OBLIGATIONS OF BORROWER. (1) Borrower shall provide the true documentation as required by Lender as well as the information on all deposit banks, accounts and balance of deposit/loan, and shall cooperate with Lender's survey, review and inspection; (2) Borrower shall accept Lender’s supervision on Borrower’s usage of credit funds and production & operation and financial activities; in the event that the loans under this contract is used in the construction of project, Borrower shall cooperate with Lender’s supervision and inspection on project, and shall promptly take reasonable treatment measures against Lender’s suggestions and requirements; (3) Borrower shall use the loan in accordance with the purposes as agreed in this contract, and shall not misuse the loan, and shall not use the loan to engage in equity investments; shall not use the loan in illegal speculative trading of securities, futures, real estate, etc.; shall not use the loan to engage in the mutual borrowing/lending activities between enterprises and other illegal activities restricted by the state; shall not otherwise misappropriate or misuse loan in other way; (4) Borrower shall repay the loan principal and interest in full and on time in accordance with the contract; (5) Without the prior written consent from Lender, Borrower shall not transfer the debt under this contract to third party in whole or in part; (6) Borrow shall bear expenses of costs in connection with this contract, including but not limited to, the cost incurred in notary, appraisal, evaluation, registration etc, and the costs incurred by Lender in achieving its creditor’s right; (7) Borrower shall not in any way reduce its registered capital; (8) In the following cases, Borrower shall obtain the prior written consent of Lender, and shall actively, in accordance with Lender’s requirements, carry out the measures to ensure the repayment of loan principal and interest and costs under this contract in full amount, otherwise, Borrower shall be deemed in default, then Lender has the right to take early collection of loan etc in accordance with Article XII of this contract: (i) In the event that Borrower applies for loan against third party (such as banks) in the amount more than RMB , or Borrower’s total debt is more than RMB , or Borrower provides a loan to third party in the amount more than RMB , or Borrower provides guarantee for the debt of third party in the amount more than RMB ; (ii) Borrower conducts major change in assets and property rights as well as the adjustment in operation manner and key management staff (including but not limited to, signing joint venture or cooperation contact with foreign businessmen or businessmen from Hong Kong, Macao and Taiwan; remove, close, shutdown, change the line of production; division, merger, acquisition, being merged, being acquired; reorganized, organized or converted into a incorporated company; become a shareholder or invest in an incorporated company or company with the fixed assets, such as house, machinery and equipment, or with the intangible assets, such as trademark, patent, proprietary technology, land use rights, or conduct property rights and operations rights transactions by lease, contracting, joint management, trust etc; the change of key management staff etc.). (iii) If Borrower conducts the change of equity (including but not limited to, equity transfer, trust, administration, pledge, etc.), Borrower shall inform Lender on a timely manner, and when the change in equity reaches at %, Borrower shall obtain prior written consent from Lender. (9) In the following events, Borrower shall promptly inform Lender, and shall actively, in accordance with Lender’s requirements, carry out the measures to ensure the repayment of loan principal and interest and costs under this contract in full amount: (i) Significant financial loss, loss of assets or other financial crisis; (ii) Wind-up, business license being suspended or cancelled, file or being filed for bankruptcy or dissolution; (iii) Major crisis in the operation or finance of its controlling shareholder and other affiliated company, affecting its normal operation; (iv) Personnel change in Borrower’s legal representative, directors or key officers, affecting its normal operation; (v) Major related transactions between Borrower and its controlling shareholder and other affiliated company, affecting its normal operation; (vi) Any litigation, arbitration or criminal, administrative penalties, which will bring significant adverse consequences to its operation or financial position; (vii) Other major issues that may affect the solvency of Borrower. (10) Borrower undertakes to maintain current asset and net asset value within , to maintain the ratio of assets and liabilities within , to maintain the asset liquidity ratio within . (11) As to the collection letters or collection documents sent or otherwise served by Lender, Borrower shall sign in and deliver the return receipt to Lender. (12) Borrower’s business under this contract shall be independent, and shall not be affected by the relations between either party of this contract and third party, except for those otherwise agreed in this contract.
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Samples: Loan Agreement (SGOCO Technology, Ltd.), Loan Agreement (SGOCO Technology, Ltd.), Loan Agreement (SGOCO Technology, Ltd.)
OBLIGATIONS OF BORROWER. (1) Borrower shall provide the true documentation as required by Lender as well as the information on all deposit banks, accounts and balance of deposit/loan, and shall cooperate with Lender's survey, review and inspection;
(2) Borrower shall accept Lender’s supervision on Borrower’s usage of credit funds and production & operation and financial activities; in the event that the loans under this contract is used in the construction of project, Borrower shall cooperate with Lender’s supervision and inspection on project, and shall promptly take reasonable treatment measures against Lender’s suggestions and requirements;
(3) Borrower shall use the loan in accordance with the purposes as agreed in this contract, and shall not misuse the loan, and shall not use the loan to engage in equity investments; shall not use the loan in illegal speculative trading of securities, futures, real estate, etc.; shall not use the loan to engage in the mutual borrowing/lending activities between enterprises and other illegal activities restricted by the state; shall not otherwise misappropriate or misuse loan in other way;
(4) 6.1. Borrower shall repay the loan principal and interest in full and on time the currency provided in accordance with the contract;Article 1.1 above.
(5) Without the prior written consent from Lender, 6.2. Borrower shall not transfer the debt misappropriates loan funds for other purpose.
6.3. Borrower shall pay any expenses incurred under this contract agreement including but not limit to third party in whole public notary fee, verification fee, valuation fee and registration fee.
6.4. Borrower warrants that it will cooperate with Lender on the supervision and inspection of the use of the funds borrowed under this Loan Contract and of the business condition of Borrower and that it will promptly provide all financial statements and related materials needed by Lender, which Borrower warrants to be true, complete and accurate.
6.5. Borrower warrants that it will issue written notices to Lender upon occurrence or in partpossible occurrence of the following events within thirty days thereof:
1. Borrower sells, leases, transfers or otherwise disposes of all or part of its assets;
(6) Borrow shall bear expenses 2. Borrower's operational system or organizational form of costs in connection with this contractproperty ownership is changed materially, including including, but not limited to, introducing the cost incurred in notarypractice of contracting, appraisalconducting leasing operations, evaluationentering into joint operations, registration etcrestructuring equity, merging with (acquiring) other entities, entering into a joint venture (cooperative arrangement), splitting into separate entities, setting up a subsidiary, transferring title to property, reducing capital, termination or dissolution and the costs incurred by Lender in achieving its creditor’s rightfiling for bankruptcy;
(7) 6.6. Borrower shall not in any way reduce warrants that it will issue written notices to Lender upon occurrence or possible occurrence of the following events within seven days thereof:
1. Borrower amends it articles of association, replaces its legal representative, reduces its registered capitalcapital or makes material changes in its finances or personnel
2. Borrower or Guarantor shall or may or has applied bankruptcy by Creditors.
3. Borrower is a party to a material legal suit or its main assets have been put under property preservation or other orders;
(8) In the following cases, Borrower shall obtain the prior written consent of Lender, and shall actively, in accordance with Lender’s requirements, carry out the measures to ensure the repayment of loan principal and interest and costs under this contract in full amount, otherwise, Borrower shall be deemed in default, then Lender has the right to take early collection of loan etc in accordance with Article XII of this contract:
(i) In the event that Borrower applies for loan against third party (such as banks) in the amount more than RMB , or Borrower’s total debt is more than RMB , or 4. Borrower provides a loan guaranty to a third party in the amount more than RMB , or Borrower provides guarantee for the debt of third party in the amount more than RMB ;
(ii) Borrower conducts major change in assets and property rights as well as the adjustment in operation manner and key management staff (including but not limited to, signing joint venture or cooperation contact with foreign businessmen or businessmen from Hong Kong, Macao and Taiwan; remove, close, shutdown, change the line of production; division, merger, acquisition, being merged, being acquired; reorganized, organized or converted into a incorporated company; become a shareholder or invest in an incorporated company or company with the fixed assets, such as house, machinery and equipment, or with the intangible assets, such as trademark, patent, proprietary technology, land use rights, or conduct property rights and operations rights transactions by lease, contracting, joint management, trust etc; the change of key management staff etc.).
(iii) If Borrower conducts the change of equity (including but not limited to, equity transfer, trust, administration, pledge, etc.), Borrower shall inform Lender on a timely manner, and when the change in equity reaches at %, Borrower shall obtain prior written consent from Lender.
(9) In the following events, Borrower shall promptly inform Lender, and shall actively, in accordance with Lender’s requirements, carry out the measures to ensure the repayment of loan principal and interest and costs under this contract in full amount:
(i) Significant financial loss, loss of assets or other financial crisis;
(ii) Wind-up, business license being suspended or cancelled, file or being filed for bankruptcy or dissolution;
(iii) Major crisis in the operation or finance of its controlling shareholder and other affiliated company, affecting its normal operation;
(iv) Personnel change in Borrower’s legal representative, directors or key officers, affecting its normal operation;
(v) Major related transactions between Borrower and its controlling shareholder and other affiliated company, affecting its normal operation;
(vi) Any litigation, arbitration or criminal, administrative penaltiesparty, which will bring significant have a material adverse consequences effect on its financial position or its ability to perform its operation or financial positionobligations under this Loan Contract;
(vii) Other major issues 5. Borrower has signed a significant contract that may affect has a material impact on its financial and operations;
6. Borrower or Guarantor stops production, suspense business, dismiss, suspense for reorganization, or business licence is withdrawn or terminated;
7. Illegal activities involving the solvency of Borrower, its legal representative or its principal officers;
8. Borrower experiences other matters which will produce a material adverse effect on its financial position or ability to repay its debt.
(10) Borrower undertakes to maintain current asset and net asset value within , to maintain the ratio of assets and liabilities within , to maintain the asset liquidity ratio within .
(11) As to the collection letters or collection documents sent or otherwise served by Lender, Borrower shall sign in and deliver the return receipt to Lender.
(12) Borrower’s business under this contract shall be independent, and shall not be affected by the relations between either party of this contract and third party, except for those otherwise agreed in this contract.
Appears in 2 contracts
Samples: Loan Agreement (China Biologic Products, Inc.), Loan Agreement (China Biologic Products, Inc.)
OBLIGATIONS OF BORROWER. (1) Borrower shall provide the true documentation as required by Lender as well as the information on all deposit banks, accounts and balance of deposit/loan, and shall cooperate with Lender's survey, review and inspection;
(2) Borrower shall accept Lender’s supervision on Borrower’s usage of credit funds and production & operation and financial activities; in the event that the loans under this contract is used in the construction of project, Borrower shall cooperate with Lender’s supervision and inspection on project, and shall promptly take reasonable treatment measures against Lender’s suggestions and requirements;
(3) Borrower shall use the loan in accordance with the purposes as agreed in this contract, and shall not misuse the loan, and shall not use the loan to engage in equity investments; shall not use the loan in illegal speculative trading of securities, futures, real estate, etc.; shall not use the loan to engage in the mutual borrowing/lending activities between enterprises and other illegal activities restricted by the state; shall not otherwise misappropriate or misuse loan in other way;
(4) Borrower shall repay the loan principal and interest in full and on time in accordance with the contract;
(5) Without the prior written consent from Lender, Borrower shall not transfer the debt under this contract to third party in whole or in part;
(6) Borrow shall bear expenses of costs in connection with this contract, including but not limited to, the cost incurred in notary, appraisal, evaluation, registration etc, and the costs incurred by Lender in achieving its creditor’s right;
(7) Borrower shall not in any way reduce its registered capital;
(8) In the following cases, Borrower shall obtain the prior written consent of Lender, and shall actively, in accordance with Lender’s requirements, carry out the measures to ensure the repayment of loan principal and interest and costs under this contract in full amount, otherwise, Borrower shall be deemed in default, then Lender has the right to take early collection of loan etc in accordance with Article XII of this contract:
(i) In the event that Borrower applies for loan against third party (such as banks) in the amount more than RMB , or Borrower’s total debt is more than RMB , or Borrower provides a loan to third party in the amount more than RMB , or Borrower provides guarantee for the debt of third party in the amount more than RMB ;
(ii) Borrower conducts major change in assets and property rights as well as the adjustment in operation manner and key management staff (including but not limited to, signing joint venture or cooperation contact with foreign businessmen or businessmen from Hong Kong, Macao and Taiwan; remove, close, shutdown, change the line of production; division, merger, acquisition, being merged, being acquired; reorganized, organized or converted into a incorporated company; become a shareholder or invest in an incorporated company or company with the fixed assets, such as house, machinery and equipment, or with the intangible assets, such as trademark, patent, proprietary technology, land use rights, or conduct property rights and operations rights transactions by lease, contracting, joint management, trust etc; the change of key management staff etc.).
(iii) If Borrower conducts the change of equity (including but not limited to, equity transfer, trust, administration, pledge, etc.), Borrower shall inform Lender on a timely manner, and when the change in equity reaches at %, Borrower shall obtain prior written consent from Lender.
(9) In the following events, Borrower shall promptly inform Lender, and shall actively, in accordance with Lender’s requirements, carry out the measures to ensure the repayment of loan principal and interest and costs under this contract in full amount:
(i) Significant financial loss, loss of assets or other financial crisis;
(ii) Wind-up, business license being suspended or cancelled, file or being filed for bankruptcy or dissolution;
(iii) Major crisis in the operation or finance of its controlling shareholder and other affiliated company, affecting its normal operation;
(iv) Personnel change in Borrower’s legal representative, directors or key officers, affecting its normal operation;
(v) Major related transactions between Borrower and its controlling shareholder and other affiliated company, affecting its normal operation;
(vi) Any litigation, arbitration or criminal, administrative penalties, which will bring significant adverse consequences to its operation or financial position;
(vii) Other major issues that may affect the solvency of Borrower.
(10) Borrower undertakes to maintain current asset fund and net asset value within , to maintain the ratio of assets and liabilities within , to maintain the asset liquidity ratio within .
(11) As to the collection letters or collection documents sent or otherwise served by Lender, Borrower shall sign in and deliver the return receipt to Lender.
(12) Borrower’s business under this contract shall be independent, and shall not be affected by the relations between either party of this contract and third party, except for those otherwise agreed in this contract.
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