Financing Glossary

Borrower's Equity	-	the actual difference between the Fair Market Value of the Collateral and the Loan Balance.
Borrower's Equity Level	-	the Borrower's Equity divided by the Fair Market Value of the Collateral stated as a percentage.
Collateral	-	all precious metals, non-precious metals, coins and other property rights ("Metals") acceptable to the Lender in which Borrower is granted Lender a security interest.
Equity Call	-	a notice given by Lender to Borrower advising the Borrower that the Borrower's Equity Level has declined to or below the Equity Call Level.
Equity Call Level	-	the minimum Borrower's Equity Level that Borrower must maintain in order to avoid an Equity Call.
Fair Market Value of the Collateral	-	the price that any reputable wholesale metals dealer selected by Lender, including any wholesale metals dealer that may be affiliated with Lender, is willing to offer in its normal course of business to purchase the Collateral.
Liquidation Level	-	the minimum Borrower's Equity Level that Borrower must maintain in order to avoid liquidation of Collateral.
Loan Balance	-	the total sum of all amounts owed by Borrower to Lender, which sum shall include all unpaid principal, interest, fees, charges, costs and any other amounts that Borrower is obligated to pay Lender pursuant to this Agreement.
Loan Not Used to Purchase Collateral	-	if you already own precious metals, A-Mark will accept your precious metals as collateral for this program. Collateral must be received and authenticated by A-Mark or its designee prior to funding
Loan Origination Fee	-	a fee charged to cover the costs of documenting and administration of your loan prior to funding.
Loan Service Fee	-	The fee charged by Lender to Borrower (1) when an advance of additional money is made, and (2) on the last day of each month during which the Borrower has a Loan Balance. Loan Service Fee shall be charged in advance for the next month and is non-refundable.
Loan Used to Purchase Collateral	-	if you do not presently own precious metals, A-Mark will make funds available to you through this program to purchase precious metals collateral.