Common Contracts
2 similar Backup Servicing Agreement contracts by Prosper Funding LLC
ContractBackup Servicing Agreement • May 5th, 2020 • California
EX-10.25 7 ex10_25.htm EXHIBIT 10.25 Exhibit 10.25 BACKUP SERVICING AGREEMENT This BACKUP SERVICTNG AGREEMENT (the "Agreement"), dated as of January 9, 2014 (the "Effective Date''), is entered into by and between Prosper Funding LLC, a Delaware limited liability company ("PFL"), and First Associates Loan Servicing, LLC, a Delaware limited liability company (the "Backup Servicer"). WHEREAS, PFL owns an online credit platform (the "Platform"), pursuant to which individuals can obtain unsecured consumer loans ("Loans") originated by WebBank, a Utah industrial bank. WHEREAS, PFL funds each Loan by either (i) issuing borrower payment dependent notes ("Notes", and together with "Loans", the «Obligations") that are entirely dependent for payment on payments received on the corresponding Loan (the "Note Channel"); or (ii) agreeing to sell the Loan to certain qualified institutions, provided that PFL is retained as servicer of the Loan (the "Whole Loan Channel"). WHEREAS, PFL desires that Backu
BACKUP SERVICING AGREEMENTBackup Servicing Agreement • March 31st, 2014 • Prosper Funding LLC • Finance services • California
This BACKUP SERVICTNG AGREEMENT (the "Agreement"), dated as of January 9, 2014 (the "Effective Date''), is entered into by and between Prosper Funding LLC, a Delaware limited liability company ("PFL"), and First Associates Loan Servicing, LLC, a Delaware limited liability company (the "Backup Servicer").
