Avis 2006 Annual Report Download - page 278

(ii) give notice to the Finance Lease Guarantor of the terms, time and place of any public or private sale of any security for the
Guaranteed Obligations; or
(iii) proceed against any Guaranteed Lessee, any other guarantor or any other Person, or proceed against or exhaust any
security for the Guaranteed Obligations;
(d) all rights of subrogation, all rights to enforce any remedy that the Lessor now or hereafter has against any Guaranteed Lessee or
any other Person, and any benefit of, and right to participate in, any security now or hereafter held by the Lessor with respect to the
Guaranteed Obligations;
(e) presentment, demand, protest and notice of any kind, including without limitation notices of default and notice of acceptance of
this Finance Lease Guaranty;
(f) all suretyship defenses and rights of every nature otherwise available under New York law and the laws of any other jurisdiction;
and
(g) all other rights and defenses the assertion or exercise of which would in any way diminish the liability of the Finance Lease
Guarantor hereunder.
26.5. Finance Lease Guarantor to Pay Lessor’s Expenses .
The Finance Lease Guarantor agrees to pay to the Lessor, on demand, all costs and expenses, including attorneys’ and other
professional and paraprofessional fees, incurred by the Lessor in exercising any right, power or remedy conferred by this Finance Lease
Guaranty, or in the enforcement of this Finance Lease Guaranty, whether or not any action is filed in connection therewith. Until paid to the
Lessor, such amounts shall bear interest, commencing with the Lessor’s demand therefor, at the Prime Rate (defined below) plus 1.0%. “Prime
Rate” shall mean the rate of interest per annum identified as the “Prime Rate” in the “Money Rates” section of The Wall Street Journal ; each
change in the Prime Rate shall be effective from and including the date such change is published as being effective.
26.6. Reinstatement .
This Finance Lease Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time payment of any of the
amounts payable by a Guaranteed Lessee under this Agreement is rescinded or must otherwise be restored or returned by the Lessor, upon an
event of bankruptcy, dissolution, liquidation or reorganization of such Guaranteed Lessee or the Finance Lease Guarantor or upon or as a result
of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, such Guaranteed Lessee or the Finance Lease
Guarantor or any substantial part of their respective property, or otherwise, all as though such payment had not been made.
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