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 written notice thereof and shall made certain of the protective measures of creditor's rights accepted by the Lender. 9. Where the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to a third party with its principal properties which may influence its repayment capacity hereunder, the Borrower shall send the Lender a written notice thereof and shall obtain consent thereof from the Lender. 10. The Borrower and its investors shall not, without approval, withdraw their capital, transfer their assets, or assign their shares to evade their liabilities to the Lender. 11. Where there is any change to the name, legal representative, address or the scope of business of the Borrower, the Borrower shall send a written notice thereof to the Lender in time. 12. Where the assuror hereunder is under any of the following circumstances such as suspension of business, discontinuation of business, cancellation of registration, cancellation of business license, bankruptcy and poor operation, or the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgaged, the property pledged for the loan hereunder, or the value of the rights pledged decrease, the Borrower shall provide other warranty measures in time accepted by the Lender. 13. The Borrower shall assume such expenses for lawyer's service, insurance, transportation, evaluation, registration, custody, appraisal and notarization fees relevant to this Contract and the warrant hereunder.
Appears in 7 contracts
Samples: Loan Agreement (New Paradigm Productions Inc), Loan Agreement (New Paradigm Productions Inc), Loan Agreement (New Paradigm Productions Inc)
Rights and Obligations of the Borrower. 1. The Borrower shall have the right is entitled to acquire and use the loan as agreed hereinamount pursuant to this Agreement.
2. The Borrower shall deal with the may process transaction settlement and deposit affairs relevant deposits related to the loan hereunder through Loan under this Agreement via the account agreed in the provided under Article 2 hereof2.
3. Where the loan hereunder is made denominated in a foreign currency, the Borrower shall go through handle with relevant procedures for approval and registration approval, registration, and other legal procedures required by law in accordance related with the loan pursuant to relevant provisionsregulations.
4. The Borrower shall repay the principal and interest of the money borrowed at the time as agreedscheduled. Where If an extension for repayment is required, the Borrower needs to renew this Contract, it shall submit a written put forth an application thereof in writing to the Lender 15 days before prior to the maturity due date for repayment, and shall enter into a separate Extension of Loan Repayment Agreement upon the approval of the loan, and an extension contract thereof shall be concluded with the Lender upon the Lender's consent.
5. The loan Borrower shall be used use the Loan for the purposes provided in the way as agreed herein, and shall not be illegally occupied this Agreement. Unwarranted misappropriation or misappropriateddiversion is prohibited.
6. The Borrower shall provide truethe Lender with authentic, integrate complete and valid financial statements or and other related data relevant materials and information to the Lender on a monthly basis information, and shall actively cooperate with the Lender in examining its inspecting the Borrower’s production operations& operation, financing activities financial activities, materials & inventory, and its the use of the loan hereunderactively.
7. Before taking such activities as The Borrower is not allowed to engage in sub-contracting, leasinglease, transformation into stock company, joint-stock system reformoperation, merger, splitacquisition, separation, joint-upventure, establishingassets transfer, joint ventures, asset assignment, applying application for suspension of business or rectification, voluntary application for dissolution, voluntary bankruptcy application for bankruptcy, and other activities which are enough behaviors that may cause the debtor-creditor relationship under this Agreement to cause changes to the creditor's rights and liabilities herein change or which are enough to influence that may affect the realization of the Lender's ’s creditor's rights, ’s rights under this Agreement unless and until 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 writing, obtains approval from the Lender in advance, and makes arrangements for the assumption of such loan repayment responsibilities or makes early repayment of such loan.
8. Save as The Borrower shall notify the Lender in writing upon occurrence of any other situations that may adversely affect the Borrower’s performance of its repayment obligation under this Agreement other than the behaviors provided in the above item 7 of this Articlehereinabove, 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 businessproduction, discontinuation recession of business, cancellation of registration, cancellation revocation of its business license, or where its legal representative or major principals are involved executive officers engaging in illegal activities, the Borrower is being involved in material lawsuits major litigation or arbitrationsarbitration, or grave going through serious difficulties arise in its production operationsand operation, or deterioration happens in its of financial conditionstatus, the Borrower etc., and shall forthwith send adopt measures approved by the Lender a written notice thereof and shall made certain of the protective measures of to protect its creditor's rights accepted by the Lender’s rights.
9. Where The Borrower shall notify the Borrower Lender in writing and obtain approval from the Lender in advance if it provides a warranty guaranty for other person's liabilities ’s debt or provides a uses it main assets for mortgage or pledge to a at any third party with its principal properties party, which may influence affect its repayment capacity hereunder, ability to repay the Borrower shall send the Lender a written notice thereof and shall obtain consent thereof from the Lenderloan under this Agreement.
10. The Borrower and its investors shall not, are prohibited from taking out capital surreptitiously or transferring assets or shares without approval, withdraw their capital, transfer their assets, or assign their shares due authorization to evade their liabilities its debts to the Lender.
11. Where The Borrower shall notify the Lender in writing in a timely manner if there is any change to the in its name, legal representative, address or the scope of domicile, business of the Borrowerscope, the Borrower shall send a written notice thereof to the Lender in timeetc.
12. Where The Borrower shall provide other guarantees approved by the assuror hereunder is under any Lender in a timely manner if the Guarantor of the Loan under this Agreement is in the following circumstances situations, such as suspension of businessproduction, discontinuation recession of business, cancellation cancelation of registration, cancellation its business license being revoked, bankruptcy, and suffering operating losses, resulting in the loss of business license, bankruptcy and poor operation, all or the assuror loses part or all of its corresponding warranty capacity relating ability to this Contract, or the property mortgaged, the property pledged provide guaranty for the loan hereunder, Loan; or if impairment occurs in the value of the mortgage, pledge, pledge rights pledged decrease, for the Borrower shall provide other warranty measures in time accepted by the LenderLoan under this Agreement.
13. The Borrower shall assume such bear all expenses for lawyer's attorney service, insurance, transportation, evaluationassessment, registration, custody, appraisal and appraisal, notarization fees relevant that are related to this Contract Agreement and the warrant guarantee hereunder.
Appears in 5 contracts
Samples: Loan Agreement (Asian Financial Inc), Loan Agreement (Asian Financial Inc), Loan Agreement (Asian Financial Inc)
Rights and Obligations of the Borrower. 1. The Borrower shall have the right to acquire may obtain and use the loan as agreed hereinin accordance with this Agreement.
2. The Borrower shall deal with the make settlement and deposit affairs relevant related to the loan hereunder through the account agreed in the bank account referred in Article 2 hereof.
3. Where The Borrower shall acquire all approvals, registrations and fulfill all other formalities necessary for the loan hereunder if the same is made in related to the 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 pay the principal and interest interests when due. Any renewal to the loan term shall be subject to the written application at least 15 days prior to the expiration date and shall be effective only upon the approval 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 Borrower shall use such loan shall be used in accordance with this Agreement and may not use the way as agreed herein, and shall not be illegally occupied or misappropriatedsame for any other purposes.
6. The Borrower shall provide true, integrate the complete and valid accurate financial statements or statement and other related data materials and information to the Lender on a monthly basis basis, and shall actively cooperate with provide assistances to the inspection made by the Lender in examining its production operationson the business operation, financing financial activities and its the use of the loan hereunder.
7. Before taking such activities as contracting, The prior written notice to and approval by the Lender shall be necessary for the leasing, joint-stock system reformstock, partnership, merger, split-upconsolidation, establishingseparation, joint venturesventure, asset assignmentassignment of assets, applying for suspension of business or rectificationshutting down, voluntary dissolution, voluntary bankruptcy and or any other activities which are enough conducted or threatened to cause changes be conducted to the creditor's rights and liabilities herein or which are enough to influence the realization of the Lender's creditor's rights, by the Borrower shall not carry out which may prejudice the foregoing activities unless it notifies the Lender in written form in advance and concurrently makes certain safety of its performance of debt or fulfills its repayment obligations in advanceloan hereunder.
8. Save as provided in The prior written notice to the above item 7 of this ArticleLender and the appropriate protection measures shall be necessary for any other events except those listed above, where which including but not limited to the Borrower is under any such other circumstances which will exert great detrimental effects on its fulfillment obligations of repayment hereunder as production stopping, suspension of business, discontinuation of business, cancellation of registrationbusiness operation, cancellation of business licenselicenses, or where its the involvement of illegal activities by the legal representative or major principals are involved in illegal activitiesprincipal of the Borrower, the Borrower is involved in material lawsuits pending arbitration or arbitrations, or grave difficulties arise in its production operations, or deterioration happens in its financial conditionother legal proceedings, the Borrower shall forthwith send substantial difficulties for business operation and the Lender a written notice thereof and shall made certain deterioration of the protective measures of creditor's rights accepted by the Lenderfinancial conditions.
9. Where Any guarantee or mortgage provided by the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to a debts of any third party with its principal properties party, which may influence its repayment capacity hereunderprejudice the Repayment of loan hereunder may, be subject to the Borrower shall send the Lender a prior written notice thereof to and shall obtain consent thereof from approval by the Lender.
10. The Borrower and its investors shall not, without approval, withdraw their capitalmay not surreptitiously withdrawn funds, transfer their assets, assets or assign their shares to evade their liabilities escape the payment due to the Lender.
11. Where there is any Any change to the name, legal representative, address or the address, business scope of business of the Borrower, the Borrower shall send a written notice thereof be notified to the Lender in timeas quickly as possible.
12. Where the assuror hereunder is under any of the following circumstances such as suspension of business, discontinuation of business, cancellation of registration, cancellation of business license, bankruptcy and poor operation, or the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgaged, the property pledged for the loan hereunder, or the value of the rights pledged decrease, the The Borrower shall provide other warranty appropriate protection measures in time accepted by at the Lendersatisfaction of the Lender if the warrantor hereunder suspends its business operation or is shutting down, cancelled of business licenses, bankrupt or suffering losses which prejudice it’s competent for the guarantee hereunder or the values of subject matters of guarantee, pledge or lien have been decreased.
13. The Borrower shall assume such expenses for lawyer's servicerelated lawyer fees and costs of transport, insurance, transportation, evaluation, registration, custodystorage, appraisal and or notarization fees relevant to this Contract and hereunder shall be borne by the warrant hereunderBorrower.
Appears in 4 contracts
Samples: Loan Agreement (China Linen Textile Industry, LTD), Loan Agreement (China Linen Textile Industry, LTD), Loan Agreement (China Linen Textile Industry, LTD)
Rights and Obligations of the Borrower. 1. The Borrower shall have the right to acquire may obtain and use the loan as agreed hereinin accordance with this Agreement.
2. The Borrower shall deal with the make settlement and deposit affairs relevant related to the loan hereunder through the account agreed in the bank account referred in Article 2 hereof.
3. Where The Borrower shall acquire all approvals, registrations and fulfill all other formalities necessary for the loan hereunder if the same is made in related to the 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 pay the principal and interest of interests when due. Any renewal to the money borrowed at loan term shall be subject to the time as agreed. Where the Borrower needs to renew this Contract, it shall submit a written application thereof at least 15 days prior to the Lender 15 days before the maturity expiration date of the loan, and an extension contract thereof shall be concluded with the Lender effective only upon the approval of The Lender's consent.
5. The Borrower shall use such loan shall be used in accordance with this Agreement and may not use the way as agreed herein, and shall not be illegally occupied or misappropriatedsame for any other purposes.
6. The Borrower shall provide true, integrate the complete and valid accurate financial statements or statement and other related data materials and information to the Lender on a monthly basis basis, and shall actively cooperate with provide assistances to the inspection made by the Lender in examining its production operationson the business operation, financing financial activities and its the use of the loan hereunder.
7. Before taking such activities as contracting, The prior written notice to and approval by the Lender shall be necessary for the leasing, joint-stock system reformstock, partnership, merger, split-upconsolidation, establishingseparation, joint venturesventure, asset assignmentassignment of assets, applying for suspension of business or rectificationshutting down, voluntary dissolution, voluntary bankruptcy and or any other activities which are enough conducted or threatened to cause changes be conducted to the creditor's rights and liabilities herein or which are enough to influence the realization of the Lender's creditor's rights, by the Borrower shall not carry out which may prejudice the foregoing activities unless it notifies the Lender in written form in advance and concurrently makes certain safety of its performance of debt or fulfills its repayment obligations in advanceloan hereunder.
8. Save as provided in The prior written notice to the above item 7 of this ArticleLender and the appropriate protection measures shall be necessary for any other events except those listed above, where which including but not limited to the Borrower is under any such other circumstances which will exert great detrimental effects on its fulfillment obligations of repayment hereunder as production stopping, suspension of business, discontinuation of business, cancellation of registrationbusiness operation, cancellation of business licenselicenses, or where its the involvement of illegal activities by the legal representative or major principals are involved in illegal activitiesprincipal of the Borrower, the Borrower is involved in material lawsuits pending arbitration or arbitrations, or grave difficulties arise in its production operations, or deterioration happens in its financial conditionother legal proceedings, the Borrower shall forthwith send substantial difficulties for business operation and the Lender a written notice thereof and shall made certain deterioration of the protective measures of creditor's rights accepted by the Lenderfinancial conditions.
9. Where Any guarantee or mortgage provided by the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to a debts of any third party with its principal properties party, which may influence its repayment capacity hereunderprejudice the Repayment of loan hereunder may, be subject to the Borrower shall send the Lender a prior written notice thereof to and shall obtain consent thereof from the approval by The Lender.
10. The Borrower and its investors shall not, without approval, withdraw their capitalmay not surreptitiously withdrawn funds, transfer their assets, assets or assign their shares to evade their liabilities escape the payment due to the The Lender.
11. Where there is any Any change to the name, legal representative, address or the address, business scope of business of the Borrower, the Borrower shall send a written notice thereof be notified to the Lender in timeas quickly as possible.
12. Where the assuror hereunder is under any of the following circumstances such as suspension of business, discontinuation of business, cancellation of registration, cancellation of business license, bankruptcy and poor operation, or the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgaged, the property pledged for the loan hereunder, or the value of the rights pledged decrease, the The Borrower shall provide other warranty appropriate protection measures in time accepted by at the Lendersatisfaction of the Lender if the warrantor hereunder suspends its business operation or is shutting down, cancelled of business licenses, bankrupt or suffering losses which prejudice it’s competent for the guarantee hereunder or the values of subject matters of guarantee, pledge or lien have been decreased.
13. The Borrower shall assume such expenses for lawyer's servicerelated lawyer fees and costs of transport, insurance, transportation, evaluation, registration, custodystorage, appraisal and or notarization fees relevant to this Contract and hereunder shall be borne by the warrant hereunderBorrower.
Appears in 4 contracts
Samples: Loan Agreement (China Linen Textile Industry, LTD), Loan Agreement (China Linen Textile Industry, LTD), Loan Agreement (China Linen Textile Industry, LTD)
Rights and Obligations of the Borrower. 1. 9.1 The Borrower shall have is entitled to submit loan release application to the right Lender as specified in this Agreement.
9.2 The Borrower is entitled to acquire and use the loan as agreed hereinfor the purpose specified in this Agreement.
2. 9.3 The Borrower shall deal with is entitled to request the settlement Lender to keep confidential for the financial materials and deposit affairs relevant secrets of business production and management provided by the Borrower to the loan hereunder through Lender, except that is required by the account agreed in law or regulations, by the Article 2 hereofcompetent authoritative departments or otherwise stipulated by both parties.
3. Where 9.4 The Borrower ensures that it is legally incorporated and validly existing legal body entitled to dispose of the loan hereunder is made in foreign currencyproperty under its operation and management, to operate a business related to the borrowing purpose under this Agreement, to enter into and perform this Agreement.
9.5 The Borrower shall go through relevant procedures for approval and registration and other procedures required ensures that the signing of the Agreement have been approved by law higher authorities or the Board of Directors of the Company in accordance with relevant provisionsthe law, and have obtained all necessary authorizations.
4. 9.6 The Borrower shall repay the principal ensures that its execution and interest performance of the money borrowed Agreement does not violate any provisions binding on the Borrower and its assets, and does not violate any of the guarantee contracts signed by the Borrower with others, or other agreements as well as any other binding document of the Borrower , or the content of the agreements and commitments.
9.7 The Borrower ensures that the Lender requires complete documents and information, and ensures that the documents and information is true, accurate, complete, legal and effective.
9.8 The Borrower ensures to open a settlement account at the time as agreed. Where Lender’s bank or its designated agency in accordance with the Lender’s requirements, and to accept monitoring of the Lender against the settlement account in accordance with the relevant stipulations of the Agreement .
9.9 The Borrower needs ensures to renew this Contract, it shall submit a written application thereof use the loan according to the Lender 15 days before agreed purpose hereof, and shall not change the maturity date use of the loan, and an extension contract thereof shall be concluded with ; the Lender upon the Lender's consent.
5. The loan shall not be used for investment in the way as agreed hereinfixed assets, equity securities, futures, and shall not be illegally occupied or misappropriatedused for production and business areas and purposes banned by the nation.
69.10 The Borrower shall make withdrawals in accordance with this Agreement and repay the loan in accordance with the full amount of principal and interest, and shall undertake fees agreed in the Agreement.
9.11 The Borrower shall provide financial and accounting information, information on the production and operation status and related transactions in accordance with the requirements of the Lender, and is responsible for the authenticity, integrity and validity of the information provided. The Borrower shall not provide truefalse materials or shall not conceal material operating and financial facts, integrate and valid financial statements be ready to accept the supervision and inspection of the Lender at any time.
9.12 The Borrower shall not withdraw the funds or other transfer the assets or use related data transactions to escape the debt to the Lender, and information shall not apply to the Lender on a monthly basis and for discounting or pledge or falsely take funds or credit with fake agreements, notes receivables or accounts receivables or other claims without actual trade backgrounds.
9.13 The Borrower shall actively cooperate with notify the Lender one month in examining its production operationsadvance with written notice when taking actions influential enough to cause changes in the creditor-debtor relationship hereof or, financing activities and its use actions that will affect the Lender’s claims, such as implementation of the loan hereunder.
7. Before taking such activities as contracting, leasing, joint-stock system reform, joint venture, merger, split-upacquisition, establishingdivision, joint ventures, asset assignmenttransfer of assets or equity, applying application of suspending business for suspension of business or rectification, voluntary and application for dissolution. Meanwhile, 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 with the Lender's creditor's rights’s approval, the Borrower shall implement the debt settlement liability or prepayment of debt, or else shall not carry out implement the foregoing activities unless it notifies above acts.
9.14 The Borrower shall notify the Lender in written form 5 days in advance with written notice and concurrently makes certain pay off the principal and interest of its performance of debt or fulfills the loan when occurs any other circumstances in addition to the above actions that will materially and adversely affect its repayment obligations in advance.
8. Save under this Agreement, such as provided in the above item 7 of this Articleshutdown, where the Borrower is under any such other circumstances which will exert great detrimental effects on its fulfillment obligations of repayment hereunder as suspension close of business, discontinuation of businesssuspending business for rectification, cancellation of registration, cancellation revoke of its business license, or where its the legal representative or major principals are involved board members, or other provisions of the Companies Law, senior management engaged in illegal activitiesactivities involving litigation or arbitration, serious difficulties in production and operation, and the Borrower is involved in material lawsuits or arbitrations, or grave difficulties arise in its production operations, or deterioration happens in its deteriorating financial condition, the position.
9.15 The Borrower shall forthwith send not provide guarantee with the assets due to the loan under this Agreement to the third the Lender a written notice thereof before repaying all principal and shall made certain interest of the protective measures Lender or before getting the consent of creditor's rights accepted by the Lender.
9. Where the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to a third party with its principal properties which may influence its repayment capacity hereunder, the 9.16 The Borrower shall send notify the Lender a within five days with written notice thereof and shall obtain consent thereof from the Lender.
10. The Borrower and its investors shall notwhen changes occur in residence, without approval, withdraw their capital, transfer their assets, or assign their shares to evade their liabilities to the Lender.
11. Where there is any change to the company name, legal representative, address or the scope of business of the Borrower, the Borrower shall send a written notice thereof to the Lender significant changes occur in timeother high-level management personnel.
12. Where the assuror hereunder is under any of the following circumstances such as suspension of business, discontinuation of business, cancellation of registration, cancellation of business license, bankruptcy and poor operation, or the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgaged, the property pledged for the loan hereunder, or the value of the rights pledged decrease, the Borrower shall provide other warranty measures in time accepted by the Lender.
13. 9.17 The Borrower shall assume such expenses for lawyer's service, insurance, transportation, evaluation, registration, custody, appraisal and notarization fees relevant not sign agreements detrimental to the interests of the lender under this Contract with any third party.
9.18 If the Borrower is a group client, it shall timely report the Lender the related transaction , whose transaction amount accounts for more than 10% of its net assets, including (1) relationship with each related parties, (2) transacted items and the warrant hereunder.nature of the transaction, (3) transacted amount or corresponding proportion, (4) pricing policy (including the transaction with no amount or only nominal amount)
Appears in 2 contracts
Samples: RMB Credit Loan Agreement (GSP-2, Inc.), RMB Credit Loan Agreement (GSP-2, Inc.)
Rights and Obligations of the Borrower. 1. 4.1 The Borrower shall have the right to acquire obtain and use the loan as agreed hereinin accordance with this Agreement and the corresponding IOU.
2. The Borrower shall deal with the settlement and deposit affairs relevant to 4.2 Repay the loan hereunder through principal, interest, compound interest, penalty interest, legal costs, preservation costs, enforcement costs, attorney’s fees, travel expenses and other reasonable expenses in accordance with this Agreement and the account agreed corresponding ious, and the authorized Lender is irrevocably entitled to deduct such expenses in the accordance with Article 2 2.5 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. 4.3 The loan shall be used in accordance with the way as agreed herein, and shall not be illegally occupied purpose specified in this Agreement without usurping or misappropriatedmisappropriating the loan.
6. The Borrower shall provide true, integrate 4.4 Provide the Lender with true and valid complete financial statements or other related data relevant materials and information to the Lender on a monthly basis basis, and shall actively cooperate with the Lender in examining the inspection of its production operationsand operation, financing activities financial status, material inventory and its the use of the loan hereunder.
7. 4.5 Before taking the debt repayment under this Agreement is complete, the Borrower shall take such activities measures as contracting, leasing, joint-stock system reformtransformation, association, merger, split-upmerger, establishingdivision, joint venturesventure, capital reduction, asset assignmenttransfer, applying foreign investment, substantial increase in debt financing, application for suspension of business or for rectification, voluntary application for dissolution, voluntary application for bankruptcy and or other activities which are enough to cause changes to in the creditor's rights and liabilities herein ’s debt relationship that may cause this Agreement or which are enough to influence affect the realization of the Lender's creditor's rightsXxxxxx’s loan claims Shall notify the lender in writing 30 days prior to the implementation of the above actions, and at the same time fulfill the obligation to pay off the debts or pay off the debts in advance, and obtain the written consent of the lender； otherwise, the above actions shall not be taken.
4.6 The Borrower shall not carry out the foregoing activities unless it notifies notify the Lender in written form writing within 3 days after the occurrence of any other event other than the above which threatens its normal operations or has a material adverse impact on the performance of the repayment obligations hereunder, including but not limited to any of the circumstances set forth in Article 2.3 hereof, and implement the repayment measures.
4.7 If the Borrower provides a guarantee for the debts of others or sets a mortgage or pledge guarantee with its main property to a third party before the completion of the debts under this Agreement, which may affect its ability to repay the debts under this Agreement, it shall notify the Lender in writing in advance and concurrently makes certain obtain the written consent 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 written notice thereof and shall made certain of the protective measures of creditor's rights accepted by the Lender.
9. 4.8 The Borrower shall not withdraw or transfer funds, dispose at a low price, gift assets or transfer shares without authorization in order to evade debts to the lender or weaken its own solvency.
4.9 Where the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to a third party with changes its principal properties which may influence its repayment capacity hereunder, the Borrower shall send the Lender a written notice thereof and shall obtain consent thereof from the Lender.
10. The Borrower and its investors shall not, without approval, withdraw their capital, transfer their assets, or assign their shares to evade their liabilities to the Lender.
11. Where there is any change to the name, legal representative, address or legal address, business scope, correspondence address, contact telephone number, etc., it shall, within 5 days after the scope of business of the Borrowerchange, the Borrower shall send deliver a written notice thereof and relevant documents of change issued by the competent authorities of industry and commerce to the Lender in timeLender.Otherwise, all liabilities and consequences arising therefrom shall be borne by the Borrower.
12. Where 4.10 If the assuror hereunder is under any guarantor of the following circumstances such as suspension loan hereunder stops production, goes out of business, discontinuation of businesshas its registration cancelled, cancellation of registrationhas its business license revoked, cancellation of business licenseis bankrupt and suffers from operating loss, bankruptcy and poor operation, partially or completely loses its guarantee ability corresponding to the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgaged, the property pledged for the loan debt hereunder, or if the value of the rights pledged decreasecollateral, pledge or pledge right used as the loan guarantee hereunder decreases or there is a dispute over ownership, The Borrower shall provide other warranty security measures in time accepted approved by the LenderLender within 10 days after the occurrence of the above circumstances.
13. 4.11 The Borrower shall assume such be obliged to cooperate with the lender in loan reconciliation.
4.12 The Borrower shall, in accordance with the requirements of laws and regulations, bear the expenses for lawyer's serviceof lawyer services, insurance, transportation, evaluation, registration, custodystorage, appraisal appraisal, notarization, depository and notarization fees relevant to guarantee in connection with this Contract Agreement and the warrant guarantee hereunder.
4.13 The Borrower shall immediately sign and deliver the return receipt to the Lender or send the return receipt to the Lender within 3 days after signing for the receipt of the collection letter or collection document delivered to it by the Lender directly or by post.
4.14 The borrower shall strengthen environmental and social risk management. If the borrower is involved in major environmental and social risks, it shall submit environmental and social risk report；The Borrower represents and warrants that the internal management documents relating to environmental and social risks are in accordance with the requirements of laws and regulations and are effectively implemented,There are no major litigation cases involving environmental and social risks；The borrower undertakes to accept the lender’s supervision；If the borrower’s statements, warranties or commitments relating to environmental and social risk management have not been seriously fulfilled, or if the Borrower has been penalized by the relevant government authorities or strongly questioned by the public and/or the media for poor environmental and social risk management, The Lender shall have the right to cancel the credit granting commitment already made, suspend the disbursement of the loan until the borrower has taken remedial measures approved by the Lender, withdraw the loan already issued in advance, and exercise the relevant right of pledge in case the loan cannot be repaid；
Appears in 2 contracts
Samples: Online Working Capital Loan Master Agreement (HUHUTECH International Group Inc.), Online Working Capital Loan Master Agreement (HUHUTECH International Group Inc.)
Rights and Obligations of the Borrower. 1. The Borrower shall have the right It is entitled to acquire obtain and use the loan as agreed hereinpursuant to the stipulations of this Contract.
2. The Borrower shall deal with the It is entitled to handle settlement and deposit affairs relevant of transactions related to the loan hereunder through the bank account agreed stipulated in the Article 2 hereofof this Contract.
3. Where In the event that the loan hereunder is made in a foreign currencycurrency loan, the Borrower shall go through relevant procedures for approval and approval, registration and other legal procedures required by law in respect of the loan shall be obtained and completed in accordance with the relevant provisionsrules.
4. The Borrower It shall repay the principal and interest of the money borrowed at the time as agreedscheduled. Where If the Borrower needs to renew this Contractdefer repayment, it shall submit a written application thereof to the Lender within 15 days before the maturity due date of the loan, and an extension contract thereof shall be concluded with the Lender enter into a loan repayment deferral agreement upon the consent of the Lender's consent.
5. The It shall use the loan shall be used in accordance with the way as agreed hereinstipulated purposes in this Contract, and shall not be illegally occupied or misappropriatedembellish and misappropriate the loan.
6. The Borrower It shall provide true, integrate complete and valid financial statements or and other related data relevant materials and information to the Lender on a monthly basis basis, and shall actively cooperate proactively with the Lender in examining its Lender’s inspection of the Borrower’s production operationsand operation, financing financial activities and its use of the loan hereunderunder this Contract.
7. Before taking such activities as In the event that the Borrower engages in contracting, leasing, joint-stock system shareholding reform, mergerjoint operation, split-upmerging, establishingacquisition, division, joint venturesventure, asset assignmenttransfer, applying application for business suspension of business or rectificationfor ratification, voluntary application for dissolution, voluntary filing a bankruptcy request as well as other acts which amount to changes in the credit and other activities which are enough to cause changes to the creditor's rights and liabilities herein debt relationship under this contract or which are enough to influence affect the realization of debts of the Lender's creditor's rights, it must give prior written notice to the Borrower Lender and obtain the consent of the Lender. Meanwhile, it shall carry out debt repayment responsibilities or discharge the liabilities in advance, otherwise it shall not carry out conduct 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 advanceabove acts.
8. Save as provided in In the event that the Borrower experiences any situations other than the above item 7 of this Article, where the Borrower is under any such other circumstances acts which will exert great detrimental effects impose material adverse impacts on its fulfillment obligations performance of repayment hereunder obligations under this Contract, such as stoppage of production, suspension of business, discontinuation of business, cancellation of registration, cancellation of business licenselicense being revoked, or where its legal representative or major principals are involved key person-in-charge engaging in illegal activitiesacts, the Borrower is involved involvement in material lawsuits litigation or arbitrationsarbitration, or grave serious difficulties arise in its of production operationsand operation, or deterioration happens in its of financial conditionconditions, the Borrower it shall forthwith send notify the Lender a written notice thereof in writing immediately, and shall made certain of the protective carry out security measures of creditor's rights accepted contract claim endorsed by the Lender.
9. Where In the event that the Borrower provides a warranty for guarantee to other person's liabilities parties or provides a mortgage security or pledge to a third party with its principal major properties and the results of which may influence affect its repayment capacity hereunderability under this Contract, the Borrower shall send it must notify the Lender a written notice thereof in writing in advance and shall obtain consent thereof from the Lender’s consent.
10. The Borrower and its investors shall not, without approval, withdraw their capitalnot re-channel funds, transfer their assets, assets or assign their make unauthorized transfer of shares to evade their the liabilities due to the Lender.
11. Where In the event that there is any change to the are matters such as changes in name, legal representative, address or the domicile and business scope of business of the Borrower, the Borrower it shall send a give written notice thereof to the Lender in timepromptly.
12. Where In the assuror hereunder is under any event that the guarantor of the following circumstances this Contract experiences events such as stoppage of production, suspension of business, discontinuation of business, cancellation of registration, cancellation of business licenselicense being revoked, bankruptcy and poor operationoperating loss, partial or total loss of guarantee ability, or the assuror loses part or all its corresponding warranty capacity relating to this Contractthere is a reduction in value of security, or the property mortgaged, the property pledged assets and pledging rights secured for the loan hereunder, or the value of the rights pledged decreaseunder this Contract, the Borrower shall promptly provide other warranty guarantee measures in time accepted that are endorsed by the Lender.
13. The Borrower shall assume be liable for the expenses related to this Contract or the guarantee under this Contract, such expenses for lawyer's serviceas legal fees, insurance, transportation, evaluationassessment, registration, custody, appraisal and notarization fees relevant to this Contract and the warrant hereunderappraisal, certification etc.
Appears in 2 contracts
Samples: Loan Agreement (Neophotonics Corp), Loan Agreement (Neophotonics Corp)
Rights and Obligations of the Borrower. 1. The Borrower shall have the right be entitled to acquire procure and use the loan as agreed hereinaccording to the provisions hereof.
2. The Borrower shall deal with Conduct the settlement for intercourses and deposit affairs relevant deposits relating to the loan hereunder through via the account agreed provided in the Article 2 hereof.
3. Where In case the loan hereunder is made in foreign currency, the Borrower shall go through relevant procedures for approval and complete the approval, registration and other statutory procedures required by law in accordance with relating the loan hereunder according to relevant provisionsregulations.
4. The Borrower shall repay the principal and interest of the money borrowed at the time as agreedloan on schedule. Where In case the Borrower needs to renew this Contractextension, it shall submit a written application thereof to the Lender 15 fifteen (15) days before prior to the maturity date of the loan. After being approved by the Lender, and the Borrower shall enter into an extension contract thereof shall be concluded agreement with the Lender upon the Lender's consent.
5. The Borrower shall use the loan shall be used in for the way purpose as agreed herein, and shall not be illegally occupied or misappropriateddivert and/or appropriate the loan.
6. The Borrower shall provide truethe Lender with genuine, integrate complete and valid financial statements or other related data relating materials and information to the Lender on a monthly basis basis, and shall actively cooperate with the inspection carried out by the Lender in examining on its production operationsand operation, financing financial activities and its use usage condition of the loan hereunder.
7. Before taking such activities as In case of carrying out contracting, leasing, jointshare-stock system reformholding reorganization, affiliation, combination, merger, splitspin-up, establishingoff, joint venturesventure, asset assignmentassets transfer, applying application for suspension of business or for rectification, voluntary application for dissolution, voluntary application for bankruptcy and other activities actions which are enough sufficient to cause changes to the change of creditor's ’s rights and liabilities herein debts hereunder or which are enough to influence impact the realization of the creditor’s rights of the Lender's creditor's rights, the Borrower shall inform the Lender in written form in advance; and after being approved by the Lender, shall make sure the debt repayment liabilities or make prepayment for the debts, otherwise the Borrower shall not carry out the foregoing activities unless it notifies aforesaid actions.
8. In case any other circumstance except for the aforesaid ones occurs to the Borrower which may have material adverse effect on its performance of repayment obligation hereunder, such as suspension of production, out of business, cancellation registration, revocation of business license, the legal representative’s or main responsible person’s involvement in illegal activities, involvement in major lawsuits or arbitrations, production and operation suffering from serious difficulty and deterioration of financial conditions, etc., the Borrower shall immediately notify the Lender in written form and carry out preservation measures for creditor’s rights which are accepted by the Lender.
9. In the event that the Borrower provides guarantee for other party’s debt or create mortgage or pledge on its material assets for the benefit of the third party, which may impact its ability to repay the loan hereunder, the Borrower shall notify the Lender in written form in advance and concurrently makes certain procure the approval 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 written notice thereof and shall made certain of the protective measures of creditor's rights accepted by the Lender.
9. Where the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to a third party with its principal properties which may influence its repayment capacity hereunder, the Borrower shall send the Lender a written notice thereof and shall obtain consent thereof from the Lender.
10. The Neither the Borrower and nor its investors investor shall notillegally withdraw the fund, without approval, withdraw their capital, divert the assets or arbitrarily transfer their assets, or assign their its shares to evade their liabilities for the purpose of evading its debt owed to the Lender.
11. Where there is any change to the In case of alterations of name, legal representative, address or the registered address, business scope of business of the Borrowerand other matters, the Borrower shall send a written notice thereof to notify the Lender in timewritten form.
12. Where In case the assuror guarantor for the loan hereunder is under any of the following circumstances such as suffers from suspension of businessproduction, discontinuation out of business, cancellation of registration, cancellation revocation of business license, bankruptcy or operational losses, etc., and poor operation, has wholly or the assuror loses part or all partly lost its corresponding warranty capacity security ability relating to this Contract, or the property mortgaged, the property pledged for the loan hereunder, or in case of derogation of the value of mortgaged assets, pledged assets or pledged rights as the rights pledged decreasesecurity for the loan hereunder, the Borrower shall provide other warranty security measures in time accepted by the LenderLender in a timely manner.
13. The Borrower shall assume such expenses for lawyer's service, bear the attorney fees and the fees in connection with insurance, transportation, evaluationvaluation, registration, custodystorage, appraisal and notarization fees relevant notarization, etc. which are related to this Contract and or the warrant hereundersecurity under this Contract.
Appears in 2 contracts
Samples: Loan Contract (China Hydroelectric Corp), Loan Contract (China Hydroelectric Corp)
Rights and Obligations of the Borrower. 1. The Borrower shall have has the right to acquire gain and use the loan as agreed hereinin accordance with the provisions set forth in this Agreement.
2. The Borrower shall deal with transact the settlement and deposit affairs relevant to the related with loan hereunder through the account agreed stipulated in the Article 2 hereof.
3. Where If the loan hereunder is made in foreign currencyexchange loan, the Borrower shall go through relevant procedures for approval and obtain related approval, registration and other legal procedures required by law related to this loan in accordance with relevant provisionsthe applicable laws and regulations.
4. The Borrower shall repay the principal and interest of on schedule. If the money borrowed at the time as agreed. Where payment needs to be extended, the Borrower needs to renew this Contract, it shall submit a written application thereof to the Lender within 15 days before prior to the maturity date date. After obtaining the consent of the loanLender, and an loan extension contract thereof Agreement shall be concluded with the Lender upon the Lender's consentconcluded.
5. The Borrower shall use the loan shall be used in accordance with the way as agreed provisions set forth herein, and shall not be illegally occupied misappropriate or misappropriateddivert the loan.
6. The Borrower shall provide offer true, integrate and valid complete, effective financial statements statement or other related data and relevant materials, information to the Lender on a monthly basis monthly, and shall actively cooperate coordinate with the Lender in examining to check its production operationsproduction, financing activities management, financial activity and its use of the loan hereunder.
7. Before taking such activities as contractingAny Agreement, leasinglease, joint-remolding with the stock system reformsystem, mergeraffiliation, combination, merge, split-up, establishing, joint venturesventuring, asset assignmentproperty transfer, applying application for suspension of suspending business or for rectification, voluntary dissolutiondissolving, voluntary bankruptcy bankrupting and other activities actions implemented by the Borrower, which are enough is sufficient to cause changes to of the creditor's rights and liabilities herein debtor-creditor relationship hereunder or which are enough to impose influence on the realization of the Lender's creditor's rights, the Borrower shall not carry out the foregoing activities unless it notifies give a written notice to the Lender in written form in advance and concurrently makes certain advance. After obtaining the consent of its performance the Lender, the Borrower shall be obligated to clear off the debts or prepay the debts; otherwise, the implementation of debt or fulfills its repayment obligations in advancethe above actions is not allowed.
8. Save as provided in In addition to the above item 7 of this Articlementioned actions, where any other affairs which might have a material adverse effect on the Borrower is under any such other circumstances which will exert great detrimental effects on its fulfillment obligations of repayment hereunder happened to the Borrower, such as suspension of businessoff production, discontinuation out of business, cancellation of business registration, cancellation revocation of business license, or where its engaging in illegal activities by the legal representative or major principals are involved people in illegal activitiescharge, the Borrower is involved in material lawsuits litigation or arbitrationsarbitration, or grave encountering serious business difficulties arise in its production operations, or deterioration happens in its and deteriorated financial conditionsituation, the Borrower shall forthwith send promptly notice the Lender a written notice thereof of such affairs in written, and shall made certain of implement the protective measures of for creditor's rights ’s right preservation accepted by the Lender.
9. Where the In case that Borrower provides a warranty for other person's liabilities intends to provide guaranty or provides a set up mortgage or pledge to on its principle property for a third party with its principal properties which may influence party, and such will impose an adverse effect on its repayment capacity for the loan hereunder, the Borrower shall send the Lender give a written notice thereof to the Lender in advance and shall obtain consent thereof from the Lender.
10. The Borrower and its investors investor shall not, without approval, not withdraw their capitalits capital illegally, transfer their assets, assets or assign their transfer shares to evade their liabilities without consent from the Lender for purpose of evading debt obligations to the LenderCreditor.
11. Where there is In case of any change to changes in the name, legal representative, address or the address, business scope of business and other affairs of the Borrower, the Borrower shall send give a written notice thereof to the Lender in timepromptly.
12. Where the assuror hereunder is under any of the following circumstances such as suspension of businessIf off production, discontinuation out of business, cancellation of registration, cancellation revocation of business license, bankruptcy and poor operation, or operation loss happened to the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgaged, the property pledged guarantor for the loan hereunder, and causes the guarantor to lose the guaranty ability partly or the wholly, or value of the mortgage, pledge, and pledge rights pledged decreasefor benefit of the loan hereunder is detracted, the Borrower shall promptly provide other warranty security measures in time accepted acceptable by the Lender.
13. The Borrower shall assume such expenses the fees charged for lawyer's lawyer service, insurance, transportationtransformation, evaluation, registration, custodystorage, appraisal identification, notarization and notarization other fees relevant to related with this Contract Agreement and the warrant security hereunder.
Appears in 1 contract
Samples: Loan Agreement (Birch Branch Inc)
Rights and Obligations of the Borrower. 1. 11.1 The Borrower is entitled to request the Lender to disburse the Loan in accordance with the proposed schedule.
11.2 The Borrower is responsible for the full and timely performance of its obligations under this Agreement.
11.3 The Borrower is responsible for providing and presenting the original document to prove the owner /source of the Collateral if required by the Lender and / or the competent State Authorities.
11.4 The Borrower is responsible to inform the Lender on the rights of the third party to the Collateral, if any.
11.5 The Borrower undertakes that duration of the Loan Term, the Borrower will:
(a) Transfer/ pass documents related to the Collateral to the Lender, unless otherwise agreed or prescribed by law.
(b) take care of and preserve the Collateral.
(c) if the Collateral is in danger of losing its value or depreciating in value due to its exploitation, to take necessary remedial measures, including ceasing the exploitation of the Collateral.
(d) when the Collateral is damaged, within a reasonable period, the Borrower will repair or substitute another asset with equivalent value, unless otherwise agreed.
(e) provide information about the actual condition of the Collateral to the Lender.
(f) deliver the Collateral to the Lender, if
(i) the Borrower cannot repay the Loan, its interest and/or others on time; or
(ii) the Borrower violates provisions/ obligation as agreed or prescribed by law.
(g) notify the Lender on any third person’s rights to the Collateral (if any). In the case of failure to provide such notice, the Lender (as the mortgagee) shall have the right to acquire cancel the contract of mortgage of assets and use demand compensation for damage or the loan as agreed hereinright to maintain the contract and agree on the rights of the third person with respect to the Collateral.
2(h) not sell, not exchange, not give/ present/ donate, not lease, or not lend to the Collateral. To avoid misunderstanding, during the Loan Term, the Collateral will be managed and kept by the Borrower. .
11.6 The Borrower shall deal with the settlement undertakes unconditionally and deposit affairs relevant irrevocably to liable and indemnify to the loan hereunder through Lender for all costs of lawsuits, damages, losses and other expenses in related or arising from transactions between the account agreed in Parties under this Agreement, including but not limited to the Article 2 hereofLoan and the Collateral.
3. Where the loan hereunder is made in foreign currency11.7 By this Agreement, the Borrower shall go through commits and to be responsible before the laws and the Lender for the following undertakings:
(a) To comply with all applicable laws and regulations relating to the performance of the Borrower's obligations under the terms of this Agreement and the relevant procedures for approval and registration and other procedures required by law in accordance with relevant provisionsagreements.
4. The Borrower shall repay the principal and interest of the money borrowed at the time as agreed. Where (b) Any information provided by 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, under this Agreement is true and an extension contract thereof shall be concluded with the Lender upon the Lender's consentcorrect.
5. (c) The loan shall Borrower will be used in responsible for its any request, notice or certification made by the way as agreed hereinphone and agreeing that such request, notice or confirmation will make arisen and shall not be illegally occupied or misappropriatedset up the legal liability and to take effect binding to the Borrower under this Agreement.
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 written notice thereof and shall made certain of the protective measures of creditor's rights accepted by the Lender.
9. Where the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to a third party with its principal properties which may influence its repayment capacity hereunder, the Borrower shall send the Lender a written notice thereof and shall obtain consent thereof from the Lender.
10. The Borrower and its investors shall not, without approval, withdraw their capital, transfer their assets, or assign their shares to evade their liabilities to the Lender.
11. Where (d) If there is any change in any information of the Borrower stated in this Agreement (including but not limited to relevant information such as phone number, email, residential address, and any other information likely to affect the name, legal representative, address or the scope of business repayment capacity of the Borrower), the Borrower hereby undertakes and is responsible to notice with the Borrower at once of change.
(e) The Collateral is owned legally by the Borrower, at present, there is not any dispute, or dealt with by any competent individual, organization or state authorities in accordance with law. Currently, the Collateral has legal origins and not pledged mortgaged or guaranteed anywhere else to any third party.
(f) This Agreement is signed by the Parties voluntary, not deceived or coerced.
11.8 The Borrower expresses consent, agrees and acknowledges that the Lender may conduct verification of the Borrower's data in any form even after execution of this Agreement and, based on results of such verification and subject to the Lender's absolute and sole discretion, the Lender may prior to disbursement of the Loan Amount do the following always subject to applicable local laws: (i) reject the Loan application; (ii) terminate this Agreement; (iii) reduce the Loan amount for disbursement.
11.9 The Loan disbursement to the Borrower’s account shall send a written notice thereof be deemed to be the Loan amount acceptance if the Borrower fails to refund the Loan Amount to the Lender in time.
12. Where the assuror hereunder is under any immediately after receipt of the following circumstances such as suspension of business, discontinuation of business, cancellation of registration, cancellation of business license, bankruptcy and poor operation, or the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgaged, the property pledged for the loan hereunder, or the value of the rights pledged decrease, the Borrower shall provide other warranty measures in time accepted Loan Amount by the Lender.
13Borrower. The Borrower hereby agrees to all the terms and conditions of this Agreement. Such acceptance of the Loan Amount shall assume such expenses for lawyer's service, insurance, transportation, evaluation, registration, custody, appraisal be tantamount to the consent of the Borrower to be bound by the terms and notarization fees relevant to conditions of this Contract and the warrant hereunderAgreement.
Appears in 1 contract
Samples: Loan Agreement
Rights and Obligations of the Borrower. 1. Article XXVIII The Borrower shall have the right to acquire request the Lender to issue loans to the Borrower according to the terms and conditions agreed herein. However, if the Lender is unable to issue loans under the Contract due to changes in national macro-control policies, regulatory authorities’ requirements for the Lender to control the credit scale or investment direction, and other reasons other than those of the Lender, the Lender has the right to stop issuing loans or terminate the Contract.
Article XXIX The Borrower shall have the right to use the loan as Loan for the purposes agreed herein.
2. Article XXX The Borrower shall deal with have the settlement right to require the Lender to keep the relevant financial information provided by the Borrower and deposit affairs relevant to the loan hereunder through business secrets in production and operation confidential, unless otherwise provided by laws, regulations and rules, required by the account competent authorities, or agreed in the Article 2 hereofby both parties.
3. Where the loan hereunder is made in foreign currency, the Article XXXI The Borrower shall go through relevant procedures for approval and registration and other procedures required by law make withdrawals in accordance with relevant provisions.
4. The Borrower shall repay this Contract and pay the principal and interest of the money borrowed Loan on time and in full.
Article XXXII The Borrower shall provide various financial and accounting information, production and operation status information and other materials in accordance with the requirements of the Lender, including but not limited to providing the Lender with the balance sheet at the time end of the previous quarter and the income statement as agreed. Where of the Borrower needs to renew this Contract, it end of the previous quarter (public institutions shall submit a written application thereof to provide the Lender 15 statement of income and expenditure) within ten working days before the maturity date first month of each quarter. At the end of the loanyear, the Borrower shall timely provide the cash flow statement of the year, and an extension contract thereof shall be concluded with ensure that the Lender upon the Lender's consent.
5. The loan shall be used in the way as agreed hereininformation provided is legal, true, complete, accurate and effective, and shall not be illegally occupied provide false materials or misappropriatedconceal important business and financial facts.
6. Article XXXIII 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 notify the Lender in examining writing within 10 working days after the occurrence of any major adverse event affecting its production operationssolvency, financing activities and its use guarantee ability of the loan hereunderGuarantor,or any other circumstance endangering the Lender’s creditor’s rights, or any change in the name, legal representative (person in charge), domicile, business scope, registered capital or articles of association of the company (enterprise) and other business registration matters, and attach relevant materials after the change.
7. Before taking such activities as contractingArticle XXXIV The Borrower shall use the loan according to the purposes agreed in the Contract, leasingshall not occupy, jointmisappropriate the loan or use bank loans to engage in unlawful or illegal transactions; shall not use the loan for fixed-stock system reformasset investment , merger, split-up, establishing, joint ventures, asset assignment, applying for suspension of business or rectification, voluntary dissolution, voluntary bankruptcy equity investment and other investments, shall not use the loan for the fields and purposes prohibited by the state from production and operation, and shall not replace the liabilities arising from the Borrower’s investment in fixed-asset investment , equity investment and other investments, shall cooperate with and accept the Lender’s inspection and supervision for production, operation and financial activities which are enough to cause changes to of the creditor's rights Borrower as well as the use and liabilities herein or which are enough to influence payment of loans under the realization Contract, and shall cooperate with and accept the relevant requirements of the Lender's ’s post-loan management; shall not withdraw funds, transfer assets or use related party transactions to evade debts to the Lender; shall not use false contracts with related parties to discount or pledge bank funds or credit with bills receivable, accounts receivable and other creditor's rights’s rights without actual trade background; and the Borrower shall pay the loan funds as agreed in the Contract, and shall not evade the entrusted payment of the Lender by breaking up the whole into parts. Before paying off the loan principal and interest to the Lender, the Borrower shall not carry out use the foregoing assets formed by the loan under the Contract to provide guarantee to the third party without the consent of the Lender.
Article XXXV The Borrower shall abide by the relevant national regulations on environmental protection in case that the Borrower uses the loan under the Contract for production and manufacturing.
Article XXXVI The Borrower pledges to abide by China’s anti-money laundering related laws and regulations and not to participate in illegal and criminal activities unless it notifies such as suspected money laundering, terrorist financing; to actively cooperate with the Lender’s customer identification and due diligence, to provide truthful, accurate, complete and effective customer information, and to comply with the Lender’s anti-money laundering and anti-terrorist financing related management regulations. In case the Lender requests the Borrower’s assistance in written form in advance and concurrently makes certain of its performance of debt compliance with anti-money laundering 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 conditionregulatory requirements, the Borrower shall forthwith send the Lender a cooperate and provide corresponding written notice thereof and shall made certain of the protective measures of creditor's rights accepted by the Lendermaterials.
9. Where Article XXXVII If the Borrower provides is a warranty for other person's liabilities or provides a mortgage or pledge to a third party with its principal properties which may influence its repayment capacity hereundergroup customer, the Borrower shall send promptly report to the Lender a written notice thereof and shall obtain consent thereof from the Lender.
any related transactions of more than 10. The Borrower and its investors shall not, without approval, withdraw their capital, transfer their assets, or assign their shares to evade their liabilities to the Lender.
11. Where there is any change to the name, legal representative, address or the scope of business % of the Borrower’s net assets, including association relationship among transaction parties, transaction item and nature, transaction amount or corresponding ratio and pricing policy (including transactions involving no amount or only nominal amount). Group customer means enterprises and institutions with the Borrower shall send following characteristics:
1. Directly or indirectly controlling or being controlled by legal person of other enterprises or institutions in equity or business.
2. Jointly controlled by legal person of a written notice thereof third party enterprise or institution.
3. Under jointly direct control or indirect control of the main individual investors, key managers or close family members (including lineal relatives within three generations and collateral relatives within two generations).
4. Have other related relationships and assets and profits may not be transferred according to the Lender in timefair price principle, and shall be regarded as credit management for group customers.
12. Where the assuror hereunder is under any of the following circumstances such as suspension of business, discontinuation of business, cancellation of registration, cancellation of business license, bankruptcy and poor operation, or the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgaged, the property pledged for the loan hereunder, or the value of the rights pledged decrease, the Borrower shall provide other warranty measures in time accepted by the Lender.
13. Article XXXVIII The Borrower shall assume obtain the written consent of the Lender before carrying out major issues such expenses for lawyer's serviceas merger, insuranceseparation, transportationequity transfer, evaluationforeign investment and substantial increase in debt financing. However, registration, custody, appraisal and notarization fees relevant the written consent of the Lender shall not affect the Lender’s right to this use the remedies agreed in the Contract and when the warrant hereunderXxxxxx believes that the above-mentioned acts may endanger the safety of the Lender’s creditor’s rights in the future.
Appears in 1 contract
Rights and Obligations of the Borrower. 1. 4-1 The Borrower shall have the right to acquire obtain and use the loan as agreed hereinLoan according to the Contract.
2. 4-2 The Borrower shall deal with the go through procedures for settlement and deposit affairs relevant relating to the loan Loan hereunder through the account agreed accounts as mentioned in the Article 2 hereof.
3. Where the 4-3 In case of foreign exchange loan hereunder is made in foreign currencyhereunder, the Borrower shall go through relevant procedures for approval and registration all approvals, registrations and other legal procedures required by law in accordance with relevant relating to the Loan according to pertinent provisions.
4. -4 The Borrower shall repay the principal and interest interests on schedule. In case of the money borrowed at the time as agreed. Where extension required, the Borrower needs to renew this Contract, it shall submit a written application thereof to the Lender 15 days before in advance of the maturity date date; an extension agreement may be made with approval of the loan, and an extension contract thereof shall be concluded with the Lender upon the Lender's consent.
5. 4-5 The loan Borrower shall be used in use the way as agreed Loan subject to the purpose stipulated herein, and shall may not be illegally occupied seize or misappropriatedmisappropriate the Loan.
6. 4-6 The Borrower shall provide true, integrate complete and valid financial statements or other related data relevant materials and information to the Lender on a monthly basis and basis. The Borrower shall cooperate actively cooperate with the Lender in examining inspecting its production operationsproduction, financing activities operation, finance and its use of the loan Loan hereunder.
7. Before taking such activities as contracting4-7 The Borrower shall send a prior notice to the Lender in writing if the Borrower conducts contract, leasinglease, joint-joint stock system reformreconstruction, joint management, merger, split-upacquirement, establishingdivision, joint venturesventure, asset assignmenttransfer, applying application for suspension of business or rectification, voluntary dissolution, voluntary bankruptcy stoppage and rectification and other activities behavior which are enough is sufficient to cause changes to change the relationship of creditor's rights and liabilities herein debt hereunder or which are enough to influence the affect realization of the Lender's ’s creditor's rights’s right. With the consent of the Lender, the Borrower shall ascertain the repayment liability or repay the debt hereunder in advance; otherwise, the Borrower may not carry out the foregoing activities unless it notifies conduct any behaviors hereinbefore.
4-8 The Borrower shall notify the Lender in written form writing immediately and carry through the preservation measures to creditor’s rights which are accepted by the Lender, if, except for those as mentioned 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 Articleprevious clause, where the Borrower is under has any such other circumstances which will exert great detrimental effects have material adverse affections on its fulfillment obligations of repayment hereunder obligation hereunder, such as suspension of businessproduction stoppage, discontinuation of businessbusiness closure, cancellation of registrationregistration cancellation, cancellation revocation of business license, or where its violation of laws or serious litigation or arbitration involved by the legal representative or major principals are involved main persons in illegal activities, the Borrower is involved in material lawsuits or arbitrationscharge, or grave severe difficulties arise in its production operationsand operation, or deterioration happens in its financial conditionof finance, the Borrower shall forthwith send the Lender a written notice thereof and shall made certain of the protective measures of creditor's rights accepted by the Lenderetc.
9. Where the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to a third party with its principal properties which may influence its repayment capacity hereunder, the Borrower shall send the Lender a written notice thereof and shall obtain consent thereof from the Lender.
10. 4-9 The Borrower and its investors shall not, without approval, withdraw their capital, transfer their assets, or assign their shares to evade their liabilities to the Lender.
11. Where there is any change to the name, legal representative, address or the scope of business of the Borrower, the Borrower shall send a written notice thereof to the Lender in timeadvance and obtain the consent of the Lender if the Borrower provides guarantee in favor of other’s debt or mortgages or pawns its main properties to a third party, which may affect its capability of repayment of the Loan hereunder.
12. Where 4-10 The Borrower, as well as its investors, may not withdraw funds or hide properties to escape repayment debts to the assuror hereunder is under any Lender.
4-11 The Borrower shall in time notify the Lender in writing of changed name, legal representative, domicile, business scope and others of the following circumstances such Borrower, if any.
4-12 The Borrower shall provide in time other guarantees accepted by the Lender if the guarantor as suspension of to the Loan hereunder stops production, closes business, discontinuation of business, cancellation of cancels registration, cancellation of is revoked business license, bankruptcy is insolvent and poor operationis in deficit, or loses partly or wholly the assuror loses part or all its corresponding warranty capacity guarantee capability relating to this Contract, or the property mortgaged, the property pledged for the loan Loan hereunder, or the value of guaranty, pawn or pledge as to the rights pledged decrease, the Borrower shall provide other warranty measures in time accepted by the LenderLoan hereunder reduces.
13. 4-13 The Borrower shall assume such be responsible for costs and expenses for lawyer's service, insurance, transportation, evaluation, registration, custody, appraisal and notarization fees relevant relating to this the Contract and the warrant guarantee hereunder, such as attorney fee, insurance premium, freight, evaluation fee, registration cost, storage fee, appraisal fee and notarization fee.
Appears in 1 contract
Rights and Obligations of the Borrower. 1. 9.1 The Borrower shall have has the right to acquire and use learn about 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 credit policy 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 written notice thereof and shall made certain of the protective measures of creditor's rights accepted by the Lender.
9. Where the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to a third party with its principal properties which may influence its repayment capacity hereunder, the Borrower shall send the Lender a written notice thereof and shall obtain consent thereof rate policy from the Lender.
10. 9.2 The Borrower has the right to draw and use the loan according to the term and purpose agreed by the Contract.
9.3 The Borrower has the right to apply for extending the period to the Lender if it meets the Lender’s regulation.
9.4 The Borrower has the right to require the Lender to keep the material and information related to debt, finance, production and operation provided by it confidential, unless otherwise stipulated by laws and regulations or agreed by the Contract.
9.5 The Borrower shall ensure that the material provided during loan reviewing shall be true, accurate, complete and valid.
9.6 The Borrower shall periodically provide the true, complete, legal and valid documents, materials and information like the financial accounting statements to the Lender according to the Lender’s requirements, and accept and coordinate with the Lender’s checking and inspection on its investors production & operation, project construction, material inventory, financial situation and loan usage situation.
9.7 The Borrower shall notsupport and coordinate with the Lender’s participation in budget estimate, without approvalbudget, withdraw their capitalfinal settlement review, transfer their assetsbid-inviting and completion acceptance work of the project related to the loan.
9.8 The Borrower shall pay the principal and interest timely according to agreements in the Contract.
9.9 Within the valid term of the Contract, if the Borrower has any change on name, legal representative (principal), domicile, mailing address, contact number, business scope, relationship of administrative subordination, Articles of Association and internal structure, it shall notify the Lender in written within 15 days since the date of change.
9.10 Within the valid term of the Contract, if the Borrower provides guaranty to the debts of the other person or assign their shares makes mortgage and pledge to evade their liabilities to the third person based on its main properties, it shall notify the Lender in written 30 days in advance and obtains the written permission of the Lender.
11. Where there is 9.11 If the Borrower has any change material related transactions with its controlling shareholder and other related companies (including but not limit to the namematerial related purchase and sales contract, legal representativelease, address raw material supply and money flow), or its related party relationship has any change, or the scope operation or financial situation of business of the Borrowerits controlling shareholder and other related companies has serious crisis, the Borrower shall send a written notice thereof to notify the Lender in timewritten within 3 days after the date of occurrence.
12. Where 9.12 Within the assuror hereunder is under any valid term of the following circumstances such as suspension Contract, if the Borrower has contracting, lease, shareholding reform, joint operation, separation, merge (acquisition), joint capital (cooperation), capital reduction, ownership change, asset transfer or disposal, major external investment or other behaviors influencing the realization of businessthe creditor's rights of the Lender, discontinuation of businessit shall notify the Lender in written 30 days in advance and perform the debts paying responsibility under the Contract agreed by the Lender in written, cancellation of registrationor provide other legal and valid guaranty approved by the Lender in written; otherwise, cancellation of business licenseit shall not have the above behavior before paying off all debts under the Contract.
9.13 If the Borrower has severe difficulties in production and operation, bankruptcy deteriorative financial situation, involves in material economic disputes or any other lawsuit, arbitration or criminal and poor operationadministrative penalty having material adverse consequences on its operation or property status, or the assuror loses major part or all of its corresponding warranty capacity relating to this Contractproperties are occupied by other creditors, or took over by the property mortgageddesignated trustee, receiver or the property pledged for the loan hereundersimilar person, or its properties are seized or frozen, which may cause serious loss on the value of the rights pledged decreaseLender, the Borrower shall provide notify the Lender in written within 3 days after the date of occurrence and take the protective measures that ensures repayment of loan principal and interest and all other warranty measures in time accepted by expenses under the Contract on a timely basis according to the requirements of the Lender.
13. 9.14 Within the valid term of the Contract, if the Borrower stops production, closes business, suspends business to bring up to standard, cancels registration, is revoked the business license and cancelled, files or is filed for bankruptcy or dissolution, the Borrower shall notify the Lender in written within 3 days after the date of occurrence and ensure to repay the principle and interest of the loan according to the written requirements of the Lender, or provide the protective measures of the creditor’s rights approved by the Lender in written.
9.15 If the guaranty is adopted by the loan under the Contract and the guaranty has change having adverse effect on the creditor’s rights of the Lender, the Borrower shall additionally provide other legal and valid guaranty approved by the Lender in written according to the requirements of the Lender.
9.16 The Borrower shall assume such expenses for lawyer's of lawyer service, insurance, transportation, evaluationappraisal, registration, custodykeeping, appraisal verification and notarization fees relevant related to this the Contract and the warrant hereunderguaranty under the Contract.
Appears in 1 contract
Samples: Loan Contract of Fixed Assets (Global Pharm Holdings Group, Inc.)
Rights and Obligations of the Borrower. 1. 4.1 The Borrower shall have the right to acquire obtain and use the loan as agreed hereinin accordance with this Agreement and the corresponding IOU.
2. The Borrower shall deal with the settlement and deposit affairs relevant to 4.2 Repay the loan hereunder through principal, interest, compound interest, penalty interest, legal costs, preservation costs, enforcement costs, attorney’s fees, travel expenses and other reasonable expenses in accordance with this Agreement and the account agreed corresponding ious, and the authorized Lender is irrevocably entitled to deduct such expenses in the accordance with Article 2 2.5 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. 4.3 The loan shall be used in accordance with the way as agreed herein, and shall not be illegally occupied purpose specified in this Agreement without usurping or misappropriatedmisappropriating the loan.
6. The Borrower shall provide true, integrate 4.4 Provide the Lender with true and valid complete financial statements or other related data relevant materials and information to the Lender on a monthly basis basis, and shall actively cooperate with the Lender in examining the inspection of its production operationsand operation, financing activities financial status, material inventory and its the use of the loan hereunder.
7. 4.5 Before taking the debt repayment under this Agreement is complete, the Borrower shall take such activities measures as contracting, leasing, joint-stock system reformtransformation, association, merger, split-upmerger, establishingdivision, joint venturesventure, capital reduction, asset assignmenttransfer, applying foreign investment, substantial increase in debt financing, application for suspension of business or for rectification, voluntary application for dissolution, voluntary application for bankruptcy and or other activities which are enough to cause changes to in the creditor's rights and liabilities herein ’s debt relationship that may cause this Agreement or which are enough to influence affect the realization of the Lender's creditor's rightsXxxxxx’s loan claims Shall notify the lender in writing 30 days prior to the implementation of the above actions, and at the same time fulfill the obligation to pay off the debts or pay off the debts in advance, and obtain the written consent of the lender； otherwise, the above actions shall not be taken.
4.6 The Borrower shall not carry out the foregoing activities unless it notifies notify the Lender in written form writing within 3 days after the occurrence of any other event other than the above which threatens its normal operations or has a material adverse impact on the performance of the repayment obligations hereunder, including but not limited to any of the circumstances set forth in Article 2.3 hereof, and implement the repayment measures.
4.7 If the Borrower provides a guarantee for the debts of others or sets a mortgage or pledge guarantee with its main property to a third party before the completion of the debts under this Agreement, which may affect its ability to repay the debts under this Agreement, it shall notify the Lender in writing in advance and concurrently makes certain obtain the written consent 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 written notice thereof and shall made certain of the protective measures of creditor's rights accepted by the Lender.
9. 4.8 The Borrower shall not withdraw or transfer funds, dispose at a low price, gift assets or transfer shares without authorization in order to evade debts to the lender or weaken its own solvency.
4.9 Where the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to a third party with changes its principal properties which may influence its repayment capacity hereunder, the Borrower shall send the Lender a written notice thereof and shall obtain consent thereof from the Lender.
10. The Borrower and its investors shall not, without approval, withdraw their capital, transfer their assets, or assign their shares to evade their liabilities to the Lender.
11. Where there is any change to the name, legal representative, address or legal address, business scope, correspondence address, contact telephone number, etc., it shall, within 5 days after the scope of business of the Borrowerchange, the Borrower shall send deliver a written notice thereof and relevant documents of change issued by the competent authorities of industry and commerce to the Lender in timeLender.Otherwise, all liabilities and consequences arising therefrom shall be borne by the Borrower.
12. Where 4.10 If the assuror hereunder is under any guarantor of the following circumstances such as suspension loan hereunder stops production, goes out of business, discontinuation of businesshas its registration cancelled, cancellation of registrationhas its business license revoked, cancellation of business licenseis bankrupt and suffers from operating loss, bankruptcy and poor operation, partially or completely loses its guarantee ability corresponding to the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgaged, the property pledged for the loan debt hereunder, or if the value of the rights pledged decreasecollateral, pledge or pledge right used as the loan guarantee hereunder decreases or there is a dispute over ownership, The Borrower shall provide other warranty security measures in time accepted approved by the LenderLender within 10 days after the occurrence of the above circumstances.
13. 4.11 The Borrower shall assume such be obliged to cooperate with the lender in loan reconciliation.
4.12 The Borrower shall, in accordance with the requirements of laws and regulations, bear the expenses for lawyer's serviceof lawyer services, insurance, transportation, evaluation, registration, custodystorage, appraisal appraisal, notarization, depository and notarization fees relevant to guarantee in connection with this Contract Agreement and the warrant guarantee hereunder.
4.13 The Borrower shall immediately sign and deliver the return receipt to the Lender or send the return receipt to the Lender within 3 days after signing for the receipt of the collection letter or collection document delivered to it by the Lender directly or by post.
4.14 The borrower shall strengthen environmental and social risk management. If the borrower is involved in major environmental and social risks, it shall submit environmental and social risk report；The Borrower represents and warrants that the internal management documents relating to environmental and social risks are in accordance with the requirements of laws and regulations and are effectively implemented,There are no major litigation cases involving environmental and social risks；The borrower undertakes to accept the lender’s supervision；If the borrower’s statements, warranties or commitments relating to environmental and social risk management have not been seriously fulfilled, or if the Borrower has been penalized by the relevant government authorities or strongly questioned by the public and/or the media for poor environmental and social risk management, The Lender shall have the right to cancel the credit granting commitment already made, suspend the disbursement of the loan until the borrower has taken remedial measures approved by the Lender, withdraw the loan already issued in advance, and exercise the relevant right of pledge in case the loan cannot be repaid.
Appears in 1 contract
Samples: Online Working Capital Loan Agreement (HUHUTECH International Group Inc.)
Rights and Obligations of the Borrower. 1. 9.1 The Borrower shall have has the right to acquire and use learn about 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 credit policy 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 written notice thereof and shall made certain of the protective measures of creditor's rights accepted by the Lender.
9. Where the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to a third party with its principal properties which may influence its repayment capacity hereunder, the Borrower shall send the Lender a written notice thereof and shall obtain consent thereof rate policy from the Lender.
10. 9.2 The Borrower has the right to draw and use the loan according to the term purpose agreed by the Contract.
9.3 The Borrower has the right to apply for extending the period to the Lender if it meets the Lender’s regulation.
9.4 The Borrower has the right to require the Lender to keep the material and information related to debt, finance, production and operation provided by it confidential, unless otherwise stipulated by laws and regulations or agreed by the Contract.
9.5 The Borrower shall ensure that the material provided during loan reviewing shall be true, accurate, complete and valid.
9.6 The Borrower shall periodically provide the true, complete, legal and valid documents, materials and information like the financial accounting statements to the Lender according to the Lender’s requirements, and accept and coordinate with the Lender’s checking and inspection on its investors production & operation, project construction, material inventory, financial situation and loan usage situation.
9.7 The Borrower shall notsupport and coordinate with the Lender’s participation in budget estimate, without approvalbudget, withdraw their capitalfinal settlement review, transfer their assetsbid-inviting and completion acceptance work of the project related to the loan.
9.8 The Borrower shall pay the principal and interest timely according to agreements in the Contract.
9.9 Within the valid term of the Contract, if the Borrower has any change on name, legal representative (principal), domicile, mailing address, contact number, business scope, relationship of administrative subordination, Articles of Association and internal structure, it shall notify the Lender in written within 15 days since the date of change.
9.10 Within the valid term of the Contract, if the Borrower provides guaranty to the debts of the other person or assign their shares makes mortgage and pledge to evade their liabilities to the third person based on its main properties, it shall notify the Lender in written 30 days in advance and obtains the written permission of the Lender.
11. Where there is 9.11 If the Borrower has any change material related transactions with its controlling shareholder and other related companies (including but not limit to the namematerial related purchase and sales contract, legal representativelease, address raw material supply and money flow), or its related party relationship has any change, or the scope operation or financial situation of business of the Borrowerits controlling shareholder and other related companies has serious crisis, the Borrower shall send a written notice thereof to notify the Lender in timewritten within 3 days after the date of occurrence.
12. Where 9.12 Within the assuror hereunder is under any valid term of the following circumstances such as suspension Contract, if the Borrower has contracting, lease, shareholding reform, joint operation, separation, merge (acquisition), joint capital (cooperation), capital reduction, ownership change, asset transfer or disposal, major external investment or other behaviors influencing the realization of businessthe creditor's rights of the Lender, discontinuation of businessit shall notify the Lender in written 30 days in advance and perform the debts paying responsibility under the Contract agreed by the Lender in written, cancellation of registrationor provide other legal and valid guaranty approved by the Lender in written; otherwise, cancellation of business licenseit shall not have the above behavior before paying off all debts under the Contract.
9.13 If the Borrower has severe difficulties in production and operation, bankruptcy deteriorative financial situation, involves in material economic disputes or any other lawsuit, arbitration or criminal and poor operationadministrative penalty having material adverse consequences on its operation or property status, or the assuror loses major part or all of its corresponding warranty capacity relating to this Contractproperties are occupied by other creditors, or took over by the property mortgageddesignated trustee, receiver or the property pledged for the loan hereundersimilar person, or its properties are seized or frozen, which may cause serious loss on the value of the rights pledged decreaseLender, the Borrower shall provide notify the Lender in written within 3 days after the date of occurrence and take the protective measures that ensures repayment of loan principal and interest and all other warranty measures in time accepted by expenses under the Contract on a timely basis according to the requirements of the Lender.
13. 9.14 Within the valid term of the Contract, if the Borrower stops production, closes business, suspends business to bring up to standard, cancels registration, is revoked the business license and cancelled, files or is filed for bankruptcy or dissolution, the Borrower shall notify the Lender in written within 3 days after the date of occurrence and ensure to repay the principle and interest of the loan according to the written requirements of the Lender, or provide the protective measures of the creditor’s rights approved by the Lender in written.
9.15 If the guaranty is adopted by the loan under the Contract and the guaranty has change having adverse effect on the creditor’s rights of the Lender, the Borrower shall additionally provide other legal and valid guaranty approved by the Lender in written according to the requirements of the Lender.
9.16 The Borrower shall assume such expenses for lawyer's of lawyer service, insurance, transportation, evaluationappraisal, registration, custodykeeping, appraisal verification and notarization fees relevant related to this the Contract and the warrant hereunderguaranty under the Contract.
Appears in 1 contract
Samples: Loan Contract of Fixed Assets (Global Pharm Holdings Group, Inc.)
Rights and Obligations of the Borrower. 1. Article XXVIII The Borrower shall have the right to acquire request the Lender to issue loans to the Borrower according to the terms and conditions agreed herein. However, if the Lender is unable to issue loans under the Contract due to changes in national macro-control policies, regulatory authorities’ requirements for the Lender to control the credit scale or investment direction, and other reasons other than those of the Lender, the Lender has the right to stop issuing loans or terminate the Contract.
Article XXIX The Borrower shall have the right to use the loan as Loan for the purposes agreed herein.
2. Article XXX The Borrower shall deal with have the settlement right to require the Lender to keep the relevant financial information provided by the Borrower and deposit affairs relevant to the loan hereunder through business secrets in production and operation confidential, unless otherwise provided by laws, regulations and rules, required by the account competent authorities, or agreed in the Article 2 hereofby both parties.
3. Where the loan hereunder is made in foreign currency, the Article XXXI The Borrower shall go through relevant procedures for approval and registration and other procedures required by law make withdrawals in accordance with relevant provisions.
4. The Borrower shall repay this Contract and pay the principal and interest of the money borrowed Loan on time and in full.
Article XXXII The Borrower shall provide various financial and accounting information, production and operation status information and other materials in accordance with the requirements of the Lender, including but not limited to providing the Lender with the balance sheet at the time end of the previous quarter and the income statement as agreed. Where of the Borrower needs to renew this Contract, it end of the previous quarter (public institutions shall submit a written application thereof to provide the Lender 15 statement of income and expenditure) within ten working days before the maturity date first month of each quarter. At the end of the loanyear, the Borrower shall timely provide the cash flow statement of the year, and an extension contract thereof shall be concluded with ensure that the Lender upon the Lender's consent.
5. The loan shall be used in the way as agreed hereininformation provided is legal, true, complete, accurate and effective, and shall not be illegally occupied provide false materials or misappropriatedconceal important business and financial facts.
6. Article XXXIII 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 notify the Lender in examining writing within 3 working days after the occurrence of any major adverse event affecting its production operationssolvency, financing activities and its use guarantee ability of the loan hereunderGuarantor,or any other circumstance endangering the Lender’s rights, or any change in the name, legal representative (person in charge), domicile, business scope, registered capital or articles of association of the company (enterprise) and other business registration matters, and attach relevant materials after the change.
7. Before taking such activities as contractingArticle XXXIV The Borrower shall use the loan according to the purposes agreed in the Contract, leasingshall not occupy, jointmisappropriate the loan or use bank loans to engage in unlawful or illegal transactions; shall not use the loan for fixed-stock system reformasset investment , merger, split-up, establishing, joint ventures, asset assignment, applying for suspension of business or rectification, voluntary dissolution, voluntary bankruptcy equity investment and other investments, shall not use the loan for the fields and purposes prohibited by the state from production and operation, and shall not replace the liabilities arising from the Borrower’s investment in fixed-asset investment , equity investment and other investments, shall cooperate with and accept the Lender’s inspection and supervision for production, operation and financial activities which are enough to cause changes to of the creditor's rights Borrower as well as the use and liabilities herein or which are enough to influence payment of loans under the realization Contract, and shall cooperate with and accept the relevant requirements of the Lender's ’s post-loan management; shall not withdraw funds, transfer assets or use related party transactions to evade debts to the Lender; shall not use false contracts with related parties to discount or pledge bank funds or credit with bills receivable, accounts receivable and other creditor's rights’s rights without actual trade background; and the Borrower shall pay the loan funds as agreed in the Contract, and shall not evade the entrusted payment of the Lender by breaking up the whole into parts.
Article XXXV The Borrower shall abide by the relevant national regulations on environmental protection in case that the Borrower uses the loan under the Contract for production and manufacturing.
Article XXXVI Before paying off the loan principal and interest to the Lender, the Borrower shall not carry out use the foregoing activities unless it notifies assets formed by the Lender in written form in advance and concurrently makes certain loan under the Contract to provide guarantee to the third party without the consent of its performance of debt or fulfills its repayment obligations in advancethe Lender.
8. Save as provided in the above item 7 of this Article, where Article XXXVII If 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 conditiona group customer, the Borrower shall forthwith send promptly report to the Lender a written notice thereof and shall made certain any related transactions of more than 10% of the protective measures Borrower’s net assets, including the relationship among transaction parties, transaction item and nature, transaction amount or corresponding ratio and pricing policy (including transactions involving no amount or only nominal amount). Group customer means enterprises and institutions with the following characteristics:
1. Directly or indirectly controlling or being controlled by legal person of other enterprises and institutions in terms of creditor's ’s rights accepted by the Lenderor business operations.
92. Where the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to Jointly controlled by legal person of a third party enterprise or institution.
3. Under jointly direct control or indirect control of the main individual investors, key management personnel or close family members (including lineal relatives within three generations and collateral relatives within two generations).
4. Have other related relationships and transfer assets and profits not in accordance with its principal properties which may influence its repayment capacity hereunderthe principle of fair price, the Borrower shall send the Lender a written notice thereof and shall obtain consent thereof from be regarded as credit management for the Lendergroup customer.
10. The Borrower and its investors shall not, without approval, withdraw their capital, transfer their assets, or assign their shares to evade their liabilities to the Lender.
11. Where there is any change to the name, legal representative, address or the scope of business of the Borrower, the Borrower shall send a written notice thereof to the Lender in time.
12. Where the assuror hereunder is under any of the following circumstances such as suspension of business, discontinuation of business, cancellation of registration, cancellation of business license, bankruptcy and poor operation, or the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgaged, the property pledged for the loan hereunder, or the value of the rights pledged decrease, the Borrower shall provide other warranty measures in time accepted by the Lender.
13. Article XXXVIII The Borrower shall assume obtain the written consent of the Lender before carrying out major issues such expenses for lawyer's serviceas merger, insuranceseparation, transportationequity transfer, evaluationforeign investment and substantial increase in debt financing. However, registration, custody, appraisal and notarization fees relevant the written consent of the Lender shall not affect the Lender’s right to this use the remedies agreed in the Contract and when the warrant hereunderLender believes that the above-mentioned acts may endanger the safety of the Lender’s creditor’s rights in the future.
Appears in 1 contract
Rights and Obligations of the Borrower. 1. 11.1 The Borrower is entitled to request the Lender to disburse the Loan in accordance with the proposed schedule.
11.2 The Borrower is responsible for the full and timely performance of its obligations under this Agreement.
11.3 The Borrower is responsible for providing and presenting the original document to prove the owner /source of the Collateral if required by the Lender and / or the competent State Authorities.
11.4 The Borrower is responsible to inform the Lender on the rights of the third party to the Collateral, if any.
11.5 The Borrower undertakes that duration of the Loan Term, the Borrower will:
(a) Transfer/ pass documents related to the Collateral to the Lender, unless otherwise agreed or prescribed by law.
(b) take care of and preserve the Collateral.
(c) if the Collateral is in danger of losing its value or depreciating in value due to its exploitation, to take necessary remedial measures, including ceasing the exploitation of the Collateral.
(d) when the Collateral is damaged, within a reasonable period, the Borrower will repair or substitute another asset with equivalent value, unless otherwise agreed.
(e) provide information about the actual condition of the Collateral to the Lender.
(f) deliver the Collateral to the Lender, if
(i) the Borrower cannot repay the Loan, its interest and/or others on time; or
(ii) the Borrower violates provisions/ obligation as agreed or prescribed by law.
(g) notify the Lender on any third person’s rights to the Collateral (if any). In the case of failure to provide such notice, the Lender (as the mortgagee) shall have the right to acquire cancel the contract of mortgage of assets and use demand compensation for damage or the loan as agreed hereinright to maintain the contract and agree on the rights of the third person with respect to the Collateral.
2(h) not sell, not exchange, not give/ present/ donate, not lease, or not lend to the Collateral. To avoid misunderstanding, during the Loan Term, the Collateral will be managed and kept by the Borrower. .
11.6 The Borrower shall deal with the settlement undertakes unconditionally and deposit affairs relevant irrevocably to liable and indemnify to the loan hereunder through Lender for all costs of lawsuits, damages, losses and other expenses in related or arising from transactions between the account agreed in Parties under this Agreement, including but not limited to the Article 2 hereofLoan and the Collateral.
3. Where the loan hereunder is made in foreign currency11.7 By this Agreement, the Borrower shall go through commits and to be responsible before the laws and the Lender for the following undertakings:
(a) To comply with all applicable laws and regulations relating to the performance of the Borrower's obligations under the terms of this Agreement and the relevant procedures for approval and registration and other procedures required by law in accordance with relevant provisionsagreements.
4. The Borrower shall repay the principal and interest of the money borrowed at the time as agreed. Where (b) Any information provided by 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, under this Agreement is true and an extension contract thereof shall be concluded with the Lender upon the Lender's consentcorrect.
5. (c) The loan shall Borrower will be used in responsible for its any request, notice or certification made by the way as agreed hereinphone and agreeing that such request, notice or confirmation will make arisen and shall not be illegally occupied or misappropriatedset up the legal liability and to take effect binding to the Borrower under this Agreement.
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 written notice thereof and shall made certain of the protective measures of creditor's rights accepted by the Lender.
9. Where the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to a third party with its principal properties which may influence its repayment capacity hereunder, the Borrower shall send the Lender a written notice thereof and shall obtain consent thereof from the Lender.
10. The Borrower and its investors shall not, without approval, withdraw their capital, transfer their assets, or assign their shares to evade their liabilities to the Lender.
11. Where (d) If there is any change in any information of the Borrower stated in this Agreement (including but not limited to relevant information such as phone number, email, residential address, and any other information likely to affect the name, legal representative, address or the scope of business repayment capacity of the Borrower), the Borrower shall send a written hereby undertakes and is responsible to notice thereof to with the Lender in timeBorrower at once of change.
12. Where (e) The Collateral is owned legally by the assuror hereunder Borrower, at present, there is under not any of the following circumstances such as suspension of business, discontinuation of business, cancellation of registration, cancellation of business license, bankruptcy and poor operationdispute, or the assuror loses part dealt with by any competent individual, organization or all its corresponding warranty capacity relating to this Contract, or the property mortgagedstate authorities in accordance with law. Currently, the property Collateral has legal origins and not pledged for the loan hereunder, mortgaged or the value of the rights pledged decrease, the Borrower shall provide other warranty measures in time accepted guaranteed anywhere else to any third party.
(f) This Agreement is signed by the LenderParties voluntary, not deceived or coerced.
13. The Borrower shall assume such expenses for lawyer's service, insurance, transportation, evaluation, registration, custody, appraisal and notarization fees relevant to this Contract and the warrant hereunder.
Appears in 1 contract
Samples: Loan Agreement
Rights and Obligations of the Borrower. 1. 18.1 The Borrower shall have the right to acquire and use request the Lender to extend the loan as agreed herein.in accordance with this Contract;
2. 18.2 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 effect drawdowns in accordance with relevant provisions.the Drawdown Plan hereunder;
4. 18.3 The Borrower shall repay the principal and interest of the money borrowed at loan in accordance with this Contract;
18.4 If the time as agreed. Where Lender believes that a transaction conduct in respect of the Borrower needs to renew loan Project hereunder contains a defect that may result in nullification of this Contract, it shall submit a written application thereof to or if the transaction fails, the Lender 15 days before the maturity date of the loan, and an extension contract thereof shall be concluded with entitled to request 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 immediately repay 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 written notice thereof and shall made certain so repay immediately upon receipt of the protective measures notice of creditor's rights accepted by the Lender.
9. Where the Borrower provides a warranty for other person's liabilities or provides a mortgage or pledge to a third party with its principal properties which may influence its repayment capacity hereunder, the 18.5 The Borrower shall send promptly handle and complete all formalities in accordance with relevant foreign exchange administration regulations of the state;
18.6 The Borrower shall obtain prior written consent of the Lender with respect to any transfer of its operating assets amounting to 50% or above of its total assets;
18.7 In the event of a written notice thereof and shall obtain consent thereof from the Lender.
10. The Borrower and its investors shall notmerger, without approval, withdraw their capital, transfer their assets, spin-off or assign their shares to evade their liabilities to the Lender.
11. Where there is any change to the name, legal representative, address other ownership or the scope of business of the Borrower, the Borrower shall send a written notice thereof to the Lender in time.
12. Where the assuror hereunder is under any of the following circumstances such as suspension of business, discontinuation of business, cancellation of registration, cancellation of business license, bankruptcy and poor operation, or the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgaged, the property pledged for the loan hereunder, or the value of the rights pledged decreasestructural change, the Borrower shall provide other warranty measures the Lender a 30 days notice of the relevant plan of change and must obtain the Lender’s consent thereto. No such plan of change shall prejudice the legitimate rights and interest of the Lender under this Contract;
18.8 If the Borrower provides guarantee to a third party and if the cumulative guarantee amount threatens to exceed 70% of its net assets stated in time accepted the financial statements of the most recent fiscal year, the Borrower must obtain from the Lender its written consent thereto.
18.9 The Borrower shall not apply for loans with the Lender by way of false reporting, etc.
18.10 The Borrower shall cooperate with the Lender on its credit rating work and shall provide relevant documents in accordance with the request of the Lender.
13. 18.11 The Borrower shall assume such expenses for lawyer's service, insurance, transportation, evaluation, registration, custody, appraisal within 10 days of the occurrence of the conduct of acquisition provide information on the acquired shares and notarization fees relevant to the use of the Loan Funds.
18.12 Any money or other derivatives transactions undertaken by the Borrower under this Contract and shall obtain the warrant hereunderconsent of the Lender.
Appears in 1 contract
Samples: Foreign Exchange Loan Contract (Aluminum Corp of China)
Rights and Obligations of the Borrower. 1. 3.1 The Borrower shall have has the right to acquire obtain 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 provisionsthis agreement.
4. 3.2 The Borrower shall repay the principal and interest of the money borrowed at the time as agreedtimely. Where Should the Borrower needs to renew this Contractextend the loan term, it shall submit a an application in written application thereof to the Lender 15 days before prior to the maturity expiry date of the loan, and an . An extension contract thereof agreement shall be concluded signed with the Lender upon after the Lender's ’s consent.
5. 3.3 The Borrower should use the loan shall be used in the way as agreed herein, and shall not be illegally occupied or misappropriatedaccordance with this agreement.
6. 3.4 The Borrower shall provide truethe Lender authentic, integrate complete and valid financial statements or and other related data relevant materials and information to the Lender on a monthly basis information, and shall actively cooperate with the Lender in examining Lender’s investigation and supervision on its production operationsproduction, financing activities operation and its use of the loan hereunderfinancial situation.
7. Before taking such 3.5 In case where the Borrower conducts any activities of contracting for management, lease out, reform as contractinga company limited by shares, leasingjoint operation, joint-stock system reformcombination, merger, split-up, establishingdivision, joint venturesventure, asset assignmenttransfer of assets, applying application for suspension rectification of business or rectificationbusiness, voluntary application for dissolution, voluntary bankruptcy application for bankruptcy, and any other activities which are enough to cause changes to the creditor's rights and liabilities herein or which are enough to influence shall affect the realization of the Lender's creditor's rights’s rights hereunder, the Borrower shall not carry out the foregoing activities unless it notifies inform the Lender in written form in advance and concurrently makes certain of obtain the Lender’s written consent; otherwise the Borrower is not allowed to conduct such activities before paying off the indebtedness hereunder.
3.6 If the Borrower is occurred any events other than those described in subsection 3.5 substantially adverse affect its performance of debt or fulfills its repayment obligations in advance.
8. Save as provided in the above item 7 of this Articleobligation hereunder, 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 businessincluding but not limited to shutdown, discontinuation of businessshutout, cancellation of registration, cancellation revocation of business license, or where its deregistration, the involvement of illegal activity of the legal representative or major principals are involved person in illegal activitiescharge, the Borrower is involved in material lawsuits involvement of substantial lawsuit or arbitrationsarbitration, or grave difficulties arise in its substantial trouble of production operations, or and operation and deterioration happens in of its financial conditionsituation, the Borrower shall forthwith send inform the Lender a immediately in written notice thereof and shall made certain of the protective provide security measures of creditor's rights accepted acknowledged by the Lender.
9. Where 3.7 If the Borrower provides a warranty guarantee for other person's liabilities ’s indebtedness or provides a creates mortgage or pledge over its major assets, which would affect its capability to a third party with its principal properties which may influence its repayment capacity hereunderpay the indebtedness under this agreement, the Borrower shall send notify the Lender a in written notice thereof and shall obtain consent thereof from the Lender’s consent.
3.8 The Borrower and its investor may not withdraw capital, transfer asset or shares to avoid the payment of indebtedness of the Lender.
10. 3.9 The Borrower and shall inform the Lender in written of alteration of its investors shall not, without approval, withdraw their capital, transfer their assets, or assign their shares to evade their liabilities to the Lender.
11. Where there is any change to the registration issues regarding registered name, legal representative, and liaison address or the scope of and business of the Borrower, the Borrower shall send a written notice thereof to the Lender in timescope.
12. Where the assuror hereunder is under any of the following circumstances such as suspension of business, discontinuation of business, cancellation of registration, cancellation of business license, bankruptcy and poor operation, or the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgaged, the property pledged for the loan hereunder, or the value of the rights pledged decrease, the Borrower shall provide other warranty measures in time accepted by the Lender.
13. The Borrower shall assume such expenses for lawyer's service, insurance, transportation, evaluation, registration, custody, appraisal and notarization fees relevant to this Contract and the warrant hereunder.
Appears in 1 contract
Rights and Obligations of the Borrower. 1I. The Borrower shall be entitled to obtain and use the loan in accordance with the terms of this Contract, ensure that the use of funds is not related to money laundering, violations, illegal or criminal activities, and accept the supervision of the Lender over the use of the loan.
II. The Borrower shall have be entitled to request the right Lender to acquire keep confidential the information provided by the Borrower, except as otherwise provided by laws, regulations, and use the loan rules, and as otherwise agreed hereinin this Contract.
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.
6III. The Borrower shall provide trueinformation as required by the Lender, integrate and valid financial statements or other related data ensure that the relevant materials, documents, and information provided to the Lender on a monthly basis are complete, accurate, true, valid, and legal.
IV. The Borrower shall use the loan for the purposes as stipulated herein and shall not divert the loan for other purposes (including, but not limited to, speculative operations in securities, futures, equity investment, purchasing houses, areas prohibited by national laws, regulations, and administrative regulations, or projects not approved by law, as well as projects or purposes prohibited from using bank loans).
V. The Borrower shall actively cooperate with the Lender in examining its production operations, financing activities and its use of authorized agents in investigating, understanding, and supervising the loan hereunderproduction, operation, and financial activities related to the Borrower and the Guarantors or the collateral under this Contract.
7VI. Before taking such activities as contracting, leasing, joint-stock system reform, merger, split-up, establishing, joint ventures, asset assignment, applying for suspension In case of business or rectification, voluntary dissolution, voluntary bankruptcy and other activities which any change in the Borrower’s financial position that may adversely affect its debt repayment ability before all the loans 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 rightsrepaid, the Borrower shall not carry out the foregoing activities unless it notifies notify the Lender in written form in advance and concurrently makes certain of its performance of debt or fulfills its repayment obligations in advancewriting within 10 days.
8VII. Save as provided in If any of the above item 7 of this Article, where following events occur to the Borrower or if there is any event that may pose a risk to the Borrower’s normal operation or threaten the Borrower’s repayment obligation 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 conditionthis Contract, the Borrower shall forthwith send immediately notify the Lender a written notice thereof in writing and shall made certain actively implement safeguard measures for the timely and full repayment of the protective measures of creditor's rights accepted loan principal and interest and all other payable amounts as required by the Lender.:
9. Where (I) Any default event occurs under the loan contracts, credit line agreements, and credit contracts or guarantee contracts signed by the Borrower provides a warranty for with banks or other person's liabilities financial institutions, or provides a mortgage or pledge to a third party with its principal properties which may influence its repayment capacity hereunder, other financing agreements signed by the Borrower shall send with any other creditors;
(II) Changes in the Lender a written notice thereof and shall obtain consent thereof from the Lender.
10. The Borrower and its investors shall notBorrower’s address, without approval, withdraw their capital, transfer their assetscontact number, or assign their shares to evade their liabilities to financial position;
(III) Circumstances that may result in the Lender.
11. Where there is any change to the nameloss of mortgaged property, legal representative, address or such as being included in the scope of business of the Borrowerdemolition, the Borrower shall send a written notice thereof to the Lender in time.
12. Where the assuror hereunder is under any of the following circumstances such as suspension of business, discontinuation of business, cancellation of registration, cancellation of business license, bankruptcy and poor operationcompulsory expropriation, or the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgaged, the property pledged for the loan hereunder, or the value of the rights pledged decrease, the Borrower shall provide other warranty measures in time accepted by the Lender.
13. The Borrower shall assume such expenses for lawyer's service, insurance, transportation, evaluation, registration, custody, appraisal and notarization fees relevant to this Contract and the warrant hereunder.compulsory scrapping;
Appears in 1 contract
Rights and Obligations of the Borrower. 1. The Borrower shall have the right is entitled to acquire receive and use the proceeds of the loan as agreed hereinpursuant to the terms and conditions of the Contract.
2. The Borrower shall deal with the settlement is entitled to settle and deposit affairs relevant the payables/receivables related to the loan hereunder under the Contract through the account agreed account(s) mentioned in Article Two of the Article 2 hereofContract.
3. Where If the loan hereunder under this Contract is made in foreign currency, the Borrower shall go through relevant procedures for obtain approval and registration and complete other legal procedures required by law in accordance with related to the loan pursuant to relevant provisionsregulations.
4. The Borrower shall repay the principal and interest of the money borrowed at the time as agreedinterests on time. Where the The Borrower needs to renew this Contract, it shall submit a written application thereof apply in writing to the Lender for extension within 15 days before prior to the maturity date and sign the extension agreement upon the consent of the loan, and an extension contract thereof shall be concluded with the Lender upon the Lender's consent.
5. The proceeds of the loan shall be used in on the way as agreed herein, prescribed purpose under the Contract and shall may not be illegally occupied diverted or misappropriatedappropriated.
6. The Borrower shall provide to the Lender with true, integrate full and valid effective financial statements or other related data and information to the Lender on a monthly basis and shall cooperate actively cooperate with the Lender in examining to check its production business operations, financing financial activities and its use applications of the loan hereunderunder the Contract.
7. Before taking such activities as The Borrower shall give a written notice to the Lender and obtain the approval from the Lender in advance, settle the obligations of repayment or make the early repayment of the loan before the Borrower has any conduct that may have impact on the relationship between the Parties or on the realization of creditor’s right, including contracting, leasing, joint-stock system reformreorganization of limited company, joint operation, separation, merger, split-up, establishingacquisition or being acquired, joint venturesventure, asset assignmentassets transfer, applying application for suspension of suspending business or for 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 advanceetc.
8. Save as provided In case of any of the conditions occurs to the Borrower, other than those stated in the above item Item 7 of this Article, where the Borrower is under any such other circumstances which will exert great detrimental effects on its fulfillment obligations including termination of repayment hereunder as production, suspension of business, discontinuation of business, cancellation of registration, cancellation revocation of business license, illegal activities of legal representatives or where its legal representative principals, major litigation or major principals are involved arbitration, serious difficulty in illegal activitiesbusiness operation, deterioration in financial situation, that may seriously affect the fulfillment of the obligations by the Borrower is involved in material lawsuits or arbitrations, or grave difficulties arise in its production operations, or deterioration happens in its financial conditionunder the Contract, the Borrower shall forthwith send immediately inform the Lender a written notice thereof in writing and shall made certain of the protective measures of creditor's rights accepted take actions permitted by the LenderLender to preserve the creditor’s rights.
9. Where The Borrower shall provide written notice and obtain written consent from the Lender if the Borrower provides a warranty decides to use its main property as security to provide guarantee for other person's liabilities or provides a mortgage or pledge to a third party with its principal properties party’s loan, which may influence affect the Borrower’s ability to fulfill its repayment capacity hereunder, the Borrower shall send the Lender a written notice thereof and shall obtain consent thereof from the Lenderobligations under this Contract.
10. The Borrower and its investors shall notinvestor(s) may not withdraw the funds, transfer the assets or, without approval, withdraw their capitalconsent, transfer their assets, or assign their the shares to evade their liabilities to for the Lenderpurpose of avoiding repayment of the loan.
11. Where there is The Borrower shall, in a timely manner, inform the Lender in writing of any change to the namealterations of names, legal representativerepresentatives, address or the addresses, scope of business of the Borrower, the Borrower shall send a written notice thereof to the Lender in time.
12. Where If the assuror hereunder is under any guarantor of the following circumstances such as loan under this Contract is in situations including termination of production, suspension of business, discontinuation of business, cancellation of registration, cancellation revocation of business license, bankruptcy and poor operation, losses in operation which cause the guarantor to partially or the assuror loses part or all wholly loss its corresponding warranty capacity relating ability to this Contract, or the property mortgaged, the property pledged for the loan hereunderguarantee, or the value of the rights pledged decreasemortgage, pledge, pledge right has decreased, the Borrower shall provide other warranty guarantee measures that are acceptable to the Lender in time accepted by the Lendera timely manner.
13. The Borrower shall assume such bear the expenses for lawyer's serviceincurred associated with the loan under this Contract, including legal fees, insurance, transportation, evaluationvaluation, registration, custodystorage, appraisal and notarization fees relevant to this Contract and the warrant hereundernotarization.
Appears in 1 contract
Rights and Obligations of the Borrower. 1In addition to other obligations provided in the Loan Agreement, the Borrower undertakes: to pay all costs related to the performance of the Loan Agreement, including costs related to the payment of payments under the Loan Agreement and securing the Loan Agreement, as well as costs related to debt collection and court costs related to resolving disputes arising from the Loan Agreement, unless otherwise provided by legislation. The Borrower shall pay for the reminder letters sent for the obligation that has become collectible in the amounts provided for in § 113-2 of the Law of Obligations Act; in the performance of its obligations, not to give preference to the Borrower's other creditors of the Borrower, unless otherwise provided by law, and to ensure at all times that hos/her obligations under the Loan Agreement are equivalent to all other obligations of the Borrower at the time of entry into force of the Agreement, except for those that are obligatorily preferred pursuant to the law; duly comply with all the terms and conditions of the Collateral Agreement entered into to secure the Loan Agreement. The Parties have agreed, and the Borrower has understood that the breach of the Borrower's obligations arising from the Collateral Agreement shall also be considered a breach of the Loan Agreement, which entitles the Lender to use all legal remedies arising from the breach of the Loan Agreement; to take all necessary steps to ensure that the Collaterals provided under the agreements entered into to secure the claims arising from the Loan Agreement are sufficient to secure the claims arising from the Loan Agreement at all times, inter alia, in the event of a significant decrease in the value of the Collateral, replace the Collateral with the equivalent Collateral or create additional Collateral to secure the claims arising from the Loan Agreement. The Lender shall decide on the adequacy, impairment, and adequacy of new Collaterals provided on the basis of agreements entered into to secure the claims arising from the Loan Agreement; to notify the Lender immediately, but not later than within 3 (three) working days, in writing or in electronic form of the following circumstances: Changes in the contact and/or personal data (incl. residence and/or postal address, e-mail address, telephone number, bank details, etc.) submitted to the Lender upon concluding the Loan Agreement; Submission of a bankruptcy petition, the appointment of a temporary trustee in bankruptcy, declaration of bankruptcy, and initiation of enforcement proceedings against the Borrower or the person securing the obligations arising from the Loan Agreement; any circumstances that reduce the solvency of the Borrower or the person securing the obligations arising from the Loan Agreement or prevent or otherwise render impossible the performance of the Borrower or the person securing the obligations arising from the Loan Agreement in accordance with the terms of the Loan Agreement or the corresponding Collateral Agreement. At the request of the Lender, within 3 (three) business days of receiving the respective request from the Lender, to provide the Lender with information on his/her financial situation, the situation and value of Collaterals provided on the basis of agreements entered into to secure claims arising from the Loan Agreement or other circumstances concerning the performance of the Loan Agreement. The Borrower has the right to acquire and use request from the loan as agreed herein.
2Lender at any time during the term of the Loan Agreement the Schedule of Loan Repayments to be made on the basis of the Loan Agreement, in which the repayment term of the principal amount is determined. The Borrower has the right to apply for the extension of the term of the Loan Agreement by 1 (one) month if he/she pays in advance all interest accrued during the initial repayment term of the Loan. The Lender shall deal with decide on the settlement application at his/her own discretion and deposit affairs relevant shall notify the Borrower of the approval or rejection of the application, at least in a form that can be reproduced in writing. If the Lender rejects the application, the Borrower undertakes to repay the loan hereunder through Loan within the account term initially agreed in the Article 2 hereof.
3Loan Agreement. Where Withdrawal from the loan hereunder is made in foreign currencyLoan Agreement If the preconditions for disbursement of the Loan are not fulfilled no later than within 14 (fourteen) days after the entry into force of the Loan Agreement, the Lender has the right to withdraw from the Loan Agreement. The Borrower has the right to withdraw from the Loan Agreement within 14 days of the entry into force of the Agreement. If the Loan amount has been paid to the Borrower prior to withdrawal from the Loan Agreement, the Borrower undertakes to return to the Lender immediately, but not later than 30 days after the withdrawal application the principal of the Loan and the interest accrued thereon from the disbursement of the Loan to the Borrower until the repayment of the principal of the Loan at the rate applicable to the Loan, otherwise, the Borrower shall go through relevant procedures for approval and registration and other procedures required by law in accordance with relevant provisions.
4be deemed not to have withdrawn from the Loan Agreement. The Borrower shall repay Termination of the Loan Agreement Loan Agreement terminates when the principal and interest amount of the money borrowed at the time as agreed. Where the Borrower needs to renew this Contract, it shall submit a written application thereof Loan has been returned to the Lender 15 days before in full, and the maturity date accrued interest has been paid in full, and the Borrower has fulfilled all other financial obligations to the Lender arising on the basis of the loanLoan Agreement. The Lender has the right to cancel the Loan Agreement extraordinarily and immediately for good reason. Immediate cancellation need not be notified by the Lender in advance unless otherwise provided in this clause. The following, and an extension contract thereof in particular, but not limited to, shall be concluded deemed to be a valid ground for immediate cancellation: The Borrower has not fully or partially duly paid three consecutive payments under the Loan Agreement and has not paid the indebtedness within the additional term of at least two weeks provided by the Lender, which was given together with a statement by which the Lender upon informed that in case of non-payment of the Lender's consent.
5. The loan payments under the Loan Agreement within the additional term, he/she shall be used in cancel the way as agreed herein, Loan Agreement and shall not be illegally occupied or misappropriated.
6. demand payment of the entire amount due; The Borrower shall provide true, integrate and valid financial statements or other related data and a third party has provided false information to the Lender during the pre-contractual negotiations or in other documents related to the agreements entered into to secure the claims arising from the Loan Agreement or has failed to provide information known to him/her concerning the performance or Collateral of the Loan Agreement (including data concerning the Collateral or if the Borrower knowingly failed to provide the information necessary for the assessment of creditworthiness or falsified the information provided to the Lender); The Borrower has not duly fulfilled one or more of the notification obligations provided in clause 8.1.5 or 8.1.6 of the Loan Agreement; Cancellation of the Collateral Agreement or other Agreement referred to in clause 11 of the Special Terms and Conditions or termination on any other basis, or if the Lender becomes obliged on any legal basis to return the ownership of the Collateral to the Borrower prior to the full performance of the Loan Agreement; Significant breach by the Borrower or a monthly third party of one or more obligations arising from the Collateral Agreement or other Agreement referred to in clause 11 of the Special Term and Conditions; The Lender has reasonable grounds to believe that the Collaterals provided on the basis and shall actively cooperate of the agreements entered into to secure the claims arising from the Loan Agreement do not sufficiently secure the Lender's claims arising from the Loan Agreement, inter alia, a decrease in the value of the Collateral or the occurrence of an insured event in relation to the relationship, as well as the commencement of bankruptcy or enforcement proceedings against the guarantor; A reduction in the Borrower's solvency that jeopardizes the Borrower's ability to perform the Loan Agreement properly or renders the relationship impossible, inter alia, the commencement of bankruptcy or enforcement proceedings against the Borrower; The Borrower has not provided the Lender with the information requested by the Lender in examining its production operationsconnection with the prevention of money laundering and terrorist financing, financing or the Lender has a suspicion that the Borrower's activities are related to money laundering and its use terrorist financing; The Borrower fails to properly perform the obligations arising from other agreements entered into with the Lender; breach of any other obligation of the loan hereunder.
7. Before taking such activities as contractingBorrower arising from the Loan Agreement, leasingif the Lender, 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 after becoming aware of the Lenderbreach, has given the Borrower a reasonable term to remedy or eliminate the breach and the breach has not been remedied or eliminated within the specified time, unless the granting of an additional term is not necessary pursuant to subsection 196 (2) of the Law of Obligations Act; other basis provided by law. Borrower's creditor's rightsliability In each case provided for in clauses 10.2.2, 10.2.3, 10.2.4, 10.2.5, 10.2.8, 10.2.9, or 10.2.10 of the Loan Agreement, the Borrower shall not carry out Lender has 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 right to demand a contractual penalty from 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, (with or without cancellation of registrationthe Loan Agreement) for each case. up to 500 euros, cancellation unless the Agreement provides for another amount of contractual penalty for breach of a specific obligation. The Borrower must pay the contractual penalty within 5 (five) 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 written notice thereof and shall made certain days of the protective measures submission of creditor's rights accepted the respective claim by the Lender.
9. Where Payment of the contractual penalty does not release from the performance of the obligation. In addition to the contractual penalty, the Lender has the right to demand compensation for damage to the extent that it is not covered by the contractual penalty. Assignment of claims and defaults The Lender has the right in any form to assign any financial claims arising from the Loan Agreement against the Borrower provides a warranty for other person's liabilities in part or provides a mortgage or pledge in full to a an unlimited number of third party with its principal properties which may influence its repayment capacity hereunderparties and in connection therewith: in order to assign the claim, the Borrower shall send Lender may disclose to potential acquirers of the claims and other third parties in any manner and form, inter alia, the following information: Borrower's income (salary, etc.), expenses, credit history (including payment defaults), age, gender and place of residence; details of the Collateral set to ensure compliance with the requirements arising from the Loan Agreement (including the make, model, color, fuel, year of issue, engine power, mileage, value, photograph, etc. of the Collateral provided to the Lender a written notice thereof under the Collateral Agreement); as well as the terms and conditions of the Loan Agreement (including the Loan amount, interest rate and the Loan period). The Lender shall obtain consent thereof not disclose the Borrower's name, personal identification code, telephone number, e-mail address, photograph, or the registration number of the Collateral in the manner described above; the Lender has the right to transfer the documents related to the claim or their copies to the acquirer of the assigned claim (incl. the Agreement and additional documents and the Borrower's personal data that the Lender has regarding the Borrower in connection with the Agreement and other related documents); the Lender has the right (but not the obligation) to remain the acquirer's representative in relations with the Borrower in accordance with the Agreement entered into with the claim acquirer (among other things, to receive payments from the Lender.
10Borrower on behalf of the acquirer). The Borrower and its investors shall not, without approval, withdraw their capital, transfer their assets, or assign their shares Unless otherwise notified by the Lender to evade their liabilities to the Lender.
11. Where there is any change to the name, legal representative, address or the scope of business of the Borrower, the Borrower shall send a written notice thereof make the payments provided for in the Loan Agreement to the Lender in time.
12. Where Lender; the assuror hereunder is under any acquirer of the following circumstances such as suspension claim arising from the Loan Agreement has rights equivalent to the rights of businessthe Lender set forth in clauses 12.1 and 12.2 of the Loan Agreement after the acquisition of the claim, discontinuation and the Borrower hereby consents to the exercise of businessthese rights by the acquirer of the claim. The Lender has the right to notify the persons engaged in the disclosure of data to third parties in order to enable the assessment of creditworthiness or for other similar purposes, cancellation and the respective person has the right to register in the respective (payment default) register the breach of registrationthe Borrower's payment obligation arising from the Loan Agreement (disclosing, cancellation of business license, bankruptcy and poor operation, or the assuror loses part or all its corresponding warranty capacity relating to this Contract, or the property mortgagedinter alia, the property pledged for Borrower's name, personal identification code and amount and basis of debt) and publish it in the loan hereunder, or the value of the rights pledged decrease, the Borrower shall provide other warranty measures in time accepted by the Lenderrelevant (payment default) register.
13. The Borrower shall assume such expenses for lawyer's service, insurance, transportation, evaluation, registration, custody, appraisal and notarization fees relevant to this Contract and the warrant hereunder.
Appears in 1 contract
Samples: Loan and Collateral Agreement
