Avis 2010 Annual Report Download - page 290

ARTICLE III
PURCHASE AND SALE OF SERIES 2006-1 NOTES;
INCREASES AND DECREASES OF SERIES 2006-1 INVESTED AMOUNT
Section 3.1 Purchases of the Series 2006-1 Notes .
(a) Series 2006-1 Closing Date . Subject to the terms and conditions of this Series Supplement, including delivery of notice in
accordance with Section 3.3, (i) each CP Conduit Purchaser may, in its sole discretion, purchase a Series 2006-1 Note in an amount equal to all
or a portion of its Commitment Percentage of the Series 2006-1 Initial Invested Amount on any Business Day specified by CPF in such notice
provided pursuant to Section 3.3 (the “ Series 2006-1 Closing Date ”) and if such CP Conduit Purchaser shall have notified the Administrative
Agent and the Funding Agent with respect to such CP Conduit Purchaser that it has elected not to fund a Series 2006-1 Note in an amount equal
to its Commitment Percentage of the Series 2006-1 Initial Invested Amount on the Series 2006-1 Closing Date, each APA Bank with respect to
such CP Conduit Purchaser shall fund on the Series 2006-1 Closing Date its APA Bank Percentage of that portion of such Series 2006-1 Note
not to be funded by such CP Conduit Purchaser and (ii) thereafter, (A) if a CP Conduit Purchaser shall have purchased a Series 2006-1 Note,
such CP Conduit Purchaser may, in its sole discretion, increase the outstanding principal amount of its Series 2006-1 Note during the Series
2006-
1 Revolving Period (or on the Second Restatement Effective Date in connection with the Increase in the amount of the Second Restatement
Date Increase Amount made on such date) in accordance with the provisions of this Series Supplement and (B) the APA Banks with respect to
such CP Conduit Purchaser shall increase their respective APA Bank Percentages of the outstanding principal amount of the Series 2006-1 Note
with respect to such Purchaser Group during the Series 2006-1 Revolving Period (or on the Second Restatement Effective Date in connection
with the Increase in the amount of the Second Restatement Date Increase Amount made on such date) in accordance with the provisions of this
Series Supplement. Payments by each CP Conduit Purchaser and/or the APA Banks with respect to such CP Conduit Purchaser shall be made in
immediately available funds on the Series 2006-1 Closing Date (or on the Second Restatement Effective Date in connection with the Increase in
the amount of the Second Restatement Date Increase Amount made on such date) to the Funding Agent with respect to such CP Conduit
Purchaser for remittance to the Trust for deposit into the Series 2006-1 Collection Account.
(b) Form of Series 2006-1 Notes . The Series 2006-1 Notes shall be issued in fully registered form without interest coupons,
substantially in the form set forth in Exhibit A hereto.
Section 3.2 Delivery .
(a) On the Series 2006-1 Closing Date, CPF shall sign and shall direct the Trustee in writing pursuant to Section 2.2 of the Base
Indenture to duly authenticate, and the Trustee, upon receiving such direction, shall so authenticate a Series 2006-1 Note in the name of the
Funding Agent with respect to each Purchaser Group in an amount equal to the Maximum Purchaser Group Invested Amount with respect to
such Purchaser Group and deliver such Series 2006-1 Note to such Funding Agent in accordance with such written directions.
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