Document:

Banking Facility Letter dated January 29, 2010

 EXHIBIT 4.47 

 

 

  

					
	Date:	  	29th January 2010	  	
			
	Our Ref:	  	OCC/LCC/TEAM 1/CAM	  	

 CONFIDENTIAL 

Kwong Lee Shun Trading Company Limited 
 12/F Kin
Tech Industrial Bldg, 
 26 Wong Chuk Hang Rd, 

Aberdeen, Hong Kong. 
 Attn: Mr. John
Sham  
 Dear Sirs, 

BANKING FACILITIES 

Standard Chartered Bank (Hong Kong) Limited

 (the “Bank”) is pleased to offer certain banking facilities including, amongst other facilities, those terms set out in this facility letter (the “Facilities”) to the Customer(s) below for the
purpose(s) of general working capital and trade finance and treasury requirement, subject to the Bank’s Standard Terms and Conditions for Banking Facilities and Services (including the Trade Finance Supplement) and Terms and Conditions for
Foreign Exchange Business attached and the terms and conditions set out in this facility letter. 
  

	A.	CUSTOMER(S): 

 Kwong Lee
Shun Trading Company Limited 
  

	B.	FACILITY LIMITS: 

  

	 	(1)	General Banking Facilities 

  

					
	 Type(s)
of Facility
  
	  	Facility Limit(s)	  	Designated Customer(s) and Sub-limit(s), if applicable
	 	 	 
	
1.      Trade Finance

(Please refer to Appendix 1 for product details.)
  
	  	HKD1,000,000.-  	  	 -

	 	 	 
	
(a) Trade Finance Group All
  
	  	 	  	
•       The Customer (HKD1,000,000.-)

	 	 	 
	
(b) Trade Finance Group 1
  
	  	 	  	
•       The Customer (HKD1,000,000.-)

	 	 	 
	
(c) Trade Finance Group 2
  
	  	 	  	
•       The Customer (HKD1,000,000.-)

	 		 
	
Total Facility Limit:
  
	  	HKD1,000,000.-  	  	 

Standard Chartered Bank (Hong Kong) Limited

 
 Origination & Client Coverage 

Credit Risk Control 
 11th Floor Standard
Chartered Tower 
 388 Kwun Tong Road Kwun Tong Hong Kong 

 

 

			
	Kwong Lee Shun Trading Company Limited	  	 Page
 2

  

					
	  

Notes:
  

•       The aggregate amounts outstanding under all Sub-limits shall not
at any time exceed the Facility Limit to which the Sub-limits relate and the aggregate amounts outstanding under all Facilities shall not at any time exceed the Total Facility Limit.

 

  
  

	 	(2)	Treasury Facilities (The Bank may arrange for these facilities to be available through Standard Chartered Bank or other members of the Standard Chartered Group
and separate documentation would be executed where necessary.) 

  

			
	 Type(s) of Facility

 
	  	Designated Customer(s) and Sub-limit(s),
if applicable
	 	 
	
1.      Foreign Exchange Contract(s)
(Spot and Forward)

 
 Facility Limit to be determined by the Bank on a case by case
basis.
  
	  	
•       The Customer

	 	 
	
2.      Currency and Interest Rate Risk Management

 
	  	
•       The Customer

 

	C.	PRICING AND CONDITIONS: 

  

							
	
1.      Trade Finance
	  	 Interest:

HKD/foreign currency import/export facilities: 0.75% per annum over the Bank’s standard bills finance rate.

 

	 	 
	 	  	 Commission:

Standard rates unless otherwise stipulated.
  

	 			 
	 	  	 Letter of Credit Opening Commission:

First USD50.000.-
 Balance

 
	  	 1/4%
 1/16%
	  	 
	 			 
	 	  	Maximum tenor/advance percentage for:	  		  	 
	 	  	Import facilities: Combined usance period of any transaction is not to exceed 90 days.	  		  	 
	 			 
	 	  	 Export facilities: Not to exceed 90 days.

 
	  	 	  	 

 

 

			
	Kwong Lee Shun Trading Company Limited	  	 Page
 3

  

							
	
2.      Foreign Exchange

Contract(s) (Spot and

Forward)
	  	 For
transactions in the ordinary course of business of the Customer.
  

Tenor: Up to 2 days for Spot.

   Up to 24 months for Forward.

 

	
3.      Currency and Interest Rate Risk Management
	  	 For transactions in the
ordinary course of business of the Customer.
  
 Tenor: Up to 24
months.
  

 Special Condition: If required by the
Bank in its sole and absolute discretion, the Customer undertakes to provide additional security acceptable to the Bank within the time limit imposed by the Bank at the relevant time. Without prejudice to any other provision of this Letter, the
Customer agrees that failure to strictly comply with this undertaking gives the Bank (or any member of the Standard Chartered Group that is providing such Treasury Facilities) a right to terminate all or any part of the Treasury Facilities.

  

			
	 Handling Fee of Facilities:
	  	 Handling fee
to be mutually agreed and payable on each anniversary of the date of this letter if the Facilities are continuing.
  

 

	D.	SECURITY AND CONDITIONS PRECEDENT: 

 The
availability of the Facilities is conditional upon the Bank’s receipt of the following documents, items and evidence (both in form and substance) satisfactory to the Bank: 

 

	1.	This letter duly executed by the Customer. 

  

	2.	A corporate guarantee executed by Global-Tech Advanced Innovations Inc. (formerly known as Global-Tech Appliances Inc.) for an unlimited amount.

  

	3.	Original/Certified copies of all necessary consents, approvals and other authorisations (including board resolutions) in connection with the execution, delivery and
performance of this letter and all other documents mentioned above, if applicable. 

  

	4.	(if any of the facilities referred to in this letter are to be made available by Standard Chartered Bank or other members of the Standard Chartered Group) All such
documents, items or evidence with, in favour of or to Standard Chartered Bank or, as the case may be, such member of the Standard Chartered Group as the Bank may request. 

 

	5.	Such other documents, items or evidence that the Bank may request from time to time. 

 

	E.	COVENANTS AND UNDERTAKINGS: 

 The Customer
undertakes to the Bank that it will: 
  

	1.	promptly submit to the Bank: 

  

	 	•	 	 certified copies of the annual audited financial statements of the Customer and the Global-Tech Advanced Innovations Inc. within 9 months after their
respective financial year end; 

  

	 	•	 	 a certified copy of the quarterly management accounts of Global-Tech Advanced Innovations Inc. within 120 days after the end of the relevant accounting
period; and 

  

	 	•	 	 other information that the Bank may request from time to time. 

 

 

			
	Kwong Lee Shun Trading Company Limited	  	 Page
 4

  

	2.	immediately inform the Bank: 

  

	 	•	 	 of any change of the Customer’s directors or beneficial shareholders or amendment to its memorandum or articles of association or equivalent
constitutional documents; 

  

	 	•	 	 of any substantial change to the general nature of the Customer’s existing business; or 

 

	 	•	 	 if it becomes, or is aware that any of its directors, shareholders, partners or managers becomes, a Related Person (as defined in paragraph 5 of
section F of this letter). 

  

	F.	OTHER TERMS AND CONDITIONS: 

  

	1.	The Facilities are available at the sole discretion of the Bank. The Bank may at any time immediately terminate, cancel or suspend the Facilities or otherwise modify
the Facilities without the consent of any party. 

  

	2.	Notwithstanding any provisions stated in this letter, the Facilities are repayable on demand by the Bank. The Bank has the overriding right at any time to require
immediate payment and/or cash collateralisation of all or any sums actually or contingently owing to it under the Facilities. This clause 2 does not apply to any factoring facility(ies). 

 

	3.	The Bank’s Standard Terms and Conditions for Banking Facilities and Services (including the Trade Finance Supplement) and Terms and Conditions for Foreign Exchange
Business (“Standard Terms and Conditions”) attached and/or referred to in this letter forms an integral part of this letter and the Customer agrees to observe and be bound by such Standard Terms and Conditions. 

 

	4.	The terms and conditions set out or referred to in this letter supersede and replace those set out in our letter (if any) previously sent to the Customer(s).

  

	5.	Please note that section 83 of the Banking Ordinance imposes on the Bank certain limitations on advances to persons (including firms, partnerships and companies)
related to its directors, employees with lending authority or controllers (each person so related shall be referred to as a “Related Person”). When acknowledging and accepting this facility letter, you should advise us if you
are, or any of your directors, shareholders, partners or managers is, a Related Person within the meaning of the Banking Ordinance. If subsequent to your acceptance of this facility letter, you become, or are aware that any of your directors,
shareholders, partners or managers is or becomes, a Related Person, you should immediately advise us in writing. 

  

	6.	The Customer acknowledges the following: 

  

	 	(a)	The Customer has received and read the Bank’s Notice to Customers and Other Individuals relating to the Personal Data (Privacy) Ordinance and the Code of Practice
on Consumer Credit Data; and 

  

	 	(b)	The Customer has, or will, notify each of its Relevant Individuals, the Bank may, in the course of providing banking services to the Customer, receive Customer
information in respect of that Relevant Individual. 

 For the purpose of the above, a “Relevant
Individual” is defined as being one of the following (but not limited to) Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, department heads, corporate officers (e.g. authorized signatories, company secretary etc.),
directors, major shareholders, beneficial owners, and guarantors (where applicable). 
  

	7.	This letter shall be governed by and construed in accordance with the laws of Hong Kong SAR. 

 

 

			
	Kwong Lee Shun Trading Company Limited	  	 Page
 5

 Please sign and return to us the enclosed copy of this letter together with the attached
Standard Terms and Conditions for Banking Facilities and Services (including the Trade Finance Supplement) and Terms and Conditions for Foreign Exchange Business to the Bank’s Credit Risk Control at 11th Floor, Standard Chartered Tower, 388
Kwun Tong Road, Kwun Tong, Kowloon within one month after the date of this letter, failing which this offer shall lapse. 
 If you have any
queries, please feel free to contact any of the following persons: 
  

					
	
Queries on
  
	  	 Name

 
	  	
Telephone No.
  

	
Banking arrangements
  
	  	 Mr. Kelvin Fong, Relationship Manager, Local Corporates,
Origination & Client Coverage, Wholesale Banking
  
	  	2821-1323
 

 Yours faithfully, 

For and on behalf of 
 STANDARD CHARTERED BANK
(HONG KONG) LIMITED

 
  

	
	/s/ Josephine To
	Josephine To
	Senior Credit Documentation Manager

 JT/AW 

Encl. 
 We agree and accept all the terms and
conditions set out above and the Bank’s Standard Terms and Conditions for Banking Facilities and Services (including the Trade Finance Supplement) and Terms and Terms and Conditions for Foreign Exchange Business attached and/or referred to in
this letter, which we have read and understood. 
 For and on behalf of 

KWONG LEE SHUN TRADING COMPANY LIMITED 
  

	
	/s/ Kwong Ho Sham

 

 

			
	Kwong Lee Shun Trading Company Limited	  	 Page
 6

 Each of the undersigned hereby acknowledge the terms of this facility letter and confirm that
their respective obligations under each guarantee and security document (as applicable) that they have executed in favour of the Bank will continue in full force and are not and will not be affected, discharged or varied by the execution of this
facility letter. 
 For and on behalf of 

GLOBAL-TECH ADVANCED INNOVATIONS INC. 
  

	
	/s/ John C.K. Sham

 

 

			
	Kwong Lee Shun Trading Company Limited	  	 Page
 7

 Appendix 1 

TRADE FINANCE FACILITY  
 Trade
Finance Group All 
  

	 	•	 	 Negotiation of export credit documents with discrepancies on a with recourse basis 

Trade Finance Group 1 
  

					
	 •       Purchase of documents against payment bills with title documents on
parties acceptable to the Bank on a with recourse basis

	
	 •       Purchase of documents against acceptance bills with ECA/approved
insurance cover on a with recourse basis

			
	 •       Issuance of import letters of credit
	  	- sight and usance	  	
		  	- with title document	  	

 Trade Finance Group 2 
  

					
	 •       Purchase of documents against acceptance bills without ECA/approved
insurance cover on a with recourse basis

	
	 •       Purchase of documents against payment bills without title documents
on parties acceptable to the Bank on a with recourse basis

			
	 •       Issuance of import letters of credit
	  	- sight and usance	  	
		  	- without title documentsBanking Facility Letter dated November 26, 2009

 EXHIBIT 4.48 

 

 

 STRICTLY PRIVATE & CONFIDENTIAL 

 

 

 Date: 26 November, 2009 

Dear Sirs, 
 Re: Renminbi
Banking Facilities  
 We refer to the recent discussions regarding the financing requirements of

, (herein referred to as “the Company”) and are pleased to confirm that Standard Chartered Bank (China) Limited, acting through its Shenzhen Branch (herein referred to as “the
Bank” which term shall include Standard Chartered Bank (China) Limited and/or its Shenzhen Branch), is willing to make the following banking facility available to the Company. 

Banker’s Acceptances 
  

			
		
	 Amount:
	  	The maximum amount drawn, utilised or outstanding under the facility shall not exceed in aggregate RMB20,000,000.00-.
		
	 Purpose:
	  	For issuance of Bank Accept Draft (“BAD”) to finance the onshore raw material sourcing requirement.
		
	 Tenor:
	  	Up to 6 months.
		
	 Commission:
	  	0.05% of BAD issuance amount.
		
	 Arrangement

Fee:
	  	RMB50,000.-
		
	 Supporting

Documents:
	  	 1. Original BAD application with duly Authorized signatures.

2. Certified true copy of VAT invoice.
 3.
Certified true copy of purchasing order or commercial contract.
 4. Other documents required by the Bank from time to time.

		
	 Rollover:
	  	Not allowed.
		
	 Note:
	  	Availability subject to all application forms and other supporting documents to be in form and substance satisfactory to the Bank.

Secutiry 
 Cash deposit provided
by the Company covering 100% of BAD issuance amount to be pledged to the Bank. 

 

 

  

 1 

 Top Up Clause 

The Company shall at all times comply with the security requirement specified in this letter or as notified by the Bank to the Company from time to time.
If the value of the security shall at any time fall below the amount required by the Bank, the Company shall provide additional security acceptable to the Bank and/or reduce the relevant outstanding in order to comply with the relevant requirements
within the time limit imposed by the Bank from time to time. 
 Availability and Repayment 

The offer for facility finance is available for acceptance by the Company within 30 days of the date hereof. The facility is available for drawdown at the
Bank’s sole discretion after the date of the Company’s acceptance of this letter. It is thereafter subject to periodic review by the Bank at its discretion, and it is expressly agreed that they will at all time be available at the sole
discretion of the bank. 
 Notwithstanding any other provisions contained in this letter or in any other document, the Bank will at all times
have the right to require immediate payment and/or cash collateralization of all or part of any sums actually or contingently owing to it, and the right to immediately terminate or suspend, in whole or in part, the facility and all further
utilization of the facility without prior notice to the Company. 
 Conditions Precedent 

The facility described in this letter will (subject to the other provisions of this letter) not become available, and the Bank shall have no obligation to
make any advances or to make any of the facility available for utilization hereunder, unless the Bank has first received the documents listed in the attachment duly certified by the Company’s legal representative or a director of the Company
together with the Company chop. Each of these documents shall be, in form and substance, satisfactory to the Bank. 
 Covenants 

 The Company undertakes that it will: 
  

	1.	obtain and maintain current all approvals, licenses and consents required under Chinese law to enable it to enter into and perform its obligations under this letter,
which shall be legally enforceable and admissible in China; 

  

	2.	ensure that at all times the claims of the Bank against the Company under this letter rank at least pari passu with the claims of all its other present and future
unsecured and unsubordinated creditors; 

  

	3.	provide to the Bank at the Bank’s request the Company’s valid lending IC control card for the Bank’s inspection and input of information to the Credit
Registration & Consultation System (“System”); and 

  

	4.	at each annual renewal of Company’s lending IC Control card, promptly provide such card to the Bank to enable the Bank to verify and continue input of information
to the System. 

  

 2 

	5.	register the foreign debt with the local State Administration of Foreign Exchange (“SAFE”) within 15 days after foreign security held by the Bank is enforced;

  

	6.	ensure that enough GAP (defined as the sum of the Company’s cumulative amount of medium and long term foreign debts, the balance of its short term foreign debts
and realized foreign security amount not exceeding the difference between its total approved investment amount and registered capital amount) is available at the time of enforcement of foreign security and foreign debt registration.

  

	7.	immediately inform the Bank of any insufficiency of the GAP. In this case, the Company shall provide the Bank with an undertaking letter from it parent company that its
parent company shall enhance its registered capital at the Bank’s request. 

  

	8.	submit to the bank at their respective due dates: 

  

	 	1)	a signed original copy of the Company’s audited financial statements within 6 months after its financial year end, which shall disclose relevant related party
transactions required by any applicable laws, regulations and guidelines or equivalent from time to time; 

  

	 	2)	a signed original copy of the Company’s unaudited semi-annual financial statements within 3 months after the end of the relevant accounting period.

 Indemnity: 

The Company acknowledges, by its counter-signature of this letter, that in consideration of the Bank from time to time making available the banking
facility set forth herein for its account, it will unconditionally and irrevocably indemnify the Bank and keep the Bank indemnified against all claims, liabilities, losses and reasonable expenses of whatever nature which the Bank may incur in any
way as a consequence of its making available any such facility and to pay to the Bank on demand all sums which may be claimed from the Bank (including without limitation any amount under any draft discounted by the Bank which for any reason the Bank
fails to recover from the payer of that draft) or which the Bank may pay or become liable to pay under or by reason of or in connection with any such facility together with interest thereon calculated from the date on which the Bank paid or incurred
the relevant sum or other liability and reasonable costs. The Bank may pay immediately any and all amounts claimed from it or which the Bank may become liable to pay under or in connection with any such facility without reference to or further
authority from the Company. Any action taken by the Bank in good faith under or in connection with any such facility shall be binding on the Company. 

Representation 
 The Company
represents that this facility letter is legal, valid, binding and enforceable on the Company. 
 Taxes 

All payments from the Company to the Bank must be made free and clear of all taxes, withholdings and deductions of whatever nature. 

 

 3 

 Events of Default 

If the Company is in breach of any term of this facility letter or if the Bank is of the opinion at any time that circumstances exist that could adversely
affect the ability or willingness of the Company to comply with its obligations under this facility letter, then the facility is repayable on first demand by the Bank. 

Default Interest Commission 
 In
respect of each RMB Advance and any other RMB amount(s) which are not repaid or paid, as the case may be, when such Advance or other amount(s) are due hereunder, the Company shall pay default interest at the rate equivalent to 150% of the interest
rate calculated from the Repayment Date to the date on which the Bank receives payment in full of the sum due. 
 In the event that the Company
misappropriates any or all amounts under any RMB Advance, the Company shall pay penalty interest at the rate equivalent to 150% of the interest rate calculated from the date when such amounts are misappropriated to the date on which the Company
ceases misappropriating such amounts. 
 In the event that the Company fails to repay any RMB Advance or any other RMB amount(s) which are due
hereunder and misappropriates the same amount, the Bank shall, at its own discretion, have the right to charge penalty interest incurred in connection with such amount. 

Unless otherwise specified, commission will be collected at the Bank’s announced standard charges from time to time. 

Fees and Expenses 
 Whether or not
the documentation for the facility is executed or the facility is made available to the Company as contemplated following the Company’s acceptance of this letter, the Company shall forthwith on demand reimburse the Bank all out of pocket
expenses (including but not limited to stamp duty, legal fees and disbursements) incurred by the Bank in connection with the facility including, without limitation, the negotiation, preparation, execution and/or enforcement of this letter.

 Stamp duty cost incurred by the Bank will be payable upon the Bank’s receipt of returned and signed facility letter. It will be
reimbursed by debiting the Company’s RMB account with the Bank. Therefore the Company should ensure that sufficient funds are maintained in its account after acceptance of this letter. Should the payable remain outstanding when the facility is
going to be utilized, the Bank has the right to deduct the payable amount from the drawdown proceeds without prior notice to the Company. 

Costs 
 The Company indemnifies
the Bank against any claim, cost, loss or expense incurred by the Bank as a result of default by the Company in the payment of any sum due under this letter, or the refusal of the Bank to grant an advance, or of the repayment of an advance on a date
other than an interest payment date (including, without limitation, any broken funding costs). 
  

 4 

 Increased Costs 

If any change in, or in the interpretation of or compliance with any law or regulation subjects the Bank to tax in respect of sums payable by the Company
hereunder (other than tax on the Bank’s overall net income), or reduces the amount of any payment receivable by the Bank hereunder, then the Company shall pay the Bank on demand all amounts needed to compensate the Bank therefore. Provided that
the Company shall not be liable in respect of any increased costs of which the Bank shall have become aware and failed to notify the Company promptly if and to the extent prompt notice could have been avoided or lessened payments by the Company
hereunder. So long as the circumstances giving rise to such increased costs continue, the Company may, after giving the Bank not less than three business days prior notice, prepay all of the Loan together with interest accrued thereon to the date of
payment and all other moneys payable hereunder, and upon the giving of such notice, the facility shall be cancelled. 
 Set-Off 

 The Company authorizes the Bank to apply any credit balance on any of the Company’s accounts with the Bank in repayment of any sum due
from the Company to the Bank but unpaid. The Bank is authorized to purchase with the amounts in any such account such other currencies as may be necessary to effect such repayment. 

Miscellaneous 
 All payments for
RMB facility to be made by the Company under this letter shall be made in Renminbi in same day funds to an account specified by the Bank. 

Assignment and Transfer 
 The Bank
(but not the Company) may assign or transfer all or any part of its rights and/or obligations under this letter and in that event the assignee or the transferee shall have the same rights and/or obligations against the Company as it would have had
if it had been party hereto. 
 Governing Law 

This letter is governed by and shall be construed in accordance with the laws of PRC and the Company hereby submits to the non-exclusive jurisdiction of
the courts of PRC. The Company agrees that any communication to it shall be deemed to have been delivered if sent by any means to the latest address advised by the Company to the Bank. 

Disclosure 
 The Company hereby
consents to the Bank, its officers and agents disclosing information relating to the Company and the Company’s account(s) and/or dealing relationship(s) with the Bank and Standard Chartered Bank (including all its branches and subsidiaries)
(“SCB”), including but not limited to details of its facility, any security taken, transactions undertaken and balances and positions with the Bank and SCB, to 

 

	 	1)	the holding company of the Bank, any of its subsidiaries or subsidiaries of its holding company, affiliates, representative and branch offices in any jurisdiction (the
“Permitted Parties”); 

  

 5 

	 	2)	the professional advisors and service providers of the Permitted Parties who are under a duty of confidentiality to the Permitted Parties; 

 

	 	3)	any actual or potential participant or sub-participant in relation to any of the Bank’s rights and/or obligations under any agreement between the Company and the
Bank, or assignee, novatee or transferee (any agent or adviser of any of the foregoing); 

  

	 	4)	any rating agency, insurer or insurance broker of, or direct or indirect provider of credit protection to any Permitted Party; 

 

	 	5)	any court or tribunal or regulatory, supervisory, governmental or quasi-governmental authority with jurisdiction over the Permitted Parties. 

Documentation 
 This letter
summarizes the principal terms of banking facility provided to the Company by the Bank. Operation of the facility will require completion of standard documentation from time to time in accordance with the then current practices of the Bank.

 Before the above facility may be used, the enclosed copy of this letter and the Bank’s standard form General Customer Agreement (07)
must be signed and returned to us together with appropriate authorizing board resolutions. 
 In addition to this, other documentation (please
see the attachment) will also be required prior to utilization of the facility. 
 To signify your agreement to the above arrangement, please
sign and return to us the duplicate of this letter within 30 days. Your acceptance of the facility and issuance of the supporting security documents should be authorized by a board resolution and the relative board minutes forwarded to the Bank. In
this connection, please arrange for due execution of the enclosed documents as in the Attachment. 
 The facility detailed above will not become
operative until all terms and conditions have been complied with to the satisfaction of the Bank. 
 In case of any queries, please feel free to
contact Ms. Ivy Wang Telephone No.: 0755 82461688 2540 who will be more than happy to assist you with the execution of the required documentation. Please return the duly executed documents to Standard Chartered Bank (China) Limited, Shenzhen Branch,
52/F, Shun Hing Square, DI Wang Commercial Centre, No.5002, Shennan Road East Shenzhen China 518008. 
 [Below space are intentionally left
blank.] 
  

 6 

 We are pleased to be of service to you. 

Yours faithfully, 
 For and on behalf of

  

					
	Standard Chartered Bank (China) Limited, Shenzhen Branch	 	
			
	/s/ Anthony Lui	 		 	/s/ Kandy Chan
	Anthony Lui	 		 	Kandy Chan
	Head of Pearl River Delta	 		 	Branch Manager
	Standard Chartered Bank (China)	 		 	Standard Chartered Bank (China)
	Limited, Shenzhen Branch	 		 	Limited Shenzhen Branch

 We hereby accept and agree
to abide by all the above terms and conditions. 
  

	
	
	/s/ John C.K. Sham
	For and on behalf of
	

	Signed by Authorised person
	Affix Company Chop

 Ref: DGWSECL/RW/IL

  

 7 

 Schedule: 
  

	1.	The original of this letter executed by the Company in duplicate with the supporting Board Minutes and specimen signatures of authorized signatories.

  

	2.	 The original of the General Customer Agreement (07) executed by the Company
with: the supporting Board Minutes.

  

	3.	The Pledge Agreement issued by the Company with the supporting Board Minutes. 

 

 8 

 Attachment: 
  

	1.	Municipal government approval for operating business issued by Ministry of Commerce. 

 

	2.	Business License with the updated annual check. 

  

	3.	Articles of Association. 

  

	4.	Supplementary to Articles of Association (if any). 

  

	5.	Specimen signature of the persons authorized to sign the Security Documents with certified true copies of their ID card or passport. 

 

	6.	Any other security documents/information as the Bank may request from time to time. 

Conditions Subsequent: 
 Evidence
of Payment of Stamp Duty 
  

 9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}]]