Common use of Loan Usage Clause in Contracts

Loan Usage. Article 1 The borrower and the lender agree: 1. The loan shall be only used for working capital/cash flow. 2. Without written consent from the lending bank, the borrower shall not use the loan for different usage. Chapter 3 Currency, Amount, Term, Transferring Method Article 2 The currency of the loan is Chinese Yuan. The amount of the loan is 2,400,000.00. Article 3 The term of the loan is 1 year, from July 12, 2010 to July 7, 2011. Article 4 When the Article 11 is fulfilled, the lending bank shall transfer the total amount of the loan to the borrower’s account by single transaction by August 11, 2010.

Loan Usage. Article 1 The borrower and the lender agree: 1. The loan shall be only used for working capital/cash flow. 2. Without written consent from the lending bank, the borrower shall not use the loan for different usage. Chapter 3 Currency, Amount, Term, Transferring Method Article 2 The currency of the loan is Chinese Yuan. The amount of the loan is 2,400,000.001,900,000.00. Article 3 The term of the loan is 1 year, from July 12March 15, 2010 to July 7March 8, 2011. Article 4 When the Article 11 is fulfilled, the lending bank shall transfer the total amount of the loan to the borrower’s 's account by single transaction by August 11March 19, 2010.