General Terms and Conditions of Avil Credit Card

CREDIT LINE GENERAL TERMS AND CONDITIONS

INTRODUCTION

The Borrower is informed as follows:

The Borrower (hereinafter defined) are requested to read these Credit Line general terms and conditions carefully.
The Credit Line (hereinafter defined) from Lender(s) (hereinafter defined) shall be strictly subject to these Terms (hereinafter defined).
The Credit Line and Drawdown (hereinafter defined) is at the sole discretion of the Lender(s).
Anything contained in these Terms or any communications inter-se will be strictly subject to and without prejudice to the prerogative of the Lender(s) mentioned aforesaid and the other Credit Line Finance Parties (hereinafter defined).
Avil Terms (hereinafter defined) shall form an integral part of these Terms herein contained. It shall be deemed that the Borrower confirms and accept to such terms by accepting these Terms and/or by availing the Credit Limits or any services from the Credit Line Finance Parties.
Submitting a Credit Line Application Form (hereinafter defined) does not entitle the Borrower to be eligible for sanction of Credit Line.
The details represented by the Borrower to Credit Line Finance Parties will form the basis of approval of the Credit Line by the Lender(s).
The Lender(s), at its sole discretion, will determine the Credit Line, which can be granted.
Details of the approved Credit Line (including any variations) (increase or decrease or other terms and conditions) will be communicated to the Borrower through Avil Platform (as defined below), and such other means as the Credit Line Finance Parties may decide from time to time.
Acceptance of these Terms shall constitute a valid and binding legal contract between the Borrower and the Credit Line Finance Parties (hereinafter defined).
These Terms may be varied (as required by the Credit Line Finance Parties), the Borrower is therefore requested to be updated, and any such changes will be applied prospectively.
Further, these Terms, when electronically generated, are an electronic record under the provisions of the Information Technology Act, 2000.
While applying for a Credit Line, the Borrower shall be deemed to have electronically accepted to these Terms and the Avil Terms, and the same shall be binding on the Borrower.

If you need any clarifications, please visit us at www.Avil.com/contact-us and/or through the relevant link in "Avil Platform") and go through the illustrations/demonstrations.
We will be available for services from 10 AM to 5 PM, Monday to Friday (excluding public holidays).

DEFINITIONS

Capitalized terms used in these Terms are defined below:

"Availability Period" shall mean the period within which the Borrower can request a Drawdown from the Credit Line and shall be as detailed in the Credit Line Sanction Terms. The Availability Period may be extended at the sole discretion of the Lender(s).
"Available Credit Line" means at any point of time the undrawn amount of the Credit Line available to a Borrower (including any amount of the Credit Line, which becomes available pursuant to any repayment or prepayment of all or part of any previous Drawdown provided the Lender(s) has/have granted a revolving Credit Line).
"Borrower" means any person who has expressed interest in applying for a Credit Line by submitting a Credit Line Application.
"Borrower's Dues" means all sums payable by the Borrower to the Credit Line Finance Parties, including outstanding Credit Line, Interest, all other charges, costs, and expenses.
"Business Day" means normal working hours on a day on which scheduled banks are open for business in New Delhi.
"Credit Line" means the maximum drawdown limit for loan/credit facility granted by the Lender(s) to the Borrower as per Credit Line Sanction Terms, Credit Line Details Sheet, and other Financing Documents.
"Credit Line Application" means the application in the prescribed form submitted by the Borrower to the Credit Line Finance Parties through Avil Platform for Credit Line for seeking the sanction of Credit Line from the Lender(s).
"Credit Line Details Sheet" means documents submitted by the Borrower to the Lender(s) and other Credit Line Finance Parties as complete, irrevocable acceptance to the Credit Line Sanction Terms (hereinafter defined) for availing loan/credit facility as mentioned there from the Lender(s).
“Credit Line Finance Parties” means and includes each of the Lender, EQX, and or service providers of Lender(s)/EQX provided such service providers are so designated by the Lender(s)/EQX for the specific purpose.
"Credit Line Sanction Terms" means communication from the Lender(s) through Avil Platform to the Borrower with the details of the Lender(s) who have sanctioned the grant of the Credit Line for availing loan/credit facility by the Borrower, and respective Credit Line terms approved by each Lender(s), the Credit Terms and other terms applicable for availing the sanctioned Credit Line by the Borrower.
"Credit Terms" are terms that will apply to a Credit Line. The same will be as communicated by the Credit Line Finance Parties through Avil Platform or otherwise and may include the following:
1. Interest Rate (if applicable)
2. IRR (if applicable)
3. Overdue Interest Rate
4. Processing Fee
5. Documentation Charges
6. Default Charges
7. Repayment Instrument swapping charges
8. Fee for change of Due Date
9. Indicative purposes for which the Borrower can make Drawdown'
10. Schedule of Charges (may include charges forming part of the Financing Documents, Credit Terms or other fees for specific services on Avil Platform or by the Lender(s))
11. Terms specific to Lender(s)

The Credit Terms are variable as decided by the Credit Line Finance Parties, and variations will be available on the web link at www.Avil.com in the Avil Platform. Any such alterations will be effective prospectively.

On each occasion, when the Borrower submits the Credit Line Details Sheet and/or during each instance of Drawdown and/or by using the Avil Platform, it shall be deemed that the Borrower confirms to the Credit Terms and its variations.

"Demand Notice" shall mean notice or intimations send to the Borrower by the Credit Line Finance Parties seeking accelerated repayment of the Credit Line availed by the Borrower by way of any of the following:
1. Email and/or to Borrower's account in the Avil Platform;
2. Through SMS or WhatsApp to Borrower's registered mobile number;
3. Through voice mail to Borrower;
4. Through the mail (courier or through Indian postal services);
5. Any other electronic means including that by notification given in the User ID of the Borrower in the Avil Platform;
6. Such other means deemed fit by the Credit Line Finance Parties.

In case there are multiple Borrowers, such notice issued to a Borrower shall be deemed to be issued and served on all the Borrowers.

"Drawdown" shall mean each Drawdown of the Credit Line within the Availability Period and as per the terms of the Financing Documents. By availing the Drawdown, it shall be deemed that the Borrower confirms and accept each of the Avil Terms and the Financing Documents.
"Due Date" in respect of any payment means the date on which any amount is due from the Borrower to the Lender(s) or the other Credit Line Finance Parties.
"EMI" means the equated monthly amount to be paid by the Borrower towards repayment of all outstanding Drawdowns and payment of Interest (if applicable) as per Financing Documents.
"EQX" means EQX Analytics Private Limited, a company under the provisions of the Companies Act, 2013, which will act as the Lender's Agent for the Lender(s) in relation to the Credit Line as per these Terms. Notwithstanding anything mentioned to the contrary in these presents, EQX may perform any other business as may be permitted by law.
"Financing Documents" means and include the following (unless waived by the Credit Line Finance Parties):
1. These Terms
2. Each of the Avil Terms
3. Credit Terms
4. Credit Line Application Form
5. Credit Line Sanction Terms
6. Demand Promissory Note (if any executed by the Borrower)
7. Credit Line Details Sheet
8. Payment undertaking (if any executed by the Borrower)
9. Acknowledgment
10. Any documents/terms and conditions executed/accepted by the Borrower as required by the Credit Line Finance Parties.
11. Annexures and/or amendment and/or addendum to any of the above documents executed/accepted with the concurrence of the Credit Line Finance Parties.
"Lender(s)" means Lender(s) whose name is referred/referenced in the Credit Line Sanction Terms, Credit Line Details Sheet, other Financing Documents and has sanctioned a Credit Line as per terms hereof. To find details of the partner Lender(s) to Avil, refer to the web link www.Avil.com or on the Avil Platform.
"Lender’s Agent" means EQX and Person(s) authorized by the Lender(s) from time to time for acting on their behalf which includes but not limited to collection of documents from the Borrower, verification of details, sending a reminder for repayments, issuing notices, instructing lawyers, site visits, monitoring utilization of amounts drawn, representing in courts and legal proceedings and acting on their behalf, bureau reporting, reporting to other repositories, doing any acts per law to enforce any legal right or remedy of the Lender(s) and/or any acts as per these Terms by virtue of being a Credit Line Finance Party.
“Material Adverse Effect” means any event which in the opinion of the Credit Line Finance Parties would have an adverse effect on:
1. Borrower’s ability to pay the Borrower’s Dues;
2. Recoverability of the Borrower’s Dues;
3. Initiation of any insolvency or bankruptcy proceedings on the Borrower or Borrower’s business or Borrower’s employer;
4. Initiation of any litigation or regulatory or investigative proceedings against the Borrower which in the opinion of the Credit Line Finance Parties affects the performance of any Obligation of the Borrower;
5. The Borrower turns to non-responsive or is avoiding efforts of Credit Line Finance Parties to contact;
“Obligation” means and include Borrower’s responsibility and liability towards the Lender(s) under the terms of Financing Documents which includes but is not limited to, pay amounts when due (including but not limited to paying the Processing Fee, reimburse Documentation Charges, stamp duty, legal expenses and other charges (including that in the schedule of charges as given in the Avil Platform)), pay any debts, principal, Interest Rate, Default Rate/Over Due Interest, expenses and other amounts which the Borrower owes to the Lender(s) now or later or to comply with such other terms and conditions, undertaking or documents, contract executed by the Borrower to avail the Credit Line or other loan from the Lender(s) or to or comply with any terms of the Financing Documents.
“Overdue Interest Rate” means the default interest as prescribed in the Credit Line Sanction Terms, Credit Line Details Sheet, other Financing Documents, which is payable by the Borrower on all amounts which are not paid on their respective Due Dates.
“Repayment Instrument” means to include instruments inter alia Post Dated Cheques (“PDC”), Undated Cheques (“UDC”), Whole Amount Cheques (“WAC”), (collectively, “Cheques”) or Electronic Clearing Service (“ECS”) mandates or Standing Instructions (“SI”) or National Automated Clearing House Mandate (“NACH”), Electronic Instructions, Payment Instruments, Payment Instructions, Debit Instructions and/or such other instruments as may be prescribed by the Lender(s) and issued by the Borrower for facilitating repayments of the Credit Line.
“Avil Platform” means a designated office of EQX (or its service providers) or the website www.Avil.com and Avil mobile App and internet and technology-based platform which can be downloaded and used by the Borrowers:
1. As per terms of use for the same;
2. To apply for Credit Line or for Drawdown of Credit Line (as may be applicable);
3. To use the same in such manner as permitted by the Avil Platform from time to time.
“Avil Terms” means and include, those in Avil Platform for the following:
1. General terms & conditions for the use of Avil Platform
2. Privacy policy of Avil Platform
3. End-user terms for Avil User ID
4. Terms of other service providers as provided in Avil Platform
5. These Terms
6. Credit Terms
7. Other terms, general disclaimers, etc.
“Terms” means these Credit Line General Terms and Conditions and documents referred here as may be modified and updated.
“User ID" means the unique identity of the Borrower, which is created and used by the Borrower to access the Avil Platform for availing the Credit Line from the Lender(s) and/or availing any services from the Credit Line Finance Parties. The User ID shall be subject to Avil Terms and Financing Documents.

In this Terms, unless the context otherwise requires:

the words importing singular shall include the plural and vice versa.
The words denoting natural persons shall, where the context admits, include partnerships, firms, companies, corporations, associations, organizations, or other entities (whether or not having a separate entity).

GENERAL DISCLAIMER

EQX ANALYTICS PRIVATE LIMITED IS:

NOT A FINANCIAL INSTITUTION OR A NON-BANKING FINANCIAL SERVICES COMPANY AND THEREFORE SHALL NOT BE PROVIDING ANY FINANCIAL SERVICES OR CREDIT FACILITIES.
IT IS ACTING AS A LENDER’S AGENT AND ALSO OFFER INTERNET-BASED TECHNOLOGY SUPPORT AS FOUND IN THE Avil WEBSITE (WITHOUT ANY WARRANTIES) FOR FACILITATING BORROWING PROCESS MORE TECHNOLOGY BASED.
THE LENDER(S) MAY HAVE THEIR TERMS AND CONDITIONS OVER AND ABOVE Avil TERMS AND ALSO SHALL BE THE PERSON WHO HAS/HAVE THE SOLE DISCRETIONARY AUTHORITY TO GRANT OR REJECT A CREDIT LINE APPLICATION FORM OR PERMIT A DRAWDOWN FROM THE CREDIT LINE.

CREDIT LINE

The terms of the Credit Line approved to a Borrower will be subject to the Terms hereof and as per the Credit Line Sanction Terms, Credit Line Details Sheet, other Financing Documents, and Avil Terms.
Any use of the Credit Line by the Borrower or any request to avail of Credit Line shall be subject to applicable law, the purpose for which a Borrower seeks Drawdown shall not contravene the law or public policy, and the Borrower shall ensure the same without fail.
The Credit Line may be in the nature of revolving credit or nonrevolving nature, as per the discretion of the Lender(s).
In the case of a Revolving Credit Line, the Available Credit Line Amount may change during the Availability Period on account of prepayments/ repayments of earlier Drawdowns.
For a Credit Line to be revolving in nature, the same has to be mentioned explicitly in the respective Credit Line Sanction Terms and the Credit Line Details Sheet.
If the Credit Line is not revolving as per Credit Line Sanction Terms and the Credit Line Details Sheet, the Borrower will not be permitted to re-borrow the amount repaid as part of the same Credit Line.
Notwithstanding anything contained in these Terms and the Financing Documents, the Lender(s) shall have the absolute right to cancel or refuse any further Drawdown from the Credit Line at their discretion as it may deem fit, including on account of any change in credit evaluation of the Borrower.
Subject to these Terms and the Financing Documents, the Credit Line shall be available for Drawdown during the Availability Period Only.
The Borrower shall execute all documents and amendments and cooperate as required by the Credit Line Finance Parties from time to time:

To comply with any RBI guidelines/directives, or
For providing the Lender(s) and other Credit Line Finance Parties full benefit of rights under the Financing Documents and Avil Terms.
Without prejudice to the aforesaid, the Borrower hereby irrevocably consents that on its failure to do so, all such documents and amendments and terms of cooperation as required by the Credit Line Finance Parties from time to time shall be deemed to be incorporated in the Financing Documents and/or Avil Terms and shall be binding on the Borrower.

DISBURSEMENT

At any time during the Availability Period, the Borrower may request disbursement of any amount to the extent of the available Credit Line.
The Lender(s) shall have the sole and absolute discretion to allow or reject Drawdown against such request. The other Credit Line Financing Parties may also, at their discretion, may request the Lender(s) to deny any Drawdown request for reasons deemed fit by them.
Details of the Lender(s) extending the Credit Line and/or permitting the Drawdown towards the Credit Line will be available to the Borrower in Borrower’s User ID on the Avil Platform.
Disbursement of any Drawdown directly to a third party, as mentioned in the Credit Line Sanction Terms and Credit Line Details Sheet, shall be treated as having been disbursed to the Borrower.
The Borrower shall pay non-refundable processing charges and documentation charges as stated in the Credit Line Sanction Terms, Credit Line Details Sheet, Credit Terms (including the schedule of charges) and other Financing Documents, along with goods and services tax (“GST”) thereof, which may be added as a deemed Drawdown from the Credit Line by the Borrower.
The Borrower will accordingly be liable for the entire Drawdown, including the amount towards the charges as aforesaid and as stated in the Credit Line Sanction Terms, Credit Line Details Sheet, Credit Terms (including the schedule of charges) and other Financing Documents, along with GST thereof and Interest (if any) thereon.
The Borrower acknowledges that the Loan, if approved can be granted by Akara Capital Advisors Private Limited or other lenders and mode of disbursement can be through SBM Bank India Limited, NSDL Payments Bank Limited or any other RBI approved payment platform/mechanism.

AUTHORITY TO CHARGE

The Borrower hereby unconditionally and irrevocably authorize the Credit Line Finance Parties to charge from the Credit Line, the amount due to it from the Borrower under the following heads (as may be applicable as per terms of the Financing Documents and Avil Terms):

Processing Fee;
Documentation Charges;
Charges as per the Credit Terms (including those in the Schedule of Charges);
Other charges inter alia legal expenses and collection charges and any other charges as may be incurred by the Credit Line Finance Parties (as the case may be applicable).

The charges shall form as an admitted liability of the Borrower and shall be payable by the Borrower.
The Credit Line Finance Parties shall also be entitled to debit the Credit Line.

INTEREST AND REPAYMENT

The Borrower shall pay Interest (as applicable) on each Drawdown made by the Borrower from the Credit Line, and all other amounts due (as provided in Financing Documents and Avil Terms). The Interest shall be computed on a monthly basis on the outstanding principal amount.
The Borrower will be responsible and liable to repay the entire Drawdown amount and shall pay the full amount for each Drawdown together with the Interest and other charges (as provided in Financing Documents and Avil Terms).
In cases, where the installment is not paid on the Due Date, all overdue amounts shall accrue Interest at the prescribed Overdue Interest Rate, which shall be computed from the respective Due Dates for payments, and the interest shall be compounded on a monthly basis.
The Borrower acknowledges that in case of identified purpose, Drawdown may be allowed on the zero-interest basis (as provided in Financing Documents and Avil Terms) and in such cases, the return shall be made available to the Lender(s) and/or other Credit Line Finance Parties by way of one-time non-refundable upfront discount provided by the vendor on selected purposes as mutually accepted between the Lender(s) and/or other Credit Line Finance Parties and vendor / its authorized representative.
The Borrower’s Obligation towards repayment by way of EMI (as provided in Financing Documents and Avil Terms) shall be as calculated by the Lender(s) as required for amortization of Drawdowns within their respective tenure and Interest payable thereon.
The Borrower confirms their understanding that the EMI schedule given by the Credit Line Finance Parties shall only be towards principal outstanding and Interest thereon and does not include any default interest or any other charges payable by the Borrower pursuant to Financing Documents. The Over Due Interest and other charges (as provided in Financing Documents and Avil Terms) will be over and above the EMI.
The payment of each EMI and other charges (as provided in Financing Documents and Avil Terms) on time is the essence of the contract between the Borrower and the Credit Line Finance Parties.
The Borrower acknowledges that s/he has understood the method of computation of EMI and shall not dispute the same.
Notwithstanding anything to the contrary, all Borrower’s Dues, including EMI or other charges (as provided in Financing Documents and Avil Terms), shall be payable by the Borrower to the Credit Line Finance Parties as and when demanded by the Credit Line Finance Parties, at their discretion and without the requirement of any reason being assigned. The Borrower shall pay such amounts, without any delay or demur, within fifteen (15) days of such demand.
The Lender(s) and other Credit Line Finance Parties shall be entitled to revise the rate of Interest if required under any applicable law. The Lender(s) and other Credit Line Finance Parties may also re-compute the EMI / the number of EMI for repayment of outstanding Credit Line and Interest.
Any such change as intimated by the Credit Line Finance Parties to the Borrower will be final and binding on the Borrower. In case of such revision, the Borrower shall be entitled to prepay within thirty (30) days of such revision, the entire outstanding Credit Line along with accrued Interest and charges (as provided in Financing Documents and Avil Terms).
In case of delayed payments, without prejudice to all other rights of the Lender(s) and other Credit Line Finance Parties, the Lender(s) and other Credit Line Finance Parties shall be entitled to Overdue Interest Rate and charges (as provided in Financing Documents and Avil Terms) from the Borrower for the period of delay.
The Borrower may prepay any Drawdown before its scheduled tenure only with the prior approval of Lender(s) and other Credit Line Finance Parties and subject to such conditions and prepayment charges, as provided in Financing Documents and Avil Terms.
The Borrower shall bear all interest, tax, duties, cess and other forms of taxes including without limitation GST, value-added taxes, whether applicable now or in the future, payable under any law at any time in respect of any payments made to the Credit Line Finance Parties under the Financing Documents and Avil Terms. If such payments are incurred by the Credit Line Finance Parties, the same shall be recoverable from the Borrower and will carry interest at the rate of Overdue Interest Rate from the date of payment till reimbursement.
The amounts repaid by the Borrower shall be appropriated firstly towards the cost, charges, expenses, and other monies, secondly towards Overdue Interest Rate, if any, thirdly towards Interest, and lastly towards repayment of the principal amount of a Credit Line. Notwithstanding anything contained herein, the Lender(s) and other Credit Line Finance Parties shall be entitled to adjust any advance monthly installment and/or security deposit/initial payment made by the Borrower towards any Borrower's Dues in such manner and at such time as the Lender(s) and other Credit Line Finance Parties may determine in their sole discretion.
Interest (as applicable), Overdue Interest Rate, and all other charges shall accrue from day to day and shall be computed on the basis of 365 days a year, and the actual number of days elapsed.
If the due date for any payment is not a Business Day, the amount will be paid by Borrower on the immediately preceding Business Day.
All sums payable by the Borrower to the Lender(s) and other Credit Line Finance Parties (unless specifically) shall be paid without any deductions whatsoever. Credit/ discharge for payment will be given only on the realization of amounts due.
The Borrower acknowledges that the rate of interest, penal charges, service charges, and other charges payable and or accepted to be paid by the Borrower under Financing Documents are reasonable and acceptable to him/ her.

MODE OF PAYMENT, REPAYMENT, AND PREPAYMENT

As required by the Lender(s) and other Credit Line Finance Parties from time to time, the Borrower shall provide Repayment Instruments for payment of Borrower’s Dues. The Borrower shall honor all payments without fail on the first presentation of Repayment Instruments on each Due Dates.
The Repayment Instruments provided by the Borrower may be utilized by the Lender(s) and other Credit Line Finance Parties to realize any Borrower’s Dues.
The Borrower hereby unconditionally and irrevocably authorizes the Lender(s) and other Credit Line Finance Parties to take all actions required for such realization.
The Borrower shall promptly (and in any event within seven (7) days) replace Repayments Instrument and/or other documents executed for payment of Borrower’s Dues as may be required by the Lender(s) and other Credit Line Finance Parties from time to time at their absolute discretion.
The Borrower shall at all times maintain sufficient funds in his/her/their bank account/s for the due payment of the Borrower’s Dues on respective Due Dates.
The Borrower shall not close the bank account/s from which the Repayment Instruments have been issued or cancel or issues instructions to the bank or to the Lender(s) and other Credit Line Finance Parties to stop or delay payment under the Repayment Instruments, and the Lender(s) and other Credit Line Finance Parties are not bound to take notice of any such communication.
The Borrower confirms and understands that the Lender(s) and other Credit Line Finance Parties at their discretion may retain the Credit Line Application Form, the photographs, information, and documents submitted by the Borrower.
The Borrower also confirms that the Lender(s) and other Credit Line Finance Parties shall have all right to retain such documents for its internal records as per document retention policies adopted by the Lender(s) and other Credit Line Finance Parties.
The Borrower confirms and acknowledges that the Repayment Instruments have been issued voluntarily in the discharge of the Borrower’s Dues and not by way of security for any purpose whatsoever.
The Borrower shall be liable to pay dishonor charges for each Repayment Instrument dishonor (as prescribed in the Financing Documents and Avil Terms).
Any dispute or difference of any nature whatsoever shall not entitle the Borrower to withhold or delay payment of any EMIs or other sum, and the Lender(s) and other Credit Line Finance Parties shall be entitled to present the Repayment Instruments on the respective Due Dates.
Notwithstanding the issuance of Repayment Instruments, the Borrower will be solely responsible for ensuring timely payment of dues.
After due discharge of all the Obligations of the Borrower, the Lender(s) and other Credit Line Finance Parties shall have the right to destroy the same, as it may deem fit and proper subject to its document retention policy. The Borrower shall not have any right to demand the return of any documents.

BORROWER’S COVENANTS, REPRESENTATIONS, AND WARRANTIES

The Borrower undertakes/ confirm that they shall:

Observe and perform all its Obligations (including payment of Borrower’s Dues) under the Financing Documents and Avil Terms.
They shall on demand made by the Lender(s) and other Credit Line Finance Parties, pay the amount of any Increased Costs incurred by the Lender(s) and other Credit Line Finance Parties as a result of:
1. The introduction of or any change in (or in the interpretation, administration or application of) any law or regulation, or
2. Compliance with any law or regulation made after the date of grant of the Credit Line. For the purpose of this clause, "Increased Cost" means:
  1. An additional or increased cost;
  2. A reduction in the rate of return from the Credit Line, or
  3. A reduction of an amount due and payable under or in relation to the Credit Line, which is incurred or suffered by the Lender(s) and other Credit Line Finance Parties but only to the extent attributable to the Lender(s) and other Credit Line Finance Parties.
Immediately deliver to the Credit Line Finance Parties all documents/information, including bank account statements, as may be required by the Lender(s) and other Credit Line Finance Parties from time to time.
The Borrower request and authorizes the Credit Line Finance Parties to communicate independently with,
1. Any bank where the Borrower maintains an account and to seek details and statements in respect of such an account from the bank.
2. With any employer of any Borrower as the Credit Line Finance Parties may deem necessary, including for monitoring Borrower’s creditworthiness.
3. Family members, friends, and relatives of the Borrower, and
4. Such other persons as deem fit by the Credit Line Finance Parties.
Immediately notify the Credit Line Finance Parties of any litigations or legal proceedings against the Borrower.
Notify the Credit Line Finance Parties of any Material Adverse Effect or Event of Default.
Notify the Credit Line Finance Parties in writing of all changes in the location/ address of office/ residence /place of business or any change/ resignation/termination/closure of employment/ profession /business.
Comply at all times with applicable laws, including, Prevention of Money Laundering Act, 2002.
Utilize each Drawdown only for lawful and permitted purposes.
The calculation with respect to the EMI, Interest Rate, Default Rate/Borrower’s Due, Processing Fee, Documentation Charges, legal expenses, collection charges, cost, and expenses, etc. shall be binding on the Borrower in the manner calculated by the Lender(s) and other Credit Line Finance Parties.
Further, the Borrower understands and confirm that each Lender and other Credit Line Finance Parties will maintain in accordance with its usual practice, accounts in its books evidencing the amounts from time to time owed to it therein and a certificate in writing signed by an officer of the Lender(s) and other Credit Line Finance Parties stating the amount at any particular time due and payable to the Lender(s) or the other Credit Line Finance Parties shall be conclusive and binding on the Borrower.
That in any legal action or proceeding arising out of or in connection with this contract, the entries made in the accounts maintained pursuant to this contract shall be prima facie evidence of the existence and amounts of the Obligations of the Borrower.
That the Lender(s) and other Credit Line Finance Parties shall be entitled to serve Demand Notice directly or through other Credit Line Finance Parties or other service providers and the amount mentioned in such notice shall be deemed to be admitted liability of the Borrower.
On request of the Credit Line Finance Parties, the Borrower shall intimate and instruct the employer/s of the Borrower to transfer every month from the Borrower' salary/emoluments a specific sum (being the Installments) towards the repayment to the Lender(s) and other Credit Line Finance Parties as per terms of the Financing Documents and other Avil Terms.
The Borrower confirms that the Credit Line Finance Parties shall have the authority to approach the employer/s of the Borrower directly for repayment of installments and/or any other charges/sums due from the Borrower to the Lender(s) and other Credit Line Finance Parties including but not limited to that of the Borrower's Due under Financing Documents and/or the Avil Terms.
The Borrower confirms to the Credit Line Finance Parties that the Credit Line Finance Parties shall be authorized to seek payments towards the Credit Line and other services as per the Financing Documents and/or the Avil Terms from an employer of the Borrower or from any person from whom the Borrower is entitled to receive money (“Entitlement”).
The Borrower confirm that such an employer or the person from whom the Borrower is entitled to receive money shall be entitled to deduct from Borrower’s Entitlements and transfer the said amount to the Credit Line Finance Parties for satisfaction of dues in part or full (as applicable).
The Borrower also confirms that such an employer or the person from whom the Borrower is entitled to receive money is sufficiently notified to honor a request from the Credit Line Finance Parties for transfer of Borrower’s Entitlements in part or full as may be requested by the Credit Line Finance Parties and such persons have confirmed to the same.
That the Borrower irrevocably authorizes the Credit Line Finance Parties to have the first charge on their assets, including amounts lying in their bank accounts, mutual fund, insurance, securities, receivables, etc., to the extent of dues owed by them and for the due performance of their Obligations. The charge on such assets and payment Obligations to the Credit Line Finance Parties shall not be subordinated to the rights of any third person.
That the Borrower declares that they are not an employee or a contractor or relative to any employee or contractor of any of the Credit Line Finance Parties, in case they become an employee or a contractor or relative to any employee or contractor of any of the Credit Line Finance Parties they shall immediately repay the Credit Line. The expression relative shall have the meaning as defined in the Companies Act, 2013.

Each Borrower represents and warrants to each of the Credit Line Finance Parties as under:

All the information provided by Borrower in the Credit Line Application Form and any other document, whether relevant for ascertaining the Borrower's creditworthiness, is true and correct and not misleading in any manner.
The Borrower is capable of and entitled under all applicable laws to execute and perform the Financing Documents and the transactions thereunder.
The Borrower is above 18 years of age, and this contract is a legal, valid, and binding Obligation on him/her, enforceable against him/her in accordance with its terms.
The Borrower declares that any law does not prohibit them from availing this Credit Line.
No event has occurred that shall prejudicially affect the interest of the Credit Line Finance Parties or affect Borrower's financial conditions or affect his/her liability to perform all of their Obligations under the Financing Documents.
The Borrower is not in default of payment of any taxes or government dues.
The Borrower will do all acts, deeds, and things, as required by the Credit Line Finance Parties, to affect these Terms.
No bankruptcy and/or insolvency proceedings have been initiated/are pending against the Borrower.
All the representations and warranties given by the Borrower shall subsist and have a continuing effect at the time of each Drawdown and during the Credit Line's currency.
The Borrower hereby consents that the Credit Line Finance Parties and/or their authorized representative/s may communicate with the Borrower either by phone calls, SMS, electronic mails or through any other mode of communication available for the purpose of discussing the current status of his Credit Line or reminder/ collection of any dues in respect of any Credit Line or for any matter related to the Credit Line and such phone calls, SMS, etc., shall not be covered under the purview of “Do Not Disturb” policy of the Telecom Regulatory Authority of India (TRAI). For this purpose, Borrower hereby grants permission to Credit Line Finance Parties, to contact him any time between 07.00 hours to 21.00 hours from Monday to Sunday.
The Borrower confirms that, in the case of telephone communications (including AVR, SMS, mobile applications, etc.) or online customer portal, as the case may be, the Credit Line Finance Parties may require the Borrower to use/enter a password allotted by the Credit Line Finance Parties to such Borrower or may ask the Borrower questions about himself and about particulars of the Borrower's account(s) including a personal identification number in order to verify the Borrower's identity and/ or may require a call-back procedure, all as deemed appropriate by the Credit Line Finance Parties.
The Borrower is obliged to keep any password and an identification number designated by or provided to him hereunder as confidential, and the Borrower shall be responsible for any consequence that may arise from the use of such a password by any other person. The Credit Line Finance Parties shall not be liable in any manner for access to the Borrower's account by use of the user password by any Person whomsoever.
The Borrower irrevocably and unconditionally consents to Credit Line Finance Parties recording of all the Borrower's electronic communication (e.g., telephone calls, electronic mail, SMS, mobile application or other) and storage of electronic media by Credit Line Finance Parties and accepts such recordings and electronic media as evidence with regard to acceptance of all the terms of the Credit Line including, but not limited to, the grant of the Credit Line or loan, levy of any fee/ charges, Interest Amount over each such Credit Line(s), rate of Interest applicable on each such Credit Line, the period for each such Credit Line borrowed by Borrower and the number/ amount of monthly installment that the Borrower has to pay to Credit Line Finance Parties. The Borrower further accepts that such a record may be used by Credit Line Finance Parties, as evidence in a court of law or any legal proceedings.
The Borrower gives its consent to each of the Credit Line Finance Parties jointly and severally to use/store all the information provided by the Borrower or otherwise procured by the Credit Line Finance Parties in the manner they deem fit including for the purposes of this Credit Line or its business.
The Borrower understands and confirms that the Credit Line Finance Parties may disclose such information to their contractors, agents, and any other third parties.
The Borrower understands and confirms that any promotional schemes and/or contest being initiated by the Credit Line Finance Parties for its customers is independent of these Terms and the Credit Line, and such promotional schemes and/or contests do not constitute any kind of solicitation by the Credit Line Finance Parties. Such promotional schemes and/or contests shall be governed by the terms and conditions in relation thereto, which shall be carefully read by the Borrower in case the Borrower decides to participate in such schemes/contests. Further, the Borrower confirms that the Credit Line Finance Parties shall have the right to withdraw any of the promotional schemes at their sole discretion as per its respective terms.
The Borrower grants consent to the Credit Line Finance Parties to cross-sell its other products and services.
The Borrower understands that their communications with the Credit Line Finance Parties may involve electronic means. The Borrower confirms that it shall be their responsibility to maintain their personal information such as passwords, user id, and such related information confidential to avoid any misuse.
The Borrower confirms that interaction made by them through electronic means such as email, facsimile, SMS text messaging, Avil Platform, online acceptance, etc. shall be legal and binding on the Borrower and the Credit Line Finance Parties shall be entitled to rely on the same. Therefore, the Borrower shall take adequate care while using the Avil Platform or while giving instructions through the Avil Platform through any electronic means.

INSURANCE

The Credit Line Finance Parties may at its own discretion and upon Borrower's request, also finance the Borrower for the insurance premium of insurance policy taken by Borrower as per Borrower's own wish from any insurance company of Borrower's choice, which sum(s) shall be added to the principal amount under the Credit Line and all the terms and conditions shall be additionally applicable thereto.
All expenses, charges, fees, taxes, etc. as applicable on any such insurance shall be incurred and paid by the Borrower, however, in case paid by the Credit Line Finance Parties on Borrower's behalf, the Borrower shall reimburse the same to the Credit Line Finance Parties (as applicable) within 24 hours of the request made by the respective Credit Line Finance Party.
The Borrower shall instruct the insurance company to add the Credit Line Finance Parties (as applicable) as loss payee in any such insurance policy and hand over a copy of the same in the manner required by the Credit Line Finance Parties (as applicable).

EVENTS OF DEFAULTS

The following acts/events, as set out below, shall each constitute an “Event of Default” by the Borrower for the purposes of each Credit Line:

The Borrower fails to make payment of any Borrower’s Dues on Due Date or fails to perform any Obligation.
Breach of any terms, covenants, representation, warranty, declaration or confirmation under any of the Financing Documents and/or Avil Terms.
Any fraud or misrepresentation or concealment of material information by Borrower which could have affected the decision of the Credit Line Finance Parties to grant any Credit Line or services (as applicable).
Death, lunacy, or any other permanent disability of the Borrower.
Change of residency status of the Borrower.
Borrower utilizes the Drawdown for any purpose other than the permissible purposes.
The occurrence of any events, conditions or circumstances (including any change in law) which in the independent and absolute opinion of the Credit Line Finance Parties could have a Material Adverse Effect, including limitation of any proceedings or action for bankruptcy/liquidation/ insolvency of the Borrower or attachment/restraint of any of its assets.
Breach of any terms of the Financing Documents by the Borrower or performance of Obligations of the Borrower (including breach towards nonpayment or Borrower’s Dues) as per terms of the Financing Documents in a manner not satisfactory to the Lender and other Credit Line Finance Parties.
Any default by the Borrower under any other contract between the Borrower and any creditor or any other contract or indebtedness of the Borrower or the performance of any covenant, term or undertaking thereunder or any indebtedness of any of the Borrower is not paid when due or any creditor of the Borrower becomes entitled to declare any such indebtedness due and payable before the date on which it would otherwise have become due, or any guarantee or indemnity given by the Borrower is not honored, when due and called upon.
Initiation of any insolvency/bankruptcy proceedings against the Borrower.

The Credit Line Finance Parties' decision as to whether or not an Event of Default has occurred shall be binding upon the Borrower.
Effect of Event of Default. Upon the occurrence of any Event of Default, all amounts payable under any of the Financing Documents and Avil Terms shall be due and payable forthwith without any notice or further actions from the Credit Line Finance Parties. This shall be without prejudice to other legal rights and remedies which the Credit Line Finance Parties shall be entitled to pursue.

CONSEQUENCES OF DEFAULT

Upon the occurrence of any of the Events of Default and at any time thereafter, the Credit Line Finance Parties shall have the right, but not the obligation to declare all sums outstanding in respect of the Credit Line, whether due or not, immediately repayable and upon the Borrower fails to make the said payments within 15 (fifteen) days thereof, the Credit Line Finance Parties may look at their discretion exercise any other right or remedy which may be available to the Credit Line Finance Parties under any applicable law, including seeking any injunctive relief or attachment against the Borrower or their assets or initiate other civil and criminal proceedings (as may be required) which may include but not limited to the proceedings under section 138 of the Negotiable Instruments Act, 1881 and under section 25 of the Payments and Settlement Systems Act, 2007.
The Borrower shall also be responsible and liable for payment of all legal and other costs and expenses resulting from the foregoing defaults or the exercise of the remedies of the Credit Line Finance Parties and towards any claims made by the Credit Line Finance Parties towards costs incurred by them.

DISCLOSURES

The Credit Line Finance Parties will take the best endeavor to maintain the confidentiality imposed on it by applicable law.
The Borrower acknowledges/s, accept/s and consent/s that the Credit Line Finance Parties shall be entitled to disclose information:

To third parties for the purposes of credit reference checks, verification, etc., disclose any information/documents relating to the Borrower under these Terms to, other Credit Line Finance Parties including Service Providers, Affiliates or to prospective transferees or purchasers of any interest in the Credit Line or as required by law or any government order or direction including disclosure as may be necessary to perform or fulfill any requirement specified by the Reserve Bank of India or as deemed necessary by the Credit Line Finance Parties while exercising its remedies under these Terms or the other Financing Documents.
Information and data relating to the Borrower;
The information or data relating to any Credit Line availed of/to be availed by the Borrower.
Default, if any, committed by the Borrower;
For protecting its interests to Income Tax authorities and other authorities;
To Credit Rating Agencies or Credit Information Companies, or any other Government;
Any other Regulatory Authorities/Bodies/ Departments/authorities as and when so demanded.

The Borrower hereby waives the privilege of privacy and defamation explicitly.
The Borrower further confirms and gives specific consent to the Credit Line Finance Parties for disclosing/submitting the 'financial information' as defined in Section 3 (13) of the Insolvency and Bankruptcy Code, 2016 ('Code' for brief ) read with the relevant Regulations/ Rules framed under the Code, as amended and in force from time to time and as specified thereunder from time to time, in respect of the Credit/ Financial facilities availed from the Credit Line Finance Parties, from time to time, to any 'Information Utility' ( 'IU' for brief ) as defined in Section 3 (21) of the Code, in accordance with the relevant regulations framed under the Code, and directions issued by Reserve Bank of India from time to time and hereby specifically confirm to promptly authenticate the ‘financial information submitted by the Credit Line Finance Parties, as and when requested by the concerned ‘IU’.
The Borrower shall not hold the Credit Line Finance Parties responsible for sharing and/or disclosing the information now or in the future and for any consequences suffered by the Borrower and/or other by reason thereof. The provisions of this clause shall survive termination of these Terms and the repayment of the Borrower’s Dues.
The Borrower, as a precondition of the Credit Line given by the Credit Line Finance Parties, confirms that, in case, the Borrower commits default in the repayment on the Due Date, the Credit Line Finance Parties and/or the Reserve Bank of India, shall have an unqualified right to disclose or publish the name of the Borrower as ‘defaulters’ in such manner and through such medium as the Credit Line Finance Parties or Reserve Bank of India in their absolute discretion may think fit.

EQX AS LENDER’S AGENT AND OTHER SERVICE PROVIDERS

The Borrower confirms that they have no objection to EQX acting as a Lender’s Agent and performing duties assigned by the Credit Line Finance Parties from time to time.
The Borrower also confirms that instructions given by EQX in relation to Credit Line shall be binding on them.
The Borrower confirms that without prejudice to any rights of other Credit Line Finance Parties, EQX shall be entitled to give instructions to the Borrower, issue notice to the Borrower, collect Repayment Instruments, repayment amount, etc.
The Borrower expressly recognizes and accepts that the Credit Line Finance Parties shall jointly or severally without prejudice to their rights to perform such activities themselves or through their office employees be entitled and have full power and authority so to appoint one or more third parties including but not limited to EQX (hereinafter referred to as “Service Providers") as the Credit Line Finance Parties may select and to delegate to such party all or any of their functions, rights, and power under Financing Documents and Avil Terms relating to the sourcing, administration, monitoring of the Credit Line and to perform and execute all lawful acts, deeds, matters and things connected therewith and incidental thereto including sending notices contacting Borrower, receiving Repayment Instruments from the Borrower in favor of the Credit Line Finance Parties, etc.
By availing the Credit Line and by accepting the terms herein mentioned, Borrower confirms as follows:

While applying for the Credit Line through the Avil Platform, the Borrower has visited the partner lending page on the Avil Platform.
The Borrower also confirms that they also visited the relevant Lender's website and have perused the relevant details required for understanding and confirmation to be granted for availing the Credit Line.
The Borrower also confirms that they shall be obliged to keep themselves updated about the changes to these Terms made by the Avil Platform and or any Credit Line Finance Parties.
The Borrower also confirms that they shall have no objections in EQX acting as an agent of the Lenders (s), Lender’s Agents, or on behalf of the Lender(s) or in such manner as may be decided by EQX from time to time.
The Borrower also confirms that they shall be bound by any contractual provisions undertaken to the Lender(s) by EQX.
The Borrower also confirms that EQX will be entitled to act as customer support, collection agent, sales agent, technology support, and for such other support/services as deem fit by the EQX.
The Borrower also grants and agrees to consent to EQX (as required) to perform such functions through electronic or non-electronic means, including the Avil Platform or through its service providers or through such other means as deem fit by EQX from time to time.

ELECTRONIC INTERACTIONS

The Borrower hereby confirms that the electronic acceptance of these Terms, Avil Terms, or any Financing Documents results in a binding contract between the Borrower and the Credit Line Finance Parties (as may be applicable).
The Borrower is aware that the transmission of these Terms, Avil Terms or any of the Financing Documents, terms and conditions, instructions, acceptances, and communications can be through electronic means such as email, facsimile, SMS text messaging, websites, Avil Platform, WhatsApp, Viber, telegram (or similar), online/electronic acceptance, etc. (“Electronic Form”).
It is informed to the Borrower that interaction through Electronic Form involves a number of risks, including fraudulent alterations and incorrect transmissions and absence of confidentiality. The Borrower has taken note of such risk, and pursuant to that proceeded to confirm the Terms herein.
The Borrower confirms that the Borrower shall be liable for any loss suffered by the Credit Line Finance Parties based on communication by the Borrower through Electronic Form.
The Borrower hereby irrevocably, confirms, and undertakes to the Credit Line Finance Parties as under:

MISCELLANEOUS

Notwithstanding any suspension or termination of any Credit Line, all rights and remedies of the Credit Line Finance Parties as per Financing Documents and Avil shall continue to survive until the receipt by the Credit Line Finance Parties of the Borrower’s Dues in full.
The Borrower acknowledges that the financing transaction hereunder gives rise to a relationship of debtor and creditor between him/her/it and the Lender(s) and not in respect of any service rendered/to be rendered by the Lender(s). Accordingly, the provisions of the Consumer Protection Act of 1986 shall not apply to the transaction hereunder with the Lender(s).
The Borrower hereby authorizes each of the Credit Line Finance Parties to verify all information and documents including, income proof documents, residence documents, address proof documents, identity documents and other such documents containing personal and financial information as are submitted by the Borrower for obtaining any Credit Line, and the Borrower also consents to subsequent retention of the same by the Credit Line Finance Parties.
The Borrower hereby authorizes each of the Credit Line Finance Parties to perform reference checks about the Borrower in the manner satisfactory to the Credit Line Finance Parties.
The Borrower acknowledges and authorizes each of the Credit Line Finance Parties to procure Borrower’s PAN No./ copy of Pan Card, other identity proof and Bank account details, from time to time and also to generate/obtain CIBIL, Experian, Hunter reports and such other reports (including detailed background verification reports) as and when the Credit Line Finance Parties may deem fit.
In the event of any disagreement or dispute between the Credit Line Finance Parties and the Borrower regarding the materiality of any matter including of any event occurrence, circumstance, change, fact information, document, authorization, proceeding, act, omission, claim, breach, default or otherwise, the opinion of the Credit Line Finance Parties as to the materiality of any of the foregoing shall be final and binding on the Borrower.
The Borrower acknowledges that each of his/her/its Obligations under these Financing Documents and Avil Terms is independent and severable from the rest. If any Obligation is found not enforceable by a court of law, for any reason, the Borrower shall continue to remain bound by the other Obligations stipulated herein. If any provision of the Financing Documents and Avil Terms is prohibited or unenforceable in any jurisdiction, shall not invalidate the remaining provisions of the Financing Documents. All Credit Line and the Financing Documents shall be governed by and construed in accordance with the laws of India. All disputes, differences and/or claims arising out of these presents or as to the construction, meaning or effect hereof or as to the right and liabilities of the parties under the Financing Documents and Avil Terms shall be settled by arbitration in accordance with the provision of the Arbitration and Conciliation Act, 1996 or any statutory amendments thereof or any statute enacted for replacement therefore and shall be referred to a sole Arbitrator to be appointed by the Credit Line Finance Parties. The place of arbitration shall be Delhi. The Arbitrator may lay down from time to time the procedure to be followed by him in conducting arbitration proceedings and shall conduct arbitration proceedings in such manner as he considers appropriate and is hereby expressly authorized to adopt such summary/fast-track procedure for the conduct of the proceedings as she/he may deem fit, including dispensing with oral hearings and issue the award within six (6) months from the date the arbitral tribunal enters upon the reference. The awards, including interim awards of the arbitration, shall be final and binding on all parties concerned. The arbitrator may pass the award without stating any reasons for such an award. Further, the present clause shall survive the termination of Financing Documents and Avil Terms. The Courts at Delhi, India shall have exclusive jurisdiction (subject to the arbitration proceedings which are to be also conducted in Delhi, India) over any or all disputes arising out of the Financing Documents.
Any notice to be given to the Borrower in respect of Financing Documents shall be deemed to have been validly given if served on the Borrower. Any notice to the Credit Line Finance Parties shall be deemed to have been valid only if received by the respective Credit Line Finance Parties.
The Borrower may approach EQX in case of any grievances pertaining to the Credit Line. If not resolved, they can also contact the Lender(s).
The Borrower shall not be entitled to jointly or severally transfer or assign all or any of their rights, Obligations or duties under the Financing Documents to any person directly or indirectly or create any third party interest in favor of any person without the prior written consent of the Credit Line Finance Parties.
Assignments/Securitization/Participation by Lender(s). Each Lender reserves the right to assign/sell/securitize the Credit Line forming part of the Credit Line, by transferring and/or assigning or otherwise all its right, title and interest which such Lender(s) deems appropriate and the Borrower hereby expressly confirms that in that event, the Lender(s) are not required to obtain any permission or give the Borrower any notice. The Borrower shall be bound to accept any such securitization and any such sale, assignment or transfer and the Borrower shall accept such other party/ies as creditors exclusively or as a joint creditor with the Lender(s), or as a creditor exclusively with the right of the Lender(s) to continue to exercise all powers hereunder on behalf of any such other party. In the event of default, any cost in this behalf, whether on account of such sale, assignment or transfer or enforcement of rights and recovery of outstanding dues shall be to the account of the Borrower. The Borrower undertakes to pay third parties the difference between the Credit Line outstanding and the amount received by the Lender(s) in the event of transfer to a third party. The Lender(s) may sell risk participations to one or more persons in all or a portion of its rights and Obligations under these Terms and other Financing Documents and Borrower consent to such arrangement by the Lender(s). The Borrower shall duly execute such other documents as may be requested by the Credit Line Finance Parties and the risk participating person. The Borrower shall not assign, transfer or novate any interest in its rights and/or Obligations, without the prior written consent of the Credit Line Finance Parties.
The Financing Documents and Avil Terms shall be binding upon and inure to the benefit of the Borrower and the Credit Line Finance Parties (as may be applicable) and their respective successors and assigns, except that the Borrower shall not have the right to assign its rights hereunder or any interest therein without the prior written consent of the Credit Line Finance Parties. Each Borrower confirms/s that the Credit Line Sanction Terms, Credit Line Details Sheet, other Financing Documents, and Avil Terms (as may be applicable) executed/confirmed by one of the Borrower shall be conclusive evidence of the drawal of the Credit Line. Each Borrower undertakes to perform corresponding Obligations and make a payment towards Borrower’s Dues.
Any omission or delay on the part of any of the Credit Line Finance Parties, in exercising any of their rights, powers or remedy, upon failure by the Borrower in the due and punctual fulfillment of the Obligations of the Borrower hereunder, shall not be deemed to constitute a waiver by the Credit Line Finance Parties of any of their rights to require such due, a punctual and full performance by the Borrower.
The Borrower shall pay all stamp duty, registration cost, fees, and out-of-pocket expenses incurred by it in connection with the preparation, execution, and delivery of the Financing Documents and the other documents to be delivered hereunder. The Borrower confirms to indemnify and hold harmless the Credit Line Finance Parties from and against any and all claims, damages, liabilities, and expenses (including fees of counsel) which may be incurred by or asserted against the Credit Line Finance Parties in connection with or arising out of any, investigation, litigation or proceeding (whether or not the Credit Line Finance Parties is a party thereto) related to any use or proposed use of the proceeds of the debt by the Borrower.
The Borrower shall also indemnify the Credit Line Finance Parties and keep the Credit Line Finance Parties indemnified in respect of any actions, claims, costs, damages, demands, expenses, losses and liabilities made against, suffered or incurred by the Credit Line Finance Parties arising directly or indirectly from or in connection with:

Any failure by the Borrower to comply with the provisions of the Financing Documents.
Any liability, including third-party liability.
Any claims, losses, demands, actions, costs, expenses, and liabilities incurred or suffered by the Credit Line Finance Parties because of the representations and warranties given by the Borrower being false or untrue.

In the case of multiple Borrowers,

Each Borrower confirms to act as agent of the other, any Obligation undertaken by a Borrower in favor of the Credit Line Finance Parties shall be binding on the other.
Each Borrower confirms that each of them shall have a joint and several liability and responsibility to discharge all and any Obligations towards the Credit Line Finance Parties as per terms of these Terms, other Financing Documents, and Avil Terms.

The grant of the Credit Line or services by the Lender(s) and other Credit Line Finance Parties, shall not vest in the Borrower or any other person a right to claim any damages from the Lender(s) and other Credit Line Finance Parties, for any reason whatsoever.
All covenants, representations, warranties of the Borrower under the Financing Documents shall continue in full force and effect until all Obligations have been satisfied. The indemnification Obligations of the Borrower shall also survive the Financing Documents' and Avil Documents’ termination and shall be deemed to be continuing and in full force and effect, subject to applicable laws. Further, all clauses of the Financing Documents, which are expressly stated as surviving termination of the Financing Documents, shall survive the Financing Documents' termination.
THE BORROWER CONFIRMS HAVING PERUSED, UNDERSTOOD, AND CONFIRM TO THE ABOVE CLAUSES INCLUDING THE CREDIT LINE AND THE RELEVANT CREDIT LINE FINANCE PARTIES’ METHOD OF CALCULATING INSTALLMENT AND APPLICABLE CHARGES. THE TERMS ABOVE AND OTHER DOCUMENTS HAVE BEEN EXPLAINED TO THE BORROWER IN THE LANGUAGE UNDERSTOOD BY THE BORROWER, AND THE BORROWER HAS UNDERSTOOD THE ENTIRE MEANING OF THE VARIOUS CLAUSES STATED IN THESE TERMS. THE BORROWER IS AWARE THAT LENDER(S) HAS ACCEPTED TO GRANT CREDIT LINE TO BORROWER ONLY BASED ON THE REPRESENTATIONS AND WARRANTIES MADE BY THE BORROWER AND THE UNDERTAKING PROVIDED BY THE BORROWER TO ABIDE BY THESE TERMS.

I CONFIRM TO THE ABOVE THROUGH ONLINE/ELECTRONIC MEANS. I HEREBY CONFIRM THAT ACCEPTANCE OF THE ABOVE TERMS AND CONDITIONS WAS COMPLETED ONLINE FOR MY CONVENIENCE.

“APPLIED, ACCEPTED, AUTHENTICATED, SIGNED AND DELIVERED BY ME BY ENTERING THE ONE-TIME PASSWORD (OTP) ON 10-06-2022 AT 12:06:54 THROUGH IP ADDRESS 127.0.0.1”