Document:

agreement10mrmb.htm

Exhibit 10.6

Loan Contract

Borrower (Party A): Anhui Wonder Computer School

 

Address:____________________________________

 

Legal representative: ___________________________

 

Lender (Party B): Hefei Huangshan Road Branch of Huishang Bank

 

Address:____________________________________

 

Legal representative: ___________________________

  

  

  

         

   Contents

Article 1  The Type of Loan

 

Article 2   Loan Use

 

Article 3   Loan Amount and Term

 

Article 4   Loan Rate and Interest

 

Article 5   Repayment Resources and Methods

 

Article 6   Guarantee

 

Article 7   Parties’ Rights and Obligations

 

Article 8   Default Responsibility

 

Article 9   Effective, Change, Dissolution and Termination of the Contract

 

Article 10  Settlement of Dispute

 

Article 11  Other Clauses

 

Article 12  Supplementary Provisions

  

  

  

Because of the need in Article 2 (1), Party A wants to borrow money from Party B, and Party B has agreed to the loan. After equal consultation, parties agree to sign this contract to make clear parties respective rights and obligations, according to “Contract Law of China” and “Loan General Provisions of China”. Party A has read all the articles in this contract and understands the meaning and the relevant legal consequence of them, especially the underlined articles.

Article 1  The Type of Loan

 

The loan is short-term loan.

Article 2   Loan Use

 

The loan is used for business turnover.

Without Party B’s written approval, Party A can not change the loan use.

Article 3   Loan Amount and Term

 

3.1 The loan amount is RMB 10 million.

3.2 Both parties agree, according to Party A’s operation needs, Party A can apply the loan from September 14, 2009 to September 14, 2010, in one time or several times.

3.3 Loan receipt, as the constituent of contract, should be filled out by Party A. After Party B’s written approval, the actual beginning day and ending day depends on the loan receipt.

Article 4   Loan Rate and Interest

 

4.1 The loan rate is made on the basis of the loan rate of People’s Bank of China, with a floating-rate of 20%. In the loan term, rate of short-term loan will not be changed.

4.2 The interest is counted from the date of loan release. Interest is paid by quarter, on 20th of the end month of every quarter.

Article 5   Repayment Resources and Methods

 

5.1 Operation revenue is the main resource of repayment, but not the only resource.

5.2 Any other agreed repayment resource in Party A’s other loan contract can not effect its repayment obligation in this contract. Party A can not refuse the repayment obligation in any condition.

  

  

  

 

5.3 Party A should pay the interest and the loan capital on time.

5.4 Before the deadline of the repayment, Party A should leave enough money in bank account for Party B to recall the loan.

Article 6   Guarantee

 

6.1 Guarantee method: joint liability

6.2 Party A should help Party B and guarantor to sign the named “2009 loan 1500909003” Guarantee Contract.

6.3 After Party B’s notification, Party A should provide another guarantee to assure Party B’s creditor’s right if the previous one has some change that is bad for Party B’s right.

Article 7   Parties’ Rights and Obligations

 

7.1 Party A’s right and obligation

7.1.1 Use the money in the way as agreed in the contract and receipt.

7.1.2 Without Party B’s approval, Party A can not pay back the loan in advance.

7.1.3 Responsible for the materials provided to Party B for loan checking

7.1.4 Accept Party B’s supervision for the treatment of the loan

7.1.5 Responsible to provide financial statements relevant to the loan to Party B. Coordinate with Party B’s supervision of Party A’s operation and financial condition.

7.1.6 Pay back the loan and the interest on schedule under the contract.

7.1.7 Bear the relevant cost of this contract, including (but limited) justice, appraise, evaluation and registration.

7.1.8 Sign and mail back the letters received from Party B.

7.1.9 If such enterprise transformations happen as spin-offs, merger, combination, joint venture with foreigners, contract operation, restructuring, transfer to paid-in capital that can affect Party B’s creditor’s right, Party B should be informed immediately. If Party A is not a public company, Party B should be noticed in three days. If Party B does not agree with the transformation, Party A should repay the loan immediately.

  

  

  

7.1.10 If Party A changes its business registration contents, such as company name, legal representative, address, business scope, registered capital, shareholders structure, Party B should be notified in 7 days after the changes.

7.1.11 If significant economic dispute cases, bankruptcy and financial condition deterioration happen, Party A should give written notice to Party B.

7.1.12 If business close, dissolution, recession and license cancellation happen, Party A should notify Party B in 5 days in written form and repay the loan immediately.

7.1.13 Party A should keep the financial index requested by Party B.

7.2 Party B’s right and obligation

7.2.1 Ask for the relevant materials of loan from Party A

7.2.2 Transfer Party A’s payable loan, interest and other fees from Party A’s bank account.

7.2.3 Has the right to carry out credit sanction, make public announcement, if Party A violates the contract and escape supervision and default in payment on the loan.

7.2.4 Provide loan to Party A after receiving Party A’ s loan receipt.

7.2.5 Keep secret the information provided by Party A, such as debits, finance, production and operation, except some agreed and regulated in this contract and the law.

Article 8   Default Responsibility

 

8.1 After the contract is effective, both parties should fulfill the obligations. If any party which violate the contract should bear default responsibility.

8.2 Party B has the right to collect the late fee by the contract agreed rate on day basis, if Party A does not conduct loan as article 3.2 stipulates.

8.3 Party A has the right to collect the late fee by the contract agreed rate on day basis, if Party B does not provide loan as article 3.2 stipulates.

8.4 If Party A repay the loan in advance with Party B’s agree, Party B has the right to collect interest on the rate and loan term regulated in the contract.

8.5 If Party A fails to repay the due loan and interest, Party B has the right to ask a final discharge, to offset Party A’s debit with the money in Party B, to collect penalty interest,

  

  

  

the rate of which is 150% of the actual loan rate agreed in contract. The compound interest of the unpaid interest will be required.

8.6 If Party A does not use the money in the way agreed in the contract, Party B has the right to retract all or part of the loan or terminate the contract, and order penalty on day basis, the rate of which is 200% the actual loan rate agreed in contract. The compound interest of the unpaid interest will be required.

8.7 If Party A let the practice in article 8.5 and 8.6 happen at the same time, Party B should choose the worse one to punish Party A, not both.

8.8 If one of the below practices happens, Party A should rectify it and take some remedy measures to satisfy Party B in 7 days after receiving Party B’s notice, otherwise, Party B has the right to retract all or part loan. For the part that can not be taken back, penalty will be required on overdue rate on day basis.

8.8.1 Provide the false financial statements.

8.8.2 Don’t coordinate or refuse Party B’s supervision over Party A’s business operation and financial activities relevant to the loan.

8.8.3 Without Party B’s approval, transfer or handle its assets.

8.8.4 Party A’s part or all of the assets is possessed, detained or frozen by other creditors, which could have severe adverse effect on Party B.

8.8.5 Without Party B’s approval, Party A carries out any kind of such enterprise transformations as spin-offs, merger, combination, joint venture with foreigners, contract operation, restructuring, transfer to paid-in capital and so on.

8.8.6 Party A changes its business registration contents, such as company name, legal representative, address, business scope, registered capital, shareholders structure.

8.8.7 Party A is involved in significant economic dispute or financial deterioration, which effects Party B’s creditor’s right.

8.8.8 Other practices that have adverse effect on Party B’s creditor’s right.

 

 

 

  

  

  

 

 

Article 9   Effective, Change, Dissolution and Termination of the Contract

 

9.1 The contract becomes effective after the signing and seal. Guarantee comes into effect after the signing of guarantee contract. The principal, interest, compound interest, penalty and other fees will be ended after being cleared off.

9.2 If one of below practices happens, Party B has the right to cancel the contract and ask Party A to pay the principal and interest loan in advance.

9.2.1 In Party A, Bushiness close, dissolution, recession and license cancellation happen.

9.2.2 Party A does not provide another guarantor after the previous one fail to assure Party B’s creditor’s right.

9.2.3 Other severe nonperformance.

9.3 If Party A wants to prolong the loan term, written application and guarantor’s guarantee letter should be provided to Party B in 30 days before the expiration date of the contract. Only after Party B’s checking and approval and signing the extension agreement, the contract can be extended. Before that, this contract continues to carry out.

9.4 After this contract takes into effect, neither party can arbitrarily change or dissolve it. If changes or termination are needed, both parties should reach written agreement after consultation. Before that, this contract is still valid.

Article 10  Settlement of Dispute

 

For all the disputes and differences relevant, the parties should first try to settle them through friendly consultation, otherwise, refer it to the arbitration board.

Article 11  Other Clauses

 

None.

 

 

  

  

  

Article 12  Supplementary Provisions

 

12.1 Supplementary provisions are inseparable parts of this contract, with the same legal effect as the contract.

12.2  If the loan date or the repayment date is non-working day, the next working day should be chosen.

12.3 This contract has four copies, with Party A and Party B and relevant party holding each one, each with the same legal effete.

Party A (seal)

Legal Representative

September 14, 2009

 

 

   Party B (seal)

   Legal Representative

   September 14, 2009loanagremntzj.htm

EXHIBIT 10.7

 

 

Hangzhou Bank Limited

Loan Contract

Borrower (Party A): Zhejiang Wonder Computer Training school

Address: No.2 xiyuan wu road, xihu kejiyuan, Hangzhou city

Legal representative: Xie Chungui

Tel: 81958344

Lender (Party B): Hangzhou Bank Limited

Address:

Legal representative:

Tel:              Postcode:

After careful investigation, Party B accepts Party A’s loan application and agrees to extend a loan. In accordance with Contract Law of People's Republic of China, Guaranty Law of People's Republic of China and Property Law of People's Republic of China, Party A and Party B agree to sign this contract to make clear both parties’ respective rights and obligations.

Article 1—The type of loan: refer to Article XX (1)

Article 2—Loan currency and loan amount: refer to Article XX (2)

Article 3—Loan use: refer to Article XX (3)

Article 4— Loan term: refer to Article XX (4)

Before the deadline of repayment, Party A should leave enough money in bank account for Party B to recall the loan.

 

 

 

  

  

  

 

 

The actual beginning day and ending day depends on the loan receipt, which is part of the contract and with the same legal effect.

Article 5—Loan interest rate: refer to Article XX (5)

Article 6—If Party A pays back the loan in advance, Party B has the right to get the loan interest according the loan interest rate in this contract and the actual loan term.

Article 7—If Party A wants to prolong the loan term for some reason, Party A should make an application and sigh defer payment written contract with Party B before the deadline of loan repayment.

Article 8—The loan and relative debt include the principal loan, loan interest, default interest, penalty, compensation and all other fees used to realize creditor’s rights.

Article 9—If the loan in this contract needs a guarantee, he should be recognized and sigh guaranty contract with the bank, which has the same legal effect with this contract.

Article 10—Transfer Money and Deduct Money

	
(1)  

	
Party A authorizes Party B to transfer the loan into the bank account agreed in Article XX (6)

 

	
(2)  

	
If Party A doesn’t repay the loan principal and interest on schedule, Party B has the right to deduct Party B’s equivalent amount money in other banks to compensate, without need to inform Party A in advance.

 

 

 

  

  

  

 

 

Article 11—Overdue and Appropriation

 

	(1)  	

If Party A does not use the loan in the right way that both parities agreed, Party B will impose appropriated loan interest, which is 200% f the agreed interest rate.

	 	 
	(2)  	

If Party A does not use the loan in the right way that both parities agreed, Party B will impose appropriated loan interest, which is 200% f the agreed interest rate.

	 	 
	(3)  	

If Party A does not pay the loan on time and does not use the loan in the right way, Party B will impose appropriated loan interest.

	 	 
	(4)  	

If Party A does not pay the interest on time, Party B will impose compound interest to the overdue interest.

	 	 
	(5)  	

If there is interest rate adjustment, overdue loan interest and appropriated loan interest will adjust accordingly.

	 	 
	(6)  	If Party B informs the loan becomes due in advance, Party A should pay the default interest from the day of Party B’s information.

Article 12—Breach of the contract and Bank’s measures

 

Breach of the contract and Bank’s measures

 

If anything happens such as following, Party A is regarded to violate the contract.

 

	(1)  	Party A conceal the truth of financial condition, with bad state of operation
	 	 
	(2)  	
Party A provides false information and has fraudulent conduct in the loan application process.

	 	 
	(3)  	Party A does not use the loan in the right way both parties agreed in the contract.
	 	 
	(4)  	
Without Party B’s approval, Party A carry out any kind of such enterprise transformations as spin-offs, merger, combination, joint venture with foreigners, contract operation, restructuring, transfer to paid-in capital, planning to listing and so on.

	 	 
	(5)  	
Party A changes its business registration contents, such as company name, legal representative, address, business scope, registered capital, shareholders structure, without noticing Party B in seven days after the change.

	 	 
	(6)  	Party A evades taxes; Party A’s license is revoked.
	 	 
	(7)  	Party A terminates its operation, dismiss the company or bankrupts.
	 	 
	 (8)  	
Party A signs another contract with others that endangers Party B’s interests.

 

 

 

 

  

  

  

 

 

	(9)  	
Party A’s legal representative is involved in significant lawsuit, arbitration and other criminal cases.

	 	 
	(10)  	
Party A does not repay the loan principal and the interest on time as scheduled.

	 	 
	(11)  	
Party A had other debts in other financial institutions

	 	 
	(12)  	
Party A violates other contracts signed by Party A with Party B or Party B’s other institutions.

	 	 
	(13)  	
Warrantor violates guaranty contract or other contracts signed by warrantor with Party B or Party B’s other institutions.

	 	 
	(14)  	
Party A has bad credit records in People’s Bank of China or China Banking Regulatory Commission.

	 	 
	(15)  	
Party A can not provide new approved warrantor if risk rises from the previous warrantor.

	 	 
	(16)  	
There happen other things that would have adverse effect on Party A or warrantor’s debt paying ability.

	 	 
	 	 
	
If the above things happen, Party B has the right to take the following measures.

	 	 
	(1)  	
Party B asks Party A and its warrantor to correct the violation within a definite time.

	 	 
	(2)  	
Party B terminates a part of or the entire loan that has not been provided.

	 	 
	(3)  	
Party B will recall the granted loan in advance; ask Party A to pay off the debts in time.

	 	 
	(4)  	
Without prior notification, Party B can acquire Party A’s equivalent amount money in other banks to pay the debt.

	 	 
	(5)  	
Party B asks warrantor to take the responsibility of warranty.

	 	 
	(6)  	
Party B can take other necessary measures to recall the loan.

 

Article 13—Party B has the right to supervise Party A’s financial condition, and Party A has the responsibility to provide the relevant materials. Party B should keep secret the debts, finance, operation of Party A.

Article 14—Party B should collect the interest according to this contract, or be responsible for the violation if it causes adverse effect on Party A.

 

 

 

  

  

  

 

 

Article 15—Loan should be granted on such conditions as following:

 

	(1)  	This contract becomes effective.
	 	 
	(2)  	Warranty contract comes into force.
	 	 
	(3)  	There is not any violation thing in the Article XII.
	 	 
	(4)  	
Other conditions regulated in Law or agreed by both parities.

	 	 
	
Party B should grant the loan in 10 working days after the above conditions effective.

 

Article 16—Dispute Settlement

 

For all the disputes and differences relevant, the parties can try to settle them through friendly consultation or take a legal action in court of Party B’s region.

Article 17—Effectiveness and Termination

 

This agreement shall become effective as of the date when it is signed by both parties and invalid when Party A pays off its debts.

Article 18—Duplicates

 

This contract shall be served in more than 3 copies, with parties, warrantor, and public notary office holding each one, each with the same legal effect.

Article 19—Other agreement

 

	(1)  	 Without Party B’s written approval, Party A can not transfer the rights and obligations to the third party.
	 	 
	(2)  	If the loan is conducted by Party B’s other institution on a commission basis for business necessity, Party A should agree it.
	 	 
	(3)  	
If both parties’ contact information changes, both parties should inform each other.

	 	 
	(4)  	Refer to Article XX (7)

 

 

 

  

  

  

 

 

Article 20— The explanation to the relevant articles in the contract

 

	(1)  	The explanation to Article 1
	 	 
	 	The type of loan: circulating fund loan
	 	 
	(2)  	The explanation to Article 2
	 	 
	 	Loan currency: China Yuan
	 	 
	 	Loan amount: CNY 3 million
	 	 
	(3)  	The explanation to Article 3
	 	 
	 	Loan use: working capital turnover
	 	 
	(4)  	The explanation to Article 4
	 	 
	 	Loan term: From September 3, 2009 to September 2, 2010.
	 	 
	 	Payment method: Pay off the matured principal amount of the loan at one time; interest is to be paid quarterly on 20th of the ending month of each quarter.
	 	 
	(5)  	The explanation to Article 5
	 	 
	 	The loan interest rate: The loan goes with a fixed rate in the loan term, with monthly interest rate of 4.105 ‰.
	 	 
	(6)  	The explanation to Article 10
	 	 
	 	Party A authorizes Party B to transfer the loan into: Account name: Zhejiang Wonder Computer Training School; Account number: 78918100059154.
	 	 
	(7)  	The explanation to Article 19
	 	 
	 	None

 

 

 

	Party A (seal)  	Legal representative (signature): Xie Chungui	 
	
 

	 	 	
 

	 
	
Party B (seal)

	Legal representative (signature)	 
	 	 	 
	 	 	 
	 	 	
September 3, 2009

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