Common use of Withdrawals for Discount Notes Clause in Contracts

Withdrawals for Discount Notes. On each applicable Monthly Principal Date, with respect to each tranche of Discount Notes, an amount equal to the amount of the accretion of principal of that tranche of Notes from the prior Monthly Principal Date (or in the case of the first Monthly Principal Date the date of issuance of that tranche) to the applicable Monthly Principal Date (plus any accretions of principal from prior Due Periods for which no withdrawal was made) will be withdrawn from that Interest Funding sub-Account and invested in the Collateral Certificate pursuant to Section 520(a).

Appears in 2 contracts

Samples: Indenture, Indenture (Citibank Credit Card Issuance Trust)

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Withdrawals for Discount Notes. On each applicable Monthly Principal Date, with respect to each tranche of Discount Notes, an amount equal to the amount of the accretion of principal of that tranche of Notes from the prior Monthly Principal Date (or in the case of the first Monthly Principal Date the date of issuance of that tranche) to the applicable Monthly Principal Date (plus any accretions of principal from prior Due Periods for which no withdrawal was made) will be withdrawn from that Interest Funding sub-sub- Account and invested in the Collateral Certificate pursuant to Section 520(a).

Appears in 1 contract

Samples: Indenture (Citibank Credit Card Master Trust I)

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Withdrawals for Discount Notes. On each applicable Monthly Principal Date, with respect to each tranche of Discount Notes, an amount equal to the lesser of (i) the amount of the accretion of principal of that such tranche of Notes from the prior Monthly Principal Date (or in the case of the first Monthly Principal Date Date, the date of issuance of that such tranche) to the applicable Monthly Principal Date Date, and (plus any accretions of principal from prior Due Periods for which no withdrawal was madeii) the amount on deposit in the applicable Interest Funding sub-Account will be withdrawn from that such Interest Funding sub-Account and invested in the Collateral Certificate pursuant to Section 520(a519(a).

Appears in 1 contract

Samples: Indenture (Citibank South Dakota N A)

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