Common use of Payments to the Transferor Clause in Contracts

Payments to the Transferor. The Servicer shall, on Deposit Dates, withdraw from the Collection Account and pay to the holders of Trust Beneficial Interests or Certificates the following amounts: (i) an amount equal to the Transferor Percentage of Collections of Finance Charge and Administrative Receivables to the extent such amount is deposited in the Collection Account; and (ii) an amount equal to the Transferor Percentage of Collections of Principal Receivables deposited in the Collection Account, if the Transferor Interest (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) exceeds zero and otherwise shall be deposited in the Excess Funding Account. The withdrawals to be made from the Collection Account pursuant to this subsection 4.01(b) do not apply to deposits into the Collection Account that do not represent Collections, including payment of the purchase price for the Receivables or the Notes pursuant to, respectively, Section 2.06 or Section 7.01 of the Transfer and Servicing Agreement and payment of the purchase price for the Series 2002-A Notes pursuant to Section 7.01 of this Indenture Supplement.

Appears in 1 contract

Samples: Indenture Supplement (Advanta Business Recievables Corp)

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Payments to the Transferor. The Servicer shall, on Deposit Dates, withdraw from the Collection Account and pay to the holders of Trust Beneficial Interests or Certificates the following amounts: (i) an amount equal to the Transferor Percentage of Collections of Finance Charge and Administrative Receivables to the extent such amount is deposited in the Collection Account; and (ii) an amount equal to the Transferor Percentage of Collections of Principal Receivables deposited in the Collection Account, if the Transferor Interest (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) exceeds zero and otherwise shall be deposited in the Excess Funding Account. The withdrawals to be made from the Collection Account pursuant to this subsection 4.01(b) do not apply to deposits into the Collection Account that do not represent Collections, including payment of the purchase price for the Receivables or the Notes pursuant to, respectively, Section 2.06 or Section 7.01 of the Transfer and Servicing Agreement and payment of the purchase price for the Series 20022003-A Notes pursuant to Section 7.01 of this Indenture Supplement.

Appears in 1 contract

Samples: Indenture Supplement (Advanta Business Recievables Corp)

Payments to the Transferor. The Servicer shall, on Deposit Dates, withdraw from the Collection Account and pay to the holders of Trust Beneficial Interests or Certificates the following amounts: (i) an amount equal to the Transferor Percentage of Collections of Finance Charge and Administrative Receivables to the extent such amount is deposited in the Collection Account; and (ii) an amount equal to the Transferor Percentage of Collections of Principal Receivables deposited in the Collection Account, if the Transferor Interest (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) exceeds zero and otherwise shall be deposited in the Excess Funding Account. The withdrawals to be made from the Collection Account pursuant to this subsection 4.01(b) do not apply to deposits into the Collection Account that do not represent Collections, including payment of the purchase price for the Receivables or the Notes pursuant to, respectively, Section 2.06 or Section 7.01 of the Transfer and Servicing Agreement and payment of the purchase price for the Series 20022003-A D Notes pursuant to Section 7.01 of this Indenture Supplement.

Appears in 1 contract

Samples: Indenture Supplement (Advanta Business Receivables Corp)

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Payments to the Transferor. The Servicer shall, on Deposit Dates, withdraw from the Collection Account and pay to the holders of Trust Beneficial Interests or Certificates the following amounts: (i) an amount equal to the Transferor Percentage of Collections of Finance Charge and Administrative Receivables to the extent such amount is deposited in the Collection Account; and (ii) an amount equal to the Transferor Percentage of Collections of Principal Receivables deposited in the Collection Account, if the Transferor Interest (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) exceeds zero and otherwise shall be deposited in the Excess Funding Account. The withdrawals to be made from the Collection Account pursuant to this subsection 4.01(b) do not apply to deposits into the Collection Account that do not represent Collections, including payment of the purchase price for the Receivables or the Notes pursuant to, respectively, Section 2.06 or Section 7.01 of the Transfer and Servicing Agreement and payment of the purchase price for the Series 20022003-A B Notes pursuant to Section 7.01 of this Indenture Supplement.

Appears in 1 contract

Samples: Indenture Supplement (Advanta Business Recievables Corp)

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