Common use of Budgeted Deposits Clause in Contracts

Budgeted Deposits. (i) Subject to subsection 3.12(d), with respect to each Monthly Period, beginning with the Accumulation Commencement Date, the deposit targeted to be made into the Principal Funding Sub-Account for that Tranche will be the Controlled Accumulation Amount for that Tranche specified in the applicable Terms Document, or if no such amount is specified, beginning with the twelfth Monthly Period before the Monthly Period related to the Scheduled Principal Payment Date of that Tranche of CHASEseries Notes, an amount equal to one-twelfth of the expected Outstanding Dollar Principal Amount of such Tranche of CHASEseries Notes as of such Scheduled Principal Payment Date. (ii) Notwithstanding anything to the contrary in clause (i), on or before the Determination Date immediately preceding the first Business Day of the month that is twelve (12) whole calendar months prior to the Scheduled Principal Payment Date of any Tranche of CHASEseries Notes, and each Determination Date thereafter until the Accumulation Commencement Date, the Servicer will determine the “Accumulation Period Length” which shall equal a number of months not less than the number of whole calendar months reasonably expected by the Servicer to be necessary to accumulate from CHASEseries Available Principal Collections an amount equal to the Nominal Liquidation Amount of such Tranche of CHASEseries Notes; provided, however, that the Accumulation Period Length will not be determined to be less than one whole calendar month; provided further, however, that if the Servicer determines that the Accumulation Period Length will be less than twelve (12) whole calendar months, the Servicer shall on the first Determination Date on which the Accumulation Period Length is determined send written notice to the Indenture Trustee, the Collateral Agent and each Note Rating Agency then rating any Outstanding CHASEseries Notes, which notice shall state the applicable Accumulation Period Length.

Budgeted Deposits. (i) Subject to subsection 3.12(dSection 3.10(d), with respect to each Monthly Period, beginning with the Accumulation Commencement Date, the deposit targeted to be made into the Principal Funding Subsub-Account for that Tranche will be the Controlled Accumulation Period Amount for that Tranche specified in the applicable Terms Document, or if no such amount is specified, beginning with the twelfth Monthly Period before the Monthly Period related to in which the Scheduled Expected Principal Payment Date of that Tranche of CHASEseries NotesNotes occurs, an amount equal to one-twelfth of the expected Outstanding Dollar Principal Amount of such Tranche of CHASEseries Notes as of such Scheduled Expected Principal Payment Date. (ii) Notwithstanding anything to the contrary in clause (i), on or before the Determination Distribution Date immediately preceding the first Business Day of the month that is twelve (12) whole calendar months prior to the Scheduled Expected Principal Payment Date of any Tranche of CHASEseries Notes, and each Determination Date determination date thereafter until the Accumulation Commencement Date, the Servicer Issuer will determine the “Accumulation Period Length” which shall will equal a number of months not less than the number of whole calendar months reasonably expected by such that the Servicer to be necessary to accumulate from CHASEseries Available Accumulation Period Amount for such Tranche for the Monthly Period immediately preceding the Expected Principal Collections an amount Payment Date, when aggregated with the Accumulation Period Amounts for such Tranche for each preceding Monthly Period, will equal to or exceed the Nominal Liquidation Initial Dollar Principal Amount of such Tranche of CHASEseries NotesTranche; provided, however, that the Accumulation Period Length will not be determined to be less than one whole calendar month; provided further, however, that if the Servicer determines that determination of the Accumulation Period Length will may be less than twelve (12) whole calendar months, changed at any time if the Servicer shall on the first Determination Date on which the Accumulation Period Length is determined send written notice to the Indenture Trustee, the Collateral Agent and each Note Rating Agency then rating any Outstanding CHASEseries Notes, which notice shall state the applicable Accumulation Period LengthAgencies provide prior written confirmation that a Ratings Effect will not occur with respect to such change.

Budgeted Deposits. (i) Subject to subsection 3.12(d4.10(d), with respect to each Monthly Period, beginning with the Accumulation Commencement Date, the deposit targeted to be made into the Principal Funding Subsub-Account for that Tranche will be the Controlled Accumulation Amount for that Tranche specified in the applicable Terms Document, or if no such amount is specified, beginning with the twelfth Monthly Period before the Monthly Period related to in which the Scheduled Expected Principal Payment Date of that Tranche of CHASEseries NotesNotes occurs, an amount equal to one-twelfth of the expected Outstanding Dollar Principal Amount of such Tranche of CHASEseries Notes as of such Scheduled Expected Principal Payment Date. (ii) Notwithstanding anything to the contrary in clause (i), on or before the Determination Transfer Date immediately preceding the first Business Day of the month that is twelve (12) whole calendar months prior to the Scheduled Expected Principal Payment Date of any Tranche of CHASEseries Notes, and each Determination Date thereafter until the Accumulation Commencement Date, the Servicer Issuer will determine the “Accumulation Period Length” which shall will equal a the number of whole months not less than the number of whole calendar months reasonably expected by the Servicer Issuer to be necessary to accumulate from CHASEseries WFCardSeries Available Principal Collections Amounts an amount equal to the Nominal Liquidation Amount of such Tranche of CHASEseries Notes; provided, however, that the Accumulation Period Length will not be determined to be less than one whole calendar month; provided further, however, that if the Servicer determines that method for determining the Accumulation Period Length will may be less than twelve (12) whole calendar months, changed at any time the Servicer shall on the first Determination Date on which the Accumulation Period Length is determined send written notice to the Indenture Trustee, the Collateral Agent and each Note Rating Agency then rating any Outstanding CHASEseries Notes, which notice shall state the applicable Accumulation Period LengthCondition is satisfied with respect to such change.

Budgeted Deposits. (i) Subject to subsection 3.12(d), with respect to each Monthly Period, beginning with the Accumulation Commencement Date, the deposit targeted to be made into the Principal Funding Sub-Account for that Tranche will be the Controlled Accumulation Amount for that Tranche specified in the applicable Terms Document, or if no such amount is specified, beginning with the twelfth Monthly Period before the Monthly Period related to the Scheduled Principal Payment Date of that Tranche of CHASEseries Notes, an amount equal to one-twelfth of the expected Outstanding Dollar Principal Amount of such Tranche of CHASEseries Notes as of such Scheduled Principal Payment Date. (ii) Notwithstanding anything to the contrary in clause (i), on or before the Determination Date immediately preceding the first Business Day business day of the month that is twelve (12) whole calendar months prior to the Scheduled Principal Payment Date of any Tranche of CHASEseries Notes, and each Determination Date thereafter until the Accumulation Commencement Date, the Servicer will determine the “"Accumulation Period Length” " which shall equal a number of months not less than the number of whole calendar months reasonably expected by the Servicer to be necessary to accumulate from CHASEseries Available Principal Collections an amount equal to the Nominal Liquidation Amount of such Tranche of CHASEseries Notes; provided, however, that the Accumulation Period Length will not be determined to be less than one whole calendar month; provided further, however, that if the Servicer determines that the Accumulation Period Length will be less than twelve (12) whole calendar months, the Servicer shall on the first Determination Date on which the Accumulation Period Length is determined send written notice to the Indenture Trustee, the Collateral Agent and each Note Rating Agency then rating any Outstanding CHASEseries Notes, which notice shall state the applicable Accumulation Period Length.

Budgeted Deposits. (i) Subject to subsection 3.12(dSection 3.09(c), with respect to each Monthly Period, beginning with the Accumulation Commencement Date, the deposit targeted to be made into the Principal Funding Subsub-Account for that Tranche Class will be the Controlled Accumulation Amount for that Tranche specified in the applicable Terms Document, or if no such amount is specified, beginning with the twelfth Monthly Period before the Monthly Period related to the Scheduled Principal Payment Date of that Tranche of CHASEseries Notes, an amount equal to one-twelfth of the expected Outstanding Dollar Principal Amount of such Tranche of CHASEseries Notes as of such Scheduled Principal Payment DateClass. (ii) Notwithstanding anything to the contrary in clause (i), on or before the Determination Transfer Date immediately preceding the first Business Day of the month that is twelve nine (129) whole calendar months prior to the Scheduled Expected Principal Payment Date of any Tranche of CHASEseries NotesDate, and each Determination Date thereafter until the Accumulation Commencement Date, provided that no Pay Out Event (as defined in the Servicer Series 2004-MC Supplement) has occurred, the Issuer will determine the “Accumulation Period Length” ”, which shall equal will mean a number of months not less than such that the number amount available for distribution of whole calendar months reasonably expected by principal will equal or exceed the Servicer aggregate Outstanding Dollar Principal Amount of the Class A Notes, the Class B Notes and the Class C Notes, assuming for this purpose that (1) the payment rate with respect to be necessary to accumulate from CHASEseries Available Principal Collections an amount equal to (as defined in the Nominal Liquidation Amount Pooling and Servicing Agreement) remains constant at the lowest level of such Tranche payment rate during the nine preceding Monthly Periods (or such lower payment rate as the [Administrator] may select), (2) the total amount of CHASEseries NotesPrincipal Receivables in the Master Trust (and the principal amount on deposit in the Excess Funding Account, if any) remains constant at the level on such date of determination, (3) no Pay Out Event (as defined in the Pooling and Servicing Agreement) with respect to any Series (as defined in the Pooling and Servicing Agreement) will subsequently occur and (4) no additional series (other than any series being issued on such date of determination) will be subsequently issued; provided, however, that the Accumulation Period Length will not be determined to be less than one whole calendar month; provided further, however, that if the Servicer determines that determination of the Accumulation Period Length will may be less than twelve (12) whole calendar months, changed at any time if the Servicer shall on the first Determination Date on which the Accumulation Period Length is determined send written notice to the Indenture Trustee, the Collateral Agent and each Note Rating Agency then rating any Outstanding CHASEseries Notes, which notice shall state the applicable Accumulation Period LengthAgencies provide prior written confirmation that a Ratings Effect will not occur with respect to such change.

Budgeted Deposits. (i) Subject to subsection 3.12(d), with respect to each Monthly Period, beginning with the Accumulation Commencement Date, the deposit targeted to be made into the Principal Funding Sub-Account for that Tranche will be the Controlled Accumulation Accumu lation Amount for that Tranche specified in the applicable Terms Document, or if no such amount is specified, beginning with the twelfth Monthly Period before the Monthly Period related to the Scheduled Principal Payment Date of that Tranche of CHASEseries ONEseries Notes, an amount equal to one-twelfth of the expected Outstanding Dollar Principal Amount of such Tranche of CHASEseries ONEseries Notes as of such Scheduled Principal Payment Date. (ii) Notwithstanding anything to the contrary in clause (i), on or before the Determination Date immediately preceding the first Business Day business day of the month that is twelve (12) whole calendar months prior to the Scheduled Principal Payment Date of any Tranche of CHASEseries ONEseries Notes, and each Determination Date thereafter until the Accumulation Accumula tion Commencement Date, the Servicer will determine the “"Accumulation Period Length” " which shall equal a number of months not less than the number of whole calendar months reasonably expected by the Servicer to be necessary to accumulate from CHASEseries ONEseries Available Principal Collections an amount equal to the Nominal Liquidation Amount of such Tranche of CHASEseries ONEseries Notes; provided, however, that the Accumulation Period Length will not be determined to be less than one whole calendar month; provided further, however, that if the Servicer determines that the Accumulation Period Length will be less than twelve (12) whole calendar months, the Servicer shall on the first Determination Date on which the Accumulation Period Length is determined send written notice to the Indenture Trustee, the Collateral Agent and each Note Rating Agency then rating any Outstanding CHASEseries ONEseries Notes, which notice shall state the applicable Accumulation Accumu lation Period Length.

Budgeted Deposits. (i) Subject to subsection 3.12(d), with respect to each Monthly Period, beginning with the Accumulation Commencement Date, the deposit targeted to be made into the Principal Funding Sub-Account for that Tranche will be the Controlled Accumulation Amount for that Tranche specified in the applicable Terms Document, or if no such amount is specified, beginning with the twelfth Monthly Period before the Monthly Period related to the Scheduled Principal Payment Date of that Tranche of CHASEseries WachoviaSeries Notes, an amount equal to one-twelfth of the expected Outstanding Dollar Principal Amount of such Tranche of CHASEseries WachoviaSeries Notes as of such Scheduled Principal Payment Date. (ii) Notwithstanding anything to the contrary in clause (i), on or before the Determination Date immediately preceding the first Business Day business day of the month that is twelve (12) whole calendar months prior to the Scheduled Principal Payment Date of any Tranche of CHASEseries WachoviaSeries Notes, and each Determination Date thereafter until the Accumulation Commencement Date, the Servicer will determine the “Accumulation Period Length” which shall equal a number of months not less than the number of whole calendar months reasonably expected by the Servicer to be necessary to accumulate from CHASEseries WachoviaSeries Available Principal Collections an amount equal to the Nominal Liquidation Amount of such Tranche of CHASEseries WachoviaSeries Notes; provided, however, that the Accumulation Period Length will not be determined to be less than one whole calendar month; provided further, however, that if the Servicer determines that the Accumulation Period Length will be less than twelve (12) whole calendar months, the Servicer shall on the first Determination Date on which the Accumulation Period Length is determined send written notice to the Indenture Trustee, the Collateral Agent Trustee and each Note Rating Agency then rating any Outstanding CHASEseries WachoviaSeries Notes, which notice shall state the applicable Accumulation Period Length.

Budgeted Deposits. (i) Subject to subsection 3.12(dSection 3.10(d), with respect to each Monthly Period, beginning with the Accumulation Commencement Date, the deposit targeted to be made into the Principal Funding Subsub-Account for that Tranche will be the Controlled Accumulation Period Amount for that Tranche specified in the applicable Terms Documentterms document, or if no such amount is specified, beginning with the twelfth Monthly Period before the Monthly Period related to in which the Scheduled Expected Principal Payment Date of that Tranche of CHASEseries NotesNotes occurs, an amount equal to one-twelfth of the expected Outstanding Dollar Principal Amount of such Tranche of CHASEseries Notes as of such Scheduled Expected Principal Payment Date. (ii) Notwithstanding anything to the contrary in clause (i), on or before the Determination Distribution Date immediately preceding the first Business Day of the month that is twelve (12) whole calendar months prior to the Scheduled Expected Principal Payment Date of any Tranche of CHASEseries Notes, and each Determination Date determination date thereafter until the Accumulation Commencement Date, the Servicer Issuer will determine the “"Accumulation Period Length” " which shall will equal a number of months not less than the number of whole calendar months reasonably expected by such that the Servicer to be necessary to accumulate from CHASEseries Available Accumulation Period Amount for such Tranche for the Monthly Period immediately preceding the Expected Principal Collections an amount Payment Date, when aggregated with the Accumulation Period Amounts for such Tranche for each preceding Monthly Period, will equal to or exceed the Nominal Liquidation Initial Dollar Principal Amount of such Tranche of CHASEseries NotesTranche; provided, however, that the Accumulation Period Length will not be determined to be less than one whole calendar month; provided further, however, that if the Servicer determines that determination of the Accumulation Period Length will may be less than twelve (12) whole calendar months, changed at any time if the Servicer shall on the first Determination Date on which the Accumulation Period Length is determined send written notice to the Indenture Trustee, the Collateral Agent and each Note Rating Agency then rating any Outstanding CHASEseries Notes, which notice shall state the applicable Accumulation Period LengthAgencies provide prior written confirmation that a Ratings Effect will not occur with respect to such change.

Budgeted Deposits. (i) Subject to subsection 3.12(d), with respect to each Monthly Period, beginning with the Accumulation Commencement Date, the deposit targeted to be made into the Principal Funding Sub-Account for that Tranche will be the Controlled Accumulation Amount for that Tranche specified in the applicable Terms Document, or if no such amount is specified, beginning with the twelfth Monthly Period before the Monthly Period related to the Scheduled Principal Payment Date of that Tranche of CHASEseries ONEseries Notes, an amount equal to one-twelfth of the expected Outstanding Dollar Principal Amount of such Tranche of CHASEseries ONEseries Notes as of such Scheduled Principal Payment Date. (ii) Notwithstanding anything to the contrary in clause (i), on or before the Determination Date immediately preceding the first Business Day business day of the month that is twelve (12) whole calendar months prior to the Scheduled Principal Payment Date of any Tranche of CHASEseries ONEseries Notes, and each Determination Date thereafter until the Accumulation Commencement Date, the Servicer will determine the “Accumulation Period Length” "ACCUMULATION PERIOD LENGTH" which shall equal a number of months not less than the number of whole calendar months reasonably expected by the Servicer to be necessary to accumulate from CHASEseries ONEseries Available Principal Collections an amount equal to the Nominal Liquidation Amount of such Tranche of CHASEseries ONEseries Notes; providedPROVIDED, howeverHOWEVER, that the Accumulation Period Length will not be determined to be less than one whole calendar month; provided furtherPROVIDED FURTHER, howeverHOWEVER, that if the Servicer determines that the Accumulation Period Length will be less than twelve (12) whole calendar months, the Servicer shall on the first Determination Date on which the Accumulation Period Length is determined send written notice to the Indenture Trustee, the Collateral Agent and each Note Rating Agency then rating any Outstanding CHASEseries ONEseries Notes, which notice shall state the applicable Accumulation Period Length.

Budgeted Deposits. (i) Subject to subsection 3.12(d), with respect to each Monthly Period, beginning with the Accumulation Commencement Date, the deposit targeted to be made into the Principal Funding Sub-Account for that Tranche will be the Controlled Accumulation Amount for that Tranche specified in the applicable Terms Document, or if no such amount is specified, beginning with the twelfth Monthly Period before the Monthly Period related to the Scheduled Principal Payment Date of that Tranche of CHASEseries ONEseries Notes, an amount equal to one-twelfth of the expected Outstanding Dollar Principal Amount of such Tranche of CHASEseries ONEseries Notes as of such Scheduled Principal Payment Date. (ii) Notwithstanding anything to the contrary in clause (i), on or before the Determination Date immediately preceding the first Business Day business day of the month that is twelve (12) whole calendar months prior to the Scheduled Principal Payment Date of any Tranche of CHASEseries ONEseries Notes, and each Determination Date thereafter until the Accumulation Commencement Date, the Servicer will determine the “"Accumulation Period Length” " which shall equal a number of months not less than the number of whole calendar months reasonably expected by the Servicer to be necessary to accumulate from CHASEseries ONEseries Available Principal Collections an amount equal to the Nominal Liquidation Amount of such Tranche of CHASEseries ONEseries Notes; provided, however, that the Accumulation Period Length will not be determined to be less than one whole calendar month; provided further, however, that if the Servicer determines that the Accumulation Period Length will be less than twelve (12) whole calendar months, the Servicer shall on the first Determination Date on which the Accumulation Period Length is determined send written notice to the Indenture Trustee, the Collateral Agent and each Note Rating Agency then rating any Outstanding CHASEseries ONEseries Notes, which notice shall state the applicable Accumulation Period Length.

Budgeted Deposits. (i) Subject to subsection 3.12(dSection 3.10(d), with respect to each Monthly Period, beginning with the Accumulation Commencement Date, the deposit targeted to be made into the Principal Funding Subsub-Account for that Tranche will be the Controlled Accumulation Period Amount for that Tranche specified in the applicable Terms Document, or if no such amount is specified, beginning with the twelfth Monthly Period before the Monthly Period related to in which the Scheduled Expected Principal Payment Date of that Tranche of CHASEseries NotesNotes occurs, an amount equal to one-twelfth of the expected Outstanding Dollar Principal Amount of such Tranche of CHASEseries Notes as of such Scheduled Expected Principal Payment Date. (ii) Notwithstanding anything to the contrary in clause (i), on or before the Determination Distribution Date immediately preceding the first Business Day of the month that is twelve (12) whole calendar months prior to the Scheduled Expected Principal Payment Date of any Tranche of CHASEseries Notes, and each Determination Date determination date thereafter until the Accumulation Commencement Date, the Servicer Issuer will determine the “"Accumulation Period Length” " which shall will equal a number of months not less than the number of whole calendar months reasonably expected by such that the Servicer to be necessary to accumulate from CHASEseries Available Accumulation Period Amount for such Tranche for the Monthly Period immediately preceding the Expected Principal Collections an amount Payment Date, when aggregated with the Accumulation Period Amounts for such Tranche for each preceding Monthly Period, will equal to or exceed the Nominal Liquidation Initial Dollar Principal Amount of such Tranche of CHASEseries NotesTranche; provided, however, that the Accumulation Period Length will not be determined to be less than one whole calendar month; provided further, however, that if the Servicer determines that determination of the Accumulation Period Length will may be less than twelve (12) whole calendar months, changed at any time if the Servicer shall on the first Determination Date on which the Accumulation Period Length is determined send written notice to the Indenture Trustee, the Collateral Agent and each Note Rating Agency then rating any Outstanding CHASEseries Notes, which notice shall state the applicable Accumulation Period LengthAgencies provide prior written confirmation that a Ratings Effect will not occur with respect to such change.

Budgeted Deposits. (i) Subject to subsection 3.12(d), with With respect to each Monthly Due Period, beginning with the Accumulation Commencement Datetwelfth Due Period before the Expected Principal Payment Date of a tranche of Class A Notes but excluding the final Due Period before the Expected Principal Payment Date of such tranche of Class A Notes, the deposit targeted to be made into the Principal Funding Subsub-Account for that Tranche tranche will be the Controlled Accumulation Amortization Amount for that Tranche tranche specified in the applicable Terms Documentterms document, or if no such amount is specified, beginning with the twelfth Monthly Period before the Monthly Period related to the Scheduled Principal Payment Date of that Tranche of CHASEseries Notes, an amount specified equal to one-twelfth of the expected Outstanding Dollar Principal anticipated Nominal Liquidation Amount of such Tranche tranche of CHASEseries Notes as of such Scheduled its Expected Principal Payment Date. Subject to clause (ii) and SECTION 521, these deposits will be made on the Monthly Principal Date. (ii) Notwithstanding anything to the contrary in clause (i), on or but subject to Section 521, the Issuer may postpone the date of the targeted deposits under clauses (i) under the following circumstances: (A) Immediately before the Determination twelfth full Due Period before the Expected Principal Payment Date immediately set for every Class A Note, the Issuer will calculate the minimum monthly principal expected to be paid to all Certificates (including the Collateral Certificate) issued by the Master Trust. (B) This calculation will be made by multiplying the lowest of the monthly principal payment rates for principal receivables in the Master Trust, in the case of a Single Issuance Series, during the eleven months, and in the case of a Multiple Issuance Series, during the twelve months, preceding the first Business Day date of calculation by the month initial invested amounts of all Master Trust Certificates (other than Certificates representing Excluded Master Trust Series or series that is twelve (12) whole calendar months prior are partially Excluded Master Trust Series, to the Scheduled extent of such exclusion. (C) Using the minimum monthly principal amount expected to be paid for principal receivables in the Master Trust, the Issuer will next compare that amount to the invested amounts of all Master Trust Certificates (including the Collateral Certificate, but excluding any Certificates representing Excluded Master Trust Series or series that are partially Excluded Master Trust Series, to the extent of such exclusion) with their expected maturity dates and the Outstanding Dollar Principal Amounts of all tranches of Notes with Expected Principal Payment Dates in the eleven or twelve, as applicable, Due Periods preceding the Expected Principal Payment Date of any Tranche the tranche of CHASEseries Notes, Class A Notes for which the calculation is being performed. If the comparison reveals that the date of the targeted deposits can be postponed for that tranche of Class A Notes (with a corresponding increase in the amount of each deposit targeted) and each Determination Date thereafter until the Accumulation Commencement Issuer expects to receive Principal Collections adequate to repay that tranche of Class A Note in full on its Expected Principal Payment Date, then the Servicer Issuer may designate a later Due Period (and correspondingly increased Controlled Amortization Amount) with respect to which deposits to the Principal Funding sub-Account for that tranche of Class A Notes will determine begin. The comparison made will assume that the “Accumulation Period Length” which shall equal a number dates required for collection of months not less than the number of whole calendar months reasonably expected by the Servicer to be necessary to accumulate from CHASEseries Available Principal Collections an amount equal are postponed to the Nominal Liquidation Amount maximum extent permitted by all Master Trust Certificates and tranches of such Tranche of CHASEseries Notes; provided, however, that the Accumulation Period Length will not be determined to be less than one whole calendar month; provided further, however, that if the Servicer determines that the Accumulation Period Length will be less than twelve (12) whole calendar months, the Servicer shall on the first Determination Date on which the Accumulation Period Length is determined send written notice to the Indenture Trustee, the Collateral Agent and each Note Rating Agency then rating any Outstanding CHASEseries Notes, which notice shall state the applicable Accumulation Period Length.