Liability of the Borrower
Liability of the Borrower for non-fulfillment or improper fulfillment of its obligations under the bank loan agreement
If the Borrower fails to fulfill its obligations under the bank loan agreement or fulfills them improperly, the Bank shall be entitled to:
- charge forfeit (fine, penalty);
- foreclose on the money on the Borrower's bank accounts, including those opened with other second-tier banks;
- assign and transfer its rights and obligations under the bank loan agreement to third parties specified in the law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan", including collection agencies;
- file a lawsuit in court to recover the amount of debt under the bank loan agreement, and to foreclose on pledged property extrajudicially (except for cases stipulated by the legislation of the Republic of Kazakhstan) or through court proceedings;
- apply any other measures stipulated by the legislation of the Republic of Kazakhstan or the bank loan agreement.