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

Class A/B Reserve Account Withdrawal. If the amounts to be deposited in the Series 2013-1 Distribution Account in accordance with Section 2.5(c)(i) and (ii) will be less than the Class 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 Reserve Account, an amount equal to the lesser of (x) the Class A/B Available Reserve Account Amount and (y) the amount by which the Class C Principal Deficit Amount exceeds the amounts to be deposited in the Series 2013-1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(e) and deposit it in the Series 2013-1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Amended and Restated Series 2013 1 Supplement (Avis Budget Group, Inc.)

AutoNDA by SimpleDocs

Class A/B Reserve Account Withdrawal. If the amounts to be deposited in the Series 20132012-1 2 Distribution Account in accordance with Section 2.5(c)(i) and (ii) will be less than the Class 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 Reserve Account, an amount equal to the lesser of (x) the Class A/B Available Reserve Account Amount and (y) the amount by which the Class C Principal Deficit Amount exceeds the amounts to be deposited in the Series 20132012-1 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(e) and deposit it in the Series 20132012-1 2 Distribution Account on such Distribution Date.

Appears in 1 contract

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

Class A/B Reserve Account Withdrawal. If the amounts to be deposited in the Series 20132012-1 3 Distribution Account in accordance with Section 2.5(c)(i) and (ii) will be less than the Class 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 Reserve Account, an amount equal to the lesser of (x) the Class A/B Available Reserve Account Amount and (y) the amount by which the Class C Principal Deficit Amount exceeds the amounts to be deposited in the Series 20132012-1 3 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(e) and deposit it in the Series 20132012-1 3 Distribution Account on such Distribution Date.. NEWYORK 8960493 (2K)A&R Series 2012-3 Supplement (Class C Note issuance) 48

Appears in 1 contract

Samples: Amended and Restated Series 2012 3 Supplement (Avis Budget Group, Inc.)

Class A/B Reserve Account Withdrawal. If the amounts to be deposited in the Series 20132011-1 3 Distribution Account in accordance with Section 2.5(c)(i) and (ii) will be less than the Class 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 Reserve Account, an amount equal to the lesser of (x) the Class A/B Available Reserve Account Amount and (y) the amount by which the Class C Principal Deficit Amount exceeds the amounts to be deposited in the Series 20132011-1 3 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(e) and deposit it in the Series 20132011-1 3 Distribution Account on such Distribution Date.

Appears in 1 contract

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

AutoNDA by SimpleDocs

Class A/B Reserve Account Withdrawal. If the amounts to be deposited in the Series 2013-1 2 Distribution Account in accordance with Section 2.5(c)(i) and (ii) will be less than the Class 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 Reserve Account, an amount equal to the lesser of (x) the Class A/B Available Reserve Account Amount and (y) the amount by which the Class C Principal Deficit Amount exceeds the amounts to be deposited in the Series 2013-1 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(e) and deposit it in the Series 2013-1 2 Distribution Account on such Distribution Date.

Appears in 1 contract

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

Class A/B Reserve Account Withdrawal. If the amounts to be deposited in the Series 20132011-1 5 Distribution Account in accordance with Section 2.5(c)(i) and (ii) will be less than the Class 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 Reserve Account, an amount equal to the lesser of (x) the Class A/B Available Reserve Account Amount and (y) the amount by which the Class C Principal Deficit Amount exceeds the amounts to be deposited in the Series 20132011-1 5 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(e) and deposit it in the Series 20132011-1 5 Distribution Account on such Distribution Date.

Appears in 1 contract

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

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!