Common use of Extension of Loan Clause in Contracts

Extension of Loan. If Party B needs to extend any loan due to its inability to repay such loan as scheduled hereunder, it shall submit a written application for extension to Party A one month prior to maturity of such loan; if Party A approves such application for extension upon review, both Parties will separately execute an extension agreement. If Party A disapproves the said application for extension, the loan already utilized by Party B and the interests due thereon shall still be repaid according to this Agreement and relevant promissory note or the provisions recorded in Party A’s system.

Extension of Loan. If In case that Party B is unable to make repayment of this loan under this contract by the due date and needs to extend any loan due to its inability to repay such loan as scheduled hereunderhandle extension of this loan, it Party B shall submit a written file an application for extension in writing to Party A one month prior to maturity ahead of such loanexpiration of this contract; if where Party A approves agrees on such application for extension upon reviewbased on examination, both Parties will separately execute an extension agreement. If Party A disapproves and Party B shall otherwise sign the said application for Agreement of Extension of Term of Loan Contract. In case that Party A disagrees with such extension, the this contract shall be still valid. With respect to any part of this loan already utilized by or unpaid interest which Party B and the interests due thereon has used, repayment shall still be repaid according to made in accordance with this Agreement and relevant promissory note or the provisions recorded in Party A’s systemcontract.

Extension of Loan. If In case that Party B needs fails to extend any make repayment of this loan under this contract by the due to its inability to repay such date and thereof extension of this loan as scheduled hereundermust be handled, it Party B shall submit a written file an application for extension in writing to Party A one month prior to maturity ahead of such loanexpiration of this contract; if where Party A approves agrees on such application for extension upon reviewbased on examination, both Parties will separately execute an extension agreement. If Party A disapproves and Party shall otherwise sign the said application for Agreement of Extension of Term of Loan Contract. In case that Party A disagrees with such extension, the this contract shall be valid as before. With respect to any part of this loan already utilized by or payable interest which Party B and the interests due thereon has used, repayment shall still be repaid made according to this Agreement and relevant promissory note or the provisions recorded in Party A’s systemcontract.

Extension of Loan. If Party B A is unable to pay back the loan under the contract and needs to extend any loan due to its inability to repay such loan as scheduled hereunderit, it shall submit a written application for extension Party A should apply to Party A B one month prior early in advance written notice. If the application is reviewed and approved, the two Parties will enter into another new contract for extension. If the application is denied, this Contract will remain effective. As to maturity of such loan; if case, Party A approves such application for extension upon review, both Parties will separately execute an extension agreement. If Party A disapproves the said application for extension, should pay back the loan already utilized and interest payable, which has been used by Party B and A, in accordance with the interests due thereon shall still be repaid according to this Agreement and relevant promissory note or the provisions recorded in Party A’s systemContract.