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Common use of BALANCE Clause in Contracts

BALANCE. On each Distribution Date, the Servicer shall instruct the Trustee in writing to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement), if any, of the Interest Collections allocated to the Series 1999-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) as follows: (i) on each Distribution Date during the Series 1999-1 Revolving Period, (1) first, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (2) second, to the Trustee, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from the Series 1999-1 Collection Account and paid to the Issuer; and (ii) on each Distribution Date during the Series 1999-1 Rapid Amortization Period, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplement.

Appears in 2 contracts

Samples: Fifth Amended and Restated Series 1999 1 Supplement (Vanguard Car Rental Group Inc.), Series Supplement (Vanguard Car Rental Group Inc.)

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BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement)), if any, of the Interest Collections allocated to amounts available from the Series 19992004-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) 4 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 19992004-1 4 Revolving Period, (1) first, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 CRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2004-4 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992004-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2004-4 Interest Period of the Trustee’s fees for the such Series 19992004-1 4 Interest Period ending on such current Distribution DatePeriod, (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, in an amount equal to the Series 19992004-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2004-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992004-1 4 Interest Period Period, and (45) fourthfifth, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992004-1 4 Collection Account and paid to deposited in the IssuerSeries 2004-4 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992004-1 Rapid 4 Amortization Period, (1) first, to the Trustee, in an amount equal to the Series 19992004-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2004-4 Interest Period of the Trustee’s fees for the such Series 19992004-1 4 Interest Period ending on such current Distribution DatePeriod, (2) second, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to (as specified in clause (iii) of the Series 1999-1 Notes definition thereof) payable by the Issuer pursuant to Section 26.1 of the Lease on CRCF for such Distribution DateSeries 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, in an amount equal to the Series 19992004-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2004-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992004-1 4 Interest Period Period, and (45) fourthfifth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992023-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 3 Accrued Interest Account and the Series 19992023-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992023-1 3 Revolving Period or the Series 2023-3 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2023-3 Percentage as of the beginning of the Series 19992023-1 Notes 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2023-3 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992023-1 3 Percentage as of the immediately beginning of such Series 2023-3 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-3 Collection Account and deposited in the Series 2023-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 2023-3 Rapid Amortization Period, (1) first, 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 Trustee’s 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 19992023-1 3 Percentage as of the beginning of such Series 2023-3 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992023-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2023-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992023-1 3 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992023-1 Collection Account and paid to 3 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2023-3 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992009-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992009-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992009-1 Revolving Period or the Series 2009-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2009-1 Percentage as of the beginning of the Series 19992009-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2009-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992009-1 Percentage as of the immediately preceding 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 2009-1 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 Trustee’s fees for the beginning of such Series 19992009-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Indenture for such Series 2009-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2009-1 Percentage as of the beginning of such Series 2009-1 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 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, in an amount equal to the Series 19992009-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2009-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992009-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992009-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992009-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992014-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992014-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992014-1 2 Revolving Period or the Series 2014-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2014-2 Percentage as of the beginning of the Series 19992014-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2014-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992014-1 2 Percentage as of the immediately beginning of such Series 2014-2 Interest Period of the fees owing to the Trustee under the Indenture 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, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2014-2 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2014-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992014-1 2 Percentage as of the beginning of such Series 2014-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992014-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2014-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992014-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992014-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2014-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On the fourth Business Day prior to each Distribution Payment Date, the Servicer Series 2010-2 Administrator shall instruct the Trustee in writing pursuant to pay the Series 2010-2 Administration Agreement to pay, on such Payment Date, the balance (after making the payments required in Section 3.3(a) 9.3 of this Series Supplement), if any, of the Interest Collections allocated to amounts available from the Series 19992010-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) 2 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 1999-1 Revolving Period, (1) first, to the ServicerSeries 2010-2 Administrator, in an amount equal to the Series 2010-2 Monthly Servicing Administration Fee with respect to the for such Series 19992010-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, 2 Interest Period; (2ii) second, to the Trustee, in an amount equal to the Series 19992010-1 2 Percentage as of the immediately beginning of the Series 2010-2 Interest Period ending on the day preceding Distribution such Payment Date of the Trustee’s fees for the such Series 19992010-1 2 Interest Period ending on such current Distribution Date, Period; (3iii) third, 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) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992010-1 2 Percentage as of the immediately beginning of the Series 2010-2 Interest Period ending on the day preceding Distribution such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for aboveabove (which, for the avoidance of doubt, shall include the Indenture Carrying Charges owed to the Series 2010-2 Noteholders)) for such Series 19992010-1 2 Interest Period and Period; (4iv) fourth, the balance, if any, shall be withdrawn by the Trustee from the Series 1999-1 Collection Account and paid to the Issuer; and (ii) on each Distribution Date during the Series 1999-1 Rapid Amortization Period, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) thirda 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, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) owed for such Series 19992010-1 2 Interest Period and Period; and (4v) fourthfifth, the balance, if any, shall be applied to reduce withdrawn from the Series 19992010-1 Invested Amount on such current Distribution 2 Accrued Interest Account by the Trustee and (A) during the Series 2010-2 Revolving Period, deposited into the Series 2010-2 Excess Collection Account or (B) during the Series 2010-2 Controlled Amortization Period or the Series 2010-2 Rapid Amortization Period, deposited into the Series 2010-2 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 accordance with Section 3.4 of this 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992013-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992013-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992013-1 2 Revolving Period or the Series 2013-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2013-2 Percentage as of the beginning of the Series 19992013-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2013-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992013-1 2 Percentage as of the immediately beginning of such Series 2013-2 Interest Period of the fees owing to the Trustee under the Indenture 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, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2013-2 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2013-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992013-1 2 Percentage as of the beginning of such Series 2013-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992013-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2013-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992013-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992013-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2013-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992011-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992011-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992011-1 2 Revolving Period or the Series 2011-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2011-2 Percentage as of the beginning of the Series 19992011-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2011-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992011-1 2 Percentage as of the immediately beginning of such Series 2011-2 Interest Period of the fees owing to the Trustee under the Indenture 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, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2011-2 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2011-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992011-1 2 Percentage as of the beginning of such Series 2011-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992011-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2011-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992011-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992011-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2011-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992023-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992023-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992023-1 Revolving Period or the Series 2023-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2023-1 Percentage as of the beginning of the Series 19992023-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2023-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992023-1 Percentage as of the immediately preceding 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 2023-1 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 Trustee’s fees for the beginning of such Series 19992023-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Base Indenture for such Series 2023-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2023-1 Percentage as of the beginning of such Series 2023-1 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 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, in an amount equal to the Series 19992023-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2023-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992023-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992023-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992023-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992020-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992020-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992020-1 Revolving Period or the Series 2020-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2020-1 Percentage as of the beginning of the Series 19992020-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2020-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992020-1 Percentage as of the immediately preceding 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 2020-1 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 Trustee’s fees for the beginning of such Series 19992020-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Base Indenture for such Series 2020-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2020-1 Percentage as of the beginning of such Series 2020-1 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 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, in an amount equal to the Series 19992020-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2020-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992020-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992020-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992020-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992003-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 4 Accrued Interest Account and the Series 19992003-1 Noteholder during such period 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 3.3(c2.3(c) belowPLUS 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 19992003-1 4 Revolving Period or a Series 2003-4 Controlled Amortization Period, (1) first, to the Servicereach Series 2003-4 Interest Rate Swap Counterparty, in an amount equal to the Fixed Rate Payment due and owing under the applicable Series Monthly Servicing Fee with respect to the Series 19992003-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on 4 Interest Rate Swap for such Distribution Date, (2) second, to the TrusteeSurety Provider, in an amount equal to (x) the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Surety Provider Fee for the related Series 19992003-1 4 Interest Period ending on such current Distribution Dateand, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, 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 payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 2003-4 Interest Period, (4) fourth, to the Trustee, an amount equal to the Series 2003-4 Percentage as of the beginning of such Series 2003-4 Interest Period of the Trustee's fees for such Series 2003-4 Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999CONFORMED COPY 2003-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992003-1 4 Interest Period Period, (6) sixth, 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 (47) fourthseventh, the balance, if anyany ("EXCESS COLLECTIONS"), shall be withdrawn by the Trustee Paying Agent from the Series 19992003-1 4 Collection Account and paid to deposited in the IssuerSeries 2003-4 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992003-1 4 Rapid Amortization Period, (1) first, to the Trusteeeach Series 2003-4 Interest Rate Swap Counterparty, in an amount equal to the Fixed Rate Payment due and owing under the applicable Series 19992003-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees 4 Interest Rate Swap for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992003-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date4 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 2003-4 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, in an amount equal to the Series 19992003-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992003-1 4 Interest Period 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 Collections and (47) fourthseventh, to each Series 2003-4 Interest Rate Swap Counterparty, any amounts due and owing under the balance, if any, shall be applied to reduce the applicable Series 19992003-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplement4 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992011-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 5 Accrued Interest Account and the Series 19992011-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992011-1 5 Revolving Period or the Series 2011-5 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2011-5 Percentage as of the beginning of the Series 19992011-1 Notes 5 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2011-5 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992011-1 5 Percentage as of the immediately beginning of such Series 2011-5 Interest Period of the fees owing to the Trustee under the Indenture 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, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2011-5 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2011-5 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992011-1 5 Percentage as of the beginning of such Series 2011-5 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992011-1 5 Percentage as of the immediately preceding Distribution Date beginning of such Series 2011-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992011-1 5 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992011-1 Collection Account and paid to 5 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2011-5 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated 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 second Busi­ness Day preceding each Distribution Date, the Servicer Adminis­trator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section Sec­tion 3.3(a) of this Series Supplement)), if any, of the Interest Collections allocated to amounts available from the Series 19992008-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) Accrued Interest Account as follows: (i) on each Distribution Date during the Series 19992008-1 Revolving Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 19992008-1 Notes payable by the Issuer pursuant to Section 26.1 Percentage as of the Lease on beginning of such Distribution DateSeries 2008-1 Interest Period of the por­tion of the Monthly Administration Fee pay­able by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 2008-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992008-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2008-1 Interest Period of the Trustee’s fees for the such Series 19992008-1 Interest Period ending on such current Distribution DatePeriod, (3) 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, in an amount equal to the Series 19992008-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2008-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992008-1 Interest Period and (45) fourthfifth, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992008-1 Collection Account and paid to deposited in the IssuerSeries 2008-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992008-1 Rapid Amortization Amorti­zation Period, (1) first, to the Trustee, in an amount equal to the Series 19992008-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2008-1 Interest Period of the Trustee’s fees for the such Series 19992008-1 Interest Period ending on such current Distribution DatePeri­od, (2) second, to the ServicerAdminis­tra­tor, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 19992008-1 Notes 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 the Issuer pursuant to Section 26.1 of the Lease on ABRCF for such Distribution DateSeries 2008-1 Interest Period, (3) 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, in an amount equal to the Series 19992008-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2008-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992008-1 Interest Period and (45) fourthfifth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992023-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992023-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992023-1 2 Revolving Period or the Series 2023-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2023-2 Percentage as of the beginning of the Series 19992023-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2023-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992023-1 2 Percentage as of the immediately beginning of such Series 2023-2 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-2 Collection Account and deposited in the Series 2023-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2023-2 Rapid Amortization Period, (1) first, 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 Trustee’s 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 19992023-1 2 Percentage as of the beginning of such Series 2023-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992023-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2023-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992023-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992023-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2023-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution DateDate for the Series 2001-2 Notes of any Class, the Servicer Administrator shall instruct have instructed the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement), if any, of the Series 2001-2 Interest Rate Cap Proceeds and Interest Collections allocated to holders of the Series 19992001-1 Noteholder 2 Notes since the preceding Distribution Date (less any portion thereof paid related to the Series 19992001-1 Noteholder during 2 Notes of such period pursuant to Section 3.3(c) below) Class as follows: (i) on each Distribution Date during for the Series 19992001-1 Revolving 2 Notes of any Class prior to the commencement of the Series 2001-2 Rapid Amortization Period, (1) first, PRO RATA, to the ServicerAuction Agent, the Auction Agent Fee payable in an amount equal respect of the Series 2001-2 Notes of such Class on such Distribution Date, and to the Series Monthly Servicing Broker-Dealer, the Broker-Dealer Fee with payable in respect to of the Series 19992001-1 2 38 Notes payable by the Issuer pursuant to Section 26.1 of the Lease such Class on such Distribution Date, (2) second, to the TrusteeSurety Provider, in an amount equal to (x) the Surety Provider Fee with respect to the Series 19992001-1 Percentage as 2 Notes of the immediately preceding Distribution Date of the Trustee’s fees such Class for the Series 1999-1 related Interest Period ending on such current Distribution Dateand, 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 such Interest Period of the portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Interest Period, (4) fourth, 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, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992001-1 2 Class Percentage as of the immediately preceding Distribution Date beginning of such Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (46) fourthsixth, the balance, if anyany ("Excess Collections"), shall be withdrawn by the Trustee Paying Agent from the Series 19992001-1 2 Collection Account and paid to deposited in the IssuerSeries 2001-2 Excess Collection Account; and (ii) on each Distribution Date for the Series 2001-2 Notes of any Class during the Series 19992001-1 2 Rapid Amortization Period, (1) first, PRO RATA, to the TrusteeAuction Agent, the Auction Agent Fee payable in an amount equal respect of the Series 2001-2 Notes of such Class, and to the Series 1999Broker-1 Percentage as Dealer, the Broker-Dealer Fee payable in respect of the immediately preceding Distribution Date Series 2001-2 Notes of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution DateClass, (2) second, to the ServicerSurety Provider, in an amount equal to (x) the Series Monthly Servicing Surety Provider Fee with respect to the Series 1999-1 Notes payable by of such Class for the Issuer pursuant to Section 26.1 of the Lease on such Distribution Daterelated 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, in an amount equal to the Series 19992001-1 2 Class Percentage as of the immediately preceding Distribution Date beginning of such Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (46) fourthsixth, the balance, if any, shall constitute Excess Collections and shall be applied to reduce withdrawn by the Paying Agent from the Series 19992001-1 Invested Amount on such current Distribution Date 2 Collection Account and deposited in accordance with Section 3.4 of this the Series Supplement2001-2 Excess Collection Account.

Appears in 1 contract

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

BALANCE. On or prior to the second Busi-ness Day preceding each Distribution Date, the Servicer Adminis-trator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section Sec-tion 3.3(a) of this Series Supplement)), if any, of the Interest Collections allocated to amounts available from the Series 19992004-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) Accrued Interest Account as follows: (i) on each Distribution Date during the Series 19992004-1 Revolving Period or the Series 2004-1 Controlled Amortization Period, (1) first, to the Servicereach Series 2004-1 Interest Rate Hedge Counterparty, in an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series Monthly Servicing Fee with respect to the Series 19992004-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution DateInterest Rate Hedge Counterparty, (2) second, to the TrusteeAdministrator, in an amount equal to the Series 19992004-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2004-1 Interest Period of the por-tion of the Monthly Administration Fee pay-able by CRCF (as specified in clause (iii) of the definition thereof) for such Series 2004-1 Interest Period, (3) third, 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 the such Series 19992004-1 Interest Period ending on such current Distribution DatePeriod, (34) thirdfourth, 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, in an amount equal to the Series 19992004-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2004-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992004-1 Interest Period Period, (6) sixth, 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 (47) fourthseventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992004-1 Collection Account and paid to deposited in the IssuerSeries 2004-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992004-1 Rapid Amortization Amorti-zation Period, (1) first, to the Trusteeeach Series 2004-1 Interest Rate Hedge Counterparty, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Fixed Rate Payment for such Distribution Date of the Trustee’s fees for the due and owing to such Series 19992004-1 Interest Period ending on such current Distribution DateRate Hedge Counterparty, (2) second, to the ServicerTrustee, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 19992004-1 Notes payable by the Issuer pursuant to Section 26.1 Percentage as of the Lease on beginning of such Distribution DateSeries 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, in an amount equal to the Series 19992004-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2004-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992004-1 Interest Period and Period, (46) fourthsixth, the balance, if any, shall be applied to reduce so long as the Series 19992004-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of this the Series Supplement2004-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a2.3(a) of this Series Supplement), if any, of the Interest Collections allocated to amounts available from the Series 19992002-1 Noteholder since Accrued Interest Account plus the preceding Distribution Date (less any portion thereof paid to amount, if any, drawn under the Series 19992002-1 Noteholder during such period Letters of Credit and/or withdrawn from the Series 2002-1 Cash Collateral Account pursuant to Section 3.3(c2.3(c) belowof 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 19992002-1 Revolving Period or a Series 2002-1 Controlled Amortization Period, (1) first, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992002-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution DateInterest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the TrusteeAdministrator, in an amount equal to the Series 19992002-1 Percentage as of the immediately preceding Distribution Date beginning of the Trustee’s fees for the such Series 19992002-1 Interest Period ending on of the portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such current Distribution DateSeries 2002-1 Interest Period, (3) third, 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, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992002-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992002-1 Interest Period and (45) fourthfifth, the balance, if anyany ("Excess Collections"), shall be withdrawn by the Trustee Paying Agent from the Series 19992002-1 Collection Account and paid to deposited in the IssuerSeries 2002-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992002-1 Rapid Amortization Period, (1) first, to the TrusteeSurety Provider, in an amount equal to (x) the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Surety Provider Fee for the related Series 19992002-1 Interest Period ending on such current Distribution Dateand, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the ServicerTrustee, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 19992002-1 Notes payable by the Issuer pursuant to Section 26.1 Percentage as of the Lease on beginning of such Distribution DateSeries 2002-1 Interest Period of the Trustee's fees for such Series 2002-1 Interest Period, (3) 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, in an amount equal to the Series 19992002-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992002-1 Interest Period and (45) fourthfifth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992022-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 5 Accrued Interest Account and the Series 19992022-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992022-1 5 Revolving Period or the Series 2022-5 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2022-5 Percentage as of the beginning of the Series 19992022-1 Notes 5 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2022-5 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992022-1 5 Percentage as of the immediately beginning of such Series 2022-5 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2022-5 Collection Account and deposited in the Series 2022-5 Excess Collection Account; and (ii) on each Distribution Date during the Series 2022-5 Rapid Amortization Period, (1) first, 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 Trustee’s 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 19992022-1 5 Percentage as of the beginning of such Series 2022-5 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992022-1 5 Percentage as of the immediately preceding Distribution Date beginning of such Series 2022-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992022-1 5 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992022-1 Collection Account and paid to 5 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2022-5 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992005-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 4 Accrued Interest Account and the Series 19992005-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992005-1 4 Revolving Period or a Series 2005-4 Controlled Amortization Period, (1) first, to the Servicereach Series 2005-4 Interest Rate Swap Counterparty, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on Fixed Rate Payment for such Distribution DateDate due and owing to such Series 2005-4 Interest Rate Swap Counterparty, (2) second, to the TrusteeSurety Provider, in an amount equal to (x) the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Surety Provider Fee for the related Series 19992005-1 4 Interest Period ending on such current Distribution Dateand, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 2005-4 Percentage as of the beginning of the Series 2005-4 Interest Period ending on the day preceding such 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 2005-4 Interest Period, (4) fourth, to the Trustee, an amount equal to the Series 2005-4 Percentage as of the beginning of such Series 2005-4 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2005-4 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, in an amount equal to the Series 19992005-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2005-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992005-1 4 Interest Period 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 (47) fourthseventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992005-1 4 Collection Account and paid to deposited in the IssuerSeries 2005-4 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992005-1 4 Rapid Amortization Period, (1) first, to the Trusteeeach Series 2005-4 Interest Rate Swap Counterparty, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Fixed Rate Payment for such Distribution Date of the Trustee’s fees for the due and owing to such Series 19992005-1 4 Interest Period ending on such current Distribution DateRate Swap Counterparty, (2) second, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992005-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date4 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 Distribution Date of the fees owing to the Trustee under the Indenture for such Series 2005-4 Interest Period, (4) 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 Persons to whom such amounts are owed, in an amount equal to the Series 19992005-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2005-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992005-1 4 Interest Period 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 treated as Principal Collections and (47) fourthseventh, to each Series 2005-4 Interest Rate Swap Counterparty, any amounts due and owing under the balance, if any, shall be applied to reduce the applicable Series 19992005-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplement4 Interest Rate Swap (other than any Fixed Rate Payment).

Appears in 1 contract

Samples: Series Supplement (Cendant Corp)

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992023-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 5 Accrued Interest Account and the Series 19992023-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992023-1 5 Revolving Period or the Series 2023-5 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2023-5 Percentage as of the beginning of the Series 19992023-1 Notes 5 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2023-5 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992023-1 5 Percentage as of the immediately beginning of such Series 2023-5 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-5 Collection Account and deposited in the Series 2023-5 Excess Collection Account; and (ii) on each Distribution Date during the Series 2023-5 Rapid Amortization Period, (1) first, 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 Trustee’s 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 19992023-1 5 Percentage as of the beginning of such Series 2023-5 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992023-1 5 Percentage as of the immediately preceding Distribution Date beginning of such Series 2023-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992023-1 5 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992023-1 Collection Account and paid to 5 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2023-5 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992003-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 4 Accrued Interest Account and the Series 19992003-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992003-1 4 Revolving Period or a Series 2003-4 Controlled Amortization Period, (1) first, to the Servicereach Series 2003-4 Interest Rate Swap Counterparty, in an amount equal to the Fixed Rate Payment due and owing under the applicable Series Monthly Servicing Fee with respect to the Series 19992003-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on 4 Interest Rate Swap for such Distribution Date, (2) second, to the TrusteeSurety 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 19992003-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-4 Interest Period of the portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 2003-4 Interest Period, (4) fourth, to the Trustee, an amount equal to the Series 2003-4 Percentage as of the beginning of such Series 2003-4 Interest Period of the Trustee’s fees for the such Series 19992003-1 4 Interest Period ending on such current Distribution DatePeriod, (35) thirdfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992003-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992003-1 4 Interest Period Period, (6) sixth, 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 (47) fourthseventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992003-1 4 Collection Account and paid to deposited in the IssuerSeries 2003-4 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992003-1 4 Rapid Amortization Period, (1) first, to the Trusteeeach Series 2003-4 Interest Rate Swap Counterparty, in an amount equal to the Fixed Rate Payment due and owing under the applicable Series 19992003-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees 4 Interest Rate Swap for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992003-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date4 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 2003-4 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, in an amount equal to the Series 19992003-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992003-1 4 Interest Period 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 Collections and (47) fourthseventh, to each Series 2003-4 Interest Rate Swap Counterparty, any amounts due and owing under the balance, if any, shall be applied to reduce the applicable Series 19992003-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplement4 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992006-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992006-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992006-1 Revolving Period or the Series 2006-1 Con­trolled Amortization Period, (1) first, to the Servicereach Series 2006-1 Interest Rate Swap Counterparty, in an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series Monthly Servicing Fee with respect to the Series 19992006-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution DateInterest Rate Swap Counterparty, (2) second, to the TrusteeSurety 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 19992006-1 Percentage as of the immediately preceding Distribution Date beginning of the Trustee’s fees for the Series 19992006-1 Interest Period ending on the day preceding such current Distribution DateDate of the portion of the Monthly Administration Fee pay­able by CRCF (as specified in clause (iii) of the definition thereof) for such Series 2006-1 Interest Period, (4) fourth, to the Trustee, an amount equal to the Series 2006-1 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 2006-1 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 Distribution Date of the fees owing to the Trustee under the Indenture for such Series 2006-1 Interest Peri­od, (4) fourth, to the Administra­tor, an amount equal to the Series 2006-1 Percentage as of the beginning of such Series 2006-1 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 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, in an amount equal to the Series 19992006-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2006-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992006-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from the Series 1999-1 Collection Account and paid to the Issuer; and (ii) on each Distribution Date during the Series 1999-1 Rapid Amortization Period, (16) firstsixth, to so long as the TrusteeSeries 2006-1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992006-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections and (7) seventh, to each Series Supplement2006-1 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 Distribution Payment Date, the Servicer Administrator shall instruct the Trustee in writing pursuant to pay the Administration Agreement to pay, on such Payment Date, the balance (after making the payments required in Section 3.3(a) 2.4 of this Series Supplement), if any, of the Interest Collections allocated to amounts available from the Series 19992005-1 Noteholder since 2 Accrued Interest Account plus the preceding Distribution Date (less any portion thereof paid to amount, if any, withdrawn from the Series 1999-1 Noteholder during such period Class A Reserve Account pursuant to Section 3.3(c2.3(d)(i) belowof 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 Distribution Interest Rate Hedge Provider, in an amount equal to the portion of the Monthly Hedge Payment for such Payment Date during the Series 1999-1 Revolving Period, payable to such Interest Rate Hedge Provider; (1ii) firstsecond, to the ServicerInsurer, 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 Monthly Servicing Fee with respect to 2005-2 Percentage as of the beginning of the Series 19992005-1 Notes payable by 2 Interest Period ending on the Issuer pursuant to Section 26.1 day preceding such Payment Date of the Lease on Monthly Administration Fee for such Distribution Date, Series 2005-2 Interest Period; (2iv) secondfourth, to the Trustee, in an amount equal to the Series 19992005-1 2 Percentage as of the immediately beginning of the Series 2005-2 Interest Period ending on the day preceding Distribution such Payment Date of the Trustee’s fees for the such Series 19992005-1 2 Interest Period ending Period; (v) fifth, on such current Distribution Datea pro rata basis, (3x) thirdto 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)) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992005-1 2 Percentage as of the immediately beginning of the Series 2005-2 Interest Period ending on the day preceding Distribution such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 19992005-1 2 Interest Period and Period; and (4vi) fourthsixth, the balance, if any, shall be withdrawn from the Series 2005-2 Accrued Interest Account by the Trustee from the Series 1999-1 Collection Account and paid to the Issuer; and (iiA) on each Distribution Date during the Series 19992005-1 2 Revolving Period, deposited into the Series 2005-2 Excess Collection Account or (B) during the Series 2005-2 Controlled Amortization Period or the Series 2005-2 Rapid Amortization Period, (1) first, to the Trustee, in an amount equal to deposited into the Series 19992005-1 Percentage 2 Collection Account and treated as of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series SupplementPrincipal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992017-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992017-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992017-1 Revolving Period or the Series 2017-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2017-1 Percentage as of the beginning of the Series 19992017-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2017-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992017-1 Percentage as of the immediately preceding 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 2017-1 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 Trustee’s fees for the beginning of such Series 19992017-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Indenture for such Series 2017-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2017-1 Percentage as of the beginning of such Series 2017-1 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 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, in an amount equal to the Series 19992017-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2017-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992017-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992017-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992017-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement)), if any, of the Interest Collections allocated to amounts available from the Series 19992002-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) 4 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 19992002-1 4 Revolving Period, (1) first, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 AFC-II (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2002-4 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992002-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-4 Interest Period of the Trustee’s 's fees for the such Series 19992002-1 4 Interest Period ending on such current Distribution DatePeriod, (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, in an amount equal to the Series 19992002-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992002-1 4 Interest Period and (45) fourthfifth, the balance, if anyany ("EXCESS COLLECTIONS"), shall be withdrawn by the Trustee Paying Agent -39- from the Series 19992002-1 4 Collection Account and paid to deposited in the IssuerSeries 2002-4 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992002-1 Rapid 4 Amortization Period, (1) first, to the Trustee, in an amount equal to the Series 19992002-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-4 Interest Period of the Trustee’s 's fees for the such Series 19992002-1 4 Interest Period ending on such current Distribution DatePeriod, (2) second, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to (as specified in clause (iii) of the Series 1999-1 Notes definition thereof) payable by the Issuer pursuant to Section 26.1 of the Lease on AFC-II for such Distribution DateSeries 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, in an amount equal to the Series 19992002-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992002-1 4 Interest Period and (45) fourthfifth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992017-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992017-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992017-1 2 Revolving Period or the Series 2017-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2017-2 Percentage as of the beginning of the Series 19992017-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2017-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992017-1 2 Percentage as of the immediately beginning of such Series 2017-2 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2017-2 Collection Account and deposited in the Series 2017-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2017-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2017-2 Percentage as of the beginning of such Series 2017-2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s 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 19992017-1 2 Percentage as of the beginning of such Series 2017-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992017-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2017-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992017-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992017-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2017-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992023-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 8 Accrued Interest Account and the Series 19992023-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992023-1 8 Revolving Period or the Series 2023-8 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2023-8 Percentage as of the beginning of the Series 19992023-1 Notes 8 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2023-8 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992023-1 8 Percentage as of the immediately beginning of such Series 2023-8 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-8 Collection Account and deposited in the Series 2023-8 Excess Collection Account; and (ii) on each Distribution Date during the Series 2023-8 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2023-8 Percentage as of the beginning of such Series 2023-8 Interest Period ending on the day preceding such Distribution Date of the Trustee’s 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 19992023-1 8 Percentage as of the beginning of such Series 2023-8 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992023-1 8 Percentage as of the immediately preceding Distribution Date beginning of such Series 2023-8 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992023-1 8 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992023-1 Collection Account and paid to 8 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2023-8 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement)), if any, of the Interest Collections allocated to amounts available from the Series 19992004-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) Accrued Interest Account as follows: (i) on each Distribution Date during the Series 19992004-1 Revolving Period or the Series 2004-1 Controlled Amortization Period, (1) first, to the Servicereach Series 2004-1 Interest Rate Hedge Counterparty, in an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series Monthly Servicing Fee with respect to the Series 19992004-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution DateInterest Rate Hedge Counterparty, (2) second, to the TrusteeAdministrator, in an amount equal to the Series 19992004-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2004-1 Interest Period of the portion of the Monthly Administration Fee payable by CRCF (as specified in clause (iii) of the definition thereof) for such Series 2004-1 Interest Period, (3) third, 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 the such Series 19992004-1 Interest Period ending on such current Distribution DatePeriod, (34) thirdfourth, 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, in an amount equal to the Series 19992004-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2004-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992004-1 Interest Period Period, (6) sixth, 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 (47) fourthseventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992004-1 Collection Account and paid to deposited in the IssuerSeries 2004-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992004-1 Rapid Amortization Period, (1) first, to the Trusteeeach Series 2004-1 Interest Rate Hedge Counterparty, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Fixed Rate Payment for such Distribution Date of the Trustee’s fees for the due and owing to such Series 19992004-1 Interest Period ending on such current Distribution DateRate Hedge Counterparty, (2) second, to the ServicerTrustee, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 19992004-1 Notes payable by the Issuer pursuant to Section 26.1 Percentage as of the Lease on beginning of such Distribution DateSeries 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 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, in an amount equal to the Series 19992004-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2004-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992004-1 Interest Period and Period, (46) fourthsixth, the balance, if any, shall be applied to reduce so long as the Series 19992004-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of this the Series Supplement2004-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992010-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992010-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992010-1 2 Revolving Period or the Series 2010-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2010-2 Percentage as of the beginning of the Series 19992010-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2010-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992010-1 2 Percentage as of the immediately beginning of such Series 2010-2 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2010-2 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 2010-2 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 2010-2 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2010-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992010-1 2 Percentage as of the beginning of such Series 2010-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 2010-2 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, in an amount equal to the Series 19992010-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2010-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992010-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992010-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2010-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992018-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992018-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992018-1 Revolving Period or the Series 2018-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2018-1 Percentage as of the beginning of the Series 19992018-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2018-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992018-1 Percentage as of the immediately preceding 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 2018-1 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 Trustee’s fees for the beginning of such Series 19992018-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Base Indenture for such Series 2018-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2018-1 Percentage as of the beginning of such Series 2018-1 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 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, in an amount equal to the Series 19992018-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2018-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992018-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992018-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992018-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992010-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 5 Accrued Interest Account and the Series 19992010-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992010-1 5 Revolving Period or the Series 2010-5 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2010-5 Percentage as of the beginning of the Series 19992010-1 Notes 5 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2010-5 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992010-1 5 Percentage as of the immediately beginning of such Series 2010-5 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2010-5 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 2010-5 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 2010-5 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2010-5 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992010-1 5 Percentage as of the beginning of such Series 2010-5 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 2010-5 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, in an amount equal to the Series 19992010-1 5 Percentage as of the immediately preceding Distribution Date beginning of such Series 2010-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992010-1 5 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992010-1 Collection Account and paid to 5 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2010-5 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992010-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 3 Accrued Interest Account and the Series 19992010-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992010-1 3 Revolving Period or the Series 2010-3 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2010-3 Percentage as of the beginning of the Series 19992010-1 Notes 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2010-3 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992010-1 3 Percentage as of the immediately beginning of such Series 2010-3 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2010-3 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 2010-3 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 2010-3 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2010-3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992010-1 3 Percentage as of the beginning of such Series 2010-3 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 2010-3 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, in an amount equal to the Series 19992010-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2010-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992010-1 3 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992010-1 Collection Account and paid to 3 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2010-3 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992017-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992017-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992017-1 2 Revolving Period or the Series 2017-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2017-2 Percentage as of the beginning of the Series 19992017-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2017-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992017-1 2 Percentage as of the immediately beginning of such Series 2017-2 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2017-2 Collection Account and deposited in the Series 2017-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2017-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2017-2 Percentage as of the beginning of such Series 2017-2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s 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 19992017-1 2 AMERICAS 93983148 (2K) 34 Percentage as of the beginning of such Series 2017-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992017-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2017-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992017-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992017-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2017-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992022-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992022-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992022-1 Revolving Period or the Series 2022-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2022-1 Percentage as of the beginning of the Series 19992022-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2022-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992022-1 Percentage as of the immediately preceding 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 2022-1 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 Trustee’s fees for the beginning of such Series 19992022-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Base Indenture for such Series 2022-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2022-1 Percentage as of the beginning of such Series 2022-1 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 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, in an amount equal to the Series 19992022-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2022-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992022-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992022-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992022-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992019-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992019-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992019-1 2 Revolving Period or the Series 2019-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2019-2 Percentage as of the beginning of the Series 19992019-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2019-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992019-1 2 Percentage as of the immediately beginning of such Series 2019-2 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2019-2 Collection Account and deposited in the Series 2019-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2019-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2019-2 Percentage as of the beginning of such Series 2019-2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s 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 19992019-1 2 Percentage as of the beginning of such Series 2019-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992019-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2019-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992019-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992019-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2019-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992024-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992024-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992024-1 Revolving Period or the Series 2024-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2024-1 Percentage as of the beginning of the Series 19992024-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2024-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992024-1 Percentage as of the immediately preceding 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 2024-1 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 Trustee’s fees for the beginning of such Series 19992024-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Base Indenture for such Series 2024-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2024-1 Percentage as of the beginning of such Series 2024-1 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 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, in an amount equal to the Series 19992024-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2024-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992024-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992024-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992024-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a2.3(a) of this Series Supplement), if any, of the Series 2000-3 Interest Rate Cap Proceeds and Interest Collections allocated to holders of the Series 19992000-1 Noteholder 3 Notes since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) as follows: (i) on each Distribution Date during the Series 19992000-1 3 Revolving Period or the Series 2000-3 Controlled Amortization Period, (1) first, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992000-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date3 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the TrusteeAdministrator, in an amount equal to the Series 19992000-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2000-3 Interest Period of the Trustee’s fees portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for the such Series 19992000-1 3 Interest Period ending on such current Distribution DatePeriod, (3) third, 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, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992000-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2000-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992000-1 3 Interest Period and (45) fourthfifth, the balance, if anyany ("Excess Collections"), shall be withdrawn by the Trustee Paying Agent from the Series 19992000-1 3 Collection Account and paid to deposited in the IssuerSeries 2000-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992000-1 3 Rapid Amortization Period, (1) first, to the TrusteeSurety Provider, in an amount equal to (x) the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Surety Provider Fee for the related Series 19992000-1 3 Interest Period ending on such current Distribution Dateand, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the ServicerTrustee, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 19992000-1 Notes payable by the Issuer pursuant to Section 26.1 3 Percentage as of the Lease on beginning of such Distribution DateSeries 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, in an amount equal to the Series 19992000-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2000-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992000-1 3 Interest Period and (45) fourthfifth, the balance, if any, shall constitute Excess Collections and shall be applied to reduce withdrawn by the Paying Agent from the Series 19992000-1 Invested Amount on such current Distribution Date 3 Collection Account and deposited in accordance with Section 3.4 of this the Series Supplement2000-3 Excess Collection Account.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992005-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992005-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992005-1 2 Revolving Period or the Series 2005-2 Controlled Amortization Period, (1) first, to the Servicereach Series 2005-2 Interest Rate Swap Counterparty, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on Fixed Rate Payment for such Distribution DateDate due and owing to such Series 2005-2 Interest Rate Swap Counterparty, (2) second, to the TrusteeSurety Provider, in an amount equal to (x) the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Surety Provider Fee for the related Series 19992005-1 2 Interest Period ending on such current Distribution Dateand, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 2005-2 Percentage as of the beginning of the Series 2005-2 Interest Period ending on the day preceding such 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 2005-2 Interest Period, (4) fourth, to the Trustee, an amount equal to the Series 2005-2 Percentage as of the beginning of such Series 2005-2 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2005-2 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, in an amount equal to the Series 19992005-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2005-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992005-1 2 Interest Period 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 (47) fourthseventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992005-1 2 Collection Account and paid to deposited in the IssuerSeries 2005-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992005-1 2 Rapid Amortization Period, (1) first, to the Trusteeeach Series 2005-2 Interest Rate Swap Counterparty, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Fixed Rate Payment for such Distribution Date of the Trustee’s fees for the due and owing to such Series 19992005-1 2 Interest Period ending on such current Distribution DateRate Swap Counterparty, (2) second, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992005-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date2 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 Distribution Date of the fees owing to the Trustee under the Indenture for such Series 2005-2 Interest Period, (4) 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 Persons to whom such amounts are owed, in an amount equal to the Series 19992005-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2005-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992005-1 2 Interest Period 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 treated as Principal Collections and (47) fourthseventh, to each Series 2005-2 Interest Rate Swap Counterparty, any amounts due and owing under the balance, if any, shall be applied to reduce the applicable Series 19992005-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplement2 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992005-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992005-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992005-1 2 Revolving Period or a Series 2005-2 Controlled Amortization Period, (1) first, to the Servicereach Series 2005-2 Interest Rate Swap Counterparty, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on Fixed Rate Payment for such Distribution DateDate due and owing to such Series 2005-2 Interest Rate Swap Counterparty, (2) second, to the TrusteeSurety Provider, in an amount equal to (x) the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Surety Provider Fee for the related Series 19992005-1 2 Interest Period ending on such current Distribution Dateand, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 2005-2 Percentage as of the beginning of the Series 2005-2 Interest Period ending on the day preceding such 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 2005-2 Interest Period, (4) fourth, to the Trustee, an amount equal to the Series 2005-2 Percentage as of the beginning of such Series 2005-2 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2005-2 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, in an amount equal to the Series 19992005-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2005-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992005-1 2 Interest Period 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 (47) fourthseventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992005-1 2 Collection Account and paid to deposited in the IssuerSeries 2005-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992005-1 2 Rapid Amortization Period, (1) first, to the Trusteeeach Series 2005-2 Interest Rate Swap Counterparty, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Fixed Rate Payment for such Distribution Date of the Trustee’s fees for the due and owing to such Series 19992005-1 2 Interest Period ending on such current Distribution DateRate Swap Counterparty, (2) second, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992005-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date2 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 Distribution Date of the fees owing to the Trustee under the Indenture for such Series 2005-2 Interest Period, (4) 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 Persons to whom such amounts are owed, in an amount equal to the Series 19992005-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2005-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992005-1 2 Interest Period 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 treated as Principal Collections and (47) fourthseventh, to each Series 2005-2 Interest Rate Swap Counterparty, any amounts due and owing under the balance, if any, shall be applied to reduce the applicable Series 19992005-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplement2 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement)), if any, of the Interest Collections allocated to amounts available from the Series 19992022-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) 2 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 19992022-1 2 Revolving Period or the Series 2022-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2022-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992022-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2022-2 Interest Period of the Trustee’s fees for the such Series 19992022-1 2 Interest Period ending on such current Distribution DatePeriod, (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, in an amount equal to the Series 19992022-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2022-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992022-1 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 (4y) fourththe Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992022-1 2 Collection Account and paid to deposited in the IssuerSeries 2022-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992022-1 2 Rapid Amortization Period, (1) first, to the Trustee, in an amount equal to the Series 19992022-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2022-2 Interest Period of the Trustee’s fees for the such Series 19992022-1 2 Interest Period ending on such current Distribution DatePeriod, (2) second, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to (as specified in clause (iii) of the Series 1999-1 Notes definition thereof) payable by the Issuer pursuant to Section 26.1 of the Lease on ABRCF for such Distribution DateSeries 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, in an amount equal to the Series 19992022-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2022-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992022-1 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 (4y) fourththe Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992009-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992009-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992009-1 2 Revolving Period or the Series 2009-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2009-2 Percentage as of the beginning of the Series 19992009-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2009-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992009-1 2 Percentage as of the immediately beginning of such Series 2009-2 Interest Period of the fees owing to the Trustee under the Indenture 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, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2009-2 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2009-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992009-1 2 Percentage as of the beginning of such Series 2009-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992009-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2009-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992009-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992009-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2009-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992019-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 3 Accrued Interest Account and the Series 19992019-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992019-1 3 Revolving Period or the Series 2019-3 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2019-3 Percentage as of the beginning of the Series 19992019-1 Notes 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2019-3 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992019-1 3 Percentage as of the immediately beginning of such Series 2019-3 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2019-3 Collection Account and deposited in the Series 2019-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 2019-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2019-3 Percentage as of the beginning of such Series 2019-3 Interest Period ending on the day preceding such Distribution Date of the Trustee’s 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 19992019-1 3 Percentage as of the beginning of such Series 2019-3 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992019-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2019-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992019-1 3 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992019-1 Collection Account and paid to 3 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2019-3 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On the fourth Business Day prior to each Distribution Payment Date, the Servicer Administrator shall instruct the Trustee in writing pursuant to pay the Administration Agreement to pay, on such Payment Date, the balance (after making the payments required in Section 3.3(a) 3.4 of this Series Supplement), if any, of the Interest Collections allocated to amounts available from the Series 19992005-1 Noteholder since 4 Accrued Interest Account plus the preceding Distribution Date (less any portion thereof paid to amount, if any, withdrawn from the Series 1999-1 Noteholder during such period Class A Reserve Account pursuant to Section 3.3(c3.3(d)(i) belowof 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 Distribution Interest Rate Hedge Provider, in an amount equal to the portion of the Monthly Hedge Payment for such Payment Date during the Series 1999-1 Revolving Period, payable to such Interest Rate Hedge Provider; (1ii) firstsecond, to the ServicerInsurer, 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 Monthly Servicing Fee with respect to 2005-4 Percentage as of the beginning of the Series 19992005-1 Notes payable by 4 Interest Period ending on the Issuer pursuant to Section 26.1 day preceding such Payment Date of the Lease on Monthly Administration Fee for such Distribution Date, Series 2005-4 Interest Period; (2iv) secondfourth, to the Trustee, in an amount equal to the Series 19992005-1 4 Percentage as of the immediately beginning of the Series 2005-4 Interest Period ending on the day preceding Distribution such Payment Date of the Trustee’s fees for the such Series 19992005-1 4 Interest Period ending Period; (v) fifth, on such current Distribution Datea pro rata basis, (3x) thirdto 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)) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992005-1 4 Percentage as of the immediately beginning of the Series 2005-4 Interest Period ending on the day preceding Distribution such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 19992005-1 4 Interest Period and Period; and (4vi) fourthsixth, the balance, if any, shall be withdrawn from the Series 2005-4 Accrued Interest Account by the Trustee from the Series 1999-1 Collection Account and paid to the Issuer; and (iiA) on each Distribution Date during the Series 19992005-1 4 Revolving Period, deposited into the Series 2005-4 Excess Collection Account or (B) during the Series 2005-4 Rapid Amortization Period, (1) first, to the Trustee, in an amount equal to deposited into the Series 19992005-1 Percentage 4 Collection Account and treated as of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series SupplementPrincipal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992003-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 3 Accrued Interest Account and the Series 19992003-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992003-1 3 Revolving Period or a Series 2003-3 Controlled Amortization Period, (1) first, to the ServicerSeries 2003-3 Interest Rate Swap Counterparty, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on Fixed Rate CONFORMED COPY Payment for such Distribution Date, (2) second, to the TrusteeSurety Provider, in an amount equal to (x) the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Surety Provider Fee for the related Series 19992003-1 3 Interest Period ending on such current Distribution Dateand, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, 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 payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 2003-3 Interest Period, (4) fourth, 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, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992003-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992003-1 3 Interest Period Period, (6) sixth, 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 (47) fourthseventh, the balance, if anyany ("EXCESS COLLECTIONS"), shall be withdrawn by the Trustee Paying Agent from the Series 19992003-1 3 Collection Account and paid to deposited in the IssuerSeries 2003-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992003-1 3 Rapid Amortization Period, (1) first, to the TrusteeSeries 2003-3 Interest Rate Swap Counterparty, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Fixed Rate Payment for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992003-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date3 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, in an amount equal to the Series 19992003-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992003-1 3 Interest Period 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 Collections and (47) fourthseventh, the balance, if any, shall be applied to reduce the Series 19992003-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this 3 Interest Rate Swap Counterparty, any amounts due and owing under the Series Supplement2003-3 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992011-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 3 Accrued Interest Account and the Series 19992011-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992011-1 3 Revolving Period or the Series 2011-3 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2011-3 Percentage as of the beginning of the Series 19992011-1 Notes 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2011-3 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992011-1 3 Percentage as of the immediately beginning of such Series 2011-3 Interest Period of the fees owing to the Trustee under the Indenture 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, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2011-3 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2011-3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992011-1 3 Percentage as of the beginning of such Series 2011-3 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992011-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2011-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992011-1 3 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992011-1 Collection Account and paid to 3 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2011-3 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.3(a), if any, of the Interest Collections allocated to amounts available from the Series 19992003-1 Noteholder since 2 Accrued Interest Account plus the preceding Distribution Date (less any portion thereof paid to amount, if any, drawn under the Series 19992003-1 Noteholder during such period 2 Letters of Credit and/or withdrawn from the Series 2003-2 Cash Collateral Account pursuant to Section 3.3(c2.3(c) belowplus 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 19992003-1 2 Revolving Period or a Series 2003-2 Controlled Amortization Period, (1) first, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992003-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the TrusteeAdministrator, in an amount equal to the Series 19992003-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-2 Interest Period of the Trustee’s fees portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for the such Series 19992003-1 2 Interest Period ending on such current Distribution DatePeriod, (3) third, 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, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992003-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992003-1 2 Interest Period and (45) fourthfifth, the balance, if anyany ("EXCESS COLLECTIONS"), shall be withdrawn by the Trustee Paying Agent from the Series 19992003-1 2 Collection Account and paid to deposited in the IssuerSeries 2003-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992003-1 2 Rapid Amortization Period, (1) first, to the TrusteeSurety Provider, in an amount equal to (x) the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Surety Provider Fee for the related Series 19992003-1 2 Interest Period ending on such current Distribution Dateand, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the ServicerTrustee, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 19992003-1 Notes payable by the Issuer pursuant to Section 26.1 2 Percentage as of the Lease on beginning of such Distribution DateSeries 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, in an amount equal to the Series 19992003-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992003-1 2 Interest Period and (45) fourthfifth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992012-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 3 Accrued Interest Account and the Series 19992012-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992012-1 3 Revolving Period or the Series 2012-3 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2012-3 Percentage as of the beginning of the Series 19992012-1 Notes 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2012-3 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992012-1 3 Percentage as of the immediately beginning of such Series 2012-3 Interest Period of the fees owing to the Trustee under the Indenture 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, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2012-3 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2012-3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992012-1 3 Percentage as of the beginning of such Series 2012-3 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992012-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2012-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992012-1 3 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992012-1 Collection Account and paid to 3 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2012-3 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement)), if any, of the Interest Collections allocated to amounts available from the Series 19992003-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) Accrued Interest Account as follows: (i) on each Distribution Date during the Series 19992003-1 Revolving Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 19992003-1 Notes Percentage as of the beginning of such Series 2003-1 Interest Period of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 AFC-II (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2003-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992003-1 Percentage as of the immediately preceding Distribution Date beginning of the Trustee’s fees for the such Series 19992003-1 Interest Period ending on of the Trustee's fees for such current Distribution DateSeries 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, in an amount equal to the Series 19992003-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992003-1 Interest Period and (4) fourth, the balance, if anyany ("EXCESS COLLECTIONS"), shall be withdrawn by the Trustee Paying Agent from the Series 19992003-1 Collection Account and paid to deposited in the IssuerSeries 2003-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992003-1 Rapid Amortization Period, (1) first, to the Trustee, in an amount equal to the Series 19992003-1 Percentage as of the immediately preceding Distribution Date beginning of the Trustee’s fees for the such Series 19992003-1 Interest Period ending on of the Trustee's fees for such current Distribution DateSeries 2003-1 Interest Period, (2) second, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 19992003-1 Notes 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 the Issuer pursuant to Section 26.1 of the Lease on AFC-II for such Distribution DateSeries 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, in an amount equal to the Series 19992003-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992003-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992023-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 6 Accrued Interest Account and the Series 19992023-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992023-1 6 Revolving Period or the Series 2023-6 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2023-6 Percentage as of the beginning of the Series 19992023-1 Notes 6 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2023-6 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992023-1 6 Percentage as of the immediately beginning of such Series 2023-6 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-6 Collection Account and deposited in the Series 2023-6 Excess Collection Account; and (ii) on each Distribution Date during the Series 2023-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2023-6 Percentage as of the beginning of such Series 2023-6 Interest Period ending on the day preceding such Distribution Date of the Trustee’s 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 19992023-1 6 Percentage as of the beginning of such Series 2023-6 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992023-1 6 Percentage as of the immediately preceding Distribution Date beginning of such Series 2023-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992023-1 6 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992023-1 Collection Account and paid to 6 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2023-6 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992007-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992007-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992007-1 2 Revolving Period or the Series 2007-2 Controlled Amortization Period, (1) first, to the Servicereach Series 2007-2 Interest Rate Swap Counterparty, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on Fixed Rate Payment for such Distribution DateDate due and owing to such Series 2007-2 Interest Rate Swap Counterparty, (2) second, to the TrusteeSurety Provider, in an amount equal to (x) the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Surety Provider Fee for the related Series 19992007-1 2 Interest Period ending on such current Distribution Dateand, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 2007-2 Percentage as of the beginning of the Series 2007-2 Interest Period ending on the day preceding such 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 2007-2 Interest Period, (4) fourth, to the Trustee, an amount equal to the Series 2007-2 Percentage as of the beginning of such Series 2007-2 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2007-2 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, in an amount equal to the Series 19992007-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2007-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992007-1 2 Interest Period 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 (47) fourthseventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992007-1 2 Collection Account and paid to deposited in the IssuerSeries 2007-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992007-1 2 Rapid Amortization Period, (1) first, to the Trusteeeach Series 2007-2 Interest Rate Swap Counterparty, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Fixed Rate Payment for such Distribution Date of the Trustee’s fees for the due and owing to such Series 19992007-1 2 Interest Period ending on such current Distribution DateRate Swap Counterparty, (2) second, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992007-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date2 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 Distribution Date of the fees owing to the Trustee under the Indenture for such Series 2007-2 Interest Period, (4) 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 Persons to whom such amounts are owed, in an amount equal to the Series 19992007-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2007-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992007-1 2 Interest Period 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 treated as Principal Collections and (47) fourthseventh, to each Series 2007-2 Interest Rate Swap Counterparty, any amounts due and owing under the balance, if any, shall be applied to reduce the applicable Series 19992007-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplement2 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992020-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992020-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992020-1 Revolving Period or the Series 2020-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2020-1 Percentage as of the beginning of the Series 19992020-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2020-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992020-1 Percentage as of the immediately preceding 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 2020-1 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 Trustee’s fees for the beginning of such Series 19992020-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Base Indenture for such Series 2020-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2020-1 Percentage as of the beginning of such Series 2020-1 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 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, in an amount equal to the Series 19992020-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2020-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992020-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992020-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992020-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover 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 1 Supplement (Avis Budget Group, Inc.)

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement)), if any, of the Interest Collections allocated to amounts available from the Series 19992015-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) 3 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 19992015-1 3 Revolving Period or the Series 2015-3 Controlled Amortization Period, (1) first, to the ServicerSeries 2015-3 Reserve Account, in an amount equal to the Series sum of (x) the aggregate Contingent Monthly Servicing Fee Funding Costs with respect to all Purchaser Groups for the Series 19992015-1 Notes payable by 3 Interest Period ending on the Issuer pursuant to Section 26.1 next Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the Lease on such immediately preceding Distribution DateDate (together with accrued interest thereon), (2) second, to the TrusteeAdministrator, in an amount equal to the Series 19992015-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2015-3 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 2015-3 Interest Period, (3) third, 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 Americas 90884077 (2K) 60 Series 2015-3 Interest Period, (4) fourth, to the Series 19992015-1 Interest Period ending on such current 3 Distribution DateAccount to pay any Article VII Costs, (35) thirdfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992015-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2015-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992015-1 3 Interest Period and (46) fourthsixth, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992015-1 3 Collection Account and paid to deposited in the IssuerSeries 2015-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992015-1 3 Rapid Amortization Period, (1) first, to the Trustee, in an amount equal to the Series 19992015-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2015-3 Interest Period of the Trustee’s fees for the such Series 19992015-1 3 Interest Period ending on such current Distribution DatePeriod, (2) second, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to (as specified in clause (iii) of the Series 1999-1 Notes definition thereof) payable by the Issuer pursuant to Section 26.1 of the Lease on ABRCF for such Distribution DateSeries 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, in an amount equal to the Series 19992015-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2015-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992015-1 3 Interest Period and (45) fourthfifth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

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BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement)), if any, of the Interest Collections allocated to amounts available from the Series 19992002-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) 2 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 19992002-1 2 Revolving Period, (1) first, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 AFC-II (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2002-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992002-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-2 Interest Period of the Trustee’s 's fees for the such Series 19992002-1 2 Interest Period ending on such current Distribution DatePeriod, (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, in an amount equal to the Series 19992002-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992002-1 2 Interest Period and (45) fourthfifth, the balance, if anyany ("EXCESS COLLECTIONS"), shall be withdrawn by the Trustee Paying Agent from the Series 19992002-1 2 Collection Account and paid to deposited in the IssuerSeries 2002-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992002-1 Rapid 2 Amortization Period, (1) first, to the Trustee, in an amount equal to the Series 19992002-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-2 Interest Period of the Trustee’s 's fees for the such Series 19992002-1 2 Interest Period ending on such current Distribution DatePeriod, (2) second, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to (as specified in -43- clause (iii) of the Series 1999-1 Notes definition thereof) payable by the Issuer pursuant to Section 26.1 of the Lease on AFC-II for such Distribution DateSeries 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, in an amount equal to the Series 19992002-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992002-1 2 Interest Period and (45) fourthfifth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated 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 Distribution Payment Date, the Servicer 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 3.3(a) 2.4 of this Series Supplement), if any, of the Interest Collections allocated to amounts available from the Series 19992010-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) Accrued Interest Account as follows: (i) on each Distribution Date during the Series 1999-1 Revolving Period, (1) first, to pay the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2010-1 Percentage as of the beginning of the Series 19992010-1 Notes payable by Interest Period ending on the Issuer pursuant to Section 26.1 day preceding such Payment Date of the Lease on Monthly Administration Fee for such Distribution Date, Series 2010-1 Interest Period; (2ii) second, to pay the Trustee, in an amount equal to the Series 19992010-1 Percentage as of the immediately beginning of the Series 2010-1 Interest Period ending on the day preceding Distribution such Payment Date of the Trustee’s fees for the such Series 19992010-1 Interest Period ending on such current Distribution Date, Period; (3iii) third, on a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992010-1 Percentage as of the immediately beginning of the Series 2010-1 Interest Period ending on the day preceding Distribution such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 19992010-1 Interest Period and Period; and (4iv) fourth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee from the Series 1999-1 Collection Account and paid to the Issuer; and (iiA) on each Distribution Date during the Series 19992010-1 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, (1) first, to the Trustee, in an amount equal to deposited into the Series 19992010-1 Percentage Collection Account and treated as of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series SupplementPrincipal Collections.

Appears in 1 contract

Samples: Supplement (Hertz Global Holdings Inc)

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992019-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992019-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992019-1 Revolving Period or the Series 2019-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2019-1 Percentage as of the beginning of the Series 19992019-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2019-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992019-1 Percentage as of the immediately preceding 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 2019-1 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 Trustee’s fees for the beginning of such Series 19992019-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Base Indenture for such Series 2019-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2019-1 Percentage as of the beginning of such Series 2019-1 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 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, in an amount equal to the Series 19992019-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2019-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992019-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992019-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992019-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992015-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992015-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992015-1 2 Revolving Period or the Series 2015-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2015-2 Percentage as of the beginning of the Series 19992015-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2015-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992015-1 2 Percentage as of the immediately beginning of such Series 2015-2 Interest Period of the fees owing to the Trustee under the Indenture 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, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2015-2 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2015-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992015-1 2 Percentage as of the beginning of such Series 2015-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992015-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2015-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992015-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992015-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2015-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992005-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992005-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992005-1 Revolving Period or a Series 2005-1 Controlled Amortization Period, (1) first, to the Servicereach Series 2005-1 Interest Rate Swap Counterparty, in an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series Monthly Servicing Fee with respect to the Series 19992005-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution DateInterest Rate Swap Counterparty, (2) second, to the TrusteeSurety 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 19992005-1 Percentage as of the immediately preceding Distribution Date beginning of the Trustee’s fees for the Series 19992005-1 Interest Period ending on the day preceding such current Distribution DateDate of the portion of the Monthly Administration Fee payable by CRCF (as specified in clause (iii) of the definition thereof) for such Series 2005-1 Interest Period, (34) thirdfourth, to the Trustee, an amount equal to the Series 2005-1 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, in an amount equal to the Series 19992005-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2005-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992005-1 Interest Period 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 (47) fourthseventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992005-1 Collection Account and paid to deposited in the IssuerSeries 2005-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992005-1 Rapid Amortization Period, (1) first, to the Trusteeeach Series 2005-1 Interest Rate Swap Counterparty, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Fixed Rate Payment for such Distribution Date of the Trustee’s fees for the due and owing to such Series 19992005-1 Interest Period ending on such current Distribution DateRate Swap Counterparty, (2) second, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992005-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution DateInterest 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 Distribution Date of the fees owing to the Trustee under the Indenture for such Series 2005-1 Interest Peri-od, (4) fourth, to the Administrator, an amount equal to the Series 2005-1 Percentage as of the beginning of such Series 2005-1 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 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, in an amount equal to the Series 19992005-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2005-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992005-1 Interest Period and Period, (46) fourthsixth, the balance, if any, shall be applied to reduce so long as the Series 19992005-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of this the Series Supplement2005-1 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992011-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992011-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992011-1 Revolving Period or the Series 2011-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2011-1 Percentage as of the beginning of the Series 19992011-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2011-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992011-1 Percentage as of the immediately preceding 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 2011-1 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 Trustee’s fees for the beginning of such Series 19992011-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Indenture for such Series 2011-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2011-1 Percentage as of the beginning of such Series 2011-1 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 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, in an amount equal to the Series 19992011-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2011-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992011-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992011-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992011-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover 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 second Busi-ness Day preceding each Distribution Date, the Servicer Adminis-trator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section Sec-tion 3.3(a) of this Series Supplement)), if any, of the Interest Collections allocated to amounts available from the Series 19992005-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) 3 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 19992005-1 3 Revolving Period or the Series 2005-3 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 19992005-1 Notes payable by the Issuer pursuant to Section 26.1 3 Percentage as of the Lease on beginning of such Distribution DateSeries 2005-3 Interest Period of the por-tion of the Monthly Administration Fee pay-able by CRCF (as specified in clause (iii) of the definition thereof) for such Series 2005-3 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992005-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2005-3 Interest Period of the Trustee’s fees for the such Series 19992005-1 3 Interest Period ending on such current Distribution DatePeriod, (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, in an amount equal to the Series 19992005-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2005-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992005-1 3 Interest Period and (45) fourthfifth, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992005-1 3 Collection Account and paid to deposited in the IssuerSeries 2005-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992005-1 3 Rapid Amortization Amorti-zation Period, (1) first, to the Trustee, in an amount equal to the Series 19992005-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2005-3 Interest Period of the Trustee’s fees for the such Series 19992005-1 3 Interest Period ending on such current Distribution DatePeri-od, (2) second, to the ServicerAdminis-tra-tor, in 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 Servicing Administration Fee with respect to (as specified in clause (iii) of the Series 1999-1 Notes definition thereof) payable by the Issuer pursuant to Section 26.1 of the Lease on CRCF for such Distribution DateSeries 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, in an amount equal to the Series 19992005-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2005-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992005-1 3 Interest Period and (45) fourthfifth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

Samples: Series Supplement (Cendant Corp)

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a2.3(a) of this Series Supplement), if any, of the Series 2001-1 Interest Rate Cap Proceeds and Interest Collections allocated to holders of the Series 19992001-1 Noteholder Notes since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) as follows: (i) on each Distribution Date during the Series 19992001-1 Revolving Period or the Series 2001-1 Controlled Amortization Period, (1) first, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992001-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution DateInterest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the TrusteeAdministrator, in an amount equal to the Series 19992001-1 Percentage as of the immediately preceding Distribution Date beginning of the Trustee’s fees for the such Series 19992001-1 Interest Period ending on of the portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such current Distribution DateSeries 2001-1 Interest Period, (3) third, 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, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992001-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2001-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992001-1 Interest Period and (45) fourthfifth, the balance, if anyany ("Excess Collections"), shall be withdrawn by the Trustee Paying Agent from the Series 19992001-1 Collection Account and paid to deposited in the IssuerSeries 2001-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992001-1 Rapid Amortization Period, (1) first, to the TrusteeSurety Provider, in an amount equal to (x) the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Surety Provider Fee for the related Series 19992001-1 Interest Period ending on such current Distribution Dateand, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the ServicerTrustee, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 19992001-1 Notes payable by the Issuer pursuant to Section 26.1 Percentage as of the Lease on beginning of such Distribution DateSeries 2001-1 Interest Period of the Trustee's fees for such Series 2001-1 Interest Period, (3) 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, in an amount equal to the Series 19992001-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2001-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992001-1 Interest Period and (45) fourthfifth, the balance, if any, shall constitute Excess Collections and shall be applied to reduce withdrawn by the Paying Agent from the Series 19992001-1 Invested Amount on such current Distribution Date Collection Account and deposited in accordance with Section 3.4 of this the Series Supplement2001-1 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement)), if any, of the Interest Collections allocated to amounts available from the Series 19992002-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) 2 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 19992002-1 2 Revolving Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series 2002-2 -43- Percentage as of the beginning of such Series 2002-2 Interest Period of the portion of the Monthly Servicing Administration Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 AFC-II (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2002-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992002-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-2 Interest Period of the Trustee’s 's fees for the such Series 19992002-1 2 Interest Period ending on such current Distribution DatePeriod, (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, in an amount equal to the Series 19992002-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992002-1 2 Interest Period and (45) fourthfifth, the balance, if anyany ("EXCESS COLLECTIONS"), shall be withdrawn by the Trustee Paying Agent from the Series 19992002-1 2 Collection Account and paid to deposited in the IssuerSeries 2002-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992002-1 Rapid 2 Amortization Period, (1) first, to the Trustee, in an amount equal to the Series 19992002-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-2 Interest Period of the Trustee’s 's fees for the such Series 19992002-1 2 Interest Period ending on such current Distribution DatePeriod, (2) second, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to (as specified in clause (iii) of the Series 1999-1 Notes definition thereof) payable by the Issuer pursuant to Section 26.1 of the Lease on AFC-II for such Distribution DateSeries 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, in an amount equal to the Series 19992002-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992002-1 2 Interest Period and (45) fourthfifth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992003-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 3 Accrued Interest Account and the Series 19992003-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992003-1 3 Revolving Period or a Series 2003-3 Controlled Amortization Period, (1) first, to the ServicerSeries 2003-3 Interest Rate Swap Counterparty, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on Fixed Rate Payment for such Distribution Date, (2) second, to the TrusteeSurety 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 19992003-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-3 Interest Period of the portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such Series 2003-3 Interest Period, (4) fourth, 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 the such Series 19992003-1 3 Interest Period ending on such current Distribution DatePeriod, (35) thirdfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992003-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992003-1 3 Interest Period Period, (6) sixth, 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 (47) fourthseventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992003-1 3 Collection Account and paid to deposited in the IssuerSeries 2003-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992003-1 3 Rapid Amortization Period, (1) first, to the TrusteeSeries 2003-3 Interest Rate Swap Counterparty, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Fixed Rate Payment for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992003-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date3 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, in an amount equal to the Series 19992003-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2003-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992003-1 3 Interest Period 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 Collections and (47) fourthseventh, the balance, if any, shall be applied to reduce the Series 19992003-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this 3 Interest Rate Swap Counterparty, any amounts due and owing under the Series Supplement2003-3 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992012-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992012-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992012-1 2 Revolving Period or the Series 2012-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2012-2 Percentage as of the beginning of the Series 19992012-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2012-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992012-1 2 Percentage as of the immediately beginning of such Series 2012-2 Interest Period of the fees owing to the Trustee under the Indenture 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, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2012-2 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2012-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992012-1 2 Percentage as of the beginning of such Series 2012-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992012-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2012-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992012-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992012-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2012-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992004-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992004-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992004-1 2 Revolving Period or a Series 2004-2 Controlled Amortization Period, (1) first, to the Servicereach Series 2004-2 Interest Rate Swap Counterparty, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 portion, if any, of the Lease on Fixed Rate Payment for such Distribution DateDate due and owing to such Series 2004-2 Interest Rate Swap Counterparty, (2) second, to the TrusteeSurety Provider, in an amount equal to (x) the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Surety Provider Fee for the related Series 19992004-1 2 Interest Period ending on such current Distribution Dateand, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 2004-2 Percentage as of the beginning of the Series 2004-2 Interest Period ending on the day preceding such 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 2004-2 Interest Period, (4) fourth, to the Trustee, an amount equal to the Series 2004-2 Percentage as of the beginning of such Series 2004-2 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2004-2 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, in an amount equal to the Series 19992004-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2004-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992004-1 2 Interest Period 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 (47) fourthseventh, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992004-1 2 Collection Account and paid to deposited in the IssuerSeries 2004-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992004-1 2 Rapid Amortization Period, (1) first, to the Trusteeeach Series 2004-2 Interest Rate Swap Counterparty, in an amount equal to the Series 1999-1 Percentage as portion, if any, of the immediately preceding Fixed Rate Payment for such Distribution Date of the Trustee’s fees for the due and owing to such Series 19992004-1 2 Interest Period ending on such current Distribution DateRate Swap Counterparty, (2) second, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19992004-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date2 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 2004-2 Interest Period ending on the day preceding such Distribution Date of the fees owing to the Trustee under the Indenture for such Series 2004-2 Interest Period, (4) 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 Persons to whom such amounts are owed, in an amount equal to the Series 19992004-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2004-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992004-1 2 Interest Period 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 treated as Principal Collections and (47) fourthseventh, to each Series 2004-2 Interest Rate Swap Counterparty, any amounts due and owing under the balance, if any, shall be applied to reduce applicable Series 2004-2 Interest Rate Swap (other than any amount included in the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series SupplementFixed Rate Payment).

Appears in 1 contract

Samples: Series Supplement (Cendant Corp)

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992018-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992018-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992018-1 2 Revolving Period or the Series 2018-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2018-2 Percentage as of the beginning of the Series 19992018-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2018-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992018-1 2 Percentage as of the immediately beginning of such Series 2018-2 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2018-2 Collection Account and deposited in the Series 2018-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2018-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2018-2 Percentage as of the beginning of such Series 2018-2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s 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 19992018-1 2 Percentage as of the beginning of such Series 2018-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992018-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2018-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992018-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992018-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2018-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a2.3(a) of this Series Supplement), if any, of the Interest Collections allocated to holders of the Series 19991997-1 Noteholder Notes since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) as follows: (i) on each Distribution Date during the Series 19991997-1 Revolving Period or any Series 1997-1 Controlled Amortization Period, (1) first, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19991997-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution DateInterest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the TrusteeAdministrator, in an amount equal to the Series 19991997-1 Percentage as of the immediately preceding Distribution Date beginning of the Trustee’s fees for the such Series 19991997-1 Interest Period ending on of the portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such current Distribution DateSeries 1997-1 Interest Period, (3) third, 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, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 19991997-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 1997-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19991997-1 Interest Period and (45) fourthfifth, the balance, if anyany ("Excess Collections"), shall be withdrawn by the Trustee Paying Agent from the Series 19991997-1 Collection Account and paid to deposited in the IssuerSeries 1997-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 19991997-1 Rapid Amortization Period, (1) first, to the TrusteeSurety Provider, in an amount equal to (x) the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Surety Provider Fee for the related Series 19991997-1 Interest Period ending on such current Distribution Dateand, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the ServicerTrustee, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 19991997-1 Notes payable by the Issuer pursuant to Section 26.1 Percentage as of the Lease on beginning of such Distribution DateSeries 1997-1 Interest Period of the Trustee's fees for such Series 1997-1 Interest Period, (3) 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, in an amount equal to the Series 19991997-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 1997-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19991997-1 Interest Period and (45) fourthfifth, the balance, if any, shall constitute Excess Collections and shall be applied to reduce withdrawn by the Paying Agent from the Series 19991997-1 Invested Amount on such current Distribution Date Collection Account and deposited in accordance with Section 3.4 of this the Series Supplement1997-1 Excess Collection Account.

Appears in 1 contract

Samples: Series Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992018-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992018-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992018-1 Revolving Period or the Series 2018-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2018-1 Percentage as of the beginning of the Series 19992018-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2018-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992018-1 Percentage as of the immediately preceding 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 2018-1 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 Trustee’s fees for the beginning of such Series 19992018-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Base Indenture for such Series 2018-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2018-1 Percentage as of the beginning of such Series 2018-1 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 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, in an amount equal to the Series 19992018-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2018-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992018-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992018-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992018-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992018-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992018-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992018-1 2 Revolving Period or the Series 2018-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2018-2 Percentage as of the beginning of the Series 19992018-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2018-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992018-1 2 Percentage as of the immediately beginning of such Series 2018-2 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the AMERICAS 96004183 34 Series 2018-2 Collection Account and deposited in the Series 2018-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2018-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2018-2 Percentage as of the beginning of such Series 2018-2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s 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 19992018-1 2 Percentage as of the beginning of such Series 2018-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992018-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2018-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992018-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992018-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2018-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement)), if any, of the Interest Collections allocated to amounts available from the Series 19992009-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) 3 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 19992009-1 3 Revolving Period, (1) first, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2009-3 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992009-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2009-3 Interest Period of the Trustee’s fees for the such Series 19992009-1 3 Interest Period ending on such current Distribution DatePeriod, (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, in an amount equal to the Series 19992009-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2009-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992009-1 3 Interest Period and (45) fourthfifth, the balance, if anyany (“Excess Collections”), shall be withdrawn by the Trustee Paying Agent from the Series 19992009-1 3 Collection Account and paid to deposited in the IssuerSeries 2009-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992009-1 Rapid 3 Amortization Period, (1) first, to the Trustee, in an amount equal to the Series 19992009-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2009-3 Interest Period of the Trustee’s fees for the such Series 19992009-1 3 Interest Period ending on such current Distribution DatePeriod, (2) second, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to (as specified in clause (iii) of the Series 1999-1 Notes definition thereof) payable by the Issuer pursuant to Section 26.1 of the Lease on ABRCF for such Distribution DateSeries 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, in an amount equal to the Series 19992009-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2009-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992009-1 3 Interest Period and (45) fourthfifth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992021-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992021-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992021-1 2 Revolving Period or the Series 2021-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2021-2 Percentage as of the beginning of the Series 19992021-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2021-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992021-1 2 Percentage as of the immediately beginning of such Series 2021-2 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2021-2 Collection Account and deposited in the Series 2021-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2021-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2021-2 Percentage as of the beginning of such Series 2021-2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s 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 19992021-1 2 Percentage as of the beginning of such Series 2021-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992021-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2021-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992021-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992021-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2021-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992013-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992013-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992013-1 Revolving Period or the Series 2013-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2013-1 Percentage as of the beginning of the Series 19992013-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2013-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992013-1 Percentage as of the immediately preceding 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 2013-1 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 Trustee’s fees for the beginning of such Series 19992013-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Indenture for such Series 2013-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2013-1 Percentage as of the beginning of such Series 2013-1 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 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, in an amount equal to the Series 19992013-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2013-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992013-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992013-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992013-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992012-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992012-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992012-1 2 Revolving Period or the Series 2012-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2012-2 Percentage as of the beginning of the Series 19992012-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2012-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992012-1 2 Percentage as of the immediately beginning of such Series 2012-2 Interest Period of the fees owing to the Trustee under the Indenture 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, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2012-2 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2012-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992012-1 2 Percentage as of the beginning of such Series 2012-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992012-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2012-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992012-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992012-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2012-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the treated as Principal Collections. NEWYORK 8960490 (2K)A&R Series 19992012-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplement.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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992023-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 4 Accrued Interest Account and the Series 19992023-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992023-1 4 Revolving Period or the Series 2023-4 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2023-4 Percentage as of the beginning of the Series 19992023-1 Notes 4 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2023-4 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992023-1 4 Percentage as of the immediately beginning of such Series 2023-4 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-4 Collection Account and deposited in the Series 2023-4 Excess Collection Account; and (ii) on each Distribution Date during the Series 2023-4 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2023-4 Percentage as of the beginning of such Series 2023-4 Interest Period ending on the day preceding such Distribution Date of the Trustee’s 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 19992023-1 4 Percentage as of the beginning of such Series 2023-4 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992023-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2023-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992023-1 4 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992023-1 Collection Account and paid to 4 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2023-4 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992021-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992021-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992021-1 Revolving Period or the Series 2021-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2021-1 Percentage as of the beginning of the Series 19992021-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2021-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992021-1 Percentage as of the immediately preceding 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 2021-1 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 Trustee’s fees for the beginning of such Series 19992021-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Base Indenture for such Series 2021-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2021-1 Percentage as of the beginning of such Series 2021-1 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 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, in an amount equal to the Series 19992021-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2021-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992021-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992021-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992021-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992015-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992015-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992015-1 Revolving Period or the Series 2015-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2015-1 Percentage as of the beginning of the Series 19992015-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2015-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992015-1 Percentage as of the immediately preceding 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 2015-1 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 Trustee’s fees for the beginning of such Series 19992015-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Indenture for such Series 2015-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2015-1 Percentage as of the beginning of such Series 2015-1 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 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, in an amount equal to the Series 19992015-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2015-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992015-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992015-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992015-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the -26- payments required in Section 3.3(a) of this Series Supplement)), if any, of the Interest Collections allocated to amounts available from the Series 19992002-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) 3 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 19992002-1 3 Revolving Period, (1) first, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 AFC-II (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2002-3 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992002-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-3 Interest Period of the Trustee’s 's fees for the such Series 19992002-1 3 Interest Period ending on such current Distribution DatePeriod, (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, in an amount equal to the Series 19992002-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992002-1 3 Interest Period and (45) fourthfifth, the balance, if anyany ("EXCESS COLLECTIONS"), shall be withdrawn by the Trustee Paying Agent from the Series 19992002-1 3 Collection Account and paid to deposited in the IssuerSeries 2002-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 19992002-1 Rapid 3 Amortization Period, (1) first, to the Trustee, in an amount equal to the Series 19992002-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-3 Interest Period of the Trustee’s 's fees for the such Series 19992002-1 3 Interest Period ending on such current Distribution DatePeriod, (2) second, to the ServicerAdministrator, in 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 Servicing Administration Fee with respect to (as specified in clause (iii) of the Series 1999-1 Notes definition thereof) payable by the Issuer pursuant to Section 26.1 of the Lease on AFC-II for such Distribution DateSeries 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, in an amount equal to the Series 19992002-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2002-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992002-1 3 Interest Period and (45) fourthfifth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992019-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 3 Accrued Interest Account and the Series 19992019-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992019-1 3 Revolving Period or the Series 2019-3 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2019-3 Percentage as of the beginning of the Series 19992019-1 Notes 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2019-3 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992019-1 3 Percentage as of the immediately beginning of such Series 2019-3 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2019-3 Collection Account and deposited in the Series 2019-3 Excess Collection Account; and (ii) on each Distribution Date during the Series 2019-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2019-3 Percentage as of the beginning of such Series 2019-3 Interest Period ending on the day preceding such Distribution Date of the Trustee’s 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 19992019-1 3 Percentage as of the beginning of such Series 2019-3 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992019-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2019-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992019-1 3 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992019-1 Collection Account and paid to 3 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2019-3 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992023-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 7 Accrued Interest Account and the Series 19992023-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992023-1 7 Revolving Period or the Series 2023-7 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2023-7 Percentage as of the beginning of the Series 19992023-1 Notes 7 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2023-7 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992023-1 7 Percentage as of the immediately beginning of such Series 2023-7 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-7 Collection Account and deposited in the Series 2023-7 Excess Collection Account; and (ii) on each Distribution Date during the Series 2023-7 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2023-7 Percentage as of the beginning of such Series 2023-7 Interest Period ending on the day preceding such Distribution Date of the Trustee’s 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 19992023-1 7 Percentage as of the beginning of such Series 2023-7 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992023-1 7 Percentage as of the immediately preceding Distribution Date beginning of such Series 2023-7 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992023-1 7 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992023-1 Collection Account and paid to 7 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2023-7 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992019-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992019-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992019-1 2 Revolving Period or the Series 2019-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2019-2 Percentage as of the beginning of the Series 19992019-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2019-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992019-1 2 Percentage as of the immediately beginning of such Series 2019-2 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2019-2 Collection Account and deposited in the Series 2019-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2019-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2019-2 Percentage as of the beginning of such Series 2019-2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s 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 19992019-1 2 Percentage as of the beginning of such Series 2019-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992019-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2019-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992019-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992019-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2019-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On the fourth Business Day prior to each Distribution Payment Date, the Servicer Administrator shall instruct the Trustee in writing pursuant to pay the Administration Agreement to pay, on such Payment Date, the balance (after making the payments required in Section 3.3(a) 3.4 of this Series Supplement), if any, of the Interest Collections allocated to amounts available from the Series 19992005-1 Noteholder since 3 Accrued Interest Account plus the preceding Distribution Date (less any portion thereof paid to amount, if any, withdrawn from the Series 1999-1 Noteholder during such period Class A Reserve Account pursuant to Section 3.3(c3.3(d)(i) belowof 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 Distribution Interest Rate Hedge Provider, in an amount equal to the portion of the Monthly Hedge Payment for such Payment Date during the Series 1999-1 Revolving Period, payable to such Interest Rate Hedge Provider; (1ii) firstsecond, to the ServicerInsurer, 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 Monthly Servicing Fee with respect to 2005-3 Percentage as of the beginning of the Series 19992005-1 Notes payable by 3 Interest Period ending on the Issuer pursuant to Section 26.1 day preceding such Payment Date of the Lease on Monthly Administration Fee for such Distribution Date, Series 2005-3 Interest Period; (2iv) secondfourth, to the Trustee, in an amount equal to the Series 19992005-1 3 Percentage as of the immediately beginning of the Series 2005-3 Interest Period ending on the day preceding Distribution such Payment Date of the Trustee’s fees for the such Series 19992005-1 3 Interest Period ending Period; (v) fifth, on such current Distribution Datea pro rata basis, (3x) thirdto 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)) to the Persons to whom such amounts are owed, in an amount equal to the Series 19992005-1 3 Percentage as of the immediately beginning of the Series 2005-3 Interest Period ending on the day preceding Distribution such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 19992005-1 3 Interest Period and Period; and (4vi) fourthsixth, the balance, if any, shall be withdrawn from the Series 2005-3 Accrued Interest Account by the Trustee from the Series 1999-1 Collection Account and paid to the Issuer; and (iiA) on each Distribution Date during the Series 19992005-1 3 Revolving Period, deposited into the Series 2005-3 Excess Collection Account or (B) during the Series 2005-3 Rapid Amortization Period, (1) first, to the Trustee, in an amount equal to deposited into the Series 19992005-1 Percentage 3 Collection Account and treated as of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series SupplementPrincipal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992020-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 2 Accrued Interest Account and the Series 19992020-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992020-1 2 Revolving Period or the Series 2020-2 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2020-2 Percentage as of the beginning of the Series 19992020-1 Notes 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2020-2 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992020-1 2 Percentage as of the immediately beginning of such Series 2020-2 Interest Period of the fees owing to the Trustee under the Base Indenture 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, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2020-2 Collection Account and deposited in the Series 2020-2 Excess Collection Account; and (ii) on each Distribution Date during the Series 2020-2 Rapid Amortization Period, (1) first, 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 Trustee’s 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 19992020-1 2 Percentage as of the beginning of such Series 2020-2 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992020-1 2 Percentage as of the immediately preceding Distribution Date beginning of such Series 2020-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992020-1 2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992020-1 Collection Account and paid to 2 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2020-2 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992012-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to Accrued Interest Account and the Series 19992012-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992012-1 Revolving Period or the Series 2012-1 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2012-1 Percentage as of the beginning of the Series 19992012-1 Notes Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2012-1 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992012-1 Percentage as of the immediately preceding 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 2012-1 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 Trustee’s fees for the beginning of such Series 19992012-1 Interest Period ending on the day preceding such current Distribution DateDate of the fees owing to the Trustee under the Indenture for such Series 2012-1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2012-1 Percentage as of the beginning of such Series 2012-1 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 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, in an amount equal to the Series 19992012-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 2012-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992012-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992012-1 Collection Account and paid to Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, shall be applied to reduce the Series 19992012-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementover 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 second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a2.3(a) of this Series Supplement), if any, of the Interest Collections allocated to holders of the Series 19991998-1 Noteholder Notes since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) as follows: (i) on each Distribution Date during the Series 19991998-1 Revolving Period or the Series 1998-1 Controlled Amortization Period, (1) first, to the ServicerSurety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series Monthly Servicing Fee with respect to the Series 19991998-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution DateInterest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the TrusteeAdministrator, in an amount equal to the Series 19991998-1 Percentage as of the immediately preceding Distribution Date beginning of the Trustee’s fees for the such Series 19991998-1 Interest Period ending on of the portion of the Monthly Administration Fee payable by AFC-II (as specified in clause (iii) of the definition thereof) for such current Distribution DateSeries 1998-1 Interest Period, (3) third, 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, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 19991998-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 1998-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19991998-1 Interest Period and (45) fourthfifth, the balance, if anyany ("Excess Collections"), shall be withdrawn by the Trustee Paying Agent from the Series 19991998-1 Collection Account and paid to deposited in the IssuerSeries 1998-1 Excess Collection Account; and (ii) on each Distribution Date during the Series 19991998-1 Rapid Amortization Period, (1) first, to the TrusteeSurety Provider, in an amount equal to (x) the Series 1999-1 Percentage as of the immediately preceding Distribution Date of the Trustee’s fees Surety Provider Fee for the related Series 19991998-1 Interest Period ending on such current Distribution Dateand, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the ServicerTrustee, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 19991998-1 Notes payable by the Issuer pursuant to Section 26.1 Percentage as of the Lease on beginning of such Distribution DateSeries 1998-1 Interest Period of the Trustee's fees for such Series 1998-1 Interest Period, (3) 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, in an amount equal to the Series 19991998-1 Percentage as of the immediately preceding Distribution Date beginning of such Series 1998-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19991998-1 Interest Period and (45) fourthfifth, the balance, if any, shall constitute Excess Collections and shall be applied to reduce withdrawn by the Paying Agent from the Series 19991998-1 Invested Amount on such current Distribution Date Collection Account and deposited in accordance with Section 3.4 of this the Series Supplement1998-1 Excess Collection Account.

Appears in 1 contract

Samples: Series Supplement (Avis Group Holdings Inc)

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992011-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 5 Accrued Interest Account and the Series 19992011-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992011-1 5 Revolving Period or the Series 2011-5 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2011-5 Percentage as of the beginning of the Series 19992011-1 Notes 5 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2011-5 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992011-1 5 Percentage as of the immediately beginning of such Series 2011-5 Interest Period of the fees owing to the Trustee under the Indenture 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, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2011-5 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2011-5 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992011-1 5 Percentage as of the beginning of such Series 2011-5 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992011-1 5 Percentage as of the immediately preceding Distribution Date beginning of such Series 2011-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992011-1 5 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992011-1 Collection Account and paid to 5 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2011-5 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992010-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 4 Accrued Interest Account and the Series 19992010-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992010-1 4 Revolving Period or the Series 2010-4 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2010-4 Percentage as of the beginning of the Series 19992010-1 Notes 4 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2010-4 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992010-1 4 Percentage as of the immediately beginning of such Series 2010-4 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2010-4 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 2010-4 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 2010-4 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2010-4 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992010-1 4 Percentage as of the beginning of such Series 2010-4 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 2010-4 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, in an amount equal to the Series 19992010-1 4 Percentage as of the immediately preceding Distribution Date beginning of such Series 2010-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992010-1 4 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992010-1 Collection Account and paid to 4 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2010-4 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Servicer Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a) of this Series Supplement2.4), if any, of the Interest Collections allocated to amounts available from the Series 19992011-1 Noteholder since the preceding Distribution Date (less any portion thereof paid to 3 Accrued Interest Account and the Series 19992011-1 Noteholder during such period 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 3.3(c2.3(c) belowplus 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 19992011-1 3 Revolving Period or the Series 2011-3 Controlled Amortization Period, (1) first, to the ServicerAdministrator, in an amount equal to the Series Monthly Servicing Fee with respect to 2011-3 Percentage as of the beginning of the Series 19992011-1 Notes 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by the Issuer pursuant to Section 26.1 ABRCF (as specified in clause (iii) of the Lease on definition thereof) for such Distribution DateSeries 2011-3 Interest Period, (2) second, to the Trustee, in an amount equal to the Series 19992011-1 3 Percentage as of the immediately beginning of such Series 2011-3 Interest Period of the fees owing to the Trustee under the Indenture 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, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2011-3 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 Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2011-3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 19992011-1 3 Percentage as of the beginning of such Series 2011-3 Interest Period ending on of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such current Distribution DateSeries 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, in an amount equal to the Series 19992011-1 3 Percentage as of the immediately preceding Distribution Date beginning of such Series 2011-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 19992011-1 3 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Trustee from so long as the Series 19992011-1 Collection Account and paid to 3 Invested Amount is greater than the Issuer; and (ii) on each Distribution Date during Monthly Total Principal Allocations for the Series 1999-1 Rapid Amortization PeriodRelated Month, (1) first, to the Trustee, in an amount equal to the Series 1999-1 Percentage as excess of the immediately preceding Distribution Date of Series 2011-3 Invested Amount over the Trustee’s fees Monthly Total Principal Allocations for the Series 1999-1 Interest Period ending on such current Distribution Date, (2) second, to the Servicer, in an amount equal to the Series Monthly Servicing Fee with respect to the Series 1999-1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on such Distribution Date, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 1999-1 Percentage as of the immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1999-1 Interest Period and (4) fourth, the balance, if any, Related Month shall be applied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplementtreated as Principal Collections.

Appears in 1 contract

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

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