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.
Appears in 2 contracts
Samples: Participation Agreement (Teletech Holdings Inc), Participation Agreement (Teletech Holdings Inc)
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 Lessee and the Lenders Participants 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 Lessor Amount due on each Payment Date; (ii) if the Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease)Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, then the Loans, the Certificate AmountsLessor Amount, all Interestaccrued and unpaid Interest and Yield thereon, Yield and any Fees and all other obligations of the Lessee owing to Lessor and the Participants pursuant to the Operative Documents shall be paid in full by the Lessee; (iii) if the Lessee properly elects the Sale Option with respect to the Leased Property, Property and subject to ARTICLES Articles XX and XXI of the Lease, the Lessee shall only be required to pay to the 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 Section 20.2 of the Lease (which aggregate amounts may be less than the Lease Balance)Lease, together with all other amounts due and payable by Lesseeas Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d); and (iv) upon an Event of Default resulting in an acceleration of the Lessee's obligation ’s obligations to purchase the Leased Property under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease on a recourse basis shall include all amounts necessary to pay in full the Lease Balance, PLUS, to the extent not included in the Lease Balance, Balance and all other amounts then due from owing by Lessee to the Administrative Agent, if any, and/or the Participants under the Operative DocumentsDocuments (including, but without duplication, accrued and unpaid Rent).
Appears in 2 contracts
Samples: Participation Agreement (Regeneron Pharmaceuticals Inc), Participation Agreement (Regeneron Pharmaceuticals Inc)
Amounts Due Under Lease. Anything With respect to the Leased ----------------------- Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessee and the Lenders Funding Parties that: (i) subject to clauses (ii) and (iii) below, 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 with respect to interest on the Loans and Yield on the Certificate Lessor's Invested Amounts on each Payment Date; (ii) if the 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 such Leased Property under the Lease, then the Loans, the Certificate Funded Amounts, all Interest, interest and Yield and Fees thereon and all other obligations of the Lessee owing to Lessor and the Participants Funding Parties, shall be paid in full by the Lessee; , (iii) if the Lessee properly elects the Sale Option with Remarketing Option, the principal amount of, and accrued interest on, the A Loans in respect to of the Leased PropertyProperty will be paid out of the Recourse Deficiency Amount, and subject to ARTICLES XX and XXI of the Lease, Lessee shall only be required to pay to Administrative Agent the Lenders in respect of the principal amount of the B Loans and to the Lessor in respect of the Lessor's Invested Amounts, the proceeds of the sale of the Leased Property, the Sale Option Recourse Amount Property in accordance with respect to the Leased Property and any amounts due pursuant to SECTION 20.2 Section 14.6 of the Lease (which aggregate amounts may be less than the Lease Balance), together with all other amounts due and payable by LesseeLease; and (iv) upon ------------ an Event of Default resulting in an acceleration of the Lessee's obligation to purchase the Leased Property under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans, PLUSand accrued interest thereon, the Lessor's Invested Amounts and accrued Yield thereon and all other obligations of the Lessee owing to the extent not included in the Lease Balance, all other amounts then due from Lessee Funding Parties pursuant to the Participants under the Operative Documents.
Appears in 2 contracts
Samples: Master Agreement (Jones Financial Companies Lp LLP), Master Agreement (Jones Financial Companies Lp LLP)
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 Lessee and the Lenders Participants 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 Yield on the Loans Rent Assignment Contributions and Yield on the Certificate Amounts Lessor Amount due 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)Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, then the Loans, the Certificate AmountsLease Balance, all Interestaccrued and unpaid Yield thereon, Yield and any 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, Property and subject to ARTICLES Articles XX and XXI of the Lease, Lessee shall only be required to pay to the 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 Section 20.2 of the Lease (which aggregate amounts may be less than the Lease Balanceunpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable by Lesseeas Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(i); and (iv) upon an Event of Default resulting in an acceleration of Lessee's obligation ’s obligations to purchase the Leased Property under the Lease at any timeLease, the amounts then due and payable by Lessee under the Lease on a recourse basis 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.
Appears in 2 contracts
Samples: Participation Agreement (Norfolk Southern Corp), Participation Agreement
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 Lessee and the Lenders Participants 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 Yield on the Loans Rent Assignment Contribution Amount and Yield on the Certificate Amounts Lessor Amount due on each Payment Date; (ii) if the Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease)Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, then the LoansLease Balance (including, the Certificate Amountswithout duplication, all Interest, accrued and unpaid Yield thereon) and any Fees and all other obligations of the Lessee owing to Lessor and the Participants pursuant to the Operative Documents shall be paid in full by the Lessee; (iii) if the Lessee properly elects the Sale Option with respect to the Leased Property, Property and subject to ARTICLES Articles XX and XXI of the Lease, the Lessee shall only be required to pay to the 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 Section 20.2 of the Lease (which aggregate amounts may be less than the Lease Balance)Lease, together with all other amounts due and payable by Lesseeas Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d); and (iv) upon an Event of Default resulting in an acceleration of the Lessee's obligation ’s obligations to purchase the Leased Property under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease on a recourse basis shall include all amounts necessary to pay in full the Lease Balance, PLUS, to the extent not included in the Lease Balance, Balance and all other amounts then due from owing by Lessee to the Administrative Agent, if any, and/or the Participants under the Operative DocumentsDocuments (including, but without duplication, accrued and unpaid Rent).
Appears in 2 contracts
Samples: Participation Agreement (Regeneron Pharmaceuticals, Inc.), Participation Agreement (Regeneron Pharmaceuticals, Inc.)
Amounts Due Under Lease. Anything Lessor hereby directs Lessee to, and Lessee agrees to, pay all Basic Rent, Leased Property Balances, Lease Balance, Recourse Deficiency Amount and all other amounts due to the Lessor under the Lease and the Construction Agency Agreement to the Agent for distribution pursuant to Section 3 of the Loan Agreement. With respect to each Leased Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessee and the Lenders Funding Parties 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 with respect to interest on, and principal of, the Loans in respect of such Leased Property and Yield on on, and principal of, the Certificate Amounts Lessor's Invested Amounts, if any, in respect of such Leased Property on each Payment Date; (ii) if the Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option or the Partial Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, then Lease or the LoansConstruction Agency Agreement, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of the Lessee owing to Lessor and the Participants Funding Parties in respect of the Leased Property shall be paid in full by the Lessee; , (iii) if the Lessee properly elects the Sale Option with Remarketing Option, the principal amount of, and accrued interest on, the A Loans in respect to the of such Leased Property, and subject to ARTICLES XX and XXI will be paid out of the LeaseRecourse Deficiency Amount, and the Lessee shall only be required to pay to Administrative Agent 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 Lessor's Invested Amounts in respect of such Leased Property, the proceeds of the sale of the such 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 the Lessee's obligation to purchase the such Leased Property under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans in respect of such Leased Property, PLUSand accrued interest thereon, the Lessor's Invested Amounts in respect of such Leased Property and accrued Yield thereon and all other obligations of the Lessee owing to the extent not included Funding Parties in the Lease Balance, all other amounts then due from Lessee to the Participants under the Operative Documentsrespect of such Leased Property.
Appears in 2 contracts
Samples: Master Agreement (Ruby Tuesday Inc), Master Agreement (Ruby Tuesday Inc)
Amounts Due Under Lease. Anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of the Lessee, Guarantor, Lessor, the Certificate Holders Lessor 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 Lessor Amount due on each Payment Date; (ii) if the Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease)Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Subject Property under the Lease, then the Loans, the Certificate AmountsLessor Amount, all Interestaccrued and unpaid Interest and Yield thereon, Yield and any Fees and all other obligations of the Lessee owing to the Lessor and the Participants shall be paid in full by the Lessee; (iii) if the Lessee properly elects the Sale Option with respect to the Leased Property, Subject Property and subject to ARTICLES Articles XX and XXI of the Lease, the Lessee shall only be required to pay to Administrative the Collateral Agent the proceeds of the sale of the Leased Subject Property, the Sale Option Recourse Amount with respect to the Leased Property and any amounts due pursuant to SECTION Section 20.2 of the Lease (which aggregate amounts may be less than the Lease Balanceaggregate amount of the unpaid principal of the Notes and Lessor Amount), together with all other amounts due and payable by Lesseeunder Article XIII; and (iv) subject to the limitation in Section 16.5 of the Lease, upon an Event of Default resulting in an acceleration of the Lessee's ’s obligation to purchase the Leased Subject Property under the Lease at any timeLease, the amounts then due and payable by the 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, plus all other amounts then due from the Lessee to the Participants under the Operative Documents.
Appears in 2 contracts
Samples: Participation Agreement (Silicon Laboratories Inc), Participation Agreement (Silicon Laboratories Inc)
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 Lessee and the Lenders Funding Parties 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 with respect to interest on, and principal of, the Loans in respect of the Leased Property and Yield on on, and principal of, the Certificate Amounts Lessor's Invested Amounts, if any, in respect of the Leased Property on each Payment Date; (ii) if the Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option with respect to the Leased Property or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, then the Loans, Funded Amounts in respect of the Certificate AmountsLeased Property, all Interest, interest and Yield and Fees thereon and all other obligations of the Lessee owing to Lessor and the Participants Funding Parties in respect of the Leased Property shall be paid in full by the Lessee; (iii) if the Lessee properly elects the Sale Option with respect to Remarketing Option, the Leased Propertyprincipal amount of, and subject to ARTICLES XX accrued interest on, the A Loans and XXI the A Percentage of the LeaseLessor's Invested Amounts, if any, will be paid out of the Recourse Deficiency Amount, and the Lessee shall only be required to pay to Administrative Agent the Lenders in respect of the principal amount of the B Loans and to the Lessor in respect of the B Percentage of the Lessor's Invested Amounts, if any, 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 the Lessee's obligation to purchase the Leased Property under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans in respect of the Leased Property, PLUSand accrued interest thereon, the Lessor's Invested Amounts in respect of the Leased Property, if any, and accrued Yield thereon and all other obligations of the Lessee owing to the extent not included Funding Parties in respect of the Lease Balance, all other amounts then due from Lessee to the Participants under the Operative DocumentsLeased Property.
Appears in 1 contract
Samples: Assignment and Assumption of Lease (Fidelity National Information Services, Inc.)
Amounts Due Under Lease. Anything With respect to each Leased ----------------------- Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessees and the Lenders Funding Parties that: (i) subject to clauses (ii) and (iii) below, the amount and timing of installments of Basic Rent due and ------- ---- ----- payable from time to time from the related Lessee under the Lease shall be equal to the aggregate payments due and payable as Interest with respect to interest on the Loans in respect of such Leased Property and Yield on the Certificate Lessor's Invested Amounts in respect of such Leased Property on each Payment Date; (ii) if the related Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, then the Loans, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of the related Lessee owing to Lessor and the Participants Funding Parties in respect of such Leased Property shall be paid in full by Lessee; , (iii) if Lessee the Lessees properly elects elect the Sale Option with Remarketing Option, the principal amount of, and accrued interest on, the A Loans in respect to of the Leased PropertyProperties, will be paid out of the Recourse Deficiency Amount, and subject to ARTICLES XX and XXI of the Lease, Lessee Lessees shall only be required to pay to Administrative Agent the Lenders in respect of the principal amount of the B Loans and to the Lessor in respect of the Lessor's Invested Amounts, the proceeds of the sale of the Leased Property, the Sale Option Recourse Amount Properties in accordance with respect to the Leased Property and any amounts due pursuant to SECTION 20.2 Section 14.6 of the Lease (which aggregate amounts may be less than the Lease Balance), together with all other amounts due and payable by LesseeLease; and (iv) upon an Event of Default resulting in an acceleration of Lessee's the Lessees' obligation to purchase the Leased Property Properties under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans, PLUSand accrued interest thereon, the Lessor's Invested Amounts and accrued Yield thereon and all other obligations of the Lessees owing to the extent not included in the Lease Balance, all other amounts then due from Lessee Funding Parties pursuant to the Participants under the Operative Documents.
Appears in 1 contract
Samples: Master Agreement (Rowe Companies)
Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessees and the Lenders Funding Parties that: (i) subject to clauses (ii) and (iii) below, the amount and timing of installments of Basic Rent due and payable from time to time from the related Lessee under the Lease shall be equal to the aggregate payments due and payable as Interest with respect to interest on the Loans in respect of such Leased Property and Yield on the Certificate Lessor’s Invested Amounts in respect of such Leased Property on each Payment Date; (ii) if a Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option with respect to any Leased Property or becomes obligated or otherwise elects to purchase the any Leased Property under the Lease, then the Loans, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of Lessee the Lessees owing to Lessor and the Participants Funding Parties with respect to such Leased Property shall be paid in full by the related Lessee; , (iii) if a Lessee properly elects the Sale Remarketing Option with respect to any Leased Property, (A) such Lessee will only be required to pay the Recourse Deficiency Amount with respect to such Leased Property and the other amounts required to be paid pursuant to Section 14.6 of the Lease with respect to such Leased Property, which amounts shall be used to pay the principal of the A Loans with respect to such Leased Property, and subject to ARTICLES XX and XXI of the Lease, (B) such Lessee shall only be required to pay to Administrative Agent the Lenders the principal amount of the B Loans with respect to such Leased Property and to the Lessor the Lessor’s Invested Amounts with respect to such Leased Property, to the extent of the proceeds of the sale of the Leased Property, the Sale Option Recourse Amount with respect to the related Leased Property and any amounts due pursuant to SECTION 20.2 in accordance with Section 14.6 of the Lease (which aggregate amounts may be less than the Lease Balance), together with all other amounts due and payable by LesseeLease; and (iv) upon an Event of Default resulting in an acceleration of Lessee's the Lessees’ obligation to purchase the Leased Property Properties under the Lease at any timeLease, the amounts then due and payable by Lessee the Lessees under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans, PLUSand accrued interest thereon, the Lessor’s Invested Amounts and accrued Yield thereon and all other obligations of the Lessees owing to the extent not included in Agent and the Lease Balance, all other amounts then due from Lessee Funding Parties pursuant to the Participants under the Operative Documents.
Appears in 1 contract
Samples: Master Agreement (Concord Efs Inc)
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 Lessee and the Lenders Participants 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 (A) Accrual Rent on the Loans and Yield on the Certificate Amounts Lease Balance due on each Payment Date and (B) Capital Rent due on each Payment Date that occurs after the Base Term Commencement Date; (ii) if Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease)Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, then the Loans, the Certificate AmountsLease Balance, all Interestaccrued and unpaid Yield thereon, Yield and any Fees and all other obligations of Lessee owing to Lessor and the Participants shall be paid in full by the Lessee; (iii) if Lessee properly elects the Sale Option with respect to the Leased Property, Property and subject to ARTICLES Articles XX and XXI of the Lease, Lessee shall only be required to pay to the 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 Section 20.2 of the Lease (which aggregate amounts may be less than the Lease Balance)Lease, together with all other amounts due and payable by Lesseeas Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d); and (iv) upon an Event of Default resulting in an acceleration of the Lessee's obligation ’s obligations to purchase the Leased Property under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease or the Construction Agency Agreement on a recourse basis 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.
Appears in 1 contract
Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessees and the Lenders Funding Parties that: (i) subject to clauses (ii) and (iii) below, the amount and timing of installments of Basic Rent due and payable from time to time from the related Lessee under the Lease shall be equal to the aggregate payments due and payable as Interest with respect to interest on the Loans in respect of such Leased Property and Yield on the Certificate Lessor's Invested Amounts in respect of such Leased Property on each Payment Date; (ii) if the related Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, then the Loans, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of the related Lessee owing to Lessor and the Participants Funding Parties in respect of such Leased Property shall be paid in full by Lessee; such Lessee prior to or simultaneously with the closing of the purchase which is the subject of such Purchase Option, (iii) if Lessee the Lessees properly elects elect the Sale Option with respect Remarketing Option, the Lessees will only be required to pay the Leased Property, Recourse Deficiency Amount and subject the other amounts required to ARTICLES XX and XXI be paid pursuant to Section 14.6 of the Lease, Lessee which amounts shall be used to pay the principal of the A Loans, and the Lessees shall only be required to pay to Administrative Agent the Lenders the principal amount of the B Loans and to the Lessor the Lessor's Invested Amounts, to the extent of the proceeds of the sale of the Leased Property, the Sale Option Recourse Amount Properties in accordance with respect to the Leased Property and any amounts due pursuant to SECTION 20.2 Section 14.6 of the Lease (which aggregate amounts may be less than the Lease Balance), together with all other amounts due and payable by LesseeLease; and (iv) upon an Event of Default resulting in an acceleration of Lessee's the Lessees' obligation to purchase the Leased Property Properties under the Lease at any timeLease, the amounts then due and payable by Lessee the Lessees under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans, PLUSand accrued interest thereon, to the extent not included in the Lease Balance, all other amounts then due from Lessee to the Participants under the Operative Documents.Lessor's Invested Amounts and accrued Yield thereon
Appears in 1 contract
Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessees and the Lenders Funding Parties that: (i) subject to clauses (ii) and (iii) below, the amount and timing of installments of Basic Rent due and payable from time to time from the related Lessee under the Lease shall be equal to the aggregate payments due and payable as Interest with respect to interest on the Loans in respect of such Leased Property and Yield on the Certificate Lessor's Invested Amounts in respect of such Leased Property on each Payment Date; (ii) if the related Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, then the Loans, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of the related Lessee owing to Lessor and the Participants Funding Parties in respect of such Leased Property shall be paid in full by such Lessee; , (iii) if Lessee the Lessees properly elects elect the Sale Option with respect Remarketing Option, the Lessees will only be required to pay the Leased Property, Recourse Deficiency Amount and subject the other amounts required to ARTICLES XX and XXI be paid pursuant to Section 14.6 of the Lease, Lessee which amounts shall be used to pay the principal of the A Loans, and the Lessees shall only be required to pay to Administrative Agent the Lenders the principal amount of the B Loans and to the Lessor the Lessor's Invested Amounts, to the extent of the proceeds of the sale of the Leased Property, the Sale Option Recourse Amount Properties in accordance with respect to the Leased Property and any amounts due pursuant to SECTION 20.2 Section 14.6 of the Lease (which aggregate amounts may be less than the Lease Balance), together with all other amounts due and payable by LesseeLease; and (iv) upon an Event of Default resulting in an acceleration of Lessee's the Lessees' obligation to purchase the Leased Property Properties under the Lease at any timeLease, the amounts then due and payable by Lessee the Lessees under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans, PLUSand accrued interest thereon, the Lessor's Invested Amounts and accrued Yield thereon and all other obligations of the Lessees owing to the extent not included in the Lease Balance, all other amounts then due from Lessee Funding Parties pursuant to the Participants under the Operative Documents.
Appears in 1 contract
Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessee and the Lenders Funding Parties 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 with respect to interest on, and principal of, the Loans in respect of such Leased Property and Yield on on, and principal of, the Certificate Amounts Lessor's Invested Amounts, if any, in respect of such Leased Property on each Payment Date; (ii) if the Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option or the Partial Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, then the Loans, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of the Lessee owing to Lessor and the Participants Funding Parties in respect of the Leased Property shall be paid in full by the Lessee; , (iii) if the Lessee properly elects the Sale Option with Remarketing Option, the principal amount of, and accrued interest on, the A Loans in respect to the of such Leased Property, and subject to ARTICLES XX and XXI will be paid out of the LeaseRecourse Deficiency Amount, and the Lessee shall only be required to pay to Administrative Agent 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 Lessor's Invested Amounts in respect of such Leased Property, the proceeds of the sale of the such 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 the Lessee's obligation to purchase the such Leased Property under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans in respect of such Leased Property, PLUSand accrued interest thereon, the Lessor's Invested Amounts in respect of such Leased Property and accrued Yield thereon and all other obligations of the Lessee owing to the extent not included Funding Parties in the Lease Balance, all other amounts then due from Lessee to the Participants under the Operative Documentsrespect of such Leased Property.
Appears in 1 contract
Samples: Master Agreement (Ruby Tuesday Inc)
Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessees and the Lenders Funding Parties that: (i) subject to clauses (ii) and (iii) below, the amount and timing of installments of Basic Rent due and payable from time to time from the related Lessee under the Lease shall be equal to the aggregate payments due and payable as Interest with respect to interest on the Loans in respect of such Leased Property and Yield on the Certificate Amounts Lessor's Invested Amount in respect of such Leased Property on each Payment Date; (ii) if a Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option with respect to any Leased Property or becomes obligated or otherwise elects to purchase the any Leased Property under the Lease, then the Loans, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of Lessee the Lessees owing to Lessor and the Participants Funding Parties with respect to such Leased Property shall be paid in full by the related Lessee; , (iii) if a Lessee properly elects the Sale Remarketing Option with respect to any Leased Property, (A) such Lessee will only be required to pay the Recourse Deficiency Amount with respect to such Leased Property and the other amounts required to be paid pursuant to Section 14.6 of the Lease with respect to such Leased Property, which amounts shall be used to pay to the Lenders the principal of the A Loans with respect to such Leased Property and to the Lessor the A Allocated Amount with respect to such Leased Property, and subject to ARTICLES XX and XXI of the Lease, (B) such Lessee shall only be required to pay to Administrative Agent the Lenders the principal amount of the B Loans with respect to such Leased Property and to the Lessor the B Allocated Amount and the Lessor's Net Invested Amount with respect to such Leased Property, to the extent of the proceeds of the sale of the Leased Property, the Sale Option Recourse Amount with respect to the related Leased Property and any amounts due pursuant to SECTION 20.2 in accordance with Section 14.6 of the Lease (which aggregate amounts may be less than the Lease Balance), together with all other amounts due and payable by LesseeLease; and (iv) upon an Event of Default resulting in an acceleration of Lessee's the Lessees' obligation to purchase the Leased Property Properties under the Lease at any timeLease, the amounts then due and payable by Lessee the Lessees under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans, PLUSand accrued interest thereon, the Lessor's Invested Amount and accrued Yield thereon and all other obligations of the Lessees owing to the extent not included in Agent and the Lease Balance, all other amounts then due from Lessee Funding Parties pursuant to the Participants under the Operative Documents.
Appears in 1 contract
Samples: Master Agreement (Concord Efs Inc)
Amounts Due Under Lease. Anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of the Lessee, Guarantor, the 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; provided, however, that prior to the Applicable Base Term Commencement Date for any Uncompleted Facility or Uncompleted Unit, Lessee shall cause all Capitalized Costs and any other Supplemental Rent to be paid from Advances; (ii) if the Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease)Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under Assets or, to the Leaseextent permitted, then certain Equipment or a Facility or a Proposed Site, the Loans, the Certificate Amounts, all Interestaccrued and unpaid Interest and Yield thereon, Yield and any Fees and all other obligations of the Lessee owing to the Lessor and the Participants shall be paid in full by Lesseethe Lessee to the extent of the purchase amounts payable thereon; (iii) if the Lessee properly elects the Sale Option with respect to the Leased Property, and subject to ARTICLES Articles XX and XXI of the Lease, the Lessee shall only be required to pay to the Administrative Agent the proceeds of the sale of the Leased PropertyAssets, the Sale Option Recourse Aggregate RVG Amount with respect to the Leased Property and any amounts due pursuant to SECTION Section 20.2 of the Lease (which aggregate amounts may be less than the Lease Balanceunpaid principal of the Notes and Certificates), together with all other amounts due and payable by Lesseeas Supplemental Rent, but subject to the rights of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(i); and (iv) upon an Event of Default resulting in an acceleration of the Lessee's obligation to purchase the Leased Property Assets under the Lease at any timeor Supervisory Agreement, the amounts then due and payable by the Lessee under the Lease on a recourse basis shall include all amounts necessary to pay in full the Lease Aggregate Permitted Asset Balance, PLUS, it being understood that any difference between the Asset Balance and the Aggregate Permitted Asset Balance may be recovered from the proceeds from a sale of the Assets and the other Collateral subject to the extent not included in terms and conditions of the Lease BalanceOperative Agreements, plus all other amounts then due from the Lessee to the Participants under the Operative DocumentsAgreements, subject, however, (x) prior to the Applicable Base Term Commencement Date to the limitation on Lessee's recourse liability at Section 5.3 of the Supervisory Agreement with respect to any Uncompleted Unit or Uncompleted Facility and (y) any applicable limitation on Lessee's recourse liability to the Aggregate Permitted Asset Balance set forth in the Operative Agreements.
Appears in 1 contract
Samples: Participation Agreement (PPL Electric Utilities Corp)
Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessees and the Lenders Funding Parties that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessee under the related Lease shall be equal to the aggregate payments due and payable as Interest on with respect to interest on, and principal of, the Loans in respect of such Leased Property and Yield on on, and principal of, the Certificate Amounts Lessor's Invested Amounts, if any, in respect of such Leased Property on each Payment Date; (ii) if the related Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option or the Partial Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the related Lease, then the Loans, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of such Lessee owing to Lessor and the Participants Funding Parties in respect of the Leased Property shall be paid in full by such Lessee; , (iii) if the related Lessee properly elects the Sale Remarketing Option with or the Surrender Option, the principal amount of, and accrued interest on, the A Loans in respect to the of such Leased Property, and subject to ARTICLES XX and XXI will be paid out of the LeaseRecourse Deficiency Amount, and such Lessee shall only be required to pay to Administrative Agent 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 Lessor's Invested Amounts in respect of such Leased Property, the proceeds of the sale of the such 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 the related Lessee's obligation to purchase the such Leased Property under the Lease at any timerelated Lease, the amounts then due and payable by such Lessee under the such Lease shall include all amounts necessary to pay in full the Lease BalanceLoans in respect of such Leased Property, PLUSand accrued interest thereon, the Lessor's Invested Amounts in respect of such Leased Property and accrued Yield thereon and all other obligations of such Lessee owing to the extent not included Funding Parties in the Lease Balance, all other amounts then due from Lessee to the Participants under the Operative Documentsrespect of such Leased Property.
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Amounts Due Under Lease. Anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, GuarantorCertificate Trustee, Lessor, and Participants that from and after the Certificate Holders and the Lenders thatClosing Date: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessee under the Lease on a Payment Date shall be equal to the aggregate payments due and payable as in respect of principal and accrued Interest on the Loans Notes and redemptions of Certificate Amount and accrued Yield on the Certificate Amounts Certificates on each such 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 an Aircraft under the Lease, then the principal of the corresponding Loans, the Certificate Amounts, all Interest, accrued and unpaid Interest and all accrued and unpaid Yield and Fees thereon and all other obligations of the Lessee owing to Lessor and the Participants Financing Parties with respect thereto shall be paid in full by Lesseethe Lessee in accordance with Sections 21 and 22 of the Lease; (iii) if Lessee properly elects the Sale Option with respect to the Leased Property, any Aircraft and subject to ARTICLES XX and XXI remarkets such Aircraft in accordance with Section 23 of the Lease, on the Expiration Date Lessee shall only be required to pay to Administrative Agent the proceeds Sale Proceeds of the sale of such Aircraft and, if the Leased PropertySale Proceeds are less than the Lease Balance of such Aircraft, the amount of such difference but not more than the Sale Option Recourse Amount for such Aircraft, all in accordance with respect to Section 23 of the Leased Property Lease, and any other amounts due pursuant to SECTION 20.2 Section 7.9 hereof and such Section 23 of the Lease (which aggregate amounts may be less than the Lease BalanceBalance of such Aircraft), together with all other amounts due and payable by Lessee; and (iv) upon an a Lease Event of Default resulting in an acceleration of the Lessee's obligation to purchase the Leased Property Aircraft under the Lease at any timeLease, the amounts then due and payable by the Lessee under Section 14 of the Lease shall include all amounts necessary to pay in full the Lease Balanceoutstanding principal under the Loans, PLUSthe Certificate Amounts and all accrued Interest and Yield thereon, to the extent not included in the Lease Balance, plus all other amounts then due from payable by the Lessee to the Participants Financing Parties under the Operative Documents.
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Amounts Due Under Lease. (a) Anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, each Investor, SPC, the Certificate Holders Banks and the Lenders that: (i) 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 as Interest on each Loan Payment Date and Certificate Payment Date, respectively, with respect to interest and Facility Fees on the Loans Backup Facility Commitments and Investor Yield on the Certificate Amounts on each Payment Date; Investor Contributions then due.
(iib) Notwithstanding anything to the contrary contained in the Operative Agreements, if Lessee elects makes a payment of Rent to the Early Termination Option (other than any partial purchases 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 Section 18.1(b) 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 Lease)Banks) with respect to Facility Loans is due on June 1, 2001, the Purchase Option or becomes obligated or otherwise elects same amount is due on such date by the Lessor 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 SPC with respect to the Leased PropertySPC Loan, and subject by Lessee to ARTICLES XX and XXI of the LeaseLessor 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 only be required deemed to pay have been paid in a timely manner (i) by Lessee with respect to Administrative Agent the proceeds of the sale of the Leased PropertyBasic Rent, the Sale Option Recourse Amount (ii) by Lessor 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)SPC Loan, together with all other amounts due and payable by Lessee; and (iviii) upon an Event of Default resulting in an acceleration of Lessee's obligation to purchase by 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, SPC with respect to the extent not included in the Lease Balance, all other amounts then due from Lessee to the Participants under the Operative DocumentsFacility Loans.
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Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessees and the Lenders Funding Parties that: (i) subject to CLAUSES (II) and (III) below, the amount and timing of installments of Basic Rent due and payable from time to time from the related Lessee under the Lease shall be equal to the aggregate payments due and payable as Interest with respect to interest on the B Loans and the Synthetic Lease Loans in respect of such Leased Property and Yield on the Certificate Lessors Invested Amounts in respect of such Leased Property on each Payment Date; (ii) if the related Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, then the Loans, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of the related Lessee owing to Lessor and the Participants Funding Parties in respect of such Leased Property shall be paid in full by Lessee; , (iii) if the related Lessee properly elects the Sale Option with Remarketing Option, the principal amount of, and accrued interest on, the Synthetic Lease Loans in respect to of the Leased PropertyProperties, will be paid out of the Recourse Deficiency Amount, and subject to ARTICLES XX and XXI of the Lease, related Lessee shall only be required to pay to Administrative Agent the B Lenders in respect of the principal amount of the B Loans and to the Lessor in respect of the Lessors Invested Amounts, the proceeds of the sale of the Leased Property, the Sale Option Recourse Amount Properties in accordance with respect to the Leased Property and any amounts due pursuant to SECTION 20.2 Section 14.6 of the Lease (which aggregate amounts may be less than the Lease Balance), together with all other amounts due and payable by LesseeLease; and (iv) upon an Event of Default resulting in an acceleration of Lessee's the related Lessees obligation to purchase the Leased Property Properties under the Lease at any timeLease, the amounts then due and payable by Lessee the Lessees under the Lease shall include all amounts necessary to pay in full the B Loans and the Synthetic Lease BalanceLoans, PLUSand accrued interest thereon, the Lessors Invested Amounts and accrued Yield thereon and all other obligations of the Lessees owing to the extent not included in the Lease Balance, all other amounts then due from Lessee Funding Parties pursuant to the Participants under Operative Documents and the Operative DocumentsCredit Agreement.
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Amounts Due Under Lease. Anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of the Lessee, Guarantor, the Lessor, the Certificate Holders Participants and the Lenders Indenture Trustee 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 interest and principal on the Loans Notes and Certificate Yield on on, and the Certificate Purchaser Amounts with respect to, the Certificates on each Payment Date; (ii) if the 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 LoansNotes, the Certificate Purchaser Amounts, all Interestinterest and Certificate Yield, Yield and Fees thereon and all other obligations of the Lessee owing to Lessor the Certificate Holders, the Owner Trustee, the Note Holders and the Participants Indenture Trustee shall be paid in full by the Lessee; (iii) if the Lessee properly elects the Sale Option with respect to Remarketing Option, the Leased Property, and subject to ARTICLES XX and XXI of the Lease, Lessee shall only be required to pay to Administrative Agent the Lessor the proceeds of the sale of the Leased Property, the Sale Option Recourse Residual Value Guarantee Amount with respect to the Leased Property and any amounts due pursuant to SECTION 20.2 Section 13 of this Participation Agreement and Section 22.1 of the Lease (which aggregate amounts may be less than the Lease Balance), together with all other amounts due and payable by LesseeLease; and (iv) upon an Event of Default resulting in an acceleration of the Lessee's obligation to purchase the Leased Property under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Lease BalanceAsset Termination Value, PLUS, to the extent not included in the Lease Balance, plus all other amounts then due from the Lessee to the Participants Note Holders, the Indenture Trustee, the Certificate Holders and the Owner Trustee under the Operative Documents.
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Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessees and the Lenders Funding Parties that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the related Lessee under the Lease shall be equal to the aggregate payments due and payable as Interest on with respect to interest on, and principal of, the Loans in respect of such Leased Property and Yield on on, and principal of, the Certificate Lessor's Invested Amounts in respect of such Leased Property on each Payment Date; (ii) if the related Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option or the Partial Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, then the Loans, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of such Lessee owing to Lessor and the Participants Funding Parties in respect of the Leased Property shall be paid in full by such Lessee; , (iii) if the related Lessee properly elects the Sale Option with Remarketing Option, the principal amount of, and accrued interest on, the A Loans in respect to the of such Leased Property, and subject to ARTICLES XX and XXI will be paid out of the LeaseRecourse Deficiency Amount, and such Lessee shall only be required to pay to Administrative Agent the Lender in respect of the principal amount of the B Loans in respect of such Leased Property and to the Lessor in respect of the Lessor's Invested Amounts in respect of such Leased Property, the proceeds of the sale of the such 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 the related Lessee's obligation to purchase the such Leased Property under the Lease at any timeLease, the amounts then due and payable by such Lessee under the such Lease shall include all amounts necessary to pay in full the Lease BalanceLoans in respect of such Leased Property, PLUSand accrued interest thereon, the Lessor's Invested Amounts in respect of such Leased Property and accrued Yield thereon and all other obligations of such Lessee owing to the extent not included Funding Parties in the Lease Balance, all other amounts then due from Lessee to the Participants under the Operative Documentsrespect of such Leased Property.
Appears in 1 contract
Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessee and the Lenders Funding Parties 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 with respect to interest on, and principal of, the Loans in respect of such Leased Property and Yield on on, and principal of, the Certificate Amounts Lessor's Invested Amounts, if any, in respect of such Leased Property on each Payment Date; (ii) if the Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, then the Loans, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of the Lessee owing to Lessor and the Participants Funding Parties in respect of the Leased Property shall be paid in full by the Lessee; (iii) if the Lessee properly elects the Sale Option with 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 to the of such Leased Property, and subject to ARTICLES XX and XXI if any, will be paid out of the LeaseRecourse Deficiency Amount, and the Lessee shall only be required to pay to Administrative Agent 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 the such 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 the Lessee's obligation to purchase the such Leased Property under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans in respect of such Leased Property, PLUSand 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 extent not included Funding Parties in the Lease Balance, all other amounts then due from Lessee to the Participants under the Operative Documentsrespect of such Leased Property.
Appears in 1 contract
Samples: Master Agreement (Choicepoint Inc)
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 Lessee and the Lenders Funding Parties 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 with respect to interest on, and principal of, the Loans in respect of the Leased Property and Yield on on, and principal of, the Certificate Amounts Lessor's Invested Amounts, if any, in respect of the Leased Property on each Payment Date; (ii) if the Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option with respect to the Leased Property or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, then the Loans, Funded Amounts in respect of the Certificate AmountsLeased Property, all Interest, interest and Yield and Fees thereon and all other obligations of the Lessee owing to Lessor and the Participants Funding Parties in respect of the Leased Property shall be paid in full by the Lessee; (iii) if the Lessee properly elects the Sale Option with respect to Remarketing Option, the Leased Propertyprincipal amount of, and subject to ARTICLES XX accrued interest on, the A Loans and XXI the A Percentage of the LeaseLessor's Invested Amounts, if any, will be paid out of the Recourse Deficiency Amount, and the Lessee shall only be required to pay to Administrative Agent the Lenders in respect of the principal amount of the B Loans and to the Lessor in respect of the B Percentage of the Lessor's Invested Amounts, if any, 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 the Lessee's obligation to purchase the Leased Property under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans in respect of the Leased Property, PLUSand accrued interest thereon, the Lessor's Invested Amounts in respect of the Leased Property, if any, and accrued Yield thereon and all other obligations of the Lessee owing to the extent not included Funding Parties in respect of the Lease Balance, all other amounts then due from Lessee to the Participants under the Operative DocumentsLeased Property.
Appears in 1 contract
Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessee and the Lenders Funding Parties 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 with respect to interest on, and principal of, the Loans in respect of such Leased Property and Yield on on, and principal of, the Certificate Amounts Lessor's Invested Amounts, if any, in respect of such Leased Property on each Payment Date; (ii) if the Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option or the Partial Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, then the Loans, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of the Lessee owing to Lessor and the Participants Funding Parties in respect of the Leased Property shall be paid in full by the Lessee; , (iii) if the Lessee properly elects the Sale Remarketing Option with or the Surrender Option, the principal amount of, and accrued interest on, the A Loans in respect to the of such Leased Property, and subject to ARTICLES XX and XXI will be paid out of the LeaseRecourse Deficiency Amount, and the Lessee shall only be required to pay to Administrative Agent 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 Lessor's Invested Amounts in respect of such Leased Property, the proceeds of the sale of the such 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 the Lessee's obligation to purchase the such Leased Property under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans in respect of such Leased Property, PLUSand accrued interest thereon, the Lessor's Invested Amounts in respect of such Leased Property and accrued Yield thereon and all other obligations of the Lessee owing to the extent not included Funding Parties in the Lease Balance, all other amounts then due from Lessee to the Participants under the Operative Documentsrespect of such Leased Property.
Appears in 1 contract
Samples: Master Agreement (Ruby Tuesday Inc)
Amounts Due Under Lease. Anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of the Lessee, Guarantor, Lessor, the Certificate Holders Lessor and the Lenders that: (ia) 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 interest on the Loans and Yield on the Certificate Lessor Amounts on each Rent Payment Date; (iib) if the 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 LeaseLease or the Construction Agency Agreement, then the Loans, the Certificate Lessor Amounts, all Interestaccrued and unpaid interest, Yield and Facility Fees and all other obligations of the Lessee owing to the Administrative Agent, the Lessor and the Participants Lenders shall be paid due and payable in full by Lesseethe Lessee on the date set forth in the Construction Agency Agreement or the Lease, as applicable; (iiic) if the Lessee properly elects the Sale Option with respect to Remarketing Option, the Leased Property, and subject to ARTICLES XX and XXI of the Lease, Lessee shall only be required to pay to Administrative Agent the Lessor the proceeds of the sale of the Leased Property, amounts payable pursuant to clause (i) of Section 20.1(m) of the Sale Option Lease (not to exceed the Maximum Recourse Amount with respect to the Leased Property Amount) and any amounts due pursuant to SECTION Article XIII hereof and Section 20.2 of the Lease Lease; (which aggregate amounts may be less than the Lease Balance), together with all other amounts due and payable by Lessee; and (ivd) upon an the occurrence of a Lease Event of Default resulting or a CAA Event of Default other than a Limited Recourse CAA Event of Default that results in an acceleration of the Lessee's obligation to purchase the Leased Property under or pay the Lease at any timeProperty Cost, the amounts then due and payable by the 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, Property Costs plus all other amounts then due from the Lessee to the Participants under the Operative Documents; and (e) if the Lessee elects to purchase or is required to purchase the Property pursuant to Section 15.1, 16.2(e) or Article XVIII of the Lease or Section 6.1 or 6.2 of the Construction Agency Agreement, the amounts then due and payable by the Lessee shall include all amounts necessary to pay the Property Balance of such Property.
Appears in 1 contract
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 Lessee and the Lenders Funding Parties that: (i) subject to clauses (ii) and (iii) below, 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 with respect to interest on the Loans and Yield on the Certificate Amounts Lessor’s Invested Amount on each Payment Date; (ii) if the 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 Funded Amounts, all Interest, interest and Yield and Fees thereon and all other obligations of the Lessee owing to Lessor and the Participants Funding Parties shall be paid in full by the Lessee; , (iii) if the Lessee properly elects the Sale Option with respect Remarketing Option, (A) the Lessee will only be required to pay the Leased Property, Recourse Deficiency Amount and subject the other amounts required to ARTICLES XX and XXI be paid pursuant to Section 14.6 of the Lease, which amounts shall be used to pay to the Lenders the principal of the Loans and to the Lessor the Allocated Amount in part, and (B) the Lessee shall only be required to pay to Administrative Agent the Lenders the remaining principal amount of the Loans and to the Lessor the remaining Allocated Amount and the Lessor’s Net Invested Amount, to the extent of the proceeds of the sale of the Leased Property, the Sale Option Recourse Amount Property in accordance with respect to the Leased Property and any amounts due pursuant to SECTION 20.2 Section 14.6 of the Lease (which aggregate amounts may be less than the Lease Balance), together with all other amounts due and payable by LesseeLease; and (iv) upon an Event of Default resulting in an acceleration of the Lessee's ’s obligation to purchase the Leased Property under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans, PLUSand accrued interest thereon, the Lessor’s Invested Amount and accrued Yield thereon and all other obligations of the Lessee owing to the extent not included in Agent and the Lease Balance, all other amounts then due from Lessee Funding Parties pursuant to the Participants under the Operative Documents.
Appears in 1 contract
Amounts Due Under Lease. Anything With respect to each Leased Property, ----------------------- anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders related Lessee and the Lenders Participants that: (i) the amount and timing of installments such of Basic Rent due and payable from time to time from the related Lessee under the related Lease shall be equal to the aggregate payments due and payable as Interest on with respect to interest on, and principal of, the Loans in respect of such Leased Property and Yield on the Certificate Amounts Lessor's Invested Amount in respect of such Leased Property on each Payment Date; (ii) if such 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 such Leased Property under the such Lease, then the Loans, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of such Lessee owing to Lessor and the Participants in respect of such Funded Property shall be paid in full by such Lessee; , (iii) if such Lessee properly elects the Sale Remarketing Option with respect to or the Leased PropertySurrender Option, the principal amount of, and subject to ARTICLES XX and XXI accrued interest on, the A Loans in respect of such Leased Property will be paid out of the LeaseRecourse Deficiency Amount, and such Lessee shall only be required to pay to Administrative Agent 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 Lessor's Invested Amount in respect of such Leased Property the proceeds of the sale of the such 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 such Lessee's obligation to purchase the such Leased Property under the Lease at any timesuch Lease, the amounts then due and payable by such Lessee under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans in respect of such Leased Property and accrued interest thereon, PLUS, to the extent not included Lessor's Invested Amount in the Lease Balance, respect of such Leased Property and accrued Yield thereon and all other amounts then due from obligations of such Lessee owing to the Participants under the Operative Documentsin respect of such Leased Property.
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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 Lessee and the Lenders Participants that: (ia) 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 interest on the Loans Loans, Return on Capital and Yield on the Certificate Lessor Amounts on each Rent Payment Date; (iib) if the 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 Capital, the Lessor Amounts, all Interestaccrued and unpaid interest, Return, Yield and Fees and all other obligations of the Lessee owing to Lessor the Administrative Agent, the Structuring Agent, and the Participants shall be paid due and payable in full by Lesseethe Lessee on the date set forth in the Lease; (iiic) if the Lessee properly elects the Sale Option with respect to Remarketing Option, the Leased Property, and subject to ARTICLES XX and XXI of the Lease, Lessee shall only be required to pay to Administrative Agent the Lessor the proceeds of the sale of the Leased Property, amounts payable pursuant to clause (i) of Section 20.1(m) of the Sale Option Lease (not to exceed the Maximum Recourse Amount with respect to the Leased Property Amount) and any amounts due pursuant to SECTION Article XIII hereof and Section 20.2 of the Lease Lease; (which aggregate amounts may be less than the Lease Balance), together with all other amounts due and payable by Lessee; and (ivd) upon an the occurrence of a Lease Event of Default resulting in (and an acceleration of the Lessee's ’s obligation to purchase the Leased Property under or pay the Lease at any timeProperty Cost), the amounts then due and payable by the 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, Property Balance plus all other amounts then due from the Lessee to the Participants under the Operative Documents; and (e) if the Lessee elects to purchase or is required to purchase the Property pursuant to Section 15.1, 16.2(e) or Article XVIII of the Lease, the amounts then due and payable by the Lessee shall include all amounts necessary to pay the Property Balance.
Appears in 1 contract
Amounts Due Under Lease. Anything Notwithstanding anything else herein or elsewhere in the Operative Documents to the contrary notwithstandingherein, it is the intention of LesseeLessee and Lessor that, Guarantor, Lessor, subject to the Certificate Holders and the Lenders thatexceptions listed below in this section: (i) the amount and timing of installments of Basic Rent due and payable from time to time from Lessee under the Lease Lease, as converted into fixed payments pursuant to the Interest Rate Swap Agreement entered into by Lessor on January 23, 2012, shall be equal to the aggregate payments due and payable as Interest on the Loans and Yield on the Certificate Amounts on each Payment DateDate with respect to Yield on, and any principal of, the Equity Investment; (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 LoansProperty, the Certificate Amountsoutstanding principal amount of the Equity Investment, all InterestYield thereon, Yield plus all costs and Fees any other amounts payable by Lessee under any Operative Document 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 Remarketing Option, the Leased Propertyprincipal amount of, and subject to ARTICLES XX accrued Yield on, the Equity Investment plus all costs and XXI any other amounts payable by Lessee under any Operative Document will be paid out 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 LesseeObligation; and (iv) upon an Event of Default resulting in an any acceleration of the Termination Date and Lessee's ’s obligation to purchase the Leased Property under the Lease at any timeas a result of a Lease Event of Default that did not arise solely from a Limiting Event, 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, Equity Investment and accrued Yield thereon and all other amounts then due from obligations of Lessee owing to the Participants under the Operative DocumentsLessor.
Appears in 1 contract
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 Lessee and the Lenders Funding Parties 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 with respect to interest on, and principal of, the Loans and Yield on on, and principal of, the Certificate Amounts Lessor's Invested Amounts, on each Payment Date; (ii) if the Lessee elects the Early Termination Option (other than any partial purchases pursuant or is deemed to Section 18.1(bhave elected) 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 or 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 timeis accelerated as a result of an Event of Default, the amounts then due Funded Amounts in respect of the Leased Property, all interest and payable by Yield thereon and all other obligations of the Lessee under owing to the Lease Funding Parties in respect of the Leased Property shall include all amounts necessary to pay be paid in full by the Lease BalanceLessee; and (iii) if the Lessee properly elects the Remarketing Option or the Surrender Option, PLUSthe principal amount of, and accrued interest on, the A Loans will be fully paid out of the Recourse Deficiency Amount, and the Lessee shall only be required to make payments to the extent not included Lenders in respect of the Lease Balance, all other amounts then due from Lessee principal amount of the B Loans and to the Participants under Lessor in respect of the Operative DocumentsLessor's Invested Amounts out of the proceeds of the sale of such Leased Property.
Appears in 1 contract
Amounts Due Under Lease. Anything Notwithstanding anything else herein or elsewhere in the Operative Documents to the contrary notwithstandingherein, it is the intention of Lessee, Guarantor, Lessor, Lender and Guarantor that, subject to the Certificate Holders and the Lenders thatexceptions listed below in this section: (i) the amount and timing of installments of Basic Rent due and payable from time to time from Lessee under the Lease Lease, as converted into floating payments pursuant to the Interest Rate Swap Agreement entered into by Lessor on the Closing Date, shall be equal to the aggregate payments due and payable as Interest on the Loans and Yield on the Certificate Amounts on each Payment DateDate with respect to interest on, and any principal of, the Loan and Yield on, and any principal of, the Equity Investment; (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 LoansProperty, the Certificate Amountsoutstanding principal amount of the Loan and the Equity Investment, all Interestinterest and Yield thereon, Yield plus all costs and Fees any other amounts payable by Lessee under any Operative Document and all other obligations of Lessee owing to Lessor and the Participants Lender shall be paid in full by Lessee; (iii) if Lessee properly elects the Sale Remarketing Option with respect to or the Leased PropertySurrender Option, the principal amount of, and subject to ARTICLES XX accrued interest on, the Loan and XXI the Equity Investment plus all costs and any other amounts payable by Lessee under any Operative Document will be paid out 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 LesseeObligation; and (iv) upon an Event of Default resulting in an any acceleration of the Termination Date and Lessee's ’s obligation to purchase the Leased Property under the Lease at any timeas a result of a Lease Event of Default that did not arise solely from a Limiting Event, the amounts then due and payable by Lessee under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoan, PLUSand accrued interest thereon, the Equity Investment and accrued Yield thereon and all other obligations of Lessee owing to Lessor and Lender. The understanding set forth in the preceding sentence is subject to the following exceptions:
(a) After any Additional Payment, Basic Rent will not be sufficient to cover Yield as it accrues on the Equity Investment to the extent that such Yield is to be capitalized and added to the Equity Investment as provided in Sections 2.2(b) and 2.3(a).
(b) Lessee’s obligations (including its obligations to pay Basic Rent) will not included in be accelerated or increased by reason of (1) any Default or Event of Default on the part of Lessor under the Credit Agreement (e.g., a failure of Lessor to maintain its corporate existence as required by the Operative Documents or the existence of judgment lien against Lessor which constitutes a Lessor Lien) unless such Default or Event of Default is caused by a corresponding Lease BalanceDefault or Lease Event of Default on the part of Lessee (e.g., all other amounts then due from a failure by Lessee to rectify any lien against the Participants under Leased Property other than a Lessor Lien within the Operative Documentsperiod for cure allowed by the Lease) or (2) any modifications to the Notes, the Credit Agreement, the Deed of Trust or other documents that evidence or secure the Loan made without Lessee’s prior written approval or consent.
Appears in 1 contract
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 Agent Lessor and the Lenders Participants that: (i) the amount and timing of installments of the 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 Tranche A Basic Rent and Yield on the Certificate Amounts Tranche B Basic Rent and Tranche C Equity Basic Rent 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)Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property Premises under the Lease, then the Loans, the Certificate Amounts, all Interest, Yield and Fees Lease Balance 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, Premises and subject to ARTICLES Article XX and XXI of the Lease, Lessee shall only be required to pay to Administrative Agent Lessor the Construction Recourse Amount, the proceeds of the sale of the Leased Property, the Sale Option Recourse Amount with respect to the Leased Property Premises and any amounts due pursuant to SECTION 20.2 Article XX of the Lease (which aggregate amounts may be less than the Lease Balance), together with all other amounts due and payable by LesseeSupplemental Rent; and (iv) upon an Event of Default resulting in an acceleration of Lessee's obligation to purchase the Leased Property Premises under the Lease at any timeLease, 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, plus all other amounts then due from Lessee to Agent Lessor and the Participants under the Operative Documents.
Appears in 1 contract
Samples: Participation Agreement (Adc Telecommunications Inc)
Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee, Guarantor, Lessor, the Certificate Holders Lessee and the Lenders Funding Parties 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 with respect to interest on, and principal of, the Loans in respect of such Leased Property and Yield on on, and principal of, the Certificate Amounts Lessor's Invested Amounts, if any, in respect of such Leased Property on each Payment Date; (ii) if the Lessee elects the Early Termination Option (other than any partial purchases pursuant to Section 18.1(b) of the Lease), the Purchase Option or the Partial Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, then the Loans, the Certificate AmountsFunded Amounts in respect of such Leased Property, all Interest, interest and Yield and Fees thereon and all other obligations of the Lessee owing to Lessor and the Participants Funding Parties in respect of the Leased Property shall be paid in full by the Lessee; , (iii) if the Lessee properly elects the Sale Option with 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 to the of such Leased Property, and subject to ARTICLES XX and XXI if any, will be paid out of the LeaseRecourse Deficiency Amount, and the Lessee shall only be required to pay to Administrative Agent 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 the such 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 the Lessee's obligation to purchase the such Leased Property under the Lease at any timeLease, the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Lease BalanceLoans in respect of such Leased Property, PLUSand 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 extent not included Funding Parties in the Lease Balance, all other amounts then due from Lessee to the Participants under the Operative Documentsrespect of such Leased Property.
Appears in 1 contract
Samples: Master Agreement (Aaron Rents Inc)