Common use of Conditions for Disbursement Clause in Contracts

Conditions for Disbursement. 3.1 Disbursements under the loan shall be made subject to fulfilment and compliance of this Agreement for loan and all other standard documents and writings executed by the borrower(s) and as specified by the Bank, including the following: a) No event of default has occurred or is subsisting; b) The borrower(s) furnishing the evidence that the disbursement requested is required by the borrower(s) for the purpose for which the loan was initially approved. c) The borrower(s) furnishing such documents, evidences and writings as may be required in connection with the requested disbursement; d) No circumstances shall have occurred which in opinion of the Bank may make it impossible for the borrower(s) to fulfil the obligations under documents executed as per Agreement for loan and other standard documents executed by the borrower(s) for availing the loan. e) The borrower(s) delivering the evidence to the Bank’s satisfaction that all consents, approvals and permissions required to avail the loan and to comply with all documentation related to availing the loan including creation of security is completed. f) The borrower(s) having furnished copy of the insurance policy in respect of the property(ies) endorsed in favour of the Bank as loss payee. 3.2 The disbursement shall be deemed to have been made to the borrower(s) on the date of the cheque or the payment advice as the case may be, under which such disbursement shall have been made irrespective of the date on which the disbursement may have been received or in terms of the loan which shall be made by the Bank through a ‘Pay order’ duly crossed and marked ‘A/c payee only’. Therefore, the interest on the loan shall accrue in favour of the Bank from the date of the cheque/payment advice/pay order/transfer by the Bank as the case may be, irrespective of the time taken for the transit/collection/realisation by the borrower(s).

Conditions for Disbursement. 3.1 Disbursements under The obligation on the loan part of Exim Bank to make a disbursement to the Borrower hereunder and maintain the Rupee Loan shall be made subject to fulfilment compliance by the Borrower with the following among other conditions contained in the Rupee Loan Agreement, to the satisfaction of the Exim Bank: (i) the Borrower shall have produced a certified true copy each of the contract, if any, with overseas supplier for import of machinery and compliance equipment, and all related documents and documentary evidence that may be listed in the Letter of Sanction including for arrangements made with bank(s)/financial institution(s) for financing the projected expenditure and the working capital requirements as per the financing plan submitted to Exim Bank; (ii) The Borrower shall have furnished a drawdown schedule to Exim Bank within a period of 30 days from the date of this Agreement for loan indicating the amount(s) of disbursement required and all other standard documents the proposed date(s) thereof, and writings executed shall have complied with the disbursement Procedure prescribed by the borrower(sLender. (iii) and as specified the proposed date for a disbursement hereunder shall be a Business Day failing on or before the Termination Date, unless otherwise agreed by the Exim Bank, including the following: a) No event of default has occurred or is subsisting; b(iv) The borrower(s) furnishing the evidence that Borrower shall have obtained or shall have made arrangements satisfactory to Exim Bank for obtaining all necessary approvals, licences, consents and clearances from the disbursement requested is required by the borrower(s) for the purpose for which the loan was initially approved. c) The borrower(s) furnishing such documentsGovernment, evidences Reserve Bank of India and writings other concerned regulatory and corporate authorities as may be required specified in connection the Letter of Sanction, for the borrowings under the Rupee Loan Agreement, the carrying on of the business of the Borrower as contemplated to be carried on, the implementation of the Project as also for the due execution and delivery of and performance under the Rupee Loan Agreement and documents hereby contemplated and for creation of the Security as herein provided; (v) the Borrower shall have produced to Exim Bank a certificate of the Borrower's Statutory auditors in the form prescribed by Exim Bank certifying to the effect that the aggregate amount of the Rupee Loan facility together with the requested disbursementmoneys borrowed by the Borrower will not exceed the limit on borrowings fixed by its shareholders in terms of the relevant provisions of the Companies Act, 1956; d(vi) No circumstances the Borrower shall have occurred which in opinion of the Bank may make it impossible for the borrower(s) to fulfil the obligations under documents executed as per Agreement for loan created valid Security and other standard documents executed by the borrower(s) for availing the loan. e) The borrower(s) delivering the evidence to the Bank’s satisfaction that all consents, approvals and permissions required to avail the loan and to comply with all documentation related to availing the loan including creation of security is completed. f) The borrower(s) having furnished copy of the insurance policy in respect of the property(ies) endorsed Security Documents in favour of Exim Bank and, wherever applicable, shall have produced evidence satisfactory to Exim Bank of the filing of particulars of creation of charge(s) constituting the Security with the concerned registering authorities; (vii) the Borrower shall have furnished/procured all necessary documents in form and substance acceptable to Exim Bank and shall have also fulfilled all condition(s) precedent to disbursement including payment offer, charges and other dues, if any, as loss payee. 3.2 The disbursement shall be deemed to may have been stipulated by Exim Bank in the Letter of Sanction; (viii) All representations and warranties made to by the borrower(s) Borrower in its application for the Rupee Loan facility and in the Rupee Loan Agreement shall have remained true and correct on the date of the cheque or the payment advice disbursement hereunder as the case may be, under which such disbursement if each of them shall have been made irrespective of repeated herein with respect to the facts and circumstances existing on the date on which thereof; (ix) no Event of Default and no event which, with the disbursement may giving of notice or lapse of time or both would become an Event of Default, shall have been received or in terms of the loan which shall happened and be made by the Bank through a ‘Pay order’ duly crossed and marked ‘A/c payee only’. Therefore, the interest on the loan shall accrue in favour of the Bank from the date of the cheque/payment advice/pay order/transfer by the Bank as the case may be, irrespective of the time taken for the transit/collection/realisation by the borrower(s)continuing.

Conditions for Disbursement. 3.1 Disbursements under the loan Loan shall be made subject to fulfilment and compliance of this Agreement for loan and all other standard documents and writings executed by the borrower(sBorrower(s) and as specified by the Bank, including the following: a) No event Event of default Default has occurred or is subsisting; b) The borrower(sBorrower(s) furnishing the evidence that the disbursement requested is required by the borrower(sBorrower(s) for the purpose for which the loan Loan was initially approved.; c) The borrower(sBorrower(s) furnishing such documents, evidences and writings as may be required in connection with the requested disbursement; d) No circumstances shall have occurred which in opinion of the Bank may make it impossible for the borrower(sBorrower(s) to fulfil the obligations under documents executed as per this Agreement for loan and other standard documents executed by the borrower(sBorrower(s) for availing the loanLoan. e) The borrower(sBorrower(s) delivering the evidence to the Bank’s satisfaction that all consents, approvals and permissions required to avail the loan Loan and to comply with all documentation related to availing the loan Loan including creation of security is completed. f) The borrower(sBorrower(s) having furnished copy of the insurance policy in respect of the property(ies) endorsed in favour of the Bank as loss payeefinancier/mortgagee. 3.2 The disbursement Disbursement shall be deemed to have been made to the borrower(sBorrower(s) on the date of actual disbursement of the loan on the Bank’s system or the date of the cheque or the payment advice as the case may be, under which such disbursement shall have been made irrespective of the date on which the disbursement may have been received or in terms of the loan which shall be made by the Bank through a ‘Pay order’ duly crossed and marked ‘A/c payee only’whichever is earlier. Therefore, the interest on the loan shall accrue in favour of the Bank from the date of the disbursement or cheque/payment advice/pay order/transfer by the Bank as the case may bewhichever is earlier, irrespective of the time taken for the transit/collection/realisation realization of the cheque/pay order by the borrower(sBorrower(s). The EMIs on the loan will commence bases on the date of disbursement of the loan.

Conditions for Disbursement. 3.1 We may disburse the quantum of loan in lump sum or in instalments, at our own discretion depending on whether the property is under- construction or complete in all respects or existing for a certain number of years as acceptable to our internal policies We would also be at liberty to disburse the loan amount directly to the builder/seller/society as the case may be and also as requested/specified/ directed by you. We will not be responsible/liable in any manner whatsoever for any delay from your side in providing such request/specification/ direction. You will not claim any costs, charges and expenses in relation to any non-disbursal by us, due to any such delay from your side. If you authorise us to handover the disbursement proceeds to the aforesaid persons directly, then after such disbursement as per your instructions, we will be discharged from our liability to make the disbursement Disbursements under the loan shall be made subject to fulfilment and compliance with the terms and conditions of this Agreement the agreement for loan and furnishing of all other standard documents and writings executed by the borrower(s) you and as specified by the Bank, including the following: a) : No event of default has occurred or is subsisting; b) The borrower(s) . You furnishing the an evidence that the disbursement requested by yourselves is required by the borrower(s) for the purpose for which the loan was initially approved. c) The borrower(s) . You furnishing such documents, evidences and writings as may be required in connection with the requested disbursement; d) . No circumstances shall have occurred which in opinion of the Bank our opinion, may make it impossible for the borrower(s) you to fulfil the obligations under documents executed as per Agreement or under the terms and conditions of the agreement for loan and or other standard documents executed by the borrower(s) you for availing of the loan. e) The borrower(s) . You delivering the evidence to the Bank’s our satisfaction that all consents, approvals and permissions required to avail of the loan and to comply with all documentation related to availing of the loan including creation of security security, is completed. f) . The borrower(s) having furnished copy Loan is subject to satisfactory compliance of all terms and conditions as stipulated in the legal opinion report, technical verification report of the insurance policy in respect of the property(ies) endorsed in favour of the Bank property, sanction letter and other term and conditions as loss payee. 3.2 The disbursement shall applicable, to be deemed to have been made to the borrower(s) on the date of the cheque or the payment advice as the case may be, under which such disbursement shall have been made irrespective of the date on which the disbursement may have been received or in terms of the loan which shall be made funded by the Bank through a ‘Pay order’ duly crossed and marked ‘A/c payee only’. Therefore, the interest on the loan shall accrue in favour of the Bank from the date of the cheque/payment advice/pay order/transfer by the Bank as the case may be, irrespective of the time taken for the transit/collection/realisation by the borrower(s).India Home Loan Limited

Conditions for Disbursement. 3.1 The Bank may disburse the quantum of loan in lump sum or in instalments at its own discretion depending on whether the flat is under-construction or complete in all respects or existing for a certain number of years as acceptable to the Bank. 3.2 The Bank would also be at liberty to disburse the amount directly to the builder/seller/society as the case may be and as requested/specified/directed by the borrower(s) to the Bank at the time of each disbursement. The Bank shall not be responsible/liable in any manner whatsoever for any delay by the borrower(s) in providing such request/ specification/direction to the Bank and the borrower(s) shall not claim any costs, charges and expenses in relation to any non-disbursal by the Bank due to any such delay by the borrower(s). 3.3 If the borrower(s) authorises the Bank to handover the disbursement to the aforesaid persons directly, then the Bank shall be discharged from its liability to make disbursement, once the Bank makes such disbursement as per the instructions of the borrower(s). 3.4 The Bank would be free to stop disbursements of further instalments on the happening of any of the events which will affect the security created in anyway i.e. due to stoppage of construction, delay in construction, litigation, acquisition, requisition reduction in the value of the security offered, on happening of any events of default as stipulated in clause 6.1, or for any other reason of whatsoever nature. 3.5 Disbursements under the loan shall be made subject to fulfilment and compliance of this Agreement for loan and all other standard documents and writings executed by the borrower(s) and as specified by the Bank, including the following: a) No event of default has occurred or is subsisting; b) The borrower(s) furnishing the evidence that the disbursement requested is required by the borrower(s) for the purpose for which the loan was initially approved.; c) The borrower(s) furnishing such documents, evidences and writings as may be required in connection with the requested disbursement; d) No circumstances shall have occurred which in opinion of the Bank may make it impossible for the borrower(s) to fulfil the obligations under documents executed as per Agreement for loan and other standard documents executed by the borrower(s) for availing the loan. e) The borrower(s) delivering the evidence to the Bank’s satisfaction that all consents, approvals and permissions required to avail the loan and to comply with all documentation related to availing the loan including creation of security is completed.. HL NONS 05/18 f) The borrower(s) having furnished copy of the insurance policy in respect of the property(ies) endorsed in favour of the Bank as loss payeefinancier/mortgagee. 3.2 3.6 The disbursement shall be deemed to have been made to the borrower(s) on the date of the cheque or the payment advice as the case may be, under which such disbursement shall have been made irrespective of the date on which the disbursement may have been received or in terms of the loan which shall be made by the Bank through a ‘Pay order’ duly crossed and marked ‘A/c payee Payee only’. Therefore, the interest on the loan shall accrue in favour of the Bank from the date of the cheque/payment advice/pay order/transfer by the Bank as the case may be, irrespective of the time taken for the transit/collection/realisation by the borrower(s). 3.7 In case of under-construction property, the Bank shall have the discretion to disburse the loan without any conditions, however, the Bank may exercise its discretion to disburse in certain circumstances, only after the construction/ improvement of such property has commenced and the borrower(s) produces documentary proof to the Bank. The Bank shall make disbursements in stages as per the progress of work, in terms of its internal norms and guidelines. The borrower(s) shall not hold the Bank responsible for any delay in the construction/giving possession of/completion of the property by the developer/builder/society to the borrower(s) or for quality, condition, fitness of the property even if the Bank may have approved/sanctioned any facilities to such developer/promoter/builder/development authority or given to the borrower(s) any information about such promoter/property/builder/development authority. The borrower(s) shall have to abide by all its obligations as required in case of availing loan for an under-construction property. 3.8 In respect of under-construction property, the Bank at its sole discretion may allow the borrower(s) to pay Pre-EMI on the loan until possession of the property is received by the borrower(s).

Conditions for Disbursement. 3.1 Disbursements under the loan SLCF shall be made subject to fulfilment and compliance of this the Agreement for loan SLCF and all other standard documents and writings executed by the borrower(s) and as specified by the Bank, including the following: a) a. No event of default has occurred or is subsisting; b) b. The borrower(s) furnishing the evidence that the disbursement requested is required by the borrower(s) for the purpose for which the loan SLCF was initially approved.; c) c. The borrower(s) furnishing such documents, evidences and writings as may be required in connection with the requested disbursement; d) d. No circumstances shall have occurred which in opinion of the Bank may make it impossible for the borrower(s) to fulfil the obligations under documents executed as per Agreement for loan SLCF and other standard documents executed by the borrower(s) for availing the loan.SLCF; e) e. The borrower(s) delivering the evidence to the Bank’s satisfaction that all consents, approvals and permissions required to avail the loan SLCF and to comply with all documentation related to availing the loan SLCF, including creation of security is completed.; f) f. The borrower(s) having furnished copy of the insurance policy in respect of the property(ies) endorsed in favour of the Bank as loss payee. 3.2 The disbursement shall be deemed to have been made to the borrower(s) on the date of the cheque Cheque or the payment Payment advice as the case may be, under which such disbursement shall have been made irrespective of the date on which the disbursement may have been received or in terms of the loan SLCF which shall be made by the Bank through a ‘Pay order’ duly crossed and marked ‘A/c payee Payee only’. Therefore, Therefore the interest on the loan SLCF shall accrue in favour of the Bank from the date of the cheque/cheque/ payment advice/pay order/transfer by the Bank as the case may be, irrespective of the time taken for the transit/collection/collection/ realisation by the borrower(s).