Interim Interest with respect to any Purchaser Loan, the interest accrued thereon from the Funding Date to the related Closing Date.
Loan means a consumer loan made by Bank to a Borrower under the Program.
Loan Application means the completed paper document or electronic application submitted by the applicable Borrower when requesting a Loan from Bank, together with any exhibits and ancillary materials.
Loan Documents mean, collectively, with respect to any Loan, the Note, the Loan Application and any other documents signed by Borrowers in connection with such Loan.
Loan Premium Fee means the amount per Loan calculated in accordance with Schedule 2 hereto.
Loan Proceeds means, for any Loan, the actual funds disbursed to a Borrower, consisting of the principal amount of such Loan less the related origination fees.
Maximum Monthly Retention Amount means, after excluding Exception-Basis Loans, an amount equal to the lesser of (a) $[***] or (b) [***]% of the aggregate amount of Loans generated under the Program as of such date.
Maximum Outstanding Retention Amount means, after excluding Exception-Basis Loans, an amount equal to $[***].
Note means, with respect to each Loan, the electronic records evidencing the Borrowers obligation with regards to a Loan.
Outstanding Principal Balance means, with respect to any Loan at any date of calculation, the original principal balance owed by the related Borrower, less all payments of principal payments received from Borrower.
Person means any individual, corporation, partnership, limited liability company, joint venture, estate, trust, unincorporated association, any other entity, any Governmental Authority and any fiduciary acting in such capacity on behalf of any of the foregoing.
Program means the activities performed by Purchaser and Bank in connection with the marketing, origination, sale and servicing of Loans under that certain Third Amended and Restated Loan Program Agreement, between the parties hereto, dated on or about the date hereof.
Purchase Price means [***].
Purchaser Loans means all Loans, except for Retained Loans, and shall include (a) any and all security interest of Bank pertaining to the Purchaser Loans, (b) all payments applicable to such Purchaser Loans that are received or receivable and all other amount due or to become due on or after the related Closing Date, (c) any and all servicing rights associated with such Purchaser Loans and (d) all books and records and other rights, interests, benefits, proceeds, remedies and claims arising from or relating to such Purchaser Loan.
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Certain information, as identified by [***], has been excluded from this agreement because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.