Common use of REDUCTION AND SUSPENSION Clause in Contracts

REDUCTION AND SUSPENSION. 1. In the case of a line transaction or an installment loan, the bank may decide to reduce the loan (line) amount in Article 1 through notice or temporarily stop the loan execution regardless of the transaction period due to sudden changes in national economy and financial state or significant deterioration of personal credit state of the loanee. In this event the loanee shall pay any amount exceeding the line due to the reduction.

REDUCTION AND SUSPENSION. 1. In the case of a line limit transaction or an installment loan, the bank may decide to reduce the loan (line) amount in Article 1 through notice or temporarily stop the loan execution regardless of the transaction period due to sudden changes in national economy and financial state or significant deterioration of personal credit state of the loaneedebtor. In this event the loanee debtor shall pay any amount exceeding the line due to the reduction.