EX-10.5 8 ea021101801ex10-5_texxon.htm ENGLISH TRANSLATION OF MAXIMUM LINE OF CREDIT AGREEMENT, DATED JANUARY 18, 2024, BY AND BETWEEN NINGBO YUYAO RURAL COMMERCIAL BANK AND ZHEJIANG NET PLASTIC TECHNOLOGY CO., LTD

Exhibit 10.5

 

LRC Credit Operations Submission
       
Sheet No: QT1705288384237 18 January 2024
Client No. 202913302005839508169 Client Name Zhejiang Net Plastic Technology Co.,Ltd
credit limit 50 million yuan Individual business/group Individual business
Affiliations Unrelated Trade finance  
Expiry date January 14, 2025    
Remarks

It was agreed to grant a comprehensive credit line of RMB 50 million, including a working capital accounts receivable pledge loan of RMB 50 million, with a loan interest rate of one-year LPR + 155 basis points (the original interest rate was one-year LPR + 155 basis points), and a term of one year.

 
Reporting Institution: Business Department                         Sponsor: Han Fang 15 January 2024

Risk Manager
Review

Agreed to submit for discussion by the branch loan management group; agreed to a comprehensive credit line of 50 million yuan, including 50 million yuan in accounts receivable pledge loans for working capital. The loan interest rate shall be executed at one-year LPR + 155 basis points (the original execution rate was one-year LPR + 155 basis points), with a term of one year.

 

Manager: Wei Lidong 15 January 2024 

Sub-branch
comments
Agreed Attendant: Xu Xun 15 January 2024
         
Loan Management
Team Preliminary
Review
Agree to submit credit for approval   Attendant: Gu Shasha 16 January 2024
Loan Management
Committee
comments

Agree to Zhejiang Net Plastic Technology Co., Ltd to grant a credit line of RMB 50 million.
I. Sub item credit limit and guarantee requirements,
1. Credit subject: Zhejiang Net Plastic Technology Co., Ltd., credit line: RMB 50 million, guarantee method: guarantee method: pledge, guarantee details: pledge RMB 50 million, credit period until January 14, 2025.
II. Credit Utilization Conditions
A working capital accounts receivable pledge loan of 50 million yuan will be provided, with the loan interest rate executed at one-year LPR + 155 basis points and a term of one year.
III. Post-Credit Utilization Management
Requirements Ensure standardized operations and strengthen loan management.

 

  Manager: Gu shasha     17 January 2024
Loan Management
Committee Opinion
Agree with the loan team