Loan Agreement between Law Enterprise Co., Ltd. and Action Holdings Financial Limited Taiwan Branch dated March 13, 2017
Law Enterprise Co., Ltd. is lending NTD 17,000,000 to Action Holdings Financial Limited Taiwan Branch for short-term payments. The loan term is from March 13, 2017, to March 12, 2018, with a fixed interest rate of 2.0%. Action Holdings must repay the full loan amount plus interest in one lump sum by March 12, 2018. If Action Holdings fails to repay, it must pay the agreed interest and liquidated damages. Both parties have signed the agreement, and an authorized representative of Action Holdings also acts as guarantor.
Exhibit 10.93
Loan Agreement
The Loan Agreement (the "Agreement") is entered into on March 13, 2017 by and between the following two parties:
(1) Law Enterprise Co., Ltd. ("Party A")
(2) Action Holdings Financial Limited Taiwan Branch ("Party B")
Party A and Party B will each be referred to as a "Party" and collectively referred to as "Parties."
WHEREAS, Party B wishes to borrow a short-term loan from Party A for its short-term payments and Party A agrees to provide such loan to Party B for such specified purpose.
NOW THEREFORE, Parties agree as follows:
| 1. | Party A agrees to provide the loan at amount NTD17,000,000 (the “Loan”) to Party B and agrees to remit such Loan to the account designated by Party B within 10 days of the effective date of this Agreement. |
| 2. | Term for the Loan shall be from March 13, 2017 to March 12, 2018 (the “Term”) with a fixed interest rate at 2.0%. The principal amount of the Loan together with the accrued interest shall be paid in one lump sum before March 12, 2018. |
| 3. | In the event that Party B fails to repay the Loan, it shall pay to Party A in an amount of the agreed interest payment and liquidated damages . |
| 4. | IN WITNESS WHEREOF, Parties have executed this Agreement , or have caused this Agreement to be duly executed on their behalf, as of the date first above written. This Agreement is executed in duplicate, with each Party holding one original. |
Party A (Lender):
For and on behalf of
Law Enterprise Co., Ltd. (seal)
No: 86300857
Address: 5th Floor, No. 311 Section 3, Nan-King East Road, Taipei City, Taiwan, Republic of China
Party B (Borrower):
For and on behalf of
Action Holdings Financial Limited (seal)
/s/Mao Yi-Hsiao
Authorized representative (and Guarantor with joint and several liability): Mao Yi-Hsiao
No: 53675377
Address: 7th Floor, No. 311 Section 3, Nan-King East Road, Taipei City, Taiwan, Republic of China
