Common use of Dealing with the Commodities Clause in Contracts

Dealing with the Commodities. a) The Borrower shall not, without previous permission in writing of the Bank, sell or otherwise part with the possession/ownership of the commodities. Where with such permission of the Bank the commodities is sold or disposed off by the Borrower, the value of such produce sold shall be paid forthwith to the Bank towards repayment of the Facility.

Dealing with the Commodities. a) The Borrower shall not, without previous permission in writing inwriting of the Bank, sell or otherwise part with the possession/ownership of the commodities. Where with such permission of the Bank the commodities is sold or disposed off by the Borrower, the value of such produce sold shall be paid forthwith to the Bank towards repayment of the Facility.