Neiman Marcus 2008 Annual Report Download - page 756

shall service and collect the Written-off Recourse Portfolio Amounts pursuant to Section (i) herein.
(g) All Recourse Accounts shall remain at the initial credit limit extended at the time the Recourse Account is opened.
(h) All Recourse Amounts must be approved by the NMG Companies' Vice President of Credit. As of the date of the First
Amendment to the Agreement, the NMG Companies' current Vice President of Credit is Bill Hough.
(i) Collection of Written-off Recourse Portfolio Amounts. Bank and the NMG Companies will jointly participate in all servicing and
collection efforts with respect to Written-off Recourse Portfolio Amounts and shall divide any recoveries of Recourse Portfolio
Amounts and non-Recourse Amounts according to the following parameters:
(1) If a written-off balance consists only of a Written-off Recourse Portfolio Amount, or less, the NMG Companies shall be
entitled to collect and receive that written-off balance.
(2) If a written-off balance consists of a Written-off Recourse Portfolio Amount in addition to an amount approved by the
Bank, any recovery will be split equally up to the point that the NMG Companies are made whole for any Charged-off
Recourse Portfolio Amount owed to or paid to Bank; and, Bank will be entitled to collect or receive any additional recovery
thereafter.
(3) Bank will assume all costs of collecting Written-off Recourse Portfolio Amounts.