Common use of Deficiencies in Payments Clause in Contracts

Deficiencies in Payments. Notwithstanding anything in this Supplement or the Base Indenture to the contrary, and notwithstanding the prior distribution to the Series 2002-1 Noteholders of the Invested Amount, any deficiency in payment to the Series 2002-1 Noteholders of the full principal amount of the Series 2002-1 Notes and any accrued and unpaid interest thereon (i) shall remain due and shall be payable on each Payment Date to the Series 2002-1 Noteholders to the extent of the sufficiency of recoveries, proceeds, or other assets of RCFC allocable at any time to the Series 2002-1 Notes, and (ii) any deficiency in such full principal amount and accrued unpaid interest thereon shall be paid before any distribution in any period of any amounts in respect of the Retained Interest.

Appears in 1 contract

Samples: Series Supplement (Dollar Thrifty Automotive Group Inc)

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Deficiencies in Payments. Notwithstanding anything in this Supplement or the Base Indenture to the contrary, and notwithstanding the prior distribution to the Series 20022001-1 Noteholders of the Invested Amount, any deficiency in payment to the Series 20022001-1 Noteholders of the full principal amount of the Series 20022001-1 Notes and any accrued and unpaid interest thereon (i) shall remain due and shall be payable on each Payment Date to the Series 20022001-1 Noteholders to the extent of the sufficiency of recoveries, proceeds, or other assets of RCFC the Issuer allocable at any time to the Series 20022001-1 Notes, and (ii) any deficiency in such full principal amount and accrued unpaid interest thereon shall be paid before any distribution in any period of any amounts in respect of the Retained Interest.

Appears in 1 contract

Samples: Rental Car Asset Backed Notes (Dollar Thrifty Automotive Group Inc)

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