Common use of Consequences of Default Clause in Contracts

Consequences of Default. If an Event of Default shall occur: (a) All of the indebtedness secured hereby shall become and be immediately due and payable at the option of the Mortgagee, without notice or demand, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee shall be entitled to bid and purchase the Property and shall be entitled to apply the debt secured hereby, or any portion thereof, in payment for the Property. (b) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled to the appointment of a receiver to enter upon and take and maintain full control of the Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited to, the execution, cancellation or modification of leases, the making of repairs to the Property and the execution or termination of contracts providing for the management or maintenance of the Property, all on such terms as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled to a reasonable fee for so managing the Property. All rents collected pursuant to this paragraph shall be applied first to the costs of taking control and managing the Property and collecting the rents, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the Property, premiums on insurance policies, taxes, assessments and other charges on the Property, and the costs of discharging any liability or obligation of Mortgagor as lessor or landlord of the Property and then to the sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the Property and shall be liable to account only for those rents actually received. Mortgagee shall not be liable to Mortgagor, anyone claiming under or through Mortgagor, or anyone having an interest in the Property by reason of anything done or left undone by Mortgagee under this paragraph. If the rents of the Property are not sufficient to meet the costs of taking control of and managing the Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the highest rate set forth in any promissory note secured by this Mortgage. The entering upon and taking and maintaining of control of the Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder. (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the Personal Property, and for that purpose the Mortgagee may: (i) so far as the Mortgagor can give authority therefor, enter upon any premises on which the Personal Property may be situated and remove the same therefrom; (ii) take possession or control of the Personal Property and the premises on which it is located; (iii) require the Mortgagor to assemble all or any part of the Personal Property or records concerning the Personal Property and make such available to the Mortgagee at a place to be designated by the Mortgagee which is reasonably convenient to both parties; (iv) sell or otherwise dispose of all or any part of the inventory on any premises where then located without being liable to the Mortgagor on account of any loss, damage or depreciation that may occur as a result thereof so long as the Mortgagee shall act in a commercially reasonable manner; (v) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which the Mortgagor now has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion and the like; and (vi) lease or license third persons or entities for such purpose. Unless the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Mortgagee shall give to the Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agrees is "reasonable notification" within the meaning of Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Personal Property is to be made.

Consequences of Default. i. Notwithstanding anything contained in this agreement, upon the occurrence of anyone or more of event(s) of default under this Agreement the Developer may, at its sole discretion, issue 30 days written notice calling upon the Allottee(s) to rectify the default(s). If an Event of Default the default is not rectified within the notice period, this Agreement shall occur: (a) All of the indebtedness secured hereby shall become and be immediately due and payable at the option of the Mortgagee, stand automatically cancelled without any further notice or demand, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee Developer shall be entitled to bid forfeit the ▇▇▇▇▇▇▇ Money as specified in clause 2 hereinabove along with the interest on delayed payments, paid, due or payable, any other amount of a non- refundable nature. The Allottee(s) agrees that upon such cancellation the Developer shall be released and purchase discharged of all liabilities and obligations under this Agreement and the Property Allottee(s) shall have no right, title or interest in the said Unit in any manner whatsoever. Thereafter, the Developer shall be at liberty to sell/transfer the said Unit in any manner whatsoever and appropriate the proceeds of such sale as if this Agreement had never been executed and without accounting to the Allottee(s) for any of the proceeds of such sale. ii. For the removal of doubts, it is clarified that notwithstanding the fact that either the refund cheque has not been dispatched by the Developer, or if dispatched, it has not been received by the Allottee(s) or if received, such refund cheque remains uncashed by the Allottee(s), the mere dispatch of the notice of termination/ Cancellation of Allotment by the Developer would be deemed to be sufficient and by itself constitute termination of this Agreement and cancellation of the allotment and no further act on the part of the Developer would be necessary for this purpose. iii. The Allottee(s) understands, agrees and consents that upon such termination / Cancellation of Allotment, the Developer shall be under no obligation, save and except to refund the amounts already paid by the Allottee(s) to the Developer, without any interest, and after forfeiting and deducting the ▇▇▇▇▇▇▇ Money and other amounts due and payable to it only after resale of the said Unit. Upon termination of this Agreement by the Developer, the Allottee(s) shall have no further right or claim, which if any, against the Developer shall be deemed to have been waived and the Allottee(s) hereby expressly consents thereto. The Developer shall thenceforth be free to deal with the said Unit in any manner whatsoever, in its sole and absolute discretion and in the event that the Allottee(s) has taken possession of the said Unit, then the Developer shall also be entitled to apply re-enter and resume possession of the debt secured herebysaid Unit and everything whatsoever contained therein and in such event, or the Allottee(s) and/or any portion thereofother person / occupant of the said Unit shall immediately vacate the said Unit and otherwise be liable to immediate ejectment as an unlawful occupant / trespasser. iv. The Developer shall also be entitled to and hereby reserves its right to cancel/terminate this Agreement in the manner described above, in payment for case in the Property. opinion of the Developer, (a) the allotment of the said Unit has been obtained through misrepresentation and concealment or suppression of any material fact, OR (b) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, Allottee(s) has violated or institutes foreclosure proceedings, Mortgagee shall be entitled to the appointment of a receiver to enter upon and take and maintain full control violates any of the Property in order to perform all acts necessary directions, rules and appropriate for regulations framed by the operation and maintenance thereof including, but not limited to, Developer or the execution, cancellation Maintenance Agreement or modification of leases, the making of repairs to the Property and the execution by any statutory body or termination of contracts providing for the management or maintenance of the Property, all on such terms as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled to a reasonable fee for so managing the Property. All rents collected pursuant to this paragraph shall be applied first to the costs of taking control and managing the Property and collecting the rentsCompetent Authority, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs Government of repair to the Property, premiums on insurance policies, taxes, assessments and other charges on the Property, and the costs of discharging any liability or obligation of Mortgagor as lessor or landlord of the Property and then to the sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the Property and shall be liable to account only for those rents actually received. Mortgagee shall not be liable to Mortgagor, anyone claiming under or through Mortgagor, or anyone having an interest in the Property by reason of anything done or left undone by Mortgagee under this paragraph. If the rents of the Property are not sufficient to meet the costs of taking control of and managing the Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the highest rate set forth in any promissory note secured by this Mortgage. The entering upon and taking and maintaining of control of the Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunderMadhya Pradesh. (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the Personal Property, and for that purpose the Mortgagee may: (i) so far as the Mortgagor can give authority therefor, enter upon any premises on which the Personal Property may be situated and remove the same therefrom; (ii) take possession or control of the Personal Property and the premises on which it is located; (iii) require the Mortgagor to assemble all or any part of the Personal Property or records concerning the Personal Property and make such available to the Mortgagee at a place to be designated by the Mortgagee which is reasonably convenient to both parties; (iv) sell or otherwise dispose of all or any part of the inventory on any premises where then located without being liable to the Mortgagor on account of any loss, damage or depreciation that may occur as a result thereof so long as the Mortgagee shall act in a commercially reasonable manner; (v) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which the Mortgagor now has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion and the like; and (vi) lease or license third persons or entities for such purpose. Unless the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Mortgagee shall give to the Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agrees is "reasonable notification" within the meaning of Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Personal Property is to be made.

Consequences of Default. If an Event Upon Occurrence of Default any of the events of default, the Borrower and the Guarantor shall occur:be obliged to update the account together with bank charges, cheque bounce charges, overdue interest at the rate specified in Schedule 2 of this Agreement. The Lender may at any time thereafter, (a) All Issue a notice to the Borrower giving him a minimum of seven days time to update the dues pending as on that date. b) In case of the indebtedness secured hereby shall become and be immediately due and payable at Borrower alienating or secreting or keeping the option Asset beyond the reach of the MortgageeLender, without notice or demandthe Borrower using the Asset for unlawful purposes or the Borrower subjecting the Asset to abnormal wear and tear and / or alienating such other Assets of the Borrower which provide additional cover to the Lender for recovery of the amount due under the Agreement, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee Lender shall be entitled to bid take such steps including seizure of the hypothecated Asset and purchase invoking of the Property and shall be entitled Guarantee without any notice to apply the debt secured hereby, or any portion thereof, in payment for the PropertyBorrower. (bc) Irrespective On expiry of whether Mortgagee accelerates the maturity notice period, if the dues are not paid as demanded therein, then the Lender may at its sole discretion either by itself or acting through its agent or receiver, enter upon the premises where such Vehicle is located and take possession / seizure of the Vehicle and remove the same, all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled without any liability to the appointment of a receiver Lender or its agent, for such entry or damage to the property or otherwise. For this purpose the Borrower hereby expressly grants irrevocable authority to the Lender to enter upon the premises and take and maintain full control of the Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited to, the execution, cancellation or modification of leases, the making of repairs to the Property and the execution or termination of contracts providing for the management or maintenance of the Property, all on such terms as are deemed appropriate to protect the security of exercise its rights under this Mortgageclause. The receiver shall Lender will be entitled well within his rights to a reasonable fee for so managing use tow-van or any carrier to carry away the PropertyAsset. All rents collected pursuant to this paragraph shall be applied first to the costs of taking control and managing the Property and collecting the rents, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the Property, premiums on insurance policies, taxes, assessments and other charges on the Property, and the costs of discharging any liability or obligation of Mortgagor as lessor or landlord of the Property and then to the sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the Property and The Borrower shall be liable to account only for those rents actually received. Mortgagee shall not be liable to Mortgagor, anyone claiming under or through Mortgagor, or anyone having an interest in the Property by reason of anything done or left undone by Mortgagee under this paragraph. If the rents of the Property are not sufficient to meet the costs of taking control of pay any towing charges and managing the Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the highest rate set forth in any promissory note secured by this Mortgage. The entering upon and taking and maintaining of control of the Property other expenses incurred by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder. (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the Personal Property, and for that purpose the Mortgagee may: (i) so far as the Mortgagor can give authority therefor, enter upon any premises on which the Personal Property may be situated and remove the same therefrom; (ii) take possession or control of the Personal Property and the premises on which it is located; (iii) require the Mortgagor to assemble all or any part of the Personal Property or records concerning the Personal Property and make such available to the Mortgagee at a place to be designated by the Mortgagee which is reasonably convenient to both parties; (iv) sell or otherwise dispose of all or any part of the inventory on any premises where then located without being liable to the Mortgagor on account of any loss, damage or depreciation that may occur as a result thereof so long as the Mortgagee shall act in a commercially reasonable manner; (v) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which the Mortgagor now has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill Lender in connection with the seizure of the Asset and for its sale etc. d) On taking possession of goods the Vehicle, the Lender shall terminate the Agreement and call upon the Borrower to pay the entire amount due under the Agreement including the future dues together with liquidated damages as may be determined by the Lender. A minimum notice period of seven days shall be provided to the Borrower to settle the account, on taking possession of the vehicle. e) If the Borrower and / or the rendering Guarantors do not settle the account within the time so provided by the Lender, the Lender may proceed to sell the vehicle in “as is where is” condition, by Public Auction either on Web sites or through third parties by private sale or by displaying the details of services, vehicles offered for sale on the notice Board in the conduct branch office of servicethe Lender or in any manner as deemed appropriate by the Lender. However, advertisingif the Borrower settles the account within the notice period, promotion and then the like; and (vi) lease or license third persons or entities for such purpose. Unless Lender shall redeliver the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Mortgagee shall give Vehicle to the Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agrees is "reasonable notification" within the meaning of Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Personal Property is to be madeBorrower.

Consequences of Default. If Upon the occurrence of an Event of Default Default, and at any time thereafter, if such event shall occurbe continuing, without prejudice to any other rights and remedies available under law or in equity or under this Agreement, Lender may: (a) All of Recall the indebtedness secured hereby shall become and be immediately due and payable at the option of the Mortgagee, without notice or demand, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee shall be entitled to bid and purchase the Property and shall be entitled to apply the debt secured hereby, or any portion thereof, in payment for the Property. (b) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled to the appointment of a receiver to enter upon and take and maintain full control of the Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited to, the execution, cancellation or modification of leases, the making of repairs to the Property and the execution or termination of contracts providing for the management or maintenance of the Property, all on such terms as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled to a reasonable fee for so managing the Property. All rents collected pursuant to this paragraph shall be applied first to the costs of taking control and managing the Property and collecting the rentsentire loan, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the Property, premiums on insurance policies, taxes, assessments and other charges on the PropertyBorrower’s Dues, and the costs same shall forthwith be payable by the Borrower(s) to the Lender, without any further notice to pay to the Borrower(s). In the event of discharging failure of such payment, the Borrower shall surrender to the Lender and/or its representatives, the Vehicle(s) financed by the Lender or any liability or obligation other product of Mortgagor value equal to the amount payable and as lessor or landlord approved by the Lender. Lender shall be entitled to dispose of the Property Vehicle(s) and then to any other product and adjust the sums secured by this Mortgageproceeds against Borrower’s Dues. Mortgagee and In case of any deficit (loss on sale), the receiver shall have access to the books and records used in the operation and maintenance of the Property and same shall be liable to account only for those rents actually received. Mortgagee shall not be liable to Mortgagor, anyone claiming under or through Mortgagor, or anyone having an interest in the Property by reason of anything done or left undone by Mortgagee under this paragraph. If the rents of the Property are not sufficient to meet the costs of taking control of and managing the Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the highest rate set forth in any promissory note secured by this Mortgage. The entering upon and taking and maintaining of control of the Property made paid by the Mortgagee or Borrower(s) and/or Guarantor(s). (b) Present and encash any PM/PDC issued by the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunderBorrower(s). (c) The Mortgagee shallInitiate legal proceedings as per the prevailing laws of the land including Sec 138 of Negotiable Instrument Act and Sec 25 of the Payment and Settlement Systems Act, in addition to all other rights and remedies, have the rights and remedies of a secured party under the Uniform Commercial Code, including without limitation, the right to take 2007 etc. (d) Take physical possession of the Personal PropertyVehicle(s) within 3 days of occurrence of Event of Default and dispose off the same to recover ▇▇▇▇▇▇▇▇’s Dues. (e) Appropriate the proceeds of sale of the Vehicle(s) firstly towards satisfaction of all costs, charges, Penal and for that purpose Default charges incurred in respect of the Mortgagee may: loan, secondly towards payment of the balance of the interest and other sums payable by the Borrower(s) to the Lender and then towards the outstanding principal amount of the sanctioned loan or in any other sequence at its sole discretion. (if) so far Take possession of the Vehicle(s) without prejudice to any other remedy available with the Lender at any time, irrespective of whether the loan has been recalled if in the opinion of the Lender there is an apprehension of the Borrower(s) not paying any money due under this Agreement or ▇▇▇▇▇▇'s security being jeopardized. Disclose the information of any default by the Borrower(s) to CIBIL or such other credit agency, as deemed fit by the Lender. (g) Disclose, publish or give such particulars of the Borrower’s name or the name of its company/unit/ firm and or its directors/shareholders/ partners/ proprietors as defaulters in such manner, as the Mortgagor can give authority thereforLender or RBI in their absolute discretion, enter upon deems fit. (h) ▇▇▇▇▇▇▇▇(s) shall indemnify the Lender against any premises on which claim by any third party with respect to the Personal Property may be situated and remove the same therefrom; (iiVehicle(s) take possession or control of the Personal Property and the premises on which it is located; (iii) require the Mortgagor to assemble all or any part articles or property so disposed of the Personal Property or records concerning the Personal Property and make as aforesaid in which such available to the Mortgagee at a place to be designated by the Mortgagee which is reasonably convenient to both parties; (iv) sell or otherwise dispose of all or any part of the inventory on any premises where then located without being liable to the Mortgagor on account of any loss, damage or depreciation that may occur as a result thereof so long as the Mortgagee shall act in a commercially reasonable manner; (v) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which the Mortgagor now third party has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion and the like; and (vi) lease or license third persons or entities for such purpose. Unless the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Mortgagee shall give to the Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agrees is "reasonable notification" within the meaning of Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Personal Property is to be madeclaims an interest.

Consequences of Default. If an Event a default occurs, Lessor is entitled, at Lessor's sole option, to exercise any one or more of Default shall occurthe following remedies: (ai) All Lessor may terminate this Agreement and immediately expel Lessee from the Premises. However, such action shall not be deemed to waive Lessor's right to collect all rent due for the period up to the time Lessor regains possession of the indebtedness secured Premises, together with liquidated damages (not as a penalty) in the amount of three (3) months rent, calculated at the rate payable under this Agreement at the time of default. Lessee hereby assents to the foregoing and expressly waives all legal notice to vacate the Premises, including, without limitation, any notice requirements contained in the Louisiana Code of Civil Procedure. (ii) Lessor may accelerate the rent and declare all unpaid installments of rent for the Base Term or the then current Renewal Term, as the case may be, at once due and owing, in which event all such unpaid amounts shall become and be immediately payable. Additionally, all other sums due hereunder become payable as and payable at when Lessor ascertains the option amount thereof with reasonable certainty. (iii) Lessor may, in the event Lessee abandons the Premises, reenter and retake possession of the Mortgagee, Premises without notice or demand, which are hereby expressly waivedlegal proceedings as agent for Lessee, and may relet the Mortgagee Premises on such terms and conditions as Lessor may proceed determine in its sole discretion, all without incurring any liability to foreclose Lessee and without being deemed to have terminated this Mortgage Agreement, evicted Lessee, or relieved Lessee of any of its obligations under this Agreement. Lessor shall in no way be responsible or liable for any failure, nor shall Lessor have any obligation, to relet the Premises. Lessor expressly reserves the right to collect and sell the Property or otherwise pursue any right or remedy herein or by law providedreceive all rents arising from such reletting. At the foreclosure, Mortgagee shall Lessee will be entitled to bid and purchase credit for such rents actually received by Lessor against the Property and shall be entitled to rent payable hereunder, which credit will apply after Lessor has deducted from such rents: 1) all expenses Lessor may incur in reentering the debt secured herebyPremises, or any portion thereof, putting the Premises in payment for the Property. (b) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled to the appointment of a receiver to enter upon and take and maintain full control of the Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited to, the execution, cancellation or modification of leases, the making of repairs to the Property and the execution or termination of contracts providing for the management or maintenance of the Property, all on such terms as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled to a reasonable fee for so managing the Property. All rents collected pursuant to this paragraph shall be applied first to the costs of taking control and managing the Property and collecting the rents, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the Property, premiums on insurance policies, taxes, assessments and other charges on the Propertyproper repair, and protecting and preserving the costs Premises; and 2) all expenses of discharging any liability or obligation of Mortgagor as lessor or landlord of reletting the Property and then to the sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the Property and shall be liable to account only for those rents actually received. Mortgagee shall not be liable to Mortgagor, anyone claiming under or through Mortgagor, or anyone having an interest in the Property by reason of anything done or left undone by Mortgagee under this paragraph. If the rents of the Property are not sufficient to meet the costs of taking control of and managing the Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the highest rate set forth in any promissory note secured by this Mortgage. The entering upon and taking and maintaining of control of the Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder. (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a secured party under the Uniform Commercial CodePremises, including without limitation, the right attorneys' fees and expenses, brokerage, leasing, and management commissions, and all other reasonable expenses that Lessor may incur in connection with such reletting. No such reletting shall be construed as an election by Lessor to take possession terminate this Agreement unless a notice of such intention to terminate is given to Lessee by Lessor. No such reletting without termination shall preclude Lessor from thereafter terminating this Agreement for Lessee's abandonment of the Personal Property, and for that purpose the Mortgagee may: (i) so far as the Mortgagor can give authority therefor, enter upon any premises on which the Personal Property may be situated and remove the same therefrom; (ii) take possession or control of the Personal Property and the premises on which it is located; (iii) require the Mortgagor to assemble all or any part of the Personal Property or records concerning the Personal Property and make such available to the Mortgagee at a place to be designated by the Mortgagee which is reasonably convenient to both parties; Premises. (iv) sell or otherwise dispose of all or any part of the inventory on any premises where then located without being liable to the Mortgagor on account of any loss, damage or depreciation that Lessor may occur as a result thereof so long as the Mortgagee shall act in a commercially reasonable manner; (v) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which the Mortgagor now has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion and the like; and (vi) lease or license third persons or entities for such purpose. Unless the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Mortgagee shall give to the Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agrees is "reasonable notification" within the meaning of Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or exercise any other intended disposition remedy or method of the Personal Property is redress accorded to be madeit under Louisiana law.

Consequences of Default. If an Event of Default shall occur: (a) All of the indebtedness secured hereby shall become and be immediately due and payable at the option of the Mortgagee, without notice or demand, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Mortgaged Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee shall be entitled to bid and purchase the Mortgaged Property and shall be entitled to apply the debt secured hereby, or any portion thereof, in payment for the Mortgaged Property. (b) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled to the appointment of a receiver to enter upon and take and maintain full control of the Mortgaged Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited to, the execution, cancellation or modification of leases, the making of repairs to the Mortgaged Property and the execution or termination of contracts providing for the management or maintenance of the Mortgaged Property, all on such terms as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled to a reasonable fee for so managing the Mortgaged Property. All rents collected pursuant to this paragraph shall be applied first to the costs of taking control and managing the Mortgaged Property and collecting the rents, including but not limited to reasonable attorneys' ’ fees, receiver's ’s fees, premiums on receiver's ’s bonds, costs of repair to the Mortgaged Property, premiums on insurance policies, taxes, assessments and other charges on the Mortgaged Property, and the costs of discharging any liability or obligation of Mortgagor as lessor or landlord Landlord of the Mortgaged Property and then to the sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the Mortgaged Property and shall be liable to account only for those rents actually received. Mortgagee shall not be liable to Mortgagor, anyone claiming under or through Mortgagor, or anyone having an interest in the Mortgaged Property by reason of anything done or left undone by Mortgagee under this paragraph. If the rents of the Mortgaged Property are not sufficient to meet the costs of taking control of and managing the Mortgaged Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the highest rate set forth provided in any promissory note secured by this Mortgagethe Note. The entering upon and taking and maintaining of control of the Mortgaged Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder. (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the Personal Additional Property, and for that purpose the Mortgagee may: (i) so far as the Mortgagor can give authority therefor, enter upon any premises on which the Personal Additional Property may be situated and remove the same therefrom; (ii) take possession or control of the Personal Additional Property and the premises on which it is located; (iii) require the Mortgagor to assemble all or any part of the Personal Additional Property or records concerning the Personal Additional Property and make such available to the Mortgagee at a place to be designated by the Mortgagee which is reasonably convenient to both parties; (iv) sell or otherwise dispose of all or any part of the inventory on any premises where then located without being liable to the Mortgagor on account of any loss, damage or depreciation that may occur as a result thereof so long as the Mortgagee shall act in a commercially reasonable manner; (v) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which the Mortgagor now has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion and the like; and (vi) lease or license third persons or entities for such purpose. Unless the Personal Additional Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Mortgagee shall give to the Mortgagor at least thirty (30) days' ’ prior written notice (which Mortgagor agrees agree is "“reasonable notification" ” within the meaning of Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Personal Additional Property is to be made.

Consequences of Default. If an Event the Borrower/s fails to perform any of Default shall occur: (a) All his obligations under this Agreement or in case of occurrence of any of the indebtedness secured Events of Default, as mentioned under this Agreement, arise (whether demand for repayment is actually made or not) then and in any such case and at any time thereafter, the Borrower/s hereby shall become and be immediately due and payable at irrevocably authorizes the option Lender through its officers, agents, attorneys or nominees (without prejudice to any other rights under this Agreement) to take charge and/or possession of, recover, receive and/or remove from the possession of the MortgageeBorrower/s the hypothecated Vehicle(s)/Asset(s) together with all articles and goods or appurtenances which may happen to be in or upon the Vehicle(s)/Asset(s) in accordance with the procedure mention in Appendix A. The Borrower shall be bound to deliver the Vehicle(s)/Asset(s) forthwith to the Lender in same condition it was received, without notice or demandreasonable wear and tear excepted, along with all the modification/accretions/accessories. Failure by the Borrower to do so shall be constituted as unlawful retention for which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee Lender shall be entitled to bid and purchase initiate criminal action, without any prejudice to any other rights it may have under any law for the Property and time being in force. The Lender shall repossess the Asset in accordance with the procedure mentioned in Appendix A. Post repossession of the Vehicle(s)/Asset(s) in the aforesaid manner, the Lender shall be entitled to apply the debt secured hereby, pursue any one or any portion thereof, in payment for the Property. (b) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled to the appointment of a receiver to enter upon and take and maintain full control more of the Property in order following actions, without prejudice to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited to, the execution, cancellation one another through intervention by a Court or modification of leases, the making of repairs to the Property and the execution or termination of contracts providing for the management or maintenance of the Property, all on such terms as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled to a reasonable fee for so managing the Property. All rents collected pursuant to this paragraph shall be applied first to the costs of taking control and managing the Property and collecting the rents, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the Property, premiums on insurance policies, taxes, assessments and other charges on the Property, and the costs of discharging without obtaining any liability or obligation of Mortgagor as lessor or landlord of the Property and then to the sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the Property and shall be liable to account only for those rents actually received. Mortgagee shall not be liable to Mortgagor, anyone claiming under or through Mortgagor, or anyone having an interest in the Property by reason of anything done or left undone by Mortgagee under this paragraph. If the rents of the Property are not sufficient to meet the costs of taking control of and managing the Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the highest rate set forth in any promissory note secured by this Mortgage. The entering upon and taking and maintaining of control of the Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder.prior Court order (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the Personal Property, and for that purpose the Mortgagee may: (i) so far as the Mortgagor can give authority therefor, enter upon any premises on which the Personal Property may be situated and remove the same therefrom; (ii) take possession or control Facilitation of disposal of the Personal Property hypothecated asset/vehicle by the lender for and the premises on which it is located; (iii) require the Mortgagor to assemble all or any part behalf of the Personal Property or records concerning the Personal Property and make such available to the Mortgagee at a place to be designated by the Mortgagee which is reasonably convenient to both parties; (iv) sell or otherwise dispose of all or any part borrower/co borrower acting as constituted attorney of the inventory on any premises where then located without being liable to the Mortgagor on account of any loss, damage or depreciation that may occur as a result thereof so long as the Mortgagee shall act in a commercially reasonable manner; (v) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which the Mortgagor now has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion and the like; and (vi) lease or license third persons or entities for such purpose. Unless the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Mortgagee shall give to the Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agrees is "reasonable notification" within the meaning of Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Personal Property is to be made.Borrower/s:

Consequences of Default. If an Event Upon Occurrence of Default any of the events of default, the Borrower and the Guarantor shall occur:be obliged to update the account together with bank charges, cheque bounce charges, overdue interest at the rate specified in Schedule 2 of this Agreement. The Lender may at any time thereafter, (a) All Issue a notice to the Borrower giving him a minimum of seven days time to update the dues pending as on that date. b) In case of the indebtedness secured hereby shall become and be immediately due and payable at Borrower alienating or secreting or keeping the option Asset beyond the reach of the MortgageeLender, without notice or demandthe Borrower using the Asset for unlawful purposes or the Borrower subjecting the Asset to abnormal wear and tear and / or alienating such other Assets of the Borrower which provide additional cover to the Lender for recovery of the amount due under the Agreement, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee Lender shall be entitled to bid take such steps including seizure of the hypothecated Asset and purchase invoking of the Property Guarantee without any notice to the Borrower. c) On expiry of the notice period, if the dues are not paid as demanded therein, then the Lender may at its sole discretion either by itself or acting through its agent or receiver, enter upon the premises where such Vehicle is located and take possession / seizure of the Vehicle and remove the same, all without any liability to the Lender or its agent, for such entry or damage to the property or otherwise. For this purpose the Borrower hereby expressly grants irrevocable authority to the Lender to enter upon the premises and exercise its rights under this clause. The Lender will be well within his rights to use tow-van or any carrier to carry away the Asset. The Borrower shall be liable to pay any towing charges and any other expenses incurred by the Lender in connection with the seizure of the Asset and for its sale etc. d) On taking possession of the Vehicle, the Lender shall terminate the Agreement and call upon the Borrower to pay the entire amount due under the Agreement including the future dues together with liquidated damages as may be determined by the Lender. A minimum notice period of seven days shall be provided to the Borrower to settle the account, on taking possession of the vehicle. e) If the Borrower and / or the Guarantors do not settle the account within the time so provided by the Lender, the Lender may proceed to sell the vehicle in “as is where is” condition, by Public Auction either on Web sites or through third parties by private sale or by displaying the details of vehicles offered for sale on the notice Board in the branch office of the Lender or in any manner as deemed appropriate by the Lender. However, if the Borrower settles the account within the notice period, then the Lender shall redeliver the Vehicle to the Borrower. f) On sale of the Vehicle, if there is any shortfall in the account then the Lender shall issue a notice to the Borrower calling on him to pay the shortfall amount, and the Borrower is liable to pay the same within seven days from the date of notice together with interest (at the rate as specified in schedule 2) till date of payment. On the contrary if there is any surplus on sale of the vehicle then the Lender shall refund such surplus amount to the Borrower. g) The Lender shall be entitled to apply recover from the debt secured herebyBorrower and the Guarantor/s all expenses (including legal costs on full indemnity basis) incurred by or on behalf of the Lender in ascertaining the whereabouts of the Asset, taking possession, garaging, insuring, transporting and selling the Asset and of any legal proceedings that may be filed by or on behalf of the Lender to enforce the provisions of the Agreement. It is expressly clarified that the remedies referred to hereinabove shall be in addition to and without prejudice to any other remedy available to the Lender either under this Agreement, or under any portion thereofother Agreement / undertaking, or in payment for the Propertylaw or equity. (bh) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled Notwithstanding anything to the appointment of a receiver to enter upon and take and maintain full control of contrary contained in the Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited toIndian Contract Act, the executionLender or its officers, cancellation agents or modification of leases, the making of repairs to the Property and the execution or termination of contracts providing for the management or maintenance of the Property, all on such terms as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled to a reasonable fee for so managing the Property. All rents collected pursuant to this paragraph shall be applied first to the costs of taking control and managing the Property and collecting the rents, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the Property, premiums on insurance policies, taxes, assessments and other charges on the Property, and the costs of discharging any liability or obligation of Mortgagor as lessor or landlord of the Property and then to the sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the Property and shall be liable to account only for those rents actually received. Mortgagee nominees shall not be liable to Mortgagorin any way responsible for any loss, anyone claiming under or through Mortgagordamage, limitation, or anyone having an interest depreciation that the hypothecated Asset may suffer or sustain on any account whatsoever whilst the same is in the Property by reason of anything done or left undone by Mortgagee under this paragraph. If the rents of the Property are not sufficient to meet the costs of taking control of and managing the Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the highest rate set forth in any promissory note secured by this Mortgage. The entering upon and taking and maintaining of control of the Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder. (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the Personal PropertyLender or its officers, and for that purpose the Mortgagee may: (i) so far as the Mortgagor can give authority therefor, enter upon any premises on which the Personal Property may be situated and remove the same therefrom; (ii) take possession agents or control nominees or because of exercise or non-exercise of the Personal Property and the premises on which it is located; (iii) require the Mortgagor to assemble all rights, powers, or any part of the Personal Property or records concerning the Personal Property and make such remedies available to the Mortgagee at a place to be designated by the Mortgagee which is reasonably convenient to both parties; (iv) sell Lender or otherwise dispose of its officers, agents or nominees and all or any part of the inventory on any premises where then located without being liable to the Mortgagor on account of any such loss, damage or depreciation shall be debited to the account of the Borrower and the Guarantor/s, howsoever the same may have been caused. i) Notwithstanding any other rights available to the Lender under this Agreement, the Lender shall be entitled to initiate any other appropriate actions against the Borrower and /or the Guarantor(s) if at any time the Lender at its sole discretion has sufficient grounds to believe that may occur the Borrower and /or the Guarantor(s) has / have made any misrepresentations and / or submitted any forged documents or fabricated data to the Lender. j) Declare the accounts as a result thereof so long SMA or NPA, as the Mortgagee shall act in case may be. An illustration as to when a commercially reasonable manner; (v) use all trademarksloan will be treated as a SMA or NPA is given below. Illustration - SMA/NPA Clasification SMA sub categories for loans Basisforclasificationwheretheamount iswhollyorpartlyoverdue SMA - 0 Upto 30 days SMA - 1 More than 30 days upto 60 days SMA - 2 More than 60 days upto 90 days In the above context, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which it is clarified that the Mortgagor now has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion and the like; and (vi) lease or license third persons or entities for such purpose. Unless the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Mortgagee shall give to the Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agrees is "reasonable notification" within the meaning of Section 9-504 borrower account will be classified as overdue as part of the Uniform Commercial Code of day-end process for the State of South Carolina) due date, irrespective of the time and place of any public sale or any other intended disposition running of such process. Similarly the classification of NPA shall be done where the amount is due for more than 90 days as the end of the Personal Property is to be made.day end process for the relevant date. For SHRIRAM CITY UNION FINANCE LIMITED

Consequences of Default. If an Event The Tenant shall indemnify the Landlord against all loss of Default shall occur: (a) All rent and other payments which the Landlord may incur by reason of such termination during the residue of the indebtedness secured hereby Term. If the Tenant shall become default, after applicable notice thereof, in the observance or performance of any conditions or covenants on Tenant's part to be observed or performed under or by virtue of any of the provisions in any provision of this Lease, the Landlord, without being under any obligation to do so and without thereby waiving such default, may remedy such default for the account and at the expense of the Tenant. If the Landlord makes any expenditures or incurs any obligations for the payment of money in connection therewith, including but not limited to, reasonable attorney's fees, shall be paid to the Landlord by the Tenant as Additional Rent. Tenant further covenants and agrees, notwithstanding any entry or re-entry by Landlord or the termination of this Lease, whether by summary proceedings or otherwise, that all Rent and other charges due under this Lease shall be accelerated and shall be immediately due and payable at in full. For purposes of calculating the option Annual Percentage Rent that would have become due for the remainder of the MortgageeTerm, without notice or demand, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell highest Quarterly Percentage Rent amount paid during the Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee preceding thirty-six (36) months shall be entitled annualized and used as the Annual Percentage Rent amount. In the event the Premises are relet by Landlord (which right Landlord shall have at its sole election without an obligation to bid and purchase the Property and shall be entitled to apply the debt secured herebyrelet), or any portion thereof, in payment for the Property. (b) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled to the appointment of a receiver to enter upon and take and maintain full control of the Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited to, the execution, cancellation or modification of leases, the making of repairs to the Property and the execution or termination of contracts providing for the management or maintenance of the Property, all on such terms as are deemed appropriate to protect the security of this Mortgage. The receiver Tenant shall be entitled to a reasonable fee for so managing credit in the Property. All rents collected pursuant to this paragraph shall be applied first to the costs net amount of taking control and managing the Property and collecting the rents, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the Property, premiums on insurance policies, taxes, assessments rent and other charges on received by Landlord in reletting, after deduction of all reasonable expenses incurred in reletting the PropertyPremises (including, without limitation, remodeling costs, brokerage fees, attorneys' fees and the like), and in collecting the costs rent in connection therewith, in the following manner: Amounts received by Landlord after reletting shall first be applied against such Landlord's reasonable expenses, until the same are recovered, and until such recovery, Tenant shall pay, as of discharging each day when a payment would fall due under this Lease, the full amount thereof (Tenant's liability prior to any liability or obligation of Mortgagor such reletting and such recovery not in any way to be diminished as lessor or landlord a result of the Property fact that such reletting might be for a rent higher than the rent provided for in this Lease); when and then to if such expenses have been completely recovered, the sums secured amounts received from reletting by this Mortgage. Mortgagee and the receiver shall Landlord as have access to the books and records used in the operation and maintenance of the Property and not previously been applied shall be liable to account only for those rents actually received. Mortgagee shall not be liable to Mortgagor, anyone claiming under or through Mortgagor, or anyone having an interest in the Property by reason credited against Tenant's obligations as of anything done or left undone by Mortgagee each day when a payment would fall due under this paragraph. If Lease, and only the rents of the Property are not sufficient to meet the costs of taking control of and managing the Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds net amount thereof shall be payable on demand by Mortgagee Tenant. Further, amounts received by Landlord from such reletting for any period shall be credited only against obligations of Tenant accruing subsequent or prior to such period; nor shall any credit of any kind be due for any period after the date when the Term of this Lease is scheduled to expire according to its Term. Without limiting any of Landlord's rights and shall bear interest at the highest rate set forth in any promissory note secured by this Mortgage. The entering upon remedies hereunder, and taking and maintaining of control of the Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder. (c) The Mortgagee shall, in addition to all other rights amounts Tenant is otherwise obligated to pay, it is expressly agreed that Landlord shall be entitled to recover from Tenant all reasonable costs and remedies, have the rights and remedies of a secured party under the Uniform Commercial Codeexpenses, including without limitationattorneys' fees, incurred by Landlord in enforcing this Lease from and after Tenant's default. Notwithstanding anything contained herein to the contrary, Tenant expressly acknowledges the Landlord's right to take possession of show and rent other space in the Personal PropertyBuilding prior to showing or letting Tenant's space, and that Landlord is under no obligation to let Tenant's space upon terms and conditions different from that proposed for that purpose the Mortgagee may: (i) so far as the Mortgagor can give authority therefor, enter upon any premises on which the Personal Property may be situated and remove the same therefrom; (ii) take possession or control of the Personal Property and the premises on which it is located; (iii) require the Mortgagor to assemble all or any part of the Personal Property or records concerning the Personal Property and make such available to the Mortgagee at a place to be designated by the Mortgagee which is reasonably convenient to both parties; (iv) sell or otherwise dispose of all or any part of the inventory on any premises where then located without being liable to the Mortgagor on account of any loss, damage or depreciation that may occur as a result thereof so long as the Mortgagee shall act in a commercially reasonable manner; (v) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which the Mortgagor now has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, other space in the conduct of service, advertising, promotion and the like; and (vi) lease or license third persons or entities for such purpose. Unless the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Mortgagee shall give to the Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agrees is "reasonable notification" within the meaning of Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Personal Property is to be madeBuilding.

Consequences of Default. If an Event of Default shall occur: (a) All If any event of default or any event which, after the notice or lapse of time or both would constitute an event of default shall have happened, the Borrower shall forthwith give the Bank notice thereof in writing specifying such event of default, or such event. The Borrower shall also promptly inform the Bank if and when any statutory notice of winding-up under the provisions of the indebtedness secured hereby shall become and Companies Act, 1956 or any other law or of any suit or legal process intended to be immediately due and payable at filed/initiated against the option Borrower, is received by the Borrower. b) If the Borrower makes default in payment of the Mortgagee, without notice or demand, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee shall be entitled to bid and purchase the Property and shall be entitled to apply the debt secured hereby, said Dues or any portion part thereof, in payment for the Property. bank would be at liberty (b) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled to the appointment of a receiver to enter upon and take and maintain full control of the Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited to, the execution, cancellation or modification of leases, the making of repairs bound to the Property and the execution or termination of contracts providing for the management or maintenance of the Property, all on such terms do so) to appoint its nominee as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled Receiver without having resort to a reasonable fee for so managing the Property. All rents collected pursuant Court of Law and/or to this paragraph shall be applied first to the costs of taking control and managing the Property and collecting the rentsa proceeding in Court, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the Property, premiums on insurance policies, taxes, assessments and other charges on the Property, and the costs of discharging any liability or obligation of Mortgagor as lessor or landlord of the Property and then to the sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the Property and shall be liable to account only for those rents actually received. Mortgagee shall not be liable to Mortgagor, anyone claiming under or through Mortgagor, or anyone having an interest in the Property by reason of anything done or left undone by Mortgagee under this paragraph. If the rents of the Property are not sufficient to meet the costs of taking control of and managing the Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the highest rate set forth in any promissory note secured by this Mortgage. The entering upon and taking and maintaining of control of the Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder. (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the Personal Propertyproperties of the Borrower held /to be held by the Bank as security for the Credit Facility hereunder or under any other security document(s) executed / to be executed by the Borrower and/or the Guarantor/s in favour of the Bank, in whatever capacity, and the Bank shall also be entitled to resort to any or all the legal remedies as provided under this Agreement. c) On the question whether any of the above events/circumstances has occurred/happened, the decision of the Bank shall be final, conclusive and binding on the Borrower. d) In case of breach of the terms or in case of any of the events happening as stated hereinbefore, the Bank would have the full rights to sell, dispose off or realise the said securities, either by private treaty or public auction, at the sole discretion of the bank, on such terms and for such price that purpose the Mortgagee may: (iBank thinks fit, and apply the net proceeds towards the satisfaction of the balance outstanding in the Credit Facility account including charges, expenses, etc. or any other facility in whatever capacity. e) so far The Borrower hereby agrees as a pre-condition of the said credit Facility/ies being granted to it that in case the Borrower commit default in the repayment of the Credit Facility/ies or in the repayment of interest thereon or any of the agreed instalment of the Credit Facility/ies on due date/s, apart from the levy of penal charges and such charges, the Bank and/or Reserve Bank of India will have an unqualified right to disclose or publish its name or the name of its directors/partners/proprietors as defaulter in such manner and through such medium as the Mortgagor can give authority therefor, enter upon any premises on which Bank or Reserve Bank of India in their absolute discretion may think fit. f) The Borrower confirms unconditionally and irrevocably that it shall have no objection in case the Personal Property may be situated and remove the same therefrom; (ii) take possession or control of the Personal Property and the premises on which it is located; (iii) require the Mortgagor Bank decides to assemble all or any assign/sell a part of the Personal Property entire Credit Facility/credit Facility along with securities of the said machinery/goods/properties etc. to another Bank/institution/limited company/ Government body or records concerning department (“assignee/buyer”). In such case the Personal Property Borrower shall become the primary Borrower of such assignee /buyer and make such available shall at no point of time raise any objection, legal or otherwise regarding assignment, transfer and sale of the securities by the Bank in favour of the assignee / buyer. g) Upon the borrower opting for any scheme or accepting any offer from his employer providing for any benefit for resigning or retiring from the employment prior to superannuation, or upon the employer terminating his employment for any reason or upon the borrower resigning or retiring from the service of the employer for any reason whatsoever then notwithstanding anything to the Mortgagee at a place to contrary contained in this agreement or any letter or document, the entire outstanding principal amount of the loan as well as any outstanding interest and other dues thereof shall be designated payable by the Mortgagee which is reasonably convenient borrower to both parties; Bank from the amount or amounts received by him from the employer under such scheme or offer, or any terminal benefit, as the case may be. Provided however, in the event of the said amount or amounts being insufficient to repay the said sums in full, the unpaid amount remaining due to Bank shall be paid by the borrower in such manner as Bank may in its sole discretion and the payment will be made by the borrower accordingly notwithstanding anything stated in the Agreement and the Schedule. The borrower hereby irrevocably authorise, Bank to communicate with and receive the said amounts from his employer directly. h) Further, the Bank shall be entitled to forthwith take physical possession of the Properties hypothecated and/or mortgaged to the Bank (iv“properties”) and alienate sell, transfer the said properties either by itself or through its agents and sell or otherwise dispose of all deal with the same to enforce the bank's security and recover the dues, under private treaty or any part public auction, at the sole discretion of the inventory bank. i) The Borrower agrees and undertakes not to prevent or obstruct the Bank from taking possession of the properties and that the Bank's representatives will be entitled to sell, give on any premises where then located rent, or otherwise deal with the properties by public or private auction or private treaty, without being liable to the Mortgagor on account of for any loss, damage and to apply the net proceeds thereof as specified in these presents. j) The Borrower shall pay any deficiency, forthwith to the Bank. The Bank shall also be entitled to adjust any other amount of the Borrower, towards payment of such deficiency. Nothing contained in this clause shall oblige the bank to sell, hire or depreciation that may occur deal with the properties and the banks shall be entitled to proceed against the Borrower independently of such of any other security. The Borrower agrees to accept the bank's accounts in respect of such sale, hire or dealing as a result thereof so long conclusive. k) The Bank shall be entitled to take possession of the properties, irrespective of whether the loan has been recalled whenever in the opinion of the Bank, there is an apprehension of any money not being paid or the Bank's security is being jeopardised. l) The Bank shall be entitled to sell, assign, securitise or transfer, the Bank's rights and obligations hereunder to any person, company, partnership, agency of the Bank's choice in whole or in part and in such manner and on such terms as the Mortgagee Bank may decide. Any such sale, assignment, securitisation or transfer shall act in a commercially reasonable manner; (vconclusively bind the Borrowers. m) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses The Bank may at the risk and patents which cost of the Mortgagor now has Borrower engage one or more person(s) to collect the Borrower's outstanding and /or to enforce any security and may hereafter acquire, including furnish to such person the right and authority to use perform and execute all acts, deeds, matters and things connected therewith or license incidental thereto as the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion and the like; and (vi) lease or license third persons or entities for such purpose. Unless the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Mortgagee shall give to the Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agrees is "reasonable notification" within the meaning of Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Personal Property is to be madeBank thinks fit.

Consequences of Default. If an Event Upon Occurrence of Default any of the events of default, the Borrower and the Guarantor shall occur:be obliged to update the account together with bank charges, cheque bounce charges, overdue interest at the rate specified in Schedule 2 of this Agreement. The Lender may at any time thereafter, (a) All Issue a notice to the Borrower giving him a minimum of seven days time to update the dues pending as on that date. b) In case of the indebtedness secured hereby shall become and be immediately due and payable at Borrower alienating or secreting or keeping the option Asset beyond the reach of the MortgageeLender, without notice or demandthe Borrower using the Asset for unlawful purposes or the Borrower subjecting the Asset to abnormal wear and tear and / or alienating such other Assets of the Borrower which provide additional cover to the Lender for recovery of the amount due under the Agreement, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee Lender shall be entitled to bid take such steps including seizure of the hypothecated Asset and purchase invoking of the Property Guarantee without any notice to the Borrower. c) On expiry of the notice period, if the dues are not paid as demanded therein, then the Lender may at its sole discretion either by itself or acting through its agent or receiver, enter upon the premises where such Vehicle is located and take possession / seizure of the Vehicle and remove the same, all without any liability to the Lender or its agent, for such entry or damage to the property or otherwise. For this purpose the Borrower hereby expressly grants irrevocable authority to the Lender to enter upon the premises and exercise its rights under this clause. The Lender will be well within his rights to use tow-van or any carrier to carry away the Asset. The Borrower shall be liable to pay any towing charges and any other expenses incurred by the Lender in connection with the seizure of the Asset and for its sale etc. d) On taking possession of the Vehicle, the Lender shall terminate the Agreement and call upon the Borrower to pay the entire amount due under the Agreement including the future dues together with liquidated damages as may be determined by the Lender. A minimum notice period of seven days shall be provided to the Borrower to settle the account, on taking possession of the vehicle. e) If the Borrower and / or the Guarantors do not settle the account within the time so provided by the Lender, the Lender may proceed to sell the vehicle in “as is where is” condition, by Public Auction either on Web sites or through third parties by private sale or by displaying the details of vehicles offered for sale on the notice Board in the branch office of the Lender or in any manner as deemed appropriate by the Lender. However, if the Borrower settles the account within the notice period, then the Lender shall redeliver the Vehicle to the Borrower. f) On sale of the Vehicle, if there is any shortfall in the account then the Lender shall issue a notice to the Borrower calling on him to pay the shortfall amount, and the Borrower is liable to pay the same within seven days from the date of notice together with interest (at the rate as specified in schedule 2) till date of payment. On the contrary if there is any surplus on sale of the vehicle then the Lender shall refund such surplus amount to the Borrower. g) The Lender shall be entitled to apply recover from the debt secured herebyBorrower and the Guarantor/s all expenses (including legal costs on full indemnity basis) incurred by or on behalf of the Lender in ascertaining the whereabouts of the Asset, taking possession, garaging, insuring, transporting and selling the Asset and of any legal proceedings that may be filed by or on behalf of the Lender to enforce the provisions of the Agreement. It is expressly clarified that the remedies referred to hereinabove shall be in addition to and without prejudice to any other remedy available to the Lender either under this Agreement, or under any portion thereofother Agreement / undertaking, or in payment for the Propertylaw or equity. (bh) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled Notwithstanding anything to the appointment of a receiver to enter upon and take and maintain full control of contrary contained in the Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited toIndian Contract Act, the executionLender or its officers, cancellation agents or modification of leases, the making of repairs to the Property and the execution or termination of contracts providing for the management or maintenance of the Property, all on such terms as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled to a reasonable fee for so managing the Property. All rents collected pursuant to this paragraph shall be applied first to the costs of taking control and managing the Property and collecting the rents, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the Property, premiums on insurance policies, taxes, assessments and other charges on the Property, and the costs of discharging any liability or obligation of Mortgagor as lessor or landlord of the Property and then to the sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the Property and shall be liable to account only for those rents actually received. Mortgagee nominees shall not be liable to Mortgagorin any way responsible for any loss, anyone claiming under or through Mortgagordamage, limitation, or anyone having an interest depreciation that the hypothecated Asset may suffer or sustain on any account whatsoever whilst the same is in the Property by reason of anything done or left undone by Mortgagee under this paragraph. If the rents of the Property are not sufficient to meet the costs of taking control of and managing the Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the highest rate set forth in any promissory note secured by this Mortgage. The entering upon and taking and maintaining of control of the Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder. (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the Personal PropertyLender or its officers, and for that purpose the Mortgagee may: (i) so far as the Mortgagor can give authority therefor, enter upon any premises on which the Personal Property may be situated and remove the same therefrom; (ii) take possession agents or control nominees or because of exercise or non-exercise of the Personal Property and the premises on which it is located; (iii) require the Mortgagor to assemble all rights, powers, or any part of the Personal Property or records concerning the Personal Property and make such remedies available to the Mortgagee at a place to be designated by the Mortgagee which is reasonably convenient to both parties; (iv) sell Lender or otherwise dispose of its officers, agents or nominees and all or any part of the inventory on any premises where then located without being liable to the Mortgagor on account of any such loss, damage or depreciation that may occur as a result thereof so long as shall be debited to the Mortgagee shall act in a commercially reasonable manner; (v) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which account of the Mortgagor now has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion Borrower and the like; and (viGuarantor/s, howsoever the same may have been caused. i) lease or license third persons or entities for such purpose. Unless Notwithstanding any other rights available to the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized marketLender under this Agreement, the Mortgagee Lender shall give be entitled to initiate any other appropriate actions against the Borrower and /or the Guarantor(s) if at any time the Lender at its sole discretion has sufficient grounds to believe that the Borrower and /or the Guarantor(s) has / have made any misrepresentations and / or submitted any forged documents or fabricated data to the Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agrees is "reasonable notification" within the meaning of Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Personal Property is to be madeLender.

Consequences of Default. If 19.1. Upon the occurrence of an Event of Default shall occurDefault, BANGON PINOY may, at its sole discretion, without need of notice or demand, and without limiting BANGON PINOY’s rights under applicable law or under the Loan Agreement: (a) All of i. take such action and exercise such remedies in order to protect and enforce its rights under the indebtedness secured hereby shall become Loan Agreement; ii. declare the Loan Agreement, including all charges, fees, penalties and interest accrued and unpaid thereon, to be immediately due and payable payable, without need of presentment, demand, protest or further notice of any kind, all of which are herein expressly and specifically waived by the Borrower; iii. impose and collect the Collection Charge and the Penalties as stated in the Loan Agreement. The Collection Charge shall be imposed on each Installment Amount that is not paid by the Borrower within five days after the relevant due date. The relevant Penalty shall be imposed if the Borrower fails to pay an Installment Amount within 30, 60, or 90 days, as applicable, after the relevant due date. The Collection Charge and the Penalties are cumulative and shall be added to the principal obligation; iv. impose and recover from the Borrower the Attorney’s Fees and Agency ▇▇▇ as stated in the Loan Agreement and incurred in connection with enforcing the Borrower’s obligations under the Loan Agreement; and v. demand that the Borrower deliver (and Borrower undertakes to so deliver) the Products to BANGON PINOY at such time and place as may be designated by BANGON PINOY; provided, that delivery by the Borrower of the Products pursuant hereto shall not relieve the Borrower from the obligations under the Loan Agreement; provided further that BANGON PINOY may, at its discretion, sell or auction the Products delivered by the Borrower pursuant hereto in any manner that may be deemed appropriate by ▇▇▇▇▇▇ ▇▇▇▇▇, with the proceeds of such sale or auction to be applied to the repayment of the Borrower’s obligations under the Loan Agreement, after deduction of all the applicable costs. 19.2. The rights available to BANGON PINOY under the Loan Agreement and applicable law, may be exercised by BANGON PINOY alternatively, successively, concurrently, and/or cumulatively, at the option of the Mortgagee, without notice or demand, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee shall be entitled to bid and purchase the Property and shall be entitled to apply the debt secured hereby, or any portion thereof, in payment for the PropertyBANGON PINOY. (b) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled to the appointment of a receiver to enter upon and take and maintain full control of the Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited to, the execution, cancellation or modification of leases, the making of repairs to the Property and the execution or termination of contracts providing for the management or maintenance of the Property, all on such terms as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled to a reasonable fee for so managing the Property. All rents collected pursuant to this paragraph shall be applied first to the costs of taking control and managing the Property and collecting the rents, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the Property, premiums on insurance policies, taxes, assessments and other charges on the Property, and the costs of discharging any liability or obligation of Mortgagor as lessor or landlord of the Property and then to the sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the Property and shall be liable to account only for those rents actually received. Mortgagee shall not be liable to Mortgagor, anyone claiming under or through Mortgagor, or anyone having an interest in the Property by reason of anything done or left undone by Mortgagee under this paragraph. If the rents of the Property are not sufficient to meet the costs of taking control of and managing the Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the highest rate set forth in any promissory note secured by this Mortgage. The entering upon and taking and maintaining of control of the Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder. (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the Personal Property, and for that purpose the Mortgagee may: (i) so far as the Mortgagor can give authority therefor, enter upon any premises on which the Personal Property may be situated and remove the same therefrom; (ii) take possession or control of the Personal Property and the premises on which it is located; (iii) require the Mortgagor to assemble all or any part of the Personal Property or records concerning the Personal Property and make such available to the Mortgagee at a place to be designated by the Mortgagee which is reasonably convenient to both parties; (iv) sell or otherwise dispose of all or any part of the inventory on any premises where then located without being liable to the Mortgagor on account of any loss, damage or depreciation that may occur as a result thereof so long as the Mortgagee shall act in a commercially reasonable manner; (v) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which the Mortgagor now has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion and the like; and (vi) lease or license third persons or entities for such purpose. Unless the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Mortgagee shall give to the Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agrees is "reasonable notification" within the meaning of Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Personal Property is to be made.

Consequences of Default. If an Event of Default shall occur: (a) All If any event of default or any event which, after the notice or lapse of time or both would constitute an event of default shall have happened, the Borrower shall forthwith give the Bank notice thereof in writing specifying such event of default, or such event. The Borrower shall also promptly inform the Bank if and when any statutory notice of winding-up under the provisions of the indebtedness secured hereby shall become and Companies Act, 1956 or any other law or of any suit or legal process intended to be immediately due and payable at filed/initiated against the option Borrower, is received by the Borrower. b) If the Borrower makes default in payment of the Mortgagee, without notice or demand, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee shall be entitled to bid and purchase the Property and shall be entitled to apply the debt secured hereby, said Dues or any portion part thereof, in payment for the Property. bank would be at liberty (b) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled to the appointment of a receiver to enter upon and take and maintain full control of the Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited to, the execution, cancellation or modification of leases, the making of repairs bound to the Property and the execution or termination of contracts providing for the management or maintenance of the Property, all on such terms do so) to appoint its nominee as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled Receiver without having resort to a reasonable fee for so managing the Property. All rents collected pursuant Court of Law and/or to this paragraph shall be applied first to the costs of taking control and managing the Property and collecting the rentsa proceeding in Court, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the Property, premiums on insurance policies, taxes, assessments and other charges on the Property, and the costs of discharging any liability or obligation of Mortgagor as lessor or landlord of the Property and then to the sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the Property and shall be liable to account only for those rents actually received. Mortgagee shall not be liable to Mortgagor, anyone claiming under or through Mortgagor, or anyone having an interest in the Property by reason of anything done or left undone by Mortgagee under this paragraph. If the rents of the Property are not sufficient to meet the costs of taking control of and managing the Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the highest rate set forth in any promissory note secured by this Mortgage. The entering upon and taking and maintaining of control of the Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder. (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the Personal Propertyproperties of the Borrower held /to be held by the Bank as security for the Credit Facility hereunder or under any other security document(s) executed / to be executed by the Borrower and/or the Guarantor(s) in favour of the Bank, in whatever capacity, and the Bank shall also be entitled to resort to any or all the legal remedies as provided under this Agreement. c) On the question whether any of the above events/circumstances has occurred/happened, the decision of the Bank shall be final, conclusive and binding on the Borrower. d) In case of breach of the terms or in case of any of the events happening as stated hereinbefore, the Bank would have the full rights to sell, dispose off or realise the said securities, either by private treaty or public auction, at the sole discretion of the bank, on such terms and for such price that purpose the Mortgagee may: (iBank thinks fit, and apply the net proceeds towards the satisfaction of the balance outstanding in the Credit Facility account including charges, expenses, etc. or any other facility in whatever capacity. e) so far The Borrower hereby agrees as a pre-condition of the said credit Facility/ies being granted to it that in case the Borrower commit default in the repayment of the Credit Facility/ies or in the repayment of interest thereon or any of the agreed instalment of the Credit Facility/ies on due date/s, apart from the levy of penal charges and such charges, the Bank and/or Reserve Bank of India will have an unqualified right to disclose or publish its name or the name of its directors/partners/proprietors as defaulter in such manner and through such medium as the Mortgagor can give authority therefor, enter upon any premises on which Bank or Reserve Bank of India in their absolute discretion may think fit. f) The Borrower confirms unconditionally and irrevocably that it shall have no objection in case the Personal Property may be situated and remove the same therefrom; (ii) take possession or control of the Personal Property and the premises on which it is located; (iii) require the Mortgagor Bank decides to assemble all or any assign/sell a part of the Personal Property entire Credit Facility/credit Facility along with securities of the said machinery/goods/properties etc. to another Bank/institution/limited company/ Government body or records concerning department (“assignee/buyer”). In such case the Personal Property Borrower shall become the primary Borrower of such assignee /buyer and make such available shall at no point of time raise any objection, legal or otherwise regarding assignment, transfer and sale of the securities by the Bank in favour of the assignee / buyer. g) Upon the borrower opting for any scheme or accepting any offer from his employer providing for any benefit for resigning or retiring from the employment prior to superannuation, or upon the employer terminating his employment for any reason or upon the borrower resigning or retiring from the service of the employer for any reason whatsoever then notwithstanding anything to the Mortgagee at a place to contrary contained in this agreement or any letter or document, the entire outstanding principal amount of the loan as well as any outstanding interest and other dues thereof shall be designated payable by the Mortgagee which is reasonably convenient borrower to both parties; Bank from the amount or amounts received by him from the employer under such scheme or offer, or any terminal benefit, as the case may be. Provided however, in the event of the said amount or amounts being insufficient to repay the said sums in full, the unpaid amount remaining due to Bank shall be paid by the borrower in such manner as Bank may in its sole discretion and the payment will be made by the borrower accordingly notwithstanding anything stated in the Agreement and the Schedule. The borrower hereby irrevocably authorise, Bank to communicate with and receive the said amounts from his employer directly. h) Further, the Bank shall be entitled to forthwith take physical possession of the Properties hypothecated and/or mortgaged to the Bank (iv“properties”) and alienate sell, transfer the said properties either by itself or through its agents and sell or otherwise dispose of all deal with the same to enforce the bank's security and recover the dues, under private treaty or any part public auction, at the sole discretion of the inventory bank. i) The Borrower agrees and undertakes not to prevent or obstruct the Bank from taking possession of the properties and that the Bank's representatives will be entitled to sell, give on any premises where then located rent, or otherwise deal with the properties by public or private auction or private treaty, without being liable to the Mortgagor on account of for any loss, damage and to apply the net proceeds thereof as specified in these presents. j) The Borrower shall pay any deficiency, forthwith to the Bank. The Bank shall also be entitled to adjust any other amount of the Borrower, towards payment of such deficiency. Nothing contained in this clause shall oblige the bank to sell, hire or depreciation that may occur deal with the properties and the banks shall be entitled to proceed against the Borrower independently of such of any other security. The Borrower agrees to accept the bank's accounts in respect of such sale, hire or dealing as a result thereof so long conclusive. k) The Bank shall be entitled to take possession of the properties, irrespective of whether the loan has been recalled whenever in the opinion of the Bank, there is an apprehension of any money not being paid or the Bank's security is being jeopardised. l) The Bank shall be entitled to sell, assign, securitise or transfer, the Bank's rights and obligations hereunder to any person, company, partnership, agency of the Bank's choice in whole or in part and in such manner and on such terms as the Mortgagee Bank may decide. Any such sale, assignment, securitisation or transfer shall act in a commercially reasonable manner; (vconclusively bind the Borrowers. m) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses The Bank may at the risk and patents which cost of the Mortgagor now has Borrower engage one or more person(s) to collect the Borrower's outstanding and /or to enforce any security and may hereafter acquire, including furnish to such person the right and authority to use perform and execute all acts, deeds, matters and things connected therewith or license incidental thereto as the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion and the like; and (vi) lease or license third persons or entities for such purpose. Unless the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Mortgagee shall give to the Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agrees is "reasonable notification" within the meaning of Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Personal Property is to be madeBank thinks fit.

Consequences of Default. If an Event Upon Occurrence of Default any of the events of default, the Borrower and the Guarantor shall occur:be obliged to update the account together with bank charges, cheque bounce charges, overdue interest at the rate specified in Schedule 2 of this Agreement. The Lender may at any time thereafter, (a) All Issue a notice to the Borrower giving him a minimum of seven days time to update the dues pending as on that date. b) In case of the indebtedness secured hereby shall become and be immediately due and payable at Borrower alienating or secreting or keeping the option Asset beyond the reach of the MortgageeLender, without notice or demandthe Borrower using the Asset for unlawful purposes or the Borrower subjecting the Asset to abnormal wear and tear and / or alienating such other Assets of the Borrower which provide additional cover to the Lender for recovery of the amount due under the Agreement, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee Lender shall be entitled to bid take such steps including seizure of the hypothecated Asset and purchase invoking of the Property Guarantee without any notice to the Borrower. c) On expiry of the notice period, if the dues are not paid as demanded therein, then the Lender may at its sole discretion either by itself or acting through its agent or receiver, enter upon the premises where such Vehicle is located and take possession / seizure of the Vehicle and remove the same, all without any liability to the Lender or its agent, for such entry or damage to the property or otherwise. For this purpose the Borrower hereby expressly grants irrevocable authority to the Lender to enter upon the premises and exercise its rights under this clause. The Lender will be well within his rights to use tow-van or any carrier to carry away the Asset. The Borrower shall be liable to pay any towing charges and any other expenses incurred by the Lender in connection with the seizure of the Asset and for its sale etc. d) On taking possession of the Vehicle, the Lender shall terminate the Agreement and call upon the Borrower to pay the entire amount due under the Agreement including the future dues together with liquidated damages as may be determined by the Lender. A minimum notice period of seven days shall be provided to the Borrower to settle the account, on taking possession of the vehicle. e) If the Borrower and / or the Guarantors do not settle the account within the time so provided by the Lender, the Lender may proceed to sell the vehicle in “as is where is” condition, by Public Auction either on Web sites or through third parties by private sale or by displaying the details of vehicles offered for sale on the notice Board in the branch office of the Lender or in any manner as deemed appropriate by the Lender. However, if the Borrower settles the account within the notice period, then the Lender shall redeliver the Vehicle to the Borrower. f) On sale of the Vehicle, if there is any shortfall in the account then the Lender shall issue a notice to the Borrower calling on him to pay the shortfall amount, and the Borrower is liable to pay the same within seven days from the date of notice together with interest (at the rate as specified in schedule 2) till date of payment. On the contrary if there is any surplus on sale of the vehicle then the Lender shall refund such surplus amount to the Borrower. g) The Lender shall be entitled to apply recover from the debt secured herebyBorrower and the Guarantor/s all expenses (including legal costs on full indemnity basis) incurred by or on behalf of the Lender in ascertaining the whereabouts of the Asset, taking possession, garaging, insuring, transporting and selling the Asset and of any legal proceedings that may be filed by or on behalf of the Lender to enforce the provisions of the Agreement. It is expressly clarified that the remedies referred to hereinabove shall be in addition to and without prejudice to any other remedy available to the Lender either under this Agreement, or under any portion thereofother Agreement / undertaking, or in payment for the Propertylaw or equity. (bh) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled Notwithstanding anything to the appointment of a receiver to enter upon and take and maintain full control of contrary contained in the Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited toIndian Contract Act, the executionLender or its officers, cancellation agents or modification of leases, the making of repairs to the Property and the execution or termination of contracts providing for the management or maintenance of the Property, all on such terms as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled to a reasonable fee for so managing the Property. All rents collected pursuant to this paragraph shall be applied first to the costs of taking control and managing the Property and collecting the rents, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the Property, premiums on insurance policies, taxes, assessments and other charges on the Property, and the costs of discharging any liability or obligation of Mortgagor as lessor or landlord of the Property and then to the sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the Property and shall be liable to account only for those rents actually received. Mortgagee nominees shall not be liable to Mortgagorin any way responsible for any loss, anyone claiming under or through Mortgagordamage, limitation, or anyone having an interest depreciation that the hypothecated Asset may suffer or sustain on any account whatsoever whilst the same is in the Property by reason of anything done or left undone by Mortgagee under this paragraph. If the rents of the Property are not sufficient to meet the costs of taking control of and managing the Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the highest rate set forth in any promissory note secured by this Mortgage. The entering upon and taking and maintaining of control of the Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder. (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the Personal PropertyLender or its officers, and for that purpose the Mortgagee may: (i) so far as the Mortgagor can give authority therefor, enter upon any premises on which the Personal Property may be situated and remove the same therefrom; (ii) take possession agents or control nominees or because of exercise or non-exercise of the Personal Property and the premises on which it is located; (iii) require the Mortgagor to assemble all rights, powers, or any part of the Personal Property or records concerning the Personal Property and make such remedies available to the Mortgagee at a place to be designated by the Mortgagee which is reasonably convenient to both parties; (iv) sell Lender or otherwise dispose of its officers, agents or nominees and all or any part of the inventory on any premises where then located without being liable to the Mortgagor on account of any such loss, damage or depreciation that may occur as a result thereof so long as shall be debited to the Mortgagee shall act in a commercially reasonable manner; (v) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which account of the Mortgagor now has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion Borrower and the like; and (viGuarantor/s, howsoever the same may have been caused. I) lease or license third persons or entities for such purpose. Unless Notwithstanding any other rights available to the Personal Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized marketLender under this Agreement, the Mortgagee Lender shall give be entitled to initiate any other appropriate actions against the Borrower and /or the Guarantor(s) if at any time the Lender at its sole discretion has sufficient grounds to believe that the Borrower and /or the Guarantor(s) has / have made any misrepresentations and / or submitted any forged documents or fabricated data to the Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agrees is "reasonable notification" within the meaning of Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Personal Property is to be madeLender.