Common use of Type of Factoring Clause in Contracts

Type of Factoring. The recourse right is attached. If any lessees to the Finance Lease Agreement VIII, the Finance Lease Agreement IX, the Finance Lease Agreement X and the Finance Lease Agreement XI fails to fully settle any undue amount from the Lease Receivables VIII (i.e. RMB45,035,148), the Lease Receivables IX (i.e. RMB43,000,498), the Lease Receivables X (i.e. RMB48,280,357.67) and the Lease Receivables XI (i.e. RMB28,319,848) within the agreed time limit, the Factoring Bank has recourse for a claim against the Company in respect of the outstanding payment. Pursuant to the Factoring Agreement IV, for obtaining the factoring facility of approximately RMB69,374,537.8 from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables VIII (i.e. RMB45,035,148) and the Lease Receivables IX (i.e. RMB43,000,498) and the Factoring Bank has agreed to provide the relevant factoring facility to the Company. The relevant factoring facility shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables VIII (i.e. RMB45,035,148) and the Lease Receivables IX (i.e. RMB43,000,498). The Company does not separately calculate the profit before and after tax of the Lease Receivables VIII and the Lease Receivables IX. Pursuant to the Factoring Agreement V, for obtaining the Funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables X (i.e. RMB48,280,357.67) and the Factoring Bank has agreed to provide the Funds to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables X (i.e. RMB48,280,357.67). The Company does not separately calculate the profit before and after tax of the Lease Receivable X. Pursuant to the Factoring Agreement VI, for obtaining the Funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables XI (i.e. RMB28,319,848) and the Factoring Bank has agreed to provide the Funds to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables XI (i.e. RMB28,319,848). The Company does not separately calculate the profit before and after tax of the Lease Receivable XI. The charge for factoring services pursuant to the Factoring Agreement IV amounted to approximately RMB503,870.37. The interest rate applicable to the factoring facilities is 4.00%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 15 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables VIII and the Lease Receivables IX by the lessees under the Finance Lease Agreement VIII and the Finance Lease Agreement IX and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date. The charge for factoring services pursuant to the Factoring Agreement V amounted to approximately 0.65%. The interest rate applicable to the factoring facilities is 4.00%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 30 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables X by the lessees under the Finance Lease Agreement X and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date. The charge for factoring services pursuant to the Factoring Agreement VI amounted to RMB0. The interest rate applicable to the factoring facilities is 4.65%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 30 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables XI by the lessees under the Finance Lease Agreement XI and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date.

Type of Factoring. The recourse right is attached. If any lessees to the Finance Lease Agreement VIII, the Finance Lease Agreement IX, the Finance Lease Agreement X I and the Finance Lease Agreement XI II fails to fully settle any undue amount from the Lease Receivables VIII I (i.e. RMB45,035,148), the Lease Receivables IX (i.e. RMB43,000,498), the Lease Receivables X (i.e. RMB48,280,357.67RMB66,139,642) and the Lease Receivables XI II (i.e. RMB28,319,848RMB66,138,192) within the agreed time limit, the Factoring Bank has recourse for a claim against the Company in respect of the outstanding payment. Pursuant to the Factoring Agreement IVI, for obtaining the factoring facility of approximately RMB69,374,537.8 funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables VIII I (i.e. RMB45,035,148) and the Lease Receivables IX (i.e. RMB43,000,498RMB66,139,642) and the Factoring Bank has agreed to provide the relevant factoring facility to the Company. The relevant factoring facility Funds shall be payable by the Factoring Bank to the Company within 1 day 3 days from the date of transfer of the undue sums of the Lease Receivables VIII I (i.e. RMB45,035,148) and the Lease Receivables IX (i.e. RMB43,000,498RMB66,139,642). The Company does not separately calculate the profit before and after tax of the Lease Receivables VIII and the Lease Receivables IX. I. Pursuant to the Factoring Agreement VII, for obtaining the Funds funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables X II (i.e. RMB48,280,357.67RMB66,138,192) and the Factoring Bank has agreed to provide the Funds relevant factoring facility to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day 3 days from the date of transfer of the undue sums of the Lease Receivables X II (i.e. RMB48,280,357.67RMB66,138,192). The Company does not separately calculate the profit before and after tax of the Lease Receivable X. Pursuant to the Factoring Agreement VI, for obtaining the Funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables XI (i.e. RMB28,319,848) and the Factoring Bank has agreed to provide the Funds to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables XI (i.e. RMB28,319,848). The Company does not separately calculate the profit before and after tax of the Lease Receivable XI. The charge for factoring services pursuant to the Factoring Agreement IV amounted to approximately RMB503,870.37. The interest rate applicable to the factoring facilities is 4.00%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 15 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables VIII and the Lease Receivables IX by the lessees under the Finance Lease Agreement VIII and the Finance Lease Agreement IX and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date. The charge for factoring services pursuant to the Factoring Agreement V amounted to approximately 0.65%. The interest rate applicable to the factoring facilities is 4.00%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 30 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables X by the lessees under the Finance Lease Agreement X and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date. The charge for factoring services pursuant to the Factoring Agreement VI amounted to RMB0. The interest rate applicable to the factoring facilities is 4.65%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 30 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables XI by the lessees under the Finance Lease Agreement XI and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment dateII.

Type of Factoring. The recourse right is attached. If any lessees to the Finance Lease Agreement VIII, the Finance Lease Agreement IX, IX and the Finance Lease Agreement X and the Finance Lease Agreement XI fails to fully settle any undue amount from the Lease Receivables VIII (i.e. RMB45,035,148), the Lease Receivables IX (i.e. RMB43,000,498), ) and the Lease Receivables X (i.e. RMB48,280,357.67) and the Lease Receivables XI (i.e. RMB28,319,848) within the agreed time limit, the Factoring Bank has recourse for a claim against the Company in respect of the outstanding payment. Pursuant to the Factoring Agreement IV, for obtaining the factoring facility of approximately RMB69,374,537.8 from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables VIII (i.e. RMB45,035,148) and the Lease Receivables IX (i.e. RMB43,000,498) and the Factoring Bank has agreed to provide the relevant factoring facility to the Company. The relevant factoring facility shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables VIII (i.e. RMB45,035,148) and the Lease Receivables IX (i.e. RMB43,000,498). The Company does not separately calculate the profit before and after tax of the Lease Receivables VIII and the Lease Receivables IX. Pursuant to the Factoring Agreement V, for obtaining the Funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables X (i.e. RMB48,280,357.67) and the Factoring Bank has agreed to provide the Funds to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables X (i.e. RMB48,280,357.67). The Company does not separately calculate the profit before and after tax of the Lease Receivable X. Pursuant to the Factoring Agreement VI, for obtaining the Funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables XI (i.e. RMB28,319,848) and the Factoring Bank has agreed to provide the Funds to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables XI (i.e. RMB28,319,848). The Company does not separately calculate the profit before and after tax of the Lease Receivable XI. The charge for factoring services pursuant to the Factoring Agreement IV amounted to approximately RMB503,870.37. The interest rate applicable to the factoring facilities is 4.00%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 15 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables VIII and the Lease Receivables IX by the lessees under the Finance Lease Agreement VIII and the Finance Lease Agreement IX and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date. The charge for factoring services pursuant to the Factoring Agreement V amounted to approximately 0.65%. The interest rate applicable to the factoring facilities is 4.00%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 30 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables X by the lessees under the Finance Lease Agreement X and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date. The charge for factoring services pursuant to the Factoring Agreement VI amounted to RMB0. The interest rate applicable to the factoring facilities is 4.65%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 30 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables XI by the lessees under the Finance Lease Agreement XI and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date.

Type of Factoring. The recourse right is attached. If any lessees to the Finance Lease Agreement VIIII, the Finance Lease Agreement IX, the Finance Lease Agreement X II and the Finance Lease Agreement XI III fails to fully settle any undue amount from the Lease Receivables VIII I (i.e. RMB45,035,148RMB30,052,627), the Lease Receivables IX II (i.e. RMB43,000,498), the Lease Receivables X (i.e. RMB48,280,357.67RMB12,781,738) and the Lease Receivables XI III (i.e. RMB28,319,848RMB14,791,739) within the agreed time limit, the Factoring Bank has recourse for a claim against the Company in respect of the outstanding payment. Pursuant to the Factoring Agreement IVI, for obtaining the factoring facility of approximately RMB69,374,537.8 funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables VIII I (i.e. RMB45,035,148) and the Lease Receivables IX (i.e. RMB43,000,498RMB30,052,627) and the Factoring Bank has agreed to provide the relevant factoring facility to the Company. The relevant factoring facility Funds shall be payable by the Factoring Bank to the Company within 1 day 3 days from the date of transfer of the undue sums of the Lease Receivables VIII (i.e. RMB45,035,148) and the Lease Receivables IX I (i.e. RMB43,000,498RMB30,052,627). The Company does not separately calculate the profit before and after tax of the Lease Receivables VIII and the Lease Receivables IX. I. Pursuant to the Factoring Agreement VII, for obtaining the Funds funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables X II (i.e. RMB48,280,357.67RMB12,781,738) and the Factoring Bank has agreed to provide the Funds relevant factoring facility to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day 3 days from the date of transfer of the undue sums of the Lease Receivables X II (i.e. RMB48,280,357.67RMB12,781,738). The Company does not separately calculate the profit before and after tax of the Lease Receivable X. Receivables II. Pursuant to the Factoring Agreement VIIII, for obtaining the Funds funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables XI III (i.e. RMB28,319,848RMB14,791,739) and the Factoring Bank has agreed to provide the Funds relevant factoring facility to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day 3 days from the date of transfer of the undue sums of the Lease Receivables XI III (i.e. RMB28,319,848RMB14,791,739). The Company does not separately calculate the profit before and after tax of the Lease Receivable XI. The charge for factoring services pursuant to the Factoring Agreement IV amounted to approximately RMB503,870.37. The interest rate applicable to the factoring facilities is 4.00%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 15 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables VIII and the Lease Receivables IX by the lessees under the Finance Lease Agreement VIII and the Finance Lease Agreement IX and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date. The charge for factoring services pursuant to the Factoring Agreement V amounted to approximately 0.65%. The interest rate applicable to the factoring facilities is 4.00%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 30 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables X by the lessees under the Finance Lease Agreement X and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date. The charge for factoring services pursuant to the Factoring Agreement VI amounted to RMB0. The interest rate applicable to the factoring facilities is 4.65%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 30 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables XI by the lessees under the Finance Lease Agreement XI and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment dateIII.

Type of Factoring. The recourse right is attached. If any lessees to the Finance Lease Agreement VIIII, the Finance Lease Agreement IX, the Finance Lease Agreement X II and the Finance Lease Agreement XI III fails to fully settle any undue amount from the Lease Receivables VIII I (i.e. RMB45,035,148RMB14,583,477), the Lease Receivables IX II (i.e. RMB43,000,498), the Lease Receivables X (i.e. RMB48,280,357.67RMB11,182,550) and the Lease Receivables XI III (i.e. RMB28,319,848RMB39,972,778) within the agreed time limit, the Factoring Bank has recourse for a claim against the Company in respect of the outstanding payment. Pursuant to the Factoring Agreement IV, for obtaining the factoring facility of approximately RMB69,374,537.8 from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables VIII (i.e. RMB45,035,148) and the Lease Receivables IX (i.e. RMB43,000,498) and the Factoring Bank has agreed to provide the relevant factoring facility to the Company. The relevant factoring facility shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables VIII (i.e. RMB45,035,148) and the Lease Receivables IX (i.e. RMB43,000,498). The Company does not separately calculate the profit before and after tax of the Lease Receivables VIII and the Lease Receivables IX. Pursuant to the Factoring Agreement VAgreement, for obtaining the Funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables X I (i.e. RMB48,280,357.67RMB14,583,477), the Lease Receivables II (i.e. RMB11,182,550) and the Lease Receivables III (i.e. RMB39,972,778) and the Factoring Bank has agreed to provide the Funds to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables X I (i.e. RMB48,280,357.67RMB47,220,933). The Company does not separately calculate the profit before and after tax of the Lease Receivable X. Pursuant to the Factoring Agreement VIReceivables I, for obtaining the Funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables XI (i.e. RMB28,319,848) and the Factoring Bank has agreed to provide the Funds to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables XI (i.e. RMB28,319,848). The Company does not separately calculate the profit before and after tax of the Lease Receivable XI. The charge for factoring services pursuant to the Factoring Agreement IV amounted to approximately RMB503,870.37. The interest rate applicable to the factoring facilities is 4.00%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 15 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables VIII II and the Lease Receivables IX by the lessees under the Finance Lease Agreement VIII and the Finance Lease Agreement IX and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date. The charge for factoring services pursuant to the Factoring Agreement V amounted to approximately 0.65%. The interest rate applicable to the factoring facilities is 4.00%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 30 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables X by the lessees under the Finance Lease Agreement X and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date. The charge for factoring services pursuant to the Factoring Agreement VI amounted to RMB0. The interest rate applicable to the factoring facilities is 4.65%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 30 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables XI by the lessees under the Finance Lease Agreement XI and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment dateIII.