Common use of Compliance with exchange control laws Clause in Contracts

Compliance with exchange control laws. (i) The Borrower hereby agrees and undertakes to abide by the provisions of Foreign Exchange Management Act, 1999 and all rules and regulations made thereunder (as amended from time to time) with respect to purchasing, retaining, using and selling the Property and repatriating the proceeds of such sale outside India. The Borrower hereby agrees and undertakes to maintains an NRO/NRE account in India in compliance with the Foreign Exchange Management Act, 1999 and all relevant regulations there under (as applicable).