Avis 2010 Annual Report Download - page 252

“ Proceeds ” has the meaning specified in Section 9-102(a)(64) of the applicable UCC.
“ Qualified Institution ”
means a depositary institution or trust company (which may include the Trustee) organized under the laws of
the United States of America or any one of the states thereof or the District of Columbia or incorporated under the laws of a foreign jurisdiction
with a branch or agency located in the United States of America or any one of the states thereof and subject to the supervision and examination
by federal or state banking authorities which at all times has the Required Ratings and, in the case of any such institution organized under the
laws of the United States of America, whose deposits are insured by the FDIC.
“ Qualified Trust Institution ” means an institution organized under the laws of the United States of America or any State thereof or
incorporated under the laws of a foreign jurisdiction with a branch or agency located in the United States of America or any State thereof and
subject to supervision and examination by federal or state banking authorities which at all times (i) is authorized under such laws to act as a
trustee or in any other fiduciary capacity, (ii) has capital, surplus and undivided profits of not less than $50,000,000 as set forth in its most recent
published annual report of condition, and (iii) has a long term deposits rating of not less than “A-” by S&P and “A3” by Moody’s.
“ Rating Agency ” means, with respect to any Series of Notes, each rating agency rating such Series of Notes as specified in the
Series Supplements for such Series of Notes.
“ Rating Agency Condition ” means, with respect to any Series of Notes and any action or event, confirmation from each Rating
Agency with respect to such Series of Notes that such action or event will not in and of itself result in the downgrade or withdrawal of its then-
current rating of such Series of Notes, which such confirmation shall be promptly forwarded by CPF to the Trustee.
“ Record Date ”
means, with respect to any Series of Notes and any Distribution Date, the date specified in the Series Supplement for
such Series of Notes.
“ Registrar ” has the meaning specified in Section 2.6(a) of the Base Indenture.
“ Regulation S ” has the meaning set forth in Section 2.5(b) of the Base Indenture.
“ Related Month ” means, (i) with respect to any Distribution Date or Determination Date, the most recently ended calendar month,
(ii) with respect to any other date, the calendar month in which such date occurs and (iii) with respect to an Interest Period, the month in which
such Interest Period commences; provided , however , that with respect to the above clause (i) , the initial Related Month shall be the period
from and including the Initial Closing Date to and including the last day of the calendar month following the month in which the Initial Closing
Date occurs.
“ Required Borrowing Base ” means, with respect to each Series of Notes, the amount specified in the Series Supplement for such
Series of Notes.
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