Term Loan Agreement between Tianjin Tianshi Biological Development Co., Ltd. and Tianjin Tianshi Biological Engineering Co., Ltd.

Summary

Tianjin Tianshi Biological Development Co., Ltd. (the Lender) agrees to provide a short-term, non-interest-bearing loan of RMB 200 million to Tianjin Tianshi Biological Engineering Co., Ltd. (the Borrower). The loan term runs from January 1, 2006, to March 31, 2006. The Borrower must repay the loan by March 31, 2006, but may repay earlier with the Lender's approval. The Lender reserves the right to demand repayment at any time. Both parties are required to comply with the terms of the agreement.

EX-10.11 6 tb5264ex1011.txt EXHIBIT 10.11 EXHIBIT 10.11 TERM LOAN AGREEMENT Party A (hereinafter referred to as the "Lender"): Tianjin Tianshi Biological Development Co., Ltd. Party B (hereinafter referred to as the "Borrower"): Tianjin Tianshi Biological Engineering Co., Ltd. The lender and the Borrower have reached and signed a loan agreement which should be observed by both parties. 1. The Lender agrees to make a loan of RMB 200 million((pound)*200,000,000.00) to the Borrower. 2. The term of this loan agreement is from January 1, 2006 to March 31, 2006. 3. The loan is for short-term loan and non-interest bearing. 4. The Borrower guarantees to repay the loan by March 31, 2005, and terms of the loan agreement shall not be breached. 5. The Lender can call the loan back whenever it is necessary. 6. Upon the approval by the lender the Borrower can pay off the loan before March 31, 2005. The Lender: The Borrower: Tianjin Tianshi Biological Development Tianjin Tianshi Biological Engineering Co., Ltd Co., Ltd By /s/ Jinyuan Li By /s/ Baolan Li ------------------------------- -------------------------------- Title: General Manager Title: General Manager January 1, 2006 January 1, 2006