Loan Agreement between Shanghai Baby Fox Fashion Co., Ltd. and Zengquan Yu
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Summary
Shanghai Baby Fox Fashion Co., Ltd. has entered into a loan agreement with Zengquan Yu, who is lending the company ￥5,700,000 at an annual interest rate of 10%. The loan was disbursed in three installments on specified dates in May and June 2008. The loan term is two years from the date of the agreement. Both parties have signed and sealed the agreement on June 16, 2008.
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Loan agreement
| Borrower: | Shanghai Baby Fox Fashion Co., Ltd. |
| Lender: | Zengquan Yu |
This agreement is entered into by and between the Borrower and the Lender through friendly consultations, the Lender agrees to grant the Borrower ￥5,700,000 and the interest rate is 10% per year.
The Lender remits the Borrower for three times, the date and amount are as follow:
| May 16th, 2008 | ￥4,700,000; |
| June 5th, 2008 | ￥750,000; |
| June 16th, 2008 | ￥250,000; |
The period of this loan is 2 years.
| Borrower (Seal): Shanghai Baby Fox | Lender (Seal): Zengquan Yu |
| Fashion Co., Ltd. | |
| Date: June 16th, 2008 | Date: June 16th, 2008 |
