Common use of Rights and Obligations of Lender Clause in Contracts

Rights and Obligations of Lender. 1. The Lender shall have the right to keep informed of conditions of the Borrower’s business and financial activities as well as inventories of materials and use of the Loan, and to require the Borrower to provide financial statements as well as other materials and information on a regular basis. 2. When the Borrower incurs any of the unfavorable actions or situations set forth in provisions including without limitation to Sub-clauses 7, 8 and 10 of Article IV herein that is sufficient to endanger security of the Loan, the Lender may suspend release of the Loan or recover it earlier. 3. When recovering principal, interest, penal interest, compound interest of the Loan and other fees and charges payable by the Borrower as contracted herein or earlier than scheduled, the Lender may transfer the amounts to be so recovered from any account of the Borrower. 4. When the amount paid by the Borrower is insufficient to pay off the sum due and payable hereunder, the Lender may opt to use the amount to pay the principal, interest, penal interest, compound interest or fees and charges of the Loan. 5. If the Borrower has failed to fulfill the obligation of paying the Loan, the Lender may publicly disclose the Borrower’s default. 6. The Lender shall release the Loan to the Borrower in full amount and on time as agreed herein.

Rights and Obligations of Lender. 1. The Lender shall have the right to keep informed of conditions of the Borrower’s business and financial activities as well as inventories of materials and use of the Loan, and to require the Borrower to provide financial statements as well as other materials and information on a regular basis. 2. 1 When the Borrower incurs any of the unfavorable actions or situations set forth in provisions including without limitation to Sub-clauses 7, 8 and 10 of Article IV herein that is sufficient to endanger security of the Loan, the Lender may suspend release of the Loan or recover it earlier. 3. 2 When recovering principal, interest, penal interest, compound interest of the Loan and other fees and charges payable by the Borrower as contracted herein or earlier than scheduled, the Lender may transfer the amounts to be so recovered from any account of the Borrower. 4. 3 When the amount paid by the Borrower is insufficient to pay off the sum due and payable hereunder, the Lender may opt to use the amount to pay the principal, interest, penal interest, compound interest or fees and charges of the Loan. 5. 4 If the Borrower has failed to fulfill the obligation of paying the Loan, the Lender may publicly disclose the Borrower’s default. 6. 5 The Lender shall release the Loan to the Borrower in full amount and on time as agreed herein.