Loan Cooperation Agreement between Fremery Holdings Ltd. and China Armco Metals, Inc. dated August 5, 2010

Contract Categories: Business Finance › Loan Agreements
Summary

Fremery Holdings Ltd. has agreed to lend $1,500,000 to Armco & Metawise (HK) Ltd., a subsidiary of China Armco Metals, Inc. The loan is for a one-month term, with an annual interest rate of 15%. If the loan extends beyond one month, the interest rate increases to 30% annually, but the total loan period cannot exceed 90 days. The agreement outlines the bank details for the transfer and is signed by authorized representatives of both parties.

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EX-10.25 5 exh10-25.htm LOAN COOPERATION AGREEMENT BETWEEN FREMERY HOLDINGS, LTD. AND CHINA ARMCO METALS, INC. DATED AUGUST 5, 2010 exh10-25.htm
 
Exhibit 10.25
 
Loan Cooperation Agreement
Date: August 5, 2010
Lender (Party A) : Fremery Holdings Ltd.

909 North Tower, Concordia Plaza, 1 Science Museum Road, TST East, Kowloon, Hong Kong.
Authorized Representative:  K.P. Chan

Borrower (Party B) : China Armco Metals, Inc.

One waters park drive, suite 98, San Mateo CA 94403
Authorize Representative: Kexuan Yao

After friendly consultations conducted between Party A and Party B, Party A has agreed to provide loans to Armco & Metawise (HK) Ltd., a Hong Kong based subsidiary of Party B.

The terms are as follows:

 
1.
Party A agreed to provide US$1,500,000 (UD Dollars one million five hundred thousand only) to Armco & Metawise (HK) Ltd. With account as follows:

Account Name: Armco & Metawise (HK) Ltd.
Company Address:
1407 China Resources Building, 26 Harbour Road,
Wanchai, Hong Kong
Bank Name:  Raiffeisen Zentralbank Oesterreich AG (Beijing branch)
Full Address of the Bank:
200 Beijing International Club 21 Jianguormenwai
Jiajie Beijing 100020 PR, China
Bank SWIFT: RZBACNBJ
Bank Account Number: 19887

 
2.
Loan Period: One Month

 
3.
Interest: Interest to be 15% annually and 30% annually for the period after one month but maximum not more than 90 days


Lender (Party A) : Fremery Holdings Ltd.

/s/K.P. Chan
Authorized Representative: K.P. Chan

Borrower (Party B) : China Armco Metals, Inc.
 
/s/Kexuan Yao
Authorized Representative: Kexuan Yao