THE FACTORING AGREEMENT 2 WITH SHANGHAI Sample Clauses

THE FACTORING AGREEMENT 2 WITH SHANGHAI. HONGXUAN The principal terms of the Factoring Agreement 2 are set out as follows: Date of agreement: 28 November 2022 Parties: Dongrui Shanghai Hongxuan Financing term: From the date of this agreement to 27 November 2023 Transfer of accounts receivable: Subject to the terms and conditions of the Factoring Agreement 2, the creditor’s rights and relevant rights of the Accounts Receivable 2 shall be transferred to Dongrui, with the transfer amount of the Accounts Receivable 2 of RMB41,315,868.49 (equivalent to approximately HK$45.4 million). Consideration: Dongrui has agreed to pay Shanghai Hongxuan a consideration of RMB36,900,000.00 (equivalent to approximately HK$40.6 million) for the transfer of all the Accounts Receivable 2 upon the execution of the Factoring Agreement 2. Interest rate: 12% per annum Type of factoring: The factoring is with recourse. Dongrui may demand Shanghai Hongxuan to repurchase all the outstanding Accounts Receivable 2 upon the end of the term, including but not limited to the principal amount of the outstanding Accounts Receivable 2, interest and other related expenses incurred by the outstanding accounts receivable. Repayment upon repurchase: Upon the exercise of repurchase right by Xxxxxxx, Shanghai Hongxuan shall repay principal with interest and other related expenses to be paid in a lump sum upon the end of the term.
Sample 1
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Related to THE FACTORING AGREEMENT 2 WITH SHANGHAI

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