Common use of Restriction of Liability Clause in Contracts

Restriction of Liability. The sanction of Facility is at the sole discretion of the Bank and the Borrower shall not have any right to insist the Bank in this regard. The Bank does not undertake any obligation to finance any further credit requirements of the Borrower, whether such requirements arise on account of increase in cost of the Vehicle or otherwise. The Bank is not bound to disburse the Facility even if sanctioned, unless the Borrower conforms to the Conditions Precedent (discussed hereunder) and the terms and conditions governing the Facility. If the Borrower fails to comply with any of the terms and conditions governing the Facility, or if the Bank is of the opinion that the Borrower is not compliant of any terms and conditions governing the Facility, the Bank may cancel the Facility at its discretion, even if the Facility is disbursed in full or in part. Any increase/escalation in cost of the Vehicle shall be borne/met by the Borrower and the Bank’s liability to disburse amounts under the Facility, at any time, shall not exceed the limit/amount mentioned in the Facility Agreement. Further, the Borrower shall be solely liable to bear the costs of insuring and registering the Vehicle. The Borrower shall continue to remain at all times liable and responsible for ensuring the payment/repayment of all EPI of Outstanding Amount on or before the relevant Due Date(s) without any further notice/intimation given by the Bank, at such place/s as the Bank may specify, without any deductions whatsoever so as to enable the Bank to fully realize the amounts due on or before the respective Due Date(s). If any Due Date falls on a Public Holiday the repayment should be made on the succeeding Business Day. If the Borrower has executed any standing instruction or ACH/ECS instruction, the Bank may, at its discretion, present such instructions for encashment, in such situations, on any preceding or succeeding Business Day of the Due Date and the Borrower should maintain adequate funds in the funding account accordingly. If the repayment is made through any payment aggregator, such repayments will be accepted by the Bank subject to such conditions as may be stipulated by the Bank. Credit for payments by any method will be given only after realization, on the Due Date(s) occurring after such realization. The acceptance by the Bank of any payment which is less than the full EPI or the amount due as on the given date shall not constitute a waiver of the Bank’s right to receive payment in full at such time or at any subsequent time or a waiver of any other rights whatsoever of the Bank.

Restriction of Liability. The sanction of Facility is at the sole discretion of the Bank and the Borrower shall not have any right to insist the Bank in this regard. The Bank does not undertake any obligation to finance any further credit requirements of the Borrower, whether such requirements arise on account of increase in cost of the Vehicle or otherwise. The Bank USFB is not bound to disburse the Facility Loan even if sanctioned, unless the Borrower conforms to the Conditions Precedent (discussed hereunder) and the terms and conditions governing the FacilityLoan. If the Borrower fails to comply with any of the terms and conditions governing the FacilityLoan, or if the Bank USFB is of the opinion that the Borrower is not compliant of any terms and conditions governing the FacilityLoan, the Bank USFB may cancel the Facility Loan at its discretion, even if the Facility Loan is disbursed in full or in part. Any increase/escalation in cost of the Vehicle shall be borne/met by the Borrower and the Bank’s liability to disburse amounts under the Facility, at any time, shall not exceed the limit/amount mentioned in the Facility Agreement. Further, the Borrower shall be solely liable to bear the costs of insuring and registering the Vehicle. The Borrower shall continue to remain at all times liable and responsible for ensuring the payment/repayment of all EPI PI of Outstanding Amount Outstandings on or before the relevant Due Date(s) without any further notice/intimation being given by the BankUSFB, at such place/s as the Bank USFB may specify, without any deductions whatsoever so as to enable the Bank USFB to fully realize the amounts due on or before the respective Due Date(s). If any Due Date falls on a Public Holiday the repayment should be made on the succeeding Business Day. If the Borrower has executed any standing instruction or ACH/ECS instruction, the Bank may, at its discretion, present such instructions for encashment, in such situations, on any preceding or succeeding Business Day of the Due Date and the Borrower should maintain adequate funds in the funding account accordingly. If the repayment is made through any payment aggregator, such repayments will be accepted by the Bank subject to such conditions as may be stipulated by the Bank. Credit for payments by any method will be given only after realization, on the Due Date(s) occurring after such realization. The acceptance by the Bank USFB of any payment which is less than the full EPI or the amount due as on the given date PI shall not constitute a waiver of the BankUSFB’s right to receive payment in full at such time or at any subsequent time or a waiver of any other rights whatsoever of USFB. USFB shall have the Bankright to place the Loan, along with any accrued Interest, under moratorium or any other agreement as it may deem fit on a case to case basis. USFB may grant need based restructuring/rescheduling of Loan (by enlarging the tenure or by postponing the mature date of the Loan, and by keeping the PI unaltered) in case USFB is of the view that the Borrower has been affected by natural calamity or national disaster. USFB will consider such restructuring/rescheduling of Loan only at its pure discretion. If the Loan is restructured/rescheduled in any manner whatsoever, the Borrower shall conduct the Loan account as per the terms and conditions governing such restructure/reschedule. Such restructuring/rescheduling of Loan by USFB shall not constitute any waiver of rights vested on USFB or obligations of the Borrower under the existing Loan. Further, despite such restructuring/rescheduling USFB shall have the right to recover the Outstandings on the existing Loan as per the covenants in the Agreement.

Restriction of Liability. The sanction of Facility Loan is at the sole discretion of the Bank USFB and the Borrower shall not have any right to insist the Bank USFB in this regard. The Bank does not undertake any USFB undertakes no obligation to finance meet any further credit requirements of the Borrower, whether such requirements arise on account of increase growth in cost business of the Vehicle Borrower or otherwise, without proper credit evaluation. The Bank USFB is not bound to disburse the Facility Loan even if sanctioned, unless the Borrower conforms to the Conditions Precedent (discussed hereunder) and the terms and conditions governing the FacilityLoan. If the Borrower fails to comply with any of the terms and conditions governing the FacilityLoan, or if the Bank USFB is of the opinion that the Borrower is not compliant of any terms and conditions governing the FacilityLoan, the Bank USFB may cancel the Facility Loan at its discretion, even if the Facility Loan is disbursed in full or in part. Any increase/escalation in cost of the Vehicle shall be borne/met by the Borrower and the Bank’s liability to disburse amounts under the Facility, at any time, shall not exceed the limit/amount mentioned in the Facility Agreement. Further, the Borrower shall be solely liable to bear the costs of insuring and registering the Vehicle. The Borrower shall continue to remain at all times liable and responsible for ensuring the payment/repayment of all EPI of Outstanding Amount Dues on or before the relevant Due Date(s) without any further notice/intimation being given by the Bank, USFB at such place/s as the Bank USFB may specify, without any deductions whatsoever so as to enable the Bank USFB to fully realize the amounts due on or before the respective Due Date(s). If any Due Date falls on a Public Holiday the repayment should be made on the succeeding Business Day. If the Borrower has executed any standing instruction or ACH/ECS instruction, the Bank may, at its discretion, present such instructions for encashment, in such situations, on any preceding or succeeding Business Day of the Due Date and the Borrower should maintain adequate funds in the funding account accordingly. If the repayment is made through any payment aggregator, such repayments will be accepted by the Bank subject to such conditions as may be stipulated by the Bank. Credit for payments by any method will be given only after realization, on the Due Date(s) occurring after such realization. The acceptance by the Bank USFB of any payment which is less than the full EPI or the amount due as on the given date shall not constitute a waiver of the BankUSFB’s right to receive payment in full at such time or at any subsequent time or a waiver of any other rights whatsoever of the BankUSFB.

Restriction of Liability. The sanction of Facility is at the sole discretion of the Bank and the Borrower shall not have any right to insist the Bank in this regard. The Bank does not undertake any obligation to finance any further credit requirements of the Borrower, whether such requirements arise on account of increase in cost of the Vehicle or otherwise. The Bank is not bound to disburse the Facility even if sanctioned, unless the Borrower conforms to the Conditions Precedent (discussed hereunder) and the terms and conditions governing the Facility. If the Borrower fails to comply with any of the terms and conditions governing the Facility, or if the Bank is of the opinion that the Borrower is not compliant of any terms and conditions governing the Facility, the Bank may cancel the Facility at its discretion, even if the Facility is disbursed in full or in part. Any increase/escalation in cost of the Vehicle shall be borne/met by the Borrower and the Bank’s liability to disburse amounts under the Facility, at any time, shall not exceed the limit/amount mentioned in the Facility Agreement. Further, the Borrower shall be solely liable to bear the costs of insuring and registering the Vehicle. The Borrower shall continue to remain at all times liable and responsible for ensuring the payment/repayment of all EPI of Outstanding Amount on or before the relevant Due Date(s) without any further notice/intimation given by the Bank, at such place/s as the Bank may specify, without any deductions whatsoever so as to enable the Bank to fully realize the amounts due on or before the respective Due Date(s). If any Due Date falls on a Public Holiday the repayment should shall be made on the succeeding Business Day. If the Borrower has executed any standing instruction or ACH/ECS ACH instruction, the Bank may, at its discretion, present such instructions for encashment, in such situations, on any preceding or succeeding Business Day of the Due Date and the Borrower should shall maintain adequate funds in the funding account accordingly. If the repayment is made through any payment aggregator, such repayments will be accepted by the Bank subject to such conditions as may be stipulated by the Bank. Credit for payments by any method will be given only after realization, on the Due Date(s) occurring after such realization. The acceptance by the Bank of any payment which is less than the full EPI or the amount due as on the given date shall not constitute a waiver of the Bank’s right to receive payment in full at such time or at any subsequent time or a waiver of any other rights whatsoever of the Bank.

Restriction of Liability. The sanction of Facility is at the sole discretion of the Bank and the Borrower shall not have any right to insist the Bank in this regard. The Bank does not undertake any obligation to finance any further credit requirements of the Borrower, whether such requirements arise on account of increase in cost of the Vehicle or otherwise. The Bank is not bound to disburse the Facility even if sanctioned, unless the Borrower conforms to the Conditions Precedent (discussed hereunder) and the terms and conditions governing the Facility. If the Borrower fails to comply with any of the terms and conditions governing the Facility, or if the Bank is of the opinion that the Borrower is not compliant of any terms and conditions governing the Facility, the Bank may cancel the Facility at its discretion, even if the Facility is disbursed in full or in part. Any increase/escalation in cost of the Vehicle shall be borne/met by the Borrower and the Bank’s liability to disburse amounts under the Facility, at any time, shall not exceed the limit/amount mentioned in the Facility Agreement. Further, the Borrower shall be solely liable to bear the costs of insuring and registering the Vehicle. The Borrower shall continue to remain at all times liable and responsible for ensuring the payment/repayment of all EPI of Outstanding Amount on or before the relevant Due Date(s) without any further notice/intimation given by the Bank, at such place/s as the Bank may specify, without any deductions whatsoever so as to enable the Bank to fully realize the amounts due on or before the respective Due Date(s). If any Due Date falls on a Public Holiday the repayment should be made on the succeeding Business Day. If the Borrower has executed any standing instruction or ACH/ECS ACH instruction, the Bank may, at its discretion, present such instructions for encashment, in such situations, on any preceding or succeeding Business Day of the Due Date and the Borrower should maintain adequate funds in the funding account accordingly. If the repayment is made through any payment aggregator, such repayments will be accepted by the Bank subject to such conditions as may be stipulated by the Bank. Credit for payments by any method will be given only after realization, on the Due Date(s) occurring after such realization. The acceptance by the Bank of any payment which is less than the full EPI or the amount due as on the given date shall not constitute a waiver of the Bank’s right to receive payment in full at such time or at any subsequent time or a waiver of any other rights whatsoever of the Bank.

Restriction of Liability. The sanction of Facility is at the sole discretion of the Bank and the Borrower shall not have any right to insist the Bank in this regard. The Bank does not undertake any obligation to finance any further credit requirements of the Borrower, whether such requirements arise on account of increase in cost of the Vehicle or otherwise. The Bank is not bound to disburse the Facility even if sanctioned, unless the Borrower conforms to the Conditions Precedent (discussed hereunder) and the terms and conditions governing the Facility. If the Borrower fails to comply with any of the terms and conditions governing the Facility, or if the Bank is of the opinion that the Borrower is not compliant of any terms and conditions governing the Facility, the Bank may cancel the Facility at its discretion, even if the Facility is disbursed in full or in part. Any increase/escalation in cost of the Vehicle shall be borne/met by the Borrower and the Bank’s liability to disburse amounts under the Facility, at any time, shall not exceed the limit/amount mentioned in the Facility Agreement. Further, the Borrower shall be solely liable to bear the costs of insuring and registering the Vehicle. The Borrower shall continue to remain at all times liable and responsible for ensuring the payment/repayment of all EPI of Outstanding Amount on or before the relevant Due Date(s) without any further notice/intimation given by the Bank, at such place/s as the Bank may specify, without any deductions whatsoever so as to enable the Bank to fully realize the amounts due on or before the respective Due Date(s). If any Due Date falls on a Public Holiday the repayment should be made on the succeeding Business Day. If the Borrower has executed any standing instruction or ACH/ECS instruction, the Bank may, at its discretion, present such instructions for encashment, in such situations, on any preceding or succeeding Business Day of the Due Date and the Borrower should maintain adequate funds in the funding account accordingly. If the repayment is made through any payment aggregator, such repayments will be accepted by the Bank subject to such conditions as may be stipulated by the Bank. Credit for payments by any method will be given only after realization, on the Due Date(s) occurring after such realization. The acceptance by the Bank of any payment which is less than the full EPI or the amount due as on the given date shall not constitute a waiver of the Bank’s right to receive payment in full at such time or at any subsequent time or a waiver of any other rights whatsoever of the Bank.

Restriction of Liability. The sanction of Facility is at the sole discretion of the Bank and the Borrower shall not have any right to insist the Bank in this regard. The Bank does not undertake any obligation to finance any further credit requirements of the Borrower, whether such requirements arise on account of increase in cost of the Vehicle or otherwise. The Bank is not bound to disburse the Facility even if sanctioned, unless the Borrower conforms to the Conditions Precedent (discussed hereunder) and the terms and conditions governing the Facility. If the Borrower fails to comply with any of the terms and conditions governing the Facility, or if the Bank is of the opinion that the Borrower is not compliant of any terms and conditions governing the Facility, the Bank may cancel the Facility at its discretion, even if the Facility is disbursed in full or in part. Any increase/escalation in cost of the Vehicle shall be borne/met by the Borrower and the Bank’s liability to disburse amounts under the Facility, at any time, shall not exceed the limit/amount mentioned in the Facility Agreement. Further, the Borrower shall be solely liable to bear the costs of insuring and registering the Vehicle. The Borrower shall continue to remain at all times liable and responsible for ensuring the payment/payment / repayment of all EPI of Outstanding Amount on or before the relevant Due Date(s) without any further notice/notice / intimation being given by the Bank, at such place/s as the Bank may specify, without any deductions whatsoever so as to enable the Bank to fully realize the amounts due on or before the respective Due Date(s). If any Due Date falls on a Public Holiday the repayment should be made on the succeeding Business Day. If the Borrower has executed any standing instruction or ACH/ECS instruction, the Bank may, at its discretion, present such instructions for encashment, in such situations, on any preceding or succeeding Business Day of the Due Date and the Borrower should maintain adequate funds in the funding account accordingly. If the repayment is made through any payment aggregator, such repayments will be accepted by the Bank subject to such conditions as may be stipulated by the Bank. Credit for payments by any method will be given only after realization, on realization or on the relative Due Date(s) occurring after such realizationwhichever is later. The acceptance by the Bank of any payment which is less than the full EPI or the amount due as on the given date shall not constitute a waiver of the Bank’s right to receive payment in full at such time or at any subsequent time or a waiver of any other rights whatsoever of the Bank.

Restriction of Liability. The sanction of Facility Loan is at the sole discretion of the Bank USFB and the Borrower shall not have any right to insist the Bank USFB in this regard. The Bank USFB does not undertake any obligation to finance any further credit requirements of the Borrower, whether such requirements arise on account of increase in cost of the Vehicle business prosperity or otherwise. The USFB shall not take over any existing credit facility/loan of the Borrower, availed from any other bank/lender, unless the Borrower submits to the Bank a specific request along with supporting materials. USFB is not bound to disburse the Facility Loan even if sanctioned, unless the Borrower conforms to the Conditions Precedent (discussed hereunder) and the terms and conditions governing the FacilityLoan. If the Borrower fails to comply with any of the terms and conditions governing the FacilityLoan, or if the Bank USFB is of the opinion that the Borrower is not compliant of any terms and conditions governing the FacilityLoan, the Bank USFB may cancel and recall the Facility Loan at its discretion, even if the Facility Loan is disbursed in full or in part. Any increase/escalation in cost of the Vehicle shall be borne/met by the Borrower and the Bank’s liability to disburse amounts under the Facility, at any time, shall not exceed the limit/amount mentioned in the Facility Agreement. Further, the Borrower shall be solely liable to bear the costs of insuring and registering the Vehicle. The Borrower shall continue to remain at all times liable and responsible for ensuring the payment/repayment of all EPI EMI of Outstanding Amount on or before the relevant Due Date(s) without any further notice/intimation being given by the BankUSFB, at such place/s as the Bank USFB may specify, without any deductions whatsoever so as to enable the Bank USFB to fully realize the amounts due on or before the respective Due Date(s). If any Due Date falls on a Public Holiday the repayment should be made on the succeeding Business Day. If the Borrower has executed any standing instruction or ACH/ECS instruction, the Bank may, at its discretion, present such instructions for encashment, in such situations, on any preceding or succeeding Business Day of the Due Date and the Borrower should maintain adequate funds in the funding account accordingly. If the repayment is made through any payment aggregator, such repayments will be accepted by the Bank subject to such conditions as may be stipulated by the Bank. Credit for payments by any method will be given only after realization, on realization or on the relative Due Date(s) occurring after such realizationor the date for payment of EMI, whichever is later. The acceptance by the Bank USFB of any payment which is less than the full EPI EMI or the amount due as on the given date shall not constitute a waiver of the BankUSFB’s right to receive payment in full at such time or at any subsequent time or a waiver of any other rights whatsoever of USFB. The Borrower shall not be entitled to cancel the BankLoan after the disbursement or to refuse to accept disbursement of the Loan, except with the written approval of USFB. If the Borrower’s request for closure/cancellation of the Loan is favoured by USFB, the Borrower should pay to USFB such cancellation charges or foreclosure charges as may be stipulated by USFB apart from paying all amount(s) due and payable by the Borrower as per the Finance Documents. In case the Property is in a housing project, where the project is run on commercial lines, and any Authority is interested in promoting the project either for the benefit of the weaker sections of the society or otherwise, and a part of the project cost is met by the Authority through subsidies made available and/or contributions to the capital of the institutions taking up the project, USFB shall have the right to arrive at the Loan amount after reducing from the total project cost the amount of subsidy/capital contribution receivable from the Authority and any other resources proposed to be made available by the Authority.

Restriction of Liability. The sanction of Facility is at the sole discretion of the Bank and the Borrower shall not have any right to insist the Bank in this regard. The Bank does not undertake any obligation to finance any further credit requirements of the Borrower, whether such requirements arise on account of increase in cost of the Vehicle or otherwise. The Bank USFB is not bound to disburse the Facility Loan even if sanctioned, unless the Borrower conforms to the Conditions Precedent (discussed hereunder) and the terms and conditions governing the FacilityLoan. If the Borrower fails to comply with any of the terms and conditions governing the FacilityLoan, or if the Bank USFB is of the opinion that the Borrower is not compliant of any terms and conditions governing the FacilityLoan, the Bank USFB may cancel the Facility Loan at its discretion, even if the Facility Loan is disbursed in full or in part. Any increase/escalation in cost of the Vehicle shall be borne/met by the Borrower and the Bank’s liability to disburse amounts under the Facility, at any time, shall not exceed the limit/amount mentioned in the Facility Agreement. Further, the Borrower shall be solely liable to bear the costs of insuring and registering the Vehicle. The Borrower shall continue to remain at all times liable and responsible for ensuring the payment/repayment of all EPI PI of Outstanding Amount Outstandings on or before the relevant Due Date(s) without any further notice/intimation being given by the BankUSFB, at such place/s as the Bank USFB may specify, without any deductions whatsoever so as to enable the Bank USFB to fully realize the amounts due on or before the respective Due Date(s). If any Due Date falls on a Public Holiday the repayment should be made on the succeeding Business Day. If the Borrower has executed any standing instruction or ACH/ECS instruction, the Bank may, at its discretion, present such instructions for encashment, in such situations, on any preceding or succeeding Business Day of the Due Date and the Borrower should maintain adequate funds in the funding account accordingly. If the repayment is made through any payment aggregator, such repayments will be accepted by the Bank subject to such conditions as may be stipulated by the Bank. Credit for payments by any method will be given only after realization, on the Due Date(s) occurring after such realization. The acceptance by the Bank USFB of any payment which is less than the full EPI or the amount due as on the given date PI shall not constitute a waiver of the BankUSFB’s right to receive payment in full at such time or at any subsequent time or a waiver of any other rights whatsoever of USFB. USFB shall have the Bank.right to place the Loan, along with any accrued Interest, under moratorium or any other agreement as it may deem fit on a case to case basis. USFB may grant need based restructuring/rescheduling of Loan (by enlarging the tenure or by postponing the mature date of the Loan, and by keeping the PI unaltered) in case USFB is of the view that the Borrower has been affected by natural calamity or national disaster. USFB will consider such restructuring/rescheduling of Loan only at its pure discretion. If the Loan is restructured/rescheduled in any manner whatsoever, the Borrower shall conduct the Loan account as per the terms and conditions governing such restructure/reschedule. Such restructuring/rescheduling of Loan by USFB shall not constitute any waiver of rights vested on USFB or obligations of the Borrower under the existing Loan. Further, despite such restructuring/rescheduling USFB shall have the right to recover the Outstandings on the existing Loan as per the covenants in the Agreement. Where electronic and/or banking applications having user interface platform are used for availing the Loan, the Borrower shall be deemed to have acknowledged and agreed that: (a) notwithstanding anything contained in the Information Technology Act, 2000 (and/or any statutory amendments thereof), the authentications, validations, affirmations and/or confirmations given by the Borrower by using his/her device or mobile number or MPIN or any other method as decided at the

Restriction of Liability. The sanction of Facility is at the sole discretion of the Bank and the Borrower shall not have any right to insist the Bank in this regard. The Bank does not undertake any obligation to finance any further credit requirements of the Borrower, whether such requirements arise on account of increase in cost of the Vehicle or otherwise. The Bank is not bound to disburse the Facility even if sanctioned, unless the Borrower conforms to the Conditions Precedent (discussed hereunder) and the terms and conditions governing the Facility. If the Borrower fails to comply with any of the terms and conditions governing the Facility, or if the Bank is of the opinion that the Borrower is not compliant of any terms and conditions governing the Facility, the Bank may cancel the Facility at its discretion, even if the Facility is disbursed in full or in part. Any increase/escalation in cost of the Vehicle shall be borne/met by the Borrower and the Bank’s liability to disburse amounts under the Facility, at any time, shall not exceed the limit/amount mentioned in the Facility Agreement. Further, the Borrower shall be solely liable to bear the costs of insuring and registering the Vehicle. The Borrower shall continue to remain at all times liable and responsible for ensuring the payment/repayment of all EPI of Outstanding Amount on or before the relevant Due Date(s) without any further notice/intimation given by the Bank, at such place/s as the Bank may specify, without any deductions whatsoever so as to enable the Bank to fully realize the amounts due on or before the respective Due Date(s). If any Due Date falls on a Public Holiday the repayment should be made on the succeeding Business Day. If the Borrower has executed any standing instruction or ACH/ECS instruction, the Bank may, at its discretion, present such instructions for encashment, in such situations, on any preceding or succeeding Business Day of the Due Date and the Borrower should maintain adequate funds in the funding account accordingly. The Bank may permit the Borrower to utilize services of any payment aggregator to make repayment. This shall be without prejudice to the right of the Bank to engage any outsourced person/entity to undertake collection activities on behalf of the Bank. If the repayment is made through any payment aggregator, such repayments will be accepted by the Bank subject to such conditions as may be stipulated by the Bank. Credit for payments by any method will be given only after realization, on the Due Date(s) occurring after such realization. The acceptance by the Bank of any payment which is less than the full EPI or the amount due as on the given date shall not constitute a waiver of the Bank’s right to receive payment in full at such time or at any subsequent time or a waiver of any other rights whatsoever of the Bank.