Place:
Date:
Loan Agreement
1. Parties of the Agreement
1.1. "The lender"‐ JSC Microfinance Organization Crystal; registration number: 212896570; legal address: 72 Tamar
Mepe Str., Kutaisi, 4600 Georgia
1.2. "The Borrower"‐
"The lender" and "The Borrower" acting under the Country legislation and the rights under the charter of the lender,
have agreed on the following:
2. Subject of the Agreement
2.1. On the basis of the terms specified in this Agreement, the Lender is providing the Borrower with the loan
2.2. Lender and Borrower take responsibility to fulfill commitments towards each other fully and in a due time
3. General Terms and Conditions of the Loan
3.1. Volume and currency of the Loan
3.2. Maturity of the Loan (# of month)
3.3. Grace period
3.4. Interest rate
3.5. Commission (Origination) fee
3.6. Penalty for the late payment
3.7. Penalty for pre‐payment
3.8. Purpose of the loan
3.9. Loan Provision/Collateral
3.10. Additional conditions
3.10.1 The Borrower should use the loan only according to the information/purpose given in the loan application.
Otherwise such activity will be deemed as misuse of the loan and may result in termination of the Agreement.
3.10.2. Loan repayment is carried out in accordance with the attached repayment schedule, which is an integral part
of this agreement.
3.10.3. In case if financial position of the Borrower deteriorates or there is such potential hazard, the borrower should
present additional provisioning/guarantees that will be deemed by the lender as satisfactory.
3.10.4. The order of the loan repayment is as follows: first penalty is covered (in case if such liability exists); then
accumulated interest; and finally principal of the loan.
3.10.5. In case of loan disbursement in several tranches, interest is accumulated based on the actual loan balance. As
agreed between the parties, proper use of the first tranche represents an obligation for disbursing remaining part of
the loan. In case of violating this point, the Lender has right to suspend the remaining part of the tranche and require
immediate repayment of the disbursed amount.
3.10.6. Penalty fee on late payment will be charged for maximum 90 days.
3.10.7. The Lender keeps right to retain commission fee from the original loan amount.
3.10.8. In case of refinancing, if more than 40% of the loan principal is covered, the Lender keeps its right to free the
borrower from penalty charges for early pre‐payment.
4. Reporting
4.1. Upon request of the Lender, Borrower should present financial and legal documentation, reflecting current
activity and financial status: invoices, customs declarations, agreements with suppliers and clients, licenses and
certificates, balance sheet and etc.
5. Rights and Responsibilities of the Parties
5.1. The parties are required to duly execute all the responsibilities undertaken under this agreement. Therefore,
each party has right to require execution of undertaken responsibilities.
5.2. The parties are responsible to keep each other's business reputation and keep business information confidential.
5.3. The Borrower is required to duly cover all liabilities undertaken under this agreement, repay the taken loan and
interest accumulated on it.