Common use of Establishment and Operation of the Plan Clause in Contracts

Establishment and Operation of the Plan. (a) The Plan is established for the primary purpose of providing Customer financing for Goods and Services purchased from Company. Qualified Applicants desiring to use the Plan shall be granted an Account by Bank with a credit line in an amount to be determined by Bank in its discretion for each individual Applicant. Subject to Section 3.6 (d), Bank shall determine the terms and conditions of the Account to be contained in a Credit Card Agreement, which Credit Card Agreement shall be subject to change upon notice given by Bank to the Cardholders in accordance with Applicable Law. All Existing Accounts are deemed provided under the Plan. (b) Bank shall operate the Plan in accordance with the Service Standards set forth in Schedule 2.1, as such performance standards may be modified from time to time at the reasonable request of Bank or Company and with the consent of the other party. Within fifteen (15) days after the end of each calendar month, the Bank will deliver to the Company a compliance certificate of the chief executive officer or chief financial officer of the Bank setting forth in reasonable detail data demonstrating compliance during such calendar month with such performance standards. (c) Enhancements to, and modifications or upgrades of, the computer processing, payment, billing and information services provided by the Bank will be made from time to time at the reasonable request of the Company. Any such enhancements, modifications or upgrades shall, to the extent requested by the Company, be made on terms to be agreed upon. (d) Not later than one hundred and twenty (120) days following the Effective Date, Bank will design a Cardholder satisfaction survey process to be administered in accordance with the procedures already in place at the Bank, at a cost comparable to its existing cost. This survey should be an on-going, real-time process by which Bank and Company can measure Cardholder satisfaction. Bank will solicit Company's review and approval of the methodology used to analyze and assess the results of the survey (such approval not to be unreasonably withheld or delayed) and will provide the raw and analyzed survey results to Company. The results will be presented in a mutually agreed format. Bank will deliver Cardholder satisfaction survey results to Company on a quarterly basis and will on a monthly basis discuss the trends based on the prior month's results. (e) From time to time during the Term, Company may request that Bank provide to Company new products, services or technology in connection with the Plan, identified by Company, which are then commercially available from the top tier of well-managed private label credit card services vendors ("Competitive Vendors") and offered generally to such Competitive Vendors' clients and potential clients. Bank will exert its good faith reasonable efforts to provide such services on terms reasonably competitive to those offered in the marketplace by Competitive Vendors.