Common use of Reinvestment in Collateral Clause in Contracts

Reinvestment in Collateral. (a) On each First Note Transfer Date, the Asset Pool One Reinvestment Amount for the immediately preceding Monthly Period shall be applied in the following order of priority: (i) if the Collateral includes one or more Asset Pool One Collateral Certificates, pursuant to the Transfer and Servicing Agreement, the Servicer, on behalf of the Issuer, shall specify the amount of the Asset Pool One Reinvestment Amount to be reinvested in each Asset Pool One Collateral Certificate previously designated as part of the Collateral for Asset Pool One which amount shall be determined by the Servicer, on behalf of the Issuer, in its own discretion, and no such reinvestment shall be required; provided, however, that, subject to the restrictions specified in subsection 2.3(c), the Issuer shall be required to increase the Invested Amount of an existing Asset Pool One Collateral Certificate if Collateral is required to be added pursuant to subsection 2.4(a) and the applicable Transferor elects to increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates as specified in such Section (so long as the Transfer and Servicing Agreement and the applicable Series Supplement each allows such reinvestment and the transferor or seller for the related Master Trust agrees to such reinvestment); and (ii) the remainder of such amounts shall be paid to the holders of the Asset Pool One Transferor Amount; provided, however, that if the Asset Pool One Transferor Amount for the prior Monthly Period did not equal or exceed the Asset Pool One Required Transferor Amount for the prior Monthly Period or the Asset Pool One Pool Balance for such prior Monthly Period did not equal or exceed the Asset Pool One Minimum Pool Balance for such prior Monthly Period (after application of the Asset Pool One Reinvestment Amount, if any, pursuant to this Section), such amount shall be deposited in the Excess Funding Account for Asset Pool One. (b) Each Asset Pool One Receivable shall be transferred to the Issuer pursuant to the Transfer and Servicing Agreement and designated for inclusion in Asset Pool One and pledged to secure the Asset Pool One Notes on the day that such Asset Pool One Receivable arises pursuant to this Asset Pool One Supplement.

Reinvestment in Collateral. (a) On each First Note Transfer Date, the Asset Pool One Reinvestment Amount for the immediately preceding Monthly Period for each Asset Pool, as specified in the applicable Asset Pool Supplement, shall be applied for each such Asset Pool in the following order of priority: (i) if the Collateral designated for inclusion in such Asset Pool includes one or more Asset Pool One Collateral Certificates, pursuant to the Transfer and Servicing Agreement, the Servicer, on behalf of the Issuer, shall specify the amount of the Reinvestment Amount for such Asset Pool One Reinvestment Amount to be reinvested applied in order to increase the Invested Amount of each Asset Pool One such Collateral Certificate previously designated as part of the Collateral for of such Asset Pool One Pool, which amount shall be determined by the Servicer, on behalf of the Issuer, in its own discretion, and no such reinvestment shall be required; provided, however, that, subject to the restrictions specified in subsection 2.3(c2.11(c), the Issuer Servicer, on behalf of the Issuer, shall be required to increase the Invested Amount of an existing Asset Pool One Collateral Certificate if Collateral is required to be added pursuant to subsection 2.4(a2.12(a) and the applicable Transferor elects to increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates as specified in such Section subsection (so long as the Transfer and Servicing Agreement and the applicable Series Supplement each allows such reinvestment and the transferor or seller for the related Master Trust agrees to such reinvestment); and (ii) the remainder of such amounts shall be paid to the holders holder of the Transferor Certificate for such Asset Pool One Transferor AmountPool; provided, however, that if the Transferor Amount for such Asset Pool One Transferor Amount for the prior Monthly Period did not equal or exceed the Asset Pool One Required Transferor Amount for the such Asset Pool for such prior Monthly Period or the Asset Pool One Pool Balance for such Asset Pool for the prior Monthly Period did not equal or exceed the Asset Pool One Minimum Pool Balance for such Asset Pool for such prior Monthly Period (after application of the Asset Pool One Reinvestment Amount, if any, pursuant to this Section), such amount shall be deposited by the Servicer in the Excess Funding Account for such Asset Pool OnePool. (b) Each Receivable designated for inclusion in an Asset Pool One Receivable shall be transferred to the Issuer Trust pursuant to this Agreement and, pursuant to the Transfer and Servicing Agreement and designated for inclusion in Indenture, as supplemented by the applicable Asset Pool One and Supplement, pledged to secure the Notes of such Asset Pool One Notes on the day that such Asset Pool One Receivable arises pursuant to this Asset Pool One Supplementarises.

Reinvestment in Collateral. (a) On each First Note Transfer Date, the Asset Pool One Reinvestment Amount for the immediately preceding Monthly Period for each Asset Pool, as specified in the applicable Asset Pool Supplement, shall be applied for each such Asset Pool in the following order of priority: (i) if the Collateral designated for inclusion in such Asset Pool includes one or more Asset Pool One Collateral Certificates, pursuant to the Transfer and Servicing Agreement, the Servicer, on behalf of the Issuer, shall specify the amount of the Reinvestment Amount for such Asset Pool One Reinvestment Amount to be reinvested applied in order to increase the Invested Amount of each Asset Pool One such Collateral Certificate previously designated as part of the Collateral for of such Asset Pool One Pool, which amount shall be determined by the Servicer, on behalf of the Issuer, in its own discretion, and no such reinvestment shall be required; providedPROVIDED, howeverHOWEVER, that, subject to the restrictions specified in subsection 2.3(c2.11(c), the Issuer Servicer, on behalf of the Issuer, shall be required to increase the Invested Amount of an existing Asset Pool One Collateral Certificate if Collateral is required to be added pursuant to subsection 2.4(a2.12(a) and the applicable Transferor elects to increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates as specified in such Section subsection (so long as the Transfer and Servicing Agreement and the applicable Series Supplement each allows such reinvestment and the transferor or seller for the related Master Trust agrees to such reinvestment); and (ii) the remainder of such amounts shall be paid to the holders holder of the Transferor Certificate for such Asset Pool One Transferor AmountPool; providedPROVIDED, howeverHOWEVER, that if the Transferor Amount for such Asset Pool One Transferor Amount for the prior Monthly Period did not equal or exceed the Asset Pool One Required Transferor Amount for the such Asset Pool for such prior Monthly Period or the Asset Pool One Pool Balance for such Asset Pool for the prior Monthly Period did not equal or exceed the Asset Pool One Minimum Pool Balance for such Asset Pool for such prior Monthly Period (after application of the Asset Pool One Reinvestment Amount, if any, pursuant to this Section), such amount shall be deposited by the Servicer in the Excess Funding Account for such Asset Pool OnePool. (b) Each Receivable designated for inclusion in an Asset Pool One Receivable shall be transferred to the Issuer Trust pursuant to this Agreement and, pursuant to the Transfer and Servicing Agreement and designated for inclusion in Indenture, as supplemented by the applicable Asset Pool One and Supplement, pledged to secure the Notes of such Asset Pool One Notes on the day that such Asset Pool One Receivable arises pursuant to this Asset Pool One Supplementarises.