Common use of Coverage of Required Amount Clause in Contracts

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 16 contracts

Samples: Series Supplement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii)

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Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 11 contracts

Samples: Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 10 contracts

Samples: Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Series Supplement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Series Supplement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii)

Coverage of Required Amount. (am) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (bn) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. (co) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 9 contracts

Samples: Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Series 1996 K Supplement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period Period, plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii)

Coverage of Required Amount. (am) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (bn) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. (co) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Mbna America Bank National Association), Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Supplement to Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii)

Coverage of Required Amount. (a) On or before each Transfer Determination Date, the Servicer shall determine the amount (the "Class A Required Amount")”) for the related Transfer Date, if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Datethe related Distribution Period, plus (ii) the Class A Deficiency AmountNon-Use Fee, if any, for such Transfer Datethe related Distribution Period, plus (iii) the Class A Senior Additional InterestAmounts, if any, for such the related Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (Ev) any Class A Non-Use Fee, Class A Senior Additional Amounts and the Investor Servicing Fee included in the Class B Servicing Fee, if any, due but not paid on A Required Amount for any prior Transfer Date, Date but not yet paid exceeds the Class B Available Funds for the related Monthly Period. The “Class A Monthly Interest” for any Distribution Period shall equal the aggregate amount of interest that accrued over that Distribution Period on each Class A Funding Tranche, plus the aggregate amount of interest that accrued over any prior Distribution Period on any Class A Funding Tranche and has not yet been paid, plus additional interest (iito the extent permitted by law) the Class B Investor Default Amount, if any, for the prior Monthly Period. (c) In the event that the sum of on such overdue amounts at the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that Certificate Rate (as defined in the Class A Required Amount for such Transfer Date is greater than zeroCertificate Purchase Agreement) applicable to the related Class A Ownership Interest during that Distribution Period, all or a portion as determined by Servicer on the related Determination Date. For purposes of such determination, Servicer shall rely upon information provided by the Excess Spread with respect to such Transfer Date in an amount equal various Class A Funding Agents pursuant to the Class A Required Amount, to the extent available, Certificate Purchase Agreement. The interest accrued on any Class A Funding Tranche for such Transfer Date any Distribution Period shall be distributed from equal the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In product of the event Weighted Average Class A Funded Amount for that Class A Funding Tranche, the applicable Funding Rate (as defined in the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest Certificate Purchase Agreement) and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amountapplicable Day Count Fraction.

Appears in 3 contracts

Samples: Third Amended and Restated Series 2009 Vfc1 Supplement (Alliance Data Systems Corp), Pooling and Servicing Agreement (Alliance Data Systems Corp), Pooling and Servicing Agreement (Alliance Data Systems Corp)

Coverage of Required Amount. (a) On or before each Transfer Determination Date, the Servicer Receivables Trustee (acting on the advice of the Trust Cash Manager) shall determine the amount (the "Class CLASS A Required AmountREQUIRED AMOUNT"), if any, by which the sum of of: (i) the Class A Monthly Interest for such Transfer Date, plus Required Expense Amount; PLUS (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iva) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing FeePeriod, if any, PLUS any Class A Servicing Fee due but not paid on any prior Transfer Date, plus PLUS (vib) the Class A Cash Management Fee for the prior Monthly Period, if any, PLUS any Class A Cash Management Fee due but not paid on any prior Transfer Date; PLUS (iii) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds Period EXCEEDS the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Determination Date, the Servicer Receivables Trustee (acting on the advice of the Trust Cash Manager) shall also determine the amount (the "Class CLASS B Required AmountREQUIRED AMOUNT"), if any, equal to the sum of of: (i) the amount, if any, by which the sum of (A) which: the Class B Monthly Interest for such Transfer Date, Required Expense Amount; plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (Da) the Class B Servicing Fee for the prior Monthly Period, if any, plus (E) the any Class B Servicing Fee, if any, Fee due but not paid on any prior Transfer Date, exceeds plus (b) the Class B Cash Management Fee for the prior Monthly Period, if any, plus any Class B Cash Management Fee due but not paid on any prior Transfer Date EXCEEDS the Class B Available Funds for the related Monthly Period, plus ; PLUS (ii) the Class B Investor Default Amount, if any, for the prior related Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. (i) In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date Trust Cash Manager shall be distributed from required to give the Finance Charge Account on Receivables Trustee written notice of such Transfer Date pursuant to subsection 4.11(a). In the event that the positive Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer on each Determination Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 2 contracts

Samples: Receivables Trust Deed and Trust Cash Management Agreement (Arran Funding LTD), Receivables Trust Deed and Trust Cash Management Agreement (Arran Funding LTD)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds deposited or available to be deposited for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds deposited or available to be deposited for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that If the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that addition: (i) If the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a4.13(a). In the event that If the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Principal Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.124.14. (ii) If the Class B Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class B Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.13(c). In the event that If the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c4.13(c), the Principal Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.124.14; provided, however, provided that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Mellon Bank Premium Finance Master Trust), Pooling and Servicing Agreement (Mellon Bank Premium Finance Loan Master Trust)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of an amount equal to (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency AmountAdditional Interest, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, Servicing Fee for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date that will be distributable on the related Distribution Date, plus (viv) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viiivi) the Net Swap PaymentsClass A Prior Period Interest, if any, due but not paid for such Transfer Date that will be distributable on any prior Transfer the related Distribution Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, by which an amount equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (Cii) the Class B Additional Interest, if any, for such Transfer Date, plus (Diii) the Class B Servicing Fee for the prior Monthly Periodsuch Transfer Date, plus (Eiv) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (v) the Class B Default Amount, if any, for such Transfer Date, plus (vi) Class B Prior Period Interest, if any, for such Transfer Date that will be distributable on the related Distribution Date, exceeds the Class B Available Funds for the related Monthly Period. (c) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class C Required Amount"), if any, by which an amount equal to (i) the Class C Monthly Interest for such Transfer Date, plus (ii) the Class B Investor C Additional Interest, if any, for such Transfer Date, plus (iii) the Class C Servicing Fee for such Transfer Date, plus (iv) the Class C Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (v) the Class C Default Amount, if any, for such Transfer Date, plus (vi) Class C Prior Period Interest, if any, for such Transfer Date that will be distributable on the prior related Distribution Date, exceeds the Class C Available Funds for the related Monthly Period. . (cd) In the event that the sum of the Class A Required Amount, the Class B Required Amount and the Class B C Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount thereof on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread funds on deposit in the Series 1998-1 Yield Enhancement Account with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Series 1998-1 Yield Enhancement Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread funds on deposit in the Series 1998-1 Yield Enhancement Account with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections each Class of Principal Receivables allocable to the Class B Investor Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date is greater than zero, all or a portion of the funds on deposit in the Series 1998-1 Yield Enhancement Account with respect to such Transfer Date in an amount equal to the Class B Required Amount, to the extent available, shall be distributed from the Series 1998-1 Yield Enhancement Account on such Transfer Date pursuant to Section 4.11(b). In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread funds on deposit in the Series 1998-1 Yield Enhancement Account available to fund the Class B Required Amount pursuant to subsection 4.11(c4.11(b), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the each Class A Required Amount) of Investor Certificates shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (A I Receivables Corp), Pooling and Servicing Agreement (A I Receivables Corp)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period Period, plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) On or before each Transfer Date, the Servicer shall also determine the amount (the "Collateral Required Amount"), if any, equal to the amount, if any, by which the sum of amounts owed pursuant to subsections 4.11(e) through (g) exceeds the amount of Excess Spread available to pay such amounts with respect to such Transfer Date. (d) In the event that the sum of the Class A Required Amount, the Class B Required Amount and the Class B Collateral Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount, Class B Required Amount or Class B Collateral Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Class D Certificates, the Collections of Principal Receivables allocable to the Collateral Interest Interest, and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Class D Certificates and the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12. In the event that the Collateral Required Amount for such Transfer Date is greater than zero, the Collections of Principal Receivables allocable to the Class D Certificates (after application to the Class A Required Amount and the Class B Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and Amount, the Class B Required Amount and the Collateral Required Amount.

Appears in 2 contracts

Samples: Amended and Restated Series 2001 B Supplement (BA Credit Card Funding, LLC), Amended and Restated Series 2000 H Supplement (BA Credit Card Funding, LLC)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period Period, plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Net Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Net Default Amount, if any, for the prior Monthly Period. . (c) In the event that If the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or and/or Class B Required Amount on or before such Transfer Date. In the event that addition: (i) If the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a4.13(a). In the event that If the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.124.15. (ii) If the Class B Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class B Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.13(c). In the event that If the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c4.13(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.124.15; provided, however, provided that the sum of any payments pursuant to this paragraph subsection 4.10(c) shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (First National Bank of Commerce), Pooling and Servicing Agreement (First National Bank of Commerce)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) On or before each Transfer Date, the Servicer shall also determine the amount (the "Collateral Required Amount"), if any, equal to the amount, if any, by which the sum of amounts owed pursuant to subsections 4.11(e) through (g) exceeds the amount of Excess Spread available to pay such amounts with respect to such Transfer Date. (d) In the event that the sum of the Class A Required Amount, the Class B Required Amount and the Class B Collateral Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount, Class B Required Amount or Class B Collateral Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Class D Certificates, the Collections of Principal Receivables allocable to the Collateral Interest Interest, and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Class D Certificates and the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12. In the event that the Collateral Required Amount for such Transfer Date is greater than zero, the Collections of Principal Receivables allocable to the Class D Certificates (after application to the Class A Required Amount and the Class B Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and Amount, the Class B Required Amount and the Collateral Required Amount.

Appears in 2 contracts

Samples: Amended and Restated Series 1999 J Supplement (BA Credit Card Funding, LLC), Amended and Restated Series 2000 E Supplement (BA Credit Card Funding, LLC)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period Period, plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, Date exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii), Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Unpaid Trustee Fee, if any, for such Transfer Date, (ii) the Class A Monthly Interest for such Transfer Date, plus (iiiii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iiiiv) the Class A Additional Interest, if any, for such Transfer Date, plus (ivv) the Class A Servicing Fee for the prior Monthly Period plus Period, (vvi) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus Date and (vivii) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds deposited or available to be deposited for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Unpaid Trustee Fee, if any, for such Transfer Date, (B) the Class B Monthly Interest for such Transfer Date, plus (BC) the Class B Deficiency Amount, if any, for such Transfer Date, plus (CD) the Class B Additional Interest, if any, for such Transfer Date, plus (DE) the Class B Servicing Fee for the prior Monthly Period, plus Period and (EF) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds deposited or available to be deposited for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that If the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that addition: (i) If the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a4.13(a). In the event that If the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Principal Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.124.14. (ii) If the Class B Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class B Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.13(c). In the event that If the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c4.13(c), the Principal Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.124.14; provided, however, provided that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mellon Premium Finance Loan Owner Trust)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class C Required Amount"), if any, equal to the amount, if any, by which the sum of amounts owed pursuant to subsections 4.11(e) through (g) exceeds the amount of Excess Spread available to pay such amounts with respect to such Transfer Date. (d) In the event that the sum of the Class A Required Amount, the Class B Required Amount and the Class B C Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount, Class B Required Amount or Class B C Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest Class D Certificates, the Collections of Principal Receivables allocable to the Class C Interests and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest Class D Certificates and the Collections of Principal Receivables allocable to the Class C Interests (after application to the Class A Required Amount) shall be applied as specified in Section 4.12. In the event that the Class C Required Amount for such Transfer Date is greater than zero, the Collections of Principal Receivables allocable to the Class D Certificates (after application to the Class A Required Amount and the Class B Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount, the Class B Required Amount and the Class B C Required Amount.

Appears in 1 contract

Samples: Amended and Restated Series 1997 B Supplement (BA Credit Card Funding, LLC)

Coverage of Required Amount. for the Class A ------------------------------------------- Certificates. (a) On or before each Transfer Determination ------------ Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Datethe related Distribution Date payable with respect to the Class A Invested Amount, plus (ii) any Class A Monthly Interest previously due but not paid to the Class A Deficiency AmountCertificateholders, if any, for such Transfer Date, plus (iii) the any Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for such Distribution Date and (v) to the prior Monthly Period, plus (vii) extent payable to a Successor Servicer that is not an Affiliate of the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer DateSeller, the Servicer shall also determine the amount Monthly Servicing Fee (the "Class B Required Amount"), if any, equal to the sum of (i) through (v), the amount, if any, by which "Class A Covered Amount") exceeds the sum of (Ax) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B A Available Funds for such Distribution Date which are available to pay (i) through (v) (after taking into consideration the related pro rata portion of the Monthly PeriodServicing Fee payable in accordance with the first proviso to subsection 4.07(a) of the Agreement), plus (iiy) Excess Spread available pursuant to Section 4.09 of the Class B Investor Default Agreement and (z) Excess Finance Charge Collections allocable to the Series 1996-Q Certificates pursuant to subsection 4.04(c) of the Agreement (up to the Shortfall Amount, if any, for the prior Monthly Period). (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount Amount, specifying therein the amount to be withdrawn pursuant to this subsection 4.06(a), on or before after the Determination Date but in no event later than three Business Days prior to such Distribution Date. On the Transfer Date, the Trustee (or the Servicer on the Trustee's behalf) shall withdraw the Withdrawal Amount from the Cash Collateral Account and immediately deposit such amount into the Collection Account. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of exceeds the Excess Spread Available Cash Collateral Amount with respect to such Transfer Distribution Date, Reallocated Principal Collections with respect to such Distribution Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date excess shall be distributed from the Finance Charge Collection Account on such Transfer Distribution Date pursuant to Section 4.10. (b) If the Servicer fails to make any payment or deposit (other than as required by Sections 2.07, 7.04, 8.04, 9.02 (upon receipt of sale proceeds thereunder) and 10.01 of the Agreement) required to be made by the Servicer at the time specified in the Agreement (including applicable grace periods), the Trustee, without instruction from the Servicer, shall make such payment or deposit from the Collection Account. If the Servicer fails to give the notice of a positive Class A Required Amount required to be given by the Servicer pursuant to subsection 4.11(a)4.06(a) of the Agreement, the Trustee shall make a withdrawal from the Cash Collateral Account in accordance with the certificate delivered pursuant to subsection 3.04(b) of the Agreement without instruction from the Servicer. In the event that the Class A Required Amount for such Transfer Date exceeds Servicer fails to deliver the amount certificate required by subsection 3.04(b) of Excess Spread with respect to such Transfer Datethe Agreement, no withdrawal from the Collections of Principal Receivables allocable to the Cash Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period Account shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12made; provided, however, -------- ------- that if the sum Trustee, in its sole discretion, is able to determine and confirm the amount of any payments interest payable pursuant to this paragraph shall not exceed the sum subsection 4.07(a)(i) of the Class A Required Amount and Agreement, the Class B Required AmountTrustee shall, if necessary after application of the funds in the Collection Account, make a withdrawal from the Cash Collateral Account in the amount of the interest shortfall. The Servicer shall, upon request of the Trustee, promptly provide the Trustee with all information necessary to allow the Trustee to comply with the provisions of this subsection 4.06(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement Supplement (FCC National Bank)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer the related Distribution Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer the related Distribution Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) if JCPenney or an Affiliate thereof is no longer the Servicer, the Class B Servicing Fee for the prior Monthly Period, plus (E) if JCPenney or an Affiliate thereof is no longer the Servicer, the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a)4.18(a) hereof. In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Class C Investor Interest and the Collections of Principal Receivables allocable to the Class B Certificates Investor Interest with respect to the prior Monthly Period shall be applied as specified in Section 4.124.19 hereof. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c)4.18(c) hereof, the Collections of Principal Receivables allocable to the Collateral Class C Investor Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.124.19 hereof; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Series E Supplement (JCP Receivables Inc)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1999-[ ] with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1999-[ ] with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1999-[ ] available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Credit Card Master Trust)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1996-4 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1996-4 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1996-4 available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Manhattan Bank Usa)

Coverage of Required Amount. (a) On or before each --------------------------- Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such ---- Transfer Date, plus (iii) the Class A Additional Interest, if any, for such ---- Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period ---- plus (v) the Class A Servicing Fee, if any, due but not paid on any prior ---- Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the ---- prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such ---- Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such ---- Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period ---- plus (E) the Class B Servicing Fee, if any, due but not paid on any prior ---- Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior ---- Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1998-2 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1998-2 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1998-2 available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any -------- ------- payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Manhattan Bank Usa)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Class C Investor Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Class C Investor Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii)

Coverage of Required Amount. for the Class A Certificates. -------------------------------------------------------- (a) On or before each Transfer Determination Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Datethe related Distribution Date payable with respect to the Class A Invested Amount, plus (ii) any Class A Monthly Interest previously due but not paid to the Class A Deficiency AmountCertificateholders, if any, for such Transfer Date, plus (iii) the any Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for such Distribution Date and (v) to the prior Monthly Period, plus (vii) extent payable to a Successor Servicer that is not an Affiliate of the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer DateSeller, the Servicer shall also determine the amount Monthly Servicing Fee (the "Class B Required Amount"), if any, equal to the sum of (i) through (v), the amount, if any, by which "Class A Covered Amount") exceeds the sum of (Ax) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B A Available Funds for such Distribution Date which are available to pay (i) through (v) (after taking into consideration the related pro rata portion of the Monthly PeriodServicing Fee payable in accordance with the first proviso to subsection 4.07(a) of the Agreement), plus (iiy) Excess Spread available pursuant to Section 4.09 of the Class B Investor Default Agreement and (z) Excess Finance Charge Collections allocable to the Series 1997-U Certificates pursuant to subsection 4.04(c) of the Agreement (up to the Shortfall Amount, if any, for the prior Monthly Period). (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount Amount, specifying therein the amount to be withdrawn pursuant to this subsection 4.06(a), on or before after the Determination Date but in no event later than three Business Days prior to such Distribution Date. On the Transfer Date, the Trustee (or the Servicer on the Trustee's behalf) shall withdraw the Withdrawal Amount from the Cash Collateral Account and immediately deposit such amount into the Collection Account. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of exceeds the Excess Spread Available Cash Collateral Amount with respect to such Transfer Distribution Date, Reallocated Principal Collections with respect to such Distribution Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date excess shall be distributed from the Finance Charge Collection Account on such Transfer Distribution Date pursuant to Section 4.10. (b) If the Servicer fails to make any payment or deposit (other than as required by Sections 2.07, 7.04, 8.04, 9.02 (upon receipt of sale proceeds thereunder) and 10.01 of the Agreement) required to be made by the Servicer at the time specified in the Agreement (including applicable grace periods), the Trustee, without instruction from the Servicer, shall make such payment or deposit from the Collection Account. If the Servicer fails to give the notice of a positive Class A Required Amount required to be given by the Servicer pursuant to subsection 4.11(a)4.06(a) of the Agreement, the Trustee shall make a withdrawal from the Cash Collateral Account in accordance with the certificate delivered pursuant to subsection 3.04(b) of the Agreement without instruction from the Servicer. In the event that the Class A Required Amount for such Transfer Date exceeds Servicer fails to deliver the amount certificate required by subsection 3.04(b) of Excess Spread with respect to such Transfer Datethe Agreement, no withdrawal from the Collections of Principal Receivables allocable to the Cash Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period Account shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12made; provided, however, that if the sum Trustee, in its sole -------- ------- discretion, is able to determine and confirm the amount of any payments interest payable pursuant to this paragraph shall not exceed the sum subsection 4.07(a)(i) of the Class A Required Amount and Agreement, the Class B Required AmountTrustee shall, if necessary after application of the funds in the Collection Account, make a withdrawal from the Cash Collateral Account in the amount of the interest shortfall. The Servicer shall, upon request of the Trustee, promptly provide the Trustee with all information necessary to allow the Trustee to comply with the provisions of this subsection 4.06(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (FCC National Bank)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1999-2 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1999-2 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1999-2 available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Manhattan Bank Usa)

Coverage of Required Amount. (a) On or before each --------------------------- Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such ---- Transfer Date, plus (iii) the Class A Additional Interest, if any, for such ---- Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period ---- plus (v) the Class A Servicing Fee, if any, due but not paid on any prior ---- Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the ---- prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, ---- Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, ---- plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the ---- ---- Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the ---- Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-3 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-3 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-3 available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any -------- ------- payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Supplement to Pooling and Servicing Agreement (Chase Manhattan Bank Usa)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer Receivables Trustee (acting on the advice of the Trust Cash Manager) shall determine the amount (the "Class CLASS A Required AmountREQUIRED AMOUNT"), if any, by which the sum of of: (i) the Class A Monthly Interest for such Transfer Date, plus Required Expense Amount; PLUS (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iva) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing FeePeriod, if any, PLUS any Class A Servicing Fee due but not paid on any prior Transfer Date, plus PLUS (vib) the Class A Cash Management Fee for the prior Monthly Period, if any, PLUS any Class A Cash Management Fee due but not paid on any prior Transfer Date; PLUS (iii) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds Period EXCEEDS the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer Receivables Trustee (acting on the advice of the Trust Cash Manager shall also determine the amount (the "Class CLASS B Required AmountREQUIRED AMOUNT"), if any, equal to the sum of of (i) the amount, if any, by which the sum of which: (A) the Class B Monthly Interest for such Transfer Date, plus Required Expense Amount; PLUS (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (Da) the Class B Servicing Fee for the prior Monthly Period, plus (E) the if any, PLUS any Class B Servicing Fee, if any, Fee due but not paid on any prior Transfer Date, exceeds PLUS (b) the Class B Cash Management Fee for the prior Monthly Period, if any, PLUS any Class B Cash Management Fee due but not paid on any prior Transfer Date; EXCEEDS the Class B Available Funds for the related Monthly Period, plus ; PLUS (ii) the Class B Investor Default Amount, if any, for the prior related Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. (i) In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date Trust Cash Manager shall be distributed from required to give the Finance Charge Account on Receivables Trustee written notice of such Transfer Date pursuant to subsection 4.11(a). In the event that the positive Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to on or before such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Supplement to Declaration of Trust and Trust Cash Management Agreement (Gracechurch Receivables Trustee LTD)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1998-6 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1998-6 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1998-5 available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Supplement to Pooling and Servicing Agreement (Chase Manhattan Bank Usa)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer Receivables Trustee (acting on the advice of the Trust Cash Manager) shall determine the amount (the "Class CLASS A Required AmountREQUIRED AMOUNT"), if any, by which the sum of of: (i) the Class A Monthly Interest for such Transfer Date, plus Required Expense Amount; PLUS (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iva) the Class A Servicing Fee for the prior Monthly Period plus Period, if any PLUS any Class A Servicing Fee due but not paid on any prior Transfer Date PLUS (vb) the Class A Servicing FeeCash Management Fee for the prior Monthly Period, if any, PLUS any Class A Cash Management Fee due but not paid on any prior Transfer Date, plus ; PLUS (viiii) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds Period EXCEEDS the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer Receivables Trustee (acting on the advice of the Trust Cash Manager shall also determine the amount (the "Class CLASS B Required AmountREQUIRED AMOUNT"), if any, equal to the sum of of (i) the amount, if any, by which the sum of which: (A) the Class B Monthly Interest for such Transfer Date, plus Required Expense Amount; PLUS (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (Da) the Class B Servicing Fee for the prior Monthly Period, plus (E) the if any, PLUS any Class B Servicing Fee, if any, Fee due but not paid on any prior Transfer Date, exceeds PLUS (b) the Class B Cash Management Fee for the prior Monthly Period, if any, PLUS any Class B Cash Management Fee due but not paid on any prior Transfer Date; EXCEEDS the Class B Available Funds for the related Monthly Period, plus ; PLUS (ii) the Class B Investor Default Amount, if any, for the prior related Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. (i) In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date Trust Cash Manager shall be distributed from required to give the Finance Charge Account on Receivables Trustee written notice of such Transfer Date pursuant to subsection 4.11(a). In the event that the positive Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to on or before such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Series Supplement (Barclaycard Funding PLC)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Class C Investor Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Class C Investor Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1998-5 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1998-5 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1998-5 available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Manhattan Bank Usa)

Coverage of Required Amount. (a) On or before each --------------------------- Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such ---- Transfer Date, plus (iii) the Class A Additional Interest, if any, for such ---- Transfer Date, plus (iv) the Class A Servicing Fee for the ---- prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not ---- paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, ---- if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, ---- Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, ---- plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the ---- ---- Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the ---- Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1998-3 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1998-3 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1998-3 available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to -------- ------- this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Manhattan Bank Usa)

Coverage of Required Amount. (a) On or before each --------------------------- Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such ---- Transfer Date, plus (iii) the Class A Additional Interest, if any, for such ---- Transfer Date, plus (iv) the Class A Servicing Fee for the ---- prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not ---- paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, ---- if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, ---- Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, ---- plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the ---- ---- Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the ---- Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-5 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-5 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-5 available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph -------- ------- shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Supplement (Chase Manhattan Bank Usa)

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Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Unpaid Trustee Fee, if any, for such Transfer Date, (ii) the Class A Monthly Interest for such Transfer Date, plus (iiiii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iiiiv) the Class A Additional Interest, if any, for such Transfer Date, plus (ivv) the Class A Servicing Fee for the prior Monthly Period plus Period, (vvi) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus Date and (vivii) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds deposited or available to be deposited for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Unpaid Trustee Fee, if any, for such Transfer Date, (B) the Class B Monthly Interest for such Transfer Date, plus (BC) the Class B Deficiency Amount, if any, for such Transfer Date, plus (CD) the Class B Additional Interest, if any, for such Transfer Date, plus (DE) the Class B Servicing Fee for the prior Monthly Period, plus Period and (EF) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds deposited or available to be deposited for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of If the Class A Required Amount and or the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that addition: (i) If the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date after application of Excess Spread pursuant to subsection 4.13(a), shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a4.13(b). In the event that If the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect available to such Transfer Datefund the Class A Required Amount pursuant to subsection 4.13(b), the Principal Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates Investor Interest with respect to the prior Monthly Period shall be applied as specified in Section 4.124.14. (ii) If the Class B Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class B Required Amount, to the extent available, for such Transfer Date, after application of Excess Spread pursuant to subsections 4.13(a), (b) and (c), shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.13(d). In the event that If the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c4.13(d), the Principal Collections of Principal Receivables allocable to the Collateral Interest with respect to the prior Monthly Period (after application to the Class A Required Amount) shall be applied as specified in Section 4.124.14; provided, however, provided that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mellon Bank Premium Finance Loan Master Trust)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Unpaid Trustee Fee, if any, for such Transfer Date, (ii) the Class A Monthly Interest for such Transfer Date, plus (iiiii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iiiiv) the Class A Additional Interest, if any, for such Transfer Date, plus (ivv) the Class A Servicing Fee for the prior Monthly Period plus Period, (vvi) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus Date and (vivii) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds deposited or available to be deposited for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Unpaid Trustee Fee, if any, for such Transfer Date, (B) the Class B Monthly Interest for such Transfer Date, plus (BC) the Class B Deficiency Amount, if any, for such Transfer Date, plus (CD) the Class B Additional Interest, if any, for such Transfer Date, plus (DE) the Class B Servicing Fee for the prior Monthly Period, plus Period and (EF) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds deposited or available to be deposited for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of If the Class A Required Amount and or the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that addition: (i) If the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date after application of Excess Spread pursuant to subsection 4.13(a), shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a4.13(b). In the event that If the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect available to such Transfer Datefund the Class A Required Amount pursuant to subsection 4.13(b), the Principal Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates Investor Interest with respect to the prior Monthly Period shall be applied as specified in Section 4.124.14. (ii) If the Class B Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class B Required Amount, to the extent available, for such Transfer Date, after application of Excess Spread pursuant to subsections 4.13(a), (b) and (c), shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.13(d). In the event that If the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c4.13(d), the Principal Collections of Principal Receivables allocable to the Collateral Interest with respect to the prior Monthly Period (after application to the Class A Required Amount) shall be applied as specified in Section 4.124.14; provided, however, provided that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mellon Bank Premium Finance Loan Master Trust)

Coverage of Required Amount. (a) On or before each --------------------------- Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such ---- Transfer Date, plus (iii) the Class A Additional Interest, if any, for such ---- Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period ---- plus (v) the Class A Servicing Fee, if any, due but not paid on any prior ---- Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the ---- prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, ---- Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, ---- plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the ---- ---- Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the ---- Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-4 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-4 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-4 available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any -------- ------- payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Supplement to Pooling and Servicing Agreement (Chase Manhattan Bank Usa)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1999-1 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1999-1 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available and Shared Excess Finance Charge Collections allocable to fund Series 1999-1 with respect to such Transfer Date and not applied toward the Class B A Required Amount pursuant to subsection 4.11(c)Amount, the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wachovia Credit Card Master Trust)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. [RESERVED] (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 2000-1 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In On any Transfer Date, in the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 2000-1 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Dillard Asset Funding Co)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. [RESERVED] (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1999-1 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1999-1 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and Date the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) with respect to such Transfer Date shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Dillard Asset Funding Co)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest and any Class A Net Swap Payment for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Periodsuch Transfer Date, plus (vii) the Net Swap Payment, if any, Class A Uncovered Dilution Amount for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Daterelated Monthly Period, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest and any Class B Net Swap Payment for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the sum of (A) the Class B Investor Default Amount, if any, for such Transfer Date and (B) the prior Class B Uncovered Dilution Amount for the related Monthly Period. . (c) In the event that If the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that addition: (i) If the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread (and any Required Draw Amount) with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed (or, in the case of Excess Spread, deemed, in accordance with Section 4.7(d), to be distributed) from the Finance Charge Account (and the Cash Collateral Account) on such Transfer Date pursuant to subsection 4.11(aSection 4.13(a). In the event that If the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread (and any Required Draw Amount) with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest Class C Interests and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.124.14. (ii) If the Class B Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread (and any Required Draw Amount) with respect to such Transfer Date in an amount equal to the Class B Required Amount, to the extent available, for such Transfer Date shall be distributed (or, in the case of Excess Spread, deemed, in accordance with Section 4.7(d), to be distributed) from the Finance Charge Account (and the Cash Collateral Account) on such Transfer Date pursuant to Section 4.13(c). In the event that If the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread (and any Required Draw Amount) available to fund the Class B Required Amount pursuant to subsection 4.11(cSection 4.13(c), the Collections of Principal Receivables allocable to the Collateral Interest Class C Interests (after application to the Class A Required Amount) shall be applied as specified in Section 4.124.14; provided, however, provided that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (World Financial Network National Bank)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class CLASS A Required AmountREQUIRED AMOUNT"), if any, by which the sum of (i) the Class A Unpaid Trustee Fee, if any, for such Transfer Date, (ii) the Class A Monthly Interest for such Transfer Date, plus (iiiii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iiiiv) the Class A Additional Interest, if any, for such Transfer Date, plus (ivv) the Class A Servicing Fee for the prior Monthly Period plus Period, (vvi) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus Date and (vivii) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds deposited or available to be deposited for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class CLASS B Required AmountREQUIRED AMOUNT"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Unpaid Trustee Fee, if any, for such Transfer Date, (B) the Class B Monthly Interest for such Transfer Date, plus (BC) the Class B Deficiency Amount, if any, for such Transfer Date, plus (CD) the Class B Additional Interest, if any, for such Transfer Date, plus (DE) the Class B Servicing Fee for the prior Monthly Period, plus Period and (EF) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds deposited or available to be deposited for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of If the Class A Required Amount and or the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that addition: (i) If the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date after application of Excess Spread pursuant to subsection 4.13(a), shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a4.13(b). In the event that If the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect available to such Transfer Datefund the Class A Required Amount pursuant to subsection 4.13(b), the Principal Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates Investor Interest with respect to the prior Monthly Period shall be applied as specified in Section 4.124.14. (ii) If the Class B Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class B Required Amount, to the extent available, for such Transfer Date, after application of Excess Spread pursuant to subsections 4.13(a), (b) and (c), shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.13(d). In the event that If the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c4.13(d), the Principal Collections of Principal Receivables allocable to the Collateral Interest with respect to the prior Monthly Period (after application to the Class A Required Amount) shall be applied as specified in Section 4.124.14; provided, however, provided that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mellon Premium Finance Loan Owner Trust)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-2 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-2 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-2 available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.Section

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Manhattan Bank Usa)

Coverage of Required Amount. for the Class A ------------------------------------------- Certificates. (a) On or before each Transfer Determination Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Datethe related Distribution Date payable with respect to the Class A Invested Amount, plus (ii) any Class A Monthly Interest previously due but not paid to the Class A Deficiency AmountCertificateholders, if any, for such Transfer Date, plus (iii) the any Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for such Distribution Date and (v) to the prior Monthly Period, plus (vii) extent payable to a Successor Servicer that is not an Affiliate of the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer DateSeller, the Servicer shall also determine the amount Monthly Servicing Fee (the "Class B Required Amount"), if any, equal to the sum of (i) through (v), the amount, if any, by which "Class A Covered Amount") exceeds the sum of (Ax) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B A Available Funds for such Distribution Date which are available to pay (i) through (v) (after taking into consideration the related pro rata portion of the Monthly PeriodServicing Fee payable in accordance with the first proviso to subsection 4.07(a) of the Agreement), plus (iiy) Excess Spread available pursuant to Section 4.09 of the Class B Investor Default Agreement and (z) Excess Finance Charge Collections allocable to the Series 1996-R Certificates pursuant to subsection 4.04(c) of the Agreement (up to the Shortfall Amount, if any, for the prior Monthly Period). (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount Amount, specifying therein the amount to be withdrawn pursuant to this subsection 4.06(a), on or before after the Determination Date but in no event later than three Business Days prior to such Distribution Date. On the Transfer Date, the Trustee (or the Servicer on the Trustee's behalf) shall withdraw the Withdrawal Amount from the Cash Collateral Account and immediately deposit such amount into the Collection Account. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of exceeds the Excess Spread Available Cash Collateral Amount with respect to such Transfer Distribution Date, Reallocated Principal Collections with respect to such Distribution Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date excess shall be distributed from the Finance Charge Collection Account on such Transfer Distribution Date pursuant to Section 4.10. (b) If the Servicer fails to make any payment or deposit (other than as required by Sections 2.07, 7.04, 8.04, 9.02 (upon receipt of sale proceeds thereunder) and 10.01 of the Agreement) required to be made by the Servicer at the time specified in the Agreement (including applicable grace periods), the Trustee, without instruction from the Servicer, shall make such payment or deposit from the Collection Account. If the Servicer fails to give the notice of a positive Class A Required Amount required to be given by the Servicer pursuant to subsection 4.11(a)4.06(a) of the Agreement, the Trustee shall make a withdrawal from the Cash Collateral Account in accordance with the certificate delivered pursuant to subsection 3.04(b) of the Agreement without instruction from the Servicer. In the event that the Class A Required Amount for such Transfer Date exceeds Servicer fails to deliver the amount certificate required by subsection 3.04(b) of Excess Spread with respect to such Transfer Datethe Agreement, no withdrawal from the Collections of Principal Receivables allocable to the Cash Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period Account shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12made; provided, however, that if the sum Trustee, in its sole -------- ------- discretion, is able to determine and confirm the amount of any payments interest payable pursuant to this paragraph shall not exceed the sum subsection 4.07(a)(i) of the Class A Required Amount and Agreement, the Class B Required AmountTrustee shall, if necessary after application of the funds in the Collection Account, make a withdrawal from the Cash Collateral Account in the amount of the interest shortfall. The Servicer shall, upon request of the Trustee, promptly provide the Trustee with all information necessary to allow the Trustee to comply with the provisions of this subsection 4.06(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (FCC National Bank)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer Receivables Trustee (acting on the advice of the Trust Cash Manager) shall determine the amount (the "Class CLASS A Required AmountREQUIRED AMOUNT"), if any, by which the sum of of: (i) the Class A Monthly Interest for such Transfer Date, plus Required Expense Amount; PLUS (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iva) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing FeePeriod, if any, PLUS any Class A Servicing Fee due but not paid on any prior Transfer Date, PLUS (b) the Class A Cash Management Fee for the prior Monthly Period, if any, plus any Class A Cash Management Fee due but not paid on any prior Transfer Date; PLUS (viiii) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds Period EXCEEDS the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer Receivables Trustee (acting on the advice of the Trust Cash Manager shall also determine the amount (the "Class CLASS B Required AmountREQUIRED AMOUNT"), if any, equal to the sum of of (i) the amount, if any, by which the sum of which: (A) the Class B Monthly Interest for such Transfer Date, plus Required Expense Amount; PLUS (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (Da) the Class B Servicing Fee for the prior Monthly Period, plus (E) the if any, PLUS any Class B Servicing Fee, if any, Fee due but not paid on any prior Transfer Date, exceeds PLUS (b) the Class B Cash Management Fee for the prior Monthly Period, if any, PLUS any Class B Cash Management Fee due but not paid on any prior Transfer Date; EXCEEDS the Class B Available Funds for the related Monthly Period, plus ; PLUS (ii) the Class B Investor Default Amount, if any, for the prior related Monthly Period. . (ci) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer Trust Cash Manager shall be required to give the Receivables Trustee written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. . (ii) In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account Collections Ledger on such Transfer Date pursuant to subsection 4.11(aClause 5.15(a). . (iii) In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Principal Collections of Principal Receivables allocable standing to the Collateral Interest credit of the Principal Collections Ledger treated for calculation purposes as referable first to Class C and the Collections of Principal Receivables allocable then to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. Clauses 5.16 and 5.17. (iv) In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(cClause 5.15(c), the Principal Collections of Principal Receivables allocable standing to the Collateral Interest credit of the Principal Collections Ledger treated for calculation purposes as referable to Class C with respect to the prior Monthly Period (after application applying the amounts pursuant to the Class A Required Amountparagraph (iii) above) shall be applied as specified in Section 4.12; providedClause 5.16. PROVIDED, howeverHOWEVER, that the sum of any payments pursuant to this paragraph Clause 5.09(c) shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Series Supplement (Gracechurch Receivables Trustee LTD)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period Collection Period, plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Collection Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Collection Period. In the event that the Class A Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount on the date of computation and all or a portion of the Excess Spread and Shared Excess Yield Collections allocable to Series 1997-1 with respect to the related Collection Period in an amount equal to the Class A Required Amount for such Transfer Date shall be distributed from the Collection Account on such Transfer Date pursuant to Section 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of the Excess Spread and Shared Excess Yield Collections allocable to Series 1997-1 with respect to the related Collection Period, all or a portion of the Reallocated Principal Collections with respect to such Collection Period in an amount equal to such excess shall be distributed from the Collection Account on such Distribution Date pursuant to Section 4.12(a). (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Collection Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Collection Period, plus and (ii) the amount, if any, by which the Class B Investor Default Amount, if any, Amount for the prior Monthly Periodrelated Collection Period exceeds the amount available to make payments with respect thereto pursuant to Section 4.11(d). (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on the date of computation and all or before such Transfer Date. In the event that a portion of Excess Spread and Shared Excess Yield Collections allocable to Series 1997-1 (other than Excess Spread and Shared Excess Yield Collections applied to fund the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread reimburse Class A Investor Charge-Offs with respect to such Transfer Date in an amount equal Date) with respect to the Class A Required Amount, to the extent available, for such Transfer Date related Collection Period shall be distributed from the Finance Charge Collection Account on such Transfer Date pursuant to subsection 4.11(aSections 4.11(c) and (d). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of the Excess Spread available and Shared Excess Yield Collections allocable to Series 1997-1 with respect to the related Collection Period and not used to fund the Class B A Required Amount pursuant or reimburse Class A Investor Charge-Offs, all or a portion of the Reallocated Collateral Principal Collections with respect to subsection 4.11(c), such Collection Period (other than the portion of the Reallocated Collateral Principal Collections of Principal Receivables allocable applied to the Collateral Interest (after application to fund the Class A Required Amount) in an amount equal to such excess shall be applied as specified in distributed from the Collection Account on such Distribution Date pursuant to Section 4.12; provided4.12(b). (c) On or before each Transfer Date, howeverthe Servicer shall determine the amount (the "Collateral Required Amount"), that if any, equal to the sum of any payments pursuant to this paragraph shall not exceed (i) the amount, if any, by which the sum of (A) the Collateral Servicing Fee for the prior Collection Period, plus (B) the Collateral Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Collateral Available Funds, and (ii) the amount, if any, by which the Collateral Default Amount, if any, for the related Collection Period exceeds the amount available to make payments with respect thereto pursuant to Section 4.11(h). In the event that the Collateral Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Collateral Required Amount on the date of computation and all or a portion of the Excess Spread and Shared Excess Yield Collections allocable to Series 1997-1 (other than Excess Spread and Shared Excess Yield Collections applied to fund the Class A Required Amount and the or Class B Required Amount, reimburse Class A Investor Charge-Offs or Class B Investor Charge-Offs, and pay certain other amounts as specified in Section 4.11) with respect to the related Collection Period shall be distributed from the Collection Account on such Transfer Date pursuant to Section 4.11(f).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Bank Corporate Card Master Trust)

Coverage of Required Amount. (a) On or before --------------------------- each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, ---- for such Transfer Date, plus (iii) the Class A Additional Interest, if any, ---- for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior ---- Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid ---- on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, ---- if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for ---- such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for ---- such Transfer Date, plus (D) the Class B Servicing Fee for the prior ---- Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid ---- on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for ---- the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-1 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-1 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1997-1 available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this -------- ------- paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Supplement to Pooling and Servicing Agreement (Chase Manhattan Bank Usa)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1999-2 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 1999-2 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available and Shared Excess Finance Charge Collections allocable to fund Series 1999-2 with respect to such Transfer Date and not applied toward the Class B A Required Amount pursuant to subsection 4.11(c)Amount, the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wachovia Credit Card Master Trust)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer the related Distribution Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Addi tional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer the related Distribution Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) if JCPenney or an Affiliate thereof is no longer the Servicer, the Class B Servicing Fee for the prior Monthly Period, plus (E) if JCPenney or an Affiliate thereof is no longer the Servicer, the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a)4.18(a) hereof. In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Class C Investor Interest and the Collections of Principal Receivables allocable to the Class B Certificates Investor Interest with respect to the prior Monthly Period shall be applied as specified in Section 4.124.19 hereof. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c)4.18(c) hereof, the Collections of Principal Receivables allocable to the Collateral Class C Investor Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.124.19 hereof; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Series E Supplement (JCP Receivables Inc)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, equal to the amount by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date that will be payable on the related Payment Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, Period exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date that will be payable on the related Payment Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) On or before each Transfer Date, the Servicer shall determine the amount (the "Class C Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class C Monthly Interest for such Transfer Date, plus (B) the Class C Deficiency Amount, if any, for such Transfer Date, plus (C) the Class C Additional Interest, if any, for such Transfer Date, plus (D) the Class C Servicing Fee for the prior Monthly Period, plus (E) the Class C Servicing Fee, if any, due but not paid on any prior Transfer Date that will be payable on the related Payment Date, exceeds the Class C Available Funds for the related Monthly Period, plus (ii) the Class C Investor Default Amount, if any, for the prior Monthly Period. (d) On or before each Transfer Date, the Servicer shall determine the amount (the "Class D Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class D Servicing Fee for such Transfer Date, plus (B) the Class D Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class D Available Funds for the related Monthly Period, plus (ii) Class D Monthly Interest for such Transfer Date, plus (iii) the Class D Deficiency Amount, if any for such Transfer Date plus (iv) the Class D Investor Default Amount, if any, for such Transfer Date. (e) In the event that the sum of the Class A Required Amount, the Class B Required Amount and the Class B C Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Amount, Class B Required Amount on and Class C Required Amount or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed paid from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a5.17(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer DateSpread, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the each Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.125.18. In the event that the Class B Required Amount for such Transfer Date is greater than zero, all or a portion of Excess Spread in an amount equal to the Class B Required Amount, to the extent available, shall be distributed from the Finance Charge Account pursuant to subsection 5.17(d). In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c5.17(d), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the each Class A Required Amount) shall be applied as specified in Section 4.125.18. In the event that the Class C Required Amount for such Transfer Date is greater than zero, all or a portion of Excess Spread in an amount equal to the Class C Required Amount, to the extent available, shall be distributed from the Finance Charge Account pursuant to subsection 5.17(g). In the event that the Class C Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class C Required Amount pursuant to subsection 5.17(g), the Collections of Principal Receivables allocable to each Class shall be applied as specified in Section 5.18; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and Amount, the Class B Required Amount and Class C Required Amount. Funds, if any, credited to the Class C Reserve Account will be used to pay any Class C Monthly Interest and Class C Additional Interest remaining unpaid after the applications and allocations described in this Section 5.14(e).

Appears in 1 contract

Samples: Supplement (A.I. Receivables Transfer Corp.)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period Period, plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Supplement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii)

Coverage of Required Amount. (a) for the Class A Certificates. -------------------------------------------------------- On or before each Transfer Determination Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Datethe related Distribution Date payable with respect to the Class A Invested Amount, plus (ii) any Class A Monthly Interest previously due but not paid to the Class A Deficiency AmountCertificateholders, if any, for such Transfer Date, plus (iii) the any Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for such Distribution Date and (v) to the prior Monthly Period, plus (vii) extent payable to a Successor Servicer that is not an Affiliate of the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer DateSeller, the Servicer shall also determine the amount Monthly Servicing Fee (the "Class B Required Amount"), if any, equal to the sum of (i) through (v), the amount, if any, by which "Class A Covered Amount") exceeds the sum of (Ax) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B A Available Funds for such Distribution Date which are available to pay (i) through (v) (after taking into consideration the related pro rata portion of the Monthly PeriodServicing Fee payable in accordance with the first proviso to subsection 4.07(a) of the Agreement), plus (iiy) Excess Spread available pursuant to Section 4.09 of the Class B Investor Default Agreement and (z) Excess Finance Charge Collections allocable to the Series 1997-T Certificates pursuant to subsection 4.04(c) of the Agreement (up to the Shortfall Amount, if any, for the prior Monthly Period). (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount Amount, specifying therein the amount to be withdrawn pursuant to this subsection 4.06(a), on or before after the Determination Date but in no event later than three Business Days prior to such Distribution Date. On the Transfer Date, the Trustee (or the Servicer on the Trustee's behalf) shall withdraw the Withdrawal Amount from the Cash Collateral Account and immediately deposit such amount into the Collection Account. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of exceeds the Excess Spread Available Cash Collateral Amount with respect to such Transfer Distribution Date, Reallocated Principal Collections with respect to such Distribution Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date excess shall be distributed from the Finance Charge Collection Account on such Transfer Distribution Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount4.10.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (FCC National Bank)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class CLASS A Required AmountREQUIRED AMOUNT"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus PLUS (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus PLUS (iii) the Class A Additional Interest, if any, for such Transfer Date, plus PLUS (iv) the Class A Servicing Fee for the prior Monthly Period plus Collection Period, PLUS (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus PLUS (vi) the Class A Investor Default Amount, if any, for the prior Monthly Collection Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Collection Period. In the event that the Class A Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount on the date of computation and all or a portion of the Excess Spread and Shared Excess Yield Collections allocable to Series 1997-1 with respect to the related Collection Period in an amount equal to the Class A Required Amount for such Transfer Date shall be distributed from the Collection Account on such Transfer Date pursuant to Section 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of the Excess Spread and Shared Excess Yield Collections allocable to Series 1997-1 with respect to the related Collection Period, all or a portion of the amounts, if any, to be withdrawn from the Overconcentration Account on such Transfer Date in an amount equal to such excess shall be distributed on such Transfer Date pursuant to subsection 4.18(d)(i). In the event that the Class A Required Amount for such Transfer Date exceeds the sum of (x) the amount of the Excess Spread and Shared Excess Yield Collections allocable to Series 1997-1 with respect to the related Collection Period and (y) amounts, if any, to be withdrawn from the Overconcentration Account pursuant to subsection 4.18(d)(i) on such Transfer Date, all or a portion of the Reallocated Principal Collections with respect to such Collection Period in an amount equal to such excess shall be distributed from the Collection Account on such Transfer Date pursuant to Section 4.12(a). (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class CLASS B Required AmountREQUIRED AMOUNT"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus PLUS (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus PLUS (C) the Class B Additional Interest, if any, for such Transfer Date, plus PLUS (D) the Class B Servicing Fee for the prior Monthly Collection Period, plus PLUS (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Collection Period, plus and (ii) the amount, if any, by which the Class B Investor Default Amount, if any, Amount for the prior Monthly Periodrelated Collection Period exceeds the amount available to make payments with respect thereto pursuant to Section 4.11(d). (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on the date of computation and all or before such Transfer Date. In the event that a portion of Excess Spread and Shared Excess Yield Collections allocable to Series 1997-1 (other than Excess Spread and Shared Excess Yield Collections applied to fund the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread reimburse Class A Investor Charge-Offs with respect to such Transfer Date in an amount equal Date) with respect to the Class A Required Amount, to the extent available, for such Transfer Date related Collection Period shall be distributed from the Finance Charge Collection Account on such Transfer Date pursuant to subsection 4.11(aSections 4.11(c) and (d). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of the Excess Spread available and Shared Excess Yield Collections allocable to Series 1997-1 with respect to the related Collection Period and not used to fund the Class B A Required Amount pursuant or reimburse Class A Investor Charge-Offs, all or a portion of the amounts, if any, to subsection 4.11(c), be withdrawn from the Collections of Principal Receivables allocable Overconcentration Account on such Transfer Date (other than the portion thereof applied to the Collateral Interest (after application to fund the Class A Required Amount) in an amount equal to such excess shall be distributed on such Transfer Date pursuant to subsection 4.18(d)(ii). In the event that the Class B Required Amount for such Transfer Date exceeds the sum of (x) the amount of the Excess Spread and Shared Excess Yield Collections allocable to Series 1997-1 with respect to the related Collection Period and not used to fund the Class A Required Amount or reimburse Class A Investor Charge-Offs and (y) amounts, if any, to be withdrawn from the Overconcentration Account and allocated and available to the Class B Certificates pursuant to subsection 4.18(d)(ii) on such Transfer Date, all or a portion of the Reallocated Collateral Principal Collections with respect to such Collection Period (other than the portion of the Reallocated Collateral Principal Collections applied to fund the Class A Required Amount) in an amount equal to such excess shall be distributed from the Collection Account on such Transfer Date pursuant to Section 4.12(b). (c) On or before each Transfer Date, the Servicer shall determine the amount (the "COLLATERAL REQUIRED AMOUNT"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Collateral Servicing Fee for the prior Collection Period, PLUS (B) the Collateral Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Collateral Available Funds, and (ii) the amount, if any, by which the Collateral Investor Default Amount, if any, for the related Collection Period exceeds the amount available to make payments with respect thereto pursuant to Section 4.11(h). In the event that the Collateral Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Collateral Required Amount on the date of computation and all or a portion of the Excess Spread and Shared Excess Yield Collections allocable to Series 1997-1 (other than Excess Spread and Shared Excess Yield Collections applied to fund the Class A Required Amount or Class B Required Amount, reimburse Class A Investor Charge-Offs or Class B Investor Charge-Offs, and pay certain other amounts as specified in Section 4.12; provided, however, 4.11) with respect to the related Collection Period shall be distributed from the Collection Account on such Transfer Date pursuant to Section 4.11(f). In the event that the sum Collateral Required Amount for such Transfer Date exceeds the amount of any payments pursuant the Excess Spread and Shared Excess Yield Collections allocable to this paragraph shall Series 1997-1 with respect to the related Collection Period and not exceed used to fund the sum Class A Required Amount or the Class B Required Amount, reimburse Class A Investor Charge-Offs or Class B Investor Charge-Offs or to pay certain other amounts as specified in Section 4.11, all or a portion of the amounts, if any, to be withdrawn from the Overconcentration Account (other than the portion thereof applied to fund the Class A Required Amount and the Class B Required Amount) in an amount equal to such excess shall be distributed on such Transfer Date pursuant to subsection 4.18(d)(iii).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Bank Corporate Card Master Trust)

Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, Date plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, Period plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, Period plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. . (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread and Shared Excess Finance Charge Collections allocable to Series 2000-1 with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread and Shared Excess Finance Charge Collections allocable to Series 2000-1 with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available and Shared Excess Finance Charge Collections allocable to fund Series 2000-1 with respect to such Transfer Date and not applied toward the Class B A Required Amount pursuant to subsection 4.11(c)Amount, the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12; provided, however, that the sum of any payments pursuant to this paragraph shall not exceed the sum of the Class A Required Amount and the Class B Required Amount.

Appears in 1 contract

Samples: Series Supplement (First National Bank of Atlanta)

Coverage of Required Amount. for the Class A ------------------------------------------- Certificates. (a) On or before each Transfer Determination Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Datethe related Distribution Date payable with respect to the Class A Invested Amount, plus (ii) any Class A Monthly Interest previously due but not paid to the Class A Deficiency AmountCertificateholders, if any, for such Transfer Date, plus (iii) the any Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for such Distribution Date and (v) to the prior Monthly Period, plus (vii) extent payable to a Successor Servicer that is not an Affiliate of the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period. (b) On or before each Transfer DateSeller, the Servicer shall also determine the amount Monthly Servicing Fee (the "Class B Required Amount"), if any, equal to the sum of (i) through (v), the amount, if any, by which "Class A Covered Amount") exceeds the sum of (Ax) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B A Available Funds for such Distribution Date which are available to pay (i) through (v) (after taking into consideration the related pro rata portion of the Monthly PeriodServicing Fee payable in accordance with the first proviso to subsection 4.07(a) of the Agreement), plus (iiy) Excess Spread available pursuant to Section 4.09 of the Class B Investor Default Agreement and (z) Excess Finance Charge Collections allocable to the Series 1996-S Certificates pursuant to subsection 4.04(c) of the Agreement (up to the Shortfall Amount, if any, for the prior Monthly Period). (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount Amount, specifying therein the amount to be withdrawn pursuant to this subsection 4.06(a), on or before after the Determination Date but in no event later than three Business Days prior to such Distribution Date. On the Transfer Date, the Trustee (or the Servicer on the Trustee's behalf) shall withdraw the Withdrawal Amount from the Cash Collateral Account and immediately deposit such amount into the Collection Account. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of exceeds the Excess Spread Available Cash Collateral Amount with respect to such Transfer Distribution Date, Reallocated Principal Collections with respect to such Distribution Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date excess shall be distributed from the Finance Charge Collection Account on such Transfer Distribution Date pursuant to Section 4.10. (b) If the Servicer fails to make any payment or deposit (other than as required by Sections 2.07, 7.04, 8.04, 9.02 (upon receipt of sale proceeds thereunder) and 10.01 of the Agreement) required to be made by the Servicer at the time specified in the Agreement (including applicable grace periods), the Trustee, without instruction from the Servicer, shall make such payment or deposit from the Collection Account. If the Servicer fails to give the notice of a positive Class A Required Amount required to be given by the Servicer pursuant to subsection 4.11(a)4.06(a) of the Agreement, the Trustee shall make a withdrawal from the Cash Collateral Account in accordance with the certificate delivered pursuant to subsection 3.04(b) of the Agreement without instruction from the Servicer. In the event that the Class A Required Amount for such Transfer Date exceeds Servicer fails to deliver the amount certificate required by subsection 3.04(b) of Excess Spread with respect to such Transfer Datethe Agreement, no withdrawal from the Collections of Principal Receivables allocable to the Cash Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly Period Account shall be applied as specified in Section 4.12. In the event that the Class B Required Amount for such Transfer Date exceeds the amount of Excess Spread available to fund the Class B Required Amount pursuant to subsection 4.11(c), the Collections of Principal Receivables allocable to the Collateral Interest (after application to the Class A Required Amount) shall be applied as specified in Section 4.12made; provided, however, that if the sum Trustee, in its sole -------- ------- discretion, is able to determine and confirm the amount of any payments interest payable pursuant to this paragraph shall not exceed the sum subsection 4.07(a)(i) of the Class A Required Amount and Agreement, the Class B Required AmountTrustee shall, if necessary after application of the funds in the Collection Account, make a withdrawal from the Cash Collateral Account in the amount of the interest shortfall. The Servicer shall, upon request of the Trustee, promptly provide the Trustee with all information necessary to allow the Trustee to comply with the provisions of this subsection 4.06(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (FCC National Bank)

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