Common use of Change of Use Clause in Contracts

Change of Use. The Borrower shall not change the residential use of the house/property. If the house/property is used/allowed to be used by the Borrower for any purpose other than residential use, the Bank shall be entitled to charge, at its sole discretion, such higher rate of interest as it might fix from the circumstances of the case, in addition to any other action which Bank might take against the Borrower.

Change of Use. The Borrower shall not change the residential use of the house/property. If the house/property is used/allowed to be used by the Borrower for any purpose other than residential usepurpose, in addition to any other action which the Bank might take, the Bank shall be entitled to charge, at in its sole discretion, such higher rate of interest as it might fix from in the circumstances of the case, in addition to any other action which Bank might take against the Borrower.

Change of Use. The Borrower shall not change the residential use of the house/property. If the house/property is used/allowed to be used by the Borrower for any purpose other than residential usepurpose, in addition to any other action which the Bank might take, the Bank shall be entitled to charge, at in its sole discretion, such higher rate of interest as it might fix from fix in the circumstances of the case, in addition to any other action which Bank might take against the Borrower.

Change of Use. The Borrower shall not change the residential use of the house/property. If property if the house/property is used/allowed to be used by the Borrower for any purpose other than residential use, the use Bank shall be entitled to charge, at charge in its sole discretion, discretion such higher rate of interest as it might fix from the circumstances circumstance of the case, in addition to any other action which Bank might take against the Borrower.

Change of Use. The Borrower shall not change the residential use of the house/property. If the house/property is used/allowed to be used by the Borrower for any purpose other than residential usepurpose, in addition to any other action, which the Bank might take, the Bank shall be entitled to charge, at in its sole discretion, such higher rate of interest as it might fix from in the circumstances of the case, in addition to any other action which Bank might take against the Borrower.