Download Category: General Terms and Conditions for Unsecured Personal Loans

Subject to any other Agreement made in writing between the Bank and the Borrower, the relationship between the Bank and the Borrower shall be governed by the following Terms and Conditions for the Workplace Personal Unsecured Lending (the “Terms and Conditions”). These Terms and Conditions shall be subject to the I&M General Terms & Conditions and in the event of any inconsistency between the provisions of these Terms and Conditions and any provision of the I&M Bank General Terms & Conditions, the I&M Bank General Terms & Conditions shall govern, control, and prevail.

The Bank may without notice utilise any credit balance in any Account you hold with the Bank (whether current, loan, savings, time deposit or any other type of account or in the account of any other person for whom you have agreed to act as surety) to pay any Debt due under this Agreement. This right of Set-Off shall be in addition to, and shall not impair or affect, any of the Bank’s other rights of recovery.

The whole amount of the Facility shall be used only for the purpose set out in the loan application. The Bank shall have the right to demand immediate payment of any amount of the Facility outstanding, together with interest, if it shall come to the notice of the Bank that the whole or any part of the Facility has been or is being expended for any other purpose.

(a) Salary to continue being remitted through I&M Bank Ltd. (b) Repayments to be effected by way of check -off and the Authorization forms to be forwarded to the employer for deductions to be effected immediately after disbursement. (c) Terminal dues, if any, to be remitted through the loan account in the event the borrower leaves current employment during the tenor of the loan. (d) Loan to be repaid within agreed period and, if there is change of employer, I&M Bank Ltd to be notified immediately. (e) Borrower to provide the latest three original pay slips to be lodged with I&M Bank Ltd. (f) Balance outstanding to be liquidated from the proceeds of this loan. (g) The balance outstanding of the buy off loan will be released first to enable the said Bank/Institution to issue a stop order in respect of the borrower’s loan instalment. The balance of the loan will only be released to the borrower upon receipt of either a stop order or a statement confirming nil balance. (h) The Bank shall not be obliged to make any disbursement of the Facility(ies) until it has received as a condition precedent, in each case, in a form and substance satisfactory to it all of the documents, items and evidence required herein (including but not limited to the documents, items and evidence specified in the Borrower’s application form) such documents, items and evidence herein after collectively referred to as the “Supporting Documents”) (or the Bank having waived any one or more of the Supporting Documents in its absolute discretion and subject to any condition(s) it may think fit). (i) No indulgence by the Bank of its rights under this Agreement, the Schedule, any of the Supporting Documents will operate as a waiver of its rights and/or remedies. (j) The Bank’s obligation to make any disbursement of the Facility(ies) is also conditional upon the Borrower’s compliance at the relevant time with the terms and conditions of, and there being no breach of or default under the Agreement. (k) “Upon sanction of Loan amount following successful application, Loan facility will be disbursed immediately to the specified transaction account as per application form and interest will start accruing from that date. (l) The signature and the delivery of this Letter of Offer by the Borrower is deemed conclusive evidence of the Borrower’s Agreement to be bound by the terms of the facility as to the amounts of the facility and interest as approved and determined by the Bank.

All amounts drawn and outstanding under the Facilities and all interest and other sums payable in respect of the Facilities shall be due and payable at any time forthwith on demand. However, without prejudice to the Bank’s right to make demand at any time, it is agreed that:- The maximum amount that will be available for draw down under the proposed Facility shall not exceed the aggregate of Kshs……….. /= (Kshs …………………………. Only) The Facility will be repaid by your income in equal monthly Instalments comprising of both principal and interest until the Facility is repaid in full. The repayments due from the borrower will be effected through Direct debit/Standing Order effected through the Borrower’s account. The Borrower hereby irrevocably authorises the Bank to effect the Direct debit/Standing Order. (The repayments are as set out in the annexed loan amortisation table) The Bank may without notice utilise any credit balance in any Account you hold with the Bank (whether current, loan, savings, time deposit or any other type of account or in the account of any other person for whom you have agreed to act as surety) to pay any Debt due under this Agreement. This right of Set-Off shall be in addition to, and shall not impair or affect, any of the Bank’s other rights of recovery.

The following charges shall apply and may from time to time be subject to change upon notice within the full extent permitted or demanded by law

Charge Description	Charges
Interest rate on loan amount	Interest under clause 4 shall apply to the Facility(ies) provided that no Event of Default has occurred on the said Facility(ies) and
	subject to Paragraph 2 of Schedule 2 (Interest on Excess and Arrears). The provisions with respect to Interest on Excess and Arrears
	set out in Paragraph 2 of Schedule 2 (Interest on Excess and Arrears) shall apply in the Event of Default as defined in this letter.
	Interest on the facility shall be paid at such rate or rates not exceeding any maximum permitted by law
	or such other rate as the Bank may determine in its absolute and sole discretion from time to time
	(with the revision of S.33B of the Banking Act vide the Finance Act (2019), the Bank is in
	the process of formulating a Base Rate applicable to our lending products upon which the terms herein shall be revised accordingly
	subject to issuance of the relevant notices)

(a) Without prejudice to the provisions of Events of Default (as defined in this Agreement) and the rights of the Bank hereunder, if at any time during the continuance of the Facility(ies), the amount drawn by the Borrower from the Bank is in excess of the Facility(ies) committed by the Bank under the Agreement and/or if any sum payable by the Borrower under the Agreement is not paid on the date on which it is due in accordance with the provisions of the Agreement and whether demand has been made or not on the Borrower and whether notice has been given or not to the Borrower to repay the same, the Borrower shall pay to the Bank interest on such excess/arrears for the period during which the account is in excess/arrears at the rate of ten per cent (10%) per annum over the then subsisting rate of interest payable by the Borrower on the Facility(ies) . The Bank may by notice change this rate of interest so payable, and any such change will not prejudice in any way the Banks right to require payment of such interest when due. The Borrower acknowledges and agrees that any amounts in excess and arrears do not form part of Credit Facility(ies) (as defined under the Banking Act) and that the aforesaid rate of interest represents a reasonable pre-estimate of the loss to be suffered by the Bank in funding the default on the Borrower’s part. (b) If any sum payable by the Borrower hereunder is not paid on the date on which it is due in accordance with the provisions of the Agreement, and demand having been made, the Bank demands repayment of the same, or if any sum due and payable by the Borrower under any judgment of any Court in this connection, is not paid on the date of such judgment, the Borrower shall pay additional interest on such sum for the period beginning on such due date or, as the case may be, the date of such judgment until payment is received by the Bank in full at the rate of ten per cent (10%) per annum over the then subsisting rate of interest payable by the Borrower on the Facility(ies). The Bank may by notice change this rate of interest so payable, and any such change will not prejudice in any way the Banks right to require payment of such interest when due.

(a) The Borrower shall pay to the Bank and shall fully indemnify and reimburse upon demand all costs, charges and expenses (including legal and other professional expenses, stamp, registration or other duties and any VAT) incurred by the Bank in connection with the preparation and execution of, the obtaining of any documents required under, and the enforcement of, or preservation of any rights under this Agreement or otherwise in connection with the Facility(ies). Failure to pay these amounts on their due dates or on demand date as applicable, the Bank reserves the right to debit the same together with any interest accrued on the amounts from the Borrower’s account. (b) The Borrower shall be required to deposit on or before the approval date an appropriate amount in the account for the purpose of meeting preliminary cost and expenses. In the event that there are insufficient funds in the Borrower’s account, the Bank reserves the right to deduct these costs and expenses from the loan amount and credit the Borrower’s account with the net loan proceeds.

(a) All payments by the Borrower hereunder shall be made, without set off or counterclaim, by the Borrower, to such account as the Bank may from time to time notify to the Borrower. (b) Without prejudice to the Bank’s rights to require payment or otherwise recover amounts due hereunder from the Borrower, the Bank may debit any amount due hereunder to any current or other account of the Borrower maintained with the Bank, notwithstanding that the maximum amount permitted to be outstanding in respect of such account may be exceeded. Thereafter the amount so debited shall be treated as owing on the terms of such current or other account for all purposes. (c) All payments due to be made by the Borrower hereunder, whether of principal, interest or otherwise, shall be made without regard to any equities between the Borrower and the Bank and free and clear of, and without deduction or withholding for, or on account of, any taxes, except to the extent the Borrower is required by law to deduct or withhold any taxes on any amounts payable hereunder, in which case the Borrower shall promptly pay to the Bank such additional amount as is necessary to ensure that the net amount received by the Bank after the required deduction or withholding(including, without limitation, any required deduction or withholding on such additional amount)is equal to the amount that the Bank would have received had such deduction or withholding been made. The Borrower will furnish the Bank within one month after the relevant payment is made with an official receipt of the relevant taxation authorities evidencing payment of any taxes. In the event of failure to provide the receipts within one month as provided for herein, the Bank reserves the right to debit the amounts so deducted from the Borrower’s account. (d)If any payment under this Agreement would otherwise be due to be made on a day which is not a business day, it shall be made on the next succeeding business day, unless such Business day falls in the following calendar month, in which event it shall be made on the immediately preceding business day. (e) The Borrower hereby agrees that the Bank may at any time without notice or further demand. Notwithstanding any settlement of account or other matter whatsoever, combine or consolidate all or any of the Borrower’s then existing accounts wherever situate including any accounts in the name of the Bank or of the Borrower jointly with others(whether current, deposit, loan or of any other nature whatsoever whether subject to notice or not and whether Kenya shillings or in other foreign currency and set off or transfer any sum standing to the credit of any one or more such accounts in or towards satisfaction of any obligations or liabilities of the Borrower to the Bank whether such liabilities be present, future, actual, contingent, primary, collateral, several or joint. For this purpose, the Borrower hereby irrevocably authorizes the Bank to purchase with the moneys standing to credit of such accounts such currencies as may be necessary to effect such set off or transfer at the exchange rate. The above clause provides the bank the right to consolidate and the right to set off accounts, wherever situate, belonging to the debtor in repayment of the banks debts. (f) All interest and other payments of a periodic nature under this Agreement shall accrue from day to day and be calculated on the basis of actual days elapsed and 365day year (or such other day count as the Bank decides has become market practice)

(a) Pursuant to an amendment to the Insurance Act Cap 487, the Borrower is hereby informed of their rights under S. 71A (I) of the said Act of their right to choose an Underwriter or Broker from the list of Underwriters of Brokers licensed by the Insurance Regulatory Authority (IRA) and the option to forfeit the right to choose an Underwriter or Broker(s) licensed by the IRA . (b) In consideration of clause (a) above, the Borrower hereby forfeits the right to choose an underwriter or Broker(s) licensed by the IRA. (c) The Bank may require the Borrower(s) to take insurance cover to cover death and or disability through the Bank’s approved insurance plan. The Bank may enter into separate arrangements with insurers to cover the risk. (d) The Borrower undertakes to pay the insurance premiums stipulated by the Bank from time to time); and (e) The Borrower also understands and accepts that in the event of default on the facility(ies) or delay in payment of the insurance premiums, the insurance may not be valid and the Borrower will continue to be liable for repayment of all monies due to the Bank (f) The Borrower also understands and accepts that not all types of disability or death may be covered by insurance. The Borrower will continue to be liable for any shortfall in the amount received from the insurers. (g) The Borrower shall give written notice to the Bank within 48 hours of any occurrence which gives rise, or might give rise, to a claim under the policy of insurance and except with the prior written consent of the Bank, the Borrower shall not agree to settlement of any such claim. (h) All proceeds received by the Bank in respect of any claim made under the insurance will be applied by the Bank in repayments of the facility. Any surplus after such application will be paid to the Borrower’s account

(a) The Bank may at its sole discretion, if the Borrower so requests grant from time to time part or all the Facility(ies) in other currency and/or currencies within the available limits at the Bank’s prevailing rate of exchange. (b) By availing the Facility(ies) in any foreign currency the Borrower automatically grants to the Bank the right to convert the foreign currency denominated debt or part thereof into Kenya Shillings whenever the Bank may choose to do so in its sole and absolute discretion. No payment to the Bank (whether under any judgement or court order or otherwise) shall discharge the obligation of the liability of the Borrower in respect of which it was made unless and until the Bank shall have received payment in full in the currency in which such obligation or liability was incurred and to the extent that the amount of any such payments shall on actual conversion into such currency fall short of such obligation or liability (actual or contingent) expressed in that currency the Bank shall have a further separate cause of action against the Borrower and shall be entitled to recover the amount of the shortfall from the Borrower as a debt due in respect of the Facility(ies). (c) All amounts due and owing by the Borrower to the Bank shall be paid to the Bank in the currency in which they are outstanding and interest on such amounts shall also be paid in the currency in which the principal amounts are outstanding in freely transferable and convertible funds. (d) All moneys received or held by the Bank or may from time to time after demand has been made by the Bank be converted into such other currency as the Bank considers necessary or desirable to cover the obligations and liabilities actual or contingent of the Borrower in that other currency at the then prevailing spot rate of exchange of the Bank (as conclusively determined by the Bank) for purchasing that other currency with the existing currency. (where applicable) (e) If and to the extent that the Borrower fails to pay the amount due on demand the Bank may in its absolute discretion without notice to the Borrower purchase at any time thereafter so much of any currency as the Bank considers necessary or desirable to cover the obligations and liabilities of the Borrower in such currency at the then prevailing spot rate of exchange of the Bank (as conclusively determined by the Bank) for purchasing such currency with Kenya Shillings and the Borrower hereby agrees to indemnify the Bank against the full Kenya Shilling cost incurred by the Bank for such purchase. (f) Neither the Bank nor any Receiver shall be liable to the Borrower for any loss resulting from any fluctuation in exchange rates before or after the exercise of the foregoing powers. (g) No payment to the Bank (whether under any judgment or court order or otherwise) shall discharge the obligation or liability of the Borrower in respect of which it was made unless and until the Bank shall have received payment in full in the currency in which such obligation or liability was incurred and to the extent that the amount of any such payment shall on actual conversion into such currency fall short of such obligation or liability actual or contingent expressed in that currency the Bank shall have a further separate cause of action against the Borrower and shall be entitled to enforce the charges by the existing security and hereby created to recover the amount of the short fall.

The Borrower represents and warrants to the Bank as follows:- (a) Every consent, authorization or approval of governmental or public bodies or authorities required in connection with the execution, delivery, validity or enforceability of this Agreement or the performance by the Borrower of its obligations hereunder or required to make this Agreement admissible in evidence has, where applicable, been obtained and is in full force and effect. (b) Neither the execution and delivery of the form of acceptance indorsed hereon by the Borrower nor the performance or observance of any of its obligations under this Agreement will conflict with, or result in, any breach of any law, statute, regulation, indenture, mortgage, trust deed, Agreement or other instrument, arrangement, obligation or duty by which the Borrower is bound or cause, where applicable, any limitation on any of the powers whatsoever of the Borrower howsoever imposed or on the right or ability of the Borrower to exercise such powers to be exceeded. (c) All information submitted by the Borrower to the Bank, inter alia, on its financial position, net worth, details of Financial Indebtedness, presents accurately its state of affairs and the financial position of the Borrower as at such date. (d) There has been no material adverse change in the financial position of the Borrower from that set forth in the application form and in the annexures thereto, submitted to the Bank requesting the Bank for the Facility(ies). (e) They have sought independent advice on the terms of this Agreement in order to fully understand the implications and potential consequence of agreeing to these terms. (f) As at the date of this Agreement, the Borrower does not have any Financial Indebtedness outstanding [other than the Existing Liabilities]. (g) The representations and warranties set forth in this Paragraph are given and made on and as of the date hereof, shall survive the acceptance of this Agreement and are continuing representations and warranties which are deemed to be repeated during continuance of the Facility(ies).

(a) The Borrower shall not, without the prior written consent of the Bank, incur or allow to remain outstanding any Financial Indebtedness. Financial Indebtedness for this purpose shall not include any credit received from suppliers to the Borrower in the ordinary course of business. (b) The Borrower will provide the Bank regularly with such information and in such form as may be required from time to time relating to the Borrower’s finances and operations. (c) The Borrower shall pay and discharge all Taxes imposed upon it or its assets within the time period allowed without incurring penalties. (d) The Borrower shall advise the Bank immediately of any change of Directors or any material or major happening that may affect the Borrower’s operations. This could include but not be restricted to changes in the share holding pattern, industrial or labour disputes, industrial or economic downturn, diversification plans, capital expenditure commitments, change in objectives and the like.

(a) No Failure, delay or other relaxation or indulgence on the part of the Bank to exercise any power right or remedy shall operate as a waiver thereof nor shall any single or partial exercise or waiver of any power, right, and remedy preclude its further exercise or the exercise of any other power right or remedy. (b) All monies payable by the Borrower under, the benefit of the covenants of the Borrower contained in, and all other rights of the Bank under, this Agreement shall be assignable and remain valid and effective in all respects in favour of any assignee, transferee, or other successor in title of the Bank in the same manner as if such assignee, transferee or other successor in title has been named in this Agreement as a party instead of or in addition to the Bank (c) The Bank may disclose to any proposed assignee or transferee or to its Holding Company, Subsidiary, or any Subsidiary of its Holding Company (whether or not they are proposed assignees or transferees) such information as is in its possession at any time relating to the Facilities or the Borrower. (d) Any change in the constitution of the Bank or its absorption in or amalgamation with any other person or the acquisition of all or part of its undertaking by any other person or any reconstruction or reorganization of the Bank shall not in any way prejudice or affect its rights under this Agreement. (e) Any right or power which may be exercised or any determination that may be made under this Agreement by the Bank may be exercised or made in its absolute and unfettered discretion and it shall not be obliged to give any reasons thereof. (f) A certificate by any officer or other duly authorized official of the Bank as to the money and liabilities for the time being due or accrued from or by the Borrower pursuant to any of the Facility Documents or the amount of any interest, commission or other sums owing pursuant to any of this Agreement shall save for manifest error be conclusive evidence of any legal proceedings. (g) The facilities availed by the Bank are subject to the Bank’s General Terms and Conditions unless varied or inconsistent with the terms of this Agreement. In the event of any inconsistency between the terms of this Agreement and any general terms and conditions of the Bank (whether in force currently or at any time after the date of this Agreement), the terms of this Agreement shall prevail. (h) All rights of the Bank contained in this Agreement are in addition to all rights vested or to be vested in the Bank pursuant to the common law or statute.

(a) The Borrower undertakes to ensure that it observes and perform all environmental laws (including without limitation the provisions of the Environmental Management and Coordination Act, 1999) the regulations, directions, and codes of practice and all covenants and stipulations from time to time and to diligently designs, constructs, operates, maintains and monitors all of its plants, sites and equipment in a safe, efficient and business-like manner. (b) The Borrower shall not perform any of the following activities: (i) Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and Agreements, or subject to international bans, such as pharmaceuticals, pesticides/herbicides, ozone depleting substances, polychlorinated biphenyls, a group of highly toxic chemicals, wildlife or products regulated under Convention on International Trade in Endangered Species or Wild Fauna and Flora. (ii) Production or trade in weapons and munitions. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations. (iii) Production or trade in alcoholic beverages (excluding beer and wine). This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations. (iv) Production or trade in tobacco. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations. (v) Gambling, casinos and equivalent enterprises. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations. (vi) Any business relating to pornography or prostitution. (vii) Production or trade in radioactive materials. (viii) Production or trade in unbonded asbestos fibers. This does not apply to purchase and use of bonded asbestos cement sheeting where the asbestos content is less than 20%. (c) The Borrower shall not perform any of the following activities: (i) Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and Agreements, or subject to international bans, such as pharmaceuticals, pesticides/herbicides, ozone depleting substances, polychlorinated biphenyls, a group of highly toxic chemicals, wildlife or products regulated under Convention on International Trade in Endangered Species or Wild Fauna and Flora. (ii) Production or trade in weapons and munitions. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations. (iii) Production or trade in alcoholic beverages (excluding beer and wine). This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations. (iv) Production or trade in tobacco. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations. (v) Gambling, casinos and equivalent enterprises. This does not apply to businesses which are not substantially involved in these activities i.e. the activity concerned is ancillary to the business’s primary operations. (vi) Any business relating to pornography or prostitution. (vii) Production or trade in radioactive materials. (viii) Production or trade in unbonded asbestos fibers. This does not apply to purchase and use of bonded asbestos cement sheeting where the asbestos content is less than 20%. (ix) Drift net fishing in the marine environment using nets in excess of 2.5 kilometers in length. (x) Production or activities involving harmful or exploitative forms of forced labor/harmful child labor. (xi) Commercial logging operations for use in primary tropical moist forest. (xii) Production or trade in wood or other forestry products other than from sustainably managed forests. (xiii) Production or activities involving harmful or exploitative forms of forced labor/harmful child labor. (xiv) Production or activities that impinge on the lands owned, or claimed under adjudication, by Indigenous peoples, without full documented consent of such peoples. (xv) Cross-border trade in waste and waste products unless compliant to the Basel Convention and the underlying regulations. (xvi) Any activity involving significant altercation, damage or removal of way critical cultural heritage. xvii) Production and distribution of racist, anti-democratic and/or neo-nazi media or media with the intent to discriminate part of the population. (xviii) Exploitation of diamond mines, and commercialization of diamonds, when the host country has not adhered to the Kimberley12, or other similar international Agreements (actual or to be formed), on similar extractive resources. (xix) Any sector or service subject to United Nations, European Union embargo without limitation. (xx) Coal-fired power plants when the production of energy is not in an Eligible Country as per CDC Coal-Fired Thermal Power Plants; and (xxi) Coal-fired power plants (including captive coal-fired power plants not producing electricity for the public gird) when representing more than 10% of I&M Bank Limited Kenya portfolio volume financing. (d) The Borrower shall notify promptly the Bank of any event(s) concerning the environment or occupational health and safety or social issues.

In the event of: - (a) Failure by the Borrower to make any repayment of principal or payment of interest or other moneys in respect of the Facility(ies) on its due date, or (b) A breach in the performance of any other term and condition of the Facility(ies) or The Bank’s General Terms & Conditions. (c) A liquidator, trustee, sequestrator or similar officer being appointed of all or any of the assets of the Borrower, or (d) A distress, execution or other legal process being levied against any of the assets of the Borrower and not being discharged or paid within 7 days, or (e) Any indebtedness of the Borrower becoming immediately due or payable or capable of being in default on the part of any person, or the Borrower failing to discharge any indebtedness on its due date, or Any representation or warranty made by the Borrower hereunder or for the purpose of obtaining the Facility(ies) being incorrect in any material respect as of the date of which it is made or deemed to be made, or there being any material adverse change of the position as set out in such representation of warranty, then the Bank’s commitment to advance the Facility(ies) or any balance thereof shall cease and the whole amount of the outstanding Facility(ies) and all accrued interest or other amounts owing hereunder will become repayable forthwith on demand in writing made by the Bank at any time. The Borrower shall also provide cash cover on demand for all contingent liabilities of the Borrower to the Bank and for all notes or bills accepted, endorsed or discounted and all bonds, guarantees, indemnities, documentary or other credits or any instruments whatsoever from time to time entered into by the Bank for or at the request of the Borrower. Any moneys not paid following a demand under this Paragraph shall continue to attract interest at the contracted rate as well after as before judgment or any Bankruptcy or liquidation of the Borrower.

(a) The Borrower hereby expressly consents and authorizes the Bank to disclose, respond, advise, exchange and communicate the details or information pertaining to the Borrower’s account(s) to other Banks, financial institutions, credit card companies, or credit reference bureaus, including authorized agents, representatives, lawyers or debt collection agents for the purposes of any bona fide enquiry or collection of any data or towards recovery of any sums due and outstanding to the Bank. (b) The Bank may from time to time release (without notifying the Borrower) any information relating to any of the Borrower’s account to any statutory authority which has legal power to demand for such information including the Central Bank of Kenya and Kenya Revenue Authority. (c) The Borrower acknowledges that any information released by the Bank under this clause may be used by the recipient to assess applications for credit by the Borrower or any related parties for bad debt tracing and for fraud prevention purposes. The Borrower also acknowledges that such information being released to the recipients may affect the Borrowers’ ability to maintain the existing Facility(ies) with lenders or credit card companies. The Borrower shall no claim whatsoever against the Bank for any loss, damage, fees or expenses suffered or incurred by the Borrower in relation to the release of any information by the Bank under this clause. (d) The Borrower expressly consents and allows the Bank to release the information provided under this clause in accordance with the terms of this clause.

The customer, by entering into this agreement, has consented to the provision of his personal data to the Bank. All personal data contained in the agreement shall be processed in accordance with the Bank’s Data Protection Policy and Privacy Notice on the protection of individuals with regard to the processing of personal data it and on the free movement of such data. Such data shall be processed solely in connection with the implementation and follow-up of the obligations in this agreement and without prejudice to the possibility of passing the data to the bodies responsible for inspection and audit in accordance with Data Protection Act, 2019 Laws of Kenya (Act No. 24 of 2019) and/or third parties who may be engaged by the Bank in the furtherance of its obligations. . The customer may, on written request, gain access to his personal data and correct any information that is inaccurate or incomplete.

The Borrower agrees not to disclose to any third parties any information provided by the Bank in connection with this offer, except to those legally required.

Each of the provisions of this Agreement is severable and distinct from the others and, if at any time one or more of those provisions is or becomes invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired.

(a) NOT directly or indirectly use the proceeds of the Facility(ies) for any purpose which would breach the Corrupt Practices Laws. (b) Not use any proceeds of crime to pay of the outstanding Facility(ies); (c) Conduct its businesses in compliance with applicable Corrupt Practices Laws. (d) Maintain policies and procedures designed to promote and achieve compliance with such laws.

This Facility(ies) Agreement shall be governed by and construed in all respects in accordance Laws of Kenya. Nothing in this Paragraph shall limit the right of the Bank to take proceedings against the Borrower in any other Court of competent jurisdiction, nor shall instituting of proceedings at one or more jurisdictions preclude the institution of proceedings in other jurisdiction, whether concurrently or not.

This Facility(ies) Agreement shall be governed by and construed in all respects in accordance Laws of Kenya. Nothing in this Paragraph shall limit the right of the Bank to take proceedings against the Borrower in any other Court of competent jurisdiction, nor shall instituting of proceedings at one or more jurisdictions preclude the institution of proceedings in other jurisdiction, whether concurrently or not.

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