Common use of Notarization Clause Clause in Contracts

Notarization Clause. If all parties to this Contract have reached a consensus through negotiation to handle the notarization procedures that give this contract compulsory execution effect, then: 11.1 The parties jointly acknowledge that they have fully and clearly understood the meaning, content, procedure, effect, legal consequences, etc. of the enforcement notarization in accordance with the relevant laws and regulations without any objection. After careful consideration, it has been decided that within 5 working days from the date of signing this contract, they voluntarily applies to the notary office for the compulsory execution of notarization procedures for this Contract. 11.2 The Borrower promises that, if the Borrower fails to fulfill the repayment obligation of the Lender under the Master Contract on schedule as agreed in the Master Contract (including the situation that the Lender takes back the loan in advance), the Lender has the right to unilaterally apply to the notary organization for issuing the Execution Certificate and apply to the People’s Court for compulsory execution. without the need for legal proceedings. The Borrower undertakes to voluntarily waive the right of action and the right of defense, and voluntarily accept the compulsory execution of the People’s Court with jurisdiction.