Common use of BALANCE Clause in Contracts

BALANCE. On the fourth Business Day prior to each Payment Date, the Administrator shall instruct the Trustee in writing pursuant to the Administration Agreement to pay, on such Payment Date, the balance (after making the payments required in Section 3.4 of this Series Supplement), if any, of the amounts available from the Series 2010-1 Accrued Interest Account as follows: (i) first, to the Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Monthly Administration Fee for such Series 2010-1 Interest Period; (ii) second, to the Trustee, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of any Trustee’s fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period; (iv) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges for such Series 2010-1 Interest Period; and (v) fifth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 2 contracts

Samples: Second Amended and Restated Series 2010 1 Supplement (Zipcar Inc), Amended and Restated Series 2010 1 Supplement (Zipcar Inc)

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BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement3.3(a)), if any, of the amounts available from the Series 20102004-1 4 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2004-4 Revolving Period, (1) first, to the Administrator, in an amount equal to the Series 20102004-1 4 Percentage as of the beginning of the such Series 20102004-1 4 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102004-1 4 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102004-1 4 Percentage as of the beginning of the such Series 20102004-1 4 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees for such Series 20102004-1 4 Interest Period that remain unpaid on such Payment Date; Period, (iii3) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102004-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period; 4 Distribution Account to pay any Article VII Costs, (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102004-1 4 Percentage as of the beginning of the such Series 20102004-1 4 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102004-1 4 Interest Period, and (5) fifth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2004-4 Collection Account and deposited in the Series 2004-4 Excess Collection Account; and (vii) on each Distribution Date during the Series 2004-4 Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2004-4 Percentage as of the beginning of such Series 2004-4 Interest Period of the Trustee’s fees for such Series 2004-4 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2004-4 Percentage as of the beginning of such Series 2004-4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by CRCF for such Series 2004-4 Interest Period, (3) third, to the Series 2004-4 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2004-4 Percentage as of the beginning of such Series 2004-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2004-4 Interest Period, and (5) fifth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 2 contracts

Samples: Series 2004 4 Supplement (Cendant Corp), Series 2004 4 Supplement (Cendant Corp)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement3.3(a)), if any, of the amounts available from the Series 20102015-1 3 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2015-3 Revolving Period or any Series 2015-3 Controlled Amortization Period, (1) first, to the Series 2015-3 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2015-3 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, in an amount equal to the Series 20102015-1 3 Percentage as of the beginning of the such Series 20102015-1 3 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102015-1 3 Interest Period; , (ii3) secondthird, to the Trustee, in an amount equal to the Series 20102015-1 3 Percentage as of the beginning of the such Series 20102015-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees for such Series 20102015-1 3 Interest Period that remain unpaid on such Payment Date; Period, (iii4) third, on a pro rata basisfourth, to the BackSeries 2015-Up Disposition Agent and the Back-Up Administrator3 Distribution Account to pay any Article VII Costs, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period; (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102015-1 3 Percentage as of the beginning of such Series 2015-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2015-3 Interest Period, (6) sixth, to the Series 20102015-1 3 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2015-3 Interest Period ending ended on the day preceding such Payment Distribution Date and (y) the Class R Monthly Interest Shortfall as of such Indenture Carrying Charges for such the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102015-1 Interest Period3 Collection Account and deposited in the Series 2015-3 Excess Collection Account; and (vii) on each Distribution Date during the Series 2015-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2015-3 Percentage as of the beginning of such Series 2015-3 Interest Period of the Trustee’s fees for such Series 2015-3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2015-3 Percentage as of the beginning of such Series 2015-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2015-3 Interest Period, (3) third, to the Series 2015-3 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2015-3 Percentage as of the beginning of such Series 2015-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2015-3 Interest Period, (5) fifth, to the Series 2015-3 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2015-3 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 2 contracts

Samples: Fourth Amended and Restated Series 2015 3 Supplement (Avis Budget Group, Inc.), Third Amended and Restated Series 2015 3 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 2.3(a) of this Series Supplement), if any, of the amounts available from Series 2000-3 Interest Rate Cap Proceeds and Interest Collections allocated to holders of the Series 20102000-1 Accrued Interest Account 3 Notes since the preceding Distribution Date as follows: (i) on each Distribution Date during the Series 2000-3 Revolving Period or the Series 2000-3 Controlled Amortization Period, (1) first, to the AdministratorSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2000-3 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Administrator, an amount equal to the Series 20102000-1 3 Percentage as of the beginning of the such Series 20102000-1 3 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102000-1 3 Interest Period; , (ii3) secondthird, to the Trustee, in an amount equal to the Series 20102000-1 3 Percentage as of the beginning of the such Series 20102000-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 20102000-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 3 Interest Period; , (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102000-1 3 Percentage as of the beginning of the such Series 20102000-1 3 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102000-1 3 Interest PeriodPeriod and (5) fifth, the balance, if any ("Excess Collections"), shall be withdrawn by the Paying Agent from the Series 2000-3 Collection Account and deposited in the Series 2000-3 Excess Collection Account; and (vii) on each Distribution Date during the Series 2000-3 Rapid Amortization Period, (1) first, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2000-3 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Trustee, an amount equal to the Series 2000-3 Percentage as of the beginning of such Series 2000-3 Interest Period of the Trustee's fees for such Series 2000-3 Interest Period, (3) third, to the Administrator, an amount equal to the Series 2000-3 Percentage as of the beginning of such Series 2000-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2000-3 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2000-3 Percentage as of the beginning of such Series 2000-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2000-3 Interest Period and (5) fifth, the balance, if any, shall constitute Excess Collections and shall be withdrawn by the Paying Agent from the Series 20102000-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 3 Collection Account and treated as Principal Collectionsdeposited in the Series 2000-3 Excess Collection Account.

Appears in 1 contract

Samples: Series 2000 3 Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment DateDistribution Date for the Series 2001-2 Notes of any Class, the Administrator shall instruct have instructed the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 3.3(a) of this Series Supplement), if any, of the amounts available from Series 2001-2 Interest Rate Cap Proceeds and Interest Collections allocated to holders of the Series 20102001-1 Accrued Interest Account 2 Notes since the preceding Distribution Date related to the Series 2001-2 Notes of such Class as follows: (i) on each Distribution Date for the Series 2001-2 Notes of any Class prior to the commencement of the Series 2001-2 Rapid Amortization Period, (1) first, PRO RATA, to the AdministratorAuction Agent, the Auction Agent Fee payable in respect of the Series 2001-2 Notes of such Class on such Distribution Date, and to the Broker-Dealer, the Broker-Dealer Fee payable in respect of the Series 2001-2 38 Notes of such Class on such Distribution Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee with respect to the Series 20102001-1 2 Notes of such Class for the related Interest Period and, without duplication, and (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 2001-2 Class Percentage as of the beginning of the Series 2010-1 such Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 2010-1 Interest Period; , (ii4) secondfourth, to the Trustee, in an amount equal to the Series 20102001-1 2 Class Percentage as of the beginning of the Series 2010-1 such Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period; , (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102001-1 2 Class Percentage as of the beginning of such Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Interest Period and (6) sixth, the balance, if any ("Excess Collections"), shall be withdrawn by the Paying Agent from the Series 20102001-1 Interest Period ending on 2 Collection Account and deposited in the day preceding such Payment Date of such Indenture Carrying Charges for such Series 20102001-1 Interest Period2 Excess Collection Account; and (vii) on each Distribution Date for the Series 2001-2 Notes of any Class during the Series 2001-2 Rapid Amortization Period, (1) first, PRO RATA, to the Auction Agent, the Auction Agent Fee payable in respect of the Series 2001-2 Notes of such Class, and to the Broker-Dealer, the Broker-Dealer Fee payable in respect of the Series 2001-2 Notes of such Class, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee with respect to the Notes of such Class for the related Interest Period and, without duplication, and (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 2001-2 Class Percentage as of the beginning of such Interest Period of the Trustee's fees for such Interest Period, (4) fourth, to the Administrator, an amount equal to the Series 2001-2 Class Percentage as of the beginning of such Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2001-2 Class Percentage as of the beginning of such Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Interest Period and (6) sixth, the balance, if any, shall constitute Excess Collections and shall be withdrawn by the Paying Agent from the Series 20102001-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 2 Collection Account and treated as Principal Collectionsdeposited in the Series 2001-2 Excess Collection Account.

Appears in 1 contract

Samples: Amended and Restated Series 2001 2 Supplement (Avis Group Holdings Inc)

BALANCE. On the fourth Business Day or prior to the second Busi-ness Day preceding each Payment Distribution Date, the Administrator Adminis-trator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series SupplementSec-tion 3.3(a)), if any, of the amounts available from the Series 20102004-1 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2004-1 Revolving Period or the Series 2004-1 Controlled Amortization Period, (1) first, to each Series 2004-1 Interest Rate Hedge Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2004-1 Interest Rate Hedge Counterparty, (2) second, to the Administrator, in an amount equal to the Series 20102004-1 Percentage as of the beginning of the such Series 20102004-1 Interest Period ending on of the day preceding such Payment Date por-tion of the Monthly Administration Fee pay-able by CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102004-1 Interest Period; , (ii3) secondthird, to the Trustee, in an amount equal to the Series 20102004-1 Percentage as of the beginning of the such Series 20102004-1 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 20102004-1 Interest Period; , (iv4) fourth, on a pro rata basisto the Series 2004-1 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102004-1 Percentage as of the beginning of the such Series 20102004-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102004-1 Interest Period; and , (v6) fifthsixth, to each Series 2004-1 Interest Rate Hedge Counterparty, any amounts due and owing under the applicable Series 2004-1 Interest Rate Hedge (other than any Fixed Rate Payment) and (7) seventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 20102004-1 Collection Account and deposited in the Series 2004-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2004-1 Rapid Amorti-zation Period, (1) first, to each Series 2004-1 Interest Rate Hedge Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2004-1 Interest Rate Hedge Counterparty, (2) second, to the Trustee, an amount equal to the Series 2004-1 Percentage as of the beginning of such Series 2004-1 Interest Period of the Trustee’s fees for such Series 2004-1 Interest Peri-od, (3) third, to the Adminis-tra-tor, an amount equal to the Series 2004-1 Percentage as of the beginning of such Series 2004-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by CRCF for such Series 2004-1 Interest Period, (4) fourth, to the Series 2004-1 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2004-1 Percentage as of the beginning of such Series 2004-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2004-1 Interest Period, (6) sixth, so long as the Series 2004-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2004-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2004-1 Interest Rate Hedge Counterparty, any amounts due and owing under the applicable Series 2004-1 Interest Rate Hedge (other than any Fixed Rate Payment).

Appears in 1 contract

Samples: Amended and Restated Series 2004 1 Supplement (Cendant Corp)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement3.3(a)), if any, of the amounts available from the Series 20102022-1 2 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2022-2 Revolving Period or the Series 2022-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102022-1 2 Percentage as of the beginning of the such Series 20102022-1 2 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102022-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102022-1 2 Percentage as of the beginning of the such Series 20102022-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees for such Series 20102022-1 2 Interest Period that remain unpaid on such Payment Date; Period, (iii3) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102022-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period; 2 Distribution Account to pay any Article VII Costs, (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102022-1 2 Percentage as of the beginning of such Series 2022-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2022-2 Interest Period, (5) fifth, to the Series 20102022-1 2 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2022-2 Interest Period ending ended on the day preceding such Payment Distribution Date and (y) the Class R Monthly Interest Shortfall as of such Indenture Carrying Charges for such the immediately preceding Distribution Date, and (6) sixth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102022-1 Interest Period2 Collection Account and deposited in the Series 2022-2 Excess Collection Account; and (vii) on each Distribution Date during the Series 2022-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2022-2 Percentage as of the beginning of such Series 2022-2 Interest Period of the Trustee’s fees for such Series 2022-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2022-2 Percentage as of the beginning of such Series 2022-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2022-2 Interest Period, (3) third, to the Series 2022-2 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2022-2 Percentage as of the beginning of such Series 2022-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2022-2 Interest Period, (5) fifth, to the Series 2022-2 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2022-2 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the -26- payments required in Section 3.4 of this Series Supplement3.3(a)), if any, of the amounts available from the Series 20102002-1 3 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2002-3 Revolving Period, (1) first, to the Administrator, in an amount equal to the Series 20102002-1 3 Percentage as of the beginning of the such Series 20102002-1 3 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102002-1 3 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102002-1 3 Percentage as of the beginning of the such Series 20102002-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 20102002-1 3 Interest Period that remain unpaid on such Payment Date; Period, (iii3) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102002-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period; 3 Distribution Account to pay any Article VI Costs, (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102002-1 3 Percentage as of the beginning of the such Series 20102002-1 3 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102002-1 3 Interest PeriodPeriod and (5) fifth, the balance, if any ("EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent from the Series 2002-3 Collection Account and deposited in the Series 2002-3 Excess Collection Account; and (vii) on each Distribution Date during the Series 2002-3 Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2002-3 Percentage as of the beginning of such Series 2002-3 Interest Period of the Trustee's fees for such Series 2002-3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2002-3 Percentage as of the beginning of such Series 2002-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2002-3 Interest Period, (3) third, to the Series 2002-3 Distribution Account to pay any Article VI Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2002-3 Percentage as of the beginning of such Series 2002-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2002-3 Interest Period and (5) fifth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series 2002 3 Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing 44 pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102023-1 5 Accrued Interest Account and the Series 2023-5 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-5 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-5 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2023-5 Revolving Period or the Series 2023-5 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102023-1 5 Percentage as of the beginning of the Series 20102023-1 5 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-1 5 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102023-1 5 Percentage as of the beginning of the such Series 20102023-1 5 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 5 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102023-1 5 Percentage as of the beginning of the such Series 20102023-1 5 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-1 5 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102023-1 Accrued Interest 5 Collection Account by and deposited in the Trustee and Series 2023-5 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102023-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 5 Rapid Amortization Period, deposited into (1) first, to the Series 20102023-1 Collection Account 5 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2023-5 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 2023-5 Percentage as of the beginning of such Series 2023-5 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2023-5 Interest Period, (3) third, to the Administrator, an amount equal to the Series 2023-5 Percentage as of the beginning of such Series 2023-5 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-5 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-5 Percentage as of the beginning of such Series 2023-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-5 Interest Period and (5) fifth, so long as the Series 2023-5 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2023-5 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2023 5 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102004-1 2 Accrued Interest Account and the Series 2004-2 Distribution Account, plus the amount, if any, drawn under the Series 2004-2 Letters of Credit and/or withdrawn from the Series 2004-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2004-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2004-2 Revolving Period or a Series 2004-2 Controlled Amortization Period, (1) first, to each Series 2004-2 Interest Rate Swap Counterparty, an amount equal to the Administratorportion, if any, of the Fixed Rate Payment for such Distribution Date due and owing to such Series 2004-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2004-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102004-1 2 Percentage as of the beginning of the Series 20102004-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102004-1 2 Interest Period; , (ii4) secondfourth, to the Trustee, in an amount equal to the Series 20102004-1 2 Percentage as of the beginning of the such Series 20102004-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102004-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102004-1 2 Percentage as of the beginning of such Series 2004-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2004-2 Interest Period, (6) sixth, to each Series 2004-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2004-2 Interest Rate Swap (other than any amount included in the Fixed Rate Payment) and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2004-2 Collection Account and deposited in the Series 2004-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2004-2 Rapid Amortization Period, (1) first, to each Series 2004-2 Interest Rate Swap Counterparty, an amount equal to the portion, if any, of the Fixed Rate Payment for such Distribution Date due and owing to such Series 2004-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2004-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 2004-2 Percentage as of the beginning of the Series 20102004-1 2 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102004-1 2 Interest Period; and , (v4) fourth, to the Administrator, an amount equal to the Series 2004-2 Percentage as of the beginning of such Series 2004-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2004-2 Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the balancePersons to whom such amounts are owed, if anyan amount equal to the Series 2004-2 Percentage as of the beginning of such Series 2004-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2004-2 Interest Period, (6) sixth, so long as the Series 2004-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2004-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal CollectionsCollections and (7) seventh, to each Series 2004-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2004-2 Interest Rate Swap (other than any amount included in the Fixed Rate Payment).

Appears in 1 contract

Samples: Series Supplement (Cendant Corp)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102022-1 Accrued Interest Account and the Series 2022-1 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2022-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2022-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2022-1 Revolving Period or the Series 2022-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102022-1 Percentage as of the beginning of the Series 20102022-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102022-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102022-1 Percentage as of the beginning of such Series 2022-1 Interest Period of the fees owing to the Trustee under the Base Indenture for such Series 2022-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102022-1 Percentage as of the beginning of such Series 2022-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2022-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2022-1 Collection Account and deposited in the Series 2022-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2022-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2022-1 Percentage as of the beginning of such Series 2022-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Base Indenture for such Series 20102022-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102022-1 Percentage as of the beginning of the such Series 20102022-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102022-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102022-1 Percentage as of the beginning of the such Series 20102022-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102022-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2022-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2022-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series 2022 1 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102018-1 2 Accrued Interest Account and the Series 2018-2 Distribution Account, plus the amount, if any, drawn under the Series 2018-2 Letters of Credit and/or withdrawn from the Series 2018-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2018-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2018-2 Revolving Period or the Series 2018-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102018-1 2 Percentage as of the beginning of the Series 20102018-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102018-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102018-1 2 Percentage as of the beginning of the such Series 20102018-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102018-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102018-1 2 Percentage as of the beginning of the such Series 20102018-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102018-1 2 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the AMERICAS 96004183 34 Series 20102018-1 Accrued Interest 2 Collection Account by and deposited in the Trustee and Series 2018-2 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102018-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 2 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102018-1 Collection Account 2 Percentage as of the beginning of such Series 2018-2 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2018-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2018-2 Percentage as of the beginning of such Series 2018-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2018-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2018-2 Percentage as of the beginning of such Series 2018-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2018-2 Interest Period and (4) fourth, so long as the Series 2018-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2018-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102015-1 Accrued Interest Account and the Series 2015-1 Distribution Account, plus the amount, if any, drawn under the Series 2015-1 Letters of Credit and/or withdrawn from the Series 2015-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2015-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2015-1 Revolving Period or the Series 2015-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102015-1 Percentage as of the beginning of the Series 20102015-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102015-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102015-1 Percentage as of the beginning of such Series 2015-1 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2015-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102015-1 Percentage as of the beginning of such Series 2015-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2015-1 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2015-1 Collection Account and deposited in the Series 2015-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2015-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2015-1 Percentage as of the beginning of such Series 2015-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Indenture for such Series 20102015-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102015-1 Percentage as of the beginning of the such Series 20102015-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102015-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102015-1 Percentage as of the beginning of the such Series 20102015-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102015-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2015-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2015-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement3.3(a)), if any, of the amounts available from the Series 20102015-1 3 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2015-3 Revolving Period or the Series 2015-3 Controlled Amortization Period, (1) first, to the Series 2015-3 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2015-3 Interest Period ending on the next Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, in an amount equal to the Series 20102015-1 3 Percentage as of the beginning of the such Series 20102015-1 3 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102015-1 3 Interest Period; , (ii3) secondthird, to the Trustee, in an amount equal to the Series 20102015-1 3 Percentage as of the beginning of the such Series 20102015-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees for such Americas 90884077 (2K) 60 Series 20102015-1 3 Interest Period that remain unpaid on such Payment Date; Period, (iii4) third, on a pro rata basisfourth, to the BackSeries 2015-Up Disposition Agent and the Back-Up Administrator3 Distribution Account to pay any Article VII Costs, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period; (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102015-1 3 Percentage as of the beginning of the such Series 20102015-1 3 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102015-1 3 Interest PeriodPeriod and (6) sixth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2015-3 Collection Account and deposited in the Series 2015-3 Excess Collection Account; and (vii) on each Distribution Date during the Series 2015-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2015-3 Percentage as of the beginning of such Series 2015-3 Interest Period of the Trustee’s fees for such Series 2015-3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2015-3 Percentage as of the beginning of such Series 2015-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2015-3 Interest Period, (3) third, to the Series 2015-3 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2015-3 Percentage as of the beginning of such Series 2015-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2015-3 Interest Period and (5) fifth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102015-1 2 Accrued Interest Account and the Series 2015-2 Distribution Account, plus the amount, if any, drawn under the Series 2015-2 Letters of Credit and/or withdrawn from the Series 2015-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2015-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2015-2 Revolving Period or the Series 2015-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102015-1 2 Percentage as of the beginning of the Series 20102015-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102015-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102015-1 2 Percentage as of the beginning of the such Series 20102015-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102015-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102015-1 2 Percentage as of the beginning of such Series 2015-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2015-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102015-1 2 Collection Account and deposited in the Series 2015-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2015-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2015-2 Percentage as of the beginning of such Series 2015-2 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102015-1 2 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if anyan amount equal to the Series 2015-2 Percentage as of the beginning of such Series 2015-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2015-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2015-2 Percentage as of the beginning of such Series 2015-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2015-2 Interest Period and (4) fourth, so long as the Series 2015-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2015-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102005-1 Accrued Interest Account and the Series 2005-1 Distribution Account, plus the amount, if any, drawn under the Series 2005-1 Letters of Credit and/or withdrawn from the Series 2005-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2005-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2005-1 Revolving Period or a Series 2005-1 Controlled Amortization Period, (1) first, to each Series 2005-1 Interest Rate Swap Counterparty, an amount equal to the AdministratorFixed Rate Payment for such Distribution Date due and owing to such Series 2005-1 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102005-1 Percentage as of the beginning of the Series 20102005-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102005-1 Interest Period; , (ii4) secondfourth, to the Trustee, in an amount equal to the Series 20102005-1 Percentage as of the beginning of such Series 2005-1 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2005-1 Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102005-1 Percentage as of the beginning of such Series 2005-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2005-1 Interest Period, (6) sixth, to each Series 2005-1 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2005-1 Interest Rate Swap (other than any Fixed Rate Payment) and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2005-1 Collection Account and deposited in the Series 2005-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2005-1 Rapid Amortization Period, (1) first, to each Series 2005-1 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2005-1 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 2005-1 Percentage as of the beginning of such Series 2005-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Indenture for such Series 20102005-1 Interest Period that remain unpaid on such Payment Date; Peri-od, (iii4) third, on a pro rata basisfourth, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102005-1 Percentage as of the beginning of the such Series 20102005-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by CRCF for such Series 20102005-1 Interest Period; , (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102005-1 Percentage as of the beginning of the such Series 20102005-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102005-1 Interest Period; and , (v6) fifthsixth, so long as the balanceSeries 2005-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2005-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal CollectionsCollections and (7) seventh, to each Series 2005-1 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2005-1 Interest Rate Swap (other than any Fixed Rate Payment).

Appears in 1 contract

Samples: Series Supplement (Cendant Corp)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102003-1 3 Accrued Interest Account and the Series 2003-3 Distribution Account, plus the amount, if any, drawn under the Series 2003-3 Letters of Credit and/or withdrawn from the Series 2003-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2003-3 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2003-3 Revolving Period or a Series 2003-3 Controlled Amortization Period, (1) first, to the AdministratorSeries 2003-3 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate CONFORMED COPY Payment for such Distribution Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-3 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102003-1 3 Percentage as of the beginning of the such Series 20102003-1 3 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102003-1 3 Interest Period; , (ii4) secondfourth, to the Trustee, in an amount equal to the Series 20102003-1 3 Percentage as of the beginning of the such Series 20102003-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 20102003-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 3 Interest Period; , (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102003-1 3 Percentage as of the beginning of the such Series 20102003-1 3 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-1 3 Interest Period; and , (v6) fifthsixth, to the Series 2003-3 Interest Rate Swap Counterparty, any amounts due and owing under the Series 2003-3 Interest Rate Swap (other than any Fixed Rate Payment) and (7) seventh, the balance, if anyany ("EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent from the Series 20102003-1 Accrued Interest 3 Collection Account by and deposited in the Trustee and Series 2003-3 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102003-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 3 Rapid Amortization Period, deposited into (1) first, to the Series 20102003-1 Collection Account 3 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-3 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 2003-3 Percentage as of the beginning of such Series 2003-3 Interest Period of the Trustee's fees for such Series 2003-3 Interest Period, (4) fourth, to the Administrator, an amount equal to the Series 2003-3 Percentage as of the beginning of such Series 2003-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2003-3 Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2003-3 Percentage as of the beginning of such Series 2003-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2003-3 Interest Period, (6) sixth, so long as the Series 2003-3 Invested Amount is greater than the Series 2003-3 Principal Allocations on such Distribution Date, an amount equal to the excess of the Series 2003-3 Invested Amount over the Series 2003-3 Principal Allocations on such Distribution Date shall be treated as Principal CollectionsCollections and (7) seventh, to the Series 2003-3 Interest Rate Swap Counterparty, any amounts due and owing under the Series 2003-3 Interest Rate Swap (other than any Fixed Rate Payment).

Appears in 1 contract

Samples: Series 2003 3 Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102011-1 3 Accrued Interest Account and the Series 2011-3 Distribution Account, plus the amount, if any, drawn under the Series 2011-3 Letters of Credit and/or withdrawn from the Series 2011-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2011-3 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2011-3 Revolving Period or the Series 2011-3 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102011-1 3 Percentage as of the beginning of the Series 20102011-1 3 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102011-1 3 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102011-1 3 Percentage as of the beginning of the such Series 20102011-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102011-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 3 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102011-1 3 Percentage as of the beginning of such Series 2011-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-3 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102011-1 3 Collection Account and deposited in the Series 2011-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 2011-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2011-3 Percentage as of the beginning of such Series 2011-3 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102011-1 3 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if anyan amount equal to the Series 2011-3 Percentage as of the beginning of such Series 2011-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2011-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2011-3 Percentage as of the beginning of such Series 2011-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-3 Interest Period and (4) fourth, so long as the Series 2011-3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2011-3 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.3(a), if any, of the amounts available from the Series 20102003-1 2 Accrued Interest Account plus the amount, if any, drawn under the Series 2003-2 Letters of Credit and/or withdrawn from the Series 2003-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2003-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2003-2 Revolving Period or a Series 2003-2 Controlled Amortization Period, (1) first, to the AdministratorSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Administrator, an amount equal to the Series 20102003-1 2 Percentage as of the beginning of the such Series 20102003-1 2 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102003-1 2 Interest Period; , (ii3) secondthird, to the Trustee, in an amount equal to the Series 20102003-1 2 Percentage as of the beginning of the such Series 20102003-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 20102003-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102003-1 2 Percentage as of the beginning of the such Series 20102003-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-1 2 Interest PeriodPeriod and (5) fifth, the balance, if any ("EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent from the Series 2003-2 Collection Account and deposited in the Series 2003-2 Excess Collection Account; and (vii) on each Distribution Date during the Series 2003-2 Rapid Amortization Period, (1) first, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Trustee, an amount equal to the Series 2003-2 Percentage as of the beginning of such Series 2003-2 Interest Period of the Trustee's fees for such Series 2003-2 Interest Period, (3) third, to the Administrator, an amount equal to the Series 2003-2 Percentage as of the beginning of such Series 2003-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2003-2 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2003-2 Percentage as of the beginning of such Series 2003-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2003-2 Interest Period and (5) fifth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series 2003 2 Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102017-1 Accrued Interest Account and the Series 2017-1 Distribution Account, plus the amount, if any, drawn under the Series 2017-1 Letters of Credit and/or withdrawn from the Series 2017-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2017-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2017-1 Revolving Period or the Series 2017-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102017-1 Percentage as of the beginning of the Series 20102017-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102017-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102017-1 Percentage as of the beginning of such Series 2017-1 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2017-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102017-1 Percentage as of the beginning of such Series 2017-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2017-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2017-1 Collection Account and deposited in the Series 2017-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2017-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2017-1 Percentage as of the beginning of such Series 2017-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Indenture for such Series 20102017-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102017-1 Percentage as of the beginning of the such Series 20102017-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102017-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102017-1 Percentage as of the beginning of the such Series 20102017-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102017-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2017-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2017-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102018-1 2 Accrued Interest Account and the Series 2018-2 Distribution Account, plus the amount, if any, drawn under the Series 2018-2 Letters of Credit and/or withdrawn from the Series 2018-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2018-2 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2018-2 Revolving Period or the Series 2018-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102018-1 2 Percentage as of the beginning of the Series 20102018-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102018-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102018-1 2 Percentage as of the beginning of the such Series 20102018-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102018-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102018-1 2 Percentage as of the beginning of the such Series 20102018-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102018-1 2 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102018-1 Accrued Interest 2 Collection Account by and deposited in the Trustee and Series 2018-2 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102018-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 2 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102018-1 Collection Account 2 Percentage as of the beginning of such Series 2018-2 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2018-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2018-2 Percentage as of the beginning of such Series 2018-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2018-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2018-2 Percentage as of the beginning of such Series 2018-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2018-2 Interest Period and (4) fourth, so long as the Series 2018-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2018-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2018 2 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 2.3(a) of this Series Supplement), if any, of the amounts available from Interest Collections allocated to holders of the Series 20101997-1 Accrued Interest Account Notes since the preceding Distribution Date as follows: (i) on each Distribution Date during the Series 1997-1 Revolving Period or any Series 1997-1 Controlled Amortization Period, (1) first, to the AdministratorSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 1997-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Administrator, an amount equal to the Series 20101997-1 Percentage as of the beginning of the such Series 20101997-1 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20101997-1 Interest Period; , (ii3) secondthird, to the Trustee, in an amount equal to the Series 20101997-1 Percentage as of the beginning of the such Series 20101997-1 Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 20101997-1 Interest Period; , (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20101997-1 Percentage as of the beginning of the such Series 20101997-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20101997-1 Interest Period and (5) fifth, the balance, if any ("Excess Collections"), shall be withdrawn by the Paying Agent from the Series 1997-1 Collection Account and deposited in the Series 1997-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 1997-1 Rapid Amortization Period, (1) first, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 1997-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Trustee, an amount equal to the Series 1997-1 Percentage as of the beginning of such Series 1997-1 Interest Period of the Trustee's fees for such Series 1997-1 Interest Period; and , (v3) third, to the Administrator, an amount equal to the Series 1997-1 Percentage as of the beginning of such Series 1997-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 1997-1 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 1997-1 Percentage as of the beginning of such Series 1997-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1997-1 Interest Period and (5) fifth, the balance, if any, shall constitute Excess Collections and shall be withdrawn by the Paying Agent from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 20101997-1 Collection Account and treated as Principal Collectionsdeposited in the Series 1997-1 Excess Collection Account.

Appears in 1 contract

Samples: Series Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102022-1 5 Accrued Interest Account and the Series 2022-5 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2022-5 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2022-5 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2022-5 Revolving Period or the Series 2022-5 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102022-1 5 Percentage as of the beginning of the Series 20102022-1 5 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102022-1 5 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102022-1 5 Percentage as of the beginning of the such Series 20102022-1 5 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102022-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 5 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102022-1 5 Percentage as of the beginning of the such Series 20102022-1 5 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102022-1 5 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102022-1 Accrued Interest 5 Collection Account by and deposited in the Trustee and Series 2022-5 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102022-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 5 Rapid Amortization Period, deposited into (1) first, to the Series 20102022-1 Collection Account 5 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2022-5 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 2022-5 Percentage as of the beginning of such Series 2022-5 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2022-5 Interest Period, (3) third, to the Administrator, an amount equal to the Series 2022-5 Percentage as of the beginning of such Series 2022-5 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2022-5 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2022-5 Percentage as of the beginning of such Series 2022-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2022-5 Interest Period and (5) fifth, so long as the Series 2022-5 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2022-5 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2022 5 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102021-1 2 Accrued Interest Account and the Series 2021-2 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2021-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2021-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2021-2 Revolving Period or the Series 2021-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102021-1 2 Percentage as of the beginning of the Series 20102021-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102021-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102021-1 2 Percentage as of the beginning of the such Series 20102021-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102021-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102021-1 2 Percentage as of the beginning of the such Series 20102021-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102021-1 2 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102021-1 Accrued Interest 2 Collection Account by and deposited in the Trustee and Series 2021-2 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102021-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 2 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102021-1 Collection Account 2 Percentage as of the beginning of such Series 2021-2 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2021-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2021-2 Percentage as of the beginning of such Series 2021-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2021-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2021-2 Percentage as of the beginning of such Series 2021-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2021-2 Interest Period and (4) fourth, so long as the Series 2021-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2021-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102013-1 Accrued Interest Account and the Series 2013-1 Distribution Account, plus the amount, if any, drawn under the Series 2013-1 Letters of Credit and/or withdrawn from the Series 2013-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2013-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2013-1 Revolving Period or the Series 2013-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102013-1 Percentage as of the beginning of the Series 20102013-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102013-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102013-1 Percentage as of the beginning of such Series 2013-1 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2013-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102013-1 Percentage as of the beginning of such Series 2013-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2013-1 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2013-1 Collection Account and deposited in the Series 2013-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2013-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2013-1 Percentage as of the beginning of such Series 2013-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Indenture for such Series 20102013-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102013-1 Percentage as of the beginning of the such Series 20102013-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102013-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102013-1 Percentage as of the beginning of the such Series 20102013-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102013-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2013-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2013-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102012-1 2 Accrued Interest Account and the Series 2012-2 Distribution Account, plus the amount, if any, drawn under the Series 2012-2 Letters of Credit and/or withdrawn from the Series 2012-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2012-2 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2012-2 Revolving Period or the Series 2012-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102012-1 2 Percentage as of the beginning of the Series 20102012-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102012-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102012-1 2 Percentage as of the beginning of the such Series 20102012-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102012-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102012-1 2 Percentage as of the beginning of such Series 2012-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2012-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102012-1 2 Collection Account and deposited in the Series 2012-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2012-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2012-2 Percentage as of the beginning of such Series 2012-2 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102012-1 2 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if anyan amount equal to the Series 2012-2 Percentage as of the beginning of such Series 2012-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2012-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2012-2 Percentage as of the beginning of such Series 2012-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2012-2 Interest Period and (4) fourth, so long as the Series 2012-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2012-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.. NEWYORK 8960490 (2K)A&R Series 2012-2 Supplement (Class C Note issuance) 39

Appears in 1 contract

Samples: Amended and Restated Series 2012 2 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102012-1 Accrued Interest Account and the Series 2012-1 Distribution Account, plus the amount, if any, drawn under the Series 2012-1 Letters of Credit and/or withdrawn from the Series 2012-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2012-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2012-1 Revolving Period or the Series 2012-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102012-1 Percentage as of the beginning of the Series 20102012-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102012-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102012-1 Percentage as of the beginning of such Series 2012-1 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2012-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102012-1 Percentage as of the beginning of such Series 2012-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2012-1 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2012-1 Collection Account and deposited in the Series 2012-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2012-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2012-1 Percentage as of the beginning of such Series 2012-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Indenture for such Series 20102012-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102012-1 Percentage as of the beginning of the such Series 20102012-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102012-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102012-1 Percentage as of the beginning of the such Series 20102012-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102012-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2012-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2012-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 2.3(a) of this Series Supplement), if any, of the amounts available from Interest Collections allocated to holders of the Series 20101998-1 Accrued Interest Account Notes since the preceding Distribution Date as follows: (i) on each Distribution Date during the Series 1998-1 Revolving Period or the Series 1998-1 Controlled Amortization Period, (1) first, to the AdministratorSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 1998-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Administrator, an amount equal to the Series 20101998-1 Percentage as of the beginning of the such Series 20101998-1 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20101998-1 Interest Period; , (ii3) secondthird, to the Trustee, in an amount equal to the Series 20101998-1 Percentage as of the beginning of the such Series 20101998-1 Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 20101998-1 Interest Period; , (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20101998-1 Percentage as of the beginning of the such Series 20101998-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20101998-1 Interest Period and (5) fifth, the balance, if any ("Excess Collections"), shall be withdrawn by the Paying Agent from the Series 1998-1 Collection Account and deposited in the Series 1998-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 1998-1 Rapid Amortization Period, (1) first, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 1998-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Trustee, an amount equal to the Series 1998-1 Percentage as of the beginning of such Series 1998-1 Interest Period of the Trustee's fees for such Series 1998-1 Interest Period; and , (v3) third, to the Administrator, an amount equal to the Series 1998-1 Percentage as of the beginning of such Series 1998-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 1998-1 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 1998-1 Percentage as of the beginning of such Series 1998-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1998-1 Interest Period and (5) fifth, the balance, if any, shall constitute Excess Collections and shall be withdrawn by the Paying Agent from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 20101998-1 Collection Account and treated as Principal Collectionsdeposited in the Series 1998-1 Excess Collection Account.

Appears in 1 contract

Samples: Series Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102023-1 3 Accrued Interest Account and the Series 2023-3 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-3 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-3 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2023-3 Revolving Period or the Series 2023-3 Controlled Amortization Period, (1) first, to the Administrator, in 44 an amount equal to the Series 20102023-1 3 Percentage as of the beginning of the Series 20102023-1 3 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-1 3 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102023-1 3 Percentage as of the beginning of the such Series 20102023-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 3 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102023-1 3 Percentage as of the beginning of the such Series 20102023-1 3 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-1 3 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102023-1 Accrued Interest 3 Collection Account by and deposited in the Trustee and Series 2023-3 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102023-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 3 Rapid Amortization Period, deposited into (1) first, to the Series 20102023-1 Collection Account 3 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2023-3 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 2023-3 Percentage as of the beginning of such Series 2023-3 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2023-3 Interest Period, (3) third, to the Administrator, an amount equal to the Series 2023-3 Percentage as of the beginning of such Series 2023-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-3 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-3 Percentage as of the beginning of such Series 2023-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-3 Interest Period and (5) fifth, so long as the Series 2023-3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2023-3 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2023 3 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102023-1 4 Accrued Interest Account and the Series 2023-4 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-4 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-4 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2023-4 Revolving Period or the Series 2023-4 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102023-1 4 Percentage as of the beginning of the Series 20102023-1 4 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-1 4 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102023-1 4 Percentage as of the beginning of the such Series 20102023-1 4 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 4 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102023-1 4 Percentage as of the beginning of the such Series 20102023-1 4 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-1 4 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102023-1 Accrued Interest 4 Collection Account by and deposited in the Trustee and Series 2023-4 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102023-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 4 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102023-1 Collection Account 4 Percentage as of the beginning of such Series 2023-4 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2023-4 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2023-4 Percentage as of the beginning of such Series 2023-4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-4 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-4 Percentage as of the beginning of such Series 2023-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-4 Interest Period and (4) fourth, so long as the Series 2023-4 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2023-4 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 2010-1 3 Accrued Interest Account and the Series 2010-3 Distribution Account, plus the amount, if any, drawn under the Series 2010-3 Letters of Credit and/or withdrawn from the Series 2010-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2010-3 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2010-3 Revolving Period or the Series 2010-3 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 2010-1 3 Percentage as of the beginning of the Series 2010-1 3 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 2010-1 3 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 2010-1 3 Percentage as of the beginning of the such Series 2010-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 3 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 2010-1 3 Percentage as of the beginning of such Series 2010-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-3 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-1 3 Collection Account and deposited in the Series 2010-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 2010-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-3 Percentage as of the beginning of such Series 2010-3 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 2010-1 3 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if any, shall be withdrawn from an amount equal to the Series 2010-1 Accrued 3 Percentage as of the beginning of such Series 2010-3 Interest Account Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Trustee and (A) during Persons to whom such amounts are owed, an amount equal to the Series 2010-1 Revolving Period3 Percentage as of the beginning of such Series 2010-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-3 Interest Period and (4) fourth, deposited into so long as the Series 2010-1 Excess Collection Account or (B) during 3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2010-1 Rapid Amortization Period, deposited into 3 Invested Amount over the Series 2010-1 Collection Account and Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102023-1 2 Accrued Interest Account and the Series 2023-2 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-2 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2023-2 Revolving Period or the Series 2023-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102023-1 2 Percentage as of the beginning of the Series 20102023-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102023-1 2 Percentage as of the beginning of the such Series 20102023-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102023-1 2 Percentage as of the beginning of the such Series 20102023-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-1 2 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102023-1 Accrued Interest 2 Collection Account by and deposited in the Trustee and Series 2023-2 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102023-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 2 Rapid Amortization Period, deposited into (1) first, to the Series 20102023-1 Collection Account 2 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2023-2 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 2023-2 Percentage as of the beginning of such Series 2023-2 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2023-2 Interest Period, (3) third, to the Administrator, an amount equal to the Series 2023-2 Percentage as of the beginning of such Series 2023-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-2 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-2 Percentage as of the beginning of such Series 2023-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-2 Interest Period and (5) fifth, so long as the Series 2023-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2023-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2023 2 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102009-1 2 Accrued Interest Account and the Series 2009-2 Distribution Account, plus the amount, if any, drawn under the Series 2009-2 Letters of Credit and/or withdrawn from the Series 2009-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2009-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2009-2 Revolving Period or the Series 2009-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102009-1 2 Percentage as of the beginning of the Series 20102009-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102009-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102009-1 2 Percentage as of the beginning of the such Series 20102009-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102009-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102009-1 2 Percentage as of the beginning of such Series 2009-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2009-2 Interest Period, and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102009-1 2 Collection Account and deposited in the Series 2009-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2009-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2009-2 Percentage as of the beginning of such Series 2009-2 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102009-1 2 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if anyan amount equal to the Series 2009-2 Percentage as of the beginning of such Series 2009-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2009-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2009-2 Percentage as of the beginning of such Series 2009-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2009-2 Interest Period and (4) fourth, so long as the Series 2009-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2009-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102019-1 3 Accrued Interest Account and the Series 2019-3 Distribution Account, plus the amount, if any, drawn under the Series 2019-3 Letters of Credit and/or withdrawn from the Series 2019-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2019-3 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2019-3 Revolving Period or the Series 2019-3 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102019-1 3 Percentage as of the beginning of the Series 20102019-1 3 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102019-1 3 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102019-1 3 Percentage as of the beginning of the such Series 20102019-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102019-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 3 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102019-1 3 Percentage as of the beginning of the such Series 20102019-1 3 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102019-1 3 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102019-1 Accrued Interest 3 Collection Account by and deposited in the Trustee and Series 2019-3 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102019-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 3 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102019-1 Collection Account 3 Percentage as of the beginning of such Series 2019-3 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2019-3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2019-3 Percentage as of the beginning of such Series 2019-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2019-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2019-3 Percentage as of the beginning of such Series 2019-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2019-3 Interest Period and (4) fourth, so long as the Series 2019-3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2019-3 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On the fourth Business Day prior to each Payment Date, the Administrator shall instruct the Trustee in writing pursuant to the Administration Agreement to pay, on such Payment Date, the balance (after making the payments required in Section 3.4 of this Series Supplement), if any, of the amounts available from the Series 20102005-1 4 Accrued Interest Account plus the amount, if any, withdrawn from the Class A Reserve Account pursuant to Section 3.3(d)(i) of this Series Supplement plus the amount, if any, withdrawn from the Class B Reserve Account pursuant to Section 3.3(d)(ii) of this Series Supplement plus the amount, if any, drawn under the Class A Letters of Credit and/or withdrawn from the Class A Cash Collateral Accounts pursuant to Section 3.3(e)(I) of this Series Supplement plus the amount, if any, drawn under the Class B Letters of Credit and/or withdrawn from the Class B Cash Collateral Accounts pursuant to Section 3.3(e)(II) of this Series Supplement as follows: (i) first, on a pro rata basis to each Interest Rate Hedge Provider, in an amount equal to the portion of the Monthly Hedge Payment for such Payment Date payable to such Interest Rate Hedge Provider; (ii) second, to the Insurer, in an amount equal to the sum of (x) the Insurer Fee for the Series 2005-4 Interest Period ending on the day preceding such Payment Date and (y) any other Insurer Reimbursement Amounts then due and payable to the Insurer (excluding therefrom any amounts included in Class A Monthly Interest for such Series 2005-4 Interest Period), provided that during the continuance of an Insurer Default, no amounts in respect of the Insurer Fee shall be paid with the proceeds of a draw on a Series 2005-4 Letters of Credit or a withdrawal from a Series 2005-4 Cash Collateral Account; (iii) third, to the Administrator, in an amount equal to the Series 20102005-1 4 Percentage as of the beginning of the Series 20102005-1 4 Interest Period ending on the day preceding such Payment Date of the Monthly Administration Fee for such Series 20102005-1 4 Interest Period; (iiiv) secondfourth, to the Trustee, in an amount equal to the Series 20102005-1 4 Percentage as of the beginning of the Series 20102005-1 Interest Period ending on the day preceding such Payment Date of any Trustee’s fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 4 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up AdministratorTrustee’s fees for such Series 20102005-1 4 Interest Period; (ivv) fourthfifth, on a pro rata basis, (x) to each Interest Rate Hedge Provider, in an amount equal to any remaining amounts due and owing to such Interest Rate Hedge Provider and (y) to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for aboveabove and in the preceding clause (x)) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102005-1 4 Percentage as of the beginning of the Series 20102005-1 4 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 20102005-1 4 Interest Period; and (vvi) fifthsixth, the balance, if any, shall be withdrawn from the Series 20102005-1 4 Accrued Interest Account by the Trustee and (A) during the Series 20102005-1 4 Revolving Period, deposited into the Series 20102005-1 4 Excess Collection Account or (B) during the Series 20102005-1 4 Rapid Amortization Period, deposited into the Series 20102005-1 4 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series Supplement (Hertz Global Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102011-1 5 Accrued Interest Account and the Series 2011-5 Distribution Account, plus the amount, if any, drawn under the Series 2011-5 Letters of Credit and/or withdrawn from the Series 2011-5 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2011-5 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2011-5 Revolving Period or the Series 2011-5 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102011-1 5 Percentage as of the beginning of the Series 20102011-1 5 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102011-1 5 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102011-1 5 Percentage as of the beginning of the such Series 20102011-1 5 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102011-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 5 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102011-1 5 Percentage as of the beginning of such Series 2011-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-5 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102011-1 5 Collection Account and deposited in the Series 2011-5 Excess Collection Account; and (ii) on each Distribution Date during the Series 2011-5 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2011-5 Percentage as of the beginning of such Series 2011-5 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102011-1 5 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if anyan amount equal to the Series 2011-5 Percentage as of the beginning of such Series 2011-5 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2011-5 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2011-5 Percentage as of the beginning of such Series 2011-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-5 Interest Period and (4) fourth, so long as the Series 2011-5 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2011-5 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On the fourth Business Day or prior to the second Busi­ness Day preceding each Payment Distribution Date, the Administrator Adminis­trator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series SupplementSec­tion 3.3(a)), if any, of the amounts available from the Series 20102008-1 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2008-1 Revolving Period, (1) first, to the Administrator, in an amount equal to the Series 20102008-1 Percentage as of the beginning of the such Series 20102008-1 Interest Period ending on of the day preceding such Payment Date por­tion of the Monthly Administration Fee pay­able by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102008-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102008-1 Percentage as of the beginning of the such Series 20102008-1 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 20102008-1 Interest Period; , (iv3) third, to the Series 2008-1 Distribution Account to pay any Article VII Costs, (4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102008-1 Percentage as of the beginning of the such Series 20102008-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102008-1 Interest Period and (5) fifth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2008-1 Collection Account and deposited in the Series 2008-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2008-1 Amorti­zation Period, (1) first, to the Trustee, an amount equal to the Series 2008-1 Percentage as of the beginning of such Series 2008-1 Interest Period of the Trustee’s fees for such Series 2008-1 Interest Peri­od, (2) second, to the Adminis­tra­tor, an amount equal to the Series 2008-1 Percentage as of the beginning of such Series 2008-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2008-1 Interest Period; and , (v3) third, to the Series 2008-1 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2008-1 Percentage as of the beginning of such Series 2008-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2008-1 Interest Period and (5) fifth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series 2008 1 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102021-1 Accrued Interest Account and the Series 2021-1 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2021-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2021-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2021-1 Revolving Period or the Series 2021-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102021-1 Percentage as of the beginning of the Series 20102021-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102021-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102021-1 Percentage as of the beginning of such Series 2021-1 Interest Period of the fees owing to the Trustee under the Base Indenture for such Series 2021-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102021-1 Percentage as of the beginning of such Series 2021-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2021-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2021-1 Collection Account and deposited in the Series 2021-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2021-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2021-1 Percentage as of the beginning of such Series 2021-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Base Indenture for such Series 20102021-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102021-1 Percentage as of the beginning of the such Series 20102021-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102021-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102021-1 Percentage as of the beginning of the such Series 20102021-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102021-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2021-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2021-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102019-1 2 Accrued Interest Account and the Series 2019-2 Distribution Account, plus the amount, if any, drawn under the Series 2019-2 Letters of Credit and/or withdrawn from the Series 2019-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2019-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2019-2 Revolving Period or the Series 2019-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102019-1 2 Percentage as of the beginning of the Series 20102019-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102019-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102019-1 2 Percentage as of the beginning of the such Series 20102019-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102019-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102019-1 2 Percentage as of the beginning of the such Series 20102019-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102019-1 2 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102019-1 Accrued Interest 2 Collection Account by and deposited in the Trustee and Series 2019-2 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102019-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 2 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102019-1 Collection Account 2 Percentage as of the beginning of such Series 2019-2 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2019-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2019-2 Percentage as of the beginning of such Series 2019-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2019-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2019-2 Percentage as of the beginning of such Series 2019-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2019-2 Interest Period and (4) fourth, so long as the Series 2019-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2019-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series 2019 2 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102012-1 3 Accrued Interest Account and the Series 2012-3 Distribution Account, plus the amount, if any, drawn under the Series 2012-3 Letters of Credit and/or withdrawn from the Series 2012-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2012-3 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2012-3 Revolving Period or the Series 2012-3 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102012-1 3 Percentage as of the beginning of the Series 20102012-1 3 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102012-1 3 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102012-1 3 Percentage as of the beginning of the such Series 20102012-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102012-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 3 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102012-1 3 Percentage as of the beginning of such Series 2012-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2012-3 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102012-1 3 Collection Account and deposited in the Series 2012-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 2012-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2012-3 Percentage as of the beginning of such Series 2012-3 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102012-1 3 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if anyan amount equal to the Series 2012-3 Percentage as of the beginning of such Series 2012-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2012-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2012-3 Percentage as of the beginning of such Series 2012-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2012-3 Interest Period and (4) fourth, so long as the Series 2012-3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2012-3 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement3.3(a)), if any, of the amounts available from the Series 20102003-1 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2003-1 Revolving Period, (1) first, to the Administrator, in an amount equal to the Series 20102003-1 Percentage as of the beginning of the such Series 20102003-1 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102003-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102003-1 Percentage as of the beginning of the such Series 20102003-1 Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 20102003-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102003-1 Percentage as of the beginning of the such Series 20102003-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-1 Interest Period and (4) fourth, the balance, if any ("EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent from the Series 2003-1 Collection Account and deposited in the Series 2003-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2003-1 Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2003-1 Percentage as of the beginning of such Series 2003-1 Interest Period of the Trustee's fees for such Series 2003-1 Interest Period; and , (v2) fifthsecond, to the Administrator, an amount equal to the Series 2003-1 Percentage as of the beginning of such Series 2003-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2003-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2003-1 Percentage as of the beginning of such Series 2003-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2003-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series 2003 1 Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102005-1 2 Accrued Interest Account and the Series 2005-2 Distribution Account, plus the amount, if any, drawn under the Series 2005-2 Letters of Credit and/or withdrawn from the Series 2005-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2005-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2005-2 Revolving Period or a Series 2005-2 Controlled Amortization Period, (1) first, to each Series 2005-2 Interest Rate Swap Counterparty, an amount equal to the AdministratorFixed Rate Payment for such Distribution Date due and owing to such Series 2005-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102005-1 2 Percentage as of the beginning of the Series 20102005-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102005-1 2 Interest Period; , (ii4) secondfourth, to the Trustee, in an amount equal to the Series 20102005-1 2 Percentage as of the beginning of the such Series 20102005-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102005-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102005-1 2 Percentage as of the beginning of such Series 2005-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2005-2 Interest Period, (6) sixth, to each Series 2005-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2005-2 Interest Rate Swap (other than any Fixed Rate Payment) and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102005-1 2 Collection Account and deposited in the Series 2005-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2005-2 Rapid Amortization Period, (1) first, to each Series 2005-2 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2005-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 2005-2 Percentage as of the beginning of such Series 2005-2 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102005-1 2 Interest Period; and , (v4) fourth, to the Administrator, an amount equal to the Series 2005-2 Percentage as of the beginning of such Series 2005-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by CRCF for such Series 2005-2 Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the balancePersons to whom such amounts are owed, if anyan amount equal to the Series 2005-2 Percentage as of the beginning of such Series 2005-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2005-2 Interest Period, (6) sixth, so long as the Series 2005-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2005-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal CollectionsCollections and (7) seventh, to each Series 2005-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2005-2 Interest Rate Swap (other than any Fixed Rate Payment).

Appears in 1 contract

Samples: Series 2005 2 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102023-1 2 Accrued Interest Account and the Series 2023-2 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2023-2 Revolving Period or the Series 2023-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102023-1 2 Percentage as of the beginning of the Series 20102023-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102023-1 2 Percentage as of the beginning of the such Series 20102023-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102023-1 2 Percentage as of the beginning of the such Series 20102023-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-1 2 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102023-1 Accrued Interest 2 Collection Account by and deposited in the Trustee and Series 2023-2 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102023-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 2 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102023-1 Collection Account 2 Percentage as of the beginning of such Series 2023-2 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2023-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2023-2 Percentage as of the beginning of such Series 2023-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-2 Percentage as of the beginning of such Series 2023-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-2 Interest Period and (4) fourth, so long as the Series 2023-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2023-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 2010-1 5 Accrued Interest Account and the Series 2010-5 Distribution Account, plus the amount, if any, drawn under the Series 2010-5 Letters of Credit and/or withdrawn from the Series 2010-5 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2010-5 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2010-5 Revolving Period or the Series 2010-5 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 2010-1 5 Percentage as of the beginning of the Series 2010-1 5 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 2010-1 5 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 2010-1 5 Percentage as of the beginning of the such Series 2010-1 5 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 5 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 2010-1 5 Percentage as of the beginning of such Series 2010-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-5 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-1 5 Collection Account and deposited in the Series 2010-5 Excess Collection Account; and (ii) on each Distribution Date during the Series 2010-5 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-5 Percentage as of the beginning of such Series 2010-5 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 2010-1 5 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if any, shall be withdrawn from an amount equal to the Series 2010-1 Accrued 5 Percentage as of the beginning of such Series 2010-5 Interest Account Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-5 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Trustee and (A) during Persons to whom such amounts are owed, an amount equal to the Series 2010-1 Revolving Period5 Percentage as of the beginning of such Series 2010-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-5 Interest Period and (4) fourth, deposited into so long as the Series 2010-1 Excess Collection Account or (B) during 5 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2010-1 Rapid Amortization Period, deposited into 5 Invested Amount over the Series 2010-1 Collection Account and Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102003-1 4 Accrued Interest Account and the Series 2003-4 Distribution Account, PLUS the amount, if any, drawn under the Series 2003-4 Letters of Credit and/or withdrawn from the Series 2003-4 Cash Collateral Account pursuant to Section 2.3(c) PLUS the amount, if any, withdrawn from the Series 2003-4 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2003-4 Revolving Period or a Series 2003-4 Controlled Amortization Period, (1) first, to each Series 2003-4 Interest Rate Swap Counterparty, an amount equal to the AdministratorFixed Rate Payment due and owing under the applicable Series 2003-4 Interest Rate Swap for such Distribution Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-4 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102003-1 4 Percentage as of the beginning of the such Series 20102003-1 4 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102003-1 4 Interest Period; , (ii4) secondfourth, to the Trustee, in an amount equal to the Series 20102003-1 4 Percentage as of the beginning of the such Series 20102003-1 4 Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 20102003-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 4 Interest Period; , (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 2010CONFORMED COPY 2003-1 4 Percentage as of the beginning of the such Series 20102003-1 4 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-1 4 Interest Period; and , (v6) fifthsixth, to each Series 2003-4 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2003-4 Interest Rate Swap (other than any Fixed Rate Payment) and (7) seventh, the balance, if anyany ("EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent from the Series 20102003-1 Accrued Interest 4 Collection Account by and deposited in the Trustee and Series 2003-4 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102003-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 4 Rapid Amortization Period, deposited into (1) first, to each Series 2003-4 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment due and owing under the applicable Series 2003-4 Interest Rate Swap for such Distribution Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-4 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102003-1 Collection Account and 4 Percentage as of the beginning of such Series 2003-4 Interest Period of the Trustee's fees for such Series 2003-4 Interest Period, (4) fourth, to the Administrator, an amount equal to the Series 2003-4 Percentage as of the beginning of such Series 2003-4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2003-4 Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2003-4 Percentage as of the beginning of such Series 2003-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2003-4 Interest Period, (6) sixth, so long as the Series 2003-4 Invested Amount is greater than the Series 2003-4 Principal Allocations on such Distribution Date, an amount equal to the excess of the Series 2003-4 Invested Amount over the Series 2003-4 Principal Allocations on such Distribution Date shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2003-4 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2003-4 Interest Rate Swap (other than any Fixed Rate Payment).

Appears in 1 contract

Samples: Series 2003 4 Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102017-1 2 Accrued Interest Account and the Series 2017-2 Distribution Account, plus the amount, if any, drawn under the Series 2017-2 Letters of Credit and/or withdrawn from the Series 2017-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2017-2 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2017-2 Revolving Period or the Series 2017-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102017-1 2 Percentage as of the beginning of the Series 20102017-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102017-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102017-1 2 Percentage as of the beginning of the such Series 20102017-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102017-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102017-1 2 Percentage as of the beginning of the such Series 20102017-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102017-1 2 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102017-1 Accrued Interest 2 Collection Account by and deposited in the Trustee and Series 2017-2 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102017-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 2 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102017-1 Collection Account 2 Percentage as of the beginning of such Series 2017-2 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2017-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2017-2 Percentage as of the beginning of such Series 2017-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2017-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2017-2 Percentage as of the beginning of such Series 2017-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2017-2 Interest Period and (4) fourth, so long as the Series 2017-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2017-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102023-1 8 Accrued Interest Account and the Series 2023-8 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-8 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-8 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2023-8 Revolving Period or the Series 2023-8 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102023-1 8 Percentage as of the beginning of the Series 20102023-1 8 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-1 8 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102023-1 8 Percentage as of the beginning of the such Series 20102023-1 8 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 8 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102023-1 8 Percentage as of the beginning of the such Series 20102023-1 8 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-1 8 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102023-1 Accrued Interest 8 Collection Account by and deposited in the Trustee and Series 2023-8 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102023-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 8 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102023-1 Collection Account 8 Percentage as of the beginning of such Series 2023-8 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2023-8 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2023-8 Percentage as of the beginning of such Series 2023-8 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-8 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-8 Percentage as of the beginning of such Series 2023-8 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-8 Interest Period and (4) fourth, so long as the Series 2023-8 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2023-8 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement3.3(a)), if any, of the amounts available from the Series 20102004-1 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2004-1 Revolving Period or the Series 2004-1 Controlled Amortization Period, (1) first, to each Series 2004-1 Interest Rate Hedge Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2004-1 Interest Rate Hedge Counterparty, (2) second, to the Administrator, in an amount equal to the Series 20102004-1 Percentage as of the beginning of the such Series 20102004-1 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102004-1 Interest Period; , (ii3) secondthird, to the Trustee, in an amount equal to the Series 20102004-1 Percentage as of the beginning of the such Series 20102004-1 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 20102004-1 Interest Period; , (iv4) fourth, on a pro rata basisto the Series 2004-1 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102004-1 Percentage as of the beginning of the such Series 20102004-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102004-1 Interest Period; and , (v6) fifthsixth, to each Series 2004-1 Interest Rate Hedge Counterparty, any amounts due and owing under the applicable Series 2004-1 Interest Rate Hedge (other than any Fixed Rate Payment) and (7) seventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102004-1 Accrued Interest Collection Account by the Trustee and (A) during deposited in the Series 2010-1 Revolving Period, deposited into the Series 20102004-1 Excess Collection Account or Account; and (Bii) on each Distribution Date during the Series 20102004-1 Rapid Amortization Period, deposited into (1) first, to each Series 2004-1 Interest Rate Hedge Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2004-1 Interest Rate Hedge Counterparty, (2) second, to the Trustee, an amount equal to the Series 20102004-1 Collection Percentage as of the beginning of such Series 2004-1 Interest Period of the Trustee’s fees for such Series 2004-1 Interest Period, (3) third, to the Administrator, an amount equal to the Series 2004-1 Percentage as of the beginning of such Series 2004-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by CRCF for such Series 2004-1 Interest Period, (4) fourth, to the Series 2004-1 Distribution Account and to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2004-1 Percentage as of the beginning of such Series 2004-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2004-1 Interest Period, (6) sixth, so long as the Series 2004-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2004-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2004-1 Interest Rate Hedge Counterparty, any amounts due and owing under the applicable Series 2004-1 Interest Rate Hedge (other than any Fixed Rate Payment).

Appears in 1 contract

Samples: Second Amended and Restated Series 2004 1 Supplement (Cendant Corp)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 2010-1 2 Accrued Interest Account and the Series 2010-2 Distribution Account, plus the amount, if any, drawn under the Series 2010-2 Letters of Credit and/or withdrawn from the Series 2010-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2010-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2010-2 Revolving Period or the Series 2010-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 2010-1 2 Percentage as of the beginning of the Series 2010-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 2010-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 2010-1 2 Percentage as of the beginning of the such Series 2010-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 2010-1 2 Percentage as of the beginning of such Series 2010-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-1 2 Collection Account and deposited in the Series 2010-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2010-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-2 Percentage as of the beginning of such Series 2010-2 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 2010-1 2 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if any, shall be withdrawn from an amount equal to the Series 2010-1 Accrued 2 Percentage as of the beginning of such Series 2010-2 Interest Account Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Trustee and (A) during Persons to whom such amounts are owed, an amount equal to the Series 2010-1 Revolving Period2 Percentage as of the beginning of such Series 2010-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-2 Interest Period and (4) fourth, deposited into so long as the Series 2010-1 Excess Collection Account or (B) during 2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2010-1 Rapid Amortization Period, deposited into 2 Invested Amount over the Series 2010-1 Collection Account and Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102011-1 3 Accrued Interest Account and the Series 2011-3 Distribution Account, plus the amount, if any, drawn under the Series 2011-3 Letters of Credit and/or withdrawn from the Series 2011-3 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2011-3 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2011-3 Revolving Period or the Series 2011-3 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102011-1 3 Percentage as of the beginning of the Series 20102011-1 3 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102011-1 3 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102011-1 3 Percentage as of the beginning of the such Series 20102011-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102011-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 3 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102011-1 3 Percentage as of the beginning of such Series 2011-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-3 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102011-1 3 Collection Account and deposited in the Series 2011-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 2011-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2011-3 Percentage as of the beginning of such Series 2011-3 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102011-1 3 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if anyan amount equal to the Series 2011-3 Percentage as of the beginning of such Series 2011-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2011-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2011-3 Percentage as of the beginning of such Series 2011-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-3 Interest Period and (4) fourth, so long as the Series 2011-3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2011-3 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2011 3 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement3.3(a)), if any, of the amounts available from the Series 20102009-1 3 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2009-3 Revolving Period, (1) first, to the Administrator, in an amount equal to the Series 20102009-1 3 Percentage as of the beginning of the such Series 20102009-1 3 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102009-1 3 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102009-1 3 Percentage as of the beginning of the such Series 20102009-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees for such Series 20102009-1 3 Interest Period that remain unpaid on such Payment Date; Period, (iii3) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102009-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period; 3 Distribution Account to pay any Article VII Costs, (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102009-1 3 Percentage as of the beginning of the such Series 20102009-1 3 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102009-1 3 Interest PeriodPeriod and (5) fifth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2009-3 Collection Account and deposited in the Series 2009-3 Excess Collection Account; and (vii) on each Distribution Date during the Series 2009-3 Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2009-3 Percentage as of the beginning of such Series 2009-3 Interest Period of the Trustee’s fees for such Series 2009-3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2009-3 Percentage as of the beginning of such Series 2009-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2009-3 Interest Period, (3) third, to the Series 2009-3 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2009-3 Percentage as of the beginning of such Series 2009-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2009-3 Interest Period and (5) fifth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 2010-1 4 Accrued Interest Account and the Series 2010-4 Distribution Account, plus the amount, if any, drawn under the Series 2010-4 Letters of Credit and/or withdrawn from the Series 2010-4 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2010-4 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2010-4 Revolving Period or the Series 2010-4 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 2010-1 4 Percentage as of the beginning of the Series 2010-1 4 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 2010-1 4 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 2010-1 4 Percentage as of the beginning of the such Series 2010-1 4 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 4 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 2010-1 4 Percentage as of the beginning of such Series 2010-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-4 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-1 4 Collection Account and deposited in the Series 2010-4 Excess Collection Account; and (ii) on each Distribution Date during the Series 2010-4 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-4 Percentage as of the beginning of such Series 2010-4 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 2010-1 4 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if any, shall be withdrawn from an amount equal to the Series 2010-1 Accrued 4 Percentage as of the beginning of such Series 2010-4 Interest Account Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-4 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Trustee and (A) during Persons to whom such amounts are owed, an amount equal to the Series 2010-1 Revolving Period4 Percentage as of the beginning of such Series 2010-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-4 Interest Period and (4) fourth, deposited into so long as the Series 2010-1 Excess Collection Account or (B) during 4 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2010-1 Rapid Amortization Period, deposited into 4 Invested Amount over the Series 2010-1 Collection Account and Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102011-1 5 Accrued Interest Account and the Series 2011-5 Distribution Account, plus the amount, if any, drawn under the Series 2011-5 Letters of Credit and/or withdrawn from the Series 2011-5 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2011-5 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2011-5 Revolving Period or the Series 2011-5 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102011-1 5 Percentage as of the beginning of the Series 20102011-1 5 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102011-1 5 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102011-1 5 Percentage as of the beginning of the such Series 20102011-1 5 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102011-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 5 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102011-1 5 Percentage as of the beginning of such Series 2011-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-5 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102011-1 5 Collection Account and deposited in the Series 2011-5 Excess Collection Account; and (ii) on each Distribution Date during the Series 2011-5 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2011-5 Percentage as of the beginning of such Series 2011-5 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102011-1 5 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if anyan amount equal to the Series 2011-5 Percentage as of the beginning of such Series 2011-5 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2011-5 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2011-5 Percentage as of the beginning of such Series 2011-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-5 Interest Period and (4) fourth, so long as the Series 2011-5 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2011-5 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2011 5 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102023-1 7 Accrued Interest Account and the Series 2023-7 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-7 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-7 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2023-7 Revolving Period or the Series 2023-7 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102023-1 7 Percentage as of the beginning of the Series 20102023-1 7 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-1 7 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102023-1 7 Percentage as of the beginning of the such Series 20102023-1 7 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 7 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102023-1 7 Percentage as of the beginning of the such Series 20102023-1 7 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-1 7 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102023-1 Accrued Interest 7 Collection Account by and deposited in the Trustee and Series 2023-7 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102023-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 7 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102023-1 Collection Account 7 Percentage as of the beginning of such Series 2023-7 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2023-7 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2023-7 Percentage as of the beginning of such Series 2023-7 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-7 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-7 Percentage as of the beginning of such Series 2023-7 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-7 Interest Period and (4) fourth, so long as the Series 2023-7 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2023-7 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102019-1 2 Accrued Interest Account and the Series 2019-2 Distribution Account, plus the amount, if any, drawn under the Series 2019-2 Letters of Credit and/or withdrawn from the Series 2019-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2019-2 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2019-2 Revolving Period or the Series 2019-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102019-1 2 Percentage as of the beginning of the Series 20102019-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102019-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102019-1 2 Percentage as of the beginning of the such Series 20102019-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102019-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102019-1 2 Percentage as of the beginning of the such Series 20102019-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102019-1 2 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102019-1 Accrued Interest 2 Collection Account by and deposited in the Trustee and Series 2019-2 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102019-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 2 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102019-1 Collection Account 2 Percentage as of the beginning of such Series 2019-2 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2019-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2019-2 Percentage as of the beginning of such Series 2019-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2019-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2019-2 Percentage as of the beginning of such Series 2019-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2019-2 Interest Period and (4) fourth, so long as the Series 2019-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2019-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2019 2 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102019-1 3 Accrued Interest Account and the Series 2019-3 Distribution Account, plus the amount, if any, drawn under the Series 2019-3 Letters of Credit and/or withdrawn from the Series 2019-3 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2019-3 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2019-3 Revolving Period or the Series 2019-3 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102019-1 3 Percentage as of the beginning of the Series 20102019-1 3 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102019-1 3 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102019-1 3 Percentage as of the beginning of the such Series 20102019-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102019-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 3 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102019-1 3 Percentage as of the beginning of the such Series 20102019-1 3 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102019-1 3 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102019-1 Accrued Interest 3 Collection Account by and deposited in the Trustee and Series 2019-3 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102019-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 3 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102019-1 Collection Account 3 Percentage as of the beginning of such Series 2019-3 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2019-3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2019-3 Percentage as of the beginning of such Series 2019-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2019-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2019-3 Percentage as of the beginning of such Series 2019-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2019-3 Interest Period and (4) fourth, so long as the Series 2019-3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2019-3 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2019 3 Supplement (Avis Budget Group, Inc.)

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BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102024-1 Accrued Interest Account and the Series 2024-1 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2024-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2024-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2024-1 Revolving Period or the Series 2024-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102024-1 Percentage as of the beginning of the Series 20102024-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102024-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102024-1 Percentage as of the beginning of such Series 2024-1 Interest Period of the fees owing to the Trustee under the Base Indenture for such Series 2024-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102024-1 Percentage as of the beginning of such Series 2024-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2024-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2024-1 Collection Account and deposited in the Series 2024-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2024-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2024-1 Percentage as of the beginning of such Series 2024-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Base Indenture for such Series 20102024-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102024-1 Percentage as of the beginning of the such Series 20102024-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102024-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102024-1 Percentage as of the beginning of the such Series 20102024-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102024-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2024-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2024-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102013-1 2 Accrued Interest Account and the Series 2013-2 Distribution Account, plus the amount, if any, drawn under the Series 2013-2 Letters of Credit and/or withdrawn from the Series 2013-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2013-2 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2013-2 Revolving Period or the Series 2013-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102013-1 2 Percentage as of the beginning of the Series 20102013-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102013-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102013-1 2 Percentage as of the beginning of the such Series 20102013-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102013-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102013-1 2 Percentage as of the beginning of such Series 2013-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2013-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102013-1 2 Collection Account and deposited in the Series 2013-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2013-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2013-2 Percentage as of the beginning of such Series 2013-2 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102013-1 2 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if anyan amount equal to the Series 2013-2 Percentage as of the beginning of such Series 2013-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2013-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2013-2 Percentage as of the beginning of such Series 2013-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2013-2 Interest Period and (4) fourth, so long as the Series 2013-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2013-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2013 2 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102019-1 Accrued Interest Account and the Series 2019-1 Distribution Account, plus the amount, if any, drawn under the Series 2019-1 Letters of Credit and/or withdrawn from the Series 2019-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2019-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2019-1 Revolving Period or the Series 2019-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102019-1 Percentage as of the beginning of the Series 20102019-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102019-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102019-1 Percentage as of the beginning of such Series 2019-1 Interest Period of the fees owing to the Trustee under the Base Indenture for such Series 2019-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102019-1 Percentage as of the beginning of such Series 2019-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2019-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2019-1 Collection Account and deposited in the Series 2019-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2019-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2019-1 Percentage as of the beginning of such Series 2019-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Base Indenture for such Series 20102019-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102019-1 Percentage as of the beginning of the such Series 20102019-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102019-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102019-1 Percentage as of the beginning of the such Series 20102019-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102019-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2019-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2019-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series 2019 1 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102018-1 Accrued Interest Account and the Series 2018-1 Distribution Account, plus the amount, if any, drawn under the Series 2018-1 Letters of Credit and/or withdrawn from the Series 2018-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2018-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2018-1 Revolving Period or the Series 2018-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102018-1 Percentage as of the beginning of the Series 20102018-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102018-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102018-1 Percentage as of the beginning of such Series 2018-1 Interest Period of the fees owing to the Trustee under the Base Indenture for such Series 2018-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102018-1 Percentage as of the beginning of such Series 2018-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2018-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2018-1 Collection Account and deposited in the Series 2018-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2018-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2018-1 Percentage as of the beginning of such Series 2018-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Base Indenture for such Series 20102018-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102018-1 Percentage as of the beginning of the such Series 20102018-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102018-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102018-1 Percentage as of the beginning of the such Series 20102018-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102018-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2018-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2018-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On the fourth Business Day prior to each Payment Date, the Administrator shall instruct the Trustee in writing pursuant to the Administration Agreement to pay, on such Payment Date, the balance (after making the payments required in Section 3.4 of this Series Supplement), if any, of the amounts available from the Series 20102005-1 3 Accrued Interest Account plus the amount, if any, withdrawn from the Class A Reserve Account pursuant to Section 3.3(d)(i) of this Series Supplement plus the amount, if any, withdrawn from the Class B Reserve Account pursuant to Section 3.3(d)(ii) of this Series Supplement plus the amount, if any, drawn under the Class A Letters of Credit and/or withdrawn from the Class A Cash Collateral Accounts pursuant to Section 3.3(e)(I) of this Series Supplement plus the amount, if any, drawn under the Class B Letters of Credit and/or withdrawn from the Class B Cash Collateral Accounts pursuant to Section 3.3(e)(II) of this Series Supplement as follows: (i) first, on a pro rata basis to each Interest Rate Hedge Provider, in an amount equal to the portion of the Monthly Hedge Payment for such Payment Date payable to such Interest Rate Hedge Provider; (ii) second, to the Insurer, in an amount equal to the sum of (x) the Insurer Fee for the Series 2005-3 Interest Period ending on the day preceding such Payment Date and (y) any other Insurer Reimbursement Amounts then due and payable to the Insurer (excluding therefrom any amounts included in Class A Monthly Interest for such Series 2005-3 Interest Period), provided that during the continuance of an Insurer Default, no amounts in respect of the Insurer Fee shall be paid with the proceeds of a draw on a Series 2005-3 Letters of Credit or a withdrawal from a Series 2005-3 Cash Collateral Account; (iii) third, to the Administrator, in an amount equal to the Series 20102005-1 3 Percentage as of the beginning of the Series 20102005-1 3 Interest Period ending on the day preceding such Payment Date of the Monthly Administration Fee for such Series 20102005-1 3 Interest Period; (iiiv) secondfourth, to the Trustee, in an amount equal to the Series 20102005-1 3 Percentage as of the beginning of the Series 20102005-1 Interest Period ending on the day preceding such Payment Date of any Trustee’s fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 3 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up AdministratorTrustee’s fees for such Series 20102005-1 3 Interest Period; (ivv) fourthfifth, on a pro rata basis, (x) to each Interest Rate Hedge Provider, in an amount equal to any remaining amounts due and owing to such Interest Rate Hedge Provider and (y) to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for aboveabove and in the preceding clause (x)) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102005-1 3 Percentage as of the beginning of the Series 20102005-1 3 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 20102005-1 3 Interest Period; and (vvi) fifthsixth, the balance, if any, shall be withdrawn from the Series 20102005-1 3 Accrued Interest Account by the Trustee and (A) during the Series 20102005-1 3 Revolving Period, deposited into the Series 20102005-1 3 Excess Collection Account or (B) during the Series 20102005-1 3 Rapid Amortization Period, deposited into the Series 20102005-1 3 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series Supplement (Hertz Global Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102022-1 5 Accrued Interest Account and the Series 2022-5 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2022-5 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2022-5 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2022-5 Revolving Period or the Series 2022-5 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102022-1 5 Percentage as of the beginning of the Series 20102022-1 5 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102022-1 5 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102022-1 5 Percentage as of the beginning of the such Series 20102022-1 5 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102022-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 5 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102022-1 5 Percentage as of the beginning of the such Series 20102022-1 5 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102022-1 5 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102022-1 Accrued Interest 5 Collection Account by and deposited in the Trustee and Series 2022-5 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102022-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 5 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102022-1 Collection Account 5 Percentage as of the beginning of such Series 2022-5 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2022-5 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2022-5 Percentage as of the beginning of such Series 2022-5 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2022-5 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2022-5 Percentage as of the beginning of such Series 2022-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2022-5 Interest Period and (4) fourth, so long as the Series 2022-5 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2022-5 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102006-1 Accrued Interest Account and the Series 2006-1 Distribution Account, plus the amount, if any, drawn under the Series 2006-1 Letters of Credit and/or withdrawn from the Series 2006-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2006-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2006-1 Revolving Period or the Series 2006-1 Con­trolled Amortization Period, (1) first, to each Series 2006-1 Interest Rate Swap Counterparty, an amount equal to the AdministratorFixed Rate Payment for such Distribution Date due and owing to such Series 2006-1 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2006-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102006-1 Percentage as of the beginning of the Series 20102006-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee pay­able by CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102006-1 Interest Period; , (ii4) secondfourth, to the Trustee, in an amount equal to the Series 20102006-1 Percentage as of the beginning of such Series 2006-1 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2006-1 Interest Peri­od, (5) fifth, to pay any Car­rying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102006-1 Percentage as of the beginning of such Series 2006-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2006-1 Interest Period, (6) sixth, to each Series 2006-1 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2006-1 Interest Rate Swap (other than any Fixed Rate Payment) and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2006-1 Collection Account and deposited in the Series 2006-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2006-1 Rapid Amorti­zation Period, (1) first, to each Series 2006-1 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2006-1 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2006-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 2006-1 Percentage as of the beginning of such Series 2006-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Indenture for such Series 20102006-1 Interest Period that remain unpaid on such Payment Date; Peri­od, (iii4) third, on a pro rata basisfourth, to the Back-Up Disposition Agent and the Back-Up AdministratorAdministra­tor, in an amount equal to the Series 20102006-1 Percentage as of the beginning of the such Series 20102006-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by CRCF for such Series 20102006-1 Interest Period; , (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102006-1 Percentage as of the beginning of the such Series 20102006-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102006-1 Interest Period; and , (v6) fifthsixth, so long as the balanceSeries 2006-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2006-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal CollectionsCollections and (7) seventh, to each Series 2006-1 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2006-1 Interest Rate Swap (other than any Fixed Rate Payment).

Appears in 1 contract

Samples: Series Supplement (Cendant Corp)

BALANCE. On the fourth Business Day prior to each Payment Date, the Administrator shall instruct the Trustee in writing pursuant to the Administration Agreement to pay, on such Payment Date, the balance (after making the payments required in Section 3.4 2.4 of this Series Supplement), if any, of the amounts available from the Series 20102005-1 2 Accrued Interest Account plus the amount, if any, withdrawn from the Class A Reserve Account pursuant to Section 2.3(d)(i) of this Series Supplement plus the amount, if any, withdrawn from the Class B Reserve Account pursuant to Section 2.3(d)(ii) of this Series Supplement plus the amount, if any, drawn under the Class A Letters of Credit and/or withdrawn from the Class A Cash Collateral Accounts pursuant to Section 2.3(e)(I) of this Series Supplement plus the amount, if any, drawn under the Class B Letters of Credit and/or withdrawn from the Class B Cash Collateral Accounts pursuant to Section 2.3 (e)(II) of this Series Supplement as follows: (i) first, on a pro rata basis to each Interest Rate Hedge Provider, in an amount equal to the portion of the Monthly Hedge Payment for such Payment Date payable to such Interest Rate Hedge Provider; (ii) second, to the Insurer, in an amount equal to the sum of (x) the Insurer Fee for the Series 2005-2 Interest Period ending on the day preceding such Payment Date and (y) any other Insurer Reimbursement Amounts then due and payable to the Insurer (excluding therefrom any amounts included in Class A Monthly Interest for such Series 2005-2 Interest Period), provided that during the continuance of an Insurer Default, no amounts in respect of the Insurer Fee shall be paid with the proceeds of a draw on a Series 2005-2 Letters of Credit or a withdrawal from a Series 2005-2 Cash Collateral Account; (iii) third, to the Administrator, in an amount equal to the Series 20102005-1 2 Percentage as of the beginning of the Series 20102005-1 2 Interest Period ending on the day preceding such Payment Date of the Monthly Administration Fee for such Series 20102005-1 2 Interest Period; (iiiv) secondfourth, to the Trustee, in an amount equal to the Series 20102005-1 2 Percentage as of the beginning of the Series 20102005-1 Interest Period ending on the day preceding such Payment Date of any Trustee’s fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 2 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up AdministratorTrustee’s fees for such Series 20102005-1 2 Interest Period; (ivv) fourthfifth, on a pro rata basis, (x) to each Interest Rate Hedge Provider, in an amount equal to any remaining amounts due and owing to such Interest Rate Hedge Provider and (y) to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for aboveabove and in the preceding clause (x)) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102005-1 2 Percentage as of the beginning of the Series 20102005-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 20102005-1 2 Interest Period; and (vvi) fifthsixth, the balance, if any, shall be withdrawn from the Series 20102005-1 2 Accrued Interest Account by the Trustee and (A) during the Series 20102005-1 2 Revolving Period, deposited into the Series 20102005-1 2 Excess Collection Account or (B) during the Series 20102005-1 2 Controlled Amortization Period or the Series 2005-2 Rapid Amortization Period, deposited into the Series 20102005-1 2 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series Supplement (Hertz Global Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102009-1 Accrued Interest Account and the Series 2009-1 Distribution Account, plus the amount, if any, drawn under the Series 2009-1 Letters of Credit and/or withdrawn from the Series 2009-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2009-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2009-1 Revolving Period or the Series 2009-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102009-1 Percentage as of the beginning of the Series 20102009-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102009-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102009-1 Percentage as of the beginning of such Series 2009-1 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2009-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102009-1 Percentage as of the beginning of such Series 2009-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2009-1 Interest Period, and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2009-1 Collection Account and deposited in the Series 2009-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2009-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2009-1 Percentage as of the beginning of such Series 2009-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Indenture for such Series 20102009-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102009-1 Percentage as of the beginning of the such Series 20102009-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102009-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102009-1 Percentage as of the beginning of the such Series 20102009-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102009-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2009-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2009-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series 2009 1 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement3.3(a)), if any, of the amounts available from the Series 20102002-1 2 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2002-2 Revolving Period, (1) first, to the Administrator, in an amount equal to the Series 20102002-1 2 Percentage as of the beginning of the such Series 20102002-1 2 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102002-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102002-1 2 Percentage as of the beginning of the such Series 20102002-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 20102002-1 2 Interest Period that remain unpaid on such Payment Date; Period, (iii3) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102002-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period; 2 Distribution Account to pay any Article VII Costs, (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102002-1 2 Percentage as of the beginning of the such Series 20102002-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102002-1 2 Interest PeriodPeriod and (5) fifth, the balance, if any ("EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent from the Series 2002-2 Collection Account and deposited in the Series 2002-2 Excess Collection Account; and (vii) on each Distribution Date during the Series 2002-2 Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2002-2 Percentage as of the beginning of such Series 2002-2 Interest Period of the Trustee's fees for such Series 2002-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2002-2 Percentage as of the beginning of such Series 2002-2 Interest Period of the portion of the Monthly Administration Fee (as specified in -43- clause (iii) of the definition thereof) payable by AFC-II for such Series 2002-2 Interest Period, (3) third, to the Series 2002-2 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2002-2 Percentage as of the beginning of such Series 2002-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2002-2 Interest Period and (5) fifth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series 2002 2 Supplement (Avis Group Holdings Inc)

BALANCE. On the fourth Business Day prior to each Payment Date, the Administrator shall instruct the Trustee in writing pursuant to the Administration Agreement to pay, pay on such Payment Date, Date the balance (after making the payments required in Section 3.4 2.4 of this Series Supplement), if any, of the amounts available from the Series 2010-1 Accrued Interest Account as follows: (i) first, to pay the Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Monthly Administration Fee for such Series 2010-1 Interest Period; (ii) second, to pay the Trustee, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of any the Trustee’s fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period; (iviii) fourththird, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 2010-1 Interest Period; and (viv) fifthfourth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Controlled Amortization Period or the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Supplement (Hertz Global Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102012-1 2 Accrued Interest Account and the Series 2012-2 Distribution Account, plus the amount, if any, drawn under the Series 2012-2 Letters of Credit and/or withdrawn from the Series 2012-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2012-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2012-2 Revolving Period or the Series 2012-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102012-1 2 Percentage as of the beginning of the Series 20102012-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102012-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102012-1 2 Percentage as of the beginning of the such Series 20102012-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102012-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102012-1 2 Percentage as of the beginning of such Series 2012-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2012-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102012-1 2 Collection Account and deposited in the Series 2012-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2012-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2012-2 Percentage as of the beginning of such Series 2012-2 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102012-1 2 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if anyan amount equal to the Series 2012-2 Percentage as of the beginning of such Series 2012-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2012-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2012-2 Percentage as of the beginning of such Series 2012-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2012-2 Interest Period and (4) fourth, so long as the Series 2012-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2012-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102005-1 4 Accrued Interest Account and the Series 2005-4 Distribution Account, plus the amount, if any, drawn under the Series 2005-4 Letters of Credit and/or withdrawn from the Series 2005-4 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2005-4 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2005-4 Revolving Period or a Series 2005-4 Controlled Amortization Period, (1) first, to each Series 2005-4 Interest Rate Swap Counterparty, an amount equal to the AdministratorFixed Rate Payment for such Distribution Date due and owing to such Series 2005-4 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-4 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102005-1 4 Percentage as of the beginning of the Series 20102005-1 4 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102005-1 4 Interest Period; , (ii4) secondfourth, to the Trustee, in an amount equal to the Series 20102005-1 4 Percentage as of the beginning of the such Series 20102005-1 4 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102005-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 4 Interest Period; , (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102005-1 4 Percentage as of the beginning of such Series 2005-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2005-4 Interest Period, (6) sixth, to each Series 2005-4 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2005-4 Interest Rate Swap (other than any Fixed Rate Payment) and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102005-1 4 Collection Account and deposited in the Series 2005-4 Excess Collection Account; and (ii) on each Distribution Date during the Series 2005-4 Rapid Amortization Period, (1) first, to each Series 2005-4 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2005-4 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-4 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 2005-4 Percentage as of the beginning of such Series 2005-4 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102005-1 4 Interest Period; and , (v4) fourth, to the Administrator, an amount equal to the Series 2005-4 Percentage as of the beginning of such Series 2005-4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by CRCF for such Series 2005-4 Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the balancePersons to whom such amounts are owed, if anyan amount equal to the Series 2005-4 Percentage as of the beginning of such Series 2005-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2005-4 Interest Period, (6) sixth, so long as the Series 2005-4 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2005-4 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal CollectionsCollections and (7) seventh, to each Series 2005-4 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2005-4 Interest Rate Swap (other than any Fixed Rate Payment).

Appears in 1 contract

Samples: Series Supplement (Cendant Corp)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102023-1 6 Accrued Interest Account and the Series 2023-6 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-6 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-6 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2023-6 Revolving Period or the Series 2023-6 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102023-1 6 Percentage as of the beginning of the Series 20102023-1 6 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-1 6 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102023-1 6 Percentage as of the beginning of the such Series 20102023-1 6 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 6 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102023-1 6 Percentage as of the beginning of the such Series 20102023-1 6 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-1 6 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102023-1 Accrued Interest 6 Collection Account by and deposited in the Trustee and Series 2023-6 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102023-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 6 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102023-1 Collection Account 6 Percentage as of the beginning of such Series 2023-6 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2023-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2023-6 Percentage as of the beginning of such Series 2023-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-6 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-6 Percentage as of the beginning of such Series 2023-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-6 Interest Period and (4) fourth, so long as the Series 2023-6 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2023-6 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102023-1 5 Accrued Interest Account and the Series 2023-5 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-5 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-5 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2023-5 Revolving Period or the Series 2023-5 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102023-1 5 Percentage as of the beginning of the Series 20102023-1 5 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-1 5 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102023-1 5 Percentage as of the beginning of the such Series 20102023-1 5 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 5 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102023-1 5 Percentage as of the beginning of the such Series 20102023-1 5 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-1 5 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102023-1 Accrued Interest 5 Collection Account by and deposited in the Trustee and Series 2023-5 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102023-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 5 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102023-1 Collection Account 5 Percentage as of the beginning of such Series 2023-5 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2023-5 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2023-5 Percentage as of the beginning of such Series 2023-5 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-5 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-5 Percentage as of the beginning of such Series 2023-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-5 Interest Period and (4) fourth, so long as the Series 2023-5 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2023-5 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102020-1 2 Accrued Interest Account and the Series 2020-2 Distribution Account, plus the amount, if any, drawn under the Series 2020-2 Letters of Credit and/or withdrawn from the Series 2020-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2020-2 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2020-2 Revolving Period or the Series 2020-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102020-1 2 Percentage as of the beginning of the Series 20102020-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102020-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102020-1 2 Percentage as of the beginning of the such Series 20102020-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102020-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102020-1 2 Percentage as of the beginning of the such Series 20102020-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102020-1 2 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102020-1 Accrued Interest 2 Collection Account by and deposited in the Trustee and Series 2020-2 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102020-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 2 Rapid Amortization Period, deposited into (1) first, to the Series 20102020-1 Collection Account 2 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2020-2 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 2020-2 Percentage as of the beginning of such Series 2020-2 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2020-2 Interest Period, (3) third, to the Administrator, an amount equal to the Series 2020-2 Percentage as of the beginning of such Series 2020-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2020-2 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2020-2 Percentage as of the beginning of such Series 2020-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2020-2 Interest Period and (5) fifth, so long as the Series 2020-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2020-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2020 2 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102003-1 4 Accrued Interest Account and the Series 2003-4 Distribution Account, plus the amount, if any, drawn under the Series 2003-4 Letters of Credit and/or withdrawn from the Series 2003-4 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2003-4 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2003-4 Revolving Period or a Series 2003-4 Controlled Amortization Period, (1) first, to each Series 2003-4 Interest Rate Swap Counterparty, an amount equal to the AdministratorFixed Rate Payment due and owing under the applicable Series 2003-4 Interest Rate Swap for such Distribution Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-4 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102003-1 4 Percentage as of the beginning of the such Series 20102003-1 4 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102003-1 4 Interest Period; , (ii4) secondfourth, to the Trustee, in an amount equal to the Series 20102003-1 4 Percentage as of the beginning of the such Series 20102003-1 4 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees for such Series 20102003-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 4 Interest Period; , (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102003-1 4 Percentage as of the beginning of the such Series 20102003-1 4 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-1 4 Interest Period; and , (v6) fifthsixth, to each Series 2003-4 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2003-4 Interest Rate Swap (other than any Fixed Rate Payment) and (7) seventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102003-1 Accrued Interest 4 Collection Account by and deposited in the Trustee and Series 2003-4 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102003-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 4 Rapid Amortization Period, deposited into (1) first, to each Series 2003-4 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment due and owing under the applicable Series 2003-4 Interest Rate Swap for such Distribution Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-4 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102003-1 Collection Account and 4 Percentage as of the beginning of such Series 2003-4 Interest Period of the Trustee’s fees for such Series 2003-4 Interest Period, (4) fourth, to the Administrator, an amount equal to the Series 2003-4 Percentage as of the beginning of such Series 2003-4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2003-4 Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2003-4 Percentage as of the beginning of such Series 2003-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2003-4 Interest Period, (6) sixth, so long as the Series 2003-4 Invested Amount is greater than the Series 2003-4 Principal Allocations on such Distribution Date, an amount equal to the excess of the Series 2003-4 Invested Amount over the Series 2003-4 Principal Allocations on such Distribution Date shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2003-4 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2003-4 Interest Rate Swap (other than any Fixed Rate Payment).

Appears in 1 contract

Samples: Series Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 2.3(a) of this Series Supplement), if any, of the amounts available from the Series 20102002-1 Accrued Interest Account plus the amount, if any, drawn under the Series 2002-1 Letters of Credit and/or withdrawn from the Series 2002-1 Cash Collateral Account pursuant to Section 2.3(c) of this Supplement plus the amount, if any, withdrawn from the Series 2002-1 Reserve Account pursuant to Section 2.3(d) of this Supplement as follows: (i) on each Distribution Date during the Series 2002-1 Revolving Period or a Series 2002-1 Controlled Amortization Period, (1) first, to the AdministratorSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2002-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Administrator, an amount equal to the Series 20102002-1 Percentage as of the beginning of the such Series 20102002-1 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102002-1 Interest Period; , (ii3) secondthird, to the Trustee, in an amount equal to the Series 20102002-1 Percentage as of the beginning of the such Series 20102002-1 Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 20102002-1 Interest Period; , (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102002-1 Percentage as of the beginning of the such Series 20102002-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102002-1 Interest Period and (5) fifth, the balance, if any ("Excess Collections"), shall be withdrawn by the Paying Agent from the Series 2002-1 Collection Account and deposited in the Series 2002-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2002-1 Rapid Amortization Period, (1) first, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2002-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Trustee, an amount equal to the Series 2002-1 Percentage as of the beginning of such Series 2002-1 Interest Period of the Trustee's fees for such Series 2002-1 Interest Period; and , (v3) third, to the Administrator, an amount equal to the Series 2002-1 Percentage as of the beginning of such Series 2002-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2002-1 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2002-1 Percentage as of the beginning of such Series 2002-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2002-1 Interest Period and (5) fifth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series 2002 1 Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102011-1 2 Accrued Interest Account and the Series 2011-2 Distribution Account, plus the amount, if any, drawn under the Series 2011-2 Letters of Credit and/or withdrawn from the Series 2011-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2011-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2011-2 Revolving Period or the Series 2011-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102011-1 2 Percentage as of the beginning of the Series 20102011-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102011-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102011-1 2 Percentage as of the beginning of the such Series 20102011-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102011-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102011-1 2 Percentage as of the beginning of such Series 2011-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102011-1 2 Collection Account and deposited in the Series 2011-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2011-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2011-2 Percentage as of the beginning of such Series 2011-2 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102011-1 2 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if anyan amount equal to the Series 2011-2 Percentage as of the beginning of such Series 2011-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2011-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2011-2 Percentage as of the beginning of such Series 2011-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-2 Interest Period and (4) fourth, so long as the Series 2011-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2011-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement3.3(a)), if any, of the amounts available from the Series 20102002-1 4 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2002-4 Revolving Period, (1) first, to the Administrator, in an amount equal to the Series 20102002-1 4 Percentage as of the beginning of the such Series 20102002-1 4 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102002-1 4 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102002-1 4 Percentage as of the beginning of the such Series 20102002-1 4 Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 20102002-1 4 Interest Period that remain unpaid on such Payment Date; Period, (iii3) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102002-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period; 4 Distribution Account to pay any Article VII Costs, (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102002-1 4 Percentage as of the beginning of the such Series 20102002-1 4 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102002-1 4 Interest PeriodPeriod and (5) fifth, the balance, if any ("EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent -39- from the Series 2002-4 Collection Account and deposited in the Series 2002-4 Excess Collection Account; and (vii) on each Distribution Date during the Series 2002-4 Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2002-4 Percentage as of the beginning of such Series 2002-4 Interest Period of the Trustee's fees for such Series 2002-4 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2002-4 Percentage as of the beginning of such Series 2002-4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2002-4 Interest Period, (3) third, to the Series 2002-4 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2002-4 Percentage as of the beginning of such Series 2002-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2002-4 Interest Period and (5) fifth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series 2002 4 Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102020-1 2 Accrued Interest Account and the Series 2020-2 Distribution Account, plus the amount, if any, drawn under the Series 2020-2 Letters of Credit and/or withdrawn from the Series 2020-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2020-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2020-2 Revolving Period or the Series 2020-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102020-1 2 Percentage as of the beginning of the Series 20102020-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102020-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102020-1 2 Percentage as of the beginning of the such Series 20102020-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102020-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102020-1 2 Percentage as of the beginning of the such Series 20102020-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102020-1 2 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102020-1 Accrued Interest 2 Collection Account by and deposited in the Trustee and Series 2020-2 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102020-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 2 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102020-1 Collection Account 2 Percentage as of the beginning of such Series 2020-2 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2020-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2020-2 Percentage as of the beginning of such Series 2020-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2020-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2020-2 Percentage as of the beginning of such Series 2020-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2020-2 Interest Period and (4) fourth, so long as the Series 2020-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2020-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing 44 pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102024-1 2 Accrued Interest Account and the Series 2024-2 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2024-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2024-2 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2024-2 Revolving Period or the Series 2024-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102024-1 2 Percentage as of the beginning of the Series 20102024-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102024-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102024-1 2 Percentage as of the beginning of the such Series 20102024-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102024-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102024-1 2 Percentage as of the beginning of the such Series 20102024-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102024-1 2 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102024-1 Accrued Interest 2 Collection Account by and deposited in the Trustee and Series 2024-2 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102024-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 2 Rapid Amortization Period, deposited into (1) first, to the Series 20102024-1 Collection Account 2 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2024-2 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 2024-2 Percentage as of the beginning of such Series 2024-2 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2024-2 Interest Period, (3) third, to the Administrator, an amount equal to the Series 2024-2 Percentage as of the beginning of such Series 2024-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2024-2 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2024-2 Percentage as of the beginning of such Series 2024-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2024-2 Interest Period and (5) fifth, so long as the Series 2024-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2024-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2024 2 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102007-1 2 Accrued Interest Account and the Series 2007-2 Distribution Account, plus the amount, if any, drawn under the Series 2007-2 Letters of Credit and/or withdrawn from the Series 2007-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2007-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2007-2 Revolving Period or the Series 2007-2 Controlled Amortization Period, (1) first, to each Series 2007-2 Interest Rate Swap Counterparty, an amount equal to the AdministratorFixed Rate Payment for such Distribution Date due and owing to such Series 2007-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2007-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102007-1 2 Percentage as of the beginning of the Series 20102007-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102007-1 2 Interest Period; , (ii4) secondfourth, to the Trustee, in an amount equal to the Series 20102007-1 2 Percentage as of the beginning of the such Series 20102007-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102007-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102007-1 2 Percentage as of the beginning of such Series 2007-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2007-2 Interest Period, (6) sixth, to each Series 2007-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2007-2 Interest Rate Swap (other than any Fixed Rate Payment) and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102007-1 2 Collection Account and deposited in the Series 2007-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2007-2 Rapid Amortization Period, (1) first, to each Series 2007-2 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2007-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2007-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 2007-2 Percentage as of the beginning of such Series 2007-2 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102007-1 2 Interest Period; and , (v4) fourth, to the Administrator, an amount equal to the Series 2007-2 Percentage as of the beginning of such Series 2007-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2007-2 Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the balancePersons to whom such amounts are owed, if anyan amount equal to the Series 2007-2 Percentage as of the beginning of such Series 2007-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2007-2 Interest Period, (6) sixth, so long as the Series 2007-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2007-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal CollectionsCollections and (7) seventh, to each Series 2007-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2007-2 Interest Rate Swap (other than any Fixed Rate Payment).

Appears in 1 contract

Samples: Series 2007 2 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102020-1 Accrued Interest Account and the Series 2020-1 Distribution Account, plus the amount, if any, drawn under the Series 2020-1 Letters of Credit and/or withdrawn from the Series 2020-1 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2020-1 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2020-1 Revolving Period or the Series 2020-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102020-1 Percentage as of the beginning of the Series 20102020-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102020-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102020-1 Percentage as of the beginning of such Series 2020-1 Interest Period of the fees owing to the Trustee under the Base Indenture for such Series 2020-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102020-1 Percentage as of the beginning of such Series 2020-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2020-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2020-1 Collection Account and deposited in the Series 2020-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2020-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2020-1 Percentage as of the beginning of such Series 2020-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Base Indenture for such Series 20102020-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102020-1 Percentage as of the beginning of the such Series 20102020-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102020-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102020-1 Percentage as of the beginning of the such Series 20102020-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102020-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2020-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2020-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2020 1 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102011-1 Accrued Interest Account and the Series 2011-1 Distribution Account, plus the amount, if any, drawn under the Series 2011-1 Letters of Credit and/or withdrawn from the Series 2011-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2011-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2011-1 Revolving Period or the Series 2011-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102011-1 Percentage as of the beginning of the Series 20102011-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102011-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102011-1 Percentage as of the beginning of such Series 2011-1 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2011-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102011-1 Percentage as of the beginning of such Series 2011-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-1 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2011-1 Collection Account and deposited in the Series 2011-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2011-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2011-1 Percentage as of the beginning of such Series 2011-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Indenture for such Series 20102011-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102011-1 Percentage as of the beginning of the such Series 20102011-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102011-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102011-1 Percentage as of the beginning of the such Series 20102011-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102011-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2011-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2011-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102014-1 2 Accrued Interest Account and the Series 2014-2 Distribution Account, plus the amount, if any, drawn under the Series 2014-2 Letters of Credit and/or withdrawn from the Series 2014-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2014-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2014-2 Revolving Period or the Series 2014-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102014-1 2 Percentage as of the beginning of the Series 20102014-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102014-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102014-1 2 Percentage as of the beginning of the such Series 20102014-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102014-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102014-1 2 Percentage as of the beginning of such Series 2014-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2014-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102014-1 2 Collection Account and deposited in the Series 2014-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2014-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2014-2 Percentage as of the beginning of such Series 2014-2 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102014-1 2 Interest Period; and , (v2) fifthsecond, to the balanceAdministrator, if anyan amount equal to the Series 2014-2 Percentage as of the beginning of such Series 2014-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2014-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2014-2 Percentage as of the beginning of such Series 2014-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2014-2 Interest Period and (4) fourth, so long as the Series 2014-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2014-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On the fourth Business Day prior to each Payment Date, the Series 2010-2 Administrator shall instruct the Trustee in writing pursuant to the Series 2010-2 Administration Agreement to pay, on such Payment Date, the balance (after making the payments required in Section 3.4 9.3 of this Series Supplement), if any, of the amounts available from the Series 2010-1 2 Accrued Interest Account as follows: (i) first, to the Series 2010-2 Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the 2 Monthly Administration Fee for such Series 2010-1 2 Interest Period; (ii) second, to the Trustee, in an amount equal to the Series 2010-1 2 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of any Trustee’s fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 2 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up AdministratorTrustee’s fees for such Series 2010-1 2 Interest Period; (iviii) fourththird, on a pro rata basis, to pay any Indenture Carrying Charges (other than any Indenture Carrying Charges provided for aboverelating solely to one or more Series of Notes and/or Other Segregated Series of Notes) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 2010-1 2 Percentage as of the beginning of the Series 2010-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above (which, for the avoidance of doubt, shall include the Indenture Carrying Charges owed to the Series 2010-2 Noteholders)) for such Series 2010-1 2 Interest Period; (iv) fourth, on a pro rata basis, to pay any Series 2010-2 Carrying Charges (other than Indenture Carrying Charges provided for above) to the Persons to whom such amounts are owed for such Series 2010-2 Interest Period; and (v) fifth, the balance, if any, shall be withdrawn from the Series 2010-1 2 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 2 Revolving Period, deposited into the Series 2010-1 2 Excess Collection Account or (B) during the Series 2010-1 2 Controlled Amortization Period or the Series 2010-2 Rapid Amortization Period, deposited into the Series 2010-1 2 Collection Account and treated as Series 2010-2 Principal Collections; provided, that, it is understood and agreed that any payments of Indenture Carrying Charges made pursuant to clauses (ii) and (iii) above with respect to any Payment Date shall be deemed made prior to the determination and payment of any “Indenture Carrying Charges” (as defined in the applicable Series Supplement) pursuant to any Series Supplement relating to a Series of Notes in respect of such Payment Date.

Appears in 1 contract

Samples: Supplement to Base Indenture (Hertz Global Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102005-1 2 Accrued Interest Account and the Series 2005-2 Distribution Account, plus the amount, if any, drawn under the Series 2005-2 Letters of Credit and/or withdrawn from the Series 2005-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2005-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2005-2 Revolving Period or the Series 2005-2 Controlled Amortization Period, (1) first, to each Series 2005-2 Interest Rate Swap Counterparty, an amount equal to the AdministratorFixed Rate Payment for such Distribution Date due and owing to such Series 2005-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102005-1 2 Percentage as of the beginning of the Series 20102005-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102005-1 2 Interest Period; , (ii4) secondfourth, to the Trustee, in an amount equal to the Series 20102005-1 2 Percentage as of the beginning of the such Series 20102005-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Indenture for such Series 20102005-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102005-1 2 Percentage as of the beginning of such Series 2005-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2005-2 Interest Period, (6) sixth, to each Series 2005-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2005-2 Interest Rate Swap (other than any Fixed Rate Payment) and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102005-1 2 Collection Account and deposited in the Series 2005-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2005-2 Rapid Amortization Period, (1) first, to each Series 2005-2 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2005-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 2005-2 Percentage as of the beginning of such Series 2005-2 Interest Period ending on the day preceding such Payment Distribution Date of such the fees owing to the Trustee under the Indenture Carrying Charges for such Series 20102005-1 2 Interest Period; and , (v4) fourth, to the Administrator, an amount equal to the Series 2005-2 Percentage as of the beginning of such Series 2005-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2005-2 Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the balancePersons to whom such amounts are owed, if anyan amount equal to the Series 2005-2 Percentage as of the beginning of such Series 2005-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2005-2 Interest Period, (6) sixth, so long as the Series 2005-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2005-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal CollectionsCollections and (7) seventh, to each Series 2005-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2005-2 Interest Rate Swap (other than any Fixed Rate Payment).

Appears in 1 contract

Samples: Amended and Restated Series 2005 2 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102003-1 3 Accrued Interest Account and the Series 2003-3 Distribution Account, plus the amount, if any, drawn under the Series 2003-3 Letters of Credit and/or withdrawn from the Series 2003-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2003-3 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2003-3 Revolving Period or a Series 2003-3 Controlled Amortization Period, (1) first, to the AdministratorSeries 2003-3 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-3 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102003-1 3 Percentage as of the beginning of the such Series 20102003-1 3 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102003-1 3 Interest Period; , (ii4) secondfourth, to the Trustee, in an amount equal to the Series 20102003-1 3 Percentage as of the beginning of the such Series 20102003-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees for such Series 20102003-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 3 Interest Period; , (iv5) fourth, on a pro rata basisfifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102003-1 3 Percentage as of the beginning of the such Series 20102003-1 3 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-1 3 Interest Period; and , (v6) fifthsixth, to the Series 2003-3 Interest Rate Swap Counterparty, any amounts due and owing under the Series 2003-3 Interest Rate Swap (other than any Fixed Rate Payment) and (7) seventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102003-1 Accrued Interest 3 Collection Account by and deposited in the Trustee and Series 2003-3 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102003-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 3 Rapid Amortization Period, deposited into (1) first, to the Series 20102003-1 Collection Account 3 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-3 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 2003-3 Percentage as of the beginning of such Series 2003-3 Interest Period of the Trustee’s fees for such Series 2003-3 Interest Period, (4) fourth, to the Administrator, an amount equal to the Series 2003-3 Percentage as of the beginning of such Series 2003-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2003-3 Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2003-3 Percentage as of the beginning of such Series 2003-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2003-3 Interest Period, (6) sixth, so long as the Series 2003-3 Invested Amount is greater than the Series 2003-3 Principal Allocations on such Distribution Date, an amount equal to the excess of the Series 2003-3 Invested Amount over the Series 2003-3 Principal Allocations on such Distribution Date shall be treated as Principal CollectionsCollections and (7) seventh, to the Series 2003-3 Interest Rate Swap Counterparty, any amounts due and owing under the Series 2003-3 Interest Rate Swap (other than any Fixed Rate Payment).

Appears in 1 contract

Samples: Series Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 2.3(a) of this Series Supplement), if any, of the amounts available from Series 2001-1 Interest Rate Cap Proceeds and Interest Collections allocated to holders of the Series 20102001-1 Accrued Interest Account Notes since the preceding Distribution Date as follows: (i) on each Distribution Date during the Series 2001-1 Revolving Period or the Series 2001-1 Controlled Amortization Period, (1) first, to the AdministratorSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2001-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Administrator, an amount equal to the Series 20102001-1 Percentage as of the beginning of the such Series 20102001-1 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102001-1 Interest Period; , (ii3) secondthird, to the Trustee, in an amount equal to the Series 20102001-1 Percentage as of the beginning of the such Series 20102001-1 Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 2010-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 20102001-1 Interest Period; , (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102001-1 Percentage as of the beginning of the such Series 20102001-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102001-1 Interest Period and (5) fifth, the balance, if any ("Excess Collections"), shall be withdrawn by the Paying Agent from the Series 2001-1 Collection Account and deposited in the Series 2001-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2001-1 Rapid Amortization Period, (1) first, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2001-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Trustee, an amount equal to the Series 2001-1 Percentage as of the beginning of such Series 2001-1 Interest Period of the Trustee's fees for such Series 2001-1 Interest Period; and , (v3) third, to the Administrator, an amount equal to the Series 2001-1 Percentage as of the beginning of such Series 2001-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2001-1 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2001-1 Percentage as of the beginning of such Series 2001-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2001-1 Interest Period and (5) fifth, the balance, if any, shall constitute Excess Collections and shall be withdrawn by the Paying Agent from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 20102001-1 Collection Account and treated as Principal Collectionsdeposited in the Series 2001-1 Excess Collection Account.

Appears in 1 contract

Samples: Amended and Restated Series 2001 1 Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement3.3(a)), if any, of the amounts available from the Series 20102002-1 2 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2002-2 Revolving Period, (1) first, to the Administrator, in an amount equal to the Series 20102002-1 2 -43- Percentage as of the beginning of the such Series 20102002-1 2 Interest Period ending on of the day preceding such Payment Date portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102002-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102002-1 2 Percentage as of the beginning of the such Series 20102002-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s 's fees for such Series 20102002-1 2 Interest Period that remain unpaid on such Payment Date; Period, (iii3) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102002-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period; 2 Distribution Account to pay any Article VII Costs, (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102002-1 2 Percentage as of the beginning of the such Series 20102002-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102002-1 2 Interest PeriodPeriod and (5) fifth, the balance, if any ("EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent from the Series 2002-2 Collection Account and deposited in the Series 2002-2 Excess Collection Account; and (vii) on each Distribution Date during the Series 2002-2 Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2002-2 Percentage as of the beginning of such Series 2002-2 Interest Period of the Trustee's fees for such Series 2002-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2002-2 Percentage as of the beginning of such Series 2002-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2002-2 Interest Period, (3) third, to the Series 2002-2 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2002-2 Percentage as of the beginning of such Series 2002-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2002-2 Interest Period and (5) fifth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series 2002 2 Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102017-1 2 Accrued Interest Account and the Series 2017-2 Distribution Account, plus the amount, if any, drawn under the Series 2017-2 Letters of Credit and/or withdrawn from the Series 2017-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2017-2 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2017-2 Revolving Period or the Series 2017-2 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102017-1 2 Percentage as of the beginning of the Series 20102017-1 2 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102017-1 2 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102017-1 2 Percentage as of the beginning of the such Series 20102017-1 2 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102017-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 2 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102017-1 2 Percentage as of the beginning of the such Series 20102017-1 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102017-1 2 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102017-1 Accrued Interest 2 Collection Account by and deposited in the Trustee and Series 2017-2 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102017-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 2 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102017-1 Collection Account 2 Percentage as of the beginning of such Series 2017-2 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2017-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2017-2 AMERICAS 93983148 (2K) 34 Percentage as of the beginning of such Series 2017-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2017-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2017-2 Percentage as of the beginning of such Series 2017-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2017-2 Interest Period and (4) fourth, so long as the Series 2017-2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2017-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series 2017 2 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102018-1 Accrued Interest Account and the Series 2018-1 Distribution Account, plus the amount, if any, drawn under the Series 2018-1 Letters of Credit and/or withdrawn from the Series 2018-1 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2018-1 Reserve Accounts pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2018-1 Revolving Period or the Series 2018-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102018-1 Percentage as of the beginning of the Series 20102018-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102018-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102018-1 Percentage as of the beginning of such Series 2018-1 Interest Period of the fees owing to the Trustee under the Base Indenture for such Series 2018-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102018-1 Percentage as of the beginning of such Series 2018-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2018-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2018-1 Collection Account and deposited in the Series 2018-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2018-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2018-1 Percentage as of the beginning of such Series 2018-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Base Indenture for such Series 20102018-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102018-1 Percentage as of the beginning of the such Series 20102018-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102018-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102018-1 Percentage as of the beginning of the such Series 20102018-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102018-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2018-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2018-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Amended and Restated Series Supplement (Avis Budget Group, Inc.)

BALANCE. On the fourth Business Day or prior to the second Busi-ness Day preceding each Payment Distribution Date, the Administrator Adminis-trator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series SupplementSec-tion 3.3(a)), if any, of the amounts available from the Series 20102005-1 3 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2005-3 Revolving Period or the Series 2005-3 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102005-1 3 Percentage as of the beginning of the such Series 20102005-1 3 Interest Period ending on of the day preceding such Payment Date por-tion of the Monthly Administration Fee pay-able by CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102005-1 3 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102005-1 3 Percentage as of the beginning of the such Series 20102005-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees for such Series 20102005-1 3 Interest Period that remain unpaid on such Payment Date; Period, (iii3) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102005-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period; 3 Distribution Account to pay any Article VII Costs, (iv4) fourth, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102005-1 3 Percentage as of the beginning of the such Series 20102005-1 3 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102005-1 3 Interest PeriodPeriod and (5) fifth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2005-3 Collection Account and deposited in the Series 2005-3 Excess Collection Account; and (vii) on each Distribution Date during the Series 2005-3 Rapid Amorti-zation Period, (1) first, to the Trustee, an amount equal to the Series 2005-3 Percentage as of the beginning of such Series 2005-3 Interest Period of the Trustee’s fees for such Series 2005-3 Interest Peri-od, (2) second, to the Adminis-tra-tor, an amount equal to the Series 2005-3 Percentage as of the beginning of such Series 2005-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by CRCF for such Series 2005-3 Interest Period, (3) third, to the Series 2005-3 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2005-3 Percentage as of the beginning of such Series 2005-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2005-3 Interest Period and (5) fifth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Cendant Corp)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102023-1 3 Accrued Interest Account and the Series 2023-3 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-3 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2023-3 Revolving Period or the Series 2023-3 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102023-1 3 Percentage as of the beginning of the Series 20102023-1 3 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-1 3 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102023-1 3 Percentage as of the beginning of the such Series 20102023-1 3 Interest Period ending on of the day preceding such Payment Date of any Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-1 Interest Period that remain unpaid on such Payment Date; (iii) third, on a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 3 Interest Period; , (iv3) fourth, on a pro rata basis, third to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102023-1 3 Percentage as of the beginning of the such Series 20102023-1 3 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-1 3 Interest Period; and Period and (v4) fifthfourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 20102023-1 Accrued Interest 3 Collection Account by and deposited in the Trustee and Series 2023-3 Excess Collection Account; and (Aii) on each Distribution Date during the Series 20102023-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 3 Rapid Amortization Period, deposited into (1) first, to the Trustee, an amount equal to the Series 20102023-1 Collection Account 3 Percentage as of the beginning of such Series 2023-3 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Base Indenture for such Series 2023-3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2023-3 Percentage as of the beginning of such Series 2023-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-3 Percentage as of the beginning of such Series 2023-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-3 Interest Period and (4) fourth, so long as the Series 2023-3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2023-3 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102023-1 Accrued Interest Account and the Series 2023-1 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2023-1 Revolving Period or the Series 2023-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102023-1 Percentage as of the beginning of the Series 20102023-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102023-1 Percentage as of the beginning of such Series 2023-1 Interest Period of the fees owing to the Trustee under the Base Indenture for such Series 2023-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-1 Percentage as of the beginning of such Series 2023-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-1 Collection Account and deposited in the Series 2023-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2023-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2023-1 Percentage as of the beginning of such Series 2023-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Base Indenture for such Series 20102023-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102023-1 Percentage as of the beginning of the such Series 20102023-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102023-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102023-1 Percentage as of the beginning of the such Series 20102023-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2023-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2023-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the fourth second Business Day prior to preceding each Payment Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay, on such Payment Date, pay the balance (after making the payments required in Section 3.4 of this Series Supplement2.4), if any, of the amounts available from the Series 20102020-1 Accrued Interest Account and the Series 2020-1 Distribution Account, plus the amount, if any, drawn under the Series 2020-1 Letters of Credit and/or withdrawn from the Series 2020-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2020-1 Reserve Account pursuant to Section 2.3(d) as follows: (i) on each Distribution Date during the Series 2020-1 Revolving Period or the Series 2020-1 Controlled Amortization Period, (1) first, to the Administrator, in an amount equal to the Series 20102020-1 Percentage as of the beginning of the Series 20102020-1 Interest Period ending on the day preceding such Payment Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102020-1 Interest Period; , (ii2) second, to the Trustee, in an amount equal to the Series 20102020-1 Percentage as of the beginning of such Series 2020-1 Interest Period of the fees owing to the Trustee under the Base Indenture for such Series 2020-1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102020-1 Percentage as of the beginning of such Series 2020-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2020-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2020-1 Collection Account and deposited in the Series 2020-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 2020-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2020-1 Percentage as of the beginning of such Series 2020-1 Interest Period ending on the day preceding such Payment Distribution Date of any Trustee’s the fees owing to the Trustee under the Base Indenture for such Series 20102020-1 Interest Period that remain unpaid on such Payment Date; Period, (iii2) third, on a pro rata basissecond, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 20102020-1 Percentage as of the beginning of the such Series 20102020-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and portion of the Back-Up Administrator’s fees Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102020-1 Interest Period; , (iv3) fourth, on a pro rata basisthird, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 20102020-1 Percentage as of the beginning of the such Series 20102020-1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 20102020-1 Interest Period; and Period and (v4) fifthfourth, so long as the balanceSeries 2020-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, if any, an amount equal to the excess of the Series 2020-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

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