Common use of Grant of the Loan Clause in Contracts

Grant of the Loan. (a) Subject to Article 6.2 of this Agreement, the Company hereby undertakes to grant a loan in an aggregate amount of no more than the USD equivalent to RMB 3,200,000 (the “Loan”) to the Subscriber. The Company will grant the Loan to the Subscriber within three business days (“Funding Date”) after the Tranche A Completion Date. On the Funding Date, the Subscriber shall issue a receipt to the Company evidencing that it has fully received the Loan. (b) The Loan shall be granted to the Subscriber in USD. The exchange rate between USD and RMB shall be the exchange rate published by the People’s Bank of China on the Tranche A Completion Date. The Company shall pay the Loan to the overseas account of the Subscriber. (c) The Loan shall be matured and repaid in full with the interests accrued by the Subscriber to the Company on the Tranche B Completion Date (“Repayment Date”). (d) Interest shall accrue on the outstanding balance of the Loan commencing from the Funding Date at an annual rate of 5% calculated on a basis of a year of three hundred sixty five (365) days. (e) If the amount of the Tranche B Cash Payment is equivalent to or more than the Loan (including the accrued interest), the Company shall have the right to offset the Tranche B Cash Payment with the Loan. In such case, the Subscriber is not obliged to repay the Loan and the Loan shall be deemed as fully repaid. (f) If the Tranche B Cash Payment is less than the Loan (including accrued interest), the Company shall have the right to offset the Tranche B Cash Payment with the Loan and the shortfall of the Loan shall be fully repaid by the Subscriber on the Repayment Date.

Grant of the Loan. (a) Subject to Article 6.2 Section 6.3 of this Agreement, the Company hereby undertakes to grant a loan in an aggregate amount of no more than the USD equivalent to RMB 3,200,000 RMB18,000,000 (the “Loan”) to the SubscriberSubscribers. The Subscribers hereby confirm that the Company will grant has already funded the Loan Subscribers an aggregate amount of RMB8,000,000 on the date hereof in connection with the Equity Transfer Agreement. The remaining RMB10,000,000 shall be funded by procuring Yinnuowei to forgive Yinnuowei’s existing loan to the Subscriber within three business days (“Funding Date”) after the Tranche A Completion DateSubscribers in an aggregate amount of RMB10,000,000. On the Funding Date, the Subscriber The Subscribers shall issue a receipt to the Company evidencing that it has they have fully received the Loan. (b) The Loan shall be granted to the Subscriber in USD. The exchange rate between USD and RMB shall be the exchange rate published by the People’s Bank of China on the Tranche A Completion Date. The Company shall pay the Loan to the overseas account of the Subscriber. (c) The Loan shall be matured and repaid in full with the interests accrued by the Subscriber Subscribers to the Company on at the Tranche B Completion Date (“Repayment Date”). (dc) Interest shall accrue on the outstanding balance of the Loan commencing from the Funding Date at an the annual rate of 5% calculated on a basis of a year of three hundred sixty five (365) days. (ed) If the amount of the Tranche B Cash Payment is equivalent to or more than the Loan (including the accrued interest), the Company shall have the right to offset the Tranche B Cash Payment with the Loan. In such case, the Subscriber is Subscribers are not obliged to repay the Loan and the Loan shall be deemed as fully repaid. (fe) If the Tranche B Cash Payment is less than the Loan (including the accrued interest), the Company shall have the right to offset the Tranche B Cash Payment with the Loan and the shortfall of the Loan shall be fully repaid by the Subscriber Subscribers on the Repayment Date.