Common use of Type of Factoring Clause in Contracts

Type of Factoring. No recourse right is attached. If the Lessee under the Finance Lease Agreement fails to fully pay the Lease Receivables within the agreed timeframe due to credit issues, the Factoring Bank has no recourse for a claim against the Company in respect of the outstanding payment. Pursuant to the Factoring Agreement, the Company has agreed to transfer the creditor’s rights and relevant rights of the undue Lease Receivables under the Finance Lease Agreement to the Factoring Bank, with the total transfer principal of Lease Receivables of RMB823,600,000. The Factoring Bank has agreed to receive such creditor’s rights and relevant rights of the Lease Receivables and provide lease factoring services to the Company. The Company does not separately calculate the profits before and after tax of such Lease Receivables.

Type of Factoring. No recourse right is attached. If the Lessee Lessees under the Finance Lease Agreement fails Agreements fail to fully pay the Lease Receivables within the agreed timeframe due to credit issues, the Factoring Bank has no recourse for a claim against the Company in respect of the outstanding payment. Pursuant to the Factoring Agreement, the Company has agreed to transfer the creditor’s rights and relevant rights of the undue Lease Receivables under the Finance Lease Agreement Agreements to the Factoring Bank, with the total transfer principal of Lease Receivables of RMB823,600,000RMB584,089,279.29. The Factoring Bank has agreed to receive such creditor’s rights and relevant rights of the Lease Receivables and provide lease factoring services to the Company. The Company does not separately calculate the profits before and after tax of such Lease Receivables.

Type of Factoring. No recourse right is attached. If the Lessee under the Finance Lease Agreement fails to fully pay the Lease Receivables within the agreed timeframe due to credit issues, the Factoring Bank has no recourse for a claim against the Company in respect of the outstanding payment. Pursuant to the Factoring Agreement, the Company has agreed to transfer the creditor’s rights and relevant rights of the undue Lease Receivables under the Finance Lease Agreement to the Factoring Bank, with the total transfer principal of Lease Receivables of RMB823,600,000RMB2,000,000,000. The Factoring Bank has agreed to receive such creditor’s rights and relevant rights of the Lease Receivables and provide lease factoring services to the Company. The Company does not separately calculate the profits before and after tax of such Lease Receivables.

Type of Factoring. No recourse right is attached. If the Lessee under the Finance Lease Agreement fails to fully pay the Lease Receivables within the agreed timeframe due to credit issues, the Factoring Bank has no recourse for a claim against the Company in respect of the outstanding payment. Pursuant to the Factoring Agreement, the Company has agreed to transfer the creditor’s rights and relevant rights of the undue Lease Receivables under the Finance Lease Agreement to the Factoring Bank, with the total transfer principal transferred of the Lease Receivables of RMB823,600,000RMB749,276,491.17. The Factoring Bank has agreed to receive such creditor’s rights and relevant rights of the Lease Receivables and provide lease factoring services to the Company. The Company does not separately calculate the profits before and after tax of such Lease Receivables.

Type of Factoring. No recourse right is attached. If the Lessee under the Finance Lease Agreement fails to fully pay the Lease Receivables within the agreed timeframe due to credit issues, the Factoring Bank has no recourse for a claim against the Company in respect of the outstanding payment. Pursuant to the Factoring Agreement, the Company has agreed to transfer the creditor’s rights and relevant rights of the undue Lease Receivables under the Finance Lease Agreement to the Factoring Bank, with the total transfer principal of Lease Receivables of RMB823,600,000RMB730,000,000. The Factoring Bank has agreed to receive such creditor’s rights and relevant rights of the Lease Receivables and provide lease factoring services to the Company. The Company does not separately calculate the profits before and after tax of such Lease Receivables.