Addition of Additional Accounts. (a) If, from time to time, Funding becomes obligated to designate Additional Accounts pursuant to Section 2.09(a) of the Pooling and Servicing Agreement, then Funding shall give NMG written notice thereof on or before the eighth Business Day (the "Addition Notice Date") prior to the Addition Date therefor, and NMG shall on or before the Addition Date, designate sufficient Eligible Accounts to be included as Accounts so that after the inclusion thereof Funding will be in compliance with the requirements of Section 2.09 of the Pooling and Servicing Agreement. NMG shall have sole responsibility for selecting such Additional Accounts and shall on or prior to the Addition Date therefor execute and deliver to Funding a written assignment from NMG to Funding in substantially the form of Exhibit A (the "Supplemental Conveyance"). Upon such designation, such Automatic Additional Accounts shall be deemed to be Accounts hereunder. (b) Subject to the limitations set forth in Section 2.09(d) of the Pooling and Servicing Agreement and in any Supplement, Automatic Additional Accounts shall be included as Accounts from and after the date of creation thereof (other than any such date of creation falling during each period beginning on an Automatic Addition Termination Date or an Automatic Addition Suspension Date and ending on the day immediately preceding a Restart Date).
Appears in 1 contract
Sources: Receivables Purchase Agreement (Neiman Marcus Group Inc)
Addition of Additional Accounts. (a) If, from time to time, Funding becomes obligated to designate Additional Accounts pursuant to Section 2.09(a) of the Pooling and Servicing Agreement, then Funding shall give NMG BG written notice thereof on or before the eighth Business Day (the "Addition Notice Date") prior to the Addition Date therefor, and NMG BG shall on or before the Addition Date, Date designate sufficient Eligible Accounts to be included as Accounts so that after the inclusion thereof Funding will be in compliance with the requirements of Section 2.09 of the Pooling and Servicing Agreement. NMG BG shall have sole responsibility for selecting such Additional Accounts and shall on or prior to the Addition Date therefor execute and deliver to Funding a written assignment from NMG BG to Funding in substantially the form of Exhibit A (the "Supplemental Conveyance"). Upon such designation, such Automatic Additional Accounts shall be deemed to be Accounts hereunder.
(b) Subject to the limitations set forth in Section 2.09(d) of the Pooling and Servicing Agreement and in any Supplement, Automatic Additional Accounts shall be included as Accounts from and after the date of creation thereof (other than any such date of creation falling during each period beginning on an Automatic Addition Termination Date or an Automatic Addition Suspension Date and ending on the day immediately preceding a Restart Date).
Appears in 1 contract
Sources: Receivables Purchase Agreement (Neiman Marcus Group Inc)