Common use of Excess Amounts Clause in Contracts

Excess Amounts. After payment in full of any Tranche of Notes pursuant to clauses (1) through (4) of this Section 3.05, as applicable, any amounts remaining on deposit in the applicable Principal Funding Subaccount will be withdrawn from such Principal Funding Subaccount and the aggregate amount of such withdrawals shall be distributed to the Beneficiary (as defined in the Trust Agreement) in accordance with Section 4.01 of the Trust Agreement.

Appears in 2 contracts

Samples: Indenture (Discover Card Master Trust I), Indenture (Discover Card Master Trust I)

AutoNDA by SimpleDocs

Excess Amounts. After payment in full of any Tranche of Notes Notes, including payment of all amounts payable pursuant to clauses (1) through (4) of this Section 3.053.04, as applicable, any amounts remaining on deposit in the applicable Principal Interest Funding Subaccount will be withdrawn from such Principal Interest Funding Subaccount and the aggregate amount of such withdrawals shall be distributed to the Beneficiary (as defined in the Trust Agreement) in accordance with Section 4.01 of the Trust Agreement.

Appears in 2 contracts

Samples: Indenture (Discover Card Master Trust I), Indenture (Discover Card Master Trust I)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.