Common use of Purchase Condition Clause in Contracts

Purchase Condition. Fingerhut agrees to purchase the Accounts, subject to any Securitization agreements or arrangements that Direct Merchants Bank or its Affiliate may have entered into and subject to any necessary approvals of rating agencies, trustees or other parties as set forth in such Securitization transaction. Fingerhut and Direct Merchants Bank agree to cooperate to take the reasonable necessary actions to effectuate an orderly transition of the Accounts, including the Securitized Accounts, to Fingerhut. Direct Merchants Bank further agrees to take reasonable necessary actions to remove the Securitized Accounts from the Securitization to enable Fingerhut to complete the purchase of the Accounts. ARTICLE 8 - MISCELLANEOUS 8.1

Purchase Condition. Fingerhut agrees to purchase the Accounts, subject to any Securitization agreements or arrangements that Direct Merchants Bank or its Affiliate may have entered into and subject to any necessary approvals of rating agencies, trustees or other parties as set forth in such Securitization transaction. Fingerhut and Direct Merchants Bank agree to cooperate to take the reasonable necessary actions to effectuate an orderly transition of the Accounts, including the Securitized Accounts, to Fingerhut. Direct Merchants Bank further agrees to take reasonable necessary actions to remove the Securitized Accounts from the Securitization to enable Fingerhut to complete the purchase of the Accounts. ARTICLE 8 - MISCELLANEOUS 8.1.