Common use of Selection of Asset Tranches Clause in Contracts

Selection of Asset Tranches. The Administrator shall, from time to time for purposes of computing Earned Discount, divide the Asset Interest into Asset Tranches. The applicable Earned Discount Rate may be different for each Asset Tranche. The total Invested Amount shall be allocated to the Asset Tranches by the Administrator, on the Purchaser's behalf, to reflect the funding sources for the Asset Interest such that the total amount of the Purchaser's Tranche Investments of such Asset Tranches shall equal the Invested Amount, and so that: (a) there will be an Asset Tranche with a Purchaser's Tranche Investment equal to the excess of the Invested Amount over the aggregate amount allocated at such time pursuant to clause (b) below, which Asset Tranche shall reflect the portion of the Asset Interest funded by Commercial Paper Notes; and (b) there will be one or more Asset Tranches, each with such Purchaser's Tranche Investments selected by the Administrator, on the Purchaser's behalf, reflecting the portion or portions of the Asset Interest funded by outstanding Liquidity Fundings (if any).

Selection of Asset Tranches. The Administrator Each Purchaser Agent shall, from time to time for purposes of computing Earned DiscountDiscount and CP Costs, divide the Asset Interest into Asset Tranches. The applicable Earned Discount Rate or CP Rate, as the case may be, and the maturity may be different for each Asset Tranche. The total related Purchaser Group Invested Amount shall be allocated to the each Asset Tranches Tranche by the Administratorrelated Purchaser Agent, on the related Purchaser's ’s behalf, to reflect the funding sources for the Asset Interest such that the total amount of the Purchaser's Tranche Investments of such Asset Tranches shall equal the Invested AmountInterest, and so that: (a) there will be an one or more Asset Tranche with a Purchaser's Tranche Investment Tranches equal to the excess (if any) of the related Purchaser Group Invested Amount over the aggregate amount allocated at such time pursuant to clause (b) below, which Asset Tranche (or Asset Tranches, if more than one) shall reflect the portion of the Asset Interest funded by Commercial Paper NotesNotes of the related Purchaser; and (b) there will may be one or more Asset Tranches, each with such Purchaser's Tranche Investments selected by the Administratora Purchaser Agent, on the related Purchaser's ’s behalf, reflecting the portion or portions of the Asset Interest funded by outstanding Liquidity Fundings (if any)of such Purchaser Group.