Common use of Fixed Deposit Clause in Contracts

Fixed Deposit. I. The Bank shall only accept fixed deposits in such currency, of such minimum deposit amount, for such deposit period and shall pay interest on such fixed deposit at such interest rate, as the Bank may, at its discretion, specify from time to time. II. If the Bank shall issue a receipt or confirmation for a fixed deposit placed by the Customer, such document shall only be evidence of deposit and not a document of title. III. Any fixed deposit accepted by the Bank will be subject to the provisions of this Agreement and to such terms and conditions as may be set out in the receipt or confirmation issued by the Bank therefore. If there is any conflict between this Agreement and such receipt or confirmation, the latter shall prevail. IV. Upon the withdrawal or any drawing of any fixed deposit, the Bank is entitled (but not obliged) to require delivery of the original receipt or confirmation, if any, issued by the Bank therefor. V. Unless otherwise agreed by the Bank, a fixed deposit can only be withdrawn on or after its maturity date or the expiry of its term. VI. No fixed deposit deposited with the Bank by the Customer shall be assigned or transferred to any other person. VII. Unless otherwise agreed or prior written instructions are received before the maturity date of a fixed deposit, the Bank may (but shall not be obliged) to, at its discretion, automatically renew that fixed deposit, together with the interest accrued thereon, upon that maturity date and upon each successive maturity date for a like term at the Bank’s prevailing interest rate for deposits in the currency of that account and for that term. No interest shall accrue or be payable on any fixed deposit which is not renewed. Where it is agreed that there shall not be any automatic rollover of a fixed deposit upon maturity, the proceeds of the fixed deposit will be deposited into a savings account in the same currency that is maintained by the Customer with the Bank or which the Bank may open for such purpose. VIII. If the interest rate applicable to a fixed deposit for a particular period is an agreed rate above the fixed deposit rate, such agreed rate shall only apply to that fixed deposit for that period. That fixed deposit shall not be rolled over automatically but shall terminate upon maturity and the proceeds thereof shall be deposited into a savings account in the same currency that is maintained by the Customer with the Bank or which the Bank may open for such purpose.

Fixed Deposit. I. The Bank shall only provide and accept any fixed deposits whose currency(ies) are maintained by the Bank in such currency, of such accordance with the minimum deposit amount, for such interest rate and deposit period and shall pay interest on such fixed deposit at such interest rate, as announced by the Bank may, at its discretion, specify from time to time. The Bank will provide the relevant deposit information notice (including but not limited to deposit receipt / deposit confirmation and monthly statement, etc.) to the Customer upon completion of the relevant deposit. II. If Unless otherwise processed in accordance with an agreed interest rate or any prior mutual agreement between the Bank Customer and the Bank, fixed deposits shall issue a receipt or confirmation for a fixed deposit placed by be handled at maturity according to the Customer, such document shall only be evidence terms and conditions originally agreed at the time of deposit and not a document the interest rate of title. IIIautomatic rollover of the same kind of deposit on that day. Any In the case of rollover of fixed deposit accepted by of a different period upon maturity, the Bank Customer is required to apply for each rollover and will be subject to the provisions rollover interest rate of this Agreement and to such terms and conditions as may be set out in the receipt or confirmation issued by same deposit period on the Bank thereforerelevant rollover date. If there the deposit is any conflict between this Agreement and such receipt or confirmation, the latter shall prevail. IV. Upon the withdrawal or any drawing of any fixed deposit, the Bank is entitled (but not obliged) to require delivery of the original receipt or confirmation, if any, issued by the Bank therefor. V. Unless otherwise processed with an agreed by the Bank, a fixed deposit can only be withdrawn on or after its maturity date or the expiry of its term. VI. No fixed deposit deposited with the Bank by the Customer shall be assigned or transferred to any other person. VII. Unless otherwise agreed or prior written instructions are received before the maturity date of a fixed deposit, the Bank may (but shall not be obliged) to, at its discretion, automatically renew that fixed deposit, together with the interest accrued thereon, upon that maturity date and upon each successive maturity date for a like term at the Bank’s prevailing interest rate for deposits in the currency of that account and for that term. No interest shall accrue or be payable on any fixed deposit which is not renewed. Where it is agreed that there shall not be any automatic rollover of a fixed deposit upon maturity, the proceeds of the fixed deposit deposits will be deposited into a savings account in the same currency that is maintained by the Customer with the Bank or which Bank. III. The Customer shall notify the Bank may open for such purposeof any changes to the handling of a fixed deposit in a manner acceptable to the Bank and shall only be effective upon receipt of confirmation from the Bank. Such changes shall be delivered to the Bank at least 1 business day before the maturity of the fixed deposit. VIIIIV. Any fixed deposits maintained with the Bank shall not be assigned or transferred to any other person. V. If the interest rate applicable to a fixed deposit for a particular period the Customer is an agreed rate or a rate above the fixed deposit rate, such agreed interest rate shall only apply to that the fixed deposit for of that period. That fixed deposit The Customer shall not be rolled over automatically but shall terminate upon maturity and entitled to have the proceeds thereof shall deposit rollover automatically. Proceeds of such fixed deposit will be deposited into a savings account in of the same currency that is maintained Customer upon maturity and the fixed deposit will be terminated. VI. Prior consent of the Bank must be obtained if any part of the fixed deposit be early withdrawn and it shall follow the terms and conditions determined by the Customer with Bank as conclusive from time to time. Please note that early withdrawal of any part of the Bank or which the Bank fixed deposit may open for such purposegive rise to economic consideration and loss.

Fixed Deposit. I. The Bank shall only accept fixed deposits in such currency, of such minimum deposit amount, for such deposit period and shall pay interest on such fixed deposit at such interest rate, as the Bank may, at its discretion, specify from time to time. II. If the Bank shall issue a receipt or confirmation for a fixed deposit placed by the Customer, such document shall only be evidence of deposit and not a document of title. III. Any fixed deposit accepted by the Bank will be subject to the provisions of this Agreement and to such terms and conditions as may be set out in the receipt or confirmation issued by the Bank therefore. If there is any conflict between this Agreement and such receipt or confirmation, the latter shall prevail.. CTCB−SG web use only IV. Upon the withdrawal or any drawing of any fixed deposit, the Bank is entitled (but not obliged) to require delivery of the original receipt or confirmation, if any, issued by the Bank therefor. V. Unless otherwise agreed by the Bank, a fixed deposit can only be withdrawn on or after its maturity date or the expiry of its term. VI. No fixed deposit deposited with the Bank by the Customer shall be assigned or transferred to any other person. VII. Unless otherwise agreed or prior written instructions are received before the maturity date of a fixed deposit, the Bank may (but shall not be obliged) to, at its discretion, automatically renew that fixed deposit, together with the interest accrued thereon, upon that maturity date and upon each successive maturity date for a like term at the Bank’s prevailing interest rate for deposits in the currency of that account and for that term. No interest shall accrue or be payable on any fixed deposit which is not renewed. Where it is agreed that there shall not be any automatic rollover of a fixed deposit upon maturity, the proceeds of the fixed deposit will be deposited into a savings account in the same currency that is maintained by the Customer with the Bank or which the Bank may open for such purpose. VIII. If the interest rate applicable to a fixed deposit for a particular period is an agreed rate above the fixed deposit rate, such agreed rate shall only apply to that fixed deposit for that period. That fixed deposit shall not be rolled over automatically but shall terminate upon maturity and the proceeds thereof shall be deposited into a savings account in the same currency that is maintained by the Customer with the Bank or which the Bank may open for such purpose.

Fixed Deposit. I. (A) Simultaneously with the deposit of the Escrow Amount in the Escrow Account and at any time during the term of this Agreement, the Company shall be entitled to issue written request(s) to the Manager to the Buy Back substantially in the format set out at Annexure IX (“Fixed Deposit Instruction”) for creation of fixed/term deposit(s) (“Fixed Deposit(s)”) on part of the monies lying in the Escrow Account provided that the Company shall maintain an amount of ₹ 96.25 Millions (Rupees Ninety Six Millions Two Hundred and Fifty Thousand only) in the Escrow Account in cash at all times until the completion of all obligations under the SEBI Buy Back Regulations. The Bank Company shall only accept fixed deposits place the Escrow Amount or any part thereof in such currencya Fixed Deposit(s) and create a lien in favour of the Manager, with partial liquidate/premature withdrawal facility. The Parties agree that the rate of such minimum deposit amount, for such deposit period and shall pay interest on such fixed deposit at such Fixed Deposit(s) shall be the prevailing rate of interest rate, as the Bank may, at its discretion, specify from time to time. II. If the Bank shall issue a receipt or confirmation for a fixed deposit placed offered by the CustomerEscrow Agent and any interest earned on such Fixed Deposit(s) shall, such document shall only notwithstanding any other provision(s) contained elsewhere in the Agreement, be evidence of deposit and not a document of title. III. Any fixed deposit accepted transferred to the account designated by the Bank will Company. Notwithstanding anything herein, all Fixed Deposits created in terms of this Agreement shall always be subject to the provisions escrow arrangement contemplated in this Agreement. The Escrow Agent is not required to withhold any amount from or in respect of the transactions contemplated herein, pursuant to any law, including, without limitation, any requirement for withholding tax. Provided however, any interest payments paid by the Escrow Agent in accordance with the terms of this Agreement shall be subject to deduction of withholding tax . The Company shall specify in the Fixed Deposit Instruction the tenor for the Fixed Deposit(s) (“Tenor”) and the rate of interest for the Fixed Deposit(s) as agreed upon between the Company and the Escrow Bank. (B) On receipt of the Fixed Deposit Instruction, the Manager to such terms the Buy Back shall immediately and conditions within 1 (one) Business Day issue to the Escrow Bank a written notice substantially in the format set out at Annexure X (“Fixed Deposit Request”) to deposit part of the monies lying in the Escrow Account in one or more Fixed Deposits (each, a “Fixed Deposit”) for the Tenor and the rate of interest for the Fixed Deposit(s) as may specified in the Fixed Deposit Instruction. (C) The Parties agree that a lien will be marked in favour of the Manager to the Buy Back on each Fixed Deposit and the same will be reflected on the receipt of the Fixed Deposit. The Manager to the Buy Back shall specify in the Fixed Deposit Request that a lien must be marked on the Fixed Deposit. (D) The Escrow Bank shall on receipt of the Fixed Deposit Request immediately and within 1 (one) Business Day create the Fixed Deposit(s) per the instructions set out in the Fixed Deposit Request and inform immediately and within 1 (one) Business Day the Company and the Manager about the creation of the Fixed Deposit(s). (E) The Parties agree that the Fixed Deposit shall be capable of being prematurely withdrawn at any time on or before the Tenor in accordance with the terms of this Agreement. (F) At any time on or before the Tenor, the Company shall be entitled to issue a written request to the Manager to the Buy Back substantially in the format set out at Annexure XI to issue instructions to the Escrow Bank to liquidate all or part of the Fixed Deposit(s) in accordance with the terms of this Agreement. (G) On receipt of instructions from the Company in terms of Clause 12.11 (F) of this Agreement, the Manager to the Buy Back shall immediately and within 1 (one) Business Day issue to the Escrow Bank a written notice substantially in the format set out at Annexure XII to liquidate the Fixed Deposit(s). Further, the Manager to the Buy Back shall (without receipt of any instructions from the Company) be entitled to issue to the Escrow Bank a written notice substantially in the format set out at Annexure XII to liquidate all or confirmation issued part of the Fixed Deposit(s). For avoidance of doubt, (i) interest will not be paid on those term deposits which are cancelled prior to a minimum period of 7 (seven) days from the date of creation of such term deposits; and (ii) penal charges will be levied by the Bank therefore. If there is any conflict between this Agreement and such receipt Escrow Agent for cancellation and/or closure or confirmation, the latter shall prevail. IV. Upon the withdrawal or any drawing of any fixed deposit, the Bank is entitled (but not obliged) to require delivery prematurity of the original receipt or confirmation, if any, issued by the Bank therefor. V. Unless otherwise agreed by the Bank, a fixed deposit can only be withdrawn on or after its maturity date or the expiry of its term. VI. No fixed deposit deposited with the Bank by the Customer shall be assigned or transferred to term deposit(s) any other person. VII. Unless otherwise agreed or prior written instructions are received time before the maturity date of a fixed depositsuch deposits, provided that no such charges can be deducted from the principal amount. The principal amount shall always be deposited in the Escrow Account upon its liquidation, pre-mature/partial liquidation or otherwise based on the instructions for lien removal provided by the Manager. (H) The Escrow Bank on receipt of instruction in the format set out at Annexure XII from the Manager to the Buy Back in terms of Clause 12.11 (G) shall immediately and within 1 (one) Business Day liquidate the Fixed Deposit(s) and transfer the principal amount and the interest on the Fixed Deposits on receipt of instruction in the format set out at Annexure XII from the Manager to the Buy Back in terms of Clause 12.11 (G) of this Agreement and Clauses 12.11 (I) and 12.11 (J) of this Agreement. On transfer of the amounts mentioned in this Clause 12.11 (H), the Escrow Bank may shall immediately and within 1 (but one) Business Day, inform the Company and the Manager to the Buy Back of the transfer of the amounts. (I) The Parties agree that upon maturity of the Fixed Deposit(s) or premature liquidation of the Fixed Deposit(s) in accordance with this Agreement, the principal amount of the Fixed Deposits shall not only be obligedtransferred to the Escrow Account. (J) to, at its discretion, automatically renew The Parties agree that fixed deposit, together with the interest accrued thereonand payable on the Fixed Deposit(s) (net of applicable tax deduction and pre-mature termination charges, upon that maturity date and upon each successive maturity date for a like term at if any) shall be credited to the Bank’s prevailing interest rate for deposits bank account as specified in the currency Fixed Deposit Request or as specified by the Company in the request in Clause 12.11 (F) of this Agreement. The Parties also agree that account and for that term. No with respect to the tax deduction on interest shall accrue or be payable paid on any fixed deposit which is not renewed. Where it is agreed that there shall not be any automatic rollover of a fixed deposit upon maturityFixed Deposit(s), the proceeds beneficiary of the fixed deposit will tax deduction certificates shall always be deposited into a savings account in the same currency Company. (K) The Parties agree that is maintained the instructions issued by the Customer with Manager to the Bank or which the Bank may open for such purpose. VIII. If the interest rate applicable Buy Back as set out in Clauses 12.11 (A) to a fixed deposit for a particular period is an agreed rate above the fixed deposit rate, such agreed rate shall only apply to that fixed deposit for that period. That fixed deposit shall not be rolled over automatically but shall terminate upon maturity and the proceeds thereof 12.11 (J) of this Agreement shall be deposited into a savings account in the same currency that is maintained by the Customer with the Bank or which the Bank may open for such purposefinal and binding on all Parties.