Payments to the Investor Certificateholders. On each Distribution Date, after giving effect to deposits and allocations made pursuant to Section 8, the Servicer shall direct the Trustee to make the following additional deposits and withdrawals and to cause the Paying Agent to pay funds from the applicable Investor Account to or for the benefit of each Class of Investor Certificateholders as set forth below (1) Deposits of the Class A Modified Required Amount into the Series Interest Funding Account. An amount equal to the lesser of (A) the Class A Modified Required Amount and (B) the amount deposited in respect of the Class A Modified Required Amount into the Series Distribution Account on such Distribution Date pursuant to Section 8 shall be withdrawn from the Series Distribution Account and deposited into the Series Interest Funding Account. The positive difference, if any, between the Class A Modified Required Amount and the amount of such deposit shall be the "Class A Monthly Deficiency Amount." (2) Deposits of the Class B Modified Required Amount into the Series Interest Funding Account. An amount equal to the lesser of (A) the Class B Modified Required Amount and (B) the amount deposited in respect of the Class B Modified Required Amount into the Series Distribution Account on such Distribution Date pursuant to Section 8 shall be withdrawn from the Series Distribution Account and deposited into the Series Interest Funding Account. The positive difference, if any, between the Class B Modified Required Amount and the amount of such deposit shall be the "Class B Monthly Deficiency Amount."
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Samples: Pooling and Servicing Agreement (Sears Credit Account Master Trust Ii), Pooling and Servicing Agreement (SRFG Inc), Pooling and Servicing Agreement (Sears Credit Account Master Trust Ii)
Payments to the Investor Certificateholders. On each Distribution Date, after giving effect to deposits and allocations made pursuant to Section 8, the Servicer shall direct the Trustee to make the following additional deposits and withdrawals and to cause the Paying Agent to pay funds from the applicable Investor Account to or for the benefit of each Class of Investor Certificateholders as set forth below
(1) Deposits of the Class A Modified Required Amount into the Series Interest Funding Account. An amount equal to the lesser of
(A) the Class A Modified Required Amount and
(B) the amount deposited in respect of the Class A Modified Required Amount into the Series Distribution Account on such Distribution Date pursuant to Section 8 shall be withdrawn from the Series Distribution Account and deposited into the Series Interest Funding Account. The positive difference, if any, between the Class A Modified Required Amount and the amount of such deposit shall be the "Class A Monthly Deficiency Amount."
(2) Deposits of the Class B Modified Required Amount into the Series Interest Funding Account. An amount equal to the lesser of
(A) the Class B Modified Required Amount and
(B) the amount deposited in respect of the Class B Modified Required Amount into the Series Distribution Account on such Distribution Date pursuant to Section 8 shall be withdrawn from the Series Distribution Account and deposited into the Series Interest Funding Account. The positive difference, if any, between the Class B Modified Required Amount and the amount of such deposit shall be the "Class B Monthly Deficiency Amount."
(3) Deposits of the Class C Modified Required Amount into the Series Interest Funding Account. An amount equal to the lesser of (A) the Class C Modified Required Amount and
Appears in 1 contract
Samples: Master Trust Certificates (Sears Credit Account Master Trust Ii)