Common use of Funds Transfer-out Clause in Contracts

Funds Transfer-out. 3.3.1. Party A's authorized representatives may give Party B written instructions on fund transfers ("Fund Transfer Instructions") and Party B shall carry out such instructions with no obligation to check if such representatives have appropriate authorization to issue such instructions on behalf of Party A. Such instructions shall state the amount and the date of transfer, but shall not dictate the specific assets to be disposed of. For any transfer of funds in an amount less than 500 million yuan, the Fund Transfer Instructions shall be given one business day before such transfer is made. For any transfer of funds in an amount of more than 500 million yuan but less than 1 billion yuan, the Fund Transfer Instructions shall be given two business days before such transfer is made. For any transfer of funds in an amount of more than 1 billion yuan, the Fund Transfer Instructions shall be given three business days before such transfer is made. If for any special reason the Fund Transfer Instructions cannot be given in accordance with the above requirements, both parities shall agree upon another time in advance. Party B, after receiving such Fund Transfer Instructions, shall remit funds to the designated account of Party A in accordance with the instructions. Party B shall confirm with Party A in writing such remittance on the date such remittance is made to the designated account of Party A. Such funds shall no longer constitute part of the Entrusted Assets once Party B issues the written confirmation that the funds have been transferred into the Transfer-out Account, unless Party A, within 3 business days after receiving such written confirmation, raises an objection.