DEFICIENCY IN PROCEEDS OF SALE. If the amount realised by the Chargee pursuant to the proceedings referred to in Section 4.03 hereof after the deductions thereof is less than the amount due and payable to the Chargee and whether at such sale the Chargee is the purchaser or otherwise, the Chargor shall pay to the Chargee the difference between the amount due and the amount so realised.
DEFICIENCY IN PROCEEDS OF SALE. The parties agree that, regardless of any other provision contained in this Agreement:
DEFICIENCY IN PROCEEDS OF SALE. The parties agree that, regardless of any other provision contained in this Agreement:
(a) the Borrower shall pay all costs and expenses (including legal fees on a solicitor-client basis, execution or valuation fees, any other professional fees, stamp duties, disbursements and any related penalties) on a full indemnity basis that the Bank incurs in connection with:
(i) the enforcement or the preservation of any rights under the Security Documents. For clarity, this would include fees, charges and expenses expended on legal proceedings and foreclosure proceedings (including legal fees, execution fees, valuation fees, real estate agent fees, auctioneer fees and any other professional fees); or
(ii) any legal proceedings relating to or in connection with the Property or to protect the Bank’s interest in the Property or any account(s) of the Borrower; or
(iii) maintenance (including maintenance fee) or realisation of the Property; or
(iv) the recovery of the Indebtedness.
(b) if the amount received and/or realised by the Bank under this Agreement and/or Security Documents, after deduction of all costs and expenses mentioned above, rates, taxes and other outgoings, is less than the amount due to the Bank under the Security Documents, the Borrower will be liable for the shortfall regardless of whether or not the banker-customer relationship between the Bank and the Borrower has ceased or been terminated;
(c) paragraph (b) applies whether or not the Bank is the purchaser of all the assets or properties charged and/or assigned to the Bank under the Security Documents at such sale;
(d) until payment is made for the amount of the shortfall, the Borrower will (regardless of any foreclosure proceedings taken or sale made by the Bank) also pay interest (both before demand as well as after judgment and whether or not the banker-customer relationship between the Bank and the Borrower has ceased or been terminated) on the shortfall at the Prevailing Interest Rate and if applicable, the Default Rate, up to the date such shortfall together with all accrued interests is actually received in full by the Bank; and
(e) any interest payable under this Section 9.3 is to be calculated and charged in accordance with Section 5.
10.1 Obligation to maintain Mortgage Insurance Policy If the Borrower is required to buy/take up, or in the event that the Bank buys/takes up on the Borrower’s behalf, and maintains a mortgage reducing term policy, or any other policy, guaranteeing the repaym...
DEFICIENCY IN PROCEEDS OF SALE. If the amount realised by the Bank pursuant to the proceedings referred to in Clause 11.4 hereof after all deductions thereof is less than the amount due and payable to the Bank, and whether at such sale the Bank is the purchaser or otherwise, the Customer shall pay to the Bank the difference between the amount due and the amount so realised.
DEFICIENCY IN PROCEEDS OF SALE. The parties agree that, regardless of any other provisions contained in this Agreement to the contrary:
(a) if the actual amount ultimately received by the Bank towards the indebtedness under the terms of the Security Documents and/or on a sale or disposal of the assets or properties charged and/or assigned to the Bank under the Security Documents, after deduction of all fees (including but not limited to the Bank’s solicitors fees on a solicitor and client basis), costs, rates, taxes and other outgoings on the assets or properties charged and/or assigned to the Bank under the Security Documents in accordance with Section 8.02 hereof, is less than the amount due to the Bank under the Letter of Offer and this Agreement, the Customer will be liable for the amount of such shortfall;
(b) paragraph (a) applies whether or not the Bank is the purchaser of all assets or properties charged and/or assigned to the Bank under the Security Documents at such sale or disposal;
(c) until payment is made for the amount of the shortfall, the Customer will (regardless of any foreclosure proceedings taken or sale made by the Bank) also pay late payment compensation on the amount of the shortfall at the prevailing Islamic Interbank Money Market (IIMM) Rate until full settlement of such shortfall and all other moneys due and payable to the Bank.
DEFICIENCY IN PROCEEDS OF SALE. The parties agree that, regardless of any other provisions contained in this Agreement to the contrary:
(a) if the actual amount ultimately received by the Bank towards the indebtedness under the terms of this Agreement and/or the Security Documents and /or on a sale or disposal of the assets or properties charged and/or assigned to the Bank under the Security Documents, after deduction of all fees (including but not limited to the Bank’s solicitors fees on a solicitor and client basis), costs, rates, taxes and other outgoings on the assets or properties charged and/or assigned to the Bank under the Security Documents in accordance with Section 8.02 hereof, is less than the amount due to the Bank under the Letter of Offer and this Agreement, the Customer will be liable for the amount of such shortfall;
(b) paragraph (a) applies whether or not the Bank is the purchaser of all assets or properties charged and/or assigned to the Bank under the Security Documents at such sale or disposal;
(c) until payment is made for the amount of the shortfall, the Customer will (regardless of any foreclosure proceedings taken or sale made by the Bank) also pay Late Payment Charges on the amount of the shortfall at the prevailing IIMM Rate until full settlement of such shortfall and all other moneys due and payable to the Bank.
DEFICIENCY IN PROCEEDS OF SALE. If the amount recovered or realised under the Security Documents after deduction and payment, from the amount so recovered or realised, of all fees, costs, expenses and other outgoings, is less than the amount due to the Bank under the Security Documents and whether in the process of such recovery or realisation the Bank has purchased any of the properties and assets charged to the Bank or otherwise, the Customer and/or the Assignor will pay to the Bank the difference between the amount due and the amount so realised. Until payment, the Assignor will also pay ta’widh (late payment compensation) on such balance at the rate provided in the Facility Agreement.
DEFICIENCY IN PROCEEDS OF SALE. If the amount realised by the Lender on a sale or application of the properties and assets deposited with the Lender after deduction and payment from the proceeds of such sale of all fees, dues, costs, rates, taxes and other outgoings thereon is less than the amount due to the Lender and whether at such sale the Lender is the purchaser thereof or otherwise, the Borrower shall pay to the Lender the difference between the amount due and the amount so realised and until payment will also pay interest on such balance at the rate specified in accordance to the terms and condition of this Agreement.
DEFICIENCY IN PROCEEDS OF SALE. It is expressly agreed and declared between the parties hereto that notwithstanding, any other provision herein contained in the other documents creating security for the Facility to the contrary, the Customer shall be liable to the Bank for the difference between the amount due and the actual amount ultimately received by the Bank and /or upon a sale of the Property in the event that the actual amount ultimately received by the Bank under the terms of this Agreement or any of the documents creating security for the Facility and /or on sale of the Property after deduction and payment from the proceeds so recovered, or realized or received of all fee (including but not limited to the Bank’s solicitor fees on a solicitor and client basis) dues costs rates taxes and other outgoings on the Property is less than the amount due to the Bank hereunder and under the other documents creating security for the Facility and notwithstanding whether or not the Bank is the purchaser of the Property at such sale and the Customer shall pay late payment charges on the differential sum until the date of actual payment made.
DEFICIENCY IN PROCEEDS OF SALE. If the amount realised by the Bank pursuant to this Agreement and the Security Documents after deducting any payment from the amount so realised of all fees dues costs rates taxes and other outgoings arising out of or occasioned by such realisation is less than the amount due to the Bank, the Customer shall pay to the Bank on demand the difference between the amount due and the amount so realised.
