LOAN AGREEMENT

This LOAN AGREEMENT (hereinafter referred to as the “Loan Agreement”) is executed electronically, between;

DROOM TECHNOLOGY PRIVATE LIMITED, a company incorporated under the Companies Act, 2013 having its registered office at 90/31B, First Floor, Malviya Nagar, New Delhi 100017, New Delhi, India (hereinafter referred to as the “Lender” (which expression shall unless be repugnant to the context or meaning include its successors and assigns etc.,) of the FIRST PART;

AND

The Borrower, an Indian inhabitant(individual) hereinafter called the “Borrower(s)” of the SECOND PART;

The Lender and the Borrower shall hereinafter be referred to individually as “Party” or collectively as “Parties”.

1 Definitions and Interpretations

The following definitions apply throughout this Agreement unless otherwise stated;

1.1 "Agreement" means this agreement executed between the Lender and the Borrower and includes any schedules and/or amendment made therein duly signed by the parties.

1.2 “Account" means the account established by the Borrower with the Lender for setting up of the Overdraft Limit.

1.3 “Assets" shall mean all the Vehicle, Machinery and / or any other assets, whether movable or immovable, offered or caused to be offered as security / secured in favor of Droom Credit by the Borrower for the due repayment of the loan granted / to be granted by Droom Credit and which is hypothecated by the Borrower(s) in favor of the Lender by way of security.

1.4 "Borrower" means the person/entity named as such in the Schedule A and/or Loan Application form attached hereto and includes Co-Borrower.

1.5 "Borrower's Dues" means and includes the outstanding Principal amount of the Facility, interest on the Facility, all other interest, all fees, costs, charges, expenses, stamp duty and all other sums whatsoever payable by the Borrower to Droom Credit, as well as all other monies whatsoever stipulated in or payable by the Borrower under the Loan Terms of the said agreement.

1.6 " Base Rate" means the rate of interest fixed by the Lender from time to time as its Base Rate.

1.7 “Due Date" means the date(s) on which any amounts in respect of the Borrower's Dues including the Principal amounts of the Facility, interest and/or any other monies fall due as specified in the Loan Application Form and Transaction Documents as Schedule A.

1.8 "Electronic Clearing System" hereinafter referred to as "ECS", shall be deemed to include transfer of funds electronically, either through a message for transfer of funds sent electronically.

eNACH (“National Automated Clearing House (NACH)”) is the electronic process of helping the banks, financial institutions and other government bodies to provide automated payment services. Once the user signs the eNACH or electronic NACH form, he gives the permission to the concerned authority to debit the said amount from his bank every fixed day of the month.

1.9 "Effective Date” means the date of execution of this agreement.

1.10 “Equated Monthly Installment (EMI)" means the amount of monthly payments required to be paid to the Lender to amortize the Loan with interest over the tenure of the Loan.

1.11 "Facility" means the credit facility in the nature of loan or overdraft limit sanctioned to the Borrower by the Lender.

1.12 “Hypothecation” means a specific charge created upon the secured asset.

1.13 "Interest" shall mean the rate of interest chargeable on the Loan Facility Amount at the rate specifically mentioned in the application form.

1.14 “Lender” means Droom Credit providing Loan Facility to the Borrower.

1.15 "Loan" means the amount disbursed by the Lender to the Borrower and includes principal amount, interest additional interest and any other amount due and payable by the Borrower to the Lender as per the terms and conditions of this Agreement.

1.16 " Loan Application Form” means, as the context may permit or require, the credit facility Application Form submitted by the Borrower to Lender for applying for and availing of the facility, with all other information, particulars, clarifications and declarations, if any, furnished by the Borrower in the said form.

1.17 "Parties" means the Droom Credit and the Borrower(s) referred to collectively.

1.18 "Person" shall include individual, company, association of persons, society.

1.19 “Pr Payment” means the repayment of the entire loan even before the maturity or otherwise than decided, in accordance with the terms and conditions contained herein for such Pr payment together with such charges as may be prescribed by the Lender from time to time.

1.20 "Post Dated Cheques" ("PDC") means the Cheques issued by the Borrower in favour of the Lender for repayment of the Loan Facility amount along with accrued interest.

1.21 "Registering Authority" shall refer to such statutory authorities with whom the registrable Asset(s) is/are required to be registered or is required to be licensed and shall include amongst others the local Road Transport Officers' office.

1.22 "Repayment" means the repayment of the principal amount of Loan, interest thereon and/or any charges, premiums, expenses, Fees & Charges or other dues payable in terms of this Agreement.

1.23 “Vehicle” means New and used Cars and Two Wheelers.

In this Agreement, singular shall include plural and the masculine gender, the feminine or neuter gender.

Any expressions not defined herein, if defined with defined with the General Clauses Act, 1897, shall carry the same meaning as assigned to it under the said Act.

In this Agreement, headings are for convenience only and shall not affect interpretation except to the extent that the context otherwise requires.

2. FACILITY AMOUNT, DISBURSEMENT, INTEREST, TAXES AND AMORTIZATION

2.1Facility Amount

(a) The Lender hereby agrees to make available to the Borrower and the Borrower hereby agrees to avail from the Lender, the Facility Amount mentioned in Loan Application form in the manner and on the terms and conditions as stipulated in these present agreement for the purpose as mentioned herein above.

(b) The Borrower shall be solely liable to bear any increase in the price of the Vehicle and /or cost of insuring/ registering the Vehicle.

2.2 Interest

(a) In the event the Lender reduces or increases the interest rate prior to the disbursement of the full Loan the applicable rate of interest shall be varied on weighted average basis with reference to the tranches disbursed / to be disbursed.

(b) The Lender shall be entitled to revise the rate of interest at any time and from time to time as per its policy, market conditions and/or applicable laws and regulations, if any, during the tenure of the Loan at its sole discretion. The Lender will endeavor to inform the Borrower about the variation in the interest in due course.

(c) The Borrower shall reimburse or pay to the Lender such amount as may have been paid or payable by the Lender to the Central or State Government on account of any tax levied on interest (and/or other charges) on the Loan by the Central or State Government. The Borrower shall make the reimbursement or payment as and when called upon to do so by the Lender.

(d) The Borrower shall also bear all the tax, toll, duties, levies, cess or any other tax as may be imposed by the central government, state government, judicial, quasi judicial or any municipal authorities, which may be chargeable on the Vehicle and if required shall also be liable to reimburse all such taxes, tolls, duties, levies, cess, etc., to the Lender.

2.3 Payment of Other Expenses

The Borrower undertakes to pay forthwith on demand to the Lender all costs and expenses (including legal costs between legal counsel and clients) on a full indemnity basis incurred and or to be incurred by the Lender for investigation / inspection of Vehicle offered as security and for the preparation, execution, preservation, performance, enforcement and realization of the outstanding

Facility amount, security documents and other instruments creating and/or evidencing the creation of any security for the Facility as also any other instruments required in connection with the Facility.

2.4 Details of Disbursement

The Lender shall disburse the Loan in lump sum amount to the Borrower. The Borrower shall acknowledge the receipt, in the form required by the Lender

2.5 Mode of Disbursement

a. Disbursement of the Loan may be made directly to the Borrower or Seller/Dealer/Body-constructor of the Vehicle or in such other manner as may be decided solely by the Lender.

b. The Lender shall have the right to adjust or any other dues against UN-disbursed amount, if any.

c. Disbursement shall be deemed to have been made to the Borrower/Seller/Dealer/Body-constructor on the date of the disbursement by cheque or pay order or REGS or NET, as per the discretion of the Lender.

d. Interest on the Loan will begin to accrue in favor of the Lender on and from the first date of disbursement in cases where the Facility is payable from the date when the entire facility amount was made in lump sum.

2.6 Amortization

a. The Borrower will amortize the Loan Amount as stipulated in Schedule A, subject to any other changes in such amortization as communicated later in writing to the Borrower.

b. The Borrower shall also pay to the Lender until commencement of EMI.

c. The Borrower agrees that the repayment of the amount of the Facility together with interest, additional interest and all such other sums due and payable by the Borrower to the Lender shall be payable at the place of the Lender is situated or such other place notified by the Lender to the Borrower

2.7 Terms of Disbursement

The Lender at its sole discretion may cancel disbursement of the loan sanctioned if the Borrower fails to adhere to the terms and conditions or if the Lender any adverse information on the credentials or credit score Borrower.

2.8 Delay / Default in Payment

a. No notice, reminder or intimation shall be given to the Borrower regarding his obligation and responsibility to ensure prompt and regular payment of interest EMI and all other amounts payable by the Borrower to the Lender on the respective due dates.

b. Without prejudice to the Lender's other rights to delay in payment of EMI shall render the Borrower liable to pay Additional Interest at the rate mentioned in Schedule-A or at such higher rate as per the rules of the Lender in that behalf as in force from time to time. In such event, the Borrower shall also be liable to pay incidental charges and costs to the Lender.

c. Notwithstanding anything contained in the present Agreement, and irrespective of the mode of payment selected by the Borrower in the Loan Application Form, upon any default by the Borrower in payment of one or more Installment on the Due date pertaining to the Facility or any non-realization of the installment on the Due date by Lender, Lender shall be entitled, without prejudice to its other rights under the Loan Agreement Terms, to present and/or re-present the Post Dated Cheque issued by the Borrower in favor of Lender in connection with the facility.

Irrespective of mode of payment / repayment selected by the Borrower in the Loan Application Form, Lender shall, as it may deem appropriate and necessary, be entitled to require the payment and/or collection of the Installment and all other amounts comprising the Borrower's dues as expressed in the Application Form, or other Post Dated Cheque (PDC), if any, submitted by the Borrower by means of ECS / eNACH, by itself or through such other person permitted for the same, instead of and in lieu of presenting / re -presenting such PDC, if any, issued by the Borrower in favor of Lender or utilizing any other mode or manner of Payment or re-payment of the Installments and all other amounts comprising the Borrower's dues, provided that such right of Lender shall be without prejudice to its other rights under the Loan Terms, in case of any failure to receive the Installments or any other amounts due, through the ECS / eNACH (debit) for any reason whatsoever.

d. If the Borrower defaults or has a delay of more than 90 days or more in making payment of any Installments or any other amounts comprising the Borrower's Dues to Lender on the respective the Due Date(s), the Borrower shall be liable to pay further Interest at the rate specified in Schedule-A on all such Outstanding /unpaid amounts from the relevant Due Date till the date of payment of such entire amount. Such further Interest shall be in addition to any other charges, which the Borrower is liable to pay to Lender in terms of these presents.

2.9 Pre-payment of the Loan

The Lender may, in its sole discretion and on such terms as to pre-payment fees, etc. as mentioned in Schedule A, which may be modified from time to time, permit acceleration of EMIs or pre-payment at the request of the Borrower. If permitted by the Lender, the Borrower shall give prior written notice of his intention to prepay the full amount or partial pre-payment of Loan and pay to the Lender such prepayment charges mentioned in the Schedule A attached hereto, subject to change by the Lender from time to time.

Save and except as mentioned herein above, the Borrower shall not be entitled to make any Pre-payment, If notwithstanding the above the Borrower pays any amount to the Lender before the due date, the Lender shall be entitled to appropriate the same in such manner as it deems fit. And the Lender will give the Borrower credit for the same only on due date following in the month next succeeding the Pre-Payment or when respective payment falls due and not before. In the event the Lender permits any Pre-payment, the Repayment schedule shall be altered by the Lender at the request of the Borrower and the Borrower agrees to adhere to the altered Repayment schedule. Such Repayment schedule shall be part of this Agreement.

2.10 Processing Fees

The Borrower acknowledges that processing fee as mentioned in the Schedule A has been paid by the Borrower and the same is non-refundable under any circumstances whatsoever including but not limited to decline / part disbursement / disbursement of Loan.

2.11 Terminal Dates for Disbursement

The Lender may by notice to the Borrower suspend disbursement of the Loan if the Loan shall not have been fully drawn within15 working days from date of disbursement or such other period as may be decided by the Lender.

2.12 Alteration and Re-Scheduling of EMI

If the entire amount of the Loan is not drawn by the Borrower within a period of 15 days from the Effective Date, EMIs may be altered and re-scheduled in such manner and to such extent as the Lender may, in its sole discretion, decide and the repayment will thereupon be made as per the said alteration and re-scheduling notwithstanding anything stated in this Agreement.

2.13 Cross Default

The Borrower agrees and acknowledges that any default by the Borrower under any agreement entered into by the Borrower with any other bank and/or Financial Institution including but not limited to the different Facilities provided by the Lender shall constitute an event of default under this Agreement and vice-versa.

Conditions Precedent

3.1 The following shall be conditions precedent for disbursal of the Loan or any tranche thereof:

The Borrower shall, prior to receiving the disbursal of the Loan, have utilized his own contribution, i.e. the coat of purchase of the Vehicle less loan availed from the Lender unless specified by the Lender.

The Borrower shall have an absolute, clear and marketable title/ownership to the Vehicle and that the Vehicle is absolutely unencumbered and free from any liability and prior charges whatsoever.

The borrower shall satisfy the submission of following documents for verification of identity/address:

Verifying the following documents – Aadhaar card, PAN card, bank statement for income verification.

Submission of alternate documents to confirm identity/current address etc in case the above documents are deemed to be insufficient.

Insurance documentation of the vehicle.

Any other document as may be deemed necessary by the lender

Field inspection/current address verification (if the lender feels necessary)

ECS/NACH form giving mandate to Droom to debit customers account for EMIs

Car inspection in case of used vehicle may be conducted by the Lender. Loan facility may be revoked or amount of loan may be reduced by the Lender in case the report is unsatisfactory.

No Event of Default shall have occurred.

Any disbursement of the Loan and/or tranche thereof shall at the time of request there for be required immediately by the Borrower for the sole and exclusive purpose of the Borrower as stated in the Loan Application and the Borrower shall produce such evidence of the proposed utilization of the proceeds of the disbursement of the Loan or any tranche thereof as is satisfactory to the Lender as and when required by the Lender.

No extraordinary or other circumstances shall have occurred which shall make it improbable for the Borrower to fulfill his obligations under this Agreement.

The Borrower shall have to execute the documents/forms/undertaking attached herein with this Agreement in Schedule - C and delivered a money bond or a demand promissory note in favor of Lender/any other applicable authority for the amount of the Loan.

The borrower understands and acknowledges that the loan disbursal shall not be final unless all the conditions of this clause is satisfied to the Lender’s satisfaction and that the Lender reserves the right to decline the loan disbursal in case any of the conditions precedent are not fulfilled.

Security

4.1 The Borrower agrees to create security interest in such form and manner as may be required by the Lender to secure the principal amount of the Facility together with interest, Additional Interest, costs, charges, expenses, etc. due and payable by the Borrower to the lender.

4.2 The Borrower agrees to hypothecate and charge in favor of Lender as and by way of first charge thereon, the Vehicle more particularly described in Schedule A hereto, to Lender for the payment to the Lender of all monies at any time due and payable by the Borrower to Lender in respect of the Loan.

Security, if any, created by the Borrower and/or any other person in favor of Lender in connection with the repayment of the Borrower's Dues shall continue until the full payment of all monies due under/in respect of the Facility.

4.3 The Borrower agrees to furnish such number of PDC's to the Lender as may be required by the Lender. The Borrower shall fill in the date and other details/blanks in the aforesaid PDCs and the same shall be deemed to be valid and binding on the Borrower.

4.4 Continuing Security

All security furnished by the Borrower to the Lender in connection with the Loan shall remain a continuing security to the Lender and the same shall be binding upon the Borrower. The Borrower agrees that the security(is) shall not be discharged by intermediate payment by the Borrower till such time all the dues in respect of the Loan are fully paid to the satisfaction of the Lender and the Lender consents to give a discharge in respect of the security in writing to the Borrower. Further, the security shall be in addition to and not in derogation of any other security, which the Lender may at any time hold in respect of the Borrower's dues and shall be available to the Lender until all accounts between the Lender and Borrower in respect of the Loan are ultimately settled.

Covenants

5.1 Affirmative Covenants

The Borrower covenants with the Lender that during the tenure of the Loan:

The Borrower shall ensure that the entire Facility will be utilized for the purpose as stated by the Borrower in the Facility Application Form and for no other purpose whatsoever.

The Borrower shall maintain the Vehicle in good order and condition and all necessary repairs, additions and improvements thereto will be made during the currency of the Facility and that the Borrower will ensure that the state of the Vehicle does not diminish.

The Borrower shall notify the Lender of any change in the Borrower's employment, business or profession. In the event the Borrower is self-employed, the Borrower hereby undertakes to keep the Lender informed about the financials of his business on a regular basis as may be notified to him by the Lender. In the event the Borrower is a company, partnership, limited liability partnership or sole proprietary concern, Borrower shall provide the Lender such information and/or documents as may be required by the Lender.

The Borrower shall notify the Lender of any change in its residential address, communication details and bank details within 7 days of such change.

The Borrower shall duly and punctually comply with all terms and conditions of holding the Vehicle and all the rules, regulations and other laws relating but not limited to Motor Vehicles laws, or any other competent authority, and pay such maintenance and other charges for the upkeep of the Vehicle as also any other dues, etc., as may be payable in respect of the Vehicle and/or of the use thereof.

The Borrower shall ensure that the Vehicle is insured against fire, earthquake, flood, storm, tempest or typhoon and other hazards, as may be required by the Lender, with the Lender being made the sole beneficiary under the policy, for a value as required by the Lender and produce evidence thereof to the Lender from time to time and wherever called upon to do so. The Borrower shall pay the premium promptly and regularly so as to keep the insurance policy alive at all times till the Facility is amortized in full.

The Borrower shall promptly inform the Lender of any of any loss or damage to the Vehicle due to any act of God or damage or other risks against which the Vehicle may not have been insured.

If the Facility is in the nature of Loan for Purchase of Commercial Vehicle :

The Borrower shall complete purchase of the Vehicle as indicated by him in the Facility Application Form and obtain and produce to the Lender purchase documents, as the case may be.

The Borrower shall promptly notify any event or circumstances which might operate as a cause of delay in the purchase of the Vehicle(s).

The Borrower shall pay all road taxes, octroi and other local taxes/charges in accordance with the law and regulations.

The Borrower shall allow any person authorized by the Lender to have free access to the Vehicle for the purpose of inspection.

The Borrower shall intimate the Lender promptly of any dispute which might arise between the Borrower and any person or any government body or authority thereby affecting the ability of the Borrower to repay the Loan(s) in the manner stipulated hereunder.

The Borrower shall on the Lender's request do, perform and execute such acts, deeds, matters and things as the Lender may consider necessary to perfect the security for and/or to carry out the intent of this Agreement.

The Borrower shall confirm that the true copies of the document submitted for the purpose of the Facility are genuine. The Lender may at any time, call for or require verification of originals of any/all such copies. Any such copy in possession of the Lender shall be deemed to have been given only by the Borrower.

The Borrower confirms that there is no action, suit, proceedings or investigation pending or, to the knowledge of the Borrower, is threatened, by or against the Borrower before any court of Law or Government authority or any other competent authority which might have a material adverse effect on the financial and other affairs of the Borrower or which might put into question the validity or performance of this Agreement or any of its terms and conditions.

If the Borrower is a company, it shall register the charge created in favour of the Lender in proper form with the Registrar of Companies within a period of 15 days from the date of creation of charge.

The Borrower confirms that the Borrower is the absolute owner of the Commercial Vehicle / Vehicle, to be offered as security.

If the Borrower is a Person other than an Individual, it shall promptly inform the Lender of change in location of its office / registered office, name, name, contact details (including communication and grievance mail id)main business activity of the Borrower.

The Borrower shall bear all costs of making good any deficit in stamp duty on the documents executed by the Borrower in relation to the Facility and / or security created by the Borrower in favour of the Lender.

The Borrower shall intimate the Lender of any change in residential address, communication details and bank details within 7 days of such change.

The Borrower agrees that any security provided by the Borrower to the Lender under any other credit facility shall be available to the Lender under this Agreement upon the occurrence of an event of default under this Agreement and vice versa.

5.2 Negative Covenants

The Borrower further covenants with the Lender that unless the Lender shall otherwise previously approve in writing, the Borrower shall not

Use the Facility for any and social or speculative purpose or a purpose other than that stated with Facility Application.

Sell, mortgage, lease, surrender or otherwise howsoever alienate, encumber or create any third party interest in the Vehicle or any part thereof.

Enter into any agreement or arrangement with any person, institution or local or government body for the use, occupation or disposal of the Vehicle or any part thereof.

Stand surety for anybody or guarantee the repayment of any loan or overdraft or the purchase price of any asset.

Execute any document, such as Powers of Attorney, or any other similar or other deed, in favour of any person to deal with the Vehicle in any manner.

If the Borrower is a company or limited liability partnership or partnership firm, make any change in the constitution, management or existing ownership or control or share capital of the Borrower.

If the Borrower is a firm, dissolve or admit new partners in the partnership.

If the Borrower is a company or limited liability partnership or a partnership firm, enter into a reconstruction or arrangement or merge or amalgamate with any other company or body corporate or enter into any partnership.

Leave India for employment or business or for long term stay abroad without fully repaying the Facility Amount together with interest and other clues and charges including pre-payment charges as contained herein. If the Borrower becomes a Non Resident Indian, the Borrower agrees to repay the Facility Amount in accordance with the rules, regulations, guidelines, norms of the Reserve Bank of India.

Representations and Warranties

REPRESENTATION BY THE BORROWER:

The Borrower hereby declares, represents and warrants on a continuing basis that:

The Borrower is aware that the Lender is granting the Loan on the basis of the Facility Application made by him/her/it for purchase of the Vehicle and on the faith of the representations made by the Borrower and believing the same to be true.

That all the necessary approvals for availing of the Facilities have been obtained and that the Borrower will at all times till the amounts due to the Lender are paid in full and the Loan is fully repaid, keep all such permissions valid and subsisting.

The officer of the Borrower(s) executing this Agreement and the documents executed in pursuance hereof, are duly and properly in office and fully authorised to execute the same.

This Agreement and the documents to be executed in pursuance hereof, when executed and delivered, will constitute valid and bind obligations of the Borrower.

It has not taken any corporate action nor have any steps been taken or legal proceedings been initiated or threatened against the Borrower for its winding up, dissolution, administration, reorganisation or for appointment of receiver, administrator of the Borrower or all or any of its assets or undertakings.

As of the date of this Agreement, there is no litigation, proceedings or disputes pending or threatened against the Borrower, the adverse determination of which might substantially affect the Borrower's ability to repay the Loan as described in the Schedule A or have a materially adverse effect on the financial condition of the Borrower.

The execution and delivery of this Agreement and the performance of its obligations hereunder does not: (I) contravene any applicable law, statute or regulation or any judgment or decree to which the Borrower is subject. (ii) conflict or result in any breach of any covenants, conditions and stipulation under any existing agreement, to which the Borrower is a party. (iii) conflict or contravene any provision of the Memorandum and Articles of Association of the Borrower.

There has been no material adverse change in the financial condition of the Borrower, nor has any event which is prejudicial to the interest of the Lender taken place since the date of latest audited financials of the Borrower which is likely to materially and/or adversely affect the liability of the Borrower to perform all or any of the obligations under this Agreement.

The Borrower shall be exclusively responsible for getting the delivery of the Vehicle from the manufacturer/dealer/seller/Body-constructor. The Lender shall not be liable for any delay in delivery/disbursement, or the quality/condition/fitness of the asset. The Borrower absolves the Lender from any liability in respect of the above and that the Borrower shall not withhold payment of stipulated EMI on the ground that the asset has not been delivered or any alleged claim/dispute in respect of the Vehicle.

The information given in the Loan Application Form and end use of funds letter and any prior or subsequent information provided or explanation furnished to the Lender in this behalf are true, complete and accurate in every respect.

The purpose for which the Facility is taken is not illegal, speculative or nefarious.

The Borrower assures that subsequent to the application there has been no material change, which would adversely affect the Lender and/or the provision of Facility by the Lender to the Borrower.

The Borrower is not aware of any document, judgment or legal process or other charges or of any latent or patent defect affecting the title of the Property or of any material defect in the Property which has remained undisclosed and/or which may affect the Lender prejudicially.

The Borrower has paid or will pay when due, all public demands such as Income Tax, Utilities Payment, Property Taxes and all the other taxes and revenues payable to the Government of India or to the Government of any State or to any local authority and that at present there are no arrears of such taxes and revenues due and outstanding.

The Borrower has disclosed/furnished all facts/information to the Lender in respect of the Facility and all information in the Facility Application or in any supporting documents or otherwise howsoever is absolutely true, correct and complete in all respects and that no fact or information necessary to be furnished by the Borrower has been omitted in order to induce the Lender to provide the Facility.

The Borrower does not violate any covenant, conditions or stipulations under any existing Agreements entered into by the Borrower with any party, by availing the Facility from the Lender.

The Borrower assures that all the necessary approvals for availing the Facility and creating the security/securities have been obtained or shall be obtained.

The Borrower is entitled and empowered to borrow the Facility, provide the security documents, execute the promissory notes if any and all other documents and papers in connection with and upon execution of the same will create legal and binding obligations on the Borrower enforceable in accordance with their respective terms.

The Borrower confirms that the representations and warranties contained herein shall be deemed to be repeated by the Borrower on and as of each day from the date of this Agreement until all sums due or owing hereunder by the Borrower to the Lender have been paid in full, as if made with reference to the facts and circumstances existing on such day.

The Borrower shall at all times maintain sufficient funds in his/her/their bank account/s to ensure that the installment are received/realized by Lender and shall not close the said account till all the dues under the present Loan are satisfied or paid and no outstanding dues are pending under the Loan from the Borrower to the Lender.

The Borrower shall not be entitled to cancel or issue stop-payment instruction with respect to post-dated cheques for so long as facility (or any part of Borrower's Dues) is outstanding and any such act of Borrower shall be deemed to have committed with an intention to cheat Lender and avoid prosecution under the Negotiable Instrument Acts, 1881, and Lender shall be entitled to initiate appropriate criminal proceeding against the Borrower(s).

The Borrower shall promptly replace the post-dated cheques and/or the mandates, agreements and/or other documents executed for payments of installment and issue fresh post-dated cheques, mandates, agreements and/or other documents in lieu thereof to the satisfaction of Lender, if Lender is facing any difficultly/inconvenience/impediments for any reason whatsoever in presenting such cheques/ issuing debit instruction or if required any time by Lender at its sole discretion.

The Borrower(s) may, subject to prior approval by Lender, be permitted to swap/exchange the post-dated cheques issued to Lender with alternative post-dated cheques drawn on another (as approved by Lender) subject to payment to Lender of the "cheques swap" charge as specified in Application Form.

The Borrower shall not with out the approval of Lender (which approval may be given subject to such terms and conditions as may be stipulated by the Lender including the payment of minimum pre-payment amount, pre-payment premium or discount interest and/or any other charges, plus applicable interest tax or statutory levy), prepay the outstanding principle amount of facility in full or in part, before the due dates. In the event of any part payment of the facility is permitted by Lender, the repayment schedule/amount of installment(s) as specified in the Application Form shall be amended by Lender and the Borrower shall there after make payments of installments as per such amended schedule.

In case the Borrower is a salaried person, he shall not change / leave his current job without the permission of the Lender.

REPRESENTATION AND WARRANTIES FOR THE VEHICLE

The Borrowers shall be solely and exclusively responsible for the quality, condition, fitness and performances of the Vehicle and for getting/insuring delivery of the Vehicle from manufactures/dealers/sellers/Body-constructor, as the case may be, and Lender shall not be liable or responsible for delay in delivery and (non-delivery of the Vehicle or any demurrage cost or any defect or variation in the quality, condition, fitness and performances of the Vehicle or any guarantee or warranty given by the manufactures / dealers/sellers/Body-constructor, in respect thereof. Lender shall not be liable for, or bound by any representation or warranties whatsoever made by manufacture/dealer/seller/Body-constructor in respect of the Vehicle or any agent of such manufacture/dealer/seller/Body-constructor.

Where the Vehicle(s) is/are motor vehicle as defined under the Motor Vehicles Act, 1988 the Borrower shall, within 30 days from the date of approval of the Application Form or delivery of the Vehicle, have such Vehicle registered with appropriate Registering Authority, and submit a certified copy of the Registration Certificate to Lender. In the event such Vehicle is offered as security to Lender, the registration of the Vehicle with the relevant authority should also be clearly indicating the fact that such Vehicle is/are exclusively charged in favour of Lender. Wherever required/applicable (such as in the case of commercial vehicles / vehicles for hire), the Borrower shall also obtain all necessary permission / license from the concerned authority for plying/using the Vehicle across/in the State or area in which such Vehicle(s) is/are registered.

Where the Facility has been availed of for foreclosing an existing loan against any Vehicle and where the Vehicle needs to be registered with any authority under any law for time being in force, then the Borrower(s) shall within 15 days from disbursement of the Facility get the previous charge removed from the Vehicle certificate and/or the records of appropriate registering authority and have the Vehicle re-registered with such Registration Authority. In the event such Vehicle/s is/are offered as security to Lender, the registration of the Vehicle with relevant Authority should be made clearly indicating the fact that such Vehicle is/are exclusively charged in favor of Lender. The Borrower shall forthwith deliver a certified copy of Registration certificate (with necessary endorsement, as the case may be) to Lender.

Where full details of Vehicle (such as engine number/chassis number/serial number, registration number, etc., as required to be specified in the Loan Application Form) is/are not available at times of submitting the Application Form, the Borrower shall furnish all such details of the Vehicle to Lender, in such format as specified by Lender, within 7 days of the Vehicle or receipt of such details (such as registration number of vehicles) from appropriate authority.

In the event any security created in favour of Lender, the Borrower shall, if required by Lender affix plates / sticker on the Assets, indicating the fact of charge of the Vehicle in favour of Lender, while such plates/stickers shall be constantly affixed on the Assets so long as any portion of the Borrowers Dues remain outstanding from the Borrower to Lender and the charge has been released by the Lender, over the Vehicle/Assets.

Any such direct or indirect agreement /arrangement, lien, charge, encumbrance, hire, lease, transfer or parting with possession of the Assets, as referred to in the Agreement, shall be deemed to be an act of criminal breach of trust and cheating by the Borrower, Lender shall be entitled in such circumstance, without any prejudice to the other rights of Lender under and/or Loan Term, to initiate appropriate criminal proceeding against the Borrower.

Events of Default

Event of default shall deemed to have occurred if any of the following shall occur:

If any default or delay of more than 90 days shall have occurred in payment of EMIs or any part thereof and/or in payment of any other amounts due and payable to the Lender in terms of this Agreement and/or in terms of any other agreement(s)/document(s) which may be subsisting or which may be executed between the Borrower and the Lender hereafter; or

If default shall have occurred in the performance of any other covenants, conditions or agreements on the part of the Borrower under this Agreement or any other agreement(s) between the Borrower and the Lender in respect of the Facility or any other loan; or

If any information given by the Borrower to the Lender in the Facility Application Form or otherwise is found to be misleading or incorrect in any material respect or any representation or warranty referred to in Article 6 is found to be incorrect; or

If the hypothecated Vehicle on which the security for the Facility is created depreciates in value to such an extent that in the opinion of the Lender further security should be given and such security is not given, though demanded; or

If the Vehicle is sold, disposed off, charged, encumbered, sub-let or leased or let or otherwise alienated in any manner whatsoever without written approval of the Lender; or

If the Borrower fails to furnish any information or documents required by the Lender; or

If the Borrower fails to inform the Lender of the occurrence of any Event of Default or any event which after the notice or lapse of time, or both, would become an Event of Default; or

If a cheque/ECS / eNACH mandate in respect of any payment including but not limited to EMI is dishonored; or or there is insufficient balance in the Bank Account provided for ECS / eNACH

If the Borrower fails to deliver Post-Dated Cheques/ECS / eNACH mandate in accordance with the terms of the Facility or as and when demanded by the Lender; or

If any security for the Facility becomes infructuous or is challenged by the Borrower or any other person; or

If the Borrower makes a default in performance of any of the terms, covenants and conditions of any other loan or facility provided by the Lender to the Borrower; or

If the Borrower fails to furnish to the Lender detailed end use statement of the Facility as and when so required by the Lender within 7 days of receiving such request from the Lender; or

There is any change in the constitution, management or existing ownership or control of share capital of the Borrower (in case the Borrower is a Company or firm or limited liability partnership);

(n)Where the Borrower is an individual, if the Borrower commits an act of insolvency or makes an application for declaring himself an insolvent or an order is passed against the Borrower declaring him an insolvent / Where the Borrower is a partnership firm, if the Borrower, is dissolved or a notice of dissolution is given to it by any of its partners or if the Borrower or any of its partners commits an act of insolvency or makes an application for being declared insolvent or an order is passed declaring it or them or any of them an insolvent / Where the Borrower is a company, if the Borrower is unable to pay its debts within the meaning of section 434 of the Companies Act, 1956 or a resolution for winding-up of the Borrower is passed or any petition for its winding-up filed or any order for winding-up is made against the Borrower or if a liquidator is appointed in respect of any property or estate of the Borrower; or or borrower files for bankruptcy under Insolvency and Bankruptcy Code Bill, 2015

If the Borrower ceases or threatens to cease to carry on any of his business or gives notice of his intention to do so or of all or any part of the assets of his business or operation are damaged or destroyed or there occurs any change in the date of submission of the Application in the general nature or scope of business, operations, management or ownership of the Borrower which could have a material adverse effect; or

The Asset(s) is/are endangered/stolen or suffer total loss/damage due to any accident or an act of fraud.

8. Remedies of the Lender

8.1 On the happening of any of the Events of Default, Lender may, by a notice in writing to the Borrower and without prejudice to the rights and remedies available to Lender under the Loan Terms or any other Transaction Document or otherwise: (a) call upon the Borrower to pay all the Borrower's Dues in respect of the Facility and otherwise, and/or (b) withheld the delivery of the Vehicle, and/or (c) declare the security, if any, created in terms of/pursuant to the Loan Terms and/or the other Transaction Documents to be enforceable, and Lender, its representatives and/or such other person in favor of whom such security or any part thereof is created shall have, inter alia the following rights (notwithstanding anything to the contrary in the Loan Terms and/or the other Transaction Documents and irrespective of whether or not the entire Facility or Borrower’s Dues has/have been recalled) namely:

to enter upon and take possession of the Asset(s) in accordance with the provisions of the Loan terms; and/or

transfer or deal with the Asset(s) in accordance with the provisions of the Loan Terms.

8.2. Lender shall be entitled, at the sole risk and cost of the Borrower, to engage one or more person(s) to collect the Borrower's Dues and/or to enforce any security provided by the Borrower and Lender may (for such purposes) furnish to such person(s) such information, facts and figures pertaining to the Borrower(s), the security and/or the Vehicle(s) as Lender deems fit. Lender may also delegate to such person(s) the right and authority to perform and execute all acts, deeds, matters and things connected therewith or incidental thereto, as Lender deems fit.

8.3 Lender shall not in any way be liable / responsible, notwithstanding any thing to the contrary under any applicable laws, for any loss, deterioration of or damage to the Asset(s) on any account whatsoever whilst the same are in the possession of Lender or by reason of exercise or non-exercise of any rights and remedies available to Lender as aforesaid.

8.4 If one or more of the Events of Defaults shall have occurred, then, the Lender, by a written notice to the Borrower may declare the principal and all accrued interest and charges on the Facility which may be payable by the Borrower under or in terms of this Agreement and/or any other agreements, documents subsisting between the Borrower and the Lender, as well as all other charges and dues to be due and upon such declaration the same shall become due and payable forthwith and the security in relation to the Facility and any other loans shall become enforceable, notwithstanding anything to the contrary in this Agreement or any other Agreement/s or documents.

8.5 Without prejudice to the rights conferred in the Lender under this Agreement upon occurrence of an Event of Default, the Lender shall have all the rights conferred on secured creditors under any law including but not limited to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 or any amendment or re- enactment thereof.

8.6 If any Event of Default or any event which, after the notice or lapse of time or both would constitute an Event of Default shall have happened, the Borrower shall forthwith give to the Lender notice thereof in writing specifying such Event of Default, or such event.

8.7 All reasonable costs incurred by Lender after an Event of Default has occurred in connection with:

Preservation of the Borrower's assets (whether now or hereafter existing); or

Collection of amounts due under this Agreement

8.8 The Lender may issue any certificate as regards payment of any amounts paid by the Borrower to Lender in terms of this Agreement only it the Borrower has paid all amounts due under this Agreement to the Lender and the Borrower has complied with all the terms of this Agreement.

8.10 In the Event of Default, the Lender shall be entitled to communicate, in any manner it may deem fit, to or with any person or parsons with a view to receiving assistance of such parson or persons in recovering the defaulted amounts including but not limited to visit any property and/or any place of work of the Borrower.

8.11 Borrower hereby agrees as a pre-condition of the Loan given to the Borrower by the Lender that in case Borrower commits default in the repayment of the Loan or in repayment of interest thereon or any of the agreed installment of the Loan on due date/s, the Lender will have an unqualified right to disclose or publish the name of the Borrower, as the case may be, as defaulters, in such manner and through such medium as Lender in its absolute discretion may think fit.

8.12 No delay in exercising or omission to exercise, any right, power or remedy accruing to the Lender upon any default under this Agreement or any other agreement or document shall impair any right, power or remedy or shall be construed as a waiver thereof or any acquiescence in such default nor shall that affect or impair any right, power or remedy of the Lender in respect of any other default.

8.13 This Agreement shall become binding on the Borrower and the Lender on and from the data of execution hereof. It shall be in full force till the Facility is fully Amortized/repaid and any other monies due and payable to the Lender under this Agreement as well as all other agreements, documents which may be subsisting/executed hereafter between the Borrower and the Lender is fully paid.

Set Off

Lender shall have a paramount lien and right of set off on/against (i) all insurance proceeds whatsoever from the Asset(s), as well as (ii) all other monies, securities, deposits, interest, dividends of any kind of any kind and nature. including fixed deposits and bonds, and all other assets and properties belonging to the Borrower or standing to the Borrower credit (whether held singly or jointly with any other person), which are deposited with/under the control of Lender (or any of its group companies) whether by way of security or otherwise pursuant to any contract entered/to be entered into by the Borrower in any capacity or held by Lender for safe custody or otherwise, to the extent of interest and principal payable to lender and Lender shall be entitled and authorized to exercise such right of lien & set off against all such amounts and assets for settlement of the Borrower's Dues with or without any further notice to the Borrower. In this regard, any discharge given by Lender to its group companies shall be valid and binding on the Borrower. The joint account holder/s to such monies, securities, deposits and other assets is/are aware of, and have no objection to (a) the Facility applied for, (b) the Loan Terms, (c) using such monies from the joint accounts for paying/repaying the Facility and all other amounts due to Lender, and (d) Lender's rights of set off in the event of their default of the Loan Terms: It shall be the Borrower's sole responsibility and liability to settle all disputes/objections with such Joint account holders, if so required, and Lender shall be well within its rights to exercise the right of set off against the money lying in the Joint account/s or in any deposit/bond/other assets held jointly, for settlement of dues.

10. Insurance

10.1 The Borrower shall, for so long as any portion of the Borrower Dues is outstanding / payable to Lender, fully insure, and keep the Vehicle(s) so insured, at his own costs in the joint names of the Borrower and Lender, with the name of Lender recorded as 'the Loss Payee' in such Insurance policy/is. Such insurance required to be taken by the Borrower for the Vehicle(s) shall be standard comprehensive package policies covering (a) all comprehensive risks, including but not limited to riots, civil commotion, floods and such additional risks/liability to which the Vehicle(s) is/are normally exposed, and (b) unlimited third party liability risks. The Borrowers shall forthwith upon taking/renewing any such insurance policies furnish the copies of such insurance policy/ is to Lender within 7 days of taking/renewal, to confirm having complied with this obligation.

10.2 In the event of any failure by the Borrower to obtain such insurance policies and/or to furnish proof of the same to Lender, Lender may (but shall not be bound to) insure the Vehicle(s) at the Borrower's cost. If Lender pays the insurance premium, or any other monies, for/towards the Insurance of the Vehicle(s), the Borrower shall reimburse all such sums paid by Lender.

10.3 In the event of any loss or damage to the Vehicle(s) due to any accident, the first claim on any Insurance proceeds shall be that of Lender, which proceeds shall be applied by Lender towards the Borrower's Dues in terms hereof or such other manner as deemed fit by Lender. Further, and in the event of any total loss/damage to the Vehicle(s), if the claim amount settled by the insurance company is less than the total Borrower's Dues outstanding and payable by the Borrower, the Borrower shall immediately pay all the balance outstanding amounts of the Borrower's Dues to Lender. Lender is irrevocably authorised and entitled at its sole discretion to act on the Borrower's behalf, at the Borrower's sole risk and cost, and to take all necessary steps, actions and proceedings as Lender deems fit to safeguard its interests to receive all monies payable under any such insurance or under any claim made thereunder and to give a valid receipt therefor, and apply such proceeds in accordance with the terms hereof or such other manner as deemed fit by Lender.

10.4 The Borrower shall not be entitled to raise any claim against Lender in case Lender chooses not to take any action in relation to the insurance claims or proceedings and / or on the grounds that a larger sum or amount of claims/settlement might or ought to have been received or be entitled to dispute the liability of the Borrower for the balance amount of Borrower's dues remaining due after such adjustment.

11. Inspection

a. The Borrower shall permit inspection of all books of accounts and other records maintained by him in respect of the Facility to officials of the Lender. The Borrower shall also permit similar inspection by officials of such other companies, banks, institutions or bodies as Lender may approve and intimate to the Borrower.

b. The Lender shall have the right to create charge over the Vehicle in favor of any bank, institution or body by way of security for any refinance facility or any loan availed of by Lender from such bank, institution or body. Lender shall also have the right to transfer or assign the rights herein including but not limited to the mortgage over the Vehicle in favor of any bank, institution or body in connection with any sale or transfer of the Facility by Lender to them.

c. The Lender shall have the authority to make available any information contained in the Facility Application Form and/or any document or paper or statement submitted to the Lender by or on behalf of the Borrower and/or pertaining or relating to the Borrower and/or the Loan including as to its repayment, conduct, to any rating or other agency or institution or body as Lender in its sole discretion may deem fit. Lender shall also have the authority to seek and/or receive any information as it may deem fit in connection with the Facility and/or the Borrower from any source or person or entity to whom the Borrower hereby authorizes to furnish such information.

12. Disclosure

12.1 The Borrower hereby agrees and gives consent for the disclosure by the Lender of all or any such:

a. information and data relating to the Borrower;

b. information or data relating to any credit facility availed of / to be availed, by the Borrower;

c. default, if any, committed by the Borrower in discharge of the Borrower's obligation as the Lender may deem appropriate and necessary, to disclose and furnish to Credit Information Bureau (India) Ltd. (CIBIL), and any other agency authorized in this behalf by the Reserve Bank of India for individual or organizational.

12.2 The Borrower(s) understands that;

a. the Credit Information Bureau (India) Ltd. and any other agency so authorized may use, process the said information and data disclosed by the Lender in the manner as deemed fit by them, and

b. the Credit information Bureau (India) Ltd. and any other agency so authorized may furnish for consideration, the processed information and data or Vehicles thereof prepared by them, to banks / financial Institutions and other credit grantors or registered users, as may be specified by the Reserve Bank of India in this behalf.

12.3 The Lender may disclose to a potential assignee or to any person who may otherwise enter into contractual relations with the Lender in relation to this Loan Agreement such information about the Borrower as the Lender may deem appropriate.

12.4 The Borrower confirms that the Lender may for the purposes of credit reference checks, verification, etc. disclose any information/documents relating to the Borrower under this Agreement to any third party.

12.5 The Borrower further authorizes the Lender to disclose such information/documents to Reserve Bank of India, Income Tax Authorities, Credit Information Bureau, third parties, Credit Rating Agencies, Data banks, corporates, other banks, financial institutions or any other Government or Regulatory Authorities, statutory authorities, quasi-judicial authorities.

13. Securitisation

a. The Lender reserves the right to assign/sell/securitise the Facility with or without security, if any, in any manner by transferring and/or assigning or otherwise all its right, title and interest which the Lender deems appropriate and the Borrower hereby expressly agrees that in that event, the Lender is not required to obtain any permission or put the Borrower to any notice.

b. The Borrower shall be bound to accept any such securitisation and any such sale, assignment, or transfer and the Borrower shall accept such other party/is, as creditors exclusively or as a joint creditor with the Lender, or as a creditor exclusively with the right to Lender to continue to exercise all powers hereunder on behalf of any such other party.

Any cost in this behalf, whether on account of such sale, assignment or transfer or enforcement of rights and recovery of outstanding and dues shall be to the account of the Borrower. The Borrower undertakes to pay to third parties the difference between the Loan outstanding and the amount received by the Lender in the event of transfer of the portfolio to a third party.

Indemnification

The Borrower undertakes to indemnify and keep Lender and its officers/employees fully indemnified and harmless from and against all the consequences of breach of any of the terms, conditions, statements, undertakings, representations and warranties of this Agreement as also of any of its representations or warranties not being found to be true at any point of time, including any actions, suits, claims, proceedings, damages, liabilities, losses, expenses or costs (hereinafter referred to as "Claims") faced, suffered or incurred by the Lender. The Borrower hereby accepts and acknowledges to have clearly agreed and understood that this indemnity would cover all acts and omissions on the part of the warranties and/or representations of the Borrower. Similarly, in the event of any claims being made on the Lender, on account of any breach of warranty, representations, non-compliance of any applicable law, unauthorized act, fraud, deed or thing done or omitted to be done or undertaking made by the Borrower or its employees, agents, being false, the Borrower undertakes to pay on first demand made by the Lender of any amount on this account without any demur, reservation, contest, protest whatsoever within 7 working days of the demand being made.

Appropriation of Payments

Unless otherwise agreed to by the Lender, any payment due and payable under this Agreement and made by the Borrower will be appropriated towards such dues in the following order, namely: a) costs, charges, expenses, incidental charges and other monies that may have been expended by the Lender in connection with the recovery; b.)Additional Interest and/or liquidated damages on defaulted amounts; Prepayment Charge and fees; c.) EMI; and d) Principal amount of the Facility.

Services of Notices:

Any notice or request required or permitted to be given or made under this Agreement to Lender or to the Borrower shall be given in writing. Such notice or request shall be deemed to have been duly given or made when it shall be delivered by hand, mail or telegram to the party to which it is required or permitted to be given or made at such party's address specified below or at such other address as such party shall have designated by notice to the party giving such notice or making such request.

To the Lender: At the address of the Lender mentioned herein above.

To the Borrower: At the address of the Borrower stated in Address Proof of Borrower

17. Termination:

This Agreement shall come into effect from the date of execution of this Agreement and shall terminate only upon the Borrower making full repayment to the Lender of the Loan, interest thereon and all other charges and dues payable by the Borrower to the Lender under this Agreement and as and when the Lender issues No dues certificate to that effect.

The Borrower agrees / confirms as follows:

a. The Lender may return the documents of title to either/any of the Borrowers notwithstanding any contrary advice/intimation from either/any of the Borrowers at a later stage.

b. To keep alive the insurance policy/policies assigned in favor of the Lender by paying on time the premium as they fall due and produce the receipts to the Lender whenever required.

c. The Lender shall have the right to receive and adjust any payment that it may receive in connection with any insurance policy/policies against the Loan and alter the Amortization schedule in any manner as it may deem fit notwithstanding anything to the contrary contained in this Agreement or any other document or paper.

d. That the terms and conditions and all the covenants and details of the Schedule A hereunder shall be read and construed as part and parcel of these presents.

e. That the terms and conditions of this Agreement shall be binding on the legal representatives, heirs, executors, administrators, successors and assigns of the Borrower and or the successors and assigns of the Lender.

f. That the Borrower has read and understood this Agreement and in the event that the Borrower is illiterate and/or cannot read English language, he states the terms and conditions of this Agreement have been read over, translated and explained in detail in the vernacular language to the Borrower.

g. That this Agreement shall be governed by the laws of India and the courts as mentioned in Schedule A alone shall have exclusive jurisdiction in respect of any matter, claim or dispute arising out of or in any way relating to those presents or to anything to be done pursuant to these presents or in regard to interpretation of these presents or of any clause or provision thereof. This shall not, however, limit the rights of the Lender to take proceedings in any other court of competent jurisdiction including, but not limited to, the courts as mentioned in Schedule A hereunder.

Miscellaneous

a. In case of default, Lender has the right to recall the Loan and to repossess the Vehicle and/or to demand the Borrower to surrender the Asset/Vehicle and the Borrower shall forthwith comply with the same. In the absence of the Borrower falling to comply with the same, the Borrower is liable for criminal misappropriation, criminal breach of trust and such other civil and criminal consequences and proceedings without prejudice to Lender's other rights and remedies.

b. Lender has right to demand or ask the Borrower to produce the Asset for inspection at any time at their office or at any other designated place and the Borrower shall forthwith comply with the same. In the absence of the Borrower falling to comply with the same, the Borrower shall render himself liable for criminal misappropriation, criminal breach of trust and such other civil and criminal consequences and proceedings without prejudice to Lender's other rights and remedies.

c. If the Borrower or his group or family etc., have more than one agreement with or have availed any other facility from the Lender of whatsoever kind and if in any of the contracts or agreements, they have committed any breach or default, then the Lender has the right of lien and right to hold on to the security of all the assets under all the agreements even if in any of the agreements, the Borrower has paid off all the dues and/or the Asset has become free from any charge under such facility.

d. Lender has the exclusive right and sole discretion to appropriate all amounts received from the Borrower towards any of the agreements that the Borrower has entered into either in his own name or in the name of his family members or group notwithstanding the Borrower requests the Lender to appropriate the money to a particular agreement.

e. The Borrower agrees that when payments are made by the Lender directly to the dealers/sellers/Body-constructors (as approved by Lender in its sole discretion which is final and conclusive and binding on the Borrower) and if the Vehicle or Asset is not delivered within a period of 15 days, then unless permitted in writing by Lender, the Borrower is liable to repay the amount back to the Lender with interest 1 percent higher than the agreed interest rate per month immediately on the expiry of 30 days from the date of disbursement.

f. Lender shall have the right to part with details pertaining to the Loan, transaction and/or the Borrower to such agencies as may be required including Reserve Bank of India, Government authorities, rating agencies, credit rating bureaus, collection agencies, repossession agencies and such other agencies as may be required from time to time.

g. Lender has the right to and is hereby authorized to debit the Borrower's account with the actual amount of or an approximate amount where measuring such expenses accurately is not feasible and to collect all expenses that the Lender incurs in following up with the Borrower for payments including personal visits, agency charges, other out of pocket expenses, etc,.

h. The Borrower agrees that all taxes and duties arising from the Loan or the transaction of whatsoever nature, present or future, etc., state or central should be borne by the Borrower.

Further, the Borrower agrees that he is of sound mind and has read and gone through each and every clause of this Agreement and the acceptance thereof, if given by the Borrower in the manner given below will bind him in terms of this Agreement and his acceptance is made out of free will and without any undue influence.

This document is an electronic record in terms of Information Technology Act, 2000 and rules there under as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.

By clicking “I Agree” button or accessing, using or installing any part of the Service, the Borrower expressly agrees to that he has gone through, accepts and consents to be bound by all of the terms of this Agreement. If the Borrower does not agree to all of the terms of this agreement, the button indicating “I do not Agree” must be selected and the Lender will promptly cancel this transaction.

SCHEDULE – C

INSURANCE UNDERTAKING

Date:

To,

The Manager

Droom Technology Private Limited

Dear Sirs,

SUBJECT: INSURANCE UNDERTAKING FOR VEHICLE(S) ON LOAN

I wish & undertake to insure my Vehicle being purchased as mentioned in Schedule A. I am fully responsible for the Insurance of my Vehicle(s), and undertake to make sure that it is comprehensively insured at all times, and keep Droom Technology Private Limited indemnified of all same, Further, I will ensure that lien on my insurance policy is marked favoring Droom Technology Private Limited till the loan is fully repaid.

I am fully aware that my Droom Technology Private Limited Vehicle(s)Loan repayment is Independent of delivery\insurance claim processing/state of my Vehicle(s)