Common use of Use of Loan Clause in Contracts

Use of Loan. 3.1 The borrower shall use the long-term loan for purchasing 1.5% of shares of ICP Company and any other application of this long-term loan shall obtain earlier written consent from Sina Company. 3.2 During the life of loan, the borrower shall neither transfer partial or all its shares of ICP Company to any third party nor set any security against such shares without prior approval given by Sina Company in written form.

Appears in 2 contracts

Samples: Loan Agreement (Sina Corp), Loan Agreement (Sina Corp)

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Use of Loan. 3.1 The borrower shall use the long-term loan for purchasing 1.522.5% of shares of ICP Company and any other application of this long-term loan shall obtain earlier written consent from Sina Company. 3.2 During the life of loan, the borrower shall neither transfer partial or all its shares of ICP Company to any third party nor set any security against such shares without prior approval given by Sina Company in written form.

Appears in 2 contracts

Samples: Loan Agreement (Sina Corp), Loan Agreement (Sina Corp)

Use of Loan. 3.1 The borrower shall use the long-term loan for purchasing 1.526.75% of shares of ICP Company and any other application of this long-term loan shall obtain earlier written consent from Sina Company. 3.2 During the life of loan, the borrower shall neither transfer partial or all its shares of ICP Company to any third party nor set any security against such shares without prior approval given by Sina Company in written form.

Appears in 2 contracts

Samples: Loan Agreement (Sina Corp), Loan Agreement (Sina Corp)

Use of Loan. 3.1 The borrower shall use the long-term loan for purchasing 1.520% of shares of ICP IAD Company and any other application of this long-term loan shall obtain earlier written consent from Sina Company. 3.2 During the life of loan, the borrower shall neither transfer partial or all its shares of ICP IAD Company to any third party nor set any security against such shares without prior approval given by Sina Company in written form.

Appears in 2 contracts

Samples: Loan Agreement (Sina Corp), Loan Agreement (Sina Corp)

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Use of Loan. 3.1 The borrower shall use the long-term loan for purchasing 1.545% of shares of ICP Company Xunlong and any other application of this long-term loan shall obtain earlier written consent from Sina Company. 3.2 During the life of loan, the borrower shall neither transfer partial or all its shares of ICP Company Xunlong to any third party nor set any security against such shares without prior approval given by Sina Company in written form.

Appears in 1 contract

Samples: Loan Agreement (Sina Corp)

Use of Loan. 3.1 The borrower shall use the long-term loan for purchasing 1.530% of shares of ICP Company Xunlong and any other application of this long-term loan shall obtain earlier written consent from Sina Company. 3.2 During the life of loan, the borrower shall neither transfer partial or all its shares of ICP Company Xunlong to any third party nor set any security against such shares without prior approval given by Sina Company in written form.

Appears in 1 contract

Samples: Loan Agreement (Sina Corp)

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