Unallocated Principal Collections definition

Unallocated Principal Collections shall have the meaning specified in subsection 4.05(d).

Unallocated Principal Collections. Any Collections in respect of Principal Receivables or Finance Charge Receivables not allocated and paid to the Holder of the Seller Certificate because of the limitations contained in subsections 4.05(a)(iv)(B), 4.05(b)(iv)(B) and 4.05(c)(ii)(B) and any amounts allocable to the Investor Certificates deposited in the Principal Account pursuant to subsections 2.04(d)(iii) and 4.03(c) ("Unallocated Principal Collections") shall be held in the Principal Account and, prior to the commencement of the Controlled Accumulation Period or the Rapid Amortization Period shall be paid to the Holder of the Seller Certificate when, and only to the extent that, the Seller Interest is greater than zero. For each Transfer Date with respect to the Controlled Accumulation Period or the Rapid Amortization Period, any such Unallocated Principal Collections held in the Principal Account on such Transfer Date shall be included in the Investor Principal Collections which to the extent available shall be distributed as Available Investor Principal Collections to be applied pursuant to Section 4.09 on such Transfer Date. With respect to the Investor Certificates, and notwithstanding anything in the Agreement or this Series Supplement to the contrary, whether or not the Servicer is required to make monthly or daily deposits from the Collection Account into the Finance Charge Account or the Principal Account pursuant to subsections 4.05(a), 4.05(b) and 4.05(c), with respect to any Monthly Period (i) the Servicer will only be required to deposit Collections from the Collection Account into the Finance Charge Account or the Principal Account up to the required amount to be deposited into any such deposit account or, without duplication, distributed on or prior to the related Distribution Date to the Investor Certificateholders and (ii) if at any time prior to such Distribution Date the amount of Collections deposited in the Collection Account exceeds the amount required to be deposited pursuant to clause (i) above, the Servicer will be permitted to withdraw the excess from the Collection Account.

Unallocated Principal Collections is defined in subsection 4.7(d).

Examples of Unallocated Principal Collections in a sentence

• For each Transfer Date with respect to the Controlled Accumulation Period or the Rapid Amortization Period, any such Unallocated Principal Collections held in the Principal Account on such Transfer Date shall be included in the Investor Principal Collections which to the extent available shall be distributed as Available Investor Principal Collections to be applied pursuant to Section 4.09 on such Transfer Date.

• For each Transfer Date with respect to the Controlled Accumulation Period, the Rapid Accumulation Period or the Rapid Amortization Period, any such Unallocated Principal Collections held in the Principal Account on such Transfer Date shall be included in the Investor Principal Collections which to the extent available shall be distributed as Available Investor Principal Collections to be applied pursuant to Section 4.09 on such Transfer Date.

• Unallocated Principal Collections............$ 0.00 ------------- R.

• For each Transfer Date with respect to any Note Accumulation Period (as defined in the Indenture), any such Unallocated Principal Collections held in the Principal Account on such Transfer Date shall be included in the Investor Principal Collections which to the extent available shall be distributed as Available Investor Principal Collections to be applied pursuant to Section 4.06 on such Transfer Date.

• Excess Principal Collections and Unallocated Principal Collections.

More Definitions of Unallocated Principal Collections

Unallocated Principal Collections has the meaning set forth in Section 11.02(d).

Unallocated Principal Collections is defined in Section 4.7(c).

Unallocated Principal Collections means any amounts collected in respect of principal receivables that are allocable to, but not paid to, MBNA because the Seller Interest is less than the Minimum Seller Interest.

Unallocated Principal Collections has the meaning specified in subsection 3.01(b).

Unallocated Principal Collections shall have the meaning specified in Section 4.3 of the Trust Sale and Servicing Agreement.

Unallocated Principal Collections means, with respect to any Monthly Allocation Date, the principal portion of any Transferor Amounts that are not paid to the Transferor on such Monthly Allocation Date pursuant to the 1998-C Securitization Trust Agreement because the Transferor Interest is less than or equal to zero. Such amounts will be retained in the 1998-C SUBI Collection Account until (a) applied to cover the Class A-1 Notional Interest Accrual Amount, the Class A-2 Notional Interest Accrual Amount, the Class A-3 Notional Interest Accrual Amount, any Class A-1 Swap Interest Shortfall Amount, any Class A-2 Swap Interest Shortfall Amount, any Class A-3 Swap Interest Shortfall Amount, any Class B Notional Interest Accrual Amount, any Class B Swap Interest Shortfall Amount, or any Loss Amounts or Certificate Principal Loss Amounts allocable to the Adjusted Class A-1 Certificate Balance, the Adjusted Class A-2 Certificate Balance, the Adjusted Class A-3 Certificate Balance or the Adjusted Class B Certificate Balance, (b) the Adjusted Class A-1 Certificate Balance, Adjusted Class A-2 Certificate Balance, the Adjusted Class A-3 Certificate Balance and Adjusted Class B Certificate Balance have been reduced to zero (in which case such amounts will be released to the Transferor) or (c) the Transferor Interest again exceeds zero (in which case such amounts will again be releasable as Transferor Amounts).

Unallocated Principal Collections shall have the meaning specified --------------------------------- in Section 4.03(c). "unamortized annual membership fees" shall have the meaning specified ---------------------------------- in Section 3.04(d).