Common use of Own Contribution Clause in Contracts

Own Contribution. The Borrower represents and warrants to the Bank that the Borrower has paid to the builder/developer his/her/their contribution, being an amount described in Schedule herein, in full. The Borrower represents that the Borrower’s Contribution towards purchase of the Property is not connected directly or indirectly to any proceeds of any scheduled offence under the Prevention of Money Laundering Act, 2002 and is not designed for the purpose of any contravention or evasion of the provisions of the Prevention of Money Laundering Act, 2002, rules, regulations, notifications, guidelines or directions of any other statutory authority passed from and/or amended from time to time and the Borrower agrees to adhere to the provisions of the Prevention of Money Laundering Act, 2002, and rules, regulations, notifications, guidelines or directions of any other statutory authority and/or any other Applicable Laws passed in that regard from and/or amended from time to time.

Own Contribution. The Borrower represents and warrants to the Bank that the Borrower has has, paid to the builder/developer his/her/their contribution, own contribution being an amount described in Schedule herein, 1 herein in full. .The Borrower represents that the Borrower’s Contribution towards purchase of the Property is not connected directly or indirectly to any proceeds of any scheduled offence under the Prevention of Money Laundering Act, 2002 and is not designed for the purpose of any contravention or evasion of the provisions of the Prevention of Money Laundering Act, 2002, rules, regulations, notifications, guidelines or directions of any other statutory authority passed from and/or amended from time to time and the Borrower agrees to adhere to the provisions of the Prevention of Money Laundering Act, 2002, and rules, regulations, notifications, guidelines or directions of any other statutory authority and/or any other Applicable Laws passed in that regard from and/or amended from time to time.

Own Contribution. The Borrower represents and warrants to the Bank that the Borrower has has, paid to the builder/developer his/her/their contribution, own contribution being an amount described in Schedule herein, herein in full. The Borrower represents that the Borrower’s Contribution towards purchase of the Property is not connected directly or indirectly to any proceeds of any scheduled offence under the Prevention of Money Laundering Act, 2002 and is not designed for the purpose of any contravention or evasion of the provisions of the Prevention of Money Laundering Act, 2002, rules, regulations, notifications, guidelines or directions of any other statutory authority passed from and/or amended from time to time and the Borrower agrees to adhere to the provisions of the Prevention of Money Laundering Act, 2002, and rules, regulations, notifications, guidelines or directions of any other statutory authority and/or any other Applicable Laws passed in that regard from and/or amended from time to time.