The Loan Agreement (the “Agreement”) is entered into as of October 24, 2016 between the following two parties:
(1) Action Holdings Financial Limited Taiwan Branch (the “Lender”)
(2) Rich Fountain Limited (the “Borrower”)
The Lender and the Borrower will each be referred to as a “Party” and collectively referred to as the “Parties.”
WHEREAS, the Borrower wishes to borrow a short-term loan from the Lender for its short-term payments and the Lender agrees to provide such loan to the Borrower for such specified purpose.
NOW THEREFORE, the Parties agree as follows:
|1.||The Lender agrees to provide the loan at amount NTD 48,000,000 (the “Loan”) to the Borrower and agrees to remit such Loan to the account designated by the Borrower within 1 week of the effective date of this Agreement.|
|2.||Term for the Loan shall be from October 24, 2016 to April 23, 2017 (the “Term”) with a fixed interest rate at 4.5%. The principal amount of the Loan together with the accrued interest shall be paid in one lump sum before April 23, 2017.|
IN WITNESS WHEREOF, the Parties have duly executed this Agreement, or have caused this Agreement to be duly executed on their behalf, as of the date first hereinabove set forth.
Lender: Action Holdings Financial Limited Taiwan Branch
Borrower: Rich Fountain Limited