Common use of Drawdown/ Disbursement Clause in Contracts

Drawdown/ Disbursement. 1.6.1 The Lender shall disburse the Loan as per the disbursement schedule provided in the Schedule hereto either in one lump sum or in suitable installments/tranches upon the receipt of the disbursal request form from the Borrower to the Lender. Disbursement shall be made in such mode and manner as provided in the Schedule annex here in this agreement. 1.6.2 It is further agreed between the Parties that where the declared endues or any integral part thereof, during the subsistence of this Agreement, is declared illegal or becomes illegal on account of any promulgation ,amendment, modification or re-enactment of any statute, notification, circular or order etc., then this Agreement shall stand terminated from the date from which the declared end use or any integral part thereof has become illegal, and the Borrower shall be liable to repay the entire Loan amount along with accrued interest, costs, charges, levies etc. forthwith to the Lender. 1.6.3 After execution of this Agreement, the Borrower shall not be entitled to cancel the Loan or refuse to accept the disbursement of the Loan, except with the approval of the Lender and on payment to the Lender, of such cancellation charges or foreclosure charges as provided in the Schedule hereunder and as may be modified by the Lender from time to time. The Bank shall however have the right to terminate all and/or any undrawn part of the Loan without giving notice to the Borrower. The Borrower shall be informed and intimated by the Bank of such termination of the undrawn amount of the Loan as soon as practicable by the Bank.

Drawdown/ Disbursement. 1.6.1 2.6.1. The Lender Bank shall disburse the Loan Facility in the mode and manner specified in the Schedule hereunder written and as per the disbursement schedule as may be provided by the Bank to the Borrower in the Schedule hereto their sole discretion, either in one lump sum or in suitable installments/tranches upon the receipt of the after a disbursal request form from is sent by the Borrower to the LenderBank. Disbursement Decision of the Bank to make disbursement shall be made in such mode final, conclusive and manner as provided binding upon the Borrower. The Borrower shall acknowledge the receipt in the Schedule annex here form required by the Bank, of each amount disbursed. However, the disbursement in this agreementany event shall be deemed to have been made on the date of disbursement by way of cheque, pay order or transfer to his operating account as the case may be. Interest on the Facility will begin to accrue in favour of the Bank as and from the date of each disbursement of the Facility. In case the Borrower delays or does not drawdown the entire Facility within such period as may be notified by the Bank to the Borrower, at the sole discretion of the Bank, then the Bank, shall nonetheless be entitled to (i) reduce the availability of the amounts of the Facility and/or (ii) encash the PDC’s on the respective dates and/or (iii) act upon the standing instructions (“SI”), deduct the account of the Borrower through ECS or NACH or otherwise as the case may be and/or (iv) suspend or cancel further disbursements of the Facility. 1.6.2 2.6.2. It is further agreed between the Parties that where the declared endues end use or any integral part thereof, during the subsistence of this Agreement, is declared illegal or becomes illegal on account of any promulgation ,promulgation, amendment, modification or re-enactment of any statute, notification, circular or order etc., then this Agreement shall stand terminated from the date from which the declared end use or any integral part thereof has become illegal, and the Borrower shall be liable to repay the entire Loan Facility amount along with accrued interestInterest, costs, charges, levies etc. forthwith to the LenderBank. In such circumstances, the Bank shall be entitled to withhold any further disbursements. 1.6.3 After 2.6.3. On execution of this Agreement, the Borrower shall not be entitled to cancel the Loan Facility or refuse to accept the disbursement of the LoanFacility, except with the approval of the Lender Bank and on payment to the LenderBank, of such cancellation charges or foreclosure charges as provided in the Schedule hereunder and as may be modified stipulated by the Lender from time to timeBank. The Bank shall however have the right to terminate all and/or any undrawn part of the Loan Facility without giving notice to the BorrowerBorrower and without assigning any reason for the same. The Borrower shall be informed and intimated by the Bank of such termination of the undrawn amount of the Loan Facility as soon as practicable by the Bank.

Drawdown/ Disbursement. 1.6.1 1.5.1 The Lender shall disburse the Loan as per the disbursement schedule provided in the Schedule hereto either in one lump sum or in suitable installments/installments/ tranches upon the receipt of the after a disbursal request form from is sent by the Borrower to the Lender. Disbursement shall be made in such mode and manner as provided in the Schedule annex here in this agreementSchedule. 1.6.2 1.5.2 It is further agreed between the Parties that where the declared endues end use or any integral part thereof, during the subsistence of this Agreement, is declared illegal or becomes illegal on account of any promulgation ,promulgation, amendment, modification or re-enactment of any statute, notification, circular or order etc., then this Agreement shall stand terminated from the date from which the declared end use or any integral part thereof has become illegal, and the Borrower shall be liable to repay the entire Loan amount along with accrued interest, costs, charges, levies etc. forthwith to the Lender. 1.6.3 1.5.3 After execution of this Agreement, the Borrower shall not be entitled to cancel the Loan or refuse to accept the disbursement of the Loan, except with the approval of the Lender and on payment to the Lender, of such cancellation charges or foreclosure charges as provided in the Schedule hereunder and as may be modified by the Lender from time to time. The Bank shall however have the right to terminate all and/or and/ or any undrawn part of the Loan without giving notice to the Borrower. The Borrower shall be informed and intimated by the Bank of such termination of the undrawn amount of the Loan as soon as practicable by the Bank.

Drawdown/ Disbursement. 1.6.1 The Lender shall disburse the Loan as per the disbursement schedule provided in the Schedule hereto either in one lump sum or in suitable installmentsinstalments/tranches upon the receipt of the disbursal request form from the Borrower to the Lender. Disbursement shall be made in such mode and manner as provided in the Schedule annex here in this agreement. 1.6.2 It is further agreed between the Parties that where the declared endues end use or any integral part thereof, during the subsistence of this Agreement, is declared illegal or becomes illegal on account of any promulgation ,amendment, modification or re-enactment of any statute, notification, circular or order etc., then this Agreement shall stand terminated from the date from which the declared end use or any integral part thereof has become illegal, and the Borrower shall be liable to repay the entire Loan amount along with accrued interest, costs, charges, levies etc. forthwith to the Lender. 1.6.3 After execution of this Agreement, the Borrower shall not be entitled to cancel the Loan or refuse to accept the disbursement of the Loan, except with the approval of the Lender and on payment to the Lender, of such cancellation charges or foreclosure charges as provided in the Schedule hereunder and as may be modified by the Lender from time to time. The Bank shall however have the right to terminate all and/or any undrawn part of the Loan without giving notice to the Borrower. The Borrower shall be informed and intimated by the Bank of such termination of the undrawn amount of the Loan as soon as practicable by the Bank.

Drawdown/ Disbursement. 1.6.1 2.6.1. The Lender Bank shall disburse the Loan Facility in the mode and manner specified in the Schedule hereunder written and as per the disbursement schedule as may be provided by the Bank to the Borrower in the Schedule hereto their sole discretion, either in one lump sum or in suitable installments/tranches upon the receipt of the after a disbursal request form from is sent by the Borrower to the LenderBank. Disbursement Decision of the Bank to make disbursement shall be made in such mode final, conclusive and manner as provided binding upon the Borrower. The Borrower shall acknowledge the receipt in the Schedule annex here form required by the Bank, of each amount disbursed. However, the disbursement in this agreementany event shall be deemed to have been made on the date of disbursement by way of cheque, pay order or transfer to his operating account as the case may be. Interest on the Facility will begin to accrue in favour of the Bank as and from the date of each disbursement of the Facility. In case the Borrower delays or does not drawdown the entire Facility within such period as may be notified by the Bank to the Borrower, at the sole discretion of the Bank, then the Bank, shall nonetheless be entitled to (i) reduce the availability of the amounts of the Facility and/or (ii) encash the PDC’s on the respective dates and/or (iii) act upon the standing instructions (“SI”), deduct the account of the Borrower through ECS or NACH or otherwise as the case may be and/or (iv) suspend or cancel further disbursements of the Facility. 1.6.2 2.6.2. It is further agreed between the Parties that where the declared endues end use or any integral part thereof, during the subsistence of this Agreement, is declared illegal or becomes illegal on account of any promulgation ,promulgation, amendment, modification or re-re- enactment of any statute, notification, circular or order etc., then this Agreement shall stand terminated from the date from which the declared end use or any integral part thereof has become illegal, and the Borrower shall be liable to repay the entire Loan Facility amount along with accrued interestInterest, costs, charges, levies etc. forthwith to the LenderBank. In such circumstances, the Bank shall be entitled to withhold any further disbursements. 1.6.3 After 2.6.3. On execution of this Agreement, the Borrower shall not be entitled to cancel the Loan Facility or refuse to accept the disbursement of the LoanFacility, except with the approval of the Lender Bank and on payment to the LenderBank, of such cancellation charges or foreclosure charges as provided in the Schedule hereunder and as may be modified stipulated by the Lender from time to timeBank. The Bank shall however have the right to terminate all and/or any undrawn part of the Loan Facility without giving notice to assigning any reason for the Borrowersame. The Borrower shall be informed and intimated by the Bank of such termination of the undrawn amount of the Loan Facility as soon as practicable by the Bank.

Drawdown/ Disbursement. 1.6.1 2.6.1. The Lender Bank shall disburse the Loan Facility in the mode and manner specified in the Schedule hereunder written and as per the disbursement schedule as may be provided by the Bank to the (Borrower Signature) (Co-borrower(s) Signature) Borrower in the Schedule hereto their sole discretion, either in one lump sum or in suitable installments/tranches upon the receipt of the after a disbursal request form from is sent by the Borrower to the LenderBank. Disbursement Decision of the Bank to make disbursement shall be made in such mode final, conclusive and manner as provided binding upon the Borrower. The Borrower shall acknowledge the receipt in the Schedule annex here form required by the Bank, of each amount disbursed. However, the disbursement in this agreementany event shall be deemed to have been made on the date of disbursement by way of cheque, pay order or transfer to his operating account as the case may be. Interest on the Facility will begin to accrue in favour of the Bank as and from the date of each disbursement of the Facility. In case the Borrower delays or does not drawdown the entire Facility within such period as may be notified by the Bank to the Borrower, at the sole discretion of the Bank, then the Bank, shall nonetheless be entitled to (i) reduce the availability of the amounts of the Facility and/or (ii) encash the PDC’s on the respective dates and/or (iii) act upon the standing instructions (“SI”), deduct the account of the Borrower through ECS or NACH or otherwise as the case may be and/or (iv) suspend or cancel further disbursements of the Facility. 1.6.2 2.6.2. It is further agreed between the Parties that where the declared endues end use or any integral part thereof, during the subsistence of this Agreement, is declared illegal or becomes illegal on account of any promulgation ,promulgation, amendment, modification or re-enactment of any statute, notification, circular or order etc., then this Agreement shall stand terminated from the date from which the declared end use or any integral part thereof has become illegal, and the Borrower shall be liable to repay the entire Loan Facility amount along with accrued interestInterest, costs, charges, levies etc. forthwith to the LenderBank. In such circumstances, the Bank shall be entitled to withhold any further disbursements. 1.6.3 After 2.6.3. On execution of this Agreement, the Borrower shall not be entitled to cancel the Loan Facility or refuse to accept the disbursement of the LoanFacility, except with the approval of the Lender Bank and on payment to the LenderBank, of such cancellation charges or foreclosure charges as provided in the Schedule hereunder and as may be modified stipulated by the Lender from time to timeBank. The Bank shall however have the right to terminate all and/or any undrawn part of the Loan Facility without giving notice to the BorrowerBorrower and without assigning any reason for the same. The Borrower shall be informed and intimated by the Bank of such termination of the undrawn amount of the Loan Facility as soon as practicable by the Bank.

Drawdown/ Disbursement. 1.6.1 1.5.1 The Lender shall disburse the Loan as per the disbursement schedule provided in the Schedule hereto either in one lump sum or in suitable installmentsinstalments/tranches upon the receipt of the disbursal request form from the Borrower to the Lender. Disbursement shall be made in such mode and manner as provided in the Schedule annex here in this agreement. 1.6.2 1.5.2 It is further agreed between the Parties that where the declared endues end use or any integral part thereof, during the subsistence of this Agreement, is declared illegal or becomes illegal on account of any promulgation ,amendment, modification or re-enactment of any statute, notification, circular or order etc., then this Agreement shall stand terminated from the date from which the declared end use or any integral part thereof has become illegal, and the Borrower shall be liable to repay the entire Loan amount along with accrued interest, costs, charges, levies etc. forthwith to the Lender. 1.6.3 1.5.3 After execution of this Agreement, the Borrower shall not be entitled to cancel the Loan or refuse to accept the disbursement of the Loan, except with the approval of the Lender and on payment to the Lender, of such cancellation charges or foreclosure charges as provided in the Schedule hereunder and as may be modified by the Lender from time to time. The Bank shall however have the right to terminate all and/or any undrawn part of the Loan without giving notice to the Borrower. The Borrower shall be informed and intimated by the Bank of such termination of the undrawn amount of the Loan as soon as practicable by the Bank.