[{"id":"8bf1be39-4338-4fe8-b0b5-d14ca52f8928","order":1,"text":"LOAN AGREEMENT","fontSize":"22","textAlign":"center","bold":true,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"05f58fcc-3d05-4cc3-94df-d86a8d581b44","order":2,"text":"(together with the Demand Promissory Note annexed hereto, governed inter alia by the Negotiable Instruments Act, 1881)","fontSize":"12","textAlign":"center","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"3b428ff1-2a4d-4a42-a07c-84ad529df594","order":3,"text":"This Loan Agreement (this "Agreement") is made and executed at [Place of execution] on [Date].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"16","cflou":false,"active":true},{"id":"09e6147f-166d-41c0-8559-51f94fe396b9","order":4,"text":"BETWEEN","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"a4abcb0f-5a03-4c93-9c6a-e534271abdf4","order":5,"text":"[Lender name], son/daughter/wife of [Relative name], an individual having Permanent Account Number (PAN) [Lender PAN] and residing at [Lender address] (hereinafter referred to as the "Lender", which expression shall, unless repugnant to the context, include the Lender's heirs, legal representatives, executors, administrators, successors and permitted assigns) of the FIRST PART;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"de96f591-433a-4e77-a46c-afe905fdeedb","value":"Entity","type":"remove","operator":"="}]},{"id":"e9061ebb-6856-492a-b8a0-858917b7ef7c","order":6,"text":"[Lender name], a [Form of entity] incorporated/registered under the laws of India, having Corporate Identity Number / registration number [CIN / Registration No.] and PAN [Lender PAN], having its registered office at [Lender address], represented by its duly authorised signatory [Authorised signatory name], [Designation] (hereinafter referred to as the "Lender", which expression shall, unless repugnant to the context, include its successors and permitted assigns) of the FIRST PART;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"de96f591-433a-4e77-a46c-afe905fdeedb","value":"Individual","type":"remove","operator":"="}]},{"id":"05f85b4c-9c73-41b7-87e3-5e4abcf2670a","order":7,"text":"AND","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"6ccda04d-674a-4608-9e83-92af413e8198","order":8,"text":"[Borrower name], son/daughter/wife of [Relative name], an individual having PAN [Borrower PAN] and residing at [Borrower address] (hereinafter referred to as the "Borrower", which expression shall, unless repugnant to the context, include the Borrower's heirs, legal representatives, executors, administrators, successors and permitted assigns) of the SECOND PART.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"ce9ad3ca-2c79-45b6-95f1-facf1fd45fdb","value":"Entity","type":"remove","operator":"="}]},{"id":"2f31b889-4844-4ed2-a836-a8b7b345c175","order":9,"text":"[Borrower name], a [Form of entity] incorporated/registered under the laws of India, having Corporate Identity Number / registration number [CIN / Registration No.] and PAN [Borrower PAN], having its registered office at [Borrower address], represented by its duly authorised signatory [Authorised signatory name], [Designation] (hereinafter referred to as the "Borrower", which expression shall, unless repugnant to the context, include its successors and permitted assigns) of the SECOND PART.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"ce9ad3ca-2c79-45b6-95f1-facf1fd45fdb","value":"Individual","type":"remove","operator":"="}]},{"id":"5198214a-e1f9-41af-bf42-41725030102b","order":10,"text":"The Lender and the Borrower are hereinafter individually referred to as a "Party" and collectively as the "Parties".","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"16","cflou":false,"active":true},{"id":"a0a423b1-6480-49da-bf36-852c6770fa7b","order":11,"text":"WHEREAS","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"e0f910b9-7760-4c73-adaa-441ebebb447c","order":12,"text":"A. The Borrower has approached the Lender for a loan and the Lender has agreed to grant to the Borrower a loan of Rs. [Amount in figures]/- ([Amount in words] only) upon the terms and conditions set out in this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"ff627412-8bbf-49f9-92a4-b5328e7427d2","order":13,"text":"B. The Parties are desirous of recording in writing the terms governing the said loan and, for the Lender's further security, the Borrower has agreed to execute a Demand Promissory Note in the form annexed hereto as Schedule I.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"b1309c5a-766e-48b2-b386-a523279d9bfd","order":14,"text":"NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the Parties hereby agree as follows:","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"16","cflou":false,"active":true},{"id":"e6429517-2146-4e38-9f46-ac91ba44493c","order":15,"text":"1. DEFINITIONS AND INTERPRETATION","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"sectionNum":"S01"},{"id":"97a5dba7-d1e8-4c50-a10d-dd86a55c5b72","order":16,"text":"In this Agreement, unless the context otherwise requires: "Loan" means the principal amount advanced under the clause headed The Loan and its Disbursement; "Outstanding Amount" means at any time the aggregate of the unpaid principal together with all accrued interest, default interest, costs, charges and other sums payable under this Agreement; "Business Day" means a day (other than a Saturday, Sunday or public holiday) on which banks are open for general business in India; "Due Date" means each date on which any sum falls due under this Agreement; and references to statutes include any statutory modification or re-enactment thereof for the time being in force.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"83e0a903-6eeb-4667-afc2-cc91892c273b","order":17,"text":"The headings are for convenience only and shall not affect interpretation. Words importing the singular include the plural and vice versa, and words importing any gender include every gender. Where the Borrower comprises more than one person, their obligations are joint and several as provided in the clause headed Joint and Several Liability.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"f0d7181f-a5db-4577-8675-7a03d86224ec","order":18,"text":"2. PURPOSE OF THE LOAN","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"sectionNum":"S02"},{"id":"5f28216b-efc3-4b1d-8a4b-2b8ee80c2800","order":19,"text":"The Borrower shall apply the Loan solely for the following purpose: [Purpose of the loan]. The Borrower shall not, without the prior written consent of the Lender, use the Loan or any part of it for any other purpose, nor for any unlawful purpose or any purpose prohibited by applicable law (including the Prevention of Money-Laundering Act, 2002). The Lender shall not be obliged to monitor or verify the application of the Loan, and any failure to apply the Loan towards the stated purpose shall constitute an Event of Default.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"728cfb75-83c2-4a7c-a4aa-e5272a9f5f6b","order":20,"text":"3. THE LOAN AND ITS DISBURSEMENT","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"sectionNum":"S03"},{"id":"0818dacb-9482-4d6d-838e-eb4a4f9539d7","order":21,"text":"The Lender agrees to lend and advance to the Borrower, and the Borrower agrees to borrow, the principal sum of Rs. [Amount in figures]/- ([Amount in words] only) (the "Loan").","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"fbb44174-05e6-4ac0-a5c1-98e13b353fba","order":22,"text":"The Loan shall be disbursed by the Lender to the Borrower by way of [Mode of disbursement] on or about [Disbursement date]. The Parties acknowledge that, under Sections 269SS and 269T of the Income-tax Act, 1961, a loan of Rs. 20,000 or more (and its repayment) must be made otherwise than in cash, and they shall comply with those provisions; the Borrower's acknowledgement of receipt of the Loan, including by execution of the Promissory Note annexed hereto, shall be conclusive evidence of disbursement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"0d2418e8-b7b4-4289-8813-f440fad4820c","order":23,"text":"The Lender represents that the making of the Loan is in the ordinary and lawful course of its affairs from its own funds, does not constitute the carrying on of banking business, and does not amount to acceptance of a deposit within the meaning of the Companies Act, 2013 or the Reserve Bank of India Act, 1934.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"dabef994-ad76-4e34-8663-404407b7ada3","order":24,"text":"4. INTEREST","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"sectionNum":"S04"},{"id":"83ada285-8c82-44f3-af9d-c62c3b5357af","order":25,"text":"The Loan shall carry simple interest at the rate of [Rate]% per annum, calculated on the outstanding principal from (and including) the date of disbursement until (but excluding) the date of repayment in full, on the basis of the actual number of days elapsed and a year of three hundred and sixty-five (365) days. Interest shall not be compounded. The rate is fixed by mutual agreement and the Borrower confirms, having had the opportunity to take independent advice, that it is fair, reasonable and not excessive, usurious or in the nature of a penalty within the meaning of applicable law, including the principles governing stipulated sums under the Indian Contract Act, 1872.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"e64202b0-1a16-4160-82a5-2b3d459b90ef","value":"interest-free","type":"remove","operator":"="}]},{"id":"11f61451-e8b2-4939-85fe-d230b66fcabd","order":26,"text":"The Loan is advanced free of interest. No interest shall be payable on the principal so long as the Borrower is not in default; upon the occurrence of an Event of Default, default interest and the other consequences set out in the clause headed Consequences of Default shall nonetheless apply.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"e64202b0-1a16-4160-82a5-2b3d459b90ef","value":"interest-bearing","type":"remove","operator":"="}]},{"id":"0c47c347-1dd6-4484-8685-f4e06882a5e0","order":27,"text":"5. REPAYMENT","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"sectionNum":"S05"},{"id":"418bfe42-3f2a-4eb5-ad10-d1d0ce26f8be","order":28,"text":"The Borrower shall repay the entire principal sum of the Loan, together with all interest accrued thereon, to the Lender in a single payment on or before [Repayment date], in immediately available funds and without any deduction, set-off or counterclaim whatsoever (save for any deduction required by law).","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"112a0d04-d845-4dd0-ba76-ab9d1d017220","value":"lump","type":"add","operator":"="}]},{"id":"01728879-4ce7-4a10-b13f-c4768591bf0c","order":29,"text":"The Borrower shall repay the Loan together with interest by [Number of instalments] equal monthly instalments of Rs. [Instalment amount]/- each. The first instalment shall fall due on [First instalment date], and each subsequent instalment shall fall due on the [Day] day of every succeeding month until the Loan together with all interest is repaid in full. Each instalment shall be applied first towards costs, then towards accrued interest and finally towards principal.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"112a0d04-d845-4dd0-ba76-ab9d1d017220","value":"emi","type":"add","operator":"="}]},{"id":"07e51fda-77b6-4336-b0e9-5f532199ee4d","order":30,"text":"The Borrower shall pay interest on the Loan [Interest frequency] in arrears and shall repay the entire principal sum in one bullet payment on the maturity date, being [Maturity date], together with any interest then accrued and unpaid.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"112a0d04-d845-4dd0-ba76-ab9d1d017220","value":"bullet","type":"add","operator":"="}]},{"id":"d562e569-c3c8-4eb7-9c37-3dcf39a3dc50","order":31,"text":"All payments shall be made to the Lender at the address or bank account notified by the Lender in writing, and shall be deemed made only upon clear and unconditional receipt by the Lender. If any Due Date is not a Business Day, payment shall be made on the immediately preceding Business Day. Time shall be of the essence in respect of every payment obligation under this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"a37f9a32-e2d1-4817-a583-653788085c03","order":32,"text":"6. PREPAYMENT","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"sectionNum":"S06"},{"id":"5b4a912f-425e-417c-8043-d87560997dc4","order":33,"text":"The Borrower may prepay the whole or any part of the Outstanding Amount at any time without premium or penalty, upon prior written notice to the Lender. Any partial prepayment shall be applied first towards accrued interest and costs and thereafter in reducing the outstanding principal, and shall not relieve the Borrower from making subsequent payments as they fall due until the Loan is discharged in full.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"a41c3dd1-de7b-4703-bcfb-a6c027ec8c0d","order":34,"text":"7. JOINT AND SEVERAL LIABILITY","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"a6d1d6ce-dbe3-4449-8635-6ffc9a122970","value":"joint","type":"add","operator":"="}],"sectionNum":"S07"},{"id":"5aabe9b0-9a29-4511-9855-b2a8963d271a","order":35,"text":"Where the Borrower comprises two or more persons, each of them shall be jointly and severally liable for all obligations of the Borrower under this Agreement and the Promissory Note. The Lender may proceed against any one or more of them, for the whole of the Outstanding Amount, without first proceeding against the others, and any release, time or indulgence granted to one shall not discharge the liability of the others. Each such person confirms that the Loan is taken for the common benefit of all the co-borrowers.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"a6d1d6ce-dbe3-4449-8635-6ffc9a122970","value":"joint","type":"add","operator":"="}]},{"id":"c371556d-3f5e-4216-b3e8-bf79933e7a53","order":36,"text":"8. SECURITY","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"6d674205-c42c-49c1-9e28-f4bca5f247ed","value":"surety","type":"add","operator":"="},{"field":"6d674205-c42c-49c1-9e28-f4bca5f247ed","value":"collateral","type":"add","operator":"="},{"field":"6d674205-c42c-49c1-9e28-f4bca5f247ed","value":"pdc","type":"add","operator":"="}],"sectionNum":"S08"},{"id":"688a1e84-5d90-4dde-92d2-0e7d42102619","order":37,"text":"As security for the due repayment of the Loan, [Surety name], residing at [Surety address], PAN [Surety PAN] (the "Surety"), has agreed to stand as surety and, by signing this Agreement, unconditionally and irrevocably guarantees to the Lender the due and punctual payment of the Outstanding Amount. The liability of the Surety shall be joint and several with that of the Borrower and shall be that of a principal debtor, in accordance with Sections 126 to 147 of the Indian Contract Act, 1872. The Lender shall not be bound to exhaust its remedies against the Borrower before proceeding against the Surety. The guarantee is a continuing guarantee, shall not be discharged by any variation of this Agreement, any time, indulgence or composition granted to the Borrower, or any other act, omission or thing that would otherwise discharge a surety under Sections 133 to 139 of the Indian Contract Act, 1872, all of which the Surety hereby waives to the extent permitted by law.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"6d674205-c42c-49c1-9e28-f4bca5f247ed","value":"surety","type":"add","operator":"="}]},{"id":"ce9d6202-a115-4e41-94de-9f7e5b0991cb","order":38,"text":"As further security, the Borrower hereby creates a charge in favour of the Lender over the following property/assets: [Description of collateral] (the "Secured Assets"). The Borrower shall not sell, transfer, encumber or otherwise deal with the Secured Assets without the prior written consent of the Lender, and shall, if required, execute such further documents and effect such registration/filing (including under the Companies Act, 2013 and applicable registration laws where applicable) as may be necessary to perfect the security.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"6d674205-c42c-49c1-9e28-f4bca5f247ed","value":"collateral","type":"add","operator":"="}]},{"id":"f8175436-75d1-467e-9479-d29b9f375606","order":39,"text":"By way of additional comfort, the Borrower has handed over to the Lender [Number of cheques] post-dated cheque(s) drawn in favour of the Lender towards the amounts payable hereunder. The Borrower acknowledges that dishonour of any such cheque for insufficiency of funds or otherwise shall attract the consequences provided under Sections 138 to 142 of the Negotiable Instruments Act, 1881, including criminal liability, and the same shall be without prejudice to the Lender's other rights under this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"6d674205-c42c-49c1-9e28-f4bca5f247ed","value":"pdc","type":"add","operator":"="}]},{"id":"b9fb6fb0-ece4-4b55-baf3-62a7abc4343d","order":40,"text":"9. REPRESENTATIONS AND WARRANTIES","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"sectionNum":"S09"},{"id":"0901b740-be0b-43da-aac5-55591a9d3fc0","order":41,"text":"The Borrower represents and warrants to the Lender that: (a) the Borrower has full power, capacity and authority to enter into and perform this Agreement and the Promissory Note and, where the Borrower is an entity, has obtained all necessary corporate authorisations; (b) this Agreement and the Promissory Note constitute legal, valid and binding obligations enforceable against the Borrower; (c) the execution and performance hereof do not contravene any law, order or agreement binding on the Borrower; (d) no insolvency or winding-up proceeding has been commenced or threatened against the Borrower; and (e) all information furnished to the Lender is true, complete and not misleading in any material respect.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"79e83681-8b90-4269-8225-c7658ad53273","order":42,"text":"10. COVENANTS OF THE BORROWER","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"sectionNum":"S10"},{"id":"6841854d-decf-4c1f-9b4d-84053c58b168","order":43,"text":"The Borrower covenants that it shall: (a) apply the Loan only for the stated purpose and otherwise only for lawful purposes; (b) promptly notify the Lender of any event which constitutes, or with the lapse of time may constitute, an Event of Default; (c) maintain its legal existence and, where the Borrower is an entity, comply with all applicable corporate and regulatory requirements; (d) keep the Lender informed of any change in its address, contact details or financial condition; and (e) not create any further encumbrance ranking ahead of the Lender over any asset offered as security hereunder without the Lender's prior written consent.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"5b5ea518-2c56-4180-9f72-ed308c73c4ee","order":44,"text":"11. EVENTS OF DEFAULT","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"sectionNum":"S11"},{"id":"2b92845a-bed5-41fe-a190-6fae54bd0639","order":45,"text":"Each of the following shall constitute an "Event of Default": (a) the Borrower fails to pay any sum on its Due Date; (b) the Borrower breaches any other obligation hereunder and, if capable of remedy, fails to remedy the same within the cure period stated in the clause headed Consequences of Default; (c) any representation or warranty proves to have been incorrect or misleading when made; (d) any cheque issued by the Borrower is dishonoured; (e) the Borrower becomes insolvent, or any insolvency, bankruptcy or winding-up proceeding is initiated against the Borrower, including under the Insolvency and Bankruptcy Code, 2016; or (f) the Borrower dies or, being an entity, is dissolved.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"5a762b1f-87b1-4686-9f59-49b4a50dd26c","order":46,"text":"12. CONSEQUENCES OF DEFAULT","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"sectionNum":"S12"},{"id":"83b2a825-b1b3-4c10-8813-4e437bee0c20","order":47,"text":"Upon the occurrence of an Event of Default which (where capable of remedy) is not remedied within [Cure period] days of written notice from the Lender, the Lender may, by notice in writing, declare the entire Outstanding Amount to be immediately due and payable, whereupon the same shall become immediately due and payable without further demand.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"bfd55752-8418-44a4-a9c0-a4b35efb9d45","order":48,"text":"On and from the date of default, the Outstanding Amount shall carry default interest at the rate of [Default rate]% per annum until actual realisation. The Borrower shall further indemnify the Lender against all reasonable costs, charges and expenses (including legal costs on a full indemnity basis) incurred in enforcing or attempting to enforce its rights hereunder. The Parties agree that such default interest and indemnity represent a genuine pre-estimate of loss and not a penalty.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"2f9e9bfc-6b8e-46f2-93ab-07378af4d58e","order":49,"text":"The rights and remedies of the Lender under this Agreement are cumulative and in addition to, and not in derogation of, any rights or remedies available at law, including under the Negotiable Instruments Act, 1881 in respect of the Promissory Note.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"13f8cc4d-7bb2-48df-9d84-3ebf3dd28bdc","order":50,"text":"13. SET-OFF","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"sectionNum":"S13"},{"id":"f7cc58c0-1774-4e2f-a0d3-cc9ec69fe3df","order":51,"text":"The Lender may, at any time after an Event of Default, without prior notice, set off any matured obligation owed by the Borrower against any obligation owed by the Lender to the Borrower, regardless of the place of payment or currency. The Borrower shall make all payments under this Agreement free and clear of, and without set-off, counterclaim or deduction, except as required by law.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"9ab4e6e0-6e20-400b-93cb-3c4500b0432a","order":52,"text":"14. COSTS, STAMP DUTY AND TAXES","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"sectionNum":"S14"},{"id":"61f02b96-28f4-4f28-abbf-89e4b5fb80d6","order":53,"text":"This Agreement and the Promissory Note annexed hereto shall be duly stamped in accordance with the Indian Stamp Act, 1899 as applicable in the State of [State] (or the relevant State Stamp Act), and the Borrower shall bear all stamp duty, registration charges and related costs (if any) payable thereon, including in respect of every counterpart required to be stamped. If interest is payable, the Borrower (where required by law) shall deduct tax at source on such interest under the provisions of the Income-tax Act, 1961 relating to tax deduction on interest, deposit the same with the authorities and furnish the Lender with the relevant certificate; any goods and services tax or other levy applicable on charges shall be borne by the Borrower.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"ec8b1cdd-b553-411a-96b7-2c0d7bd2175f","order":54,"text":"15. FORCE MAJEURE","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"8","cflou":false,"active":true,"sectionNum":"S15"},{"id":"4cb3d6d1-9db4-4269-ac81-5df380d37789","order":55,"text":"Neither Party shall be liable for any delay or failure to perform any obligation (other than an obligation to pay money) caused by an event beyond its reasonable control, including act of God, flood, fire, epidemic or pandemic, war, civil disturbance, or action of any governmental authority. The affected Party shall notify the other promptly and use reasonable efforts to mitigate the effect of such event. For the avoidance of doubt, force majeure shall not excuse or postpone the Borrower's obligation to repay the Outstanding Amount.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"b94ede53-cd2a-443f-8bb6-f59cae4e4c03","order":56,"text":"16. 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