Common use of Reporting and Accounting Treatment Clause in Contracts

Reporting and Accounting Treatment. For reporting and accounting purposes, and in its books of account and records, the Issuer will treat each transfer of Receivables pursuant to the Receivables Contribution Agreement as an absolute sale and assignment of Midland Credit Management, Inc.'s full right, title and ownership interest in each such Receivable and the Issuer has not in any other manner accounted for or treated the transactions.