Avis 2006 Annual Report Download - page 288

acceptable to the Lessor, the Lender and the Trustee, accompanied by (b) a letter from such accountants addressed to the Lessor, the
Lender and the Trustee stating that, in the course of their annual audit of the books and records of the Finance Lease Guarantor, no
Potential Finance Lease Event of Default or Finance Lease Event of Default has come to their attention which was continuing at the close
of such fiscal year or on the date of their letter, or, if such an event has come to the attention of such accountants and was continuing at
the close of such fiscal year or on the date of their letter, the nature of such event, it being understood that such accountants shall have no
liability to the Lessor, the Lender or the Trustee by reason of the failure of such accountants to obtain knowledge of the occurrence or
continuance of such a Finance Lease Event of Default or Potential Finance Lease Event of Default;
(ii) Quarterly Statements . As soon as available and in any event within forty-five (45) days after the end of each of the first
three quarters of each fiscal year of the Finance Lease Guarantor, (a) financial statements consisting of a consolidated statement of
financial position of the Finance Lease Guarantor and its Consolidated Subsidiaries as of the end of such quarter and a statement of
operations, stockholders’ equity and cash flows of the Finance Lease Guarantor and its Consolidated Subsidiaries for each such quarter,
setting forth in comparative form the corresponding figures for the corresponding periods of the preceding fiscal year, all in reasonable
detail and certified (subject to year-end audit adjustments) by a senior financial officer of the Finance Lease Guarantor as having been
prepared in accordance with GAAP applied on a consistent basis, accompanied by (b) a letter from such officer addressed to the Lessor,
the Lender and the Trustee stating that no Potential Finance Lease Event of Default or Finance Lease Event of Default has come to his
attention which was continuing at the end of such quarter or on the date of his letter, or, if such an event has come to his attention and was
continuing at the end of such quarter or on the date of his letter, indicating the nature of such event and the action which the Finance
Lease Guarantor proposes to take with respect thereto;
(iii) Amortization Events and Finance Lease Events of Default . As soon as possible but in any event within two (2) Business
Days after the occurrence of any Amortization Event, Potential Amortization Event, Finance Lease Event of Default or Potential Finance
Lease Event of Default, a written statement of an Authorized Officer describing such event and the action that the Finance Lease
Guarantor or such Lessee, as the case may be, proposes to take with respect thereto;
(iv) Manufacturers . Promptly after obtaining actual knowledge thereof, notice of any Manufacturer Event of Default or
termination or replacement of a Manufacturer Program;
(v) Interim Financial Statements . Promptly following the Finance Lease Guarantor’s receipt thereof, copies of all other
financial reports submitted to the Finance Lease Guarantor by independent public accountants relating to any annual or interim audit of
the books of the Finance Lease Guarantor, or opinion as to the proper book value of the assets of the Finance Lease Guarantor;
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