Common use of Breach of faith Clause in Contracts

Breach of faith. 8.1 After this contract become effective, both parties shall abide by it, any party fails to carry out the obligation or carry out not completely, which shall be regard as breach of contract, the party shall take the breach responsibility. 8.2 Borrower or guarantor’s fault which cause guarantee contract is not processed in time, or borrower fails to process the drawdown in time as scheduled, the lender has right to dismiss this contract and withdraw the loan released. 8.3 Borrower fails to repay the principle as scheduled under contract (including repaying in advance), from the overdue date, a penalty interest at a rate of execution interest rate Plus 50% shall be charged on borrower; Xxxxxxxx fails to repay the interest as scheduled under contract (including repaying in advance), from the overdue date, a compound interest shall be calculated; the loan is overdue, the unpaid interest shall be charged compound interest at penalty interest rate; 8.4 Borrower used the loan not pursuant to the stipulation under contract, from the breach date, the principle and interest shall be charged penalty interest and compound interest at a rate of execution interest rate PLUS 100%; 8.5 The loan incur overdue or mis-using, the overdue interest, penalty interest and compound interest shall be calculated by days; 8.6 Xxxxxxxx’s breach caused lender to realize the creditor’s right by lawsuit or other property preservation actions, borrower shall shoulder such cost or expense occurred to lender, lawsuit, arbitration, property preservation, execution, public notice, evaluation, appraisal, auction, business travel, lawyer and other cost or expense to realize creditor’s right.

Breach of faith. 8.1 After this contract become effective, both parties shall abide by it, any party fails to carry out the obligation or carry out not completely, which shall be regard as breach of contract, the party shall take the breach responsibility. 8.2 Borrower or guarantor’s fault which cause guarantee contract is not processed in time, or borrower fails to process the drawdown in time as scheduled, the lender has right to dismiss this contract and withdraw the loan released. 8.3 Borrower fails to repay the principle as scheduled under contract (including repaying in advance), from the overdue date, a penalty interest at a rate of execution interest rate Plus 50% shall be charged on borrower; Xxxxxxxx Bxxxxxxx fails to repay the interest as scheduled under contract (including repaying in advance), from the overdue date, a compound interest shall be calculated; the loan is overdue, the unpaid interest shall be charged compound interest at penalty interest rate; 8.4 Borrower used the loan not pursuant to the stipulation under contract, from the breach date, the principle and interest shall be charged penalty interest and compound interest at a rate of execution interest rate PLUS 100%; 8.5 The loan incur overdue or mis-using, the overdue interest, penalty interest and compound interest shall be calculated by days; 8.6 XxxxxxxxBxxxxxxx’s breach caused lender to realize the creditor’s right by lawsuit or other property preservation actions, borrower shall shoulder such cost or expense occurred to lender, lawsuit, arbitration, property preservation, execution, public notice, evaluation, appraisal, auction, business travel, lawyer and other cost or expense to realize creditor’s right.