Common use of Disbursement Terms Clause in Contracts

Disbursement Terms. a. The Lender shall, in its sole and absolute discretion, disburse the Loan amount, in terms of the requirements of the Borrower/s. b. All the disbursements to be made by the Lender in a form and manner as may be acceptable to the Lender, in its sole discretion. The disbursement shall be made by way of electronic payment systems viz, National Electronic Fund Transfer (NEFT), Real Time Gross Settlement (RTGS), etc. The collection charges, if any, in respect of all such payments / disbursements shall be borne by the Borrower/s. The Interest on the Loan will begin to accrue from the date of disbursement of the Loan, irrespective of the time taken for the transit / collection / realization of such cheque or electronic payment. c. The Borrower/s also agree and undertake to issue / provide such acknowledgement and / or receipt, of each amount of the Loan (or any part thereof) so disbursed, in the manner required by the Lender. d. The Borrower/s agree that the decision of the Lender with respect to the disbursement of the Loan, shall be final, conclusive and binding upon the Borrower/s, and the Borrower/s undertake not to question and / or challenge the decision / discretion of the Lender.