Common use of Determination of Principal Amounts Clause in Contracts

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates for each Distribution Date, beginning with the Class B Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for each Distribution Date, beginning with the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement Supplement (Metris Companies Inc), Pooling and Servicing Agreement (Metris Master Trust)

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Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series [-] Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Class A Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such the related Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with (x) during the Accumulation Period, the Distribution Date following the Distribution Date on which the Class B Principal Payment Commencement DateA Invested Amount is paid in full and (y) during the Early Amortization Period, the Distribution Date on which the Class A Invested Amount is paid in full, shall be equal to the least lesser of (i) the Available Investor Series [-] Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Excess Collateral Monthly Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates Excess Collateral for each Distribution Transfer Date, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class C Principal Payment Commencement DateB Invested Amount will be paid in full, prior to payment in full of the Excess Collateral Amount, shall be equal to the least lesser of (i) the Available Investor Series [-] Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Excess Collateral Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series 1998-2 Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with the Class B Principal Payment Commencement Date, or, in the case of distributions of Class B Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the least lesser of (i) the Available Investor Series 1998-2 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for each Distribution Date, beginning with the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D B Excess Amounts, the Class D B Excess Amount.

Appears in 1 contract

Samples: Series Supplement (Metris Master Trust)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable disxxxxxxxble from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series 2001-4 Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Class A Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such the related Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with (x) during the Accumulation Period, the Distribution Date following the Distribution Date on which the Class B Principal Payment Commencement DateA Invested Amount is paid in full and (y) during the Early Amortization Period, the Distribution Date on which the Class A Invested Amount is paid in full, shall be equal to the least lesser of (i) the Available Investor Series 2001-4 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Excess Collateral Monthly Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates Excess Collateral for each Distribution Transfer Date, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class C Principal Payment Commencement DateB Invested Amount will be paid in full, prior to payment in full of the Excess Collateral Amount, shall be equal to the least lesser of (i) the Available Investor Series 2001-4 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Excess Collateral Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 1 contract

Samples: Series 2001 4 Supplement to Amended and Restated Pooling and Servicing Agreement (Metris Master Trust)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates for each Distribution Date, beginning with the Class B Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for each Distribution Date, beginning with the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.and

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Receivables Inc)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series 1999-2 Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Scheduled Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such the related Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with the Class B Principal Payment Commencement Date, or, in the case of distributions of Class B Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the least lesser of (i) the Available Investor Series 1999-2 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for each Distribution Date, beginning with the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D B Excess Amounts, the Class D B Excess Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Receivables Inc)

Determination of Principal Amounts. (a) The amount of principal xxxxxxxal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series 2001-1 Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Class A Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such the related Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with (x) during the Accumulation Period, the Distribution Date following the Distribution Date on which the Class B Principal Payment Commencement DateA Invested Amount is paid in full and (y) during the Early Amortization Period, the Distribution Date on which the Class A Invested Amount is paid in full, shall be equal to the least lesser of (i) the Available Investor Series 2001-1 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Excess Collateral Monthly Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates Excess Collateral for each Distribution Transfer Date, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class C Principal Payment Commencement DateB Invested Amount will be paid in full, prior to payment in full of the Excess Collateral Amount, shall be equal to the least lesser of (i) the Available Investor Series 2001-1 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Excess Collateral Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") (i) distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Early Amortization Period shall be equal to the least lesser of (iA) the Available Investor Series 2004-1 Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, and (B) the Class A Invested Amount on the related Transfer Date, or (ii) available for deposit into the Principal Funding Account on each Distribution Transfer Date with respect to the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, shall be equal to the least of (A) the Available Series 2004-1 Principal Collections on deposit in the Principal Account with respect to such Transfer Date, (B) the applicable Controlled Deposit Amount for such Transfer Date and (iiiC) the Class A Adjusted Invested Amount on minus the Principal Funding Account Balance for such Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with the Class B Principal Payment Commencement Date, or, in the case of distributions of Class B Excess Amounts pursuant to Section 4.12(b) of the Agreement, on each Distribution Date during the Accumulation Period, shall be equal to the least of (i) the Available Investor Series 2004-1 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for each Distribution Date, beginning with the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D B Excess Amounts, the Class D B Excess Amount.

Appears in 1 contract

Samples: Series Supplement (Metris Master Trust)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date, beginning with the Distribution Date with respect to in the month following the month in which the Accumulation Period or, if earlier, the Early Amortization Period Period, begins, shall be equal to the least of (i) the Available Investor Series 2004-2 Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect to the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such the related Transfer Date. (b) The amount of principal (the "Class B M Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates M Securities for each Distribution Date, beginning with (x) during the Accumulation Period, the Distribution Date in the month following the month in which the Accumulation Period begins and (y) during the Early Amortization Period, the Distribution Date on which the Class B Principal Payment Commencement DateA Invested Amount is paid in full, shall be equal to the least of (i) the Available Investor Series 2004-2 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, prior to the payment in full of the Class M Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B M Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates B Securities for each Distribution Date, beginning with (x) during the Accumulation Period, the Distribution Date in the month following the month in which the Accumulation Period begins and (y) during the Early Amortization Period, the Distribution Date on which the Class C Principal Payment Commencement DateM Invested Amount is paid in full, shall be equal to the least of (i) the Available Investor Series 2004-2 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B M Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, prior to the payment in full of the Class B Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C B Adjusted Invested Amount on such Transfer Date. (d) The amount of principal (the "Class D “Excess Collateral Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class D Certificates Excess Collateral for each Distribution Transfer Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date (x) during the Accumulation Period, the Distribution Date in the month following the month in which the Accumulation Period begins and (y) during the Early Amortization Period, the Transfer Date immediately preceding the Distribution Date on which the Class B Invested Amount will be paid in full, prior to payment in full of the Excess Collateral Amount, shall be equal to the lesser least of (i) the Available Investor Series 2004-2 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B M Principal and Class C B Principal, if any, (ii) for each Distribution Date with respect to the Class D Invested Accumulation Period, prior to the payment in full of the portion of the Excess Collateral Amount not retained by the Transferor and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess AmountCollateral Adjusted Invested Amount on such Transfer Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Receivables Inc)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series 1999- Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with the Class B Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Series 1999- Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Credit Enhancement Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates Credit Enhancement for each Distribution Date, beginning with the Class C Credit Enhancement Principal Payment Commencement Date, or, in the case of distributions of Credit Enhancement Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the least lesser of (i) the Available Investor Series 1999- Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Credit Enhancement Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Credit Enhancement Excess Amounts, the Class D Credit Enhancement Excess Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series 1998-1 Principal Collections on deposit in the Principal Account with respect to the related Transfer DateMonthly Period; provided, however, that with respect to any Distribution Date during the Controlled Amortization Period, Class A Principal shall not exceed the lesser of (i) the Class A Controlled Distribution Amount and (ii) for each the Class A Invested Amount; provided, further that with respect to any Distribution Date with respect the Accumulation Period, prior to the payment in full Early Amortization Period following a Defeasance, Class A Principal shall be equal to the lesser of (i) the Defeasance Funding Account Balance and (ii) the Class A Invested Amount and on or prior Amount; provided, further that with respect to the Expected Final Payment Series 1998-1 Termination Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) Class A Principal shall be an amount equal to the Class A Adjusted Invested Amount on such Transfer Date. (b) Amount. The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with on the Class B Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Series 1998-1 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date Monthly Period after application thereof to Class A Principal, if any; provided, however, that with respect to any Distribution Date during the Controlled Amortization Period, Class B Principal shall not exceed the lesser of (i) the Class B Controlled Distribution Amount and (ii) for each the Class B Invested Amount; provided, further that with respect to any Distribution Date with respect to the Accumulation PeriodEarly Amortization Period following a Defeasance, on or prior Class B Principal shall be equal to the Expected Final Payment Date, lesser of (i) the applicable Controlled Deposit Amount for such Transfer Date (minus the Defeasance Funding Account Balance after application of amounts on deposit therein to Class A Principal with respect to such Transfer Date) and (iiiii) the Class B Adjusted Invested Amount on such Transfer Amount; provided, further that with respect to the Series 1998- 1 Termination Date. (c) , Class B Principal shall be an amount equal to the Class B Invested Amount. The amount of principal (the "Class C CTO Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates Collateralized Trust Obligations for each Distribution Date, beginning with on or after the Class C CTO Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Series 1998-1 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date Monthly Period after application thereof to Class A Principal and Class B Principal, if any, (ii) for each ; provided that with respect to any Distribution Date with respect to the Accumulation PeriodEarly Amortization Period following a Defeasance, on or prior CTO Principal shall be equal to the Expected Final Payment Date, lesser of (i) the applicable Controlled Deposit Amount for such Transfer Date (minus the Defeasance Funding Account Balance after application of amounts on deposit therein to Class A Principal and the Class B Principal and (ii) the CTO Invested Amount; provided, further with respect to such Transfer the Series 1998-1 Termination Date) and (iii) , CTO Principal shall be an amount equal to the Class C Adjusted CTO Invested Amount on such Transfer Date. (d) Amount. The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates Securities for each Distribution Date, beginning with on the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, and on each Distribution Date during thereafter until the Accumulation PeriodTrust is terminated or until the Class D Invested Amount is paid in full, shall be equal to the lesser of (i) the Available Investor Series 1998-1 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date Monthly Period after application thereof to Class A Principal, Class B Principal and Class C CTO Principal, if any, (ii) and the Trustee, acting in accordance with instructions from the Servicer, will withdraw such amounts from the Principal Account and, to the extent of the Class D Invested Amount on Amount, deposit such Transfer Date and (iii) amounts in the case of distributions of Class D Excess Amounts, Distribution Account for distribution to the Class D Excess AmountSecurityholder on the next succeeding Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Federated Department Stores Inc /De/)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates for Securities shall be the following: On each Distribution Date Business Day with respect to the Amortization Revolving Period shall be an amount equal to the least Class A Percentage of the amounts deposited into the Principal Account from the Principal Funding Account pursuant to Section 9A of this Series Supplement; On each Business Day designated by the Transferor during the Amortization Period an amount equal to the amount designated by the Transferor pursuant to subsection 4.12(f) of the Agreement; and With respect to each Distribution Date during the Amortization Period an amount equal to (i) the Available Investor Series 1998-3 Principal Collections on deposit in the Principal Account pursuant to subsection 4.9(c) of the Agreement with respect to each Business Day in the related Monthly Period less (ii) the aggregate amount withdrawn from the Principal Account for payment to the Class A Securityholders pursuant to subsection 4.12(f) of the Agreement with respect to funds deposited in the Principal Account pursuant to subsection 4.9(c) of the Agreement during the related Monthly Period; provided, however, that with respect to any Business Day, Class A Principal may not exceed the Class A Invested Amount; provided, further, that with respect to the related Transfer Scheduled Series 1998-3 Termination Date, (ii) for each Distribution Date with respect the Accumulation Period, prior Class A Principal shall be an amount equal to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such Transfer Date. (b) Amount. The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates for Securities shall be the following: On each Business Day with respect to the Revolving Period an amount equal the lesser of (i) the excess of the Class B Invested Amount over the Stated Class B Amount on such Business Day after taking into account all distributions with respect to the Class A Invested Amount on such Business Day and (ii) the Class B Percentage of the amounts deposited into the Principal Account from the Principal Funding Account pursuant to Section 9A of this Series Supplement, to be distributed only after any such distributions with respect to the Class A Invested Amount; On each Business Day designated by the Transferor on and after the Class B Principal Payment Commencement Date an amount equal to the amount designated by the Transferor pursuant to subsection 4.12(f) of the Agreement after application thereof to Class A Principal; and With respect to each Distribution Date, Date beginning with the Class B Principal Payment Commencement Date, shall be an amount equal to the least of (i) the Available Investor Series 1998-3 Principal Collections remaining on deposit in the Principal Account pursuant to subsection 4.9(c) of the Agreement with respect to each Business Day in the related Transfer Date Monthly Period after application thereof to Class A Principal, if any, Principal less (ii) the aggregate amount withdrawn from the Principal Account for each payment to the Class B Securityholders pursuant to subsection 4.12(f) of the Agreement with respect to funds deposited in the Principal Account pursuant to subsection 4.9(c) of the Agreement during the related Monthly Period; provided, however, that with respect to any Distribution Date Date, Class B Principal may not exceed the Class B Invested Amount; provided, further, that with respect to the Accumulation Period, on or prior to the Expected Final Payment Scheduled Series 1998-3 Termination Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A B Principal with respect shall be an amount equal to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) Amount. The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for Securities shall be the following: On each Business Day with respect to the Revolving Period an amount equal the lesser of (i) the excess of the Class C Invested Amount over the Stated Class C Amount on such Business Day after taking into account all distributions with respect to the Class A Invested Amount and the Class B Invested Amount on such Business Day and (ii) the Class C Percentage of the amounts deposited into the Principal Account from the Principal Funding Account pursuant to Section 9A of this Series Supplement, to be distributed only after any such distributions with respect to the Class A Invested Amount and the Class B Invested Amount; On each Business Day designated by the Transferor on and after the Class C Principal Payment Commencement Date an amount equal to the amount designated by the Transferor pursuant to subsection 4.12(f) of the Agreement after application thereof to Class A Principal and Class B Principal; and With respect to each Distribution Date, beginning with the Class C Principal Payment Commencement Date, shall be an amount equal to the least of (i) the Available Investor Series 1998-3 Principal Collections remaining on deposit in the Principal Account pursuant to subsection 4.9(c) of the Agreement with respect to each Business Day in the related Transfer Date Monthly Period after application thereof to Class A Principal and Class B Principal, if any, Principal less (ii) the aggregate amount withdrawn from the Principal Account for each payment to the Class C Securityholders pursuant to subsection 4.12(f) of the Agreement with respect to funds deposited in the Principal Account pursuant to subsection 4.9(c) of the Agreement during the related Monthly Period; provided, however, that with respect to any Distribution Date Date, Class C Principal may not exceed the Class C Invested Amount; provided, further, that with respect to the Accumulation Period, on or prior to the Expected Final Payment Scheduled Series 1998-3 Termination Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A C Principal and the Class B Principal with respect shall be an amount equal to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) Amount. The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for Securities shall be the following: On each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date Business Day during the Accumulation Period, shall be Revolving Period an amount equal to the lesser of (i) the Available Investor Principal Collections remaining excess of the Class D Invested Amount over the Stated Class D Amount on deposit in the Principal Account such Business Day after taking into account all distributions with respect to the related Transfer Class A Invested Amount, the Class B Invested Amount and the Class C Invested Amount on such Business Day and (ii) the amounts deposited into the Principal Account from the Principal Funding Account after any such distributions in respect of the Class A Invested Amount, the Class B Invested Amount and the Class C Invested Amount; On each Business Day designated by the Transferor on and after the Class D Principal Payment Commencement Date an amount equal to the amount designated by the Transferor pursuant to subsection 4.12(f) of the Agreement after application thereof to Class A Principal, Class B Principal and Class C Principal; and With respect to each Distribution Date beginning with the Class D Principal Payment Commencement Date, if anyon each Business Day, an amount equal to (i) the Available Series 1998-3 Principal Collections remaining on deposit in the Principal Account pursuant to subsection 4.9(c) of the Agreement with respect to each Business Day in the related Monthly Period after application thereof to Class A Principal, Class B Principal and Class C Principal less (ii) the aggregate amount withdrawn from the Principal Account for payment to the Class D Securityholders pursuant to subsection 4.12(f) of the Agreement with respect to funds deposited in the Principal Account pursuant to subsection 4.9(c) of the Agreement with respect to the related Monthly Period; provided, however, that with respect to the Scheduled Series 1998-3 Termination Date, the Class D Principal shall be an amount equal to the Class D Invested Amount; provided further, that on any Business Day during any period other than an Early Amortization Period, the Transferor may designate that an amount up to the excess of the Class D Invested Amount over the Stated Class D Amount on such Transfer Date day after taking into account all adjustments of the Class A Invested Amount, Class B Invested Amount and (iii) in the case of distributions of Class D Excess Amounts, C Invested Amount on such day shall be subtracted from the Class D Excess AmountInvested Amount and added to the Transferor Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Federated Department Stores Inc /De/)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Collection Account with respect to the Class A Certificates for on each Distribution Date with respect to the Amortization Period shall be equal to an amount calculated as follows: the least sum of (i) an amount equal to the Available Investor product of the Principal Allocation Percentage and the aggregate amount of Collections of Principal Receivables with respect to the preceding Monthly Period, (ii) any amount on deposit in the Principal Special Funding Account that is distributable to the Class A Certificates pursuant to subsection 4.6(d) with respect to the related Transfer Datepreceding Monthly Period, (iiiii) for each the amount, if any, allocated to the Class A Certificates pursuant to subsections 4.6(a)(iii), (iv), (v), (vi) and (vii), (iv) the amount of Shared Principal Collections allocated to the Class A Certificates with respect to the preceding Monthly Period pursuant to Section 4.4 of the Agreement and (v) the amount of Shared Transferor Principal Collections allocated to the Class A Certificates with respect to the preceding Monthly Period pursuant to subsection 4.5(b); provided, however, that (i) with respect to any Distribution Date with respect during the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to Principal may not exceed the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and Distribution Date; (iiiii) with respect to any Distribution Date, Class A Principal may not exceed the Class A Adjusted Invested Amount on such Transfer Amount; and (iii) with respect to the Scheduled Series 2000-__ Termination Date, the Class A Principal shall be an amount equal to the Class A Adjusted Invested Amount. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Collection Account with respect to the Class B Certificates for on each Distribution Date, beginning with Date on and after the Distribution Date on which the Class B Principal Payment Commencement DateA Invested Amount is paid in full, shall be an amount equal to the least lesser of: (x) the sum of (i) an amount equal to the Available Investor product of the Principal Allocation Percentage and the aggregate amount of Collections remaining of Principal Receivables (subtracting from such product the amount of Reallocated Class B Principal Collections) with respect to the preceding Monthly Period, (ii) any amount on deposit in the Principal Special Funding Account that is distributable to the Class B Certificates pursuant to subsection 4.6(d) with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation preceding Monthly Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the amount, if any, allocated to the Class B Adjusted Invested Amount on Certificates pursuant to subsections 4.6(a)(iv), (v) and (vii) with respect to such Transfer Distribution Date. , (civ) The the amount, if any, of principal allocable to the Class A Certificates pursuant to subsection 4.4(a) (without regard to the proviso thereof), respectively, but remaining after distributions have been made to Class A Certificateholders pursuant to subsections 4.6(c)(i), (v) the amount of principal (Shared Principal Collections allocated to the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account B Certificates with respect to the Class C Certificates for each Distribution Date, beginning with preceding Monthly Period pursuant to Section 4.4 of the Agreement and (vi) the amount of Shared Transferor Principal Collections allocated to the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account B Certificates with respect to the related Transfer Date after application thereof preceding Monthly Period pursuant to Class A Principal subsection 4.5(b) and (y) the Class B PrincipalInvested Amount, if anyprovided, (ii) for each Distribution Date however, that with respect to the Accumulation Period, on or prior to the Expected Final Payment Scheduled Series 2000-__ Termination Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The shall be an amount of principal (the "Class D Principal") distributable from the Distribution Account with respect equal to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.,

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Target Receivables Corp)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates for each Distribution Date, beginning with the Class B Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining remain- ing on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for each Distribution Date, beginning with the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Receivables Inc)

Determination of Principal Amounts. (a) Class A Certificate Principal Distributable Amount. The amount of -------------------------------------------------- required to be deposited as principal into the Class A Certificate Account on each Deposit Date (the "Class A PrincipalCertificate Principal Distributable Amount") distributable from -------------------------------------------------- shall be an amount, as determined by Servicer in the Distribution Account or available for deposit into Monthly Statement on the Principal Funding Account with respect Determination Date, equal to 94.00% (subject to the Class A Certificates for each Distribution Date with respect to proviso set forth below) of the Amortization Period shall be equal to the least sum of (i) the Available Investor Principal Collections amount by which the Aggregate Discounted Lease Contract Balance as of the beginning of business on deposit in the Principal first day of the Collection Period immediately preceding such Deposit Date (plus the original principal amount of any Class A Certificates issued during such Collection Period) exceeds the Aggregate Discounted Lease Contract Balance as of the close of business on the last day of such Collection Period, plus (ii) all Prepayment Fees to the ---- extent deposited into the Investment Account with respect to the related Transfer DateDetermination Date pursuant to Section 2.03(d); provided, (ii) for each Distribution Date however, that, so long --------------- -------- ------- as any amount is owed hereunder with respect the Accumulation Period, prior to the payment in full holders of the Class A Invested Amount and on or prior to Certificates, upon the Expected Final Payment Dateoccurrence of a Servicer Default, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Certificate Principal Distributable Amount on such Transfer Date.shall at all times be equal to the entire Class A Certificate Investor Interest. All Bond Insurer Premiums shall be paid out of amounts otherwise distributable to the Class A Certificateholders hereunder and under Section 4.07(a) hereof. --------------- (b) Class B Certificate Principal Distributable Amount. The amount of -------------------------------------------------- required to be deposited as principal into the Class B Certificate Account on each Deposit Date (the "Class B PrincipalCertificate Principal Distributable Amount") distributable from -------------------------------------------------- shall be an amount, as determined by Servicer in the Distribution Account or available for deposit into Monthly Statement on the Principal Funding Account with respect Determination Date, equal to 6.00% (subject to the Class B Certificates for each Distribution Date, beginning with proviso set forth below) of the Class B Principal Payment Commencement Date, shall be equal to the least sum of (i) the Available Investor Principal Collections remaining sum of the amount by which the Aggregate Discounted Lease Contract Balance as of the beginning of business on deposit in the Principal first day of the Collection Period immediately preceding such Deposit Date (plus the original principal amount of any Class B Certificates issued during such Collection Period) exceeds the Aggregate Discounted Lease Contract Balance as of the close of business on the last day of such Collection Period, plus (ii) all Prepayment ---- Fees to the extent deposited into the Investment Account with respect to the related Transfer Determination Date after application thereof pursuant to Class A PrincipalSection 2.03(d); provided, if anyhowever, (ii) for each Distribution Date that, --------------- -------- ------- upon payment in full of all amounts owed hereunder with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus holders of the Class A Principal with respect Certificates, the sum "6.00%" set forth in this Section 4.06(b) --------------- shall automatically be deemed to such Transfer Date) be changed to "100.00%"; and (iii) provided, further, -------- ------- that in no event shall the Class B Adjusted Invested Certificate Principal Distributable Amount on such Transfer Date. (c) The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for each Distribution Date, beginning with the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and more than the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer DateCertificate Investor Interest. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Rockford Industries Inc)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series 2000-3 Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Class A Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such the related Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with (x) during the Accumulation Period, the Distribution Date following the Distribution Date on which the Class B Principal Payment Commencement DateA Invested Amount is paid in full and (y) during the Early Amortization Period, the Distribution Date on which the Class A Invested Amount is paid in full, shall be equal to the least lesser of (i) the Available Investor Series 2000-3 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Excess Collateral Monthly Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates Excess Collateral for each Distribution Transfer Date, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class C Principal Payment Commencement DateB Invested Amount will be paid in full, prior to payment in full of the Excess Collateral Amount, shall be equal to the least lesser of (i) the Available Investor Series 2000-3 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Excess Collateral Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series 1998-2 Principal Collections on deposit in the Principal Account with respect to the related Transfer DateMonthly Period; provided, however, that with respect to any Distribution Date during the Controlled Amortization Period, Class A Principal shall not exceed the lesser of (i) the Class A Controlled Distribution Amount and (ii) for each the Class A Invested Amount; provided, further that with respect to any Distribution Date with respect the Accumulation Period, prior to the payment in full Early Amortization Period following a Defeasance, Class A Principal shall be equal to the lesser of (i) the Defeasance Funding Account Balance and (ii) the Class A Invested Amount and on or prior Amount; provided, further that with respect to the Expected Final Payment Series 1998-2 Termination Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) Class A Principal shall be an amount equal to the Class A Adjusted Invested Amount on such Transfer Date. (b) Amount. The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with on the Class B Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Series 1998-2 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date Monthly Period after application thereof to Class A Principal, if any; provided, however, that with respect to any Distribution Date during the Controlled Amortization Period, Class B Principal shall not exceed the lesser of (i) the Class B Controlled Distribution Amount and (ii) for each the Class B Invested Amount; provided, further that with respect to any Distribution Date with respect to the Accumulation PeriodEarly Amortization Period following a Defeasance, on or prior Class B Principal shall be equal to the Expected Final Payment Date, lesser of (i) the applicable Controlled Deposit Amount for such Transfer Date (minus the Defeasance Funding Account Balance after application of amounts on deposit therein to Class A Principal with respect to such Transfer Date) and (iiiii) the Class B Adjusted Invested Amount on such Transfer Amount; provided, further that with respect to the Series 1998- 2 Termination Date. (c) , Class B Principal shall be an amount equal to the Class B Invested Amount. The amount of principal (the "Class C CTO Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates Collateralized Trust Obligations for each Distribution Date, beginning with on or after the Class C CTO Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Series 1998-2 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date Monthly Period after application thereof to Class A Principal and Class B Principal, if any, (ii) for each ; provided that with respect to any Distribution Date with respect to the Accumulation PeriodEarly Amortization Period following a Defeasance, on or prior CTO Principal shall be equal to the Expected Final Payment Date, lesser of (i) the applicable Controlled Deposit Amount for such Transfer Date (minus the Defeasance Funding Account Balance after application of amounts on deposit therein to Class A Principal and the Class B Principal and (ii) the CTO Invested Amount; provided, further with respect to such Transfer the Series 1998-2 Termination Date) and (iii) , CTO Principal shall be an amount equal to the Class C Adjusted CTO Invested Amount on such Transfer Date. (d) Amount. The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates Securities for each Distribution Date, beginning with on the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, and on each Distribution Date during thereafter until the Accumulation PeriodTrust is terminated or until the Class D Invested Amount is paid in full, shall be equal to the lesser of (i) the Available Investor Series 1998-2 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date Monthly Period after application thereof to Class A Principal, Class B Principal and Class C CTO Principal, if any, (ii) and the Trustee, acting in accordance with instructions from the Servicer, will withdraw such amounts from the Principal Account and, to the extent of the Class D Invested Amount on Amount, deposit such Transfer Date and (iii) amounts in the case of distributions of Class D Excess Amounts, Distribution Account for distribution to the Class D Excess AmountSecurityholder on the next succeeding Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Federated Department Stores Inc /De/)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Collection Account with respect to the Class A Certificates for on each Distribution Date with respect to the Amortization Period shall be equal to an amount calculated as follows: the least sum of (i) an amount equal to the Available Investor product of the Principal Allocation Percentage and the aggregate amount of Collections of Principal Receivables with respect to the preceding Monthly Period, (ii) any amount on deposit in the Principal Special Funding Account that is distributable to the Class A Certificates pursuant to subsection 4.6(d) with respect to the related Transfer Datepreceding Monthly Period, (iiiii) for each the amount, if any, allocated to the Class A Certificates pursuant to subsections 4.6(a)(iii), (iv), (v), (vi) and (vii), (iv) the amount of Shared Principal Collections allocated to the Class A Certificates with respect to the preceding Monthly Period pursuant to Section 4.4 of the Agreement and (v) the amount of Shared Transferor Principal Collections allocated to the Class A Certificates with respect to the preceding Monthly Period pursuant to subsection 4.5(b); PROVIDED, HOWEVER, that (i) with respect to any Distribution Date with respect during the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to Principal may not exceed the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and Distribution Date; (iiiii) with respect to any Distribution Date, Class A Principal may not exceed the Class A Adjusted Invested Amount on such Transfer Amount; and (iii) with respect to the Scheduled Series 1997-1 Termination Date, the Class A Principal shall be an amount equal to the Class A Adjusted Invested Amount. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Collection Account with respect to the Class B Certificates for on each Distribution Date, beginning with Date on and after the Distribution Date on which the Class B Principal Payment Commencement DateA Invested Amount is paid in full, shall be an amount equal to the least lesser of: (x) the sum of (i) an amount equal to the Available Investor product of the Principal Allocation Percentage and the aggregate amount of Collections remaining of Principal Receivables (subtracting from such product the amount of Reallocated Class B Principal Collections) with respect to the preceding Monthly Period, (ii) any amount on deposit in the Principal Special Funding Account that is distributable to the Class B Certificates pursuant to subsection 4.6(d) with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation preceding Monthly Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the amount, if any, allocated to the Class B Adjusted Invested Amount on Certificates pursuant to subsections 4.6(a)(iv), (v) and (vii) with respect to such Transfer Distribution Date. , (civ) The the amount, if any, of principal allocable to the Class A Certificates pursuant to subsection 4.4(a) (without regard to the PROVISO thereof), respectively, but remaining after distributions have been made to Class A Certificateholders pursuant to subsections 4.6(c)(i), (v) the amount of principal (Shared Principal Collections allocated to the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account B Certificates with respect to the Class C Certificates for each Distribution Date, beginning with preceding Monthly Period pursuant to Section 4.4 of the Agreement and (vi) the amount of Shared Transferor Principal Collections allocated to the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account B Certificates with respect to the related Transfer Date after application thereof preceding Monthly Period pursuant to Class A Principal subsection 4.5(b) and (y) the Class B PrincipalInvested Amount, if anyPROVIDED, (ii) for each Distribution Date HOWEVER, that with respect to the Accumulation Period, on or prior to the Expected Final Payment Scheduled Series 1997-1 Termination Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The shall be an amount of principal (the "Class D Principal") distributable from the Distribution Account with respect equal to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.,

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Dayton Hudson Receivables Corp)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Collection Account with respect to the Class A Certificates for on each Distribution Date with respect to the Amortization Period shall be equal to an amount calculated as follows: the least sum of (i) the Available Investor aggregate amount retained in the Collection Account pursuant to Sections 4.2(ii)(y) and 4.2(iii)(y) (minus any Reallocated Principal Collections Collections) with respect to the preceding Monthly Period, (ii) any amount on deposit in the Principal Excess Funding Account allocated to the Class A Certificates pursuant to subsection 4.6(d) with respect to the related Transfer preceding Monthly Period, (iii) the amount, if any, required to be treated as Available Principal Collections pursuant to subsections 4.6(a)(iv), (v), (vi), (vii) (ix) and (x) and (iv) the amount of Shared Principal Collections allocated to the Class A Certificates with respect to the preceding Monthly Period pursuant to Section 4.04 of the Agreement (collectively, the "Available Principal Collections"); provided, however, that (i) with respect to any Distribution Date during the Controlled Amortization Period, Class A Principal may not exceed the Class A Controlled Distribution Amount for such Distribution Date, ; (ii) for each Distribution Date with respect the Accumulation Periodto any Distribution Date, prior to the payment in full of Class A Principal may not exceed the Class A Invested Amount and (after giving effect to any Class A Investor Charge-Off on or prior to the Expected Final Payment that Distribution Date, the applicable Controlled Deposit Amount for such Transfer Date ); and (iii) with respect to the Scheduled Series 2000-1 Termination Date, Class A Principal shall be an amount equal to the Class A Adjusted Invested Amount on such Transfer DateAmount. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Collection Account with respect to the Class B Certificates for on each Distribution Date, beginning with the Class B Principal Payment Commencement Date, shall be equal to the least of Available Principal Collections minus the Class A Principal, in each case for that Distribution Date; provided, however, that (i) with respect to any Distribution Date, Class B Principal may not exceed the Available Class B Invested Amount (after giving effect to any Class B Investor Charge-Off or Reallocated Class B Principal Collections remaining on deposit in the Principal Account that Distribution Date) and (ii) with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Scheduled Series 2000- 1 Termination Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A B Principal with respect shall be an amount equal to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer DateAmount. (c) The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Collection Account with respect to the Class C Certificates for on each Distribution Date, beginning with the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account Date with respect to the related Transfer Date after application thereof to Controlled Amortization Period or the Rapid Amortization Period shall equal the Available Principal Collections minus the Class A Principal and Class B Principal, if anyin each case for that Distribution Date; provided, however, that (i) with respect to any Distribution Date, Class C Principal may not exceed the Class C Excess Invested Amount, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Scheduled Series 2000-1 Termination Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A C Principal and the Class B Principal with respect shall be an amount equal to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Neiman Marcus Group Inc)

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Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Collection Account with respect to the Class A Certificates for on each Distribution Date with respect to the Amortization Period shall be equal to an amount calculated as follows: the least sum of (i) the Available Investor Series 2003-__ Principal Collections on deposit in the Principal Account with respect to the related Transfer such Distribution Date, (ii) for each any amount on deposit in the Special Funding Account that is distributable to the Class A Certificates pursuant to subsection 4.6(d)(i) with respect to the preceding Monthly Period, (iii) the amount of Shared Principal Collections allocated to Series 2003-__ with respect to the preceding Monthly Period pursuant to Section 4.4 of the Agreement and (iv) at the option of the Transferor, the amount of Shared Transferor Principal Collections allocated to Series 2003-__ with respect to the preceding Monthly Period pursuant to subsection 4.5(b); provided, however, that (i) with respect to any Distribution Date with respect during the Accumulation Period, prior to the payment in full of Class A Principal may not exceed the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Distribution Date and (iiiii) with respect to any Distribution Date, Class A Principal may not exceed the Class A Adjusted Invested Amount on such Transfer DateAmount. (b) The amount of principal (the "Class B Collateral Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Collection Account with respect to the Class B Certificates for Collateral Interest on each Distribution Date, beginning with Date on and after the Distribution Date on which the Class B Principal Payment Commencement DateA Invested Amount is paid in full, shall be an amount equal to the least lesser of: (x) the sum of (i) the Available Investor Series 2003-__ Principal Collections remaining with respect to such Distribution Date, (ii) any amount on deposit in the Principal Special Funding Account that is distributable to the Collateral Interest pursuant to subsection 4.6(d)(ii) with respect to the related Transfer preceding Monthly Period, (iii) the amount of Shared Principal Collections allocated to Series 2003-__ with respect to the preceding Monthly Period pursuant to Section 4.4 of the Agreement and (iv) at the option of the Transferor, the amount of Shared Transferor Principal Collections allocated to Series 2003-__ with respect to the preceding Monthly Period pursuant to subsection 4.5(b); provided, however, that with respect to the Distribution Date after application on which the Class A Invested Amount is paid in full, the amounts described in clauses (i), (iii) and (iv) shall be net of any amount thereof applied to the payment of Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iiiy) the Class B Adjusted Collateral Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for each Distribution Date, beginning with the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Target Receivables Corp)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Collection Account with respect to the Class A Certificates for on each Distribution Date with respect to the Amortization Period shall be equal to an amount calculated as follows: the least sum of (i) an amount equal to the Available Investor product of the Principal Allocation Percentage and the aggregate amount of Collections of Principal Receivables with respect to the preceding Monthly Period, (ii) any amount on deposit in the Principal Special Funding Account that is distributable to the Class A Certificates pursuant to subsection 4.6(d) with respect to the related Transfer Datepreceding Monthly Period, (iiiii) for each the amount, if any, allocated to the Class A Certificates pursuant to subsections 4.6(a)(iii), (iv), (v), (vi) and (vii), (iv) the amount of Shared Principal Collections allocated to the Class A Certificates with respect to the preceding Monthly Period pursuant to Section 4.4 of the Agreement and (v) the amount of Shared Transferor Principal Collections allocated to the Class A Certificates with respect to the preceding Monthly Period pursuant to subsection 4.5(b); PROVIDED, HOWEVER, that (i) with respect to any Distribution Date with respect during the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to Principal may not exceed the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and Distribution Date; (iiiii) with respect to any Distribution Date, Class A Principal may not exceed the Class A Adjusted Invested Amount on such Transfer Amount; and (iii) with respect to the Scheduled Series 1998-1 Termination Date, the Class A Principal shall be an amount equal to the Class A Adjusted Invested Amount. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Collection Account with respect to the Class B Certificates for on each Distribution Date, beginning with Date on and after the Distribution Date on which the Class B Principal Payment Commencement DateA Invested Amount is paid in full, shall be an amount equal to the least lesser of: (x) the sum of (i) an amount equal to the Available Investor product of the Principal Allocation Percentage and the aggregate amount of Collections remaining of Principal Receivables (subtracting from such product the amount of Reallocated Class B Principal Collections) with respect to the preceding Monthly Period, (ii) any amount on deposit in the Principal Special Funding Account that is distributable to the Class B Certificates pursuant to subsection 4.6(d) with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation preceding Monthly Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the amount, if any, allocated to the Class B Adjusted Invested Amount on Certificates pursuant to subsections 4.6(a)(iv), (v) and (vii) with respect to such Transfer Distribution Date. , (civ) The the amount, if any, of principal allocable to the Class A Certificates pursuant to subsection 4.4(a) (without regard to the PROVISO thereof), respectively, but remaining after distributions have been made to Class A Certificateholders pursuant to subsections 4.6(c)(i), (v) the amount of principal (Shared Principal Collections allocated to the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account B Certificates with respect to the Class C Certificates for each Distribution Date, beginning with preceding Monthly Period pursuant to Section 4.4 of the Agreement and (vi) the amount of Shared Transferor Principal Collections allocated to the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account B Certificates with respect to the related Transfer Date after application thereof preceding Monthly Period pursuant to Class A Principal subsection 4.5(b) and (y) the Class B PrincipalInvested Amount, if anyPROVIDED, (ii) for each Distribution Date HOWEVER, that with respect to the Accumulation Period, on or prior to the Expected Final Payment Scheduled Series 1998-1 Termination Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The shall be an amount of principal (the "Class D Principal") distributable from the Distribution Account with respect equal to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.,

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Dayton Hudson Receivables Corp)

Determination of Principal Amounts. No principal shall be distributable on the Series 1999-1 Certificates during the Revolving Period except that payments of principal may be made on any Class A VFCs and Class B VFCs as specified in the applicable Issuance Supplements. During the Scheduled Amortization Period or the Rapid Amortization Period, the amount of principal distributable on each Distribution Date shall be determined as follows: (a) The amount of monthly principal distributable on all or any portion of the Class A Certificates on each Distribution Date or required to be deposited into an Accumulation Account (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates for each Distribution Date), beginning with the Class B Principal Payment Commencement DateDistribution Date following the month in which the Scheduled Amortization Period or, if earlier, the Rapid Amortization Period, begins, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if anyMonthly Period, (ii) for each Distribution Date with respect to the Accumulation Scheduled Amortization Period, on or prior the amount specified in the applicable Issuance Supplement and (iii) for each Distribution Date with respect to the Expected Final Payment DateRapid Amortization Period, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Invested Amount prior to any distributions on such Distribution Date. (b) The amount of monthly principal distributable on the Class B Certificates (the "Class B Principal") shall be zero until the Distribution Date that is the Class B Principal Payment Commencement Date and on such Distribution Date and each Distribution Date thereafter shall equal the least of (i) the amount specified in the applicable Issuance Supplement, (ii) the excess, if any, of (A) the Available Principal Collections with respect to the related Monthly Period, over (B) any Class A Principal for such Transfer Distribution Date) , and (iii) the Class B Adjusted Invested Amount (after taking into account any adjustments to be made on such Transfer Distribution Date pursuant to Section 4.11) on such Distribution Date. (c) The amount of monthly principal distributable on the Class C Certificates (the "Class C Principal") distributable from shall be zero until the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for each Distribution Date, beginning with Date that is the Class C Principal Payment Commencement Date, Date and on such Distribution Date and each Distribution Date thereafter shall be equal to the least lesser of (i) the excess, if any, of (A) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Monthly Period, over (B) any Class A Principal and Class B PrincipalPrincipal for such Distribution Date, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount (after taking into account any adjustments to be made on such Transfer Distribution Date pursuant to Section 4.11) on such Distribution Date. (d) The amount of monthly principal distributable on the Class D Certificates (the "Class D Principal") distributable from shall be zero until the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with Date that is the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, Date and on such Distribution Date and each Distribution Date during the Accumulation Period, thereafter shall be equal to the lesser of (i) the excess, if any, of (A) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Monthly Period, over (B) any Class A Principal, Class B Principal and Class C PrincipalPrincipal for such Distribution Date, if any, and (ii) the Class D Invested Amount (after taking into account any adjustments to be made on such Transfer Distribution Date pursuant to Section 4.11) on such Distribution Date. (e) The amount of monthly principal distributable on the Class E Certificates (the "Class E Principal") shall be zero until the Distribution Date that is the Class E Principal Payment Commencement Date and on such Distribution Date and each Distribution Date thereafter shall equal the lesser of (iiii) in the case excess, if any, of distributions of (A) the Available Principal Collections with respect to the related Monthly Period, over (B) any Class A Principal, Class B Principal, Class C Principal and Class D Excess AmountsPrincipal for such Distribution Date, and (ii) the Class D Excess AmountE Invested Amount (after taking into account any adjustments to be made on such Distribution Date pursuant to Section 4.11) on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Stage Stores Inc)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series 2000-2 Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Class A Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such the related Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with (x) during the Accumulation Period, the Distribution Date following the Distribution Date on which the Class B Principal Payment Commencement DateA Invested Amount is paid in full and (y) during the Early Amortization Period, the Distribution Date on which the Class A Invested Amount is paid in full, shall be equal to the least lesser of (i) the Available Investor Series 2000-2 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Excess Collateral Monthly Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates Excess Collateral for each Distribution Transfer Date, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class C Principal Payment Commencement DateB Invested Amount will be paid in full, prior to payment in full of the Excess Collateral Amount, shall be equal to the least lesser of (i) the Available Investor Series 2000-2 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Excess Collateral Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 1 contract

Samples: Transfer Agreement (Metris Master Trust)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates for each Distribution Date with respect to during the Controlled Accumulation Period or Early Amortization Period shall be equal to an amount calculated as follows: the least sum of (i) an amount equal to the product of the ABC Fixed/Floating Allocation Percentage and the aggregate amount of Principal Collections (less the amount of Reallocated Class B Principal Collections and Reallocated Class C Principal Collections) with respect to the preceding Monthly Period, (ii) any amount on deposit in the Excess Funding Account (exclusive of amounts, if any, in the Class D Subaccount) allocated to the Class A Certificates pursuant to subsection 4.9(d) of the Agreement, and any amount on deposit in the Pre-Funding Account (exclusive of any investment earnings) allocated to the Class A Certificates pursuant to Section 4.18, with respect to the preceding Monthly Period, (iii) the amount, if any, allocated to the Class A Certificates pursuant to subsections 4.9(a)(iv), (vi), (viii) and (ix) of the Agreement and, with respect to such subsections, pursuant to subsections 4.10(a) and (b) and 4.14(a), (b) and (c) of the Agreement, and (iv) the amount of Shared Principal Collections allocated to the Class A Certificates with respect to the preceding Monthly Period pursuant to Section 4.8 of the Agreement; provided, however, that with respect to any Distribution Date during the Controlled Accumulation Period, Class A Principal may not exceed the lesser of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Distribution Date and (iiiii) the Class A Adjusted Invested Amount on such Transfer Amount; provided, further, that with respect to the Series 1998-1 Termination Date, the Class A Principal shall be an amount equal to the Class A Invested Amount. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates for each Distribution Date, beginning with Date on or after the Class B Principal Payment Commencement Date, Date shall be equal to an amount calculated as follows: the least sum of (i) an amount equal to the Available Investor product of the ABC Fixed/ Floating Allocation Percentage and the aggregate amount of Principal Collections remaining (less the amount of Reallocated Class B Principal Collections and Reallocated Class C Principal Collections) with respect to the preceding Monthly Period (or, in the case of the first Distribution Date following the date on which an amount equal to the Class A Invested Amount is deposited in the Principal Account to be applied to the payment of Class A Principal, the ABC Fixed/Floating Allocation Percentage of Principal Collections from the date on which such deposit is made), (ii) any amount on deposit in the Principal Excess Funding Account (exclusive of amounts, if any, in the Class D Subaccount) allocated to the Class B Certificates pursuant to subsection 4.9(d) of the Agreement, and any amount on deposit in the Pre-Funding Account (exclusive of any investment earnings) allocated to the Class B Certificates pursuant to Section 4.18, with respect to the related Transfer Date after application thereof to Class A Principalpreceding Monthly Period, (iii) the amount, if any, allocated to the Class B Certificates pursuant to subsections 4.9(a)(iv), (iiviii) for each and (ix) of the Agreement and, with respect to such subsections, pursuant to subsections 4.10(a) and (b) and 4.14(a) and (b) of the Agreement with respect to such Distribution Date and (iv) the amount of Shared Principal Collections allocated to the Class B Certificates with respect to the preceding Monthly Period pursuant to Section 4.8 of the Agreement on or after the Class B Principal Commencement Date; provided, however, that, with respect to any Distribution Date during the Controlled Accumulation Period, on or prior Class B Principal may not exceed the Class B Invested Amount; provided, further, that with respect to the Expected Final Payment Series 1998-1 Termination Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A B Principal with respect shall be an amount equal to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer DateAmount. (c) The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for each Distribution Date, Date beginning with on or after the Class C Principal Payment Commencement Date, Date shall be equal to an amount calculated as follows: the least sum of (i) an amount equal to the Available Investor product of the ABC Fixed/ Floating Allocation Percentage and the aggregate amount of Principal Collections remaining (less the amount of Reallocated Class C Principal Collections) with respect to the preceding Monthly Period (or, in the case of the first Distribution Date following the date on which an amount equal to the Class B Invested Amount is deposited in the Principal Account to be applied to the payment of Class B Principal, the ABC Fixed/Floating Allocation Percentage of Principal Collections from the date on which such deposit is made), (ii) any amounts on deposit in the Principal Excess Funding Account (other than the Class D Subaccount) allocated to the Class C Certificates pursuant to subsection 4.9(d) of the Agreement, and any amount on deposit in the Pre-Funding Account (exclusive of any investment earnings) allocated to the Class C Certificates pursuant to Section 4.18, with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principalpreceding Monthly Period, (iii) the amount, if any, allocated to the Class C Certificates pursuant to subsections 4.9(a)(iv) and (iiix) for each of the Agreement with respect to such Distribution Date and (iv) the amount of Shared Principal Collections allocated to the Class C Certificates with respect to the Accumulation Periodpreceding Monthly Period pursuant to Section 4.8 of the Agreement on and after the Class C Principal Commencement Date; provided, on or prior that with respect to any Distribution Date, Class C Principal may not exceed the Class C Invested Amount; provided, further, that with respect to the Expected Final Payment Series 1998-1 Termination Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A C Principal and the Class B Principal with respect shall be an amount equal to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer DateAmount. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Transfer Date preceding the Class D Principal Payment Commencement Date, and for each Transfer Date thereafter until the Trust is terminated or until the Class D Invested Amount is paid in full, shall equal an amount calculated as follows: the sum of (i) an amount equal to the product of the Class D Fixed/Floating Allocation Percentage of Principal Collections (less the amount of Reallocated Class D Principal Collections) with respect to the preceding Monthly Period (or, in the case of distributions of Class D Excess Amounts, on each the first Distribution Date during following the Accumulation Period, shall be date on which an amount equal to the lesser Class C Invested Amount is deposited in the Principal Account to be applied to the payment of (i) Class C Principal, the Available Investor Class D Fixed/Floating Allocation Percentage of Principal Collections remaining from the date on which such deposit is made), (ii) any amount on deposit in the Principal Excess Funding Account allocated to the Class D Certificates pursuant to subsection 4.9(d) of the Agreement with respect to the related Transfer Date after application thereof to Class A Principalpreceding Monthly Period, Class B Principal and Class C Principal(iii) the amount, if any, allocated to the Class D Certificates pursuant to subsections 4.9(a)(v) and (iix) of the Agreement and, with respect to such subsections, pursuant to subsection 4.10(a) and (b) of the Agreement with respect to such Distribution Date; provided, however, that with respect to the Series 1998-1 Termination Date, the Class D Principal shall be an amount equal to the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greentree Floorplan Funding Corp)

Determination of Principal Amounts. (a) The amount of principal prxxxxxxx (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series 2001-2 Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Class A Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such the related Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with (x) during the Accumulation Period, the Distribution Date following the Distribution Date on which the Class B Principal Payment Commencement DateA Invested Amount is paid in full and (y) during the Early Amortization Period, the Distribution Date on which the Class A Invested Amount is paid in full, shall be equal to the least lesser of (i) the Available Investor Series 2001-2 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Excess Collateral Monthly Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates Excess Collateral for each Distribution Transfer Date, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class C Principal Payment Commencement DateB Invested Amount will be paid in full, prior to payment in full of the Excess Collateral Amount, shall be equal to the least lesser of (i) the Available Investor Series 2001-2 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Excess Collateral Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 1 contract

Samples: Supplement (Metris Master Trust)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available with respect to the Class A Securities for deposit into each Distribution Date shall equal (x) with respect to each of the May 2003 and June 2003 Distribution Dates, zero, and (y) with respect to the July 2003 Distribution Date, the Class A Outstanding Principal Funding Amount; provided, however, that, on and after the Pay Out Commencement Date, Class A Principal distributable from the Distribution Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such Transfer DateOutstanding Principal Amount. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with the Distribution Date following the Distribution Date on which the Class A Outstanding Principal Amount is paid in full, shall equal the Class B Outstanding Principal Amount; provided, however, that, on and after the Pay Out Commencement Date, Class B Principal Payment Commencement Date, shall be equal to distributable from the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Distribution Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) B Securities for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, beginning with the applicable Controlled Deposit Amount for such Transfer Distribution Date (minus on which the Class A Outstanding Principal with respect to such Transfer Date) and (iii) Amount is paid in full, shall equal the Class B Adjusted Invested Amount on such Transfer DateOutstanding Principal Amount. (c) The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for each Distribution Date, beginning with the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The amount of principal (the "Class D Excess Collateral Monthly Principal") distributable from the Distribution Account with respect to the Class D Certificates Excess Collateral for each Distribution Transfer Date, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class D B Outstanding Principal Payment Amount will be paid in full, shall equal the Excess Collateral Outstanding Principal Amount; provided, however, that, on and after the Pay Out Commencement Date, orExcess Collateral Monthly Principal distributable from the Distribution Account with respect to the Excess Collateral for each Transfer Date, in beginning with the case of distributions of Class D Excess Amounts, on each Transfer Date immediately preceding the Distribution Date during on which the Accumulation PeriodClass B Outstanding Principal Amount will be paid in full, shall be equal the Excess Collateral Outstanding Principal Amount; provided further, however, that on any Business Day on and after the Defeasance Date, the Transferor may designate that an amount equal to the lesser excess of (i) the Available Investor Principal Collections remaining amount on deposit in the Principal Funding Account with respect to on such day over the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Stated Amount on such Transfer Date and day, after taking into account all principal payments on such day (iii) in the case of distributions of Class D Excess Amountssuch designated amount, the Class D "Excess AmountCollateral Daily Principal"), shall be withdrawn from the Principal Funding Account and distributed on such Business Day in accordance with subsection 4.12(d) of the Agreement.

Appears in 1 contract

Samples: Amended and Restated Series 2000 2 Supplement (Metris Master Trust)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series 2000-1 Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Class A Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such the related Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with (x) during the Accumulation Period, the Distribution Date following the Distribution Date on which the Class B Principal Payment Commencement DateA Invested Amount is paid in full and (y) during the Early Amortization Period, the Distribution Date on which the Class A Invested Amount is paid in full, shall be equal to the least lesser of (i) the Available Investor Series 2000-1 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Excess Collateral Monthly Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates Excess Collateral for each Distribution Transfer Date, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class C Principal Payment Commencement DateB Invested Amount will be paid in full, prior to payment in full of the Excess Collateral Amount, shall be equal to the least lesser of (i) the Available Investor Series 2000-1 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Excess Collateral Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available with respect to the Class A Securities for deposit into each Distribution Date shall equal (x) with respect to each of the November 2003 and December 2003 Distribution Dates, zero, and (y) with respect to the January 2004 Distribution Date, the Class A Outstanding Principal Funding Amount; provided, however, that, on and after the Pay Out Commencement Date, Class A Principal distributable from the Distribution Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such Transfer DateOutstanding Principal Amount. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with the Distribution Date following the Distribution Date on which the Class A Outstanding Principal Amount is paid in full, shall equal the Class B Outstanding Principal Amount; provided, however, that, on and after the Pay Out Commencement Date, Class B Principal Payment Commencement Date, shall be equal to distributable from the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Distribution Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) B Securities for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, beginning with the applicable Controlled Deposit Amount for such Transfer Distribution Date (minus on which the Class A Outstanding Principal with respect to such Transfer Date) and (iii) Amount is paid in full, shall equal the Class B Adjusted Invested Amount on such Transfer DateOutstanding Principal Amount. (c) The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for each Distribution Date, beginning with the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The amount of principal (the "Class D Excess Collateral Monthly Principal") distributable from the Distribution Account with respect to the Class D Certificates Excess Collateral for each Distribution Transfer Date, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class D B Outstanding Principal Payment Amount will be paid in full, shall equal the Excess Collateral Outstanding Principal Amount; provided, however, that, on and after the Pay Out Commencement Date, orExcess Collateral Monthly Principal distributable from the Distribution Account with respect to the Excess Collateral for each Transfer Date, in beginning with the case of distributions of Class D Excess Amounts, on each Transfer Date immediately preceding the Distribution Date during on which the Accumulation PeriodClass B Outstanding Principal Amount will be paid in full, shall be equal the Excess Collateral Outstanding Principal Amount; provided further, however, that on any Business Day on and after the Defeasance Date, the Transferor may designate that an amount equal to the lesser excess of (i) the Available Investor Principal Collections remaining amount on deposit in the Principal Funding Account with respect to on such day over the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Stated Amount on such Transfer Date and day, after taking into account all principal payments on such day (iii) in the case of distributions of Class D Excess Amountssuch designated amount, the Class D "Excess AmountCollateral Daily Principal"), shall be withdrawn from the Principal Funding Account and distributed on such Business Day in accordance with subsection 4.12(d) of the Agreement.

Appears in 1 contract

Samples: Amended and Restated Series 2001 1 Supplement (Metris Master Trust)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable disxxxxxxxble from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series 2001-3 Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Class A Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such the related Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with (x) during the Accumulation Period, the Distribution Date following the Distribution Date on which the Class B Principal Payment Commencement DateA Invested Amount is paid in full and (y) during the Early Amortization Period, the Distribution Date on which the Class A Invested Amount is paid in full, shall be equal to the least lesser of (i) the Available Investor Series 2001-3 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Excess Collateral Monthly Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates Excess Collateral for each Distribution Transfer Date, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class C Principal Payment Commencement DateB Invested Amount will be paid in full, prior to payment in full of the Excess Collateral Amount, shall be equal to the least lesser of (i) the Available Investor Series 2001-3 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, and (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Excess Collateral Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D Excess Amounts, the Class D Excess Amount.

Appears in 1 contract

Samples: Supplement (Metris Master Trust)

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates Securities for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Series 1998-3 Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such Transfer Date. (b) The amount of principal (the "Class B Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class B Certificates Securities for each Distribution Date, beginning with the Class B Principal Payment Commencement Date, or, in the case of distributions of Class B Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the least lesser of (i) the Available Investor Series 1998-3 Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Invested Amount on such Transfer Date. (c) The amount of principal (the "Class C Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class C Certificates for each Distribution Date, beginning with the Class C Principal Payment Commencement Date, shall be equal to the least of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal and Class B Principal, if any, (ii) for each Distribution Date with respect to the Accumulation Period, on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date (minus the Class A Principal and the Class B Principal with respect to such Transfer Date) and (iii) the Class C Adjusted Invested Amount on such Transfer Date. (d) The amount of principal (the "Class D Principal") distributable from the Distribution Account with respect to the Class D Certificates for each Distribution Date, beginning with the Class D Principal Payment Commencement Date, or, in the case of distributions of Class D Excess Amounts, on each Distribution Date during the Accumulation Period, shall be equal to the lesser of (i) the Available Investor Principal Collections remaining on deposit in the Principal Account with respect to the related Transfer Date after application thereof to Class A Principal, Class B Principal and Class C Principal, if any, (ii) the Class D Invested Amount on such Transfer Date and (iii) in the case of distributions of Class D B Excess Amounts, the Class D B Excess Amount.

Appears in 1 contract

Samples: Series Supplement (Metris Master Trust)

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