Common use of Cross-Liability Clause in Contracts

Cross-Liability. Notwithstanding anything to the contrary contained in any agreement(s), the Borrower expressly accept(s) and agree(s) that if a breach/default/an event of default occurs under any agreement(s) (including the Loan Documents) between (a) the Borrower and/or any group entity/entities/associate company of the Borrower and (b) IHFL and/or any of the INDIABULLS Companies, then such a breach/default/ event of default under such agreement(s) shall also be an Event of Default under the Loan Documents and vice versa and then in such event IHFL and/or any of the INDIABULLS Companies shall, without prejudice to any of its/their specific rights under each of the agreements, be absolutely entitled to exercise all or any of its/their rights (including Loan recall) under any of such agreements (including the Loan Documents) at the sole discretion of IHFL and/or the INDIABULLS Companies. The term `INDIABULLS Companies' shall mean and include IHFL, the promoter(s) of IHFL and/or any other associate/group companies/entities of IHFL, present or future.

Cross-Liability. Notwithstanding anything to the contrary contained in any agreement(s), the Borrower Borrower(s) expressly accept(s) and agree(s) that if a breach/default/an event of default occurs under any agreement(s) (including the Loan Documents) between (a) the Borrower Borrower(s) and/or any group entity/entities/associate company of the Borrower Borrower(s) and (b) IHFL and/or any of the INDIABULLS Companies, then such a breach/default/ event of default under such agreement(s) shall also be an Event of Default under the Loan Documents and vice versa and then in such event IHFL and/or any of the INDIABULLS Companies shall, without prejudice to any of its/their specific rights under each of the agreements, be absolutely entitled to exercise all or any of its/their rights (including Loan recall) under any of such agreements (including the Loan Documents) at the sole discretion of IHFL and/or the INDIABULLS Companies. The term `INDIABULLS Companies' shall mean and include IHFL, the promoter(s) of IHFL and/or any other associate/group companies/entities of IHFL, present or future.

Cross-Liability. Notwithstanding anything to the contrary contained in any agreement(s), the Borrower expressly accept(s) and agree(s) that if a breach/default/an event of default occurs under any agreement(s) (including the Loan Documents) between (a) the Borrower and/or any group entity/entities/associate company of the Borrower and (b) IHFL and/or any of the INDIABULLS Companies, then such a breach/default/ event of default under such agreement(s) shall also be an Event of Default under the Loan Documents and vice versa and then in such event IHFL and/or any of the INDIABULLS Companies shall, without prejudice to any of its/their specific rights under each of the agreements, be absolutely entitled to exercise all or any of its/their rights (including Loan recall) under any of such agreements (including the Loan Documents) at the sole discretion of IHFL and/or the INDIABULLS Companies. The term `INDIABULLS Companies' ’ shall mean and include IHFL, the promoter(s) of IHFL and/or any other associate/group companies/entities of IHFL, present or future.

Cross-Liability. Notwithstanding anything to the contrary contained in any agreement(s), the Borrower Borrower(s) expressly accept(s) and agree(s) that if a breach/default/an event of default occurs under any agreement(s) (including the Loan Documents) between (a) the Borrower Borrower(s) and/or any group entity/entities/associate company of the Borrower Borrower(s) and (b) IHFL and/or any of the INDIABULLS Companies, then such a breach/default/ event of default under such agreement(s) shall also be an Event of Default under the Loan Documents and vice versa and then in such event IHFL and/or any of the INDIABULLS Companies shall, without prejudice to any of its/their specific rights under each of the agreements, be absolutely entitled to exercise all or any of its/their rights (including Loan recall) under any of such agreements (including the Loan Documents) at the sole discretion of IHFL and/or the INDIABULLS Companies. The term `INDIABULLS Companies' ’ shall mean and include IHFL, the promoter(s) of IHFL and/or any other associate/group companies/entities of IHFL, present or future.