银团贷款暂行办法 Peoples Bank of China, Syndicated Loans Tentative Procedures

ment strictly in accordance with the provisions of the agreement;

　　3. to itemize and register the total syndicated loan and the contributions of each member bank which have been examined and agreed for issue, and to do the same when these are repaid;

　　4. to undertake the syndicated loan guarantee procedure;

　　5. to establish an enterprise syndicated loan account and immediately return to the member banks their proportion of the interest and capital paid by the borrower;

　　6. to review the way the syndicated loan is being implemented and to report regularly to the member banks on the utilization and administration of the syndicated loan; and

　　7. to perform other tasks related to the syndicated loan which it is appointed to do by the member banks.

　　Article 27　The lead bank and agent bank must designate personnel to be specifically responsible for detailed matters concerning the syndicated loan.

　　PART FIVE　ADMINISTRATION OF SYNDICATED LOANS

　　Article 28　The syndicated loan agent bank shall be responsible for organizational and implementational work once the syndicated loan agreement has been signed. The agent bank must carefully inspect and supervise the way in which the syndicated loan is being used and must implement measures to check and verify matters related to economic efficiency and repayment capability. It shall report regularly to the member banks on utilization of the loan, report on time on matters relating to repayment of capital and interest, and accept the advice and scrutiny of the member banks.

　　Article 29　The lead bank must assist the agent bank to follow the progress of the project, uncover in a timely fashion possible problems with the syndicated loan project, inform the member banks in writing of these and call a syndicated group meeting to find ways to resolve the problems.

　　Article 30　Syndicated loan member banks must pay their full share of the loan on time in accordance with the provisions of the syndicated loan agreement and must carry out their duties and obligations in accordance with the syndicated loan agreement.

　　

Article 31　The borrower must in accordance with the provisions of the syndicated loan agreement guarantee the use to which the loan is put, transfer loan capital and interest to the agent bank in a timely fashion, and provide the relevant accurate information to the syndicated loan member banks.

　　Article 32　Once the syndicated loan agreement has been signed the agent bank must send a copy of the syndicated loan agreement to be put on file at the local branch of the People's Bank.

　　PART SIX　HANDLING BREACHES OF CONTRACT

　　Article 33　Any one of the following acts by the borrower constitutes breach of contract:

　　1. (i) a relevant document provided is found to be invalid;

　　2. (ii) inability to carry out an obligation stipulated in the agreement or to abide by an undertaking made;

　　3. (iii) inability to pay capital and interest as stipulated in the agreement;

　　4. (iv) evasion of bank debts through false bankruptcy, etc. or evasion of bank supervision; or

　　5. (v) violation of the Lending General Provisions or other breaches of contract as stipulated in the syndicated loan agreement.

　　Article 34　If breaches of contract by the borrower are not corrected the agent bank shall be responsible for calling a syndicated group meeting to impose a penalty. The borrower and his guarantor shall be notified in writing of the penalty decided on by the syndicated group meeting. Such penalties can be the legal adoption of measures such as stopping the loan, early repayment of the loan, etc. When necessary a suit shall be brought in the people's court.

　　Article 35　Any one of the following acts by a lender constitutes breach of contract:

　　1. (i) failure by syndicated loan member banks to transfer loan funds in accordance with the provisions of the loan agreement when in receipt of notification from the agent bank in accordance with the timing stipulated in the agreement;

　　2. (ii) unauthorized early collection of loans by syndicated member banks;

　　3. (iii) failure by the agent bank to transfer funds to the member banks as agreed when the borrower has repaid the syndicated loan; or

　　4. (iv) other violations by the lender of the Lending General Provisions or of the syndicated loan agreement.

　　Article 36　If acts by lenders as stipulated in Article 35 of these Procedures are not corrected within a set period, the borrower or member bank can apply for arbitration or bring a suit in the people's court.

　　PART SEVEN　SUPPLEMENTARY

　　Article 37　Points not covered in these Procedures shall be concluded by all parties to the syndicated loan in the syndicated loan agreement.

　　Article 38　These Procedures do not apply to international syndicated loans participated in by financial institutions outside China. The Procedures shall be followed in the case of syndicated loans within China participated in by foreign banks within China which are permitted to conduct Renminbi business.

　　Article 39　These Procedures shall be interpreted and amended by the headquarters of the People's Bank of China.

　　Article 40　These Procedures shall be effective as of the date of promulgation

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