Short-Term Loans. AWCC will provide Short-Term Loans to the Company pursuant to the terms set forth in the promissory notes to be issued by the Company to AWCC, each substantially in the form attached to this Agreement as Exhibit A.
Short-Term Loans. The Company has incurred the debt primarily to support construction of its new infrastructure and manufacturing capacity at BAK Industrial Park. The table below outlines these borrowings. Management believes that the maturities of these notes can be extended, and will be rolled into longer term facilities upon completion of construction. ----------------------------- ------------- ------------------- ---------------- Amount Institution ($mm) Interest Rate Maturity Date ----------------------------- ------------- ------------------- ---------------- China Agriculture Bank $ 2.42 4.59% 4/10/2005 ----------------------------- ------------- ------------------- ---------------- China Agriculture Bank $ 2.18 4.59% 4/8/2005 ----------------------------- ------------- ------------------- ---------------- China Agriculture Bank $ 1.82 4.54% 12/7/2004 ----------------------------- ------------- ------------------- ---------------- China Agriculture Bank $ 0.60 4.54% 11/28/2004 ----------------------------- ------------- ------------------- ---------------- China Agriculture Bank $ 1.21 4.54% 12/2/2004 ----------------------------- ------------- ------------------- ---------------- China Agriculture Bank $ 1.34 4.59% 3/29/2005 ----------------------------- ------------- ------------------- ---------------- China Agriculture Bank $ 2.54 4.59% 3/30/2005 ----------------------------- ------------- ------------------- ---------------- Shenzhen Development Bank $ 12.10 5.84% 4/1/2005 ----------------------------- ------------- ------------------- ---------------- Xingye Bank $ 2.42 5.31% 3/11/2005 ----------------------------- ------------- ------------------- ---------------- Mingsheng Bank $ 2.54 5.84% 1/14/2005 ----------------------------- ------------- ------------------- ---------------- Total $ 29.16 ----------------------------- ------------- ------------------- ---------------- Notes Payable. These are numerous smaller notes totaling $20.80 million at 9/30/04 and are from China Agriculture Bank and Shenzhen Development Bank. Income Statement ($) ------------------------------------------- ------------ ------------ ---------- Item FY 2004 FY 2003 FY 2002 ------------------------------------------- ------------ ------------ ---------- Revenues 64,088,286 20,266,590 3,050,158 ------------------------------------------- ------------ ------------ ---------- less: cost of goods sold 49,630,238 14,571,849 2,513,633 ------------------------------------------- -----------...
Short-Term Loans. Even though compensation is reduced by the hypothetical US income tax, it may be necessary for NTL DIGITAL US INC to withhold actual US or local taxes as applicable, and to remit these taxes to the proper US and local taxing authorities. In order to ease the expatriate's cash flow burden, the expatriate in such cases will receive a loan equal to the local and/or US taxes withheld, with the approval of NTL DIGITAL US INC. This loan will, to the extent possible, be remitted to the expatriate at the same time that the salary check is issued. The total loan will be settled in the following year at the time the Year-End US or local tax reconciliation is prepared.
Short-Term Loans. The Group borrowed short-term loans from several commercial banks in the PRC. As of December 31, 2010 and 2011, the short-term bank loans are analyzed as follows: Secured 61,243,510 83,343,510
(i) In April 2010, Reshuffle Shanghai entered into a facility loan agreement with a PRC commercial bank with the total facility of US$ 9 million in RMB equivalent borrowing. The facility could be drawn in a six-month period and the repayment term for each loan should not exceed one year. In March 2011, Reshuffle Shanghai renewed the facility loan agreement with the total facility of US$ 15 million in RMB equivalent borrowing with a term of 12 months. As of December 31, 2010 and 2011, the short-term loans under this facility are collateralized by the Company's bank deposit of US$ 10,000,000 (RMB 66,227,000) and US$ 7,360,777 (RMB 46,379,519), respectively. There is covenant associated with the facility loan agreement that during the facility period. As of December 31, 2011, the Company was in compliance with the covenant. As of December 31, 2011, the unused facility under the facility loan agreement was US$ 8.4 million. As of December 31, 2010 and 2011, the loan balance under the facility loan agreement are RMB 61,243,510 and RMB 41,800,000, respectively with the activities as follows, • In April 2010, the Group took a bank loan of RMB 30,700,000. The short-term bank loan bore an interest rate of 4.73% per annum with a repayment term of six months. The loan was repaid in October 2010.
Short-Term Loans. Short terms loans are defined as loans equal to or less than five days. Management may select the mechanics to loan for short term loans. Short term loans may be facility wide. Employees will not be placed on consecutive short term loans for more than ten (10) total days. The number of short term loans is restricted to 300 occurrences per year which will be jointly tracked by the Company and the Union. An occurrence shall be any day that one trade is loaned under this section by area.
Short-Term Loans. As at December 31, 2021 and 2020, this account consisted of: - Short - term loans to others 2,760 3,075 2,760 3,075 - Short - term loans to related parties 2,100 80 2,100 80 Total 4,860 3,075 4,860 3,075
Short-Term Loans. The Operating Company shall be permitted to borrow funds on a day-to-day basis from Network Funding on any business day (“Short- Term Loans”) up to the Maximum Principal Sum outlined in the Promissory Note between the Operating Company and Verizon Network Funding.
Short-Term Loans. Loans in NIS granted to the Borrower by the Bank pursuant to this Agreement. Subsidiary A subsidiary of a company or corporation means any company or corporation: (a) which is controlled, directly or indirectly, by the first-mentioned company or corporation; (b) at least half the issued share capital of which is beneficially owned, directly or indirectly, by the first-mentioned company or corporation; or (c) which is a subsidiary of another subsidiary of the first-mentioned company or corporation and, for these purposes, a company or corporation shall be treated as being controlled by another if that other company or corporation is able to direct its affairs and/or to control the composition of its board of directors or equivalent body. Tax All present and future income, value added and other taxes, levies, imposts, deductions, charges and withholdings in the nature of taxes whatsoever together with interest thereon and penalties with respect thereto, if any, and any payments made on or in respect thereof. Termination Date Three years from the Commencement Date. Total Debt The aggregate of the amounts from time to time of any indebtedness appearing in the Financial Statements in respect of: (a) moneys borrowed or debit balances at banks and other financial institutions; (b) any debenture, bond, note, loan stock or other security, including, and without derogating from the abovementioned, any bank guarantee issued to any third party per a request of the Borrower; (c) receivables sold or discounted (otherwise than on a non-recourse basis) to the extent only that any claim has been made against the Borrower with respect to such receivables; (d) the acquisition cost of any asset to the extent payable more than 365 days after the time of acquisition or possession by the party liable where the deferred payment is arranged primarily as a method of raising finance or financing the acquisition of that asset and
Short-Term Loans. Promissory Note issued by the Company to Ildi Hayman in the princxxxx xxxxxx of AUS$35,000; and
Short-Term Loans. Each Lender severally and not jointly agrees, on the terms and conditions set forth in this Paragraph and otherwise in this Agreement, to make the Short Term Loan, in Dollars, to the Borrower in an aggregate amount equal to such Lender’s Short Term Loan Commitment. The Short Term Loan shall be disbursed in a single draw on the Closing Date identified in the introductory paragraph of this Amendment No. 6 to Credit Agreement and coincident with the reduction of the maximum principal amount outstanding under the Alternative Line Loan from $15,000,000 to $5,000,000. The Short Term Loan will bear interest at the Prime Rate. Borrower shall pay a fee in the amount of $5,000.00 to Agent for the account of the Lenders ratably in accordance with their respective Short Term Loan Pro Rata Share.
