Common use of Duration of the Loans Clause in Contracts

Duration of the Loans. 1. Each of the Loans hereunder has no fixed term, and unless otherwise agreed herein, Party A shall unilaterally decide when to withdraw the Loans, provided that Party A shall notify Party B in writing one month in advance. 2. In case of any of the following circumstance, Party A is entitled to declare the immediate maturity of the Loans hereunder by written notice and require Party B to immediately repay the Loans: (1) Party B applies for or is declared of application for bankruptcy liquidation, reorganization or settlement; (2) Party B applies for or is declared of application for dissolution liquidation; (3) Party B is apparently insolvent or has other large debts that may affect Party B’s repayment of the Loans debts hereunder; (4) Party A and/or its designated buyer has/have fully exercised its/their equity purchase rights in accordance with the Exclusive Option Agreement of the Cooperation Agreements; or (5) Any guarantee of Party B, Party C and/or relevant signing Party under this Agreement or the Cooperation Agreements has been proved to be untrue or proved to be inaccurate in any material aspect; or Party B, Party C and/or relevant signing Party violate their commitments or obligations under this Agreement or the Cooperation Agreements.

Duration of the Loans. 1. Each of the Loans hereunder has no fixed term, and unless otherwise agreed herein, Party A shall unilaterally decide when to withdraw the Loans, provided that Party A shall notify Party B in writing one month in advance. 2. In case of any of the following circumstance, Party A is entitled to declare the immediate maturity of the Loans hereunder by written notice and require Party B to immediately repay the Loans: (1) Party B and/or Party D applies for or is declared of application for bankruptcy liquidation, reorganization or settlement; (2) Party B and/or Party D applies for or is declared of application for dissolution liquidation; (3) Party B and/or Party D is apparently insolvent or has other large debts that may affect Party B’s repayment of the Loans debts hereunder; (4) Party A and/or its designated buyer has/have fully exercised its/their equity purchase rights in accordance with the Exclusive Option Agreement of the Cooperation Agreements; or (5) Any guarantee of Party B, Party C C, Party D and/or relevant signing Party under this Agreement or the Cooperation Agreements has been proved to be untrue or proved to be inaccurate in any material aspect; or Party B, Party C C, Party D and/or relevant signing Party violate their commitments or obligations under this Agreement or the Cooperation Agreements.