Common use of Entrusted payment Clause in Contracts

Entrusted payment. (I) When conducting entrusted payment, Party A shall open or designate dedicated account in Party B for conducting matters regarding entrusted payment. (II) When conducting entrusted payment, upon every drawdown, Party A shall provide Party B its loan account and account of payee and supporting documents proving that such drawdown is conforming to the purpose as agreed. Party A shall undertake that all materials provided to Party B are true, complete and effective. (III) When conducting entrusted payment, Party B only examines and verifies relevant materials such as payee information, supporting document of financing purpose etc. provided by Party A, where Party B’s failure in completing entrusted payment is due to the relevant materials provided by Party A are untrue, inaccurate or incomplete, Party B shall not assume any responsibility therefor. (IV) Where Party B finds any inconsistency or other defects in purpose supporting documents provided by Party A per examination and approval, Party B is entitled to ask Party A for supplement, replacement, explanation or submission of relevant materials again. Before Party A’s submission of materials satisfactory to Party B, Party B is entitled to reject the advance and payment of relevant amounts. (V) In accordance with different financing purposes of Party A, Party B is entitled to ask Party A, independent agency institution and other related party to issue relevant supporting documents such as joint certificate etc., Party B will advance and pay the financing amount based on such supporting documents. (VI) Per examination and approval, if Party B thinks the materials provided by Party A are consistent with the agreed financing purpose and the drawdown meets the precedent conditions as agreed in the Financing Contract, Party B will firstly remit the financing amount into the account designated by Party A, and then remit the corresponding amount into the account of payee of Party A based on the needs and relevant vouchers submitted by Party A. (VII) Provided any one of the following situations, Party B is entitled to re-determine the condition of financing advance and payment, or cease the advance and payment of financing amount: 1. Party A provides Party B false or invalid materials to acquire financing; 2. Party A occurs significant adverse change in production and operation, downgrade of credit status or default situation under the Financing Contract; 3. Where financing amount is used to invest in fixed asset, the project progress falls behind the fund use progress; 4. Party A fails to draw down and pay the financing amount as agreed in the Financing Contract, causing abnormal use of financing amount; 5. Party A violates the agreement hereunder and under the Financing Contract, and evades the entrusted payment through breaking up the whole into parts; 6. The loan account or account of payee designated by Party A has been frozen or stopped payment by the competent authority.

Entrusted payment. (I1) When conducting handling the entrusted payment, Party A shall open or designate dedicated a special account in at Party B for conducting matters regarding to handle the entrusted paymentpayment matters. (II2) When conducting handling the entrusted payment, upon every drawdown, Party A shall provide Party B with the information of its loan account and payment object account and each withdrawal of payee and the supporting documents proving materials that such drawdown is conforming the withdrawal conforms to the purpose as agreedagreed purpose. Party A shall undertake guarantee that all the materials provided to Party B are true, complete and effectivevalid. (III3) When conducting handling the entrusted payment, Party B shall only examines provide the information of the payment object and verifies relevant materials such as payee information, supporting document of the financing purpose etcsupporting materials provided by Party A Party B shall review the materials. If Party B fails to complete the entrusted payment in time due to the untrue, inaccurate and incomplete information provided by Party A, where Party B’s failure in completing entrusted payment is due to the relevant materials provided by Party A are untrue, inaccurate or incomplete, Party B shall not assume bear any responsibility thereforresponsibility. (IV4) Where Party B finds any inconsistency or other defects in purpose supporting documents the use certification materials provided by Party A per examination and approvalA, Party B is entitled etc Right to ask require Party A for to supplement, replacementreplace, explanation explain or submission of resubmit relevant materials again. Before before Party A’s submission of A submits the materials satisfactory to Party B, Party B is entitled Have the right to reject refuse the advance payment and payment of the relevant amountsfunds. (V5) In accordance with According to the different financing purposes of Party A, Party B is entitled shall have the right to ask request Party A, the independent intermediary agency institution and other related party relevant parties to issue relevant supporting documents such as joint certificate etc., a total Party B will advance shall issue and pay the financing amount based on such funds with the visa form and other relevant supporting documentsmaterials. (VI6) Per examination and approvalAfter examination, if Party B thinks considers that the materials information provided by Party A are is consistent with the agreed financing purpose and the drawdown meets the precedent conditions as agreed in the Financing Contract, Party B will firstly remit withdrawal complies with the financing amount into contract For the specified preconditions, the financing funds shall be transferred to the account designated by Party AA first, and then remit the corresponding amount into funds shall be transferred to the payment object account of payee of Party A based on according to the needs and the relevant business vouchers submitted by Party A. (VII7) Provided In any one of the following situationscircumstances, Party B is entitled shall have the right to re-determine redetermine the condition of financing advance issuance and paymentpayment conditions, or cease stop the advance and payment of financing amountpayment: 1. Party A provides Party B false or invalid materials information to acquire Party B to obtain financing; 2. Party A occurs significant has suffered major adverse change changes in production and operation, downgrade of declining credit status or default situation under the Financing Contractfinancing contract; 3. Where If the financing amount fund is used to invest in for fixed assetassets investment, the project progress falls lags behind the fund use progressprogress of funds; 4. Party A fails to draw down withdraw and pay the financing amount as agreed funds in accordance with the Financing Contractfinancing contract, causing abnormal and the use of the financing amountfunds is abnormal; 5. Party A violates this Agreement and the agreement hereunder and under the Financing Contractfinancing contract or relevant regulatory provisions, and evades avoids the entrusted payment through breaking up the whole by turning it down into partspieces; 6. The loan account or payment object account of payee designated by Party A has been shall be frozen or stopped payment by the competent authorized authority.

Entrusted payment. (I1) When conducting entrusted payment, Party A shall open or designate an account with Party B, which will be dedicated account in Party B for conducting matters regarding the entrusted payment. (II2) When conducting In relation to entrusted payment, Party A shall, upon every each drawdown, Party A shall provide Party B with information of its loan own designated account to receive the financing and payee’s account and account of payee and relevant supporting documents proving to prove that such drawdown is conforming to for the purpose as agreedagreed purpose. Party A shall undertake warrants that all materials information provided to Party B are is true, complete and effective. (III3) When conducting In relation to entrusted payment, Party B will only examines carry out a pro forma review on information provided by Party A including information on payees and verifies relevant materials such as payee supporting documents evidencing purpose of financing. Party B is not liable for its failure to promptly complete entrusted payment due to the fact that any information provided by Party A is untrue, inaccurate and incomplete. (4) If Party B finds that the information provided by Party A including supporting documents to prove purpose of financing is inconsistent with each other or has other defects, Party B may require Party A to provide supplemental information, or replace, explain on or re-submit relevant information. Party B may refuse to advance or pay relevant amount until Party A provides relevant information to the satisfaction of Party B. (5) According to Party A's purpose of financing, Party B may require relevant supporting document of financing purpose etc. provided documents including a jointly-signed certificate to be issued by Party A, where Party B’s failure in completing entrusted payment is due to the relevant materials provided by Party A are untrue, inaccurate or incomplete, Party B shall not assume any responsibility therefor. (IV) Where Party B finds any inconsistency or other defects in purpose supporting documents provided by Party A per examination and approval, Party B is entitled to ask Party A for supplement, replacement, explanation or submission of relevant materials again. Before Party A’s submission of materials satisfactory to Party B, Party B is entitled to reject the advance and payment of relevant amounts. (V) In accordance with different financing purposes of Party A, Party B is entitled to ask Party A, an independent agency institution intermediary and other related party to issue relevant supporting documents such as joint certificate etc.parties, and Party B will advance and pay the relevant financing amount based on upon provision of such supporting documents. (VI6) Per examination and approval, if If Party B thinks finds that the materials information provided by Party A are is consistent with the agreed purpose of financing purpose and the all conditions precedent to drawdown meets the precedent conditions as agreed in under the Financing ContractContract have been satisfied, Party B will firstly shall first remit the financing amount into the an account designated by Party A, A and then remit transfer relevant amount to the corresponding amount into the account of payee accounts of Party A based on the needs A's payees as required and in accordance with relevant business vouchers submitted provided by Party A. (VII7) Provided any one of the following situations, Party B is entitled may decide to re-determine adjust the condition of financing advance and payment, or cease the conditions for advance and payment of financing, or cease to advance and pay the financing amountproceeds, upon occurrence of any of the following events: 1. Party A provides Party B with false or invalid materials information to acquire obtain financing; 2. Party A occurs significant there is any material adverse change or deterioration of credit condition in Party A's production and operation, downgrade of credit status or any default situation under the Financing Contract; 3. Where the proceeds of financing amount is used are to invest be invested in fixed assetassets, the progress of the project progress falls behind the fund use progressexpenditure of such proceeds; 4. Party A fails to draw down and pay or use the financing amount as agreed in accordance with the Financing Contract, causing abnormal or there is any irregularity in use of financing amountproceeds of financing; 5. Party A violates the agreement hereunder and under breaches relevant provisions of this Agreement and/or the Financing Contract, and evades the Contract or relevant regulatory provisions by circumventing entrusted payment through breaking up the whole arrangement by dividing one drawdown into parts;multiple drawdowns of smaller amount; or 6. The loan account or account of payee designated by Party A has been to receive the financing or the account of Party A's payee is frozen or stopped payment suspended by the competent authorityauthorities.

Entrusted payment. (I1) When conducting handling the entrusted payment, Party A shall open or designate dedicated a special account in at Party B for conducting matters regarding to handle the entrusted paymentpayment matters. (II2) When conducting handling the entrusted payment, upon every drawdown, Party A shall provide Party B with the information of its loan account and payment object account and each withdrawal of payee and the supporting documents proving materials that such drawdown is conforming the withdrawal conforms to the purpose as agreed. Party agreed ▇▇▇▇▇▇▇.▇▇▇▇▇ A shall undertake guarantee that all the materials provided to Party B are true, complete and effectivevalid. (III3) When conducting handling the entrusted payment, Party B shall only examines provide the information of the payment object and verifies relevant materials such as payee information, supporting document of the financing purpose etcsupporting materials provided by Party A Party B shall review the materials. If Party B fails to complete the entrusted payment in time due to the untrue, inaccurate and incomplete information provided by Party A, where Party B’s failure in completing entrusted payment is due to the relevant materials provided by Party A are untrue, inaccurate or incomplete, Party B shall not assume bear any responsibility thereforresponsibility. (IV4) Where Party B finds any inconsistency or other defects in purpose supporting documents the use certification materials provided by Party A per examination and approvalA, Party B is entitled etc Right to ask require Party A for to supplement, replacementreplace, explanation explain or submission of resubmit relevant materials again. Before before Party A’s submission of A submits the materials satisfactory to Party B, Party B is entitled Have the right to reject refuse the advance payment and payment of the relevant amountsfunds. (V5) In accordance with According to the different financing purposes of Party A, Party B is entitled shall have the right to ask request Party A, the independent intermediary agency institution and other related party relevant parties to issue relevant supporting documents such as joint certificate etc., a total Party B will advance shall issue and pay the financing amount based on such funds with the visa form and other relevant supporting documentsmaterials. (VI6) Per examination and approvalAfter examination, if Party B thinks considers that the materials information provided by Party A are is consistent with the agreed financing purpose and the drawdown meets the precedent conditions as agreed in the Financing Contract, Party B will firstly remit withdrawal complies with the financing amount into contract For the specified preconditions, the financing funds shall be transferred to the account designated by Party AA first, and then remit the corresponding amount into funds shall be transferred to the payment object account of payee of Party A based on according to the needs and the relevant business vouchers submitted by Party A. (VII7) Provided In any one of the following situationscircumstances, Party B is entitled shall have the right to re-determine redetermine the condition of financing advance issuance and paymentpayment conditions, or cease stop the advance and payment of financing amountpayment: 1. Party A provides Party B false or invalid materials information to acquire Party B to obtain financing; 2. Party A occurs significant has suffered major adverse change changes in production and operation, downgrade of declining credit status or default situation under the Financing Contractfinancing contract; 3. Where If the financing amount fund is used to invest in for fixed assetassets investment, the project progress falls lags behind the fund use progressprogress of funds; 4. Party A fails to draw down withdraw and pay the financing amount as agreed funds in accordance with the Financing Contractfinancing contract, causing abnormal and the use of the financing amountfunds is abnormal; 5. Party A violates this Agreement and the agreement hereunder and under the Financing Contractfinancing contract or relevant regulatory provisions, and evades avoids the entrusted payment through breaking up the whole by turning it down into partspieces; 6. The loan account or payment object account of payee designated by Party A has been shall be frozen or stopped payment by the competent authorized authority.