Examples of Series 2003-5 Notes in a sentence
Notwithstanding anything to the contrary contained in the Base Indenture, no discharge of the Indenture pursuant to Section 11.1(b) of the Base Indenture will be effective as to the Series 2003-5 Notes without the consent of the Required Noteholders.
The Series 2003-5 Notes will be issued in two classes: one of which shall be designated as the Series 2003-5 2.78% Rental Car Asset Backed Notes, Class A-1 and one of which shall be designated as the Series 2003-5 Floating Rate Rental Car Asset Backed Notes, Class A-2.
Except for any period during which a Surety Default is continuing, the Surety Provider shall be deemed to be the holder of 100% of the Series 2003-5 Notes for the purposes of giving any consents, waivers, approvals, instructions, directions, requests, declarations and/or notices pursuant to the Base Indenture and this Supplement.
Anything herein to the contrary notwithstanding, any distribution of principal of or interest on the Series 2003-5 Notes that is made with moneys received pursuant to the terms of the Surety Bond shall not (except for the purpose of calculating the Principal Deficit Amount) be considered payment of the Series 2003-5 Notes by AFC-II.
The Surety Provider shall constitute an “Enhancement Provider” with respect to the Series 2003-5 Notes for all purposes under the Indenture and the other Related Documents.
Furthermore, the Surety Provider shall be deemed to be a “Secured Party” under the Base Indenture and the Related Documents to the extent of amounts payable to the Surety Provider pursuant to this Supplement and the Insurance Agreement shall constitute an “Enhancement Agreement” with respect to the Series 2003-5 Notes for all purposes under the Indenture and the Related Documents.
The Series 2003-5 Notes are a non-Segregated Series of Notes (as more fully described in the Base Indenture).
On the Distribution Date following each such Determination Date, the Trustee shall withdraw the amount allocated to the Series 2003-5 Notes during the Related Month pursuant to Section 2.2(b)(ii), (c)(ii) or (d)(ii), as the case may be, from the Series 2003-5 Collection Account and deposit such amount in the Series 2003-5 Distribution Account, to be paid to the holders of the Series 2003-5 Notes.
The proceeds from the sale of the Series 2003-5 Notes shall be deposited in the Collection Account and shall be paid to AFC-II and used to make Loans under the Loan Agreements to the extent that the Borrowers have requested Loans thereunder and Eligible Vehicles are available for acquisition or refinancing thereunder on the date hereof.
Unless otherwise stated herein, as the context otherwise requires or if such term is otherwise defined in the Base Indenture, each capitalized term used or defined herein shall relate only to the Series 2003-5 Notes and not to any other Series of Notes issued by AFC-II.