Common use of ACKNOWLEDGEMENT; ACCEPTANCE OF APPOINTMENT AND OTHER MATTERS RELATING TO THE SERVICER Clause in Contracts

ACKNOWLEDGEMENT; ACCEPTANCE OF APPOINTMENT AND OTHER MATTERS RELATING TO THE SERVICER. (a) The parties hereby acknowledge that, following the assignment of the Receivables arising on Designated Accounts to the Receivables Trustee (as trustee for the Beneficiaries absolutely) (without notice to Obligors except following a Notification Event) pursuant to any Offer made and accepted in accordance with the Receivables Securitisation Agreement, the Servicer shall continue to have its contractual relationship with the Obligors on the terms set out in the Credit Card Agreements and accordingly shall continue to be a grantor of credit to Obligors in respect of both Existing Receivables and Future Receivables.