Document:

Exhibit

CREDIT SERVICES ORGANIZATION GUARANTY

THIS CREDIT SERVICES ORGANIZATION GUARANTY (this “CSO Guaranty”) is entered into as of  September 29, 2017, by RISE CREDIT SERVICE OF OHIO, LLC (hereinafter referred to as "CSO"), to and for the benefit of REDPOINT ASSET FUNDING OHIO, LLC (hereinafter referred to as "Lender").

RECITALS

Whereas, CSO desires to provide Lender with respect to Lender’s Ohio lending program a guaranty as further described herein in furtherance of the credit services program of CSO, acting as a credit services organization, for providing credit services to borrowers pursuant to the Credit Services Agreement dated the date hereof between CSO and Lender (the “Credit Services Agreement”), including issuing guaranties on behalf of borrowers to enhance their credit, and brokering loans between Lender and borrowers pursuant to Lender’s Ohio lending program.

NOW, THEREFORE, in consideration of the extension of credit by Lender under Lender’s Ohio loan program to Ohio borrowers and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, CSO and Lender agree as follows:

1.    Guaranty.  Pursuant to each credit services contract between CSO and each borrower with respect to loans offered by Lender under Lender’s Ohio lending program (each a “Loan”), and regardless of whether the credit services contract is cancelled, CSO agrees to, and hereby does, unconditionally guaranty, on behalf of the borrower, and for the benefit of Lender, the prompt payment of all amounts due under each Loan to Lender, including, without limitation, all principal, interest and accrued fees (the “Loan Guaranty Amount”).  

2.    Assignment.  On the Specified Date (as hereinafter defined), CSO will make payment to Lender on the guaranty for each defaulted Loan for the applicable Loan Guaranty Amount.  Payment of the Loan Guaranty Amount shall be paid by ACH from CSO to Lender on a weekly basis on the Specified Date (or next business day if the Specified Date is not a business day).  Upon payment of the Loan Guaranty Amount with respect to a defaulted Loan, such defaulted Loans will be assigned by Lender to CSO without recourse pursuant to a Master Assignment of Promissory Notes (the "Master Assignment") to be executed by CSO and Lender concurrently herewith.  Following such assignment, all amounts paid by borrowers with respect to such defaulted Loans (including the proceeds of any new Loans made to borrowers by Lender for the purpose of refinancing such defaulted Loans) shall be for the account of CSO.

The Specified Date shall be as follows:

i.    The Specified Date shall be the day following the second successive missed payment, or in the case of the final scheduled payment of any Loan, the day following the due date of such final payment.  

 ii.    For all other defaults or upon the death or bankruptcy of the borrower, the Specified Date shall be the date of the default, or the date of the expiration of any applicable cure period, whichever is later.

3.    Settlement.  The parties agree to settle all amounts due from one party to the other pursuant to this CSO Guaranty on a weekly basis, including any amounts owed by Lender to CSO as a result of CSO fees payable from Lender to CSO for loans funded.  Any payment due from one party to the other under this 

CSO Guaranty shall be made by an automatic clearinghouse transfer with next day settlement on the business day immediately succeeding the transaction date.  The settlement, payment and assignment obligations of the parties under this CSO Guaranty and the Credit Services Agreement shall survive the termination of this CSO Guaranty and the Credit Services Agreement will remain in effect as long as any Loans remain unpaid or any party owes any amount to the other party under the Credit Services Agreement or this CSO Guaranty.  Except as may otherwise be agreed to in writing by CSO and Lender, in the event of any default by either party of its payment obligations under the Credit Services Agreement or this CSO Guaranty, the non-defaulting party shall have the right, but not the obligation, to offset against its outstanding payment obligations owing to the defaulting party an amount equal to the amount of the defaulting party’s outstanding payment obligations owing to the non-defaulting party.

4.    Governing Law; Arbitration; Consent to Jurisdiction. 
a.Governing Law and Jurisdiction.  This CSO Guaranty shall be construed and performed in accordance with the laws of the State of Ohio, without reference to Ohio choice of law or conflicts of law.  All parties agree that any arbitration or litigation related to this CSO Guaranty or any dispute between the parties will be conducted in Tarrant County, Texas, unless the parties mutually agree on another location.  Each party consents to subject matter jurisdiction, personal jurisdiction and venue in Tarrant County, Texas.

b.Arbitration.  Any controversy or claim arising out of or relating to this CSO Guaranty, or the breach thereof, shall be settled by binding arbitration administered by the American Arbitration Association (the “AAA”) under its Commercial Arbitration Rules, and any temporary or final judgment or award rendered by the arbitrator(s) may be entered in any state or federal court in Tarrant County, Texas.   All parties expressly waive their right to a jury trial for any such claim. 

c.    Injunctive and Other Relief.  This agreement to arbitrate includes claims for injunctive relief, and the parties agree that the AAA has the jurisdiction and authority to grant temporary or preliminary injunctive relief pursuant to Rule 38 of the AAA Commercial Arbitration Rules. The parties agree that the arbitrator(s) shall not have the power to award punitive or exemplary damages for any claim or controversy.

d.    Fees and Expenses.  The parties agree that the AAA Commercial Arbitration Rules govern the award of attorney fees and expenses, and hereby expressly permit the AAA arbitrator or panel to award reasonable and necessary attorney fees and expenses in their discretion to the prevailing party in their discretion.  

e.    Confidentiality.  At the request of either party, the arbitration proceedings and any award or judgment will be conducted in the utmost confidentiality; in such case all documents, testimony and records shall be received, heard and maintained by the arbitrator or panel in confidence, available for inspection only by the parties and their respective attorneys and experts, who agree to maintain such information in confidence.

f.    Joinder.  Where applicable, all disputes hereunder shall be joined in or consolidated with the related proceeding(s), if any, among Lender and any affiliated entities.

5.    Waiver.  Neither party hereto shall be deemed to have waived any of its rights, powers or remedies hereunder except in an express writing signed by an authorized agent or representative of the party to be charged with such waiver.

6.    Counterparts.  This CSO Guaranty may be executed and delivered by the parties hereto in any number of counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.  In proving this CSO Guaranty in any judicial proceedings, it shall not be necessary to produce or account for more than one such counterpart signed by the party against whom such enforcement is sought.  Delivery of a signature hereto by facsimile transmission or by e-mail transmission of a document in the form of an Adobe portable digital file (PDF) shall be as effective as delivery of a manually executed counterpart hereof, and any such facsimile or PDF signature shall be treated as an original signature to this Guaranty.

7.    Further Assurances.  From time to time, the parties will execute and deliver to the other such additional documents and will provide such additional information as either may reasonably require carrying out the terms of this Guaranty.

8.    Amendments and Modifications; Entire Agreement.  This CSO Guaranty may be amended or modified only by a writing signed by duly authorized representatives of each party and dated subsequent to the date hereof.  This CSO Guaranty constitutes the entire agreement of the parties and shall supersede and merge all prior communications, representations, or agreements, either oral or written, between the parties hereto and thereto with respect to the subject matter hereof and thereof, except where survival of prior written agreements is expressly provided for herein or therein.

[SIGNATURE PAGE TO FOLLOW.]

In witness whereof, CSO has executed this CSO Guaranty as of the day and year first written above.

	
		
	 
	CSO:

	 
	RISE CREDIT SERVICE OF OHIO, LLC

	 
	 

	 
	By: /s/ Chris Lutes

	 
	Printed Name: Chris Lutes

	 
	Title: CFO

	 
	 

	Agreed and Accepted:
	 

	REDPOINT ASSET FUNDING OHIO, LLC
	 

	 
	 

	By: /s/ Andy Thomas
	 

	Printed Name: Andy Thomas
	 

	Title: Managing DirectorExhibit

PARENT GUARANTY

THIS PARENT GUARANTY (this “Guaranty”) is made as of September 29, 2017, by RISE CREDIT, LLC and ELEVATE CREDIT, INC. (hereinafter collectively referred to as "Guarantors"), to and for the benefit of REDPOINT ASSET FUNDING OHIO, LLC, a Texas limited liability company (hereinafter referred to as "Lender").

RECITALS

Whereas, RISE CREDIT SERVICE OF OHIO, LLC ("CSO"), an affiliate of Guarantors, has, on even date herewith, entered into a Credit Services Agreement (as such agreement may be amended from time to time, the "Services Agreement") with Lender.  To induce Lender to enter into the Services Agreement, Guarantors have agreed to guaranty the obligations of CSO under the Services Agreement, as further described herein.

Now, therefore, in consideration of the premises recited above and of other good and valuable consideration, the receipt and sufficiency of all of which are hereby acknowledged by Guarantors; and for the purpose of inducing Lender to enter into the Services Agreement; and as long as CSO or its successors or assigns continues to be obligated to Lender in any manner whatsoever pursuant to the Services Agreement, Guarantors:

1.Unconditionally and absolutely guarantee: (a) the due and punctual payment of all amounts due and payable from CSO to Lender under the Services Agreement and the Guaranty from the CSO in favor of Lender (the “CSO Guaranty”), including, but not limited to, all guaranty payment obligations, and settlement payment obligations (as applicable); and (b) the due and punctual performance and observance by CSO of all other obligations, warranties, covenants, and duties of CSO set forth in the Services Agreement or the CSO Guaranty (all of which amounts payable and the terms, warranties, agreements, covenants and conditions, as the same may vary or be modified from time to time, being herein called the "Obligations"); and to this end, Guarantors covenant and agree to take all commercially reasonable actions necessary to enable CSO to observe and perform and to refrain in a commercially reasonable manner from taking any action which would prevent CSO from observing and performing each and every such Obligation.

2.Agree that this Guaranty shall be a continuing guaranty, shall be binding upon Guarantors, and upon their successors and assigns, and shall remain in full force and effect, and shall not be discharged, impaired or affected by (a) the existence or continuance of any of the Obligations; (b) the existence or continuance of CSO as a legal entity; (c) any waiver, indulgence, alteration, substitution, exchange, change in, modification or other disposition of any of the Obligations, all of which CSO is hereby expressly authorized to make from time to time without notice to Guarantors; (d) the acceptance by Lender of any security for, or other guarantors upon, all or any part of the Obligations; or (e) any assignment or purported assignment of the Services Agreement or any or all of CSO's obligations under the Services Agreement or the CSO Guaranty.  Guarantors shall have the right to assert as a defense to its performance under this Guaranty any legal defense that CSO may assert as to the Obligations other than the invalidation of any Obligation or any document or agreement evidencing the Obligations or any of them under a theory of public policy, which defense Guarantor hereby expressly waives.

3.Agree that Guarantors shall be held jointly and severally liable hereunder and Lender shall have the right to enforce this Guaranty against Guarantors for and to the full amount of the 

Obligations, with or without enforcing or attempting to enforce this Guaranty against any other guarantor, without any obligation on the part of Lender, or anyone, at any time, to resort to any collateral, security, property, liens or other rights or remedies whatsoever, and whether or not other proceedings or steps are pending or have been taken or have been concluded to enforce or otherwise realize upon the obligations, properties, estates or security of CSO or any other guarantor; and the payment of any amount or amounts by Guarantors, pursuant to their obligations hereunder, shall not entitle Guarantors, either at law or otherwise, to any right, title or interest (whether by way of subrogation or otherwise) in and to any of the Obligations, unless and until the full amount of the Obligations has been fully paid, all other Obligations have been fully performed and observed in accordance with their terms and the Services Agreement has been terminated.

4.Waive diligence, presentment, protest, notice of dishonor, demand for payment, extension of time of payment, notice of acceptance of this Guaranty, nonpayment at maturity and indulgences and notices of every kind, and consent to any and all forbearance and extensions of the time of payment of the Obligations, and further consent to any and all changes in the terms, covenants and conditions thereof hereafter made or granted; it being the intention that Guarantors shall remain liable under this Guaranty until the Obligations shall have been fully repaid to Lender and the terms, covenants and conditions thereof shall have been fully performed and observed by CSO, notwithstanding any act, omission or thing which might otherwise operate as a legal or equitable discharge of Guarantors.

5.Represent that Guarantors have determined that the making of this Guaranty reasonably may be expected to benefit, directly and indirectly, Guarantors.

6.Agree that this Guaranty shall inure to the benefit of and may be enforced by Lender and its successors and assigns.

7.Governing Law and Jurisdiction.  This Guaranty shall be construed and performed in accordance with the laws of the State of Ohio, without reference to Ohio choice of law or conflicts of law.  All parties agree that any arbitration or litigation related to this Guaranty or any dispute between the parties will be conducted in Tarrant County, Texas, unless the parties mutually agree on another location.  Each party consents to subject matter jurisdiction, personal jurisdiction and venue in Tarrant County, Texas.

8.Arbitration.  Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled by binding arbitration administered by the American Arbitration Association (the “AAA”) under its Commercial Arbitration Rules, and any temporary or final judgment or award rendered by the arbitrator(s) may be entered in any state or federal court in Tarrant County, Texas.  All parties expressly waive their right to a jury trial for any such claim. 

9.    Injunctive and Other Relief.  This agreement to arbitrate includes claims for injunctive relief, and the parties agree that the AAA has the jurisdiction and authority to grant temporary or preliminary injunctive relief pursuant to Rule 38 of the AAA Commercial Arbitration Rules. The parties agree that the arbitrator(s) shall not have the power to award punitive or exemplary damages for any claim or controversy.

10.    Fees and Expenses.  The parties agree that the AAA Commercial Arbitration Rules govern the award of attorney fees and expenses, and hereby expressly permit the AAA arbitrator or 

panel to award reasonable and necessary attorney fees and expenses in their discretion to the prevailing party in their discretion.  

11.    Confidentiality.  At the request of either party, the arbitration proceedings and any award or judgment will be conducted in the utmost confidentiality; in such case all documents, testimony and records shall be received, heard and maintained by the arbitrator or panel in confidence, available for inspection only by the parties and their respective attorneys and experts, who agree to maintain such information in confidence.

12.    Joinder.  Where applicable, all disputes hereunder shall be joined in or consolidated with the related proceeding(s), if any, among Lender, CSO, Guarantor and any affiliated entities.

[SIGNATURE PAGE TO FOLLOW.]

Guarantor has executed this instrument as of the day and year first written above.

	
		
	 
	GUARANTORS:

	 
	RISE CREDIT, LLC

	 
	 

	 
	By: /s/ Chris Lutes

	 
	Its: CFO

	 
	 

	 
	ELEVATE CREDIT, INC.

	 
	 

	 
	By: /s/ Chris Lutes

	 
	Its: CFO

	 
	 

	Agreed and Accepted:
	 

	REDPOINT ASSET FUNDING OHIO, LLC
	 

	 
	 

	By: /s/ Andy Thomas
	 

	Its: Managing Director

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