Allocations of Finance Charge Collections and the Default Amount. (a) With respect to each Monthly Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to each Series of Notes an amount equal to the product of (i) the Floating Allocation Percentage for such Monthly Period for such Series and (ii) the Finance Charge Collections for such Monthly Period. (b) With respect to each Monthly Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to each Series of Notes an amount equal to the product of (i) the Floating Allocation Percentage for such Monthly Period for such Series and (ii) the Default Amount for such Monthly Period.
Appears in 5 contracts
Samples: Indenture (American Express Receivables Financing Corp VIII LLC), Second Amended and Restated Indenture (American Express Receivables Financing Corp VIII LLC), Indenture (American Express Receivables Financing Corp VIII LLC)
Allocations of Finance Charge Collections and the Default Amount. (a) With respect to each Monthly Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to each Series of Notes an amount equal to the product of (i) the Floating Allocation Percentage for Finance Charge Collections for such Monthly Period for such Series and (ii) the Finance Charge Collections for such Monthly Period.
(b) With respect to each Monthly Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to each Series of Notes an amount equal to the product of (i) the Floating Allocation Percentage for the Default Amount for such Monthly Period for such Series and (ii) the Default Amount for such Monthly Period.
Appears in 3 contracts
Samples: Transfer and Servicing Agreement (American Express Issuance Trust), Transfer and Servicing Agreement (American Express Issuance Trust), Transfer and Servicing Agreement (American Express Issuance Trust)
Allocations of Finance Charge Collections and the Default Amount. (a) With respect to each Monthly Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to each Series of Notes an amount equal to the product of of
(i) the Floating Allocation Percentage for such Monthly Period for such Series and (ii) the Finance Charge Collections for such Monthly Period.
(b) With respect to each Monthly Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to each Series of Notes an amount equal to the product of of
(i) the Floating Allocation Percentage for such Monthly Period for such Series and (ii) the Default Amount for such Monthly Period.
Appears in 1 contract
Samples: Trust Indenture
