Document:

fs1a10510ex10ix_chinabct.htm

 

Exhibit 10.9

Loan agreement and pledge agreement

This bank loan agreement and pledge agreement were made among the following parties on 19 December 2008.

	
(A)  

	
  Borrower : Guangxi Liuzhou Baicaotang

	
(B)  

	
  Lender/ Mortgagee : Liuzhou City Commercial Bank

	
(C)  

	
  Mortgagor : Baicaotang Property Development Limited

Whereas:

	
  

	
The parties are desirous to enter into this agreement and agree as follows:-

 

	
(1)  

	
The purpose of loan is for working capital

 

	
(2)  

	
The loan amount is equivalent of RMB5,000,000 and the term of loan is 12 months from December 19, 2008 to December 19, 2009 which is the due date of principle loan;

	
(3)  

	
Interest was monthly charged at 0.6975% and subject to the change in accordance with the benchmark rates announced by People of Bank of China without notice, and is monthly accrued and to be settled monthly on 20 th of each month .

	
(4)  

	
Rights and obligation

Borrower :

	
  

	
i

	
Proper use of loan in accordance with the terms set as therein

	
  

	
ii

	
Providing the true and complete financial report and relevant information, and assist the investigation of the borrower’s business and financial activities in connection with the use of fund.

	
  

	
iv

	
Repayment in accordance with the terms as set out therein and may extend the terms of loan by written notice before due date by 15 days upon the consent of lender.

	
  

	
Lender:

	
  

	
i

	
Have the right to request Party A to repay the said loan at any time when the occurrence of any incidence detrimental to the possibility of repayment; increase the items of pledge should the diminution of the value of the subject under pledge occur;

	
  

	
ii

	
Have the rights to request Party B to obtain the information inclusive of the financial figures, inventory and the use of fund in connection to the loan .

	
  

	
iii

	
Advance the loan to Party B at the time in accordance with the terms as set out in above

 

	
(5)  

	
When the borrower fail to repay in accordance with the prescribed period herewith the terms as set out above, penalty charge will be imposed at a rate of 150% of the aforesaid interest rate of this contract till the repayment of principal and interest in arrears and will adjust at the date of the change of the benchmark rates announced by People of Bank of China. When the borrower fail to use the fund properly,  penalty of 200% of the aforesaid interest rate will be imposed on the part in breach of the use of fund.

 

 

  

1

  

 

	
(6)  

	
Security of this loan agreement is in the form of the pledge and the mortgagees agree to pledge by means of property as follows. The pledge covers the principle of loan, interest, surcharge, compensation, litigation in connection with the enforcement of debts.

	
(7)  

	
Value of asset under pledge : RMB 11,014,800

	
(8)  

	
Asset under pledge : 2/F Block 5, Baiocao Garden No 102 Chengzhan Road, Liuzhou City

 

Borrower: Guangxi Liuzhou Baicaotang

Legal Representative: /s/ Hui Tian Tang

Lender (Seal): Liuzhou City Commercial Bank

 

 

 

 

 

 

 

 2fs1a10510ex10x_chinabct.htm

 

Exhibit 10.10

Loan agreemnt and pledge agreement

This bank loan agreement and pledge agreement were made among the following parties on 29 December 2008.

	
(A)  

	
  Borrower : Guangxi Liuzhou Baicaotang

	
(B)  

	
  Lender/ Mortgagee : Rural Credence Cooperation of Guangxi

	
(C)  

	
  Mortgagor : Baicaotang Property Development Limited

Whereas:

	
  

	
The parties are desirous to enter into this agreement and agree as follows:-

 

	
(1)  

	
The types of loan is medium term loan

	
(2)  

	
The purpose of loan is to finance the purchase of drugs

 

	
(3)  

	
The loan amount is equivalent of RMB3,500,000 and the term of loan is 36 months from December 29, 2008 to December 29, 2011;

	
(4)  

	
Interest was charged at 130% of the benchmark rate, equivalent to annual interest rate of 7.02%.  The interest is subject to revise in accordance with the benchmark rates announced by People of Bank of China, and the change is effective at the date of change as promulgated by PBC without notice. Interest is accrued and settled on monthly basis which is 20 th of each month.

	
(5)  

	
Rights and obligation

	
  

	
Borrower :

	
  

	
i

	
Proper use of loan in accordance with the terms set as therein

	
  

	
ii

	
Providing the true and complete fiancial report and relevant information, and assist the investigation of the borrower’s business and fiancial activities in connection with the use of fund.

	
  

	
iv

	
Repayment in accordance with the terms as set out therein and may extend the terms of loan by written notice before due date by 30 days upon the conset of lender.

	
  

	
Lender:

	
  

	
i

	
Have the right to request Borrower to repay the said loan at any time when the occurrence of any incidence detrimental to the possibility of repayment; increase the items of pledge should the diminution of the value of the subject under pledge occur;.

	
  

	
ii

	
Have the rights to request Borrower to obtain the information inclusive of the financial figures, inventory and the use of fund in connection to the loan .

	
  

	
iii

	
Advance the loan to Borrower at the time in accordance with the terms as set out in above

 

	
(6)  

	
When the borrower fail to repay in accordance with the prescribed period  herewith the terms as set out above, penalty will be imposed at a rate of 150% of the aforesaid interest rate of this contract till the repayment of principal and interest in arrears and will adjust at the date of the change of the benchmark rates announced by People of Bank of China. When the borrow fail to use the fund properly, penalty charge of 200% of the aforesaid interest rate will be imposed on the part of fund in breach of use.

 

 

  

  

  

 

	
(7)  

	
The mortgagees agree to pledge its property for the security of loan granted to the borrower. The pledge cover the principal of loan, interest, surcharge, compensation, litigation in connection of the enforcement of debts.

	
(8)  

	
Value of asset under pledge : RMB 9,622,351

	
(9)  

	
Asset under pledge : Block 3, 1-1, 1-2, 1-3, 1-4, 1-5, 1-6, 1-7, 1-8, 2-5 Baicaoyuan,   No 102 Chengzhan Road, Liuzhou City

 

Borrower: Guangxi Liuzhou Baicaotang

Legal Representative: /s/ Hui Tian Tang

Lender (Seal): Rural Credence Cooperation of Guangxi

 

 

 

 2fs1a10510ex10xi_chinabct.htm

 

Exhibit 10.11

Loan agreement and pledge agreement

This bank loan agreement and pledge agreement were made among the following parties on 8 January 2009.

	
(A)  

	
  Borrower : Guangxi Liuzhou Baicaotang

	
(B)  

	
  Lender/ Mortgagee : Agricultural Bank of China

	
(C)  

	
  Mortgagor : Wuxuan Baicaotang Medicine Limited

                               : Baicaotang Property Development Limited

Whereas:

	
  

	
The parties are desirous to enter into this agreement and agree as follows:-

	
(1)  

	
The advance of the loan is for short term working capital purpose ;

	
(2)  

	
The fund of loan is for the purchase of drugs ;

 

	
(3)  

	
The loan amount is equivalent of RMB4,500,000 and the term of loan is 12 months from January 8, 2009 to January 8, 2010;

	
(4)  

	
Interest was charged and fixed at 110% of the benchmark rates announced by People of Bank of China equivalent to the 5.841% per annum and is monthly accrued and to be settled monthly on 20 th of each month.

	
(5)  

	
Rights and obligation

Borrower:

	
  

	
i

	
Proper use of loan in accordance with the terms set as therein

	
  

	
ii

	
Promptly report of any matters leading to the changes or affects of any obligation and rights of debts between the borrower and lenders if any by written notice

	
  

	
iii

	
Providing the true and complete financial report and relevant information, and assist the investigation of the borrower’s business and financial activities in connection with the use of fund.

	
  

	
iv

	
Repayment in accordance with the terms as set out therein and may extend the terms of loan by written notice before due date by 15 days upon the consent of lender.

	
  

	
Lender:

	
  

	
i

	
Have the right to request Party A to repay the said loan at any time when the occurrence of any incidence detrimental to the possibility of repayment.

	
  

	
ii

	
Have the rights to request Party B to obtain the information inclusive of the financial figures, inventory and the use of fund in connection to the loan .

	
  

	
iii

	
Advance the loan to Party B at the time in accordance with the terms as set out in above

 

	
(6)  

	
When the borrower fail to repay in accordance with the prescribed period herewith the terms as set out above, penalty will be imposed at a rate of 150% of the aforesaid interest rate of this contract till the repayment of principal and interest in arrears and will adjust at the date of the change of the benchmark rates announced by People of Bank of China. When the borrow fail to use the fund properly, penalty rate of 200% of the aforesaid interest rate will be imposed on the part in breach of the use of fund.

 

 

  

1

  

 

	
(7)  

	
Security of this loan agreement is in the form of the pledge and the mortgagees agree to pledge by means of property as follows. The pledge covers the principle of loan, interest, surcharge, compensation, litigation in connection with the enforcement of debts.

	
(8)  

	
Value of asset under pledge : RMB 12,402,600

	
(9)  

	
Asset under pledge : Xianmi Road, Wuxuan village, Wuxuan County 2,767.41 Square meters

 

Borrower: Guangxi Liuzhou Baicaotang

Legal Representative: /s/ Hui Tian Tang

Lender (Seal): Agricultural Bank of China

Legal Representative: /s/ Xiaohua Huang

 

 

 

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