Common use of Repayment Order Clause in Contracts

Repayment Order. 3.4.4.1 The Repayment Order is as follows unless otherwise provided by the parties: (1) The money shall be used to repay the Loan where the Borrower specifies that; (2) The Lender is authorized to determine Repayment Order and amount where the Borrower does not specify that and there are several matured debts which cannot be settled; (3) The Lender is authorized to determine the offset amount and offset order where the Lender exercises the right of set-off in accordance with the laws and regulations and the Contract; The Lender is authorized to determine the offset amount and offset order where the Lender exercises the right of subrogation in accordance with the laws and regulations and the Contract. 3.4.4.2 The Lender is authorized to choose the money to repay the principal, the interest, Penalty Interest, Compound Interest or the relevant fees to collect the Loan.