Amendment to Section 4.06. Section 4.06 shall be deleted in its entirety and replaced with the following:
Amendment to Section 4.06. Section 4.06 of the Revenue Agreement is hereby amended by deleting the text thereof and inserting in lieu thereof the following: “King Gxxxxx Holdings Luxembourg IIA S.à r.x. and Guarantor will at all times collectively have access to sufficient funds to satisfy their obligations under Section 2.03 and Section 8.05 as they become due.”
Amendment to Section 4.06. Section 4.06(a) of the Agreement is amended and restated in its entirety to read as follows: (a) Unless the Servicer elects otherwise as described below, if any Receivable was created as a result of a fraudulent or counterfeit charge, the amount of such Receivable shall be applied as a Collection in accordance with Section 4.03 and accounted for in accordance with the Credit Guidelines. To the extent that the Servicer otherwise adjusts, reduces, modifies, offsets or cancels a Receivable in accordance with the Credit Guidelines, without receiving cash or other payment therefor from the Obligor with respect to such Receivable, the amount of any such adjustment resulting in a reduction in Receivables may be applied as a Collection in accordance with Section 4.03, and the amount of any such adjustment resulting in an increase in Receivables may be deducted from amounts deemed Collections. The Servicer may elect to account for such adjustments to Receivables by decreasing or increasing the amount of the Seller Interest in the Trust rather than increasing or decreasing the amount of Collections for such Due Period. The Servicer may also make a one-time adjustment to Receivables in connection with the January 2001 Distribution Date, which shall be reflected by increasing or decreasing the amount of the Seller Interest. To the extent that the Servicer credited an Account for the amount of a Collection in excess of the aggregate amount of Receivables in such Account, the Servicer shall either (i) deduct the amount of the excess from Collections or (ii) decrease the amount of the Seller Interest in the Trust by the amount of such excess. To the extent that the Servicer subsequently refunds to the Obligor of an Account a credit balance on such Account that was not previously deducted from Collections, the Servicer shall increase the Seller Interest by the amount of such refund and shall deduct the amount of such refund from amounts deemed Collections. In the event that any adjustment to the Seller Interest pursuant to this Section 4.06(a) would cause the Seller Interest to be an amount less than zero, the Seller shall, no later than the Business Day following the last day of the Due Period during which such adjustment is made, deposit into the Collections Account in immediately available funds an amount equal to the amount by which such adjustment exceeds the Seller Interest. IV.
