LOAN AGREEMENT (English Translation)
(English
Translation)
This
is
an agreement between the following parties:
|
Party
A:
|
Wennan
Li
|
|
Party
B:
|
Perfectenergy
(Shanghai), Ltd.
|
The
parties hereto enter into this agreement voluntarily, after friendly
negotiations, to enable Party B to borrow money from Party A, as
follows:
|
1.
|
To
address Party B’s cash flow issue, Party A agrees to loan Party B One
Million RMB.
|
|
2.
|
Party
B agrees to borrow the money described above for cash flow, and agrees
to
pay Party A interest at the rate of 7.2% per
annum.
|
|
3.
|
Funding
method: Party A shall transfer the entire sum into Party B’s account, and
the parties agree that interest shall begin on March 17,
2006.
|
|
4.
|
Term
of loan: March 17, 2006 to March 16, 2007. At the end of the term,
Party B
shall repay Party A the borrowed sum in one
payment.
|
|
5.
|
Payment
of interest: Party B shall pay Party A interest on a quarterly
basis.
|
|
6.
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The
parties hereto agree to resolve any disputes amicably.
|
|
7.
|
This
agreement will be in two originals, with each party holding one.
This
agreement will be effective upon the parties’ signatures and
stamps.
|
|
Party
A: Wennan Li
|
Party
B: Perfectenergy (Shanghai), Ltd.
|
|
Signature:
|
Signature:
|
|
Seal:
|
Company
Seal:
|
|
Date:
3-16-2006
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