Common use of Required Additional Accounts Clause in Contracts

Required Additional Accounts. If, as of the close of business on the last Business Day of any calendar month, the aggregate amount of the Principal Receivables is less than the Required Minimum Principal Balance (as adjusted for any Series having a Paired Series as described in the Indenture Supplement for such Series) on such date, the Transferor shall on or prior to the close of business on the last Business Day of the next succeeding Due Period (the "REQUIRED DESIGNATION DATE"), unless the aggregate amount of the Principal Receivables exceeds the Required Minimum Principal Balance as of the close of business on any day after the last Business Day of such calendar month and prior to the Required Designation Date, effect the addition of Eligible Accounts to be included as Accounts as of the Required Designation Date or any earlier date in a sufficient amount (or such lesser amount as shall represent all Eligible Accounts constituting revolving credit accounts then available to the Transferor under the Receivables Purchase Agreement) such that, after giving effect to such addition and the addition by each other Transferor, the aggregate amount of the Principal Receivables is at least equal to the Required Minimum Principal Balance on such date.

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (Hrsi Funding Inc Ii), Transfer and Servicing Agreement (Hrsi Funding Inc Ii)

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Required Additional Accounts. If, as of the close of business on the last Business Day day of any calendar month, the aggregate amount of the Principal Receivables is less than the Required Minimum Principal Balance (as adjusted for any Series having a Paired Series as described in the Indenture Supplement for such Series) on such date, the Transferor shall on or prior to the close of business on the last Business Day day of the next succeeding Due Period (the "REQUIRED DESIGNATION DATE"“Required Designation Date” ), unless the aggregate amount of the Principal Receivables exceeds and continues to exceed the Required Minimum Principal Balance as of the close of business on any day after the last Business Day day of such calendar month and prior to the Required Designation Date, effect the addition of Eligible Accounts to be included as Accounts as of the Required Designation Date or any earlier date in a sufficient amount (or such lesser amount as shall represent all Eligible Accounts constituting revolving credit accounts then available to the Transferor under the Receivables Purchase Agreement) such that, after giving effect to such addition and the addition by each other Transferor, the aggregate amount of the Principal Receivables is at least equal to the Required Minimum Principal Balance on such date.

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (HSBC Credit Card Master Note Trust (Usa) I), Transfer and Servicing Agreement (HSBC Private Label Credit Card Master Note Trust (Usa) I)

Required Additional Accounts. If, as of the close of ---------------------------- business on the last Business Day of any calendar month, the aggregate amount of the Principal Receivables is less than the Required Minimum Principal Balance (as adjusted for any Series having a Paired Series as described in the Indenture Supplement for such Series) on such date, the Transferor shall on or prior to the close of business on the last Business Day of the next succeeding Due Period (the "REQUIRED DESIGNATION DATERequired Designation Date"), ------------------------- unless the aggregate amount of the Principal Receivables exceeds the Required Minimum Principal Balance as of the close of business on any day after the last Business Day of such calendar month and prior to the Required Designation Date, effect the addition of Eligible Accounts to be included as Accounts as of the Required Designation Date or any earlier date in a sufficient amount (or such lesser amount as shall represent all Eligible Accounts constituting revolving credit accounts then available to the Transferor under the Receivables Purchase Agreement) such that, after giving effect to such addition and the addition by each other Transferor, the aggregate amount of the Principal Receivables is at least equal to the Required Minimum Principal Balance on such date.

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (Household Credit Card Master Note Trust I), Transfer and Servicing Agreement (Household Credit Card Master Note Trust I)

Required Additional Accounts. If, as of the close of business on the last Business Day of any calendar month, the aggregate amount of the Principal Receivables is less than the Required Minimum Principal Balance (as adjusted for any Series having a Paired Series as described in the Indenture Supplement for such Series) on such date, the Transferor shall on or prior to the close of business on the last Business Day of the next succeeding Due Period (the "REQUIRED DESIGNATION DATERequired Designation Date"), unless the aggregate amount of the Principal Receivables exceeds the Required Minimum Principal Balance as of the close of business on any day after the last Business Day of such calendar month and prior to the Required Designation Date, effect the addition of Eligible Accounts to be included as Accounts as of the Required Designation Date or any earlier date in a sufficient amount (or such lesser amount as shall represent all Eligible Accounts constituting revolving credit accounts then available to the Transferor under the Receivables Purchase Agreement) such that, after giving effect to such addition and the addition by each other Transferor, the aggregate amount of the Principal Receivables is at least equal to the Required Minimum Principal Balance on such date.

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (Household Affinity Funding Corp Iii), Transfer and Servicing Agreement (Household Affinity Funding Corp Iii)

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Required Additional Accounts. If, as of the close of business on the last Business Day of any calendar month, the aggregate amount of the Principal Receivables is less than the Required Minimum Principal Balance (as adjusted for any Series having a Paired Series as described in the Indenture Supplement for such Series) on such date, the Transferor shall on or prior to the close of business on the last Business Day of the next succeeding Due Period (the "REQUIRED DESIGNATION DATE"), unless the aggregate amount of the Principal Receivables exceeds the Required Minimum Principal Balance as of the close of business on any day after the last Business Day of such calendar month and prior to the Required Designation Date, effect the addition of Eligible Accounts to be included as Accounts as of the Required Designation Date or any earlier date in a sufficient amount (or such lesser amount as shall represent all Eligible Accounts constituting revolving credit consumer loan accounts then available to the Transferor under the Receivables Purchase Agreement) such that, after giving effect to such addition and the addition by each other Transferor, the aggregate amount of the Principal Receivables is at least equal to the Required Minimum Principal Balance on such date.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Household Consumer Loan Corp Ii)

Required Additional Accounts. If, as of the close of business on the last Business Day of any calendar month, the aggregate amount of the Principal Receivables is less than the Required Minimum Principal Balance (as adjusted for any Series having a Paired Series as described in the Indenture Supplement for such Series) on such date, the Transferor Transferors shall on or prior to the close of business on the last Business Day of the next succeeding Due Period (the "REQUIRED DESIGNATION DATERequired Designation Date"), unless the aggregate amount of the Principal Receivables exceeds the Required Minimum Principal Balance as of the close of business on any day after the last Business Day of such calendar month and prior to the Required Designation Date, effect the addition of Eligible Accounts to be included as Accounts as of the Required Designation Date or any earlier date in a sufficient amount (or such lesser amount as shall represent all Eligible Accounts constituting revolving credit card accounts then available to the Transferor one or more Transferors under the Receivables Purchase Agreement) such that, after giving effect to such addition and the addition by each other Transferor, the aggregate amount of the Principal Receivables is at least equal to the Required Minimum Principal Balance on such date.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Conseco Finance Credit Funding Corp)

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