Common use of Definitions and Explanations Clause in Contracts

Definitions and Explanations. In this agreement, the words and expressions set out below have the following meaning: Interest means the charge paid by the borrower to the lender for using the loan amount; Interest rate means the amount of interest expressed as a percentage; Final date of use means the day on which the borrower must have repaid in full, in accordance with the payment schedule submitted to them, the credit amount drawn by them; User limit means the maximum amount that the borrower determines by agreement with the lender and within which the lender makes a loan available to the borrower; Customer account means the borrower’s personal account that is created via the lender’s website and through which the borrower can submit loan applications within the credit limit and user limit made available to them; Customer agreement means these and future general terms and conditions of the loan agreement as established by the lender; Account management fee means the fee for the management of the customer account. The borrower pays the account management fee on a monthly basis if the borrower has drawn down the credit amount or has outstanding interest or service fees; Total cost of credit means the credit limit, the interest payable until the final date of use and the account management fee. The total cost of credit does not include the fees arising from the breach of the obligations arising from the agreement and payable by the borrower to the lender. The total cost of credit is calculated as of the moment of entry into the agreement on the presumption that the borrower draws down the credit limit without delay and in full and repays it on the final date of use; Annual percentage rate is stated as a percentage of the credit limit and it expresses the burden of the costs arising from using the credit limit and placed on the borrower per year. The annual percentage rate set out in the agreement is calculated as of the moment of entry into the agreement or an amendment to the agreement and it is only in effect if the borrower performs their obligations arising from the agreement by the agreed deadlines and under the agreed terms and conditions. The annual percentage rate is calculated on the presumption that the borrower draws down the credit limit without delay and in full. The lender calculates the annual percentage rate using the formula approved by the Minister of Finance of the Republic of Estonia and rounds off the obtained result to the accuracy of two decimals; Credit limit or upper credit limit means the maximum amount within which the lender makes a loan available to the borrower; Credit amount means the balance of the loan principal made available to the borrower under the agreement; Loan agreement or agreement means this customer agreement, the borrower’s loan application that has been accepted by the lender and includes the terms and conditions of the agreement, and any amendments and annexes to the agreement; Lender means Monefit Estonia OÜ, registry code 12449415, address ▇▇▇▇▇▇ ▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇; Borrower means the loan applicant with whom the lender has entered into an agreement based on which the lender has granted the borrower a loan; Loan applicant means a citizen of the Republic of Estonia of at least 18 years of age or a natural person of at least 18 years of age who has a permanent residence permit and has submitted a loan application to the lender; Loan application means the loan applicant’s declaration of intention submitted on the basis of the customer agreement for the receipt of a loan. The loan application sets out the terms and conditions of the loan applied for by the loan applicant and the loan applicant or borrower submits it to the lender through the website or in writing and it forms, after having been accepted by the lender, an annex to and integral part of the agreement; Terms and conditions of the loan mean the terms and conditions that the lender has accepted in accordance with the loan application submitted by the borrower and pursuant to which the lender makes a loan available to the borrower, as well as the terms and conditions of this customer agreement; Loan repayment date (deadline) means the date arising from the payment schedule by which the borrower is required to make a monthly payment to be made on the basis of the agreement; Service fee means the account management fee and another fee specified or not specified in the customer agreement that the borrower is required to pay the lender for acts related to the agreement in the events set out in the agreement; Penalty means the contractual penalty that the borrower is required to pay the lender upon breach of their contractual obligations; Proprietary obligations mean the credit amount, interest, service fee, penalties and the borrower’s other financial obligations arising from the agreement; Website means the lender’s website on the Internet at the address ▇▇▇.▇▇▇▇▇▇▇.▇▇ that sets out technical stages of entry into the agreement and through which the borrower can perform acts related to the agreement; Default interest means a fine for delay that the borrower is required to pay the lender upon delay in the performance of a financial obligation arising from the agreement (except for the obligation to pay interest) and that is set out and calculated as a percentage rate of the outstanding financial obligation per day of delay.

Definitions and Explanations. In For the purposes of this agreementAgreement, the following words and expressions set out below shall have the following meaningmeanings: Interest means is the charge fee paid by the borrower to the lender for using the use of the loan amount; Interest The interest rate means is the amount of interest expressed as a percentage; Final The maturity date of use means is the day date on which the borrower Borrower must have repaid in full, full the amount of credit drawn down by it in accordance with the payment schedule submitted to them, the credit amount drawn by themit; User The usage limit means is the maximum amount that the borrower determines by sets in agreement with the lender and within which the lender makes allows the borrower to receive a loan available to the borrowerloan; Customer A customer account means the borrower’s is a personal account that is of the borrower created via the lender’s website and 's website, through which the borrower can submit loan applications within the credit limit and user usage limit made available provided to themhim / her; Customer The customer agreement means these and future is the general terms and conditions of the loan agreement as established by the lenderlender now and in the future; Account management fee means the is a fee for the management of the customer managing a client account. The borrower pays Borrower shall pay the account management fee on a monthly basis if the borrower Borrower has drawn down the a credit amount in use or has outstanding unpaid interest or service fees; Total The total cost of the credit means is the credit limit, the interest payable until by the final due date of use and the account management fee. The total cost of the credit does not include the fees arising from due to the borrower for the breach of the obligations arising from the agreement and payable by the borrower to the lenderagreement. The total cost of the credit is calculated as at the time of concluding the moment of entry into the agreement on the presumption agreement, provided that the borrower draws down on the credit limit without delay immediately and in full and repays it its use on the final date of usematurity date; Annual percentage The credit cost rate is stated expressed as a percentage of the credit limit and it expresses the annual burden on the borrower of the costs arising from using the credit limit and placed on the borrower per yearlimit. The annual percentage credit cost rate set out specified in the agreement is calculated as of the moment time of entry into concluding the agreement or an amendment to the agreement and it is valid only in effect if the borrower performs their fulfills its obligations arising from the agreement by the agreed deadlines and under on the agreed terms and conditions. The annual percentage credit cost rate is calculated on the presumption assumption that the borrower draws down on the credit limit without delay immediately and in full. The When calculating the credit cost rate, the lender calculates the annual percentage rate using proceeds from the formula approved by the Minister of Finance of the Republic of Estonia and rounds off the obtained result to two decimal places; The credit limit, ie the accuracy upper limit of two decimals; Credit limit or upper the credit limit means , is the maximum amount within which the lender makes allows the borrower to take a loan available to the borrowerloan; Credit The amount means of credit is the balance of the principal of the loan principal made available granted to the borrower under the agreement; Loan The loan agreement or agreement means is this customer agreement, the borrower’s 's loan application that has been accepted by the lender and includes lender, which contains the terms and conditions of the agreement, agreement and any amendments and annexes to the agreement; Lender means The lender is Monefit Estonia OÜ, registry code 12449415, address ▇▇▇▇▇▇ ▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇; Borrower means the The borrower is a loan applicant with whom the lender has entered into an agreement based and granted him a loan on which the lender has granted the borrower a loanbasis thereof; Loan A loan applicant means is a citizen of the Republic of Estonia residing in the Republic of Estonia who is at least 18 years of age or a natural person of at least 18 years of age who has holding a permanent residence permit and who has submitted a loan application to the lender; Loan A loan application means the is a statement of intent to obtain a loan applicant’s declaration of intention submitted on the basis of the a customer agreement for the receipt of a loan. The loan application agreement, which sets out the terms and conditions of the loan applied for by the loan applicant and the loan applicant or borrower submits it borrower, submitted to the lender through via the website or in writing and it forms, after having been accepted by the lender, an annex to and integral part of the agreement; Terms and conditions . The terms of the loan mean are the terms and conditions that accepted by the lender has accepted in accordance with according to the loan application submitted by the borrower and pursuant borrower, according to which the lender makes a loan available to provides the borrower, as well as borrower with the terms of the loan and conditions of this customer agreement; Loan repayment The loan payment date (deadlineterm) means is the date arising from the payment schedule by which the borrower is required to make a monthly payment to be made on the basis of due under the agreement; Service Extension of the loan term is the possibility for the borrower to postpone the loan repayment terms arising from the schedule, including the loan repayment deadline; The service fee means the is an account management fee and another fee specified other fees, whether or not specified in the customer agreement that client agreement, which the borrower is required obliged to pay to the lender in the cases specified in the agreement for acts operations related to the agreement in the events set out in the agreement; Penalty means the A penalty is a contractual penalty that the borrower is required obliged to pay to the lender upon in case of breach of their its contractual obligations; Proprietary obligations mean liabilities are the credit amountamount of credit, interest, service feefees, penalties and the borrower’s other financial obligations of the borrower arising from the agreement; Website means The website is the lender’s 's website on the Internet Internet, at the address ▇▇▇.▇▇▇▇▇▇▇.▇▇ that sets out ▇, where the technical stages of entry into concluding the agreement are indicated and through which the borrower can perform acts operations related to the agreement; Default Interest on arrears is interest means a fine for delay that on arrears which the borrower Borrower is required obliged to pay to the lender upon Lender in the event of delay in the performance of a financial obligation arising from the agreement (except for the obligation to pay interest) and that is set out and calculated other than an interest payment obligation), expressed as a percentage rate of the outstanding financial obligation per for each day of delay.;