Common use of Removal of Accounts and Participation Interests Clause in Contracts

Removal of Accounts and Participation Interests. (a) 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 Recoveries related thereto received after the Removal Date, 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 such Accounts (the "Removed Accounts") or Participation Interests conveyed to the Trust by such Transferor (the "Removed Participation Interests") (unless otherwise set forth in the applicable Participation Interest Supplement or Indenture Supplement) and designated for removal by the Transferor, upon satisfaction of the conditions in clauses (i) through (v) below; provided, however, that the conditions listed in clauses (iv) and (v) below need not be satisfied if the Removed Accounts (x) are Zero Balance Accounts or (y) relate to a terminated Merchant Agreement and the related Merchant has elected to purchase the Receivables in such Removed Accounts:

Removal of Accounts and Participation Interests. (a) On any day of any Monthly Due Period each Transferor shall have the right to designate Accounts and require the reassignment to it or its designee of all the Owner Trustee’s, if any, and the Trust's ’s right, title and interest in, to and under the Receivables then existing and thereafter created, all Interchange, if any, and Recoveries related thereto received after the Removal Datethereto, all monies due or to become due and all amounts received or receivable with respect thereto after the Removal Date and all proceeds thereof in or with respect to such Accounts and any Insurance Proceeds relating thereto (the "“Removed Accounts"” ) or Participation Interests conveyed to the Trust by such Transferor (the "“Removed Participation Interests"” ) (unless otherwise set forth in the applicable Participation Interest Supplement or Indenture Supplement) and designated for removal by the Transferor, upon satisfaction of the conditions in clauses (i) through (v) below; provided, however, (x) that the conditions listed in clauses (iv) and (v) below need not be satisfied if the Removed Accounts (x) are Zero Balance Accounts or (y) relate related to a terminated Merchant Agreement Agreement, and (y) that the related Merchant has elected to purchase conditions listed in clauses (i) through (v) below need not be satisfied if the Receivables in such Removed Accounts are Zero Balance Accounts:

Removal of Accounts and Participation Interests. (a) On any day of any Monthly Due Period each Transferor shall have the right to designate Accounts and require the reassignment to it or its designee of all the Owner Trustee’s, if any, and the Trust's ’s right, title and interest in, to and under the Receivables then existing and thereafter created, all Interchange and Recoveries related thereto received after the Removal Datethereto, all monies due or to become due and all amounts received or receivable with respect thereto after the Removal Date and all proceeds thereof in or with respect to such Accounts and any Insurance Proceeds relating thereto (the "“Removed Accounts"” ) or Participation Interests conveyed to the Trust by such Transferor (the "“Removed Participation Interests"” ) (unless otherwise set forth in the applicable Participation Interest Supplement or Indenture Supplement) and designated for removal by the Transferor, upon satisfaction of the conditions in clauses (i) through (v) below; provided, however, (x) that the conditions listed in clauses (iv) and (v) below need not be satisfied if the Removed Accounts are related to a terminated Affinity Agreement, and (xy) that the conditions listed in clauses (i) through (v) below need not be satisfied if the Removed Accounts are Zero Balance Accounts or (y) relate to a terminated Merchant Agreement and the related Merchant has elected to purchase the Receivables in such Removed Accounts:

Removal of Accounts and Participation Interests. (a) On any day of any Monthly Due Period each Transferor shall have the right to (x) designate Zero Balance Accounts, specific terminated merchant or co-branding participant accounts and randomly chosen removed accounts and to remove participations from the trust and (y) require the reassignment to it or its designee of all the Owner Trustee's and the Trust's right, title and interest in, to and under the Receivables then existing and thereafter created, all Recoveries related thereto received after the Removal Date, 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 such the Accounts (the "Removed Accounts") or Participation Interests conveyed to the Trust by such Transferor (the "Removed Participation Interests") (unless otherwise set forth in the applicable Participation Interest Supplement or Indenture Supplement) and designated for removal by the Transferor, upon satisfaction of the conditions in clauses (i) through (v) below; provided, however, that the conditions listed in clauses (iv) and (v) below need not be satisfied if the Removed Accounts (x) are Zero Balance Accounts or (y) relate to a terminated Merchant Agreement and the related Merchant has elected to purchase the Receivables in such Removed Accounts:

Removal of Accounts and Participation Interests. (a) 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 received after the Removal Date, all monies due or to become due and all amounts received or receivable with respect thereto thereto, and all proceeds thereof in or with respect to such the Accounts (the "Removed AccountsREMOVED ACCOUNTS") or Participation Interests conveyed to the Trust by such Transferor (the "Removed Participation InterestsREMOVED PARTICIPATION INTERESTS") (unless otherwise set forth in the applicable Participation Interest Supplement or Indenture Supplement) and designated for removal by the Transferor, upon satisfaction of the conditions in clauses (i) through (vvi) below; provided, however, that the conditions listed in clauses (iv) and (v) below need not be satisfied if the Removed Accounts (x) are Zero Balance Accounts or (y) relate to a terminated Merchant Affinity Agreement and the related Merchant merchant or co-branding participant has elected to purchase the Receivables in such Removed Accounts:

Removal of Accounts and Participation Interests. (a) ----------------------------------------------- On any day of any Monthly Due Period each Transferor shall have the right to (x) designate Zero Balance Accounts, specific terminated merchant or co-branding participant accounts and randomly chosen removed accounts and to remove participations from the trust and (y) require the reassignment to it or its designee of all the Owner Trustee's and the Trust's right, title and interest in, to and under the Receivables then existing and thereafter created, all Interchange and Recoveries related thereto received after the Removal Date, 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 such the Accounts (the "Removed ------- Accounts") or Participation Interests conveyed to the Trust by such Transferor -------- (the "Removed Participation Interests") (unless otherwise set forth in the ------------------------------- applicable Participation Interest Supplement or Indenture Supplement) and designated for removal by the Transferor, upon satisfaction of the conditions in clauses (i) through (v) below; provided, however, that the conditions listed in clauses (iv) and (v) below need not be satisfied if the Removed Accounts (x) are Zero Balance Accounts or (y) relate to a terminated Merchant Affinity Agreement and the related Merchant merchant or co-branding participant or designee has elected to purchase the Receivables in such Removed Accounts:

Removal of Accounts and Participation Interests. (a) ----------------------------------------------- On any day of any Monthly Due 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 Recoveries related thereto received after the Removal Date, all monies due or to become due and all amounts received or receivable thereafter with respect thereto and all proceeds thereof in or with respect to such the Accounts specified in the Receivables Purchase Agreement (the "Removed Accounts") or Participation ---------------- Interests conveyed to the Trust by such Transferor (the "Removed Participation --------------------- Interests") (unless otherwise set forth in the applicable Participation Interest --------- Supplement or Indenture Supplement) and designated for removal by the Transferor, upon satisfaction of the conditions in clauses (i) through (v) below; provided, however, that the conditions listed in clauses (iv) and (v) below need not be satisfied if the Removed Accounts (x) are Zero Small Balance Accounts or (y) relate to a terminated Merchant Affinity Agreement and the related Merchant merchant or co-branding participant or designee has elected to purchase the Receivables in such Removed Accounts: