Common use of Additional Accounts Clause in Contracts

Additional Accounts. Citibank and the Additional Sellers shall at all times ensure that they retain the ownership of the Receivables arising in, and the right to transfer to the Trust the Receivables arising in, Eligible Accounts which include Principal Receivables sufficient to enable Citibank and the Additional Sellers to meet the Sellers’ obligation to designate Additional Accounts in accordance with Section 2.09(a). In furtherance of the foregoing, Citibank agrees not to transfer, assign, exchange or otherwise pledge or convey any “VISA,” “MasterCard” or “American Express” revolving credit card account or the Receivables therein (other than any transfer, assignment, exchange, pledge or conveyance of Receivables to the Trust pursuant to this Agreement) if as a result of such pledge or conveyance, the principal receivables owned by the Sellers in such “VISA,” “MasterCard” or “American Express” revolving credit card accounts at such time would be reduced to less than $50,000,000.