Entrusted Loan Agreement between Shandong Shengli Steel Co., Ltd., Shandong the Fifth Season Commercial Investment Co., Ltd., and China CITIC Bank, Zibo Branch (2011)
This agreement is between Shandong Shengli Steel Co., Ltd. (the borrower), Shandong the Fifth Season Commercial Investment Co., Ltd. (the lender), and China CITIC Bank, Zibo Branch (the entrusted bank). The lender provides a loan of 300 million RMB to the borrower for working capital, with a fixed annual interest rate of 15%, from January 28, 2011, to January 27, 2012. The borrower is responsible for all related fees and must obtain the lender's consent for early repayment. Breach of contract may result in damages, early repayment demands, and additional interest charges.
Exhibit 10.14
Entrusted Loan Agreement
- Main contents:
- Contract No.: (2011) Lu Zi Yin Wei Dai Zi No.000838
- Principal: Shandong Shengli Steel Co., Ltd.
- Loan Amount (RMB): 300 million RMB Yuan
- Purpose of the Loan: working capital of the Company.
- Contract Term: January 28, 2011 to January 27, 2012
- Interest Rate: fixed annual rate of 15.000002%
- Ways of guarantee: nil
- Fee Bearing: Borrower bears the relevant fees under the agreement.
- Prepayment of the Loan: Lender’s consent should be obtained if Borrower is willing to prepay the loan.
- Liabilities of Breach of Contract: Damages; withdrawal of loan, prepayment of principal and interest before maturity; imposition of compound interest.
- Headlines of the articles omitted
- Miscellaneous
- Dispute settlement
- Effectiveness
- Validity
- Attention
Signature Page
Party A: Shandong the Fifth Season Commercial Investment Co., Ltd.
Representative: Hongsen Xu
By: /seal/ Shandong the Fifth Season Commercial Investment Co., Ltd.
/s/ Hongsen Xu
Date: January 28, 2011
Party B: China CITIC Bank, Zibo Branch
Representative: Shaohua Zhang
Title: Legal Representative
By: /seal/ China CITIC Bank, Zibo Branch
/s/ Shaohua Zhang
Date: January 28, 2011
