Common use of Reserve Account Withdrawal Clause in Contracts

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 2021-2 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), the amount to be deposited in the Series 2021-2 Distribution Account with respect to the Series 2021-2 Final Distribution Date is or will be less than the Series 2021-2 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Series 2021-2 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2021-2 Reserve Account, an amount equal to the lesser of the Series 2021-2 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 2021-2 Distribution Account on such Series 2021-2 Final Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

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Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 2021-2 1 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), the amount to be deposited in the Series 2021-2 1 Distribution Account with respect to the Series 2021-2 1 Final Distribution Date is or will be less than the Series 2021-2 1 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Series 2021-2 1 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2021-2 1 Reserve Account, an amount equal to the lesser of the Series 2021-2 1 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 2021-2 1 Distribution Account on such Series 2021-2 1 Final Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20212022-2 Distribution Account of the amount to be deposited in accordance with Section 2.5(a3.5(a), together with any amounts to be deposited therein in accordance with Section 3.5(c) and on the amounts described in clauses (i) and (ii) of this Section 2.5(c)Series 2022-2 Termination Date, the amount to be deposited in the Series 20212022-2 Distribution Account with respect to the Series 20212022-2 Final Distribution Termination Date is or will be less than the Series 2021-2 Senior Class A Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such the Series 20212022-2 Final Distribution Termination Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20212022-2 Reserve Account, an amount equal to the lesser of the Series 20212022-2 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20212022-2 Distribution Account on such the Series 20212022-2 Final Distribution Termination Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20212022-2 1 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), the amount to be deposited in the Series 20212022-2 1 Distribution Account with respect to the Series 20212022-2 1 Final Distribution Date is or will be less than the Series 20212022-2 1 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Series 20212022-2 1 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20212022-2 1 Reserve Account, an amount equal to the lesser of the Series 20212022-2 1 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20212022-2 1 Distribution Account on such Series 20212022-2 1 Final Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20212024-2 1 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), the amount to be deposited in the Series 20212024-2 1 Distribution Account with respect to the Series 20212024-2 1 Final Distribution Date is or will be less than the Series 20212024-2 1 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Series 20212024-2 1 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20212024-2 1 Reserve Account, an amount equal to the lesser of the Series 20212024-2 1 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20212024-2 1 Distribution Account on such Series 20212024-2 1 Final Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20212017-2 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), the amount to be deposited in the Series 20212017-2 Distribution Account with respect to the Series 20212017-2 Final Distribution Date is or will be less than the Series 20212017-2 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Series 20212017-2 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20212017-2 Reserve Account, an amount equal to the lesser of the Series 20212017-2 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20212017-2 Distribution Account on such Series 20212017-2 Final Distribution Date.. AMERICAS 93983148 (2K) 38

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20212019-2 3 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), the amount to be deposited in the Series 20212019-2 3 Distribution Account with respect to the Series 20212019-2 3 Final Distribution Date is or will be less than the Series 20212019-2 3 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Series 20212019-2 3 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20212019-2 3 Reserve Account, an amount equal to the lesser of the Series 20212019-2 3 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20212019-2 3 Distribution Account on such Series 20212019-2 3 Final Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20212017-2 1 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), the amount to be deposited in the Series 20212017-2 1 Distribution Account with respect to the Series 20212017-2 1 Final Distribution Date is or will be less than the Series 20212017-2 1 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Series 20212017-2 1 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20212017-2 1 Reserve Account, an amount equal to the lesser of the Series 20212017-2 1 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20212017-2 1 Distribution Account on such Series 20212017-2 1 Final Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

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Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20212020-2 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), the amount to be deposited in the Series 20212020-2 Distribution Account with respect to the Series 20212020-2 Final Distribution Date is or will be less than the Series 20212020-2 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Series 20212020-2 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20212020-2 Reserve Account, an amount equal to the lesser of the Series 20212020-2 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20212020-2 Distribution Account on such Series 20212020-2 Final Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20212018-2 1 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), the amount to be deposited in the Series 20212018-2 1 Distribution Account with respect to the Series 20212018-2 1 Final Distribution Date is or will be less than the Series 20212018-2 1 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Series 20212018-2 1 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20212018-2 1 Reserve Account, an amount equal to the lesser of the Series 20212018-2 1 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20212018-2 1 Distribution Account on such Series 20212018-2 1 Final Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20212016-2 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), the amount to be deposited in the Series 20212016-2 Distribution Account with respect to the Series 20212016-2 Final Distribution Date is or will be less than the Series 20212016-2 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Series 20212016-2 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20212016-2 Reserve Account, an amount equal to the lesser of the Series 20212016-2 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20212016-2 Distribution Account on such Series 20212016-2 Final Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

Reserve Account Withdrawal. If, after giving effect to the deposit into the Series 20212022-2 5 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), the amount to be deposited in the Series 20212022-2 5 Distribution Account with respect to the Series 20212022-2 5 Final Distribution Date is or will be less than the Series 20212022-2 5 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Series 20212022-2 5 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 20212022-2 5 Reserve Account, an amount equal to the lesser of the Series 20212022-2 5 Available Reserve Account Amount and such remaining insufficiency and deposit it in the Series 20212022-2 5 Distribution Account on such Series 20212022-2 5 Final Distribution Date.

Appears in 1 contract

Samples: Avis Budget Group, Inc.

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