Common use of Removal After Cure Period Clause in Contracts

Removal After Cure Period. In the event any representation or warranty contained in subsection 2.04(a)(iv), (vi), (vii), (ix), (x), (xi), (xii), (xiii), (xiv), (xv) or (xvi) is not accurate in any material respect as of the date specified therein with respect to (x) any Collateral Certificate and such breach has a material adverse effect on the Collateral Certificate such that the Trust’s rights in, to or under such Collateral Certificate or its proceeds are impaired or the proceeds of such Collateral Certificate are not available for any reason to the Trust free and clear of any Lien or (y) any Receivable or the related Account and such breach has a material adverse effect on the Receivable such that as a result of the breach the Receivable is charged off as uncollectible, the Trust’s rights in, to or under such Receivable or its proceeds are impaired or the proceeds of such Receivable are not available for any reason to the Trust, then, unless cured within 60 days (or such longer period, not in excess of 120 days, as may be agreed to by the Indenture Trustee, the Collateral Agent and the Servicer) after the earlier to occur of the discovery thereof by the Transferor or receipt by the Transferor of written notice thereof (a “Repurchase Notice”) given by the Owner Trustee, the Indenture Trustee, the Collateral Agent or the Servicer, the Transferor shall accept reassignment of the Ineligible Collateral Certificate or of the Ineligible Receivable, as the case may be, on the terms and conditions set forth in paragraph (c) below.

Removal After Cure Period. In the event any representation or warranty contained in subsection 2.04(a)(iv), (vi), (vii), (ix), (x), (xi), (xii), (xiii), (xiv), (xv) or (xvi) is not accurate in any material respect as of the date specified therein with respect to (x) any Collateral Certificate and such breach has a material adverse effect on the Collateral Certificate such that the TrustChase Card Funding’s rights in, to or under such Collateral Certificate or its proceeds are impaired or the proceeds of such Collateral Certificate are not available for any reason to the Trust free and clear of any Lien Chase Card Funding or (y) any Receivable or the related Account and such breach has a material adverse effect on the Receivable such that as a result of the breach the Receivable is charged off as uncollectible, the TrustChase Card Funding’s rights in, to or under such Receivable or its proceeds are impaired or the proceeds of such Receivable are not available for any reason to Chase Card Funding, or if Chase Card Funding is required to accept reassignment of an Ineligible Collateral Certificate or Ineligible Receivable in accordance with subsection 2.05(b) of the Trust, Transfer and Servicing Agreement then, unless cured within 60 days (or such longer period, not in excess of 120 days, as may be agreed the period determined pursuant to by the Indenture Trustee, the Collateral Agent and the Servicersubsection 2.05(b) after the earlier to occur of the discovery thereof by the Transferor or receipt by the Transferor of written notice thereof (a “Repurchase Notice”) given by the Owner TrusteeTransfer and Servicing Agreement, the Indenture Trustee, the Collateral Agent or the Servicer, the Transferor Chase USA shall accept reassignment of the Ineligible Collateral Certificate or of the Ineligible Receivable, as the case may be, on the terms and conditions set forth in paragraph (c) belowsubsection 2.06(c).