Loan Agreement between KGE Group Limited and China Architectural Engineering, Inc. dated June 17, 2009

Contract Categories: Business Finance › Loan Agreements
Summary

KGE Group Limited, the principal shareholder, is lending $2,800,000 to China Architectural Engineering, Inc. and its subsidiaries as an interest-free, fee-free, and penalty-free loan. The borrower may repay the loan at any time without penalty, but must repay it in full within two years from the agreement date. The agreement is governed by Hong Kong law and becomes effective upon signing by both parties.

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EX-10.1 4 v152809_ex10-1.htm Unassociated Document
LOAN AGREEMENT

Lender:                      KGE Group Limited

Borrower:                  China Architectural Engineering, Inc.

Date:                      June 17, 2009

           WHEREAS, Lender is the principal shareholder of China Architectural Engineering, Inc. (“Borrower”), a Delaware company;

           WHEREAS, Lender desires to provide, and Borrower desires to receive, additional operating capital to the Borrower and its subsidiaries (collectively, the “CAE Group”) on an interest-free basis;

NOW, THEREFORE, pursuant to mutual consultations, the Parties agree as follows:

1.           TYPE OF LOAN: Shareholder's free interest loan.

2.           AMOUNT OF LOAN: $2,800,000 (the “Loan”)

3.           INTEREST AND FEES:  The Loan shall be interest-free, fee-free, and penalty-free.

4.            TERM: Borrower may repay the Loan at any time, without penalty, at the discretion of the Board of Directors of CAE; provided, that, however, that the Loan shall be repaid in full no later than two (2) years from the date of this Agreement.

5.           LAWS APPLICABLE: The relevant rules and laws of the Hong Kong shall govern this Agreement.

6.           MISCELLANEOUS: This Agreement shall become effective upon the date it is signed by the Parties. This Agreement shall be made in duplicate and each party shall retain one copy.

[SIGNATURE PAGE TO FOLLOW]

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
         
         
 
Lender:
KGE Group Limited
  
         
         
         
         
   
By:
/s/  [ILLEGIBLE]
  
   
Name:
    
   
Title:
    
         
         
         
 
Borrower:
China Architectural Engineering, Inc.
  
         
         
         
         
   
By:
/s/  Luo Ken Yi
  
   
Name:
    
   
Title: