Common use of Issuance and Transfer Clause in Contracts

Issuance and Transfer. 2.1 The withdrawal of the loan must meet the following preconditions; otherwise the lender is not obligated to make any transfer to the borrower, except that the lender agrees to make the transfer in advance: (1) Other than the credit loan, the borrower has provided corresponding guarantees as required by the lender and has completed relevant guarantees procedures; (2) At the time of withdrawal, the borrower’s statements and guarantees under this agreement are still true, accurate, and complete, and no breach of this agreement or any other agreements signed by the borrower or the lender has happened; (3) The proof of loan use provided is consistent with the agreed use; (4) Submit other information required by the lender. 2.2 If the borrower invests the loan under this agreement in fixed assets, in addition to satisfying the requirements under 2.1, the borrower must also satisfy the following requirements: (1) The invested project has obtained the examination, approval or filing from the relevant governmental agencies; (2) The invested projected has obtained the capital base or other supporting funds in a timely manner and in full amount; (3) The borrower is able to cover the excess expense that has or has not been incurred; (4) The borrower has completed the project schedule as planned, where actual progress of the project matches the corresponding invested amount. 2.3 If the borrower withdraws the loan through the designated business outlet of the lender, it must submit a withdrawal notice to the lender at least five working days in advance. Once the withdrawal notice is submitted, it cannot be revoked without the written consent of the lender. The lender shall stamp on the loan receipt with lender’s official seal or special financial seal by following the instructions on the withdrawal notice regarding the seal of holdback escrow signature. The lender hereby confirms that the loan receipt shall be valid if the holdback escrow signature contains both official and special financial seal or if a single or more seals are stamped on the loan receipt. 2.4 After the borrower satisfies the prerequisites for withdrawal or advances the loan with the consent of the lender, the lender will transfer the loan to the borrower ’s withdrawal account agreed in this contract, which means that the lender has issued the loan to the borrower in accordance with the contract. 2.5 According to the relevant regulatory regulations and lender management requirements, loans exceeding a certain amount or meeting other conditions should use the lender's entrustment payment method, and the lender will pay the loan to the person in accordance with the contract according to the borrower's withdrawal application and payment entrustment. For this purpose, the lender and the borrower shall sign an entrustment payment agreement as a supporting document for this agreement. The borrower shall open or designate an account with the lender for entrustment matters.

Issuance and Transfer. ​ 2.1 The withdrawal of the loan must meet the following preconditions; otherwise the lender is not obligated to make any transfer to the borrower, except that the lender agrees to make the transfer in advance:: ​ ​ ​ (1) Other than the credit loan, the borrower has provided corresponding guarantees as required by the lender and has completed relevant guarantees procedures;; ​ (2) At the time of withdrawal, the borrower’s statements and guarantees under this agreement are still true, accurate, and complete, and no breach of this agreement or any other agreements signed by the borrower or the lender has happened; (3) The proof of loan use provided is consistent with the agreed use;; ​ (4) Submit other information required by the lender.. ​ 2.2 If the borrower invests the loan under this agreement in fixed assets, in addition to satisfying the requirements under 2.1, the borrower must also satisfy the following requirements:: ​ (1) The invested project has obtained the examination, approval or filing from the relevant governmental agencies; (2) The invested projected has obtained the capital base or other supporting funds in a timely manner and in full amount; (3) The borrower is able to cover the excess expense that has or has not been incurred;; ​ (4) The borrower has completed the project schedule as planned, where actual progress of the project matches the corresponding invested amount.. ​ 2.3 If the borrower withdraws the loan through the designated business outlet of the lender, it must submit a withdrawal notice to the lender at least five working days in advance. Once the withdrawal notice is submitted, it cannot be revoked without the written consent of the lender. The lender shall stamp on the loan receipt with lender’s official seal or special financial seal by following the instructions on the withdrawal notice regarding the seal of holdback escrow signature. The lender hereby confirms that the loan receipt shall be valid if the holdback escrow signature contains both official and special financial seal or if a single or more seals are stamped on the loan receipt.. ​ 2.4 After the borrower satisfies the prerequisites for withdrawal or advances the loan with the consent of the lender, the lender will transfer the loan to the borrower borrower’s withdrawal account agreed in this contract, which means that the lender has issued the loan to the borrower in accordance with the contract.. ​ 2.5 According to the relevant regulatory regulations and lender management requirements, loans exceeding a certain amount or meeting other conditions should use the lender's ’s entrustment payment method, and the lender will pay the loan to the person in accordance with the contract according to the borrower's ’s withdrawal application and payment entrustment. For this purpose, the lender and the borrower shall sign an entrustment payment agreement as a ​ supporting document for this agreement. The borrower shall open or designate an account with the lender for entrustment matters.

Issuance and Transfer. ​ 2.1 The withdrawal of the loan must meet the following preconditions; otherwise the lender is not obligated to make any transfer to the borrower, except that the lender agrees to make the transfer in advance: (1) Other than the credit loan, the borrower has provided corresponding guarantees as required by the lender and has completed relevant guarantees procedures;; ​ (2) At the time of withdrawal, the borrower’s statements and guarantees under this agreement are still true, accurate, and complete, and no breach of this agreement or any other agreements signed by the borrower or the lender has happened; (3) The proof of loan use provided is consistent with the agreed use;; ​ (4) Submit other information required by the lender. ​ (5) Where the borrower draws the loan through the e-bank of the Industrial and Commercial Bank of China, the “Enterprise Customer Service Agreement of the Industrial and Commercial Bank of China e-Bank” signed by the borrower and the lender shall remain valid during the loan term. 2.2 If the borrower invests the loan under this agreement in fixed assets, in addition to satisfying the requirements under 2.1, the borrower must also satisfy the following requirements:: ​ (1) The invested project has obtained the examination, approval or filing from the relevant governmental agencies; (2) The invested projected has obtained the capital base or other supporting funds in a timely manner and in full amount; (3) The borrower is able to cover the excess expense that has or has not been incurred;; ​ (4) The borrower has completed the project schedule as planned, where actual progress of the project matches the corresponding invested amount.. ​ 2.3 If the borrower withdraws the loan through the designated business outlet of the lender, it must submit a withdrawal notice to the lender at least five working days in advance. Once the withdrawal notice is submitted, it cannot be revoked without the written consent of the lender. The lender shall stamp on the loan receipt with lender’s official seal or special financial seal by following the ​ ​ instructions on the withdrawal notice regarding the seal of holdback escrow signature. The lender hereby confirms that the loan receipt shall be valid if the holdback escrow signature contains both official and special financial seal or if a single or more seals are stamped on the loan receipt.. ​ 2.4 After the borrower satisfies the prerequisites for withdrawal or advances the loan with the consent of the lender, the lender will transfer the loan to the borrower ’s withdrawal account agreed in this contract, which means that the lender has issued the loan to the borrower in accordance with the contract.. ​ 2.5 According to the relevant regulatory regulations and lender management requirements, loans exceeding a certain amount or meeting other conditions should use the lender's ’s entrustment payment method, and the lender will pay the loan to the person in accordance with the contract according to the borrower's ’s withdrawal application and payment entrustment. For this purpose, the lender and the borrower shall sign an entrustment payment agreement as a supporting document for this agreement. The borrower shall open or designate an account with the lender for entrustment matters.