Declaration to Adherence Format for a Private Company

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Declaration to Adherence Format for a Private Company 

Date:

Declaration  

I/we _______________________l Pvt. Ltd. declare to adhere to the following covenants:

·          No Diversion of our funds to other sister/associate/group concern

·          Inform RFL about any major change in product-line, nature of business (any activity other than those indicated in the object clause of the MOA of the borrower)

·          No Change in Management set up (transfer of the controlling interest), shareholding of key promoters without RFL permission.

·          No Undertaking of gurantee obligation on behalf of any other borrower/organizations without prior permission of RFl.

·          Minimum networth Level to be maintained.

·          Upper limit on leverage.

·          Inform RFL, in case of any loss of any main contract/tie up (basis of loan sanction)which can impact top line, bottom line, repayment capacity or in case of strike / lock-out due to labor/other issue. 

 

Authorized Signatory:

 

 

…………………………………………..

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