Retailer that has a New Portfolio with another Issuer Sample Clauses

Retailer that has a New Portfolio with another Issuer. If the New Portfolio is issued through an unaffiliated Person (other than the Bank or any of its Affiliates) then the terms set forth on Schedule 14.1(b) shall apply.
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Retailer that has a New Portfolio with another Issuer. If the New Portfolio is issued through an unaffiliated Person (other than the Bank or any of its Affiliates), (A) if the agreement governing such issuance relationship is not terminable at the election of the Company, the Bank may negotiate in good faith for the purchase of the New Portfolio from such unaffiliated issuer and (B) if such agreement is terminable in accordance with its terms, the Company shall grant the Bank the right (which shall be nonexclusive and may be extended to other Credit Card issuers on the same basis) to submit a bid to purchase the New Portfolio. Neither the Company nor such unaffiliated Person shall be under any obligation to accept such offer or to provide the Bank with any right to match any offer received by the Company or such unaffiliated Person from any third party, and in the case of clause (B) above, the Company may elect to (x) keep such New Portfolio, (y) offer such New Portfolio for sale to a third party, or (z) accept the offer made by the Bank. In the case of clause (A) above, in the event that the Bank is unsuccessful in its bid for the Credit Card portfolio within sixty (60) days, the Company shall have the right to continue to operate such Credit Card portfolio under the existing program agreement and upon expiration or termination thereof to renew such program agreement or to purchase and operate such retailer's Credit Card business itself or to engage a third party to do so. If the Company or any of its Subsidiaries, directly or with a third Person, acquires the New Portfolio pursuant to this provision, Section 2.2 shall not apply to such New Portfolio or to the associated acquired retail operations, including any growth thereof (including as a result of new Credit Cards by the retailer so acquired).

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