Common use of Bank is entitled to Clause in Contracts

Bank is entitled to. 16.26.1 Write off the amounts from any account of the customer at any time without his/her subsequent approval (without notice) for the purpose of fulfillment of any obligation before the bank and after arising of such an obligation. If indebtedness is set in a currency different from the currency of the sum on the account, the equivalent shall be determined by the bank as per the exchange rate existed at the moment of the write-off. 16.26.2 Transfer service fees payable to the National Agency of Civil Registry, Service Agency of the Ministry of Internal Affairs and/or other administrative bodies and/or other fees related to loan issuance (including insurance premium) from any account of the customer to the account of the corresponding person without customer’s subsequent approval (without notice); 16.26.3 Write off corresponding amount from any account of the customer, convert it into national currency, transmit it to customer’s GEL account and retransfer the amount to the account of the corresponding person at any time without his/her subsequent approval (without notice) in order to repay for the item or services purchased by the customer through the loan issued by the bank. 16.26.4 In case of payment outstanding for 14 (fourteen) days after the date stipulated by the payment schedule of any additional agreement (for any credit product) concluded on the basis of this agreement, the information about this fact shall be transferred to the following persons related to the client: owners of the property/Guarantors encumbered to secure the obligations of the client and the persons recorded in any application of the client for receipt of the credit product (family members, recommenders, contact persons and others). In addition, the Bank shall have the right, with the purpose to determine the location/contact information of the client only, to contact the person(s) depositing/transferring funds to the client’s account(s) – payer(s), and the client expresses prior consent to such action. 16.26.5 In the case of overdue payment of the amount, specified in the schedule of any additional contract (any credit product) concluded on the basis of this Contract for 14 (fourteen) days, to block the bank accounts of the borrower and/or the client’s guarantor(s) – limit active operations to/from accounts (withdrawal, transfer, conversion of amount, etc.). Only performance of incoming transfer/ amount depositing operations will be possible on the account(s).