Payment of Loan. 1. The Loan Issuing Account The borrower shall open the following loan account with the lender through which the loan issuance and payment shall be handled. Account Name: Shengfeng Logistics Group Co., Ltd Account Number: **********
Payment of Loan. 4.1 If the issuance account appointed by the borrower is the dedicated loan issuance account opened at the loaner, the issuance and payment of loan should be handled through the account, which may only be used to issue and externally pay the loan fund and only sell the certificate of “Application for Settlement Business” but may not be used to handle any check, draft, bank acceptance or any other settlement. When handling the allocation of loan fund independently, the borrower must handle procedures at the counter of the bank of deposit. The deposit interest of the account should be accounted into the repayment account of the borrower.
4.2 When drawing the loan according to this contract, the borrower should clarify the payment mode (entrusted payment by loaner or independent payment by borrower) and only one mode is applicable in each time of drawing.
4.3 In the mode of entrusted payment by loaner, the loaner will, after receiving the payment entrustment from the borrower and issuing the loan according to this contract, pay the loan fund directly to the counterparty of the borrower meeting the purpose specified in this contract through the account of the borrower. If the amount of a single payment is beyond the limit of the independent payment or any condition specified in Article 19.3, the mode of entrusted payment should apply. When choosing the mode of entrusted payment by the loaner, the borrower should submit the loaner with the Application for Use of Line of Credit, corresponding payment entrustment and other materials required by the loaner (including but not limited to the commercial contract, invoice and receipt) to clarify the amount of loan and the receiver and amount of payment, while the amount of drawn loan should equal to that of the payment.
Payment of Loan. 2.1 In consideration of the Resident making an interest free loan in the Loan Amount to the Scheme Operator, the Scheme Operator agrees to grant to the Resident the right to reside and upon termination or surrender of the right to reside to repay the Loan in the manner provided in Clause 3.
2.2 The Resident shall pay to the Scheme Operator the Loan Amount less any amount previously paid by the Resident to the Scheme Operator by way of deposit or reservation fee at the time of execution of the Residence Contract and this Loan Agreement and prior to taking up occupation.
Payment of Loan. Comply with the terms and conditions for repayment of the Loan in accordance with the terms of the Note and Guaranty.
Payment of Loan. Upon payment in full, at maturity, of all principal and interest due to Pledgee under the Note, together with any other amounts due to Pledgee under the terms of the Note or this Agreement, less amounts received and applied by Pledgee in reduction of the Loan, and upon full satisfaction of all of the other Obligations provided for under this Agreement and the Note, Pledgee shall transfer to Pledgor all of the Pledged Shares and all rights received by Pledgee as a result of Pledgee's record ownership of the Pledged Shares and this Agreement shall terminate. Notwithstanding the above requirement that the Obligations be satisfied in full prior to Pledgee's release of its interest in the Pledged Shares under this Agreement, Pledgee shall extend all reasonable cooperation to Pledgor in connection with any proposed sale by Pledgor of the Pledged Shares, provided the proceeds of such sale shall be applied by Pledgor to repay the Loan in full, together with all other amounts owed to Pledgee with respect to the Obligations.
Payment of Loan. 5.1 The loan under this Contract shall be paid in the second way as follows:
(1) Self-payment, that is, the Lender shall directly transfer the loan funds to the loan issuing account stipulated in Article 4 of the Contract Element Clauses
(2) Entrusted payment, that is, the Lender, according to the payment entrust of the Borrower and upon examination and approval, transfers the loan funds conforming to the agreed purpose of this Contract to the designated transaction object of the Borrower through the loan release account stipulated in Article 4 of the Contract Element Clauses. ZHONGGUANCUN BANK Loan Contract (applicable to offline single loan business) - 2022V1.0
(3) Entrusted payment shall be adopted if the following conditions are met, and the self-payment shall be adopted for the others: The entrusted payment condition is that the single payment amount of the Lender is more than RMB / ten thousand (inclusive).
(4) The Lender shall determine the payment method according to the Borrower’s withdrawal application, loan purpose, relevant laws, regulations, regulatory provisions and the Lender’s own risk management requirements.
(5) Others: /
Payment of Loan. The unpaid principal amount of each Loan plus --------------- all accrued and unpaid interest thereon and all other amounts owed hereunder with respect thereto shall be paid in full in cash on the Maturity Date.
Payment of Loan. The Loan shall be repaid in annual installments payable on the last Business Day of each December ending after the date of this Agreement. The amount (if any) of each such annual installment shall be equal to the maximum amount of principal and interest accrued to and including the date of the payment that may be paid without resulting in the release for allocation to participants in the ESOP, pursuant to the Pledge Agreement, of a fraction of the Shares pledged as collateral security pursuant to the Pledge Agreement as of the first day of the calendar year in which the payment is made that is greater than the fraction set forth in Column II below: Column I Column II Year of Payment Fraction of Collateral Released ----------------- ------------------- 2000 1/30 2001 1/29 2002 1/28 2003 1/27 2004 1/26 2005 1/25 2006 1/24 2007 1/23 2008 1/22 2009 1/21 2010 1/20 2011 1/19 2012 1/18 2013 1/17 2014 1/16 2015 1/15 2016 1/14 2017 1/13 2018 1/12 2019 1/11 2020 1/10 Column I Column II Year of Payment Fraction of Collateral Released ----------------- ------------------- 2021 1/9 2022 1/8 2023 1/7 2024 1/6 2025 1/5 2026 1/4 2027 1/3 2028 1/2 2029 1 provided, however, that the Borrower shall not be required to make any payment of principal due to be made in any period to the extent that such payment would not be deductible for federal income tax purposes under section 404 of the Code. Payments may be deferred to the extent that such payments would be in excess of the amount described above or otherwise would be nondeductible for federal income tax purposes. Any payment shall be applied first to the payment of accrued interest and second, if and to the extent that all accrued interest has been or is then being paid, to the payment of all or part of the Principal Amount.
Payment of Loan. SMC will pay the Lender the total amount of Fifty thousand dollars US$50,000) plus interest payment by or before October 31, 2003. If the Singing Machine is unable to pay this amount in full on October 31, 2003, the Lender agrees that it will convert its loan and all accrued interest into equity of the Singing Machine. The conversion price will be equal to the average trading price of the Singing Machine's common stock during the last five trading days prior to August 1, 2003. In the event the average price of the Singing Machine's stock is below the Conversion Price on Maturity Date, the Conversion Price will be recalculated so that it equal the average of the high and low sales prices during the 5 trading days prior to Maturity Date. After the Lender has converted its loan into equity, the Lender agrees that the Singing Machine will not have any obligation to repay the $50,000 loan.
Payment of Loan. Borrower (i) shall pay --------------- interest accrued on the Loan as provided in Section 2.2(a) and (ii) shall pay the Outstanding Principal as of the Commitment Termination Date and all interest thereon in 36 equal monthly installments, commencing on July 1, 1997 and thereafter on the first day of each month until the Maturity Date. All payments on the Loan shall be applied first to the payment of unpaid interest and the balance, if any, to Outstanding Principal. Amounts repaid by Borrower may not be reborrowed.
