Common use of Notice of Demand Clause in Contracts

Notice of Demand. 4.1 Any demand for payment or any other demand or notice under this Guarantee and Indemnity, shall be deemed to be sufficiently served on the Guarantors by the Bank and/or any persons acting as solicitors for the Bank, if such demand for payment or any other demand or notice under this Guarantee and Indemnity, is left at the usual or last known address of the Guarantors in accordance with the records kept by the Bank, or at the address stated in Section 2 of the Schedule, or sent by ordinary mail to any of such addresses. Proof of posting or despatch to the Guarantors of any such demand for payment or any other demand or notice under this Guarantee and Indemnity shall be deemed to be proof of receipt by the Guarantors:- (a) if it is personally delivered, at the time of delivery; (b) in the case of a letter, on the second (2nd) day after posting; (c) in the case of a telex or cable, on the day following the date of despatch; (d) in the case of facsimile, immediately after transmission, provided that the sender has received an answer back confirmation. No change in the address for service of the Guarantors howsoever brought about shall be effective or binding on the Bank unless actual notice in writing of such change has been received by the Bank. 4.2 Alternatively the Customer(s) shall accept the demand for payment or any other demand or notice under this Guarantee and Indemnity from the Bank, on behalf of the Guarantors, and Clause 4.1 above shall apply to the Customer(s) in like manner, except that the word “Customer(s)” shall be substituted for the word “Guarantors”, and that the address for service of the Customer(s) shall be as stipulated in the Facility Agreement. 4.3 The Guarantors agree that upon any demand for payment being made pursuant to Clause 4.1 or 4.2 herein, the Guarantors shall make payment of the sum demanded within seven (7) days of the date of the notice of demand, and further agree that in the event that the Guarantors fail to make payment within the said period, the Bank shall be entitled to enforce all its legal rights and remedies and may take all such action as it may deem fit to recover the outstanding sum due to the Bank.

Notice of Demand. 4.1 Any demand for payment or any (a) Notices, demands and other demand or notice under communications to the Bank will be sent to its address stated in this Guarantee and Indemnity, shall be deemed to be sufficiently served on the Guarantors or as notified by the Bank and/or any persons acting as solicitors for to the BankGuarantor. Any notice required to be given (i) must be in writing; (ii) signed by the Guarantor and (iii) will be effective only on receipt by, if such demand for payment or any other demand or notice under this Guarantee and Indemnity, is left at the usual or last known address evidenced by an acknowledgement of the Guarantors in accordance with the records kept by the Bank, or at the address stated in Section 2 of the Schedulewhere applicable, or sent by ordinary mail to any of such addresses. Proof of posting or despatch to the Guarantors of any such demand for payment or any other demand or notice under this Guarantee and Indemnity shall be deemed to be proof of receipt by the Guarantors:- (a) if it is personally delivered, at the time of delivery; (b) in the case of a letter, on the second (2nd) day after posting; (c) in the case of a telex or cable, on the day following the date of despatch; (d) in the case of facsimile, immediately after transmission, provided that the sender has received an answer back confirmation. No change in the address for service of the Guarantors howsoever brought about shall be effective or binding on the Bank unless actual notice in writing of such change has been received are given via channels permitted by the Bank. 4.2 Alternatively (b) Notices, demands and other communications to the Customer(sGuarantor will be sent via any of the following modes and will be deemed to have and served on the Guarantor accordingly: (i) shall accept if delivered personally at the time of delivery or despatch; or (ii) if sent by post, on the seventh (7th) day after posting; or (iii) if sent by courier, immediately on the Guarantor’s acknowledgement on the courier consignment note; or (iv) if sent by any forms of instantaneous communication (including but not limited to e-mail, short message service (sms) and voice recordings), immediately; or (v) if by publication on the Bank’s website or at any of the Bank’s branches, on the day of publication. (c) It will be the Guarantor’s responsibility to ensure that any notices sent via any of the modes stated above are not read or accessed by any third party. The Bank will not be responsible in any manner for any embarrassment caused or for any loss or damage however arising, by the third party reading or accessing such notices. (d) Any notice that the Bank gives, including any notice of demand for payment monies lent or any other demand or notice under this Guarantee and Indemnity from advanced by the Bank to the Guarantor may be signed on the Bank’s behalf by a director, general manager, manager, assistant manager, officer or by any solicitor of a firm of solicitors acting on behalf of the GuarantorsBank’s behalf. If the notice is computer-generated, and Clause 4.1 above shall apply it need not be signed. (e) The Guarantor must give actual notice to the Customer(sBank of any change in address in order for such change of address to be effective and binding on the Bank. If there is any change to the Guarantor’s (i) telephone numbers; (ii) e-mail addresses; and/or (iii) other particulars recorded with the Bank (collectively "Personal Particulars"), the Guarantor must notify the Bank promptly to ensure that all correspondence and/or communications reach the Guarantor in like a timely manner, except that the word “Customer(s)” shall be substituted for the word “Guarantors”, and that the address for service of the Customer(s) shall be as stipulated in the Facility Agreement. 4.3 (f) The Guarantors agree Guarantor agrees that upon any demand for payment being made pursuant to Clause 4.1 or 4.2 hereinmade, the Guarantors shall Guarantor will make payment of the sum sums demanded within seven (7) days of the period set out in the date of the notice of demand, and further agree that in . If the event that the Guarantors fail Guarantor fails to make payment within the said such period, the Bank shall will be entitled to enforce all its legal rights and remedies and may take all such action as it may deem reasonably deems fit to recover the outstanding sum sums due to the Bank.

Notice of Demand. 4.1 Any demand for payment or any other demand or notice under this Guarantee and Indemnity, shall be deemed to be sufficiently served on the Guarantors by the Bank and/or any persons acting as solicitors for the Bank, if such demand for payment or any other demand or notice under this Guarantee and Indemnity, is left at the usual or last known address of the Guarantors in accordance with the records kept by the Bank, or at the address stated in Section 2 of the Schedule, or sent by ordinary mail to any of such addresses. Proof of posting or despatch to the Guarantors of any such demand for payment or any other demand or notice under this Guarantee and Indemnity shall be deemed to be proof of receipt by the Guarantors:- (a) if it is personally delivered, at the time of delivery; (b) in the case of a letter, on the second (2nd) day after posting; (c) in the case of a telex or cable, on the day following the date of despatch; (d) in the case of facsimile, immediately after transmission, provided that the sender has received an answer back confirmation. No change in the address for service of the Guarantors howsoever brought about shall be effective or binding on the Bank unless actual notice in writing of such change has been received by the Bank. 4.2 . Alternatively the Customer(s) Borrower shall accept the demand for payment or any other demand or notice under this Guarantee and Indemnity from the Bank, on behalf of the Guarantors, and Clause 4.1 above shall apply to the Customer(s) Borrower in like manner, except that the word “Customer(s)” "Borrower" shall be substituted for the word “"Guarantors”", and that the address for service of the Customer(s) Borrower shall be as stipulated in the Facility Loan Agreement. 4.3 . The Guarantors agree that upon any demand for payment being made pursuant to Clause 4.1 or 4.2 herein4.2, the Guarantors shall make payment of the sum demanded within seven (7) days of the date of the notice of demand, and further agree that in the event that the Guarantors fail to make payment within the said period, the Bank shall be entitled to enforce all its legal rights and remedies and may take all such action as it may deem fit to recover the outstanding sum due to the Bank.