Calculation of Prefunding Target Amount. (a) With respect to all Tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period: (i) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class B Notes for any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches of Class A Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period). (ii) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class C Notes for any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period). (b) With respect to all Tranches of Class B Notes, the Prefunding Target Amount means with respect to Class C Notes for any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period). (c) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche of senior notes first exceeds zero, the Issuing Entity will apply Segregated CHASEseries Finance Charge Collections, as set forth in subsection 3.05(a)(i).
Appears in 3 contracts
Samples: Chase Series Indenture Supplement (Chase Card Funding LLC), Chase Series Indenture Supplement (Chase Issuance Trust), Chase Series Indenture Supplement (Chase Issuance Trust)
Calculation of Prefunding Target Amount. (a) With respect to all Tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches any Tranche of Class A Notes with respect to Class B Notes for any day during any Monthly Period is equal to means an amount, not less than zero, equal to the sum of the following amounts:
(i) for each Tranche of Class A Notes with a Required Subordinated Amount of Class B Notes greater than zero, the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Periodrelated Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches of Class B Notes which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches of Class A Notes of which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Periodrelated Distribution Date).;
(ii) The Prefunding Target Amount for Tranches each Tranche of Class A Notes with respect to a Required Subordinated Amount of Class C Notes for any Monthly Period is equal to an amount, not less greater than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Periodrelated Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches of Class C Notes which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the sum of (1) the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the close end of business the preceding Monthly Period which have a Class A Required Subordinated Amount of Class B Notes equal to zero and (2) the aggregate Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly Period (in each case, taking into consideration any deposits or withdrawals to be made on the last day related Distribution Date); and
(iii) for each Tranche of Class A Notes with a Required Subordinated Amount of Class D Notes greater than zero, the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class A Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(b) With respect to all Tranches of Class B Notes, the Prefunding Target Amount means with respect to Class C Notes for any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Periodrelated Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C D Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches of Class D Notes which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the greater of (1) the sum of (X) the aggregate amount Required Subordinated Amount of Class D Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly Period which have a Required Subordinated Amount of Class B Notes equal to zero and (Y) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly Period (in each case, taking into consideration any deposits or withdrawals to be made on the related Distribution Date) and (2) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class C Notes which are Outstanding as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date).
(b) The Prefunding Target Amount for any Tranche of Class B Notes for any day during any Monthly Period means an amount, not less than zero, equal to the sum of the following amounts:
(i) for each Tranche of Class B Notes with a Required Subordinated Amount of Class C Notes greater than zero, the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class B Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (other than Tranches of Class C Notes which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the denominator of which is the sum of (1) the aggregate Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly Period which have a Class A Required Subordinated Amount of Class B Notes equal to zero and (2) the aggregate Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes which are Outstanding as of the close end of business the preceding Monthly Period (in each case, taking into consideration any deposits or withdrawals to be made on the last day related Distribution Date); and
(ii) for each Tranche of Class B Notes with a Required Subordinated Amount of Class D Notes greater than zero, the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class B Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class D Notes (other than Tranches of Class D Notes which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any Note Transfer preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the immediately succeeding denominator of which is the greater of (1) the sum of (X) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly PeriodPeriod which have a Required Subordinated Amount of Class B Notes equal to zero and (Y) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly Period (in each case, taking into consideration any deposits or withdrawals to be made on the related Distribution Date) and (2) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class C Notes which are Outstanding as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date).
(c) The Prefunding Target Amount for any Tranche of Class C Notes with a Required Subordinated Amount of Class D Notes greater than zero for any day during any Monthly Period means an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class C Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class D Notes (other than Tranches of Class D Notes which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the denominator of which is the greater of (1) the sum of (X) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly Period which have a Required Subordinated Amount of Class B Notes equal to zero and (Y) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly Period (in each case, taking into consideration any deposits or withdrawals to be made on the related Distribution Date) and (2) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class C Notes which are Outstanding as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date).
(d) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche of senior notes Notes first exceeds zero, the Issuing Entity Issuer will apply Segregated CHASEseries Finance Charge Collections, as set forth in subsection 3.05(a)(i)notify the Master Trust pursuant to Section 4.05 of the Series 2002-CC Supplement and the Note Rating Agencies of such event.
Appears in 2 contracts
Samples: Card Series Indenture Supplement (Capital One Master Trust), Card Series Indenture Supplement (Capital One Master Trust)
Calculation of Prefunding Target Amount. (a) With respect to all Tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches any Tranche of Class A Notes with respect to Class B Notes for any day during any Monthly Period is equal to means an amount, not less than zero, equal to the sum of the following amounts:
(i) for each Tranche of Class A Notes with a Required Subordinated Amount of Class B Notes greater than zero, the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Periodrelated Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches of Class B Notes which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches of Class A Notes of which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Periodrelated Distribution Date).;
(ii) The Prefunding Target Amount for Tranches each Tranche of Class A Notes with respect to a Required Subordinated Amount of Class C Notes for any Monthly Period is equal to an amount, not less greater than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Periodrelated Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches of Class C Notes which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the sum of (1) the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(b) With respect to all Tranches of which have a Class B Notes, the Prefunding Target Amount means with respect to Class C Notes for any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal A Required Subordinated Amount of Class B Notes as of the close of business on the last day of such Monthly Period equal to zero and (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one2) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(c) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche of senior notes first exceeds zero, the Issuing Entity will apply Segregated CHASEseries Finance Charge Collections, as set forth in subsection 3.05(a)(i).of
Appears in 1 contract
Samples: Card Series Indenture Supplement (Capital One Master Trust)
Calculation of Prefunding Target Amount. (a) With respect to all Tranches tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period:
: (i) The Prefunding Target Amount for Tranches tranches of Class A Notes with respect to Class B Notes for any day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches tranches which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches tranches of Class A Notes of which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate).
(ii) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class C Notes for any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(b) With respect to all Tranches of Class B Notes, the Prefunding Target Amount means with respect to Class C Notes for any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(c) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche of senior notes first exceeds zero, the Issuing Entity will apply Segregated CHASEseries Finance Charge Collections, as set forth in subsection 3.05(a)(i).
Appears in 1 contract
Samples: Indenture Supplement (Mbna Credit Card Master Note Trust)
Calculation of Prefunding Target Amount. (a) With respect to all Tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause clauses (i), (ii) or (iiiii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class B Notes for any day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches of Class A Notes of which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate).
(ii) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class C Notes for any day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate).
(biii) With respect to all The Prefunding Target Amount for Tranches of Class B Notes, the Prefunding Target Amount means A Notes with respect to Class C D Notes for any day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C D Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly Periods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class D Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Transfer Date).
(b) With respect to all Tranches of Class B Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches of Class B Notes with respect to Class C Notes for any day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Transfer Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (other than Tranches which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes of which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Transfer Date).
(ii) The Prefunding Target Amount for Tranches of Class B Notes with respect to Class D Notes for any Note day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Transfer Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class D Notes (other than Tranches which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the immediately succeeding denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class D Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly PeriodPeriod (taking into consideration any deposits or withdrawals to be made on the related Transfer Date).
(c) With respect to all Tranches of Class C Notes, the Prefunding Target Amount means with respect to Class D Notes for any day during any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class C Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Transfer Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class D Notes (other than Tranches which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the denominator of which is the aggregate amount of the Class C Required Subordinated Amount of Class D Notes for all Tranches of Class C Notes which are Outstanding as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Transfer Date).
(d) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche of senior notes any Class A Notes, Class B Notes or Class C Notes first exceeds zero, the Issuing Entity Issuer will apply Segregated CHASEseries Finance Charge Collectionsnotify the Transferor, the Servicer and the Indenture Trustee, as set forth in subsection 3.05(a)(i)applicable, pursuant to Section 5.04 of the Indenture of such event.
Appears in 1 contract
Samples: Wfcardseries Indenture Supplement (WF Card Funding LLC)
Calculation of Prefunding Target Amount. (a) With respect to all Tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches any Tranche of Class A Notes with respect to Class B Notes for any day during any Monthly Period is equal to means an amount, not less than zero, equal to the sum of the following amounts:
(i) for each Tranche of Class A Notes with a Required Subordinated Amount of Class B Notes greater than zero, the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Periodrelated Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches of Class B Notes which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches of Class A Notes of which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Periodrelated Distribution Date).;
(ii) The Prefunding Target Amount for Tranches each Tranche of Class A Notes with respect to a Required Subordinated Amount of Class C Notes for any Monthly Period is equal to an amount, not less greater than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Periodrelated Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches of Class C Notes which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the sum of (1) the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the close end of business the preceding Monthly Period which have a Class A Required Subordinated Amount of Class B Notes equal to zero and (2) the aggregate Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly Period (in each case, taking into consideration any deposits or withdrawals to be made on the last day related Distribution Date); and
(iii) for each Tranche of Class A Notes with a Required Subordinated Amount of Class D Notes greater than zero, the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class A Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(b) With respect to all Tranches of Class B Notes, the Prefunding Target Amount means with respect to Class C Notes for any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Periodrelated Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C D Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches of Class D Notes which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the greater of (1) the sum of (X) the aggregate amount Required Subordinated Amount of Class D Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly Period which have a Required Subordinated Amount of Class B Notes equal to zero and (Y) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly Period (in each case, taking into consideration any deposits or withdrawals to be made on the related Distribution Date) and (2) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class C Notes which are Outstanding as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date).
(b) The Prefunding Target Amount for any Tranche of Class B Notes for any day during any Monthly Period means an amount, not less than zero, equal to the sum of the following amounts:
(i) for each Tranche of Class B Notes with a Required Subordinated Amount of Class C Notes greater than zero, the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class B Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (other than Tranches of Class C Notes which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the denominator of which is the sum of (1) the aggregate Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly Period which have a Class A Required Subordinated Amount of Class B Notes equal to zero and (2) the aggregate Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes which are Outstanding as of the close end of business the preceding Monthly Period (in each case, taking into consideration any deposits or withdrawals to be made on the last day related Distribution Date); and
(ii) for each Tranche of Class B Notes with a Required Subordinated Amount of Class D Notes greater than zero, the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class B Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class D Notes (other than Tranches of Class D Notes which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any Note Transfer preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the immediately succeeding denominator of which is the greater of (1) the sum of (X) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly PeriodPeriod which have a Required Subordinated Amount of Class B Notes equal to zero and (Y) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly Period (in each case, taking into consideration any deposits or withdrawals to be made on the related Distribution Date) and (2) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class C Notes which are Outstanding as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date).
(c) The Prefunding Target Amount for any Tranche of Class C Notes with a Required Subordinated Amount of Class D Notes greater than zero for any day during any Monthly Period means an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class C Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class D Notes (other than Tranches of Class D Notes which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the denominator of which is the greater of (1) the sum of (X) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly Period which have a Required Subordinated Amount of Class B Notes equal to zero and (Y) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly Period (in each case, taking into consideration any deposits or withdrawals to be made on the related Distribution Date) and (2) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class C Notes which are Outstanding as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date).
(d) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche of senior notes first exceeds zero, the Issuing Entity Issuer will apply Segregated CHASEseries Finance Charge Collections, as set forth in subsection 3.05(a)(i)notify the Master Trust pursuant to Section 4.05 of the Series 2002-CC Supplement and the Note Rating Agencies of such event.
Appears in 1 contract
Calculation of Prefunding Target Amount. (a) With respect to all Tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class B Notes for any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Outstand ing Dollar Principal Amount of all Tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches of Class A Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(ii) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class C Notes for any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Outstand ing Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(b) With respect to all Tranches of Class B Notes, the Prefunding Target Amount means with respect to Class C Notes for any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately immedi ately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(c) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche of senior notes first exceeds zero, the Issuing Entity Issuer will apply Segregated CHASEseries ONEseries Finance Charge Collections, as set forth in subsection 3.05(a)(i).
Appears in 1 contract
Samples: Oneseries Indenture Supplement (Bank One Delaware National Association)
Calculation of Prefunding Target Amount. (a) With respect to all Tranches tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches tranches of Class A Notes with respect to Class B Notes for any day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches tranches which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches tranches of Class A Notes of which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate).
(ii) The Prefunding Target Amount for Tranches tranches of Class A Notes with respect to Class C Notes for any day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches tranches which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches tranches of Class A Notes which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate).
(b) With respect to all Tranches tranches of Class B Notes, the Prefunding Target Amount means with respect to Class C Notes for any day during any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches tranches which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class C Notes for all Tranches tranches of Class B Notes which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate).
(c) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche tranche of senior notes first exceeds zero, the Issuing Entity Issuer will apply Segregated CHASEseries Finance Charge Collections, as set forth in subsection 3.05(a)(i)notify the Master Trust pursuant to Section 4.09 of the Series 2001-D Supplement of such event.
Appears in 1 contract
Samples: Baseries Indenture Supplement (BA Credit Card Trust)
Calculation of Prefunding Target Amount. (a) With respect to all Tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class B Notes for any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times TIMES (y) one minus MINUS a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such 58 Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches of Class A Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(ii) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class C Notes for any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times TIMES (y) one minus MINUS a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(b) With respect to all Tranches of Class B Notes, the Prefunding Target Amount means with respect to Class C Notes for any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times TIMES (y) one minus MINUS a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(c) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche of senior notes first exceeds zero, the Issuing Entity Issuer will apply Segregated CHASEseries ONEseries Finance Charge Collections, as set forth in subsection 3.05(a)(i).
Appears in 1 contract
Samples: Oneseries Indenture Supplement (First Usa Credit Card Master Trust)
Calculation of Prefunding Target Amount. (a) With respect to all Tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class B Notes for any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches of Class A Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(ii) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class C Notes for any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(b) With respect to all Tranches of Class B Notes, the Prefunding Target Amount means with respect to Class C Notes for any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(c) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche of senior notes first exceeds zero, the Issuing Entity Issuer will apply Segregated CHASEseries Finance Charge Collections, as set forth in subsection 3.05(a)(i).
Appears in 1 contract
Samples: Chase Series Indenture Supplement (Chase Manhattan Bank Usa)
Calculation of Prefunding Target Amount. (a) With respect to all Tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause clauses (i), (ii) or (iiiii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class B Notes for any day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches of Class A Notes of which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate).
(ii) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class C Notes for any day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate).
(biii) With respect to all The Prefunding Target Amount for Tranches of Class B Notes, the Prefunding Target Amount means A Notes with respect to Class C D Notes for any day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C D Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly Periods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class D Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Transfer Date).
(b) With respect to all Tranches of Class B Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches of Class B Notes with respect to Class C Notes for any day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Transfer Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (other than Tranches which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes of which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Transfer Date).
(ii) The Prefunding Target Amount for Tranches of Class B Notes with respect to Class D Notes for any Note day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Transfer Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class D Notes (other than Tranches which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the immediately succeeding denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class D Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly PeriodPeriod (taking into consideration any deposits or withdrawals to be made on the related Transfer Date).
(c) With respect to all Tranches of Class C Notes, the Prefunding Target Amount means with respect to Class D Notes for any day during any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class C Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Transfer Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class D Notes (other than Tranches which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the denominator of which is the aggregate amount of the Class C Required Subordinated Amount of Class D Notes for all Tranches of Class C Notes which are Outstanding as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Transfer Date).
(d) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche of senior notes first exceeds zero, the Issuing Entity Issuer will apply Segregated CHASEseries Finance Charge Collectionsnotify the Transferor, the Servicer and the Paying Agent, as set forth in subsection 3.05(a)(i)applicable, pursuant to Section 5.04 of the Indenture of such event.
Appears in 1 contract
Calculation of Prefunding Target Amount. (a) With respect to all Tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class B Notes for any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches of Class A Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(ii) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class C Notes for any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(b) With respect to all Tranches of Class B Notes, the Prefunding Target Amount means with respect to Class C Notes for any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(c) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche of senior notes first exceeds zero, the Issuing Entity Issuer will apply Segregated CHASEseries ONEseries Finance Charge Collections, as set forth in subsection 3.05(a)(i).
Appears in 1 contract
Samples: Indenture Supplement (First Usa Credit Card Master Trust)
Calculation of Prefunding Target Amount. (a) With respect to all Tranches tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches tranches of Class A Notes with respect to Class B Notes for any day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches tranches which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches tranches of Class A Notes of which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate).
(ii) The Prefunding Target Amount for Tranches tranches of Class A Notes with respect to Class C Notes for any day during any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches tranches which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches tranches of Class A Notes which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate).
(b) With respect to all Tranches tranches of Class B Notes, the Prefunding Target Amount means with respect to Class C Notes for any day during any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches tranches which have (A) had Early Amortization Redemption Events or other mandatory or optional redemption events in which such Tranches tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Expected Principal Payment Date in or with respect to the current that Monthly Period or any earlier Monthly PeriodPeriods) and the denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class C Notes for all Tranches tranches of Class B Notes which are Outstanding as of the close end of business on the last day of such preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note the related Transfer Date in the immediately succeeding Monthly PeriodDate).
(c) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche tranche of senior notes first exceeds zero, the Issuing Entity Issuer will apply Segregated CHASEseries Finance Charge Collections, as set forth in subsection 3.05(a)(i)notify the Master Trust pursuant to Section 4.09 of the Series 2001‑D Supplement of such event.
Appears in 1 contract
Samples: Indenture Supplement (BA Master Credit Card Trust II)
Calculation of Prefunding Target Amount. (a) With respect to all Tranches of Class A Notes, the Prefunding Target Amount means the greater of the amount computed under clause (i) or (ii) for the applicable Monthly Period:
(i) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class B Notes for any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class B Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class B Notes for all Tranches of Class A Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(ii) The Prefunding Target Amount for Tranches of Class A Notes with respect to Class C Notes for any Monthly Period is equal to an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class A Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class A Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(b) With respect to all Tranches of Class B Notes, the Prefunding Target Amount means with respect to Class C Notes for any Monthly Period an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of Class B Notes as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period) (other than Tranches which have (A) had Early Amortization Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Scheduled Principal Payment Date in or with respect to the current Monthly Period or any earlier Monthly Period) and the denominator of which is the aggregate amount of the Class B Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes which are Outstanding as of the close of business on the last day of such Monthly Period (taking into consideration any deposits or withdrawals to be made on any Note Transfer Date in the immediately succeeding Monthly Period).
(c) On any day during any Monthly Period on which the Prefunding Target Amount for any Tranche of senior notes first exceeds zero, the Issuing Entity will apply Segregated CHASEseries WachoviaSeries Finance Charge Collections, as set forth in subsection 3.05(a)(i).
Appears in 1 contract
Samples: Wachovia Series Indenture Supplement (Wachovia Card Receivables LLC)
