Tugas Membuat Loan Agreement

NAME : NANDIKA AGUNG PUTRA BATARA

NUMBER  : 06

LOAN AGREEMENT

This Loan Agreement (this “Agreement”) is made effective as of 11, October 2015, (the “Effective Date”), between :

United Overseas Bank, Co.Ltd (“Lender”) a corporation duly organized and existing under the laws of Singapore,  PT Nandika Group (“Borrower”) a corporation duly organized engaged in oil palm plantations and existing under the laws of Indonesia, and PT Nona Group (“Guarantor”).

Whereas,

   A.    The Borrower proposes to borrow from the Bank, and the Bank proposes to

lend to the Borrower and aggregate amount of $ 1.000.000 (one milion dollars).

   B.     The Borrower intends to use the loan to open up new land and for expand the business.

   C.     Both Lenders and Borrowers believe this loan agreement implemented in good faith for the sake of the ongoing interests of the parties.

Now, Therefore, the parties agree as follows:

Article 1

DEFINITIONS

In this Agreement :

1.1  “Banking Day” means a day that is a Singapore Banking Day.

1.2  “Business Day” means a day other than a Saturday, Sunday or Public Holiday

 and on which banks are open for business in Singapore.

1.3  “Debt” means the Amount Of Loans Which Have Not Been Repaid.

1.4  “Dollars” or “$” means lawful money of the United States.

1.5  “Effective Date” means the date on which This Agreement is Duly Executed By the Parties   hereto.

1.6  “Guarantee” has the meaning ascribed thereto in Article 9 below.

1.7  “Loan” has the meaning ascribed thereto in Article 2.1 below.

1.8  “Parties” means both the Lender (Bank), the Borrower and the Guarantor.

1.9  “Repayment” has the meaning as provided in Article 4 below.

Article 2

COMMITMENT

2.1 The Bank agrees to lend to the Borrower, an aggregate amount of $ 1.000.000 (one milion dollars).

2.2 The Borrower must be willing to accept a Loan from a bank an aggregate amount of $ 1.000.000 (one million dollars).

Article 3

INTEREST

The Borrower must pay an interest of 10% of the Loan amount.

Article 4

REPAYMENT

The Borrower must Repay the Loan with interest to the Bank, no later than October 11, 2016.

Article 5

EFFECTIVE DATE

This agreement comes into force and binding on the parties on 11 october 2015 and on that date the Lenders are required to provide Loan funds to Borrower.

Article 6

CONDITIONS PRECEDENT

The obligation of the Bank to give the Loan to the Borrower is subject to the condition that the Bank receives no later than 11 October 2015 three executed copies of each of document listed below :

a. A promissory note duly executed and delivered by the Borrower

b. An opinion of counsel to the Borrower

c. Schedule of liens and other encumbrances on property of the Borrower.

Article 7

REPRESENTATIONS

The Borrower hereby represents that :

a. To the best knowledge of the Borrower on the date of this agreement there are no actions, proceeding or claims which might have a materially adverse effect on the financial conditions of the Borrower or impair its ability to perform its obligations under this agreement

b. The Borrower is a company duly organized and validly existing under the law of the indonesia and has the power and authority to own its property, to conduct its business us currently conducted and to consummate the transactions contemplated in this agreement

c. The Borrower has taken all necessary action to authorize the execution of this agreement

d. No default , event of default or default any agreement has occured and is continuing, and no such event will occur upon the making of the Loan

e. The Borrower has good title to its property free and clear of all liens and other encumbrances

Article 8

COVENANTS

a. The Borrower shall enable representatives of the Bank to examine its property and records any reasonable times

b. The Borrower shall promptly give notice to the Bank of each default or event of default that has or might have a materially adverse effect on its ability to perform its obligations under this agreement or the promissory note

c. The Borrower shall not create or permit to be created any lien on its properties listed to secure its indebtedness

Article 9

THE GUARANTY

a. The guarantor Guarantees the collection of all debt, obligations and liabilitys payable by the borrower under this agreement and the promissory notes, strictly in accordance with the provisions of this agreement and the promissory notes

b. The guaranty is limited and conditional, a guarantiy of collections only. the guarantor shall be obligated to make payments hereunder only after the bank has reduced its claims against the borrower to judgment and the execution has been returned unsatisfied, or after the borrower has become insolvent,  or after it has become apparent that the bank cannot proceed against the borrower

c. The combined liability of the guarantor with respect to the borrower's indebtedness under this guaranty shall not exceed the sum of $500.000 (Five hundred thousand dollars).

Article 10

EVENT OF DEFAULT

10.1 Event of Defaults

if one or more of the following events of default occurs and is continuing the bank shall be entitled to the remidies set forth in article 10.2.

a. Any amount payable by the borrower in this agreement is not paid as and when it becomes payable

b. The borrower fails to perform or observe any covenant in this agreement and does not remedy the failure on or before the ninety day after it occurs

c. Any representations or warranty of the borrower in this agreement proves to have been incorrect, incomplete or misleading at the time it was made

d. If default shall be made in the performance or observance of, or shall occur under, any covenant, agreement, or other provision of this Agreement or in any instrument or document delivered to the Lender in connection with or pursuant to this Agreement, or if any such instrument or document shall terminate or become void or unenforceable without the written consent of the Lender;

10.2 Remedies

a. If any event default occurs and is continuing, the bank by notice to the borrower :

i) declares the obligations of the bank hereunder to be terminated, and

ii) declares its right to accelerate the borrower's repayment of all amounts hereunder

10.3 Right not exclusive

The right provided herein are cumulate and are not exclusive of any other right , privileges or remedies provided by laws.

Article 11

CHOICE OF LAW

a. The substantive laws of the republic of indonesia govern all matters arising out of or relating to this agreement.

b. This agreement is constituted and interpreted in accordance with the substantive laws of the republic of indonesia

Article 12

NOTICE

If you fail to pay the full amount of the total because of the above to the lender within ten days of the date of this notice is sent, you may be charged immediately process :

a. Termination of the agreement along with a fine of up to 25% of the total loan amount.

b. Making assets or property assets pledged.

All notices, requests, demands, or other communications provided for herein shall be in writing and shall be deemed to have been given when sent by registered or certified mail, return receipt requested, addressed to the parties, at the addresses set forth above, or to such other address as either party shall designate to the other from time to time in writing forwarded in like manner.

Executed as of the date stated on the first page of this agreement.

PT Nandika Group, as Borrower.                                           PT Nona Group, as Guarantor.

By : Putra Batara                                                                    By : Indira Septiani

Title : Chief Executive Officer                                               Title : Chief Executive Officer

                                                                                               

United Overseas Bank, Co.Ltd as Lender.

By : Tan Chei Wang

Title : Board of Directors