Common use of Designation Clause in Contracts

Designation. A Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement and such Series of Notes was designated generally as “Variable Funding Rental Car Asset Backed Notes, Series 2015-3.” The Series 2015-3 Notes were issued in three Classes, the first of which is known as the “Class A Notes”, the second of which is known as the “Class B Notes” and the third of which is known as the “Class R Notes.” As of the date hereof, ABRCF has issued (i) one tranche of Class A Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class B” and (iii) one tranche of Class R Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class R.” The Class A Notes, the Class B Notes and the Class R Notes constitute the Series 2015-3 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 2015-3 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 2 contracts

Samples: Avis Budget Group, Inc., Avis Budget Group, Inc.

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Designation. A Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 20152010-3 6 Supplement and such Series of Notes was designated generally as “Variable Funding Rental Car Asset Backed Notes, Series 20152010-36.” The Series 20152010-3 6 Notes were issued in three Classes, the first of which is known as the “Class A Notes”, the second of which is known as the “Class B Notes” and the third of which is known as the “Class R Notes.” As of the date hereof, ABRCF has issued (i) one tranche of Class A Notes, which was designated as the “Series 20152010-3 6 Variable Funding Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was designated as the “Series 20152010-3 6 Variable Funding Rental Car Asset Backed Notes, Class B” and (iii) one tranche of Class R Notes, which was designated as the “Series 20152010-3 6 Variable Funding Rental Car Asset Backed Notes, Class R.” The Class A Notes, the Class B Notes and the Class R Notes constitute the Series 20152010-3 6 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 20152010-3 6 Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 20152010-3 6 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152010-3 6 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 2 contracts

Samples: Avis Budget Group, Inc., Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and Investor ----------- Certificates to be issued pursuant to the Base Indenture Agreement and the Original this Series 2015-3 Supplement and such Series of Notes was designated generally as “Variable Funding Rental Car Asset Backed Notes, Series 2015-3.” The Series 2015-3 Notes were issued in three Classes, the first of which is to be known as the “Class A Notes”"Collateral Certificates." The Collateral Certificates will be transferred by the Seller to First Consumers Credit Card Master Note Trust (the "Note Trust") pursuant to a Transfer and Servicing Agreement dated as of March 1, 2001 among the Seller, the second Servicer and First Consumers Credit Card Master Note Trust. The Note Trust will pledge the Collateral Certificates as collateral for one or more series of which is known notes (each, a "Note Series") to be issued by the Note Trust pursuant to a Master Indenture dated as of March 1, 2001 between First Consumers Credit Card Master Note Trust, and The Bank of New York, as indenture trustee, and one or more supplements to the “Class B Notes” and Master Indenture (each, an "Indenture Supplement" and, together with the third of which is known as Master Indenture referred to above, the “Class R Notes.” As "Indenture"). The portions of the date hereof, ABRCF has issued (i) one tranche of Class A Notes, which was designated as the “Collateral Certificates primarily securing each Note Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class B” and (iii) one tranche of Class R Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class R.” The Class A Notes, the Class B Notes and the Class R Notes constitute the Series 2015-3 Notes. The Class B Notes shall be subordinated treated as separate Series (each, a "Collateral Series") under the Agreement and this Series Supplement. Certain terms pertaining to each Collateral Series will be defined in right the applicable Indenture Supplements (but are hereby incorporated by reference into this Series Supplement). Unless and until the Trust has been terminated as permitted by Section 3(b) of payment to this Series Supplement: (a) each Indenture Supplement executed and delivered by the Class A Notes, to the extent set forth herein. The Class R Notes Note Trust shall be subordinated in right of payment deemed to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the supplement this Series 2015-3 Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Supplement; (b) a new Collateral Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The issued upon the issuance of each Note Series 2015and shall have the same designation (e.g., Series 2001-3 Notes are a non-Segregated A) as the related Note Series; (c) the amounts payable as interest and principal on such Collateral Series shall equal the aggregate of Notes (as more fully described the amounts payable on the related Note Series and shall be payable at the times and in the Base Indenture). Accordinglyamounts specified for such Note Series, (d) all references in amounts available and applied as credit enhancement with respect to such Note Series shall be deemed to be available and applied as credit enhancement with respect to such Collateral Series; (e) all amounts payable to the Seller pursuant to the related Indenture Supplement shall be deemed to be payable to the Seller pursuant to this Supplement to “all” Series of Notes Supplement; and (and all references in this Supplement to terms f) the conditions defined in Section 6.12 of the Base Indenture Agreement for issuance of new Series must be satisfied in connection with each issuance of a Note Series; provided, however, that contain references to “all” Series the Opinion of NotesCounsel required in clause (D) of the -------- ------- sixth sentence of Section 6.12(b) shall refer not be required to all include the opinion in subclause (4) of such clause (D) to the effect that the Collateral Certificate established pursuant to this Series of Notes other than Segregated Series of NotesSupplement will be properly characterized as debt.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Spiegel Inc), Pooling and Servicing Agreement (First Consumers Master Trust)

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2014-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152014-3 1 Notes were shall be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2014-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152014-3 Variable Funding 1 2.46% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152014-3 Variable Funding 1 2.96% Rental Car Asset Backed Notes, Class B” and (iii) one tranche of Class R C Notes, which was shall be designated as the “Series 20152014-3 Variable Funding 1 3.75% Rental Car Asset Backed Notes, Class R.” C”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, together, constitute the Series 20152014-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 20152014-3 1 Notes were shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152014-3 1 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as “Variable Funding the Series 2011-1 Rental Car Asset Backed Notes, Series 2015-3.” . The Series 20152011-3 1 Notes were shall be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is which, if issued, shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2011-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the Series 20152011-3 Variable Funding 1 1.85% Rental Car Asset Backed Notes, Class A”, A and (ii) one tranche of Class B Notes, which was shall be designated as the Series 20152011-3 Variable Funding 1 2.98% Rental Car Asset Backed Notes, Class B” B. Subsequent to the Series 2011-1 Closing Date, ABRCF may on any date during the Series 2011-1 Revolving Period offer and (iii) one tranche of Class R sell additional Series 2011-1 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2011-1 Notes, which was if issued, shall be designated as the Series 20152011-3 Variable Funding 1 Fixed Rate Rental Car Asset Backed Notes, Class R.” C, and shall be referred to herein as the “Class C Notes”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, if issued, together, constitute the Series 20152011-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes C Notes, if issued, shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes were and Class B Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152011-3 1 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2021-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152021-3 1 Notes were shall be issued in three up to six Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class D Notes”, the fifth of which shall be known as the “Class R Notes.As and the sixth of which, if issued, shall be known as the date hereof“Class E Notes”. On the Series 2021-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152021-3 Variable Funding 1 1.38% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152021-3 Variable Funding 1 1.63% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2021-1 2.13% Rental Car Asset Backed Notes, Class C”, (iv) one tranche of Class D Notes, which shall be designated the “Series 2021-1 3.71% Rental Car Asset Backed Notes, Class D” and (iiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152021-3 Variable Funding 1 5.715% Rental Car Asset Backed Notes, Class R.” The Class A R”. Subsequent to the Series 2021-1 Closing Date, ABRCF may on any date during the Series 2021-1 Revolving Period offer and sell additional Series 2021-1 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2021-1 Notes, the Class B Notes and the Class R Notes constitute the Series 2015-3 Notes. The Class B Notes if issued, shall be subordinated in right of payment to designated as the Class A “Series 2021-1 Rental Car Asset Backed Notes, to the extent set forth herein. The Class R Notes E” and shall be subordinated in right of payment referred to herein as the Class A Notes and the Class B E Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 2015-3 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Group IV Series of Notes was created and to be issued pursuant to the Base Indenture and the Original this Series 2015-3 Supplement and such Group IV Series of Notes was shall be designated generally as “Variable Funding "Rental Car Asset Backed Notes, Series 20152002-3.” 2". The Series 20152002-3 2 Notes were shall be issued in three Classes, the first of which is known as the “Class A Notes”, the second of which is known as the “Class B Notes” and the third of which is known as the “Class R Notes.” As of the date hereof, ABRCF has issued four classes: (i) one tranche of Class A Notes, which was designated as the “Series 20152002-3 Variable Funding 2 Rental Car Asset Backed Notes, Class A, which shall be designated generally as the "Class A Notes", (ii) one tranche of Class B Notes, which was designated as the “Series 20152002-3 Variable Funding 2 Rental Car Asset Backed Notes, Class B” and , which shall be designated generally as the "Class B Notes", (iii) one tranche of Class R Notes, which was designated as the “Series 20152002-3 Variable Funding 2 Rental Car Asset Backed Notes, Class R.” The C, which shall be designated generally as the "Class C Notes" and (iv) Series 2002-2 Rental Car Asset Backed Notes Class D, which shall be designated generally as the "Class D Notes" (and, together with the Class A Notes, the Class B Notes and the Class R C Notes, the "SERIES 2002-2 NOTES"). The Series 2002-2 Notes constitute the Series 2015-3 Notesshall be issued in minimum denominations of $200,000 and integral multiples of $1,000 in excess thereof. The Class B Notes shall be are subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be are subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes are subordinated in right of payment to the Class A Notes, the Class B Notes and the Class C Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 20152002-3 2 Notes were shall be deposited in the Group IV Collection Account and were paid to ABRCF and used to make Loans under fund increases in the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date principal amounts of the Original Group IV Leasing Company Notes and/or to reduce the principal amount of other Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal CollectionsNotes. The Series 20152002-3 2 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture)) sharing in the Group IV Collateral and excluding any other Group-Specific Collateral that is not Group IV Collateral under the Base Indenture. Accordingly, all references in this Series Supplement to "all" Series of Notes (and all references in this Series Supplement to terms defined in the Base Indenture that contain references to "all" Series of Notes) shall refer to all Series of Notes sharing in the Group IV Collateral and shall exclude each other Series of Notes (whether a Segregated Series secured by collateral other than the Group IV Collateral or a non-Segregated Series of Notes).

Appears in 1 contract

Samples: Lease and Servicing Agreement (Anc Rental Corp)

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2012-3 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152012-3 Notes were shall be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is which, if issued, shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2012-3 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152012-3 Variable Funding 2.10% Rental Car Asset Backed Notes, Class A”, ” and (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152012-3 Variable Funding 3.04% Rental Car Asset Backed Notes, Class B”. Subsequent to the Series 2012-3 Closing Date, ABRCF may on any date during the Series 2012-3 Revolving Period offer and (iii) one tranche of Class R sell additional Series 2012-3 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2012-3 Notes, which was if issued, shall be designated as the “Series 20152012-3 Variable Funding Fixed Rate Rental Car Asset Backed Notes, Class R.” C”, and shall be referred to herein as the “Class C Notes”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, if issued, together, constitute the Series 20152012-3 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes C Notes, if issued, shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes were and Class B Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152012-3 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There was created a Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement Prior Supplement, and such Series of Notes was designated generally as “Variable Funding the Series 2012-2 Rental Car Asset Backed Notes, Series 2015-3.” . The Series 20152012-3 2 Notes were permitted to be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is shall be known as the “Class R C Notes.” As of ”. NEWYORK 8960490 (2K)A&R Series 2012-2 Supplement (Class C Note issuance) 1 On the date hereofSeries 2012-2 Closing Date, ABRCF has issued (i) one tranche of Class A Notes, which was designated as the Series 20152012-3 Variable Funding 2 2.802% Rental Car Asset Backed Notes, Class A”, A and (ii) one tranche of Class B Notes, which was designated as the Series 20152012-3 Variable Funding 2 3.887% Rental Car Asset Backed Notes, Class B” and (iii) B. On the Class C Notes Closing Date, ABRCF shall issue one tranche of Class R C Notes, which was shall be designated as the Series 20152012-3 Variable Funding 2 4.00% Rental Car Asset Backed Notes, Class R.” C. The Class A Notes, the Class B Notes and the Class R Notes C Notes, together, constitute the Series 20152012-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes and Class B Notes were deposited in the Collection Account and were paid deemed to ABRCF be Principal Collections, and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date proceeds of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans Class C Notes shall be deposited in the Collection Account and shall be deemed to be Principal Collections. The Series 20152012-3 2 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2023-4 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152023-3 4 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2023-4 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 4 5.49% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 4 6.32% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2023-4 7.24% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 4 9.170% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2023-4 Closing Date, ABRCF may on any date during the Series 2023-4 Revolving Period offer and sell additional Series 2023-4 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2023-4 Notes, if issued, shall be designated as the “Series 2023-4 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152023-3 4 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152023-3 4 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There was created a Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement Prior Supplement, and such Series of Notes was designated generally as “Variable Funding the Series 2011-5 Rental Car Asset Backed Notes, Series 2015-3.” . The Series 20152011-3 5 Notes were permitted to be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2011-5 Closing Date, ABRCF has issued (i) one tranche of Class A Notes, which was designated as the Series 20152011-3 Variable Funding 5 3.27% Rental Car Asset Backed Notes, Class A”, A and (ii) one tranche of Class B Notes, which was designated as the Series 20152011-3 Variable Funding 5 4.72% Rental Car Asset Backed Notes, Class B” and (iii) B. On the Class C Notes Closing Date, ABRCF shall issue one tranche of Class R C Notes, which was shall be designated as the Series 20152011-3 Variable Funding 5 3.78% Rental Car Asset Backed Notes, Class R.” C. The Class A Notes, the Class B Notes and the Class R Notes C Notes, together, constitute the Series 20152011-3 5 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes and Class B Notes were deposited in the Collection Account and were paid deemed to ABRCF be Principal Collections, and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date proceeds of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans Class C Notes shall be deposited in the Collection Account and shall be deemed to be Principal Collections. The Series 20152011-3 5 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2023-7 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152023-3 7 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2023-7 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 7 5.90% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 7 6.44% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2023-7 7.41% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 7 9.321% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2023-7 Closing Date, ABRCF may on any date during the Series 2023-7 Revolving Period offer and sell additional Series 2023-7 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2023-7 Notes, if issued, shall be designated as the “Series 2023-7 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152023-3 7 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152023-3 7 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as “Variable Funding the Series 2011-5 Rental Car Asset Backed Notes, Series 2015-3.” . The Series 20152011-3 5 Notes were shall be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is which, if issued, shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2011-5 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the Series 20152011-3 Variable Funding 5 3.27% Rental Car Asset Backed Notes, Class A”, A and (ii) one tranche of Class B Notes, which was shall be designated as the Series 20152011-3 Variable Funding 5 4.72% Rental Car Asset Backed Notes, Class B” B. Subsequent to the Series 2011-5 Closing Date, ABRCF may on any date during the Series 2011-5 Revolving Period offer and (iii) one tranche of Class R sell additional Series 2011-5 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2011-5 Notes, which was if issued, shall be designated as the Series 20152011-3 Variable Funding 5 Fixed Rate Rental Car Asset Backed Notes, Class R.” C, and shall be referred to herein as the “Class C Notes”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, if issued, together, constitute the Series 20152011-3 5 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes C Notes, if issued, shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes were and Class B Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152011-3 5 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Rental (Avis Budget Group, Inc.)

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2017-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152017-3 1 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2017-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152017-3 Variable Funding 1 3.07% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152017-3 Variable Funding 1 3.41% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2017-1 4.15% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 2015-3 Variable Funding 2017 6.75% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2017-1 Closing Date, ABRCF may on any date during the Series 2017-1 Revolving Period offer and sell additional Series 2017-1 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2017-1 Notes, if issued, shall be designated as the “Series 2017-1 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152017-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152017-3 1 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2012-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152012-3 2 Notes were shall be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is which, if issued, shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2012-2 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152012-3 Variable Funding 2 2.802% Rental Car Asset Backed Notes, Class A”, ” and (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152012-3 Variable Funding 2 3.877% Rental Car Asset Backed Notes, Class B”. Subsequent to the Series 2012-2 Closing Date, ABRCF may on any date during the Series 2012-2 Revolving Period offer and (iii) one tranche of Class R sell additional Series 2012-2 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2012-2 Notes, which was if issued, shall be designated as the “Series 20152012-3 Variable Funding 2 Fixed Rate Rental Car Asset Backed Notes, Class R.” C”, and shall be referred to herein as the “Class C Notes”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, if issued, together, constitute the Series 20152012-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes C Notes, if issued, shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes were and Class B Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152012-3 2 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2018-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152018-3 1 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2018-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152018-3 Variable Funding 1 3.70% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152018-3 Variable Funding 1 4.00% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2018-1 4.73% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152018-3 Variable Funding 1 6.354% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2018-1 Closing Date, ABRCF may on any date during the Series 2018-1 Revolving Period offer and sell additional Series 2018-1 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2018-1 Notes, if issued, shall be designated as the “Series 2018-1 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152018-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152018-3 1 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2018-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152018-3 2 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2018-2 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152018-3 Variable Funding 2 4.00% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152018-3 Variable Funding 2 4.27% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2018-2 4.95% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152018-3 Variable Funding 2 6.326% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2018-2 Closing Date, ABRCF may on any date during the Series 2018-2 Revolving Period offer and sell additional Series 2018-2 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2018-2 Notes, if issued, shall be designated as the “Series 2018-2 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152018-3 2 Notes. The Class B Notes shall be subordinated AMERICAS 96004183 1 in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152018-3 2 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2020-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152020-3 2 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2020-2 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152020-3 Variable Funding 2 2.02% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152020-3 Variable Funding 2 2.96% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2020-2 4.25% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152020-3 Variable Funding 2 6.40% Rental Car Asset Backed Notes, Class R.” The Class A R”. Subsequent to the Series 2020-2 Closing Date, ABRCF may on any date during the Series 2020-2 Revolving Period offer and sell additional Series 2020-2 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2020-2 Notes, the Class B Notes and the Class R Notes constitute the Series 2015-3 Notes. The Class B Notes if issued, shall be subordinated in right of payment to designated as the Class A “Series 2020-2 Rental Car Asset Backed Notes, to the extent set forth herein. The Class R Notes D” and shall be subordinated in right of payment referred to herein as the Class A Notes and the Class B D Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 2015-3 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2020-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152020-3 1 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2020-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152020-3 Variable Funding 1 2.33% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152020-3 Variable Funding 1 2.68% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2020-1 3.02% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152020-3 Variable Funding 1 4.753% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2020-1 Closing Date, ABRCF may on any date during the Series 2020-1 Revolving Period offer and sell additional Series 2020-1 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2020-1 Notes, if issued, shall be designated as the “Series 2020-1 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152020-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152020-3 1 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There was created a Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement Prior Supplement, and such Series of Notes was designated generally as the Variable Funding Series 2019-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152019-3 2 Notes were permitted to be issued in three up to five Classes, the first of which is known as the “Class A Notes”, the second of which is known as the “Class B Notes” and ”, the third of which is known as the “Class C Notes”, the fourth of which is known as the “Class R Notes.As and the fifth of which shall be known as the date hereof“Class D Notes”. On the Class A/B/C Notes Closing Date, ABRCF has issued (i) one tranche of Class A Notes, which was Notes designated as the “Series 20152019-3 Variable Funding 2 3.35% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was Notes designated as the “Series 20152019-3 Variable Funding 2 3.55% Rental Car Asset Backed Notes, Class B” and ”, (iii) one tranche of Class R Notes, which was C Notes designated as the “Series 20152019-3 Variable Funding 2 4.24% Rental Car Asset Backed Notes, Class R.Cand (iv) one tranche of Class R Notes designated the “Series 2019-2 5.926% Rental Car Asset Backed Notes, Class R”. On the Class D Notes Closing Date, ABRCF shall issue (i) one tranche of Class D Notes designated as the “Series 2019-2 Rental Car Asset Backed Notes, Class D” and (ii) Additional Class R Notes. The Class A Notes, the Class B Notes, Class C Notes, Class D Notes and the Class R Notes collectively, constitute the Series 20152019-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes and Class R Notes were deposited in the Collection Account and were paid deemed to ABRCF be Principal Collections, and used to make Loans under the Loan Agreements to proceeds from the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date sale of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans Class D Notes and Additional Class R Notes shall be deposited in the Collection Account and shall be deemed to be Principal Collections. The Series 20152019-3 2 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2019-3 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152019-3 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2019-3 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152019-3 Variable Funding 2.36% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152019-3 Variable Funding 2.65% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2019-3 3.15% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152019-3 Variable Funding 4.874% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2019-3 Closing Date, ABRCF may on any date during the Series 2019-3 Revolving Period offer and sell additional Series 2019-3 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2019-3 Notes, if issued, shall be designated as the “Series 2019-3 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152019-3 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152019-3 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement and such Series of Notes was designated generally as “Variable Funding Rental Car Asset Backed Notes, Series 2015-3.” The As of the date hereof, the Series 2015-3 Notes were shall be issued in three two Classes, the first of which is shall be known as the “Class A Notes”, ” and the second of which is known as the “Class B Notes” and the third of which is shall be known as the “Class R Notes.” As of On the date hereof, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class B” and (iiiii) one tranche of Class R Notes, which was shall be designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class R.” The Class A Notes, the Class B Notes and the Class R Notes constitute the Series 2015-3 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 2015-3 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2023-6 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152023-3 6 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2023-6 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 6 5.81% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 6 6.40% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2023-6 7.03% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 6 8.969% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2023-6 Closing Date, ABRCF may on any date during the Series 2023-6 Revolving Period offer and sell additional Series 2023-6 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2023-6 Notes, if issued, shall be designated as the “Series 2023-6 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152023-3 6 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152023-3 6 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Group I Notes was created and to be issued pursuant to the Base Indenture Group I Supplement and the Original this Series 20152018-3 Supplement 1 Supplement, and such Series of Group I Notes was is hereby designated generally as “Variable Funding Series 2018-1 Rental Car Asset Backed Notes. On the Series 2018-1 Closing Date, five classes of Series 2018-1 Rental Car Asset Backed Notes shall be issued: the first of which shall be designated as the Series 2018-1 3.29% Rental Car Asset Backed Notes, Series 2015-3.” The Series 2015-3 Notes were issued in three ClassesClass A, the first of which is known and referred to herein as the “Class A Notes”, the second of which is known as the “Class B Notes” and the third of which is known as the “Class R Notes.” As of the date hereof, ABRCF has issued (i) one tranche of Class A Notes, which was shall be designated as the Series 20152018-3 Variable Funding Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was designated as the “Series 2015-3 Variable Funding 1 3.60% Rental Car Asset Backed Notes, Class B, and (iii) one tranche referred to herein as the “Class B Notes”, the third of Class R Notes, which was shall be designated as the Series 20152018-3 Variable Funding 1 4.39% Rental Car Asset Backed Notes, Class R.” C, and referred to herein as the “Class C Notes”, the fourth of which shall be designated as the Series 2018-1 5.86% Rental Car Asset Backed Notes, Class D, and referred to herein as the “Class D Notes”, and the fifth of which shall be designated as the Series 2018-1 7.32% Rental Car Asset Backed Notes, Class RR, and referred to herein as the “Class RR Notes”. Subsequent to the Series 2018-1 Closing Date, HVF II may on any date during the Series 2018-1 Revolving Period offer and sell additional Series 2018-1 Notes in a single class, subject to satisfaction of the conditions set forth in Section 9.18 of this Series 2018-1 Supplement, which, if issued, shall be designated as the Series 2018-1 Fixed Rate Rental Car Asset Backed Notes, Class E, and referred to herein as the “Class E Notes”. The Class A Notes, the Class B Notes and Notes, the Class R Notes constitute C Notes, the Class D Notes, the Class RR Notes, and, if issued, the Class E Notes, are referred to herein collectively as the “Series 20152018-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, the Class C Notes and the Class D Notes are referred to herein collectively as the extent set forth herein“Class A/B/C/D Notes”. The proceeds from the initial sale of the Series 2015-3 Class A/B/C Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collectionsissued in minimum denominations of $100,000 and integral multiples of $1,000 in excess thereof. The Series 2015-3 Class D Notes are a non-Segregated Series and the Class RR Notes shall be issued in minimum denominations of Notes (as more fully described $5,000,000 and integral multiples of $1,000 in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notesexcess thereof.

Appears in 1 contract

Samples: Hertz Corp

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2023-5 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152023-3 5 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2023-5 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 5 5.78% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 5 6.12% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2023-5 6.85% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 5 8.768% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2023-5 Closing Date, ABRCF may on any date during the Series 2023-5 Revolving Period offer and sell additional Series 2023-5 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2023-5 Notes, if issued, shall be designated as the “Series 2023-5 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152023-3 5 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152023-3 5 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2014-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152014-3 2 Notes were shall be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is which, if issued, shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2014-2 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152014-3 Variable Funding 2 2.50% Rental Car Asset Backed Notes, Class A”, ” and (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152014-3 Variable Funding 2 3.29% Rental Car Asset Backed Notes, Class B”. Subsequent to the Series 2014-2 Closing Date, ABRCF may on any date during the Series 2014-2 Revolving Period offer and (iii) one tranche of Class R sell additional Series 2014-2 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2014-2 Notes, which was if issued, shall be designated as the “Series 20152014-3 Variable Funding 2 Fixed Rate Rental Car Asset Backed Notes, Class R.” C”, and shall be referred to herein as the “Class C Notes”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, if issued, together, constitute the Series 20152014-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes C Notes, if issued, shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes were and Class B Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152014-3 2 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2023-3 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152023-3 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2023-3 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 5.44% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 6.12% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2023-3 7.05% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 8.964% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2023-3 Closing Date, ABRCF may on any date during the Series 2023-3 Revolving Period offer and sell additional Series 2023-3 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2023-3 Notes, if issued, shall be designated as the “Series 2023-3 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152023-3 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152023-3 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2022-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152022-3 1 Notes were shall be issued in three up to six Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class D Notes”, the fifth of which shall be known as the “Class R Notes.As and the sixth of which, if issued, shall be known as the date hereof“Class E Notes”. On the Series 2022-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152022-3 Variable Funding 1 3.83% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152022-3 Variable Funding 1 4.30% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2022-1 4.84% Rental Car Asset Backed Notes, Class C”, (iv) one tranche of Class D Notes, which shall be designated the “Series 2022-1 6.79% Rental Car Asset Backed Notes, Class D” and (iiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152022-3 Variable Funding 1 7.767% Rental Car Asset Backed Notes, Class R.” The Class A R”. Subsequent to the Series 2022-1 Closing Date, ABRCF may on any date during the Series 2022-1 Revolving Period offer and sell additional Series 2022-1 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2022-1 Notes, the Class B Notes and the Class R Notes constitute the Series 2015-3 Notes. The Class B Notes if issued, shall be subordinated in right of payment to designated as the Class A “Series 2022-1 Rental Car Asset Backed Notes, to the extent set forth herein. The Class R Notes E” and shall be subordinated in right of payment referred to herein as the Class A Notes and the Class B E Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 2015-3 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement and such Series of Notes was designated generally as “Variable Funding Rental Car Asset Backed Notes, Series 2015-3.” The 3.”The Series 2015-3 Notes were issued in three two Classes, the first of which is known as the “Class A Notes”, the second of which is known as the “Class B Notes” and the third second of which is known as the “Class R Notes.” As of the date hereof, ABRCF has issued (i) one tranche of Class A Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class B” and (iiiii) one tranche of Class R Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class R.” The Class A Notes, the Class B Notes and the Class R Notes constitute the Series 2015-3 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 2015-3 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2016-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152016-3 2 Notes were shall be issued in three up to four Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class R C Notes.As and the fourth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2016-2 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152016-3 Variable Funding 2 2.72% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152016-3 Variable Funding 2 3.36% Rental Car Asset Backed Notes, Class B” and (iii) one tranche of Class R C Notes, which was shall be designated as the “Series 20152016-3 Variable Funding 2 4.83% Rental Car Asset Backed Notes, Class R.C”. Subsequent to the Series 2016-2 Closing Date, ABRCF may on any date during the Series 2016-2 Revolving Period offer and sell additional Series 2016-2 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2016-2 Notes, if issued, shall be designated as the “Series 2016-2 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes, Class C Notes and the Class R Notes D Notes, if issued, collectively, constitute the Series 20152016-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 2015-3 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.forth

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2024-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152024-3 1 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2024-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152024-3 Variable Funding 1 5.36% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152024-3 Variable Funding 1 5.85% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2024-1 6.48% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152024-3 Variable Funding 1 8.427% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2024-1 Closing Date, ABRCF may on any date during the Series 2024-1 Revolving Period offer and sell additional Series 2024-1 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2024-1 Notes, if issued, shall be designated as the “Series 2024-1 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152024-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152024-3 1 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There was created a Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement Prior Supplement, and such Series of Notes was designated generally as the Variable Funding Series 2019-3 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152019-3 Notes were permitted to be issued in three up to five Classes, the first of which is known as the “Class A Notes”, the second of which is known as the “Class B Notes” and ”, the third of which is known as the “Class C Notes”, the fourth of which is known as the “Class R Notes.As and the fifth of which shall be known as the date hereof“Class D Notes”. On the Class A/B/C Notes Closing Date, ABRCF has issued (i) one tranche of Class A Notes, which was Notes designated as the “Series 20152019-3 Variable Funding 2.36% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was Notes designated as the “Series 20152019-3 Variable Funding 2.65% Rental Car Asset Backed Notes, Class B” and ”, (iii) one tranche of Class R Notes, which was C Notes designated as the “Series 20152019-3 Variable Funding 3.15% Rental Car Asset Backed Notes, Class R.Cand (iv) one tranche of Class R Notes designated the “Series 2019-3 4.874% Rental Car Asset Backed Notes, Class R”. On the Class D Notes Closing Date, ABRCF shall issue (i) one tranche of Class D Notes designated as the “Series 2019-3 5.43% Rental Car Asset Backed Notes, Class D” and (ii) the Additional Class R Notes. The Class A Notes, the Class B Notes, Class C Notes, Class D Notes and the Class R Notes collectively, constitute the Series 20152019-3 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes and Class R Notes were deposited in the Collection Account and were paid deemed to ABRCF be Principal Collections, and used to make Loans under the Loan Agreements to proceeds from the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date sale of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans Class D Notes and the Additional Class R Notes shall be deposited in the Collection Account and shall be deemed to be Principal Collections. The Series 20152019-3 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2016-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152016-3 1 Notes were shall be issued in three up to four Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class R C Notes.As and the fourth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2016-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152016-3 Variable Funding 1 2.99% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152016-3 Variable Funding 1 3.78% Rental Car Asset Backed Notes, Class B” and (iii) one tranche of Class R C Notes, which was shall be designated as the “Series 20152016-3 Variable Funding 1 4.94% Rental Car Asset Backed Notes, Class R.C”. Subsequent to the Series 2016-1 Closing Date, ABRCF may on any date during the Series 2016-1 Revolving Period offer and sell additional Series 2016-1 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2016-1 Notes, if issued, shall be designated as the “Series 2016-1 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes, Class C Notes and the Class R Notes D Notes, if issued, collectively, constitute the Series 20152016-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 2015-3 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.forth

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and ----------- Investor Certificates to be issued pursuant to the Base Indenture Agreement and the Original this Series 2015-3 Supplement and such Series of Notes was designated generally as “Variable Funding Rental Car Asset Backed Notes, Series 2015-3.” The Series 2015-3 Notes were issued in three Classes, the first of which is to be known as the “Class A Notes”"Collateral Certificates". The Collateral Certificates will be transferred by the Seller to Spiegel Credit Card Master Note Trust (the "Note Trust") pursuant to a Transfer and Servicing Agreement dated as of ____________, 2000 among the Seller, the second Servicer and _____________________, as owner trustee for the Note Trust. The Note Trust will pledge the Collateral Certificates as collateral for one or more series of which is known notes (each, a "Note Series") to be issued by the Note Trust pursuant to a Master Indenture dated as of ____________, 2000 between _____________________, as owner trustee for the “Class B Notes” Note Trust, and BNY Midwest Trust Company, as indenture trustee, and one or more supplements to the third of which is known as Master Indenture (each, an "Indenture Supplement" and, together with the “Class R Notes.” As Master Indenture referred to above, the "Indenture"). The portions of the date hereof, ABRCF has issued (i) one tranche of Class A Notes, which was designated as the “Collateral Certificates primarily securing each Note Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class B” and (iii) one tranche of Class R Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class R.” The Class A Notes, the Class B Notes and the Class R Notes constitute the Series 2015-3 Notes. The Class B Notes shall be subordinated treated as separate Series (each, a "Collateral Series") under the Agreement and this Series Supplement. Certain terms pertaining to each Collateral Series will be defined in right the applicable Indenture Supplements (but are hereby incorporated by reference into this Series Supplement). Unless and until the Trust has been terminated as permitted by Section 3(b) of payment to this Series Supplement: (a) each Indenture Supplement executed and delivered by the Class A Notes, to the extent set forth herein. The Class R Notes Note Trust shall be subordinated in right of payment deemed to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the supplement this Series 2015-3 Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Supplement; (b) a new Collateral Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The issued upon the issuance of each Note Series 2015and shall have the same designation (e.g., Series 2000-3 Notes are a non-Segregated A) as the related Note Series; (c) the amounts payable as interest and principal on such Collateral Series shall equal the aggregate of Notes (as more fully described the amounts payable on the related Note Series and shall be payable at the times and in the Base Indenture). Accordinglyamounts specified for such Note Series, (d) all references in amounts available and applied as credit enhancement with respect to such Note Series shall be deemed to be available and applied as credit enhancement with respect to such Collateral Series; (e) all amounts payable to the Seller pursuant to the related Indenture Supplement shall be deemed to be payable to the Seller pursuant to this Supplement to “all” Series of Notes Supplement; and (and all references in this Supplement to terms f) the conditions defined in Section 6.12 of the Base Indenture that contain references to “all” Agreement for issuance of new Series must be satisfied in connection with each issuance of Notes) shall refer to all Series of Notes other than Segregated Series of Notesa Note Series.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Spiegel Master Trust)

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2023-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152023-3 2 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2023-2 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 2 5.20% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 2 6.03% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2023-2 8.55% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 2 10.476% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2023-2 Closing Date, ABRCF may on any date during the Series 2023-2 Revolving Period offer and sell additional Series 2023-2 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2023-2 Notes, if issued, shall be designated as the “Series 2023-2 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152023-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152023-3 2 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2015-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 2015-3 2 Notes were shall be issued in three up to four Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class R C Notes.As and the fourth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2015-2 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 2015-3 Variable Funding 2 2.63% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 2015-3 Variable Funding 2 3.42% Rental Car Asset Backed Notes, Class B” and (iii) one tranche of Class R C Notes, which was shall be designated as the “Series 2015-3 Variable Funding 2 3.93% Rental Car Asset Backed Notes, Class R.C”. Subsequent to the Series 2015-2 Closing Date, ABRCF may on any date during the Series 2015-2 Revolving Period offer and sell additional Series 2015-2 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2015-2 Notes, if issued, shall be designated as the “Series 2015-2 Fixed Rate Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes, Class C Notes and the Class R Notes D Notes, if issued, collectively, constitute the Series 2015-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes were and Class C Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 2015-3 2 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as “Variable Funding the Series 2011-3 Rental Car Asset Backed Notes, Series 2015-3.” . The Series 20152011-3 Notes were shall be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is which, if issued, shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2011-3 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the Series 20152011-3 Variable Funding 3.41% Rental Car Asset Backed Notes, Class A”, A and (ii) one tranche of Class B Notes, which was shall be designated as the Series 20152011-3 Variable Funding 4.74% Rental Car Asset Backed Notes, Class B” B. Subsequent to the Series 2011-3 Closing Date, ABRCF may on any date during the Series 2011-3 Revolving Period offer and (iii) one tranche of Class R sell additional Series 2011-3 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2011-3 Notes, which was if issued, shall be designated as the Series 20152011-3 Variable Funding Fixed Rate Rental Car Asset Backed Notes, Class R.” C, and shall be referred to herein as the “Class C Notes”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, if issued, together, constitute the Series 20152011-3 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes C Notes, if issued, shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes were and Class B Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152011-3 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2019-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152019-3 2 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2019-2 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152019-3 Variable Funding 2 3.35% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152019-3 Variable Funding 2 3.55% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2019-2 4.24% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152019-3 Variable Funding 2 5.926% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2019-2 Closing Date, ABRCF may on any date during the Series 2019-2 Revolving Period offer and sell additional Series 2019-2 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2019-2 Notes, if issued, shall be designated as the “Series 2019-2 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152019-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152019-3 2 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

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Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2013-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152013-3 1 Notes were shall be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is which, if issued, shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2013-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152013-3 Variable Funding 1 1.92% Rental Car Asset Backed Notes, Class A”, ” and (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152013-3 Variable Funding 1 2.62% Rental Car Asset Backed Notes, Class B”. Subsequent to the Series 2013-1 Closing Date, ABRCF may on any date during the Series 2013-1 Revolving Period offer and (iii) one tranche of Class R sell additional Series 2013-1 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2013-1 Notes, which was if issued, shall be designated as the “Series 20152013-3 Variable Funding 1 Fixed Rate Rental Car Asset Backed Notes, Class R.” C”, and shall be referred to herein as the “Class C Notes”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, if issued, together, constitute the Series 20152013-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes C Notes, if issued, shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes were and Class B Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152013-3 1 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2023-8 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152023-3 8 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2023-8 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 8 6.02% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 8 6.66% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2023-8 7.34% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 8 9.268% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2023-8 Closing Date, ABRCF may on any date during the Series 2023-8 Revolving Period offer and sell additional Series 2023-8 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2023-8 Notes, if issued, shall be designated as the “Series 2023-8 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152023-3 8 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152023-3 8 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2019-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152019-3 1 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2019-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152019-3 Variable Funding 1 3.45% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152019-3 Variable Funding 1 3.70% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2019-1 4.53% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152019-3 Variable Funding 1 6.192% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2019-1 Closing Date, ABRCF may on any date during the Series 2019-1 Revolving Period offer and sell additional Series 2019-1 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2019-1 Notes, if issued, shall be designated as the “Series 2019-1 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152019-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152019-3 1 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2021-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152021-3 2 Notes were shall be issued in three up to six Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class D Notes”, the fifth of which shall be known as the “Class R Notes.As and the sixth of which, if issued, shall be known as the date hereof“Class E Notes”. On the Series 2021-2 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152021-3 Variable Funding 2 1.66% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152021-3 Variable Funding 2 1.90% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2021-2 2.35% Rental Car Asset Backed Notes, Class C”, (iv) one tranche of Class D Notes, which shall be designated the “Series 2021-2 4.08% Rental Car Asset Backed Notes, Class D” and (iiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152021-3 Variable Funding 2 7.032% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2021-2 Closing Date, ABRCF may on any date during the Series 2021-2 Revolving Period offer and sell additional Series 2021-2 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2021-2 Notes, if issued, shall be designated as the “Series 2021-2 Rental Car Asset Backed Notes, Class Eand shall be referred to herein as the “Class E Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, Class E Notes, if issued, and the Class R Notes collectively, constitute the Series 20152021-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class E Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes, Class C Notes and Class D Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and (if issued) the Class E Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes, Class D Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152021-3 2 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 20152010-3 6 Supplement and such Series of Notes was designated generally as “Variable Funding Rental Car Asset Backed Notes, Series 20152010-36.” The Series 20152010-3 6 Notes were issued in three two Classes, the first of which is known as the “Class A Notes”, the second of which is known as the “Class B Notes” and the third second of which is known as the “Class R Notes.” As of the date hereof, ABRCF has issued (i) one tranche of Class A Notes, which was designated as the “Series 20152010-3 6 Variable Funding Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class B” and (iiiii) one tranche of Class R Notes, which was designated as the “Series 20152010-3 6 Variable Funding Rental Car Asset Backed Notes, Class R.” The Class A Notes, the Class B Notes and the Class R Notes constitute the Series 20152010-3 6 Notes. The Class B R Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 20152010-3 6 Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 20152010-3 6 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152010-3 6 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There was created a Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement Prior Supplement, and such Series of Notes was designated generally as the Variable Funding Series 2013-1 Rental Car Asset Backed Notes, Series 2015-3.” The Series 20152013-3 1 Notes were permitted to be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is shall be known as the “Class R C Notes.” As of ”. NEWYORK 8960494 (2K)A&R Series 2013-1 Supplement (Class C Note issuance) 1 On the date hereofSeries 2013-1 Closing Date, ABRCF has issued (i) one tranche of Class A Notes, which was designated as the “Series 20152013-3 Variable Funding 1 1.92% Rental Car Asset Backed Notes, Class A”, ” and (ii) one tranche of Class B Notes, which was designated as the “Series 20152013-3 Variable Funding 1 2.62% Rental Car Asset Backed Notes, Class B” and (iii) ”. On the Class C Notes Closing Date, ABRCF shall issue one tranche of Class R C Notes, which was shall be designated as the “Series 20152013-3 Variable Funding 1 4.42% Rental Car Asset Backed Notes, Class R.” C”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, together, constitute the Series 20152013-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes and Class B Notes were deposited in the Collection Account and were paid deemed to ABRCF be Principal Collections, and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date proceeds of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans Class C Notes shall be deposited in the Collection Account and shall be deemed to be Principal Collections. The Series 20152013-3 1 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and Investor Certificates to be issued pursuant to the Base Indenture Agreement and the Original this Series 2015-3 Supplement and such Series of Notes was designated generally as “Variable Funding Rental Car Asset Backed Notes, Series 2015-3.” The Series 2015-3 Notes were issued in three Classes, the first of which is to be known as the “Class A Notes”"Collateral Certificates." The Transferor and the Servicer each hereby enter into this Series Supplement with the Trustee as required by Section 6.9(c) of the Agreement to provide for the issuance, authentication and delivery of the Collateral Certificates. The Collateral Certificates will be transferred by the Transferor to FNANB Credit Card Master Note Trust (the "Note Trust") pursuant to a Transfer and Servicing Agreement dated as of July 1, 2002 (the "Transfer and Servicing Agreement") among the Transferor, the second of which is known as the “Class B Notes” Servicer and the third Note Trust. The Note Trust will pledge the Collateral Certificates as collateral for one or more series of which is known notes (each, a "Note Series") to be issued by the Note Trust pursuant to a Master Indenture dated as of July 1, 2002 between the “Class R Notes.” As Note Trust and JPMorgan Chase Bank, as indenture trustee, and one or more supplements to the Master Indenture (each, an "Indenture Supplement" and, together with the Master Indenture referred to above, the "Indenture"). The portions of the date hereof, ABRCF has issued (i) one tranche of Class A Notes, which was designated as the “Collateral Certificates primarily securing each Note Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class B” and (iii) one tranche of Class R Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class R.” The Class A Notes, the Class B Notes and the Class R Notes constitute the Series 2015-3 Notes. The Class B Notes shall be subordinated treated as separate Series (each, a "Collateral Series") under the Agreement and this Series Supplement. Certain terms pertaining to each Collateral Series will be defined in right of payment to the Class A Notesapplicable Indenture Supplements (but are hereby incorporated by reference into this Series Supplement), to the extent set forth herein. The Class R Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notesincluding whether such Collateral Series is a Principal Sharing Series, to the extent set forth herein. The proceeds from the initial sale whether such Collateral Series is one of the Series 2015-3 Notes were deposited in of Group One and the Collection Account Minimum Transferor Interest Percentage and were paid Minimum Aggregate Principal Receivables for such Collateral Series. Unless and until the Trust has been terminated as permitted by Section 3(b) of this Series Supplement: (a) each Indenture Supplement executed and delivered by the Note Trust shall be deemed to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original supplement this Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans ; (b) a new Collateral Series shall be deemed to be Principal Collectionsissued upon the issuance of each Note Series and shall have the same designation (e.g., Series 2002-A) and Classes and belong to the same Group as the related Note Series; (c) the amounts payable as interest and principal on such Collateral Series shall equal the aggregate of the amounts payable on the related Note Series and shall be payable at the times and in the amounts specified in the Indenture Supplement for such Note Series, (d) all amounts available and applied as credit enhancement with respect to such Note Series shall be deemed to be available and applied as credit enhancement with respect to such Collateral Series; (e) all amounts payable to the Transferor pursuant to the related Indenture Supplement shall be deemed to be payable to the Transferor pursuant to this Series Supplement; and (f) the conditions defined in Section 6.9 of the Agreement for issuance of new Series must be satisfied in connection with each issuance of a Note Series. The Series 2015-3 Notes are provisions of Section 6.9(b) of the Agreement with respect to the delivery of an Opinion of Counsel to the effect that a non-Segregated newly issued Series of Notes Investor Certificates will be characterized as either indebtedness or an interest in a partnership (that is not taxable as more fully described in a corporation) under existing law for federal income tax purposes shall not be applicable to the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of NotesCollateral Certificates.

Appears in 1 contract

Samples: Collateral Series Supplement (Dc Funding International Inc)

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2017-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152017-3 2 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2017-2 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152017-3 Variable Funding 2 2.97% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152017-3 Variable Funding 2 3.33% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2017-2 4.17% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 2015-3 Variable Funding 2017 6.50% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2017-2 Closing Date, ABRCF may on any date during the Series 2017-2 Revolving Period offer and sell additional Series 2017-2 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2017-2 Notes, if issued, shall be designated as the “Series 2017-2 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152017-3 2 Notes. The Class B Notes shall be subordinated AMERICAS 93983148 (2K) 1 in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152017-3 2 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There was created a Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement Prior Supplement, and such Series of Notes was designated generally as the Variable Funding Series 2013-2 Rental Car Asset Backed Notes, Series 2015-3.” The Series 20152013-3 2 Notes were permitted to be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2013-2 Closing Date, ABRCF has issued (i) one tranche of Class A Notes, which was designated as the “Series 20152013-3 Variable Funding 2 2.97% Rental Car Asset Backed Notes, Class A”, ” and (ii) one tranche of Class B Notes, which was designated as the “Series 20152013-3 Variable Funding 2 3.66% Rental Car Asset Backed Notes, Class B” and (iii) ”. On the Class C Notes Closing Date, ABRCF shall issue one tranche of Class R C Notes, which was shall be designated as the “Series 20152013-3 Variable Funding 2 3.52% Rental Car Asset Backed Notes, Class R.” C”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, together, constitute the Series 20152013-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes and Class B Notes were deposited in the Collection Account and were paid deemed to ABRCF be Principal Collections, and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date proceeds of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans Class C Notes shall be deposited in the Collection Account and shall be deemed to be Principal Collections. The Series 20152013-3 2 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2015-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 2015-3 1 Notes were shall be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2015-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 2015-3 Variable Funding 1 2.50% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 2015-3 Variable Funding 1 3.22% Rental Car Asset Backed Notes, Class B” and (iii) one tranche of Class R C Notes, which was shall be designated as the “Series 2015-3 Variable Funding 1 3.96% Rental Car Asset Backed Notes, Class R.” C”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, together, constitute the Series 2015-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 1 Notes were shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 2015-3 1 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There was created a Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement Prior Supplement, and such Series of Notes was designated generally as the Variable Funding Series 2018-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152018-3 2 Notes were permitted to be issued in three up to five Classes, the first of which is known as the “Class A Notes”, the second of which is known as the “Class B Notes” and ”, the third of which is known as the “Class C Notes”, the fourth of which is known as the “Class R Notes.As and the fifth of which shall be known as the date hereof“Class D Notes”. On the Class A/B/C Notes Closing Date, ABRCF has issued (i) one tranche of Class A Notes, which was Notes designated as the “Series 20152018-3 Variable Funding 2 4.00% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was Notes designated as the “Series 20152018-3 Variable Funding 2 4.27% Rental Car Asset Backed Notes, Class B” and ”, (iii) one tranche of Class R Notes, which was C Notes designated as the “Series 20152018-3 Variable Funding 2 4.95% Rental Car Asset Backed Notes, Class R.Cand (iv) one tranche of Class R Notes designated the “Series 2018-2 6.326% Rental Car Asset Backed Notes, Class R”. On the Class D Notes Closing Date, ABRCF shall issue (i) one tranche of Class D Notes designated as the “Series 2018-2 Rental Car Asset Backed Notes, Class D” and (ii) Additional Class R Notes. The Class A Notes, the Class B Notes, Class C Notes, Class D Notes and the Class R Notes collectively, constitute the Series 20152018-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes and Class R Notes were deposited in the Collection Account and were paid deemed to ABRCF be Principal Collections, and used to make Loans under the Loan Agreements to proceeds from the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date sale of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans Class D Notes and Additional Class R Notes shall be deposited in the Collection Account and shall be deemed to be Principal Collections. The Series 20152018-3 2 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There was created a Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement Prior Supplement, and such Series of Notes was designated generally as the Variable Funding Series 2017-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152017-3 2 Notes were permitted to be issued in three up to five Classes, the first of which is known as the “Class A Notes”, the second of which is known as the “Class B Notes” and ”, the third of which is known as the “Class C Notes”, the fourth of which is known as the “Class R Notes.As and the fifth of which shall be known as the date hereof“Class D Notes”. On the Class A/B/C Notes Closing Date, ABRCF has issued (i) one tranche of Class A Notes, which was Notes designated as the “Series 20152017-3 Variable Funding 2 2.97% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was Notes designated as the “Series 20152017-3 Variable Funding 2 3.33% Rental Car Asset Backed Notes, Class B” and ”, (iii) one tranche of Class R Notes, which was C Notes designated as the “Series 20152017-3 Variable Funding 2 4.17% Rental Car Asset Backed Notes, Class R.Cand (iv) one tranche of Class R Notes designated the “Series 2017-2 6.50% Rental Car Asset Backed Notes, Class R”. On the Class D Notes Closing Date, ABRCF shall issue (i) one tranche of Class D Notes designated as the “Series 2017-2 4.56% Rental Car Asset Backed Notes, Class D” and (ii) the Additional Class R Notes. The Class A Notes, the Class B Notes, Class C Notes, Class D Notes and the Class R Notes collectively, constitute the Series 20152017-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes and Class R Notes were deposited in the Collection Account and were paid deemed to ABRCF be Principal Collections, and used to make Loans under the Loan Agreements to proceeds from the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date sale of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans Class D Notes and the Additional Class R Notes shall be deposited in the Collection Account and shall be deemed to be Principal Collections. The Series 20152017-3 2 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 20152010-3 6 Supplement and such Series of Notes was designated generally as “Variable Funding Rental Car Asset Backed Notes, Series 20152010-36.” The As of the date hereof, the Series 20152010-3 6 Notes were shall be issued in three two Classes, the first of which is shall be known as the “Class A Notes”, ” and the second of which is known as the “Class B Notes” and the third of which is shall be known as the “Class R Notes.” As of On the date hereof, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152010-3 6 Variable Funding Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was designated as the “Series 2015-3 Variable Funding Rental Car Asset Backed Notes, Class B” and (iiiii) one tranche of Class R Notes, which was shall be designated as the “Series 20152010-3 6 Variable Funding Rental Car Asset Backed Notes, Class R.” The Class A Notes, the Class B Notes and the Class R Notes constitute the Series 20152010-3 6 Notes. The Class B R Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 20152010-3 6 Notes were deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 20152010-3 6 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152010-3 6 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There was created a Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement Prior Supplement, and such Series of Notes was designated generally as the Variable Funding Series 2012-3 Rental Car Asset Backed Notes, Series 2015-3.” The Series 20152012-3 Notes were permitted to be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is shall be known as the “Class R C Notes.” As of ”. NEWYORK 8960493 (2K)A&R Series 2012-3 Supplement (Class C Note issuance) 1 On the date hereofSeries 2012-3 Closing Date, ABRCF has issued (i) one tranche of Class A Notes, which was designated as the “Series 20152012-3 Variable Funding 2.10% Rental Car Asset Backed Notes, Class A”, ” and (ii) one tranche of Class B Notes, which was designated as the “Series 20152012-3 Variable Funding 3.04% Rental Car Asset Backed Notes, Class B” and (iii) ”. On the Class C Notes Closing Date, ABRCF shall issue one tranche of Class R C Notes, which was shall be designated as the “Series 20152012-3 Variable Funding 4.23% Rental Car Asset Backed Notes, Class R.” C”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, together, constitute the Series 20152012-3 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes and Class B Notes were deposited in the Collection Account and were paid deemed to ABRCF be Principal Collections, and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date proceeds of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans Class C Notes shall be deposited in the Collection Account and shall be deemed to be Principal Collections. The Series 20152012-3 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2013-2 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152013-3 2 Notes were shall be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is which, if issued, shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2013-2 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152013-3 Variable Funding 2 2.97% Rental Car Asset Backed Notes, Class A”, ” and (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152013-3 Variable Funding 2 3.66% Rental Car Asset Backed Notes, Class B”. Subsequent to the Series 2013-2 Closing Date, ABRCF may on any date during the Series 2013-2 Revolving Period offer and (iii) one tranche of Class R sell additional Series 2013-2 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2013-2 Notes, which was if issued, shall be designated as the “Series 20152013-3 Variable Funding 2 Fixed Rate Rental Car Asset Backed Notes, Class R.” C”, and shall be referred to herein as the “Class C Notes”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, if issued, together, constitute the Series 20152013-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes C Notes, if issued, shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes were and Class B Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152013-3 2 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There was created a Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement Prior Supplement, and such Series of Notes was designated generally as the Variable Funding Series 2020-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152020-3 1 Notes were permitted to be issued in three up to five Classes, the first of which is known as the “Class A Notes”, the second of which is known as the “Class B Notes” and ”, the third of which is known as the “Class C Notes”, the fourth of which is known as the “Class R Notes.As and the fifth of which shall be known as the date hereof“Class D Notes”. On the Class A/B/C Notes Closing Date, ABRCF has issued (i) one tranche of Class A Notes, which was Notes designated as the “Series 20152020-3 Variable Funding 1 2.33% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was Notes designated as the “Series 20152020-3 Variable Funding 1 2.68% Rental Car Asset Backed Notes, Class B” and ”, (iii) one tranche of Class R Notes, which was C Notes designated as the “Series 20152020-3 Variable Funding 1 3.02% Rental Car Asset Backed Notes, Class R.Cand (iv) one tranche of Class R Notes designated the “Series 2020-1 4.753% Rental Car Asset Backed Notes, Class R”. On the Class D Notes Closing Date, ABRCF shall issue (i) one tranche of Class D Notes designated as the “Series 2020-1 Rental Car Asset Backed Notes, Class D” and (ii) Additional Class R Notes. The Class A Notes, the Class B Notes, Class C Notes, Class D Notes and the Class R Notes collectively, constitute the Series 20152020-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes and Class R Notes were deposited in the Collection Account and were paid deemed to ABRCF be Principal Collections, and used to make Loans under the Loan Agreements to proceeds from the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date sale of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans Class D Notes and Additional Class R Notes shall be deposited in the Collection Account and shall be deemed to be Principal Collections. The Series 20152020-3 1 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as “Variable Funding the Series 2011-2 Rental Car Asset Backed Notes, Series 2015-3.” . The Series 20152011-3 2 Notes were shall be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is which, if issued, shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2011-2 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the Series 20152011-3 Variable Funding 2 2.37% Rental Car Asset Backed Notes, Class A”, A and (ii) one tranche of Class B Notes, which was shall be designated as the Series 20152011-3 Variable Funding 2 3.65% Rental Car Asset Backed Notes, Class B” B. Subsequent to the Series 2011-2 Closing Date, ABRCF may on any date during the Series 2011-2 Revolving Period offer and (iii) one tranche of Class R sell additional Series 2011-2 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2011-2 Notes, which was if issued, shall be designated as the Series 20152011-3 Variable Funding 2 Fixed Rate Rental Car Asset Backed Notes, Class R.” C, and shall be referred to herein as the “Class C Notes”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, if issued, together, constitute the Series 20152011-3 2 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes C Notes, if issued, shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes were and Class B Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152011-3 2 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2022-5 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152022-3 5 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2022-5 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152022-3 Variable Funding 5 6.12% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152022-3 Variable Funding 5 7.09% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2022-5 9.27% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152022-3 Variable Funding 5 11.162% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2022-5 Closing Date, ABRCF may on any date during the Series 2022-5 Revolving Period offer and sell additional Series 2022-5 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2022-5 Notes, if issued, shall be designated as the “Series 2022-5 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152022-3 5 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152022-3 5 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as “Variable Funding the Series 2010-5 Rental Car Asset Backed Notes, Series 2015-3.” . The Series 20152010-3 5 Notes were shall be issued in three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is shall be known as the “Class R C Notes.” As of ”. On the date hereofClosing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the Series 20152010-3 Variable Funding 5 3.15% Rental Car Asset Backed Notes, Class A, (ii) one tranche of Class B Notes, which was shall be designated as the Series 20152010-3 Variable Funding 5 5.11% Rental Car Asset Backed Notes, Class B” B and (iii) one tranche of Class R C Notes, which was shall be designated as the Series 20152010-3 Variable Funding 5 5.94% Rental Car Asset Backed Notes, Class R.” C. The Class A Notes, the Class B Notes and the Class R Notes C Notes, together, constitute the Series 20152010-3 5 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 20152010-3 5 Notes were shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152010-3 5 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2023-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152023-3 1 Notes were shall be issued in three up to five Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and ”, the third of which is shall be known as the “Class C Notes”, the fourth of which shall be known as the “Class R Notes.As and the fifth of which, if issued, shall be known as the date hereof“Class D Notes”. On the Series 2023-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 1 5.25% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 1 6.08% Rental Car Asset Backed Notes, Class B”, (iii) one tranche of Class C Notes, which shall be designated as the “Series 2023-1 8.70% Rental Car Asset Backed Notes, Class C” and (iiiiv) one tranche of Class R Notes, which was shall be designated as the “Series 20152023-3 Variable Funding 1 10.623% Rental Car Asset Backed Notes, Class R.R”. Subsequent to the Series 2023-1 Closing Date, ABRCF may on any date during the Series 2023-1 Revolving Period offer and sell additional Series 2023-1 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2023-1 Notes, if issued, shall be designated as the “Series 2023-1 Rental Car Asset Backed Notes, Class Dand shall be referred to herein as the “Class D Notes”. The Class A Notes, the Class B Notes Notes, Class C Notes, Class D Notes, if issued, and the Class R Notes collectively, constitute the Series 20152023-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and (if issued) the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes were and Class R Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152023-3 1 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement this Supplement, and such Series of Notes was shall be designated generally as the Variable Funding Series 2012-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152012-3 1 Notes were shall be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is which, if issued, shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2012-1 Closing Date, ABRCF has issued shall issue (i) one tranche of Class A Notes, which was shall be designated as the “Series 20152012-3 Variable Funding 1 2.054% Rental Car Asset Backed Notes, Class A”, ” and (ii) one tranche of Class B Notes, which was shall be designated as the “Series 20152012-3 Variable Funding 1 3.241% Rental Car Asset Backed Notes, Class B”. Subsequent to the Series 2012-1 Closing Date, ABRCF may on any date during the Series 2012-1 Revolving Period offer and (iii) one tranche of Class R sell additional Series 2012-1 Notes subject to the conditions set forth in Section 5.15. Such additional Series 2012-1 Notes, which was if issued, shall be designated as the “Series 20152012-3 Variable Funding 1 Fixed Rate Rental Car Asset Backed Notes, Class R.” C”, and shall be referred to herein as the “Class C Notes”. The Class A Notes, the Class B Notes and the Class R Notes C Notes, if issued, together, constitute the Series 20152012-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R Notes C Notes, if issued, shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes were and Class B Notes shall be deposited in the Collection Account and were paid to ABRCF and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans shall be deemed to be Principal Collections. The Series 20152012-3 1 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There was created a Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement Prior Supplement, and such Series of Notes was designated generally as “Variable Funding the Series 2011-3 Rental Car Asset Backed Notes, Series 2015-3.” . The Series 20152011-3 Notes were permitted to be issued in up to three Classes, the first of which is shall be known as the “Class A Notes”, the second of which is shall be known as the “Class B Notes” and the third of which is shall be known as the “Class R C Notes.” As of ”. On the date hereofSeries 2011-3 Closing Date, ABRCF has issued (i) one tranche of Class A Notes, which was designated as the Series 20152011-3 Variable Funding 3.41% Rental Car Asset Backed Notes, Class A”, A and (ii) one tranche of Class B Notes, which was designated as the Series 20152011-3 Variable Funding 4.74% Rental Car Asset Backed Notes, Class B” and (iii) B. On the Class C Notes Closing Date, ABRCF shall issue one tranche of Class R C Notes, which was shall be designated as the Series 20152011-3 Variable Funding 3.68% Rental Car Asset Backed Notes, Class R.” C. The Class A Notes, the Class B Notes and the Class R Notes C Notes, together, constitute the Series 20152011-3 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The proceeds from the initial sale of the Series 2015-3 Class A Notes and Class B Notes were deposited in the Collection Account and were paid deemed to ABRCF be Principal Collections, and used to make Loans under the Loan Agreements to the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date proceeds of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans Class C Notes shall be deposited in the Collection Account and shall be deemed to be Principal Collections. The Series 20152011-3 Notes are a non-Segregated non‑Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Designation. A There is hereby created a Series of Notes was created and to be issued pursuant to the Base Indenture and the Original this Series 2015-3 Supplement and such Series of Notes was shall be designated generally as “Variable Funding Series 2005-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152005-3 1 Notes were (as defined herein) shall be issued in three Classes, six classes: (i) the first of which is known as the “Class A Notes”, the second of which is known as the “Class B Notes” and the third of which is known as the “Class R Notes.” As of the date hereof, ABRCF has issued (i) one tranche of Class A Notes, which was shall be designated as the Series 20152005-3 Variable Funding 1 4.02% Rental Car Asset Backed Notes, Class AA-1, and referred to herein as the “Class A-1 Notes”, (ii) one tranche the second of Class B Notes, which was shall be designated as the Series 20152005-3 Variable Funding 1 Floating Rate Rental Car Asset Backed Notes, Class B” A-2, and referred to herein as the “Class A-2 Notes”, (iii) one tranche the third of Class R Notes, which was shall be designated as the Series 20152005-3 Variable Funding 1 4.29% Rental Car Asset Backed Notes, Class R.A-3, and referred to herein as the “Class A-3 Notesand (iv) the fourth of which shall be designated as the Series 2005-1 Floating Rate Rental Car Asset Backed Notes, Class A-4, and referred to herein as the “Class A-4 Notes”. The Class A A-1 Notes, the Class B A-2 Notes, the Class A-3 Notes and the Class R A-4 Notes constitute are collectively referred to herein as the Series 20152005-3 1 Notes. The Class B Series 2005-1 Notes shall be subordinated issued in right minimum denominations of payment to the Class A Notes, to the extent set forth herein$200,000 and integral multiples of $1,000 in excess thereof. The Class R Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The net proceeds from the initial sale of the Series 20152005-3 1 Notes were shall be deposited in the Series 2005-1 Collection Account and were paid to ABRCF and used to make Loans under fund increases in the Loan Agreements principal amounts of the Leasing Company Notes to the extent that the Borrowers had Leasing Companies have requested Loans funding thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date to make payments in reduction of the Original Invested Amount of other Series 2015-3 Supplement. Any such portion of proceeds not so used Group I Notes from time to make Loans shall be deemed to be Principal Collectionstime. The Series 20152005-3 1 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture)) sharing in the Collateral. Accordingly, all references in this Series Supplement to “all” Series of Notes (and all references in this Series Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes. In addition, the Series 2005-1 Notes are hereby designated as a Series of Group I Notes and this Series Supplement is hereby designated as a Group I Supplement. The Series 2005-1 Notes do not have any rights in any collateral granted to the Trustee other than the Collateral.

Appears in 1 contract

Samples: Vanguard Car Rental Group Inc.

Designation. A There was created a Series of Notes was created and issued pursuant to the Base Indenture and the Original Series 2015-3 Supplement Prior Supplement, and such Series of Notes was designated generally as the Variable Funding Series 2018-1 Rental Car Asset Backed Notes, Series 2015-3.” ”. The Series 20152018-3 1 Notes were permitted to be issued in three up to five Classes, the first of which is known as the “Class A Notes”, the second of which is known as the “Class B Notes” and ”, the third of which is known as the “Class C Notes”, the fourth of which is known as the “Class R Notes.As and the fifth of which shall be known as the date hereof“Class D Notes”. On the Class A/B/C Notes Closing Date, ABRCF has issued (i) one tranche of Class A Notes, which was Notes designated as the “Series 20152018-3 Variable Funding 1 3.70% Rental Car Asset Backed Notes, Class A”, (ii) one tranche of Class B Notes, which was Notes designated as the “Series 20152018-3 Variable Funding 1 4.00% Rental Car Asset Backed Notes, Class B” and ”, (iii) one tranche of Class R Notes, which was C Notes designated as the “Series 20152018-3 Variable Funding 1 4.73% Rental Car Asset Backed Notes, Class R.Cand (iv) one tranche of Class R Notes designated the “Series 2018-1 6.354% Rental Car Asset Backed Notes, Class R”. On the Class D Notes Closing Date, ABRCF shall issue (i) one tranche of Class D Notes designated as the “Series 2018-1 5.25% Rental Car Asset Backed Notes, Class D” and (ii) the Additional Class R Notes. The Class A Notes, the Class B Notes, Class C Notes, Class D Notes and the Class R Notes collectively, constitute the Series 20152018-3 1 Notes. The Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class R C Notes shall be subordinated in right of payment to the Class A Notes and the Class B Notes, to the extent set forth herein. The Class D Notes shall be subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes. The proceeds from the initial sale of the Series 2015-3 Class A Notes, Class B Notes, Class C Notes and Class R Notes were deposited in the Collection Account and were paid deemed to ABRCF be Principal Collections, and used to make Loans under the Loan Agreements to proceeds from the extent that the Borrowers had requested Loans thereunder and Eligible Vehicles were available for acquisition or refinancing thereunder on the date sale of the Original Series 2015-3 Supplement. Any such portion of proceeds not so used to make Loans Class D Notes and the Additional Class R Notes shall be deposited in the Collection Account and shall be deemed to be Principal Collections. The Series 20152018-3 1 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to “all” Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

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