Rights and Obligations of the Borrower. 1. The Borrower shall have the right to acquire and use the loan as agreed herein.
2. The Borrower shall deal with the settlement and deposit affairs relevant to the loan hereunder through the account agreed in the Article 2 hereof.
3. Where the loan hereunder is made in foreign currency, the Borrower shall go through relevant procedures for approval and registration and other procedures required by law in accordance with relevant provisions.
4. The Borrower shall repay the principal and interest of the money borrowed at the time as agreed. Where the Borrower needs to renew this Contract, it shall submit a written application thereof to the Lender 15 days before the maturity date of the loan, and an extension contract thereof shall be concluded with the Lender upon the Lender's consent.
5. The loan shall be used in the way as agreed herein, and shall not be illegally occupied or misappropriated.
6. The Borrower shall provide true, integrate and valid financial statements or other related data and information to the Lender on a monthly basis and shall actively cooperate with the Lender in examining its production operations, financing activities and its use of the loan hereunder.
7. Before taking such activities as contracting, leasing, joint-stock system reform, merger, split-up, establishing, joint ventures, asset assignment, applying for suspension of business or rectification, voluntary dissolution, voluntary bankruptcy and other activities which are enough to cause changes to the creditor's rights and liabilities herein or which are enough to influence the realization of the Lender's creditor's rights, the Borrower shall not carry out the foregoing activities unless it notifies the Lender in written form in advance and concurrently makes certain of its performance of debt or fulfills its repayment obligations in advance.
8. Save as provided in the above item 7 of this Article, where the Borrower is under any such other circumstances which will exert great detrimental effects on its fulfillment obligations of repayment hereunder as suspension of business, discontinuation of business, cancellation of registration, cancellation of business license, or where its legal representative or major principals are involved in illegal activities, the Borrower is involved in material lawsuits or arbitrations, or grave difficulties arise in its production operations, or deterioration happens in its financial condition, the Borrower shall forthwith send the Lender a w...
Rights and Obligations of the Borrower. Borrower is entitled to obtain and use the loan pursuant to the agreement.
Rights and Obligations of the Borrower. (1) Withdraw the loan as agreed hereunder;
(2) Repay principal and interest of the loan on time and in full amount;
(3) Use the loan in accordance with regulations of laws and the contract; the borrower shall not use the loan in fixed asset, equity and other investment, or production and business in fields or purposes prohibited by the state;
(4) Accept and actively cooperate with the lender and its agent in supervision and inspection of financial activities, using of the loan and other issues; promptly submit materials and information related to use of the loan and finance as required by the lender, and other related materials and information required by the lender;
(5) The borrower shall file a written application to the lender in advance and to secure approval of the lender for conducting the following activities, in which the lender could participate: Carry out contracting, lease, shareholding reform, joint operation, combination, merger, acquisition, separation, registered capital reduction, joint venture, transfer of main asset, significant investment, bond issuance, wholesale financing, significant related party transaction, applying for suspension for rectification, dissolution, bankruptcy and etc. ‚ Provide large security guarantee for debts of a third party, mortgage or pledge main assets to a third party, which may affect repayment capability of the borrower; ƒ The borrower has other circumstances that may result in significant changes of debtor-creditor relationship hereunder or affect the realization of creditor’s rights of the lender.
(6) The borrower shall inform the lender in writing within five days in case one if the following events occurs: The borrower and its legal representative, main principal or actual controller are involved in illegal activities; ‚ Stop production, suspended, cancelled, corporate business license revoked or canceled and etc.; ƒ Financial situation deterioration, serious difficulty in production and operation, or significant adverse dispute occurs; „ Other events that the borrower may have adverse effect on realization of creditor’s rights.
(7) The borrower shall inform the lender in writing within seven days in case one if the following events occurs: Changes in subordinate relationship, significant changes of senior management and significant adjustment of organizational structure; ‚ Significant changes in name, domicile, business scope and other items of industrial and commercial registration, or special i...
Rights and Obligations of the Borrower. Po dobu, po kterou bude vypůjčitel na základě této smlouvy předmět výpůjčky užívat, je povinen předmět výpůjčky užívat řádně v souladu s účelem, ke kterému obvykle slouží, a způsobem přiměřeným povaze a určení předmětu výpůjčky. Je povinen chránit předmět výpůjčky před ztrátou, zničením, poškozením nebo znehodnocením. During the period in which the Borrower shall use the Subject of Loan as set out in this Agreement, the Borrower shall be obligated to use it properly, in accordance with the purpose which it usually serves, and in a manner commensurate with the nature and purpose of the Subject of Loan. The Borrower is obligated to protect the Subject of Loan from loss, destruction, damage or loss of value.
Rights and Obligations of the Borrower. Borrower is entitled to obtain and use the loan pursuant to the agreement. Borrower shall return the principal and interests timely. Borrower can extend the term of the loan when getting the consent of Lender pursuant to the agreement. Consent of Lender should be obtained when any of the Borrower’s guaranties or mortgages on his (her) major assets for a third party is possible to be detrimental to Borrower’s capability of repayment under the agreement. Borrower guarantee all of its statement is true and accurate Borrower bears the relevant fees under the agreement.
Rights and Obligations of the Borrower. 1. The Borrower shall have the right to acquire on schedule and use the loan according to the provisions hereof.
2. The Borrower shall repay the principal of the loan on the repayment date provided by Article 1(4)(1) hereof or on the early repayment date agreed by both Parties under Article 1(4)(2) hereof.
3. The Borrower shall use the loan for the usage provided hereunder and shall not divert or misappropriate the loan.
Rights and Obligations of the Borrower. 1. The borrower is entitled to obtain and use the loan according to this contract.
2. The borrower is entitled to settlements and deposits according to the account settlement agreement in Article Two and other related items under this contract.
3. The borrower shall ensure the related documents complete including approval, registration and other legal documents, for foreign currency loan under this contract,
4. The borrower shall repay the loan and interest on schedule. In terms of extensions, the borrower shall apply to the lender in written form 15 days before the due date, and sign the extension agreement with the lender’s approval.
5. The borrower shall use the loan as is prescribed in this contract, misappropriation or diversion shall not be allowed.
6. The borrower shall provide complete, true and effective financial report and other related data, information to the lender, and cooperate with the lender to investigate on the production, operation, finance and other activities that the loan is used.
7. Should any change to the borrower, including implementation of contracting, leasing, joint-stock reform, joint venture, merger, consolidation, division, joint ventures, transfer of assets to apply for suspension of business for rectification, application for dissolution, bankruptcy and other cases that may cause changes in liabilities under this contract or that may affect the lender’s claim of the loan, the borrower shall inform the lender in written form ahead and get the lender’s approval, and confirm the liability to the debt or clear the loan ahead of schedule, otherwise the borrower shall not execute any change mentioned above.
8. The borrower shall inform the lender in written form immediately, in addition to the above listed changes, also when there is any other circumstances that may have significant adverse impact on the repay obligations under this contract, for example, business outage, cancellation of registration, revocation of business license, illegal activities of the legal representative or main responsible person, serious difficulties in production and management, deteriorating financial situation.
9. The borrower shall inform the lender in written form ahead and get the lender’s approval when the borrower is willing to guarantee the debts of others, mortgage, pledge to a third party as the main property, which may affect the borrower’s capacity under this contract
10. The borrower and related investor must not conduct capital flight,...
Rights and Obligations of the Borrower. 19.1 It may withdraw and use the loans in line with the terms agreed herein.
19.2 It shall repay the loan principal and interest in full on schedule.
19.3 It shall deal with the settlement of account current and deposits related to the loans hereunder through the account stipulated in Article 10 hereof.
19.4 Where the loan hereunder is borrowed in a foreign currency, it shall duly go through the formalities of approval and registration as well as other statutory formalities related to the said loan in accordance with relevant provisions; for the loan in foreign currency, the Borrower cannot use it for foreign exchange settlement.
19.5 The Borrower shall accept and actively cooperate with the inspection and supervision carried out by the Lender and the entities or individuals entrusted thereby over its financial activities and the use of loan funds hereunder.
19.6 Where the Borrower has any of the following acts within the effective term of this Contract, it shall send a prior written notice to the Lender, and with the consent of the Lender, implement the measures for paying off debts or pay off debts in advance:
(1) acts enough to result in change in the relation between creditor’s rights and liabilities hereunder or affect the realization of creditor’s rights by the Lender, including contracting, lease, joint-stock transformation, joint operation, consolidation, merger, split-off, reduction in registered capital, joint venture, transfer of assets, foreign investment, application for business suspension for rectification, application for dissolution, application for bankruptcy;
(2) acts that may affect its solvency hereunder, such as providing guarantee for debts of others, or mortgaging and pledging its primary assets for a third person;
(3) acts to mortgage and pledge the project assets formed with the loan hereunder for any third party.
Rights and Obligations of the Borrower. 10.1 The Borrower shall be entitled to obtain and use the Loan as agreed herein.
10.2 Unless otherwise stipulated by laws, regulations, rules and/or this Agreement, the Borrower shall be entitled to require the Lender to keep confidential the individual or enterprise information in respect of family assets, financial materials, production and operation, etc. The Lender, if authorized by the Borrower, may disclose to the public material related to the Borrower within the scope of authorization.
10.3 The Borrower shall timely return the principals and interests in full in accordance with the Agreement.
10.4 The Borrower shall use the Loan for the purposes agreed in this Agreement and shall not use the Loan for any purpose other than those agreed herein. The Borrower shall guarantee that the purposes agreed herein comply with laws, regulations, rules, industrial codes and the Borrower’s articles of association and bylaws, and have obtained relevant licenses and authorization.
10.5 The Borrower shall guarantee that all the documents, materials and information provided by it to the Lender or any person designated by the Lender are true, reliable and effective without any forge, fraud or concealment. The Borrower shall provide the Lender with materials and information including but not limited to reports, statements, certificates and documents in respect of the Borrower’s business status, financial status, and shall guarantee that these materials and information are accurate, true, complete and effective.
10.6 The Borrower shall actively cooperate with the Lender and its authorized agent in their investigation into, understanding of and supervision on the Borrower and guarantor/securities’ production and operation, financial activities and use of the Loan hereunder.
10.7 If the Borrower conducts any of the following activities prior to its full settlement of the principals and interests hereunder, the Borrower shall give prior notice to the Lender. Unless it has obtained the Lender’s prior consent and guarantee is provided in compliance with the Lender’s requirements, and the liability for debt payment or prepayment is specified, the Borrower shall not implement the following activities:
10.7.1 To reduce the registered capital in any manner, to undergo any important system change such as division, merger, restructure, and stockholding system reform, or to apply for or undergo procedures like winding up, dissolution, liquidation and bankruptcy;
10.7.2 To implemen...
Rights and Obligations of the Borrower. Borrower is entitled to obtain and use the loan pursuant to the agreement. Borrower shall return the principal and interests timely. Borrower can extend the term of the loan when getting the consent of Lender pursuant to the agreement. Consent of Lender should be obtained when any of the Borrower’s guaranties or mortgages on his (her) major assets for a third party is possible to be detrimental to Borrower’s capability of repayment under the agreement. Borrower guarantee all of its statement is true and accurate Borrower bears the relevant fees under the agreement. Lender’s consent should be obtained if Borrower is willing to prepay the loan. The interest rate of prepayment shall accord with the agreement. Liquidated damages for delayed repayment: monthly interest rate plus 20% of the loan shall be imposed on the Company and the guarantor and mortgagor in case of the Company ’s breach of contract etc.
