Common use of Rights/Obligations Clause in Contracts

Rights/Obligations. The Lender shall have the right to monitor and supervise the use of the Loan and understand the solvency of the Borrower. The Borrower shall provide the relevant information truthfully. If the Borrower fails to use the loan as terms and conditions stipulated in the Contract, the Lender shall have the right to recover part of the loan and impose penalty interest on the default part in accordance with the provisions of the Bank. In case of prepayment by the Lender, the interest shall be reduced as required.