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AS TO THE AMOUNT TO BE WITHDRAWN AND PAID PURSUANT TO SECTION 2.4 FROM THE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 2003-5 ACCRUED INTEREST ACCOUNT TO THE EXTENT FUNDS ARE ANTICIPATED TO BE
AVAILABLE FROM INTEREST COLLECTIONS ALLOCABLE TO THE SERIES 2003-5 NOTES AND THE
SERIES 2003-5 INTEREST RATE CAP PROCEEDS PROCESSED FROM BUT NOT INCLUDING THE
PRECEDING DISTRIBUTION DATE THROUGH THE SUCCEEDING DISTRIBUTION DATE IN RESPECT
OF (X) FIRST, AN AMOUNT EQUAL TO THE SERIES 2003-5 MONTHLY INTEREST FOR THE
SERIES 2003-5 INTEREST PERIOD ENDING ON THE DAY PRECEDING THE RELATED
DISTRIBUTION DATE, (Y) SECOND, AN AMOUNT EQUAL TO THE AMOUNT OF ANY UNPAID
SERIES 2003-5 SHORTFALL AS OF THE PRECEDING DISTRIBUTION DATE (TOGETHER WITH ANY
ACCRUED INTEREST ON SUCH SERIES 2003-5 SHORTFALL) AND (Z) THIRD, AN AMOUNT EQUAL
TO THE SURETY PROVIDER FEE FOR SUCH SERIES 2003-5 INTEREST PERIOD PLUS ANY
SURETY PROVIDER REIMBURSEMENT AMOUNTS THEN DUE AND OWING.
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 2003-5 ACCRUED INTEREST ACCOUNT
AND DEPOSIT SUCH AMOUNTS IN THE SERIES 2003-5 DISTRIBUTION ACCOUNT.
24
(B)
LEASE PAYMENT DEFICIT NOTICE.
ON OR BEFORE
10:00 A.M. (NEW YORK CITY TIME) ON EACH DISTRIBUTION DATE, THE ADMINISTRATOR
SHALL NOTIFY THE TRUSTEE AND THE SURETY PROVIDER OF THE AMOUNT OF ANY SERIES
2003-5 LEASE PAYMENT DEFICIT, SUCH NOTIFICATION TO BE IN THE FORM OF EXHIBIT E
TO THIS SUPPLEMENT (EACH A "LEASE PAYMENT DEFICIT NOTICE").
(C)
DRAWS ON SERIES 2003-5 LETTERS OF CREDIT
FOR SERIES 2003-5 LEASE INTEREST PAYMENT DEFICITS.
IF THE ADMINISTRATOR
DETERMINES ON ANY DISTRIBUTION DATE THAT THERE EXISTS A SERIES 2003-5 LEASE
INTEREST PAYMENT DEFICIT, THE ADMINISTRATOR SHALL INSTRUCT THE TRUSTEE IN
WRITING TO DRAW ON THE SERIES 2003-5 LETTERS OF CREDIT, IF ANY, AND, THE TRUSTEE
SHALL, BY 12:00 NOON (NEW YORK CITY TIME) ON SUCH DISTRIBUTION DATE DRAW AN
AMOUNT AS SET FORTH IN SUCH NOTICE EQUAL TO THE LEAST OF (I) SUCH SERIES 2003-5
LEASE INTEREST PAYMENT DEFICIT, (II) THE EXCESS, IF ANY, OF THE SUM OF THE
AMOUNTS DESCRIBED IN CLAUSES (X), (Y) AND (Z) OF SECTION 2.3(A) ABOVE ON SUCH
DISTRIBUTION DATE OVER THE AMOUNTS AVAILABLE FROM THE SERIES 2003-5 ACCRUED
INTEREST ACCOUNT AND (III) THE SERIES 2003-5 LETTER OF CREDIT LIQUIDITY AMOUNT
ON THE SERIES 2003-5 LETTERS OF CREDIT BY PRESENTING TO EACH SERIES 2003-5
LETTER OF CREDIT PROVIDER (WITH A COPY TO THE SURETY PROVIDER) A DRAFT
ACCOMPANIED BY A CERTIFICATE OF LEASE DEFICIT DEMAND AND SHALL CAUSE THE LEASE
DEFICIT DISBURSEMENTS TO BE DEPOSITED IN THE SERIES 2003-5 DISTRIBUTION ACCOUNT
ON SUCH DISTRIBUTION DATE; PROVIDED, HOWEVER, THAT IF THE SERIES 2003-5 CASH
COLLATERAL ACCOUNT HAS BEEN ESTABLISHED AND FUNDED, THE TRUSTEE SHALL WITHDRAW
FROM THE SERIES 2003-5 CASH COLLATERAL ACCOUNT AND DEPOSIT IN THE SERIES 2003-5
DISTRIBUTION ACCOUNT AN AMOUNT EQUAL TO THE LESSER OF (X) THE SERIES 2003-5 CASH
COLLATERAL PERCENTAGE ON SUCH DISTRIBUTION DATE