Common use of Initial Collateral Clause in Contracts

Initial Collateral. By execution of each Initial Asset Pool One Account Assignment, the Issuing Entity included the Receivables existing on the applicable Cut-Off Date or thereafter created in the Accounts designated thereby, all Interchange and Recoveries related thereto, all monies due or to become due and all amounts received or receivable with respect thereto and the “proceeds” (including “proceeds” as defined in the applicable UCC) thereof and Insurance Proceeds relating thereto.

Initial Collateral. By execution of each Initial Asset Pool One Account Assignment, the Issuing Entity included the Receivables existing on the applicable Cut-Cut- Off Date or thereafter created in the Accounts designated thereby, all Interchange and Recoveries related thereto, all monies due or to become due and all amounts received or receivable with respect thereto and the “proceeds” (including “proceeds” as defined in the applicable UCC) thereof and Insurance Proceeds relating thereto.