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of SC members to utilize the Services provided by ABS,
all as more specifically described herein.
* * * * * * *
2.3 ABS has entered into a written agreement
whereby Chase Lincoln First Bank, N.A. of Rochester,
New York (“Chase Lincoln”) has agreed to act as a
financial institution to issue bankcards for SC. SC
has selected Chase Lincoln as the financial institution
to be the issuer of Sierra Club bankcards under this
Agreement. * * *
2.4 Chase Lincoln has represented to ABS that
the membership fee customarily charged cardholders by
Chase Lincoln will be waived for all SC members for the
first year of the term of this Agreement. ABS will
attempt to obtain from Chase Lincoln, or from any
successor financial institution selected by SC, a
waiver of such membership fee for each year of the
initial four year term of this agreement. In the event
ABS is unable to obtain a waiver of such membership
fee, ABS will pay to SC, and SC will refund to
participating members, the membership fee charged such
members during each year of the term of this Agreement.
ARTICLE 3. Program Control
* * * * * * *
3.2 ABS shall provide SC with monthly computer
reports which set forth the Total Cardholder Sales
Volume, as defined in Attachment "B" hereto, and the
royalty fees payable to SC.
3.3 ABS shall be entitled to offer to SC members
who select one of the options in Attachment “A" such
other services or products as are mutually agreed upon
from time to time between the parties hereto and for
which mutually agreed upon compensation is paid to SC.
3.4 ABS shall keep and maintain true, correct
and complete books of account and records from which SC
royalty fees can be determined. * * * SC shall have
the right at any time to examine, inspect, and audit
all such books and records, and all such other papers
and files of ABS relating to the performance of this
Agreement.
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Last modified: May 25, 2011