Common use of Series Termination Clause in Contracts

Series Termination. (a) If, on the April 2011 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Date) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- day period which begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Termination Date (after giving effect to all distributions required to be made on the Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to Section 7.02(b)) occur on the Termination Date. The Seller shall be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Capital One Financial Corp), Pooling and Servicing Agreement (Capital One Master Trust)

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Series Termination. (a) If, on the April 2011 August 2007 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Datedate) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- forty-day period which that begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Series Termination Date (after giving effect to all distributions required to be made on the Series Termination Date, except pursuant to this Section SECTION 7.02). Such bids shall require that such sale shall (subject to Section SECTION 7.02(b)) occur on the Series Termination Date. The Seller shall be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (National City Credit Card Master Trust), Pooling and Servicing Agreement (National City Credit Card Master Trust)

Series Termination. (a) If, on the April 2011 January 2008 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Datedate) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- forty-day period which that begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Series Termination Date (after giving effect to all distributions required to be made on the Series Termination Date, except pursuant to this Section SECTION 7.02). Such bids shall require that such sale shall (subject to Section SECTION 7.02(b)) occur on the Series Termination Date. The Seller shall be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (National City Credit Card Master Trust), Pooling and Servicing Agreement (National City Credit Card Master Trust)

Series Termination. (a) If, on the April 2011 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Date) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- 40-day period which begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Termination Date (after giving effect to all distributions required to be made on the Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to Section 7.02(b)) occur on the Termination Date. The Seller shall be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Series Termination. (a) If, on the April 2011 June 2007 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Datedate) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- 40-day period which begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Series 1997-One Termination Date (after giving effect to all distributions required to be made on the Series 1997-One Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to Section subsection 7.02(b)) occur on the Series 1997-One Termination Date. The Seller Transferor shall be entitled to participate in, and to receive from the Trustee Servicer a copy of each other bid submitted in connection with, such bidding process.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Compucredit Corp)

Series Termination. (a) If, on the April 2011 July 2009 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Date) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- day period which begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Termination Date (after giving effect to all distributions required to be made on the Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to Section 7.02(b)) occur on the Termination Date. The Seller shall be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Series Termination. (a) If, on the April 2011 February 2009 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Datedate) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- 40-day period which that begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Termination Date (after giving effect to all distributions required to be made on the Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to Section 7.02(b)) occur on the Termination Date. The Seller and the Collateral Interest Holder shall be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Providian Master Trust)

Series Termination. (a) If, on the April 2011 May 2007 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Date) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- 40-day period which begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Termination Date (after giving effect to all distributions required to be made on the Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to Section 7.02(b)) occur on the Termination Date. The Seller shall be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Series Termination. (a) If, on the April 2011 June 2007 ------------------- Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Datedate) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- 40-day period which that begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Termination Date (after giving effect to all distributions required to be made on the Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to Section 7.02(b)) occur on the Termination Date. The Seller and the Collateral Interest Holder shall be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Providian National Bank /New/)

Series Termination. (a) If, on the April 2011 November 2008 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Datedate) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- forty-day period which that begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Series Termination Date (after giving effect to all distributions required to be made on the Series Termination Date, except pursuant to this Section SECTION 7.02). Such bids shall require that such sale shall (subject to Section SECTION 7.02(b)) occur on the Series Termination Date. The Seller shall not be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 1 contract

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

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Series Termination. (a) If, on the April 2011 November 2006 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Date) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- day period which begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Termination Date (after giving effect to all distributions required to be made on the Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to Section 7.02(b)) occur on the Termination Date. The Seller shall be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Series Termination. (a) If, on the April 2011 __________ 200_ Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Date) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- day period which begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Termination Date (after giving effect to all distributions required to be made on the Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to Section 7.02(b)) occur on the Termination Date. The Seller shall be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Series Termination. (a) If, on the April 2011 May 2005 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Date) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- 40-day period which begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Termination Date (after giving effect to all distributions required to be made on the Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to Section 7.02(b)) occur on the Termination Date. The Seller shall be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Series Termination. (a) If, on the April 2011 February 2006 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Date) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- day period which begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Termination Date (after giving effect to all distributions required to be made on the Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to Section 7.02(b)) occur on the Termination Date. The Seller shall be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Series Termination. (a) If, on the April 2011 March 2006 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Datedate) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40- 40-day period which that begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Termination Date (after giving effect to all distributions required to be made on the Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to Section 7.02(b)) occur on the Termination Date. The Seller Sellers shall be entitled to participate in, and to receive from the Trustee a copy of each other bid submitted in connection with, such bidding process.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Providian National Bank)

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