Year is divided, each such period comprising thirty (30) days and “ Year” shall mean and refer to the continuous period of 360 days.ĥ.1 The Borrower acknowledges and agrees that the Borrower shall make payment of theĭue Amount for the specific Month identified in the Facility Schedule as agreed withĥ.2 Notwithstanding anything stated in Clauses 5.1, 5.2, 5.3, 5.4, 5.5 and 5.6, the To receive Additional Interest (defined below) for each such day of default.Ĥ.3 For the purpose of this Agreement, “ Month” shall mean and refer to each of the twelve (12) named periods into which a calendar Terms agreed between the Borrower and Capital Float, Capital Float will be entitled ![]() ![]() On the part of the Platform or any defective product or deficient service deliveredĤ.1 The Borrower shall pay interest (“ Interest”) on the Loan Amount at the rate mentioned in Facility Schedule.Ĥ.2 In case the repayment of the Loan Amount is not completed in accordance with the Thereto, the Borrower must intimate the Platform and thereafter Capital Float shallĬancel the Loan Facility once the Platform notifies Capital Float of such cancellation.ģ.2 Borrower shall be responsible to contact the Platform for any deficiency in service (ix) “ Due Amount” shall mean the repayment amount to be paid by the Borrower to keep the Loan Facilityģ.1 In the event the Borrower proposes to cancel the Loan Facility or any drawdown Through electronic mode by Capital Float on each drawdown. (viii) “ Facility Schedule” means the drawdown details of the Loan Facility availed by the Borrower and communicated With applicable interest to Capital Float. (vii) “ Repayment Date” means the date stipulated for the borrower to repay the Principal loan amount along Goods and/or is processing the payments for such online transactions. (vi) “ Platform” means the entity facilitating payment for online purchase and sale of services / ![]() Towards the Loan Amount already paid to Capital Float (v) “ Outstanding Amount” shall mean the amount which is to be paid to Capital Float less any part of / instalment(s) Request of the Borrower or in accordance with the drawdown schedule agreed between (iv) “ Loan Facility” The amount of loan availed by the Borrower and disbursed by Capital Float on the Of all the representations, warranties and covenants of the Borrower by Capital Float. (iii) “ Disbursement Date” shall mean the date on which the Loan is disbursed to Platform, on satisfaction (ii) “ Designated Account” shall mean the account of the Borrower for the purpose of repayment of the Loan (i) That the Loan amount shall be disbursed by Capital Float directly to the bankĪccount of the Platform and such disbursement shall be deemed to be disbursed to theīorrower and bound by the clauses set forth in this Loan Agreement. To as the “ Loan Amount") for a period described in the Schedule (“ Term”), on the basis of, and subject to the conditions, terms, and covenants herein setĢ.1 The Borrower has agreed that the Loan Amount shall be disbursed in the following Now the Parties to the Agreement have agreed to the following terms and conditionsġ.1 Capital Float, at the request of the Borrower, agrees to lend to the Borrower,Īnd the Borrower agrees to borrow from Capital Float, a loan amount (hereinafter referred The Borrower shall be responsible for ensuring repayment of the loan to Capital On the Platform (subject to the applicable T&Cs of the Platform), wherein Capitalįloat has partnership agreement with or identified to provide financial assistance.Ĭ. The Borrower has registered himself/herself/itself to purchase goods or services Capital Float is inter alia engaged in the business of providing financial assistance to individuals and businessī. The Borrower and Capital Float shall be referred to individually as a " Party" and collectively as the " Parties".Ī. Referred to as " Capital Float", which expression shall, unless repugnant to the context or meaning thereof includeīorrower, an individual, resident of India (hereinafter referred to as " Borrower" which expression shall, unless repugnant to the context or meaning thereof include Towers, (East Wing), Arcot Road, Saligramam, Chennai - 600093, Tamil Nadu (hereinafter Karnataka - 560080 India and / principal place of business at No.136, 6th Floor, Shyamala 211) Gokaldas Platinum, Upper Palace Orchards, Bellary Road, Sadashivanagar, Bangalore With the Reserve Bank of India, and having its registered office at New No. Private Limited (formerly Zen Lefin Private Limited, operating under the brand name "Capital Float"), a company incorporated under theĬompanies Act, 1956, registered as a non-deposit taking, non-banking financial company This LOAN AGREEMENT (" Agreement") entered on and effective today, at Chennai, by and between CapFloat Financial Services
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