Common use of The Bank is obliged to Clause in Contracts

The Bank is obliged to. 11.26.1 Under the regulation established by the legislation, notify the client on termination of the credit product agreement and anticipated legal consequences, giving a reasonable term to perform the breached obligations; 11.26.2 In case of request of the client, without any additional charge, provide the client with information on used limit, interest rate, payable amount, etc. 12.1 The client is obliged to: 12.1.1 For any kind of bank service/for use of bank product, pay the Bank the commission fee and/or any other fee, necessary for receiving the bank service; 12.1.2 Promptly notify the Bank on changes and additions made to the documents and information submitted to the Bank, among them on any change to contact data (legal/actual address, telephone number, email etc.). Also, keep the devices necessary for communication and the network (among them mobile phone, computer, internet) in an operable/active condition. Otherwise, the Bank shall bear no responsibility for the consequences/damages resulting; 12.1.3 Promptly notify the Bank in writing regarding disposal of the account, carrying out transactions on the account, on change of the persons authorized to receive information about the account and/or charge of their authorization and submit the respective written documents to the Bank. The obligation to notify outlined in the indicated clause applies to all those documents submitted to the Bank and under which the client is authorized to act on their own behalf. Prior to submission of these documents to the Bank, the Bank carries out transactions to the accounts on the basis of the previously submitted documents and the signature sample; 12.1.4 When opening each account, submit the documents requested by the Bank regarding the client’s tax/entrepreneurial status. Also, promptly notify of any change to the above indicated status; 12.1.5 Use the accounts opened by the Bank for them for entrepreneurial purposes only in the event they have the relevant tax/entrepreneurial status and the Bank is preliminarily informed on this. Otherwise, the client is requested not to use their accounts for entrepreneurial activities; 12.1.6 When performing transactions on the account(s), to submit full, exhaustive and accurate information to the Bank on the purpose of the transaction/payment and submit to the Bank any requested document (copies of documents proving grounds for transfer); 12.1.7 Submit to the Bank any requested document for carrying out of a transaction, which is needed by the Bank for thorough identification of the client, for establishing the nature of the transaction, purpose, type of transfer and compatibility of the subject transaction with the legislation; 12.1.8 Notify the Bank about accidentally transferred money to his account within 1 (one) banking day after receiving information on the transfer of money accidentally to his/her account and return said funds; 12.1.9 In advance and promptly inform the Bank on any change of citizenship/residence, moving registration to another country, exiting the tax regulations of Georgia, registering in another country or in an offshore zone, or any such circumstance which substantially changes their legal/tax payer status throughout the territory of Georgia. In case any of the indicated circumstances occur, the Bank shall be authorized to terminate the present agreement prior to the due date and/or any other agreement/covenant processed on its basis, with associated legal consequences; 12.1.10 Fully abide by the terms and conditions set forth herein and the regulations/procedures for use of bank products established by the Bank; 12.1.11 Provide to the Bank information deriving from the requirements established by the agreement “between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTA)”; 12.1.12 Compensate the Bank for any kind of damage incurred to the Bank as a result of a breach of terms of the present agreement and/or any other agreement/covenant processed under such agreement and/or requirements of the legislation; 12.1.13 Use the payment instrument consistent with the terms established for such payment instrument; 12.1.14 Follow the payment instrument security measures assigned to them, ensuring protection of personalized means of such instrument; 12.1.15 In the event of losing, stealing, illegitimate appropriation or revealing the fact of the illegitimate use of the payment instrument, within the shortest period after disclosure, notify the Bank or the person determined by the Bank of such a fact; 12.1.16 Periodically check the information posted on the web page of the Bank, including statements, changes and additions. 12.2 The client is authorized to: 12.2.1 Receive an abstract of the balance of the account and the performed transactions; 12.2.2 Issue orders to the Bank to carry out transactions on accounts, which are not prohibited by legislation; 12.2.3 Use services/products offered by the Bank; 12.2.4 Terminate the present agreement under the rule established by the present agreement, by means of sending a preliminary written notice to the Bank; 12.2.5 At any time, to apply with the respective application and request termination of a particular banking product/service, including closing the account, only in case the client does not have any unfulfilled liability (financial or other) deriving from the particular banking product/service owed to the Bank. The Bank is entitled, if the client requests to close their bank card account(s), not to close those account(s) for 30 (thirty) calendar days. As of the moment of receiving the client’s application regarding accounts to be closed, all commission fees (if any) will stop accruing; 12.2.6 By using any remote channel/electronic means of communication of the Bank, submit a request to receive a copy of the credit/deposit product agreement created between the client and the Bank (including credit/deposit product agreement received by means of remote channels) and receive a copy of the respective agreement remotely and/or at the relevant branch/service center of the Bank. 12.3 The Bank is authorized to: 12.3.1 Request any information and document from the client regarding opening an account, for the purpose of full identification of the client and establishing conformity of the transaction(s) exercised on the account(s) of the client/to be performed with the legislation; 12.3.2 Perform transactions on the client’s account(s) under the regulations established by the legislation; 12.3.3 Under the order of the client and/or without, under the regulations of the present agreement and those envisaged by the legislation, write-off amounts from the client’s account(s); 12.3.4 At its own discretion and/or in cases envisaged by the legislation, refuse to provide the client an account service; 12.3.5 Not perform the order of the client, in the event the client fails to produce the information requested by the Bank and/or the Bank suspects the inconformity of the transaction with the legislation; 12.3.6 Offset liabilities of the client to the Bank through any liabilities owed by the client to the Bank; 12.3.7 Offer the client, using remote channels (including internet bank, ATM, telecommunication means. etc.) and offer and activate various bank products and services; 12.3.8 Store the communication of the client with the Bank (both material and electronic) and telephone records. The client confirms that the data (information) outlined in the present clause may be used by the Bank as evidence it represents the ownership of the Bank and has legal force; 12.3.9 Terminate the present agreement and/or any agreement processed on its basis and/or close any account of the client opened at the Bank in the event: 12.3.9.1 The (documented and/or electronic) information about the client existing at the Bank and/or submitted by the client turns out to be inaccurate; 12.3.9.2 Any of the conditions precedent, additional conditions and/or any request of the Bank to the client are breached; 12.3.9.3 There is no amount of commission fee on the account determined by the Bank and necessary for account servicing and/or closing, and no transaction is performed on the account for at least one year; 12.3.9.4 Closing the account is determined on a court decision; 12.3.9.5 The successor of the client presents the inheritance certificate; 12.3.9.6 The client breaches the terms and obligations envisaged by the present agreement and/or other agreement/covenant processed on its basis; 12.3.9.7 The client refuses to submit/does not submit in the period determined by the Bank and/or provides inaccurate/incomplete information deriving from the requirements of the “agreement between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTA)” and/or otherwise violates the requirements deriving from the indicated act; 12.3.9.8 The indicated is envisaged by the present agreement and Georgian legislation; 12.3.10 Unless otherwise established by clause 12.3.9 of the present agreement, at its own discretion and unilaterally, without additional consent from the client, fully or partially revoke and/or temporarily suspend bank product(s)/service at any time, of which it shall notify the client, consistent with the terms envisaged by the agreement. 12.4 The Bank is obliged to: 12.4.1 Timely and by accurately observing the information presented by the client, perform bank transactions and during such transactions follow the requirements of the effective legislation; 12.4.2 Upon request of the client, submit an abstract from the bank account and/or any other information on their account and transactions made to the account; 12.4.3 Upon request, provide information to the client about the tariffs established for the bank service and the service commission fee; 12.4.4 Fully abide by the terms of the present agreement; 12.4.5 Undertake all possible measures to ensure the security of the payment instrument and prevent its illegitimate use; 12.4.6 Not make the personalized security specifications of the payment instrument and the means available to the other persons, other than the owner of this instrument; 12.4.7 Clearly inform the client of requirements of payment instrument security; 12.4.8 At any time ensure receipt of the notification determined by clause 12.1.5; 12.4.9 Upon the receipt of the notifications determined in clause 12.1.5 by the client, promptly prevent further utilization of the payment instrument.