Common use of Class A Required Subordinated Amount of Class C Notes Clause in Contracts

Class A Required Subordinated Amount of Class C Notes. On the issuance date of a tranche of Class A Notes, immediately after giving effect to such issuance, the available subordinated amount of Class C Notes for such tranche of Class A Notes must be at least equal to the Class A Required Subordinated Amount of Class C Notes for such tranche of Class A Notes. For purposes of this clause, the available subordinated amount of Class C Notes for such tranche of Class A Notes as of any date means the sum of the following, after giving effect to any issuances, deposits, allocations, reallocations or payments to be made on that date: (i) the aggregate Nominal Liquidation Amount of all tranches of Class C Notes which are Outstanding on that date; minus (ii) the aggregate Class A Required Subordinated Amount of Class C Notes for all other tranches of Class A Notes which are Outstanding on that date.

Appears in 4 contracts

Samples: Baseries Indenture Supplement (BA Credit Card Trust), Indenture Supplement (BA Master Credit Card Trust II), Indenture Supplement (BA Master Credit Card Trust II)

AutoNDA by SimpleDocs

Class A Required Subordinated Amount of Class C Notes. On the issuance date of a tranche Tranche of Class A Notes, immediately after giving effect to such issuance, the available subordinated amount of Class C Notes for such tranche Tranche of Class A Notes must be at least equal to the Class A Required Subordinated Amount of Class C Notes for such tranche Tranche of Class A Notes. For purposes of this clauseSection 2.03, the available subordinated amount of Class C Notes for such tranche Tranche of Class A Notes as of any date means means: (i) the sum aggregate Nominal Liquidation Amount of the followingall Outstanding Tranches of Class C Notes on that date, after giving effect to any issuances, deposits, allocations, reallocations or payments to be made on that date:; plus (iii) the aggregate Nominal Liquidation Amount amount of all tranches Class A Usage of Class C Required Subordinated Amount by any Outstanding Tranche of Class A Notes which are Outstanding on that date, after giving effect to any issuances, deposits, allocations, reallocations or payments to be made on that date; minus (iiiii) the aggregate amount of Class A Required Subordinated Amount of Class C Notes for all other tranches Tranches of Outstanding Class A Notes which are Outstanding on that date, after giving effect to any issuances, deposits, allocations, reallocations or payments to be made on that date.

Appears in 2 contracts

Samples: Oneseries Indenture Supplement (Bank One Delaware National Association), Indenture Supplement (First Usa Credit Card Master Trust)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!