Letter for Loan Extension Application
Exhibit 10.32(b)
Letter for Loan Extension Application
November 5, 2003
To: ICBC Leshan City Branch
Dear Sirs,
In accordance with Section 3.2 of the loan facility (“Loan Agreement”) entered into on November 17, 2000 between Leshan-Phoenix Semiconductor Company Limited (“Leshan”) and the Industrial and Commercial Bank of China, Leshan hereby requests extensions for the draw-downs under the Loan Agreement, as set forth below. Pursuant to Section 3.2, Leshan requests that the original due date of each draw down be extended by three years. Kindly review and confirm in writing by November 14, 2003 the below loan extensions. All such extensions of maturity shall be on the same terms applied at the time of the original draw-down.
| (1) | Six loans in dollar with a total of US$16 million (US$ Portion as defined in the Loan Agreement). |
| Principal | Withdraw Date | Original Due Date | Extension Date | |||
| $3.5M | Dec 12, 2000 | Dec 12, 2003 | Dec 12, 2006 | |||
| $3M | Dec 13, 2000 | Dec 13, 2003 | Dec 13, 2006 | |||
| $3.5M | Dec 20, 2000 | Dec 20, 2003 | Dec 20, 2006 | |||
| $2M | Feb 13, 2001 | Feb 13, 2004 | Feb 13, 2007 | |||
| $2M | Mar 5, 2001 | Mar 5, 2004 | Mar 5, 2007 | |||
| $2M | Mar 8, 2001 | Mar 8, 2004 | Mar 8, 2007 |
| (2) | Five loans in RMB with a total of ¥33.2 million (RMB Portion as defined in the Loan Agreement). |
| Principal | Withdraw Date | Original Due Date | Extension Date | |||
| ¥4M | Dec 14, 2000 | Dec 14, 2003 | Dec 14, 2006 | |||
| ¥10M | Jan 9, 2001 | Jan 9, 2004 | Jan 9, 2007 | |||
| ¥10M | Feb 13, 2001 | Feb 13, 2004 | Feb 13, 2007 | |||
| ¥8M | Mar 6, 2001 | Mar 6, 2004 | Mar 6, 2007 | |||
| ¥1.2M | Mar 13, 2001 | Mar 13, 2004 | Mar 13, 2007 |
Yours sincerely,
| [In this space, translated from Mandarin, is the following: chop of ICBC Leshan City Branch bank with handwritten date of 11/7/03, the signature of the General Manager, Ms. Zhu Xuecun below the statement “agree to extensions.”] | Leshan-Phoenix Semiconductor Co. Ltd. | |||||
|
/s/ ALAN ZHANG | ||||||
| Alan Zhang, Financial Controller |
