Common use of Legal Actions Affecting Your Account Clause in Contracts

Legal Actions Affecting Your Account. We may comply with any “legal process” such as, without limitation, a writ of attachment, execution, garnishment, levy, restraining order, subpoena, seizure, warrant, administrative order (including child support orders), or other legal process which we believe (correctly or otherwise) to be valid. Please understand that such legal process is the result of a third- party undertaking such actions, and the Bank may need to freeze your Account or take the requested action contained in the legal process documents sent to the Bank. We may place a hold on an Account or freeze some or all of the funds in an Account while we investigate the legal issues and take action we deem necessary to comply with same. It is your responsibility to obtain your own attorney to review and protect your rights and to take action to respond to the legal process to obtain the revocation or withdrawal of the legal process provided to the Bank. If we are not fully reimbursed for our record research, photocopying and handling costs by the party that served the legal process, we may charge such costs to your Account, in addition to our minimum legal process fee. You agree to reimburse us for any cost or expense, including attorney fees, which we incur in responding to legal process related to your Accounts. We may not pay interest on any funds we hold or set aside in response to legal process. You agree that we may honor legal process that is served upon the Bank regardless of the method of service or where your Account or records are maintained. If a bankruptcy or similar proceeding is filed by or against any Account owner, we may place an administrative hold on all or part of the Account balance in which that particular Account owner has an interest while we investigate and or pursue any legal action we deem necessary in connection with the bankruptcy filing. Any legal process we receive is subject to our right of setoff and terms of any security interest we have in the Account. You acknowledge that Accounts opened with trust or fiduciary designations (e.g. XYZ, Inc. - Client Trust Account) may be subject to levies and other legal process against your property unless our records clearly reflect the existence of an express written trust or court order. If the Bank feels that it needs to take actions to freeze an Account, disburse money from an Account, or provide requested documents, it is your responsibility to obtain a court order to stop the Bank from taking the requested actions. Even if a court agrees with your position, the Bank can still undertake its own actions, including possibly interpleading or initiating a similar proceeding or requiring an agreement to be reached by all of the parties or claimants involved in the dispute. Notwithstanding any and all of the above, we may do any of these things without advance notice to you and even if the legal process involves less than all of the signers or owners of an Account. Additionally, legal process served on the Bank will likely cause the Bank to decide that there are conflicting demands or disputes to the funds in the Account, and the Bank can also undertake the other actions identified herein where the Bank is receiving conflicting demands regarding an Account. You agree that we will not be liable to you or to any other person for acting or not acting on any such legal process or for acting or not acting on the directions of any such representative or for placing or not placing temporary or permanent holds, and you indemnify us from and against any and all claims arising from or in any way relating to such action or inaction.

Legal Actions Affecting Your Account. We may comply If we are served with any “legal process” such as, without limitation, a writ of attachment, execution, garnishment, levysubpoena, restraining order, subpoenawrit of attachment or execution, seizurelevy, garnishment, search warrant, administrative or similar order relating to your account (including child support orderstermed “legal action” in this section), or other we will comply with that legal process which action. Or, in our discretion, we believe (correctly or otherwise) to be valid. Please understand that such legal process is may freeze the result of a third- party undertaking such actions, and the Bank may need to freeze your Account or take the requested action contained assets in the account and not allow any payments out of the account until a final court determination regarding the legal process documents sent to the Bankaction. We may place a hold on an Account or freeze some or do these things even if the legal action involves less than all of the you. In these cases, we will not have any liability to you if there are insufficient funds to pay your items because we have withdrawn funds from your account or in any way restricted access to your funds in an Account while we investigate accordance with the legal issues and take action we deem necessary to comply with sameaction. It is your responsibility to obtain your own attorney to review and protect your rights and to take action to respond to the legal process to obtain the revocation Any fees or withdrawal of the legal process provided to the Bank. If we are not fully reimbursed for our record research, photocopying and handling costs by the party that served the legal process, we may charge such costs to your Account, in addition to our minimum legal process fee. You agree to reimburse us for any cost or expense, including attorney fees, which expenses we incur in responding to any legal process related action (including, without limitation, attorneys’ fees and our internal expenses) may be charged against your Account. The list of fees applicable to your Accounts. We Account(s) provided elsewhere may not pay interest on any funds we hold or set aside in response to legal process. You agree specify additional fees that we may honor charge for certain legal process that is served upon the Bank regardless of the method of service or where your Account or records are maintained. If a bankruptcy or similar proceeding is filed by or against any Account owner, we may place an administrative hold on all or part of the Account balance in which that particular Account owner has an interest while we investigate and or pursue any legal action we deem necessary in connection with the bankruptcy filing. Any legal process we receive is subject to our right of setoff and terms of any security interest we have in the Account. You acknowledge that Accounts opened with trust or fiduciary designations (e.g. XYZ, Inc. - Client Trust Account) may be subject to levies and other legal process against your property unless our records clearly reflect the existence of an express written trust or court order. If the Bank feels that it needs to take actions to freeze an Account, disburse money from an Account, or provide requested documents, it is your responsibility to obtain a court order to stop the Bank from taking the requested actions. Even if a court agrees with your positionRESOLUTION OF DISPUTES PLEASE READ THIS PROVISION CAREFULLY. IT AFFECTS YOUR RIGHTS AND WILL IMPACT HOW LEGAL CLAIMS YOU AND WE HAVE AGAINST EACH OTHER ARE RESOLVED, the Bank can still undertake its own actionsIF YOU DO NOT OPT OUT OF THIS ARBITRATION AGREEMENT AS PROVIDED IN SECTION 14(b) BELOW. IF YOU ARE A “COVERED BORROWER” AS DEFINED BY THE MILITARY LENDING ACT (32 C.F.R. § 232, including possibly interpleading or initiating a similar proceeding or requiring an agreement to be reached by all of the parties or claimants involved in the disputeAS AMENDED FROM TIME TO TIME), THIS SECTION 14 (ARBITRATION AGREEMENT) IS NOT APPLICABLE TO YOU AND YOU DO NOT NEED TO TAKE FURTHER ACTION TO OPT OUT. Notwithstanding any and all of the aboveFOR PURPOSES OF THIS SECTION 14 (ARBITRATION AGREEMENT), we may do any of these things without advance notice to you and even if the legal process involves less than all of the signers or owners of an AccountTHE TERMS “WE,” “US,” AND “OUR” INCLUDE LENDINGCLUB BANK, NATIONAL ASSOCIATION, LENDINGCLUB CORPORATION, AND/OR THEIR RESPECTIVE AFFILIATES, RELATED PERSONS OR ENTITIES, AND ANY PREDECESSORS AND SUCCESSORS IN INTEREST; ANY SUBSEQUENT HOLDER OF ANY LOAN YOU OBTAIN; AND ANY ASSIGNEE OF ANY CORRESPONDING LOAN AGREEMENT AND PROMISSORY NOTE. AdditionallyYOU AND WE ACKNOWLEDGE THAT WE AND YOU HAVE A RIGHT TO LITIGATE CLAIMS IN COURT BEFORE A JUDGE OR JURY, legal process served on the Bank will likely cause the Bank to decide that there are conflicting demands or disputes to the funds in the Account, and the Bank can also undertake the other actions identified herein where the Bank is receiving conflicting demands regarding an AccountBUT WILL NOT HAVE THAT RIGHT IF EITHER WE OR YOU ELECT TO HAVE A DISPUTE DECIDED THROUGH ARBITRATION PURSUANT TO THIS ARBITRATION AGREEMENT. You agree that we will not be liable to you or to any other person for acting or not acting on any such legal process or for acting or not acting on the directions of any such representative or for placing or not placing temporary or permanent holds, and you indemnify us from and against any and all claims arising from or in any way relating to such action or inactionYOU AND WE NEVERTHELESS HEREBY KNOWINGLY AND VOLUNTARILY WAIVE OUR RIGHTS TO LITIGATE CLAIMS IN A COURT BEFORE A JUDGE OR JURY UPON ELECTION OF ARBITRATION BY EITHER YOU OR US.

Legal Actions Affecting Your Account. We may If we receive any legal process relating to you or your account, you authorize us to comply with it. "Legal process" means any “legal process” such asdocument that appears to have the force of law that requires us to hold or pay out funds from your account, without limitationincluding a garnishment, a writ of attachment, execution, garnishment, levy, restraining levy or similar order, subpoena, seizure, warrant, administrative order (including child support orders), or other legal process which we believe (correctly or otherwise) . We do not have to be valid. Please understand that such legal process is the result of a third- party undertaking such actions, and the Bank may need to freeze your Account or take the requested action contained in determine whether the legal process documents sent to the Bankwas validly issued or enforceable. We may place If a hold on an Account is in effect, we will continue to charge any applicable fees even though the account cannot be closed. As permitted by law, we will deduct from your balance a Legal Processing Fee or freeze some costs and expenses we incur in complying with the order, or all of the funds in an Account while both. If any action, including administrative proceedings, garnishment, tax levies, restraining orders or another action is brought against you or your account, you will be liable to us for any loss, cost or expense (including attorneys' fees) resulting from our compliance with any legal process. If we investigate the legal issues and take action receive any subpoena, court order or request for information or documents from a government entity or arbitration panel relating to your account, we deem necessary are authorized to comply with same. It is your responsibility to obtain your own attorney to review and protect your rights and to take action to respond to the legal process to obtain the revocation or withdrawal of the legal process provided to the Bankit. If we are not fully reimbursed for our record research, photocopying and handling costs by the party that served the legal processrequired to answer a subpoena or similar order requesting records of your account, we may charge such costs to your Accountyou a Research Fee, less any amount we are paid by the person issuing the subpoena before we deliver our response. Permitted Time for Filing a Lawsuit You must file any lawsuit or arbitration against us within sixty (60) days after the cause of action arises, unless federal or state law or an applicable agreement provides for a shorter time. This limit is in addition to our minimum legal process feelimits on notice as a condition to making a claim. You If applicable law does not permit contractual shortening of the time during which a lawsuit must be filed to a period as short as set forth above, you and we agree to reimburse us for any cost or expense, including attorney fees, which we incur in responding to legal process related to your Accountsthe shortest permitted time under applicable law. We abide by federal and applicable state record retention laws and may not pay interest on dispose of any funds we hold or set aside in response to legal process. You agree records that we may honor legal process retained or preserved for the period set forth in these laws. Any action against us must be brought within the period that is served upon the Bank regardless law requires us to preserve records, unless applicable law or this agreement provides a shorter limitation period. Any action against us on an automatically renewable CD must be brought within the time that the law requires us to preserve records based on the stated maturity date in the most recent record of the method of service or where your Account or records are maintained. If a bankruptcy or similar proceeding is filed by or against any Account owner, we may place an administrative hold on all or part of the Account balance in which that particular Account owner has an interest while we investigate and or pursue any legal action we deem necessary in connection with the bankruptcy filing. Any legal process we receive is subject to our right of setoff and terms of any security interest we have in the Account. You acknowledge that Accounts opened with trust or fiduciary designations (e.g. XYZ, Inc. - Client Trust Account) may be subject to levies and other legal process against your property unless our records clearly reflect the existence of an express written trust or court order. If the Bank feels that it needs to take actions to freeze an Account, disburse money from an Account, or provide requested documents, it is your responsibility to obtain a court order to stop the Bank from taking the requested actions. Even if a court agrees with your position, the Bank can still undertake its own actions, including possibly interpleading or initiating a similar proceeding or requiring an agreement to be reached by all of the parties or claimants involved in the dispute. Notwithstanding any and all of the above, we may do any of these things without advance notice to you and even if the legal process involves less than all of the signers or owners of an Account. Additionally, legal process served on the Bank will likely cause the Bank to decide that there are conflicting demands or disputes to the funds in the Account, and the Bank can also undertake the other actions identified herein where the Bank is receiving conflicting demands regarding an Account. You agree that we will not be liable to you or to any other person for acting or not acting on any such legal process or for acting or not acting on the directions of any such representative or for placing or not placing temporary or permanent holds, and you indemnify us from and against any and all claims arising from or in any way relating to such action or inactionCD.