Common use of Initial Purchases Clause in Contracts

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Initial Invested Amount on any Business Day during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Note in an amount equal to its Class A Commitment Percentage of the Class A Initial Invested Amount on the Series 2015-3 Closing Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Date its APA Bank Percentage of that portion of such Class A Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Note on the A&R Effective Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement and (C) the APA Banks shall maintain their respective APA Bank Percentages of the Class A Note with respect to its Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to such Purchaser Group, in accordance with the provisions of this Supplement. Each Purchaser Group as of the A&R Effective Date shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) on such date by exchanging the Series 2015-3 Note held by it and outstanding on the day immediately preceding the A&R Effective Date for a Class A Note issued on the A&R Effective Date in accordance with Section 2.1(a)(iv).

Appears in 2 contracts

Samples: Avis Budget Group, Inc., Avis Budget Group, Inc.

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Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Series 2004-4 Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Series 2004-4 Initial Invested Amount on any Business Day during the period from the A&R Effective Date (the “Series 2004-4 Closing Date”) to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Series 2004-4 Note in an amount equal to its Class A Commitment Percentage of the Class A Series 2004-4 Initial Invested Amount on the Series 20152004-3 4 Closing Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Series 2004-4 Closing Date its APA Bank Percentage of that portion of such Class A Series 2004-4 Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Series 2004-4 Note on the A&R Effective Series 2004-4 Closing Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Series 2004-4 Note, subject to increase or decrease during the period from the A&R Effective Series 2004-4 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, in accordance with the provisions of this Supplement and (CB) the APA Banks with respect to such CP Conduit Purchaser shall maintain their respective APA Bank Percentages of the Class A Series 2004-4 Note with respect to its Related such Purchaser Group, subject to increase or decrease during the period from the A&R Effective Series 2004-4 Closing Date to and including the applicable Expiry Date with respect to such Purchaser GroupCP Conduit Purchaser, in accordance with the provisions of this Supplement. Each Payments by each CP Conduit Purchaser Group as of and/or the A&R Effective Date APA Banks with respect to such CP Conduit Purchaser shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) made in immediately available funds on such date by exchanging the Series 20152004-3 Note held by it and outstanding on 4 Closing Date to the day immediately preceding Funding Agent with respect to such CP Conduit Purchaser for remittance to the A&R Effective Date Trustee for a Class A Note issued on deposit into the A&R Effective Date in accordance with Section 2.1(a)(iv)Series 2004-4 Collection Account.

Appears in 2 contracts

Samples: Cendant Corp, Cendant Corp

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Series 2002-4 Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Series 2002-4 Initial Invested Amount on any Business Day during the period from the A&R Effective Date (the "SERIES 2002-4 CLOSING DATE") to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Series 2002-4 Note in an amount equal to its Class A Commitment Percentage of the Class A Series 2002-4 Initial Invested Amount on the Series 20152002-3 4 Closing Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Series 2002-4 Closing Date its APA Bank Percentage of that portion of such Class A Series 2002-4 Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Series 2002-4 Note on the A&R Effective Series 2002-4 Closing Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Series 2002-4 Note, subject to increase or decrease during the period from the A&R Effective Series 2002-4 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, in accordance with the provisions of this Supplement and (CB) the APA Banks with respect to such CP Conduit Purchaser shall maintain their respective APA Bank Percentages of the Class A Series 2002-4 Note with respect to its Related such Purchaser Group, subject to increase or decrease during the period from the A&R Effective Series 2002-4 Closing Date to and including the applicable Expiry Date with respect to such Purchaser GroupCP Conduit Purchaser, in accordance with the provisions of this Supplement. Each Payments by each CP Conduit Purchaser Group as of and/or the A&R Effective Date APA Banks with respect to such CP Conduit Purchaser shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) made in immediately available funds on such date by exchanging the Series 20152002-3 Note held by it and outstanding on 4 Closing Date to the day immediately preceding Funding Agent with respect to such CP Conduit Purchaser for remittance to the A&R Effective Date Trustee for a Class A Note issued on deposit into the A&R Effective Date in accordance with Section 2.1(a)(iv)Series 2002-4 Collection Account.

Appears in 1 contract

Samples: Operating Lease Loan Agreement (Avis Group Holdings Inc)

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance accor-dance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Series 2005-3 Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Series 2005-3 Initial Invested Amount on any Business Day during the period from the A&R Effective Date (the “Series 2005-3 Closing Date”) to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Series 2005-3 Note in an amount equal to its Class A Commitment Commit-ment Percentage of the Class A Series 2005-3 Initial Invested Amount on the Series 20152005-3 Closing Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Series 2005-3 Closing Date its APA Bank Percentage of that portion of such Class A Series 2005-3 Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Series 2005-3 Note on the A&R Effective Series 2005-3 Closing Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Series 2005-3 Note, subject to increase or decrease during the period from the A&R Effective Series 2005-3 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, in accordance with the provisions of this Supplement and (CB) the APA Banks with respect to such CP Conduit Purchaser shall maintain their respective APA Bank Percentages of the Class A Series 2005-3 Note with respect to its Related such Purchaser Group, subject to increase or decrease during the period from the A&R Effective Series 2005-3 Closing Date to and including the applicable Expiry Date with respect to such Purchaser GroupCP Conduit Purchaser, in accordance with the provisions of this Supplement. Each Payments by each CP Conduit Purchaser Group as of and/or the A&R Effective Date APA Banks with respect to such CP Conduit Purchaser shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) made in immediately available funds on such date by exchanging the Series 20152005-3 Note held by it and outstanding on Closing Date to the day immediately preceding Funding Agent with respect to such CP Conduit Purchaser for remittance to the A&R Effective Date Trustee for a Class A Note issued on deposit into the A&R Effective Date in accordance with Section 2.1(a)(iv)Series 2005-3 Collection Account.

Appears in 1 contract

Samples: Master Agreement (Cendant Corp)

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Series 2010-6 Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Series 2010-6 Initial Invested Amount on any Business Day during the period from the A&R Effective Date (the “Series 2010-6 Closing Date”) to and including the applicable Expiry Date with respect to its Related Purchaser Group, and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Series 2010-6 Note in an amount equal to its Class A Commitment Percentage of the Class A Series 2010-6 Initial Invested Amount on the Series 20152010-3 6 Closing Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Series 2010-6 Closing Date its APA Bank Percentage of that portion of such Class A Series 2010-6 Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Series 2010-6 Note, subject to increase or decrease during the period from the A&R Effective Series 2010-6 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Series 2010-6 Note on the A&R Effective Series 2010-6 Closing Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Series 2010-6 Note, subject to increase or decrease during the period from the A&R Effective Series 2010-6 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement and (C) the APA Banks shall maintain their respective APA Bank Percentages of the Class A Series 2010-6 Note with respect to its Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Series 2010-6 Closing Date to and including the applicable Expiry Date with respect to such Purchaser Group, in accordance with the provisions of this Supplement. Each Purchaser Group as of Payments by the A&R Effective Date Non-Conduit Purchasers, the CP Conduit Purchasers and/or the APA Banks with respect to the CP Conduit Purchasers shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) made in immediately available funds on such date by exchanging the Series 20152010-3 Note held by it and outstanding on the day immediately preceding the A&R Effective Date for a Class A Note issued on the A&R Effective 6 Closing Date in accordance with Section 2.1(a)(iv2.3(d).

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Initial Invested Amount on any Business Day during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Note in an amount equal to its Class A Commitment Percentage of the Class A Initial Invested Amount on the Series 2015-3 Closing Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Date its APA Bank Percentage of that portion of such Class A Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Note on the A&R Effective Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement and (C) the APA Banks shall maintain their respective APA Bank Percentages of the Class A Note with respect to its Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to such Purchaser Group, in accordance with the provisions of this Supplement. Each Purchaser Group as of the A&R Effective Date shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) on such date by exchanging the Series 2015-3 Note held by it and outstanding on the day immediately preceding the A&R Effective Date for a Class A Note issued on the A&R Effective Date in accordance with Section 2.1(a)(iv2.1(a)(iii).

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Initial Invested Amount on any Business Day during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Note in an amount equal to its Class A Commitment Percentage of the Class A Initial Invested Amount on the Series 2015-3 Closing A&R Effective Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Date its APA Bank Percentage of that portion of such Class A Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Note on the A&R Effective Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement and (C) the APA Banks shall maintain their respective APA Bank Percentages of the Class A Note with respect to its Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Series 2015-3 Closing Date to and including the applicable Expiry Date with respect to such Purchaser Group, in accordance with the provisions of this Supplement. Each Purchaser Group as of the A&R Effective Date shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) on such date by exchanging the Series 2015-3 Note held by it and outstanding on the day immediately preceding the A&R Effective Date for a Class A Note issued on the A&R Effective Date in accordance with Section 2.1(a)(iv2.1(a)(iii).

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Series 2009-3 Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Series 2009-3 Initial Invested Amount on any Business Day during the period from the A&R Effective Date (the “Series 2009-3 Closing Date”) to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Series 2009-3 Note in an amount equal to its Class A Commitment Percentage of the Class A Series 2009-3 Initial Invested Amount on the Series 20152009-3 Closing Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Series 2009-3 Closing Date its APA Bank Percentage of that portion of such Class A Series 2009-3 Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Series 2009-3 Note on the A&R Effective Series 2009-3 Closing Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Series 2009-3 Note, subject to increase or decrease during the period from the A&R Effective Series 2009-3 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, in accordance with the provisions of this Supplement and (CB) the APA Banks with respect to such CP Conduit Purchaser shall maintain their respective APA Bank Percentages of the Class A Series 2009-3 Note with respect to its Related such Purchaser Group, subject to increase or decrease during the period from the A&R Effective Series 2009-3 Closing Date to and including the applicable Expiry Date with respect to such Purchaser GroupCP Conduit Purchaser, in accordance with the provisions of this Supplement. Each Payments by each CP Conduit Purchaser Group as of and/or the A&R Effective Date APA Banks with respect to such CP Conduit Purchaser shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) made in immediately available funds on such date by exchanging the Series 20152009-3 Note held by it and outstanding on Closing Date to the day immediately preceding Funding Agent with respect to such CP Conduit Purchaser for remittance to the A&R Effective Date Trustee for a Class A Note issued on deposit into the A&R Effective Date in accordance with Section 2.1(a)(iv)Series 2009-3 Collection Account.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Initial Invested Amount on any Business Day during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, and if any each such CP Conduit Purchaser in a Related Purchaser Group shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser Group that it has elected not to fund a Class A Note in an amount equal to its Class A Commitment Percentage of the Class A Initial Invested Amount on the Series 20152010-3 6 Closing Date, each APA Bank with respect to such CP Conduit Purchaser Purchasers shall fund on the A&R Effective Date its APA Bank Percentage of that portion of such Class A Note not to be funded by such CP Conduit Purchaser Purchasers and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Note on the A&R Effective Date, such each CP Conduit Purchaser may, in its sole discretion, maintain its all or any portion of the Class A NoteNote with respect to the Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement and (C) the APA Banks shall maintain their respective APA Bank Percentages of the Class A Note with respect to its Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to such Purchaser Group, in accordance with the provisions of this Supplement. Each Purchaser Group as of the A&R Effective Date shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) on such date by exchanging the Series 20152010-3 6 Note held by it and outstanding on the day immediately preceding the A&R Effective Date for a Class A Note issued on the A&R Effective Date in accordance with Section 2.1(a)(iv2.1(a)(iii).

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Series 2002-2 Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Series 2002-2 Initial Invested Amount on any Business Day during the period from the A&R Effective Date (the "SERIES 2002-2 CLOSING DATE") to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Series 2002-2 Note in an amount equal to its Class A Commitment Percentage of the Class A Series 2002-2 Initial Invested Amount on the Series 20152002-3 2 Closing Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Series 2002-2 Closing Date its APA Bank Percentage of that portion of such Class A Series 2002-2 Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Series 2002-2 Note on the A&R Effective Series 2002-2 Closing Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Series 2002-2 Note, subject to increase or decrease during the period from the A&R Effective Series 2002-2 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, in accordance with the provisions of this Supplement and (CB) the APA Banks with respect to such CP Conduit Purchaser shall maintain their respective APA Bank Percentages of the Class A Series 2002-2 Note with respect to its Related such Purchaser Group, subject to increase or decrease during the period from the A&R Effective Series 2002-2 Closing Date to and including the applicable Expiry Date with respect to such Purchaser GroupCP Conduit Purchaser, in accordance with the provisions of this Supplement. Each Payments by each CP Conduit Purchaser Group as of and/or the A&R Effective Date APA Banks with respect to such CP Conduit Purchaser shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) made in immediately available funds on such date by exchanging the Series 20152002-3 Note held by it and outstanding on 2 Closing Date to the day immediately preceding Funding Agent with respect to such CP Conduit Purchaser for remittance to the A&R Effective Date Trustee for a Class A Note issued on deposit into the A&R Effective Date in accordance with Section 2.1(a)(iv)Series 2002-2 Collection Account.

Appears in 1 contract

Samples: Operating Lease Loan Agreement (Avis Group Holdings Inc)

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Initial Invested Amount on any Business Day during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Note in an amount equal to its Class A Commitment Percentage of the Class A Initial Invested Amount on the Series 20152010-3 6 Closing Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Date its APA Bank Percentage of that portion of such Class A Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Note on the A&R Effective Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement and (C) the APA Banks shall maintain their respective APA Bank Percentages of the Class A Note with respect to its Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to such Purchaser Group, in accordance with the provisions of this Supplement. Each Purchaser Group as of the A&R Effective Date shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) on such date by exchanging the Series 20152010-3 6 Note held by it and outstanding on the day immediately preceding the A&R Effective Date for a Class A Note issued on the A&R Effective Date in accordance with Section 2.1(a)(iv2.1(a)(iii).

Appears in 1 contract

Samples: Avis Budget Group, Inc.

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Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Initial Invested Amount on any Business Day during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, and if any each such CP Conduit Purchaser in a Related Purchaser Group shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser Group that it has elected not to fund a Class A Note in an amount equal to its Class A Commitment Percentage of the Class A Initial Invested Amount on the Series 20152010-3 6 Closing Date, each APA Bank with respect to such CP Conduit Purchaser Purchasers shall fund on the A&R Effective Date its APA Bank Percentage of that portion of such Class A Note not to be funded by such CP Conduit Purchaser Purchasers and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Note on the A&R Effective Date, such each CP Conduit Purchaser may, in its sole discretion, maintain its all or any portion of the Class A NoteNote with respect to the Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement and (C) the APA Banks shall maintain their respective APA Bank Percentages of the Class A Note with respect to its Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to such Purchaser Group, in accordance with the provisions of this Supplement. Each Purchaser Group as of the A&R Effective Date shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) on such date by exchanging the Series 20152010-3 6 Note held by it and outstanding on the day immediately preceding the A&R Effective Date for a Class A Note issued on the A&R Effective Date in accordance with Section 2.1(a)(iv).

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Series 2002-2 Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Series 2002-2 Initial Invested Amount on any Business Day during the period from the A&R Effective Date (the "SERIES 2002-2 CLOSING DATE") to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Series 2002-2 Note in an amount equal to its Class A Commitment Percentage of the Class A Series 2002-2 Initial Invested Amount on the Series 20152002-3 2 Closing Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Series 2002-2 Closing Date its APA Bank Percentage of that portion of such Class A Series 2002-2 Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Series 2002-2 Note on the A&R Effective Series 2002-2 Closing Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Series 2002-2 Note, subject to increase or decrease during the period from the A&R Effective Series 2002-2 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, in accordance with the provisions of this Supplement and (CB) the APA Banks with respect to such CP Conduit Purchaser shall maintain their respective APA Bank Percentages of -27- the Class A Series 2002-2 Note with respect to its Related such Purchaser Group, subject to increase or decrease during the period from the A&R Effective Series 2002-2 Closing Date to and including the applicable Expiry Date with respect to such Purchaser GroupCP Conduit Purchaser, in accordance with the provisions of this Supplement. Each Payments by each CP Conduit Purchaser Group as of and/or the A&R Effective Date APA Banks with respect to such CP Conduit Purchaser shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) made in immediately available funds on such date by exchanging the Series 20152002-3 Note held by it and outstanding on 2 Closing Date to the day immediately preceding Funding Agent with respect to such CP Conduit Purchaser for remittance to the A&R Effective Date Trustee for a Class A Note issued on deposit into the A&R Effective Date in accordance with Section 2.1(a)(iv)Series 2002-2 Collection Account.

Appears in 1 contract

Samples: Operating Lease Loan Agreement (Avis Group Holdings Inc)

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Initial Invested Amount on any Business Day during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, and if any each such CP Conduit Purchaser in a Related Purchaser Group shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser Group that it has elected not to fund a Class A Note in an amount equal to its Class A Commitment Percentage of the Class A Initial Invested Amount on the Series 20152010-3 6 Closing Date, each APA Bank with respect to such CP Conduit Purchaser Purchasers shall fund on the A&R Effective Date its APA Bank Percentage of that portion of such Class A Note not to be funded by such CP Conduit Purchaser Purchasers and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Note on the A&R Effective Date, such each CP Conduit Purchaser may, in its sole discretion, maintain its all or any portion of the Class A NoteNote with respect to the Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement and (C) the APA Banks shall maintain their respective APA Bank Percentages of the Class A Note with respect to its Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to such Purchaser Group, in accordance with the provisions of this Supplement. Each Purchaser Group as of the A&R Effective Date shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) on such date by exchanging the Series 20152010-3 6 Note held by it and outstanding on the day immediately preceding the A&R Effective Date for a Class A Note issued on the A&R Effective Date in accordance with Section 2.1(a)(iv).. 57

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Initial Purchases. (i) Subject to the terms and conditions of this Indenture Supplement, including delivery of notice in accordance with Section SECTION 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Series 2001-1 Investor Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Series 2001-1 Initial Invested Amount on any Business Day during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related such CP Conduit Purchaser Group(the "SERIES 2001-1 INITIAL FUNDING DATE"), and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Series 2001-1 Investor Note in an amount equal to its Class A Commitment Percentage of the Class A Series 2001-1 Initial Invested Amount on the Series 20152001-3 Closing 1 Initial Funding Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Series 2001-1 Initial Funding Date its APA Bank Percentage of that portion of such Class A Series 2001-1 Investor Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Series 2001-1 Investor Note on the A&R Effective Series 2001-1 Initial Funding Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Series 2001-1 Investor Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, in accordance with the provisions of this Indenture Supplement and (CB) the APA Banks with respect to such CP Conduit Purchaser shall maintain their respective APA Bank Percentages of the Class A Series 2001-1 Investor Note with respect to its Related Purchaser Groupsuch Purchaser, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to such Purchaser GroupCP Conduit Purchaser, in accordance with the provisions of this Indenture Supplement. Each Payments by each CP Conduit Purchaser Group as of and/or the A&R Effective Date APA Banks with respect to such CP Conduit Purchaser shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) made in immediately available funds on such date by exchanging the Series 20152001-3 Note held by it and outstanding on 1 Initial Funding Date to the day immediately preceding Funding Agent with respect to such CP Conduit Purchaser for remittance to the A&R Effective Date Indenture Trustee for a Class A Note issued on deposit into the A&R Effective Date in accordance with Section 2.1(a)(iv)Series 2001-1 Collection Subaccount.

Appears in 1 contract

Samples: Goodyear Tire & Rubber Co /Oh/

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance accor­dance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Series 2008-1 Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Series 2008-1 Initial Invested Amount on any Business Day during the period from the A&R Effective Date (the “Series 2008-1 Closing Date”) to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Series 2008-1 Note in an amount equal to its Class A Commitment Commit­ment Percentage of the Class A Series 2008-1 Initial Invested Amount on the Series 20152008-3 1 Closing Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Series 2008-1 Closing Date its APA Bank Percentage of that portion of such Class A Series 2008-1 Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Series 2008-1 Note on the A&R Effective Series 2008-1 Closing Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Series 2008-1 Note, subject to increase or decrease during the period from the A&R Effective Series 2008-1 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Groupsuch CP Conduit Purchaser, in accordance with the provisions of this Supplement and (CB) the APA Banks with respect to such CP Conduit Purchaser shall maintain their respective APA Bank Percentages of the Class A Series 2008-1 Note with respect to its Related such Purchaser Group, subject to increase or decrease during the period from the A&R Effective Series 2008-1 Closing Date to and including the applicable Expiry Date with respect to such Purchaser GroupCP Conduit Purchaser, in accordance with the provisions of this Supplement. Each Payments by each CP Conduit Purchaser Group as of and/or the A&R Effective Date APA Banks with respect to such CP Conduit Purchaser shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) made in immediately available funds on such date by exchanging the Series 20152008-3 Note held by it and outstanding on 1 Closing Date to the day immediately preceding Funding Agent with respect to such CP Conduit Purchaser for remittance to the A&R Effective Date Trustee for a Class A Note issued on deposit into the A&R Effective Date in accordance with Section 2.1(a)(iv)Series 2008-1 Collection Account.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Note in an amount equal to all or a portion of its Class A Commitment Percentage of the initial principal amount of the Class A Notes (the “Class A Initial Invested Amount Amount”) on any Business Day during the period from the A&R Effective Series 2022-2 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, and if any each such CP Conduit Purchaser in a Related Purchaser Group shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser Group that it has elected not to fund a Class A Note in an amount equal to its Class A Commitment Percentage of the Class A Initial Invested Amount on the Series 20152022-3 2 Closing Date, each APA Bank with respect to such CP Conduit Purchaser Purchasers shall fund on the A&R Effective Series 2022-2 Closing Date its APA Bank Percentage of that portion of such Class A Note not to be funded by such CP Conduit Purchaser Purchasers and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Note, subject to increase or decrease during the period from the A&R Effective Series 2022-2 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Note on the A&R Effective Date, such each CP Conduit Purchaser may, in its sole discretion, maintain its all or any portion of the Class A NoteNote with respect to the Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Series 2022-2 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement and (C) the APA Banks shall maintain their respective APA Bank Percentages of the Class A Note with respect to its Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Series 2022-2 Closing Date to and including the applicable Expiry Date with respect to such Purchaser Group, in accordance with the provisions of this Supplement. Each Purchaser Group as of Payments by the A&R Effective Date Non-Conduit Purchasers, the CP Conduit Purchasers and/or the APA Banks with respect to the CP Conduit Purchasers shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) made in immediately available funds on such date by exchanging the Series 20152022-3 Note held by it and outstanding on the day immediately preceding the A&R Effective Date for a Class A Note issued on the A&R Effective 2 Closing Date in accordance with Section 2.1(a)(iv2.3(d).

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Initial Purchases. (i) Subject to the terms and conditions of this Supplement, including delivery of notice in accordance with Section 2.3, (i) each Non-Conduit Purchaser shall purchase, and each CP Conduit Purchaser may, in its sole discretion, purchase a Class A Series 2015-3 Note in an amount equal to all or a portion of its Class A Commitment Percentage of the Class A Series 2015-3 Initial Invested Amount on any Business Day during the period from the A&R Effective Date (the “Series 2015-3 Closing Date”) to and including the applicable Expiry Date with respect to its Related Purchaser Group, and if any such CP Conduit Purchaser shall have notified the Administrative Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Class A Series 2015-3 Note in an amount equal to its Class A Commitment Percentage of the Class A Series 2015-3 Initial Invested Amount on the Series 2015-3 Closing Date, each APA Bank with respect to such CP Conduit Purchaser shall fund on the A&R Effective Series 2015-3 Closing Date its APA Bank Percentage of that portion of such Class A Series 2015-3 Note not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) each Non-Conduit Purchaser shall maintain its Class A Series 2015-3 Note, subject to increase or decrease during the period from the A&R Effective Series 2015-3 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement, (B) if a CP Conduit Purchaser shall have purchased a Class A Series 2015-3 Note on the A&R Effective Series 2015-3 Closing Date, such CP Conduit Purchaser may, in its sole discretion, maintain its Class A Series 2015-3 Note, subject to increase or decrease during the period from the A&R Effective Series 2015-3 Closing Date to and including the applicable Expiry Date with respect to its Related Purchaser Group, in accordance with the provisions of this Supplement and (C) the APA Banks shall maintain their respective APA Bank Percentages of the Class A Series 2015-3 Note with respect to its Related Purchaser Group, subject to increase or decrease during the period from the A&R Effective Series 2015-3 Closing Date to and including the applicable Expiry Date with respect to such Purchaser Group, in accordance with the provisions of this Supplement. Each Purchaser Group as of Payments by the A&R Effective Date Non-Conduit Purchasers, the CP Conduit Purchasers and/or the APA Banks with respect to the CP Conduit Purchasers shall be deemed to have satisfied its obligation to purchase a Class A Note under this Section 2.1(a) made in immediately available funds on such date by exchanging the Series 2015-3 Note held by it and outstanding on the day immediately preceding the A&R Effective Date for a Class A Note issued on the A&R Effective Closing Date in accordance with Section 2.1(a)(iv2.3(d).

Appears in 1 contract

Samples: Avis Budget Group, Inc.

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