Common use of Type of Factoring Clause in Contracts

Type of Factoring. The recourse right is attached. If any lessees to the Finance Lease Agreement I, the Finance Lease Agreement II, the Finance Lease Agreement III, the Finance Lease Agreement IV and the Finance Lease Agreement V fails to fully settle any undue amount from the Lease Receivables I (i.e. RMB48,935,333), the Lease Receivables II (i.e. RMB57,551,700), the Lease Receivables III (i.e. RMB10,673,958), the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979) within the agreed time limit, the Factoring Bank has recourse for a claim against the Company in respect of the outstanding payment. Transfer of the Undue Lease Receivables Pursuant to the Factoring Agreement, for obtaining the Funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables I (i.e. RMB48,935,333), the Lease Receivables II (i.e. RMB57,551,700), the Lease Receivables III (i.e. RMB10,673,958), the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979) and the Factoring Bank has agreed to provide the Funds to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables I (i.e. RMB48,935,333), the Lease Receivables II (i.e. RMB57,551,700), the Lease Receivables III (i.e. RMB10,673,958), the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979). The Company does not separately calculate the profit before and after tax of the Lease Receivables I, the Lease Receivables II, the Lease Receivables III, the Lease Receivables IV and the Lease Receivables V.

Type of Factoring. The recourse right is attached. If any lessees to the Finance Lease Agreement I, the Finance Lease Agreement II, the Finance Lease Agreement III, the Finance Lease Agreement IV and the Finance Lease Agreement V fails to fully settle any undue amount from the Lease Receivables I (i.e. RMB48,935,333RMB35,074,116), the Lease Receivables II (i.e. RMB57,551,700RMB35,661,551), the Lease Receivables III (i.e. RMB10,673,958RMB33,896,250), the Lease Receivables IV (i.e. RMB7,717,041RMB30,619,559) and the Lease Receivables V (i.e. RMB5,362,979RMB43,525,602) within the agreed time limit, the Factoring Bank has recourse for a claim against the Company in respect of the outstanding payment. Transfer of the Undue Lease Receivables Pursuant to the Factoring AgreementAgreement I, for obtaining the funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables I (i.e. RMB35,074,116), the Lease Receivables II (i.e. RMB35,661,551), the Lease Receivables III (i.e. RMB33,896,250) and the Lease Receivables IV (i.e. RMB30,619,559) and the Factoring Bank has agreed to provide the relevant factoring facility to the Company. The Funds shall be payable by the Factoring Bank to the Company within 3 days from the date of transfer of the undue sums of the Lease Receivables I (i.e. RMB35,074,116), the Lease Receivables II (i.e. RMB35,661,551), the Lease Receivables III (i.e. RMB33,896,250) and the Lease Receivables IV (i.e. RMB30,619,559). The Company does not separately calculate the profit before and after tax of the Lease Receivables I, the Lease Receivables II, the Lease Receivables III and the Lease Receivables IV. Pursuant to the Factoring Agreement II, for obtaining the Funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables I (i.e. RMB48,935,333), the Lease Receivables II (i.e. RMB57,551,700), the Lease Receivables III (i.e. RMB10,673,958), the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979RMB43,525,602) and the Factoring Bank has agreed to provide the Funds to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables I (i.e. RMB48,935,333), the Lease Receivables II (i.e. RMB57,551,700), the Lease Receivables III (i.e. RMB10,673,958), the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979RMB43,525,602). The Company does not separately calculate the profit before and after tax of the Lease Receivable V. Factoring Charge and Interests The charge for factoring services pursuant to the Factoring Agreement I amounted to approximately RMB285,684.1. The interest rate applicable to the factoring facilities is 4.45%, being a rate on the day before facility payment date equivalent to the five years loan prime rate announced by the People’s Bank of China – 20 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables I, the Lease Receivables II, the Lease Receivables III, III and the Lease Receivables IV by the lessees under the Finance Lease Agreement I, the Finance Lease Agreement II, the Finance Lease Agreement III and the Finance Lease Agreement IV and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date. The charge for factoring services pursuant to the Factoring Agreement II amounted to approximately RMB98,014.89. The interest rate applicable to the factoring facilities is 4.4%, being a rate on the day before facility payment date equivalent to the five years loan prime rate announced by the People’s Bank of China – 20 basic points (one basic point equal to 0.01%). Factoring facilities interest = factoring facilities balance × factoring facilities interest rate × actual occupancy day/360. The amount of the factoring facilities interest is the same as the amount of interest payable under the Lease Receivables V.V by the lessees under the Finance Lease Agreement V and will be paid by the Company to the Factoring Bank upon receipt of the rent paid by the lessees on each rent payment date.

Type of Factoring. The recourse right is attached. If any lessees to the Finance Lease Agreement I, the Finance Lease Agreement II, the Finance Lease Agreement III, III and the Finance Lease Agreement IV and the Finance Lease Agreement V fails to fully settle any undue amount from the Lease Receivables I (i.e. RMB48,935,333RMB35,074,116), the Lease Receivables II (i.e. RMB57,551,700RMB35,661,551), the Lease Receivables III (i.e. RMB10,673,958), RMB33,896,250) and the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979RMB30,619,559) within the agreed time limit, the Factoring Bank has recourse for a claim against the Company in respect of the outstanding payment. Transfer of the Undue Lease Receivables Pursuant to the Factoring Agreement, for For obtaining the Funds funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables I (i.e. RMB48,935,333RMB35,074,116), the Lease Receivables II (i.e. RMB57,551,700RMB35,661,551), the Lease Receivables III (i.e. RMB10,673,958), RMB33,896,250) and the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979RMB30,619,559) and the Factoring Bank has agreed to provide the Funds to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day 3 days from the date of transfer of the undue sums of the Lease Receivables I (i.e. RMB48,935,333RMB35,074,116), the Lease Receivables II (i.e. RMB57,551,700RMB35,661,551), the Lease Receivables III (i.e. RMB10,673,958), RMB33,896,250) and the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979RMB30,619,559). The Company does not separately calculate the profit before and after tax of the Lease Receivables I, the Lease Receivables II, the Lease Receivables III, the Lease Receivables IV III and the Lease Receivables V.IV.

Type of Factoring. The recourse right is attached. If any lessees to the Finance Lease Agreement I, the Finance Lease Agreement II, the Finance Lease Agreement III, the Finance Lease Agreement IV IV, the Finance Lease Agreement V, the Finance Lease Agreement VI and the Finance Lease Agreement V VII fails to fully settle any undue amount from the Lease Receivables I (i.e. RMB48,935,333RMB47,582,589), the Lease Receivables II (i.e. RMB57,551,700RMB14,280,374), the Lease Receivables III (i.e. RMB10,673,958RMB16,659,658), the Lease Receivables IV (i.e. RMB7,717,041) and RMB22,002,944), the Lease Receivables V (i.e. RMB5,362,979RMB16,547,260), the Lease Receivables VI (i.e. RMB12,048,391) and the Lease Receivables VII (i.e. RMB47,444,411) within the agreed time limit, the Factoring Bank has recourse for a claim against the Company in respect of the outstanding payment. Transfer of the Undue Lease Receivables Pursuant to the Factoring AgreementAgreements, for obtaining the Funds funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables I (i.e. RMB48,935,333RMB47,582,589), the Lease Receivables II (i.e. RMB57,551,700RMB14,280,374), the Lease Receivables III (i.e. RMB10,673,958RMB16,659,658), the Lease Receivables IV (i.e. RMB7,717,041) and RMB22,002,944), the Lease Receivables V (i.e. RMB5,362,979RMB16,547,260), the Lease Receivables VI (i.e. RMB12,048,391) and the Lease Receivables VII (i.e. RMB47,444,411) and the Factoring Bank has agreed to provide the Funds relevant factoring facility to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables I (i.e. RMB48,935,333i.e.RMB47,582,589), the Lease Receivables II (i.e. RMB57,551,700RMB14,280,374), the Lease Receivables III (i.e. RMB10,673,958RMB16,659,658), the Lease Receivables IV (i.e. RMB7,717,041) and RMB22,002,944), the Lease Receivables V (i.e. RMB5,362,979RMB16,547,260), the Lease Receivables VI (i.e. RMB12,048,391) and the Lease Receivables VII (i.e. RMB47,444,411). The Company does not separately calculate the profit before and after tax of the each Lease Receivables I, the Lease Receivables II, the Lease Receivables III, the Lease Receivables IV and the Lease Receivables V.Receivables.

Type of Factoring. The recourse right is attached. If any lessees to the Finance Lease Agreement I, the Finance Lease Agreement II, the Finance Lease Agreement III, III and the Finance Lease Agreement IV and the Finance Lease Agreement V fails to fully settle any undue amount from the Lease Receivables I (i.e. RMB48,935,333RMB30,413,245), the Lease Receivables II (i.e. RMB57,551,700RMB42,976,600), the Lease Receivables III (i.e. RMB10,673,958), RMB22,026,208) and the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979RMB54,405,477) within the agreed time limit, the Factoring Bank has recourse for a claim against the Company in respect of the outstanding payment. Transfer of the Undue Lease Receivables Pursuant to the Factoring Agreement, for obtaining the Funds from the Factoring Bank, the Company has agreed to transfer and the Factoring Bank has agreed to receive the creditor’s rights and relevant rights of the undue sums from the Lease Receivables I (i.e. RMB48,935,333RMB30,413,245), the Lease Receivables II (i.e. RMB57,551,700RMB42,976,600), the Lease Receivables III (i.e. RMB10,673,958), RMB22,026,208) and the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979RMB54,405,477) and the Factoring Bank has agreed to provide the Funds to the Company. The Funds shall be payable by the Factoring Bank to the Company within 1 day from the date of transfer of the undue sums of the Lease Receivables I (i.e. RMB48,935,333RMB30,413,245), the Lease Receivables II (i.e. RMB57,551,700RMB42,976,600), the Lease Receivables III (i.e. RMB10,673,958), RMB22,026,208) and the Lease Receivables IV (i.e. RMB7,717,041) and the Lease Receivables V (i.e. RMB5,362,979RMB54,405,477). The Company does not separately calculate the profit before and after tax of the Lease Receivables I, the Lease Receivables II, the Lease Receivables III, the Lease Receivables IV III and the Lease Receivables V.IV.