Entrusted payment. Entrusted payment means Party A pays the loan amount to Party B’s counter-party meeting the purpose specified herein through Party B’s account according to Party B’s drawdown application and payment entrustment. Party B authorizes Party A to pay the loan funds adopting entrusted payment to Party B’s counter-party through Party B’s account on the date when the loan funds are issued (or the working day after the issuance).
Entrusted payment. 3.4.3.1.1 In case one of the following circumstances exists, the borrower shall commission the lender to pay the loan to the counterparty of the borrower that is in line with this contract and agreed purpose in the business contract related to use of the loan:
(1) The payment object is definite and the amount of one single withdrawal exceeds 90% of the loan amount;
(2) The payment object is definite and the amount of one single withdrawal exceeds RMB Nine million (including the equivalence of foreign currency);
(3) Other circumstance agreed between the two parties: N/A
3.4.3.1.2 In case entrusted payment is used, the borrower shall submit to the lender around three days before to application of withdrawal and “Entrusted Payment Notice”, and provide business contract, invoices, other documents and materials related to use of loan. After they are examined and confirmed, the lender will pay the loan directly to the counterparty of the borrower through the account of the borrower. In case the withdrawal application of the borrower is not in line with withdrawal conditions hereunder, or the application of entrusted payment has inconformity with the contract, incomplete or untrue trading materials or other circumstances, the lender could refuse to issue or pay the corresponding loan. The lender assumes no liability for borrower’s breach of contract with his counterparty or other losses. The lender assumes no liability for delayed or failed payment of loan arising from inaccurate or incomplete payment information provided by the borrower.
3.4.3.1.3 In case the borrower applies to defer or withdraw the entrusted payment, he shall file the application to the lender in writing before the payment is made by the lender; the entrusted payment will be suspended and corresponding loan could be taken back after it is examined and confirmed by the lender. In this period, interest shall be calculated as agreed hereunder for the corresponding loan. In case the borrower wants to resume the entrusted payment after it is suspended, he shall handle it as agreed in Subparagraph 3.4.3.1.2.
3.4.3.1.4 Payment entrustment shall be attached no conditions. In case the borrower attaches conditions in the “Entrusted Payment Notice”, the conditions shall bring no obligations to the lender. Unless otherwise agreed in writing between the two parties, the lender bears no obligations of informing the borrower when handling entrusted payment, payment suspension, payment withdrawal, payment res...
Entrusted payment. If a single payment amount of the loan funds exceeds RMB ZERO YUAN (in words), the Lender shall be entrusted to make the payment. The Lender shall, upon approval, pay the loan funds to the Borrower’s trading partner through the Borrower’s account according to the Borrower’s payment power of attorney, corresponding payment vouchers, business contracts and other supporting materials.
Entrusted payment. In case where payment is in compliance with the conditions of entrusted payment method, the Borrower shall clearly include in its drawdown application such entrust, which shall authorize and entrust the Lender to transfer to drawdown of the Loan from the Borrower’s account to the bank account of the trading party for which the purpose of the Loan is in compliance with the conditions under this Contract, and shall include the name, account number and amount of the payment of the trading party, which is necessary for the entrusted payment.
Entrusted payment. (1) When handling the entrusted payment, Party A shall open or designate a special account at Party B to handle the entrusted payment matters.
(2) When handling the entrusted payment, Party A shall provide Party B with the information of its loan account and payment object account and each withdrawal of the supporting materials that the withdrawal conforms to the agreed purpose. Party A shall guarantee that all the materials provided to Party B are true, complete and valid.
(3) When handling the entrusted payment, Party B shall only provide the information of the payment object and the financing purpose supporting materials provided by Party A Party B shall review the materials. If Party B fails to complete the entrusted payment in time due to the untrue, inaccurate and incomplete information provided by Party A, Party B shall not bear any responsibility.
(4) Party B finds any inconsistency or other defects in the use certification materials provided by Party A, etc Right to require Party A to supplement, replace, explain or resubmit relevant materials before Party A submits the materials satisfactory to Party B Have the right to refuse the payment and payment of the relevant funds.
(5) According to the different financing purposes of Party A, Party B shall have the right to request Party A, the independent intermediary agency and other relevant parties to issue a total Party B shall issue and pay the financing funds with the visa form and other relevant supporting materials.
(6) After examination, Party B considers that the information provided by Party A is consistent with the agreed financing purpose and the withdrawal complies with the financing contract For the specified preconditions, the financing funds shall be transferred to the account designated by Party A first, and then the corresponding funds shall be transferred to the payment object account of Party A according to the needs and the relevant business vouchers submitted by Party A.
(7) In any of the following circumstances, Party B shall have the right to redetermine the financing issuance and payment conditions, or stop the financing payment:
1. Party A provides false or invalid information to Party B to obtain financing;
2. Party A has suffered major adverse changes in production and operation, declining credit status or default under the financing contract;
3. If the financing fund is used for fixed assets investment, the project progress lags behind the use progress of funds;
4. Party A f...
Entrusted payment. If the single payment amount of the loan exceeds __/_ million RMB (in words), it will be made through the lender’s entrusted payment method. The lender will review and approve the borrower’s payment authorization letter along with corresponding payment vouchers, business contracts, and other supporting documents before transferring the loan funds to the borrower’s transaction counterpart via the borrower’s account.
Entrusted payment. 1.1 Party A entrusts Party B to make the payment and Party A and Party B agree that Party B shall make such payment according to the actual situation of Party C.
Entrusted payment. Method of entrusted payment should be used in one of the following situations that:
i. the Borrower and the Lender have newly established a credit business relationship and the internal rating of the Borrower at the Lender is below B3(included). “Newly established credit business relationship” means a credit business relationship established by the Borrower and the Lender for the first time or no credit business relationship occurs during the last 2 years.
Entrusted payment. Party A submits a Payment Request and related documents to Party B in accordance with the requirements set out in Appendix IV herein; if the request is approved, Party B will pay the relevant sums to a transaction party of Party A for the purpose described in this Contract, in accordance with Party A’s payment request and payment entrustment. If the amount of a single payment requested by Party A is more than 5% of the total investment of the fixed-asset investment project or is in excess of RMB 5 million yuan, Party A shall use Entrusted Payment.
Entrusted payment. (a) For any proposed utilisation amount exceeding RMB 10,000,000 (inclusive), such Loan shall be advanced by means of “entrusted payment”. The Facility Agent shall, upon the payment instruction and the particulars described in paragraph (b) of this Clause 5.6 below given by the Borrower, directly transfer the amount of the Loan to the relevant payee(s) on the date such amount is deposited into the Loan Account pursuant to paragraph (b) of Clause 5.4 (Lenders’ Participation) above. If the payee(s) or the payee(s) account number (s) given by the Borrower in its payment instruction are inconsistent with that in the particulars submitted by them in accordance with Clause 5.6(b)(i) below, the Facility Agent has the right to refuse such payment until such inconsistency has been resolved to the Facility Agent’s reasonable satisfaction.
(b) The Borrower shall, no later than 11:00 a.m. on the day at least five (5) Business Days before the Utilization Date, submit to the Facility Agent the following additional documents for the purpose of such “entrusted payment” together with the Utilisation Request:
(i) the particulars of the purpose of such utilisation and relevant supporting documents (including but not limited to payee name, payee account number, payment amount, purpose, contract number (if any), photocopy of the contract (if any), purchase order (if any), and invoice (if any)), subject to any applicable confidentiality obligations;
(ii) payment instruction; and
(iii) other materials as reasonably requested by the Facility Agent. In respect of item (i) above, any such contract, purchase order or invoice shall specify the name of the counterparty, payment amount (which shall be no less than the proposed drawdown amount) and name of goods (if applicable). In respect of item (ii), such payment instruction shall indicate the name of the payee which is consistent with the name of the counterparty as set out in the applicable contract, purchase order or invoice in item (i). The Facility Agent shall, (x) within one (1) Business Day after receiving the Utilisation Request, provide the Utilisation Request to the Lenders; (y) at least two (2) Business Days before the Utilisation Date but in any event promptly after reviewing the documents required above, confirm at its reasonable discretion whether such disbursement of the Loan proceeds is consistent with the loan purpose of the Facility and notify the Lenders of the same; and (z) within five (5) Business Days after the ...
