Document:

Yayi International Inc.: Exhibit 10.2 - Prepared by TNT Filings Inc.

  

Exhibit 10.2

  Contract Code:Tianjin Rural Cooperative Bank Comprehensive Credit Kexing 2009018 

 

Comprehensive Credit Agreement

 

 

BORROWER:               

 Tianjin Yayi Industial Co., Ltd               

LENDER BANK: 

 Tianjin Rural Cooperative Bank Kexing Branch

	
Chapter One
		
 Definitions and Explanations
	
	
Chapter Two
		
 Maximum Credit Line and Specific Credit Line
	
	
Chapter Three.
		
 Credit Term
	
	
Chapter Four
		
 Use of the Maximum Credit Line and Specific Credit Lines
	
	
Chapter Five
		
 Fees
	
	
Chapter Six
		
Adjustment of the Maximum Credit Line and Specific Credit
Lines
	
	
Chapter Seven
		
 Guarantee
	
	
Chapter Eight
		
 Commitment of Party B
	
	
Chapter Nine
		
 Commitment of Party A
	
	
Chapter Ten
		
 The Validity of the Agreement
	
	
Chapter Eleven
		
Applicable Laws and Dispute Settlement
	
	
Chapter Twelve
		
Integrity of the Agreement
	
	
Chapter Thirteen
		
 Supplementary Articles
	

Debtor: Tianjin Yayi Industry Co., Ltd. (hereinafter referred to as Party A) 

Address: D-F4-C, Xinmao Technical Park, Huayuan New Technology Industry Area 

Corporate Representative: Liu Li 

Person in Charge: Zhang Yue 

Tel.: 27984058 

Fax.: 27984358 

Bank
of Account: Tianjin Rural Cooperative Bank Kexing Branch 

Account No.: 9170101000010000040384 

Creditor: Tianjin Rural Cooperative Bank Kexing Branch (hereinafter referred to as Party B)

Address: 148-6 Yingshui Road, Huayuan New Technology Industry Area, Tianjin City

Legal Representative: Cao Liqiang 

Person in Charge: Tian Jinguo 

Tel.:
23859929 

Fax.: Bank of Account: 

Account No.: 

In accordance with the Commercial Banks Law of PRC, Temporary Administrating Method of Warranty and Credit of Commercial Banks and other relavant rules and regulations, Party A and Party B, based on the principles of equality, willingness and
credibility, negotiated the following agreement (the “Agreement”) that will be observed by both Parties. 

CHAPTER ONE DEFINITIONS AND EXPLANATIONS

Article 1. 

Except otherwise defined in the Agreement, the terms in the Agreement are defined as follows: 

	
Comprehensive credit: conditional commitment of Party B to providing Party A with one or several lines of credit.

	
Specific business: pursuant to the comprehensive credit terms between Party A and Party B, Party B provides Party A with loans, acceptance drafts, financial support of trade and other types of credit.

	
Maximum credit line:
pursuant to the comprehensive credit terms between Party A and Party B, the
aggregate maximum amount of debts applied by Party A to Party B pursuant to the
comprehensive credit term.

	
	
Maximum uncovered
credit line: the maximum credit line minus guarantee bonds, deposits, treasury
bonds and pawns for acceptance drafts of Party A pursuant to the Agreement.

	
	
Specific credit
line: the maximum amount of debt applied by Party A to Party B in a single
credit line within the limit of the maximum credit line and its valid terms.

	
	
Used credit line:
the sum of debt principal balance that has not been repaid within the specific
credit line and the valid terms of the Agreement.

	
	
Maximum backup
credit line: the difference between the maximum credit line and all the used
credit lines.

	
	
Backup credit line:
the difference between specific credit line and used credit line in the same
specific business.

	
	
Specific business
contract: corresponding contract or agreement signed by Party A and Party B in
connection with a specific credit line.

	

CHAPTER TWO MAXIMUM CREDIT LINE AND SPECIFIC CREDIT LINE 

Article 2. 

The maximum credit line of the Agreement (the total sum of RMB and foreign currencies which is calculated according to exchange rates at the date of signing the Agreement) is RMB 
1,500,000 . The maximum uncovered credit line is RMB 1,500,000.

Article 3.  

Specific credit lines within the maximum credit line are: 

	
1. 		
General loans:

	
	 	 
		
Where, RMB  ____________

	

Foreign currencies: _____________

	
2. 		
Discounted notes: ______________

	
	 	 
	
3. 		
Acceptance drafts: ______________

	
	 	 
	
4. 		
Letter of credit: _____________

 Where, current issue: ___________

	

Long-term issue: ___________

	
5. 		
Financial support of trade:

	
	 	 
		
Where, documentary bills for import and export:  ____________

	

Packing credit:  ________________

	
6. 		
Guarantees (including bank guarantee): ____________________

	
	 	 
	
7. 		
Others (names should be specified): ____________________

	

CHAPTER THREE. CREDIT TERM

Article 4. 

The valid term of the maximum credit line is: from July 3, 2009 to May 21, 2010. 

CHAPTER FOUR USE OF THE MAXIMUM CREDIT LINE AND SPECIFIC CREDIT LINES 

Article 5. 

Pursuant to the valid credit term, maximum credit line and specific credit lines, Party A may in one ore more applications apply for specific credit lines to Party B. The written applications should contain the specific
purpose, term and amount, etc. Party B, based on Party A’s written application and credit status as well as Party B’s credit and loan policies, will specifically determine the amount and term of the specific application. 

Article 6.  

The aggregate amount of used credit lines shall not exceed the maximum credit line. Pursuant to the credit terms, Party A can reuse a specific credit line, i.e. when all the debt under a specific credit line has been
repaid, the credit line can be used for another business of the same kind.  

Article 7. 

Party A and Party B should sign a specific contract for a specific business. Wherever the Agreement is different from the terms of the specific business contract, the terms of the specific business contract shall supersede
the Agreement. 

Article 8. 

The initiating date of a specific business shall not exceed the deadline of the credit term and the use of the specific business should not exceed one year. 

CHAPTER FIVE FEES

Article 9. 

The interests, exchange rates, fees and other charges claimed by Party B for a specific business under the comprehensive credit shall be governed by the specific business contract. 

CHAPTER SIX ADJUSTMENT OF THE MAXIMUM CREDIT LINE AND SPECIFIC CREDIT LINES 

Article 10.  

In any of the following cases, Party B has the right to adjust the maximum credit line and credit term, or terminate the comprehensive credit service for Party A: 

	
1. 		
National currency policies are significantly changed;

	
	 	 
	
2. 		
Crucial or latent financial risks occur in the region of Party A;

	
	 	 
	
3. 		
Material changes occur to the market of Party A’s business;

	
	 	 
	
4. 		
Party A falls in or is in great business troubles or difficulties;

	
	 	 
	
5. 		
Party A has carried out business separation, merger, termination and other
important system changes.

	

	
 	
 
	
6. 		
Party A fails to use the credit funds pursuant the relevant PRC regulations.

	
	 	 
	
7. 		
Party A disposes property, capital and is attempting to escape debts.

	
	 	 
	
8. 		
Party A violates any item of the Agreement.

	
	 	 
	
9. 		
The guarantor of this agreement experiences serious shortage of funds or major
operational difficulties, materially affecting the security capacity. 

	

10. 

The damage and loss of the collateral for the guarantee and material impact on
the security of Party B. 

11. 

Any other events, by analysis or judgment of Party B, that have already reduced
or will reduce the repayment ability or impair the rights of Party B. 

Article 11.

After execution of the Agreement, if Party A decides to adjust the specific line of credit by written request and if Party B accepts by written agreement, the above-mentioned restrictions do not apply. 

CHAPTER SEVEN GUARANTEE 

Article 12.

 The guarantee means for credit’s right under the Agreement         The maximum guarantee:                

a. 

Guarantor TianJin Hi-tech Investment & Guaranty Co.,Ltd
sign the
2009018
(Contract No)Maximum Guaranteed Contract with Party B 

b.

Guarantor
sign the
(Contract No)Maximum Guaranteed Contract with Party B

2. The maximum mortgage guarantee:

a. 

Mortgagor
 sign the
(Contract No)Maximum Mortgage Contract with Party B 

b. 

Mortgagor
sign the
(Contract No)Maximum Mortgage Contract with Party B 

3. The maximum pledge guarantee

a.

Pledgor
sign the
(Contract No)Maximum Pledge Guaranteed Contract with Party B
Other regulations for guarantee:

Article 13.  

Although the methods of guarantee for creditor’s right has been stipulated in this chapter, Party B reserves the right to request Party A to provide other guarantee when the need arises during the specific
transactions, and Party A shall not refuse to provide such guarantee for the reason that the methods of guarantee has been stipulated in this chapter.  

CHAPTER EIGHT COMMITMENT OF PARTY B

Article 14.  

When Party A applies for the usage of specific line of credit according to the agreement, Party B shall accept the application and approve the request of Party A in time.  

Article 15. 

Unless otherwise stipulated, Party B cannot randomly make adjustments on the highest credit line and term of credit that are adverse to Party A. 

CHAPTER NINE COMMITMENT OF PARTY A

Article 16. 

The Parties shall discharge the debts or effect the payment of all the payable expenses on schedule according to the Agreement of specific business contract. 

Article 17. 

Party A shall use funds within specific line of credit and comply with the relevant laws and regulations, the Agreement and specific business contracts, and shall be available for inspection of Party B at any time. 

Article 18. 

Party A shall submit the authentic financial statements to Party B and provide Party B with the information of the main domestic deposit, bank account and balance of loans and deposits, and other relevant operation
documents during the term of credit. 

Article 19.  

Party A shall open a settlement account at the bank of Party B. The daily settlement balance of this settlement account shall be no less than ___ % of the aggregate line of credit.  

Article 20.  

Party A shall inform Party B in advance if it provides guarantee for a third party during the term of credit with the precondition that it shall not influence the debt repayment to Party B.  

Article 21. 

Party A shall perform following notification obligations during the term
of credit: 

1.  

In case of the alteration of the domicile or office of legal representative
(responsible person) or legal person, increase or decrease in registered
capital, alteration of stock ownership and major investment, etc Party A shall
inform Party B and provide relevant information within 15 days since the day of
alteration or change.  

2.  

During the term of credit, when Party A is involved in major litigation,
arbitration or other judicial procedure, or great changes take place in the
operation and financial situations which will affect the creditor’s right of
Party B, Party A shall inform Party B immediately.  

3.

During the term of credit, if Party A has assets reorganization in any form such
as acquisition, purchase or division, etc, or alteration of management rights of
enterprises in any form such as contracting and leasing, etc, or alteration of
enterprise organization and mode of operation, or termination of enterprise
operation such as application for dissolution or bankruptcy, Party A shall give
Party B two months notice and repay all the debts owed to Party B or arrange
debt repayment.

Article 22. 

Party A will constitute the breach of the contract if it violates any terms of the Agreement or any specific contract; and Party B will have the right to withdraw any financing capital under the line of credit in advance
and terminate the Agreement. 

Party A shall be responsible for any losses of Party B caused by the breach of contract by Party A. 

CHAPTER TEN  THE VALIDITY OF THE AGREEMENT

Article 23.   

The Agreement is concluded on the day when the legal representatives (responsible persons) or the entrusted agent of both parties apply their signatures and the corporate seal to the Agreement. The Agreement shall be
effective when the guarantee contract stipulated in the Agreement takes effect; if the Agreement doesn’t have guarantee contract, the Agreement will become effective upon the application of the signature of the legal representatives
(responsible persons) or the entrusted agent of both parties and the corporate seal.  

 CHAPTER ELEVEN  APPLICABLE LAWS AND DISPUTE SETTLEMENT 

Article 24.  

This Agreement and any matters related to it shall be governed by the Chinese laws, and interpreted according to Chinese laws.  

Article 25.

When disputes arise during the implementation of this Agreement, both parties shall negotiate actively for solution; when negotiation fails, the disputes shall be solved as follows: 

	
1. 		
Submit the disputes to the people’s court at the place of Party B;

	
	 	 
	
2. 		
Submit to Tianjin International Economical and Financial Arbitration Center of
China International Economic and Trade Arbitration Commission, and apply for the arbitration according to the existing financial dispute arbitration rules. 

	

CHAPTER TWELVE  INTEGRITY OF THE AGREEMENT

Article 26  

Every specific business contract (if the date of signature of the specific business contract is within the term of credit, or evidence proves that the contract is signed according to this agreement) signed by Party A and
Party B is the effective component of this Agreement and constitutes the whole agreement.  

Article 27

If Party A doesn’t fulfill the stipulated obligations in any specific business contract signed according to this Agreement, it will constitute the breach of this Agreement, and Party B will have the right to terminate
this Agreement and exercise all the creditor’s rights.  

Article 28 

For the matters that are not stipulated in this Agreement, Party A and Party B may enter into a separate written agreement as an addendum of this Agreement. Any addendum of this Agreement is an effective component of this
Agreement with equal legal force. 

Article 29 

 The attachments of this Agreement include:

 CHAPTER THIRTEEN SUPPLEMENTARY ARTICLES 

Article 30 

This Credit Agreement is made in quadruplicate, one for Party A, two for
Party B, and one for the guarantor with equal legal force. 

 

 

Article 31 

This agreement was concluded on July 3, 2009. 

Article 32 

Other matters stipulated by both parties:
(Page for signing, no content)

 

Accrediting party (seal):

 

Legal representative (seal): 

(or commission agent ) 

 

Accrediting party (seal)

 

Legal representative(seal) 

(or commission agent)Yayi International Inc.: Exhibit 10.3 - Prepared by TNT Filings Inc.

  

  Exhibit 10.3

Construction Agreement

Party A:   Weinan Hi-Tech Zone Meikegaote Goat Milk Product Ltd.

Party B:   Huangli Town Construction Patrol 

Based on the two parties’ consultation, Party B
agrees to undertake the civil engineering and equipment installation project of
Party A’s Goat Breed Farm. 

1. 

Project information: 

(1) 

project
name: Weinan Meikegaote Milk Goat Breed Centre 

(2) 

project
location: Shanxi Province Fuping Town (for specific project address see
appendix) 

(3) 

project content: goat barn, warehouse, refrigerating tank,
milk station building construction, hardened ground, ceiling, milking equipment
(16 digit), purchase and installation of milk tank, installation of water, well
and circuit, purchase and installation of solar energy, milk pump, heat
exchanger, enclosure and inside fitment. (for details see the Budget List) 

(4) 

contract
form: contract for labor and material 

2. 

Project term 

(1)

Main
project: start on June 20, 2009 

(2) 

Completion
date: complete on September 20, 2009 

3. 

Quality
standard: eligible 

4. 

The
parties’ liabilities: 

(1)

Party A:
take charge of three supplies and one leveling, shop drawing and relative
technical requirement, make payment in time according to contract. 

(2)

Party B: construct according to the blueprint and specific
requirements of Party A, if there are any changes, it should solved be by
negotiation. Party B should guarantee the construction quality and complete the
project on time. Party B should be responsible for all accidents which may occur
during the construction. 

5. 

Total Project Price:
according to budget, total price is: RMB 7360000.00.  

6. 

Documents included: 

(1)

Contract
agreement 

(2)

Shop
drawing 

(3)

Project
budget 

7. 

Method of Payment: 

(1) 

60% of the
Total Project Price as advance payment shall be paid after 10 days Party B
starts working on the building site. 

(2) 

15% of the
Total Project Price shall be paid after the bulk of the construction has been
completed. 

(3)

The
remaining of the Total Project Price shall be paid within one year after
the completion of the project. 

8. 

Contract effective date: 

(1)

The contract shall become effective upon signing by
both parties. 

(2)

The contract is written in two originals, each with
equal force, one for each party. 

	

    Party A: 	Party B:

Contract appendix:

Project budget table of Weinanmeikegaote Milk Goat Breed Farm 

	No	Item	Scale/quantity	Budget (ten thousand RMB)
	
    1
	
    Goat barn
    (200)
	
    10
	
    300

	
    2
	
    Goat barn
    (400)
	
    2
	
    90

	
    3
	
    hardened
    ground, ceiling
	
    15*3+45
	
    90

	
    4
	
    Milking
    equipment (16 digit)
	
    4
	
    44

	
    5
	
    Milk tank,
    milk storage slot
	
    4
	
    20

	
    6
	
    Water well,
    electricity
	
    1
	
    16

	
    7
	
    Solar energy
    equipment
	
    4 set
	
    2

	
    8
	
    Enclosure,
    bounding wall, door
	
     
	
    72

	
    9
	
    Milk pump,
    pipe
	
     
	
    6

	
    10
	
    Plate hear
    exchanger
	
     
	
    8

	
    11
	
    Storage
    tank, warehouse
	
    8
	
    84

	
    12
	
    Inside and
    outside fitmentbrim
	
     
	
    4

	
    13
	
    Total
	
     
	
    736

Capital construction address:

	No	Place	Concrete position	Area (hectare)	livestock	Construction Scale	Capital construction

    (ten thousand RMB)
	
    1
	
    Yan village
	
    Gongli toen
    Dong village nine group
	
    25
	
    800
	
    200 unit
	
    126

	
    2
	
    Longquan
    village
	
    Liuji town
    Longquan village
	
    20
	
    800
	
    200 unit
	
    125

	
    3
	
    Santiao
    village
	
    Zhuangli
    town Santiao village four group Wolong mountain
	
    90
	
    1200
	
    600 unit
	
    397

	
    4
	
    Huazhu
	
    Huazhu
    villagezhaopo six group Yan village slope
	
    15
	
    400
	
    200 unit
	
    88

Total:  RMB 7.360,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]