PHH Corporation [to come] Attn: Fax No: Re: Chase Reference No.[] Ladies and Gentlemen: The purpose of this letter agreement is to set forth the terms and conditions of the rate cap transaction entered into between The Chase Manhattan Bank ("Chase")...Greyhound Funding LLC • July 10th, 2001 • Services-business services, nec • New York
OF PHH CORPORATIONGreyhound Funding LLC • July 10th, 2001 • Services-business services, nec
PHH CORPORATION, a Delaware corporation, hereby agrees to unconditionally and irrevocably guarantee to Raven Funding LLC, a Delaware limited liability company (the "SPV"), and to each assignee and pledgee of the SPV, and Wilmington Trust Company, a Delaware trust company, not in its individual capacity but solely as the SUBI Trustee (the "SUBI Trustee" and together with the SPV and each assignee and pledgee of the SPV, the "Payees") the due and punctual payment and performance of all obligations of PHH Vehicle Management Services LLC ("VMS") pursuant to the Sold SUBI Supplement 1999-1 to Servicing Agreement, dated as of June 30, 1999, as amended by Amendment No. 1 to the Sold SUBI Supplement 1999-1, dated as of October 28, 1999, among D.L. Peterson Trust, the SUBI Trustee, the SPV and VMS (as may be further amended, modified or supplemented from time to time, the "Servicing Supplement").
GUARANTEE OFGreyhound Funding LLC • July 10th, 2001 • Services-business services, nec
AVIS RENT A CAR, INC., a Delaware corporation (the "Guarantor"), hereby agrees to unconditionally and irrevocably guarantee to Raven Funding LLC, a Delaware limited liability company ("SPV"), and to each assignee and pledgee of the SPV, and Wilmington Trust Company, a Delaware trust company, not in its individual capacity but solely as the SUBI Trustee (the "SUBI Trustee" and together with the SPV and each assignee and pledgee of the SPV, the "Payees") the due and punctual payment and performance of all obligations of PHH Vehicle Management Services LLC ("VMS") pursuant to the Sold SUBI Supplement 1999-1 to Servicing Agreement (the "Servicing Supplement"), dated as of June 30, 1999, among the SUBI Trustee, SPV and VMS, as such Servicing Supplement may be amended and supplemented from time to time.
