Common use of Aircraft Conversion Account Clause in Contracts

Aircraft Conversion Account. As and to the extent provided in Section 3.04(h), Section 3.06(g) and Section 5.02(i) hereof, 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) from the Available Holder Amount (or a portion thereof), or (ii) out of contributions by the Holders of the Class E Securities or Shareholders pursuant to Section 3.12 or the proceeds of additional Class E 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 or upon a determination by the Borrowers that it no longer intends to proceed with the contemplated Aircraft Conversion, any remaining amounts in the Aircraft Conversion Account relating to the Aircraft that shall have undergone such Aircraft Conversion or contemplated Aircraft Conversion shall be promptly transferred (A) in the case of an Aircraft Conversion, to the Securities Account for the Holders of the Class E Securities, and (B) in the case of an Guarantor Aircraft Conversion, to the Shareholders Account to be available, subject to corporate formalities, to fund a dividend or distribution to the Shareholders.