Common use of Collections/Administration Clause in Contracts

Collections/Administration. The Borrower expresses, recognizes and accepts that Bank shall without prejudice to its right to perform such activities by itself or through its officers or employees be entitled to and has full power and authority to appoint one or more third parties as Bank may select and to delegate to such third party all its functions, rights and powers under this Agreement relating to administration of the Loan including the right and authority to collect and receive on behalf of the Bank from the Borrower the PRE-EMI, EMI and other amounts due by the Borrower under this Agreement and to perform and execute all lawful acts, deeds, matters and things connected therewith and incidental thereto including sending notices contacting the Borrower receiving cash/cheque/drafts/mandates from the Borrower and giving valid and effectual receipts and discharge to the Borrower. For the purpose aforesaid, the Bank shall be entitled to disclose to such third parties all necessary or relevant information pertaining to the Borrower and the Loan and Borrower hereby consents to such disclosure by the Bank.

Collections/Administration. The Borrower expresses, recognizes and accepts that Bank shall without prejudice to its right to perform such activities by itself or through its officers or employees be entitled to and has full power and authority to appoint one or more third parties as Bank may select and to delegate to such third party all its functions, rights and powers under this Agreement relating to administration of the Loan including the right and authority to collect and receive on and behalf of the Bank from the Borrower the PRE-EMI, EMI and other amounts due by the Borrower under this Agreement and to perform and execute all lawful acts, deeds, matters and things connected therewith and incidental thereto including sending notices contacting the Borrower receiving cash/cheque/drafts/mandates cheque /drafts / Mandates from the Borrower and giving valid and effectual receipts and discharge to the Borrower. Borrower For the purpose aforesaid, the aforesaid Bank shall be entitled to disclose to such third parties all necessary or relevant information pertaining to the Borrower and the Loan and Borrower hereby consents to such disclosure by the Bank.