Entrusted Loan Agreement between Shandong the Fifth Season Commercial Investment Co., Ltd. and China CITIC Bank, Zibo Branch (January 28, 2011)
This agreement is between Shandong the Fifth Season Commercial Investment Co., Ltd. and China CITIC Bank, Zibo Branch, with Shandong Shengli Steel Co., Ltd. as the principal. It provides a loan of 300 million RMB for working capital, effective from January 28, 2011, to January 27, 2012, at a fixed annual interest rate of 15%. 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 Entered by and between th Shandong the Fifth Season Commercial
Investment Co., Ltd. (Company) and China CITIC Bank, Zibo Branch dated January 28, 2011 for RMB
300 million Yuan entrusted loan.
- 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
