Interest Rate, Interest and Fees. 3.1 [Determination Method of RMB Loan Interest Rate] RMB loan interest rate shall be based on method 2 below: (1) Fixed rate, annual interest rate of [blank]% which remain unchanged throughout the tenure of the Loan. (2) Floating rate, the Loan interest rate shall be based on the base lending rate as published by the People’s Bank of China for loans with tenure similar to that stated in 2.2 of this Contract as of date of drawdown, plus a margin of 5%. From date of drawdown by the Borrower, the interest rate shall be reset at end of each period of 12 months, whereas interest shall be calculated in segment. The interest rate reset date for 2nd period shall be the corresponding date when first period is fall due. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period. In case of multiple drawdowns by the Borrower, the interest rate shall be reset using method A below: A. Regardless the number of drawdowns during a period, interest rate fixed for that period shall be implemented for those drawdowns and to be reset during the next period. B. Interest rate shall be set and reset for each drawdown. (3) Other: [blank]: 3.2 [Determination Method of Foreign Currency Loan Interest Rate] Foreign currency loan interest rate shall be based on method [blank] below: (1) Fixed rate, annual interest rate of [blank]% which remain unchanged throughout the tenure of the Loan. (2) Floating rate, the Loan interest rate shall be [blank] months [blank] (LIBOR/HIBOR) as base lending rate plus [blank] basis points (each basis point represents 0.01%). The spread shall remain fixed throughout the tenure of the Loan. In case of multiple drawdown, interest rate shall be determined individually for each drawdown. Subsequent to drawdown by the Borrower, the interest rate shall be calculated in segment and reset using method [blank] below: A. The base interest rate shall be floating based on its corresponding period. The interest rate reset date for the 2nd period shall be one day after when the first period fall due. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period. B. The base interest rate shall be reset on first day of each interest calculation period. (3) Other: [blank]: 3.3 The interest for the Loan under this Contract shall be calculated and settled on a monthly basis. Principal of the Loan shall be repaid together with any unpaid interest upon maturity. Daily interest rate shall be annual interest rate/360 days. 3.4 Penalty interest rate for any overdue payments of interest and the Loan under this Contract shall be 50% on top of the original interest rate applicable to the Loan at the time. Penalty interest rate for any misappropriation of the Loan under this Contract shall be 100% on top of the original interest rate applicable to the Loan at the time. 3.5 In addition to interest, the Borrower shall also pay to the Lender a commitment fee. The commitment fee payable by the Borrower to the Lender shall be calculated based on the difference between the Loan granted (as stipulated in clause 2) and the amount drawn down (average during the fee calculation cycle) multiply by a rate of [blank]% per annum and shall be paid under method 1 below: (1) Pay in full upon the expiry of the fee calculation cycle. (2) Upon the effectiveness of this Contract, payable by installments on the 20th day of each [blank] (month/quarter/year), until the expiry of fee calculation cycle. In case where the Loan under this Contract can be revolved, the fee calculation cycle refers to the period in which the Loan may be revolved. In case where the Loan under this Contract may not be revolved, the fee calculation cycle refers to period from date of this Contract to the date of the final drawdown of the Loan. In case where commitment fee is payable by installments and the Borrower fails to settle the commitment fee, the Lender has the right to stop or cancel the granting any unutilized portion of the Loan.
Appears in 1 contract
Sources: Working Capital Loan Contract (CHINA METRO-RURAL HOLDINGS LTD)
Interest Rate, Interest and Fees. 3.1 [Determination Method of RMB Loan Interest Rate] Rate The RMB loan interest rate adopted shall be based on method 2 Item ____ below:
(1) Fixed rate, annual A fixed interest rate with an annual rate of [blank]% which ____%. The rate shall remain unchanged constant throughout the tenure term of the Loanthis Agreement.
(2) Floating A floating interest rate, the Loan . The loan interest rate shall be based on the base benchmark interest rate plus the floating margin, where the benchmark interest rate shall be the benchmark lending interest rate as published stipulated by the People’s Bank of China on the drawdown date for loans of the corresponding grade with tenure similar to that stated the loan term as agreed in Clause 2.2 of this Contract as of date of drawdown, plus a and the floating margin of 5%shall be 10% above the benchmark rate. From date of drawdown by Upon the Borrower’s drawdown of the Loan, the interest rate shall be reset at end of adjusted every (1/ 3/ 6/ 12) month(s) (hereafter referred to as ‘Period’) and the loan interest for each period of 12 months, whereas interest Period shall be calculated in segmentbased on the loan interest rate as adjusted and applicable to the corresponding Period. The loan interest rate reset date for 2nd period applicable to each Period subsequent to the initial Period shall be determined on the corresponding same numerical date when first period is fall due. In case where in the month when the of interest rate adjustment as the drawdown date. If there is not the same numerical date in the month of interest rate adjustment as the drawdown date, the loan interest rate for that Period shall be reset does not contain a corresponding date to the drawdown, determined on the last day of that month shall be used as interest rate reset dateadjustment month. This method shall be applied throughout all subsequent period. In case of multiple drawdowns by Should the BorrowerBorrower draw down in tranches, the loan interest rate shall be reset using method adjusted in the way as described in Item A below:
A. Regardless of the number of drawdowns during made in a periodPeriod, the loan interest rate fixed for that period each drawdown shall be implemented for those drawdowns the loan interest rate applicable to that Period as determined on the interest rate determination date of that Period and to will be reset during adjusted simultaneously in the next periodfollowing Period.
B. Interest The interest rate for each drawdown shall be set determined and reset for each drawdownadjusted separately.
(3) OtherOthers: [blank]:________________
3.2 [Determination Method of Foreign Currency Loan Interest Rate] Foreign Rate The foreign currency loan interest rate adopted shall be based on method [blank] Item _____ below:
(1) Fixed rate, annual A fixed interest rate with an annual rate of [blank]% which ____%. The rate shall remain unchanged constant throughout the tenure term of the Loanthis Agreement.
(2) Floating A floating interest rate, the Loan . The loan interest rate shall be [blank] months [blank] the benchmark interest rate which is based on __________ (LIBOR/LIBOR/ HIBOR) as base lending rate for _____-month loans plus [blank] a margin equal to ____ basis points point(s) (each basis point represents i.e. 0.01%). The spread margin shall remain fixed constant throughout the tenure term of this Agreement. Upon the Borrower’s drawdown of the Loan. In case of multiple drawdown, interest the benchmark lending rate shall be determined individually adjusted in accordance with Item ____ below and the interest for each drawdown. Subsequent to drawdown by the Borrower, the interest rate Period shall be calculated in segment based on the loan interest rate as adjusted and reset using method [blank] belowapplicable to the corresponding Period:
A. The base benchmark interest rate for each Period shall be floating based on its adjusted in accordance with the benchmark interest rate applicable to the corresponding periodPeriod. The benchmark interest rate reset date for applicable to each Period subsequent to the 2nd period initial Period shall be one day after when determined on the first period fall due. In case where same numerical date in the month when of adjustment as the drawdown date. If there is not the same numerical date in the adjustment month as the drawdown date, the benchmark interest rate for that Period shall be reset does not contain a corresponding date to the drawdown, determined on the last day of that month shall be used as interest rate reset dateadjustment month. This method way of determining the benchmark rate adjustment date shall be applied throughout apply to all subsequent periodthe other periods.
B. The base interest benchmark lending rate shall be reset adjusted on the first day of each interest calculation period.
(3) OtherOthers: [blank]:__________________________
3.3 The interest for on the Loan under this Contract Agreement shall accrue from the actual drawdown date on a daily basis, and be settled every ___________ (month/quarter/half year). Upon maturity of the Loan, all outstanding interest shall be calculated and settled on a monthly basis. Principal of the Loan shall be repaid paid together with any unpaid interest upon maturitythe principal. Daily The daily interest rate shall be applicable annual interest rate/360 daysrate/360.
3.4 Penalty interest will be imposed in addition to the loan interest rate for hereunder at _____% on any overdue payments of amount (overdue penalty interest and the Loan under this Contract shall be 50rate) or at _____% on top of any amount that is used for purposes other than the original one set out in this Agreement (misappropriation penalty interest rate applicable to the Loan at the time. Penalty interest rate for any misappropriation of the Loan under this Contract shall be 100% on top of the original interest rate applicable to the Loan at the timerate).
3.5 In addition to the loan interest, the Borrower shall also pay to the Lender a commitment fee. The commitment fee payable by the Borrower to the Lender shall be calculated based at _____% per annum on the difference between the Loan granted (loan amount as stipulated in clause 2) Article 2 and the amount of loan actually drawn down (the average daily balance during the billing cycle). The commitment fee calculation cycle) multiply by a rate of [blank]% per annum and shall be paid under method 1 to the Lender in accordance with Item _____ below:
(1) Pay The commitment fee shall be paid in full upon one lump sum on the expiry of day when the fee calculation cyclebilling cycle ends.
(2) Upon After this Agreement has become effective, the effectiveness of this Contract, payable by installments commitment fee shall be paid in instalments on the 20th day of each [blank] ___________ (month/quarter/half year), ) until the expiry end of fee calculation the billing cycle. In case where the Loan under this Contract can be revolved, the fee calculation The billing cycle refers to the period of time between the day when this Agreement is signed and the day when the last drawdown is made as agreed in which the Loan may be revolvedArticle 4. In the case where the Loan under this Contract may not be revolved, the fee calculation cycle refers to period from date of this Contract to the date of the final drawdown of the Loan. In case where commitment fee is payable by installments and the Borrower fails to settle the commitment feepaid in instalments, the Lender has the right to stop disbursing the Loan or cancel the granting any unutilized portion all or part of the Loanamount of the Loan that has not yet been drawn by the Borrower if the Borrower fails to pay the commitment fee as scheduled.
Appears in 1 contract
Sources: Fixed Asset Loan Agreement (China Natural Resources Inc)
Interest Rate, Interest and Fees. 3.1 [Determination Method of RMB Loan Interest Rate] RMB loan interest rate shall be based on method 2 below:
(1) Fixed rate, annual interest rate of [blank]% which remain unchanged throughout the tenure of the Loan.
(2) Floating rate, the Loan interest rate shall be based on the base lending rate plus a margin, base lending rate being 6% per annum (as of date of drawdown/Contract) and base lending rate for loans with similar tenure as published by the People’s Bank of China for loans with tenure similar to that stated in 2.2 of this Contract as of date of drawdownChina, plus a margin of 5%. From date of drawdown by the Borrower, the interest rate shall be reset at end of each period of 12 months, whereas interest shall be calculated in segment. The interest rate reset date for 2nd period shall be the corresponding date when first period is fall due. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period. In case of multiple drawdowns by the Borrower, the interest rate shall be reset using method A below:
A. Regardless the number of drawdowns during a period, interest rate fixed for that period shall be implemented for those drawdowns and to be reset during the next period.
B. Interest rate shall be set and reset for each drawdown.
(3) Other: [blank]:
3.2 [Determination Method of Foreign Currency Loan Interest Rate] Rate Foreign currency loan interest rate shall be based on method [blank] below:
(1) Fixed rate, annual interest rate of [blank]% which remain unchanged throughout the tenure of the Loan.
(2) Floating rate, the Loan interest rate shall be [blank] months [blank] (LIBOR/HIBOR) as base lending rate plus [blank] basis points (each basis point represents 0.01%). The spread shall remain fixed throughout the tenure of the Loan. In case of multiple drawdown, interest rate shall be determined individually for each drawdown. Subsequent to drawdown by the Borrower, the interest rate shall be calculated in segment and reset using method [blank] below:
A. The base interest rate shall be floating based on its corresponding period. The interest rate reset date for the 2nd period shall be one day after when the first period fall due. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period.
B. The base interest rate shall be reset on first day of each interest calculation period.
(3) Other: [blank]:
3.3 The interest for the Loan under this Contract shall be calculated and settled on a monthly basis. Principal of the Loan shall be repaid together with any unpaid interest upon maturity. Daily interest rate shall be annual interest rate/360 days.
3.4 Penalty interest rate for any overdue payments of interest and the Loan under this Contract shall be 50% on top of the original interest rate applicable to the Loan at the time. Penalty interest rate for any misappropriation of the Loan under this Contract shall be 100% on top of the original interest rate applicable to the Loan at the time.
3.5 In addition to interest, the Borrower shall also pay to the Lender a commitment fee. The commitment fee payable by the Borrower to the Lender shall be calculated based on the difference between the Loan granted (as stipulated in clause 2) and the amount drawn down (average during the fee calculation cycle) multiply by a rate of [blank]% 0% per annum and shall be paid under method 1 below:
(1) Pay in full upon the expiry of the fee calculation cycle.
(2) Upon the effectiveness of this Contract, payable by installments on the 20th day of each [blank] (month/quarter/year), until the expiry of fee calculation cycle. In case where the Loan under this Contract can be revolved, the fee calculation cycle refers to the period in which the Loan may be revolved. In case where the Loan under this Contract may not be revolved, the fee calculation cycle refers to period from date of this Contract to the date of the final drawdown of the Loan. In case where commitment fee is payable by installments and the Borrower fails to settle the commitment fee, the Lender has the right to stop or cancel the granting any unutilized portion of the Loan.
Appears in 1 contract
Sources: Working Capital Loan Contract (CHINA METRO-RURAL HOLDINGS LTD)
Interest Rate, Interest and Fees. 3.1 [Determination Method of Interest Rate for RMB Loan Loans] Interest Rate] rate for RMB loan interest rate loans shall be based on method 2 determined in accordance with Item (3) below:
(1) Fixed rate, annual interest rate of [blank]% at __/__% per annum, which shall remain unchanged throughout within the tenure term of the Loanthis Contract.
(2) Floating rate, The borrowing rate is determined by the Loan benchmark interest rate plus the fluctuation range.
A. The interest rate shall be based executed on the base lending rate same day as published by the People’s Bank of China for loans with tenure similar to that stated in 2.2 of this Contract as of date of drawdown, plus a margin of 5%. From date of drawdown by the Borrower, the interest rate is determined at the same time, and shall be reset adjusted at end of each period of 12 months, whereas interest shall be calculated in segment. The interest rate reset date for 2nd period shall be the corresponding date when first period is fall due. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period. In case of multiple drawdowns by the Borrower, the interest rate shall be reset using method A below:
A. Regardless the number of drawdowns during a period, interest rate fixed for that period shall be implemented for those drawdowns and to be reset during the next periodsame time.
B. Interest The borrowing rate shall be set of each withdrawal is determined and reset for each drawdownadjusted.
(3) Other: [blank]The interest rate on each loan is determined by the benchmark interest rate plus a floating range, in which the benchmark interest rate is the LPR of the one-year loan issued by the national inter-bank lending center one day before the effective date of each loan contract, with the floating range plus 70.25 base point (a base point is 0.01%). The interest rate of each withdrawal is adjusted according to Item A :
A. Adjusted on a 12-month basis. Starting at the second adjustment, the Interest Rate Determination Day is 12 months from the date of withdrawal, and the Borrower shall adjust the interest rate one day before the Interest Rate Determination Day based on the benchmark interest rate plus a floating range issued by the national inter-bank lending center. If the Interest Rate Determination Day does not exist in a month of adjustment, the last of the month is the Interest Rate Determination Day. If the national inter-bank lending center does not announce the benchmark interest rate on the day before the Interest Rate Determination Day, the benchmark interest rate announced on the last work day shall prevail, and so forth.
B. Not adjustment throughout the loan term.
(4) Others:________________________/_______________________
3.2 [Determination Method of Interest Rate for Foreign Currency Loan Loans] Interest Rate] Foreign rate for foreign currency loan interest rate loans shall be based on method [blank] determined in accordance with Item / below:
(1) Fixed rate, annual interest rate of [blank]% at __/__% per annum, which shall remain unchanged throughout within the tenure term of the Loanthis Contract.
(2) Floating interest rate, the Loan . The loan interest rate shall be [blank] months [blank] / month / (LIBOR/HIBOR) as (the benchmark interest rate) plus a margin equal to / base lending rate plus [blank] basis points point(s) (each basis a base point represents is equal to 0.01%). The spread margin shall remain fixed throughout unchanged within the tenure term of this Contract. If the Loan. In case of multiple drawdownBorrower makes more than one withdrawal, the loan interest rate shall be determined individually for each drawdown. Subsequent to drawdown by the Borrower, the interest rate withdrawal shall be calculated separately. After the Borrower makes withdrawal, the benchmark interest rate will be adjusted in segment accordance with Item / below, and reset using method [blank] belowthe loan interest for each interest period shall be calculated according to the loan interest rate as adjusted and applicable to such interest period:
A. The base benchmark interest rate shall will be floating based on its corresponding periodadjusted in each interest period as applicable to such benchmark interest rate. The benchmark interest rate reset date for applicable to each interest period subsequent to the 2nd initial period shall be one day after when determined on the first period fall due. In case where same numerical date in the month when of such adjustment as the withdrawal date. If there is no same numerical date in the month of adjustment as the withdrawal date, the benchmark interest rate for such period shall be reset does not contain a corresponding date to the drawdown, determined on the last day of that such month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period.of adjustment;
B. The base benchmark interest rate for each interest period shall be reset adjusted on the first day of each such interest calculation period.
(3) Other: [blank]:Others:_________/________________________________________________________
3.3 The loan interest for hereunder shall accrue from the Loan under this Contract actual withdrawal date on monthly basis, and be settled every Month (month/quarter/half year). Upon maturity of the loan, all outstanding interest shall be calculated and settled on a monthly basis. Principal of the Loan shall be repaid paid together with any unpaid interest upon maturitythe principal. Daily The daily interest rate shall be applicable annual interest rate/360 days.
3.4 Penalty interest will be imposed in addition to the loan interest rate hereunder at 30 % on any overdue amount (overdue penalty interest rate), or at 50 % on any amount that is used for any overdue payments of purpose other than those set out hereunder (misappropriation penalty interest and the Loan under this Contract shall be 50% on top of the original interest rate applicable to the Loan at the time. Penalty interest rate for any misappropriation of the Loan under this Contract shall be 100% on top of the original interest rate applicable to the Loan at the timerate).
3.5 In addition to the loan interest, the Borrower shall also pay to the Lender a the commitment fee. The commitment fee payable by the Borrower to the Lender , which shall be calculated based on the difference between the Loan granted (as stipulated in clause 2) amount of the loan under Article 2 above and the amount drawn down for which the Borrower has made withdrawal (the daily average balance during the period for which such commitment fee calculation cycleis paid (the Fee Period) multiply multiplied by a rate of [blank]% __/___‰ per annum annum, and shall be paid under method 1 in accordance with Item _/___ below:.
(1) Pay the commitment fee shall be paid to the Lender in full one lump sum upon the expiry date of the fee calculation cycle.Fee Period;
(2) Upon the effectiveness of this Contract, payable by commitment fee shall be paid to the Lender in installments on the 20th day of / (each [blank] (month/the last month of each quarter/the last month of each half-year), from the effectiveness date of this Contract until the expiry expiration date of fee calculation cyclethe Fee Period. In The Fee Period means, in case where the Loan under this Contract can be revolvedof a revolving loan, the fee calculation cycle refers to period within which the revolving facility may be used, or in case of a non-revolving loan, the period in which from the Loan may be revolved. In case where the Loan under this Contract may not be revolved, the fee calculation cycle refers to period from date of this Contract to the date of the final drawdown of the Loan. In case where commitment fee is payable by installments and the Borrower fails to settle the commitment fee, the Lender has the right to stop or cancel the granting any unutilized portion of the Loanlast withdrawal as agreed under Article 4.
Appears in 1 contract
Sources: Working Capital Loan Contract (Newater Technology, Inc.)
Interest Rate, Interest and Fees. 3.1 [Determination Method of RMB Loan Interest Rate] Rate RMB loan interest rate shall be based on method 2 below:
(1) Fixed rate, annual interest rate of [blank]% which remain unchanged throughout the tenure of the Loan.
(2) Floating rate, the Loan interest rate shall be based on the base lending rate plus a margin, base lending rate being 6.15% per annum (as of date of drawdown/Contract) and base lending rate for loans with similar tenure as published by the People’s Bank of China for loans with tenure similar to that stated in 2.2 of this Contract as of date of drawdownChina, plus a margin of 510%. From date of drawdown by the Borrower, the interest rate shall be reset at end of each period of 12 months, whereas interest shall be calculated in segment. The interest rate reset date for 2nd period shall be the corresponding date when first period is fall due. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period. In case of multiple drawdowns by the Borrower, the interest rate shall be reset using method A B below:
A. Regardless the number of drawdowns during a period, interest rate fixed for that period shall be implemented for those drawdowns and to be reset during the next period.
B. Interest rate shall be set and reset for each drawdown.
(3) Interest rates for each of the Loan are determined based on the base lending rate plus margin, and the base lending rate shall be the base [blank] month/year lending rate as published by the National Interbank Lending Center one day before each drawdown, plus/minus [blank]% or plus/minus [blank] basis points (1 basis point equals 0.01%). Interest rate for each of the Loan shall be reset based on method [blank] below:
A. The interest rate shall be reset at end of each period of 12 months, whereas interest shall be calculated in segment. The interest rate reset date for 2nd period and subsequent periods shall be the corresponding date when first or previous period is fall due. The Lender shall reset the interest rate based on the lending rate as published on the previous working day by the National Interbank Lending Center and margin. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. In case where the National Interbank Lending Center did not publish any base lending rate on that day, a base lending rate as published by the National Interbank Lending Center on a previous working day shall be use and so forth.
B. Interest rate remain unchanged throughout the tenure of the Loan.
(4) Other: [blank]:
3.2 [Determination Method of Foreign Currency Loan Interest Rate] Rate Foreign currency loan interest rate shall be based on method [blank] below:
(1) Fixed rate, annual interest rate of [blank]% which remain unchanged throughout the tenure of the Loan.
(2) Floating rate, the Loan interest rate shall be [blank] months [blank] (LIBOR/HIBOR) as base lending rate plus [blank] basis points (each basis point represents 0.01%). The spread shall remain fixed throughout the tenure of the Loan. In case of multiple drawdown, interest rate shall be determined individually for each drawdown. Subsequent to drawdown by the Borrower, the interest rate shall be calculated in segment and reset using method [blank] below:
A. The base interest rate shall be floating based on its corresponding period. The interest rate reset date for the 2nd period shall be one day after when the first period fall due. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period.
B. The base interest rate shall be reset on first day of each interest calculation period.
(3) Other: [blank]:
3.3 The interest for the Loan under this Contract shall be calculated and settled on a monthly quarterly basis. Principal of the Loan shall be repaid together with any unpaid interest upon maturity. Daily interest rate shall be annual interest rate/360 days.
3.4 Penalty interest rate for any overdue payments of interest and the Loan under this Contract shall be 50% on top of the original interest rate applicable to the Loan at the time. Penalty interest rate for any misappropriation of the Loan under this Contract shall be 100% on top of the original interest rate applicable to the Loan at the time.
3.5 In addition to interest, the Borrower shall also pay to the Lender a commitment fee. The commitment fee payable by the Borrower to the Lender shall be calculated based on the difference between the Loan granted (as stipulated in clause 2) and the amount drawn down (average during the fee calculation cycle) multiply by a rate of [blank]% 0% per annum and shall be paid under method 1 below:
(1) Pay in full upon the expiry of the fee calculation cycle.
(2) Upon the effectiveness of this Contract, payable by installments on the 20th day of each [blank] (month/quarter/year), until the expiry of fee calculation cycle. In case where the Loan under this Contract can be revolved, the fee calculation cycle refers to the period in which the Loan may be revolved. In case where the Loan under this Contract may not be revolved, the fee calculation cycle refers to period from date of this Contract to the date of the final drawdown of the Loan. In case where commitment fee is payable by installments and the Borrower fails to settle the commitment fee, the Lender has the right to stop or cancel the granting any unutilized portion of the Loan.
Appears in 1 contract
Sources: Fixed Asset Loan Contract (CHINA METRO-RURAL HOLDINGS LTD)
Interest Rate, Interest and Fees. 3.1 [Determination Method of RMB Loan Interest Rate] Rate RMB loan interest rate shall be based on method 2 below:
(1) Fixed rate, annual interest rate of [blank]% which remain unchanged throughout the tenure of the Loan.
(2) Floating rate, the Loan interest rate shall be based on the base lending rate plus a margin, base lending rate being 6.15% per annum (as of date of drawdown/Contract) and base lending rate for loans with similar tenure as published by the People’s Bank of China for loans with tenure similar to that stated in 2.2 of this Contract as of date of drawdownChina, plus a margin of 5%. From date of drawdown by the Borrower, the interest rate shall be reset at end of each period of 12 months, whereas interest shall be calculated in segment. The interest rate reset date for 2nd period shall be the corresponding date when first period is fall due. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period. In case of multiple drawdowns by the Borrower, the interest rate shall be reset using method A below:
A. Regardless the number of drawdowns during a period, interest rate fixed for that period shall be implemented for those drawdowns and to be reset during the next period.
B. Interest rate shall be set and reset for each drawdown.
(3) Other: [blank]:
3.2 [Determination Method of Foreign Currency Loan Interest Rate] Rate Foreign currency loan interest rate shall be based on method [blank] below:
(1) Fixed rate, annual interest rate of [blank]% which remain unchanged throughout the tenure of the Loan.
(2) Floating rate, the Loan interest rate shall be [blank] months [blank] (LIBOR/HIBOR) as base lending rate plus [blank] basis points (each basis point represents 0.01%). The spread shall remain fixed throughout the tenure of the Loan. In case of multiple drawdown, interest rate shall be determined individually for each drawdown. Subsequent to drawdown by the Borrower, the interest rate shall be calculated in segment and reset using method [blank] below:
A. The base interest rate shall be floating based on its corresponding period. The interest rate reset date for the 2nd period shall be one day after when the first period fall due. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period.
B. The base interest rate shall be reset on first day of each interest calculation period.
(3) Other: [blank]:
3.3 The interest for the Loan under this Contract shall be calculated and settled on a monthly quarterly basis. Principal of the Loan shall be repaid together with any unpaid interest upon maturity. Daily interest rate shall be annual interest rate/360 days.
3.4 Penalty interest rate for any overdue payments of interest and the Loan under this Contract shall be 50% on top of the original interest rate applicable to the Loan at the time. Penalty interest rate for any misappropriation of the Loan under this Contract shall be 100% on top of the original interest rate applicable to the Loan at the time.
3.5 In addition to interest, the Borrower shall also pay to the Lender a commitment fee. The commitment fee payable by the Borrower to the Lender shall be calculated based on the difference between the Loan granted (as stipulated in clause 2) and the amount drawn down (average during the fee calculation cycle) multiply by a rate of [blank]% 0% per annum and shall be paid under method 1 below:
(1) Pay in full upon the expiry of the fee calculation cycle.
(2) Upon the effectiveness of this Contract, payable by installments on the 20th day of each [blank] (month/quarter/year), until the expiry of fee calculation cycle. In case where the Loan under this Contract can be revolved, the fee calculation cycle refers to the period in which the Loan may be revolved. In case where the Loan under this Contract may not be revolved, the fee calculation cycle refers to period from date of this Contract to the date of the final drawdown of the Loan. In case where commitment fee is payable by installments and the Borrower fails to settle the commitment fee, the Lender has the right to stop or cancel the granting any unutilized portion of the Loan.
Appears in 1 contract
Sources: Fixed Asset Loan Contract (CHINA METRO-RURAL HOLDINGS LTD)
Interest Rate, Interest and Fees. 3.1 [Determination Method of for determining the RMB Loan Interest Rate] RMB loan interest rate shall be based on method 2 below:lending rate]
(1) Fixed interest rate, at an annual interest rate of [blank]% which remain / %, with the interest rate remaining unchanged throughout for the tenure duration of the LoanContract.
(2) The lending rate is determined by the benchmark interest rate plus a floating range, wherein the benchmark interest rate is the benchmark lending rate of the People’s Bank of China on / (withdrawal date/contract effective date) that corresponds to the lending term stipulated in Article 2.2, and the floating range is (upward/downward/zero) / %. After the Borrower makes a withdrawal, the lending rate will remain the same for a period of / (1/3/6/12) month(s), to be adjusted once a period, with interest accounted for in segments. The date for determining the interest rate for the second period shall be the date that corresponds to the withdrawal date at the end of the first period; should the given month not have the given date that corresponds to the withdrawal date, the corresponding date shall be the last day of the given month, and the same shall hold true for other periods. Should the Borrower make withdrawals in installments, the lending rate shall be adjusted according to method / listed below:
A. Regardless of the number of withdrawals during a single period, the current lending rate determined on the date on which the interest rate for the current period shall be used, to be adjusted at the next period.
B. The lending rate shall be determined and adjusted for each withdrawal.
(3) The lending rate for each withdrawal shall be determined based on the benchmark interest rate plus the floating range, wherein the benchmark interest rate shall be the annual (annual/monthly) loan promotion rate (LPR) by the National Interbank Funding Center published on the business day prior to the withdrawal date (withdrawal date/effective date of the contract) for the current withdrawal, and the floating range shall be / (upward/downward/zero) / % or plus (plus/less/zero) 83.5 base points (with one base point being 0.01%). The lending rate after each withdrawal shall be adjusted according to method listed below:
A. For a period of 1 (1/3/6/12) month(s), to be adjusted once a period, with interest accounted for in segments. The benchmark interest rate adjustment date for the second period shall be the date that corresponds to the withdrawal date at the end of the first period; should the given month not have the given date that corresponds to the withdrawal date, the corresponding date shall be the last day of the given month. Should the National Interbank Funding Center not have published a loan benchmark interest rate for the corresponding term on the previous business day, the loan benchmark interest for the corresponding term published on the last business day shall prevail, and so on and so forth.
B. The lending rate shall not be adjusted for the entire lending term.
(4) Other: /
3.2 [Method for determining the foreign exchange lending rate]
(1) Fixed interest rate, at an annual interest rate of / %, with the interest rate remaining unchanged for the duration of the Contract.
(2) Floating interest rate, with the Loan interest rate shall be based on the base lending rate as published determined by the People’s Bank of China for loans with tenure similar to that stated in 2.2 of this Contract as of date of drawdown, plus a margin of 5%. From date of drawdown by the Borrower, the interest rate shall be reset at end of each period of 12 months, whereas interest shall be calculated in segment. The interest rate reset date for 2nd period shall be the corresponding date when first period is fall due. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period. In case of multiple drawdowns by the Borrower, the interest rate shall be reset using method A below:
A. Regardless the number of drawdowns during a period, interest rate fixed for that period shall be implemented for those drawdowns and to be reset during the next period.
B. Interest rate shall be set and reset for each drawdown.
(3) Other: [blank]:
3.2 [Determination Method of Foreign Currency Loan Interest Rate] Foreign currency loan interest rate shall be based on method [blank] below:
(1) Fixed rate, annual interest rate of [blank]% which remain unchanged throughout the tenure spread of the Loan.
(2) Floating rate, the Loan interest rate shall be [blank] months [blank] / -month / (LIBOR/HIBOR) as base lending the benchmark interest rate plus [blank] basis / base points (each basis point represents i.e., 0.01%). The spread shall will remain fixed throughout unchanged during the tenure of Contract term. After the Loan. In case of multiple drawdownBorrower makes a withdrawal, the benchmark interest rate shall be determined individually adjusted according to method / listed below, with interest accounted for each drawdownin segments:
A. For a period of / (1/3/6/12) month(s), to be adjusted once a period. Subsequent The benchmark interest rate adjustment date for the second period shall be the date that corresponds to drawdown by the Borrowerwithdrawal date at the end of the first period; should the given month not have the given date that corresponds to the withdrawal date, the corresponding date shall be the last day of the given month, and the same shall hold true for other periods.
B. The benchmark interest rate shall be calculated in segment and reset using method [blank] below:
A. The base interest rate shall be floating based adjusted on its corresponding period. The interest rate reset date for the 2nd period shall be one day after when the first period fall due. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period.
B. The base interest rate shall be reset on first day of each interest calculation interest-bearing period.
(3) Other: [blank]:/
3.3 Interest shall be calculated on lending under the Contract on a daily basis from the withdrawal date and settled every month (month/quarter/six months/year). Interest shall be settled with principal when loans are due, and the daily interest rate = annual interest rate/360.
3.4 The penalty interest rate for overdue payments under the Loan under this Contract shall be calculated and settled on a monthly basis. Principal determined at 30 % of the Loan shall be repaid together with any unpaid interest upon maturity. Daily interest rate shall be annual interest rate/360 days.
3.4 Penalty original lending rate, and the penalty interest rate for any overdue payments misuse of interest and the Loan under this Contract loans shall be 50determined at 50 % on top of the original interest rate applicable to the Loan at the time. Penalty interest rate for any misappropriation of the Loan under this Contract shall be 100% on top of the original interest rate applicable to the Loan at the timelending rate.
3.5 In addition to interest, the Borrower shall also pay a commitment fee to the Lender a commitment feeLender. The commitment fee payable by the Borrower to the Lender shall be calculated based on the difference between the Loan granted (as amount of lending stipulated in clause 2Article 2 and the Borrower’s withdrawals (the daily average balance during the billing period) and the amount drawn down (average during the fee calculation cycle) multiply by a an annual rate of [blank]% per annum and shall / %, to be paid under according to method 1 / below:
(1) Pay in full upon A single payment shall be made to the expiry Lender on the last day of the fee calculation cyclebilling period.
(2) Upon After the effectiveness of this ContractContract enters into force, payable by payments shall be made in installments to the Lender on the 20th day of each [blank] every / (month/quarter/year), six months) up until the expiry last day of fee calculation cyclethe billing period. In case where the Loan under this Contract can be revolved, the fee calculation cycle The billing period refers to the period in which between the Loan may be revolved. In case where the Loan under this Contract may not be revolved, the fee calculation cycle refers to period from date of this Contract to the signing date of the final drawdown Contract and the withdrawal date of the Loanlast loan as stipulated in Article 4. In case where The commitment fee is payable by installments and paid in installments; should the Borrower fails fail to settle pay the commitment feefee on time, the Lender has is entitled to the right to stop or cancel the granting any unutilized portion suspension of the Loanissuance of loans or to cancel all amounts that the Borrower has not withdrawn.
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Interest Rate, Interest and Fees. 3.1 [Determination Method of RMB Loan Interest Rate] RMB loan interest rate shall be based on method 2 below:
(1) Fixed rate, annual interest rate of [blank]% which remain unchanged throughout the tenure of the Loan.
(2) Floating rate, the Loan interest rate shall be based on the base lending rate plus a margin, base lending rate being 6% per annum (as of date of drawdown/Contract) and base lending rate for loans with similar tenure as published by the People’s Bank of China for loans with tenure similar to that stated in 2.2 of this Contract as of date of drawdownChina, plus a margin of 5%. From date of drawdown by the Borrower, the interest rate shall be reset at end of each period of 12 3 months, whereas interest shall be calculated in segment. The interest rate reset date for 2nd period shall be the corresponding date when first period is fall due. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period. In case of multiple drawdowns by the Borrower, the interest rate shall be reset using method A below:
A. Regardless the number of drawdowns during a period, interest rate fixed for that period shall be implemented for those drawdowns and to be reset during the next period.
B. Interest rate shall be set and reset for each drawdown.
(3) Other: [blank]:
3.2 [Determination Method of Foreign Currency Loan Interest Rate] Foreign currency loan interest rate shall be based on method [blank] below:
(1) Fixed rate, annual interest rate of [blank]% which remain unchanged throughout the tenure of the Loan.
(2) Floating rate, the Loan interest rate shall be [blank] months [blank] (LIBOR/HIBOR) as base lending rate plus [blank] basis points (each basis point represents 0.01%). The spread shall remain fixed throughout the tenure of the Loan. In case of multiple drawdown, interest rate shall be determined individually for each drawdown. Subsequent to drawdown by the Borrower, the interest rate shall be calculated in segment and reset using method [blank] below:
A. The base interest rate shall be floating based on its corresponding period. The interest rate reset date for the 2nd period shall be one day after when the first period fall due. In case where the month when the interest rate shall be reset does not contain a corresponding date to the drawdown, the last day of that month shall be used as interest rate reset date. This method shall be applied throughout all subsequent period.
B. The base interest rate shall be reset on first day of each interest calculation period.
(3) Other: [blank]:
3.3 The interest for the Loan under this Contract shall be calculated and settled on a monthly basis. Principal of the Loan shall be repaid together with any unpaid interest upon maturity. Daily interest rate shall be annual interest rate/360 days.
3.4 Penalty interest rate for any overdue payments of interest and the Loan under this Contract shall be 50% on top of the original interest rate applicable to the Loan at the time. Penalty interest rate for any misappropriation of the Loan under this Contract shall be 100% on top of the original interest rate applicable to the Loan at the time.
3.5 In addition to interest, the Borrower shall also pay to the Lender a commitment fee. The commitment fee payable by the Borrower to the Lender shall be calculated based on the difference between the Loan granted (as stipulated in clause 2) and the amount drawn down (average during the fee calculation cycle) multiply by a rate of [blank]% 0% per annum and shall be paid under method 1 below:
(1) Pay in full upon the expiry of the fee calculation cycle.
(2) Upon the effectiveness of this Contract, payable by installments on the 20th day of each [blank] (month/quarter/year), until the expiry of fee calculation cycle. In case where the Loan under this Contract can be revolved, the fee calculation cycle refers to the period in which the Loan may be revolved. In case where the Loan under this Contract may not be revolved, the fee calculation cycle refers to period from date of this Contract to the date of the final drawdown of the Loan. In case where commitment fee is payable by installments and the Borrower fails to settle the commitment fee, the Lender has the right to stop or cancel the granting any unutilized portion of the Loan.
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Sources: Working Capital Loan Contract (CHINA METRO-RURAL HOLDINGS LTD)