Loan Agreement (Page 2 of 3) in pdf

5.4. After the Lender makes a written requirement, the Borrower should present within 5 business days all

information and documents required by the lender concerning his business activity. Borrower should also

provide adequate conditions for the lender to get any information required for implementing this agreement.

5.5. The Borrower should notify the lender about:

‐ Potential changes in financial or property conditions or those factors that may lead to such changes

‐ Change of living place or business location and the date of such change.

5.6. The Lender claims and ensures that:

‐In case if dispute arises between the parties, unpaid accumulated interest will be deemed as liability;

‐Putting and implementation of the given agreement does not violate terms of the Lender’s charter

documentation or any other transaction to which the borrower is a party;

‐the Borrower will not refrain from implementing all undertaken obligations or will not transfer his

responsibilities to a third party without getting preliminary written consent from the Lender;

‐The Borrower is not engaged in any court proceeding that may endanger its property and/or assets.

5.7. While this agreement remains in force, the Borrower has no right to undertake any other credit liabilities from

third parties (physical or legal) without first informing the Lender in advance.

5.8. The Lender has right to conduct periodic monitoring of the borrower’s business activity, control financial status

of the borrower and check for changes in loan provisioning. The frequency of monitoring and number of visits is

determined by the lender without giving prior notification to the borrower.

5.9. During credit relationship, the borrower takes responsibility to provide adequate conditions and opportunity to

lender representatives for conducting financial monitoring of the loan.

5.10. The Lender takes responsibility to provide Borrower with full and clear information on the loan, inform about all

potential fees and charges, and clarify the Lender’s social responsibility as well as borrower’s rights

6. Grounds for contract termination

6.1. The Lender has right to terminate the agreement and all relevant contracts and require from the borrower

immediate repayment of the liabilities in case if:

6.1.1. The Borrower or any third parties involved in loan provisioning agreements or their legal representatives violate

responsibilities taken towards the lender;

6.1.2. Financial position of the Borrower (or guarantor) deteriorates and will endanger due and proper execution of

the responsibilities;

6.1.3. The Borrower provides wrong and false information to the lender;

6.1.4. Items presented as loan provision get destroyed, damaged or decrease in value.

6.1.5. The loan is not used for due purpose by the Borrower;

6.1.6. Equity of the Borrower sharply goes down;

6.1.7. The case indicated in point 5.7 occurs;

7. Other conditions

7.1. The Borrower agrees to provide his credit information to the National Credit Bureau: JSC "Credit Info Georgia",

which may give access to this information to all authorized parties;

7.2. The given agreement becomes valid from the moment both parties put their signatures and remains in force till

all obligations undertaken by the parties are fully met.

7.3 Any changes and addition to the present agreement are to be done in the written form and are considered as the

integral part of the agreement.

7.4. The present agreement is regulated by the Georgian legislation.

7.5 Any disputes that rise between parties should be discussed by mutual understanding. In case parties failed do

come to agreement, the dispute will be discussed in the court.

7.6. The parties agreed the place of the agreement implementation is to be the legal address of the Lender

7.7. Stoppage of any paragraphs of the Agreement does not give rise to stop the full agreement or other paragraphs.

7.8. Non usage of its rights‐responsibilities by any party does not mean its rejection.

7.9. The present agreement is prepared in three equal in rights copies. One copy is passed to the Borrower

8. Signatures

"The Lender"

"The Borrower"

Loan Agreement Page 2

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