Common use of Term of Loan Clause in Contracts

Term of Loan. The term of the Loan is ten years from the date of grant of the Loan. If the Borrower remains unable to pay the Loan as per the terms set forth in Paragraph 4 of Article I hereof on expiration of the term of the Loan due to restrictions of applicable laws, the term of the Loan shall be automatically extended until applicable laws permit and the Lender agrees to accept the Borrower’s payment of the Loan as per the terms stipulated in Paragraph 4 of Article I hereof. The Borrower shall not request early payment of the Loan unless as per the provisions in Paragraph 5 of Article I hereof.

Appears in 10 contracts

Samples: Loan Agreement (Sohu.com LTD), Loan Agreement (Sogou Inc.), Loan Agreement (Sogou Inc.)

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