Avis 2010 Annual Report Download - page 186

extent not already paid by CPF, shall be withdrawn from the Collection Account or the Group Collection Account for the relevant Group and
paid to the Trustee. Unless otherwise specified in the Series Supplement for a Series of Notes, on each Distribution Date with respect to each
Outstanding Series, after payment of the amounts described in the preceding sentence, (i) the Paying Agent shall deposit (in accordance with the
Monthly Certificate delivered to the Trustee) in the Distribution Account for each such Series the amounts on deposit in the Group Collection
Account for the relevant Group, in each case, allocable to Noteholders of such Series as interest and principal, and (ii) to the extent provided for
in the Series Supplement for such Series of Notes, the Trustee shall deposit in the Distribution Account for each such Series the amount of
Enhancement for such Series drawn in connection with such Distribution Date.
(b) Unless otherwise specified in the Series Supplement for a Series of Notes, on each Distribution Date, the Paying Agent shall pay
to the Noteholders of each Series of record on the preceding Record Date the amounts payable thereto hereunder by check mailed first-class
postage prepaid or by wire (according to wiring instructions to be provided by such Noteholder) to such Noteholder at the address for such
Noteholder appearing in the Note Register, except that with respect to Notes registered in the name of a Clearing Agency or its nominee, such
amounts shall be payable by wire transfer of immediately available funds released by the Paying Agent from the applicable Series Account no
later than noon (New York City time) on the Payment Date for credit to the account designated by such Clearing Agency or its nominee, as
applicable; provided , however , that, the final principal payment due on a Note shall only be paid to the Noteholder of a Note on due
presentment of such Note for cancellation in accordance with the provisions of the Note.
(c) Unless otherwise specified in the Series Supplement for a Series of Notes, (i) all distributions to Noteholders of all Classes within
a Series of Notes will have the same priority and (ii) in the event that on any date of determination the amount available to make payments to the
Noteholders of a Series is not sufficient to pay all sums required to be paid to such Noteholders on such date, then each Class of Noteholders will
receive its ratable share (based upon the aggregate amount due to such Class of Noteholders) of the aggregate amount available to be distributed
in respect of the Notes of such Series.
ARTICLE 7. REPRESENTATIONS AND WARRANTIES
CPF hereby represents and warrants, for the benefit of the Trustee and the Noteholders of each Series in a Group, as follows as of the
Restatement Effective Date and each Series Closing Date for each Series of Notes in such Group:
Section 7.1. Existence and Power . CPF (a) is a limited liability company duly organized, validly existing and in good standing under
the laws of the State of Delaware, (b) is duly qualified to do business as a foreign company and in good standing under the laws of each
jurisdiction where the character of its property, the nature of its business or the performance of its obligations make such qualification necessary,
and (c) has all company powers and all governmental licenses, authorizations,
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