Loan Agreement (Translation)

Contract Categories: Business Finance - Loan Agreements
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