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Application for UCO Emergency Credit Line (For existing borrowers only)

Sr.No. Bank Credit facility Limit sanctioned O/s as on Remarks
1.
2.

 

In view of liquidity / cash flow mismatch on account of the present outbreak of COVID- 19, I / we request you for sanction of a fresh Ad-hoc limit of Rs 0 lakhs, to meet the temporary liquidity mismatch and cash flow problems, arising out business disruption, supply chain breakage, payment of statutory dues, salary/ wages/ electricity bills/ rent, payment to sundry creditors etc. during Covid-19.
I/ We also request you that since the payment of Stamp Duty on the loan documents/agreements is not practically possible in view of the lock down announced by the Central Government /State Government, I/we request you to release the loan sanctioned and I/We hereby agree, undertake and confirm as follows:
1. That necessary approval has been taken from the Board of Directors/General Body for availing the above said additional loan (Clause may be included as applicable).
2. That the availment of above said limit will be in tune with the Memorandum and Articles of Association of the Company (Clause may be included as applicable).
3. That the existing securities created in favour of the Bank by way of Hypothecation / Pledge/ Mortgage shall continue as security for the new facility also.
4. That there lease/disbursement of the Fresh Limits to my/our Loan Account shall be deemed as my/our acknowledgement of receipt of the above additional facility sanctioned tome/us.
5. That the funds will be utilised for the purpose stated herein above and will not be utilized for any speculative purpose.
6. That I/we shall execute the necessary loan documents including creation of securities as prescribed by the Bank before disbursement/ within days from the date of disbursement.
I/we hereby agree to keep the Bank indemnified for any loss or damages that the Bank may suffer or incur on account of the sanctioning/disbursing the above said credit facilities to me/us.