Document ID: chunk:federal_register_of_legislation:C2024C00682:schedule:1:p42
Version: federal_register_of_legislation:C2024C00682
Segment Type: schedule
Provision Reference: sch 1 (pt 42/50)
Character Range: 174422–176960

without notice to the Applicant.
       (iii) If the loan is not drawn before the expiration of three months from the date of approval of the application by the Bank, the Applicant shall pay a commitment fee as set out in Item 5 of the Schedule, being a percentage per annum of the amount of the loan undrawn, calculated on a daily basis from the date of approval until the loan is drawn, or in the case of a progressive loan, the first drawdown of the loan, provided that the Bank at its discretion may require the Applicant to pay the commitment fee on the undrawn instalments of such progressive loan until the loan is fully drawn. The commitment fee shall be paid upon drawdown of the loan or upon the final drawdown of the loan in case of a progressive loan.
   9. Notwithstanding Clause 8 (iii) hereof or the fact that a commitment fee may have been charged by the Bank if the Applicant does not avail of the loan or any part thereof within twelve months of the date of issue of the entitlement certificate (or, if no Entitlement Certificate is issued, within twelve (12) months of the date of approval of the loan) the Bank may thereafter at any time elect that it shall no longer be under any obligation to make the loan hereby applied for provided that the Bank shall give to the Applicant not less than one months notice of its intention to exercise such election and the Applicant shall have the right to draw the loan (subject to the terms and conditions) prior to the expiration of the period mentioned in such notice; provided always that if the Bank does elect not to make the loan it shall not affect the Applicant's right to apply for further loans under the Scheme or otherwise.
   10. The Applicant shall pay, or reimburse the Bank on demand, or at its discretion the Bank may debit the Applicant's account, for all costs, charges and expenses of every description which the Bank may according to its usual practice incur in connection with:—
     (a) this application, the loan, any instrument executed by the Applicant pursuant to these terms and conditions or any of the securities or any other document given or which may be given in relation to the loan, and
     (b) the exercise or attempted exercise of any power or remedy pursuant to these terms and conditions, any of the securities or any other document or otherwise in respect of the loan,
   including, but not limited to, all charges for legal advice or assistance as between solicitor and client, stamp duty and search and registration fees. The Bank may