Mortgage Undertaking
Preliminary binding commitment to perfect the registration of a mortgage within a stipulated timeframe.
Undertaking Wizard
Step 1 of 32026 Legal Precedence
An undertaking serves as an interim binding bridge before physical mortgage registration.
- Acts as a "Negative Lien" until mortgage perfection.
- Crucial for loan disbursements before ROC registration.
Banking Tip
Commitment Draft Preview
REGISTERED MORTGAGE UNDERTAKING
THIS UNDERTAKING is executed at Mumbai on this October, 2026 by ABC Cements Corp (CIN: L26942MH1999PLC123456), a company incorporated under the Companies Act 2013 and having its registered office at 123 Business Park, Mumbai, Maharashtra 400001 (hereinafter called the "BORROWER").
In Favor of the Following Lenders (The Consortium):
- State Bank of India (Lead Bank) having its office at Nariman Point, Mumbai.
- Syndicate Bank
- Canara Bank
- Indian Bank
WHEREAS the Lenders have sanctioned various loan facilities (the "Loans") to the Borrower as detailed below:
NOW THE BORROWER HEREBY IRREVOCABLY UNDERTAKES AND AGREES that it shall, within 30 days from the date hereof, execute and register a valid mortgage in favour of the Lenders in respect of its properties situated at Mumbai in the state of Maharashtra.
The Borrower further undertakes that the said properties are free from all encumbrances and it has a clear marketable title to the same.
For ABC Cements Corp
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