Common use of Aircraft Sales Clause in Contracts

Aircraft Sales. The Administrative Agent shall cause the Operating Bank to deposit any and all proceeds received in respect of any Aircraft Sale by any ACS Group Member (including any loss proceeds and any other amounts under the relevant ACS Group Purchase Agreement), in each case in the Collections Account (other than in connection with any sale of all or substantially all of the assets of the ACS Ireland Group or ACS Bermuda Group, as applicable, in which case the Administrative Agent shall deposit any and all proceeds of any thereof (together with any Premium into the Repayment Account in connection with the repayment of the Loans or Guarantor Loans, as applicable), in each case as specified in a Written Notice of the Administrative Agent to the Facility Agent, the Collateral Agent and the Operating Bank. Any funds then on deposit in a Lessee Funded Account, the Security Deposit Account or the Maintenance Reserve Account related to the ACS Group Aircraft subject to such sale or other disposition shall be applied on a basis consistent with the terms of the Lease related to such ACS Group Aircraft, if any, or as otherwise provided by the relevant agreements related to such sale or other disposition. To the extent that any amount on deposit in a Lessee Funded Account, the Security Deposit Account or the Maintenance Reserve Account is retained by the ACS Group following such sale and application as provided in the preceding sentence, such amounts shall be deposited into the Collections Account.

Aircraft Sales. The Administrative Agent shall cause the Operating Bank to deposit any and all proceeds received in respect of any Aircraft Sale by any ACS Group Member (including any loss proceeds and any other amounts under the relevant ACS Group Purchase Agreement), in each case in the Collections Account (other than in connection with any sale of all or substantially all of the assets of the ACS Ireland Bermuda Group or ACS Bermuda Ireland Group, as applicable, in which case the Administrative Agent shall deposit any and all proceeds of any thereof (together with any Premium into the Repayment Account in connection with the repayment of the Loans or Guarantor Loans, as applicable), in each case as specified in a Written Notice of the Administrative Agent to the Facility Agent, the Collateral Agent and the Operating Bank. Any funds then on deposit in a Lessee Funded Account, the Security Deposit Account or the Maintenance Reserve Account related to the ACS Group Aircraft subject to such sale or other disposition shall be applied on a basis consistent with the terms of the Lease related to such ACS Group Aircraft, if any, or as otherwise provided by the relevant agreements related to such sale or other disposition. To the extent that any amount on deposit in a Lessee Funded Account, the Security Deposit Account or the Maintenance Reserve Account is retained by the ACS Group following such sale and application as provided in the preceding sentence, such amounts shall be deposited into the Collections Account.