Common use of Class R Monthly Interest Clause in Contracts

Class R Monthly Interest. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 3.4 from the Series 2010-6 Reserve Account in respect of (x) first, an amount equal to the aggregate Class R Monthly Interest for the Series 2010-6 Interest Period ending on the day preceding the related Distribution Date and (y) second, the amount of any unpaid Class R Monthly Interest Shortfall as of the preceding Distribution Date. On the following Distribution Date, the Trustee shall withdraw the lesser of (x) the amounts described in the first sentence of this Section 3.3(j) and (y) the excess of the Series 2010-6 Available Reserve Account Amount (after giving effect to any withdrawals from the Series 2010-6 Reserve Account pursuant to Section 3.3(b), 3.3(i), 3.5(c)(i) and/or 3.5(d)(i) with respect to such Distribution Date) over the Series 2010-6 Required Reserve Account Amount on such Distribution Date, from the Series 2010-6 Reserve Account and deposit such amount in the Series 2010-6 Distribution Account.

Appears in 2 contracts

Samples: Sixth Amended and Restated Series 2010 6 Supplement (Avis Budget Group, Inc.), Fifth Amended and Restated Series 2010 6 Supplement (Avis Budget Group, Inc.)

AutoNDA by SimpleDocs

Class R Monthly Interest. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 3.4 from the Series 20102015-6 3 Reserve Account in respect of (x) first, an amount equal to the aggregate Class R Monthly Interest for the Series 20102015-6 3 Interest Period ending on the day preceding the related Distribution Date and (y) second, the amount of any unpaid Class R Monthly Interest Shortfall as of the preceding Distribution Date. On the following Distribution Date, the Trustee shall withdraw the lesser of (x) the amounts described in the first sentence of this Section 3.3(j) and (y) the excess of the Series 20102015-6 3 Available Reserve Account Amount (after giving effect to any withdrawals from the Series 20102015-6 3 Reserve Account pursuant to Section 3.3(b), 3.3(i), 3.5(c)(i) and/or 3.5(d)(i) with respect to such Distribution Date) over the Series 20102015-6 3 Required Reserve Account Amount on such Distribution Date, from the Series 20102015-6 3 Reserve Account and deposit such amount in the Series 20102015-6 3 Distribution Account.

Appears in 2 contracts

Samples: Fourth Amended and Restated Series 2015 3 Supplement (Avis Budget Group, Inc.), Third Amended and Restated Series 2015 3 Supplement (Avis Budget Group, Inc.)

Class R Monthly Interest. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 3.4 from the Series 2010-6 Reserve Account in respect of (x) first, an amount equal to the aggregate Class R Monthly Interest for the Series 2010-6 Interest Period ending on the day preceding the related Distribution Date and (y) second, the amount of any unpaid Class R Monthly Interest Shortfall as of the preceding Distribution Date. On the following Distribution Date, the Trustee shall withdraw the lesser of (x) the amounts described in the first sentence of this Section 3.3(j3.3(i) and (y) the excess of the Series 2010-6 Available Reserve Account Amount (after giving effect to any withdrawals from the Series 2010-6 Reserve Account pursuant to Section 3.3(b), 3.3(i3.3(h), 3.5(c)(i) and/or 3.5(d)(i) with respect to such Distribution Date) over the Series 2010-6 Required Reserve Account Amount on such Distribution Date, from the Series 2010-6 Reserve Account and deposit such amount in the Series 2010-6 Distribution Account.

Appears in 2 contracts

Samples: Fourth Amended and Restated Series 2010 6 Supplement (Avis Budget Group, Inc.), Third Amended and Restated Series 2010 6 Supplement (Avis Budget Group, Inc.)

Class R Monthly Interest. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 3.4 from the Series 20102015-6 3 Reserve Account in respect of (x) first, an amount equal to the aggregate Class R Monthly Interest for the Series 20102015-6 3 Interest Period ending on the day preceding the related Distribution Date and (y) second, the amount of any unpaid Class R Monthly Interest Shortfall as of the preceding Distribution Date. On the following Distribution Date, the Trustee shall withdraw the lesser of (x) the amounts described in the first sentence of this Section 3.3(j3.3(i) and (y) the excess of the Series 20102015-6 3 Available Reserve Account Amount (after giving effect to any withdrawals from the Series 20102015-6 3 Reserve Account pursuant to Section 3.3(b), 3.3(i3.3(h), 3.5(c)(i) and/or 3.5(d)(i) with respect to such Distribution Date) over the Series 20102015-6 3 Required Reserve Account Amount on such Distribution Date, from the Series 20102015-6 3 Reserve Account and deposit such amount in the Series 20102015-6 3 Distribution Account.

Appears in 2 contracts

Samples: Second Amended and Restated Series 2015 3 Supplement (Avis Budget Group, Inc.), Amended and Restated Series 2015 3 Supplement (Avis Budget Group, Inc.)

AutoNDA by SimpleDocs

Class R Monthly Interest. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 3.4 from the Series 20102022-6 2 Reserve Account in respect of (x) first, an amount equal to the aggregate Class R Monthly Interest for the Series 20102022-6 2 Interest Period ending on the day preceding the related Distribution Date and (y) second, the amount of any unpaid Class R Monthly Interest Shortfall as of the preceding Distribution Date. On the following Distribution Date, the Trustee shall withdraw the lesser of (x) the amounts described in the first sentence of this Section 3.3(j3.3(i) and (y) the excess of the Series 20102022-6 2 Available Reserve Account Amount (after giving effect to any withdrawals from the Series 20102022-6 2 Reserve Account pursuant to Section 3.3(b), 3.3(i), 3.5(c)(i) and/or 3.5(d)(i) with respect to such Distribution Date) over the Series 20102022-6 2 Required Reserve Account Amount on such Distribution Date, from the Series 20102022-6 2 Reserve Account and deposit such amount in the Series 20102022-6 2 Distribution Account.

Appears in 1 contract

Samples: Series 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!