Examples of Discover Bank in a sentence
The undersigned is a Servicing Officer of Discover Bank as Master Servicer.
Discover Bank (formerly Greenwood Trust Company) is Master Servicer under the Pooling and Servicing Agreement.
If the Principal Receivables in the Trust are less than the Minimum Principal Receivables Balance, and Discover Bank fails to assign sufficient Receivables to eliminate the deficiency, then an amortization event would occur.
Funds remaining after reallocation are distributed to Discover Bank for general use in its regular course of business.
Discover Bank is Master Servicer under the Pooling and Servicing Agreement.
If the Principal Receivables in the Master Trust are less than the Minimum Principal Receivables Balance, and Discover Bank fails to assign sufficient Receivables to eliminate the deficiency, then an amortization event would occur.
The Sponsor intends to satisfy this obligation by maintaining a seller’s interest in the Master Trust, calculated in accordance with Regulation RR, that will equal not less than 5% of the aggregate unpaid principal balance of all DiscoverSeries notes, other than any notes that are at all times held by Discover Bank or one or more wholly-owned affiliates of Discover Bank ("adjusted outstanding investor ABS interests").
Funds remaining after reallocation are distributed to Discover Bank for its general use in its regular course of business.
The data presented differs from the data reported by the Discover Card Master Trust I and, through the collateral certificate, the Discover Card Execution Note Trust (collectively, the “Trusts”), Discover Funding LLC and Discover Bank in their monthly Form 10-D reports filed with the Securities and Exchange Commission which reflects only credit card loans that have been securitized through the Trusts.
In accordance with the credit risk retention rules of Regulation RR, Discover Bank, as Sponsor, is required to retain an economic interest in the credit risk of the Master Trust receivables.