Avis 2006 Annual Report Download - page 167

(ii) demand deposits, time deposits or certificates of deposit with a maturity in excess of 360 days;
(iii) commercial paper which is not rated “P-1” by Moody’s;
(iv) money market funds or eurodollar time deposits which are not rated at least “AAA” by Standard & Poor’s;
(v) eurodollar deposits that are not rated “P-1” by Moody’s or that are with financial institutions not organized under the laws of a
G-7 nation; or
(vi) any investment, instrument or security not otherwise listed in clause (i) through (vi) of the definition of “Permitted
Investments” in the Base Indenture that is not approved in writing by the Surety Provider.
Section 2.12 Series 2005-2 Demand Notes Constitute Additional Collateral for Series 2005-2 Notes . In order to secure and provide
for the repayment and payment of the CRCF Obligations with respect to the Series 2005-
2 Notes, CRCF hereby grants a security interest in and
assigns, pledges, grants, transfers and sets over to the Trustee, for the benefit of the Series 2005-2 Noteholders, each Series 2005-2 Interest
Rate Swap Counterparty and the Surety Provider, all of CRCF’s right, title and interest in and to the following (whether now or hereafter
existing or acquired): (i) the Series 2005-2 Demand Notes; (ii) all certificates and instruments, if any, representing or evidencing the Series
2005-2 Demand Notes; and (iii) all proceeds of any and all of the foregoing, including, without limitation, cash. On the date hereof, CRCF
shall deliver to the Trustee, for the benefit of the Series 2005-2 Noteholders, each Series 2005-2 Interest Rate Swap Counterparty and the
Surety Provider, each Series 2005-2 Demand Note, endorsed in blank. The Trustee, for the benefit of the Series 2005-2 Noteholders, each
Series 2005-
2 Interest Rate Swap Counterparty and the Surety Provider, shall be the only Person authorized to make a demand for payments on
the Series 2005-2 Demand Notes.
ARTICLE III
AMORTIZATION EVENTS
In addition to the Amortization Events set forth in Section 9.1 of the Base Indenture, any of the following shall be an Amortization
Event with respect to the Series 2005-2 Notes and collectively shall constitute the Amortization Events set forth in Section 9.1(n) of the Base
Indenture with respect to the Series 2005-2 Notes (without notice or other action on the part of the Trustee or any holders of the Series 2005-2
Notes):
(a) a Series 2005-2 Enhancement Deficiency shall occur and continue for at least two (2) Business Days; provided , however , that
such event or condition shall not be an Amortization Event if during such two (2) Business Day period such Series 2005-2 Enhancement
Deficiency shall have been cured in accordance with the terms and conditions of the Indenture and the Related Documents;
-
40
-