EX-10.19 27 tv502689_ex10-19.htm EXHIBIT 10.19

Exhibit 10.19

 

Chongqing Puluosi Microfinance Co. Ltd.

Loan Contract

 

(Contract No. :  [●])

 

Loaner: Chongqing Puluosi Microfinance Co. Ltd.

Address: 19 Yinglong Avenue, Longxin Town, Yubei District, Chongqing City.

 

Borrower: Chongqing Penglin Food Co. Ltd.

Address: 128 Xinyuan Road, Zhenxi Town, Beiling District, Chongqing City.

 

  I. Loan:

 

1.Type: Liquid capital loan

 

2.Purpose: purchase raw materials

 

3.Currency: RMB.

 

4.Amount: ¥10,000,000

 

5.Term: short term

 

6.Period: 6 months, from November 13, 2017 to May 12, 2018.

 

7.Withdrawal period: March 24, 2017 to March 24, 2018; first withdrawal should be before March 24, 2017

  

  II. Loan interest rate, interest calculation and interest settlement:

 

  1. Loan interest rate is calculated pursuant to

 

Fixed rate: Loan interest rate is fixed at an annual rate of 12%.

 

  2. Loan Interest Rate shall be settled monthly on the 20th day of each month. The corresponding day of actual withdrawal date of each month is the interest payment date.

 

  3. If Borrower does not repay the loan on time, Borrower is deemed to be at default, and is subject to penalty interest, liquidated damages, and compound interest. Penalty interest is the loan interest plus 50bp.

 

  4. If the loan is used in violation of the purpose of this agreement, the penalty interest will be increased 50bp of the loan interest under this contract.

 

  III. Guarantee:

 

  1. The guarantee type for performance of this contract is guarantee and pledge.

 

Name of Guarantor and Pledge   Contract No.   Guarantee Type
Mingwen Wang        Guarantee
Zeshu Dai        Guarantee
Guangan Yongpeng Food Co. Ltd.        Pledge

 

  IV. Repayment of Loan Principal

 

  1. Borrower shall repay all the loan under this contract (RMB 10,000,000) no later than May 12, 2018.

 

  2. Borrower shall pay as liquidated damage the penalty interest as described above.

 

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  VII. Miscellaneous:

 

  1. Any disputes arising from the performance of the contract shall be submitted to the court located in the place where Loaner resides.

 

  2. This contract comes into effect upon execution by legal representative of each party and stamped by both parties.

 

 

Loaner: /s/Chongqing Puluosi Microfinance Co. Ltd.

 

Borrower: /s/Chongqing Penglin Food Co. Ltd.

 

Execution date: November 13, 2017

 

 

 

 

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