Interest Settlement. (1) For the loan with fixed interest rate., the interest shall be calculated at the agreed interest at the time of settling the interest; for the loan with floating interest rate, the interest is calculated at the defined interest rate of floating periods, if there are several floating interest rate during one interest settlement period, the interest of each floating period shall be calculated first. On the interest settlement date, the interest of each floating period shall be added up for settling the interest of settlement period. (2) The interest of the loan under the Contract is settled on quarterly (monthly/quarterly) basis, the settlement date shall be 20th day of (monthly/last month of each quarter) last month of each quarter. Article 5 Release and Payment of the Loan One. Precondition for Releasing the Loan (1) Unless Party B wholly or partially waives, Party B will not release the loan until the preconditions set out below are satisfied: 1. Party A has, in accordance with the provisions of relevant laws, handled the approval, registration, delivery and other statutory formalities related to the loan under the Contract; 2. If the security is provided to the loan under the Contract, the security means or other guarantee means meeting the requirements of Party B have taken effect; 3. In the course of applying for the loan, the Borrower has provided the Lender all the documents and data required by the Lender, and such documents and data continue to remain effective. 4. Party A has no beaching agreed in the Contract. 5. Where Party A commission the Lender to pay the loan capital, he shall file the application for payment order and handle the relevant formalities, and shall provide the relevant transaction data and documents proving the loan purpose; if Party A pays the loan capital at his own discretion, he shall file the withdrawal application, and shall provide the relevant data and capital use plan proving the purpose of the Contract; 6. The competent authority does not restrict or prohibit the release of the loan under the Contract. 7. Party A has opened one settlement account at the Part B as capital supervision account; 8. Other preconditions agreed by the two parties for releasing the loan.
Appears in 1 contract
Samples: Working Capital Loan Contract (Silvan Industries, Inc.)
Interest Settlement. (1I) For the loan with a fixed interest rate., the interest shall be calculated at and settled according to the agreed interest at the time of settling the interest; for rate. For the loan with a floating interest rate, the interest is shall be calculated at according to the defined current interest rate determined in each floating period; In case of floating periods, if there are several floating interest rate during one fluctuation for multiple times in a single interest settlement period, the interest of in each floating period shall be calculated first. On , and the interest in this interest settlement period shall be calculated by totaling the interest in each floating period at the interest settlement date, the interest of each floating period shall be added up for settling the interest of settlement period.
(2II) The interest of the loan under this Contract shall be settled according to the Contract is following 1st method:
1. The interest shall be settled on quarterly (monthly/quarterly) a monthly basis, i.e., on the settlement date shall be 20th day of (monthly/last month each month;
2. The interest shall be settled on a quarterly basis, i.e., on the 20th day of each quarter) last month of each quarter;
3. This column is left blank.
Article 5 Release V Issuance and Payment of the Loan One. Precondition I Preconditions for Releasing Issuing the Loan
(1) Loan Unless Party B wholly gives up in whole or partially waivesin part, Party B will not release it is obligated to issue the loan until only if all the following preconditions set out below are continually satisfied:
1. Party A has, in accordance with the provisions of relevant laws, handled has completed the approval, registration, delivery delivery, insurance and other statutory formalities legal procedures related to the loan under the this Contract;
2. If the security is provided to the loan under the In case of any guarantee in this Contract, the security means or other guarantee means meeting the that meets Party B’s requirements of Party B have taken effecthas come into effect and remains valid;
3. In the course of applying Party A has opened an account for the loan, the Borrower has provided the Lender all the documents withdrawal and data repayment as required by the Lender, and such documents and data continue to remain effective.Party B;
4. Party A has no beaching does not have any breach of contract as agreed in the this Contract.;
5. Where Any circumstance specified in this Contract that may endanger the creditor’s rights of Party A commission the Lender to pay the loan capital, he shall file the application for payment order and handle the relevant formalities, and shall provide the relevant transaction data and documents proving the loan purpose; if Party A pays the loan capital at his own discretion, he shall file the withdrawal application, and shall provide the relevant data and capital use plan proving the purpose of the ContractB does not occur;
6. The competent authority does not restrict or prohibit the release of the loan under the Contract.this Contract is not prohibited or restricted from being issued by any law, regulation, rule or competent department;
7. Party A has opened one settlement account at A’s financial indicators continuously meet the Part B as capital supervision accountrequirements of Annex 2 “Financial Indicator Constraint Clause”;
8. Other preconditions agreed Party A has submitted relevant materials before the issuance of the loan in accordance with this Contract;
9. The materials provided by the two parties Party A for releasing the loan.Party B are legitimate, true, complete, accurate and effective, and meet other requirements proposed by Party B;
Appears in 1 contract
Interest Settlement. (1I) For the loan with a fixed interest rate., the interest, when being settled, shall be calculated according to the agreed interest rate. For the loan with a floating interest rate, the interest shall be calculated at according to the agreed interest at the time of settling the interest; for the loan with floating interest rate, the interest is calculated at the defined current interest rate determined in each floating period; In case of floating periods, if there are several floating interest rate during one fluctuation for multiple times in a single interest settlement period, the interest of in each floating period shall be calculated first. On , and the interest in this interest settlement period shall be calculated by totaling the interest in each floating period at the interest settlement date, the interest of each floating period shall be added up for settling the interest of settlement period.
(2II) The interest of the loan under this Contract shall be settled according to the Contract is following 1st method:
1. The interest shall be settled on quarterly (monthly/quarterly) a monthly basis, i.e., on the settlement date shall be 20th day of (monthly/last month each month;
2. The interest shall be settled on a quarterly basis, i.e., on the 20th day of each quarter) last month of each quarter.;
Article 5 Release and Payment of 3. This column is left blank
I. Preconditions for Issuing the Loan One. Precondition for Releasing the Loan
(1) Unless Party B wholly gives up in whole or partially waivesin part, Party B will not release it is obligated to issue the loan until only if all the following preconditions set out below are continually satisfied:
1. Party A has, in accordance with the provisions of relevant laws, handled has completed the approval, registration, delivery delivery, insurance and other statutory formalities legal procedures related to the loan under the this Contract;
2. If the security is provided to the loan under the In case of any guarantee in this Contract, the security means or other guarantee means meeting the that meets Party B’s requirements of Party B have taken effecthas come into effect and remains valid;
3. In the course of applying Party A has opened an account for the loan, the Borrower has provided the Lender all the documents withdrawal and data repayment as required by the Lender, and such documents and data continue to remain effective.Party B;
4. Party A has no beaching does not have any breach of contract as agreed in the this Contract.;
5. Where Any circumstance specified in this Contract that may endanger the creditor’s rights of Party A commission the Lender to pay the loan capital, he shall file the application for payment order and handle the relevant formalities, and shall provide the relevant transaction data and documents proving the loan purpose; if Party A pays the loan capital at his own discretion, he shall file the withdrawal application, and shall provide the relevant data and capital use plan proving the purpose of the ContractB does not occur;
6. The competent authority does not restrict or prohibit the release of the loan under the Contract.this Contract is not prohibited or restricted from being issued by any law, regulation, rule or competent department;
7. Party A has opened one settlement account at continuously meets the Part B as capital supervision accountrequirements of Annex 2 “Financial Indicator Constraint Clause” in its financial indicators;
8. Party A has submitted relevant materials before the issuance of the loan in accordance with this Contract;
9. The materials provided by Party A to Party B are legitimate, true, complete, accurate and effective, and meet other requirements proposed by Party B;
10. Other preconditions preconditions:
II. Loan Drawdown Plan Loan drawdown refers to Party B’s behavior of issuing the loan funds to the loan issuing account according to Party A’s application and the provisions of this Contract. The loan drawdown plan shall be determined according to the following method (I):
(I) The loan drawdown plan is made as follows:
1. December 11, 2020; Amount: RMB Five Million only;
2. This column is left blank; Amount: this column is left blank;
3. This column is left blank; Amount: this column is left blank;
4. This column is left blank; Amount: this column is left blank;
5. This column is left blank; Amount: this column is left blank;
6. This column is left blank; Amount: this column is left blank.
(II) The Loan Drawdown Plan is made as follows:
1. From (this column is left blank) to (this column is left blank) Amount: this column is left blank;
2. From (this column is left blank) to (this column is left blank) Amount: this column is left blank;
3. From (this column is left blank) to (this column is left blank) Amount: this column is left blank;
4. From (this column is left blank) to (this column is left blank) Amount: this column is left blank;
5. From (this column is left blank) to (this column is left blank) Amount: this column is left blank;
6. From (this column is left blank) to (this column is left blank) Amount: this column is left blank. This column is left blank
(III) Apply for fund use at any time according to Party A’s actual needs.
(IV) This column is left blank
III. Party A shall make use of the loan funds according to the loan drawdown plan as agreed in Paragraph II, and shall not advance, postpone, split or cancel the fund use unless otherwise agreed upon by Party B in writing.
IV. Where Party A uses the two parties for releasing loan funds in installments, the loanmaturity date of the loan shall still be determined according to the provisions of Article III of this Contract.
Appears in 1 contract
Interest Settlement. (1) For the loan with fixed interest rate., the interest shall be calculated at the agreed interest at the time of settling the interest; for the loan with floating interest rate, the interest is calculated at the defined interest rate of floating periods, if there are several floating interest rate during one interest settlement period, the interest of each floating period shall be calculated first. On the interest settlement date, the interest of each floating period shall be added up for settling the interest of settlement period.
(2) The interest of the loan under the Contract is settled on quarterly (monthly/quarterly) basis, the settlement date shall be 20th day of (monthly/last month of each quarter) last month of each quarter.
Article 5 Release and Payment of the Loan One. Precondition for Releasing the Loan
(1) Unless Party B wholly or partially waives, Party B will not release the loan until the preconditions set out below are satisfied:
1. Party A has, in accordance with the provisions of relevant laws, handled the approval, registration, delivery and other statutory formalities related to the loan under the Contract;
2. If the security is provided to the loan under the Contract, the security means or other guarantee means meeting the requirements of Party B have taken effect;
3. In the course of applying for the loan, the Borrower has provided the Lender all the documents and data required by the Lender, and such documents and data continue to remain effective.
4. Party A has no beaching agreed in the Contract.
5. Where Party A commission the Lender to pay the loan capital, he shall file the application for payment order and handle the relevant formalities, and shall provide the relevant transaction data and documents proving the loan purpose; if Party A pays the loan capital at his own discretion, he shall file the withdrawal application, and shall provide the relevant data and capital use plan proving the purpose of the Contract;
6. The competent authority does not restrict or prohibit the release of the loan under the Contract.
7. Party A has opened one settlement account at the Part B as capital supervision account;
8. Other preconditions agreed by the two parties for releasing the loan. _____________________________________________________________________________________________________________________________________________________________________.
(2) Party B will, within one business day after the above preconditions are satisfied, release the loan.
Appears in 1 contract
Samples: Working Capital Loan Contract (Silvan Industries, Inc.)
