1. Funding Contract
  • This Funding Contract (“Contract”) shall contain the terms and conditions to be applied at the relationship between the Investor and the Issuer (“the Parties”) in engaging in microLEAP’s platform (“Services”). The Investor and the Issuer acknowledge, understand and agree that both parties have read all the terms of this Contract and any other agreement that is to be read with this Contract and will be bound to the same terms.
  • A Funding Contract is deemed to be automatically entered into by any party when a funding request has met its minimum funding goal and has been irrevocably accepted by the Issuer.
  • The Contract shall be read together with the Term Sheet which shall consist of the investment note reference, credit risk rating, breakdown, funding amount raised, interest rate, credit risk and repayment schedule.
  • The Parties warrant that they have the legal capacity to act as an individual, regardless that they have been legally appointed as a representative of a partnership, company or business entity, and that they are deemed to warrant that they are duly authorised to act on their own behalf or as a representative. Legal action shall be taken should there be a breach to this requirement.
  1. Covenants of Issuer and Investor
  • The Parties shall comply with all applicable laws and regulations and promptly obtain all consents or authorisations under any law or regulation to enable the Parties to perform their obligations under the Issuer Agreement, the Investor Agreement andthe Funding Contract. The Parties also have to ensure the legality, validity, enforceability and admissibility in evidence of the funding in any relevant jurisdiction, including but not limited to the jurisdiction of Malaysia. The Parties further warrant that they are not and shall not be engaged in activities which may constitute moneylaundering as well as terrorism financing offences under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
  • The Parties understand the risks in the mechanism of the Platform (as defined in the Issuer Agreement) and the risks in subscribing the Investment Notes. The Parties covenant that they are also familiar with the potential loss of some or all of the amounts provided by the Investor in subscribing to any Investment Note on the Platform and that there are other foreseeable or unforeseeable risk factors that might cause loss which the Investor shall be solely liable for all risks and losses as a result of subscribing to any Investment Note on the Platform.
  1. Repayments and Interests
  • The monthly or any other scheduled repayments payable to each Investor in respect of the Issuer’s funded amount will be set out in the repayment schedule which shall be read together with the Contract.
  • The Issuer irrevocably and unconditionally agrees to remit repayment amounts 1 month from the drawdown date and will follow the subsequent months from then and that the repayments will be credited into the Investors’ available balance in due course.
  1. Defaults
  • Should the Issuer fail to comply with any term and condition (including the Issuer Agreement and this Contract), the funding will be placed into default and the outstanding balance shall immediately become due and payable by the Issuer and the Issuer will receive a default notice and/or termination notice and will be pursued for the total outstanding funded amount.
  1. Liability and Indemnity
  • The Parties shall fully and unconditionally bear all costs, fees and/or expenses spent or incurred, required in relation to, any investigation, negotiation, conflict, mediation, court or arbitral proceedings arising out of or in connection with defaults payment or other disputes. The Parties also agree to first pursue in good faith the mediation of any course of action arising out of the subject matter of this Contract before resorting to legal proceeding at court in order to settle the matter amicably.
  1. General
  • Nothing in this Contract is intended to constitute a Party as an agent of the other and except as otherwise expressly provided under this Contract and/or with the prior written consent of the other Party, no Party shall have any power or authority to act in the name or on behalf of another to accept any liability or obligation binding upon the other Party. There will be no right to assign or transfer any of such rights, undertakings, agreements, duties, liabilities and/or obligations hereunder.
  • No remedy conferred by any of the provisions of this Contract is intended to be exclusive of any other remedy which is otherwise available at law, in equity, by statute or otherwise.
  • This Contract and any other terms and conditions referred to in this Contract collectively constitutes the entire agreements agreed upon by the Parties as to the subject matter of the same. Each Party hereby acknowledges that by entering into this Contract it has not relied on any representation or warranty save as expressly set out herein or in any document referred to herein.
  • All disclaimers, indemnities and exclusions in this Contract shall survive the termination of this Contract by any reason. Notwithstanding that any provision of this Contract or part thereof may prove to be illegal or unenforceable or void, the remaining provisions of this Contract shall continue to be in full force and effect.
  • This Contract shall be governed by the laws of Malaysia and the Parties hereto submit to the exclusive jurisdiction of the Malaysian Courts in respect of any dispute or matter arising out of or connected with this funding contract and/or the documents referred to herein.