EXHIBIT 10.7
TERM LOAN AGREEMENT
Party A (hereinafter referred to as the "Lender"): Tianjin Tianshi Biological
Development Co., Ltd.
Party B (hereinafter referred to as the "Borrower"): Tianjin Tianshi Biological
Engineering Co., Ltd.
The Lender and the Borrower have reached and signed a loan agreement which
should be observed by both parties.
In order to support the business development of the Borrower, the Lender agrees
to extend the loan agreement that was signed on June 29, 2006, and makes the
following according amendments:
1. The amount of the loan: XXX 000 million ((yen)200,000,000.00);
2. The term of the loan agreement: from January 1, 2007 to June 30, 2007;
3. The type of the loan: short-term loan;
4. The interest of the loan: at a rate that is equal to the contemporary
interest rate for the same level of the loan published by the People's
Bank Of China;
5. The Borrower guarantees to repay the principal and interest of the
loan by June 30, 2007, and the terms of the loan agreement shall not
be breached.
6. With approval from the Lender the Borrower can pay off the loan before
June 30, 2007. The interest of the loan shall be calculated until the
day on which the principal of the loan is repaid, and no fine shall be
imposed on the Borrower for advancing the repayment of the loan.
The Lender: The Borrower:
Tianjin Tianshi Biological Development Tianjin Tianshi Biological Engneering
Co., Ltd Co., Ltd
By /s/ Xxxxxxx Xx By /s/ Xxxxxx Xx
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Title: General Manager Title: Director
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December 22, 2006 December 22, 2006
