Subordinate Series definition

Subordinate Series means any Series which is subordinated in right of payment, in whole or in part, pursuant to the Series Supplement with respect to such Series, to the Series established hereby. "Supplemental Credit Enhancement Amount," if applicable, shall have the meaning set forth in the Series Term Sheet.

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Subordinate Series means any Series that is subordinated in right of payment, in whole or in part, pursuant to the Series Supplement with respect to such Series, to the Series established hereby. "Substitute Index," if applicable, shall have the meaning specified in Section 13. "Substitute Index Determination Date," if applicable, shall have the meaning set forth in the Series Term Sheet.

Subordinate Series means any Series which is subordinated in right of payment, in whole or in part, pursuant to the Series Supplement with respect to such Series, to the Series established hereby. "Supplemental Credit Enhancement Amount," if applicable, shall have the meaning set forth in the Series Term Sheet. "Supplemental Credit Enhancement Event" shall occur the first time the long-term debt or deposit rating of Discover Bank or any Additional Seller is withdrawn or reduced below BBB- by Standard & Poor's.

Examples of Subordinate Series in a sentence

• If any Subordinate Series is issued, such Subordinate Series shall be subordinate in right of payment to the Series established hereby only to the extent set forth in the Series Supplement with respect to such Subordinate Series.

• If applicable, an amount equal to the lesser of (A) the Class B Modified Required Amount Shortfall and (B) funds, if any, available to pay such Class B Modified Required Amount Shortfall from funds initially allocated to any Subordinate Series shall be deposited into the Series Distribution Account.

• If applicable, an amount equal to the lesser of (A) the Class C Modified Required Amount Shortfall and (B) funds, if any, available to pay such Class C Modified Required Amount Shortfall from funds initially allocated to any Subordinate Series shall be deposited into the Series Distribution Account.

• If applicable, an amount equal to the lesser of (A) the Class A Modified Required Amount Shortfall and (B) funds, if any, available to pay such Class A Modified Required Amount Shortfall from funds initially allocated to any Subordinate Series shall be deposited into the Series Distribution Account.

• One or more other Series, however, may be subordinated in right of payment to the Series established hereby, although the Seller shall have no obligation to issue such a Subordinate Series.

• One or more other Series, however, may be subordinated in right of payment to the Series established hereby, although the Sellers shall have no obligation to issue such a Subordinate Series.

• If applicable, an amount equal to the lesser of (A) the Class A Cumulative Investor Charged-Off Amount and (B) funds, if any, available to pay such Class A Cumulative Investor Charged-Off Amount from funds initially allocated to any Subordinate Series shall be deposited into the Series Principal Collections Account.

• If applicable, an amount equal to the lesser of (A) the Class C Cumulative Investor Charged-Off Amount and (B) funds, if any, available to pay such Class C Cumulative Investor Charged-Off Amount from funds initially allocated to any Subordinate Series shall be deposited into the Series Principal Collections Account.

• If applicable, an amount equal to the lesser of (A) the Class B Cumulative Investor Charged-Off Amount and (B) funds, if any, available to pay such Class B Cumulative Investor Charged-Off Amount from funds initially allocated to any Subordinate Series shall be deposited into the Series Principal Collections Account.

• If applicable, an amount equal to the lesser of (A) the Class B Cumulative Investor Charged-Off Amount and (B) funds, if any, available to pay such Class B Cumulative Investor Charged-Off Amount from funds initially allocated to any Subordinate Series shall be deposited into the Group Principal Collections Reallocation Account.

More Definitions of Subordinate Series

Subordinate Series. Any Series of Subordinate Notes issued pursuant to a Supplement.

Subordinate Series means any Series that is subordinated in right of payment, in whole or in part, pursuant to the Series Supplement with respect to such Series, to the Series established hereby.

Subordinate Series means any Series that is designated as subordinated in the related Series Supplement.