Avis 2010 Annual Report Download - page 432

(b) In the event any Group I Truck or Group I Trucks are not purchased by the Lessee of such Group I Truck pursuant to Section 2.5
or sold to a third party pursuant to Section 2.6(a) , then, the Lessee shall return such Group I Truck or Group I Trucks to the Lessor on or
before the Distribution Date with respect to the Related Month in which the applicable Vehicle Lease Expiration Date falls.
2.7. Conditions to Each Lease of Group I Trucks . The agreement of the Lessor to make available any Group I Truck for lease to the
Lessee upon such Lessee’s acquisition of such Group I Truck, as agent of the Lessor, is subject to the terms and conditions of the Base
Indenture and subject to the satisfaction of the following conditions precedent as of the Vehicle Lease Commencement Date for such
Group I Truck:
2.7.1. No Default . No Lease Event of Default or Amortization Event with respect to any Group I Series of Notes shall have
occurred and be continuing on such date or would result from the leasing of such Group I Truck.
2.7.2. Limitations of the Acquisition of Certain Trucks . After giving effect to the inclusion of such Group I Truck under this
Agreement, there shall not be a failure or violation of any of the conditions, requirements, or restrictions specified in the Base
Indenture or any related Group I Series Supplement with respect to the leasing of Eligible Trucks under this Agreement.
2.7.3. Truck Order . The Lessee shall have complied with the applicable provisions of Section 2.1 of this Agreement.
2.7.4. Funding . The aggregate amount of funds to be expended by the Lessor on any one date to acquire any Group I Trucks
shall not exceed the aggregate Net Book Value of all such Group I Trucks.
2.7.5. Eligible Trucks . Each Group I Truck shall meet the requirements as set forth in clauses (a)(i), (ii), (iii), (iv) and (vi) and
(b) in the definition of “Eligible Truck” in the Indenture.
3. TERM .
3.1. Vehicle Term . The “ Vehicle Lease Commencement Date ” (
x) for each Group I Truck (other than an Additional Group I Truck)
shall mean the Initial Group I Closing Date and (y) for each Additional Group I Truck shall mean the earlier of (a) the date referenced in
the Vehicle Acquisition Schedule with respect to such Group I Truck, and (b) the date that funds are expended by the Lessor to acquire
such Group I Truck (with respect to such Group I Truck, the “ Truck Funding Date ”). The “ Vehicle Term ” with respect to each Group I
Truck shall extend from the Vehicle Lease Commencement Date through the earliest of (i) if such Group I Truck is sold to a third party,
the date on which funds in the amount of the Vehicle Purchase Price in respect of such sale are deposited in the Collection Account (by
such third party or by the Lessee or the Guarantor on behalf of such third party), (ii) if such Group I Truck becomes a Casualty,
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