Common use of Daily Allocations Clause in Contracts

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. 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 bexxx "X-0X-1" 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. 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 Xxxxx'x is below "P- 1"and, if rated by Fitch, is below "X-0F-1" by Fitch; or (ii) First USA BankChase Manhattan Bank USA, 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. 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 Xxxxx'x is below "P- 1"andP-1"and, if rated by Fitch, is below "X-0F-1" 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.