Avis 2010 Annual Report Download - page 398

ANNEX E
CERTIFICATE OF REINSTATEMENT OF LETTER OF CREDIT AMOUNT
[Series 2006-1 Letter of Credit Provider]
[Address]
Attention: [ ]
Certificate of Reinstatement of Letter of Credit Amount under the Irrevocable Letter of Credit No. [ ] (the “ Series 2006-1
Letter of Credit ”; the terms defined therein and not otherwise defined herein being used herein as therein defined or incorporated therein), dated
as of [ ], 20[_], issued by [ ], as the Series 2006-1 Letter of Credit Provider, in favor of The Bank of New York Mellon Trust
Company, N.A., as trustee (the “ Trustee ”), under that certain Amended and Restated Base Indenture, dated as of March 9, 2010, between the
Trustee and CENTRE POINT FUNDING, LLC (“ CPF ”), as amended or supplemented (exclusive of any Series Supplement thereto creating a
new Series of Notes), and as further supplemented by that certain Second Amended and Restated Series 2006-1 Supplement thereto (the “ Series
2006-1 Supplement ”), dated as of December 3, 2010, among CPF, Budget Truck Rental LLC, as Administrator, Deutsche Bank Securities, Inc.,
as Administrative Agent, the CP Conduit Purchasers, the APA Banks and the Funding Agents named therein, the Trustee and The Bank of New
York Mellon Trust Company, N.A., as Series 2006-1 Agent (the “ Indenture ”).
The undersigned, a duly authorized officer of Avis Budget Car Rental, LLC (“ ABCR ”), hereby certifies to the Series 2006-1 Letter
of Credit Provider as follows:
1. As of the date of this certificate, the Series 2006-1 Letter of Credit Provider has been reimbursed by [ ] in the amount of
$[ ] (the “ Reimbursement Amount ”) in respect of the [Lease Deficit Demand] [Unpaid Demand Note Demand] (the “ Demand ”) made
on , .
2. ABCR hereby notifies you that, pursuant to the terms and conditions of the Series 2006-1 Letter of Credit, the Letter of Credit
Amount of the Series 2006-1 Letter of Credit Provider is hereby reinstated in the amount of $[ ] (the “ Reinstatement Amount ”) [
NOT TO
EXCEED REIMBURSEMENT AMOUNT]
so that the Letter of Credit Amount of the Series 2006-1 Letter of Credit Provider after taking into
account such reinstatement is in amount equal to $[ ] [NOT TO EXCEED MAXIMUM AMOUNT OF LETTER OF CREDIT PRIOR TO
DRAWING]
.
3. As of the date of this Certificate, no Event of Bankruptcy with respect to ABCR, BRAC or the Lessee has occurred and is continuing. “
Event of Bankruptcy ”, with respect to the Lessee, ABCR or BRAC, means (a) a case or other proceeding shall be commenced, without the
application or consent of such Person, in any court, seeking the liquidation, reorganization, debt arrangement, dissolution, winding up, or
composition or readjustment of debts of such Person, the appointment of a trustee, receiver, custodian, liquidator, assignee, sequestrator or the
like for such Person or all or any substantial part of its assets, or any similar action with respect to such Person under any law relating to
bankruptcy,