Application of Proceeds and Payments Sample Clauses
Application of Proceeds and Payments. Any payments received at any time by Lessor or by Lessee from any insurer (including a Governmental Entity providing an indemnity in lieu thereof) with respect to an Event of Loss shall be applied in the manner specified in Sections 12(c) and (e) hereof. Subject to Section 11(f) below, any payments (other than insurance or such indemnity proceeds) received at any time by Lessor or Lessee from any Governmental Entity or other Person with respect to an Event of Loss will be applied as follows (after reimbursement of Lessor, Indenture Trustee and Owner Participant for their reasonable out-of-pocket costs and expenses):
(i) unless clause (ii) below is applicable, so much of such payments as shall not exceed the Stipulated Loss Value and other payments required to be paid by Lessee pursuant to Section 11(a)(ii) of this Lease shall be paid to Lessor in reduction of Lessee's obligation to pay such Stipulated Loss Value and other payments, if not already paid by Lessee, or, if already paid by Lessee, shall (unless a Default or an Event of Default shall have occurred and be continuing) be applied by Lessor to reimburse Lessee for its payment of such Stipulated Loss Value and other payments and the balance, if any, of such payment remaining thereafter shall be paid over to, or retained by, Lessor; or
(ii) if such payments are received as a result of an Event of Loss with respect to the Airframe or an Engine which is being replaced pursuant to Section
Application of Proceeds and Payments. Any and all proceeds, interest, profits, and Income and Proceeds that Lender actually receives and collects, whether resulting from the public or private sale of the Collateral and/or collection or exercise of any of L▇▇▇▇▇'s rights provided hereunder, shall be applied first to reimburse Lender for its costs of collecting the same (including, but not limited to, any attorneys' fees incurred by L▇▇▇▇▇ and L▇▇▇▇▇'s court costs, whether or not there is a lawsuit, including any fees on appeal incurred by Lender in connection with the collection or sale of the Collateral), with the balance being applied to principal, interest, costs, expenses, attorneys' fees and other fees and charges under the Indebtedness, in such order and with such preferences and priorities as Lender shall determine within its sole discretion.
Application of Proceeds and Payments. Any proceeds realized by BMO InvestorLine pursuant to the exercise of any remedy set forth in Section 11 and any repayments or reimbursements to BMO InvestorLine on account of any Obligations to BMO InvestorLine shall be applied as follows:
(a) firstly, to reduce the Indebtedness to BMO InvestorLine and, any interest thereon, and any repayment or reimbursement so applied, other than a repayment or reimbursement by or on behalf of the Bank, shall reduce the Indebtedness to the Bank by the same amount;
(b) secondly, against any other Obligations to BMO InvestorLine; and
(c) thirdly, to the Client unless otherwise required by applicable law. The Client shall remain liable for, and shall forthwith pay, without duplication, and subject always to Section 7, the balance of any Obligations to BMO InvestorLine and the balance of any Indebtedness to the Bank, which remain outstanding after the application of such proceeds, together with interest thereon.
Application of Proceeds and Payments. (a) So long as the Discharge of Senior Lien Obligations has not occurred, any Collateral or proceeds thereof received by the Senior Lien Collateral Agent in connection with the sale or other disposition of, or collection on, such Collateral upon the exercise of any Enforcement Action, shall be applied by the Senior Lien Collateral Agent to the Senior Lien Obligations in such order as specified in the relevant Senior Lien Note Documents. Upon the Discharge of Senior Lien Obligations, the Senior Lien Collateral Agent shall deliver to the Cash Pay Second Lien Trustee and the Non-Cash Pay Second Lien Trustee on a pro rata basis in relation to the then aggregate amounts outstanding (under each of the Cash Pay Second Lien Indenture and the Non-Cash Pay Second Lien Indenture, such amounts being certified to the Senior Lien Collateral Agent by the respective trustees thereof) any proceeds of Collateral held by the Senior Lien Collateral Agent in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct to be applied by the Cash Pay Second Lien Trustee or the Non-Cash Pay Second Lien Trustee to the applicable Second Lien Obligations in such order as specified in the relevant Second Lien Collateral Documents.
(b) In the event of any Insolvency Proceeding involving any Issuer or Guarantor, all Senior Lien Obligations shall first be Paid in Full before any payments or other distributions, whether in cash, securities or other property, shall be made to the Second Lien Claimholders on account of any Second Lien Obligations. Any amounts that would otherwise be paid to the Second Lien Claimholders but for the provisions of this Section 4.2(b) shall instead be paid to the Senior Lien Claimholders until Discharge of Senior Lien Obligations has occurred, and any amounts received by the Second Lien Claimholders in contravention of the provisions of this Section 4.2(b) shall be subject to the turnover provisions of Section 4.3.
Application of Proceeds and Payments. Anything in any Financing Document to the contrary notwithstanding, all cash and other payments received by an Agent pursuant to a Pledge Agreement shall be applied based on the mutual agreement of the Banks and, after the payment in full of all Obligations and, in the case of the Triarc Pledge Agreement, the termination of the Commitment, any surplus proceeds and Collateral will be distributed pursuant to the terms and conditions of the related Pledge Agreement.
Application of Proceeds and Payments. Any proceeds realized by BMO InvestorLine pursuant to the exercise of any remedy set forth in Section 11 and any repayments or reimbursements to BMO InvestorLine on account of any Obligations to BMO InvestorLine shall be applied as follows:
(a) firstly, to reduce the Indebtedness to BMO InvestorLine and, any interest thereon;
(b) secondly, against any other Obligations to BMO InvestorLine; and
(c) thirdly, to the Client unless otherwise required by applicable law. The Client shall remain liable for, and shall forthwith pay, without duplication, and subject always to Section 7, the balance of any Obligations to BMO InvestorLine, which remain outstanding after the application of such proceeds, together with interest thereon.
Application of Proceeds and Payments. Any payments received at any time by Lessor or by Lessee from any insurer under any policy of insurance (other than liability insurance) shall be applied in the manner specified in Sections 11(m), 11(n) or 11(o) hereof as applicable. Any payments received at any time by Lessor or Lessee with respect to a Casualty Occurrence will be applied as follows: (i) if such payments are received as a result of a Casualty Occurrence with respect to the Aircraft, such payment up to the amount of the Casualty Value shall be paid to Lessor, or if Lessee has already paid Lessor the Casualty Value, such payment shall be applied by Lessor to reimburse Lessee; or (ii) if such payments are received as a result of a Casualty Occurrence with respect to an Engine which is being replaced pursuant to Section 10(b), such payments shall be paid over to, or retained by, Lessee if Lessee shall have fully performed the terms of Section 10(b) hereof.
Application of Proceeds and Payments. So long as the Discharge of First Lien Obligations has not occurred, any Common Collateral or proceeds thereof received by the First Lien Agent in connection with the sale or other disposition of, or collection on, such Common Collateral upon the exercise of remedies, shall be applied by the First Lien Agent to the First Lien Obligations in such order, if any, as is specified in the relevant First Lien Documents, PROVIDED HOWEVER that notwithstanding the foregoing, amounts received by the First Lien Agent or any other First Lien Claimholder in respect of Obligations outstanding under any First Lien Document shall be deemed for all purposes of this Agreement, including determination of Discharge of First Lien Obligations, to be applied first to payment and satisfaction of all outstanding First Lien Obligations and thereafter to payment of Obligations thereunder, if any, not constituting First Lien Obligations. Upon the Discharge of the First Lien Obligations, the First Lien Agent shall deliver to the Second Lien Agent (except as may otherwise be required by applicable law or any court order) any proceeds of Common Collateral held by it in the same form as received, with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct, to be applied by the Second Lien Agent to the Second Lien Obligations in such order, if any, as is specified in the relevant Second Lien Collateral Documents.
Application of Proceeds and Payments. Notwithstanding anything contained herein, any Note or in any other Transaction Document to the contrary, all payments made by the Note Parties in respect of their respective obligations under the Note Documents (other than regularly scheduled payments of principal and interest made by the Company pursuant to Section 2 of each Note) and all net proceeds from the enforcement of the such obligations shall be applied (a) first, to that portion of such obligations constituting reasonable fees and expenses payable to the Administrative Agent pursuant to the Note Documents, (b) second, to the payment of that portion of such obligations constituting accrued and unpaid interest on the Notes, (c) third, to the payment of that portion of such obligations constituting unpaid principal of the Notes, and (d) last, the balance, if any, after all such obligations have been indefeasibly paid in full, to the applicable Note Party. All payments made by the Note Parties in respect of their respective obligations under the Note Documents (including, without limitation, payments of principal if prepaid or upon earlier acceleration) shall be paid proportionally among the Investors based upon the outstanding principal amounts of the Notes held by each Investor (other than regularly scheduled payments of principal and interest made by the Company pursuant to Section 2 of each Note and any payments made to the Administrative Agent on account of the items described in clause (a) above). No consideration (including any modification of any Transaction Document) shall be offered or paid to any Investor to amend or consent to a waiver or modification of any provision of the Transaction Documents unless the same consideration is also offered on a proportionate basis to the other Investors, based upon the then outstanding principal amounts of the Notes held by each Investor at such time.
Application of Proceeds and Payments. Notwithstanding that the PET Notes are secured by the Collateral (but subject to Section 5 below), any Collateral or proceeds thereof received by the PET Note Agent in connection with the sale or other disposition of, or collection on, such Collateral upon the exercise of remedies, shall be applied by PET Note Agent in a manner consistent with the treatment of the PET Note Debt and the Seller Notes Guaranty Obligations as pari passu.