ONLINE TRANSACTIONS. For ease of operation of the Borrower, Borrower shall have the option of applying for further facilities provided by the Lender using online secure platforms as may be specified by the Lender (hereinafter referred to as "Online Facility"). The Facility shall be extended to the to the Borrower complying with the Lender's credit parameters and submitting all documents/information as may be required by Lender in such form as may be specified by the Lender from time to time. The Lender may in its sole discretion reject the application for the Facility/loan by the Borrower. • It shall be the sole responsibility of the Borrower to ensure that the Access Codes are not compromised or shared with any unauthorized users. • The Borrower expressly agrees and acknowledges to have read and understood the terms applicable for the credit Facility (on line or off line) and be bound by such terms and conditions (as amended by the Lender from time to time) at all times during the tenure of such Facility. • The Lender shall have no obligation to verify the authenticity of any transaction/instruction received or purported to have been received from the Borrower through the Online Facility or purporting to have been sent by the Borrower other than by means of verification of the Access Codes. • All the records of the Lender with respect to the online request for facility arising out of the use of the Online Facility shall be conclusive proof of the genuineness and accuracy of the transaction. While the Lender and its affiliates shall endeavour to carry out the instructions promptly, they shall not be responsible for any delay in carrying on the instructions due to any reason whatsoever, including due to failure of operational systems or any requirement of law. • Borrower can check the availability of a pre-approved offer that may be made by the Lender through Online Facility. Any pre-approved offer by the Lender does not constitute a grant of the Facility to the Borrower and shall be subject to the terms as may be specified by Lender from time to time. • Borrower acknowledges and accepts that the Lender may permit/allow anybody quoting the correct Access Codes and other details to conduct the type of operations which are permitted under the Online Facility.
Appears in 1 contract
Sources: Loan Agreement
ONLINE TRANSACTIONS. For ease of operation of the Borrower, Borrower shall have the option of applying for further facilities provided by the Lender using online secure platforms as may be specified by the Lender (hereinafter referred to as "Online Facility"). The Facility shall be extended to the to the Borrower complying with the Lender's credit parameters and submitting all documents/information as may be required by Lender in such form as may be specified by the Lender from time to time. The Lender may in its sole discretion reject the application for the Facility/loan by the Borrower. • It shall be the sole responsibility of the Borrower to ensure that the Access Codes are not compromised or shared with any unauthorized users. • The Borrower expressly agrees and acknowledges to have read and understood the terms applicable for usage of the credit Online Facility (on line or off line) and be bound by such terms and conditions (as amended by the Lender from time to time) at all times during the tenure of such Facility. • The Lender shall have no obligation to verify the authenticity of any transaction/instruction received or purported to have been received from the Borrower through the Online Facility or purporting to have been sent by the Borrower other than by means of verification of the Access Codes. • All the records of the Lender with respect to the online request for facility arising out of the use of the Online Facility shall be conclusive proof of the genuineness and accuracy of the transaction. While the Lender and its affiliates shall endeavour to carry out the instructions promptly, they shall not be responsible for any delay in carrying on the instructions due to any reason whatsoever, including due to failure of operational systems or any requirement of law. • Borrower can check the availability of a pre-approved offer that may be made by the Lender through Online Facility. Any pre-approved offer by the Lender does not constitute a grant of the Facility to the Borrower and shall be subject to the terms as may be specified by Lender from time to time. • Borrower acknowledges and accepts that the Lender may permit/allow anybody quoting the correct Access Codes and other details to conduct the type of operations which are permitted under the Online Facility.. Notices: Any notice or request to be given or made by a party to the other shall be in writing. Such notice or request shall be deemed to have been duly received by the party to whom it is addressed if it is given or made at the address specified below or at such other address as may be agreed from time to time. For the Lender: ▇▇. ▇, ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇, near Domlur, Bengaluru, Karnataka 560071, INDIA. For the Borrower: The address as stated in the Application Form. The Lender may also agree to act on the basis of a request made via registered email ID of the Borrower. Provided however that a notice or communication to any Borrower shall be deemed to be a notice or communication to other Borrower(s). Any and all claims and disputes arising out of or in connection with the Transaction Documents or its performance shall be subject to the laws of India and shall be settled by arbitration by a single arbitrator to be appointed by the Lender. The seat of arbitration shall be in Bengaluruand the language, English. The arbitration shall be conducted under the provisions of the Arbitration and Conciliation Act, 1996 or any statutory modification or any amendments or re-enactment thereof for the time being in force and the award of such arbitrator shall be final and binding upon the Borrower and the Lender. Subject to the foregoing, the courts of Bengalurushall have the exclusive jurisdiction on all claims or disputes arising under any of the Transaction Document. The Lender shall, without prejudice to any of its specific rights under any other agreements with the Borrower, at its sole discretion, be at liberty to apply any other money, amounts, securities and other property of the Borrower (whether singly or jointly with another or others) in possession of the Lender or any of its subsidiary/ affiliate/ associate company in or towards payment of the dues under Facility granted under the Transaction Documents. The borrower can avail Online Facility on the Platform. The Lender shall be entitled at the sole risk and cost of the Borrower to engage one or more person(s) to collect the Borrower's dues and shall further be entitled to share such information, facts and figures pertaining to the Borrower as the Lender deems fit. The Lender may also delegate to such person(s) the right and authority to perform and execute all such acts, deeds, matters and things connected herewith, or incidental thereto, as the Lender may deems fit. The Borrower recognizes, accepts and consents to such delegation. The Lender shall have the right to disclose or publish any information regarding the Borrower or guarantor(s) (if any) and any information and documents that they might possess from time to time to:
Appears in 1 contract
Sources: Loan Agreement