Common use of Payments and Interest Clause in Contracts

Payments and Interest. 4.1. Unless otherwise agreed in the Special Conditions, the Buyer shall make the Downpayment and pay the Seller or Factor the Contract Fee for the conclusion of the Agreement on the day of conclusion of the Agreement. 4.2. The Buyer is obliged to make Instalment Payments to the Factor in accordance with the Payment Schedule for the entire term of the Agreement. The Buyer shall have the right to demand from the Factor the presentation of the Payment Schedule free of charge at any time during the validity of the Agreement. 4.3. Among other things, the Buyer shall pay Interest to the Factor as a part of the Instalment Payment on each Payment Date, with the interest calculated on the outstanding Credit Amount, which is fixed at the beginning of each Interest calculation period, or on the Credit Amount (as agreed in the Special Conditions) and outstanding Agreement Fee (if the Agreement Fee for concluding the Agreement is not paid on the day of concluding the Agreement). The interest rate and how Interest is calculated is agreed in the Special Conditions. Until the first Payment Due Date for repayment of the Credit Amount, Interest shall be calculated based on the actual number of days per month and a 360-day year. Thereafter, Interest shall be calculated based on a 30-day month and a 360-day year. Interest shall be calculated and paid from the day of entry into the Agreement until (excluding) the last Payment Due Date for repayment of the Credit Amount under the Payment Schedule. 4.4. If the Buyer wishes to order from the Factor operations not specified in the Agreement (for example, introduction of amendments in the Agreement), the Buyer shall pay to the Factor the Contract Fee or another fee in accordance with the Factor’s price list, or, upon the agreement of the Buyer and the Factor, another service charge. 4.5. For payment of the contractual amounts, the Factor shall send the Buyer an invoice to the Buyer’s e-mail address specified in the Agreement, or, if the Buyer so desires, a hard copy of the invoice to the Buyer's address specified in the Agreement. If the Buyer wishes to receive from the Factor a hard-copy invoice for payment of the contractual amounts, the Buyer shall be obliged to pay to the Factor the corresponding fee (hard-copy invoice fee) for each delivery in accordance with the Factor’s price list. Failure to receive the invoice shall not affect the Buyer's obligation to make contractual payments to the Factor in accordance with the Payment Schedule. 4.6. If the Buyer fails to make the Instalment Payment or pay any other contractual amount by the Payment Due Date, the Factor shall have the right to demand from the Buyer a Fine for Delay, which is calculated on the outstanding debt amount in accordance with the stipulations of the Special Conditions, from the day following the Payment Due Date until appropriate fulfilment of the obligation. No Fine for Delay shall be calculated on the Interest and the Fine for Delay. 4.7. Should the amounts paid by the Buyer prove insufficient for the fulfilment of the Buyer’s obligations, the collection costs of the debt shall be deemed as paid in the first order, repayments of the Credit Amount in the second order, Interest due in the third order, and the Fine for Delay, contractual penalties and other fees and compensation of damage thereafter. 4.8. If the Buyer fails to pay the contractual amounts in a timely manner, the Factor shall have the right to demand from the Buyer compensation for the expenses incurred for the collection of the debt (i.e. the debt processing fee) in accordance with the rate(s) established in the Factor’s price list and/or the actual costs incurred by the Factor (the fees charged by the collection service provider and/or legal costs and/or bailiff’s fees). 4.9. Where the payment due date for an amount payable under the Agreement has not been fixed in the Payment Schedule and/or the Agreement, the amount must be paid by the payment due date established by the Factor in the invoice. 4.10. All contractual payments (except for the Contract Fee for the conclusion of the Agreement, if paid by the Buyer on the date of entry into the Agreement and the First Installment if both are paid to the Seller) shall be paid to the Factor’s account specified in the Special Conditions, and shall be considered as paid upon transfer of the corresponding amount to the aforementioned Factor’s account. The Factor shall inform the Buyer of any changes in the account information, as well as of other details required for the effecting of the payment. 4.11. In order to fulfil the payment obligations arising from the Agreement, the Buyer undertakes to conclude, for the benefit of the Factor, an e-invoice standing payment service agreement with regard to a Buyer’s current account opened in a credit institution operating in Estonia, authorising the corresponding credit institution to debit the Buyer’s account for the benefit of the Factor on the basis of the invoices presented by the Factor under the Agreement in accordance with the Payment Schedule or other contractual arrangements not reflected in the Payment Schedule, and to ensure the validity of the e-invoice standing payment service agreement during the validity of the Agreement. The Buyer is obliged to ensure availability of sufficient funds on the aforementioned account on the Payment Due Date for debiting of the contractual amounts. 4.12. The Seller and the Factor hereby warn the Buyer that any failure to pay the contractual amounts could have serious consequences for the Buyer (including the obligation to pay a Fine for Delay, premature termination of the Agreement, return of the Goods and the potential obligation to compensate for the Credit Amount, with deductions made under the Agreement). This in turn, may complicate the Buyer’s credit funding in the future.

Payments and Interest. 4.1. Unless otherwise agreed in the Special Conditions, the Buyer shall make the Downpayment and pay the Seller or Factor the Contract Fee for the conclusion of the Agreement on the day of conclusion of the Agreement. 4.2. The Buyer is obliged to make Instalment Payments to the Factor in accordance with the Payment Schedule for the entire term of the Agreement. The Buyer shall have the right to demand from the Factor the presentation of the Payment Schedule free of charge at any time during the validity of the Agreement. 4.3. Among other things, the Buyer shall pay Interest to the Factor as a part of the Instalment Payment on each Payment Due Date, with the interest . Interest shall be calculated on the outstanding Credit Amount, which is fixed at the beginning of each Interest calculation period, or on and in accordance with the Credit Amount (as agreed in the Special Conditions) and outstanding Agreement Fee (if the Agreement Fee for concluding the Agreement is not paid on the day of concluding the Agreement). The interest rate and how Interest is calculated is agreed in the Special Conditions. Until the first Payment Due Date for repayment of the Credit Amount, Interest shall be calculated based on the actual number of days per month and a 360-360- day year. Thereafter, Interest shall be calculated based on a 30-day month and a 360-day year. Interest shall be calculated and paid from the day of entry into the Agreement until (excluding) the last Payment Due Date for repayment of the Credit Amount under the Payment Schedule. 4.4. If the Buyer wishes to order from the Factor operations not specified in the Agreement (for example, introduction of amendments in the Agreement), the Buyer shall pay to the Factor the Contract Fee or another fee in accordance with the Factor’s price list, or, upon the agreement of the Buyer and the Factor, another service charge. 4.5. For payment of the contractual amounts, the Factor shall send the Buyer an invoice to the Buyer’s e-mail address specified in the Agreement, or, if the Buyer so desires, a hard copy of the invoice to the Buyer's address specified in the Agreement. If the Buyer wishes to receive from the Factor a hard-copy invoice for payment of the contractual amounts, the Buyer shall be obliged to pay to the Factor the corresponding fee (hard-copy invoice fee) for each delivery in accordance with the Factor’s price list. Failure to receive the invoice shall not affect the Buyer's obligation to make contractual payments to the Factor in accordance with the Payment Schedule. 4.6. If the Buyer fails to make the Instalment Payment or pay any other contractual amount by the Payment Due Date, the Factor shall have the right to demand from the Buyer a Fine for Delay, which is calculated on the outstanding debt amount in accordance with the stipulations of the Special Conditions, from the day following the Payment Due Date until appropriate fulfilment of the obligation. No Fine for Delay shall be calculated on the Interest and the Fine for Delay. 4.7. Should the amounts paid by the Buyer prove insufficient for the fulfilment of the Buyer’s obligations, the collection costs of the debt shall be deemed as paid in the first order, repayments of the Credit Amount in the second order, Interest due in the third order, and the Fine for Delay, contractual penalties and other fees and compensation of damage thereafter. 4.8. If the Buyer fails to pay the contractual amounts in a timely manner, the Factor shall have the right to demand from the Buyer compensation for the expenses incurred for the collection of the debt (i.e. the debt processing fee) in accordance with the rate(s) established in the Factor’s price list and/or the actual costs incurred by the Factor (the fees charged by the collection service provider and/or legal costs and/or bailiff’s fees). 4.9. Where the payment due date for an amount payable under the Agreement has not been fixed in the Payment Schedule and/or the Agreement, the amount must be paid by the payment due date established by the Factor in the invoice. 4.10. All contractual payments (except for the Contract Fee for the conclusion of the Agreement, if paid by the Buyer on the date of entry into the Agreement and the First Installment if both are paid to the SellerDownpayment) shall be paid to the Factor’s account specified in the Special Conditions, and shall be considered as paid upon transfer of the corresponding amount to the aforementioned Factor’s account. The Factor shall inform the Buyer of any changes in the account information, as well as of other details required for the effecting of the payment. 4.11. In order to fulfil the payment obligations arising from the Agreement, the Buyer undertakes to conclude, for the benefit of the Factor, an e-invoice standing payment service agreement with regard to a Buyer’s current account opened in a credit institution operating in Estonia, authorising the corresponding credit institution to debit the Buyer’s account for the benefit of the Factor on the basis of the invoices presented by the Factor under the Agreement in accordance with the Payment Schedule or other contractual arrangements not reflected in the Payment Schedule, and to ensure the validity of the e-invoice standing payment service agreement during the validity of the Agreement. The Buyer is obliged to ensure availability of sufficient funds on the aforementioned account on the Payment Due Date for debiting of the contractual amounts. 4.12. The Seller and the Factor hereby warn the Buyer that any failure to pay the contractual amounts could have serious consequences for the Buyer (including the obligation to pay a Fine for Delay, premature termination of the Agreement, return of the Goods and the potential obligation to compensate for the Credit Amount, with deductions made under the Agreement). This in turn, may complicate the Buyer’s credit funding in the future.

Payments and Interest. 4.1. Unless otherwise agreed in the Special Conditions, the Buyer shall make the Downpayment and pay the Seller or Factor the Contract Fee for the conclusion of the Agreement Contract on the day of conclusion of the AgreementContract. 4.2. The Buyer is obliged to make Instalment Payments Instalments to the Factor in accordance with the Payment Schedule for the entire term of the AgreementContract. The Buyer shall have the right to demand from the Factor the presentation of the Payment Schedule free of charge at any time during the validity of the AgreementContract. 4.3. Among other things, the Buyer shall pay Interest to the Factor as a part of the Instalment Payment on each Payment Date, with the interest calculated on the outstanding Credit Amount, which is fixed at the beginning of each Interest calculation period, or on the Credit Amount (as agreed in the Special Conditions) and outstanding Agreement Contract Fee (if the Agreement Contract Fee for concluding the Agreement Contract is not paid on the day of concluding the AgreementContract). The interest rate Interest Rate and how the manner of calculating the Interest is calculated is agreed are fixed in the Special Conditions. Until the first Payment Due Date for repayment of the Credit Amount, Interest shall be calculated based on the actual number of days per month and a 360-day year. Thereafter, Interest shall be calculated based on a 30-day month and a 360-360- day year. Interest shall be calculated and paid from the day of entry into the Agreement Contract until (excluding) the last Payment Due Date for repayment of the Credit Amount under the Payment Schedule. 4.4. If the Buyer wishes to order from the Factor operations not specified in the Agreement Contract (for example, introduction of amendments in the AgreementContract), the Buyer shall pay to the Factor the Contract Fee or another fee in accordance with the Factor’s price list, or, upon the agreement of the Buyer and the Factor, another service charge. 4.5. For payment of the contractual amounts, the Factor shall send the Buyer an invoice to the Buyer’s e-mail address specified in the AgreementContract, or, if the Buyer so desires, a hard copy of the invoice to the Buyer's address specified in the AgreementContract. If the Buyer wishes to receive from the Factor a hard-copy invoice for payment of the contractual amounts, the Buyer shall be obliged to pay to the Factor the corresponding fee (hard-copy invoice fee) for each delivery in accordance with the Factor’s price list. Failure to receive the invoice shall not affect the Buyer's obligation to make contractual payments to the Factor in accordance with the Payment Schedule. 4.6. If the Buyer fails to make the Instalment Payment or pay any other contractual amount by the Payment Due Date, the Factor shall have the right to demand from the Buyer a Fine for Delay, which is calculated on the outstanding debt amount in accordance with the stipulations of the Special Conditions, from the day following the Payment Due Date until appropriate fulfilment of the obligation. No Fine for Delay shall be calculated on the outstanding Interest and the Fine for Delay. 4.7. Should the amounts paid by the Buyer prove insufficient for the fulfilment of the Buyer’s obligations, the collection costs of the debt shall be deemed as paid in the first order, repayments of the Credit Amount in the second order, Interest due in the third order, and the Fine for Delay, contractual penalties and other fees and compensation of damage thereafter. 4.8. If the Buyer fails to pay the contractual amounts in a timely manner, the Factor shall have the right to demand from the Buyer compensation for the expenses incurred for the collection of the debt (i.e. the debt processing fee) in accordance with the rate(s) established in the Factor’s price list and/or the actual costs incurred by the Factor (the fees charged by the collection service provider and/or legal costs and/or bailiff’s fees). 4.9. Where the payment due date for an amount payable under the Agreement Contract has not been fixed in the Payment Schedule and/or the AgreementContract, the amount must be paid by the payment due date established by the Factor in the invoice. 4.10. All contractual payments (except for the Contract Fee for the conclusion of the AgreementContract, if paid by the Buyer pays it on the date of entry into day the Agreement Contract is concluded, and the First Installment if both are paid to the SellerDownpayment) shall be paid to the Factor’s account specified in the Special Conditions, and shall be considered as paid upon transfer of the corresponding amount to the aforementioned Factor’s account. The Factor shall inform the Buyer of any changes in the account information, as well as of other details required for the effecting of the payment. 4.11. In order to fulfil the payment obligations arising from the AgreementContract, the Buyer undertakes to conclude, for the benefit of the Factor, an e-invoice standing payment service agreement with regard to a Buyer’s current account opened in a credit institution operating in Estonia, authorising the corresponding credit institution to debit the Buyer’s account for the benefit of the Factor on the basis of the invoices presented by the Factor under the Agreement Contract in accordance with the Payment Schedule or other contractual arrangements not reflected in the Payment Schedule, and to ensure the validity of the e-invoice standing payment service agreement during the validity of the AgreementContract. The Buyer is obliged to ensure availability of sufficient funds on the aforementioned account on the Payment Due Date for debiting of the contractual amounts. 4.12. The Seller and the Factor hereby warn the Buyer that any failure to pay the contractual amounts could have serious consequences for the Buyer (including the obligation to pay a Fine for Delay, premature termination of the AgreementContract, return of the Goods and the potential obligation to compensate for the Credit Amount, with deductions made under the AgreementContract). This in turn, may complicate the Buyer’s credit funding in the future.