Common use of Applications for Credit Under the Plan; Billing Statements Clause in Contracts

Applications for Credit Under the Plan; Billing Statements. (a) Applicants who wish to apply for an Account under the Plan must submit a completed application on a form or in an electronic format approved by Bank, and Bank shall grant or deny the request for credit based solely upon Bank's credit criteria. Spiegel Group or Spiegel Group's Stores shall provide a copy of the Credit Card Agreement to the Applicant to be retained for the Applicant's records. The application shall be submitted to Bank by the Applicant or submitted by Spiegel Group or Spiegel Group's Stores on behalf of the Applicant, as required in the Operating Procedures. If Bank grants the request for an ANY TEXT REMOVED PURSUANT TO THE COMPANY'S CONFIDENTIAL TREATMENT REQUEST HAS BEEN SEPARATELY SUBMITTED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION AND IS MARKED [***] HEREIN. Account, Bank will issue a Credit Card to the Applicant which accesses an individual line of credit in an amount determined by Bank. (b) Bank shall make available to Spiegel Group and Spiegel Group shall utilize a Quick Credit application procedure, as well as Batch Prescreen and catalog On-Line Prescreen application procedures. Bank will bear the credit bureau expense for Quick Credit, Internet applications, Instant Credit Applications and take-one applications. Concerning catalog On-Line Prescreen, Bank will bear 100% of the On-Line Prescreen credit bureau expense during Plan Year 1 and thereafter Bank shall bear such expense provided the Xxxxx Xxxxx Business' annual aggregate telephone acceptance rate is at least equal to the "Target Acceptance Rate". The Target Acceptance Rate shall be [***]% for Plan Year 2; [***] % for Plan Year 3 and [***]% for Plan Year 4; [***]% for Plan Year 5 and thereafter. If the aggregate acceptance rate of the Xxxxx Xxxxx Business is less than the Target Acceptance Rate for any given Plan Year, Spiegel Group will compensate Bank for the shortfall in performance according to this formula: [***] This formula applies regardless of the approval rate. Bank may offset such amount against the Net Proceeds owed to Spiegel Group. If the aggregate acceptance rate of the Xxxxx Xxxxx Business is less than [***]% at the end of Plan Year 2, then Bank shall have the right to terminate catalog On-Line Prescreen and in such event Bank will consider making additional contributions to the Marketing Fund. (c) Spiegel Group agrees that it and Spiegel Group's Stores will keep confidential the information on such applications and shall not disclose the information to anyone other than authorized representatives of Bank. (d) All Cardholders will receive from Bank a periodic statement (the "Billing Statement") listing the amounts of Purchases made and credits received and other information, as required by Applicable Law or deemed desirable by Bank. (e) Bank shall make available to Spiegel Group Internet application procedures and Charge Slip processing. In such event, Spiegel Group shall be responsible for integrating and maintaining on its website at its sole expense a link to the Bank's Internet application processing website. Spiegel Group represents and warrants that, to integrate and maintain the link, and to ensure access to the Internet application processing website and reduce technical errors, its software providing the link will (to the extent within Spiegel Group's reasonable control) function, and continue to function, in a sound technical manner. Spiegel Group shall appropriately monitor the link to ensure it is functioning properly. In the event Bank changes or otherwise modifies the website address for Internet application processing, Spiegel Group will either update or modify the link as directed by Bank. In providing the link, Spiegel Group shall make it clear and conspicuous that the Customer is leaving Spiegel Group's website and is being directed to Bank's website for the exclusive purpose of accessing Bank's Internet application ANY TEXT REMOVED PURSUANT TO THE COMPANY'S CONFIDENTIAL TREATMENT REQUEST HAS BEEN SEPARATELY SUBMITTED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION AND IS MARKED [***] HEREIN. processing website. Spiegel Group agrees that, in connection with the link, it will only use Bank's name, or any logo, statements, or any other information that is related to Bank, only as directed by Bank, or as approved in advance and in writing by Bank. Without limiting the generality of the scope of required approvals, but by way of example, Spiegel Group shall seek Bank's approval not only with respect to content, but also with respect to any typestyle, color, or abbreviations used in connection with the link. Spiegel Group agrees that, in the event the Internet Account approval rate is at least [***] % less than the approval rate for Accounts originated through other sources, then Bank may impose a fee for Internet applications, provided that Bank shall notify Spiegel Group in advance from time to time of the amount of such fee, in writing, and Spiegel Group may elect not to utilize Internet application and/or Charge Slip processing. Spiegel Group will promote to its Customers the Bank's Electronic Xxxx Presentment and Payment.

Applications for Credit Under the Plan; Billing Statements. (a) Applicants who wish to apply for an Account under the Plan must submit a completed application on a form or in an electronic format approved by Bank, and Bank shall grant or deny the request for credit based solely upon Bank's credit criteria. Spiegel Group or Spiegel Group's Stores shall provide a copy of the Credit Card Agreement to the Applicant to be retained for the Applicant's records. The application shall be submitted to Bank by the Applicant or submitted by Spiegel Group or Spiegel Group's Stores on behalf of the Applicant, as required in the Operating Procedures. If Bank grants the request for an ANY TEXT REMOVED PURSUANT TO THE COMPANY'S CONFIDENTIAL TREATMENT REQUEST HAS BEEN SEPARATELY SUBMITTED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION AND IS MARKED [***] HEREIN. Account, Bank will issue a Credit Card to the Applicant which accesses an individual line of credit in an amount determined by Bank. (b) Bank shall make available to Spiegel Group and Spiegel Group shall utilize a Quick Credit application procedure, as well as Batch Prescreen and catalog On-Line Prescreen application procedures. Bank will bear the credit bureau expense for Quick Credit, Internet applications, Instant Credit Applications and take-one applications. Concerning catalog On-Line Prescreen, Bank will bear 100% of the On-Line Prescreen credit bureau expense during Plan Year 1 and thereafter Bank shall bear such expense provided the Xxxxx Xxxxx Business' annual aggregate telephone acceptance rate is at least equal to the "Target Acceptance Rate". The Target Acceptance Rate shall be [***]% (Redacted)% for Plan Year 2; [***] (Redacted) % for Plan Year 3 and [***]% (Redacted)% for Plan Year 4; [***](Redacted) % for Plan Year 5 and thereafter. If the aggregate acceptance rate of the Xxxxx Xxxxx Business is less than the Target Acceptance Rate for any given Plan Year, Spiegel Group will compensate Bank for the shortfall in performance according to this formula: [***] (Redacted) This formula applies regardless of the approval rate. Bank may offset such amount against the Net Proceeds owed to Spiegel Group. If the aggregate acceptance rate of the Xxxxx Xxxxx Business is less than [***]% (Redacted)% at the end of Plan Year 2, then Bank shall have the right to terminate catalog On-Line Prescreen and in such event Bank will consider making additional contributions to the Marketing Fund. (c) Spiegel Group agrees that it and Spiegel Group's Stores will keep confidential the information on such applications and shall not disclose the information to anyone other than authorized representatives of Bank. (d) All Cardholders will receive from Bank a periodic statement (the "Billing Statement") listing the amounts of Purchases made and credits received and other information, as required by Applicable Law or deemed desirable by Bank. (e) Bank shall make available to Spiegel Group Internet application procedures and Charge Slip processing. In such event, Spiegel Group shall be responsible for integrating and maintaining on its website at its sole expense a link to the Bank's Internet application processing website. Spiegel Group represents and warrants that, to integrate and maintain the link, and to ensure access to the Internet application processing website and reduce technical errors, its software providing the link will (to the extent within Spiegel Group's reasonable control) function, and continue to function, in a sound technical manner. Spiegel Group shall appropriately monitor the link to ensure it is functioning properly. In the event Bank changes or otherwise modifies the website address for Internet application processing, Spiegel Group will either update or modify the link as directed by Bank. In providing the link, Spiegel Group shall make it clear and conspicuous that the Customer is leaving Spiegel Group's website and is being directed to Bank's website for the exclusive purpose of accessing Bank's Internet application ANY TEXT REMOVED PURSUANT TO THE COMPANY'S CONFIDENTIAL TREATMENT REQUEST HAS BEEN SEPARATELY SUBMITTED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION AND IS MARKED [***] HEREIN. processing website. Spiegel Group agrees that, in connection with the link, it will only use Bank's name, or any logo, statements, or any other information that is related to Bank, only as directed by Bank, or as approved in advance and in writing by Bank. Without limiting the generality of the scope of required approvals, but by way of example, Spiegel Group shall seek Bank's approval not only with respect to content, but also with respect to any typestyle, color, or abbreviations used in connection with the link. Spiegel Group agrees that, in the event the Internet Account approval rate is at least [***] % less than the approval rate for Accounts originated through other sources, then Bank may impose a fee for Internet applications, provided that Bank shall notify Spiegel Group in advance from time to time of the amount of such fee, in writing, and Spiegel Group may elect not to utilize Internet application and/or Charge Slip processing. Spiegel Group will promote to its Customers the Bank's Electronic Xxxx Presentment and Payment.directed

Applications for Credit Under the Plan; Billing Statements. (a) Applicants who wish to apply for an Account under the Plan must submit a completed application on a form or in an electronic format approved by Bank, and Bank shall grant or deny the request for credit based solely upon Bank's credit criteria. Spiegel Group or Spiegel Group's Stores shall provide a copy of the Credit Card Agreement to the Applicant to be retained for the Applicant's records. The application shall be submitted to Bank by the Applicant or submitted by Spiegel Group or Spiegel Group's Stores on behalf of the Applicant, as required in the Operating Procedures. If Bank grants the request for an ANY TEXT REMOVED PURSUANT TO THE COMPANY'S CONFIDENTIAL TREATMENT REQUEST HAS BEEN SEPARATELY SUBMITTED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION AND IS MARKED [***] HEREIN. Account, Bank will issue a Credit Card to the Applicant which accesses an individual line of credit in an amount determined by Bank. (b) Bank shall make available to Spiegel Group and Spiegel Group shall utilize a Quick Credit application procedure, as well as Batch Prescreen and catalog On-Line Prescreen application procedures. Bank will bear the credit bureau expense for Quick Credit, Internet applications, Instant Credit Applications and take-one applications. Concerning catalog On-Line Prescreen, Bank will bear 100% of the On-Line Prescreen credit bureau expense during Plan Year 1 and thereafter Bank shall bear such expense provided the Xxxxx Xxxxx Business' annual aggregate telephone acceptance rate is at least equal to the "Target Acceptance Rate". The Target Acceptance Rate shall be [***]% for Plan Year 2; [***] ]% for Plan Year 3 and [***]% for Plan Year 4; [***]% for Plan Year 5 and thereafter. If the aggregate acceptance rate of the Xxxxx Xxxxx Business is less than the Target Acceptance Rate for any given Plan Year, Spiegel Group will compensate Bank for the shortfall in performance according to this formula: [***] This formula applies regardless of the approval rate. Bank may offset such amount against the Net Proceeds owed to Spiegel Group. If the aggregate acceptance rate of the Xxxxx Xxxxx Business is less than [***]% at the end of Plan Year 2, then Bank shall have the right to terminate catalog On-Line Prescreen and in such event Bank will consider making additional contributions to the Marketing Fund. (c) Spiegel Group agrees that it and Spiegel Group's Stores will keep confidential the information on such applications and shall not disclose the information to anyone other than authorized representatives of Bank. (d) All Cardholders will receive from Bank a periodic statement (the "Billing Statement") listing the amounts of Purchases made and credits received and other information, as required by Applicable Law or deemed desirable by Bank. (e) Bank shall make available to Spiegel Group Internet application procedures and Charge Slip processing. In such event, Spiegel Group shall be responsible for integrating and maintaining on its website at its sole expense a link to the Bank's Internet application processing website. Spiegel Group represents and warrants that, to integrate and maintain the link, and to ensure access to the Internet application processing website and reduce technical errors, its software providing the link will (to the extent within Spiegel Group's reasonable control) function, and continue to function, in a sound technical manner. Spiegel Group shall appropriately monitor the link to ensure it is functioning properly. In the event Bank changes or otherwise modifies the website address for Internet application processing, Spiegel Group will either update or modify the link as directed by Bank. In providing the link, Spiegel Group shall make it clear and conspicuous that the Customer is leaving Spiegel Group's website and is being directed to Bank's website for the exclusive purpose of accessing Bank's Internet application ANY TEXT REMOVED PURSUANT TO THE COMPANY'S CONFIDENTIAL TREATMENT REQUEST HAS BEEN SEPARATELY SUBMITTED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION AND IS MARKED [***] HEREIN. to Bank's website for the exclusive purpose of accessing Bank's Internet application processing website. Spiegel Group agrees that, in connection with the link, it will only use Bank's name, or any logo, statements, or any other information that is related to Bank, only as directed by Bank, or as approved in advance and in writing by Bank. Without limiting the generality of the scope of required approvals, but by way of example, Spiegel Group shall seek Bank's approval not only with respect to content, but also with respect to any typestyle, color, or abbreviations used in connection with the link. Spiegel Group agrees that, in the event the Internet Account approval rate is at least [***] % less than the approval rate for Accounts originated through other sources, then Bank may impose a fee for Internet applications, provided that Bank shall notify Spiegel Group in advance from time to time of the amount of such fee, in writing, and Spiegel Group may elect not to utilize Internet application and/or Charge Slip processing. Spiegel Group will promote to its Customers the Bank's Electronic Xxxx Presentment and Payment.