Common use of Term of Loan Clause in Contracts

Term of Loan. 3.1 The term of the Loan hereunder shall commence from the date when Party B actually receives the Loan to the tenth (10th) anniversary of the date hereof (the “Term of Loan”). 3.2 The Term of Loan will be automatically extended for another ten (10) years upon the expiry of the first ten-year term, and so forth thereafter for unlimited number of times, unless Party A sends a prior written notice to disapprove the extension of Term of Loan. Once Party A sends such notice, the Loan shall become mature at the end of the term, and Party B shall perform its repayment obligation in the manner stipulated in Article 4 below within thirty (30) days upon the maturity of the Loan. Party B has no right to decide on the extension of the term, nor may it repay the Loan before scheduled. 3.3 During the term or any extended term of the Loan, the Loan will become immediately due and payable by Party B (or its inheritors, successors or assigns) in the manner stipulated in Article 4 hereof if: (1) Party B dies or becomes a person incapacitated or with limited capacity for civil acts; (2) Party B ceases to hold the position of director or senior officer of Party A or any of its affiliates, or leaves, or is dismissed by, Party A or any of its affiliates; (3) Party B commits or is involved in a crime; (4) any third-party claims RMB five hundred thousand (¥500,000) against Party B; (5) any of the representations or warranties made by Party B hereunder is proved to be untrue at the time it is made, or inaccurate in any material respect; or Party B breaches any of its obligations under this Agreement or any other agreement entered into with Party A, including without limitation the Equity Pledge Agreement (as defined below) and Exclusive Call Option Agreement (as defined below); (6) Party A exercises the exclusive call option under the Exclusive Call Option Agreement defined in Article 5.2 below; (7) this Agreement, the Equity Pledge Agreement, or the Exclusive Call Option Agreement is terminated or held invalid by any court for any reason whatsoever; or (8) Party A, at its sole discretion, sends a written notice to Party B at any time, requesting Party B to repay the Loan earlier than scheduled.

Term of Loan. 3.1 The term of the Loan hereunder shall commence from the date when Party B actually receives the Loan to the tenth (10th) anniversary of the date hereof (the “Term of Loan”)hereof. 3.2 The Term term of the Loan will be automatically extended for another ten (10) years upon the expiry of the first ten-year term, and so forth thereafter for unlimited number of times, unless Party A sends a prior written notice to disapprove the extension of Term of Loanextension. Once Party A sends such notice, the Loan shall become mature at the end of the term, and Party B shall perform its repayment obligation in the manner stipulated in Article 4 below within thirty (30) days upon the maturity of the Loan. Party B has no right to decide on the extension of the term, nor may it repay the Loan before scheduled. 3.3 During the term or any extended term of the Loan, the Loan will become immediately due and payable by Party B (or its inheritors, successors or assigns) in the manner stipulated in Article 4 hereof if: (1) Party B dies or becomes a person incapacitated or with limited capacity for civil acts; (2) Party B ceases to hold the position of director or senior officer of Party A or any of its affiliates, or leaves, or is dismissed by, Party A or any of its affiliates; (3) Party B commits or is involved in a crime; (4) any third-third party claims RMB five hundred thousand (¥500,000) against Party B; (5) any of the representations or warranties made by Party B hereunder is proved to be untrue at the time it is made, or inaccurate in any material respect; or Party B breaches any of its obligations under this Agreement or any other agreement entered into with Party A, including without limitation the Equity Pledge Agreement (as defined below) and Exclusive Call Option Agreement (as defined below); (6) Party A exercises the exclusive call option under the Exclusive Call Option Agreement defined in Article 5.2 below; (7) this Agreement, the Equity Pledge Agreement, or the Exclusive Call Option Agreement is terminated or held invalid by any court for any reason whatsoever; or (8) Party A, at its sole discretion, sends a written notice to Party B at any time, requesting Party B to repay the Loan earlier than scheduled.

Term of Loan. 3.1 The term of the Loan hereunder shall commence from the date when Party B actually receives the Loan to the tenth (10th) anniversary of the date hereof (the “Term of Loan”). 3.2 The Term of Loan will be automatically extended for another ten (10) years upon the expiry of the first ten-year term, and so forth thereafter for unlimited number of times, unless Party A sends a prior written notice to disapprove the extension of Term of Loan. Once Party A sends such notice, the Loan shall become mature at the end of the term, and Party B shall perform its repayment obligation in the manner stipulated in Article 4 below within thirty (30) days upon the maturity of the Loan. Party B has no right to decide on the extension of the term, nor may it repay the Loan before scheduled. 3.3 During the term or any extended term of the Loan, the Loan will become immediately due and payable by Party B (or its inheritors, successors or assigns) in the manner stipulated in Article 4 hereof if: (1) Party B dies or becomes a person incapacitated or with limited capacity for civil acts; (2) Party B ceases to hold the position of director or senior officer of Party A or any of its affiliates, or leaves, or is dismissed by, Party A or any of its affiliates; (3) Party B commits or is involved in a crime; (4) any third-third party claims RMB five hundred thousand (¥500,000￥500,000) against Party B; (5) any of the representations or warranties made by Party B hereunder is proved to be untrue at the time it is made, or inaccurate in any material respect; or Party B breaches any of its obligations under this Agreement or any other agreement entered into with Party A, including without limitation the Equity Pledge Agreement (as defined below) and Exclusive Call Option Agreement (as defined below); (6) Party A exercises the exclusive call option under the Exclusive Call Option Agreement defined in Article 5.2 below; (7) this Agreement, the Equity Pledge Agreement, or the Exclusive Call Option Agreement is terminated or held invalid by any court for any reason whatsoever; or (8) Party A, at its sole discretion, sends a written notice to Party B at any time, requesting Party B to repay the Loan earlier than scheduled.

Term of Loan. 3.1 The term (a) All principal, interest and other sums due under the Loan Documents shall be due and payable in full on the earlier of (i) the Maturity Date; or (ii) the closing of the Loan hereunder shall commence from sale by Borrower of at least sixty-six percent (66%) of the date when Party B actually receives properties identified in the Loan CCP Acquisition Contract (the "Initial Maturity Date"). All references herein to the tenth Maturity Date shall mean Initial Maturity Date. However, subject to subsection (10thb) below, Borrower shall have the right to extend the Maturity Date for an additional six (6) month term (the "Extension Option"), thereby extending the Maturity Date to the six (6) month anniversary of the date hereof Initial Maturity Date (the “Term of Loan”"Extended Maturity Date"). 3.2 The Term of Loan will be automatically extended for another ten (10b) years Borrower may only exercise the Extension Option upon satisfying the expiry of the first ten-year term, and so forth thereafter for unlimited number of times, unless Party A sends a prior written notice to disapprove the extension of Term of Loan. Once Party A sends such notice, the Loan shall become mature at the end of the term, and Party B shall perform its repayment obligation in the manner stipulated in Article 4 below within thirty (30) days upon the maturity of the Loan. Party B has no right to decide on the extension of the term, nor may it repay the Loan before scheduled. 3.3 During the term or any extended term of the Loan, the Loan will become immediately due and payable by Party B (or its inheritors, successors or assigns) in the manner stipulated in Article 4 hereof iffollowing conditions: (1) Party B dies or becomes a person incapacitated or with limited capacity for civil acts;The closing of the sale of at least sixty-six percent (66%) of the properties identified in the CCP Acquisition Contract shall not have occurred. (2) Party B ceases Borrower shall have delivered to hold Lender written notice of such election no earlier than sixty (60) days and no later than thirty (30) prior to the position of director or senior officer of Party A or any of its affiliates, or leaves, or is dismissed by, Party A or any of its affiliatesInitial Maturity Date; (3) Party B commits Lender shall have received Borrower's and Guarantor's current financial statements, certified as correct by Borrower and Guarantor. There must be no material adverse change in Borrower's or Guarantor's financial condition. Borrower shall provide a certificate stating and demonstrating that it is involved in a crimecompliance with the financial covenants set forth in Section 8.1(c) and (d) of this Agreement; (4) any thirdBorrower shall pay to Lender on or before July 6, 2004, the Extension Fee, which shall be an amount equal to one-party claims RMB five hundred thousand eighth of one percent (¥500,0000.125% or 125 basis points) against Party B;of the Loan Amount; and (5) No Event of Default exists under the Loan Documents, nor any event which would be an Event of the representations or warranties made by Party B hereunder is proved to be untrue at Default if not cured within the time it is made, or inaccurate in any material respect; or Party B breaches any of its obligations under this Agreement or any other agreement entered into with Party A, including without limitation the Equity Pledge Agreement (as defined below) and Exclusive Call Option Agreement (as defined below); (6) Party A exercises the exclusive call option under the Exclusive Call Option Agreement defined in Article 5.2 below; (7) this Agreement, the Equity Pledge Agreement, or the Exclusive Call Option Agreement is terminated or held invalid by any court for any reason whatsoever; or (8) Party A, at its sole discretion, sends a written notice to Party B at any time, requesting Party B to repay the Loan earlier than scheduledallowed.

Term of Loan. 3.1 The term of the Loan hereunder shall commence from the date when Party B actually receives the Loan to the tenth (10th) anniversary of the date hereof (the “Term of Loan”). 3.2 The Term of Loan will be automatically extended for another ten (10) years upon the expiry of the first ten-year term, and so forth thereafter for unlimited number of times, unless Party A sends a prior written notice to disapprove the extension of Term of Loan. Once Party A sends such notice, the Loan shall become mature at the end of the term, and Party B shall perform its repayment obligation in the manner stipulated in Article 4 below within thirty (30) days upon the maturity of the Loan. Party B has no right to decide on the extension of the term, nor may it repay the Loan before scheduled. 3.3 During the term or any extended term of the Loan, the Loan will become immediately due and payable by Party B (or its inheritors, successors or assigns) in the manner stipulated in Article 4 hereof if: (1) Party B dies or becomes a person incapacitated or with limited capacity for civil acts; (2) Party B ceases to hold the position of director or senior officer of Party A or any of its affiliates, or leaves, or is dismissed by, Party A or any of its affiliates; (3) Party B commits or is involved in a crime; (4) any third-party claims RMB five hundred thousand (¥500,000￥500,000) against Party B; (5) any of the representations or warranties made by Party B hereunder is proved to be untrue at the time it is made, or inaccurate in any material respect; or Party B breaches any of its obligations under this Agreement or any other agreement entered into with Party A, including without limitation the Equity Pledge Agreement (as defined below) and Exclusive Call Option Agreement (as defined below); (6) Party A exercises the exclusive call option under the Exclusive Call Option Agreement defined in Article 5.2 below; (7) this Agreement, the Equity Pledge Agreement, or the Exclusive Call Option Agreement is terminated or held invalid by any court for any reason whatsoever; or (8) Party A, at its sole discretion, sends a written notice to Party B at any time, requesting Party B to repay the Loan earlier than scheduled.