Debit. In the event the Guarantor does not fulfill the guarantee obligation in accordance with the contract, the Guarantor authorizes the Lender to debit the corresponding amount from all accounts the Guarantor opened with Industrial and Commercial Bank of China and its branches. If the Lender debits the Guarantor’s time deposit, such debit shall be exercised in accordance with Article 12.
Appears in 3 contracts
Sources: Loan/Security Contract (China BCT Pharmacy Group, Inc.), Loan/Security Contract (China BCT Pharmacy Group, Inc.), Loan/Security Contract (CHINA BAICAOTANG MEDICINE LTD)