Investor Default Amount. On each Determination Date, the Servicer shall calculate the Investor Default Amount for the preceding Monthly Period and such Investor Default Amount shall be recognized and subtracted from the Invested Amount in accordance with the definition thereof as of the related Transfer Date. In the event that such reduction would cause the Invested Amount to be a negative number, the Invested Amount will be reduced to zero.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (First Usa Credit Card Master Trust), Pooling and Servicing Agreement (Bank One Delaware National Association), Amended and Restated Series Supplement (Chase Manhattan Bank Usa)
Investor Default Amount. On each Determination Date, the Servicer shall calculate the Investor Default Amount for the preceding Monthly Period and such Investor Default Amount shall be recognized and subtracted from the Invested Amount in accordance with the definition thereof as of the related Transfer Date. In the event that such reduction would cause the Invested Amount to be a negative number, the Invested Amount will be reduced to zero.
Appears in 2 contracts
Samples: Series 2004 Cc Supplement to Third Amended and Restated Pooling and Servicing Agreement (Chase Issuance Trust), Supplement to Pooling and Servicing Agreement (Chase Manhattan Bank Usa)
