Expected Take Rate definition
Expected Take Rate means the estimate of the actual number of Loans that are originated and funded as a percentage of the number of Prescreened Offers, taking into account response rates, approval rates, abandoned Applications, and other factors that result in no Loan being funded. The Expected Take Rate will be initially agreed by the Parties, and will be updated by Bank each quarter based on the Parties’ quarterly review of actual performance data of direct mail campaigns.