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Exhibit 10.14
LOAN AGREEMENT
THIS AGREEMENT is made on
BETWEEN
| (1) | TONGHUAI SG ENTERPRISE PTE. LTD. with its registered address at 59 Mohamed Sultan Road #01-10 Sultan Link Singapore 238999 (“Lender”); and |
| (2) | PHAOS TECHNOLOGY PTE. LTD. with its registered address at 83 Science Park Drive, The Curie, #02-01 Singapore 118258 (“Borrower”). |
RECITALS
The Lender has agreed to lend to the Borrower an amount of on the terms set out below.
IT IS AGREED as follows:
INTEREST AND REPAYMENT
The loan interest rate:
The Borrower shall repay the loan amount upon a written demand (in whole or in part as specified in the demand) by the Lender.
The Borrower may at any time repay to the Lender the entire or any part of the outstanding principal amount of the loan.
ASSIGNMENT
Each of parties shall not be entitled, without prior written consent of the other party, to assign all or any of its right under this Agreement
VARIATION
A variation of this Agreement is valid only if It is in writing and signed by or on behalf of each party.
COUNTERPARTS
This Agreement may be executed in any number of counterparts each of which when executed and delivered an original, but all counterparts together constitute the same document.
LOAN AGREEMENT
GOVERNMENT LAW
This Agreement shall be governed by, and construed in accordance with Singapore Law
IN WITNESS whereof the parties hereto have executed and delivered this document as a Deed on the date first written above.
| EXECUTED and DELIVERED by | EXECUTED and DELIVERED by | |
| /s/ Benson Beh | /s/ Benson Beh | |
| Lender | Borrower | |
| Benson Beh | BENSON BEH | |
| (Director of TONGHUAI SG ENTERPRISE PTE LTD) | (Director of PHAOS TECHNOLOGY PTE LTD) |
| Dated: | Dated: |
| /s/ Andrew Yeo | |
| Borrower | |
| ANDREW YEO | |
| (Director of PHAOS TECHNOLOGY PTE LTD) |
| Dated: |
| /s/ Taybeng Boon | |
| Borrower | |
| TAY BENG BOON | |
| (Director of PHAOS TECHNOLOGY PTE LTD) |
| Dated: |