Loan Extension Agreement among Liu Lu, China INSOnline Corp., and Ever Trend Investment Limited dated December 23, 2010
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Summary
This agreement is between Liu Lu, China INSOnline Corp., and Ever Trend Investment Limited. It extends the repayment deadline for a series of loans totaling $374,445, originally due by December 31, 2010, to June 30, 2011. All other terms of the original loan agreements remain unchanged. If there are any conflicts between this agreement and previous loan agreements, this agreement will take precedence. The agreement is effective as of December 23, 2010.
EX-10.8 9 ex10_8f8k09162010.htm LOANS EXTENSION AGREEMENT DATED DEC 23, 2010 ex10_8f8k09162010.htm
Exhibit 10.8
LOAN EXTENSION AGREEMENT
Party A : Liu Lu (刘璐)(Identity Card no.:130203197805150323)
Party B : China INSOnline Corp.
Party C : Ever Trend Investment Limited(德祥投资有限公司)
Whereas Ever Trend Investment Limited is 100% owned subsidiary of China INSOnline Corp.;
Whereas Party B and Party C have borrowed a series of loans in total amount of USD374,445 from Party A during the period from September 16, 2010 to December 20, 2010, which are summarized as below:
Date of borrowing | Borrower | Amount of loan | Due date |
Sep 16, 2010 | Ever Trend Investment Limited | USD100,500 | Dec 31, 2010 |
Oct 10, 2010 | Ever Trend Investment Limited | USD40,000 | Dec 31, 2010 |
Oct 16, 2010 | China INSOnline Corp. | USD100,000 | Dec 31, 2010 |
Nov 04, 2010 | China INSOnline Corp. | USD98,623 | Dec 31, 2010 |
Dec 01, 2010 | China INSOnline Corp. | USD10,000 | Dec 31, 2010 |
Dec 20, 2010 | China INSOnline Corp. | USD25,322 | Jun 30, 2011 |
In consideration of friendly negotiation, all Party A, Party B and Party C agree the terms as below:
1. Due date of the repayment of all loans extend to June 30, 2011;
2. All other terms of original agreements of above loans have no change;
3. If there is any discrepancy with the loan agreements between Party A and Party B, and/or between Party A and Party C, this Agreement prevail;
4. This Agreement is in triplicate and each party has one.
5. This Agreement is effective from the date of execution.
Party A:
Liu Lu (刘璐)
/s/ Liu Lu
Party B:
China INSOnline Corp.
/s/Wang Zhenyu
Party C:
Ever Trend Investment Limited
(德祥投资有限公司)
/s/Wang Zhenyu
December 23, 2010