Borrower’s Rights and Obligations. 2.4.1 The obligations of each Borrower under this Agreement are joint and several. Failure by a Borrower to perform its obligations under this Agreement shall constitute a failure by all of the Borrowers.
Borrower’s Rights and Obligations. 1. The Borrower has the right to get and use the loan according to this contract.
Borrower’s Rights and Obligations. 13.1 The Borrower has the right to:
Borrower’s Rights and Obligations. 1 The Borrower shall obtain and use the amount of loans in accordance with terms stipulated in this agreement.
Borrower’s Rights and Obligations. 5.1 Have the right to obtain and use the loan in accordance with this contract and the corresponding loan receipts.
5.2 Repay the loan principal, interest, compound interest, penalty interest, litigation fees, preservation fees, execution fees, lawyer fees, travel expenses and other reasonable expenses in accordance with this contract and the corresponding loan receipts, and hereby irrevocably authorize the lender to deduct them in accordance with Article 3.5 of this contract.
5.3 Use the loan for the agreed purpose, without misappropriating or diverting the loan.
5.4 Provide the lender with truthful and complete financial statements or other relevant materials and information on a monthly basis, and actively cooperate with the lender’s inspection of its production and operation, financial status, material inventory, and loan use under this contract.
5.5 If the borrower takes any actions such as contracting, leasing, shareholding reform, joint venture, merger, consolidation, separation, joint venture, capital reduction, asset transfer, external investment, substantial increase in debt financing, application for suspension of business for rectification, application for dissolution, application for bankruptcy, or other actions that may cause changes in the creditor debtor relationship under this contract or affect the realization of the lender’s loan creditor’s rights before the completion of the debt repayment under this contract, the borrower shall notify the lender in writing 30 days before the implementation of the above actions, and at the same time fulfill the debt repayment responsibility or repay the debt in advance, and obtain the written consent of the lender. Otherwise, the above actions shall not be taken. Any other events that pose a threat to the normal operation of the borrower or have a significant adverse impact on the performance of the repayment obligations under this contract, including but not limited to any of the circumstances stipulated in Article 3.3 of this contract, shall be notified in writing to the lender within 3 days of the occurrence of the above-mentioned circumstances, and repayment measures shall be implemented.
Borrower’s Rights and Obligations. 1. The Borrower is entitled to draw down the facility and use the facility funds in accordance with the agreement.
Borrower’s Rights and Obligations. 18. The borrower shall use the loan for the purpose agreed in the contract, and shall not misappropriate the loan under the contract for other purposes or use the loan for illegal and illegal transactions. If the borrower fails to use the loan for the agreed purpose, the lender may stop issuing the loan, recover the loan in advance or terminate the contract, and the borrower shall cooperate with and accept the lender’s control over its production, operation Inspection and supervision of financial activities and the use of loans under the contract.
Borrower’s Rights and Obligations. 8.1 Borrower shall complete all procedures to effectuate the pledge within 30 days.
Borrower’s Rights and Obligations. The Borrower undertakes to use the Subject of rental duly and in conformity with the ordinary purpose of its use and in conformity with the operating rules, namely: • Protect the subject of rental against any damage, destruction or loss; should the Borrower violate this obligation, they will be obliged to reimburse the damage incurred; • The Borrower must not leave the Subject of rental for another person to use. The Borrower undertakes to report any damage or loss to the Subject of rental immediately to the Lender. Should they fail to abide by this obligation, the Borrower shall be held responsible to the Lender for any damage incurred to the Lender due to their failure. The Lender has instructed the Borrower on how to use the Subject of rental. The Lender shall not be held responsible for any damage incurred to the Borrower or other persons using the Subject of rental with the Borrower’s consent due to any use of the Subject of rental or in connection therewith. The Borrower hereby explicitly acknowledges that the Lender is not an operator of the exercise machines and equipment included in the Subject of rental and therefore does not accept any liability towards the Borrower for any damage to health or property incurred in connection to the Subject of rental.
Borrower’s Rights and Obligations. (a) The obligations of each Borrower under this Agreement are joint and several and shall continue until all amounts which may be or become payable by the Borrowers under or in connection with the Finance Documents have been irrevocably and unconditionally paid or discharged in full, regardless of any intermediate payment or discharge in whole or in part. Each Borrower declares that it is and will remain, throughout the Security Period, a principal debtor for all amounts owing hereunder and under the other Finance Documents and that it shall be construed to be a surety for the obligations of any other Borrower hereunder.
