Loan Releasing Sample Clauses

Loan Releasing. In the event that the Borrower meets the pre-conditions of releasing loan requested by the Lender, the Lender shall release the loan as the following items: (1) The Borrower has delivered the following documents to the Lender, the situation demonstrated by the documents has no change and continues to validate; or the Borrower has made the Lender satisfactory explanation and statement about the change: 1) The Borrower’s company charters confirmed in written by the Borrower, business license, the signature sample of legal representatives and the members of the director board as the registration and record in the administrative department for industry and commerce, the Borrower’s property assessment report, and the ID card copies of the legal representatives, and other company documents that the Lender deemed necessary. 2) The original copy of the meeting of the board of directors or the shareholders held by the Borrower according to legal procedures, and passed by the votes of a quorum of the directors or shareholders, true, legitimate and effective agreement about applying for the loan hereof to the Lender and announcing the use of the loan clearly and accepting the all the borrowed conditions required by the Lender; or other documents that the Lender deemed necessary. 3) The recent three years’ audited annual financial reports and statements approved by the Lender; or other financial documents that the Lender deemed necessary. 4) If the loan items under the contract in accordance with national regulations or requirements need to be applied for approval, the Lender has provided the true and effective original documents approved by the relevant national authorities for the Lender; 5) If there is a third party to guarantee, the company charters confirmed in written by the guarantor; business license; the signature sample of legal representatives and the members of the director board as the registration and record in the administrative department for industry and commerce; and the true, legal, and effective resolution made by the authoritative agent about agreeing with the guaranteeing for the loan hereof; and other company documents that the Lender deemed necessary. 6) Other documents, reports, certificates and data required by the Lender. (2) The Lender has filled with the relevant promissory note or loan certificate. The promissory note or loan certificate is an integral part of this contract, and both of them have the same legal validity. If the loan amoun...