Common use of CONCLUSION OF THE LOAN AGREEMENT Clause in Contracts

CONCLUSION OF THE LOAN AGREEMENT. 6.1. The Investor wishing to participate in the Auction must in advance create the Paysera Account, and have funds available on his/her/its Paysera Account. Along with the Offer, the Investor shall provide a payment order for the transfer of funds from his/her/its Paysera Account to the Borrower’s Paysera Account. The Investor hereby shall additionally grant the right and authorisation to the Operator, if necessary, for giving the instructions to Paysera LT, UAB to reserve and/or transfer (debit) the amount specified in the Offer from the Investor’s Paysera Account to the Borrower’s Paysera Account. 6.2. In any case, by participating in the Auction, the Investor shall make payments to the Borrowers from the Paysera Account opened in the name of that Investor. If, when participating in the Auction, the Investor makes payments from Paysera Account which is not opened in that Investor’s name, such Investor shall assume all the liability for any consequences (to the Investor, Operator and/or other persons) related to non-fulfilment of the requirement stated in this paragraph of the Agreement. 6.3. The Loan Agreement shall be concluded by means of the Auction and considered automatically concluded between the Borrower and the Investor/s who/which won the Auction as of the date of the end of the Auction. The winning Investors shall be those who/which before the expiration of a set term or moment, where the Application has been filled out at 100 percent, present their Offers faster than other Investors, under a condition that the Borrower shall be generally offered the full Loan Amount. 6.4. The Operator shall record and register all the Offers provided in the Auction in a chronological order. This procedure shall be established according to the time displayed on the Platform. 6.5. The Auction shall be organised by the principle of priority, i.e. the Auction shall be won by the Investors who/which present their Offers first. The Investor shall not be able to withdraw the Offer following its submission. 6.6. The Auction shall be considered to be non-initiated and the Loan Agreement on the basis of the Application shall not be concluded, if within 30 (thirty) calendar days of the start date of the Auction or within in a shorter period specified in the Application, there are no Offers presented that match the full amount of the Application, unless it is clearly indicated in advance that the Auction will be divided and executed in several stages until the total required Loan Amount is collected. 6.7. Upon closing of the Auction, the Platform shall send notifications to the Users regarding the results of the Auction, naming the winning Users and Offers, on the basis of which the Loan Agreements have been concluded. 6.8. Upon closing of the Auction, the Operator shall perform the following actions: (i) attribute a unique identification number to the Loan Agreement and send it to the e-mail address of the Borrower registered in the Operator’s database; (ii) obtain from the Borrower all the evidence of due provision of security for the Loan, (iii) make certain that at the time there are no known existing or potential grounds for non-performance or termination of the Loan Agreement, (iv) draw up a relevant Loan repayment schedule for the Borrower, and then (having performed these actions) shall approve debiting of the funds from the Investor’s Paysera Account and crediting them to the Borrower’s Paysera Account no later than on the following business day. 6.9. The Investor hereby confirms that the Operator shall have the right and authorisations to give the instructions to Paysera LT, UAB on behalf of the Investor to transfer (debit) the Debt Administration Fee specified in the Offer from the Investor’s Paysera Account to the Borrower’s Paysera Account from the Investor’s Paysera Account to the Operator. 6.10. Upon closing of the Auction, the Users shall have the possibility to find out in real time their Loan repayment schedule, payment status, outstanding balance and other information. The Users may be identified by indicating the User names and/or User Codes and/or real names and surnames.

CONCLUSION OF THE LOAN AGREEMENT. 6.1. The Investor Creditor wishing to participate submit the Offers and the Acceptances must be identified beforehand and have the necessary/ sufficient amount of funds in the Auction must in advance create the Paysera Account, and have funds available on his/her/its Paysera Account. Along with the Offer, the Investor shall provide a payment order for the transfer of funds from his/her/its Paysera Account to the Borrower’s Paysera Account. The Investor hereby shall additionally grant the right and authorisation to the Operator, if necessary, for giving the instructions to Paysera LT, UAB to reserve and/or transfer (debit) the amount specified in the Offer from the Investor’s Paysera Account to the Borrower’s Paysera Deposit Account. 6.2. In any caseThe Loan Agreement is concluded under the Auction Procedure or the Alternative Procedure. The Loan Agreement is deemed to be concluded under the Auction Procedure when the Borrower accepts the Offer(s) by the Creditor(s). The Loan Agreement is deemed to be concluded under the Alternative Procedure when the Creditor(s) accept the Borrower’s Offer, by participating in if the Auction, the Investor shall make payments to the Borrowers from the Paysera Account opened in the name of that Investor. If, when participating in the Auction, the Investor makes payments from Paysera Account which entire Offer is not opened in that Investor’s name, such Investor shall assume all the liability for any consequences (to the Investor, Operator and/or other persons) related to non-fulfilment of the requirement stated in this paragraph of the Agreementcovered at one hundred percent. 6.3. The Loan Agreement Operator shall be concluded record and register in chronological order all the Offers and/or Acceptances submitted by means Creditors under the Auction Procedure and the Alternative Procedure. This procedure is set according to the timer of the Portal. 6.4. Under the Auction and considered automatically concluded between Procedure, the winners are the Creditors who, by the due date established or until the Acceptance by the Borrower, will be quickest in submitting their Offer at a lower interest than other Creditors, if the Borrower and is offered the Investor/s full Loan Amount. Under the Alternative Procedure, the winners are the Creditors who/which won , by the Auction as of due date established or until the date of moment the end of the Auction. The winning Investors shall be those who/which before the expiration of a set term or moment, where the Application has been filled out at 100 Borrower’s Offer is covered by one hundred percent, present their Offers faster will be quicker than other InvestorsCreditors in submitting their Offer and/or Acceptance, under a condition that if the Borrower shall be generally is offered the full Loan Amount. 6.4. The Operator shall record and register all the Offers provided in the Auction in a chronological order. This procedure shall be established according to the time displayed on the Platform. 6.5. The Auction shall be organised by the principle of priority, i.e. the Auction shall be won by the Investors who/which present their Offers first. The Investor Creditor shall not be able allowed to withdraw cancel the Offer following its submissionand/or Acceptance after the moment of signing. 6.6. The Auction shall be considered or the Financing under the Alternative Procedure is deemed to be non-initiated and have failed if not enough Offers and/or Acceptances is submitted to cover the Loan Agreement on the basis of the Application shall not be concluded, if within 30 (thirty) calendar days of the start date of the Auction or within in a shorter period specified in the Application, there are no Offers presented that match the full amount of the Application, unless it is clearly indicated in advance that the Auction will be divided and executed in several stages until the total required entire Loan Amount is collectedrequested by the Borrower within the established term. 6.7. Upon closing the end of the AuctionAuction and after the Borrower accepts the Offers by the Creditor(s) and/or if the financing took place under the Alternative Procedure, the Platform shall send notifications to Users are informed on the Users regarding the results of the AuctionAuction results, naming and the winning Users and Offers, the Offers on the basis of which the Loan Agreements have been concludedwill be concluded are specified. 6.8. Upon closing the end of the AuctionAuction and after the Borrower accepts the Offers by the Creditor(s) and/or if the financing took place under the Alternative Procedure, the Operator shall perform the following actionsshall: (i) attribute assign a unique identification number to the Loan Agreement and send it to the e-mail Borrower’s email address of the Borrower registered in at the Operator’s database; (ii) obtain from the Borrower all the evidence of due provision of security for the Loan, (iii) make certain that at the time there are no known existing or potential grounds for non-performance or termination of the prepare a written Loan Agreement, (iv) draw up a relevant Loan repayment schedule for the Borrower, Agreement and then (having performed these actions) shall approve debiting of the funds from the Investor’s Paysera Account and crediting them send it to the Borrower’s Paysera Manager via a courier to sign; (iii) upon receipt of the signed Agreement (provided that all evidence regarding the validity and truthfulness of the guarantees is submitted, if such guarantees are provided for in the Loan Agreement), the Operator shall assign the funds of the Creditor(s) reserved in the Deposit Account to the Borrower and, no later than on the following next business dayday after the signing of the Loan Agreement by the Borrower, the Operator shall transfer the funds to the Borrower’s bank account. 6.9. The Investor Creditor hereby confirms that that, in the performance of the Loan Agreement concluded in accordance with the present Conditions, the Operator shall have be entitled to assign the right and authorisations to give the instructions to Paysera LT, UAB on behalf of the Investor to transfer (debit) the Debt Administration Fee specified Borrower’s funds in the Offer from Deposit Account, the Investor’s Paysera Account amount of which corresponds to the amount stated in the Offer, to the Borrower’s Paysera Account from funds in the Investor’s Paysera Account to the OperatorDeposit Account. 6.10. Upon closing of the Auction, the Users shall have the possibility to find out in real time their Loan repayment schedule, payment status, outstanding balance and other information. The Users may be identified by indicating the User names and/or User Codes and/or real names and surnames.