Common use of Upstamping Clause in Contracts

Upstamping. Where the Bank has agreed to provide any additional financing under the Facility to the Customer such that the indebtedness secured by the Security Documents shall exceed the indebtedness stated in Section 6.02 above, the Security Documents shall for the purpose of stamp duty be deemed to be a new and separate instrument bearing date on the day on which such credit is made to the extent that such additional credit is in excess of the indebtedness stated in Section 6.02 above and the Customer shall bear the cost of any additional stamp duty as a result. Item No. Subject Mater Particulars 1 Address of Bank and Address for Service 2 Name and Address of Customer Name: NRIC No.: Residential Address: 3 Facility: a. Bank’s Purchase Price b. Bank’s Selling Price As per the Letter of Offer As per the Letter of Offer 4 Date of the Letter(s) of Offer Date: 5 Property(ies)

Appears in 3 contracts

Sources: Facility Agreement, Facility Agreement, Facility Agreement