2022 COMMONWEALTH SEED CAPITAL DISBURSEMENT UNDERTAKING stipinraonaunuwenenthe 1B _ gavel OeAaee 2000, To the beneficiary (Which expression shall include its successors and assigns) vourwamey AMIEPOK EDET ASUPYO of:(ausiness name) AINE —TIPINKK CLopal RESOMECES pusiness addres BS Epiwe Epiee Roxb, CALatne Hereinafter called the “Undersigned” (which expression shall include his/her heirs successors and permitted assigns). WHEREAS small Business Organization wishes to forward your account details to the accounting department for the disbursement of the seed capital of USS5,000 (Five Thousand United States.--Dolars), and requires the Undersigned to furnish the below undertakings with respect to the utiization of the seed capital, Now therefore in consideration af Cammonwealth Grant for Small Businesses making available the seed capital to the Undersigned, the Undersigned hereby undertakes and agrees: - 1. To utilize the seed capital solely for the execution of the business plan according to the statement of utilization and for no other purpose 2, Toprovide evidence of equipment, and other services procured with the seed capital in the form of invoices, letters, and other with the seed capital documents showing satisfactory evidence of procurement 3 To provide photographs of the equipment purchased/installed with the seed capital. 4, To submit monthly financial and non-financial information to Small Business tion in the required format and as may be advised by Small Business Organiza Organization from time to time, 5, To provide quarterly reports on execution of business plan vis-a-vis the milestones.6. To notify Small Business Organization within 2 weeks of effecting any of the following changes: |. Change in composition of board of directors, ii, Change in registered office address, iii, change in its Memorandum &Articles of Association, iv. change in shareholding structure, including any transfer of shares, increase Fr reduction in share capital or any other capital re-organization change that will result in a change in control of the Undersigned or result’ in the Undertaking becoming a subsidiary or affiliate of another entity, vi. Acquisition of another entity or business, vii. Divestment of the whole or any part of your current business. 7. The Undersigned shall not engage in any unlawful or illegal act or business including but not limited to money laundering or the financing of terrorism and shall not utilize any portion of the seed capital for any such activity. The Undersigned hereby confirms that the information provided in the application form of the Undersigned for the seed capital disbursement is true and correct to the best of the knowledge and belief of the Undersigned and that the above undertakings will be binding on the successors and permitted assigns of the Undersigned 13 -\0- 9-099 Beneficiary Signature and date “Approved by and date (Small Business Organization - Nigeria)