Exhibit 20.3
MONTHLY ADMINISTRATOR’S STATEMENT
TARGET RECEIVABLES CORPORATION
TARGET CREDIT CARD OWNER TRUST
SERIES 2005-1
The undersigned, a duly authorized representative of Target Receivables Corporation, as Administrator of the Target Credit Card Owner Trust 2005-1, does hereby certify that:
1. | The total amount to be distributed to Noteholders on the Distribution Date is equal to $1,906,875.00. | ||
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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 | 2.11875 |
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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 $1,906,875.00. | ||
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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 | 2.11875 |
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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. | ||
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.
| IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Administrator’s Certificate this 22nd day of July, 2008. | |
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| TARGET RECEIVABLES CORPORATION, | |
| as Administrator | |
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| By: /s/ Terrence J. Scully |
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| Name: Terrence J. Scully | |
| Title: Vice President | |
