Examples of Clearing System in a sentence
If IHFL so require, the Borrower shall give to IHFL post dated cheque payable, from time to time and/or standing Instructions and/or salary deduction and/or a Mandate /Authorization for payment through Electronic Clearing System, in the prescribed form of IHFL, towards payment of EMI and other amounts payable by the Borrower.
Payments of principal in respect of each Note (whether or not in global form) will be made against presentation and surrender (or, in the case of part payment of any sum due, endorsement) of the Note at the specified office of the Registrar or the Fiscal Agent, provided that, in respect of any Notes in global form, such presentation and surrender shall be in accordance with the applicable rules and operating procedures of the relevant Clearing System.
Any such notice shall be deemed to have been given to the holders of the Notes on the day on which the said notice was given to the relevant Clearing System.