Letter of Continuity Format For Loans in Banking

Sample Template Example of Beautiful Excellent & Highly Professional Letter of Continuity Format From Company / Borrower to Bank / Financial Institute / NBFC For Extending Loan Facility in India in Word / Doc / Pdf Free Download

LETTER OF CONTINUITY

(In case of a company/partnership firm/sole proprietorship concern, on respective letter heads)

                                                                                                          Place:

To,

The Manager,

Glass Facatory Limited

D-9, P7D, District Centre,

Nareal, New Delhi - 110 045

Dear Sir(s),

I/We SANATAN COMMERCIALS PRIVATE LIMITED(please strike off whichever is not applicable) a company incorporated under the provisions of the Companies Act, 1956 /a partnership firm registered under the provisions of the Indian Partnership Act, 1932/ sole proprietorship concern having its office/ place of business at 9, Poddar Street 9^th floor Kolkata 700069 acting through Anil Majumder and Sidharto Paul , who is duly authorized in that behalf vide board resolution/ letter of authority/ power of attorney dated 21/06/2015 (the “Borrower(s)”), enclose a Promissory Note dated 21/06/2015 for Rs 71,20,000 /- (Rupees SEVENTY ONE LACS TWENTY THOUSAND Only) payable on demand which is given to you (“DPN”) as collateral security for repayment to Glass Factory Limited, (hereinafter referred to as the “RFL”, including its successors and assigns) of any sum now due or which may hereafter become due from me/us to RFL in respect of  Rs 71,20,000 /- (Rupees SEVENTY ONE LACS TWENTY THOUSAND Only)  (hereinafter referred to as the “Facility”) granted by RFL vide Facility Agreement dated 21/06/2015. I/We hereby irrevocably and unconditionally agree, confirm and undertake that:

1. The DPN shall operate as continuing security to you to be enforceable for the repayment of the ultimate balance and/or all sums remaining unpaid under the Facility now or hereafter, including all interest to become payable in respect of / under the Facility or which may in future be advanced; and

2.  we will remain liable on the DPN notwithstanding payment made into the account of the Facility from time to time or the Facility being reduced or extinguished from time to time or even if the balance in the account of the Facility may be in  credit.

Yours faithfully,

(Name and signature of the Authorized Signatory)

Applicable where the Borrower is a Company:

[The Common Seal of the Company has been affixed

pursuant to its Board Resolution dated 21/06/2015

in the presence of ]

                     

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