Common use of Credit Review Point Clause in Contracts

Credit Review Point. Bank shall provide a credit allocation for the Program in the amount of the Credit Review Point. Bank will not be obligated to make any extension of credit under the Program if, after such extension, the aggregate Indebtedness for all Accounts would exceed the credit line for the Program then in effect. For the avoidance of doubt, all Indebtedness attributable to both Private Label Accounts and Co-Brand Accounts (including Indebtedness relating to Non-Retailer Purchases) shall be included in the calculations in respect of Indebtedness and the Credit Review Point under this Section 7.6. If at any time the aggregate Indebtedness with respect to all Accounts equals or exceeds [***] of the Credit Review Point then in effect, then within ninety (90) days thereafter, Bank will select one of the following options and give Retailer notice of its selection: (a) Bank may increase the Credit Review Point to an amount that will accommodate the then outstanding Indebtedness, and anticipated growth in such Indebtedness (as applicable) through the remainder of the Term, based on Bank’s good faith projections. If Bank selects this option, then Bank’s notice to Retailer will include the amount of the increased Credit Review Point. Retailer shall have the option to terminate the Agreement in accordance with the provisions of Section 10.2(h) of the Agreement if the Bank’s increase does not satisfy Retailer’s good faith projections of Program growth. (b) Bank may elect not to increase the Credit Review Point, in which case, Retailer will be entitled to terminate this Agreement in accordance with the provisions of Section 10.2(g) of the Agreement.

Credit Review Point. Bank shall provide a credit allocation for the Program in the amount of the Credit Review Point. Bank will not be obligated to make any extension of credit under the Program if, after such extension, the aggregate Indebtedness for all Accounts would exceed the credit line for the Program then in effect. For the avoidance of doubt, all Indebtedness attributable to both Private Label Accounts and Co-Brand Accounts (including Indebtedness relating to Non-Retailer Purchases) shall be included in the calculations in respect of Indebtedness and the Credit Review Point under this Section 7.6. Bank shall also have no obligation to extend further credit under the Program at any time after the occurrence of any event that would allow Bank to give notice of termination hereunder, should such event not be rectified within 30 days after notice of default is given. If at any time the aggregate Indebtedness with respect to all Accounts equals or exceeds [***] eighty percent (80%) of the Credit Review Point then in effect, then within ninety (90) days thereafter, Bank will select one of the following options and give Retailer written notice of its selection: (a) Bank may increase the Credit Review Point to an amount that will accommodate the then outstanding Indebtedness, and anticipated growth in such Indebtedness (as applicable) through the remainder of the Term), based on Bank’s good faith projections. If Bank selects this option, then Bank’s written notice to Retailer will include the amount of the increased Credit Review Point. Retailer shall have the option to terminate the Agreement in accordance with the provisions of Section 10.2(h) of the Agreement if the Bank’s increase does not satisfy Retailer’s good faith projections of Program growth. (b) Bank may elect not to increase the Credit Review Point, in which case, Retailer will be entitled to terminate this Agreement in accordance with the provisions of Section 10.2(g) of the Agreement.

Credit Review Point. Bank shall provide a an internal credit allocation for the Program in the amount of the Credit Review Point. Bank will shall not be obligated to make any extension of credit under the Program if, after such extension, the aggregate Indebtedness indebtedness for all Accounts would exceed the credit line for the Program Credit Review Point then in effect. For the avoidance of doubtIf, all Indebtedness attributable to both Private Label Accounts and Co-Brand Accounts (including Indebtedness relating to Non-Retailer Purchases) shall be included in the calculations in respect of Indebtedness and the Credit Review Point under this Section 7.6. If at any time during the term of this Agreement, the aggregate Indebtedness indebtedness with respect to all Accounts equals or exceeds [***Confidential portion has been omitted pursuant to a request for confidential treatment and has been filed separately with the Commission] of the Credit Review Point then in effecteffect (“CRP Threshold Date”), Bank will (i) promptly, and in any event within thirty (30) days, notify Retailer, (ii) review the Program and the Credit Review Point, and (iii) either increase the then within ninety (90) days thereafter, existing Credit Review Point or leave such Credit Review Point at its existing level. Bank will select one of the following foregoing options in clause (iii) within sixty (60) days after such CRP Threshold Date, and will give Retailer written notice of its selection: (a) Bank may increase such election, including, in the Credit Review Point to case of an amount that will accommodate the then outstanding Indebtedness, and anticipated growth in such Indebtedness (as applicable) through the remainder of the Term, based on Bank’s good faith projections. If Bank selects this option, then Bank’s notice to Retailer will include the amount of the increased Credit Review Point. Retailer shall have the option to terminate the Agreement in accordance with the provisions of Section 10.2(h) of the Agreement if the Bank’s increase does not satisfy Retailer’s good faith projections of Program growth. (b) Bank may elect not election to increase the Credit Review Point, in which casethe amount of such increase. If at any time Bank notifies Retailer of its election not to increase the then applicable Credit Review Point pursuant to this Section, Retailer will be entitled shall have the termination rights set forth in Section 17(b)(ii). For the purposes of this Agreement, “Credit Review Point” [**Confidential portion has been omitted pursuant to terminate this Agreement in accordance a request for confidential treatment and has been filed separately with the provisions Commission] or such other higher amount as Bank, in its discretion, may from time to time specify to Retailer in writing. ** Confidential portions have been omitted pursuant to a request for confidential treatment by Haverty Furniture Companies, Inc. pursuant to Rule 24B-2 under the Securities Exchange Act of Section 10.2(g) of the Agreement1934.

Credit Review Point. Bank shall provide a credit allocation for the Program in the amount of the Credit Review Point. Following notice to Retailer, Bank will not be obligated to make any extension of credit under the Program if, after such extension, the aggregate Aggregate Outstanding Indebtedness for all Accounts would exceed the credit line for the Program then in effect. For the avoidance of doubt, all Indebtedness attributable to both Private Label Accounts and Co-Brand Accounts (including Indebtedness relating to Non-Retailer Purchases) shall be included in the calculations in respect of Indebtedness and the Credit Review Point under this then in effect (except to the extent set forth in Section 7.69.2(j)(iii)). If at any time the aggregate Aggregate Outstanding Indebtedness with respect to all Accounts equals or exceeds [***] eighty percent (80%) of the Credit Review Point then in effect, then within ninety (90) days thereafter, Bank will select one of the following options terms and give Retailer notice of its selectionconditions shall apply: (a) [*** Confidential portion has been omitted pursuant to a request for confidential treatment and has been filed separately with the Commission.] (b) [*** Confidential portion has been omitted pursuant to a request for confidential treatment and has been filed separately with the Commission.] (i) Bank may increase the Credit Review Point to an amount that will accommodate the then outstanding Indebtedness, and anticipated growth in such Indebtedness (as applicable) through the remainder of the Term), based on Bank’s good faith projections. If Bank selects this option, then Bank’s written notice to Retailer will include the amount of the increased Credit Review Point. Retailer shall have the option to terminate the Agreement in accordance with the provisions of Section 10.2(h) of the Agreement if the Bank’s increase does not satisfy Retailer’s good faith projections of Program growth. (bii) Bank may elect not to increase the Credit Review Point. (c) Following any notice of termination under Section 9.2(j) (or Bank’s election not to increase the Credit Review Point under clause (ii) above), in which case, Bank shall provide Retailer will with reports at the end of each month (such reports to be entitled to terminate this Agreement in accordance included with the provisions standard monthly reporting package being provided to Retailer by Bank at such time) setting forth the amount of Section 10.2(g) Aggregate Outstanding Indebtedness as of the Agreementend of such month.

Credit Review Point. Bank shall provide a credit allocation for the Program in the amount of the Credit Review Point. Bank will not be obligated to make any extension of credit under the Program if, after such extension, the aggregate Indebtedness for all Accounts would exceed the credit line for the Program then in effect. For the avoidance of doubt, all Indebtedness attributable to both Private Label Accounts and Co-Brand brand Accounts (including Indebtedness relating to Non-Retailer Purchases) shall be included in the calculations in respect of Indebtedness and the Credit Review Point under this Section 7.6. Bank shall also have no obligation to extend further credit under the Program at any time after the occurrence of any event that would allow Bank to give notice of termination hereunder, should such event not be rectified within 30 days after notice of default is given. If at any time the aggregate Indebtedness with respect to all Accounts equals or exceeds [***] eighty percent (80%) of the Credit Review Point then in effect, then within ninety (90) days thereafter, Bank will select one of the following options and give Retailer written notice of its selection: (a) Bank may increase the Credit Review Point to an amount that will accommodate the then outstanding Indebtedness, and anticipated growth in such Indebtedness (as applicable) through the remainder of the Term), based on Bank’s good faith projections. If Bank selects this option, then Bank’s written notice to Retailer will include the amount of the increased Credit Review Point. Retailer shall have the option to terminate the Agreement in accordance with the provisions of Section 10.2(h) 0 of the Agreement if the Bank’s increase does not satisfy Retailer’s good faith projections of Program growth. (b) Bank may elect not to increase the Credit Review Point, in which case, Retailer will be entitled to terminate this Agreement in accordance with the provisions of Section 10.2(g) 0 of the Agreement.