Common use of Loan Fund Disbursement Clause in Contracts

Loan Fund Disbursement. Refer to Article 16, Section 7 of this contract. When the borrower submits a request for a loan withdrawal, they must specify the payment plan for the loan funds. If the borrower autonomously disburses the loan funds, the borrower must provide the lender with purchase and sale contracts and other transaction documents that prove the use of the funds from the previous month by the 20th of the following month after the withdrawal. A summary report of the loan fund payment status should also be provided. Entrusted payment by the lender means that the lender, based on the borrower’s withdrawal request and payment authorization, disburses the loan funds through the borrower’s account to the borrower’s transaction counterpart that complies with the contract’s agreed-upon purposes. Autonomous payment by the borrower means that, after the lender disburses the loan funds into the borrower’s account based on the borrower’s withdrawal request, the borrower autonomously pays the borrower’s transaction counterpart in compliance with the contract’s agreed-upon purposes.