1. Definitions in these Conditions
- 1.1 “Account User” means the person liable to the Company for the settlement of the Loan, interests and such other costs and expenses as are agreed to by the Parties hereto.
- 1.2 “Conditions” mean these terms and/or any other Conditions that regulate or relate from time to time to the availing of the Loan by the Company.
- 1.3 “Due Date” means such repayment periods agreed between the parties between the date of Loan disbursement until the loan and all sums due here under are settled in full.
- 1.4 “Loan” refers to the term Loan given to the Account User through the mobile phone or such other mode as shall from time to time be made available by the Company and in such amounts as shall be determined by the Bank in its absolute discretion after an Account User makes a formal application.
- 1.5 “The Company” means Okolea International Limited of P.O. Box 41316 – 00100 Nairobi which expression shall where the context so admits include its successors in title and assigns.
- 1.6 “Active User Account” means the account maintained by the Account User with the Company through the Mobile App “OKOLEA” in connection with the Loan transactions.
- 1.7 The Company and the Customer shall together be referred to as the “Parties” and where the context requires individually as a “Party”.
- 1.8 The masculine gender includes the feminine and vice versa.