Loan Agreement dated November 4, 2010 between China INSOnline and Liu Lu
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EX-10.5 6 ex10_5-f8k09162010.htm LOAN AGREEMENT DATED NOVEMBER 4, 2010 ex10_5-f8k10102010.htm
Exhibit 10.5
LOAN AGREEMENT
Party A : China INSOnline Corp.
PartyB : 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 Ninety-Eight Thousand Six Hundred and Twenty-Three for settlement of legal fee of USD Forty Thousand, annual audit fee of USD Fifty Thousand, and Broadridge billing of USD Eight Thousand Six Hundred and Twenty-Three.
2. Loan interest: 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 Party A. 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: | |
| China INSOnline Corp. | Liu Lu （刘璐） |
| | ||
| /s/Wang Zhenyu | /s/ Liu Lu | |
| November 4, 2010 | November 4, 2010 |
