Common use of Revolving Loan Clause in Contracts

Revolving Loan. 4.1 In case where the Loan under this Contract is revolving in nature, the first loan period shall be from the day of first drawdown, the commencement day for second loan period shall be one day after the end of first loan period. In case where the month in which the commencement day of any of the loan period does not contain a day corresponding to the day of first drawdown, the last day of that month shall be used and so forth. Unless otherwise agreed by the Lender, a set of loan period shall not be changed once it is confirmed. 4.2 The loan amount for each of the loan periods subsequent to the first loan period must be less than the previous loan period. Upon maturity of each loan period, the Borrower shall repay the Loan as per agreement. The loan within a single loan period shall not be revolved. 4.3 In case where floating rate is used for the RMB revolving loan, the benchmark lending rate shall be determined based on the benchmark lending rate as published by the People’s Bank of China for loans tenure corresponding to the loan period.

Revolving Loan. 4.1 In case where the Loan under this Contract is revolving in nature, the first loan period shall be from the day of first drawdown, the commencement day for second loan period shall be one day after the end of first loan period. In case where the month in which the commencement day of any of the loan period does not contain a day corresponding to the day of first drawdown, the last day of that month shall be used and so forth. Unless otherwise agreed by the Lender, a set of loan period shall not be changed once it is confirmed. . 4.2 The loan amount for each of the loan periods subsequent to the first loan period must be less than the previous loan period. Upon maturity of each loan period, the Borrower shall repay the Loan as per agreement. The loan within a single loan period shall not be revolved. 4.3 In case where floating rate is used for the RMB revolving loan, the benchmark lending rate shall be determined based on the benchmark lending rate as published by the People’s Bank of China for loans tenure corresponding to the loan period.