Document:

Exhibit 4.24

 

e-Stamp   lN-DL95545413329646P ;'i-,Jun-201710:57 AM 'i';iPACC CV)/ dl839103/ DELHI/   DL-DLH :Ci) '31N-DLDL8391 0392002884994209P' !!\TRA Oi'-IUNE f'VT LTO \riicle   5 General Agreement ''Jot Applicable , Certificate No, Certificate Issued   Date Account Refere1 1ce Unique Doc, Refecence Purchased by Description of   Document Property Description , Consideration Price (Rs,) (Zero) YATHA ONLINE   F'VT LTD , !Ci BA :f< LTD - : 'lA U-ILINic: 'VT LTD First Party Second   Party SL1mp Duty Paid By Stamp Duty Arnount(Rs,) iii1ree Hundred only) 0 lL   .: ;,· Nrite or type below this line. . ------.------------------------•• _   ."'Q. • ,.E'!! :::; For Yatra Online Private Limited For Yatra Online   Private Limited :Yl \ Authorised Stgnatory ' ::;uu;r,..-:,·P,I.·,.· 1. '''·'   ,,,v(;r,, ,.• ·-'' 1q;s " ' ··\'·"I··: ··'·r:il':':'i'l"-·Jl   c•J;;·-" ;,ny discre,x n,:y if1 the det<Jils on th1s Certincate and   as C<<rtifica!e sho,-:.' it i;v, i"i. '2. T.1e 1:.1dS c.: dlt   ;,.ingthe 1e 1i\lmacy 1c, or: th•c: uc· r:o; ·' .;.,.:t::;r_;r:t • 

    

 

INDIA NON   JUDICIAL e-Stamp Certificate No. Certificate Issued Date Account Reference   Unique Doc. Reference Purchased by Description of Document Property   Description Consideration Price (Rs.) IN-DL95590995421210P 21-Jun-2017 11:55   AM IMPACC (IV)/ dl775903/ DELHJI DL-DLH SUBIN-DLDL77590392102595989903P YATRA   ONLINE PVT LTD Article 5 General Agreement Not Applicable 0 (Zero) YATRA   ONLINE PVT LTD ICICI BANK LTD YATRA ONLINE PVT LTD 200 (Two Hundred only)   First Party Second Party Stamp Duty Paid By Stamp Duty Amount(Rs.) 0 lL ..,   ....•._ .. .•.. •• ••• .•• .••• ..Please write or type below this line.• .• .   . ••. ... 2. ._ ·-..., fJJ.lj. paAr !I r (lAM.JWMf + 't..ANvt'H..uJ. f et   Yan.o.-txuM1JJJ JuJ:;w (}UMJ..z·"'/2..-olr o k IGtu ta..-..k hJ.tvtt'h.PJ   .c :; <{ \ i For Yatra Online Private Limited For Yatra Online Private   Limited y') VY A orised Signatory < / '"'" '""'   Statutory Alert: 1. The authenticity of this Stamp Certificate should be   verified at "www.shcilestamp.com". Any discrepancy in the details   on this Certificate and as available on the website renders it invalid. 

    

 

-----------···-----------------•   WORKING CAPITAl EACIIIT'( AGREEMENT This Working Capital Facility Agreement   made on the 22"' day of June 2017 at Gurgaon set out in 5I between the   Borrower named in 5I, which expression shall, unless it be repugnant to the   subject or context, include its successors and permitted assigns of the ONE   PART AND ICICI 13ANK:IIMITED,a company within the meaning of the Compa-llies   Act, 2013 and a banking company within the meaning of Section S(c) of the   Banking Regulation Act, 1949 and having its registered office at ICICI Bank   Tower, Near Chakli Circle, Old Padra Road, Vadodara 390 007, Gujarat and   corporate office at ICICI Bank Towers, Bandra Kurla Complex, Mumbai 400 051,   Maharashtra and amongst others, a branch I office at the place specified in   5I (the "13 ', which expression shall, unless it be repugnant to the   subject or context, include its successors and assigns) of the OTHER PART. I   I I I I For Yatra Onlin For Yatra Online Private Limited ""'1"   ::,E - Borrower Bank .. IS052017.Vl 

    

 

;--- ---ARTICLE   I DEFINITIONS AND INTERPRETATION 1.1 DEFINITIONS In this Facility Agreement   (as defined hereinafter), unless there is anything repugnant to the subject   or context thereof, the expressions listed below shall have the following   meanings: "BD"1J" means a day on which the relevant office of   the Bank specified in Schedule I, or such other office as may be notified by   the Bank to the Borrower, is open for normal business transactions.   "CA-e.c.IM-AvvOM{}LeATw" or "CAL" means a letter as of   the date specified in Schedule I issued by the Bank to the Borrower   granting/extending the Facilities to the Borrower. The expression   "CAL" shall include allamendments to the CAL and renewal CALs.   "CA-e.c.IM-RAaeM.CAJ" shall mean and refer to the domestic credit   rating agencies such as CRISIL Limited, FITCH India and ICRA Limited and   internationalcredit rating agencies such as Fitch, Moodys and Standard 8:   Poor's and such other credit rating agencies identified and/or recognized by   RBI from time to time. "DvPowe.v" in connection with the relevant   Facilities, means the extent to which the Borrower may make drawals from time   to time under each of such Facilities upto the amount of the respective   Limits but not exceeding the value of the current assets, if any, provided as   security to the Bank for such of the Facilities as drawn by the Borrower less   the corresponding Margin. "D.u.. DM<{.0" means the date(s) on   which any amounts in respect of the Facilities including principal, interest   or other monies, fall due in terms of the Transaction Documents "FAgv'   means this Working Capital Facility Agreement together with all:Jits schedules,   annexures and CAL and shall include any amendments thereto. e» {j I !r   .._:s:s ·;s ·!l..E: "FEDAI" means Foreign Exchange Dealers   Association of India. :S Q) "Ci' means the goods described in the   relevant Transaction Documents. "1"'-CVe.o.;.ed.-Ccyfj)' means: .   (i) a reduction in the rate of return from the Facilities or on the Bank's   overall capi'al (including as a result of any reduction in the rate of return   on capital brought about :§y u... more capitalbeing required to be allocated   by the Bank); (ii) any additional or increased cost including provisioning as   may be required under or as may be set out in RBI regulations or any other   such regulations from time to time; or a reduction of any amount due and   payable under the Transaction Documents; (iii) which is suffered by the Bank   to the extent that it is attributable to the undertaking, funding or   performance by the Borrower of any of its obligations under the Transaction   Documents. "I· means any indebtedness (whether actual or contingent) of   the Borrower at any time for or in respect of monies borrowed, contracted or   raised (whether or not for cash consideration) or liabilities (whether actual   or contingent) contracted by whatever means (including under guarantees,   assumption of financial obligations, indemnities, derivative transactions,   acceptances, credits, deposits, debentures, hire-purchase and leasing).   ForYAatra'O'n"lin'e"P"riv"ate Limited ,,,.lra_r_y   B_o-rr_o_w_e_r ,,-----B-a-nk---------, 2 

    

 

C<n).eJ'   means the Insolvency and Bankruptcy Code, 2016, "I6 including all   amendments and replacements made thereto and all rules and regulations framed   thereunder. "JVI WJ., At0<-v.s-e-Effe-of' means the effect or   consequence of any event or circumstance which is or is likely to be: (i)   adverse to the ability of the Borrower or any person to perform or comply   with any of their respective obligations under the Transaction Documents in   accordance with their respective terms; or (ii) prejudicial to any of the businesses,   operations or financial condition of the Borrower or its project(s) or of any   person who is party to any of the Transaction Documents. "O or"   means any or each of the Borrower, and any other person providing Security,   guarantee or any contractualcomfort in respect of the Facility.   "P<M"poj-<J' means the purpose(s) for which the Facilities   have been availed of by the Borrower from the Bank and as more particularly   specified in the CAL. "RBI" means the Reserve Bank of India.   "SWIFT" means Society for World Wide International Financial   Telecommunications, which expression shall include its successors and   assigns. "TvD' include this Facility Agreement, the CAL, all other   agreements, instruments, undertakings, indentures, deeds, writings and other   documents whether financing, security, in the course of trade or otherwise   executed or entered into, or to be executed or entered into, by the Borrower   or as the case may be, any other person, in relation, or pertaining, to the   transactions contemplated by, or under the Facility Agreement or   Transacti(jj!. 1:' .8 -·E :::i Documents, and each such Transaction Documents   as amended from time to time. i _1 ;;;' C0i5> 1.2 INTERPRETATION "*   & (]) "0 · In the Facility Agreement, unless the contrary intention   appears: (i) -n 0 (a) a reference to: 0 an agreement I document I undertaking   I deed I instrument I indenture I writin!lo includes all amendments made   thereto from time to time as also all schedules\i; >-annexures and   appendices thereto; . . "amendment" includes a supplement, 0   modification, novation, replacement or reLL enactment and "amended"   is to be construed accordingly; "assets" include all properties   whatsoever, both present and future, (whether tangible, .intangible or   otherwise), including but not limited to, Intellectual Property Rights,   investments (held directly or indirectly), cash·flows, revenues, receivables   rights, benefits, interests and title of every description;   uauthorisation" includes an authorisation, consent, clearance, approval,   permission, resolution, license, exemption, filing and registration; For   Yatra Online Private Limited "'"''"''""'ro-ry   B_o_r_ro_w_e_rr--------B-a_n_k , 3 ====;;,o=····.. 

    

 

"borrower"   includes, as the context may permit or require, in the case of more than one   borrower, each of the borrowers; "encumbrance" includes a mortgage,   charge, lien, pledge, hypothecation, security interest or any right of any   description whatsoever; "law" shall mean, applicable, constitution,   statute, law, rule, regulation, ordinance, judgment, order, decree,   authorisation, or any published directive, guideline, notice, requirement or   governmental restriction, having the force of law in any jurisdiction; and   "person" includes an individual, corporation, partnership, joint   venture, association of persons, trust, unincorporated organisation,   government (central, state or otherwise), sovereign state or any agency,   department, authority or political subdivision thereof, international   organisation, agency or authority (in each case, whether or not having   separate legal personality) and shall include their respective successors and   assigns and in case of an individual shall include his legal representatives,   administrators, executors and heirs and in case of a trust shall include the trustee   or the trustees for the time being. (b)the singular includes the plural (and   vice versa); , 0 (c) the headings in the Facility Agreement are inserted for   convenience of reference only and are to be ignored in construing and   interpreting the Facility Agreement; (d) reference to a gender shall include   references to the female, male and neuter genders; (e)all approvals,   perm1ssJons, consents or acceptance required from the Bank for any matter   shall require the 'prior', 'written' approval, permission, consent or   acceptance of the Bank; (f) reference to the words 'include' or 'including'   shall be construed without limitation; (g) words and abbreviations which have   well known technical, trade or commercial meaning, are used in this Facility   Agreement in accordance with such meaning; (h) in the event of any   disagreement or dispute between the Bank and the Borrower regarding the   materiality, likelihood, or reasonableness of any matter arising out of the   Transaction Documents, the opinion of the Bank shall be final and binding on   the Borrower. , 0 (ii) To the extent of any inconsistency or repugnancy   between the terms of the CAL and the Facility Agreement, the terms of the CAL   shall prevail for all intents and purposes. For avoidance of doubt, if a   wider language is used in the Facility Agreement, in respect to a stipulation   which is also reflected in the CAL, a harmonious interpretation shall be   adopted so that the Bank derives the benefit of the language used in the   Facility Agreement. ARTICLE II TERMS OF THE FACILITIES The Borrower agrees to   avail from the Bank and the Bank, at the request of the Borrower, agrees to   grant I extend to the Borrower various working capital facilities upto   overall limits (the "Ove-r-m Li-wWIY') in the aggregate not exceeding   amounts specified in the CAL hereof, For Yatra Online Private Limited   ""''s;goo<o r ----B-o-rr-ow-er------,1-----B-a-nk--------, 

    

 

subject to the   terms and conditions contained in the Transaction Documents. The aforesaid   working capital facilities upto the amounts specified in the CAL are   hereinafter referred to as the "Fo.cMMy" or "F ', which   expression shall, as the context may permit or require, mean any or each of   such Facilities, or so much thereof as may be outstanding from time to time.   The Bank shall have the right to review the Facilities at periodical   intervals whereupon the Facilities may be continued/cancelled/ reduced based   on conduct and utilization. 2.2 The amounts upto which the Borrower can draw   under each of such Facilities shall not, at any one time, exceed sums I   limits (the "Li.MM-W') specified against each of such respective   Facilities in the CAL. Provided, however, the aggregate amounts of all the   Limits shall not at any point of time exceed the amount of the Overall Limits,   utilization of which shall be within the maximum permissible bank finance   limits as stipulated by the Bank from time to time. All outstanding amounts   of interest, commission, discount, charges and other monies in respect of the   respective Facilities, whether debited to the Account or not, shall also be   included in determining the availability of the Overall Limits I respective   Limits. 2.3 The Borrower agrees to comply with the terms set out in this   Facility Agreement, the CAL, the schedules and annexures hereof, and other   Transaction Documents. This Facility Agreement shall become binding on the   Borrower and the Bank on and from the date mentioned in the Schedule I. It   shall be in force till all the monies due and payable under the Transaction   Documents are fully paid off by the Borrower to the Bank. Unless otherwise   specified in the CAL, the Borrower shall repay the Facilities on demand to   the Bank. In the event, there are more than one Borrower, each of the   Borrowers shall be jointly and severally liable to the Bank for performance   of all its obligations under this Facility Agreement and the Transaction   Documents (including repayment of the Facility and interest thereon). The   Borrower shall, as required, by the Bank open cash credit account(s) or other   account(s) (the "A ', which expression shall mean any or each of such   account(s), as the context may permit or require) at the branch(es) of the   Bank as is specified in the CAL or the Facility Agreement or such other   branch as may be intimated to the Borrower by the Bank from time to time, for   availing the Facilities upto the respective Limits. The Borrower shall, as   required by the Bank, maintain such margin(s) (the "fv!tW9lHJ') in   respect of the Facilities as are specified in the CAL, during the subsistence   of the Facilities. The Bank shall be entitled to vary the Margin and the   Borrower shall thereafter be bound to maintain such revised Margin   notwithstanding any Margin earlier agreed. 2.4 The Facility Agreement shall   be operative for the balance due by the Borrower, from time to time, to the   Bank in the Account relating to the relevant Facilities and such Account   shall not be considered as closed by reason of such Account being brought to   credit at any time or from time to time or of its being drawn upon to the   full extent and afterwards brought to credit and the Facility Agreement will   continue to be operative and unaffected until such relevant Facilities are   terminated and all monies in respect thereof are repaid in full to the   satisfaction of the Bank. 2.5 2.6 The Borrower shall not, without the   approval of the Bank, prepay the outstanding principal amounts of the   Facilities which are in the nature of loans, in full or in part, before the   Due Dates. 2.7 The Borrower unconditionally agrees and undertakes to get   itself rated by a Credit Rating Agency within a period of 6 (six) months from   the date of CAL I renewal of the Facilities or within such period and/ or at   such intervals as may be decided by the Bank, failing which the Bank shall   have the right to review the applicable interest rate and/or costs, charges   and expenses, whicb s'H'll be payable by the Borrower to the Bank for   extending the Facilities. For Yatra Online Private Limite ART/GLE Ill v   Authorised Sig[at ry tra 0nline private l.,_i,_,m.::•t:.:e:_d_--"'Bo"'r'-'ro'-'w"e'-r------/;1-----'B"'a"'nk::_   _J For Ya c=c=.=--bl . d ignai<it'i'lonlyr==="'= · c 

    

 

TE':R/1115 OF   DISBURSE/IIIENT I DRAWAL 3.1 Subject to the compliance of the terms and   conditions of the Transaction Documents, the Facilities may be drawn down by   the Borrower, out of the Account, from time to time or disbursed in   installments. The Bank may, at the request of the Borrower, make   disbursements or allow drawals under the Facilities by cheques I pay orders I   electronic modes I authorisations and I or by issuance of BGs and I or LCs   and I or co-acceptance I acceptance of Bills by the Bank. 3.2 The Borrower   shall at all times confine the drawals out of the relevant Facilities within   the respective Drawing Power unless specifically permitted by the Bank at its   sole discretion. In the event of any excess drawings, all the terms and   conditions of the Transaction Documents, including the benefit of the   securities created shall stand extended to cover such excess drawings. The   Borrower agrees that grant of such excess drawings to the Borrower shall be   liable to be suspended I discontinued I revoked by the Bank without any   notice to the Borrower. The Borrower shall repay all such excess drawings on   demand unless otherwise specified by the Bank. 3.3 In the event any monies   are remaining due and payable by the Borrower to the Bank, under the   Transaction Documents, the Bank shall be entitled to reduce the availability   of the amounts of the Overall Limits and I or adjust such monies against the   respective available Limits and all such adjustments shall be treated as   drawals by the Borrower. I I ! ARTICLE IV INTEREST, C0/111/IIIISSION,   CHARCiES AND PAY/IIIENTS 4.1 The Borrower shall pay to the Bank interest,   commission, discount, fees and all other charges on the amounts outstanding   from time to time under the Facilities, at the rate(s), on the date(s) and in   the manner specified in the CAL or as modified by the Bank from time to time.   The Borrower shall reimburse all sums paid and I or expenses (including that   for preservation, protection or enforcement of the Borrower's assets)   incurred by or on behalf of the Bank with interest at the rate applicable to   the Facilities from the date of payment till such reimbursement, within 15   (fifteen) days from the date of demand, and the Bank shall be entitled to   debit the same to the relevant Account of the Borrower. The interest payable   by the Borrower shall be subject to the changes based on guidelines I   directive issued by RBI to banks from time to time and the consequent changes   made by the Bank. I 1 I 4.2 In the event of default in payment of any amount   under any of the Facilities on the Due Date(s) or in respect of excess   drawings as specified in Article Ill above, the Borrower shall pay additional   interest at the rate specified in the CAL ("lwft.f-e#'), on the overdue   amount, from the Due Date upto the date of actual payment. The Borrower   acknowledges and agrees that the AdditionalInterest is reasonable and that it   represents genuine pre-estimates of . the loss expected to be incurred by the   Bank in the event of non-payment of any monies by the Borrower. I 4.3 The   Borrower agrees, declares and confirms that where interest is charged by the   Bank at a concessional rate(s) on any of the Facilities granted by the Bank   to the Borrower under any 'interest subsidy scheme' or any other similar   scheme(s) formulated by the government and I or RBI and /or any other   authority from time to time and in the event of the withdrawal, modification   and /or variation of such scheme(s), the concessional rate(s) of interest   shallstand withdrawn and the rate(s) of interest of the Bank applicable at   such point of time to such Facilities shallbecome effective from the date   (hereinafter referred to as the "So.i.Q., DOJ{-e}') of such withdrawal,   modification and I or variation of such scheme(s) and the Bank shall become   entitled to charge and the Borrower shall be liable to pay interest at such   usual rate(s) from the Said Date. In case the relevant Facilities are eligible   for cover under any 'guarantee scheme', I'• !. For Yatra Online Private   Limited }Authorised SiJ'-'a,_,_to"'r'-'v :=_Ba,r-"ro,_,w_,_,e::_r   -Jl -----'B"'a"'nk"---_j ==   fOQf.)'<ttca-Online_..Rrlv.ateLlrnit !J 

    

 

the Borrower   >hall bear the guarantee fee paid I to be paid in connection with such   Facilities; such guarantee tee may be debited to the relevant Account and   shall be treated as part of the Facilities and shall carry interest at the   rate specified in the CAL. 4.4 Interest on the outstanding amounts under the   Facilities I discount or other charges shall be calculated on the daily debit   balance of such Account on the footing of compound interest with monthly or   such other rests as may be specified in the CAL or decided by the Bank from   time to time. The interest shall be computed on the basis of 365 (three   hundred and sixty five) days a year for Facilities denominated in Indian   Rupee and 360 (three hundred and sixty) days a year for Facilities   denominated in currencies other than Indian Rupee, and the actual number of   days elapsed. Such interest shall be paid by the Borrower when debited to the   Account. If the Due Date in respect of any amount payable under the   Facilities falls on a day which is not a Business Day, the immediately   preceding Business Day shallbe the De Date for such payment. 4.5 The Borrower   shall bear all taxes, other imposts, costs, charges, fees, levies and duties   including stamp duty and relevant registration and filing charges in   connection with the Transaction Documents (including any differentialor   additional duties and taxes which may be required pursuant to the provisions   of the applicable laws from time to time), as may be levied from time to time   by the government or other authority including those incurred by the Bank in   connection with the Facilities. In the event of the Borrower failing to pay   the monies referred to above, the Bank shall be at liberty, but shall not be   obliged to pay the same. The Borrower shall reimburse promptly and without   any demur all sums paid by the Bank in accordance with the provisions   contained herein. I l 4.6 All payments by the Borrower under the Facility   Agreement shallbe made free and clear of and without any deduction I   withholding, except to the extent that the Borrower is required by law to   make payment subject to any deduction I withholding of taxes. Provided that,   all taxes required by law to be deducted I withheld by the Borrower from any   amounts paid or payable including but not limited to interest, commission, fees,   discount, service and other charges under the Facility Agreement, shall be   paid by the Borrower when due and the Borrower shall, within the statutory   time frame prescribed under the law or 30 (thirty) days of the payment being   made, whichever is earlier, deliver to the Bank satisfactory evidence that   the tax has been duly remitted to the appropriate authority and tax deduction   certificates delivered to the Bank. 4.7 The Borrower shall, within 3 (three)   Business Days of a demand by the Bank (in a form and manner as it may deem   fit), pay the amount of any Increased Costs incurred by the Bank as a result   of (i) the introduction of or any change in (or in the interpretation,   administration or application of) any law or regulation; (ii) compliance with   any law or regulation made before or after the date of the Facility Agreement   (including any law or regulation concerning capital adequacy, prudential   norms, liquidity, reserve assets or tax) or (iii) in the event of the Bank   being called upon to pay any additional amount by a foreign lending agency in   terms of their respective financing agreements or on account of factors   beyond the.controlof the Bank. ., 0 4.8 The Borrower agrees, declares and   confirms that, notwithstanding any terms and conditions to the contrary   contained in the Transaction Documents, the Bank may, at its absolute   discretion, appropriate any payment made by the Borrower under the   Transaction Documents/ any amount realised by the Bank by enforcement of   security or otherwise, towards the dues payable by the Borrower to the Bank   under the Transaction Documents and I or other agreements entered into   between the Borrower and the Bank and in any manner whatsoever. ARTIGLEV   SECURITY 5.1 SECURITY . for '(attra Onlin pnvat e umited ,=----B-o-rr-ow_e_r-------B-a_n_k   , s·gnaW• 1 1 7 uth risedc\ -e-?11umi ---'====·.-cc===---'= = - - ====···   ''atra Qn In II for ' .f\ . - f"Aft;b 

    

 

The Facility   together with all interest, liquidated damages, fees, premia on prepayment,   costs, charges, expenses and other monies whatsoever stipulated in or payable   under the Transaction Documents shall be secured by such security, if any, as   stipulated in the CAL ("SUAM-i.oly"), which shall be created and   perfected in a form and manner satisfactory to the Bank. 5.2 CREATION OF   SECURITY (i) The Borrower agrees and undertakes that the Borrower and I or   any other person (collectively referred to as the "SUAM-i.oly Pv ")   providing Security: (a) shall make out a good and marketable title to its   properties, present and future, to the satisfaction of the Bank and comply   with all such formalities as may be necessary or required for the said   purpose; , (b) shall notify the Bank in writing of all its acquisitions of   immoveable properties and secure the same in favour of the Bank, in such form   and manner as may be decided by the Bank; (c) shall, upon request of the   Bank, provide such additional security and/or Margin including cash margin to   the satisfaction of the Bank, if, at any time during the subsistence of the   Facility Agreement, the Bank is of the opinion that the Security provided, or   the relevant Margin is or will become inadequate. (ii) The Bank shall have   the sole discretion to decide whether or not to accept any particular asset   as security for the Facility. The Bank shall be entitled to have all the'   assets offered as security for the Facility, valued by an appraiser appointed   by the Bank in accordance with the prevalent market practice, at the cost of   the Borrower and the Security Provider agrees and confirms to give all the   required assistance I co-operation to such appraiser for such valuation and   the said valuation shall be binding on the Security Provider. The Borrower   agrees and confirms that: (a) the indigenous raw materials, consumable stores   and spares shall be valued at cost, current market rates, government   controlled rates or invoice rates, whichever is the lowest; (b) imported raw   materials may be valued at landed cost (including invoice value plus customs   duty and other applicable duties) but excluding sales-tax and demurrage) or   market price whichever is lower; (c) work in progress shall be valued at raw   materials at cost plus factory overheads; (d) finished goods shall be valued   at cost, current market rates, government controlled rates or Borrower's/Security   Provider's selling price, whichever is the lowest. , 0 (iii) The Borrower   declares and assures the Bank that the Security Provider shall maintain   regular turnover in the goods, movables and other assets hypothecated and I   or pledged to the Bank. (iv) All Security, other than those in respect of   which the Bank hilS provided a timeline for creation and/or perfection, shall   be created and all formalities thereof completed in a form and manner   satisfactory to the Bank as a condition precedent to any disbursement under   the Facilities. I (v) The Bank may at its sole discretion make disbursements   out of the Facilities pending creation and/or perfection of full and final   Security. In such event, the disbursements made by the Bank pending creation   and/ or perfection of such Security shall carry Additional Interest as   indicated in the CAL calculated from the date of disbursement of the   Facilities or expiry of the timeline, if any, for creation and/ or perfection   of such security specified in the CAL, till creation and/ or perfection of   such security to the satisfaction of the Bank. I i r For Yatra Online Private   Limited r,,;.,;';1L11810 ___r_y_   ,B:o:O:_:rr_o:O.:.:W.=er'--------,B/;-I-----'B:O:a'-'nkc:_ _j For Yatra   Online Private Limited ·-·--- ---------. ····-··------------------- --'- ./   Authorised Signatory 

    

 

(vi) Security,   if any, created in terms of the Facility Agreement shall continue to secure   the Facilities until such Security is specifically released by the Bank. 5.3   INSURANCE (i) The Borrower shall ensure that the Security Provider shall, at   all times, keep insured upto the reinstatement value thereof, as approved by   the Bank (including surveyor"s and architect"s fees), the assets   charged I to be charged to the Bank and such of its other assets as are of an   insurable nature against all risks including under Public Liability Insurance   Act 1991, if applicable. (ii) The Borrower shall ensure that the Security   Provider shall duly pay all premia and other sums payable for the aforesaid   purpose. · The insurance in respect of the assets charged/to be charged shall   be taken in the joint names of the Security Provider and the Bank or the   Bank's name should be noted as first loss payee on such insurance policies.   The Borrower shall deliver to the Bank originals of all policies of insurance   and renewals thereof and endorsements thereto within 10 (ten) days from the   date of issuance. (iii) The Borrower agrees that, in the event of failure on   the part of the Borrower I the Security Provider to insure the assets or to   pay the insurance premia, the Bank may at its sole discretion, without any   obligation, get the assets insured or pay the insurance premia and get such   amounts reimbursed by the Borrower together with interest as applicable to   the Facilities and the Bank shall be entitled to debit the Borrower's Account   with such amounts. (iv) Until all the dues in respect of the Facilities are   paid in full, the Borrower shall forthwith pay I cause to be paid to the Bank   all monies received by the Borrower or the Security Provider under any   policy(ies) of insurance and until payment to the Bank of monies received by   the Borrower or the Security Provider under any policy(ies) of insurance, the   Borrower shall hold I cause to be held the same in trust for the Bank. 5.4   CiUARANTEE I CONTRACTUAL COMFORT The Borrower shall procure and deliver to   the Bank, guarantees or any contractual comfort as stipulated in the CAL, in   a form and manner acceptable to the Bank. The Borrower shall ensure that the   guarantor/contractual comfort provider observes all the covenants, terms,   conditions, restrictions and prohibitions under the guaranteeIcontractual   comfort and agrees that any violation of the same shall constitute an Event   of Default. , 0 ARTIGLEVI REPRESENTATIONS, WARRANTIES, COVENANTS &   UNDERTAKINCiS The Borrower hereby, makes the representations, declarations   and warranties as given below and confirms that the same will continue to   remain true, correct, valid and subsisting in every respect till the   Facilities are repaid in full to the satisfaction of the Bank: 6.1   REPRESENTATIONS AND WARRANTIES (i) All the information provided by the   Borrower to the Bank are true and accurate in all material respects, are not   misleading and does not omit any fact, the omission of which would make any   fact or statement therein misleading. (ii) All the licenses, permits and   authorizations required for carrying on its business or industry have been   obtained and are in full force and effect and it is in compliance in all   respects with all applicable laws, and has good title to, or is otherwise   entitled to use its For Yatra One PrivateLimi1Le_d   _,Bo,r-"roe.:w.:..:eo:_r ----!I -----'B"'a"'n"-k-----'   buthorised Signatory For Yatra Online Private Limited 9 in 

    

 

--1 I assets.   (iii) Unless otherwise permitted by the Bank: (a) the Borrower has no   subsisting Indebtedness; (b) there are no encumbrances subsisting or in   existence on any of the Borrower's assets, (c) the Borrower has no   subsidiaries and holds no equity interest in any other person, and (d)the   Borrower has not engaged in any business or activities, either alone or in   partnership or joint venture. (iv) The Borrower has complied in all material   respects with all taxation laws in all jurisdictions in which it is subject   to taxation and has filed all tax returns and paid all taxes and statutory   dues due and payable by it, and to the extent any tax is not due or is   disputed, the Borrower has established adequate reserves for the payment of   such taxes and statutory dues. (v) The financial statements provided by the   Borrower were prepared in accordance with the generally accepted accounting   principles and give a fair and true view of the financial condition as on the   date on which they were prepared and there are no undisclosed liabilities,   contingent or otherwise and the accounts have been duly audited and there has   been no Material Adverse Effect since the date on which those accounts were   drawn up. No litigation, arbitration, administrative or other proceeding   against the Borrower or any of its assets before any court, tribunal,   authority or agency, has been initiated or is threatened to be initiated   which, if adversely determined, might have a Material Adverse Effect. (vi)   (vii) No litigationor other proceedings against the Borrower or of any or all   of its assets before any court, tribunal, authority or agency has been   initiated or is pending for its insolvency, bankruptcy, winding up,   dissolution, or for the appointment of a receiver, administrator,   administrative receiver, trustee or similar officer. (viii) Except to the   extent disclosed to the Bank, all the Borrower's contracts .or agreements   with, or any commitments to, any affiliate, related party or group company   (if applicable) are on arm's length basis. I I (ix) All loans, advances and   other monies advanced by the directors, promoters and I or their friends and   relatives or any of them ("Pv({v ') and any other unsecured creditor   shall stand and be regarded as subordinate debt in relation to the Facility.   The Borrower shall not repay the said loans and advances of the Promoter   Group in whole or in part or pay any interest thereon until such time as the   entire outstanding Facility is repaid in full. I (x) · Neither the Borrower   nor any other person benefiting in any capacity·, either directly or   indirectly, in connection with or from the Facility Agreement and/or any   instruments and/or payments thereunder is a Specially Designated National   ("SDN") and/or otherwise sanctioned, under the sanctions   promulgated by the United States (including its Office of Foreign Assets   Control's ("OFAO')), India, United Nations, European Union, the   jurisdiction of the Facility office and/or any other country/jurisdiction   (collectively, the "5 '). The Borrower shall ensure that the transactions   do not violate any Sanctions or any sanctioned persons or entities are   involved in the transactions. The Borrower agrees that it shall not avail of   the Facilities or use the proceeds of the Facilities in any transaction with,   or for the purpose of financing the activities of, any person currently   subject to any Sanctions as aforesaid. !.. I l I For Yatra Online Private   Limited \ ·L Autsed SigJ1!1l!.OrDv'--_...2'B:"!or'.':ro w e=.r ----)l   ---_cB a n"'-k _ 10 === F;orYatra Online Private limited ===·------··-····---------··---   --··=·--=·=· ===«r==ir ri . nMtM• 

    

 

(xi) the   Sanctions may become applicable with respect to the Facilities and/ or   transactions thereunder, including documentary credits, guarantees issued,   disbursements, payments, purpose and/or end use of the Facilities, origin or   shipment of goods manufactured through certain countries, ports, vessels,   liners, certain persons and entities (including correspondent banks and the   Facility office). Consequently, disbursement, issuance, payment and/or   processing under the Facilities by the Bank may become subjected to the   Sanctions and the Bank shall have the unconditional right to refuse to   process any transactions that violate/may violate any Sanctions. (xii) The   execution or entering into by the Borrower of the Transaction Documents   constitute, and its exercise of its rights and performance of its obligations   under the Transaction Documents will constitute, private and commercial acts   done and performed for private and commercial purposes. (xiii) The Borrower   is duly incorporated under the laws of India, and has the competence, power   and authority to: (a) enter into the Transaction Documents; (b) avail the   Facility; (c) own its assets and carry on its business and operations as it   is being or is proposed to be conducted; (d) exercise its rights and perform   its obligations under the Transaction Documents and (e)perform all other   actions required to authorise the execution of the Transaction Documents. The   entry into, delivery and performance by the Borrower of, and the transactions   contemplated by the Transaction Documents do not and will not conflict with:   (a) any law; (b) the constitutional documents of the Borrower; or (c) any   document or contract which is binding upon the Borrower or on any of its   assets. I I (xiv) (xv) All assets of the Borrower which are of insurable   nature are and shall, at all times, be kept insured upto the reinstatement   value thereof, to the satisfaction of the Bank. (xvi) No Event of Default has   occurred or is subsisting or might result from execution of the Transaction   Documents, or availing of the Facilities by the Borrower. (xvii) The Borrower   acknowledges that the Facility provided is a commercial transaction and   waives any defense available under usury or other laws relating to charging   of interest. , 0 (xviii) Neither the Borrower nor any director or promoter of   the Borrower has been declared to be a wilful defaulter, The Borrower shall   not induct a person identified as wilful defaulter in the capacity of   director or promoter. In the event the person so inducted is found to be a wilful   defaulter, the Borrower shall take expeditious and effective steps for   removal of such person. I I· 1 (xix) Except to the extent disclosed to the   Bank: (a) No director of the Bank is: a director, manager, managing agent,   employee or guarantor of the Borrower, or of a subsidiary of the Borrower, or   of the holding company of the Borrower, or holds substantial interest, in the   Borrower or a subsidiary or the holding company of the Borrower and no   director of any other bank (including scheduled co-operative banks), or   directors of subsidiaries/trustees of mutual funds/venture capital funds set   up by the Bank or any other bank holds substantial interest or is interested   as director or as a guarantor of the Borrower and the Borrower is in   compliance with all Applicable Laws including RBI's 'Master Circular on Loans   and Advances', as amended and replaced from time to time. (b) No relative (as   specified by RBI) of a Chairman I Managing Director or director of banking   company (including the Bank) or their subsidiaries or trustees of mutual I_ I   For Y'atra o:,;ne Private Liml"ted l'\-ihl1)y . Borrower . Bank -   uthorised SignatLo-ry---===-----}11....------==-----' For Yatra Online   Private Limited --·--... ··---------·-·······--· ·--------·--------·   ·······-·- 

    

 

funds/venture   capital funds set up by a banking company (including the Bank) or a relative   of senior officer (as specified by RBI) of the Bank, hold substantial   interest or is interested as a director or as guarantor of the Borrower. 6.2   COVENANTS AND UNDERTAKINCiS (i) The Borrower shall promptly notify and/or   deliver to the Bank: (a) if the Bank so requires within such time and in a   manner as may be acceptable to the Bank, a certificate from its statutory   auditor or a practicing chartered accountant, regarding the end use of the   Facility and that the Facility has been utilised for the Purpose, and not   diverted or applied for any other purpose. (b) of the occurrence of any event   or the existence of any circumstances which constitutes or results in any   declaration, representation, warranty, covenant or condition under the   Transaction Documents being or becoming untrue or incorrect in any respect.   (c) of any circumstances and conditions (including any material loss or legal   proceedings) which shall have a Material Adverse Effect. (d) of any action or   steps taken or legal proceedings started by or against it in any court of law   for its winding-up, dissolution, administration or re-organisation or for the   appointment of a receiver, administrator, administrative receiver, trustee or   similar officer of the Borrower or of any or all of its assets. (e)of the   occurrence of an Event of Default (or a likelihood thereof), and the steps,   if any, taken to rectify the same. (f) of any loss or damage which the   Borrower may suffer due to any event or circumstance or Act of God. (g) of   any change in the directors or management set-up of the Borrower. (h)of any   litigation, arbitration, investigation, administrative or other proceedings   initiated or threatened against the Borrower or any of its assets, which if   adversely determined, might have a Material Adverse Effect and submit copies   of any reports in relation thereto. (i) copies of all documents issued by the   Borrower to all its creditors or any general class of them at the same time   as they are issued. (j) such information or documents, financial or   otherwise, as are specified in the CAL, or as may be required by the Bank   from time to time in relation to the Facilities, the Borrower's business and   operations, assets etc., including those in relation to its foreign currency   exposures and hedging policy and those required for renewal of the   Facilities, within the period specified in the CAL or by the Bank. The   Borrower covenants and undertakes that: (a) it shall maintain its existence,   corporate or otherwise, and right to carry on its business and operations and   comply with applicable laws and shall carry out such modifications to its   constitutional documents f other relevant agreements as may be deemed necessary   in the opinion of the Bank to safeguard the interests of the Bank under the   Transaction Documents, and comply with all the required formalities,   including statutory filings, in relation thereto. (b) in the event that the   existing auditors cease to act as the auditors of the Borrower for any   reason, the Borrower shall promptly inform the Bank of the reasons for such   cessation and shall appoint another firm of independent chartered   accountants, acceptable to the Bank, in accordance with applicable laws. (c)   it shall, promptly obtain, maintain and comply with the terms of all   authorisations necessary for entering into or performing its obligations   under the Transaction For Yatra Online ;rivate LimLr_e_d_-Bo r   roo-:w!."er --JI _o:B a"'nk"------1 12 orised Signatory ··-·   -----·----··--- -·-,·' For Vatra' dntm·e·Pnvare=UmitetF -L 

    

 

Documents or   for conducting its business and operations. (d) it shall conduct its business   and operations in accordance with prudent and accepted industry standards and   with due diligence and efficiency and in accordance with sound technical,   financial and managerial standards and business practices. (e) it shall keep   and maintain in accordance with good business practice and applicable laws,   all statutory books, books of accounts, bank statements and other records of   the Borrower and in particular, maintain records showing the operations and   financial conditions of the Borrower and such records shall be open to   examination by the Bank and I or its authorised representatives. (f) it   shall, whenever required by the Bank, permit and cause the Security Provider   to permit the Bank, its officers, employees, agents, regulators, security   trustee or any refinancing agency officials to carry out technical, financial   and legal inspections of its premises, units, projects, assets, accounts and   other books and documents maintained by it or required to be maintained by it   under any law, by-laws or rules as applicable and provide free access at all   reasonable times to its premises, assets and records and shall provide full   cooperation and assistance to the Bank or other persons as aforesaid for the   purpose of carrying out such inspection and render such explanation or   elucidation as may be required by the Bank and/or its nominees(s) and allow   the taking of any copies of or extracts of any accounts/ records. All the   expenses in relation to such inspections shall be borne by the Borrower. (g)   it shall ensure that its aggregate business with banks, including deferred   payment facilities, foreign exchange, deposits and bill business will be   shared with the Bank in such manner as may be decided by the Bank. (h) it is   not and will not be entitled to and will not claim immunity for itself or any   of its assets from suit, execution, attachment or other legal process in any   proceedings in relation of the Transaction Documents. (i) if required by the   Bank, it shall undertake and /or procure undertaking(s) from such persons as   may be specified by the Bank in the form required by the Bank, whereby such   person(s) shall take the responsibility for making arrangements satisfactory   to the Bank for meeting the shortfall, if any, in the resources of the   Borrower for meeting working capital requirement and I or any of its project   and/ or in relation to its debt servicing obligations. The Borrower shall   join in such undertakings procured from such other persons as a confirming   party. The funds brought in to meet the shortfall in the resources of the   Borrower for working capital and Ior for any of its project, shall be in such   form and manner and on such terms as may be required by the Bank. (j) it   shall indemnify and keep the Bank indemnified against any cost, loss,   liability or third party claims (including legal fees and any applicable   indirect taxes) incurred by the Bank arising out of or in connection with   each of the Facilities (including any instruments and documents under the   Facilities) and /or the Transaction Documents and/ or due to any breach by   the Borrower of the Sanctions or any action taken by the Bank on account of   breach of the Sanctions. (k)the Bank shall have the right to declare the   Borrower and guar-antor(s), if any, a wilful defaulter, in accordance with   the guidelines laid down by RBI. (l) in case the Borrower has a sole banking   arrangement with the Bank, in terms ·of the RBI guidelines it shall seek   prior consent of the Bank by giving a notice of 15 (fifteen) days before it   seeks to establish a relationship with any other bank. (iii) N"'tt The   Borrower hereby further covenants and agrees that without the prior written   approval of the Bank, the Borrower shall not: (a) undertake or permit any   merger, de-merger, consolidation, reorganisation, scheme of Mfit ment or   compromise with its creditors or shareholders or any class of them or \ine   private L ffect any scheme of amalgamation or reconstruction including   creation of any 0 for'( atra \. . ubls:::ryor permit any company to become   its subsidiary; ·y "/>:ut orised s,gn I _ d Borrower . Bank 

    

 

I I I   --------------------··--(b)enter into any management contract or similar   arrangement whereby its business or operations are managed by any other   person; (c)declare or pay any dividend or make any distribution of profits or   pay any remuneration to its promoters I shareholders or permit withdrawal of   amounts brought in (I) unless it has paid all the dues in respect of the   Facilities upto the date on which the dividend/payment is proposed to be   declared or paid, or has made satisfactory provisions therefor, or (II) if an   Event of Default has occurred and is subsisting or would occur as a result of   such declaration or payment of dividend or authorisation or making of   distribution or withdrawal; (d)make any investment whether by way of   deposits, loans or investments in share capital or otherwise, in any concern   or provide any credit or give any guarantee, indemnity or similar assurance   or in any manner become directly, indirectly or contingently liable for or in   connection with the obligation of any person other than itself. This provision   shall not apply to loans and advances granted to staff or contractors or   suppliers in the ordinary course of business; (e)effect any change in its   capital structure or constitutional documents in any manner whatsoever; (f)   redeem, purchase, buyback, retire or repay any of its share capital, de-list   its shares from stock exchanges, if applicable, or resolve to do so for so   long as any sums of money are due and payable to the Bank under this Facility   Agreement; (g)change its financial year-end from the date it has currently   adopted or change the accounting method or policies currently followed by the   Borrower unless expressly required by applicable law; (h)avail of any credit   facilities or accommodation from any bank(s) or financial institution(s) or   any person, firm or company in any manner other than the bank(s) at present   providing working capital facilities to the Borrower and as permitted by the   Bank nor shall it deal with or through any other bank(s) or financial   institution(s); (i) create or permit to subsist any security interest,   encumbrance, mortgage, hypothecation, pledge or charge over any of its assets   other than the already existing charges which have been disclosed in writing   to the Bank or sell, transfer or otherwise dispose of (or agree to do any of   the foregoing at any future time) any of its assets; (j) undertake any new   business or operations or project or diversification, modernisation or   substantial expansion of any of its existing business or operations or of any   project that it may undertake during the currency of the Facility; (k) pay   any commission to its promoters, directors, managers or other persons for   furnishing guarantees, counter guarantees or indemnities or for undertaking   any other liability in connection with any obligation (including   Indebtedness) undertaken for or by the Borrower; (l) pay any compensation to   its promoters or directors in the event of loss of office for any reason   whatsoever, if there is any default in payment of any monies due and payable   under the Facility. 0" I I ARTICLE VII _ EVENTS OF DEFAULT The   occurrence of any one or more of the following events shall constitute an   event of default ("Ev-e.-vt-of De-ftw-4'') under the Facility Agreement:   Pil-!JW\-fAN/-Deft;w.-U--Default has occurred in the payment of any monies in   respect of the Facilities on the Due Dates, whether at stated maturity, by   acceleration or otherwise. (i) (ii) 13vof T<'-YWt¥ - Borrower or any other   person is in breach of any covenant, condition, agreement or any other terms   of the Transaction Documents (other than those specifically provided under   Clause 7.1 (i) and (iii) to (x) of this Facility Agreement) and such default   has continued for a period of 15 (fifteen) days after notice in writing   thereof For Yatra Online Private Limited "'"""'" ,jrA_a_t-er_)-_'-B-o-rr-ow-er-----,1,-----B-a-nk-------,   - --F r Yatra Onl1ne PnvateTimited -cc··-= ----­ '-L.. 

    

 

has been given   to the Borrower or as the case may be, to such other person, by the Bank   (except where the Bank is of the opinion that such default is incapable of   remedy, in which event, no notice shall be required). (a) If the Obligor(s)   has taken or suffered any action for its reorganisation, winding-up or   dissolution or if a receiver or liquidator (including provisional liquidator)   has been appointed or allowed to be appointed over all or any part of the   assets of the Obligor(s) or if any attachment or distraint has been levied on   the Obligor's assets or any part thereof or certificate proceedings have been   taken or commenced for recovery of any dues from the Obligors or if one or   more judgments or decrees have been rendered or entered against the Obligor(s)   and such judgments or decrees are not vacated, discharged or stayed within a   period of 30 (thirty) days and such judgments or decrees involve in the   aggregate, a liability which could have a Material Adverse Effect; (b) If any   petition or application in relation to insolvency or bankruptcy resolution of   the Obligor (including without limitation, corporate insolvency resolution   process and bankruptcy process under the Insolvency and Bankruptcy Code is   filed before any court, tribunal or authority of competent jurisdiction; or   the Obligor(s) has become bankrupt or insolvent or is dissolved.   Se<AM""i.fu i.Nv J-If the Security, if any, for the Facilities   is in jeopardy or ceases to have effect or if any of the Transaction   Documents executed or furnished by or on behalf of the Borrower becomes   illegal, invalid, unenforceable or otherwise fails or ceases to be in effect   or fails or ceases to provide the benefit of the liens, rights, powers,   privileges or security interests purported or sought to be created thereby or   if any of such Transaction Documents is assigned or otherwise transferred,   amended or terminated, repudiated or revoked without the approvalof the Bank.   (iv) '-' i.Nv Ccvvlr<>l - Any person acting singularly or with any   other person either directly or indirectly acquires control of the Borrower   or of any other person who controls the Borrower, without the approvalof the   Bank. (v) M 1"'-forR"??""-Any information given by the   Borrower or on its behalf, including but not limited to, information given at   the time of appraisal of the loan, representation and warranty, or statement   made or repeated, or deemed to be made or repeated, in or in connection with   any of the Transaction Documents, is incorrect or misleading in any respect.   (vi) , 0 l o-lMy - It is or becomes unlawful for the Borrower or any person   including the Bank to perform any of their respective obligations under the   Transaction Documents. (vii) (viii) CA-ow Dejtw-M-(a) Borrower is unable or   has admitted in writing its inability to pay any of its Indebtedness as they   mature or when due. (b) Any Indebtedness (whether incurred by the Borrower or   otherwise) secured by an encumbrance over the assets of the Borrower, is not   paid when due or becomes payable prior to its stated maturity. (c) An event of   default howsoever described (or any event which with the giving of notice,   lapse of time, determination of materiality or fulfilment of any other ·   applicable condition or any combination of the foregoing would constitute an   event of For Yatra Online Private Limited H,,J·S-ig_n_a_to_r_y_ -6-rr_o_w_e_r   __, B_a_n_k 15 For Yatra Online Private Umr,ed   ---------------------"'--P.uthorised Signatory 

    

 

default) occurs   under any agreement or document relating to any Indebtedness of the Borrower   or if any other lenders of the Borrower including financial institutions or   banks with whom the Borrower has entered into agreements for financial   assistance have recalled its/their assistance or any part thereof. (ix)   Jlllo.+e.YWL Aolve.r-!h Effe-ol--Occurrence or existence of one or more   events, conditions or circumstances (including any change in law), which in   the opinion of the Bank, could have a Material Adverse Effect. (x) E-Any   other event or circumstance specified as an Event of Default under the CAL.   7. 2 CONSEQUENCES OF EVENT OF DEFAULT Notwithstanding any other right that   may be available to the Bank or anything contrary contained in any of the   Transaction Documents, on thehappening of an Event of Default or if the   Overall Limits I Limits are not renewed beyond the validity period specified   in the CAL or if the Borrower has not availed of or drawn from the Facilities   by the aforesaid validity period, the Bank may, by a notice in writing to the   Borrower, exercise the following rights: (i) terminate the Facilities and/ or   declare any or all of the amounts under the Facilities as immediately due and   payable, to the Bank, whereupon the same shall become due and payable by the   Borrower forthwith, in accordance with the terms of the notice. Notwithstanding   any suspension or termination pursuant to the Facility Agreement, all the   provisions of the Transaction Documents for the benefit or protection of the   Bank and its interests shall continue to be in full force and effect as   provided in the Transaction Documents. J (ii) suspend further access to/   drawals by the Borrower of the Facilities. (iii) declare the Security   created, if any, in terms of the Transaction Documents to be enforceable, and   notwithstanding anything to the contrary contained in the Transaction   Documents the Bank or such other person in favour of whom such security or   any part thereof is created shallhave, inter alia, the right to: enter upon   and take possession of, and I or transfer (by way of lease, leave and   licence, sale or otherwise), the assets comprised within the Security, if   any; exercise any right, power or remedy permitted to it by law, including by   suit, in equity, or by action at law, or both, or otherwise, whether for   specific performance of any covenant, condition or term contained in this   Facility Agreement or other Transaction Documents or for an injunction   against a violation of any of the terms and conditions of this Facility   Agreement or other Transaction Documents, or in aid of the exercise of any   power or right granted in this Facility Agreement or other Transaction   Documents and/or as a creditor. (a) (b) (iv) )> c (a) Bank shall have the   right to convert (which right is hereinafter referred to as the ·· J.Ww   Ri.gM'') at its option the whole or part of the outstanding amount of the   Facility and if the Facility is denominated in foreign currency, the Rupee   equivalent thereof (whether then due and payable or not) into fully paid·up   equity shares of the Borrower, at par or such other rate acceptable to the   Bank, from the date ("D of J.i.oW') and in the manner specified in a   notice in writing to be given by Bank to the Borrower ("No-fi.,ch of   J.ih;V'). The Conversion Right reserved as aforesaid may be exercised by Bank   on one or more occasions during the currency of the Facility. On receipt of   Notice of Conversion, the Borrower shallallot and issue the requisite S' 0   (ij' (1) a. (/) <0' ::J 0'" -< (b) L__------For.Yatra Online   Private Limitd H Borrower ------,176--------Bank--------Authorised Signatory   1 For Yatraoi,line Private u-inited 

    

 

number of fully   paid·up equity shares to Bank as from the Date of Conversion and Bank shall   accept the same in satisfaction of the part of the Facility so converted. The   part of the Facility so converted shall cease to carry interest as from the   Date of Conversion and the Facility shall stand correspondingly reduced. Upon   such conversion, the installments of the Facility payable after the Date of   Conversion as per the Facility Agreement shall stand reduced proportionately   by the amounts of the Facility so converted. The equity shares so allotted   and issued to Bank shall rank pari passu with the existing equity shares of   the Borrower in all respects. In the event of the Bank exercising the   Conversion Right, the Borrower, if its equity shares are listed on any stock   exchanges, shall at the Borrower's cost get the equity shares issued to the   Bank as a result of the conversion, listed on the said stock exchanges.   Borrower undertakes to ensure that it shall have, at all times, sufficient   authorised, unissued share capital as may be required by the Bank. Borrower   shall have procured all the necessary approvals/authorisations (including   special resolution by its shareholders), as may be required under extant   laws, for the lenders to exercise the Conversion Rights. (c) (d) (e) (v) j I   Bank shall have the right to appoint any person engaged in technical,   management or any other consultancy business to inspect and examine the   working of the Borrower and I or the assets including its premises,   factories, plants and units as the Bank may deem fit or appoint any Chartered   Accountants I Cost Accountants as auditors for carrying out any specific   assignments or to examine the financial or cost accounting system and   procedures adopted by the Borrower for its working or as concurrent or   internal auditors, or for conducting a special audit of the Borrower, as the   Bank may deem fit. The Bank shall have the right to review the management set   up or organisation of the Borrower and to require the Borrower to restructure   it, as may be considered necessary by the Bank, including the formation of   management committees with such powers and functions as may be considered   suitable by the Bank. The Borrower shall comply with all such requirements of   the Bank. (vii) stipulate such other additional terms and conditions, as the   Bank may deem fit. , ARTIG/..6 VIII GANGE:L.L.ATION Notwithstanding anything   contained in the Transaction Documents, the Bank shall have the unconditional   right to cancel the unutilised portion of the Facility, in whole or in part,   at any time during the subsistence of the Facility, without giving any prior   notice to the Borrower, for any reason whatsoever, including but not limited   to, on the occurrence of Deterioration of Creditworthiness of the Borrower,   or for non-compliance of any terms and conditions of the Transaction   Documents. 0, ·y 8-<.1 . Ill 0 cs: s;: ;::::-:J (1) 1:. "'0 :<J.   <uD;· i For the purpose of this Article, "Defwi.-oro..fihw ikv #w   Ct-' shall mean and include without limitation, the following events: 8.2 -   :E. . (i) (ii) (iii) (iv) (v) downgrade of the rating of the Borrower by a   Credit Rating Agency; inclusion of the Borrower and/or any of its directors   in the RBI's wilful defaulters list; closure of a significant portion of the   Borrower's operating capacity; decline in the profit after tax of the   Borrower by more than fifteen percent; any adverse comment from the auditor;   and ,0 -(1) '<•a. For Yatra On -ine Private Limifect l Borrower 1_ Bank 1   Authorised SignatoLr_y ,--===-----f17.--------==---j _"f=()rj'ClJ:<LQnline   Privltle l imit@L _ '·.7 . ----------_..... fl • - -·- 

    

 

(vi) any other   reason/ event which in the sole opinion of the Bank constitutes or which may   constitute deterioration in the creditworthiness of the Borrower. ARTICLE IX   fVIISCE/.../...ANEOUS 9.1 SERVICE OF NOTICE (i) Allnotices or other   communications under or in connection with the Facilities shall be given in   writing and shallbe deemed to be effective: (a) if sent by letter, when   delivered personally or if dispatched by post, when recall of the letter is   outside the control of the sender; (b) if sent by e-mail or any other   electronic or telecommunication mode, when sent by the sender; and Provided,   however, that no notice or communication to the Bank shall be effective   unless actually received by the Bank. (ii) All notices or communication to   the Borrower or the Bank, as the case may be, shall be made to the address   provided in Schedule I, or such address as may be notified by each party in   writing, from time to time. (iii) The Borrower acknowledges and confirms that   any notice provided by the Bank shall be treated by the Borrower as   sufficient and reasonable notice to the Borrower and agrees to assume the   liability for any non·delivery of a notice as aforesaid, by any reason of any   error, electronic or otherwise. EVIDENCE OF DEBT 9.2 The Bank shall maintain,   in accordance with its usual practice, accounts evidencing the amounts from   time to time lent by and/ or owing to it under the Facilities which shall be   prima facie and conclusive evidence of the existence and amount of   obligations of the Borrower, including for the purpose of Insolvency and   Bankruptcy Code. 9.3 ACKNOW/...EDCifVIENT OF DEBT Without prejudice to the   provisions contained in Clause 9.2 above, upon receipt from the Bank of   statement(s) giving details of: (i) the aggregate debit balance in the   Account as on the date(s) stated in such statement(s); (ii) the further   applicable accrued interest from the aforesaid date(s) mentioned in the   aforesaid statement(s); ''Tl 0 g !lJ (iii) securities, if any, created for   securing the Facilities I the amounts stated in the aforesaid Account the   Borrower shall within 7 (seven) days thereof inform the Bank of any   inaccuracy thereon failing which Borrower shallbe deemed to have confirmed   the correctness of the entries in such statement(s) and acknowledged the   indebtedness for the balance mentioned in the aforesaid statement(s). 9.4   ASSICiNfVIENT (i) The Borrower shall not assign or transfer all or any of its   rights, benefits or obligations · under the Transaction Documents without the   approval of the Bank. Notwithstanding anything contained in the Transaction   Documents, the Bank shall be entitled to, at any time, assign, novate or   transfer, the whole or part of its outstanding or commitment in   -ti,-Y:±,;,.,"'"""' '" For Ya ra 0nlinPrivate   Limite_Ll --=Ba=r-"ro'-'w'-'e"-r ,B"'a"'n"-k ,   -----·-------------- ----------·····------. For Yatra Online Private Limited   l.. 

    

 

one or more   tranches, and all any of its rights, benefits and obligations, under the   Transaction Documents (including security interest) to any person, without   the prior approval of the Borrower. Notwithstanding any such assignment or   transfer, the Borrower shall, unless otherwise notified by the Bank, continue   to make all payments under the Facility Agreement to the Bank and all such   payments when made to the Bank shall constitute a full discharge to the   Borrower from all its liabilities in respect of such payments. The Borrower   acknowledges and confirms that in case of an assignment or transfer of the   Facility (in part or full) by the Bank, each of the Bank, transferee and/or   assignee shall be deemed to have provided independent facilities under the   Facility Agreement. Each of the Bank, transferee and/or assignee shall, upon   the occurrence of Event of Default, have an independent cause of action,   notwithstanding that the default arises on the same date or is in respect of   the same Transaction Documents. (ii) Without prejudice to the aforesaid provision,   the Bank shall be entitled to, without notice to the Borrower, share the   credit risk of the whole or a part of the Facilities with any other person by   way of participation. Notwithstanding such participation, the terms of the   Transaction Documents shall continue to remain valid, effective and   enforceable until the repayment/payment in full of the Facilities and all   monies in respect thereof and the Borrower shall not claim any privity of   contract with such person on account of any reason whatsoever. 9.5 SET OFF   (i) The Bank shallhave the paramount right of set-off and lien, irrespective   of any other lien or charge, present as well as future on the deposits of any   kind and nature held I balances lying in any accounts of the Borrower,   whether in single name or joint name(s) (for which, the Borrower hereby   confirms that the requisite consent has already been procured by the Borrower   from the relevant third party) and on any monies, securities, bonds and   allother assets, documents and properties held by I under the control of the   Bank and I or its group companies whether by way of security or otherwise   pursuant to any contract entered I to be entered into by the Borrower in any   capacity to the extent of all outstanding dues, whatsoever, arising as a result   of any of the Bank's services extended to and I or used by the Borrower and I   or as a result of any other facilities that may be granted by the Bank to the   Borrower. (ii) The Bank is entitled to settle any Indebtedness whatsoever   owed by the Borrower to the Bank by adjusting, setting-off any deposit(s) and   I or transferring monies lying to the balance of any account(s) held by the   Borrower with the Bank to combine or consolidate at any time all or any of   the accounts and liabilities of the Borrower including accounts not related   to the Facilities, to sell any of the Borrower's assets or properties held by   the Bank or its group companies. The Bank's rights hereunder shall not be   affected by the Borrowec's bankruptcy orwinding-up. lt shall be the Borrower's   sole responsibility and­ liability to settle all disputes I objections with   joint account holders, if any. ., 0 NOMINEE DIREGTOR/013SERVER (i) During the   currency of the Facility, notwithstanding any other right available to the   Bank, the Bank shall have the right to appoint and remove from time to time   by a notice in writing to the Borrower (I) Director(s) on the Board of   Directors of the Borrower (such directors are hereinafter referred to as the   "NDwu.fv-v(.s)"); or (II) Observer(s) to attend allBoard and   General meetings of the Borrower (hereinafter referred to as the "O   v-w(y)"); (ii) The Nominee Director(s) shall not be required to hold   qualification shares nor be liable to For vatra onlin :Private umitrd l1 _ ·   Aui orised Borrower 1. Bank SignatoLr_y---:-----"'=='-------,1\,9-----""=----_j   

    

 

retire by   rotation, be entitled to all the rights and privileges of other Directors   including the sitting fees and expenses as payable to other Directors but if   any other fees, commission, monies or remuneration in any form is payable to   the Directors, the fees, commission, monies and remuneration in relation to   such Nominee Director(s) shall be paid by the Borrower directly to the Bank;   (iii) The Nominee Director shall be appointed a member of committees of the   Board, if so desired by the Bank; (iv) The Nominee Director and/or the   Observer shall be entitled to receive all notices, agenda and other related   communications and to attend all GeneralMeetings and Board Meetings and   Meetings of any committees of the Board of which he is a member; (v) If, at   any time, the Nominee Director(s) and/or Observer is not able to attend a   meeting of the Board of Directors or any of its committees of which he is a   member, the Bank may depute any other person to attend the meeting; (vi) The   expenses incurred by the Bank, Nominee Director(s) or Observers in this   connection shallbe borne and payable by the Borrower. , i !· 9.7 PROVISIONS   RELATINCiTO FAC<L/TIES DENOfv!INATEDIN CURRENC<ES OTHER THAN INDIAN   RUPEES ! Subject to specific provisions, if any, incorporated in Annexure I   hereof, in relation to the relevant product(s), in case any of the Facilities   are denominated in any currency other than Indian Rupee, the following   conditions shall apply: i I (i) The foreign currency amount would be the   limiting factor and the Borrower's liability would accordingly be reckoned in   the foreign currency in which the relevant Facilities are denominated. I (ii)   Borrower is liable to pay interest and repay principal in the currency in   which the relevant Facilities have been denominated. In the event of any   default in the payment of principal and I or interest on the Due Date of such   Facilities, the Bank may, at its discretion, convert the amount into Indian   Rupee, on the Due Date(s) for such payment(s) or on any subsequent date, at   the Bank's telegraphic transfer ("TT") selling rate prevailing on   the date of such conversion. The amount due thereafter, would be reckoned as   denominated in Indian Rupee. I I-, 0 (iii) The Indian Rupee equivalent of the   relevant Facilities denominated in currencies other than Indian Rupee have   been reckoned for the purpose of the Facility Agreement at the exchange rates   as mentioned in the CAL. I !' r·, (iv) In the event the value of Indian Rupee   depreciates vis-a-vis the currency in which the relevant Facilities are denominated   resulting in increased liability in terms of Indian Rupee vis-a-vis the   currency of the relevant Facilities, the Borrower hereby agrees and confirms   that: (a) such increased value in terms of Indian Rupee shall also be covered   by the security, if any, stipulated in the Transaction Documents; (b) the   Borrower shall further execute, sign and furnish all such documents, deeds   and writings required by the Bahk for the aforesaid purpose. I I I   SEVERABILITY Any provision of the Transaction Documents which is prohibited   jurisdiction shall, as to such jurisdiction, be ineffective to the or   unenforceable in any extent of prohibition or I For YPrivate Limlited   Borrower Bank _ _ _ L - uthorised SignaLto_r_y   ......e=="-----.f.zo,------"'=-----' ===== =-= For Yatra Online   Private Limited ---------_, - 

    

 

unenforceability   but that shall not invalidate the remammg provisions of the Transaction   Documents or affect such provision in any other jurisdiction. 9.9 DISCLOSURE   (i) The Borrower agrees, accepts and consents for the disclosure and sharing   by the Bank of all or any information and data relating to the Obligors or   any credit facilities, including but not limited to information relating to   default, if any, committed by the Obligors, in the discharge of the Obligor's   obligations, as the Bank may deem appropriate and necessary to disclose and   furnish, to the RBI and/or any agency/credit bureau authorized in this behalf   by RBI, to information utilities, to its professional advisers and consultants   and to its service providers, third party or otherwise, through written or   oral communication including paper publication (with or without photographs)   and/or as required under applicable law, at the order of a court of law, or   any statutory, regulatory or supervisory authority of any jurisdiction. (ii)   The Borrower accepts that RBI or any other agency so authorized, any   statutory, regulatory or supervisory authority, may use, process, disseminate   the said information and data disclosed by the Bank in such manner as deemed   fit by them in any particular circumstances and shall not hold the Bank   responsible or liable in this regard. (iii) The Bank, its group companies,   agents I representatives would be entitled to provide the Borrower, its   promoters, directors and employees, information on various products, offers   and services through any mode (including through telephone calls I SNIS I   emails). 9.10 WAIVER No delay in exercising or omission to exercise any   right, power or remedy accruing to the Bank upon any default or otherwise   under the Transaction Documents shall impair any such right, power or remedy   or shall be construed to be a waiver thereof or any acquiescence in such   default, nor shall the action or inaction of the Bank in respect of any   default or any acquiescence by it in any default, affect or impair any right,   power or remedy of the Bank in respect of any other default. The rights of   the Bank under the Transaction Documents may be waived only in writing and at   the Bank's sole discretion. ., 9.11 0 JURISDICTION - (i) The Borrower agrees   that only the courts and tribunals (including the debt recovery tribunals) of   competent jurisdiction at the place mentioned in Schedule I shall have   exclusive jurisdiction with respect to any suit, action or any other   proceedings ("Pn>cut'lW.eJ}') arising out of or in relation to this   Facility Agreement. The Borrower irrevocably waives any objection, now or in   future,. to the jurisdiction of the courts and tribunal specified   hereinbefore. ?"0' :;; 'cJ>(; ::l s: ro -o :;;:· "-ro' · 1 (ii)   Nothing contained in this clause shall limit any right of the Bank to,   commence any Proceedings arising in relation to the Facilities or the   Transaction Documents in any other court, tribunal or other appropriate forum   of competent jurisdiction and the Borrower hereby consents to that   jurisdiction. c (0 !::1 ¥3 ;::;: ro a. The Transaction Documents (unless   otherwise specified in any of the Transaction Documents) shall be governed by   and construed in accordance with the laws of India. (iii) For Yatra Online   Private Limited H,,;,,o';''"'rrY-.   ---,-----B-a-rr-aw-er-----.-----B-a-nk------, 21 For Yatra Online Private   Limited =---psuth:n:e :Signatory 

    

 

! I I For Yatra   Online Private Limited L For Yatra Online Private Limited 1"" ,::!'   \ . A· thorised Signatory For Yatra Online Private Limited L Auth rised   Signatory \ · I Borrower Bank 22 : ..::; . ············==== 

    

 

·····--------------·-······   -----------------SCI-IE.=:DU L£ I Address: ICICI Tower, NBCC Place Pragati   Vihar Bhishma Pitmah Marg 110003 Overall Limit : 1,1 00 Fund Based : NO n   Fund Based : 1,100 For Yatra Online Private Limited lwv--feJl 1uthorised   Signatory · For Yatra Online Private Limited jl I=--=-=--=·····=···=·   -====;,I•LIF_=_=_=_=_,=B:=or:ro:=w:_e:-r-_-_-j   ,-/c;--------"'Ba"'-'nk"--_ Z3 22"d July 2017 Yatra   Online Private Limited, a company within the meaning of the Companies Act,   2013 and having its Registered Office at B2, 202, 2nd Floor, Marathon Innova,   Building, Marathon Nextgen Complex, Opp. Peninsula Corporate Park Off.   Ganpatro \ Kadam Marg, Lower Pare!(W) Mumai-400013, Maharashtra &   Corporate Office at Unit No 1101-03, Tower-B, lith Floor, Unitech Cyber Park,   Sector-39 Gurgaon 122002 HR IN. Ne No w Delhi The CAL dated the 21" day   of June, 2017 issued by the Bank to the Borrower. The Borrower agrees that   only the courts and tribunals (including the debt recoymtribunals) of New   Delhi shall have exclusive jurisdiction, _ 

    

 

IN WITNESS   WHEREOF 13orvo-we-r-Agv fo-!?<.-,_.d-oAJ, 130M40 1icW Ft0LiAy !JULY   Y€40-'1.-V{-l.vv 5I SIGNED AND DELIVERED by the within named Bank, ICICI BANK   LIMITED, by the hand of Mr. I Ms: , its authorized official For fu&   Boyv-qwe..v: The Common Seal of YATRA ONLINE PRIVATE LIMITED has, pursuant to   the Resolution of its Board of Directors passed in that behalf on the   15"' day of May, 2017, hereunto been affixed in the presence of Mr. Anuj   Kumar Sethi and Mr. Alok Vaish, Authorized Signatory who have signed these   presents in token thereof. I I For Yatra Online Private Limited   ''"'"'"""' I I For Yatra Online Private Limited For   Yatra Online Private Limited "':::,, ""'   "'"""' For Yatra Online Private Limited Tut:::f(&, 24   --------------- 

    

 

ANNEXURE I   IER/VlS AND CONDiiiONS APPLICABLE FOR SPECIFIC FACILiiiES PARI A (BANK   CUARANTEE [BC] I SiANO BY LETTER OF GREDII [SBLG]) 1. BC I SBLG FACILiiiES   The Bank has, at the request of the Borrower, agreed to grant to the Borrower   working capital facilities by way of issue of bank guarantees I standby   letter(s) of credit (the "BCJ)', which expression shall, as the context   may permit or require, mean any or each of such BGs and all renewals made   thereto from time to time) in favour of entities I persons acceptable to the   Bank guaranteeing I undertaking payment obligations in terms of various   contracts I agreements entered into between the Borrower and the respective   beneficiaries, upto the maximum extent of the amounts of respective Limits   specified in the CAL (the "BC F '). Provided, however, the total of   amounts outstanding under the BG Facilities shall not at any point of time   exceed the amount of the respective Limits. 2. PAYtvtENi AND INiERESI (i) lf   the Bank is called upon to pay, or pays, all or any of the monies under or in   respect of the BGs, the Borrower shall, without questioning the   reasonableness or validity or otherwise of any payment made or required to be   made by the Bank under the BGs, forthwith pay to the Bank, all amounts   payable or as the case may be, paid by the Bank, including without   limitation, all costs, charges and expenses whatsoever payable or paid,   suffered or incurred by the Bank in respect of or in relation to or arising   out of the obligations undertaken under the BGs (collectively,   the,"DA-BC.Y') and until such payment by the Borrower, the same shall   unless otherwise agreed to by the Bank, be deemed to be on demand loans to   the Borrower carrying interest at the rate specified in the CAL. The Bank   shall be entitled, at its sole discretion, without any further consent from   the Borrower, to debit the Account with the amount of any payments the Bank   is required to make I makes under or in respect of the BGs, as aforesaid.   (ii) Allpayments made by the Bank in foreign currencies may be, at the option   of the Bank, converted into rupees with reference to the actual cost to the   Bank (including all commission or other bank charges and out-of-pocket   expenses) in remitting the foreign currencies. 3. ADDIIIONAL PROVISIONS The   Borrower further agrees, confirms and undertakes as follows: (i) the Bank may   in its sole and absolute discretion and without reference to the Borrower and   without the Bank being required to ascertain any breach of the agreements/   contracts underlying the BGs, or the validity thereof or otherwise and   notwithstanding any directions to the contrary given by the Borrower or any   other person on the ground of a dispute as to the liability of the Borrower I   the Bank or otherwise, admit or compromise and pay or submit to arbitration   or dispute or resist any claim or demand made against the Bank under or in   respect of sueBGs. Notwithstanding the aforesaid, the Borrower shall, in   accordance with the Facility Agreement, continue to be liable to indemnify   the Bank, in respect of any action or payment which the Bank may take or   make; 0 lL 2l II====== =F=o=r= : ::::I::.L-::-.:-:-----_-B.o r ro w er   ------B an k ------===----,, For Yatra Online Private Limited A A 

    

 

I I (ii)   Borrower shall (unless otherwise agreed to by the Bank): (a) duly and   punctually observe, perform and comply with all the covenants, obligations   and conditions of allthe agreements underlying the BGs; (b) not create or   permit to subsist, any encumbrance of any nature whatsoever over all or any part   of the underlying agreements; (c) not amend or agree to amend or grant waiver   of any of the provisions of the underlying agreements. BGs will be issued by   the Bank only as per the provisions of applicable laws and regulations   including those laid down by RBI; BGs shallbe issued by the Bank only in a   format acceptable to the Bank; in case of bid bond I earnest money deposits I   advance payment I retention money BGs, stipulated under project exports or if   the BGs are issued under any Export Promotion Capital Goods Scheme (EPCGS),   the Bank shall be entitled to obtain counter guarantees from Export Credit   Guarantee Corporation ("£cc;C!') or similar authority, at the costs and   expenses of the Borrower; if for any reason whatsoever the liability of the Bank   extends beyond the validity period specified in the BGs or if the Bank is   prevented by any action initiated by the Borrower or otherwise from making   payment of part or whole of the guaranteed amounts to the beneficiary of the   BGs, the Borrower shall be liable to pay commission also for the period for   which the Bank remains liable under the BGs and I or the period for which the   payment of the guaranteed amount I discharge from the guaranteed obligations   has been delayed; the Borrower shall provide I deposit immediately on demand   and without demur, additional acceptable security to the Bank and I or   sufficient amounts by way of 100% cash margin on the outstanding amounts of   the BGs, which in the Bank's opinion are likely to be invoked due to non I   inadequate fulfillment of obligation, in particular of performance undertaken   under the BGs. The Borrower shall accept the Bank's judgment on the   likelihood of guarantee obligation being unfulfilled, as finaland binding; in   the event of the interest rate on the principal amount of the financial   assistances guaranteed by the Bank increasing for any reason whatsoever   beyond the percentage specified in the underlying agreements I contracts and   consequentially the liability and obligation of the Bank under the BGs   increasing, the Borrower shall indemnify and keep indemnified the Bank to the   extent of additional interest liability paid in such form as may be   determined by the Bank. (iii) (iv) (v) i i (vi) (vii) (viii) f. I I I Yatra   Online Private Limited l Authorised Signatory ·.-\ For Yatra Online Private   limited vw · Yatra Online Private Limited 1uthorised Signatory   "'""'""'" I I Borrower Bank 26 ., For ForExhibit 4.25

 

--·--··-·-·------------------l   I Indian-Non Judicial Stamp Haryana Government on Judicial Date : 28/08/2017   I I I l'-l ul!l-.R HI !1"II!'·!ll·!!n· ··!"(H ll ·-·!(1;'1(''1\   ''!11 !1\!1 ! '!'ill"!II'( Stamp Duty Paid : IRS. Only) 200 Certificate   No. G0282017H1903 i I ilJ1 ll r li :! 1 II f: f 1 ti ,; ; 'li 1 1 Ui : ;J!i I   1 il'l11ll"ill''l i'Il11i1l't'i'1'11:i1l'l111111l'l1'l1l'1''lli'   Penalty: (Rs. zero Only) 0 GRN No 30084165 ti 1 I Seller I First Party Detail   ame: .No/Fioor: ityNiilage : hone: Yatra Online Pvt ltd Na Gurugram   9871372500 Sector/Ward : Na District : Gurugram LandMark : State : Na Haryana   Buyer I Second Party Detail Name: lnnoven Capital India pvt ltd H.No/Fioor ·   Na Gurugram 0 Sector/Ward : Na District : Gurugram LandMark : State : Na   Haryana CityNillage Phone : Purpose : DEED OF HYPOTHECATION The authenticity   of this document can be verified by scanning this QrCode Through smart phone   or on the website https://egrashry.nic.in crJ Bfa_,-rnr; p -Q.n. ;l'ft4)   tf<nT110 cj Ov'T'-t:h£ 07'<: rO-.'lf-0.Pd evnrl   .CH::.""t:u_·,-e e ('\._ <?:XC:CLJ'b<J ct fi(1fJcl-h_e c   10..-t crr< Cm-li'N_ Yo:b-._Q Vn:t\Jc:d.. C2.. L.l""'--i::eA' 

    

 

DEED OF   HYPOTHECATION BY AND BETWEEN INNOVEN CAPITAL INDIA PRIVATE LIMITED AND   BORROWER 

    

 

TABLE OF   CONTENTS 1. 2. HYPOTHECATION IN FAVOR OF INNOVEN BORROWER'S REPRESENTATIONS   AND COVENANTS SCHEDULE A SCHEDULE B ANNEXURE I 4 4 8 9 11 2 lnnoVen 

    

 

DEED OF   HYPOTHECATION THIS DEED OF HYPOTHECATION (this "Deed" or this   "Agreement") made on the day, month and year set out in Schedule 1   of the Term Loan Agreement between Yatra Online Private Limited, a company   within the meaning of the Companies Act, 1956 and having its registered   office at B2, 202, 2nd Floor ,Marathon lnnova, Marathon Nextgen Complex, Off.   Ganpatrao Kadam Marg, Lower Parel (N), Mumbai Maharashtra, 400013   (hereinafter referred to as the "Borrower" which expression shall,   unless it be repugnant to the subject or context thereof, include its successors   and permitted assigns) of the ONE PART; In favour of lnnoVen Capital India   Private Limited, a private limited company incorporated under the Companies   Act, 1956 and registered as a Non-Banking Financial Company within the   meaning of the Reserve Bank of India Act, 1934 having its registered office   at 12th Floor, Express Towers, Nariman Point, Mumbai 400021 (hereinafter   referred to as "lnnoVen", which expression shall, unless it be   repugnant to the subject or context thereof, include its successors and permitted   assigns) of the OTHER PART. lnnoVen and the Borrower are hereinafter, where   the context so requires, collectively referred to as the "Parties"   and individually as "Party". WHEREAS: I. lnnoVen and the Borrower   have entered into a Term Loan Agreement dated September 12, 2017 ("Term   Loan Agreement"), under which lnnoVen has agreed to lend and advance to   the Borrower and the Borrower has agreed to borrow from lnnoVen, the Term   Loan amounting to INR 495,000,000 (Rupees Four Hundred and Ninety Five Million   only}, on the terms and conditions contained in the Term Loan Agreement. II.   Pursuant to the provisions in the Term Loan Agreement, the Term Loan together   with all Interest, Expenses and all other monies as provided under the Term   Loan Agreement and other Loan Documents shall be secured, inter alia, by a   pari passu charge by way of hypothecation in favor of lnnoVen of all the   Borrower's fixed, current and non•current assets, both existing and future,   including all Intellectual Property and Intellectual Property Rights   (hereinafter referred to as the "Hypothecated Goods", as more fully   described under Schedule A hereunder), subject to the terms of the Term Loan   Agreement. It is clarified that the charge created herein comprises of pari   passu charge along with the charge created solely in favor of ICICI Bank   Limited to secure the bank guarantee facility from ICICI Bank Limited for the   amount of INR 1,100,000,000 (Rupees one billion one hundred million only),   excluding (i) INR 600,000,000 collateral and cash margin in account no.   maintained with ICICI Bank Limited by the Borrower and any collection account   of the Borrower including account numbers •••••• and maintained with ICICI   Bank Limited the details of which is specified in Annexure I to this Deed;   (ii) other vehicle an held by the Borrower over 3 lnnoVen 

    

 

which lien has   been marked by banks, the details of which are specified in Annexure II to   this Deed; and (iii) a vehicle loan facility amounting to INR 20,000,000   (Rupees twenty million only) to be availed by the Borrower from ICICI Bank.   IlL lnnoVen has called upon the Borrower to execute these presents which the   Borrower has agreed to do in the manner hereinafter expressed. NOW THIS DEED   WITNESSETH AS FOLLOWS: 1. HYPOTHECATION IN FAVOR OF INNOVEN The Borrower   hereby expressly creates a pari passu charge by way of hypothecation on the   Hypothecated Goods (as defined and described under Schedule A hereto), in   favor of lnnoVen, to secure the payment and performance in full of all of the   Obligations under the Term Loan Agreement and the other Loan Documents, subject   to the terms of the Term Loan Agreement 2. BORROWER'S REPRESENTATIONS AND   COVENANTS In connection with the Obligations of the Borrower under the Term   Loan Agreement and the security interest created on the Hypothecated Goods in   favor of lnnoVen, the Borrower hereby expressly represents warrants and   covenants to lnnoVen as follows: 2.1. The Borrower has good title to, has all   the rights in, and as on the date falling 15 (Fifteen) days after the First   Closing Date has the absolute power to transfer each of the Hypothecated   Goods and the Borrower further states that the Hypothecated Goods are free   and clear of any Encumbrances except to the extent disclosed under the   Disclosure Schedule under the Term Loan Agreement The Borrower further states   that the Borrower is the sole owner of its Intellectual Property and the   Intellectual Property Rights. The Borrower states that the Intellectual   Property, is valid and enforceable, and no part of the Intellectual Property   or the Intellectual Property Rights have been judged invalid or   unenforceable, in whole or in part, and to the best of Borrower's knowledge,   no claim has been made that any part of the Intellectual Property or the   Intellectual Property Rights violates the rights of any third party. The   Borrower shall keep the Hypothecated Goods insured for risks, and in amounts   in accordance with the provisions and terms set forth in the Term Loan   Agreement, and as lnnoVen may reasonably request The Borrower shall deliver   to lnnoVen promptly, the certified true copies of all the policies of   insurance taken in connection with the Hypothecated Goods as per the   requirements laid out in the Term Loan Agreement 2.2. The Borrower shall make   all such filings required with all governmental authorities and agencies as   may be necessary and appropriate for the purpose of creation and/ or   perfection of the Lien created under this Deed, including filing a copy of   this Deed together with a duly completed Form CHG-1 as prescribed under the   Companies Act, 2013 with the relevant Registrar of Companies and payment of   the requisite filing fee within the prescribed period without payment of   penalty, and it shall deliver copies of receipts of such filings to lnnoVen .   4 

    

 

2.3. As on the   date falling 15 (Fifteen) days after the First Closing Date, the creation of   the Encumbrance over the Hypothecated Goods (pursuant to this Deed, in favor   of lnnoVen) is in accordance with all the applicable Law, the charter   documents of the Borrower and does not conflict with any agreements entered   into by the Borrower. 2.4. lnnoVen or its nominees ("lnnoVen's   Nominees"), with prior written notice of at least 7 (Seven) days and at   the Expense and risk of the Borrower, shall be entitled at all times, to   enter any place where the said Hypothecated Goods may be inspected or   examined and take particulars of all or any part of the said Hypothecated   Goods and check any statement, accounts, reports and information, with   respect to the same. The Borrower shall, as and when required by lnnoVen, provide   full particulars and details to lnnoVen of all the assets of the Borrower and   of the said Hypothecated Goods and shall furnish and verify all documents   including and not limited to statements, reports, returns, certificates and   information from time to time as required by lnnoVen and furnish and execute   all necessary documents to give effect to the security created under this   Agreement. 2.5. In the event of any breach or default by the Borrower or the   Guarantor in the performance of its obligations hereunder or any of the terms   and conditions stipulated in the Term Loan Agreement, or the Guarantee, the   Deed of Pledge or any other agreements that may hereafter be executed by the   Borrower and/or the Guarantor in favor of lnnoVen or in the event of the Borrower   failing to pay either the Interest or any installmenVs of the principal of   the Term Loan Amount, or in the event of the Lien, or security created in   favor of lnnoVen having become enforceable for any reason whatsoever, lnnoVen   or lnnoVen's Nominees or representatives shall, in case such breach or   default is not remedied by the Borrower, within the Cure Period, without any   notice and without assigning any reason and at the risk and Expense of the   Borrower, have the right and permission to enter the premises or location   where the Hypothecated Goods are located and seize, recover, receive and   remove and I or sell by public auction or by private contract and any other   manner as deemed fit by lnnoVen, any part of the Hypothecated Goods and to   enforce, realize, settle, compromise and deal with any rights or claims   relating thereto without being bound to exercise any of these powers or be   liable for any losses in the exercise or non exercise thereof and without   prejudice to lnnoVen's other rights and remedies. 2.6. Upon enforcement of   the Encumbrance created hereunder, in no event shall lnnoVen be liable to   purchasers of the Hypothecated Goods for any losses that may arise out of any   defect to the title of any of the Hypothecated Goods and any such losses   shall be to the account of the Borrower. 2.7. All the Hypothecated Goods and   all the proceeds received as a result of sale and insurance proceeds thereof   and all documents under this security shall be kept distinguishable f   separately and held as the property of lnnoVen, and the Borrower shall not   create Encumbrance upon the Hypothecated Goods or over the same or any part   thereof except in favour of lnnoVen nor suffer any such Encumbrance that may   prejudice the security under this Agreement. 5 lnnoVen 

    

 

except in the   ordinary course of business, sell or part with the Hypothecated Goods or any   of them and in the event of being specifically permitted by lnnoVen, the   Borrower shall on any and every such sale, pay to lnnoVen, if so required by   them, such portion of the net proceeds of the sale, which extend to the   extent of the monies, due and payable by the Borrower to lnnoVen under the   Loan Documents. 2.8. Notwithstanding, anything as contained above with   respect to sale of whole or part of the Hypothecated Goods, the Borrower may   without payment to lnnoVen, with the prior written consent of lnnoVen,   replace old and outmoded movables forming part of the Hypothecated Goods by   equipment of equivalent or greater value. However, the Borrower is not   required to obtain the consent of lnnoVen if the value of the Hypothecated   Goods proposed to be replaced is lesser than INR 5,000,000 (Rupees Five   Million Only) for each replacement and the aggregate value of the such   Hypothecated Goods does not exceed INR 50,000,000 (Rupees Fifty Million only)   per annum. 2.9. The security created on the Hypothecated Goods under this   Agreement shall be a continuing security for the repayment of the Term Loan   together with all Interest, Expenses and all other monies due to lnnoVen   under the Term Loan Agreement and the other Loan Documents, and this   continuing security shall not be affected or impaired or discharged in any   manner by winding up (voluntary or otherwise) or by any event of merger and   amalgamation, reconstruction or otherwise of the Borrower with any other   company or such other similar event. 2.10. The Borrower further undertakes to   execute such other deeds, agreements or documents as may be required by   lnnoVen including the Power of Attorney in the form as annexed as Schedule B   to this Deed of Hypothecation, to further protect and I or enforce the   security created under this Agreement on the occurrence of an Event of   Default. 2.11.Nothing contained herein shall affect or prejudice the rights   or remedies of lnnoVen in respect of any present or future security,   guarantee obligation or decree for any indebtedness or liability of the   Borrower to lnnoVen. 2.12.This Agreement forms part of the Term Loan   Agreement and the provisions contained herein shall be read together with the   provisions of the Term Loan Agreement as amended from time to time and to the   extent of any inconsistency or repugnancy the latter shall prevail. Further,   Section 13 ("Miscellaneous") and Appendix 1, Section 1.2   ("Construction") of the Term Loan Agreement shall apply mutatis   mutandis to this Agreement Capitalized terms used in this Agreement but not   specifically defined herein shall carry the meanings ascribed to such term   under the Term Loan Agreement. [Signature page follows] 6 lnnoVen 

    

 

IN WITNESS   WHEREOF, each of the aforenamed Parties has signed and executed this   Agreement, and all the original copies hereto, on the date first above   written. I BORROWER lloooVeo 7 FOR lnnoVen NAME: DESIGNAliON : PLACE: DATE:   FOR Y ATRA ONLINE PRIVATE LIMITED NAME: DESIGNATION: PLACE: DATE: 

    

 

SCHEDULE A   Particulars of the Hypothecated Goods The Hypothecated Goods consist of all   of Borrower's right, title and interest in and to the following properties I   assets: The Borrower's existing, future, fixed, current and non-current   assets, including any and all Intellectual Property and the Intellectual   Property Rights with respect to these movables present and future, accounts,   bank balances,receivables, book debts, deferred revenues, equipment,   inventory, contract rights or rights to payment of money, leases, license   agreements, franchise agreements, goodwill, uncalled capital, general   intangibles, documents, instruments (including any promissory notes), chattel   paper (whether tangible or electronic), cash, deposit accounts, fixtures,   letters of credit rights (whether or not the letter of credit is evidenced by   a writing), and all other investment property, supporting obligations, and   financial assets, whether now owned or hereafter acquired, whether installed   or not and whether now lying loose or in cases or which are now lying or   stored in or about or to be stored in or about the Borrower's premises held   by any party to the order or disposition of the Borrower, including in the   course of transits, whether in ship or land as enlisted below, and all Borrower's   books relating to the foregoing, and any and all claims, rights and interests   in any of the above and all substitutions for, additions, attachments,   accessories, accessions and improvements to and replacements, products,   proceeds and insurance proceeds of any or all of the foregoing. It is   clarified that the following assets of the Borrower are specifically excluded   from the definition of Hypothecated Goods: 1. INR 600,000,000 collateral and   cash margin in account no. maintained with ICICI Bank Limited by the Borrower   and any collection account of the Borrower including account numbers an -   maintained with ICICI Bank Limited as described in Annexure I to this Deed.   other vehicle and fixed deposits held by the Borrower over which lien has   been marked by banks, the details of which are specified in Annexure II to   this Deed; and a vehicle loan facility amounting to INR 20,000,000 (Rupees   twenty million only) to be availed by the Borrower from ICICI Bank Limited.   2. 3. 8 lnnoVen 

    

 

Schedule B   POWER OF ATTORNEY The Parties have entered into a Term Loan Agreement dated   [•], 2017 for the Term Loan Amount granted by lnnoVen to the Borrower   ("Term Loan Agreement'). The Parties have further entered into a Deed of   Hypothecation dated [•], to secure the payment and performance in full of all   of the Obligations under the Term Loan Agreement BY THESE PRESENTS, Yatra   Online Private Limited, a company within a meaning of the Companies Act, 1956   and having its registered office at B2, 202, 2nd Floor ,Marathon lnnova,   Marathon Nextgen Complex, Off. Ganpatrao Kadam Marg, Lower Pare! fYV), Mumbai   Maharashtra, 400013 and corporate office at 1101-03, Tower B, 1 fh Floor,   Unitech Cyber Park, Sector-39, Gurgaon-122001 (hereinafter referred to as the   "Borrower", which expression shall, unless repugnant to the context   or meaning thereof, include its successors and permitted assigns). HEREBY   NOMINATES, CONSTITUTES AND APPOINTS lnnoVen Capital India Private Limited, a   private limited company incorporated under the Companies Act, 1956 and   registered as a Non-Banking Financial Company within the meaning of the   Reserve Bank of India Act, 1934 having its registered office at 12th Floor,   Express Towers, Nariman Point, Mumbai 400021 (hereinafter referred to as the "lnnoVen",   which expression shall, unless it be repugnant to the subject or context   thereof, include its successors and permitted assigns) to be its lawful   attorney-in-fact in connection with the Term Loan Agreement and the Deed of   Hypothecation dated [•] entered into by the Parties to secure the payment and   performance in full of all of the Obligations under the Term Loan Agreement,   exercisable upon the occurrence and during the continuance of an Event of   Default under the Term Loan Agreement to: (a) (b) Endorse Borrower's name on   any cheques or other forms of payment or security; Sign Borrower's name on   any invoice or bill of lading for any account or drafts against account   debtors; settle and adjust disputes and claims about the Receivables directly   with account debtors, for amounts and on terms lnnoVen determines reasonable;   Make, settle, and adjust all claims under Borrower's insurance policies; Pay,   contest or settle any Lien, or Encumbrance, in or to the Collateral, or any   judgment based thereon, or otherwise take any action to terminate or   discharge the same; Transfer the Collateral in the name of lnnoVen or a third   party as permitted under Law and do all deeds and actions necessary in that   regard; and Execute and perform any other act or acts, deed or deeds, matter   or thing whatsoever which in the opinion of the Attorney ought to be done,   executed and performed, in order to protect and I or enforce the security   created under the Deed of Hypothecation and I or under the Term Loan   Agreement (c) (d) (e) (f) 9 lnnoVen BORROWER 

    

 

lawful   attorney-in-fact to sign Borrower's name on any documents necessary to   perfect or continue the perfection of any security interest regardless of   whether an Event of Default has occurred until all Obligations have been   satisfied in full. It is expressly agreed by the Parties that this Power of   Attorney shall be irrevocable and shall be in effect unless all the   Obligations under the Term Loan Agreement are fulfilled to the satisfaction   of lnnoVen. Further, it is also expressly agreed by the Parties that the Term   Loan referenced in the Term Loan Agreement shall constitute sufficient   consideration for the issuance of this Power of Attorney. Capitalized terms   not defined herein shall have the same meaning as assigned to them under the   Term Loan Agreement. IN WITNESS WHEREOF, the Borrower has signed and executed   this Power of Attorney on [•]. For the Borrower, Name: Title: 10 lnnoVen   BORROWER 

    

 

Annexure I   (Attached) lloooVec 11 Account No. Name of Bank Address IFSC Code lClCl Bank   Limited 9A, Phelps, Connaught Place, New Delhi - 110001 - lClCl Bank Limited   005 A Unitech Trade Centre, Sector Road, Sushant Lok Phase - 1, Gurgoan   122002 

    

 

Annexure II   (Attached) 1. As of July 31, 2017, the Company have availed a vehicle loan   facility of Rs. 32,698,764/-. 2. Fixed Deposits on which Lien is marked with   Banks are mentioned herein below: 6 7 8 9 13 14 Tower C, Building No.8,   Sector-Phase-11, Gurgaon 15 J ---12 lnnoVen ba Road, New Delhi 110001   Cyberctiy, 25, DLF City BANKING CORP. 600,000,000 740,119,907 ICICI BANK LTO   SCO 18 & 19, Sector 14, Huda Shopping Centre aon-122001

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00282-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00282-of-00352.parquet"}]]