Common use of Postponement of Accumulation Period Clause in Contracts

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end of the day on the last day of the [_________] Collection Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, be delayed to the first day of any month that is a number of whole months prior to the Class A Expected Final Distribution Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Periods in the Accumulation Period shall at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall determine the "Accumulation Period Length," which shall equal the number of whole months such that the sum of the 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 Accumulation Period Length shall not be determined to be less than one month.

Appears in 2 contracts

Samples: Master Pooling and Servicing Agreement (First North American National Bank), Master Pooling and Servicing Agreement (First North American National Bank)

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Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection April 2000 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 2 contracts

Samples: Series 1998 (Metris Master Trust), Pooling and Servicing Agreement (Metris Receivables Inc)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end of the day on the last day of the [_________] Collection July 2001 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, be delayed to the first day of any month that is a number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall determine the "Accumulation Period Length," which shall equal the number of whole months such that the sum of the 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 Accumulation Period Length shall not be determined to be less than one month.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Proffitts Credit Card Master Trust), Pooling and Servicing Agreement (Proffitts Credit Card Master Trust)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection March 2001 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 2 contracts

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

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end of the day on the last day of the [_________] Collection April 2000 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, be delayed to the first day of any month that is a number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall determine the "Accumulation Period Length," which shall equal the number of whole months such that the sum of the 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 Accumulation Period Length shall not be determined to be less than one month.

Appears in 1 contract

Samples: And Servicing Agreement (Saks Inc)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection April 2000 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the 52 Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Receivables Inc)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection January 2001 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Series 1998 (Metris Master Trust)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection January 2004 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection April 2004 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until beginning on the January 2004 Determination Date and ending when the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection March 2006 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, upon written notice to the Trustee and the Insurer, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until beginning on the December 2005 Determination Date and ending when the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection July 2002 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until beginning on the May 2002 Determination Date and ending when the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection May 2003 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Receivables Inc)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Postponement of Accumulation Period. The Accumulation Period ----------------------------------- is scheduled to commence at the end of the day on the last day of the [_________] Collection June 2001 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, be delayed to the first day of any month that is a number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall determine the "Accumulation ------------ Period Length," which shall equal the number of whole months such that the sum ------------- of the 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 Accumulation Period Length shall not be determined to be less than one monthmonth nor greater than 12 months.

Appears in 1 contract

Samples: And Servicing Agreement (Saks Credit Corp)

Postponement of Accumulation Period. The Accumulation ----------------------------------- Period is scheduled to commence at after the end of the day on the last day of the [_________] Collection June 2005 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, be delayed to the first day of any month that is a number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall determine the "Accumulation ------------ Period Length," which shall equal the number of whole months such that the sum ------------- of the 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 Accumulation Period Length shall not be determined to be less than one monthmonth nor greater than 12 months.

Appears in 1 contract

Samples: And Servicing Agreement (Saks Credit Corp)

Postponement of Accumulation Period. The Accumulation Period ----------------------------------- is scheduled to commence at the end of the day on the last day of the [_________] Collection April 2000 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, be delayed to the first day of any month that is a number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall determine the "Accumulation Period Length," which shall equal the number of -------------------------- whole months such that the sum of the 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 Accumulation Period Length shall not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Proffitts Credit Corp)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection July 2003 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until beginning on the May 2003 Determination Date and ending when the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection April 2002 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 20 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until beginning on the February 2002 Determination Date and ending when the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end of the day on the last day of the [_________] April 2005 Collection Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, be delayed to the first day of any month that is a number of whole months prior to the Class A Expected Final Distribution Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Periods in the Accumulation Period shall at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall determine the "Accumulation Period Length," which shall equal the number of whole months such that the sum of the 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 Accumulation Period Length shall not be determined to be less than one month.

Appears in 1 contract

Samples: Master Indenture (Fnanb Credit Card Master Trust)

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Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection June 2005 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Scheduled Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Receivables Inc)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection September 2005 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until beginning on the June 2005 Determination Date and ending when the Accumulation Period begins, the Servicer shall will determine the "β€œAccumulation Period Length," ” which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Receivables Inc)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end of the day on the last day of the [_________] Collection _ Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, be delayed to the first day of any month that is a number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall determine the "Accumulation Period Length," which shall equal the number of whole months such that the sum of the 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 Accumulation Period Length shall not be determined to be less than one month.

Appears in 1 contract

Samples: Proffitts Credit Corp

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection October 2001 Monthly Period; providedPROVIDED, howeverHOWEVER, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; providedPROVIDED, howeverHOWEVER, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Receivables Inc)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection August 2003 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until beginning on the May 2003 Determination Date and ending when the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection September 2004 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until beginning on the July 2004 Determination Date and ending when the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection April 2006 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until beginning on the January 2006 Determination Date and ending when the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Receivables Inc)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end of the day on the last day of the [_________] October 2001 Collection Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the Transferor, be delayed to the first day of any month that is a number of whole months prior to the Class A Expected Final Distribution Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Periods in the Accumulation Period shall at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall determine the "Accumulation Period Length," which shall equal the number of whole months such that the sum of the 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 Accumulation Period Length shall not be determined to be less than one month.

Appears in 1 contract

Samples: Master Pooling and Servicing Agreement (Fnanb Credit Card Master Trust)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection October 2001 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Receivables Inc)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________] Collection April 2005 Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until beginning on the February 2005 Determination Date and ending when the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

Postponement of Accumulation Period. The Accumulation Period is scheduled to commence at the end close of the day business on the last day of the [_________-] Collection [-] Monthly Period; provided, however, that, if the Accumulation Period Length (determined as described below) shall be is less than 12 [12] months, the date on which the Accumulation Period actually commences may, at the option of the TransferorServicer, upon written notice to the Trustee, be delayed to the first day Business Day of any the month that is a the number of whole months prior to the Class A Expected Final Distribution Payment Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Monthly Periods in the Accumulation Period shall will at least equal the Accumulation Period Length. On each Determination Date until beginning on the [-] [-] Determination Date and ending when the Accumulation Period begins, the Servicer shall will determine the "Accumulation Period Length," which shall will equal the number of whole months such that the sum of the Accumulation Period Factors for each month Monthly Period during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall will not be determined to be less than one month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Metris Master Trust)

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