1.1. ‘’Advance’’ refers to each advance of money made to Crowd with Us online via the Platform or offline, by way of an unsecured loan to employ under a Term Sheet towards the funding of the Loan specified therein.
1.2. “Borrower” means a person or entity with whom we enter into a Loan Facility Agreement.
1.3. “Claim” means claims, demands, actions, costs and expenses (including but not limited to legal costs and disbursements on a solicitor and own client basis), losses and damages.
1.4. “Completion” means the successful raising of money for a Borrower via the Crowd with Us Website or Offline.
1.5. “Contract” means a contract between the Borrower and Crowd with Us and, on each occasion when a Borrower accedes to these Conditions, that Borrower, based on and incorporating all of the Conditions set out herein.
1.6. “Crowd with Us” means Crowd with Us Limited and all associated companies. Crowd with Us is a trading name for Crowd with Us Limited. Crowd with Us Limited, a private company limited by shares incorporated in England and Wales with company registration number 09243491 and registered office at 27/31 Clerkenwell Close, Clerkenwell, London, EC1R 0AT.
1.7. “CWU Fee” means the fee equivalent to 5% of the total Loan in the Property Project (unless otherwise agreed by Crowd With Us in writing), to be paid by the Borrower in accordance with clause 8 and 9 below.
1.8. “Deed of Adherence” means the deed of adherence set out in the Appendix through which each Borrower accedes to these Conditions.
1.9. “Escrow Account” means, an account set up and maintained by the Payment Firm for the benefit of a Borrower, which is separate from the money of Crowd with Us and the Payment Firm.
1.10. “FCA and Related Rules” means the Financial Services and Markets Act 2000, the Companies Act 2006 and from time to time any amendments, extensions, applications or re-enactments and including any subordinate legislation made under them (including without limitation the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005).
1.11. “Funder” refers to any other person who by virtue of funding arrangements with us is entitled to an interest in a Loan and the benefit of the Trust. Subject to these Conditions and any other terms of the Crowd with Us Website. Funder may include Crowd with Us itself or its associates.
1.12. “Information” means all information provided by the Borrower to Crowd with Us and their officers and members as part of the application by the Borrower to raise funds for a Loan via the Crowd with Us Website or Offline (including without limitation any business plan, Term Sheet, investment information summary (“Information Summary”), financial forecasts, accounts and other information about the Borrower or their respective officers and/or shareholders).
1.13. “Investment” refer to definition of ‘’Advance’’.
1.14. “Loan” means a loan of money by the Company to a Borrower under the terms of a Loan Facility Agreement
1.15. “Loan Facility Agreement” means the agreement we enter into with a Borrower that sets the terms for the making of a Loan, the provision of Security, the repayment of the Loan and payment of interest thereupon and the rights that we have as provider of the Loan, among other matters.
1.16. “Loss” means loss and/or damage (including costs and expenses relating to or arising out of such loss or damage) whether arising from contract, tort (including negligence) or otherwise.
1.17. “Offline” denotes the promotion of the Loan other than via the Crowd with Us Website, in circumstances where Crowd with Us raises money for a Borrower or any other associate of the Borrower through its contacts rather than through persons who register on the Website, or the Borrower, the Borrower or any associated person transacts directly with a Funder in circumstances in which a fee is payable pursuant to clause 9.
1.18. “Payment Firm” means such appropriately authorised person as Crowd with Us may from time to time appoint to discharge the payment functions described in these Conditions, which may be Crowd with Us itself, and which, at the time of this Contract means Leetchi Corp. S.A. incorporated in Luxembourg with company number B173459, authorised as a financial institution by the CSSF under number W00000005 and operating in the UK under the business name “MangoPay”.
1.19. “Property Project” means the particular property project or projects in respect of which the Borrower wishes to raise funds from time to time, details of which are promoted via the Crowd with Us Website, and in respect of which a Borrower is seeking a Loan.