BRIDGE LOAN AGREEMENTBridge Loan Agreement |
|
|
You are currently viewing: This Bridge Loan Agreement involves
ASIA INTERACTIVE MEDIA INC PREVIOUSLY BLACK GARDENIA CORP | LIVE-INTERACTIVE TECHNOLOGY LTD. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
|
|
|
Search Bridge Loan Agreement by:
| BRIDGE LOAN AGREEMENT |
| THIS AGREEMENT (the "Agreement") effective as of the 1st day of September, 2007, |
| BETWEEN |
|
ASIA INTERACTIVE MEDIA INC. (PREVIOUSLY BLACK GARDENIA CORP.) 12th Floor - 777 West Broadway Vancouver, British Columbia V5Z 4J7 |
| (the "Lender") |
| AND |
|
LIVE-INTERACTIVE TECHNOLOGY LTD. Room 211, 2/F., International Commerce Building Southern District, DongGuan GuangDong, China 523110 |
| (the “Borrower”) |
|
WHEREAS: The Lender and the Borrower have agreed to enter into this Bridge Loan Agreement for their mutual benefit. THIS AGREEMENT WITNESSES that the parties have agreed that the terms and conditions of the relationship shall be as follows: |
| 1. |
The Lender agrees to lend to the Borrower and the Borrower agrees to borrow from the Lender the sum of Three Hundred Thousand renminbi (¥300,000.00) of lawful money of the People’s Republic of China (the "Principal Sum"). |
|
| 2. |
The Principal Sum will be due and payable (the “Due Date”) on the earlier of: |
|
| a. |
Ten days after the closing of the acquisition of the Borrower by the Lender; or |
|
| b. |
Three months from the date of the loan which is September 5th, 2007. |
|
| 3. |
The Borrower and the Lender agree that the Borrower will pay no interest on the Principal Sum as long as the Principal Sum is paid in full on or before the Due Date. |
|
| 4. |
In the event that the Borrower does not pay the Lender the full Principal Sum by the Due Date, then the Borrower will begin to pay interest from the Due Date until the Principal Sum is paid in full at a rate of 15% (fifteen percent) per annum. |
|
| 5. |
The Borrower agrees
| |
