Common use of Acceleration of Loan Clause in Contracts

Acceleration of Loan. 1. During the tenor of the Borrowing, if the Borrower or the surety (i.e., the guarantor or the mortgagor under this Agreement) commits any of the following, the Entrustor shall have the right to cease any disbursement of any amount under this Agreement that has not been disbursed, and accelerate all or portion of the principal and interest of the Loan. Where the Borrowing is repaid in installments and the Entrustor accelerates any one of the installments in accordance with this Agreement, all the other installments that have not become due may be deemed due and payable: (1) It provides any false materials or conceals any material operating or financial matters, or any certificate or document submitted to the Entrustor or the Lender or any representations or warranties under Article 9 of this Agreement is proved to be untrue, inaccurate, incomplete or willful misleading; (2) It changes the scheduled purpose of the Borrowing without consent of the Entrustor , or misappropriates any Borrowing or use any Borrowing in any illegal or non-compliant transactions; (3) It refuses to accept any supervision or inspection of the Entrustor or the Lender on its use of the loan proceeds and the relevant operating or financial activities; (4) It carries out any significant merger, acquisition or restructuring, which, in the view of the Entrustor, may affect the repayment of the Borrowing; (5) It intentionally evades from or invalidating any debt through related party transactions; (6) Its credit standing deteriorates and it ability to repay any indebtedness, including any contingent liability, apparently weakens; (7) The Borrower fails to repay any principals and interest of or any expenses relating to any Borrowing when they become due and payable; (8) The Borrower ceases repayment of its indebtedness or is unable to or indicate that it is unable to repay any indebtedness due and payable; (9) The Borrower stops production, ceases its business, is declared bankrupt, dissolves, is cancelled, is involved in any material economic dispute or its financial condition deteriorates or its business license is revoked; (10) The Borrower fails to perform any of its obligations under Article 10 or any other obligations under this Agreement, or the surety fails to perform its obligations under the security agreement; (11) The value of any assets subject to mortgage or pledge decreases or potentially decreases, or the right of pledge requires to be enforced prior to the date the Borrowing becomes due and payable; and (12) any other events that adversely affect or damage or potentially adversely affect or damage any rights or interests of the Entrustor or the Lender. 2. In the event of acceleration of the Loan, the Entrustor shall be entitled to take appropriate measures under Article 12.1 and Article 12.5.

Acceleration of Loan. 1. During the tenor Tenor of the Borrowing, if the Borrower or the surety (i.e., the guarantor or the mortgagor under this Agreement) commits any of the following, the Entrustor shall have the right to cease any disbursement of any amount under this Agreement that has not been disbursed, and accelerate all or portion of the principal and interest of the Loan. Where the Borrowing is repaid in installments and the Entrustor accelerates any one of the installments in accordance with this Agreement, all the other installments that have not become due may be deemed due and payable: (1) It provides any false materials or conceals any material operating or financial matters, or any certificate or document submitted to the Entrustor or the Lender or any representations or warranties under Article 9 of this Agreement is proved to be untrue, inaccurate, incomplete or willful misleading; (2) It changes the scheduled intended purpose of the Borrowing without consent of the Entrustor , or misappropriates any Borrowing or use any Borrowing in any illegal or non-compliant transactions; (3) It refuses to accept any supervision or inspection of the Entrustor or the Lender on its use of the loan proceeds and the relevant operating or financial activities; (4) It carries out any significant merger, acquisition or restructuring, which, in the view of the Entrustor, may affect the repayment of the Borrowing; (5) It intentionally evades from or invalidating any debt through related party transactions; (6) Its credit standing deteriorates and it ability to repay any indebtedness, including any contingent liability, apparently weakens; (7) The Borrower fails to repay any principals and interest of or any expenses relating to any Borrowing when they become due and payable; (8) The Borrower ceases repayment of its indebtedness or is unable to or indicate that it is unable to repay any indebtedness due and payable; (9) The Borrower stops production, ceases its business, is declared bankrupt, dissolves, is cancelled, is involved in any material economic dispute or its financial condition deteriorates or its business license is revoked; (10) The Borrower fails to perform any of its obligations under Article 10 or any other obligations under this Agreement, or the surety fails to perform its obligations under the security agreement; (11) The value of any assets subject to mortgage or pledge decreases or potentially decreases, or the right of pledge requires to be enforced prior to the date the Borrowing becomes due and payable; and (12) any other events that adversely affect or damage or potentially adversely affect or damage any rights or interests of the Entrustor or the Lender. 2. In the event of acceleration of the Loan, the Entrustor shall be entitled to take appropriate measures under Article 12.1 and Article 12.5.

Acceleration of Loan. 1. During the tenor Tenor of the Borrowing, if the Borrower or the surety (i.e., the guarantor guarantor, the mortgagor or the mortgagor pledgor under this Agreement) commits any of the following, the Entrustor shall have the right to cease any disbursement of any amount under this Agreement that has not been disbursed, and accelerate all or portion part of the principal and interest of the Loan. Where the Borrowing is repaid in installments and the Entrustor accelerates any one of the installments in accordance with this Agreement, all the other installments that have not become due may be deemed due and payable: (1) It provides any false materials or conceals any material operating or financial matters, or any certificate or document submitted to the Entrustor or the Lender or any representations or warranties under Article 9 of this Agreement is proved to be untrue, inaccurate, incomplete or willful misleading; (2) It changes the scheduled intended purpose of the Borrowing without consent of the Entrustor Entrustor, or misappropriates any Borrowing or use any Borrowing in any illegal or non-compliant compliance transactions; (3) It refuses to accept any supervision or inspection of the Entrustor or the Lender on its use of the loan proceeds and the relevant operating or financial activities; (4) It carries out any significant merger, acquisition or restructuring, which, in the view of the Entrustor, may affect the repayment of the Borrowing; (5) It intentionally evades from or invalidating any debt through related party transactions; (6) Its credit standing deteriorates and it ability to repay any indebtedness, including any contingent liability, apparently weakens; (7) The Borrower fails to repay any principals and interest of or any expenses relating to any Borrowing hereunder when they become due and payable; (8) The Borrower ceases the repayment of its indebtedness or is unable to or indicate that it is unable to repay any indebtedness due and payable; (9) The Borrower stops production, ceases its business, is declared bankrupt, dissolvesdissolved, its business license is revoked, is cancelled, cancelled and is involved in any material economic dispute or its financial condition deteriorates or its business license is revoked;position deteriorates; or (10) The Borrower fails to perform any of its obligations under Article 10 or any other obligations under this Agreement, or the surety fails to perform its obligations under the security agreement; (11) The value of any assets subject to mortgage or pledge decreases or potentially decreases, or the right of pledge requires to be enforced prior to the date the Borrowing becomes due and payable; and (12) any other events that adversely affect or damage or potentially adversely affect or damage any rights or interests of the Entrustor or the Lender. 2. In the event of acceleration of the Loan, the Entrustor shall be entitled to take appropriate measures under Article 12.1 and Article 12.5.