Common use of Competitive Programs Clause in Contracts

Competitive Programs. (a) Except as permitted in Article IX, the Saks Companies shall not during the Term, unless Household Bank agrees otherwise in writing, make available, or enter into the provision of, any credit program, credit facility or credit card program directed to customers who are individuals other than (i) credit provided in connection with the Program hereunder, (ii) credit provided by generally accepted multi-purpose credit or debit cards such as American Express, Mastercard, Visa and Discover, including any cooperative marketing program established to support such cards (except that any Co-Branded Card, even if issued by any of the foregoing, shall be prohibited), (iii) credit provided in connection with accounts for commercial or business customers, (iv) credit provided by merchandise vendors and (v) credit provided in connection with the NBGL Retained Accounts or in connection with any other accounts opened or acquired and retained by the Company or its affiliates consistent with Article IX. (b) Notwithstanding anything to the contrary contained herein, there shall be no limit on the ability of the Company or its Affiliates to accept any credit card product, including in stores operated by the Company or its Affiliates, or to offer or accept in any way (i) any debit card or access device that does not provide the holder with the ability to obtain or access credit other than through an overdraft line of credit or (ii) any stored value, digital cash, electronic payments, prepaid card, smart card, gift card, or other access device that does not provide the holder with the ability to obtain or access credit other than through an overdraft line of credit.