Common use of Aircraft Sales Clause in Contracts

Aircraft Sales. The Cash Manager 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 Cash Manager shall deposit any and all proceeds of any thereof into the Defeasance/Redemption Account in connection with the redemption of each subclass of the Securities or Guarantor Securities, as applicable), in each case as specified in a Written Notice of the Cash Manager to the Trustee, the Security Trustee and the Operating Bank (which Written Notice of the Cash Manager shall, as a condition to any such deposit, be accompanied by a Written Notice of the Administrative Agent setting forth the amount of such deposit). Any funds then on deposit in a Lessee Funded Account or the Security Deposit 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.

Aircraft Sales. The Cash Manager 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 Cash Manager shall deposit any and all proceeds of any thereof into the Defeasance/Redemption Account in connection with the redemption of each subclass of the Securities or Guarantor Securities, as applicable), in each case as specified in a Written Notice of the Cash Manager to the Trustee, the Security Trustee and the Operating Bank (which Written Notice of the Cash Manager shall, as a condition to any such deposit, be accompanied by a Written Notice of the Administrative Agent setting forth the amount of such deposit). Any funds then on deposit in a Lessee Funded Account or the Security Deposit 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.