Common use of Returns and Refinancings Clause in Contracts

Returns and Refinancings. The Seller may accept a return of Merchandise for full or partial credit to, or make an adjustment (including, without limitation, any adjustment resulting from the exercise of any Cash Option) in, the principal amount or finance or other charges accrued or payable with respect to the related Receivable and may refinance any Receivable in connection with the purchase of additional Merchandise or for other reasons, provided that, with respect to the related Receivables, such credit, adjustment or refinancing is made in accordance with the Credit and Collection Policies. The aggregate amount of all such credits, adjustments and refinancings made by the Seller in accordance with the Credit and Collection Policies shall be due and payable to the Purchaser on the next Business Day following the Date of Processing in respect thereof. The amounts due to the Purchaser pursuant to the preceding sentence shall be paid on the due date therefor by wire transfer of cash or other deposit of same day funds to the Collection Account.