Loan Extension Agreement among Liu Lu, China INSOnline Corp., and Ever Trend Investment Limited dated December 23, 2010

Contract Categories: Business Finance › Loan Agreements
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.

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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