Excess Finance Charge Collections. On each Distribution Date, (a) for each Group, Servicer shall apply the aggregate amount for all outstanding Series in such Group of the amounts which the related Supplements specify are to be treated as "Excess Finance Charge Collections" for such Distribution Date to each Series in such Group, pro rata, in proportion to the Finance Charge Shortfalls, if any, with respect to each such Series, and (b) Servicer shall withdraw (or shall instruct Trustee to withdraw) from the Collection Account and pay to Transferor an amount equal to the excess, if any, of (x) the aggregate amount for all outstanding Series in a Group of the amounts which the related Supplements specify are to be treated as "Excess Finance Charge Collections" for such Distribution Date over (y) the aggregate amount for all outstanding Series in such Group which the related Supplements specify are "Finance Charge Shortfalls," for such Distribution Date; provided that the sharing of Excess Finance Charge Collections among Series in a Group will continue only until such time, if any, at which Transferor shall deliver to Trustee an Officer's Certificate to the effect that, in the reasonable belief of Transferor, the continued sharing of Excess Finance Charge Collections among Series in any Group would have adverse regulatory implications with respect to Transferor. Following the delivery by Transferor of such an Officer's Certificate to Trustee, there will not be any further sharing of Excess Finance Charge Collections among Series in any Group. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES.]
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Samples: Pooling and Servicing Agreement (Mellon Bank Premium Finance Master Trust), Pooling and Servicing Agreement (Mellon Bank Premium Finance Loan Master Trust)
Excess Finance Charge Collections. On each Distribution Date, (a) for each Group, Servicer shall apply the aggregate amount for all outstanding Excess Allocation Series in such Group of the amounts which the related Supplements specify are to be treated as "Excess Finance Charge Collections" for such Distribution the related Transfer Date to each Series in such Groupother Excess Allocation Series, pro rata, in proportion to the Finance Charge Shortfalls, if any, with respect to each such Series, and (b) Servicer shall withdraw (or shall instruct Trustee to withdraw) from the Collection Account and pay to Transferor an amount equal to the excess, if any, of (x) the aggregate amount for all outstanding Excess Allocation Series in a Group of the amounts which the related Supplements specify are to be treated as "Excess Finance Charge Collections" for such Distribution Date over (y) the aggregate amount for all outstanding Excess Allocation Series in such Group which the related Supplements specify are "Finance Charge Shortfalls," ", for such Distribution Date; provided that the sharing of Excess Finance Charge Collections among Excess Allocation Series in a Group will continue only until such time, if any, at which as Transferor shall deliver to Trustee an Officer's Certificate to the effect that, in the reasonable belief of Transferor, the continued sharing of Excess Finance Charge Collections among Excess Allocation Series in any Group would have adverse regulatory implications with respect to Transferor. Following the delivery by Transferor of such an Officer's Certificate to Trustee, there will not be any further sharing of Excess Finance Charge Collections among Series in any Group. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIESExcess Allocation Series.]
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First National Bank of Commerce)
Excess Finance Charge Collections. On each Distribution Payment Date, (a) for each Group, the Servicer shall apply the aggregate amount for all outstanding Series in such Group of the amounts which the related Supplements specify are to be treated as "allocate Excess Finance Charge Collections" for such Distribution Date Collections (as described below) to each Series in such GroupExcess Allocation Series, pro rata, in proportion to the Finance Charge ShortfallsShortfalls (as described below), if any, with respect to each such Series, Series and (b) the Servicer shall withdraw (or shall instruct Trustee to withdraw) from the Collection Account and pay to Transferor the holders of Trust Beneficial Interests or Certificates an amount equal to the excess, if any, of (x) the aggregate amount for all outstanding Series in a Group of the amounts Collections of Finance Charge and Administrative Receivables which the related Supplements specify are to be treated as "Excess Finance Charge Collections" for such Distribution Payment Date over (y) the aggregate amount for all outstanding Series in such Group which the related Supplements specify are "Finance Charge Shortfalls," for such Distribution Series and such Payment Date; provided provided, however, that the sharing of Excess Finance Charge Collections among Series in a Group will continue only until such time, if any, at which the Transferor shall deliver to the Indenture Trustee an Officer's Certificate to the effect that, in the reasonable belief of the Transferor, the continued sharing of Excess Finance Charge Collections among Series in any Group would have adverse regulatory implications with respect to the Transferor. Following Notwithstanding the delivery by Transferor foregoing, a Group of such an Officer's Certificate to Trustee, there will not be any further sharing of Series may specify in their related Indenture Supplements that Excess Finance Charge Collections from such Series shall be allocated as provided above but only among the Series in any such Group. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES.]
Appears in 1 contract
Samples: Master Indenture (Advanta Business Recievables Corp)
Excess Finance Charge Collections. On each Distribution Date, (a) for each Group, Group the Servicer shall apply the aggregate amount for all outstanding Series in such Group of the amounts which the related Supplements specify are to be treated as "Excess Finance Charge Collections" for such Distribution Date to each Series in such Group, pro rata, in proportion to the Finance Charge Shortfalls, if any, with respect to each such Series, and (b) the Servicer shall withdraw (or shall instruct the Trustee to withdraw) from the Collection Account and pay to the Holder of the Transferor Certificate an amount equal to the excess, if any, of (x) the aggregate amount for all outstanding Series in a Group of the amounts which the related Supplements specify are to be treated as "Excess Finance Charge Collections" for such Distribution Date over (y) the aggregate amount for all outstanding Series in such Group which the related Supplements specify are "Finance Charge Shortfalls," for such Distribution Date; provided provided, however, that the sharing of Excess Finance Charge Collections among Series in a Group will continue only until such time, if any, at which the Transferor shall deliver to the Trustee an Officer's Certificate to the effect that, in the reasonable belief of the Transferor, the continued sharing of Excess Finance Charge Collections among Series in any Group would have adverse regulatory implications with respect to the Transferor. Following the delivery by the Transferor of such an Officer's Certificate to the Trustee, there will not be any further sharing of Excess Finance Charge Collections among Series in any Group. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES.]
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Target Receivables Corp)
Excess Finance Charge Collections. On each Distribution Date, (a) for each Group, Group the Servicer shall apply the aggregate amount for all outstanding Series in such Group of the amounts which the related Supplements specify are to be treated as "“Excess Finance Charge Collections" ” for such Distribution Date to each Series in such Group, pro rata, in proportion to the Finance Charge Shortfalls, if any, with respect to each such Series, and (b) the Servicer shall withdraw (or shall instruct the Trustee to withdraw) from the Collection Account and pay to the Holder of the Transferor Certificate an amount equal to the excess, if any, of (x) the aggregate amount for all outstanding Series in a Group of the amounts which the related Supplements specify are to be treated as "“Excess Finance Charge Collections" ” for such Distribution Date over (y) the aggregate amount for all outstanding Series in such Group which the related Supplements specify are "“Finance Charge Shortfalls," ” for such Distribution Date; provided provided, however, that the sharing of Excess Finance Charge Collections among Series in a Group will continue only until such time, if any, at which the Transferor shall deliver to the Trustee an Officer's ’s Certificate to the effect that, in the reasonable belief of the Transferor, the continued sharing of Excess Finance Charge Collections among Series in any Group would have adverse regulatory implications with respect to the Transferor. Following the delivery by the Transferor of such an Officer's ’s Certificate to the Trustee, there will not be any further sharing of Excess Finance Charge Collections among Series in any Group. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES.]
Appears in 1 contract
Excess Finance Charge Collections. On each Distribution Date, (a) for each Group, the Servicer shall apply the aggregate amount for all outstanding Series in such Group of the amounts which the related Supplements specify are to be treated as "allocate Excess Finance Charge Collections" for such Distribution Date Collections (as described below) to each Series in such GroupExcess Allocation Series, pro rata, in proportion to the Finance Charge ShortfallsShortfalls (as described below), if any, with respect to each such Series, Series and (b) the Servicer shall withdraw (or shall instruct Trustee to withdraw) from the Collection Account and pay to the Holders of the Transferor Certificates an amount equal to the excess, if any, of (x) the aggregate amount for all outstanding Series in a Group of the amounts Collections of Finance Charge Receivables which the related Supplements specify are to be treated as "Excess Finance Charge CollectionsEXCESS FINANCE CHARGE COLLECTIONS" for such Distribution Date over (y) the aggregate amount for all outstanding Series in such Group which the related Supplements specify 64 72 are "Finance Charge Shortfalls,FINANCE CHARGE SHORTFALLS" for such Series and such Distribution Date; provided provided, however, that the sharing of Excess Finance Charge Collections among Series in a Group will continue only until such time, if any, at which the Transferor shall deliver to the Indenture Trustee an Officer's Certificate to the effect that, in the reasonable belief of the Transferor, the continued sharing of Excess Finance Charge Collections among Series in any Group would have adverse regulatory implications with respect to Transferoran Account Owner. Following Notwithstanding the delivery by Transferor foregoing, a Group of such an Officer's Certificate to Trustee, there will not be any further sharing of Series may specify in their related Indenture Supplements that Excess Finance Charge Collections from such Series shall be allocated as provided above but only among the Series in any such Group. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES.]
Appears in 1 contract
Samples: Master Indenture (Associates Credit Card Receivables Corp)
Excess Finance Charge Collections. On each Distribution Date, (a) for each Group, the Servicer shall apply the aggregate amount for all outstanding Series in such Group of the amounts which the related Supplements specify are to be treated as "Excess Finance Charge CollectionsEXCESS FINANCE CHARGE COLLECTIONS" for such Distribution Date to each Series in such Group, pro rata, in proportion to the Finance Charge Shortfalls, if any, with respect to each such Series, and (b) the Servicer shall withdraw (or shall instruct the Trustee to withdraw) from the Collection Account and pay to the Transferor an amount equal to the excess, if any, of (x) the aggregate amount for all outstanding Series in a Group of the amounts which the related Supplements specify are to be treated as "Excess Finance Charge CollectionsEXCESS FINANCE CHARGE COLLECTIONS" for such Distribution Date over (y) the aggregate amount for all outstanding Series in such Group which the related Supplements specify are "Finance Charge ShortfallsFINANCE CHARGE SHORTFALLS," for such Distribution Date; provided that the sharing of Excess Finance Charge Collections among Series in a Group will continue only until such time, if any, at which the Transferor shall deliver to the Trustee an Officer's Certificate to the effect that, in the reasonable belief of the Transferor, the continued sharing of Excess Finance Charge Collections among Series in any Group would have adverse regulatory implications with respect to the Transferor. Following the delivery by the Transferor of such an Officer's Certificate to the Trustee, there will not be any further sharing of Excess Finance Charge Collections among Series in any Group. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES.]
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mellon Premium Finance Loan Owner Trust)
Excess Finance Charge Collections. On each Distribution Date, (a) for each Group, Servicer shall apply the aggregate amount for all outstanding Excess Allocation Series in such Group of the amounts which the related Supplements specify are to be treated as "Excess Finance Charge Collections" for such Distribution the related Transfer Date to each Series in such Groupother Excess Allocation Series, pro rata, in proportion to the Finance Charge Shortfalls, if any, with respect to each such Series, and (b) Servicer shall withdraw (or shall instruct Trustee to withdraw) from the Collection Account and pay to the Holder of the Transferor Certificate an amount equal to the excess, if any, of (x) the aggregate amount for all outstanding Excess Allocation Series in a Group of the amounts which the related Supplements specify are to be treated as "Excess Finance Charge Collections" for such Distribution Date over (y) the aggregate amount for all outstanding Excess Allocation Series in such Group which the related Supplements specify are "Finance Charge Shortfalls," ", for such Distribution Date; provided that the sharing of Excess Finance Charge Collections among Excess Allocation Series in a Group will continue only until such time, if any, at which as Transferor shall deliver to Trustee an Officer's Certificate to the effect that, in the reasonable belief of Transferor, the continued sharing of Excess Finance Charge Collections among Excess Allocation Series in any Group would have adverse regulatory implications with respect to Transferor. Following the delivery by Transferor of such an Officer's Certificate to Trustee, there will not be any further sharing of Excess Finance Charge Collections among Series in any Group. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIESExcess Allocation Series.]
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First National Bank of Commerce)
Excess Finance Charge Collections. On each Distribution DateBusiness Day, (a) for each Group, Group the Servicer shall apply the aggregate amount for all outstanding Series in such Group of the amounts which the related Supplements specify are to be treated as "Excess Finance Charge Collections" for such Distribution Date Business Day to each Series in such Group, pro rata, in proportion to the aggregate amount for all outstanding Series which the related Supplements specify are "Finance Charge Shortfalls", if any, with respect to each such Series, and (b) the Servicer shall withdraw (or shall instruct the Trustee to withdraw) from the Collection Account and pay to the Holder of the Exchangeable Transferor Certificate an amount equal to the excess, if any, of (x) the aggregate amount for all outstanding Series in a Group of the amounts which the related Supplements specify are to be treated as "Excess Finance Charge Collections" for such Distribution Date over (y) the aggregate amount for all outstanding Series in such Group which the related Supplements specify are "Finance Charge Shortfalls," for such Distribution Date; provided provided, however, that the sharing of Excess Finance Charge Collections among Series in a Group will continue only until such time, if any, at which the Transferor shall deliver to the Trustee an Officer's Certificate to the effect that, in the reasonable belief of the Transferor, the continued sharing of Excess Finance Charge Collections among Series in any Group would have adverse regulatory implications with respect to the Transferor. Following the delivery by the Transferor of such an Officer's Certificate to the Trustee, there will not be any further sharing of Excess Finance Charge Collections among Series in any Group. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES.]
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Pier 1 Imports Inc/De)
Excess Finance Charge Collections. On each Distribution Date, (a) for each Group, the Servicer shall apply the aggregate amount for all outstanding Series in such Group of the amounts which the related Supplements specify are to be treated as "allocate Excess Finance Charge Collections" for such Distribution Date Collections with respect to the Series in a Group to each Series in such Group, pro rata, in proportion to the Finance Charge Shortfalls, if any, with respect to each such Series, Series and (b) the Servicer shall withdraw (or shall instruct the Trustee to withdraw) from the Collection Account and pay to Transferor the Holders of the Seller Interest an amount equal to the excessremainder, if any, of (xi) the aggregate amount for all outstanding Series in a Group of the amounts which that the related Supplements specify are to be treated as "Excess Finance Charge CollectionsEXCESS FINANCE CHARGE COLLECTIONS" for such Distribution Date over less (yii) the aggregate amount for all outstanding Series in such Group which that the related Supplements specify are "Finance Charge Shortfalls,FINANCE CHARGE SHORTFALLS" for such Distribution Date; provided provided, however, that the sharing of Excess Finance Charge Collections among Series in a Group will continue only until such time, if any, at which Transferor the Seller shall deliver to the Trustee an Officer's Certificate to the effect that, in the reasonable belief of Transferorthe Seller, the continued sharing of Excess Finance Charge Collections among Series in any Group would have adverse regulatory implications with respect to Transferorthe Seller. Following the delivery by Transferor the Seller of such an Officer's Certificate to the Trustee, there will not be any further sharing of Excess Finance Charge Collections among Series in any Group. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES.]
Appears in 1 contract
Samples: Pooling and Servicing Agreement (National City Credit Card Master Trust)