Credit Card Assets definition

Credit Card Assets is defined in SECTION 7.
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Credit Card Assets means collectively those assets described in clauses
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Credit Card Assets. Subject to the next sentence, all of Sellers' right, title and interest at the Closing Date in and to the following assets, properties and rights: (i) the Account Assets; (ii) the Books and Records; (iii) the Consumable Inventory; (iv) the Securitization Assets; and (v) all claims, causes of action and suits which Sellers have or may have against third parties in connection with the foregoing assets or the Assumed Liabilities. The Credit Card Assets do not include the Excluded Assets.
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Examples of Credit Card Assets in a sentence

  • Each Seller has had at all times all Authorizations required to conduct the Credit Card Business and has conducted the Credit Card Business and has owned and operated each of the Credit Card Assets at all times in compliance in all material respects with all such Authorizations.

  • Upon the Banks' purchase of the Credit Card Assets and ADS' purchase of the Equipment, all of the Sellers' right, title and interest therein shall be transferred to the Buyers as provided in Section 2.1 of this Agreement.

  • Each Seller has good and valid title to, or a valid --------------- leasehold interest in, the Credit Card Assets (other than the Accounts and Account Receivables and the Real Property, which are provided for in Sections 4.3(a) and 4.1(g), respectively) which it is conveying hereunder, free and clear of all Liens other than Permitted Liens.

  • Sellers and Household Bank agree that the Purchase Price and the amount of the Assumed Liabilities shall be allocated for U.S. federal income tax purposes among the Credit Card Assets in accordance with Section 1060 of the Code and the regulations promulgated thereunder as set forth in Schedule 3.5, which schedule requires that the fair market value of the Account Receivables, Securitization Receivables and NBGL Receivables be determined by an Independent Appraiser in accordance with Section 8.6.

  • Each Seller has had at all times all Authorizations required to conduct the Credit Card Business as conducted by it and has conducted the Credit Card Business and has owned and operated each of the Credit Card Assets owned by it at all times in compliance in all material respects with all such Authorizations.

  • The Assignment and ------------------------------------ Assumption Agreements in substantially the form of Exhibit A hereto to be executed and delivered at the Closing pursuant to Sections 3.2(a) and 3.3(a) of this Agreement to convey to Buyers all of the Sellers' rights, title and interests in and to the Credit Card Assets and pursuant to which Buyers shall assume the Assumed Liabilities.

  • To the Sellers' knowledge, no claim has been made with respect to the Credit Card Business by a taxing authority in a jurisdiction where a Seller does not file Tax or Income Tax Returns with respect to the Credit Card Assets or the Credit Card Business to the effect that such Seller is or may be subject to taxation by that jurisdiction.

  • Wintering birds make use of the cover and the lake above the dam, and migrants fill the trees during spring.

  • The Buyers shall have the right to file on or after the Closing Date any financing statements that the Buyers reasonably determine are necessary or appropriate to fully preserve, maintain and protect the interest of the Buyers in the Credit Card Assets and the proceeds thereof, and any financing statement shall be in a form acceptable to both the Buyers and the Sellers.

  • Except as set forth on Schedule 4.1(h), there are no actions, suits, claims, hearings, investigations or proceedings pending or, to Sellers' knowledge, threatened against any Seller relating to or affecting the Credit Card Assets, the Assumed Liabilities or the Credit Card Business that if decided against any Seller would have a Seller Material Adverse Effect or that would materially impair the ability of the Parties to consummate this Agreement or any agreements contemplated hereby.


More Definitions of Credit Card Assets

Credit Card Assets has the meaning assigned to such term in Section 7(a)(i).
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Credit Card Assets means the assets set forth on Schedule 1.1.4 attached hereto.
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Credit Card Assets means all of the Sellers' right, title and interest at the Closing Date in and to the assets, properties and rights used exclusively in the Credit Card Business except the Equipment as conducted at the Closing Date including, but not limited to: (i) the Account Assets; (ii) the Books and Records; (iii) the Contracts except those related to the Equipment; and (iv) all claims, causes of action and suits which the Sellers have or may have against third parties in connection with the foregoing assets or the Bank Assumed Liabilities.
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Credit Card Assets means collectively those assets described in clauses 2.1 and 2.2 to be sold and purchased under this Agreement and includes (where the context permits) each or any of them;
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Credit Card Assets has the meaning set forth in Section 4(a)(i).
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Related to Credit Card Assets

  • Credit Card Account means the Account of the Cardmember opened with Maybank for the purpose of this Agreement;

  • Credit Card Issuer means any Person (other than a Loan Party) who issues or whose members issue credit cards or debit cards, including, without limitation, MasterCard or VISA bank credit or debit cards or other bank credit or debit cards issued through MasterCard International, Inc., Visa, U.S.A., Inc. or Visa International and American Express, Discover, Diners Club, Xxxxx Xxxxxxx and other non-bank credit or debit cards, including, without limitation, credit or debit cards issued by or through American Express Travel Related Services Company, Inc. or Discover Financial Services, Inc.

  • Credit Card Receivables means each “payment intangible” (as defined in the UCC) together with all income, payments and proceeds thereof, owed by a Credit Card Issuer or Credit Card Processor to a Loan Party resulting from charges by a customer of a Loan Party on credit or debit cards issued by such Credit Card Issuer in connection with the sale of goods by a Loan Party, or services performed by a Loan Party, in each case in the ordinary course of its business.

  • Credit Card Agreements means all agreements now or hereafter entered into by any Borrower or for the benefit of any Borrower, in each case with any Credit Card Issuer or any Credit Card Processor with respect to sales transactions involving credit card or debit card purchases, including, but not limited to, the agreements set forth on Schedule 5.21(b) hereto.

  • Credit Card Agreement means the open-end revolving credit agreement between a Cardholder and Bank governing the Account and Cardholder’s use of the Credit Card, together with any modifications or amendments which may be made to such agreement.

  • Credit Card Processor means any servicing or processing agent or any factor or financial intermediary who facilitates, services, processes or manages the credit authorization, billing transfer and/or payment procedures with respect to any Loan Party’s sales transactions involving credit card or debit card purchases by customers using credit cards or debit cards issued by any Credit Card Issuer.

  • Credit card means any card, plate, coupon book, or other credit device ex- isting for the purpose of obtaining money, property, labor, or services on credit.

  • Card Account means the account maintained with the Bank in respect of the card;

  • Credit Card Advance Rate means 90%.

  • Credit Card Guidelines means the respective policies and procedures of the Account Owner, as the case may be, as such policies and procedures may be amended from time to time, (a) relating to the operation of its credit card business, which generally are applicable to its portfolio of revolving credit card accounts and in each case which are consistent with prudent practice, including the policies and procedures for determining the creditworthiness of credit card customers and the extension of credit to credit card customers, and (b) relating to the maintenance of revolving credit card accounts and collection of credit card receivables.

  • Private label credit card means any charge card, credit card, or other instrument serving a similar purpose that carries, refers to, or is branded with the name or logo of a vendor and that can only be used for purchases from the vendor.

  • Credit Card Notification has the meaning assigned to such term in Section 5.11.

  • Credit Card Notifications has the meaning provided in Section 6.13(a)(i).

  • Card Issuer means the financial institution or company which has provided a Card to a Cardholder.

  • Eligible Credit Card Receivables means at the time of any determination thereof, each Credit Card Receivable that satisfies the following criteria at the time of creation and continues to meet the same at the time of such determination: such Credit Card Receivable (i) has been earned by performance and represents the bona fide amounts due to a Borrower from a credit card payment processor and/or credit card issuer, and in each case originated in the ordinary course of business of such Borrower, and (ii) is not ineligible for inclusion in the calculation of the Borrowing Base pursuant to any of clauses (a) through (k) below. Without limiting the foregoing, to qualify as an Eligible Credit Card Receivable, an Account shall indicate no Person other than a Borrower as payee or remittance party. In determining the amount to be so included, the face amount of an Account shall be reduced by, without duplication, to the extent not reflected in such face amount, (i) the amount of all accrued and actual discounts, claims, credits or credits pending, promotional program allowances, price adjustments, finance charges or other allowances (including any amount that a Borrower may be obligated to rebate to a customer, a credit card payment processor, or credit card issuer pursuant to the terms of any agreement or understanding (written or oral)) and (ii) the aggregate amount of all cash received in respect of such Account but not yet applied by the Loan Parties to reduce the amount of such Credit Card Receivable. Any Credit Card Receivables meeting the foregoing criteria shall be deemed Eligible Credit Card Receivables but only as long as such Credit Card Receivable is not included within any of the following categories, in which case such Credit Card Receivable shall not constitute an Eligible Credit Card Receivable:

  • Eligible Accounts Receivable means, at any time, the invoice value of Canadian Dollar and U.S. Dollar Accounts Receivable (net of all goods and services Taxes, harmonized sales Taxes and other sales Taxes and net of any credit balance, returns, trade discounts, unapplied cash, unbilled amount or retention or finance charges) owing to the Restricted Parties (or any of them) arising under any sales of Inventory from the operation of the business of the Restricted Parties made by the Restricted Parties to any Person in the ordinary course of business, which invoice value shall be periodically reported to the Lender in the form of Schedule “B” to be delivered (i) at the time of each Drawdown during the Covenant Holiday Period, if at the time of such Drawdown there is no principal amount outstanding under any Prime Rate Loans, Base Rate Loans, CDOR Loans, and there are no outstanding Bankers’ Acceptances or Letters of Credit (other than Letters of Credit issued under the Credit Facility that are fully secured with cash collateral provided by a Restricted Party to the Lender), and (ii) within fifteen days after the end of each calendar month during the Covenant Holiday Period, if during such month any Prime Rate Loans, Base Rate Loans, CDOR Loans, Bankers’ Acceptances or Letters of Credit (other than Letters of Credit issued under the Credit Facility that are fully secured with cash collateral provided by a Restricted Party to the Lender) are outstanding; provided that no Account Receivable shall be deemed an Eligible Account Receivable unless each of the following statements is accurate and complete (and by including such Account Receivable in any calculation of the Borrowing Base, the Borrower shall be deemed to represent and warrant to the Lender the accuracy and completeness of such statements):

  • Lockbox Accounts means the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • Accounts Receivable Subsidiary means one Unrestricted Subsidiary of the Company specifically designated as an Accounts Receivable Subsidiary for the purpose of financing the Company’s accounts receivable and provided that any such designation shall not be deemed to prohibit the Company from financing accounts receivable through any other entity, including, without limitation, any other Unrestricted Subsidiary.

  • Locked Box Accounts means the unaudited accounts of the Group, consisting of a balance sheet as at the Locked Box Date in the Agreed Form;

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

  • Eligible Accounts means Accounts which arise in the ordinary course of Borrower’s business that meet all Borrower’s representations and warranties in Section 5.3. Bank reserves the right at any time after the Effective Date to adjust any of the criteria set forth below and to establish new criteria in its good faith business judgment. Unless Bank otherwise agrees in writing, Eligible Accounts shall not include:

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Excluded Accounts means any deposit account or securities account used exclusively as (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) escrow, fiduciary or trust accounts, (d) zero balance accounts and (e) the funds or other property held in or maintained in any such account identified in clauses (a) through (d).

  • Designated Accounts means any and all unsecured credit facilities (including without limitation unsecured card or non-card credit facility) that you have with the Participating FIs and excludes joint accounts, any renovation loan, education loan, credit facility granted for businesses or business purposes and such other credit facility that is excluded under the MAS regulations relating to unsecured credit facilities to individuals.