Fengsheng Financing Arrangements – Fengsheng Finance Cooperation Agreement Sample Clauses

Fengsheng Financing Arrangements – Fengsheng Finance Cooperation Agreement. Genius AFC and Fengsheng Sales entered into the Fengsheng Finance Cooperation Agreement, pursuant to which Genius AFC will provide vehicle financing services to the Fengsheng Retail Customers to assist them to purchase Maple-Branded Vehicles. Under the terms of the Fengsheng Finance Cooperation Agreement, Genius AFC will enter into the Fengsheng Retail Loan Cooperation Agreement with the Fengsheng Dealers, pursuant to which such dealers shall recommend their retail customers to use Genius AFC for the obtaining of vehicle loans to finance their purchase of Maple-Branded Vehicles. After the commencement of the Fengsheng Retail Financing Business, Genius AFC will enter into individual Fengsheng Retail Loan Agreements with the Fengsheng Retail Customers. The Fengsheng Financing Annual Caps for the Fengsheng Retail Financing Business for the three years ending 31 December 2023 are approximately RMB72.3 million, RMB120.5 million and RMB241.0 million, respectively.
Sample 1
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Fengsheng Financing Arrangements – Fengsheng Finance Cooperation Agreement. On 4 November 2020 (after trading hours), Genius AFC and Fengsheng Sales entered into the Fengsheng Finance Cooperation Agreement pursuant to which Genius AFC will provide vehicle financing services to the Fengsheng Retail Customers for their purchase of Maple-Branded Vehicles from the Fengsheng Dealers. Details of the Fengsheng Finance Cooperation Agreement are set out below: Date 4 November 2020 (after trading hours) Parties Genius AFC and Fengsheng Sales Please refer to the paragraph headed (D) Automobile Financing Arrangements (i) XXXX & CO Financing Arrangements – XXXX & CO Finance Cooperation Agreement – Parties” for further details regarding Genius AFC. As at the date of this announcement, Xxxxxxxxx Xxxxx is ultimately wholly owned by Xxxxxxxxx. Fengsheng is owned as to 78% by Geely Technology and 22% by Kandi Vehicles while Geely Technology is beneficially wholly owned by Xx. Xx and his associate. Fengsheng Sales is principally engaged in the sale of Maple-Branded Vehicles and the wholesale and retail businesses of related parts and components. Subject matter The Fengsheng Finance Cooperation Agreement sets out the terms under which Genius AFC will provide vehicle financing services to the Fengsheng Retail Customers to assist them to buy Maple-Branded Vehicles from the Fengsheng Dealers.
Sample 1

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