Exception Accounts Sample Clauses

Exception Accounts. (a) Notwithstanding the foregoing, Bank shall, upon request by Kohl’s, shall offer a Private Label Credit Card and Account to any customer that does not satisfy Bank’s credit standards; provided that Bank shall have no obligation to issue such a Private Label Credit Card and Account if, at the time Kohl’s makes such a request to Bank, the number of Accounts approved under this Section 4.7(a) exceeds the percentage set forth on Schedule 4.7(a). (b) Notwithstanding the foregoing, Bank shall, upon request by Kohl’s, work with Kohl’s to develop a program whereby any Kohl’s employee that does not satisfy Bank’s credit standards may receive an Account or other mutually agreed credit or debit card product issued by Bank. The parties shall work together in good faith to develop the terms of such a program including whether such Accounts should be secured or prepaid.
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Exception Accounts. (a) On or prior to May 24, 2025 (or such later date as agreed to in writing by the Administrator in its sole discretion), the Seller and the Servicer shall: (i) identify and notify in writing in form and substance acceptable to the Administrator one or more Collection Accounts (each, a “Replacement Account”) that will replace each Exception Account maintained as of the Thirteenth Amendment Date, (ii) to the extent such Replacement Account is not subject to a Collection Account Agreement at the time of such identification, deliver to the Administrator a fully executed Collection Account Agreement covering such Replacement Account, and (iii) deliver to the Administrator opinions of counsel of the Seller covering general corporate, enforceability, security interest and perfection-by-control matters with respect to such Collection Account Agreement covering the Replacement Account; (ii) certify to the Administrator in writing in form and substance acceptable to the Administrator that any Exception Account Obligor previously instructed to deliver payments to the Exception Accounts has been instructed, and such Exception Account Obligor has acknowledged such instruction, to remit subsequent payments to the applicable Pool Receivables solely to the Replacement Account and cease remitting payments on any applicable Pool Receivables to the Exception Account; ( (b) On or prior to July 24, 2025 (or such later date as agreed to in writing by the Administrator in its sole discretion), the Seller and the Servicer shall use commercially reasonable efforts to ensure that all Collections with respect to any Pool Receivables which were previously being remitted to any Exception Account are remitted to a Replacement Account. On July 24, 2025 and on any date thereafter, (or such later date as agreed to in writing by the Administrator in its sole discretion), the Seller and the Servicer shall remit any Collections received in any Exception Account to a Replacement Account within two (2) Business Days of receipt. (c) Subject to the Seller’s and the Servicer’s compliance with each of Section 4(a) and (b) of this Exhibit IV, the Servicer may instruct Exception Account Obligors to deliver payments on Pool Receivables to an Exception Account, and the Exception Accounts may be maintained in the name of an Exception Account Originator and shall not be required to be subject to a Collection Account Agreement. 775839016.11 Each of the following shall be a “Termination Event”: (a) (i) t...
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Exception Accounts. (a) Notwithstanding the foregoing, Bank shall, upon request by Dillard's, offer a Private Label Credit Card and Account to any customer that does not satisfy Bank's credit standards ("Supported Accounts"), provided that Bank shall have no obligation to issue such a Private Label Credit Card and Account if, at the time Dillard's makes such a request to Bank, the aggregate Cardholder Indebtedness associated with Supported Accounts exceeds one percent (1%) of the aggregate Cardholder Indebtedness for all Accounts. By March 1 of each calendar year, Bank shall provide to Dillard's a report setting forth (i) the total net amount of write-offs with respect to all Supported Accounts in the preceding calendar year, (ii) the total net amount of charges incurred by Supported Accounts during the same period, (iii) the total net amount of write-offs with respect to all other Accounts in the preceding calendar year, and (iv) the total net amount of charges incurred by all other Accounts during the same period. If the ratio of (i)/(ii) is greater than the ratio of (iii)/(iv), Bank shall include in its next Monthly Settlement Sheet and Dillard's shall pay an amount equal to (i) minus the product of (ii) multiplied by the ratio of (iii)/(iv). (b) Notwithstanding the foregoing, Bank or an Affiliate of Bank shall, upon request by Dillard's, offer a product similar to a Private Label Credit Card and Account to any Dillard's employee that does not satisfy Bank's credit standards, provided that the terms of such product shall require that such employee must prepay the amount that can be drawn through the use of a card.
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Related to Exception Accounts

  • Collection Accounts (a) On behalf of the Trustee, each Servicer shall establish and maintain, or cause to be established and maintained, one or more separate Eligible Accounts (each such account or accounts, a "Collection Account"), held in trust for the benefit of the Trustee. On behalf of the Trustee, each Servicer shall deposit or cause to be deposited in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Servicer's receipt thereof, and shall thereafter deposit in the related Collection Account, in no event more than two Business Days after the deposit of such funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the Cut-off Date (other than in respect of principal or interest on the related Mortgage Loans due on or before the Cut-off Date), or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date but allocable to a Due Period subsequent thereto: (i) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (ii) all payments on account of interest (net of the related Servicing Fee) on each Mortgage Loan; (iii) all Insurance Proceeds and Condemnation Proceeds to the extent such Insurance Proceeds and Condemnation Proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the related Mortgagor in accordance with the express requirements of law or in accordance with Accepted Servicing Practices and Liquidation Proceeds; (iv) any amounts required to be deposited pursuant to Section 3.12 in connection with any losses realized on Permitted Investments with respect to funds held in the related Collection Account; (v) any amounts required to be deposited by such Servicer pursuant to the second paragraph of Section 3.13(a) in respect of any blanket policy deductibles; (vi) all proceeds of any Mortgage Loan repurchased or purchased in accordance with this Agreement; and (vii) all Prepayment Charges collected or paid (pursuant to Section 3.07(a)) by such Servicer. The foregoing requirements for deposit in the Collection Accounts shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges, NSF fees, reconveyance fees, assumption fees and other similar fees and charges need not be deposited by each Servicer in the related Collection Account and shall, upon collection, belong to the applicable Servicer as additional compensation for its servicing activities. In the event a Servicer shall deposit in the related Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from its Collection Account, any provision herein to the contrary notwithstanding. (b) Funds in the Collection Accounts may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.12. Each Servicer shall give notice to the Trustee of the location of the related Collection Account maintained by it when established and prior to any change thereof in accordance with Section 3.07(f).

  • Set Up Accounts (a) Bank shall establish and maintain the following accounts ("Accounts"): (i) a Securities Account in the name of Customer on behalf of each Fund for Financial Assets, which may be received by Bank or its Subcustodian for the account of Customer, including as an Entitlement Holder; and (ii) an account in the name of Customer ("Cash Account") for any and all cash in any currency received by Bank or its Subcustodian for the account of Customer. Notwithstanding paragraph (ii), cash held in respect of those markets where Customer is required to have a cash account in its own name held directly with the relevant Subcustodian shall be held in that manner and shall not be part of the Cash Account. Bank shall notify Customer prior to the establishment of such an account. (b) At the request of Customer, additional Accounts may be opened in the future, which shall be subject to the terms of this Agreement. (c) Except as precluded by Section 8-501(d) of the Uniform Commercial Code ("UCC"), Bank shall hold all Securities and other Financial Assets, other than cash, of a Fund that are delivered to it in a "securities account" with Bank for and in the name of such Fund and shall treat all such assets other than cash as "financial assets" as those terms are used in the UCC.

  • Separate Accounts If the Fund has more than one series or portfolio, the Bank will segregate the assets of each series or portfolio to which this Agreement relates into a separate account for each such series or portfolio containing the assets of such series or portfolio (and all investment earnings thereon). Unless the context otherwise requires, any reference in this Agreement to any actions to be taken by the Fund shall be deemed to refer to the Fund acting on behalf of one or more of its series, any reference in this Agreement to any assets of the Fund, including, without limitation, any portfolio securities and cash and earnings thereon, shall be deemed to refer only to assets of the applicable series, any duty or obligation of the Bank hereunder to the Fund shall be deemed to refer to duties and obligations with respect to such individual series and any obligation or liability of the Fund hereunder shall be binding only with respect to such individual series, and shall be discharged only out of the assets of such series.

  • Special Accounts For the purposes of this Schedule:

  • Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.04: (i) to remit to the Trustee for deposit in the Distribution Account the amounts required to be so remitted pursuant to Section 3.10(b) or permitted to be so remitted pursuant to the first sentence of Section 3.10(d); (ii) subject to Section 3.16(d), to reimburse the Master Servicer for (a) any unreimbursed Advances to the extent of amounts received which represent Late Collections (net of the related Servicing Fees) of Monthly Payments, Liquidation Proceeds and Insurance Proceeds on Mortgage Loans with respect to which such Advances were made in accordance with the provisions of Section 4.04; (b) any unreimbursed Advances with respect to the final liquidation of a Mortgage Loan that are Nonrecoverable Advances, but only to the extent that Late Collections, Liquidation Proceeds and Insurance Proceeds received with respect to such Mortgage Loan are insufficient to reimburse the Master Servicer for such unreimbursed Advances; or (c) subject to Section 4.04(b), any unreimbursed Advances to the extent of funds held in the Collection Account for future distribution that were not included in Available Funds for the preceding Distribution Date; (iii) subject to Section 3.16(d), to pay the Master Servicer or any Sub-Servicer (a) any unpaid Servicing Fees, (b) any unreimbursed Servicing Advances with respect to each Mortgage Loan, but only to the extent of any Late Collections, Liquidation Proceeds, Insurance Proceeds and condemnation proceeds received with respect to such Mortgage Loan, and (c) any Servicing Advances with respect to the final liquidation of a Mortgage Loan that are Nonrecoverable Advances, but only to the extent that Late Collections, Liquidation Proceeds and Insurance Proceeds received with respect to such Mortgage Loan are insufficient to reimburse the Master Servicer or any Sub-Servicer for Servicing Advances; (iv) to pay to the Master Servicer as servicing compensation (in addition to the Servicing Fee) on the Master Servicer Remittance Date any interest or investment income earned on funds deposited in the Collection Account; (v) to pay to the Originator, with respect to each Mortgage Loan that has previously been purchased or replaced pursuant to Section 2.03 or Section 3.16(c) all amounts received thereon subsequent to the date of purchase or substitution, as the case may be; (vi) to reimburse the Master Servicer for any Advance or Servicing Advance previously made which the Master Servicer has determined to be a Nonrecoverable Advance in accordance with the provisions of Section 4.04; (vii) to pay, or to reimburse the Master Servicer for Servicing Advances in respect of, expenses incurred in connection with any Mortgage Loan pursuant to Section 3.16(b); (viii) to reimburse the Master Servicer for expenses incurred by or reimbursable to the Master Servicer pursuant to Section 6.03; (ix) to reimburse the NIMS Insurer, the Master Servicer (if the Master Servicer is not an Affiliate of the Originator) or the Trustee, as the case may be, for enforcement expenses reasonably incurred in respect of the breach or defect giving rise to the purchase obligation under Section 2.03 of this Agreement that were included in the Purchase Price of the Mortgage Loan, including any expenses arising out of the enforcement of the purchase obligation;