Amendment to Loan Agreement No. GDK476780120070027 between Bank of China and Guangzhou City Clifford Development (Panyu) Company Limited
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Summary
Bank of China and Guangzhou City Clifford Development (Panyu) Company Limited have agreed to amend their existing loan agreement dated January 19, 2008. The amendment cancels the previous requirement for the borrower to provide a pledge as security. However, the bank reserves the right to require a new guarantor or pledge from the borrower at its discretion in the future.
EX-10.2 3 v114274_ex10-2.htm Unassociated Document
Exhibit 10.2
Summary of Amendment to the Loan Agreement
| No. | GDK476780120070027 |
| Bank: | Bank of China |
| Borrower: | Guangzhou City Clifford Development (Panyu) Company Limited |
| Date: | January 19, 2008 |
| Subject: | Both parties agreed to amend Clause 9 of the Loan Agreement No.GDK476780120070027. |
| New clause: | Bank of China cancels the pledge requirement for the borrower and when the Bank of China deems fit the borrower will be required to provide a new guarantor or pledge. |
