BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)), if any, of the amounts available from the Series 2010-6 Accrued Interest Account as follows: (i) on each Distribution Date during the Series 2010-6 Revolving Period or any Series 2010-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 2010-6 Interest Period, (3) third, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and (ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be treated as Principal Collections.
Appears in 2 contracts
Sources: Sixth Amended and Restated Series 2010 6 Supplement (Avis Budget Group, Inc.), Fifth Amended and Restated Series 2010 6 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator Servicer shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)) of this Series Supplement), if any, of the amounts available from Interest Collections allocated to the Series 20101999-6 Accrued Interest Account 1 Noteholder since the preceding Distribution Date (less any portion thereof paid to the Series 1999-1 Noteholder during such period pursuant to Section 3.3(c) below) as follows:
(i) on each Distribution Date during the Series 20101999-6 1 Revolving Period or any Series 2010-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve AccountServicer, in an amount equal to the sum of (x) the aggregate Contingent Series Monthly Funding Costs Servicing Fee with respect to all Purchaser Groups for the Series 20101999-6 Interest Period ended 1 Notes payable by the Issuer pursuant to Section 26.1 of the Lease on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)Date, (2) second, to the AdministratorTrustee, in an amount equal to the Series 20101999-6 1 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 2010-6 Interest Period, (3) third, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such Series 2010-6 Interest Periodcurrent Distribution Date, (43) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifththird, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 20101999-6 1 Percentage as of the beginning of such Series 2010-6 Interest Period immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20101999-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 1 Interest Period ended on the day preceding such Distribution Date and (y4) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventhfourth, the balance, if any (“Excess Collections”)any, shall be withdrawn by the Paying Agent Trustee from the Series 20101999-6 1 Collection Account and deposited in paid to the Series 2010-6 Excess Collection AccountIssuer; and
(ii) on each Distribution Date during the Series 20101999-6 1 Rapid Amortization Period, (1) first, to the Trustee, in an amount equal to the Series 20101999-6 1 Percentage as of the beginning of such Series 2010-6 Interest Period immediately preceding Distribution Date of the Trustee’s fees for the Series 1999-1 Interest Period ending on such Series 2010-6 Interest Periodcurrent Distribution Date, (2) second, to the AdministratorServicer, in an amount equal to the Series 2010Monthly Servicing Fee with respect to the Series 1999-6 Percentage as 1 Notes payable by the Issuer pursuant to Section 26.1 of the beginning of Lease on such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest PeriodDistribution Date, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 20101999-6 1 Percentage as of the beginning of such Series 2010-6 Interest Period immediately preceding Distribution Date of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20101999-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 1 Interest Period ended on the day preceding such Distribution Date and (y4) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixthfourth, the balance, if any, shall be treated as Principal Collectionsapplied to reduce the Series 1999-1 Invested Amount on such current Distribution Date in accordance with Section 3.4 of this Series Supplement.
Appears in 2 contracts
Sources: Fifth Amended and Restated Series 1999 1 Supplement (Vanguard Car Rental Group Inc.), Series Supplement (Vanguard Car Rental Group Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)), if any, of the amounts available from the Series 20102004-6 4 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 20102004-6 4 Revolving Period or any Series 2010-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102004-6 4 Percentage as of the beginning of such Series 20102004-6 4 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102004-6 4 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102004-6 4 Percentage as of the beginning of such Series 20102004-6 4 Interest Period of the Trustee’s fees for such Series 20102004-6 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 4 Interest Period, (3) third, to the Series 20102004-6 4 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102004-6 4 Percentage as of the beginning of such Series 20102004-6 4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102004-6 4 Interest Period, and (5) fifth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2004-4 Collection Account and deposited in the Series 2004-4 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2004-4 Amortization Period, (1) first, to the Series 2010-6 Reserve AccountTrustee, an amount equal to the sum Series 2004-4 Percentage as of the beginning of such Series 2004-4 Interest Period of the Trustee’s fees for such Series 2004-4 Interest Period, (x2) second, to the Class R Monthly Interest with respect Administrator, an amount equal to the Series 20102004-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall 4 Percentage as of the immediately preceding beginning of such Series 2004-4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by CRCF for such Series 2004-4 Interest Period, (3) third, to the Series 2004-4 Distribution DateAccount to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2004-4 Percentage as of the beginning of such Series 2004-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2004-4 Interest Period, and (65) sixthfifth, the balance, if any, shall be treated as Principal Collections.
Appears in 2 contracts
Sources: Series 2004 4 Supplement (Cendant Corp), Series 2004 4 Supplement (Cendant Corp)
BALANCE. On or the fourth Business Day prior to the second Business Day preceding each Distribution Payment Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay on such Payment Date the balance (after making the payments required in Section 3.3(a)2.4 of this Series Supplement), if any, of the amounts available from the Series 20102009-6 2 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 2010-6 Revolving Period or any Series 2010-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to pay the Administrator, in an amount equal to the Series 20102009-6 2 Percentage as of the beginning of such the Series 20102009-6 2 Interest Period of ending on the portion day preceding such Payment Date of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102009-6 2 Interest Period, ;
(3ii) thirdsecond, to pay the Trustee, in an amount equal to the Series 20102009-6 2 Percentage as of the beginning of such the Series 20102009-6 2 Interest Period ending on the day preceding such Payment Date of the Trustee’s fees for such Series 20102009-6 2 Interest Period;
(iii) third, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifthon a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 20102009-6 2 Percentage as of the beginning of such the Series 20102009-6 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 20102009-6 2 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4iv) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be withdrawn from the Series 2009-2 Accrued Interest Account by the Trustee and (A) during the Series 2009-2 Revolving Period, deposited into the Series 2009-2 Excess Collection Account or (B) during the Series 2009-2 Controlled Amortization Period or the Series 2009-2 Rapid Amortization Period, deposited into the Series 2009-2 Collection Account and treated as Principal Collections.
Appears in 2 contracts
Sources: Amended and Restated Series Supplement (Hertz Global Holdings Inc), Series Supplement (Hertz Global Holdings Inc)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)), if any, of the amounts available from the Series 20102015-6 3 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 20102015-6 3 Revolving Period or any Series 20102015-6 3 Controlled Amortization Period, (1) first, to the Series 20102015-6 3 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 20102015-6 3 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102015-6 3 Interest Period, (3) third, to the Trustee, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of the Trustee’s fees for such Series 20102015-6 3 Interest Period, (4) fourth, to the Series 20102015-6 3 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102015-6 3 Interest Period, (6) sixth, to the Series 20102015-6 3 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 20102015-6 3 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102015-6 3 Collection Account and deposited in the Series 20102015-6 3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102015-6 3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of the Trustee’s fees for such Series 20102015-6 3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102015-6 3 Interest Period, (3) third, to the Series 20102015-6 3 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102015-6 3 Interest Period, (5) fifth, to the Series 20102015-6 3 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 20102015-6 3 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be treated as Principal Collections.
Appears in 2 contracts
Sources: Fourth Amended and Restated Series 2015 3 Supplement (Avis Budget Group, Inc.), Third Amended and Restated Series 2015 3 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)), if any, of the amounts available from the Series 20102015-6 3 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 20102015-6 3 Revolving Period or any the Series 20102015-6 3 Controlled Amortization Period, (1) first, to the Series 20102015-6 3 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 20102015-6 3 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102015-6 3 Interest Period, (3) third, to the Trustee, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of the Trustee’s fees for such Series 20102015-6 3 Interest Period, (4) fourth, to the Series 20102015-6 3 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102015-6 3 Interest Period, (6) sixth, to the Series 20102015-6 3 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 20102015-6 3 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102015-6 3 Collection Account and deposited in the Series 20102015-6 3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102015-6 3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of the Trustee’s fees for such Series 20102015-6 3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102015-6 3 Interest Period, (3) third, to the Series 20102015-6 3 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102015-6 3 Interest Period, (5) fifth, to the Series 20102015-6 3 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 20102015-6 3 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be treated as Principal Collections.
Appears in 2 contracts
Sources: Second Amended and Restated Series 2015 3 Supplement (Avis Budget Group, Inc.), Amended and Restated Series 2015 3 Supplement (Avis Budget Group, Inc.)
BALANCE. On or the fourth Business Day prior to the second Business Day preceding each Distribution Payment Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay pay, on such Payment Date, the balance (after making the payments required in Section 3.3(a)3.4 of this Series Supplement), if any, of the amounts available from the Series 2010-6 1 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 2010-6 Revolving Period or any Series 2010-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, in an amount equal to the Series 2010-6 1 Percentage as of the beginning of such the Series 2010-6 1 Interest Period of ending on the portion day preceding such Payment Date of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 2010-6 1 Interest Period, ;
(3ii) thirdsecond, to the Trustee, in an amount equal to the Series 2010-6 1 Percentage as of the beginning of such the Series 2010-6 1 Interest Period ending on the day preceding such Payment Date of the any Trustee’s fees for such Series 2010-6 1 Interest PeriodPeriod that remain unpaid on such Payment Date;
(iii) third, (4) fourthon a pro rata basis, to the Back-Up Disposition Agent and the Back-Up Administrator, in an amount equal to the Series 2010-6 Distribution Account to pay any Article VII Costs1 Percentage as of the beginning of the Series 2010-1 Interest Period ending on the day preceding such Payment Date of the Back-Up Disposition Agent’s and the Back-Up Administrator’s fees for such Series 2010-1 Interest Period;
(iv) fourth, (5) fifthon a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) that remain unpaid on such Payment Date to the Persons to whom such amounts are owed, in an amount equal to the Series 2010-6 1 Percentage as of the beginning of such the Series 2010-6 1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 1 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5v) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.
Appears in 2 contracts
Sources: Second Amended and Restated Series 2010 1 Supplement (Zipcar Inc), Amended and Restated Series 2010 1 Supplement (Zipcar Inc)
BALANCE. On or the fourth Business Day prior to the second Business Day preceding each Distribution Payment Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay pay, on such Payment Date, the balance (after making the payments required in Section 3.3(a)2.04 of this Series Supplement), if any, of the amounts available from the Series 20102004-6 1 Accrued Interest Account plus the amount, if any, withdrawn from the Series 2004-1 Reserve Account pursuant to Section 2.03(d) of this Series Supplement plus the amount, if any, drawn under the Series 2004-1 Letters of Credit and/or withdrawn from the Series 2004-1 Cash Collateral Account pursuant to Section 2.03(e) of this Series Supplement as follows:
(i) on each Distribution Date during the Series 2010-6 Revolving Period or any Series 2010-6 Controlled Amortization Period, (1) first, to any Interest Rate Hedge Provider, in an amount equal to the Series 2010-6 Reserve Accountportion, if any, of the Fixed Rate Payments for such Payment Date payable to such Interest Rate Hedge Provider;
(ii) second, to the Insurer, in an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Insurer Fee for the Series 20102004-6 1 Interest Period ended ending on the day preceding such Distribution Payment Date and (y) any Contingent other Insurer Reimbursement Amounts then due and payable to the Insurer (excluding therefrom any amounts included in Series 2004-1 Monthly Funding Costs Shortfall as Interest for such Series 2004-1 Interest Period); provided that during the continuance of an Insurer Default, no amounts in respect of the immediately preceding Distribution Date Insurer Fee shall be paid with the proceeds of a draw on a Series 2004-1 Letter of Credit or a withdrawal from a Series 2004-1 Cash Collateral Account;
(together with accrued interest thereon), (2iii) secondthird, to the Administrator, in an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such the Series 20102004-6 1 Interest Period of ending on the portion day preceding such Payment Date of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102004-6 1 Interest Period, ;
(3iv) thirdfourth, to the Trustee, in an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such the Series 20102004-6 1 Interest Period ending on the day preceding such Payment Date of the Trustee’s fees for such Series 20102004-6 1 Interest Period, ;
(4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5v) fifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such the Series 20102004-6 1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 20102004-6 1 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6vi) sixth, the balance, if any, shall be withdrawn from the Series 2004-1 Accrued Interest Account by the Trustee and (A) during the Series 2004-1 Revolving Period, deposited into the Series 2004-1 Excess Collection Account or (B) during the Series 2004-1 Controlled Amortization Period or the Series 2004-1 Rapid Amortization Period, (I) so long as the Series 2004-1 Principal Amount is greater than the Monthly Total Principal Allocation for the Related Month, deposited into the Series 2004-1 Collection Account and treated as Principal CollectionsCollections and (II) if the Series 2004-1 Principal Amount is zero or less than the Monthly Total Principal Allocation for the Related Month, paid to any Interest Rate Hedge Provider in respect of any amounts owing pursuant to its Series 2004-1 Interest Rate Hedge, other than any Fixed Rate Payment.
Appears in 2 contracts
Sources: Second Amended and Restated Series 2004 1 Supplement (Hertz Global Holdings Inc), Amended and Restated Series 2004 1 Supplement (Hertz Corp)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102003-6 5 Accrued Interest Account and the Series 2003-5 Distribution Account, plus the amount, if any, drawn under the Series 2003-5 Letters of Credit and/or withdrawn from the Series 2003-5 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2003-5 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102003-6 5 Revolving Period or any a Series 20102003-6 5 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve AccountSurety Provider, in an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Surety Provider Fee for the related Series 20102003-6 5 Interest Period ended on the day preceding such Distribution Date and and, without duplication, (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Administrator, an amount equal to the Series 20102003-6 5 Percentage as of the beginning of such Series 20102003-6 5 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102003-6 5 Interest Period, (3) third, to the Trustee, an amount equal to the Series 20102003-6 5 Percentage as of the beginning of such Series 20102003-6 5 Interest Period of the Trustee’s fees for such Series 20102003-6 5 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102003-6 5 Percentage as of the beginning of such Series 20102003-6 5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-6 5 Interest Period, (5) fifth, if AFC-II is required to replace the Series 2003-5 Interest Rate Cap Counterparty pursuant to Section 2.10(b), the initial payment, if any, to be made by AFC-II to the replacement Series 20102003-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly 5 Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, Rate Cap Counterparty and (6) sixth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2003-5 Collection Account and deposited in the Series 2003-5 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2003-5 Rapid Amortization Period, (1) first, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-5 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Trustee, an amount equal to the Series 2003-5 Percentage as of the beginning of such Series 2003-5 Interest Period of the Trustee’s fees for such Series 2003-5 Interest Period, (3) third, to the Administrator, an amount equal to the Series 2003-5 Percentage as of the beginning of such Series 2003-5 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2003-5 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2003-5 Percentage as of the beginning of such Series 2003-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2003-5 Interest Period, (5) fifth, if AFC-II is required to replace the Series 2003-5 Interest Rate Cap Counterparty pursuant to Section 2.10(b), the initial payment, if any, to be made by AFC-II to the replacement Series 2003-5 Interest Rate Cap Counterparty and (6) sixth, so long as the Series 2003-5 Invested Amount is greater than the Series 2003-5 Principal Allocations on such Distribution Date, an amount equal to the excess of the Series 2003-5 Invested Amount over the Series 2003-5 Principal Allocations on such Distribution Date shall be treated as Principal Collections.
Appears in 2 contracts
Sources: Series Supplement (Avis Group Holdings Inc), Series Supplement (Cendant Corp)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102012-6 3 Accrued Interest Account and the Series 2012-3 Distribution Account, plus the amount, if any, drawn under the Series 2012-3 Letters of Credit and/or withdrawn from the Series 2012-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2012-3 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102012-6 3 Revolving Period or any the Series 20102012-6 3 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102012-6 3 Percentage as of the beginning of such the Series 20102012-6 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102012-6 3 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102012-6 3 Percentage as of the beginning of such Series 20102012-6 3 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102012-6 3 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2012-3 Percentage as of the beginning of such Series 2012-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2012-3 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2012-3 Collection Account and deposited in the Series 2012-3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2012-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102012-6 3 Percentage as of the beginning of such Series 2012-3 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2012-3 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2012-3 Percentage as of the beginning of such Series 2012-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2012-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102012-6 3 Percentage as of the beginning of such Series 20102012-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102012-6 3 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102012-6 Reserve Account3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102012-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 3 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)), if any, of the amounts available from the Series 20102003-6 1 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 20102003-6 1 Revolving Period or any Series 2010-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102003-6 1 Percentage as of the beginning of such Series 20102003-6 1 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102003-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102003-6 1 Percentage as of the beginning of such Series 20102003-6 1 Interest Period of the Trustee’s 's fees for such Series 20102003-6 1 Interest Period, (43) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifththird, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102003-6 1 Percentage as of the beginning of such Series 20102003-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 1 Interest Period ended on the day preceding such Distribution Date and (y4) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventhfourth, the balance, if any (“Excess Collections”"EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent from the Series 20102003-6 1 Collection Account and deposited in the Series 20102003-6 1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102003-6 Rapid 1 Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102003-6 1 Percentage as of the beginning of such Series 20102003-6 1 Interest Period of the Trustee’s 's fees for such Series 20102003-6 1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 20102003-6 1 Percentage as of the beginning of such Series 20102003-6 1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF AFC-II for such Series 20102003-6 1 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102003-6 1 Percentage as of the beginning of such Series 20102003-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 1 Interest Period ended on the day preceding such Distribution Date and (y4) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixthfourth, the balance, if any, shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102018-6 1 Accrued Interest Account and the Series 2018-1 Distribution Account, plus the amount, if any, drawn under the Series 2018-1 Letters of Credit and/or withdrawn from the Series 2018-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2018-1 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102018-6 1 Revolving Period or any the Series 20102018-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102018-6 1 Percentage as of the beginning of such the Series 20102018-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102018-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102018-6 1 Percentage as of the beginning of such Series 20102018-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102018-6 1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2018-1 Percentage as of the beginning of such Series 2018-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2018-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2018-1 Collection Account and deposited in the Series 2018-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2018-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102018-6 1 Percentage as of the beginning of such Series 2018-1 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2018-1 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2018-1 Percentage as of the beginning of such Series 2018-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2018-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102018-6 1 Percentage as of the beginning of such Series 20102018-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102018-6 1 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102018-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102018-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 1 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102013-6 2 Accrued Interest Account and the Series 2013-2 Distribution Account, plus the amount, if any, drawn under the Series 2013-2 Letters of Credit and/or withdrawn from the Series 2013-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2013-2 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102013-6 2 Revolving Period or any the Series 20102013-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102013-6 2 Percentage as of the beginning of such the Series 20102013-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102013-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102013-6 2 Percentage as of the beginning of such Series 20102013-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102013-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2013-2 Percentage as of the beginning of such Series 2013-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2013-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2013-2 Collection Account and deposited in the Series 2013-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2013-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102013-6 2 Percentage as of the beginning of such Series 2013-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2013-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2013-2 Percentage as of the beginning of such Series 2013-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2013-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102013-6 2 Percentage as of the beginning of such Series 20102013-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102013-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102013-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102013-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2013 2 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102025-6 1 Accrued Interest Account and the Series 2025-1 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2025-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2025-1 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102025-6 1 Revolving Period or any the Series 20102025-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102025-6 1 Percentage as of the beginning of such the Series 20102025-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102025-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102025-6 1 Percentage as of the beginning of such Series 20102025-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102025-6 1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2025-1 Percentage as of the beginning of such Series 2025-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2025-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2025-1 Collection Account and deposited in the Series 2025-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2025-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102025-6 1 Percentage as of the beginning of such Series 2025-1 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2025-1 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2025-1 Percentage as of the beginning of such Series 2025-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2025-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102025-6 1 Percentage as of the beginning of such Series 20102025-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102025-6 1 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102025-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102025-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 1 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)), if any, of the amounts available from the Series 20102025-6 1 Accrued Interest Account and the Series 2025-1 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letter of Credit and/or withdrawn from the Series 2025-1 Cash Collateral Account pursuant to Section 3.3(d) plus the amount, if any, withdrawn from the Series 2025-1 Reserve Account pursuant to Section 3.3(b) as follows:
(i) on each Distribution Date during prior to the Series 2010-6 Revolving Period or any Series 2010-6 Controlled commencement of the Rapid Amortization Period, (1) first, to the Series 20102025-6 1 Reserve Account, an amount equal to the sum of (x) the aggregate Class A Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 20102025-6 1 Interest Period ended on the day preceding such Distribution Date and (y) any Class A Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF Interpace Funding (as specified in clause (iii) of the definition thereof) for such Series 20102025-6 1 Interest Period, (3) third, to AMERICAS 131302117 the Trustee, an amount equal to the Series 2010-6 Percentage as of fees owing to the beginning of such Series 2010-6 Interest Period of Trustee under the Trustee’s fees Base Indenture for such Series 20102025-6 1 Interest Period, (4) fourth, to the Series 20102025-6 1 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102025-6 1 Interest Period, Period and (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102025-6 1 Collection Account and deposited in the Series 20102025-6 1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102025-6 1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of fees owing to the beginning of such Series 2010-6 Interest Period of Trustee under the Trustee’s fees Base Indenture for such Series 20102025-6 1 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF Interpace Funding for such Series 20102025-6 1 Interest Period, (3) third, to the Series 20102025-6 1 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102025-6 1 Interest Period, Period and (5) fifth, to so long as the Series 20102025-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocation for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102025-6 Interest Period ended on 1 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocation for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102024-6 1 Accrued Interest Account and the Series 2024-1 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2024-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2024-1 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102024-6 1 Revolving Period or any the Series 20102024-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102024-6 1 Percentage as of the beginning of such the Series 20102024-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102024-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102024-6 1 Percentage as of the beginning of such Series 20102024-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102024-6 1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2024-1 Percentage as of the beginning of such Series 2024-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2024-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2024-1 Collection Account and deposited in the Series 2024-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2024-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102024-6 1 Percentage as of the beginning of such Series 2024-1 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2024-1 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2024-1 Percentage as of the beginning of such Series 2024-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2024-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102024-6 1 Percentage as of the beginning of such Series 20102024-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102024-6 1 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102024-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102024-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 1 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 3 Accrued Interest Account and the Series 2023-3 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-3 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-3 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 3 Revolving Period or any the Series 20102023-6 3 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve AccountAdministrator, 44 an amount equal to the sum Series 2023-3 Percentage as of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for beginning of the Series 20102023-6 3 Interest Period ended ending on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 3 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 3 Percentage as of the beginning of such Series 20102023-6 3 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 3 Interest Period, (43) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 3 Percentage as of the beginning of such Series 20102023-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 3 Interest Period ended on the day preceding such Distribution Date and (y4) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventhfourth, the balance, if any (“Excess Collections”)any, shall be withdrawn by the Paying Agent from the Series 20102023-6 3 Collection Account and deposited in the Series 20102023-6 3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102023-6 3 Rapid Amortization Period, (1) first, to the Series 2023-3 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2023-3 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 20102023-6 3 Percentage as of the beginning of such Series 20102023-6 3 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 3 Interest Period, (23) secondthird, to the Administrator, an amount equal to the Series 20102023-6 3 Percentage as of the beginning of such Series 20102023-6 3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102023-6 3 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 3 Percentage as of the beginning of such Series 20102023-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 3 Interest Period, Period and (5) fifth, to so long as the Series 20102023-6 Reserve Account3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on 3 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2023 3 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 5 Accrued Interest Account and the Series 2023-5 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-5 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-5 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 5 Revolving Period or any the Series 20102023-6 5 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 5 Percentage as of the beginning of such the Series 20102023-6 5 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 5 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 5 Percentage as of the beginning of such Series 20102023-6 5 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 5 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-5 Percentage as of the beginning of such Series 2023-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-5 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-5 Collection Account and deposited in the Series 2023-5 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2023-5 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102023-6 5 Percentage as of the beginning of such Series 2023-5 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2023-5 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2023-5 Percentage as of the beginning of such Series 2023-5 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-5 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 5 Percentage as of the beginning of such Series 20102023-6 5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 5 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102023-6 Reserve Account5 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 5 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102020-6 2 Accrued Interest Account and the Series 2020-2 Distribution Account, plus the amount, if any, drawn under the Series 2020-2 Letters of Credit and/or withdrawn from the Series 2020-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2020-2 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102020-6 2 Revolving Period or any the Series 20102020-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102020-6 2 Percentage as of the beginning of such the Series 20102020-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102020-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102020-6 2 Percentage as of the beginning of such Series 20102020-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102020-6 2 Interest Period, (43) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102020-6 2 Percentage as of the beginning of such Series 20102020-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102020-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 2 Interest Period ended on the day preceding such Distribution Date and (y4) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventhfourth, the balance, if any (“Excess Collections”)any, shall be withdrawn by the Paying Agent from the Series 20102020-6 2 Collection Account and deposited in the Series 20102020-6 2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102020-6 2 Rapid Amortization Period, (1) first, to the Series 2020-2 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2020-2 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 20102020-6 2 Percentage as of the beginning of such Series 20102020-6 2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102020-6 2 Interest Period, (23) secondthird, to the Administrator, an amount equal to the Series 20102020-6 2 Percentage as of the beginning of such Series 20102020-6 2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102020-6 2 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102020-6 2 Percentage as of the beginning of such Series 20102020-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102020-6 2 Interest Period, Period and (5) fifth, to so long as the Series 20102020-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102020-6 Interest Period ended on 2 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2020 2 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102003-6 4 Accrued Interest Account and the Series 2003-4 Distribution Account, plus the amount, if any, drawn under the Series 2003-4 Letters of Credit and/or withdrawn from the Series 2003-4 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2003-4 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102003-6 4 Revolving Period or any a Series 20102003-6 4 Controlled Amortization Period, (1) first, to the each Series 20102003-6 Reserve Account4 Interest Rate Swap Counterparty, an amount equal to the sum of (x) Fixed Rate Payment due and owing under the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups applicable Series 2003-4 Interest Rate Swap for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-4 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102003-6 4 Percentage as of the beginning of such Series 20102003-6 4 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102003-6 4 Interest Period, (34) thirdfourth, to the Trustee, an amount equal to the Series 20102003-6 4 Percentage as of the beginning of such Series 20102003-6 4 Interest Period of the Trustee’s fees for such Series 20102003-6 4 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102003-6 4 Percentage as of the beginning of such Series 20102003-6 4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-6 4 Interest Period, (6) sixth, to each Series 2003-4 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 20102003-6 Reserve Account, an amount equal to the sum of 4 Interest Rate Swap (xother than any Fixed Rate Payment) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102003-6 4 Collection Account and deposited in the Series 20102003-6 4 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102003-6 4 Rapid Amortization Period, (1) first, to each Series 2003-4 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment due and owing under the applicable Series 2003-4 Interest Rate Swap for such Distribution Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-4 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102003-6 4 Percentage as of the beginning of such Series 20102003-6 4 Interest Period of the Trustee’s fees for such Series 20102003-6 4 Interest Period, (24) secondfourth, to the Administrator, an amount equal to the Series 20102003-6 4 Percentage as of the beginning of such Series 20102003-6 4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF AFC-II for such Series 20102003-6 4 Interest Period, (35) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourthfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102003-6 4 Percentage as of the beginning of such Series 20102003-6 4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-6 4 Interest Period, (56) fifthsixth, to so long as the Series 20102003-6 Reserve Account4 Invested Amount is greater than the Series 2003-4 Principal Allocations on such Distribution Date, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102003-6 Interest Period ended 4 Invested Amount over the Series 2003-4 Principal Allocations on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2003-4 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2003-4 Interest Rate Swap (other than any Fixed Rate Payment).
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 Accrued Interest Account and the Series 2023-6 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-6 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-6 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 Revolving Period or any the Series 20102023-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 Percentage as of the beginning of such the Series 20102023-6 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 Percentage as of the beginning of such Series 20102023-6 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-6 Percentage as of the beginning of such Series 2023-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-6 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-6 Collection Account and deposited in the Series 2023-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2023-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102023-6 Percentage as of the beginning of such Series 2023-6 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2023-6 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2023-6 Percentage as of the beginning of such Series 2023-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-6 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 Percentage as of the beginning of such Series 20102023-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102023-6 Reserve AccountInvested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102015-6 2 Accrued Interest Account and the Series 2015-2 Distribution Account, plus the amount, if any, drawn under the Series 2015-2 Letters of Credit and/or withdrawn from the Series 2015-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2015-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102015-6 2 Revolving Period or any the Series 20102015-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102015-6 2 Percentage as of the beginning of such the Series 20102015-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102015-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102015-6 2 Percentage as of the beginning of such Series 20102015-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102015-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2015-2 Percentage as of the beginning of such Series 2015-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2015-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2015-2 Collection Account and deposited in the Series 2015-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2015-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102015-6 2 Percentage as of the beginning of such Series 2015-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2015-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2015-2 Percentage as of the beginning of such Series 2015-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2015-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102015-6 2 Percentage as of the beginning of such Series 20102015-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102015-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102015-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102015-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102005-6 1 Accrued Interest Account and the Series 2005-1 Distribution Account, plus the amount, if any, drawn under the Series 2005-1 Letters of Credit and/or withdrawn from the Series 2005-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2005-1 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102005-6 1 Revolving Period or any a Series 20102005-6 1 Controlled Amortization Period, (1) first, to the each Series 20102005-6 Reserve Account1 Interest Rate Swap Counterparty, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Fixed Rate Payment for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date due and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)owing to such Series 2005-1 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102005-6 1 Percentage as of the beginning of such the Series 20102005-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102005-6 1 Interest Period, (34) thirdfourth, to the Trustee, an amount equal to the Series 20102005-6 1 Percentage as of the beginning of such Series 20102005-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102005-6 1 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102005-6 1 Percentage as of the beginning of such Series 20102005-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102005-6 1 Interest Period, (6) sixth, to each Series 2005-1 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 20102005-6 Reserve Account, an amount equal to the sum of 1 Interest Rate Swap (xother than any Fixed Rate Payment) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102005-6 1 Collection Account and deposited in the Series 20102005-6 1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102005-6 1 Rapid Amortization Period, (1) first, to each Series 2005-1 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2005-1 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102005-6 1 Percentage as of the beginning of such Series 20102005-6 1 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102005-6 1 Interest PeriodPeri-od, (24) secondfourth, to the Administrator, an amount equal to the Series 20102005-6 1 Percentage as of the beginning of such Series 20102005-6 1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF CRCF for such Series 20102005-6 1 Interest Period, (35) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourthfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102005-6 1 Percentage as of the beginning of such Series 20102005-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102005-6 1 Interest Period, (56) fifthsixth, to so long as the Series 20102005-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102005-6 Interest Period ended on 1 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2005-1 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2005-1 Interest Rate Swap (other than any Fixed Rate Payment).
Appears in 1 contract
Sources: Series Supplement (Cendant Corp)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102026-6 4 Accrued Interest Account and the Series 2026-4 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2026-4 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2026-4 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102026-6 4 Revolving Period or any the Series 20102026-6 4 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102026-6 4 Percentage as of the beginning of such the Series 20102026-6 4 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102026-6 4 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102026-6 4 Percentage as of the beginning of such Series 20102026-6 4 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102026-6 4 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2026-4 Percentage as of the beginning of such Series 2026-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2026-4 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2026-4 Collection Account and deposited in the Series 2026-4 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2026-4 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102026-6 4 Percentage as of the beginning of such Series 2026-4 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2026-4 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2026-4 Percentage as of the beginning of such Series 2026-4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2026-4 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102026-6 4 Percentage as of the beginning of such Series 20102026-6 4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102026-6 4 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102026-6 Reserve Account4 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102026-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 4 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 Accrued Interest Account and the Series 2023-6 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-6 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-6 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 Revolving Period or any the Series 20102023-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 Percentage as of the beginning of such the Series 20102023-6 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 Percentage as of the beginning of such Series 20102023-6 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 Interest Period, (43) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 Percentage as of the beginning of such Series 20102023-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on the day preceding such Distribution Date and (y4) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventhfourth, the balance, if any (“Excess Collections”)any, shall be withdrawn by the Paying Agent from the Series 20102023-6 Collection Account and deposited in the Series 20102023-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102023-6 Rapid Amortization Period, (1) first, to the Series 2023-6 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2023-6 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 20102023-6 Percentage as of the beginning of such Series 20102023-6 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 Interest Period, (23) secondthird, to the Administrator, an amount equal to the Series 20102023-6 Percentage as of the beginning of such Series 20102023-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102023-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 Percentage as of the beginning of such Series 20102023-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 Interest Period, Period and (5) fifth, to so long as the Series 20102023-6 Reserve AccountInvested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2023 6 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102017-6 1 Accrued Interest Account and the Series 2017-1 Distribution Account, plus the amount, if any, drawn under the Series 2017-1 Letters of Credit and/or withdrawn from the Series 2017-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2017-1 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102017-6 1 Revolving Period or any the Series 20102017-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102017-6 1 Percentage as of the beginning of such the Series 20102017-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102017-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102017-6 1 Percentage as of the beginning of such Series 20102017-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102017-6 1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2017-1 Percentage as of the beginning of such Series 2017-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2017-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2017-1 Collection Account and deposited in the Series 2017-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2017-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102017-6 1 Percentage as of the beginning of such Series 2017-1 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2017-1 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2017-1 Percentage as of the beginning of such Series 2017-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2017-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102017-6 1 Percentage as of the beginning of such Series 20102017-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102017-6 1 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102017-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102017-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 1 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 4 Accrued Interest Account and the Series 2023-4 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-4 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-4 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 4 Revolving Period or any the Series 20102023-6 4 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such the Series 20102023-6 4 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 4 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such Series 20102023-6 4 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 4 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-4 Percentage as of the beginning of such Series 2023-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-4 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-4 Collection Account and deposited in the Series 2023-4 Excess Collection Account; and AMERICAS 130188167 44
(ii) on each Distribution Date during the Series 2023-4 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such Series 2023-4 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2023-4 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2023-4 Percentage as of the beginning of such Series 2023-4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-4 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such Series 20102023-6 4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 4 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102023-6 Reserve Account4 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 4 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Second Amended and Restated Series 2023 4 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102020-6 2 Accrued Interest Account and the Series 2020-2 Distribution Account, plus the amount, if any, drawn under the Series 2020-2 Letters of Credit and/or withdrawn from the Series 2020-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2020-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102020-6 2 Revolving Period or any the Series 20102020-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102020-6 2 Percentage as of the beginning of such the Series 20102020-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102020-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102020-6 2 Percentage as of the beginning of such Series 20102020-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102020-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2020-2 Percentage as of the beginning of such Series 2020-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2020-2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2020-2 Collection Account and deposited in the Series 2020-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2020-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102020-6 2 Percentage as of the beginning of such Series 2020-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2020-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2020-2 Percentage as of the beginning of such Series 2020-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2020-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102020-6 2 Percentage as of the beginning of such Series 20102020-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102020-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102020-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102020-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102024-6 1 Accrued Interest Account and the Series 2024-1 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2024-1 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2024-1 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102024-6 1 Revolving Period or any the Series 20102024-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102024-6 1 Percentage as of the beginning of such the Series 20102024-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102024-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102024-6 1 Percentage as of the beginning of such Series 20102024-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102024-6 1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2024-1 Percentage as of the beginning of such Series 2024-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2024-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2024-1 Collection Account and deposited in the Series 2024-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2024-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102024-6 1 Percentage as of the beginning of such Series 2024-1 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2024-1 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2024-1 Percentage as of the beginning of such Series 2024-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2024-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102024-6 1 Percentage as of the beginning of such Series 20102024-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102024-6 1 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102024-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102024-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 1 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2024 1 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102005-6 2 Accrued Interest Account and the Series 2005-2 Distribution Account, plus the amount, if any, drawn under the Series 2005-2 Letters of Credit and/or withdrawn from the Series 2005-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2005-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102005-6 2 Revolving Period or any the Series 20102005-6 2 Controlled Amortization Period, (1) first, to the each Series 20102005-6 Reserve Account2 Interest Rate Swap Counterparty, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Fixed Rate Payment for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date due and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)owing to such Series 2005-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such the Series 20102005-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102005-6 2 Interest Period, (34) thirdfourth, to the Trustee, an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such Series 20102005-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102005-6 2 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such Series 20102005-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102005-6 2 Interest Period, (6) sixth, to each Series 2005-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 20102005-6 Reserve Account, an amount equal to the sum of 2 Interest Rate Swap (xother than any Fixed Rate Payment) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102005-6 2 Collection Account and deposited in the Series 20102005-6 2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102005-6 2 Rapid Amortization Period, (1) first, to each Series 2005-2 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2005-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such Series 20102005-6 2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102005-6 2 Interest Period, (24) secondfourth, to the Administrator, an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such Series 20102005-6 2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102005-6 2 Interest Period, (35) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourthfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such Series 20102005-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102005-6 2 Interest Period, (56) fifthsixth, to so long as the Series 20102005-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102005-6 Interest Period ended on 2 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2005-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2005-2 Interest Rate Swap (other than any Fixed Rate Payment).
Appears in 1 contract
Sources: Amended and Restated Series 2005 2 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102005-6 2 Accrued Interest Account and the Series 2005-2 Distribution Account, plus the amount, if any, drawn under the Series 2005-2 Letters of Credit and/or withdrawn from the Series 2005-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2005-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102005-6 2 Revolving Period or any a Series 20102005-6 2 Controlled Amortization Period, (1) first, to the each Series 20102005-6 Reserve Account2 Interest Rate Swap Counterparty, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Fixed Rate Payment for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date due and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)owing to such Series 2005-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such the Series 20102005-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102005-6 2 Interest Period, (34) thirdfourth, to the Trustee, an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such Series 20102005-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102005-6 2 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such Series 20102005-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102005-6 2 Interest Period, (6) sixth, to each Series 2005-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 20102005-6 Reserve Account, an amount equal to the sum of 2 Interest Rate Swap (xother than any Fixed Rate Payment) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102005-6 2 Collection Account and deposited in the Series 20102005-6 2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102005-6 2 Rapid Amortization Period, (1) first, to each Series 2005-2 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2005-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such Series 20102005-6 2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102005-6 2 Interest Period, (24) secondfourth, to the Administrator, an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such Series 20102005-6 2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF CRCF for such Series 20102005-6 2 Interest Period, (35) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourthfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such Series 20102005-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102005-6 2 Interest Period, (56) fifthsixth, to so long as the Series 20102005-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102005-6 Interest Period ended on 2 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2005-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2005-2 Interest Rate Swap (other than any Fixed Rate Payment).
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 2 Accrued Interest Account and the Series 2023-2 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-2 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 2 Revolving Period or any the Series 20102023-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 2 Percentage as of the beginning of such the Series 20102023-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 2 Percentage as of the beginning of such Series 20102023-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-2 Percentage as of the beginning of such Series 2023-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-2 Collection Account and deposited in the Series 2023-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2023-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102023-6 2 Percentage as of the beginning of such Series 2023-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2023-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2023-2 Percentage as of the beginning of such Series 2023-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 2 Percentage as of AMERICAS 129552364 44 the beginning of such Series 20102023-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102023-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Second Amended and Restated Series 2023 2 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Busi-ness Day preceding each Distribution Date, the Administrator Adminis-trator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section Sec-tion 3.3(a)), if any, of the amounts available from the Series 20102005-6 3 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 20102005-6 3 Revolving Period or any the Series 20102005-6 3 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102005-6 3 Percentage as of the beginning of such Series 20102005-6 3 Interest Period of the portion por-tion of the Monthly Administration Fee payable pay-able by ABRCF CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102005-6 3 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102005-6 3 Percentage as of the beginning of such Series 20102005-6 3 Interest Period of the Trustee’s fees for such Series 20102005-6 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 3 Interest Period, (3) third, to the Series 20102005-6 3 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102005-6 3 Percentage as of the beginning of such Series 20102005-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102005-6 3 Interest Period, Period and (5) fifth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2005-3 Collection Account and deposited in the Series 2005-3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2005-3 Rapid Amorti-zation Period, (1) first, to the Series 2010-6 Reserve AccountTrustee, an amount equal to the sum Series 2005-3 Percentage as of the beginning of such Series 2005-3 Interest Period of the Trustee’s fees for such Series 2005-3 Interest Peri-od, (x2) second, to the Class R Monthly Interest with respect Adminis-tra-tor, an amount equal to the Series 20102005-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall 3 Percentage as of the immediately preceding beginning of such Series 2005-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by CRCF for such Series 2005-3 Interest Period, (3) third, to the Series 2005-3 Distribution DateAccount to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2005-3 Percentage as of the beginning of such Series 2005-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2005-3 Interest Period and (65) sixthfifth, the balance, if any, shall be treated as Principal Collections.
Appears in 1 contract
Sources: Series Supplement (Cendant Corp)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102012-6 2 Accrued Interest Account and the Series 2012-2 Distribution Account, plus the amount, if any, drawn under the Series 2012-2 Letters of Credit and/or withdrawn from the Series 2012-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2012-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102012-6 2 Revolving Period or any the Series 20102012-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102012-6 2 Percentage as of the beginning of such the Series 20102012-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102012-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102012-6 2 Percentage as of the beginning of such Series 20102012-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102012-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2012-2 Percentage as of the beginning of such Series 2012-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2012-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2012-2 Collection Account and deposited in the Series 2012-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2012-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102012-6 2 Percentage as of the beginning of such Series 2012-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2012-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2012-2 Percentage as of the beginning of such Series 2012-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2012-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102012-6 2 Percentage as of the beginning of such Series 20102012-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102012-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102012-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102012-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102011-6 5 Accrued Interest Account and the Series 2011-5 Distribution Account, plus the amount, if any, drawn under the Series 2011-5 Letters of Credit and/or withdrawn from the Series 2011-5 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2011-5 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102011-6 5 Revolving Period or any the Series 20102011-6 5 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102011-6 5 Percentage as of the beginning of such the Series 20102011-6 5 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102011-6 5 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102011-6 5 Percentage as of the beginning of such Series 20102011-6 5 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102011-6 5 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2011-5 Percentage as of the beginning of such Series 2011-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-5 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2011-5 Collection Account and deposited in the Series 2011-5 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2011-5 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102011-6 5 Percentage as of the beginning of such Series 2011-5 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2011-5 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2011-5 Percentage as of the beginning of such Series 2011-5 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2011-5 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102011-6 5 Percentage as of the beginning of such Series 20102011-6 5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102011-6 5 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102011-6 Reserve Account5 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102011-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 5 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2011 5 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102004-6 2 Accrued Interest Account and the Series 2004-2 Distribution Account, plus the amount, if any, drawn under the Series 2004-2 Letters of Credit and/or withdrawn from the Series 2004-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2004-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102004-6 2 Revolving Period or any a Series 20102004-6 2 Controlled Amortization Period, (1) first, to the each Series 20102004-6 Reserve Account2 Interest Rate Swap Counterparty, an amount equal to the sum portion, if any, of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Fixed Rate Payment for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date due and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)owing to such Series 2004-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2004-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102004-6 2 Percentage as of the beginning of such the Series 20102004-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102004-6 2 Interest Period, (34) thirdfourth, to the Trustee, an amount equal to the Series 20102004-6 2 Percentage as of the beginning of such Series 20102004-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102004-6 2 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102004-6 2 Percentage as of the beginning of such Series 20102004-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102004-6 2 Interest Period, (6) sixth, to each Series 2004-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 20102004-6 Reserve Account, an 2 Interest Rate Swap (other than any amount equal to included in the sum of (xFixed Rate Payment) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102004-6 2 Collection Account and deposited in the Series 20102004-6 2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102004-6 2 Rapid Amortization Period, (1) first, to each Series 2004-2 Interest Rate Swap Counterparty, an amount equal to the portion, if any, of the Fixed Rate Payment for such Distribution Date due and owing to such Series 2004-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2004-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102004-6 2 Percentage as of the beginning of such the Series 20102004-6 2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102004-6 2 Interest Period, (24) secondfourth, to the Administrator, an amount equal to the Series 20102004-6 2 Percentage as of the beginning of such Series 20102004-6 2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF AFC-II for such Series 20102004-6 2 Interest Period, (35) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourthfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102004-6 2 Percentage as of the beginning of such Series 20102004-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102004-6 2 Interest Period, (56) fifthsixth, to so long as the Series 20102004-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102004-6 Interest Period ended on 2 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2004-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2004-2 Interest Rate Swap (other than any amount included in the Fixed Rate Payment).
Appears in 1 contract
Sources: Series Supplement (Cendant Corp)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102021-6 1 Accrued Interest Account and the Series 2021-1 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2021-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2021-1 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102021-6 1 Revolving Period or any the Series 20102021-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102021-6 1 Percentage as of the beginning of such the Series 20102021-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102021-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102021-6 1 Percentage as of the beginning of such Series 20102021-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102021-6 1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2021-1 Percentage as of the beginning of such Series 2021-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2021-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2021-1 Collection Account and deposited in the Series 2021-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2021-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102021-6 1 Percentage as of the beginning of such Series 2021-1 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2021-1 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2021-1 Percentage as of the beginning of such Series 2021-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2021-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102021-6 1 Percentage as of the beginning of such Series 20102021-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102021-6 1 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102021-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102021-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 1 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)), if any, of the amounts available from the Series 20102009-6 3 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 20102009-6 3 Revolving Period or any Series 2010-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102009-6 3 Percentage as of the beginning of such Series 20102009-6 3 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102009-6 3 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102009-6 3 Percentage as of the beginning of such Series 20102009-6 3 Interest Period of the Trustee’s fees for such Series 20102009-6 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 3 Interest Period, (3) third, to the Series 20102009-6 3 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102009-6 3 Percentage as of the beginning of such Series 20102009-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102009-6 3 Interest Period, Period and (5) fifth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2009-3 Collection Account and deposited in the Series 2009-3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2009-3 Amortization Period, (1) first, to the Series 2010-6 Reserve AccountTrustee, an amount equal to the sum Series 2009-3 Percentage as of the beginning of such Series 2009-3 Interest Period of the Trustee’s fees for such Series 2009-3 Interest Period, (x2) second, to the Class R Monthly Interest with respect Administrator, an amount equal to the Series 20102009-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall 3 Percentage as of the immediately preceding beginning of such Series 2009-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2009-3 Interest Period, (3) third, to the Series 2009-3 Distribution DateAccount to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2009-3 Percentage as of the beginning of such Series 2009-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2009-3 Interest Period and (65) sixthfifth, the balance, if any, shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102006-6 1 Accrued Interest Account and the Series 2006-1 Distribution Account, plus the amount, if any, drawn under the Series 2006-1 Letters of Credit and/or withdrawn from the Series 2006-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2006-1 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102006-6 1 Revolving Period or any the Series 20102006-6 Controlled 1 Controlled Amortization Period, (1) first, to the each Series 20102006-6 Reserve Account1 Interest Rate Swap Counterparty, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Fixed Rate Payment for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date due and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)owing to such Series 2006-1 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2006-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102006-6 1 Percentage as of the beginning of such the Series 20102006-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable payable by ABRCF CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102006-6 1 Interest Period, (4) fourth, to the Trustee, an amount equal to the Series 2006-1 Percentage as of the beginning of such Series 2006-1 Interest Period of the fees owing to the Trustee under the Indenture for such Series 2006-1 Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2006-1 Percentage as of the beginning of such Series 2006-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2006-1 Interest Period, (6) sixth, to each Series 2006-1 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2006-1 Interest Rate Swap (other than any Fixed Rate Payment) and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2006-1 Collection Account and deposited in the Series 2006-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2006-1 Rapid Amortization Period, (1) first, to each Series 2006-1 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2006-1 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2006-1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102006-6 1 Percentage as of the beginning of such Series 20102006-6 1 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102006-6 1 Interest PeriodPeriod, (4) fourth, to the Administrator, an amount equal to the Series 20102006-6 Distribution Account to pay any Article VII Costs1 Percentage as of the beginning of such Series 2006-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by CRCF for such Series 2006-1 Interest Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102006-6 1 Percentage as of the beginning of such Series 20102006-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102006-6 1 Interest Period, (6) sixth, to so long as the Series 20102006-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102006-6 Interest Period ended on 1 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall Related Month shall be treated as of the immediately preceding Distribution Date, Principal Collections and (7) seventh, to each Series 2006-1 Interest Rate Swap Counterparty, any amounts due and owing under the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the applicable Series 20102006-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 1 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges Rate Swap (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be treated as Principal Collectionsany Fixed Rate Payment).
Appears in 1 contract
Sources: Series Supplement (Cendant Corp)
BALANCE. On or the fourth Business Day prior to the second Business Day preceding each Distribution Payment Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay pay, on such Payment Date, the balance (after making the payments required in Section 3.3(a)2.4 of this Series Supplement), if any, of the amounts available from the Series 20102005-6 2 Accrued Interest Account plus the amount, if any, withdrawn from the Class A Reserve Account pursuant to Section 2.3(d)(i) of this Series Supplement plus the amount, if any, withdrawn from the Class B Reserve Account pursuant to Section 2.3(d)(ii) of this Series Supplement plus the amount, if any, drawn under the Class A Letters of Credit and/or withdrawn from the Class A Cash Collateral Accounts pursuant to Section 2.3(e)(I) of this Series Supplement plus the amount, if any, drawn under the Class B Letters of Credit and/or withdrawn from the Class B Cash Collateral Accounts pursuant to Section 2.3 (e)(II) of this Series Supplement as follows:
(i) first, on a pro rata basis to each Distribution Interest Rate Hedge Provider, in an amount equal to the portion of the Monthly Hedge Payment for such Payment Date during the Series 2010-6 Revolving Period or any Series 2010-6 Controlled Amortization Period, payable to such Interest Rate Hedge Provider;
(1ii) firstsecond, to the Series 2010-6 Reserve AccountInsurer, in an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Insurer Fee for the Series 20102005-6 2 Interest Period ended ending on the day preceding such Distribution Payment Date and (y) any Contingent other Insurer Reimbursement Amounts then due and payable to the Insurer (excluding therefrom any amounts included in Class A Monthly Funding Costs Shortfall as Interest for such Series 2005-2 Interest Period), provided that during the continuance of an Insurer Default, no amounts in respect of the immediately preceding Distribution Date Insurer Fee shall be paid with the proceeds of a draw on a Series 2005-2 Letters of Credit or a withdrawal from a Series 2005-2 Cash Collateral Account;
(together with accrued interest thereon), (2iii) secondthird, to the Administrator, in an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such the Series 20102005-6 2 Interest Period of ending on the portion day preceding such Payment Date of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102005-6 2 Interest Period, ;
(3iv) thirdfourth, to the Trustee, in an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such the Series 20102005-6 2 Interest Period ending on the day preceding such Payment Date of the Trustee’s fees for such Series 20102005-6 2 Interest Period;
(v) fifth, on a pro rata basis, (4x) fourthto each Interest Rate Hedge Provider, in an amount equal to the Series 2010-6 Distribution Account any remaining amounts due and owing to such Interest Rate Hedge Provider and (y) to pay any Article VII Costs, (5) fifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for aboveabove and in the preceding clause (x)) to the Persons to whom such amounts are owed, in an amount equal to the Series 20102005-6 2 Percentage as of the beginning of such the Series 20102005-6 2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 20102005-6 2 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6vi) sixth, the balance, if any, shall be withdrawn from the Series 2005-2 Accrued Interest Account by the Trustee and (A) during the Series 2005-2 Revolving Period, deposited into the Series 2005-2 Excess Collection Account or (B) during the Series 2005-2 Controlled Amortization Period or the Series 2005-2 Rapid Amortization Period, deposited into the Series 2005-2 Collection Account and treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series Supplement (Hertz Global Holdings Inc)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102009-6 1 Accrued Interest Account and the Series 2009-1 Distribution Account, plus the amount, if any, drawn under the Series 2009-1 Letters of Credit and/or withdrawn from the Series 2009-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2009-1 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102009-6 1 Revolving Period or any the Series 20102009-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102009-6 1 Percentage as of the beginning of such the Series 20102009-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102009-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102009-6 1 Percentage as of the beginning of such Series 20102009-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102009-6 1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2009-1 Percentage as of the beginning of such Series 2009-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2009-1 Interest Period, and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2009-1 Collection Account and deposited in the Series 2009-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2009-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102009-6 1 Percentage as of the beginning of such Series 2009-1 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2009-1 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2009-1 Percentage as of the beginning of such Series 2009-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2009-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102009-6 1 Percentage as of the beginning of such Series 20102009-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102009-6 1 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102009-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102009-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 1 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102018-6 2 Accrued Interest Account and the Series 2018-2 Distribution Account, plus the amount, if any, drawn under the Series 2018-2 Letters of Credit and/or withdrawn from the Series 2018-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2018-2 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102018-6 2 Revolving Period or any the Series 20102018-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102018-6 2 Percentage as of the beginning of such the Series 20102018-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102018-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102018-6 2 Percentage as of the beginning of such Series 20102018-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102018-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2018-2 Percentage as of the beginning of such Series 2018-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2018-2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2018-2 Collection Account and deposited in the Series 2018-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2018-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102018-6 2 Percentage as of the beginning of such Series 2018-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2018-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2018-2 Percentage as of the beginning of such Series 2018-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2018-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102018-6 2 Percentage as of the beginning of such Series 20102018-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102018-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102018-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102018-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2018 2 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.3(a) of this Supplement), if any, of the amounts available from Interest Collections allocated to holders of the Series 20101997-6 Accrued Interest Account 1 Notes since the preceding Distribution Date as follows:
(i) on each Distribution Date during the Series 20101997-6 1 Revolving Period or any Series 20101997-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve AccountSurety Provider, in an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Surety Provider Fee for the related Series 20101997-6 1 Interest Period ended on the day preceding such Distribution Date and and, without duplication, (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Administrator, an amount equal to the Series 20101997-6 1 Percentage as of the beginning of such Series 20101997-6 1 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20101997-6 1 Interest Period, (3) third, to the Trustee, an amount equal to the Series 20101997-6 1 Percentage as of the beginning of such Series 20101997-6 1 Interest Period of the Trustee’s 's fees for such Series 20101997-6 1 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20101997-6 1 Percentage as of the beginning of such Series 20101997-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20101997-6 1 Interest Period, Period and (5) fifth, the balance, if any ("Excess Collections"), shall be withdrawn by the Paying Agent from the Series 1997-1 Collection Account and deposited in the Series 1997-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 1997-1 Rapid Amortization Period, (1) first, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 20101997-6 Reserve Account1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Trustee, an amount equal to the sum Series 1997-1 Percentage as of the beginning of such Series 1997-1 Interest Period of the Trustee's fees for such Series 1997-1 Interest Period, (x3) third, to the Class R Monthly Interest with respect Administrator, an amount equal to the Series 20101997-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall 1 Percentage as of the immediately preceding Distribution Datebeginning of such Series 1997-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 1997-1 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 1997-1 Percentage as of the beginning of such Series 1997-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 1997-1 Interest Period and (65) sixthfifth, the balance, if any, shall constitute Excess Collections and shall be treated as Principal Collectionswithdrawn by the Paying Agent from the Series 1997-1 Collection Account and deposited in the Series 1997-1 Excess Collection Account.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102022-6 5 Accrued Interest Account and the Series 2022-5 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2022-5 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2022-5 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102022-6 5 Revolving Period or any the Series 20102022-6 5 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102022-6 5 Percentage as of the beginning of such the Series 20102022-6 5 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102022-6 5 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102022-6 5 Percentage as of the beginning of such Series 20102022-6 5 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102022-6 5 Interest Period, (43) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102022-6 5 Percentage as of the beginning of such Series 20102022-6 5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102022-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 5 Interest Period ended on the day preceding such Distribution Date and (y4) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventhfourth, the balance, if any (“Excess Collections”)any, shall be withdrawn by the Paying Agent from the Series 20102022-6 5 Collection Account and deposited in the Series 20102022-6 5 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102022-6 5 Rapid Amortization Period, (1) first, to the Series 2022-5 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2022-5 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 20102022-6 5 Percentage as of the beginning of such Series 20102022-6 5 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102022-6 5 Interest Period, (23) secondthird, to the Administrator, an amount equal to the Series 20102022-6 5 Percentage as of the beginning of such Series 20102022-6 5 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102022-6 5 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102022-6 5 Percentage as of the beginning of such Series 20102022-6 5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102022-6 5 Interest Period, Period and (5) fifth, to so long as the Series 20102022-6 Reserve Account5 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102022-6 Interest Period ended on 5 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2022 5 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102021-6 2 Accrued Interest Account and the Series 2021-2 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2021-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2021-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102021-6 2 Revolving Period or any the Series 20102021-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102021-6 2 Percentage as of the beginning of such the Series 20102021-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102021-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102021-6 2 Percentage as of the beginning of such Series 20102021-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102021-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2021-2 Percentage as of the beginning of such Series 2021-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2021-2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2021-2 Collection Account and deposited in the Series 2021-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2021-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102021-6 2 Percentage as of the beginning of such Series 2021-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2021-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2021-2 Percentage as of the beginning of such Series 2021-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2021-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102021-6 2 Percentage as of the beginning of such Series 20102021-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102021-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102021-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102021-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102013-6 1 Accrued Interest Account and the Series 2013-1 Distribution Account, plus the amount, if any, drawn under the Series 2013-1 Letters of Credit and/or withdrawn from the Series 2013-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2013-1 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102013-6 1 Revolving Period or any the Series 20102013-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102013-6 1 Percentage as of the beginning of such the Series 20102013-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102013-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102013-6 1 Percentage as of the beginning of such Series 20102013-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102013-6 1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2013-1 Percentage as of the beginning of such Series 2013-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2013-1 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2013-1 Collection Account and deposited in the Series 2013-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2013-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102013-6 1 Percentage as of the beginning of such Series 2013-1 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2013-1 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2013-1 Percentage as of the beginning of such Series 2013-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2013-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102013-6 1 Percentage as of the beginning of such Series 20102013-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102013-6 1 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102013-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102013-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 1 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102025-6 2 Accrued Interest Account and the Series 2025-2 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2025-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2025-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102025-6 2 Revolving Period or any the Series 20102025-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102025-6 2 Percentage as of the beginning of such the Series 20102025-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102025-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102025-6 2 Percentage as of the beginning of such Series 20102025-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102025-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2025-2 Percentage as of the beginning of such Series 2025-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2025-2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2025-2 Collection Account and deposited in the Series 2025-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2025-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102025-6 2 Percentage as of the beginning of such Series 2025-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2025-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2025-2 Percentage as of the beginning of such Series 2025-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2025-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102025-6 2 Percentage as of the beginning of such Series 20102025-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102025-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102025-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102025-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102012-6 2 Accrued Interest Account and the Series 2012-2 Distribution Account, plus the amount, if any, drawn under the Series 2012-2 Letters of Credit and/or withdrawn from the Series 2012-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2012-2 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102012-6 2 Revolving Period or any the Series 20102012-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102012-6 2 Percentage as of the beginning of such the Series 20102012-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102012-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102012-6 2 Percentage as of the beginning of such Series 20102012-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102012-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2012-2 Percentage as of the beginning of such Series 2012-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2012-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2012-2 Collection Account and deposited in the Series 2012-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2012-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102012-6 2 Percentage as of the beginning of such Series 2012-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2012-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2012-2 Percentage as of the beginning of such Series 2012-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2012-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102012-6 2 Percentage as of the beginning of such Series 20102012-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102012-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102012-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102012-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.. NEWYORK 8960490 (2K)A&R Series 2012-2 Supplement (Class C Note issuance) 39
Appears in 1 contract
Sources: Amended and Restated Series 2012 2 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102003-6 3 Accrued Interest Account and the Series 2003-3 Distribution Account, plus the amount, if any, drawn under the Series 2003-3 Letters of Credit and/or withdrawn from the Series 2003-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2003-3 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102003-6 3 Revolving Period or any a Series 20102003-6 3 Controlled Amortization Period, (1) first, to the Series 20102003-6 Reserve Account3 Interest Rate Swap Counterparty, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Fixed Rate Payment for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-3 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102003-6 3 Percentage as of the beginning of such Series 20102003-6 3 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102003-6 3 Interest Period, (34) thirdfourth, to the Trustee, an amount equal to the Series 20102003-6 3 Percentage as of the beginning of such Series 20102003-6 3 Interest Period of the Trustee’s fees for such Series 20102003-6 3 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102003-6 3 Percentage as of the beginning of such Series 20102003-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-6 3 Interest Period, (6) sixth, to the Series 20102003-6 Reserve Account3 Interest Rate Swap Counterparty, an amount equal to the sum of (x) the Class R Monthly Interest with respect to any amounts due and owing under the Series 20102003-6 3 Interest Period ended on the day preceding such Distribution Date and Rate Swap (yother than any Fixed Rate Payment) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102003-6 3 Collection Account and deposited in the Series 20102003-6 3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102003-6 3 Rapid Amortization Period, (1) first, to the Series 2003-3 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-3 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102003-6 3 Percentage as of the beginning of such Series 20102003-6 3 Interest Period of the Trustee’s fees for such Series 20102003-6 3 Interest Period, (24) secondfourth, to the Administrator, an amount equal to the Series 20102003-6 3 Percentage as of the beginning of such Series 20102003-6 3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF AFC-II for such Series 20102003-6 3 Interest Period, (35) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourthfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102003-6 3 Percentage as of the beginning of such Series 20102003-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-6 3 Interest Period, (56) fifthsixth, to so long as the Series 20102003-6 Reserve Account3 Invested Amount is greater than the Series 2003-3 Principal Allocations on such Distribution Date, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102003-6 Interest Period ended 3 Invested Amount over the Series 2003-3 Principal Allocations on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be treated as Principal CollectionsCollections and (7) seventh, to the Series 2003-3 Interest Rate Swap Counterparty, any amounts due and owing under the Series 2003-3 Interest Rate Swap (other than any Fixed Rate Payment).
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102003-6 3 Accrued Interest Account and the Series 2003-3 Distribution Account, plus the amount, if any, drawn under the Series 2003-3 Letters of Credit and/or withdrawn from the Series 2003-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2003-3 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102003-6 3 Revolving Period or any a Series 20102003-6 3 Controlled Amortization Period, (1) first, to the Series 20102003-6 Reserve Account3 Interest Rate Swap Counterparty, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Fixed Rate CONFORMED COPY Payment for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-3 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102003-6 3 Percentage as of the beginning of such Series 20102003-6 3 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102003-6 3 Interest Period, (34) thirdfourth, to the Trustee, an amount equal to the Series 20102003-6 3 Percentage as of the beginning of such Series 20102003-6 3 Interest Period of the Trustee’s 's fees for such Series 20102003-6 3 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102003-6 3 Percentage as of the beginning of such Series 20102003-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-6 3 Interest Period, (6) sixth, to the Series 20102003-6 Reserve Account3 Interest Rate Swap Counterparty, an amount equal to the sum of (x) the Class R Monthly Interest with respect to any amounts due and owing under the Series 20102003-6 3 Interest Period ended on the day preceding such Distribution Date and Rate Swap (yother than any Fixed Rate Payment) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”"EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent from the Series 20102003-6 3 Collection Account and deposited in the Series 20102003-6 3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102003-6 3 Rapid Amortization Period, (1) first, to the Series 2003-3 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-3 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102003-6 3 Percentage as of the beginning of such Series 20102003-6 3 Interest Period of the Trustee’s 's fees for such Series 20102003-6 3 Interest Period, (24) secondfourth, to the Administrator, an amount equal to the Series 20102003-6 3 Percentage as of the beginning of such Series 20102003-6 3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF AFC-II for such Series 20102003-6 3 Interest Period, (35) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourthfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102003-6 3 Percentage as of the beginning of such Series 20102003-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-6 3 Interest Period, (56) fifthsixth, to so long as the Series 20102003-6 Reserve Account3 Invested Amount is greater than the Series 2003-3 Principal Allocations on such Distribution Date, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102003-6 Interest Period ended 3 Invested Amount over the Series 2003-3 Principal Allocations on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be treated as Principal CollectionsCollections and (7) seventh, to the Series 2003-3 Interest Rate Swap Counterparty, any amounts due and owing under the Series 2003-3 Interest Rate Swap (other than any Fixed Rate Payment).
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102011-6 3 Accrued Interest Account and the Series 2011-3 Distribution Account, plus the amount, if any, drawn under the Series 2011-3 Letters of Credit and/or withdrawn from the Series 2011-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2011-3 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102011-6 3 Revolving Period or any the Series 20102011-6 3 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102011-6 3 Percentage as of the beginning of such the Series 20102011-6 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102011-6 3 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102011-6 3 Percentage as of the beginning of such Series 20102011-6 3 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102011-6 3 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2011-3 Percentage as of the beginning of such Series 2011-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-3 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2011-3 Collection Account and deposited in the Series 2011-3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2011-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102011-6 3 Percentage as of the beginning of such Series 2011-3 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2011-3 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2011-3 Percentage as of the beginning of such Series 2011-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2011-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102011-6 3 Percentage as of the beginning of such Series 20102011-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102011-6 3 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102011-6 Reserve Account3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102011-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 3 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.3(a), if any, of the amounts available from the Series 20102003-6 2 Accrued Interest Account plus the amount, if any, drawn under the Series 2003-2 Letters of Credit and/or withdrawn from the Series 2003-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2003-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102003-6 2 Revolving Period or any a Series 20102003-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve AccountSurety Provider, in an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Surety Provider Fee for the related Series 20102003-6 2 Interest Period ended on the day preceding such Distribution Date and and, without duplication, (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Administrator, an amount equal to the Series 20102003-6 2 Percentage as of the beginning of such Series 20102003-6 2 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102003-6 2 Interest Period, (3) third, to the Trustee, an amount equal to the Series 20102003-6 2 Percentage as of the beginning of such Series 20102003-6 2 Interest Period of the Trustee’s 's fees for such Series 20102003-6 2 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102003-6 2 Percentage as of the beginning of such Series 20102003-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-6 2 Interest Period, Period and (5) fifth, the balance, if any ("EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent from the Series 2003-2 Collection Account and deposited in the Series 2003-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2003-2 Rapid Amortization Period, (1) first, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 20102003-6 Reserve Account2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Trustee, an amount equal to the sum Series 2003-2 Percentage as of the beginning of such Series 2003-2 Interest Period of the Trustee's fees for such Series 2003-2 Interest Period, (x3) third, to the Class R Monthly Interest with respect Administrator, an amount equal to the Series 20102003-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall 2 Percentage as of the immediately preceding Distribution Datebeginning of such Series 2003-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2003-2 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2003-2 Percentage as of the beginning of such Series 2003-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2003-2 Interest Period and (65) sixthfifth, the balance, if any, shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)), if any, of the amounts available from the Series 20102002-6 2 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 20102002-6 2 Revolving Period or any Series 2010-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102002-6 2 Percentage as of the beginning of such Series 20102002-6 2 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102002-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102002-6 2 Percentage as of the beginning of such Series 20102002-6 2 Interest Period of the Trustee’s 's fees for such Series 20102002-6 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 2 Interest Period, (3) third, to the Series 20102002-6 2 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102002-6 2 Percentage as of the beginning of such Series 20102002-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102002-6 2 Interest Period, Period and (5) fifth, the balance, if any ("EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent from the Series 2002-2 Collection Account and deposited in the Series 2002-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2002-2 Amortization Period, (1) first, to the Series 2010-6 Reserve AccountTrustee, an amount equal to the sum Series 2002-2 Percentage as of the beginning of such Series 2002-2 Interest Period of the Trustee's fees for such Series 2002-2 Interest Period, (x2) second, to the Class R Monthly Interest with respect Administrator, an amount equal to the Series 20102002-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall 2 Percentage as of the immediately preceding beginning of such Series 2002-2 Interest Period of the portion of the Monthly Administration Fee (as specified in -43- clause (iii) of the definition thereof) payable by AFC-II for such Series 2002-2 Interest Period, (3) third, to the Series 2002-2 Distribution DateAccount to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2002-2 Percentage as of the beginning of such Series 2002-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2002-2 Interest Period and (65) sixthfifth, the balance, if any, shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or the fourth Business Day prior to the second Business Day preceding each Distribution Payment Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay on such Payment Date the balance (after making the payments required in Section 3.3(a)2.4 of this Series Supplement), if any, of the amounts available from the Series 2010-6 1 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 2010-6 Revolving Period or any Series 2010-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to pay the Administrator, in an amount equal to the Series 2010-6 1 Percentage as of the beginning of such the Series 2010-6 1 Interest Period of ending on the portion day preceding such Payment Date of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 2010-6 1 Interest Period, ;
(3ii) thirdsecond, to pay the Trustee, in an amount equal to the Series 2010-6 1 Percentage as of the beginning of such the Series 2010-6 1 Interest Period ending on the day preceding such Payment Date of the Trustee’s fees for such Series 2010-6 1 Interest Period;
(iii) third, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifthon a pro rata basis, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) to the Persons to whom such amounts are owed, in an amount equal to the Series 2010-6 1 Percentage as of the beginning of such the Series 2010-6 1 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 2010-6 1 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4iv) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be withdrawn from the Series 2010-1 Accrued Interest Account by the Trustee and (A) during the Series 2010-1 Revolving Period, deposited into the Series 2010-1 Excess Collection Account or (B) during the Series 2010-1 Controlled Amortization Period or the Series 2010-1 Rapid Amortization Period, deposited into the Series 2010-1 Collection Account and treated as Principal Collections.
Appears in 1 contract
BALANCE. On or the fourth Business Day prior to the second Business Day preceding each Distribution Payment Date, the Series 2010-2 Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Series 2010-2 Administration Agreement to pay pay, on such Payment Date, the balance (after making the payments required in Section 3.3(a)9.3 of this Series Supplement), if any, of the amounts available from the Series 2010-6 2 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 2010-6 Revolving Period or any Series 2010-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the 2 Administrator, in an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the 2 Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 2010-6 2 Interest Period, ;
(3ii) thirdsecond, to the Trustee, in an amount equal to the Series 2010-6 2 Percentage as of the beginning of such the Series 2010-6 2 Interest Period ending on the day preceding such Payment Date of the Trustee’s fees for such Series 2010-6 2 Interest Period;
(iii) third, on a pro rata basis, to pay any Indenture Carrying Charges (4other than any Indenture Carrying Charges relating solely to one or more Series of Notes and/or Other Segregated Series of Notes) fourthto the Persons to whom such amounts are owed, in an amount equal to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any 2 Percentage as of the beginning of the Series 2010-2 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above (which, for the avoidance of doubt, shall include the Indenture Carrying Charges owed to the Series 2010-2 Noteholders)) for such Series 2010-2 Interest Period;
(iv) fourth, on a pro rata basis, to pay any Series 2010-2 Carrying Charges (other than Indenture Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) owed for such Series 2010-6 2 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5v) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be withdrawn from the Series 2010-2 Accrued Interest Account by the Trustee and (A) during the Series 2010-2 Revolving Period, deposited into the Series 2010-2 Excess Collection Account or (B) during the Series 2010-2 Controlled Amortization Period or the Series 2010-2 Rapid Amortization Period, deposited into the Series 2010-2 Collection Account and treated as Series 2010-2 Principal Collections; provided, that, it is understood and agreed that any payments of Indenture Carrying Charges made pursuant to clauses (ii) and (iii) above with respect to any Payment Date shall be deemed made prior to the determination and payment of any “Indenture Carrying Charges” (as defined in the applicable Series Supplement) pursuant to any Series Supplement relating to a Series of Notes in respect of such Payment Date.
Appears in 1 contract
Sources: Supplement to Base Indenture (Hertz Global Holdings Inc)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102007-6 2 Accrued Interest Account and the Series 2007-2 Distribution Account, plus the amount, if any, drawn under the Series 2007-2 Letters of Credit and/or withdrawn from the Series 2007-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2007-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102007-6 2 Revolving Period or any the Series 20102007-6 2 Controlled Amortization Period, (1) first, to the each Series 20102007-6 Reserve Account2 Interest Rate Swap Counterparty, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Fixed Rate Payment for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date due and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)owing to such Series 2007-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2007-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102007-6 2 Percentage as of the beginning of such the Series 20102007-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102007-6 2 Interest Period, (34) thirdfourth, to the Trustee, an amount equal to the Series 20102007-6 2 Percentage as of the beginning of such Series 20102007-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102007-6 2 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102007-6 2 Percentage as of the beginning of such Series 20102007-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102007-6 2 Interest Period, (6) sixth, to each Series 2007-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 20102007-6 Reserve Account, an amount equal to the sum of 2 Interest Rate Swap (xother than any Fixed Rate Payment) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102007-6 2 Collection Account and deposited in the Series 20102007-6 2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102007-6 2 Rapid Amortization Period, (1) first, to each Series 2007-2 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2007-2 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2007-2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102007-6 2 Percentage as of the beginning of such Series 20102007-6 2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102007-6 2 Interest Period, (24) secondfourth, to the Administrator, an amount equal to the Series 20102007-6 2 Percentage as of the beginning of such Series 20102007-6 2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102007-6 2 Interest Period, (35) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourthfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102007-6 2 Percentage as of the beginning of such Series 20102007-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102007-6 2 Interest Period, (56) fifthsixth, to so long as the Series 20102007-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102007-6 Interest Period ended on 2 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2007-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2007-2 Interest Rate Swap (other than any Fixed Rate Payment).
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102020-6 1 Accrued Interest Account and the Series 2020-1 Distribution Account, plus the amount, if any, drawn under the Series 2020-1 Letters of Credit and/or withdrawn from the Series 2020-1 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2020-1 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102020-6 1 Revolving Period or any the Series 20102020-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102020-6 1 Percentage as of the beginning of such the Series 20102020-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102020-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102020-6 1 Percentage as of the beginning of such Series 20102020-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102020-6 1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2020-1 Percentage as of the beginning of such Series 2020-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2020-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2020-1 Collection Account and deposited in the Series 2020-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2020-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102020-6 1 Percentage as of the beginning of such Series 2020-1 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2020-1 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2020-1 Percentage as of the beginning of such Series 2020-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2020-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102020-6 1 Percentage as of the beginning of such Series 20102020-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102020-6 1 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102020-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102020-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 1 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2020 1 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102014-6 2 Accrued Interest Account and the Series 2014-2 Distribution Account, plus the amount, if any, drawn under the Series 2014-2 Letters of Credit and/or withdrawn from the Series 2014-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2014-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102014-6 2 Revolving Period or any the Series 20102014-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102014-6 2 Percentage as of the beginning of such the Series 20102014-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102014-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102014-6 2 Percentage as of the beginning of such Series 20102014-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102014-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2014-2 Percentage as of the beginning of such Series 2014-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2014-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2014-2 Collection Account and deposited in the Series 2014-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2014-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102014-6 2 Percentage as of the beginning of such Series 2014-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2014-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2014-2 Percentage as of the beginning of such Series 2014-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2014-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102014-6 2 Percentage as of the beginning of such Series 20102014-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102014-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102014-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102014-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 4 Accrued Interest Account and the Series 2023-4 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-4 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-4 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 4 Revolving Period or any the Series 20102023-6 4 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such the Series 20102023-6 4 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 4 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such Series 20102023-6 4 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 4 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-4 Percentage as of the beginning of such Series 2023-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-4 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-4 Collection Account and deposited in the Series 2023-4 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2023-4 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such Series 2023-4 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2023-4 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2023-4 Percentage as of the beginning of such Series 2023-4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-4 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such Series 20102023-6 4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 4 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102023-6 Reserve Account4 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 4 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102022-6 5 Accrued Interest Account and the Series 2022-5 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2022-5 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2022-5 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102022-6 5 Revolving Period or any the Series 20102022-6 5 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102022-6 5 Percentage as of the beginning of such the Series 20102022-6 5 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102022-6 5 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102022-6 5 Percentage as of the beginning of such Series 20102022-6 5 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102022-6 5 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2022-5 Percentage as of the beginning of such Series 2022-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2022-5 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2022-5 Collection Account and deposited in the Series 2022-5 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2022-5 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102022-6 5 Percentage as of the beginning of such Series 2022-5 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2022-5 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2022-5 Percentage as of the beginning of such Series 2022-5 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2022-5 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102022-6 5 Percentage as of the beginning of such Series 20102022-6 5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102022-6 5 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102022-6 Reserve Account5 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102022-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 5 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102024-6 2 Accrued Interest Account and the Series 2024-2 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2024-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2024-2 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102024-6 2 Revolving Period or any the Series 20102024-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102024-6 2 Percentage as of the beginning of such the Series 20102024-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102024-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102024-6 2 Percentage as of the beginning of such Series 20102024-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102024-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2024-2 Percentage as of the beginning of such Series 2024-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2024-2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2024-2 Collection Account and deposited in the Series 2024-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2024-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102024-6 2 Percentage as of the beginning of such Series 2024-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2024-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2024-2 Percentage as of the beginning of such Series 2024-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2024-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102024-6 2 Percentage as of the beginning of such Series 20102024-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102024-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102024-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102024-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Second Amended and Restated Series 2024 2 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 2010-6 3 Accrued Interest Account and the Series 2010-3 Distribution Account, plus the amount, if any, drawn under the Series 2010-3 Letters of Credit and/or withdrawn from the Series 2010-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2010-3 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 2010-6 3 Revolving Period or any the Series 2010-6 3 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 2010-6 3 Percentage as of the beginning of such the Series 2010-6 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 2010-6 3 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 2010-6 3 Percentage as of the beginning of such Series 2010-6 3 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2010-6 3 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-3 Percentage as of the beginning of such Series 2010-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-3 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-3 Collection Account and deposited in the Series 2010-3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 3 Percentage as of the beginning of such Series 2010-3 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2010-3 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2010-3 Percentage as of the beginning of such Series 2010-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 3 Percentage as of the beginning of such Series 2010-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 3 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 2010-6 Reserve Account3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 3 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.3(a) of this Supplement), if any, of the amounts available from Series 2000-3 Interest Rate Cap Proceeds and Interest Collections allocated to holders of the Series 20102000-6 Accrued Interest Account 3 Notes since the preceding Distribution Date as follows:
(i) on each Distribution Date during the Series 20102000-6 3 Revolving Period or any the Series 20102000-6 3 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve AccountSurety Provider, in an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Surety Provider Fee for the related Series 20102000-6 3 Interest Period ended on the day preceding such Distribution Date and and, without duplication, (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Administrator, an amount equal to the Series 20102000-6 3 Percentage as of the beginning of such Series 20102000-6 3 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102000-6 3 Interest Period, (3) third, to the Trustee, an amount equal to the Series 20102000-6 3 Percentage as of the beginning of such Series 20102000-6 3 Interest Period of the Trustee’s 's fees for such Series 20102000-6 3 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102000-6 3 Percentage as of the beginning of such Series 20102000-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102000-6 3 Interest Period, Period and (5) fifth, the balance, if any ("Excess Collections"), shall be withdrawn by the Paying Agent from the Series 2000-3 Collection Account and deposited in the Series 2000-3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2000-3 Rapid Amortization Period, (1) first, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 20102000-6 Reserve Account3 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Trustee, an amount equal to the sum Series 2000-3 Percentage as of the beginning of such Series 2000-3 Interest Period of the Trustee's fees for such Series 2000-3 Interest Period, (x3) third, to the Class R Monthly Interest with respect Administrator, an amount equal to the Series 20102000-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall 3 Percentage as of the immediately preceding Distribution Datebeginning of such Series 2000-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2000-3 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2000-3 Percentage as of the beginning of such Series 2000-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2000-3 Interest Period and (65) sixthfifth, the balance, if any, shall constitute Excess Collections and shall be treated as Principal Collectionswithdrawn by the Paying Agent from the Series 2000-3 Collection Account and deposited in the Series 2000-3 Excess Collection Account.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102005-6 4 Accrued Interest Account and the Series 2005-4 Distribution Account, plus the amount, if any, drawn under the Series 2005-4 Letters of Credit and/or withdrawn from the Series 2005-4 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2005-4 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102005-6 4 Revolving Period or any a Series 20102005-6 4 Controlled Amortization Period, (1) first, to the each Series 20102005-6 Reserve Account4 Interest Rate Swap Counterparty, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Fixed Rate Payment for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date due and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)owing to such Series 2005-4 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-4 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102005-6 4 Percentage as of the beginning of such the Series 20102005-6 4 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102005-6 4 Interest Period, (34) thirdfourth, to the Trustee, an amount equal to the Series 20102005-6 4 Percentage as of the beginning of such Series 20102005-6 4 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102005-6 4 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102005-6 4 Percentage as of the beginning of such Series 20102005-6 4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102005-6 4 Interest Period, (6) sixth, to each Series 2005-4 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 20102005-6 Reserve Account, an amount equal to the sum of 4 Interest Rate Swap (xother than any Fixed Rate Payment) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102005-6 4 Collection Account and deposited in the Series 20102005-6 4 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102005-6 4 Rapid Amortization Period, (1) first, to each Series 2005-4 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2005-4 Interest Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-4 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102005-6 4 Percentage as of the beginning of such Series 20102005-6 4 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102005-6 4 Interest Period, (24) secondfourth, to the Administrator, an amount equal to the Series 20102005-6 4 Percentage as of the beginning of such Series 20102005-6 4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF CRCF for such Series 20102005-6 4 Interest Period, (35) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourthfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102005-6 4 Percentage as of the beginning of such Series 20102005-6 4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102005-6 4 Interest Period, (56) fifthsixth, to so long as the Series 20102005-6 Reserve Account4 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102005-6 Interest Period ended on 4 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2005-4 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2005-4 Interest Rate Swap (other than any Fixed Rate Payment).
Appears in 1 contract
Sources: Series Supplement (Cendant Corp)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.3(a) of this Supplement), if any, of the amounts available from Series 2001-1 Interest Rate Cap Proceeds and Interest Collections allocated to holders of the Series 20102001-6 Accrued Interest Account 1 Notes since the preceding Distribution Date as follows:
(i) on each Distribution Date during the Series 20102001-6 1 Revolving Period or any the Series 20102001-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve AccountSurety Provider, in an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Surety Provider Fee for the related Series 20102001-6 1 Interest Period ended on the day preceding such Distribution Date and and, without duplication, (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Administrator, an amount equal to the Series 20102001-6 1 Percentage as of the beginning of such Series 20102001-6 1 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102001-6 1 Interest Period, (3) third, to the Trustee, an amount equal to the Series 20102001-6 1 Percentage as of the beginning of such Series 20102001-6 1 Interest Period of the Trustee’s 's fees for such Series 20102001-6 1 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102001-6 1 Percentage as of the beginning of such Series 20102001-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102001-6 1 Interest Period, Period and (5) fifth, the balance, if any ("Excess Collections"), shall be withdrawn by the Paying Agent from the Series 2001-1 Collection Account and deposited in the Series 2001-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2001-1 Rapid Amortization Period, (1) first, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 20102001-6 Reserve Account1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Trustee, an amount equal to the sum Series 2001-1 Percentage as of the beginning of such Series 2001-1 Interest Period of the Trustee's fees for such Series 2001-1 Interest Period, (x3) third, to the Class R Monthly Interest with respect Administrator, an amount equal to the Series 20102001-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall 1 Percentage as of the immediately preceding Distribution Datebeginning of such Series 2001-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2001-1 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2001-1 Percentage as of the beginning of such Series 2001-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2001-1 Interest Period and (65) sixthfifth, the balance, if any, shall constitute Excess Collections and shall be treated as Principal Collectionswithdrawn by the Paying Agent from the Series 2001-1 Collection Account and deposited in the Series 2001-1 Excess Collection Account.
Appears in 1 contract
Sources: Amended and Restated Series 2001 1 Supplement (Avis Group Holdings Inc)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)), if any, of the amounts available from the Series 20102002-6 2 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 20102002-6 2 Revolving Period or any Series 2010-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102002-6 2 -43- Percentage as of the beginning of such Series 20102002-6 2 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102002-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102002-6 2 Percentage as of the beginning of such Series 20102002-6 2 Interest Period of the Trustee’s 's fees for such Series 20102002-6 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 2 Interest Period, (3) third, to the Series 20102002-6 2 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102002-6 2 Percentage as of the beginning of such Series 20102002-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102002-6 2 Interest Period, Period and (5) fifth, the balance, if any ("EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent from the Series 2002-2 Collection Account and deposited in the Series 2002-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2002-2 Amortization Period, (1) first, to the Series 2010-6 Reserve AccountTrustee, an amount equal to the sum Series 2002-2 Percentage as of the beginning of such Series 2002-2 Interest Period of the Trustee's fees for such Series 2002-2 Interest Period, (x2) second, to the Class R Monthly Interest with respect Administrator, an amount equal to the Series 20102002-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall 2 Percentage as of the immediately preceding beginning of such Series 2002-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2002-2 Interest Period, (3) third, to the Series 2002-2 Distribution DateAccount to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2002-2 Percentage as of the beginning of such Series 2002-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2002-2 Interest Period and (65) sixthfifth, the balance, if any, shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2002 2 Supplement (Avis Group Holdings Inc)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 4 Accrued Interest Account and the Series 2023-4 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-4 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-4 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 4 Revolving Period or any the Series 20102023-6 4 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such the Series 20102023-6 4 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 4 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such Series 20102023-6 4 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 4 Interest Period, (43) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such Series 20102023-6 4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 4 Interest Period ended on the day preceding such Distribution Date and (y4) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventhfourth, the balance, if any (“Excess Collections”)any, shall be withdrawn by the Paying Agent from the Series 20102023-6 4 Collection Account and deposited in the Series 20102023-6 4 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102023-6 4 Rapid Amortization Period, (1) first, to the Series 2023-4 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2023-4 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such Series 20102023-6 4 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 4 Interest Period, (23) secondthird, to the Administrator, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such Series 20102023-6 4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102023-6 4 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 4 Percentage as of the beginning of such Series 20102023-6 4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 4 Interest Period, Period and (5) fifth, to so long as the Series 20102023-6 Reserve Account4 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on 4 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2023 4 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 1 Accrued Interest Account and the Series 2023-1 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-1 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-1 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 1 Revolving Period or any the Series 20102023-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 1 Percentage as of the beginning of such the Series 20102023-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 1 Percentage as of the beginning of such Series 20102023-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 1 Interest Period, (43) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 1 Percentage as of the beginning of such Series 20102023-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 1 Interest Period ended on the day preceding such Distribution Date and (y4) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventhfourth, the balance, if any (“Excess Collections”)any, shall be withdrawn by the Paying Agent from the Series 20102023-6 1 Collection Account and deposited in the Series 20102023-6 1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102023-6 1 Rapid Amortization Period, (1) first, to the Series 2023-1 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2023-1 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 20102023-6 1 Percentage as of the beginning of such Series 20102023-6 1 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 1 Interest Period, (23) secondthird, to the Administrator, an amount equal to the Series 20102023-6 1 Percentage as of the beginning of such Series 20102023-6 1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102023-6 1 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 1 Percentage as of the beginning of such Series 20102023-6 1 Interest Period of such Carrying Charges (other than Carrying Charges AMERICAS 128869492 45 provided for above) for such Series 20102023-6 1 Interest Period, Period and (5) fifth, to so long as the Series 20102023-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on 1 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2023 1 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 2 Accrued Interest Account and the Series 2023-2 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 2 Revolving Period or any the Series 20102023-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 2 Percentage as of the beginning of such the Series 20102023-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 2 Percentage as of the beginning of such Series 20102023-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-2 Percentage as of the beginning of such Series 2023-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-2 Collection Account and deposited in the Series 2023-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2023-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102023-6 2 Percentage as of the beginning of such Series 2023-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2023-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2023-2 Percentage as of the beginning of such Series 2023-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 2 Percentage as of the beginning of such Series 20102023-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102023-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 8 Accrued Interest Account and the Series 2023-8 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-8 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-8 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 8 Revolving Period or any the Series 20102023-6 8 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 8 Percentage as of the beginning of such the Series 20102023-6 8 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 8 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 8 Percentage as of the beginning of such Series 20102023-6 8 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 8 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-8 Percentage as of the beginning of such Series 2023-8 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-8 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-8 Collection Account and deposited in the Series 2023-8 Excess Collection Account; and AMERICAS 130188170 44
(ii) on each Distribution Date during the Series 2023-8 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102023-6 8 Percentage as of the beginning of such Series 2023-8 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2023-8 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2023-8 Percentage as of the beginning of such Series 2023-8 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-8 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 8 Percentage as of the beginning of such Series 20102023-6 8 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 8 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102023-6 Reserve Account8 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 8 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Second Amended and Restated Series 2023 8 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing 44 pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102024-6 2 Accrued Interest Account and the Series 2024-2 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2024-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2024-2 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102024-6 2 Revolving Period or any the Series 20102024-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102024-6 2 Percentage as of the beginning of such the Series 20102024-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102024-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102024-6 2 Percentage as of the beginning of such Series 20102024-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102024-6 2 Interest Period, (43) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102024-6 2 Percentage as of the beginning of such Series 20102024-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102024-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 2 Interest Period ended on the day preceding such Distribution Date and (y4) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventhfourth, the balance, if any (“Excess Collections”)any, shall be withdrawn by the Paying Agent from the Series 20102024-6 2 Collection Account and deposited in the Series 20102024-6 2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102024-6 2 Rapid Amortization Period, (1) first, to the Series 2024-2 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2024-2 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 20102024-6 2 Percentage as of the beginning of such Series 20102024-6 2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102024-6 2 Interest Period, (23) secondthird, to the Administrator, an amount equal to the Series 20102024-6 2 Percentage as of the beginning of such Series 20102024-6 2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102024-6 2 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102024-6 2 Percentage as of the beginning of such Series 20102024-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102024-6 2 Interest Period, Period and (5) fifth, to so long as the Series 20102024-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102024-6 Interest Period ended on 2 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2024 2 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102019-6 2 Accrued Interest Account and the Series 2019-2 Distribution Account, plus the amount, if any, drawn under the Series 2019-2 Letters of Credit and/or withdrawn from the Series 2019-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2019-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102019-6 2 Revolving Period or any the Series 20102019-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102019-6 2 Percentage as of the beginning of such the Series 20102019-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102019-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102019-6 2 Percentage as of the beginning of such Series 20102019-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102019-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2019-2 Percentage as of the beginning of such Series 2019-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2019-2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2019-2 Collection Account and deposited in the Series 2019-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2019-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102019-6 2 Percentage as of the beginning of such Series 2019-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2019-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2019-2 Percentage as of the beginning of such Series 2019-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2019-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102019-6 2 Percentage as of the beginning of such Series 20102019-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102019-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102019-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102019-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 7 Accrued Interest Account and the Series 2023-7 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-7 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-7 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 7 Revolving Period or any the Series 20102023-6 7 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 7 Percentage as of the beginning of such the Series 20102023-6 7 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 7 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 7 Percentage as of the beginning of such Series 20102023-6 7 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 7 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-7 Percentage as of the beginning of such Series 2023-7 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-7 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-7 Collection Account and deposited in the Series 2023-7 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2023-7 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102023-6 7 Percentage as of the beginning of such Series 2023-7 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2023-7 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2023-7 Percentage as of the beginning of such Series 2023-7 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-7 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 7 Percentage as of the beginning of such Series 20102023-6 7 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 7 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102023-6 Reserve Account7 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 7 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102019-6 2 Accrued Interest Account and the Series 2019-2 Distribution Account, plus the amount, if any, drawn under the Series 2019-2 Letters of Credit and/or withdrawn from the Series 2019-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2019-2 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102019-6 2 Revolving Period or any the Series 20102019-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102019-6 2 Percentage as of the beginning of such the Series 20102019-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102019-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102019-6 2 Percentage as of the beginning of such Series 20102019-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102019-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2019-2 Percentage as of the beginning of such Series 2019-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2019-2 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2019-2 Collection Account and deposited in the Series 2019-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2019-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102019-6 2 Percentage as of the beginning of such Series 2019-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2019-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2019-2 Percentage as of the beginning of such Series 2019-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2019-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102019-6 2 Percentage as of the beginning of such Series 20102019-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102019-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102019-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102019-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2019 2 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 8 Accrued Interest Account and the Series 2023-8 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-8 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-8 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 8 Revolving Period or any the Series 20102023-6 8 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 8 Percentage as of the beginning of such the Series 20102023-6 8 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 8 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 8 Percentage as of the beginning of such Series 20102023-6 8 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 8 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-8 Percentage as of the beginning of such Series 2023-8 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-8 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-8 Collection Account and deposited in the Series 2023-8 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2023-8 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102023-6 8 Percentage as of the beginning of such Series 2023-8 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2023-8 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2023-8 Percentage as of the beginning of such Series 2023-8 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-8 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 8 Percentage as of the beginning of such Series 20102023-6 8 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 8 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102023-6 Reserve Account8 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 8 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)), if any, of the amounts available from the Series 20102004-6 1 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 20102004-6 1 Revolving Period or any the Series 20102004-6 1 Controlled Amortization Period, (1) first, to the each Series 20102004-6 Reserve Account1 Interest Rate Hedge Counterparty, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Fixed Rate Payment for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date due and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)owing to such Series 2004-1 Interest Rate Hedge Counterparty, (2) second, to the Administrator, an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such Series 20102004-6 1 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102004-6 1 Interest Period, (3) third, to the Trustee, an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such Series 20102004-6 1 Interest Period of the Trustee’s fees for such Series 20102004-6 1 Interest Period, (4) fourth, to the Series 20102004-6 1 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such Series 20102004-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102004-6 1 Interest Period, (6) sixth, to each Series 2004-1 Interest Rate Hedge Counterparty, any amounts due and owing under the applicable Series 20102004-6 Reserve Account, an amount equal to the sum of 1 Interest Rate Hedge (xother than any Fixed Rate Payment) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102004-6 1 Collection Account and deposited in the Series 20102004-6 1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102004-6 1 Rapid Amortization Period, (1) first, to each Series 2004-1 Interest Rate Hedge Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2004-1 Interest Rate Hedge Counterparty, (2) second, to the Trustee, an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such Series 20102004-6 1 Interest Period of the Trustee’s fees for such Series 20102004-6 1 Interest Period, (23) secondthird, to the Administrator, an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such Series 20102004-6 1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF CRCF for such Series 20102004-6 1 Interest Period, (34) thirdfourth, to the Series 20102004-6 1 Distribution Account to pay any Article VII Costs, (45) fourthfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such Series 20102004-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102004-6 1 Interest Period, (56) fifthsixth, to so long as the Series 20102004-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102004-6 Interest Period ended on 1 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2004-1 Interest Rate Hedge Counterparty, any amounts due and owing under the applicable Series 2004-1 Interest Rate Hedge (other than any Fixed Rate Payment).
Appears in 1 contract
Sources: Second Amended and Restated Series 2004 1 Supplement (Cendant Corp)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 2010-6 2 Accrued Interest Account and the Series 2010-2 Distribution Account, plus the amount, if any, drawn under the Series 2010-2 Letters of Credit and/or withdrawn from the Series 2010-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2010-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 2010-6 2 Revolving Period or any the Series 2010-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 2010-6 2 Percentage as of the beginning of such the Series 2010-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 2010-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 2010-6 2 Percentage as of the beginning of such Series 2010-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 2010-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-2 Percentage as of the beginning of such Series 2010-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-2 Collection Account and deposited in the Series 2010-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 2 Percentage as of the beginning of such Series 2010-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2010-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2010-2 Percentage as of the beginning of such Series 2010-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 2 Percentage as of the beginning of such Series 2010-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 2010-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or the fourth Business Day prior to the second Business Day preceding each Distribution Payment Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay pay, on such Payment Date, the balance (after making the payments required in Section 3.3(a)3.4 of this Series Supplement), if any, of the amounts available from the Series 20102005-6 3 Accrued Interest Account plus the amount, if any, withdrawn from the Class A Reserve Account pursuant to Section 3.3(d)(i) of this Series Supplement plus the amount, if any, withdrawn from the Class B Reserve Account pursuant to Section 3.3(d)(ii) of this Series Supplement plus the amount, if any, drawn under the Class A Letters of Credit and/or withdrawn from the Class A Cash Collateral Accounts pursuant to Section 3.3(e)(I) of this Series Supplement plus the amount, if any, drawn under the Class B Letters of Credit and/or withdrawn from the Class B Cash Collateral Accounts pursuant to Section 3.3(e)(II) of this Series Supplement as follows:
(i) first, on a pro rata basis to each Distribution Interest Rate Hedge Provider, in an amount equal to the portion of the Monthly Hedge Payment for such Payment Date during the Series 2010-6 Revolving Period or any Series 2010-6 Controlled Amortization Period, payable to such Interest Rate Hedge Provider;
(1ii) firstsecond, to the Series 2010-6 Reserve AccountInsurer, in an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Insurer Fee for the Series 20102005-6 3 Interest Period ended ending on the day preceding such Distribution Payment Date and (y) any Contingent other Insurer Reimbursement Amounts then due and payable to the Insurer (excluding therefrom any amounts included in Class A Monthly Funding Costs Shortfall as Interest for such Series 2005-3 Interest Period), provided that during the continuance of an Insurer Default, no amounts in respect of the immediately preceding Distribution Date Insurer Fee shall be paid with the proceeds of a draw on a Series 2005-3 Letters of Credit or a withdrawal from a Series 2005-3 Cash Collateral Account;
(together with accrued interest thereon), (2iii) secondthird, to the Administrator, in an amount equal to the Series 20102005-6 3 Percentage as of the beginning of such the Series 20102005-6 3 Interest Period of ending on the portion day preceding such Payment Date of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102005-6 3 Interest Period, ;
(3iv) thirdfourth, to the Trustee, in an amount equal to the Series 20102005-6 3 Percentage as of the beginning of such the Series 20102005-6 3 Interest Period ending on the day preceding such Payment Date of the Trustee’s fees for such Series 20102005-6 3 Interest Period;
(v) fifth, on a pro rata basis, (4x) fourthto each Interest Rate Hedge Provider, in an amount equal to the Series 2010-6 Distribution Account any remaining amounts due and owing to such Interest Rate Hedge Provider and (y) to pay any Article VII Costs, (5) fifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for aboveabove and in the preceding clause (x)) to the Persons to whom such amounts are owed, in an amount equal to the Series 20102005-6 3 Percentage as of the beginning of such the Series 20102005-6 3 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 20102005-6 3 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6vi) sixth, the balance, if any, shall be withdrawn from the Series 2005-3 Accrued Interest Account by the Trustee and (A) during the Series 2005-3 Revolving Period, deposited into the Series 2005-3 Excess Collection Account or (B) during the Series 2005-3 Rapid Amortization Period, deposited into the Series 2005-3 Collection Account and treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series Supplement (Hertz Global Holdings Inc)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102011-6 3 Accrued Interest Account and the Series 2011-3 Distribution Account, plus the amount, if any, drawn under the Series 2011-3 Letters of Credit and/or withdrawn from the Series 2011-3 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2011-3 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102011-6 3 Revolving Period or any the Series 20102011-6 3 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102011-6 3 Percentage as of the beginning of such the Series 20102011-6 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102011-6 3 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102011-6 3 Percentage as of the beginning of such Series 20102011-6 3 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102011-6 3 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2011-3 Percentage as of the beginning of such Series 2011-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-3 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2011-3 Collection Account and deposited in the Series 2011-3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2011-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102011-6 3 Percentage as of the beginning of such Series 2011-3 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2011-3 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2011-3 Percentage as of the beginning of such Series 2011-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2011-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102011-6 3 Percentage as of the beginning of such Series 20102011-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102011-6 3 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102011-6 Reserve Account3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102011-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 3 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2011 3 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102024-6 3 Accrued Interest Account and the Series 2024-3 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2024-3 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2024-3 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102024-6 3 Revolving Period or any the Series 20102024-6 3 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102024-6 3 Percentage as of the beginning of such the Series 20102024-6 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102024-6 3 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102024-6 3 Percentage as of the beginning of such Series 20102024-6 3 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102024-6 3 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2024-3 Percentage as of the beginning of such Series 2024-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2024-3 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2024-3 Collection Account and deposited in the Series 2024-3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2024-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102024-6 3 Percentage as of the beginning of such Series 2024-3 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2024-3 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2024-3 Percentage as of the beginning of such Series 2024-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2024-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102024-6 3 Percentage as of the beginning of such Series 20102024-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102024-6 3 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102024-6 Reserve Account3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102024-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 3 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2024 3 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)), if any, of the amounts available from the Series 20102022-6 2 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 20102022-6 2 Revolving Period or any the Series 20102022-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102022-6 2 Percentage as of the beginning of such Series 20102022-6 2 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102022-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102022-6 2 Percentage as of the beginning of such Series 20102022-6 2 Interest Period of the Trustee’s fees for such Series 20102022-6 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 2 Interest Period, (3) third, to the Series 20102022-6 2 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102022-6 2 Percentage as of the beginning of such Series 20102022-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102022-6 2 Interest Period, (5) fifth, to the Series 20102022-6 2 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 20102022-6 2 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2022-2 Collection Account and deposited in the Series 2022-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2022-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2022-2 Percentage as of the beginning of such Series 2022-2 Interest Period of the Trustee’s fees for such Series 2022-2 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2022-2 Percentage as of the beginning of such Series 2022-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2022-2 Interest Period, (3) third, to the Series 2022-2 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2022-2 Percentage as of the beginning of such Series 2022-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2022-2 Interest Period, (5) fifth, to the Series 2022-2 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2022-2 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Business Day preceding each Distribution Date, the Administrator Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section Section 3.3(a)), if any, of the amounts available from the Series 20102008-6 1 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 20102008-6 1 Revolving Period or any Series 2010-6 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102008-6 1 Percentage as of the beginning of such Series 20102008-6 1 Interest Period of the portion portion of the Monthly Administration Fee payable payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102008-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102008-6 1 Percentage as of the beginning of such Series 20102008-6 1 Interest Period of the Trustee’s fees for such Series 20102008-6 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 1 Interest Period, (3) third, to the Series 20102008-6 1 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102008-6 1 Percentage as of the beginning of such Series 20102008-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102008-6 1 Interest Period, Period and (5) fifth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2008-1 Collection Account and deposited in the Series 2008-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2008-1 Amortization Period, (1) first, to the Series 2010-6 Reserve AccountTrustee, an amount equal to the sum Series 2008-1 Percentage as of the beginning of such Series 2008-1 Interest Period of the Trustee’s fees for such Series 2008-1 Interest Period, (x2) second, to the Class R Monthly Interest with respect Administrator, an amount equal to the Series 20102008-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall 1 Percentage as of the immediately preceding beginning of such Series 2008-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2008-1 Interest Period, (3) third, to the Series 2008-1 Distribution DateAccount to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2008-1 Percentage as of the beginning of such Series 2008-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2008-1 Interest Period and (65) sixthfifth, the balance, if any, shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 3 Accrued Interest Account and the Series 2023-3 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-3 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 3 Revolving Period or any the Series 20102023-6 3 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 3 Percentage as of the beginning of such the Series 20102023-6 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 3 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 3 Percentage as of the beginning of such Series 20102023-6 3 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 3 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-3 Percentage as of the beginning of such Series 2023-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-3 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-3 Collection Account and deposited in the Series 2023-3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2023-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102023-6 3 Percentage as of the beginning of such Series 2023-3 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2023-3 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2023-3 Percentage as of the beginning of such Series 2023-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 3 Percentage as of the beginning of such Series 20102023-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 3 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102023-6 Reserve Account3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 3 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 5 Accrued Interest Account and the Series 2023-5 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-5 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-5 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 5 Revolving Period or any the Series 20102023-6 5 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 5 Percentage as of the beginning of such the Series 20102023-6 5 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 5 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 5 Percentage as of the beginning of such Series 20102023-6 5 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 5 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-5 Percentage as of the beginning of such Series 2023-5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-5 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-5 Collection Account and deposited in the Series 2023-5 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2023-5 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102023-6 5 Percentage as of the beginning of such Series 2023-5 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2023-5 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2023-5 Percentage as of the beginning of such Series 2023-5 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-5 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 5 Percentage as of the beginning of such Series 20102023-6 5 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 5 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102023-6 Reserve Account5 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 5 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Second Amended and Restated Series 2023 5 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 1 Accrued Interest Account and the Series 2023-1 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-1 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 1 Revolving Period or any the Series 20102023-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 1 Percentage as of the beginning of such the Series 20102023-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 1 Percentage as of the beginning of such Series 20102023-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2023-1 Percentage as of the beginning of such Series 2023-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2023-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2023-1 Collection Account and deposited in the Series 2023-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2023-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102023-6 1 Percentage as of the beginning of such Series 2023-1 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2023-1 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2023-1 Percentage as of the beginning of such Series 2023-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2023-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 1 Percentage as of the beginning of such Series 20102023-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 1 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102023-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 1 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102020-6 1 Accrued Interest Account and the Series 2020-1 Distribution Account, plus the amount, if any, drawn under the Series 2020-1 Letters of Credit and/or withdrawn from the Series 2020-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2020-1 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102020-6 1 Revolving Period or any the Series 20102020-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102020-6 1 Percentage as of the beginning of such the Series 20102020-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102020-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102020-6 1 Percentage as of the beginning of such Series 20102020-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102020-6 1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2020-1 Percentage as of the beginning of such Series 2020-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2020-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2020-1 Collection Account and deposited in the Series 2020-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2020-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102020-6 1 Percentage as of the beginning of such Series 2020-1 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2020-1 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2020-1 Percentage as of the beginning of such Series 2020-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2020-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102020-6 1 Percentage as of the beginning of such Series 20102020-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102020-6 1 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102020-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102020-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 1 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102003-6 4 Accrued Interest Account and the Series 2003-4 Distribution Account, PLUS the amount, if any, drawn under the Series 2003-4 Letters of Credit and/or withdrawn from the Series 2003-4 Cash Collateral Account pursuant to Section 2.3(c) PLUS the amount, if any, withdrawn from the Series 2003-4 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102003-6 4 Revolving Period or any a Series 20102003-6 4 Controlled Amortization Period, (1) first, to the each Series 20102003-6 Reserve Account4 Interest Rate Swap Counterparty, an amount equal to the sum of (x) Fixed Rate Payment due and owing under the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups applicable Series 2003-4 Interest Rate Swap for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-4 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Administrator, an amount equal to the Series 20102003-6 4 Percentage as of the beginning of such Series 20102003-6 4 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102003-6 4 Interest Period, (34) thirdfourth, to the Trustee, an amount equal to the Series 20102003-6 4 Percentage as of the beginning of such Series 20102003-6 4 Interest Period of the Trustee’s 's fees for such Series 20102003-6 4 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010CONFORMED COPY 2003-6 4 Percentage as of the beginning of such Series 20102003-6 4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-6 4 Interest Period, (6) sixth, to each Series 2003-4 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 20102003-6 Reserve Account, an amount equal to the sum of 4 Interest Rate Swap (xother than any Fixed Rate Payment) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”"EXCESS COLLECTIONS"), shall be withdrawn by the Paying Agent from the Series 20102003-6 4 Collection Account and deposited in the Series 20102003-6 4 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102003-6 4 Rapid Amortization Period, (1) first, to each Series 2003-4 Interest Rate Swap Counterparty, an amount equal to the Fixed Rate Payment due and owing under the applicable Series 2003-4 Interest Rate Swap for such Distribution Date, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2003-4 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102003-6 4 Percentage as of the beginning of such Series 20102003-6 4 Interest Period of the Trustee’s 's fees for such Series 20102003-6 4 Interest Period, (24) secondfourth, to the Administrator, an amount equal to the Series 20102003-6 4 Percentage as of the beginning of such Series 20102003-6 4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF AFC-II for such Series 20102003-6 4 Interest Period, (35) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourthfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102003-6 4 Percentage as of the beginning of such Series 20102003-6 4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102003-6 4 Interest Period, (56) fifthsixth, to so long as the Series 20102003-6 Reserve Account4 Invested Amount is greater than the Series 2003-4 Principal Allocations on such Distribution Date, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102003-6 Interest Period ended 4 Invested Amount over the Series 2003-4 Principal Allocations on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2003-4 Interest Rate Swap Counterparty, any amounts due and owing under the applicable Series 2003-4 Interest Rate Swap (other than any Fixed Rate Payment).
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BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102019-6 3 Accrued Interest Account and the Series 2019-3 Distribution Account, plus the amount, if any, drawn under the Series 2019-3 Letters of Credit and/or withdrawn from the Series 2019-3 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2019-3 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102019-6 3 Revolving Period or any the Series 20102019-6 3 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102019-6 3 Percentage as of the beginning of such the Series 20102019-6 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102019-6 3 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102019-6 3 Percentage as of the beginning of such Series 20102019-6 3 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102019-6 3 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2019-3 Percentage as of the beginning of such Series 2019-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2019-3 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2019-3 Collection Account and deposited in the Series 2019-3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2019-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102019-6 3 Percentage as of the beginning of such Series 2019-3 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2019-3 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2019-3 Percentage as of the beginning of such Series 2019-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2019-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102019-6 3 Percentage as of the beginning of such Series 20102019-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102019-6 3 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102019-6 Reserve Account3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102019-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 3 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2019 3 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102015-6 1 Accrued Interest Account and the Series 2015-1 Distribution Account, plus the amount, if any, drawn under the Series 2015-1 Letters of Credit and/or withdrawn from the Series 2015-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2015-1 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102015-6 1 Revolving Period or any the Series 20102015-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102015-6 1 Percentage as of the beginning of such the Series 20102015-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102015-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102015-6 1 Percentage as of the beginning of such Series 20102015-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102015-6 1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2015-1 Percentage as of the beginning of such Series 2015-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2015-1 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2015-1 Collection Account and deposited in the Series 2015-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2015-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102015-6 1 Percentage as of the beginning of such Series 2015-1 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2015-1 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2015-1 Percentage as of the beginning of such Series 2015-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2015-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102015-6 1 Percentage as of the beginning of such Series 20102015-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102015-6 1 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102015-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102015-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 1 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102009-6 2 Accrued Interest Account and the Series 2009-2 Distribution Account, plus the amount, if any, drawn under the Series 2009-2 Letters of Credit and/or withdrawn from the Series 2009-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2009-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102009-6 2 Revolving Period or any the Series 20102009-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102009-6 2 Percentage as of the beginning of such the Series 20102009-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102009-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102009-6 2 Percentage as of the beginning of such Series 20102009-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102009-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2009-2 Percentage as of the beginning of such Series 2009-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2009-2 Interest Period, and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2009-2 Collection Account and deposited in the Series 2009-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2009-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102009-6 2 Percentage as of the beginning of such Series 2009-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2009-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2009-2 Percentage as of the beginning of such Series 2009-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2009-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102009-6 2 Percentage as of the beginning of such Series 20102009-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102009-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102009-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102009-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102026-6 1 Accrued Interest Account and the Series 2026-1 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2026-1 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2026-1 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102026-6 1 Revolving Period or any the Series 20102026-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102026-6 1 Percentage as of the beginning of such the Series 20102026-6 1 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102026-6 1 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102026-6 1 Percentage as of the beginning of such Series 20102026-6 1 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102026-6 1 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2026-1 Percentage as of the beginning of such Series 2026-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2026-1 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2026-1 Collection Account and deposited in the Series 2026-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2026-1 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102026-6 1 Percentage as of the beginning of such Series 2026-1 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2026-1 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2026-1 Percentage as of the beginning of such Series 2026-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2026-1 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102026-6 1 Percentage as of the beginning of such Series 20102026-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102026-6 1 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102026-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102026-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 1 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102019-6 3 Accrued Interest Account and the Series 2019-3 Distribution Account, plus the amount, if any, drawn under the Series 2019-3 Letters of Credit and/or withdrawn from the Series 2019-3 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2019-3 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102019-6 3 Revolving Period or any the Series 20102019-6 3 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102019-6 3 Percentage as of the beginning of such the Series 20102019-6 3 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102019-6 3 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102019-6 3 Percentage as of the beginning of such Series 20102019-6 3 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102019-6 3 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2019-3 Percentage as of the beginning of such Series 2019-3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2019-3 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2019-3 Collection Account and deposited in the Series 2019-3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2019-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102019-6 3 Percentage as of the beginning of such Series 2019-3 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2019-3 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2019-3 Percentage as of the beginning of such Series 2019-3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2019-3 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102019-6 3 Percentage as of the beginning of such Series 20102019-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102019-6 3 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102019-6 Reserve Account3 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102019-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 3 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or the fourth Business Day prior to the second Business Day preceding each Distribution Payment Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay pay, on such Payment Date, the balance (after making the payments required in Section 3.3(a)3.4 of this Series Supplement), if any, of the amounts available from the Series 20102005-6 4 Accrued Interest Account plus the amount, if any, withdrawn from the Class A Reserve Account pursuant to Section 3.3(d)(i) of this Series Supplement plus the amount, if any, withdrawn from the Class B Reserve Account pursuant to Section 3.3(d)(ii) of this Series Supplement plus the amount, if any, drawn under the Class A Letters of Credit and/or withdrawn from the Class A Cash Collateral Accounts pursuant to Section 3.3(e)(I) of this Series Supplement plus the amount, if any, drawn under the Class B Letters of Credit and/or withdrawn from the Class B Cash Collateral Accounts pursuant to Section 3.3(e)(II) of this Series Supplement as follows:
(i) first, on a pro rata basis to each Distribution Interest Rate Hedge Provider, in an amount equal to the portion of the Monthly Hedge Payment for such Payment Date during the Series 2010-6 Revolving Period or any Series 2010-6 Controlled Amortization Period, payable to such Interest Rate Hedge Provider;
(1ii) firstsecond, to the Series 2010-6 Reserve AccountInsurer, in an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Insurer Fee for the Series 20102005-6 4 Interest Period ended ending on the day preceding such Distribution Payment Date and (y) any Contingent other Insurer Reimbursement Amounts then due and payable to the Insurer (excluding therefrom any amounts included in Class A Monthly Funding Costs Shortfall as Interest for such Series 2005-4 Interest Period), provided that during the continuance of an Insurer Default, no amounts in respect of the immediately preceding Distribution Date Insurer Fee shall be paid with the proceeds of a draw on a Series 2005-4 Letters of Credit or a withdrawal from a Series 2005-4 Cash Collateral Account;
(together with accrued interest thereon), (2iii) secondthird, to the Administrator, in an amount equal to the Series 20102005-6 4 Percentage as of the beginning of such the Series 20102005-6 4 Interest Period of ending on the portion day preceding such Payment Date of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102005-6 4 Interest Period, ;
(3iv) thirdfourth, to the Trustee, in an amount equal to the Series 20102005-6 4 Percentage as of the beginning of such the Series 20102005-6 4 Interest Period ending on the day preceding such Payment Date of the Trustee’s fees for such Series 20102005-6 4 Interest Period;
(v) fifth, on a pro rata basis, (4x) fourthto each Interest Rate Hedge Provider, in an amount equal to the Series 2010-6 Distribution Account any remaining amounts due and owing to such Interest Rate Hedge Provider and (y) to pay any Article VII Costs, (5) fifth, to pay any Indenture Carrying Charges (other than Indenture Carrying Charges provided for aboveabove and in the preceding clause (x)) to the Persons to whom such amounts are owed, in an amount equal to the Series 20102005-6 4 Percentage as of the beginning of such the Series 20102005-6 4 Interest Period ending on the day preceding such Payment Date of such Indenture Carrying Charges (other than Indenture Carrying Charges provided for above) for such Series 20102005-6 4 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6vi) sixth, the balance, if any, shall be withdrawn from the Series 2005-4 Accrued Interest Account by the Trustee and (A) during the Series 2005-4 Revolving Period, deposited into the Series 2005-4 Excess Collection Account or (B) during the Series 2005-4 Rapid Amortization Period, deposited into the Series 2005-4 Collection Account and treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series Supplement (Hertz Global Holdings Inc)
BALANCE. On or prior to the second Business Day preceding each Distribution DateDate for the Series 2001-2 Notes of any Class, the Administrator shall instruct have instructed the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)) of this Supplement), if any, of the amounts available from Series 2001-2 Interest Rate Cap Proceeds and Interest Collections allocated to holders of the Series 20102001-6 Accrued Interest Account 2 Notes since the preceding Distribution Date related to the Series 2001-2 Notes of such Class as follows:
(i) on each Distribution Date during for the Series 20102001-6 Revolving Period or 2 Notes of any Class prior to the commencement of the Series 20102001-6 Controlled 2 Rapid Amortization Period, (1) first, PRO RATA, to the Auction Agent, the Auction Agent Fee payable in respect of the Series 20102001-6 Reserve Account2 Notes of such Class on such Distribution Date, and to the Broker-Dealer, the Broker-Dealer Fee payable in respect of the Series 2001-2 38 Notes of such Class on such Distribution Date, (2) second, to the Surety Provider, in an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs Surety Provider Fee with respect to all Purchaser Groups the Series 2001-2 Notes of such Class for the Series 2010-6 related Interest Period ended on the day preceding such Distribution Date and, without duplication, and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)Surety Provider Reimbursement Amounts then due and owing, (23) secondthird, to the Administrator, an amount equal to the Series 20102001-6 2 Class Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 2010-6 Interest Period, (34) thirdfourth, to the Trustee, an amount equal to the Series 20102001-6 2 Class Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s 's fees for such Series 2010-6 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102001-6 2 Class Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, Period and (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“"Excess Collections”"), shall be withdrawn by the Paying Agent from the Series 20102001-6 2 Collection Account and deposited in the Series 20102001-6 2 Excess Collection Account; and
(ii) on each Distribution Date for the Series 2001-2 Notes of any Class during the Series 20102001-6 2 Rapid Amortization Period, (1) first, PRO RATA, to the Auction Agent, the Auction Agent Fee payable in respect of the Series 2001-2 Notes of such Class, and to the Broker-Dealer, the Broker-Dealer Fee payable in respect of the Series 2001-2 Notes of such Class, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee with respect to the Notes of such Class for the related Interest Period and, without duplication, and (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee, an amount equal to the Series 20102001-6 2 Class Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s 's fees for such Series 2010-6 Interest Period, (24) secondfourth, to the Administrator, an amount equal to the Series 20102001-6 2 Class Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF AFC-II for such Series 2010-6 Interest Period, (35) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourthfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102001-6 2 Class Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall constitute Excess Collections and shall be treated as Principal Collectionswithdrawn by the Paying Agent from the Series 2001-2 Collection Account and deposited in the Series 2001-2 Excess Collection Account.
Appears in 1 contract
Sources: Amended and Restated Series 2001 2 Supplement (Avis Group Holdings Inc)
BALANCE. On or prior to the second Business Busi-ness Day preceding each Distribution Date, the Administrator Adminis-trator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section Sec-tion 3.3(a)), if any, of the amounts available from the Series 20102004-6 1 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 20102004-6 1 Revolving Period or any the Series 20102004-6 1 Controlled Amortization Period, (1) first, to the each Series 20102004-6 Reserve Account1 Interest Rate Hedge Counterparty, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Fixed Rate Payment for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date due and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)owing to such Series 2004-1 Interest Rate Hedge Counterparty, (2) second, to the Administrator, an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such Series 20102004-6 1 Interest Period of the portion por-tion of the Monthly Administration Fee payable pay-able by ABRCF CRCF (as specified in clause (iii) of the definition thereof) for such Series 20102004-6 1 Interest Period, (3) third, to the Trustee, an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such Series 20102004-6 1 Interest Period of the Trustee’s fees for such Series 20102004-6 1 Interest Period, (4) fourth, to the Series 20102004-6 1 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such Series 20102004-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102004-6 1 Interest Period, (6) sixth, to each Series 2004-1 Interest Rate Hedge Counterparty, any amounts due and owing under the applicable Series 20102004-6 Reserve Account, an amount equal to the sum of 1 Interest Rate Hedge (xother than any Fixed Rate Payment) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102004-6 1 Collection Account and deposited in the Series 20102004-6 1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102004-6 1 Rapid Amortization Amorti-zation Period, (1) first, to each Series 2004-1 Interest Rate Hedge Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2004-1 Interest Rate Hedge Counterparty, (2) second, to the Trustee, an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such Series 20102004-6 1 Interest Period of the Trustee’s fees for such Series 20102004-6 1 Interest PeriodPeri-od, (23) secondthird, to the AdministratorAdminis-tra-tor, an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such Series 20102004-6 1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF CRCF for such Series 20102004-6 1 Interest Period, (34) thirdfourth, to the Series 20102004-6 1 Distribution Account to pay any Article VII Costs, (45) fourthfifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102004-6 1 Percentage as of the beginning of such Series 20102004-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102004-6 1 Interest Period, (56) fifthsixth, to so long as the Series 20102004-6 Reserve Account1 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102004-6 Interest Period ended on 1 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal CollectionsCollections and (7) seventh, to each Series 2004-1 Interest Rate Hedge Counterparty, any amounts due and owing under the applicable Series 2004-1 Interest Rate Hedge (other than any Fixed Rate Payment).
Appears in 1 contract
Sources: Amended and Restated Series 2004 1 Supplement (Cendant Corp)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)), if any, of the amounts available from the Series 20102015-6 3 Accrued Interest Account as follows:
(i) on each Distribution Date during the Series 20102015-6 3 Revolving Period or any the Series 20102015-6 3 Controlled Amortization Period, (1) first, to the Series 20102015-6 3 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 20102015-6 3 Interest Period ended ending on the day preceding such next Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102015-6 3 Interest Period, (3) third, to the Trustee, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of the Trustee’s fees for such Americas 90884077 (2K) 60 Series 20102015-6 3 Interest Period, (4) fourth, to the Series 20102015-6 3 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102015-6 3 Interest Period, Period and (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 20102015-6 3 Collection Account and deposited in the Series 20102015-6 3 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102015-6 3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of the Trustee’s fees for such Series 20102015-6 3 Interest Period, (2) second, to the Administrator, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102015-6 3 Interest Period, (3) third, to the Series 20102015-6 3 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102015-6 3 Percentage as of the beginning of such Series 20102015-6 3 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102015-6 3 Interest Period, Period and (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, shall be treated as Principal Collections.
Appears in 1 contract
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102023-6 2 Accrued Interest Account and the Series 2023-2 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2023-2 Cash Collateral Accounts pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2023-2 Reserve Accounts pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102023-6 2 Revolving Period or any the Series 20102023-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102023-6 2 Percentage as of the beginning of such the Series 20102023-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102023-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102023-6 2 Percentage as of the beginning of such Series 20102023-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 2 Interest Period, (43) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 2 Percentage as of the beginning of such Series 20102023-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 2 Interest Period ended on the day preceding such Distribution Date and (y4) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventhfourth, the balance, if any (“Excess Collections”)any, shall be withdrawn by the Paying Agent from the Series 20102023-6 2 Collection Account and deposited in the Series 20102023-6 2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 20102023-6 2 Rapid Amortization Period, (1) first, to the Series 2023-2 Distribution Account, an amount equal to Class D Monthly Subordinated Interest with respect to the Series 2023-2 Interest Period ending on the date immediately preceding such Distribution Date to be treated as Principal Collections, (2) second, to the Trustee, an amount equal to the Series 20102023-6 2 Percentage as of the beginning of such Series 20102023-6 2 Interest Period ending on the day preceding such Distribution Date of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102023-6 2 Interest Period, (23) secondthird, to the Administrator, an amount equal to the Series 20102023-6 2 Percentage as of the beginning of such Series 20102023-6 2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 20102023-6 2 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102023-6 2 Percentage as of the beginning of such Series 20102023-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102023-6 2 Interest Period, Period and (5) fifth, to so long as the Series 20102023-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102023-6 Interest Period ended on 2 Invested Amount over the day preceding such Distribution Date and (y) Monthly Total Principal Allocations for the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
Appears in 1 contract
Sources: Amended and Restated Series 2023 2 Supplement (Avis Budget Group, Inc.)
BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102025-6 4 Accrued Interest Account and the Series 2025-4 Distribution Account, plus the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2025-4 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2025-4 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102025-6 4 Revolving Period or any the Series 20102025-6 4 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102025-6 4 Percentage as of the beginning of such the Series 20102025-6 4 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102025-6 4 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102025-6 4 Percentage as of the beginning of such Series 20102025-6 4 Interest Period of the Trustee’s fees owing to the Trustee under the Base Indenture for such Series 20102025-6 4 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2025-4 Percentage as of the beginning of such Series 2025-4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2025-4 Interest Period and (4) fourth, the balance, if any, shall be withdrawn by the Paying Agent from the Series 2025-4 Collection Account and deposited in the Series 2025-4 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2025-4 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102025-6 4 Percentage as of the beginning of such Series 2025-4 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Base Indenture for such Series 2025-4 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2025-4 Percentage as of the beginning of such Series 2025-4 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2025-4 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102025-6 4 Percentage as of the beginning of such Series 20102025-6 4 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102025-6 4 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102025-6 Reserve Account4 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102025-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 4 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
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BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.3(a) of this Supplement), if any, of the amounts available from the Series 20102002-6 1 Accrued Interest Account plus the amount, if any, drawn under the Series 2002-1 Letters of Credit and/or withdrawn from the Series 2002-1 Cash Collateral Account pursuant to Section 2.3(c) of this Supplement plus the amount, if any, withdrawn from the Series 2002-1 Reserve Account pursuant to Section 2.3(d) of this Supplement as follows:
(i) on each Distribution Date during the Series 20102002-6 1 Revolving Period or any a Series 20102002-6 1 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve AccountSurety Provider, in an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups Surety Provider Fee for the related Series 20102002-6 1 Interest Period ended on the day preceding such Distribution Date and and, without duplication, (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon)Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Administrator, an amount equal to the Series 20102002-6 1 Percentage as of the beginning of such Series 20102002-6 1 Interest Period of the portion of the Monthly Administration Fee payable by ABRCF AFC-II (as specified in clause (iii) of the definition thereof) for such Series 20102002-6 1 Interest Period, (3) third, to the Trustee, an amount equal to the Series 20102002-6 1 Percentage as of the beginning of such Series 20102002-6 1 Interest Period of the Trustee’s 's fees for such Series 20102002-6 1 Interest Period, (4) fourth, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (6) sixth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102002-6 1 Percentage as of the beginning of such Series 20102002-6 1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102002-6 1 Interest Period, Period and (5) fifth, the balance, if any ("Excess Collections"), shall be withdrawn by the Paying Agent from the Series 2002-1 Collection Account and deposited in the Series 2002-1 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2002-1 Rapid Amortization Period, (1) first, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 20102002-6 Reserve Account1 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (2) second, to the Trustee, an amount equal to the sum Series 2002-1 Percentage as of the beginning of such Series 2002-1 Interest Period of the Trustee's fees for such Series 2002-1 Interest Period, (x3) third, to the Class R Monthly Interest with respect Administrator, an amount equal to the Series 20102002-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall 1 Percentage as of the immediately preceding Distribution Datebeginning of such Series 2002-1 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by AFC-II for such Series 2002-1 Interest Period, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2002-1 Percentage as of the beginning of such Series 2002-1 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2002-1 Interest Period and (65) sixthfifth, the balance, if any, shall be treated as Principal Collections.
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BALANCE. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section 3.3(a)2.4), if any, of the amounts available from the Series 20102011-6 2 Accrued Interest Account and the Series 2011-2 Distribution Account, plus the amount, if any, drawn under the Series 2011-2 Letters of Credit and/or withdrawn from the Series 2011-2 Cash Collateral Account pursuant to Section 2.3(c) plus the amount, if any, withdrawn from the Series 2011-2 Reserve Account pursuant to Section 2.3(d) as follows:
(i) on each Distribution Date during the Series 20102011-6 2 Revolving Period or any the Series 20102011-6 2 Controlled Amortization Period, (1) first, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the aggregate Contingent Monthly Funding Costs with respect to all Purchaser Groups for the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) any Contingent Monthly Funding Costs Shortfall as of the immediately preceding Distribution Date (together with accrued interest thereon), (2) second, to the Administrator, an amount equal to the Series 20102011-6 2 Percentage as of the beginning of such the Series 20102011-6 2 Interest Period ending on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause (iii) of the definition thereof) for such Series 20102011-6 2 Interest Period, (32) thirdsecond, to the Trustee, an amount equal to the Series 20102011-6 2 Percentage as of the beginning of such Series 20102011-6 2 Interest Period of the Trustee’s fees owing to the Trustee under the Indenture for such Series 20102011-6 2 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2011-2 Percentage as of the beginning of such Series 2011-2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2011-2 Interest Period and (4) fourth, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2011-2 Collection Account and deposited in the Series 2011-2 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2011-2 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 20102011-6 2 Percentage as of the beginning of such Series 2011-2 Interest Period ending on the day preceding such Distribution Account Date of the fees owing to pay any Article VII Coststhe Trustee under the Indenture for such Series 2011-2 Interest Period, (52) fifthsecond, to the Administrator, an amount equal to the Series 2011-2 Percentage as of the beginning of such Series 2011-2 Interest Period of the portion of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2011-2 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 20102011-6 2 Percentage as of the beginning of such Series 20102011-6 2 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 20102011-6 2 Interest PeriodPeriod and (4) fourth, (6) sixth, to so long as the Series 20102011-6 Reserve Account2 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the sum excess of (x) the Class R Monthly Interest with respect to the Series 20102011-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (7) seventh, the balance, if any (“Excess Collections”), shall be withdrawn by the Paying Agent from the Series 2010-6 Collection Account and deposited in the Series 2010-6 Excess Collection Account; and
(ii) on each Distribution Date during the Series 2010-6 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the Trustee’s fees for such Series 2010-6 Interest Period, (2) second, to the Administrator, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of the portion of 2 Invested Amount over the Monthly Administration Fee (as specified in clause (iii) of Total Principal Allocations for the definition thereof) payable by ABRCF for such Series 2010-6 Interest Period, (3) third, to the Series 2010-6 Distribution Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to the Series 2010-6 Percentage as of the beginning of such Series 2010-6 Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2010-6 Interest Period, (5) fifth, to the Series 2010-6 Reserve Account, an amount equal to the sum of (x) the Class R Monthly Interest with respect to the Series 2010-6 Interest Period ended on the day preceding such Distribution Date and (y) the Class R Monthly Interest Shortfall as of the immediately preceding Distribution Date, and (6) sixth, the balance, if any, Related Month shall be treated as Principal Collections.
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