Controlled Accumulation Period. The Controlled Accumulation Period is scheduled to commence at the close of business on the day prior to the first Business Day of May 2008 Provided, however, that, if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)) is less than 12 months, the date on which the Controlled Accumulation Period actually commences shall be delayed to the first Business Day of the month that is the number of months prior to the Series 2006-2 Scheduled Redemption Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the Distribution Date in May 2008 and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer will determine the ‘‘Controlled Accumulation Period Length’’ which will equal the lowest number of months such that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; Provided, however, that the Controlled Accumulation Period Length will not be less than one month and Provided further that the Controlled Accumulation Period Length shall equal the lowest number of months such that the product of the Controlled Accumulation Period Length and the Controlled Deposit Amount taking into consideration the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor Interest.
Appears in 1 contract
Samples: Turquoise Funding I LTD
Controlled Accumulation Period. The Controlled Accumulation Period is scheduled to commence at the close beginning of business on the day prior to the first Business Day of May 2008 ProvidedApril 1, however, that, 2012; provided that if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)below) on any Determination Date on or after the March 2012 Determination Date is less than 12 months, upon written notice to the Indenture Trustee, Transferor and, each Rating Agency, Servicer shall postpone the date on which the Controlled Accumulation Period actually commences shall be delayed to the first Business Day of the month so that is the number of months prior to the Series 2006-2 Scheduled Redemption Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On ; provided that (i) the Determination Date immediately preceding the Distribution Date in May 2008 and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer will determine the ‘‘Controlled Accumulation Period Length’’ which will equal the lowest number of months such that the sum length of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; Provided, however, that the Controlled Accumulation Period Length will not be less than one month and Provided further that month, (ii) such determination of the Controlled Accumulation Period Length shall equal be made on each Determination Date on and after the lowest number March 2012 Determination Date but prior to the commencement of months such that the product Controlled Accumulation Period, and any postponement of the Controlled Accumulation Period Length and shall be subject to the subsequent lengthening of the Controlled Deposit Amount taking into consideration Accumulation Period to the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor Interest.Accumulation Period Length determined on any
Appears in 1 contract
Samples: Alliance Data Systems Corp
Controlled Accumulation Period. The Controlled Accumulation ------------------------------ Period is scheduled to commence at the close opening of business on the day prior to the first Business Day of May 2008 ProvidedMarch 1, however, that2004. However, if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)below) is less than 12 months, the date on which the Controlled Accumulation Period actually commences shall will be delayed to the first Business Day of the month that is the number of whole months prior to the Series 2006-2 Scheduled Redemption Expected Principal Distribution Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date in May 2008 Date, and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer will determine the ‘‘Controlled Accumulation Period Length’’ " which will equal the lowest number of whole months such --------------------------- that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; Providedprovided, however, that the Controlled Accumulation Period Length will not be determined to -------- ------- be less than one month and Provided further month; provided further, however, that the Controlled determination of the -------- ------- ------- Accumulation Period Length shall equal may be changed at any time if the lowest number of months such that the product of the Controlled Accumulation Period Length and the Controlled Deposit Amount taking into consideration the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor InterestRating Agency Condition is satisfied.
Appears in 1 contract
Samples: Spiegel Credit Corp Iii
Controlled Accumulation Period. The Controlled Accumulation ------------------------------ Period is scheduled to commence at the close of business on the day prior to the first Business Day of May 2008 Provided[_____ __, however, that20__]. However, if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)below) is less than 12 months, the date on which the Controlled Accumulation Period actually commences shall will be delayed to the first Business Day of the month that is the number of whole months prior to the Series 2006-2 Scheduled Redemption Expected Principal Distribution Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the [_____ ____] Distribution Date in May 2008 Date, and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer will determine the ‘‘Controlled "Accumulation Period Length’’ " which will equal the lowest number of whole months such -------------------------- that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; Providedprovided, however, that the Controlled Accumulation Period Length -------- ------- will not be determined to be less than one month and Provided further month; provided further, however, ---------------- ------- that the Controlled determination of the Accumulation Period Length shall equal may be changed at any time if the lowest number of months such that the product of the Controlled Accumulation Period Length and the Controlled Deposit Amount taking into consideration the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor InterestRating Agency Condition is satisfied.
Appears in 1 contract
Samples: First Consumers Master Trust
Controlled Accumulation Period. The Controlled ------------------------------ Accumulation Period is scheduled to commence at the close opening of business on the day prior to the first Business Day of May 2008 ProvidedMarch 1, however, that2004. However, if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)below) is less than 12 months, the date on which the Controlled Accumulation Period actually commences shall will be delayed to the first Business Day of the month that is the number of whole months prior to the Series 2006-2 Scheduled Redemption Expected Principal Distribution Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date in May 2008 Date, and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer will determine the ‘‘Controlled "Accumulation Period Length’’ " which will equal the lowest number of whole months -------------------------- such that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; Providedprovided, however, that the Controlled Accumulation Period Length will -------- ------- not be determined to be less than one month and Provided further month; provided further, however, -------- ------- ------- that the Controlled determination of the Accumulation Period Length shall equal may be changed at any time if the lowest number of months such that the product of the Controlled Accumulation Period Length and the Controlled Deposit Amount taking into consideration the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor InterestRating Agency Condition is satisfied.
Appears in 1 contract
Samples: Spiegel Inc
Controlled Accumulation Period. The Controlled Accumulation Period is scheduled to commence at the close of business on the day prior to the first Business Day of May 2008 Provided, however, that, if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)) is less than 12 months, the date on which the Controlled Accumulation Period actually commences shall be delayed to the first Business Day of the month that is the number of months prior to the Series 20062007-2 1 Scheduled Redemption Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the Distribution Date in May 2008 and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer will determine the ‘‘Controlled Accumulation Period Length’’ which will equal the lowest number of months such that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; Provided, however, that the Controlled Accumulation Period Length will not be less than one month and Provided further that the Controlled Accumulation Period Length shall equal the lowest number of months such that the product of the Controlled Accumulation Period Length and the Controlled Deposit Amount taking into consideration the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor Interest.
Appears in 1 contract
Samples: Turquoise Funding I LTD
Controlled Accumulation Period. The Controlled Accumulation Period is scheduled to commence at the close opening of business on the day prior to the first Business Day of May 2008 ProvidedMarch 1, however, that2004. However, if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)below) is less than 12 months, the date on which the Controlled Accumulation Period actually commences shall will be delayed to the first Business Day of the month that is the number of whole months prior to the Series 2006-2 Scheduled Redemption Expected Principal Distribution Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date in May 2008 Date, and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer will determine the ‘‘Controlled "Accumulation Period Length’’ " which will equal the lowest number of whole months such that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; Providedprovided, however, that the Controlled Accumulation Period Length will not be determined to be less than one month and Provided further month; provided further, however, that the Controlled determination of the Accumulation Period Length shall equal may be changed at any time if the lowest number of months such that the product of the Controlled Accumulation Period Length and the Controlled Deposit Amount taking into consideration the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor InterestRating Agency Condition is satisfied.
Appears in 1 contract
Samples: Spiegel Inc