BeforesigningthisContract,BorrowershouldreadtheContractcarefully,especiallythesectionsmarkedwith***,andshouldconfirmthatBorrowerhasnodisagreementwiththeContract.BANKOFCOMMUNICATIONSLOANCONTRACT(ForMediumorShortTermWorkingCapitalLoan)LoanNo.:WeiJiaoYin2001Loan6-031Borrower:WeifangFuhuaAmusementParkCo.,Ltd.Address:EastEndofDongFengEastStreet,WeifangCityLegalrepresentative:JieYangLender:WeifangBranchoftheBankofCommunicationsAddress:358DongFengEastStreetAccordingtoapplicablelawsandregulationsofthePeople'sRepublicofChina(the"PRC"),theBorrowerandLender,afterreachinganagreementthroughnegotiations,herebyenterintothiscontractpursuanttoBorrower'sapplicationtoLenderforaworkingcapitalloan(the"Loan")Article1.TheLoan1.1.Typeofcurrency:RMB1.2.Loanamount(full-formcharacters):Fourhundredandfiftythousandyuanexactly.TheactualprincipalborrowedbyBorrowershallbethenumberwrittenonthefinancialvoucherissuedbyLender.1.3.Loanterm:July24,2001toJune20,20021.4.TheLoanunderthisLoanContractshallbesolelyforindustrial/businessuse.BorrowershallnotdivertthefundsunderthisLoanContracttoanyotherpurpose.Article2.InterestRateandInterestCalculation2.1.Interestrate:5.3625%,basedon30daysinamonthand360daysinayear.2.2.DuringthetermofthisLoanContract,interestmaybechangedasprescribedbythePeople'sBankofChinawhensaidBankadjustsitsinterestrateorratecalculationmethod,inwhichcaseBorrower'sapprovalisnotnecessary.2
2.3.Theformulaforcalculatingtheinterestisasfollows:Interestontheloan=(theprescribedinterestrateunderthisLoanContract)x(Loanamount)x(actualdaysofuse),whereactualdaysofuseiscalculatedfromthedaytheLoanisissued.2.4.SettlementofinterestunderthisLoanContractistobecalculatedpermonth.Thesettlementdateisthe20thdayofeachmonth.AllprincipalandinterestshallbepaidinfullonthedaythetermoftheLoanexpires.Article3.ReleaseoffundsundertheLoan3.1.BorrowermayapplyforreleaseoffundsundertheLoanContract,atonetimeoratdifferenttimes,withinthefixedperiod,underArticle1.3hereof.However,eachtimeBorrowermustmaketheapplicationtoLenderatleast3bankingdaysinadvance.3.2.LendershallhavetherighttoexaminethefollowingissuesbeforereleasingfundsundertheLoanandshalldecidewhethertoreleasefundsbasedonresultsoftheexamination:(1)whetherBorrowerhasperformedalllegally-requiredproceduressuchasobtaininggovernmentlicenses,approvalsandregistrationandotherproceduresLendermayrequireofBorrower;(2)Whetherarelatedguarantycontractiscurrentlyineffect.3.3.LendershallreleasefundsatonetimeoratdifferenttimestoBorroweraccordingtotheLoanVoucher;and3.4.ThefundsreleasedateandamountshallbeasrecordedintheLoanVoucher.Article4.RepaymentoftheLoan:4.1.ThedateofrepaymentofprincipalunderthisLoanContractshallbeasrecordedintheLoanVoucher;4.2.BorrowershallrepaytheprincipalandinterestunderthisLoanContractinfullontheduedate.4.3.***BorrowerherebyirrevocablyauthorizesLender,ontheLender'sowninitiative,towithdrawfundsfromBorrower'sdepositaccountwiththeBankofCommunications.4.4.BorrowershallrepayprincipalandinterestinthecurrencyprovidedinArticle1.1above.4.5.***BorrowermayrepaytheLoaninadvanceuponapprovalfromLender.3LenderhastherighttocollecttheinterestfortheperiodbetweenthedateoftheprepaymentandthedateofrepaymentrecordedintheLoanVoucherattheratespecifiedinthisLoanContract.Article5.***Borrower'sDeclarationandWarranties5.1.BorroweracceptsandshallabidebyLender'sbusinesssystem,operationalpract...