Amounts Due Under Lease. Anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders and the Lenders that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from Lessee under the Lease shall be equal to the aggregate payments due and payable as Interest on the Loans and Yield on the Certificate Amounts on each Payment Date; (ii) if Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, then the Loans, the Certificate Amounts, all Interest, Yield and Fees and all other obligations of Lessee owing to Lessor and the Participants shall be paid in full by Lessee; (iii) if Lessee properly elects the Sale Option with respect to the Leased Property, and subject to ARTICLES XX and XXI of the Lease, Lessee shall only be required to pay to Administrative Agent the proceeds of the sale of the Leased Property, the Sale Option Recourse Amount with respect to the Leased Property and any amounts due pursuant to SECTION 20.2 of the Lease (which aggregate amounts may be less than the Lease Balance), together with all other amounts due and payable by Lessee; and (iv) upon an Event of Default resulting in an acceleration of Lessee's obligation to purchase the Leased Property under the Lease at any time, the amounts then due and payable by Lessee under the Lease shall include all amounts necessary to pay in full the Lease Balance, PLUS, to the extent not included in the Lease Balance, all other amounts then due from Lessee to the Participants under the Operative Documents.
Amounts Due Under Lease. With respect to each Leased Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee and the Funding Parties that: (i) the amount and timing of Basic Rent due and payable from time to time from the Lessee under the Lease shall be equal to the aggregate payments due and payable with respect to interest on, and principal of, the Loans in respect of such Leased Property and Yield on, and principal of, the Lessor's Invested Amounts, if any, in respect of such Leased Property on each Payment Date; (ii) if the Lessee elects the Purchase Option or the Partial Purchase Option with respect to a Leased Property or becomes obligated to purchase such Leased Property under the Lease, the Funded Amounts in respect of such Leased Property, all interest and Yield thereon and all other obligations of the Lessee owing to the Funding Parties in respect of the Leased Property shall be paid in full by the Lessee, (iii) if the Lessee properly elects the Remarketing Option, the principal amount of, and accrued interest on, the A Loans and the A Percentage of the Lessor's Invested Amounts in respect of such Leased Property, if any, will be paid out of the Recourse Deficiency Amount, and the Lessee shall only be required to pay to the Lenders in respect of the principal amount of the B Loans in respect of such Leased Property and to the Lessor in respect of the B Percentage of the Lessor's Invested Amounts in respect of such Leased Property, if any, the proceeds of the sale of such Leased Property; and (iv) upon an Event of Default resulting in an acceleration of the Lessee's obligation to purchase such Leased Property under the Lease, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Loans in respect of such Leased Property, and accrued interest thereon, the Lessor's Invested Amounts in respect of such Leased Property, if any, and accrued Yield thereon and all other obligations of the Lessee owing to the Funding Parties in respect of such Leased Property.
Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee, the Lessor, the Participants and the Agent that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessee under the Lease shall be equal to the aggregate payments due to the Participants in respect of their Participation Interests on each Payment Date; (ii) if the Lessee elects the Purchase Option or becomes obligated to purchase the Property under the Lease, the Participation Interests, all fees and all of the interest on overdue amounts thereon and all other obligations of the Lessee owing to the Lessor, the Participants and the Agent shall be paid in full by the Lessee; (iii) if the Lessee properly elects the Remarketing Option, the Lessee shall only be required to pay to the Lessor the proceeds of the sale of the Property, the Residual Value Guarantee Amount and any amounts due pursuant to Section 13 of this Participation Agreement and Section
Amounts Due Under Lease. (a) Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee, Lessor, each Investor, SPC, the Banks and Agent Bank that the amount and timing of installments of Basic Rent due and payable from time to time from Lessee under the Lease shall be equal to the aggregate payments due and payable on each Loan Payment Date and Certificate Payment Date, respectively, with respect to interest and Facility Fees on the Backup Facility Commitments and Investor Yield on the Investor Contributions then due.
(b) Notwithstanding anything to the contrary contained in the Operative Agreements, if Lessee makes a payment of Rent to the Funding Account or Commercial Paper Account as required under the Operative Agreements, and the amount of and the timing of such payment is based on or defined by a payment due by another party pursuant to the Operative Agreements, payment by Lessee of such amount to such account shall be deemed to also constitute payment of such amount by such other party at the time such amount is received in the Funding Account or Commercial Paper Account, as the case may be. By way of illustration, but not by way of limitation, if interest in the amount of $1,000,000 owing by the SPC to the Agent Bank (for the account of the Banks) with respect to Facility Loans is due on June 1, 2001, the same amount is due on such date by the Lessor to the SPC with respect to the SPC Loan, and by Lessee to Lessor as Basic Rent, Lessee pays such amount by wire transfer to the Funding Account and such amount is received in such account on June 1, 2001 within the time period required in the Operative Agreements, then such $1,000,000 shall be deemed to have been paid in a timely manner (i) by Lessee with respect to Basic Rent, (ii) by Lessor with respect to the SPC Loan, and (iii) by the SPC with respect to the Facility Loans.
Amounts Due Under Lease. 15 SECTION 6
Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee and the Lessor that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessee under the Lease shall be equal to the aggregate payments due and payable with respect to Yield on the Lessor's Invested Amount on each Payment Date; (ii) if the Lessee elects the Purchase Option or becomes obligated to purchase the Property under the Lease, the Lessor's Invested Amounts, all Yield thereon and all other obligations of the Lessee owing to the Lessor shall be paid in full by the Lessee, (iii) if the Lessee properly elects the Remarketing Option, the Lessee shall pay the amounts due pursuant to Section 14.6 of the Lease; and (iv) upon an Event of Default resulting in an acceleration of the Lessee's obligation to purchase the Property under the Lease, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Lessor's Invested Amount and accrued Yield thereon and all other obligations of the Lessee owing to the Lessor.
Amounts Due Under Lease. Each Credit Party, the Lessor, the Agent, each Credit Note Purchaser and each Mortgage Lender intends that, subject to the provisions of the Operative Agreements: (i) the amount and timing of installments of Basic Rent due and payable from time to time under the Lease shall be equal to the aggregate payments due and payable as scheduled interest on the Credit Notes and the Mortgage Loans and the scheduled Lessor Yield on the Lessor Advance on each Scheduled Interest Payment Date; (ii) if the Lessee elects the Purchase Option or becomes obligated or otherwise elects to purchase the Property under the Lease, then the Credit Notes, the Mortgage Notes, the Lessor Advance, all accrued and unpaid interest and Lessor Yield thereon, and all other obligations of the Credit Parties owing to the Primary Financing Parties under the Operative Agreements shall be paid by the Lessee with a payment of Supplemental Rent in an amount equal to the Termination Value for the Property; and (iii) if the Lessee properly elects the Sale Option with respect to the Property, the Lessee shall be required to pay to the Agent the Maximum Residual Guarantee Amount on the Expiration Date, together with all other amounts then due and payable as Supplemental Rent in respect of the Lease.
Amounts Due Under Lease. 6 SECTION 2.5 Nature of Transaction ................................ 6 SECTION 3
Amounts Due Under Lease. With respect to the Leased Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the parties hereto that: (i) on each Scheduled Payment Date, with the exception of the Accreted Amount, the amount of Basic Rent due and payable from time to time from Lessee under the Lease shall be equal to the interest accrued and unpaid on the outstanding Loans and the Return accrued and unpaid on the Capital Contribution; (ii) if, pursuant to the Lease and the Partnership Agreement, the Limited Partner elects to exercise the Purchase Option and causes Lessor to notify Administrative Agent of its intent to pay the Loan on the Lease Termination Date, the amount of payments from the Limited Partner and Lessee shall equal the Lease Balance; (iii) if Lessee is subject to the Remarketing Obligation under the Lease, (x) in the case of a sale to a third party where the Net Sales Proceeds equal or exceed the Maximum Lessor Risk Amount, the Deficiency plus the Net Sales Proceeds shall equal the Lease Balance, (y) in the case of a failure of a sale to a third party to be consummated under Section 14.1 where all of Lessee Disposition Conditions have been satisfied, the Lease Termination Amount together with the Maximum Lessor Risk Amount, shall equal the Lease Balance; and (iv) upon a Lease Event of Default resulting in an acceleration of Lessee's obligation to purchase the Leased Property under Section 13.1 of the Lease, the amounts then due and payable by Lessee under the Lease shall equal the Lease Balance.
Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee, the Lessor, the Owner Participants and the Lenders that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessee under the Lease shall be equal to the aggregate payments due and payable as interest on the Loans and Equity Return on the Equity Investment on each Payment Date; (ii) if the Lessee elects or becomes obligated to purchase the Equipment under the Lease, then the Loans, the Equity Investment, all accrued and unpaid interest, Equity Return and fees thereon and all other obligations of the Lessee owing to the Owner Participants and the Lenders shall be due and payable in full by the Lessee as provided in the or the Lease; and (iii) if the Lessee properly elects to return all of the Equipment under Article XVII of the Lease, the Lessee shall only be required to pay to the Lessor the proceeds of the sale of the Equipment, the Maximum Lessee Risk Amount and any amounts due pursuant to Articles VII and VIII hereof and Article XVII of the Lease. [Remainder of page intentionally left blank; signature pages follow]
