Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 1998-3 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (iv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-3 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied to reimburse Class A Charge-Offs, such amount during the Revolving Period, to be treated as Shared Principal Collections, and during the Amortization Period, to be treated as Available Series 1998-3 Principal Collections.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Metris Receivables Inc), Series Supplement (Metris Master Trust)
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 1998-3 2 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (iv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-3 2 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied to reimburse Class A Charge-Offs, such amount during the Revolving Period, to be treated as Shared Principal Collections, and during the Amortization Period, to be treated as Available Series 1998-3 2 Principal Collections.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Metris Receivables Inc), Series Supplement (Metris Master Trust)
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 19982001-3 2 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (ivvi) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982001-3 2 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied to reimburse Class A Charge-Offs, such amount during the Revolving Period, to be treated as Shared Principal Collections, and during the Amortization Period, to be treated as Available Series 19982001-3 2 Principal Collections.
Appears in 1 contract
Samples: Supplement (Metris Master Trust)
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 19982004-3 2 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (ivvii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982004-3 2 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied to reimburse Class A Charge-Offs, such amount during the Revolving Period, to be treated as Shared Principal Collections, and during the Amortization Period, to be treated as Available Series 19982004-3 2 Principal Collections.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Receivables Inc)
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 19982002-3 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (iv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982002-3 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied and shall apply such amounts so withdrawn to reimburse Class A Charge-Offs, such amount amount, (i) during the Revolving Period, to be treated as Shared Principal Collections, and (ii) during the Amortization Period, to be treated as Available Series 19982002-3 Principal Collections.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Master Trust)
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 19982004-3 1 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (iv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982004-3 1 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied and shall apply such amounts so withdrawn to reimburse Class A Charge-Offs, such amount amount, (i) during the Revolving Period, to be treated as Shared Principal Collections, and (ii) during the Amortization Period, to be treated as Available Series 19982004-3 1 Principal Collections.
Appears in 1 contract
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 19982001-3 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (ivvi) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982001-3 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied to reimburse Class A Charge-Offs, such amount during the Revolving Period, to be treated as Shared Principal Collections, and during the Amortization Period, to be treated as Available Series 19982001-3 Principal Collections.
Appears in 1 contract
Samples: Supplement (Metris Master Trust)
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 19982002-3 4 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (iv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982002-3 4 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied and shall apply such amounts so withdrawn to reimburse Class A Charge-Offs, such amount amount, (i) during the Revolving Period, to be treated as Shared Principal Collections, and (ii) during the Amortization Period, to be treated as Available Series 19982002-3 4 Principal Collections.
Appears in 1 contract
Samples: Supplement (Metris Receivables Inc)
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 19982001-3 4 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (ivvi) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982001-3 4 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied to reimburse Class A Charge-Offs, such amount during the Revolving Period, to be treated as Shared Principal Collections, and during the Amortization Period, to be treated as Available Series 19982001-3 4 Principal Collections.
Appears in 1 contract
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 19981999-3 1 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (iv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19981999-3 1 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied to reimburse Class A Charge-Offs, such amount during the Revolving Period, to be treated as Shared Principal Collections, and during the Amortization Period, to be treated as Available Series 19981999-3 1 Principal Collections.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Receivables Inc)
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 19982000-3 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (ivvi) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982000-3 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied to reimburse Class A Charge-Offs, such amount during the Revolving Period, to be treated as Shared Principal Collections, and during the Amortization Period, to be treated as Available Series 19982000-3 Principal Collections.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Master Trust)
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 19982001-3 1 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (ivvi) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982001-3 1 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied to reimburse Class A Charge-Offs, such amount during the Revolving Period, to be treated as Shared Principal Collections, and during the Amortization Period, to be treated as Available Series 19982001-3 1 Principal Collections.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Master Trust)
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 19982000-3 2 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (ivvi) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982000-3 2 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied to reimburse Class A Charge-Offs, such amount during the Revolving Period, to be treated as Shared Principal Collections, and during the Amortization Period, to be treated as Available Series 19982000-3 2 Principal Collections.
Appears in 1 contract
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 19982000-3 1 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (ivvi) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982000-3 1 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied to reimburse Class A Charge-Offs, such amount during the Revolving Period, to be treated as Shared Principal Collections, and during the Amortization Period, to be treated as Available Series 19982000-3 1 Principal Collections.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Master Trust)
Reimbursement of Class A Charge-Offs. On each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, to the extent of any Available Series 19981999-3 2 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (iv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19981999-3 2 Finance Charge Collections and (y) the unreimbursed Class A Charge-Offs, if any, will be applied to reimburse Class A Charge-Offs, such amount during the Revolving Period, to be treated as Shared Principal Collections, and during the Amortization Period, to be treated as Available Series 19981999-3 2 Principal Collections.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Receivables Inc)