Common use of Class A Reserve Account Withdrawal Clause in Contracts

Class A Reserve Account Withdrawal. On each Payment Date on which the Principal Deficit Amount is greater than zero, the Administrator shall instruct the Trustee in writing prior to 12:00 noon (New York City time) on such Payment Date, in the case of a Principal Deficit Amount resulting from a Series 2005-3 Lease Payment Deficit, or prior to 12:00 noon (New York City time) on the second Business Day prior to such Payment Date, in the case of any other Principal Deficit Amount, to withdraw from the Class A Reserve Account, an amount equal to the sum of (I) the lesser of such Principal Deficit Amount (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to Section 3.5(c)(i)(A) of this Series Supplement) and the Class A Liquidity Surplus on such Payment Date (after giving effect to any withdrawals from the Class A Reserve Account on such Payment Date pursuant to Section 3.3(d)(i) of this Series Supplement and the amounts to be drawn under the Class A Letters of Credit pursuant to Section 3.3(e)(I) of this Series Supplement) and (II) the lesser of (x) such Principal Deficit Amount (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to Section 3.5(c)(i)(A) of this Series Supplement and any withdrawals from the Class A Reserve Account pursuant to clause (I) above) on such Payment Date and (y) the Class A Available Reserve Account Amount on such Payment Date (after giving effect to any withdrawals from the Class A Reserve Account on such Payment Date pursuant to Section 3.3(d)(i) of this Series Supplement and pursuant to clause (I) above), and deposit such withdrawal in the Series 2005-3 Distribution Account on such Payment Date. (ii) Principal Draws on Series 2005-3

Appears in 1 contract

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

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Class A Reserve Account Withdrawal. On each Payment Date on which the Principal Deficit Amount is greater than zero, the Administrator shall instruct the Trustee in writing prior to 12:00 noon (New York City time) on such Payment Date, in the case of a Principal Deficit Amount resulting from a Series 2005-3 4 Lease Payment Deficit, or prior to 12:00 noon (New York City time) on the second Business Day prior to such Payment Date, in the case of any other Principal Deficit Amount, to withdraw from the Class A Reserve Account, an amount equal to the sum of (I) the lesser of such Principal Deficit Amount (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to Section 3.5(c)(i)(A) of this Series Supplement) and the Class A Liquidity Surplus on such Payment Date (after giving effect to any withdrawals from the Class A Reserve Account on such Payment Date pursuant to Section 3.3(d)(i) of this Series Supplement and the amounts to be drawn under the Class A Letters of Credit pursuant to Section 3.3(e)(I) of this Series Supplement) and (II) the lesser of (x) such Principal Deficit Amount (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to Section 3.5(c)(i)(A) of this Series Supplement and any withdrawals from the Class A Reserve Account pursuant to clause (I) above) on such Payment Date and (y) the Class A Available Reserve Account Amount on such Payment Date (after giving effect to any withdrawals from the Class A Reserve Account on such Payment Date pursuant to Section 3.3(d)(i) of this Series Supplement and pursuant to clause (I) above), and deposit such withdrawal in the Series 2005-3 4 Distribution Account on such Payment Date. (ii) Principal Draws on Series 2005-34

Appears in 1 contract

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

Class A Reserve Account Withdrawal. On each Payment Date on which the Principal Deficit Amount is greater than zero, the Administrator shall instruct the Trustee in writing prior to 12:00 noon (New York City time) on such Payment Date, in the case of a Principal Deficit Amount resulting from a Series 2005-3 2 Lease Payment Deficit, or prior to 12:00 noon (New York City time) on the second Business Day prior to such Payment Date, in the case of any other Principal Deficit Amount, to withdraw from the Class A Reserve Account, an amount equal to the sum of (I) the lesser of such Principal Deficit Amount (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to Section 3.5(c)(i)(A2.5(b)(i)(A) of this Series Supplement) and the Class A Liquidity Surplus on such Payment Date (after giving effect to any withdrawals from the Class A Reserve Account on such Payment Date pursuant to Section 3.3(d)(i2.3(d)(i) of this Series Supplement and the amounts to be drawn under the Class A Letters of Credit pursuant to Section 3.3(e)(I2.3(e)(I) of this Series Supplement) and (II) the lesser of (x) such Principal Deficit Amount (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to Section 3.5(c)(i)(A2.5(b)(i)(A) of this Series Supplement and any withdrawals from the Class A Reserve Account pursuant to clause (I) above) on such Payment Date and (y) the Class A Available Reserve Account Amount on such Payment Date (after giving effect to any withdrawals from the Class A Reserve Account on such Payment Date pursuant to Section 3.3(d)(i2.3(d)(i) of this Series Supplement and pursuant to clause (I) above), and deposit such withdrawal in the Series 2005-3 2 Distribution Account on such Payment Date. (ii) Principal Draws on Series 2005-32

Appears in 1 contract

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

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Class A Reserve Account Withdrawal. On each (A) If, on the Three-Year Notes Legal Final Payment Date on which the Principal Deficit Amount is greater than zeroDate, the Administrator shall instruct amount to be deposited in the Trustee Series 2009-2 Distribution Account for the related Series 2009-2 Rapid Amortization Principal Collection Period in writing prior accordance with subclause (v) of Section 2.5(a) of this Series Supplement, together with any amounts to 12:00 noon (New York City timebe deposited in the Series 2009-2 Distribution Account in accordance with Section 2.5(b)(iv) of this Series Supplement on such Three-Year Notes Legal Final Payment Date, in each case, to pay principal of the case Class A-1 Notes, will be less than the aggregate Principal Amount of a Principal Deficit Amount resulting from a Series 2005the Class A-1 Notes on the Three-3 Lease Year Notes Legal Final Payment DeficitDate, or then, prior to 12:00 noon 10:30 a.m. (New York City time) on the second Business Day prior to such the Three-Year Notes Legal Final Payment Date, in the case of any other Principal Deficit Amount, Administrator shall instruct the Trustee to withdraw from the Class A Reserve Account, an amount equal to the sum lesser of (Ii) the lesser of such Principal Deficit amount by which the Class A Liquidity Amount (after giving effect to any withdrawals from the Class B A Reserve Account on such Payment Date pursuant to Section 3.5(c)(i)(A2.3(d) of this Series Supplement and any draws under the Class A Letters of Credit and/or withdrawals from each Class A Cash Collateral Account, pursuant to Section 2.3(e) and Section 2.5(b)(iv) of this Series Supplement anticipated to be made on such Three-Year Notes Legal Final Payment Date) will exceed the Class A Required Liquidity Amount (after giving effect to all anticipated reductions in the aggregate Principal Amount of the Class A-1 Notes on such Three-Year Notes Legal Final Payment Date) and (ii) such insufficiency, and deposit such withdrawn amounts in the Series 2009-2 Distribution Account on or prior to the Three-Year Notes Legal Final Payment Date. The Trustee shall withdraw such amount from the Class A Reserve Account and deposit such amount in the Series 2009-2 Distribution Account on or prior to the Three-Year Notes Legal Final Payment Date. (B) If, on the Five-Year Notes Legal Final Payment Date, the amount to be deposited in the Series 2009-2 Distribution Account for the related Series 2009-2 Rapid Amortization Principal Collection Period in accordance with subclause (v) of Section 2.5(a) of this Series Supplement, together with any amounts to be deposited in the Series 2009-2 Distribution Account in accordance with Section 2.5(b)(iv) and of this Series Supplement on such Five-Year Notes Legal Final Payment Date, in each case, to pay principal of the Class A-2 Notes, is less than the aggregate Principal Amount of the Class A-2 Notes on the Five-Year Notes Legal Final Payment Date, then, prior to 10:30 a.m. (New York City time) on the second Business Day prior to the Five-Year Notes Legal Final Payment Date, the Administrator shall instruct the Trustee to withdraw from the Class A Liquidity Surplus Reserve Account, an amount equal to the lesser of (i) the Class A Available Reserve Account Amount on such the Five-Year Notes Legal Final Payment Date (after giving effect to any withdrawals from the Class A Reserve Account on such Payment Date pursuant to Section 3.3(d)(i2.3(d) of this Series Supplement and the amounts anticipated to be drawn under the Class A Letters of Credit pursuant to Section 3.3(e)(I) of this Series Supplement) made on such Five-Year Notes Legal Final Payment Date), and (II) the lesser of (xii) such Principal Deficit Amount (after giving effect to any withdrawals from insufficiency, and deposit such withdrawn amounts in the Class B Reserve Series 2009-2 Distribution Account on or prior to the Five-Year Notes Legal Final Payment Date. The Trustee shall withdraw such Payment Date pursuant to Section 3.5(c)(i)(A) of this Series Supplement and any withdrawals amount from the Class A Reserve Account pursuant to clause (I) above) on such Payment Date and (y) the Class A Available Reserve Account Amount on such Payment Date (after giving effect to any withdrawals from the Class A Reserve Account on such Payment Date pursuant to Section 3.3(d)(i) of this Series Supplement and pursuant to clause (I) above), and deposit such withdrawal amount in the Series 20052009-3 2 Distribution Account on such or prior to the Five-Year Notes Legal Final Payment Date. (ii) Principal Draws on Series 2005-3

Appears in 1 contract

Samples: Series Supplement (Hertz Global Holdings Inc)

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