Avis 2010 Annual Report Download - page 399

Annex E
Page 2
insolvency, reorganization, winding up or composition or adjustment of debts, and such case or proceeding shall continue undismissed, or
unstayed and in effect, for a period of 60 consecutive days; or an order for relief in respect of such Person shall be entered in an involuntary case
under the federal bankruptcy laws or other similar laws now or hereafter in effect; or (b) such Person shall commence a voluntary case or other
proceeding under any applicable bankruptcy, insolvency, reorganization, debt arrangement, dissolution or other similar law now or hereafter in
effect, or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other
similar official) for such Person or for any substantial part of its property, or shall make any general assignment for the benefit of creditors; or
(c) the board of directors of such Person (if such Person is a corporation or similar entity) shall vote to implement any of the actions set forth in
clause (b) above.
IN WITNESS WHEREOF, ABCR has executed and delivered this certificate on this day of , .
Acknowledged and Agreed:
The undersigned hereby acknowledges receipt of the Reimbursement Amount (as defined above) in the amount set forth above in paragraph 1
and agrees for the benefit of the Trustee that the undersigned’s Letter of Credit Amount is in an amount equal to $ as of the date hereof
after taking into account the reinstatement of the undersigned’s Letter of Credit Amount by an amount equal to the Reinstatement Amount.
AVIS BUDGET CAR RENTAL, LLC
By:
Name:
Title:
[Series 2006
-
1 Letter of Credit Provider]
By:
Name:
Title: