Loan Extension Agreement between Heung Mei Tsui and China Pharma Holdings, Inc. (January 2, 2013)

Contract Categories: Business Finance › Loan Agreements
Summary

This agreement extends the repayment date for loans totaling $1,354,567 in principal and $17,122 in interest from Ms. Heung Mei Tsui to China Pharma Holdings, Inc. Due to insufficient funds in the company's overseas account, both parties agreed to extend the loan repayment deadline to December 31, 2013. The company is required to repay the full principal and accumulated interest by that date.

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EX-10.9 6 cphi10kex109123112.htm cphi10kex109123112.htm
Exhibit 10.9
 
 
Loans Extension Agreement
 
With respect to the loans from Ms. Heung Mei Tsui to China Pharma Holdings, Inc. (the Company), the principal and accumulated interest totaled USD $1,354,567 and $17,122 respectively as of December 31, 2012. Because the Company temporarily did not have enough balance in its oversea account to repay the loans, Ms. Tsui and the Company unanimously agreed to extend the loans to December 31, 2013. The Company shall repay the principal and accumulated interest on December 31, 2013.
 
                           Creditor：Heung Mei Tsui
Debtor：China Pharma Holdings, Inc.
                                            January 2, 2013