Lendesk Agreements

By using Lendesk Spotlight Submit you have read and agree to the Terms of Use and Privacy Policy.

By using Lendesk Alternative Gateway or Lendesk Classic you have read and agree to the Terms of Service and Privacy Policy.

Lendesk Spotlight Submit

Terms of Use

 

Terms and Conditions for Use of The Product

By using www.lendesk.com, the Lendesk Mobile App or the Lendesk API (whichever is being used, the “Product”), provided by Lendesk Technologies ULC (“Lendesk”, “we”, “us”, or “our”), you agree to the terms of use contained herein and in the Privacy Policy. Please read these terms carefully.

Applicability of, and Changes to, Terms of Use

From time to time we may update, modify or completely replace these terms of use, without prior notice to you. We may in our discretion provide you with notice of such changes, if you have provided us with relevant contact information; however, we have no obligation to provide such notice. At any time when you use the Product, you will be subject to the terms of use then posted on the Product. You are therefore responsible for checking the terms of use each time you use the Product.

These terms of use do not limit or reduce the effect of the specific terms of any other agreement or documentation which you enter (electronically or otherwise) in relation to the use of the Product or any product or service available on the Product. In particular, the terms of any such agreement or documentation will take precedence over these terms of use to the extent of any inconsistency among them.

Acceptable Use and Conduct

You are solely responsible for your use of the Product and all data related to your account. You agree to indemnify, defend and hold harmless Lendesk and its suppliers from any and all loss, cost, liability and expense arising from or related to your data, your use of the Product, or your violation of these terms.

Use of the Product must not infringe or violate third party rights or others’ use and enjoyment of the Product. As such, you agree not to use the Product: to violate, or encourage the violation of, the legal rights of others; to engage in, promote or encourage illegal activity; for any unlawful, invasive, infringing, defamatory or fraudulent purpose; to intentionally distribute viruses, worms, Trojan horses, corrupted files, hoaxes, or other items of a destructive or deceptive nature; to post, store or share of pornographic, racist, threatening or violent images or data; to use the Product in a manner that violates the terms of service of a Third Party Vendor (as defined below); to access, tamper with, or use non-public areas of the Product, Lendesk’s computer systems, or the technical delivery systems of Third Party Vendors; to attempt to probe, scan or test the vulnerability of any Lendesk system or network or breach any security or authentication measures.

Any unauthorized use of the Product is a violation of these terms of use. Such violations may subject the unauthorized user and his or her agents to civil and criminal penalties. You acknowledge and agree that Lendesk does and will cooperate with law enforcement officials and agencies in any investigation of potential or alleged violations of any applicable law. You acknowledge and agree that Lendesk may investigate (or have investigated on its behalf) allegations of infringement of third-party rights or abusive or any other inappropriate use of the Product.

Lendesk reserves the right, in its sole discretion, to terminate any account that it finds in violation of these terms, without recourse.

Access

Access to the Product is permitted on a temporary basis, and we reserve the right to withdraw or amend the service provided on the Product without notice. Lendesk will not be liable if for any reason the Product is unavailable at any time or for any period.

Term

These terms of use, and any posted revision or modification thereto, shall remain in full force and effect while you use or are registered for the Product. You may terminate your use of or registration to the Product at any time, for any reason, and Lendesk may terminate your use of or registration to the Product at any time, for any or no reason, with or without prior notice or explanation, and without liability or obligation to you or any third party. Even after your registration is terminated, your obligations under these terms of use and the Privacy Policy, including, without limitation, any indemnifications, warranties and limitations of liability, shall remain in effect.

Compliance

By using the Product, you represent, warrant and covenant that your use of the Product does not violate any applicable law, rule or regulation and you shall comply with all of the terms of use set forth herein. You may not enter any false, fraudulent, indecent, obscene, profane or otherwise inappropriate information into any application or other data entry form or page located on or through the Product, and you represent, warrant and agree that you will enter only true and accurate information into any form or page related to the Product, you will keep such information updated, and that you will use the Product only in compliance with all applicable laws. If you provide information that is untrue, fraudulent, inaccurate, not current or incomplete, or Lendesk suspects that such information is untrue, fraudulent, inaccurate, not current or incomplete, Lendesk has the right to suspend or terminate your registration (in whole or in part) and refuse any and all current or future use of the Product (or any portion thereof), in its sole discretion, with or without notice to you, and without liability or obligation to you or any third party.

User Registration

In order to access and use certain content, features, or functionality of the Product we may require you to register for the Product and have a unique username and password combination (“User Credentials”) and provide certain additional information, which may include, without limitation, customer name, address and email address (collectively, a “User Account”). If you elect to become a registered user of the Product, you are responsible for maintaining the strict confidentiality of your User Credentials, and you shall be responsible and liable for any access to or use of the Product by you or any person or entity using your User Credentials, whether or not such access or use has been authorized by you or on your behalf, and whether or not such person or entity is your employee or agent, including, without limitation, any fee-based transactions. You agree to (a) immediately notify Lendesk of any unauthorized use of your User Credentials or User Account, or any other breach of security, and (b) ensure that you log off from the Product at the end of each session. It is your sole responsibility to (i) control the dissemination and use of your User Credentials and User Account, (ii) update, maintain and control access to your User Credentials and User Account, and (iii) cancel your User Account on the Product. We reserve the right to deny access, use and registration privileges to any User of the Product if we believe there is a question about the identity of the person trying to access any account or element of the Product. Lendesk shall not be responsible or liable for any loss that you incur as a result of someone else using your User Account and/or password.

Disclaimer

Lendesk makes no representation or warranty of any kind in relation to the Product. In particular, you should be aware that information contained on the Product may be incomplete, may contain errors or may have become out of date. Lendesk makes no commitment, and disclaims any duty, to update any of the information on the Product.

To the extent permitted by law, we, other members of our group of companies and third parties connected to us hereby expressly exclude all conditions, representations warranties and other terms which might otherwise be implied by statute, common law or the law of equity.

Sample Forms

The Product may generate, or otherwise enable you to obtain or generate, certain sample forms, including without limitation sample cost of borrowing disclosure forms (collectively, “Sample Forms”). The Sample Forms are provided for your convenience as examples only. Your use of the Sample Forms is at your own risk. The Sample Forms are not intended to encompass the full form of disclosure which may be required for the purpose for which you intend to use the Sample Forms. Any form you or a lender enters into with a borrower will override these Sample Forms to the extent they conflict with one another. Lendesk makes no representation or warranty of any kind in relation to the Sample Forms, and specifically does not represent or warrant that the Sample Forms comply with applicable laws or will be suitable for the purposes for or the jurisdictions in which you intend to use the Sample Forms. You are solely responsible for ensuring that your use of the Sample Forms complies with all applicable laws and is appropriate for the applicable factual circumstances under which you use the Sample Forms. If you determine that a Sample Form does not comply with all applicable laws or is not appropriate for the applicable factual circumstances, you must create and use your own form and not use the Sample Form.

Liability

The Product is provided on an “as-is”, “as-available” basis and we shall have no liability for any direct, indirect or consequential loss or damages incurred by any user in connection with this Site or in connection with the use, inability to use, or results of the use of this Site, any websites linked to it and any materials posted on it, whether caused by tort (including negligence), breach of contract or otherwise.

You agree to defend, indemnify and hold Lendesk and its respective partners, members, contributors, organizers, directors, officers, employees, representatives, agents, licensors, advertisers, suppliers and operational service providers (collectively, the “Company Indemnitees”) harmless from any and all claims, liabilities, damages, losses, costs and expenses (including legal fees), arising in any way out of or in connection with (a) your use of the Product or any Sample Form, or (b) your breach or violation of these terms. Lendesk reserves the right, at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you and all negotiation for its settlement or compromise (as applicable), and in each such case, you agree to fully cooperate with us upon our request.

YOUR USE OF THE PRODUCT IS AT YOUR OWN RISK. YOU UNDERSTAND AND AGREE THAT, TO THE FULLEST EXTENT PERMISSIBLE BY LAW, LENDESK AND THE COMPANY INDEMNITEES SHALL NOT BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY LOSS OR DAMAGE OF ANY KIND, DIRECT OR INDIRECT, IN CONNECTION WITH OR ARISING FROM THE PRODUCT, THE USE OF THE PRODUCT OR FROM THESE TERMS OF USE, INCLUDING, WITHOUT LIMITATION, COMPENSATORY, CONSEQUENTIAL, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES.

Intellectual Property

Unless otherwise noted, all elements comprising the Product as well as the content and layout of the Product are the exclusive property of Lendesk or are used with permission and may not be reproduced or distributed, in whole or in part, without the prior written consent of Lendesk.

Links to Other Materials

Some of the links available to you through the Product will allow you to leave the Product. Such external internet sites and the material are not under the control of Lendesk, and Lendesk makes no representations and disclaims all liability with respect to such sites and materials. The links are provided only for your convenience, and their inclusion does not constitute nor imply approval or endorsement by Lendesk of the sites or their content. You may not provide hyperlinks to the Product without the prior written consent of Lendesk.

Third Party Vendors

Certain features of the Product incorporate software are developed by third parties (“Third Party Vendors”). You acknowledge and agree that your use of any services provided by Third Party Vendors is governed by the terms and conditions of such Third Party Vendors, which include, but are not limited to Heroku, VM Farms, Context.io, Google, Mandril, Transunion and Equifax. Any breach of the terms of conditions of such third parties, whether identified herein or not, shall constitute a breach of these terms of use. We do not provide any representations or warranties with respect to software provided by Third Party Vendors.

Filogix Marketplace Terms

If you use the Filogix Marketplace (as defined below) in connection with or as part of your use of the Product, the following terms (these “Filogix Marketplace Terms”) are applicable to your use of the Filogix Marketplace, and in the event of any inconsistency or conflict between these Filogix Marketplace Terms and the remainder of these terms of use, these Filogix Marketplace Terms will prevail with respect to your use of the Filogix Marketplace:

1. Definitions. In these Filogix Marketplace Terms:

(a) “D+H” means D+H Mortgage Technology Corporation, a Third Party Vendor.

(b) “Data Access Rights” means the right to send communications to Lenders and receive communications from Lenders and other users of the Filogix Marketplace in connection with mortgage applications and related activities.

(c) “Filogix Marketplace” means the system operated by D+H providing access for you to exercise Data Access Rights, which may be provided to you as a third party integration as described in the “Third Party Vendors” section above.

(d) “Lender” means a private lender or a financial institution who is a Marketplace User and who receives Loan Applications via the Filogix Marketplace.

(e) “Lendesk Data” means all information provided by or on behalf of Lendesk in connection with your use of the Filogix Marketplace either by input through the Filogix Marketplace or otherwise, and includes any information provided by you accessing or using the Filogix Marketplace.

(f) “Loan Application” means a loan application submitted via the Filogix Marketplace.

(g) “Marketplace Users” means Lenders and others authorized by D+H to access the Filogix Marketplace by means of Data Access Rights and to offer services, products and information to other Marketplace Users.

  1. 2. Your Obligations. You hereby agree that:

    (a) D+H is not responsible for investigating or verifying the accuracy of any information accessible via the Filogix Marketplace, including information submitted or made available by any prospective mortgagor or other Marketplace Users, any acts or omissions by a prospective mortgagor or customer, the creditworthiness of any prospective mortgagor or customer or verifying the accuracy of any information available via the Filogix Marketplace;

    (b) you shall comply with all specifications, standards, policies and operating procedures relating to the Filogix Marketplace and the Data Access Rights, which may be amended from time to time by D+H in its sole discretion;

  2. (c) you shall not use the Data Access Rights or the Filogix Marketplace to transmit, upload, download, e-mail, access or otherwise make available content that: (i) is contrary to law; (ii) violated third party rights of any kind; (iii) is harmful, threatening, abusive, libelous, hateful or racially, ethically or otherwise objectionable; (iv) interferes with or disrupts (by way of unreasonable bandwidth use or otherwise) the Filogix Marketplace; or (v) solicits, directly or indirectly, other Marketplace Users, to become employees of or associated with you or to buy, purchase or license products or services which have not been authorized by D+H;

    (d) you shall submit each Loan Application to one Lender only, for acceptance or rejection and, only after a Loan Application or commitment is rejected, may a Loan Application from the same borrower be submitted to another Lender and so on from time to time so that no more than one Lender at a time is considering a Loan Application form any one borrower, provided, however, a Loan Application shall be deemed to have been rejected by a Lender if a Lender does not respond within four hours of the time that you submit the application;

    (e) you shall use reasonable efforts to maintain in the Filogix Marketplace the current status of all Loan Applications;

    (f) you shall comply with all laws applicable to the use of the Filogix Marketplace and the Data Access Rights, including any requirement to be registered or licensed as a mortgage broker in each jurisdiction in which you carry on business;

    (g) you shall cause all of your employees and independent contractors who originate or fulfill residential mortgages (“your Agents”) to comply with your obligations, and you are liable to D+H, as a third party beneficiary, for any acts or omissions of any of your Agents;

    (h) you shall (i) obtain from your customers and other Marketplace Users any consent, acknowledgement and agreement that may be required for the use, transfer or disclosure of Lendesk Data by you and other Marketplace Users for the purpose of its use within the Filogix Marketplace, and (ii) provide evidence of the foregoing to Lendesk or D+H upon request by Lendesk;

    (i) D+H is a third party beneficiary of the rights of Lendesk under these terms of use in respect of any right or obligation relating to the Filogix Marketplace; (j) you shall promptly provide Lendesk with and advise Lendesk of any changes to your following information: full name, company name, address, telephone number, fax number, e-mail address and registration number; and

    (k) if you wish to use the “Expert” services related to the Filogix Marketplace, the you shall execute D+H’s Expert Agreement directly with D+H.

    3. No Legal Services. You acknowledge that Lendesk and D+H are not engaged in rendering legal services to any of its customers including you. If you believe that legal or other expert assistance is required, the services of a competent and qualified professional should be sought by you. You hereby assume full responsibility for use and interpretation of Lendesk Data and the results of all services.

    4. Indemnification. You shall indemnify Lendesk and its affiliates, and each of their directors, officers, employees, agents, consultants, advisors and other representatives, and each of the heirs, executors, successors and assigns of any of the foregoing (each, an “Indemnitee”) against (a) any reasonable, out-of-pocket expense incurred in defending a judicial, administrative or arbitration claim, suit, action or proceeding (including any interest) (a “Claim”) or in any related investigation or negotiation, including court filing fees, court costs, arbitration fees, witness fees, and attorneys’ and other professionals’ fees and disbursements (“Litigation Expenses”), and (b) any amount awarded in, or paid in settlement of, any Claim, including any interest but excluding any Litigation Expenses (“Losses”), together with Litigation Expenses, “Indemnifiable Losses”), arising from any Claim brought by someone other than the Indemnitees, against one or more Indemnitees, except to the extent that any Indemnitee negligently or intentionally caused those Indemnifiable Losses, arising out of any arrangements, discussions, dealings, contracts or agreements with any potential mortgagor by you and that is related to your use of the Data Access Rights or the Product.

    5. Dispute Resolution.

    (a) Procedure for Disputes. In the event a dispute arises between Lendesk and you relating to your use of the Filogix Marketplace or the Data Access Rights, or these Filogix Marketplace Terms or its subject matter, negotiation, performance, termination, interpretation or formation, prior to either party pursuing any other available remedies, the parties shall follow these procedures: (i) either party may give the other party written notice of any dispute not resolved in the normal course of business; (ii) representatives of both parties with decision making authority shall meet to attempt in good faith to negotiate a mutually acceptable resolution of the dispute within ten days after delivery of the notice, and thereafter, as often as reasonably necessary; and (iii) if, within 30 days after first meeting the parties have not successfully concluded a resolution, or if the parties fail to meet within the ten days period after delivery of the notice, the parties shall submit the dispute to arbitration by a single arbitrator agreed to by the parties, or failing agreement to a panel of three arbitrators, one chosen by each of Lendesk and you and one chosen by the two arbitrators so chosen. Notwithstanding the foregoing, either party may seek injunctive relief or equitable relief without complying with the procedures in this section. In the event of a dispute relating to payment of any or all of an invoiced or other amount under these Filogix Marketplace Terms, you shall pay all amounts which are not in dispute and the parties will resolve the dispute in accordance with the procedure set out above.

    (b) Arbitration. Any arbitration shall be conducted in accordance with the provisions of the Arbitration Act, 1991 (Ontario) or any successor to that act, and shall take place in Toronto, Ontario. The arbitration award will be final and binding without any right of appeal and must address costs of the arbitration.

  3. 6. Governing Law; Venue. The laws of the Province of Ontario govern all matters relating to the performance of or otherwise arising out of these Filogix Marketplace Terms. Subject to Section 5 above, the only venue for disputes arising out of these Filogix Marketplace Terms is the appropriate provincial or federal court located in Toronto, Ontario, and the parties hereby submit to the exclusive jurisdiction of those courts.

    7. Export Compliance. You shall not export, re-export, or otherwise transmit, directly or indirectly, any software, information, data or other materials received pursuant to your use of the Filogix Marketplace under these Filogix Marketplace Terms except in full compliance with law and these Filogix Marketplace Terms.

    8. Survival. Sections 4, 5 and 6 above shall survive the termination or expiration of these terms of use.

Entire Agreement

Unless otherwise agreed to in writing, these terms of use, together with the Privacy Policy, the terms of use of any Third Party Vendors and any other regulations, procedures and policies which we refer to and which are hereby incorporated by reference, contain the entire understanding and agreement between you and Lendesk concerning the Product and supersedes any and all prior or inconsistent understandings relating to the Product and your use thereof. These terms of use cannot be changed or terminated orally. If any provision of these terms of use is held to be illegal, invalid or unenforceable, this shall not affect any other provisions and these terms of use shall be deemed amended to the extent necessary to make it legal, valid and enforceable. Any provision which must survive in order to allow us to enforce its meaning shall survive the termination of these terms of use; however, no action arising out of these terms of use or your use of the Product, regardless of form or the basis of the claim, may be brought by you more than one year after the cause of action has arisen (or if multiple causes, from the date the first such cause arose).

Jurisdiction and Applicable Law

The courts of the Province of British Columbia will have exclusive jurisdiction over any claim arising from, or related to, use of the Product. These terms of use and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by, interpreted and enforced in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable therein.

Last Updated: February 5, 2020.

Lendesk Alternative Gateway OR LENDESK CLASSIC

Terms of Service

 

Lendesk Technologies ULC (“Lendesk”) OWNS AND PROVIDES THE SERVICES (DEFINED BELOW) ACCESSED THROUGH ITS WEBSITE LENDESK.COM, INCLUDING THROUGH THE LENDESK PLATFORM (DEFINED BELOW).

THIS AGREEMENT APPLIES TO ALL PERSONS OR ENTITIES WHO HAVE SUBSCRIBED FOR THE SERVICE (EACH A “LENDER”) AND THEIR USERS, ANY USER WHO UPLOADS MATERIALS TO THE SERVICE ON BEHALF OR AT THE REQUEST OF A LENDER, OR LENDER’S USERS WHO HAVE VIEW ACCESS OR USE OF THE SERVICES OR LENDESK PLATFORM.

BY USING THE SERVICES, LENDER HEREBY ACCEPTS THE TERMS AND CONDITIONS OF THIS AGREEMENT. IF LENDER DOES NOT ACCEPT THIS AGREEMENT, THEN USE OF THE SERVICES AND LENDESK PLATFORM IS NOT PERMITTED OR GRANTED.

THIS AGREEMENT MAY BE AMENDED OR UPDATED BY LENDESK AT ANY TIME FROM TIME TO TIME WITHOUT NOTICE. IT IS YOUR RESPONSIBILITY TO REVIEW THIS AGREEMENT FOR ANY CHANGES. USE OF THE SERVICES OR LENDEKS PLATFORM AFTER ANY AMENDMENTS OR UPDATES OF THIS AGREEMENT SIGNIFIES YOUR AGREEMENT AND ACCEPTANCE OF THE REVISED PROVISIONS.

IN ORDER TO USE CERTAIN FEATURES OF THE SERVICES OR LENDESK PLATFORM, PERSONAL INFORMATION MAY NEED TO BE PROVIDED. ALL PERSONAL INFORMATION YOU PROVIDE TO US WILL BE TREATED IN ACCORDANCE WITH THE TERMS OF OUR PRIVACY POLICY, WHICH IS HEREBY INCORPORATED BY REFERENCE INTO THIS AGREEMENT.

BACKGROUND:

A. Lender offers financial products in Canada, including but not limited to residential mortgages, lines of credit and personal loan (each, a “Lender Product”).

B. The Lendesk Platform provides services to participating mortgage originators (each, a “Broker”), including a communications service that enables a Broker to communicate electronically with Lender. These communications may include applications for mortgages and other loan types (each, an “Application”) and related information and documents sent by a Broker to Lender, and mortgage loan, personal loan or line of credit offers and related information and documents sent by Lender to a Broker (each, an “Offer”).

C. Lender wishes to receive Applications and other communications from Brokers, and to send Offers and other communications to Brokers, using the Lendesk Platform.

D. Lender may also use the Lendesk Platform to access and use the lender underwriting tools (the “Underwriting Service”) and certain data storage services (the “Storage Service”).

THEREFORE the parties agree as follows:

1. Definitions and Interpretation

1.1 Definitions: In this Agreement, the following terms will have the following meanings, unless the context otherwise requires:

“Affiliate” means, in relation to a party: (a) any corporation or other entity that Controls, is Controlled by, or is under common Control with, that party; (b) any corporation or other entity in a franchise relationship with that party; and (c) any corporation or other entity in a franchise relationship with any corporation or other entity that Controls, is Controlled by, or is under common Control with, that party. For the purpose of this definition, “Control” means, with regard to any corporation or other entity, the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such corporation or other entity, whether through the ownership of securities, by contract or otherwise.

“Agreement” means this agreement, including the Background, links, schedules and any documents annexed to this agreement or otherwise referred to in this agreement, as all may be amended from time to time.

“Anonymized Data” means aggregated anonymized data that: (a) may be derived in part from Communications; and (b) does not contain the identity of Lender or a Lender Affiliate or their Customers or Personnel.

“Applicable Law” means, as applicable to the performance of a party’s obligations and activities under this Agreement, any Canadian domestic law, rule, statute, regulation, by-law, order, ordinance, protocol, code, guideline, treaty, policy, notice, direction or judicial, arbitral, administrative, ministerial or departmental judgment, award, decree, treaty, published interpretation, directive, or other requirement or guideline in force at any time during the Term which governs or regulates any person (including any party), property, transaction, activity, event or other matter, including any such rule, order, judgment, published interpretation, directive or other requirement or guideline issued by any Governmental Authority.

“Application” has the meaning specified in the Background.

“Broker” has the meaning specified in the Background.

“Business Day” means a day other than a Saturday, a Sunday or a holiday on which banks in British Columbia are not open for business.

“Communications” means any communication provided by a Broker or a Lender through the Lendesk Platform, including Applications and Offers, and including all information in any such communication.

“Customer” means a customer or prospective customer of Lender on whose behalf a Broker has submitted an Application to Lender through the Lendesk Platform.

“Documentation” means the documentation generally made available by Lendesk to lenders using the Lendesk Platform.

“Effective Date” means the first of either of the following to occur: (i) both parties have executed an Order Form for Lendesk to provide the Services, or (ii) Lender’s first access of the Lendesk Platform.

“Fees” means those fees, charges and costs payable for the Services as set out in an Order Form related to Funded Mortgages fees (calculated in accordance with the terms of the Order Form) and a separate periodical subscription fee.

“Force Majeure” means any circumstances beyond the reasonable control of a party, including acts of nature, fire, flood, acts of Governmental Authorities, failures of power supplies or communications, defects in operating systems, denial of service attacks, failures by a third party to provide services, power surges, war, terrorism, riot, insurrection, strikes, labour disputes and trade union actions.

“Funded Mortgage” means, except as otherwise provided in this Agreement, a Lender Product that is advanced by Lender in response to an Application, as more particularly described in section 4.2.

“Funding Report” means, for each calendar month, a listing prepared by Lender of (a) all Applications for Lender Products that become Funded Mortgages in the calendar month; and (b) all other Funded Mortgages for which Fees are payable in the calendar month, all as more particularly described in sections 4.2 and 4.3.

“Governmental Authority” means any Canadian national, provincial, county, municipal, governmental, quasi-governmental or self-regulatory department, authority, organization, agency, commission, board, tribunal, dispute settlement panel or body, bureau, official, minister, Crown corporation, or Canadian court or other law, rule or regulation-making entity having jurisdiction over Lendesk, Lender, any Broker, or any other person, property, transaction, activity, event or other matter related to this Agreement.

“Handle” means to access, receive, collect, use, transmit, store, process, record, disclose, transfer, retain, dispose of, destroy, manage or otherwise handle Personal Information.

“Initial Term” has the meaning specified in section 2.1.1.

“Intellectual Property Rights” includes any copyright, patent (whether registered or pending), trademark (whether registered, unregistered or pending), service mark, trade name and style, logos or designs, design right (whether registered or unregistered), technical information, engineering procedures, know-how and processes (whether confidential or otherwise), industrial designs, semi-conductor topography right, integrated circuit topographies, trade secret, all other similar rights anywhere in the world now and in the future and any or all goodwill related to any or all of the foregoing including all applications therefor and all re-issues, divisions, continuations, re-examinations, renewals, extensions and continuations in part thereof.

“Lender Product” has the meaning specified in the Background.

“Lender Usage Data” means any data, including metadata, in any way related to or generated from the use of the Services by Lender, Lender Affiliates or their Users. For greater certainty, Lender Usage Data does not include Communications.

“Lendesk Platform” means Lendesk’s proprietary online communication and mortgage-related services currently known as Lendesk “Platform”, or Lendesk “Alternative Gateway”, and the Systems used by Lendesk to provide the Lendesk Platform, all as Modified, supplemented or replaced from time to time, including, the Underwriting Service and Storage Service.

“Lendesk Proprietary Materials” has the meaning specified in section 8.1.

“Losses” means any loss, cost, liability, fees, interest, fine, penalty, assessment or damages available at law or in equity, or expense (including interest, court costs and reasonable fees and expenses of lawyers, accountants and other experts and professionals).

“Malicious Code” means any virus, Trojan horse, worm, logic bomb, drop-dead device, backdoor, shutdown mechanism or similar software, hardware, system or combination of any of them that is intended or designed to, is operable to, is likely to or has the effect of disabling, deleting, erasing, denying authorized access to, permitting unauthorized access to, repossessing, encrypting, damaging, degrading, destroying, corrupting or otherwise affecting or interfering with the provision of the Services or the normal use of the Lendesk Platform or any data or files on or used in conjunction with any of them, but excluding code that serves the function of ensuring software license compliance.

“Modifications” means, in respect of any software, deliverables, hardware, equipment, services, documentation or other item, all modifications, amendments, corrections, adjustments, revisions, enhancements, changes, deletions, improvements, upgrades, updates, versions, releases, supplements, design contributions, translations, successors or derivative works of or to such software, deliverables, hardware, equipment, services, documentation or other item and “Modified” has a corresponding meaning.

“Offer” has the meaning specified in the Background.

“Order Form” means a written document signed by both parties (electronically or otherwise) setting out the Services acquired, the applicable Fees, and any other additional terms and conditions agreed to by the parties.

“Parties” means Lender and Lendesk collectively, and “party” means either of Lender or Lendesk.

“Personal Information” means “personal information” about an identifiable individual as defined under any applicable Privacy Laws.

“Personnel” means, with respect to any person, those individuals who are the directors, officers, employees, agents, consultants, or independent contractors of that person. For greater certainty, a Broker is not Personnel of either Lender or Lendesk.

“Privacy Laws” means: (a) the Personal Information Protection and Electronic Documents Act (Canada) and any applicable similar legislation of any province or territory pertaining to the collection, use, retention, security or disposal of Personal Information, as amended from time to time; and (b) any regulations, policies, requirements, guidelines or standards established by a privacy regulatory authority or other Governmental Authority, as amended from time to time.

“Proprietary Materials” of a person means anything that is the object of or that may be protected by Intellectual Property Rights or that is otherwise maintained as confidential by the person, such as software (including source code and object code), systems, data, modules, tools, methodologies, analysis, frameworks, specifications, reports, manuals, interfaces, schematics, solution construction aids, programming architecture, technology, compilations of information, databases, advertising and marketing materials, formulae, designs, concepts, models, drawings, inventions, business methods and processes or other information or data, and including: (a) all documentation relating to any of the foregoing; and (b) any Modifications to any of the foregoing or to the documentation therefor.

“Renewal Term” has the meaning specified in section 2.1.2.

“Security Breach” means any incident or event that has resulted, or has a substantial potential to result, in: (a) any unauthorized person for whom the Lender is responsible accessing the Lendesk Platform or any transmission of Malicious Code to or through the Lendesk Platform; or (b) any unauthorized person accessing the Lendesk Platform from or through the Lender systems or any transmission of Malicious Code from or through the Lender systems to the Lendesk Platform.

“Security Procedures” has the meaning specified in section 5.4.1.

“Services” has the meaning specified in section 3.1.

“Systems” means, in respect of either party, the information technology systems used by that party, including hardware, software, related communications services and network devices, and third party information technology services such as SaaS, PaaS and IaaS services.

“Term” means the Initial Term and all Renewal Terms, if any.

“User” means an individual who is authorized by Lender to use the Services, and to whom Lender (or, when applicable, Lendesk at Lender’s request) has supplied a user identification and password (for Services utilizing authentication).

1.2 Interpretation. Unless otherwise specified, all references to money amounts are to the lawful money of Canada. Section headings shall not affect the interpretation of this Agreement. References to sections are to the sections of this Agreement. A person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality) or Governmental Authority. Unless the context otherwise requires, words in the singular shall include the plural and vice versa and words importing gender include all genders. Where the word “including” or “includes” is used in this Agreement, it means “including (or includes) without limitation”. A reference to any party shall include that party’s successors and permitted assigns. Unless something in the subject matter or context is inconsistent therewith or unless otherwise provided in this Agreement, a reference to any Applicable Law is to that Applicable Law as now enacted or as the same may from time to time be amended, re-enacted or replaced. The parties acknowledge that their respective legal counsel has reviewed and participated in settling the terms of this Agreement, and agree that any rule of construction to the effect that any ambiguity in this Agreement will be resolved against the drafting Party will not be applied to the interpretation of this Agreement.

2. Term

2.1 Term.

2.1.1 The initial term of this Agreement commences on the Effective Date and terminates on the twelve-month anniversary of the Effective Date (the “Initial Term”) unless earlier terminated in accordance with this Agreement.

2.1.2 The Term of this Agreement will automatically renew for successive twelve-month periods (each, a “Renewal Term”) on the same terms and conditions a party provides the other party with written notice of its intention not to renew this Agreement at least 90 days prior to the expiry of the Initial Term or the then current Renewal Term, as applicable. Unless agreed to otherwise in the Order Form Lendesk may increase the Fees payable in the Renewal Term by up to 5% of the immediately prior Initial Term’s or Renewal Term’s Fees.

3. The Services

3.1 The Services. Subject to Lender’s compliance with its obligations under this Agreement, including the payment of applicable Fees, Lendesk will use commercially reasonable efforts to provide access to the following services to Lender (the “Services”) during the Term:

3.1.1 Ability to receive Communication to Lender through the Lendesk Platform or provide notice to Lender that the Communication from a Broker is available for retrieval by Lender.

3.1.2 Ability to send Communication to Broker through the Lendesk Platform, or provide notice to Broker that the Communication from a Lender is available for retrieval by Broker.

3.1.3 Subject to (i) a Lender being a member in good standing with the applicable credit bureau service providers, (ii) complying with such credit bureau service provider agreements, rules and policies, and (iii) providing Lendesk with the necessary credentials from such credit bureau service provider, Lendesk may provide Lender with access for credit bureau services for an additional fees beyond the Fees;

3.1.4 Lendesk may provide Lender with access for document electronic signature for additional fees beyond the Fees; and.

3.1.5 the Storage Service will be subject to any volume restrictions as determined by Lendesk based on the Fees payable for the Storage Service.

3.2 Promotion. The parties will collaborate, co-operate and use commercially reasonable efforts to promote the use of the Lendesk Platform for the submission of Applications to Lender.

3.3 Lender Responsibilities.

3.3.1 Following Lender’s receipt of an Application, Lender will provide a response to the Application through Lendesk, in accordance with Lender’s normal business practices. The manner, messaging type and format of responses may be modified from time to time as mutually agreed by the parties, but will be in a format compatible with the Lendesk Platform.

3.3.2 Lender will: (a) be responsible for its Users’ compliance with this Agreement, the Documentation, and all instructions relating to the Lendesk Platform or the Services provided by Lendesk from time to time; (b) be responsible for the accuracy, quality and legality of Communications; (c) use commercially reasonable efforts to prevent unauthorized access to or use of the Services, and notify Lendesk promptly of any such unauthorized access or use; and (d) use the Services only in accordance with this Agreement, the Documentation, any instructions provided by Lendesk from time to time, and Applicable Laws.

3.3.3 Lender will not: (a) allow anyone other than an authorized User to access the Services, or allow Users to share or assign authentication credentials; (b) make the Services directly or indirectly available to, or use the Services for the benefit of, anyone other than Lender or its Affiliates; (c) sell, resell, license, sublicense, distribute, make available, rent or lease any of the Services, or include any of the Services in a SaaS, service bureau or outsourcing offering, or use the Services to process the data of any other person; (d) use the Services to store or transmit infringing, libelous, or otherwise unlawful or tortious material, or to store or transmit material in violation of third-party privacy rights; (e) use the Services to store or transmit Malicious Code; (f) interfere with or disrupt the integrity or performance of the Services or data contained in Lendesk Platform; (g) attempt to gain unauthorized access to the Services or the Lendesk Platform; (h) reverse engineer, disassemble, or decompile the Lendesk Platform or apply any other process or procedure to derive the source code, object code or design of any software used by the Lendesk Platform (to the extent such restriction is permitted by law); (i) create derivative or merged works of the Services or the Lendesk Platform; (j) allow any competitor of Lendesk to directly or indirectly access or use the Lendesk Platform or the Documentation; or (k) allow any person that Lender may engage to create a product or service that is competitive with the Lendesk Platform to access or use the Lendesk Platform or the Documentation. Lender’s or a User’s intentional violation of Section 3.5.3, or any use of the Services in breach of this Agreement or the Documentation, by Lender or Users that in Lendesk’s judgment imminently threatens the security, integrity or availability of Lendesk’s services, may result in Lendesk’s immediate suspension of the Services. Lendesk will use commercially reasonable efforts under the circumstances to provide Lender with an opportunity to remedy such violation or threat prior to any such suspension.

3.3.4 Lender is solely responsible to ensure that it has and retains all necessary original and copies of information that it submits to, process, stores or receives through the Lendesk Platform and ensure that it has back up copies of all of the Communications, data, information and materials on Lender’s own local system or a third party system, including all data, files and records that Lender submits to, processes, stores or receives through the Lendesk Platform.

3.4 Lendesk Platform Changes. Lendesk may make Modifications to the Lendesk Platform from time to time at Lendesk’s sole discretion, including removing functionality, adding new functionality, and making corrections, modifications and other enhancements.

3.5 Sample Forms. The Lendesk Platform may generate, or otherwise enable Lender to obtain or generate, certain sample forms, including without limitation sample cost of borrowing disclosure forms (collectively, “Sample Forms”). The Sample Forms are provided for Lender’s convenience as examples only.  Lender’s use of the Sample Forms is at its own risk. The Sample Forms are not intended to encompass the full form of disclosure which may be required for the purpose for which Lender intends to use the Sample Forms. Any form Lender or a Broker enters into with a borrower will override these Sample Forms to the extent they conflict with one another. Lendesk makes no representation or warranty of any kind in relation to the Sample Forms, and specifically does not represent or warrant that the Sample Forms comply with applicable laws or will be suitable for the purposes for or the jurisdictions in which Lender intends to use the Sample Forms. Lender is solely responsible for ensuring that its use of the Sample Forms complies with all applicable laws and is appropriate for the applicable factual circumstances under which it uses the Sample Forms. If Lender determines that a Sample Form does not comply with all applicable laws or is not appropriate for the applicable factual circumstances, Lender must create and use its own form and not use the Sample Form.

4. Fees and Invoicing

4.1 Fees. For the Services, Lender will pay to Lendesk the fees (“Fees”), and in accordance with the terms of this Agreement and the payment terms set out in the Order Form.

4.2 Funded Mortgages and the Calculation of Fees. Except as may otherwise be expressly agreed and set out in the Order Form, the parties agree to the following in respect of the Fees:

4.2.1 If a Funded Mortgage secures multiple pre-planned advances (such as, but not limited to, a construction mortgage or a reverse mortgage), then Fees are payable on the amount of each advance except as otherwise expressly described in this Section 4.2.

4.2.2 A mortgage that secures multiple advances or loans, including a home equity line-of-credit or similar Lender Product, will be deemed to be a Funded Mortgage. If any advance secured by the mortgage is or will be used to fund the purchase of real property (including leasehold property) or to refinance a mortgage that was used to fund the purchase of real property (including leasehold property), then Fees are payable on the advance as specified in section 4.1. If the previous sentence does not apply, then the Fee will be a flat amount per Funded Mortgage as set out in the Order Form regardless of the amount or timing of any advances under the Funded Mortgage and the Fee will be payable on the closing of the mortgage.

4.2.3 A renewal of an existing Lender Product is a Funded Mortgage if and only if an Application for the renewal was submitted by a Broker using the Lendesk Platform and the Broker is paid any commission or similar fee in respect of the renewal. In such event, Fees are payable on the principal amount of the Funded Mortgage on the effective date of the renewal.

4.2.4 If Lender receives an Application in respect of a Customer for any Lender Product through the Lendesk Platform and Lender also receives one or more Applications in respect of the same Customer for the same mortgage under the same Lender Product through some other service or through direct application by the Customer to Lender, then Lender may choose, in its sole discretion, which, if any, Application to accept. The mortgage will be a Funded Mortgage if and only if any one or more of the following applies: (a) Lender chooses to accept the Application received through the Lendesk Platform rather than one of the other applications; (b) the Application was received through the Lendesk Platform before any other application and the Broker receives any commission or similar fee in respect of the mortgage; or (c) any information from the Application received by Lender through the Lendesk Platform is used to fund the Mortgage.

4.3 Funding Reports. If the Lender is required to pay Lendesk a fee based on mortgage application volumes per an order form, then within 15 days after the end of each calendar month, Lender will provide Lendesk with a Funding Report.

4.4 Invoicing; Reconciliation of Invoices; Interest on Late Payments; Suspension of Services. For each calendar month, Lendesk will issue an invoice to Lender after Lendesk receives Lender’s Funding Report for that calendar month. Lender will pay each invoice within 15 days following receipt of the invoice. Lender will make payment by cheque or such other method of payment as may be agreed by the parties. The parties will perform a reconciliation of invoices with a frequency to be agreed to by them (provided that the reconciliation occurs not less frequently than annually). If Lender does not pay an invoice within 15 days following receipt of the invoice, Lender will also pay simple interest on the unpaid amount from the due date until payment is made at an interest rate equal to the lesser of: (a) 9% per annum; or (b) the highest interest rate allowed under Applicable Laws. If any charge owing by Lender is 30 days or more overdue and such default is not remedied within 10 days after notice from Lendesk, then Lendesk may, without limiting its other rights and remedies, suspend the Services until such amounts are paid in full.

4.5 Taxes. The Fees exclude all GST, HST, sales, excise, service, value-added, consumption taxes or similar taxes (“Taxes”), all of which are the responsibility of Lender. Lendesk may charge and Lender will pay applicable Taxes that Lendesk is legally obligated or authorized to collect from Lender. Lendesk will remit such Taxes to the applicable taxing authorities as required by Applicable Laws. Lender will provide such information to Lendesk as reasonably required to determine whether Lendesk is obligated to collect Taxes from Lender. Lendesk will not collect any Taxes for which Lender furnishes a properly completed exemption certificate or a direct payment permit certificate for which Lendesk may claim an available exemption from such Taxes.

5. Privacy and Security

5.1 Privacy and Personal Information. Lender and Lendesk each agree that:

5.1.1 All Personal Information in any copy of a Communication that is retained within the Lendesk Platform is in the possession and control of the (i) Broker to which the Communication was sent, and (ii) the Lender in respect of data or information stored on the Lendesk Platform pursuant to the Storage Services.

5.1.2 For (i) the Communication, the Broker is the data controller of that Personal Information, and (ii) for Storage Services, the Lender is the data controller of that Personal Information, and (as may applicable) Lendesk is a data processor on behalf of the Broker or Lender. Lender has no access to or control of the Personal Information in respect of Communication.

5.1.3 All Personal Information in any copy of a Communication that is retained within the Lender systems is in the possession and control of Lender. Lender is the data controller of that Personal Information, and Lendesk is not a data processor on behalf of Lender. Lendesk has no access to or control of that Personal Information.

5.1.4 Lender will use all commercially reasonable efforts to limit to only what is necessary or avoid providing Personal Information to Lendesk pursuant to this Agreement; and if, notwithstanding the foregoing, Lender does provide any other Personal Information to Lendesk, then: (i) Lendesk will Handle that Personal Information in accordance with Lendesk’s Privacy Policy and the Privacy Laws applicable to Lendesk; (ii) Lendesk will delete or return that Personal Information at the request of Lender; and (iii) Lendesk may, in its discretion, delete or return that Personal Information at any time, even if not so requested by Lender.

5.2 Lendesk Security.

5.2.1 Lendesk will maintain reasonable administrative, physical, and technical safeguards (collectively, “Security Procedures”) designed to protect the security, confidentiality and integrity of the Lendesk Platform and the data within it.

5.2.2 Lendesk warrants that it is, and agrees that during the Term it shall remain, compliant with the requirements of CPA Canada’s Trust Services Principles and Criteria for Security, Availability, Processing Integrity, Confidentiality and Privacy, as updated from time to time (the “SOC 2 Principles and Criteria”) or an equivalent standard (as determined by Lendesk, acting reasonably).

5.2.3 Lendesk will perform Background Checks (each, a “Background Check”) on Lendesk Personnel prior to permitting such Lendesk Personnel to provide Services to Lender. Background Checks will be performed in accordance with Lendesk’s internal policy, as amended from time to time, and will include at least a criminal record check.

5.2.4 Lendesk will employ current industry-standard protection measures intended to prevent Malicious Code from being introduced to the Lendesk Platform.

6. Lendesk Warranty

6.1 Lendesk Warranty. Lendesk warrants that, during the Term: (a) the Services will perform materially in accordance with the applicable Documentation; (b) Lendesk will not materially decrease the overall security of the Services; and (c) Lendesk will not materially decrease the overall lender functionality of the Services acquired by Lender. For any breach of a warranty above, the sole right of Lender and the sole responsibility of Lendesk shall be for Lendesk to exercise commercially reasonable efforts to cause the Services to conform to the warranty within a commercially reasonable time after receipt by Lendesk from Lender of a written notice identifying any such failure to so conform.

6.2 Disclaimers.

6.2.1 EXCEPT AS SPECIFICALLY SET FORTH IN THIS AGREEMENT, THE SERVICES ARE PROVIDED “AS IS” AND THERE ARE NO REPRESENTATIONS, WARRANTIES, OR CONDITIONS OF EITHER PARTY, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, REGARDING ANY MATTER, INCLUDING ANY WARRANTIES OR CONDITIONS OF MERCHANTABLE QUALITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT. LENDESK DOES NOT REPRESENT OR WARRANT THAT THE SERVICES WILL MEET ANY OR ALL OF LENDER’S PARTICULAR REQUIREMENTS, OR THAT THE SERVICES WILL BE ERROR-FREE, UNINTERRUPTED, OR FREE OF MALICIOUS CODE, OR THAT COMMUNICATIONS WILL BE SECURE OR NOT LOST OR ALTERED. LENDESK DOES NOT MAKE ANY REPRESENTATION OR WARRANTY REGARDING THE VOLUME OF APPLICATIONS THAT LENDER MAY RECEIVE THROUGH THE SERVICES.

6.2.2 LENDESK HAS NO RESPONSIBILITY OR LIABILITY FOR THE ACCURACY OR COMPLETENESS OF ANY INFORMATION IN ANY COMMUNICATION, INCLUDING ANY INFORMATION IN AN APPLICATION. LENDESK DOES NOT REVIEW OR VERIFY SUCH INFORMATION, AND LENDER USES SUCH INFORMATION AT ITS OWN RISK. IN NO EVENT SHALL LENDESK, ITS CONTRACTORS OR AGENTS, OR PERSONNEL BE HELD LIABLE TO OR THROUGH LENDER FOR ANY LOSS OR DAMAGE WHATSOEVER RESULTING FROM RELIANCE ON ANY INFORMATION PROVIDED BY LENDESK PURSUANT TO THIS AGREEMENT OR THE LENDESK PLATFORM OR RELATED THERETO. ALL RESPONSIBILITY AND LIABILITY FOR THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION IS THAT OF LENDER OR THE BROKER, AS APPLICABLE.

6.2.3 LENDER ACKNOWLEDGES THAT NOTHING IN THIS AGREEMENT, THE DOCUMENTATION OR THE SERVICES, INCLUDING BUT NOT LIMITED TO THE UNDERWRITING SERVICE, IS INTENDED AS A SUBSTITUTE FOR PROFESSIONAL OR LEGAL ADVICE ON THE REGULATORY REQUIREMENTS OF MORTGAGES, BROKERING, BANKING, BANKING OPERATIONS, LENDING, LENDING OPERATIONS, OR OTHER TOPICS GENERALLY APPLICABLE TO FINANCIAL INSTITUTIONS OR BROKERS. LENDER ACKNOWLEDGES THAT LENDESK DOES NOT AND CANNOT PROVIDE LEGAL, ACCOUNTING OR OTHER PROFESSIONAL SERVICES OR ADVICE TO LENDER, AND THE INFORMATION CONTAINED IN THIS AGREEMENT, THE DOCUMENTATION, AND THE SERVICES DOES NOT CONSTITUTE LEGAL, ACCOUNTING OR PROFESSIONAL ADVICE OR OPINIONS.

6.2.4 LENDER WILL ENSURE THAT ANY DETERMINATION OR DECISIONS MADE BY A LENDER RELATED TO ANY APPLICATION OR THE UNDERWRITING SERVICE ARE MADE WITH HUMAN INTERVENTION AND HUMAN AGENCY, AND ARE NOT SOLELY RELIANT UPON THE OPERATION OR PROCESSING OF THE LENDESK PLATFORM.

7. Additional Terms

7.1 Lender Products. From time to time during the Term, Lender will make information available concerning Lender Products, including to Lendesk and Brokers, by way of public announcements, communications or circulars. Lender agrees that Lendesk may make such information concerning Lender Products as has been provided by Lender available to Brokers on the Lendesk Platform.

7.2 Records. Until the later of: (a) seven years after the end of the Term; and (b) the date all pending matters relating to this Agreement (e.g. disputes, tax assessments or reassessments) are closed, the Lender will maintain all material records, documents and other information relating to the Services, Applications, Funded Mortgages, and this Agreement. Without limiting the generality of the foregoing, Lender will maintain records sufficient to allow Lendesk to verify Lender’s Funding Reports. For greater certainty, neither party is responsible for the records of any Broker.

7.3 Audits. During the Term and for the period during which the parties are required to maintain records, documents and other information under section 7.2, the Lender will provide access to any such records, documents and other information to the other party, its audit representatives and Governmental Authorities, on not less than ten Business Days’ prior written notice, to enable such person to audit, investigate and review the records, documents and other information to verify compliance with the terms of this Agreement. Any overpayment or underpayment by an audited party will be rectified within 30 days of final determination of such overpayment or underpayment.

7.4 Non-solicitation. The Lender will, either during the Term or within the period of six months following its expiry or termination, without the prior written consent of the other party, endeavor to entice away from Lendesk, by initiating any form of contact or communication, directly or through others, any employee of Lendesk, or employee of a contractor retained by the other party (either directly or indirectly) who was made known to the party in connection with the Lendesk Platform, any Services provided under this Agreement or otherwise in connection with this Agreement. This section 7.4 does not apply to the solicitation of an individual by means of general solicitation for employment, such as a newspaper or on-line advertisement. The restrictions contained in this section 7.4 are considered by the parties to be reasonable in all circumstances.

8. Intellectual Property

8.1 Definitions. In this Agreement, “Lendesk Proprietary Materials” means all Proprietary Materials owned by or licensed to Lendesk at the Effective Date or acquired, developed or licensed by Lendesk independent of this Agreement, and includes any Modifications to any of them made or obtained by Lendesk. The Lendesk Proprietary Materials include the Lendesk Platform, the Services, the Documentation, the Lender Usage Data, the Anonymized Data, and any Modifications of any of them.

8.2 Ownership of Proprietary Materials.

8.2.1 The Lendesk Proprietary Materials and all Intellectual Property Rights in or to the Lendesk Proprietary Materials (including any Modifications) are and will continue to be owned by Lendesk. Lender does not obtain any right, title or interest to the Lendesk Proprietary Materials except for such rights as are expressly provided in this Agreement.

8.3 Licenses.

8.3.1 Subject to Lender’s compliance with the provisions of this Agreement, Lendesk grants to Lender throughout the Term a non-exclusive, non-transferable right for Lender to communicate with the Lendesk Platform in order to receive Communications from Brokers, and to send Communications to Brokers.

8.3.2 Subject to Lendesk’s compliance with the provisions of this Agreement, Lender grants to Lendesk throughout the Term a non-exclusive, non-transferable right for Lendesk to communicate with the Lender (through its systems) in order to send Communications to Lender (or notifications that such Communications are available for download by Lender), and to receive Communications from Lender and to provide the Communications to the Broker.

8.4 Suggestions. Lender hereby grants to Lendesk a non-exclusive, royalty-free, worldwide, transferable, sublicensable, irrevocable, unconditional, perpetual license to use and incorporate into its business, Lendesk Proprietary Materials and its services, any suggestions, enhancements, requests, recommendations or other feedback provided by Lender or its Personnel.

8.5 Trade-marks.

8.5.1 Lender hereby grants to Lendesk a nonexclusive, non-transferable (except as provided in section 12.2), license, during the Term, to use Lender’s designated trademarks, service marks and logos (“Lender Marks”) within the Lendesk Platform and on Lendesk’s website and marketing collateral for the purpose of promoting the Services, if desired but without obligation, subject to the requirements of this section 8.5.1.

8.5.2 Without the prior written consent of the other party, neither party will, during or after the termination of this Agreement, use or adopt any domain name, trade mark, trade name, trading style or commercial designation that includes or is similar to, or may be mistaken to be similar to, the whole or any part of any domain name, trade mark, trade name, trading style or commercial designation of the other party.

9. Indemnity

9.1 Lender Indemnity. Subject to sections 9.3 and 9.4, Lender will defend, indemnify and save harmless Lendesk, its Affiliates, and its and their officers, directors, employees and agents from and against any third party claim, and all Losses awarded against or incurred by any of them in connection with that third party claim, where the third party claim is in connection with: (a) any Communication; (b) the use, misuse or non-use of the Lendesk Platform; (c) the use or misuse of any Sample Form; (d) any failure of Lender to comply with Applicable Laws; or (e) any dispute between Lender and any one or more Customers and/or any one or more Brokers.

9.2 Indemnification Procedure. If any third party makes a claim against an indemnified party which may reasonably be considered likely to give rise to a liability under the indemnities provided for in sections 9.1 or 9.2, then, as soon as reasonably practicable, the indemnified party will give written notice of the claim to the indemnifying party, specifying the nature of the claim in reasonable detail. The indemnifying party will have sole control of the defence of the claim (except that the indemnifying party may not settle the claim without the consent of the indemnified party unless the settlement unconditionally releases the indemnified party of all liability). The indemnified party will not make any admission of liability, agreement or compromise in relation to the claim without the prior written consent of the indemnifying party (such consent not to be unreasonably conditioned, withheld or delayed). The indemnified party will furnish the indemnifying party with such information as the indemnified party may have with respect to such claim (other than legal advice relating to such claim) and will otherwise cooperate in good faith with and provide reasonable assistance to the indemnifying party in the defense of such claim.

9.3 Mitigation. Each party will use commercially reasonable efforts to mitigate any damages it suffers under this Agreement. Nothing in this section 9 or in any other provision of this Agreement shall restrict or limit a party’s duty to mitigate its damages.

10. Limitation and Exclusion of Liability

10.1 Exclusion of Consequential Damages. Subject to section 10.3, in no event will either party or its Affiliates have any liability to the other party or its Affiliates arising out of or related to this Agreement for: (a) any damages characterized as lost revenue, savings, profits, goodwill or reputation or similar economic claims; or (b) any indirect, consequential, incidental, exemplary, aggravated, punitive or special damages, even if such party has been advised of the possibility of such damages in advance, and whether the claim is made in contract or tort (including negligence), breach of warranty, strict liability, indemnity or under any other theory of liability.

10.2 Maximum Liability. Subject to section 10.3, in no event shall the aggregate liability of each party and that party’s Affiliates arising out of or related to this Agreement exceed the greater of: (a) $100,000; or (b) the total Fees actually received by Lendesk under this Agreement in the 12 months immediately preceding the date the cause of action first arose. The foregoing limitation will apply whether the claim is made in contract or tort (including negligence), breach of warranty, strict liability, indemnity or under any other theory of liability, but will not limit Lender’s payment obligations under section 4.

10.3 The limitations and exclusions of liability set out in section 10.1 and section 10.2 will not apply to any indemnification obligation set out in section 9.1 (Lender Indemnity), or for a breach of a party’s obligations in section 5.1 (Confidentiality).

11. Termination of Agreement

11.1 Termination. A party may terminate this Agreement on written notice to the other in accordance with this section 11.1 on the occurrence of one or more of the following events:

11.1.1 the other party commits a material breach of this Agreement and the breach is not remediable;

11.1.2 the other party commits a material breach of this Agreement, the breach is remediable, and the other party fails to remedy that breach within 30 days after being notified in writing to do so; or

11.1.3 the other party: (a) is bankrupt, insolvent, or unable to discharge its liabilities as they become due; (b) commences, maintains or is subject to any proceedings for the benefit of insolvent debtors or for protection from its creditors or relating to its liquidation, dissolution or winding-up or insolvency or the appointment of a receiver, receiver-manager or similar officer or custodian for the person or all or any material part of its assets or business; (c) makes an assignment for the benefit of all or substantially all of its creditors; (d) suspends or ceases, or threatens to suspend or cease, to carry on its business in the normal course; or (e) is subject to any liquidation, winding-up or dissolution.

11.2 Effect of Termination.

11.2.1 From and after the effective date of the expiry or termination of this Agreement, Lender will not process any new Applications through the Lendesk Platform, provided that any transactions already in process will continue to be processed by the parties, and invoiced and paid in the ordinary course under the terms of this Agreement. Lender will pay Fees on Applications which are received by Lender prior to such expiry or termination, whether the Funded Mortgage is funded before or after such expiry or termination.

11.2.2 Neither the expiry nor termination of this Agreement will release either of the parties from any obligation or liability that accrued prior to such expiry or termination.

11.2.3 Sections 3.4.4, 4, 5.1 to 5.3, 6.2, 7.2 to 7.4, 8.2, 8.4, 8.5.2, 9, 10, 11.2 and 12, and the other provisions of this Agreement requiring performance or fulfillment after the expiry or termination of this Agreement, will survive the expiry or termination of this Agreement.

11.2.4 Notwithstanding any other provision of this Agreement, Lendesk may amend, alter, modify, change or terminate the Service (or any portion of the Service) on notice to Lender without cost, charge or liability. Lender hereby agrees that notice is deemed to be given if posted on Website, and no other notice is required.

12. General

12.1 Force Majeure. Neither party will have any liability to the other party for any failure or delay in performing its obligations under this Agreement for the duration of, and to the extent that the failure or delay is caused by, Force Majeure. Each party will use commercially reasonable efforts to promptly notify the other of the Force Majeure causing the failure or delay and its likely duration, and will co-operate with the other party to mitigate the consequences. If the period of failure or delay continues for 15 days, then the unaffected party may terminate this Agreement by giving five Business Days written notice to the affected party.

12.2 Assignment. The Lender agrees not to assign, transfer, mortgage, charge, subcontract, declare a trust over or deal in any other manner with any or all of its rights and obligations under this Agreement without the prior written consent of Lendesk, provided that each party may assign this Agreement to a third party who acquires all or substantially all of its business upon written notice to the other party so long as such third party is a competitor of Lendesk or is a person or entity outside of Canada. Any assignee must agree in writing with other party in advance to be bound by the terms and conditions of this Agreement.

12.3 Public Announcements. Lendesk is entitled to make a public announcement, communication or circular (“Announcement”) concerning this Agreement, and the intended business relationship between the parties, with Lender’s prior written consent regarding the content of such Announcement (not to be unreasonably withheld or delayed). Lendesk may refer to Lender generally in its advertising and marketing materials and discussions as a user of the Lendesk Platform.

12.4 Amendments. No amendment of this Agreement shall be effective unless it is in writing and signed by authorized signatories of the parties. Notices. Notices under this Agreement must be in writing and will be considered given if delivered by courier, hand or email to the address or email address of each party set out below, or to such other address or email address as a party may designate by notice under this section. Notices sent by courier or hand will be deemed to be delivered and received at the time of delivery. Notices sent by email without any notification of delivery errors will be deemed to be delivered and received when sent as follows: (a) if sent before 4 p.m. (Pacific Time) on a Business Day, on that Business Day; and (b) otherwise, on the next Business Day. Email may not be used for notices of a claim, notices of a breach, or notices of termination. Addresses for notice are set out in the Order Form, as may be amended from time to time. Severability. If any provision or part-provision of this Agreement is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision shall not affect the validity and enforceability of the rest of this Agreement. If any provision or part-provision of this Agreement is or becomes invalid, illegal or unenforceable, the parties will negotiate in good faith to amend such provision so that, as amended, it is legal, valid and enforceable, and, to the greatest extent possible, achieves the intended commercial result of the original provision.

12.5 Rights and Remedies. Except as otherwise expressly provided in this Agreement, the rights and remedies provided under this Agreement are in addition to, and not exclusive of, any other right or remedies under this Agreement and any rights or remedies provided by Applicable Laws.

12.6 Waiver. A waiver of any right or remedy under this Agreement or by law is only effective if given in writing and shall not be deemed a waiver of any subsequent breach or default. A failure or delay by a party to exercise any right or remedy provided under this Agreement or by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy provided under this Agreement or by law shall prevent or restrict the further exercise of that or any other right or remedy.

12.7 Language. The parties confirm their express wish that this agreement and all documents related thereto be drawn up in the English language. Les parties confirment leur volonté expresse de voir la présente convention et tous les documents s’y rattachant être rédigés en anglais. If this Agreement is translated into any other language, the English language version shall prevail.

12.8 Quebec Waiver. If and to the extent applicable to Lender, Lender hereby waives any rights it may have pursuant to articles 2126 and 2129 of the Civil Code of Québec and acknowledges that its sole rights and recourses with respect to termination of this Agreement are those set forth in sections 2, 11 and 12.1.

12.9 Independent Parties. Each party agrees that it has no right to bind the other party in contract or otherwise in relation to any customers of either party and neither party shall represent that it has such right. Nothing contained in this Agreement nor any acts of either party shall create, or be deemed or interpreted as creating, a partnership, joint venture or a mandatory relationship, in any manner whatsoever and for any reason whatsoever. Nothing in this Agreement constitutes one party becoming a partner, employer, employee or agent of the other party.

12.10 No Restriction. Nothing in this Agreement shall restrict either party’s right to continue to conduct its business activities or arrangements that existed on the Effective Date or that otherwise come into being following the Effective Date.

12.11 Costs. Each party will pay its own costs incurred in connection with the negotiation, preparation, and execution of this Agreement.

12.12 Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to its subject matter and supersedes all other prior agreements and understandings, both written and oral, between the parties with respect to the subject matter of this Agreement. There are no warranties, conditions, or representations and there are no agreements in connection with such subject matter, except as specifically set forth or referred to in this Agreement. Without limiting the generality of the foregoing, this Agreement supersedes and replaces any preprinted terms which may be included on any commercial documentation exchanged between the parties including any offers to sell, quotations, purchase orders, invoices and shipping documentation.

12.13 Governing Law. This Agreement and any dispute or legal proceeding arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or legal proceedings) shall be governed by and construed in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable in British Columbia. Each party irrevocably agrees that the courts of British Columbia shall have exclusive jurisdiction with respect to any dispute or legal proceeding arising out of or in connection with this Agreement or its subject matter or formation and attorns to the exclusive jurisdiction of the courts of British Columbia.

Last Updated: February 5, 2020.

Privacy Policy

 

Introduction

Lendesk Technologies ULC, conducting business as Lendesk (“Lendesk”) values and respects the privacy of its clients.

This Privacy Policy informs you of Lendesk’s privacy practices regarding your use of lendesk.com (the “Site”).

Contents of the Lendesk Privacy Policy:

  1. Scope and Accountability
  2. Collection, Use and Disclosure of Client Information and Personal Information
  3. Retention and Security
  4. Your Choices
  5. Changes to this Privacy Policy
  6. Contacting Us

1. Scope and Accountability

This Privacy Policy governs the collection, use and disclosure of personal information and client information (each as defined below) in connection with your use of the Site. This Privacy Policy does not apply to information that is not included in the definition of “personal information” in applicable privacy statutes.

All employees and those working on behalf of Lendesk are responsible for following this Privacy Policy. Lendesk will not sell your information to others. Lendesk also has a Privacy Officer who is responsible for overseeing Lendesk’s compliance with this Privacy Policy.

Please see “Contacting Us” for information on how to contact Lendesk’s Privacy Officer.

2. Collection, Use and Disclosure of Client Information and Personal Information

Collection

Client information means any data, including personal information, relating to you or your clients that is entered on the Site or that is stored with Lendesk or third parties engaged by Lendesk. Personal information means any information that may identify a person, such as a name, home address, telephone number, date of birth, e-mail address and social insurance number/social security number, among other things.

When you visit the Site, Lendesk may collect personal information that you provide when you:

  • Register to use the Site; or
  • Contact Lendesk.

In order to process loan applications through the Site, you will be providing Lendesk with client information. Lendesk does not control your information collection or use practices of client information. Lendesk relies on you to obtain the consent of your clients for the use of client information in the Site, as required by applicable privacy laws. At the time of collection, you are required to inform your clients of the purpose of the collection and how their personal information will be used. To the extent that you have provided Lendesk with client information that was not collected by you in accordance with the foregoing, you agree to indemnify Lendesk for any claims or potential claims made against Lendesk and relating to Lendesk’s use and storage of such client information. Such indemnification by you will extend to all losses relating to such claim that are incurred by Lendesk, including expenses.

Lendesk may also collect personal information during your visit to the Site through automatic data collection tools, which include web beacons, cookies, embedded web links, and other commonly used information-gathering tools. These tools collect certain standard information that your browser sends to its website such as your browser type and language and access times. They may also collect information about your internet protocol address and mac address.

Lendesk may also use some of these automatic data collection tools in connection with certain e-mails sent from Lendesk and therefore may collect information using these tools when you open the e-mail or click on a link contained in the e-mail.

We request a phone number and email address in case one of our representatives would need to reach you.

Uses

In addition to the specific purposes described above, certain uses of client information by Lendesk may be performed by Lendesk affiliates, service providers, agents and third parties as described below.

(1) Lendesk’s Use of Client Information and Personal Information

Lendesk shall ensure that the use and disclosure of client information and personal information that it receives from you is limited to the purposes described in this Privacy Policy, your agreements with Lendesk, and as required by law.

Lendesk may also use client information and personal information to:

  • identify you when you log in to your account;
  • enable us to provide our services to you;
  • verify transactions you make and for billing, security, and authentication;
  • analyze the Site, or the other services and information about our visitors, including research into our user demographics and user behaviour in order to improve our content and services;
  • aggregate (non-identifiable) statistics about users of our services to prospective partners.

(2) Service Providers, Agents and Third Party Uses

Lendesk retains service providers, agents and suppliers to deliver products, services and other solutions. Lendesk policies require that service providers, agents and suppliers be required by contract to keep confidential the information received on behalf of Lendesk and not use or disclose it for any purpose other than to carry out the services they are performing for Lendesk.

(3) Foreign Service Providers, Agents and Third Parties

Some of Lendesk’s service providers, agents and suppliers may be located outside of the country in which you are located. While personal information and client information will be subject to the laws of such jurisdictions, Lendesk’s policies require that information processed, stored or used by service providers, agents and suppliers are always subject to the protections described in this Privacy Policy. Your personal information and client information will not be disclosed to third parties except with your consent or as set out in this Privacy Policy.

If you have any questions about the collection, use, disclosure or storage of personal information by service providers outside Canada please contact Lendesk’s Privacy Officer as described below under “Contacting Us”.

Disclosure of Personal Information

Lendesk will not sell, rent or lease your personal information or client information to third parties.

Except as described in this Privacy Policy, Lendesk will not disclose the client information personal information you provide to Lendesk to non-Lendesk affiliates, partners or third parties without your permission, unless to: (i) respond to duly authorized information requests of law enforcement and governmental authorities; (ii) comply with any law, regulation, subpoena or court order; (iii) help prevent fraud or to enforce or protect the rights and properties of Lendesk or its affiliates; (iv) protect the personal safety of Lendesk employees, customers or third parties; (v) assist in collecting any debt owed by you to Lendesk; or (vi) other such disclosures that are authorized, permitted or required under applicable law.

If all or part of Lendesk assets are sold or financed or if Lendesk were to merge with another company, client information and personal information in possession of Lendesk could be disclosed to the lender, buyer or merging entity, provided such client information and personal information were to be used in strict compliance with this Privacy Policy.

3. Retention and Security

Lendesk retains personal information and client information for as long as it is necessary to process related transactions, maintain appropriate financial and audit records, protect Lendesk’s legitimate business interests and for as long as may be required by applicable laws.

All personal information and client information collected by Lendesk is protected by security measures appropriate to the sensitivity of the information.

4. Your Choices

How Lendesk Obtains Your Consent

You provide your express consent to the collection, use and disclosure of personal information and the use and disclosure of client information in accordance with this Privacy Policy when you voluntarily provide the requested information. You provide your implied consent to the use of automatic data collection tools by your continued use of the Site. In some instances, the law permits Lendesk to collect, use and disclose personal information obtained from public sources without your consent. If Lendesk obtains information from third parties other than such public sources, Lendesk requires those third parties to confirm that they have your consent to disclose your personal information for use by Lendesk.

Withdrawal of Consent

You have the right to withdraw your consent to the further collection, use and disclosure of your personal information and the use and disclosure of client information. If you request Lendesk to do so, Lendesk will take steps to destroy or delete client information and personal information that you have provided to us. Residual client information and personal information may remain in archived records or other historical records. In addition, Lendesk is not permitted to destroy business or accounting records of transactions that it is required to keep to: comply with statutory or other legal obligations and assert its legal rights. However, Lendesk will not use client information or personal information for other commercial purposes once you withdraw your consent.

The withdrawal of consent to certain uses or disclosures of client information and personal information will mean that Lendesk is no longer able to provide you with certain features of the Site.

You may withdraw your consent to the use of your personal information for the purpose of sending you information by e-mail by unsubscribing. Each e-mail that we send to you will provide you with the opportunity to unsubscribe.

You may withdraw your consent to the use of automatic data collection tools by managing your privacy settings on your computer, your web browser and any privacy or security software that you operate on your computer. For more information please see the instructions that accompany your computer, web browser and privacy or security software.

If you have any questions about the withdrawal of consent to online collection of personal information, you may submit a written request to Lendesk’s Privacy Officer at the address set out below under “Contacting Us”.

When submitting a request, you will be asked to provide suitable identification or to otherwise identify yourself.

Individual Access to and Correction of Personal Information

Lendesk strives to keep accurate information by using technology and management processes and policies. Upon receipt of a written request Lendesk will provide you with reasonable access to the client information and personal information you provided to Lendesk as well as the ability to correct the information, if necessary.

To protect your privacy and security, Lendesk will also take reasonable steps to verify your identity before releasing any information to a requesting party and before any corrections will be made. Lendesk reserves the right to request appropriate proof of the requested corrections.

To access the personal information provided to Lendesk an individual must submit their request in writing to the address set out below under “Contacting Us”.

Lendesk will refer to you any requests that we may receive for access to client information held by us on your behalf. We will also assist you wherever possible in responding to any access requests you may receive.

5. Changes to This Policy

Lendesk may revise this Privacy Policy from time to time. If Lendesk revises this Privacy Policy, Lendesk will post a link to the revised Privacy Policy in its entirety on lendesk-staging.mystagingwebsite.com/ to include an updated revision date. Lendesk may also notify you by other means such as sending an e-mail or posting a notice.

6. Contacting Us

Lendesk values your opinions. If you have a privacy inquiry, compliment or complaint, you may contact the Lendesk Privacy Officer by submitting a written request to:

Lendesk Technologies ULC
Attn: Lendesk Privacy Officer
1038 Homer Street
Vancouver, British Columbia, V6B 2W9

Last Updated: February 25, 2019