The Card Remains Our Property Clause Samples

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The Card Remains Our Property. The Card remains our property and you and the Company understand that we can cancel your Card or the Corporate Account at any time. We can do this with or without cause and without giving you notice. If we cancel the Card without cause, we will refund to the Card Member a pro-rata portion of the annual fee unless otherwise advised by the Company. We may list cancelled Card account numbers in our “Cancellation Bulletin”, or inform parties honouring the Card that the Card issued to you has been cancelled. If we cancel the Card or it expires or if the Corporate Account is cancelled, you or the Company must immediately return the Card to us cut in half upon our request. The Company shall also use its best efforts to promptly notify you of the cancellation and to obtain each cancelled Card from you for return to us cut in half. Also if any party that accepts the Card asks you to surrender an expired or cancelled Card, you must do so. You may not use the Card after it has expired or after it has been cancelled. You and the Company agree not to hold us liable for any losses or damages, that may arise, from any wrongful cancellation of a Card. You or the Company may request us to cancel the Corporate Account or any Card by returning the Card cut in half to us together with a written request for cancellation. In any event, whether we, you or the Company should cancel the Card or Corporate Account, you and the Company shall remain jointly and severally liable for all Charges incurred until the Card has been returned to us.
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The Card Remains Our Property. The Card remains our property and we can revoke your right and the right of any Additional Cardmember to use it at any time. We can do this with or without giving you notice and with or without cause. If we have revoked the Card without cause, we will refund a proportion of your annual Card Account fee. We may list revoked Cards in our “Cancellation Bulletin”, or otherwise inform establishments that the Card issued to you and, if you are the Basic Cardmember, any Additional Cards have been revoked or cancelled. If we revoke the Card or it expires, you must return it to us. Also, if an establishment asks you to surrender an expired or revoked Card, you must do so. You must not use the Card after it has expired or after it has been revoked. You shall continue to be liable for all charges incurred by you after revocation or expiry of your Card, till the date your Card is returned to us. The revocation, repossession or request for the return of the Card is not, and shall not constitute, any reflection on your character or creditworthiness and we shall not be liable in any way for any statement made by any person requesting the return or surrender of the Card. Furthermore, privileges and facilities attached to the Card may be withdrawn at any time at our absolute discretion, without giving any notice to you or assigning any reason thereof.
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The Card Remains Our Property. The Card remains our property and we can revoke your right to use it any time if you are in breach of the Cardmember Agreement or may list revoked Cards in our “Cancellation Bulletin”, or otherwise inform Establishments that the Card issued to you has been revoked or cancelled. If we revoke the Card or it expires or if the Corporate Account is cancelled, you or the Company must return it to us if we request. Also, if a Service Establishment asks you to surrender an expired or revoked Card, you must do so. You may not use the Card after it has expired or after it has been revoked. The revocation, repossession or request for the return of the Card is not, and shall not constitute, any reflection on your character or the Company’s or your credit worthiness and we shall not be liable in any way for any statement made by any person requesting the return or surrender of the Card.
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The Card Remains Our Property. The Aeroplan Corporate Card remains our property and we can revoke your right to use it or require you to return it to us at any time. We can do this with or without cause and without giving you notice. If we have revoked the Aeroplan Corporate Card without cause, we will refund a pro-rata portion of your annual fee to the Company. We may list revoked Aeroplan Corporate Cards in our “Cancellation Bulletin”, or otherwise inform establishments honouring the Aeroplan Corporate Card that the Aeroplan Corporate Card issued to you is no longer valid. If you or we revoke the Aeroplan Corporate Card or it expires, or if the Company’s account is cancelled for any reason, you must cut the Aeroplan Corporate Card in half and return it to us. Also, if an establishment which honours the Aeroplan Corporate Card asks you to surrender an invalid, expired or revoked Aeroplan Corporate Card for return to us, you must do so. You may not use the Aeroplan Corporate Card after it has expired or been revoked, after the Company’s account has been cancelled or after this Agreement has been terminated. If you ask us to cancel the Aeroplan Corporate Card or your Aeroplan Corporate Card account, but you use the Aeroplan Corporate Card or your Aeroplan Corporate Card account after that, we may consider such use as your request for reinstatement.
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The Card Remains Our Property. The Card remains our property and we can revoke your right and the right of any Additional Cardmember to use it at anytime. We can do this with or without giving you notice and with or without cause. If we have revoked the Card without cause, we will refund a proportion of your Annual Card Account fee. We may list revoked Cards in our “Cancellation Bulletin”, or otherwise inform Establishments that the Card issued to you and, if you are the Basic Cardmember, any Additional Cards have been revoked or cancelled. If we revoke the Card or it expires, you must return it to us. Also, if an establishment asks you to surrender an expired or revoked Card, you must do so. You must not use the Card after it has expired or after it has been revoked. You shall continue to be liable for all Charges incurred by you after revocation or expiry of your Card, till the date your Card is returned to us. The revocation, repossession or request for the return of the Card is not, and shall not constitute, any reflection on your character or creditworthiness and we shall not be liable in anyway for any statement made by any person requesting the return or surrender of the Card. Furthermore, privileges and facilities attached to the Card may be withdrawn at any time at our absolute discretion, without giving any notice to you or assigning any reason thereof. Once a card is cancelled or blocked (including but not limited to cases where the card product is being migrated to a new product), it shall not be valid for further use with immediate effect, and any transaction including but not limited to recurring transactions/standing instruction on the card will be declined. If the card is cancelled or blocked, kindly cut the card in your possession into two halves and return them to American Express at the following address: American Express Banking Corp., Cyber City, Tower C,DLF Bldg. No. 8, Sector 25, DLF City Phase II, Gurgaon-122002. Additionally, please take appropriate steps to cancel any standing instructions that you may have opted for on such card.
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Related to The Card Remains Our Property

  • INTERIM ASSET SERVICING ARRANGEMENT With respect to each asset (or liability) designated from time to time by the Receiver to be serviced by the Assuming Bank pursuant to this Arrangement (such being designated as "Pool Assets"), during the term of this Arrangement, the Assuming Bank shall:

  • Title, Management and Disposition of REO Property In the event that title to any Mortgaged Property is acquired in foreclosure or by deed in lieu of foreclosure, the deed or certificate of sale shall be taken in the name of the Trustee (or MERS, as applicable), or in the event the Trustee is not authorized or permitted to hold title to real property in the state where the REO Property is located, or would be adversely affected under the “doing business” or tax laws of such state by so holding title, the deed or certificate of sale shall be taken in the name of such Person or Persons as shall be consistent with an Opinion of Counsel obtained by the Servicer (with a copy delivered to the Trustee) from any attorney duly licensed to practice law in the state where the REO Property is located. The Person or Persons holding such title other than the Trustee shall acknowledge in writing that such title is being held as nominee for the Trustee. The Servicer shall manage, conserve, protect and operate each REO Property for the Trustee solely for the purpose of its prompt disposition and sale. The Servicer, either itself or through an agent selected by the Servicer, shall manage, conserve, protect and operate the REO Property in the same manner that it manages, conserves, protects and operates other foreclosed property for its own account, and in the same manner that similar property in the same locality as the REO Property is managed. The Servicer shall attempt to sell the same (and may temporarily rent the same for a period not greater than one year, except as otherwise provided below) on such terms and conditions as the Servicer deems to be in the best interest of the Trust Fund. Notwithstanding anything to the contrary contained in this Section 3.12, in connection with a foreclosure or acceptance of a deed in lieu of foreclosure, in the event the Servicer has reasonable cause to believe that a Mortgaged Property is contaminated by hazardous or toxic substances or wastes, or if the Master Servicer or NIMS Insurer otherwise requests, an environmental inspection or review of such Mortgaged Property to be conducted by a qualified inspector shall be arranged by the Servicer. Upon completion of the inspection, the Servicer shall provide the Master Servicer and NIMS Insurer with a written report of such environmental inspection. In the event that the environmental inspection report indicates that the Mortgaged Property is contaminated by hazardous or toxic substances or wastes, the Servicer shall not proceed with foreclosure or acceptance of a deed in lieu of foreclosure. In the event that the environmental inspection report is inconclusive as to the whether or not the Mortgaged Property is contaminated by hazardous or toxic substances or wastes, the Servicer shall not, without the prior approval of both the Master Servicer and the NIMS Insurer proceed with foreclosure or acceptance of a deed in lieu of foreclosure. In such instance, the Master Servicer and/or the NIMS Insurer shall be deemed to have approved such foreclosure or acceptance of a deed in lieu of foreclosure unless either notifies the Servicer in writing, within three (3) days after its receipt of written notice of the proposed foreclosure or deed in lieu of foreclosure from the Servicer, that it disapproves of the related foreclosure or acceptance of a deed in lieu of foreclosure. The Servicer shall be reimbursed for all Servicing Advances made pursuant to this paragraph with respect to the related Mortgaged Property from the Custodial Account. In the event that the Trust Fund acquires any REO Property in connection with a default or imminent default on a Mortgage Loan, the Servicer shall dispose of such REO Property not later than the end of the third taxable year after the year of its acquisition by the Trust Fund unless the Servicer has applied for and received a grant of extension from the Internal Revenue Service (and provided a copy of the same to the NIMS Insurer) to the effect that, under the REMIC Provisions and any relevant proposed legislation and under applicable state law, the applicable Trust REMIC may hold REO Property for a longer period without adversely affecting the REMIC status of such REMIC or causing the imposition of a federal or state tax upon such REMIC. If the Servicer has received such an extension (and provide a copy of the same to the NIMS Insurer), then the Servicer shall continue to attempt to sell the REO Property for its fair market value for such period longer than three years as such extension permits (the “Extended Period”). If the Servicer has not received such an extension and the Servicer is unable to sell REO Property within the period ending 3 months before the end of such third taxable year after its acquisition by the Trust Fund or if the Servicer has received such an extension, and the Servicer is unable to sell the REO Property within the period ending three months before the close of the Extended Period, the Servicer shall, before the end of the three-year period or the Extended Period, as applicable, (i) purchase such REO Property at a price equal to the REO Property’s fair market value, as acceptable to the NIMS Insurer or (ii) auction the REO Property to the highest bidder (which may be the Servicer) in an auction reasonably designed to produce a fair price prior to the expiration of the three-year period or the Extended Period, as the case may be. The Master Servicer shall sign any document or take any other action reasonably requested by the Servicer which would enable the Servicer, on behalf of the Trust Fund, to request such grant of extension. Notwithstanding any other provisions of this Agreement, no REO Property acquired by the Trust Fund shall be rented (or allowed to continue to be rented) or otherwise used by or on behalf of the Trust Fund in such a manner or pursuant to any terms that would: (i) cause such REO Property to fail to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code; or (ii) subject any Trust REMIC to the imposition of any federal income taxes on the income earned from such REO Property, including any taxes imposed by reason of Sections 860F or 860G(c) of the Code, unless the Servicer has agreed to indemnify and hold harmless the Trust Fund and the NIMS Insurer with respect to the imposition of any such taxes. The Servicer shall also maintain on each REO Property hazard insurance with extended coverage in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements which are a part of such property and (ii) the outstanding Principal Balance of the Mortgage Loan at the time it becomes an REO Property. Each REO Disposition shall be carried out by the Servicer at such price and upon such terms and conditions as the Servicer reasonably determines to be in the best interest of the Certificateholders and provided the sales price and the related terms and conditions are results of arm’s-length negotiation. The proceeds of sale of the REO Property shall be promptly deposited in the Custodial Account. After the expenses of such disposition shall have been paid, the Servicer shall pursuant to Section 3.04 apply any remaining proceeds to payment of any unreimbursed Option One Servicing Fees, Servicing Advances or Monthly Advances or unpaid Seller Remittance Amount incurred with respect to such REO Property. The Servicer shall withdraw from the Custodial Account funds necessary for the proper operation, management and maintenance of the REO Property, including the cost of maintaining any hazard insurance pursuant to the ▇▇▇▇▇▇▇ Mac or ▇▇▇▇▇▇ Mae Guides.

  • Annual Collateral Verification Each year, at the time of delivery of annual financial statements with respect to the preceding Fiscal Year pursuant to Section 5.1(c), Company shall deliver to Collateral Agent a certificate of an Authorized Officer either (i) confirming that there has been no change in such information since the date of the Collateral Questionnaire delivered on the Closing Date or the date of the most recent certificate delivered pursuant to this Section 5.1(o) or (ii) identifying such changes;

  • Previously Reviewed Receivable; Duplicative Tests If any Review Receivable was included in a prior Review, the Asset Representations Reviewer will not conduct additional Tests on such Review Receivable, but will include the previously reported Test results in the Review Report for the current Review. If the same Test is required for more than one representation and warranty, the Asset Representations Reviewer will only perform the Test once for each Review Receivable, but will report the results of the Test for each applicable representation and warranty on the Review Report.

  • Excluded Property Notwithstanding anything to the contrary in Section 2.1, the property, assets, rights and interests set forth in this Section 2.2 (the “Excluded Property”) are excluded from the Property: