Entrustment Loan definition

Entrustment Loan means a loan that shall be disbursed by the Lender (i.e., the Entrustee) for and on behalf of the Entrustor to a specific person, for specific purposes, in a specific amount, for a specific tenor and at a specific interest rate determined by the Entrustor from the funds provided by the Entrustor to the Lender, and shall be recovered with the assistance of the Lender. In connection with each Entrustment Loan, the Lender shall receive the charges only and not take any risks in any form.

Entrustment Loan means the loan under which the Entrusting Party provides funds to the Lender (the Entrusted Party) to disburse on its behalf to such borrower for such usage and in such amount, term and interest rate as determined by the Entrusting Party and the Lender will assist in collecting back such loan. The Lender only charges a commission without assuming any lending risk which includes without limitation the risk that there is any material change or adverse development with the operation of the borrower, the loan is misused, or the measure taken to call back loan is not appropriate. The Entrusting Party may not require the Entrusted Party to bear any legal or economic liability by asserting that, among others, the Entrusted Party fails to supervise appropriately or fails to provide an overdue notice or other matters.

Entrustment Loan means any loan made by any bank or financial institution to any person (the “Entrustment Debtor”), where:

Examples of Entrustment Loan in a sentence

• The Borrower shall submit written application for extension to the Lender thirty Workdays prior to the expiration of the Entrustment Loan, provided that the application shall be approved by the Entrustor and the surety in writing.

• The Borrower may request for extension of the tenor upon the expiration of the Entrustment Loan.

• The Entrustor shall review the conditions for disbursement of the Entrustment Loan.

• If the Borrower fails to repay any principal of the Loan or any interest accrued thereon as agreed under this Agreement, the Entrustor shall assume any Loan Risks in relation to the Entrustment Loan, and shall not require the Lender to assume any liability for reasons that the Lender fails to perform appropriate supervision, fails to promptly notify the Entrustor of any delay in repayment or any other reasons.

• The Borrower shall repay the principal of the Entrustment Loan and interest accrued thereon in the same currency as that of the Borrowing, unless otherwise agreed by the Entrustor and the Borrower.

• The Entrustor shall be responsible for the collection of the Entrustment Loan, inspection of the use of the Entrustment Loan, understanding the operating activities and financial condition of the Borrower as well as any disputes and security in relation to any indebtedness of the Borrower.

• The Borrower hereby irrevocably authorizes the Lender to debit from the bank account of the Borrower for repayment of the principal of the Entrustment Loan and the interest accrued thereon.

• The funds for Entrustment Loan shall be obtained from legitimate sources and may not be credit-extending fund obtained from the Lender; otherwise the Entrustor shall bear legal liability correspondingly.

• If the Entrustor approves the extension, the Lender shall enter into a supplemental agreement for the extension of the Entrustment Loan with the Borrower, the Entrustor and the surety.

• The commission for the Entrustment Loan shall be paid by the Entrusting Party on a lump-sum basis before draw-down of the loan.

More Definitions of Entrustment Loan

Entrustment Loan the entrustment loan of RMB30,000,000 provided by China Merchants Bank to Kunming Generator at the request of Harbin Generator in accordance with the Entrustment Agreement and the Loan Agreement;

Entrustment Loan means the loan with a principal amount of

Entrustment Loan means the loan with a principal amount of RMB25,000,000 as at