Avis 2010 Annual Report Download - page 237

“ Borrowing Base ” means, as of any date of determination with respect to any Group, an amount equal to the sum of (i) the
aggregate Termination Value of all Eligible Trucks leased under the Applicable CPF Lease as of such date, plus (ii) cash and Permitted
Investments on deposit in the Collection Account, to the extent constituting Group Specific Collateral for such Group, and the Group Collection
Account (including any subaccount thereof) for such Group as of such date, plus (iii) all accrued and unpaid Depreciation Charges included in
Monthly Base Rent under the Applicable CPF Lease with respect to all Eligible Trucks as of such date that have not been sold or deemed sold
under the Applicable Related Documents; plus (iv) all accrued and unpaid Casualty Payments and Truck Special Damage Payments under the
Applicable CPF Lease; plus (v) all due and unpaid Liquidation Proceeds.
“ Borrowing Base Deficiency ” means, with respect to any Group and with respect to any date of determination, the amount, if any,
by which the Aggregate Required Borrowing Base for such Group on such date exceeds the Borrowing Base for such Group on such date.
“ BRAC ” means Budget Rent A Car System, Inc., a Delaware corporation.
“ BTR ” means Budget Truck Rental LLC, a Delaware limited liability company, and its successors.
“ Business Day ” means any day other than a Saturday, Sunday or other day on which banking institutions in New York City, New
York or the city in which the Corporate Trust Office is located are authorized or required by law or executive order to be closed.
“ Capitalized Cost ”
means, with respect to any Applicable CPF Truck, (i) for each Applicable CPF Truck purchased directly from an
Eligible Truck Manufacturer, the initial cost of such Applicable CPF Truck as set forth in the invoice of the applicable manufacturer, minus any
incentive payments or rebates used to reduce such initial acquisition cost, as set forth on the applicable Termination Value Curve as the “WA
Acquisition Price” for such Applicable CPF Truck and (ii) for each Applicable CPF Truck purchased from an Approved Seller or contributed to
CPF, (x) in the case of an Applicable CPF Truck relating to the Group of Notes which includes the Series 2006-
1 Notes, the amount agreed to by
Deutsche Bank Securities, Inc. or (y) in the case of any other Applicable CPF Truck, an amount set forth, or an amount calculated pursuant to a
formula set forth, on a schedule to the Applicable CPF Lease or such other amount, including an amount calculated pursuant to such other
formula, as to which the Rating Agency Condition is satisfied for each Series of Notes Outstanding in the such Group, in either case, with
respect to such Applicable CPF Truck.
“ Carrying Charges ” means, as of any Distribution Date, the sum of (a) the aggregate of all Trustee fees and other costs, fees and
expenses and indemnity amounts, if any, payable by CPF under the Base Indenture or the other Applicable Related Documents for any Series of
Notes which have accrued since the immediately preceding Distribution Date and (b) without duplication, all other operating expenses of CPF.
“ Carrying Cost Interest Rate ” means, for any Group, for any Interest Period an interest rate equal to the percentage equivalent of a
fraction, (i) the numerator of which is equal to the sum of (A) the amount of interest accrued during such Interest Period with respect to all
5