Common use of Management of the Deposit Clause in Contracts

Management of the Deposit. 5.1 The deposit guarantees the tenant to properly and punctually pay the rent and perform other obligations regulated by Contract for Finance Lease. When the tenant strictly performs obligations according to Contract for Finance Lease or even though he breaks the contract, his actions are corrected and approved by Party A, Party A returns back the deposit in full amount to Party B and the deposit does not count interests within (five) working days after the lease term stated by Contract for Finance Lease is over. 5.2 If Contract for Finance Lease is terminated in advance, the tenant should pay account payable listed in Contract for Finance Lease ahead. If the tenant postpones paying or refuse to pay, Party A has rights even without the permission of Party B to voluntarily deduct relevant funds from the deposit paid by Party B. If after settling this account there is still some balance, Party A should returns back the balance of the deposit capital to Party B within (five) working days since Contract for Finance Lease is over. 5.3 Party A returns back the deposit to the following account of Party B according to regulations of Item 5.1: Account Name: Northern Altair Nanotechnologies Co., Ltd. Opening bank: Wu’an Branch of Bank of China Limited Bank account: 100399447466