Common use of Reserve Account Withdrawal Clause in Contracts

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 2004-4 Distribution Account of the amount to be deposited in accordance with Section 3.5(a), together with any amounts to be deposited therein in accordance with Section 3.5(c) on the Series 2004-4 Termination Date, the amount to be deposited in the Series 2004-4 Distribution Account with respect to the Series 2004-4 Termination Date is or will be less than the Series 2004-4 Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to the Series 2004-4 Termination Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2004-4 Reserve Account, an amount equal to the lesser of the Series 2004-4 Available Reserve Account Amount and such insufficiency and deposit it in the Series 2004-4 Distribution Account on the Series 2004-4 Termination Date.

Appears in 2 contracts

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

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Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 2004-4 1 Distribution Account of the amount to be deposited in accordance with Section 3.5(a), together with any amounts to be deposited therein in accordance with Section 3.5(c) on the Series 2004-4 1 Termination Date, the amount to be deposited in the Series 2004-4 1 Distribution Account with respect to the Series 2004-4 1 Termination Date is or will be less than the Series 2004-4 1 Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to the Series 2004-4 1 Termination Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2004-4 1 Reserve Account, an amount equal to the lesser of the Series 2004-4 1 Available Reserve Account Amount and such insufficiency and deposit it in the Series 2004-4 1 Distribution Account on the Series 2004-4 1 Termination 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. If, after giving effect to the deposit into the Series 20042024-4 2 Distribution Account of the amount to be deposited in accordance with Section 3.5(a2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), together with any amounts to be deposited therein in accordance with Section 3.5(c) on the Series 2004-4 Termination Date, the amount to be deposited in the Series 20042024-4 2 Distribution Account with respect to the Series 20042024-4 Termination 2 Final Distribution Date is or will be less than the Series 20042024-4 2 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to the such Series 20042024-4 Termination 2 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20042024-4 2 Reserve Account, an amount equal to the lesser of the Series 20042024-4 2 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20042024-4 2 Distribution Account on the such Series 20042024-4 Termination 2 Final Distribution Date.

Appears in 1 contract

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

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20042010-4 Distribution Account of the amount to be deposited in accordance with Section 3.5(a2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), together with any amounts to be deposited therein in accordance with Section 3.5(c) on the Series 2004-4 Termination Date, the amount to be deposited in the Series 20042010-4 Distribution Account with respect to the Series 20042010-4 Termination Final Distribution Date is or will be less than the Series 20042010-4 Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to the such Series 20042010-4 Termination Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw with­draw from the Series 20042010-4 Reserve Account, an amount equal to the lesser of the Series 20042010-4 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20042010-4 Distribution Account on the such Series 20042010-4 Termination Final Distribution Date.

Appears in 1 contract

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

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20042005-4 3 Distribution Account of the amount to be deposited in accordance with Section 3.5(a), together with any amounts to be deposited therein in accordance with Section 3.5(c) on the Series 20042005-4 3 Termination Date, the amount to be deposited in the Series 20042005-4 3 Distribution Account with respect to the Series 20042005-4 3 Termination Date is or will be less than the Series 20042005-4 3 Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to the Series 20042005-4 3 Termination Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20042005-4 3 Reserve Account, an amount equal to the lesser of the Series 20042005-4 3 Available Reserve Account Amount and such insufficiency and deposit it in the Series 20042005-4 3 Distribution Account on the Series 20042005-4 3 Termination Date.

Appears in 1 contract

Samples: Series Supplement (Cendant Corp)

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20042024-4 1 Distribution Account of the amount to be deposited in accordance with Section 3.5(a2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), together with any amounts to be deposited therein in accordance with Section 3.5(c) on the Series 2004-4 Termination Date, the amount to be deposited in the Series 20042024-4 1 Distribution Account with respect to the Series 20042024-4 Termination 1 Final Distribution Date is or will be less than the Series 20042024-4 1 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to the such Series 20042024-4 Termination 1 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20042024-4 1 Reserve Account, an amount equal to the lesser of the Series 20042024-4 1 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20042024-4 1 Distribution Account on the such Series 20042024-4 Termination 1 Final Distribution Date.

Appears in 1 contract

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

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Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20042024-4 3 Distribution Account of the amount to be deposited in accordance with Section 3.5(a2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), together with any amounts to be deposited therein in accordance with Section 3.5(c) on the Series 2004-4 Termination Date, the amount to be deposited in the Series 20042024-4 3 Distribution Account with respect to the Series 20042024-4 Termination 3 Final Distribution Date is or will be less than the Series 20042024-4 3 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to the such Series 20042024-4 Termination 3 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20042024-4 3 Reserve Account, an amount equal to the lesser of the Series 20042024-4 3 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20042024-4 3 Distribution Account on the such Series 20042024-4 Termination 3 Final Distribution Date.

Appears in 1 contract

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

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20042023-4 Distribution Account of the amount to be deposited in accordance with Section 3.5(a2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), together with any amounts to be deposited therein in accordance with Section 3.5(c) on the Series 2004-4 Termination Date, the amount to be deposited in the Series 20042023-4 Distribution Account with respect to the Series 20042023-4 Termination Final Distribution Date is or will be less than the Series 20042023-4 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to the such Series 20042023-4 Termination Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20042023-4 Reserve Account, an amount equal to the lesser of the Series 20042023-4 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20042023-4 Distribution Account on the such Series 20042023-4 Termination Final Distribution Date.

Appears in 1 contract

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

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20042023-4 3 Distribution Account of the amount to be deposited in accordance with Section 3.5(a2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), together with any amounts to be deposited therein in accordance with Section 3.5(c) on the Series 2004-4 Termination Date, the amount to be deposited in the Series 20042023-4 3 Distribution Account with respect to the Series 20042023-4 Termination 3 Final Distribution Date is or will be less than the Series 20042023-4 3 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to the such Series 20042023-4 Termination 3 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20042023-4 3 Reserve Account, an amount equal to the lesser of the Series 20042023-4 3 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20042023-4 3 Distribution Account on the such Series 20042023-4 Termination 3 Final Distribution Date.

Appears in 1 contract

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

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