Loan Agreement

EX-10.10 7 v218393_ex10-10.htm
 
Exhibit 10.10
Loan Agreement

Party A (creditor):
Dingyou Zhang
 
Party B (debtor):
Linyin Hengchang Brewer’s Malt Co., Ltd. (“Company”)

Party A and B have reached an agreement through friendly consultation to conclude the following contract:

Article I:
Loan Amount
 
RMB Eleven million four hundred and sixty eight thousands only (¥11,468,000).

Article 2:
Purpose
The loan under the Agreement shall be used to set up the canning line of the Company.

Article 3:
Interest Rate and Repayment
Party A agrees to lend money to Party B with no interest.

Article 4:
Term
The term of the loan under the Agreement shall start from June 1, 2010 and is due upon Party A’s request. Party B is responsible to make the repayment. But the financial situation of the Company shall be taken into consideration when Party A requests for repayment.

Article 6:
Rights and Obligations
1.
Party A shall provide the agreed loan amount to Party B by installments by June 30, 2010.
2.
Party A has the right to monitor Party B on using the loan according to the purpose as agreed in Article 2 of the Agreement.

Article 7:
Breach of Agreement
1.
If Party A fails to provide agreed amount on time, Party A shall be responsible for the liquidated damages, the amount of which shall be 0.05% of un-provided amount under the Agreement.
2.
If Party B fails to comply with the purpose as agreed in Article 2 of the Agreement, Party A shall be entitled to collect the repayment ahead of schedule.

Article 8:
Dispute Resolution
Any dispute occurred due to or related to this Agreement shall be resolved through consultation by both parties. If consultation fails, each party is allowed to file a law suit with local court where the Agreement is signed.
 
 
 

 
 
Article 9:
The Agreement is prepared in duplicate, one for Party A and another for Party B.
 
Party A :      
/s/ Dingyou Zhang
        
Party B: (Sealed)
Linyin Hengchang Brewer’s Malt Co., Ltd.
         
 
Dingyou Zhang
   
Linyin Hengchang Brewer’s Malt Co., Ltd.
         
Date: June 1,2010
 
Date: June 1,2010