Acceptance of Appointment and Other Matters. Relating to ------------------------------------------------------- the Servicer. ------------
Acceptance of Appointment and Other Matters. Relating to the Servicer....................... 16 Section 3.2.
Acceptance of Appointment and Other Matters. Relating to the Servicer 47 Section 4.02 Servicing Compensation 48 Section 4.03 Representations, Warranties and Covenants of the Servicer 48
Acceptance of Appointment and Other Matters. Relating to the Servicer 41 Section 3.02. Servicing Compensation 42 Section 3.03. Representations, Warranties and Covenants of the Servicer 42 Section 3.04. Reports and Records for the Trustee 45 Section 3.05. Annual Certificate of Servicer 45
Acceptance of Appointment and Other Matters. Relating to the Trust Cash Manager
Acceptance of Appointment and Other Matters. Relating to the Servicer 15 Section 3.02 Servicing Compensation 18 Section 3.03 Representations, Warranties and Covenants of the Servicer 19 Section 3.04 Records and Reports for the Trustee 24 Section 3.05 Annual Servicer's Certificate 25 Section 3.06 Annual Independent Public Accountants' Servicing Report 25 Section 3.07 Tax Treatment 26 Section 3.08 Notices to Transferor 27 Section 3.09 Dilution Factors 27 Section 3.10 Covenant to Maintain Privileges 27 ARTICLE IV RIGHTS OF CERTIFICATEHOLDERS AND ALLOCATION AND APPLICATION OF COLLECTIONS 27 Section 4.01 Rights of Certificateholders 27 Section 4.02 Establishment of Collection Account 28 Section 4.03 Collections and Allocations 29 Section 4.04 Daily Allocations of Collections Allocated to a Series 31 Section 4.05 Determination of Interest Distributable on Investor Certificate 31 Section 4.06 Determination of Principal Distributable on Investor Certificates 31 Section 4.07 Distributions from Series Collection Sub-subaccounts 31 Section 4.08 Funds Unrelated to Receivables 31 ARTICLE V DISTRIBUTIONS AND REPORTS TO CERTIFICATEHOLDERS 32 Section 5.01 Distributions 32 Section 5.02 Monthly Investor Certificateholders' Statement; Annual Tax Statement 32 ARTICLE VI THE CERTIFICATES 33 Section 6.01 The Certificates 33 Section 6.02 Authentication of Certificates 33 Section 6.03 Registration of Transfer and Exchange of Certificates 34 Section 6.04 Mutilated, Destroyed, Lost or Stolen Certificates 36 Section 6.05 Persons Deemed Owners 36 Section 6.06 Appointment of Paying Agent 37 Section 6.07 Access to List of Certificateholders' Names and Addresses 37 Section 6.08 Authenticating Agent 38 Section 6.09 New Issuances 39 Section 6.10 Book-Entry Certificates 40 Section 6.11 Notices to Clearing Agency 41 Section 6.12 Definitive Certificates 41 Section 6.13 Letter of Representations 42 ARTICLE VII OTHER MATTERS RELATING TO THE TRANSFEROR 42 Section 7.01 Liability of the Transferor 42 Section 7.02 Merger or Consolidation of, or Assumption of the Obligations of, the Transferor 42 Section 7.03 Limitation on Liability of the Transferor 43
Acceptance of Appointment and Other Matters. Relating to the Servicer
Acceptance of Appointment and Other Matters. Relating to ------------------------------------------------------- the Servicer. (a) The Servicer shall service and administer the Receivables, ------------ shall collect payments due under the Receivables and shall charge-off as uncollectible Receivables, all in accordance with its customary and usual servicing procedures in effect from time to time for servicing wholesale receivables comparable to the Receivables which the Servicer services for its own account and in accordance with the Financing Guidelines; provided, however, -------- ------- that (i) the Servicer shall change its policy for charging off wholesale receivables as totally uncollectible only upon satisfaction of the Rating Agency Condition and (ii) in respect of a Floorplan Agreement, the obligation of the related Manufacturer to repurchase repossessed Products may be modified and subject to various terms, but shall not be deleted; and provided, further, that -------- if a Successor Servicer shall succeed to the duties of the Servicer, the Successor Servicer shall service the Receivables in accordance with standards that would be employed by a prudent lender in servicing comparable receivables for its own account. The Servicer shall have full power and authority, acting alone or through any party properly designated by it hereunder, to do any and all things in connection with such servicing and administration which it may deem necessary or desirable. Without limiting the generality of the foregoing and subject to Section 10.1, the Servicer is hereby authorized and empowered, unless such power and authority is revoked by the Trustee on 49 account of the occurrence of a Servicer Default pursuant to Section 10.1, (i) to instruct the Trustee to make withdrawals and payments from the Collection Account and any Series Account as set forth in this Agreement or any Supplement, (ii) to instruct the Trustee to take any action required or permitted under any Enhancement, (iii) to execute and deliver, on behalf of the Trust for the benefit of the Certificateholders and the other Beneficiaries, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Receivables and, after the delinquency of any Receivable and to the extent permitted under and in compliance with applicable Requirements of Law, to commence enforcement proceedings (which, to the extent permitted by applicable law, may be in the name of ...
Acceptance of Appointment and Other Matters. Relating to the Servicer 17 Section 3.2. Representations, Warranties and Covenants of the Servicer 18 Section 3.3. Reports and Records for the Owner Trustee and the Indenture Trustee 21 Section 3.4. Annual Certificate of Servicer 22 Section 3.5. Annual Servicing Report of Independent Public Accountants; Copies of Reports Available 22 Section 3.6. Tax Treatment 22 Section 3.7. Notices to American Express Entities 23 Section 3.8. Recoveries 23 Section 3.9. Reports to the Commission 23 ARTICLE IV
Acceptance of Appointment and Other Matters. Relating to the Servicer...........................................38 SECTION 3.02. Servicing Compensation......................................40 SECTION 3.03. Representations, Warranties and Covenants of the Servicer..................................................40 SECTION 3.04. Reports and Records for the Trustee.........................43 SECTION 3.05. Annual Certificate of Servicer..............................43
