Optional Removals Sample Clauses
The Optional Removals clause allows one or both parties to request the removal of certain items, fixtures, or property from a premises or project site. In practice, this clause typically outlines the process for making such requests, any notice requirements, and who bears the cost of removal and restoration. Its core function is to provide flexibility for parties to adapt the scope of work or occupancy to their needs, while clearly allocating responsibility and preventing disputes over what may be taken or left behind.
Optional Removals. From time to time, Discover Funding as the Holder of the Transferor Certificate may, but shall not be obligated to, (i) designate Accounts for deletion and removal from the Trust (“Removed Accounts”) and (ii) cause the Trust to transfer to the Holder of the Transferor Certificate (A) all receivables existing in such Removed Accounts on the date of designation and (B) all receivables created in such Removed Accounts on and after the effective date of designation, and the corresponding portion of Interchange arising on and after the effective date of such designation (the “Removed Interchange”). Such deletion and removal shall be effective as of the day specified in the notice referred to in the following sentence, which (i) may be any day with respect to removals of Accounts (but shall be effective as of the last day of any Due Period with respect to the Removed Interchange) covered by Section 2.11(b)(vi)(A), and (ii) shall be the last day of any Due Period with respect to removals of Accounts (and the Removed Interchange) covered by Section 2.11(b)(vi)(B) or (C) (any such effective date, the “Removal Date”), subject to the notice requirement and other conditions set forth below. On or before the fifth Business Day prior to the Removal Date (the “Removal Notice Date”), Discover Funding as the Holder of the Transferor Certificate shall give the Trustee, the Master Servicer and any Credit Enhancement Provider written notice that the receivables from such Removed Accounts and the Removed Interchange are to be reassigned by the Trustee to Discover Funding as the Holder of the Transferor Certificate effective as of the Removal Date.
Optional Removals. From time to time, Greenwood on behalf of the Holder of the Seller Certificate may, but shall not be obligated to, designate Accounts for deletion and removal from the Trust ("Removed Accounts"), such deletion and removal to be effective as of the last day of any Due Period (the "Removal Date"), subject to the notice requirement and other conditions set forth below. On or before the fifth Business Day prior to the Removal Date (the "Removal Notice Date"), Greenwood on behalf of the Holder of the Seller Certificate shall give the Trustee, the Master Servicer and any Credit Enhancement Provider written notice that the Receivables from such Removed Accounts are to be reassigned by the Trustee to Greenwood on behalf of the Holder of the Seller Certificate effective as of the Removal Date.
Optional Removals. From time to time, Discover Bank on behalf of the Holder of the Seller Certificate may, but shall not be obligated to, designate Accounts for deletion and removal from the Trust ("Removed Accounts"), such deletion and removal to be effective as of the day specified in the notice referred to in the following sentence, which may be any day with respect to removals of Accounts specified in Section 2.11(b)(vi)(A) and which shall be the last day of any Due Period with respect to removals of Accounts specified in Section 2.11(b)(vi)(B) or (C) (any such effective date, the "Removal Date"), subject to the notice requirement and other conditions set forth below. On or before the fifth Business Day prior to the Removal Date (the "Removal Notice Date"), Discover Bank on behalf of the Holder of the Seller Certificate shall give the Trustee, the Master Servicer and any Credit Enhancement Provider written notice that the Receivables from such Removed Accounts are to be reassigned by the Trustee