XingYe Bank Short-term Loan Agreement serial numberæXing Yin Jing Shi ø2006÷string Liu Fifth
Exhibit
10.01
XingYe
Bank Short-term Loan Agreement
serial
numberæXing Yin Xxxx Xxx ø2006÷string Liu Fifth
|
Loaner:
|
XingYe
Bank
|
||||
|
Address:
|
Beijing
Shi Xx Xxx Branch ,No. 1 Fu Xing Road, Hai Xxxx district, Beijing
City.
100038
|
||||
|
Contact
number:
|
00000000
|
Fax
number:
|
00000000
|
||
|
Borrower:
|
Beijing
Telestone
|
||||
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Address:
|
6/F,
Saiou Plaza, Xx.0, Xxxxxxx Xxxx Xxxxxxx Xxxxxxxxxx Xxxx, Xxxxxxx
000000,
Xxxxx
|
||||
|
Contact
number:
|
00000000
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Fax
number:
|
00000000
|
||
|
Signing
place:
|
Hai
Xxxx District, Beijing
|
||||
Article
one: Amount
10million
RMB
Article
two: Function
Supplement
liquid fund
Article
three: Period
Twelve
months; from 16 June 2006 to 16 June 2007
Article
Four: Interest rate
Adjusted
monthly and 130% of national standard rate ( in the same period and the same
level).
Article
Five: Penalty rate
50%
higher than loan interest rate
Article
Six: Repayment
According
to this Agreement, the borrower shall repay the principle and interest on
time.
Article
Seven: Guarantee
The
following agreements are guarantees of this agreement:
| 1. |
Promissory
Agreement of XingYe Bank (Bao Zi No.5-1 Xing Yin Xxxx Xxx (2006)
).
Guarantee
method: related guarantee.
Warrantor:
China Hua Da Economy Guarantee Ltd.
|
| 2. |
Personal
guarantee statement: (Xx Xxx Zi No.5-2 Xing Yin Xxxx Xxx (2006)
)
Guarantee
method: Personal related guarantee.
Warrantor:
Han Daqing
|
Article
Eight: Statement and Promise:
| 1. |
The
borrower states that the company is a legally registered company
and has
rights to sign and perform this agreement.
|
| 2. |
The
loan under this agreement is authorized by the Board of Directors
of the
company or its highest powerful organization of the company. All
the
Articles of this agreement do not breach the regulations, laws, policies
and rules of the company.
|
| 3. |
There
is no other mortgage, impawn, lien and debt liability except which
has
stated in this agreement and no other pending legal proceedings as
well.
|
| 4. |
The
borrower does not hide any issues which may cause the loaner do not
sign
this agreement.
|
Article
Nine: Withdrawal in advance
During
the loan period, the loaner can withdrawal the loan in advance when the
following issues happened,
| 1. |
the
borrower owns interests
|
| 2. |
the
operating profit drops sharply
|
| 3. |
the
borrower involves in the legal
proceedings
|
| 4. |
untrue
financial statements and materials
provided
|
| 5. |
the
borrower peculates the loan
|
| 6. |
the
borrower rejects the inspection and supervision of
loaner
|
| 7. |
significant
affairs happened on the borrower
|
| 8. |
unsafe
situation happened to the loan
|
Article
Ten: Breach Liability
Any
breach of this agreement is defined as breach.
If
the
borrower breaches the agreement, the loaner has rights to take the following
measure,
| 1. |
making
a deadline for putting right
|
| 2. |
stopping
drawing
|
| 3. |
terminating
the agreement
|
| 4. |
asking
the penalty interests if it exceed the loan
period
|
| 5. |
asking
the peculating penalty if the borrower
peculates
|
| 6. |
asking
the interests of loan interests
|
| 7. |
taking
out the principle and interests of loan from any account of the
borrower
|
| 8. |
using
legal method to take the loan back
|
The
borrower shall pay any loss of repayment which does not follow this
agreement
-2-
If
the
following issues happened on the guarantors, the loaner has rights to take
the
measures as above,
| 1. |
the
guarantor breaches the guarantee agreement or its credit standard
goes bad
|
| 2. |
the
mortgagor breaches the mortgage agreement or destroys the
guarantee
|
| 3. |
the
person for impawning breaches the impawning agreement or the value
of
impawning drops sharply
|
Article
Eleven: Abandon of rights and performance of liability
| 1. |
The
borrower is independent from any party of this agreement or the third
party.
|
| 2. |
Any
tolerance and extension allowed by the loaner do not affect the rights
and
obligation of this agreement
|
Article
Twelve: Jurisdiction
This
Agreement and any other ancillary agreement between the parties shall be
governed by the laws
of
China.
Article
Thirteen: Notice
| 1. |
Any
related notice and contact need to be send according to the contact
information showed on the cover of the
agreement.
|
| 2. |
Once
any party changes the contact information, it should notice the other
party in time.
|
| 3. |
If
any notice or contact is send according above address, which can
be
considered as received as the following day
respectively,
|
| (1) |
The
fifth business day of the letter
send
|
| (2) |
Receiving
the confirmation signal of counter party for
fax
|
| (3) |
Signature
of the delivery
|
| 4. |
The
parties negotiated that both parties’ official seals are effective stamps
on the agreement. Any person of the borrower can represent the company
to
receive the mail and related documents.
|
Article
Fourteen: Effective period
This
agreement enters into the effective period when the following terms
happened,
| 1. |
Both
parties sign or seal
|
| 2. |
The
attached guarantee agreement has been effective
|
| 3. |
Notarial
proceeding has been done
|
This
agreement is valid until all the principle, interests and other debt are repaid
off.
Article
Fifteen: Document
This
Agreement is executed four originals. Two parties, notarial office and Guarantee
Company have one original respectively. Any counterparts are revised and
enlarged as needed.
Article
Sixteen: Supplement
-3-
| Loaner | seal | Beijing Shi Xx Xxx Branch of Xing Ye Bank |
Legal
Representative of Xing Ye Bank: /s/
Xx
Xxxx
Xx
Xxxx
| Borrower | seal | Beijing Telestone |
Legal
Representative of Beijing Telestone: /s/
Han Daqing
Han
Daqing
16th
June,
2006
-4-
