Controlled Accumulation Period. The Controlled Accumulation ------------------------------ Period is scheduled to commence at the opening of business March 1, 2004. However, if the Accumulation Period Length (determined as described below) is less than 12 months, the date on which the Controlled Accumulation Period actually commences will be delayed to the first Business Day of the month that is the number of whole months prior to the Expected Principal Distribution Date at least equal to the Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date, and each Determination Date thereafter until the Controlled Accumulation Period begins, the Servicer will determine the Accumulation Period Length" which will equal the number of whole months such --------------------------- that the sum of the Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length will not be determined to -------- ------- be less than one month; provided further, however, that the determination of the -------- ------- ------- Accumulation Period Length may be changed at any time if the Rating Agency Condition is satisfied.
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Controlled Accumulation Period. The Controlled Accumulation ------------------------------ Period is scheduled to commence at the opening beginning of business March on April 1, 2004. However, 2012; provided that if the Controlled Accumulation Period Length (determined as described below) on any Determination Date on or after the March 2012 Determination Date is less than 12 months, upon written notice to the Indenture Trustee, Transferor and, each Rating Agency, Servicer shall postpone the date on which the Controlled Accumulation Period actually commences will be delayed to the first Business Day of the month so that is the number of whole months prior to the Expected Principal Distribution Date at least equal to the Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date, and each Determination Date thereafter until the Controlled Accumulation Period begins, Length; provided that (i) the Servicer will determine length of the Controlled Accumulation Period Length" which will equal the number of whole months such --------------------------- that the sum of the Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length will not be determined to -------- ------- be less than one month; provided further, however, that the (ii) such determination of the -------- ------- ------- Controlled Accumulation Period Length may shall be changed at made on each Determination Date on and after the March 2012 Determination Date but prior to the commencement of the Controlled Accumulation Period, and any time if postponement of the Rating Agency Condition is satisfied.Controlled Accumulation Period shall be subject to the subsequent lengthening of the Controlled Accumulation Period to the Controlled Accumulation Period Length determined on any
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Controlled Accumulation Period. The Controlled ------------------------------ Accumulation ------------------------------ Period is scheduled to commence at the opening of business March 1, 2004. However, if the Accumulation Period Length (determined as described below) is less than 12 months, the date on which the Controlled Accumulation Period actually commences will be delayed to the first Business Day of the month that is the number of whole months prior to the Expected Principal Distribution Date at least equal to the Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date, and each Determination Date thereafter until the Controlled Accumulation Period begins, the Servicer will determine the "Accumulation Period Length" which will equal the number of whole months -------------------------- such --------------------------- that the sum of the Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length will -------- ------- not be determined to -------- ------- be less than one month; provided further, however, -------- ------- ------- that the determination of the -------- ------- ------- Accumulation Period Length may be changed at any time if the Rating Agency Condition is satisfied.
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Sources: Indenture Supplement (Spiegel Inc)
Controlled Accumulation Period. The Controlled Accumulation ------------------------------ Period is scheduled to commence at the opening beginning of business March on November 1, 2004. However, 2010; provided that if the Controlled Accumulation Period Length (determined as described below) on any Determination Date on or after the October 2010 Determination Date is less than 12 months, upon written notice to the Indenture Trustee, Transferor and, each Rating Agency, Servicer shall postpone the date on which the Controlled Accumulation Period actually commences will be delayed to the first Business Day of the month so that is the number of whole months prior to the Expected Principal Distribution Date at least equal to the Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date, and each Determination Date thereafter until the Controlled Accumulation Period begins, Length; provided that (i) the Servicer will determine length of the Controlled Accumulation Period Length" which will equal the number of whole months such --------------------------- that the sum of the Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length will not be determined to -------- ------- be less than one month; provided further, however, that the (ii) such determination of the -------- ------- ------- Controlled Accumulation Period Length may shall be changed at made on each Determination Date on and after the October 2010 Determination Date but prior to the commencement of the Controlled Accumulation Period, and any time if postponement of the Rating Agency Condition is satisfied.Controlled Accumulation Period shall be subject to the subsequent lengthening of the Controlled Accumulation Period to the Controlled Accumulation Period Length determined on any subsequent Determination Date, but the Controlled Accumulation
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Controlled Accumulation Period. The Controlled Accumulation ------------------------------ Period is scheduled to commence at the opening beginning of business March on October 1, 2004. However, 2009; provided that if the Controlled Accumulation Period Length (determined as described below) on any Determination Date on or after the September 2009 Determination Date is less than 12 9 months, upon written notice to the Indenture Trustee, Transferor and, each Rating Agency, Servicer shall postpone the date on which the Controlled Accumulation Period actually commences will be delayed to the first Business Day of the month so that is the number of whole months prior to the Expected Principal Distribution Date at least equal to the Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date, and each Determination Date thereafter until the Controlled Accumulation Period begins, Length; provided that (i) the Servicer will determine length of the Controlled Accumulation Period Length" which will equal the number of whole months such --------------------------- that the sum of the Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length will not be determined to -------- ------- be less than one month; provided further, however, that the (ii) such determination of the -------- ------- ------- Controlled Accumulation Period Length may shall be changed at made on each Determination Date on and after the September 2009 Determination Date but prior to the commencement of the Controlled Accumulation Period, and any time if postponement of the Rating Agency Condition is satisfied.Controlled Accumulation Period shall be subject to the subsequent lengthening of the Controlled Accumulation Period to the Controlled Accumulation Period Length determined on any subsequent Determination Date, but the Controlled Accumulation Period shall in no event commence prior to the Controlled Accumulation Date, and (iii) notwithstanding any other provision of this Indenture Supplement to the contrary, no postponement of the Controlled
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Controlled Accumulation Period. The Controlled Accumulation ------------------------------ Period is scheduled to commence at the opening beginning of business March on June 1, 2004. However, 2014; provided that if the Controlled Accumulation Period Length (determined as described below) on any Determination Date on or after the May 2014 Determination Date is less than 12 months, upon written notice to the Indenture Trustee, Transferor and, each Rating Agency, Servicer shall postpone the date on which the Controlled Accumulation Period actually commences will be delayed to the first Business Day of the month so that is the number of whole months prior to the Expected Principal Distribution Date at least equal to the Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date, and each Determination Date thereafter until the Controlled Accumulation Period begins, Length; provided that (i) the Servicer will determine length of the Controlled Accumulation Period Length" which will equal the number of whole months such --------------------------- that the sum of the Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length will not be determined to -------- ------- be less than one month; provided further, however, that the (ii) such determination of the -------- ------- ------- Controlled Accumulation Period Length may shall be changed at made on each Determination Date on and after the May 2014 Determination Date but prior to the commencement of the Controlled Accumulation Period, and any time if postponement of the Rating Agency Condition is satisfied.Controlled Accumulation Period shall be subject to the subsequent lengthening of the Controlled Accumulation Period to the Controlled Accumulation Period Length determined on any subsequent Determination Date, but the Controlled Accumulation Period shall in no event commence prior to the Controlled Accumulation Date, and (iii) notwithstanding any other provision of this Indenture Supplement to the contrary, no postponement of the Controlled
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Controlled Accumulation Period. The Controlled Accumulation ------------------------------ Period is scheduled to commence at the opening of business March 1, 2004. However, if the Accumulation Period Length (determined as described below) is less than 12 months, the date on which the Controlled Accumulation Period actually commences will be delayed to the first Business Day of the month that is the number of whole months prior to the Expected Principal Distribution Date at least equal to the Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date, and each Determination Date thereafter until the Controlled Accumulation Period begins, the Servicer will determine the "Accumulation Period Length" which will equal the number of whole months such --------------------------- that the sum of the Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length will not be determined to -------- ------- be less than one month; provided further, however, that the determination of the -------- ------- ------- Accumulation Period Length may be changed at any time if the Rating Agency Condition is satisfied.
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Sources: Indenture Supplement (Spiegel Inc)
Controlled Accumulation Period. The Controlled Accumulation ------------------------------ Period is scheduled to commence at the opening beginning of business March 1on [●] [●], 2004. However, 20[●]; provided that if the Controlled Accumulation Period Length (determined as described below) on any Determination Date on or after the [●] [●] Determination Date is less than 12 [●] months, upon written notice to the Indenture Trustee, Transferor and each Rating Agency, Servicer shall postpone the date on which the Controlled Accumulation Period actually commences will be delayed to the first Business Day of the month so that is the number of whole months prior to the Expected Principal Distribution Date at least equal to the Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Accumulation Period Length. On the Determination Date immediately preceding the February 2004 Distribution Date, and each Determination Date thereafter until the Controlled Accumulation Period begins, Length; provided that (i) the Servicer will determine length of the Controlled Accumulation Period Length" which will equal the number of whole months such --------------------------- that the sum of the Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length will not be determined to -------- ------- be less than one month; provided further, however, that the (ii) such determination of the -------- ------- ------- Controlled Accumulation Period Length may shall be changed at made on each Determination Date on and after the [●] [●] Determination Date but prior to the commencement of the Controlled Accumulation Period, and any time if postponement of the Rating Agency Condition is satisfied.Controlled Accumulation Period shall be subject to the subsequent lengthening of the Controlled Accumulation Period to the Controlled Accumulation Period Length determined on any subsequent Determination Date,
Appears in 1 contract
Sources: Indenture Supplement (World Financial Network Credit Card Master Trust)
Controlled Accumulation Period. The Controlled Accumulation ------------------------------ Period is scheduled to commence at the opening close of business March 1on [_____ __, 200420__]. However, if the Accumulation Period Length (determined as described below) is less than 12 months, the date on which the Controlled Accumulation Period actually commences will be delayed to the first Business Day of the month that is the number of whole months prior to the Expected Principal Distribution Date at least equal to the Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Accumulation Period Length. On the Determination Date immediately preceding the February 2004 [_____ ____] Distribution Date, and each Determination Date thereafter until the Controlled Accumulation Period begins, the Servicer will determine the "Accumulation Period Length" which will equal the number of whole months such --------------------------- -------------------------- that the sum of the Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length -------- ------- will not be determined to -------- ------- be less than one month; provided further, however, ---------------- ------- that the determination of the -------- ------- ------- Accumulation Period Length may be changed at any time if the Rating Agency Condition is satisfied.
Appears in 1 contract
Sources: Indenture Supplement (First Consumers Master Trust)