Common use of Change of Use Clause in Contracts

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

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 purpose, in addition to any other action which the Bank might takeuse, the Bank shall be entitled to charge, in at its sole discretion, such higher rate of interest as it might fix in 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 residential use of the property. If the property is used for any purpose other than residential purpose, in addition to any other action action, which the Bank might take, the Bank shall be entitled to charge, in its sole discretion, such higher rate of interest as it might fix in the circumstances of the case.

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

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