THIS LOAN AGREEMENT made on any day;
BETWEEN:
our customer an adult and a resident of Lagos, Nigeria known as the “BORROWER” which expression shall, where the context admits, includes borrower’s heirs, successors, assigns and personal representatives of this part;
AND
CAPITALWISE DYNAMIC PAY LTD. a private company limited by shares and incorporated and validly existing under the laws of Nigeria, with its business address at 29, Association Avenue, Ilupeju. Lagos State, Nigeria referred to as the “LENDER” which expression shall, where the context admits, includes its successors in titles and legal representatives of the other part.

I. THE LOAN
Following the review of Borrower’s application and information provided by the Borrower, the Lender hereby approves the grant of the loan in the sum of xxxxxx to the Borrower, and the Borrower hereby accepts the loan, subject to the terms and conditions set out in this agreement. It is hereby agreed that the lender shall have no obligation to disburse to the Borrower until the Borrower has provided information and documents required by the Lender for credit eligibility and Know Your Customer assessment.

II. TERM OF THE LOAN
The loan shall be for a term xxxxxx days/months from the signing date. Where the loan is not disbursed by the Lender to the Borrower on the signing date, the term of the loan shall be counted from Disbursement date.

III. INTEREST, FEES AND COSTS
Interest will be levied and be payable by the Borrower to the Lender in respect of the loan at the interest rate specified. The interest rate on the loan shall be xxxxx% monthly for the term of the loan. If any amount (including) payable by the Borrower under this Agreement is not paid on the due date the borrower shall, in addition to the Interest rate, pay default/accrued interest on all such amounts that are due and unpaid at the rate of xxx% per day/week/month and that additional interest shall accrue from the date on which the relevant payment became due until the date of actual payment of that amount by the Borrower. The borrower shall bear all legal costs and expenses that may be incurred by CAPITALWISE in connection with any enforcement action taken by CAPITALWISE for the recovery of the Loan.

IV. REPAYMENT STRUCTURE
The Borrower shall repay the loan in full on every due date together with interest, fees, and cost accrued thereon. If for any technical or administrative reason, the Borrower is unable to effect payment on the due date a default interest shall apply.

V. REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS
The Borrower hereby represents and warrants to the Lender as follows:
a) The party has read and understood all the provisions of this agreement
b) The party has the authority and capacity to execute this Agreement and to comply with his/her obligations under this Agreement.
c) This Agreement constitutes valid and binding obligations of the Borrower which are enforceable against him/her in accordance with these terms.

VI. REPRESENTATION OF THE LENDER
The Lender represents and warrants that the execution and delivery of this Agreement and the undertaking of the transactions contemplated herein have been duly authorized and will not result in a breach of any provisions of law or constitute default under, or a breach of violation of, any agreement or instrument to which the Lender is a party or by which it may be bound.

VII. EVENTS OF DEFAULT
If any event of default occurs and its continuing (whether it is voluntary or involuntary, or results from operation of law or otherwise), the Lender may, by notice to the Borrower, require the Borrower to repay the loan or such part of the loan as is specified in that notice. The Borrower waives any right he/she might have to further notice, presentment, demand or protest with respect to that demand for imminent payment.

All the following shall constitute an event of default under this Agreement
a) The Borrower fails to pay any sum due under this Agreement on the due date
b) The Borrower fails to comply with any of the obligations or undertakings expressed to be assumed by him/her under this Agreement
c) Any representation or warranty made in this Agreement or deemed to be made by the Borrower in connection or pursuant to this Agreement is found to be false or misleading
d) The Borrower is unable to pay his/her debts as they become due under this Agreement
e) Criminal proceedings are brought against Borrower, or the Borrower is under threat of imprisonment, forfeiture of property, or other sanctions. E.g. Lock up of shops/properties, conversion of seized properties to cash, Blacklisting under CBN default laws etc.
f) The Borrower does anything prejudice to CAPITALWISE’s rights under this Agreement or cause CAPITALWISE to suffer any loss whatsoever.