Common use of Drawing conditions Clause in Contracts

Drawing conditions. The loan under this Contract shall be withdrawn according to the actual use of the Borrower. The Borrower shall meet the following conditions at each withdrawal: 1) The Borrower shall submit a written loan disbursement application to the Lender; 2) The Borrower does not encounter the circumstances outlined in Paragraphs 4 and 5 of Article 5, or Article 8, and does not breach the covenants set forth in Article 7; 3) Upon the reasonable judgment of the Lender, there is no financial condition without any adverse change that may endanger, delay or prevent it from performing its obligations and responsibilities hereunder; 4) The Borrower shall use the withdrawn borrowed funds in accordance with the purposes agreed herein; 5) The guarantee shall remain valid, and the value of the security and / or the guarantee ability of the guarantor shall not have adverse changes that will affect the liability of the guarantor to assume the guarantee; 6) The Borrower has opened the relevant account as agreed herein or required by the Lender; 7) Other conditions required by the Lender are detailed in Paragraph 5 of Article 16 of this Contract.