Common use of Interest Rate and Interest Clause in Contracts

Interest Rate and Interest. 1.1 Where the loan currency is a foreign currency and priced on a term interest rate or floating overnight interest rate basis, the applicable pricing benchmark on the Interest Rate Determination Date (T day, or the latest workday prior to the Interest Rate Determination Date in the event that it is not a workday) shall be the interest rate value for the T-N workdays corresponding to the pricing benchmark agreed upon herein as displayed on the page of the terminal of Refinitiv or Bloomberg Financial Telecommunications. In case the pricing benchmark on interest rate is negative, it shall be executed at zero. The aforesaid workdays are the local business days of the loan currency pricing benchmark administrators. For applicable term interest rates, the value of N is 2; for applicable floating overnight interest rates, the value of N is 5. Lest there be any doubt that the SOFR term rate agreed upon herein refers to the SOFR term rate issued by the Chicago Mercantile Exchange (CME) as determined by the Alternative Reference Rate Committee (ARRC); the XXXXX term rate agreed upon herein refers to the XXXXX term rate issued by Refinitiv. Any significant change in the pricing benchmark shall be handled based on the market rules in force at the time. Should the Lender then request the Borrower to sign a supplementary agreement on the relevant matters, the Borrower shall cooperate. 1.2 In case the loan interest rate hereunder adopts a floating rate, the rules of interest rate adjustment shall still be implemented in the original method upon the overdue loan. 1.3 For monthly interest settlement, the settlement date shall be the 20th day of each month; for quarterly interest settlement, the settlement date shall be the 20th day of the last month of each quarter; and for semi-annual interest settlement, the settlement date shall be June 20 and December 20 of each year. 1.4 The first interest period is from the date of the Borrower’s actual withdrawal to the first interest settlement date; the last interest accruing period is from the day following the end of the previous interest accruing period to the final repayment date; and the rest of the interest accruing period is from the day following the end of the previous interest accruing period to the next interest settlement date. 1.5 Loan interest = loan principal x daily interest rate x actual days of use. Where the interest rate is determined by Method (3) set forth in Article 3.2 of Part I of this Contract, and the interest on the loan shall be calculated by the combination of simple and compound interest, the interest accrual rule shall be as follows: for the portion calculated on a pricing benchmark, such portion of interest for each workday = (loan principal + total interest on this portion accrued as of the previous natural day) x the benchmark date interest rate applicable for that day; for non-working days, the interest on this portion is the same as that on the latest workday prior to that day, but if the loan principal amount changes, the interest on this portion shall be adjusted accordingly by reference to the aforementioned formula. The spread-based portion is calculated on a simple interest basis. The workdays mentioned in this Article are the local business days of the loan currency pricing benchmark administrators. For the average capital plus interest repayment method, the calculation formula for principal and interest repayable is as follows: Total principal and interest per installment = Loan principal × installment interest rate × (1 + installment interest rate) number of repayment periods (1 + installment interest rate) number of repayment periods - 1 1.6 In the event that the People’s Bank of China adjusts the loan interest rate determination method, it shall be handled in accordance with the relevant provisions of the People’s Bank of China, and the Lender shall not notify the Borrower separately. 1.7 Where the loan interest rate is executed by reducing a certain number of basis points in accordance with the Loan Prime Rate (LPR) published by the National Interbank Funding Center at the time of signing this Contract, the Lender has the right to reassess the interest rate preference granted to the Borrower annually, and to cancel the interest rate preference granted to the Borrower in full or in part at its own discretion in accordance with the national policy, credit status of the Borrower and changes in the loan guarantee, and to notify the Borrower promptly. 1.8 Unless otherwise specified, the loan interest rate herein shall be the annualized interest rate calculated by simple interest method.

Interest Rate and Interest. 1.1 Where the loan currency is a For foreign currency and priced on a term borrowing, LIBOR is the interbank interest rate or floating overnight interest rate basis, for the applicable pricing benchmark lending currency under the Contract displayed on the Interest Rate Determination Date Reuters financial telecommunications terminal “LIBO=” page two banking days (T day, or the latest workday 11: 00 am London time) prior to the Interest Rate Determination Date in the event that it is not a workday) shall be the withdrawal date or benchmark interest rate value adjustment date; HIBOR is the interbank interest rate for the T-N workdays corresponding to lending currency under the pricing benchmark agreed upon herein as Contract displayed on the Reuters financial telecommunications terminal “HIBO=” page of two banking days (11: 15 am Hong Kong time) prior to the terminal of Refinitiv withdrawal date or Bloomberg Financial Telecommunications. In case the pricing benchmark on interest rate is negative, it shall be executed at zero. The aforesaid workdays are the local business days of the loan currency pricing benchmark administrators. For applicable term interest rates, the value of N is 2; for applicable floating overnight interest rates, the value of N is 5. Lest there be any doubt that the SOFR term rate agreed upon herein refers to the SOFR term rate issued by the Chicago Mercantile Exchange (CME) as determined by the Alternative Reference Rate Committee (ARRC); the XXXXX term rate agreed upon herein refers to the XXXXX term rate issued by Refinitiv. Any significant change in the pricing benchmark shall be handled based on the market rules in force at the time. Should the Lender then request the Borrower to sign a supplementary agreement on the relevant matters, the Borrower shall cooperateadjustment date. 1.2 In case the loan Should a floating interest rate hereunder adopts a floating ratebe used for loans under the Contract, the rules of original interest rate adjustment shall still be implemented in the original method upon the used for interest on overdue loanloans. 1.3 For Should loan interest be settled on a monthly interest settlementbasis, the settlement date shall be the 20th day of each month; for quarterly should interest settlementbe settled quarterly, the settlement date shall be the 20th day of the last month of each quarter; and for should interest be settled semi-annual interest settlementannually, the settlement date shall be June 20 and or December 20 of each year. 1.4 The first interest interest-bearing period is shall be from the actual date of the Borrower’s actual withdrawal to the first interest settlement date; the last interest accruing interest-bearing period is shall be from the day following after the end of the previous interest accruing interest-bearing period to the final repayment payment date; and the rest of the interest accruing period is all other interest-bearing periods shall be from the day following date after the end of the previous interest accruing interest-bearing period to the next interest settlement date. 1.5 Loan Interest = Loan Principal × Daily Interest Rate × Actual Days of Use. Should the equal principal and interest = loan principal x daily interest rate x actual days of use. Where the interest rate is determined by Method (3) set forth in Article 3.2 of Part I of this Contract, and the interest on the loan shall repayment method be calculated by the combination of simple and compound interestadopted, the formula for calculating the principal and interest accrual rule shall be as follows: for the portion calculated on a pricing benchmark, such portion of interest for each workday = (loan principal + total interest on this portion accrued as of the previous natural day) x the benchmark date interest rate applicable for that day; for non-working days, the interest on this portion is the same as that on the latest workday prior to that day, but if the loan principal amount changes, the interest on this portion shall be adjusted accordingly by reference to the aforementioned formula. The spread-based portion is calculated on a simple interest basis. The workdays mentioned in this Article are the local business days of the loan currency pricing benchmark administrators. For the average capital plus interest repayment method, the calculation formula for principal and interest repayable is as follows: Total principal and interest per installment = Loan principal × installment interest rate × (1 + installment interest rate) number of repayment periods (1 + installment interest rate) number of repayment periods - 1: 1.6 In the event that Should the People’s Bank of China adjusts the adjust its measures for determining loan interest rate determination methodrates applicable to lending under the Contract, it shall be handled in accordance with the relevant provisions rules of the People’s Bank of ChinaChina shall be adopted, and the Lender shall not notify provide separate notice thereof to the Borrower separatelyBorrower. 1.7 Where The lending rate determined at the signing of the Contract may float downward to a certain degree from the relevant loan benchmark interest rate published by the People’s Bank of China or the loan interest prime rate is executed by reducing a certain number of basis points in accordance with the Loan Prime Rate (LPR) published by the National Interbank Funding Center at Center. The Lender is entitled to re-evaluate the time of signing this ContractBorrower’s interest rate concessions each year and determine whether to cancel, the Lender has the right to reassess in part or in full, the interest rate preference concessions granted to the Borrower annuallyBorrower, based on national policies, the Borrower’s credit standing, lending guarantee changes, and to cancel the interest rate preference granted to the Borrower in full or in part at its own discretion in accordance with the national policy, credit status of the Borrower and changes in the loan guaranteeother such circumstances, and to promptly notify the Borrower promptlyof such a cancellation. 1.8 Unless otherwise specified, the loan interest rate herein shall be the annualized interest rate calculated by simple interest method.

Interest Rate and Interest. ​ 1.1 Where the loan currency is a Borrowing currencies choose deadline for foreign currency and priced on a term interest rate or floating pricing overnight interest rates way, interest rates determine day (T, such as interest rate basis, to determine the applicable pricing benchmark on the Interest Rate Determination Date (T day, or the latest workday prior to the Interest Rate Determination Date in the event that it day is not a workdayworking day, it is before the recent working day as a day of T) shall should be applied pricing benchmark for road first, or bloomberg financial telecommunication terminal page is shown in this contract pricing benchmark corresponding T - N workdays rate value. If the interest rate value for the T-N workdays corresponding to the pricing benchmark agreed upon herein as displayed on the page of the terminal of Refinitiv or Bloomberg Financial Telecommunications. In case the pricing benchmark on interest rate is for negative, it shall be executed at press zero. The aforesaid workdays are the local business above working days of the loan currency refers to borrowing currencies pricing benchmark administratorsmanagement mechanism of local working days. For applicable Applicable term interest rates, the value of N is values for 2; Suitable for applicable floating overnight interest rates, the value of N is 5. Lest there be any doubt that ​ For the avoidance of doubt, this contract SOFR term rate agreed upon herein interest rates, refers to the SOFR term substitution rate issued board (ARRC) determined by the Chicago Mercantile Exchange mercantile exchange (CME) as determined release SOFR term interest rates; XXXXX deadline of this contract interest rate, refers to by the Alternative Reference Rate Committee road first (ARRC); the Refinitiv) released by XXXXX term rate agreed upon herein refers to the XXXXX term rate issued by Refinitivinterest rates. Any significant change in the ​ ​ If pricing benchmark shall be handled based on has greatly changed, the then effective rules and regulations of the market rules in force at shall apply. Related issues as when lenders require the time. Should the Lender then request the Borrower borrower to sign a supplementary agreement on the relevant mattersagreement, the Borrower shall borrower should cooperate. 1.2 In case the loan The interest rate hereunder adopts a floating rate, is determined by the rules of benchmark interest rate adjustment plus the floating range. The overdue interest rate shall still be implemented in determined by the original method upon the overdue loan.same manner. ​ 1.3 For monthly If the interest settlementis settled monthly, the settlement date shall be the 20th day of each month; for quarterly if the interest settlementis settled quarterly, the settlement date shall be the 20th day of the last month of each quarterthird month; and for if the interest is settled semi-annual interest settlementannually, and the settlement date shall be June 20 20th and December 20 of each year.20th. ​ 1.4 The first interest period is from the withdraw date of the Borrower’s actual withdrawal to the first interest settlement date; the last interest accruing period is from the day following the end second date of the previous interest accruing period settlement to the final repayment date; and the . The rest of the interest accruing period is periods are from the day following the end second date of the previous interest accruing period settlement to the next interest settlement date.. ​ 1.5 Loan interest = loan principal x daily ×daily interest rate x actual ×actual days of use. Where the ​ If equal principal and interest rate repayment method is determined by Method (3) set forth in Article 3.2 of Part I of this Contract, and the interest on the loan shall be calculated by the combination of simple and compound interestadopted, the calculation formula of principal and interest accrual rule shall be as follows: for the portion calculated on a pricing benchmark, such portion of interest for each workday = (loan principal + total interest on this portion accrued as of the previous natural day) x the benchmark date interest rate applicable for that day; for non-working days, the interest on this portion is the same as that on the latest workday prior to that day, but if the loan principal amount changes, the interest on this portion shall be adjusted accordingly by reference to the aforementioned formula. The spread-based portion is calculated on a simple interest basis. The workdays mentioned in this Article are the local business days of the loan currency pricing benchmark administrators. For the average capital plus interest repayment method, the calculation formula for principal and interest repayable is as follows: ​ Total principal and interest per installment of each period = Loan (financing principal × installment period interest rate × period repayment period)/ (1 + installment (period interest rate) number of repayment periods (1 + installment interest rateperiod -1) number of repayment periods - 1​ 1.6 In the event that The new interest rate shall be adopted in case the People’s Bank of China adjusts decides to adjust the loan determination method for the interest rate determination method, it shall be handled in accordance with the relevant provisions of the People’s Bank of Chinarate, and the Lender shall lender is not obligated to notify the Borrower separately.borrower. ​ 1.7 Where If the loan interest rate on the signing date of this agreement is executed by reducing a certain number of basis points in accordance with lower than the Loan Prime Rate (LPR) LPR published by the National Interbank Funding Center at the time of signing this ContractLending Center, the Lender lender has the right to reassess reevaluate annually and cancel part or all of the interest rate preference granted to based the Borrower annuallyevaluation of policy change, the borrower’s credit status, etc. and to cancel the interest rate preference granted to the Borrower in full or in part at its own discretion in accordance with the national policy, credit status of the Borrower and changes in the loan guarantee, and to notify the Borrower promptly.borrower in a timely manner. ​ 1.8 Unless otherwise specifiedstated, the loan interest rate herein shall be in this contract is the annualized interest rate calculated by the simple interest method.. ​

Interest Rate and Interest. 1.1 Where If the loan currency is a foreign currency and priced on a the term interest rate or floating overnight interest rate basismethod is selected for pricing, the applicable pricing benchmark applicable on the Interest Rate Determination Date interest rate determination date (T day, or if the latest workday prior to the Interest Rate Determination Date in the event that it interest rate determination date is not a workdayworking day, the nearest working day before it shall be taken as T day) shall be the interest rate value for the T-N workdays working days corresponding to the pricing benchmark agreed upon herein as in this contract displayed on the terminal page of the terminal of Refinitiv or Bloomberg Financial TelecommunicationsTelecommunication. In case If the interest rate pricing benchmark on interest rate is negative, execute it shall be executed at as zero. The aforesaid workdays are above-mentioned working days refer to the local business working days of the loan currency pricing benchmark administratorsmanagement institution. For the applicable term interest ratesrate, the value of N is 2; for applicable For floating overnight interest rates, the value of N is 5. Lest there be any doubt that For the avoidance of doubt, the SOFR term interest rate agreed upon herein in this contract refers to the SOFR term interest rate issued published by the Chicago Mercantile Exchange (CME) as determined recognized by the Alternative Reference Interest Rate Committee (ARRC)) in the United States; the The XXXXX term interest rate agreed upon herein in this contract refers to the XXXXX term interest rate issued published by Refinitiv. Any If there is a significant change in the pricing benchmark benchmark, it shall be handled based on in accordance with the effective market rules in force at the that time. Should If the Lender then request lender requests the Borrower borrower to sign a supplementary agreement on the relevant mattersmatters at that time, the Borrower shall borrower should cooperate. 1.2 In case If the loan interest rate hereunder under this contract adopts a floating interest rate, the rules of interest rate adjustment rules shall still be implemented in the original method upon manner after the overdue loanloan is overdue. 1.3 For loans with monthly interest settlementpayments, the settlement interest payment date shall be is on the 20th day of each month; for For quarterly interest settlement, the interest settlement date shall be is on the 20th day of the last month of each quarter; and for semi-annual For interest settlementpayments made every six months, the settlement date shall be payment dates are June 20 20th and December 20 of 20th each year. 1.4 The first interest period is from the actual withdrawal date of the Borrower’s actual withdrawal borrower to the first interest settlement date; the The last interest accruing period is from the day following after the end of the previous interest accruing period to the final repayment date; and the rest of the The remaining interest accruing period is periods are from the day following after the end of the previous interest accruing period to the next interest settlement date. 1.5 Loan interest = loan interest=Loan principal x daily Daily interest rate x actual days of useActual usage days. Where If the interest rate is determined by Method using the method specified in Article 3.2 (3) set forth in Article 3.2 of Part I of this Contract, contract and the loan interest on the loan shall be is calculated by the through a combination of simple interest and compound interest, the interest accrual calculation rule shall be is as follows: for the portion calculated based on a the pricing benchmark, such portion of the interest for each workday = working day is calculated as follows: (loan principal + total principal+total amount of interest on this portion accrued as of owed up to the previous natural day) x multiplied by the benchmark date interest rate applicable for on that day; for non-The interest on this portion of non working daysdays is the same as the interest on the most recent working day before, but if there is a change in the loan principal, the interest on this portion is the same as that on the latest workday prior to that day, but if the loan principal amount changes, the interest on this portion shall should be adjusted accordingly by reference according to the aforementioned above formula. The spread-portion calculated based portion on the spread is calculated on a using simple interest basismethod. The workdays mentioned working days referred to in this Article are article refer to the local business working days of the loan borrowing currency pricing benchmark administrators. For the average capital plus interest repayment method, the calculation formula for principal and interest repayable is as follows: Total principal and interest per installment = Loan principal × installment interest rate × (1 + installment interest rate) number of repayment periods (1 + installment interest rate) number of repayment periods - 1 1.6 In the event that the People’s Bank of China adjusts the loan interest rate determination method, it shall be handled in accordance with the relevant provisions of the People’s Bank of China, and the Lender shall not notify the Borrower separatelymanagement institution. 1.7 Where the loan interest rate is executed by reducing a certain number of basis points in accordance with the Loan Prime Rate (LPR) published by the National Interbank Funding Center at the time of signing this Contract, the Lender has the right to reassess the interest rate preference granted to the Borrower annually, and to cancel the interest rate preference granted to the Borrower in full or in part at its own discretion in accordance with the national policy, credit status of the Borrower and changes in the loan guarantee, and to notify the Borrower promptly. 1.8 Unless otherwise specified, the loan interest rate herein shall be the annualized interest rate calculated by simple interest method.

Interest Rate and Interest. 1.1 Where the loan currency is a For foreign currency and priced on a term borrowing, LIBOR is the interbank interest rate or floating overnight interest rate basis, for the applicable pricing benchmark lending currency under the Contract displayed on the Interest Rate Determination Date Reuters financial telecommunications terminal “LIBO=“ page two banking days (T day, or the latest workday 11: 00 am London time) prior to the Interest Rate Determination Date in the event that it is not a workday) shall be the withdrawal date or benchmark interest rate value adjustment date; HIBOR is the interbank interest rate for the T-N workdays corresponding to lending currency under the pricing benchmark agreed upon herein as Contract displayed on the Reuters financial telecommunications terminal “HIBO=“ page of two banking days (11: 15 am Hong Kong time) prior to the terminal of Refinitiv withdrawal date or Bloomberg Financial Telecommunications. In case the pricing benchmark on interest rate is negative, it shall be executed at zero. The aforesaid workdays are the local business days of the loan currency pricing benchmark administrators. For applicable term interest rates, the value of N is 2; for applicable floating overnight interest rates, the value of N is 5. Lest there be any doubt that the SOFR term rate agreed upon herein refers to the SOFR term rate issued by the Chicago Mercantile Exchange (CME) as determined by the Alternative Reference Rate Committee (ARRC); the XXXXX term rate agreed upon herein refers to the XXXXX term rate issued by Refinitiv. Any significant change in the pricing benchmark shall be handled based on the market rules in force at the time. Should the Lender then request the Borrower to sign a supplementary agreement on the relevant matters, the Borrower shall cooperateadjustment date. 1.2 In case the loan Should a floating interest rate hereunder adopts a floating ratebe used for loans under the Contract, the rules of original interest rate adjustment shall still be implemented in the original method upon the used for interest on overdue loanloans. 1.3 For Should loan interest be settled on a monthly interest settlementbasis, the settlement date shall be the 20th day of each month; for quarterly should interest settlementbe settled quarterly, the settlement date shall be the 20th day of the last month of each quarter; and for should interest be settled semi-annual interest settlementannually, the settlement date shall be June 20 and or December 20 of each year. 1.4 The first interest interest-bearing period is shall be from the actual date of the Borrower’s actual withdrawal to the first interest settlement date; the last interest accruing interest-bearing period is shall be from the day following after the end of the previous interest accruing interest-bearing period to the final repayment payment date; and the rest of the interest accruing period is all other interest-bearing periods shall be from the day following date after the end of the previous interest accruing interest-bearing period to the next interest settlement date. 1.5 Loan Interest = Loan Principal × Daily Interest Rate × Actual Days of Use. Should the equal principal and interest = loan principal x daily interest rate x actual days of use. Where the interest rate is determined by Method (3) set forth in Article 3.2 of Part I of this Contract, and the interest on the loan shall repayment method be calculated by the combination of simple and compound interestadopted, the formula for calculating the principal and interest accrual rule shall be as follows: for the portion calculated on a pricing benchmark, such portion of interest for each workday = (loan principal + total interest on this portion accrued as of the previous natural day) x the benchmark date interest rate applicable for that day; for non-working days, the interest on this portion is the same as that on the latest workday prior to that day, but if the loan principal amount changes, the interest on this portion shall be adjusted accordingly by reference to the aforementioned formula. The spread-based portion is calculated on a simple interest basis. The workdays mentioned in this Article are the local business days of the loan currency pricing benchmark administrators. For the average capital plus interest repayment method, the calculation formula for principal and interest repayable is as follows: Total principal and interest per installment = Loan principal × installment interest rate × (1 + installment interest rate) number of repayment periods: (1 + installment interest ratePeriod Profit) number Number of repayment periods Repayment Installments - 1 1.6 In the event that Should the People’s Bank of China adjusts the adjust its measures for determining loan interest rate determination methodrates applicable to lending under the Contract, it shall be handled in accordance with the relevant provisions rules of the People’s Bank of ChinaChina shall be adopted, and the Lender shall not notify provide separate notice thereof to the Borrower separatelyBorrower. 1.7 Where The lending rate determined at the signing of the Contract may float downward to a certain degree from the relevant loan benchmark interest rate published by the People’s Bank of China or the loan interest prime rate is executed by reducing a certain number of basis points in accordance with the Loan Prime Rate (LPR) published by the National Interbank Funding Center at Center. The Lender is entitled to re-evaluate the time of signing this ContractBorrower’s interest rate concessions each year and determine whether to cancel, the Lender has the right to reassess in part or in full, the interest rate preference concessions granted to the Borrower annuallyBorrower, based on national policies, the Borrower’s credit standing, lending guarantee changes, and to cancel the interest rate preference granted to the Borrower in full or in part at its own discretion in accordance with the national policy, credit status of the Borrower and changes in the loan guaranteeother such circumstances, and to promptly notify the Borrower promptlyof such a cancellation. 1.8 Unless otherwise specified, the loan interest rate herein shall be the annualized interest rate calculated by simple interest method.

Interest Rate and Interest. 1.1 Where the loan currency is a For foreign currency and priced on a term borrowing, LIBOR is the interbank interest rate or floating overnight interest rate basis, for the applicable pricing benchmark lending currency under the Contract displayed on the Interest Rate Determination Date Reuters financial telecommunications terminal “LIBO=” page two banking days (T day, or the latest workday 11: 00 am London time) prior to the Interest Rate Determination Date in the event that it is not a workday) shall be the withdrawal date or benchmark interest rate value adjustment date; HIBOR is the interbank interest rate for the T-N workdays corresponding to lending currency under the pricing benchmark agreed upon herein as Contract displayed on the Reuters financial telecommunications terminal “HIBO=” page of two banking days (11: 15 am Hong Kong time) prior to the terminal of Refinitiv withdrawal date or Bloomberg Financial Telecommunications. In case the pricing benchmark on interest rate is negative, it shall be executed at zero. The aforesaid workdays are the local business days of the loan currency pricing benchmark administrators. For applicable term interest rates, the value of N is 2; for applicable floating overnight interest rates, the value of N is 5. Lest there be any doubt that the SOFR term rate agreed upon herein refers to the SOFR term rate issued by the Chicago Mercantile Exchange (CME) as determined by the Alternative Reference Rate Committee (ARRC); the XXXXX term rate agreed upon herein refers to the XXXXX term rate issued by Refinitiv. Any significant change in the pricing benchmark shall be handled based on the market rules in force at the time. Should the Lender then request the Borrower to sign a supplementary agreement on the relevant matters, the Borrower shall cooperateadjustment date. 1.2 In case the Should loan interest rate hereunder adopts be settled on a floating rate, the rules of interest rate adjustment shall still be implemented in the original method upon the overdue loan. 1.3 For monthly interest settlementbasis, the settlement date shall be the 20th day of each month; for quarterly should interest settlementbe settled quarterly, the settlement date shall be the 20th day of the last month of each quarter; and for should interest be settled semi-annual interest settlementannually, the settlement date shall be June 20 and or December 20 of each year. 1.4 1.3 The first interest interest-bearing period is shall be from the actual date of the Borrower’s actual withdrawal to the first interest settlement date; the last interest accruing interest-bearing period is shall be from the day following after the end of the previous interest accruing interest-bearing period to the final repayment payment date; and the rest of the interest accruing period is all other interest-bearing periods shall be from the day following date after the end of the previous interest accruing interest-bearing period to the next interest settlement date. 1.5 1.4 Loan Interest = Loan Principal × Daily Interest Rate × Actual Days of Use. Should the equal principal and interest = loan principal x daily interest rate x actual days of use. Where the interest rate is determined by Method (3) set forth in Article 3.2 of Part I of this Contract, and the interest on the loan shall repayment method be calculated by the combination of simple and compound interestadopted, the formula for calculating the principal and interest accrual rule shall be as follows: for the portion calculated on a pricing benchmark, such portion of interest for each workday = (loan principal + total interest on this portion accrued as of the previous natural day) x the benchmark date interest rate applicable for that day; for non-working days, the interest on this portion is the same as that on the latest workday prior to that day, but if the loan principal amount changes, the interest on this portion shall be adjusted accordingly by reference to the aforementioned formula. The spread-based portion is calculated on a simple interest basis. The workdays mentioned in this Article are the local business days of the loan currency pricing benchmark administrators. For the average capital plus interest repayment method, the calculation formula for principal Total Principal and interest repayable is as follows: Total principal and interest per installment Interest Per Period = Loan principal × installment interest rate × Principle x Period Profit x (1 + installment interest ratePeriod Profit) number Number of repayment periodsRepayment Installments (1 + installment interest ratePeriod Profit) number Number of repayment periods Repayment Installments - 1 1.5 For lending under the Contract that adopts a floating interest rate, after a loan is overdue, the rules for interest rate adjustments shall remain unchanged. 1.6 In the event that Should the People’s Bank of China adjusts the adjust its measures for determining loan interest rate determination methodrates applicable to lending under the Contract, it shall be handled in accordance with the relevant provisions rules of the People’s Bank of ChinaChina shall be adopted, and the Lender shall not notify provide separate notice thereof to the Borrower separatelyBorrower. 1.7 Where The lending rate determined at the signing of the Contract may float downward to a certain degree from the relevant loan benchmark interest rate published by the People’s Bank of China or the loan interest prime rate is executed by reducing a certain number of basis points in accordance with the Loan Prime Rate (LPR) published by the National Interbank Funding Center at Center. The Lender is entitled to re-evaluate the time of signing this ContractBorrower’s interest rate concessions each year and determine whether to cancel, the Lender has the right to reassess in part or in full, the interest rate preference concessions granted to the Borrower annuallyBorrower, based on national policies, the Borrower’s credit standing, lending guarantee changes, and to cancel the interest rate preference granted to the Borrower in full or in part at its own discretion in accordance with the national policy, credit status of the Borrower and changes in the loan guaranteeother such circumstances, and to promptly notify the Borrower promptlyof such a cancellation. 1.8 Unless otherwise specified, the loan interest rate herein shall be the annualized interest rate calculated by simple interest method.