Common use of Deduction and Setoff Clause in Contracts

Deduction and Setoff. 11.1 If the Borrower fails to repay any debt due hereunder (including due to accelerated maturity declared by the Lender) in accordance with this Contract, the Lender may deduct relevant amount from all RMB and foreign exchange accounts opened by the Borrower with the Lender or any other branch office of Industrial and Commercial Bank of China to set off such debt, until all debts of the Borrower hereunder are fully settled.

Deduction and Setoff. 11.1 10.1 If the Borrower fails to repay any debt due and payable hereunder (including those declared as immediately due to accelerated maturity declared by the Lenderand payable) in accordance with this Contract, the Borrower agrees that the Lender may deduct relevant amount from all RMB and foreign exchange accounts opened by the Borrower with the Lender or any other branch office of Industrial and Commercial Bank of China to set off such debt, until all debts of the Borrower hereunder are fully settled.

Deduction and Setoff. 11.1 10.1 If the Borrower fails to repay any debt due hereunder (including due to accelerated maturity declared by the Lender) in accordance with this Contract, the Lender may deduct relevant amount from all RMB and foreign exchange accounts opened by the Borrower with the Lender or any other branch office of Industrial and Commercial Bank of China to set off such debt, until all debts of the Borrower hereunder are fully settled.

Deduction and Setoff. 11.1 If the Borrower fails to repay any debt debts hereunder when due hereunder (including due to accelerated maturity those declared by the Lenderimmediately due) in accordance with this ContractAgreement, the Lender may is entitled to deduct the relevant amount from all the RMB and foreign exchange accounts opened by the Borrower with the Lender or any other branch office offices of Industrial and Commercial Bank of China to set off such debt, debts until all the Borrower’s debts of the Borrower hereunder are fully settled.