Mode of Disbursement a) Disbursement of the Loan may be made directly to the Borrower or the Seller/Dealer/DSA of the Vehicle or in such other manner as may be decided solely by the Lender.
b) The Lender shall have the right to adjust PMII or any other dues against undisbursed amount, if any.
c) It is hereby agreed by the Borrower that in case the disbursement has been made directly to the Seller/DSA/Dealer/Manufacturer, all such payment shall be deemed to be Loan granted to and availed of by the Borrower under this Agreement. In the case of used Vehicle(s), the Loan amount may be disbursed by the Lender to the Seller/DSA/Dealer of the Vehicle(s) and such disbursement shall be deemed to be disbursement of Loan to the Borrower.
d) Disbursement shall be deemed to have been made to the Borrower or Seller/Dealer/DSA/Manufacturer on the date of the disbursement by cheque or pay order as the case may be.
e) Interest on the Loan will begin to accrue in favor of the Lender on and from the first date of disbursement in cases where the Loan is payable in tranches or from the date when the entire Loan amount was made in lump-sum.
f) In cases where the Loan is disbursed for purchase of the chassis of the Vehicle, the first Monthly Installment shall become due on the date when the body/chassis of the Vehicle is ready irrespective of whether the Vehicle is delivered to the Borrower/the Vehicle becomes functional.
Mode of Disbursement a) Disbursement of the Loan may be made directly to the Borrower or to the builder/developer and in case of ready built Property to the vendor thereof and/or in such other manner as may be decided solely by the Lender.
b) The Lender shall have the right to adjust PEMII or any other dues against undisbursed amount of the Loan.
c) Disbursement shall be deemed to have been made to the Borrower on the date of the disbursement by way of cheque or pay order as the case may be or on the date of setting up of the Loan account limit.
d) Interest on the Loan will begin to accrue in favour of the Lender as and from the date of disbursement of the Loan.
e) The disbursal for the acquisition of the Property will be made after the Borrower's own contribution has been made for the same to the builder/developer/seller, and such proof is furnished to the Lender by the Borrower, as may be necessary or desired by the Lender. The disbursal towards construction/improvement of Property shall be made only after the Borrower commences the construction/improvement work on the Property, and such proof is furnished to the Lender by the Borrower, as may be necessary or desired by the Lender. The disbursal shall be in stages as per the progress of work as prescribed in terms of the internal guidelines / policy of the Lender, as applicable from time to time. The decision of the Lender in this regard shall be final, conclusive and binding on the Borrower. The Borrower shall acknowledge the receipt, in the form required by the Lender, of each amount so disbursed.
Mode of Disbursement. The disbursement of the Loan Amount or any part thereof by the Lender may be made to the Borrower, or directly to any other person as the Borrower may request, as the Lender may in its sole discretion deem fit. In case the Loan being availed of by the Borrower is in replacement of/switchover of a loan earlier availed of by the Borrower from another bank/financial institution, the disbursement of the Loan Amount or any part thereof by the Lender may be made to the Borrower, or directly to such other bank/financial institution, as the Lender may in its sole discretion deem fit.”
Mode of Disbursement. The Bank may disburse the Loan either in lump sum or in suitable installments to be decided by the Bank with reference to the need or progress of project sought to be funded by the Borrower, which decision shall be final and binding on the Borrower. The disbursement shall be made by the Bank by issuing a Banker's Pay Order or a Demand Draft crossed as "A/c Payee only" or through a credit to a designated bank account, details whereof are specified in the Schedule hereto. The charges in relation to the disbursement (including charges of issuance or collection of proceeds by the beneficiary of such pay order or demand draft) shall be borne by the Borrower. The Bank may, by giving reasonable notice to the Borrower, suspend or cancel further disbursements of the Loan if the Loan amount shall not have been fully drawn within a reasonable time or due to any other reason whatsoever, as deemed fit by the Bank.
Mode of Disbursement. The Bank may disburse the Loan either in lump sum or in suitable installments to be decided by the Bank. The disbursement shall be made by the Bank through a credit to a designated bank account or by issuing a banker's pay order or a demand draft crossed as "A/c payee only" at the discretion of the Bank considering the request of the Borrower, details whereof are specified in the Schedule hereto. The charges in relation to the disbursement (including charges of issuance or collection of proceeds by the beneficiary of such pay order or demand draft) shall be borne by the Borrower.
Mode of Disbursement. 3.1 The Bank shall disburse the Personal Loan in the manner given in the Schedule hereto. The Bank shall credit the Personal Loan amount to the designated Bank account, details provided in the Schedule, in the name of the Borrower to be held with the Bank itself or with any other Bank or such Bank to which Electronic Debit Instructions are given as specified in Clause 6.4 hereinafter (“Personal Loan Account”). In the alternative, the Bank may, at the request of the Borrower, disburse the loan by issuing Pay Order drawn in favour of the Borrower.
Mode of Disbursement. All payments to be made by the Lender to the Borrower under or in terms of this Agreement shall be made by Cheque/Demand Draft/ Pay order/ Banker’s Cheque duly crossed and marked “Account Payee Only” or by NEFT or RTGS mode and the collection charges, if any in respect of all such Cheque/Demand Draft/ Pay order/ Banker’s Cheque will have to be borne by the Borrower. The cheque will be in the name of the Borrower or the person/ entity in which / whose name the disbursement memo is filled for release of loan amount.
Mode of Disbursement. All the payments to be made by IHFL to the Borrower under or in terms of this Agreement shall be made by the cheque duly crossed and marked "Account Payee" only and the collection charges, if any, in respect of all such cheques will have to be borne by the Borrower and interest on IHFL Loan will begin to accrue in favour of IHFL as on the date of delivery or dispatch of the cheque, irrespective of the time taken for transit / collection/ realization by the Borrower and his bank.
Mode of Disbursement. The Bank may disburse the Loan either in lump sum or in case of Home Loan, Property Purchase Loan, in suitable installments to be decided by the Bank with reference to the need or progress of construction, which decision shall be final and binding on the Borrower. The disbursement shall be made by the Bank by issuing a Banker’s Pay Order or a Demand Draft crossed as “A/c Payee only” or through a credit to a designated bank account, details whereof are communicated by the Borrower to the Bank:
(i) in case of Home Loan, Property Purchase Loan, in the name of
a) the seller or owner or developer towards payment of the purchase price of the Property from whom the Property is being purchased by utilising the Loan;
b) the materials supplier, civil contractor or any other person as notified by the Borrower for payment towards the materials, labour or professional costs, towards the construction or Improvement of the Property;
c) the previous financier towards the repayment of the previous loan to be taken over by utilising the Loan and/ or
d) any other entity/ individual with the mutual consent of the Borrower and the Bank.
(ii) in case of Loan Against Property, in the name of the Borrower or the previous financer towards the repayment of the previous loan to be taken over by utilising the Loan or any other entity/ individual with the mutual consent of the Borrower and the Bank. The Bank shall have the right to adjust PEMII or any other dues against undisbursed amount. The charges in relation to the disbursement (including charges of issuance or collection of proceeds by the beneficiary of such pay order or demand draft) shall be borne by the Borrower. The Bank may, by giving reasonable notice to the Borrower, suspend or cancel further disbursements of the Loan if the Loan amount shall not have been fully drawn within a reasonable time or due to any other reason, as deemed fit by the Bank including but not limited to reason of delay in construction of the Property. The Bank reserves the right to ask for additional documents of the Borrower relating to the financial status, utilisation of Loan proceeds, Property, stage of construction of the Property, address and contact details, documents relating to know your customer (KYC) requirements, etc. post disbursement of the Loan. In the event such documents are not submitted by the Borrower within the time period stipulated by the Bank, the Bank shall be entitled, without prejudice to its right to recall the Loan or exe...
Mode of Disbursement a) All payments to be made by Bank to the Borrower under or in terms of this Agreement shall be made by a Cheque duly crossed and marked “A/c. Payee only”/ RTGS and the collection charges, if any in respect of all such Cheque/RTGS, will have to be borne by the Borrower. The interest on the loan will begin to accrue in favour of Bank as and from the dispatch of the Cheque, irrespective of the time taken for transit/collection/realization of the cheque by the Borrower or his Bank.
b) Disbursement shall be as mentioned by the borrower under the Loan disbursement request form, as applicable.
