Liquid Capital Loan Contract of Agricultural Bank of China (Contract No. : [●])
Exhibit 10.13
Liquid Capital Loan Contract of Agricultural Bank of China
(Contract No. : [●])
Borrower: Zhejiang Zhengkang Industrial Co. Ltd
Address: No. 678 Dingxiang Road, Binhai Industrial Park, Economic & Technology Development Zone, Wenzhou, Zhejiang Province, People’s Republic of China 325025
Loaner: Agricultural Bank of China. Wenzhou Longwan Branch
Phone: [●]
| I. | Loan Amount: |
Currency: RMB.
Amount: ¥[●]
| II. | Loan period: |
The loan period is [●] year, starting from the [●], and the maturity date is [●].
| III. | Loan purpose: |
The purpose of this loan is for capital turnover.
| IV. | Loan interest rate, interest calculation and interest settlement: |
| 1. | Loan Prime Rate shall be adjusted annually. |
| 2. | Loan interest rate is calculated pursuant to No. [ 1 ] |
| 1) | Fixed rate: Loan interest rate is calculated pursuant to the LPR published by People’s Bank on the date one business day prior to execution of this contract plus [●]bp. and the annual interest rate is [●]% until the maturity date. |
| 2) | Fluctuated rate: the actual withdrawal date (or the first withdrawal date if installment withdrawal) will be the starting date, and every [●] months will be a fluctuation period. |
| 3. | Loan Interest Rate shall be settled monthly. The [●]th of each month would be interest settlement date. Borrower shall pay loan interest on the date of interest settlement. |
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| 4. | If the loan is used in violation of the purpose of this agreement, the penalty interest will be calculated and the penalty interest will be increased [●]% of the loan interest under this contract. |
| 5. | If Borrower does not repay the loan on time and no agreement is reached between Borrower and Loaner, the penalty interest will be increased [●]% of the loan interest under this contract. |
| 6. | Compound interest: if Borrower fails to pay the loan interest, Borrower needs to pay the compound interest since the breach date on monthly basis. |
| V. | Repayment of Loan Principal |
| 1. | Borrower shall deposit the loan due on the account appointed by Loaner one day prior to the maturity day and irrevocably authorize Loaner to transfer the funds away. |
| 2. | If Borrower needs to extend the repayment date, Borrower shall submit an application to Loaner [●] days prior to the maturity date of this contract. Upon Loaner’s approval, Borrower can execute an agreement to extend the maturity date. |
| 3. | If Borrower wants repay the loan prior to the maturity date, Borrower shall notify borrower in writing [●] days in advance. If both parties reach the agreement, Borrower can repay the loan before the maturity date pursuant to the provisions of this contract. |
| VI. | Guarantee |
| 1. | The guarantee type for performance of this contract is pledge. |
| 2. | The contract number of Maximum Guarantee Contract is [●]. |
| VII. | Miscellaneous: |
| 1. | Any disputes arising from the performance of the contract shall be submitted to the court located in the place where Loaner resides. |
| 2. | This contract is written in 3 copies and each copy has same legal effect. |
Borrower: Zhejiang Zhengkang Industrial Co. Ltd
Loaner: Agricultural Bank of China. Wenzhou Dragon Bay Branch.
Execution time: [●]
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