Common use of Purchase and Sale of Notes Clause in Contracts

Purchase and Sale of Notes. At the time a borrower loan is purchased by Prosper, we proceed with the issuance and sale of Notes to the lenders who were the winning bidders on the listing. The purchase price for any Notes you purchase from Prosper through the platform will be the principal amount of the Notes that you commit to purchase. The Notes shall be issued pursuant to an indenture (the “Indenture”) between Prosper and a trustee. Funds in the principal amount of each Note are transferred from each lender’s Prosper funding account to Prosper, as payment of the purchase price for the Note. Prosper will use the proceeds of the sale of each series of Notes to purchase the corresponding borrower loan from WebBank.

Purchase and Sale of Notes. At the same time a borrower loan is purchased by Prosper, we proceed with the issuance and sale of Notes to the lenders who were the winning bidders bid on the related listing. The purchase price for any Notes you purchase from Prosper through of each such Note is the platform will be amount of the purchasing lender's bid. The principal amount of the each Note is equal to its purchase price. All Notes that you commit to purchase. The Notes shall be are issued pursuant to an indenture (the “"Indenture”") between Prosper and a an indenture trustee. Funds in the principal amount of each Note are transferred from each the purchasing lender’s 's Prosper funding account to Prosper, as payment of the purchase price for the Note. Prosper will use the proceeds of the sale of each series of Notes to purchase the corresponding borrower loan from WebBank.

Purchase and Sale of Notes. At the time a borrower loan is funded and purchased by Prosper, we proceed with the issuance and sale of Notes to the lenders who were the winning bidders on the listing. The purchase price for any Notes you purchase from Prosper through the platform will be the principal amount of the Notes that you commit to purchase. The Notes shall be issued pursuant to an indenture (the “Indenture”) between Prosper and a trustee. Funds in the principal amount of each Note are transferred from each lender’s Prosper funding account to Prosper, as payment of the purchase price for the Note. Prosper will use the proceeds of the sale of each series of Notes to purchase the corresponding borrower loan from WebBankWebBank or from the originator, depending on the type of listing involved.

Purchase and Sale of Notes. At the same time a borrower loan is purchased by Prosper, we proceed with the issuance and sale of Notes to the lenders who were the winning bidders bid on the related listing. The purchase price for any Notes you purchase from Prosper through of each such Note is the platform will be amount of the purchasing lender’s bid. The principal amount of the each Note is equal to its purchase price. All Notes that you commit to purchase. The Notes shall be are issued pursuant to an indenture (the “"Indenture”") between Prosper and a an indenture trustee. Funds in the principal amount of each Note are transferred from each the purchasing lender’s 's Prosper funding account to Prosper, as payment of the purchase price for the Note. Prosper will use the proceeds of the sale of each series of Notes to purchase the corresponding borrower loan from WebBank.

Purchase and Sale of Notes. At the time a borrower loan is purchased by Prosper, we proceed with the issuance and sale of Notes to the lenders who were the winning bidders on the listing. The purchase price for any Notes you purchase from Prosper through the platform will be the principal amount of the Notes that you commit to purchase. The Notes shall be issued pursuant to an indenture (the “Indenture”) between Prosper and a trustee. Funds in the principal amount of each Note are transferred from each lender’s Prosper funding account to Prosper, as payment of the purchase price for the Note. Prosper will use the proceeds of the sale of each series of Notes to purchase the corresponding borrower loan from WebBankWebBank or from the loan seller, depending on the type of listing involved.