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SPD BANK
Shanghai Pudong Development
Bank
Entrusted Loan Contract
No.:
7772008280166
Shanghai Pudong Development
Bank
Entrusted Loan Contract
Short-term Loan Contract
Contract No.: 77072008280156
Client: Tianjin Haitai Investment Guarantee
Co., Ltd.
Address:
Lender: Shanghai Pudong Development Bank,
Tianjin Branch
Operating address:
Borrower: Tianjin Yayi Industrial Co.,
Ltd.
Address:
Since the client, Tianjin Haitai Investment
Guarantee Co., Ltd. (addressed as the “client”
hereinafter) entrusts the borrower to release the loan (Entrusting
Contract for Entrusted loan No.: 77072008280080) and the borrower,
Tianjin Yayi Industrial Co., Ltd. (addressed as the
“borrower” hereinafter) applies for the loan, the three
parties discussed and drafted the contract on the basis of mutual
fairness.
Clause1. Entrust and Agent
The client entrust the lender to release the
loan, and the lender has accepted the entrustment. Following the
client’s instructions, the lender releases the loan under the
contract to the borrower, but does not undertake the responsibility
to investigate before releasing the loan or to analyze and evaluate
the borrower’s credit risk. The client promises to know and
judge the borrower’s conditions by itself, and to undertake
the work of monitoring the borrower’s use of the loan and the
work of collecting the loan. The lender is only responsible for
transferring the loan to the borrower’s account and deducting
the principle and interest when they are due. The borrower admits
the lender’s legal position as the client’s agent, and
admits that the contract directly rules the client and the
borrower.
Clause2. Loan
2.1 The loan under the contract is in RMB and
the type of loan is entrusted loan.
2.2 The amount of the loan under the contract
is (in Chinese characters) 5,000,000.00 RMB.
2.3 The term of the loan is three months, from
December 26, 2008 to March 26, 2009.
2.4 The interest rate for the loan under the
contract is 0.48675% per month. The function of the loan is for
working fund. The borrower must not embezzle the loan for other
use.
Clause3. Interest of the Loan
3.1 The interest of the loan under the
contract is calculated from the loan-drawing date till (including)
the day the loan is repaid on the basis of 360 days per year.
3.2 If the interest of the loan needs
adjusting, the client should negotiate and agree with the borrower
and inform the lender in the form of written Notice for Adjustment
of the Entrusted Loan. Then the lender will adjust the interest
rate accordingly.
3.3 If the interest rate is the same with the
bank interest rate of certain level but the number of days when the
loan is actually borrowed is not up the standard time limit of the
level, the interest rate shall be the one stated in the contract.
If the loan is extended, and the loan term reaches a new level of
interest rate, the new rate should be taken in calculation of
interest.
3.4 The payment term of the interest of the
loan under the contract is as following: (one of the following)
( ) 3.4.1 Payable
quarterly and 20 th
day of the third month of each quarter of a solar calendar year is
the liquidation date.
( ) 3.4.1 Payable
monthly and the ___ day of each month is the liquidation date.
(√) 3.4.1 All the principle
and interest shall be repaid off at one time when the loan is
due.
( ) 3.4.1 The principle
and interest shall be repaid by installment.
3.5 c
Clause4. Capital Withdraw
4.1 If the following conditions have been met,
the lender will allow the borrower to proceed with the capital
withdraw procedures:
(1) The Application for
Entrusted Loan and related loan documents have been filled as
required;
(2) Valid certificate of
identification has been submitted;
(3) Approval, registration,
notarization and filing procedures related to the loan have been
covered;
(4) If the loan is
guaranteed, the guarantee contract should be valid;
(5) The borrower’s
request for withdrawing capital complies with the notice of capital
release for entrusted loan or relevant content and requirement in
the contract;
(6) If the entrusted loan
will be used for investment in fixed assets, the certifying
documents for related approval have been submitted;
(7) Other documents and
materials required by the lender have been submitted.
4.2 The borrower follows the following time
and manner to apply for capital withdraw to the lender: (one of the
following)
(√)4.2.1 The
borrower will apply for withdraw of capital at one time on December
26, 2008.
( )4.2.1
The borrower will follow the following plan to wit
