Common use of Effectiveness of a Contract Clause in Contracts

Effectiveness of a Contract. This contract shall come into force upon being signed and sealed by the legal representatives (responsible persons) or authorized signatories of both parties. This contract is made in duplicate with each party holding the same legal effect. To: __________/_________ (Borrower) 1. Our bank and your company have signed the Working Capital Loan Contract numbered ______/____.Under the aforementioned contract, our bank, as the lender, provides the loan to your company at an annualized interest rate of ___/___.The annualized rate of interest (☐ simple /☐ compound (optional)) consists of: (1) The loan interest calculated according to the loan interest rate stipulated in Paragraph 1 of Article 4 of the aforesaid Contract; (2) All expenses directly related to the loan as stipulated in Article ______/__ of the aforesaid Contract;(Delete if not applicable) (3) All kinds of charges directly related to the loan agreed in the _______/__ (number: __/___) separately signed by your company and our bank.(Delete if not applicable) 2. This notification letter, as an attachment to the aforementioned contract, constitutes an integral part and has the same legal effect as the aforementioned contract. The provisions of the aforementioned contract shall apply to the matters not agreed herein.