Common use of Assignment of Title in Charged Back Purchases Clause in Contracts

Assignment of Title in Charged Back Purchases. With respect to any amount of a Purchase to be charged back to and to be purchased by Spiegel Group, Spiegel Group shall either pay such amount directly to Bank in immediately available funds or Bank will offset such amount as part of the Net Proceeds to be paid to Spiegel Group, to the extent the balance thereof is sufficient. Upon payment of such amount by Spiegel Group to Bank, or off-setting, as the case may be, Bank shall assign and transfer to Spiegel Group, without recourse, all of Bank's right, title and interest in and to such Purchase and deliver all documentation (or copies) in Bank's possession with respect thereto. Spiegel Group further consents to all extensions or compromises given any Cardholder with respect to any such Purchase, and agrees that such shall not affect any liability of Spiegel Group hereunder or right of Bank to charge back any Purchase as provided in this Agreement; provided, however, that Bank shall not have the right to 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. charge back for any Purchase the amount of any reductions, or compromises of amounts owed by a Cardholder to Bank. Spiegel Group shall not resubmit or re-transmit any charged back Purchases to Bank, without Bank's prior written consent.

Assignment of Title in Charged Back Purchases. With respect to any amount of a Purchase to be charged back to and to be purchased by Spiegel Group, Spiegel Group shall either pay such amount directly to Bank in immediately available funds or Bank will offset such amount as part of the Net Proceeds to be paid to Spiegel Group, to the extent the balance thereof is sufficient. Upon payment of such amount by Spiegel Group to Bank, or off-setting, as the case may be, Bank shall assign and transfer to Spiegel Group, without recourse, all of Bank's right, title and interest in and to such Purchase and deliver all documentation (or copies) in Bank's possession with respect thereto. Spiegel Group further consents to all extensions or compromises given any Cardholder with respect to any such Purchase, and agrees that such shall not affect 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. any liability of Spiegel Group hereunder or right of Bank to charge back any Purchase as provided in this Agreement; provided, however, that Bank shall not have the right to 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. charge back for any Purchase the amount of any reductions, or compromises of amounts owed by a Cardholder to Bank. Spiegel Group shall not resubmit or re-transmit any charged back Purchases to Bank, without Bank's prior written consent.

Assignment of Title in Charged Back Purchases. With respect to any amount of a Purchase to be charged back to and to be purchased by Spiegel Group, Spiegel Group shall either pay such amount directly to Bank in immediately available funds or Bank will offset such amount as part of the Net Proceeds to be paid to Spiegel Group, to the extent the balance thereof is sufficient. Upon payment of such amount by Spiegel Group to Bank, or off-setting, as the case may be, Bank shall assign and transfer to Spiegel Group, without recourse, all of Bank's right, title and interest in and to such Purchase and deliver all documentation (or copies) in Bank's possession with respect thereto. Spiegel Group further consents to all extensions or compromises given any Cardholder with respect to any such Purchase, and agrees that such shall not affect any liability of Spiegel Group hereunder or right of Bank to charge back any Purchase as provided in this Agreement; provided, however, that Bank shall not have the right to 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. charge back for any Purchase the amount of any reductions, or compromises of amounts owed by a Cardholder to Bank. Spiegel Group shall not resubmit or re-transmit any charged back Purchases to Bank, without Bank's prior written consent.