“ Loan Application” means the application in the prescribed form as submitted from time to time by the Borrower to DMI for seeking financing
“ Financing Documents” means these GC, the Loan Application, the Loan Details Sheet, including the annexures hereto and any documents executed by the Borrower or as required by DMI, as amended from time to time “ Facility” means the maximum drawdown limit granted by DMI to the Borrower as per Loan Details Sheet, which may be available to the Borrower as a revolving credit “ EMI” means the equated monthly amount to be paid by the Borrower towards repayment of all outstanding Drawdowns and payment of interest (if applicable) as per Financing Documents “ Due Date” in respect of any payment means the date on which any amount is due from the Borrower to DMI, as provided in the Loan Details Sheet. “ Drawdown” shall mean each drawdown of the Facility within the Availability Period and as per the terms of the Financing Documents, including drawdown of any amount which becomes available against the Facility, pursuant to prepayment/ repayment of any earlier Drawdown “ Borrower’s Dues” means all sums payable by the Borrower to DMI, including outstanding Facility, Interest, all other charges, costs and expenses
“ Borrower” means the borrower as described in the Loan Details Sheet “ Available Facility Amount” means at any point of time the undrawn amount of the Facility, including any amount of the Facility which becomes available pursuant to any repayment or prepayment of all or part of any previous Drawdown “ Availability Period” shall mean the period within which the Borrower can request a Drawdown from the Facility and is as detailed in the Loan Details Sheet Shall mean and include its successors and assigns)ġ.1 The terms and expressions contained in these GC and the Loan Application Form are defined as under: GENERAL TERMS AND CONDITIONS OF LOAN (“ GC”) for loans by DMI Finance Private Limited having its registered officeĪt Express Building, Third Floor, 9-10, Bahadur Shah Zafar Marg, New Delhi THE BORROWER ALSO UNDERSTANDS THAT ON RECTIFICATION OF THE DELINQUENCY / DEFAULT IT WILL TAKE DMI/SAMSUNG AROUND 48 HOURS TO DEACTIVATE THE DEVICE FUNCTIONALITY RESTRICTION AND THE BORROWER CONFIRMS THAT IT SHALL HAVE NO CLAIMS PERTAINING TO REASONABLE TIME TAKEN BY DMI/SAMSUNG FOR DEACTIVATING THE DEVICE FUNCTIONALITY RESTRICTION. THE BORROWER UNDERSTANDS AND ACKNOWLEDGES THAT THE PRODUCT/MOBILE DEVICE SHALL BE DELIVERED WITH A MOBILE APPLICATION WHICH SHALL, ON OCCURRENCE OF EVENTS AS DETAILED HEREIN INLCUDING DELIQUENCY/DELAY IN PAYMENT, ACTIVATE THE DEVICE FUNCTIONALITY RESTRICTION BY DISABLING THE USE OF THE MOBILE DEVICE EXCEPT EMERGENCY CALLS AND RECEIVING OF CALLS.
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