Rental Car Asset Backed Notes Sample Clauses
The "Rental Car Asset Backed Notes" clause defines the terms and conditions under which notes are issued and secured by the cash flows from a pool of rental car assets, such as vehicle leases or rental payments. This clause typically outlines the structure of the securitization, the rights of noteholders, and the obligations of the issuer, including how proceeds from the rental car assets are collected and distributed to investors. By establishing these parameters, the clause provides a clear framework for the allocation of payments and risk, ensuring that investors understand how their returns are generated and protected from defaults or losses in the underlying rental car portfolio.
Rental Car Asset Backed Notes. Pursuant to this Supplement the Series 2004-1 Notes will be divided into two classes: one of which shall be designated as the Floating Rate Series 2004-1 Rental Car Asset Backed Notes, Class A-1 and one of which shall be designated as the Floating Rate Series 2004-1 Rental Car Asset Backed Notes, Class A-2. The proceeds from the increase of the Series 2004-1 Notes shall be deposited in the Collection Account and shall be paid to CRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers have requested Loans thereunder and Eligible Vehicles are available for acquisition or refinancing thereunder on the date hereof. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 2004-1 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.
Rental Car Asset Backed Notes. On the Series 2016-1 Closing Date, four classes of Series 2016-1 Rental Car Asset Backed Notes shall be issued: the first of which shall be designated as the Series 2016-1 2.32% Rental Car Asset Backed Notes, Class A, and referred to herein as the “Class A Notes”, the second of which shall be designated as the Series 2016-1 3.72% Rental Car Asset Backed Notes, Class B, and referred to herein as the “Class B Notes”, the third of which shall be designated as the Series 2016-1 4.75% Rental Car Asset Backed Notes, Class C, and referred to herein as the “Class C Notes”, and the fourth of which shall be designated as the Series 2016-1 5.73% Rental Car Asset Backed Notes, Class D, and referred to herein as the “Class D Notes”. Subsequent to the Series 2016-1 Closing Date, HVF II may on any date during the Series 2016-1 Revolving Period offer and sell additional Series 2016-1 Notes in a single class, subject to satisfaction of the conditions set forth in Section 9.18 of this Series 2016-1 Supplement, which, if issued, shall be designated as the Series 2016-1 Fixed Rate Rental Car Asset Backed Notes, Class E, and referred to herein as the “Class E Notes”.
Rental Car Asset Backed Notes. On the Series 2010-1 Closing Date, six classes of Series 2010-1 Notes shall be issued: the first of which shall be designated as the Series 2010-1 2.60% Rental Car Asset Backed Notes, Class A-1, and referred to herein as the Class A-1 Notes, the second of which shall be designated as the Series 2010-1 3.74% Rental Car Asset Backed Notes, Class A-2, and referred to herein as the Class A-2 Notes, the third of which shall be designated as the Series 2010-1 4.73% Rental Car Asset Backed Notes, Class A-3, and referred to herein as the Class A-3 Notes, the fourth of which shall be designated as the Series 2010-1 5.02% Rental Car Asset Backed Notes, Class B-1, and referred to herein as the Class B-1 Notes, the fifth of which shall be designated as the Series 2010-1 5.70% Rental Car Asset Backed Notes, Class B-2, and referred to herein as the Class B-2 Notes and the sixth of which shall be designated as the Series 2010-1 6.44% Rental Car Asset Backed Notes, Class B-3, and referred to herein as the Class B-3 Notes. The Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes are referred to herein collectively as the Class A Notes. The Class B-1 Notes, the Class B-2 Notes and the Class B-3 Notes are referred to herein collectively as the Class B Notes. The Class A Notes together with the Class B Notes are referred to herein collectively as the Series 2010-1 Notes. The Series 2010-1 Notes shall be issued in minimum denominations of $100,000 and integral multiples of $1,000 in excess thereof. The net proceeds from the sale of the Series 2010-1 Notes shall be deposited in the Series 2010-1 Excess Collection Account on the Series 2010-1 Closing Date and applied in accordance with this Series Supplement.
Rental Car Asset Backed Notes. On the Series 2022-1 Closing Date, the following classes of Series 2022-1 Rental Car Asset Backed Notes were issued: