Common use of Aircraft Conversion Account Clause in Contracts

Aircraft Conversion Account. As and to the extent provided in Section 3.04(g) and Section 5.02(i) hereof (or in the terms of any indenture supplement hereto or indenture supplement to the Guarantor Indenture or a Board Resolution or Guarantor Board Resolution with respect to the related ACS Group Additional Securities), an amount equal to any expected ACS Group Conversion Payment (or in the case of a Conversion Election, a portion thereof) will be transferred from the Collections Account (i) in the event of a Conversion Election for any Payment Date, in an amount equal to the sum of (A) the Available Minimum Principal Amount (or a portion thereof) to fund the Allocable Principal Conversion Amount and (B) the Available Holder Amount (or a portion thereof) to fund the Allocable Equity Conversion Amount for such Payment Date, or (ii) out of the proceeds of the ACS Group Additional Securities, in each case to the Aircraft Conversion Account. The amount so deposited will be held in the Aircraft Conversion Account and invested in Permitted Account Investments until applied as provided in Section 3.04 or 3.08 hereof and upon payment of all ACS Group Conversion Payments required for such Aircraft Conversion, any remaining amounts in the Aircraft Conversion Account shall be promptly transferred to the Collections Account. The Administrative Agent shall notify the Security Trustee and the Cash Manager of the satisfaction or waiver (specifying which) of all conditions for the payment of any ACS Group Conversion Payment, and no amounts may be withdrawn or transferred from the Aircraft Conversion Account until receipt of such notice as to such ACS Group Conversion Payment.

Aircraft Conversion Account. As and to the extent provided in Section 3.04(g) 3.04 and Section 5.02(i) hereof (or in the terms of any indenture supplement supplemental hereto or indenture supplement to the Guarantor Indenture or a Board Resolution or Guarantor Board Resolution with respect to the related ACS Group Additional SecuritiesNotes), an amount equal to any expected ACS Group Conversion Payment (or in the case of a Conversion Election, a portion thereof) will be transferred from the Collections Account (i) in the event of a Conversion Election for any Payment Date, in an amount equal to the sum of (A) the Available Minimum Principal Amount (or a portion thereof) to fund all or a portion of the Allocable Principal Conversion Amount and (B) the Available Holder Amount (or a portion thereof) ), together with Contribution Amounts, if any, to fund the Allocable Equity Class A Shareholder Conversion Amount for such Payment Date, or (ii) out of the proceeds of the ACS Group Additional SecuritiesNotes, in each case to the Aircraft Conversion Account. The Available Holder Amounts shall constitute property of the Issuer until applied towards the payment of the applicable Conversion Amount. The amount so deposited will be held in the Aircraft Conversion Account and invested in Permitted Account Investments until applied as provided in Section 3.04 or 3.08 hereof 3.09 and upon payment of all ACS Group Conversion Payments required for such Aircraft Conversion, any remaining amounts in the Aircraft Conversion Account shall be promptly transferred to the Collections Account. The Administrative Agent Issuer shall notify the Security Trustee and the Cash Manager of the satisfaction or waiver (specifying which) of all conditions for the payment of any ACS Group Conversion Payment, and no amounts may be withdrawn or transferred from the Aircraft Conversion Account until receipt of such notice as to such ACS Group Conversion Payment. For the avoidance of doubt, Class A Shareholders may fund the entire amount of a Conversion Payment or some or all of the Class A Shareholder Conversion Amount with respect to an Aircraft Conversion. In the event of such funding by the Class A Shareholders, upon payment of all Conversion Payments required for such Aircraft Conversion, any remaining amounts in the Aircraft Conversion Account for such Aircraft Conversion may be transferred to an Aircraft Conversion Account with respect to another Aircraft Conversion.