Agreement on Periodic Payment Orders

1. 1. Terms and Definitions

   1. Account Agreement - the Electronic Money and Payment Account Agreement concluded by and between Us and the Client.
   2. Agreement - this Agreement on Periodic Payment Orders governing the terms and conditions of execution of periodic transfers of electronic money.
   3. Other terms used in the Agreement have meanings as defined in the General T&C, the Account Agreement, the Republic of Lithuania Law on Payments, and the Republic of Lithuania Law on Electronic Money and Electronic Money Institutions.

2. 2. Subject of the Agreement

   4. Under this Agreement, We undertake to transfer, on a periodic basis, funds from the Account to a payee account specified by You, and You undertake to pay Us the fees for such transfers as stated in the Standard Rates.

3. 3. Execution of Periodic Transfers

   5. We shall execute periodic transfers at the intervals specified in Your Periodic Payment Orders. You shall place such orders in the Online Banking System or by another method specified by Us. We shall consider the date of execution of the periodic transfer specified in the periodic payment order as the date of the payment order.
   6. We shall execute the number of transfers specified by You by the last specified date of transfer (inclusively). In the case if the date of the last transfer is not specified in the Agreement, the money shall be transferred until We receive Your request for termination of the Agreement. If You wish to change the details of the periodic transfer, You have to terminate the Agreement and conclude a new Agreement, specifying new details of periodic payments. In order to terminate the Agreement You shall give us a 1 (one) business day notice prior to the specified transfer date.
   7. The date of executing the transfers shall be determined having regard to the date of the first transfer and the periodicity specified by You.
   8. If funds are transferred to another financial institution and the transfer date coincides with a day-off or a holiday, the transfer shall be made on the Institution's first business day after the day-off/holiday.
   9. If You have concluded more than one Agreement and the transfer dates specified therein coincide, the transfers shall be made in the sequence of conclusion of the Agreements.
   10. We shall transfer the funds provided that the balance in Your account is sufficient for the transfer and for the debiting of the relevant fee.
   11. We shall not make the transfer if Your account is seized or Your right to dispose of the funds therein is restricted otherwise.
   12. You shall pay Us the fee for the periodic transfers in accordance with the Standard Rates.

4. 4. Termination

   13. The Agreement may expire or be terminated on the grounds specified in the General T&C.
   14. The Agreement can also be terminated in the case specified in Clause 3.2 of the Agreement when You intend to change the details of the periodic payment.