Borrower: Kadant Light Machinery (Jining) Co., Ltd.
Enterprise Legal Person Business License No.: Qi Du Lu Ning Zong Zi No. 001159
Legal Representative: Peter J. Flynn
Address: No.99 Jidian Road 1, High and New Technologies Industry Development
Zone, Shandong 272023, China
Financial Institution and Account No.: Bank of China, Limited Jining Branch, 405801738088091001
- hereinafter referred to as "Borrower"
Lender: Bank of China Limited, Jining Branch
Legal Representative/Person-in-charge: Pang Xinfeng
Address: No. 99, Guanghe Road, Jining, Shandong China
- hereinafter referred to as "Lender"
Borrower and Lender may be hereinafter collectively referred to as the "Parties" or, individually as a "Party".
Whereas, the Parties have entered into the (Middle/Long-Term) RMB Loan Agreement (No.: 2006Year Ji
Zhong Yin Si Jie Zi KD0001 Hao) ("Loan Agreement") on June 6, 2006.
Whereas, the Parties have agreed on June 8, 2006 with respect to certain details of the performance of the Loan
Accordingly, the Parties have decided to execute this Supplementary Agreement on June 8, 2006 as the
supplementary agreement to Loan Agreement signed on June 6, 2006. The terms and conditions of the
Supplementary Agreement are as follow:
1. According to Article 2 of the Loan Agreement, the Parties agree that Article 2 shall be amended as the
Article 2 Term
The term of the Loan shall be 45 months and 22 days commencing from the drawdown
date as agreed upon by both parties hereto and ending on the last repayment date as agreed upon by both parties
hereto. If it is agreed that the Loan shall be drawn within a specific period of time, then the "drawdown date" in
the above sentence shall refer to the date on which such period shall commence.
Despite of this agreed term, the loan will be due one month prior to the expiry of the standby L/C stated in Article