Common use of Basic Rent Distribution Clause in Contracts

Basic Rent Distribution. Except as otherwise provided ----------------------- in Section 3.03 or 3.05, each installment of Basic Rent, as well as any installment of interest on overdue installments of Basic Rent and any other moneys paid over by the Lessee or the Owner Trustee to the Indenture Trustee for such purpose, shall be distributed by the Indenture Trustee as promptly as possible (it being understood that any payments of Basic Rent received by the Indenture Trustee on a timely basis and in accordance with the provisions of Section 3.6 of the Lease shall be distributed on the date received in the funds so received) in the following order of priority: first, so much of such ----- installment as shall be required for the purpose shall be distributed and paid to the holders of the Equipment Notes to pay in full the aggregate amount of the payment or payments of principal, premium, if any, and interest (as well as any interest on overdue principal or interest) then due, such distribution to be made ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due with respect to each such Equipment Note bears to the aggregate amount of payments then due under all such Equipment Notes; and second, the balance, if any, of such installment remaining thereafter ------ shall be distributed to the Owner Trustee for distribution in accordance with the terms of the Trust Agreement. The portion of each such installment distributed to a holder of an Equipment Note shall be applied by such holder in payment of such Equipment Note in accordance with the terms of Section 2.05.

Basic Rent Distribution. Except as otherwise provided ----------------------- in Section 3.03 or 3.053.03, each installment of Interim Interest and Basic Rent, Rent as well as any installment of interest on overdue installments of Basic Rent Rent, and any other moneys paid over by the Lessee or the Owner Trustee to the Indenture Trustee for such purpose, shall be distributed by the Indenture Trustee as promptly as possible (it being understood that any payments of Interim Interest and Basic Rent received by the Indenture Trustee on a timely basis and in accordance with the provisions of Section 3.6 of the Lease shall be distributed on the date received in the funds so received) in the following order of priority: first, so much of such ----- installment as shall be required for the purpose shall be distributed and paid to the holders of the Equipment Notes of such series to pay in full the aggregate amount of the payment or payments of principal, premiumMake-Whole Amount, if any, and interest (as well as any interest on overdue principal or interest) then due, such distribution to be made ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due with respect to each such Equipment Note bears to the aggregate amount of payments then due under all such Equipment Notes; and second, the balance, if any, of such installment remaining thereafter ------ shall be deemed released from the Lien of this Indenture and shall be distributed to the Owner Trustee for distribution in accordance with the terms of the Trust Agreement. The portion of each such installment distributed to a holder of an Equipment Note shall be applied by such holder in payment of such Equipment Note in accordance with the terms of Section 2.05.

Basic Rent Distribution. Except as otherwise provided ----------------------- in Section 3.03 or 3.053.03, each installment of Interim Interest and Basic Rent, Rent as well as any installment of interest on overdue installments of Basic Rent Rent, and any other moneys paid over by the Lessee or the Owner Trustee to the Indenture Trustee for such purpose, shall be distributed by the Indenture Trustee as promptly as possible (it being understood that any payments of Interim Interest and Basic Rent received by the Indenture Trustee on a timely basis and in accordance with the provisions of Section 3.6 of the Lease shall be distributed on the date received in the funds so received) in the following order of priority: first, so much of such ----- installment as shall be required for the purpose shall be distributed and paid to the holders of the Equipment Notes of such series to pay in full the aggregate amount of the payment or payments of principal, premiumMake- Whole Amount, if any, and interest (as well as any interest on overdue principal or interest) then due, such distribution to be made ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due with respect to each such Equipment Note bears to the aggregate amount of payments then due under all such Equipment Notes; and second, the balance, if any, of such installment remaining thereafter ------ shall be distributed to the Owner Trustee for distribution in accordance with the terms of the Trust Agreement. The portion of each such installment distributed to a holder of an Equipment Note shall be applied by such holder in payment of such Equipment Note in accordance with the terms of Section 2.05.