Account Agreements and Guidelines. Subject to compliance with all Requirements of Law and paragraph (a) above, Centurion Bank, FSB or other Account Owner, as the case may be, may change the terms and provisions of the applicable Account Agreements or the applicable Credit Guidelines in any respect (including the calculation of the amount or the timing of charge-offs and the Periodic Rate Finance Charges to be assessed thereon). Notwithstanding the above, unless required by Requirements of Law or as permitted by paragraph (a) above, Centurion Bank, FSB or other Account Owner, as the case may be, will not take any action with respect to the applicable Account Agreements or the applicable Credit Guidelines, which, at the time of such action, Centurion Bank, FSB or other Account Owner, as the case may be, reasonably believes will have a material adverse effect on the rights of the Trust or the Investor Certificateholders. Each Transferor further covenants that it will not enter into any amendment to any Receivables Purchase Agreement to which it is a party, or enter into a new Receivables Purchase Agreement unless the Rating Agency Condition shall have been satisfied.
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)
