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  ARTICLE 13 EVENTS OF BREACH CONTRACT AND SETTLEMENT:

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  I. Settlement of the Borrower breach of contract

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  1. Event of breach of contract: (来源:英语麦当劳-英语快餐EnglishCN.com)

  (1) The Borrower fails to use the loan in accordance with the agreed usage of the Loan;

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  (2) The Borrower fails to repay the due principal and pay the interests, expenses or other payable in accordance with the agreed term of this contract; (来源:最老牌的英语学习网站 http://www.EnglishCN.com)

  (3) The Borrower breaches the representation and warrants set forth in Article 11. (来源:英语麦当劳-英语学习门户 http://www.EnglishCN.com)

  (4) The Borrower breaches other loan agreements or guaranty agreements or the Guarantor breach the guaranty agreement which may make impact the Borrower to perform the obligations under this contract. (来源:英语麦当劳-英语学习门户 http://www.EnglishCN.com)

  (5) Conclusive evidence to show that the Borrower lose the capacity of credit or during performance of the obligation under this contract, the financial conditions of the Guarantor are seriously deteriorating or other reasons caused the Guarantor the capacity of credit decline.

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  (6) The Borrower breaches the other obligations under this contract. (来源:EnglishCN英语博客基地)

  2. Under the above circumstances, the Lender shall have right to: (来源:英语麦当劳 http://www.EnglishCN.com)

  (1) Request the Borrower to rectify within the period designed by the Lender; (来源:最老牌的英语学习网站 http://www.EnglishCN.com)

  (2) Cease in extending the loan or cancel the credit; (来源:专业英语学习网站 http://www.EnglishCN.com)

  (3) Declare the loan under this contract is due and the Lender shall have right to deduct the outstanding amount from the account of the Borrower. The Borrower shall not appeal against the Lender. (来源:英语学习门户网站EnglishCN.com)

  (4) Declare the loan is due under other loan agreements between the Lender and the Borrower, request the Borrower to repay the loan principals, interests, and other expenses. (来源:英语麦当劳-英语学习门户 http://www.EnglishCN.com)

  II. The settlement for the Lender breach of the contract (来源:英语论坛 http://bbs.englishcn.com)

  1. The Lender fails to extend the loan as agreed in this contract without any reasons; (来源:英语论坛 http://bbs.englishcn.com)

  2. The Lender breaches the agreed interest rate and collection add interests or other fees;

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  3. The Lender breaches the provisions set forth in Article 12; (来源:英语聊天室 http://chat.EnglishCN.com)

  4. Under the above circumstances, the Borrower shall have right to: (来源:英语聊天室 http://chat.EnglishCN.com)

  (1) Request the Lender to rectify; (来源:英语聊天室 http://chat.EnglishCN.com)

  (2) Repay the loan ahead of time and refuse to pay any compensation for prepayment.

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  ARTICLE 14 DEDUCTION (来源:EnglishCN英语问答中心[e问e答])

  The Borrower shall pay in full for the payment without any counteraction or any condition. (来源:EnglishCN英语博客基地)

  ARTICLE 15 ASSIGNMENT OF THE DEBT AND CREDIT

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  1. The Borrower shall not assign its right and liability under this contract to other third party without any written approval of the Lender;

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  2. In the event the Borrower assign its right and liability under this contract to other third party under the written consent of the Lender, the third party shall abide this contract without any condition. (来源:英语聊天室 http://chat.EnglishCN.com)

  ARTICLE 16 PERFORMANCE OF OBLIGATION AND WAIVER OF RIGHTS (来源:专业英语学习网站 http://www.EnglishCN.com)

  1. The Borrower is independent contractor under this contract,it will not impact by any other relations between the Borrower with other party except the other provisions set forth in this contract.

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  2. The Lender give any extension, toleration, favor to the Borrower or permit the Borrower to delay of performance any obligation under this contract shall not impair any rights of the Lender in accordance with this contract and laws, regulation, it shall be deemed to have waived its rights under this contract and the obligation shall be performed by the Borrower under this contract.

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  ARTICLE 17 AMENDMENT, SUPPLEMENT AND INTERPRETATION OF THE CONTRACT (来源:英语交友 http://friends.englishcn.com)

  1. This contract could be amended and supplemented upon the written agreements conclude by the parties. Any a amendment and supplement shall be integral party of this contract. (来源:英语学习门户网站EnglishCN.com)

  2. In the event change of laws, regulations or legal practice which will cause any terms contained in this Contract become illegal, invalid or loss of practice, the other part of this contract shall not be impaired by it. The both parties shall make efforts to change the illegal, invalid or loss of practice part. (来源:英语麦当劳-英语杂志 http://www.EnglishCN.com)

  3. For the matters not referred in this contract shall be construed in accordance with the provisions of the Peoples Bank of China.

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  ARTICLE 18 DISPUTE RESOLUTION, GOVERNING LAW AND WAIVER OF EXEMPTION

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  1. The conclusion, interpretation and dispute resolution shall be subject to the Laws of the Peoples Republic of Chin. The disputes arising from the execution of this contract shall be settled through friendly consultation by both parties. In case no settlement can be reached, the disputes shall be submitted to the Peoples Court of the location of the Lender for judgment. (来源:英语麦当劳 http://www.EnglishCN.com)

  2. The Borrower shall not reject any obligation during the settlement of disputes.

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  3. The execution and performance of this contract and the related transaction is civil behavior. The Borrower shall not appeal to take action to exempt from the obligation under this contract. (来源:英语麦当劳-英语学习门户 http://www.EnglishCN.com)

  (if both parties agree to apply arbitration, the above term shall be:)

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