Periodic Finance Charges and Other Fees. The Seller hereby agrees that, except as otherwise required by any Requirement of Law, or as is deemed by the Seller to be necessary in order for the Seller to maintain its credit card business, based upon a good faith assessment by the Seller, in its sole discretion, of the nature of the competition in the credit card business, it shall not at any time reduce the Periodic Finance Charges assessed on any Receivable or other fees on any Account if, as a result of such reduction, the Seller's reasonable expectation of the Portfolio Yield as of such date would be less than the then Base Rate. SECTION 12.
Periodic Finance Charges and Other Fees. The Transferor --------------------------------------- hereby agrees that, except as otherwise required by any Requirement of Law, or as is deemed by the Transferor to be necessary in order for the Transferor to maintain its credit card business, based upon a good faith assessment by the Transferor, in its sole discretion, of the nature of the competition in the credit card business, it shall not at any time reduce the Periodic Finance Charges assessed on any Receivable or other fees on any Account if, as a result of such reduction, the Transferor's reasonable expectation of the Portfolio Yield as of such date would be less than the Base Rate.
Periodic Finance Charges and Other Fees. Except as otherwise required by any Requirement of Law, or as is deemed by the Seller, in its sole discretion, to be necessary or appropriate, it shall not at any time reduce the annual percentage rates of the Periodic Finance Charges assessed on the Receivables or other fees charged on any of the Accounts if, as a result of any such reduction, either (i) in the Seller's reasonable expectation, such reduction will cause a Pay Out Event to occur or (ii) such reduction is not also applied to any comparable segment of consumer revolving credit card accounts owned by the Seller that have characteristics the same as, or substantially similar to, such Accounts.
Periodic Finance Charges and Other Fees. (i) Except (x) as otherwise required by any Requirements of Law, or (y) as is deemed by the Account Owner to be necessary in order for it to maintain its credit card business on a competitive basis based on a good faith assessment by it of the nature of its competition in the credit card business, it shall not at any time reduce the annual percentage rate of the Periodic Finance Charges assessed on the Receivables transferred by it to the Transferor or other fees charged on any of the Accounts owned by it if, as a result of any such reduction, either (i) such Account Owner's reasonable expectation is that such reduction will cause a Pay Out Event or Reinvestment Event to occur or (ii) such reduction is not also applied to any comparable segments of consumer revolving credit card accounts owned by such Account Owner which have characteristics the same as, or substantially similar to, such Accounts.
Periodic Finance Charges and Other Fees. Except as otherwise required by any Requirements of Law, or as is deemed by the Seller in its sole discretion to be necessary in order to maintain its credit business or a program operated by such credit business on a competitive basis based on a good faith assessment by it of the nature of the competition with respect to the credit business or such program, it shall not at any time take any action which would have the effect of reducing the annual percentage rates of the Periodic Finance Charges assessed on the Receivables or other fees charged on any of the Accounts or Additional Accounts if, as a result of any such reduction, the Seller’s reasonable expectation is that such reduction will cause an Adverse Effect under the Note Trust.
Periodic Finance Charges and Other Fees. The Seller shall comply with the applicable “Periodic Finance Charges and Other Fees” covenant set forth in Schedule 3 with respect to the Accounts or Additional Accounts transferred to each Trust as set forth therein.
Periodic Finance Charges and Other Fees. The Seller hereby agrees that, except as otherwise required by any Requirement of Law, or as is deemed by the Seller to be necessary in order for the Seller to maintain its credit card business, based upon a good faith assessment by the Seller, in its sole discretion, of the nature of the competition in the credit card business, it shall not at any time reduce the Periodic Finance Charges assessed on any Receivable or other fees on any Account if, as a result of such reduction, the Seller reasonably expects such reduction to cause an early redemption event under the Indenture with respect to any Notes.
Periodic Finance Charges and Other Fees. The Transferor hereby agrees that, except as otherwise required by any Requirement of Law, it shall not at any time reduce the Periodic Finance Charges assessed on any Receivable or other fees or charges on any Account if, as a result of such reduction, the Transferor’s reasonable expectation is that the Quarterly Excess Spread Percentage as of any future date would be less than 2.50% unless such reduction is made applicable to the comparable segment of the consumer revolving credit accounts owned and serviced by the Servicer that have characteristics the same as, or substantially similar to, the Accounts that are subject to such change.
Periodic Finance Charges and Other Fees. Seller shall consult with Buyer prior to making any reduction in the periodic finance charges assessed on any Transferred Receivable or other fees on any Account. Except as otherwise required by any Requirement of Law, or as is deemed by Seller to be necessary in order for it to maintain its credit card business, based upon Seller’s good faith assessment, in its sole discretion, of the nature of the competition in the credit card business, Seller shall not at any time make such a reduction if Buyer informs Seller that, as a result of such reduction, Buyer’s reasonable expectation of the portfolio yield for any series of notes secured, directly or indirectly, by the Transferred Receivables as of the date of such reduction would be less than the then base rate for that series, all as determined in accordance with the terms of that series. In any event, Seller shall not reduce the periodic finance charges assessed on any Transferred Receivable or other fees on any Account without the consent of Buyer, which consent Buyer shall provide unless the giving of such consent is prohibited by any agreement to which Buyer is a party.
Periodic Finance Charges and Other Fees. The Seller hereby agrees --------------------------------------- that, except as otherwise required by any Requirement of Law, or as is deemed by the Seller to be necessary in order for the Seller to maintain its credit card business, based upon a good faith assessment by the Seller, in its sole discretion, of the nature of the competition in the credit card business, it shall not at any time reduce the Periodic Finance Charges assessed on any Receivable or other fees on any Account if, as a result of such reduction, the Seller's reasonable expectation of the Portfolio Yield as of such date would be less than the weighted average of the Base Rates for all Series; provided, however, that the Seller shall not, unless -------- ------- required by any Requirement of Law, reduce such Periodic Finance Charge if its reasonable expectation is that the Portfolio Yield would be less than the highest Certificate Rate with respect to any Series then issued and outstanding.
