portion of Loan ...portion thereof

Andrew1980

Senior Member
Hi

I would like to ask if it is correct to say in the sentence below:


It is a material breach of this Agreement on the part of Borrower in case if any of the following occur:
- improper use by Borrower of Loan or any portion thereof


is it correct to say instead: 'improper use by Borrower of the Loan or any portion of it' to place 'improper use by Borrower of the Loan or any portion thereof'?

Thank you

P.S. the context is an Agreement of Loan extension to a company
 
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