RMB Equivalent definition

RMB Equivalent means the currency conversion of US$ into RMB at a rate of exchange to be agreed in the Definitive Debt Document and notified to the Company promptly upon completion of the conversion.

RMB Equivalent means, in relation to an amount not in RMB, such amount in RMB calculated at the USD to RMB mid-point daily exchange rate published by the People’s Bank of China on the date of drawdown of the Onshore Loan.

RMB Equivalent means currency conversion of US$ into RMB at a rate of exchange to be agreed in the Definitive Debt Document by reference to the seven-days’ forward rate of exchange for purchasing US$ with RMB as displayed on page “OTC CNH outright” of the Bloomberg screen or page CNYFWDVIEWIDX01 of the Thomas Reuters screen and notified to the Company at least thirty (30) days prior to the Closing Date.

Examples of RMB Equivalent in a sentence

• However, if, after the issuance of the audited Financial Statements of the next Fiscal Year and each Fiscal Year thereafter of Qoros Automotive (which should not occur before the first quarter of 2017), (i) the Pledgor is required by the 1.2 billion RMB loan equity pledge contract (which means the Equity Pledge Contract for 1.2 Billion RMB Equivalent Syndicated Loan (the “Syndicated Loan”) concerning Project of Research and Development of C Platform Derivative Model of Qoros Automotive Co., Ltd.

• Seller Consideration RMB Equivalent amount of HK$ (Approx.) I Supplier I 8,836,000 10,774,296 II Supplier I 2,286,000 2,787,465 III Supplier II 29,929,100 36,494,452 Total 41,051,100 50,056,213 Purchase Agreements was determined after arm’s length negotiations between the Company and the relevant Suppliers with reference to the brand, the model and the market price of the relevant Direct Lease Assets.

• Direct Lease Assets Seller Consideration RMB (Equivalent amount of HK$) (Approx.) IA Supplier IA 1,400,000 1,606,426 IB Supplier IB 8,849,120 10,153,896 II Supplier IA 1,750,000 2,008,031 III Supplier IA 2,800,000 3,212,851 Total 14,799,120 16,981,205 The Consideration was determined after arm’s length negotiations between the Company and the relevant Supplier with reference to the brand, the model and the market price of the relevant Direct Lease Assets.

• We hereby notify you that, pursuant to the Loan Agreement, we intend to borrow an Advance upon the terms and subject to the conditions contained in the Loan Agreement in an amount of RMB Equivalent of the Issue Proceeds as of the Date of Determination.

• The Current RMB Equivalent is the Initial RMB Equivalent minus the aggregate of any prepayments or repayments each of which will have been paid inU.S. dollars and given a notional RMB value, based on the Spot Rate at the time of prepayment or repayment (the “Current RMB Equivalent”).

More Definitions of RMB Equivalent

RMB Equivalent means, with respect to any monetary amount in a currency other than RMB, at any time for the determination thereof, the amount of RMB obtained by converting such foreign currency involved in such computation into RMB at the base rate for the purchase of RMB with the applicable foreign currency as quoted by The People’s Bank of China on the date of determination.

RMB Equivalent in relation to a sum in USD, means the sum in RMB to which

RMB Equivalent in respect of a sum in HK$, means the amount in RMB into

RMB Equivalent means, with respect to any monetary amount in a currency other than RMB, at any time for the determination thereof, the amount of RMB obtained by converting such foreign currency involved in such computation into RMB at the base rate for the purchase of RMB with the applicable foreign currency as quoted by The People’s Bank of China on the Date of Determination;

RMB Equivalent the RMB equivalent of an HK$ amount determined with reference to the mid-point of the exchange rate as published by the People’s Bank of China (中國銀行) on the relevant payment date; “Sale Loan” being HK$80 million, representing 50% of the shareholders’ loan (subject to adjustments) due and owing by Champion Delight to SPG Management;

RMB Equivalent has the meaning ascribed to it in the Xi’an Loan Agreement;

RMB Equivalent means, in respect of a US Dollar amount, the equivalent amount thereof in RMB calculated at the mid-rate of RMB to US Dollars announced by the People’s Bank of China on the date of determination (or, if no such rate is announced on such date, calculated at the rate quoted by the Lender for the purchase of US Dollars with RMB on the date for determination);