Crucial 2011 Annual Report Download - page 168
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18
INOTERA MEMORIES, INC.
NOTES TO FINANCIAL STATEMENTS
(Continued)
(d)
The interest rates under items 1(b) and 1(c) above shall not be lower than the minimum limit of 1.6%
(e)
Duration: 5 years.
(f)
Repayment: The principal is payable in 6 semi-
annual installments starting from 30 months after the first drawing date.
(g)
The Company has issued a promissory note for this syndicated loan.
(h)
As of December 31, 2010, the Company’s repayments amounted to US$200,001 thousand and $13,498,500.
(i)
The long-
term loan is secured by machinery and equipment. As of December 31, 2009 and 2010, the net book value of
these pledged assets amounted to $34,501,992 and $29,922,295, respectively.
(2)
The Company signed another syndicated loan agreement with Mega International Commercial Bank, the managing bank
of the syndicated loan, and 24 other banks on May 10, 2010. As of December 31, 2010, the Company applied for drawings
of $31,500,000. The details of this loan are as follows:
(a)
Credit line: $35,000,000.
(b)
Interest rate: 90-day or 180-
day commercial paper rate in the secondary market which appears on Moneyline Telerate,
plus margin.
(c)
The interest rates above shall not be lower than the minimum limit of 1.6%.
(d)
Duration: 5 years.
(e)
Repayment: The principal is payable in 7 semi-
annual installments starting from 24 months after the first drawing date.
(f)
The Company has issued a promissory note for this syndicated loan.
(g)
The long-
term loan is secured by machinery and equipment. As of December 31, 2010, the net book value of these
pledged assets amounted to $40,299,412.