Loan Agreement between Tianshi International Investment Group Co., Ltd. and Tianjin Tiens Life Resources Co., Ltd.
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Summary
Tianshi International Investment Group Co., Ltd. (the Lender) is providing a short-term, interest-free loan of $6,500,000 to Tianjin Tiens Life Resources Co., Ltd. (the Borrower) to support the Borrower's business development. The loan term runs from January 21, 2008, to June 30, 2008. The Borrower must repay the full principal by June 30, 2008, but may repay earlier with the Lender's approval. Both parties have signed and agreed to these terms.
EX-10.2 3 v114150_ex10-2.htm
Exhibit 10.2
Loan Agreement
Party A (hereinafter referred to as the “Lender”): Tianshi International Investment Group Co., Ltd.
Party B (hereinafter referred to as the “Borrower”): Tianjin Tiens Life Resources Co., Ltd.
The Lender and the Borrower have reached and signed a loan agreement which should be observed by both parties.
In order to support the business development of the Borrower, the Lender agrees to give a loan to the Borrower on the following terms:
| 1. | The amount of the loan: Six Million Five Hundred Thousand Dollars ($6,500,000); |
| 2. | The term of the loan agreement: from January 21, 2008 to June 30, 2008; |
| 3. | The type of the loan: short-term loan; |
| 4. | The loan shall be without interest; |
| 5. | The Borrower guarantees to repay the principal of the loan by June 30, 2008, and the terms of the loan agreement shall not be breached. |
| 6. | With approval from the Lender the Borrower can pay off the loan before June 30, 2007. |
| The Lender: | The Borrower: | |||
| Tianshi International Investment Group Co., Ltd. | Tianjin Tiens Life Resources Co., Ltd.Co., Ltd | |||
| By | /s/ Jinyuan Li | By | /s/ Yiqun Wu | |
| Title: | President | | Title: Legal Representative | |
| January 21, 2008 | January 21, 2008 | |||
