Common use of Application of Interest Drawings Clause in Contracts

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of the Class G Certificateholders, shall be promptly distributed to the Class G Trustee and (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than to the Class G Trustee on behalf of the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility hereunder.

Appears in 4 contracts

Sources: Intercreditor Agreement (Us Airways Inc), Intercreditor Agreement (Us Airways Inc), Intercreditor Agreement (Us Airways Inc)

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G A-1 Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G A-1 Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of the Class G A-1 Certificateholders, shall be promptly distributed to the Class G Trustee A-1 Trustee, (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class A-2 Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class A-2 Cash Collateral Account, and payable in each case to the Class A-2 Certificateholders, shall be promptly distributed to the Class A-2 Trustee, (iii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class B Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class B Cash Collateral Account, and payable in each case to the Class B Certificateholders, shall be promptly distributed to the Class B Trustee, and (iiiv) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than to the Class G Trustee on behalf of the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility hereunder.

Appears in 4 contracts

Sources: Intercreditor Agreement (American Airlines Inc), Intercreditor Agreement (Delta Air Lines Inc /De/), Intercreditor Agreement (American Airlines Inc)

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G AA Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G AA Cash Collateral Account, and payable payable, in each case case, to the Class G Trustee on behalf of AA Certificateholders or the Class G CertificateholdersAA Trustee, shall be promptly distributed to the Class G Trustee and AA Trustee, (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C A Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C A Cash Collateral Account, and payable payable, in each case case, to the Class C Trustee on behalf of A Certificateholders or the Class C CertificateholdersA Trustee, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date A Trustee and (iii) all payments received by the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G B Liquidity Facility or a withdrawal and all amounts withdrawn by the Subordination Agent from the Class G B Cash Collateral Account to pay Accrued Class G InterestAccount, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policyand payable, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than in each case, to the Class G Trustee on behalf of B Certificateholders or the Class G Certificateholders and B Trustee, shall constitute an Interest Drawing under be promptly distributed to the Class G Liquidity Facility hereunderB Trustee.

Appears in 3 contracts

Sources: Intercreditor Agreement (American Airlines Inc), Intercreditor Agreement (American Airlines Inc), Intercreditor Agreement (American Airlines Inc)

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G AA Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G AA Cash Collateral Account, and payable payable, in each case case, to the Class G Trustee on behalf of AA Certificateholders or the Class G CertificateholdersAA Trustee, shall be promptly distributed to the Class G Trustee and AA Trustee, (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C A Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C A Cash Collateral Account, and payable payable, in each case case, to the Class C Trustee on behalf of A Certificateholders or the Class C CertificateholdersA Trustee, shall be promptly distributed to the Class C A Trustee, except that if after any Distribution Date and (iii) all payments received by the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G B Liquidity Facility or a withdrawal and all amounts withdrawn by the Subordination Agent from the Class G B Cash Collateral Account to pay Accrued Class G InterestAccount, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policyand payable, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than in each case, to the Class G Trustee on behalf of B Certificateholders or the Class G Certificateholders and B Trustee, shall constitute an Interest Drawing under be promptly distributed to the Class G Liquidity Facility hereunderB Trustee.

Appears in 3 contracts

Sources: Intercreditor Agreement (American Airlines Inc), Intercreditor Agreement (American Airlines Inc), Intercreditor Agreement (American Airlines Inc)

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of the Class G Certificateholders, shall be promptly distributed to the Class G Trustee Trustee, and (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, Interest after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than to the Class G Trustee on behalf of the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account, as the case may be, hereunder.

Appears in 2 contracts

Sources: Intercreditor Agreement (America West Airlines Inc), Intercreditor Agreement (America West Airlines Inc)

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G A Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G A Cash Collateral Account, and payable in each case to the Class G A Trustee on behalf of the Class G A Certificateholders, shall be promptly distributed to the Class G A Trustee, (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class B Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class B Cash Collateral Account, and payable in each case to the Class B Trustee on behalf of the Class B Certificateholders, shall be promptly distributed to the Class B Trustee and (iiiii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than to the Class G Trustee on behalf of the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility hereunder.

Appears in 1 contract

Sources: Intercreditor Agreement (Us Airways Inc)

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of the Class G Certificateholders, shall be promptly distributed to the Class G Trustee and (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, Interest after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than to the Class G Trustee on behalf of the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account hereunder.

Appears in 1 contract

Sources: Intercreditor Agreement (Amtran Inc)

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G A-1 Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G A-1 Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of the Class G A-1 Certificateholders, shall be promptly distributed to the Class G A-1 Trustee and (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class A-2 Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class A-2 Cash Collateral Account, and payable in each case to the Class A-2 Certificateholders, shall be promptly distributed to the Class A-2 Trustee and (iii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class B Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class B Cash Collateral Account, and payable in each case to the Class B Certificateholders, shall be promptly distributed to the Class B Trustee and (iv) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than to the Class G Trustee on behalf of the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility hereunder.

Appears in 1 contract

Sources: Intercreditor Agreement (Northwest Airlines Corp)

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G A Liquidity Facility Facilities and all amounts withdrawn by the Subordination Agent from the Class G A Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of the Class G A Certificateholders, shall be promptly distributed to the Class G Trustee and A Trustee, (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C B Liquidity Facility Facilities and all amounts withdrawn by the Subordination Agent from the Class C B Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C B Certificateholders, shall be promptly distributed to the Class C B Trustee, except that if after any Distribution Date (iii) all payments received by the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G C-I Liquidity Facility or a withdrawal Facilities and all amounts withdrawn by the Subordination Agent from the Class G C-I Cash Collateral Account to pay Accrued Class G InterestAccount, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than and payable in each case to the Class G Trustee on behalf of C-I Certificateholders, shall be promptly distributed to the Class G Certificateholders C-I Trustee, and shall constitute (iv) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G C-II Liquidity Facility hereunderFacilities and all amounts withdrawn by the Subordination Agent from the Class C-II Cash Collateral Account, and payable in each case to the Class C-II Certificateholders, shall be promptly distributed to the Class C-II Trustee.

Appears in 1 contract

Sources: Intercreditor Agreement (Continental Airlines Inc /De/)

Application of Interest Drawings. Notwithstanding anything to the -------------------------------- contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G A-1 Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G A-1 Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of the Class G A-1 Certificateholders, shall be promptly distributed to the Class G Trustee and A-1 Trustee, (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C A-2 Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C A-2 Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C A-2 Certificateholders, shall be promptly distributed to the Class C A-2 Trustee, except that if after any Distribution Date and (iii) all payments received by the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G B Liquidity Facility or a withdrawal and all amounts withdrawn by the Subordination Agent from the Class G B Cash Collateral Account to pay Accrued Class G InterestAccount, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than and payable in each case to the Class G Trustee on behalf of B Certificateholders, shall be promptly distributed to the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility hereunderB Trustee.

Appears in 1 contract

Sources: Intercreditor Agreement (United Air Lines Inc)

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G AA Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G AA Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of AA Certificateholders or the Class G CertificateholdersAA Trustee, shall be promptly distributed to the Class G Trustee and AA Trustee, (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C A Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C A Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of A Certificateholders or the Class C CertificateholdersA Trustee, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date A Trustee and (iii) all payments received by the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G B Liquidity Facility or a withdrawal and all amounts withdrawn by the Subordination Agent from the Class G B Cash Collateral Account to pay Accrued Class G InterestAccount, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than and payable in each case to the Class G Trustee on behalf of B Certificateholders or the Class G Certificateholders and B Trustee, shall constitute an Interest Drawing under be promptly distributed to the Class G Liquidity Facility hereunder.B Trustee

Appears in 1 contract

Sources: Intercreditor Agreement (Jetblue Airways Corp)

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G A-1 Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G A-1 Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of A-1 Certificateholders or the Class G A-1 Trustee, shall be promptly distributed to the Class A-1 Trustee, (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class A-2 Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class A-2 Cash Collateral Account, and payable in each case to the Class A-2 Certificateholders, shall be promptly distributed to the Class G A-2 Trustee, (iii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class B Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class B Cash Collateral Account, and payable in each case to the Class B Certificateholders, shall be promptly distributed to the Class B Trustee and (iiiv) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than to the Class G Trustee on behalf of the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility hereunder.

Appears in 1 contract

Sources: Intercreditor Agreement (Atlas Air Inc)

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G A-1 Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G A-1 Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of the Class G A-1 Certificateholders, shall be promptly distributed to the Class G Trustee A-1 Trustee, (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class A-2 Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class A-2 Cash Collateral Account, and payable in each case to the Class A-2 Certificateholders, shall be promptly distributed to the Class A-2 Trustee, (iii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class B Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class B Cash Collateral Account, and payable in each case to the Class B Certificateholders, shall be promptly distributed to the Class B Trustee, and (iiiv) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trustee. For the avoidance of doubt, except that if after any Distribution Date Interest Drawings and Applied Provider Advances (as defined in the Subordination Agent shall receive any amount Liquidity Facilities) to be applied in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly payment of interest with respect to the Policy Provider as reimbursement Certificates shall not include any amount of such Policy Drawing rather than to interest due and payable on the Class G Trustee on behalf of the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility hereunderDeposits.

Appears in 1 contract

Sources: Intercreditor Agreement (American Airlines Inc)

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G AA Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G AA Cash Collateral Account, and payable payable, in each case case, to the Class G Trustee on behalf of AA Certificateholders or the Class G CertificateholdersAA Trustee, shall be promptly distributed to the Class G Trustee and AA Trustee, (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C A Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C A Cash Collateral Account, and payable payable, in each case case, to the Class C Trustee on behalf of A Certificateholders or the Class C CertificateholdersA Trustee, shall be promptly distributed to the Class C A Trustee, except that if after any Distribution Date . and (iii) all payments received by the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G B Liquidity Facility or a withdrawal and all amounts withdrawn by the Subordination Agent from the Class G B Cash Collateral Account to pay Accrued Class G InterestAccount, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policyand payable, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than in each case, to the Class G Trustee on behalf of B Certificateholders or the Class G Certificateholders and B Trustee, shall constitute an Interest Drawing under be promptly distributed to the Class G Liquidity Facility hereunderB Trustee.

Appears in 1 contract

Sources: Intercreditor Agreement (American Airlines Inc)