Common use of Payments and Interest Clause in Contracts

Payments and Interest. 4.1. Unless otherwise agreed in the Special Conditions, the Buyer shall make the Downpayment and pay the Seller or Factor the Contract Fee for the conclusion of the Agreement on the day of conclusion of the Agreement. 4.2. The Buyer is obliged to make Instalment Payments to the Factor in accordance with the Payment Schedule for the entire term of the Agreement. The Buyer shall have the right to demand from the Factor the presentation of the Payment Schedule free of charge at any time during the validity of the Agreement. 4.3. Among other things, the Buyer shall pay Interest to the Factor as a part of the Instalment Payment on each Payment Date, with the interest calculated on the outstanding Credit Amount, which is fixed at the beginning of each Interest calculation period, or on the Credit Amount (as agreed in the Special Conditions) and outstanding Agreement Fee (if the Agreement Fee for concluding the Agreement is not paid on the day of concluding the Agreement). The interest rate and how Interest is calculated is agreed in the Special Conditions. Until the first Payment Due Date for repayment of the Credit Amount, Interest shall be calculated based on the actual number of days per month and a 360-day year. Thereafter, Interest shall be calculated based on a 30-day month and a 360-day year. Interest shall be calculated and paid from the day of entry into the Agreement until (excluding) the last Payment Due Date for repayment of the Credit Amount under the Payment Schedule. 4.4. If the Buyer wishes to order from the Factor operations not specified in the Agreement (for example, introduction of amendments in the Agreement), the Buyer shall pay to the Factor the Contract Fee or another fee in accordance with the Factor’s price list, or, upon the agreement of the Buyer and the Factor, another service charge. 4.5. For payment of the contractual amounts, the Factor shall send the Buyer an invoice to the Buyer’s e-mail address specified in the Agreement, or, if the Buyer so desires, a hard copy of the invoice to the Buyer's address specified in the Agreement. If the Buyer wishes to receive from the Factor a hard-copy invoice for payment of the contractual amounts, the Buyer shall be obliged to pay to the Factor the corresponding fee (hard-copy invoice fee) for each delivery in accordance with the Factor’s price list. Failure to receive the invoice shall not affect the Buyer's obligation to make contractual payments to the Factor in accordance with the Payment Schedule. 4.6. If the Buyer fails to make the Instalment Payment or pay any other contractual amount by the Payment Due Date, the Factor shall have the right to demand from the Buyer a Fine for Delay, which is calculated on the outstanding debt amount in accordance with the stipulations of the Special Conditions, from the day following the Payment Due Date until appropriate fulfilment of the obligation. No Fine for Delay shall be calculated on the Interest and the Fine for Delay. 4.7. Should the amounts paid by the Buyer prove insufficient for the fulfilment of the Buyer’s obligations, the collection costs of the debt shall be deemed as paid in the first order, repayments of the Credit Amount in the second order, Interest due in the third order, and the Fine for Delay, contractual penalties and other fees and compensation of damage thereafter. 4.8. If the Buyer fails to pay the contractual amounts in a timely manner, the Factor shall have the right to demand from the Buyer compensation for the expenses incurred for the collection of the debt (i.e. the debt processing fee) in accordance with the rate(s) established in the Factor’s price list and/or the actual costs incurred by the Factor (the fees charged by the collection service provider and/or legal costs and/or bailiff’s fees). 4.9. Where the payment due date for an amount payable under the Agreement has not been fixed in the Payment Schedule and/or the Agreement, the amount must be paid by the payment due date established by the Factor in the invoice. 4.10. All contractual payments (except for the Contract Fee for the conclusion of the Agreement, if paid by the Buyer on the date of entry into the Agreement and the First Installment if both are paid to the Seller) shall be paid to the Factor’s account specified in the Special Conditions, and shall be considered as paid upon transfer of the corresponding amount to the aforementioned Factor’s account. The Factor shall inform the Buyer of any changes in the account information, as well as of other details required for the effecting of the payment. 4.11. In order to fulfil the payment obligations arising from the Agreement, the Buyer undertakes to conclude, for the benefit of the Factor, an e-invoice standing payment service agreement with regard to a Buyer’s current account opened in a credit institution operating in Estonia, authorising the corresponding credit institution to debit the Buyer’s account for the benefit of the Factor on the basis of the invoices presented by the Factor under the Agreement in accordance with the Payment Schedule or other contractual arrangements not reflected in the Payment Schedule, and to ensure the validity of the e-invoice standing payment service agreement during the validity of the Agreement. The Buyer is obliged to ensure availability of sufficient funds on the aforementioned account on the Payment Due Date for debiting of the contractual amounts. 4.12. The Seller and the Factor hereby warn the Buyer that any failure to pay the contractual amounts could have serious consequences for the Buyer (including the obligation to pay a Fine for Delay, premature termination of the Agreement, return of the Goods and the potential obligation to compensate for the Credit Amount, with deductions made under the Agreement). This in turn, may complicate the Buyer’s credit funding in the future.

Payments and Interest. 4.1. Unless otherwise agreed in the Special Conditions, the Buyer shall make the Downpayment and pay the Seller or Factor the Contract Fee for the conclusion of the Agreement on the day of conclusion of the Agreement. 4.2. The Buyer is obliged to make Instalment Payments to the Factor in accordance with the Payment Schedule for the entire term of the Agreement. The Buyer shall have the right to demand from the Factor the presentation of the Payment Schedule free of charge at any time during the validity of the Agreement. 4.3. Among other things, the Buyer shall pay Interest to the Factor as a part of the Instalment Payment on each Payment Due Date, with the interest . Interest shall be calculated on the outstanding Credit Amount, which is fixed at the beginning of each Interest calculation period, or on and in accordance with the Credit Amount (as agreed in the Special Conditions) and outstanding Agreement Fee (if the Agreement Fee for concluding the Agreement is not paid on the day of concluding the Agreement). The interest rate and how Interest is calculated is agreed in the Special Conditions. Until the first Payment Due Date for repayment of the Credit Amount, Interest shall be calculated based on the actual number of days per month and a 360-360- day year. Thereafter, Interest shall be calculated based on a 30-day month and a 360-day year. Interest shall be calculated and paid from the day of entry into the Agreement until (excluding) the last Payment Due Date for repayment of the Credit Amount under the Payment Schedule. 4.4. If the Buyer wishes to order from the Factor operations not specified in the Agreement (for example, introduction of amendments in the Agreement), the Buyer shall pay to the Factor the Contract Fee or another fee in accordance with the Factor’s price list, or, upon the agreement of the Buyer and the Factor, another service charge. 4.5. For payment of the contractual amounts, the Factor shall send the Buyer an invoice to the Buyer’s e-mail address specified in the Agreement, or, if the Buyer so desires, a hard copy of the invoice to the Buyer's address specified in the Agreement. If the Buyer wishes to receive from the Factor a hard-copy invoice for payment of the contractual amounts, the Buyer shall be obliged to pay to the Factor the corresponding fee (hard-copy invoice fee) for each delivery in accordance with the Factor’s price list. Failure to receive the invoice shall not affect the Buyer's obligation to make contractual payments to the Factor in accordance with the Payment Schedule. 4.6. If the Buyer fails to make the Instalment Payment or pay any other contractual amount by the Payment Due Date, the Factor shall have the right to demand from the Buyer a Fine for Delay, which is calculated on the outstanding debt amount in accordance with the stipulations of the Special Conditions, from the day following the Payment Due Date until appropriate fulfilment of the obligation. No Fine for Delay shall be calculated on the Interest and the Fine for Delay. 4.7. Should the amounts paid by the Buyer prove insufficient for the fulfilment of the Buyer’s obligations, the collection costs of the debt shall be deemed as paid in the first order, repayments of the Credit Amount in the second order, Interest due in the third order, and the Fine for Delay, contractual penalties and other fees and compensation of damage thereafter. 4.8. If the Buyer fails to pay the contractual amounts in a timely manner, the Factor shall have the right to demand from the Buyer compensation for the expenses incurred for the collection of the debt (i.e. the debt processing fee) in accordance with the rate(s) established in the Factor’s price list and/or the actual costs incurred by the Factor (the fees charged by the collection service provider and/or legal costs and/or bailiff’s fees). 4.9. Where the payment due date for an amount payable under the Agreement has not been fixed in the Payment Schedule and/or the Agreement, the amount must be paid by the payment due date established by the Factor in the invoice. 4.10. All contractual payments (except for the Contract Fee for the conclusion of the Agreement, if paid by the Buyer on the date of entry into the Agreement and the First Installment if both are paid to the SellerDownpayment) shall be paid to the Factor’s account specified in the Special Conditions, and shall be considered as paid upon transfer of the corresponding amount to the aforementioned Factor’s account. The Factor shall inform the Buyer of any changes in the account information, as well as of other details required for the effecting of the payment. 4.11. In order to fulfil the payment obligations arising from the Agreement, the Buyer undertakes to conclude, for the benefit of the Factor, an e-invoice standing payment service agreement with regard to a Buyer’s current account opened in a credit institution operating in Estonia, authorising the corresponding credit institution to debit the Buyer’s account for the benefit of the Factor on the basis of the invoices presented by the Factor under the Agreement in accordance with the Payment Schedule or other contractual arrangements not reflected in the Payment Schedule, and to ensure the validity of the e-invoice standing payment service agreement during the validity of the Agreement. The Buyer is obliged to ensure availability of sufficient funds on the aforementioned account on the Payment Due Date for debiting of the contractual amounts. 4.12. The Seller and the Factor hereby warn the Buyer that any failure to pay the contractual amounts could have serious consequences for the Buyer (including the obligation to pay a Fine for Delay, premature termination of the Agreement, return of the Goods and the potential obligation to compensate for the Credit Amount, with deductions made under the Agreement). This in turn, may complicate the Buyer’s credit funding in the future.

Payments and Interest. 4.1. Unless otherwise agreed in the Special Conditions, the Buyer shall make the Downpayment and pay the Seller or Factor the Contract Fee for the conclusion of the Agreement Contract on the day of conclusion of the AgreementContract. 4.2. The Buyer is obliged to make Instalment Payments Instalments to the Factor in accordance with the Payment Schedule for the entire term of the AgreementContract. The Buyer shall have the right to demand from the Factor the presentation of the Payment Schedule free of charge at any time during the validity of the AgreementContract. 4.3. Among other things, the Buyer shall pay Interest to the Factor as a part of the Instalment Payment on each Payment Date, with the interest calculated on the outstanding Credit Amount, which is fixed at the beginning of each Interest calculation period, or on the Credit Amount (as agreed in the Special Conditions) and outstanding Agreement Contract Fee (if the Agreement Contract Fee for concluding the Agreement Contract is not paid on the day of concluding the AgreementContract). The interest rate Interest Rate and how the manner of calculating the Interest is calculated is agreed are fixed in the Special Conditions. Until the first Payment Due Date for repayment of the Credit Amount, Interest shall be calculated based on the actual number of days per month and a 360-day year. Thereafter, Interest shall be calculated based on a 30-day month and a 360-360- day year. Interest shall be calculated and paid from the day of entry into the Agreement Contract until (excluding) the last Payment Due Date for repayment of the Credit Amount under the Payment Schedule. 4.4. If the Buyer wishes to order from the Factor operations not specified in the Agreement Contract (for example, introduction of amendments in the AgreementContract), the Buyer shall pay to the Factor the Contract Fee or another fee in accordance with the Factor’s price list, or, upon the agreement of the Buyer and the Factor, another service charge. 4.5. For payment of the contractual amounts, the Factor shall send the Buyer an invoice to the Buyer’s e-mail address specified in the AgreementContract, or, if the Buyer so desires, a hard copy of the invoice to the Buyer's address specified in the AgreementContract. If the Buyer wishes to receive from the Factor a hard-copy invoice for payment of the contractual amounts, the Buyer shall be obliged to pay to the Factor the corresponding fee (hard-copy invoice fee) for each delivery in accordance with the Factor’s price list. Failure to receive the invoice shall not affect the Buyer's obligation to make contractual payments to the Factor in accordance with the Payment Schedule. 4.6. If the Buyer fails to make the Instalment Payment or pay any other contractual amount by the Payment Due Date, the Factor shall have the right to demand from the Buyer a Fine for Delay, which is calculated on the outstanding debt amount in accordance with the stipulations of the Special Conditions, from the day following the Payment Due Date until appropriate fulfilment of the obligation. No Fine for Delay shall be calculated on the outstanding Interest and the Fine for Delay. 4.7. Should the amounts paid by the Buyer prove insufficient for the fulfilment of the Buyer’s obligations, the collection costs of the debt shall be deemed as paid in the first order, repayments of the Credit Amount in the second order, Interest due in the third order, and the Fine for Delay, contractual penalties and other fees and compensation of damage thereafter. 4.8. If the Buyer fails to pay the contractual amounts in a timely manner, the Factor shall have the right to demand from the Buyer compensation for the expenses incurred for the collection of the debt (i.e. the debt processing fee) in accordance with the rate(s) established in the Factor’s price list and/or the actual costs incurred by the Factor (the fees charged by the collection service provider and/or legal costs and/or bailiff’s fees). 4.9. Where the payment due date for an amount payable under the Agreement Contract has not been fixed in the Payment Schedule and/or the AgreementContract, the amount must be paid by the payment due date established by the Factor in the invoice. 4.10. All contractual payments (except for the Contract Fee for the conclusion of the AgreementContract, if paid by the Buyer pays it on the date of entry into day the Agreement Contract is concluded, and the First Installment if both are paid to the SellerDownpayment) shall be paid to the Factor’s account specified in the Special Conditions, and shall be considered as paid upon transfer of the corresponding amount to the aforementioned Factor’s account. The Factor shall inform the Buyer of any changes in the account information, as well as of other details required for the effecting of the payment. 4.11. In order to fulfil the payment obligations arising from the AgreementContract, the Buyer undertakes to conclude, for the benefit of the Factor, an e-invoice standing payment service agreement with regard to a Buyer’s current account opened in a credit institution operating in Estonia, authorising the corresponding credit institution to debit the Buyer’s account for the benefit of the Factor on the basis of the invoices presented by the Factor under the Agreement Contract in accordance with the Payment Schedule or other contractual arrangements not reflected in the Payment Schedule, and to ensure the validity of the e-invoice standing payment service agreement during the validity of the AgreementContract. The Buyer is obliged to ensure availability of sufficient funds on the aforementioned account on the Payment Due Date for debiting of the contractual amounts. 4.12. The Seller and the Factor hereby warn the Buyer that any failure to pay the contractual amounts could have serious consequences for the Buyer (including the obligation to pay a Fine for Delay, premature termination of the AgreementContract, return of the Goods and the potential obligation to compensate for the Credit Amount, with deductions made under the AgreementContract). This in turn, may complicate the Buyer’s credit funding in the future.

Payments and Interest. 4.1. 4.1 Under the Agreement, the Lessee obliges to make payments to the Lessor for the use, possession and acquisition of the Property under the terms and conditions and based on the rate stipulated in the Agreement. 4.2 Unless otherwise agreed in the Special Conditions, the Buyer Lessee shall make the Downpayment and pay the Seller or Factor Lessor the Contract Agreement Fee for the conclusion of the Agreement on the day of conclusion of entry into the Agreement. 4.2. 4.3 The Buyer Lessee is obliged to make Instalment Payments to the Factor Lessor in accordance with the Payment Schedule for the entire term of the Agreement. The Buyer shall have the right to demand from the Factor the presentation of the Payment Schedule free of charge at any time during the validity of the AgreementLease Period. 4.3. 4.4 Among other things, the Buyer Lessee shall pay Interest to the Factor Lessor as a part of the Instalment Payment on each Payment Due Date, with the interest . The Interest shall be calculated on the outstanding Credit Financed Amount, which is fixed at the beginning of each Interest calculation period, or on period and in accordance with the Credit Amount (as agreed in the Special Conditions) and outstanding Agreement Fee (if the Agreement Fee for concluding the Agreement is not paid on the day of concluding the Agreement). The interest rate and how applicable Interest is calculated is agreed in the Special Conditionsrate. Until the first Payment Due Date for repayment of the Credit Amountfirst Instalment Payment, Interest shall be calculated based on the actual number of days per month and a 360-day year. Thereafter, Interest shall be calculated based on a 30-day month and a 360-day year. Interest shall be calculated and paid from the day of entry into the Agreement until (excludingincluding) the last Payment Due Date for repayment of the Credit Amount Lease Payment under the Payment Schedule. The outstanding Financed Amount at the given moment in time shall be calculated by deducting from the Financed Amount the Downpayment and all Lease Payments made to the Lessor by the particular moment. 4.4. 4.5 Where the Lessee has ordered ancillary services (e.g. insurance, fuel card) upon agreement with the Lessor or via the Lessor, the Lessee shall be obliged to pay to the Lessor for the corresponding accessory expenses in accordance with the agreement and the Price List. 4.6 If the Buyer Lessee wishes to order from the Factor Lessor additional services or operations not specified in the Agreement (for example, introduction of amendments in the Agreement), the Buyer Lessee shall pay to the Factor Lessor the Contract Agreement Fee or another fee in accordance with the Factor’s price listPrice List, or, upon the agreement of the Buyer and the FactorParties, another service charge. 4.5. For payment of the contractual amounts, the Factor shall send the Buyer an invoice to the Buyer’s e-mail address specified in the Agreement, or, if the Buyer so desires, a hard copy of the invoice to the Buyer's address specified in the Agreement. 4.7 If the Buyer wishes to receive from the Factor a hard-copy invoice for payment of the contractual amounts, the Buyer shall be obliged to pay to the Factor the corresponding fee (hard-copy invoice fee) for each delivery in accordance with the Factor’s price list. Failure to receive the invoice shall not affect the Buyer's obligation to make contractual payments to the Factor in accordance with the Payment Schedule. 4.6. If the Buyer Lessee fails to make the Instalment Payment or pay any other contractual amount by the Payment Due Date, the Factor Lessor shall have the right to demand from the Buyer Lessee a Fine for Delay, which is calculated on the outstanding debt amount based on the rates stipulated in accordance with the stipulations of the Special Conditions, from the day following the Payment Due Date until appropriate fulfilment of the obligation. No Fine for Delay shall be calculated on the Interest and the Fine for Delay. 4.7. 4.8 Should the amounts paid by the Buyer Lessee prove insufficient for the fulfilment of the BuyerLessee’s obligations, the collection costs of Lessor shall have the debt shall be deemed right to deem the costs, damages and contractual penalties as paid in the first order, repayments of Interest that has fallen due and interest calculated on the Credit Amount insurance premiums for the Property (provided that the insurance contract(s) is/are concluded via the Lessor) in the second order, Interest due in and Lease Payments and insurance payments (provided that the third order, and insurance contract(s) is/are concluded via the Fine for Delay, contractual penalties and other fees and compensation of damage Lessor) thereafter. 4.8. 4.9 If the Buyer Lessee fails to pay the contractual amounts in a timely manner, the Factor Lessor shall have the right to demand from the Buyer Lessee compensation for the expenses incurred for in connection with the collection of the debt (i.e. the debt processing fee) in accordance with the rate(s) established in the Factor’s price list Price List and/or the actual costs incurred by the Factor (Lessor. If the fees charged by Lessee delays fulfilment of the collection service provider and/or legal costs and/or bailiff’s fees)payment obligation, the Lessor shall have the right to send to the Lessee a letter of claim of payment of the debt, with the Lessee being obliged to pay to the Lessor the fee specified in the Price List for the processing and delivery of each letter of claim. 4.9. 4.10 Where the payment due date for an amount payable under the Agreement has not been fixed in the Payment Schedule and/or the Agreement, the amount must shall be paid by within seven (7) calendar days after the payment due date established by the Factor in the invoiceobligation falls due. 4.10. 4.11 All contractual payments (except for the Contract Fee for the conclusion of the Agreement, if paid by the Buyer on the date of entry into the Agreement and the First Installment if both are paid shall be transferred to the Seller) shall be paid to the FactorLessor’s current account specified in the Special ConditionsAgreement, and shall be considered deemed as paid upon transfer of the corresponding amount amounts to the aforementioned FactorLessor’s account. The Factor Lessor shall inform the Buyer Lessee of any changes in the account information, as well as of other details required for the effecting of the payment. 4.114.12 By signing the Agreement, the Lessee shall grant the Lessor an irrevocable payment order so that the Lessor could, on the Payment Due Date or another date on which a contractual payment is due, debit the payable amount, without the Lessee’s separate consent or order, from the Lessee’s accounts opened with the Lessor in the amount required for complete payment of the amounts payable under the Agreement. In The payment order to fulfil specified in this clause shall remain valid until appropriate and complete fulfilment of all of the payment Lessee’s obligations arising from the Agreement, the Buyer undertakes to conclude, . The payment order for the benefit debiting of the FactorLessee’s account, an e-invoice standing payment service agreement with regard given to a Buyerthe Lessor under this clause, shall not exempt the Lessee from the obligation to transfer all contractual payments to the Lessor’s current account opened in a credit institution operating in Estonia, authorising by the Payment Due Date. The Lessee shall maintain liability for breach of the corresponding credit institution to debit the Buyer’s account for the benefit of the Factor on the basis of the invoices presented by the Factor under the Agreement obligation in accordance with the Payment Schedule or other contractual arrangements not reflected law and this Agreement. 4.13 Should the funds available on the Lessee’s account(s) opened with the Lessor in the Payment ScheduleAgreement Currency prove insufficient for the appropriate fulfilment of the Lessee’s obligations, and the Lessee’s account(s) opened with the Lessor contain funds in other currencies (including securities), the Lessor shall have the right to ensure convert the validity financial resources denominated in other currencies on the Lessee’s accounts under the daily exchange rate for the particular currency and, thereafter, to debit the Lessee's accounts and transfer the securities held on the accounts for complete payment of the e-invoice standing payment service agreement during the validity of the Agreement. The Buyer is obliged to ensure availability of sufficient funds on the aforementioned account on the Payment Due Date for debiting of the contractual amounts. 4.12. The Seller and the Factor hereby warn the Buyer that any failure to pay the contractual amounts could have serious consequences for the Buyer (including the obligation to pay a Fine for Delay, premature termination of the Agreement, return of the Goods and the potential obligation to compensate for the Credit Amount, with deductions made payable under the Agreement). This in turn, may complicate the Buyer’s credit funding in the future.