MIO_UBL

IMPORTANT TERMS & CONDITIONS

1 Nature of Facility Un-Secured Term Loan

2 Borrower Name

3 Co-Borrower Name

4 Guarantor

5 Sanctioned Amount Rs. ______________________________________ /-

6 Availability Period of Draw Down 30 Days from the date of Sanction

7 Purpose Business Working Capital

8 Interest Type Fixed Rate

9 Interest Rate ___________% per annum

10 Processing Fees ___________% of Sanctioned amount plus applicable tax, amounting

Rs. _______________________________/-

11 Tenure (In Months)

12 Insurance Premium

13 Repayment Mode NACH/Others

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14 Installment Cycle 3rd of Every Month

15 Installment Amount Rs.__________________________________________/- towards payment of principal

and interest

16 Repayment A/c No & Bank Name

17 Foreclosure/Prepayment Charges • Foreclosure not allowed within 12 months from the disbursal date
• After 12 months till loan closure, Foreclosure penalty 4% plus applicable taxes

18 Part Payment Charges No Part Payment allowed

19 Default Interest 24% per annum on overdue amount

20 Legal Documents As applicable

21 IU Charges Rs. 500/- (including Taxes Per Annum and Per Loan)

22 Documentation Charges Rs. 2,000/- + Applicable Taxes

(including Stamp Duty charges)

GENERAL TERMS
1. The sanction of the above mentioned Facility and all the terms and conditions mentioned in this Important Terms and Conditions
are subject to the execution of a Facility Agreement and other documents in writing (Facility Documents) as Hero FinCorp
Limited (HFCL) may specify in the prescribed formats.
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2. This Important Terms and Conditions intends to summarize certain basic terms of the Facility and the Facility Documents and
does not reflect an agreement between the HFCL and the Borrower in relation to the Facility.
3. The Facility Documents shall contain additional terms and conditions which have not been set out in this Important Terms and
Conditions and the Facility Documents shall be read together with the terms and conditions specified in this Important Terms
and Conditions.
4. All the Charges including without limitation, such as processing fees, legal, incidental expenses, insurance expenses,
Documentation Charges, IU reporting charges, Taxes and out of pocket expenses in connection with the proposed Facility shall
be borne by the Borrower
5. Notwithstanding anything contained in this Important Terms and Conditions or otherwise, the sanction of the Facility mentioned
above is at the sole discretion of HFCL and the terms and conditions in relation to the Facility are subject to modification and /
or cancellation and / or repayment to HFCL, at the sole discretion of HFCL, on demand without assigning any reasons for the
same.
6. The Sanction of the Facility is subject to the Borrower having provided all such information and documents to HFCL as set may
be required by HFCL from time to time or as may be required under the Facility Documents.
7. HFCL, at its sole discretion, shall be entitled to revoke this sanction upon occurrence of any of the following events:
7.1 There is any material change in the purpose(s) for which the Facility has been sanctioned.
7.2 In the sole judgment of HFCL, any material facts have been concealed and / or become subsequently known.

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7.3 Any statement, declaration, undertaking or disclosure made by, or on behalf of, the Borrower in the application or otherwise is
incorrect, inaccurate, incomplete or misleading.
7.4 There is a default or a breach of the terms and conditions of this Important Terms and Conditions, the Facility Documents or any
other loan / facility offered by HFCL or its group company to the Borrower or any of the Co- Borrowers.
7.5 If there is any winding up or insolvency proceeding against the Borrower.
7.6 CPV, RCU report not being positive (If Applicable)
7.7 Proper self-attestation not provided on the documents (Wherever applicable)
7.8 Relevant documents are not executed by the Borrower as per the HFCL’s policy and format
8. Primary applicant to be insured and Hero FinCorp Ltd reserves right to deduct Insurance Premium from loan
9. In case bounce is >= 3 times within first year of disbursement, HFCL reserves the right to revise applicable ROI by up to 2%, at its
sole discretion, upon occurrence of any financial default. Such revised interest rate shall be effective prospectively.
10. Non-submission of Post Disbursal Documents by the Borrower beyond permissible timelines shall attract additional Penal charges
of Rs. 2500/- per document (as per document submission commitment date)
11. HFCL reserves the right, at its sole discretion and without assigning any reason and with such notice as HFCL may deem reasonable
to the Borrower, to modify, vary, delete or add to the terms and conditions, or to terminate the said Facility, this Important Terms and
Conditions and the Facility Documents, at any time, and to recall any or all of the amounts due under the said Facility. All amounts
due in respect of the said Facility shall become payable forthwith on such demand.
12. HFCL adopts interest rate/ pricing methodology based on various risks associated with the type of Facility, cost of funds, tenor of the
loan, type & value of Security, Facility Amount etc. Further, HFCL periodically reviews the rate of interest and product features offered
by it with those offered by its competitors. For a Borrower, an additional risk premium may be included in the pricing based on the
credit risk associated with the Borrower which is a function of the Borrower’s credit history, credit information, internal rating along
with other factors like the Borrower’s source of income, professional experience etc. Accordingly, the applicable rate of interest may
be different for different categories of Borrowers and may differ from one facility to other facility.
13. PEMI Interest, if applicable shall be at the rate at which the EMI has been calculated, may be charged, at the sole discretion of HFCL,
from the date of loan booking/disbursement till the date of commencement of first EMI.
14. The Borrower hereby accepts that, there may be a time lag between disbursement of the Facility and the payment being received by
them. The Borrower further agree & undertake that the Borrower will pay the interest and charges as set out in the Facility Documents
on the disbursed Facility Amount for such period & the Borrower will not claim for any type of refund.
15. The Processing Fees is a non-refundable fee and is collected by HFCL for the purpose of appraising the Loan Application form for the
Facility and the same is independent of the outcome/result of such appraisal.
16. The Borrower shall immediately intimate HFCL in the event of any change in the repayment capacity of the Borrower and also any
change in any information stated in the application or under any Facility Documents.
17. No amount under the Facility shall be disbursed until and unless the Borrower has executed the required agreements, documents and
writings and performed such other acts and deeds as HFCL may require.
18. HFCL shall not charge foreclosure charges /part-payment penalty on all floating rate term loans sanctioned for purposes other than
business to the individual Borrowers
19. The Borrower further agrees and undertakes that the full and final foreclosure / termination statement / letter will take at least 15
(fifteen) working days from date of receipt of request.
20. HFCL reserves the right to deny any Facility foreclosure/ termination request received during the lock-in period (as defined under the
Facility Documents) or in case HFCL allows foreclosure/ termination of Facility during the lock-in period, HFCL reserves the right to
charge interest on the Facility for the period up to the completion of the lock-in period.
21. HFCL may in its sole discretion on such terms as to pre-payment charges, etc. as it may prescribe, permit, prepayment / acceleration
in the payment of EMIs at the request of Borrower, provided that HFCL may, in permitting such prepayment, also specify from time
to time, the minimum amount of prepayment / amounts payable on account of acceleration of EMI. In the event HFCL permits any
prepayment / acceleration, the repayment schedule for the Facility shall be amended / altered by HFCL for giving effect to such
prepayment/ acceleration, and such amended / altered repayment schedules shall be binding upon the Borrower. In case any amount
is prepaid by the Borrower, the same shall be adjusted first towards, incidental charges, Default Interest, PEMI interest, outstanding
EMIs, EMI of the current month and balance towards the principal dues.
22. All the facilities sanctioned to the Borrower shall be subject to HFCL’s rules as well as the directives issued by Reserve Bank of India,
from time to time.
23. HFCL may at its sole discretion disclose information regarding the Facility, Facility Documents or the Borrower, its Guarantors etc. to
any Person including government authority, RBI, CIBIL or any third party etc.
24. TDS Deduction – Gross Interest would be paid on the Facility to HFCL. Borrower shall provide a TDS certificate on a quarterly basis
to HFCL and only upon receipt of such TDS certificate shall HFCL be required to refund any TDS amounts to the Borrower within 3
(three) Business Days. In the event the Borrower is paying the net amount, an undertaking, to the effect that the Borrower will provide
TDS certificates to HFCL on a quarterly basis, shall be provided by the Borrower. However, in event a TDS certificate not been
provided within agreed time frame of 3 (three) months, HFCL reserves the right to debit the amount to Borrower’s Facility account and
same shall stand as outstanding and recoverable along with Default Interest (where applicable)
25. This sanction is available to the Borrower for the period specified in the Important Terms and Conditions (which period shall not
exceed 30 (thirty) days from the date of the Sanction) provided the Borrower deposits with HFCL the processing fees mentioned
above along with a copy of this Important Terms and Conditions accepted and delivered by the Borrower to HFCL
26. Notwithstanding the issuance of this Important Terms and Conditions and the acceptance thereof, HFCL may decide to not disburse
the Facility, repudiate and rescind this Important Terms and Conditions unilaterally without assigning any reasons.
27. This Important Terms and Conditions is confidential and the property of HFCL and neither this document nor the contents hereof shall
be communicated to or used without the HFCL’s prior written consent.
28. This Important Terms and Conditions shall be governed by the laws of India and the Borrower and HFCL shall be subject to the
exclusive jurisdiction of New Delhi. Notwithstanding the aforesaid, the Borrower acknowledges and agrees that HFCL may, however,
in its absolute discretion commence any legal action or proceedings arising out of this Important Terms and Conditions and Facility
Agreement against the Borrower in a court, tribunal or any other appropriate forum situated in any part of India.
I/We hereby accept the above terms and conditions and also acknowledge the receipt of copy of this Important Terms & Conditions.

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