Avis 2006 Annual Report Download - page 290

31.10. Maintenance of the Vehicles .
Maintain and cause to be maintained in good repair, working order, and condition all of the Vehicles leased hereunder by such
Lessee in accordance with its ordinary business practices with respect to all other vehicles owned by it, 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 Lessor under this
Agreement, the interests of the Lender under the AESOP I Finance Lease Loan Agreement or the interests of the Secured Parties under the
Indenture or the likelihood of repayment of the Loans. From time to time the Finance Lease Guarantor and each Lessee will make or cause to
be made all appropriate repairs, renewals, and replacements with respect to the Vehicles.
31.11. Enhancement .
If the Enhancement with respect to any Series of Notes is provided by a letter of credit and (i) the short-term debt or deposit rating
of the Enhancement Provider of such letter of credit shall be downgraded below the then-current rating of such Series of Notes by the Rating
Agencies with respect to such Series of Notes or (ii) such Enhancement Provider shall notify the Lessees that its compliance with any of its
obligations under such letter of credit would be unlawful, use its best efforts to obtain a successor institution to act as Enhancement Provider or,
in the alternative, to otherwise credit enhance the payments to be made under this Agreement by the Lessees, subject to the satisfaction of the
Rating Agency Confirmation Condition and any other requirements set forth in the Related Documents.
31.12. Manufacturer Payments .
Cause each Manufacturer and each auction dealer with respect to such Manufacturer to make all payments made by it under the
Manufacturer Programs with respect to Vehicles leased hereunder directly to the Collection Account or a Joint Collection Account. Any such
payments from Manufacturers or related auction dealers received directly by the Finance Lease Guarantor or a Lessee, will be, within three
(3) Business Days of receipt, deposited into the Collection Account or a Joint Collection Account, as applicable.
31.13. Accounting Methods; Financial Records .
Maintain, and cause each of its material Subsidiaries to maintain, a system of accounting and keep, and cause each of its material
Subsidiaries to keep, such records and books of account (which shall be true and complete) as may be required or necessary to permit the
preparation of financial statements in accordance with GAAP applied on a consistent basis.
31.14. Disclosure to Auditors .
Disclose, and cause each of its material Subsidiaries to disclose, to its independent certified public accountants in a timely manner
all loss contingencies of a type requiring disclosure to auditors under accounting standards promulgated by the Financial Accounting Standards
Board.
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