Common use of Variable Accumulation Period Clause in Contracts

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 23; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 23). The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank Greenwood on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 23; 24 provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 2324). The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank Greenwood on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.

Variable Accumulation Period. (a) If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank on behalf of the Holder of Seller, the Seller Certificate Rating Agencies and the Third Party Credit Enhancement Provider, to delay the commencement of the Controlled Accumulation PeriodPeriod and, if applicable, to delay or accelerate the accumulation of Class B principal, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 2319; provided, however, that the Controlled Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date; and provided, further, that the accumulation of Class B principal shall not commence more than three Distribution Dates prior to the Class B Expected Final Payment Date unless Standard & Poor's has confirmed in writing that it will not lower or withdraw its rating on any Class of any Series then outstanding as a result of such accumulation. Any such election by the Master Servicer shall be made no later than the first last day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 2319); provided, however, that the Servicer may elect to accelerate accumulation of Class B principal at any time, so long as such election is made no later than the last day of the Due Period related to the first Distribution Date on which a Class B principal deposit will be made. The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Controlled Accumulation Period and, if applicable, the delay or acceleration of the accumulation of Class B principal, would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date, a copy of which will have been provided to the Rating Agencies; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Class Controlled Accumulation Amount for each Class on each Distribution Date shall have been adjustedspecified; and (iii) the sum of the Class Controlled Accumulation Amounts so specified for each Class for each Distribution Date occurring on or prior to the applicable Class Expected Final Payment Date shall equal the applicable Class Initial Investor Interest.

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 23; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 23). The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that that, based on the payment rate and the availability of reallocated Principal Collections, the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank Greenwood on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 23; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 23). The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank Greenwood on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.

Variable Accumulation Period. If Notwithstanding anything to the Series Term Sheet for contrary in Section 4.02 of the Series established hereby so providesIndenture Supplement, the Master Servicer may electCalculation Agent on behalf of the Issuer shall, by written notice to the Indenture Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, Period for the Class A(2018-3) Notes and extend the length of the Revolving Perioddetermine a new Accumulation Commencement Date, subject to the conditions set forth in this Section 232.11; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Expected Maturity Date for the Class A Expected Final Payment DateA(2018-3) Notes. Any such election delay by the Master Servicer Calculation Agent on behalf of the Issuer shall be made no later than the last day of the Due Period immediately preceding the first day of the last scheduled first Due Period in the scheduled Accumulation Period (after giving effect to any prior delay in the commencement of the Revolving Period (including any prior extension of the Revolving Accumulation Period pursuant to this Section 232.11). The Master Servicer may make Calculation Agent on behalf of the Issuer shall cause such election only delay if the Calculation Agent determines in good faith that each of the following conditions are will be satisfied: (i) the Master Servicer shall have delivered Calculation Agent on behalf of the Issuer delivers to the Indenture Trustee a certificate to the effect that the Master Servicer Calculation Agent on behalf of the Issuer reasonably believes that that, based on the payment rate and the anticipated availability of Series Principal Amounts and Reallocated Principal Amounts, the delay in the commencement of the Accumulation Period would for the Class A(2018-3) Notes will not result in the Class Invested Amount with respect to any Class Tranche of the Series established hereby Notes not being paid in full on the relevant Class Expected Final Payment DateMaturity Date (as defined in the applicable Terms Document); (ii) such delay is permitted under the Rating Agencies Series 2007-CC Supplement or any other applicable agreement relating to any Additional Collateral Certificate; and (iii) the Accumulation Amount, the Accumulation Commencement Date and the Accumulation Period Length shall have advised the Master Servicer and Discover Bank been adjusted. The Calculation Agent on behalf of the Holder of Issuer shall not be required to obtain confirmation from the Seller Certificate applicable Note Rating Agencies that such election to delay in the commencement of the Accumulation Period would will not cause result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes. The Calculation Agent on behalf of the rating of any Class of any Series then outstanding Issuer shall provide written notice to be lowered or withdrawn; and (iii) the amount to be deposited each applicable Note Rating Agency in the Series Principal Funding Account in respect event that the commencement of the Accumulation Amount shall have been adjustedPeriod for the Class A(2018-3) Notes is delayed pursuant to this Section 2.11.

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank Greenwood on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 23; 24 provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 2324). The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank Greenwood on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.to

Variable Accumulation Period. If Notwithstanding anything to the Series Term Sheet for contrary in Section 4.02 of the Series established hereby so providesIndenture Supplement, the Master Servicer may electCalculation Agent on behalf of the Issuer shall, by written notice to the Indenture Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, Period for the Class A(2022-1) Notes and extend the length of the Revolving Perioddetermine a new Accumulation Commencement Date, subject to the conditions set forth in this Section 232.11; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Expected Maturity Date for the Class A Expected Final Payment A(2022-1) Notes. To the extent that the Calculation Agent has previously delayed the commencement of the Accumulation Commencement Date pursuant to this Section 2.11, the Calculation Agent may subsequently accelerate the commencement of the Accumulation Commencement Date, subject to the conditions set forth in this Section 2.11. Any such election adjustments by the Master Servicer Calculation Agent on behalf of the Issuer to the Accumulation Commencement Date shall be made no later than the earlier to occur of (x) the first day of the last scheduled initial Due Period of the Revolving proposed Accumulation Period (including any after giving effect to the current adjustment and all prior extension adjustments to the commencement of the Revolving Accumulation Period pursuant to this Section 232.11) and (y) the last day of the Due Period immediately preceding the first Due Period of the currently scheduled Accumulation Period (after giving effect to any prior adjustments in the commencement of the Accumulation Period pursuant to this Section 2.11). The Master Servicer may make Calculation Agent on behalf of the Issuer shall cause any such election only adjustment if the Calculation Agent determines in good faith that each of the following conditions are will be satisfied: (i) the Master Servicer shall have delivered Calculation Agent on behalf of the Issuer delivers to the Indenture Trustee a certificate to the effect that the Master Servicer Calculation Agent on behalf of the Issuer reasonably believes that that, based on the delay in payment rate and the anticipated availability of Series Principal Amounts and Reallocated Principal Amounts, (x) the adjustment to the commencement of the Accumulation Period would for the Class A(2022-1) Notes will not result in the Class Invested Amount with respect to any Class Tranche of the Series established hereby Notes not being paid in full on the relevant Class Expected Final Payment Date; Maturity Date (iias defined in the applicable Terms Document) the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf and, (y) if such adjustment is an acceleration of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would for the Class A(2022-1) Notes, the resulting Accumulation Period for the Class A(2022-1) Notes is the shortest Accumulation Period for the Class A (2022-1) Notes that will not cause result in any Tranche of Notes not being paid in full on the rating of relevant Expected Maturity Date (as defined in the applicable Terms Document); (ii) such adjustment is permitted under the Series 2007-CC Supplement or any Class of other applicable agreement relating to any Series then outstanding to be lowered or withdrawnAdditional Collateral Certificate; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of Accumulation Amount, the Accumulation Amount Commencement Date and the Accumulation Period Length shall have been adjusted. The Calculation Agent on behalf of the Issuer shall not be required to obtain confirmation from the applicable Note Rating Agencies that any such adjustment in the commencement of the Accumulation Period will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes. The Calculation Agent on behalf of the Issuer shall provide written notice to each applicable Note Rating Agency in the event that the commencement of the Accumulation Period for the Class A(2022-1) Notes is adjusted pursuant to this Section 2.11.

Variable Accumulation Period. If Notwithstanding anything to the Series Term Sheet for contrary in Section 4.02 of the Series established hereby so providesIndenture Supplement, the Master Servicer may electCalculation Agent on behalf of the Issuer shall, by written notice to the Indenture Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, Period for the Class B(2017-2) Notes and extend the length of the Revolving Perioddetermine a new Accumulation Commencement Date, subject to the conditions set forth in this Section 232.13; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Expected Maturity Date for the Class A Expected Final Payment DateB(2017-2) Notes. Any such election delay by the Master Servicer Calculation Agent on behalf of the Issuer shall be made no later than the first last day of the last scheduled Due Period immediately preceding the first Due Period in the scheduled Accumulation Period (after giving effect to any prior delay in the commencement of the Revolving Period (including any prior extension of the Revolving Accumulation Period pursuant to this Section 232.13). The Master Servicer may make Calculation Agent on behalf of the Issuer shall cause such election only delay if the Calculation Agent determines in good faith that each of the following conditions are will be satisfied: (i) the Master Servicer shall have delivered Calculation Agent on behalf of the Issuer delivers to the Indenture Trustee a certificate to the effect that the Master Servicer Calculation Agent on behalf of the Issuer reasonably believes that that, based on the payment rate and the anticipated availability of Series Principal Amounts and Reallocated Principal Amounts, the delay in the commencement of the Accumulation Period would for the Class B(2017-2) Notes will not result in the Class Invested Amount with respect to any Class Tranche of the Series established hereby Notes not being paid in full on the relevant Class Expected Final Payment Maturity Date; (ii) such delay is permitted under the Rating Agencies Series 2007-CC Series Supplement or any other applicable agreement relating to any Additional Collateral Certificate; and (iii) the Accumulation Amount, the Accumulation Commencement Date and the Accumulation Period Length shall have advised the Master Servicer and Discover Bank been adjusted. The Calculation Agent on behalf of the Holder of Issuer shall provide written notice to each applicable Note Rating Agency in the Seller Certificate event that such election to delay the commencement of the Accumulation Period would not cause for the rating of any Class of any Series then outstanding B(2017-2) Notes is delayed pursuant to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjustedthis Section 2.13.

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 23; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 23). The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.be

Variable Accumulation Period. If Notwithstanding anything to the Series Term Sheet for contrary in Section 4.02 of the Series established hereby so providesIndenture Supplement, the Master Servicer may electCalculation Agent on behalf of the Issuer shall, by written notice to the Indenture Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, Period for the Class C(2017-2) Notes and extend the length of the Revolving Perioddetermine a new Accumulation Commencement Date, subject to the conditions set forth in this Section 232.13; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Expected Maturity Date for the Class A Expected Final Payment DateC(2017-2) Notes. Any such election delay by the Master Servicer Calculation Agent on behalf of the Issuer shall be made no later than the first last day of the last scheduled Due Period immediately preceding the first Due Period in the scheduled Accumulation Period (after giving effect to any prior delay in the commencement of the Revolving Period (including any prior extension of the Revolving Accumulation Period pursuant to this Section 232.13). The Master Servicer may make Calculation Agent on behalf of the Issuer shall cause such election only delay if the Calculation Agent determines in good faith that each of the following conditions are will be satisfied: (i) the Master Servicer shall have delivered Calculation Agent on behalf of the Issuer delivers to the Indenture Trustee a certificate to the effect that the Master Servicer Calculation Agent on behalf of the Issuer reasonably believes that that, based on the payment rate and the anticipated availability of Series Principal Amounts and Reallocated Principal Amounts, the delay in the commencement of the Accumulation Period would for the Class C(2017-2) Notes will not result in the Class Invested Amount with respect to any Class Tranche of the Series established hereby Notes not being paid in full on the relevant Class Expected Final Payment Maturity Date; (ii) such delay is permitted under the Rating Agencies Series 2007-CC Series Supplement or any other applicable agreement relating to any Additional Collateral Certificate; and (iii) the Accumulation Amount, the Accumulation Commencement Date and the Accumulation Period Length shall have advised the Master Servicer and Discover Bank been adjusted. The Calculation Agent on behalf of the Holder of Issuer shall provide written notice to each applicable Note Rating Agency in the Seller Certificate event that such election to delay the commencement of the Accumulation Period would not cause for the rating of any Class of any Series then outstanding C(2017-2) Notes is delayed pursuant to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjustedthis Section 2.13.

Variable Accumulation Period. If Notwithstanding anything to the Series Term Sheet for contrary in Section 4.02 of the Series established hereby so providesIndenture Supplement, the Master Servicer may electCalculation Agent on behalf of the Issuer shall, by written notice to the Indenture Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, Period for the Class A(2016-1) Notes and extend the length of the Revolving Perioddetermine a new Accumulation Commencement Date, subject to the conditions set forth in this Section 232.11; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Expected Maturity Date for the Class A Expected Final Payment DateA(2016-1) Notes. Any such election delay by the Master Servicer Calculation Agent on behalf of the Issuer shall be made no later than the first day of the last scheduled Due Period immediately preceding the first Due Period in the Accumulation Period (after giving effect to any prior delay in the commencement of the Revolving Period (including any prior extension of the Revolving Accumulation Period pursuant to this Section 232.11). The Master Servicer may make Calculation Agent on behalf of the Issuer shall cause such election only delay if the Calculation Agent determines in good faith that each of the following conditions are will be satisfied: (i) the Master Servicer shall have delivered Calculation Agent on behalf of the Issuer delivers to the Indenture Trustee a certificate to the effect that the Master Servicer Calculation Agent on behalf of the Issuer reasonably believes that that, based on the payment rate and the anticipated availability of Series Principal Amounts and Reallocated Principal Amounts, the delay in the commencement of the Accumulation Period would for the Class A(2016-1) Notes will not result in the Class Invested Amount with respect to any Class Tranche of the Series established hereby Notes not being paid in full on the relevant Class Expected Final Payment DateMaturity Date (as defined in the applicable Terms Document); (ii) such delay is permitted under the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf of the Holder of the Seller Certificate that such election Series 2007-CC Series Supplement or any other applicable agreement relating to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawnAdditional Collateral Certificate; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of Accumulation Amount, the Accumulation Amount Commencement Date and the Accumulation Period Length shall have been adjusted.been

Variable Accumulation Period. If Unless otherwise provided in the Series Term Sheet Terms Document for the Series established hereby so providesany Tranche of Notes, the Master Servicer may electCalculation Agent on behalf of the Issuer shall, by written notice to the Indenture Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, Period for any Tranche of Notes and extend the length of the Revolving Perioddetermine a new Accumulation Commencement Date, subject to the conditions set forth in this Section 234.02; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment DateMaturity Date for such Tranche. Any such election delay by the Master Servicer Calculation Agent on behalf of the Issuer shall be made no later than the first day of the last scheduled Due Period immediately preceding the first Due Period in the Accumulation Period (after giving effect to any prior delay in the commencement of the Revolving Period (including any prior extension of the Revolving Accumulation Period pursuant to this Section 234.02). The Master Servicer may make Calculation Agent on behalf of the Issuer shall cause such election only delay if the Calculation Agent determines in good faith that each of the following conditions are will be satisfied: (i) the Master Servicer shall have delivered Calculation Agent on behalf of the Issuer is able to deliver to the Indenture Trustee a certificate to the effect that the Master Servicer Calculation Agent on behalf of the Issuer reasonably believes that that, based on the payment rate and the anticipated availability of Series Principal Amounts and Reallocated Principal Amounts, the delay in the commencement of the Accumulation Period would for any Tranche of Notes of the DiscoverSeries will not result in the Class Invested Amount with respect to any Class Tranche of the Series established hereby Notes not being paid in full on the relevant Class Expected Final Payment DateMaturity Date (and the Calculation Agent shall deliver such certificate); (ii) such delay is permitted under the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf of the Holder of the Seller Certificate that such election Series 2007-CC Series Supplement or any other applicable agreement relating to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawnAdditional Collateral Certificate; and (iii) the amount to Rating Agency Condition shall be deposited in the Series Principal Funding Account in respect satisfied for all Tranches of Outstanding DiscoverSeries Notes; and (iv) the Accumulation Amount Amount, the Accumulation Commencement Date and the Accumulation Period Length shall have been adjusted.

Variable Accumulation Period. If Notwithstanding anything to the Series Term Sheet for contrary in Section 4.02 of the Series established hereby so providesIndenture Supplement, the Master Servicer may electCalculation Agent on behalf of the Issuer shall, by written notice to the Indenture Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, Period for the Class A(2021-1) Notes and extend the length of the Revolving Perioddetermine a new Accumulation Commencement Date, subject to the conditions set forth in this Section 232.11; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Expected Maturity Date for the Class A Expected Final Payment A(2021-1) Notes. To the extent that the Calculation Agent has previously delayed the commencement of the Accumulation Commencement Date pursuant to this Section 2.11, the Calculation Agent may subsequently accelerate the commencement of the Accumulation Commencement Date, subject to the conditions set forth in this Section 2.11. Any such election adjustments by the Master Servicer Calculation Agent on behalf of the Issuer to the Accumulation Commencement Date shall be made no later than the earlier to occur of (x) the first day of the last scheduled initial Due Period of the Revolving proposed Accumulation Period (including any after giving effect to the current adjustment and all prior extension adjustments to the commencement of the Revolving Accumulation Period pursuant to this Section 232.11) and (y) the last day of the Due Period immediately preceding the first Due Period of the currently scheduled Accumulation Period (after giving effect to any prior adjustments in the commencement of the Accumulation Period pursuant to this Section 2.11). The Master Servicer may make Calculation Agent on behalf of the Issuer shall cause any such election only adjustment if the Calculation Agent determines in good faith that each of the following conditions are will be satisfied: (i) the Master Servicer shall have delivered Calculation Agent on behalf of the Issuer delivers to the Indenture Trustee a certificate to the effect that the Master Servicer Calculation Agent on behalf of the Issuer reasonably believes that that, based on the delay in payment rate and the anticipated availability of Series Principal Amounts and Reallocated Principal Amounts, (x) the adjustment to the commencement of the Accumulation Period would for the Class A(2021-1) Notes will not result in the Class Invested Amount with respect to any Class Tranche of the Series established hereby Notes not being paid in full on the relevant Class Expected Final Payment Date; Maturity Date (iias defined in the applicable Terms Document) the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf and, (y) if such adjustment is an acceleration of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would for the Class A(2021-1) Notes, the resulting Accumulation Period for the Class A(2021-1) Notes is the shortest Accumulation Period for the Class A(2021-1) Notes that will not cause result in any Tranche of Notes not being paid in full on the rating of relevant Expected Maturity Date (as defined in the applicable Terms Document); (ii) such adjustment is permitted under the Series 2007-CC Supplement or any Class of other applicable agreement relating to any Series then outstanding to be lowered or withdrawnAdditional Collateral Certificate; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of Accumulation Amount, the Accumulation Amount Commencement Date and the Accumulation Period Length shall have been adjusted. The Calculation Agent on behalf of the Issuer shall not be required to obtain confirmation from the applicable Note Rating Agencies that any such adjustment in the commencement of the Accumulation Period will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes. The Calculation Agent on behalf of the Issuer shall provide written notice to each applicable Note Rating Agency in the event that the commencement of the Accumulation Period for the Class A(2021-1) Notes is adjusted pursuant to this Section 2.11.

Variable Accumulation Period. If Notwithstanding anything to the Series Term Sheet for contrary in Section 4.02 of the Series established hereby so providesIndenture Supplement, the Master Servicer may electCalculation Agent on behalf of the Issuer shall, by written notice to the Indenture Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, Period for the Class A(2016-4) Notes and extend the length of the Revolving Perioddetermine a new Accumulation Commencement Date, subject to the conditions set forth in this Section 232.11; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Expected Maturity Date for the Class A Expected Final Payment DateA(2016-4) Notes. Any such election delay by the Master Servicer Calculation Agent on behalf of the Issuer shall be made no later than the first day of the last scheduled Due Period immediately preceding the first Due Period in the Accumulation Period (after giving effect to any prior delay in the commencement of the Revolving Period (including any prior extension of the Revolving Accumulation Period pursuant to this Section 232.11). The Master Servicer may make Calculation Agent on behalf of the Issuer shall cause such election only delay if the Calculation Agent determines in good faith that each of the following conditions are will be satisfied: (i) the Master Servicer shall have delivered Calculation Agent on behalf of the Issuer delivers to the Indenture Trustee a certificate to the effect that the Master Servicer Calculation Agent on behalf of the Issuer reasonably believes that that, based on the payment rate and the anticipated availability of Series Principal Amounts and Reallocated Principal Amounts, the delay in the commencement of the Accumulation Period would for the Class A(2016-4) Notes will not result in the Class Invested Amount with respect to any Class Tranche of the Series established hereby Notes not being paid in full on the relevant Class Expected Final Payment DateMaturity Date (as defined in the applicable Terms Document); (ii) such delay is permitted under the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf of the Holder of the Seller Certificate that such election Series 2007-CC Series Supplement or any other applicable agreement relating to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawnAdditional Collateral Certificate; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of Accumulation Amount, the Accumulation Amount Commencement Date and the Accumulation Period Length shall have been adjusted.been

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank on Greexxxxx xx behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 23; 24 provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 2324). The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank on Greexxxxx xx behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 23; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 23). 55 The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 23; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 23). 54 The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.

Variable Accumulation Period. If Notwithstanding anything to the Series Term Sheet for contrary in Section 4.02 of the Series established hereby so providesIndenture Supplement, the Master Servicer may electCalculation Agent on behalf of the Issuer shall, by written notice to the Indenture Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, Period for the Class C(2011-2) Notes and extend the length of the Revolving Perioddetermine a new Accumulation Commencement Date, subject to the conditions set forth in this Section 232.13; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Expected Maturity Date for the Class A Expected Final Payment DateC(2011-2) Notes. Any such election delay by the Master Servicer Calculation Agent on behalf of the Issuer shall be made no later than the first day of the last scheduled Due Period immediately preceding the first Due Period in the Accumulation Period (after giving effect to any prior delay in the commencement of the Revolving Period (including any prior extension of the Revolving Accumulation Period pursuant to this Section 232.13). The Master Servicer may make Calculation Agent on behalf of the Issuer shall cause such election only delay if the Calculation Agent determines in good faith that each of the following conditions are will be satisfied: (i) the Master Servicer shall have delivered Calculation Agent on behalf of the Issuer delivers to the Indenture Trustee a certificate to the effect that the Master Servicer Calculation Agent on behalf of the Issuer reasonably believes that that, based on the payment rate and the anticipated availability of Series Principal Amounts and Reallocated Principal Amounts, the delay in the commencement of the Accumulation Period would for the Class C(2011-2) Notes will not result in the Class Invested Amount with respect to any Class Tranche of the Series established hereby Notes not being paid in full on the relevant Class Expected Final Payment Maturity Date; (ii) such delay is permitted under the Rating Agencies Series 2007-CC Series Supplement or any other applicable agreement relating to any Additional Collateral Certificate; and (iii) the Accumulation Amount, the Accumulation Commencement Date and the Accumulation Period Length shall have advised the Master Servicer and Discover Bank been adjusted. The Calculation Agent on behalf of the Holder of Issuer shall not be required to obtain confirmation from the Seller Certificate applicable Note Rating Agencies that such election to delay in the commencement of the Accumulation Period would will not cause result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes, unless at the rating time of any Class such delay there is a Tranche of any Series then outstanding Outstanding DiscoverSeries Notes which were issued prior to be lowered or withdrawn; January 1, 2009 and (iii) for which the amount to be deposited in the Series Principal Funding Account in respect commencement of the Accumulation Amount Period for such Tranche of Notes has already been delayed pursuant to Section 4.02 of the Indenture Supplement. If such confirmation from the applicable Note Rating Agency is not required, the Calculation Agent on behalf of the Issuer shall have been adjustedprovide written notice to each applicable Note Rating Agency in the event that the commencement of the Accumulation Period for the Class C(2011-2) Notes is delayed pursuant to this Section 2.13. [Remainder of page intentionally blank; signature page follows] Exhibit A Form of Class C Note See attached.

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank Greenwood on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 23; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 23). The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank Greenwood on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.be

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank Greenwood on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 23; 24 provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 2324). 66 The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank Greenwood on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 2320; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 2320). The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, 62 Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 23; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 23). The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.

Variable Accumulation Period. If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank Greenwood on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 2322; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date. Any such election by the Master Servicer shall be made no later than the first day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 2322). The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Accumulation Period would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank Greenwood on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Accumulation Amount shall have been adjusted.

Variable Accumulation Period. (a) If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement ProviderRating Agencies, to delay the commencement of the Controlled Accumulation PeriodPeriod and, if applicable, to delay or accelerate the accumulation of Class B principal, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 2319; provided, however, that the Controlled Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date; and provided, further, that the accumulation of Class B principal shall not commence more than three Distribution Dates prior to the Class B Expected Final Payment Date unless Standard & Poor's has confirmed in writing that it will not lower or withdraw its rating on any Class of any Series then outstanding as a result of such accumulation. Any such election by the Master Servicer shall be made no later than the first last day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 2319); provided, however, that the Servicer may elect to accelerate accumulation of Class B principal at any time, so long as such election is made no later than the last day of the Due Period related to the first Distribution Date on which a Class B principal deposit will be made. The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Controlled Accumulation Period and, if applicable, the delay or acceleration of the accumulation of Class B principal, would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date, a copy of which will have been provided to the Rating Agencies; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Class Controlled Accumulation Amount for each Class on each Distribution Date shall have been adjustedspecified; and (iii) the sum of the Class Controlled Accumulation Amounts so specified for each Class for each Distribution Date occurring on or prior to the applicable Class Expected Final Payment Date shall equal the applicable Class Initial Investor Interest.

Variable Accumulation Period. (a) If the Series Term Sheet for the Series established hereby so provides, the Master Servicer may elect, by written notice to the Trustee, Discover Bank on behalf of the Holder of Seller, the Seller Certificate Rating Agencies and the Third Party Credit Enhancement Provider, to delay the commencement of the Controlled Accumulation PeriodPeriod and, if applicable, to delay or accelerate the accumulation of Class B principal, and extend the length of the Revolving Period, subject to the conditions set forth in this Section 2319; provided, however, that the Controlled Accumulation Period shall commence no later than the first day of the Due Period related to the Class A Expected Final Payment Date; and provided, further, that the accumulation of Class B principal shall not commence more than three Distribution Dates prior to the Class B Expected Final Payment Date unless Standard & Poor's has confirmed in writing that it will not lower or withdraw its rating on any Class of any Series then outstanding as a result of such accumulation. Any such election by the Master Servicer shall be made no later than the first last day of the last scheduled Due Period of the Revolving Period (including any prior extension of the Revolving Period pursuant to this Section 2319); provided, however, that the Servicer may elect to accelerate accumulation of Class B principal at any time, so long as such election is made no later than the last day of the Due Period related to the first Distribution Date on which a Class B principal deposit will be made. The Master Servicer may make such election only if the following conditions are satisfied: (i) the Master Servicer shall have delivered to the Trustee a certificate to the effect that the Master Servicer reasonably believes that the delay in the commencement of the Controlled Accumulation Period and, if applicable, the delay or acceleration of the accumulation of Class B principal, would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date, a copy of which will have been provided to the Rating Agencies; (ii) the Rating Agencies shall have advised the Master Servicer and Discover Bank on behalf of the Holder of the Seller Certificate that such election to delay the commencement of the Accumulation Period would not cause the rating of any Class of any Series then outstanding to be lowered or withdrawn; and (iii) the amount to be deposited in the Series Principal Funding Account in respect of the Class Controlled Accumulation Amount for each Class on each Distribution Date shall have been adjustedspecified; and (iii) the sum of the Class Controlled Accumulation Amounts so specified for each Class for each Distribution Date occurring on or prior to the applicable Class Expected Final Payment Date shall equal the applicable Class Initial Investor Interest. (b) If, on or prior to the date on which the Servicer elects to delay the commencement of the Controlled Accumulation Period and, if applicable, the accumulation of Class B principal, SRFG has entered into a commitment to sell a new Series to one or more third parties, the Servicer may consider the issuance of such new Series and the availability of proceeds therefrom in delivering the certificate required pursuant to subsection (a)(i) above; provided, however, that the Servicer shall only consider such commitment in delivering such certificate if the following conditions are satisfied: (i) the Servicer has no reason to believe that the conditions to issue a new Series set forth in Section 6.07 will not be able to be satisfied at the time such new Series is scheduled to be sold pursuant to the commitment; (ii) each of the Rating Agencies has confirmed in writing that it will not lower or withdraw its ratings of any Class of Investor Certificates of the Series established hereby if the Servicer relies on such commitment to issue such certificate; (iii) the commitment requires the applicable third parties to purchase the new Series, or the applicable Investor Certificates thereof, no later than the Class A Expected Final Payment Date, subject to reasonable closing conditions; and (iv) the Seller has agreed in writing to deposit a specified amount of proceeds from such sale into the Series Principal Funding Account for the Series established hereby on the date such proceeds are received. (c) If the Servicer has elected to delay the commencement of the Controlled Accumulation Period, or, if applicable, to delay or accelerate the accumulation of Class B principal, the Seller shall not be permitted to require reassignment to it of Receivables from the Trust pursuant to Section 2.09 of the Pooling and Servicing Agreement or to terminate any commitment relied on by the Servicer pursuant to subsection (b) above unless the Servicer shall have delivered to the Trustee a certificate to the effect that the Servicer reasonably believes that the reassignment of the Receivables or termination of such commitment would not result in the Class Invested Amount with respect to any Class of the Series established hereby not being paid in full on the relevant Class Expected Final Payment Date.

Variable Accumulation Period. If Notwithstanding anything to the Series Term Sheet for contrary in Section 4.02 of the Series established hereby so providesIndenture Supplement, the Master Servicer may electCalculation Agent on behalf of the Issuer shall, by written notice to the Indenture Trustee, Discover Bank on behalf of the Holder of the Seller Certificate and the Credit Enhancement Provider, to delay the commencement of the Accumulation Period, Period for the Class C(2011-2) Notes and extend the length of the Revolving Perioddetermine a new Accumulation Commencement Date, subject to the conditions set forth in this Section 232.13; provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Expected Maturity Date for the Class A Expected Final Payment DateC(2011-2) Notes. Any such election delay by the Master Servicer Calculation Agent on behalf of the Issuer shall be made no later than the first day of the last scheduled Due Period immediately preceding the first Due Period in the Accumulation Period (after giving effect to any prior delay in the commencement of the Revolving Period (including any prior extension of the Revolving Accumulation Period pursuant to this Section 232.13). The Master Servicer may make Calculation Agent on behalf of the Issuer shall cause such election only delay if the Calculation Agent determines in good faith that each of the following conditions are will be satisfied: (i) the Master Servicer shall have delivered Calculation Agent on behalf of the Issuer delivers to the Indenture Trustee a certificate to the effect that the Master Servicer Calculation Agent on behalf of the Issuer reasonably believes that that, based on the payment rate and the anticipated availability of Series Principal Amounts and Reallocated Principal Amounts, the delay in the commencement of the Accumulation Period would for the Class C(2011-2) Notes will not result in the Class Invested Amount with respect to any Class Tranche of the Series established hereby Notes not being paid in full on the relevant Class Expected Final Payment Maturity Date; (ii) such delay is permitted under the Rating Agencies Series 2007-CC Series Supplement or any other applicable agreement relating to any Additional Collateral Certificate; and (iii) the Accumulation Amount, the Accumulation Commencement Date and the Accumulation Period Length shall have advised the Master Servicer and Discover Bank been adjusted. The Calculation Agent on behalf of the Holder of Issuer shall not be required to obtain confirmation from the Seller Certificate applicable Note Rating Agencies that such election to delay in the commencement of the Accumulation Period would will not cause result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes, unless at the rating time of any Class such delay there is a Tranche of any Series then outstanding Outstanding DiscoverSeries Notes which were issued prior to be lowered or withdrawn; January 1, 2009 and (iii) for which the amount to be deposited in the Series Principal Funding Account in respect commencement of the Accumulation Amount Period for such Tranche of Notes has already been delayed pursuant to Section 4.02 of the Indenture Supplement. If such confirmation from the applicable Note Rating Agency is not required, the Calculation Agent on behalf of the Issuer shall have been adjustedprovide written notice to each applicable Note Rating Agency in the event that the commencement of the Accumulation Period for the Class C(2011-2) Notes is delayed pursuant to this Section 2.13.