Common use of Repayment of the Loan and Interest Clause in Contracts

Repayment of the Loan and Interest. o If the monthly installments or any other payments due, are not paid on or before the due date, substitute interest of 3% p.m. shall be charged for the period of default with compounding at monthly rests. Failure of the bank to send notice for payment or deposit of post-dated cheques shall not serve as a reason for non- payment of monthly installments o The rate of interest as indicated above is the current rates of interest applicable on the loan. The actual interest rate chargeable on the loan and the EMI/PRE EMI would be as prevailing on the date of disbursement of the loan. o Due dates for payment of pre-EMI and EMI/MI depends on the date of the first disbursement made and the Pre EMI Interest is payable every month. o All payments to be made favoring “Fasttrack Housing Finance Limited”.

Appears in 3 contracts

Samples: Loan Agreement, Loan Agreement, Loan Agreement

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Repayment of the Loan and Interest. o If the monthly installments instalments or any other payments due, are not paid on or before the due date, substitute interest of 3% p.m. shall be charged for the period of default with compounding at monthly rests. Failure of the bank to send notice for payment or deposit of post-dated cheques shall not serve as a reason for non- payment of monthly installments instalments o The rate of interest as indicated above is the current rates of interest applicable on the loan. The actual interest rate chargeable on the loan and the EMI/PRE EMI would be as prevailing on the date of disbursement of the loan. o Due dates for payment of pre-EMI and EMI/MI depends on the date of the first disbursement made and the Pre EMI EMI-Interest is payable every month. o All payments to be made favoring “Fasttrack favouring XXXXX Housing Finance Private Limited”.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement

Repayment of the Loan and Interest. o If the monthly installments instalments or any other payments due, are not paid on or before the due date, substitute interest of 3% p.m. shall be charged for the period of default with compounding at monthly rests. Failure of the bank to send notice for payment or deposit of post-dated cheques shall not serve as a reason for non- non-payment of monthly installments instalments o The rate of interest as indicated above is the current rates of interest applicable on the loan. The actual interest rate chargeable on the loan and the EMI/PRE EMI would be as prevailing on the date of disbursement of the loan. o Due dates for payment of pre-EMI and EMI/MI depends on the date of the first disbursement made and the Pre EMI EMI-Interest is payable every month. o All payments to be made favoring “Fasttrack favouring XXXXX Housing Finance Private Limited”.

Appears in 1 contract

Samples: Loan Agreement

Repayment of the Loan and Interest. o If the monthly installments or any other payments due, are not paid on or before the due date, substitute interest of 3% p.m. shall p.m.shall be charged for the period of default with compounding at monthly rests. Failure of the bank to send notice for payment or deposit of post-dated cheques shall not serve as a reason for non- non-payment of monthly installments o The rate of interest as indicated above is the current rates of interest applicable on the loan. The actual interest rate chargeable on the loan and the EMI/PRE EMI would be as prevailing on the date of disbursement of the loan. o Due dates for payment of pre-EMI and EMI/MI depends on the date of the first disbursement made and the Pre EMI Interest is payable every month. o All payments to be made favoring Fasttrack Housing Finance Limited. Prepayment Charges –As per Rules of Company.

Appears in 1 contract

Samples: Loan Agreement

Repayment of the Loan and Interest. o If the monthly installments instalments or any other payments due, are not paid on or before the due date, substitute interest of 3% p.m. shall be charged for the period of default with compounding at monthly rests. Failure of the bank to send notice for payment or deposit of post-dated cheques shall not serve as a reason for non- non-payment of monthly installments instalments o The rate of interest as indicated above is the current rates of interest applicable on the loan. The actual interest rate chargeable on the loan and the EMI/PRE EMI would be as prevailing on the date of disbursement of the loan. o Due dates for payment of pre-EMI and EMI/MI depends on the date of the first disbursement made and the Pre EMI EMI-Interest is payable every month. o All payments to be made favoring “Fasttrack Housing Finance Limited”.

Appears in 1 contract

Samples: Loan Agreement

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Repayment of the Loan and Interest. o If the monthly installments instalments or any other payments due, are not paid on or before the due date, substitute interest of 3% p.m. shall be charged for the period of default with compounding at monthly rests. Failure of the bank to send notice for payment or deposit of post-dated cheques shall not serve as a reason for non- non-payment of monthly installments instalments o The rate of interest as indicated above is the current rates of interest applicable on the loan. The actual interest rate chargeable on the loan and the EMI/PRE EMI would be as prevailing on the date of disbursement of the loan. o Due dates for payment of pre-EMI and EMI/MI depends on the date of the first disbursement made and the Pre EMI EMI-Interest is payable every month. o All payments to be made favoring “Fasttrack favouring XXXXX Housing Finance Private Limited”.

Appears in 1 contract

Samples: Loan Agreement

Repayment of the Loan and Interest. o If the monthly installments instalments or any other payments due, are not paid on or before the due date, substitute interest of 3% p.m. shall be charged for the period of default with compounding at monthly rests. Failure of the bank to send notice for payment or deposit of post-dated cheques shall not serve as a reason for non- payment of monthly installments instalments o The rate of interest as indicated above is the current rates of interest applicable on the loan. The actual interest rate chargeable on the loan and the EMI/PRE EMI would be as prevailing on the date of disbursement of the loan. o Due dates for payment of pre-EMI and EMI/MI depends on the date of the first disbursement made and the Pre EMI EMI-Interest is payable every month. o All payments to be made favoring “Fasttrack favouring XXXXX Housing Finance Private Limited”.

Appears in 1 contract

Samples: Loan Agreement

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