Common use of Determination of Principal Amounts Clause in Contracts

Determination of Principal Amounts. (a) The amount of principal (the "Class A Principal") distributable from the Distribution Account or available for deposit into the Principal Funding Account with respect to the Class A Certificates for each Distribution Date with respect to the Amortization Period shall be equal to the least of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to the related Transfer Date, (ii) for each Distribution Date with respect the Accumulation Period, prior to the payment in full of the Class A Invested Amount and on or prior to the Expected Final Payment Date, the applicable Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Invested Amount on such Transfer Date.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Metris Master Trust), Pooling and Servicing Agreement (Metris Receivables Inc), Pooling and Servicing Agreement (Metris Receivables Inc)

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