Terms of Use of CrossLend's Website for Borrowers and Investors

Welcome to the website www.crosslend.com (hereinafter referred to as "CrossLend Platform"). The website www.crosslend.com is operated by CrossLend GmbH, Kemperplatz 1, 10785 Berlin (hereinafter referred to as "CrossLend"). CrossLend makes technical services of the CrossLend Platform available to potential and active borrowers and investors ("Users").

With regards to the services offered under these Terms of Use, CrossLend is not acting as a credit institution nor a financial services provider, and it does not perform financial services in accordance with the German Banking Act (Kreditwesengesetz).

Please read the following terms and conditions (hereinafter referred to as "CrossLend ToU"), which apply to Users that are interested in the intermediation of a loan or in the selection and subscription of securities.

1. General

1.1 The use of the CrossLend Platform shall only be admissible on the basis of the CrossLend ToU.

1.2 The use of the CrossLend Platform by the Users is free of charge. No entitlement for the use of the CrossLend Platform and the services of CrossLend shall exist. It shall be within CrossLend's discretion to reject a potential borrower without giving any reasons and accordingly not perform any intermediation services in such cases.

1.3 CrossLend reserves the right to amend the CrossLend ToU. Such amendments shall be considered accepted by the User if no objection thereto is made in writing to CrossLend within one month as from the User’s receipt of the amendment notification. CrossLend will specifically point out this consequence in the amendment notification.

2. Services for potential and active borrowers

2.1 The CrossLend Platform offers potential and active borrowers a technical platform for the preparation, application, performance and termination of loans. The CrossLend Platform particularly enables potential and active borrowers to get an overview of potential loan conditions and the status of their loan applications or active loans. Borrowers must be individuals who reside in and are citizens of, or if not citizens, have been residing for at least two years in, the country of application (which may be any country in which CrossLend offers the services for potential and active borrowers, as provided hereunder).

2.2 CrossLend collects, processes and uses information about the respective potential or active borrower for the performance of the services of the CrossLend Platform and keeps this information throughout the contractual term of these terms of use. For these purposes, CrossLend collects basic data and loan application data as well as data for the assessment of the User’s creditworthiness, both from the user himself as well as on behalf of the User from publicly accessible sources and other sources, which are made available to CrossLend by the User for these purposes. For the preparation, application, performance and termination of loans CrossLend will, on behalf of the User and within the scope of the technical services of the CrossLend Platform,

2.2.1 Collect credit reports from credit bureaus, potential or active creditors of the User as well as from third parties to which credit claims against the User had been assigned to;

2.2.2 Collect information about the application, performance and termination of loans from potential or active creditors of the User as well as from third parties to which credit claims against the User had been assigned to;

2.2.3 Transfer basic data, loan application data as well as data and probability values (Scores) for the assessment of the User’s creditworthiness to potential and active creditors of the User as well as to third parties, to which credit claims had been assigned to;

2.2.4 Make available to participating investors and to third parties to which credit claims against the User had been assigned to, information about the application, performance and termination of loans.

2.3 The User hereby releases his potential or active creditors from the banking secrecy, to the extent necessary for them to transfer to CrossLend credit reports from credit bureaus as well as information about the preparation, application, performance and termination of loans.

3. Services for potential and active investors

3.1 The CrossLend Platform offers potential and active investors a technical platform for the selection and subscription of securities as well as for the access to information and notifications regarding their cash and securities account. The CrossLend Platform particularly enables potential and active investors to get an overview of the potential securities for subscription and of the status of their subscribed securities. Investors must be individuals residing in the country of application (which may be any country in which CrossLend offers the services for potential and active investors, as provided hereunder).

3.2 CrossLend collects, processes and uses information about the respective potential or active investor for the performance of the services of the CrossLend Platform and keeps this information throughout the contractual term of these terms of use. For these purposes, CrossLend collects basic data and subscription application data of the User. For purposes of allowing the subscription of securities and the access to the cash and securities account, CrossLend will on behalf of the Users, within the scope of the technical services of the CrossLend Platform and throughout the contractual term,

3.2.1 Transfer application data for the opening of the cash and custody accounts to the bank in charge of the accounts (for the opening of a cash and securities account, a separate successful identity verification by the credit institution or by a third party commissioned by the credit institution is required);

3.2.2 Transfer data regarding the subscription application to the bank in charge of the cash and custody accounts, the placement agent of potential and active issuers, and to their tied agents;

3.2.3 Collect information and notifications regarding the User’s cash and custody accounts from the credit institution in charge of these accounts.

3.3 The securities offered to the investors are issued by CrossLend Securities SA (Luxembourg) and are placed on the CrossLend Platform by CrossLend on behalf and under the full responsibility of a credit institution. The subscription of the securities by the investors is part of a separate subscription agreement between the investor and the issuer CrossLend Securities SA, placed by a credit institution. The CrossLend Platform solely serves as an electronic means of communication between the investor, the issuer and the credit institution. CrossLend does not perform any investment advisory services. In particular, no investment recommendations are made nor tax or legal advice is provided.

4. Registration and contractual terms for the use of the website

4.1 A registration as User is required to use the CrossLend Platform to its full extent. Registration is permitted to natural persons who have full legal capacity and have reached the age of 18.

4.2 The registration requires all requested data to be provided completely and truthfully. Moreover, the User is required to keep his registration data updated at all times.

4.3 With the successful registration of the User with the CrossLend Platform, a contract for the use of the website becomes effective on the sole basis of the CrossLend ToU.

4.4 Upon a successful registration, CrossLend will send a confirmation email to the User. By clicking on the link therein provided, the User’s personal CrossLend account will be activated. The User’s email address for the communication between CrossLend and the User is thereby also confirmed. Users are hereby expressly informed that, in principle, the possibility of unauthorised third parties being able to view, read, manipulate or delete electronically transmitted data cannot be excluded. Accordingly, CrossLend undertakes no liability for the security of the data to be so transmitted. Under his CrossLend account, the User may access and change his personal information and obtain information on his current loans, including the status of repayment, and on the status of their subscribed securities.

5. General duties of the Users

5.1 The CrossLend account shall only be used by a registered User.

5.2 The User is obliged to keep the password of his CrossLend account secret and to carefully safeguard the access to his CrossLend account. The User will ensure that no unauthorised third party gains knowledge of his password. To prevent misuses, passwords should not be stored electronically nor be otherwise put in writing. The User shall immediately change his password if third parties become aware of it. The User is obliged to change his password immediately, should he suspect that third parties have gained unauthorised access to it. The User is hereby recommended to regularly change his password for security reasons.

5.3 The User is obliged to immediately inform CrossLend of any evidence of misuse of his account by third parties.

5.4 The User is liable for all activities resulting from the use of his CrossLend account, including the improper use by third parties, unless he was not to be held liable for the misuse or he had not violated his duties of care.

5.5 It is prohibited for the User to use the CrossLend Platform in an unlawful manner, in violation of the contract or in any other abusive way, such as impairing or disturbing the functionality of the CrossLend Platform (e.g. by violating the system integrity), transferring the CrossLend account to third parties or providing access to the CrossLend account to unauthorised third parties.

5.6 With respect to the access credentials, security settings and legitimation instruments that are provided to an investor by the credit institution in charge of the cash and securities account, the investor hereby also commits towards CrossLend to comply with the duties of care and further conditions that are stipulated in the terms and conditions of the cash and securities account of the credit institution. Furthermore, he also commits towards CrossLend to:

- only use the means of communication that are permissible according to the terms and conditions of the credit institution;
- comply with the confidentiality obligations pursuant to the terms and conditions of the credit institution, in particular not to share the access credentials, security settings and legitimation instruments with third parties;
- immediately inform the credit institution if the investor has reasons to believe that his account has been used without authorisation;
- immediately report any theft or misuse of access credentials to the police;
- comply with the requirements for the security and use of the access credentials used by the investor, which are stipulated in the terms and conditions of the credit institution.

Any claims and objections arising under the contractual relationship with the credit institution in charge of the cash and securities account shall only be made against that credit institution.

6. Availability

To the extent it is technically feasible and commercially reasonable, CrossLend undertakes to offer an unrestricted availability of the CrossLend Platform. However, CrossLend does not guarantee the latter. In particular, maintenance works, security and capacity reasons, technical circumstances as well as events outside of CrossLend’s sphere of control may lead to temporary inaccessibility to the CrossLend Platform.

7. Hotline

CrossLend offers the User a customer support. This includes support by telephone regarding general questions about the services of CrossLend (8 am to 10 pm CET, Monday through Friday, and 9 am to 6 pm CET on Saturdays, except for public holidays). In addition to the hotline, the User will have access to an online service centre on the CrossLend Platform, which should be primarily used by the User.

8. Intellectual property and allowed use of the website

8.1 The data and material, including pictures, graphics, illustrations, designs, symbols, photos, texts and other images (hereinafter referred to as "Content") on the CrossLend Platform are protected by copyright law, trademark law, data protection law and/or other laws of intellectual property. Users may only use this Content for private, non-commercial purposes within the scope of the CrossLend Platform. Any other use and/or copy of the Content without the prior written consent of CrossLend constitutes a violation of the CrossLend ToU and is prohibited.

8.2 The use of automated systems or software for the extraction of data from the CrossLend Platform, in particular for commercial purposes, is prohibited.

9. Data protection

CrossLend shall process Users’ data as required for the performance of its services under these terms of use, or provided that the User has granted his consent or a legal permission applies. Information about the scope of the collection, processing and use of personal data by CrossLend can be found in CrossLend’s Privacy Policy, which may be retrieved and printed at all times from www.crosslend.com. The User may at any time opt out from the processing and use of his personal data for advertising purposes.

10. Contractual term and termination of the CrossLend ToU

10.1 Unless terminated, the CrossLend ToU shall remain in full force and effect for an undetermined term.

10.2 Both the User and CrossLend may terminate this contract at any time by serving a written termination notice to the other party with 2 weeks prior to the end of the month (including email). Termination is precluded prior to the settlement of any ongoing intermediated credit agreement or investment.

10.3 The right of termination with cause remains unaffected.

11. Liability

11.1 No limitation of liability shall apply to damages resulting from wilful misconduct or gross negligence, death or personal injury caused by CrossLend’s negligence, or fraud or fraudulent misrepresentation.

11.2 Subject to clause 11.1, CrossLend will not be liable whether based on a claim in contract, tort (including negligence), breach of statutory duty or otherwise arising out of or in relation to this Agreement for any loss of profits, loss of business, loss of revenue, anticipated savings, goodwill or any indirect or consequential damages even if foreseeable and if CrossLend has been advised of the possibility of such losses.

11.3 Subject to clause 11.1, CrossLend shall not be liable for damages resulting from events outside of CrossLend’s control including where such damages could not have been prevented by mitigation by or on CrossLend’s behalf.

11.4 Subject to clause 11.1, CrossLend shall not be liable for any failures or disturbances in the technical infrastructure of the CrossLend Platform that are outside its control.

11.5 CrossLend does not have control over the information and services provided by third parties. CrossLend shall not be liable for any information or acts of third parties and shall not be liable for any damages resulting therefrom.

12. Closing provisions

12.1 Place of performance of the services is the place of business of CrossLend.

12.2 German law shall apply..

12.3 Insofar as the User is a merchant, the competent court is Berlin.

12.4 Should individual or several provisions of the conditions hereof be or become invalid in whole or in part, the validity of the remaining provisions shall not be affected. The Parties undertake to agree on an effective substitute provision as close as possible to the ineffective provision or the intended purpose of the ineffective provision. The same shall apply to gaps in the contract.

12.5 These CrossLend ToU have been originally drafted in the German language. The original version can be retrieved here. In the event of discrepancies between this English translation, provided for the purposes of convenience only, and the original German version, the original German version shall prevail.

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