Securitization; Participation. Bank shall have the right, and nothing herein shall prohibit Bank, from selling, exchanging, securitizing, pledging or participating the Cardholder Indebtedness or any part thereof, by itself or as part of a larger offering, at any time and Bank may provide associated Cardholder Data to a prospective purchaser subject to such prospective purchaser executing a customary confidentiality agreement; provided, however, that (i) such sale, exchange, securitization, pledge or participation shall not affect Company’s rights or Bank’s obligations hereunder, (ii) Company hereby agrees to provide data to support any such sale, exchange, securitization, pledge or participation to the extent such data is available, (iii) Bank shall pay any costs or expenses incurred by Company to support any such sale, exchange, securitization, pledge or participation, and (iv) Bank shall not sell, exchange, securitize, pledge or participate the Cardholder Indebtedness in any manner that would not permit such arrangement to be unwound or not allow for the removal or substitution of Program Assets in order to permit Company to exercise its rights hereunder to purchase the Program Assets pursuant to Section 15.2. Company agrees to use reasonable efforts without being required to incur any out of pocket costs to provide Bank with such information and to execute and deliver such documents as may be reasonably requested by Bank with respect to any such transaction.
Securitization; Participation. Any rights to purchase the Accounts which Retailers may have hereunder shall be subject to Bank's right to securitize or participate the Accounts and Indebtedness. Purchase rights shall be available to Retailers only with respect to Accounts and Indebtedness owned by Bank at the time Retailers elect to exercise their option to purchase pursuant to Section 11.03 hereof.
Securitization; Participation. Bank shall have the right to securitize, pledge or participate the Cardholder Indebtedness or any part thereof by itself or as part of a larger offering at any time, in such a manner that allows Bank to obtain cash flows representing all or most of the economic benefits of owning such Cardholder Indebtedness. Such securitization, pledge or participation shall not affect Kohl’s rights or Bank’s obligations hereunder. Bank shall not securitize, pledge or participate the Cardholder Indebtedness in any manner that may encumber any of Kohl’s rights hereunder to purchase the Program Assets. All uses of the Kohl’s Licensed Marks in any securitization document shall be made in accordance with Section 10.1 and with the prior written approval of Kohl’s.
Securitization; Participation. (a) Bank may securitize or participate the Accounts and related Indebtedness subject to any rights which Retailers may have hereunder, including without limitation, Retailers’ right to purchase the Accounts pursuant to Section 11.03.
Securitization; Participation. MWCC shall have the right, to the extent of its interest therein, to securitize, participate or otherwise finance or refinance Accounts, Indebtedness and/or any legal or beneficial interest therein, including (without prejudice to the generality of the foregoing) the right to vest in any Person through which MWCC elects to securitize, participate, finance or refinance the Accounts and Indebtedness as aforesaid such rights and obligations in connection with the administration of the Accounts and Indebtedness as shall be customarily vested in such Persons for such purposes or as MWCC and/or MWCC Assignees shall reasonably require or deem necessary for the purpose of effecting the aforesaid securitization, participation, financing or refinancing. The parties also recognize that certain provisions in SECTION 15.2 require MWCC to sell Accounts and/or service facilities to MW. SECTION 15.2 is to be read so as to be in harmony with the rights of and obligations to third parties in connection with financings described in the first sentence hereof. Notwithstanding any of the foregoing, MWCC shall maintain MW in substantially the same financial position as though MW's rights under or as a result of SECTION 15.2 were not affected by any securitization, participation, financing or refinancing recognizing the obligation of the parties to minimize any adverse effect on MW.
Securitization; Participation. (a) Bank shall have the right to securitize the Cardholder Indebtedness or any part thereof by itself or as part of a larger offering at any time. Such securitization shall not affect Dillard's rights or Bank's obligations hereunder, including with respect to customer service, payment processing or collections. Bank shall not securitize the Cardholder Indebtedness in any manner that may encumber the right of Dillard's, or its Nominated Purchaser, to purchase any of the Program Assets upon termination of this Agreement. To the extent any of Dillard's Licensed Marks are used in any securitization documents, such marks will not be used in a way that adversely affects Dillard's or the Dillard's Licensed Marks.
Securitization; Participation. Bank shall have the right to securitize, pledge or participate the Cardholder Indebtedness or any part thereof by itself or as part of a larger offering at any time, in such a manner that allows Bank to 4873-5713-2568v.1 0117281-000001 obtain cash flows representing all or most of the economic benefits of owning such Cardholder Indebtedness. Such securitization, pledge or participation shall not affect Kohl’s rights or Bank’s obligations hereunder. Bank shall not securitize, pledge or participate the Cardholder Indebtedness in any manner that may encumber any of Kohl’s rights hereunder to purchase the Program Assets. All uses of the Kohl’s Licensed Marks in any securitization document shall be made in accordance with Section 10.1 and with the prior written approval of Kohl’s.
Securitization; Participation. Mortgagee reserves the right at any time during the term of the Indebtedness and in its sole and absolute discretion to effect a so-called securitization of (or to sell a participation interest in) the Indebtedness in such manner and on such terms and conditions as Mortgagee shall deem to be appropriate in its sole and absolute discretion and with such domestic or foreign banks, insurance companies, pension funds, trusts or other institutional lenders or other persons, parties or investors (including, but not limited to, grantor trusts, owner trusts, special purpose corporations, real estate mortgage investment conduits, real estate investment trusts or other similar or comparable investment vehicles) as may be selected by Mortgagee in its sole and absolute discretion.
Securitization; Participation. Bank shall not sell, securitize, pledge or participate the Cardholder Indebtedness unless such sale, exchange, securitization, pledge or participation does not affect Company’s rights or Bank’s ability to satisfy its obligations hereunder, including by requiring consent or approval of any third party for Bank to reacquire all right, title and interest in and to such Cardholder Indebtedness and release any lien thereon, or otherwise encumber or impair in any way any of Company’s rights hereunder to purchase the Program Assets.
Securitization; Participation. Bank shall have the right to securitize, pledge or participate the Cardholder Indebtedness or any part thereof by itself or as part of a larger offering at any time, in such a manner that allows Bank to obtain cash flows representing all or most of the economic benefits of owning such Cardholder Indebtedness. Such securitization, pledge or participation shall not affect Kohl’s rights or Bank’s obligations hereunder. Bank shall not securitize, pledge or participate the Cardholder Indebtedness in any manner that may be reasonably expected to encumber any of Kohl’s rights hereunder to purchase the Program Assets after the later of (i) the first eight (8) months following the Effective Date or (ii) the date as of which no more than ten percent (10%) of the Cardholder Indebtedness in existence as of the Effective Date remains outstanding. All uses of the Kohl’s Licensed Marks in any securitization document shall be made in accordance with Section 10.1 and with the prior written approval of Kohl’s.
