8. EXPENSES

(a) The Borrower shall pay to the Bank and shall fully indemnify and reimburse upon demand all costs, charges and expenses (including legal and other professional expenses, stamp, registration or other duties and any VAT) incurred by the Bank in connection with the preparation and execution of, the obtaining of any documents required under, and the enforcement of, or preservation of any rights under this Agreement or otherwise in connection with the Facility(ies). Failure to pay these amounts on their due dates or on demand date as applicable, the Bank reserves the right to debit the same together with any interest accrued on the amounts from the Borrower’s account.

(b) The Borrower shall be required to deposit on or before the approval date an appropriate amount in the account for the purpose of meeting preliminary cost and expenses. In the event that there are insufficient funds in the Borrower’s account, the Bank reserves the right to deduct these costs and expenses from the loan amount and credit the Borrower’s account with the net loan proceeds.