Loan Agreement between GINZA ONODERA USA INC. and ONODERA GROUP CO., LTD.
GINZA ONODERA USA INC. (the Borrower) and ONODERA GROUP CO., LTD. (the Lender) have entered into a loan agreement where the Lender provides a loan of 30 million Japanese Yen to the Borrower. The loan is to be repaid in a lump sum, including 0.5% annual interest, three years after the Borrower receives the funds. The loan will be transferred to the Borrower's specified bank account. Any disputes will be resolved by arbitration at the Lender's location.
Exhibit 10.14
LOAN AGREEMENT
Between
GINZA ONODERA USA INC.
(Hereinafter referred to as “Borrower”)
And
ONODERA GROUP CO., LTD.
(Hereinafter referred to as “Lender”)
This loan agreement (hereinafter referred to as “this agreement) is established between the following parties:
| Between | |||
| GINZA ONODERA USA INC. (Borrower) | |||
| Address : | 808 Kapahulu Ave, Honolulu, HI 96816, USA | ||
| EIN code: | |||
| Representative: | KEIICHI YAMAMOTO | Position: | Executive Vice President |
| And | |||
| ONODERA GROUP CO., LTD (Lender) | |||
| Address: | 1-1-3 Otemachi Chiyoda-ku, Tokyo 100-0004, Japan | ||
| EIN code: | |||
| Representative: | HIROSHI ONODERA | Position: | President |
Mutually agree to sign a loan agreement as follows:
Article 1: Loan value
| 1.1. | Value of loan: The lender agrees to lend to the borrower a total of JPY30,000,000 (Three million Japanese Yen). |
| 1.2. | Type of currency: JPY (Japanese Yen) |
| 1.3. | This agreement takes effect from the date the borrower receives the loan amount. |
Article 2: Term of principal payment
The payment period of this loan shall be three year from the date of loan, and the amount including the principal and interest shall be repaid in a lump sum at the expiration of the period.
Article 3: Interest rate
The interest rate of the loan shall be 0.5% per annum from the commencement date of this Agreement, and it shall be repaid by adding it to the principal when the loan is repaid.
Article 4: Methods of transaction
The lender will transfer the amount of the loan under article 1 to the borrower’s bank account as follows.
| Bank name | First Hawaiian Bank, Kapiolani Branch |
| Address | 1580 Kapiolani Blvd, Honolulu, HI 96814 |
| Account number | |
| SWIFT/BIC | FHBKUS77 |
| Account name | ONODERA USA INC. |
Article 5: Terms of dispute
In case of any dispute between the two parties related to this agreement, it will be complied with the arbitral award at the place where the lender is attached.
In witness whereof, this Agreement has been prepared in one original, and Borrower shall retain the original and Lender shall retain a copy thereof.
| DATE: | 11/17/2023 | ||
| GINZA ONODERA USA INC. | GINZA ONODERA GROUP CO., LTD. | ||
| /s/ KEIICHI YAMAMOTO | /s/ HIROSHI ONODERA | ||
| Executive Vice President / | President / | ||
| KEIICHI YAMAMOTO | HIROSHI ONODERA | ||
