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SHORT TERM LOAN AGREEMENT
NO.____________________________
THIS AGREEMENT is made on 22nd February 2021 by and between:
NAXIS CO., LTD., a going concern established on January 26, 1965, in accordance with the laws of Japan, with its registered office at 491 Nakatsukasacho, Kamigyo-ku, Kyoto, Japan.(the “Lender”)
AND
BANGLADESH NAXIS CO., LTD., a company incorporated in Bangladesh with a registered address at Jaigir, Dollah Bazaar, Singair, Manikganj, PO: 1820, Bangladesh (the “Borrower”)
WHEREAS:
1. The Lender shall make a loan to the borrower amounting to USD700,000(“the Loan”)at the date of the agreement which is unsecured with no interest pay. All the bank charge and handling fee will be borne by the Lender.
2. The Borrower will pay back the BDT amount which they receive through Prime Bank Limited Bangladesh by converting from USD to BDT on the date of receiving money.
3. The Borrower shall pay the loan amount on BDT to the Lender within 28th February 2022.
4. The duration of the Agreement thereafter can automatically be extended for one more year by the mutual agreement of both party and on that case, there should be no preliminary written objection either from the Lender or the Borrower.
DURATION OF AGREEMENT
The agreement shall commence with effect from 1st March 2021 to 28th February 2022(One Year Short-Term Loan on which date the Borrower shall pay back the total loan amount (BDT amount which the Borrower will receive by converting from USD) to the Lender.
SIGNED BY
Duly authorized for and on behalf of
NAXIS CO., LTD.,
__________________________________
Duly authorized for and on behalf of
BANGLADESH NAXIS CO., LTD.,
__________________________________