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Common use of Fixed Interest Rate Clause in Contracts

Fixed Interest Rate. The loan interest rate floats upward/downward by / % to stand at _/__% per annum. The benchmark interest rate for loans with a term of five years or less is the benchmark RMB interest rate for the same term announced by the People’s Bank of China, while that for loans with a term of more than five years is the above interest rate plus _/__ (in words) percentage point(s). The interest rate of loans in foreign currency shall be determined as per Method __/___ below: (1) The interest rate of the loan, which consists of __/__-month _/__ (LIBOR/HIBOR) + _/__ % interest margin shall equal to the floating interest rate for loan with a term of __/__ months. LIBOR/HIBOR is the interbank offered rate of London/Hong Kong announced by Reuters for the corresponding term two working days prior to the interest bearing date. (2) An annual interest rate of __/___ % shall apply till the loan expiration date.

Appears in 4 contracts

Samples: Loan Contract (China Shenghuo Pharmaceutical Holdings Inc), Loan Contract (China Shenghuo Pharmaceutical Holdings Inc), Loan Contract (China Shenghuo Pharmaceutical Holdings Inc)

Fixed Interest Rate. The loan interest rate floats upward/downward by / % to stand at _/__% __% per annum. The benchmark interest rate for loans with a term of five years or less is the benchmark RMB interest rate for the same term announced by the People’s Bank of China, while that for loans with a term of more than five years is the above interest rate plus _/__ (in words) percentage point(s). The interest rate of loans in foreign currency exchange shall be determined as per Method __/___ below: (1) The Floating loan interest rate of the loan, which consists for a term of __/__-month _/__ months shall be _____-month _________________ (LIBOR/HIBOR) + _/__ % interest margin shall equal to the floating interest rate for loan with a term of __/__ monthsmargin. LIBOR/HIBOR is the interbank offered rate of London/Hong Kong announced by Reuters for the corresponding term two working days prior to the interest bearing date. (2) An annual interest rate of __/___ % shall apply till the loan expiration date.

Appears in 1 contract

Samples: Loan Agreement (China Shenghuo Pharmaceutical Holdings Inc)