Payment Extension AgreementPayment Extension Agreement • May 16th, 2016 • China Auto Logistics Inc • Wholesale-motor vehicles & motor vehicle parts & supplies
Party A and Party B had entered into an equity transfer agreement on November 30, 2013, by which Party A acquires 100% equity of Tianjin Zhonghe Auto Sales Service Co., Ltd. As per this acquisition agreement, a payment of RMB ONE HUNDRED TWENTY MILLION was originally due on November 30, 2015. After friendly consultation, the two parties hereby conclude an arrangement as below:
