Common use of Accumulation Period Reserve Account Clause in Contracts

Accumulation Period Reserve Account. On each Business Day on and after the Reserve Account Funding Date, but prior to the date on which the Accumulation Period Reserve Account terminates pursuant to subsection 4.20(d) of the Agreement, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account and distribute to the Servicer, to the extent of any Available Series 1997-2 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (xiii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1997-2 Finance Charge Collections and (y) the excess, if any, of the Required Reserve Account Amount over the Available Reserve Account Amount and the Servicer shall deposit such amount, if any, in the Accumulation Period Reserve Account.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Metris Receivables Inc), Pooling and Servicing Agreement (Metris Receivables Inc)

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Accumulation Period Reserve Account. On each Business Day on and after the Reserve Account Funding Date, but prior to the date on which the Accumulation Period Reserve Account terminates pursuant to subsection 4.20(d) of the Agreement, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account and distribute to the Servicer, to the extent of any Available Series 1997-2 1 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through 4.9(a)(i)through (xiii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1997-2 1 Finance Charge Collections and (y) the excess, if any, of the Required Reserve Account Amount over the Available Reserve Account Amount and the Servicer shall deposit such amount, if any, in the Accumulation Period Reserve Account.. (xv)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Companies Inc)

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Accumulation Period Reserve Account. On each Business Day on and after the Reserve Account Ac- count Funding Date, but prior to the date on which the Accumulation Period Reserve Account terminates pursuant to subsection 4.20(d) of the Agreement, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account and distribute to the Servicer, to the extent of any Available Series 1997-2 1 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (xiii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1997-2 Finance Charge Collections and (y) the excessex- cess, if any, of the Required Reserve Account Amount over the Available Reserve Account Amount and the Servicer shall deposit such amount, if any, in the Accumulation Period Reserve Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

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