Facility Offer Letter
Exhibit 10.81
Facility Offer Letter
To: MFLEX Chengdu Co., Ltd:
According to the application from MFLEX Chengdu Co., Ltd (Applicant), our bank agrees to issue this Facility Offer Letter (Letter) for the purpose of comprehensive credit line. The details of the Letter are listed as follows:
1. The total amount of credit line granted by the Letter should not exceed USD11,000,000.00 (revolving use; short-term loan: US$ 9 million; trade financing business and letter of guarantee business: US$ 1 million; and undertaking capital business: US$ 1million).
Of such credit line, the loan interest rate of US dollar should not be lower than one-year Libor+550BPS; BPS should be negotiated and determined by both parties based on lending cost in domestic market of US dollar on actual loan day.
2. The purpose of such loan should comply with relevant laws and regulations, supervisory rules and policies.
3. Such loan will be approved to be granted after obtaining permission of verification procedures set by our bank and in compliance with loan conditions required by our bank.
4. The authoritative institution to approve such loan is Bank of China Sichuan Branch.
5. The Letter validates from the date of execution to October 17, 2012.
6. Laws of PRC shall apply to the Letter.
Bank of China
Chengdu Development West-Zone Sub-branch
President signature: /s/ Yang Zhaohui
March 23, 2012
The Price of Financing Service
Business | Price Quoted In the Market | MFLEX Price | ||||
USD | USD Loan | Negotiated by BOC and MFLEX according to the variation of market price | ||||
USD time deposit | Negotiated by BOC and MFLEX according to the variation of market price | |||||
USD Purchase | Selling Rate | Middle Rate | ||||
USD Sale | Buying Rate | Middle Rate | ||||
Account Fee | RMB 600.00 per year | Free | ||||
RMB | One-day Call | 0.95% | ||||
Seven-day Call | 1.49% | |||||
Agreement Deposit | 1.31% | |||||
Account Fee | RMB 360.00 per year | Free | ||||
Receipts Management | RMB 200.00 per year | Free | ||||
Remit | Outward Remittances(Overseas) Commission | 1 of amount, Min RMB50.00, Max RMB1000.00 | Free | |||
Outward Remittances(Overseas) Cable Charges | RMB 150.00 | USD 12.00 | ||||
Remittances(Domestic) Commission | 1 of amount, Min RMB50.00, Max RMB1000.00 | USD 5.00 | ||||
Remittances(Domestic) Cable Charges | RMB 10.00 | USD 1.00 | ||||
Import L/C | Opening | 1.5 of amount, Min RMB500.00;0.05% of amount for per season as the expiry extend for 3 months | 0.75 of amount, Min RMB500.00 | |||
Amendment | RMB 100.00 | |||||
Acceptance | 1 of amount per month, Min RMB150.00 | 0.5 of amount per month, Min RMB150.00 | ||||
Dishonor | RMB 200.00 | |||||
Buty-free Guarantee | 1 of amount for per season, Min RMB500.00 | 0.5 of amount for per season, Min RMB500.00 | ||||
Online Banking | USB-KEY | RMB 50.00 per person | Free | |||
Annual Charge | RMB 100.00 per person a year | Free |