Loan Agreement between Qufu Natural Green Engineering Co., Ltd. and Shandong Anda Bio-Tech Co., Ltd. dated December 16, 2011

Contract Categories: Business Finance › Loan Agreements
Summary

Qufu Natural Green Engineering Co., Ltd. is lending RMB 20 million to Shandong Anda Bio-Tech Co., Ltd. as working capital. The loan term is from December 19, 2011, to December 18, 2012, with full repayment due at the end of the term. If the funds are used for purposes other than working capital, or if repayment is late, penalties apply. Any extension or new loan requires a separate agreement. Both parties have signed and agreed to these terms.

Read More Arrow
EX-10.26 4 exh10-26.htm LOAN AGREEMENT DATED DECEMBER 16, 2011 BY AND BETWEEN QUFU NATURAL GREEN ENGINEERING CO., LTD. AND SHANDONG ANDA BIO-TECH CO., LTD. exh10-26.htm
 
Exhibit 10.26
 
Loan Agreement
(Translation)
 
Party A：Qufu Natural Green Engineering Co., Ltd.
Party B：Shandong Anda Bio-Tech Co., Ltd.
 
WHEREAS, Party B applied for a loan from Party A and both parties negotiated the terms in good faith;
 
NOW, therefore, both parties have agreed to enter this loan agreement under the terms and conditions as follows:
 
1.  
Party A will loan RMB 20,000,000 (twenty million) to Party B as working capital.
2.  
Term: from December 19, 2011 to December 18, 2012. The principal is due in full amount on expiration date.
3.  
On expiration date, Party B shall fully pay back the loan in one payment. If further cash or loan is needed, both parties shall sign a new loan agreement, and Party A decides at its own discretion a potential increase or decrease of the credit line available to Party B.
4.  
This loan provided through this agreement shall only be used as working capital. Otherwise, Party A has the right to collect the loan before expiration and charge Party B with 2% of the loan amount for penalty.
5.  
If Party B fails to pay the dues of the loan on expiration date, Party B is willing to compensate Party A with the assets owned by Party B and be responsible for all the expenses related to the exercise of creditor’s rights by Party A.
 
 
 
 
 
Party A: Qufu Natural Green Engineering Co., Ltd.
 
Signature:  /s/ Chengxiang Yan
(Corporate seal)
 
 Party B: Shandong Anda Bio-Tech Co., Ltd.
 
Signature: /s/ Ansheng Zhang
 
December 16, 2011