Loan Repayment Date Modification Agreement between ICBC and Beijing Dehaier Technology Company Limited
Industrial and Commercial Bank of China Limited and Beijing Dehaier Technology Company Limited agreed to modify the repayment schedule of a RMB10,000,000 loan originally signed in November 2009. After an initial repayment of RMB1,000,000, the parties agreed to adjust the remaining repayment dates and amounts to RMB3,000,000 due on March 20, 2010, and RMB6,000,000 due on May 20, 2010. This agreement was signed by both parties on March 18, 2010, and formalizes the new repayment terms.
Exhibit 10.27
Translation of Approval to Change the date of Repayment of Loan Contract No. 0023, Year 2009
Based on the repayment Loan contract signed between Industrial and Commercial Bank of China Limited and Beijing Dehaier Technology Company Limited dated on November 17, 2009, the principal of the loan is RMB10,000,000, with repayments due on January 20, March 20 and May 20, 2010 for RMB1,000,000, RMB4,000,000 and RMB5,000,000, respectively. Beijing Dehaier Technology Company had refund RMB1,000,000 on January 20, 2010.
And Beijing Dehaier Technology Company Limited negotiated with the ICBC on March 16, 2010 for modification of the repayment date, and the both party reached the mutual agreement. The revised repayment schedule is on March 20, 2010 and May 20, 2010 for RMB3,000,000 and RMB6,000,000, respectively.
Industrial and Commercial Bank of China Limited (Hai Dian Branch)
Representative: /s/ Xu Tian Ling
March 18, 2010
Beijing Dehaier Technology Company Limited
Representative: /s/ Chen Ping
March 18, 2010
