Credit Card Agreements and Guidelines. RPA Seller shall comply with and perform its obligations under the Credit Card Agreements relating to the Accounts and the Credit Card Guidelines and all applicable rules and regulations of VISA USA, Inc. and MasterCard International Incorporated except insofar as any failure to comply or perform would not materially or adversely affect the rights and interests of the Purchaser, the Trustee or the Certificateholders under the Investor Certificates or any other Transaction Documents. Except as expressly provided in any Supplement, RPA Seller may change the terms and provisions of the Credit Card Agreements or the Credit Card Guidelines in any respect (including, without limitation, the reduction of the required minimum monthly payment, the calculation of the amount, or the timing, of charge offs and Periodic Finance Charges and other fees assessed thereon), but only if such change (i) would not, in the reasonable belief of RPA Seller, cause a Pay Out Event to occur, and (ii) is made applicable to the comparable segment of the revolving credit card accounts owned and serviced by RPA Seller which have characteristics the same as, or substantially similar to, the Accounts that are the subject of such change, except as otherwise restricted by an endorsement, sponsorship or other agreement between RPA Seller and an unrelated third party or by the terms of the Credit Card Agreements; provided, however, that for purposes of RPA Seller’s debt deferral and debt cancellation programs, the requirements of clause (ii) shall be deemed to be satisfied if the opportunity to initiate the change is made available to a substantial portion of the comparable segment of the revolving credit card accounts owned and serviced by RPA Seller which have characteristics the same as, or substantially similar to, the Accounts to which such opportunity is made available. In addition, except as otherwise required by any Requirement of Law, RPA Seller shall not at any time reduce the Periodic Finance Charges assessed on any Receivable or other fees or charges on any Account if, as a result of such reduction, RPA Seller’s reasonable expectation is that the Quarterly Excess Spread Percentage as of any future date would be less than 2.50% unless such reduction is made applicable to the comparable segment of the consumer revolving credit accounts owned and serviced by RPA Seller that have characteristics the same as, or substantially similar to, the Accounts that are subject to such change.
Credit Card Agreements and Guidelines. Subject to compliance with all Requirements of Law, and the paragraph above, the Seller may change the terms and provisions of the applicable Credit Agreements or the applicable Credit Guidelines of the Seller in any respect (including the calculation of the amount or the timing of charge-offs and the Periodic Finance Charges to be assessed thereon). Notwithstanding the above, unless required by Requirements of Law or as permitted by the paragraph above, the Seller shall take no such action unless (i) at the time of such action, the Seller reasonably believes that such action will not cause an Adverse Effect, and (ii) such change is made applicable to any comparable segment of accounts owned by the Seller which have characteristics the same as, or substantially similar to, such Accounts or Additional Accounts that are the subject of such change, except as otherwise restricted by an endorsement, sponsorship, or other agreement between the Seller and an unrelated third party or by the terms of the Credit Agreement. Pursuant to the Amended and Restated Receivables Purchase Agreement (as may be amended from time to time, the “HAFC II RPA”), dated as of March 1, 2002, between HRAC II and HAFC II, HRAC II has sold and will, from time to time, continue to sell certain Purchased Assets to HAFC II. Pursuant to the Amended and Restated Pooling and Servicing Agreement (as amended and supplemented and as may be further amended and supplemented from time to time, the “Affinity Trust PSA”), dated as of August 1, 1993, among HAFC II (as successor in interest to Household Affinity Funding Corporation), Household Finance Corporation and The Bank of New York, as Trustee (the “Trustee”) of the Affinity Trust, HAFC II has sold and will, from time to time, continue to sell certain Purchased Assets to The Bank of New York, as Trustee of the Affinity Trust. With respect to the Affinity Trust, references in the Agreement to Schedule 3 shall refer to the following: Trust – The Household Affinity Credit Card Master Trust I Purchaser – HAFC II Trustee – The Bank of New York Servicer – Household Finance Corporation The applicable agreements – The HAFC II RPA and the PSA
Credit Card Agreements and Guidelines. Subject to compliance with all Requirements of Law and paragraph (a) above, Citibank and such Additional Seller or such other Account Owner may change the terms and provisions of the Credit Card Agreements or the Credit Card Guidelines in any respect (including the calculation of the amount or the timing of charge-offs and the Periodic Rate Finance Charges to be assessed thereon) only if such change is made applicable to the comparable segment of revolving credit card accounts owned or serviced by it which have the same or substantially similar characteristics as the Accounts which are the subject of such change. Notwithstanding the foregoing, unless required by Requirements of Law or as permitted by Section 2.08(a), an Account Owner will take no action with respect to the applicable Credit Card Agreements or the applicable Credit Card Guidelines, which, at the time of such action, such Account Owner reasonably believes will have a material adverse effect on the Investor Certificateholders. No Seller will enter into any amendments to a Receivables Purchase Agreement or enter into a new Receivables Purchase Agreement unless the Rating Agency Condition has been satisfied.
Credit Card Agreements and Guidelines. Subject to compliance with all Requirements of Law and paragraph (g) above, [Short Name of Account Owner] may change the terms and provisions of the applicable Credit Card Agreements or the applicable Credit Card Guidelines in any respect (including the calculation of the amount or the timing of charge-offs and the Periodic Rate Finance Charges to be assessed thereon) only if such change is made applicable to the comparable segment of revolving credit card accounts owned or serviced by it which have the same or substantially similar characteristics as the Designated Accounts which are the subject of such change. Notwithstanding the above, unless required by Requirements of Law or as permitted by Section 5.01(g), [Short Name of Account Owner] will take no action with respect to the applicable Credit Card Agreements or the applicable Credit Card Guidelines, which, at the time of such action [Short Name of Account Owner] reasonably believes will have a material adverse effect on [Short Name of Receivables Purchaser] or the Certificateholders.
Credit Card Agreements and Guidelines. Subject to compliance with all Requirements of Law and paragraph (a) above any Account Owner may change the terms and provisions of the applicable Credit Card Agreements or the applicable Credit Card Guidelines in any respect (including the calculation of the amount or the timing of charge-offs and the Periodic Rate Finance Charges to be assessed thereon). Notwithstanding the above, unless required by Requirements of Law or as permitted by Section 2.8(a), no Account Owner will take any action with respect to the applicable Credit Card Agreements or the applicable Credit Card Guidelines, which, at the time of such action, the Account Owner reasonably believes will have a material adverse effect on the Investor Certificateholders. The Transferor further covenants that it will not enter into any amendments to a Receivables Purchase Agreement or enter into a new Receivables Purchase Agreement unless the Rating Agency Condition has been satisfied.
Credit Card Agreements and Guidelines. Chase USA, as Account Owner, shall comply with and perform its obligations under the Credit Card Agreements relating to the Accounts and the Credit Card Guidelines and all applicable rules and regulations of the bankcard payment networks or other similar payment systems except insofar as any failure to comply or perform would not materially and adversely affect the rights of Chase Card Funding or the Noteholders; provided, however, Chase USA may change the terms and provisions of the applicable Credit Card Agreements or the applicable Credit Card Guidelines in any respect (including the reduction of the required minimum monthly payment, the calculation of the amount, or the timing, of charge-offs and the Periodic Finance Charges and other fees to be assessed thereon) only if such change (i) would not, in the reasonable belief of Chase USA, cause an Early Amortization Event or Event of Default to occur, and (ii) is made applicable to any comparable segment of the revolving credit card accounts owned by Chase USA which have characteristics the same as, or substantially similar to, the Accounts that are the subject of such change, except as otherwise restricted by an endorsement, sponsorship, or other agreement between Chase USA and an unrelated third party or by the terms of the Credit Card Agreements.
Credit Card Agreements and Guidelines. Each Transferor that is an Account Owner covenants that it shall comply with and perform its obligations under the Credit Card Agreements relating to the Accounts and the Credit Card Guidelines and all applicable rules and regulations of the applicable credit card company except insofar as any failure to comply or perform would not materially and adversely affect the rights of the Trust or the Noteholders; provided, however, the applicable Transferor may change the terms and provisions of the applicable Credit Card Agreements or the applicable Credit Card Guidelines in any respect (including the reduction of the required minimum monthly payment, the calculation of the amount, or the timing, of charge-offs and the Periodic Finance Charges and other fees to be assessed thereon) only if such change (i) would not, in the reasonable belief of such applicable Transferor, cause an Early Amortization Event or Event of Default to occur, and (ii) is made applicable to any comparable segment of the consumer revolving credit card accounts owned by such applicable Transferor which have characteristics the same as, or substantially similar to, the Accounts that are the subject of such change, except as otherwise restricted by an endorsement, sponsorship, or other agreement between such applicable Transferor and an unrelated third party or by the terms of the Credit Card Agreements.
Credit Card Agreements and Guidelines. The Seller shall comply with the applicable “Credit Card Agreements and Guidelines” covenant set forth in Schedule 3 with respect to the Accounts or Additional Accounts transferred to each Trust as set forth therein.
Credit Card Agreements and Guidelines. Subject to compliance with all Requirements of Law and paragraph (h) above, the Seller [or other Account Owner, as the case may be], may change the terms and provisions of the applicable Credit Card Agreements or the applicable Credit Card Guidelines in any respect (including the calculation of the amount or the timing of charge- offs and the Periodic Rate Finance Charges to be assessed thereon). Notwithstanding the above, unless required by Requirements of Law or as permitted by Section 5.02(a), the Seller [or other Account Owner, as the case may be], will take no action with respect to the applicable Credit Card Agreements or the applicable Credit Card Guidelines, which, at the time of such action, the Seller [or other Account Owner, as the case may be,] reasonably believes will have a material adverse effect on [ ] or the Investor Certificateholders. [ ] covenants that, at any time that the Seller is not the Servicer under the Pooling and Servicing Agreement, it will provide the Seller with such information as the Seller may reasonably request to enable the Seller to determine compliance with the covenants contained in Section 5.02(b).
Credit Card Agreements and Guidelines. Subject to compliance with all Requirements of Law and Section 5.02(a), the Account Owner may change the terms and provisions of the Credit Card Agreements or the Credit Card Guidelines with respect to any of the Accounts owned by it in any respect (including the calculation of the amount or the timing of charge-offs and the Periodic Rate Finance Charges and other fees to be assessed thereon) only if such change is made applicable to all comparable segments of the VISA®, private label or other retail consumer revolving credit card accounts owned by such Account Owner which have characteristics the same as, or substantially similar to, such Accounts. Notwithstanding the foregoing, unless required by Requirements of Law or as permitted by Section 5.02(a), no Account Owner will take any action with respect to the Credit Card Agreements or the Credit Card Guidelines, which, at the time of such action, the Account Owner reasonably believes will have a material adverse effect on the Noteholders. The Seller further covenants that it will not enter into any amendments to the Receivables Purchase Agreements or enter into a new Receivables Purchase Agreement unless the Rating Agency Condition has been satisfied. The Purchaser covenants that it will provide the Seller with such information as the Seller may reasonably request to enable the Seller to determine compliance with the covenants contained in Section 5.02(b).
