{"id":40935,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/contract-of-loan-utstarcom-hangzhou-telecom-co-ltd-and-bank3.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"contract-of-loan-utstarcom-hangzhou-telecom-co-ltd-and-bank3","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/finance\/contract-of-loan-utstarcom-hangzhou-telecom-co-ltd-and-bank3.html","title":{"rendered":"Contract of Loan &#8211; UTStarcom (Hangzhou) Telecom Co. Ltd. and Bank of China"},"content":{"rendered":"<pre>                                BANK OF CHINA\n\n                               CONTRACT OF LOAN\n\n\n\n\n                       BORROWER: UTSTARCOM(HANGZHOU)\n                         TELECOM CO.,LTD\n                       LENDER: BANK OF CHINA ZHEJIANG BRANCH\n\n\n                              Contract No.: 99BRJ155\n\n\n\n\nName of borrower:UTStarcom (Hangzhou)      Name of lender: Bank of China \n        Telecom Co.,Ltd                    Zhejiang Branch\n\n\nLegal address:                Legal address: 320 Yan'an Rd., Hangzhou\n\nLegal rep.:                  Legal rep.:\n\nBank of deposit: Bank of China Zhejiang Branch\n\nAccount No.:  [*]\n\nTel: 8856112               Tel: 0571-7077996\n\nFax:  8855203              Fax: 0571-7132286\n\nTelex:                   Telex: 35019 BOCHZ CN\n\nP.C.: 310012                 P.C.: 310006\n\n\n    Any notice, legal documentary as well as payment order hereunder is \nrequired to be made in written form.  Once the telex, telegraph and fax send \nout, or seven days after the letters mail out, or once the correspondence \nthat must be delivered by hand send off, those documents are considered to \narrive the opposing party.\n\n\n[*] = CERTAIN INFORMATION ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY \nWITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT \nTO THE OMITTED PORTIONS.\n\n\n\n                               CONTRACT OF LOAN\n                      Contract No.: 99BRJ155\n\nBorrower:UTStsrcom (Hangzhou) Telecom Co.,Ltd\nLender: Bank of China Zhejiang Branch\n\n     Whereas Borrower and Lender agree to make and fulfill this contract \nunder the General Lending Rules and Regulations of Loan Contract and other \nChinese laws and regulations concerned, it is hereby agreed as follows:\n\n1.     Content under this contract:\n       a.     Lending category: Short-term Loan\n       b.     Use of Lending: Circulating\n       c.     Principal RMB20,000,000 (in words)\n       d.     Rate of interest:\n              i.   RMB loan: [*]\n              ii.  Foreign currency loan:\n              Where the rate of interest is adjusted by the government, it is \n              decided according to the relevant regulations.\n       e.     Life of loan: Six months, (From July 14, 1999 to Jan. 10, 2000).\n\n2.     After this Contract takes effect, the borrower shall apply for drawing \naccording to the detailed drawing plan in case of using the loan in batches.\n\n3.     Repayment.  The borrower shall repay the principal and interest during \n       the aforesaid conventional term.  In case of installment, the borrower \n       shall comply with the plan as follows:\n       Date:__________________, Repayment amount:___________________\n       The borrower may apply to the lender for a grace period 30 days before \nthe maturity, and it can be extended with the lender's consent and the \nfulfillment of the corresponding procedure.\n       The borrower may make prepayment with the consent of the lender, and \nthe interest on the amount of prepayment is calculated according to \nthe relevant regulations.\n\n4.     Interest calculation.\n       a.     The interest hereunder is calculated from the first day of \nutilizing on the amount that the borrower actually has used.  The interest is \ncalculated daily and paid quarterly.\n       b.     The interest is collected actively at the interest payment day \nby the lender from the running account or any other saving account which is \nopened in the lender or one of the lender's branches.\n\n5.     The principal, interest and corresponding fee are jointly and \nseverally guaranteed by UTStarcom(China) Telecom Co.,Ltd in full, the \nnumber of the guarantee contract is 98BRB107. _________________ provides \nassets as a mortgage, the number of the mortgage contract is _____________. \n______________ provides chattels as a pledge, the number of the pledge \ncontract is_______________.\n\n6.     Borrower's obligations\n\n6.1    The borrower shall open an account for settlement in the lender or in \none of the lender's branches. Any settlement arising from this contract shall \nbe processed through the aforesaid account.\n\n6.2    The borrower shall provide monthly the lender with authentic balance \nsheet, profit and loss sheet, financial statement and the true information \nsuch as the name of the bank with which the borrower's account is opened, \naccount number, balances of its outstanding deposits and loans, etc.\n\n6.3    The borrower shall accept the lender's inspection and supervision on \nutilizing the loan, status of business and the financial affairs.  The \nborrower shall provide the lender with the documents at the lender's request.\n\n\n[*] = CERTAIN INFORMATION ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY \nWITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT \nTO THE OMITTED PORTIONS.\n\n\n\n\n6.4    The borrower shall utilize the loan according to the agreed purpose \nstipulated in this contract.\n\n6.5    The borrower shall pay the loan interest on time and render the \nrepayment on time.\n\n6.6    In case that the borrower provides any warranty for the third party, \nthe borrower shall notify the lender in advance and such warranty shall not \naffect the borrower's repayment to the lender on time.\n\n6.7    During the period of this contract, in case that the borrower changes \nthe pattern of management or the ownership construction by the means of \ncontracting, leasing, pooling, transforming to stock company, establishing \njoint venture, separating, merger, foreign investment, transferring of \nownership, resolving or any other action, the borrower shall seek the \nlender's consent and ascertain the new source of repayment or provide new\nwarranties.\n       If the borrower transfers partial or all the obligations under this \ncontract to a third party, the borrower should obtain the lender's consent in \nwriting and ascertain exactly the rights and obligations.\n\n6.8    During the period of this contract, if the borrower changes its legal \nrepresentative, legal address or business address the borrower shall notify the\nlender in advance.\n\n6.9    During the period of this period, if there arises any circumstance \nthat is to cause damage to the lender's credit, the borrower shall inform the \nlender in time and take measures to protect the lender's right.\n\n7.     Default responsibilities\n\n7.1    If the borrower breaches any part of the aforesaid obligations, the \nlender has the right of collecting all amounts payable hereunder by the \nborrower before it's due, freezing the balance of the loan which the borrower\nhas not utilized, taking the measures of credit punishment as well as \nbringing a lawsuit.\n\n7.2    The lender has the right of charging a penalty fine according to \nstipulations promulgated by the People's Bank of China or the Bank of China \nif the borrower can not render the repayment during the loan period or the \nextension of the loan.\n\n7.3    If the borrower do not utilize the loan for purpose specified in this \ncontract or engross and embezzle the loan, the lender can impose additional \ninterest according to the stipulations promulgated by the People's Bank of \nChina or the Bank of China.\n\n7.4    The borrower shall pay interest calculated on the basis of the unpaid \ndue interest at the exact interest rate of this loan or if the borrower do \nnot pay the due interest in full, the lender has the right of charging the \ninterest calculated on the basis of unpaid due interest according to the \nstipulations promulgated by the People's Bank of China or the Bank of China.\n\n8.     The borrower shall pay all expenses arising out of or in connection \nwith the contract, as well as the expenses incurred by the lender in \ncollecting its loan.  Such expenses shall include, but shall not be limited \nto the assessment fee, auction fee, lawyer's fee, investigation fee, and \ncosts for assignment of assets, taxes, etc.\n\n9.     During the period of this contract, the lender may collect all amounts \npayable hereunder by the borrower before it is due or terminate the contract, \nwhere the borrower or the guarantor is or may be in financial difficulties, \nor withdraws or transfers its capital and assets without consent of the \nlender, or involves in any disputes with a third party and the estates under \nmortgage\/pledge destroyed or lose, or any such events may endanger the \nsafety of the loan.  Where the lender collects partial or all amount \nhereunder before due according to this contract, laws and regulations, the \nborrower and the guarantor voluntarily waiver the right of defense against \nthe lender, and the\n\n\n\nlender has the right to transfer the amount directly to its own from the \nborrower's or the guarantor's bank account.\n\n10.    The loan receipt, guarantee\/mortgage\/pledge contract, application for \nloan and any other documents hereunder are parts of this contract, and have \nthe same legal effect as this contract.\n\n11.    Other agreements upon by and between parties.\n       a.\n       b.\n       c.\n\n12.    The contract is governed by China law and under the jurisdiction of \nthe court in the lender's domicile place.\n\n13.    The contract takes effect from and after the legal representatives or \nagents of all parties sign and affix their companies' seal, and terminates \nas soon as the borrower pays off the amount hereunder in full.\n\n14.    The original of the contract is triplicate which the lender takes two \nand the borrower takes one.\n\nThe borrower:                 The lender: Bank of China Zhejiang Branch\n\nLegal rep.(agent):                 Legal rep.(agent):\n\nSign (Seal):                  Sign (Seal):\n\nDate of the Contract: July 14, 1999\n\nPlace of the Contract:  Hangzhou\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9205],"corporate_contracts_industries":[9516],"corporate_contracts_types":[9560,9567],"class_list":["post-40935","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-utstarcom-inc","corporate_contracts_industries-telecommunications__equipment","corporate_contracts_types-finance","corporate_contracts_types-finance__loan"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=40935"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40935"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40935"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}