WILFUL DEFAULTER Sample Clauses

WILFUL DEFAULTER. The Borrower shall be required to ensure that it shall not at any point of time during the currency of the Facilities so sanctioned to the Borrower by the Bank induct into the company any person who is a director on the board of any other company which has been classified as a wilful defaulter, and that in the event that the Bank ascertains that such a person has been inducted, then the Bank shall be within its rights to direct the Borrower to initiate appropriate steps for the removal of such a person.

WILFUL DEFAULTER. In the event a director, partner, promoter, member or trustee, as the case may be, of the Issuer or the Asset SPV, is identified as wilful defaulter, the Issuer or the Asset SPV (as the case may be) shall take expeditious and effective steps for removal of such person.

WILFUL DEFAULTER. The Borrower shall, have removed its director(s), whose name(s) appear in willful defaulters list maintained by RBI or CIBIL and/ or any other authority from its Board and/ or get their names deleted from the list maintained by the aforesaid authorities.

WILFUL DEFAULTER. (a) No Obligor is on the wilful defaulter list of the RBI or has been identified as a wilful defaulter by any bank or financial institution in accordance with the parameters determined by RBI from time to time. (b) No director of any Obligor is on the wilful defaulter list of the RBI or has been identified as a wilful defaulter by any bank or financial institution in accordance with the parameters determined by RBI from time to time.

WILFUL DEFAULTER. The inclusion of the Issuer or the Asset SPV in any list of wilful defaulters issued by the RBI from time to time.

WILFUL DEFAULTER. Neither the Issuer nor any member of their board of directors/ board of trustees/ management committee are Persons: (a) whose name has been identified as a defaulter/ wilful defaulter by the RBI or TransUnion CIBIL Limited or in any caution list issued by the Export Credit Guarantee Corporation of India and/ or the Director General of Foreign Trade; (b) who have been identified as a defaulter/ wilful defaulter by any bank or financial institution in accordance with the parameters determined by the RBI from time to time; (c) who have been identified as a non-cooperative Issuer by any of its lenders including any banks; or (d) who is a director in any company which has been identified as a defaulter/ wilful defaulter by the RBI or similar governmental Authority.

WILFUL DEFAULTER. The Company has not been declared wilful defaulter by any bank or financial institution or other lender.

WILFUL DEFAULTER. Neither the Issuer nor the officers of the Issuer, its respective members of the governing board of the Investment Manager or the Sponsors (as applicable), have been included in the list of ‘wilful defaulters’ issued by the RBI or any financial institution.

WILFUL DEFAULTER. Neither the Company nor any of its directors have been declared to be a wilful defaulter. In the event of any of the directors of the Company is identified as a willful defaulter, the Company shall take expeditious and effective steps for removal of such director from the Board of Directors of the Company.