Allocations During the Rapid Amortization Period. During the ------------------------------------------------ Rapid Amortization Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, direct the Trustee to transfer from the Collection Account the following amounts as set forth below: (i) Deposit in the Finance Charge Account an amount equal to the sum of (x) the product of (A) the Floating Investor Percentage on the Date of Processing of such Collections and (B) the aggregate amount of such Collections processed in respect of Finance Charge Receivables on such Date of Processing and (y) the proceeds of the sale of any Interest Rate Cap pursuant to subsection 4.11(g). (ii) Deposit in the Principal Account an amount equal to the Principal Allocation; provided, however, that if the Principal -------- ------- Allocation on any date exceeds the Investor Interest, the amount of such excess shall be treated as Shared Principal Collections allocable to other Series and applied in accordance with Section 4.2(e) of the Agreement; provided, further, that if on any Date of Processing the -------- ------- Monthly Total Principal Allocation for such Date of Processing in such Monthly Period is less than the Investor Interest, then Shared Principal Collections from other Series, if any, allocable to the Series 1999-1 Investor Certificates pursuant to Section 4.2(e) of the Agreement will be deposited in the Principal Account to the extent of such shortfall.
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Allocations During the Rapid Amortization Period. During the ------------------------------------------------ Rapid Amortization Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, direct the Trustee to transfer from the Collection Account the following amounts as set forth below:
(i) Deposit in the Finance Charge Account an amount equal to the sum of (x) the product of (A) the Floating Investor Percentage on the Date of Processing of such Collections and (B) the aggregate amount of such Collections processed in respect of Finance Charge Receivables on such Date of Processing and (y) the proceeds of the sale of any Interest Rate Cap pursuant to subsection 4.11(g).
(ii) Deposit in the Principal Account an amount equal to the Principal Allocation; provided, however, that if the Principal -------- ------- Allocation on any date exceeds the Investor Interest, the amount of such excess shall be treated as Shared Principal Collections allocable to other Series and applied in accordance with Section 4.2(e) of the Agreement; provided, further, that if on any Date of Processing the -------- ------- Monthly Total Principal Allocation for such Date of Processing in such Monthly Period is less than the aggregate outstanding principal amount of the Series 1997-2 Investor InterestCertificates, then Shared Principal Collections from other Series, if any, allocable to the Series 19991997-1 2 Investor Certificates pursuant to Section 4.2(e) of the Agreement will be deposited in the Principal Account to the extent of such shortfall.
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Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)
Allocations During the Rapid Amortization Period. During the ------------------------------------------------ Rapid Amortization Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, direct the Trustee to transfer from the Collection Account the following amounts as set forth below:
(i) Deposit in the Finance Charge Account an amount equal to the sum of (x) the product of (A) the Floating Investor Percentage on the Date of Processing of such Collections and (B) the aggregate amount of such Collections processed in respect of Finance Charge Receivables on such Date of Processing and (y) the proceeds of the sale of any Interest Rate Cap pursuant to subsection 4.11(g).
(ii) Deposit in the Principal Account an amount equal to the Principal Allocation; provided, however, that if the Principal -------- ------- Allocation on any date exceeds the Investor Interest, the amount of such excess shall be treated as Shared Principal Collections allocable to other Series and applied in accordance with Section 4.2(e) of the Agreement; provided, further, that if on any Date of Processing the -------- ------- Monthly Total Principal Allocation for such Date of Processing in such Monthly Period is less than the Investor Interest, then Shared Principal Collections from other Series, if any, allocable to the Series 1999-1 Investor Certificates pursuant to Section 4.2(e) of -39- the Agreement will be deposited in the Principal Account to the extent of such shortfall.
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Allocations During the Rapid Amortization Period. During the ------------------------------------------------ Rapid Amortization Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, direct the Trustee to transfer from the Collection Account the following amounts as set forth below:
(i) Deposit in the Finance Charge Account an amount equal to the sum of (x) the product of (A) the Floating Investor Percentage on the Date of Processing of such Collections and (B) the aggregate amount of such Collections processed in respect of Finance Charge Receivables on such Date of Processing and (y) the proceeds of the sale of any Interest Rate Cap pursuant to subsection 4.11(g).
(ii) Deposit in the Principal Account an amount equal to the Principal Allocation; provided, however, that if the Principal -------- ------- Allocation on any date exceeds the Investor Interest, the amount of such excess shall be treated as Shared Principal Collections allocable to other Series and applied in accordance with Section 4.2(e) of the Agreement; provided, further, that if on any Date of Processing the -------- ------- Monthly Total Principal Allocation for such Date of Processing in such Monthly Period is less than the aggregate outstanding principal amount of the Series 1997-2 Investor InterestCertificates, then Shared Principal Collections from other Series, if any, allocable to the Series 19991997-1 2 Investor Certificates pursuant to Section 4.2(e) of the Agreement will be deposited in the Principal Account to the extent of such shortfall.
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Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)
Allocations During the Rapid Amortization Period. During the ------------------------------------------------ Rapid Amortization Period, the Servicer shall, prior to the close of business on the each day any Collections are deposited in the Collection Account, direct allocate to the Trustee to transfer Certificateholders or the Holder of the Exchangeable Seller Certificate and pay or deposit from the applicable subaccount of the Collection Account the following amounts as set forth below:
(i) Deposit in Allocate to the Finance Charge Account Sub-subaccount an amount equal to the sum of (x) the product of (A) the Floating Investor Percentage on the Date of Processing of such Collections and (B) the aggregate amount of Finance Charge Collections for such Date of Processing.
(ii) Allocate to the Principal Collections Sub-subaccount an amount equal to the product of (A) the Investor Percentage on the Date of Processing of such Collections and (B) the aggregate amount of such Collections processed in respect of Finance Charge Principal Receivables on such Date of Processing and (y) the proceeds of the sale of any Interest Rate Cap pursuant to subsection 4.11(g).
(ii) Deposit in the Principal Account an amount equal to the Principal AllocationProcessing; provided, however, that if after the date on which the Investor Amount minus the amount on deposit in the Principal -------- ------- Allocation on any date exceeds the Investor InterestCollections Sub- subaccount equals zero, the amount of such excess determined in accordance with this subparagraph (ii) shall be treated as Shared Principal Collections allocable to other Series and applied in accordance with Section 4.2(e) of the Agreementsubsection 4.3(g); provided, further, that if on any Date of Processing after giving effect to the -------- ------- Monthly Total Principal Allocation allocation set forth in this subsection 4.4(c)(ii) for such Date of Processing in such Monthly Period the amount credited to the Principal Collections Sub-subaccount is less than the Investor InterestAmount, then Shared Principal Collections from other Series, if any, allocable to the Series 19991995-1 Investor A Certificates pursuant to Section 4.2(esubsection 4.3(g) of the Agreement will be deposited in the Principal Account Collections Sub- subaccount to the extent of such shortfall.
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Samples: Pooling and Servicing Agreement (Spiegel Master Trust)
Allocations During the Rapid Amortization Period. During the Rapid ------------------------------------------------ Rapid Amortization Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, direct the Trustee to transfer from the Collection Account the following amounts as set forth below:
(i) Deposit in the Finance Charge Account an amount equal to the sum of (x) the product of (A) the Floating applicable Investor Percentage on the Date of Processing of such Collections and (B) the aggregate amount of such Collections processed in respect of Finance Charge Receivables on such Date of Processing and (y) the proceeds of the sale of any Interest Rate Cap pursuant to subsection 4.11(g).
(ii) Deposit in the Principal Account an amount equal to the Principal Allocation; provided, however, that if after the Principal date on which the Investor -------- ------- Allocation on any date exceeds the Investor InterestInterest has been reduced to zero, the amount of such excess determined in accordance with this subparagraph (ii) shall be treated as Shared Principal Collections allocable to other Series and applied in accordance with Section 4.2(e) of the Agreement; provided, further, that if on any Date of Processing the -------- ------- Monthly Total Principal -------- ------- Allocation for such Date of Processing in such Monthly Period is less than the aggregate outstanding principal amount of the Series 1997-1 Investor InterestCertificates, then Shared Principal Collections from other Series, if any, allocable to the Series 19991997-1 Investor Certificates pursuant to Section 4.2(e) of the Agreement will be deposited in the Principal Account to the extent of such shortfall.
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Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)
Allocations During the Rapid Amortization Period. During the ------------------------------------------------ Rapid Amortization Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, direct the Trustee to transfer from the Collection Account the following amounts as set forth below:
(i) Deposit in the Finance Charge Account an amount equal to the sum of (x) the product of (A) the Floating Investor Percentage on the Date of Processing of such Collections and (B) the aggregate amount of such Collections processed in respect of Finance Charge Receivables on such Date of Processing and (y) the proceeds of the sale of any Interest Rate Cap pursuant to subsection 4.11(g).
(ii) Deposit in the Principal Account an amount equal to the Principal Allocation; provided, however, that if the Principal -------- ------- Principal Allocation on any date exceeds the Investor Interest, the amount of such excess shall be treated as Shared Principal Collections allocable to other Series and applied in accordance with Section 4.2(e) of the Agreement; provided, further, that if -------- ------- on any Date of Processing the -------- ------- Monthly Total Principal Allocation for such Date of Processing in such Monthly Period is less than the aggregate outstanding principal amount of the Series 1998-1 Investor InterestCertificates, then Shared Principal Collections from other Series, if any, allocable to the Series 19991998-1 Investor Certificates pursuant to Section 4.2(e) of the Agreement will be deposited in the Principal Account to the extent of such shortfall.
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Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)
Allocations During the Rapid Amortization Period. During the ------------------------------------------------ Rapid Amortization Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, direct the Trustee to transfer from the Collection Account the following amounts as set forth below:
(i) Deposit in the Finance Charge Account an amount equal to the sum of (x) the product of (A) the Floating Investor Percentage on the Date of Processing of such Collections and (B) the aggregate amount of such Collections processed in respect of Finance Charge Receivables on such Date of Processing and (y) the proceeds of the sale of any Interest Rate Cap pursuant to subsection 4.11(g).
(ii) Deposit in the Principal Account an amount equal to the Principal Allocation; provided, however, that if the Principal -------- ------- Allocation on any date exceeds the Investor Interest, the amount of such excess shall be treated as Shared Principal Collections allocable to other Series and applied in accordance with Section 4.2(e) of the Agreement; provided, further, that if on any Date of Processing the -------- ------- Monthly Total Principal Allocation for such Date of Processing in such Monthly Period is less than the Investor Interest, then Shared Principal Collections from other Series, if any, allocable to the Series 19991998-1 Investor Certificates pursuant to Section 4.2(e) of the Agreement will be deposited in the Principal Account to the extent of such shortfall.
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Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)
Allocations During the Rapid Amortization Period. During the ------------------------------------------------ Rapid Amortization Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, direct the Trustee to transfer allocate to the Certificateholders or the Holder of the Exchangeable Seller Certificate and pay from the Collection Account or the Principal Account, as applicable, the following amounts as set forth below:
(i) Deposit in An amount from the Finance Charge Collection Account an amount equal to the sum of (x) the product of (A) the Floating Investor Percentage on the Date of Processing of such Collections and (B) A-9 27 the aggregate amount of Collections of Finance Charge Receivables for such Date of Processing for payment as provided herein.
(ii) Deposit in the Principal Account an amount equal to the product of (A) the Investor Percentage on the Date of Processing of such Collections and (B) the aggregate amount of such Collections processed in respect of Finance Charge Principal Receivables on such Date of Processing and (y) the proceeds of the sale of any Interest Rate Cap pursuant to subsection 4.11(g).
(ii) Deposit in the Principal Account an amount equal to the Principal Allocationdate; provided, however, that if after the date on which the Adjusted Investor Amount minus the amount on deposit in the Principal -------- ------- Allocation on any date exceeds the Investor InterestAccount has been reduced to zero, the amount of such excess shall be treated as Shared Principal Collections allocable to other Series and applied determined in accordance with Section 4.2(ethis subparagraph (ii) of the Agreementshall be paid as provided in subsection 4.4(b)(iii); provided, further, that if on any Date date of Processing processing after giving effect to the -------- ------- Monthly Total Principal Allocation allocation set forth in this subsection 4.4(c)(ii) for such Date of Processing in such Monthly Period the amount credited to the Principal Account is less than the Adjusted Investor InterestAmount, then Shared Principal Collections from other Series, if any, allocable to the Series 19991998-1 Investor Certificates pursuant to Section 4.2(e) of the Agreement will be deposited in the Principal Collections Account to the extent of such shortfall.
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