Capital Transfer Agreement among Weifang Yuhe Poultry Co. Ltd., Weifang Taihong Feed Co. Ltd., and Shandong Yuhe Food Group Co. Ltd.
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Summary
This agreement involves Weifang Yuhe Poultry Co. Ltd. and Weifang Taihong Feed Co. Ltd. (Party A) transferring a RMB 10,000,000 loan obligation to Shandong Yuhe Food Group Co. Ltd. (Party B). Party B agrees to assume the loan and repay the lender, Li Yu, using all its assets as security if it fails to pay on time. Party A is released from any civil liability related to the loan. The agreement is effective upon official stamping and is dated November 28, 2007.
EX-10.34 27 v135159_ex10-34.htm
Exhibit 10.34
Capital Transfer Agreement
Party A: Weifang Yuhe Poultry Co. Ltd., Weifang Taihong Feed Co. Ltd.
Party B: Shandong Yuhe Food Group Co., Ltd.
Party A borrowed RMB 10,000,000 from Li Yu. Due to Li Yu's failure to transfer the loan amount to Party A timely, Party A could not utilize the loan amount timely. In order to utilize the loan amount in a more efficient way, after negotiation between Party A and Party B, Party B has agreed to borrow and take over the RMB10,000,000 loan from Party A and Party B has the obligation to repay Li Yu. Party B has agreed to use all its assets as security for the loan should Party B fail to repay the loan amount on the scheduled date.
In this respect, Party B has agreed to perform its obligation as set out in an agreement entered by and among Li Yu, Party A, Party B and Mr. Gao Zhentao. Party A will not have any civil liability.
This agreement becomes effective after stamping.
| Party A: | ||
| Weifang Yuhe Poultry Co. Ltd. | Party B: | Shandong Yuhe Food Group Co. Ltd. |
| [Company chop] | [Company chop] |
Weifang Taihong Feed Co. Ltd.
[Company chop]
Date: November 28, 2007
