信用协议英文版.docx
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信用协议英文版.docx
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信用协议英文版
CREDITAGREEMENT
ThisCREDITAGREEMENT(this“Agreement”),ismadeasof_____,___th____,2019,byandamong,(the“Borrower”),andLLC,alimitedliabilitycompany(the“Lender”).
RECITALS
WHEREAS,theBorrowerhasrequestedtheLendertoextendtoitatermloan(the“Loan”)intheprincipalamountof[]U.S.Dollars($[]).
WHEREAS,theLenderisnowwillingtoextendtheaforesaidLoantotheBorroweronthetermsandconditionssetforthinthisAgreement.
NOW,THEREFORE,forvaluableconsideration,thereceiptandsufficiencyofwhichisherebyacknowledged,thepartiesheretoherebyagreeasfollows:
AGREEMENT
Borrower
.
Lender
LLC.
Amount
SubjecttothetermsandconditionscontainedinthisAgreement,theLenderagreestomaketheLoantotheBorrowerintheprincipalamountof[]U.S.Dollars($[]).
MaturityDate
ThematuritydatefortheLoanshallbetheearlierof(i)the[tenth(10th)]anniversaryofthedatehereofor(ii)theliquidationoftheBorrower(suchearlierdate,the“MaturityDate”).AllprincipalandanyaccruedandunpaidinterestthereonshallbepayableinalumpsumontheMaturityDate.IftheMaturityDatefallsonaSaturdayorSundayoradateonwhichthebankslocatedin[NewYork,NewYork]arerequiredorauthorizedtoclose,theMaturityDateshallbeextendedtothenextsubsequentbusinessday.
RepaymentofPrincipal
Theentireoutstandingprincipalbalancehereunder,togetherwithanyaccruedandunpaidinterestthereon,shallbedueandpayableinfullontheMaturityDate.TheLoanmaybeprepaidinwholeorinpart,atanytimeandfromtimetotime,withoutpenaltyorpremium.Intheeventofasale,transferorotherdisposition,directlyorindirectly,ofalloranyportionoftheCollateral(definedbelow),uponthedemandoftheLender,thenetcashproceedsarisingfromsuchsale,transferorotherdispositionshallbepaidtotheLenderasaprepaymentoftheLoan,withoutpenaltyorpremium.
InterestRate
TheLoanshallbearinterestattherateof[]%perannumfromandincludingthedatehereof,butexcludingtheMaturityDate.
Interestshallbecomputedonthebasisofactualdayselapseddividedbya360-dayyear.
InterestPayments
InterestshallaccrueandcompoundannuallyuntiltheaggregateprincipalamountoftheLoanispaidinfull.Beginningonthe[]anniversaryofthedatehereofandoneachsubsequentanniversaryofthedatehereof,theBorrowershallpayinarrearsanamountofaccruedinterestequalto[]%perannum.AllaccruedandunpaidinterestmaybepaidattheelectionofBorrower,inwholeorinpart,atanytimeandfromtimetotime,withoutpenaltyorpremium.
DefaultRate
Interestshallaccrueontheoutstandingprincipalbalancehereoffromthedateofanydefaulthereunderandforsolongassuchdefaultcontinuesattherateof[15]%perannum;provided,thatinnoeventshalltheinteresthereunderexceedthemaximumamountthattheLendermaychargeorcollectundersuchlawapplicabletoit.
EvidenceofIndebtedness
TheLoanbytheLendertotheBorrowershallbeevidencedbythepromissorynoteoftheBorrowerpayabletotheLender,intheformofExhibitAattachedhereto(the“Note”)anddatedasofthedatehereof,evidencingallobligationsoftheBorrowertotheLenderarisingundertheLoan.ThisAgreement,theNoteandallotherdocumentsandinstrumentsexecuted,submitted,ortobesubmittedbytheBorrowertotheLenderinconnectionwiththeLoan,includingthepledgeagreemententeredintobetweentheLenderandtheBorrower,arehereinaftercollectivelyreferredtoasthe“LoanDocuments”.
NotwithstandinganyotherprovisionofthisAgreementoranyotherLoanDocument,theBorrowerandtheLenderintendthattheNoteandanyinterestandprincipalandinterestduethereunderbeissuedandmaintainedin“registeredform”withinthemeaningofSections163(f),871(h)
(2)and881(c)
(2)oftheCodeandanyrelatedregulations(andanyotherrelevantorsuccessorprovisionsoftheCodeorsuchregulations).Theright,titleandinterestoftheLenderanditsassigneesinandtotheLoan,includinganyinterestandprincipalduehereunder,shallbetransferableonlyuponnotationofsuchtransferintheregistertobemaintainedbytheBorrowerasprovidedbelowandnoassignmentthereofshallbeeffectiveuntilrecordedtherein.TheBorrowershallkeeparegisterinwhichtheBorrowershallprovidefortherecordationofthenameandaddressof,andtheamountofoutstandingprincipalandinterestowingto,theLender.TheBorrowerandtheLendershalltreateachpersonwhosenameisrecordedintheregisterpursuanttothetermshereofastheLenderforallpurposes.TheregistershallbeavailableforinspectionbytheLenderfromtimetotimeuponreasonablepriornotice.
RepresentationandWarranties
TheBorrowerrepresentsandwarrantstotheLenderthatthefollowingstatementsaretrueandaccurateasofthedatehereof,exceptascommunicatedtotheLenderinwritingandapprovedbytheLenderinwriting:
1)ThisAgreementconstitutestheBorrower’svalidandlegallybindingobligationinaccordancewithitsterms.
2)TheBorrowerisalimitedliabilitycompanydulyorganized,validlyexistingandingoodstandingunderthelawsofthePRCandhasallrequisitecorporatepowerandauthoritytoownandoperateitspropertiesandtocarryonitsbusinessaspresentlyconducted,andisdulyqualifiedtodobusinessandisingoodstandingasalimitedliabilitycompanyineachjurisdictionwhereinthecharacterofthepropertiesownedorleasedbyitthereinorinwhichthetransactionofitsbusinessthereinmakessuchqualificationnecessary.
3)TheBorrowerhasfullpowerandauthoritytoenterintothisAgreementandtheotherLoanDocuments,tomaketheborrowingscontemplatedherein,toexecuteanddelivertheNoteandtheotherLoanDocuments,andtoincurtheobligationsprovidedforhereinandtherein(collectively,the“Obligations”),allofwhichhavebeendulyauthorizedbyallnecessaryandpropercorporateaction.NootherconsentorapprovalorthetakingofanyotheractioninrespectofmembersorofanypublicauthorityisrequiredasaconditiontothevalidityorenforceabilityofthisAgreement,theNote,theotherLoanDocumentsoranyotherinstrument,documentoragreementdeliveredinconnectionherewithortherewith.
4)Therearenoactions,suitsorproceedingspendingagainsttheBorrowerbeforeanycourtoradministrativeagency,norareanyactions,suitsorproceedingsthreatened,that,eitherinanycaseorintheaggregate,wouldmateriallyandadverselyaffectthefinancialcondition,assetsoroperationsoftheBorrower,norarethereanysuchactions,suitsorproceedingsthatquestionthevalidityofthisAgreement,theNote,anyoftheotherLoanDocuments,oranyactiontobetakeninconnectionwiththetransactionscontemplatedherebyorthereby.
5)Theexecution,deliveryandperformancebytheBorrowerofthisAgreement,theNoteandtheotherLoanDocuments:
(i)donotviolateanyprovisionofthecertificateofformationorlimitedliabilitycompanyagreementoftheBorrower,(ii)donotviolateanyorder,decreeorjudgment,oranyprovisionofanystatute,ruleorregulation,(iii)donotviolateorconflictwith,resultinabreachoforconstitute(withnoticeorlapseoftime,orboth)adefaultunderanyshareholderagreement,stockpreferenceagreement,mortgage,indentureorothercontractorundertakingtowhichtheBorrowerisaparty,orbywhichanyofitspropertyisbound,and(iv)donotresultinthecreationorimpositionofanylien,chargeorencumbranceofanynaturewhatsoeveruponanypropertyorassetsoftheBorrower.
6)WithrespecttoalltaxableperiodsoftheBorrower,theBorrowerhasfiledallmaterialtaxreturnsthatarerequiredtobefiledandallmaterialfederal,state,municipal,franchiseandothertaxesshownonsuchfiledreturnshavebeenpaidexcepttaxesthatarebeingcontestedingoodfaith.
7)TheBorrowerisnotindefaultwithrespecttoanyorder,writ,injunctionordecreeofanycourtorofanyfederal,state,municipalorothergovernmentaldepartment,commission,board,bureau,agency,authorityorofficial;isnotinviolationofanylaw,statute,ruleorregulationtowhichitoritspropertiesisoraresubjectandhasnotreceivednoticeofanysuchdefaultfromanyparty;andisnotindefaultinthepaymentorperformanceofanyofitsobligationstoanythirdpartiesorintheperformanceofanymortgage,indenture,lease,contractorotheragreementtowhichitisapartyorbywhichanyofitsassetsorpropertiesarebound.
8)NoEventofDefaultoreventwhichwiththegivingofnotice,thepassageoftimeorbothwouldconstituteanEventofDefaulthasoccurredand/oriscontinuing.
9)TheBorrowerhasnounsatisfiedmaterialjudgments.
AffirmativeCovenants
DuringthetermoftheLoan,theBorrowershall:
1)FurnishtotheLendersuchinformationconcerningtheBorrower’sbusiness,properties,conditionoroperations,financialorotherwise,astheLendermayfromtimetotimereasonablyrequest;
2)Maintainitsexistenceingoodstandingandcomplywithallvalidandapplicablestatutes,rulesandregulations;
3)Complywithallstatutesandgovernmentregulations,licensesandpermits,allasmaybeamendedfromtimetotime,andpayalltaxes,assessments,governmentalchargesorlevies,orclaimsforlabor,supplies,rentandotherobligationsmadeagainstitoritspropertyasandwhenduewhich,ifunpaid,mightbecomealienorchargeagainsttheBorroweroritsproperties,exceptliabilitiesbeingcontestedingoodfaithandagainstwhich,ifrequestedbytheLender,theBorrowershallsetupreservesin
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