Credit and Collection Policy and Contracts. Subject to compliance with all Requirements of Law, the applicable Credit Card Originator and the Servicer shall comply with and perform its obligations under the Contracts relating to the Accounts and the Credit and Collection Policy except insofar as any failure so to comply or perform would not materially and adversely affect the rights of the Trust and the beneficiaries thereof. Subject to compliance with all Requirements of Law, the Servicer or such Credit Card Originator may change the terms and provisions of the Contracts or the Credit and Collection Policy with respect to any of the Accounts in any respect (including the calculation of the amount, or the timing, of charge-offs and the Periodic Finance Charges and other fees to be assessed thereon) only if in the reasonable judgment of the Servicer or such Credit Card Originator, as applicable, (i) at the time of such action, the Servicer or Credit Card Originator reasonably believes that such action will not materially and adversely affect the rights of the Trust or the beneficiaries thereof, and (ii) such change is made applicable to the comparable segment of the revolving credit accounts owned by the Credit Card Originator or serviced by the Servicer which have characteristics the same as, or substantially similar to, the Accounts that are the subject of such change, except as otherwise restricted by an endorsement, sponsorship, or other agreement between HSBC Nevada or an Affiliate of HSBC Nevada (or Credit Card Originator if HSBC Nevada is not the Credit Card Originator) and an unrelated third party or by the terms of the Contracts. In the event any of the representations, warranties or covenants of the Servicer set forth in this Section 3.3 are breached, the Transferor, the Trustee and the Trust shall have the remedies set forth in Section 8.4.
Credit and Collection Policy and Contracts. The Seller shall comply with and perform its obligations under the Contracts relating to the Accounts and the Credit and Collection Policy except insofar as any failure so to comply or perform would not materially and adversely affect the rights of the Trust and the beneficiaries thereof. Subject to compliance with all Requirements of Law, the Seller may change the terms and provisions of the Contracts or the Credit and Collection Policy with respect to any of the Accounts in any respect (including the calculation of the amount, or the timing, of charge-offs and the Periodic Finance Charges and other fees to be assessed thereon) only if in the reasonable judgment of the Seller (i) (if it owns a comparable segment of receivables) such change is made applicable to any comparable segment of the consumer revolving credit card accounts owned by the Seller which have characteristics the same as, or substantially similar to, such Accounts or (ii) (if it does not own such a comparable segment of receivables) such change will not be made with the intent to materially benefit the Seller over the Buyer, Metris Receivables, Inc., or the Trust and the beneficiaries thereof or to materially adversely affect the Buyer, Metris Receivables, Inc., or the Trust and the beneficiaries thereof, except as otherwise restricted by an endorsement, sponsorship or other agreement between the Seller and an unrelated third party or by the terms of the Contracts. The Seller further covenants that the Seller will not enter into any amendments to this Agreement that would cause a Ratings Event (as defined in the Pooling and Servicing Agreement) to occur so long as there are Investor Securities outstanding.
Credit and Collection Policy and Contracts. The Seller shall comply with and perform its obligations under the Contracts relating to the Accounts and the Credit and Collection Policy except insofar as any failure so to comply or perform would not materially and adversely affect the rights of the Trust or the Securityholders hereunder or under the Securities. Subject to compliance with all Requirements of Law, the Seller may change the terms and provisions of the Contracts or the Credit and Collection Policy with respect to any of the Accounts in any respect (including the calculation of the amount, or the timing, of charge-offs and the Periodic Finance Charges and other fees to be assessed thereon) only if in the reasonable judgment of the Credit Card Originator (i) (if it owns a comparable segment of receivables) such change is made applicable to any comparable segment of the consumer revolving credit card accounts owned by such Credit Card Originator which have characteristics the same as, or substantially similar to, such Accounts or (ii) (if it does not own a comparable segment of receivables) such change will not be made with the intent to materially benefit the Credit Card Originator over the buyer or to materially adversely affect the buyer, except as otherwise restricted by an endorsement, sponsorship, or other agreement between the Credit Card Originator and an unrelated third party or by the terms of the Contracts. The Seller further covenants that it will not enter into any amendments to this Agreement that would cause a Ratings Event to occur.
Credit and Collection Policy and Contracts. The Seller shall comply with and perform its obligations under the Contracts and the Accounts and the Credit and Collection Policy except insofar as any failure so to comply or perform would not materially and adversely affect the rights of the Buyer hereunder. Except as the Seller deems necessary to maintain its credit card business on a competitive basis or as required by law, it will not reduce the annual percentage rates of the Periodic Finance Charges assessed on the Receivables or other fees charged on the Accounts if, as a result of any such reduction, a pay out event (or other early termination event) would occur under any Pooling and Servicing Agreement. Subject to compliance with all Requirements of Law and the restrictions
