Crucial 2012 Annual Report Download - page 280

35
INOTERA MEMORIES, INC.
NOTES TO FINANCIAL STATEMENTS
(Continued)
The Company pays NPC, NTC and FCFC on the 15th of the month following the month of purchase and
pays Micron within 30 days of the shipping date. Purchases from NPC included miscellaneous equipment.
Purchase prices and payment terms of purchases from related parties are not materially different from
those of non-related general suppliers.
(iii) Financing to/from related parties
Financing to/from related parties was as follows:
(1) Lending to related parties (classified under other receivables - related parties):
For the year ended December 31, 2009
Maximum
balance Balance as of December 31, 2009 Interest rate Interest income Interest receivables as of December 31, 2009
Micron $ 2,989,790 —3.2488%~4.1575% 41,608 —
The Company signed a “Loan Agreement” with Micron on November 26, 2008. The details of this loan
are as follows:
i. Credit line: US$85,000 thousand.
ii. Interest rate: USD 3-month London Inter-bank Offered Rate (“LIBOR”) plus margin.
iii. Duration: 6 months.
This loan was fully collected on May 26, 2009.
(2) Lending from related parties (classified under other payables - related parties):
For the year ended December 31, 2009
Maximum
balance
Balance as of
December 31,
2009 Interest rate Interest
expenses Accrued interest payable as of December 31, 2009
NYPCB $ 35,400 — 0.9878%~0.9906% 44 —
NPC 3,857,000 1,381,700 0.9878%~1.3062% 9,236 1,180
$ 1,381,700 9,280 1,180
For the year ended December 31, 2010
Maximum
balance
Balance as of
December 31,
2010 Interest rate Interest
expenses Accrued interest payable as of December 31, 2010
NPC $ 3,025,300 3,000,000 0.9939%~1.12661% 2,509 741