Common use of Reallocated Class B Principal Collections Clause in Contracts

Reallocated Class B Principal Collections. (a) On each Transfer Date, following application of Reallocated Class C Principal Collections in accordance with Clause 5.16, the Trust Cash Manager will advise the Receivables Trustee as to amounts of Principal Collections allocated pursuant to Clauses 5.05(a)(iii), 5.05(b)(iii), 5.05(c)(iii) and 5.05(d)(iii) notionally by reference to the Series 02-1 Investor Beneficiary Interest in respect of Class B to apply as Reallocated Class B Principal Collections with respect to such Transfer Date as follows: (i) an amount equal to the excess, if any, of (i) the Class A Required Amount, if any, with respect to such Transfer Date over (ii) the amount of Excess Spread and Reallocated Class C Principal Collections with respect to the related Monthly Period shall be credited to the Finance Charge Collections Ledger to be applied pursuant to Clauses 5.10(a)(i) to (v) in that order of priority; (b) On each Transfer Date the notional amount calculated as the Class B Investor Interest shall be reduced by an amount equal to the excess of the amount of Reallocated Class B Principal Collections for such Transfer Date over the Class C Investor Interest (after giving effect to any Class C Investor Charge-Offs for such Transfer Date). (c) In the event that the calculation of the amount of Reallocated Class B Principal Collections to be re-applied would cause the Class B Investor Interest (after giving effect to any Class B Investor Charge-Offs and the reduction in the Class C Investor Interest in respect of Reallocated Class B Principal Collections for such Transfer Date) to be a negative number on any Transfer Date, the amount of Principal Collections to be re-applied on such Transfer Date shall be an aggregate amount not to exceed the amount which would cause the Class B Investor Interest (after giving effect to any Class B Investor Charge-Offs for such Transfer Date) to be reduced to zero.

Reallocated Class B Principal Collections. (a) On each Transfer Date, following application of Reallocated Class C Principal Collections in accordance with Clause 5.16, the Trust Cash Manager will advise the Receivables Trustee as to amounts of Principal Collections allocated pursuant to Clauses 5.05(a)(iii), 5.05(b)(iii), 5.05(c)(iii) and 5.05(d)(iii) notionally by reference to the Series 0204-1 2 Investor Beneficiary Interest in respect of for calculation purposes treated as referable to Class B to apply as Reallocated Class B Principal Collections with respect to such Transfer Date as follows: (i) an amount equal to the excess, if any, of (i) the Class A Required Amount, if any, with respect to such Transfer Date over (ii) the amount of Excess Spread and Reallocated Class C Principal Collections with respect to the related Monthly Period shall be credited to the Finance Charge Collections Ledger to be applied pursuant to Clauses 5.10(a)(i) to (v) in that order of priority; (b) On each Transfer Date the notional amount calculated as the Class B Investor Interest shall be reduced by an amount equal to the excess of the amount of Reallocated Class B Principal Collections for such Transfer Date over the Class C Investor Interest (after giving effect to any Class C Investor Charge-Offs for such Transfer Date). (c) In the event that the calculation of the amount of Reallocated Class B Principal Collections to be re-applied would cause the Class B Investor Interest (after giving effect to any Class B Investor Charge-Offs and the reduction in the Class C Investor Interest in respect of Reallocated Class B Principal Collections for such Transfer Date) to be a negative number on any Transfer Date, the amount of Principal Collections to be re-applied on such Transfer Date shall be an aggregate amount not to exceed the amount which would cause the Class B Investor Interest (after giving effect to any Class B Investor Charge-Offs for such Transfer Date) to be reduced to zero.

Reallocated Class B Principal Collections. (a) On each Transfer Distribution Date, following application of the Reallocated Class C Principal Collections in accordance with Clause 5.165.15, the Trust Cash Manager Servicer will advise the Receivables Trustee as to amounts what portion of the Required Retained Principal Collections allocated pursuant to Clauses 5.05(a)(iii), 5.05(b)(iii), 5.05(c)(iii) and 5.05(d)(iii) notionally by reference to retained for the Series 02-1 Investor Beneficiary Interest in respect of Class B to apply previous Monthly Period shall be utilised as Reallocated Class B Principal Collections with respect to such Transfer Date Distribution Date. The amounts to be so utilised shall be calculated as follows: (i) an amount equal to the excess, if any, of (i) the Class A Required Amount, if any, with respect to such Transfer Distribution Date over (ii) the amount of Excess Spread Available Funds and Reallocated Class C Principal Collections with respect to the related Monthly Period Period, and shall be transferred from the undivided Principal Collections Ledger and credited to the Series 2007-1 Finance Charge Collections Ledger to be applied pursuant to Clauses 5.10(a)(iClause 5.10(a) to (vd) in that order of priority;. (b) On Subject to (c) below, on each Transfer Distribution Date the notional amount calculated as the Class B Investor Interest shall be reduced by an amount equal to the excess of the amount of Reallocated Class B Principal Collections for such Transfer Distribution Date over the Class C Investor Interest (after giving effect to any Class C Investor Charge-Offs for such Transfer Distribution Date). (c) In the event that the calculation of the amount of Reallocated Class B Principal Collections to be re-applied utilised would cause the Class B Investor Interest (after giving effect to any Class B Investor Charge-Offs and the reduction in the Class C Investor Interest in respect of Reallocated Class B Principal Collections for such Transfer Distribution Date) to be a negative number on any Transfer Distribution Date, the amount of Required Retained Principal Collections to be re-applied utilised on such Transfer Distribution Date shall be an aggregate amount not to exceed the amount which would cause the Class B Investor Interest (after giving effect to any Class B Investor Charge-Offs for such Transfer Distribution Date) to be reduced to zero. (d) Any Required Retained Principal Collections not utilised on a Distribution Date will be applied as Available Retained Principal Collections in accordance with Clause 5.11 on such Distribution Date. (e) Following any reductions pursuant to Clauses 5.15(b), 5.15(c), 5.16(b) and 5.16(c) the Class C Investor Interest and/or the Class B Investor Interest may be reinstated in an amount equal to the aggregate of (i) payments of Additional Consideration made by the Series 2007-1 Investor Beneficiary to the Receivables Trustee as mentioned in Clauses 5.10(j)(i) and 5.10(m)(i), such amount being ‘‘Refunded Utilised Principal Collections’’ and (ii) amounts of Principal Loss Make-Up (charge-offs) deemed to reinstate the Class C Investor Interest and/or the Class B Investor Interest as mentioned in Clauses 5.10(j)(ii) and 5.10(m)(ii). Class B will be reinstated before Class C.

Reallocated Class B Principal Collections. (a) On each Transfer Date, following application of Reallocated Class C Principal Collections in accordance with Clause 5.16, the Trust Cash Manager will advise the Receivables Trustee as to amounts of Principal Collections allocated pursuant to Clauses 5.05(a)(iii), 5.05(b)(iii), 5.05(c)(iii) and 5.05(d)(iii) notionally by reference to the Series 0203-1 2 Investor Beneficiary Interest in respect of for calculation purposes treated as referable to Class B to apply as Reallocated Class B Principal Collections with respect to such Transfer Date as follows: (i) an amount equal to the excess, if any, of (i) the Class A Required Amount, if any, with respect to such Transfer Date over (ii) the amount of Excess Spread and Reallocated Class C Principal Collections with respect to the related Monthly Period shall be credited to the Finance Charge Collections Ledger to be applied pursuant to Clauses 5.10(a)(i) to (v) in that order of priority; (b) On each Transfer Date the notional amount calculated as the Class B Investor Interest shall be reduced by an amount equal to the excess of the amount of Reallocated Class B Principal Collections for such Transfer Date over the Class C Investor Interest (after giving effect to any Class C Investor Charge-Offs for such Transfer Date). (c) In the event that the calculation of the amount of Reallocated Class B Principal Collections to be re-applied would cause the Class B Investor Interest (after giving effect to any Class B Investor Charge-Offs and the reduction in the Class C Investor Interest in respect of Reallocated Class B Principal Collections for such Transfer Date) to be a negative number on any Transfer Date, the amount of Principal Collections to be re-applied on such Transfer Date shall be an aggregate amount not to exceed the amount which would cause the Class B Investor Interest (after giving effect to any Class B Investor Charge-Offs for such Transfer Date) to be reduced to zero.