Common use of Interest Rate and Payment of Interest Clause in Contracts

Interest Rate and Payment of Interest. 1. Subject to the negotiations between the Entrustor and the Borrower, the interest shall accrue on the Borrowing at the interest rate set forth with Item (1) below (the “Interest Rate”): (1) a fixed rate equal to 0% per annum. In the event that prior to the date of each actual disbursement after the disbursement date recorded under Article 4 above, there is any adjustment to the PRC base interest rate, the fixe interest rate shall be adjusted accordingly to be equal to the PRC base interest rate for one-year loans effective on the date of actual disbursement plus/minus [NA]%, or in other words, the actual interest rate applicable to the Borrowing shall be equal to the PRC base interest rate for one-year loans effective on the date of actual disbursement of the Borrowing multiplied by a coefficient of [N/A]. The Tenor shall not be adjusted due to any adjustment to the PRC base interest rate. (2) a floating rate, which shall be determined once every [NA] (month(s)/quarter(s)/half a year (each such period an “Interest Period”)), where, the interest rate per annum shall be the PRC base interest rate for one-year loans effective on the date of actual disbursement plus/minus [NA]%, or in other words, the actual interest rate applicable to the Borrowing shall be equal to the PRC base interest rate for one-year loans effective on the date of actual disbursement of the Borrowing multiplied by a coefficient of [N/A]. The interest rate for the initial Interest Period shall be equal to the PRC base interest rate for one-year loans effective on the date of actual disbursement multiplied by the coefficient specified in the preceding sentence; and on the day falling (months/quarters/half a year) after the date of actual disbursement, the interest rate for the next Interest Period shall be determined by multiplying the then effective PRC base interest rate of the corresponding tier and the coefficient specified in the preceding sentence. In case of any adjustment to the PRC base interest rate during the Tenor, no notice will be given to the Borrower. (3) any other interest rate: [NA]. 2. Where the Borrowing is disbursed by installments, the interest rate applicable to each installment shall be determined by taking the PRC base interest rate for one-year loans effective on the date of actual disbursement of such installment as the standard for calculation. 3. In the event that the PRC base interest rate is cancelled, the Entrustor hereby authorizes the Lender to redetermine the Interest Rate in accordance with the applicable PRC policies concerning interest rate, by adhering to the principal of fairness and good faith and by reference to the industrial practice, the status of the interest rate and any other similar factor. In case the Borrower has any disagreement thereon, it shall consult with the Entrustor. Where such disagreement fails to be resolved through such consultation, the Entrustor shall have the right to accelerate the Loan and the Borrower shall immediately pay any and all the principal and accrued interest then outstanding.

Interest Rate and Payment of Interest. 1. Subject to the negotiations between the Entrustor and the Borrower, the interest shall accrue on the Borrowing at the interest rate set forth with Item (1) below (the “Interest Rate”): (1) a fixed rate equal to 0% per annum. In the event that prior to the date of each actual disbursement after the disbursement date recorded under Article 4 above, there is any adjustment to the PRC base interest rate, the fixe fixed interest rate shall be adjusted accordingly to be equal to the PRC base interest rate for one-year loans effective on the date of actual disbursement plus/minus [NA]%, or in other words, the actual interest rate applicable to the Borrowing shall be equal to the PRC base interest rate for one-year loans effective on the date of actual disbursement of the Borrowing multiplied by a coefficient of [N/A]. The Tenor shall not be adjusted due to any adjustment to the PRC base interest rate. (2) a floating rate, which shall be determined once every [NA] (month(s)/quarter(s)/half a year (each such period an “Interest Period”)), where, the interest rate per annum shall be the PRC base interest rate for one-year loans effective on the date of actual disbursement plus/minus [NA]%, or in other words, the actual interest rate applicable to the Borrowing shall be equal to the PRC base interest rate for one-year loans effective on the date of actual disbursement of the Borrowing multiplied by a coefficient of [N/A]. The interest rate for the initial Interest Period shall be equal to the PRC base interest rate for one-year loans effective on the date of actual disbursement multiplied by the coefficient specified in the preceding sentence; and on the day falling (months/quarters/half a year) after the date of actual disbursement, the interest rate for the next Interest Period shall be determined by multiplying the then effective PRC base interest rate of the corresponding tier and the coefficient specified in the preceding sentence. In case of any adjustment to the PRC base interest rate during the Tenor, no notice will be given to the Borrower. (3) any other interest rate: [NA]. 2. Where the Borrowing is disbursed by installments, the interest rate applicable to each installment shall be determined by taking the PRC base interest rate for one-year loans effective on the date of actual disbursement of such installment as the standard for calculation. 3. In the event that the PRC base interest rate is cancelled, the Entrustor hereby authorizes the Lender to redetermine the Interest Rate in accordance with the applicable PRC policies concerning interest rate, by adhering to the principal of fairness and good faith and by reference to the industrial practice, the status of the interest rate and any other similar factor. In case the Borrower has any disagreement thereon, it shall consult with the Entrustor. Where such disagreement fails to be resolved through such consultation, the Entrustor shall have the right to accelerate the Loan and the Borrower shall immediately pay any and all the principal and accrued interest then outstanding.