Interchange. The Seller receives Interchange Fees from financial institutions for clearing transactions arising under the Accounts and as compensation for assuming credit risk and funding receivables for a limited period of time prior to initial billing. The Seller will Transfer to the Custodian on a daily basis the Interchange Fees, representing the aggregate amount of fees paid or payable to the Seller on such day in respect of all Visa Accounts, Mastercard Accounts and other Specified Account Designation Accounts from other financial institutions that clear such credit card transactions for merchants after netting or set-off occurs. The Seller may, from time to time, in its sole discretion, voluntarily increase or decrease the rate used to calculate amounts receivable or payable in respect of Interchange Fees. The Account Assets include the then applicable Interchange Fees.
Interchange. The Engineer shall be responsible for the complete design of the mainlanes and ramps, auxiiliary lanes and direct connectors, and managed lanes as shown on the schematic. The State will provide the structural details of the direct connectors interchange or the State may request the Engineer to provide the structural details of the direct connectors interchange. The interchange design must be consistent with the schematic design and must include a plan and profile of the thoroughfares, intersection layout, drainage structures, sidewalks, geometrics, signalization, turnaround details, and transitions to existing roadway. The Engineer shall include the structural details of the direct connectors interchange with the PS&E submittal.
Interchange. On or prior to each Determination Date, the Transferor shall notify the Servicer of the amount of Interchange to be included as Collections of Finance Charge Receivables with respect to the preceding Monthly Period, which shall be equal to the amount of Interchange paid to the Transferor pursuant to the Receivables Purchase Agreements with respect to such Monthly Period.
Interchange. On or prior to the third Business Day following the end of each Monthly Period, each Account Owner shall notify the Servicer and Chase Card Funding of the Interchange Amount, if any, which is required to be included as Finance Charge Collections with respect to the preceding Monthly Period. On the First Note Transfer Date following the applicable Monthly Period, each Account Owner shall pay to the Servicer and the Servicer shall deposit into the Collection Account, in immediately available funds, the Interchange Amount to be so included as Finance Charge Collections with respect to the preceding Monthly Period; provided, however, that such deposit needs to be made only to the extent that such funds are required to be retained in the applicable Bank Accounts for the benefit of any Series, Class or Tranche of Notes pursuant to the provisions of Article III of the Transfer and Servicing Agreement, the Asset Pool One Supplement or the related Indenture Supplement and any such amount that is not so deposited shall be paid to Chase Card Funding.
Interchange. On or prior to the second Business Day following the end of each Monthly Period, each Account Owner shall notify the Servicer of the Interchange Amount, if any, which is required to be included as Finance Charge Collections with respect to the preceding Monthly Period. On the First Note Transfer Date following the applicable Monthly Period, each Account Owner shall pay to the Servicer and the Servicer shall deposit into the Collection Account, in immediately available funds, the Interchange Amount to be so included as Finance Charge Collections with respect to the preceding Monthly Period; provided, however, that such deposit need be made only to the extent that such funds are required to be retained in the applicable Bank Accounts for the benefit of any Series, Class or Tranche of Notes pursuant to the provisions of this Article III of this Agreement, any applicable Asset Pool Supplement or any applicable Indenture Supplement and any such amount that is not so deposited shall be paid to the applicable Transferor. [END OF ARTICLE III]
Interchange. The term ‘‘interchange’’—
Interchange. On or prior to each Determination Date, the Sellers shall notify the Servicer of the amount of Interchange to be included as Collections of Finance Charge Receivables with respect to the preceding Due Period, which shall be equal to (i) the amount of Interchange paid or payable to Citibank with respect to such Due Period multiplied by a fraction, the numerator of which is the aggregate amount of cardholder charges for goods and services in the Accounts maintained by Citibank with respect to such Due Period and the denominator of which is the aggregate amount of cardholder charges for goods and services in all the “MasterCard,” “VISA” and “American Express” revolving credit card accounts and all other types of revolving credit card accounts included as Accounts (except as otherwise provided in the Assignment with respect to any such other types of Accounts), in each case maintained by Citibank with respect to such Due Period and (ii) the amount of Interchange paid or payable to each Additional Seller or other Account Owner with respect to such Due Period calculated in the manner described in clause (i). Not later than 12:00 noon, New York City time, on each Distribution Date, the Sellers shall deposit into the Collection Account in immediately available funds the amount of Interchange to be so included as Collections of Finance Charge Receivables with respect to the preceding Due Period.
Interchange. On or prior to each Determination Date, RPA Seller shall notify Servicer of the amount of Interchange to be included as Collections of Finance Charge Receivables allocable to the Accounts with respect to the Related Monthly Period (“Account Interchange Amount”), which amount shall be equal to the product of:
Interchange. The Engineer shall be responsible for the complete design of the mainlanes and ramps, auxiiliary lanes and direct connectors, and managed lanes as shown on the schematic. DocuSign Envelope ID: EE5D87D9-3666-4B03-B13F-724FBCE94AAD The State will provide the structural details of the direct connectors interchange or the State may request the Engineer to provide the structural details of the direct connectors interchange. The interchange design must be consistent with the schematic design and must include a plan and profile of the thoroughfares, intersection layout, drainage structures, sidewalks, geometrics, signalization, turnaround details, and transitions to existing roadway. The Engineer shall include the structural details of the direct connectors interchange with the PS&E submittal.
Interchange. The Transfer of Equipment from Owner to User, or vice versa, or between the User and a third party.
