Your Covenants and Acknowledgements. You understand and acknowledge the following:
Your Covenants and Acknowledgements. YOU AGREE THAT WHEN MAKING BIDS ON LOAN LISTINGS YOU WILL NOT DISCRIMINATE AGAINST ANY BORROWER MEMBER OR GROUP ON THE BASIS OF RACE, COLOR, RELIGION, NATIONAL ORIGIN, SEX, MARITAL STATUS, AGE, SEXUAL ORIENTATION, MILITARY STATUS, THE BORROWER MEMBER’S SOURCE OF INCOME, OR ANY OTHER BASIS PROHIBITED BY AN APPLICABLE FEDERAL, STATE OR LOCAL FAIR LENDING LAW, REGULATION, RULE OR ORDINANCE, INCLUDING WITHOUT LIMITATION THE EQUAL CREDIT OPPORTUNITY ACT AND REGULATION B. YOU AGREE THAT YOU HAVE NO RIGHT TO, AND SHALL NOT, MAKE ANY ATTEMPT, DIRECTLY OR THROUGH ANY THIRD PARTY, TO COLLECT FROM BORROWER MEMBERS ON YOUR NOTES OR THE CORRESPONDING BORROWER LOANS. YOU UNDERSTAND AND AGREE THAT BORROWER MEMBERS MAY DEFAULT ON THEIR PAYMENT OBLIGATIONS UNDER BORROWER LOANS AND THAT SUCH DEFAULTS WILL REDUCE THE AMOUNTS, IF ANY, YOU MAY RECEIVE UNDER THE TERMS OF ANY NOTES YOU HOLD THAT CORRESPOND TO THOSE BORROWER LOANS.
Your Covenants and Acknowledgements. You agree that you have no right to, and shall not, make any attempt, directly or through any third party, to collect from the Borrower Members on your Notes or the corresponding Member Loans. YOU UNDERSTAND AND ACKNOWLEDGE THAT BORROWER MEMBERS MAY DEFAULT ON THEIR PAYMENT OBLIGATIONS UNDER THE MEMBER LOANS AND THAT SUCH DEFAULTS WILL REDUCE THE AMOUNTS, IF ANY, YOU MAY RECEIVE UNDER THE TERMS OF ANY NOTES YOU HOLD ASSOCIATED WITH SUCH MEMBER LOANS. You and LendingClub agree that the Notes are intended to be indebtedness of LendingClub for U.S. federal income tax purposes. You agree that you will not take any position inconsistent with such treatment of the Notes for tax, accounting, or other purposes, unless required by law. You further acknowledge that the Notes will be subject to the original issue discount rules of the Internal Revenue Code of 1986, as amended, as described in the Prospectus. You acknowledge that you are prepared to bear the risk of loss of your entire purchase price for any Notes you purchase.
Your Covenants and Acknowledgements. You agree that You have no right to, and shall not make any attempt, directly or through any third party, to collect from the Obligor on your Notes or the corresponding Investment. You understand and acknowledge that obligors may default on their payment obligations under the investments and that such defaults will reduce the amount, if any, You may receive under the terms of any notes You hold associated with such investments. You also agree that the Notes are intended to be as indebtedness of the Note Issuer only. You agree that You will not take any position inconsistent with such treatment of the Notes for tax, accounting, or other purposes, unless required by law. You acknowledge that You are prepared to bear the risk of loss of your entire purchase price for any CreditSCRIPT Product that You may purchase. You agree that CreditSCRIPT nor any of their respective officers, directors or employees shall be liable to You for any losses, liabilities, costs, damages, and expenses which may be incurred or suffered by You in connection with, or arising from the performance, non-performance or delay in performance by the Loan Issuer save where such Losses arise from the fraud, gross negligence or willful default of CreditSCRIPT. You agree that CreditSCRIPT nor any of their respective officers, directors or employees shall under any circumstances be liable to You for loss of profits or goodwill, anticipated savings, or any type of special indirect or consequential loss arising in connection with any Investment within the Platform or any holding of any Notes.
