Common use of Dissolution or Bankruptcy of Borrower Clause in Contracts

Dissolution or Bankruptcy of Borrower. Where Party A knows that Borrower enters into dissolution or bankruptcy procedure, Party A shall inform Party B to file claims. Notwithstanding the provision of the second paragraph of Article 13.1, during the bankruptcy procedure of Borrower, in the event that Party B enters into a reconciliation agreement with Borrower or agrees to the re-construction plan, Party B’s rights hereunder shall not be damaged due to the reconciliation agreement or re-construction plan and the guarantee responsibility of Party A shall not be mitigated or exempted. Party A shall not use the conditions as stipulated in the reconciliation agreement or reconstruction plan to oppose the rights and claims of Party B. With respect to the part of the Lender’s rights that Party B makes compromises to Borrower in the reconciliation agreement or the re-construction plan and hence is not settled, Party B shall still be entitled to request Party A to continuously settle.