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Related-Party Transactions
6 Months Ended
Feb. 28, 2014
Related-Party Transactions  
Related-Party Transactions

10. Related-Party Transactions

 

In April 2013, a majority owned subsidiary entered into a one-year unsecured NT dollar denominated loan in the amount of $0.2 million with one of its shareholders to fulfill short-term financing needs. The loan bears a fixed interest rate of 3% per annum. Management believes that the terms of this transaction are at current market rates and would not have been any different had it been negotiated with an independent third party. In January 2014, the subsidiary made a partial payment of $0.1 million on the principal loan amount. As of February 28, 2014 and August 31, 2013, amounts due to related parties of $0.1 million and $0.2 million, respectively, were recorded in other current liabilities.