Avis 2006 Annual Report Download - page 152

(ii) on each Distribution Date during the Series 2005-2 Rapid Amortization Period, (1) first, to each Series 2005-2 Interest Rate
Swap Counterparty, an amount equal to the Fixed Rate Payment for such Distribution Date due and owing to such Series 2005-2 Interest
Rate Swap Counterparty, (2) second, to the Surety Provider, in an amount equal to (x) the Surety Provider Fee for the related Series 2005-
2 Interest Period and, without duplication, (y) any Surety Provider Reimbursement Amounts then due and owing, (3) third, to the Trustee,
an amount equal to the Series 2005-2 Percentage as of the beginning of such Series 2005-2 Interest Period ending on the day preceding
such Distribution Date of the fees owing to the Trustee under the Indenture for such Series 2005-2 Interest Period, (4) fourth, to the
Administrator, an amount equal to the Series 2005-2 Percentage as of the beginning of such Series 2005-2 Interest Period of the portion
of the Monthly Administration Fee (as specified in clause (iii) of the definition thereof) payable by CRCF for such Series 2005-2 Interest
Period, (5) fifth, to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are
owed, an amount equal to the Series 2005-2 Percentage as of the beginning of such Series 2005-2 Interest Period of such Carrying
Charges (other than Carrying Charges provided for above) for such Series 2005-2 Interest Period, (6) sixth, so long as the Series 2005-2
Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the
Series 2005-2 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall be treated as Principal
Collections and (7) seventh, to each Series 2005-2 Interest Rate Swap Counterparty, any amounts due and owing under the applicable
Series 2005-2 Interest Rate Swap (other than any Fixed Rate Payment).
(g) Shortfalls . If the amounts described in Section 2.3 are insufficient to pay the Series 2005-
2 Monthly Interest on any Distribution
Date, payments of interest to the Series 2005-2 Noteholders will be reduced on a pro rata
basis by the amount of such deficiency. The aggregate
amount, if any, of such deficiency on any Distribution Date shall be referred to as the “ Series 2005-2 Shortfall .” Interest shall accrue on any
Series 2005-2 Shortfall at the Series 2005-2 Note Rate.
(h) Listing Information Requirement . From the time of the Administrator’s written notice to the Trustee that the Series 2005-2
Notes are listed on the Luxembourg Stock Exchange until the Administrator shall give the Trustee written notice that the Series 2005
-2 Notes
are not listed on the Luxembourg Stock Exchange, the Trustee shall, or shall instruct the Paying Agent to, cause each of (i) the Series 2005-2
Note Rate for the next succeeding Series 2005
-2 Interest Period, (ii) the number of days in such Series 2005-2 Interest Period, (iii) the
Distribution Date for such Series 2005-2 Interest Period and (iv) the amount of interest payable on the Series 2005-2 Notes on such
Distribution Date to be (A) communicated to DTC, Euroclear, Clearstream, the Paying Agent in Luxembourg and the Luxembourg Stock
Exchange no later than 11:00 a.m. (London time) on the Business Day immediately following each LIBOR Determination Date and (B) if the
rules of the Luxembourg Stock Exchange so require, as notified by the Administrator to the Trustee in writing, published at CRCF’
s expense in
the Authorized Newspaper as soon as possible after the determination of the Series 2005-2 Note Rate for the applicable Series 2005-2 Interest
Period unless the Administrator notifies the Trustee in writing that such publication is no longer required.
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