Common use of Loan Funding and Closing Clause in Contracts

Loan Funding and Closing. You may post a loan request on the Site, and LendingClub lender members (“Lender Members”) will be able to review your loan request. Lender Members may commit funds to purchase, in various amounts, Member Payment Dependent Notes (“MPDNs”) that LendingClub may issue to Lender Members who commit funds for your loan request. You acknowledge that a Lender Member’s commitment to purchase a MPDN corresponding to all or a portion of your loan from us does not confer any rights to you. You understand that individual Lender Members make their own decisions whether to commit funds for your loan. LendingClub may also choose to commit funds for all or part of your loan request but is not obligated to do so. If, within 14 days following the posting of your loan request, the aggregate amount of funding commitments through the Site fulfills your loan request (or such lesser amount as you choose to accept), your loan will close unless you notify us in writing of your election to terminate your loan request sufficiently far in advance of loan closing for us to cancel the loan. Full or partial funding of your loan request might be available before the expiration of the 14-day period set forth above. In no event shall we be obligated to notify you of the date upon which your loan may or will fund. If we extend a loan to you, you agree to execute by power of attorney as described below, and be bound by the terms set forth in, the form of promissory note attached as Exhibit A (the “Note”) as to your loan. You agree to execute multiple Notes if we request you do so, provided that the aggregate principal amounts of such Notes shall equal the total amount of your loan. LendingClub will execute your Note(s) on your behalf pursuant to a power of attorney you grant to LendingClub when registering your loan request. You authorize us to disburse the loan proceeds by Automated Clearing House (“ACH”) transfer to your designated account. Following our disbursement of the loan proceeds to you, we will assign the Note(s) and your loan to LendingClub. BY COMPLETING YOUR APPLICATION AND SUBMITTING YOUR LOAN REQUEST, YOU ARE COMMITTING TO OBTAIN A LOAN FROM US IN THE AMOUNT AND ON THE TERMS SET FORTH IN THE DISCLOSURES PROVIDED TO YOU IN CONNECTION WITH YOUR REQUEST, SHOULD YOUR REQUEST BE FUNDED. YOU HAVE NO RIGHT TO RESCIND THE LOAN ONCE MADE BUT YOU MAY PREPAY THE LOAN AT ANY TIME WITHOUT PENALTY. We will not lend you any funds unless and until sufficient commitments are received from Lender Members and/or LendingClub.

Loan Funding and Closing. You may post a loan request on the Site, and LendingClub lender members (“Lender Members”) will be able to review your loan request. Lender Members may commit funds to purchase, in various amounts, Member Payment Dependent Notes (“MPDNs”) MPDNs that LendingClub may issue to Lender Members who commit funds for direct LendingClub to fund your loan request. You acknowledge that a Lender Member’s commitment to purchase a MPDN corresponding to all or a portion of your loan from us does not confer any rights to you. You understand that individual Lender Members make their own decisions whether to commit funds for your loan. LendingClub may also choose to commit funds for fund all or part of your loan request but is not obligated to do so. If, within 14 days following the posting of your loan request, the aggregate amount of funding commitments through the Site fulfills your loan request (or such lesser amount as you choose to accept), your loan will close unless you notify us in writing of your election to terminate your loan request sufficiently far in advance of loan closing for us to cancel the loan. Full or partial funding of your loan request might be available before the expiration of the 14-day period set forth above. In no event shall we be obligated to notify you of the date upon which your loan may or will fund. If we extend a loan to you, you agree to execute by power of attorney as described below, and be bound by the terms set forth in, the form of promissory note attached as Exhibit A (the “Note”) as to your loan. You agree to execute multiple Notes if we request you do so, provided that the aggregate principal amounts of such Notes shall equal the total amount of your loan. LendingClub will execute your Note(s) on your behalf pursuant to a power of attorney you grant to LendingClub when registering your loan request. You authorize us to disburse the loan proceeds by Automated Clearing House (“ACH”) transfer to your designated account. Following our disbursement of the loan proceeds to you, we will assign the Note(s) and your loan to LendingClub. BY COMPLETING YOUR APPLICATION AND SUBMITTING YOUR LOAN REQUEST, YOU ARE COMMITTING TO OBTAIN A LOAN FROM US IN THE AMOUNT AND ON THE TERMS SET FORTH IN THE DISCLOSURES PROVIDED TO YOU IN CONNECTION WITH YOUR REQUEST, SHOULD YOUR REQUEST BE FUNDED. YOU HAVE NO RIGHT TO RESCIND THE LOAN ONCE MADE BUT YOU MAY PREPAY THE LOAN AT ANY TIME WITHOUT PENALTY. We will not lend you any funds unless and until sufficient commitments are received from Lender Members and/or LendingClub.

Loan Funding and Closing. You may post a loan request on the Site, and LendingClub lender members investors (“Lender Members”"Investors") will be able to review your loan request. Lender Members Investors may commit funds to purchase, in various amounts, Member Payment Dependent Notes (“"MPDNs”") that LendingClub may issue to Lender Members Investors who commit funds for your loan request. You acknowledge that a Lender Member’s an Investor's commitment to purchase a MPDN corresponding to all or a portion of your loan from us does not confer any rights to youYou. Investors may also choose to purchase your loan directly from either WBK or LendingClub. You understand that individual Lender Members Investors make their own decisions whether to commit funds for your loan. Finally, LendingClub may also choose to commit funds for all or part of your loan request but is not obligated to do so. IfWe may elect in our sole discretion to give You a partial funding option, if necessary, which means your loan will be funded if it receives commitments totaling less than the full amount of your requested loan (subject to the loan size minimum). If your loan is going to be issued either for the full amount of your listed loan or as a result of any partial funding option available to You, your loan will close and issue within 14 fourteen (14) days following the posting of your loan request, the aggregate amount of funding commitments through the Site fulfills your loan request (or such lesser amount as you choose to accept), your loan will close unless you You notify us in writing of your election to terminate your loan request sufficiently far in advance of the loan closing for us to cancel the loan. Full or partial funding Funding of your loan request might be available before the expiration of the 14-day period set forth above. In no event shall event, will we be obligated to notify you of the date upon which your loan may or will fund. If we extend a loan to you, you agree to execute by power of attorney as described below, and be bound by the terms set forth in, the form of promissory note attached as Exhibit A (the “"Note”") as to your loan. You agree to execute multiple Notes if we request you do so, provided that the aggregate principal amounts of such Notes shall equal the total amount of your loan. LendingClub will execute your Note(s) on your behalf pursuant to a power of attorney you grant to LendingClub when registering your loan request. You authorize us to disburse the loan proceeds by Automated Clearing House (“"ACH”") transfer to your designated accountaccount or on your behalf to your selected designee. Following our disbursement of the loan proceeds to youas set forth above, we will assign the Note(s) and your loan to LendingClub. BY COMPLETING YOUR APPLICATION AND SUBMITTING YOUR LOAN REQUEST, YOU ARE COMMITTING TO OBTAIN A LOAN FROM US IN THE AMOUNT AND ON THE TERMS SET FORTH IN YOUR AGREEMENTS WITH WBK (OR ITS ASSIGNEES) AND THE DISCLOSURES PROVIDED TO YOU IN CONNECTION WITH YOUR REQUEST, SHOULD YOUR REQUEST BE FUNDED. YOU HAVE NO RIGHT TO RESCIND THE LOAN ONCE MADE BUT YOU MAY PREPAY THE LOAN AT ANY TIME WITHOUT PENALTY. We will not lend you any funds unless and until sufficient commitments are received from Lender Members Investors and/or LendingClub.

Loan Funding and Closing. You may post a loan request on the Site, and LendingClub lender members investors (“Lender Members”"Investors") will be able to review your loan request. Lender Members Investors may commit funds to purchase, in various amounts, Member Payment Dependent Notes (“"MPDNs”") that LendingClub may issue to Lender Members Investors who commit funds for your loan request. You acknowledge that a Lender Member’s an Investor's commitment to purchase a MPDN corresponding to all or a portion of your loan from us does not confer any rights to you. Investors may also choose to purchase your loan directly from either WBK or LendingClub. You understand that individual Lender Members Investors make their own decisions whether to commit funds for your loan. Finally, LendingClub may also choose to commit funds for all or part of your loan request but is not obligated to do so. IfHowever, we do not warrant or guarantee that your loan request will be funded or that you will receive a loan as a result of posting your request. We may elect in our sole discretion to give you a partial funding option, if necessary, which means your loan will be funded if it receives commitments totaling less than the full amount of your requested loan (subject to the loan size minimum). If your loan is going to be issued either for the full amount of your listed loan or as a result of any partial funding option available to you, your loan will close and issue within 14 fourteen (14) days following the posting of your loan request, the aggregate amount of funding commitments through the Site fulfills your loan request (or such lesser amount as you choose to accept), your loan will close unless you notify us in writing of your election to terminate your loan request sufficiently far in advance of the loan closing for us to cancel the loan. Full or partial funding Funding of your loan request might be available before the expiration of the 14-day period set forth above. In no event shall event, will we be obligated to notify you of the date upon which your loan may or will fund. If we extend a loan to you, you agree to execute by power of attorney as described below, and be bound by the terms set forth in, the form of promissory note attached as Exhibit A (the “"Note”") as to your loan. You agree to execute multiple Notes if we request you do so, provided that the aggregate principal amounts of such Notes shall equal the total amount of your loan. LendingClub will execute your Note(s) on your behalf pursuant to a power of attorney you grant to LendingClub when registering your loan request. You authorize us to disburse the loan proceeds by Automated Clearing House (“"ACH”") transfer to your designated accountaccount or on your behalf to your selected designee. Following our disbursement of the loan proceeds to youas set forth above, we will assign the Note(s) and your loan to LendingClub. BY COMPLETING YOUR APPLICATION AND SUBMITTING YOUR LOAN REQUEST, YOU ARE COMMITTING TO OBTAIN A LOAN FROM US IN THE AMOUNT AND ON THE TERMS SET FORTH IN YOUR AGREEMENTS WITH WBK (OR ITS ASSIGNEES) AND THE DISCLOSURES PROVIDED TO YOU IN CONNECTION WITH YOUR REQUEST, SHOULD YOUR REQUEST BE FUNDED. YOU HAVE NO RIGHT TO RESCIND THE LOAN ONCE MADE BUT YOU MAY PREPAY THE LOAN AT ANY TIME WITHOUT PENALTY. We will not lend you any funds unless and until sufficient commitments are received from Lender Members Investors and/or LendingClub.

Loan Funding and Closing. You may post a loan request on the Site, and LendingClub lender members investors (“Lender MembersInvestors”) will be able to review your loan request. Lender Members Investors may commit funds to purchase, in various amounts, Member Payment Dependent Notes (“MPDNs”) that LendingClub may issue to Lender Members Investors who commit funds for your loan request. You acknowledge that a Lender Memberan Investor’s commitment to purchase a MPDN corresponding to all or a portion of your loan from us does not confer any rights to you. You understand that individual Lender Members Investors make their own decisions whether to commit funds for your loan. LendingClub may also choose to commit funds for all or part of your loan request but is not obligated to do so. If, within 14 days following the posting of your loan request, the aggregate amount of funding commitments through the Site fulfills your loan request (or such lesser amount as you choose to accept), your loan will close unless you notify us in writing of your election to terminate your loan request sufficiently far in advance of loan closing for us to cancel the loan. Full or partial funding of your loan request might be available before the expiration of the 14-day period set forth above. In no event shall we be obligated to notify you of the date upon which your loan may or will fund. If we extend a loan to you, you agree to execute by power of attorney as described below, and be bound by the terms set forth in, the form of promissory note attached as Exhibit A (the “Note”) as to your loan. You agree to execute multiple Notes if we request you do so, provided that the aggregate principal amounts of such Notes shall equal the total amount of your loan. LendingClub will execute your Note(s) on your behalf pursuant to a power of attorney you grant to LendingClub when registering your loan request. You authorize us to disburse the loan proceeds by Automated Clearing House (“ACH”) transfer to your designated account. Following our disbursement of the loan proceeds to you, we will assign the Note(s) and your loan to LendingClub. BY COMPLETING YOUR APPLICATION AND SUBMITTING YOUR LOAN REQUEST, YOU ARE COMMITTING TO OBTAIN A LOAN FROM US IN THE AMOUNT AND ON THE TERMS SET FORTH IN THE DISCLOSURES PROVIDED TO YOU IN CONNECTION WITH YOUR REQUEST, SHOULD YOUR REQUEST BE FUNDED. YOU HAVE NO RIGHT TO RESCIND THE LOAN ONCE MADE BUT YOU MAY PREPAY THE LOAN AT ANY TIME WITHOUT PENALTY. We will not lend you any funds unless and until sufficient commitments are received from Lender Members Investors and/or LendingClub.