Neiman Marcus 2009 Annual Report Download - page 250

ARTICLE XV EVENTS OF DEFAULT; RIGHTS AND REMEDIES 96
15.1 Events of Default 96
15.2 Defaults by Bank 97
15.3 Defaults by the NMG Companies 98
15.4 Remedies for Events of Default 99
ARTICLE XVI TERM/TERMINATION 99
16.1 Term 99
16.2 Termination by NMG Prior to the End of the Initial Term or a Renewal Term 99
16.3 Termination by Bank Prior to the End of the Initial Term or a Renewal Term 101
16.4 Effective Date of Termination 102
ARTICLE XVII EFFECTS OF TERMINATION 102
17.1 General Effects 102
17.2 The NMG Companies' Option to Purchase the Program Assets 103
17.3 Card Acceptance and Loyalty Program During Wind-Down 108
17.4 Dedicated Program Personnel 108
17.5 Rights of Bank if Purchase Option Not Exercised 108
ARTICLE XVIII INDEMNIFICATION 110
18.1 NMG Indemnification of Bank 110
18.2 Bank Companies' Indemnification of the NMG Companies 111
18.3 Procedures 112
18.4 Notice and Additional Rights and Limitations 113
ARTICLE XIX MISCELLANEOUS 113
19.1 Precautionary Security Interest 113
19.2 Securitization, Participation or Pledge of Cardholder Indebtedness 114
19.3 Assignment 114
19.4 Sale or Transfer of Accounts 114
19.5 Subcontracting 115
19.6 Sales and Use Tax 115
19.7 Amendment 115
19.8 Non-Waiver 115
19.9 Severability 115
19.10 Waiver of Jury Trial and Venue 115
19.11 Governing Law; Compliance with Law 116
19.12 Specific Performance 116
19.13 Captions 116
19.14 Notices 116
19.15 Coordination of Consents and Approvals 117
19.16 Further Assurances 117
19.17 No Joint Venture 117
19.18 Press Releases 117
19.19 No Set-Off 118
iii