Common use of Conditions Precedent on each Increase Date Clause in Contracts

Conditions Precedent on each Increase Date. On any Increase Date, each Investor shall purchase and pay for any Note Principal Balance Increases, provided that each of the following conditions have been satisfied or waived. (a) Not less than three (3) Business Days prior to the proposed Increase Date, the Investors shall have received a duly completed Increase Notice. (b) On the Increase Date the following statements shall be true and the Transferor, the Issuer and the Servicer shall be deemed to have certified (with respect to the Servicer and clauses (x) through (xv) below, to the best of the Servicer’s knowledge), each as to itself only and not as to any other, that: (i) Its representations and warranties contained in Section 4.1 (other than subsections 4.1(m) and 4.1(n)) are true and correct on and as of such day as though made on and as of such date; (ii) No event has occurred and is continuing, or would result from such Transaction which constitutes an Early Redemption Event or Potential Early Redemption Event; (iii) On and as of such day, after giving effect to such purchase of the Note Principal Balance Increase, the Class A Note Principal Balance, Class B Note Principal Balance and Class C Note Principal Balance will not exceed the Class A Maximum Principal Amount, Class B Maximum Principal Amount and Class C Maximum Principal Amount, respectively; (iv) On and as of such day, it has performed all of the agreements contained in this Agreement, the Affinity Card Agreement and each other Transaction Document to which it is a party to be performed by such person at or prior to such day and to the extent each is a party thereto; (v) No law or regulation shall prohibit, and no order, judgment or decree of any federal, state or local court or governmental body, agency or instrumentality shall prohibit or enjoin, the paying of such Note Principal Balance Increase by the Investors in accordance with the provisions hereof; (vi) No Class A Monthly Interest, Class B Monthly Interest, Class C-1 Monthly Interest, Class C-2 Monthly Interest, Class A Additional Interest, Class B Additional Interest, Class C-1 Additional Interest, Class C-2 Additional Interest other fees and costs due and payable to the Investors pursuant to this Agreement and the other Transaction Documents or any unreimbursed Reduction Amounts shall be outstanding as of such Increase Date; (vii) On and as of such day, after giving effect to any purchase of the Note Principal Balance Increase, the Spread Account Amount shall be greater than the Required Spread Account Amount; (viii) On and as of such day, after giving effect to each Note Principal Balance Increase, (A) the sum of the Class B Note Principal Balance, the Class C Note Principal Balance and the Class D Note Principal Balance shall equal the Required Aggregate Class Amount; and (B) the Series Allocation Percentage of the total Receivables in the Issuer shall be equal to or greater than the Note Principal Balance; (ix) The Servicer shall be in compliance with the reporting obligation set forth in clause 4.3(a)(iii); (x) The Net Yield for the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to be delivered shall have been at least 4.00%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Net Yield for such Monthly Period shall be 4.20% or less, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Net Yield for such Monthly Period is not less than 4.00%; (xi) The Monthly Payment Rate for the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to be delivered shall have not been less than 4.50%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Monthly Payment Rate for such Monthly Period shall be 4.725% or less, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Monthly Payment Rate for such Monthly Period is not less than 4.50%; (xii) The weighted average FICO score of all Eligible Accounts for the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to be delivered shall be not less than 580; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the weighted average FICO score of all Eligible Accounts for such Monthly Period shall be less than 590, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the weighted average FICO score for such Monthly Period is not less than 580; (xiii) The Monthly Delinquency Rate for the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to be delivered shall not exceed 14.50%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Monthly Delinquency Rate for such Monthly Period shall be more than 13.775%, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Monthly Delinquency Rate for such Monthly Period is not more than 14.50%; (xiv) The Monthly Default Rate for the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to be delivered shall not exceed 20.75%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Monthly Default Rate for such Monthly Period shall be more than 19.713%, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Monthly Default Rate for such Monthly Period is not more than 20.75%; and (xv) The Adjusted Net Yield for the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to be delivered shall have been at least 3.00%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Adjusted Net Yield for such Monthly Period shall be less than 3.15%, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Adjusted Net Yield for such Monthly Period is not less than 3.00%;

Conditions Precedent on each Increase Date. On any Increase Date, each Investor shall purchase and pay for any Note Principal Balance Increases, provided that each of the following conditions have been satisfied or waived. (a) Not less than three (3) Business Days prior to the proposed Increase Date, the Investors shall have received a duly completed Increase Notice. (b) On the Increase Date the following statements shall be true and the Transferor, the Issuer and the Servicer shall be deemed to have certified (with respect to the Servicer and clauses (x) through (xv) below, to the best of the Servicer’s 's knowledge), each as to itself only and not as to any other, that: (i) Its representations and warranties contained in Section 4.1 (other than subsections 4.1(m) and 4.1(n)) are true and correct on and as of such day as though made on and as of such date; (ii) No event has occurred and is continuing, or would result from such Transaction which constitutes an Early Redemption Event or Potential Early Redemption Event; (iii) On and as of such day, after giving effect to such purchase of the Note Principal Balance Increase, the Class A Note Principal Balance, Class B Note Principal Balance and Class C Note Principal Balance will not exceed the Class A Maximum Principal Amount, Class B Maximum Principal Amount and Class C Maximum Principal Amount, respectively; (iv) On and as of such day, it has performed all of the agreements contained in this Agreement, the Affinity Card Agreement and each other Transaction Document to which it is a party to be performed by such person at or prior to such day and to the extent each is a party thereto; (v) No law or regulation shall prohibit, and no order, judgment or decree of any federal, state or local court or governmental body, agency or instrumentality shall prohibit or enjoin, the paying of such Note Principal Balance Increase by the Investors in accordance with the provisions hereof; (vi) No Class A Monthly Interest, Class B Monthly Interest, Class C-1 Monthly Interest, Class C-2 C Monthly Interest, Class A Additional Interest, Class B Additional Interest, Class C-1 C Additional Interest, Class C-2 Additional Interest other fees and costs due and payable to the Investors pursuant to this Agreement and the other Transaction Documents or any unreimbursed Reduction Amounts shall be outstanding as of such Increase Date; (vii) On and as of such day, after giving effect to any purchase of the Note Principal Balance Increase, the Spread Account Amount shall be greater than the Required Spread Account Amount; (viii) On and as of such day, after giving effect to each Note Principal Balance Increase, (A) the sum of Class A Note Principal Balance shall equal the Required Class A Note Principal Balance, (B) the Class B Note Principal Balance shall equal the Required Class B Note Principal Balance, (C) the Class C Note Principal Balance and shall equal the Required Class C Note Principal Balance, (D) the Class D Note Principal Balance shall equal the Required Aggregate Class AmountD Note Principal Balance; and (BE) the Series Allocation Percentage of the total Receivables in the Issuer shall be equal to or greater than the Note Principal Balance; (ix) The Servicer shall be in compliance with the reporting obligation set forth in clause 4.3(a)(iii); (x) The Net Yield for the next preceding Monthly Period for which a Monthly Servicer’s 's Statement is required to be delivered shall have been at least 4.00%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Net Yield for such Monthly Period shall be 4.20% or less, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s 's Statement for the immediately prior Monthly Period conclusively showing that the Net Yield for such Monthly Period is not less than 4.00%; (xi) The Monthly Payment Rate for the next preceding Monthly Period for which a Monthly Servicer’s 's Statement is required to be delivered shall have not been less than 4.50%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Monthly Payment Rate for such Monthly Period shall be 4.725% or less, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s 's Statement for the immediately prior Monthly Period conclusively showing that the Monthly Payment Rate for such Monthly Period is not less than 4.50%; (xii) The weighted average FICO score of all Eligible Accounts for the next preceding Monthly Period for which a Monthly Servicer’s 's Statement is required to be delivered shall be not less than 580; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the weighted average FICO score of all Eligible Accounts for such Monthly Period shall be less than 590, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s 's Statement for the immediately prior Monthly Period conclusively showing that the weighted average FICO score for such Monthly Period is not less than 580; (xiii) The Monthly Delinquency Rate for the next preceding Monthly Period for which a Monthly Servicer’s 's Statement is required to be delivered shall not exceed 14.50%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Monthly Delinquency Rate for such Monthly Period shall be more than 13.775%, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s 's Statement for the immediately prior Monthly Period conclusively showing that the Monthly Delinquency Rate for such Monthly Period is not more than 14.50%; (xiv) The Monthly Default Rate for the next preceding Monthly Period for which a Monthly Servicer’s 's Statement is required to be delivered shall not exceed 20.75%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Monthly Default Rate for such Monthly Period shall be more than 19.713%, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s 's Statement for the immediately prior Monthly Period conclusively showing that the Monthly Default Rate for such Monthly Period is not more than 20.75%; and (xv) The Adjusted Net Yield for the next preceding Monthly Period for which a Monthly Servicer’s 's Statement is required to be delivered shall have been at least 3.00%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Adjusted Net Yield for such Monthly Period shall be less than 3.15%, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s 's Statement for the immediately prior Monthly Period conclusively showing that the Adjusted Net Yield for such Monthly Period is not less than 3.00%;; ARTICLE IV

Conditions Precedent on each Increase Date. On any Increase Date, each Investor shall purchase and pay for the initial Note Principal Balance Increase and the Class A Trust Certificate, in the case of the Initial Funding Date, or any Note Principal Balance Increases, in the case of any Increase Date, provided that each of the following conditions have been satisfied or waived. (a) Not less than three ten (310) Business Days prior to the proposed Increase Date, the Investors Agent shall have received a duly completed Increase Notice. (b) On the Increase Date Date, the following statements shall be true and the Transferor, the Issuer and the Servicer shall be deemed to have certified (with respect to the Servicer and clauses (x) through (xv) below, to the best of the Servicer’s knowledge)certified, each as to itself only and not as to any other, that: (i) Its representations and warranties contained in Section 4.1 (and each other than subsections 4.1(m) and 4.1(n)) Transaction Document are true and correct on and as of such day as though made on and as of such date; (ii) No With respect to the Issuer, no event has occurred and is continuing, or would result from such Transaction which constitutes an Early Redemption Event or Potential Early Redemption Event; (iii) On and as of such day, after giving effect to such purchase of the Note Principal Balance Increase, the Class A A-1 Note Principal Balance, Class B A-2 Note Principal Balance, Class A-3 Note Principal Balance, Class A-4 Note Principal Balance and Class C A-5 Note Principal Balance will not exceed the Class A A-1 Maximum Principal Amount, Class B A-2 Maximum Principal Amount, Class A-3 Maximum Principal Amount, Class A-4 Maximum Principal Amount and Class C A-5 Maximum Principal Amount, respectively; (iv) On and as of such day, it has performed all of the agreements contained in this Agreement, the Affinity Card Agreement and each other Transaction Document to which it is a party to be performed by such person at or prior to such day and to the extent each is a party thereto; (v) No law or regulation Law shall prohibit, and no order, judgment or decree of any federal, state or local court or governmental body, agency or instrumentality shall prohibit or enjoin, the paying of such Note Principal Balance Increase by the Investors in accordance with the provisions hereof; (vi) No With respect to the Issuer, no Class A A-1 Monthly Interest, Class B A-2 Monthly Interest, Class C-1 A-3 Monthly Interest, Class C-2 A-4 Monthly Interest, Class A A-5 Monthly Interest, Class A-1 Additional Interest, Class B A-2 Additional Interest, Class C-1 A-3 Additional Interest, Class C-2 A-4 Additional Interest Interest, Class A-5 Additional Interest, other fees and costs due and payable to the Investors pursuant to this Agreement and the other Transaction Documents or any unreimbursed Reduction Amounts shall be outstanding as of such Increase Date; (vii) On and as of such day, after giving effect to any purchase of the Note Principal Balance Increase, the Spread Account Amount shall be greater than the Required Spread Account AmountThe Revolving Period is in effect; (viii) On and as of such dayNo suit, after giving effect action or other proceeding, investigation or injunction, or final judgment relating thereto, shall be pending or, to each Note Principal Balance Increaseits knowledge, (A) the sum threatened before any court or governmental agency, seeking to restrain or prohibit or to obtain damages or other relief in connection with any of the Class B Note Principal BalanceTransaction Documents, the Class C Note Principal Balance and Receivable Sales Agreement, the Class D Note Principal Balance shall equal Loan Servicing Agreement or the Required Aggregate Class Amount; and (B) the Series Allocation Percentage consummation of the total Receivables in the Issuer shall be equal to or greater than the Note Principal Balancetransactions contemplated thereby; (ix) The Servicer Credit Card Guidelines shall not have been amended or otherwise modified in a manner that could reasonably be in compliance with expected to have a Material Adverse Effect on the reporting obligation set forth in clause 4.3(a)(iii)Issuer or the Receivables; (x) The Net Yield for the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to be delivered shall have been at least 4.00%; provided, however, that if Both before and immediately following such Monthly Period is not the immediately prior Monthly Period and if the Net Yield for such Monthly Period shall be 4.20% or lesspurchase, the Investors shall have no obligation to purchase such Class B Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Net Yield for such Monthly Period is not be no less than 4.00%10% of the sum of (i) the Note Principal Balance and (ii) the outstanding principal balance of the Senior Facility; (xi) The Monthly Payment Rate for the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to be delivered shall have not been less than 4.50%; provided, however, that if Both before and immediately following such Monthly Period is not the immediately prior Monthly Period and if the Monthly Payment Rate for such Monthly Period shall be 4.725% or lesspurchase, the Investors aggregate unpaid principal balance of all Series of Notes issued under the Indenture or any Indenture Supplement shall have no obligation to purchase not exceed the Net Eligible Receivables Balance as of such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Monthly Payment Rate for such Monthly Period is not less than 4.50%;date; and (xii) The weighted average FICO score With respect to the Initial Funding Date, certificates of all Eligible Accounts for the next preceding Monthly Period for which chief financial officer (or, in the absence of a Monthly Servicer’s Statement is required to be delivered shall be not less than 580; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the weighted average FICO score of all Eligible Accounts for such Monthly Period shall be less than 590chief financial officer, the Investors shall have no obligation to purchase chief executive officer) of the Transferor, in his or her capacity as such Note Principal Balance Increase until the Servicer shall have provided and not in his or her individual capacity, in form and substance satisfactory to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing Agent in its sole discretion (each, a “Solvency Certificate”) certifying that the weighted average FICO score for such Monthly Period is not less than 580; (xiii) The Monthly Delinquency Rate for Transferor and the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to Issuer will be delivered shall not exceed 14.50%; provided, however, that if such Monthly Period is not Solvent following the immediately prior Monthly Period and if consummation on the Monthly Delinquency Rate for such Monthly Period shall be more than 13.775%Initial Funding Date of the transactions contemplated by this Agreement, the Investors shall have no obligation Indenture, the Indenture Supplement and the other Transaction Documents to purchase such Note Principal Balance Increase until which it is a party, including the Servicer shall have provided transfer by the Transferor to the Investors Issuer of the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Monthly Delinquency Rate for such Monthly Period is not more than 14.50%; (xiv) The Monthly Default Rate for the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to be delivered shall not exceed 20.75%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Monthly Default Rate for such Monthly Period shall be more than 19.713%, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Monthly Default Rate for such Monthly Period is not more than 20.75%; and (xv) The Adjusted Net Yield for the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to be delivered shall have been at least 3.00%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Adjusted Net Yield for such Monthly Period shall be less than 3.15%, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Adjusted Net Yield for such Monthly Period is not less than 3.00%;Transferred Assets.

Conditions Precedent on each Increase Date. On any Increase Date, each Investor shall purchase and pay for the initial Note Principal Balance Increase, in the case of the Initial Funding Date, or any Note Principal Balance Increases, in the case of any Increase Date, provided that each of the following conditions have been satisfied or waived. (a) Not less than three ten (310) Business Days prior to the proposed Increase Date, the Investors Agent shall have received a duly completed Increase Notice. (b) On the Increase Date Date, the following statements shall be true and the Transferor, the Issuer and the Servicer shall be deemed to have certified (with respect to the Servicer and clauses (x) through (xv) below, to the best of the Servicer’s knowledge)certified, each as to itself only and not as to any other, that: (i) Its representations and warranties contained in Section 4.1 (and each other than subsections 4.1(m) and 4.1(n)) Transaction Document are true and correct on and as of such day as though made on and as of such date; (ii) No With respect to the Issuer, no event has occurred and is continuing, or would result from such Transaction which constitutes an Early Redemption Event or Potential Early Redemption Event; (iii) On and as of such day, after giving effect to such purchase of the Note Principal Balance Increase, the Class A A-3 Note Principal Balance, Class B A-4 Note Principal Balance and Class C A-5 Note Principal Balance will not exceed the Class A A-3 Maximum Principal Amount, Class B A-4 Maximum Principal Amount and Class C A-5 Maximum Principal Amount, respectively; (iv) On and as of such day, it has performed all of the agreements contained in this Agreement, the Affinity Card Agreement and each other Transaction Document to which it is a party to be performed by such person at or prior to such day and to the extent each is a party thereto; (v) No law or regulation Law shall prohibit, and no order, judgment or decree of any federal, state or local court or governmental body, agency or instrumentality shall prohibit or enjoin, the paying of such Note Principal Balance Increase by the Investors in accordance with the provisions hereof; (vi) No With respect to the Issuer, no Class A A-3 Monthly Interest, Class B A-4 Monthly Interest, Class C-1 A-5 Monthly Interest, Class C-2 Monthly Interest, Class A A-3 Additional Interest, Class B A-4 Additional Interest, Class C-1 A-5 Additional Interest, Class C-2 Additional Interest other fees and costs due and payable to the Investors pursuant to this Agreement and the other Transaction Documents or any unreimbursed Reduction Amounts shall be outstanding as of such Increase Date; (vii) On and as of such day, after giving effect to any purchase of the Note Principal Balance Increase, the Spread Account Amount shall be greater than the Required Spread Account AmountThe Revolving Period is in effect; (viii) On and as of such dayNo suit, after giving effect action or other proceeding, investigation or injunction, or final judgment relating thereto, shall be pending or, to each Note Principal Balance Increaseits knowledge, (A) the sum threatened before any court or governmental agency, seeking to restrain or prohibit or to obtain damages or other relief in connection with any of the Class B Note Principal BalanceTransaction Documents, the Class C Note Principal Balance and Receivable Sales Agreement, the Class D Note Principal Balance shall equal Program Management Agreement or the Required Aggregate Class Amount; and (B) the Series Allocation Percentage consummation of the total Receivables in the Issuer shall be equal to or greater than the Note Principal Balancetransactions contemplated thereby; (ix) The Servicer Credit Card Guidelines shall not have been amended or otherwise modified in a manner that could reasonably be in compliance with expected to have a Material Adverse Effect on the reporting obligation set forth in clause 4.3(a)(iii)Issuer or the Receivables; (x) The Net Yield for Both before and immediately following such purchase, (a) the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to be delivered shall have been at least 4.00%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Net Yield for such Monthly Period shall be 4.20% or less, the Investors shall have no obligation to purchase such Class B Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Net Yield for such Monthly Period is not be no less than 4.00%5% of the sum of (i) the Note Principal Balance and (ii) the outstanding principal balance of the Series 2018-Two Notes; and (b) the Series Adjusted Subordinated Transferor Amount shall be no less than Series Required Transferor Amount; (xi) The Monthly Payment Rate for the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to be delivered shall have not been less than 4.50%; provided, however, that if Both before and immediately following such Monthly Period is not the immediately prior Monthly Period and if the Monthly Payment Rate for such Monthly Period shall be 4.725% or lesspurchase, the Investors aggregate unpaid principal balance of all Series of Notes issued under the Indenture or any Indenture Supplement shall have no obligation to purchase not exceed the Net Eligible Receivables Balance as of such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Monthly Payment Rate for such Monthly Period is not less than 4.50%date; (xii) The weighted average FICO score of all Eligible Accounts for the next preceding Monthly Period for which All conditions precedent to a Monthly Servicer’s Statement is required to be delivered shall be not less than 580; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the weighted average FICO score of all Eligible Accounts for such Monthly Period shall be less than 590, the Investors shall have no obligation to purchase such “Note Principal Balance Increase until Increase” under Series 2017-One set forth in the Servicer shall Series 2017-One Purchase Agreement have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the weighted average FICO score for such Monthly Period is not less than 580;been satisfied or waived; and (xiii) The Monthly Delinquency Rate for With respect to the next preceding Monthly Period for which Initial Funding Date, certificates of the chief financial officer (or, in the absence of a Monthly Servicer’s Statement is required to be delivered shall not exceed 14.50%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Monthly Delinquency Rate for such Monthly Period shall be more than 13.775%chief financial officer, the Investors shall have no obligation to purchase chief executive officer) of the Transferor, in his or her capacity as such Note Principal Balance Increase until the Servicer shall have provided and not in his or her individual capacity, in form and substance satisfactory to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing Agent in its sole discretion (each, a “Solvency Certificate”) certifying that the Monthly Delinquency Rate for such Monthly Period is not more than 14.50%; (xiv) The Monthly Default Rate for Transferor and the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to Issuer will be delivered shall not exceed 20.75%; provided, however, that if such Monthly Period is not Solvent following the immediately prior Monthly Period and if consummation on the Monthly Default Rate for such Monthly Period shall be more than 19.713%Initial Funding Date of the transactions contemplated by this Agreement, the Investors shall have no obligation Indenture, the Indenture Supplement and the other Transaction Documents to purchase such Note Principal Balance Increase until which it is a party, including the Servicer shall have provided transfer by the Transferor to the Investors Issuer of the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Monthly Default Rate for such Monthly Period is not more than 20.75%; and (xv) The Adjusted Net Yield for the next preceding Monthly Period for which a Monthly Servicer’s Statement is required to be delivered shall have been at least 3.00%; provided, however, that if such Monthly Period is not the immediately prior Monthly Period and if the Adjusted Net Yield for such Monthly Period shall be less than 3.15%, the Investors shall have no obligation to purchase such Note Principal Balance Increase until the Servicer shall have provided to the Investors the Monthly Servicer’s Statement for the immediately prior Monthly Period conclusively showing that the Adjusted Net Yield for such Monthly Period is not less than 3.00%;Transferred Assets.