Neiman Marcus 2009 Annual Report Download - page 268

"Merchant Discount" means a discount rate or transaction fees generally applied against settlements due to merchants for
transactions with respect to the use of a Credit Card.
"Merchant Participation" means, for any measurement period, the amount paid by Bank to NMG pursuant to Section 9.1(a)
(i) and Schedule 9.1(a)(i), as such amount may be reduced and adjusted pursuant to Section 9.1(c)(ii)(B) and as such amount is
adjusted on a quarterly and annual basis as set forth in Schedules 9.1(a)(iii) and 9.1(a)(iv), respectively.
"Merchant Participation Rate" means, for any measurement period, Merchant Participation divided by Net Credit Sales.
"Merchant Participation Yield" means, for any measurement period, Merchant Participation divided by Average Daily Gross
Receivables, which shall be Annualized.
"Monthly Servicing Fee" means the number of Active Accounts with respect to such month multiplied by the Annual
Servicing Fee Rate divided by twelve (12).
"Monthly Settlement Sheet" has the meaning set forth in Section 7.1(b) hereof.
"Net Credit Sales" means, for any period, an amount equal to (A) gross credit sales on Accounts (including gift card sales,
sales tax, delivery charges, Licensee sales and any other amount included in the full amount charged by Cardholders) reflected in the
NMG Charge Transaction Data with respect to such period, minus (B) the sum of credits for returned goods and cancelled services
and other credits (such as concessions, discounts and adjustments) on Accounts reflected in the NMG Charge Transaction Data with
respect to such period.
"Net Interest Income" means the total dollar amount of revenue received as a result of interest assessed upon Cardholders,
less any interest waivers granted.
"Net Write-Offs" means, with respect to Accounts that have been written off in a particular period in accordance with the
credit and collection policies contained in the Risk Management Policies, (a) the portion of the total Gross Receivables charged-off as
uncollectible to the written-off Accounts in accordance with such credit and collection policies (and not as a result of fraud losses)
during such period minus (b) any recoveries, including sales tax recoveries, received during such period on previously written-off
Accounts (net of amounts payable to collection agencies in connection with such recoveries).
"Net Yield" means the dollar amount equal to (a) the sum of assessed interest, late fees and other fees under the Program
during such Program Year, minus (b) the sum of all concessions, reversals and write-offs of such interest, late fees and other fees
during such Program Year.
"New Account Loss Reserve Amount" means (i) with respect to each Program Month occurring during the Reserve Period,
the lesser of (A) all Merchant Participation payable pursuant to Section 9.1(a)(i) during such Program Month and (B) [***] and
(ii) with respect to any Program Month occurring during the Reserve Period that is less than a full calendar month, the lesser of (A) all
Merchant Participation payable pursuant to Section 9.1(a)(i) during such
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