Common use of Software Description Clause in Contracts

Software Description. The Software is Licensor’s automated consumer credit decisioning, processing and servicing software application.  Software description:  The Software is an internet-based consumer credit platform that permits the collection, verification, scoring, evaluation, funding, and servicing of lines of credit.  The Software will include an accounting and loan tracking system to accurately and immediately reflect all Applications, Accounts and related information regarding Accounts to ensure compliance with all applicable laws, rules and regulations.  The Software will also include internet-based financial literacy and training materials for Borrowers that, once reviewed and approved by Licensee, shall be made available on a website hosted by Licensor or an affiliate thereof.  Server hardware requirements:  As of the Effective Date, the Software shall be hosted on a hardware platform located in a data center under contract with Licensor or Licensee as determined by the Parties.

Software Description. The Software is Licensor’s automated consumer credit decisioning, processing and servicing software application.  • Software description:  • The Software is an internet-based consumer credit platform that permits the collection, verification, scoring, evaluation, funding, and servicing of lines of credit.  • The Software will include an accounting and loan tracking system to accurately and immediately reflect all Applications, Accounts and related information regarding Accounts to ensure compliance with all applicable laws, rules and regulations.  • The Software will also include internet-based financial literacy and training materials for Borrowers that, once reviewed and approved by Licensee, shall be made available on a website hosted by Licensor or an affiliate thereof.  • Server hardware requirements:  • As of the Effective Date, the Software shall be hosted on a hardware platform located in a data center under contract with Licensor or Licensee as determined by the Parties.