Swaps. (a) On or prior to the Closing Date, the Issuer shall enter into a Class A Swap with the Class A Counterparty, a Class B Swap with the Class B Counterparty and a Class C Swap with the Class C Counterparty for the benefit of the Class A Noteholders, the Class B Noteholders and the Class C Noteholders, respectively. The aggregate notional amount under the Class A Swap shall, at any time, be equal to the Class A Note Principal Balance at such time. The aggregate notional amount under the Class B Swap shall, at any time, be equal to the Class B Note Principal Balance at such time. The aggregate notional amount under the Class C Swap shall, at any time, be equal to the Class C Note Principal Balance. Net Swap Receipts payable by the Class A Counterparty, the Class B Counterparty or the Class C Counterparty shall be deposited by the Indenture Trustee in the Collection Account on the day received and treated as Available Finance Charge Collections. On any Distribution Date when there shall be a Class A Net Swap Payment, such Class A Net Swap Payment shall be paid as provided in subsection 4.4(a)(i). On any Distribution Date when there shall be a Class B Net Swap Payment, such Class B Net Swap Payment shall be paid as provided in subsection 4.4(a)(ii). On any Distribution Date when there shall be a Class C Net Swap Payment, such Class C Net Swap Payment shall be paid as provided in subsection 4.4(a)(iv). On any Distribution Date when there shall be early termination payments or any other miscellaneous payments payable by the Issuer to the Counterparties, such amounts shall be paid as provided in subsection 4.4(a)(x).
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (World Financial Network Credit Card Master Trust), WFN Credit Co LLC
Swaps. (a) On or prior to the Closing Date, the Issuer shall enter into a Class A Swap with the Class A Counterparty, a Class B Swap with the Class B Counterparty and a Class C Swap with the Class C Counterparty for the benefit of the Class A Noteholders, the Class B Noteholders and the Class C Noteholders, respectively. The aggregate notional amount under the Class A Swap shall, at any time, be equal to the Class A Note Principal Balance at such time. The aggregate notional amount under the Class B Swap shall, at any time, be equal to the Class B Note Principal Balance at such time. The aggregate notional amount under the Class C Swap shall, at any time, be equal to the Class C Note Principal Balance. Net Swap Receipts payable by the Class A Counterparty, The Issuer shall cause the Class B Counterparty or the Class C Counterparty shall be deposited by the Indenture Trustee to deposit Net Swap Receipts payable in the Collection Account on the day received and treated as Available Finance Charge CollectionsAccount. On any Distribution Date when there shall be a Class A Net Swap Payment, such Class A Net Swap Payment shall be paid as provided in subsection 4.4(a)(i). On any Distribution Date when there shall be a Class B Net Swap Payment, the Issuer shall pay such Class B Net Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(iiSection 4.4(a)(iv). On any Distribution Payment Date when there shall be a Class C Net Swap Payment, the Issuer shall pay such Class C Net Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(ivSection 4.4(a)(v). On any Distribution Payment Date when there shall be early termination payments or any other miscellaneous payments payable by the Issuer to the Counterparties, the Issuer shall pay such amounts shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(xSection 4.4(a)(xi).
Appears in 2 contracts
Samples: GE Capital Credit Card Master Note Trust, RFS Holding LLC
Swaps. (a) On or prior to the Closing Date, the Issuer shall enter into a Class A Swap with the Class A Counterparty, a Class B Swap with the Class B Counterparty and a Class C Swap with the Class C Counterparty for the benefit of the Class A Noteholders, the Class B Noteholders and the Class C Noteholders, respectively. The aggregate notional amount under the Class A Swap shall, at any time, be equal to the Class A Note Principal Balance at such time. The aggregate notional amount under the Class B Swap shall, at any time, be equal to the Class B Note Principal Balance at such time. The aggregate notional amount under the Class C Swap shall, at any time, be equal to the Class C Note Principal Balance. Net Swap Receipts payable by The Issuer shall cause the Class A Counterparty, the Class B Counterparty or the Class C Counterparty shall be deposited by the Indenture Trustee to deposit Net Swap Receipts payable in the Collection Account on the day received and treated as Available Finance Charge CollectionsAccount. On any Distribution Payment Date when there shall be a Class A Net Senior Swap Payment, the Issuer shall pay such Class A Net Senior Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(iSection 4.4(a)(iii). On any Distribution Payment Date when there shall be a Class B Net Senior Swap Payment, the Issuer shall pay such Class B Net Senior Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(iiSection 4.4(a)(iv). On any Distribution Payment Date when there shall be a Class C Net Senior Swap Payment, the Issuer shall pay such Class C Net Senior Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(ivSection 4.4(a)(v). On any Distribution Payment Date when there shall be early termination payments Subordinated Termination Payments or any other miscellaneous payments payable by the Issuer to the Counterparties, the Issuer shall pay such amounts shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(xSections 4.4(a)(xi), (xii) and (xiii).
Appears in 2 contracts
Samples: GE Capital Credit Card Master Note Trust, GE Capital Credit Card Master Note Trust
Swaps. (a) On or prior to the Closing Date, the Issuer shall enter into a Class A Swap with the Class A Counterparty, a Class B Swap with the Class B Counterparty and a Class C Swap with the Class C Counterparty for the benefit of the Class A Noteholders, the Class B Noteholders and the Class C Noteholders, respectively. The aggregate notional amount under the Class A Swap shall, at any time, be equal to the Class A Note Principal Balance at such time. The aggregate notional amount under the Class B Swap shall, at any time, be equal to the Class B Note Principal Balance at such time. The aggregate notional amount under the Class C Swap shall, at any time, be equal to the Class C Note Principal Balance. Net Swap Receipts payable by the Class A Counterparty, the Class B Counterparty or the Class C Counterparty shall be deposited by the Indenture Trustee in the Collection Account on the day received and treated as Available Finance Charge Collections. On any Distribution Date when there shall be a Class A Net Swap Payment, such Class A Net Swap Payment shall be paid as provided in subsection SUBSECTION 4.4(a)(i). On any Distribution Date when there shall be a Class B Net Swap Payment, such Class B Net Swap Payment shall be paid as provided in subsection SUBSECTION 4.4(a)(ii). On any Distribution Date when there shall be a Class C Net Swap Payment, such Class C Net Swap Payment shall be paid as provided in subsection SUBSECTION 4.4(a)(iv). On any Distribution Date when there shall be early termination payments or any other miscellaneous payments payable by the Issuer to the Counterparties, such amounts shall be paid as provided in subsection SUBSECTION 4.4(a)(x).
Appears in 1 contract
Samples: Transfer and Servicing Agreement (World Financial Network Credit Card Master Trust)
Swaps. (a) On or prior to the Closing Date, the Issuer shall enter into a Class A Swap with the Class A Counterparty, a Class B Swap with the Class B Counterparty and a Class C Swap with the Class C Counterparty for the benefit of the Class A Noteholders, the Class B Noteholders and the Class C Noteholders, respectively. The aggregate notional amount under the Class A Swap shall, at any time, be equal to the Class A Note Principal Balance at such time. The aggregate notional amount under the Class B Swap shall, at any time, be equal to the Class B Note Principal Balance at such time. The aggregate notional amount under the Class C Swap shall, at any time, be equal to the Class C Note Principal Balance. Net Swap Receipts payable by The Issuer shall cause the Class A Counterparty, the Class B Counterparty or the Class C Counterparty shall be deposited by the Indenture Trustee to deposit Net Swap Receipts payable in the Collection Account on the day received and treated as Available Finance Charge CollectionsAccount. On any Distribution Payment Date when there shall be a Class A Net Senior Swap Payment, the Issuer shall pay such Class A Net Senior Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(iSection 4.4(a)(iii). On any Distribution Date when there shall be a Class B Net Swap Payment, such Class B Net Swap Payment shall be paid as provided in subsection 4.4(a)(ii). On any Distribution Date when there shall be a Class C Net Senior Swap Payment, the Issuer shall pay such Class C Net Senior Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(ivSection 4.4(a)(v). On any Distribution Payment Date when there shall be early termination payments Subordinated Termination Payments or any other miscellaneous payments payable by the Issuer to the Counterparties, the Issuer shall pay such amounts shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(xSections 4.4(a)(xi) and (xii).
Appears in 1 contract
Swaps. (a) On or prior to the Closing Date, the Issuer shall enter into a Class A Swap with the Class A Counterparty, a Class M Swap with the Class M Counterparty and a Class B Swap with the Class B Counterparty and a Class C Swap with the Class C Counterparty for the benefit of the Class A Noteholders, the Class B M Noteholders and the Class C B Noteholders, respectively. The aggregate notional amount under the Class A Swap shall, at any time, be equal to the Class A Note Principal Balance at such time. The aggregate notional amount under the Class M Swap shall, at any time, be equal to the Class M Note Principal Balance at such time. The aggregate notional amount under the Class B Swap shall, at any time, be equal to the Class B Note Principal Balance at such time. The aggregate notional amount under the Class C Swap shall, at any time, be equal to the Class C Note Principal Balance. Net Swap Receipts payable by the Class A Counterparty, the Class B M Counterparty or the Class C B Counterparty shall be deposited by the Indenture Trustee in the Collection Account on the day received and treated as Available Finance Charge Collections. On any Distribution Date when there shall be a Class A Net Swap Payment, such Class A Net Swap Payment shall be paid as provided in subsection 4.4(a)(i). On any Distribution Date when there shall be a Class B M Net Swap Payment, such Class B M Net Swap Payment shall be paid as provided in subsection 4.4(a)(ii). On any Distribution Date when there shall be a Class C B Net Swap Payment, such Class C B Net Swap Payment shall be paid as provided in subsection 4.4(a)(iv4.4(a)(iii). On any Distribution Date when there shall be early termination payments or any other miscellaneous payments payable by the Issuer to the Counterparties, such amounts shall be paid as provided in subsection 4.4(a)(x4.4(a)(xi).
Appears in 1 contract
Samples: WFN Credit Co LLC
Swaps. (a) On or prior to the Closing Date, the Issuer shall enter into a Class A Swap with the Class A Counterparty, a Class B Swap with the Class B Counterparty and a Class C Swap with the Class C Counterparty for the benefit of the Class A Noteholders, the Class B Noteholders and the Class C Noteholders, respectively. The aggregate notional amount under the Class A Swap shall, at any time, be equal to the Class A Note Principal Balance at such time. The aggregate notional amount under the Class B Swap shall, at any time, be equal to the Class B Note Principal Balance at such time. The aggregate notional amount under the Class C Swap shall, at any time, be equal to the Class C Note Principal Balance. Net Swap Receipts payable by The Issuer shall cause the Class A Counterparty, the Class B Counterparty or the Class C Counterparty shall be deposited by the Indenture Trustee to deposit Net Swap Receipts payable in the Collection Account on the day received and treated as Available Finance Charge CollectionsAccount. On any Distribution Payment Date when there shall be a Class A Net Swap Payment, the Issuer shall pay such Class A Net Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(iSection 4.4(a)(iii). On any Distribution Payment Date when there shall be a Class B Net Swap Payment, the Issuer shall pay such Class B Net Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(iiSection 4.4(a)(iv). On any Distribution Payment Date when there shall be a Class C Net Swap Payment, the Issuer shall pay such Class C Net Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(ivSection 4.4(a)(v). On any Distribution Payment Date when there shall be early termination payments or any other miscellaneous payments payable by the Issuer to the Counterparties, the Issuer shall pay such amounts shall be paid as provided subject to the priority of payments set forth in subsection Section 4.4(a)(x).
Appears in 1 contract
Swaps. (a) On or prior to the Closing Date, the Issuer shall enter into a Class A A-1 Swap with the Class A Counterparty, a Class B Swap with the Class B A-1 Counterparty and a Class C Swap with the Class C Counterparty for the benefit of the Class A Noteholders, the Class B A-1 Noteholders and the Class C Noteholders, respectively. The aggregate notional amount under the Class A A-1 Swap shall, at any time, be equal to the Class A Note Principal Balance at such time. The aggregate notional amount under the Class B Swap shall, at any time, be equal to the Class B A-1 Note Principal Balance at such time. The aggregate notional amount under the Class C Swap shall, at any time, be equal to the Class C Note Principal Balance. Net Swap Receipts payable by The Issuer shall cause the Class A Counterparty, the Class B A-1 Counterparty or the Class C Counterparty shall be deposited by the Indenture Trustee to deposit Net Swap Receipts payable in the Collection Account on the day received and treated as Available Finance Charge CollectionsAccount. On any Distribution Payment Date when there shall be a Class A Net A-1 Senior Swap Payment, the Issuer shall pay such Class A Net A-1 Senior Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(iSection 4.4(a)(iii). On any Distribution Date when there shall be a Class B Net Swap Payment, such Class B Net Swap Payment shall be paid as provided in subsection 4.4(a)(ii). On any Distribution Date when there shall be a Class C Net Senior Swap Payment, the Issuer shall pay such Class C Net Senior Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(ivSection 4.4(a)(v). On any Distribution Payment Date when there shall be early termination payments Subordinated Termination Payments or any other miscellaneous payments payable by the Issuer to the Counterparties, the Issuer shall pay such amounts shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(xSections 4.4(a)(xi), (xii) and (xiii).
Appears in 1 contract
Samples: RFS Holding LLC
Swaps. (a) On or prior to the Closing Date, the Issuer shall enter into a Class A Swap with the Class A Counterparty, a Class B Swap with the Class B Counterparty and a Class C Swap with the Class C Counterparty for the benefit of the Class A Noteholders, the Class B Noteholders and the Class C Noteholders, respectively. The aggregate notional amount under the Class A Swap shall, at any time, be equal to the Class A Note Principal Balance at such time. The aggregate notional amount under the Class B Swap shall, at any time, be equal to the Class B Note Principal Balance at such time. The aggregate notional amount under the Class C Swap shall, at any time, be equal to the Class C Note Principal Balance. Net Swap Receipts payable by The Issuer shall cause the Class A Counterparty, the Class B Counterparty or the Class C Counterparty shall be deposited by the Indenture Trustee to deposit Net Swap Receipts payable in the Collection Account on the day received and treated as Available Finance Charge CollectionsAccount. On any Distribution Payment Date when there shall be a Class A Net Swap Payment, the Issuer shall pay such Class A Net Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(iSection 4.4(a)(iii). On any Distribution Payment Date when there shall be a Class B Net Swap Payment, the Issuer shall pay such Class B Net Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(iiSection 4.4(a)(iv). On any Distribution Payment Date when there shall be a Class C Net Swap Payment, the Issuer shall pay such Class C Net Swap Payment shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(ivSection 4.4(a)(v). On any Distribution Payment Date when there shall be early termination payments or any other miscellaneous payments payable by the Issuer to the Counterparties, the Issuer shall pay such amounts shall be paid as provided subject to the priority of payments set forth in subsection 4.4(a)(xSection 4.4(a)(xi).
Appears in 1 contract
Samples: RFS Holding LLC
Swaps. (a) On or prior to the Closing Date, the Issuer shall enter into a Class A Swap with the Class A Counterparty, a Class M Swap with the Class M Counterparty, the Class B Swap with the Class B Counterparty and a Class C Swap with the Class C Counterparty for the benefit of the Class A Noteholders, the Class M Noteholders, the Class B Noteholders and the Class C Noteholders, respectively. The aggregate notional amount under the Class A Swap shall, at any time, be equal to the Class A Note Principal Balance at such time. The aggregate notional amount under the Class M Swap shall, at any time, be equal to the Class M Note Principal Balance at such time. The aggregate notional amount under the Class B Swap shall, at any time, be equal to the Class B Note Principal Balance at such time. The aggregate notional amount under the Class C Swap shall, at any time, be equal to the Class C Note Principal Balance. Net Swap Receipts payable by the Class A Counterparty, the Class M Counterparty, the Class B Counterparty or the Class C Counterparty shall be deposited by the Indenture Trustee in the Collection Account on the day received and treated as Available Finance Charge Collections. On any Distribution Date when there shall be a Class A Net Swap Payment, such Class A Net Swap Payment shall be paid as provided in subsection 4.4(a)(i). On any Distribution Date when there shall be a Class M Net Swap Payment, such Class M Net Swap Payment shall be paid as provided in subsection 4.4(a)(ii). On any Distribution Date when there shall be a Class B Net Swap Payment, such Class B Net Swap Payment shall be paid as provided in subsection 4.4(a)(ii4.4(a)(iii). On any Distribution Date when there shall be a Class C Net Swap Payment, such Class C Net Swap Payment shall be paid as provided in subsection 4.4(a)(iv4.4(a)(v). On any Distribution Date when there shall be early termination payments or any other miscellaneous payments payable by the Issuer to the Counterparties, such amounts shall be paid as provided in subsection 4.4(a)(x4.4(a)(xii).
Appears in 1 contract
Samples: Alliance Data Systems Corp