ASSIGNMENT AGREEMENT No

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1 ASSIGNMENT AGREEMENT No Assignor and Assignee s name and contact information Assignor Company name: LLC TWINO Registration No.: Legal address: Mūkusalas Street 41, Riga, LV info@twino.eu Phone: Assignee Company name/ Name, surname: Registration No./ Personal code: Legal address / Declared address: Phone: Home page: PRINCIPAL CONDITIONS OF THE ASSIGNMENT AGREEMENT 1. Assignee s (Investor s) identification number: 2. Loan agreement No.: 3. Amount of the claim: 3.1. the outstanding amount in full or in part purchased by the Investor; 0.00 EUR 3.2. Loan maturity date; Loan interest rate; 0.0 % 4. Total amount of the claim at the 0.00 EUR LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 1

2 time of entering into the Assignment Agreement: 5. Amount of the claim: 0.00 EUR 6. Buyback guarantee Twino undertakes to repurchase the Claim from the Investor (Assignor) and pay the amount equal to the remaining principal amount of the Claim and accrued but yet unpaid amount of the Interest to the Assignee s (Investor s) account, in instances where the Loan maturity has been delayed for more than 30 (thirty) days. GENERAL PROVISIONS OF THE ASSIGNMENT AGREEMENT 1. Used terms and definitions Loan agreement - A remote access agreement on provision of the Loan to the Borrower entered into by the Borrower and Lender in accordance with the provisions of the Loan Agreement. Loan - Funds granted to the Borrower by the Lender in accordance with the Loan Agreement. Lender - A legal entity that grants the Loan to the Borrower based on the Loan Agreement. Borrower - An individual that enters into the Loan Agreement with the Lender. Borrower s personal data - Any information relating to the Borrower. Assignor - The Creditor that transfers a right to claim LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 2

3 (Claim) against the Borrower resulting from the Loan Agreement to the Assignee. Assignor s bank account Any current account opened in the name of the Assignor with a credit establishment registered in Latvia or a branch of a foreign credit establishment in Latvia or any other EU credit establishment. Assignment Agreement (this Agreement, hereinafter referred as the Assignment Agreement) - An agreement entered into by the Assignor and Assignee, providing that the Assignor transfers the Claim against the Borrower to the Assignee. Assignee s bank account - Any current account opened in the name of the Assignee with a credit establishment registered in Latvia or a branch of a foreign credit establishment in Latvia or any other EU credit establishment. Assignee - An individual or legal entity who has purchased the right to Claim against the Borrower Price list - The payments, as stipulated on the Website, that shall be paid by the Investor to TWINO for the Servicing of the Claim and other actions taken by TWINO. Investor s bank account - Any current account opened in the name of the Investor with a credit establishment registered in Latvia or a branch of a foreign credit establishment in Latvia or any other EU credit establishment. Investor - An individual registered on the Website and interested in the purchase of the Claims against the Borrower on the Lender s Website, including LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 3

4 the individual who has purchased the Claim or the Assignee and the individual who has sold the Claim or the Assignor. Investor s account - An individual account created and maintained by TWINO for each Investor on the Investor s profile on the Website that allows the entering into and fulfillment of the Agreement and Assignment Agreement. Investor s profile - An individual s or legal entity s work platform registered on the Website and accessible to the Investor after the Investor s registration on the Website, after the Investor has logged into the Website, stipulating his address and password. Creditor - An individual or a legal entity that has the right to claim against the Borrower in accordance with the Loan Agreement in full or in any part. Party/-ies - Assignor and/or Assignee. Regulations for the use of the Website - Regulations for the use of the Website set forth in this Agreement and Home Pages to be complied with by each Investor, when registering on and using the Website, purchasing the Claim and entering into the Assignment Agreement. Agreement for the use of the Website (hereinafter called the Agreement) - The remote access agreement between TWINO and the Investor for the procedure for use of the Website and Investor s profile to be entered by TWINO and Investor in accordance with the Agreement and Regulations for the use of the Website. LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 4

5 Web Page - The Lender s Web Page at where individuals may register as Investors and create an Investor s profile, and where all information needed to receive the Loan is stipulated. Servicing of the Claim - Totality of actions taken by TWINO in relation to the sale of the Claim, entering into the Assignment Agreement, collection of the amount of the Claim, transfer of funds to the Assignee or other actions stipulated on the Website. Price of Servicing of the Claim - The price stipulated in the Price List on the Lender s Web Page to be paid to the Lender for Servicing of the Claim. Price of the Claim - Price to be paid by the Assignee to the Assignor for the Claim or part of the Claim. The Price of the Claim is stipulated in the principal conditions of the Assignment Agreement. Claim - The Claim against the Borrower or its part stipulated in the Assignment Agreement that results from the Assignment Agreement. The amount of the Claim is stipulated in the principal conditions of the Assignment Agreement Interest - The remuneration for the use of the amount of the Loan stipulated in the Assignment Agreement included in the Claim. The Interest is calculated based on the claimed remaining outstanding principal amount of the Loan, and the Borrower shall calculate these amounts in accordance with the provisions of the Loan and Schedule that forms an integral part of the Loan. LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 5

6 Registration application - An application filled in by an individual or legal entity on the Website to register as an Investor. Third person - Any individual or legal entity that is not a party to this Agreement. TWINO - LLC TWINO, unified registration No , legal address: Mūkusalas Street 41, Riga, LV-1004, that ensures sale of the Claim against the Borrower, entering into the Assignment Agreement and Servicing of the Claim. TWINO s bank account - LLC TWINO, unified registration No , legal address: Mūkusalas Street 41, Riga, LV-1004 stipulated on the Website. 2. Interpretation of the Assignment Agreement 2.1. In this Assignment Agreement, if a context so requires, the singular shall mean plural and vice versa Any gender in this Assignment Agreement shall mean another gender For the purposes of this Assignment Agreement, it is presumed that the words includes or including are followed by the phrase but not limited to The headings and clauses are provided in order to facilitate the work and do not affect clarification of the Assignment Agreement This Assignment Agreement is a document discussed by both Parties, and the Parties understand and accept its clauses to the fullest extent, and when interpreting this Agreement, no Party shall have any advantages or disadvantages due to the fact that one of them was or could be responsible for preparation of the Agreement or any of its part. 3. Scope of the Assignment Agreement and the procedure for its conclusion LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 6

7 3.1. In accordance with this Assignment Agreement, the Assignor shall assign to the Assignee a Claim against the Borrower that results from the Loan Agreement subject to conditions of this Assignment Agreement for the price of the Claim provided by the Assignment Agreement The Lender confirms that the Loan has been granted to the Borrower based on the conditions of the Loan Agreement and received by the Borrower The Assignee confirms that he has read and understood the provisions of the Assignment Agreement containing the grounds of the Claim and shall not submit any other claims against the Borrower, Assignor or TWINO in this respect In accordance with this Agreement, the Assignee does not undertake any liabilities or obligations to the Borrower himself that may result from this Assignment Agreement or Loan Agreement The right to claim shall be transferred from the Assignor to the Assignee at the moment when the Assignee has paid to the Assignor the relevant Price of the Claim in full The Parties agree that amount of the interest calculated for the Borrower and unpaid by the Borrower shall not be transferred from the Assignor to the Assignee at the moment of entering into the Agreement. Forfeit fine of the late payment shall not be transferred from the Assignor to the Assignee Simultaneously with this Assignment Agreement, the Assignee hereby authorizes the Lender at its discretion to make any amendments and supplements to this Assignment Agreement without prior coordination with the Assignee, including an extension of the Loan repayment period, but no more than 6 (six) times, stating that each of the 6 (six) Loan repayment periods may not be longer than 30 (thirty) days. The Assignee also stands informed that the aforementioned authorization of the Lender is in force for the duration of the Assignment Agreement, and in this regard the actions taken by the Lender are binding for the Assignee The Parties agree that the Claim against the Borrower shall be transferred to the Assignee only in the amount agreed by the Parties in the principal conditions of the Assignment Agreement If the Assignee purchased the Claim that results from the Loan Agreement in part only, the Assignee is informed and agrees that the Claim does not include all the Assignor s claims against the Borrower If the Assignee purchased the Claim that results from the Loan Agreement in part only, the Assignee is informed and acknowledges that, in this case, the Assignee is not the Borrower s sole Lender (Assignee), and all payments received from the Borrower are distributed in proportion between all Lenders (Assignees) The sample Assignment Agreement, without the Borrower s personal data, shall LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 7

8 be published on the Website, and the Assignee hereby confirms that he is familiar with the conditions of the Assignment Agreement, and the Assignee refuses to submit any claims against the Lender, Assignor or TWINO in this respect By entering into this Assignment Agreement, the Assignee confirms that he has familiarized himself with and accepts the Assignment Agreement and Regulations for the Use of the Website The Assignee confirms that he understands the rights and obligations resulting from the Assignment Agreement, and that the provisions of the Assignment Agreement correspond to the Assignee s will The Assignment Agreement shall be deemed as concluded and shall come into force when the Assignee confirms the Assignment Agreement on his Investor s profile on the Website, and when the Price of the Claim is transferred to the Assignee from the Assignee s (Investor s) account The Assignor confirms that, at the time of entering into the Assignment Agreement, he is capable and not under the influence of alcohol, drugs and/or any other psychotropic substances The laws of the Republic of Latvia, regulations of the Cabinet of Ministers or any other regulations binding upon the Parties or the Borrower and decisions or instructions made by the municipalities are binding upon the Parties, and this Assignment Agreement shall be amended in accordance with new regulations, decisions and instructions The Assignee confirms that he understands and agrees that, if the laws of the Republic of Latvia, regulations of the Cabinet of Ministers or any other governmental or municipal regulations or decisions or instructions provide for any obligations to make amendments to the Loan Agreement, the Lender shall be entitled to make amendments to the Loan Agreement subject to at least 5 (five) days prior notification of the Assignee bound be such amendments made by the Lender. 4. Procedure for payment 4.1. The Price of the Claim for which the Assignee purchases the Claim shall be agreed by the Parties before the entering into this Assignment Agreement, and this is stipulated in the principal conditions of the Assignment Agreement The Assignee shall pay the Price of the Claim simultaneously with the conclusion of the Assignment Agreement and approval of the conditions of the Assignment Agreement Simultaneously with the conclusion of this Assignment Agreement, the Assignee shall authorize TWINO to withdraw the required amount for the Claim (Price of the LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 8

9 Claim) from the Assignee s (Investor s) account As soon as the Assignee has agreed to purchase the Claim and confirmed the provisions of the Assignment Agreement, TWINO shall transfer the Price of the Claim from the Assignee s (Investor s) account to the Assignor s bank account or Assignor s (Investor s) account The Claim is deemed paid at the moment when the Price of the Claim is credited to the Assignor s bank account or Assignor s (Investor s) account The Assignee obtains a right to Claim at the time of entering into this agreement, when the Price of the Claim is transferred from the Assignee s (Investor s) account to the Assignor s bank account or Assignor s (Investor s) account. 5. Authorisation for Servicing of the claim 5.1. Hereby, the Assignee simultaneously authorises the Lender to do the following: to amend and/or enter into an additional agreement to the Loan Agreement; on behalf and in the interests of the Assignee against the Borrower to use all rights and powers assigned under this Assignment Agreement in the name of the Assignee, by asking the Lender to act on his own behalf but in the interests of the Assignee to manage the Claim in all aspects and take all actions required relating to the repayment of the Loan and fulfilment of the Loan Agreement, until the Loan is repaid in full and the Claim is discharged in full As the Assignee has authorised the Lender to Service the Claim in accordance with the provisions of clause 68 of the Regulations of the Cabinet of Ministers No. 1219, dated 28th December 2010, Regulations for consumer crediting, the Parties agree that they do not have to notify the Borrower when entering into the Assignment Agreement During the entire period of the Assignment Agreement, the Lender acts with due care and to ensure representation and protection of the Assignee s interests The Assignee s authorisation specified in the Assignment Agreement is applicable to all and any the Lender s employees and authorised representatives Along with conclusion of the Assignment Agreement, the Lender is granted with the power of attorney, providing for authorisations, valid throughout the validity period of the Assignment Agreement The Parties agree that before the Claim is discharged in full, the Assignee shall not cancel the authorisation to manage the Claim and Service the Claim issued by the Lender. LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 9

10 5.7. If the Assignee cancels the power of attorney issued to the Lender, TWINO shall be entitled to use its right to repurchase the Right to Claim in accordance with the procedure provided for by the Assignment Agreement Hereby, the Assignee simultaneously authorises TWINO to do the following: to transfer the price of the claim from the Assignee s (Investor s) account to the Assignor s account or Assignor s bank account; to distribute the payments among all Assignees who have valid rights to claim against the Borrower at the moment of receipt of the payment and to transfer them to the Assignee s (Investor s) account; to deduct all payments relating to this Assignment Agreement in accordance with the Price List; at any time, to terminate this Assignment Agreement, by repurchasing the Claim from the Assignor and paying the amount stipulated in clause 8.3 of the Assignment Agreement for the repurchase of the Claim to the Assignee s (Investor s) account. 6. Assignor s representations, rights and obligations 6.1. The Assignor confirms that he has not transferred or pledged to third parties or otherwise encumbered the Claim transferred to the Assignee The Assignor shall be responsible to the Assignee for the validity of the transferred Claim The Assignor shall notify the Assignee on the circumstances that affect or may affect fulfillment of the Assignment Agreement on the part of the Assignor The Assignor shall not be responsible for any delay by the Borrower of the terms for repayment provided by the Assignment Agreement The Assignor shall not be responsible for the Investor or Assignee or their liabilities and successors or heirs or any other third party if the Assignment Agreement is not fulfilled on the part of the Borrower in full or in part, and the Claim is not repaid and cancelled. 7. Assignee s representations, rights and obligations 7.1. The Assignee shall comply with all provisions of this Assignment Agreement during the entire period of the Assignment Agreement The Assignee shall pay TWINO for the Servicing of the Claim and make other payments in accordance with the Price List If the laws of the Republic of Latvia, regulations of the Cabinet of Ministers or any LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 10

11 other regulations binding upon the Parties or the Borrower and decisions or instructions made by the municipalities affect this Assignment Agreement, certain Parties rights and/or obligations, the Assignee shall agree to the amendment of this Assignment Agreement in accordance with the new regulations, decisions and instructions If the laws of the Republic of Latvia, regulations of the Cabinet of Ministers or any other governmental or municipal regulations or decisions or instructions provide for an obligation to make amendments to the Loan Agreement, the Assignee shall accept the relevant amendments to the Assignment Agreement The Assignee shall not cancel the authorization to manage the Claim and Service the Claim issued by TWINO. 8. Servicing of the Claim and procedure for payments 8.1. In accordance with the powers of attorney issued in accordance with this Assignment Agreement, TWINO ensures Servicing of the Claim, accepts all payments resulting from the Assignment Agreement from the Borrower and makes payments to the Assignee in accordance with the procedure and for the amount provided for by this Assignment Agreement TWINO, Lender and Assignor shall not be responsible for any delay of payments provided for by this Assignment Agreement by the Borrower TWINO services all payments made by the Borrower in accordance with the provisions of the Loan Agreement and transfers to the Assignee all received payments in the following amount and order: The principal amount of the Loan received by TWINO from the Borrower shall be paid to the Assignee, and if the Assignor has not purchased the entire Claim against the Borrower or the Claim against the Borrower is purchased by several Assignees, the principal amount of the Loan is divided proportionally to each Assignee s Claim against the Borrower; The Interest and all incidental claims resulting from the Loan Agreement and relevant Claim received by TWINO from the Borrower shall be paid to the Assignee, and if the Assignor has not purchased the entire Claim against the Borrower or the Claim against the Borrower is purchased by several Assignees, the received payments are divided proportionally to each Assignee s Claim against the Borrower TWINO shall transfer payments received from the Borrower to the Assignee (Investor) to the Investor s account immediately after their receipt from the Borrower Prior to transfer of the payments received from the Borrower to the Investor s account, TWINO is entitled to withhold the Price of Servicing the Claim and other payments in accordance with the Price List found on the website. LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 11

12 8.6. The Assignee is notified and agrees that in accordance with the provision of the Loan Agreement, the Borrower may repay the Loan before the term defined in the Loan Agreement If the Borrower repays the Loan earlier than the date stated, TWINO shall transfer the Assignee s relevant part of the Claim to the Assignee (Investor) to the Investor s account, withholding the Price of Servicing the Claim and other payments in accordance with the Price List If the Borrower repays the Loan earlier than the date stated, the Assignee shall not submit any claims damages from the Borrower, Assignor or TWINO, including the loss of profit The Assignee is notified and agrees that neither TWINO, the Borrower nor Assignor is responsible for fulfillment of the Borrower s liabilities in accordance with the Loan Agreement This Assignment Agreement also authorizes Lender to settle all matters and take all necessary actions relating to the collection of the Claim, including but not limited to taking extrajudicial actions aimed at collecting the Claim, and to prepare and send all types of claims, applications, explanations and other correspondence, for representation in all establishments and institutions of the Republic of Latvia, all courts whenever needed in relation to the collection of the debt and all related incidental claims with all rights provided by the civil and criminal laws of the Republic of Latvia for the participants of the case, including but not limited to submitting explanations; filing claims, counter claims, and applications; refusing claims and applications; filing evidences and explanations; challenging court decisions and judgments; submitting executive documents for collection; submitting and receiving all applications, references, pleas, decisions, and opinions at all establishments; making all necessary payments; and to fulfilling all necessary formalities relating to the performance of this power of attorney in relation to the above. 9. TWINO s right of repurchase 9.1. The Parties agree that with this Agreement TWINO is entitled at any time to repurchase the Claim from the Assignee and the Assignee shall refuse to make any related objections or claims If the Assignee wishes to sell his claim to another Investor, he may do so under condition that TWINO s right of repurchase applies to the new Assignee If TWINO wishes to use his right of repurchase and repurchase the Claim from the Assignee, TWINO shall pay an amount equal to the remaining principal amount of the Claim, plus any accrued outstanding Interest to the Assignee s (Investor s) account The Claim shall be deemed repurchased after TWINO has notified the Assignee on LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 12

13 the use of the right of repurchase and paid the amount stipulated in clause 8.3 of the Assignment Agreement for the repurchase of the Claim to the Assignee s (Investor s) account. 10. Limitation of use of the Borrower s personal data In accordance with clause 68 of the Regulations of the Cabinet of Ministers No dated December 28, 2010 Regulations for consumer crediting and Parties will, the Parties agree not to notify the Borrower of this Assignment during the entire period of the Assignment Agreement and refuse to submit claims against each other in relation thereof During the period of this Assignment Agreement, the Assignee shall not claim any additional information relating to the Borrower or any Borrower s personal data from the Assignor and TWINO The Assignee hereby undertakes not to contact or meet with the Borrower in relation to the Loan Agreement, Assignment Agreement or Servicing of the Claim. 11. Termination of the Agreement TWINO may limit the Assignee s ability to use the Website, block the Investor s profile and/or Assignee s (Investor s) account or unilaterally terminate this Assignment Agreement and delete the Investor s profile in the following cases: if the Assignee violates the provisions of the Assignment Agreement; if the Assignee has submitted invalid or inaccurate information to TWINO; if the Assignee has used or is using the Website for illicit purposes; if TWINO suspects that the Assignee has used or is using criminal proceeds to purchase the Claim or finance terrorism, or if the Assignee is involved in such activities; if the Assignee tries to contact the Borrower in relation to the Loan Agreement, Assignment Agreement or Servicing of the Claim TWINO may unilaterally terminate this Agreement by sending notification of such at least 10 (ten) days prior to termination to the Investor If TWINO has used its right of repurchase, the Assignment Agreement shall be deemed terminated after TWINO pays the amount stipulated in clause 8.3 of the Assignment Agreement for the repurchase of the Claim to the Assignee s (Investor s) account. 12. Other conditions LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 13

14 12.1. The Assignment Agreement is made electronically in accordance with the procedure provided by the Loan Assignment, and is valid without signatures of the Parties TWINO shall send this Assignment Agreement to the Assignee by to the Investor s profile, where it will be available for the Assignee throughout the period of the Assignment Agreement This Assignment Agreement is valid until fulfillment of the relevant liabilities stipulated herein All legal relations resulting from this Assignment Agreement shall be regulated by the regulations of the Republic of Latvia Disputes among the Parties, resulting from this Agreement shall be settled in the court in compliance with the procedure provided for by the regulations of the Republic of Latvia. LLC TWINO Reg.no Mūkusalas iela 41, Rīga, LV-1004, info@twino.eu 14

15 ASSIGNMENT AGREEMENT No Assignor and Assignee s name and contact information Assignor Company name: LLC TWINO Registration No.: Legal address: Mūkusalas Street 41, Riga, LV info@twino.eu Phone: Assignee Company name/ Name, surname: Registration No./ Personal code: Legal address / Declared address: Phone: Home page: PRINCIPAL CONDITIONS OF THE ASSIGNMENT AGREEMENT 1. Assignee s (Investor s) identification number: 2. Loan agreement No.: 3. Amount of the claim: 3.1. the outstanding amount in full or in part purchased by the Investor; 3.2. Loan maturity date; 3.3. Loan interest rate; 4. Total amount of the claim at the time of entering into the Assignment Agreement: 0.00 EUR % 0.00 EUR 5. Price of the claim: 0.00 EUR

16 GENERAL PROVISIONS OF THE ASSIGNMENT AGREEMENT 1. Used terms and definitions Loan agreement - A remote access agreement on provision of the Loan to the Borrower, entered into by the Borrower and the Lender in accordance with the provisions of the Loan Agreement. Loan - Funds granted to the Borrower by the Lender in accordance with the Loan Agreement. Lender - A legal entity that grants the Loan to the Borrower based on the Loan Agreement. Borrower - An individual that enters into the Loan Agreement with the Lender. Borrower s personal data - Any information relating to the Borrower. Assignor - The Creditor that transfers a right to claim (Claim) against the Borrower, resulting from the Loan Agreement, to the Assignee. Assignor s bank account Any current account opened in the name of the Assignor with a credit establishment registered in Latvia, or a branch of a foreign credit establishment in Latvia, or any other EU credit establishment. Assignment Agreement (this Agreement, hereinafter An agreement entered into by the Assignor and the Assignee, providing that the

17 referred as the Assignment Agreement) - Assignor transfers the Claim against the Borrower to the Assignee. Assignee s bank account - Any current account opened in the name of the Assignee with a credit establishment registered in Latvia, or a branch of a foreign credit establishment in Latvia, or any other EU credit establishment. Assignee - An individual or legal entity who has purchased the right to Claim against the Borrower Price list - The payments, as stipulated on the Web, page which that shall be paid by the Investor to TWINO for the Servicing of the Claim and other actions taken by TWINO. Investor s bank account - Any current account opened in the name of the Investor with a credit establishment registered in Latvia, or a branch of a foreign credit establishment in Latvia, or any other EU credit establishment. Investor - An individual registered on the Web page and interested in the purchase of the Claims against the Borrower on the Web page, including the individual who has purchased the Claim, or the Assignee, and the individual who has sold the Claim or the Assignor. Investor s account - An individual account created and maintained by TWINO for each Investor in the Investor s profile on the Web page which allows for the entering into and fulfillment of the Agreement and the Assignment Agreement.

18 Investor s profile - An individual s or legal entity s work platform registered on the Web page and accessible to the Investor as a result of the Investor s registration with the Web page, after the Investor has logged into the Web page, stipulating his address and password. Creditor - An individual or a legal entity that has the right to claim against the Borrower in accordance with the Loan Agreement in full or in any part. Party/-ies - Assignor and/or Assignee. Regulations for the use of the Web page - Regulations for the use of the Web Page set forth in this Agreement and on the Web Page to be observed by each Investor, when registering with and using the Web Page, purchasing the Claim and entering into the Assignment Agreement. Agreement for the use of the Website (hereinafter called the Agreement) - The remote access agreement between Twino and the Investor for the procedure for the use of the Web Page and the Investor s profile, to be entered into by Twino and the Investor in accordance with the Agreement and the Regulations for the use of the Web Page. Web page - The Lender s Web Page at where individuals may register as Investors and create an Investor s profile, and where all information needed in order to receive the Loan is stipulated. Servicing of the Claim - Totality of actions taken by TWINO in relation to the sale of the Claim, entering into the Assignment Agreement, collection of the amount of the Claim, transfer of funds to the Assignee, or other actions stipulated on the Web page.

19 Price of Servicing of the Claim - The price stipulated in the Price List on the Lender s Web Page to be paid to the Lender for Servicing of the Claim. Price of the Claim - Price to be paid by the Assignee to the Assignor for the Claim or part of the Claim. The Price of the Claim is stipulated in the principal conditions of the Assignment Agreement. Claim - The Claim against the Borrower, or its part, stipulated in the Assignment Agreement that resulting from the Assignment Agreement. The amount of the Claim is stipulated in the principal conditions of the Assignment Agreement. Interest - The remuneration for the use of the amount of the Loan stipulated in the Assignment Agreement included in the Claim. The Interest is calculated based upon the claimed remaining outstanding principal amount of the Loan, and the Borrower shall calculate these amounts in accordance with the provisions of the Loan and the Loan Schedule, which form an integral part of the Loan. Registration application - An application filled in by an individual or legal entity on the Web page to register as an Investor. Third person - Any individual or legal entity that is not a party to this Agreement. TWINO - LLC TWINO, unified registration No , legal address: Mūkusalas Street 41, Riga, LV-1004, which ensures sale of the Claim against the Borrower,

20 entering into the Assignment Agreement and Servicing of the Claim. TWINO s bank account - LLC TWINO, unified registration No , legal address: Mūkusalas Street 41, Riga, LV-1004, the bank account stipulated on the Web page. 2. Interpretation of the Assignment Agreement 2.1. In this Assignment Agreement, if a context so requires, the singular shall mean plural and vice versa Any gender in this Assignment Agreement shall mean another gender For the purposes of this Assignment Agreement, it is presumed that the words includes or including are followed by the phrase but not limited to The headings and clauses are provided in order to facilitate the work and do not affect clarification of the Assignment Agreement This Assignment Agreement is a document discussed by both Parties, and the Parties understand and accept its clauses to the fullest extent, and when interpreting this Agreement, no Party shall have any advantages or disadvantages due to the fact that one of them was or could be responsible for preparation of the Agreement or any of its part. 3. Scope of the Assignment Agreement and the procedure for its conclusion 3.1. In accordance with this Assignment Agreement, the Assignor shall assign to the Assignee a Claim against the Borrower that results from the Loan Agreement subject to conditions of this Assignment Agreement for the price of the Claim provided by the Assignment Agreement The Lender confirms that the Loan has been granted to the Borrower based on the conditions of the Loan Agreement and received by the Borrower The Assignee confirms that he has read and understood the provisions of the Assignment Agreement containing the grounds of the Claim and shall not submit any other claims against the Borrower, Assignor or TWINO in this

21 respect In accordance with this Agreement, the Assignee does not undertake any liabilities or obligations to the Borrower himself that may result from this Assignment Agreement or Loan Agreement The right to claim shall be transferred from the Assignor to the Assignee at the moment when the Assignee has paid to the Assignor the relevant Price of the Claim in full The Parties agree that amount of the interest calculated for the Borrower and unpaid by the Borrower shall not be transferred from the Assignor to the Assignee at the moment of entering into the Agreement. Forfeit fine of the late payment shall not be transferred from the Assignor to the Assignee Simultaneously with this Assignment Agreement, the Assignee hereby authorizes the Lender at its discretion to make any amendments and supplements to this Assignment Agreement without prior coordination with the Assignee, including an extension of the Loan repayment period, but no more than 6 (six) times, stating that each of the 6 (six) Loan repayment periods may not be longer than 30 (thirty) days. The Assignee also stands informed that the aforementioned authorization of the Lender is in force for the duration of the Assignment Agreement, and in this regard the actions taken by the Lender are binding for the Assignee The Parties agree that the Claim against the Borrower shall be transferred to the Assignee only in the amount agreed by the Parties in the principal conditions of the Assignment Agreement If the Assignee purchased the Claim that results from the Loan Agreement in part only, the Assignee is informed and agrees that the Claim does not include all the Assignor s claims against the Borrower If the Assignee purchased the Claim that results from the Loan Agreement in part only, the Assignee is informed and acknowledges that, in this case, the Assignee is not the Borrower s sole Lender (Assignee), and all payments received from the Borrower are distributed in proportion between all Lenders (Assignees) By entering into this Assignment Agreement, the Assignee confirms that he has familiarized himself with and accepts the Assignment Agreement and Regulations for the Use of the Web page The Assignee confirms that he understands the rights and obligations resulting from the Assignment Agreement, and that the provisions of the Assignment Agreement correspond to the Assignee s will The Assignment Agreement shall be deemed as concluded and shall come into force when the Assignee confirms the Assignment Agreement on his

22 Investor s profile on the Web page, and when the Price of the Claim is transferred to the Assignee from the Assignee s (Investor s) account The Assignor confirms that, at the time of entering into the Assignment Agreement, he is capable and not under the influence of alcohol, drugs and/or any other psychotropic substances The laws of the Republic of Latvia, regulations of the Cabinet of Ministers or any other regulations binding upon the Parties or the Borrower and decisions or instructions made by the municipalities are binding upon the Parties, and this Assignment Agreement shall be amended in accordance with new regulations, decisions and instructions The Assignee confirms that he understands and agrees that, if the laws of the Republic of Latvia, regulations of the Cabinet of Ministers or any other governmental or municipal regulations or decisions or instructions provide for any obligations to make amendments to the Loan Agreement, the Lender shall be entitled to make amendments to the Loan Agreement subject to at least 5 (five) days prior notification of the Assignee bound be such amendments made by the Lender. 4. Procedure for payment 4.1. The Price of the Claim for which the Assignee purchases the Claim shall be agreed by the Parties before the entering into this Assignment Agreement, and this is stipulated in the principal conditions of the Assignment Agreement The Assignee shall pay the Price of the Claim simultaneously with the conclusion of the Assignment Agreement and approval of the conditions of the Assignment Agreement Simultaneously with the conclusion of this Assignment Agreement, the Assignee shall authorize TWINO to withdraw the required amount for the Claim (Price of the Claim) from the Assignee s (Investor s) account As soon as the Assignee has agreed to purchase the Claim and confirmed the provisions of the Assignment Agreement, TWINO shall transfer the Price of the Claim from the Assignee s (Investor s) account to the Assignor s bank account or Assignor s (Investor s) account The Claim is deemed paid at the moment when the Price of the Claim is credited to the Assignor s bank account or Assignor s (Investor s) account The Assignee obtains a right to Claim at the time of entering into this agreement, when the Price of the Claim is transferred from the Assignee s (Investor s) account to the Assignor s bank account or Assignor s (Investor s) account.

23 5. Authorisation for Servicing of the claim 5.1. Hereby, the Assignee simultaneously authorises the Lender to do the following: to amend and/or enter into an additional agreement to the Loan Agreement; on behalf and in the interests of the Assignee against the Borrower to use all rights and powers assigned under this Assignment Agreement in the name of the Assignee, by asking the Lender to act on his own behalf but in the interests of the Assignee to manage the Claim in all aspects and take all actions required relating to the repayment of the Loan and fulfilment of the Loan Agreement, until the Loan is repaid in full and the Claim is discharged in full, but in case of Loan repayment delay, to repurchase the Claim, in accordance with the regulations set forth in the Assignment Agreement from the Assignee and to transfer the Claim back to the Lender for debt recovery from the Borrower, but in case debt recovery is improbable to sell the Claim to any third party at any price and transfer the resulting money to the Assignee As the Assignee has authorised the Lender to Service the Claim in accordance with the provisions of clause 68 of the Regulations of the Cabinet of Ministers No. 1219, dated 28th December 2010, Regulations for consumer crediting, the Parties agree that they do not have to notify the Borrower when entering into the Assignment Agreement During the entire period of the Assignment Agreement, the Lender acts with due care and to ensure representation and protection of the Assignee s interests The Assignee s authorisation specified in the Assignment Agreement is applicable to all and any the Lender s employees and authorised representatives Along with conclusion of the Assignment Agreement, the Lender is granted with the power of attorney, providing for authorisations, valid throughout the validity period of the Assignment Agreement The Parties agree that before the Claim is discharged in full, the Assignee shall not cancel the authorisation to manage the Claim and Service the Claim issued by the Lender If the Assignee cancels the power of attorney issued to the Lender, TWINO shall be entitled to use its right to repurchase the Right to Claim in accordance with the procedure provided for by the Assignment Agreement.

24 5.8. Hereby, the Assignee simultaneously authorises TWINO to do the following: to transfer the price of the claim from the Assignee s (Investor s) account to the Assignor s account or Assignor s bank account; to distribute the payments among all Assignees who have valid rights to claim against the Borrower at the moment of receipt of the payment and to transfer them to the Assignee s (Investor s) account; to deduct all payments relating to this Assignment Agreement in accordance with the Price List; at any time, to terminate this Assignment Agreement, by repurchasing the Claim from the Assignor and paying the amount stipulated in clause 8.3 of the Assignment Agreement for the repurchase of the Claim to the Assignee s (Investor s) account. 6. Assignor s representations, rights and obligations 6.1. The Assignor confirms that he has not transferred or pledged to third parties or otherwise encumbered the Claim transferred to the Assignee The Assignor shall be responsible to the Assignee for the validity of the transferred Claim The Assignor shall notify the Assignee on the circumstances that affect or may affect fulfillment of the Assignment Agreement on the part of the Assignor The Assignor shall not be responsible for any delay by the Borrower of the terms for repayment provided by the Assignment Agreement The Assignor shall not be responsible for the Investor or Assignee or their liabilities and successors or heirs or any other third party if the Assignment Agreement is not fulfilled on the part of the Borrower in full or in part, and the Claim is not repaid and cancelled. 7. Assignee s representations, rights and obligations 7.1. The Assignee shall comply with all provisions of this Assignment Agreement during the entire period of the Assignment Agreement The Assignee shall pay TWINO for the Servicing of the Claim and make other payments in accordance with the Price List If the laws of the Republic of Latvia, regulations of the Cabinet of Ministers or any other regulations binding upon the Parties or the Borrower and decisions or instructions made by the municipalities affect this Assignment Agreement, certain Parties rights and/or obligations, the Assignee shall agree to the

25 amendment of this Assignment Agreement in accordance with the new regulations, decisions and instructions If the laws of the Republic of Latvia, regulations of the Cabinet of Ministers or any other governmental or municipal regulations or decisions or instructions provide for an obligation to make amendments to the Loan Agreement, the Assignee shall accept the relevant amendments to the Assignment Agreement The Assignee shall not cancel the authorization to manage the Claim and Service the Claim issued by TWINO. 8. Servicing of the Claim and procedure for payments 8.1. In accordance with the powers of attorney issued in accordance with this Assignment Agreement, TWINO ensures Servicing of the Claim, accepts all payments resulting from the Assignment Agreement from the Borrower and makes payments to the Assignee in accordance with the procedure and for the amount provided for by this Assignment Agreement TWINO, Lender and Assignor shall not be responsible for any delay of payments provided for by this Assignment Agreement by the Borrower TWINO services all payments made by the Borrower in accordance with the provisions of the Loan Agreement and transfers to the Assignee all received payments in the following amount and order: The principal amount of the Loan received by TWINO from the Borrower shall be paid to the Assignee, and if the Assignor has not purchased the entire Claim against the Borrower or the Claim against the Borrower is purchased by several Assignees, the principal amount of the Loan is divided proportionally to each Assignee s Claim against the Borrower; The Interest and all incidental claims resulting from the Loan Agreement and relevant Claim received by TWINO from the Borrower shall be paid to the Assignee, and if the Assignor has not purchased the entire Claim against the Borrower or the Claim against the Borrower is purchased by several Assignees, the received payments are divided proportionally to each Assignee s Claim against the Borrower TWINO shall transfer payments received from the Borrower to the Assignee (Investor) to the Investor s account immediately after their receipt from the Borrower Prior to transfer of the payments received from the Borrower to the Investor s account, TWINO is entitled to withhold the Price of Servicing the Claim and other payments in accordance with the Price List found on the Web page.

26 8.6. The Assignee is notified and agrees that in accordance with the provision of the Loan Agreement, the Borrower may repay the Loan before the term defined in the Loan Agreement If the Borrower repays the Loan earlier than the date stated, TWINO shall transfer the Assignee s relevant part of the Claim to the Assignee (Investor) to the Investor s account, withholding the Price of Servicing the Claim and other payments in accordance with the Price List If the Borrower repays the Loan earlier than the date stated, the Assignee shall not submit any claims damages from the Borrower, Assignor or TWINO, including the loss of profit The Assignee is notified and agrees that neither TWINO, the Borrower nor Assignor is responsible for fulfillment of the Borrower s liabilities in accordance with the Loan Agreement This Assignment Agreement also authorizes Lender to settle all matters and take all necessary actions relating to the collection of the Claim, including but not limited to taking extrajudicial actions aimed at collecting the Claim, and to prepare and send all types of claims, applications, explanations and other correspondence, for representation in all establishments and institutions of the Republic of Latvia, all courts whenever needed in relation to the collection of the debt and all related incidental claims with all rights provided by the civil and criminal laws of the Republic of Latvia for the participants of the case, including but not limited to submitting explanations; filing claims, counter claims, and applications; refusing claims and applications; filing evidences and explanations; challenging court decisions and judgments; submitting executive documents for collection; submitting and receiving all applications, references, pleas, decisions, and opinions at all establishments; making all necessary payments; and to fulfilling all necessary formalities relating to the performance of this power of attorney in relation to the above. 9. TWINO s right of repurchase 9.1. In case the Borrower has failed to repay the Loan for more than 45 (forty five) days, with this Assignment Agreement the Assignee authorizes Twino, and allows for the right of repurchase from the Assignee the Claim for EUR 0.01 (zero euro and one cent) and to transfer the Claim back to the Lender for debt recovery from the Borrower and/or sell the Claim at any price to any third party. In case of debt collection or sale of the Claim, the recovered amount of the Claim shall be transferred to the Investor, first repaying the Investor the principal amount of the Claim, and only after that any interest/commission due to the Investor, taking into account the ratio between the Lenders claim against the Borrower and the Investors claim against the Borrower.