Common use of Early Redemption Events Clause in Contracts

Early Redemption Events. Notwithstanding any provision of the Indenture or the Indenture Supplement to the contrary, upon the occurrence of an Early Redemption Event with respect to the Class B(2002-1) Notes (other than an Early Redemption Event described in Section 1201(c) of the Indenture), if none of (i) an Early Redemption Event described in Section 1201(c) of the Indenture, (ii) an Interest Reserve Account Event, (iii) the termination of the Derivative Agreement pursuant to its terms or (iv) an Event of Default and acceleration of the Class B(2002-1) Notes has previously occurred, then the Issuer will not pay any amounts accumulated in the Principal Funding sub-Account for the Class B(2002-1) Notes to the holders of the Class B(2002-1) Notes until the Monthly Principal Payment Date occurring on or immediately following the earliest to occur of: (a) the Expected Principal Payment Date; (b) the date on which an Early Redemption Event Described in Section 1201(c) of the Indenture occurs; (c) the date on which an Interest Reserve Account Event occurs; and (d) the date on which the Derivative Agreement terminates pursuant to its terms. If the Issuer is unable to pay the redemption price in full on such Monthly Principal Payment Date, monthly payments on the Class B(2002-1) Notes will thereafter be made on each following Monthly Principal Payment Date until the Outstanding Dollar Principal Amount of the Class B(2002-1) Notes, plus all accrued and unpaid interest, is paid in full or the Legal Maturity Date occurs, whichever is earlier, subject to Article V of the Indenture and Article III

Appears in 1 contract

Samples: Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii

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Early Redemption Events. Notwithstanding any provision of the Indenture or the Indenture Supplement to the contrary, upon the occurrence of an Early Redemption Event with respect to the Class B(2002A(2003-1) Notes (other than an Early Redemption Event described in Section 1201(c) of the Indenture), if none of (i) an Early Redemption Event described in Section 1201(c) of the Indenture, (ii) an Interest Reserve Account Event, (iii) the termination of the Derivative Agreement pursuant to its terms or (iv) an Event of Default and acceleration of the Class B(2002A(2003-1) Notes has previously occurred, then the Issuer will not pay any amounts accumulated in the Principal Funding sub-Account for the Class B(2002A(2003-1) Notes to the holders of the Class B(2002A(2003-1) Notes until the Monthly Principal Payment Date occurring on or immediately following the earliest to occur of: (a) the Expected Principal Payment Date; (b) the date on which an Early Redemption Event Described in Section 1201(c) of the Indenture occurs; (c) the date on which an Interest Reserve Account Event occurs; and (d) the date on which the Derivative Agreement terminates pursuant to its terms. If the Issuer is unable to pay the redemption price in full on such Monthly Principal Payment Date, monthly payments on the Class B(2002A(2003-1) Notes will thereafter be made on each following Monthly Principal Payment Date until the Outstanding Dollar Principal Amount of the Class B(2002A(2003-1) Notes, plus all accrued and unpaid interest, is paid in full or the Legal Maturity Date occurs, whichever is earlier, subject to Article V of the Indenture and Article III

Appears in 1 contract

Samples: Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii

Early Redemption Events. Notwithstanding any provision of the Indenture or the Indenture Supplement to the contrary, upon the occurrence of an Early Redemption Event with respect to the Class B(2002A(2001-1) Notes (other than an Early Redemption Event described in Section 1201(c) of the Indenture), if none of (i) an Early Redemption Event described in Section 1201(c) of the Indenture, (ii) an Interest Reserve Account Event, (iii) the termination of the Derivative Agreement pursuant to its terms or (iv) an Event of Default and acceleration of the Class B(2002A(2001-1) Notes has previously occurred, then the Issuer will not pay any amounts accumulated in the Principal Funding sub-Account for the Class B(2002A(2001-1) Notes to the holders of the Class B(2002A(2001-1) Notes until the Monthly Principal Payment Date occurring on or immediately following the earliest to occur of: (a) the Expected Principal Payment Date; (b) the date on which an Early Redemption Event Described in Section 1201(c) of the Indenture occurs; (c) the date on which an Interest Reserve Account Event occurs; and (d) the date on which the Derivative Agreement terminates pursuant to its terms. If the Issuer is unable to pay the redemption price in full on such Monthly Principal Payment Date, monthly payments on the Class B(2002A(2001-1) Notes will thereafter be made on each following Monthly Principal Payment Date until the Outstanding Dollar Principal Amount of the Class B(2002A(2001-1) Notes, plus all accrued and unpaid interest, is paid in full or the Legal Maturity Date occurs, whichever is earlier, subject to Article V of the Indenture and Article III

Appears in 1 contract

Samples: Mbna Credit Card Master Note Trust

Early Redemption Events. Notwithstanding any provision of the Indenture or the Indenture Supplement to the contrary, upon the occurrence of an Early Redemption Event with respect to the Class B(2002C(2001-13) Notes (other than an Early Redemption Event described in Section 1201(c) of the Indenture), if none of (i) an Early Redemption Event described in Section 1201(c) of the Indenture, (ii) an Interest Reserve Account Event, (iii) the termination of the Derivative Agreement pursuant to its terms or (iv) an Event of Default and acceleration of the Class B(2002C(2001-13) Notes has previously occurred, then the Issuer will not pay any amounts accumulated in the Principal Funding sub-Account for the Class B(2002C(2001-13) Notes to the holders of the Class B(2002C(2001-13) Notes until the Monthly Principal Payment Date occurring on or immediately following the earliest to occur of: (a) the Expected Principal Payment Date; (b) the date on which an Early Redemption Event Described in Section 1201(c) of the Indenture occurs; (c) the date on which an Interest Reserve Account Event occurs; and (d) the date on which the Derivative Agreement terminates pursuant to its terms. If the Issuer is unable to pay the redemption price in full on such Monthly Principal Payment Date, monthly payments on the Class B(2002C(2001-13) Notes will thereafter be made on each following Monthly Principal Payment Date until the Outstanding Dollar Principal Amount of the Class B(2002C(2001-13) Notes, plus all accrued and unpaid interest, is paid in full or the Legal Maturity Date occurs, whichever is earlier, subject to Article V of the Indenture and Article III

Appears in 1 contract

Samples: Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii

Early Redemption Events. Notwithstanding any provision of the Indenture or the Indenture Supplement to the contrary, upon the occurrence of an Early Redemption Event with respect to the Class B(2002A(2002-1) Notes (other than an Early Redemption Event described in Section 1201(c) of the Indenture), if none of (i) an Early Redemption Event described in Section 1201(c) of the Indenture, (ii) an Interest Reserve Account Event, (iii) the termination of the Derivative Agreement pursuant to its terms or (iv) an Event of Default and acceleration of the Class B(2002A(2002-1) Notes has previously occurred, then the Issuer will not pay any amounts accumulated in the Principal Funding sub-Account for the Class B(2002A(2002-1) Notes to the holders of the Class B(2002A(2002-1) Notes until the Monthly Principal Payment Date occurring on or immediately following the earliest to occur of: (a) the Expected Principal Payment Date; (b) the date on which an Early Redemption Event Described in Section 1201(c) of the Indenture occurs; (c) the date on which an Interest Reserve Account Event occurs; and (d) the date on which the Derivative Agreement terminates pursuant to its terms. If the Issuer is unable to pay the redemption price in full on such Monthly Principal Payment Date, monthly payments on the Class B(2002A(2002-1) Notes will thereafter be made on each following Monthly Principal Payment Date until the Outstanding Dollar Principal Amount of the Class B(2002A(2002-1) Notes, plus all accrued and unpaid interest, is paid in full or the Legal Maturity Date occurs, whichever is earlier, subject to Article V of the Indenture and Article III

Appears in 1 contract

Samples: Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii

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Early Redemption Events. Notwithstanding any provision of the Indenture or the Indenture Supplement to the contrary, upon the occurrence of an Early Redemption Event with respect to the Class B(2002A(2003-111) Notes (other than an Early Redemption Event described in Section 1201(c) of the Indenture), if none of (i) an Early Redemption Event described in Section 1201(c) of the Indenture, (ii) an Interest Reserve Account Event, (iii) the termination of the Derivative Agreement pursuant to its terms or (iv) an Event of Default and acceleration of the Class B(2002A(2003-111) Notes has previously occurred, then the Issuer will not pay any amounts accumulated in the Principal Funding sub-Account for the Class B(2002A(2003-111) Notes to the holders of the Class B(2002A(2003-111) Notes until the Monthly Principal Payment Date occurring on or immediately following the earliest to occur of: (a) the Expected Principal Payment Date; (b) the date on which an Early Redemption Event Described in Section 1201(c) of the Indenture occurs; (c) the date on which an Interest Reserve Account Event occurs; and (d) the date on which the Derivative Agreement terminates pursuant to its terms. If the Issuer is unable to pay the redemption price in full on such Monthly Principal Payment Date, monthly payments on the Class B(2002A(2003-111) Notes will thereafter be made on each following Monthly Principal Payment Date until the Outstanding Dollar Principal Amount of the Class B(2002A(2003-111) Notes, plus all accrued and unpaid interest, is paid in full or the Legal Maturity Date occurs, whichever is earlier, subject to Article V of the Indenture and Article III

Appears in 1 contract

Samples: Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii

Early Redemption Events. Notwithstanding any provision of the Indenture or the Indenture Supplement to the contrary, upon the occurrence of an Early Redemption Event with respect to the Class B(2002C(2002-1) Notes (other than an Early Redemption Event described in Section 1201(c) of the Indenture), if none of (i) an Early Redemption Event described in Section 1201(c) of the Indenture, (ii) an Interest Reserve Account Event, (iii) the termination of the Derivative Agreement pursuant to its terms or (iv) an Event of Default and acceleration of the Class B(2002C(2002-1) Notes has previously occurred, then the Issuer will not pay any amounts accumulated in the Principal Funding sub-Account for the Class B(2002C(2002-1) Notes to the holders of the Class B(2002C(2002-1) Notes until the Monthly Principal Payment Date occurring on or immediately following the earliest to occur of: (a) the Expected Principal Payment Date; (b) the date on which an Early Redemption Event Described in Section 1201(c) of the Indenture occurs; (c) the date on which an Interest Reserve Account Event occurs; and (d) the date on which the Derivative Agreement terminates pursuant to its terms. If the Issuer is unable to pay the redemption price in full on such Monthly Principal Payment Date, monthly payments on the Class B(2002C(2002-1) Notes will thereafter be made on each following Monthly Principal Payment Date until the Outstanding Dollar Principal Amount of the Class B(2002C(2002-1) Notes, plus all accrued and unpaid interest, is paid in full or the Legal Maturity Date occurs, whichever is earlier, subject to Article V of the Indenture and Article III

Appears in 1 contract

Samples: Mbna America Bk Nat Assoc Mbna Master Credit Card Trust Ii

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