Common use of Class C Reserve Account Withdrawal Clause in Contracts

Class C Reserve Account Withdrawal. If the amounts to be deposited in the Series 2013-1 Distribution Account in accordance with Section 2.5(e)(i) through (iv) 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 C Reserve Account, an amount equal to the lesser of (x) the Class C 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) through (iv) 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.)

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Class C Reserve Account Withdrawal. If the amounts to be deposited in the Series 20132011-1 3 Distribution Account in accordance with Section 2.5(e)(i) through (iv) 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 C Reserve Account, an amount equal to the lesser of (x) the Class C 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) through (iv) 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.)

Class C Reserve Account Withdrawal. If the amounts to be deposited in the Series 2013-1 2 Distribution Account in accordance with Section 2.5(e)(i) through (iv) 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 C Reserve Account, an amount equal to the lesser of (x) the Class C 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) through (iv) 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 C Reserve Account Withdrawal. If the amounts to be deposited in the Series 20132011-1 5 Distribution Account in accordance with Section 2.5(e)(i) through (iv) 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 C Reserve Account, an amount equal to the lesser of (x) the Class C 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) through (iv) 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.)

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Class C Reserve Account Withdrawal. If the amounts to be deposited in the Series 20132012-1 3 Distribution Account in accordance with Section 2.5(e)(i) through (iv) 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 C Reserve Account, an amount equal to the lesser of (x) the Class C 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) through (iv) of this Section 2.5(e) and deposit it in the Series 20132012-1 3 Distribution Account on such Distribution Date.

Appears in 1 contract

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

Class C Reserve Account Withdrawal. If the amounts to be deposited in the Series 20132012-1 2 Distribution Account in accordance with Section 2.5(e)(i) through (iv) will NEWYORK 8960490 (2K)A&R Series 2012-2 Supplement (Class C Note issuance) 48 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 C Reserve Account, an amount equal to the lesser of (x) the Class C 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) through (iv) 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.)

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