Loan Agreement between Sanhe City Lucksky Electrical Engineering Limited Company and Lucksky Kelitai Air Power Machinery Co., Ltd. Yaojiao Branch
Sanhe City Lucksky Electrical Engineering Limited Company (the Borrower) and Lucksky Kelitai Air Power Machinery Co., Ltd. Yaojiao Branch (the Lender) entered into a loan agreement on April 25, 2015. The Lender provided a loan of RMB 3,150,000 to the Borrower, with repayment due by December 31, 2015. If repayment is delayed, the Borrower must apply in writing for an extension, subject to the Lender's approval. Disputes will be resolved through negotiation, arbitration, or court proceedings. The contract is effective upon signing, with each party retaining a copy.
Loan Contract
Through amiable and fully negotiation, Sanhe City Lucksky Electrical Engineering Limited Company (hereafter referred to as the Borrower) and Lucksky Kelitai Air Power Machinery Co., Ltd. Yaojiao Branch office, (hereafter referred to as the Lender) come into the following Contract to perform:
Art. 1. On April 25, 2015, the Lender lent RMB Three Million One Hundred and Fifty Thousand Only (in words) (¥3,150,000) to the Borrower. The repayment deadline is December 31, 2015.
Art. 2. The Lender shall lend money to the Borrower strictly in accordance with the national credit policies and plans. Otherwise, the Lender shall pay the Borrower penalty by day based on the default amount. The calculation of default amount will be the same as that of interest amount for overdue loan.
Art.3. The Borrower shall guarantee to repay the loan principal in time. If delay is inevitable, the Borrower shall provide written application before loan maturity. Only after the Lender agrees its delay application and signs the delay repayment agreement, can the Borrower delay the repayment. In case the Borrower doesnt provide delay application or both parties dont come into a delay agreement, the Lender will require the Borrower paying another 5 % of the default amount as interest from the maturity time.
Art. 4. In case of any disputes, both parties shall negotiate with each for solution. If the negotiation fails, the second way shall be taken for solution:
1. Apply to the Sanhe Arbitration Committee for arbitration;
2. Apply to the Peoples Court for prosecution.
Art. 6. This Contract will come into effect from the signing date.
This Contract is in duplication with each party holding one copy.
Lender (official seal): | ![]() |
Legal Representative: |
Borrower (official seal): | ![]() |
Legal Representative: | |
Date: April 25, 2015 |