Avis 2009 Annual Report Download - page 214

ARTICLE III
SERIES 2009-3 ALLOCATIONS
With respect to the Series 2009-3 Notes, the following shall apply:
Section 3.1. Establishment of Series 2009-3 Collection Account, Series 2009-3 Excess Collection Account and Series 2009-3
Accrued Interest Account .
(a) All Collections allocable to the Series 2009-3 Notes shall be allocated to the Collection Account.
(b) The Trustee will create three administrative subaccounts within the Collection Account for the benefit of the Series 2009-3
Noteholders: the Series 2009
-3 Collection Account (such sub-account, the “ Series 2009-3 Collection Account ”), the Series 2009-3 Excess
Collection Account (such sub-account, the “ Series 2009-3 Excess Collection Account ”) and the Series 2009-3 Accrued Interest Account (such
sub-account, the “ Series 2009-3 Accrued Interest Account ”).
Section 3.2. Allocations with Respect to the Series 2009-3 Notes . The net proceeds from the initial sale of the Series 2009-3 Notes
and any Increase will be deposited into the Collection Account. On each Business Day on which Collections are deposited into the Collection
Account (each such date, a “ Series 2009-3 Deposit Date ”), the Administrator will direct the Trustee in writing pursuant to the Administration
Agreement to allocate all amounts deposited into the Collection Account in accordance with the provisions of this Section 3.2:
(a) Allocations of Collections During the Series 2009-3 Revolving Period . During the Series 2009-3 Revolving Period, the
Administrator will direct the Trustee in writing pursuant to the Administration Agreement to allocate on each day, prior to 11:00 a.m. (New York
City time) on each Series 2009-3 Deposit Date, all amounts deposited into the Collection Account as set forth below:
(i) allocate to the Series 2009-3 Collection Account an amount equal to the sum of (A) the Series 2009-3 Invested Percentage
(as of such day) of the aggregate amount of Interest Collections on such day and (B) any Series 2009-3 Interest Rate Cap Proceeds
received by the Trustee on such day. All such amounts allocated to the Series 2009-3 Collection Account shall be further allocated to
the Series 2009-3 Accrued Interest Account; and
(ii) allocate to the Series 2009-3 Excess Collection Account the sum of (A) the Series 2009-3 Invested Percentage (as of such
day) of the aggregate amount of Principal Collections on such day (for any such day, the “ Series 2009-3 Principal Allocation ”) and
(B) the proceeds from the initial issuance of the Series 2009-3 Notes and from any Increase; provided , however , if a Waiver Event
shall have occurred, then such allocation shall be modified as provided in Article V.
(b) Allocations of Collections During the Series 2009-3 Amortization Period . With respect to the Series 2009-
3 Amortization Period,
other than after the occurrence of
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