Common use of Grounds for contract termination Clause in Contracts

Grounds for contract termination. 6.1. The Lender has right to terminate the agreement and all relevant contracts and require from the borrower immediate repayment of the liabilities in case if: 6.1.1. The Borrower or any third parties involved in loan provisioning agreements or their legal representatives violate responsibilities taken towards the lender; 6.1.2. Financial position of the Borrower (or guarantor) deteriorates and will endanger due and proper execution of the responsibilities; 6.1.3. The Borrower provides wrong and false information to the lender; 6.1.4. Items presented as loan provision get destroyed, damaged or decrease in value. 6.1.5. The loan is not used for due purpose by the Borrower; 6.1.6. Equity of the Borrower sharply goes down; 6.1.7. The case indicated in point 5.7 occurs;