Common use of Series Default Amount Clause in Contracts

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit (as described below) Transferor Retained Finance Charge Collections for each prior day in the Current Monthly Period and second 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) and (ii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-3 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 1998-3 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit (as described below) Transferor Retained Finance Charge Collections for each prior day in the Current Monthly Period and second 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) and (ii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-3 2 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 1998-3 2 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit (as described below) an amount equal to the amount paid to the Transferor pursuant to subsection 3.02 (a)(vii) of the Transfer and Administration Agreement on each Business Day other than a Default Recognition Date to be treated as "Transferor Retained Finance Charge Collections Collections" for each prior day in the Current current Monthly Period and second 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) and through (iiiv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982000-3 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 19982000-3 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit apply (as described below) an amount equal to the amount paid to the Transferor pursuant to subsection 3.02(a)(vii) of the Transfer and Administration Agreement on each Business Day in the current Monthly Period other than a Default Recognition Date to be treated as "Transferor Retained Finance Charge Collections for each prior day in the Current Monthly Period Collections" and second 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) and through (iiiv) of the Agreement, in an amount equal to the lesser of (x) any such remaining Available Series 19982001-3 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 19982001-3 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit (as described below) Transferor Retained Finance Charge Collections for each prior day in the Current Monthly Period and second 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) and (ii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19981999-3 2 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 19981999-3 2 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit apply (as described below) an amount equal to the amount paid to the Transferor pursuant to subsection 3.2(a)(vii) of the Transfer and Administration Agreement on each Business Day in the current Monthly Period other than a Default Recognition Date to be treated as “Transferor Retained Finance Charge Collections for each prior day in the Current Monthly Period Collections” and second 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) and through (iiv) of the Agreement, in an amount equal to the lesser of (x) any such remaining Available Series 19982004-3 2 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 19982004-3 2 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit apply (as described below) Transferor Retained Finance Charge Collections for each prior day in the Current current Monthly Period and second 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) and (ii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982002-3 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 19982002-3 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit (as described below) Transferor Retained Finance Charge Collections for each prior day in the Current Monthly Period and second the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first first, only if such day is a Default Recognition Date, from the Cap Proceeds Account Transferor an amount equal to the extent of aggregate Transferor Retained Finance Charge Collections for each day during the Cap Receipt Amount related Monthly Period and then from the Collection Account and then from the Payment Reserve Account, Account to the extent of any Available Series 1998-3 A Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) and (ii) of the Agreement), an amount equal to the lesser of (x) any such remaining Available Series 1998-3 A Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) during the Revolving Period treated as Shared Principal Collections during the Revolving PeriodCollections, and (B) treated as Available Series 1998-3 during the Amortization Period on and prior to the day on which an amount equal to the Class A Invested Amount is deposited in the Principal Collections Account, to be deposited in the Principal Account for distribution to the Class A Securityholders on the next Distribution Date and (C) during the Amortization Period, on and after the day on which such deposit to the Principal Account with respect to the Class A Invested Amount has been made and on and prior to the day on which an amount equal to the Class B Invested Amount is paid to the Class B Securityholder, to be paid to the Class B Securityholders.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit (as described below) Transferor Retained Finance Charge Collections for each prior day in the Current Monthly Period and second 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) and (ii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19981999-3 1 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 19981999-3 1 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit (as described below) Transferor Retained Finance Charge Collections for each prior day in the Current Monthly Period and second 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 1999- Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) and through (iiiii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-3 1999- Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) to be treated as Available Series 1998-3 1999- Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit apply (as described below) Transferor Retained Finance Charge Collections for each prior day in the Current current Monthly Period and second 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) and (ii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982002-3 4 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 19982002-3 4 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit (as described below) an amount equal to the amount paid to the Transferor pursuant to subsection 3.02 (a)(vii) of the Transfer and Administration Agreement on each Business Day other than a Default Recognition Date to be treated as "Transferor Retained Finance Charge Collections Collections" for each prior day in the Current current Monthly Period and second 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) and through (iiiv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982001-3 1 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 19982001-3 1 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit apply (as described below) Transferor Retained Finance Charge Collections for each prior day in the Current current Monthly Period and second 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) and (ii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982004-3 1 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 19982004-3 1 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit (as described below) an amount equal to the amount paid to the Transferor pursuant to subsection 3.02 (a)(vii) of the Transfer and Administration Agreement on each Business Day other than a Default Recognition Date to be treated as "Transferor Retained Finance Charge Collections Collections" for each prior day in the Current current Monthly Period and second 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) and through (iiiv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982000-3 2 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 19982000-3 2 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit (as described below) an amount equal to the amount paid to the Transferor pursuant to subsection 3.02 (a)(vii) of the Transfer and Administration Agreement on each Business Day other than a Default Recognition Date to be treated as "Transferor Retained Finance Charge Collections Collections" for each prior day in the Current current Monthly Period and second 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) and through (iiiv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998[-3 ] Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 1998[-3 ] Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit (as described below) an amount equal to the amount paid to the Transferor pursuant to subsection 3.02 (a)(vii) of the Transfer and Administration Agreement on each Business Day other than a Default Recognition Date to be treated as "Transferor Retained Finance Charge Collections Collections" for each prior day in the Current current Monthly Period and second 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) and through (iiiv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982001-3 2 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 19982001-3 2 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit apply (as described below) an amount equal to the amount paid to the Transferor pursuant to subsection 3.02(a)(vii) of the Transfer and Administration Agreement on each Business Day in the current Monthly Period other than a Default Recognition Date to be treated as "Transferor Retained Finance Charge Collections for each prior day in the Current Monthly Period Collections" and second 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) and through (iiiv) of the Agreement, in an amount equal to the lesser of (x) any such remaining Available Series 19982001-3 4 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 19982001-3 4 Principal Collections during the Amortization Period.

Series Default Amount. On each Business Day, first if such day is the Default Recognition Date for the related Monthly Period, the Transferor will deposit (as described below) an amount equal to the amount paid to the Transferor pursuant to subsection 3.02 (a)(vii) of the Transfer and Administration Agreement on each Business Day other than a Default Recognition Date to be treated as "Transferor Retained Finance Charge Collections Collections" for each prior day in the Current current Monthly Period and second 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) and through (iiiv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 19982000-3 1 Finance Charge Collections and, if such day is the related Default Recognition Date for such Monthly Period, an amount equal to the aggregate Transferor Retained Finance Charge Collections for each prior day during the related Monthly Period and (y) the sum of (1) the aggregate Series Default Amount for such Business Day plus (2) the unpaid Series Default Amount for each previous Business Day during such Monthly Period, such amount to be (A) treated as Shared Principal Collections during the Revolving Period, and (B) treated as Available Series 19982000-3 1 Principal Collections during the Amortization Period.