Common use of Controlled Accumulation Period Clause in Contracts

Controlled Accumulation Period. The Controlled Accumulation Period is scheduled to commence at the close of business on the day prior to the first Business Day of May 2008 Provided, however, that, if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)) is less than 12 months, the date on which the Controlled Accumulation Period actually commences shall be delayed to the first Business Day of the month that is the number of months prior to the Series 2006-2 Scheduled Redemption Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the Distribution Date in May 2008 and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer will determine the ‘‘Controlled Accumulation Period Length’’ which will equal the lowest number of months such that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; Provided, however, that the Controlled Accumulation Period Length will not be less than one month and Provided further that the Controlled Accumulation Period Length shall equal the lowest number of months such that the product of the Controlled Accumulation Period Length and the Controlled Deposit Amount taking into consideration the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor Interest.

Appears in 1 contract

Samples: Turquoise Funding I LTD

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Controlled Accumulation Period. The Controlled Accumulation ------------------------------ Period is scheduled to commence at the close opening of business on the day prior to the first Business Day of May 2008 ProvidedMarch 1, however, that2004. However, if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)below) is less than 12 months, the date on which the Controlled Accumulation Period actually commences shall will be delayed to the first Business Day of the month that is the number of whole months prior to the Series 2006-2 Scheduled Redemption Expected Principal Distribution Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date in May 2008 Date, and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer will determine the ‘‘Controlled Accumulation Period Length’’ " which will equal the lowest number of whole months such --------------------------- that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; Providedprovided, however, that the Controlled Accumulation Period Length will not be determined to -------- ------- be less than one month and Provided further month; provided further, however, that the Controlled determination of the -------- ------- ------- Accumulation Period Length shall equal may be changed at any time if the lowest number of months such that the product of the Controlled Accumulation Period Length and the Controlled Deposit Amount taking into consideration the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor InterestRating Agency Condition is satisfied.

Appears in 1 contract

Samples: Spiegel Credit Corp Iii

Controlled Accumulation Period. The Controlled ------------------------------ Accumulation Period is scheduled to commence at the close opening of business on the day prior to the first Business Day of May 2008 ProvidedMarch 1, however, that2004. However, if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)below) is less than 12 months, the date on which the Controlled Accumulation Period actually commences shall will be delayed to the first Business Day of the month that is the number of whole months prior to the Series 2006-2 Scheduled Redemption Expected Principal Distribution Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date in May 2008 Date, and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer will determine the ‘‘Controlled "Accumulation Period Length’’ " which will equal the lowest number of whole months -------------------------- such that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; Providedprovided, however, that the Controlled Accumulation Period Length will -------- ------- not be determined to be less than one month and Provided further month; provided further, however, -------- ------- ------- that the Controlled determination of the Accumulation Period Length shall equal may be changed at any time if the lowest number of months such that the product of the Controlled Accumulation Period Length and the Controlled Deposit Amount taking into consideration the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor InterestRating Agency Condition is satisfied.

Appears in 1 contract

Samples: Spiegel Inc

Controlled Accumulation Period. The Controlled Accumulation Period is scheduled to commence at the close of business on the day prior to the first Business Day of May 2008 Provided, however, that, if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)) is less than 12 months, the date on which the Controlled Accumulation Period actually commences shall be delayed to the first Business Day of the month that is the number of months prior to the Series 20062007-2 1 Scheduled Redemption Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the Distribution Date in May 2008 and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer will determine the ‘‘Controlled Accumulation Period Length’’ which will equal the lowest number of months such that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; Provided, however, that the Controlled Accumulation Period Length will not be less than one month and Provided further that the Controlled Accumulation Period Length shall equal the lowest number of months such that the product of the Controlled Accumulation Period Length and the Controlled Deposit Amount taking into consideration the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor Interest.

Appears in 1 contract

Samples: Turquoise Funding I LTD

Controlled Accumulation Period. The Controlled Accumulation Period is scheduled to commence at on the close first business day of business on the day prior to the first Business Day of May 2008 ProvidedJune 2009 PROVIDED, howeverHOWEVER, that, if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)5.05(g) below) is less than 12 18 months, the date on which the Controlled Accumulation Period actually commences shall may be delayed to the first Business Day of the month that is the number of months prior to the Series 20062005-2 B Scheduled Redemption Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. However, the Controlled Accumulation Period will, in any event, begin no later than the first business day of November 2010. On the Determination Date immediately preceding the Distribution Date falling in May 2008 June 2009 and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer Trust Cash Manager will determine the ‘‘Controlled Accumulation Period Length’’ "CONTROLLED ACCUMULATION PERIOD LENGTH" which will equal the lowest number of months such that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; ProvidedPROVIDED, howeverHOWEVER, that the Controlled Accumulation Period Length will not be less than one month and Provided further that the Controlled Accumulation Period Length shall equal the lowest number of months such that the product of the Controlled Accumulation Period Length and the Controlled Deposit Amount taking into consideration the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor Interest.

Appears in 1 contract

Samples: Management Agreement (Arran Funding LTD)

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Controlled Accumulation Period. The Controlled Accumulation ------------------------------ Period is scheduled to commence at the close of business on the day prior to the first Business Day of May 2008 Provided[_____ __, however, that20__]. However, if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)below) is less than 12 months, the date on which the Controlled Accumulation Period actually commences shall will be delayed to the first Business Day of the month that is the number of whole months prior to the Series 2006-2 Scheduled Redemption Expected Principal Distribution Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the [_____ ____] Distribution Date in May 2008 Date, and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer will determine the ‘‘Controlled "Accumulation Period Length’’ " which will equal the lowest number of whole months such -------------------------- that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; Providedprovided, however, that the Controlled Accumulation Period Length -------- ------- will not be determined to be less than one month and Provided further month; provided further, however, ---------------- ------- that the Controlled determination of the Accumulation Period Length shall equal may be changed at any time if the lowest number of months such that the product of the Controlled Accumulation Period Length and the Controlled Deposit Amount taking into consideration the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor InterestRating Agency Condition is satisfied.

Appears in 1 contract

Samples: First Consumers Master Trust

Controlled Accumulation Period. The Controlled Accumulation Period is scheduled to commence at the close opening of business on the day prior to the first Business Day of May 2008 ProvidedMarch 1, however, that2004. However, if the Controlled Accumulation Period Length (determined as described in this Clause 5.5(f)below) is less than 12 months, the date on which the Controlled Accumulation Period actually commences shall will be delayed to the first Business Day of the month that is the number of whole months prior to the Series 2006-2 Scheduled Redemption Expected Principal Distribution Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date in May 2008 Date, and on each Determination Date thereafter until the Controlled Accumulation Period actually begins, the Servicer will determine the ‘‘Controlled "Accumulation Period Length’’ " which will equal the lowest number of whole months such that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; Providedprovided, however, that the Controlled Accumulation Period Length will not be determined to be less than one month and Provided further month; provided further, however, that the Controlled determination of the Accumulation Period Length shall equal may be changed at any time if the lowest number of months such that the product of the Controlled Accumulation Period Length and the Controlled Deposit Amount taking into consideration the Maximum Controlled Deposit Amount would be equal to or greater than the Initial Investor InterestRating Agency Condition is satisfied.

Appears in 1 contract

Samples: Spiegel Inc

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