Common use of Posting of Bids Clause in Contracts

Posting of Bids. As a registered Prosper lender, you may post bids on listings displayed on the platform. “Listings” are Prosper borrowers’ loan requests that are displayed on the platform. Listings include the borrower’s requested loan amount, maximum offered interest rate and corresponding yield percentage, and the minimum yield percentage that may be bid on the listing. The yield percentage is the lender member’s effective yield, net of servicing fees. The minimum yield percentage applicable to each listing is based on the Prosper Rating assigned to the listing and will be calculated by adding the national average certificate of deposit rate that matches the term of the loan, as published by XxxxXxxx.xxx, to the minimum estimated loss rate associated with the Prosper Rating assigned to the listing, which estimated loss rate is based on the historical performance of similar Prosper loans. Listings include a Prosper Rating, which is a letter grade that may be based on a custom Prosper score that indicates the level of risk associated with the listing and corresponds to an estimated average annualized loss rate range for the listing. Listings also include other information, including but not limited to, the borrower’s debt-to-income ratio, credit information from the borrower’s credit report, the borrower’s group affiliation (if any), and the borrower’s self-reported annual income range, occupation and employment status. Borrowers are identified by a Prosper user name but are not able to disclose their identity or contact information to lenders. Prosper lenders may ask borrowers questions about their listings and borrowers may, but are not required to, respond to such questions. Borrowers who elect to respond to a lender’s question may respond privately, or they may elect to have the question and answer posted publicly in the listing. Lenders’ questions are not posted in the listing or displayed elsewhere on our website unless the borrower elects to answer the question and elects to make the question and answer publicly available, in which case the question and answer appears in the listing. We do not verify any borrowers’ responses to lender members’ questions. A bid by a lender on a listing is the lender’s commitment to purchase from Prosper a Note in the principal amount of the lender’s winning bid, provided that the listing has received bids totaling the full loan amount requested in the listing. Lenders “bid” the amount they are willing to commit to the purchase of a Note that is dependent for payment on payments we receive on the corresponding borrower loan, and the minimum yield percentage they are willing to receive. Lenders must have funds in the amount of the bid on deposit in the Prosper funding account (described below). Once a bid is placed, it is irrevocable, and during the time a bid is a “winning” bid on the listing, the amount of the bid is not permitted to be withdrawn from the lender’s Prosper funding account. Lender bids become “winning” bids if such bids are in the group of bids for Notes that, in aggregate, correspond to the requested loan amount and are in the lowest yield percentage among all bids placed against the listing.

Posting of Bids. As a registered Prosper lenderUpon registration, you may post bids on listings displayed on the platformProsper website. “Listings” are Prosper borrowers’ loan requests requests, or descriptions of existing borrower loans that are offered for sale by financial institutions registered with Prosper (referred to below as “originators”), that are displayed on the platform. Listings include the borrower’s requested Prosper website along with desired loan amountamount or sales price, maximum offered interest rate and corresponding or yield percentage, and the minimum yield percentage that may be bid on the listing. The yield percentage is the lender member’s effective yield, net of servicing fees. The minimum yield percentage applicable to each listing is based on the Prosper Rating assigned to the listing and will be calculated by adding the national average certificate of deposit rate that matches the term of the loan, as published by XxxxXxxx.xxx, to the minimum estimated loss rate associated with the Prosper Rating assigned to the listing, which estimated loss rate is based on the historical performance of similar Prosper loans. Listings include a Prosper Rating, which is a letter grade that may be based on a custom Prosper score that indicates the level of risk associated with the listing and corresponds to an estimated average annualized loss rate range for the listing. Listings also include other information, including but not limited to, the borrower’s borrower credit grade, non-housing debt-to-income ratio, credit information from the borrower’s credit report, the borrower’s group affiliation (if any), and the borrower’s self-reported (unless otherwise indicated) annual income range, occupation and employment status, and collateral (if any) securing the borrower loan. Borrowers are identified by a Prosper user name but are not able to disclose their identity or contact information to lenders. On listings posted by Prosper borrowers, Prosper lenders may ask borrowers questions about their loan listings and borrowers may, but are not required to, respond to such questions. Borrowers who elect to respond to a lender’s question may respond privately, or they may elect to have the question and answer posted publicly in the listing. Lenders’ questions are not posted in the listing or displayed elsewhere on our website unless the borrower elects to answer the question and elects to make the question and answer publicly available, in which case the question and answer appears in the listing. We do not verify any borrowers’ responses to lender members’ questions. A bid by a lender on a listing is the lender’s commitment to purchase from Prosper a Note in the principal amount of the lender’s winning bid, provided that the listing has received bids totaling the full loan amount requested in the listing. Lenders “bid” the amount they are willing to commit to the purchase of a Note that is dependent for payment on payments we receive on the corresponding borrower loan, and the minimum yield percentage interest rate they are willing to receive. Lenders must have funds in the amount of the bid on deposit in the Prosper funding account (described below). Once a bid is placed, it is irrevocable, and during the time a bid is a “winning” bid on the listing, the amount of the bid is not permitted to be withdrawn from the lender’s Prosper funding account. Lender bids become “winning” bids if such bids are in the group of bids for Notes that, in the aggregate, correspond to the requested principal amount or amount offered for of the corresponding borrower loan amount and are in the lowest yield percentage interest rate among all bids placed against the listing.

Posting of Bids. As a registered Prosper lender, you may post bids on listings displayed on the platform. “Listings” are Prosper borrowers’ loan requests requests, or descriptions of existing borrower loans that are offered for sale by financial institutions registered with Prosper (referred to below as “loan sellers”), that are displayed on the platform. Listings Depending on the type of listing, listings include the borrower’s requested desired loan amount, maximum offered interest rate and corresponding yield percentage, and or the minimum sale price and corresponding yield percentage that may be bid on of the listingborrower loan being offered for sale. The yield percentage is the lender member’s effective yield, net of servicing fees. The minimum yield percentage applicable to each listing is based on the Prosper Rating assigned to the listing and will be calculated by adding the national average certificate of deposit rate that matches the term of the loan, as published by XxxxXxxx.xxx, to the minimum estimated loss rate associated with the Prosper Rating assigned to the listing, which estimated loss rate is based on the historical performance of similar Prosper loans. Listings include a Prosper Rating, which is a letter grade that may be based on a custom Prosper score that indicates the level of risk associated with the listing and corresponds to an estimated average annualized loss rate range for the listing. Listings also include other information, including but not limited to, the borrower’s debt-to-income ratio, credit information from the borrower’s credit report, the borrower’s group affiliation (if any), and the borrower’s self-reported annual income range, occupation and employment status, and collateral (if any) securing the borrower loan. Borrowers are identified by a Prosper user name but are not able to disclose their identity or contact information to lenders. On listings posted by Prosper borrowers, Prosper lenders may ask borrowers questions about their loan listings and borrowers may, but are not required to, respond to such questions. Borrowers who elect to respond to a lender’s question may respond privately, or they may elect to have the question and answer posted publicly in the listing. Lenders’ questions are not posted in the listing or displayed elsewhere on our website unless the borrower elects to answer the question and elects to make the question and answer publicly available, in which case the question and answer appears in the listing. We do not verify any borrowers’ responses to lender members’ questions. A bid by a lender on a listing is the lender’s commitment to purchase from Prosper a Note in the principal amount of the lender’s winning bid, provided that the listing has received bids totaling the full loan amount or sale price requested in the listing. Lenders “bid” the amount they are willing to commit to the purchase of a Note that is dependent for payment on payments we receive on the corresponding borrower loan, and the minimum yield percentage they are willing to receive. Lenders must have funds in the amount of the bid on deposit in the Prosper funding account (described below). Once a bid is placed, it is irrevocable, and during the time a bid is a “winning” bid on the listing, the amount of the bid is not permitted to be withdrawn from the lender’s Prosper funding account. Lender bids become “winning” bids if such bids are in the group of bids for Notes that, in aggregate, correspond to the requested loan amount or sale price of the corresponding borrower loan and are in the lowest yield percentage among all bids placed against the listing.

Posting of Bids. As a registered Prosper lender, you may post bids on listings displayed on the platform. “Listings” are Prosper borrowers’ loan requests that are displayed on the platform. Listings include the borrower’s requested loan amount, maximum offered interest rate and corresponding yield percentage, and the minimum yield percentage that may be bid on the listing. The yield percentage is the lender member’s effective yield, net of servicing fees. The minimum yield percentage applicable to each listing is based on the Prosper Rating assigned to the listing and will be calculated by adding the national average certificate of deposit rate that matches the term of the loan, as published by XxxxXxxx.xxxBxxxXxxx.xxx, to the minimum estimated loss rate associated with the Prosper Rating assigned to the listing, which estimated loss rate is based on the historical performance of similar Prosper loans. Listings include a Prosper Rating, which is a letter grade that may be based on a custom Prosper score that indicates the level of risk associated with the listing and corresponds to an estimated average annualized loss rate range for the listing. Listings also include other information, including but not limited to, the borrower’s debt-to-income ratio, credit information from the borrower’s credit report, the borrower’s group affiliation (if any), and the borrower’s self-reported annual income range, occupation and employment status. Borrowers are identified by a Prosper user name but are not able to disclose their identity or contact information to lenders. Prosper lenders may ask borrowers questions about their listings and borrowers may, but are not required to, respond to such questions. Borrowers who elect to respond to a lender’s question may respond privately, or they may elect to have the question and answer posted publicly in the listing. Lenders’ questions are not posted in the listing or displayed elsewhere on our website unless the borrower elects to answer the question and elects to make the question and answer publicly available, in which case the question and answer appears in the listing. We do not verify any borrowers’ responses to lender members’ questions. A bid by a lender on a listing is the lender’s commitment to purchase from Prosper a Note in the principal amount of the lender’s winning bid, provided that the listing has received bids totaling the full loan amount requested in the listing. Lenders “bid” the amount they are willing to commit to the purchase of a Note that is dependent for payment on payments we receive on the corresponding borrower loan, and the minimum yield percentage they are willing to receive. Lenders must have funds in the amount of the bid on deposit in the Prosper funding account (described below). Once a bid is placed, it is irrevocable, and during the time a bid is a “winning” bid on the listing, the amount of the bid is not permitted to be withdrawn from the lender’s Prosper funding account. Lender bids become “winning” bids if such bids are in the group of bids for Notes that, in aggregate, correspond to the requested loan amount and are in the lowest yield percentage among all bids placed against the listing.