August 2024. Effective as of August 1, 2024, the Basic Annual Rent shall be increased to be equal to the change in the All Urban Index (as defined in Section 3.1 of the Original Lease) from August 1, 2021, through August 1, 2024, provided that in any event such increase shall not be less than 2% per year, compounding, over such period (i.e., in no event shall the Basic Annual Rent be less than 106.12% of the prior Basic Annual Rent), nor greater than 3% per year, compounding, over such period (i.e., in no event shall the Basic Annual Rent be greater than 109.27% of the prior Basic Annual Rent).
August 2024. Parties: (1) Xintong Wind Power (as a lessee) (2) State Grid Leasing (as a lessor) Scope of services: State Grid Leasing will purchase the Leased Assets owned by Xintong Wind Power at a total consideration of RMB300 million, and lease the Leased Assets back to Xintong Wind Power for lease payment.
