Common use of Class A/B/C Reserve Account Withdrawal Clause in Contracts

Class A/B/C Reserve Account Withdrawal. If the amounts to be deposited in the Series 2018-1 Distribution Account in accordance with Section 2.5(c)(i) and (ii) will be less than the Class D Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Class A/B/C Reserve Account, an amount equal to the lesser of (x) the Class A/B/C Available Reserve Account Amount and (y) the amount by which the Class D Principal Deficit Amount exceeds the amounts to be deposited in the Series 2018-1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(e) and deposit it in the Series 2018-1 Distribution Account on such Distribution Date.

Appears in 1 contract

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

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Class A/B/C Reserve Account Withdrawal. If the amounts to be deposited in the Series 2018-1 2 Distribution Account in accordance with Section 2.5(c)(i) and (ii) will be less than the Class D Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Class A/B/C Reserve Account, an amount equal to the lesser of (x) the Class A/B/C Available Reserve Account Amount and (y) the amount by which the Class D Principal Deficit Amount exceeds the amounts to be deposited in the Series 2018-1 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(e) and deposit it in the Series 2018-1 2 Distribution Account on such Distribution Date.

Appears in 1 contract

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

Class A/B/C Reserve Account Withdrawal. If the amounts to be deposited in the Series 20182019-1 2 Distribution Account in accordance with Section 2.5(c)(i) and (ii) will be less than the Class D Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Class A/B/C Reserve Account, an amount equal to the lesser of (x) the Class A/B/C Available Reserve Account Amount and (y) the amount by which the Class D Principal Deficit Amount exceeds the amounts to be deposited in the Series 20182019-1 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(e) and deposit it in the Series 20182019-1 2 Distribution Account on such Distribution Date.

Appears in 1 contract

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

Class A/B/C Reserve Account Withdrawal. If the amounts to be deposited in the Series 20182017-1 2 Distribution Account in accordance with Section 2.5(c)(i) and (ii) will be less than the Class D Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Class A/B/C Reserve Account, an amount equal to the lesser of (x) the Class A/B/C Available Reserve Account Amount and (y) the amount by which the Class D Principal Deficit Amount exceeds the amounts to be deposited in the Series 20182017-1 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(e) and deposit it in the Series 20182017-1 2 Distribution Account on such Distribution Date.

Appears in 1 contract

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

Class A/B/C Reserve Account Withdrawal. If the amounts to be deposited in the Series 20182019-1 3 Distribution Account in accordance with Section 2.5(c)(i) and (ii) will be less than the Class D Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Class A/B/C Reserve Account, an amount equal to the lesser of (x) the Class A/B/C Available Reserve Account Amount and (y) the amount by which the Class D Principal Deficit Amount exceeds the amounts to be deposited in the Series 20182019-1 3 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(e) and deposit it in the Series 20182019-1 3 Distribution Account on such Distribution Date.

Appears in 1 contract

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

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Class A/B/C Reserve Account Withdrawal. If the amounts to be deposited in the Series 2018-1 Distribution Account in accordance with Section 2.5(c)(i) and (ii) Class A/B/C Letter of Credit Amount will be less than the Class D A/B/C Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Class A/B/C Reserve Account, an amount equal to the lesser of (x) the Class A/B/C Available Reserve Account Amount and (y) the amount by which the Class D A/B/C Principal Deficit Amount exceeds the amounts to be deposited in the Series 20182017-1 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(e2.5(d) and deposit it in the Series 20182017-1 2 Distribution Account on such Distribution Date.

Appears in 1 contract

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

Class A/B/C Reserve Account Withdrawal. If the amounts to be deposited in the Series 20182020-1 Distribution Account in accordance with Section 2.5(c)(i) and (ii) will be less than the Class D Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Class A/B/C Reserve Account, an amount equal to the lesser of (x) the Class A/B/C Available Reserve Account Amount and (y) the amount by which the Class D Principal Deficit Amount exceeds the amounts to be deposited in the Series 20182020-1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(e) and deposit it in the Series 20182020-1 Distribution Account on such Distribution Date.

Appears in 1 contract

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

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