The Loan provided by Global Syndicate Finance shall be the amount stated in the Sanction Letter which shall be strictly in accordance with the Terms and Conditions mentioned here in below and in other documents executed by the Borrower/s / Guarantor/s. 

The Loan may be disbursed by Global Syndicate Finance in one lump sum or in such instalments as may be decided by Global Syndicate Finance. The Borrower(s) shall acknowledge the Receipt in the form required by Global Syndicate Finance in respect of each amount so disbursed.

Subject to the terms and conditions set forth herein and in the other Loan Documents,Global Syndicate Finance may extend the Loan to the Borrower up to an aggregate of the principal amount as specified in the Loan Sanction Letter. 

The Loan shall be utilized by the Borrower only for the specific purpose as stated in the Loan Documents, and for no other reason or purpose whatsoever.

Global Syndicate Finance shall be entitled to revise the Rate of Interest at any time and from time to time as per its policy and/or applicable laws and regulations, if any, during the tenor of the Loan at its discretion. Global Syndicate Finance shall inform the Borrower/s about the variation in the Rate of Interest in due course. Upon revision of the Rate of Interest,either the amount of unpaid Installments may be re-computed or the number of Installments may be increased or decreased, as the case may be, in such a manner that the amount of Loan and interest thereon outstanding on the date of revision of the Rate of Interest is equally distributed through each of the unpaid Installments.

The Terms and Conditions entered into between Global Syndicate Finance and the Borrower/s is a pure financial arrangement and Global Syndicate Finance shall not be liable to the Borrower/s for any liability, claim, loss or expense of any kind caused directly or indirectly to the Borrower/s.

Global Syndicate Finance reserves the right to increase the Rate of Interest, suitably and prospectively, in line with an increase in Global Syndicate Finance’s borrowing rate. Global Syndicate Finance shall have the right to re-compute installments if the interest rate is varied.

The Borrower/s shall pay to Global Syndicate Finance all Installments, inclusive of interest, on a monthly basis on the Scheduled Due Date, from the first due date to the last due date as mentioned in the Application Form/Sanction Letter/ Most Important Document (MID), time being the essence of the contract, by issuing PDCs/ECS to Global Syndicate Finance . The Borrower/s shall honor all payments without fail on first presentation/Scheduled Due Dates and Borrower/s shall not instruct their bankers to stop payment of the cheques / countermand the cheques.

The Borrower shall pay to Global Syndicate Finance any and all taxes, duties or cesses including but not limited to service tax, stamp duty, VAT, duties, and/or all other levies and imposts, by whatever name called, payable in relation to the Loan provided by Global Syndicate Finance and/or the services provided pursuant hereto and/or any or all the Loan Documents. The Borrower/s shall reimburse to Global Syndicate Finance any such amount which may become payable or has been paid by Global Syndicate Finance, as and when called upon to do so by Global Syndicate Finance and if the Borrower/s fails to pay/reimburse the same, such amounts paid by Global Syndicate Finance shall form part of the principal amount of the Loan disbursed The Borrower/s shall not dispute Global Syndicate Finance’s method of calculating Installments.