Loan Agreement between Zhou Diping and PerfectEnergy (Shanghai) Company Limited

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Summary

This agreement is between Zhou Diping (lender) and PerfectEnergy (Shanghai) Company Limited (borrower). Zhou Diping will loan RMB 200,000 to PerfectEnergy to support its manufacturing operations. The loan carries an annual interest rate of 7.2%, with interest payments due quarterly. The loan term is from February 25, 2006, to February 24, 2007, at which point the full amount must be repaid in one payment. The agreement is effective upon signing and stamping by both parties.

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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: