Series Available Principal Collections Shortfall definition

Series Available Principal Collections Shortfall means, with respect to any Monthly Period as determined on the related Note Transfer Date, (a) with respect to Series 2018-1, the excess, if any, of (i) the lesser of the amounts determined pursuant to Sections 4.03(b)(ii) and (iii), for such Monthly Period over (ii) the Series 2018-1 Available Principal Collections, less any amount released and used to purchase Receivables under Section 4.01(f), with respect to such Monthly Period and (b) with respect to any other Series of Notes, the amount set forth in the applicable Indenture Supplement for such Monthly Period; provided, however, that the Issuer, when authorized by an Officer’s Certificate of the Transferor, may amend or otherwise modify this definition of Series Available Principal Collections Shortfall provided that the Note Rating Agency Condition is satisfied.

Series Available Principal Collections Shortfall means, with respect to any Monthly Period as determined on the related Note Transfer Date, (a) with respect to Series 2022-CRT1, the excess, if any, of (i) the aggregate amount targeted to be paid or applied pursuant to subsection 4.06(b)(i) through (iv) for such Monthly Period (with Monthly Principal being determined, for the purpose of subsection 4.06(b)(i) in determining Series Available Principal Collections Shortfall, without reference to clause (b)(i) of Section 4.03) over (ii) the Series 2022-CRT1 Available Principal Collections with respect to such Monthly Period and (b) with respect to any other Series of Notes, the amount set forth in the applicable Indenture Supplement for such Monthly Period; provided, however, that the Issuer, when authorized by an Officer’s Certificate of each Transferor, may amend or otherwise modify this definition of Series Available Principal Collections Shortfall provided the Note Rating Agency Condition shall have been satisfied.

Series Available Principal Collections Shortfall has, with respect to any Shared Excess Available Principal Collections Series, the meaning specified in the related Indenture Supplement.

Examples of Series Available Principal Collections Shortfall in a sentence

• On each First Note Transfer Date, the Servicer shall determine with respect to the prior Monthly Period whether there is a Remaining Series Available Principal Collections Shortfall for any Series of Notes after application of Shared Excess Available Principal Collections for the benefit of such Series of Notes for such Monthly Period.

• On each Determination Date, the Servicer shall determine with respect to the prior Monthly Period whether there is a Remaining Series Available Principal Collections Shortfall for any Series of Asset Pool One Notes after application of Shared Excess Available Principal Collections for the benefit of such Series of Notes for such Monthly Period.

• On each Note Transfer Date, the Servicer shall determine with respect to the prior Monthly Period whether there is a Remaining Series Available Principal Collections Shortfall for any Series of Notes after application of Shared Excess Available Principal Collections for the benefit of such Series of Notes for such Monthly Period.

More Definitions of Series Available Principal Collections Shortfall

Series Available Principal Collections Shortfall has, with respect to any Series of Asset Pool One Notes, the meaning specified in the applicable Indenture Supplement for such Series of Asset Pool One Notes.

Series Available Principal Collections Shortfall means, with respect to any Monthly Period as determined on the related Note Transfer Date, (a) with respect to Series [•], the excess, if any, of (i) the lesser of the amounts determined pursuant to Sections 4.03(b)(ii) and (iii), for such Monthly Period over (ii) the Series [•] Available Principal Collections, less any amount released and used to purchase Receivables under Section 4.01(f), with respect to such Monthly Period and (b) with respect to any other Series of Notes, the amount set forth in the applicable Indenture Supplement for such Monthly Period; provided, however, that the Issuer, when authorized by an Officer’s Certificate of the Transferor, may amend or otherwise modify this definition of Series Available Principal Collections Shortfall provided that the Note Rating Agency Condition is satisfied.

Series Available Principal Collections Shortfall means, with respect to any Monthly Period as determined on the related Note Transfer Date, (a) with respect to Series 2013-1, the excess, if any, of (i) the aggregate amount targeted to be paid or applied pursuant to subsection 4.06(b)(i) through (iv) for such Monthly Period over (ii) the Series 2013-1 Available Principal Collections with respect to such Monthly Period and (b) with respect to any other Series of Notes, the amount set forth in the applicable Indenture Supplement for such Monthly Period; provided, however, that the Issuer, when authorized by an Officer’s Certificate of each Transferor, may amend or otherwise modify this definition of Series Available Principal Collections Shortfall provided the Note Rating Agency Condition shall have been satisfied.

Series Available Principal Collections Shortfall means, with respect to any Monthly Period as determined on the related Determination Date, (1) with respect to the CHASEseries, the excess, if any, of (a) the aggregate amount targeted to be paid or applied pursuant to subsection 3.09(e) over (b) the CHASEseries Available Principal Collections (excluding any amounts to be applied in accordance with Sections 3.28 and 3.29) with respect to such Monthly Period remaining after application pursuant to subsections 3.09(a) through (d) and (2) with respect to any other Series of Asset Pool One Notes, the amount set forth in the applicable Indenture Supplement for such Monthly Period; provided, however, that the Issuing Entity, when authorized by an Officer’s Certificate, may amend or otherwise modify this definition of Series Available Principal Collections Shortfall provided the Note Rating Agencies confirm in writing that the amendment or modification will not cause a Ratings Effect with respect to any Outstanding CHASEseries Notes.

Series Available Principal Collections Shortfall has, with respect to any Series of Notes, the meaning specified in the applicable Indenture Supplement for such Series of Notes.

Series Available Principal Collections Shortfall means, with respect to the SynchronySeries, for any Monthly Period, the excess, if any, of (a) the aggregate amount targeted to be paid or applied pursuant to clause (f) of Section 3.09 over (b) the SynchronySeries Available Principal Collections (excluding any amounts to be applied in accordance with Section 3.27) with respect to such Monthly Period remaining after application pursuant to clauses (a) through (e) of Section 3.09.

Series Available Principal Collections Shortfall means, with respect to any Monthly Period as determined on the related Note Transfer Date, (a) with respect to Series 201[ ]-[ ], the excess, if any, of (i) the aggregate amount targeted to be paid or applied pursuant to subsection 4.06(b)(i) through (iv) for such Monthly Period over (ii) the Series 201[ ]-[ ] Available Principal Collections with respect to such Monthly Period and (b) with respect to any other Series of Notes, the amount set forth in the applicable Indenture Supplement for such Monthly Period; provided, however, that the Issuer, when authorized by an Officer’s Certificate of each Transferor, may amend or otherwise modify this definition of Series Available Principal Collections Shortfall provided the Note Rating Agency Condition shall have been satisfied.