PAYMENT OF INTEREST ON THE LOAN. On each Distribution Date, the Trustee as administrator of the Credit Enhancement shall pay or cause to be paid to the Credit Enhancement Provider the amount of accrued but unpaid interest on the Loan from the funds and in the order of priority set forth below; provided, however, that such payments shall not exceed the amount of accrued but unpaid interest on the Loan and that such payments will be made only to the extent such funds are available:
Appears in 89 contracts
Samples: Credit Enhancement Agreement (Discover Card Master Trust I), Credit Enhancement Agreement (Discover Bank), Credit Enhancement Agreement (Discover Bank)
PAYMENT OF INTEREST ON THE LOAN. On each Distribution Date, the Trustee as administrator of the Credit Enhancement shall pay or cause to be paid to the Credit Enhancement Provider the amount of accrued but unpaid interest on the Loan from the funds and in the order of priority set forth below; provided, however, that such payments shall not exceed the amount of accrued but unpaid interest on the Loan and that such payments will be made only to the extent such funds are available:exceed
Appears in 1 contract
Samples: Credit Enhancement Agreement (Discover Card Master Trust I)
PAYMENT OF INTEREST ON THE LOAN. On each Distribution Date, the Trustee as administrator of the Credit Enhancement shall pay or cause to be paid to the Credit Enhancement Provider the amount of accrued but unpaid interest on the Loan from the funds and in the order of priority set forth below; provided, however, that such payments shall not exceed the amount of accrued but unpaid interest on the Loan and that such payments will be made only to the extent such funds are available:and
Appears in 1 contract
Samples: Credit Enhancement Agreement (Discover Card Master Trust I)