Term LoanAgreement
EX-10.1 2 v149382_ex10-1.htm
EXHIBIT 10.1
Term Loan Agreement
Party A (hereinafter referred to as the “Lender”): Tianjin Tiens Life Resources 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.
The Borrower agrees to pay interest on the balance, as of March 31, 2009, of the Lender’s Other Receivables-related parties that originated from the Borrower and were transferred from the Lender’s Accounts Receivable – related parties. The related terms are stipulated as follows:
| | 1. | The amount of the loan: RMB 17,538,448 (US$ 2,562,017); |
| | 2. | The term of the loan agreement: from April 1, 2009 to June 30, 2009; |
| | 3. | The type of the loan: short-term loan; |
| | 4. | The interest of the loan: at a rate for the same level and same period of loan stipulated by the People’s Bank of China on April 1, 2009 (4.86%); |
| | 5. | With approval from the Lender, the Borrower can pay off the loan before June 30, 2009. The interest of the loan shall be calculated until the day on which the principal of the loan is repaid, and no fine shall be imposed on the Borrower for advancing the repayment of the loan. |
| The Lender: | The Borrower: | |||
| Tianjin Tiens Life Resources Co., Ltd | Tianjin Tianshi Biological Engineering Co., Ltd | |||
| By | /s/ Yiqun Wu | By | /s/ Jinyuan Li | |
| Title: | Authorized Representative | Title: | Authorized Representative | |
| April 21, 2009 | April 21, 2009 | |||
