Common use of Liability of Borrower to be Joint and Several Clause in Contracts

Liability of Borrower to be Joint and Several. Where the Loan is provided to more than one Borrower and the loan amount is disbursed to any one of the Borrowers, then it would amount to disbursement to all the Borrowers and Co- Borrowers. Notwithstanding anything herein stated, the liability of the Borrower to repay the Loan together with interest, etc. and to observe the terms and conditions of this Agreement/and any other Agreement's, document's that may have been or may be executed by the Borrower with the Bank in respect of this Loan or any other Loan or Loans is joint and several.

Liability of Borrower to be Joint and Several. Where the Loan is provided to more than one Borrower and the loan amount is disbursed to any one of the Borrowers, then it would amount to disbursement to all the Borrowers and Co- Co-Borrowers. Notwithstanding anything herein stated, the liability of the Borrower to repay the Loan together with interest, etc. and to observe the terms and conditions of this Agreement/and any other AgreementotherAgreement's, document's that may have been or may be executed by the Borrower with the Bank withAUSFB in respect of this Loan or any other Loan or Loans is joint and several.