Sample Template Example of Company's Revival Request Letter to Consortium Lead Bank to Renaissance Bank Loan & CC Limit ( Cash Credit Limit) in India in Word / .doc / Pdf
For and On behalf of ( Borrower )
Revival Letter
The
State Bank of India,
Voltas
House
14/1
Nariman Point
Mumbai
– 420 215
Dear
Sir,
We
refer to the Working Capital Consortium Agreement dated the ……………………..entered
into by us with you, as the Lead Bank and the Member Banks in respect of the
Working Capital facilities granted to us and /or agreed to be granted to us by
you, and the Member banks, hereinafter referred to as “the SBI Consortium “ and
the charge by way of Hypothecation created by us on our Current Assets as
mentioned therein to secure all sums standing at the foot of the Cash Credit
Account(s) or other Account(s) with you and the Member Banks in respect of such
facilities.
We
do hereby confirm that all the Security Documents executed by us in favour of
you and the Member Banks in respect of such Facilities are subsisting, valid
and effective and are fully enforceable against us.
We
do hereby acknowledge for the purpose of Section 18 of Indian Limitation Act,
1963 and in order to preclude any question being raised on limitation regarding
our liability to your Bank and the Member Banks for the payment of the
outstanding amounts in respect of the present as well as the future
indebtedness and liabilities under the said Cash Credit Account(s) or other
Account(s) together with interest, compound interest, additional interest,
liquidated damages, costs, charges, expenses and other monies in terms of the
said working capital consortium agreement, our liability shall remain in full
force with all relative securities, agreements and obligations as mentioned
therein .
For and On behalf of ( Borrower )
The Common Seal of
-------------------------------------- was hereunto affixed pursuant to the
resolution of the Board of Directors passed in that behalf on ----------in the
presence of --------------------------------
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