Common use of Early Termination of the Contract Clause in Contracts

Early Termination of the Contract. Under any of the following circumstances, all financing debts of Party B under the asset pool shall be deemed due in advance, and Party A has the right to terminate the Asset Pool Financing business with Party B immediately on the date on which it discovers such circumstance. (1) Party B breaches any obligation hereunder or Party B expressly states or indicates by its conduct that it will not perform its obligations hereunder. (2) Party B provides false information or conceals important facts about its business and financial condition, and obtains funds or credit lines from Party A or other banks by pledging notes receivable or accounts receivable that are not backed by genuine trade transactions, or other assets of right that are illegally acquired. (3) Party B is, or may be, subject to administrative or criminal sanctions or is under investigation by the competent authority due to illegal business operations. (4) Party B is liquidated, canceled, declared bankrupt, or dissolved. (5) Party B refuses to accept supervision and inspection by Party A on the use of credit funds and related business and financial activities. (6) Party B falls under any other circumstance which may subject Party A to credit risk.

Early Termination of the Contract. Under any of the following circumstances, all financing debts of Party B under the asset pool Asset Pool shall be deemed due in advance, and Party A has the right to terminate the Asset Pool Financing business with Party B immediately on the date on which it discovers such circumstance. (1) Party B breaches any obligation hereunder or Party B expressly states or indicates by its conduct that it will not perform its obligations hereunder. (2) Party B provides false information or conceals important facts about its business and financial condition, and obtains funds or credit lines from Party A or other banks by pledging notes receivable or accounts receivable that are not backed by genuine trade transactions, or other assets of right that are illegally acquired. (3) Party B is, or may be, subject to administrative or criminal sanctions or is under investigation by the competent authority due to illegal business operations. (4) Party B is liquidated, canceled, declared bankrupt, or dissolved. (5) Party B refuses to accept supervision and inspection by Party A on the use of credit funds and related business and financial activities. (6) Party B falls under any other circumstance which may subject Party A to credit risk.