PRINCIPAL TERMS OF THE LOAN AGREEMENT. On November 20, 2020, Tibet Honghe Zhiyuan entered into the Loan Agreement with Jinhua Hospital, pursuant to which, Tibet Honghe Zhiyuan has conditionally agreed to grant the Loan to Jinhua Hospital for a term of one year from the date of the relevant drawdown of each installment of the Loan. The principal terms of the Loan Agreement are set out below:
PRINCIPAL TERMS OF THE LOAN AGREEMENT. The principal terms of the Loan Agreement are summarised as follows:
PRINCIPAL TERMS OF THE LOAN AGREEMENT. The principal terms of the Loan Agreement are set forth below. 16 June 2022
PRINCIPAL TERMS OF THE LOAN AGREEMENT. Date 23 June 2020 Parties (1) Shouda Huihe, a wholly-owned subsidiary of the Company, as lender; (2) Micro Parking, a wholly-owned subsidiary of Vstartup, as borrower; and (3) Vstartup, as guarantor. Principal amount of the Credit Facility Up to RMB50,000,000. Interest rate 6.88% per annum, which is determined after arm’s length negotiations among the parties and shall be calculated from the day following the date of drawdown up to the corresponding date of principal repayment. Drawdown period of the Credit Facility One (1) year commencing from the effective date of the Loan Agreement. Term of the Loans Up to three (3) years from the date of drawdown. Guarantee and pledge (i) Vstartup, as the sole shareholder of Micro Parking, jointly guarantees the payment obligations of Micro Parking under the Loan Agreement and undertakes to repay all the overdue principal amounts of the Loan(s) together with accrued interests thereon within 10 business days from the relevant due date if Micro Parking fails to perform its obligations thereunder; and (ii) Micro Parking shall pledge the income derived under the projects pertaining to each Loan in favour of Xxxxxx Xxxxx as security for the payment obligations of Micro Parking under the Loan Agreement.
PRINCIPAL TERMS OF THE LOAN AGREEMENT. Date 30 December 2020
PRINCIPAL TERMS OF THE LOAN AGREEMENT. Date : 1 November 2019 (after trading hours)
PRINCIPAL TERMS OF THE LOAN AGREEMENT. On July 24, 2019, the Company entered into the Loan Agreement with Jinhua Hospital, pursuant to which, the Company has conditionally agreed to grant through the PRC Subsidiaries the Loan to Jinhua Hospital. The principal terms of the Loan Agreement are set out below:
PRINCIPAL TERMS OF THE LOAN AGREEMENT. The principal terms of the Loan Agreement are as follows: Date: 7 October 2024 Lender: X8 Finance, a wholly-owned subsidiary of the Company Borrower: the Borrowers Mortgagor: Borrower A Principal Loan Amount: HK$100,000,000, the drawdown of which will take place on 7 Repayment Date: The outstanding principal amount of the Loan shall be fully repaid in one lump sum on 7 October 2025, being 12 months from 7 October 2024 Interest: 31% per annum for the first and second month from the date of drawdown of the Loan, payable in arrears on 7 November 2024 and 7 December 2024 respectively; and 21% per annum thereafter, payable in monthly instalments in arrears Default interest rate: 21% per annum Security for the Loan: A legal charge/mortgage in respect of two floors of a residential property and a portion of garage space located in Hong Kong was executed by the Mortgagor in favour of X8 Finance on 17 January 2024 to secure, among others, all loans advanced by X8 Finance to the Borrowers and interest thereon As one of the applicable percentage ratios (as defined under the Listing Rules) in respect of the amount of the Loan exceeds 25% under Rule 14.07 of the Listing Rules, the Loan Transaction constitutes a major transaction of the Company and is therefore subject to the reporting, announcement, circular and shareholders’ approval requirements under Chapter 14 of the Listing Rules.
PRINCIPAL TERMS OF THE LOAN AGREEMENT. The principal terms of the Loan Agreement are summarized as below: Date : 18 June 2019 Co-lenders : 1. Planetic International Limited 2. STI Partners Limited 3. China Yinsheng Finance Limited Borrower : an individual, being an Independent Third Party Loan : HK$64,000,000 (Hong Kong Dollars Sixty-Four Million) Xxxxxxxx’s interest rate : 13.02% per annum Drawdown date : 20 June 2019 Repayment : The Loan will be repaid in full on 20 June 2020 while the interest will be repaid by twelve (12) consecutive monthly, the first of such instalements to be paid on the 20th day of July 2019 and the subsequent 20th day of each calendar month until full repayment thereof Mortgage : the charge over the Properties by the Borrower in favour of the Co- lenders as security for the due performance of all moneys payable by the Borrower to the Co-lenders Properties : Two residential properties situated in Homantin, Kowloon, with current market value of approximately HK$92.0 million One of the Group principal businesses is loan financing. The terms of the Co-lending Agreement and the Loan Agreement, including the interest rates, were arrived at after arm’s length negotiation between the parties having taken into account the prevailing market interest rates and practice. The Co-lending Agreement and the Loan Agreement allow the Company to invest its cash resources not immediately required in its operations in potential loan businesses offering a return well in excess of returns available from bank deposits or similar investments. By collaborating with other Co-lenders, the Company can target a broader range of customers / borrowers which in turn expands and diversifies the Company’s loan financing business. Having considered the terms of the Co-lending Agreement and the Loan Agreement, the Directors are of the view that the Co-lending Agreement, the Loan Agreement and the transactions contemplated thereunder are in line with the Company’s business strategy and consider that the terms of Co-lending Agreement and the Loan Agreement are on normal commercial terms and are fair and reasonable and are in the interests of the Company and its shareholders as a whole.
PRINCIPAL TERMS OF THE LOAN AGREEMENT. The principal terms of the Loan Agreement include the following:
(i) Purpose: The Loan Agreement provides that the proceeds of the Facility shall be used strictly for the purposes of the provision of a shareholder’s loan (the “Shareholder’s Loan”) to its subsidiary Tianjin Lizhong Wheel Company Limited (“Tianjin Lizhong”). The purpose of the Shareholder’s Loan will be for:
(a) Tianjin Lizhong’s purchase of new machinery and equipment for the aluminium alloy wheel production of Tianjin Lizhong located at Xx. 00, Xxxxxxxx Xxxxxx, Xxxx Xxxx, Xxxxxxx Xxxxxxxx - Technological Development Area, Tianjin, the Peoples’ Republic of China; and
(b) for repayment of Tianjin Lizhong’s existing debts of Tianjin Lizhong in the total amount of RMB 90,000,000 owed by Tianjin Lizhong to (i) Industrial and Commercial Bank of China, Tianjin Branch in the amount of RMB 40,000,000 (ii) China Citic Bank, Tianjin Branch in the amount of RMB 30,000,000 and (iii) Huaxia Bank, Tianjin Binhai New Zone Branch in the amount of RMB 20,000,000.
(ii) Conditions precedent: It is one of the conditions precedent of the Loan Agreement that Xx Xxxxx Investment Limited, a substantial shareholder of Lizhong Wheel, to enter into a shares security deed to pledge its ordinary shares in the issued and paid-up capital of Lizhong Wheel. The drawdown of the Facility is also conditional upon the satisfaction of certain other conditions precedent, inter alia, that Lizhong Wheel shall make drawdown not more than 3 times on any Banking Day during the period commencing on the date of the Loan Agreement and ending on the earlier of (i) March 29, 2013 and (ii) the date on which the Facility is fully drawn or terminated under the provisions of this Agreement.
