*What happens if an Upstart loan defaults?

If the loan corresponding to your Loan-Related Security defaults and the borrower fails to make payments to the issuer, the issuer will not be obligated to make payments on your Loan-Related Security, and you will not receive any payments on your Loan-Related Security. 

The issuer has no obligation and no ability to make any payments on a Loan-Related Security unless, and then only to the extent that, the trust receives payments in respect of the corresponding loan, after the deduction of any accrued fees, expenses and charges due.

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