Avis 2010 Annual Report Download - page 511

Period Demand Note Payments as of any date after the conclusion or dismissal of such proceedings shall equal the Series 2010-1 Demand Note
Payment Amount as of the date of the conclusion or dismissal of such proceedings.
“ Pro Rata Share ” means, with respect to any Series 2010-1 Letter of Credit Provider as of any date, the fraction (expressed as a
percentage) obtained by dividing (A) the available amount under such Series 2010-1 Letter of Credit Provider’s Series 2010-
1 Letter of Credit as
of such date by (B) an amount equal to the aggregate available amount under all Series 2010-1 Letters of Credit as of such date; provided that
only for purposes of calculating the Pro Rata Share with respect to any Series 2010-1 Letter of Credit Provider as of any date, if such Series
2010-1 Letter of Credit Provider has not complied with its obligation to pay the Trustee the amount of any draw under its Series 2010-
1 Letter of
Credit made prior to such date, the available amount under such Series 2010-1 Letter of Credit Provider’s Series 2010-1 Letter of Credit as of
such date shall be treated as reduced (for calculation purposes only) by the amount of such unpaid demand and shall not be reinstated for
purposes of such calculation unless and until the date as of which such Series 2010-1 Letter of Credit Provider has paid such amount to the
Trustee and been reimbursed by the Lessee or ABCR, as the case may be, for such amount ( provided that the foregoing calculation shall not in
any manner reduce the undersigned’s actual liability in respect of any failure to pay any demand under its Series 2010-1 Letter of Credit).
“ Record Date ” means, with respect to each Distribution Date, the immediately preceding Business Day.
“ Series Supplement ” is defined in the recitals hereto.
“ Series 2010-1 Accounts ” means the Group II Collection Account, Series 2010-1 Collection Account, Series 2010-1 Principal
Subaccount, Series 2010-1 Accrued Interest Account, Series 2010-1 Reserve Account, Series 2010-1 Cash Collateral Account and Series 2010-1
Distribution Account.
“ Series 2010-1 Accrued Interest Account ” is defined in Section 4.1(b).
“ Series 2010-1 Adjusted Required Enhancement Percentage ” means, as of any date of determination, the greater of (a) the Series
2010-1 Required Enhancement Percentage as of such date and (b) the sum of (i) Series 2010-1 Required Enhancement Percentage as of such
date plus (ii) the highest, for any calendar month within the preceding twelve calendar months, of an amount (not less than zero) equal to 100%
minus the Measurement Month Average for the immediately preceding Measurement Month.
“ Series 2010-1 Agent ” is defined in the recitals hereto.
“ Series 2010-1 Available Cash Collateral Account Amount ” means, as of any date of determination, the amount on deposit in the
Series 2010-1 Cash Collateral Account (after giving effect to any deposits thereto and withdrawals and releases therefrom on such date).
“ Series 2010-1 Available Reserve Account Amount ” means, as of any date of determination, the amount on deposit in the Series
2010-1 Reserve Account (after giving effect to any deposits thereto and withdrawals and releases therefrom on such date).
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