Excess Spread. On or before each Transfer Date, the Servicer shall instruct the Trustee in writing (which writing shall be substantially in the form of Exhibit B hereto) to apply Excess Spread with respect to the related Monthly Period to make the following distributions on each Transfer Date in the following priority: (a) an amount equal to the Class A Required Amount, if any, with respect to such Transfer Date will be used to fund the Class A Required Amount and be applied in accordance with, and in the priority set forth in, subsection 4.09(a); (b) an amount equal to the aggregate amount of Class A Investor Charge-Offs which have not been previously reimbursed will be treated as a portion of Investor Principal Collections and deposited into the Principal Account on such Transfer Date; (c) an amount equal to the Class B Required Amount, if any, with respect to such Transfer Date will be used to fund the Class B Required Amount and be applied first in accordance with, and in the priority set forth in, subsection 4.09(b) and then any remaining amount available to pay the Class B Investor Default Amount shall be treated as a portion of Investor Principal Collections and deposited into the Principal Account on such Transfer Date;
(d) an amount equal to the aggregate amount by which the Class B Investor Interest has been reduced below the initial Class B Investor Interest for reasons other than the payment of principal to the Class B Certificateholders (but not in excess of the aggregate amount of such reductions which have not been previously reimbursed) will be treated as a portion of Investor Principal Collections and deposited into the Principal Account on such Transfer Date; (e) an amount equal to the Collateral Minimum Monthly Interest plus the amount of any past due Collateral Minimum Monthly Interest for such Transfer Date will be paid to the Collateral Interest Holder in accordance with subsection 5.01(c); (f) if the Seller or The Bank of New York is the Servicer, an amount equal to the aggregate amount of accrued but unpaid Collateral Interest Servicing Fees will be paid to the Servicer; (g) an amount equal to the Collateral Default Amount, if any, for the prior Monthly Period will be treated as a portion of Investor Principal Collections and deposited into the Principal Account on such Transfer Date; (h) an amount equal to the aggregate amount by which the Collateral Interest Amount has been reduced for reasons other than the payment of amounts with respect to th...
Excess Spread. The remaining Class B Available Funds, if any, ------------- shall constitute Excess Spread and shall be allocated and distributed as set forth in subsection 4.6(d).
Excess Spread. On or before each Transfer Date, the Servicer shall instruct the Trustee in writing (which writing shall be substantially in the form of Exhibit B hereto) to apply, Excess Spread with respect to the related Monthly Period, to make the following distributions on each Transfer Date in the following priority:
Excess Spread. The Credit Parties shall not permit the Trailing Excess Spread to be less than three and one-quarter percent (3.00%).
Excess Spread. 37 SECTION 4.12 Reallocated Principal Collections...........................38 SECTION 4.13 Shared Principal Collections................................39 SECTION 4.14 Principal Funding Account...................................40 SECTION 4.15 Reserve Account.............................................41 SECTION 4.16
Excess Spread. The remaining Collateral Available ------------- Funds, if any, shall constitute Excess Spread and shall be allocated and distributed as set forth in subsection 4.6(d).
Excess Spread. The Credit Parties shall not permit the Trailing Excess Spread (UK) to be less than eight percent (8.00%).
Excess Spread. The Borrower shall not permit the Excess Spread to be less than twenty-five (25) basis points as at the end of any Collection Period.
Excess Spread. $__________
Excess Spread. 33 Section 4.10 Reallocated Principal Collections................. 35 Section 4.11 Cash Collateral Account........................... 35 Section 4.12 Interchange; Interchange Monthly Servicing Fee.................................... 38 Section 4.13 Determination of LIBOR............................ 39 Section 4.14 Postponement of Accumulation Period........................................... 40 (i)
