Common use of Payment of Availability Payment Clause in Contracts

Payment of Availability Payment. On each Due Date, each Lessee shall pay to the Lessor its allocable share (as determined by the Master Servicer) of the Availability Payment in respect of the unutilized portion of the Maximum Lease Commitment. “Availability Payment” with respect to each Due Date shall equal the excess, if any, of (I) the sum of (without double counting) (a) the aggregate interest due on all Outstanding Notes included in the Group VII Series of Notes as of the Payment Date next succeeding such Due Date, plus (b) all other payments payable by RCFC during the Related Month under the Group VII Series Supplements and the other Related Documents with respect to the Group VII Series of Notes (other than principal on Group VII Series of Notes), over (II) the sum of (a) any Monthly Variable Rent due on such Due Date plus (b) any Monthly Finance Rent due on such Due Date, plus (c) any earnings on Permitted Investments allocated to any Group VII Series of Notes (less any portion thereof allocated to the Retained Interestholder) accruing through the Determination Date occurring prior to such Due Date and not included in the calculation of Availability Payments with respect to any prior Due Date.

Appears in 2 contracts

Samples: And Servicing Agreement (Dollar Thrifty Automotive Group Inc), And Servicing Agreement (Dollar Thrifty Automotive Group Inc)

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Payment of Availability Payment. On each Due Date, each Lessee shall pay to the Lessor its allocable share (as determined by the Master Servicer) of the Availability Payment in respect of the unutilized portion of the Maximum Lease Commitment. “Availability Payment” with respect to each Due Date shall equal the excess, if any, of (I) the sum of (without double counting) (a) the aggregate interest due on all Outstanding Notes included in the Group VII III Series of Notes as of the Payment Date next succeeding such Due Date, plus (b) all other payments amounts payable by RCFC during the Related Month under the Group VII III Series Supplements and the other Related Documents with respect to the a Group VII III Series of Notes (other than principal on a Group VII III Series of Notes), over (II) the sum of (a) any Monthly Variable Rent due on such Due Date plus (b) any Monthly Finance Rent due on such Due Date, plus (c) any earnings on Permitted Investments allocated to any Group VII III Series of Notes (less any portion thereof allocated to the Retained Interestholder) accruing through the Determination Date occurring prior to such Due Date and not included in the calculation of Availability Payments with respect to any prior Due Date.

Appears in 1 contract

Samples: Master Motor Vehicle Lease (Dollar Thrifty Automotive Group Inc)

Payment of Availability Payment. On each Due Date, each Lessee shall pay to the Lessor its allocable share (as determined by the Master Servicer) of the Availability Payment in respect of the unutilized portion of the Maximum Lease Commitment. “Availability Payment” with respect to each Due Date shall equal the excess, if any, of (I) the sum of (without double counting) (a) the aggregate interest due on all Outstanding Notes included in the Group VII II Series of Notes as of the Payment Date next succeeding such Due Date, plus (b) all other payments amounts payable by RCFC during the Related Month under the Group VII II Series Supplements and the other Related Documents with respect to the a Group VII II Series of Notes (other than principal on a Group VII II Series of Notes), over (II) the sum of (a) any Monthly Variable Rent due on such Due Date Date, plus (b) any Monthly Finance Rent due on such Due Date, plus (c) any earnings on Permitted Investments allocated to any Group VII II Series of Notes (less any portion thereof allocated to the Retained Interestholder) accruing through the Determination Date occurring prior to such Due Date and not included in the calculation of Availability Payments with respect to any prior Due Date.

Appears in 1 contract

Samples: Master Motor Vehicle Lease (Dollar Thrifty Automotive Group Inc)

Payment of Availability Payment. On each Due Date, each Lessee shall pay to the Lessor its allocable share (as determined by the Master Servicer) of the Availability Payment in respect of the unutilized portion of the Maximum Lease Commitment. “Availability Payment” with respect to each Due Date shall equal the excess, if any, of (I) the sum of (without double counting) (a) the aggregate interest due on all Outstanding Notes included in the Group VII VI Series of Notes as of the Payment Date next succeeding such Due Date, plus (b) all other payments payable by RCFC during the Related Month under the Group VII VI Series Supplements and the other Related Documents with respect to the Group VII VI Series of Notes (other than principal on Group VII VI Series of Notes), over (II) the sum of (a) any Monthly Variable Rent due on such Due Date plus (b) any Monthly Finance Rent due on such Due Date, plus (c) any earnings on Permitted Investments allocated to any Group VII VI Series of Notes (less any portion thereof allocated to the Retained Interestholder) accruing through the Determination Date occurring prior to such Due Date and not included in the calculation of Availability Payments with respect to any prior Due Date.

Appears in 1 contract

Samples: And Servicing Agreement (Dollar Thrifty Automotive Group Inc)

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Payment of Availability Payment. On each Due Date, each Lessee shall pay to the Lessor its allocable share (as determined by the Master Servicer) of the Availability Payment in respect of the unutilized portion of the Maximum Lease Commitment. “Availability Payment” with respect to each Due Date shall equal the excess, if any, of (I) the sum of (without double counting) (a) the aggregate interest due on all Outstanding Notes included in the Group VII V Series of Notes as of the Payment Date next succeeding such Due Date, plus (b) all other payments payable by RCFC during the Related Month under the Group VII V Series Supplements and the other Related Documents with respect to the Group VII V Series of Notes (other than principal on Group VII V Series of Notes), over (II) the sum of (a) any Monthly Variable Rent due on such Due Date plus (b) any Monthly Finance Rent due on such Due Date, plus (c) any earnings on Permitted Investments allocated to any Group VII V Series of Notes (less any portion thereof allocated to the Retained Interestholder) accruing through the Determination Date occurring prior to such Due Date and not included in the calculation of Availability Payments with respect to any prior Due Date.

Appears in 1 contract

Samples: And Servicing Agreement (Dollar Thrifty Automotive Group Inc)

Payment of Availability Payment. On each Due Date, each Lessee shall pay to the Lessor its allocable share (as determined by the Master Servicer) of the Availability Payment in respect of the unutilized portion of the Maximum Lease Commitment. “Availability Payment” with respect to each Due Date shall equal the excess, if any, of (I) the sum of (without double counting) (a) the aggregate interest due on all Outstanding Notes included in the Group VII VIII Series of Notes as of the Payment Date next succeeding such Due Date, plus (b) all other payments payable by RCFC during the Related Month under the Group VII VIII Series Supplements and the other Related Documents with respect to the Group VII VIII Series of Notes (other than principal on Group VII VIII Series of Notes), over (II) the sum of (a) any Monthly Variable Rent due on such Due Date plus (b) any Monthly Finance Rent due on such Due Date, plus (c) any earnings on Permitted Investments allocated to any Group VII VIII Series of Notes (less any portion thereof allocated to the Retained Interestholder) accruing through the Determination Date occurring prior to such Due Date and not included in the calculation of Availability Payments with respect to any prior Due Date.

Appears in 1 contract

Samples: Master Motor Vehicle Lease (Dollar Thrifty Automotive Group Inc)

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