Loan Agreement between Zhang Jinghe and Tianjin Joway Textile Co., Ltd.

Contract Categories: Business Finance › Loan Agreements
Summary

This agreement is between Zhang Jinghe, the majority shareholder and President, and Tianjin Joway Textile Co., Ltd. Zhang Jinghe agrees to lend money to the company for its operating capital needs. The company is not required to pay interest or provide any collateral for the loan. The agreement remains valid for the duration of the company's business operations.

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EX-10.8 24 v198379_ex10-8.htm
Loan Agreement

Party A: Zhang Jinghe

Party B: Tianjin Joway Textile Co., Ltd.

Mr. Zhang Jinghe (Party A) is majority shareholder and also President of Tianjin Joway Textile Co., Ltd. (Party B). Through friendly negotiation between the two parties, Party A shall agree to lend money to Party B as operating capital during the production operational process. Meanwhile, Party B needn’t pay the interests accrued as well as providing any assets served as guaranty or pledge.

This Agreement is valid during the business period of Party B.

Party A: /s/ Jinghe Zhang
Date: May 10, 2007

Party B: /stamp/ Tianjin Joway Textile Co., Ltd.
Date: May 10, 2007