Interchange. On or prior to the third Business Day following the end of each Monthly Period, each Account Owner shall notify the Servicer and Chase Card Funding of the Interchange Amount, if any, which is required to be included as Finance Charge Collections with respect to the preceding Monthly Period. On the First Note Transfer Date following the applicable Monthly Period, each Account Owner shall pay to the Servicer and the Servicer shall deposit into the Collection Account, in immediately available funds, the Interchange Amount to be so included as Finance Charge Collections with respect to the preceding Monthly Period; provided, however, that such deposit needs to be made only to the extent that such funds are required to be retained in the applicable Bank Accounts for the benefit of any Series, Class or Tranche of Notes pursuant to the provisions of Article III of the Transfer and Servicing Agreement, the Asset Pool One Supplement or the related Indenture Supplement and any such amount that is not so deposited shall be paid to Chase Card Funding.
Appears in 6 contracts
Sources: Receivables Purchase Agreement (Jpmorgan Chase Bank, National Association), Receivables Purchase Agreement, Receivables Purchase Agreement (Chase Card Funding LLC)
Interchange. On or prior to the third second Business Day following the end of each Monthly Period, each Account Owner shall notify the Servicer and Chase Card Funding of the Interchange Amount, if any, which is required to be included as Asset Pool One Finance Charge Collections with respect to the preceding Monthly Period. On the First Note Transfer Date following the applicable Monthly Period, each Account Owner shall pay to the Servicer and the Servicer shall deposit into the Collection Account, in immediately available funds, the Interchange Amount to be so included as Asset Pool One Finance Charge Collections with respect to the preceding Monthly Period; provided, however, that such deposit needs to need be made only to the extent that such funds are required to be retained in the applicable Bank Accounts for the benefit of any Series, Class or Tranche of Asset Pool One Notes pursuant to the provisions of this Article III of the Transfer and Servicing Agreement, the this Asset Pool One Supplement or the related any applicable Indenture Supplement and any such amount that is not so deposited shall be paid to Chase Card Fundingthe applicable Transferor.
Appears in 4 contracts
Sources: Asset Pool Supplement (First Usa Credit Card Master Trust), Asset Pool Supplement (First Usa Credit Card Master Trust), Indenture (First Usa Credit Card Master Trust)