Common use of Irregularity Clause in Contracts

Irregularity. Without prejudice to generality of the foregoing the Lender shall also be entitled to charge at its own discretion and the Borrower shall be liable to pay and hereby agrees to pay such enhanced rate of interest on the said Facility Account either on the entire outstanding or the portion thereof as the Lender may fix for any irregularity or any breach of the terms of sanction or hereof by the Borrower and for such period as the irregularity or breach continue or for such time as the Lender may decide it necessary regard being had to the nature of the irregularity or breach provided that the charging and payment of enhanced rate of interest shall be without prejudice to the other rights or remedies of the Lender either hereunder or otherwise or by law to proceed for such irregularity or breach against the Borrower.