Second Supplementary Loan Agreement among Chinawe.com Inc., Chinawe Asset Management Limited, and Vivian Wai Wa Chu (July 1, 2007)
This agreement, dated July 1, 2007, is between Chinawe.com Inc., its subsidiary Chinawe Asset Management Limited (CAM), and Vivian Wai Wa Chu. It clarifies that a previous loan made under earlier agreements was actually used by CAM, which is now responsible for repaying the principal and interest to Ms. Chu. The repayment deadline is extended to December 31, 2007. All other terms from the original and prior supplementary agreements remain unchanged.
THIS 2nd SUPPLEMENTARY AGREEMENT is made on 1 July 2007
BETWEEN
CHINAWE.COM INC., whose principal executive office is situated at Room 1304-05, Dongbao Tower, 767 Dongfeng Road East, Guangzhou, China 510600 (the Company)
CHINAWE ASSET MANAGEMENT LIMITED, whose principal executive office is situated at 1307, 13/F. Block A, 66-68 Tong Mi Road, Kowloon, Hong Kong (CAM)
VIVIAN WAI WA CHU [Holder of H.K.I.C. No. ________] (Ms. Chuo) of 1307, 13/F. Block A, 66-68 Tong Mi Road, Kowloon, Hong Kong
WHEREAS the Company is a corporation listed on the Nasdaq-OTCIBB of the United States: CAM is a wholly-owned subsidiary of the Company and Ms. Chu is a director of the Company.
This supplementary agreement is made to supplement the agreement dated May 6 2003 (the Agreement) and the supplementary agreement dated 1 January 2005 (the Supplementary Agreement) made between the Company and Ms. Chu.
NOW IT IS HEREBY AGREED AS FOLLOWS:
(1) The loan pursuant to the Supplementary Agreement (the Loan) was actually used by CAM and CAM should have the obligations to repay the principal and interests outstanding to Ms. Chu; and
(2) The repayment term of the Loan is extended to 31 December 2007.
Other terms in the Agreement and the Supplementary Agreement remain the same.
CHINAWE.COM INC. |
| CHINAWE ASSET |
| VIVIAN WAI WA CHU | |||
| /s/ Man Keung Wai |
| By: | /s/ Man Keung Wai |
| /s/ Vivian Chu | |
Name: | Man Keung Wai |
| Name: | Man Keung Wai |
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Title: | CEO |
| Title: | Director |
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