Common use of Reserve Account Withdrawal Clause in Contracts

Reserve Account Withdrawal. If the Series 2003-5 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2003-5 Reserve Account, an amount equal to the lesser of (x) the Series 2003-5 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 2003-5 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 2003-5 Distribution Account on such Distribution Date.

Appears in 2 contracts

Samples: Avis Group Holdings Inc, Cendant Corp

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Reserve Account Withdrawal. If the Series 2003-5 4 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2003-5 4 Reserve Account, an amount equal to the lesser of (x) the Series 2003-5 4 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 2003-5 4 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 2003-5 4 Distribution Account on such Distribution Date.

Appears in 2 contracts

Samples: Avis Group Holdings Inc, Avis Group Holdings Inc

Reserve Account Withdrawal. If the Series 2003-5 3 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2003-5 3 Reserve Account, an amount equal to the lesser of (x) the Series 2003-5 3 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 2003-5 3 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 2003-5 3 Distribution Account on such Distribution Date.

Appears in 2 contracts

Samples: Avis Group Holdings Inc, Avis Group Holdings Inc

Reserve Account Withdrawal. If the Series 20032012-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032012-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032012-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032012-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032012-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032020-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032020-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032020-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032020-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032020-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032023-5 Allocated Multi-Series Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032023-5 Reserve Account, an amount equal to the lesser of (x) the Series 20032023-5 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032023-5 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032023-5 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032016-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032016-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032016-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032016-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032016-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032021-5 1 Allocated Multi-Series Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032021-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032021-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032021-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032021-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032023-5 7 Allocated Multi-Series Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032023-5 7 Reserve Account, an amount equal to the lesser of (x) the Series 20032023-5 7 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032023-5 7 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032023-5 7 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032012-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032012-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032012-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032012-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032012-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032011-5 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032011-5 Reserve Account, an amount equal to the lesser of (x) the Series 20032011-5 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032011-5 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032011-5 Distribution Account on such Distribution Date.

Appears in 1 contract

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

Reserve Account Withdrawal. If the Series 20032020-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032020-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032020-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032020-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032020-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032010-5 4 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032010-5 4 Reserve Account, an amount equal to the lesser of (x) the Series 20032010-5 4 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032010-5 4 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032010-5 4 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032012-5 3 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032012-5 3 Reserve Account, an amount equal to the lesser of (x) the Series 20032012-5 3 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032012-5 3 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032012-5 3 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032002-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032002-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032002-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032002-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d3.5(e) and deposit it in the Series 20032002-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Operating Lease Loan Agreement (Avis Group Holdings Inc)

Reserve Account Withdrawal. If the Series 20032017-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032017-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032017-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032017-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032017-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032009-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032009-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032009-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032009-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032009-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032013-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032013-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032013-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032013-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032013-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032014-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032014-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032014-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032014-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032014-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032005-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032005-5 2 Reserve Account, an amount equal to the lesser of (x) the amount on deposit in the Series 20032005-5 Available 2 Reserve Account Amount (after giving effect to the distribution of any amounts in the Series 2005-2 Reserve Account made pursuant to Section 2.3(d) on such Distribution Date) and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032005-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032005-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032023-5 3 Allocated Multi-Series Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032023-5 3 Reserve Account, an amount equal to the lesser of (x) the Series 20032023-5 3 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032023-5 3 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032023-5 3 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032005-5 4 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032005-5 4 Reserve Account, an amount equal to the lesser of (x) the Series 20032005-5 4 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032005-5 4 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032005-5 4 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Cendant Corp

Reserve Account Withdrawal. If the Series 20032015-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032015-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032015-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032015-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032015-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032016-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032016-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032016-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032016-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032016-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032011-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032011-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032011-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032011-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032011-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032024-5 1 Allocated Multi-Series Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032024-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032024-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032024-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032024-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 2003-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2003-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 2003-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 2003-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 2003-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Group Holdings Inc

Reserve Account Withdrawal. If the Series 20032006-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032006-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032006-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032006-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032006-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Cendant Corp

Reserve Account Withdrawal. If the Series 20032019-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032019-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032019-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032019-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032019-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032023-5 1 Allocated Multi-Series Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032023-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032023-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032023-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032023-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032023-5 8 Allocated Multi-Series Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032023-5 8 Reserve Account, an amount equal to the lesser of (x) the Series 20032023-5 8 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032023-5 8 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032023-5 8 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032002-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032002-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032002-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032002-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032002-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Group Holdings Inc

Reserve Account Withdrawal. If the Series 20032023-5 2 Allocated Multi-Series Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032023-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032023-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032023-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032023-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032017-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032017-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032017-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032017-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032017-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032018-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032018-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032018-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032018-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032018-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

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Reserve Account Withdrawal. If the Series 20032005-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032005-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032005-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032005-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032005-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Cendant Corp

Reserve Account Withdrawal. If the Series 20032010-5 3 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032010-5 3 Reserve Account, an amount equal to the lesser of (x) the Series 20032010-5 3 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032010-5 3 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032010-5 3 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032019-5 3 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032019-5 3 Reserve Account, an amount equal to the lesser of (x) the Series 20032019-5 3 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032019-5 3 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032019-5 3 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032014-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032014-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032014-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032014-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032014-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032019-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032019-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032019-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032019-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032019-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032010-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032010-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032010-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032010-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032010-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

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

Reserve Account Withdrawal. If the Series 20032013-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032013-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032013-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032013-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032013-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032021-5 2 Allocated Multi-Series Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032021-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032021-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032021-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032021-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032023-5 4 Allocated Multi-Series Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032023-5 4 Reserve Account, an amount equal to the lesser of (x) the Series 20032023-5 4 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032023-5 4 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032023-5 4 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032004-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032004-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032004-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032004-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032004-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Cendant Corp

Reserve Account Withdrawal. If the Series 20032022-5 1 Allocated Multi-Series Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032022-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032022-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032022-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032022-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032023-5 6 Allocated Multi-Series Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032023-5 6 Reserve Account, an amount equal to the lesser of (x) the Series 20032023-5 6 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032023-5 6 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032023-5 6 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032022-5 Allocated Multi-Series Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032022-5 Reserve Account, an amount equal to the lesser of (x) the Series 20032022-5 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032022-5 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032022-5 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032011-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032011-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032011-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032011-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032011-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032010-5 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032010-5 Reserve Account, an amount equal to the lesser of (x) the Series 20032010-5 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032010-5 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032010-5 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032007-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032007-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032007-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032007-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032007-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032005-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032005-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032005-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032005-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032005-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032015-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032015-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032015-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032015-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032015-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032011-5 3 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032011-5 3 Reserve Account, an amount equal to the lesser of (x) the Series 20032011-5 3 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032011-5 3 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032011-5 3 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032018-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032018-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032018-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032018-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032018-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032009-5 1 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032009-5 1 Reserve Account, an amount equal to the lesser of (x) the Series 20032009-5 1 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032009-5 1 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 20032009-5 1 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If the Series 20032006-5 2 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20032006-5 2 Reserve Account, an amount equal to the lesser of (x) the Series 20032006-5 2 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 20032006-5 2 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d3.5(d) and deposit it in the Series 20032006-5 2 Distribution Account on such Distribution Date.

Appears in 1 contract

Samples: Cendant Corp

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