CONTRACTUAL PAYMENTS. 4.1. The Partner shall repay each Loan Amount to the Lender and pay the Interest pursuant to the terms and conditions of this Agreement and each individual Partner’s Loan Agreement. 4.2. After the Partner has received the payment of the principal amount of the loan from the Borrower or any third party as per the Borrower’s Loan Agreement, the Partner is obliged to repay the part of the Loan Amount as per the Loan Agreement related to the respective Borrower’s Loan Agreement that is calculated according to following formula: where (i) PA shall mean the part of the Loan Amount repayable by the Partner to the Lender, (ii) LA shall mean the Loan Amount at the repayment moment, (iii) RF shall mean the Reserved Funds at the repayment moment, (iv) OA shall mean the outstanding principal amount of the Borrower’s Loan at the repayment moment and (v) RA shall mean the payment of the principal amount of the loan received by the Partner from the Borrower or any third party as per the Borrower’s Loan Agreement. 4.3. After the Partner has received the interest payment from the Borrower or any third party as per the Borrower’s Loan Agreement, the Partner is obliged to pay the Interest that is accrued according to the Partner’s Loan Agreement related to the respective Borrower’s Loan Agreement. If the amount of interest payment received from the Borrower or any third party is lower than Interest accrued according to the Agreement, the Partner is obliged to pay the lower of the two amounts. 4.4. The Partner may repay the Loan Amount or a part thereof prior to the deadline specified in the Partner’s Loan Agreement, or unilaterally terminate each Partner’s Loan Agreement and make the Contractual Payments arising from terminated Partner’s Loan Agreement in full amount prior to the deadline specified in the Partner’s Loan Agreement. The Partner by repaying the Loan Amount in full must also make all payments due to the Lender pursuant to the Partner’s Loan Agreement for the time period until the moment, when the Partner has fully settled all of its loan obligations pursuant to the respective Partner’s Loan Agreement. 4.5. If any taxes or dues come in force during the validity period of the Agreement, or the circumstances out of the Lender’s control take place obligating the Lender to make additional payments or reduce the payments related to the Agreement, the Lender shall inform the Partner regarding such changes in writing 30 (thirty) days in advance, by sending the information on changes to the Partner. The Lender is entitled to accordingly increase or reduce Contractual Payments, by informing the Partner on the changes pursuant to this paragraph and sending the respective Settlement Report to the Partner. 4.6. Parties have agreed that for the services provided by the Lender to the Partner the Service Fee will be charged by the Lender from the Partner. Service Fee is calculated separately for each Applicable Currency on monthly basis from the total amount of all Reserved Funds and Loan Amount in each Applicable Currency at the respective moment. Service Fee is calculated every calendar month and payment is due during the first Report date after the expiry of each calendar month. The Service Fee subject to the payment is calculated and provided in the Settlement Report for the Contractual Payments. 4.7. Every day until 17.00 p.m. (Riga time) the Partner shall provide the Lender (or transmit electronically through the system of the Lender) with the data in relations to the repayments of ▇▇▇▇▇▇▇▇’s Loans as per this Agreement. Based on the data provided or transmitted by the Partner in relations to the Borrower, the Lender shall prepare and send to the Partner Settlement Report for the Contractual Payments once a week, each Report date, which will include the payment to be done for repayment of the Loan Amount, repayments arising after the receipt of Partner’s application regarding unilateral termination of the Partner’s Loan Agreement, Interest as per the Agreement and all Partner’s Loan Agreements for the period since the previous Report date (or since the conclusion of this Agreement, in case of first Report date) and the Service Fee. The Partner is obliged to pay amounts arising from the Settlement Report not later than within 5 (five) Business Days after its receipt. 4.8. The Parties agree that the Service Fee is fair and reasonable compensation for services provided by the Lender to the Partner and therefore each of the Parties waive any potential claims regarding the amount of the Service Fee and its payment terms. 4.9. Service Fee does not contain applicable Taxes (if any). All sums payable by the Partner under this Agreement shall be paid in full without set-off or counterclaim or any restriction or condition and free and clear of any Tax or other deductions or withholdings of any nature. If the Partner, Lender or any other person is required by any law or regulation to make any deduction or withholding on account of Tax or otherwise from, any payment, the Partner shall, together with such payment, pay such additional amount as will ensure that Lender receives free and clear of any such Tax or other deductions or withholdings the full amount which it would have received if no such Tax, deduction or withholding had been required. 4.10. The Partner shall make the Contractual Payments by transferring the funds to the Lender’s account specified in the Basic Provisions. The payment made by the Partner shall be considered as completed at the moment when it was received in the Lender’s account. 4.11. If the deadline of the Contractual Payment falls into weekend or a holiday, the payment shall be made on the next Business Day following the day when the Contractual Payment was due. 4.12. The Lender shall prepare the Settlement Report for the Contractual Payments in electronic format, and they are valid without a signature and seal. The Settlement Report shall be sent to the Partner upon the Lender’s choice either to the e-mail address specified in the Agreement or by mail to the legal address of the Partner specified in the Agreement.
Appears in 1 contract
CONTRACTUAL PAYMENTS. 4.1. The Partner shall repay each Loan Amount to the Lender and pay the Interest pursuant to the terms and conditions of this Agreement and each individual Partner’s Loan Agreement.
4.2. After the Partner has received the payment of the principal amount of the loan from the Borrower or any third party as per the Borrower’s Loan Agreement, the Partner is obliged to repay the part of the Loan Amount as per the Loan Agreement related to the respective Borrower’s Loan Agreement that is calculated according to the following formula: where (i) PA shall mean the part of the Loan Amount repayable by the Partner to the Lender, (ii) LA shall mean the Loan Amount at the repayment moment, (iii) RF shall mean the Reserved Funds at the repayment moment, (iv) OA shall mean the outstanding principal amount of the Borrower’s Loan at the repayment moment and (v) RA shall mean the payment of the principal amount of the loan received by the Partner from the Borrower or any third party as per the Borrower’s Loan Agreement.
4.3. After the Partner has received the interest payment from the Borrower or any third party as per the Borrower’s Loan Agreement, the Partner is obliged to pay the Interest that is accrued according to the Partner’s Loan Agreement related to the respective Borrower’s Loan Agreement. If the amount of interest payment received from the Borrower or any third party is lower than Interest accrued according to the Agreement, the Partner is obliged to pay the lower of the two amounts.
4.44.3. The Partner may repay the Loan Amount or a part thereof prior to the deadline specified in the Partner’s Loan Agreement, or unilaterally terminate each Partner’s Loan Agreement and make the Contractual Payments arising from terminated Partner’s Loan Agreement in full amount prior to the deadline specified in the Partner’s Loan Agreement. The Partner by repaying the Loan Amount in full must also make all payments due to the Lender pursuant to the Partner’s Loan Agreement for the time period until the moment, when the Partner has fully settled all of its loan obligations pursuant to the respective Partner’s Loan Agreement.
4.54.4. If any taxes or dues come in force during the validity period of the Agreement, or the circumstances out of the Lender’s control take place obligating the Lender to make additional payments or reduce the payments related to the Agreement, the Lender shall inform the Partner regarding such changes in writing 30 (thirty) days in advance, by sending the information on changes to the Partner. The Lender is entitled to accordingly increase or reduce Contractual Payments, by informing the Partner on the changes pursuant to this paragraph and sending the respective Settlement Report to the Partner.
4.5. The Partner shall pay the Connection Fee within 5 (five) Business Days as from the conclusion of this Agreement, based on the invoice of the Lender.
4.6. Parties have agreed that for the services provided by the Lender to the Partner the Service Fee will be charged by the Lender from the Partner. Service Fee is calculated separately for each Applicable Currency on monthly basis from the total amount of all Reserved Funds and Loan Amount in each Applicable Currency at the respective moment. Service Fee is calculated every calendar month and payment is due during the first Report date after the expiry of each calendar month. The Service Fee subject to the payment is calculated and provided in the Settlement Report for the Contractual Payments.
4.7. Every day until 17.00 p.m. (Riga time) the Partner shall provide the Lender (or transmit electronically through the system of the Lender) with the data in relations to the repayments of ▇▇▇▇▇▇▇▇’s Loans as per this Agreement. Based on the data provided or transmitted by the Partner in relations to the Borrower, the Lender shall prepare and send to the Partner Settlement Report for the Contractual Payments once a week, each Report date, which will include the payment to be done for repayment of the Loan Amount, repayments arising after the receipt of Partner’s application regarding unilateral termination of the Partner’s Loan Agreement, Interest as per the Agreement and all Partner’s Loan Agreements for the period since the previous Report date (or since the conclusion of this Agreement, in case of first Report date) and the Service Fee. The Partner is obliged to pay amounts arising from the Settlement Report not later than within 5 (five) Business Days after its receipt.
4.8. The Parties agree that the Connection Fee and the Service Fee is fair and reasonable compensation for services provided by the Lender to the Partner and therefore each of the Parties waive waives any potential claims regarding the amount of the Connection Fee, the Service Fee and its payment terms.
4.9. Connection Fee and Service Fee does not contain applicable Taxes (if any). All sums payable by the Partner under this Agreement shall be paid in full without set-off or counterclaim or any restriction or condition and free and clear of any Tax or other deductions or withholdings of any nature. If the Partner, Lender or any other person is required by any law or regulation to make any deduction or withholding on account of Tax or otherwise from, any payment, the Partner shall, together with such payment, pay such additional amount as will ensure that Lender receives free and clear of any such Tax or other deductions or withholdings the full amount which it would have received if no such Tax, deduction or withholding had been required.
4.10. The Partner shall make the Contractual Payments by transferring the funds to the Lender’s account specified in the Basic Provisions. The payment made by the Partner shall be considered as completed at the moment when it was received in the Lender’s account.
4.11. If the deadline of the Contractual Payment falls into weekend or a holiday, the payment shall be made on the next Business Day following the day when the Contractual Payment was due.
4.12. The Lender shall prepare the Settlement Report for the Contractual Payments in electronic format, and they are valid without a signature and seal. The Settlement Report shall be sent to the Partner upon the Lender’s choice either to the e-mail address specified in the Agreement or by mail to the legal address of the Partner specified in the Agreement.
4.13. The Party’s payment details provided in this Agreement may be changed by the Party by notifying the other Party thereof. Such notice shall be given via e-mail and changes enter into force on the next day as from the moment the Party has sent the respective e-mail to other Party.
Appears in 1 contract
CONTRACTUAL PAYMENTS. 4.1. The Partner shall repay each Loan Amount to the Lender and pay the Interest pursuant to the terms and conditions of this Agreement and each individual Partner’s Loan Agreement.
4.2. After If according to the Borrower’s Loan Agreement serving as the source of repayment of the respective Loan Amount under the Partner’s Loan Agreement the payments of interest for the use of the Borrower’s Loan are provided, Parties agree on the following terms for the Contractual Payments:
4.2.1. after the Partner has received the payment of the principal amount of the loan from the Borrower or any third party as per the Borrower’s Loan Agreement, the Partner is obliged to repay the part of the Loan Amount as per the Loan Agreement related to the respective Borrower’s Loan Agreement that is calculated according to following formula: where (i) PA shall mean the part of the Loan Amount repayable by the Partner to the Lender, (ii) LA shall mean the Loan Amount at the repayment moment, (iii) RF shall mean the Reserved Funds at the repayment moment, (iv) OA shall mean the outstanding principal amount of the Borrower’s Loan at the repayment moment and (v) RA shall mean the payment of the principal amount of the loan received by the Partner from the Borrower or any third party as per the Borrower’s Loan Agreement.;
4.34.2.2. After after the Partner has received the interest payment from the Borrower or any third party as per the Borrower’s Loan Agreement, the Partner is obliged to pay the Interest that is accrued according to the Partner’s Loan Agreement related to the respective Borrower’s Loan Agreement. If the amount of interest payment received from the Borrower or any third party is lower than Interest accrued according to the Agreement, the Partner is obliged to pay the lower of the two amounts.
4.3. If according to the Borrower’s Loan Agreement serving as the source of repayment of the respective Loan Amount under the Partner’s Loan Agreement no payments of interest for the use of the Borrower’s Loan are provided, Parties agree on the following terms for the Contractual Payments:
4.3.1. after the Partner has received the payment of the principal amount of the loan from the Borrower or any third party as per the Borrower’s Loan Agreement, ▇▇▇▇▇▇ calculates the total payment of the part of the Loan Amount and Interest as per the Loan Agreement related to the respective Borrower’s Loan Agreement subject to payment by the Partner to the Lender (the Total Payment) according to the formula provided under Clause 4.2.1 of the General Provisions;
4.3.2. immediately after the Lender has calculated the Total Payment, the Partner is obliged to repay the part of the Loan Amount comprising the Total Payment that is calculated according to following formula: where (i) PA shall mean the part of the Loan Amount comprising the Total Payment, (ii) TP shall mean the Total Payment, (iii) IR is the Interest rate and (iv) d is the number of days from the date of listing the Claim (as defined below) arising from the respective Partner’s Loan Agreement until the date of scheduled payment of Total Payment.
4.3.3. immediately after the Lender has calculated the Total Payment, the Partner is obliged to pay the Interest comprising the Total Payment that is calculated according to the following formula: where (i) IP shall mean the Interest comprising the Total Payment, (ii) TP shall mean the respective Total Payment and (iii) PA shall mean the part of the Loan Amount comprising the Total Payment.
4.4. The Partner may repay the Loan Amount or a part thereof prior to the deadline specified in the Partner’s Loan Agreement, or unilaterally terminate each Partner’s Loan Agreement and make the Contractual Payments arising from terminated Partner’s Loan Agreement in full amount prior to the deadline specified in the Partner’s Loan Agreement. The Partner by repaying the Loan Amount in full must also make all payments due to the Lender pursuant to the Partner’s Loan Agreement for the time period until the moment, when the Partner has fully settled all of its loan obligations pursuant to the respective Partner’s Loan Agreement.
4.5. If any taxes or dues come in force during the validity period of the Agreement, or the circumstances out of the Lender’s control take place obligating the Lender to make additional payments or reduce the payments related to the Agreement, the Lender shall inform the Partner regarding such changes in writing 30 (thirty) days in advance, by sending the information on changes to the Partner. The Lender is entitled to accordingly increase or reduce Contractual Payments, by informing the Partner on the changes pursuant to this paragraph and sending the respective Settlement Report to the Partner.
4.6. Parties have agreed that starting from the 7. (sevenths) month after the conclusion of this Agreement for the services provided by the Lender to the Partner the Service Fee will be charged by the Lender from the Partner. Service Fee is calculated separately for each Applicable Currency on monthly basis from the total amount of all Reserved Funds and Loan Amount in each Applicable Currency at the respective moment. Service Fee is calculated every calendar month and payment is due during the first Report date after the expiry of each calendar month. The Service Fee subject to the payment is calculated and provided in the Settlement Report for the Contractual Payments.
4.7. Every day until 17.00 p.m. (Riga time) the Partner shall provide the Lender (or transmit electronically through the system of the Lender) with the data in relations to the repayments of ▇▇▇▇▇▇▇▇’s Loans as per this Agreement. Based on the data provided or transmitted by the Partner in relations to the Borrower, the Lender shall prepare and send to the Partner Settlement Report for the Contractual Payments once a week, each Report date, which will include the payment to be done for repayment of the Loan Amount, repayments arising after the receipt of Partner’s application regarding unilateral termination of the Partner’s Loan Agreement, Interest as per the Agreement and all Partner’s Loan Agreements for the period since the previous Report date (or since the conclusion of this Agreement, in case of first Report date) and the Service FeeFee (if any). The Partner is obliged to pay amounts arising from the Settlement Report not later than within 5 (five) Business Days after its receipt.
4.8. The Parties agree that the Service Fee is fair and reasonable compensation for services provided by the Lender to the Partner and therefore each of the Parties waive any potential claims regarding the amount of the Service Fee and its payment terms.
4.9. Service Fee does not contain applicable Taxes (if any). All sums payable by the Partner under this Agreement shall be paid in full without set-off or counterclaim or any restriction or condition and free and clear of any Tax or other deductions or withholdings of any nature. If the Partner, Lender or any other person is required by any law or regulation to make any deduction or withholding on account of Tax or otherwise from, any payment, the Partner shall, together with such payment, pay such additional amount as will ensure that Lender receives free and clear of any such Tax or other deductions or withholdings the full amount which it would have received if no such Tax, deduction or withholding had been required.
4.10. The Partner shall make the Contractual Payments by transferring the funds to the Lender’s account specified in the Basic Provisions. The payment made by the Partner shall be considered as completed at the moment when it was received in the Lender’s account.
4.11. If the deadline of the Contractual Payment falls into weekend or a holiday, the payment shall be made on the next Business Day following the day when the Contractual Payment was due.
4.12. The Lender shall prepare the Settlement Report for the Contractual Payments in electronic format, and they are valid without a signature and seal. The Settlement Report shall be sent to the Partner upon the Lender’s choice either to the e-mail address specified in the Agreement or by mail to the legal address of the Partner specified in the Agreement.
Appears in 1 contract
CONTRACTUAL PAYMENTS. 4.1. The Partner shall repay each Loan Amount to the Lender and pay the Interest pursuant to the terms and conditions of this Agreement and each individual Partner’s Loan Agreement.
4.2. If according to the Borrower’s Loan Agreement serving as the source of repayment of the respective Loan Amount under the Partner’s Loan Agreement the payments of interest for the use of the Borrower’s Loan are provided, Parties agree on the following terms for the Contractual Payments:
4.2.1. After the Partner has received the payment of the principal amount of the loan from the Borrower or any third party as per the Borrower’s Loan Agreement, the Partner is obliged to repay the part of the Loan Amount as per the Loan Agreement related to the respective Borrower’s Loan Agreement that is calculated according to following formula: where (i) PA shall mean the part of the Loan Amount repayable by the Partner to the Lender, (ii) LA shall mean the Loan Amount at the repayment moment, (iii) RF shall mean the Reserved Funds at the repayment moment, (iv) OA shall mean the outstanding principal amount of the Borrower’s Loan at the repayment moment and (v) RA shall mean the payment of the principal amount of the loan received by the Partner from the Borrower or any third party as per the Borrower’s Loan Agreement.
4.34.2.2. After the Partner has received the interest payment from the Borrower or any third party as per the Borrower’s Loan Agreement, the Partner is obliged to pay the Interest that is accrued according to the Partner’s Loan Agreement related to the respective Borrower’s Loan Agreement. If the amount of interest payment received from the Borrower or any third party is lower than Interest accrued according to the Agreement, the Partner is obliged to pay the lower of the two amounts.
4.3. If according to the Borrower’s Loan Agreement serving as the source of repayment of the respective Loan Amount under the Partner’s Loan Agreement no payments of interest for the use of the Borrower’s Loan are provided, Parties agree on the following terms for the Contractual Payments:
4.3.1. after the Partner has received the payment of the principal amount of the loan from the Borrower or any third party as per the Borrower’s Loan Agreement, ▇▇▇▇▇▇ calculates the total payment of the part of the Loan Amount and Interest as per the Loan Agreement related to the respective Borrower’s Loan Agreement subject to payment by the Partner to the Lender (the Total Payment) according to the formula provided under Clause 4.2.1 of the General Provisions;
4.3.2. immediately after the Lender has calculated the Total Payment, the Partner is obliged to repay the part of the Loan Amount comprising the Total Payment that is calculated according to following formula: where (i) PA shall mean the part of the Loan Amount comprising the Total Payment, (ii) TP shall mean the Total Payment, (iii) IR is the Interest rate and (iv) d is the number of days from the date of listing the Claim (as defined below) arising from the respective Partner’s Loan Agreement until the date of scheduled payment of Total Payment.
4.3.3. immediately after the Lender has calculated the Total Payment, the Partner is obliged to pay the Interest comprising the Total Payment that is calculated according to the following formula: where (i) IP shall mean the Interest comprising the Total Payment, (ii) TP shall mean the respective Total Payment and (iii) PA shall mean the part of the Loan Amount comprising the Total Payment.
4.4. The Partner may repay the Loan Amount or a part thereof prior to the deadline specified in the Partner’s Loan Agreement, or unilaterally terminate each Partner’s Loan Agreement and make the Contractual Payments arising from terminated Partner’s Loan Agreement in full amount prior to the deadline specified in the Partner’s Loan Agreement. The Partner by repaying the Loan Amount in full must also make all payments due to the Lender pursuant to the Partner’s Loan Agreement for the time period until the moment, when the Partner has fully settled all of its loan obligations pursuant to the respective Partner’s Loan Agreement.
4.5. If any taxes or dues come in force during the validity period of the Agreement, or the circumstances out of the Lender’s control take place obligating the Lender to make additional payments or reduce the payments related to the Agreement, the Lender shall inform the Partner regarding such changes in writing 30 (thirty) days in advance, by sending the information on changes to the Partner. The Lender is entitled to accordingly increase or reduce Contractual Payments, by informing the Partner on the changes pursuant to this paragraph and sending the respective Settlement Report to the Partner.
4.6. The Partner shall pay the Connection Fee within 5 (five) Business Days as from the conclusion of this Agreement, based on the invoice of the Lender.
4.7. Parties have agreed that for the services provided by the Lender to the Partner the Service Fee will be charged by the Lender from the Partner. Service Fee is calculated separately for each Applicable Currency on monthly basis from the total amount of all Reserved Funds and Loan Amount in each Applicable Currency at the respective moment. Service Fee is calculated every calendar month and payment is due during the first Report date after the expiry of each calendar month. The Service Fee subject to the payment is calculated and provided in the Settlement Report for the Contractual Payments.
4.74.8. Every day until 17.00 p.m. (Riga time) the Partner shall provide the Lender (or transmit electronically through the system of the Lender) with the data in relations to the repayments of ▇▇▇▇▇▇▇▇’s Loans as per this Agreement. Based on the data provided or transmitted by the Partner in relations to the Borrower, the Lender shall prepare and send to the Partner Settlement Report for the Contractual Payments once a week, each Report date, which will include the payment to be done for repayment of the Loan Amount, repayments arising after the receipt of Partner’s application regarding unilateral termination of the Partner’s Loan Agreement, Interest as per the Agreement and all Partner’s Loan Agreements for the period since the previous Report date (or since the conclusion of this Agreement, in case of first Report date) and the Service Fee. The Partner is obliged to pay amounts arising from the Settlement Report not later than within 5 (five) Business Days after its receipt.
4.84.9. The Parties agree that the Connection Fee and the Service Fee is fair and reasonable compensation for services provided by the Lender to the Partner and therefore each of the Parties waive any potential claims regarding the amount of the Connection Fee, the Service Fee and its payment terms.
4.94.10. Connection Fee and Service Fee does not contain applicable Taxes (if any). All sums payable by the Partner under this Agreement shall be paid in full without set-off or counterclaim or any restriction or condition and free and clear of any Tax or other deductions or withholdings of any nature. If the Partner, Lender or any other person is required by any law or regulation to make any deduction or withholding on account of Tax or otherwise from, any payment, the Partner shall, together with such payment, pay such additional amount as will ensure that Lender receives free and clear of any such Tax or other deductions or withholdings the full amount which it would have received if no such Tax, deduction or withholding had been required.
4.104.11. The Partner shall make the Contractual Payments by transferring the funds to the Lender’s account specified in the Basic Provisions. The payment made by the Partner shall be considered as completed at the moment when it was received in the Lender’s account.
4.114.12. If the deadline of the Contractual Payment falls into weekend or a holiday, the payment shall be made on the next Business Day following the day when the Contractual Payment was due.
4.124.13. The Lender shall prepare the Settlement Report for the Contractual Payments in electronic format, and they are valid without a signature and seal. The Settlement Report shall be sent to the Partner upon the Lender’s choice either to the e-mail address specified in the Agreement or by mail to the legal address of the Partner specified in the Agreement.
Appears in 1 contract
CONTRACTUAL PAYMENTS. 4.1. The Partner shall repay each Loan Amount to the Lender and pay the Interest pursuant to the terms and conditions of this Agreement and each individual Partner’s Loan Agreement.
4.2. If according to the Borrower’s Loan Agreement serving as the source of repayment of the respective Loan Amount under the Partner’s Loan Agreement the payments of interest for the use of the Borrower’s Loan are provided, Parties agree on the following terms for the Contractual Payments:
4.2.1. After the Partner has received the payment of the principal amount of the loan from the Borrower or any third party as per the Borrower’s Loan Agreement, the Partner is obliged to repay the part of the Loan Amount as per the Loan Agreement related to the respective Borrower’s Loan Agreement that is calculated according to following formula: where (i) PA shall mean the part of the Loan Amount repayable by the Partner to the Lender, (ii) LA shall mean the Loan Amount at the repayment moment, (iii) RF shall mean the Reserved Funds at the repayment moment, (iv) OA shall mean the outstanding principal amount of the Borrower’s Loan at the repayment moment and (v) RA shall mean the payment of the principal amount of the loan received by the Partner from the Borrower or any third party as per the Borrower’s Loan Agreement.
4.34.2.2. After the Partner has received the interest payment from the Borrower or any third party as per the Borrower’s Loan Agreement, the Partner is obliged to pay the Interest that is accrued according to the Partner’s Loan Agreement related to the respective Borrower’s Loan Agreement. If the amount of interest payment received from the Borrower or any third party is lower than Interest accrued according to the Agreement, the Partner is obliged to pay the lower of the two amounts.
4.3. If according to the Borrower’s Loan Agreement serving as the source of repayment of the respective Loan Amount under the Partner’s Loan Agreement no payments of interest for the use of the Borrower’s Loan are provided, Parties agree on the following terms for the Contractual Payments:
4.3.1. after the Partner has received the payment of the principal amount of the loan from the Borrower or any third party as per the Borrower’s Loan Agreement, Lender calculates the total payment of the part of the Loan Amount and Interest as per the Partner’s Loan Agreement related to the respective Borrower’s Loan Agreement subject to payment by the Partner to the Lender (the Total Payment) according to the formula provided under Clause 4.2.1 of the General Provisions;
4.3.2. immediately after the Lender has calculated the Total Payment, the Partner is obliged to repay the part of the Loan Amount comprising the Total Payment that is calculated according to following formula: where (i) PA shall mean the part of the Loan Amount comprising the Total Payment, (ii) TP shall mean the Total Payment, (iii) IR is the Interest rate and (iv) d is the number of days from the date of listing the Claim (as defined below) arising from the respective Partner’s Loan Agreement until the date of scheduled payment of Total Payment.
4.3.3. immediately after the Lender has calculated the Total Payment, the Partner is obliged to pay the Interest comprising the Total Payment that is calculated according to the following formula: where (i) IP shall mean the Interest comprising the Total Payment, (ii) TP shall mean the respective Total Payment and (iii) PA shall mean the part of the Loan Amount comprising the Total Payment.
4.4. The Partner may repay the Loan Amount or a part thereof prior to the deadline specified in the Partner’s Loan Agreement, or unilaterally terminate each Partner’s Loan Agreement and make the Contractual Payments arising from terminated Partner’s Loan Agreement in full amount prior to the deadline specified in the Partner’s Loan Agreement. The Partner by repaying the Loan Amount in full must also make all payments due to the Lender pursuant to the Partner’s Loan Agreement for the time period until the moment, when the Partner has fully settled all of its loan obligations pursuant to the respective Partner’s Loan Agreement.
4.5. If any taxes or dues come in force during the validity period of the Agreement, or the circumstances out of the Lender’s control take place obligating the Lender to make additional payments or reduce the payments related to the Agreement, the Lender shall inform the Partner regarding such changes in writing 30 (thirty) days in advance, by sending the information on changes to the Partner. The Lender is entitled to accordingly increase or reduce Contractual Payments, by informing the Partner on the changes pursuant to this paragraph and sending the respective Settlement Report to the Partner.
4.6. Parties have agreed that for the services provided by the Lender to the Partner the Service Fee and the Performance Fee will be charged by the Lender from the Partner. Service Fee is calculated separately for each Applicable Currency on monthly basis from the total amount of all Reserved Funds and Loan Amount in each Applicable Currency at the respective moment. Performance Fee is calculated separately for each Applicable Currency. Service Fee is and Performance Fee are calculated every calendar month and payment is due during the first Report date after the expiry of each calendar month. The Service Fee and the Performance Fee subject to the payment is are calculated and provided in the Settlement Report for the Contractual Payments.
4.7. Every day until 17.00 p.m. (Riga time) the Partner shall provide the Lender (or transmit electronically through the system of the Lender) with the data in relations to the repayments of ▇▇▇▇▇▇▇▇Borrower’s Loans as per this Agreement. Based on the data provided or transmitted by the Partner in relations to the Borrower, the Lender shall prepare and send to the Partner Settlement Report for the Contractual Payments once a week, each Report date, which will include the payment to be done for repayment of the Loan Amount, repayments arising after the receipt of Partner’s application regarding unilateral termination of the Partner’s Loan Agreement, Interest as per the Agreement and all Partner’s Loan Agreements for the period since the previous Report date (or since the conclusion of this Agreement, in case of first Report date) ), the Service Fee and the Service Performance Fee. The Partner is obliged to pay amounts arising from the Settlement Report not later than within 5 (five) Business Days after its receipt.
4.8. The Parties agree that the Service Fee is and the Performance Fee are fair and reasonable compensation for services provided by the Lender to the Partner and therefore each of the Parties waive waives any potential claims regarding the amount of the Service Fee and the Performance Fee and its payment terms.
4.9. Service Fee does and Performance Fee do not contain applicable Taxes (if any). All sums payable by the Partner under this Agreement shall be paid in full without set-off or counterclaim or any restriction or condition and free and clear of any Tax or other deductions or withholdings of any nature. If the Partner, Lender or any other person is required by any law or regulation to make any deduction or withholding on account of Tax or otherwise from, any payment, the Partner shall, together with such payment, pay such additional amount as will ensure that Lender receives free and clear of any such Tax or other deductions or withholdings the full amount which it would have received if no such Tax, deduction or withholding had been required.
4.10. The Partner shall make the Contractual Payments by transferring the funds to the Lender’s account specified in the Basic Provisions. The payment made by the Partner shall be considered as completed at the moment when it was received in the Lender’s account.
4.11. If the deadline of the Contractual Payment falls into weekend or a holiday, the payment shall be made on the next Business Day following the day when the Contractual Payment was due.
4.12. The Lender shall prepare the Settlement Report for the Contractual Payments in electronic format, and they are valid without a signature and seal. The Settlement Report shall be sent to the Partner upon the Lender’s choice either to the e-mail address specified in the Agreement or by mail to the legal address of the Partner specified in the Agreement.
Appears in 1 contract