LETTER OF AUTHORITY
(Hereinafter referred to as the “Bank” which expression unless excluded by or repugnant to the context will mean and include its successor-in-interest, legal representatives, administrators, assigns).
Sub: Letter of Authority to fill in the blanks in the blank dated cheques.
In consideration of the Bank granting us, COMPANY 1, a limited company incorporated under the relevant Companies Act, having its registered office at _______________________________, a Sale and Leaseback Facility of Tk. 1,00,00,000.00 (Taka one crore) only on the terms and conditions as stipulated in the Sale and Leaseback Agreement dated _____________ executed between the Bank and us (the ‘Facility’); we do hereby irrevocably authorise the Bank to fill in the blanks in the 46 (forty six) blank dated cheques submitted by us to the Bank to adjust the outstanding liabilities against the Facility, interest and other charges, payable by us in respect of the Facility granted by the Bank in favour of us. The Bank may fill in any date in the blank dated cheques and we shall not raise any objection to or question any of the dates filled in by the Bank.
This Letter of Authority shall be irrevocable until we adjust our liabilities under the Facility with the Bank to the full satisfaction of the Bank and until the Bank expressly releases us from our obligations.
|For and on behalf of:COMPANY 1
For: “The Lawyers & Jurists”
M.L.Hotel Tower Ltd, 208S hahid Syed Nazrul Islam Sarani,
Bijoy Nagar, Dhaka- 1000.