Lendmark definition

Lendmark means Lendmark Financial Services, LLC, a Georgia limited liability company with its headquarters in Covington, Georgia, its successors and assigns, and its subsidiaries, divisions, groups, affiliates, partnerships and joint ventures, and their directors, officers, managers, agents, and employees.
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Examples of Lendmark in a sentence

  • Net cash provided by investing activities of $63 million for 2016 was primarily due to the SpringCastle Interests Sale, the Lendmark Sale, and the August and December 2016 Real Estate Loan Sales, partially offset by net principal originations of finance receivables held for investment and held for sale.

  • Acquisition-related transaction and integration costs of $108 million and $62 million in 2016 and 2015, respectively, reflected increased costs relating to the OneMain Acquisition and the Lendmark Sale, including branch and system conversions, information technology costs, certain compensation and benefit related costs, and other costs and fees that would not have been incurred in the ordinary course of business.

  • On May 2, 2016, we completed the Lendmark Sale for an aggregate cash purchase price of $624 million.

  • Other expenses increased $689 million in 2016 when compared to 2015 due to the following: • Salaries and benefits increased $314 million primarily due to (i) salaries and benefits of $316 million resulting from the OneMain Acquisition and (ii) an increase in Springleaf average staffing during 2016 prior to the Lendmark Sale.

  • As we did not believe we would be able to consummate the Lendmark Sale prior to April 1, 2016, we requested two extensions of the closing deadline set forth in the Settlement Agreement.

  • Interest income decreased $18 million in 2017 when compared to 2016 due to the net of the following: • Interest income on finance receivables held for sale decreased $56 million in 2017 due to the transfer of our personal loans to finance receivables held for sale in the 2015 period that were sold in the Lendmark Sale in May of 2016.

  • Such sale was effective as of April 30, 2016 and included the sale to Lendmark of personal loans with an unpaid principal balance (“UPB”) as of March 31, 2016 of $600 million.

  • We did not establish an additional reserve for sales recourse obligations associated with the personal loans sold in the Lendmark Sale or our real estate loan sales in 2016 based on the credit quality of the loans sold and the terms of each transaction.

  • Pursuant to the Settlement Agreement, we were required to dispose of the branches to be sold in connection with the Lendmark Sale within 120 days following November 13, 2015, subject to such extensions as the DOJ may approve.

  • OMH entered into a transition services agreement with Lendmark dated as of May 2, 2016 (the “Transition Services Agreement”), and OMH’s and our activities remained subject to the oversight of the Monitoring Trustee appointed by the court pursuant to the Settlement Agreement until the expiration of the Transition Services Agreement.

Related to Lendmark

  • CAFA means the Class Action Fairness Act of 2005, 28 U.S.C. §§ 1711-1715.

  • MiFID II means Directive 2014/65/EU on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU,

  • Wachovia means Wachovia Bank, National Association, a national banking association, and its successors.

  • LCME means Liaison Committee on Medical Education, an organization that accredits educational institutions granting degrees in medicine and surgery. The board approves programs that are accredited by LCME.

  • Lender Parent means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a subsidiary.