Determination of Monthly Interest. (a) The amount of monthly interest (“Class A Monthly Interest”) distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance of the Class A Certificates as of close of business on the immediately preceding Record Date; provided that Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,666.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)
Determination of Monthly Interest. (a) The amount of monthly interest (“Class A Monthly Interest”) distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance of the Class A Certificates as of close of business on the immediately preceding Record Date; provided that Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,6661,093,333.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)
Determination of Monthly Interest. (a) The amount of monthly interest (“Class A Monthly Interest”) distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance of the Class A Certificates as of close of business on the immediately preceding Record Date; provided that Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,6661,003,333.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)
Determination of Monthly Interest. (a) The amount of monthly interest (“Class A Monthly Interest”) distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance of the Class A Certificates as of close of business on the immediately preceding Record Date; provided that Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,6663,196,111.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)
Determination of Monthly Interest. (a) The amount of monthly interest (“Class A Monthly Interest”) distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance of the Class A Certificates as of close of business on the immediately preceding Record Date; provided that Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,6661,466,666.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)
Determination of Monthly Interest. (a) The amount of monthly interest (“"Class A Monthly Interest”") distributable from the Collection Account with respect to the Class A Certificates on any each Distribution Date shall be an amount equal to one-one twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance amount of the Class A Certificates as of the close of business on the immediately preceding Record Date; provided that provided, however, with respect to the August 2001 Distribution Date, Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,6665,107,200.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fleet Credit Card Master Trust Ii)
Determination of Monthly Interest. (a) The amount of monthly interest (“"Class A Monthly Interest”") distributable from the Collection Account with respect to the Class A Certificates Notes on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) (the Class A Certificate Note Interest Rate and (ii) the outstanding principal balance Class A Note Principal Balance as of the Class A Certificates as of close of business on the immediately last day of the preceding Record Date; provided that Due Period. The Class A Monthly Interest for the first Distribution Date shall be an amount will equal to $1,671,6661,354,506.
Appears in 1 contract
Samples: Indenture Supplement (Household Affinity Funding Corp Iii)
Determination of Monthly Interest. (a) The amount of monthly interest (“"Class A Monthly Interest”") distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance of the Class A Certificates as of close of business on the immediately preceding Record Date; provided that Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,6662,015,538.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)
Determination of Monthly Interest. (a) The amount of monthly interest (“Class A Monthly Interest”) distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) (A) a fraction, the Class A Certificate Rate numerator of which is the actual number of days in the related Interest Period and (ii) the outstanding principal balance of the Class A Certificates as of close of business on the immediately preceding Record Date; provided that Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,666.denominator of
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chase Manhattan Bank Usa)
Determination of Monthly Interest. (a) The amount of monthly interest (“"Class A Monthly Interest”") distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance of the Class A Certificates as of close of business on the immediately preceding Record Date; provided that Class A Monthly Interest for provided, however, that, with respect to the first Distribution Date Date, Class A -------- ------- Monthly Interest shall be an amount equal to $1,671,6663,277,895.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Capital One Master Trust)
Determination of Monthly Interest. (a) The amount of monthly interest (“"Class A Monthly Interest”") distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance amount of the Class A Certificates as of close of business on the immediately preceding Record Date; provided that provided, however, with respect to the first Distribution Date, Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,6662,696,354.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Providian National Bank)
Determination of Monthly Interest. (a) The amount of monthly interest (“Class A Monthly Interest”) distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance of the Class A Certificates as of close of business on the immediately preceding Record Date; provided that Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,6662,066,666.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)
Determination of Monthly Interest. (a) The amount of monthly interest (“"Class A Monthly Interest”") distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance of the Class A Certificates as of close of business on the immediately last day of the preceding Record DateMonthly Period; provided that Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,6667,381,333.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)
Determination of Monthly Interest. (a) The amount of monthly interest (“"Class A Monthly Interest”") distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance of the Class A Certificates as of the close of business on the immediately preceding Record Datelast day of the most recently ended Monthly Period; provided that Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,666730,804.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)
Determination of Monthly Interest. (a) The amount of monthly interest (“"Class A Monthly Interest”") distributable from the Collection Account with respect to the Class A Certificates on any each Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance amount of the Class A Certificates as of the close of business on the immediately preceding Record Date; provided that provided, however, with respect to the October 2000 Distribution Date, Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,6665,165,062.50.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fleet Bank National Association /Ri/)
Determination of Monthly Interest. (a) The amount of monthly interest (“"Class A Monthly Interest”") distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to one-twelfth of the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance of the Class A Certificates as of close of business on the immediately preceding Record Datelast day of the most recently ended Monthly Period; provided that Class A Monthly Interest for the first Distribution Date shall be an amount equal to $1,671,6661,930,031.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)
