On Deck definition
Examples of On Deck in a sentence
Notice to Lender may be sent to our Servicer: On Deck Capital, ▇▇▇ ▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Attn: Director of Operations.
On Deck may immediately terminate this Agreement upon delivery of written notice to Applicant Manager if On Deck, in its sole discretion, calculates that the default rate of loans to Merchants submitted by Applicant Manager is greater than ten percent (10%).
On Deck and Applicant Manager will be deemed to be independent contractors and will not be considered to be employer/employee, agent, servant, joint venturer or partner of the other.
Applicant Manager covenants that Applicant Manager will not take any action that would allow a potential Merchant to reasonably conclude that Applicant Manager is an agent of On Deck with any form of apparent authority.
On Deck may, at its sole discretion, approve or deny a prospective Merchant for a loan product or service.
For every prospective Merchant, Applicant Manager shall use the form of Loan Agreement that has been approved in writing by On Deck for Applicant Manager’s use with the Loan Program.
Applicant Manager acknowledges and agrees that On Deck may amend the Loan Program Standards and the Training Materials from time to time at the sole and exclusive discretion of On Deck.
Applicant Manager shall apply the Loan Program Standards to all prospective Merchants and Loan Agreements, and acknowledges that On Deck may, at any time, amend the Loan Program Standards to ensure the financial safety and soundness of the Loan Program, as determined in On Deck’s sole discretion.
During the application process and so long as any amount of any loan to a Merchant remains outstanding, Applicant Manager shall promptly notify On Deck in writing if Applicant Manager becomes aware of any adverse and/or negative information relating to such Merchant that would reasonably be expected to have a material effect on such Merchant’s ability to observe and adhere to the terms of its Loan Agreement.
The Grantor has good and valid rights in and title to the Collateral with respect to which it has purported to grant a security interest hereunder and has full power and authority to grant to the Secured Parties the Security Interest and to execute, deliver and perform its obligations in accordance with the terms of this Agreement, without the consent or approval of any other Person other than any consent or approval which has been obtained.