Details of Disbursement Clause Samples

Details of Disbursement. (a) IHFL shall in its sole and absolute discretion may disburse the Loan either in one lump sum or in suitable installments having regard to the needs of the Borrower/s. The Borrower/s agrees that the decision of IHFL in this regard shall be final, conclusive and binding upon the Borrower/s, and the Borrower/s undertakes that he shall not question and/or challenge the decision/discretion of IHFL. (b) The Borrower/s also agrees and undertakes to issue such acknowledgement and/or receipt (in the manner and form required by IHFL) of each amount so disbursed (c) All the payments to be made by IHFL to the borrower under or in terms of this agreement shall be made by the cheque duly crossed and marked account payee only and the collection charges, if any, in respect of all such cheques will have to be born by the borrower and interest on IHFL loan will begin to accrue in favour of IHFL as on the date of delivery or dispatch of the cheque, irrespective of the time taken for transit / collection/ realization by the borrower and his bank. (d) That wherein the borrower(s) avails loan in installments and only interest is payable till the complete disbursal of loan, IHFL, shall be at liberty to start EMI on the disbursed amount anytime, after 12 months from date of commencement of first PEMII or from such period as determined by IHFL, at its sole discretion and the Borrower(s) shall have no objection to the same. (e) The decision of IHFL in this regard as to disbursal of the Loan shall be final, conclusive and binding on the Borrower/s. (f) That in case the purpose of the Loan is:- (I) Acquisition/purchase of a Property then:- The Borrower/s clearly understands and agrees that IHFL would disburse the Loan (whether in part or in full) for the acquisition of the Property only after the Borrower's own contribution has been made for the same to the builder/developer/ seller and the proof of the same (to the satisfaction of IHFL) has been furnished toIHFL by the Borrower/s. Further, IHFL shall also be entitled to verify the authenticity of such proof before disbursing the Loan. (II) Construction / Repair / Improvement etc then:- The Borrower/s clearly understands and agrees that the disbursal towards construction/ improvement of Property shall be made only after the construction/improvement work has commenced on the Property, and the proof thereof (to the satisfaction of IHFL) has been furnished to IHFL by the Borrower/s. Further, IHFL shall also be entitled to verify the ...

Details of Disbursement. The Lender shall disburse the Loan in one lumpsum or in suitable installments having regard to the needs of the Borrower. The decision of the Lender in this regard shall be final, conclusive and binding on the Borrower. The Borrower shall acknowledge the receipt, in the form required by the Lender, of each amount so disbursed.

Details of Disbursement. 4.1 The Lender shall disburse the Loan in one lumpsum or in suitable installments / tranches as mutually decided between the Borrower and the Lender. 4.2 The mode and manner of Disbursement is left to the sole discretion of the Lender/Bank. 4.3 Interest on the Loan will begin to accrue in favour of the Lender as and from the date of disbursement of the Loan. 4.4 The right of the Borrower to make drawals under this Agreement shall cease on the expiry of the validity period of the Loan specified in Schedule I. The Lender may by notice to the Borrower suspend or cancel further disbursements of the Loan, if the Loan shall not have been fully drawn within the validity period as specified in Schedule I (as applicable) or such other period as may be decided by the Lender. 4.5 If any monies are remaining due and payable by the Borrower to the Lender, whether under this Agreement, or any other Transactions Documents or otherwise, the Lender may, in its sole discretion, reduce the availability of the amounts of the Loan and/or adjust such monies against the Loan and all such adjustments shall be treated as disbursements to / repayment by the Borrower. 4.6 The decision of the Lender as regards any matter pertaining to disbursement shall be final, conclusive and binding on the Borrower.

Details of Disbursement. The Borrower shall indicate the manner of disbursement of Loan by the Lender, as desired by him, However, the Lender shall have the sole discretion to determine the manner of disbursement, which shall be deemed to be the disbursement to the Borrower as contemplated under this Agreement In the case of purchase of new Assets, the Loan amount may, at the option of the Lender, be disbursed by the Lender directly to the Dealer / Manufacturer and disbursement shall be deemed to be disbursement to the Borrower. In case of purchase of used Assets, the Lender shall determine the manner of the disbursement; i.e., either to the owner / seller of the Asset or to the Dealer or to the Borrower and such disbursement shall be deemed to be the disbursement to the Borrower as contemplated under this Agreement.

Details of Disbursement. The Loan shall be disbursed in one lump sum or in suitable installments to be decided by IHFL with reference to the need or progress of Construction (which decision shall be final and binding on the Borrower). The Borrower hereby acknowledges receipt of the loan disbursed as per request for disbursal submitted with IHFL. The Loan facility may be reappraised on legal, technical and financial terms during the continuity of Loan facility. Upon such reappraisal IHFL may hold, suspend, down size, cancel and/or recall disbursement of the Loan facility, at its own sole discretion.

Details of Disbursement. The Loan may be disbursed in one or more than one installment over a period to be decided by the Lender with reference to the availability of the Loan for the Purpose (which decision shall be final and binding on the Borrower). The Borrower hereby acknowledges the receipt of the Loan/ installment disbursed as indicated in the receipt annexed herein and agrees to acknowledge the receipt of the Loan against future disbursement, if any.

Details of Disbursement. The Loan shall be disbursed in one lumpsum or in suitable instalments to be decided byAUSFB with reference to the need or progress of construction (which decision shall be final and binding on the Borrower). The Borrower hereby acknowledges the receipt of the Loan disbursed as indicated in the Receipt herein below.

Details of Disbursement a) The Loan shall be disbursed by the Bank to the Borrower in a single/ multiple tranches. b) Upon the fulfilment of the conditions precedents as set under Article 3 of this Agreement to the satisfaction of the Bank, the Borrower shall give Drawdown Notice(s) to the Bank specifying the proposed date of each Drawdown, which should be within the Availability Period and on a Business Day. Disbursal of funds under the Loan by the Bank shall be by way of crediting the relevant drawdown amount directly to the Borrower or in the operating account of the Borrower or in such other manner as may be decided solely by the Bank. c) The Drawdown Notice should reach the Bank at least 7 (seven) Business Days before the date of the proposed Drawdown and within the Availability Period. Any undrawn Loan amounts at the end of the Availability Period shall automatically lapse and the Borrower shall have no claim against any such undrawn Loan from the Bank. d) On the performance by the Borrower of all conditions precedent to the satisfaction of the Bank as hereinafter provided and upon receipt of the Drawdown Notice from the Borrower as aforesaid, the Bank shall disburse the Loan as per the Drawdown Notice issued by the Borrower.

Details of Disbursement. The Loan shall be disbursed in one lump sum or in suitable instalments to be decided by BANDHAN BANK with reference to the need or progress of construction /purchase of the property. BANDHAN BANK’s decision in this regard shall be final and binding on the Borrower. The Borrower hereby acknowledges the receipt of the Loan disbursed as per details given in the Schedule.