Common use of Amendments Clause in Contracts

Amendments. 13.1. The Credit Agreement may be amended at any time as a consequence of changes in legislative, economic and business requirements and/or changes to the technical environment and/or changes in product or service parameters. The procedure for amendments of the Credit Agreement shall be the following: Ferratum shall inform you of the amendments proposed. The amendments shall enter into force immediately upon notification if they are not disadvantageous towards you or if they derive from the applicable law. In other cases, you shall have the right to reject such changes by terminating the Credit Agreement within ten (10) calendar days of being notified of such changes by email or by post. In such a case you shall repay any amounts due in terms of the Credit Agreement within two months from when you send notice of termination. The Credit Agreement shall terminate on the expiry of such two month period. In the meantime, your right to effect drawdowns shall be suspended. If you do not request termination of the Credit Agreement within (10) ten calendar days from being notified of the proposed amendments, you shall be considered to have accepted the proposed changes, in which case such changes shall come into effect within ten (10) calendar days from the date on which you were notified of such proposed changes. 13.2. In the case of amendments to the interest rate, Ferratum shall be entitled to increase the interest rate agreed within the Credit Agreement by a maximum of percentage, by how many the interest rate increased compared to the status up to the day of conclusion of the Credit Agreement (alternatively compared to the status at the day of effectiveness of the last modification of the interest rate under this article) of whichever of the following indicators: (a) rate 1M PRIBOR (Prague InterBank Offered Rate), alternatively rate 3M PRIBOR declared (b) by the Czech National Bank (hereinafter referred to as the „CNB“);repo rate declared by the CNB; (c) lombard rate declared by the CNB; (d) discount rate declared by the CNB; (e) required amount of minimum reserves rate declared by the CNB; (f) yearly inflation rate compared to last calendar year published by the Czech Statistical office; or (g) other proportional macroeconomic indicator specified within the Agreement.

Amendments. 13.1. The Credit Agreement may be amended at any time as a consequence of changes in legislative, economic and business requirements and/or changes to the technical environment and/or changes in product or service parameters. The procedure for amendments of the Credit Agreement shall be the following: Ferratum shall inform you of the amendments proposed. The amendments shall enter into force immediately upon notification if they are not disadvantageous towards you or if they derive from the applicable law. In other cases, you shall have the right to reject such changes by terminating the Credit Agreement within ten (10) calendar days of being notified of such changes by email or by post. In such a case you shall repay any amounts due in terms of the Credit Agreement within two months from when you send notice of termination. The Credit Agreement shall terminate on the expiry of such two month period. In the meantime, your right to effect drawdowns shall be suspended. If you do not request termination of the Credit Agreement within (10) ten calendar days from being notified of the proposed amendments, you shall be considered to have accepted the proposed changes, in which case such changes shall come into effect within ten (10) calendar days from the date on which you were notified of such proposed changes. 13.2. In the case of amendments to the interest rate, Ferratum shall be entitled to increase the interest rate agreed within the Credit Agreement by a maximum of percentage, by how many the interest rate increased compared to the status up to the day of conclusion of the Credit Agreement (alternatively compared to the status at the day of effectiveness of the last modification of the interest rate under this article) of whichever of the following indicators: (a) rate 1M PRIBOR (Prague InterBank Offered Rate), alternatively rate 3M PRIBOR declared (b) declared by the Czech National Bank (hereinafter referred to as the „CNB“);repo CNB“); (b) repo rate declared by the CNB; (c) lombard rate declared by the CNB; (d) discount rate declared by the CNB; (e) required amount of minimum reserves rate declared by the CNB; (f) yearly inflation rate compared to last calendar year published by the Czech Statistical office; or (g) other proportional macroeconomic indicator specified within the Agreement.