Common use of Allocation from the DCMT Group One Interchange Reallocation Account Clause in Contracts

Allocation from the DCMT Group One Interchange Reallocation Account. For so long as any series issued by the DCMT is outstanding that is not designated as an Interchange Series in accordance with the DCMT Pooling and Servicing Agreement and the series supplement for such series, the Class A Required Amount Shortfall shall be reduced by the amount of funds on deposit in the DCMT Group One Interchange Reallocation Account allocable to the Series 2007-CC Collateral Certificate in accordance with Section 9(b)(9) of the Series 2007-CC Supplement, and the portion of such amount that is allocable to the DiscoverSeries pursuant to the Indenture shall be deposited into the DiscoverSeries Collections Account. If and when any Additional Collateral Certificates are added to the Note Issuance Trust, any provisions to allocate the amount set forth in clause (x) of step (9) (Allocation from the DCMT Group One Finance Charge Collections Reallocation Account) to an interchange reallocation account for such Additional Collateral Certificates shall be specified in the documents relating to such addition. The amounts deposited into the DiscoverSeries Collections Account under step (9) and this step (10) are collectively the “Reallocated Finance Charge Amounts”; provided, however, that the Calculation Agent may direct the Master Trust Trustee for the DCMT to retain any funds in DCMT accounts that will be paid to the Master Servicer for the DCMT in accordance with these Cash Flows, and any such amounts shall not be deposited into the DiscoverSeries Collections Account; and provided, further, that any such amounts shall nonetheless be treated as Reallocated Finance Charge Amounts hereunder and allocated as if they had been so deposited.

Appears in 1 contract

Samples: Indenture (Discover Card Master Trust I)

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Allocation from the DCMT Group One Interchange Reallocation Account. For so long as any series issued by the DCMT is outstanding that is not designated as an Interchange Series in accordance with the DCMT Pooling and Servicing Agreement and the series supplement for such series, the Class A Required Cumulative Investor Charged-Off Amount Shortfall shall be reduced by the amount of funds on deposit in the DCMT Group One Interchange Reallocation Account allocable to the Series 2007-CC Collateral Certificate in accordance with Section 9(b)(99(b)(10) of the Series 2007-CC Supplement, and the portion of such amount that is allocable to the DiscoverSeries pursuant to the Indenture shall be deposited into the DiscoverSeries Collections Account. If and when any Additional Collateral Certificates are added to the Note Issuance Trust, any provisions to allocate the amount set forth in clause (x) of step (9) (Allocation from the DCMT Group One Finance Charge Collections Reallocation Account) to an interchange reallocation account for such Additional Collateral Certificates shall be specified in the documents relating to such addition. The amounts deposited into the DiscoverSeries Collections Account under step (9) and this step (10) are collectively the “Reallocated Finance Charge Amounts”; provided, however, that the Calculation Agent may direct the Master Trust Trustee for the DCMT to retain any funds in DCMT accounts that will be allocated to the DCMT accounts or paid to the Master Servicer for the DCMT in accordance with these Cash Flows, and any such amounts shall not be deposited into the DiscoverSeries Collections Account; and provided, further, that any such amounts shall nonetheless be treated as Reallocated Finance Charge Amounts hereunder and allocated as if they had been so deposited. The Reallocated Finance Charge Amounts shall be increased by the amount of such deposit. If and when any Additional Collateral Certificates are added to the Note Issuance Trust, any provisions to allocate the amount set forth in clause (x) of step (21) (Allocation from the DCMT Group One Finance Charge Collections Reallocation Account) to an interchange reallocation account for such Additional Collateral Certificates shall be specified in the documents relating to such addition.

Appears in 1 contract

Samples: Indenture (Discover Card Master Trust I)

Allocation from the DCMT Group One Interchange Reallocation Account. For so long as any series issued by the DCMT is outstanding that is not designated as an Interchange Series in accordance with the DCMT Pooling and Servicing Agreement and the series supplement for such series, the Class A Required Amount Shortfall shall be reduced by the amount of funds on deposit in the DCMT Group One Interchange Reallocation Account allocable to the Series 2007-CC Collateral Certificate in accordance with Section 9(b)(9) of the Series 2007-CC Supplement, and the portion of such amount that is allocable to the DiscoverSeries pursuant to the Indenture shall be deposited into the DiscoverSeries Collections Account. If and when any Additional Collateral Certificates are added to the Note Issuance Trust, any provisions to allocate the amount set forth in clause (x) of step (9) (Allocation from the DCMT Group One Finance Charge Collections Reallocation Account) to an interchange reallocation account for such Additional Collateral Certificates shall be specified in the documents relating to such addition. The amounts deposited into the DiscoverSeries Collections Account under step (9) and this step (10) are collectively the “Reallocated Finance Charge Amounts”; provided, however, that the Calculation Agent may direct the Master Trust Trustee for the DCMT to retain any funds in DCMT accounts that will be paid to the Master Servicer for the DCMT in accordance with these Cash Flows, and any such amounts shall not be deposited into the DiscoverSeries Collections Account; and provided, further, that any such amounts shall nonetheless be treated as Reallocated Finance Charge Amounts hereunder and allocated as if they had been so deposited.

Appears in 1 contract

Samples: Indenture (Discover Card Master Trust I)

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Allocation from the DCMT Group One Interchange Reallocation Account. For so long as any series issued by the DCMT is outstanding that is not designated as an Interchange Series in accordance with the DCMT Pooling and Servicing Agreement and the series supplement for such series, the Class A Required Cumulative Investor Charged-Off Amount Shortfall shall be reduced by the amount of funds on deposit in the DCMT Group One Interchange Reallocation Account allocable to the Series 2007-CC Collateral Certificate in accordance with Section 9(b)(99(b)(10) of the Series 2007-CC Supplement, and the portion of such amount that is allocable to the DiscoverSeries pursuant to the Indenture shall be deposited into the DiscoverSeries Collections Account. If and when any Additional Collateral Certificates are added to the Note Issuance Trust, any provisions to allocate the amount set forth in clause (x) of step (9) (Allocation from the DCMT Group One Finance Charge Collections Reallocation Account) to an interchange reallocation account for such Additional Collateral Certificates shall be specified in the documents relating to such addition. The amounts deposited into the DiscoverSeries Collections Account under step (9) and this step (10) are collectively the “Reallocated Finance Charge Amounts”; provided, however, that the Calculation Agent may direct the Master Trust Trustee for the DCMT to retain any funds in DCMT accounts that will be allocated to DCMT accounts or paid to the Master Servicer for the DCMT in accordance with these Cash Flows, and any such amounts shall not be deposited into the DiscoverSeries Collections Account; and provided, further, that any such amounts shall nonetheless be treated as Reallocated Finance Charge Amounts hereunder and allocated as if they had been so deposited. The Reallocated Finance Charge Amounts shall be increased by the amount of such deposit. If and when any Additional Collateral Certificates are added to the Note Issuance Trust, any provisions to allocate the amount set forth in clause (x) of step (21) (Allocation from the DCMT Group One Finance Charge Collections Reallocation Account) to an interchange reallocation account for such Additional Collateral Certificates shall be specified in the documents relating to such addition.

Appears in 1 contract

Samples: Indenture (Discover Card Master Trust I)

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