Common use of Repayment Clause in Contracts

Repayment. 7.1 The amount to be repaid to Ferratum is indicated in your Invoice. Failure to receive the Invoice does not relieve you of the obligation to repay the amounts due. If the Invoice is not received within fifteen (15) calendar days from the date on which it is due to be issued, you shall notify Ferratum. 7.2 You shall settle at least the Minimum Payment Amount by Due Date. You may repay a higher amount at any time at no extra cost by using the same procedure for repayment as indicated in this clause. Nominal interest shall be calculated according to the time the Credit is actually used. The Service Fee and the Subscription Fee shall continue to accrue for such time as the Credit Agreement is valid. The Service Fee shall not be charged during any invoicing period during which you do not owe any amount to Ferratum. Any amounts payable to Ferratum must be repaid in Euro. Otherwise, you shall cover all costs related to the exchange of such currency to Euro. 7.3 You shall repay through the Account, if such possibility is offered by Ferratum, or by bank transfer to an account indicated by Ferratum in the Account indicating the reference number specified in the Invoice in the payment details. If this is not done and Ferratum is unable to identify the payment, then the payment is considered not to have been received and you shall be liable to pay the default interest and any other fees which are a consequence of late payment. Alternatively, you may be required to complete a direct debiting and/or standing order and/or recurring payment mandate for the agreed periodic payments. In such a case, Ferratum reserves the right to reject any payment which is not made in such manner at your expense. Ferratum may, notwithstanding any intervening expiry date, continue to present direct debits/standing orders/recurring payment orders for the agreed periodic payment amounts until the full amount due has been repaid. 7.4 Any amount shall be considered to have been repaid when it is received in the bank account of Ferratum. Fees imposed by your financial/credit institution for the transfer shall be at your cost. Ferratum reserves the right to refuse any payment made to it which is not received from a bank account held in your name. 7.5 The order of allotment of payments shall be the following: (1) any costs of recovery of any amounts due; (2) any default interest;

Repayment. 7.1 The amount to be repaid to Ferratum is indicated in your Invoice. Failure to receive the Invoice does not relieve you of the obligation to repay the amounts due. If the Invoice is not received within fifteen (15) calendar days from the date on which it is due to be issued, you shall notify Ferratum. 7.2 You shall settle at least the Minimum Payment Amount by Due Date. You may repay a higher amount at any time at no extra cost by using the same procedure for repayment as indicated in this clause. Nominal interest shall be calculated according to the time the Credit is actually used. The Service Fee and the Subscription Fee shall continue to accrue for such time as the Credit Agreement is valid. The Service Fee shall not be charged during any invoicing period during which you do not owe any amount to Ferratum. Any amounts payable to Ferratum must be repaid in Euro. Otherwise, you shall cover all costs related to the exchange of such currency to Euro. 7.3 You shall repay through the Account, if such possibility is offered by Ferratum, or by bank transfer to an account indicated by Ferratum in the Account indicating the reference number specified in the Invoice in the payment details. If this is not done and Ferratum is unable to identify the payment, then the payment is considered not to have been received and you shall be liable to pay the default interest and any other fees which are a consequence of late payment. Alternatively, you may be required to complete a direct debiting and/or standing order and/or recurring payment mandate for the agreed periodic payments. In such a case, Ferratum reserves the right to reject any payment which is not made in such manner at your expense. Ferratum may, notwithstanding any intervening expiry date, continue to present direct debits/standing orders/recurring payment orders for the agreed periodic payment amounts until the full amount due has been repaid. 7.4 Any amount shall be considered to have been repaid when it is received in the bank account of Ferratum. Fees imposed by your financial/credit institution for the transfer shall be at your cost. Ferratum reserves the right to refuse any payment made to madeto it which is not received from a bank account held in your name. 7.5 The order of allotment of payments shall be the following: (1) any costs of recovery of any amounts due; (2) any default interest;