Common use of Utilisation of Loan Clause in Contracts

Utilisation of Loan. The Borrower shall utilise the entire Loan for the purchase/construction of the property as indicated by him in his Loan application and for no other purpose whatsoever. The Borrower confirms that loan is not only given by AUSFB in respect of properties meant for residential use but also towards the commercial purposes and declares so while applying for Loan.

Utilisation of Loan. The Borrower shall utilise the entire Loan for the purchase/purchase/ construction of the property as indicated by him in his Loan application and for no other purpose whatsoever. The Borrower confirms confirms that loan is not only given by AUSFB the Bank in respect of properties meant for residential use but also towards which the Borrower intends to use for commercial purposes and declares so while applying for Loan.

Utilisation of Loan. The Borrower shall utilise the entire Loan for the purchase/purchase/ construction of the property as indicated by him in his Loan application and for no other purpose whatsoever. The Borrower confirms that loan is not only given by AUSFB the Bank in respect of properties meant for residential use but also towards which the Borrower intends to use for commercial purposes and declares so while applying for Loan.