Common use of Other Rights and Obligations Clause in Contracts

Other Rights and Obligations. (1) The Entrusting Party shall transfer its funds consigned into the account of the Lender for entrustment loans on a timely basis. The Lender will not commence draw-down procedures until the funds of the Entrusting Party have been remitted into the account of the Lender for entrustment loans. (2) The funds for Entrustment Loan shall be obtained from legitimate sources and may not be credit-extending fund obtained from the Lender; otherwise the Entrusting Party shall bear legal liability correspondingly. (3) The Entrusting Party and the Borrower shall provide true documents, statements and certificates as required by the Lender. (4) The Borrower shall repay the principal and interest of this Entrustment Loan in the same currency as lent, unless otherwise agreed by the Entrusting Party and the Borrower. (5) The Lender shall be entitled to examine the production and operation of the Borrower at any time and the Borrower shall provide active cooperation. (6) Both the Entrusting Party and the Lender shall have the right to supervise the usage of the loan by the Borrower. (7) The Entrusting Party shall have the right to take corresponding actions in accordance with law or this Agreement to call back the loan before maturity or settle the principal and interest of the overdue loan and the Lender shall give assistance as necessary. (8) The Borrower hereby irrevocably authorizes the Lender to deduct relevant amount from its account to repay the principal and interest of this Entrustment Loan. (9) The Lender will not assume any risk under this Entrustment Loan and will not be involved in any dispute between the Entrusting Party and the Borrower. (10) Unless otherwise agreed by the parties hereto, the Entrusting Party and the Borrower may not require the Lender to bear any other obligation or risk.