Loan Agreement dated December 20, 2010 between China INSOnline and Liu Lu
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EX-10.7 8 ex10_7f8k09162010.htm LOAN AGREEMENT DATED DECEMBER 20, 2010 BETWEEN CHINA INSONLINE AND LIU LU ex10_7f8k09162010.htm
Exhibit 10.7
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 Twenty Five Thousand Three Hundred and Twenty-Two Only for settlement of NOBO list, printer and relevant expenses.
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: Before June 30, 2011. 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
December 20, 2010 December 20, 2010
