Common use of Rights and Responsibilities of Party A Clause in Contracts

Rights and Responsibilities of Party A. 8.1.1 Party A should withdraw and use the loan in time and channel agreed in this Contract. 8.1.2 If Party A honors repayment before agreed time, Party A should get approval of Party B and compensate Party B for loss of expected yield and other expenses. 8.1.3 Party A should be responsible for trustfulness, accuracy and completeness of files handed over during the process of loan inspection. 8.1.4 Party A should voluntarily accept investigation, learning and supervision of Party B. 8.1.5 Party A should be cooperative in investigation, learning and supervision of Party B in operating, managing and financial conditions of the company and be responsible in offering files like Income Statement and Balance Sheet of relevant periods. 8.1.6 Party A should pay off principal and interest under this Contract as agreed. 8.1.7 Party A should cover relevant expenses under this Contract, including but not limited to expenses of notarization, appraisal, evaluation, registration, etc. 8.1.8 Party A should send back Demand Letter or Demand Files posted or delivered in other ways by Party B within 3 days after receiving. 8.1.9 Actions, like contract, lease, transformation of shareholding system, joint operation, consolidation, merger, joint venture, separation, capital reduction, stock transfer, transfer of business and others fully influential on realization of creditor’s right of Party B, should be informed to Party B at least 30 days ahead of time and should be approved by Party B in written files, or else actions above should not be implemented before the debt is paid off. 8.1.10 Modifications of Industrial and commercial registration items, like company location, mail address, scope of business, legal representatives, etc., should be informed to Party B in written form within 7 days after certain modification is implemented. 8.1.11 Any incidents, harmful to daily operations of the company but not to repayment of the loan under this Contract, including but not limited to incidents concerning significant economic disputes, bankruptcy, deterioration of financial conditions, etc., should be immediately informed to Party B in written form. 8.1.12 Close of business, business dissolution, suspending of business, revoking or cancelling of business license, etc., should be informed to Party B within 5 days right after the said incidents happen in written form, and balance of principal the interest should be paid off immediately.