BRIEF PROCEDURE TO BE FOLLOWED FOR RECOVERY OF OVERDUES Sample Clauses

BRIEF PROCEDURE TO BE FOLLOWED FOR RECOVERY OF OVERDUES. On occurrence of any event of default as mentioned in the Loan Agreement and other Loan Documents (“Event of Default”), all outstanding amounts owed by the Borrower to BHFL shall become payable forthwith and BHFL reserves the right to undertake such necessary processes/measures to enforce its rights under the Loan Agreement and other Loan Documents including but not limited to charging Default Interest for the delayed payment, recovery of over dues. Further, in case of a secured loan, BHFL will be entitled to enforce the Security in accordance with the remedies available under the Law. BHFL also reserves the right to: • Accelerate the repayment of the Outstanding Dues including the Loan. • Place the Loan on demand or declare all Outstanding Dues payable by the Borrower in respect of the Loan to be due and payable immediately. • Charge default Interest at the Penal Interest Rate and any other applicable penal charges including Bounce Charges. • Exercise such other rights and remedies as may be available to the Lender under applicable law during the pendency of the Loan. • Stipulate such other condition/s or take such other action/s as the Lender deems fit; • Revise the applicable Interest Rate; and/or • Has the right to disclose all the loan account details of the Borrower to RBI, NHB, stock exchange, Information Utility, auditors, CIBIL and other information bureaus and any other Statutory/Regulatory authority and/or any other agency authorised in this behalf pursuant to any legal/regulatory requirements. • At its sole discretion, publish the name, address, photograph, Security details (if applicable) and such other information of the Borrower as the Lender deems fit, in electronic, print and social media, and that such publication shall also include the fact of such Event of Default; and the Borrower agrees that the Lender is not responsible or liable for any harm and/ or damage caused to the Borrower, whether monetary or otherwise, because of the publication of such information. • Take possession of the Property, if any, on which Security is so created whether by itself or through any of the recovery agents or attorneys as may be appointed by the Lender.
Sample 1Sample 2Sample 3See All (22)
AutoNDA by SimpleDocs
BRIEF PROCEDURE TO BE FOLLOWED FOR RECOVERY OF OVERDUES.  Customers are explained the repayment process of the loan in respect of, tenure, periodicity, amount and mode of repayment of the loan. No notice, reminder or intimation is given to the customer regarding his/her obligation to pay the EMI or PEMI regularly on due date.  On non-payment of Pre-EMI/ EMI by the due dates, MBIND and/ or appointed Business Associate ……………………………………………………………. (“BA”) shall remind the customers by making telephone calls, sending written intimations by post and electronic medium or by making personal visits by MBIND’s/ BA's authorized personnel at the addresses provided by the customer. Costs of such calls/ communication/ visits shall be recovered from the customer.  Notwithstanding the procedure stated herein, it shall be the liability of the customer to ensure that the Pre-EMI/ EMIs are regularly paid on the due dates.  Credit information relating to any customer's account is provided to the CRIF Highmark Credit Information Services Pvt. Ltd. (CRIF High Mark) or any other licensed bureau on a monthly basis. To avoid any adverse impact on the credit history with CRIF High Mark, it is advised that the customer should ensure timely payment of the amount due on the loan amount.  The recovery process of enforcement of mortgage/securities, including but not limited to, taking possession and sale of the mortgaged property in accordance with the procedure prescribed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) or under any other law, is followed purely as per the directions laid down under the respective law.  Intimation/ Reminders/ Notice(s) are given to customer prior to initiating steps for recovery of overdues, under the Negotiable Instruments Act, Civil Suit as well as under the SARFAESI Act.
Sample 1
BRIEF PROCEDURE TO BE FOLLOWED FOR RECOVERY OF OVERDUES. On the occurrence of Event of Default as mentioned in the Loan Agreement, the Borrower to be sent reminder from time to time for payment of the outstanding amount on his loan account by Telephone, E-mail, Courier, SMS and/or through third parties appointed for collection purposes to remind, follow-up and collect dues. The Collection methodology broadly includes the following:
Sample 1
BRIEF PROCEDURE TO BE FOLLOWED FOR RECOVERY OF OVERDUES. Delinquency management commences with pre-delinquent actions based on early warning triggers and includes xxxxxxx reminders to the borrower from time to time for payment of the outstanding amount on the loan account through various options viz., post, fax, telephone, e -mail, sms and/or through third parties appointed for collection purposes to remind, follow-up and collect dues. The Collection methodology broadly includes the following:
Sample 1
BRIEF PROCEDURE TO BE FOLLOWED FOR RECOVERY OF OVERDUES. On occurrence of any event of default as mentioned in the Loan Agreement (“Events of Default”), all outstanding amounts by the Borrower to CLIX shall become payable forthwith and CLIX reserves the right to undertake all such necessary processes/measures to enforce its rights under the Loan Agreement.
Sample 1

Related to BRIEF PROCEDURE TO BE FOLLOWED FOR RECOVERY OF OVERDUES

  • Submission of Certified Payroll Transcripts for Public Works Contracts Only Contractors and Subcontractors on public works projects must submit monthly payroll transcripts to the Authorized User that has prepared or directs the preparation of the plans and specifications for a public works project, as set forth in the Bid Specifications. For Mini-Bid solicitations, the payroll records must be submitted to the entity preparing the agency Mini-Bid project specification. For “agency specific” Bids, the payroll records should be submitted to the entity issuing the purchase order. For all other OGS Centralized Contracts, such records should be submitted to the individual agency issuing the purchase order(s) for the work. Upon mutual agreement of the Contractor and the Authorized User, the form of submission may be submitted in a specified disk format acceptable to the Department of Labor provided: 1) the Contractor/Subcontractor retains the original records; and, (2) an original signed letter by a duly authorized individual of the Contractor or Subcontractor attesting to the truth and accuracy of the records accompanies the disk. This provision does not apply to Article 9 of the Labor Law building services contracts.

  • Provision for the Recovery of Funding The HSP will make reasonable and prudent provision for the recovery by the LHIN of any Funding for which the conditions of Funding set out in section 4.5 are not met and will hold this Funding in accordance with the provisions of section 4.6 until such time as reconciliation and settlement has occurred with the LHIN. Interest earned on Funding will be reported and recovered in accordance with section 4.6.

  • Special Rules for New Accounts If you are a new member, the following special rules will apply during the first 30 days your account is open. Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,525.00 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and federal, state, and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be made payable to you. The excess over $5,525.00 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S Treasury check) is not made in person to one of our employees, the first $5,525.00 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available on the ninth business day after the day of your deposit.

  • Invoicing for Charges Against the Judicial Council’s Master Account A. The Contractor shall establish a Master Account for the Judicial Council’s charges provided for under the exhibits of this Agreement.

  • Suspension and Termination of Proceedings 1. Where the Parties agree, the arbitral tribunal may suspend its work at any time for a period not exceeding 12 months from the date of such agreement. If the work of the arbitral tribunal has been suspended for more than 12 months, the authority for establishment of the tribunal shall lapse unless the Parties agree otherwise.

  • PROCEDURE TO CANCEL AGREEMENT BY THE STUDENT ALL requests for cancellation of the housing agreement must be IN WRITING OR REPRODUCIBLE ELECTRONIC FORMAT and submitted to UCF DHRL at the address for official communications shown in this agreement.

  • C3 Recovery of Sums Due C3.1 Wherever under the Contract any sum of money is recoverable from or payable by the Contractor to the Authority (including any sum which the Contractor is liable to pay to the Authority in respect of any breach of the Contract), the Authority may unilaterally deduct that sum from any sum then due, or which at any later time may become due to the Contractor from the Authority under the Contract or under any other agreement or contract with the Authority or the Crown.

  • Changes after Provision for Redemption No vote or consent of the holders of Designated Preferred Stock shall be required pursuant to Section 7(c) above if, at or prior to the time when any such vote or consent would otherwise be required pursuant to such Section, all outstanding shares of the Designated Preferred Stock shall have been redeemed, or shall have been called for redemption upon proper notice and sufficient funds shall have been deposited in trust for such redemption, in each case pursuant to Section 5 above.

  • Effect of Attachment or Sequestration of Accounts You shall not be liable for refusing to obey any orders given by or for Me with respect to any account(s) that has or have been subject to an attachment or sequestration in any legal proceeding against Me, and You shall be under no obligation to contest the validity of any such attachment or sequestration.

  • Important Information About Procedures for Opening a New Account To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial organizations to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, you are required to provide your name, residential address, date of birth, and identification number. We may require other information that will allow us to identify you.

Time is Money Join Law Insider Premium to draft better contracts faster.