Translation of CTBC Bank Credit Line Approval, dated September 12, 2018
Exhibit 10.79
CTBC Bank Co., Ltd.
Notification of Credit Line Approval
Next Annual Review Date: August 31th, 2019
| 1. Credit Grantee Name and Joint and Several Guarantor: | |||||
| Credit Grantee / Legal Representative
| China United Insurance Services, Inc. CH005233 Yi-Hsiao Mao | Joint and Several Guarantor | Law Insurance Broker Co. Ltd. | ||
| Co-Issuer of a Negotiable Instrument | Law Insurance Broker Co. Ltd. | ||||
| Promissory Note Issuer | – | ||||
| 2. Credit Line Approval (Including Financial Transaction Limit) | |||||
| (1) Details of Approved Credit Line | |||||
| Credit Type | Product Type | Amount | Term (months) | Interest Rate and/or Administrative Fees | |
| General Credit-Short-Term with No Collaterals No.TW00097508 | Short Term –Foreign Currency | USD 1,500,000 | 12 | Foreign Currency Interest Rate: Negotiated Price | |
| (2) Terms and Conditions of Credit Granting | |||||
| General Provisions | 1. Use of Funds: Pay for operating expenses; repay the disbursement fee of operating expense of subsidiary companies 2. The following part of this case is payable, which refers to the funds that will be allocated over USD1,000,0000 after Law Insurance Broker Co. Ltd. finishing distributing interests to upper layer shareholders in August 2019. | ||||
| Special Provisions | - | ||||
| (3) Notes After your company signs this notification, as the market condition changes, CTBC reserves the rights to approve or reject your company’s application for withdrawing or using the credit line based on the original interest rate/administrative charge. If your company indeed demands funds, your company can apply for drawdown only after both parties have agree on the interest rate/administrative charge or the credit line, and record the information on the relevant drawdown application. Any matter not addressed herein shall be resolved by reference to CTBC’s credit line agreement and relevant policies.
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CTBC Bank Co., Ltd.
China United Insurance Service, Inc. (seal)
Date: September 12, 2018
