drawn on Sample Clauses

drawn on. (Name of the bank/FI) the receipt of which the indemnifier to hear by admit and acknowledge) which the indemnifier has deposited/shall deposit in its Current account no / SB account no. With the (Name of the bank/FI) and whereas the indemnifiers have agreed the terms and condition mentioned in the aforesaid government order and the letter of sanction and have promised to abide by the same; And whereas the parties hereto (indemnifier and indemnity holder) have gone through and have understood the contents of this agreement of indemnity. Now on the basis of above mentioned facts indemnifiers and indemnity holder here byagree as follows: That the annexure of this agreement shall from an integral part of this agreement, That the indemnifier no.1 shall not use or divert the grant in aid provided to it by the indemnity holder for any purpose other than payment of interest to the bank/ financial institution concerned, That the indemnifiers shall abide by the terms and conditions mentioned in the G.O. no. Date (Guidelines order no & date) and the letter of sanction That in case the indemnifier no.1 fails to comply with any condition of this agreement, G.O. no. Date (Guidelines order no & date) and the sanction letter or commits Breach there of the indemnifiers shall jointly and severally liable to refund the amount received from the state of Uttar Pradesh without a demur. That in case of failure of indemnifier to refund the amount to state of Uttar Pradesh the state government will have a right to recover the amount paid to the indemnifier no.1 from the indemnifier as an area of land revenue. That in case of any dispute arising out of this agreement between indemnifier and the indemnity holder the decision the matter shall be referred to the headquarter of Dairy Development department, U.P and if the matter remains un disposed the same shall be referred to the Additional Chief Secretary/ Principal Secretary, Dairy Development department Uttar Pradesh and his decision shall be final and binding on the indemnifier and indemnity holder. That the indemnifier no.1 shall keep the account of utilization of money received from the state of Uttar Pradesh and keep it ready for inspection by the govt. authorities as and when required. That indemnifier No. 1 shall provide all the information about it including audited annual account/balance sheets to the Milk Commissioner, Dairy Development Department of Uttar Pradesh, Lucknow at regular intervals as demanded by him. That the...
Sample 1
drawn on. Bank............... Branch, , XYZ restrictions as a deposit. This amount will be refunded at the time of termination of this Agreement in the event of no outstanding claim against XYZ Limited's agent.
Sample 1
drawn on. When this or a similar phrase is used with reference to an account, it refers to an account owned by the “payor” holding the funds represented by the check.
Sample 1

Related to drawn on

  • Refinancing Preparation Advance If the Financing Agreement provides for the repayment out of the proceeds of the Financing of an advance made by the Association or the Bank (“Preparation Advance”), the Association shall, on behalf of the Recipient, withdraw from the Financing Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Financing Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Association shall pay the amount so withdrawn to itself or the Bank, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Letter of Credit Tenant has deposited, and shall maintain on deposit with Landlord at all times during the initial Term of this Lease, one or more unconditional, irrevocable letter(s) of credit (each a "Deposit L/C") in the "Required Amount" (as hereinafter defined), as security for the full and prompt payment, performance and observance by Tenant of all of the covenants and obligations to be paid, performed and/or observed on the part of Tenant under this Lease and for the payment of any and all damages for which Tenant, shall be final by reason of any act or omission contrary to any of the provisions of this Lease. Each Deposit L/C shall be issued by a bank reasonably acceptable to Landlord and shall be substantially in the form of the letter of credit attached hereto on Exhibit D and made a part hereof. If any Deposit L/C provides that the amount drawable thereunder shall cease to be available on a date prior to the date which is thirty (30) days after the expiration of the fourth (4th) Lease Year, or if the issuing bank shall give written notice to Landlord that it will not extend such Deposit L/C for an additional twelve (12) months beyond the then current expiry date, Tenant shall, at least thirty (30) days prior to the date specified in such Deposit L/C as being the date on which such drawable amount will cease to be available, or the then current expiry date, as the case may be, either furnish to Landlord a renewal or extension of such Deposit L/C or a new Deposit L/C. Failure to comply with the provisions of the preceding sentence prior to the commencement of said thirty (30) day period shall be deemed to be a default under this Lease and Landlord may, at any time during said thirty (30) day period, draw upon such Deposit L/C and retain as a security deposit hereunder the amount so drawn. As used herein, the term "

  • Payment in Advance (a) You may request to pay your Membership Fees in advance. We, at our sole discretion, reserve the right to accept or deny your request.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!