Deposits into the Collection Account. (a) Not later than the second Business Day following the completion of each Billing Cycle in which the Addition Date occurs, the Servicer shall deposit into the Collection Account any amounts received from the Obligors relating to the Additional Accounts to which such Billing Cycle relates during such Billing Cycle to the extent not so deposited pursuant to subsection 3(b) below and Article IV of the Agreement. (b) On or before the second Business Day following the end of each Billing Cycle which occurs during the 30-days immediately following such Addition Date, the Seller shall deposit into the Collection Account an amount equal to, with respect to Receivables in the Additional Accounts in each Billing Cycle in which the Addition Date occurs, the Collections of Finance Charge Receivables and Principal Receivables processed on each Date of Processing from and including the first Date of Processing in such Billing Cycle through and including the Date of Processing immediately preceding the Addition Date.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust), Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust), Pooling and Servicing Agreement (Peoples Bank)
