Common use of Definitions and Explanations Clause in Contracts

Definitions and Explanations. For the purposes of this Agreement, the following words and expressions shall have the following meanings: Interest is the fee paid by the borrower to the lender for the use of the loan amount; The interest rate is the amount of interest expressed as a percentage; The maturity date is the date on which the Borrower must have repaid in full the amount of credit drawn down by it in accordance with the payment schedule submitted to it; The usage limit is the maximum amount that the borrower sets in agreement with the lender and within which the lender allows the borrower to receive a loan; A customer account is a personal account of the borrower created via the lender's website, through which the borrower can submit loan applications within the credit limit and usage limit provided to him / her; The customer agreement is the general terms and conditions of the loan agreement established by the lender now and in the future; Account management fee is a fee for managing a client account. The Borrower shall pay the account management fee on a monthly basis if the Borrower has a credit amount in use or has unpaid interest or service fees; The total cost of the credit is the credit limit, interest payable by the due date of use and account management fee. The total cost of the credit does not include the fees due to the borrower for the breach of the obligations arising from the agreement. The total cost of the credit is calculated at the time of concluding the agreement, provided that the borrower draws on the credit limit immediately and in full and repays its use on the maturity date; The credit cost rate is expressed as a percentage of the credit limit and expresses the annual burden on the borrower of using the credit limit. The credit cost rate specified in the agreement is calculated as of the time of concluding the agreement or amendment to the agreement and is valid only if the borrower fulfills its obligations arising from the agreement on the agreed terms and conditions. The credit cost rate is calculated on the assumption that the borrower draws on the credit limit immediately and in full. When calculating the credit cost rate, the lender proceeds from the formula approved by the Minister of Finance of the Republic of Estonia and rounds the result to two decimal places; The credit limit, ie the upper limit of the credit , is the maximum amount within which the lender allows the borrower to take a loan; The amount of credit is the balance of the principal of the loan granted to the borrower under the agreement; The loan agreement or agreement is this customer agreement, the borrower's loan application accepted by the lender, which contains the terms of the agreement and amendments and annexes to the agreement; The lender is Monefit Estonia OÜ, registry code 12449415, address ▇▇▇▇▇▇ ▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇; The borrower is a loan applicant with whom the lender has entered into an agreement and granted him a loan on the basis thereof; A loan applicant 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 holding a permanent residence permit who has submitted a loan application to the lender; A loan application is a statement of intent to obtain a loan submitted on the basis of a customer agreement, which sets out the terms and conditions of the loan applied for by the borrower, submitted to the lender via the website or in writing and accepted by the lender. The terms of the loan are the terms accepted by the lender according to the loan application submitted by the borrower, according to which the lender provides the borrower with the terms of the loan and this customer agreement; The loan payment date (term) is the date arising from the payment schedule by which the borrower is required to make a monthly payment due under the agreement; 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 is an account management fee and other fees, whether or not specified in the client agreement, which the borrower is obliged to pay to the lender in the cases specified in the agreement for operations related to the agreement; A penalty is a contractual penalty that the borrower is obliged to pay to the lender in case of breach of its contractual obligations; Proprietary liabilities are the amount of credit, interest, fees, penalties and other financial obligations of the borrower arising from the agreement; The website is the lender's website on the Internet, at the address ▇▇▇.▇▇▇▇▇▇▇.▇▇, where the technical stages of concluding the agreement are indicated and through which the borrower can perform operations related to the agreement; Interest on arrears is interest on arrears which the Borrower is obliged to pay to the Lender in the event of delay in the performance of a financial obligation (other than an interest payment obligation), expressed as a percentage of the outstanding financial obligation for each day of delay;

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