Common use of The Bank is entitled to Clause in Contracts

The Bank is entitled to. 11.24.1 In order to make a decision on credit issuance and/or for performance of the obligations assumed by the client towards the Bank (among them to return the credit), request and receive any kind of personal information stored with third person(s) or at administrative bodies about the client; 11.24.2 For the purpose of performing any assumed obligation, at any time after such obligation is originated, without further approval of the client, write-off the amount (non-accepted method) from any account of the client, including from the available balance of the overdraft and/or credit line. In the event the overdue payment is registered in a currency different from the currency existing in the account, the equivalent shall be determined by the commercial exchange rate established by the Bank at the moment of writing-off the amount by the Bank. 11.24.3 Transfer the payable service fee owed by the client to the National Agency of the Public Registry, Service Agency of the Ministry of Internal Affairs, insurance organization and/or other administrative bodies and/or other kinds of payables related to credit issuance, without the further consent of the client, in a non-accepted method to the account of the respective person from any account of the client; 11.24.4 For the purpose of paying the amount to the person from whom the client purchases an item with the credit issued by the Bank or receives a service, to deduct the relevant amount from any account of the client without the further consent of the client (non-accepted method), if necessary make a conversion, transfer the amount to the GEL account of the client and transfer to the account of the respective person; 11.24.5 Not issue and/or temporarily restrict issuance of credit, if the client and/or the owner of the collateral have legal restrictions, among them tax foreclosure/hypothecation and/or there is any kind of restriction registered to the property of the client and/or collateral (including intangible assets, account(s)). 11.24.6 In case client fails to repay the credit, accrued interest, penalty (if any) to the bank within the agreed term and/or any commission determined by the bank and/or client has any liability owed to the bank, for the purposes to ensure performance of respective liability/liabilities the bank shall: 11.24.6.1 Request to direct enforcement to any property of the client (any item owned by the client and intangible assets, including accounts) disregarding whether the client’s liability (Bank request) is secured or not with the property right (hypothecation/mortgage). Furthermore, the Bank is authorized, at its own discretion, to direct enforcement/payment firstly to that item or intangible asset of the client which does not represent the object of collateral for the client’s liabilities; 11.24.6.2 Request takeover of the mortgage and/or hypothecation object and after assigning the item directly, accept the hypothecation and/or mortgage object into ownership or use other enforcement regulation envisaged by the Civil Code. If, at the moment the Bank (as a mortgagor) receives the hypothecation and/or mortgage object into ownership or sells it, the value of hypothecation and/or mortgage property is less than the amount of secured request, or if the amount received as a result of selling the hypothecation and/or mortgage object is not sufficient to fully cover the secured request, the secured request shall be deemed as met only with the amount equaling to the hypothecation and/or mortgage item value or the amount received from the sale of hypothecation and/or mortgage object; 11.24.7 Terminate credit relations with the client and/or any, several or all additional agreements/covenants, and/or request the client to return the base amount of the credit along with the accrued interest rate and penalty (if any) in the event any of the below listed circumstances are present: 11.24.7.1 The client breaches any liability assumed under the present agreement, any agreement/covenant executed on the basis/under this agreement or under any document processed with the Bank, including if any condition precedent, supplementary term and/or request of the Bank to the client is not met (breached); 11.24.7.2 The client breaches the obligation to pay the amount according to the schedule enclosed with any additional agreement processed on the basis of/under this agreement; 11.24.7.3 The client undertakes the obligations without prior written approval of the Bank, by which they create a risk for the performance of obligations assumed under the present agreement and/or agreement/covenant processed on its basis; 11.24.7.4 The client improperly uses the credit product/received credit (if any); 11.24.7.5 The capital, assets of the client is significantly reduced or significant changes are made to the ownership of the client without prior written approval of the Bank; 11.24.7.6 The property and/or financial conditions of the client, their guarantor, any party to the agreement executed for securing any agreement/covenant on the basis of the present agreement and/or those of the guarantor significantly worsen or the threat of occurrence of such circumstance is present; 11.24.7.7 For securing the present agreement and/or any party to the agreement processed under the present agreement or its legal successor breaches any of the agreement terms; 11.24.7.8 Object(s) of collateral to the any agreement/covenant processed under the present agreement and/or on its basis is devastated, damaged and/or its value is diminished; 11.24.7.9 Enforcement proceedings start against the client: 11.24.7.10 Any of the client’s bank accounts or the client’s own property (any item or intangible asset) are seized or any measures for securing a claim, decision enforcement and/or tax liability enforcement are applied to the client or their property; 11.24.7.11 Any object mortgaged to secure the agreement/covenant processed under the present agreement and/or owned by the client and/or intangible assets are encumbered by any right, liability and/or restriction (among them tax foreclosure/hypothecation right, seizure etc.); 11.24.7.12 There is a threat of liquidation or declaring insolvent the client, their guarantor, any party and/or guarantor to any agreement executed for securing the agreement/covenant on the basis of the present agreement or any of the indicated persons make a decision on liquidation; 11.24.7.13 Any authorized body withdraws the assets or their significant part from the client, or makes nationalization of such assets or otherwise expropriates; 11.24.7.14 Any statement made by the client and/or any information provided to the Bank appears to be significantly inaccurate or misleading (incompatible with the reality); 11.24.7.15 Any such circumstance occurs which may jeopardize the performance of the obligation(s) assumed by the client, their guarantor and/or party to the agreement processed for securing the agreement/covenant executed on the basis of the present agreement or timely payment of the amount by the client;

The Bank is entitled to. 11.24.1 In order to make a decision on credit issuance and/or for performance of the obligations assumed by the client towards the Bank (among them to return the credit), request and receive any kind of personal information stored with third person(s) or at administrative bodies about the client; 11.24.2 For the purpose of performing any assumed obligation, at any time after such obligation is originated, without further approval of the client, write-off the amount (non-accepted method) from any account of the client, including from the available balance of the overdraft and/or credit line. In the event the overdue payment is registered in a currency different from the currency existing in the account, the equivalent shall be determined by the commercial exchange rate established by the Bank at the moment of writing-off the amount by the Bank. 11.24.3 Transfer the payable service fee owed by the client to the National Agency of the Public Registry, Service Agency of the Ministry of Internal Affairs, insurance organization and/or other administrative bodies and/or other kinds of payables related to credit issuance, without the further consent of the client, in a non-accepted method to the account of the respective person from any account of the client; 11.24.4 For the purpose of paying the amount to the person from whom the client purchases an item with the credit issued by the Bank or receives a service, to deduct the relevant amount from any account of the client without the further consent of the client (non-accepted method), if necessary make a conversion, transfer the amount to the GEL account of the client and transfer to the account of the respective person; 11.24.5 Not issue and/or temporarily restrict issuance of credit, if the client and/or the owner of the collateral have legal restrictions, among them tax foreclosure/hypothecation and/or there is any kind of restriction registered to the property of the client and/or collateral (including intangible assets, account(s)). 11.24.6 In case the event the client fails to repay the creditcredit received from the Bank in the agreed term, accrued interestinterest rate, penalty (if any) to the bank within the agreed term and/or any type of commission determined fee established by the bank and/or client has any liability owed to the bank, for the purposes to ensure performance of respective liability/liabilities the bank shallBank: 11.24.6.1 Request to direct enforcement to any property of the client (any item owned by the client and intangible assets, including accounts) disregarding whether the client’s liability (Bank request) is secured or not with the property right (hypothecation/mortgage). Furthermore, the Bank is authorized, at its own discretion, to direct enforcement/payment firstly to that item or intangible asset of the client which does not represent the object of collateral for the client’s liabilities; 11.24.6.2 Request takeover of the mortgage and/or hypothecation object and after assigning the item directly, accept the hypothecation and/or mortgage object into ownership or use other enforcement regulation envisaged by the Civil Code. If, at the moment the Bank (as a mortgagor) receives the hypothecation and/or mortgage object into ownership or sells it, the value of hypothecation and/or mortgage property is less than the amount of secured request, or if the amount received as a result of selling the hypothecation and/or mortgage object is not sufficient to fully cover the secured request, the secured request shall be deemed as met only with the amount equaling to the hypothecation and/or mortgage item value or the amount received from the sale of hypothecation and/or mortgage object; 11.24.7 Terminate credit relations with the client and/or any, several or all additional agreements/covenants, and/or request the client to return the base amount of the credit along with the accrued interest rate and penalty (if any) in the event any of the below listed circumstances are present: 11.24.7.1 The client breaches any liability assumed under the present agreement, any agreement/covenant executed on the basis/under this agreement or under any document processed with the Bank, including if any condition precedent, supplementary term and/or request of the Bank to the client is not met (breached); 11.24.7.2 The client breaches the obligation to pay the amount according to the schedule enclosed with any additional agreement processed on the basis of/under this agreement; 11.24.7.3 The client undertakes the obligations without prior written approval of the Bank, by which they create a risk for the performance of obligations assumed under the present agreement and/or agreement/covenant processed on its basis; 11.24.7.4 The client improperly uses the credit product/received credit (if any); 11.24.7.5 The capital, assets of the client is significantly reduced or significant changes are made to the ownership of the client without prior written approval of the Bank; 11.24.7.6 The property and/or financial conditions of the client, their guarantor, any party to the agreement executed for securing any agreement/covenant on the basis of the present agreement and/or those of the guarantor significantly worsen or the threat of occurrence of such circumstance is present; 11.24.7.7 For securing the present agreement and/or any party to the agreement processed under the present agreement or its legal successor breaches any of the agreement terms; 11.24.7.8 Object(s) of collateral to the any agreement/covenant processed under the present agreement and/or on its basis is devastated, damaged and/or its value is diminished; 11.24.7.9 Enforcement proceedings start against the client: 11.24.7.10 Any of the client’s bank accounts or the client’s own property (any item or intangible asset) are seized or any measures for securing a claim, decision enforcement and/or tax liability enforcement are applied to the client or their property; 11.24.7.11 Any object mortgaged to secure the agreement/covenant processed under the present agreement and/or owned by the client and/or intangible assets are encumbered by any right, liability and/or restriction (among them tax foreclosure/hypothecation right, seizure etc.); 11.24.7.12 There is a threat of liquidation or declaring insolvent the client, their guarantor, any party and/or guarantor to any agreement executed for securing the agreement/covenant on the basis of the present agreement or any of the indicated persons make a decision on liquidation; 11.24.7.13 Any authorized body withdraws the assets or their significant part from the client, or makes nationalization of such assets or otherwise expropriates; 11.24.7.14 Any statement made by the client and/or any information provided to the Bank appears to be significantly inaccurate or misleading (incompatible with the reality); 11.24.7.15 Any such circumstance occurs which may jeopardize the performance of the obligation(s) assumed by the client, their guarantor and/or party to the agreement processed for securing the agreement/covenant executed on the basis of the present agreement or timely payment of the amount by the client;