Credit Line Contract
EXHIBIT 10.96
Credit Line Contract
Party A:MFLEX Suzhou Co., Ltd.
Principal office address:68 Nanhu Road, Dongwu Industrial Park, Suzhou
Postal code: 215128 | Legal representative: Lance Jin |
Fax: | Telephone: 0512-65130088 |
Party B: China Construction Bank Suzhou Industry Park Sub-Branch
Principal office address: No. 158 Wang Dun Road, Suzhou Industry Park
Postal code:215021 | Principal: WEI XIN |
Fax:0512-62781092 | Telephone: 0512-65130088 |
Pursuant to the relevant laws and after adequate consultation, Party A and Party B reached and agreed to be bound by the following terms and conditions:
Article 1 Amount of Credit Line
Party B hereby provides Party A with a credit line of no more than (in words) RMB Three Hundred Million Yuan Only which can be used for loans in both RMB and any foreign currency, issuance of letters of guarantee, discount and other services with which Party B agrees to Provide Party A.
Article 2 Term of Credit Line
The term of the credit line hereunder shall commence on May 6, 2016 and end on May 5, 2017 and the date of expiration of any specific transaction under the credit line is not restricted by fact that such term expires. Upon the expiration of the term, the credit that has not been used will be automatically terminated.
Article 3 Use of Credit Line
The execution of this Contract does not constitute a mandatory obligation of Party B to provide the said banking services to Party A. If Party A needs to use the credit line hereunder, Party A shall submit an application therefor within the line on a case-by-case basis. Party B has the right to review the application based on the operation and purpose of Party A to use the funds. If Party B approves the application, the two parties shall sign a separate transaction contract. The dates for commencement and end, amount, interest and interest rate of each single transaction shall be subject to the corresponding transaction contract and vouchers.
Article 4 Guarantee Method
In relation to any debt owed by Party A to Party B due to this Contract and any separate agreement, the parties hereto agree with the following method for guarantee:
Credit
Article 5 This Contract shall take effect as of its signature or chop by the legal/authorized representative (person in charge) of Party A and by the person in charge or authorized representative of Party B.
Party A (seal): [MFLEX Suzhou Co., Ltd. seal]
| Party B (seal): [China Construction Bank Suzhou Industry Park Sub-Branch seal]
|
Legal representative (signature): /s/ Lance Jin
| Person in charge (signature): /s/ Wei Xin |
|
Date: May 4, 2016 |
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