Common use of Disbursal of the facility Clause in Contracts

Disbursal of the facility. a. The loan will be disbursed to the borrower in one or more instalment(s) as may be required by the borrower. b. The disbursement may be direct to the supplier or by credit to Savings Bank or Current Account of the Borrower, depending upon the purpose for which the loan is sanctioned. c. The borrower shall give at least three clear days prior notice of drawal of any instalment of the loan which advise may be waived by the Bank at its option. d. In the case of joint borrowing by more than one person, the person specified under Schedule I (f) of this agreement shall draw the amount in stages as stipulated. ARTICLE II REPAYMENT OF LOAN, INTEREST, OTHER CHARGES & EVENT OF DEFAULT

Disbursal of the facility. a. The loan will be disbursed to the borrower Borrower(s) in one or more instalment(s) as may be required by the borrowerBorrower(s). b. The disbursement may be direct to the supplier or by credit crediting to Savings Bank or Current Account of the BorrowerBorrower(s), depending upon the purpose for which the loan is sanctioned. c. The borrower Borrower(s) shall give at least three clear days prior notice of drawal drawl of any instalment of the loan which advise may be waived by the Bank at its option. d. In the case of joint borrowing by more than one person, the person specified under Schedule I (f) of this agreement Agreement shall draw the amount in stages as stipulated. ARTICLE II – REPAYMENT OF LOAN, INTEREST, OTHER CHARGES & EVENT OF DEFAULT

Disbursal of the facility. a. The loan will be disbursed to the borrower in one or more instalment(s) as may be required by the borrower. b. The disbursement may be direct to the supplier or by credit to Savings Bank or Current Account of the Borrower, depending upon the purpose for which the loan is sanctioned. c. The borrower shall give at least three clear days prior notice of drawal of any instalment of the loan which advise may be waived by the Bank at its option. d. In the case of joint borrowing by more than one person, the person specified under Schedule I (f) of this agreement shall draw the amount in stages as stipulated. ARTICLE II III REPAYMENT OF LOAN, INTEREST, OTHER CHARGES & EVENT OF DEFAULT