Avis 2006 Annual Report Download - page 203

AESOP I Loan Event of Default, a written statement of an Authorized Officer describing such event and the action that AESOP Leasing
proposes to take with respect thereto, (B) any Potential Amortization Event or Amortization Event or (C) any Exchange Agreement
Termination Event, notice thereof to the Lender, each Enhancement Provider and the Rating Agencies;
(iii) Manufacturers
. Promptly after obtaining actual knowledge thereof, notice of any Manufacturer Event of Default or termination
or replacement of a Manufacturer Program;
(iv) Notice of Liens and Vicarious Liability Claims . On each Determination Date, AESOP Leasing shall forward to CRCF, the
Trustee and the Paying Agent, the Rating Agencies and each Enhancement Provider, (A) an Officer’s Certificate of AESOP Leasing
certifying as to whether, to the knowledge of AESOP Leasing, (x) any Lien exists on any of the AESOP I Finance Lease Loan Collateral
or (y) any vicarious liability claims shall have been made against AESOP Leasing as a result of its ownership of the Vehicles leased
under the Finance Lease and (B) a written statement of an Authorized Officer summarizing each such Lien or claim and the action that
AESOP Leasing proposes to take with respect thereto; and
(v) Other . Promptly, from time to time, such other information, documents, or reports respecting the AESOP I Loan Collateral or
the condition or operations, financial or otherwise, of AESOP Leasing as the Lender or the Trustee may from time to time reasonably
request in order to protect the interests of the Lender or the Trustee under or as contemplated by this Agreement or any other Related
Document.
SECTION 9.6. Payment of Taxes; Removal of Liens . AESOP Leasing will pay when due all taxes, assessments, fees and
governmental charges of any kind whatsoever that may be at any time lawfully assessed or levied against or with respect to AESOP Leasing or
its property and assets or any interest thereon. Notwithstanding the previous sentence, but subject in any case to the other requirements hereof
and of the Related Documents, AESOP Leasing shall not be required to pay any tax, charge, assessment or imposition nor to comply with any
law, ordinance, rule, order, regulation or requirement so long as AESOP Leasing shall contest, in good faith, the amount or validity thereof, in
an appropriate manner or by appropriate proceedings. Each such contest shall be promptly prosecuted to final conclusion (subject to the right of
AESOP Leasing to settle any such contest).
SECTION 9.7. Business . AESOP Leasing will engage only in businesses conducted on the date hereof and that are permitted
pursuant to the terms of its limited partnership agreement.
SECTION 9.8. Maintenance of the Vehicles . AESOP Leasing will maintain or cause to be maintained in good repair, working
order, and condition all of the Vehicles leased under the Finance Lease, except to the extent that any such failure to comply with such
requirements does not, in the aggregate, materially adversely affect the interests of the Lender under this Agreement or the interests of the
Secured Parties under the Indenture or the likelihood of repayment of the Loans made hereunder. From time to time AESOP Leasing will make
or cause to be made all appropriate repairs, renewals, and replacements with respect to the Vehicles leased under the Finance Lease.
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