Common use of Loan Terms Clause in Contracts

Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loan. The term under this Agreement shall be automatically extended for another ten years unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the Lender's prior written approval or the expiration of this Agreement. The Borrower shall repay the Loan by using all the funds obtained by him from transferring all of the Borrower's equity in Beijing Jingwei Zhihui Information Technology Co. Ltd, a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”) to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Jingwei Zhihui is transferred as stipulated above and if all fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in case any one of the following occurs: 2.4.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 The Borrower commits crime or is involved in crime; 2.4.3 Any third party claims debt of the Borrower exceeding RMB One Million (RMB 1,000,000) which the Borrower is not able to repay; 2.4.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 2 contracts

Samples: Loan Agreement (Renren Inc.), Loan Agreement (Renren Inc.)

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Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loan. The term under this Agreement shall be automatically extended for another ten years unless except when the written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Borrower hereby agrees and warrants that such Loan provided by the Lender shall be used only for the investment in Qianjun. Without the Lender’s prior written consent, the Borrower shall not transfer or pledge its equity interest hereunder to any other third party. 2.3 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with upon the Lender's prior written approval ’s requirement or the expiration of this Agreement. The Borrower shall repay the Loan only in the following way and amount: the Borrower shall repay the Loan only by using all the funds obtained by him from transferring all of the Borrower's ’s equity in Beijing Jingwei Zhihui Information Technology Co. Ltd, a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”) Qianjun to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Jingwei Zhihui Qianjun is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in advance in case any one of the following occurs: 2.4.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 Xxxxxx Xxxx (the current legal representative of the Lender) quits or is dismissed from the Lender or the Lender’s affiliated corporations; 2.4.3 The Borrower commits crime or is involved in crime; 2.4.3 2.4.4 Any third party claims debt of the Borrower exceeding RMB One Million 1,000,000 (RMB 1,000,000one million) which the Borrower is not able to repay; 2.4.4 2.4.5 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 2.4.6 In the event that the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 2 contracts

Samples: Loan Agreement (Renren Inc.), Loan Agreement (Renren Inc.)

Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated years from the execution date when the Borrower actually draws the Loanof this Agreement. The term under this Agreement shall be automatically extended for another successive ten years year periods unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the for Lender's prior written approval ’s requirement or the expiration of this Agreement. The Borrower shall repay the Loan only in the following way and amount: the Borrower shall repay the Loan only by using all the funds obtained by him the Borrower from transferring all of the entire Borrower's ’s equity in Beijing Jingwei Zhihui Information Technology Co. Ltd, a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”) Shanghai Quan Toodou to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such the Borrower’s equity in Jingwei Zhihui Shanghai Quan Toodou is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan Loans hereunder shall be regarded as repaid. 2.4 2.3 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in advance in case any one of the following occurs: 2.4.1 2.3.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 2.3.2 The Borrower commits a crime or is involved in crime; 2.4.3 2.3.3 Any third party claims debt of the Borrower exceeding RMB One Million RMB1,000,000 (RMB 1,000,000one million) which the Borrower is not able to repay; 2.4.4 2.3.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business or online audiovisual streaming business under PRC law; or 2.4.5 2.3.5 In the event that the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 2 contracts

Samples: Loan Agreement (Youku Tudou Inc.), Loan Agreement (Youku Tudou Inc.)

Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loan. The term under this Agreement shall be automatically extended for another ten years unless except when the written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Borrower hereby agrees and warrants that such Loan provided by the Lender shall be used only for the investment in Qianjun. Without the Lender’s prior written consent, the Borrower shall not transfer or pledge its equity interest hereunder to any other third party. 2.3 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with upon the Lender's prior written approval ’s requirement or the expiration of this Agreement. The Borrower shall repay the Loan only in the following way and amount: the Borrower shall repay the Loan only by using all the funds obtained by him from transferring all of the Borrower's ’s equity in Beijing Jingwei Zhihui Information Technology Co. Ltd, a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”) Qianjun to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Jingwei Zhihui Qianjun is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in advance in case any one of the following occurs: 2.4.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 The current legal representative of the Lender quits or is dismissed from the Lender or the Lender’s affiliated corporations; 2.4.3 The Borrower commits crime or is involved in crime; 2.4.3 2.4.4 Any third party claims debt of the Borrower exceeding RMB One Million 1,000,000 (RMB 1,000,000one million) which the Borrower is not able to repay; 2.4.4 2.4.5 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 2.4.6 In the event that the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 2 contracts

Samples: Loan Agreement (Renren Inc.), Loan Agreement (Renren Inc.)

Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loan. The term under this Agreement shall be automatically extended for another ten years unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the Lender's prior written approval or the expiration of this Agreement. The Borrower shall repay the Loan by using all the funds obtained by him from transferring all of the Borrower's equity in Beijing Jingwei Zhihui Shanghai Qianxiang Changda Internet Information Technology Co. LtdDevelopment Co., Ltd. (“Qianxiang Changda”), a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”) to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Jingwei Zhihui Qianxiang Changda is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded as repaid. 2.4 2.3 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in case any one of the following occurs: 2.4.1 2.3.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 2.3.2 The Borrower commits crime or is involved in crime; 2.4.3 2.3.3 Any third party claims debt of the Borrower exceeding RMB One Million 10,000,000 (RMB 1,000,00010,000,000) which the Borrower is not able to repay; 2.4.4 2.3.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 2.3.5 the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 2 contracts

Samples: Loan Agreement (Renren Inc.), Loan Agreement (Renren Inc.)

Loan Terms. 2.1 The term for such Loan Loans will be ten (10) years, calculated from the date when the Borrower Borrowers actually draws draw the LoanLoans. The term under this Agreement shall be automatically extended for another ten years unless except the written notice to the contrary opposite is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Borrowers hereby jointly agree and warrant that such loan provided by the Lender shall be used only for the investment in the Jiaheyi. Without the Lender’s prior written consent, the Borrowers shall not transfer or pledge its equity interest hereunder to any other third party. 2.3 The Lender and the Borrower jointly agree and confirm that the Borrower Borrowers shall not repay the Loan Loans in advance except with the for Lender's prior written approval ’s requirement or the expiration of this Agreement. The Each Borrower shall repay the Loan Loans only in the following way and amount: the Borrower shall repay the Loans only by using all the funds obtained by him such Borrower from transferring all of the Borrower's ’s equity in Beijing Jingwei Zhihui Information Technology Co. Ltd, a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”) Jiaheyi to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower such borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Jingwei Zhihui Jiaheyi is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan Loan(s) hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower Borrowers agree and confirm that the each Borrower shall immediately repay the Loan Loans in advance in case any one of the following occurs: 2.4.1 The A Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 The Borrower commits crime or is involved in crime; 2.4.3 Any third party claims debt of the Borrower exceeding RMB One Million (RMB 1,000,000) which the Borrower is not able to repay; 2.4.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (YOUKU.COM Inc.)

Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loan. The term under this Agreement shall be automatically extended for another ten years unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the Lender's ’s prior written approval or the expiration of this Agreement. The Borrower shall repay the Loan by using all the funds obtained by him from transferring all of the Borrower's ’s equity in Beijing Jingwei Zhihui Information Shanghai Renren Automobile Technology Co. LtdCompany Limited. (“Renren Automobile”), a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”) to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Jingwei Zhihui Renren Automobile is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded as repaid. 2.4 2.3 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in case any one of the following occurs: 2.4.1 2.3.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 2.3.2 The Borrower commits crime or is involved in crime; 2.4.3 2.3.3 Any third party claims debt of the Borrower exceeding RMB One Million 10,000,000 (RMB 1,000,00010,000,000) which the Borrower is not able to repay; 2.4.4 2.3.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 2.3.5 the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (Kaixin Auto Holdings)

Loan Terms. 2.1 The term for such Loan Loans will be ten (10) years, calculated from the date when the Borrower Borrowers actually draws draw each of the LoanLoans. The term under this Agreement shall be automatically extended for another ten years unless except the written notice to the contrary opposite is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Borrowers hereby jointly agree and warrant that such loan provided by the Lender shall be used only for the investment in the Beijing 1Verge Infotech. Without the Lender’s prior written consent, the Borrowers shall not transfer or pledge its equity interest hereunder to any other third party. 2.3 The Lender and the Borrower jointly agree and confirm that the Borrower Borrowers shall not repay the Loan Loans in advance except with the for Lender's prior written approval ’s requirement or the expiration of this Agreement. The Each Borrower shall repay the Loan Loans only in the following way and amount: the Borrower shall repay the Loans only by using all the funds obtained by him such Borrower from transferring all of the Borrower's ’s equity in Beijing Jingwei Zhihui Information Technology Co. Ltd, a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”) 1Verge Infotech to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower such borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Jingwei Zhihui Beijing 1Verge Infotech is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan Loan(s) hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower Borrowers agree and confirm that the each Borrower shall immediately repay the Loan Loans in advance in case any one of the following occurs: 2.4.1 The A Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 The Borrower commits crime or is involved in crime; 2.4.3 Any third party claims debt of the Borrower exceeding RMB One Million (RMB 1,000,000) which the Borrower is not able to repay; 2.4.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (YOUKU.COM Inc.)

Loan Terms. 2.1 The term for such Loan loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loanloan. The term under this Agreement shall be automatically extended for another ten years unless except the written notice to the contrary opposite is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Borrower hereby agrees and warrants that such loan provided by the Lender shall be used only for the investment in the Beijing AirInBox Information Technologies Co.,Ltd. Without the Lender's prior written consent, the Borrower shall not transfer or pledge its equity interest hereunder to any other third party. 2.3 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan loan in advance except with the for Lender's prior written approval requirement or the expiration of this Agreementagreement. The Borrower shall repay the Loan loan only in the following way and amount: the Borrower shall repay the loan only by using all the funds fund obtained by him the Borrower from transferring all of the Borrower's equity in Beijing Jingwei Zhihui AirInBox Information Technology Co. LtdTechnologies Co., a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”Ltd to KongZhong Information Technology(Beijing) to Lender Co.,Ltd or to any other third party designated by KongZhong Information Technology (Beijing) Co.,Ltd. All of the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s 's equity in Jingwei Zhihui Beijing AirInBox Information Technologies Co., Ltd is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan loan hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower jointly agree and confirm that the Borrower shall immediately repay the Loan loan in advance in case any one of the following occurs: 2.4.1 The the Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 The Borrower commits crime or is involved in crime; 2.4.3 Any third party claims debt of the Borrower exceeding RMB One Million (RMB 1,000,000) which the Borrower is not able to repay; 2.4.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (Kongzhong Corp)

Loan Terms. 2.1 (a) The term for Loan shall be evidenced by a promissory note as such may be amended, modified, extended or restated, or a promissory note issued as a replacement or substitution therefore (the "Note") payable to Lender in substantially the form attached hereto as Exhibit A. (b) The Loan will shall be ten payable in one installment of all outstanding principal and unpaid, accrued interest on December 31, 1998 (10"the Maturity Date"). (c) yearsInterest shall accrue on the principal amount outstanding under the Loan at the rate of nine and three-quarter percent (9.75%) per annum and shall be payable monthly commencing on December 1, calculated from 1997 and on the Maturity Date or the date when of any other payment of principal under the Note. Interest shall be calculated on a 365 day year basis and actual days elapsed from disbursement date until paid. (d) The entire amount of unpaid principal and accrued interest shall, from and after the Maturity Date and from and after an "Event of Default" (as hereinafter defined), bear interest at the rate equal to the lesser of (i) twenty-four percent (24%) per annum and (ii) the maximum interest rate permitted by law. (e) The Borrower may at any time prepay in whole or in part the principal sum, plus accrued interest on the amount so prepaid to date of payment, of the Note, without premium or penalty. Unless otherwise agreed by Lender, any prepayments shall be applied first to accrued interest and then to the unpaid principal amount of the Loan. (f) The Loan, and each and every modification, extension, renewal, or refinancing thereof, and the performance of all covenants, duties and obligations of the Borrower actually draws and the compliance by the Borrower with all conditions, representations and warranties set forth in this Loan Agreement, the other "Loan Documents" (as hereinafter defined) and all documents executed in connection herewith, shall be secured by a security interest in all assets of the Borrower pursuant to a General Security Agreement annexed hereto as Exhibit B and by the Guarantee Agreement annexed hereto as Exhibit C. (g) Simultaneously with the execution of this Loan Agreement, News shall issue to Lender, a five-year warrant to purchase on or after February 28, 1998, 300,000 shares of common stock of News at an initial exercise price of $2.25 per share pursuant to the Warrant (the "Warrant") annexed hereto as Exhibit D, unless prior to that date the Lender shall instead elect to receive interest at the rate of 10.75% per annum, retroactive to the initial date of the Loan. (h) Lender shall not be required to make the Loan hereunder, unless and until the following shall be satisfied: 1. The term under this Loan Agreement, the Note, the General Security Agreement and the Guarantee (collectively, the "Loan Documents") and the Warrant have been duly executed and delivered to Lender and shall be automatically extended for another ten years unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreementin full force and effect in accordance with their terms. 2.2 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the Lender's prior written approval or the expiration of this Agreement2. The Borrower and News shall repay the Loan by using all the funds obtained by him from transferring have therefor complied with all of the Borrower's equity conditions, terms, covenants and agreements contained in Beijing Jingwei Zhihui Information Technology Co. Ltdthe Loan Documents and all documents executed in connection herewith, a company incorporated under including the laws Warrant, and all representations and warranties of the People’s Republic Borrower and News are true and correct as of China (“Jingwei Zhihui”) to Lender or to any other third party designated by the Lenderdate of the borrowing. 3. In case At the funds received by time of the Borrower from transferring the aforesaid equity is subject to any tax or administrative expensesborrowing hereunder, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Jingwei Zhihui is transferred as stipulated above and if all fund thereof is repaid deliver to the Lender a certificate, dated the date of the borrowing, confirming that no Event of Default (as hereinafter defined) or any event which upon notice or passage of time or both would constitute an Event of Default shall have occurred and be continuing at the time of such borrowing. 4. On or prior to the date of the borrowing hereunder, the Lender shall have received from Borrower and News: (x) A Certificate of an officer of each of Borrower and News dated the date of such borrowing and certifying (i) that attached thereto is a true and complete copy of the articles and by laws of Borrower and News, respectively, in effect prior to the adoption of the resolution referred to in the immediate following clause and at all times since adoption, and (ii) in the case of the Borrower, that attached thereto is a true and complete copy of the resolutions adopted by the Board of Directors of Borrower authorizing the execution, delivery and performance of the Loan Documents by the Borrower, all and in the outstanding case of News, that attached thereto is a true and complete copy of the resolutions adopted by the Board of Director of News authorizing the execution, delivery and performance of the Loan Documents and the Warrant; and (y) such other documents as the Lender may reasonably request. (i) If any payment of principal, interest or any other amount due hereunder is due upon a day which is not a day which the Lender is open for business ("Business Day") then such payment plus interest on such payment computed from the due date to the next succeeding Business Day shall be regarded as repaiddue on the next succeeding Business Day. 2.4 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in case any one of the following occurs: 2.4.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 The Borrower commits crime or is involved in crime; 2.4.3 Any third party claims debt of the Borrower exceeding RMB One Million (RMB 1,000,000) which the Borrower is not able to repay; 2.4.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (News Communications Inc)

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Loan Terms. 2.1 The term for such Loan Loans will be ten (10) years, calculated from the date when the Borrower actually draws each of the LoanLoans. The term under this Agreement shall be automatically extended for another ten years unless except when written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Borrower hereby agrees and warrants that such Loans provided by the Lender shall be used only for the investment in Xxxx Xxxxx. Without the Lender’s prior written consent, the Borrower shall not transfer or pledge its equity interest hereunder to any other third party. 2.3 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan Loans in advance except with upon the Lender's prior written approval ’s requirement or the expiration of this Agreement. The Borrower shall repay the Loan Loans only in the following way and amount: the Borrower shall repay the Loans only by using all the funds obtained by him her from transferring all of the Borrower's ’s equity in Beijing Jingwei Zhihui Information Technology Co. Ltd, a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”) Xxxx Xxxxx to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Jingwei Zhihui Xxxx Xxxxx is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan Loans hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan Loans in advance in case any one of the following occurs: 2.4.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 Xxxxxx Xxxx (the current legal representative of the Lender) quits or is dismissed from the Lender or the Lender’s affiliated corporations; 2.4.3 The Borrower commits crime or is involved in crime; 2.4.3 2.4.4 Any third party claims debt of the Borrower exceeding RMB One Million RMB1,000,000 (RMB 1,000,000one million) which the Borrower is not able to repay; 2.4.4 2.4.5 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 2.4.6 In the event that the Lender issues a written notice to the Borrower for repayment of the LoanLoans.

Appears in 1 contract

Samples: Loan Agreement (Renren Inc.)

Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loan. The term under this Agreement shall be automatically extended for another ten years unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the Lender's prior written approval or the expiration of this Agreement. The Borrower shall repay the Loan by using all the funds obtained by him from transferring all of the Borrower's equity in Beijing Jingwei Zhihui Information Shanghai Renren Automobile Technology Co. LtdCompany Limited. (“Renren Automobile”), a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”) to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Jingwei Zhihui Renren Automobile is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded as repaid. 2.4 2.3 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in case any one of the following occurs: 2.4.1 2.3.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 2.3.2 The Borrower commits crime or is involved in crime; 2.4.3 2.3.3 Any third party claims debt of the Borrower exceeding RMB One Million 10,000,000 (RMB 1,000,00010,000,000) which the Borrower is not able to repay; 2.4.4 2.3.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 2.3.5 the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (Renren Inc.)

Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loan. The term under this Agreement shall be automatically extended for another ten years unless except when the written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Borrower hereby agrees and warrants that such Loan provided by the Lender shall be used only for the investment in Xxxx Xxxxx. Without the Lender’s prior written consent, the Borrower shall not transfer or pledge its equity interest hereunder to any other third party. 2.3 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with upon the Lender's prior written approval ’s requirement or the expiration of this Agreement. The Borrower shall repay the Loan only in the following way and amount: the Borrower shall repay the Loan only by using all the funds obtained by him from transferring all of the Borrower's ’s equity in Beijing Jingwei Zhihui Information Technology Co. Ltd, a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”) Xxxx Xxxxx to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Jingwei Zhihui Xxxx Xxxxx is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in advance in case any one of the following occurs: 2.4.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 Xxxxxx Xxxx (the current legal representative of the Lender) quits or is dismissed from the Lender or the Lender’s affiliated corporations; 2.4.3 The Borrower commits crime or is involved in crime; 2.4.3 2.4.4 Any third party claims debt of the Borrower exceeding RMB One Million RMB1,000,000 (RMB 1,000,000one million) which the Borrower is not able to repay; 2.4.4 2.4.5 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 2.4.6 In the event that the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (Renren Inc.)

Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loan. The term under this Agreement shall be automatically extended for another ten years unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the Lender's ’s prior written approval or the expiration of this Agreement. The Borrower shall repay the Loan by using all the funds obtained by him from transferring all of the Borrower's ’s equity in Beijing Jingwei Zhihui Shanghai Qianxiang Changda Internet Information Technology Co. LtdDevelopment Co., Ltd. (“Qianxiang Changda”), a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”) to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Jingwei Zhihui Qianxiang Changda is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded as repaid. 2.4 2.3 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in case any one of the following occurs: 2.4.1 2.3.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 2.3.2 The Borrower commits crime or is involved in crime; 2.4.3 2.3.3 Any third party claims debt of the Borrower exceeding RMB One Million 10,000,000 (RMB 1,000,00010,000,000) which the Borrower is not able to repay; 2.4.4 2.3.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 2.3.5 the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (Kaixin Auto Holdings)

Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated years from the execution date when the Borrower actually draws the Loanof this Agreement. The term under this Agreement shall be automatically extended for another successive ten years year periods unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Borrower hereby confirms that such loan provided by the Lender was used only for the investment in the Heyi Pictures. Without the Lender’s prior written consent, the Borrower shall not transfer or pledge his equity interest hereunder to any other third party. 2.3 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except with the for Lender's prior written approval ’s requirement or the expiration of this Agreement. The Borrower shall repay the Loan only in the following way and amount: the Borrower shall repay the Loan only by using all the funds obtained by him the Borrower from transferring all of the entire Borrower's ’s equity in Beijing Jingwei Zhihui Information Technology Co. Ltd, a company incorporated under the laws of the People’s Republic of China (“Jingwei Zhihui”) Heyi Pictures to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such the Borrower’s equity in Jingwei Zhihui Heyi Pictures is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan Loans hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in advance in case any one of the following occurs: 2.4.1 The Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 The Borrower commits a crime or is involved in crime; 2.4.3 Any third party claims debt of the Borrower exceeding RMB One Million RMB1,000,000 (RMB 1,000,000one million) which the Borrower is not able to repay; 2.4.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business of production and distribution of film and television programs under PRC law; or 2.4.5 In the event that the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (Youku Tudou Inc.)

Loan Terms. 2.1 The term for such Loan loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loanloan. The term under this Agreement shall be automatically extended for another ten years unless except the written notice to the contrary opposite is given by the Lender three months prior to the expiration of this Agreement. 2.2 The Borrower hereby agrees and warrants that such loan provided by the Lender shall be used only for the investment in the Beijing AirInBox Information Technologies Co., Ltd. Without the Lender's prior written consent, the Borrower shall not transfer or pledge its equity interest hereunder to any other third party. 2.3 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan loan in advance except with the for Lender's prior written approval requirement or the expiration of this Agreementagreement. The Borrower shall repay the Loan loan only in the following way and amount: the Borrower shall repay the loan only by using all the funds fund obtained by him the Borrower from transferring all of the Borrower's equity in Beijing Jingwei Zhihui AirInBox Information Technology Co. LtdTechnologies Co., a company incorporated under the laws of the People’s Republic of China Ltd to KongZhong Information Technologies (“Jingwei Zhihui”Beijing) to Lender Co., Ltd or to any other third party designated by KongZhong Information Technology (Beijing) Co., Ltd. All of the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s 's equity in Jingwei Zhihui Beijing AirInBox Information Technologies Co., Ltd is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan loan hereunder shall be regarded as repaid. 2.4 The Lender and the Borrower jointly agree and confirm that the Borrower shall immediately repay the Loan loan in advance in case any one of the following occurs: 2.4.1 The the Borrower dies or becomes a person with no or limited capacity for civil rights; 2.4.2 The Borrower commits crime or is involved in crime; 2.4.3 Any third party claims debt of the Borrower exceeding RMB One Million (RMB 1,000,000) which the Borrower is not able to repay; 2.4.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or 2.4.5 the Lender issues a written notice to the Borrower for repayment of the Loan.

Appears in 1 contract

Samples: Loan Agreement (Kongzhong Corp)

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