LOAN AGREEMENT (English Translation of Original Contract in Chinese)
EX-10.10 15 v081123_ex10-10.htm
LOAN AGREEMENT
(English Translation of Original Contract in Chinese)
This Agreement is entered into by the following:
Party A: Zhou Diping
Party B: PerfectEnergy (Shanghai) Company Limited
The parties hereto freely enter into this Agreement regarding loan by Party A to Party B, and agree as follows:
| 1. | To alleviate Party B’s cash flow pressure relating to its manufacturing operation, Party A agrees to loan Party B the sum of RMB 200,000. |
| 2. | Party B agrees to borrow from Party A the sum of money described above, and further agrees to pay Party A interest at the rate of 7.2% per annum. |
| 3. | Party A shall transfer the entire sum in one payment into Party B’s account, and the parties jointly agree that interest will begin to accrue on 2/25/2006. |
| 4. | Term of the Loan: From 2/25/2006 to 2/24/2007. At the end of the Term, Party B shall repay the entire loan in one payment. |
| 5. | Payment of Interest: Party B shall make interest payment once per quarter. |
| 6. | Any issues not addressed by this Agreement shall be resolved by the parties amicably. |
| 7. | This Agreement shall be in 2 copies, 1 copy to each party, and shall take effect upon the parties’ signatures and stamp. |
| Party A: Zhou Diping | Party B: PerfectEnergy (Shanghai) Co. |
| Signature: | Signature: |
| Stamp: | Stamp: |
| Date: |
