Common use of Interchange Clause in Contracts

Interchange. On or prior to each Determination Date, the Sellers shall notify the Servicer of the amount of Interchange to be included as Collections of Finance Charge Receivables with respect to the preceding Due Period, which shall be equal to (i) the amount of Interchange paid or payable to Citibank with respect to such Due Period multiplied by a fraction, the numerator of which is the aggregate amount of cardholder charges for goods and services in the Accounts maintained by Citibank with respect to such Due Period and the denominator of which is the aggregate amount of cardholder charges for goods and services in all the “MasterCard,” “VISA” and “American Express” revolving credit card accounts and all other types of revolving credit card accounts included as Accounts (except as otherwise provided in the Assignment with respect to any such other types of Accounts), in each case maintained by Citibank with respect to such Due Period and (ii) the amount of Interchange paid or payable to each Additional Seller or other Account Owner with respect to such Due Period calculated in the manner described in clause (i). Not later than 12:00 noon, New York City time, on each Distribution Date, the Sellers shall deposit into the Collection Account in immediately available funds the amount of Interchange to be so included as Collections of Finance Charge Receivables with respect to the preceding Due Period.

Interchange. On or prior to each Determination Date, the Sellers shall notify the Servicer of the amount of Interchange to be included as Collections of Finance Charge Receivables with respect to the preceding Due Period, which shall be equal to (i) the amount of Interchange paid or payable to Citibank (South Dakota) with respect to such Due Period multiplied by a fraction, the numerator of which is the aggregate amount of cardholder charges for goods and services in the Accounts maintained by Citibank (South Dakota) with respect to such Due Period and the denominator of which is the aggregate amount of cardholder charges for goods and services in all the “"MasterCard,” “" and "VISA” and “American Express” " revolving credit card accounts and all other types of revolving credit card accounts included as Accounts (except as otherwise provided in the Assignment with respect to any such other types of Accounts), in each case maintained by Citibank (South Dakota) with respect to such Due Period and (ii) the amount of Interchange paid or payable to each Additional Seller or other Account Owner with respect to such Due Period calculated in the manner described in clause (i). Not later than 12:00 noon, New York City time, on each Distribution Date, the Sellers shall deposit into the Collection Account in immediately available funds the amount of Interchange to be so included as Collections of Finance Charge Receivables with respect to the preceding Due Period.

Interchange. On or prior to each Determination Date, the Sellers shall notify the Servicer of the amount of Interchange to be included as Collections of Finance Charge Receivables with respect to the preceding Due Period, which shall be equal to (i) the amount of Interchange paid or payable to Citibank (South Dakota) with respect to such Due Period multiplied by a fraction, the numerator of which is the aggregate amount of cardholder charges for goods and services in the Accounts maintained by Citibank (South Dakota) with respect to such Due Period and the denominator of which is the aggregate amount of cardholder charges for goods and services in all the “MasterCard,” “VISA” and “American ExpressVISA” revolving credit card accounts and all other types of revolving credit card accounts included as Accounts (except as otherwise provided in the Assignment with respect to any such other types of Accounts), in each case maintained by Citibank (South Dakota) with respect to such Due Period and (ii) the amount of Interchange paid or payable to each Additional Seller or other Account Owner with respect to such Due Period calculated in the manner described in clause (i). Not later than 12:00 noon, New York City time, on each Distribution Date, the Sellers shall deposit into the Collection Account in immediately available funds the amount of Interchange to be so included as Collections of Finance Charge Receivables with respect to the preceding Due Period.