Promissory Note between Success Holding Group Corp. USA and Success Entertainment Group Inc.
Success Holding Group Corp. USA is lending $1,200,000 to Success Entertainment Group Inc. under this promissory note. The loan is interest-free from August 28, 2014, to August 27, 2016. Starting in 2015, Success Entertainment Group Inc. must repay $100,000 on the 30th of each month until the loan is fully paid. If payments are not made on time, a 3% annual interest rate will apply to the outstanding balance.
EXHIBIT 10.3
Promissory Note
Contracting party: Success Holding Group Corp. USA._
(hereinafter referred to as Party A)
Success Entertainment Group Inc.
(hereinafter referred to as Party B)
WHEREAS both parties issue the Promissory Note follow by the loan’s terms & condition:
I. Party A is agree to loan one million two hundred thousand dollars to Party B a t the time to issue this covenant.
II. The covenant is Interest-free from August 28th, 2014 to August 27th, 2016 end.
III. Part B shall start the payment of 100,000 dollars from 2015 on the 30th of every month until paid off the loan.
IIII. The period fails to repay, Party B will pay an annual interest rate of 3% .
Contracting Party A: Success Holding Group Corp. USA
Loaner Signature:
Date: August 28th, 2014
Contracting Party B: Success Entertainment Group Inc
Borrower Signature:
Date: August 28th, 2014
