Credit Card Agreements and Account Guidelines Sample Clauses

Credit Card Agreements and Account Guidelines. The Transferor shall comply with and perform its obligations under the Credit Card Agreements relating to the Accounts and the Credit Card Guidelines and all applicable rules and regulations of VISA U.S.A., Inc. and MasterCard International Incorporated except insofar as any failure to comply or perform would not materially and adversely affect the rights of the Trust or the Certificateholders hereunder or under the Certificates. The Transferor may change the terms and provisions of the Credit Card Agreements or the Credit Card Guidelines in any respect (including, without limitation, the reduction of the required minimum monthly payment, 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 such change (i) would not, in the reasonable belief of the Transferor, cause a Pay Out Event to occur, and (ii) is made applicable to the comparable segment of the revolving credit card accounts owned and serviced by the Transferor 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 the Transferor and an unrelated third party or by the terms of the Credit Card Agreements.
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Credit Card Agreements and Account Guidelines. The Transferor shall enforce the covenant in the Receivables Purchase Agreement requiring the RPA Seller to comply with and perform its obligations under the Credit Card Agreements relating to the Accounts and the Credit Card Guidelines and all applicable rules and regulations of VISA U.S.A., Inc. and MasterCard International Inc. (to the extent applicable) except insofar as any failure to comply or perform would not materially and adversely affect the rights of the Trustee or the Certificateholders hereunder or under the Certificates or other Transaction Documents. The Transferor may permit the Credit Card Originator to change the terms and provisions of the Credit Card Agreements or the Credit Card Guidelines in any respect (including, without limitation, the reduction of the required minimum monthly payment, 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 such change (i) would not, in the reasonable belief of the Transferor, cause a Pay Out Event to occur, and (ii) is made applicable to the comparable segment of the revolving credit card accounts owned and serviced by the Credit Card Originator 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 the Credit Card Originator and an unrelated third party or by the terms of the Credit Card Agreements; provided, however, that for purposes of WFB’s debt deferral and debt cancellation programs, the requirement of Section 2.05(c)(ii) shall be deemed satisfied if the opportunity to initiate the change is made available to a substantial portion of the comparable segment of the revolving credit card accounts owned and serviced by WFB which have characteristics the same as, or substantially similar to, the Accounts to which such opportunity is made available.
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Credit Card Agreements and Account Guidelines. The Seller shall --------------------------------------------- comply with and perform its obligations under the Credit Card Agreements relating to the Accounts and the Account Guidelines and all applicable rules and regulations of VISA USA, Inc. and MasterCard International Incorporated except insofar as any failure so to comply or perform would not materially and adversely affect the rights of the Trustee, on behalf of the Trust, or the Certificateholders hereunder or under the Certificates. The Seller may change the terms and provisions of the Credit Card Agreements or the Account Guidelines in any respect (including, without limitation, the reduction of the required minimum monthly payment, the calculation of the amount, or the timing, of charge offs and the Periodic Finance Charges and other fees to be assessed thereon) with respect to the Accounts only (i) if the Seller has a comparable segment of consumer revolving credit card accounts (or consumer revolving accounts), if such change is made applicable to the comparable segment of the consumer revolving credit card accounts (or consumer revolving accounts) owned and serviced by the Seller which have characteristics the same as, or substantially similar to, the Accounts which are the subject of such change or (ii) if the Seller does not own such a comparable segment of consumer revolving credit card accounts (or consumer revolving accounts), if the Seller shall not make such change with the intent to materially benefit the Seller over the Certificateholders; provided, however, that the Seller will -------- ------- not increase the timing of charge offs beyond the time which the Seller deems to be necessary to maintain its credit card business, based upon a good faith assessment of the Seller, in its sole discretion, of the nature of the competition of the credit card business (provided, further, that -------- ------- accounts purchased by the Seller from other credit card issuers, or other consumer revolving credit accounts, shall not be considered to be a comparable segment of revolving credit card accounts for the purposes of this subsection 2.5(d) until such time as any of the accounts purchased by ----------------- the Seller from such issuer or consumer revolving credit accounts, as the case may be, become Accounts pursuant to the provisions of Section 2.6), -------------- except as otherwise restricted by the terms of the Credit Card Agreements.
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Credit Card Agreements and Account Guidelines. It will cause DNB and Mercantile to comply with and perform their obligations under the Credit Card Agreements relating to the Accounts, the Credit Card Guidelines except insofar as any failure to comply or perform would not materially and adversely affect the rights of the Trust or the Certificateholders hereunder or under the Certificates. Except as expressly provided in any Supplement, the Transferor may permit DNB and Mercantile to change the terms and conditions of the Credit Card Agreements or the Credit Card Guidelines in any respect (including, without limitation, the reduction of the required minimum monthly payment, 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 such change (i) would not, in the reasonable belief of DNB or Mercantile cause a Pay Out Event to occur, (ii) is made applicable to a substantial portion of the comparable segment of the revolving credit card accounts owned by DNB and Mercantile 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 DNB or Mercantile and an unrelated third party or by the terms of the Credit Card Agreements, and (iii) such change would not materially and adversely affect the rights of the Trust or the Certificateholders hereunder or under the Certificates of any Series then-outstanding.
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Credit Card Agreements and Account Guidelines. The Transferor shall cause the Originators to comply with and perform their respective obligations under the Credit Card Agreements relating to the Accounts and the Credit Card Guidelines except insofar as any failure to comply or perform would not materially and adversely affect the rights of the Trust or the Certificateholders hereunder or under the Certificates. The Transferor may permit an Originator to change the terms and provisions of its Credit Card Agreements or the Credit Card Guidelines in any respect (including, without limitation, the reduction of the required minimum monthly payment, 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 such change (i) would not, in the reasonable belief of such Originator, cause a Pay Out Event to occur, and (ii) is made applicable to the comparable segment of the revolving credit card accounts owned by such Originator (if the Originator owns such a comparable segment) 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 such Originator and an unrelated third party or by the terms of the Credit Card Agreements.
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Credit Card Agreements and Account Guidelines. The Transferor shall cause the Originators to comply with and perform their respective obligations under the Credit Card Agreements relating to the Accounts and the Credit Card Guidelines except insofar as any failure to comply or perform would not materially and adversely affect the rights of the Trust or the Certificateholders hereunder or under the Certificates. The Transferor may permit an Originator to change the terms and provisions of its Credit Card Agreements or the Credit Card Guidelines in any respect (including, without limitation, the reduction of the required minimum monthly payment, 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 such change (i) would not, in the reasonable belief of such Originator, cause a Pay Out Event to occur, and (ii) is made applicable to the comparable segment of the revolving credit card accounts owned by such Originator 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 such Originator and an unrelated third party or by the terms of the Credit Card Agreements.
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Credit Card Agreements and Account Guidelines. The Transferor shall enforce the covenant in the Receivables Purchase Agreement requiring FNBO to comply with and perform its obligations under the Credit Card Agreements relating to the Accounts and the Credit Card Guidelines and all applicable rules and regulations of VISA USA, Inc. and MasterCard International Incorporated except insofar as any failure to comply or perform would not materially and adversely affect the rights and interests of the Trustee or the Certificateholders hereunder or under the Certificates or any other Transaction Documents. Except as expressly provided in any Supplement, the Transferor may permit FNBO to change the terms and conditions of the Credit Card Agreements or the Credit Card Guidelines in any respect (including, without limitation, the reduction of the required minimum monthly payment, the calculation of the amount, or the timing, of
Sample 1
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Related to Credit Card Agreements and Account Guidelines

  • Credit Card Agreements Each Borrower and Guarantor shall (a) observe and perform all material terms, covenants, conditions and provisions of the Credit Card Agreements to be observed and performed by it at the times set forth therein; (b) not do, permit, suffer or refrain from doing anything, as a result of which there could be a default under or breach of any of the terms of any of the Credit Card Agreements and at all times maintain in full force and effect the Credit Card Agreements and not terminate, cancel, surrender, modify, amend, waive or release any of the Credit Card Agreements, or consent to or permit to occur any of the foregoing; except, that, any Borrower or Guarantor may terminate or cancel any of the Credit Card Agreements in the ordinary course of the business of such Borrower or Guarantor; provided, that, such Borrower or Guarantor shall give Agent not less than ten (10) Business Days prior written notice of its intention to so terminate or cancel any of the Credit Card Agreements; (c) not enter into any new Credit Card Agreements with any new Credit Card Issuer unless Agent shall have received not less than ten (10) Business Days prior written notice of the intention of such Borrower or Guarantor to enter into such agreement (together with such other information with respect thereto as Agent may request) and such Borrower or Guarantor delivers, or causes to be delivered to Agent, a Credit Card Acknowledgment in favor of Agent; (d) give Agent immediate written notice of any Credit Card Agreement entered into by such Borrower or Guarantor after the date hereof, together with a true, correct and complete copy thereof and such other information with respect thereto as Agent may reasonably request; (e) furnish to Agent, promptly upon the request of Agent, such information and evidence as Agent may require from time to time concerning the observance, performance and compliance by such Borrower or Guarantor or the other party or parties thereto with the terms, covenants or provisions of the Credit Card Agreements; and (f) not modify any instructions given by Agent to any Credit Card Issuer or Credit Card Processor provided for in any Credit Card Acknowledgement or otherwise direct the remittance of payments under any Credit Card Agreement to any account other than the Blocked Account.

  • Performance and Compliance with Contracts and Credit and Collection Policy The Seller shall (and shall cause the Servicer to), at its expense, timely and fully perform and comply with all material provisions, covenants and other promises required to be observed by it under the Contracts related to the Receivables, and timely and fully comply in all material respects with the applicable Credit and Collection Policies with regard to each Receivable and the related Contract.

  • Credit and Collection Policies Comply in all material respects with the Credit and Collection Policy in regard to each Pool Receivable and the related Contract.

  • Compliance with Contracts and Credit and Collection Policy Such Seller Party will timely and fully (i) perform and comply with all provisions, covenants and other promises required to be observed by it under the Contracts related to the Receivables, and (ii) comply in all respects with the Credit and Collection Policy in regard to each Receivable and the related Contract.

  • Modifications to Contracts and Credit and Collection Policy Such Seller Party will not make any change to the Credit and Collection Policy that could adversely affect the collectibility of the Receivables or decrease the credit quality of any newly created Receivables. Except as provided in Section 7.2(d), the Servicer will not, and will not extend, amend or otherwise modify the terms of any Receivable or any Contract related thereto other than in accordance with the Credit and Collection Policy.

  • Credit Cards About 60% of first-year students reported they have at least one credit card, although just 15% have two or more cards. Among those students who have credit cards, about 88% reported they pay off their balance each month and, as such, their current credit card balance is zero; however, when asked what their current credit card balance is, just 7% said it is zero. Among those with an unpaid balance, the average credit card debt students have is $1,549. Group 1 students tend to carry a higher balance on their credit cards than Group 2 and Group 3 students. Table 47: Credit cards All students (n=14,886) Group Xxxxx University (n=542) 1 (n=3,136) 2 (n=6,176) 3 (n=5,574) Number of credit cards None 40% 42% 45% 32% 46% One 45% 42% 42% 50% 41% Two 7% 6% 6% 8% 8% Three or more 8% 10% 7% 9% 6% Average number 1.8 2.8 1.2 2.2 .8 Regularly pay off balance each month* Yes 88% 83% 88% 89% 91% Total credit card balance* Zero 7% 2% 14% 2% 5% $500 or less 83% 83% 79% 87% 88% $501 to $1,000 5% 7% 4% 6% 5% Over $1,000 5% 8% 4% 6% 2% Average (all with credit card) $487 $652 $352 $564 $176 Average (those with unpaid balance) $1,549 $1,954 $1,249 $1,648 $1,174 * Total credit card balance and payment of the balance were asked of those who had at least one credit card.

  • Loan Account and Accounting Agent shall maintain a loan account (the "Loan Account") on its books to record: all Advances, all payments made by Borrower, and all other debits and credits as provided in this Agreement with respect to the Loans or any other Obligations. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. The balance in the Loan Account, as recorded on Agent's most recent printout or other written statement, shall, absent manifest error, be presumptive evidence of the amounts due and owing to Agent and Lenders by Borrower; provided, that any failure to so record or any error in so recording shall not limit or otherwise affect Borrower's duty to pay the Obligations. Agent shall render to Borrower a monthly accounting of transactions with respect to the Loans setting forth the balance of the Loan Account for the immediately preceding month. Unless Borrower notifies Agent in writing of any objection to any such accounting (specifically describing the basis for such objection), within 30 days after the date thereof, each and every such accounting shall (absent manifest error) be deemed final, binding and conclusive on Borrower in all respects as to all matters reflected therein. Only those items expressly objected to in such notice shall be deemed to be disputed by Borrower. Notwithstanding any provision herein contained to the contrary, any Lender may elect (which election may be revoked) to dispense with the issuance of Notes to that Lender and may rely on the Loan Account as evidence of the amount of Obligations from time to time owing to it.

  • Notes and Accounts Receivable All notes and accounts receivable of the Company are reflected properly on their books and records, are valid receivables subject to no setoffs or counterclaims, are current and collectible, and will be collected in accordance with their terms at their recorded amounts, subject only to the reserve for bad debts set forth on the face of the balance sheet included in the Interim Financial Statements (rather than in any notes thereto) as adjusted for the passage of time through the Closing Date in accordance with the past custom and practice of the Company.

  • Credit and Collection Policy The Servicer has complied in all material respects with the Credit and Collection Policy with regard to each Pool Receivable and the related Contracts.

  • Deposit Account Control Agreements the Deposit Account control agreements to be executed by each institution maintaining a Deposit Account for an Obligor, in favor of Agent, for the benefit of Secured Parties, as security for the Obligations.

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