Reduction of Charges. Except as required by law or as the Seller -------------------- shall deem advisable for its credit card program based on a good faith assessment by the Seller, in its sole discretion, of the various factors affecting the use of its credit card accounts, the Seller will not reduce the finance charges or other fees on the Accounts if, as a result of such reduction, its reasonable expectation of Portfolio Yield as of the time of such reduction would be less than the weighted average base rates of all outstanding Series. In addition, the Seller covenants that, unless required by law, it will not reduce the annual percentage rate if its reasonable expectation of Portfolio Yield would be less than the highest Certificate Rate for any outstanding Series.
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Sources: Receivables Purchase Agreement (Proffitts Credit Card Master Trust)
Reduction of Charges. Except as required by law or as the -------------------- Seller -------------------- shall deem advisable for its credit card program based on a good faith assessment by the Seller, in its sole discretion, of the various factors affecting the use of its credit card accounts, the Seller will not reduce the finance charges or other fees on the Accounts if, as a result of such reduction, its reasonable expectation of Portfolio Yield as of the time of such reduction would be less than the weighted average base rates of all outstanding Series. In addition, the Seller covenants that, unless required by law, it will not reduce the annual percentage rate rate, if its reasonable expectation of Portfolio Yield would be less than the highest Certificate Rate for any outstanding Series.
Appears in 1 contract
Sources: Receivables Purchase Agreement (Proffitts Credit Corp)
Reduction of Charges. Except as required by law or as the Seller -------------------- shall deem advisable for its credit card program based on a good faith assessment by the Seller, in its sole discretion, of the various factors affecting the use of its credit card accounts, the Seller will not reduce the finance charges or other fees on the Accounts if, as a result of such reduction, its reasonable expectation of Portfolio Yield as of the time of such reduction would be less than the weighted average base rates of all outstanding Series. In addition, the Seller covenants that, unless required by law, it will not reduce the annual percentage rate if its reasonable expectation of Portfolio Yield would be less than the highest Certificate Rate for any outstanding Series.
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