Request for Credit Line Disbursement & Promissory Note (in NT Dollar)

EX-10.3 4 exhibit103-loanagreement0022.htm exhibit103-loanagreement0022.htm - Generated by SEC Publisher for SEC Filing

 

Request for Credit Line Disbursement
& Promissory Note (in NT Dollar)

TO: Hua Nan Commercial Bank  
 
Loan No. 1385-0089-1 Borrower’s Name: Color Stars, Inc.
Corporation Employer ID: 80179506 Individual ID:

 

I.      Disbursement Amount: NT$3,000,000
II.      For the needs of working capital and capital expenditure, Borrower hereby requests to disburse within the line of credit.
  (1) This disbursement is for:
Overdraft Secured Corporate debit Import Export
  overdraft card finance overdraft overdraft
Short-term working capital for Accounts payable to Security Exchange Bureau
securities of brokerage firm      
Short-term loan Short-term Med-term loan Med-term Working
  secured loan   secured loan capital loan
Long-term loan Long-term Domestic draft Working Others

 

     secured loan advance capital loan for 3rd ____________ party (2) Period of this loan: From July 29, 2011 to January 29, 2012 (3) Interest Rate: Annual percentage rage (APR) at _____% fixed.

     Based on your prime rate (see Explanations I) plus 0.126% APR (currently totaling 2.946% APR), prime rate adjustable every 3 months every month.

     Based on your 90-day money market average rate (see Explanations II) ____ plus ___% (currently totaling ____%APR), adjustable every 3 months from the date of loan booked.

     Based on your time deposit rate index (see Explanations III) ___ plus ___% (currently totaling ___%APR), adjustable every 3 months every month.

Based on Contract agreed by both parties. ______________________________________________________________

(4) In the case that above money market rate or time deposit rate index substantially deviated from market rate caused by irresistible event, you have to publish, 10 days prior to the change, in your bank lobby, website, or national newspaper, then issue a new rate based on discount rate published by Central Bank of Taiwan and adjusted with the difference between the preceding rate and discount rate.

(5) Computation of interest (in NT$):

a.      Short-term: Daily, based on 365 days.
  Interest = Balance of principal x 1/365 x days
b.      Med-term:
  If full month (see Explanations IV): Monthly.
  Interest = Balance of principal x %APR x 1/12 x months If not full month:
  (a) If not full month (see Explanations V): Based on weighted ratio (see

     Explanations VI) Interest = Balance of Principal x %APR x 1/12 x days/days of month (b) Full repayment of principal: Daily (If over 1 month, compute monthly interest for full months.) (c) Partial repayment of principal: Based on weighted ratio. Interest = Balance of Principal x %APR x 1/12 x days/days of month (6) Prepayment:

From the date of loan, interest payable on 29 day of month, principal due upon maturity. From the date of loan, monthly principal and interest are due on ____ day of month.

     From the date of loan, principal installment payable on ___ day of month, interest payable on monthly basis.

     From the date of loan, the first _____ months interest payable on _____ day of the month. Starting __th month, principal and interest are due monthly.

From the date of loan, the first _____ months interest payable on _____ day of the month.

Starting __th month, principal installment payable and interest payable on monthly basis.

 

III.      Please disburse funds according to following terms: (1) Indirect credit:
Guarantee Guarantee for corporate bonds Guarantee for commercial. paper
(2) Period: From to _____________.
  From to _____________.

 

  (3)      Fees: Fees are payable based on ____%APR. A term is 3 months. Less than 3 months is computed as one term. Upon maturity, is your bank’s guarantee is not yet released, additional fee will be negotiated by both parties.
IV.      The Borrower hereby agrees this Request for Credit Line Disbursement & Promissory Note be a part
  of      Loan Agreement.
V.      Declaration: All directors and supervisors of the Board and other fiduciary representatives’ act as
  guarantors      of this Line of Credit will remain incumbent while this note is disbursed.

Applicant/Borrowing Entity: COLOR STARS, INC.

Address: 10F, NO. 566, Jungjeng Rd., Sindian District, New Taipei City 23148, Taiwan, R. O. C.

Representative: WEI-RUR CHEN / PRESIDENT

Date: July 29, 2011