Common use of Application of PSL Revenues for Processing Costs or Chargebacks Clause in Contracts

Application of PSL Revenues for Processing Costs or Chargebacks. In the event that amounts in the Clearing Account as provided in the XXXX or, upon the funding thereof, the PSL Cost and Expense subaccount, are not sufficient for the funding of Processing Costs or Chargebacks (an “Insufficiency Event”), amounts in the Authority PSL-Sourced Proceeds Account may be applied to the payment of such amounts as follows: (a) Upon each Insufficiency Event, the Calculation Agent shall deliver to the Trust, the Collateral Agent, the Depositary Bank and each depositary bank specified under the Deposit and Disbursement Agreement a form in the form of Exhibit C; (b) Thereafter, the Depositary Bank shall withdraw the amount specified for withdrawal in such form from the Authority PSL-Sourced Proceeds Account in accordance with the instructions delivered pursuant to Section 3.4(a) above, and transfer such amount to the Clearing Account; and (c) Thereafter the Authority Distribution Percentage shall be as specified in such Exhibit C until delivery of the next Exhibit C.

Application of PSL Revenues for Processing Costs or Chargebacks. In the event that amounts in the Clearing Account as provided in the XXXX or, upon the funding thereof, the PSL Cost and Expense subaccount, are not sufficient for the funding of Processing Costs or Chargebacks (an “Insufficiency Event”), amounts in the Authority PSL-Sourced Proceeds Account may be applied to the payment of such amounts as follows: (a) Upon each Insufficiency Event, the Calculation Agent shall deliver to the Trust, the Collateral Agent, the Depositary Bank and each depositary bank specified under the Deposit and Disbursement Agreement a form in the form of Exhibit C; (b) Thereafter, the Depositary Bank shall withdraw the amount specified for withdrawal in such form from the Authority PSL-Sourced Proceeds Account in accordance with the instructions delivered pursuant to Section 3.4(a) above, and transfer such amount to the Clearing Account; and (c) Thereafter the Authority Distribution Percentage shall be as specified in such Exhibit C until delivery of the next Exhibit C.

Application of PSL Revenues for Processing Costs or Chargebacks. In the event that amounts in the Clearing Account Account[ as provided in the XXXX XXXX] or, upon the funding thereof, the PSL Cost and Expense subaccount, are not sufficient for the funding of Processing Costs or Chargebacks (an “Insufficiency Event”), amounts in the Authority PSL-Sourced Proceeds Account may be applied to the payment of such amounts as follows: (a) Upon each Insufficiency Event, the Calculation Agent shall deliver to the Trust, the Collateral Agent, the Depositary Bank and each depositary bank specified under the Deposit and Disbursement Agreement a form in the form of Exhibit C; (b) Thereafter, the Depositary Bank shall withdraw the amount specified for withdrawal in such form from the Authority PSL-Sourced Proceeds Account in accordance with the instructions delivered pursuant to Section 3.4(a) above, and transfer such amount to the Clearing Account; and (c) Thereafter the Authority Distribution Percentage shall be as specified in such Exhibit C until delivery of the next Exhibit C.