SEC Contract Filing

Filing Date: 2017-04-07

Document Content:
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<TYPE>EX-10.1
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<FILENAME>v463822_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Extension of Loan Agreement</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Lender</B>:
Merit Crown Limited (a company registered in Hong Kong, company No.: 2174556).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Borrower</B>:
Hongkong Takung Assets and Equity of Artworks Exchange Co., Ltd. (a company registered in Hong Kong, company No.: 1801348).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>WHEREAS:</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1. The Lender
and the Borrower entered into an Extension of Loan Agreement dated January 4, 2017 by which they agreed (among others) to extend
the loan periods of the two loans of US$1,500,000 and US$1,999,500 respectively to March 31, 2017;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2. The Borrower
requested the Lender to further extend the loan period of the above Extension of Loan Agreement to December 31, 2017.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">After full negotiations,
and in accordance with Article 2 of the above Extension of Loan Agreement in relation to extension of loan period, the parties
have agreed as below:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 1. The
loan periods for the US$1,500,000 and US$1,999,500 (totally US$3,499,500) borrowed by the Borrower from the Lender under the above
Extension of Loan Agreement respectively shall be extended to December 31, 2017 (hereinafter the &ldquo;New Loan Period&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 2. The
Borrower shall pay a total amount of US$213,080.67 (being the interest of the above two loan amounts calculated based on annual
interest rate of 8% and 360 days a year for the period from April 1, 2017 to December 31, 2017) in lump sum to the Lender by April
10, 2017. Upon expiry of the New Loan Period, the Borrower shall repay the principal amount of US$3,499,500 in lump sum to the
Lender. The parties can agree in advance to shorten or extend the New Loan Period.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 3. This
Agreement has two original copies, each of the Lender and the Borrower will keep one original copy, which shall have equal legal
effect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 4. This
Agreement shall take effect from April 4, 2017. The above-mentioned Extension of Loan Agreement shall cease to be effective automatically
from the effective date of this Agreement.</P>

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 <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lender:</P>
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 <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: April 4, 2017</P></TD>
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 <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Borrower:</P>
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 <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: April 4, 2017</P></TD></TR>
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