Document:

Baby Fox International, Inc. - Exhibit 10.1 - Filed by
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Exhibit 10.1

INDUSTRIAL BANK CO., LTD. 

LOAN AGREEMENT 

Contract Number: Hu Min SHX 201009013

Loaner: Shanghai Branch, Industrial Bank Co., Ltd. (Here after reference as “Party A”)

Address: No. 168 Hongbao Road                                                                                          

Representative: Baomei Xu                                                                                                    

Contact:_______________Title:_____________________________________

Mailing Address: No. 168 Hongbao Road                                                                                              

Post Code:
200041                                                               Fax:_____________________________ 

Telephone: 62677777                                                       Fax:_____________________________ 

 

Borrower: Shanghai Baby Fox Fashion Co., Ltd. (Here after reference as “Party B”) 

Address: No. 158 Baocheng Road, 98-150                                                                       

Representative: Jieming
Huang                                                                                        

Contact: ___________________Title:_____________________________

 Mailing Address: No. 158 Baocheng Road, 98-150____________________ 

Post
Code: 201100                                               Fax:_____________________________ 

Telephone: 54155373                                      Fax:_____________________________ 

 

July 2010 Version

1

Industrial Bank Loan Agreement 

Contract Number: Hu Min SHX 201009013

Loaner: Shanghai Branch, Industrial Bank Co., Ltd. (Here after reference as “Party A”)  

Borrower: Shanghai Baby Fox Fashion Co., Ltd. (Here after reference as “Party B”) 

Party B is applying for a loan from Party A as Purchases Loan for Purchases from Changzhou CTS Fashion Co., Ltd. 

Party A agrees to authorize such a loan. This agreement is made based on mutual understanding under related laws. 

I. Definitions 

II. Loan Currency and Total Loan Amount

RMB 7,000,000 

III. Purpose of the Loan 

This loan is for Purchases Loan for Purchases from Changzhou CTS Fashion Co., Ltd only. Party B can not use the loan under other purposes without permission of Party A. 

IV. Loan Maturity 

Total loan period is 12 months from Jan 12, 2011 to Jan 11, 2012.  

V. Loan Interest Rate and Interest 

5.1 Interest Rate 

5.1.1 Type of Interest Rate to Adopt

 [     ] 
 Fixed Interest Rate                
 [    ]  Floating Interest Rate 

 5.1.2 Determination of Interest Rate under the Agreement: 

For loan of RMB Yuan, the interest rate is 20% [     ]lower/[ X ] more than the basic rate of [   ]Monthly/[ X ] Quarterly reserve rate of RMB loan for financial institutions published by People’s Bank of China.  

5.1.3 If Party B doesn’t use the loan in the way as stated in this agreement, Party B would be charged 50% interest rate plus the original rate from the day that Party B changes it’s the loan purpose. If Party B doesn’t repay
the loan as agreed, Party B should be charged 50% of
the total interest rate for the overdue amount behind time. 

2

5.1.4 During the loan period, the interest rate can be adjusted accordingly if People’s Bank of China adjusts the rules for loan interest rate. 

5.2 Interest Calculation: The interest of the loan of Party B is calculated on the 20th day of each quarter on a quarterly base from the day that the loan is transferred into Party B’s account.
Daily interest is calculated based on rules and regulations from People’s Bank of China.  

5.3 Interest Payment: Party B should pay for the interest on each dated date. Party A can either deduct the interest amount from Party B’s account, or charge the compound interest for the interest amount that Party B doesn’t pay on time.

VI. Loan Requirements 

Follows by the procedures and rules by Industrial Bank. 

VII. Account Monitor and Prepayment 

N/A 

VIII. Repayment 

8.1 Party B repays the principle all at once at the maturity date. 8.2 Interest rate is calculated the same way for repayment. 

IX. Guarantee Clause  

9.1 Party B appoints ____ as the guarantor for the loan and interest agreed. 9.2 The loan under the Agreement is mortgaged by ____. 

X. Rights and Obligations of both Parties 

10.1 Party A’s Rights and Obligations 

10.1.1 Party A’s Rights 

10.1.1.1 Party A has the rights to have Party B repay the principle and interest on time in full amount. 

10.1.1.2 Party A has the right to have Party B provide documents related to the loan.

10.1.1.3 Party A has the right to know Party B’s business and financial
activities. 

10.1.1.4 Party A has the right to supervise Party B’s purpose using the loan. 

10.1.1.5 Party A has the right to deduct the interest directly from Party B’s
bank account. 

10.1.1.6 Party A has the right to transfer its creditor’s rights. 

 3

10.1.1.7 Party A has the right to reject Party B’s application for the loan before “Interest Payment Guarantee” is signed for credit business. 

10.1.1.8. Party A has all other rights stated in this agreement. 

10.1.2 Party A’s Obligations 

10.1.2.1 Party A should grant the loan as agreed to Party B. 

10.1.2.2 Party A should keep Party B’s financial, business and operation information confidential. 

10.2 Party B’s Rights and Obligations 

10.2.1 Party B’s Rights: 

10.2.1.1 Party B has the rights to withdraw and use the full amount of the loan. 

10.2.1.2 Party B can transfer the loan to a third party with the permission of
Party A. 

10.2.2 Party B’s Obligations: 

10.2.2.1 Party B should provide all true documents and bank account information
required by Party A. 

10.2.2.2 Party B should allow Party A to supervise Party B’s loan utility, business and financial related activities. 

10.2.2.3 Party B should use the loan under the purpose agreed in this Agreement. 

10.2.2.4 Party B should repay the principle and interest in full amounts on
time. 

10.2.2.5 Party B should have Party A’s permission before transferring the liability to any third parties.  

10.2.2.6 Party B should report to Party A and coordinate if any of below occurs. 

10.2.2.6.1 When significant financial crisis, capital loss of other crisis
occurs. 

10.7.2.6.2 When Party B mortgages its properties for protecting a third party’s
rights. 

10.2.2.6.3 When acquisition, restructure, reverse merger, property rights
transfer, or joint stock structure changes. 

10.2.2.6.4 When business terminated, license revoked, bankrupted or dismissed. 

10.2.2.6.5 When normal operation is influenced by shareholder change or
financial crisis of related parties. 

10.2.2.6.6 When normal operation is influenced by transactions with shareholders or transactions with related parties. 

 4

10.2.2.6.7 When any suit, arbitration or penalty related to business or
operation occurs. 

10.2.2.6.8 When any significant events occur what effect Party B’s ability to
repay the loan. 

10.2.2.7 Party B should defend its creditor’s rights and should not treat its
properties in inappropriate ways. 

XI. Statement and Commitment to Party B 

Both parties each guarantee all the documents provided are true and correct as they state. 

XII. Advance Payment 

N/A 

XIII. Disclosure Responsibility of Party B for Material Transactions 

Party B is obligated to report to Party A in writing for any transactions with related parties that with amount equals to or more than 10% of the loan principle. 

XIV. Breach and Solutions 

Each party violates the agreement if they violate any terms stated for each party respectively in section X. 

XV. Cross-Default 

Party B or related party of Party B or Party B’s guarantor all violates this agreement if they fail to apply the terms of this agreement.  

XVI. Continuity of Obligations 

This agreement holds the same effectiveness for the agent, heir of Party B and the principle of Party B after any mergers, acquisitions and changes of names. 

XVII. Principal and Interest and Fees due the Acceleration of the Terms 

Party A has the right to decide upon the acceleration of receiving the Principal and Interest and Fees if Party B fails to repay the principle and interest as stated in this agreement on time. 

XVIII. Governing Law and Venue 

18.1 This agreement will follow PRC law. 

[ X ]
18.2 If there is a dispute and cannot be solved, one of following three venues can be chosen: [ X ] 18.2.1 Local people court of Party A’s. 

 [    ]
 18.2.2 To apply for arbitration with _______. 

 [    ]
 18.2.3 China International and Trade Arbitration Commission or it sub commissions. 

 5

18.3 Party A can have the people court to authorize to enforce the repayment of the loan from Party B. 

XIX. Mails, Communications and Announcements 

XX. Effectiveness of the Agreement 

There are five copies of the Agreement, with Party A having four copies and Party B having one copy which all have same effectiveness.  

 

 

Party A: Stamp and Signature 

Party B: Stamp and Signature 

 

Signed on January 12, 2011f8k021111a2ex10vi_amretail.htm

Exhibit 10.6

 

 

	
 

ACCESSORY (LOAN) CONTRACT #22/12-01

 

 

	
Almaty City

	
December 22, 2010

Subsidiary Bank Sberbank JSC hereinafter referred to as the Bank represented by Head of the Investment Lending and Project Funding Department Mr. Vyacheslav Anatolyevich Pavlenko acting on the basis of Power of Attorney # 805-5/202 dated February 16, 2009, on the one hand, and SM MARKET RETAIL Limited Liability Partnership hereinafter referred to as the Borrower represented by its Director Ms. Farida Idayatovna Yazdigani acting on the basis of the Charter, on the other hand, ELIKA Limited Liability Partnership hereinafter referred to as the Co-borrower 1 represented by its Director Yefim Vitalyevich Papanov acting on the basis of the Charter, on the third hand, Vympel Group Limited Liability Partnership hereinafter referred to as the Co-borrower 2 represented by Mr. Timur Tahirovich Salavatov acting on the basis of Power of Attorney w/n dated December 20, 2009, on the fourth hand, and InterBir Limited Liability Partnership hereinafter referred to as the Co-borrower 3 represented by its Director Mr. Alexander Gusseinovich Salduzi acting on the basis of the Charter, on the fifth hand (at that Co-borrower 1, Co-borrower 2 and Co-borrower 3 are hereinafter referred to as the Co-borrower), hereinafter jointly referred to as the Parties have entered this Accessory (Loan) Contract within and in pursuance of Credit Facility Agreement #26/12 dated December 26, 2007 (hereinafter referred to as the “Agreement”) as follows:

 

	 
1. SUBJECT OF THE CONTRACT

  

1.1. The Bank extends to the Borrower a loan in the amount of KZT 575,277,600 (five hundred seventy five million two hundred seventy seven thousand six hundred tenge).

1.2. The loan is extended to the Borrower for the period from December 22, 2010 to December 21, 2011.

1.3. The Borrower undertakes to pay to the Bank for use of the loan an interest rate of 17% (seventeen percent) p.a. of the loan amount, while the efficient interest rate is 18.39% (eighteen point thirty nine per cent) p.a. The amount of interest shall be accrued for the actual balance of the loan, for the actual time of use thereof, based on a 360-day year and 30-day month. The variable interest rate shall be from 15% (fifteen per cent) to 17% (seventeen per cent) p.a. according to subparagraph d), paragraph 2,1 hereof.

1.4. The amount, interest calculation procedure, repayment schedule, and due dates may be changed as agreed by the Parties by signing a supplement agreement to the Accessory Contract.

	 
2. TERMS AND CONDITIONS OF LENDING

 

2.1. The loan shall be extended to the Borrower for the following purposes: replenishment of its working capital.

2.2. The Bank shall extend the loan by crediting current account of the Borrower # 035467997 with Subsidiary Bank Sberbank JSC for an amount of the loan.

2.3. The Borrower shall repay the principal amount and pay the interest  by means of money transfer  to the Bank by the deadlines and in the amount as set out in Schedule 1 hereto being an integral part hereof.

2.4. The Bank shall be entitled to withdraw (write off) without further authorization and irrevocably all amounts of  the Borrower’s overdue debt hereunder in any currency, including the principal amount, interest, expenses and losses associated with of the Borrower’s default hereunder, in a manner and using methods provided for herein and by the existing laws of the Republic of Kazakhstan.

 

	 
3. RESPONSIBILITIES OF THE PARTIES

 

3.1. The Bank and the Borrower shall be held liable to each other hereunder in accordance with the laws of the Republic of Kazakhstan. The Bank shall be responsible only subject to its intentional guilt which has caused real damage to the Borrower. The Borrower shall bear burden of proving the Bank’s guilt. The Bank must compensate for moral damage and/or lost profits under no circumstances.

 

  

1

  

 

	 
4. FINAL PROVISIONS

 

4.1. Relations between the Parties not regulated by this Accessory Contract shall be governed by the Agreement, which provisions have direct effect on relations between the Parties hereunder.

4.2. This Accessory Contract is executed in five Russian copies having equal legal effect, one copy for the Bank and one copy for the Borrower, one copy for Co-Borrower 1, one copy for Co-Borrower 2, and one copy for Co-Borrower 3.

 

	5. REGISTERED OFFICES AND BANK DETAILS OF THE PARTIES

 

THE BANK: Subsidiary Bank Sberbank JSC, 30/26 Gogol Str. / Kaldayakov Str., Almaty City, Republic of Kazakhstan, IIC 900161414 with the Department of Accounting of Monetary Transactions (OOKSP) of the National Bank of the Republic of Kazakhstan, code 125, BIC 190501914, TRN 600900050984, residence attribute - 1, code of economic sector - 4;

THE BORROWER: SM MARKET RETAIL Limited Liability Partnership, registered and street address: 38, Dostyk Ave., Almaty City, Republic of Kazakhstan, TRN 600900584869, IIC 035467997 with Subsidiary Bank Sberbank JSC, residence attribute - 1, code of economic sector - 7.

CO-BORROWER 1: ELIKA Limited Liability Partnership, registered and street address: apt. 37, building 57, microdistrict 1, Almaty City, Republic of Kazakhstan, TRN 600900165637, IIC 035467094 with Subsidiary Bank Sberbank JSC, residence attribute - 1, code of economic sector - 7.

CO-BORROWER 2: Vympel Group Limited Liability Partnership, registered and street address: 12, Vesnovka Str., Dorozhnik microdistrict, Almaty City, Republic of Kazakhstan, TRN 600500082273, IIC 035467395 with Subsidiary Bank Sberbank JSC, residence attribute - 1, code of economic sector - 7.

CO-BORROWER 3: InterBir Limited Liability Partnership, registered and street address: 95b, Angarskaya Str., Almaty City, Republic of Kazakhstan, TRN 600400507879, IIC 035467793 with Subsidiary Bank Sberbank JSC, residence attribute - 1, code of economic sector - 7.

	
 BANK

 

_______________signature, seal__________

(V.A. Pavlenko)

	
BORROWER

 

_______________signature, seal__________

(full name)

	
CO-BORROWER 1

 

_______________signature, seal__________

(full name)

	
CO-BORROWER 2

 

_______________signature, seal__________

(full name)

	
CO-BORROWER 3

 

_______________signature, seal__________

(full name)

  

2

  

Annex #1

to Accessory (Credit) Contract

# 22/12-01 dated December 22, 2010

DEBT REPAYMENT SCHEDULE

under Accessory (Loan) Contract

#22/12-01 dated December 22, 2010

	
Sr #

	
Date

	
Balance of the principal debt

	
Principal debt payable

	
Interests payable (15%)

	
Total sum payable

	
Interests payable (17%)

	
Total sum payable

	
1

	
21.01.2011

	
575 277 600.00

	
0.00

	
7 190 970.00

	
7 190 970.00

	
8 149 766.00

	
8 149 766.00

	
2

	
21.02.2011

	
575 277 600.00

	
0.00

	
7 190 970.00

	
7 190 970.00

	
8 149 766.00

	
8 149 766.00

	
3

	
21.03.2011

	
575 277 600.00

	
0.00

	
7 190 970.00

	
7 190 970.00

	
8 149 766.00

	
8 149 766.00

	
4

	
21.04.2011

	
575 277 600.00

	
0.00

	
7 190 970.00

	
7 190 970.00

	
8 149 766.00

	
8 149 766.00

	
5

	
21.05.2011

	
575 277 600.00

	
0.00

	
7 190 970.00

	
7 190 970.00

	
8 149 766.00

	
8 149 766.00

	
6

	
21.06.2011

	
575 277 600.00

	
0.00

	
7 190 970.00

	
7 190 970.00

	
8 149 766.00

	
8 149 766.00

	
7

	
21.07.2011

	
575 277 600.00

	
0.00

	
7 190 970.00

	
7 190 970.00

	
8 149 766.00

	
8 149 766.00

	
8

	
21.08.2011

	
575 277 600.00

	
0.00

	
7 190 970.00

	
7 190 970.00

	
8 149 766.00

	
8 149 766.00

	
9

	
21.09.2011

	
575 277 600.00

	
0.00

	
7 190 970.00

	
7 190 970.00

	
8 149 766.00

	
8 149 766.00

	
10

	
21.10.2011

	
575 277 600.00

	
0.00

	
7 190 970.00

	
7 190 970.00

	
8 149 766.00

	
8 149 766.00

	
11

	
21.11.2011

	
575 277 600.00

	
0.00

	
7 190 970.00

	
7 190 970.00

	
8 149 766.00

	
8 149 766.00

	
12

	
21.12.2011

	
575 277 600.00

	
575 277 600.00

	
7 190 970.00

	
582 468 570.00

	
8 149 766.00

	
583 427 366.00

	
TOTAL:

	
575 277 600.00

	
86 291 640.00

	
661 569 240.00

	
97 797 192.00

	
673 074 792.00

 

	
BANK

 

_______________signature, seal__________

(V.A. Pavlenko)

	
BORROWER

 

_______________signature, seal__________

(full name)

	
CO-BORROWER 1

 

_______________signature, seal__________

(full name)

	
CO-BORROWER 2

 

_______________signature, seal__________

(full name)

	
CO-BORROWER 3

 

_______________signature, seal__________

(full name)

 

 

3

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