Common use of Increases in Invested Amount Clause in Contracts

Increases in Invested Amount. On the last day of each Monthly Period during the Funding Period, commencing November 30, 1996, the Invested Amount shall increase to the extent that the Seller Amount on such day exceeds the product of (A) the sum of 1.0% and the Required Seller Percentage on such date and (B) the sum of the aggregate amount 42 47 of Principal Receivables in the Trust and amounts on deposit in the Excess Funding Account on such day; provided, however, that the Invested Amount shall in no event exceed $500,000,000 or increase pursuant to this Section 4.17 by an amount in excess of the Pre-Funded Amount immediately prior to giving effect to such increase. Such increase in the Invested Amount shall be allocated to the Class A Certificates, the Class B Certificates and the Collateral Interest Holder on a pro rata basis based on the Class A Invested Amount, the Class B Invested Amount and the Collateral Invested Amount immediately prior to such increase. Upon any increase in the Invested Amount pursuant to this Section 4.17, the Servicer shall instruct the Trustee in writing to withdraw from the Pre-Funding Account and pay to Holders of the Seller Certificates no later than the next succeeding Business Day an amount equal to the amount of such increase in the Invested Amount.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Advanta Credit Card Master Trust Ii), Pooling and Servicing Agreement (Advanta Credit Card Master Trust Ii)

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Increases in Invested Amount. On the last day of each Monthly Period Wednesday during the Funding Period, commencing November 30February 11, 19961998, the Invested Amount shall increase to the extent that the Seller Amount on such the preceding day exceeds the product of (A) the sum of 1.00.50% and the Required Seller Percentage on such date and (B) the sum of the aggregate amount 42 47 of Principal Receivables in the Trust and amounts on deposit in the Excess Funding Account on such preceding day; provided, however, that the Invested Amount shall in no event exceed $500,000,000 1,150,000,000 or increase pursuant to this Section 4.17 by an amount in excess of the Pre-Funded Amount immediately prior to giving effect to such increase. Such increase in the Invested Amount shall be allocated to the Class A Certificates, the Class B Certificates and the Collateral Interest Holder on a pro rata basis based on the Class A Invested Amount, the Class B Invested Amount and the Collateral Invested Amount immediately prior to such increase. Upon any increase in the Invested Amount pursuant to this Section 4.17, the Servicer shall instruct the Trustee in writing to withdraw from the Pre-Funding Account and pay to Holders of the Seller Certificates no later than the next succeeding Business Day an amount equal to the amount of such increase in the Invested Amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Advanta Credit Card Master Trust Ii)

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Increases in Invested Amount. On the last day of each Monthly Period during the Funding Period, commencing November 30___________ __, 1996199____, the Invested Amount shall increase to the extent that the Seller Transferor Amount on such day exceeds the product of (A) the sum of 1.0% of____% and the Required Seller Transferor Percentage on such date and (B) the sum of (i) the product of the aggregate amount 42 47 of Principal Receivables in the Trust and one minus the Discount Percentage and (ii) amounts on deposit in the Excess Funding Account on such day; provided, however, that the Invested Amount shall in no event exceed $500,000,000 __________ or increase pursuant to this Section 4.17 4.16 by an amount in excess of the Pre-Funded Amount immediately prior to giving effect to such increase. Such increase in the Invested Amount shall be allocated to the Class A Certificates, the Class B Certificates and the Collateral Interest Holder Class C Interests on a pro rata basis based on the Class A Invested Amount, the Class B Invested Amount and the Collateral Class C Invested Amount immediately prior to such increase. Upon any increase in the Invested Amount pursuant to this Section 4.174.16, the Servicer shall instruct the Trustee in writing to withdraw from the Pre-Funding Account and pay to Holders of the Seller Transferor Certificates no later than the next succeeding Business Day an amount equal to the amount of such increase in the Invested Amount.]

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Travelers Bank Credit Card Master Trust I)

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