Common use of Consequence of an Event of Default Clause in Contracts

Consequence of an Event of Default. 8.1 On and at any time after the occurrence of an Event of Default, IHFL may, with or without any notice to any of the Borrower(s)and with or without the intervention of the court/arbitrator, (i) cancel/recall the Loan whereupon the Borrower's Dues shall become immediately repayable/payable by the Borrower; and/or (ii) initiate/exercise any or all of its rights, actions, remedies and powers under the Loan Documents and/or applicable laws; and/or (iii) enforce, allot, sell, invoke, deliver, deal with, take possession, convey, transfer, assign, lease, sub-lease, encumber and/or dispose off in any manner (including by private treaty and/or auction), on such terms and conditions including the sale/transfer price of the Security or any part/unit thereof as deemed fit by IHFL, any/ all/part of the Security including the guarantees and/or the demand promissory notes, and/or do such other things in relation to and/or with respect to the Security (any part thereof) which may be permitted under law. If the net sum realized through the enforcement/sale/ transfer of Security is insufficient to cover the Borrower's Dues, then without prejudice to the other rights and remedies of IHFL under the Loan Documents and/or in law, the Borrower agree(s) and undertake(s) to pay to IHFL forthwith at IHFL's demand such amount as will make up the shortfall. The decision made by IHFL with respect to any matter under the Loan Documents shall be final and binding on the Borrower. 8.2 If any Event of Default or any event which, after the notice or lapse of time or both would constitute an Event of Default shall have happened, the Borrower shall forthwith give IHFL notice thereof in writing specifying such Event of Default, or such other event constituting to an Event of Default. The Borrower shall also promptly inform IHFL if and when any statutory notice of winding-up under the provisions of the applicable laws or of any suit or legal process intended to be filed / initiated against the Borrower is received by the Borrower. On the question whether any of the above events/circumstances has occurred/ happened, the decision of IHFL shall be final, conclusive and binding on the Borrower. However, IHFL will act in a reasonable manner while exercising any such discretion given to IHFL under this Agreement. The rights, powers and remedies given to IHFL by this Agreement shall be in addition to all rights, powers and remedies given to IHFL by virtue of any other security, statute or rule of law. IHFL may exercise a IHFL's lien or right of set-off with respect to any obligation of the Borrower to IHFL and shall have a lien on all Property or securities of the Borrower in IHFL's possession or custody whether for safe-keeping or otherwise. Without prejudice to what is stated hereinabove, the Parties hereby expressly agree and confirm that in the event of the Borrower failing to pay the Borrower's Dues or on happening of an Event of Default, in addition to any General or Specific Lien to which IHFL may be entitled by law, IHFL shall, without prejudice to any of its specific rights under the Loan Documents, be at liberty to apply any other money or amounts standing to the credit of the Borrower in any account with IHFL in or towards Repayment of the Borrower's Dues, without any notice to the Borrower. In case of any deficit/shortfall, the deficit/shortfall amount may be recovered by IHFL from the Borrower. The Borrower hereby agree and hereby authorise IHFL, and the Borrower shall cause the other Borrower to agree and authorise IHFL, that (a) IHFL shall be entitled to disclose the credit information and other related/relevant information of the Borrower to the Reserve Bank of India, credit information company (e.g. CIBIL and/or other similar entities), statutory /regulatory authorities / bodies, IHFL's banks/financial institutions and other persons/bodies if so required by any of them under, inter alia, any law, regulations, guidelines and/or circulars and/or pursuant to/in connection with the provisions of the Loan Documents; (b) in case any of the Borrower commit(s) default in the payment/repayment of the Borrower's Dues (or part thereof) and/or upon occurrence of an Event of Default under the Loan Documents, IHFL, the Reserve Bank of India and/or credit information company will have an unqualified right to disclose or publish the name(s) of the Borrower and its/their partners or directors as defaulter(s) in such manner and through such medium as IHFL, the Reserve Bank of India and/or the credit information company in their absolute discretion may think fit; and/or (c) IHFL shall be entitled to use/utilize the credit information and other related/relevant information of the Borrower for the purposes of or in connection with the Loan/future loan(s), if any, to be obtained by any of the Borrower and/or under the provisions of the Loan Documents.

Consequence of an Event of Default. 8.1 On and at any time after the occurrence of an Event of Default, IHFL may, with or without any notice to any of the Borrower(s)and Borrower(s) and with or without the intervention of the court/arbitrator, (i) cancel/recall the Loan whereupon the Borrower's Dues shall become immediately repayable/payable by the Borrower; and/or (ii) initiate/exercise any or all of its rights, actions, remedies and powers under the Loan Documents and/or applicable laws; and/or (iii) enforce, allot, sell, invoke, deliver, deal with, take possession, convey, transfer, assign, lease, sub-lease, encumber and/or dispose off in any manner (including by private treaty and/or auction), on such terms and conditions including the sale/transfer price of the Security or any part/unit thereof as deemed fit by IHFL, any/ all/part of the Security including the guarantees and/or the demand promissory notes, and/or do such other things in relation to and/or with respect to the Security (any part thereof) which may be permitted under law. If the net sum realized through the enforcement/sale/ transfer of Security is insufficient to cover the Borrower's Dues, then without prejudice to the other rights and remedies of IHFL under the Loan Documents and/or in law, the Borrower agree(s) and undertake(s) to pay to IHFL forthwith at IHFL's demand such amount as will make up the shortfall. The decision made by IHFL with respect to any matter under the Loan Documents shall be final and binding on the Borrower. 8.2 If any Event of Default or any event which, after the notice or lapse of time or both would constitute an Event of Default shall have happened, the Borrower shall forthwith give IHFL notice thereof in writing specifying such Event of Default, or such other event constituting to an Event of Default. The Borrower shall also promptly inform IHFL if and when any statutory notice of winding-up under the provisions of the applicable laws or of any suit or legal process intended to be filed / initiated against the Borrower is received by the Borrower. On the question whether any of the above events/circumstances has occurred/ happened, the decision of IHFL shall be final, conclusive and binding on the Borrower. However, IHFL will act in a reasonable manner while exercising any such discretion given to IHFL under this Agreement. The rights, powers and remedies given to IHFL by this Agreement shall be in addition to all rights, powers and remedies given to IHFL by virtue of any other security, statute or rule of law. IHFL may exercise a IHFL's lien or right of set-off with respect to any obligation of the Borrower to IHFL and shall have a lien on all Property or securities of the Borrower in IHFL's possession or custody whether for safe-keeping or otherwise. Without prejudice to what is stated hereinabove, the Parties hereby expressly agree and confirm that in the event of the Borrower failing to pay the Borrower's Dues or on happening of an Event of Default, in addition to any General or Specific Lien to which IHFL may be entitled by law, IHFL shall, without prejudice to any of its specific rights under the Loan Documents, be at liberty to apply any other money or amounts standing to the credit of the Borrower in any account with IHFL in or towards Repayment of the Borrower's Dues, without any notice to the Borrower. In case of any deficit/shortfall, the deficit/shortfall amount may be recovered by IHFL from the Borrower. The Borrower hereby agree and hereby authorise IHFL, and the Borrower shall cause the other Borrower to agree and authorise IHFL, that (a) IHFL shall be entitled to disclose the credit information and other related/relevant information of the Borrower to the Reserve Bank of India, credit information company (e.g. CIBIL and/or other similar entities), statutory /regulatory authorities / bodies, IHFL's banks/financial institutions and other persons/bodies if so required by any of them under, inter alia, any law, regulations, guidelines and/or circulars and/or pursuant to/in connection with the provisions of the Loan Documents; (b) in case any of the Borrower commit(s) default in the payment/repayment epayment of the Borrower's Dues (or part thereof) and/or upon occurrence of an Event of Default under the Loan Documents, IHFL, the Reserve Bank of India and/or credit information company will have an unqualified right to disclose or publish the name(s) of the Borrower and its/their partners or directors as defaulter(s) in such manner and through such medium as IHFL, the Reserve Bank of India and/or the credit information company in their absolute discretion may think fit; and/or (c) IHFL shall be entitled to use/utilize the credit information and other related/relevant information of the Borrower for the purposes of or in connection with the Loan/future loan(s), if any, to be obtained by any of the Borrower and/or under the provisions of the Loan Documents.

Consequence of an Event of Default. 8.1 On and at any time after the occurrence of an Event of Default, IHFL Claimstant (CAS Technologies Pvt. Ltd) may, with or without any by notice to any of the Borrower(s)and with or without the intervention of the courtCustomer/arbitrator, (i) Co-Customer(s): cancel/recall the Loan Service whereupon the Borrower's Dues outstanding Service along with interest, additional interest, delayed interest, costs, charges and expenses shall become immediately repayable/payable by the BorrowerCustomer/Co-Customer(s); and/or (ii) initiate/exercise any or all of its rights, actions, remedies and powers under the Loan Documents and/or applicable lawsthis Agreement; and/or (iii) enforce, allot, sell, invoke, deliver, deal with, take possession, convey, transfer, assign, lease, sub-lease, encumber and/or and/ or dispose off in any manner (including by private treaty and/or auction)manner, on such terms and conditions including the sale/transfer price any or all of the Security or any part/unit thereof as deemed fit by IHFL/security, any/ all/part of the Security including the guarantees and/or the demand promissory notes, and/or do such other things in relation to and/or with respect to the Security (any part thereof) which may be permitted under lawguarantee(s). If the net sum realized through the enforcement/sale/ transfer of Security is insufficient to cover the Borrower's Dues, then without prejudice to the other rights and remedies of IHFL under the Loan Documents and/or in law, the Borrower agree(s) and undertake(s) to pay to IHFL forthwith at IHFL's demand such amount as will make up the shortfall. The decision made by IHFL with respect to any matter under the Loan Documents shall be final and binding on the Borrower. 8.2 If any Event of Default or any event which, after the notice or lapse of time or both would constitute an Event of Default shall have happened, the Borrower Customer/Co-Customer(s) shall forthwith give IHFL the Claimstant (CAS Technologies Pvt. Ltd) notice thereof in writing specifying such Event of Default, or such other event constituting to an Event of Defaultevent. The Borrower Customer/Co- Customer(s) shall also promptly inform IHFL the Claimstant (CAS Technologies Pvt. Ltd) if and when any statutory notice of winding-up under the provisions of the applicable laws Companies Act, 2013or any other law or of any suit or legal process intended to be filed / initiated against the Borrower Customer/Co-Customer(s), is received by the BorrowerCustomer/Co-Customer(s). On the question whether any of the above events/circumstances has occurred/ happened, the decision of IHFL the Claimstant (CAS Technologies Pvt. Ltd) shall be final, conclusive and binding on the Borrower. However, IHFL will act in a reasonable manner while exercising any such discretion given to IHFL under this Agreement. Customer/Co-Customer(s) The rights, powers and remedies given to IHFL the Claimstant (CAS Technologies Pvt. Ltd) by this Agreement shall be in addition to all rights, rights powers and remedies given to IHFL the Claimstant (CAS Technologies Pvt. Ltd) by virtue of any other security, statute or rule of law. IHFL The Claimstant (CAS Technologies Pvt. Ltd) may exercise a IHFL's the Claimstant (CAS Technologies Pvt. Ltd) ’s lien or right of set-off with respect to any obligation of the Borrower Customer/CoCustomer(s) to IHFL the Claimstant (CAS Technologies Pvt. Ltd) in the same manner as if the obligation were unsecured and shall have a lien on all Property property or securities of the Borrower Customer/Co-Customer(s) in IHFLLender's possession or custody whether for safe-keeping or otherwise. Without prejudice to what is stated hereinabove, the Parties Customer/CoCustomer(s) hereby expressly agree and confirm that in the event of the Borrower Customer/Co-Customer(s) failing to pay the Borrower's Dues or on happening outstanding amount of an Event of Defaultthe Service, in addition to any General or Specific Lien to which IHFL the Claimstant (CAS Technologies Pvt. Ltd) may be entitled by law, IHFL shallthe Claimstant (CAS Technologies Pvt. Ltd) , without prejudice to any of its specific rights under the Loan Documents, this Agreement shall be at liberty to apply any other money or amounts standing to the credit of the Borrower Customer/Co-Customer(s) in any account (including fixed deposit account) with IHFL the Claimstant (CAS Technologies Pvt. Ltd) in or towards Repayment repayment of the Borrower's Duesoutstanding amount of the Service, without any notice to the BorrowerCustomer/Co-Customer(s), on happening of any Event of Default or if upon demand by the Claimstant (CAS Technologies Pvt. Ltd) , the Service is not repaid within the prescribed time. In case of any deficit/shortfall, the deficit/shortfall deficit amount may be recovered by IHFL the Claimstant (CAS Technologies Pvt. Ltd) from the BorrowerCustomer/Co-Customer(s). The Borrower hereby agree Without prejudice to the Claimstant (CAS Technologies Pvt. Ltd) 's other rights, if the Customer/Co-Customer(s) fail to pay any amount payable by the Customer/Co-Customer(s) to the Claimstant (CAS Technologies Pvt. Ltd) under this Agreement within 7days of demand or of such amount becoming due and hereby authorise IHFLpayable or if any Event of Default occurs or on account of the Customer/Co-Customer(s) failure to perform its/his/their obligation under this Agreement, this Agreement shall ipso facto stands terminated/determined and the Borrower shall cause the other Borrower to agree and authorise IHFL, that Claimstant (aCAS Technologies Pvt. Ltd) IHFL shall be entitled to disclose forthwith take physical possession of the credit information Vehicle/equipment and/or other security, either by itself or through its agents and sell or otherwise deal with the Vehicle/equipment and/or other security to enforce the Claimstant (CAS Technologies Pvt. Ltd) 's security and recover the Customer/Co-Customer(s) outstanding dues. The Customer/Co-Customer(s) understands, agrees and undertakes that the Vehicle/equipment is/are hypothecated to the Claimstant (CAS Technologies Pvt. Ltd) and upon termination/determination of the Agreement, the Customer/Co-Customer(s) is/are liable to restore the possession of the Vehicle/equipment to the Claimstant (CAS Technologies Pvt. Ltd) immediately or any obstruction caused by the Customer/Co-Customer(s) in the Claimstant (CAS Technologies Pvt. Ltd) exercising its rights hereunder, shall be deemed to be unlawful detention of the Vehicle/equipment and dishonest misappropriation within the meaning of Section 403 of the Indian Penal Code. Without prejudice to its other rights, the Claimstant (CAS Technologies Pvt. Ltd) shall be entitled to forthwith take physical possession of the Vehicle/equipment to enforce its security. For this purpose, the Claimstant (CAS Technologies Pvt. Ltd) 's authorized representatives or its employees and agents will have unrestricted right of entry in any premises of the Customer/CoCustomer(s) or any place where the Vehicle/equipment is stationed/parked, to take the physical possession of the Vehicle/equipment and the Customer/Co-Customer(s) shall not prevent or obstruct them from taking the physical possession of the vehicle. In order to enforce its security as aforesaid, it shall be lawful for the Claimstant (CAS Technologies Pvt. Ltd) or its authorized representatives or its employees or its agents to forthwith or at any time without notice to the Customer/Co-Customer(s), to enter upon any premises or garage or godown where the Vehicle/equipment may be or is believed to be and take possession of the same without being liable to any court or other proceedings by the Customer/CoCustomer(s) or any person claiming under him or otherwise. The Claimstant (CAS Technologies Pvt. Ltd) will be well within its rights to use tow-cranes to carry away the vehicle. The Customer/Co-Customer(s) shall be liable to pay any towing charges or other such expenses incurred by the Claimstant (CAS Technologies Pvt. Ltd) for effecting the possession of the Vehicle/equipment and for its safe keeping, parking charges etc. The Customer/Co-Customer(s) agree/s and undertake/s not to prevent or obstruct the Claimstant (CAS Technologies Pvt. Ltd) from taking possession of the vehicle(s) and that the Claimstant (CAS Technologies Pvt. Ltd) 's representatives will have unrestricted right of entry in and to any premises where the Vehicle/equipment is located/kept for the time being in force. The Claimstant (CAS Technologies Pvt. Ltd) will be entitled to sell, give on hire or otherwise deal with the Vehicle/equipment by public or private auction or private treaty, without being liable for any loss and to apply the net proceeds thereof firstly towards satisfaction of all costs incurred in respect of such hire, sale or dealing, secondly towards liquidation of the balance of the interest and other relatedsums payable by the Customer/relevant information Co-Customer(s) to the Claimstant (CAS Technologies Pvt. Ltd) and thirdly towards the principal amount of the Borrower Service outstanding. The Claimstant (CAS Technologies Pvt. Ltd) shall have the power and right to transfer/sell the Vehicle/equipment without any further notice or recourse to the Reserve Bank Customer/Co-Customer(s). The Customer/Co-Customer(s) hereby agree/s and undertakes not to raise any objection and/or dispute as to the value at which the Vehicle/equipment is transferred/sold by the Claimstant (CAS Technologies Pvt. Ltd) and the decision made by the Claimstant (CAS Technologies Pvt. Ltd) shall be final and binding on the Customer/Co-Customer(s). The Claimstant (CAS Technologies Pvt. Ltd) shall not be liable for any loss arising out of/due to the sale /transfer of Indiavehicle. In the event of short fall/deficiency between the sale proceeds and the said amounts due/payable to the Claimstant (CAS Technologies Pvt. Ltd) , credit information company (e.g. CIBIL and/or other similar entities), statutory /regulatory authorities / bodies, IHFL's banksthe Customer/financial institutions and other persons/bodies if so required by Co-Customer(s) shall be liable to pay the shortfall. In no event will any of them under, inter alia, any law, regulations, guidelines and/or circulars and/or pursuant to/in connection with sum already paid under the provisions of this Agreement be refundable by the Loan Documents; Claimstant (bCAS Technologies Pvt. Ltd) to the Customer/Co-Customer(s). Nothing contained in this clause shall oblige the Claimstant (CAS Technologies Pvt. Ltd) to sell the Vehicle/equipment and the Claimstant (CAS Technologies Pvt. Ltd) shall be entitled to proceed against the Customer/Co-Customer(s) independently of such security. The Claimstant (CAS Technologies Pvt. Ltd) shall be entitled to adjust any other amount of the Customer/Co-Customer(s) with the Claimstant (CAS Technologies Pvt. Ltd) , towards payment of such deficiency. Nothing contained in this clause shall oblige the Claimstant (CAS Technologies Pvt. Ltd) to sell, hire or deal with the Vehicle/equipment and the Claimstant (CAS Technologies Pvt. Ltd) shall be entitled to proceed against the Customer/Co-Customer(s) independently of such sale, hire or dealing as conclusive. The Claimstant (CAS Technologies Pvt. Ltd) shall be entitled to recover from the Customer/Co-Customer(s) all expenses (including legal costs on full indemnity basis) incurred by the Claimstant (CAS Technologies Pvt. Ltd) in case any ascertaining the whereabouts of the Borrower commit(svehicle, taking possession, insuring, transporting and selling the Vehicle/equipment and of any legal proceedings that may be filed by the Claimstant (CAS Technologies Pvt. Ltd) default to enforce the provisions of this Agreement. It is expressly clarified that the rights and remedies referred to herein above shall be in addition to each other and also without prejudice to any other right or remedy available to the payment/repayment of Claimstant (CAS Technologies Pvt. Ltd) either under this Agreement or under any other agreement, or in law. That upon the Borrower's Dues (or part thereof) and/or upon occurrence of an any Event of Default under ,the Loan DocumentsCustomer/Co-Customer(s) shall be bound to return the Vehicle/equipment to the Claimstant (CAS Technologies Pvt. Ltd) at such location, IHFLas the Claimstant (CAS Technologies Pvt. Ltd) may designate in the same condition in which it was originally delivered to the Customer/Co-Customer(s) (ordinary wear and tear excepted). The Claimstant (CAS Technologies Pvt. Ltd) shall be entitled to take possession of the vehicle, irrespective of whether the Service has been recalled, whenever in the opinion of the Claimstant (CAS Technologies Pvt. Ltd) there is an apprehension of any money being paid or the Claimstant (CAS Technologies Pvt. Ltd) 's security being jeopardized. The Claimstant (CAS Technologies Pvt. Ltd) , its employees and/or agents and/or authorized representative etc, shall not be in any way responsible for any loss, damage, limitation or depreciation that the hypothecated Vehicle/equipment may suffer or sustain on any account whatsoever, whilst the same is in the possession of the Claimstant (CAS Technologies Pvt. Ltd) , its employees, agents or authorized representatives. Neither the Claimstant (CAS Technologies Pvt. Ltd) nor its employees, agents or authorized representatives shall be in anyway responsible and liable and the Customer/Co-Customer(s) hereby agree not to make the Claimstant (CAS Technologies Pvt. Ltd) , its employees, agents or authorized representative liable for any loss, damage, limitation or otherwise of any belongings and articles that may be kept or lying in the hypothecated Vehicle/equipment at the time of taking charge and/or possession of the hypothecated vehicle. The Claimstant (CAS Technologies Pvt. Ltd) shall be entitled to sell, assign, securities or transfer, the Reserve Bank of India and/or credit information company will have an unqualified right Claimstant (CAS Technologies Pvt. Ltd) 's rights and obligations hereunder to disclose or publish the name(sany person(s), Claimstant (CAS Technologies Pvt. Ltd) /partnership/agency of the Borrower Claimstant (CAS Technologies Pvt. Ltd) ’s choice in whole or in part and its/their partners or directors as defaulter(s) in such manner and through on such medium terms as IHFLthe Claimstant (CAS Technologies Pvt. Ltd) deems fit at its sole and absolute discretion. Any such sale, assignment, securitization or transfer shall conclusively bind the Reserve Bank of India and/or the credit information company in their absolute discretion may think fit; and/or (cCustomer/Co-Customer(s). The Customer/Co- Customer(s) IHFL shall not be entitled to usedirectly or indirectly assign or encumber the benefit of this Agreement. The Claimstant (CAS Technologies Pvt. Ltd) may, at the risk and cost of the Customer/utilize Co-Customer(s), engage one or, more person(s) to collect the credit information Customer/Co-Customer(s) outstanding and/or to enforce any security and may furnish to such person(s) such information, facts and figures as the Claimstant (CAS Technologies Pvt. Ltd) thinks fit and may delegate to such person(s), the right and authority to perform and execute all acts, deeds matters and things connected therewith or incidental thereto as the Claimstant (CAS Technologies Pvt. Ltd) thinks fit. Notwithstanding anything contained in the present Agreement, the Claimstant (CAS Technologies Pvt. Ltd) may at any time, at its sole discretion, and without assigning any reason, decide to amend/modify/revise the terms and conditions of this Agreement by giving prior notice to the Customer/Co-Customer(s) and such modified/amended/revised terms and conditions of this Agreement shall be binding on the Customer/Co-Customer(s). Customer/Co-Customer(s) hereby agrees and appoints the Claimstant (CAS Technologies Pvt. Ltd) and its officers, employees and agents and authorized representatives to be its duly constituted attorneys for all or any of the following purposes, upon the occurrence of an event of default, namely: To demand and receive all debts, sums of money, dividends, interest and other related/relevant information dues of whatever nature. To appear before the office of Regional Transport Officer, Sales Tax Officer, Police Authorities or any other authorities through advocates or any authorized person deemed necessary by the Claimstant (CAS Technologies Pvt. Ltd) to effect endorsement of hypothecation in registration certificate and transfer of the Borrower Assets. To take all such steps as may be required for the purposes recovery of any of the Hypothecated Assets, including the institution of any claim, suit, petition or other legal process and the signing and execution of all necessary vakalatnamas and documents for the said purpose and the compromising or settlement of such suit or action. To sign all papers, correspondence, vouchers, forms, applications, petitions, receipts, documents, deeds, agreements indentures and writings that the Customer/CoCustomer/Co-Customer(s) would be bound to do under or in pursuance of these presents and /or the Service for and behalf of the Customer/Co-Customer(s) and to attend before the Regional Transport Officer, Sales Tax Officer, Police Authorities, Sub-Registrar of Assurances or any other relevant authority and admit execution thereof. Generally to do, perform and execute or cause to be done, performed and executed all acts, deeds, matters, things and documents in all matters arising under or out of or concerning or touching these presents as the Customer/Co-Customer(s) could himself do, perform or execute. And for the better and more effectually doing effecting and performing the several matters and things as aforesaid to appoint from time to time or generally such other persons bodies companies organizations or agencies as the Claimstant (CAS Technologies Pvt. Ltd) may think fit as its substitute or substitutes to do execute and their place. The Customer/Co-Customer(s) agrees to ratify and confirm all that the Claimstant (CAS Technologies Pvt. Ltd) or any substitute or substitutes appointed by the Claimstant (CAS Technologies Pvt. Ltd) may lawfully do or cause to be done in exercise of the aforesaid powers. The Customer/Co-Customer(s) further agrees to give all assistance to the Claimstant (CAS Technologies Pvt. Ltd) and its officers and authorized representatives for the purpose of exercising any of the powers here in set out, including endorsing of documents, signing of papers and doing all such things as may be necessary to enable the Claimstant (CAS Technologies Pvt. Ltd) and its officers to exercise all the powers hereby conferred. The Customer/Co-Customer(s) further agrees that the aforesaid powers have been granted for valuable consideration and as such shall be irrevocable in nature till such time as any amounts remain due owing or payable under or in respect of or in connection with the Loan/future loan(s), if any, to be obtained by any pursuance of the Borrower and/or under the provisions of the Loan Documents.the

Consequence of an Event of Default. 8.1 a) On and at any time after the occurrence of an Event of Default, IHFL Bank may, with or without any by notice to any of the Borrower(s)and with or without the intervention of the courtBorrower/arbitrator, Co-Borrower(s): (i) cancel/recall the Loan whereupon the Borrower's Dues outstanding Loan along with interest, additional interest, delayed interest, costs, charges and expenses shall become immediately repayable/payable by the Borrower/Co-Borrower(s); and/or and/or (ii) initiate/exercise any or all of its rights, actions, remedies and powers under the Loan Documents and/or applicable lawsthis Agreement; and/or and/or (iii) enforce, allot, sell, invoke, deliver, deal with, take possession, convey, transfer, assign, lease, sub-lease, encumber and/or and/ or dispose off in any manner (including by private treaty and/or auction)manner, on such terms and conditions including the sale/transfer price any or all of the Security or any part/unit thereof as deemed fit by IHFL/security, any/ all/part of the Security including the guarantees and/or the demand promissory notes, and/or do such other things in relation to and/or with respect to the Security (any part thereof) which may be permitted under law. If the net sum realized through the enforcement/sale/ transfer of Security is insufficient to cover the Borrower's Dues, then without prejudice to the other rights and remedies of IHFL under the Loan Documents and/or in law, the Borrower agree(s) and undertake(s) to pay to IHFL forthwith at IHFL's demand such amount as will make up the shortfall. The decision made by IHFL with respect to any matter under the Loan Documents shall be final and binding on the Borrowerguarantee(s). 8.2 b) If any Event of Default or any event which, after the notice or lapse of time or both would constitute an Event of Default shall have happened, the Borrower Borrower/CoBorrower(s) shall forthwith give IHFL the Bank notice thereof in writing specifying such Event of Default, or such other event constituting to an Event of Defaultevent. The Borrower Borrower/Co-Borrower(s) shall also promptly inform IHFL the Bank if and when any statutory notice of winding-winding- up under the provisions of the applicable laws ▇▇▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇ any other law or of any suit or legal process intended to be filed / initiated against the Borrower Borrower/Co- Borrower(s), is received by the Borrower/Co-Borrower(s). On the question whether any of the above events/circumstances has occurred/ happened, the decision of IHFL the Bank shall be final, conclusive and binding on the Borrower. However, IHFL will act in a reasonable manner while exercising any such discretion given to IHFL under this Agreement. /Co- Borrower(s) The rights, powers and remedies given to IHFL the Bank by this Agreement shall be in addition to all rights, rights powers and remedies given to IHFL the Bank by virtue of any other security, statute or rule of law. IHFL The Bank may exercise a IHFL's the Bank’s lien or right of set-off with respect to any obligation of the Borrower Borrower/Co-Borrower(s) to IHFL the Bank in the same manner as if the obligation were unsecured and shall have a lien on all Property property or securities of the Borrower Borrower/Co-Borrower(s) in IHFLLender's possession or custody whether for safe-safe- keeping or otherwise. Without prejudice to what is stated hereinabove, the Parties Borrower/CoBorrower(s) hereby expressly agree and confirm that in the event of the Borrower Borrower/Co-Borrower(s) failing to pay the Borrower's Dues or on happening outstanding amount of an Event of Defaultthe Loan, in addition to any General or Specific Lien to which IHFL the Bank may be entitled by law, IHFL shallthe Bank, without prejudice to any of its specific rights under the Loan Documents, this Agreement shall be at liberty to apply any other money or amounts standing to the credit of the Borrower Borrower/ Co-Borrower(s) in any account (including fixed deposit account) with IHFL the Bank in or towards Repayment repayment of the Borrower's Duesoutstanding amount of the Loan, without any notice to the Borrower/Co-Borrower(s), on happening of any Event of Default or if upon demand by the Bank, the Loan is not repaid within the prescribed time. In case of any deficit/shortfall, the deficit/shortfall deficit amount may be recovered by IHFL the Bank from the Borrower. The Borrower hereby agree and hereby authorise IHFL, and the Borrower shall cause the other Borrower to agree and authorise IHFL, that (a) IHFL shall be entitled to disclose the credit information and other related/relevant information of the Borrower to the Reserve Bank of India, credit information company (e.g. CIBIL and/or other similar entitiesCo-Borrower(s), statutory /regulatory authorities / bodies, IHFL's banks/financial institutions and other persons/bodies if so required by any of them under, inter alia, any law, regulations, guidelines and/or circulars and/or pursuant to/in connection with the provisions of the Loan Documents; (b) in case any of the Borrower commit(s) default in the payment/repayment of the Borrower's Dues (or part thereof) and/or upon occurrence of an Event of Default under the Loan Documents, IHFL, the Reserve Bank of India and/or credit information company will have an unqualified right to disclose or publish the name(s) of the Borrower and its/their partners or directors as defaulter(s) in such manner and through such medium as IHFL, the Reserve Bank of India and/or the credit information company in their absolute discretion may think fit; and/or (c) IHFL shall be entitled to use/utilize the credit information and other related/relevant information of the Borrower for the purposes of or in connection with the Loan/future loan(s), if any, to be obtained by any of the Borrower and/or under the provisions of the Loan Documents.