Common use of Amortization; Repayment Clause in Contracts

Amortization; Repayment. 3.1. The Borrower will amortize the Facility as stipulated in the Schedule hereunder written, subject to any other changes in such amortization as communicated later in writing by the Bank to the Borrower. However, in the event of delay or advancement, for any reason whatsoever, in the disbursement of the Facility, the Due Date of payment of first EMI shall in such case be the corresponding day of the following months to the day currently stated in the Schedule hereunder written. 3.2. The date of commencement of EMI shall be as intimated by the Bank from time to time or as included in the Sanction Letter or Schedule hereunder written. 3.3. Notwithstanding anything contained hereinabove the Bank shall have the right at any time and from time to time to review and/or reschedule the repayment terms of the Facility or of the outstanding amount thereof in such manner as the Bank may at its sole discretion decide. In such an event the Borrower shall follow the repayment schedule as revised by the Bank for the amount outstanding at such time. 3.4. The Borrower agrees that the repayment of the Borrower’s Dues shall be payable at the place where the branch of the Bank is situated or such other branch notified by the Bank to the Borrower by way of PDC and/or SI and/or ECS and/or NACH, details whereof are mentioned in the Schedule hereunder written. The Borrower agrees that the amount shall be remitted to the Bank on the Due Date of EMI. In the event of any dishonour of PDC/SI/ECS/NACH instruction, the Borrower agrees to pay a dishonour charge as mentioned in the Schedule hereunder written, in addition to any Additional Interest that may be levied by the Bank. 3.5. In the event of any variation in: a) the date of payment of EMIs; or b) the amount of Interest, principal or EMIs; or c) the numbers thereof, The Borroweragrees and undertakes to forthwith issue fresh PDCs/ECS/SI/NACH instructions to the Bank as may be required by the Bank. 3.6. In case if any amount is prepaid by the Borrower, the same shall be adjusted first towards the incidental charges, Additional Interest, EMI outstanding and balance towards the principal amount of the Facility. 3.7. The Bank shall have the right to require the Borrower to furnish such information/documents concerning his employment, trade, business or profession at any time and the Borrower shall furnish such information/documents immediately. 3.8. The EMI amount (as provided in the Schedule hereunder written) shall be arrived at so as to comprise repayment of principal and payment of Interest calculated on the basis of the Interest rate, periodicity of compounding, periodicity of repayment, periodicity of effecting credits in the account so as to aim repayment of the entire liability under the Facility at the end of its tenure and the Borrower agrees to continue paying EMIs until all the Borrower’s Dues have been repaid in full to the satisfaction of the Bank. 3.9. The Borrower shall at all times maintain sufficient funds in his/her/their bank account(s) to ensure that the SI/ECS/NACH/PDCs, if any, issued by the Borrower are not dishonored and the installments/ EMI are received/realized by the Bank before the applicable Due Date. 3.10. No notice, reminder or intimation shall be given to the Borrower regarding its obligation to pay the amount payable hereunder on the Due Date and it shall be entirely the Borrower’s responsibility to ensure prompt and regular payment of the amount payable by the Borrower to the Bank on the Due Date and in the manner provided in the Schedule hereunder written. 3.11. All sums payable by the Borrower under this Agreement shall be paid in full promptly and in a timely manner, free of any restriction or condition and free and clear of and without any counter claim, set off, deduction or withholding, whether on account of tax or otherwise, without any demur, protest or default.

Amortization; Repayment. 3.1. The Borrower will amortize the Facility as stipulated in the Schedule hereunder written, subject to any other changes in such amortization as communicated later in writing by the Bank to the Borrower. However, in the event of delay or advancement, for any reason whatsoever, in the disbursement of the Facility, the Due Date of payment of first EMI shall in such case be the corresponding day of the following months to the day currently stated in the Schedule hereunder written. 3.2. The date of commencement of EMI shall be as intimated by the Bank from time to time or as included in the Sanction Letter or Schedule hereunder written. 3.3. Notwithstanding anything contained hereinabove the Bank shall have the right at any time and from time to time to review and/or reschedule the repayment terms of the Facility or of the outstanding amount thereof in such manner as the Bank may at its sole discretion decide. In such an event the Borrower shall follow the repayment schedule as revised by the Bank for the amount outstanding at such time. The Bank may vary its MCLR from time to time in such a manner including as to the tenure of the Facility as the Bank may deem fit in its discretion. 3.4. The Borrower agrees that the repayment of the Borrower’s Dues shall be payable at the place where the branch of the Bank is situated or such other branch notified by the Bank to the Borrower by way of PDC and/or SI and/or ECS and/or NACH, details whereof are mentioned in the Schedule hereunder written. The Borrower agrees that the amount shall be remitted to the Bank on the Due Date of EMI. In the event of any dishonour of PDC/SI/ECS/NACH instruction, the Borrower agrees to pay a dishonour charge as mentioned in the Schedule hereunder written, in addition to any Additional Interest that may be levied by the Bank. 3.5. In the event of any variation in: a) the date of payment of EMIs; or b) the amount of Interest, principal or EMIs; or c) the numbers thereof, The Borroweragrees Borrower agrees and undertakes to forthwith issue fresh PDCs/ECS/SI/NACH instructions to the Bank as may be required by the Bank. 3.6. In case if any amount is prepaid by the Borrower, the same shall be adjusted first towards the incidental charges, Additional Interest, EMI outstanding and balance towards the principal amount of the Facility. 3.7. The Bank shall have the right to require the Borrower to furnish such information/documents concerning his employment, trade, business or profession at any time and the Borrower shall furnish such information/documents immediately. 3.8. The EMI amount (as provided in the Schedule hereunder written) shall be arrived at so as to comprise repayment of principal and payment of Interest calculated on the basis of the Interest rate, periodicity of compounding, periodicity of repayment, periodicity of effecting credits in the account so as to aim repayment of the entire liability under the Facility at the end of its tenure and the Borrower agrees to continue paying EMIs until all the Borrower’s Dues have been repaid in full to the satisfaction of the Bank. 3.9. Advance EMI amount (where applicable and as specified in the Schedule hereunder written) shall be treated as collateral and shall be adjusted towards payments of the outstanding instalments of the Facility or overdue charges where applicable. The Bank shall not pay any interest on the advance EMI amount. 3.10. The Borrower shall at all times maintain sufficient funds in his/her/their bank account(s) to ensure that the SI/ECS/NACH/PDCs, if any, issued by the Borrower are not dishonored and the installments/ EMI are received/realized by the Bank before the applicable Due Date. 3.103.11. No notice, reminder or intimation shall be given to the Borrower regarding its obligation to pay the amount payable hereunder on the Due Date and it shall be entirely the Borrower’s responsibility to ensure prompt and regular payment of the amount payable by the Borrower to the Bank on the Due Date and in the manner provided in the Schedule hereunder written. 3.113.12. All sums payable by the Borrower under this Agreement shall be paid in full promptly and in a timely manner, free of any restriction or condition and free and clear of and without any counter claim, set off, deduction or withholding, whether on account of tax or otherwise, without any demur, protest or default.

Amortization; Repayment. 3.1. The Borrower will amortize the Facility as stipulated in the Schedule hereunder written, subject to any other changes in such amortization as communicated later in writing by the Bank to the Borrower. However, in the event of delay or advancement, for any reason whatsoever, in the disbursement of the Facility, the Due Date of payment of first EMI shall in such case be the corresponding day of the following months to the day currently stated in the Schedule hereunder written. 3.2. The date of commencement of EMI shall be as intimated by the Bank from time to time or as included in the Sanction Letter or Schedule hereunder written. 3.3. Notwithstanding anything contained hereinabove the Bank shall have the right at any time and from time to time to review and/or reschedule the repayment terms of the Facility or of the outstanding amount thereof in such manner as the Bank may at its sole discretion decide. In such an event the Borrower shall follow the repayment schedule as revised by the Bank for the amount outstanding at such time. 3.4. The Borrower agrees that the repayment of the Borrower’s Dues shall be payable at the place where the branch of the Bank is situated or such other branch notified by the Bank to the Borrower by way of PDC and/or SI and/or ECS and/or NACH, details whereof are mentioned in the Schedule hereunder written. The Borrower agrees that the amount shall be remitted to the Bank on the Due Date of EMI. In the event of any dishonour of PDC/SI/ECS/NACH instruction, the Borrower agrees to pay a dishonour charge as mentioned in the Schedule hereunder written, in addition to any Additional Interest EMI Overdue Charges that may be levied by the Bank. 3.5. In the event of any variation in: a) the date of payment of EMIs; or b) the amount of Interest, principal or EMIs; or c) the numbers thereof, The Borroweragrees Borrower agrees and undertakes to forthwith issue fresh PDCs/ECS/SI/NACH instructions to the Bank as may be required by the Bank. 3.6. In case if any amount is prepaid by the Borrower, the same shall be adjusted first towards the incidental charges, Additional Interest, EMI outstanding and balance towards the principal amount of the Facility. 3.7. The Bank shall have the right to require the Borrower to furnish such information/documents concerning his employment, trade, business or profession at any time and the Borrower shall furnish such information/documents immediately. 3.83.7. The EMI amount (as provided in the Schedule hereunder written) shall be arrived at so as to comprise repayment of principal and payment of Interest calculated on the basis of the Interest rate, periodicity of compounding, periodicity of repayment, periodicity of effecting credits in the account so as to aim repayment of the entire liability under the Facility at the end of its tenure and the Borrower agrees to continue paying EMIs until all the Borrower’s Dues have been repaid in full to the satisfaction of the Bank. 3.93.8. The Borrower shall at all times maintain sufficient funds in his/her/their bank account(s) to ensure that the SI/ECS/NACH/PDCs, if any, issued by the Borrower are not dishonored and the installments/ EMI are received/realized by the Bank before the applicable Due Date. 3.103.9. No notice, reminder or intimation shall be given to the Borrower regarding its obligation to pay the amount payable hereunder on the Due Date and it shall be entirely the Borrower’s responsibility to ensure prompt and regular payment of the amount payable by the Borrower to the Bank on the Due Date and in the manner provided in the Schedule hereunder written. 3.113.10. All sums payable by the Borrower under this Agreement shall be paid in full promptly and in a timely manner, free of any restriction or condition and free and clear of and without any counter claim, set off, deduction or withholding, whether on account of tax or otherwise, without any demur, protest or default.

Amortization; Repayment. 3.1. The Borrower will amortize the Facility as stipulated in the Schedule hereunder written, subject to any other changes in such amortization as communicated later in writing by the Bank to the Borrower. However, in the event of delay or advancement, for any reason whatsoever, in the disbursement of the Facility, the Due Date of payment of first EMI shall in such case be the corresponding day of the following months to the day currently stated in the Schedule hereunder written. 3.2. The date of commencement of EMI shall be as intimated by the Bank from time to time or as included in the Sanction Letter or Schedule hereunder written. 3.3. Notwithstanding anything contained hereinabove the Bank shall have the right at any time and from time to time to review and/or reschedule the repayment terms of the Facility or of the outstanding amount thereof in such manner as the Bank may at its sole discretion decide. In such an event the Borrower shall follow the repayment schedule as revised by the Bank for the amount outstanding at such time. 3.4. The Borrower agrees that the repayment of the Borrower’s Dues shall be payable at the place where the branch of the Bank is situated or such other branch notified by the Bank to the Borrower by way of PDC and/or SI and/or ECS and/or NACH, details whereof are mentioned in the Schedule hereunder written. The Borrower agrees that the amount shall be remitted to the Bank on the Due Date of EMI. In the event of any dishonour of PDC/SI/ECS/NACH instruction, the Borrower agrees to pay a dishonour charge as mentioned in the Schedule hereunder written, in addition to any Additional Interest that may be levied by the Bank. 3.5. In the event of any variation in: a) the date of payment of EMIs; or b) the amount of Interest, principal or EMIs; or c) the numbers thereof, The Borroweragrees Borrower agrees and undertakes to forthwith issue fresh PDCs/ECS/SI/NACH instructions to the Bank as may be required by the Bank. 3.6. In case if any amount is prepaid by the Borrower, the same shall be adjusted first towards the incidental charges, Additional Interest, EMI outstanding and balance towards the principal amount of the Facility. 3.7. The Bank shall have the right to require the Borrower to furnish such information/documents concerning his employment, trade, business or profession at any time and the Borrower shall furnish such information/documents immediately. 3.8. The EMI amount (as provided in the Schedule hereunder written) shall be arrived at so as to comprise repayment of principal and payment of Interest calculated on the basis of the Interest rate, periodicity of compounding, periodicity of repayment, periodicity of effecting credits in the account so as to aim repayment of the entire liability under the Facility at the end of its tenure and the Borrower agrees to continue paying EMIs until all the Borrower’s Dues have been repaid in full to the satisfaction of the Bank. 3.9. The Borrower shall at all times maintain sufficient funds in his/her/their bank account(s) to ensure that the SI/ECS/NACH/PDCs, if any, issued by the Borrower are not dishonored and the installments/ EMI are received/realized by the Bank before the applicable Due Date. 3.10. No notice, reminder or intimation shall be given to the Borrower regarding its obligation to pay the amount payable hereunder on the Due Date and it shall be entirely the Borrower’s responsibility to ensure prompt and regular payment of the amount payable by the Borrower to the Bank on the Due Date and in the manner provided in the Schedule hereunder written. 3.11. All sums payable by the Borrower under this Agreement shall be paid in full promptly and in a timely manner, free of any restriction or condition and free and clear of and without any counter claim, set off, deduction or withholding, whether on account of tax or otherwise, without any demur, protest or default.