6. It is expressly agreed by and between the parties that, in the event of a downward revision of the market price of the shares of 123 LTD, the borrower/holder of pledges alone would mortgage those other shares of 123 LTD for the benefit of the lender, in order to guarantee a margin between the amount of the loan and the interest and securities. 4. In the event that the lender sends the notification to the borrower in order to offset the margin on the securities (in this case ____%) and the borrower is unable to meet the margin within the period indicated in the communication and/or is unable to honour the margin, the borrower shall be deemed to be in arrears under the terms of this Agreement and, in this case, it is legal (but not mandatory), by the borrower, the repayment of the loan as well as the remaining interest and the borrower is required to repay the loan in full with the interest thereof without objections and / or demur. i-lend ensures that the cheque collected by the lender on behalf of the borrower is paid into the account indicated by the borrower within 3 to 5 working days of the execution of this document, both by the lenders and by the borrowers. In case of delay in the provision of the money by the lender due to unforeseen circumstances, the borrower will immediately inform the borrower and an additional 5 working days will be made available to the lender to deposit his check with i-lend. In the event that the lender has not deposited the required cheque by the due date of the offer, as indicated above, the necessary steps will be taken to reach other interested lenders in order to offer the remaining amount to the borrower. However, the borrower can choose either to take the proposed amount or to wait for the total amount of the loan to be made available. However, it may take an additional 3-10 business days to complete the credit transaction after the execution of this agreement, both by the lender and the borrower. 1.1. In this Agreement (including any recitals, annexes, annexes or attachments), the following terms and expressions have the following meanings: – (a) “Act”, the “Act” of 1956, unless the context requires otherwise: (b) “i-lend” refers to DIPAMKARA WEB VENTURES PRIVATE LIMITED”, a limited liability company established in accordance with the provisions of the Companies Act 1956 (1 of 1956) and having its registered office in 6-3 -1109/5 & 6, 4th Floor, G.S Mall, Somajiguda, Hyderabad, Telangana has 500082. (c) `final borrower` means a person registered on the i-lend portal to benefit from credit.
d) “i-lend lender” is a person registered on the portal to offer credits. (e) “i-lend rating”, a rating assigned by i-lend on the basis of its proprietary algorithm. (f) “credit score” means the score or report obtained by a recognised third party. (g) “Indian resident” means a person residing in India as defined in clause 2 (v) Foreign Exchange Management Act, 1999. The same is reproduced for the following purposes of reproduction: a person residing in India for more than 182 days in the preceding financial year, but not: (A) A person who has sent India or is staying outside India; in both cases: (A.1) for or in the case of employment outside India; or (A.2) for the exercise of an activity or vocation outside India outside India; or (A.3) for another purpose, among those indicating its intention to remain outside India for an indefinite period. (a) use all the credit for the necessary purposes. (b) immediately inform the events or circumstances likely to cause the delay in the conclusion of this Agreement. (c) To provide accurate and truthful information. (d) reimburse without default the necessary amount of financing. (e) keep in the account of the bank that draws a balance sufficient for the payment of the CEPs it has issued on the due date of a tranche, and then cash all such post-dated cheques.