Loan Agreement between Dalian TOFA New Materials Development Co., Ltd and Mr. Zheng Chuantao
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Summary
Dalian TOFA New Materials Development Co., Ltd has agreed to lend up to RMB 30,000,000 to Mr. Zheng Chuantao for personal reasons. The loan is interest-free and may be drawn in multiple installments. The repayment period is either one year or one month from the date TOFA requests repayment. The agreement is effective upon signing by both parties.
EX-10.47 29 v239260_ex10-47.htm EXHIBIT 10.47
Exhibit 10.47
Loan Contract
The Loan Contract is made between and by Dalian TOFA New Materials Development Co., Ltd (as “TOFA”) and Mr. Zheng Chuantao.
Mr. Zheng applies for loan for personal reason. His application has been approved by TOFA board. Two parties hereto agree as follow:
| 1. | Mr. Zheng may borrow from TOFA in tranches, limited to accumulative amounts RMB 30,000,000 only (Say: THIRTY MILLION). |
| 2. | Maturity term lasts (1) one year; or (2) one month as of the date TOFA requires for repayment |
| 3. | TOFA agrees the loan herein is interest free. |
| 4. | The contract is made in duplicate, one for each, and in full force upon two parties’ signatures and seals. |
Dalian TOFA New Materials Development Co., Ltd
Signature: Seal of the corporation in lieu of physical signature
| Mr. Zheng Chuantao | |
| Signature: /s/ Zheng Chuantao | |
| Date: December 1st 2008 |
