Entrusted Loan definition

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

• A circular containing, among other things, (i) further details of the Entrusted Loan Extension Agreement; and (ii) other general information of the Company, is expected to be despatched to the Shareholders on or before 30 April 2015 as additional time is required for the preparation of, among other things, indebtedness and working capital statement to be included in the circular.

• The Controlling Shareholder, holding 558,020,694 issued Shares of, representing approximately 65.00% of the issued share capital of, the Company as at the date of this announcement, has given its written approval in respect of the Entrusted Loan Extension Arrangement.

• Since no Shareholder would be required to abstain from voting if the Company were to convene a general meeting for the approval of the Entrusted Loan Extension Arrangement, written shareholder’s approval may be accepted in lieu of holding a general meeting pursuant to Rule 14.44 of the Listing Rules.

• In addition, should the MOU be terminated or if the Formal Agreement is not entered into for any reason, the Lender is entitled to demand for repayment of the Entrusted Loan from the Borrower within five business days of such termination.

• The Directors (including the independent non-executive Directors) considered the entering into of the Entrusted Loan Extension Agreement as mentioned above represents a more efficient use of the Group’s financial resources, is fair and reasonable and hence is in the interests of the Company and its Shareholders as a whole.

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 RMB6.0 million (equivalent to approximately HK$6.91 million) for a period commencing on 14 October 2020 and ending on 14 October 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 14 October 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 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$19.57 million) to RMB15.3 million (equivalent to approximately HK$17.61 million) at 8% interest rate per annum and handling charge of RMB153,000 (equivalent to approximately HK$176,103)

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 entrusted loan under the Entrusted Loan Agreement “Entrusted Loan Agreement” : the entrusted loan agreement dated 25 September 2009 entered into among the Company, Beijing Motor and China Minsheng in respect of 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