Common use of RIGHT OF RECESSION Clause in Contracts

RIGHT OF RECESSION. The Borrower(s) shall be given upto 3 working days to cancel the disbursement and return the amount already disbursed. The Borrower(s) agrees to pay interest on the amount disbursed at the rate mentioned in the Schedule and it shall be at the sole discretion of the Bank to partially/fully waive the amount of interest charged for the 3 days.

Appears in 4 contracts

Samples: Facility Agreement, Facility Agreement, Agreement

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