Common use of REPOSSESSION OF ASSET Clause in Contracts

REPOSSESSION OF ASSET. To take possession of the hypothecated assets from wheresoever it may be and remove the hypothecated asset including all accessories, bodywork and fittings and for the said purpose, it shall be lawful for the Bank or the Bank authorized representatives, servants, officers and agents forthwith or at any time to enter upon the premises, or garage or godown where the hypothecated assets shall be lying or kept and to take possession or recover or receive the same and if necessary to break open such place of storage; the Bank will be within its rights to use a tow-van to carry away the assets. Any damage to the land or building caused by removal or the asset shall be the sole responsibility of the Borrower(s).

REPOSSESSION OF ASSET. To take possession of the hypothecated assets from wheresoever it may be and remove the hypothecated asset including all accessories, bodywork and fittings and for the said purpose, it shall be lawful for the Bank or the Bank authorized representatives, servants, officers and agents forthwith or at any time to enter upon the premises, or garage or godown where the hypothecated assets shall be lying or kept and to take possession or recover or receive the same and if necessary to break open such place of storage; the Bank will be within its rights to use a tow-van to carry away the Hypothecated assets. Any damage to the land or building caused by removal or of the Hypothecated asset shall be the sole responsibility of the Borrower(s).

REPOSSESSION OF ASSET. To take possession of the hypothecated assets from wheresoever it may be and remove the hypothecated asset including all accessories, bodywork and fittings and for the said purpose, it shall be lawful for the Bank CFIL or the Bank CFIL authorized representatives, servants, officers and agents forthwith or at any time to enter upon the premises, or garage or godown where the hypothecated assets shall be lying or kept and to take possession or recover or receive the same and if necessary to break open such place of storage; the Bank CFIL will be within its rights to use a tow-van to carry away the assets. Any damage to the land or building caused by removal or the asset shall be the sole responsibility of the Borrower(s).

REPOSSESSION OF ASSET. To take possession of the hypothecated assets from wheresoever it may be and remove the hypothecated asset including all accessories, bodywork and fittings and for the said purpose, it shall be lawful for the Bank CFIL or the Bank CFIL authorized representatives, servants, officers and agents forthwith or at any time to enter upon the premises, or garage or godown where the hypothecated assets shall be lying or kept and to take possession or recover or receive the same and if necessary to break open such place of storage; the Bank CFIL will be within its rights to use a tow-van to carry away the Hypothecated assets. Any damage to the land or building caused by removal or of the Hypothecated asset shall be the sole responsibility of the Borrower(s).