Common use of Contribution Schedule Clause in Contracts

Contribution Schedule. The Parties’ registered capital contribution shall be made in accordance with the following schedule: (a) Within 90 (Ninety) days from the issuance of the Business License, Party A shall contribute US dollars 16,650,000 (in words: Sixteen Million Six Hundred Fifty Thousand US dollars), which shall represent 5% (Five Percent) of the total registered capital of the Company; Party B shall contribute an amount in RMB that is equivalent to US dollars 33,300,000 (in words: Thirty Three Million Three Hundred Thousand US dollars), which shall represent 10% (Ten Percent) of the total registered capital of the Company. (b) By the end of June, 2004, Party A shall contribute an additional US dollars 58,275,000 (in words: Fifty Eight Thousand Two Hundred Seventy Five Thousand US dollars), which cumulatively shall represent 22.5% (Twenty Two Point Five Percent) of the total registered capital of the Company; Party B shall contribute an additional amount in RMB that is equivalent to US dollars 58,275,000 (in words: Fifty Eight Million Two Hundred Seventy Five Thousand US dollars), which cumulatively shall represent 27.5% (in words: Twenty Seven Point Five Percent) of the total registered capital of the Company. (c) Party A shall contribute the outstanding balance of its cash contribution, i.e. US dollars 166,500,000 (in words: One Hundred Sixty Six Million Five Hundred Thousand US dollars), which shall represent 50% (Fifty Percent) of the total registered capital of the Company within 5 (Five) years as of the date of the establishment of the Company.