Credit Facility Agreement
(This document is an English summary from the original Chinese version)
The Borrower : Jinzhou Halla Electrical Equipment Co., Ltd.
The Lender: Bank of China (Jinzhou Tiebei Branch)
Subject to the terms of this Credit Facility Agreement (the “Agreement”) and separate agreements to be entered
into by the Borrower and Lender (collectively, the “Parties”), Lender hereby agrees to make loans to the
Borrower for purposes of RMB short-term loan, foreign currency short-term loan, bank acceptance, and
settlement financing business, etc.
The Lender hereby grants to the Borrower the following line of credit of up to RMB 80 million:
Within the term of the Agreement as specified in Section 5, the Borrower may use line of credit in a revolving
way up to the amount as provided under Section 2.
In case the Borrower needs to adjust the scope of business as specified in Section 1, it shall apply to the Lender
in writing. Upon the application, the Lender may decide whether to adjust the scope.
The Parties shall enter into a separate agreement (collectively “Separate Agreement”) as follows each time
advances are made pursuant to this Agreement:
Scope of Business
Types of Loan and Commitment Amount
(i) RMB Short-Term Loan: RMB 30 million;
(ii) Bank’s Acceptance Credit: RMB 15 million;
(iii) Factor Credit: RMB 15 million; and
(iv) Commercial Invoice Discount: RMB 20 million.
Use of the Line of Credit
Separate Agreements Required:
4.1 For RMB Short-Term Loan: RMB Loan Agreement (Short Term);
4.2 For Bank’s Acceptance Credit: Bank’s Acceptance Credit Agreement; and
The Separate Agreements shall become integral part of this Agreement. The rights and obligations of both Parties
shall be defined according to the Separate Agreements and this Agreement. In case of any discrepancy between
the Separate Agreements and this Agreement, the Separate Agreements shall pr