Daily Allocations. (a) The portion of Collections ----------------- allocated to the Series 1999-1 Investor Certificates pursuant to this Article IV ---------- shall be allocated and distributed as set forth in this Article IV by the ---------- Trustee based solely on the information provided it by the Servicer in the Daily Report (upon which the Trustee may conclusively rely unless otherwise notified by the Control Party).
(i) On each Business Day, (x) an amount equal to the Accrued Expense Amount for such day shall be transferred by the Trustee from the Series 1999-1 Collection Subaccount to the Series 1999-1 Non-Principal Collection Sub- subaccount and (y) an amount equal to the Monthly Interest Amount for such day shall be transferred by the Trustee from the Series 1999-1 Non-Principal Collection Sub-subaccount to the Series 1999-1 Accrued Interest Sub-subaccount.
(ii) Following the transfers pursuant to clause (i) above, on each ---------- Business Day any remaining funds on deposit in the Series 1999-1 Collection Subaccount shall be transferred by the Trustee to the Series 1999-1 Principal Collection Sub-subaccount.
(i) On each Business Day during the Revolving Period (including Payment Dates), after giving effect to all allocations of Collections on such Business Day, amounts on deposit in the Series 1999-1 Principal Collection Sub-subaccount shall (but only to the extent that the Trustee has received a Daily Report which reflects the receipt of the Collections on deposit therein) be distributed as indicated on the Daily Report by the Trustee in the following order of priority: (A) to any Successor Servicer, any Additional Servicing Fee due and arising, (B) to be retained in the Series 1999-1 Principal Collection Sub-subaccount to the extent the Series 1999-1 Target Receivables Amount exceeds the Series 1999-1 Allocated Receivables Amount;(C) to the Series 1999-1 Certificateholders to the extent of any Commitment Fees and Program Fees that were accrued and unpaid as of the previous Payment Date; (D) if CompuCom is not the Servicer, to the payment of all accrued and unpaid Program Costs; (E) to the Agent to the extent of any accrued and unpaid Article IV Costs; and (F) subject to the last sentence of Section 4.04(d), (x) to the Transferor in accordance with the directions contained in the Daily Report or (y) at the election of the Transferor by written notice to the Servicer, the Agent and the Trustee, (A) to be retained in the Series 1999-1 Principal Collection Sub-su...
Daily Allocations. 24 SECTION 3C.4.
Daily Allocations. During the Revolving Period. During the Revolving Period, the Servicer shall, on or prior to the close of business on the second Business Day following any Date of Processing, allocate the following amounts as set forth below:
(i) Allocate to the Series 1998-1 Holders the product of (x) the Floating Allocation Percentage on such Date of Processing and (y) the aggregate amount of Collections of Finance Charge Receivables on such Date of Processing, and of that allocation, deposit and retain in the Collection Account an amount equal to Monthly Interest for the related Distribution Date (plus, if Travelers Bank & Trust, fsb is not the Servicer, the Monthly Servicing Fee for such Monthly Period);
(ii) Allocate to the Series 1998-1 Holders an amount equal to the product of (A) the Principal Allocation Percentage on such Date of Processing and (B) the aggregate amount of Collections of Principal Receivables on such Date of Processing, which amount shall be first, if any other Principal Sharing Series in Group One is outstanding and in its Amortization Period or Accumulation Period (as such terms are defined in the Agreement), retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections in accordance with Section 4.04 of the Agreement to other Series in Group One on the related Distribution Date, and second paid to the Holders of the Transferor Certificates; provided however, that the amount to be paid to the Holders of the Transferor Certificates pursuant to this subsection 4.1(a)(ii) on any Date of Processing shall be paid to such Holders only if the Transferor Amount on such Date of Processing is greater than the Required Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance (after giving effect to all Principal Receivables transferred to the Trust on such day and any amounts deposited in the Excess Funding Account on such day) and otherwise shall be deposited in the Excess Funding Account until the Transferor Amount is greater than the Required Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance and applied in accordance with Section 4.02 of the Agreement and the remainder shall be paid to the Holders of the Transferor Certificates...
Daily Allocations. During the Rapid Amortization Period. ------------------------------------------------------- During the Rapid Amortization Period, the Servicer shall, prior to the close of business on each Date of Processing, allocate the following amounts as set forth below:
(i) Allocate to the Series 1998-4 Certificateholders and deposit and retain in the Finance Charge Account an amount equal to the product of (A) the Floating Allocation Percentage on such Date of Processing and (B) the aggregate amount of Collections of Finance Charge Receivables on such Date of Processing.
(ii) Allocate to the Series 1998-4 Certificateholders and deposit and retain in the Principal Account an amount equal to the product of (A) the Fixed/Floating Allocation Percentage on such Date of Processing and (B) the aggregate amount of Collections of Principal Receivables on such Date of Processing; provided, however, that after -------- ------- the date on which an amount of such Collections equal to the Invested Amount has been deposited into the Collection Account and allocated to the Series 1998-4 Certificateholders, the amount determined in accordance with this subparagraph (ii) shall be paid to the Holder of the Exchangeable Transferor Certificate only if the Transferor Interest on such Date of
Daily Allocations. All allocations to Shareholders of items included within the Trust’s Profits and Losses attributable daily shall be allocated solely among the Shareholders recognized as shareholders as of the close of business each Business Day, as follows:
(a) For purposes of maintaining the Capital Accounts and in determining the rights of the Shareholders among themselves, except as otherwise provided in this Article VI, each item of income, gain, loss and deduction shall be allocated among Shareholders in accordance with their respective Percentage Interests.
(b) Any item of loss or deduction otherwise allocated to the Managing Owner pursuant to Section 6.3(a) which is in excess of such Managing Owner’s positive Adjusted Capital Account balance (following adjustment to reflect the allocation of all other items for such period) shall instead be allocated to the other Shareholders in accordance with their respective Percentage Interests to the extent such item of loss or deduction exceeds such Managing Owner’s Adjusted Capital Account balance; provided that the allocation of any such item to such other Shareholders shall only be made hereunder to the extent the allocation would not result in or increase a negative balance in the Adjusted Capital Account of such other Shareholder. If such an allocation occurs, items of income or gain that would otherwise be allocated to the Managing Owner equal to the amount of such allocated loss or deduction will be allocated to the other Shareholders in accordance with their Percentage Interests as quickly as possible.
(c) If any Shareholder unexpectedly receives any adjustments, allocations or distributions described in Treasury Regulation sections 1.704-1(b)(ii)(d)(4), (5) or (6), items of Trust income and gain shall be specially allocated to such Shareholder in an amount and manner sufficient to eliminate a deficit in its Adjusted Capital Account created by such adjustments, allocations or distributions as quickly as possible. This section 6.3(c) is intended to constitute a “qualified income offset” within the meaning of Treasury Regulation section 1.704-1(b)(2)(ii)(d).
(d) Notwithstanding any other provision of this Trust Agreement, upon or prior to the issuance of additional Shares, the Managing Owner shall have the sole and complete discretion, without the approval of any other Shareholder, to amend any provision of this Article VI in any manner, as is necessary, appropriate or advisable to comply with any current or future prov...
Daily Allocations. If:
(i) the short-term deposit rating of the Servicer by Standard & Poor's is below "A-1" or the short-term deposit rating of the Servicer by Moody's is below "P- 1"and, if rated by Fitch, is below "X-0" by Fitch; or
(ii) First USA Bank, National Association is not the Servicer; then within 5 Business Days of the occurrence of such event and thereafter, as promptly as possible after the Date of Processing of Collections with respect to the Receivables, but in no event later than two Business Days following such Date of Processing, the Servicer shall deposit all Collections directly into the Collection Account and the Collection Account shall be moved from the Servicer if then maintained with it; provided, however, that the Servicer may designate a lesser amount for deposit into the Collection Account upon satisfaction of the Rating Agency Condition. The Servicer shall notify the Trustee of any such event and shall provide the Trustee with the account number, account designation of such account and name of the institution with which such account has been established. Should the Servicer be required to make daily deposits of Collections into the Collection Account pursuant to this subsection, the Servicer shall establish a mechanism by which Collections are to be allocated between the Certificateholder and the Transferor and deposited into the Finance Charge Account and the Principal Account, which method shall satisfy the Rating Agency Condition.
Daily Allocations of Collections Allocated to a Series. ------------------------------------------------------ Daily allocations of the portion of Collections allocated to the Series Collection Subaccount of each Series shall be made in the manner set forth in the related Supplement.
Daily Allocations. The portion of Aggregate Daily Collections allocated to the VFC Certificateholders pursuant to Article III of the Agreement shall be allocated and distributed as set forth in this Article III.
(i) On each Business Day, an amount equal to the Accrued Expense Amount for such day shall be transferred from the Series 1998-1 Collection Subaccount to the Series 1998-1 Non-Principal Collection Sub-subaccount; provided that funds representing any portion of the Accrued Expense Amount which constitute Program Costs or Unreserved Interest shall only be transferred to the extent that, after giving effect to the transfer of such amounts and the deposit of any remaining Collections to the Series 1998-1 Principal Collection Sub-subaccount, the Target Receivables Amount would not exceed the Allocated Receivables Amount.
(ii) Following the transfers pursuant to clause (i) above, any remaining funds on deposit in the Series 1998-1 Collection Subaccount shall be transferred to the Series 1998-1
Daily Allocations. 31 SECTION 3.04. Determination of Interest................................33 SECTION 3.05. Determination of Series 2000-1 Monthly Principal.........34 SECTION 3.06. Applications.............................................35 SECTION 3.07. Prepayment...............................................37
Daily Allocations. (a) The portion of Aggregate Daily Collections allocated to the Term Certificates and the Series 1994-3 Subordinated Interest pursuant to Article III of the Agreement shall be allocated and distributed as set forth in this Article III by the Trustee based solely on the information provided it by the Master Servicer in the Daily Report (upon which the Trustee may conclusively rely).
