Common use of Terms of Loan Clause in Contracts

Terms of Loan. 1.1 Upon request of Borrower, Lender's Agent may, from time to time, in its discretion and on behalf of the Lenders, lend Securities to Borrower against the receipt of Collateral delivered by Borrower. Lender's Agent and Borrower shall agree on the terms of each Loan, including the identity and amount of the securities to be loaned, the basis of compensation, and the type and amount of Collateral to be delivered by Borrower (subject to the terms and conditions of this Agreement), which terms may be amended during the period of the Loan only by mutual agreement of the parties hereto. 1.2 Loans, all applicable terms and conditions thereof, and amendments and activity, if any, with respect thereto, shall be evidenced by Lender's Agent's records pertaining to such Loans maintained by Lender's Agent in the regular course of its business and such records shall represent conclusive evidence thereof except for manifest error or willful misconduct. Lender's Agent will send Borrower monthly statements of outstanding Loans showing Loan activity which Borrower agrees to examine promptly and to advise Lender's Agent of any error or exceptions. Borrower's failure to so advise Lender's Agent within twenty (20) days after delivery of any such statement shall be deemed to be such party's admission of the accuracy and correctness of the contents thereof and such party shall be fully bound thereby. 1.3 Notwithstanding any other provisions in this Agreement with respect to when a Loan occurs, a Loan hereunder shall not occur until the Borrowed Securities and the Collateral therefor are delivered. If, on any Business Day, Borrower delivers Collateral, as provided in Section 3.1 hereunder, and Lender's Agent does not deliver the Borrowed Securities, Borrower shall have the absolute right to the prompt return of the Collateral; and if, on any Business Day, Lender's Agent delivers Borrowed Securities and Borrower does not deliver Collateral as provided in Section 3.1 hereunder, Lender's Agent shall have the absolute right to the prompt return of the Borrowed Securities. 1.4 Lender's Agent shall maintain records in accordance with its usual practice showing the allocation among the participating Lenders of the Loans, the compensation therefor, the collateral with respect thereto and other relevant information. Lender's Agent shall implement appropriate procedures and policies to restrict lending of Securities hereunder on behalf of the respective Lenders beyond the maximum credit risk and financial exposure limits which may be set by such Lenders and Borrower.

Terms of Loan. 1.1 Upon 2.1 In consideration of the Borrower’s request to the Lender for the grant of the Loan(s), Borrower, Lender's Agent may, ’s covenant to repay the same in terms of this Agreement and the Borrower’s willingness to provide the Security/Collateral from time to time, as approved by the Lender, the Lender hereby agrees to lend as a continuing facility to the Borrower and the Borrower agrees to borrow from the Lender, the Loan(s) from time to time subject to the Loan Amount mentioned in its discretion the Schedule (and as may be amended from time to time), and on behalf such terms and conditions herein contained. 2.2 The Borrower can avail Loan(s) under the following Facilities provided by the Lender: (a) Loan against Securities Facility - Annexure 1; and/or (b) PLEQ Facility - Annexure 2 The Borrower may choose to avail the Loan/s under any or both of the Lenders, lend Securities above Facilities by executing Annexure 1 hereto or Annexure 2 hereto or both Annexure 1 and Annexure 2 prior to Borrower against the receipt of Collateral delivered by Borrower. Lender's Agent and Borrower shall agree on first disbursement in respect to the terms of each Loan, including the identity and amount respective Facilities under this Agreement. 2.3 Upon execution of the securities relevant Annexures pursuant to this Agreement, any Loan to the Borrower by the Lender shall be loaned, the basis of compensation, deemed to have been provided pursuant to this Agreement and the type and amount of Collateral to be delivered by Borrower (subject to the terms and conditions of this Agreement, the Annexures hereto, together with the Power of Attorney, and other relevant documents shall govern the terms and conditions of such Loan. 2.4 The Lender shall be entitled to reduce the Loan Amount or cancel the Facilities provided under this Agreement in its sole discretion for any reason whatsoever (including but not limited due to insufficient Drawing Power) and call the Facility Amounts from the Borrower and Guarantor (in case the Borrower is unable to pay). In the event the Borrower and the Lender intend to increase the Loan Amount under this Agreement, they shall enter into the Annexure 3 which shall mention the revised Loan Amount. The Guarantors shall be bound by such amendment whether the Guarantor has notice of the same. 2.5 The Lender shall subject to the terms of this Agreement, may grant a Loan up to the Available Loan Amount as of the date of each disbursement, at its sole discretion. a) Any Loan drawal under this Agreement shall be amended during subject to the period Borrower satisfying the conditions precedent set out in Clauses 2.6 (d) below and 5 below and any other condition precedents set out in the relevant Annexures and the Obligors not being in breach of any of the terms and conditions of this Agreement and the relevant Annexures. b) Under the Loan against Securities Facility, the Borrower shall be required to execute a separate Annexure lA, in the form acceptable to the Lender prior to each drawal. Under the PLEQ Facility there would not be a specific disbursement request requirement and such Loan/s would be disbursed in the manner set out in Annexure 2 hereto. c) It is hereby expressly agreed and understood by the Borrower, that the Lender shall not be bound or obliged to grant any Loan to the Borrower, even if such request for Loan is within the Available Loan Amount, (which decision shall be at the sole and exclusive discretion of the Lender). It is also agreed by the Parties hereto that in the event the Lender does not grant the Loan to the Borrower, the Lender shall not be required to provide any reasons therefor nor shall the Lender be liable for any damages to the Borrower by reason of the Lender refusal to grant any Loan(s) to the Borrower. d) The Lender shall grant each Loan under the Agreement up to the then Available Loan Amount subject to the compliance with all of the following in the sole discretion of the Lender: i) The Borrower’s request for Loan hereunder is duly received being the duly executed Annexure 1A (in respect of the Loan only against Securities Facility) or the procedure for disbursement has been fulfilled under Annexure 2 (in respect to the PLEQ Facility)(as the case may be); ii) The Obligors have furnished the Collateral by mutual agreement way of pledge/lien of Securities acceptable to the Lender so as to ensure that there is sufficient Drawing Power for the drawal of the parties hereto.Loan and provided/ entered into the relevant Pledge Creation Documents in respect of the same; 1.2 Loans, all applicable iii) The Obligors have not breached any of the terms and conditions thereofof this Agreement; iv) The Obligors have not defaulted to the Lender or any other person; v) The Obligors have complied with all the requirements in respect of any previous Loans; and vi) The Borrower and the Guarantor (if applicable) executing the relevant Annexure (s) in the formats acceptable to the Lender. e) The Borrower (and on the failure of the Borrower, the Guarantor) undertakes to comply with the Margin Call (s) as and when applicable, and amendments made by the Lender. f) A Loan and activityall amounts outstanding thereunder including interest, if anycosts, with respect theretofees, charges, levies, expenses and claims remaining unpaid on its Repayment Date shall be evidenced by Lender's Agent's records pertaining to such Loans maintained by Lender's Agent automatically treated as overdue under the Agreement. g) The Obligors hereby unconditionally agree that if in the regular course of its business and such records shall represent conclusive evidence thereof except for manifest error or willful misconduct. Lender's Agent will send Borrower monthly statements of outstanding Loans showing Loan activity which Borrower agrees to examine promptly and to advise Lender's Agent of any error or exceptions. Borrower's failure to so advise Lender's Agent within twenty (20) days after delivery of any such statement shall be deemed to be such party's admission opinion of the accuracy and correctness Lender there is any breach of the contents thereof and such party shall be fully bound thereby. 1.3 Notwithstanding any other provisions in this Agreement with respect to when a Loan occursterms of the Loan, a Loan hereunder shall not occur until the Borrowed Securities and the Collateral therefor are delivered. If, on any Business Day, Borrower delivers Collateral, as provided in Section 3.1 hereunder, and Lender's Agent does not deliver the Borrowed Securities, Borrower Lender shall have the absolute full right to terminate this Agreement on the prompt return ground of the Collateral; Borrower having committed an Event of Default and ifthe Lender will be entitled to demand repayment of the Loan. Notwithstanding what is contained herein, on any Business Day, Lender's Agent delivers Borrowed Securities the Lender shall also be entitled to sell/ enforce the Security under the terms of this Agreement in the event the Facility Amounts under this Agreement are due and payable by the Borrower does not deliver Collateral as provided in Section 3.1 hereunder, Lender's Agent shall have the absolute right and no further monies will be advanced to the prompt return of the Borrowed SecuritiesBorrower under this Agreement. 1.4 Lender's Agent shall maintain records in accordance with its usual practice showing the allocation among the participating Lenders of the Loans, the compensation therefor, the collateral with respect thereto and other relevant information. Lender's Agent shall implement appropriate procedures and policies to restrict lending of Securities hereunder on behalf of the respective Lenders beyond the maximum credit risk and financial exposure limits which may be set by such Lenders and Borrower.