Common use of Application Processing Clause in Contracts

Application Processing. Platform Agent shall (i) accept Loan Applications from Loan Applicants, (ii) provide reasonable assistance to each Loan Applicant in completing such Loan Application, (iii) on behalf of Bank, review all completed Loan Applications for compliance with the Credit Policy and Underwriting Procedures, (iv) take appropriate measures to verify the identity of all Loan Applicants consistent with Applicable Laws and the Program Guidelines, (v) take such further steps as it deems reasonably necessary to prevent fraud in connection with the Program and (vi) forward completed Loan Applications that meet the Credit Policy and the Underwriting Procedures and Platform Agent’s standards to Bank (or its designated loan processing agent) electronically or by other appropriate means acceptable to Platform Agent and Bank.

Application Processing. Platform Agent shall (iA) accept Loan Applications from Loan Applicants, (iiB) provide reasonable assistance to each Loan Applicant in completing such Loan Application, (iiiC) on behalf of Bank, review all completed Loan Applications for compliance with the Credit Policy and Underwriting Procedures, (ivD) take appropriate measures to verify the identity of all Loan Applicants consistent with Applicable Laws and the Program Guidelines, (vE) take such further steps as it deems reasonably necessary to prevent fraud in connection with the Program and (viF) forward completed Loan Applications that meet the Credit Policy and the Underwriting Procedures and Platform Agent’s standards to Bank (or its designated loan processing agent) electronically or by other appropriate means acceptable to Platform Agent and Bank.