Common use of Allocation Percentage Clause in Contracts

Allocation Percentage. On each Distribution Date, the Transferor shall pay to the Servicer, and the Servicer shall deposit into the Collection Account, in immediately available funds, the amount of Interchange to be so included as Series 1998-2 Allocable Finance Charge Collections with respect to the preceding Monthly Period and such Interchange shall be treated as a portion of Series 1998-2 Allocable Finance Charge Collections for all purposes of this Supplement and the Agreement. Notwithstanding the above, if the Rating Agency Condition is satisfied with respect thereto, the Transferor may, in lieu of transferring Interchange as set forth above, designate Discount Option Receivables pursuant to Section 2.12 of the Agreement in an amount approximately equal to the then current Interchange with respect to the Accounts. ARTICLE IV Rights of Series 1998-2 Securityholders and Allocation and Application of Collections Section 4.1.

Allocation Percentage. On each Distribution Date, the Transferor shall pay to the Servicer, and the Servicer shall deposit into the Collection Account, in immediately available funds, the amount of Interchange to be so included as Series 1998-2 3 Allocable Finance Charge Collections with respect to the preceding Monthly Period and such Interchange shall be treated as a portion of Series 1998-2 3 Allocable Finance Charge Collections for all purposes of this Supplement and the Agreement. Notwithstanding the above, if the Rating Agency Condition is satisfied with respect thereto, the Transferor may, in lieu of transferring Interchange as set forth above, designate Discount Option Receivables pursuant to Section 2.12 of the Agreement in an amount approximately equal to the then current Interchange with respect to the Accounts. ARTICLE IV Rights of Series 1998-2 3 Securityholders and Allocation and Application of Collections Section 4.1.