TERMSAPPLICABLETOTHEBORROWER Clause Samples

TERMSAPPLICABLETOTHEBORROWER. 4.1 121 Business Finance will conduct an assessment on the Borrower’s application to borrow funds and during the process, 121 Business Finance may contact any relevant authorities or private companies to ascertain, verify and confirm relevant information about the Borrower including but not limited to its legal, operational or credit history. The borrower hereby gives121 Business Finance its express permission to do so. 4.2 Unless 121 Business Finance is required to by the Law or has received prior written permission by the Borrower, 121 Business Finance will not reveal or disclose the documents provided by the Borrower to any third party. 4.3 Upon conclusion of 121 Business Finance’s assessment, 121 Business Finance will inform the Borrower of the outcome of the application, and if successful, the proposed terms and conditions of the proposed financial dealing to be facilitated. 4.4 Upon the Borrower’s consent to the proposed terms and conditions, 121 Business Finance will invite prospective Lenders to commit funds to the Borrower. Please be informed that such facility request does not constitute an agreement to extend capital to the Borrower. It is only an agreement to open the request to the Lenders to commit funds to the facility. This facility request is not an offer; it constitutes an invitation totreat. 4.5 The Borrower may elect whether or not to disclose its name in the facility request. The facility request will remain open for up to 3 calendar days, or for such period as may be agreed between Borrower and 121 Business Finance , starting from the day that the facility request is first publicised to Lenders (the “Open Request Period”). At the expiry of the Open Request Period, if the total amount of funds pledged by the Lenders in aggregate toward the facility request is below 50% or Rs 5 Lac of the requested facility amount, whichever is lower, the facility request shall be deemed to have expired and incapable of being accepted by the Borrower. The Borrower may withdraw the facility request at any time during the Open Request Period as long as the total amount pledged is below 50% of the requested facility amount. 4.6 Once the Lenders pledge a minimum of 50% or Rs 5 Lac of the requested facility amount, whichever is lower, the Borrower will receive notification from 121 Business Finance. Upon receiving such notification: a) If the Borrower had elected to disclose its name in the facility request, the Borrower may at this point elect to either acc...