Back Book Assets definition

Back Book Assets mean, collectively, the Back Book Contracts Portfolio, the Supplemental Back Book Contracts Portfolio, the Delinquent Back Book Contracts Portfolio and the ABS Back Book Contracts Portfolio.

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Back Book Assets means the Gap ▇▇▇▇-branded credit card accounts (co-branded and private label) maintained by Synchrony Bank and in effect as of the Back Book Conversion Date, together with associated receivables, account documentation, transaction histories, BIN Identifiers, and any additional data or assets sold by Synchrony Bank to Barclays pursuant to the purchase and sale agreement between Synchrony Bank and Barclays, except the following credit card accounts shall be excluded: [***].

Back Book Assets means the Credit Card accounts issued by the Previous Issuer pursuant to the program agreement between Company, DIC and the Previous Issuer, together with associated receivables (other than accounts and receivables that have been previously written off, or should have been written off, by the Previous Issuer in accordance with Applicable Law or the terms of the program agreement between Company, DIC and the Previous Issuer or that are customarily excluded in credit card portfolio acquisitions), documentation, and data in each case purchased by Bank pursuant to the Back Book Purchase Agreement, and any other assets purchased by Bank pursuant to the Back Book Purchase Agreement.

Examples of Back Book Assets in a sentence

• Upon the terms and subject to the conditions set forth in this Agreement, and in reliance on the covenants, representations, warranties and agreements set forth herein, the Seller agrees to sell to the Purchaser the Back Book Assets on the Purchase Date.

• Not later than ten (10) Business Days prior to the Purchase Date, or on such other date as mutually agreed by the Parties, the Seller shall deliver a Notice of Sale to the Purchaser, which shall be accompanied by (x) the September 2025 Stratification Tables, (y) September 2025 Data Tape and (z) the Purchase Price for the Back Book Assets to be paid on the Purchase Date.

• Upon the terms and subject to the conditions set forth in this Agreement, and in reliance on the covenants, representations, warranties and agreements herein set forth, the Purchaser agrees to purchase the Back Book Assets on the Purchase Date.

• The purchase and sale of the Back Book Assets will occur on the Purchase Date, subject to the satisfaction of the conditions precedent set forth in this Agreement.

• The Parties shall cooperate in good faith to finalize the details of the purchase of the Canadian Back Book Assets within fifteen (15) Business Days of the Signing Date.

• It is the intention of the Seller that the sale, transfer, assignment and other conveyance of the Back Book Assets contemplated by this Agreement and the related Assignment constitutes an independent sale of the Purchased Property from the Seller to the Purchaser and that the beneficial interest in and title to the Back Book Assets shall not be part of the Seller’s estate in the event of the filing of a bankruptcy petition by or against the Seller under any bankruptcy law.

• The Purchaser shall have provided evidence to the Seller of the establishment of the Purchaser Vault Partition, the Purchaser Vault Partition shall be in full force and effect, and the Seller shall have caused the “authoritative copy” of each Contract within the Back Book Assets to be communicated to and maintained in the Purchaser Vault Partition.

• Seller and Purchaser agree that the purchase price of the Canadian Back Book Assets will be [***]% of par, as same may be adjusted to account for any tax impact of the Canadian Back Book Assets, and will be sold and purchased on terms substantially similar to those outlined herein with respect to the Back Book Assets.

• On the Purchase Date, the Purchaser has delivered to the Seller the Purchase Price for the Back Book Assets.

• The Notice of Sale shall specify (i) the Purchase Price for the Back Book Assets and (ii) the Purchase Date.

More Definitions of Back Book Assets

Back Book Assets means the Gap Mark-branded credit card accounts (co-branded and private label) maintained by Synchrony Bank and in effect as of the Back Book Conversion Date, together with associated receivables, account documentation, transaction histories, BIN Identifiers, and any additional data or assets sold by Synchrony Bank to Barclays pursuant to the purchase and sale agreement between Synchrony Bank and Barclays, except the following credit card accounts shall be excluded: [***].