Common use of Required Additions Clause in Contracts

Required Additions. (i) If, (A) as determined on any Determination Date, the Asset Pool One Transferor Amount for the prior Monthly Period is less than the Asset Pool One Required Transferor Amount for such prior Monthly Period, the Issuing Entity shall (1) designate Receivables in additional Accounts for inclusion in Asset Pool One, (2) designate one or more additional Collateral Certificates for inclusion in Asset Pool One (each, an “Additional Asset Pool One Collateral Certificate”) or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates pursuant to Section 2.3 in a sufficient amount such that, after giving effect to such addition or increase, the Asset Pool One Transferor Amount for the prior Monthly Period would have been at least equal to the Asset Pool One Required Transferor Amount for such prior Monthly Period, or (B) as determined on any Determination Date, the Asset Pool One Pool Balance for the prior Monthly Period is less than the Asset Pool One Minimum Pool Balance for such prior Monthly Period, the Issuing Entity shall (1) designate Receivables in Additional Asset Pool One Accounts for inclusion in Asset Pool One, (2) designate one or more Additional Asset Pool One Collateral Certificates for inclusion in Asset Pool One or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates pursuant to Section 2.3 in a sufficient amount such that, after giving effect to such addition or increase, the Asset Pool One Pool Balance would have been equal to or greater than the Asset Pool One Minimum Pool Balance for such prior Monthly Period; provided, however, that in the event of a Servicer Rating Event, the Asset Pool One Transferor Amount and the Asset Pool One Pool Balance will be determined on a daily basis in accordance with a method to be determined by the Transferor, subject to satisfaction of the Note Rating Agency Condition. Any increase in the Invested Amount of one or more existing Asset Pool One Collateral Certificates shall occur and/or designation of Receivables in any Additional Asset Pool One Accounts and/or one or more Additional Asset Pool One Collateral Certificates to be transferred to the Trust and designated for inclusion in Asset Pool One shall be transferred to the Trust and designated for inclusion in Asset Pool One, as applicable, on or before the thirtieth Business Day following such Determination Date (such date, in connection with the addition of Additional Asset Pool One Accounts or one or more Additional Asset Pool One Collateral Certificates, the “Addition Date” and in connection with the increase of an existing Asset Pool One Collateral Certificate, the “Increase Date”); provided, however, that in the event of a Servicer Rating Event, any such Addition Date or Increase Date shall be on or before the tenth Business Day following such Determination Date. The failure of the Transferor to increase the Asset Pool One Transferor Amount or the Asset Pool One Pool Balance as provided in this clause (i) solely as a result of the unavailability to the Transferor of a sufficient amount of Additional Asset Pool One Accounts and/or any Additional Asset Pool One Collateral Certificates and/or the inability to increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates shall not constitute a breach of this Asset Pool One Supplement or the Transfer and Servicing Agreement; provided that any such failure which has not been timely cured may nevertheless result in the occurrence of an Early Amortization Event.

Appears in 4 contracts

Samples: Indenture (Chase Issuance Trust), Indenture (Chase Issuance Trust), Indenture

AutoNDA by SimpleDocs

Required Additions. (i) If, (A) as determined on any Determination Date, the Asset Pool One Transferor Amount for the prior Monthly Period is less than the Asset Pool One Required Transferor Amount for such prior Monthly Period, the Issuing Entity Transferor shall (1) designate Receivables in additional Accounts to be transferred to the Trust (each, an “Additional Account”) for inclusion in designation pursuant to the Asset Pool OneOne Supplement, (2) designate one or more additional Collateral Certificates for inclusion in Asset Pool One to be transferred to the Trust (each, an “Additional Asset Pool One Collateral Certificate”) for designation pursuant to the Asset Pool One Supplement or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust pursuant to Section 2.3 2.11 in a sufficient amount such that, after giving effect to such addition or increase, the Asset Pool One Transferor Amount for the prior Monthly Period would have been at least equal to the Asset Pool One Required Transferor Amount for such prior Monthly Period, or (B) as determined on any Determination Date, the Asset Pool One Pool Balance for the prior Monthly Period is less than the Asset Pool One Minimum Pool Balance for such prior Monthly Period, the Issuing Entity Transferor shall (1) designate Receivables in Additional Accounts to be transferred to the Trust for designation pursuant to the Asset Pool One Accounts for inclusion in Asset Pool OneSupplement, (2) designate one or more Additional Collateral Certificates to be transferred to the Trust for designation pursuant to the Asset Pool One Collateral Certificates for inclusion in Asset Pool One Supplement or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust pursuant to Section 2.3 2.11 in a sufficient amount such that, after giving effect to such addition or increase, the Asset Pool One Pool Balance would have been at least equal to or greater than the Asset Pool One Minimum Pool Balance for such the prior Monthly Period; provided, however, that in the event of a Servicer Rating Event, the Asset Pool One Transferor Amount and the Asset Pool One Pool Balance will be determined on a daily basis in accordance with a method to be determined by the TransferorServicer, subject to satisfaction of the Note Rating Agency Condition. Any increase in the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust shall occur and/or designation of Receivables in any Additional Asset Pool One Accounts and/or one or more any Additional Asset Pool One Collateral Certificates to be transferred to the Trust and designated for inclusion in designation to Asset Pool One shall be transferred to the Trust and designated for inclusion in Asset Pool One, as applicable, One on or before the thirtieth Business Day following such Determination Date (such date, in connection with the addition of Additional Asset Pool One Accounts or one or more Additional Asset Pool One Collateral Certificates, the “Addition Date” and in connection with the increase of an existing Asset Pool One a Collateral CertificateCertificate previously conveyed to the Trust, the “Increase Date”); provided, however, that in the event of a Servicer Rating Event, any such Addition Date or Increase Date shall be on or before the tenth Business Day following such Determination Date. The failure of the Transferor to increase the Asset Pool One Balance or the Transferor Amount or the Asset Pool One Pool Balance as provided in this clause (i) solely as a result of the unavailability to the Transferor of a sufficient amount of Additional Asset Pool One Accounts and/or any Additional Asset Pool One Collateral Certificates and/or the inability to increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust shall not constitute a breach of this Asset Pool One Supplement or the Transfer and Servicing Agreement; provided that any such failure which has not been timely cured may nevertheless result in the occurrence of an Early Amortization Event.

Appears in 3 contracts

Samples: Transfer and Servicing Agreement (Chase Card Funding LLC), Transfer and Servicing Agreement (Chase Issuance Trust), Transfer and Servicing Agreement (Chase Issuance Trust)

Required Additions. (i) If, (A) as determined on any Determination Date, the Transferor Amount for an Asset Pool One Transferor Amount for the prior Monthly Period is less than the Asset Pool One Required Transferor Amount for such Asset Pool for such prior Monthly Period, the Issuing Entity applicable Transferor shall (1) designate Receivables in additional Accounts to be transferred to the Trust (each, an "Additional Account") for inclusion in designation pursuant to the applicable Asset Pool OneSupplement, (2) designate one or more additional Collateral Certificates for inclusion in Asset Pool One to be transferred to the Trust (each, an "Additional Collateral Certificate") for designation pursuant to the applicable Asset Pool One Collateral Certificate”) Supplement or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates pursuant to Section 2.3 2.10 or Section 2.11 in a sufficient amount such that, after giving effect to such addition or increase, the Transferor Amount for such Asset Pool One Transferor Amount for the prior Monthly Period would have been at least equal to the Asset Pool One Required Transferor Amount for such Asset Pool for such prior Monthly Period, or (B) as determined on any Determination Date, the Pool Balance for such Asset Pool One Pool Balance for the prior Monthly Period is less than the Asset Pool One Minimum Pool Balance for such Asset Pool for such prior Monthly Period, the Issuing Entity applicable Transferor shall (1) designate Receivables in Additional Accounts to be transferred to the Trust for designation pursuant to the applicable Asset Pool One Accounts for inclusion in Asset Pool OneSupplement, (2) designate one or more Additional Collateral Certificates to be transferred to the Trust for designation pursuant to the applicable Asset Pool One Collateral Certificates for inclusion in Asset Pool One Supplement or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates pursuant to Section 2.3 2.10 or Section 2.11 in a sufficient amount such that, after giving effect to such addition or increase, the Pool Balance for the applicable Asset Pool One Pool Balance would have been at least equal to or greater than the Asset Pool One Minimum Pool Balance for such Asset Pool for the prior Monthly Period; provided, however, that in the event of a Servicer Rating Event, the Asset Pool One Transferor Amount and the Pool Balance for an Asset Pool One Pool Balance will be determined on a daily basis in accordance with a method to be determined by the TransferorServicer, subject to satisfaction of the Note Rating Agency Condition. Any increase in the Invested Amount of one or more existing Asset Pool One Collateral Certificates shall occur and/or designation of Receivables in any Additional Asset Pool One Accounts and/or one or more any Additional Asset Pool One Collateral Certificates to be transferred to the Trust and designated for inclusion in designation to a particular Asset Pool One shall be transferred to the Trust and designated for inclusion in such Asset Pool One, as applicable, on or before the thirtieth Business Day following such Determination Date (such date, in connection with the addition of Additional Asset Pool One Accounts or one or more Additional Asset Pool One Collateral Certificates, the "Addition Date" and in connection with the increase of an existing Asset Pool One Collateral Certificate, the "Increase Date"); provided, however, that in the event of a Servicer Rating Event, any such Addition Date or Increase Date shall be on or before the tenth Business Day Date following such Determination Date. The failure of the applicable Transferor to increase the Pool Balance or the Transferor Amount for the applicable Asset Pool One Transferor Amount or the Asset Pool One Pool Balance as provided in this clause (i) solely as a result of the unavailability to the applicable Transferor of a sufficient amount of Additional Asset Pool One Accounts and/or any Additional Asset Pool One Collateral Certificates and/or the inability to increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates shall not constitute a breach of this Asset Pool One Supplement or the Transfer and Servicing Agreement; provided that any such failure which has not been timely cured may nevertheless result in the occurrence of an Early Amortization Event.

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (Bank One Delaware National Association), Transfer and Servicing Agreement (First Usa Credit Card Master Trust)

Required Additions. (i) If, (A) as determined on any Determination Date, the Asset Pool One Transferor Amount for the prior Monthly Period is less than the Asset Pool One Required Transferor Amount for such prior Monthly Period, the Issuing Entity Issuer shall (1) designate Receivables in additional Accounts for inclusion in Asset Pool OneOne (each, an "Additional Asset Pool One Account"), (2) designate one or more additional Additional Collateral Certificates for inclusion in Asset Pool One (each, an "Additional Asset Pool One Collateral Certificate") or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates pursuant to Section 2.2 or Section 2.3 in a sufficient amount such that, after giving effect to such addition or increase, the Asset Pool One Transferor Amount for the prior Monthly Period would have been at least equal to the Asset Pool One Required Transferor Amount for such prior Monthly Period, or (B) as determined on any Determination Date, the Asset Pool One Pool Balance for the prior Monthly Period is less than the Asset Pool One Minimum Pool Balance for such prior Monthly Period, the Issuing Entity Issuer shall (1) designate Receivables in Additional Asset Pool One Accounts for inclusion in Asset Pool One, (2) designate one or more Additional Asset Pool One Collateral Certificates for inclusion in Asset Pool One or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates pursuant to Section 2.2 or Section 2.3 in a sufficient amount such that, after giving effect to such addition or increase, the Asset Pool One Pool Balance would have been equal to or greater than the Asset Pool One Minimum Pool Balance for such prior Monthly Period; provided, however, that in the event of a Servicer Rating Event, the Asset Pool One Transferor Amount and the Asset Pool One Pool Balance will be determined on a daily basis in accordance with a method to be determined by the Transferor, subject to satisfaction of the Note Rating Agency Condition. Any increase in the Invested Amount of one or more existing Asset Pool One Collateral Certificates shall occur and/or designation of Receivables in any Additional Asset Pool One Accounts and/or one or more any Additional Asset Pool One Collateral Certificates to be transferred to the Trust and designated for inclusion in Asset Pool One shall be transferred to the Trust and designated for inclusion in Asset Pool One, as applicable, on or before the thirtieth Business Day following such Determination Date (such date, in connection with the addition of Additional Asset Pool One Accounts or one or more Additional Asset Pool One Collateral Certificates, the "Addition Date" and in connection with the increase of an existing Asset Pool One Collateral Certificate, the "Increase Date"); provided, however, that in the event of a Servicer Rating Event, any such Addition Date or Increase Date shall be on or before the tenth Business Day following such Determination Date. The failure of the any Transferor to increase the Asset Pool One Transferor Amount or the Asset Pool One Pool Balance as provided in this clause (i) solely as a result of the unavailability to the such Transferor of a sufficient amount of Additional Asset Pool One Accounts and/or any Additional Asset Pool One Collateral Certificates and/or the inability to increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates shall not constitute a breach of this Asset Pool One Supplement or the Transfer and Servicing Agreement; provided that any such failure which has not been timely cured may nevertheless result in the occurrence of an Early Amortization Event.

Appears in 2 contracts

Samples: Indenture (Bank One Delaware National Association), Indenture (First Usa Credit Card Master Trust)

Required Additions. (i) If, (A) as determined on any Determination Date, the Transferor Amount for an Asset Pool One Transferor Amount for the prior Monthly Period is less than the Asset Pool One Required Transferor Amount for such Asset Pool for such prior Monthly Period, the Issuing Entity applicable Transferor shall (1) designate Receivables in additional Accounts to be transferred to the Trust (each, an “Additional Account”) for inclusion in designation pursuant to the applicable Asset Pool OneSupplement, (2) designate one or more additional Collateral Certificates for inclusion in Asset Pool One to be transferred to the Trust (each, an “Additional Asset Pool One Collateral Certificate”) for designation pursuant to the applicable Asset Pool Supplement or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust pursuant to Section 2.3 2.11 in a sufficient amount such that, after giving effect to such addition or increase, the Transferor Amount for such Asset Pool One Transferor Amount for the prior Monthly Period would have been at least equal to the Asset Pool One Required Transferor Amount for such Asset Pool for such prior Monthly Period, or (B) as determined on any Determination Date, the Pool Balance for such Asset Pool One Pool Balance for the prior Monthly Period is less than the Asset Pool One Minimum Pool Balance for such Asset Pool for such prior Monthly Period, the Issuing Entity applicable Transferor shall (1) designate Receivables in Additional Accounts to be transferred to the Trust for designation pursuant to the applicable Asset Pool One Accounts for inclusion in Asset Pool OneSupplement, (2) designate one or more Additional Collateral Certificates to be transferred to the Trust for designation pursuant to the applicable Asset Pool One Collateral Certificates for inclusion in Asset Pool One Supplement or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust pursuant to Section 2.3 2.11 in a sufficient amount such that, after giving effect to such addition or increase, the Pool Balance for the applicable Asset Pool One Pool Balance would have been at least equal to or greater than the Asset Pool One Minimum Pool Balance for such Asset Pool for the prior Monthly Period; provided, however, that in the event of a Servicer Rating Event, the Asset Pool One Transferor Amount and the Pool Balance for an Asset Pool One Pool Balance will be determined on a daily basis in accordance with a method to be determined by the TransferorServicer, subject to satisfaction of the Note Rating Agency Condition. Any increase in the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust shall occur and/or designation of Receivables in any Additional Asset Pool One Accounts and/or one or more any Additional Asset Pool One Collateral Certificates to be transferred to the Trust and designated for inclusion in designation to a particular Asset Pool One shall be transferred to the Trust and designated for inclusion in such Asset Pool One, as applicable, on or before the thirtieth Business Day following such Determination Date (such date, in connection with the addition of Additional Asset Pool One Accounts or one or more Additional Asset Pool One Collateral Certificates, the “Addition Date” and in connection with the increase of an existing Asset Pool One a Collateral CertificateCertificate previously conveyed to the Trust, the “Increase Date”); provided, however, that in the event of a Servicer Rating Event, any such Addition Date or Increase Date shall be on or before the tenth Business Day following such Determination Date. The failure of the applicable Transferor to increase the Pool Balance or the Transferor Amount for the applicable Asset Pool One Transferor Amount or the Asset Pool One Pool Balance as provided in this clause (i) solely as a result of the unavailability to the applicable Transferor of a sufficient amount of Additional Asset Pool One Accounts and/or any Additional Asset Pool One Collateral Certificates and/or the inability to increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust shall not constitute a breach of this Asset Pool One Supplement or the Transfer and Servicing Agreement; provided that any such failure which has not been timely cured may nevertheless result in the occurrence of an Early Amortization Event.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (First Usa Credit Card Master Trust)

Required Additions. (i) If, (A) as determined on any Determination Date, the Transferor Amount for an Asset Pool One Transferor Amount for the prior Monthly Period is less than the Asset Pool One Required Transferor Amount for such Asset Pool for such prior Monthly Period, the Issuing Entity applicable Transferor shall (1) designate Receivables in additional Accounts to be transferred to the Trust (each, an "Additional Account") for inclusion in designation pursuant to the applicable Asset Pool OneSupplement, (2) designate one or more additional Collateral Certificates for inclusion in Asset Pool One to be transferred to the Trust (each, an "Additional Collateral Certificate") for designation pursuant to the applicable Asset Pool One Collateral Certificate”) Supplement or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust pursuant to Section 2.3 2.11 in a sufficient amount such that, after giving effect to such addition or increase, the Transferor Amount for such Asset Pool One Transferor Amount for the prior Monthly Period would have been at least equal to the Asset Pool One Required Transferor Amount for such Asset Pool for such prior Monthly Period, or (B) as determined on any Determination Date, the Pool Balance for such Asset Pool One Pool Balance for the prior Monthly Period is less than the Asset Pool One Minimum Pool Balance for such Asset Pool for such prior Monthly Period, the Issuing Entity applicable Transferor shall (1) designate Receivables in Additional Accounts to be transferred to the Trust for designation pursuant to the applicable Asset Pool One Accounts for inclusion in Asset Pool OneSupplement, (2) designate one or more Additional Collateral Certificates to be transferred to the Trust for designation pursuant to the applicable Asset Pool One Collateral Certificates for inclusion in Asset Pool One Supplement or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust pursuant to Section 2.3 2.11 in a sufficient amount such that, after giving effect to such addition or increase, the Pool Balance for the applicable Asset Pool One Pool Balance would have been at least equal to or greater than the Asset Pool One Minimum Pool Balance for such Asset Pool for the prior Monthly Period; provided, however, that in the event of a Servicer Rating Event, the Asset Pool One Transferor Amount and the Pool Balance for an Asset Pool One Pool Balance will be determined on a daily basis in accordance with a method to be determined by the TransferorServicer, subject to satisfaction of the Note Rating Agency Condition. Any increase in the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust shall occur and/or designation of Receivables in any Additional Asset Pool One Accounts and/or one or more any Additional Asset Pool One Collateral Certificates to be transferred to the Trust and designated for inclusion in designation to a particular Asset Pool One shall be transferred to the Trust and designated for inclusion in such Asset Pool One, as applicable, on or before the thirtieth Business Day following such Determination Date (such date, in connection with the addition of Additional Asset Pool One Accounts or one or more Additional Asset Pool One Collateral Certificates, the "Addition Date" and in connection with the increase of an existing Asset Pool One a Collateral CertificateCertificate previously conveyed to the Trust, the "Increase Date"); provided, however, that in the event of a Servicer Rating Event, any such Addition Date or Increase Date shall be on or before the tenth Business Day Date following such Determination Date. The failure of the applicable Transferor to increase the Pool Balance or the Transferor Amount for the applicable Asset Pool One Transferor Amount or the Asset Pool One Pool Balance as provided in this clause (i) solely as a result of the unavailability to the applicable Transferor of a sufficient amount of Additional Asset Pool One Accounts and/or any Additional Asset Pool One Collateral Certificates and/or the inability to increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust shall not constitute a breach of this Asset Pool One Supplement or the Transfer and Servicing Agreement; provided that any such failure which has not been timely cured may nevertheless result in the occurrence of an Early Amortization Event.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Chase Manhattan Bank Usa)

AutoNDA by SimpleDocs

Required Additions. (i) If, (A) as determined on any Determination Date, the Asset Pool One Transferor Amount for the prior Monthly Period is less than the Asset Pool One Required Transferor Amount for such prior Monthly Period, the Issuing Entity shall (1) designate Receivables in additional Accounts for inclusion in Asset Pool OneOne (each, an “Additional Asset Pool One Account”), (2) designate one or more additional Additional Collateral Certificates for inclusion in Asset Pool One (each, an “Additional Asset Pool One Collateral Certificate”) or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates pursuant to Section 2.3 in a sufficient amount such that, after giving effect to such addition or increase, the Asset Pool One Transferor Amount for the prior Monthly Period would have been at least equal to the Asset Pool One Required Transferor Amount for such prior Monthly Period, or (B) as determined on any Determination Date, the Asset Pool One Pool Balance for the prior Monthly Period is less than the Asset Pool One Minimum Pool Balance for such prior Monthly Period, the Issuing Entity shall (1) designate Receivables in Additional Asset Pool One Accounts for inclusion in Asset Pool One, (2) designate one or more Additional Asset Pool One Collateral Certificates for inclusion in Asset Pool One or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates pursuant to Section 2.3 in a sufficient amount such that, after giving effect to such addition or increase, the Asset Pool One Pool Balance would have been equal to or greater than the Asset Pool One Minimum Pool Balance for such prior Monthly Period; provided, however, that in the event of a Servicer Rating Event, the Asset Pool One Transferor Amount and the Asset Pool One Pool Balance will be determined on a daily basis in accordance with a method to be determined by the Transferor, subject to satisfaction of the Note Rating Agency Condition. Any increase in the Invested Amount of one or more existing Asset Pool One Collateral Certificates shall occur and/or designation of Receivables in any Additional Asset Pool One Accounts and/or one or more any Additional Asset Pool One Collateral Certificates to be transferred to the Trust and designated for inclusion in Asset Pool One shall be transferred to the Trust and designated for inclusion in Asset Pool One, as applicable, on or before the thirtieth Business Day following such Determination Date (such date, in connection with the addition of Additional Asset Pool One Accounts or one or more Additional Asset Pool One Collateral Certificates, the “Addition Date” and in connection with the increase of an existing Asset Pool One Collateral Certificate, the “Increase Date”); provided, however, that in the event of a Servicer Rating Event, any such Addition Date or Increase Date shall be on or before the tenth Business Day following such Determination Date. The failure of the any Transferor to increase the Asset Pool One Transferor Amount or the Asset Pool One Pool Balance as provided in this clause (i) solely as a result of the unavailability to the such Transferor of a sufficient amount of Additional Asset Pool One Accounts and/or any Additional Asset Pool One Collateral Certificates and/or the inability to increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates shall not constitute a breach of this Asset Pool One Supplement or the Transfer and Servicing Agreement; provided that any such failure which has not been timely cured may nevertheless result in the occurrence of an Early Amortization Event.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (First Usa Credit Card Master Trust)

Required Additions. (i) If, (A) as determined on any Determination Date, the Transferor Amount for an Asset Pool One Transferor Amount for the prior Monthly Period is less than the Asset Pool One Required Transferor Amount for such Asset Pool for such prior Monthly Period, the Issuing Entity applicable Transferor shall (1) designate Receivables in additional Accounts to be transferred to the Trust (each, an “Additional Account”) for inclusion in designation pursuant to the applicable Asset Pool OneSupplement, (2) designate one or more additional Collateral Certificates for inclusion in Asset Pool One to be transferred to the Trust (each, an “Additional Asset Pool One Collateral Certificate”) for designation pursuant to the applicable Asset Pool Supplement or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust pursuant to Section 2.3 2.11 in a sufficient amount such that, after giving effect to such addition or increase, the Transferor Amount for such Asset Pool One Transferor Amount for the prior Monthly Period would have been at least equal to the Asset Pool One Required Transferor Amount for such Asset Pool for such prior Monthly Period, or (B) as determined on any Determination Date, the Pool Balance for such Asset Pool One Pool Balance for the prior Monthly Period is less than the Asset Pool One Minimum Pool Balance for such Asset Pool for such prior Monthly Period, the Issuing Entity applicable Transferor shall (1) designate Receivables in Additional Accounts to be transferred to the Trust for designation pursuant to the applicable Asset Pool One Accounts for inclusion in Asset Pool OneSupplement, (2) designate one or more Additional Collateral Certificates to be transferred to the Trust for designation pursuant to the applicable Asset Pool One Collateral Certificates for inclusion in Asset Pool One Supplement or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust pursuant to Section 2.3 2.11 in a sufficient amount such that, after giving effect to such addition or increase, the Pool Balance for the applicable Asset Pool One Pool Balance would have been at least equal to or greater than the Asset Pool One Minimum Pool Balance for such Asset Pool for the prior Monthly Period; provided, however, that in the event of a Servicer Rating Event, the Asset Pool One Transferor Amount and the Pool Balance for an Asset Pool One Pool Balance will be determined on a daily basis in accordance with a method to be determined by the TransferorServicer, subject to satisfaction of the Note Rating Agency Condition. Any increase in the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust shall occur and/or designation of Receivables in any Additional Asset Pool One Accounts and/or one or more any Additional Asset Pool One Collateral Certificates to be transferred to the Trust and designated for inclusion in designation to a particular Asset Pool One shall be transferred to the Trust and designated for inclusion in such Asset Pool One, as applicable, on or before the thirtieth Business Day following such Determination Date (such date, in connection with the addition of Additional Asset Pool One Accounts or one or more Additional Asset Pool One Collateral Certificates, the “Addition Date” and in connection with the increase of an existing Asset Pool One a Collateral CertificateCertificate previously conveyed to the Trust, the “Increase Date”); provided, however, that in the event of a Servicer Rating Event, any such Addition Date or Increase Date shall be on or before the tenth Business Day Date following such Determination Date. The failure of the applicable Transferor to increase the Pool Balance or the Transferor Amount for the applicable Asset Pool One Transferor Amount or the Asset Pool One Pool Balance as provided in this clause (i) solely as a result of the unavailability to the applicable Transferor of a sufficient amount of Additional Asset Pool One Accounts and/or any Additional Asset Pool One Collateral Certificates and/or the inability to increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates previously conveyed to the Trust shall not constitute a breach of this Asset Pool One Supplement or the Transfer and Servicing Agreement; provided that any such failure which has not been timely cured may nevertheless result in the occurrence of an Early Amortization Event.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (First Usa Credit Card Master Trust)

Required Additions. (i) If, (A) as determined on any Determination Date, the Transferor Amount for an Asset Pool One Transferor Amount for the prior Monthly Period is less than the Asset Pool One Required Transferor Amount for such Asset Pool for such prior Monthly Period, the Issuing Entity applicable Transferor shall (1) designate Receivables in additional Accounts to be transferred to the Trust (each, an "ADDITIONAL ACCOUNT") for inclusion in designation pursuant to the applicable Asset Pool OneSupplement, (2) designate one or more additional Collateral Certificates for inclusion in Asset Pool One to be transferred to the Trust (each, an “Additional "ADDITIONAL COLLATERAL CERTIFICATE") for designation pursuant to the applicable Asset Pool One Collateral Certificate”) Supplement or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates pursuant to Section 2.3 2.10 or Section 2.11 in a sufficient amount such that, after giving effect to such addition or increase, the Transferor Amount for such Asset Pool One Transferor Amount for the prior Monthly Period would have been at least equal to the Asset Pool One Required Transferor Amount for such Asset Pool for such prior Monthly Period, or (B) as determined on any Determination Date, the Pool Balance for such Asset Pool One Pool Balance for the prior Monthly Period is less than the Asset Pool One Minimum Pool Balance for such Asset Pool for such prior Monthly Period, the Issuing Entity applicable Transferor shall (1) designate Receivables in Additional Accounts to be transferred to the Trust for designation pursuant to the applicable Asset Pool One Accounts for inclusion in Asset Pool OneSupplement, (2) designate one or more Additional Collateral Certificates to be transferred to the Trust for designation pursuant to the applicable Asset Pool One Collateral Certificates for inclusion in Asset Pool One Supplement or (3) increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates pursuant to Section 2.3 2.10 or Section 2.11 in a sufficient amount such that, after giving effect to such addition or increase, the Pool Balance for the applicable Asset Pool One Pool Balance would have been at least equal to or greater than the Asset Pool One Minimum Pool Balance for such Asset Pool for the prior Monthly Period; providedPROVIDED, howeverHOWEVER, that in the event of a Servicer Rating Event, the Asset Pool One Transferor Amount and the Pool Balance for an Asset Pool One Pool Balance will be determined on a daily basis in accordance with a method to be determined by the TransferorServicer, subject to satisfaction of the Note Rating Agency Condition. Any increase in the Invested Amount of one or more existing Asset Pool One Collateral Certificates shall occur and/or designation of Receivables in any Additional Asset Pool One Accounts and/or one or more any Additional Asset Pool One Collateral Certificates to be transferred to the Trust and designated for inclusion in designation to a particular Asset Pool One shall be transferred to the Trust and designated for inclusion in such Asset Pool One, as applicable, on or before the thirtieth Business Day following such Determination Date (such date, in connection with the addition of Additional Asset Pool One Accounts or one or more Additional Asset Pool One Collateral Certificates, the “Addition Date” "ADDITION DATE" and in connection with the increase of an existing Asset Pool One Collateral Certificate, the “Increase Date”"INCREASE DATE"); providedPROVIDED, howeverHOWEVER, that in the event of a Servicer Rating Event, any such Addition Date or Increase Date shall be on or before the tenth Business Day Date following such Determination Date. The failure of the applicable Transferor to increase the Pool Balance or the Transferor Amount for the applicable Asset Pool One Transferor Amount or the Asset Pool One Pool Balance as provided in this clause (i) solely as a result of the unavailability to the applicable Transferor of a sufficient amount of Additional Asset Pool One Accounts and/or any Additional Asset Pool One Collateral Certificates and/or the inability to increase the Invested Amount of one or more existing Asset Pool One Collateral Certificates shall not constitute a breach of this Asset Pool One Supplement or the Transfer and Servicing Agreement; provided PROVIDED that any such failure which has not been timely cured may nevertheless result in the occurrence of an Early Amortization Event.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (First Usa Credit Card Master Trust)

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