Common use of Scorecard Clause in Contracts

Scorecard. The Seller uses some of the above criteria and various other criteria to provide an overall score for the application that reflects a statistical analysis of the risk of advancing the Loan. The lending policies and processes are determined centrally to ensure consistency in the management and monitoring of credit risk exposure. Full use is made of software technology in credit scoring new applications. Credit scoring applies statistical analysis to publicly available data and customer-provided data to assess the likelihood of an account going into arrears. The Seller reserves the right to decline an application that has received a passing score. The Seller does have an appeals process if an applicant believes his or her application to be unfairly denied. It is the Seller's policy to allow only authorised individuals to exercise discretion in granting variances from the scorecard. SCHEDULE 5 POWER OF ATTORNEY IN FAVOUR OF FUNDING 1, FUNDING 2, THE MORTGAGES TRUSTEE, THE FUNDING 1 SECURITY TRUSTEE AND THE FUNDING 2 SECURITY TRUSTEE THIS DEED OF POWER OF ATTORNEY is made on the [*] by: (1) BANK OF SCOTLAND PLC a public limited company incorporated under the laws of Scotland, whose registered office is at The Mound, Edinbur▇▇, ▇▇▇ ▇▇▇ (▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇r SC 327000) (the GRANTOR); IN FAVOUR OF each of: (2) PERMANENT FUNDING (NO. 1) LIMITED whose registered office is at 35 Great ▇▇. ▇▇▇▇▇'▇, ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇ (▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇r 4267660) (FUNDING 1);

Scorecard. The Seller uses some of the above criteria and various other criteria to provide an overall score for the application that reflects a statistical analysis of the risk of advancing the Loan. The lending policies and processes are determined centrally to ensure consistency in the management and monitoring of credit risk exposure. Full use is made of software technology in credit scoring new applications. Credit scoring applies statistical analysis to publicly available data and customer-provided data to assess the likelihood of an account going into arrears. The Seller reserves the right to decline an application that has received a passing score. The Seller does have an appeals process if an applicant believes his or her application to be unfairly denied. It is the Seller's policy to allow only authorised individuals to exercise discretion in granting variances from the scorecard. SCHEDULE 5 POWER OF ATTORNEY IN FAVOUR OF FUNDING 1, FUNDING 2, THE MORTGAGES TRUSTEE, THE FUNDING 1 SECURITY TRUSTEE AND THE FUNDING 2 SECURITY TRUSTEE THIS DEED OF POWER OF ATTORNEY is made on the [*] by: (1) BANK OF SCOTLAND PLC a public limited company incorporated under the laws of Scotland, whose registered office is at The Mound, Edinbur▇▇Edinburgh, ▇▇▇ ▇▇▇ EH1 1YZ (▇▇▇▇▇▇▇registered number SC 327000) (▇▇▇ ▇▇▇▇▇r SC 327000) (the GRANTOR▇); IN FAVOUR OF each of▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇▇ ▇▇: (2) PERMANENT FUNDING (NO. 1) LIMITED whose registered office is at 35 Great ▇▇. St. Helen's, London EC3A 6AP (registered number 4▇▇▇▇▇'▇, ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇ ) (▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇r 4267660) (FUNDING 1);