Common use of Information Inquiry and Bad Information Submission Clause in Contracts

Information Inquiry and Bad Information Submission. For the purpose of entering into and performing this Contract, as well as to continuously understand the changes in the credit and operations of the Borrower during the period of this Contract: 7.1 The Borrower hereby authorizes the Lender to inquire, save and use Boxxxxxx’x relevant credit information, including basic information, credit information and credit report, through the financial credit information basic database established by the State, the credit reporting institutions and the national authorities. In accordance with the provisions of relevant laws and regulations or other normative documents or the requirements of financial regulatory authorities, the basic information of the Borrower, credit information under this Contract (including but not limited to contract information, business activities, transaction records and other relevant information), credit information and bad information (referring to the following information which has a negative impact on the credit status of the Borrower: including the information of not performing the obligations in accordance with this Contract, the information of the People’s Court’s judgment or adjudication/arbitration institution’s ruling on the performance of its obligations and compulsory execution, the information of administrative punishment, and other adverse information stipulated by laws and regulations and the supervision and administration department of credit industry under the State Council) should be reported and submitted to the financial credit information basic database established by the State, the credit reporting institutions and the national authorities (including but not limited to: administrative departments such as People’s Public Security, Procuratorate, People’s Court, Bureau of Industry and Commerce, Taxation Bureau, Social Security Bureau, Bureau of Land and Resources, real estate bureau, property bureau, accumulation fund administration, bureau of education, medical treatment department, civil affairs bureau) for inquiry and use by relevant entities for legitimate purposes. 7.2 The Borrower hereby undertakes that, due to the Borrower’s failure to perform its obligations under this Contract or the Guarantor’s failure to perform its obligations in accordance with the Guarantee Contract (hereinafter collectively referred to as “Borrower’s Breach of Credibility”), the Lender can submit the Borrower’s breach of credibility to the relevant banking association, and authorizes the relevant banking association to share and even publicize the information of the Borrower’s breach of contract and dishonesty among banking financial institutions in an appropriate manner; and the Borrower voluntarily accepts that the Lender and other banking financial institutions take joint disciplinary and rights protection measures including but not limited to: reducing the loan amount or stopping lending, and stopping opening a new settlement account, and suspending the Borrower’s legal representative/executive partner (appointed representative) for new credit cards.