WFNNB definition
Examples of WFNNB in a sentence
The Borrower shall not permit the average of the Delinquency Ratios for WFNNB for the most recently ended three consecutive calendar months to exceed 4.5%.
The assessment of the various securitization trusts utilized by WFNNB and World Financial Capital Bank (“WFCB”) under ASC 860 and ASC 810 resulted in the consolidation of those securitization trusts on the balance sheet of WFNNB, WFCB or their affiliates, including the Borrower, beginning January 1, 2010.
AMO shall use commercially reasonable good faith efforts to comply with the Conversion Plan (as such Conversion Plan may modified by the parties in accordance with Section 2.1(a)) and AMO shall not agree to any amendment or modification of the WFNNB Program Agreement which would reduce World Financial Network National Bank’s obligations with respect to the Conversion or extend or delay the Conversion Date (as such term is defined in the WFNNB Program Agreement) beyond January 31, 2009.
All references to the term “Credit Card Acknowledgements “ in the Loan Agreement and the other Financing Agreements are hereby amended to include, without limitation, the WFNNB Credit Card Acknowledgment.
Bank has entered into the WFNNB Account Portfolio Purchase/Sale Agreement with World Financial Network National Bank and the same is in full force and effect on the date hereof and constitutes the legal and binding obligation of Bank and, to the knowledge of Bank, World Financial Network National Bank.
The anticipated Conversion Date under the WFNNB Program Agreement is on or before October 31, 2008.
AMO and Bank hereby agree that the terms of the WFNNB Account Portfolio Purchase/Sale Agreement are mutually acceptable.
It is understood and agreed that SOAI and WFNNB will enter into an assignment and assumption agreement, substantially in the form of Exhibit M hereto, under which SOAI will assign to WFNNB, all of SOAI’s rights and obligations as Servicer (which rights and obligations constitute substantially all of SOAI’s property and assets), and WFNNB will acquire and assume such rights and obligations.
AMO shall request that World Financial Network National Bank comply with its obligations under the WFNNB Program Agreement with respect to the Conversion.
For purposes of this section, “cause” shall mean if either party fails to discharge any of its material obligations hereunder, or commits a material breach of this Agreement, and such default or breach continues for a period of ten (10) days after the other party has notified the former party of such default or breach (“Breach and/or Default”), this Agreement may then be terminated at the option of the non-breaching party by notice thereof to the breaching party.