Common use of DELAY/DEFAULT IN PAYMENT Clause in Contracts

DELAY/DEFAULT IN PAYMENT. a) No advice, notice, reminder or intimation shall be given to the Borrower for payment by Borrower on Due Dates and it shall be Borrower's sole responsibility to ensure prompt and regular payment of interest, PMII, Monthly Installment and all other amounts payable by the Borrower to the Lender on the respective Due Dates. b) Without prejudice to the Lender's other rights, delay in payment of Monthly Installment or PMII shall render the Borrower liable to pay Additional Interest at the rate mentioned in the Schedule hereto or at such higher rate as per the rules of the Lender in that regard as in force from time to time. In such event, the Borrower shall also be liable to pay incidental charges and costs to the Lender together with Taxes, if any. c) Notwithstanding anything contained in these presents or the Transaction Documents, and irrespective of the mode of payment selected by the Borrower in the Application Form, upon any default by the Borrower in payment of one or more installments on the Due Date pertaining to the Loan or any non- realization of the installment on the Due Date by RCFL, RCFL shall be entitled, without prejudice to its other rights under the Loan terms, to present and/or re-present the PDC issued by the Borrower in favor of RCFL in connection with the Loan. Irrespective of mode of payment/Repayment selected by the Borrower in the Application Form, RCFL shall, as it may deem appropriate and necessary, be entitled to require the payment and/or collection of the installment and all other amounts comprising the Borrower`s Dues as expressed in the Application Form, or other PDC, if any, submitted by the Borrower by means of ECS, by itself or through such other Person permitted for the same, instead of and in lieu of presenting/re-presenting such PDC, if any, issued by the Borrower in favour of RCFL or utilizing any other mode or manner of payment or Repayment of the installments and all other amounts comprising the Borrower's Dues, provided that such right of RCFL shall be without prejudice to its other rights under the Loan terms , in case of any failure to receive the installments or any other amounts due, through the ECS (debit) for any reason whatsoever.

DELAY/DEFAULT IN PAYMENT. a) A. The Borrower shall pay in full the PEMII, EMI and all other Borrower's Dues without any demur, protest or default and without claiming any set-off or counter claim on the respective Due Dates. No advice, notice, reminder or intimation shall be given to the Borrower for payment by Borrower on Due Dates and it shall be regarding the Borrower's sole obligation and responsibility to ensure prompt and regular payment of interestPEMII, PMII, Monthly Installment EMI and all other amounts Borrower's Dues payable by the Borrower to the Lender on the respective Due Dates. b) Without prejudice to B. In the Lender's other rights, delay event of default in payment/ in the event of non-payment of Monthly Installment principal or PMII Interest on the Loan or any other monies or any part thereof, on respective Due Dates, such defaulted/unpaid amount shall render the Borrower liable to pay Additional Interest carry interest/further interest till payment at the rate of interest as mentioned in the Schedule attached hereto (plus applicable interest tax or other statutory levy) (“Additional Interest”), over and above the applicable Rate of Interest, computed from the respective Due Dates and shall compounded at such higher rate as per monthly rests. Such Additional Interest shall be in addition to any other charges, which the rules of Borrower is liable to pay to the Lender in that regard as in force from time to timeterms of these presents. In such event, Payment of Additional Interest or liability of the Borrower therefor shall also be liable to pay incidental charges and costs to the Lender together with Taxes, if any. c) Notwithstanding anything contained in these presents or the Transaction Documents, and irrespective of the mode of payment selected by the Borrower in the Application Form, upon not act as justification for any default by the Borrower in payment of one or more installments on the Due Date pertaining to the Loan or any non- realization of the installment on the Due Date by RCFL, RCFL shall be entitled, without prejudice to its other rights under the Loan terms, to present and/or re-present the PDC issued by the Borrower in favor of RCFL in connection with the Loan. Irrespective of mode of payment/Repayment selected by the Borrower in the Application Form, RCFL shall, as it may deem appropriate and necessary, be entitled to require the payment and/or collection of the installment and all other amounts comprising the Borrower`s Dues as expressed in the Application Form, or other PDC, if any, submitted by the Borrower by means of ECS, by itself or through such other Person permitted for the same, instead of and in lieu of presenting/re-presenting such PDC, if any, issued by the Borrower in favour of RCFL or utilizing any other mode or manner of payment or Repayment of the installments and all other amounts comprising the Borrower's Dues, provided that such right of RCFL shall be without prejudice to its Lender's other rights and remedies in this regard. C. In the event of any default in due discharge and performance by any of the Obligors of any of the obligations under the Loan terms Transaction Documents, the Borrower's Dues shall carry, in case addition to the normal interest, Additional Interest, from the date of default up to the date on which the default is cured by the Obligors to the satisfaction of the Lender. D. The Borrower may prepay the amount of the Loan in full or in part. The Borrower shall pay to the Lender such pre-payment charges, if applicable, as per the terms agreed between the parties in accordance with the Applicable Law. E. If the Borrower pre-pays only a part of the amount payable by the Borrower to the Lender, the Lender shall be entitled to adjust the amount pre-paid against the amount payable by the Borrower in such manner as the Lender thinks fit. Notwithstanding the above, if the Borrower pays any failure amount to receive the installments or any other amounts due, through Lender before the ECS (debit) for any reason whatsoeverDue Date the Lender shall be entitled to appropriate the same in such manner as the Lender deems fit.

DELAY/DEFAULT IN PAYMENT. a) No advice, notice, reminder or intimation shall be given to the Borrower for payment by Borrower on Due Dates regarding his obligation and it shall be Borrower's sole responsibility to ensure prompt and regular payment of interest, PMII, Monthly Installment and all other amounts payable by the Borrower to the Lender on the respective Due Datesdue dates. b) Without prejudice to the Lender's other rights, delay in payment of Monthly Installment or PMII shall render the Borrower liable to pay Additional Interest at the rate mentioned in the Schedule hereto or at such higher rate as per the rules of the Lender in that regard behalf as in force from time to time. In such event, the Borrower shall also be liable to pay incidental charges and costs to the Lender together with Taxes, if anyLender. c) Notwithstanding anything contained in these presents or the Transaction Documents, and irrespective of the mode of payment selected by the Borrower in the Application Form, upon any default by the Borrower in payment of one or more installments Installment on the Due Date pertaining to the Loan or any non- realization of the of the installment on the Due Date by RCFL, RCFL shall be entitled, without prejudice to its other rights under the Loan terms, to present and/or re-present the PDC post dated Cheque issued by the Borrower in favor of RCFL in connection with the Loan. Loan Irrespective of mode of payment/Repayment repayment selected by the Borrower in the Application Form, RCFL shall, as it may deem appropriate and necessary, be entitled to require the payment and/or collection of the installment Installment and all other amounts comprising the Borrower`s Dues dues as expressed in the Application Form, or other PDCPost Dated Cheque, if any, submitted by the Borrower Borrower,or by means of ECS, by itself or through such other Person person permitted for the same, instead of and in lieu of presenting/re-presenting such PDC, if any, issued by the Borrower in favour of RCFL or utilizing any other mode or manner of Payment or re payment or Repayment of the installments Installments and all other amounts comprising the Borrower's DuesBorrower`s dues, provided that such right of RCFL shall be without prejudice to its other rights under the Loan terms , in case of any failure to receive the installments Installments or any other amounts due, through the ECS (debit) for any reason whatsoever. d) if the Borrower defaults in making payment of any installments or any other amounts comprising the Borrower's Dues to RCFL on the respective the Due Date(s), the Borrower shall be liable to pay additional interest at the rate specified in the Application Form (plus applicable interest Tax or other statutory levy) on all such Outstanding /unpaid amounts from the relevant Due Date till the date of payment of such entire amount. Such further interest shall be in addition to any other charges, which the Borrower is liable to pay to RCFL in terms of these presents.

DELAY/DEFAULT IN PAYMENT. a) A. The Borrower shall pay in full the PEMII, EMI and all other Borrower's Dues without any demur, protest or default and without claiming any set-off or counter claim on the respective Due Dates. No advice, notice, reminder or intimation shall be given to the Borrower for payment by Borrower on Due Dates and it shall be regarding the Borrower's sole obligation and responsibility to ensure prompt and regular payment of interestPEMII, PMII, Monthly Installment EMI and all other amounts Borrower's Dues payable by the Borrower to the Lender on the respective Due Dates. b) Without prejudice to B. In the Lender's other rights, delay event of default in payment/ in the event of non-payment of Monthly Installment principal or PMII Interest on the Loan or any other monies or any part thereof, on respective Due Dates, such defaulted/unpaid amount shall render the Borrower liable to pay Additional Interest carry interest/further interest till payment at the rate of interest as mentioned in the Schedule attached hereto (plus applicable interest tax or at such higher rate as per other statutory levy) ('Additional Interest'), over and above the rules applicable Rate of Interest, computed from the respective Due Dates and shall become payable upon the footing of compound interest with monthly rests. Such Additional Interest shall be in addition to any other charges, which the Borrower is liable to pay to the Lender in that regard as in force from time to timeterms of these presents. In such event, Payment of Additional Interest or liability of the Borrower there for shall also be liable to pay incidental charges and costs to the Lender together with Taxes, if any. c) Notwithstanding anything contained in these presents or the Transaction Documents, and irrespective of the mode of payment selected by the Borrower in the Application Form, upon not act as justification for any default by the Borrower in payment of one or more installments on the Due Date pertaining to the Loan or any non- realization of the installment on the Due Date by RCFL, RCFL shall be entitled, without prejudice to its other rights under the Loan terms, to present and/or re-present the PDC issued by the Borrower in favor of RCFL in connection with the Loan. Irrespective of mode of payment/Repayment selected by the Borrower in the Application Form, RCFL shall, as it may deem appropriate and necessary, be entitled to require the payment and/or collection of the installment and all other amounts comprising the Borrower`s Dues as expressed in the Application Form, or other PDC, if any, submitted by the Borrower by means of ECS, by itself or through such other Person permitted for the same, instead of and in lieu of presenting/re-presenting such PDC, if any, issued by the Borrower in favour of RCFL or utilizing any other mode or manner of payment or Repayment of the installments and all other amounts comprising the Borrower's Dues, provided that such right of RCFL shall be without prejudice to its Lender's other rights and remedies in this regard. C. In the event of any default in due discharge and performance by any of the Obligors of any of the obligations under the Loan terms Transaction Documents, the Borrower's Dues shall carry, in case addition to the normal interest, Additional Interest, from the date of any failure default up to receive the installments date on which the default is cured by the Obligors to the satisfaction of the Lender. D. The Borrower may prepay the amount of the Loan in full or any other amounts duein part. The Borrower shall pay to the Lender such pre-payment charges, through if applicable, as per the ECS (debit) for any reason whatsoeverterms agreed between the parties in accordance with the Applicable Law. E. In the event of such pre-payment, the Repayment schedule shall be altered by the Lender at the request of the Borrower and the Borrower agrees to adhere to the altered Repayment schedule to be provided to the Borrower by the Lender.