Letter of Continuity Format in Word
LETTER OF CONTINUITY
Place: Kolkata
To,
The Manager,
Star Finvest Limited
F-3, P3B, District Centre,
Saket, New Delhi - 110 001
Dear Sir(s),
I/We_Stabnet Tyres Limited.. a
company incorporated under the provisions of the Companies Act, 1956 /a
partnership firm registered under the provisions of the Indian Partnership Act,
1932/ sole proprietorship concern having its office/ place of business at
__________________________________acting through Mr/Mrs____________________,
who is duly authorized in that behalf vide board resolution dated ___________
(the “Borrower(s)”), enclose a
Promissory Note dated _______ for Rs _____________/- (Rupees
_____________________________) payable on demand which is given to you (“DPN”) as collateral security for
repayment to Star Finvest Limited, (hereinafter referred to as the “SFL”, including its successors and
assigns) of any sum now due or which may hereafter become due from me/us to SFL
in respect of Rs.__________________/- (Rupees
_____________________________________) (hereinafter referred to as the “Facility”) granted by SFL vide Facility
Agreement dated ____________. I/We hereby irrevocably and unconditionally
agree, confirm and undertake that:
1. the DPN shall operate as continuing security to you to be enforceable
for the repayment of the ultimate balance and/or all sums remaining unpaid
under the Facility now or hereafter, including all interest to become payable
in respect of / under the Facility or which may in future be advanced; and
2. we will remain liable on the DPN
notwithstanding payment made into the account of the Facility from time to time
or the Facility being reduced or extinguished from time to time or even if the
balance in the account of the Facility may be in credit.
Yours faithfully,
_________________________________________________
(Name and signature of the
Authorized Signatory)
Applicable
where the Borrower is a Company:
[The Common Seal of the Company
has been affixed
pursuant to its Board Resolution
dated ____________
in the presence of
Mr/Mrs._______________
who have affixed their signatures
hereto______________ Authorized Signatory of the Company]
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