Common use of Reassignment and Transfer Terms Clause in Contracts

Reassignment and Transfer Terms. The Series 1998-1 Investor Certificates shall be subject to transfer to the Transferor at its option, in accordance with the terms specified in subsection 12.2(a) of the Agreement, on any Distribution Date on or after the Distribution Date on which the Investor Interest is reduced to an amount less than or equal to 5% of the Initial Investor Interest. The Series 1998-1 Investor Certificates shall be subject to mandatory transfer to the Transferor, in accordance with the terms specified in subsection 12.2(a) of the Agreement, on the Distribution Date immediately preceding the Scheduled Series 1998-1 Termination Date if the Investor Interest is reduced to an amount less than or equal to 5% of the Initial Investor Interest and the conditions specified in the proviso to Section 12.2(a) of the Agreement shall have been satisfied. The deposit required in connection with any such purchase shall be equal to (a) the Investor Interest, plus (b) accrued and unpaid interest (other than Class A Excess Interest or Class B Excess Interest, as the case may be) on the Series 1998-1 Investor Certificates through and including the day preceding the day on which such purchase occurs, plus (c) all additional amounts then due and payable to the Collateral Interest Holder under the Loan Agreement, less (d) the amount on deposit in the Finance Charge Account which will be transferred to the Distribution Account pursuant to Section 4.6 on the related Transfer Date, less (e) the amount on deposit in the Principal Account which will be transferred to the Distribution Account pursuant to the second paragraph of Subsection 4.8(a) on the related Transfer Date. The mandatory purchase requirement is in addition to any other provisions and remedies provided by the Agreement and shall not serve to relieve any party of obligations it may otherwise have or waive any remedy that is otherwise provided in the Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)

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Reassignment and Transfer Terms. The Series 19981999-1 Investor ------------------------------- Certificates shall be subject to transfer to the Transferor at its optionoption (an "Optional Transfer"), in accordance with the terms specified in subsection 12.2(a) of the Agreement, on any Distribution Date on or after the Distribution Date on which the Investor Interest is reduced to an amount less than or equal to 5% of the Initial Investor Interest; provided, however, that the Series 1999- -------- ------- 1 Investor Certificates shall not be subject to an Optional Transfer if there have been any unreimbursed reductions in the Class A Investor Interest, Class B Investor Interest or the Collateral Interest for reasons other than payment of principal to, respectively, Holders of the Class A Certificates, Holders of the Class B Certificates or the Collateral Interest Holder, as of such Distribution Date. The Series 19981999-1 Investor Certificates shall be subject to mandatory transfer to the Transferor, in accordance with the terms specified in subsection 12.2(a) of the Agreement, on the Distribution Date immediately preceding the Scheduled Series 19981999-1 Termination Date if the Investor Interest is reduced to an amount less than or equal to 5% of the Initial Investor Interest and the conditions specified in the proviso to Section 12.2(a) of the Agreement shall have been satisfied. The deposit required in connection with any such purchase shall be equal to (a) the Investor Interest, plus (b) accrued and ---- unpaid interest (other than Class A Excess Interest or Class B Excess Interest, as the case may be) on the Series 19981999-1 Investor Certificates through and including the day preceding the day on which such purchase occurs, plus (c) all ---- additional amounts then due and payable to the Collateral Interest Holder under the Loan Agreement, less (d) the amount on deposit in the Finance Charge Account ---- which will be transferred to the Distribution Account pursuant to Section 4.6 on the related Transfer Date, less (e) the amount on deposit in the Principal ---- Account which will be transferred to the Distribution Account pursuant to the second paragraph of Subsection 4.8(a) on the related Transfer Date. The mandatory purchase requirement is in addition to any other provisions and remedies provided by the Agreement and shall not serve to relieve any party of obligations it may otherwise have or waive any remedy that is otherwise provided in the Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Peoples Bank)

Reassignment and Transfer Terms. The Series 19981999-1 Investor ------------------------------- Certificates shall be subject to transfer to the Transferor at its option, in accordance with the terms specified in subsection 12.2(a) of the Agreement, on any Distribution Date on or after the Distribution Date on which the Investor Interest is reduced to an amount less than or equal to 5% of the Initial Investor Interest. The Series 19981999-1 Investor Certificates shall be subject to mandatory transfer to the Transferor, in accordance with the terms specified in subsection 12.2(a) of the Agreement, on the Distribution Date immediately preceding the Scheduled Series 19981999-1 Termination Date if the Investor Interest is reduced to an amount less than or equal to 5% of the Initial Investor Interest and the conditions specified in the proviso to Section 12.2(a) of the Agreement shall have been satisfied. The deposit required in connection with any such purchase shall be equal to (a) the Investor Interest, plus (b) accrued ---- and unpaid interest (other than Class A Excess Interest or Class B Excess Interest, as the case may be) on the Series 19981999-1 Investor Certificates through and including the day preceding the day on which such purchase occurs, plus (c) ---- all additional amounts then due and payable to the Collateral Interest Holder under the Loan Agreement, less (d) the amount on deposit in the Finance Charge ---- Account which will be transferred to the Distribution Account pursuant to Section 4.6 on the related Transfer Date, less (e) the amount on deposit in the ---- Principal Account which will be transferred to the Distribution Account pursuant to the second paragraph of Subsection 4.8(a) on the related Transfer Date. The mandatory purchase requirement is in addition to any other provisions and remedies provided by the Agreement and shall not serve to relieve any party of obligations it may otherwise have or waive any remedy that is otherwise provided in the Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Peoples Bank)

Reassignment and Transfer Terms. The Series 19981997-1 2 Investor ------------------------------- Certificates shall be subject to transfer to the Transferor at its option, in accordance with the terms specified in subsection 12.2(a) of the Agreement, on any Distribution Date on or after the Distribution Date on which the Investor Interest is reduced to an amount less than or equal to 5% [ %] of the Initial ---- Investor Interest. The Series 19981997-1 2 Investor Certificates shall be subject to mandatory transfer to the Transferor, in accordance with the terms specified in subsection 12.2(a) of the Agreement, on the Distribution Date immediately preceding the Scheduled Series 19981997-1 2 Termination Date if the Investor Interest is reduced to an amount less than or equal to 5% of the Initial Investor Interest and the conditions specified in the proviso to Section 12.2(a) of the Agreement shall have been satisfied. The deposit required in connection with any such purchase shall be equal to (a) the Investor Interest, plus (b) accrued ---- and unpaid interest (other than Class A Excess Interest or Class B Excess Interest, as the case may be) on the Series 19981997-1 2 Investor Certificates through and including the day preceding the day on which such purchase occurs, plus (c) all additional amounts then due and payable to the Collateral Interest Holder under the Loan Agreement, less (d) the amount on deposit in the Finance Charge ---- Account which will be transferred to the Distribution Account pursuant to Section 4.6 on the related Transfer Date, less (e) the amount on deposit in the ---- Principal Account which will be transferred to the Distribution Account pursuant to the second paragraph of Subsection 4.8(a) on the related Transfer Date. The mandatory purchase requirement is in addition to any other provisions and remedies provided by the Agreement and shall not serve to relieve any party of obligations it may otherwise have or waive any remedy that is otherwise provided in the Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)

Reassignment and Transfer Terms. The Series 1998-1 ------------------------------- Investor Certificates shall be subject to transfer to the Transferor at its option, in accordance with the terms specified in subsection 12.2(a) of the Agreement, on any Distribution Date on or after the Distribution Date on which the Investor Interest is reduced to an amount less than or equal to 5% of the Initial Investor Interest. The Series 1998-1 Investor Certificates shall be subject to mandatory transfer to the Transferor, in accordance with the terms specified in subsection 12.2(a) of the Agreement, on the Distribution Date immediately preceding the Scheduled Series 1998-1 Termination Date if the Investor Interest is reduced to an amount less than or equal to 5% of the Initial Investor Interest and the conditions specified in the proviso to Section 12.2(a) of the Agreement shall have been satisfied. The deposit required in connection with any such purchase shall be equal to (a) the Investor Interest, plus (b) accrued and unpaid interest (other than Class A Excess Interest or ---- Class B Excess Interest, as the case may be) on the Series 1998-1 Investor Certificates through and including the day preceding the day on which such purchase occurs, plus (c) all additional amounts then due and payable to the Collateral Interest Holder under the Loan Agreement, less (d) the amount on ---- deposit in the Finance Charge Account which will be transferred to the Distribution Account pursuant to Section 4.6 on the related Transfer Date, less ---- (e) the amount on deposit in the Principal Account which will be transferred to the Distribution Account pursuant to the second paragraph of Subsection 4.8(a) on the related Transfer Date. The mandatory purchase requirement is in addition to any other provisions and remedies provided by the Agreement and shall not serve to relieve any party of obligations it may otherwise have or waive any remedy that is otherwise provided in the Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)

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Reassignment and Transfer Terms. The Series 19981997-1 Investor ------------------------------- Certificates shall be subject to transfer to the Transferor at its option, in accordance with the terms specified in subsection 12.2(a) of the Agreement, on any Distribution Date on or after the Distribution Date on which the Investor Interest is reduced to an amount less than or equal to 5% of the Initial Investor Interest. The Series 19981997-1 Investor Certificates shall be subject to mandatory transfer to the Transferor, in accordance with the terms specified in subsection 12.2(a) of the Agreement, on the Distribution Date immediately preceding the Scheduled Series 19981997-1 Termination Date if the Investor Interest is reduced to an amount less than or equal to 5% of the Initial Investor Interest and the conditions specified in the proviso to Section 12.2(a) of the Agreement shall have been satisfied. The deposit required in connection with any such purchase shall be equal to (a) the Investor Interest, plus (b) accrued ---- and unpaid interest (other than Class A Excess Interest or Class B Excess Interest, as the case may be) on the Series 19981997-1 Investor Certificates through and including the day preceding the day on which such purchase occurs, plus (c) all additional amounts then due and payable to the Collateral Interest Holder under the Loan Agreement, less (d) the amount on deposit in the Finance Charge ---- Account which will be transferred to the Distribution Account pursuant to Section 4.6 on the related Transfer Date, less (e) the amount on deposit in the ---- Principal Account which will be transferred to the Distribution Account pursuant to the second paragraph of Subsection 4.8(a) on the related Transfer Date. The mandatory purchase requirement is in addition to any other provisions and remedies provided by the Agreement and shall not serve to relieve any party of obligations it may otherwise have or waive any remedy that is otherwise provided in the Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)

Reassignment and Transfer Terms. The Series 19981997-1 2 Investor Certificates shall be subject to transfer to the Transferor at its option, in accordance with the terms specified in subsection 12.2(a) of the Agreement, on any Distribution Date on or after the Distribution Date on which the Investor Interest is reduced to an amount less than or equal to 5% of the Initial Investor Interest. The Series 19981997-1 2 Investor Certificates shall be subject to mandatory transfer to the Transferor, in accordance with the terms specified in subsection 12.2(a) of the Agreement, on the Distribution Date immediately preceding the Scheduled Series 19981997-1 2 Termination Date if the Investor Interest is reduced to an amount less than or equal to 5% of the Initial Investor Interest and the conditions specified in the proviso to Section 12.2(a) of the Agreement shall have been satisfied. The deposit required in connection with any such purchase shall be equal to (a) the Investor Interest, plus (b) accrued and unpaid interest (other than Class A Excess Interest or Class B Excess Interest, as the case may be) on the Series 19981997-1 2 Investor Certificates through and including the day preceding the day on which such purchase occurs, plus (c) all additional amounts then due and payable to the Collateral Interest Holder under the Loan Agreement, less (d) the amount on deposit in the Finance Charge Account which will be transferred to the Distribution Account pursuant to Section 4.6 on the related Transfer Date, less (e) the amount on deposit in the Principal Account which will be transferred to the Distribution Account pursuant to the second paragraph of Subsection 4.8(a) on the related Transfer Date. The mandatory purchase requirement is in addition to any other provisions and remedies provided by the Agreement and shall not serve to relieve any party of obligations it may otherwise have or waive any remedy that is otherwise provided in the Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)

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