RMB Loans definition
Examples of RMB Loans in a sentence
The Lender at its option may recalculate the USD value of the principal amount of all outstanding loans after the prepayment by dividing the unpaid principal amount of the RMB loans outstanding between the Borrower and the Lender (the "RMB Loans") by the then prevailing exchange rate of RMB to USD exchange publicized by the Bank of China, Head Office.
If the amount of the USD standby L/C is less than the then unpaid principal amount of the RMB Loans, the Lender may request the Borrower to provide additional guarantees, provided that the sum of the value of all such additional guarantees (including previously provided guarantees) and the amount of the standby L/C may not exceed USD $10 million.
However, in no event will the exchange rate used to revalue the principal amount of outstanding RMB Loans be less than 90% of the Issued Exchange Rate.
Except as contemplatedas set forth in Schedule 4.11, all loans and loan commitments extended by any RMB Subsidiary and any extensions, renewals or continuations of such loans and loan commitments (the "RMB Loans") were made materially in accordance with the lending policies of such RMB Subsidiary in the Ordinary Course of Business.
All such RMB Loans are, and at the Closing will be, free and clear of any encumbrance or other charge (except for liens, if any, set forth on Schedule 4.9) and each RMB Subsidiary has complied, and at the Closing will have complied with all Legal Requirements relating to such RMB Loans, except where any such failure to comply would not reasonably be expected to have a Material Adverse Effect on RMB or any RMB Subsidiary.
The RMB Loans are evidenced by appropriate and sufficient documentation and constitute valid and binding obligations to such RMB Subsidiary enforceable in accordance with their terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization or other laws affecting creditors' rights generally and subject to general principles of equity.