Penal Charges definition
Penal Charges means the penal charges payable by the Borrower upon breach/non-compliance of the Material Terms and Conditions, as more particularly set out in Schedule 2 hereunder, and/or as may be notified by the Bank to the Borrower from time to time or as updated on the Bank’s website.
Penal Charges means the Penal Charges payable by the Borrower to the Lender which is specified in the Sanction Terms.
Penal Charges means charges levied by the Bank and payable by the Borrower on account of; (i) delay in repayment of EMIs,
Examples of Penal Charges in a sentence
Such Penal Charges are cumulative in nature and shall be payable ಸಾಲದಾತರಿಗೆ ಪ್ರವತ್ತಗೆ ಬ್ಲಕ್ತಯಿರುವ ಎಲಾಿ ಮತೆ ದ ಪ್ರವತ್ತಯನ್ನು ಯವಾಗಲ್ಯ ಸಾಲಗರರ ಎಸ್ಟ ೇಟ್ ಮತ್ತೆ ಸವ ತ್ತೆ ಗಳ ಪ್ರವಾಗಿ ಜಾರಿಗಳಿಸಬಹುದು ಮತ್ತೆ ಈ ಪ್ಪ ಿಂದವು ಸಾಲಗರರ ಉತೆ ರಾಧಿಕಾರಿಗಳು, ಕಾಯ್ನಿವಾ್ಹಕರು, ಕಾನೂನ್ನ ಪ್ರ ತ್ತನಿಧಿಗಳು ಮತ್ತೆ ಆಡಳಿತಗರರ ಮೆೇಲ್ ಬ್ಲಧಯ ತ್ತ ಪ್ರಿಣಾಮವನ್ನು ಹಿಂØರುತೆ ದ ಎಿಂದು ಸಾಲಗರರು ಪ್ಪಪ ತ್ತೆ ರ.
More Definitions of Penal Charges
Penal Charges means an additional charge payable by the borrower to CFL as a penalty in case of delay in payment of EMI.
Penal Charges means the percentage and/or amount/quantum of charges which are payable by the Borrower for breach/ non -compliance of the Material terms and conditions agreed to by the Borrower under this Agreement.
Penal Charges means an additional charge payable by the Borrower(s) to the Bank in case of breach of any Material Terms.
Penal Charges means the penal charges payable by the Borrower upon breach of the Material Terms and Conditions, as more particularly set out in Schedule /Key Fact Statement, and as may be notified by the Bank to the Borrower from time to time or as updated on the Bank’s website. “Prepayment or Foreclosure” means the repayment of the entire Loan even before the maturity or otherwise than in accordance with the Key Fact Statement as per the terms and conditions contained herein and Personal Loan Agreement for such prepayment/foreclosure together with such charges as may be prescribed by the Bank from time to time. “Prepayment Charges” means charges levied by Bank for prepayment as specified in the Key Fact Statement of the Personal Loan Agreement. “Purpose of Personal Loan” means that the Personal Loan has been availed by the Borrower for the purpose as stated disclosed by the Borrower to the Bank. “Repayment” means repayment of the Principal amount of the Loan and interest thereon, including charges, premium, fees or other dues payable in terms of the Agreement to the Bank, and in particular includes amortization of such payment provided for in the Agreement. Explanation: Any repayment / payment of EMI shall be given effect to only when such payment has been realized and the proceeds have been credited to the Bank’s account. The burden of proving such credit lies always with the Borrower(s). “Sanction Letter” means a letter issued by the Bank conveying the sanctioning of the Loan facility to the Borrower(s) and shall be read in terms of and in conjunction with the Agreement . “SMA” Special Mention Accounts as defined by Reserve Bank of India from time to time as an account which are stress accounts wherein the borrower has defaulted towards the Bank his/her timely servicing of debt obligations SMA accounts are categorized as follows: SMA NF, SMA 0, SMA 1 and SMA 2, the Special mention accounts are categorized in terms of overdue period. “Tax” means and includes all taxes payable by the Borrower or payable by the Bank on behalf of the Borrower to the Central or State Government including but not limited to Goods and Service Tax (GST), Value Added Tax, Sales Tax, Service Tax, Road Tax, Green Tax, Income Tax etc. The expressions and meaning contained in “The General Clauses Act, 1897”, shall apply wherever the terms and expressions are not specifically defined herein for the purpose of interpretation and /or for giving effect to All terms used in singular shall unless the c...
Penal Charges means the Interest payable in the event of default in repaying the dues due and payable to the banks particularly set out in Clause 2.2(f) and 5.3(b) and Schedule D hereto.
Penal Charges means any charges which will be levied on breach of terms or conditions of loan agreement..
Penal Charges means the penal charges payable by the Borrower upon breach/non-compliance of the Material Terms and Conditions, as more particularly set out in Finance Documents, and/or as may be notified by the Bank to the Borrower from time to time or as updated on the Bank’s website.