LOAN EXTENSION AGREEMENT
Exhibit 10.8
Party A : Xxx Xx (刘璐)(Identity Card no.:130203197805150323)
Party B : China INSOnline Corp.
Party C : Ever Trend Investment Limited(德祥投资有限公司)
Whereas Ever Trend Investment Limited is 100% owned subsidiary of China INSOnline Corp.;
Whereas Party B and Party C have borrowed a series of loans in total amount of USD374,445 from Party A during the period from September 16, 2010 to December 20, 2010, which are summarized as below:
Date of borrowing
|
Borrower
|
Amount of loan
|
Due date
|
Sep 16, 2010
|
Ever Trend Investment Limited
|
USD100,500
|
Dec 31, 2010
|
Oct 10, 2010
|
Ever Trend Investment Limited
|
USD40,000
|
Dec 31, 2010
|
Oct 16, 2010
|
USD100,000
|
Dec 31, 2010
|
|
Nov 04, 2010
|
USD98,623
|
Dec 31, 2010
|
|
Xxx 00, 0000
|
Xxxxx INSOnline Corp.
|
USD10,000
|
Dec 31, 2010
|
Xxx 00, 0000
|
Xxxxx INSOnline Corp.
|
USD25,322
|
Jun 30, 2011
|
In consideration of friendly negotiation, all Party A, Party B and Party C agree the terms as below:
1. Due date of the repayment of all loans extend to June 30, 2011;
2. All other terms of original agreements of above loans have no change;
3. If there is any discrepancy with the loan agreements between Party A and Party B, and/or between Party A and Party C, this Agreement prevail;
4. This Agreement is in triplicate and each party has one.
5. This Agreement is effective from the date of execution.
Party A:
Xxx Xx (刘璐)
/s/ Xxx Xx
Party B:
/s/Xxxx Xxxxxx
Party C:
Ever Trend Investment Limited
(德祥投资有限公司)
/s/Xxxx Xxxxxx
December 23, 2010