Investment of Funds in Pre-Funding Account. Funds on deposit in the Pre-Funding Account shall be invested in Cash Equivalents by the Trustee (or, at the direction of the Trustee, by the Servicer on behalf of the Trustee) at the direction of the Servicer. Funds on deposit in the Pre-Funding Account on any Distribution Date, after giving effect to any withdrawals from the Pre-Funding Account, shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date. The proceeds of any such investments shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date and, on such Transfer Date, such proceeds shall be applied as if they were Available Series 1997-2 Finance Charge Collections available to be applied pursuant to Subsection 4.9(a) on the last Business Day of the preceding Monthly Period.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Metris Receivables Inc), Pooling and Servicing Agreement (Metris Receivables Inc)
Investment of Funds in Pre-Funding Account. Funds on deposit in the Pre-Funding Account shall be invested in Cash Equivalents by the Trustee (or, at the direction of the Trustee, by the Servicer on behalf of the Trustee) at the direction of the Servicer. Funds on deposit in the Pre-Funding Account on any Distribution Date, after giving effect to any withdrawals from the Pre-Funding Account, shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date. The proceeds of any such investments shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date and, on such Transfer Date, such proceeds shall be applied as if they were Available Series 1997-2 1 Finance Charge Collections available to be applied pursuant to Subsection 4.9(a) on the last Business Day of the preceding Monthly Period.
Appears in 1 contract
Samples: Pooling and Servicing Agreement Supplement (Metris Companies Inc)
Investment of Funds in Pre-Funding Account. Funds on deposit in the Pre-Funding Account shall be invested in Cash Equivalents by the Trustee (or, at the direction of the Trustee, by the Servicer on behalf of the Trustee) at the direction of the Servicer. Funds on deposit in the Pre-Funding Account on any Distribution Date, after giving effect to any withdrawals from the Pre-Funding Account, shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date. The proceeds of any such investments shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date and, on such Transfer Date, such proceeds shall be applied deposited in the Collection Account and treated as if they were Investment Earnings for application as Available Series 19972001-2 Finance Charge Collections available to be applied pursuant to Subsection subsection 4.9(a) on the last Business Day of the preceding Monthly Period.
Appears in 1 contract
Samples: Supplement (Metris Master Trust)
Investment of Funds in Pre-Funding Account. Funds on deposit in the Pre-Funding Account shall be invested in Cash Equivalents by the Trustee (or, at the direction of the Trustee, by the Servicer on behalf of the Trustee) at the direction of the Servicer. Funds on deposit in the Pre-Funding Account on any Distribution Date, after giving effect to any withdrawals from the Pre-Funding Account, shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date. The proceeds of any such investments shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date and, on such Transfer Date, such proceeds shall be applied deposited in the Collection Account and treated as if they were Investment Earnings for application as Available Series 19972004-2 Finance Charge Collections available to be applied pursuant to Subsection subsection 4.9(a) on the last Business Day of the preceding Monthly Period.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Receivables Inc)
Investment of Funds in Pre-Funding Account. Funds on deposit in the Pre-Funding Account shall be invested in Cash Equivalents by the Trustee (or, at the direction of the Trustee, by the Servicer on behalf of the Trustee) at the direction of the Servicer. Funds on deposit in the Pre-Funding Account on any Distribution Date, after giving effect to any withdrawals from the Pre-Funding Account, shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date. The proceeds of any such investments shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date and, on such Transfer Date, such proceeds shall be applied deposited in the Collection Account and treated as if they were Investment Proceeds for application as Available Series 19971999-2 Finance Charge Collections available to be applied pursuant to Subsection subsection 4.9(a) on the last Business Day of the preceding Monthly Period.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Receivables Inc)
Investment of Funds in Pre-Funding Account. Funds on deposit in the Pre-Funding Account shall be invested in Cash Equivalents by the Trustee (or, at the direction of the Trustee, by the Servicer on behalf of the Trustee) at the direction of the Servicer. Funds on deposit in the Pre-Funding Account on any Distribution Dis- tribution Date, after giving effect to any withdrawals from the Pre-Funding Account, shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date. The proceeds of any such investments shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date and, on such Transfer Date, such proceeds shall be applied as if they were Available Series 1997-2 1 Finance Charge Collections available to be applied pursuant to Subsection 4.9(a) on the last Business Day of the preceding Monthly Period.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Master Trust)
Investment of Funds in Pre-Funding Account. Funds on deposit in the Pre-Funding Account shall be invested in Cash Equivalents by the Trustee (or, at the direction of the Trustee, by the Servicer on behalf of the Trustee) at the direction of the Servicer. Funds on deposit in the Pre-Funding Account on any Distribution Date, after giving effect to any withdrawals from the Pre-Funding Account, shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date. The proceeds of any such investments shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date and, on such Transfer Date, such proceeds shall be applied deposited in the Collection Account and treated as if they were Investment Earnings for application as Available Series 19972001-2 3 Finance Charge Collections available to be applied pursuant to Subsection subsection 4.9(a) on the last Business Day of the preceding Monthly Period.
Appears in 1 contract
Samples: Supplement (Metris Master Trust)
Investment of Funds in Pre-Funding Account. Funds on deposit in the Pre-Funding Account shall be invested in Cash Equivalents by the Trustee (or, at the direction of the Trustee, by the Servicer on behalf of the Trustee) at the direction of the Servicer. Funds on deposit in the Pre-Funding Account on any Distribution Date, after giving effect to any withdrawals from the Pre-Funding Account, shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date. The proceeds of any such investments shall be invested in Cash Equivalents that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date and, on such Transfer Date, such proceeds shall be applied deposited in the Collection Account and treated as if they were Investment Proceeds for application as Available Series 19972000-2 3 Finance Charge Collections available to be applied pursuant to Subsection subsection 4.9(a) on the last Business Day of the preceding Monthly Period.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Master Trust)