Common use of Acceptance by the Borrower Clause in Contracts

Acceptance by the Borrower. The Borrower accepts the Lender’s offer by sending a confirmation email (hereinafter “Confirmation Email”). This Confirmation Email is sent either from the Borrower or the Operator on behalf of the Borrower to the email address specified on the Platform by the Lender. Upon arrival of the Confirmation Email the Loan Agreement is concluded. The Borrower explicitly reserves the right to refuse the Lender’s offer at any time. The Lender has no claim regarding the acceptance of his/her offer. From the date of acceptance of the loan offer by the Borrower, the Lender has the right to withdraw from the loan contract for 14 days (hereinafter “Cancellation Period”). We expressly point out the right of withdrawal in accordance with Appendix 1. In case the loan offer by the Lender is rejected by the Borrower, the Lender will be notified via email. The loan amount shall be transferred back to the Lender’s account within 7 days after the rejection. With the acceptance of the offer by receiving the Confirmation Email the Lender must pay in the entire loan amount to the Escrow-Account within seven days as laid out in described in the Confirmation Email. The transfer can be made using all the payment methods offered by the platform, including: bank transfer, SEPA direct debit, credit card (up to a maximum of EUR 1,500), SOFORT and use of funds already available on the Investor Wallet. If the lender does not comply with his obligation to pay within seven days, the loan agreement expires automatically, without the need for a separate termination by the borrower. It is explicitly referred to the following facts, that