Avis 2006 Annual Report Download - page 192

the maturity date therefor, whether by acceleration or otherwise. Solely for determining the amounts payable under this Section 5.1 , with
respect to a Program Vehicle that became a Casualty during the Related Month as a result of such Program Vehicle being held beyond the
stated expiration date of the applicable Repurchase Period and not being redesignated as a Non-Program Vehicle, such Vehicle will be deemed
to have become a Casualty upon such expiration date.
SECTION 5.2. Voluntary Prepayments of Loan Principal Amount . AESOP Leasing may from time to time prepay the principal
amount with respect to any Loans made hereunder, in whole or in part, on any date; provided that, except for any prepayment made pursuant to
Section 6.3 hereof or any payment made to comply with Section 10.13 hereof, AESOP Leasing shall give the Lender and the Trustee not less
than one (1) Business Day’s prior notice of any such prepayment, specifying the date and amount of such prepayment, and, if AESOP Leasing
is requesting a release of Vehicles from the Lien hereof pursuant to Section 7.3 , the Vehicles to which such prepayment relates.
SECTION 6. MAKING OF PAYMENTS.
SECTION 6.1. Making of Payments . All payments of the Monthly Loan Principal Amount or Loan Interest hereunder, all
prepayments of the Loan Principal Amount hereunder, and all payments of Supplemental Interest, Carrying Charges and of all other Liabilities
shall be made by AESOP Leasing to, or for the account of, the Lender in immediately available Dollars, without setoff, counterclaim or
deduction of any kind. All such payments shall be made to the Collection Account (or such other account as the Lender may from time to time
specify with the consent of the Trustee), not later than 11:00 a.m., New York City time, on the date due, and funds received after that hour shall
be deemed to have been received by the Lender on the next following Business Day. The Lender hereby specifies that (i) all (A) payments with
respect to Program Vehicles (including Relinquished Vehicles constituting Program Vehicles) leased under the Finance Lease made by the
Manufacturers and related auction dealers under the Manufacturer Programs, and (B) amounts representing the proceeds from sales of Vehicles
(including any Relinquished Vehicles) leased under the Finance Lease (including amounts paid by a Manufacturer as a result of the sale of such
Vehicle outside such Manufacturer’s Manufacturer Program) to third parties (other than under any related Manufacturer Program) shall be
deposited in the Collection Account or a Joint Collection Account (and, if deposited in a Joint Collection Account, shall be applied as provided
in Section 4.2 of the Master Exchange Agreement) and (ii) all payments with respect to any other AESOP I Finance Lease Loan Collateral shall
be deposited in the Collection Account; provided , however , that, subject to Section 5.2 of the Base Indenture, insurance proceeds and
warranty payments with respect to Vehicles leased under the Finance Lease will be deposited in the Collection Account only if an Amortization
Event or a Potential Amortization Event shall have occurred and be continuing.
SECTION 6.2. Due Date Extension . If any (i) payment of the Monthly Loan Principal Amount or Loan Interest hereunder or
(ii) prepayment of the Loan Principal Amount or Supplemental Interest with respect to any Loans made hereunder falls due on a day which is
not a Business Day, then such due date shall be extended to the next following Business Day and Loan Interest or Supplemental Interest, as
applicable, shall accrue through such Business Day.
-
7
-