Exhibit 10.10
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FUNDERGO LIMITED |
| RM 903,9/F | |
| 6 WILMER STREET | |
| SAI YING PUN HK | |
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29 July 2022 |
| PRIVATE AND CONFIDENTIAL | |
| Notification Letter for 100% Guarantee Loan | |
| Dear Customer | |
| 100% Guarantee Loan Number: 521-019828-165 | |
| We refer to your application to us (the “Application”) for a 100% Guarantee Loan (the “Loan”) and our previous email notification which has been approved subject to the following terms, the Terms and Conditions of 100% Guarantee Loan and other terms and conditions stated in or referred to in your Application submitted to us for the Loan. | |
| Approved Loan Amount: HK$ 8,242,900.00 | |
| Approved Loan Tenor: 120 months | |
| Interest Rate#: HSBC Prime Lending Rate (BLR) – 2.25% p.a. | |
| Principal Moratorium Period: 12 months from 26 Jul 2022 | |
| Interest Monthly Repayment Amount: Please refer to the repayment schedule | |
| Monthly Repayment Amount: Please refer to the repayment schedule | |
| Payment Date: Please refer to the repayment schedule | |
| Repayment Account: 121-832703-838 | |
| #Subject to the applicable terms and conditions | |
| We are pleased to inform you that the Loan drawdown has been allowed and effected. The approved loan amount has been credited to the above repayment account. In the event your monthly repayment is returned due to insufficient funds in the repayment account, overdue interest will be levied. This overdue interest is currently 13% p.a. (HSBC BLR + 8% p.a.) but it is subject to revision from time to time. You shall have in the repayment account sufficient funds on or before the relevant due dates of the monthly repayments. | |
| Please be reminded that the Loan will be granted on an uncommitted basis. The Loan will be subject to review by the lender at any time and to the lender’s overriding right of suspension and withdrawal at any time. The lender shall have an unrestricted discretion to determine whether or not to permit drawdown or utilisation of the Loan. Notwithstanding any other terms in the Application or this notification, the lender has the overriding right at its absolute discretion to require immediate repayment of all amount outstanding with respect to the Loan, together with all accrued interest, at any time. | |
| Please be advised that in considering your Application, we have been provided with and have taken into account a credit report on you provided by Dun & Bradstreet (Hong Kong) Ltd. *Should you wish to contact Dun & Bradstreet (Hong Kong) Ltd for the purpose of making a data access request or data correction request under the Personal Data (Privacy) Ordinance, you may do so by contacting Dun & Bradstreet (Hong Kong) Ltd at Unit 1308-1315, 13/F, BEA Tower, Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong [Tel No.2516 1100 Website: www.dnbasia.com/hk/english/ccra]. |
| Issued by The Hongkong and Shanghai Banking Corporation Limited |
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| Please also take notice that we have sold the Loan to The Hong Kong Mortgage Corporation Limited (the “HKMC”) and we are providing administration service to the HKMC in relation to the Loan. Your payment obligation under the Loan will only be discharged by paying us as a servicer for the HKMC or as otherwise directed by the HKMC. | |
| Should you have any queries, please call our Commercial Banking Service Hotline on +852 2748 8238. | |
| Yours faithfully | |
| The Hongkong and Shanghai Banking Corporation Limited | |
| (This letter does not require bank’s signature.) | |
| *Applicable to customers other than limited companies |
Issued by The Hongkong and Shanghai Banking Corporation Limited
