Common use of Payments to Noteholders Clause in Contracts

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 2017-2 Notes. (a) Note Interest with Respect to the Series 2017-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 2017-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 2017-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 2017-2 Accrued Interest Account and deposit such amounts in the Series 2017-2 Distribution Account.

Appears in 1 contract

Sources: Series 2017 2 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 8 Notes. (a) Note Interest with Respect to the Series 20172023-2 8 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 8 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172023-2 8 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 8 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172023-2 8 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 8 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Interest for the Series 2023-8 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Shortfall), (ix) an amount equal to the Class R Monthly Interest for the Series 20172023-2 8 Interest Period ending on the day preceding the related Distribution Date and (viiix) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 8 Accrued Interest Account and deposit such amounts in the Series 20172023-2 8 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Second Amended and Restated Series 2023 8 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, below the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following each Distribution Date related to the Series 2001-2 Notes of each Class occurring during the period from and including such Determination Date to but excluding the next succeeding Determination Date, the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(aSections 3.3(a) and (g) below in respect of all funds available from Series 2001-2 Interest Rate Cap Proceeds and Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172001-2 Notes. (a) Note Interest with Respect to the Series 2017NOTE INTEREST WITH RESPECT TO THE SERIES 2001-2 NotesNOTES. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and deposited in the Series 2001-2 Collection Account and paid pursuant to Section 2.4 3.4 of this Supplement from the Series 20172001-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable and the Series 2001-2 Interest Rate Cap Proceeds on each Distribution Date related to the Series 20172001-2 Notes of each Class occurring during the period from and including the Program Distribution Date related to such Determination Date to but excluding the next succeeding Program Distribution Date, in each case processed from but not including the AMERICAS 93983148 (2K) 32 preceding Program Distribution Date through preceding such Determination Date to and including the next succeeding Program Distribution Date in respect of (iw) first, PRO RATA, to the Auction Agent, the Auction Agent Fee payable in respect of the Series 2001-2 Notes of such Class on such Distribution Date, and to each applicable Broker-Dealer, the Broker-Dealer Fee payable in respect of the Series 2001-2 Notes of such Class payable in respect of the Series 2001-2 Notes of such Class on such Distribution Date, (x) second, an amount equal to the Class A Monthly Series 2001-2 Periodic Interest for the Series 20172001-2 Notes of such Class for the Interest Period ending on the day preceding the related such Distribution Date, (iiy) third, an amount equal to the amount of any unpaid Shortfalls with respect to the Series 2001-2 Notes of such Class A Shortfall as of the preceding Distribution Date with respect to the Series 2001-2 Notes of such Class (together with any accrued interest on such Class A Shortfall)) and (z) fourth, (iii) an amount equal to the Class B Monthly Interest for Surety Provider Fee with respect to the Series 20172001-2 Notes of such Class for such Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of plus any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date Surety Provider Reimbursement Amounts then due and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall)owing. On the following Distribution DateDate with respect to the Series 2001-2 Notes of such Class, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) 3.3 from the Series 20172001-2 Accrued Interest Account and deposit such amounts in the Series 20172001-2 Distribution Account.

Appears in 1 contract

Sources: Amended and Restated Series 2001 2 Supplement (Avis Group Holdings Inc)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172020-2 1 Notes. (a) Note Interest with Respect to the Series 20172020-2 1 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172020-2 1 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172020-2 1 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172020-2 1 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172020-2 1 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172020-2 1 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 20172020-2 1 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172020-2 1 Accrued Interest Account and deposit such amounts in the Series 20172020-2 1 Distribution Account.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 4 Notes. (a) Note Interest with Respect to the Series 20172023-2 4 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 4 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172023-2 4 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 4 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172023-2 4 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 4 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Interest for the Series 2023-4 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Shortfall), (ix) an amount equal to the Class R Monthly Interest for the Series 20172023-2 4 Interest Period ending on the day preceding the related Distribution Date and (viiix) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 4 Accrued Interest Account and deposit such amounts in the Series 20172023-2 4 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Second Amended and Restated Series 2023 4 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 5 Notes. (a) Note Interest with Respect to the Series 20172023-2 5 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 5 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172023-2 5 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 5 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172023-2 5 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 5 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 20172023-2 5 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 5 Accrued Interest Account and deposit such amounts in the Series 20172023-2 5 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172011-2 Notes. (a) Note Interest with Respect to the Series 20172011-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172011-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172011-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172011-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172011-2 Interest Period ending on the day preceding the related Distribution Date, Date and (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172011-2 Accrued Interest Account and deposit such amounts in the Series 20172011-2 Distribution Account.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172010-2 3 Notes. (a) Note Interest with Respect to the Series 20172010-2 3 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172010-2 3 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172010-2 3 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) first, an amount equal to the Class A Monthly Interest for the Series 20172010-2 3 Interest Period ending on the day preceding the related Distribution Date, (ii) second, an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) third, an amount equal to the Class B Monthly Interest for the Series 20172010-2 3 Interest Period ending on the day preceding the related Distribution Date, Date and (iv) fourth, an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172010-2 3 Accrued Interest Account and deposit such amounts in the Series 20172010-2 3 Distribution Account.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172025-2 Notes. (a) Note Interest with Respect to the Series 20172025-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172025-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172025-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172025-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172025-2 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172025-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Interest for the Series 2025-2 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Shortfall), (ix) an amount equal to the Class R Monthly Interest for the Series 20172025-2 Interest Period ending on the day preceding the related Distribution Date and (viiix) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172025-2 Accrued Interest Account and deposit such amounts in the Series 20172025-2 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class D Notes for so long as ABRCF owns 100% of the Class D Notes.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest AMERICAS 96004183 32 Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172018-2 Notes. (a) Note Interest with Respect to the Series 20172018-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172018-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172018-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172018-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172018-2 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172018-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 20172018-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172018-2 Accrued Interest Account and deposit such amounts in the Series 20172018-2 Distribution Account.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 8 Notes. (a) Note Interest with Respect to the Series 20172023-2 8 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 8 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172023-2 8 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 8 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 2017AMERICAS 128889470 41 2023-2 8 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 8 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Senior Interest for the Series 2023-8 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Senior Interest Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Senior Interest Shortfall), (ix) if either (A) no Series 2023-8 Rapid Amortization Period is continuing as of such Determination Date or (B) no Class A Notes, Class B Notes or Class C Notes are outstanding as of such Determination Date, an amount equal to the Class D Monthly Subordinated Interest for the Series 2023-8 Interest Period ending on the day preceding the related Distribution Date, (x) if either (A) no Series 2023-8 Rapid Amortization Period is continuing as of such Determination Date or (B) no Class A Notes, Class B Notes or Class C Notes are outstanding as of such Determination Date, an amount equal to the amount of any unpaid Class D Subordinated Interest Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Subordinated Interest Shortfall), (xi) an amount equal to the Class R Monthly Interest for the Series 20172023-2 8 Interest Period ending on the day preceding the related Distribution Date and (viiixii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 8 Accrued Interest Account and deposit such amounts in the Series 20172023-2 8 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Amended and Restated Series 2023 8 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172021-2 1 Notes. (a) Note Interest with Respect to the Series 20172021-2 1 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172021-2 1 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172021-2 1 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172021-2 1 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172021-2 1 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172021-2 1 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Interest for the Series 2021-1 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Shortfall), (ix) an amount equal to the Class R Monthly Interest for the Series 20172021-2 1 Interest Period ending on the day preceding the related Distribution Date and (viiix) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172021-2 1 Accrued Interest Account and deposit such amounts in the Series 20172021-2 1 Distribution Account.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172011-2 3 Notes. (a) Note Interest with Respect to the Series 20172011-2 3 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172011-2 3 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172011-2 3 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172011-2 3 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172011-2 3 Interest Period ending on the day preceding the related Distribution Date, Date (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172011-2 3 Interest Period ending on the day preceding the related Distribution Date, Date and (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172011-2 3 Accrued Interest Account and deposit such amounts in the Series 20172011-2 3 Distribution Account.

Appears in 1 contract

Sources: Amended and Restated Series 2011 3 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172011-2 5 Notes. (a) Note Interest with Respect to the Series 20172011-2 5 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172011-2 5 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172011-2 5 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172011-2 5 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172011-2 5 Interest Period ending on the day preceding the related Distribution Date, Date and (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172011-2 5 Accrued Interest Account and deposit such amounts in the Series 20172011-2 5 Distribution Account.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the AMERICAS 129834063 40 Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 7 Notes. (a) Note Interest with Respect to the Series 20172023-2 7 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 7 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172023-2 7 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 7 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172023-2 7 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 7 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Interest for the Series 2023-7 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Shortfall), (ix) an amount equal to the Class R Monthly Interest for the Series 20172023-2 7 Interest Period ending on the day preceding the related Distribution Date and (viiix) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 7 Accrued Interest Account and deposit such amounts in the Series 20172023-2 7 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Second Amended and Restated Series 2023 7 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172010-2 5 Notes. (a) Note Interest with Respect to the Series 20172010-2 5 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172010-2 5 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172010-2 5 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) first, an amount equal to the Class A Monthly Interest for the Series 20172010-2 5 Interest Period ending on the day preceding the related Distribution Date, (ii) second, an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) third, an amount equal to the Class B Monthly Interest for the Series 20172010-2 5 Interest Period ending on the day preceding the related Distribution Date, (iv) fourth, an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) fifth, an amount equal to the Class C Monthly Interest for the Series 20172010-2 5 Interest Period ending on the day preceding the related Distribution Date, (vi) sixth, an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172010-2 5 Accrued Interest Account and deposit such amounts in the Series 20172010-2 5 Distribution Account.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172015-2 Notes. (a) Note Interest with Respect to the Series 20172015-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172015-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172015-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172015-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172015-2 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172015-2 Interest Period ending on the day preceding the related Distribution Date, Date and (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172015-2 Accrued Interest Account and deposit such amounts in the Series 20172015-2 Distribution Account.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172020-2 Notes. (a) Note Interest with Respect to the Series 20172020-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172020-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172020-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172020-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172020-2 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172020-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Senior Interest for the Series 2020-2 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Senior Interest Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Senior Interest Shortfall), (ix) if either (A) no Series 2020-2 Rapid Amortization Period is continuing as of such Determination Date or (B) no Class A Notes, Class B Notes or Class C Notes are outstanding as of such Determination Date, an amount equal to the Class D Monthly Subordinated Interest for the Series 2020-2 Interest Period ending on the day preceding the related Distribution Date, (x) if either (A) no Series 2020-2 Rapid Amortization Period is continuing as of such Determination Date or (B) no Class A Notes, Class B Notes or Class C Notes are outstanding as of such Determination Date, an amount equal to the amount of any unpaid Class D Subordinated Interest Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Subordinated Interest Shortfall), (xi) an amount equal to the Class R Monthly Interest for the Series 20172020-2 Interest Period ending on the day preceding the related Distribution Date and (viiixii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172020-2 Accrued Interest Account and deposit such amounts in the Series 20172020-2 Distribution Account.

Appears in 1 contract

Sources: Amended and Restated Series 2020 2 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172012-2 3 Notes. (a) Note Interest with Respect to the Series 20172012-2 3 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172012-2 3 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172012-2 3 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172012-2 3 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid NEWYORK 8960493 (2K)A&R Series 2012-3 Supplement (Class C Note issuance) 36 Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172012-2 3 Interest Period ending on the day preceding the related Distribution Date, Date (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172012-2 3 Interest Period ending on the day preceding the related Distribution Date, Date and (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172012-2 3 Accrued Interest Account and deposit such amounts in the Series 20172012-2 3 Distribution Account.

Appears in 1 contract

Sources: Amended and Restated Series 2012 3 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 Notes. (a) Note Interest with Respect to the Series 20172023-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172023-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172023-2 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding 41 Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Senior Interest for the Series 2023-2 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Senior Interest Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Senior Interest Shortfall), (ix) if either (A) no Series 2023-2 Rapid Amortization Period is continuing as of such Determination Date or (B) no Class A Notes, Class B Notes or Class C Notes are outstanding as of such Determination Date, an amount equal to the Class D Monthly Subordinated Interest for the Series 2023-2 Interest Period ending on the day preceding the related Distribution Date, (x) if either (A) no Series 2023-2 Rapid Amortization Period is continuing as of such Determination Date or (B) no Class A Notes, Class B Notes or Class C Notes are outstanding as of such Determination Date, an amount equal to the amount of any unpaid Class D Subordinated Interest Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Subordinated Interest Shortfall), (xi) an amount equal to the Class R Monthly Interest for the Series 20172023-2 Interest Period ending on the day preceding the related Distribution Date and (viiixii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 Accrued Interest Account and deposit such amounts in the Series 20172023-2 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Amended and Restated Series 2023 2 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172021-2 Notes. (a) Note Interest with Respect to the Series 20172021-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172021-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172021-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172021-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172021-2 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172021-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Interest for the Series 2021-2 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Shortfall), (ix) an amount equal to the Class R Monthly Interest for the Series 20172021-2 Interest Period ending on the day preceding the related Distribution Date and (viiix) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172021-2 Accrued Interest Account and deposit such amounts in the Series 20172021-2 Distribution Account.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172018-2 Notes. (a) Note Interest with Respect to the Series 20172018-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172018-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172018-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172018-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172018-2 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172018-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Interest for the Series 2018-2 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Shortfall), (ix) an amount equal to the Class R Monthly Interest for the Series 20172018-2 Interest Period ending on the day preceding the related Distribution Date and (viiix) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172018-2 Accrued Interest Account and deposit such amounts in the Series 20172018-2 Distribution Account.

Appears in 1 contract

Sources: Amended and Restated Series 2018 2 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172012-2 Notes. (a) Note Interest with Respect to the Series 20172012-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172012-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172012-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172012-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172012-2 Interest Period ending on the day preceding the related Distribution Date, Date (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172012-2 Interest Period ending on the day preceding the related Distribution Date, Date and (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172012-2 Accrued Interest Account and deposit such amounts in the Series 20172012-2 Distribution Account.

Appears in 1 contract

Sources: Amended and Restated Series 2012 2 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172013-2 Notes. (a) Note Interest with Respect to the Series 20172013-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172013-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172013-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172013-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172013-2 Interest Period ending on the day preceding the related Distribution Date, Date (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172013-2 Interest Period ending on the day preceding the related Distribution Date, Date and (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172013-2 Accrued Interest Account and deposit such amounts in the Series 20172013-2 Distribution Account.

Appears in 1 contract

Sources: Amended and Restated Series 2013 2 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 4 Notes. (a) Note Interest with Respect to the Series 20172023-2 4 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 4 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172023-2 4 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 4 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172023-2 4 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 4 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Senior Interest for the Series 2023-4 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Senior Interest Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Senior Interest Shortfall), (ix) if either (A) no Series 2023-4 Rapid Amortization Period is continuing as of such Determination Date or (B) no Class A Notes, Class B Notes or Class C Notes are outstanding as of such Determination Date, an amount equal to the Class D Monthly Subordinated Interest for the Series 2023-4 Interest Period ending on the day preceding the related Distribution Date, (x) if either (A) no Series 2023-4 Rapid Amortization Period is continuing as of such Determination Date or (B) no Class A Notes, Class B Notes or Class C Notes are outstanding as of such Determination Date, an amount equal to the amount of any unpaid Class D Subordinated Interest Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Subordinated Interest Shortfall), (xi) an amount equal to the Class R Monthly Interest for the Series 20172023-2 4 Interest Period ending on the day preceding the related Distribution Date and (viiixii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 4 Accrued Interest Account and deposit such amounts in the Series 20172023-2 4 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Amended and Restated Series 2023 4 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172013-2 Notes. (a) Note Interest with Respect to the Series 20172013-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172013-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172013-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172013-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172013-2 Interest Period ending on the day preceding the related Distribution Date, Date and (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172013-2 Accrued Interest Account and deposit such amounts in the Series 20172013-2 Distribution Account.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172019-2 3 Notes. (a) Note Interest with Respect to the Series 20172019-2 3 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172019-2 3 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172019-2 3 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of of (i) an amount equal to the Class A Monthly Interest for the Series 20172019-2 3 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172019-2 3 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172019-2 3 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Interest for the Series 2019-3 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Shortfall), (ix) an amount equal to the Class R Monthly Interest for the Series 20172019-2 3 Interest Period ending on the day preceding the related Distribution Date and (viiix) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172019-2 3 Accrued Interest Account and deposit such amounts in the Series 20172019-2 3 Distribution Account.

Appears in 1 contract

Sources: Amended and Restated Series 2019 3 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172020-2 Notes. (a) Note Interest with Respect to the Series 20172020-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172020-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172020-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172020-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172020-2 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172020-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 20172020-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172020-2 Accrued Interest Account and deposit such amounts in the Series 20172020-2 Distribution Account.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 4 Notes. (a) Note Interest with Respect to the Series 20172023-2 4 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 4 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172023-2 4 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 4 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172023-2 4 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 4 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 20172023-2 4 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 4 Accrued Interest Account and deposit such amounts in the Series 20172023-2 4 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172019-2 1 Notes. (a) Note Interest with Respect to the Series 20172019-2 1 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172019-2 1 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172019-2 1 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172019-2 1 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172019-2 1 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172019-2 1 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 20172019-2 1 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172019-2 1 Accrued Interest Account and deposit such amounts in the Series 20172019-2 1 Distribution Account.

Appears in 1 contract

Sources: Series 2019 1 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 7 Notes. (a) Note Interest with Respect to the Series 20172023-2 7 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 7 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172023-2 7 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 7 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172023-2 7 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 7 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 20172023-2 7 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 7 Accrued Interest Account and deposit such amounts in the Series 20172023-2 7 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the AMERICAS 129552364 40 Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 Notes. (a) Note Interest with Respect to the Series 20172023-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172023-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172023-2 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Interest for the Series 2023-2 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Shortfall), (ix) an amount equal to the Class R Monthly Interest for the Series 20172023-2 Interest Period ending on the day preceding the related Distribution Date and (viiix) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 Accrued Interest Account and deposit such amounts in the Series 20172023-2 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Second Amended and Restated Series 2023 2 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172019-2 Notes. (a) Note Interest with Respect to the Series 20172019-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172019-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172019-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172019-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172019-2 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172019-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Interest for the Series 2019-2 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Shortfall), (ix) an amount equal to the Class R Monthly Interest for the Series 20172019-2 Interest Period ending on the day preceding the related Distribution Date and (viiix) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172019-2 Accrued Interest Account and deposit such amounts in the Series 20172019-2 Distribution Account.

Appears in 1 contract

Sources: Amended and Restated Series 2019 2 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 5 Notes. (a) Note Interest with Respect to the Series 20172023-2 5 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 5 Accrued Interest Account to the extent funds are anticipated to AMERICAS 129551751 40 be available from Interest Collections allocable to the Series 20172023-2 5 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 5 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172023-2 5 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 5 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Interest for the Series 2023-5 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Shortfall), (ix) an amount equal to the Class R Monthly Interest for the Series 20172023-2 5 Interest Period ending on the day preceding the related Distribution Date and (viiix) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 5 Accrued Interest Account and deposit such amounts in the Series 20172023-2 5 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Second Amended and Restated Series 2023 5 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 Notes. (a) Note Interest with Respect to the Series 20172023-2 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172023-2 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172023-2 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 20172023-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 Accrued Interest Account and deposit such amounts in the Series 20172023-2 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172011-2 5 Notes. (a) Note Interest with Respect to the Series 20172011-2 5 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172011-2 5 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172011-2 5 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172011-2 5 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172011-2 5 Interest Period ending on the day preceding the related Distribution Date, Date (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172011-2 5 Interest Period ending on the day preceding the related Distribution Date, Date and (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 2017-2 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172011-2 5 Accrued Interest Account and deposit such amounts in the Series 20172011-2 5 Distribution Account.

Appears in 1 contract

Sources: Amended and Restated Series 2011 5 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 6 Notes. (a) Note Interest with Respect to the Series 20172023-2 6 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 6 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172023-2 6 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 6 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172023-2 6 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 6 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Senior Interest for the Series 2023-6 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Senior Interest Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Senior Interest Shortfall), (ix) if either (A) no Series 2023-6 Rapid Amortization Period is continuing as of such Determination Date or (B) no Class A Notes, Class B Notes or Class C Notes are outstanding as of such Determination Date, an amount equal to the Class D Monthly Subordinated Interest for the Series 2023-6 Interest Period ending on the day preceding the related Distribution Date, (x) if either (A) no Series 2023-6 Rapid Amortization Period is continuing as of such Determination Date or (B) no Class A Notes, Class B Notes or Class C Notes are outstanding as of such Determination Date, an amount equal to the amount of any unpaid Class D Subordinated Interest Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Subordinated Interest Shortfall), (xi) an amount equal to the Class R Monthly Interest for the Series 20172023-2 6 Interest Period ending on the day preceding the related Distribution Date and (viiixii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 6 Accrued Interest Account and deposit such amounts in the Series 20172023-2 6 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Amended and Restated Series 2023 6 Supplement (Avis Budget Group, Inc.)

Payments to Noteholders. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section 2.3(a) below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders of the Series 20172023-2 6 Notes. (a) Note Interest with Respect to the Series 20172023-2 6 Notes. On each Determination Date, the Administrator shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from the Series 20172023-2 6 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to the Series 20172023-2 6 Notes processed from but not including the AMERICAS 93983148 (2K) 32 preceding Distribution Date through the succeeding Distribution Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 20172023-2 6 Interest Period ending on the day preceding the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 20172023-2 6 Interest Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 20172023-2 6 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class R Monthly Interest for the Series 20172023-2 6 Interest Period ending on the day preceding the related Distribution Date and (viii) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first sentence of this Section 2.3(a) from the Series 20172023-2 6 Accrued Interest Account and deposit such amounts in the Series 20172023-2 6 Distribution Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class C Notes for so long as ABRCF owns 100% of the Class C Notes.

Appears in 1 contract

Sources: Series Supplement (Avis Budget Group, Inc.)