Common use of Payments of Principal; Payments with Respect to Derivative Agreements for Principal Clause in Contracts

Payments of Principal; Payments with Respect to Derivative Agreements for Principal. If, on and after the earliest to occur of (i) the date on which any Tranche of Class D Notes are accelerated pursuant to Section 7.02 of the Indenture following an Event of Default with respect to such Tranche, (ii) any date on or after the Transfer Date immediately preceding the Expected Principal Payment Date on which the amount on deposit in the Principal Funding sub-Account for any Tranche of Class D Notes plus the aggregate amount on deposit in the Class D Reserve sub-Account for such Tranche of the Class D Notes equals or exceeds the Outstanding Dollar Principal Amount of such Class D Notes and (iii) the Legal Maturity Date for any Tranche of Class D Notes, the amount on deposit in the Principal Funding sub-Account for any Tranche of Class D Notes is insufficient to pay in full the amounts for which withdrawals are required under Section 4.14, an amount equal to that deficiency will be withdrawn from that Class D Reserve sub-Account for such Tranche and deposited into that Principal Funding sub-Account on the Transfer Date before the date of the applicable withdrawal required pursuant to Section 4.14.

Appears in 2 contracts

Samples: Wfcardseries Indenture Supplement (WF Card Funding LLC), Indenture Supplement (WF Card Issuance Trust)

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Payments of Principal; Payments with Respect to Derivative Agreements for Principal. If, on and after the earliest to occur of (i) the date on which any Tranche tranche of Class D C Notes are accelerated pursuant to Section 7.02 702 of the Indenture following an Event of Default with respect to such Tranchetranche, (ii) any date on or after the Transfer Date immediately preceding the Expected Principal Payment Date on which the amount on deposit in the Principal Funding sub-Account for any Tranche tranche of Class D C Notes plus the aggregate amount on deposit in the Class D C Reserve sub-Account for such Tranche tranche of the Class D C Notes equals or exceeds the Outstanding Dollar Principal Amount of such Class D C Notes and (iii) the Legal Maturity Date for any Tranche tranche of Class D C Notes, the amount on deposit in the Principal Funding sub-Account for any Tranche tranche of Class D C Notes is insufficient to pay in full the amounts for which withdrawals are required under Section 4.143.14, an amount equal to that deficiency will be withdrawn from that Class D C Reserve sub-sub- Account for such Tranche tranche and deposited into that Principal Funding sub-sub- Account on the Transfer Date before the date of the applicable withdrawal required pursuant to Section 4.14.3.14. (c)

Appears in 1 contract

Samples: Indenture Supplement (Mbna Credit Card Master Note Trust)

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Payments of Principal; Payments with Respect to Derivative Agreements for Principal. If, on and after the earliest to occur of (i) the date on which any Tranche tranche of Class D C Notes are accelerated pursuant to Section 7.02 702 of the Indenture following an Event of Default with respect to such Tranchetranche, (ii) any date on or after the Transfer Date immediately preceding the Expected Principal Payment Date on which the amount on deposit in the Principal Funding sub-Account sub‑Account for any Tranche tranche of Class D C Notes plus the aggregate amount on deposit in the Class D C Reserve sub-Account sub‑Account for such Tranche tranche of the Class D C Notes equals or exceeds the Outstanding Dollar Principal Amount of such Class D C Notes and (iii) the Legal Maturity Date for any Tranche tranche of Class D C Notes, the amount on deposit in the Principal Funding sub-Account sub‑Account for any Tranche tranche of Class D C Notes is insufficient to pay in full the amounts for which withdrawals are required under Section 4.143.14, an amount equal to that deficiency will be withdrawn from that Class D C Reserve sub-Account sub‑Account for such Tranche tranche and deposited into that Principal Funding sub-Account sub‑Account on the Transfer Date before the date of the applicable withdrawal required pursuant to Section 4.143.14.

Appears in 1 contract

Samples: Indenture Supplement (BA Master Credit Card Trust II)

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