Common use of Issuer of Cards and Approval of Cardholders Clause in Contracts

Issuer of Cards and Approval of Cardholders. (a) Bank shall sponsor one or more BINs for the Cards and will maintain one or more Programs whereby it is the issuer of all Cards marketed and distributed by Program Manager pursuant to this Agreement and in accordance with Applicable Law. In addition, with respect to Programs that establish an ongoing relationship with the Cardholder, Bank shall review customer information regarding each such Cardholder, and shall be responsible for ensuring that each such Cardholder meets Bank’s Customer Identification Program as required by Applicable Law. Bank will also regularly screen all Cardholders through Bank’s screening system implemented to comply with Applicable Law, including, without limitation, any and all regulations enforced by the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”).

Issuer of Cards and Approval of Cardholders. (a) Bank shall sponsor one or more BINs for the Cards and will maintain one or more Programs whereby it is the issuer of all Cards marketed and distributed by Program Manager pursuant to this Agreement and in accordance with Applicable Law. In addition, with respect to Programs that establish an ongoing relationship with the Cardholder, Bank shall review customer information regarding each such Cardholder, and shall be responsible for ensuring that each such Cardholder meets Bank’s Customer Identification Program as required by Applicable Law. Bank will also regularly screen all Cardholders through Bank’s screening system implemented to comply with Applicable Law, including, without limitation, any and all regulations enforced by the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”).