Common use of Granting and Payment of Loan Clause in Contracts

Granting and Payment of Loan. 4.1 The Borrower has to satisfy the below conditions before the Lender grants the Loan: 1) The guarantee contract under this Contract has come into effect and remains in full force and effect. 2) Borrower has already completed the statutory procedures of withdrawing the loan. 3) Borrower is not in breach of this Contract. 4) The Borrower and the Guarantor of this loan have already made full preparation of all related documents and completed the necessary procedures according to the Lender’s requirements.