Supplemental Agreement to the Loan Agreement
Exhibit 4.44
Supplemental Agreement to the Loan Agreement
This Supplemental Agreement to the Loan Agreement (hereinafter referred to as this “Supplemental Agreement”) is executed on January 17, 2017 by the Parties below in the People’s Republic of China (hereinafter referred to as “PRC”) in accordance with applicable PRC laws, regulations, and rules:
Borrower: iKang Healthcare Technology Group Co. Ltd. (hereinafter referred to as the “Borrower”)
Lender: AVIC Trust Co., Ltd. (hereinafter referred to as the “Lender”)
WHEREAS the Borrower and the Lender (individually referred to as a “Party” and collectively as the “Parties”) executed a loan agreement numbered “AVICTC2015G0104-1” (the “Original Loan Agreement”) on December 9, 2015 in connection with the Borrower’s requesting for a loan from the Lender and debt-for-equity swap; and
WHEREAS the Parties mutually agree to clarify, supplement, and amend the related arrangements of the Original Loan Agreement.
NOW, THEREFORE, the Parties, through full discussion and consultation, mutually agree as follows:
I. The Borrower shall repay RMB one hundred million yuan to the Lender before January 27, 2017 (“Repayment Made in January 2017”) and the interest will be calculated at the simple interest rate of 8% per annum;
II. The Lender agrees that the loan amount of no less than RMB two hundred million yuan of the original loan amount will be fully converted into the shares (“Repayment by Debt-for-equity Swap”) in iKang Healthcare Group Inc. (Cayman Island) upon privatization in accordance with the provisions of applicable laws. The Borrower shall repay the outstanding amount of the original loan amount deducting the Repayment Made in January 2017 and the Repayment by Debt-for-equity Swap, and the interest will be calculated at the simple interest rate of 10% per annum;
III. Where the Lender cannot exercise the right of debt-for-equity swap because of restrictions of laws and regulations (including but not limited to those on securities, foreign investments, foreign exchange administration, etc.) or because the buyer consortium refuses to accept the right of debt-for-equity swap, the Borrower shall repay the loan of RMB four hundred million yuan in full amount with interest at the simple interest rate of 10% upon completion of privatization;
IV. Both Parties further agree that, where the privatization ceases, the Lender has the right to require that the Borrower repay the original loan in full amount on the maturity date of December 31, 2017, and the interest will be calculated at the simple interest rate of 8% per annum;
V. The other provisions of the Original Loan Agreement remain unchanged;
VI. This Supplemental Agreement will take effect upon the date of execution by the Parties.
Borrower: iKang Healthcare Technology Group Co., Ltd. (Seal)
Authorized Representative: |
/s/ Xxx Xxxxxx Zhang |
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Lender: AVIC Trust Co., Ltd. (Seal)
Authorized Representative: |
/s/ Yao Jiangtao |
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