RULES FOR THE USE OF THE PLATFORM

AGREEMENT ON THE USE OF THE PLATFORM AT WWW.NORDSTREET.COM/.LT//EU

The present agreement on the use of the platform located at www.nordstreet.com/.lt/.eu (hereinafter – the Agreement) has been concluded between:

Nordstreet UAB, legal entity code 304565690, head office address Vilniaus g. 35, Vilnius, Lithuania (hereinafter – the Operator) and
the User, who concluded the present Agreement electronically, confirmed his/her acceptance of its terms and conditions and is permitted to use the Platform (hereinafter – the User).

By using the information available on the Platform at www.nordstreet.com/.lt/.eu and/or it services and visiting the Platform, the User hereby declares and confirms that he/she has thoroughly familiarised with the present Agreement, read and understood the content of each provision and consequences thereof, and signed it as a legally binding document without coercion, persuasion or exertion of other influence.

The User hereby additionally confirms that this Agreement fully corresponds to his/her true intentions and will, the Agreement has been concluded without the influence of alcohol, narcotic, psychotropic or other psychoactive substances, he/she was able to consult the independent legal and financial advisers regarding the evaluation of this Agreement.

If the User does not accept the present Agreement, he/she may not use the Platform and the Operator’s services.

The present Agreement regulates the terms and conditions for the use of the Platform, legal relationship between the User and the Operator, as well as between the Users.

The Platform in its entirety and the intellectual rights to its content shall belong to the Operator. The User shall not have the right to save, copy, modify, relocate, transfer or disclose the content of the Platform and the Platform’s website.

On the Platform, the Operator assists the Users to borrow funds and conclude electronic agreements. The Platform is used as an intermediary medium between the entities wishing to borrow and entities willing to lend. The returns on the loan interest are historical data and may change independent of the Operator’s will, and do not guarantee future revenue.

The Operator does not grant the Users any guarantee that the Loans will be repaid according to their terms and conditions. The Operator seeks to reasonably evaluate credit risk and improve the Risk Model applicable for selection of Applications, however, it does not assume liability for the loss incurred by the User if the Loan Amount and other amounts have not been repaid. The Users shall assume the credit risk at own free will by investing into the Loans.

Information and data on the User indicated in the Application and the Auction are provided by the Users, therefore, the Operator shall not be held responsible for correctness and validity of this information and the Users, and shall not bear any losses, which occurred or may occur due to the actions, decisions or transactions of the User carried out by using the information provided in the present Platform.

1. Concepts and definitions

The capitalised terms used in the present Agreement shall have the meaning as provided below unless a different meaning is determined by the context:

1.1. The Auction shall mean a manner of conclusion of the Loan Agreement between the Users, where the Loan Agreement is concluded between the Borrower, who submitted the Application (confirmed by the Operator) and initiated a specific auction, and the Investor(-s), who provided the fastest Offer(-s) according to the terms and conditions of the Auction.

1.2. The General terms and conditions shall mean the general terms and conditions of the present Loan Agreement including any supplementations or modifications thereto.

1.3. The Investor shall mean a natural entity above the age of 18 years or a legal entity duly registered on the Platform, who submitted the Offer via the Platform.

1.4. The User shall mean a natural or legal person who is a member of the Platform, and who acts either as the Investor or the Borrower and has concluded the present Agreement by completing registration on the Platform according to the applicable conditions of the Agreement and has been correspondingly confirmed by the Operator.

1.5. The User Code shall mean a unique number attributed by the Operator to each registered Platform users, which is allocated for User identification.

1.6. The User Account shall mean an individual account of the User protected with a unique password and assigned to the User for performance of various actions on the Platform, i.e. to submit Applications and Offers, borrow money, conclude the Loan Agreement, view the history of actions performed by the User, receive the Operator’s messages and manage own account in other ways.

1.7. Operator – Nordstreet UAB, legal entity code 304565690, head office address Vilniaus g. 35, Vilnius, Lithuania.

1.8. The Operator’s fee shall mean a one-off fee charged upon the agreement between the Operator and the Borrower, which the latter shall pay to the Operator for the Loan administration services under the present Agreement and the Loan Agreement until the obligations under the Loan Agreement have been discharged in full. The amount of the fee shall be determined for each Borrower individually, depending on the credit risk, amount of the Loan, the Loan repayment term and other material circumstances.

1.9. The Interest shall mean the annual interest rate on the Loan amount the Borrower shall be obliged to pay to the Investor, which has been indicated in the Application prior to the Auction.

1.10. The Application shall mean a binding public offer of the Borrower to conclude the Loan Agreement submitted via the Platform, drawn up according to the form filled out by the Borrower on the Platform and substantiated by the written documents and personal data of the Borrower, which has been electronically confirmed by the Borrower and the Operator.

1.11. The Application administration fee shall mean the User’s paid administration fee to the Operator for examination of the Application, which after submission of the Application shall not be refunded.

1.12. The Offer shall mean the binding consent (acceptance) in respect to the Loan provided via the Platform granted by the User intending to borrow money to the User who submitted the Application, by which the User accepts and confirms the conditions indicated in the Application and intends to conclude the Loan Agreement according to the Application confirmed by the Borrower.

1.13. The Service rates shall mean the fees payable by the Borrower as defined on the Platform, including the Operator’s fees.

1.14. The Loan or Loan Agreement shall mean an agreement between the Borrower and the Lender(s) concluded via the Platform, on the basis of which: The Lender(s) shall grant a loan to the Borrower according to the terms and conditions of the agreement, and the Borrower shall be obliged to repay the loan received and pay any related fees (Interest, etc.). The Users are aware that any modifications and annexes to the Loan Agreement made by a mutual agreement between the Users shall be an integral part of the Loan and legally binding to the Parties. The Loan Agreement shall be signed between the Operator (on behalf of and for the benefit of the Lenders) and the separate agreement signed by the Borrower concerning special conditions of the Loan Agreement as well as the Application (the Offer) submitted by the Borrower and approved by the Operator on the basis of this agreement and the Offer (the acceptance) of the Lender as well as the General Terms together with all amendments and supplements the parties to which are the Lender and the Borrower specified in the Special Conditions.

1.15. The Borrower shall mean a profit-making legal person who has properly signed and submitted the Application via the Platform whose Application has been approved by the Operator.

1.16. The Loan Amount shall mean a sum of money borrowed by the Investor(-s) to the Borrower via the Platform, which conforms to the amount stated in the completed Borrower’s Application, and which the Borrower shall be obliged to repay to the Investor(-s), including payment of the Interest and other fees.

1.17. The Paysera account shall mean the unique User’s (correspondingly the Investor’s or the Borrower’s) account opened in the system at the address www.mokejimai.lt/www.paysera.lt administered by Paysera LT UAB, legal entity code 300060819, head office address Mėnulio g. 7, Vilnius, Lithuania, opening of which involves identification of a specific individual. This account shall be used by the Platform to transfer the Loan Amount and to credit and debit any charges. Paysera LT UAB is an electronic money institution under the supervision of the Bank of Lithuania that is responsible for proper functioning of the account.

1.18. The Platform shall mean the system supervised and managed by the Operator available at www.nordstreet.com/.lt/.eu, where the Borrowers and Investors, who have duly completed the Applications and received the confirmation from the Operator, can borrow or lend money by participating in the Auction, this way creating the Loan relationship. The Operator shall perform its activities in the role of the Platform administrator.

1.19. The Rights of recourse shall mean the Investor’s rights of recourse to the Borrower under the Loan Agreement, the amount of which is stated in the Offer (Special Part), including all related or derived rights.

1.20. The Risk Model shall mean a credit risk assessment model used and developed by the Operator, statistical data, algorithms for data analysis and other tools, by means of which the Operator seeks to reasonably assess the credit risk, and on the basis of which the Operator selects the Application and submits them for the Auction.

1.21. The Debt administration fee shall mean the fee paid by the Investor to the Operator for administration and recovery of the Borrower’s debts originated or associated with the Loan (the Loan Amount, Interests, fines, etc.).

1.22. The Special Conditions shall mean a separate agreement between the Operator (on behalf of and for the benefit of the Lenders) concerning special conditions of the Loan Agreement as well as the Application (the Offer) submitted by the Lender and approved by the Operator on the basis of this agreement and the Offer (the Acceptance) of the Lender.

1.23. The Agreement shall mean the agreement for the use of www.nordstreet.com/.lt/.eu platform, which states the conditions for use of the Platform, which must be accepted by any person intending to use the Platform at https://nordstreet.com/.lt/.eu, and the Operator’s services. The purpose of the Agreement is to establish the rules for use of the Platform and the legal relationships arising within the Platform and between the Operator and the Users.

2. Obligations of the User

2.1. The User shall be obliged:

2.1.1. not abstain from illegal activities on the Platform (including money laundering, legalisation of unlawfully obtained funds, etc.) and to communicate with the Operator and other Users according to the generally accepted moral and ethical principles;

2.1.2. to provide only valid and correct information to the Operator and other Users;

2.1.3. to protect the secrecy of the Platform login data to the Platform and not to disclose them to the third persons. The User shall be responsible for any damages and losses, which incurred due to disclosure of the Platform login data to the third persons, which resulted in the creation of legal relations. The User hereby confirms that all agreements concluded via the User’s account shall be made upon a true will of the User and will be binding to the User under any circumstances (including the cases where the third parties who gained access to the data have entered into agreements on behalf of the User – borrowed and/or loaned money, and where the third parties, to whom the User has willingly disclosed the login data to the third persons, failed to treat these data with due care, etc.);

2.1.4. to continuously update personal data (account number, name, surname, contact data);

2.1.5. to change the login information of the User account in the event of threat that these data have possibly been disclosed to the third persons;

2.1.6. not to gather contact information, e-mail addresses or other data on the Users, except to the extent related to the Loan Agreement;

2.1.7. not to advertise and promote other enterprises, products or services on the Platform without the prior written consent of the Operator;

2.1.8. not to transfer or upload any data, which might contain software viruses or other codes, files or programmes created to interfere with, restrict or damage the operating functions of the Platform or its hardware, software or communication equipment;

2.1.9. not to upload another website (-s) to the Platform without the prior written consent of the Operator.

2.2. The Operator shall have the right to restrict the User’s right to use the Platform, including expulsion of the User from the Platform, and to take other measures the Operator deems necessary, including suspension or non-performance of the Operator’s own rights and duties, if such actions or omission on behalf of the Operator is necessary in order to ensure unconditional functional operation of the Platform and/or rights and duties of other Users.

2.3. In all cases, the Operator shall have the right to suspend the User’s registration in the Platform and/or remove the User from the Platform, if:

2.3.1. the User fails to fulfil its duties and/or obligations, provided or provides incorrect, misleading, fraudulent and/or incomplete information;

2.3.2. the User’s conduct in relation to other Users is in prejudice to the generally accepted moral and ethical principles;

2.3.3. there are reasonable grounds to suspect that the User’s activities are carried out in prejudice to the requirements of the legal acts.

2.4. In all cases, where the Operator has reasons to believe that the User presented incorrect personal details and/or illegally uses the personal data that do not belong to the Users, the Operator shall have the right to report this situation to the relevant law enforcement authorities.

3. Use of the Platform and investments

3.1. Any person wishing to use the services of the Platform must complete registration. The registration is free of charge. Upon completion of registration, the person becomes the User of the Platform and gains the right to invest and borrow freely and to submit Offers and Applications.

3.2. During primary registration, the User shall create the unique username and password for access to the User’s account.

3.3. The services provided by the Platform shall be accessible only to the registered Users who confirmed their acceptance of the present Agreement.

3.4. Each time the User wishes to perform any actions on the Platform, he/she shall be required to log in by entering the unique username and password.

3.5. Upon the User’s electronic confirmation of his/her acceptance of the Agreement, it shall be considered concluded. The Parties hereby agree that the User’s actions made during registration on the Platform and acceptance of the present Agreement, the Special Terms and Conditions (Offer and Application), the General Terms and Conditions, and the personal data provided during registration on the Platform (which shall be confirmed by the User by checking the box or clicking on the ‘Agree’ button, the User’s code, details of SMS messages, statement from the User’s Paysera account, e-mail of the User or the Platform, or voice records of a telephone conversations, or the Platform statement of the User’s activities on the User’s account on the Platform) shall be considered as the User’s signature bearing legal power granted by laws of the Republic of Lithuania, and the Application and the Offer, on the basis thereof the Loan Agreement has been concluded, under which the Loan Amount is transferred to the Borrowers, shall be considered equivalent to the document concluded in writing, and it shall create the same legal consequences as a document endorsed on each page by the signatures of the User.

3.6. Upon completion of the User’s registration on the Platform, the Operator shall send all notifications addressed to the User to the e-mail address indicated by the User. The User hereby confirms that he/she agrees that the notification shall be considered to have been duly delivered in 24 hours of its dispatch. The User shall be obliged to regularly check his/her e-mail box with the address provided to the Operator and assume all risks related to situations where without the fault of the Operator, the messages sent by the Operator are not delivered to the User’s e-mail box with the specified address and the User does not receive and/or read them for any other reasons.

4. User’s identification

4.1. The User intending to become the Borrower and/or Investor must, first of all, be identified.

4.2. In order to execute due identification of the User, the User shall be obliged to create the User’s Paysera account or link the existing User’s Paysera account with the Platform.

4.3. The User’s Paysera account shall be created by the User by clicking the respective links provided on the Platform. Later, the User may choose whether to create a new User’s account or to confirm his/her identity by means of the existing User’s Paysera account.

4.4. During registration on the Platform, the User shall confirm that he/she grants authorisation to the Operator to manage the funds available on the User’s Paysera account within a certain limit for the purposes of transfer of monetary funds on behalf of the Investors to the Borrower and to credit funds from the Borrower for the benefit of the Investor and the Operator.

4.5. Upon confirmation of his/her identity, the User shall have the right to acts as the Borrower and/or Investor and/or perform all other manipulations on the Platform.

5. Loan Amount, interest, repayment term and application

5.1. The Loan Agreement shall be created on the Platform during the Auction: when the User submits the Application (Quote), which has been confirmed by the Operator, and during the Auction the Investor presents the Offer (Acceptance), upon a match between the essential conditions of the Application and the Offer (Special Terms and Conditions) and acceptance of the User of the General Terms and Conditions, the Loan Agreement is consequently created. The essential conditions of the Loan Agreement shall be the Loan Amount, Interest and Loan repayment term.

5.2. The User wishing to submit the Application shall be obliged to specify the Loan Amount, Interest and Loan repayment term.

5.3. In the event the User intends to submit the Application, it shall transfer to the Operator’s payment account the payment of EUR 250 (two hundred and fifty euros) as the Application administration fee, which after submission of the Application shall not be refunded.

5.4. The requirements applicable to the Loan Amount:

5.4.1. The amounts of Loan shall be provided and received via the Platform in euro.

5.4.2. The Operator shall have the right to recommend that the User reduces the Loan Amount. If the User does not reduce the indicated Loan Amount, the Operator shall have the right not to confirm the Application and prevent opening of the Auction.

5.5. The requirements applicable to the interest rates:

5.5.1. The User initiating the Auction shall set the Interest rates of the Loan Agreement;

5.5.2. The Operator shall have the right to recommend that the User reduces or increases the Interest rates. If the User does not reduce or increase the indicated Interest rates, the Operator shall have the right not to confirm the Application and prevent opening of the Auction.

5.5.3. The Investors who provide their Offers during the Auction shall lend at the Interest rates specified by the Borrower;

5.5.4. If the Borrower delays payment of interest, the Operator shall be allowed to apply the increased interest according to the rates indicated on the Platform or Special Terms and Conditions.

5.6. The User shall have the right to indicate the desired Loan repayment terms, which may not be shorter and/or longer than the shortest and longest Loan repayment terms approved by the Operator during completion of the Application.

5.7. A unique document shall be generated for the User, which, according to the Loan Amount, Interest and Loan repayment term indicated by the User, shall reflect the preliminary Loan repayment schedule, all fees payable by the User and other important information.

5.8. The User who wishes to form the Application on the basis of this preliminary information shall be obliged to fill out the form available on the Platform and provide the following:

5.8.1. the financial reporting documents endorsed by signatures of the User’s head and accountant, upon the discretion of the Operator, presenting data for the last financial year, last 12 months or another period;

5.8.2. the bank account statements for the past 12 months or for another period approved by the Operator;

5.8.3. the acceptance of the General Terms and Conditions expressed in an established procedure;

5.8.4. the acceptance regarding management of personal data of the User, its managers, and members and participants of other bodies expressed in an established procedure;

5.8.5. the User’s contact information (name and surname or corporate name, address, contact details, etc.);

5.8.6. data regarding the immovable property intended to be pledged;

5.8.7. the User’s Mano Creditinfo report from the website located at https://www.manocreditinfo.lt/.

5.9. The User who wishes to form the Application on the basis of this preliminary information, upon a separate request of the Operator, shall be obliged to fill out the form available on the Platform and indicate the following:

5.9.1. data on the available property;

5.9.2. data on the User’s shareholder and number of shares held by them, and the final beneficiaries;

5.9.3. data on the mortgage on the immovable property;

5.9.4. other data requested by the Operator.

5.10. Upon completion of the form, the User will receive the Application automatically generated by the Platform, which the User shall be obliged to confirm electronically. The Application shall be considered to be a binding offer to all Users, whereas, upon its electronic confirmation by the Borrower and the Operator’s approval, the Auction shall be considered to be opened.

5.11. Upon receipt of the confirmed Application, the Operator shall evaluate, and shall have the right:

5.11.1. to approve the Application and transfer it to the Auction section;

5.11.2. in cases where the information provided is inaccurate and/or where the Operator wishes to receive additional information from the Borrower, the Operator shall have the right to contact the Borrower using the contact details and obtain the missing information by telephone.

5.11.3. in cases where the Borrower provides fraudulent, incorrect and/or incomplete information in the Application, according to the data provided the Borrower does not conform to the Project Owners’ reputation and creditworthiness criteria approved by the Operator and/or on any other cases, the Operator shall have the right to refuse to approve the Application upon own discretion and not to publish it in the Auction section.

5.11.4. in cases where according to the information provided by the Borrower the Operator decided that the Loan Amount and/or Interest and/or Loan repayment terms must be adjusted, a new Application shall be generated, whereas the User shall be informed by a separate notification regarding this situation. The User shall have the right not to confirm the new Application. In this case, the Operator shall be entitled not to approve the previous Application and not to publish it in the Auction section.

5.12. When the Application has been approved by the Operator, it shall be transferred to the Auction section for a period specified in the Application, which, however, shall not exceed 30 (thirty) calendar days.

5.13. If the Investors present the Offers conforming to the Application within before expiration of a 30 (thirty) calendar days period or a shorter period specified in the Application, the Auction shall be considered to be completed and closed. In cases approved by the Operator, the User shall be allowed to establish the duration of the Auction, which may not be longer than 30 (thirty) calendar days.

5.14. If the Application has not been completed at a 100 percent within 30 (thirty) calendar days or a shorter period specified in the Application, the Auction shall be considered uninitiated and no legal relationships shall be created in relation to the Loan Amount, Borrower, Investor and/or Operator, unless it is clearly indicated in advance that the Auction will be divided and executed in several stages until the total Loan Amount is collected.

5.15. The Operator shall not be held liable in cases where the Auction has not been initiated.

5.16. After the Application has been published in the Auction section, the Operator shall have the right to disclose Borrower’s information – head office address, business address, area of operation, financial statements, number of employees, data on the Guarantee of Performance Obligations, and other information which is reasonably necessary to the Investors for the evaluation of the Application according to its conditions and present their Offers.

5.17. The Investors shall have an additional possibility to ask questions to the Borrower, which together with the answers shall be visible to all the Users. During the Auction, the Borrower also may disclose on the Platform the registration number and name.

5.18. During the Auction, every User shall have a possibility to view in real time the Offers provided.

5.19. During the Auction, the Investors may provide the Offers by setting the amount of the Loan offered, however, they may not offer that Interest rates that are lower and/or higher than those set by the Borrower. The principal of the Loan offered by the Investor shall not be lower than EUR 100, while the total amount shall yield a whole number if divided by 20. The principal of the Loan offered by the Investor shall not exceed the Loan Amount established by the Borrower in a specific Auction.

5.20. The Investor shall not offer to lend more than the funds available in his/her Paysera account. Where during the Auction, the Investor confirm a concrete amount of money to the Borrower, the corresponding amount in the Investor’s Paysera account shall be reserved for this specific Loan.

5.21. The Investor who submitted the Offer during the Auction shall electronically confirm his/her acceptance of the Application conditions, i.e. by clicking on the ‘Agree’ button, the Investor shall provide an official consent for the conclusion of the Loan Agreement (acceptance). The Offer shall be irrevocable and invariable. The Offer shall be valid until the end of the Auction.

5.22. The Investor who confirmed the Offer shall not be permitted to provide a new Offer from the amount reserved and/or transfer this amount to his/her other account, except in cases where upon non-initiation of the Auction, the Operator cancels the reservation.

5.23. The Operator shall cancel the reservation of the Investor’s funds, in cases where (i) the Auction has not been initiated, or (ii) the Borrower fails to perform the actions required for payment of the Loan Amount. In this case, the Investor shall freely dispose of the amount of funds available on own Paysera account that was previously reserved.

5.24. Supervising the Auction, the Operator shall have the right to restrict the Application and/or Offer without prior notice.

6. Conclusion of the Loan Agreement

6.1. The Investor wishing to participate in the Auction must in advance create the Paysera account, and during registration on the Platform, grant the authorisation to the Operator for management and performance of technical actions with the funds on behalf of the Investor, as well as to have funds available on his/her Paysera account.

6.2. The Loan Agreement shall be concluded by means of the Auction and considered automatically concluded between the Borrower and the Investor(-s) who won the Auction as of the date of the end of the Auction. The winning Investors shall be those who before the expiration of a set term or moment, where the Application has been filled out at 100 percent, present their Offers faster than other Investors, under a condition that the Borrower shall be generally offered the full Loan Amount.

6.3. The Operator shall record and register all the Offers provided in the Auction in a chronological order. This procedure shall be established according to the time displayed on the Platform.

6.4. The Auction shall be organised by the principle of priority, i.e. The Auction shall be won by the Investors who present their Offers first. The Investor shall not be able to withdraw the Offer following its signing.

6.5. The Auction shall be considered to be non-initiated the Loan Agreement on the basis of the Application shall not be concluded, if within 30 (thirty) calendar days of the start date of the Auction or within in a shorter period specified in the Application, there are no Offers presented that match the full amount of the Application, unless it is clearly indicated in advance that the Auction will be divided and executed in several stages until the total Loan Amount is collected.

6.6. Upon closing of the Auction, the Platform shall send notifications to the Users regarding the results of the Auction, naming the winning Users and Offers, on the basis of which the Loan Agreements have been concluded.

6.7. Upon closing of the Auction, the Operator shall perform the following actions: (i) attribute a unique identification number to the Loan Agreement and send it to the e-mail address of the Borrower registered in the Operator’s database; (ii) draw up a relevant Loan repayment schedule for the Borrower; (iii) upon receipt of all the Guarantees of Performance Obligations from the Borrower, debit the funds from the Investor’s Paysera account and credit them to the Borrower’s Paysera account no later than on the following business day.

6.8. The Investor hereby confirms that the Operator shall have the right to credit the amount specified in the Offer to the Borrower’s Paysera account from the Investor’s Paysera account, as indicated in the Paysera account authorisation.

6.9. Upon closing of the Auction, the Users shall have the possibility to find out in real time their Loan repayment schedule, payment status, outstanding balance and other information. The Users may be identified by indicating the Usernames and/or codes and/or real names and surnames.

7. Partial financing

7.1. Upon submitting of the Application, the User might choose to collect the total Loan Amount in several stages. In such case upon approval of the Application, the Auction shall be divided and executed in several parts, until the total planned Loan Amount is collected. After financing of every stage, the Operator suspends the Auction and on behalf of the Investors enters into the Loan Agreement. In later financing stages the Operator resumes the Auction and allows the Investors to invest in the remaining part of the Loan.

7.2. The investor has a right to invest in the first and later stages of the Auction. The Interest shall be calculated to the Investor from the end date of the Auction when the full funded Loan amount collected, and it shall be paid each month. All the Investors under the entered Loan Agreements are considered to have the status of creditors with a primary mortgage on pledged assets specified in the Application.

7.3. In the event in one of the financing stages the Borrower is not able to completely collect the planned Loan Amount, the remaining part thereof is relocated in the following stage (if it is not the final financing stage), and the Loan Agreement on collected Loan Amount is concluded. If the Borrower is not able to completely collect the planned Loan Amount in the final financing stage, the Loan Agreement is concluded on the amount, which was collected during the final financing stage. In this event the Auction is considered to be successfully completed and the Loan Amount collected during the final financing stage is transferred, and the Loan Agreement with the Borrower is concluded.

8. Payments under the Loan Agreement

8.1. The Borrower shall pay the Loan Amount, Interest and other fees according to the approved Loan repayment schedule.

8.2. The Interest shall be calculated from the end date of the Auction when the final funded Loan Amount is collected, and it shall be paid each month.

8.3. The amount payable by the Borrower shall comprise the following: the Loan Amount to be repaid to the Investors, Interest, penalty charges and other payments openly published on the Platform.

8.4. The Borrower shall repay the Loan Amount and pay Interest according to the Loan repayment schedule set forth in the Special Terms and Conditions following the instructions provided by the Operator in the payment notification. If the information provided in the payment notification is different from the schedule provided in the Loan Agreement that has been published on the User’s account, the User shall perform payments according to the Loan repayment schedule.

8.5. The Borrower shall make the payment due to own Paysera account, wherefrom the Operator shall allocate the funds to the Investors and the Operator under the authorisation granted by the Borrower during registration on the Platform. Granting of the Borrower’s authorisation to the Operator via the Paysera system is a primary condition of the present Agreement and the Loan Agreement, in the absence of which the Operator would not have concluded this Agreement and will not act as a mediator for the conclusion of the Loan Agreement, and which is necessary to the Operator in order to ensure that the User adequately performs the obligations entered into. If the user withdraws the authorisation, the Operator will be unable to automatically debit the Borrower’s payments, which the Operator shall consider to be the material infringement of the Loan Agreement and the present Agreement. In this case, the Operator shall be entitled to terminate the Loan Agreement at any time (even where no delayed payments are identified) or to impose a fine on the Borrower in the amount of the Loan Amount, which shall be considered the liquidated damages of the Operator and the Investors, and to compensate to the Operator and the Investors any direct and indirect damages, if such have not been included in the fine.

8.6. The Borrower shall be obliged to transfer the funds to his/her Paysera account in a manner where the funds are credited to the account no later than on the date the payments due will be debited (i.e., on the day of payment of the Loan Amount and other charges).

8.7. In cases, where during automatic debiting of funds from the Borrower’ Paysera account, the Platform is unable to detect the funds sufficient for the full or part of a payment available in the Borrower’s Paysera account, this shall mean that the Borrower missed the payment term, in which case he/she shall be obliged to pay the penalty charges and/or other fees as set forth in the present Agreement, in the price list section available on the Platform or in the Special Terms and Conditions of the Loan Agreement.

8.8. The Interest income obtained by the Investors by lending the funds via the Platform shall be taxed and declared in accordance with the procedure set forth in the legal acts. The Operator shall and may not be held liable for adequate performance of obligations related to taxation of income.

8.9. The Borrower shall have the right to repay the outstanding Loan Amount and Interest under the conditions and in the procedure set forth in the General Terms and Conditions after advance notification to the Operator and upon receipt of the confirmation of the amount payable.

8.10. If the third parties will attempt to make payments instead of the Borrower and the Operator will be unable to properly identify these third parties, it shall be considered that the Borrower fails to fulfil his/her duties and shall be obliged to pay Interest for the corresponding period and other charges for the delayed performance of financial obligations.

8.11. The Borrower may not transfer he/she obligations to the third party without the prior written consent of the Operator.

8.12. The Operator acting as an authorised representative of the Investor(-s) shall have the right to unilaterally and immediately terminate the Loan Agreement and demand payment of the full Loan Amount, Interest and other delayed payments (fine and penalty charges) on the grounds set out in the Loan Agreement and the Civil Code of the Republic of Lithuania, as well as in cases where the Borrower declares refusal to perform the obligations or maliciously avoids payments, and in cases where the conduct of the Borrower demonstrates any signs of deceit or fraud, the Operator may declare gross violation of the Loan Agreement on behalf of the Borrower (material breach). The Operator shall send the notification by e-mail and/or registered mail and/or messenger services to the Borrower to the e-mail address and/or head office address of the Borrower indicated in the Special Terms and Conditions of the Agreement regarding (i) the delayed payment, and (ii) termination of the Loan Agreement. The notification shall be considered to have been delivered in 24 (twenty-four) hours of its dispatch (if sent by e-mail) or on the third business day of dispatch (if sent by registered mail or messenger services).

9. Platform payment system

9.1. The Platform shall manage all the payments and receipts via the Paysera platform managed by Paysera LT UAB, where each User must open a Paysera account. The funds shall be directly debited from one Paysera account of the User and credited to another User’s Paysera account (e.g. from the Investor’s Paysera account, upon a successful closing of the Auction, to the Borrower’s Paysera account, or where the Borrower is repaying the funds, from the Borrower’s Paysera account to the Investor’s Paysera account). The funds shall be credited to the Operator’s account only in cases where the funds belong to the Operator – the Operator’s fee and other charges.

9.2. The Operator shall perform crediting and debiting of the funds in the Paysera system under the authorisation provided by the User during registration and only to the extent it granted thereby.

9.3. The Operator shall not be the manager of the funds of the Investor and/or Borrower. The Operator shall only act as an intermediary who is responsible for the technical performance (administration) of the User’s functional instructions and mutually concluded Loan Agreements and not for the adoption of the specific decisions.

9.4. The Operator shall not be held responsible for the losses incurred by the User, which resulted due to inadequate decision-making on behalf of the User and/or incorrect information provided by the Borrower and/or in cases where the User has disclosed and/or lost the unique login information granting access to the Platform, and/or where in the event of damages to the system due to the activities of the third party not related to the Operator, the functional crediting and/or debiting operations have been inadequately performed.

9.5. The Operator shall not be granted the proprietary rights to the funds available in the User’s Paysera account, and which are not subject to legal obligations under the valid Loan Agreements and the present Agreement.

9.6. All transactions made in the User’s Paysera account shall be registered in the User’s account and the Paysera system.

9.7. The User shall be obliged to immediately inform the Operator about the funds credited to or debited from the Paysera account in error. Where there are insufficient funds available on the Paysera account in order to debit the amounts credited in error, the User shall be obliged to return the erroneously credited funds to the Paysera account within 5 business days of the request of the Operator. If the User fails within 5 business days to repay the funds credited to the User’s Paysera account in error, the Operator shall have the right to unilaterally write off this amount from the User’s Paysera account.

10. Indebtedness of the User and Debt administration fee

10.1. The Borrower shall be obliged to perform his/her obligations under the Loan Agreement in a due and timely manner. The Borrower shall be obliged to additionally pay the interest provided for in the General Terms and Conditions of the Loan Agreement applicable to the violations thereof.

10.2. The Borrower who delays any payments shall be informed about it by e-mail and/or an SMS message. Failure to inform shall not release the Borrower from full discharge of all obligations.

10.3. The Operator shall not be responsible for non-performance of obligations on behalf of the User, including late payments of the Borrower or the Investor.

10.4. The Loan Agreement may be terminated by the unilateral decision of the Operator in cases prescribed by the General Terms and Conditions of the Loan Agreement and the present Agreement.

10.5. The inability of the Borrower to transfer the funds in due time according to the Loan repayment schedule shall mean that the Borrower shall be obliged to pay the following:

10.5.1. as of the first day of delay of the payment – the penalty charges of the delayed Loan Amount and Interest for each day of delay, which shall be owned by the Lenders;

10.5.2. if the Borrower concluded more than one Loan Agreement on the Platform, while the funds available on the Borrower’s Paysera account are not sufficient to cover all the amounts payable under the Loan Agreement to the Investors, the Lender’s obligations shall be satisfied proportionally to the amounts of the loan provided by the Investors.

10.6. The Investor and the Borrower hereby agree and confirm that the Operator may at own discretion either: (i) surrogate itself to the claims of the Investor(-s) in the procedure set forth in the present Agreement for Use and the Loan Agreement, or (ii) act as the Investors’ representative imposing recovery under the Loan Agreement, including the rights granted under the Republic of Lithuania Law on Crowdfunding and/or other legal acts, and in cases requiring to ensure performance of the Loan Agreement and debt recovery. For these purposes, the Operator shall also be delegated to perform all actions required for due representation of the Investors’ interests and administration of debt repayment. Automatic subrogation of a claim (with the right of transfer to the third party) shall occur following notification sent by the Operator to the Borrower to the e-mail address and/or by registered mail and/or messenger services to the head office address of the Borrower indicated in the Platform database regarding termination of the Loan Agreement and subrogation of a claim The automatic subrogation of a claim shall be performed by using the deferred payment, which means that the Operator will pay to the Investor the price of the claim equal to the funds recovered from the Borrower, less the charges specified on the price list of the Services. The Borrower hereby confirms that the Lender’s entity does not have any essential significance. In all cases of the Operator’s subrogation to the claim, all the performance guarantees shall also be transferred, including but not limited to the right to mortgage/pledge.

10.7. The Operator shall have the right to transfer the recovery from the Borrower to the debt collection companies, and in this case, the Borrower shall be obliged to compensate the applicable recovery fee and/or bear all other expenses incurred by the Operator or the debt collection company in relation to such subrogation.

10.8. Upon subrogation to the claim, the Operator shall act as a reasonable creditor and make all efforts to recover the debt, however, the Operator shall be liable to the Investor neither individually, nor jointly or subsidiary with the Borrower for recovery of the debt and amount it will succeed to recover. The Investor hereby agrees and confirms the above.

10.9. Acting as the representative of the Investor (i.e. creditors), the Operator shall have all the rights and duties provided for in the Republic of Lithuania Law on Crowdfunding, Civil Code of the Republic of Lithuania and other legal acts, and for these purposes it shall not be required to conclude a separate authorisation or another document of an equivalent content.

10.10. The Borrower shall have the right to contact the Operator in writing, who shall be entitled to adjust the payment schedule in the cases and procedure provided for in the Loan Agreement.

10.11. Upon receipt of the funds from the Borrower, the obligations of the latter in relation to the delayed payments shall be debited in the following sequence:

10.11.1. first – penalty charges due to the Investors;

10.11.2. second – Interest and the Loan Amount due to the Investors.

10.11.3. In cases where the obligation was transferred as an enforced recovery, first to be compensated shall be the expenses incurred by the Operator in related to such recovery (expenses on the executive endorsement, order for payment, correspondence, payments for debt recovery services, official duty, legal expenses, etc.).

10.12. The Investor pays to the Operator the Debt administration fee, which is equal to 0.1% of the amount the due date of which has been missed under the Debt return schedule. The Debt administration fee shall be paid for every due calendar day indicated in the Debt return schedule until the Borrower fully settles up with the Investors.

10.13. The Debt administration fee shall be paid only upon return of default interests (or part thereof) from the Borrower under the Loan Agreement (including when the Borrower pays the default interests (or part thereof) after receipt of request from the Operator and in other cases).

10.14. The Debt administration fee shall be paid upon distribution of default interests under the Loan Agreement. Under this Agreement the Investor grants the right and power to the Operator on behalf of the Investor to submit the order to “Paysera LT”, UAB, to transfer Debt administration fee to the Operator. After payment of the Debt administration fee, the invoice with applied amount of Debt administration fee and confirmation on payment thereof is placed in the Investor’s account. The Investor hereby grants the Operator a right and power on behalf of the Investor to submit the order to “Paysera LT”, UAB to transfer (deduct) Debt administration fee from the Investor’s Paysera account to the Operator.

11. Pricing

11.1. The fees charged by the financial institutions chosen by the User for transfer of funds between the User’s bank account and the User’s Paysera account shall be borne by the User.

11.2. The Borrower, its members and property verification fees shall be applicable to the Borrower according to the Service rates valid at the moment.

11.3. The Borrower shall pay the fees charged due to payment delays of the Loan Amount as specified in the terms and conditions of the present Agreement and the Loan Agreement.

11.4. All fees and costs payable by the User shall be available on the Platform in the price lists of Services then valid. The User shall agree with this procedure of establishment of the amount of penalty charges, and hereby agrees that it shall be compared to a written agreement between the User and the Operator.

11.5. The Borrower shall pay to the Operator a one-off Operator’s free.

11.6. If the payment day of the loan repayment instalments and other payments due by the Borrower falls on the official day off or public holiday, the payment day shall be considered to be the following business day.

12. Operator’s limitation of liability

12.1. The Operator shall not be held responsible for the following:

12.1.1. correctness and validity of data provided by the User to the Operator and other Users and information added to the Platform content by the Users;

12.1.2. actions and/or omissions of Paysera LT UAB, the administrator of the User accounts;

12.1.3. unlawful conduct on behalf of the User and performance of obligations under the Agreement and/or Loan Agreement;

12.1.4. validity and lawfulness of the Loan Agreements and other transactions concluded on the Platform;

12.1.5. any losses, if such were incurred due to the force majeure circumstances, including those resulting from the actions of the third parties, malfunctioning of transfer of communication messages, exchange of electronic data and payment systems, or other circumstances beyond the control of the Operator.

12.2. The Users shall directly conclude the Loan Agreements on the Platform with other Users by own will and at own risk, and act themselves as the party to the agreements.

12.3. The Operator shall be the party to the Loan Agreement in accordance with it the terms and conditions thereof, i.e. shall not be responsible for borrowing and repayments, but authorised to perform only the specific functions provided for in the Loan Agreement and the present Agreement.

12.4. The Users shall assume the risk and liability by using the agreement templates provided on the Platform, and must inform the Operator of any inaccuracies or inconsistencies have been identified.

12.5. The Operator shall not be held responsible for the obligations which might arise to the Borrower and/or Investor in accordance with the legal acts in force when concluding the Loan Agreement via the Platform and/or during performance thereof.

13. Automatic investment tool

13.1. The automatic investment tool is a manner in which the Investors can pre-set the advance investment parameters and take part in the Auction on the basis of such advance setting, automatically invest into the Applications and submit Offers. The Users can modify the parameters of the automatic investment tool.

13.2. The Investor’s Offer submitted via the automatic investment tool shall be equivalent to the Offer provided personally by the Investor and shall bear the same rights and duties as set forth in the present Agreement.

13.3. The Users shall assume the risk and be liable for use of the automatic investment tool, selection of parameters, as well as the credit risk and possible non-performance of the obligations under the Loan they invest into.

14. Insolvency of the Operator

14.1. Upon initiation of the Operator’s bankruptcy or restructuring proceedings, all Auctions shall be suspending and no new Loan Agreements shall be concluded.

14.2. All information necessary for the due performance of the valid Loan Agreements, ensuring continuity of the pending recovery and other activities required to guarantee proper legal relations shall be delegated to the bankruptcy or restructuring administrator or another authorised person.

14.3. The bankruptcy of the Operator shall not have an influence on the Loan Agreements concluded between the users, and they shall continue to be effective. The recovery under the Operator’s liabilities may not be directed towards the Loan Amounts.

15. Personal data of the User

15.1. Upon confirmation of the present Agreement by the User for the purposes of use of the Platform and the Operator’s services, the User hereby authorises the Operator to process his/her personal data related to this Agreement and the Loan Agreement. The User shall grant the right to the Operator to process his/her personal data for the purposes and in the scope specified in the Agreement and the User’s Loan Agreement, as well as on the grounds and in the manner provided for in the legal acts. If necessary, the Operator may request such consent to be also provided by the User’s managers and/or members. The rules applicable to the processing of personal data of these individuals shall be the same as those applicable to the User. The Users, being natural entities, shall have the right to revoke the permission for processing of their personal data at any time and demand suspension of processing of personal data, destruction of or protection of access to their personal data collected, if the User no longer has valid legal relationships or Agreements concluded with the Operator or other Users, or if the Operator is not obliged to keep those data.

15.2. The Operator shall have the right to process all data of the User, which the patter provided to the Operator when rendering services to the User under the present Agreement and the User’s Loan Agreement. The Operator shall also have the right to search and gather information on the User from the publicly accessible sources.

15.3. The User hereby agrees that the Operator will provide the User’s personal ID number and receives and processes his/her personal data and data regarding the User for the following purposes: identification, verification of correctness of data, risk assessment, conclusion of the Loan Agreement, provision of financial service and conclusion, performance and monitoring of other transactions, agreement and customer accounting (financial, bookkeeping, statistic), prevention of financial losses, protection and defence of the Operator’s rights and lawful interests, solvency assessment, debt management, due provision of services and for other purposes. The User hereby agrees that the Operator receives all the User’s data the Operator is authorised by law to receive from the registers and/or agreements.

15.4. The Operator shall have the right to process all User’s data in the scope necessary for the provision of the services to the User under the present Agreement and the Loan Agreement, including the data reasonably required to be provided via the Platform for performance and guarantee of performance of the Loan Agreements. These data shall be (including):

15.4.1. the User’s personal data (e.g., as name, surname, date of birth, personal ID number, marital status, data from a personal document, etc.);

15.4.2. the User’s contact details (e.g., residence address, postal address, telephone number, etc.);

15.4.3. information on the User’s profession and education (e.g., regarding degrees, employment, positions, qualifications, etc.);

15.4.4. information on the User’s financial position (e.g., income, expenses, available property, obligations, etc.);

15.4.5. the general data on the User (e.g., data on the suitability of performance of the obligations, regularity of monetary deposits, Platform attendance, participation in the Platform forum, involvement on the Platform activities, etc.);

15.4.6. the User’s personal data from social networks in cases and in the scope authorised by the User by granting consent via the social networks (Facebook, Twitter, LinkedIn, etc.).

15.5. The Operator shall process and use the User’s data for the purposes of verification of whether a concrete User is able to undertake new obligations and duly fulfil them, this way seeking to minimise the possibility of non-repayment of the Loan Amounts. The data shall also be used to enable the Operator to duly provide the Platform services to the Users and monitor the performance status of the Loan Agreements.

15.6. The Operator shall have the right to use the anonymised data of the User for the purposes of cross-cutting statistical data analysis in order to carry out the statistical and financial analysis, improve quality of services and reduce the risks, etc. The Operator shall have the right to publish the anonymised data for the purposes of statistical analysis of such data, and use them for the marketing and other purposes.

15.7. The User hereby agrees that the Operator is entitled to disclose the User’s data (in cases where such disclosure is mandatory and where it is reasonably necessary):

15.7.1. to the Operator’s service providers, who due to the character of their services are unable not to gain access to the User’s data (accounting companies, providers of IT services, lawyers, courts, judicial officers, debt recovery companies, database managers, etc.);

15.7.2. where the Operator is obliged to disclose them in compliance with the legal acts in force.

15.8. The Operator shall have the right to use the contact information provided by the User for communication with the User for the purposes of verification of information and/or other urgent issues, as well as to offer new services to the User, i.e. for direct marketing purposes. The Users shall be able to inform the Operator about their refusal to grant consent for the processing of their data for the purposes of direct marketing. The Operator shall have the right to pass on the User’s telephone number, name and surname, information on the Loan Amount and data on the available property to the Operator’s partners, who will be able to contact the User and propose an alternative Loan offer.

15.9. The Operator shall have the right to register the data additionally received from the User’s during contact with the Users (by mail, telephone, e-mail, etc.).

15.10. Following termination of the Agreement, the Operator shall process the User’s data for a period of 10 years.

15.11. The User hereby guarantees that all the data provided to the Operator during the use of services rendered by the latter are correct.

15.12. The User who provided misleading information shall be liable for the damages incurred by the Operator and/or other User due to this information, including the cases were the Users conclude an agreement with the User who provided such misleading information on the basis of the assumption that this information is accurate.

15.13. The Borrower shall be obliged to provide information requested by the Operator, which is necessary for the establishment of the Borrower’s financial position and/or determination of the value of the guarantee of performance and/or performance of the Operator’s functions.

15.14. The User hereby agrees to publish his/her anonymised data on the Platform during the Auction, when he/she fills out and confirms the Application.

15.15. The User has been informed that:

15.15.1. In cases and in the procedure prescribed by law, the Operator shall have the right to receive personal data of the User from the third parties, in respect of which the User failed to fulfil his/her financial or proprietary obligations, as well as from the data managers processing the joint data files of the debtors;

15.15.2. If the Borrower fails to adequately fulfil his/her obligations under the Loan Agreement for a period of more than 35 calendar days, the Operator shall have the right, having notified the Borrower, to provide the Borrower’s personal data to Creditinfo Lietuva UAB, other managers of joint data files of the debtors and all other third parties holding lawful interest.

15.15.3. The Operator shall obtain the User’s data during his/her registration, identification, submission of Applications and Offers, investment, discussion and the entire time he/she acts as the User.

15.16. The User is aware and understands that the Loan Agreement is concluded between the Borrower(-s) and the Investor(-s). Pursuant to this provision, the Investor(-s) shall be able to see the Borrowers’ name and registration numbers, and the Borrower(-s) shall be able to see the Investors’ names, surnames and/or corporate names, as well as the registration number or personal ID number. The Users shall agree and not object that these data are public and accessible to the parties to the Loan Agreement.

15.17. The User shall be obliged not to disclose to any third parties any information received during performance of the Loan Agreement, including information pertaining to the other party to the Loan Agreement, such as name, surname, personal ID number, sum of the Loan Amount, Interest rate, Loan repayment terms, amounts transferred by a certain Investor, committed violations of the Loan Agreement, schedule for repayment of the Loan Amount, ongoing enforced recovery, etc. The person who violates this confidentiality obligation shall be obliged to pay to the aggrieved party a fine in the amount of 15 (fifteen) percent of the Loan Amount and to pay a fine to the Operator in the amount of 15 (fifteen) percent of the Loan Amount (which the Parties shall consider the liquidated damages of the Operator and the User(-s)) and to compensate all direct and indirect damages, if such have not been covered by the fine.

15.18. The Investor and the Borrower shall not have the right to use the information specified in paragraphs 16 and 15.18 of this Agreement in order to meet their other needs, including but not limited to the purposes of obtaining the deferment of a certain share of the Loan or early repayment, proposing other services, etc.

16. Final provisions

16.1. The Parties hereby agree that the Operator shall act in the present Agreement and the Loan Agreement not as a party to the loan obligation, but as an entity performing the administration of the Platform and/or functions of the Loan Agreement.

16.2. The Operator shall have the right to unilaterally modify the present Agreement and announce the changes on the Platform. In the event of material change of the Agreement, the Operator announces about the occurred modification to every User to its provided e-mail address. The User shall have a right to disagree to material change and terminate this Agreement by notifying the Operator via e-mail. Such termination does not have any legal effect on User’s rights and obligations under this Agreement to such Loan Agreements which were concluded before termination of this Agreement. The modifications to the Agreement shall come into effect on the date of their publication on the Platform or after the term indicated in the e-mail and be binding to all the Users who use the Platform and all transactions concluded via the Platform. The Operator shall have a right to unilaterally decide on every given case whether the respective modification is material.

16.3. The User shall have the right to disagree with the modifications and terminate the present Agreement. Such termination shall not have an impact on his/her rights and duties under the Loan Agreement(-s) concluded via the Platform prior to termination of this Agreement.

16.4. The User shall be able to terminate this Agreement by e-mail at any time when his/her obligations towards other Users and Operator arising from the Loan Agreements concluded on the Platform have been discharged in full and he/she has no intention to continue using the Platform.

16.5. The Operator shall terminate the Agreement at any time by sending a notification to the User’s account if the User commits a material breach of this Agreement and/or in other cases where such termination is necessary (without the User’s fault). In this case, the Operator may restrict the User’s ability to use the Platform.

16.6. The Agreement shall come into force at the moment it has been electronically confirmed by the User by selecting the respective field on the Platform, and shall be valid together with all modifications and supplementations thereto until the full discharge of obligations under the Loan Agreement and/or while the User is using the Platform.

16.7. The present Agreement and the Loan Agreement shall be governed by and interpreted in accordance the legal acts of the Republic of Lithuania.

16.8. All disputes, disagreements or claims arising between the Users and between the Users and the Operator shall be examined in the procedure set forth in the legal acts of the Republic of Lithuania by the District Court of Vilnius City or the Vilnius County Court, depending on the nature of the dispute.

The present Agreement for the use of the platform located at www.nordstreet.com/.lt/.eu has been declared on 25th of July 2019.