Avis 2010 Annual Report Download - page 305

any Distribution Date, payments of interest to the Series 2006-1 Noteholders and payments of Commitment Fees to the Purchaser Groups
will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution
Date shall be referred to as the “ Series 2006-1 Shortfall .” Interest shall accrue on the Series 2006-1 Shortfall at the Alternate Base Rate
plus 2% per annum.
Section 5.4 Payment of Note Interest and Commitment Fees .
On each Distribution Date, subject to Section 9.8 of the Base Indenture, the Paying Agent shall, in accordance with Section 6.1 of the
Base Indenture, pay to the Administrative Agent for the accounts of the Purchaser Groups from the Series 2006-1 Distribution Account the
amounts deposited in the Series 2006-1 Distribution Account pursuant to Section 5.3. Upon the receipt of funds from the Paying Agent on each
Distribution Date on account of Series 2006-1 Monthly Interest, the Administrative Agent shall pay to each Funding Agent with respect to a
Purchaser Group an amount equal to the Monthly Funding Costs with respect to such Purchaser Group with respect to the Series 2006-1 Interest
Period ending on the day preceding such Distribution Date plus the amount of any unpaid Series 2006-1 Shortfalls relating to unpaid Series
2006-1 Monthly Interest payable to such Purchaser Group as of the preceding Distribution Date, together with any interest thereon at the
Alternate Base Rate plus 2% per annum. If the amount paid to the Administrative Agent on any Distribution Date pursuant to this Section 5.4 on
account of Series 2006-1 Monthly Interest for the Series 2006-1 Interest Period ending on the day preceding such Distribution Date is less than
such Series 2006-1 Monthly Interest, the Administrative Agent shall pay the amount available to the Funding Agents, on behalf of the Purchaser
Groups, on a rata basis, based on the Monthly Funding Costs with respect to each Purchaser Group with respect to such Series 2006-1 Interest
Period. Upon the receipt of funds from the Paying Agent on each Distribution Date on account of Commitment Fees, the Administrative Agent
shall pay to each Funding Agent with respect to a Purchaser Group an amount equal to the Commitment Fee payable to such Purchaser Group
with respect to the Series 2006-1 Interest Period ending on the day preceding such Distribution Date plus the amount of any unpaid Series 2006-
1 Shortfalls relating to unpaid Commitment Fees payable to such Purchaser Group as of the preceding Distribution Date, together with any
interest thereon at the Alternate Base Rate plus 2% per annum. If the amount paid to the Administrative Agent on any Distribution Date pursuant
to this Section 5.4 on account of Commitment Fees is less than the Commitment Fees payable on such Distribution Date, the Administrative
Agent shall pay the amount available to the Funding Agents, on behalf of the Purchaser Groups, on a pro rata basis, based on the Commitment
Fee payable to each Purchaser Group on such Distribution Date. Upon the receipt of funds from the Trustee or the Paying Agent on any
Distribution Date on account of Article VIII Costs, the Administrative Agent shall pay such amounts to the Funding Agent with respect to the
CP Conduit Purchaser or the APA Bank owed such amounts. If the amounts paid to the Administrative Agent on any Distribution Date pursuant
to Section 5.3(e) on account of Article VIII Costs are less than the Article VIII Costs due and payable on such Distribution Date, the
Administrative Agent shall pay the amounts available to the Funding Agents with respect to the CP Conduit Purchasers and APA Banks owed
such amounts, on a pro
rata basis, based on the Article VIII Costs owing to such CP Conduit Purchasers and APA Banks. Due and unpaid Article
VIII Costs owing to a Purchaser Group shall accrue interest at the Alternate Base Rate
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