Allocation Percentage. On each Transfer Date, the Transferor shall pay to the Servicer, and the Servicer shall deposit into the Collection Account, in immediately available funds, the amount of Interchange to be so included as Series 1997-1 Allocable Finance Charge Collections with respect to the preceding Monthly Period and such Interchange shall be treated as a portion of Series 1997-1 Allocable Finance Charge Collections for all purposes of this Supplement and the Agreement. Notwithstanding the above, if the Rating Agency Condition is satisfied with respect thereto, the Transferor may, in lieu of transferring Interchange as set forth above, designate Discount Option Receivables pursuant to Section 2.12 of the Agreement in an amount approximately equal to the then current Interchange with respect to the Accounts.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (At&t Universal Funding Corp), Partners First Receivables Funding Corp, Credit Card Receivables Funding Corp
Allocation Percentage. On each Transfer Date, the Transferor shall pay to the Servicer, and the Servicer shall deposit into the Collection Account, in immediately available funds, the amount of Interchange to be so included as Series 19971996-1 3 Allocable Finance Charge Collections with respect to the preceding Monthly Period and such Interchange shall be treated as a portion of Series 19971996-1 3 Allocable Finance Charge Collections for all purposes of this Supplement and the Agreement. Notwithstanding the above, if the Rating Agency Condition is satisfied with respect thereto, the Transferor may, in lieu of transferring Interchange as set forth above, designate Discount Option Receivables pursuant to Section 2.12 of the Agreement in an amount approximately equal to the then current Interchange with respect to the Accounts.. ARTICLE IV Rights of Series 1996-3 Certificateholders and Allocation and Application of Collections
Appears in 1 contract
Samples: Pooling and Servicing Agreement (At&t Universal Card Master Trust)
