Avis 2006 Annual Report Download - page 170

(ii) any remaining Designated Amounts to the Series 2005-2 Excess Collection Account.
If the amount paid pursuant to clause (i) of the preceding paragraph is not paid in full on the date specified therein, then on each day
following such Distribution Date, the Administrator will allocate to the Series 2005-2 Collection Account on a daily basis all Designated
Amounts collected on such day. On each following Distribution Date, the Trustee will withdraw a portion of such Designated Amounts from
the Series 2005-2 Collection Account and deposit the same in the Series 2005-2 Distribution Account for distribution as follows:
(a) to the non-consenting Series 2005-2 Noteholders, if any, pro rata an amount equal to the Designated Amounts in the Series
2005-2 Collection Account as of the applicable Determination Date up to the aggregate outstanding principal balance of the Series 2005-
2
Notes held by the non-consenting Series 2005-2 Noteholders; and
(b) any remaining Designated Amounts to the Series 2005-2 Excess Collection Account.
If the Requisite Noteholders or the Surety Provider do not timely consent to such waiver, the Designated Amounts will be re-
allocated to the Series 2005-2 Excess Collection Account for allocation and distribution in accordance with the terms of the Indenture and the
Related Documents.
In the event that the Series 2005-2 Rapid Amortization Period shall commence after receipt by the Trustee of a Waiver Request, all
such Designated Amounts will thereafter be considered Principal Collections allocated to the Series 2005-2 Noteholders.
ARTICLE V
FORM OF SERIES 2005-2 NOTES
Section 5.1 Restricted Global Series 2005-2 Notes . The Series 2005-2 Notes to be issued in the United States will be issued in
book-entry form and represented by one or more permanent global Notes in fully registered form without interest coupons (each, a “ Restricted
Global Series 2005-2 Note ”), substantially in the form set forth in Exhibit A-1 , with such legends as may be applicable thereto as set forth in
the Base Indenture, and will be sold only in the United States (1) initially to institutional accredited investors within the meaning of Regulation
D under the Securities Act in reliance on an exemption from the registration requirements of the Securities Act and (2) thereafter to qualified
institutional buyers within the meaning of, and in reliance on, Rule 144A under the Securities Act and shall be deposited on behalf of the
purchasers of the Series 2005-2 Notes represented thereby, with the Trustee as custodian for DTC, and registered in the name of Cede as
DTC’s nominee, duly executed by CRCF and authenticated by the Trustee in the manner set forth in Section 2.4 of the Base Indenture.
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