Term Loan Agreement
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EX-10.1 2 v093441_ex10-1.htm
EXHIBIT 10.1
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.
In order to support the business development of the Borrower, the Lender agrees to extend the loan agreement that was signed on December 22, 2006, and makes the following according amendments:
| 1. | The amount of the loan: RMB 200 million ( ¥ 200,000,000); |
| 2. | The term of the loan agreement: from October 1, 2007 to December 31, 2007; |
| 3. | The type of the loan: short-term loan; |
| 4. | The interest of the loan: at a rate that is equal to the contemporary interest rate for the same level of the loan published by the People’s Bank Of China; |
| 5. | The Borrower guarantees to repay the principal and interest of the loan by December 31, 2007, 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 December 31, 2007. 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 Tianshi Biological Development Co., Ltd | Tianjin Tianshi Biological Engineering Co., Ltd | ||
| /s/ Jinyuan Li | /s/ Baolan Li | ||
| | | ||
| Title:General Manager | Title: Director | ||
| September 27, 2007 | September 27, 2007 |
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