PHAST

MONEY
294 Herbert Macaulay Way, Yaha, Lagos
loans@phastmoney com
www.phastrmoneyton
23A8121269636
Nov 18, 2021

Reference: Pure_Nature-718466
The Managing Director,

Pure Nature

1, oluwatoyin close, off Ishola bello, Akiode bustop, ojodu Berger, Lagos

Dear Abdulganiyu Danjuma,

LOAN AGREEMENT FOR CREDIL EACILITY

Further to your request for a credit faility, Linth Integrated Services Limited (the "Lender") is pleased to ottera

credit facility to you (the "Borrower") under the following terms and conditions.

Expected Effective Date 2021-11-23

Platformn PhastMoney
Lender Linth Integrated Services Limited, whose principal place of business is at 294
Herbert Macaulay Way, Yaba, Lagos.

Repayment Account Account Name: Linth Integrated Services Limited

Account Number: 0456457776

Bank: Guaranty Trust Bank

Domiciliation Account Account Name: Linth Integrated Services Limited/xxx

Account Number: xxxxxxxxxx (will be communicated shortly)
Bank: Guaranty Trust Bank

Other Stores profiled for the loan Pure Nature, Alexis Care

application

Borrower
Pure Nature, whose principal place of business is at 1, oluwatoyin close, off
Ishola bello, Akiode bustop, ojodu Berger, Lagos

Equated Instalments
Corporate Loan with Fixed
Facility Type
Business Expansion
Use of Funds Working Capital,
Naira ] Only
Loan Amount
Three Hundred Thousand Naira [N 300,000.00
6 months
Tenor

24.0% of Loan Amount, Equivalent

to Seventy Two Thousand Naira [N
Interest Amount
72,000.00 Naira ] Only.

0.75% of the Approved Amount

Processing Fee

Total Repayment Amount Three Hundred Seventy

Two Thousand Naira [ N 372,000.00 Naira] Only

Sixteen Thousand One Hundred Seventy Three Naira and Ninety One kobo [N
Minimum Installment Repayment
16,173.91 Naira ] Only

PhastMoney OSF- Loan Agreement

 PHAST
MONEY
294 Herbert Macaulay Way, Yaba, Lag

loans@phastmoney.com
www.phastmoney.com
2348121269636
Expected First Repayment Date 2021-12-07
Expected Maturity Date 2022-05-10
BVN of Authorized Signatories 22220952901
Securities platform
e-commerce
from
dDie Domiciliation of proceeds

Remita Direct Debit Mandate

Blank checks from a Corporate account

of Director (For LTD Companies) or
Blank checks from the personal account
or Partnership)
Business Owner / Partner (For Sole Proprietorship
or Business Owner/
Personal guarantee of Director (For LTD Companies)

Partner (For Sole Proprietorship or Partnership)

one-and-a-half time the value

of the
ire & Burglary Insurance for at least

Lender
as designated by
Total Repayment Amount with beneficiary
value of at least one-and-
Floating charge on the Borrower's inventory for a

a-half times the value of the Total Repayment

Amount (included in this

letter offer)

Transaction Dynamics

Amount to a bank account designated by the Borrower.

1. The lender will transfer the Loan
stated in the use of funds above
The borrower will use the funds as
2.
Amount and Interest Amount with fixed
the Borrower will repay the Loan
3 From the First Repayment Date,
Schedule (Appendix 1).
equated installments as per the Repayment

installment within three (5) business days of the due date shall be subject to
4. Any shortfall to the predetermined
defined at the discretion
of the Lender.
which are
late charges and interests,
Irrevocable Domiciliation
of proceeds from ALL stores profiled for the loan
The Borrower will grant an
5.
indirectly to the owner(s) TrOm any e-commerce platform and a Remita
or stores linked directly or
application
Remita Account beneficiar.
Direct Debit Mandate
to Linth Integrated Services
Ltd (Phast Money) as

comtort tne Lender, as well as the right to set-off securities

also grant a set of securities to
6. The Borrower will
including, but not
limited to, the set-off against the proceeds received

outstanding amount due

against any

from e-commerce platforms.

to repay to Lender
the Total Repayment Amount and anv etha.

Borrower promises
On or before Maturity,
.
be incurred.
charges that may

(including iegal rees) incurred by the Lender in connection with

will cover all costs and expenses
The Borrower
8. PhastMoney OSF - Loan Agreement
 PHAST
MONEY
294 Herbert Macaulay Way, Yaba, LOg
loans@phastmoney.com
www.phastmoney.com
2348121269636
this loan facility.
entering
t
any proceeding instituted by or against the of
Lender as a consequencuence

Covenants
outstanding thereon, it
are any
The Borrower undertakes that during the while there
validity of the facility, that is,
warrants that:

to authorize the same upon

1. Signatories have the right to accept this facility and have taken all necessary steps
the terms and conditions herein.
event of derauit
unaer existing
ptdnce ot this offer or any part thereof does not and will not constitute an

law or regulation.
and tax dues which
3. t is not in default under any obligation such as a supplier invoice. a lending facility, salaries,

would have a material adverse effect on the company's financial situation.

situation and
4. t shall communicate as early as possible to the Lender any material change in its financial

potential claims that could trigger insolvency.

not limited toa
It shall take on all necessary insurance to protect its inventory as may be needed, including but
Insurance.
Fire, Theft and Burglary
accounts held as well as the
6. It shall provide the Lender with a continuously updated list of all corporate

accounts.
Managing Director's personal
Use of Proceeds and purpose(s) they told the Lender of in their
7. The Loan will be used according to the

application for the loan.

such as Bank transfer form, cheque
or direct debit mandate, will be filled with true,
8. Repayment instruments,

accurate and complete information.

Events of Default

and cause all outstdnaing amounts under this facilitv to hecame

shall be considered a default
The foliowing events

immediately:
due and payable
Repayment.
meet the Minimum Installment
The Borrower fails to
avment of
of principal
principal or
or interest or other
other a
amounts
m a i n e . in
i respect of the
repayment or payment
The Borrower fails to make a

the date it was due to be paid.

loan on
including any covenants.
Loan including
of the Loan covenants given any by
and condition of the Borrower.
The Borrower breaches any term
3.
Borrower.
petition is filed
against the
4. Where a bankruptcy
within the meaning of
within the or Section. 11 of the
of
other party Bankruptcy
Where the Borrower is unable to pay any
5.
-
OSF- Loan Agreement
PhastMoney
 PHAS,
MONEY
294 Herbert Macaulay Way, Yaba, Lag
loans@phastmoney.com
www.phastmoney.com

2348121269636

der to continue to
Act(Cap 30) Laws of the Federation of Nigeria. Lender

inappropriate forthe
inappr
situation arises which in the opinion of the
Lender it is
b. Where a

or covenant
extend the facility to the Borrower. c o n d i t i o n

term,
other
observance ofany to the
Where the Borrower defaults in the performance
or been given
have
shall
notice
for ten days'
herein and such breach or default shall continue unremedied

Borroweer.

Lender's Set-Off Right

consolidate some
or all of
the Borrower s
(a) combine or
time with or without notice
1. n e Lender may at any the credit of any
transfer any sum
standing to
without any liability to the Lender and (b) set off and
accounts
Borrower owes to the Lender.
of any amount the
in full or partial payment
such account Lender to
or future right of the
addition and does not
amend or qualify any other present
2. This clause is in
Borrower's accounts
with it.
combine or set off the the right:
notified of a default, the
Borrower grants the Lender
of the Borrower being
3 After five (5) working days
Borrower's inventory without notice,
from the sale of
1. to pay this loan
Post-Dated and/or Blank Cheques or any other
Standing Order,
Direct Debit Mandate,
2. to activate the or
proceeds whether targeted at Borrower's corporate entity
fit to recover
means the Lender deems

Borrower' Directors, concurrently

targeted at and/or
amount due to
n e borrower on any of the stores owned
of any
outstanding debt
3. to set off an

E-Commerce platform.
B o r r o w e r on
the
linked to the
debt of any
amount aue at expected closing date
restructure the outstanding
closing date as dofaule6
4. to
at expected
amount outstanain8

charge 0.133% daily of any

5. to

Restructured Loan.
Outstanding a
Outstanding
amount ex
m o u n t at the expected closing date in the event

restructure
the total
right to
Lender has the
1. The

of default. terms.
restructured
on
will be informed by email
borrower
The
2. months.
exceed 3
restructured
tenor c a n not
3 The interest rate in th
same as the agreed
interest rate
will be the
restructured

4. The

Other Considerations

times to vary
the terms and
and conditions af
of conditions ti
the Offer Letter. Any such
the right at all
reserves
Lender
1 The
Agreement
PhastMoney
OSF - Loan
 PHAST
MONEY
294 Herbert Macaulay Way, Yaba, Lagos.
loans@phastmoney.com
www.phastmoney.com
2348121269636

Lender considers reasonable in

means the
variation will become effective upon notice to the Borrower by any

the circumstances.
arising of the loan, whether
2. he borrower consents irrevocably to any future transfer and assignment, however

as part of a loan transfer scheme or otherwise.

loan to third
he Borrower authorizes the Lender to disclose any information or documentation relating to the
3
parties including credit reference agencies, collection agencies as well as the borrower's employers (where the

by the borrower,
borrower is in salaried employment) in the event that the loan has ceased to be serviced

4. This Loan offer inures to and binds the heirs, successors, and assigns of Borrower.

5. If any provision of this Agreement, or the application of it to any party or circumstance, is held void, invalid, or

of
unenforceable by a court of competent jurisdiction, the remainder of this Agreement, and the application
such provision to other parties or circumstances, shall not be affected thereby, the provisions of this Agreement

being severable in any such instance.

Conditions Precedent to Drawdown

Borrower upon receipt by the Lender of the following:

The facility shall be available to the

from the date of this letter, failing which

Offer Letter signed within three (3) days
1. Signing and returning of this
without any liability or commitment on our part.
the offer shall lapse
Securities in the format requested by the Lender.
2. Submission of the
Resolution accepting the offer and nominating signatories
Submission of Board
3 For LTD Company only:
Seal of the company affixed on the signed offer letter.
its behalf and a Common
authorized to sign on

Signature #2

Signature #1 Partnership: Another partner

Business Owner For LTD Company: Director / Secretary
Sole Proprietorship:
Partnership: Partner

LTD Company: Director

Authorized
Pyedutyammm4
Signature 7
Name
AbdilGani Da0yme
Title

PhastMoney OSF - Loan Agreement