Repayment of Loan. 3.1 The Lender and the Borrowers agree and confirm that the Loan will be repaid in the following manner only: the Borrowers will transfer all of their equity interests in the Borrower Company to the Lender or any legal or natural person designated by the Lender pursuant to requirements from the Lender.
3.2 The Lender and the Borrowers agree and confirm that to the extent permitted by the laws, the Lender has the right but no obligation to purchase or designate any legal or natural person designated by it to purchase all or any part of the equity interests in the Borrower Company from the Borrowers at the price set forth under the Exclusive Purchase Option Agreement.
3.3 It is agreed and confirmed by the Parties that the Borrowers shall be deemed to have fulfilled their repayment obligations hereunder only after both of the following conditions have been satisfied.
(1) The Borrowers have transferred all of their equity interests in the Borrower Company to the Lender and/or their designated person; and
(2) The Borrowers have repaid to the Lender all of the transfer proceeds or an amount equivalent to the maximum amount permitted by the laws.
3.4 The Loan will be deemed as a zero interest loan if the price to transfer the equity interests in the Borrower Company to the Lender from the Borrowers concluded by the Parties under this Agreement any other related agreements is equal or less than the amount of the Loan. Under such circumstance, the Borrowers are not required to repay any remaining amount of and/or any interest upon the Loan; provided, however, that if the equity interest transfer price exceeds the amount of the Loan, the exceeding amount will be deemed as the interest upon the Loan (calculated by the highest interest permitted by the PRC laws) and financing cost thereof.
3.5 Notwithstanding anything to the contrary, if the Borrower Company goes bankruptcy, dissolution or is ordered for closure during the term or extended term of this Agreement, and Borrowers will liquidate the Borrower Company according to laws and all of the proceeds from such liquidation will be used to repay the principal, interest (calculated by the highest interest permitted by the PRC laws) and financing cost of the Loan.
Repayment of Loan. 6.1.1 Upon the occurrence of either an Event of Default or a decision by Party A, in its sole discretion, to demand repayment of the Loan or any portion of the Loan, Party A may at its discretion issue a notice (Repayment Notice) to Party B requiring repayment of the Loan or any portion of the Loan and any other payment in arrears under this Agreement.
6.1.2 Party B shall repay the Loan by transferring the Equity Interest to Party A or the Designated Party, as directed by Party A, by signing and delivering an agreement for the transfer of the Equity Interest satisfactory to the Party A from the form to the substance.
6.1.3 If Party B fails to comply with its repayment obligations under this Agreement, late payment interest shall be assessed at the rate of 0.3% per day upon the outstanding amount of the Loan and shall be payable from the Repayment Date until the date on which the total amount of the overdue loan, overdue interest and other monies payable to Party A are fully settled.
Repayment of Loan. 3.1. The Parties herein agree and confirm that Party B or their successors or assignees have to repay the loan only by the following methods: transfer all equity interest in Domestic Company to Party A in compliance with PRC laws and use the proceeds to repay the loan when the loan is due and Party A gives a written notice.
3.2. Without the written consent made by Party A, Party B shall not repay such loan partially or in full.
3.3. Based on the Clause 3.1, all parties herein agree and confirm that, according to the PRC laws, Party A or its designated person (including natural person, legal entity or any other entity) has the right, but not the obligation, to purchase all or part of the equity interest held by Party B in Domestic Company (the “Option”) at anytime, however, Party A shall notify Party B of such purchase of equity interests with a written notice. Once the written notice for exercising the Option is issued by Party A, Party B shall sell his all or part of equity interests of Domestic Company upon Party A’s request and instructions (including the equity interest obtained by any methods after such notice date) with the original invest price (the “Original Investment Price”, means RMB 70,000 for each 1% of equity interests) or price otherwise stipulated by laws according to the consent of Party A to Party A or its designated person. All parties agree and confirm that when Party A exercises the Option, the price that allowed by the applicable law at the time is higher than the Original Investment Price, Party A shall purchase the equity interests at the lowest price in accordance with the applicable law; if the lowest price is higher than the Original Investment Price, Party B shall reimburse the exceeding amount to Party A pursuant to Article 4 of this Agreement. All parties agree to execute the Purchase Agreement in connection with above matters.
3.4. The Parties agree to complete the registration for changing the shareholder at relevant administration for industry and commerce authorities; and the equity transfer abovementioned shall be considered as complete after Party A or its designated person is registered as legal owner of target equity interests.
Repayment of Loan. The Borrower shall repay the Loan pursuant to the terms of the Note issued to the Department.
Repayment of Loan. 1. A loan recipient who remains in the employment of Bremen Public Schools shall repay the BANK the borrowed days at the minimum rate of three (3) days per school year until the loan is repaid. The minimum of three (3) days shall be transferred to the BANK at the beginning of each school year. At the member’s option, an additional loan payment may be made at the end of the year in an amount up to one-half (1/2) of the member’s accumulated sick leave.
2. A loan recipient who leaves the Bremen Public Schools with the loan unpaid must transfer all accumulated sick leave, up to the amount of the unpaid loan, to the BANK before being credited with sick leave, which may be transferred to another corporation. Should such employee return to employment with Bremen Public Schools, any remaining loan balance must be repaid as specified in number 1 above.
3. A loan recipient who retires or becomes totally disabled shall be exempt from repayment of any outstanding loan balance.
Repayment of Loan. 4.1 The Borrower must repay the loan at the maturity date specified in 1.4 herein and according to the following schedule; if the maturity date in the "Loan Certificate" is inconsistent with that specified herein, the record in the "Loan Certificate" shall prevail: Date of Repayment Amount Withdrawn 7th day of May, 2013; Ten Million (amount in Capital Letters ) ___ day ___ month ___ Year; _______________ (amount in Capital Letters ) ___ day ___ month ___ Year; _______________ (amount in Capital Letters ) ___ day ___ month ___ Year; _______________ (amount in Capital Letters )
4.2 Borrower shall not repay the Loan prior to the scheduled date without having a written consent from Lender.
4.3 Borrower assigns the following accounts:
(1) Repayment Account: Account Title: Fuwei Films (Shandong) Co., Ltd. Account Number: 377005086018000163911 Beneficiary Bank: High-Tech Development Region Sub-Branch, Bank of Communications Weifang Branch
(2) Account for Capital Return: Account Title: Fuwei Films (Shandong) Co., Ltd. Account Number: 377005086018000163911 Beneficiary Bank: High-Tech Development Region Sub-Branch, Bank of Communications Weifang Branch
Repayment of Loan. Borrower shall repay the entire outstanding principal amount of, and all accrued but unpaid interest on, the Loan on the Maturity Date.
Repayment of Loan. The Company will repay the loan of the Bond proceeds by making the payments required by Article VI hereof.
Repayment of Loan. 5.1 The borrower should make the repayment according to the date and amount specified in the corresponding Application for Use of Line of Credit.
Repayment of Loan a. The recipient who remains in the employment of the School Corporation shall repay the Bank the borrowed days at the rate of at least three (3) days per year until the loan has been repaid. A teacher and his/her spouse who is also a teacher may elect to have this repayment made by the teaching spouse rather than the teacher who is obligated to repay. In order to elect this spousal repayment option, both the teacher and the teaching spouse must sign a letter and submit it to the Business Office. This election may be for one, some or all of the repayments. Such an election may be modified or rescinded by submitting a jointly signed letter to the Business Office. Such an election, modification, or rescission will be effective for the school year for which a jointly signed letter is on file by the first day of the teaching year.
b. A recipient who leaves the School Corporation and still owes days to the Leave Bank must transfer accumulated sick leave and personal business leave days to the Bank as payment toward the loan.
c. Any days not recovered by the Leave Bank in items a or b above shall be absorbed by the Bank upon termination of the individual’s employment.
