Dual Card Program definition

Dual Card Program means any arrangement in which Originator agrees to extend general purpose credit card accounts to customers of a Retailer, which accounts combine a private label credit line for use at the Retailer’s retail establishments or in its catalogue sales business and a general purpose credit line for use elsewhere.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Dual Card Program means the co-branded open-end revolving credit card program involving credit cards branded with the names of JCPenney and the Network established under this Agreement pursuant to which Bank shall extend credit for purchases from entities other than JCPenney and Authorized Entities who accept cards bearing the name of the Network while still extending credit for purchases from JCPenney and Authorized Entities without processing the credit card transactions through the Network and, accordingly, without subjecting JCPenney and Authorized Entities to the Network’s interchange fees in respect of such transactions. The term “Dual Card Program” includes the extension of credit by Bank to Cardholders of a Dual Card Account, ▇▇▇▇▇▇▇▇, collections, accounting between the parties and all aspects of the revolving credit plan contemplated herein.

Dual Card Program means a customized private label revolving credit program involving credit cards branded with the names of JCPenney and the Association pursuant to which Bank shall extend credit for purchases from entities other than JCPenney and other Authorized Entities who accept cards bearing the name of the Association while still extending credit for purchases from JCPenney and other Authorized Entities without processing the credit card transactions through the Association’s networks and, accordingly, without subjecting JCPenney and other Authorized Entities to the Association’s interchange fees in respect of such transactions.

Examples of Dual Card Program in a sentence

The provisions of Schedule 13 (The Dual Card Program) shall apply in respect of the Dual Card Program.
JCPenney and Bank desire to make certain changes to the Agreement, including (i) extending the current Initial Term of the Agreement, (ii) providing for certain payments from Bank to JCPenney, (iii) modifying the gain share provisions of the Agreement, (iv) modifying certain termination rights, (v) modifying the parties’ rights and obligations with respect to the Dual Card Program, and (vi) providing certain other changes to the rights and obligations of the parties.
In addition, prior to the first date on which credit card accounts arising in any Dual Card Program are designated as Accounts, the Rating Agency Condition must be satisfied with respect to such Dual Card Program, regardless of whether the Originator also maintains a Private Label Program for the related Retailer, the credit card accounts in which have been designated as Accounts.
Purchases under the Program shall constitute extensions of credit directly from Bank to customers of JCPenney, other Authorized Entities and/or, to the extent of Purchases under the Dual Card Program, other merchants.
At or before the first time that any accounts relating to a Dual Card Program are designated as Additional Accounts, Buyer and Seller shall agree whether the foregoing calculation will be performed separately for the Accounts in that Dual Card Program and for Accounts in the related Private Label Program.
Bank and JCPenney hereby agree to the following changes to the Agreement to modify the parties’ rights and obligations with respect to the Dual Card Program.

More Definitions of Dual Card Program

Dual Card Program includes the extension of credit by Bank to Cardholders of a Dual Card Account, ▇▇▇▇▇▇▇▇, collections, accounting between the parties and all aspects of the revolving credit plan contemplated herein.