Common use of Term of Loan Clause in Contracts

Term of Loan. 2.1. The term of such loan starts from the date when Party B receives the first payment of loan from Party A, until ten (10) years after signing this Agreement and could be extended upon the written confirmation by Party A and the extended period shall be determined by Party A. 2.2. During the term or extended term of such a loan, Party A may accelerate the loan repayment in written notice, if any of the following events occurs: (1) Party B dies or becomes a person without capacity or with limited capacity for civil acts; (2) Party B commits a crime or is involved in a crime; (3) Any other third party claims more than RMB100,000 against Party B; (4) Any statement or warranties made by Party B under this Agreement is untrue or in accurate in any material aspects; or Party B breaches the obligations under this Agreement; or (5) Party A has a written notice to Domestic Company and exercised its right of purchase in accordance with the terms of Equity Interest Purchase Agreement (“Purchase Agreement”).