Common use of Excess Principal Amount Sharing Clause in Contracts

Excess Principal Amount Sharing. (a) Shared Excess Available Principal Amounts allocable to the Series 2008-2 on any Distribution Date shall be treated as Series 2008-2 Available Principal Amounts for such Distribution Date. (b) Shared Excess Available Principal Amounts allocable to the Series 2008-2 with respect to any Distribution Date shall mean an amount equal to the Series Principal Amounts Shortfall, if any, with respect to the Series 2008-2 for such Distribution Date; provided, however, that if the aggregate amount of Shared Excess Available Principal Amounts for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date is less than the Aggregate Series Principal Amounts Shortfall for such Distribution Date, then Shared Excess Available Principal Amounts allocable to Series 2008-2 on such Distribution Date shall equal the product of (i) Shared Excess Available Principal Amounts for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date and (ii) a fraction, the numerator of which is the Series Principal Amounts Shortfall with respect to Series 2008-2 for such Distribution Date and the denominator of which is the Aggregate Series Principal Amounts Shortfall for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date.

Appears in 2 contracts

Samples: Indenture Supplement (National City Credit Card Master Trust), Indenture Supplement (National City Credit Card Master Note Trust)

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Excess Principal Amount Sharing. (a) Shared Excess Available Principal Amounts allocable to the Series 2008-2 3 on any Distribution Date shall be treated as Series 2008-2 3 Available Principal Amounts for such Distribution Date. (b) Shared Excess Available Principal Amounts allocable to the Series 2008-2 3 with respect to any Distribution Date shall mean an amount equal to the Series Principal Amounts Shortfall, if any, with respect to the Series 2008-2 3 for such Distribution Date; provided, however, that if the aggregate amount of Shared Excess Available Principal Amounts for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date is less than the Aggregate Series Principal Amounts Shortfall for such Distribution Date, then Shared Excess Available Principal Amounts allocable to Series 2008-2 3 on such Distribution Date shall equal the product of (i) Shared Excess Available Principal Amounts for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date and (ii) a fraction, the numerator of which is the Series Principal Amounts Shortfall with respect to Series 2008-2 3 for such Distribution Date and the denominator of which is the Aggregate Series Principal Amounts Shortfall for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date.

Appears in 1 contract

Samples: Indenture Supplement (National City Credit Card Master Trust)

Excess Principal Amount Sharing. (a) Shared Excess Available Principal Amounts allocable to the Series 2008-2 1 on any Distribution Date shall be treated as Series 2008-2 1 Available Principal Amounts for such Distribution Date. (b) Shared Excess Available Principal Amounts allocable to the Series 2008-2 1 with respect to any Distribution Date shall mean an amount equal to the Series Principal Amounts Shortfall, if any, with respect to the Series 2008-2 1 for such Distribution Date; provided, however, that if the aggregate amount of Shared Excess Available Principal Amounts for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date is less than the Aggregate Series Principal Amounts Shortfall for such Distribution Date, then Shared Excess Available Principal Amounts allocable to Series 2008-2 1 on such Distribution Date shall equal the product of (i) Shared Excess Available Principal Amounts for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date and (ii) a fraction, the numerator of which is the Series Principal Amounts Shortfall with respect to Series 2008-2 1 for such Distribution Date and the denominator of which is the Aggregate Series Principal Amounts Shortfall for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date.

Appears in 1 contract

Samples: Indenture Supplement (National City Credit Card Master Trust)

Excess Principal Amount Sharing. (a) Shared Excess Available Principal Amounts allocable to the Series 2008-2 2005-[- ] on any Distribution Date shall be treated as Series 2008-2 2005-[- ] Available Principal Amounts for such Distribution Date. (b) Shared Excess Available Principal Amounts allocable to the Series 2008-2 2005-[- ] with respect to any Distribution Date shall mean an amount equal to the Series Principal Amounts Shortfall, if any, with respect to the Series 2008-2 2005-[- ] for such Distribution Date; provided, however, that if the aggregate amount of Shared Excess Available Principal Amounts for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date is less than the Aggregate Series Principal Amounts Shortfall for such Distribution Date, then Shared Excess Available Principal Amounts allocable to Series 2008-2 2005-[- ] on such Distribution Date shall equal the product of (i) Shared Excess Available Principal Amounts for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date and (ii) a fraction, the numerator of which is the Series Principal Amounts Shortfall with respect to Series 2008-2 2005-[- ] for such Distribution Date and the denominator of which is the Aggregate Series Principal Amounts Shortfall for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date.

Appears in 1 contract

Samples: Indenture Supplement (National City Credit Card Master Trust)

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Excess Principal Amount Sharing. (a) Shared Excess Available Principal Amounts allocable to the Series 20082007-2 1 on any Distribution Date shall be treated as Series 20082007-2 1 Available Principal Amounts for such Distribution Date. (b) Shared Excess Available Principal Amounts allocable to the Series 20082007-2 1 with respect to any Distribution Date shall mean an amount equal to the Series Principal Amounts Shortfall, if any, with respect to the Series 20082007-2 1 for such Distribution Date; provided, however, that if the aggregate amount of Shared Excess Available Principal Amounts for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date is less than the Aggregate Series Principal Amounts Shortfall for such Distribution Date, then Shared Excess Available Principal Amounts allocable to Series 20082007-2 1 on such Distribution Date shall equal the product of (i) Shared Excess Available Principal Amounts for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date and (ii) a fraction, the numerator of which is the Series Principal Amounts Shortfall with respect to Series 20082007-2 1 for such Distribution Date and the denominator of which is the Aggregate Series Principal Amounts Shortfall for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date.

Appears in 1 contract

Samples: Indenture Supplement (National City Bank /)

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