Required Subordinated Percentage of Class D Notes definition

Required Subordinated Percentage of Class D Notes means, for the Class A(2015-1) Notes, 15.894040%, subject to adjustment in accordance with Section 2.02.
Required Subordinated Percentage of Class D Notes means, for the Class A(2007-1) Notes, 15.894040%, subject to adjustment in accordance with Section 2.02; provided, however, that prior to the Class Expected Final Payment Date for Series 2009-SD, the Required Subordinated Percentage of Class D Notes for the Class A(2007-1) Notes will be 13.636364%, subject to adjustment in accordance with Section 2.02.
Required Subordinated Percentage of Class D Notes means, for the Class A(2005-8) Notes, 1.8462%, subject to adjustment in accordance with Section 2.02.

Examples of Required Subordinated Percentage of Class D Notes in a sentence

On any date, the Issuer may, at the direction of the Beneficiary, change the Required Subordinated Percentage of Class D Notes (Unencumbered) for the Class C(2020-2) Notes, without the consent of any Noteholders; provided that the Issuer has received written confirmation from each applicable Note Rating Agency that the change in such percentage will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes.

On any date, the Issuer may, at the direction of the Beneficiary, change the Required Subordinated Percentage of Class D Notes (Unencumbered) for the Class C(2020-1) Notes, without the consent of any Noteholders; provided that the Issuer has received written confirmation from each applicable Note Rating Agency that the change in such percentage will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes.

On any date, the Issuer may, at the direction of the Beneficiary, change the Required Subordinated Percentage of Class D Notes (Unencumbered) for the Class C( - ) Notes, without the consent of any Noteholders; provided that the Issuer has received written confirmation from each applicable Note Rating Agency that the change in such percentage will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes.

On any date, the Issuer may, at the direction of the Beneficiary, change the Required Subordinated Percentage of Class D Notes (Unencumbered) for the Class C(2016-1) Notes, without the consent of any Noteholders; provided that the Issuer has received written confirmation from each applicable Note Rating Agency that the change in such percentage will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes.

On any date, the Issuer may, at the direction of the Beneficiary, change the Required Subordinated Percentage of Class D Notes (Unencumbered) for the Class C(2012-2) Notes, without the consent of any Noteholders; provided that the Issuer has received written confirmation from each applicable Note Rating Agency that the change in such percentage will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes.


More Definitions of Required Subordinated Percentage of Class D Notes

Required Subordinated Percentage of Class D Notes means, for any Tranche of Class A Notes, the Required Subordinated Percentage of Class D Notes set forth in the Terms Document for such Tranche, and for any Tranche of Class B Notes or Class C Notes, the Required Subordinated Percentage of Class D Notes (Unencumbered) specified in the Terms Document for such Tranche; provided, however, that if the Required Subordinated Percentage of Class D Notes or the Required Subordinated Percentage of Class D Notes (Unencumbered), as applicable, is not set forth in the Terms Document for any Tranche, such percentage shall be deemed to be zero.
Required Subordinated Percentage of Class D Notes means, for the Class A( - ) Notes, [ ]%, subject to adjustment in accordance with Section 2.02. [“Reuters Screen LIBOR01” means the display page currently so designated on the Reuters Screen (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices).]
Required Subordinated Percentage of Class D Notes means, for the Class A(2002-_) Notes, ___%, subject to adjustment in accordance with Section 2.02.
Required Subordinated Percentage of Class D Notes means, for the Class A( - ) Notes, [ ]%, subject to adjustment in accordance with Section 2.02[; provided, however, that prior to the Class Expected Final Payment Date for Series 2009-SD, the Required Subordinated Percentage of Class D Notes for the Class A( - ) Notes will be [ ]%, subject to adjustment in accordance with Section 2.02]. [“Reuters Screen LIBOR01” means the display page currently so designated on the Reuters Screen (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices).] [“Series 2009-SD Supplement” means the Series 2009-SD Series Supplement to the Pooling and Servicing Agreement dated as of September 23, 2009, by and between Discover Bank as Master Servicer, Servicer and Seller and U.S. Bank National Association as Trustee, as the same may be amended, supplemented, restated, amended and restated, replaced or otherwise modified from time to time.]