Common use of NOW THE CONDITION Clause in Contracts

NOW THE CONDITION. OF THE OBLIGATION is such that if the said Borrower shall while employed in the said or any other Ministry/Office__________________________duly and egularly pay or cause to be paid to the Government the amount of the aforesaid advance owing to the Government by instalments until the said sum of Rs.____________ (Rupees_________________________________________onl.y) shall be duly paid or mortgages to the Government the house built/purchased referred to above whichever event happens earlier, then this bond shall be void; otherwise the same shall be and remain in full force and virtue. ……/2 BUT SO NEVERTHELESS that if the Borrower shall die or become insolvent or at any time cease to be in the service of the Government, the whole or so much of the said principal sum of Rs._____________ (Rupees__________________________________only) together with the interest as shall then remain unpaid shall immediately become due and payable to the Government and recoverable from the Surety in one instalment by virtue of this Bond. The obligation undertaken by the Surety shall not be discharged or in any way affected by an extension of time or any other indulgence granted by the Government to the said Borrower. The stamp-duty payable in respect of these presents shall be borne and paid by the Government. Signed and delivered by the said_________________________________________________. Signature of Surety_____________________________________ Designation _________________________________________ Office to which attached_________________________________ In the presence of : 1st Witness : Address : Occupation : 2nd Witness : Address : Occupation : In the presence of : : 1st Witness : Address : Occupation : 2nd Witness : Address : Occupation :

NOW THE CONDITION. OF THE OBLIGATION ABOVE WRITTEN BOND is such that if the said Borrower shall while employed in *........................................................... has whilst he has held the said office of as aforesaid, always duly performed and fulfilled the duties of his said office and if he shall, whilst he shall hold the said office or any other Ministry/Office__________________________duly office requiring security to which he may be appointed, or in which he may act, always duly perform and egularly fulfill all and every duties thereof respectively and other duties which may from time to time be required of him while holding any such office as aforesaid, and shall duly pay into the Government Treasury at ................................. all such moneys and securities for moneys are payable or deliverable to Government and shall come into his possession or control by reason of the said office and if the said his heirs, executors, administrators or legal representatives, shall pay or cause to be paid to unto the Government the amount of any loss or defalcation in the aforesaid advance owing accounts of the said .................................. within 24 hours after the amount of such loss and/or defalcation shall have been demanded from the said .......................................... by the such demand to be in writing and left at the office or last known place of residence of the said and shall also at all times indemnify and save, or any such offices aforesaid, be sustained, incurred, suffered, brought, sued or commenced or paid by the Government by instalments until reason of any act, embezzlement, defalcation, mismanagement, neglect, failure, misconduct, default, disobedience, omission, or insolvency of the said sum ................................. or of Rs.____________ (Rupees_________________________________________onl.y) shall any person or persons acting under him or for whom he may be duly paid or mortgages to the Government the house built/purchased referred to above whichever event happens earlierresponsible, then this the above written bond shall be void; void and of no effect, otherwise the same shall be and remain in full force and virtue. ……/2 BUT SO NEVERTHELESS that if the Borrower shall die or become insolvent or at any time cease to be in the service of the Government, the whole or so much of the said principal sum of Rsforce._____________ (Rupees__________________________________only) together with the interest as shall then remain unpaid shall immediately become due and payable to the Government and recoverable from the Surety in one instalment by virtue of this Bond. The obligation undertaken by the Surety shall not be discharged or in any way affected by an extension of time or any other indulgence granted by the Government to the said Borrower. The stamp-duty payable in respect of these presents shall be borne and paid by the Government. Signed and delivered by the said_________________________________________________. Signature of Surety_____________________________________ Designation _________________________________________ Office to which attached_________________________________ In the presence of : 1st Witness : Address : Occupation : 2nd Witness : Address : Occupation : In the presence of : : 1st Witness : Address : Occupation : 2nd Witness : Address : Occupation :