Avis 2010 Annual Report Download - page 514

“ Series 2010-1 Eligible Letter of Credit Provider ” means, a Person satisfactory to ABCR and the Demand Note Issuer and having,
at the time of the issuance of the related Series 2010-1 Letter of Credit, a long-term senior unsecured debt rating (or equivalent thereof) of at
least “A1” from Moody’s and a short-term senior unsecured debt rating of “P-1” from Moody’s that is (a) a commercial bank having total assets
in excess of $500,000,000, (b) a finance company, insurance company or other financial institution that in the ordinary course of business issues
letters of credit and has total assets in excess of $200,000,000 or (c) any other financial institution; provided , that if a Person is not a Series
2010-1 Letter of Credit Provider (or a letter of credit provider under the Series Supplement for any other Series of Notes), then such person shall
not be a Series 2010-1 Eligible Letter of Credit Provider until the Issuer has provided 10 days’ prior written notice to Moody’s that such person
has been proposed as a Series 2010-1 Letter of Credit Provider.
“ Series 2010-1 Enhancement ” means the Series 2010-1 Cash Collateral Account Collateral, the Series 2010-1 Letters of Credit, the
Series 2010-1 Demand Notes and the Series 2010-1 Overcollateralization Amount and the Series 2010-1 Reserve Account Amount.
“ Series 2010-1 Enhancement Amount ” means, as of any date of determination, the sum of (i) the Series 2010-1
Overcollateralization Amount as of such date, (ii) the Series 2010-1 Letter of Credit Amount as of such date and (iii) the Series 2010-
1 Available
Reserve Account Amount as of such date.
“ Series 2010-1 Enhancement Deficiency ” means, as of any date of determination, the amount, if any, by which the Series 2010-1
Enhancement Amount as of such date is less than the Series 2010-1 Required Enhancement Amount as of such date.
“ Series 2010-1 Expected Final Distribution Date ” means the July 2015 Distribution Date.
“ Series 2010-1 Initial Invested Amount ” means the aggregate initial principal amount of the Series 2010-1 Notes, which is
$200,000,000.
“ Series 2010-1 Interest Period ” means a period commencing on and including a Distribution Date and ending on and including the
day preceding the next succeeding Distribution Date; provided , however , that the initial Series 2010-1 Interest Period shall commence on and
include the Series 2010-1 Closing Date and end on and include April 19, 2010.
“ Series 2010-1 Invested Amount ” means on any date of determination, an amount equal to (a) the Series 2010-1 Initial Invested
Amount minus (b) the amount of principal payments made to the Series 2010-1 Noteholders on or prior to such date.
“ Series 2010-1 Invested Percentage ” means as of any date of determination:
(a) when used with respect to Principal Collections, the percentage equivalent (which percentage shall never exceed 100%) of a
fraction the numerator of which shall be equal to the sum of the Series 2010-1 Invested Amount and the Series 2010-1
Overcollateralization Amount, as of the immediately preceding Business Day, and the
11