Post-Dated Cheques (PDCs) definition
Post-Dated Cheques (PDCs) means the post-dated cheque(s) drawn by the Borrower in favor of the Lender, towards discharge of the EMIs, in the manner and upon the terms and conditions specified in Clause 5 (Mode of Payment, Time, Place) below;
Examples of Post-Dated Cheques (PDCs) in a sentence
Nothing withstanding above, as remedy of the event being the Loan repayment tenure exceeds Bus Operation agreement period, on account of early termination due to event of defaults or force majeure events or whatsoever, the Borrower(s) has / have agreed to issue Post-Dated Cheques (PDCs) for entire tenure of loan to repay the balanced Loan amount and interest thereon, such PDCs shall be deemed to have been given for adequate consideration already received by the Borrower(s).