Document:

f8k021111a1ex10ix_chinagri.htm

Exhibit 10.9

 

                                          Loan Agreement

Party A (Debtor):  Wen County Keyuan Seed Research Institute

Legal Person Representative: Heping Cao

Party B (Creditor): Jiaozuo City Yida Vegetable Oil Co., Ltd.

Legal Person Representative; Hexi Feng

Based upon friendly negotiation between Party A and Party B, Party B agrees to make loans to Party A. A loan agreement (the “Agreement”) is entered to confirm respective responsibilities of each party, and both parties agree to be bound thereby in accordance with their own credit.

	
1.  

	
Party A shall receive from Party B a non-interest bearing loan of RMB 3,500,000 for the purposes of providing working capital for Party A’s seed cultivation. Within the following three years, Party B shall have the right of first refusal to promote and utilize the new seed products developed by Party A, but cannot otherwise affect Party A’s own promotion and utilization of the said new seed product at the same time. Party A shall provide technical support to Party B’s own seed cultivation during the process of its new product development.

	
2.  

	
The loan period shall be 3-year, from December 31, 2009 to December 30, 2012. (the actual date of loan issuance, the date of repayment and the actual loan amount shall be in accordance with bank statements or debtor’s receipts).

	
3.  

	
For the convenience of transferring loan and repayment, Party A and B specifically designate accounts as follows:

	
4.  

	 

     (1). The designated account payee of Party A is Wen County Seed Research Institute, account bank is Wen County Branch of Agriculture Bank, account number is 20341087800300000031521.

     (2). The designated repayment payee of Party B is Jiaozuo Yida Vegetable Oil Co., Ltd., account bank is Jiaonan Branch of Jiaozuo City Commercial Bank, account number is 703020102000013136.

      If any of the abovementioned bank accounts is subject to changes, a written notice concerning such changes should be given to the other Party within one business day of the said change. Any losses resulting from the failure of timely notification shall be borne by the party failed to do so.

	
5.  

	
Party A promises to use the loan proceeds for legitimate purposes and make repayments of the loan on time.

	
6.  

	
Party B is entitled to supervise the use of proceeds of the loan as well as the financial condition of Party A.

 

  

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7.  

	
Before the loan is fully repaid, Party A shall provide a 30-day notice in advance to Party B  and unless Party A provides Party B with debt repayment plan confirmed by Party B or repay debt before the due date, Party A shall not be engaged in the following activities: contracting or leasing, merger or spin-off, shareholding reform, forming joint venture or cooperative entities, property rights transfer and sale, restructuring assets or debts, share investment in other entities as well as applying for decreasing registered capital, suspension, shutdown, dissolution, cancellation of registration, bankruptcy or providing guaranty for third party, etc.

	
8.  

	
Party A shall provide a written notice to Party B within 3 days of any of the following changes of Party A:residence, correspondence address, contacting telephone number, business scope, legal representative, shareholder and organization type.

	
9.  

	
If an event occurs which imposes a material adverse effect on Party A’s regular business operation or Party A’s ability to perform the contract obligations under this Agreement, Party A shall provide a written notice to Party B within 3 business days of the occurrence of the event, which includes but not limited to, material litigation proceeding, enforcement of judgment, business license suspension, bankruptcy, financial condition deterioration, etc.

	
10.  

	
If any of the following events occurs in Party A, Party B is entitled to withhold loan issuance, to demand for repayment before the due date or  terminate this Agreement:

	
(1)  

	
Party A’s business conditions are seriously deteriorating;

	
(2)  

	
Party A transfers its assets and its capital secretly to evade the debt;

	
(3)  

	
Party A loses its commercial credibility;

	
(4)  

	
Party A changes the use of loan arbitrarily without the consent of Party B;

	
(5)  

	
Party A is unable to perform the obligations under Articles 6, 7 and 8 of this Agreement;

	
(6)  

	
Other circumstances showing that Party A loses or is possible to lose the capacity of repaying the loan.

	
11.  

	
If Party A is unable to repay the loan on time, a breach of contract damages that is equal to 5 ‰ per day of the overdue outstanding balance should be paid to Party B until the default is cured. If Party A fails to perform the contractual obligations under Articles 6, 7 and 8 of this Agreement, besides the remedies provided by Article 9 of this Agreement, Party B shall be entitled to damages that is equal to 5% of the principal amount of the loan.

	
12.  

	
Any disputes arising from this Agreement should be resolved by negotiation at first between Party A and Party B. If the negotiation does not go through, both parties shall have the right to bring a lawsuit before the people’s court of where Party B resides that have the jurisdiction over the matter.

 

  

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13.  

	
This Agreement shall become effective on the day signatures or seals are put into the Agreement from both parties.

	
14.  

	
 This Agreement is in duplicate, each Party shall hold one copy of the Agreement.

 

Party A (Debtor):

Wen County Keyuan Seed Research Institute (corporate seal)

By: /s/ Heping Cao

Party B (Creditor):

Jiaozuo City Yida Vegetable Oil Co., Ltd. (corporate seal)

By: /s/ Hexi Feng

Date: December 25, 2009

  

3f8k021111a1ex10x_chinagri.htm

Exhibit 10.10

 

Sub-contract Production Agreement of Wheat Seeds

Party A: Henan Kaide Seed Industry Science & Technology Co., Ltd.

Party B: Jiaozuo City Yida Vegetable Oil Co., Ltd.

In accordance with Economic Contract Law of People’s Republic of China, Seed Law of People’s Republic of China and relevant regulations, Party A entrust Party B to cultivate wheat seeds on the basis of equality and mutual benefit. In order to clarify the responsibility, rights and benefits of each of the contracting party, both parties agree in consensus to adopt and sign this Sub-contract Production Agreement (hereinafter called this “Agreement”).

	
1.  

	
Party A entrust Party B to cultivate wheat seeds, code for the production is: Ankang 58, the area for the cultivation shall be 15,000 mu.

	
2.  

	
Party A shall be responsible for providing cultivation materials which comply with the national standards. The actual weight of seed source provided shall be decided by technicians from both parties based upon type of seeds and land conditions. The seed source shall be repaid by Party B at the time of delivery of seeds cultivated with the same weight of physical wheat seeds, there shall be no margin between the seed source and repaid seeds.

	
3.  

	
Following Party A’s guidance, Party B shall enhance field management by fertilizing, watering as well as adopting pest control measures and roguing in a timely manner. Party B shall be responsible for paying fees incurred in the aforesaid activities. Party A shall be responsible for supervising the inspection of fields, acceptance of delivered seeds and related fees thereunder.

	
4.  

	
Party B shall be responsible for producing qualified seeds. Party B shall guarantee to achieve the purity standards as well as other standards required by national and relevant departments, which include, among other thins,  the amount of water shall not be exceeding 12.5%.  The time for delivery is from June 30, 2011 to July 30, 2011. The place for delivery is Jiaozuo City Yida Vegetable Oil Co., Ltd. Party A shall be responsible for the transportation in connection with the delivery of the said seeds. Upon acceptance of the seeds by Party B and after deduction by Party B the same actual weight of wheat seed in a return to Party A the original sowing seed source provided by Party A, Party A shall make a lump-sum payment to Party B at a price that is equal to 110% of the current market price of the miller wheat of the same kind at the place of delivery with respect to the remaining wheat seeds cultivated by Party B.

	
5.  

	
This Agreement is in duplicate. Each of Party A and Party B shall hold one copy of the same. This Agreement shall expire at the date of July 30, 2011.

Party A’s representative: /s/ Xiaoya Duan

Party B’s representative: /s/ Hexi Feng

Date: May 7, 2010f8k021111a1ex10xi_chinagri.htm

Exhibit 10.11

 

        Sub-contract Production Agreement of Wheat Seeds

Party A: Wen County Keyuan Seed Industry Co., Ltd.

Party B: Jiaozuo City Yida Vegetable Oil Co., Ltd.

In accordance with Economic Contract Law of People’s Republic of China, Seed Law of People’s Republic of China and relevant regulations, Party A entrust Party B to cultivate wheat seeds on the basis of equality and mutual benefit. In order to clarify the responsibility, rights and benefits of each of the contracting party, both parties agree in consensus to adopt and sign this Sub-contract Production Agreement (hereinafter called this “Agreement”).

	
1.  

	
Party A entrust Party B to cultivate wheat seeds, code for the production is: Wenmai 28, the area for the cultivation shall be 30,000 mu.

	
2.  

	
Party A shall be responsible for providing cultivation materials which comply with the national standards. The actual weight of seed source provided shall be decided by technicians from both parties based upon type of seeds and land conditions. The seed source shall be repaid by Party B at the time of delivery of seeds cultivated with the same weight of physical wheat seeds, there shall be no margin between the seed source and repaid seeds.

	
3.  

	
Following Party A’s guidance, Party B shall enhance field management by fertilizing, watering as well as adopting pest control measures and roguing in a timely manner. Party B shall be responsible for paying fees incurred in the aforesaid activities. Party A shall be responsible for supervising the inspection of fields, acceptance of delivered seeds and related fees thereunder.

	
4.  

	
Party B shall be responsible for producing qualified seeds. Party B shall guarantee to achieve the purity standards as well as other standards required by national and relevant departments, which include, among other thins,  the amount of water shall not be exceeding 12.5%.  The time for delivery is from June 30, 2011 to July 30, 2011. The place for delivery is Jiaozuo City Yida Vegetable Oil Co., Ltd. Party A shall be responsible for the transportation in connection with the delivery of the said seeds. Upon acceptance of the seeds by Party B and after deduction by Party B the same actual weight of wheat seed in a return to Party A the original sowing seed source provided by Party A, Party A shall make a lump-sum payment to Party B at a price that is equal to 110% of the current market price of the miller wheat of the same kind at the place of delivery with respect to the remaining wheat seeds cultivated by Party B.

	
5.  

	
This Agreement is in duplicate. Each of Party A and Party B shall hold one copy of the same. This Agreement shall expire at the date of July 30, 2011.

Party A’s representative: /s/ Heping Cao

(Corporate Seal)

Party B’s representative: /s/ Hexi Feng

(Corporate Seal)

Date: May 12, 2010

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