Common use of Performance of Contract Clause in Contracts

Performance of Contract. (I) The Lender’s transfer of the loan to the account of the Borrower shall be deemed as the Lender’s performance of its obligation to issue the loan. (II) If the Lender recovers the principal and interest of the matured loan or recovers the principal and interest in advance as agreed, it may directly stop the payment of the Borrower’s account opened in any business institution of Zhejiang Xiaoshan Rural Commercial Bank Co., Ltd., and directly deduct the corresponding amount to repay the loan principal, interest and expenses.