Document:

f8k092611ex10i_bluebridge.htm

Exhibit 10.1

 

Contract on Transfer of Capital Contribution

Transferor: Guangdong Yi An Investment Consulting Co., Ltd.

Transferee: Guangzhou Xiang Ran Trading Co., Ltd.

Pursuant to related rules of Article 72 of the Company Law of the People's Republic of China and the resolutions of the shareholders, the following agreement is hereby made in respect of transfers of the capital contribution in Guangdong Hua Ying Investment Consulting Co., Ltd.:

1. Guangdong Yi An Investment Consulting Co., Ltd shall transfer the original capital contribution of RMB 16.66 million representing 51.0104% of the registered capital to Guangzhou Xiang Ran Trading Co., Ltd. in a consideration of RMB 16.66 million.

 

2. The Transferee shall make full payment of the consideration to the Transferor prior to September 26, 2011.

 

3. As of September 27, 2011, the creditor’s rights and the debts of the Company have been fully and completely accounted, and have been accepted by both Parties. Commencing from September 26, 2011, Guangzhou Xiang Ran Trading Co., Ltd. shall become the Company’s shareholder, who shall adopt the articles of association of the company, participate in the shareholders’ rights and interests, and bear the responsibilities pursuant to the Article 3 of the Company Law of the People's Republic of China.

 

4. The dividends shall be calculated based on the Execution Date of this Contract, being that the Transferor shall be entitled to the dividends before the transfer, and the Transferee shall be entitled to the dividends after the transfer.

 

5. Commencing from the date of the transfer, Guangdong Yi An Investment Consulting Co., Ltd. shall be no longer the shareholder of the Company, and shall not conduct any activities in the name of the Company.

 

  

  

  

 

6. Both Parties shall settle any disputes caused by or relating to this Contract through friendly discussion. If discussion fails, such disputes shall be brought before arbitration commission for arbitration or filed to the people’s court.

 

7. Other terms and conditions:_______NA_________.

 

8. This Contract shall be executed in 6 counterparts, each of which shall be deemed an original and have the same legal effect, among which one copy is for the company registration authority, one copy for each shareholder, and the remaining one is for the Company.

 

9. This Contract shall become effective from the date of execution by the Transferor and the Transferee.

 

Transferor: Guangdong Yi An Investment Consulting Co., Ltd. (Seal)

 

 

Transferee: Guangzhou Xiang Ran Trading Co., Ltd. (Seal)

 

 

Other shareholders (Signature or Seal): Dixun Wang,    Changyan Yu

 

 

Confirmed by: Guangdong Hua Ying Investment Consulting Co., Ltd. (Seal)

 

 

 

 

September 26, 2011f8k092711ex10i_bluebridge.htm

Exhibit 10.1

 

还款协议Repayment Agreement

 

甲方:广东怡安投资咨询有限公司

 

Party A: Guangdong Yi An Investment Consulting Co., Ltd.

 

法定代表人:王永鸿

 

Legal Representative: Wang Yonghong

 

地址:广州市天河区黄埔大道西76号2716房

 

Address: Room 2716, 76 Huang Pu Ave. West, Tianhe District, Guangzhou

 

乙方:东莞市穗乐贸易有限公司

 

Party B: Dongguan Suile Trading Co., Ltd.

 

法定代表人:方穗乐

 

Legal Representative: Suile Fang

 

丙方:广州杉富谐贸易有限公司

 

Party C: Guangzhou Shan Fu Xie Trading Co., Ltd.

 

授权代表或法定代表人:Authorized Person or Legal Representative:

 

丁方:Party D:

 

方穗乐 Suile Fang

 

身份证号码:440111197712094219

 

ID No.: 440111197712094219

 

林小娟Xiaojuan Lin

 

身份证号码: 441521198408032363

 

ID No.: 441521198408032363

 

  

1

  

 

鉴于:Whereas:

1、乙方对甲方享有人民币1666万元的债权,乙方委托丙方代收该1666万元的款项;

2、甲方同意向丙方支付该等款项,丙方同意代乙方收款;

3、丁方是乙方的股东,合共持有乙方100%的股权。

1. Party B owns a creditor’s rights of RMB 16.66 million due from Party A, and Party B entrusts Party C to collect the repayment of this RMB 16.66 million;

2. Party A agrees to make such repayment to Party C and Party C agrees to collect the repayment on behalf of Party B;

3. Party D is the shareholder of Party B, and collectively holds 100% equity interests of Party B.

经各方友好协商,各方同意达成本协议约定的条款和条件,以资信守:After friendly negotiation by all Parties, all Parties have agreed on the following terms and conditions:

	
第一条  

	
  甲方应在本协议签署后,根据乙方的指示,向丙方支付1666万元的欠款。丙方同意代乙方收取该等款项。

 

Article 1 Party A shall pay back RMB 16.66 million to Party C as instructed by Party B after the execution of this Agreement. Party C agrees to collect such repayment on behalf of Party B.

	
第二条  

	
  各方同意,甲方依据本协议第一条向丙方支付欠款后,则甲方对乙方的债务全部 清偿完毕,乙方及丁方不得再向甲方主张任何权利。

 

Article 2 All Parties agree that all the debts owed by Party A to Party B shall be settled after Party A makes the repayment to Party C pursuant to this Article I, and Party B and Party D shall not make any claims against Party A.

	
第三条  

	
  各方同意,甲方在履行完本协议约定的义务后,如果甲方被任何法律及法院认定为仍然对乙方、丁方及其债权人负有任何清偿义务或付款义务的,则乙方或丁方应保证甲方免于遭受任何损失或损害,具体措施包括但不限于:直接赔偿甲方的全部损失、放弃对甲方的债权。

 

Article 3 All Parties agree that, if Party A is deemed by any laws and courts to be liable for any settlement or repayment for Party B, Party D and their creditors after Party A has performed the duties specified herein, Party B or Party C shall indemnify and hold harmless Party A from and against any and all losses and damages, which include but without limitation to direct compensations for the total losses incurred by Party A and waiver of the creditor’s rights against Party A.

 

  

2

  

 

	
第四条  

	
  本协议的变更或修改应经各方协商一致并以书面形式作出。本协议的变更和修改构成本协议不可分割的一部分。

 

Article 4 Any change and amendment to this Agreement shall be agreed by all parties and made in writing. Any such change and amendment shall constitute an integral part of this Agreement.

	
第五条  

	
  经各方协商一致,可通过签署书面文件的方式解除本协议。

 

Article 5 This Agreement shall be terminated in writing by all Parties as agreed.

	
第六条  

	
  本协议受中华人民共和国法律管辖。

 

Article 6 This Agreement shall be governed by the laws of the People’s Republic of China.

	
第七条  

	
  凡因履行本协议所发生的一切争议,各方均应通过友好协商的方法解决。协商不成的,任何一方均可将争议提交广州仲裁委仲裁。仲裁裁决是终局的,对各方均有约束力。

 

Article 7 In the event of disputes, any such disputes shall be settled through friendly negotiations by all Parties. If such negotiation fails, each Party shall have the right to submit to Guangzhou Arbitration Commission for arbitration. The award by the arbitration shall be final and binding on each Party.

	
第八条  

	
  本协议未尽事宜,经各方协商,可另行签订书面补充协议,补充协议与本协议具有同等法律效力。

 

Article 8 Additional agreements may be executed in writing in respect of any matter not specified herein, and such additional agreements shall have the same legal effects as this Agreement.

	
第九条  

	
  本协议一式五份,各方各执一份。

 

Article 9 This Agreement shall be executed in five counterparts and each Party shall retain one copy.

	
第十条  

	
  本协议自各方签署之日起生效,对各方具有约束力。

 

Article 10 This Agreement shall become effective from the date of execution and shall be binding on each Party.

(本页以下空白,无正文。)

The remainder of this page is intentionally left blank.

  

3

  

 

(本页空白,为签字页。)[Signature Pages Follow]

甲方:广东怡安投资咨询有限公司 Party A: Guangdong Yi An Investment Consulting Co., Ltd.

 

法定代表人:Legal Representative:

 

乙方:东莞市穗乐贸易有限公司 Party B: Dongguan Suile Trading Co., Ltd.

 

法定代表人:方穗乐 Legal Representative: Suile Fang

 

丙方:广州杉富谐贸易有限公司 Party C: Guangzhou Shan Fu Xie Trading Co., Ltd.

 

授权代表或法定代表人:Authorized Person or Legal Representaive:

 

丁方:Party D:

 

方穗乐(签署)Suile Fang (Signature)

 

林小娟(签署)Xiaojuan Lin (Signature)

 

 

4EX-4.1

FOURTH AMENDMENT

THIS FOURTH AMENDMENT, dated as of September 30, 2011 (this “Amendment”), is to the
Third Amended and Restated Credit Agreement (as heretofore amended, the “Credit Agreement”)
dated as of October 30, 2008 among PENSKE AUTOMOTIVE GROUP, INC. (the “Company”), various
financial institutions (the “Lenders”) and MERCEDES-BENZ FINANCIAL SERVICES USA LLC
(formerly DCFS USA LLC), as agent for the Lenders (the “Agent”). Unless otherwise defined
herein, terms defined in the Credit Agreement are used herein as defined in the Credit Agreement.

WHEREAS, the parties hereto desire to amend the Credit Agreement in certain respects;

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration
(the receipt and sufficiency of which are hereby acknowledged), the parties hereto agree as
follows:

SECTION 1 AMENDMENT. Effective on the Amendment Effective Date (defined below), the
Credit Agreement shall be amended as follows:

1.1 Section 1.1 of the Credit Agreement shall be amended as follows:

(a) Each of the following definitions in Section 1.1 of the Credit Agreement shall be amended
and restated in its entirety as follows:

Commitment means, as to any Lender, such Lender’s commitment to make Revolving Loans
and/or to issue or participate in Letters of Credit under this Agreement. Each Lender’s Pro
Rata Share of the Revolving Commitment Amount and the L/C Commitment Amount as in effect on
the Fourth Amendment Effective Date is set forth on Schedule 2.1.

Interest Rate means, for each day, a rate per annum equal to the sum of (a) (i) in
the case of any day from and including the first day of each calendar month through and
including the 15th day of such calendar month, the LIBO Rate for the first day of such
calendar month and (ii) in the case of any day from and including the 16th day of each
calendar month through and including the last day of such calendar month, the LIBO Rate for
the 16th day of such calendar month (the rate set forth in this clause (a) being the
“Base LIBO Rate”) plus (b) (i) in the case of Revolving Loans, (x) if the Total
Outstandings is less than or equal to the Borrowing Base, a margin of two and one-half
percent (2.50%) per annum, and (y) if the Total Outstandings exceed the Borrowing Base, then
(A) a margin of three and one-half percent (3.50%) per annum shall apply to the portion of
the Revolving Loans equal to the amount by which the Total Outstandings exceed the Borrowing
Base and (B) a margin of two and one-half percent (2.50%) per annum shall apply to the
portion of Revolving Loans not described in the foregoing clause (A) (with each
determination of the Borrowing Base in this clause (i) to be effective as of the
first day of the calendar month during which the applicable Borrowing Base Certificate is
delivered) and (ii) in the case of the Term Loans, a margin of two and one-half percent
(2.50%) per annum. Notwithstanding the foregoing, at any time an Event of Default exists,
the applicable margin shall be increased by two percent (2.00%) per annum. For purposes of
this definition, “LIBO Rate” means, for each date of calculation, (1) the rate of
interest (rounded upwards, if necessary, to the next 1/16th of 1%) published in The Wall
Street Journal on such day (or the immediately preceding Business Day, if such date is
not a Business Day) in its “Money Rates” column as the one-month London Interbank Offered
Rate for Dollar-denominated deposits (if The Wall Street Journal ceases to publish
such a rate or substantially changes the methodology used to determine such rate, then the
rate shall be the rate of interest (rounded upwards, if necessary, to the next 1/16th of 1%)
published by Reuters Monitor Rates Service on such day (or the immediately preceding
Business Day, if such date is not a Business Day) as the one-month London Interbank Offered
Rate for Dollar-denominated deposits) or (2) if such rate is not published or available,
such rate as shall be otherwise independently determined by the Agent on a basis
substantially similar to the methodology used by The Wall Street Journal on the date
of this Agreement.

Pro Rata Share means, with respect to any Lender, the percentage which (a) the
aggregate amount of such Lender’s Commitments is of (b) the Commitments of all Lenders;
provided that, after any of the Commitments have been terminated, “Pro Rata Share”
shall mean, as to any Lender, the percentage which the sum of the aggregate principal amount
of such Lender’s Revolving Loans plus the participations of such Lender in all
Letters of Credit plus the aggregate principal amount of such Lender’s Term Loans is
of the sum of the aggregate principal amount of all Revolving Loans plus the Stated
Amount of all Letters of Credit plus the aggregate principal amount of the Term
Loan. The Pro Rata Share of each Lender as of the Fourth Amendment Effective Date is set
forth on Schedule 2.1.

Revolving Commitment Amount means $375,000,000, as reduced from time to time
pursuant to Section 6.1.

(b) following definition shall be added to Section 1.1 of the Credit Agreement in its proper
alphabetical position:

Fourth Amendment Effective Date means the “Amendment Effective Date” under and as
defined in the Fourth Amendment hereto dated as of October 1, 2011.

1.2 Section 5.2 of the Credit Agreement shall be deleting in its entirety and replaced with
the following:

Non-Use Fee. The Company agrees to pay to the Agent for the account of the Lenders
a non-use fee (the “Non-Use Fee”) equal to 0.30% per annum (computed for the actual
number of days elapsed on the basis of a year of 360 days) of an amount equal to the
Commitments (other than the Commitments to issue Letters of Credit) less the Revolving
Outstandings. Such Non-Use Fees shall accrue from and including the Effective Date to and
excluding the Termination Date and be payable in arrears (x) at all times prior to the
Termination Date, on an annual basis for each year, on the 20th day of the next
succeeding January and (y) on the Termination Date. Each Lender shall be entitled to
receive such Lender’s Pro Rata Share of the Non-Use Fee.

1.3 Section 5.3 of the Credit Agreement shall be amended as follows:

(a) Subsection 5.3(b) shall be deleted in its entirety and replaced with the following:

[Reserved.]

(b) Subsection 5.3(d) shall be deleted in its entirety and replaced with the following:

All of the Agent’s fees payable under Section 5.3(a) shall be computed for the
actual number of days elapsed on the basis of a year of 360 days.

1.4 Schedule 2.1 of the Credit Agreement shall be deleted in its entirety and replaced with
Schedule 2.1 hereto.

SECTION 2 REPRESENTATIONS AND WARRANTIES. The Company represents and warrants to the
Agent and the Lenders that: (a) the representations and warranties made in Section 8 of
the Credit Agreement are true and correct on and as of the date hereof with the same effect as if
made on and as of the date hereof (except to the extent relating solely to an earlier date, in
which case they were true and correct as of such earlier date); (b) no Event of Default or
Unmatured Event of Default exists or will result from the execution of this Amendment; (c) no event
or circumstance has occurred since the Effective Date that has resulted, or would reasonably be
expected to result, in a Material Adverse Effect; (d) the execution and delivery by the Company of
this Amendment and the performance by the Company of its obligations under the Credit Agreement as
amended hereby (as so amended, the “Amended Credit Agreement”) (i) are within the corporate
powers of the Company, (ii) have been duly authorized by all necessary corporate action, (iii) have
received all necessary approval from any governmental authority and (iv) do not and will not
contravene or conflict with any provision of any law, rule or regulation or any order, decree,
judgment or award which is binding on the Company or any of its Subsidiaries or of any provision of
the certificate of incorporation or bylaws or other organizational documents of the Company or of
any agreement, indenture, instrument or other document which is binding on the Company or any of
its Subsidiaries; and (e) the Amended Credit Agreement is the legal, valid and binding obligation
of the Company, enforceable against the Company in accordance with its terms, except as
enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the
enforcement of creditors’ rights generally or by equitable principles relating to enforceability.

SECTION 3 CONDITIONS TO EFFECTIVENESS. The amendments set forth in Section 1
above shall become effective as of the date (the “Amendment Effective Date”) when the
following conditions precedent have been satisfied, each in form and substance satisfactory to the
Agent:

3.1 Amendment. The Agent shall have received a counterpart of this Amendment executed
by the Company and the Lenders (or, in the case of any party other than the Company from which the
Agent has not received a counterpart hereof, facsimile confirmation of the execution of a
counterpart hereof by such party).

3.2 Resolutions. Certified copies of resolutions of the Board of Directors of the
Company authorizing the execution, delivery and performance by the Company of this Agreement, the
Notes and the other Loan Documents to which the Company is a party; and certified copies of
resolutions of the Board of Directors of each other Loan Party authorizing the execution, delivery
and performance by such Loan Party of each Loan Document to which such entity is a party.

3.3 Consents, etc. Certified copies of all documents evidencing any necessary
corporate, limited liability company or partnership action, consents and governmental approvals (if
any) required for the execution, delivery and performance by the Company and each other Loan Party
of the documents referred to in this Section 3.

3.4 Incumbency and Signature Certificates. A certificate of the Secretary or an
Assistant Secretary (or other appropriate representative) of each Loan Party certifying the names
of the officer or officers of such entity authorized to sign the Loan Documents to which such
entity is a party, together with a sample of the true signature of each such officer (it being
understood that the Agent and each Lender may conclusively rely on each such certificate until
formally advised by a like certificate of any changes therein).

3.5 Opinion of Counsel. An opinion of counsel reasonably satisfactory to the Agent.

3.6 Solvency Certificate. A Solvency Certificate, substantially consistent with the
form of Exhibit F to the Credit Agreement, executed by the Chief Financial Officer of the Company.

3.7 Governing Documents. A certificate of the Secretary or Assistant Secretary (or
other appropriate representative) of each Loan Party certifying that either (i) there has been no
change or amendment (other than those attached to such certificate) to its respective articles of
incorporation, by-laws, certificate of formation or operating agreement (as applicable) or other
governing documents since certified copies of such documents were provided to the Agent in
connection with the Existing Agreement or (ii) such documents have been delivered to the Agent in
connection with the closing hereunder.

3.8 Borrowing Base Certificate. A Borrowing Base Certificate dated as of the
Amendment Effective Date.

3.9 Reaffirmation. The Agent shall have received a counterpart of the Reaffirmation
of Loan Documents, in form and substance satisfactory to the Agent, executed by each Loan Party
other than the Company.

3.10 Payment of Interest and Fees. Evidence of payment by the Company of all accrued
and unpaid interest, fees, costs and expenses to the extent then due and payable on the Amendment
Effective Date, together with all Attorney Costs of the Agent to the extent invoiced prior to the
Amendment Effective Date, plus such additional amounts of Attorney Costs as shall
constitute the Agent’s reasonable estimate of Attorney Costs incurred or to be incurred by the
Agent through the closing proceedings (provided that such estimate shall not thereafter
preclude final settling of accounts between the Company and the Agent).

3.11 Other Documents. Such other documents as the Agent or any Lender may reasonably
request.

SECTION 4 MISCELLANEOUS.

4.1 Continuing Effectiveness, etc. As hereby amended, the Credit Agreement shall
remain in full force and effect and is hereby ratified and confirmed in all respects. All
references in the Credit Agreement, the Notes, each other Loan Document and any similar document to
the “Credit Agreement” or similar terms shall refer to the Amended Credit Agreement.

4.2 Counterparts. This Amendment may be executed in any number of counterparts and by
the different parties on separate counterparts, and each such counterpart shall be deemed to be an
original but all such counterparts shall together constitute one and the same Amendment.

4.3 Expenses. The Company agrees to pay the reasonable costs and expenses of the
Agent (including reasonable fees and disbursements of counsel, including, without duplication, the
allocable costs of internal legal services and all disbursements of internal legal counsel) in
connection with the preparation, execution and delivery of this Amendment.

4.4 Severability of Provisions. In the event that any provision in or obligation
under this Amendment shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations, or of such provision or
obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

4.5 Section Headings. The various headings of this Amendment are inserted for
convenience only and shall not affect the meaning or interpretation of this Amendment or the
Agreement or any provision hereof or thereof.

4.6 Governing Law. This Amendment shall be a contract made under and governed by the
laws of the State of New York applicable to contracts made and to be wholly performed within the
State of New York.

4.7 Successors and Assigns. This Amendment shall be binding upon the Company, the
Lenders and the Agent and their respective successors and assigns, and shall inure to the benefit
of the Company, the Lenders and the Agent and the successors and assigns of the Lenders and the
Agent.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

Delivered as of the day and year first above written.

PENSKE AUTOMOTIVE GROUP, INC.

By:/s/ David K. Jones

Title: Executive Vice President and CFO

MERCEDES-BENZ FINANCIAL SERVICES USA LLC, as Agent,

as Issuing Lender and as a Lender

By: /s/ Michele Nowak

Title: Credit Director, National Accounts

TOYOTA MOTOR CREDIT CORPORATION,

as a Lender

By: /s/ Anna Lee

Title: National Dealer Credit ManagerSCHEDULE

2.1

LENDERS AND PRO RATA SHARES

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Share of Revolving	 	Share of L/C	 	 	 	 
	Lender	 	Commitment Amount	 	Commitment Amount	 	Term Loans	 	Pro Rata Share
	Mercedes-Benz

Financial Services

USA LLC

	 	$259,615,384.62

	 	$6,923,076.92

	 	$92,769,230.77

	 	69.2307692307692%

	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Toyota Motor

Credit Corporation

	 	$115,384,615.38

	 	$3,076,923.08

	 	$41,230,769.23

	 	30.7692307692308%

	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTAL

	 	$	375,000,000.00	 	 	$	10,000,000.00	 	 	$	134,000,000.00	 	 	 	100	%

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