These terms and conditions shall form an integral part of the Agreement with the client.

1.0. Account Opening

The Client has requested Lotus Capital Limited (“Lotus” or “Fund Manager”) to open an investment account (“the account”) on behalf of the Client.

2.0. Genuineness of instruments

The Client assumes full responsibility for the genuineness, correctness and validity of all negotiable Instruments, receipts and other documents deposited for investment purposes.

3.0. Safe Operation of Account

The Client assumes full responsibility and will ensure safe custody of all print and electronic correspondence issued to/or by Lotus regarding the account. The Client hereby indemnifies Lotus against any loss, damage or liability resulting from its non-compliance with the above.

4.0. Instructions

The Client authorizes Lotus to honour all written instructions executed in accordance with the account mandate. The Client agrees that Lotus may refuse to act on any instruction if: It doubts the authenticity of the instruction or does not consider it to be sufficiently clear. It believes that doing so might cause a breach of any law, regulation, code, order or contractual obligation binding on Lotus or the client. 5.0. Third-Party Enquiries The Client agrees and authorizes Lotus without reservation to make third -party inquiries about its business now or at any time in the future in order to satisfy all required Know Your Customer (“KYC”) obligations statutorily imposed from time to time on financial institutions in the Federal Republic of Nigeria. 6.0. Variation The Client agrees that Lotus in its sole discretion may at any time suspend or vary the terms and conditions of the operation of the account. Lotus will however promptly notify the Client of any suspension of service, changes regarding the operation of the account or applicable charges and tariffs payable by the Client. 7.0 Law These terms and conditions shall be governed in accordance with the laws of the Federal Republic of Nigeria. 8.0. Redemption 8.1. Class B unitholders shall have the right to redeem all or part of the units held by them atthe bid price on any Business Day immediately following receipt of notice of redemption from the Client (“Redemption Notice”). 8.2. Minimum permissible holding for partial redemption is 5 units or such units as may be advised by the Fund Manager from time to time. 8.3 The Fund Manager will transfer redemption proceeds within five (5) Business Days of receipt of Redemption Notice unless otherwise advised. 8.4. Units may be redeemed before the expiration of the minimum investment period provided that the Fund Manager shall be entitled to deduct from the Unitholder’s investment any charges directly incurred as a result of redemption within the minimum investment period. 9.0. Know Your Customer The Client understands and agrees that Lotus is not obligated to open an account where the Client has not provided complete KYC documentation. For the avoidance of doubt, no returns shall be earned on deposited funds before the provision of complete KYC documentation. The client certify that the source of funds are legitimate and not the proceed of any unlawful activity. 10.0 Fees and Charges The Client agrees that Lotus shall set–off against the account any charge(s), tariff(s), deductions or cost associated with the operation of the account. 11.0. Operation of Account 11.1. The Client agrees that the operation of the account is subject to compliance with all laws, regulations, administrative rules and orders which may from time to time be issued by the Federal Government of Nigeria and/ or any other regulatory authorities in Nigeria. 11.2. In consideration of Lotus allowing the Client to operate the account from time to time, the Client hereby undertakes to hold Lotus harmless and keep Lotus indemnified from all losses, cost or damages Lotus may sustain as a result of any default by the Client. 11.3. The Client agrees that Lotus is under no obligation to honour any redemption from Class B unitholders unless there are sufficient funds in the account to cover the value of the said redemption. 11.4. The Client agrees to make every investment in the fund through a financial institution and shall not hand cash to any employee of Fund Manager. Lotus will not accept any liability whatsoever for funds handed to its staff. 11.5. The Client agrees that Lotus shall not be liable for any loss or damages sustained by the Client by reason of the operation of the investment provided such loss or damages were not caused or facilitated by Lotus or any of its staff.