Common use of Removal of Accounts Clause in Contracts

Removal of Accounts. (a) Subject to the conditions set forth below, the Transferor may, but shall not be obligated to, designate Receivables from Accounts for deletion and removal ("Removed Accounts") from the Trust; provided, however, that the Transferor shall not make more than one such designation in any one Monthly Period. On or before the fifth Business Day (the "Removal Notice Date") prior to the date on which the designated Removed Accounts will be reassigned by the Trustee to the Transferor (the "Removal Date"), the Transferor shall give the Trustee and the Servicer written notice that the Receivables from such Removed Accounts are to be reassigned to the Transferor.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (First Bankcard Master Credit Card Trust), Pooling and Servicing Agreement (First Bankcard Master Credit Card Trust)

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Removal of Accounts. (a) Subject to the conditions set forth below, the Transferor may, but shall not be obligated to, designate Receivables from Accounts for deletion and removal ("Removed Accounts") from the Trust; provided, however, that the ---------------- -------- ------- Transferor shall not make more than one such designation in any one Monthly Period. On or before the fifth Business Day (the "Removal Notice Date") prior to the ------------------- date on which the designated Removed Accounts will be reassigned by the Trustee to the Transferor (the "Removal Date"), the Transferor shall give the Trustee ------------ and the Servicer written notice that the Receivables from such Removed Accounts are to be reassigned to the Transferor.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Chase Manhattan Bank Usa), Pooling and Servicing Agreement (Chase Manhattan Bank Usa)

Removal of Accounts. (a) Subject to On and after the conditions set forth belowCertificate Trust Termination Date, the Transferor may, but shall not be obligated to, designate Receivables from time to time Accounts for deletion and removal ("Removed Accounts") from the TrustAccounts; provided, however, that the Transferor shall not make more than one such designation in any one Monthly Collection Period; and, provided further, that the Transferor shall select the Removed Accounts on a random basis. On or before the fifth Business Day (the "Removal Notice Date") prior to the date on which the designated Removed Accounts will be reassigned by the Trustee Issuer to the Transferor (the "Removal Date"), the Transferor shall give the Indenture Trustee and the Servicer written notice that the Receivables from in such Removed Accounts are to be reassigned to the Transferor.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Fnanb Credit Card Master Trust)

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Removal of Accounts. (a) Subject to the conditions set forth below, the Transferor may, but shall not be obligated to, designate Receivables from time to time Accounts for deletion and removal ("Removed Accounts") from the TrustAccounts; provided, however, that the Transferor shall not make more than one such designation in any one Monthly Collection Period; and, provided further, that the Transferor shall select the Removed Accounts on a random basis. On or before the fifth Business Day (the "Removal Notice Date") prior to the date on which the designated Removed Accounts will be reassigned by the Trustee to the Transferor (the "Removal Date"), the Transferor shall give the Trustee and the Servicer written notice that the Receivables from in such Removed Accounts are to be reassigned to the Transferor.

Appears in 1 contract

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

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