Common use of Syndicate Relationship Clause in Contracts

Syndicate Relationship. 17.1 Each Financing Party hereby appoints the Agent Bank as its agent in connection with this Agreement, and authorizes the Agent Bank to exercise rights, power, discretion and all other reasonable affiliated rights expressly granted under this Agreement. Act conducted by the Agent Bank in connection with such appointment shall be binding upon each Financing Party, and the Financing Parties shall exercise its rights hereunder through the Agent Bank. 17.2 During the performance of this Agreement, each Financing Party shall have the rights and obligations in accordance with its share and percentage of the Loan Balance. Obligations of each Lender hereunder shall be independent. Each Lender shall assume liabilities to the Borrower separately for failure or partial failure of performance of the obligations hereunder, without imposing any liability to the Agent Bank and other Lenders, however, other obligations of the Agent Bank and other Lenders hereunder shall not be exempted. 17.3 The Agent Bank shall inform each ▇▇▇▇▇▇ and solicit opinions of each party in writing before it adopts the following resolutions, and shall act according to opinion of the Syndicate meeting: (1) Modify any Financing Documents or enter into any supplemental document with respect to Financing Documents; (2) Consent to exempt the Borrower’s Contribution; (3) Consent to increase the Credit Line; (4) Consent to extend the Borrower’s Drawdown Period; (5) Consent to appoint the Agent ▇▇▇▇’s successor according to provisions hereof; (6) If an Event of Default occurs, announce the cancellation of the loan that are not granted under the Credit Line; (7) If an Event of Default occurs, announce that all or part of the Loan Balance, together with its interest accrued, fees and other payment hereunder shall become due and payable in entirety or in part forthwith; (8) If the Borrower fails to or refuses to repay the loan, announce the realization of security interests or request guarantor to assume joint and several liability according to the guarantee contract; (9) Permit the Lenders to deduct the Borrower’s debt; (10) Announce that the Borrower breaches the contract and claim against the Borrower for liability of breaching the Financing Documents; (11) Decide to file a lawsuit; (12) Relevant matters to be determined by the Syndicate meeting as agreed in the Financing Documents. The Syndicate meeting shall be held in accordance with the provisions of the Interbank Agreements.

Syndicate Relationship. 17.1 Each Financing Party hereby appoints the Agent Bank as its agent in connection with this Agreement, and authorizes the Agent Bank to exercise rights, power, discretion and all other reasonable affiliated rights expressly granted under this Agreement. Act conducted by the Agent Bank in connection with such appointment shall be binding upon each Financing Party, and the Financing Parties shall exercise its rights hereunder through the Agent Bank. 17.2 During the performance of this Agreement, each Financing Party shall have the rights and obligations in accordance with its share and percentage of the Loan Balance. Obligations of each Lender hereunder shall be independent. Each Lender shall assume liabilities to the Borrower separately for failure or partial failure of performance of the obligations hereunder, without imposing any liability to the Agent Bank and other Lenders, however, other obligations of the Agent Bank and other Lenders hereunder shall not be exempted. 17.3 The Agent Bank shall inform each ▇▇▇▇▇▇ Lender and solicit opinions of each party in writing before it adopts the following resolutions, and shall act according to opinion of the Syndicate meeting: (1) Modify any Financing Documents or enter into any supplemental document with respect to Financing Documents; (2) Consent to exempt the Borrower’s Contribution; (3) Consent to increase the Credit Line; (4) Consent to extend the Borrower’s Drawdown Period; (5) Consent to appoint the Agent ▇▇▇▇Bank’s successor according to provisions hereof; (6) If an Event of Default occurs, announce the cancellation of the loan that are not granted under the Credit Line; (7) If an Event of Default occurs, announce that all or part of the Loan Balance, together with its interest accrued, fees and other payment hereunder shall become due and payable in entirety or in part forthwith; (8) If the Borrower fails to or refuses to repay the loan, announce the realization of security interests or request guarantor to assume joint and several liability according to the guarantee contract; (9) Permit the Lenders to deduct the Borrower’s debt; (10) Announce that the Borrower breaches the contract and claim against the Borrower for liability of breaching the Financing Documents; (11) Decide to file a lawsuit; (12) Relevant matters to be determined by the Syndicate meeting as agreed in the Financing Documents. The Syndicate meeting shall be held in accordance with the provisions of the Interbank Agreements.