【正文】 y declare all principal already lent under the Loan Contract to be due ahead of the contract due date and require Borrower immediately to return the principal and pay all interest due。 (2) Borrower is delinquent in its repayment of the principal or interest。s approval is not necessary. 2 PAGE . The formula for calculating the interest is as follows: Interest on the loan = (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。s business system, operational practices, and the procedures under this Loan Contract. . Borrower warrants that it will cooperate with Lender on the supervision and inspection of the use of the funds borrowed under this Loan Contract and of the business condition of Borrower and that it will promptly provide all financial statements and related materials needed by Lender, which Borrower warrants