Common use of Violation of Loan Purpose Clause in Contracts

Violation of Loan Purpose. If the Borrower uses the Loan for any purpose other than that stipulated in this Contract, it shall assume all the risks and liabilities incurred thereby with respect to repayment the Loan, and shall automatically use its assets as Collateral, and the Lender shall be entitled to stop the Loan, collect all or part of the extended Loan and calculate and collect the interest on the Loan, and no early withdrawal fee shall occur to the Lender. The corporate officers of the Borrower hereby issue their personal guarantees to the Lender for repayment of the Loan plus all accrued interest in full.

Violation of Loan Purpose. If the Borrower uses the Loan for any purpose other than that stipulated in this Contract, it the Borrower shall assume all the risks and liabilities incurred thereby with respect to repayment of the Loan, and shall automatically use its assets as the Collateral, and the Lender shall be entitled to stop the Loan, collect all or part of the extended Loan Loan, and calculate and collect the interest Interest on the Loan, and no early withdrawal fee Early Withdrawal Fee or Early Withdrawal Discount shall occur to the Lender. The corporate officers of the Borrower hereby issue their personal guarantees apply to the Lender for repayment of the Loan plus all accrued interest in fullthis case.