Common use of Procedure of withdrawal Clause in Contracts

Procedure of withdrawal. 9.2.1 The Borrower shall open a special account for working capital loan with the Lender, which shall be specially used for loan granting and payment, as well as capital recovery (see Article 10.1 for details). 9.2.2 The Borrower shall make withdrawal according to its capital turnover needs for day-to-day production and operation. Upon withdrawal, the Borrower shall submit an “Application of Withdrawal” (in duplicate) to the business department of our bank and provide corresponding transaction certification. The written documents provided shall be original; if any original cannot be provided, a copy with the corporate seal of the Borrower may be provided with the consent of the Lender. 9.2.3 The Lender may decide whether to grant the loan or not after examining the materials provided by the Borrower in line with its internal procedure.