Ecb Loan Agreement Format

11.1 This Agreement, together with the documents and other materials provided for in this Agreement, constitute the entire agreement between the Borrower and the Lender and express their full understanding of the loans to be advanced or advanced by the Lender to the Borrower. “advances” means any loan or credit advance from the lender to the borrower in accordance with this Agreement; 16.1 This Agreement shall be governed by and construed in accordance with the laws of India. 9.1 Each of the following events constitutes an event of default (a “delay event”) under this Agreement: (a) an application for insolvency is made in respect of the Borrower, the Borrower requests the suspension of payments or seeks its own bankruptcy; (b) a decision to dissolve or liquidate the borrower is taken or such dissolution is ordered by a court or other competent authority; (c) the borrower violates an obligation under this Agreement, the breach of which, if it can be corrected, is not corrected within ten days of receipt of written notice to the borrower to that effect; (d) the borrower meets with its creditors, has appointed a receiver for all or part of its assets, or takes or undergoes similar measures in view of its debts. 12.1 This Agreement and its amendments may be executed in several considerations, each of which is an original. In the event that such sums are due and payable, the lender may enforce the payment in a manner it can choose and exercise all of its rights and remedies, whether under this Contract or under applicable law. 10.1 Any notification under this Agreement shall be in writing. Any communication to be sent to one of the Parties shall be sufficiently served when it is sent to it by registered letter at the address of the registered office of the Party concerned, as established at the beginning of this Agreement. By “interest rate period”, with respect to each advance, this Loan Facility Agreement (“Agreement”) is entered into on that date of______2019 by and between _____CIN no.________________________) established by and between ____ and_________________________, (CIN no._____________________________) a private enterprise established under Indian law and established in __,,________ 6.2 The Borrower may, subject to the prior approval of the RBI and in accordance with fema guidelines, pay the Lender advances on outstanding advances before the due date of each business day, without penalty. 5.1 Unless the lender can agree otherwise in writing, the proceeds of the advances shall be used by the borrower for the purposes of extending existing institutions and working capital facilities as well as for business purposes. . .


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