Avis 2010 Annual Report Download - page 264

WHEREAS, CPF desires to amend and restate the First A&R Series 2006-1 Supplement;
NOW, THEREFORE, the parties hereto agree as follows:
ARTICLE I
DESIGNATION
Section 1.1 Designation .
(a) There is hereby created a Series of Notes to be issued pursuant to the Base Indenture and this Series Supplement and such Series
of Notes shall be designated generally as Variable Funding Rental Truck Asset Backed Notes, Series 2006-1.
(b) The proceeds from the initial sale of the Series 2006-
1 Notes shall be deposited in the Collection Account, for further credit to the
Group I Collection Account and shall be paid to CPF and used to pay a portion of the purchase price of the Group I CPF Trucks. The proceeds of
any Increase (other than the Increase on the Second Restatement Effective Date in the amount of the Second Restatement Increase Amount) shall
be deposited in the Collection Account, for further credit to the Group I Collection Account and shall be released to CPF as and to the extent set
forth in Section 5.2(b). The proceeds of the Second Restatement Increase Amount shall be deposited in the Collection Account, for further credit
to the Group I Collection Account and shall be paid to CPF on the Second Restatement Effective Date (and shall not be allocated to the Series
2006-1 Principal Subaccount) to finance Group I CPF Trucks but solely to the extent that following such payment to CPF no Borrowing Base
Deficiency with respect to the Group I Series of Notes, Series 2006-1 Enhancement Deficiency or Series 2006-
1 Principal Deficit Amount would
result from such payment or exist immediately thereafter, as certified to the Trustee in writing by the Administrator.
(c) The Series 2006-1 Notes will have collateral that is segregated as Group I Collateral by the Administrator and the Trustee and
solely for the benefit of the Series 2006-1 Noteholders and any other future Series of Notes that is designated in the Series Supplement for such
future Series of Notes as sharing in such Group I Collateral (all as more fully described in the Base Indenture). The Series 2006-1 Notes are
hereby designated as a “ Group I Series of Notes ”. CPF may from time to time issue additional segregated Series of Notes (the Series 2006-1
Notes and any such additional Series, each, a
“ Group I Series of Notes ” and, collectively, the “ Group I Series of Notes ”)
that the related Series
Supplements shall indicate are entitled to share, together with the Series 2006-1 Notes and any other Group I Series of Notes, in the Group I
Collateral, the Collateral and any other collateral designated as security for the Series 2006-
1 Notes and such other Group I Series of Notes under
the Base Indenture, this Series Supplement and the Series Supplement related to such other Group I Series of Notes. Accordingly, unless the
context otherwise requires, all references in this Series Supplement to “all”
Series of Notes (and all references in this Series Supplement to terms
defined in the Base Indenture that contain references to “all” Series of Notes) shall refer to all Group I Series of Notes.
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