Avis 2010 Annual Report Download - page 524

prior to the fifth Business Day after the occurrence of such Series 2010-1 Lease Payment Deficit (a “ Past Due Rent Payment ”), the
Administrator shall direct the Trustee in writing pursuant to the Group II Administration Agreement to allocate to the Series 2010-1 Collection
Account an amount equal to the Series 2010-1 Invested Percentage as of the date of the occurrence of such Series 2010-1 Lease Payment Deficit
of the Collections attributable to such Past Due Rent Payment (the “ Series 2010-1 Past Due Rent Payment ”). The Administrator shall instruct
the Trustee in writing pursuant to the Administration Agreement to withdraw from the Series 2010-1 Collection Account and apply the Series
2010-1 Past Due Rent Payment in the following order:
(i) if the occurrence of such Series 2010-1 Lease Payment Deficit resulted in a withdrawal being made from the Series 2010-1
Reserve Account pursuant to Section 4.3(d), deposit in the Series 2010-1 Reserve Account an amount equal to the lesser of (x) the Series
2010-1 Past Due Rent Payment and (y) the excess, if any, of the Series 2010-1 Required Reserve Account Amount over the Series 2010-1
Available Reserve Account Amount on such day;
(ii) if the occurrence of the related Series 2010-1 Lease Payment Deficit resulted in one or more Lease Deficit Disbursements being
made under the Series 2010-1 Letters of Credit, pay to each Series 2010-1 Letter of Credit Provider who made such a Lease Deficit
Disbursement for application in accordance with the provisions of the applicable Series 2010-1 Reimbursement Agreement an amount
equal to the lesser of (x) the unreimbursed amount of such Series 2010-1 Letter of Credit Provider’s Lease Deficit Disbursement and
(y) such Series 2010-1 Letter of Credit Provider’s pro rata share, calculated on the basis of the unreimbursed amount of each Series 2010-1
Letter of Credit Provider’s Lease Deficit Disbursement, of the amount of the Series 2010-1 Past Due Rent Payment remaining after
payment pursuant to clause (i) above;
(iii) if the occurrence of such Series 2010-1 Lease Payment Deficit resulted in a withdrawal being made from the Series 2010-1 Cash
Collateral Account, deposit in the Series 2010-1 Cash Collateral Account an amount equal to the lesser of (x) the amount of the Series
2010-1 Past Due Rent Payment remaining after any payment pursuant to clauses (i) and (ii) above and (y) the amount withdrawn from the
Series 2010-1 Cash Collateral Account on account of such Series 2010-1 Lease Payment Deficit;
(iv) allocate to the Series 2010-1 Accrued Interest Account the amount, if any, by which the Series 2010-1 Lease Interest Payment
Deficit, if any, relating to such Series 2010-1 Lease Payment Deficit exceeds the amount of the Series 2010-1 Past Due Rent Payment
applied pursuant to clauses (i), (ii) and (iii) above; and
(v) treat the remaining amount of the Series 2010-1 Past Due Rent Payment as Principal Collections allocated to the Series 2010-1
Notes in accordance with Section 4.2(a)(ii).
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