Loan Agreement between Shandong Longkong Travel Development Co., Ltd and Yishui Underground Fluorescent Lake Travel Development Co., Ltd (2009)

Contract Categories: Business Finance › Loan Agreements
Summary

Shandong Longkong Travel Development Co., Ltd (the lender) agrees to loan RMB 12 million to Yishui Underground Fluorescent Lake Travel Development Co., Ltd (the borrower) for one year, from November 30, 2009, to November 29, 2010. The loan carries a monthly interest rate of 0.8% and must be used for the borrower's business operations. The borrower must repay the full amount with interest by the end of the term, but may request an extension if still facing financial difficulties, subject to the lender's approval.

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EX-10.3 7 exhibit103.htm LOAN CONTRACT exhibit103.htm
Exhibit 10.3
 
LOAN CONTRACT

Party A: (Lender)   Shandong Longkong Travel development Co., Ltd
 
Party B: (Borrower) Yishui Underground Fluorescent Lake Travel Development Co., Ltd

To relieve the financial strain, Party A agrees to provide a Loan to Party B; the loan fund shall be used by Party B for business operating; through consultations, Both Parties agree to sign the contract:
 
Article 1: Description of the loan
 
1.  
The loan term shall be one year starting from 30-11-2009 to 29-11-2010.
 
2.  
The loan lending interest rate shall be a monthly rate at of rate of 0.8%.
 
3.  
The loan shall be used for working capital, Party B shall not change the purpose of the loan.
 
4.  
The loan Amount is RMB12, 000, 000.00 Yuan; in words: RMB Twelve Million Yuan.
 
Article 2: Commitments
 
1.  
The loan is due, Party B commits to repay up. Party B fails to repay the Loan including the principal and interest, Party A may go to laws to recover the loan.
 
2.  
The loan is due, in case of that Party B still has financial strain, the loan may be extended with Party A’s consent.
 
Article 3: The contract is made out in 2 duplicates, each for both parties.
 
 
 
 
 


Party A: (Lender) Shandong Longkong Travel development Co., Ltd     (sealed)
 
Signature:                    /s/ YU XINBO
 
Party B: (Borrower) Yishui Di Xia Ying Kwong Hu Nu You Fa Zhen Co Ltd (sealed)
 
Signature:                    /s/ XU JIAN

Date: 26-11-2009