New Asia Partners China CORP Watch

from S-1/A 4 pages In Connection With Payor’s Initial Public Offering of Securities of Capital Ten Acquisition Corp. (“Payor”) and in Order to Cover Certain Expenses Related Thereto, Capital Ten Partners, LLC (“Payee”) Hereby Establishes This Irrevocable Letter of Credit (The “Letter of Credit”) in Favor of Payee. Payor Acknowledges That an Aggregate of $106,571 Has Been Advanced by Payee to Payor as of the Date Hereof and Such Advance Shall Constitute a Demand for Payment and a Reduction of the Stated Amount (As Defined Below) Under This Letter of Credit. This Letter of Credit Is for the Benefit of Payor, All in Accordance With the Following Terms and Conditions: 1. Expiration. This Letter of Credit Automatically Shall Expire at the Close of Business on the Earliest to Occur of the Following Dates (The “Termination Date”): A. October 29, 2008; and B. the Date on Which Payor Consummates an Initial Public Offering of Its Securities Under the Securities Act of 1933, as Amended. if Such Termination Date Is Not a Business Day (As Hereinafter Defined), Then This Letter of Credit Shall Expire on the Next Succeeding Business Day. 2. Stated Amount. the Maximum Aggregate Amount Available Under This Letter of Credit Shall Be $250,000, Which Amount May Be Reduced From Time to Time as Provided in Paragraph 3, and Is Hereinafter Referred to as the “Stated Amount.”