Collection Subaccount. For purposes of determining the availability of funds or the balances in the Series 1997-2 Collection Subaccount for any reason under this Agreement, all investment earnings on such funds (net of losses and expenses) shall be deemed not to be available or on deposit so long as a Servicer Default shall not be continuing pursuant to this Section 4.2B. Permitted Investments shall not be disposed of prior to their maturity other than as provided above with respect to short term U.S. treasury securities.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust), Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)
Collection Subaccount. For purposes of determining the availability of funds or the balances in the Series 19971999-2 1 Collection Subaccount for any reason under this Agreement, all investment earnings on such funds (net of losses and expenses) shall be deemed not to be available or on deposit so long as a Servicer Default shall not be continuing pursuant to this Section 4.2B. Permitted Investments shall not be disposed of prior to their maturity other than as provided above with respect to short term U.S. treasury securities.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Peoples Bank), Pooling and Servicing Agreement (Peoples Bank)
Collection Subaccount. For purposes of determining the availability of funds or the balances in the Series 19971998-2 1 Collection Subaccount for any reason under this Agreement, all investment earnings on such funds (net of losses and expenses) shall be deemed not to be available or on deposit so long as a Servicer Default shall not be continuing pursuant to this Section 4.2B. Permitted Investments shall not be disposed of prior to their maturity other than as provided above with respect to short term U.S. treasury securities.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust), Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)
Collection Subaccount. For purposes of determining the availability of funds or the balances in the Series 1997-2 1 Collection Subaccount for any reason under this Agreement, all investment earnings on such funds (net of losses and expenses) shall be deemed not to be available or on deposit so long as a Servicer Default shall not be continuing pursuant to this Section 4.2B. Permitted Investments shall not be disposed of prior to their maturity other than as provided above with respect to short term U.S. treasury securities.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)