We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Rights and Obligations of Borrower Sample Clauses

Rights and Obligations of Borrower. 6.1 Borrower shall repay the Loan under this Contract and pay the interest hereunder in accordance with the date, amount, currency set forth in this Contract. 6.2 Borrower shall not use the proceeds of the Loan for any usage not stipulated in this Contract. 6.3 Borrower shall be liable for the expenses under this Contract, including but not limited to, expenses for notary service, authentication, evaluation and registration. 6.4 Borrower shall comply with the operation procedure and the general practice of the Lender and loan application, including but not limited to, facilitating Lender’s examination and supervision on Borrower’s operation status, and providing all the financial statements, or any other data and information requested by Lender, and shall guarantee that such documents, data and information are true, complete and accurate. 6.5 If any one of the following events occurs, Borrower shall notify the Lender within thirty (30) days and shall not commence such activities unless the Loan and interest under this Contract are repaid completely, or a repayment schedule and guarantee are approved and accepted by the Lender. These are as follows: 1. Selling, donating, renting, lending, assigning, mortgaging, pledging or disposing of all or substantial part of its assets. 2. Any substantial changes in organization or structure of the Borrower, including but not limited to, its operation, subcontracting, lease, affiliation, company restructuring, joint-stock, merger (consolidation), equity joint-venture (non-equity), spin-off, incorporation of subsidiary, asset assignment, reduction of registered capital, etc. 6.6 Borrower shall notify the Lender within seven (7) days of occurrence of any of the following events: 1. Amendment of the Articles of Association, change of Borrower’s name, change of legal representative , change of domicile, change of address, and change in the scope of its business. 2. Borrower or Guarantor’s (if any) intention to file for bankruptcy. 3. Borrower’s involvement in any major litigation or arbitration, or any lien or encumbrance is imposed on its assets. 4. Borrower’s guarantee to any other third party, which will have an adverse effect on its financial status and ability to perform its obligations under this Contract. 5. Borrower enters into a contract which will have a material adverse effect on its operation and financial status. 6. Borrower or Guarantor (if any) stops its operation, its business terminates or its business lice...
Rights and Obligations of Borrower. 1. The Borrower shall have the right to obtain and use the Loan as agreed herein. 2. The Borrower shall handle current settlements and deposits in connection with the Loan hereunder through the account set forth in Article II herein. 3. If the Loan hereunder is in a foreign currency, the Borrower shall properly fulfill appropriate approval, registration and other statutory procedures in connection with the Loan in accordance with applicable regulations. 4. The Borrower shall pay principal and interest of the Loan as scheduled. When the Borrower needs an extension of the term of the Loan, it shall lodge a written application to the Lender within 15 days before the maturity date of the Loan, and sign an extension agreement after obtaining the Lender’s consent. 5. The Borrower shall use the Loan for the purpose contracted herein without seizing or diverting the Loan for any other purposes. 6. The Borrower shall provide the Lender with true, complete and valid financial statements and other relevant materials and information on a monthly basis, and actively collaborate with the Lender’s inspection of its business and financial activities and use of the Loan hereunder. 7. The Borrower shall notify the Lender in advance in writing and obtain the Lender’s consent before it executes any contracting, lease, joint stock system reform, joint venture, consolidation, merger, division, asset assignment, application for cessation of operation for rectification purpose or for dissolution or bankruptcy, or any other action that is sufficient to cause changes to the debtor-creditor relationship hereunder or to impair the Lender’s realization of its creditor’s rights, and shall not implement any of the foregoing actions until it has identified the accountability for debts paying or paid off all debts earlier. 8. The Borrower shall immediately notify the Lender in writing when it incurs any other circumstances other than the actions set forth in the foregoing sub-clause that will have material negative influence on its fulfillment of the payment obligation hereunder, such as cessation of production, wind-up, registration cancellation, revocation of business license, legal representative or superintendent’s engagement in illegal activities or involvement in major legal actions or arbitration, severe difficulty in business operation, deterioration of financial status, etc., and shall implement the creditor’s right preservation measures that have been accepted by the Lender. 9. ...
Rights and Obligations of Borrower. (A) Borrower has the following rights: (1) Borrower has the right to withdraw and use all the loans in accordance with this contract; (2) Borrower has the right to require Lender to keep confidentiality of the information provided by Borrower in accordance with this agreement.
Rights and Obligations of Borrower. 1 The Borrower shall have the right to obtain and use the Loan as agreed herein.
Rights and Obligations of Borrower. 5.1 Borrower shall provide the true and accurate operational and financial information upon Lender’s requirement, including but not limited the balance sheet, the income statement and the cash flow statement. 5.2 Borrower shall repay the Loan under this Contract and pay the interest hereunder in accordance with the date, amount, currency set forth in this Contract. 5.3 Borrower shall not use the proceeds of the Loan for any usage not stipulated in this Contract. 5.4 Borrower shall be liable for the expenses under this Contract, including but not limited to, expenses for notary service, authentication, evaluation and registration. 5.5 Borrower shall comply with the operation procedure and the general practice of the Lender and loan application, including but not limited to, facilitating Lender’s examination and supervision on Borrower’s operation status, and providing all the financial statements, or any other data and information requested by Lender, and shall guarantee that such documents, data and information are true, complete and accurate. 5.6 If any one of the following events occurs, Borrower shall notify the Lender and shall not commence such activities unless the Loan and interest under this Contract are repaid completely, or a repayment schedule and guarantee are approved and accepted by the Lender. These are as follows: 5.6.1 Selling, donating, renting, lending, assigning, mortgaging, pledging or disposing of all or substantial part of its assets. 5.6.2 Any substantial changes in organization or structure of the Borrower, including but not limited to, its operation, subcontracting, lease, affiliation, company restructuring, joint-stock, merger (consolidation), equity joint-venture (non-equity), spin-off, incorporation of subsidiary, asset assignment, reduction of registered capital, etc. 5.7 Borrower shall notify the Lender immediately of any of the following events: 5.7.1 Amendment of the Articles of Association, change of Borrower’s name, change of legal representative , change of domicile, change of address, and change in the scope of its business. 5.7.2 Borrower or Guarantor’s (if any) intention to file for bankruptcy. 5.7.3 Borrower’s involvement in any major litigation or arbitration, or any lien or encumbrance is imposed on its assets. 5.7.4 Borrower’s guarantee to any other third party, which will have an adverse effect on its financial status and ability to perform its obligations under this Contract. 5.7.5 Borrower enters into a contrac...
Rights and Obligations of Borrower. (vi) Undesirable consequences; (vii) Personal data processing start and ending time.
Rights and Obligations of Borrower. I. Allowed to obtain and use loan based on the contract, and without written consent of lender, not allowed to change purpose of loan. II. Perform debt based on the contract, and fully return principal and interest of loan on schedule. III. Provide true, accurate, complete and legal and effective certificates of incomes and assets and financial statements and all account opening cooperatives (banks), account numbers and other relevant materials based on requirements of lender. If it is necessary to issue VAT invoices, materials such as invoicing information shall be provided. IV. Accept inspection and supervision on production and operation, financial activities, loan use and the like of borrower from lender. V. Xxxxxxxx may not maliciously transfer assets, withdraw capital or arbitrarily transfer shares, to avoid liabilities of the contract. VI. To provide guarantee for other debts, lender shall be notified in advance, and realization of creditor’s right of lender may not be affected; without written consent of lender, it is not allowed to provide guarantee for other debts with assets formed from the loan in the contract. VII. In case of application for change of name. legal representative, Articles of Association, address, business scope, registered capital and other items, lender must be notified in writing 10 days in advance. VIII. In case of contracting, lease, joint venture, shareholding system transformation, merger, separation, asset disposal, related transaction, external investment, substantial increase in debt financing and change in operation management method or property ownership organization form due to other reasons, lender must be notified in writing 30 days in advance, consent of lender must be obtained, and repayment and guarantee measures must be implemented. IX. In case of any event that will have adverse impact on performance of debt under the contract, such as suspension of production, closure of business, cancellation of registration, revocation of business license, legal representative, main person in charge or actual controller engaging in illegal activities, involving litigation or arbitration, operation difficulties, deterioration of financial conditions, occurrence of cross-default events, environmental and social risks, lender must be notified in writing within 3 days, and creditor’s right preservation measures recognized by lender must be implemented. X. If guarantor of loan in the contract suffers from suspension of producti...
Rights and Obligations of Borrower. Borrower should open basic account or general deposit account in Consignee’s business unit to handle the issue of borrowing, repayment, payment of interest, and so on
Rights and Obligations of Borrower. 13 Article 21 Security...................................................... 13
Rights and Obligations of Borrower. (1) The Borrower is entitled to request the Lender to provide loans in accordance with this Contract; (2) The Borrower shall withdraw the loans in accordance with the withdrawal proposal under this Contract; (3) The Borrower shall repay the principle and interest thereof in accordance with this Contract; (4) The Borrower shall conduct and complete all the relevant procedures in accordance with the regulations on foreign reserve administration of the state; (5) In the event that a transfer of operations or assets by the Borrower involves more than 20% of its total assets, a prior written consent by the Lender must be obtained; (6) In the event that there is a change to the ownership of assets or the structure of the Borrower by way of merger or demerger, the Borrower shall notify the Lender of the relevant change proposal 7 days in advance, and obtain the consent thereof by the Lender. The aforesaid change proposal shall not infringe upon the legitimate rights of the Lender under this Contract; (7) In the event that the guarantor's ability to provide guarantee under this Contract has been weakened, or the value of the mortgaged (pledged) property has decreased, the Borrower shall make up the security within the time limit as requested by the Lender, and the guarantor and the Lender shall enter into a valid security agreement according to the law; (8) In the event that the Borrower provides security for a third party, and the accumulative amount subject to such security will exceed 70% of the net assets set forth in the Borrower's most recent financial statements, a prior written consent by the Lender must be obtained. (9) The Borrower shall be prohibited from applying for loans from the Lender by falsely reporting on a construction project; and (10) The Borrower shall cooperate with the Lender for the purpose of rating the credit of the Borrower, and provide the relevant materials as requested by the Lender.