Common use of Lender’s Rights and Obligations Clause in Contracts

Lender’s Rights and Obligations. 1. The lender has the rights to know the conditions of the Borrower’s operation condition, financial activity, inventory and the usage of the loan, and require the Borrower to provide documents, materials and information such as financial statements. 2. When adverse matters set forth in the NO. 7, 8 and 10 under the Article 4 occur, which may have sufficient impact on the security of the loan, the Lender can stop lending and then recover the loan before the maturity date of the loan. 3. When the Lender recover the loan according to the contract or recover in advance the loan principal, interest, penalty, compound interest and other fees the Borrower should pay, the Lender can pull out money from any of the Borrower’s accounts. 4. If the funds the Borrower repaid are not sufficient to cover all the amounts payable, the Lender can use the funds to recover the loan principal, interest, penalty, compound interest and fees. 5. If the Borrower doesn’t repay the loan, the Lender can publicly disclose the Borrower’s nonperformance. 6. The Lender should issue sufficient loan to the Borrower in time according to this contract.

Lender’s Rights and Obligations. 1. The lender has the rights to know the conditions of the Borrower’s operation condition, financial activity, inventory and the usage of the loan, and require the Borrower to provide documents, materials and information such as financial statementsstatements on time. 2. When adverse matters set forth in the NO. 7, 8 and 10 under the Article 4 occur, which may have sufficient impact on the security of the loan, the Lender can stop lending and then or recover the loan before prior to the maturity date of the loan. 3. When the Lender recover the loan according to the contract or recover in advance the loan principal, interest, penalty, compound interest and other fees that the Borrower should pay, the Lender can directly pull out money from any of the Borrower’s accounts. 4. If the funds that the Borrower repaid are not sufficient to cover all the amounts payable, the Lender can use the funds to recover the loan principal, interest, penalty, compound interest and fees. 5. If the Borrower doesn’t repay the loan, the Lender can publicly disclose the Borrower’s nonperformance. 6. The Lender should shall issue sufficient loan to the Borrower in time according to this contract.