Common use of Processing Charges Clause in Contracts

Processing Charges. The Borrower shall be liable to pay to the Lender processing charges as stated in the Schedule at the time of and together with the application for Loan. The said amount of processing charges shall be refundable to the Borrower only in the event the borrower notifies its intention for not availing of the Loan prior to the Lender intimating its approval to the Borrower for grant of the Loan.

Processing Charges. The Borrower shall be liable to pay to the Lender processing charges as stated in the Schedule at the time of and together with the application for Loan. The said amount of processing charges shall be refundable to the Borrower borrower only in the event the borrower Borrower notifies its intention for not availing of the Loan prior to the Lender intimating its approval to the Borrower borrower for grant of the Loan.