Common use of Event of breach of contract Clause in Contracts

Event of breach of contract. (1) The Borrower fails to use the loan in accordance with the agreed usage of the Loan; (2) The Borrower fails to repay the due principal and pay the interests, expenses or other payable in accordance with the agreed term of this contract; (3) The Borrower breaches other loan agreements or guaranty agreements or the Guarantor breach the guaranty agreement which may make impact the Borrower to perform the obligations under this contract. (4) Conclusive evidence to show that the Borrower lose the capacity of credit or during performance of the obligation under this contract, the financial conditions of the Guarantor are seriously deteriorating or other reasons caused the Guarantor the capacity of credit decline. (5) The Borrower breaches the other obligations under this contract.