Common use of DISBURSEMENT AND SUB-LIMITS Clause in Contracts

DISBURSEMENT AND SUB-LIMITS. 4.1 The Bank shall at its sole discretion disburse the Facilities, in accordance with the terms and conditions of this Agreement, including compliance of the provisions of this Clause 4 to such account as specified in the disbursement request. The Bank at the request of the Borrower make/allow disbursements/drawls under the facilities by issuance of BGs and/or LCs and/or other Facility Products. 4.2 The Facilities (either in full or in parts) may be disbursed by the Bank in such currency as specified in Sr. No. 5 of the Schedule, subject to the norms laid down by Reserve Bank of India (RBI) from time to time and the other terms and condition agreed between the Parties, if any. Further, during the tenure of the Facilities, the Bank may, at the request of the Borrower, but however, at its sole discretion, convert any Facilities, either in full or part into any other currency and/or reconvert it into Indian Rupees on such terms and conditions as are acceptable to the Bank and the Borrower . It is clarified and agreed that such conversion /re-conversion shall be governed by the terms and condition as contained in this Agreement unless otherwise agreed in writing between the Bank and the Borrower. The Borrower shall duly indemnify the Bank for any loss suffered by the Bank on account of fluctuation that may take place in the value of foreign currency in which the Facilities is availed and such loss on account of the fluctuation shall form a part of the Loan Obligations. In the event the Loan is converted into any other currency, the Borrower shall hedge the foreign currency exposure, if any through the Bank. 4.3 In case any Loan or part thereof is disbursed or converted into foreign currency , the Borrower agrees and confirms that, Bank may on request being made by the Borrower, at its sole discretion, roll over the foreign currency loan from time to time on such terms and conditions as it may deem fit and such roll over may be effected by the Bank by way of a letter issued by the Bank, carrying such Terms and conditions and accepted by the Borrower, shall be valid and binding on the Borrower at each renewal and such renewal and roll over will be governed by this Agreement mutatis mutandis, except to the extent as amended and modified by such letter referred to in this clause. 4.4 In the event the Bank is providing any facilities under this Agreement which are in a currency other than Indian Rupees, the same shall be governed by the terms of this Agreement including additional terms and conditions, if any, specified in Schedule II of this Agreement. 4.5 The Bank is entitled to disburse the Facilities granted/to be granted to the Borrower to in a single account or multiple accounts of any Facility Products and this agreement would be valid and binding for all such accounts. It is agreed between the parties that the facilities disbursed in such multiple loan accounts may have a varied rate of interest as may be agreed mutually between the parties at the time of each disbursement and as stipulated in the in the sanction letters subsequently issued for various Facility Products to be granted within the Overall Limits.

DISBURSEMENT AND SUB-LIMITS. 4.1 9.1 The Bank shall at its sole discretion disburse the Facilities, in accordance with the terms and conditions of this Agreement, including compliance of the provisions of this Clause 4 to such account as specified in the disbursement request. The Bank at the request of the Borrower make/allow disbursements/drawls under the facilities by issuance of BGs and/or LCs and/or other Facility Products. 4.2 9.2 The Facilities (either in full or in parts) may be disbursed by the Bank in such currency as specified in Sr. No. 5 of the Schedule, subject to the norms laid down by Reserve Bank of India (RBI) from time to time and the other terms and condition agreed between the Parties, if any. Further, during the tenure of the Facilities, the Bank may, at the request of the Borrower, but however, at its sole discretion, convert any Facilities, either in full or part into any other currency and/or reconvert it into Indian Rupees on such terms and conditions as are acceptable to the Bank and the Borrower . It is clarified and agreed that such conversion /re-conversion shall be governed by the terms and condition as contained in this Agreement unless otherwise agreed in writing between the Bank and the Borrower. The Borrower shall duly indemnify the Bank for any loss suffered by the Bank on account of fluctuation that may take place in the value of foreign currency in which the Facilities is availed and such loss on account of the fluctuation shall form a part of the Loan Obligations. In the event the Loan is converted into any other currency, the Borrower shall hedge the foreign currency exposure, if any through the Bank. 4.3 9.3 In case any Loan or part thereof is disbursed or converted into foreign currency , the Borrower agrees and confirms that, Bank may on request being made by the Borrower, at its sole discretion, roll over the foreign currency loan from time to time on such terms and conditions as it may deem fit and such roll over may be effected by the Bank by way of a letter issued by the Bank, carrying such Terms and conditions and accepted by the Borrower, shall be valid and binding on the Borrower at each renewal and such renewal and roll over will be governed by this Agreement mutatis mutandis, except to the extent as amended and modified by such letter referred to in this clause. 4.4 9.4 In the event the Bank is providing any facilities under this Agreement which are in a currency other than Indian Rupees, the same shall be governed by the terms of this Agreement including additional terms and conditions, if any, specified in Schedule II of this Agreement. 4.5 9.5 The Bank is entitled to disburse the Facilities granted/to be granted to the Borrower to in a single account or multiple accounts of any Facility Products and this agreement would be valid and binding for all such accounts. It is agreed between the parties that the facilities disbursed in such multiple loan accounts may have a varied rate of interest as may be agreed mutually between the parties at the time of each disbursement and as stipulated in the in the sanction letters subsequently issued for various Facility Products to be granted within the Overall Limits.

DISBURSEMENT AND SUB-LIMITS. 4.1 The Bank shall at its sole discretion disburse the Facilities, in accordance with the terms and conditions of this Agreement, including compliance of the provisions of this Clause 4 to such account as specified in the disbursement request. The Bank at the request of the Borrower make/allow disbursements/drawls under the facilities by issuance of BGs and/or LCs and/or other Facility Products. 4.2 The Facilities (either in full or in parts) may be disbursed by the Bank in such currency as specified in Sr. No. 5 of the Schedule, subject to the norms laid down by Reserve Bank of India (RBI) from time to time and the other terms and condition agreed between the Parties, if any. Further, during the tenure of the Facilities, the Bank may, at the request of the Borrower, but however, at its sole discretion, convert any Facilities, either in full or part into any other currency and/or reconvert it into Indian Rupees on such terms and conditions as are acceptable to the Bank and the Borrower . It is clarified and agreed that such conversion /re-conversion shall be governed by the terms and condition as contained in this Agreement unless otherwise agreed in writing between the Bank and the Borrower. The Borrower shall duly indemnify the Bank for any loss suffered by the Bank on account of fluctuation that may take place in the value of foreign currency in which the Facilities is availed and such loss on account of the fluctuation shall fluctuationshall form a part of the Loan Obligations. In the event the Loan is converted into any other currency, the Borrower shall hedge the foreign currency exposure, if any through the Bank. 4.3 In case any Loan or part thereof is disbursed or converted into foreign currency , the Borrower agrees and confirms that, Bank may on request being made by the Borrower, at its sole discretion, roll over the foreign currency loan from time to time on such terms and conditions as it may deem fit and such roll over may be effected by the Bank by way of a letter issued by the Bank, carrying such Terms and conditions and accepted by the Borrower, shall be valid and binding on the Borrower at each renewal and such renewal and roll over will be governed by this Agreement mutatis mutandis, except to the extent as amended and modified by such letter referred to in this clause. 4.4 In the event the Bank is providing any facilities under this Agreement which are in a currency other than Indian Rupees, the same shall be governed by the terms of this Agreement including additional terms and conditions, if any, specified in Schedule II of this Agreement. 4.5 The Bank is entitled to entitledto disburse the Facilities granted/to be granted to grantedto the Borrower to in a single account or multiple accounts of any Facility Products and this agreement would be valid and binding for all such accounts. It is agreed between the parties that the facilities disbursed in such multiple loan accounts may have a varied rate of interest as may be agreed mutually between the parties at the time of each disbursement and as stipulated in the in the sanction letters subsequently issued for various Facility Products to be granted within the Overall Limits.

DISBURSEMENT AND SUB-LIMITS. 4.1 9.1 The Bank shall at its sole discretion disburse the Facilities, in accordance with the terms and conditions of this Agreement, including compliance of the provisions of this Clause 4 to such account as specified in the disbursement request. The Bank at the request of the Borrower make/allow disbursements/drawls under the facilities by issuance of BGs and/or LCs and/or other Facility Products. 4.2 9.2 The Facilities (either in full or in parts) may be disbursed by the Bank in such currency as specified in Sr. No. 5 of the Schedule, subject to the norms laid down by Reserve Bank of India (RBI) from time to time and the other terms and condition agreed between the Parties, if any. Further, during the tenure of the Facilities, the Bank may, at the request of the Borrower, but however, at its sole discretion, convert any Facilities, either in full or part into any other currency and/or reconvert it into Indian Rupees on such terms and conditions as are acceptable to the Bank and the Borrower . It is clarified and agreed that such conversion /re-conversion shall be governed by the terms and condition as contained in this Agreement unless otherwise agreed in writing between the Bank and the Borrower. The Borrower shall duly indemnify the Bank for any loss suffered by the Bank on account of fluctuation that may take place in the value of foreign currency in which the Facilities is availed and such loss on account of the fluctuation shall fluctuationshall form a part of the Loan Obligations. In the event the Loan is converted into any other currency, the Borrower shall hedge the foreign currency exposure, if any through the Bank. 4.3 9.3 In case any Loan or part thereof is disbursed or converted into foreign currency , the Borrower agrees and confirms that, Bank may on request being made by the Borrower, at its sole discretion, roll over the foreign currency loan from time to time on such terms and conditions as it may deem fit and such roll over may be effected by the Bank by way of a letter issued by the Bank, carrying such Terms and conditions and accepted by the Borrower, shall be valid and binding on the Borrower at each renewal and such renewal and roll over will be governed by this Agreement mutatis mutandis, except to the extent as amended and modified by such letter referred to in this clause. 4.4 9.4 In the event the Bank is providing any facilities under this Agreement which are in a currency other than Indian Rupees, the same shall be governed by the terms of this Agreement including additional terms and conditions, if any, specified in Schedule II of this Agreement. 4.5 9.5 The Bank is entitled to entitledto disburse the Facilities granted/to be granted to grantedto the Borrower to in a single account or multiple accounts of any Facility Products and this agreement would be valid and binding for all such accounts. It is agreed between the parties that the facilities disbursed in such multiple loan accounts may have a varied rate of interest as may be agreed mutually between the parties at the time of each disbursement and as stipulated in the in the sanction letters subsequently issued for various Facility Products to be granted within the Overall Limits.