Common use of Class B Reserve Account Withdrawal Clause in Contracts

Class B 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 B Reserve Account, an amount equal to the sum of (I) the lesser of such Principal Deficit Amount and the Class B Liquidity Surplus on such Payment Date (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to Section 3.3(d)(ii) of this Series Supplement and any draws under the Class B Letters of Credit pursuant to Section 3.3(e)(II) of this Series Supplement) and (II) the lesser of (x) the excess, if any, of such Principal Deficit Amount on such Payment Date (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to clause (I) above) over 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 (y) the Class B Available Reserve Account Amount on such Payment Date (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to Section 3.3(d)(ii) 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.

Appears in 1 contract

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

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Class B Reserve Account Withdrawal. On each If, on any Determination Date relating to a Payment Date on which the Class A Notes will no longer be Outstanding (after giving effect to all anticipated reductions in the Class A Principal Amount to be made on such Payment Date) (other than the Determination Date related to the Three-Year Notes Legal Final Payment Date or the Five-Year Notes Legal Final Payment Date) the Administrator determines that the Class B Principal Deficit Amount is with respect to such Payment Date will be greater than zerozero (after giving effect to any withdrawals from the Class A Reserve Account with respect to such Payment Date pursuant to Section 2.5(c)(i)(A) of this Series Supplement and the application thereof pursuant to Section 2.5(e) of this Series Supplement on such Payment Date), then 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 DateDate to withdraw, in the case of any other Principal Deficit Amount, to withdraw from the Class B Reserve Account, an amount equal to the sum of (I) the lesser of such Principal Deficit Amount and the Class B Liquidity Surplus on such Payment Date (after giving effect to any withdrawals Trustee shall withdraw, from the Class B Reserve Account on such Payment Date pursuant an amount equal to Section 3.3(d)(ii) of this Series Supplement and any draws under the Class B Letters of Credit pursuant to Section 3.3(e)(II) of this Series Supplement) and (II) the lesser of (x) the excess, if any, of such Class B Principal Deficit Amount on such Payment Date (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to clause (I) above) over the Class A Liquidity Surplus on such Payment Date (after giving effect amount to any withdrawals be withdrawn from the Class A Reserve Account on with respect to such Payment Date pursuant to Section 3.3(d)(i2.5(c)(i)(A) 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 (y) the Class B Available Reserve Account Amount on such Payment Date (after giving effect to any withdrawals from the Class B Reserve Account anticipated to be made on such Payment Date pursuant to Section 3.3(d)(ii2.3(d)(ii) of this Series Supplement and pursuant to clause (I) aboveSupplement), and deposit such withdrawal in the Series 20052009-3 2 Distribution Account on such Payment Date.

Appears in 1 contract

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

Class B 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 B Reserve Account, an amount equal to the sum of (I) the lesser of such Principal Deficit Amount and the Class B Liquidity Surplus on such Payment Date (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to Section 3.3(d)(ii) of this Series Supplement and any draws under the Class B Letters of Credit pursuant to Section 3.3(e)(II) of this Series Supplement) and (II) the lesser of (x) the excess, if any, of such Principal Deficit Amount on such Payment Date (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to clause (I) above) over 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 (y) the Class B Available Reserve Account Amount on such Payment Date (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to Section 3.3(d)(ii) 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.

Appears in 1 contract

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

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Class B 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 B Reserve Account, an amount equal to the sum of (I) the lesser of such Principal Deficit Amount and the Class B Liquidity Surplus on such Payment Date (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to Section 3.3(d)(ii2.3(d)(ii) of this Series Supplement and any draws under the Class B Letters of Credit pursuant to Section 3.3(e)(II2.3(e)(II) of this Series Supplement) and (II) the lesser of (x) the excess, if any, of such Principal Deficit Amount on such Payment Date (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to clause (I) above) over 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 (y) the Class B Available Reserve Account Amount on such Payment Date (after giving effect to any withdrawals from the Class B Reserve Account on such Payment Date pursuant to Section 3.3(d)(ii2.3(d)(ii) 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.

Appears in 1 contract

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

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