China Internet Cafe Holdings Group, Inc. - FORM 8-K - EX-10.7 - EXHIBIT 10.7 - July 9, 2010

Attached files

file filename
8-K - FORM 8-K - China Internet Cafe Holdings Group, Inc.f8k.htm
EX-21 - EXHIBIT 21 - China Internet Cafe Holdings Group, Inc.exhibit21.htm
EX-4.1 - EXHIBIT 4.1 - China Internet Cafe Holdings Group, Inc.exhibit4-1.htm
EX-2.1 - EXHIBIT 2.1 - China Internet Cafe Holdings Group, Inc.exhibit2-1.htm
EX-10.1 - EXHIBIT 10.1 - China Internet Cafe Holdings Group, Inc.exhibit10-1.htm
EX-10.9 - EXHIBIT 10.9 - China Internet Cafe Holdings Group, Inc.exhibit10-9.htm
EX-10.6 - EXHIBIT 10.6 - China Internet Cafe Holdings Group, Inc.exhibit10-6.htm
EX-10.3 - EXHIBIT 10.3 - China Internet Cafe Holdings Group, Inc.exhibit10-3.htm
EX-10.4 - EXHIBIT 10.4 - China Internet Cafe Holdings Group, Inc.exhibit10-4.htm
EX-10.8 - EXHIBIT 10.8 - China Internet Cafe Holdings Group, Inc.exhibit10-8.htm
EX-10.5 - EXHIBIT 10.5 - China Internet Cafe Holdings Group, Inc.exhibit10-5.htm
EX-10.2 - EXHIBIT 10.2 - China Internet Cafe Holdings Group, Inc.exhibit10-2.htm
EX-10.10 - EXHIBIT 10.10 - China Internet Cafe Holdings Group, Inc.exhibit10-10.htm
EX-10.11 - EXHIBIT 10.11 - China Internet Cafe Holdings Group, Inc.exhibit10-11.htm

Exhibit 10.7

English Summary of Small Enterprise Small Amount Credit Loan Contract without Mortgage Entered into by and between Shenzhen Junlong Culture Communication Co., Ltd. ("the Company") and Shenzhen Branch, Construction Bank of China ("the Creditor") dated October 23, 2009

Main contents

  • Contract number: ECheng 0572009727;

  • The Creditor will provide to the Company a credit with maximum amount of RMB 1 million for the period from October 26, 2009 to October 25, 2010;

  • Interest rate of loan: for short term loan (less than one year), the rate is 20% above benchmark rate published by the People’s Bank. The interest shall be settled on a monthly basis.

  • The Company shall pay RMB 40,000 as credit warranty fee to the Creditor before receiving the loan from the Creditor.

  • The Creditor’s approval shall be obtained in case of material change of the Company, including transfer of the significant assets, lease out, reform as a company limited by shares, joint operation, combination, merger, division, joint venture, equity transfer, and any other activities which shall affect the realization of the Creditor’s rights hereunder.

  • Breach of contract penalty: adjustment of credit, cancellation of unused credit, imposition of punitive interest, demand prepayment of loan and other measures;

Summary of the articles omitted

  • Use of credit

  • Repayment

  • Rights and obligations of Company

  • Rights and obligations of Creditor

  • Breach Liability and Remedies

  • Suspension of Credit

  • Miscellaneous

  • Dispute Settlement

  • Conditions of Effectiveness

  • Acknowledgement

China Internet Cafe Holdings Group, Inc. Reports