Common use of Reserve Account Withdrawal Clause in Contracts

Reserve Account Withdrawal. The Administrator shall instruct the Trustee in writing, prior to 12:00 noon (New York City time) on such Distribution Date, in the case of a Principal Deficit Amount resulting from a Series 2010-6 Lease Payment Deficit, or prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, in the case of any other Principal Deficit Amount, to withdraw from the Series 2010-6 Reserve Account, an amount equal to the lesser of (x) the Series 2010-6 Available Reserve Account Amount and (y) such Principal Deficit Amount and deposit it in the Series 2010-6 Distribution Account on such Distribution Date.

Appears in 5 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.), Fourth Amended and Restated Series 2010 6 Supplement (Avis Budget Group, Inc.)

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Reserve Account Withdrawal. The Administrator shall instruct the Trustee in writing, prior to 12:00 noon (New York City time) on such Distribution Date, in the case of a Principal Deficit Amount resulting from a Series 20102015-6 3 Lease Payment Deficit, or prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, in the case of any other Principal Deficit Amount, to withdraw from the Series 20102015-6 3 Reserve Account, an amount equal to the lesser of (x) the Series 20102015-6 3 Available Reserve Account Amount and (y) such Principal Deficit Amount and deposit it in the Series 20102015-6 3 Distribution Account on such Distribution Date.

Appears in 5 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.), Second Amended and Restated Series 2015 3 Supplement (Avis Budget Group, Inc.)

Reserve Account Withdrawal. The Administrator shall instruct the Trustee in writing, prior to 12:00 noon (New York City time) on such Distribution Date, in the case of a Principal Deficit Amount resulting from a Series 20102004-6 4 Lease Payment Deficit, or prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, in the case of any other Principal Deficit Amount, to withdraw from the Series 20102004-6 4 Reserve Account, an amount equal to the lesser of (x) the Series 20102004-6 4 Available Reserve Account Amount and (y) such Principal Deficit Amount and deposit it in the Series 20102004-6 4 Distribution Account on such Distribution Date.

Appears in 2 contracts

Samples: Series 2004 4 Supplement (Cendant Corp), Series 2004 4 Supplement (Cendant Corp)

Reserve Account Withdrawal. The Administrator shall instruct the Trustee in writing, prior to 12:00 noon (New York City time) on such Distribution Date, in the case of a Principal Deficit Amount resulting from a Series 20102004-6 1 Lease Payment Deficit, or prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, in the case of any other Principal Deficit Amount, to withdraw from the Series 20102004-6 1 Reserve Account, an amount equal to the lesser of (x) the Series 20102004-6 1 Available Reserve Account Amount and (y) such Principal Deficit Amount and deposit it in the Series 20102004-6 1 Distribution Account on such Distribution Date.

Appears in 2 contracts

Samples: Amended and Restated Series 2004 1 Supplement (Cendant Corp), Second Amended and Restated Series 2004 1 Supplement (Cendant Corp)

Reserve Account Withdrawal. The Administrator shall instruct the Trustee in writing, prior to 12:00 noon (New York City time) on such Distribution Date, in the case of a Principal Deficit Amount resulting from a Series 20102022-6 2 Lease Payment Deficit, or prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, in the case of any other Principal Deficit Amount, to withdraw from the Series 20102022-6 2 Reserve Account, an amount equal to the lesser of (x) the Series 20102022-6 2 Available Reserve Account Amount and (y) such Principal Deficit Amount and deposit it in the Series 20102022-6 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

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Reserve Account Withdrawal. The Administrator shall instruct the Trustee in writing, prior to 12:00 noon (New York City time) on such Distribution Date, in the case of a Principal Deficit Amount resulting from a Series 20102008-6 1 Lease Payment Deficit, or prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, in the case of any other Principal Deficit Amount, to withdraw from the Series 20102008-6 1 Reserve Account, an amount equal to the lesser of (x) the Series 20102008-6 1 Available Reserve Account Amount and (y) such Principal Deficit Amount and deposit it in the Series 20102008-6 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Series 2008 1 Supplement (Avis Budget Group, Inc.)

Reserve Account Withdrawal. The Administrator shall instruct the Trustee in writing, prior to 12:00 noon (New York City time) on such Distribution Date, in the case of a Principal Deficit Amount resulting from a Series 20102009-6 3 Lease Payment Deficit, or prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, in the case of any other Principal Deficit Amount, to withdraw from the Series 20102009-6 3 Reserve Account, an amount equal to the lesser of (x) the Series 20102009-6 3 Available Reserve Account Amount and (y) such Principal Deficit Amount and deposit it in the Series 20102009-6 3 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Series Supplement (Avis Budget Group, Inc.)

Reserve Account Withdrawal. The Administrator shall instruct the Trustee in writing, prior to 12:00 noon (New York City time) on such Distribution Date, in the case of a Principal Deficit Amount resulting from a Series 20102005-6 3 Lease Payment Deficit, or prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, in the case of any other Principal Deficit Amount, to withdraw from the Series 20102005-6 3 Reserve Account, an amount equal to the lesser of (x) the Series 20102005-6 3 Available Reserve Account Amount and (y) such Principal Deficit Amount and deposit it in the Series 20102005-6 3 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Series Supplement (Cendant Corp)

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