Document:

EX-10.6

 Exhibit 10.6 

Assignment of Loans 
 Dated 4 June 2021 

MIKRO FUND, managed and represented by MIKRO KAPITAL MANAGEMENT S.A. (the Assignor) 

DELIMOBIL HOLDING S.A. 
 (the Assignee) 

LIMITED LIABILITY COMPANY “CARSHARING RUSSIA”, LIMITED LIABILITY COMPANY “ANYTIME” and SMART MOBILITY MANAGEMENT LIMITED LIABILITY
COMPANY 
 (the Borrowers) 

 Contents 
  

							
	1	  	Definitions and Interpretation	  	 	3	 
	2	  	Assignment	  	 	5	 
	3	  	Investigation and reliance	  	 	5	 
	4	  	Waiver of Notice	  	 	6	 
	5	  	Release	  	 	6	 
	6	  	Costs	  	 	6	 
	7	  	Further assurance	  	 	6	 
	8	  	Governing law and jurisdiction	  	 	6	 
	 Schedule 1—Loan Agreements
	  	 	8	 

 Assignment of Loans 

Dated 4 June 2021 
 Between 

 

	(1)	 MIKRO FUND, a Securitisation Fund managed and represented by MIKRO KAPITAL MANAGEMENT S.A., a
public limited liability company (societe anonyme) organised under the laws of the Grand Duchy of Luxembourg, having its registered address at 10, rue C.M. Spoo, L-2546 Luxembourg, Grand Duchy of
Luxembourg, with registration number B227640 (the Assignor);  

  

	(2)	 DELIMOBIL HOLDING S.A., a public limited liability company (societe anonyme) organised under the
laws of the Grand Duchy of Luxembourg, having its registered address at 10, rue C.M. Spoo, L-2546 Luxembourg, Grand Duchy of Luxembourg, with registration number B250892 (the Assignee); 

  

	(3)	 LIMITED LIABILITY COMPANY “CARSHARING RUSSIA”, a limited liability company organised under the
laws of the Russian Federation, having its registered address at 27 Elektrozavodskaya street, building 1A, floor 1, premises IV, room 26, 107023 Moscow, Russia, with main state registration number (OGRN) 1157746288083 (Carsharing Russia); 

  

	(4)	 LIMITED LIABILITY COMPANY “ANYTIME”, a limited liability company organised under the laws of
the Russian Federation, having its registered address at 27 Elektrozavodskaya street, building 1A, floor 1, premises IV, room 31, 107023 Moscow, Russia, with main state registration number (OGRN) 1127746673988 (Anytime); and

  

	(5)	 SMART MOBILITY MANAGEMENT LIMITED LIABILITY COMPANY, a limited liability company organised under the
laws of the Russian Federation, having its registered address at Yaroslavskoye shosse, estate 1, building 2, floor 1, premises 10, 141009 Moscow, Russia, with main state registration number (OGRN) 1177746246820 (SMM, and together with
Carsharing Russia and Anytime—the Borrowers, and each a Borrower).  

 Recitals 

 

	A.	 The Assignor is the lender under the loan agreements and the noteholder under the promissory note set out in
Schedule 1 (Loan Agreements) (the Loan Agreements).  

  

	B.	 The Assignor has advanced monies to the Borrowers under the Loan Agreements in the amount of the Debt (as
defined below). 

  

	C.	 The Assignor has agreed to assign and transfer all its legal and beneficial right, title and interest in the
Debt and the Loan Agreements to the Assignee on the terms and conditions set out below. 

 It is agreed: 

 

	1	 Definitions and Interpretation 

 

	1.1	 The definitions and rules of interpretation in this clause apply in this agreement. 

Assignment Amount means an amount equal to the aggregate of (without double-counting): 

 

	 	(i)	 the aggregate of the amounts of the principal and interest accrued under the Loan Agreements and outstanding as
at the date when the Assignment Amount is paid by the Assignee to the Assignor under clause 2.2; 

  

	 	(ii)	 the aggregate of the amounts received by the Assignee under the Loan Agreements after the Assignment Date prior
to the date when the Assignment Amount is paid by the Assignee to the Assignor under clause 2.2; and 

  
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	 	(iii)	 interest accrued on the amounts referred to in items (i) and (ii) above at the average ECB’s Marginal
Lending Facility rate increased by 0.5% per annum but in any event no more than 1% per annum for the period between the Assignment Date and the date when the Assignment Amount is paid by the Assignee to the Assignor under clause 2.2,

 to be paid in consideration of the assignment referred to in clause 2.1, to an account nominated by the Assignor or as
the Assignor otherwise directs. 
 Assignment Date means the date of this agreement or any later date agreed in writing by the parties
to this agreement. 
 Assigned Property means all the Assignor’s rights, title, interest and benefits in and to each Loan
Agreement. 
 Business Day means a day (other than a Saturday or Sunday or a public holiday) on which banks are generally open for
business in the Grand Duchy of Luxembourg and the Russian Federation. 
 Debt means any present or future liability (actual or
contingent) payable or owing by the Borrowers to the Assignor under or in connection with the Loan Agreements, including any liability in respect of interest, fees costs and other amounts accrued up to but excluding the Assignment Date. 

Subordination Deed means the subordination deed dated on or about the date of this agreement between the Assignor, the Assignee and
Nevsky Property Finance Ltd. 
  

	1.2	 Clause and Schedule headings shall not affect the interpretation of this agreement. 

 

	1.3	 A reference to a person shall include a reference to an individual, firm, company, corporation,
partnership, unincorporated body of persons, government, state or agency of a state or any association, trust, joint venture or consortium (whether or not having separate legal personality). 

 

	1.4	 Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall
include the singular. 

  

	1.5	 This agreement shall be binding on, and enure to the benefit of, the parties to this agreement and their
respective personal representatives, successors and permitted assigns, and references to a party shall include that party’s successors, permitted assigns and permitted transferees. 

 

	1.6	 A reference to a statute or statutory provision is a reference to it as amended, extended or re-enacted from time to time. 

  

	1.7	 A reference to a statute or statutory provision shall include all subordinate legislation made from time to
time under that statute or statutory provision. 

  

	1.8	 A reference to writing or written includes fax but not email. 

 

	1.9	 An obligation on a party not to do something includes an obligation not to allow that thing to be done.

  

	1.10	 A reference to this agreement (or any provision of it) or to any other agreement or document referred to
in this agreement is a reference to this agreement, that provision or such other agreement or document as amended (in each case, other than in breach of the provisions of this agreement) from time to time. 

 

	1.11	 Unless the context otherwise requires, a reference to a clause or Schedule is to a clause of, or Schedule to,
this agreement. 

  

	1.12	 Any words following the terms including, include, in particular, for example or any
similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms. 

  
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	1.13	 A reference to an amendment includes a novation, re-enactment,
supplement or variation (and amended shall be construed accordingly). 

  

	1.14	 A reference to assets includes present and future properties, undertakings, revenues, rights and
benefits of every description. 

  

	1.15	 A reference to an authorisation includes an approval, authorisation, consent, exemption, filing,
licence, notarisation, registration and resolution. 

  

	2	 Assignment 

  

	2.1	 Assignment of rights 

Subject to the terms of this agreement, the Assignor unconditionally, irrevocably and absolutely assigns and transfers the Assigned Property
and the Debt to the Assignee with effect as of the Assignment Date. 
  

	2.2	 Assignee’s acceptance 

The Assignee agrees to: 
  

	 	(a)	 accept the assignment referred to in clause 2.1; and 

 

	 	(b)	 pay the Assignment Amount in full on the expiry of the Senior Debt Period (as defined in the Subordination
Deed). 

  

	2.3	 Borrowers’ consent 

Each Borrower unconditionally, irrevocably and absolutely acknowledges and, to the extent required, accepts, and provides its consent to, the
assignment by the Assignor to the Assignee of the Assignor’s rights, title, interest and benefits in and to the Debt and each Loan Agreement to which the relevant Borrower is a party. 

 

	3	 Investigation and reliance 

 

	3.1	 The Assignee confirms to the Assignor that it has received such information as it deems appropriate under the
circumstances (however obtained), including information concerning the financial condition, creditworthiness, status or nature of the Borrowers, to make an informed decision regarding the assignment referred to in clause 2.1. 

 

	3.2	 The Assignee agrees that it has made its own independent analysis and decision to enter into this agreement,
based on such information as it has deemed appropriate under the circumstances, and without reliance on the Assignor (except for reliance on any express representation made by the Assignor in this agreement). 

 

	3.3	 On the date of this agreement and the Assignment Date, the Assignor represents and warrants to the Assignee
that: 

  

	 	(a)	 it is a securitisation fund without legal personality duly established in accordance with the provisions of the
Luxembourg law of 22 March 2004 on securitisation, as amended from time to time, validly existing under the law of its jurisdiction of incorporation, managed and represented by Mikro Kapital Management SA, a limited liability company organised
under Luxembourg law with registered office at 10, rue C.M. Spoo, L-2546, Luxembourg, and registered with the Luxembourg Trade and Companies Register (Registre de Commerce et des Sociétés) under
number B227640 which acts as its fiduciary manager; 

  

	 	(b)	 it has the power to own the Debt and the Assigned Property and carry on business as it is being conducted;

  

	 	(c)	 it has the power and authority to enter into, deliver and perform, and has taken all necessary action to
authorise the entry into, delivery and performance of this agreement and each Loan Agreement and the transactions contemplated by them; 

  
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	 	(d)	 it is the sole legal and beneficial owner of, and has good title to, the Debt and the Assigned Property, and no
security interest or other encumbrance (including any rights of set off) exists, or may exist as a result of any arrangement or agreement, over the Debt or the Assigned Property; 

 

	 	(e)	 no event of default (howsoever defined or described in the Loan Agreements) will occur as a result of the
assignment to be effected by this agreement and no decision has been taken by the Assignor to accelerate or enforce its rights under any Loan Agreement; 

  

	 	(f)	 it is not in breach of any of its obligations in relation to any Loan Agreement; and 

 

	 	(g)	 the Assigned Property may be assigned or transferred. 

 

	3.4	 Subject to clause 3.3, the Assignor does not make, and the Assignee does not rely upon, any representation,
warranty or condition (express or implied) about, and the Assignor shall have no liability or responsibility to the Assignee for: 

  

	 	(a)	 the effectiveness, validity or enforceability of the Loan Agreements or other documents delivered by the
Assignor to the Assignee, or any of the terms or conditions contained in the Loan Agreements or other documents; 

  

	 	(b)	 any non-performance by any party to the Loan Agreements or other
documents; or 

  

	 	(c)	 the financial condition, creditworthiness, status or nature of the Borrowers. 

 

	4	 Waiver of Notice 

Each Borrower, by signing this agreement, unconditionally, irrevocably and absolutely acknowledges the assignment of the Debt and the Loan
Agreements to which the relevant Borrower is a party, and unconditionally and irrevocably waives the application of, and its rights to invoke, any notice requirement with respect to such assignment under any Loan Agreement to which the relevant
Borrower is a party. 
  

	5	 Release 

The parties agree that from the Assignment Date the Assignor no longer has any rights in relation to the Debt and under the Loan Agreements
other than those expressly granted in this agreement. 
  

	6	 Costs 

  

	6.1	 Subject to clause 6.2, each party shall pay its own costs and expenses incurred in connection with the
negotiation, preparation, execution and performance of this agreement (and any documents referred to in it). 

  

	6.2	 The Assignee shall pay any stamp duty and other similar duties and taxes (if any) to which this agreement (and
any documents referred to in it) may be subject or may give rise or which may otherwise be payable in connection with the assignment of the Assigned Property. 

 

	7	 Further assurance 

Each party shall promptly execute and deliver such documents and perform such acts as may reasonably be required for the purpose of giving full
effect to this agreement. 
  

	8	 Governing law and jurisdiction 

 

	8.1	 This agreement and any dispute or claim (including non-contractual
disputes or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of the Grand Duchy of Luxembourg. 

  
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	8.2	 Each party irrevocably agrees that the courts of the Grand Duchy of Luxembourg shall have exclusive
jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this agreement or its subject matter or formation. 

This agreement has been entered into on the date stated at the beginning of this agreement. 

  
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 Schedule 1—Loan Agreements 

Part I – Loan agreements between the Assignor as lender and Carsharing Russia as borrower 

 

	1.	 Revolving loan agreement No. 12-05/2020-MF-CR/LA dated 12 May 2020 in respect of the loan with the principal amount of 418,000,000 rubles; 

 

	2.	 Revolving loan agreement No. 28-04/2020-MF-CR/LA dated 28 April 2020 in respect of the loan with the principal amount of 315,000,000 rubles; 

 

	3.	 Revolving loan agreement No. 02-02/2021-MF-CR/LA dated 2 February 2021 in respect of the loan with the principal amount of 302,000,000 rubles; 

 

	4.	 Revolving loan agreement No. 03-12/2019-MF-CR/LA dated 3 December 2019 in respect of the loan with the principal amount of 596,000,000 rubles; 

 

	5.	 Revolving loan agreement No. 05-03/2021-MF-CR/LA dated 5 March 2021 in respect of the loan with the principal amount of 260,000,000 rubles; 

 

	6.	 Revolving loan agreement No. 06-04/2020-MF-CR/LA dated 6 April 2020 in respect of the loan with the principal amount of 497,000,000 rubles; 

 

	7.	 Revolving loan agreement No. 06-11/2019-MF-CR/LA dated 6 November 2019 in respect of the loan with the principal amount of 846,000,000 rubles; 

 

	8.	 Revolving loan agreement No. 12-01/2021-MF-CR/LA dated 12 January 2021 in respect of the loan with the principal amount of 210,000,000 rubles; 

 

	9.	 Revolving loan agreement No. 12-11/2019-MF-CR/LA dated 12 November 2019 in respect of the loan with the principal amount of 411,000,000 rubles; 

 

	10.	 Revolving loan agreement No. 13-04/2021-MF-CR/LA dated 13 April 2021 in respect of the loan with the principal amount of 223,000,000 rubles; 

 

	11.	 Revolving loan agreement No. 14-04/2020-MF-CR/LA dated 14 April 2020 in respect of the loan with the principal amount of 497,000,000 rubles; 

 

	12.	 Revolving loan agreement No. 15-01/2020-MF-CR/LA dated 15 January 2020 in respect of the loan with the principal amount of 528,000,000 rubles; 

 

	13.	 Revolving loan agreement No. 17-11/2020-MF-CR/LA dated 17 November 2020 in respect of the loan with the principal amount of 440,000,000 rubles; 

 

	14.	 Revolving loan agreement No. 19-11/2019-MF-CR/LA dated 19 November 2019 in respect of the loan with the principal amount of 411,000,000 rubles; 

 

	15.	 Revolving loan agreement No. 21-01/2020-MF-CR/LA dated 21 January 2020 in respect of the loan with the principal amount of 528,000,000 rubles; 

 

	16.	 Revolving loan agreement No. 22-06/2020-MF-CR/LA dated 22 June 2020 in respect of the loan with the principal amount of 188,500,000 rubles; 

 

	17.	 Revolving loan agreement No. 24-04/2020-MF-CR/LA dated 24 April 2020 in respect of the loan with the principal amount of 141,000,000 rubles; 

 

	18.	 Revolving loan agreement No. 26-05/2020-MF-CR/LA dated 26 May 2020 in respect of the loan with the principal amount of 411,000,000 rubles; 

 

	19.	 Revolving loan agreement No. 26-11/2019-MF-CR/LA dated 26 November 2019 in respect of the loan with the principal amount of 417,000,000 rubles; 

 

	20.	 Revolving loan agreement No. 29-07/2020-MF-CR/LA dated 29 July 2020 in respect of the loan with the principal amount of 537,000,000 rubles; 

 

	21.	 Revolving loan agreement No. 29-09/2020-MF-CR/LA dated 29 September 2020 in respect of the loan with the principal amount of 440,000,000 rubles; 

 

	22.	 Revolving loan agreement No. 31-12/2019-MF-CR/LA dated 31 December 2019 in respect of the loan with the principal amount of 1,394,000,000 rubles; 

 

	23.	 Revolving loan agreement No. 04-03/2020-MF-CR/LA dated 4 March 2020 in respect of the loan with the principal amount of 446,000,000 rubles; 

  
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	24.	 Revolving loan agreement No. 27-04/2021-MF-CR/LA dated 27 April 2021 in respect of the loan with the principal amount of 200 000 000 rubles; 

 

	25.	 Revolving loan agreement No. 09-08/2019-MF-CR/LA-1 dated 9 August 2019 in respect of the loan with the principal amount of 70,000,000 rubles; 

 

	26.	 Revolving loan agreement No. 12-12/2019-MF-CR/LA dated 12 December 2019 in respect of the loan with the principal amount of 986,000,000 rubles; 

 

	27.	 Revolving loan agreement No. 01-10/2019-MF-CR/LA dated 1 October 2019 in respect of the loan with the principal amount of 298,000,000 rubles; 

 

	28.	 Revolving loan agreement No. 08-10/2019-MF-CR/LA dated 8 October 2019 in respect of the loan with the principal amount of 235,000,000 rubles; 

 

	29.	 Revolving loan agreement No. 25-10/2019-MF-CR/LA dated 25 October 2019 in respect of the loan with the principal amount of 172,000,000 rubles; 

 

	30.	 Revolving loan agreement No. 22-10/2019-MF-CR/LA dated 22 October 2019 in respect of the loan with the principal amount of 343,000,000 rubles; 

 

	31.	 Revolving loan agreement No. 30-10/2019-MF-CR/LA dated 30 October 2019 in respect of the loan with the principal amount of 324,000,000 rubles; 

 

	32.	 Revolving loan agreement No. 09-12/2019-MF-CR/LA dated 9 December 2019 in respect of the loan with the principal amount of 1,103,000,000 rubles; 

 

	33.	 Revolving loan agreement No. 17-12/2019-MF-CR/LA dated 17 December 2019 in respect of the loan with the principal amount of 446,000,000 rubles; 

 

	34.	 Revolving loan agreement No. 04-02/2020-MF-CR/LA dated 4 February 2020 in respect of the loan with the principal amount of 514,000,000 rubles; 

 

	35.	 Revolving loan agreement No. 12-02/2020-MF-CR/LA dated 12 February 2020 in respect of the loan with the principal amount of 815,000,000 rubles; 

 

	36.	 Revolving loan agreement No. 18-02/2020-MF-CR/LA dated 18 February 2020 in respect of the loan with the principal amount of 507,000,000 rubles; 

 

	37.	 Revolving loan agreement No. 26-02/2020-MF-CR/LA dated 26 February 2020 in respect of the loan with the principal amount of 507,000,000 rubles; 

 

	38.	 Revolving loan agreement No. 10-03/2020-MF-CR/LA dated 10 March 2020 in respect of the loan with the principal amount of 1,952,000,000 rubles; 

 

	39.	 Revolving loan agreement No. 23-03/2020-MF-CR/LA dated 23 March 2020 in respect of the loan with the principal amount of 446,000,000 rubles; 

 

	40.	 Revolving loan agreement No. 17-03/2020-MF-CR/LA dated 17 March 2020 in respect of the loan with the principal amount of 446,000,000 rubles; 

 

	41.	 Revolving loan agreement No. 25-03/2020-MF-CR/LA dated 25 March 2020 in respect of the loan with the principal amount of 497,000,000 rubles; 

 

	42.	 Revolving loan agreement No. 19-05/2020-MF-CR/LA dated 19 May 2020 in respect of the loan with the principal amount of 418,000,000 rubles; 

 

	43.	 Loan agreement No. 17-07/2019-MF-CR/LA dated 17 July 2019 in respect of the loan with the principal amount of 70,000,000 rubles; 

 

	44.	 Loan agreement No. 27-06/2019-MF-CR/LA-1 dated 27 June 2019 in respect of the loan with the principal amount of 48,600,000 rubles; 

 

	45.	 Loan agreement No. 24-04/2019-MF-CR/LA dated 24 April 2019 in respect of the loan with the principal amount of 100,000,000 rubles; 

 

	46.	 Loan agreement No. 19-08/2019-MF-CR/LA dated 19 August 2019 in respect of the loan with the principal amount of 92,000,000 rubles; 

 

	47.	 Loan agreement No. 23-08/2019-MF-CR/LA dated 23 August 2019 in respect of the loan with the principal amount of 69,600,000 rubles; 

  
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	48.	 Loan agreement No.
05-10/2018-LA dated 5 October 2018 in respect of the loan with the principal amount of 90,000,000 rubles; 

 

	49.	 Loan agreement No.
02-10/2018-LA dated 2 October 2018 in respect of the loan with the principal amount of 30,000,000 rubles; 

 

	50.	 Loan agreement No.
15-11/2018-LA dated 15 November 2018 in respect of the loan with the principal amount of 60,000,000 rubles; 

 

	51.	 Loan agreement No.
21-11/2018-LA dated 21 November 2018 in respect of the loan with the principal amount of 181,000,000 rubles; 

 

	52.	 Loan agreement No.
05-11/2018-LA dated 5 November 2018 in respect of the loan with the principal amount of 60,000,000 rubles; 

 

	53.	 Loan agreement No. 22-01/2019-MF-CR/LA dated 22 January 2019 in respect of the loan with the principal amount of 160,000,000 rubles; 

 

	54.	 Loan agreement No. 28-01/2019-MF-CR/LA dated 28 January 2019 in respect of the loan with the principal amount of 160,000,000 rubles; 

 

	55.	 Loan agreement No. 09-04/2019-MF-CR/LA dated 9 April 2019 in respect of the loan with the principal amount of 196,500,000 rubles; 

 

	56.	 Loan agreement No. 24-04/2019-MF-CR/LA-1 dated 24 April 2019 in respect of the loan with the principal amount of 79,000,000 rubles; 

 

	57.	 Loan agreement No. 25-04/2019-MF-CR/LA dated 25 April 2019 in respect of the loan with the principal amount of 70,300,000 rubles; 

 

	58.	 Loan agreement No. 06-06/2019-MF-CR/LA dated 6 June 2019 in respect of the loan with the principal amount of 59,200,000 rubles; 

 

	59.	 Loan agreement No. 11-06/2019-MF-CR/LA dated 11 June 2019 in respect of the loan with the principal amount of 217,600,000 rubles; 

 

	60.	 Loan agreement No. 19-06/2019-MF-CR/LA dated 19 June 2019 in respect of the loan with the principal amount of 185,100,000 rubles; 

 

	61.	 Loan agreement No. 27-06/2019-MF-CR/LA dated 27 June 2019 in respect of the loan with the principal amount of 112,100,000 rubles; 

 

	62.	 Loan agreement No. 26-07/2019-MF-CR/LA dated 26 July 2019 in respect of the loan with the principal amount of 73,600,000 rubles; 

 

	63.	 Loan agreement No. 01-08/2019-MF-CR/LA dated 1 August 2019 in respect of the loan with the principal amount of 67,500,000 rubles; 

 

	64.	 Loan agreement No. 09-08/2019-MF-CR/LA dated 9 August 2019 in respect of the loan with the principal amount of 75,500,000 rubles; 

 

	65.	 Loan agreement No. 03-09/2019-MF-CR/LA dated 3 September 2019 in respect of the loan with the principal amount of 109,000,000 rubles; 

 

	66.	 Loan agreement No. 11-09/2019-MF-CR/LA dated 11 September 2019 in respect of the loan with the principal amount of 118,300,000 rubles; 

 

	67.	 Loan agreement No. 17-09/2019-MF-CR/LA dated 17 September 2019 in respect of the loan with the principal amount of 107,900,000 rubles; 

 

	68.	 Novation agreement No.
01-10/2018-Nov dated 1 October 2018 in respect of the loan with the principal amount of 101,726,027.40 rubles; and 

 

	69.	 Novation agreement No. 01-10/2018-CR-MF-NOV (3PN) dated 1 October 2018 in respect of the loan with the principal amount of 314,383,561.65 rubles. 

Part II – Loan agreements between the Assignor as lender and Anytime as borrower 

 

	1.	 Revolving loan agreement No. 14-04/2020-MF-AT/LA dated 14 April 2020 in respect of the loan with the principal amount of 168,000,000 rubles; 

 

	2.	 Revolving loan agreement No. 16-10/2020-MF-AT/LA dated 16 October 2020 in respect of the loan with the principal amount of 25,000,000 rubles; 

  
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	3.	 Revolving loan agreement No. 13-11/2019-MF-AT/LA dated 13 November 2019 in respect of the loan with the principal amount of 192,000,000 rubles; 

 

	4.	 Revolving loan agreement No. 05-03/2021-MF-AT/LA dated 5 March 2021 in respect of the loan with the principal amount of 31,000,000 rubles; 

 

	5.	 Revolving loan agreement No. 17-03/2020-MF-AT/LA dated 17 March 2020 in respect of the loan with the principal amount of 107,000,000 rubles; 

 

	6.	 Revolving loan agreement No. 17-11/2020-MF-AT/LA dated 17 November 2020 in respect of the loan with the principal amount of 28,000,000 rubles; 

 

	7.	 Revolving loan agreement No. 11-02/2020-MF-AT/LA dated 11 February 2020 in respect of the loan with the principal amount of 206,000,000 rubles; 

 

	8.	 Revolving loan agreement No. 20-04/2021-MF-AT/LA dated 20 April 2021 in respect of the loan with the principal amount of 10,000,000 rubles; 

 

	9.	 Revolving loan agreement No. 19-05/2020-MF-AT/LA dated 19 May 2020 in respect of the loan with the principal amount of 209,000,000 rubles; 

 

	10.	 Revolving loan agreement No. 16-12/2019-MF-AT/LA dated 16 December 2019 in respect of the loan with the principal amount of 723,000,000 rubles; 

 

	11.	 Revolving loan agreement No. 16-01/2020-MF-AT/LA dated 16 January 2020 in respect of the loan with the principal amount of 353,000,000 rubles; 

 

	12.	 Revolving loan agreement No. 20-05/2021-MF-AT/LA dated 20 May 2021 in respect of the loan with the principal amount of 8,500,000 rubles; 

 

	13.	 Revolving loan agreement No. 15-10/2019-MF-AT/LA dated 15 October in respect of the loan with the principal amount of 100,000,000 rubles; 

 

	14.	 Loan agreement No. 11-07/2019-MF-A/LA dated 11 July 2019 in respect of the loan with the principal amount of 83,000,000 rubles; 

 

	15.	 Loan agreement No. 12-07/2019-MF-A/LA dated 12 July 2019 in respect of the loan with the principal amount of 94,000,000 rubles; 

 

	16.	 Loan agreement No. 14-06/2019-MF-A/LA dated 14 June 2019 in respect of the loan with the principal amount of 61,200,000 rubles; 

 

	17.	 Loan agreement No. 11-09/2019-MF-AT/LA dated 11 September 2019 in respect of the loan with the principal amount of 207,000,000 rubles; 

 

	18.	 Loan agreement No. 25-02/2019-MF-AT/LA dated 25 February 2019 in respect of the loan with the principal amount of 130,000,000 rubles; 

 

	19.	 Loan agreement No. 07-08/2019-MF-AT/LA dated 7 August 2019 in respect of the loan with the principal amount of 46,400,000 rubles; and 

 

	20.	 Novation agreement No.
1-10/2018-NOV dated 1 October 2018 in respect of the loan with the principal amount of 29,500,548 rubles. 

Part III – Loans of SMM 
  

	1.	 Loan agreement No. 1/10-2011MKP3 the Assignor as lender and GDFK LLC as borrower dated 6 October 2011 (to
the extent that the borrower’s obligations in respect of the loan with the principal amount of 42,065.05 euro under this loan agreement were transferred to SMM under debt transfer agreement between SMM and GDFK LLC dated 25 June 2018);

  

	2.	 Assignment agreement in respect of the loan with the principal amount of 42,898,098.17 rubles and interest of
12,926,174.35 rubles between Mikro Kapital HK Limited as assignor and the Assignor as assignee dated 28 December 2020, under which Mikro Kapital HK Limited assigned to the Assignor claims to SMM under loan agreement No. 2018-07-31-MKHK-SMM between Mikro Kapital HK Limited as lender and SMM as borrower dated
31 July 2018. 

  
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 Signature Page to the Assignment of Loans 

 

					
	 Signed by Vincenzo Trani, director,

authorised for Delimobil Holding
 S.A.
	  		  	
		  		  	
	/s/: Vincenzo Trani	  		  	

  

 Signature Page to the Assignment of Loans 

 

					
	Signed by Vincenzo Trani, director,
authorised for Mikro Kapital
Management S.A., managing and
representing Mikro Fund	  		  	
		  		  	
	/s/: Vincenzo Trani	  		  	

 Signature Page to the Assignment of Loans 

 

					
	 Signed by Elena Bekhtina, general 

director, authorised for Limited
Liability Company “Carsharing
Russia”
	  		  	
		  		  	
	/s/: Elena Bekhtina	  		  	

 Signature Page to the Assignment of Loans 

 

					
	 Signed by Andrey Derzhavets,
general director, authorised for
Limited Liability Company

“Anytime”
	  		  	
		  		  	
	/s/: Andrey Derzhavets	  		  	

 Signature Page to the Assignment of Loans 

 

					
	 Signed by Igor Panibratets, general
director, authorised for Smart
Mobility Management Limited
Liability
Company
  
 /s/: Igor PanibratetsEX-10.7

 Exhibit 10.7 

Subordination deed 
 Dated 4 June 2021 

Delimobil Holding S.A. 
 (the Assignee)  

MIKRO FUND, managed and represented by MIKRO KAPITAL MANAGEMENT S.A. 

(the Assignor) 
 NEVSKY PROPERTY FINANCE LTD. 

(the Senior Creditor) 

 Contents 
  

							
			
	1	  	 Definitions and interpretation
	  	 	1	 
			
	2	  	 Status of the Assignee
	  	 	3	 
			
	3	  	 Subordination of Subordinated Debt
	  	 	4	 
			
	4	  	 Senior Creditor and Senior Debt
	  	 	4	 
			
	5	  	 Assignee undertakings
	  	 	4	 
			
	6	  	 Assignor’s undertakings
	  	 	4	 
			
	7	  	 Conversion into equity
	  	 	5	 
			
	8	  	 Turnover
	  	 	5	 
			
	9	  	 Protection of subordination
	  	 	6	 
			
	10	  	 Preservation of Subordinated Debt
	  	 	7	 
			
	11	  	 Amendments
	  	 	7	 
			
	12	  	 Waivers and consents
	  	 	7	 
			
	13	  	 Miscellaneous
	  	 	8	 
			
	14	  	 Notices
	  	 	8	 
			
	15	  	 Assignments
	  	 	9	 
			
	16	  	 Counterparts
	  	 	9	 
			
	17	  	 Governing law and enforcement
	  	 	10	 

 Subordination deed 

Dated 4 June 2021 
 Between  

 

	(1)	 DELIMOBIL HOLDING S.A., a public limited liability company (société anonyme)
organised under the laws of the Grand Duchy of Luxembourg, having its registered address at 10, rue C.M. Spoo, L-2546 Luxembourg, Grand Duchy of Luxembourg, with registration number B250892 (the
Assignee); 

  

	(2)	 MIKRO FUND, a Securitisation Fund managed and represented by MIKRO KAPITAL MANAGEMENT S.A., a
public limited liability company (société anonyme) organised under the laws of the Grand Duchy of Luxembourg, having its registered address at 10, rue C.M. Spoo, L-2546 Luxembourg, Grand
Duchy of Luxembourg, with registration number B227640 (the Assignor); and 

  

	(3)	 NEVSKY PROPERTY FINANCE LIMITED, a company organised under the laws of the Republic of Cyprus, having
its registered address at 30 Ekaterinis Kornarou street, 3rd floor, Stovolos 2024, Nicosia, Cyprus, with registration number HE193313 (the Senior Creditor, together with the Assignor, the Creditors). 

Recitals 
  

	A.	 Pursuant to the Assignment Agreement (as defined below), the Assignor has, amongst other things, assigned its
rights under certain loan agreements to the Assignee. 

  

	B.	 The Assignee and the Creditors have agreed to enter into this Deed to regulate the respective claims of the
Creditors against the Assignee. 

 This deed witnesses 
  

	1	 Definitions and interpretation 

 

	1.1	 Definitions 

In this Deed: 
 Assignment
Agreement means the assignment agreement dated on or about the date of this Deed between the Assignor, the Assignee, limited liability company “Carsharing Russia”, limited liability company “Anytime” and Smart Mobility
Management limited liability company, pursuant to which the Assignor assigns and transfers to the Assignee all its legal and beneficial right, title and interest in the Debt and the Loan Agreements (each, as defined in such assignment agreement).

 Business Day means a day (other than a Saturday or Sunday or a public holiday) on which banks are generally open for business in
the Grand Duchy of Luxembourg and the Republic of Cyprus. 
 Creditor Debt means the Senior Debt and the Subordinated Debt. 

Document means the Senior Document or the Junior Document. 

  
 Page 1 

 Enforcement Action means: 

 

	 	(a)	 the acceleration of any Creditor Debt or the making of any declaration that any Creditor Debt is prematurely
due and payable in accordance with its terms; 

  

	 	(b)	 taking any step to: 

  

	 	(i)	 start or join any legal or arbitration proceedings to recover any Creditor Debt; 

 

	 	(ii)	 exercise any right of set-off or combination of accounts in relation to
any Creditor Debt; or 

  

	 	(iii)	 exercise any right to require a person to acquire any Creditor Debt; 

 

	 	(c)	 taking any corporate action, legal proceedings or other procedure or step (including making an application,
presenting a petition, filing or serving a notice or passing a resolution) in relation to: 

  

	 	(i)	 the Assignee suspending payments on any of its debts, or any moratorium of any indebtedness of the Assignee;

  

	 	(ii)	 a composition, compromise, assignment or arrangement with the Assignee or any creditor of the Assignee;

  

	 	(iii)	 the winding-up, dissolution, administration or reorganisation (by
voluntary arrangement, scheme of arrangement or otherwise) of the Assignee; 

  

	 	(iv)	 appointing a liquidator, supervisor, receiver, administrator, administrative receiver, compulsory manager,
trustee or other similar officer in respect of the Assignee or any of its assets; 

  

	 	(v)	 any analogous procedure or steps taken in any jurisdiction; or 

 

	 	(vi)	 taking any other step to recover any Creditor Debt. 

Junior Document means the Assignment Agreement. 

Security means a mortgage, charge, pledge, lien, assignment by way of security, retention of title provision, trust or flawed asset
arrangement (for the purpose of, or which has the effect of, granting security) or other security interest securing any obligation of any person or any other agreement or arrangement in any jurisdiction having a similar effect. 

Senior Debt means all liabilities of the Assignee to the Senior Creditor under the Senior Document. 

Senior Debt Period means the period starting on the date of this Deed and ending on the earlier of: 

 

	 	(a)	 the date on which the Senior Debt has been fully and finally discharged; 

 

	 	(b)	 the date on which any Liquidity Event (as defined in the Senior Document) is completed; or

  

	 	(c)	 31 January 2024. 

  
 Page 2 

 Senior Document means the shareholders agreement entered into by and between the
Senior Creditor, the other shareholders of the Assignee named therein and the Assignee, including the Assignor, in relation to the Assignee on or around the date of this Deed. 

Subordinated Debt means all liabilities of the Assignee to the Assignor under the Assignment Agreement. 

 

	1.2	 Interpretation 

In this Deed, unless otherwise indicated: 
  

	 	(a)	 the headings of Clauses are for ease of reference only; 

 

	 	(b)	 any reference: 

  

	 	(i)	 to any document or other agreement, shall be deemed to include references to such document as amended,
extended, novated, supplemented or replaced from time to time; 

  

	 	(ii)	 to liabilities includes any obligation, whether: 

 

	 	(A)	 incurred as principal or as surety; 

 

	 	(B)	 in respect of indebtedness or not; 

 

	 	(C)	 present or future, or actual or contingent; or 

 

	 	(D)	 owed jointly or severally or in any other capacity, 

and any reference to liabilities owed to a person includes liabilities assigned or transferred to, or otherwise acquired by, that person at
any time; 
  

	 	(iii)	 to the Assignee, the Senior Creditor and the Assignor shall be deemed to include their successors, transferees
and assigns (in the case of the Assignee and the Assignor, to the extent permitted pursuant to this Deed); 

  

	 	(iv)	 to the words include(s) or including shall be construed as being by way of illustration or
emphasis only and shall not be construed as, nor shall they take effect as, limiting the generality of any preceding words; and 

  

	 	(v)	 to a Creditor recovering any liability, includes the amount of that liability being reduced by set-off. 

  

	2	 Status of the Assignee 

 

	2.1	 Purpose of entering this Deed 

The Assignee enters into this Deed to acknowledge the arrangements between the Creditors and to give certain undertakings to the Creditors.

  

	2.2	 Reliance 

No undertaking of a Creditor in this Deed is for the benefit of, or is enforceable by, the Assignee. 

  
 Page 3 

	3	 Subordination of Subordinated Debt 

The Subordinated Debt is subordinated to the Senior Debt under, and subject to the terms of, this Deed. 

 

	4	 Senior Creditor and Senior Debt 

 

	4.1	 Amendments to the Senior Document 

The Assignor agrees that the Senior Creditor may amend, waive or supplement the terms of the Senior Document in accordance with its terms at
any time. 
  

	4.2	 Enforcement by Senior Creditor 

The Assignor agrees that: 
  

	 	(a)	 nothing in this Deed prevents the Senior Creditor from taking any Enforcement Action in relation to the Senior
Debt at any time; 

  

	 	(b)	 the Senior Creditor has no obligation to take any Enforcement Action in any circumstances; and

  

	 	(c)	 the Senior Creditor may exercise any rights and discretions (including the giving or refusal of consents) and
perform its duties under the Senior Document in the manner it sees fit and solely having regard to its own interests. 

  

	5	 Assignee undertakings 

 

	5.1	 During the Senior Debt Period, the Assignee must not, without the consent of the Senior Creditor:

  

	 	(a)	 make, or help or authorise any other person to make, any payment of any Subordinated Debt, in cash or in kind;

  

	 	(b)	 buy or otherwise acquire, or allow any subsidiary of it to buy or otherwise acquire, any Subordinated Debt;

  

	 	(c)	 discharge or seek to discharge any Subordinated Debt by set-off,
combination of accounts or otherwise; 

  

	 	(d)	 create or allow to subsist any Security over any of its assets for any Subordinated Debt;

  

	 	(e)	 agree to any amendment to the Junior Document; 

 

	 	(f)	 give any financial support (including taking any participation, giving any guarantee, or making any deposit or
payment) to any person in respect of the Subordinated Debt or to enable any person to do so; or 

  

	 	(g)	 take any action which might prejudice the priorities and subordination which this Deed contemplates.

  

	6	 Assignor’s undertakings 

The undertakings in this Clause 6 remain in force during the Senior Debt Period. 

  
 Page 4 

	6.1	 Negative undertakings 

The Assignor must not, without the consent of the Senior Creditor: 
  

	 	(a)	 take any Enforcement Action; 

 

	 	(b)	 assign or purport to assign or transfer any Subordinated Debt to the Assignee, or to any subsidiary of the
Assignee; 

  

	 	(c)	 take or allow to subsist any Security or any financial support (including any participation, guarantee or any
deposit) for, or in respect of, any Subordinated Debt; or 

  

	 	(d)	 take any action which might prejudice the priorities and subordination which this Deed contemplates.

  

	6.2	 Information about the Subordinated Debt 

 

	6.2.1	 The Assignor shall promptly notify the Senior Creditor of any amendment to the Junior Document and, at the
Senior Creditor’s request, shall promptly deliver to the Senior Creditor a copy of such amendment. 

	

	6.2.2	 At the request of the Senior Creditor, the Assignor shall promptly notify it of the amount of the Subordinated
Debt, and of any other information about the Subordinated Debt the Senior Creditor may reasonably request. 

  

	7	 Conversion into equity 

Notwithstanding anything in this Deed, the Assignor and the Assignee may at any time capitalise the Subordinated Debt or any part of it by way
of contributing it into equity of the Assignee without the issuance of shares, and the Assignor and the Assignee may take all actions that are necessary for such conversion. 
  

	8	 Turnover 

  

	8.1	 Turnover obligation 

If the Assignor receives or recovers any amount on account of or in relation to the Subordinated Debt during the Senior Debt Period, it must
promptly: 
  

	 	(a)	 pay to the Senior Creditor an amount of that receipt or recovery equal to the then outstanding Senior Debt (as
certified by the Senior Creditor) or, if less, the amount received or recovered, for application towards the Senior Debt; and 

  

	 	(b)	 if the receipt or recovery exceeds the then outstanding Senior Debt (as certified by the Senior Creditor), pay
back to the Assignee an amount equal to that excess. 

  

	8.2	 Trust 

If the Assignor holds any amount which, under the terms of Clause 8.1 (Turnover obligation) it must pay to the Senior Creditor,
the Assignor will hold that amount on trust for the Senior Creditor until it has done so. 

  
 Page 5 

	9	 Protection of subordination 

 

	9.1	 Continuing subordination 

The subordination provisions in this Deed constitute a continuing subordination and will extend to the ultimate balance of sums payable by the
Assignee to the Senior Creditor under the Senior Document, regardless of any intermediate payment or discharge in whole or in part. 
  

	9.2	 Waiver of defence 

The provisions of this Deed will not be affected by an act, omission, matter or thing which, but for this Clause 9.2, would reduce, release or
prejudice the subordination and priorities expressed to be created by this Deed including (whether or not known to any party): 
  

	 	(a)	 any time, waiver or consent granted to, or composition with, the Assignee or other person;

  

	 	(b)	 the release of the Assignee or any other person under the terms of any composition or arrangement with any
creditor of the Assignee; 

  

	 	(c)	 the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up
or enforce, any rights against, or security over assets of, the Assignee or other person or any non presentation or non observance of any formality or other requirement in respect of any instrument or any failure to realise the full value of any
Security; 

  

	 	(d)	 any incapacity or lack of power, authority or legal personality of or dissolution or change in the members or
status of the Assignee or other person; 

  

	 	(e)	 any amendment, novation, supplement, extension (whether of maturity or otherwise) or restatement (in each case,
however fundamental and of whatsoever nature, and whether or not more onerous) or replacement of a Document or any other document or security; 

  

	 	(f)	 any unenforceability, illegality or invalidity of any obligation of any person under any Document or any other
document or security; 

  

	 	(g)	 any intermediate payment or other discharge of any of the Senior Debt in whole or in part; or

  

	 	(h)	 any insolvency or similar proceedings. 

 

	9.3	 Non-competition 

During the Senior Debt Period, the Assignor shall not, unless the Senior Creditor otherwise directs, exercise any right which it may have by
reason of performance by it of its obligations under this Deed or by reason of any amount being payable, or liability arising under Clause 8 (Turnover): 
  

	 	(a)	 to be indemnified by the Assignee or of contribution against any person; 

 

	 	(b)	 to take the benefit (whether by way of subrogation of otherwise) of any rights of, or Security held by, the
Senior Creditor; 

  
 Page 6 

	 	(c)	 to claim, rank, prove or vote as a creditor of the Assignee or its estate in competition with the Senior
Creditor; or 

  

	 	(d)	 receive, claim or have the benefit of any payment, distribution or Security from or on account of the Assignee.

  

	10	 Preservation of Subordinated Debt 

 

	10.1	 Preservation and accrual of Subordinated Debt 

Notwithstanding any term of this Deed postponing, subordinating or preventing the payment of the Subordinated Debt: 

 

	 	(a)	 the Subordinated Debt shall remain owing or due and payable; and 

 

	 	(b)	 interest, default interest, indemnity and other payments will accrue on the Subordinated Debt,

 in accordance with the terms of the Junior Document. 

 

	10.2	 No waiver 

No failure to exercise, nor any delay in exercising, any right or remedy in respect of the Subordinated Debt because of any term of this Deed
shall operate as a permanent waiver of them. 
  

	11	 Amendments 

  

	11.1	 Amendments in writing 

Subject to Clause 11.2, no amendment to this Deed shall be effective unless it is in writing and signed by, or on behalf of, each party to this
Deed. 
  

	11.2	 Amendments agreed between Creditors only 

The Creditors may amend this Deed without the consent or involvement of the Assignee, if the amendment does not relate to the obligations of
the Assignee under this Deed. 
  

	12	 Waivers and consents 

 

	12.1	 Must be in writing 

Any consent or waiver given by a party under or in connection with this Deed will only be effective if it is in writing. Waiver of one breach
does not waive or imply waiver of any further or other breach. 
  

	12.2	 Limited exercise is not a waiver 

No failure to exercise, no delay in exercising and no single or partial exercise of a party’s right or remedy in relation to this Deed
shall: 
  

	 	(a)	 adversely affect that right or remedy; 

 

	 	(b)	 waive it; or 

  
 Page 7 

	 	(c)	 prevent any further exercise of it or of any other right or remedy, 

except to the extent the parties have expressly agreed otherwise in writing. 

 

	13	 Miscellaneous 

 

	13.1	 Interest on overdue amounts 

If the Assignor fails to pay any amount payable by it to the Senior Creditor under this Deed on its due date, interest shall accrue on the
overdue amount: 
  

	 	(a)	 daily; 

  

	 	(b)	 from the due date until the date of payment (both before and after judgment); and 

 

	 	(c)	 at 5% per cent per annum. 

Any interest accruing under this Clause shall be immediately payable on demand of the Senior Creditor. 

 

	13.2	 No prejudice 

The Senior Creditor’s rights under this Deed are in addition to and shall not prejudice or affect any security or any other right or
remedy in respect of the Senior Debt, whether from the Assignee or any guarantor or surety. 
  

	13.3	 Information 

The Assignee consents to the disclosure by either Creditor to the other Creditor of any information about the Assignee. 

 

	14	 Notices 

  

	14.1	 Communications in writing 

Any communication under or in connection with this Deed shall be in writing and, unless otherwise stated, may be made by fax or letter. 

 

	14.2	 Addresses 

  

	14.2.1	 The address and fax number (and the department or officer, if any, for whose attention the communication is to
be made) of each party for any communication or document to be made or delivered under or in connection with this Deed is that identified with its name below or any substitute address, fax number or department or officer as either party may notify
to the other by not less than five Business Days’ notice. 

  

	14.2.2	 The addresses referred to in Clause 14.2.1 are: 

 

	 	(a)	 The Assignee: 

address: 10, rue C.M. Spoo, 2546 Luxembourg, the Grand Duchy of Luxembourg 

for the attention of: Elena Bekhtina 

fax number: +352 269 763 05 

  
 Page 8 

	 	(b)	 The Assignor: 

address: 10, rue C.M. Spoo, 2546 Luxembourg, the Grand Duchy of Luxembourg 

for the attention of: Elena Bekhtina 

fax number: +352 269 763 05 
  

	 	(c)	 The Senior Creditor: 

address: VTB Capital, Federation Tower West, 12, Presnenskaya emb., Moscow, 123112 

for the attention of: Stepan Natalevich and Yuri Gordeev 
  

	14.3	 Delivery 

  

	14.3.1	 Any communication or document made or delivered by one person to another under or in connection with this Deed
will only be effective: 

  

	 	(a)	 if by way of fax, when received in legible form; or 

 

	 	(b)	 if by way of letter, (i) when it has been left at the relevant address or (ii) two Business Days (or,
in the case of airmail, five Business Days) after being deposited in the post postage prepaid (or, as the case may be, airmail postage prepaid), in an envelope addressed to it at that address, 

and, if a particular department or officer is specified as part of its address details provided under Clause 14.2 (Addresses), if
addressed to that department or officer. 
  

	15	 Assignments 

  

	15.1	 Assignor 

The Assignor may not assign or otherwise dispose of: 
  

	 	(a)	 any Subordinated Debt: or 

 

	 	(b)	 any of its rights under this Deed or any Junior Document, 

without the consent of the Senior Creditor. 
  

	15.2	 Senior Creditor 

The Senior Creditor may assign or otherwise dispose of any of its rights under this Deed to any person to whom it assigns or transfers any of
its rights or obligations under the Senior Document. 
  

	16	 Counterparts 

This Deed may be executed in any number of counterparts, and this has the same effect as if the signatures on the counterparts were on a single
copy of this Deed. 

  
 Page 9 

	17	 Governing law and enforcement 

 

	17.1	 Governing law 

This Deed and all non-contractual obligations arising from or connected with this Deed (excluding the
arbitration agreement in Clause 17.2) shall be governed by and construed, in all respects, in accordance with laws of England and Wales. 
  

	17.2	 Arbitration 

  

	 	17.2.1	 The parties agree that any dispute arising out of, or in connection with, this Deed, including any question
regarding its existence, validity or termination (each, a Dispute) shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (the SIAC Court) in accordance with the
Arbitration Rules of the Singapore International Arbitration Centre (the Rules) for the time being in force, which rules are deemed to be incorporated by reference in this Clause 17.2) . 

 

	 	17.2.2	 The arbitration shall be conducted by three (3) arbitrators. The claimant(s) shall nominate one
arbitrator, the respondent(s) shall nominate one arbitrator, and the two party-nominated arbitrators shall (in each case, in consultation with the relevant nominating party) within 15 calendar days of the confirmation of the nomination of the second
arbitrator, nominate the third, presiding arbitrator, who shall serve as chairman. Notwithstanding anything to the contrary in the Rules, in agreeing upon the third arbitrator, the two arbitrators appointed by the parties may communicate directly
with each other and with their respective appointing parties. If any arbitrator has not been nominated within the time limits specified in this Deed and in the Rules, then such arbitrator shall be nominated and appointed by the SIAC Court
expeditiously in accordance with the Rules. If this Clause operates to exclude a party’s right to choose its own arbitrator, each party irrevocably and unconditionally waives any right to do so. If an appointed arbitrator may not continue to
act as an arbitrator of such panel, the party(ies) that appointed such arbitrator shall have the right to appoint a replacement arbitrator in accordance with the provisions of this Clause. 

 

	 	17.2.3	 The seat of arbitration shall be Singapore. The arbitration proceedings shall be conducted and the award or
decision (the Award) of the arbitrators shall be rendered in the English language. 

  

	 	17.2.4	 The arbitrators shall have the authority to assess the costs and expenses of the arbitration proceeding
(including attorneys’ fees and expenses) against one or more parties in whatever manner or allocation the arbitrators deem appropriate. 

  

	 	17.2.5	 The arbitral tribunal shall have the power to order on a provisional basis any relief which it would have power
to grant in a final award. 

  

	 	17.2.6	 The Award shall be final and binding upon the parties as from the date rendered, and shall be the sole and
exclusive remedy between the parties regarding any Disputes presented to the arbitral tribunal. Judgment upon any Award may be entered in any court of competent jurisdiction. 

 

	 	17.2.7	 The law of the arbitration agreement shall be laws of the Republic of Singapore. 

This Deed has been entered into on the date stated at the beginning of this Deed. It has been executed as a deed by the parties and delivered by them as a
deed on that date. 

  
 Page 10 

 Signature Page to the Subordination deed 

 

					
	 Executed as a deed by Vincenzo Trani,
	  		  	
	 a director, for and on behalf of
	  	
	 Mikro Kapital Management S.A.
	  	
	 in its capacity as manager of
	  	
	 Mikro Fund
	  	
		  		  	
	 /s/: Vincenzo Trani
	  		  	

 Signature Page to the Subordination deed 

 

					
	 Executed as a deed by
	  		  	
	 DELIMOBIL HOLDING S.A. acting by
	  	
	 Vincenzo Trani being a person who in
	  	
	 accordance with the law of the Grand Duchy
	  	
	 of Luxembourg is acting under the authority
	  		  	
	 of the company
	  		  	
		  		  	
	/s/: Vincenzo Trani	  		  	

  

					
	 Signature Page to the Subordination deed
  

Executed as a deed by
 Nevsky Property Finance Limited

acting by VTB capital PE lnvestment
 Holding (Cyprus) Limited, a
director,
 acting by Sophocles Sophocleous, a director
	 		  	

		 		  	
	/s/: Sophocles Sophocleous

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