Loan Agreement dated October 10, 2010 between Ever Trend Investment Limited and Liu Lu

Contract Categories: Business Finance - Loan Agreements
EX-10.3 4 ex10_3-f8k09162010.htm LOAN AGREEMENT DATED OCTOBER 10, 2010 ex10_3-f8k09162010.htm
Exhibit 10.3

 
LOAN AGREEMENT
 

 
 
                                                           
 
Party A : Ever Trend Investment Limited（德祥投资有限公司）
  : Liu Lu （刘璐）(Identity Card no.：130203197805150323)
 
 
Whereas Party A demand for operating cashflow and borrow a loan from Party B, both Party A and Party B agree the terms as below:

 
1.              Loan amount: USD Forty Thousand (RMB272,000) for settlement of audit fee of China INSOnline Corp.(“CHIO”), holding company of Party A.
 

 
2.              Loan interest:                                Annual rate at 3%, from the date of borrowing to repayment, both days inclusive.  For interest calculation, there is 360 days per year.  Loan interest is payable on the repayment of loan.
 

 
3.              Repayment:                      On or before December 31, 2010.  If Party A could not repay in cash, Party B has right to request the same value of stock issued by CHIO.  Any delay repayment is subject to late charges of 0.1% per day.
 

 
4.              This Agreement in duplicate and each party has one.
 

 
Party A:                                                                                                                     Party B:
 
Ever Trend Investment Limited                                                                               Liu Lu （刘璐）
 
（德祥投资有限公司）
 

 

 
/s/Wang Zhenyu                                                                                                         /s/ Liu Lu
 
October 10, 2010                                                                                                         October 10, 2010