Exhibit 20.3
MONTHLY ADMINISTRATOR’S STATEMENT
TARGET RECEIVABLES CORPORATION
TARGET CREDIT CARD OWNER TRUST
SERIES 2005-1
1. |
| The total amount to be distributed to Noteholders on the Distribution Date is equal to $4,057,500.00. | ||
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2. |
| The amount to be distributed to Noteholders on the Distribution Date per $1,000 original principal amount is equal to: | ||
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| Class A |
| 4.50833 |
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3. |
| The amount of such distribution allocable to principal is equal to $0.00. | ||
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4. |
| The amount of such distribution allocable to principal per $1,000 original principal amount is equal to: | ||
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| Class A |
| 0.00000 |
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5. |
| The amount of such distribution allocable to interest is equal to $4,057,500.00. | ||
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6. |
| The amount of such distribution allocable to interest per $1,000 original principal amount is equal to: | ||
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| Class A |
| 4.50833 |
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7. |
| The aggregate outstanding principal amount of the Class A Notes after giving effect to all payments herein reported is equal to $900,000,000.00. | ||
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Capitalized terms used herein have the meanings set forth in the Indenture, dated as of November 9, 2005, between Target Credit Card Owner Trust 2005-1, as Issuer, and Wells Fargo Bank, National Association, as Indenture Trustee. | ||||
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| IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Administrator’s Certificate this 22nd day of January, 2007. | ||
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| TARGET RECEIVABLES CORPORATION, | ||
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| as Administrator | ||
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| By: /s/ Terrence J. Scully | ||
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| Name: Terrence J. Scully | ||
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| Title: Vice President | ||