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LOAN FRAMEWORK AGREEMENT

1.     LOAN

1.1  Subject to the terms of this Loan Framework Agreement (the “Agreement”), the Lender agrees to make available to the Borrower a Loan in an aggregate principal amount not to exceed the Maximum Loan Amount indicated herein.    At any time during the Availability Period, as defined in Section 1.4 below, the Borrower may apply for a loan availment (a “Drawdown”) by submitting a Drawdown Application (the “Drawdown Application”) to the Lender.     A Drawdown Application shall be in the form set forth in Annex “A-1” hereof and shall be delivered to the Lender through any of the authorized methods described in Annex “A-1”.  Multiple Drawdowns of the Loan shall be allowed, provided, that, the aggregate outstanding principal amount of the approved Drawdowns shall not exceed the Maximum Loan Amount at any time. 

1.2  The Lender may approve, accept or reject such Drawdown Application at its absolute discretion. The Lender shall notify the Borrower of the approval of its Drawdown Application by sending the Borrower a message through any of the modes of communication as indicated in Annex “A-2” (the “Approval Notice”).  The Approval Notice shall contain the following information with respect to every Drawdown:  (a) the principal amount of the approved loan, (b) the applicable interest rate, (c) the term and maturity date, (d) and the principal installment or repayment and interest payment schedule, (e) fees and financing charges payable by the Borrower, and (f) the weblink to the other terms and conditions of the Loan, the Disclosure Statement, and Promissory Note.

1.3  Each approved Drawdown shall be subject to the relevant interest rates and fees pertaining to the amount drawn, more particularly described in the table of interest rates and fees set forth in Annex “B” hereof.

1.4  In addition to the other fees and financing charges described in this Agreement, the Disclosure Statement and the Approval Notice, the Borrower shall pay to the Lender a Processing Fee for each Drawdown, equivalent to ten percent (10%) of the Drawdown Amount.  The Processing Fee shall be deducted from the total amount to be disbursed to the Borrower by the Lender. The Processing Fee shall be returned in full to the Borrower within five (5) Business Days from the full and timely payment of the Loan. In case the Borrower shall default or delay in the payment of any of his/her installments for fifteen (15) calendar days or more, the Processing Fee shall be forfeited in favor of the Lender. 

As used in this Agreement, the term “Business Day” means a day, other than a Saturday, Sunday or legal holiday, on which commercial banks are generally open for the transaction of business in the city of Makati, Philippines.

1.5  The disbursement of any approved Drawdown is subject to the Borrower’s compliance with, and fulfillment of, the conditions precedent for such disbursement set forth in Section 3.2 below.

1.6  The Loan Facility under this Agreement is being extended for a period five (5) year/s from the date of approval of this Agreement (the “Availability Period”). Any amount that is undrawn at the end of the Availability Period shall be automatically cancelled and the Borrower shall not be allowed to draw any additional amount under this Agreement after the Availability Period.

1.7  Each Drawdown shall be evidenced by a promissory note (the “Note”), substantially in the form of Annex “C” hereof, dated as of the relevant date of the Drawdown (the “Drawdown Date”) and made payable to the Lender in the amount of such approved Drawdown.   

1.8  The Notes issued by the Borrower shall constitute the direct, unconditional, unsubordinated, unsecured and general obligations of the Borrower, ranking at least pari passu in all respects and ratably without preference or priority (with the exception of those which have preference solely by operation of Philippine laws, including but not limited to preferred claims under bankruptcy, insolvency, reorganization, moratorium, liquidation or other similar laws affecting the enforcement of creditors’ rights generally, except any preference or priority established by Article 2244, paragraph 14(a) of the Civil Code of the Philippines, as the same may be amended from time to time) with all other present and future direct, unconditional, unsubordinated and unsecured obligations of the Borrower (contingent or otherwise).

1.9  The documentary stamp tax on the original issue of the Notes shall be for the account of the Lender.

2.     PERSONAL IDENTIFICATION NUMBER

2.1  The Lender shall provide the Borrower with the Borrower’s designated Personal Identification Number (“PIN”). The PIN is a unique alpha-numerical code which will allow the Borrower to access documents and information pertaining to the Loan and/or any subsequent Drawdown and to give his/her consent, signature and approval to matters concerning the Loan or any subsequent Drawdown.

2.2  The Borrower acknowledges and confirms his/her understanding that his/her personal PIN is a unique access code that allows access to confidential documents and information pertaining to the Loan and any Drawdown made and may be used to give consent and approval to matters concerning the Loan and the Drawdown. The Borrower undertakes to protect the PIN from loss and to keep the same private and confidential and free from any unauthorized access.  The Borrower shall not disclose the same to any person or entity nor allow the use of the PIN by any other person or entity.   Any violation of this clause shall render the Borrower liable for any loss, damage, expense, cost, claim or liability which may be suffered by the Lender from the loss, unauthorized use or disclosure of the PIN.  The Lender shall not be liable for any loss, damage, expense, cost, claim or liability that may be suffered or incurred by the Borrower or any third party as a result of the loss, unauthorized use or disclosure of the PIN.

3.     MANNER OF DISBURSEMENT OF THE LOAN AND CONDITIONS PRECEDENT TO DISBURSEMENT

3.1  The Borrower shall receive an SMS from the Lender confirming the availability of an approved loan for disbursement along with a reference number to allow the Borrower to claim such amount from any Smart Padala Center or any authorized Payment Center.

3.2  All disbursements of the Loan to the Borrower shall be subject to the fulfillment by the Borrower of the following conditions precedent in a manner that is satisfactory to the Lender, within three (3) Business Days from receipt of the Approval Notice from the Lender:

a.  The Borrower has signified his/her consent to the terms and conditions of the availment;

b.   The Borrower has acknowledged  receipt of and has agreed to the Disclosure Statement required under the Truth in Lending Act (Republic Act No. 3765) hereto attached as Annex “D”; and

c.   The Borrower has agreed to the terms of and has executed the Note covering the Loan.

The Borrower shall signify his/her consent and conformity to the terms and conditions of the Drawdown, the Disclosure Statement, the Note and any other documents, contracts, instruments and agreements that may be required hereunder, by means of SMS through his/her mobile number registered with the Lender (“Registered MIN”) followed by his/her PIN.

Upon Lender’s receipt of the Borrower’s consent in the manner set forth herein, the Lender shall send within three (3) Business Days a reference number which the Borrower may present to any Smart Padala Center or any authorized Payment Center to claim the Drawdown amount.

3.3  Any reference number sent by the Lender under this Section shall be valid for three (3) calendar days. If the Borrower fails claim an approved Loan within three (3) calendar days from his/her receipt of the reference number, then the reference number shall expire and the Borrower may no longer claim the Drawdown amount using such reference number. At the request of the Borrower, the Lender may provide the Borrower with a new reference number, at the Lender’s sole discretion.

3.4  The Borrower expressly agrees to the use of electronic signatures, as allowed under The Electronic Commerce Act of 2000 (Republic Act No. 8792), to signify its consent, approval or conformity to any of the agreements, documents, data or information that may be required to be submitted or delivered to the Lender under this Agreement, including but not limited to, the Notes, the Disclosure Statement and other documents, contracts, agreements, instruments and consents required herein.

4.     PRINCIPAL AND INTEREST PAYMENTS

4.1  The Borrower shall repay the Loan by paying the principal amount thereof and the relevant interest thereon in accordance with the repayment and interest payment schedules described in the Approval Notice for each Drawdown.

4.2  The Approval Notice shall indicate the applicable interest period (the “Interest Period”) for each Drawdown.

4.3   Interest shall accrue from and including the first day of an Interest Period up to, but not including, the last day of such Interest Period.

4.4  If the due date for payment of the principal amount and/or interest falls on a day that is not a Business Day, then the principal and/or interest shall be paid on the next succeeding Business Day.

4.5  All payments by the Borrower for principal and interest shall be paid without deduction.  All payments shall be made in cash at any authorized Payment Center of the Lender. Any partial payment made by the Borrower towards the Principal and Interest shall be credited against the outstanding Loan of the Borrower.

4.6   Any payments made by a third party on behalf of the Borrower shall not constitute a novation of the obligations herein resulting in a change of debtor, without the express written consent of the Lender. The Borrower remains responsible for any outstanding Loan.

5.     EFFECTIVITY

This Agreement shall be effective upon final approval of the application of the Borrower, which approval shall be communicated to the Borrower through any of the modes of communication specified in Annex “A-2”, no later than three (3) Business Days from signing of this Agreement.

6.     REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS OF THE BORROWER

6.1 REPRESENTATIONS AND WARRANTIES. The Borrower hereby makes the following representations and warranties in favor of the Lender, which shall be true, correct, valid and effective on the date hereof and shall remain true, correct, valid and effective for as long as any of Borrower’s obligations hereunder remains unpaid or unfulfilled:

 a.     He/She is of legal age,  has the legal personality and full legal right, power and capacity to incur the indebtedness and other obligations provided for in this Agreement and the Notes, to execute and deliver the same, and to comply, perform and observe the terms and conditions thereof;

b.     This Agreement and the Notes constitute his/her legal, valid and binding obligation, enforceable in accordance with its terms;

c.     No consents, approvals, registrations or filings are required to be obtained or done with any relevant governmental authority or third party for the execution and performance by the Borrower of this Agreement and the Notes;

d.     The execution and delivery by the Borrower of this Agreement and the Notes, the performance by it of any provision, condition, covenant or other terms herein and therein and its payment of all amounts due on the dates provided herein and therein:  (i) will not violate any applicable law; (ii) will not conflict with or result in the breach of any provision of, or the imposition of any lien or charge under, any agreement, instrument, undertaking or contract to which the Borrower is a party or by which it or any of its properties or assets is bound; (iii) will not constitute a default or an event that, with the giving of notice or the passing of time, or both, would constitute a default under any such agreement, instrument, undertaking or contract;

e.     The Borrower is not insolvent or has not committed any act of insolvency or bankruptcy, which term shall include (i) the filing of a petition for insolvency or bankruptcy by the Borrower, (ii) the making of a general assignment for the benefit of creditors, (iii) an application for suspension of payment, (iv) consenting to the institution of bankruptcy or insolvency proceedings against the Borrower, or (v) the entry of any court order or judgment confirming the bankruptcy or insolvency of Borrower; 

f.     All information heretofore or hereinafter given by the Borrower to the Lender for and in connection with the Agreement, the Loan and the Notes are true and correct and do not contain any untrue statement or omit to state a fact necessary in order to make the statements not misleading in light of the circumstances under which such statements were or are made;

g.     There is no legal, administrative or arbitral action, suit or proceeding against or affecting the Borrower which relates to this Agreement, the Loan or the Notes or enjoins the execution, delivery or performance of this Agreement, the Loan or the Notes, or will cause or result in the termination, suspension or revision hereof or thereof;

h.     The Borrower’s obligations under this Agreement, Loan and the Notes constitute its direct, unconditional, unsubordinated and secured obligations and shall at all times rank at least pari passu in priority of payment and in all other respects with all other unsecured and unsubordinated indebtedness and monetary obligations of the Borrower; and

i.     No Event of Default as defined in Section 7 hereof nor any other event which constitutes, or which, with the giving of notice or lapse of time or both, would constitute, an Event of Default, has occurred or is continuing.

Each of the representations and warranties set forth in this Section 6.1 shall survive the execution of this Agreement and the Drawdowns hereunder, and shall be deemed repeated with reference to the facts and circumstances then existing on each day any amount remains outstanding under this Agreement and the Notes.

6.2  UNDERTAKINGS OF THE BORROWER. The Borrower undertakes to perform and comply with the following obligations under this Loan Agreement:

a.     Pay the amount of principal and interest on the Loan on or before the due date therefor;

b.     Notify the Lender in writing or through the Pera Agad Customer Care Toll Free number for any changes in circumstances and data declared at the conclusion of this Agreement and Know-Your-Customer (KYC) Process, including but not limited to a change in any of the following: his/her permanent or current address, phone number, job or employment status, employment contract, as well as any circumstance that could affect the performance of his/her obligations hereunder. All statements, notices, invitations and any other documents relating to the implementation of this Agreement and sent to the Borrower at his/her last declared address and/or e-mail address are deemed to have been received by him/her, notwithstanding that such address has changed, if the Borrower has not informed Lender of his/her new address and/or e-mail address or the Lender receives such notification only after it has sent out of such statements, notices, invitations and other documents.

c.     Observe and comply with all obligations relating to the protection, safekeeping and proper use of the PIN.

7.     EVENTS OF DEFAULT

7.1    EVENTS OF DEFAULT.  Each of the following events and occurrences shall constitute an Event of Default under this Loan Agreement:

a.     The Borrower fails to pay, when due, the Loan or any installment payments or any other amounts which the Borrower is obligated to pay under this Agreement, or the Notes;

b.     Any representation or warranty of the Borrower contained herein proves to have been untrue, incorrect or misleading on the date hereof or becomes untrue, incorrect or misleading in any material respect or is breached at any time, in the reasonable opinion of the Lender, and if remediable, continues unremedied for a period of thirty (30) days from the date of receipt by the Borrower of notice with respect thereto from the Lender;

c.     The Borrower fails to perform, or violates, any other provision of this Agreement or the Notes and such failure or violation in the reasonable opinion of Lender is not remediable, or if remediable, continues unremedied for a period of thirty (30) days from the date of receipt by the Borrower of notice with respect thereto from the Lender;

d.     The Borrower becomes insolvent or commits any act of insolvency or bankruptcy, which term shall include: (i) the filing of a petition for insolvency or bankruptcy by the Borrower, (ii) the making of a general assignment for the benefit of creditors, (iii) the application for suspension of payments, (iv) consenting to the institution of bankruptcy or insolvency proceedings against the Borrower, or (v) the entry of any court order or judgment confirming the bankruptcy or insolvency of Borrower;

e.     It becomes unlawful for the Borrower or any surety to perform any of its obligations under this Agreement, the Notes or other documents executed pursuant to the Loan and/or Drawdown/s (together, the “Loan Documents”);

f.     The Borrower or any surety repudiates any of the Loan Documents or evidences an intention to repudiate any of the Loan Documents or shall contest the validity or enforceability of the foregoing or deny its liability hereunder or thereunder;

j.     Any Loan Document or any material portion thereof is declared to be illegal or unenforceable;

h.     Any event, condition or circumstance shall occur (including, without limitation, any change in the economic or financial condition of the Borrower or any other circumstance) which, in the reasonable determination of the Lender may have a material adverse effect on: (a) the ability of the Borrower or the sureties (if any) to pay the Loan or any of the Drawdown/s or any other amounts due under any Loan Document, or on the ability of the Borrower or the sureties (if any) to perform its respective obligations under any of the Loan Documents; or (b) the validity or enforceability of any of the Loan Documents or the rights or remedies of the Lender under any Loan Document; or

i.     Any event shall occur which under applicable laws has an analogous effect to any of the events referred to in this Section.

7.2   CONSEQUENCES OF DEFAULT.  If an Event of Default shall occur and be continuing, such Event of Default shall have the following effects, which shall be alternative, concurrent and cumulative with each other:

a.     The entire outstanding amount of the Loan, principal and accrued interest, shall become immediately due and payable without presentment, demand or notice of any kind, all of which are expressly waived by the Borrower;

b.     The Borrower shall also be liable for the Default Interest and penalties as provided in Section 7.3;

c.     If the Borrower delays or defaults in the payment of any installment for fifteen (15) calendar days or more, the Processing Fee shall be forfeited in favor of the Lender;

d.     In case of delay by the Borrower to repay any of the amounts due under this Agreement, the Lender has the right to: (1) transfer its rights and obligations under this Agreement and the Notes to a third party in order to collect outstanding amounts, upon notice to the Borrower through any of the modes of communication specified in Annex A-2; or (2) engage the services of a third party to collect the amounts due. In both cases, the Borrower hereby expressly consents to the release or disclosure of his personal data generated or disclosed under this Agreement and related documents to third parties to effect such collection;

e.    The Borrower shall also be liable to the Lender for any and all attorney’s fees, collection fees, and litigation costs incurred or to be incurred by the Lender in collecting the outstanding amount of the Loan;

f.     The Lender shall have the right to exercise, alternatively concurrently and cumulatively, all other rights and remedies now or hereafter available to it under this Agreement, the Notes and under applicable laws. 

7.3  DEFAULT INTEREST. 

a.     Without prejudice to the provisions of Section 7.2 above, if the Borrower fails to make payment when due of any sum payable hereunder (whether at stated maturity, by acceleration or otherwise, and whether for principal, interest or otherwise), the Borrower shall, in addition to the principal, interest and other amounts that may be due, pay the following penalty fees computed from the time the amount fell due until the same is fully paid (“Default Interest”):

Fixed fee of PHP30 for every installment above 7 calendar days of delay;

b.     Interest and penalties payable under this Section 7.3 shall immediately accrue on the date of occurrence of an Event of Default, without need of any notice or demand.

c.     In addition to the Default Interest, the Borrower shall indemnify the Lender against any actual, reasonable and properly documented loss or expense which it may sustain or incur as a direct consequence of the default by the Borrower in the payment of the principal amount of the Notes,  any interest thereon or any other amounts that may be due under this Agreement or the Notes.

8.    MISCELLANEOUS

8.1  USE OF DATA. The Borrower agrees that the Lender may use his/her personal data generated or disclosed under this Agreement, the Notes and related documents such that the Lender (or such person appointed by the Lender) may contact him/her for the purpose of marketing, sending reminders of the installment schedule, collection of amounts due and similar activities, as well as verifying information presented by the Borrower to the Lender in the course of the Loan application process.

The Borrower agrees that the Lender may use his/her personal data or telecommunication usage data during and after the lifetime of the Loan for on-going credit scoring purposes, as well as to be able to score the Borrower for future Loans applications as set forth in Section 1.1 above.

8.2 ELECTRONIC SIGNATURE. The Borrower agrees that the unique PIN code, when used in accordance with this Agreement shall serve as the Borrower’s electronic signature on any document, contract, agreement or instrument or any consent required herein or therein, and shall be valid and binding upon the Borrower.  The Borrower acknowledges and agrees that any document, contract, agreement or instrument executed by the Borrower or consent granted by it using such electronic signature shall be enforceable against the Borrower in accordance with its terms.

8.3  AMENDMENTS.  This Agreement, and the Loan and Drawdown/s made hereunder, is granted in the light of the prevailing economic/regulatory environment and other circumstances considered by the Lender in entering into  this Agreement and granting the Loan and the Drawdown/s made hereunder.  In case of any change in such circumstances which the Lender deems material or in the event of any change in the Lender’s credit policy, the Lender reserves the right to amend any of the terms and conditions governing this Agreement, and the Loan and Drawdown/s made hereunder with due notice to the Borrower; provided, that, any amendment or modification with respect to:  (a) the principal amount of the approved loan, (b) the applicable interest rate, (c) the term and maturity date, (d) the principal installment or repayment and interest payment schedule, or (e) the fees and financing charges payable by the Borrower, shall require the consent of the Borrower.  If the Borrower fails to signify his/her consent to any of the foregoing amendments, the Lender has the option to disapprove any further Drawdowns pursuant to this Agreement.

8.4  ASSIGNMENT.  This Agreement and the Notes shall be binding upon and shall inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns, except that the Borrower shall  not have the right to transfer any of his/her/its rights  or  obligations  hereunder  to  any  other  person  or  entity without the prior written consent of the Lender.  Without such prior written consent, the assignment shall be null and void.  The Lender may assign, transfer and convey any or all of its rights and interest over the Agreement and the Notes, without the consent of the Borrower.

8.5   CONFIDENTIALITY. Except as otherwise provided herein, each of the parties undertakes to keep strictly confidential the terms and conditions of this Agreement, and not to make use of, divulge or communicate to any third person (other than its lawyers and accountants) any and all details concerning the negotiations on the terms and conditions of this Agreement, except with the prior written consent of the other party or when such disclosure is required by any law or governmental, central bank or stock exchange regulation applicable to the disclosing party or when the disclosing party is directed to do so by any court of competent jurisdiction; provided that, disclosure by the Lender to any of its Affiliates shall be expressly allowed herein and shall not constitute a prohibited disclosure to a third party.  As used herein, the term “Affiliate” shall mean any entity that is directly or indirectly controlling, controlled by, or under common control with such person.  For purposes hereof, the term “control” (including the terms “controlling”, “controlled by”, and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the corporate or management policies of a Party, whether through the ownership of voting securities or by contract.

8.6   NOTICES. All sent notices, instructions, questions or documents on the basis of or in connection with this Agreement are deemed to be received at the address for correspondence, fax or email, SMS, or phone designated by Borrower.

Communications to the Lender may be made at the stated address and e-mail address above stated.

8.7  GOVERNING LAW.  This Agreement and the Notes shall be governed by and be construed in accordance with the laws of the Republic of the Philippines.

8.8  VENUE FOR SUITS.  The parties agree that any legal action, suit or proceeding arising out of or relating to this Agreement or the Notes shall be instituted in any competent court in Makati City, Metro Manila to the exclusion of all others.

8.9   ACCESSIBILITY. This Agreement, the form of the Notes and the form of the Disclosure Statement may be accessed through http://peraagad.ph/terms.

8.10   NO IMPLIED WAIVERS.  No failure, omission or delay on the part of the Lender in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power preclude any other further exercise thereof, or the exercise of any other right or power hereunder.  No modification or waiver of any provision of this Loan Agreement and no consent to any departure by the Borrower therefrom shall in any event be effective unless the same be in writing, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given.

8.11  DOCUMENTARY STAMP TAXES.  The documentary stamp taxes, notarial fees and other expenses necessary for the due execution, delivery, notarization, enforcement of this Loan Framework Agreement shall be for the account of the Lender

8.12   ATTORNEY’S FEES. If the Lender shall hire the services of counsel to collect the Loan obligations, the Lender shall be entitled to recover from the Borrower, as and for attorney’s fees, a sum equal to twenty five percent (25%) of the sum due from the Borrower.

8.13  RECORDS OF THE LENDER. The books of the Lender shall be final and conclusive evidence concerning the amounts due and owing to it from the Borrower under this Agreement, in the absence of manifest error.

8.14   SEPARABILITY OF PROVISIONS. If any provision of this Agreement is declared invalid, the other provisions thereof shall not be affected thereby and shall continue to be in full force and effect.

ANNEX “A-1”

DRAWDOWN APPLICATION

Depending on its availability or the activation of the particular feature or functionality, the Borrower may apply for a Drawdown through any of the following methods. In each case, the Borrower will be prompted to provide its unique personal identification number (PIN) using his/her Registered MIN to access his/her account or to signify his/her consent:

1.    Short Messaging Service or SMS – Using his registered MIN, the Borrower may request for a loan availment, via SMS indicating therein the amount of the loan by typing [KEYWORD (for example, “LOAN”)] [AMOUNT OF LOAN], followed by your PIN and sending it to number 2423; or

2.    “Pera Agad” Website – Upon the activation of the necessary feature or functionality in the “Pera Agad” Website, the Borrower may log-on to the Pera Agad Website and access the instructions for a Drawdown Application. Thereafter, the Borrower shall be asked to confirm his/her Drawdown Application through his/her Registered MIN by sending an SMS indicating therein the amount of the loan by typing [KEYWORD (for example, “LOAN”)] [AMOUNT OF LOAN], followed by your PIN and sending it to number 2423; or

3.    Payment Centers – The Borrower may also inquire with any Payment Center as to his/her qualification for a Drawdown Application. Thereafter, the Borrower shall be asked to confirm his/her Drawdown Application through his/her Registered MIN by sending an SMS indicating therein the amount of the loan by typing [KEYWORD (for example, “LOAN”)] [AMOUNT OF LOAN], followed by your PIN and sending it to 2423; or

4.    Phone – The Borrower may call the Pera Agad hotline (632) 888-2423 or 1-800-10888-2423 and speak to a customer representative to request a Drawdown and which phone call will be duly recorded and saved as an evidence of Drawdown Application. Thereafter, the Borrower shall be asked to confirm his/her Drawdown Application through his/her Registered MIN by sending an SMS indicating therein the amount of the loan by typing [KEYWORD (for example, “LOAN”)] [AMOUNT OF LOAN], followed by your PIN and sending it to number 2423

ANNEX “A-2”

MODES OF COMMUNICATION BY THE LENDER TO THE BORROWER

The Lender may communicate to the Borrower its approval of the Loan, any subsequent Drawdown, reminders as to payment schedule, and such other correspondences as necessary under this Agreement through any of the following means and such would be considered as duly received by the Borrower:

1.    Short Messaging Service or SMS – The Lender may send such notice to the Borrower through the Borrower’s Registered MIN; or

2.    “Pera Agad” Website – The Lender may update the account information of the Borrower through the “Pera Agad” website www.peraagad.ph or

3.    e-Mail – The Lender may send a notice to the Borrower through the e-mail address provided by the Borrower to the Lender under this Agreement; or

4.    Address – The Lender may send a notice via courier to the Borrower; or

5.    Phone – The Lender may call the Borrower through the phone number registered with the Lender.

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