XingYe Bank Short-term Loan Agreement serial numberXing Yin Jing Shi 2006string Liu Fifth
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EX-10.01 2 v048907_ex10-01.htm
Exhibit 10.01
XingYe Bank Short-term Loan Agreement
serial numberæXing Yin Jing Shi ø2006÷string Liu Fifth
| Loaner: | XingYe Bank | ||||
| Address: | Beijing Shi Ji Tan Branch ,No. 1 Fu Xing Road, Hai Dian district, Beijing City. 100038 | ||||
| Contact number: | 68527010 | Fax number: | 68527010 | ||
| Borrower: | Beijing Telestone | ||||
| Address: | 6/F, Saiou Plaza, No.5, Haiying Road Fengtai Technology Park, Beijing 100070, China | ||||
| Contact number: | 83670088 | Fax number: | 83670088 | ||
| Signing place: | Hai Dian District, Beijing | ||||
Article one: Amount
10million RMB
Article two: Function
Supplement liquid fund
Article three: Period
Twelve months; from 16 June 2006 to 16 June 2007
Article Four: Interest rate
Adjusted monthly and 130% of national standard rate ( in the same period and the same level).
Article Five: Penalty rate
50% higher than loan interest rate
Article Six: Repayment
According to this Agreement, the borrower shall repay the principle and interest on time.
Article Seven: Guarantee
The following agreements are guarantees of this agreement:
| 1. | Promissory Agreement of XingYe Bank (Bao Zi No.5-1 Xing Yin Jing Shi (2006) ). Guarantee method: related guarantee. Warrantor: China Hua Da Economy Guarantee Ltd. |
| 2. | Personal guarantee statement: (Ge Bao Zi No.5-2 Xing Yin Jing Shi (2006) ) Guarantee method: Personal related guarantee. Warrantor: Han Daqing |
Article Eight: Statement and Promise:
| 1. | The borrower states that the company is a legally registered company and has rights to sign and perform this agreement. |
| 2. | The loan under this agreement is authorized by the Board of Directors of the company or its highest powerful organization of the company. All the Articles of this agreement do not breach the regulations, laws, policies and rules of the company. |
| 3. | There is no other mortgage, impawn, lien and debt liability except which has stated in this agreement and no other pending legal proceedings as well. |
| 4. | The borrower does not hide any issues which may cause the loaner do not sign this agreement. |
Article Nine: Withdrawal in advance
During the loan period, the loaner can withdrawal the loan in advance when the following issues happened,
| 1. | the borrower owns interests |
| 2. | the operating profit drops sharply |
| 3. | the borrower involves in the legal proceedings |
| 4. | untrue financial statements and materials provided |
| 5. | the borrower peculates the loan |
| 6. | the borrower rejects the inspection and supervision of loaner |
| 7. | significant affairs happened on the borrower |
| 8. | unsafe situation happened to the loan |
Article Ten: Breach Liability
Any breach of this agreement is defined as breach.
If the borrower breaches the agreement, the loaner has rights to take the following measure,
| 1. | making a deadline for putting right |
| 2. | stopping drawing |
| 3. | terminating the agreement |
| 4. | asking the penalty interests if it exceed the loan period |
| 5. | asking the peculating penalty if the borrower peculates |
| 6. | asking the interests of loan interests |
| 7. | taking out the principle and interests of loan from any account of the borrower |
| 8. | using legal method to take the loan back |
The borrower shall pay any loss of repayment which does not follow this agreement
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If the following issues happened on the guarantors, the loaner has rights to take the measures as above,
| 1. | the guarantor breaches the guarantee agreement or its credit standard goes bad |
| 2. | the mortgagor breaches the mortgage agreement or destroys the guarantee |
| 3. | the person for impawning breaches the impawning agreement or the value of impawning drops sharply |
Article Eleven: Abandon of rights and performance of liability
| 1. | The borrower is independent from any party of this agreement or the third party. |
| 2. | Any tolerance and extension allowed by the loaner do not affect the rights and obligation of this agreement |
Article Twelve: Jurisdiction
This Agreement and any other ancillary agreement between the parties shall be governed by the laws of China.
Article Thirteen: Notice
| 1. | Any related notice and contact need to be send according to the contact information showed on the cover of the agreement. |
| 2. | Once any party changes the contact information, it should notice the other party in time. |
| 3. | If any notice or contact is send according above address, which can be considered as received as the following day respectively, |
| (1) | The fifth business day of the letter send |
| (2) | Receiving the confirmation signal of counter party for fax |
| (3) | Signature of the delivery |
| 4. | The parties negotiated that both parties’ official seals are effective stamps on the agreement. Any person of the borrower can represent the company to receive the mail and related documents. |
Article Fourteen: Effective period
This agreement enters into the effective period when the following terms happened,
| 1. | Both parties sign or seal |
| 2. | The attached guarantee agreement has been effective |
| 3. | Notarial proceeding has been done |
This agreement is valid until all the principle, interests and other debt are repaid off.
Article Fifteen: Document
This Agreement is executed four originals. Two parties, notarial office and Guarantee Company have one original respectively. Any counterparts are revised and enlarged as needed.
Article Sixteen: Supplement
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| Loaner | seal | Beijing Shi Ji Tan Branch of Xing Ye Bank |
Legal Representative of Xing Ye Bank: /s/ Wu Jing
Wu Jing
| Borrower | seal | Beijing Telestone |
Legal Representative of Beijing Telestone: /s/ Han Daqing
Han Daqing
16th June, 2006
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