Common use of De minimis exception Clause in Contracts

De minimis exception. (i) A card issuer is not required to submit any credit card agreements to the Bureau if the card issuer had fewer than 10,000 open credit card accounts as of the last business day of the calendar quarter. (ii) If an issuer that previously quali- fied for the de minimis exception ceases to qualify, the card issuer must begin making quarterly submissions to the Bureau no later than the first quar- terly submission deadline after the date as of which the issuer ceased to qualify. (iii) If a card issuer that did not pre- viously qualify for the de minimis ex- ception qualifies for the de minimis ex- ception, the card issuer must continue to make quarterly submissions to the Bureau until the issuer notifies the Bu- ▇▇▇▇ that the card issuer is with- drawing all agreements it previously submitted to the Bureau.

De minimis exception. (i) A card issuer is not required to submit any credit card agreements to the Bureau Board if the card issuer had fewer than 10,000 open credit card accounts as of the last business day of the calendar quarter. (ii) If an issuer that previously quali- fied for the de minimis exception ceases to qualify, the card issuer must begin making quarterly submissions to the Bureau Board no later than the first quar- terly submission deadline after the date as of which the issuer ceased to qualify. (iii) If a card issuer that did not pre- viously qualify for the de minimis ex- ception qualifies for the de minimis ex- ception, the card issuer must continue to make quarterly submissions to the Bureau Board until the issuer notifies the Bu- ▇▇▇▇ Board that the card issuer is with- drawing all agreements it previously submitted to the BureauBoard.