Additional notes

The Bank’s own and program resources may be concurrently used by the borrower. 

For foreign currency loans, the issuance fee is calculated and charged in AMD. The currency exchange is carried out at non-cash rate of the given foreign currency published by the Bank at the time of collection. A one-time issuance fee and collateral processing fee are charged prior to loan issuance. 

Loans are provided exclusively under the existing or newly concluded master contract for performing financial operations. 
No fee is charged for conclusion of the master contract for performing financial operations. 

The cadastral costs for state registration of the property pledge right shall be borne by the Bank, except in cases when the client wishes to register the Bank's pledge right in an accelerated manner beyond the standard timeframes stipulated by law, in which case no state registration fee of the pledge right shall be charged. 

The transition from a short-term to a long-term period envisaged by these terms is not considered a revision of the loan conditions.

Application of conditions stricter than those specified in this document shall not be considered a deviation from the conditions set forth herein.

Application of an interest rate higher than those determined for each interval is not considered a deviation from the specified terms.

In case of non-refinancing or termination of financing of loans under the Program resource, the interest rate determined under the contract is changed, and the interest rate specified for the Bank's own resource is set thereto. 

A financing limit can be provided to the client for a 12-month period.
Within the effective period of the limit, the client can be issued SME-FLEXI loans under its current terms and conditions. 
A respective business analysis is performed for issuance of the credit limit. 
1. When reviewing each SME-FLEXI loan application within the credit limit, the intended use of each SME FLEXI loan provided within the limit is checked thereof. 
2. The reason for rejecting a new SME FLEXI loan application within the credit limit is the deterioration of the client's credit history and loan debt.
2.1 As of the moment of SME FLEXI loan application review within the credit limit, there are above than 30 (thirty) cumulative overdue days in the past 12 months for liabilities pertaining to current loans at the Bank, other RA banks and credit organizations and (or) accrued interest thereof and any liabilities classified by a category above controlled,  and/or
2.2. Increased loan debt: if the client's loan debt is increased by 10% or more during the effective term of the credit limit (financing by Ardshinbank is not included in the calculation), the provision of loan instruments within the limit is terminated, except in cases when the possibility of refinancing such loan/s is being considered.  
3. SME FLEXI loans within the credit limit are provided exclusively under the existing or newly concluded master contract for performing financial operations. 
4. For each SME FLEXI loan within the credit limit a respective loan agreement shall be concluded thereof.   
5. The client is liable to receive an unlimited number of SME FLEXI loans for small and medium-sized businesses in the amount of the maximum credit limit. 

1     The date of transition from a short-term to a long-term period is considered the end of the last day of the short-term period, and in case of a non-working day - the end of the next working day. 
2    If pledging various types of collateral, each type shall be included at its maximum LTV ratio, and the pledge of 100% of shares/stock of legal entity pledgers shall be considered thereof.