Variable Funding Certificates definition

Variable Funding Certificates shall have the meaning specified in any Variable Funding Supplement.

Variable Funding Certificates means a series of Investor Certificates, in one or more Classes, issued pursuant to Section 6.9 and a Variable Funding Supplement hereto.

Variable Funding Certificates or "VFC Certificates" shall have the meaning specified in Section 5.10.

Examples of Variable Funding Certificates in a sentence

• Subject to the Pooling and Servicing Agreement and the Supplement, payments of principal are limited to the unpaid Class A Invested Amount of the Class A Variable Funding Certificates, which may be less than the unpaid balance of the Class A Variable Funding Certificates pursuant to the terms of the Pooling and Servicing Agreement and the Supplement.

• Subject to the Pooling and Servicing Agreement and the Supplement, payments of principal are limited to the unpaid Class B Invested Amount of the Class B Variable Funding Certificates, which may be less than the unpaid balance of the Class B Variable Funding Certificates pursuant to the terms of the Pooling and Servicing Agreement and the Supplement.

• As provided in the Pooling and Servicing Agreement and certain limitations therein and herein set forth, Class B Variable Funding Certificates are exchangeable for new Class B Variable Funding Certificates evidencing like aggregate fractional undivided interests, as requested by the Class B Certificateholder surrendering such Class B Variable Funding Certificates.

• Interest will accrue on the unpaid principal amount of the Class B Variable Funding Certificates at a per annum rate equal to the Class B Certificate Rate and will be calculated on each Business Day based on the product of the Class B Certificate Rate and the outstanding principal balance of the Class B Variable Funding Certificates on such Business Day.

• After the Series Termination Date, neither the Trust nor the Transferor will have any further obligation to distribute principal or interest on the Class B Variable Funding Certificates.

More Definitions of Variable Funding Certificates

Variable Funding Certificates is defined in the Indenture.

Variable Funding Certificates. Any successor trustee appointed pursuant to this Section 11.7 shall be subject to the written consent of the Facility Agent, which consent shall not be unreasonably withheld."

Variable Funding Certificates. The Transferor shall comply with and perform its obligations and shall cause the Originators to comply with and perform their obligations under the Charge Account Agreements relating to the Accounts and the Credit and Collection Policy except insofar as any failure to comply or perform would not materially and adversely affect the rights of the Trust or the Certificateholders hereunder or under the Certificates. The Transferor may change the terms and provisions of the Charge Account Agreements or the Credit and Collection Policy in any respect (including the reduction of the required minimum monthly payment, the calculation of the amount, or the timing, or charge offs and the periodic finance charges and other fees to be assessed thereon) only if such change (i) would not, in the reasonable belief of the Transferor, cause, immediately or with the passage of time, a Series 1997-1 Pay Out Event to occur, (ii) it will not make any such change with the intent to materially benefit the Transferor or any Originator over the Investor Certificateholders, except as otherwise restricted by an endorsement, sponsorship, or other agreement between the Transferor and an unrelated third party or by the terms of the Charge Account Agreements, and (iii) if the Servicer is servicing charge card accounts owned by an unrelated third party, such change would not result in the Servicer's applying a materially higher standard of care to the servicing of such accounts than it applies under this Agreement."

Variable Funding Certificates. Any Successor Servicer must either (A) be approved by the Facility Agent or (B) be a Person which (i) has a tangible net worth of at least $50,000,000, (ii) has serviced an - 57 - 62 average of at least $1,000,000,000 of credit or charge card receivables outstanding during the previous 12 months and (iii) has a senior long-term debt rating, as determined by at least one nationally recognized statistical rating organization, of at least "BBB" or its equivalent, provided, that if such Successor Servicer has no long term debt or such debt is not rated by a nationally recognized statistical rating organization, the long term debt rating of its parent must be at least "BBB" or its equivalent."

Variable Funding Certificates or VFC Certificates" shall have the meaning specified in Section 6.8(e) of the Agreement.

Variable Funding Certificates is defined in the Indenture. Annex A to Servicing Agreement

Variable Funding Certificates means any Investor Certificates the Holders of which have agreed to fund additional Class Initial Investor Interests and accept principal payments from time to time during the revolving period for the Series of which those Variable Funding Certificates are a part. The Class A Investor Certificates and Class C Investor Certificates issued and authenticated pursuant to this Series Supplement are Variable Funding Certificates.