Common use of Discretionary Authority Clause in Contracts

Discretionary Authority. By entering into the Agreement, you grant Blackfinch the full authority to manage your portfolio of loans at our sole discretion and without prior reference to you or your intermediary. We will, at our discretion and through our Nominee Company, enter into our standard loan agreement with the borrower on your behalf as your agent on such terms as we see in accordance with the objectives and principles set out in the Blackfinch Corporate Management Service Brochure. The current standard loan agreement is appended to this Agreement. On entering the loan agreement as above, we will transfer the relevant amount from our Corporate Client Account to the borrower in order to give your shareholders the benefit of business relief on the value of your shares. It is at this point that you will start earning interest on the loan. Blackfinch, or any person we appoint for such purpose, shall have complete discretion regarding the management of the portfolio of loans including but not limited to the ability to: 1. select the loans that you will enter into; 2. execute the loans including the execution of any loan agreements on your behalf;