POST DATED CHEQUES/ECS Sample Clauses

POST DATED CHEQUES/ECS. (a) Where the Borrower(s) has / have agreed to issue ECS/post-dated cheques for the repayment of the Loan amount and interest thereon, such cheque shall be deemed to have been given for adequate consideration already received by the Borrower(s). If as a result of variation in FIR, the number of EMIs or the amount thereof is increased, the Borrower(s) shall forthwith on demand by FICCL issue fresh ECS mandate / additional post-dated cheques in favour of FICCL. The Borrower(s) shall maintain adequate balance for realization of the cheques on their due dates for payment. It is expressly agreed that Borrower(s) shall at no point of time close the bank account from which the said cheques have been issued or issue any communication to the bank for stopping the presentment of the said cheques. The Borrower(s) acknowledges that any dishonour of ECS / cheque issued by the Borrower(s) would make the Borrower(s) liable to pay cheque dishonour charges as applicable as per FICCL’s internal policies from time to time for each such act of dishonour. It is expressly specified and agreed that the levy of such charge is without prejudice to all other rights of FICCL under the law, whether under Negotiable Instruments Act, 1881, the Indian Penal Code, 1860 or otherwise howsoever. It is also further agreed and understood that non-presentation of the ECS/cheques or any of them For FICCL Borrower Co-Borrower Authorised Signatory on part of FICCL for any reason whatsoever, shall not in any manner affect the liability of the Borrower(s). If the ECS or any of the post dated cheques/s delivered to FICCL by the Borrower(s) pursuant to the terms of this clause is/are lost, destroyed or misplaced while in the custody of FICCL; or become non encashable due to death, insolvency, lunacy, termination of authority or otherwise of the signatory or any or more of the signatories (if more than one) or the liquidation of the drawee bank; or requires replacement for any reason whatsoever in the discretion of FICCL, then in that event, the Borrower(s) shall within three working days of receipt of such intimation from FICCL substitute / replace any such ECS / cheques with a fresh ECS / cheque/s payable for the same amount as the previous ECS/ cheque/s which is/are being substituted. Should the Borrower(s) wish to swap / interchange the ECS/ post dated cheques from one bank to another bank, the Borrower(s) may do so by paying FICCL swap charges as applicable as per FICCL’s internal policies from t...
Sample 1
AutoNDA by SimpleDocs

Related to POST DATED CHEQUES/ECS

  • Contribution Formula Health Coverage a. Faculty Member Coverage. For faculty member health coverage for the 2018 2022 and 2019 2023 plan years, the Employer contributes an amount equal to ninety-five percent (95%) of the employee- only premium of the Minnesota Advantage Health Plan (Advantage).

  • Eligible Expenditures 1. Subject to Article 8.7 of the Regulation, eligible expenditures of this Programme are:

  • Eligible Expenses (a) The IESO will provide funding to the Recipient for Eligible Expenses, up to the Maximum Funding Amount, that are evidenced by supporting documentation as set out in this Funding Agreement or as otherwise required by the IESO.

  • Payment and Contract Price C1 Contract Price

  • Periodic Progress Payments The Owner shall make progress payments, less retainage, as set forth in Section 4 of the General Conditions.

  • Rest Period After Overtime (a) When overtime work is necessary, it will, wherever reasonably practicable, be so arranged that employees have at least 10 consecutive hours off duty between the work of successive days or shifts, including overtime.

  • Selection Under a Fixed Budget Services for assignments which the Association agrees meet the requirements of paragraph 3.5 of the Consultant Guidelines may be procured under contracts awarded on the basis of a Fixed Budget in accordance with the provisions of paragraphs 3.1 and 3.5 of the Consultant Guidelines.

  • Progress Payments; Retainage A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment on or about the first day of each month during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract.

  • Reimbursable Expenses; Maximum Total Payment; Invoicing District will make no payment until this Contract is fully executed by the authorized representatives of both parties.

  • Fiscal Year; Taxable Year The fiscal year and the taxable year of the Company is the calendar year.

Time is Money Join Law Insider Premium to draft better contracts faster.