Common use of Removal of Accounts Clause in Contracts

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. (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 TrustIssuing Entity, then Chase USA JPMCB may, but shall not be obligated to, designate such Receivables from the Removed Accounts for reassignment from Chase Card Funding. (b) Chase USA JPMCB 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 JPMCB shall have delivered to Chase Card Funding for execution, a written assignment in substantially the form of Exhibit B (the “Reassignment”) and Chase USA JPMCB shall have, within five (5) Business Days after the Removal Date, or as otherwise agreed upon between Chase USA JPMCB 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 JPMCB (in the form of a computer file, microfiche list, CD-ROM file or such other form as is agreed upon between Chase USA JPMCB 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 USAJPMCB, and the Receivables from the Removed Accounts shall no longer constitute a part of the Chase Card Funding Assets.