Removal of Accounts. (a) On any day of any Due Period the Sellers shall have the right to require the reassignment to them or their designee of all the Trust’s right, title and interest in, to and under the Receivables then existing and thereafter created, all monies due or to become due and all amounts received with respect thereto and all proceeds thereof in or with respect to the Accounts designated by the Sellers, upon satisfaction of all the following conditions:
(i) on or before the fifth Business Day immediately preceding the Removal Date, the Sellers shall have given the Trustee, the Servicer, each Rating Agency and each Series Enhancer notice of such removal and specifying the date for removal of the Removed Accounts (the “Removal Date”);
(ii) on or prior to the date that is ten Business Days after the Removal Date, the Sellers shall have amended Schedule 1 by delivering to the Trustee a computer file or microfiche list containing a true and complete list of the Removed Accounts specifying for each such Account, as of the date notice of the Removal Date is given, its account number, the aggregate amount outstanding in such Account and the aggregate amount of Principal Receivables outstanding in such Account;
(iii) the Sellers shall have represented and warranted as of the Removal Date that the list of Removed Accounts delivered pursuant to paragraph (ii) above, as of the Removal Date, is true and complete in all material respects;
(iv) the Rating Agency Condition shall have been satisfied with respect to such removal;
(v) such removal will not result in the occurrence of an Amortization Event and each of the Sellers shall have delivered to the Trustee and each Series Enhancer a certificate of a Vice President or more senior officer, dated the Removal Date, to the effect that such Seller reasonably believes that such removal will not have an Adverse Effect and is not reasonably expected to have an Adverse Effect at any time in the future;
(vi) the Sellers shall have delivered to the Trustee, each Rating Agency and each Series Enhancer a Tax Opinion, dated the Removal Date, with respect to such removal; and
(vii) such removal of the Removed Accounts would not have precluded transfers of Receivables to the Trust from being accounted for as sales under generally accepted accounting principles in accordance with FASB Statement No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities, as in effect for reporting periods before No...
Removal of Accounts. (a) Subject to the conditions set forth below, if, from time to time, Chase Card Funding elects to designate Receivables from certain Accounts (the “Removed Accounts”) for removal from the Trust, then Chase USA may, but shall not be obligated to, designate such Receivables from the Removed Accounts for reassignment from Chase Card Funding.
(b) Chase USA shall be permitted to designate and require reassignment to it of Receivables from Removed Accounts only upon satisfaction of the following conditions:
(i) all of the requirements for the removal of Accounts under the Transfer and Servicing Agreement and the Asset Pool One Supplement have been satisfied; and
(ii) on or prior to the Removal Date, Chase USA shall have delivered to Chase Card Funding for execution, a written assignment in substantially the form of Exhibit B (the “Reassignment”) and Chase USA shall have, within five (5) Business Days after the Removal Date, or as otherwise agreed upon between Chase USA and Chase Card Funding, delivered to Chase Card Funding, or maintained on behalf of Chase Card Funding pursuant to Section 3.08, an accurate list, based on the computer records of Chase USA (in the form of a computer file, microfiche list, CD-ROM or such other form as is agreed upon between Chase USA and Chase Card Funding) of all Removed Accounts designated by such Reassignment, identified by account reference number and the aggregate amount of Receivables outstanding in each Removed Account as of the Removal Cut-Off Date, which list shall, as of the Removal Date, modify and amend and be incorporated into and made a part of this Agreement. Upon satisfaction of the above conditions, Chase Card Funding shall execute and deliver the Reassignment to Chase USA, and the Receivables from the Removed Accounts shall no longer constitute a part of the Chase Card Funding Assets.
Removal of Accounts. Purchaser may remove Accounts from the Note Trust in accordance with Section 2.07 of the Transfer and Servicing Agreement. On each day on which Accounts are so removed from the Note Trust pursuant to Section 2.07 of the Transfer and Servicing Agreement, RPA Seller and Purchaser may, but shall not be required to, by mutual agreement, remove Accounts from the operation of this Agreement. RPA Seller agrees to provide to Purchaser such information, certificates, financing statements, opinions and other materials as are reasonably necessary to enable Purchaser to satisfy its obligations under Section 2.07 of the Transfer and Servicing Agreement with respect to the removal of Accounts.
Removal of Accounts. Purchaser may remove Accounts from the Certificate Trust in accordance with Section 2.07 of the Pooling and Servicing Agreement. RPA Seller agrees to provide to Purchaser such information, certificates, financing statements, opinions and other materials as are reasonably necessary to enable Purchaser to satisfy its obligations under Section 2.07 of the Pooling and Servicing Agreement with respect to the removal of Accounts.
Removal of Accounts. Purchaser may remove Accounts from the Receivables Trust in accordance with SECTION 2.9 of the Pooling and Servicing Agreement or SECTION 2.7 of the Transfer and Servicing Agreement. On each day on which Accounts are removed from the Receivables Trust pursuant to SECTION 2.9 of the Pooling and Servicing Agreement or SECTION 2.7 of the Transfer and Servicing Agreement, RPA Seller and Purchaser may, but shall not be required to, by mutual agreement, remove Accounts from the operation of this Agreement. RPA Seller agrees to provide to Purchaser such information, certificates, financing statement, opinions and other materials as are reasonably necessary to enable Purchaser to satisfy its obligations under SECTION 2.9 of the Pooling and Servicing Agreement and SECTION 2.7 of the Transfer and Servicing Agreement with respect to the removal of Accounts.
Removal of Accounts. On any day of any Monthly Period each Transferor shall have the right to require the reassignment to it or its designee of all the Trust's right, title and interest in, to and under the Receivables then existing and thereafter created, all Interchange and Recoveries related thereto, all monies due or to become due and all amounts received or receivable with respect thereto and all proceeds thereof in or with respect to the Accounts (the "Removed Accounts") (unless otherwise set forth in the applicable Indenture Supplement) designated for removal by the Transferor, upon satisfaction of the conditions in clauses (i) through (vi) below;
(i) on or before the fifth Business Day immediately preceding the Removal Date, such Transferor shall have given written notice to the Owner Trustee, the Indenture Trustee, the Servicer, the Rating Agency and each Series Enhancer (unless such notice requirement is otherwise waived) of such removal and specifying the applicable Removal Cut-Off Date and date for removal of the Removed Accounts (the "Removal Date");
(ii) on or prior to the date that is five (5) Business Days on or before the Removal Date, such Transferor shall amend Schedule 1 by delivering to the Owner Trustee a computer file or microfiche list containing a true and complete list of the Removed Accounts specifying for each such Account, as of the Removal Cut-Off Date, its account number, the aggregate amount outstanding in such Account and the aggregate amount of Principal Receivables outstanding in such Account;
(iii) such Transferor shall have represented and warranted as of the Removal Date that the list of Removed Accounts delivered pursuant to paragraph (ii) above, as of the Removal CutOff Date, is true and complete in all material respects;
(iv) the Rating Agency Condition shall have been satisfied with respect to the removal of the Removed Accounts;
(v) the Transferor shall select Accounts for removal on a random basis, or such other selection process which is consistent with achieving sale treatment under GAAP.
(vi) such Transferor shall have delivered to the Owner Trustee and the Indenture Trustee an Officer's Certificate, dated the Removal Date, to the effect that such Transferor reasonably believes that (A) such removal will not have a material adverse effect on the Noteholders, (B) such removal will not result in the occurrence of a Pay Out Event or Event of Default, and (C) no selection procedures believed by such Transferor to be materially adverse...
Removal of Accounts. Purchaser may remove Accounts from the Receivables Trust in accordance with Section 2.07 of the Pooling and Servicing Agreement or Section 2.07 of the Transfer and Servicing Agreement. On each day on which Accounts are so removed from the Receivables Trust pursuant to either such Section 2.07, RPA Seller and Purchaser may, but shall not be required to, by mutual agreement, remove Accounts from the operation of this Agreement. RPA Seller agrees to provide to Purchaser such information, certificates, financing statements, opinions and other materials as are reasonably necessary to enable Purchaser to satisfy its obligations under Section 2.07 of the Pooling and Servicing Agreement and Section 2.07 of the Transfer and Servicing Agreement with respect to the removal of Accounts. ARTICLE III
Removal of Accounts. (a) If on any Determination Date the Seller Interest exceeds 10% of the Aggregate Principal Receivables on such Determination Date, the Seller may, but shall not be obligated to, designate Receivables from Accounts for deletion and removal ("Removed Accounts") from the Trust, including Expired Accounts ---------------- designated pursuant to Section 2.8; provided, however, that the Seller shall not ----------- -------- ------- make more than one such designation in any Monthly Period in addition to any such designation pursuant to Section 2.8. On or before the fifth Business Day (the "Removal Notice Date") prior to the date on which the designated Removed ------------------- Accounts will be reassigned by the Trustee to the Seller, including any reassignment pursuant to Section 2.8 (the "Removal Date"), the Seller shall give ----------- ------------ the Trustee and the Servicer
Removal of Accounts. (a) On each Determination Date that the Transferor Amount for the related Monthly Period exceeds the Minimum Transferor Amount, the Trustee shall be deemed to have offered to the Transferor automatically and without any notice to or action by or on behalf of the Trustee, as of such Determination Date, the right to remove from the Trust all of the Trust's right, title and interest in, to and under the Receivables now existing and hereafter created, all monies due or to become due and all amounts received with respect thereto and all proceeds thereof in or with respect to those Accounts designated
Removal of Accounts. (a) Subject to the conditions set forth below, during the Revolving Period, the Transferor may, but shall not be obligated to, designate, from time to time, Accounts for
