Additional Covenants of Transferor Clause Samples

Additional Covenants of Transferor. In addition to the covenants and agreements of Transferor set forth elsewhere in this Agreement, Transferor covenants and agrees that between the Execution Date and the Closing Date (or the date of earlier termination hereof, if applicable):

Additional Covenants of Transferor. 79 SECTION 18. Series 1997-2 Investor Exchange. ............................. 79 -i-

Additional Covenants of Transferor. People's Bank, in its ---------------------------------- capacity as Transferor, hereby covenants that following the occurrence of a Series Pay Out Event described in Section 9A(c) hereof, except as otherwise required by any Requirements of Law, it will not reduce the Periodic Finance Charges assessed on any Receivable, or other fees on any Account if the Transferor reasonably believes that, as a result of such reduction, (i) the weighted average of the Periodic Finance Charges on the last day of the Monthly Period during which such reduction will be effective (weighted based on the Transferor's reasonable belief as to the Principal Receivables which will be outstanding on such last day) will be less than (ii) the sum of (1) 2.00% and (2) the weighted average of the Certificates Rates of each Series that will be outstanding on such last day (weighted based on the Transferor's reasonable belief as to (x) the amount of the Investor Interest of each Series that will be outstanding on such last day, (y) in the case of Series for which the Certificate Rate is a floating rate, the Certificate Rate applicable to such Monthly Period, and (z) in the case of the Series 1997-1 Investor Certificates, the weighted average (weighted based on the Transferor's reasonable belief as to the Principal Receivables which will be outstanding on such last day) of (A) the lesser of the Class A Certificate Rate and the Class A Cap Rate, (B) the lesser of the Class B Certificate Rate and the Class B Cap Rate and (C) the Collateral Rate.