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【正文】 = (the prescribed interest rate under this Loan Contract) x (Loan amount) x (actual days of use), where actual days of use is calculated from the day the Loan is issued. . Settlement of interest under this Loan Contract is to be calculated per month. The settlement date is the 20th day of each month. All principal and interest shall be paid in full on the day the term of the Loan expires. Article 3. Release of funds under the Loan . Borrower may apply for release of funds under the Loan Contract, at one time or at different times, within the fixed period, under Article hereof. However, each time Borrower must make the application to Lender at least 3 banking days in advance. . Lender shall have the right to examine the following issues before releasing funds under the Loan and shall decide whether to release funds based on results of the examination: (1) whether Borrower has performed all legallyrequired procedures such as obtaining government licenses, approvals and registration and other procedures Lender may require of Borrower。 (2) Whether a related guaranty contract is currently in effect. . Lender shall release funds at one time or at different times to Borrower according to the Loan Voucher。 and . The funds release date and amount shall be as recorded in the Loan Voucher. Article 4. Repayment of the Loan: . The date of repayment of principal under this Loan Contract shall be as recorded in the Loan Voucher。 . Borrower shall repay the principal and interest under this Loan Contract in full on the due date. . ***Borrower hereby irrevocably authorizes Lender, on the Lender39。s own initiative, to withdraw funds from Borrower39。s deposit account with the Bank of Communications. . Borrower shall repay principal and interest in the currency provided in Article above. . ***Borrower may r
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