Common use of Rights upon the Occurrence of an Insolvency Event Clause in Contracts

Rights upon the Occurrence of an Insolvency Event. If Chase USA shall consent to the appointment of a bankruptcy trustee or conservator or receiver or liquidator for the winding-up or liquidation of its affairs, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee or conservator or receiver or liquidator for the winding-up or liquidation of its affairs shall have been entered against Chase USA (an “Insolvency Event”), Chase USA shall on the day of such Insolvency Event (the “Appointment Day”) immediately cease to (a) transfer Principal Receivables or additional Collateral Certificates to Chase Card Funding and (b) increase any Invested Amount of a Collateral Certificate transferred to Chase Card Funding and shall promptly give notice to Chase Card Funding, the Owner Trustee, the Indenture Trustee and the Collateral Agent of such Insolvency Event. Notwithstanding any cessation of the transfer to Chase Card Funding of additional Principal Receivables, Finance Charge Receivables, whenever created, accrued in respect of Principal Receivables which have been transferred to Chase Card Funding shall continue to be a part of assets of Chase Card Funding, and Collections with respect thereto shall continue to be allocated to Chase Card Funding hereunder. [END OF ARTICLE V]

Rights upon the Occurrence of an Insolvency Event. If Chase USA the Transferor shall consent to the appointment of a bankruptcy trustee or conservator or receiver or liquidator for the winding-up or liquidation of its affairs, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee or conservator or receiver or liquidator for the winding-up or liquidation of its affairs shall have been entered against Chase USA the Transferor (an “Insolvency Event”), Chase USA the Transferor shall on the day of such Insolvency Event (the “Appointment Day”) immediately cease to (ai) transfer Principal Receivables or additional Collateral Certificates to Chase Card Funding the Trust and (bii) increase any Invested Amount of a Collateral Certificate transferred to Chase Card Funding the Trust by the Transferor and shall promptly give notice to Chase Card Funding, the Owner Trustee, the Indenture Trustee and the Collateral Agent of such Insolvency Event. Notwithstanding any cessation of the transfer to Chase Card Funding the Trust of additional Principal Receivables, Finance Charge Receivables, whenever created, accrued in respect of Principal Receivables which have been transferred to Chase Card Funding the Trust shall continue to be a part of assets of Chase Card Fundingthe Trust, and Collections with respect thereto shall continue to be allocated to Chase Card Funding hereunderNoteholders in accordance with the terms of the Indenture and each Indenture Supplement. [END OF ARTICLE VIX]

Rights upon the Occurrence of an Insolvency Event. If Chase USA any Transferor shall consent to the appointment of a bankruptcy trustee or conservator or receiver or liquidator for the winding-up or liquidation of its affairs, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee or conservator or receiver or liquidator for the winding-up or liquidation of its affairs shall have been entered against Chase USA such Transferor (an “"Insolvency Event”"), Chase USA each Transferor shall on the day of such Insolvency Event (the “"Appointment Day”") immediately cease to (ai) transfer Principal Receivables or additional Collateral Certificates to Chase Card Funding the Trust and (bii) increase any Invested Amount of a Collateral Certificate transferred to Chase Card Funding the Trust by such Transferor and shall promptly give notice to Chase Card Funding, the Owner Trustee, the Indenture Trustee and the applicable Collateral Agent of such Insolvency Event. Notwithstanding any cessation of the transfer to Chase Card Funding the Trust of additional Principal Receivables, Finance Charge Receivables, whenever created, accrued in respect of Principal Receivables which have been transferred to Chase Card Funding the Trust shall continue to be a part of assets of Chase Card Fundingthe Trust, and Collections with respect thereto shall continue to be allocated to Chase Card Funding hereunderNoteholders in accordance with the terms of the Indenture and each Indenture Supplement. [END OF ARTICLE VIX]

Rights upon the Occurrence of an Insolvency Event. If Chase USA any Transferor shall consent to the appointment of a bankruptcy trustee or conservator or receiver or liquidator for the winding-up or liquidation of its affairs, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee or conservator or receiver or liquidator for the winding-up or liquidation of its affairs shall have been entered against Chase USA such Transferor (an “Insolvency Event”), Chase USA each Transferor shall on the day of such Insolvency Event (the “Appointment Day”) immediately cease to (ai) transfer Principal Receivables or additional Collateral Certificates to Chase Card Funding the Trust and (bii) increase any Invested Amount of a Collateral Certificate transferred to Chase Card Funding the Trust by such Transferor and shall promptly give notice to Chase Card Funding, the Owner Trustee, the Indenture Trustee and the applicable Collateral Agent of such Insolvency Event. Notwithstanding any cessation of the transfer to Chase Card Funding the Trust of additional Principal Receivables, Finance Charge Receivables, whenever created, accrued in respect of Principal Receivables which have been transferred to Chase Card Funding the Trust shall continue to be a part of assets of Chase Card Fundingthe Trust, and Collections with respect thereto shall continue to be allocated to Chase Card Funding hereunderNoteholders in accordance with the terms of the Indenture and each Indenture Supplement. [END OF ARTICLE VIX]

Rights upon the Occurrence of an Insolvency Event. If Chase USA any Transferor shall consent to the appointment of a bankruptcy trustee or conservator or receiver or liquidator for the winding-up or liquidation of its affairs, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee or conservator or receiver or liquidator for the winding-up or liquidation of its affairs shall have been entered against Chase USA such Transferor (an “Insolvency Event”"INSOLVENCY EVENT"), Chase USA each Transferor shall on the day of such Insolvency Event (the “Appointment Day”"APPOINTMENT DAY") immediately cease to (ai) transfer Principal Receivables or additional Collateral Certificates to Chase Card Funding the Trust and (bii) increase any Invested Amount of a Collateral Certificate transferred to Chase Card Funding the Trust by such Transferor and shall promptly give notice to Chase Card Funding, the Owner Trustee, the Indenture Trustee and the applicable Collateral Agent of such Insolvency Event. Notwithstanding any cessation of the transfer to Chase Card Funding the Trust of additional Principal Receivables, Finance Charge Receivables, whenever created, accrued in respect of Principal Receivables which have been transferred to Chase Card Funding the Trust shall continue to be a part of assets of Chase Card Fundingthe Trust, and Collections with respect thereto shall continue to be allocated to Chase Card Funding hereunderNoteholders in accordance with the terms of the Indenture and each Indenture Supplement. [END OF ARTICLE VIX]