Avis 2006 Annual Report Download - page 145

“ Waiver Request ” is defined in Article IV.
(c) Any amounts calculated by reference to the Series 2005-2 Invested Amount on any date shall, unless otherwise stated, be
calculated after giving effect to any payment of principal made on such date.
ARTICLE II
SERIES 2005-2 ALLOCATIONS
With respect to the Series 2005-2 Notes, the following shall apply:
Section 2.1 Establishment of Series 2005-2 Collection Account, Series 2005-2 Excess Collection Account and Series 2005-2
Accrued Interest Account . (a) All Collections allocable to the Series 2005-2 Notes shall be allocated to the Collection Account.
(b) The Trustee will create three administrative subaccounts within the Collection Account for the benefit of the Series 2005-2
Noteholders, each Series 2005
-2 Interest Rate Swap Counterparty and the Surety Provider: the Series 2005-2 Collection Account (such sub-
account, the “ Series 2005-2 Collection Account ”), the Series 2005-2 Excess Collection Account (such sub-account, the “ Series 2005-2
Excess Collection Account ”) and the Series 2005-2 Accrued Interest Account (such sub-account, the “ Series 2005-
2 Accrued Interest Account
”).
Section 2.2 Allocations with Respect to the Series 2005-2 Notes . The net proceeds from the initial sale of the Series 2005-2 Notes
will be deposited into the Collection Account. On each Business Day on which Collections are deposited into the Collection Account (each
such date, a “ Series 2005-2 Deposit Date ”), the Administrator will direct the Trustee in writing pursuant to the Administration Agreement to
allocate all amounts deposited into the Collection Account in accordance with the provisions of this Section 2.2:
(a) Allocations of Collections During the Series 2005-2 Revolving Period . During the Series 2005-2 Revolving Period, the
Administrator will direct the Trustee in writing pursuant to the Administration Agreement to allocate on each day, prior to 11:00 a.m.
(New York City time) on each Series 2005-2 Deposit Date, all amounts deposited into the Collection Account as set forth below:
(i) allocate to the Series 2005-2 Collection Account an amount equal to the sum of (A) the Series 2005-2 Invested Percentage
(as of such day) of the aggregate amount of Interest Collections on such day and (B) any amounts received by the Trustee on such
day in respect of the Series 2005-2 Interest Rate Swaps. All such amounts allocated to the Series 2005-2 Collection Account shall
be further allocated to the Series 2005-2 Accrued Interest Account; and
(ii) allocate to the Series 2005-2 Excess Collection Account an amount equal to the Series 2005-2 Invested Percentage (as of
such day) of the aggregate
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