Entrusted Loan the loan with principal amount of RMB26.0 million (equivalent to approximately of HK$31.3 million) at 7% interest rate per annum to be lent by Chinlink Guarantee and borrowed by the Customer under the Entrusted Loan agreement. The loan period was from 7 September 2020 to 7 September 2021 and was extended to 7 September 2022 as supplemented by the Entrusted Loan Extension Agreement
Entrusted Loan means a loan that shall be disbursed by the Lender (i.e., the Entrustee) for and on behalf of the Entrustor to a specific person, for specific purposes, in a specific amount, for a specific tenor and at a specific interest rate determined by the Entrustor from the funds provided by the Entrustor to the Lender, and shall be recovered with the assistance of the Lender. In connection with each Entrusted Loan, the Lender shall receive the charges only and not take any risks in any form.
Entrusted Loan the loan with principal amount of RMB2.0 million (equivalent to approximately of HK$2.40 million) for a period commencing on 28 September 2020 and ending on 28 September 2021 at 7% interest rate per annum to be lent by Chinlink Guarantee and to be borrowed by the Customer in accordance with the Entrusted Loan Agreement “Entrusted Loan Agreement” the entrusted loan agreement dated 28 September 2020 and entered into among Chinlink Guarantee, the Customer and the Administrative Agent in relation to the provision of an Entrusted Loan. The obligation of the Customer under the Entrusted Loan Agreement was secured by (i) the personal guarantees granted by the Individual Guarantor; and (ii) the corporate guarantee granted by the Corporate Guarantor II, in favour of Chinlink Guarantee (For details, please refer to the announcement of the Company dated 28 September 2020)
Examples of Entrusted Loan in a sentence
The Lender shall receive handling charges equal to 1‰ of the amount of the Entrusted Loan.
The PinganDecheng Entrusted Loan was secured by guarantee provided by each of Shanghai Jingan and Shanghai Minhang.
The SSI Entrusted Loan was secured by guarantee provided by each of Shanghai Jingan and Shanghai Minhang.
To the best of the Directors’ knowledge, information and belief, having made all reasonable enquiries, no Shareholder or any of their respective associates have any material interest in the Acquisition and the provision of the Entrusted Loan, thus no Shareholder is required to abstain from voting if the Company was to convene a general meeting for the approval of the provision of the Entrusted Loan.
Pursuant to the Lujiazui Entrusted Loan Agreement, Shanghai Jingan was required to pay a deposit of RMB124 million to Lujiazui by December 15, 2018, failing which Lujiazui can demand the immediate repayment of the total loan together with liquidated charges and interest.
More Definitions of Entrusted Loan
Entrusted Loan the loan in the principal amount of RMB200 million which the Lender has entrusted the Lending Agent to provide to the Borrower pursuant to the Entrusted Loan Agreement
Entrusted Loan the loan with principal amount of RMB15.0 million (equivalent to approximately of HK$17.03 million) for a period commencing on 28 September 2020 and ending on 28 September 2021 at 7% interest rate per annum to be lent by Chinlink Guarantee and to be borrowed by the Customer in accordance with the Entrusted Loan Agreement “Entrusted Loan Agreement” the entrusted loan agreement dated 28 September 2020 and entered into among Chinlink Guarantee, the Customer and the Administrative Agent in relation to the provision of an Entrusted Loan “Factoring Financing Amendment and Extension Agreement” the amendment and extension agreement dated 25 November 2019 and entered into between Chinlink Commercial Factoring (as lender) and the Customer (as borrower) in relation to the extension of the Commercial Factoring Agreement for a period of about twelve months and reduction of principal from RMB18.0 million (equivalent to approximately HK$20.43 million) to RMB16.2 million (equivalent to approximately HK$18.39 million) at 8% interest rate per annum and handling charge of RMB162,000 (equivalent to approximately HK$183,870)
Entrusted Loan the loan with principal amount of RMB15.0 million (equivalent to approximately of HK$18.24 million) for a period commencing on 28 September 2020 and ending on 28 September 2021 at 7% interest rate per annum to be lent by Chinlink Guarantee and to be borrowed by the Customer in accordance with the Entrusted Loan Agreement “Entrusted Loan Agreement” the entrusted loan agreement dated 28 September 2020 and entered into among Chinlink Guarantee, the Customer and the Administrative Agent in relation to the provision of an Entrusted Loan (For details, please refer to the announcement of the Company dated 28 September 2020)
Entrusted Loan the loan in the amount of RMB55,000,000 made pursuant to the Entrusted Loan Agreement and the Extension Agreement “Entrusted Loan Agreement” : the entrusted loan agreement dated 24 June 2013 entered into between Yalongwan, the Bank and the Borrower in relation to the Entrusted Loan
Entrusted Loan the loan in the amount of RMB143.9 million to be made pursuant to the Original Entrusted Loan Agreement, the First Entrusted Loan Extension Agreement and the Second Entrusted Loan Extension Agreement
Entrusted Loan the amount of RMB200 million of the Group which was entrusted to the Lending Agent pursuant to the Entrusted Loan Agreement “Entrusted Loan Agreement” the entrusted loan agreement dated 17 December 2012 entered into between Chaowei Power and the Lending Agent in relation to the Entrusted Loan “Entrusted Loan Arrangement” the arrangement in relation to the provision of the Entrusted Loan by Chaowei Power to the Borrower through the Lending Agent as contemplated under the Entrusted Loan Agreement, as amended by the Supplemental Entrusted Loan Agreement and the Loan Agreement, as amended by the Supplemental Loan Agreement “Extended Entrusted Loan” the amount of RMB160 million of the Group which was entrusted to the Lending Agent pursuant to the Supplemental Entrusted Loan Agreement
Entrusted Loan the loan with principal amount of RMB6.0 million (equivalent to approximately HK$7.08 million) for a period commencing on 14 October 2020 and ending on 14 October 2021 at 7% interest rate per annum lent by Chinlink Guarantee and borrowed by the Customer in accordance with the Entrusted Loan Agreement “Entrusted Loan Agreement” the entrusted loan agreement dated 14 October 2020 and entered into among Chinlink Guarantee, the Customer and an independent financial institution in relation to the provision of an Entrusted Loan “Factoring Financing Amendment and Extension Agreement I” the amendment and extension agreement dated 21 November 2019 and entered into between Chinlink Commercial Factoring and the Customer in relation to the extension of the Commercial Factoring Agreement for a period of about twelve months and reduction of principal from RMB17.0 million (equivalent to approximately HK$20.06 million) to RMB15.3 million (equivalent to approximately HK$18.05 million) at 8% interest rate per annum and handling charge of RMB153,000 (equivalent to approximately HK$180,540) “Factoring Financing Amendment and Extension Agreement II” the amendment and extension agreement dated 27 November 2020 and entered into between Chinlink Commercial Factoring and the Customer in relation to the extension of the Factoring Financing Amendment and Extension Agreement I for a period of about twelve months with principal of RMB15.3 million (equivalent to approximately HK$18.05 million) at 8% interest rate per annum and handling charge of RMB153,000 (equivalent to approximately HK$180,540)