Common use of WITHDRAWAL FROM THE AGREEMENT Clause in Contracts

WITHDRAWAL FROM THE AGREEMENT. 7.1. The Borrower shall have the right to withdraw from the Agreement without advance notice within 1 month from the date set out in Article 1.9, when the Borrower has not received loans in the minimum amount indicated in Article 1.8 (including when the Borrower has used the right to withdraw from the loan agreements) through the Portal. The Borrower shall have the right to extend the term set out in Article 1.9 by 2 months, and if the Borrower has not received loans in the minimum amount indicated in Article 1.8 by the end of the additional term, the Borrower shall have the right to withdraw from the Agreement according to the procedure described in the previous sentence. The Borrower shall be considered as withdrawn from the Agreement also if the amount deducted from or booked on Lender’s Sub-Account for fulfilling the Agreement is repaid to Lender’s Sub-Account or released from booking (in such case the Borrower is not required to submit a separate withdrawal application to the Lender). 7.2. The Collateral Agent shall have the right to withdraw from the Agreement without prior notice if the conditions for the payment of the Loan Amount set out in Article 2 or Article 2.3 have not occurred no later than within 5 months from the initial date set out in Article 1.9 (i.e. not calculated from the term extended according to the procedure set out in Article 7.1). 7.3. If one of the Parties withdraws from the Agreement, the Agreement shall expire between all Parties. Each Party shall notify other Parties and Crowdestor OÜ of the withdrawal from the Agreement. In the event of withdrawal from the Agreement, the Borrower shall repay the Loan Amount without interest to the Lender within 10 working days.

WITHDRAWAL FROM THE AGREEMENT. 7.1. The Borrower shall have the right to withdraw from the Agreement without advance notice within 1 month from the date set out in Article 1.99, when the Borrower has not received loans in the minimum amount indicated in Article 1.8 (including when the Borrower has used the right to withdraw from the loan agreements) through the Portal. The Borrower shall have the right to extend the term set out in Article 1.9 by 2 months, and if the Borrower has not received loans in the minimum amount indicated in Article 1.8 by the end of the additional term, the Borrower shall have the right to withdraw from the Agreement according to the procedure described in the previous sentence. The Borrower shall be considered as withdrawn from the Agreement also if the amount deducted from or booked on Lender’s Sub-Account for fulfilling the Agreement is repaid to Lender’s Sub-Account or released from booking (in such case the Borrower is not required to submit a separate withdrawal application to the Lender). 7.2. The Collateral Agent shall have the right to withdraw from the Agreement without prior notice if the conditions for the payment of the Loan Amount set out in Article 2 or Article 2.3 have not occurred no later than within 5 months from the initial date set out in Article 1.9 (i.e. not calculated from the term extended according to the procedure set out in Article 7.1). 7.3. If one of the Parties withdraws from the Agreement, the Agreement shall expire between all Parties. Each Party shall notify other Parties and Crowdestor OÜ of the withdrawal from the Agreement. In the event of withdrawal from the Agreement, the Borrower shall repay the Loan Amount without interest to the Lender within 10 working days.