Common use of Settlement and Ongoing Payment of Purchase Price Clause in Contracts

Settlement and Ongoing Payment of Purchase Price. Prior to each Purchase Price Payment Date, Chase USA shall deliver a settlement statement (the “Settlement Statement”) to Chase Card Funding, showing (a) the aggregate Purchase Price of Receivables, Additional Collateral Certificates or increases in the invested amount of Collateral Certificates conveyed to Chase Card Funding during the prior Monthly Period, (b) the amount of Purchase Price Adjustments made with respect to such prior Monthly Period pursuant to Section 3.02, including any adjustment to the Purchase Price with respect to such period pursuant to Section 2.06 and (c) the portion thereof paid in cash, the portion represented by an increase in the Subordinated Note and the portion represented by a capital contribution pursuant to subsection 3.01(b). To the extent that Chase Card Funding elects to remit to Chase USA an amount greater than the Purchase Price of such Receivables, net of any Purchase Price Adjustment, Chase USA shall first apply such amount to the payment of the unpaid principal of the Subordinated Note, if any. If, after giving effect to any such payment in respect of the Subordinated Note, Chase USA has received an amount greater than the Purchase Price, net of any Purchase Price Adjustment, Chase USA shall retain such amounts and, at the option of Chase Card Funding (x) issue its note to Chase Card Funding with terms substantially similar to the terms of the Subordinated Note or (y) subject to applicable legal restrictions and internal approvals, elect to treat such amounts as a dividend or return of capital to Chase USA. Subject to the conditions set forth in Section 17 of the LLC Agreement, Chase Card Funding may distribute to Chase USA available cash that has not been reserved for the payment of the Purchase Price and other expenses and liabilities of Chase Card Funding at the times determined by Chase Card Funding in its sole discretion.

Settlement and Ongoing Payment of Purchase Price. Prior On each Distribution Date under the Pooling and Servicing Agreement, the Seller shall deliver, or cause to each Purchase Price Payment Datebe delivered, Chase USA shall deliver a settlement statement (the “"Settlement Statement”") to Chase Card Fundingthe Purchaser, showing (a) the aggregate Purchase Price of Receivables, Additional Collateral Certificates or increases in the invested amount of Collateral Certificates Receivables conveyed to Chase Card Funding the Purchaser during the prior Monthly Period, (b) the amount of Purchase Price Adjustments made with respect to such prior Monthly Period pursuant to Section 3.02, including any adjustment to the Purchase Price with respect to such period pursuant to Section 2.06 and (c) the portion thereof paid in cash, the portion represented by an increase in the Subordinated Note and the portion represented by a capital contribution contribution, and the amount which remains unpaid as Credit Adjustments made with respect to such prior Monthly Period pursuant to subsection 3.01(b)Section 3.2 hereof and any adjustment to the Purchase Price of Receivables with respect to such Monthly Period pursuant to Section 6.1 hereof. Any cash balance due from the Purchaser to the Seller shall be paid in cash in immediately available funds to the Seller or the Seller shall convey such amount as a capital contribution to the Purchaser or the outstanding balance of the Subordinated Note shall be increased to reflect such unpaid balance or a combination of the foregoing shall occur, and any balance due from the Purchaser to the Seller be paid in immediately available funds to the Purchaser. To the extent that Chase Card Funding elects to remit to Chase USA the Seller has received an amount greater than the Purchase Price of such Receivables, net of any Purchase Price Adjustment, Chase USA the Seller shall first apply such amount to the payment of the unpaid principal of the Subordinated Note, if any. If, after giving effect to any such payment in respect of the Subordinated Note, Chase USA the Seller has received an amount greater than the Purchase Price, net of any Purchase Price Adjustment, Chase USA the Seller shall retain such amounts and, at the option of Chase Card Funding the Purchaser (x) issue its note to Chase Card Funding the Purchaser with terms substantially similar to the terms of the Subordinated Note or (y) subject to applicable legal restrictions and internal approvalsthe Minimum Capital Ratio, elect to treat such amounts as a dividend or return of capital to Chase USAthe Seller. Subject to the conditions set forth in Section 17 of the LLC Agreement, Chase Card Funding may distribute to Chase USA available cash that has not been reserved for the payment of the Purchase Price and other expenses and liabilities of Chase Card Funding at the times determined by Chase Card Funding in its sole discretion.ARTICLE IV

Settlement and Ongoing Payment of Purchase Price. Prior to each Purchase Price Payment Date, Chase USA shall deliver a settlement statement (the “Settlement Statement”) to Chase Card Funding, showing (a) the aggregate Purchase Price of Receivables, Additional Collateral Certificates or increases in the invested amount of Collateral Certificates conveyed to Chase Card Funding during the prior Monthly Period, (b) the amount of Purchase Price Adjustments made with respect to such prior Monthly Period pursuant to Section 3.02, including any adjustment to the Purchase Price with respect to such period pursuant to Section 2.06 and (c) the portion thereof paid in cash, the portion represented by an increase in the Subordinated Note and the portion represented by a capital contribution pursuant to subsection 3.01(b). To the extent that Chase Card Funding elects to remit to Chase USA an amount greater than the Purchase Price of such Receivables, net of any Purchase Price Adjustment, Chase USA shall first apply such amount to the payment of the unpaid principal of the Subordinated Note, if any. If, after giving effect to any such payment in respect of the Subordinated Note, Chase USA has received an amount greater than the Purchase Price, net of any Purchase Price Adjustment, Chase USA shall retain such amounts and, at the option of Chase Card Funding (x) issue its note to Chase Card Funding with terms substantially similar to the terms of the Subordinated Note or (y) subject to applicable legal restrictions and internal approvals, elect to treat such amounts as a dividend or return of capital to Chase USA. Subject to the conditions set forth in Section 17 of the LLC Agreement, Chase Card Funding may distribute to Chase USA available cash that has not been reserved for the payment of the Purchase Price and other expenses and liabilities of Chase Card Funding at the times determined by Chase Card Funding in its sole discretion.or

Settlement and Ongoing Payment of Purchase Price. Prior On each Distribution Date under the Pooling and Servicing Agreement, the Seller shall deliver, or cause to each Purchase Price Payment Datebe delivered, Chase USA shall deliver a settlement statement (the “"Settlement Statement”") to Chase Card Fundingthe Purchaser, showing (a) the aggregate Purchase Price of Receivables, Additional Collateral Certificates or increases in the invested amount of Collateral Certificates Receivables conveyed to Chase Card Funding the Purchaser during the prior Monthly Period, (b) the amount of Purchase Price Adjustments made with respect to such prior Monthly Period pursuant to Section 3.02, including any adjustment to the Purchase Price with respect to such period pursuant to Section 2.06 and (c) the portion thereof paid in cash, the portion represented by an increase in the Subordinated Note and the portion represented by a capital contribution contribution, and the amount which remains unpaid as Credit Adjustments made with respect to such prior Monthly Period pursuant to subsection 3.01(b)Section 3.2 hereof and any adjustment to the Purchase Price of Receivables with respect to such Monthly Period pursuant to Section 6.1 hereof. Any cash balance due from the Purchaser to the Seller shall be paid in cash in immediately available funds to the Seller or the Seller shall convey such amount as a capital contribution to the Purchaser or the outstanding balance of the Subordinated Note shall be increased to reflect such unpaid balance or a combination of the foregoing shall occur, and any balance due from the Purchaser to the Seller be paid in immediately available funds to the Purchaser. To the extent that Chase Card Funding elects to remit to Chase USA the Seller has received an amount greater than the Purchase Price of such Receivables, net of any Purchase Price Adjustment, Chase USA the Seller shall first apply such amount to the payment of the unpaid principal of the Subordinated Note, if any. If, after giving effect to any such payment in respect of the Subordinated Note, Chase USA the Seller has received an amount greater than the Purchase Price, net of any Purchase Price Adjustment, Chase USA the Seller shall retain such amounts and, at the option of Chase Card Funding the Purchaser (x) issue its note to Chase Card Funding the Purchaser with terms substantially similar to the terms of the Subordinated Note or (y) subject to applicable legal restrictions and internal approvalsthe Minimum Capital Ratio, elect to treat such amounts as a dividend or return of capital to Chase USA. Subject to the conditions set forth in Section 17 of the LLC Agreement, Chase Card Funding may distribute to Chase USA available cash that has not been reserved for the payment of the Purchase Price and other expenses and liabilities of Chase Card Funding at the times determined by Chase Card Funding in its sole discretionSeller.