Common use of BANK’S RIGHTS Clause in Contracts

BANK’S RIGHTS. The Bank shall, in relation to the Loan: a) have the sole right at any time during the tenure of this Agreement to revise/reschedule the repayment terms/ amount of EMI o r of any other amounts outstanding there under and the Borrower shall make all future repayments to the Bank according to such revi sed schedule on being notified by the Bank of such revision or reschedulement; b) have the sole right to amend any of the terms and conditions of this Agreement including but not limited to revision of Inter est Rate (including the Default Interest Rate), periodicity of compounding interest, method of effecting credit of the repayments without assigning any reason or notifying the Borrower and the Borrower agree that such revision shall become applicable from date of such revision in the records of t he Bank; have the right to receive and adjust any payment/s that it may receive as an assignee of the insurance in relation to the Vehicle towards amounts due and/or payable by the Borrower under this Agreement;

BANK’S RIGHTS. The Bank shall, in relation to the Loan: a) have the sole right at any time during the tenure of this Agreement to revise/reschedule the repayment terms/ amount of EMI o r or of any other amounts outstanding there under and the Borrower shall make all future repayments to the Bank according to such revi sed revised schedule on being notified by the Bank of such revision or reschedulement; b) have the sole right to amend any of the terms and conditions of this Agreement including but not limited to revision of Inter est Interest Rate (including the Default Interest Rate), periodicity of compounding interest, method of effecting credit of the repayments without assigning any reason or notifying the Borrower and the Borrower agree that such revision shall become applicable from date of such revision in the records of t he the Bank; have the right to receive and adjust any payment/s that it may receive as an assignee of the insurance in relation to the Vehicle towards amounts due and/or payable by the Borrower under this Agreement;