Document:

Exhibit 10.58

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

变更协议

Amendment
Agreement 

 

 

 

 

 

 

 

 

 

(修订函编号/Ref.
No.: CL201508001-001)

隶属于/Belonging
to: 授信协议/Facility Agreement

(编号/Ref. No.: CL201508001)

 

     

     

    

 

	第一部分
                                         签署页/Part
                                         I Execution Page
	变更协议编号/Agreement
                                         Ref. No.: CL201508001-001

 

签署页

Execution
Page

  

	融资行

        Financing
        Bank
	客户

        Client

	 	 
	浦发硅谷银行有限公司

        SPD
        SILICON VALLEY BANK CO., LTD.
	播思微系统香港有限公司

        BORQS
        Hong Kong Limited

	 	 
	住所地

        with
        address at
	住所地

        with
        address at

	 	 
	上海市杨浦区大连路
        588 号宝地广场 B 座 21 楼

        200082

	 
	

        21/F,
        Block B, Baoland Plaza,

        No.
        588, Dalian Road, Shanghai 200082
	

        Office
        B, 21/F., Legend Tower, 7 Shing Yip Street, Kwun Tong, Kowloon, Hong Kong

	 	 
	以上当事人在本协议中简称为“融资行” 

                                                                           hereinafter
                                         referred to as “Financing Bank”	以上当事人在本协议中简称为“客户”
hereinafter referred to as "Client"

 

  上述各方当事人在此同意并接受本变更协议中所述之全部条款;客户特此确认, 就本协议项下有关条件和条款,融资行已向客户作出充分的说明和解释, 客户已理解、同意、承认该等条款。 

The parties above hereby agree to and accept all terms and conditions set forth in this Amendment Agreement. The Client hereby confirms that sufficient interpretations and explanations have been made by the Financing Bank in relation to the clauses hereunder and all of them have been understood, agreed and acknowledged by the Client completely.  

 

 有鉴于此,上述各方当事人签章如下: 

Accordingly, the above parties execute as follows:

 

 

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变更协议条款

TERMS
AND CONDITIONS

 

鉴于:

Whereas,

 

浦发硅谷银行有限公司(作为融资行)与客户(作为借款人)于
2015 年 08 月 31 日签署了《授信协议》(编号:
CL201508001,下称“《授信协议》”)以及其他相关文件(连同前述文件的任何变更、修订、补充,以下简称“融
资文件”)。根据融资文件,银行同意向客户提供金额为美元叁佰万元整之银行授信(下称“授信”)。现经各方协商一
致,达成如下增补及变更条款(“本变更协议”),以资协议各方共同恪守:

SPD
SILICON VALLEY BANK CO., LTD. (as financing bank) and the Client (as borrower) have entered into a Facility Agreement
(“Facility Agreement”) dated August 31st, 2015 (Ref. No. CL201508001) and other related documents
(together with any modification, amendment, supplement of/to the foregoing, hereinafter as the “Finance
Documents”). Pursuant to the Finance Documents, the Financing Bank agrees to make available to the Client the
facility up to USD3,000,000.00 (hereinafter as the “Facility”). Based on the foregoing, the parties hereby
further agree to reach the amendment and/or supplementary clause as below (hereinafter as the “Amendment
Agreement”).

 

1.       各方一致不可撤销地确认本变更协议条款如下:

The parties hereby irrevocably confirm the following
amendment clauses below:

 

(1) 《授信协议》第二部分“特别条款”中对于“额度”中的如下内容:

The contents of “Facility Amount” in
Part II Special Provision of the Facility Agreement quoted below:

 

引用/QUOTE

 

授信总额度:

美元 3,000,000.00

大写金额: 美元叁佰万元整

 

Total Facility Amount:

USD3,000,000.00

In words: THREE MILLION US Dollar

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall be amended by the contents quoted below after
the effectiveness of this Amendment Agreement:

 

引用/QUOTE

 

授信总额度:

美元 5,000,000.00

大写金额: 美元伍佰万元整

 

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Total
Facility Amount:

USD5,000,000.00

In
words: FIVE MILLION US DOLLAR

 

引用结束/UNQUOTE

 

(2)
《授信协议》第二部分“特别条款”中对于“关于所有业务品种均应遵循的财务约定”中的如下内容:

The contents of “General Financial Covenants for all product-types” in Part II Special Provision of the Facility Agreement
quoted below:

 

引用/QUOTE

 

未取得融资行同意的情况下,客户、本授信合同项下的任何担保人及远特(北京)通信技
术有限公司不得将其任何资产转让给第三方,同时,不得产生其他银行或第三方的额外债
务(Red Lion Capital 的美元 3,000,000.00 授信除外)。

Without
the consent from the Financing Bank, the Client, any Guarantors under this facility and Yuantel (Beijing) Telecommunications Technology
Co., Ltd. will not be allowed to grant any of its assets to third party or obtain additional indebtedness from other banks or
third party (except for up to USD3,000,000.00 from Red Lion Capital).

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

 

未取得融资行同意的情况下,客户、本授信合同项下的任何担保人及远特(北京)通信技
术有限公司不得将其任何资产转让给第三方,同时,不得产生其他银行或第三方的额外债
务(Partners For Growth IV, L.P.及其关联公司的美元 8,000,000.00
授信除外)。

Without
the consent from the Financing Bank, the Client, any Guarantors under this facility and Yuantel (Beijing) Telecommunications Technology
Co., Ltd. will not be allowed to grant any of its assets to third party or obtain additional indebtedness from other banks or
third party (except for the credit facility up to USD8,000,000.00 from Partners For Growth IV, L.P. and its affiliated).

 

 

本协议项下客户在此确认,若客户的关联公司【即:播思通讯技术(北京)有限公司,统
一社会信用代码:91110108666251455B,注册地址为:北京市海淀区八里庄路
62 号院 1

号楼
8 层 943 室】在其与融资行间签署的任何融资或业务文件项下发生违约的,即视为构
成本协议项下的违约事件,融资行有权依据法律及本协议相关约定行使追索权利。

The
Client under this Agreement hereby confirm that in case that any event of default occurred under any finance or business
document which is signed between the Financing Bank and the related company of the Client (viz. Borqs Beijing Ltd., Unified
Social Credit Code No. 91110108666251455B, Registered Address: Room 943, 8/F, Building No. 1, No. 62, Balizhuang Road,
Haidian District, Beijing), it should be deemed as constituting an event of default under this Agreement; accordingly the
Financing Bank shall have the right to exercise any or all of its rights of recourse in accordance with the provisions of the
laws and this Agreement.

 

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引用结束/UNQUOTE

 

(3)
《授信协议》第二部分“特别条款”中对于“其他约定”中的如下内容:
The contents of “Others” in Part II Special Provision of the Facility Agreement quoted below:

 

引用/QUOTE

 

在本授信合同有效期内,客户在融资文件项下任何债务均应当优先于客户在
Red Lion Capital 的任何债务。

Within
the period of this agreement, any indebtedness of the client from Red Lion Capital shall be subordinate to any indebtedness of
the client from the Financing Bank.

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

 

在本授信合同有效期内,客户在融资文件项下任何债务均应当优先于客户在
Partners For Growth IV, L.P.及其关联公司的任何债务。

Within
the period of this agreement, any indebtedness of the client from Partners For Growth IV, L.P and its affiliated shall be subordinate
to any indebtedness of the client from the Financing Bank.

 

引用结束/UNQUOTE

 

(4)
《授信协议》第二部分“特别条款”中对于“关于所有业务品种均应遵循的财务约定”中的如下内容:
The contents of “General Financial Covenants for all product-types” in Part II Special Provision of the Facility Agreement
quoted below:

 

引用/QUOTE

 

客户应确认其在合并报表层面上满足和维持:

The
Client shall confirm to obtain and maintain under this Agreement on a consolidated basis:

 

1)
    每月最小流动比率:1.25:1.00

Minimum
Monthly Adjusted Quick Ratio (AQR) of: 1.25:1.00

 

流动比率定义为:(非绑定现金
+ 应收帐款净额)除以(流动负债 - 递延收入)。

AQR
is defined as (unrestricted cash + net account receivables) divided by (current liabilities - deferred revenue).

 

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2)      每季度最低
EBITDA:USD500,000.00

Minimum
quarterly EBITDA of: USD500,000.00

 

注:该财务约束指标从
2015 年第三季度开始测算且 2016 年度的财务约束指标将在收
到最新的财务预算后重新设定。

Note:
This financial covenant shall be tested starting from Q3 2015 and the financial covenant for 2016 will be adjusted upon receipt
of updated financial forecast.

 

3)      偿债备付率:2X

Debt
Service Coverage Ratio of: 2X

 

偿债备付率定义为:每季度
EBITDA / 每季度所有银行借款应还本息金额。

Debt
Service Coverage Ratio is defined as quarterly EBITDA divided by quarterly principal and interest payment of all bank debt.

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

 

客户应确认在合并报表层面上需维持:

The
Client shall confirm to maintain on a consolidated basis:

 

1)      每月最小调整后速动比率:1.25:1.00

Minimum
Monthly Adjusted Quick Ratio (AQR) of: 1.25:1.00

 

调整后速动比率定义为:(非绑定现金
+ 应收帐款净额)除以(流动负债 - 递延收入)。
AQR is defined as (unrestricted cash + net account receivables) divided by (current liabilities - deferred revenue).

 

2)      每季度最低
EBITDA:USD500,000.00

Minimum
Quarterly EBITDA of: USD500,000.00

 

注:该财务约束指标将在收到并审核
2017 年董事会批准的(最新)预算后更新。
Note: This financial covenant for 2017 will be adjusted upon receipt and review of 2017 board-approved (updated) plan.

 

引用结束/UNQUOTE

 

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(5)
《授信协议》第二部分“特别条款”中对于“其他约定”中的如下内容:
The contents of “Others” in Part II Special Provision of the Facility Agreement quoted below:

 

引用/QUOTE

 

关于资料提交,自本协议签署后,客户应:

Upon
entering into this Agreement, the client shall:

1)      于每月结束之后
30 天内提供公司准备的合并的月度财务报表;

submit
Monthly Company prepared consolidated financial statements within 30 days of each month end;

2)      于每月结束之后
30 天内提供应收账款账龄及应付账款账龄报告;

submit
Accounts Receivable Aging and Payable Aging Report within 30 days of each month end;

3)      于每月结束之后
30 天内提供合规证书;

submit
Monthly Compliance Certificate within 30 days of each month end;

4)     于每月结束之后
30 天内提供借款基础证书;

submit
Monthly Borrowing Base Certificate within 30 days of each month end;

		5)	在董事会通过和/或年底前 30 天内提供经公司董事会通过的合并的财务运营计划;

                                                                                submit Annual Board-approved consolidated financial projections within 30 days from Board approval and/or year end;

		6)	于每一年度结束之后
                                         270 天内提供经注册会计师审计的合并的年度财务报表;

submit
Annual CPA-Audited consolidated financial statements within 270 days from year end;

7)      其他经融资行合理要求的报告。

submit
such other reports which may be reasonably requested by the Financing Bank.

 

关于资料提交,自本协议签署后,播思通讯技术(北京)有限公司(公司注册号:

110000450022704,作为本协议之“担保人”)应:

Upon
entering into this Agreement, Borqs Beijing Ltd. (Company No. 110000450022704, the Guarantor under this Agreement) shall:

1)      于每月结束之后
30 天内提供应收账款账龄及应付账款账龄报告;

Submit
Accounts Receivable Aging and Payable Aging Report within 30 days of each month end;

		2)	每年对公司的应收账款进行审计。首次应收账款审计应于本协议签署之日起
                                         180 天内

完成;

AR
Field Exam shall be conducted annually. The initial AR Field Exam should be done 180 days after upon entering into this agreement;

3)      其他经融资行合理要求的报告。

submit
such other reports which may be reasonably requested by the Financing Bank.

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

 

关于资料提交,自本协议签署后,客户应:

Upon
entering into this Agreement, the Client shall:

1)      于每月结束之后
30 天内提供公司准备的合并的月度财务报表;

submit
Monthly Company prepared consolidated financial statements within 30 days

of
each month end;

2)      于每月结束之后
30 天内提供应收账款账龄及应付账款账龄报告;

submit
Accounts Receivable Aging and Payable Aging Report within 30 days of each month end;

 

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3)      于每月结束之后
30 天内提供合规证书;

submit
Monthly Compliance Certificate within 30 days of each month end;

4)     于每月结束之后
30 天内提供借款基础证书;

submit
Monthly Borrowing Base Certificate within 30 days of each month end;

5)      每年对公司的应收账款进行审计,首次应收账款年审应于本变更协议签署之日起
60

天内完成;

AR
Field Exam shall be conducted annually and the initial AR Field Exam should be completed within 60 days from the execution date
of this Amendment Agreement;

6)      于每一年度结束之后
270 天内提供经注册会计师审计的年度财务报表;

submit
Annual CPA-Audited financial statements within 270 days from year end;

7)      在每一年度董事会通过后
10 天内提供经公司董事会通过的合并的财务运营计划,但

最迟不得晚于每一年度结束之后
60 天;

submit
Annual Board-approved consolidated financial projections within 10 days from Board approval, but no later than 60 days from year
end;

8)      其他经融资行合理要求的报告。

submit
such other reports which may be reasonably requested by the Financing Bank.

 

引用结束/UNQUOTE

 

(6)
《授信协议》第四部分“业务条款”中“业务品种:应收账池贷款”中“业务额度”中的如下内容:
the contents of “Pooled A/R Loan Limit” of “Product Type: Pooled A/R Loan” in Part IV Specification of
the Facility Agreement quoted below:

 

引用/QUOTE

 

金额/Amount:
美元/USD2,000,000.00

大写/in
words:

美元贰佰万元整

TWO
MILLION US DOLLOR

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

 

金额/Amount:
美元/USD4,000,000.00

大写/in
words:

美元肆佰万元整

FOUR
MILLION US DOLLOR

 

引用结束/UNQUOTE

 

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(7)
《授信协议》第四部分“业务条款”中“业务品种:应收账池贷款”中“业务额度到期日”中的如下内
容:

the
contents of “Maturity Date of the Loan Limit” of “Product Type: Pooled A/R Loan” in Part IV Specification
of the Facility Agreement quoted below:

 

引用/QUOTE

 

自本业务额度首次提款之日起
12 个月届满之日,但首次提款不得晚于
2015 年 09 月 30

日

12
months from the date of first drawdown under this specification, but the first drawdown shall no later than September 30th, 2015

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

 

2017
年 08 月 31 日

August
31st, 2017

 

引用结束/UNQUOTE

 

(8)
《授信协议》第四部分“业务条款”中“业务品种:应收账池贷款”中“应收账池财务指标”中的如下
内容:

the
contents of “Borrowing Formula” of “Product Type: Pooled A/R Loan” in Part IV Specification of the Facility
Agreement quoted below:

 

引用/QUOTE

 

融资率:在任何时点,客户在本业务条款项下的未清偿贷款余额,不得超过客户应收账池
中的合格应收账款余额的 80%与播思通讯技术(北京)有限公司(亦作为本协议之“担保
人”)应收账池中的合格应收账款余额的
60%之和。

Advance
Rate: at any time, the outstanding amount under this Specification shall not exceed 80% of total Eligible Accounts Receivable
in the A/R pool of the Client plus 60% of total Eligible Accounts Receivable in the A/R pool of Borqs Beijing Ltd. (the Guarantor
under this Agreement).

 

合格应收账款不包括且不限于:账龄超过
90 天的应收账款,抵消账户及预计可抵消的递
延收入账户产生的应收账款,关联交易产生的应收账款,政府账户(除非根据债权转让)产
生的应收账款,单一债务人集中度超过
25%的应收账款(基于客户总的应收账款)。未开具

 

发票的应收账款也是不合格的。

Eligible
Accounts shall exclude, but are not limited to, the following: Accounts greater than 90 days from invoice date; Contra accounts
and accounts with potential off-set with deferred revenue; Affiliate accounts; Government accounts (unless under an assignment
of claims); Amounts exceeding 25% concentration limit (of the Client’s total AR base) for a single debtor. Unbilled A/R
is not eligible.

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引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

 

融资率:在任何时点,客户在本业务条款项下的未清偿贷款余额,不得超过应收账池中的
合格应收账款余额的 80%。

Advance
Rate: at any time, the outstanding amount under this Specification shall not exceed 80% of total Eligible Accounts Receivable
in the A/R pool.

 

合格应收账款不包括且不限于:账龄超过
90 天的应收账款,抵消账户及预计可抵消的递

延收入账户产生的应收账款,超过
90 天账款 50%的余额,超过 90 天的贷方余额;关联交
易产生的应收账款,政府账户(除非根据债权转让)产生的应收账款,单一债务人集中度
超过 25%的应收账款(基于客户总的应收账款),未开具发票的应收账款也是不合格的。
Eligible Accounts shall exclude, but are not limited to, the following: Accounts greater than 90 days from invoice date; Contra
accounts and accounts with potential off-set with deferred revenue; Cross Age accounts; Credit Balances over 90 Days; Affiliate
accounts; Government accounts (unless under an assignment of claims); Amounts exceeding 25% concentration limit (of the Client’s
total AR base) for a single debtor; Unbilled A/R is not eligible.

 

引用结束/UNQUOTE

 

(9)
《授信协议》第五部分“附件”中“附件三”将在本变更协议生效后调整为以下内容:

The
contents of “Appendix 3” in Part V Schedule of the Facility Agreement shall be amended by the contents quoted below
after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

 

附件三:

Schedule
3

 

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合规证书

COMPLIANCE
CERTIFICATE

 

The
Client(s) under this Agreement confirms and undertakes to the Financing Bank that: 本协议中的客户
对融资行确认和承诺:

 

		a)	COMPLIANCE
                                         CERTIFICATE(S) would be completed and provided in accordance with the requirements of
                                         the Financing Bank during the period of this Agreement; 在本协议期限内,合规证明将根据融资行要求完成并提供;

 

		b)	any
                                         COMPLIANCE CERTIFICATE submitted by the Client(s) shall comply in substance with the
                                         format required by the Financing Bank (including the format set forth below or any further
                                         version notified by the Financing Bank).

任何客户提交的合规证明将符合融资行要求的格式(包括下述格式或日后融资行修订的格式)

 

COMPLIANCE
CERTIFICATE

 

 

	 	TO: SPD
    SILICON VALLEY BANK CO., LTD.	Date:
	 	致:浦发硅谷银行有限公司	日期

  

FROM:
BORQS Hong Kong Limited

发件人:
播思微系统香港有限公司

 

The
undersigned authorized officer of BORQS Hong Kong Limited (“Borrower”) certifies that under the terms and conditions
of the Loan and Security Agreement between Borrower and Bank (the “Agreement”): 在下文中签字的播思微系统香港有限公司(“借款人”)的被授权人证明,根据借款人与银行之间的贷款协议(“协
议”)的条款和条件:

 

(1)
Borrower is in complete compliance for the period endingwith all required covenants except as noted below; (2) there
are no Events of Default; (3) all representations and warranties in the Agreement are true and correct in all material respects
on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations
and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations
and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such
date; (4) Borrower, and each of its Subsidiaries, has timely filed all required tax returns and reports, and Borrower has timely
paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower; and (5) no Liens have
been levied or claims made against Borrower or any of its Subsidiaries relating to unpaid employee payroll or benefits of which
Borrower has not previously provided written notification to Bank.

(1)在截至[]的期限内,借款人完全遵守了所有要求的承诺(下文另行载明的除外);(2)不存在任何违约事

件;(3)协议下的所有陈述和保证在本证明日期均是真实和正确的(下文另行载明的除外),但前提条件是:上述
重大方面标准不适用于那些已符合要求或已被实质性修改的陈述或保证;明示提及某个具体日期的陈述和保证,
在该日期做出时在所有重大方面是真实正确的;(4)借款人及其每一个子公司均及时进行了纳税申报和报告;借款
人及时支付了所有海内外税款、征税、保证金和供款;(5)不存在借款人先前未书面通知银行的、就未付员工工资
或福利针对借款人或其子公司设定的留置或提出的索赔。

 

Attached
are the required documents supporting the certification. The undersigned certifies that these are prepared in accordance with
GAAP consistently applied from one period to the next except as explained in an accompanying letter or footnotes. The undersigned
acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with
any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered. Capitalized
terms used but not otherwise defined herein shall have the meanings given them in the Agreement.

请查收附件中的有关上述证明的材料。下文签名者证明:该等材料系按一贯适用的
GAAP 从一个期限到下一期限

所准备的(根据所附信函或脚注另行提供解释的除外)。下文中的签名者确认,借款人申请提款在任何时间或日

 

    10

    
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期均未违反协议的任何条款,合规性确认,并非仅确认在本证明交付日期合规。本证明中未定义的术语的含义与
协议中所给定义相同。

 

Please
indicate compliance status by circling Yes/No under “Complies” column.

请在下表内的“符合”栏内圈明合规状态。

 

	Reporting Covenant 报告约定	 	Required 要求	 	Complies
 合规与否
	 
	MonthlyCompanypreparedconsolidated financial statements 公司准备的合并的月度财务报表	 	Monthly within 30 days of each month end 
于每月结束之后 30 天内	 	Yes/No 
是/否	 
	Accounts Receivable and Payable Aging Report 
应收账款账龄报告及应付账款账龄报告	 	Monthly within 30 days of each month end 
于每月结束之后 30 天内	 	Yes/No 
是/否	 
	Compliance Certificate 
合规证书	 	Monthly within 30 days of each month end 
于每月结束之后 30 天内	 	Yes/No 
是/否	 
	Borrowing Base Certificate 
借款基础证书	 	Monthly within 30 days of each month end 
于每月结束之后 30 天内	 	Yes/No 
是/否	 
	Annual CPA-Audited financial statements 
经注册会计师审计的年度财务报表	 	Annually within 270 days from year end 
于每一年度结束之后 270 天内	 	Yes/No 
是/否	 
	Board-approvedconsolidatedfinancial	 	Within 10 days from Board approval, but no later	 	Yes/No	 
	projections	 	than 60 days from year end	 	是/否	 
	经公司董事会通过的合并的年度财务运营计划	 	在每一年度董事会通过后10天内提供,但最迟不	 	 	 
		 	得晚于每一年度结束之后 60 天	 	 	 
	AR Field Exam	 	Conducted annually and the initial AR Field Exam	 	Yes/No	 
	应收账款年审	 	should be completed within 60 days from from the	 	是/否	 
		 	execution date of this Amendment Agreement	 	 	 
		 	每年对公司的应收账款进行审计,首次应收账款年	 	 	 
		 	审应于本变更协议签署之日起60天内完成	 	 	 

 

	 	Financial
    Covenant 财务约定	Required
    要求	Actual

        实际
	Complies

        合规与否
	 
	客户应确认在合并报表层面上需维持:

        The
        Client shall confirm to maintain on a consolidated basis:
	 
	 	每月最小调整后速动比率:

        Minimum
        Monthly Adjusted Quick Ratio (AQR):
	1.25:1.00	 	Yes/No

        是/否
	 
	调整后速动比率定义为:(非绑定现金
        + 应收帐款净额)除以(流动负债 - 递延收入)。

        AQR
        is defined as (unrestricted cash + net account receivables) divided by (current liabilities - deferred revenue).
	 
	 	每季度最低
    EBITDA: Minimum Quarterly EBITDA of:	USD500,000.00	 	Yes/No

        是/否
	 
	注:该财务约束指标将在收到并审核
        2017 年董事会批准的(最新)预算后更新。

        Note:
        This financial covenant for 2017 will be adjusted upon receipt and review of 2017 board-approved (updated) plan.
	 

 

The
following Intellectual Property was registered (or a registration application submitted) after the Effective Date (if no registrations,
state “None”)

请列明已登记(或已提交登记申请)的知识产权信息:(若无此等事项,请注明“无”)

 

    11

    
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Other
Matters

其他事项

 

Have
there been any amendments of or other changes to the capitalization table of Borrower and to the Operating Documents of Borrower
or any of its Subsidiaries? (☐  Yes ☐ No)

是否借款人的资本构成表(capitalization
table)以及借款人或其任何子公司的运营文件发生了修改或变动?

(□是□否)

 

If
yes, provide copies of any such amendments or changes with this Compliance Certificate.

若选择“是”,请随本证书一并提供此等修改文件之副本。

 

The
following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”)

以下是关于上述证明的除外事项:(若无除外事项,请注明“无除外事项可写”)

 

-----------------------------------------------------------------------------------------------------------------------------
----------------------------

-----------------------------------------------------------------------------------------------------------------------------
----------------------------

-----------------------------------------------------------------------------------------------------
----------------------------------------------------

 

	COMPANY	 	BANK
    USE ONLY
		 	
	播思微系统香港有限公司	 	
	BORQS
    Hong Kong Limited	 	 
		 	
	 	 	 
	By:                                                 	 	Received
    by:                                                  
	 	 	     AUTHORIZED
    SIGNER
	Name:
                                                         	 	Date:                                                 
	 	 	 
	Title:                                                     	 	Verified:
                                                     
	 	 	AUTHORIZED
    SIGNER           
	 	 	Date:                                                 
	 	 	 
	 	 	Compliance
    Status:      Yes     No       
	签署人:                          	 	仅银行填写:
    接收人
	姓名:                         	 	                                                 
	职务
                             	 	授权签字人
	 	 	 
	 	 	日期
    :                                                 
	 	 	 
	 	 	 审核人:
                                                     
	 	 	                          授权签字人
	 	 	 
	 	 	日期:                                                 
	 	 	 
	 	 	是否符合:是否

 

引用结束/UNQUOTE

 

(10)
《授信协议》第五部分“附件”中“附件四”将在本变更协议生效后调整为以下内容:

The
contents of “Schedule 4” in Part V Schedule of the Facility Agreement shall be amended into the contents quoted below
after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

 

    12

    
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附件四:                                                                                                                  借款基础证书

 	Schedule 4	BORROWING BASE CERTIFICATE 

 

	借款人/Borrower:	播思微系统香港有限公司
	 	BORQS Hong
    Kong Limited
	贷款人/Lender:	浦发硅谷银行有限公司
	 	SPD SILICON
    VALLEY BANK CO., LTD.
	承诺金额:	美元伍佰万元整(其中美元肆佰万元整为应收账池贷款)
	Commitment
    Amount:	USD5,000,000.00
    (USD4,000,000.00 for Pooled A/R Loan)

 

	应收账款/ACCOUNTS RECEIVABLE	
        币种/金额

         Currency/Amount

	
        1.     应收账款(发票)账面价值()

        Accounts Receivable (invoiced) Book Value (as of)
	                                  
	
        2.       附加金额(请在下页中解释)

        Additions (Please explain on next page)
	                                  
	
        3.       减去:关联/员工/非交易性账目

        Less: Intercompany / Employee / Non-Trade Accounts
	                                  
	
        4.       净贸易应收账款

        NET TRADE ACCOUNTS RECEIVABLE
	                                  
	
         应收账款抵扣(不重复计算)

        ACCOUNTS RECEIVABLE DEDUCTIONS (without duplication)
	 
	
        5.       帐龄超过
        90 天的

        90 Days Past Invoice Date
	                                   
	
        6.       超过
        90 天的信用余额

        Credit Balances over 90 Days
	                                  
	
        7.       超过
        90 天账款 50%的余额(跨帐龄的或影响目前的)

        Balance of 50% over 90 Day Accounts (Cross-Age or
        Current Affected)
	
         

                                          

	
        8.       未由借款人出具发票的账款

        Accounts not invoiced by Borrower
	                                  
	
        9.       抵消帐户/客户储蓄账目

        Contra / Customer Deposit Accounts
	                                   
	
        10.     政府/机关账目

        Government / Authority Accounts
	                                  
	
        11.     推广账目或演示账目;保证销售账目或寄售账目

        Promotion or Demo Accounts; Guaranteed Sale or Consignment
        Sale Accounts
	
         

                                          

	
        12.     含备忘录的或预结算的账目

        Accounts with Memo or Pre-Billings
	                                  
	
        13.    合同账目;进度/节点结算的账目

        Contract Accounts; Accounts with Progress / Milestone
        Billings
	                                   
	
        14.     保留款结算的账目

        Accounts for Retainage Billings
	                                   
	 

 

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	15.
          信托/报税账目

        Trust
        / Bonded Accounts
	                                  
	16.   
        结算及持有账目

        Bill
        and Hold Accounts
	                                   
	17.
           未结算账目

        Unbilled
        Accounts
	                                  
	18.   
        非交易性账目(若上述中未抵扣)

        Non-Trade
        Accounts (If not already deducted above)
	                                   
	19.   
        具有展期的发票的账目(净 90+)

        Accounts
        with Extended Term Invoices (Net 90+)
	                                  
	20.
           退款账目/借方备忘录

        Chargebacks
        Accounts / Debit Memos
	                                  
	21.   
        产品退货/换货

        Product
        Returns / Exchanges
	                                  
	22.
           具有争议的账目;破产债务人账目

        Disputed
        Accounts; Insolvent Account Debtor Accounts
	                                  
	23.
           递延收入/其他(请在下一页中解释)

        Deferred
        Revenue/ Other (Please explain on next page)
	                                  
	24.
           超过集中度限量(25%)

        Concentration
        Limits (25%)
	                                  
	25.
           应收账款抵扣总金额

        TOTAL
        ACCOUNTS RECEIVABLE DEDUCTIONS
	                                  
	

        26.   
        合格账目(第 4 项的金额将去第 25 项的金额)

        Eligible
        Accounts (#4 minus #25)
	                                  
	27.
           合格账目的金额(第 26 项的 80%)

        ELIGIBLE
        AMOUNT OF ACCOUNTS (80% of #26)
	                                  
	 余额/BALANCES
	 
	28.   
        最高贷款限额

        Maximum
        Loan Amount
	                                  
	29.   
        可放贷金额(第 27 项与第 28 项中的较低者)

        Total
        Funds Available [Lesser of #27 or #28]
	                                   
	30.   
        目前在循环贷款 1 下的欠款余额

        Present
        balance owing on Revolving Line 1
	                                  
	31.
          储备头寸(第 29 项减去第 30 项)

        RESERVE
        POSITION (#29 minus #30)
	                                  
	 

        [续下页/Continued
        on following page.]

         

        对上页中内容的解释:

        Explanatory
        comments from previous page:

	 

 

    14

    
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	变更协议编号/Agreement Ref. No.: CL201508001-001

 

    

  

签署人承认并保证上述内容是真实、完整以及准确的,并且本借款基础证书中的所有信息符
合签署人与浦发硅谷银行有限公司所签订的贷款协议下的陈述与保证的规定。

The
undersigned represents and warrants that this is true, complete and correct, and that the information in this Borrowing Base Certificate
complies with the representations and warranties in the Loan Agreement between the undersigned and SPD SILICON VALLEY BANK CO.,
LTD..

 

 

	 	仅供银行使用/BANK
    USE ONLY
	公司/Company:	接收人/Received
    by: _____________________
	 	授权签字人/AUTHORIZED
    SIGNER
	签字/By:
    ___________________________	 
	授权签字人/Authorized
    Signer	日期/Date:
    __________________________
	 	 
	 	核验/Verified:
    ________________________
	日期/Date:	授权签字人/authorized
    signer
	 	 
	 	Date:
    ___________________________
	 	 
	 	是否合规/Compliance
    Status:是/Yes 否/No

  

引用结束/UNQUOTE

 

		2.	客户在此确认,至本变更协议签署之日没有发生任何违约事件或潜在违约事件及所有声明保证在任何事实方
                                         面仍然保持真实、准确。客户在融资文件项下所述的每一项声明和保证,在本变更协议和担保文件(如有)
                                         签署后均将继续保持真实和准确并被全面遵守。

The
Client hereby confirms that, at and until the execution date of the Amendment Agreement, no Events of Default or potential Events
of Default are existing or continuing, and all representations and warranties made by any Client remain true and accurate in all
material respects. Each representation and warranty made by the Client under the Finance Documents will continue to remain true,
accurate and be in complete compliance after the execution of the Amendment Agreement and security documents (if any).

 

		3.	本变更协议由封面、第一部分(签署页)和第二部分(正文)组成,并构成不可分割的完整整体。除非另有明确
                                         说明,本变更协议中定义和术语与授信协议中具有相同含义。

This
Amendment Agreement consists of the cover page, part I (execution page) and part II (context), which shall constitute an integrity.
Unless otherwise stated hereunder, terms and definitions defined herein shall bear the same meaning ascribed to it in the Finance
Documents.

 

		4.	本变更协议是融资文件不可分割的组成部分。本变更协议与融资文件约定不一致的,以本变更协议为准,融
                                         资文件其余条款保持不变,本变更协议未涉及事项仍应依照融资文件的约定执行。

This
Amendment Agreement shall constitute an integral part of the Finance Documents. In the event of any discrepancy between this Amendment
Agreement and the Finance Documents, this Amendment Agreement shall prevail without prejudice to any other provisions of the Finance
Documents. Matters not covered in this Amendment Agreement shall still be dealt with by the parties in compliance with the provisions
of the Finance Documents.

 

    15

    
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		5.	所有与本变更协议有关的费用,无论是法律费用或其它费用,包括(但不限于)就本协议各份正本应付的中国

 

法下的印花税以及与本变更协议的准备、谈判、签署和执行相关的律师费,均应由客户支付。

 Any and all costs in relation to this Amendment Agreement including but not limited to legal fee and other cost, such as stamp duty charged under the PRC law for each original copy of this Agreement and any attorney fee payable in relation to the planning, negotiation, execution and implementation of this Amendment Agreement, shall be borne by the Client.  

 

		6.	本协议自融资行与客户有权签字人签字并加盖公章后生效。

 This Amendment Agreement shall come into force after it has been duly signed by the authorized person(s) of the Financing Bank and the Client(s) and sealed with common chops by both/all parties.  

 

		7.	本协议以中文和英文书就,若两种语言版本的内容发生任何不一致,则应以中文为准。

 This Amendment Agreement is written in both Chinese and English. In the event of any inconsistency between these two versions, the Chinese version shall prevail.  

 

		8.	本变更协议一式
贰 份,所有签署方各执 壹 份,均具有同等法律效力。

This Amendment Agreement may be executed in TWO separate counterparts, each of which when so executed shall have equal legal effect. Each party may have one counterpart.

 

-以下无正文- 

-END OF AMENDMENT AGREEMENT-

 

担保人(如有)确认: 

Confirmed by the Security Provider(s)(if any):

 

   我们已充分阅读和了解原融资文件以及本变更协议内容,且所有相关必要说明已有融资行提供;我们在此确认同 意和接受上述变更,并愿就本次变更后的客户债务继续承担担保责任。

 We have read and understood fully the contents of the previous Finance Documents and Amendment Agreement, and all related and necessary explanation have been given by the Financing Bank; we hereby confirm that we agree and accept the amendment stipulated above, and would continue to assume the security liabilities for the debts of the Clients after such amendments.          

 

	 /s/ Pat Chan	 
	担保人(保证人)授权代表签字	 
	Security Provider(Guarantor)’s Authorized
    Signature	 
	代表 BORQS International
    Holding Corp	 
	on behalf of BORQS International Holding
    Corp	 
	公章	 
	Seal	 
	日期  2016.07.20	 
	Date 	 

 

    16Exhibit
10.59

 

 

 

变更协议

Amendment
Agreement

 

  

 

 

(修订函编号/Ref.
No.: CL201508001-002)

 

 

 

 

隶属于/Belonging
to: 授信协议/Facility Agreement

(编号/Ref.
No.: CL201508001)

  

 

 

 

     

    
	第一部分 签署页/Part I Execution Page	变更协议编号/Agreement Ref. No.: CL201508001-002

 

    

签署页

Execution
Page

  

	融资行	 	客户
	Financing Bank	 	Client
	 	 	 
	浦发硅谷银行有限公司	 	播思微系统香港有限公司
	SPD SILICON VALLEY BANK CO., LTD.	 	BORQS Hong Kong Limited
	 	 	 
	住所地	 	住所地
	with address at	 	with address at
	 	 	 
	上海市杨浦区大连路588号宝地广场B座21楼	 	 
	200082	 	 
	 	 	 
	21/F, Block B, Baoland Plaza,

No. 588, Dalian Road, Shanghai 200082	 	Office B, 21/F., Legend Tower, 7 Shing Yip Street, Kwun Tong, Kowloon, Hong Kong
	 	 	 
	以上当事人在本协议中简称为“融资行”	 	以上当事人在本协议中简称为“客户”
	hereinafter referred to as “Financing Bank”	 	hereinafter referred to as "Client"

	
         

        上述各方当事人在此同意并接受本变更协议中所述之全部条款;客户特此确认,

        就本协议项下有关条件和条款,融资行已向客户作出充分的说明和解释,

        客户已理解、同意、承认该等条款。

        The parties above hereby agree to and accept
        all terms and conditions set forth in this Amendment Agreement. The Client hereby confirms that sufficient interpretations and
        explanations have been made by the Financing Bank in relation to the clauses hereunder and all of them have been understood, agreed
        and acknowledged by the Client completely.

         

        有鉴于此,上述各方当事人签章如下:

        Accordingly, the above parties execute as
        follows:

         

 

  

    	 	1	 

     

    

变更协议条款

Terms
and Conditions

 

鉴于:

Whereas,

 

浦发硅谷银行有限公司(作为融资行)与客户(作为借款人)于2015年08月31日签署了《流动资金贷款类授信协议》(协议编号:CL201508001),于2016年07月20日签署了《变更协议》(协议编号:CL201508001-001,该等《流动资金贷款类授信协议》和《变更协议》以下合称“《授信协议》”)以及其他相关文件(连同前述文件的任何变更、修订、补充,以下简称“融资文件”)。根据融资文件,银行同意向客户提供金额为美元伍佰万元整之银行授信(下称“授信”)。现经各方协商一致,达成如下增补及变更条款(“本变更协议”),以资协议各方共同恪守:

SPD
SILICON VALLEY BANK CO., LTD. (as Financing Bank) and the Client (as borrower) have entered into the Facility Agreement for Working
Capital Loans dated Aug. 31st, 2015 (Ref. No.: CL201508001), an Amendment Agreement dated Jul. 20th, 2016
(Ref. No.: CL201508001-001) (such Facility Agreement for Working Capital Loans and Amendment Agreements shall be hereinafter collectively
referred to as the “Facility Agreement”) and other related documents (together with any modification, amendment,
supplement of/to the foregoing, hereinafter as the “Finance Documents”). Pursuant to the Finance Documents,
the Financing Bank agrees to make available to the Clients the facility up to USD5,000,000.00 (hereinafter as the “Facility”).
Based on the foregoing, the parties hereby further agree to reach the amendment and/or supplementary clause as below (hereinafter
as the “Amendment Agreement”).

 

		1.	各方一致不可撤销地确认本变更协议条款如下:

The
parties hereby irrevocably confirm the following amendment clauses below:

 

		(1)	客户同意,融资文件中“定期贷款(中期流动资金贷款)”该业务类型将在本变更协议生效后被取消。

The
Client confirms that product type for Term Loan (Mid-term Working Capital Loan) shall be cancelled entirely after the effectiveness
of this Amendment Agreement.

 

		(2)	《授信协议》第二部分“特别条款”中对于“额度”中的如下内容:

The
contents of “Facility Amount” in Part II Special Provision of the Facility Agreement quoted below:

 

引用/QUOTE

 

	
        额度

        Facility Amount
	
        授信总额度:

        美元5,000,000.00

        大写金额: 美元伍佰万元整
	
        Total Facility Amount:

        USD5,000,000.00

        In words: FIVE MILLION US DOLLAR

	
        基准币种:美元

        可选币种:不适用
	
        Base Currency: USD

        Optional Currency: N/A

 

引用结束/UNQUOTE

    	 	2	 

     

    

   

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

  

引用/QUOTE

 

	
        额度

        Facility Amount
	
        授信总额度:

        美元6,000,000.00

        大写金额: 美元陆佰万元整
	
        Total Facility Amount:

        USD6,000,000.00

        In words: SIX MILLION US DOLLAR

	
        基准币种:美元

        可选币种:不适用
	
        Base Currency: USD

        Optional Currency: N/A

  

引用结束/UNQUOTE

 

		(3)	《授信协议》第二部分“特别条款”中对于“额度期限/最终到期日”中的如下内容:

The
contents of “Facility Validity Period/ Final Maturity Date” in Part II Special Provision of the Facility Agreement
quoted below:

 

引用/QUOTE

 

	
        额度期限/最终到期日

        Facility Validity Period/ Final Maturity
        Date
	
        最终到期日:

        2017年09月30日
	
        Final Maturity Date:

        September 30th, 2017

   

引用结束/UNQUOTE

   

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

 

	
        额度期限/最终到期日

        Facility Validity Period/ Final Maturity
        Date
	
        最终到期日:

        2018年08月31日
	
        Final Maturity Date:

        August 31st, 2018

  

引用结束/UNQUOTE

  

		(4)	《授信协议》第二部分“特别条款”中对于“业务类型”中的如下内容:

The
contents of “Product Type” in Part II Special Provision of the Facility Agreement quoted below:

 

引用/QUOTE

 

	
        业务类型

        Product
        Type
	
        定期贷款(中期流动资金贷款)

        应收账池贷款(短期融资)
	
        Term Loan (Mid-term Working Capital
        Loan)

        Pooled A/R Loan (Short-term Finance)

    	 	3	 

     

    

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

  

	
        业务类型

        Product
        Type
	应收账池贷款(短期融资)	Pooled A/R Loan (Short-term Finance) 

 

引用结束/UNQUOTE

   

		(5)	《授信协议》第二部分“特别条款”中对于“关于所有业务品种均应遵循的财务约定”中的如下内容:

The
contents of “General Financial Covenants for all product-types” in Part II Special Provision of the Facility Agreement
quoted below:

 

引用/QUOTE

 

客户应确认在合并报表层面上需维持:

The
Client shall confirm to maintain on a consolidated basis:

 

		1)	每月最小调整后速动比率:1.25:1.00

Minimum
Monthly Adjusted Quick Ratio (AQR) of: 1.25:1.00

调整后速动比率定义为:(非绑定现金
+ 应收帐款净额)除以(流动负债 - 递延收入)。

AQR
is defined as (unrestricted cash + net account receivables) divided by (current liabilities - deferred revenue).

 

		2)	每季度最低EBITDA:USD500,000.00

Minimum
Quarterly EBITDA of: USD500,000.00

 

注:该财务约束指标将在收到并审核2017年董事会批准的(最新)预算后更新。

Note:
This financial covenant for 2017 will be adjusted upon receipt and review of 2017 board-approved (updated) plan.

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

    	 	4	 

     

    

 

本协议项下客户应确认在合并报表层面上需维持:

The
Client under this Agreement shall confirm to maintain on a consolidated basis:

 

		1)	每月最小调整后速动比率:1.25:1.00

Minimum
Monthly Adjusted Quick Ratio (AQR) of: 1.25:1.00

 

调整后速动比率定义为:(非绑定现金
+ 应收帐款净额)除以(流动负债 - 递延收入)。

AQR
is defined as (unrestricted cash + net account receivables) divided by (current liabilities - deferred revenue).

 

		2)	每季度最低EBITDA:USD750,000.00

Minimum
Quarterly EBITDA of: USD750,000.00

 

注:该财务约束指标将在收到并审核2018年董事会批准的(最新)预算后更新。

Note:
This financial covenant for 2018 will be adjusted upon receipt and review of 2018 board-approved (updated) plan.

  

客户应确认BORQS
International Holding Corp(注册号:OI-192127,亦作为本协议之“保证人”)需满足:

The
Client shall confirm that, BORQS International Holding Corp (Registration No. OI-192127, the Guarantor under this agreement) to
achieve:

 

		1)	在2017年08月31日之前与Pacific
                                         Special Acquisition Corp完成合并。

To
complete the merger with Pacific Special Acquisition Corp by the end of August 31st, 2017.

 

引用结束/UNQUOTE

 

		(6)	《授信协议》第二部分“特别条款”中对于“其他约定”中的如下内容:

The
contents of “Others” in Part II Special Provision of the Facility Agreement quoted below:

 

引用/QUOTE

 

关于资料提交,自本协议签署后,客户应:

Upon
entering into this Agreement, the Client shall:

		5)	每年对公司的应收账款进行审计,首次应收账款年审应于本变更协议签署之日起60天内完成;

AR
Field Exam shall be conducted annually and the initial AR Field Exam should be completed within 60 days from the execution date
of this Amendment Agreement;

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

    	 	5	 

     

    

引用/QUOTE

 

关于资料提交,自本协议签署后,客户应:

Upon
entering into this Agreement, the Client shall:

		5)	每年对公司的应收账款进行审计,下一次应收账款年审应于2017年09月30日之前完成;

AR
Field Exam shall be conducted annually and the next AR Field Exam should be completed before September 30th, 2017;

 

引用结束/UNQUOTE

 

		(7)	《授信协议》第四部分“业务条款”中“业务品种:应收账池贷款”中“业务额度”中的如下内容:

The
contents of “Pooled A/R Loan Limit” of “Product Type: Pooled A/R Loan” in Part IV Specification of the
Facility Agreement quoted below:

 

引用/QUOTE

  

	
        业务额度

        Pooled A/R Loan Limit
	
        基准币种

        Base Currency
	 	
        可选币种

        Optional Currency

	 	金额/Amount:	 	币种1	不适用
	 	美元/USD4,000,000.00	 	Currency 1	N/A
	 	大写/in words: 	 	币种2	不适用
	 	美元肆佰万元整	 	Currency 2	N/A
	 	FOUR MILLION US DOLLOR	 	币种3	不适用
	 	 	 	Currency 3	N/A

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

  

	
        业务额度

        Pooled A/R Loan Limit
	
        基准币种

        Base Currency
	 	
        可选币种

        Optional Currency

	 	金额/Amount:	 	币种1	不适用
	 	美元/USD6,000,000.00	 	Currency 1	N/A
	 	大写/in words: 	 	币种2	不适用
	 	美元陆佰万元整	 	Currency 2	N/A
	 	SIX MILLION US DOLLOR	 	币种3	不适用
	 	 	 	Currency 3	N/A

  

引用结束/UNQUOTE

    	 	6	 

     

    

		(8)	《授信协议》第四部分“业务条款”中“业务品种:应收账池贷款”中“可动用期”中的如下内容:

The
contents of “Availability Period ” of “Product Type: Pooled A/R Loan” in Part IV Specification of the
Facility Agreement quoted below:

 

引用/QUOTE

  

	可动用期	在本业务额度到期日前均可使用
	Availability Period	Available before the Maturity Date of the Loan Limit of the Specification

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

  

	
        可动用期

        Availability Period
	
        第1段:美元4,000,000.00的授信可于本变更协议相关文件全部签署后即可提款;

        Tranche 1: USD4,000,000.00
        available upon the execution of loan documents of this Amendment Agreement;

         

        第2段:美元2,000,000.00的授信可于a)
        BORQS International Holding Corp与Pacific Special Acquisition Corp完成合并 以及 b) 融资行与Partners
        for Growth IV, L.P.签署令其满意的提高债权从属金额方可提款。

        Tranche 2: USD2,000,000.00
        available upon a) BORQS International Holding Corp completing the merger with Pacific Special Acquisition Corp and b) the Financing
        Bank signing updated satisfactory Subordination Agreement with Partners for Growth IV, L.P. to increase the cap of senior debt.

  

引用结束/UNQUOTE 

    	 	7	 

     

    

		(9)	《授信协议》第四部分“业务条款”中“业务品种:应收账池贷款”中“业务额度到期日”中的如下内容:

The
contents of “Maturity Date of the Loan Limit” of “Product Type: Pooled A/R Loan” in Part IV Specification
of the Facility Agreement quoted below:

 

引用/QUOTE

  

	业务额度到期日	2017年08月31日
	Maturity Date of the Loan Limit	August 31st, 2017

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

  

	业务额度到期日	2018年08月31日
	Maturity Date of the Loan Limit	August 31st, 2018

 

引用结束/UNQUOTE 

    	 	8	 

     

    

		(10)	《授信协议》第四部分“业务条款”中“业务品种:应收账池贷款”中“贷款利率”中的如下内容:

The
contents of “Interest Rate” of “Product Type: Pooled A/R Loan” in Part IV Specification of the Facility
Agreement quoted below:

 

引用/QUOTE

 

	
        贷款利率

        Interest Rate
	
        LIBOR(☐1个月 ☑3个月
        ☐6个月 ☐12个月)加6.70%(年利率)利差

        LIBOR(☐1 month ☑3 months ☐6
        months ☐12 months) plus Margin 6.70%(p.a.)

         

        (利率以融资行的提款确认或书面确认所载为准)

        (the final applicable interest rate for
        each drawdown hereof shall be that stated in the written or drawdown confirmation by the Financing Bank)

 

引用结束/UNQUOTE

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

  

引用/QUOTE

  

	
        贷款利率

        Interest Rate
	
        LIBOR(□1个月 ☑3个月
        □6个月 □12个月)加3.70%(年利率)利差

        LIBOR(□1 month ☑3 months □6
        months □12 months) plus Margin 3.70%(p.a.)

         

        (利率以融资行的提款确认或书面确认所载为准)

        (the final applicable interest rate
        for each drawdown hereof shall be that stated in the written or drawdown confirmation by the Financing Bank)

 

引用结束/UNQUOTE

 

		(11)	《授信协议》第四部分“业务条款”中“业务品种:应收账池贷款”中“应收账池财务指标”中的如下内容:

The
contents of “Borrowing Formula” of “Product Type: Pooled A/R Loan” in Part IV Specification of the Facility
Agreement quoted below:

 

引用/QUOTE

  

	
        应收账池财务指标

        Borrowing Formula
	
        融资率:在任何时点,客户在本业务条款项下的未清偿贷款余额,不得超过应收账池中的合格应收账款余额的80%。

        Advance Rate: at any time, the outstanding
        amount under this Specification shall not exceed 80% of total Eligible Accounts Receivable in the A/R pool.

         

        合格应收账款不包括且不限于:账龄超过90天的应收账款,抵消账户及预计可抵消的递延收入账户产生的应收账款,超过90天账款50%的余额,超过90天的贷方余额;关联交易产生的应收账款,政府账户(除非根据债权转让)产生的应收账款,单一债务人集中度超过25%的应收账款(基于客户总的应收账款),未开具发票的应收账款也是不合格的。

        Eligible
        Accounts shall exclude, but are not limited to, the following: Accounts greater than 90 days from invoice date; Contra accounts
        and accounts with potential off-set with deferred revenue; Cross Age accounts; Credit Balances over 90 Days; Affiliate accounts;
        Government accounts (unless under an assignment of claims); Amounts exceeding 25% concentration limit (of the Client’s
        total AR base) for a single debtor; Unbilled A/R is not eligible.

 

引用结束/UNQUOTE

  

    	 	9	 

     

    

 

将在本变更协议生效后调整为以下内容:

shall
be amended by the contents quoted below after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

  

	
        应收账池财务指标

        Borrowing Formula
	
        融资率:在任何时点,客户在本业务条款项下的未清偿贷款余额,不得超过应收账池中的合格应收账款余额的80%。

        Advance Rate: at any time, the outstanding
        amount under this Specification shall not exceed 80% of total Eligible Accounts Receivable in the A/R pool.

         

        合格应收账款不包括且不限于:账龄超过90天的应收账款,抵消账户及预计可抵消的递延收入账户产生的应收账款,超过90天账款50%的余额,超过90天的贷方余额;关联交易产生的应收账款,政府账户(除非根据债权转让)产生的应收账款,单一债务人集中度超过25%的应收账款(基于客户总的应收账款)(其中债务人Reliance
        Retail Limited, Vizio. Inc, E La Carte Inc., Fossil (East) Limited以及Sprint的集中度为50%),未开具发票的应收账款也是不合格的。

        Eligible
        Accounts shall exclude, but are not limited to, the following: Accounts greater than 90 days from invoice date; Contra accounts
        and accounts with potential off-set with deferred revenue; Cross Age accounts; Credit Balances over 90 Days; Affiliate accounts;
        Government accounts (unless under an assignment of claims); Amounts exceeding 25% concentration limit (of the Client’s
        total AR base) for a single debtor (The concentration limit for Reliance Retail Limited, Vizio. Inc, E La Carte Inc., Fossil (East)
        Limited and Sprint is 50%); Unbilled A/R is not eligible.

 

引用结束/UNQUOTE

 

		(12)	《授信协议》第五部分“附件”中“附件三”将在本变更协议生效后调整为以下内容:

The
contents of “Schedule 3” in Part V Schedule of the Facility Agreement shall be amended by the contents quoted below
after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

 

附件三:

Schedule
3

  

    	 	10	 

     

    

 

合规证书

COMPLIANCE
CERTIFICATE

 

The
Client(s) under this Agreement confirms and undertakes to the Financing Bank that: 本协议中的客户对融资行确认和承诺:

 

		a)	COMPLIANCE
                                         CERTIFICATE(S) would be completed and provided in accordance with the requirements of
                                         the Financing Bank during the period of this Agreement;

在本协议期限内,合规证明将根据融资行要求完成并提供;

 

		b)	any
                                         COMPLIANCE CERTIFICATE submitted by the Client(s) shall comply in substance with the
                                         format required by the Financing Bank (including the format set forth below or any further
                                         version notified by the Financing Bank).

任何客户提交的合规证明将符合融资行要求的格式(包括下述格式和日后融资行修订的格式)

 

 

 

COMPLIANCE
CERTIFICATE

  

	TO: SPD SILICON VALLEY BANK CO., LTD.	Date:  
	致:浦发硅谷银行有限公司	日期

 

FROM:
BORQS Hong Kong Limited

发件人:
播思微系统香港有限公司

  

The
undersigned authorized officer of BORQS Hong Kong Limited (“Borrower”) certifies that under the terms and conditions
of the Loan and Security Agreement between Borrower and Bank (the “Agreement”):

在下文中签字的播思微系统香港有限公司(“借款人”)的被授权人证明,根据借款人与银行之间的贷款协议(“协议”)的条款和条件:

 

(1) Borrower
is in complete compliance for the period ending _________ with all required covenants except as noted below; (2) there are
no Events of Default; (3) all representations and warranties in the Agreement are true and correct in all material respects
on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations
and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations
and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such
date; (4) Borrower, and each of its Subsidiaries, has timely filed all required tax returns and reports, and Borrower has
timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower; and (5) no
Liens have been levied or claims made against Borrower or any of its Subsidiaries relating to unpaid employee payroll or benefits
of which Borrower has not previously provided written notification to Bank.

(1)在截至[     ]的期限内,借款人完全遵守了所有要求的承诺(下文另行载明的除外);(2)不存在任何违约事件;(3)协议下的所有陈述和保证在本证明日期均是真实和正确的(下文另行载明的除外),但前提条件是:上述重大方面标准不适用于那些已符合要求或已被实质性修改的陈述或保证;明示提及某个具体日期的陈述和保证,在该日期做出时在所有重大方面是真实正确的;(4)借款人及其每一个子公司均及时进行了纳税申报和报告;借款人及时支付了所有海内外税款、征税、保证金和供款;(5)不存在借款人先前未书面通知银行的、就未付员工工资或福利针对借款人或其子公司设定的留置或提出的索赔。

  

    	 	11	 

     

    

 

Attached
are the required documents supporting the certification. The undersigned certifies that these are prepared in accordance with
GAAP consistently applied from one period to the next except as explained in an accompanying letter or footnotes. The undersigned
acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with
any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered. Capitalized
terms used but not otherwise defined herein shall have the meanings given them in the Agreement.

请查收附件中的有关上述证明的材料。下文签名者证明:该等材料系按一贯适用的GAAP从一个期限到下一期限所准备的(根据所附信函或脚注另行提供解释的除外)。下文中的签名者确认,借款人申请提款在任何时间或日期均未违反协议的任何条款,合规性确认,并非仅确认在本证明交付日期合规。本证明中未定义的术语的含义与协议中所给定义相同。

 

Please
indicate compliance status by circling Yes/No under “Complies” column.

请在下表内的“符合”栏内圈明合规状态。

   

	Reporting Covenant报告约定	Required要求	Complies

合规与否
	
        Monthly Company prepared consolidated financial
        statements

        公司准备的合并的月度财务报表
	
        Monthly within 30 days of each month end

        于每月结束之后30天内
	
        Yes/No

        是/否

	
        Accounts Receivable and Payable Aging Report

        应收账款账龄报告及应付账款账龄报告
	
        Monthly within 30 days of each month end

        于每月结束之后30天内
	
        Yes/No

        是/否

	
        Compliance Certificate

        合规证书
	
        Monthly within 30 days of each month end

        于每月结束之后30天内
	
        Yes/No

        是/否

	
        Borrowing Base Certificate

        借款基础证书
	
        Monthly within 30 days of each month end

        于每月结束之后30天内
	
        Yes/No

        是/否

	
        Annual CPA-Audited financial statements

        经注册会计师审计的年度财务报表
	
        Annually within 270 days from year end

        于每一年度结束之后270天内
	
        Yes/No

        是/否

	
        Board-approved consolidated financial projections

        经公司董事会通过的合并的年度财务运营计划
	
        Within 10 days from Board approval, but
        no later than 60 days from year end

        在每一年度董事会通过后10天内提供,但最迟不得晚于每一年度结束之后60天
	
        Yes/No

        是/否

	
        AR Field Exam

        应收账款年审
	
        Conducted annually and the next AR Field
        Exam should be completed before September 30th, 2017

        每年对公司的应收账款进行审计,下一次应收账款年审应于2017年09月30日之前完成
	
        Yes/No

        是/否

  

	Financial Covenant财务约定	Required要求	Actual

实际	Complies

合规与否
	
        本协议项下客户应确认在合并报表层面上需维持:

        The Client under this Agreement shall confirm
        to maintain on a consolidated basis:

	
        每月最小调整后速动比率:

        Minimum Monthly Adjusted Quick Ratio (AQR):
	1.25:1.00	 	
        Yes/No

        是/否

	
        调整后速动比率定义为:(非绑定现金
        + 应收帐款净额)除以(流动负债
        - 递延收入)。

        AQR is defined as (unrestricted cash +
        net account receivables) divided by (current liabilities - deferred revenue).

	
        每季度最低EBITDA:

        Minimum Quarterly EBITDA of:
	USD750,000.00	 	
        Yes/No

        是/否

	
        客户应确认BORQS
        International Holding Corp(注册号:OI-192127,亦作为本协议之“保证人”)需满足:

        The Client shall confirm that, BORQS International
        Holding Corp (Registration No. OI-192127, the Guarantor under this agreement) to achieve:

	
        完成合并:

        Completion of merger:
	
        在2017年08月31日之前与Pacific
        Special Acquisition Corp完成合并。

        To complete the merger with Pacific Special
        Acquisition Corp by the end of August 31st, 2017.
	 	
        Yes/No

        是/否

  

注:该财务约束指标将在收到并审核2018年董事会批准的(最新)预算后更新。

Note: This financial covenant for 2018 will be adjusted upon
receipt and review of 2018 board-approved (updated) plan.

 

The following Intellectual Property was registered (or a registration
application submitted) after the Effective Date (if no registrations, state “None”)

请列明已登记(或已提交登记申请)的知识产权信息:(若无此等事项,请注明“无”)

 

 

 

 

    	 	12	 

     

    

  

Other Matters

其他事项

 

Have there been any amendments of or other
changes to the capitalization table of Borrower and to the Operating Documents of Borrower or any of its Subsidiaries? (☐Yes
☐No)

是否借款人的资本构成表(capitalization
table)以及借款人或其任何子公司的运营文件发生了修改或变动?

(☐是 ☐否)

 

If yes, provide copies of any such amendments
or changes with this Compliance Certificate.

若选择“是”,请随本证书一并提供此等修改文件之副本。

 

The following are the exceptions with respect
to the certification above: (If no exceptions exist, state “No exceptions to note.”)

以下是关于上述证明的除外事项:(若无除外事项,请注明“无除外事项可写”)

  

 

 

 

 

 

 

 

 

	COMPANY	 	BANK USE ONLY
	播思微系统香港有限公司	 	 	 
	BORQS Hong Kong Limited	 	Received by: 	 
	 	 	 	 	authorized signer
	By:	 	 	Date: 	 
	Name:	 	 	 	 
	Title:	 	 	Verified: 	 
	 	 	 	 	authorized signer
	签署人:	 	 	Date:	 
	姓名:	 	 	 	 
	职务:	 	 	Compliance Status: 	Yes   No
	 	 	 	 	 
	 	 	 	仅银行填写:	 
	 	 	 	 	 
	 	 	 	接收人:	 
	 	 	 	 	授权签字人
	 	 	 	 	 
	 	 	 	日期:	 
	 	 	 	 	 
	 	 	 	审核人:	 
	 	 	 	 	授权签字人
	 	 	 	 	 
	 	 	 	日期:	 
	 	 	 	 	 
	 	 	 	是否符合:	是  否

 

引用结束/UNQUOTE

 

		(13)	《授信协议》第五部分“附件”中“附件四”将在本变更协议生效后调整为以下内容:

The
contents of “Schedule 4” in Part V Schedule of the Facility Agreement shall be amended into the contents quoted below
after the effectiveness of this Amendment Agreement:

 

引用/QUOTE

  

	附件四:	借款基础证书
	Schedule 4	BORROWING BASE CERTIFICATE 

 

	借款人/Borrower:	播思微系统香港有限公司
	 	BORQS Hong Kong Limited
	贷款人/Lender:	浦发硅谷银行有限公司
	 	SPD SILICON VALLEY BANK CO., LTD.
	承诺金额:	美元陆佰万元整
	Commitment Amount:	USD6,000,000.00

  

    	 	13	 

     

    

  

	应收账款/ACCOUNTS RECEIVABLE	
        币种/金额Currency/Amount

         

	
        1.       
        应收账款(发票)账面价值(____________________)

        Accounts Receivable (invoiced)
        Book Value (as of ____________________)
	
         

        __________________

	
        2.      
        附加金额(请在下页中解释)

        Additions (Please explain on
        next page)
	
         

        __________________

	
        3.     
        减去:关联/员工/非交易性账目

        Less: Intercompany / Employee
        / Non-Trade Accounts
	
         

        __________________

	
        4.      
        净贸易应收账款

        NET TRADE ACCOUNTS RECEIVABLE
	
         

        __________________

	 	 
	
        应收账款抵扣(不重复计算)

        ACCOUNTS RECEIVABLE DEDUCTIONS (without
        duplication)
	
         

        __________________

	
        5.      
        帐龄超过90天的

        90 Days Past Invoice Date
	
         

        __________________

	
        6.      
        超过90天的信用余额

        Credit Balances over 90 Days
	
         

        __________________

	
        7.      
        超过90天账款50%的余额(跨帐龄的或影响目前的)

        Balance of 50% over 90 Day Accounts
        (Cross-Age or Current Affected)
	
         

        __________________

	
        8.      
        未由借款人出具发票的账款

        Accounts not invoiced by Borrower
	
         

        __________________

	
        9.      
        抵消帐户/客户储蓄账目

        Contra / Customer Deposit Accounts
	
         

        __________________

	
        10.    
        政府/机关账目

        Government / Authority Accounts
	
         

        __________________

	
        11.    
        推广账目或演示账目;保证销售账目或寄售账目

        Promotion or Demo Accounts;
        Guaranteed Sale or Consignment Sale Accounts
	
         

        __________________

	
        12.    
        含备忘录的或预结算的账目

        Accounts with Memo or Pre-Billings
	
         

        __________________

	
        13.    
        合同账目;进度/节点结算的账目

        Contract Accounts; Accounts
        with Progress / Milestone Billings
	
         

        __________________

	
        14.    
        保留款结算的账目

        Accounts for Retainage Billings
	
         

        __________________

	
        15.    
        信托/报税账目

        Trust / Bonded Accounts
	
         

        __________________

	
        16.    
        结算及持有账目

        Bill and Hold Accounts
	
         

        __________________

	
        17.    
        未结算账目

        Unbilled Accounts
	
         

        __________________

	
        18.    
        非交易性账目(若上述中未抵扣)

        Non-Trade Accounts (If not already
        deducted above)
	
         

        __________________

	
        19.    
        具有展期的发票的账目(净90+)

        Accounts with Extended Term
        Invoices (Net 90+)
	
         

        __________________

	
        20.    
        退款账目/借方备忘录

        Chargebacks Accounts / Debit
        Memos
	
         

        __________________

	
        21.    
        产品退货/换货

        Product Returns / Exchanges
	
         

        __________________

	
        22.    
        具有争议的账目;破产债务人账目

        Disputed Accounts; Insolvent
        Account Debtor Accounts
	
         

        __________________

	
        23.    
        递延收入/其他(请在下一页中解释)

        Deferred Revenue/ Other (Please
        explain on next page)
	
         

        __________________

	
        24.    
        超过集中度限量(25%)

        Concentration Limits (25%)

        其中债务人Reliance
        Retail Limited, Vizio. Inc, E La Carte Inc., Fossil (East) Limited以及Sprint的集中度为50%

        The concentration limit for
        Reliance Retail Limited, Vizio. Inc, E La Carte Inc., Fossil (East) Limited and Sprint is 50%
	
         

        __________________

         

         

         

        __________________

 

    	 	14	 

     

    

 

	
        25.    
        应收账款抵扣总金额

        TOTAL ACCOUNTS RECEIVABLE DEDUCTIONS
	
         

        __________________

	 	 
	
        26.    
        合格账目(第4项的金额将去第25项的金额)

        Eligible Accounts (#4 minus
        #25)
	
         

        __________________

	
        27.    
        合格账目的金额(第26项的80%)

        ELIGIBLE AMOUNT OF ACCOUNTS
        (80% of #26)
	
         

        __________________

 

	余额/BALANCES	
         

        __________________

	
        28.    
        最高贷款限额

        Maximum Loan Amount
	
         

        __________________

	
        29.    
        可放贷金额(第27项与第28项中的较低者)

        Total Funds Available [Lesser
        of #27 or #28]
	
         

        __________________

	
        30.    
        目前在循环贷款1下的欠款余额

        Present balance owing on Revolving
        Line 1
	
         

        __________________

	
        31.    
        储备头寸(第29项减去第30项)

        RESERVE POSITION (#29 minus
        #30)
	
         

        __________________

 

[续下页/Continued
on following page.]

 

对上页中内容的解释:

Explanatory
comments from previous page:

 

	 
	 
	 

 

签署人承认并保证上述内容是真实、完整以及准确的,并且本借款基础证书中的所有信息符合签署人与浦发硅谷银行有限公司所签订的贷款协议下的陈述与保证的规定。

The
undersigned represents and warrants that this is true, complete and correct, and that the information in this Borrowing Base Certificate
complies with the representations and warranties in the Loan Agreement between the undersigned and SPD SILICON VALLEY BANK CO.,
LTD..

   

	 	仅供银行使用/BANK USE ONLY
	公司/Company:	接收人/Received by: _____________________
	 	授权签字人/authorized signer
	签字/By: ___________________________	 
	授权签字人/Authorized Signer	日期/Date: __________________________
	 	 
	 	核验/Verified: ________________________
	 	授权签字人/authorized signer
	 	 
	日期/Date: ___________________________	Date: ___________________________
	 	 
	 	是否合规/Compliance Status:是/Yes 否/No

 

引用结束/UNQUOTE

  

    	 	15	 

     

    

 

	2.	客户在此确认,至本变更协议签署之日没有发生任何违约事件或潜在违约事件及所有声明保证在任何事实方面仍然保持真实、准确。客户在融资文件项下所述的每一项声明和保证,在本变更协议和担保文件(如有)签署后均将继续保持真实和准确并被全面遵守。

The
Client hereby confirms that, at and until the execution date of the Amendment Agreement, no Events of Default or potential Events
of Default are existing or continuing, and all representations and warranties made by any Client remain true and accurate in all
material respects. Each representation and warranty made by the Client under the Finance Documents will continue to remain true,
accurate and be in complete compliance after the execution of the Amendment Agreement and security documents (if any).

 

		3.	本变更协议由封面、第一部分(签署页)和第二部分(正文)组成,并构成不可分割的完整整体。除非另有明确说明,本变更协议中定义和术语与授信协议中具有相同含义。

This
Amendment Agreement consists of the cover page, part I (execution page) and part II (context), which shall constitute an integrity.
Unless otherwise stated hereunder, terms and definitions defined herein shall bear the same meaning ascribed to it in the Finance
Documents.

 

		4.	本变更协议是融资文件不可分割的组成部分。本变更协议与融资文件约定不一致的,以本变更协议为准,融资文件其余条款保持不变,本变更协议未涉及事项仍应依照融资文件的约定执行。

This
Amendment Agreement shall constitute an integral part of the Finance Documents. In the event of any discrepancy between this Amendment
Agreement and the Finance Documents, this Amendment Agreement shall prevail without prejudice to any other provisions of the Finance
Documents. Matters not covered in this Amendment Agreement shall still be dealt with by the parties in compliance with the provisions
of the Finance Documents.

 

		5.	所有与本变更协议有关的费用,无论是法律费用或其它费用,包括(但不限于)就本协议各份正本应付的中国法下的印花税以及与本变更协议的准备、谈判、签署和执行相关的律师费,均应由客户支付。

Any
and all costs in relation to this Amendment Agreement including but not limited to legal fee and other cost, such as stamp duty
charged under the PRC law for each original copy of this agreement and any attorney fee payable in relation to the planning, negotiation,
execution and implementation of this Amendment Agreement, shall be borne by the Client.

 

		6.	本协议自融资行与客户有权签字人签字并加盖公章后生效。

This
Amendment Agreement shall come into force after it has been duly signed by the authorized person(s) of the Financing Bank and
the Client(s) and sealed with common chops by both/all parties.

 

		7.	本协议以中文和英文书就,若两种语言版本的内容发生任何不一致,则应以中文为准。

This
Amendment Agreement is written in both Chinese and English. In the event of any inconsistency between these two versions, the
Chinese version shall prevail.

 

		8.	本变更协议一式
                                         贰 份,所有签署方各执 壹
                                         份,均具有同等法律效力。

This
Amendment Agreement may be executed in TWO separate counterparts, each of which when so executed shall have equal legal effect.
Each party may have one counterpart.

 

 

 

-以下无正文-

-END
OF AMENDMENT AGREEMENT-

 

 

 

担保人(如有)确认:

Confirmed
by the Security Provider(s)(if any):

 

我们已充分阅读和了解原融资文件以及本变更协议内容,且所有相关必要说明已有融资行提供;我们在此确认同意和接受上述变更,并愿就本次变更后的客户债务继续承担担保责任。

We
have read and understood fully the contents of the previous Finance Documents and Amendment Agreement, and all related and necessary
explanation have been given by the Financing Bank; we hereby confirm that we agree and accept the amendment stipulated above,
and would continue to assume the security liabilities for the debts of the Clients after such amendments.

  

    	 	16	 

     

    

  

	/s/ Pat Chan	 
	担保人(保证人)授权代表签字	 
	Security Provider(Guarantor)’s Authorized Signature	 
	代表	 
	on behalf of BORQS International Holding Corp	 
	公章	 
	Seal	 
	日期  2017.08.31	 
	Date	 

 

 

17

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