(“Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.) (added to the loan outstanding)

In the event of non-creation of Security under the Facility Documents, the Borrower’s Dues shall carry Penal Charges at 9% per annum plus taxes as applicable, from the date of said default to the date on which the said default is cured by the Borrower, to the satisfaction of the Lender