Common use of Amounts Due Under Lease Clause in Contracts

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee and the Participants that: (i) the amount and timing of installments of Basic Rent due and payable from time to time under the Lease shall be equal to the aggregate payments due and payable as Yield on the Rent Assignment Contributions and Yield on the Lessor Amount due on each Payment Date; (ii) if Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the Lease Balance, all accrued and unpaid Yield thereon, any Fees and all other obligations of Lessee owing to 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 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 20.2 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 obligations to purchase the Leased Property under the Lease, 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.

Appears in 2 contracts

Samples: Participation Agreement (Norfolk Southern Corp), Participation Agreement

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Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee and the Participants that: (i) the amount and timing of installments of Basic Rent due and payable from time to time under the Lease shall be equal to the aggregate payments due and payable as Yield on the Rent Assignment Contributions Contribution Amount and Yield on the Lessor Amount due on each Payment Date; (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, then the Lease BalanceBalance (including, without duplication, all accrued and unpaid Yield thereon, ) and any Fees and all other obligations of the Lessee owing to 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 and subject to 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 20.2 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount)Lease, together with all other amounts due and payable as Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(i5.3(d); and (iv) upon an Event of Default resulting in an acceleration of the Lessee’s obligations to purchase the Leased Property under the Lease, 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 BalanceBalance and all other amounts owing by Lessee to the Administrative Agent, if any, and/or the Participants under the Operative Documents (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 else herein or elsewhere in the Operative Documents to the contrary notwithstanding, it is the intention of Lessee Lessee, Guarantor, Lessor, the Certificate Holders and the Participants 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 Yield Interest on the Rent Assignment Contributions Loans and Yield on the Lessor Amount due Certificate Amounts on each Payment Date; (ii) if Lessee elects the Early Termination OptionOption (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 Lease BalanceLoans, the Certificate Amounts, all accrued Interest, Yield and unpaid Yield thereon, 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 unpaid principal of the Rent Assignment Contributions and Lessor AmountLease Balance), together with all other amounts due and payable as 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)by Lessee; and (iv) upon an Event of Default resulting in an acceleration of Lessee’s obligations 's obligation to purchase the Leased Property under the LeaseLease at any time, 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 (Teletech Holdings Inc), Participation Agreement (Teletech Holdings Inc)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessee, the Lessor, the Participants and the Participants Agent that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessee under the Lease shall be equal to the aggregate payments due and payable as Yield on to the Rent Assignment Contributions and Yield on the Lessor Amount due Participants in respect of their Participation Interests on each Payment Date; (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the Lease BalanceParticipation Interests, all accrued fees and unpaid Yield thereon, any Fees all of the interest on overdue amounts thereon and all other obligations of the Lessee owing to the Lessor, the Participants and the Agent shall be paid in full by the Lessee; (iii) if the Lessee properly elects the 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 the Administrative Agent 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 13 of this Participation Agreement and Section 22.2 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(iAsset Termination Value); and (iv) upon an Event of Default resulting in an acceleration of the Lessee’s obligations 's obligation to purchase the Leased Property under the Lease, 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 BalanceAsset Termination Value, plus all other amounts then due from the Lessee to the Participants, the Agent and the Lessor under the Operative Documents.

Appears in 2 contracts

Samples: Participation Agreement (Chase Industries Inc), Participation Agreement (Quantum Corp /De/)

Amounts Due Under Lease. Anything With respect to the Leased ----------------------- Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee and the Participants 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 Yield with respect to interest on the Rent Assignment Contributions Loans and Yield on the Lessor Amount due Lessor's Invested Amounts on each Payment Date; (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, the Lease BalanceFunded Amounts, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to 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 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 the Administrative Agent 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 14.6 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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)Lease; and (iv) upon ------------ an Event of Default resulting in an acceleration of the Lessee’s obligations 's obligation to purchase the Leased Property under the Lease, 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 BalanceLoans, and accrued interest thereon, the Lessor's Invested Amounts and accrued Yield thereon and all other obligations of the Lessee owing to the Funding Parties pursuant to 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 to the contrary notwithstanding, it is the intention of the Lessee and the Participants that: (i) the amount and timing of installments of Basic Rent due and payable from time to time under the Lease shall be equal to the aggregate payments due and payable as Yield Interest on the Rent Assignment Contributions Loans and Yield on the Lessor Amount due on each Payment Date; (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the Lease BalanceLoans, the Lessor Amount, all accrued and unpaid Interest and Yield thereon, any Fees and all other obligations of the Lessee owing to 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 and subject to 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 20.2 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount)Lease, together with all other amounts due and payable as Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(i5.3(d); and (iv) upon an Event of Default resulting in an acceleration of the Lessee’s obligations to purchase the Leased Property under the Lease, 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 BalanceBalance and all other amounts owing by Lessee to the Administrative Agent, if any, and/or the Participants under the Operative Documents (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 to the contrary notwithstanding, it is the intention of the Lessee and the Participants 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 Yield on with respect to interest on, and principal of, the Rent Assignment Contributions Loans in respect of such Leased Property and Yield on on, and principal of, the Lessor Amount due 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, 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 LeaseLease or the Construction Agency Agreement, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to 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 Property, will be paid out of the LeaseRecourse Deficiency Amount, and the Lessee shall only be required to pay to the Administrative Agent 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 unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 the Lessee’s obligations 's obligation to purchase the such Leased Property under the Lease, 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 BalanceLoans in respect of such Leased Property, and 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 Funding Parties in respect 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 to the contrary notwithstanding, it is the intention of Lessee the Lessee, the Lessor and the Participants Lenders that: (i) the amount and timing of installments of Basic Rent due and payable from time to time under the Lease shall be equal to the aggregate payments due and payable as Yield Interest on the Rent Assignment Contributions Loans and Yield on the Lessor Amount due on each Payment Date; (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Subject Property under the Lease, then the Lease BalanceLoans, the Lessor Amount, all accrued and unpaid Interest and Yield thereon, 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 Subject Property and subject to Articles XX and XXI of the Lease, the Lessee shall only be required to pay to the Administrative 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 20.2 of the Lease (which aggregate amounts may be less than the aggregate amount of the unpaid principal of the Rent Assignment Contributions Notes and Lessor Amount), together with all other amounts due and payable as 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)under 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 obligations obligation to purchase the Leased Subject Property under the Lease, 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 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 to the contrary notwithstanding, it is the intention of Lessee the Lessee, the Lessor and the Participants 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 Yield interest on the Rent Assignment Contributions Loans and Yield on the Lessor Amount due Amounts on each Rent Payment Date; (iib) if the Lessee elects the Early Termination Option, 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 Lease BalanceLessor Amounts, all accrued and unpaid interest, Yield thereon, any and Facility Fees and all other obligations of the Lessee owing to the Participants Administrative Agent, the Lessor and the 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 the Administrative Agent 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 Article XIII hereof and Section 20.2 of the Lease Lease; (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 (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 obligations 's obligation to purchase the Leased Property under or pay the LeaseProperty Cost, 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 Property Costs plus all other amounts then due from the Lessee 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 Balanceor 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

Samples: Participation Agreement (Adobe Systems Inc)

Amounts Due Under Lease. Anything else herein or elsewhere ----------------------- to the contrary notwithstanding, it is the intention of the Lessee and the Participants 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 Yield on with respect to interest on, and principal of, the Rent Assignment Contributions Loans in respect of the Leased Property and Yield on on, and principal of, the Lessor Amount due 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, the Purchase Option with respect to the Leased Property or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the Lease BalanceFunded Amounts in respect of the Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to 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 Property principal 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 the Administrative Agent 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 unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 the Lessee’s obligations 's obligation to purchase the Leased Property under the Lease, 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 BalanceLoans in respect of the Leased Property, and 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 Funding Parties in respect of the Leased Property.

Appears in 1 contract

Samples: Master Agreement (Certegy Inc)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessee, the Lessor and the Participants Lenders that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessee under the Lease shall be equal to the aggregate payments due and payable as Yield interest on the Rent Assignment Contributions Loans and Yield on the Lessor Amount due Amounts on each Basic Rent Payment Date; (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase any of the Leased Property Properties under the Lease, the Lease BalanceLoans, the Lessor Amounts, all accrued interest, Yield and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to the Participants Lessor and the Lenders 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 the Administrative Agent Lessor the proceeds of the sale of each of the Leased PropertyProperties, the Sale Option Recourse Amount with respect to the Leased Property Loan Balance and any amounts due pursuant to ARTICLE XIII hereof and Section 20.2 of the Master Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(iLease Balance); and (iv) upon an Event of Default resulting in an acceleration of the Lessee’s obligations 's obligation to purchase the Leased Property Properties under the Lease, 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 all other amounts then due from the Lessee to the Participants under the Operative Documents.

Appears in 1 contract

Samples: Participation Agreement (Symantec Corp)

Amounts Due Under Lease. Anything With respect to each Leased Property, ----------------------- anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the related Lessee and the 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 Yield on with respect to interest on, and principal of, the Rent Assignment Contributions Loans in respect of such Leased Property and Yield on the Lessor Lessor's Invested Amount due in respect of such Leased Property on each Payment Date; (ii) if such Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the such Leased Property under the such Lease, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of such Lessee owing to 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 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 the Administrative Agent 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 unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 such Lessee’s obligations 's obligation to purchase the such Leased Property under the such Lease, the amounts then due and payable by such Lessee under the Lease on a recourse basis shall include all amounts necessary to pay in full the Lease BalanceLoans in respect of such Leased Property and accrued interest thereon, the Lessor's Invested Amount in respect of such Leased Property and accrued Yield thereon and all other obligations of such Lessee owing to the Participants in respect of such Leased Property.

Appears in 1 contract

Samples: Participation Agreement (Alco Standard Corp)

Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee and the Participants 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 Yield on with respect to interest on, and principal of, the Rent Assignment Contributions Loans in respect of such Leased Property and Yield on on, and principal of, the Lessor Amount due 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, 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, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to 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 Property principal amount of, and subject to Articles XX accrued interest on, the A Loans and XXI the A Percentage of the LeaseLessor's Invested Amounts in respect of such Leased Property, if any, will be paid out of the Recourse Deficiency Amount, and the Lessee shall only be required to pay to the Administrative Agent 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 unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 the Lessee’s obligations 's obligation to purchase the such Leased Property under the Lease, 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 BalanceLoans in respect of such Leased Property, and accrued interest thereon, the Lessor's Invested Amounts in respect of such Leased Property, if any, and accrued Yield thereon and all other obligations of the Lessee owing to the Funding Parties in respect of such Leased Property.

Appears in 1 contract

Samples: Lease Participation Agreement (Aaron Rents Inc)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessee, the Lessor, the Participants and the Participants 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 Yield interest and principal on the Rent Assignment Contributions Notes and Certificate Yield on on, and the Lessor Amount due Certificate Purchaser Amounts with respect to, the Certificates on each Payment Date; (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the Lease BalanceNotes, the Certificate Purchaser Amounts, all accrued interest and unpaid Yield thereonCertificate Yield, any Fees thereon and all other obligations of the Lessee owing to the Participants Certificate Holders, the Owner Trustee, the Note Holders and the 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 the Administrative Agent 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 13 of this Participation Agreement and Section 22.1 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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)Lease; and (iv) upon an Event of Default resulting in an acceleration of the Lessee’s obligations 's obligation to purchase the Leased Property under the Lease, 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 BalanceAsset Termination Value, plus all other amounts then due from the Lessee to the Note Holders, the Indenture Trustee, the Certificate Holders and the Owner Trustee under the Operative Documents.

Appears in 1 contract

Samples: Participation Agreement (Peoplesoft Inc)

Amounts Due Under Lease. Anything else herein or elsewhere to ----------------------- the contrary notwithstanding, it is the intention of the Lessee and the Participants 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 Yield on with respect to interest on, and principal of, the Rent Assignment Contributions Loans and Yield on on, and principal of, the Lessor Amount due Lessor's Invested Amounts, on each Payment Date; (ii) if the Lessee elects the Early Termination Option, (or is deemed to have elected) the Purchase Option with respect to the Leased Property, or becomes obligated or otherwise elects the Lessee's obligation to purchase the Leased Property under the Leaseis accelerated as a result of an Event of Default, the Lease BalanceFunded Amounts in respect of the Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to the Participants Funding Parties in respect of the Leased Property shall be paid in full by the Lessee; and (iii) if the Lessee properly elects the Sale Remarketing Option with respect to or the Leased Property Surrender Option, the principal amount of, and subject to Articles XX and XXI accrued interest on, the A Loans will be fully paid out of the LeaseRecourse Deficiency Amount, and the Lessee shall only be required to pay make payments to the Administrative Agent Lenders in respect of the principal amount of the B Loans and to the Lessor in respect of the Lessor's Invested Amounts out of 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 unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 obligations to purchase the Leased Property under the Lease, 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.

Appears in 1 contract

Samples: Master Agreement (Sterling Commerce Inc)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee Lessee, Certificate Trustee, and Participants that from and after the Participants 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 Notes and redemptions of Certificate Amount and accrued Yield on the Rent Assignment Contributions and Yield Certificates on the Lessor Amount due on each such Payment Date; (ii) if Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property an Aircraft under the Lease, the Lease Balanceprincipal of the corresponding Loans, Certificate Amounts, all accrued and unpaid Interest and all accrued and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to 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 the 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 7.9 hereof and such Section 23 of the Lease (which aggregate amounts may be less than the unpaid principal Lease Balance of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(isuch Aircraft); and (iv) upon an a Lease Event of Default resulting in an acceleration of the Lessee’s obligations 's obligation to purchase the Leased Property Aircraft under the Lease, the amounts then due and payable by the Lessee under Section 14 of the Lease on a recourse basis shall include all amounts necessary to pay in full the Lease Balanceoutstanding principal under the Loans, the Certificate Amounts and all accrued Interest and Yield thereon, plus all other amounts then payable by the Lessee to the Financing Parties under the Operative Documents.

Appears in 1 contract

Samples: Participation Agreement (Steelcase Inc)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessees, the Lessor and the Participants Lenders that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessees under the Master Lease shall be equal to the aggregate payments due and payable as interest on the Loans and Equity Yield on the Rent Assignment Contributions and Yield on the Lessor Amount due Equity Amounts on each Payment Date; (ii) if any Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase all of the Leased Property Properties under the Master Lease, the Lease BalanceLoans, the Equity Amounts, all accrued interest, Equity Yield and unpaid Yield thereon, any Commitment Fees thereon and all other obligations of Lessee the Lessees owing to the Participants Lessor and the Lenders shall be paid in full by such Lessee; (iii) if any 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 Lessees shall only be required to pay to the Administrative Agent (for the account of the Participants) the proceeds of the sale of each of the Leased PropertyProperties, the Sale Option Recourse Amount with respect to the Leased Property Loan Balance and any amounts due pursuant to ARTICLE XI hereof and Section 20.2 of the Master Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(iLease Balance); and (iv) upon an Event of Default resulting in an acceleration of Lessee’s obligations the obligation of the Lessees to purchase all of the Leased Property Properties under the Master Lease, the amounts then due and payable by Lessee the Lessees under the Master Lease on a recourse basis shall include all amounts necessary to pay in full the Lease Balance.

Appears in 1 contract

Samples: Participation Agreement (Cardinal Health Inc)

Amounts Due Under Lease. Anything else herein or elsewhere to ----------------------- the contrary notwithstanding, it is the intention of Lessee the Lessee, the Lessor, the Participants and the Participants Agent that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessee under the Lease shall be equal to the aggregate payments due and payable as Yield on to the Rent Assignment Contributions and Yield on the Lessor Amount due Participants in respect of their Participation Interests on each Payment Date; (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the Lease BalanceParticipation Interests, all accrued fees and unpaid Yield thereon, any Fees all of the interest on overdue amounts thereon and all other obligations of the Lessee owing to the Lessor, the Participants and the Agent shall be paid in full by the Lessee; (iii) if the Lessee properly elects the 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 the Administrative Agent 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 13 of this ---------- Participation Agreement and Section 22.2 of the Lease (which aggregate amounts ------------------------- may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(iAsset Termination Value); and (iv) upon an Event of Default resulting in an acceleration of the Lessee’s obligations 's obligation to purchase the Leased Property under the Lease, 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 BalanceAsset Termination Value, plus all other amounts then due from the Lessee to the Participants, the Agent and the Lessor under the Operative Documents.

Appears in 1 contract

Samples: Participation Agreement (Quantum Corp /De/)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessee, the Participants and the Participants Agent that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessee under the Lease shall be equal to the aggregate payments due and payable as Yield on to the Rent Assignment Contributions and Yield on the Lessor Amount due Participants in respect of their Participation Interests on each Payment Date; (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the Lease BalanceParticipation Interests, all accrued fees and unpaid Yield thereon, any Fees all of the interest on overdue amounts thereon and all other obligations of the Lessee owing to the Lessor, the Participants and the Agent shall be paid in full by the Lessee; (iii) if the Lessee properly elects the 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 the Administrative Agent 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 13 of this Participation Agreement and Section 22.2 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(iAsset Termination Value); and (iv) upon an a Event of Default resulting in an acceleration of the Lessee’s obligations 's obligation to purchase the Leased Property under the Lease, except as otherwise expressly limited in Section 17.2(h) of the Lease, 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.Asset Termination Value, plus all other amounts then due from the Lessee to the Participants, the Agent and the Lessor under the Operative Documents. SECTION 6

Appears in 1 contract

Samples: Participation Agreement (Yahoo Inc)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee and the Participants 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 Yield with respect to interest on the Rent Assignment Contributions Loans and Yield on the Lessor Lessor’s Invested Amount due on each Payment Date; (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the Lease BalanceFunded Amounts, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to 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 the Administrative Agent 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 14.6 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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)Lease; and (iv) upon an Event of Default resulting in an acceleration of the Lessee’s obligations obligation to purchase the Leased Property under the Lease, 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 BalanceLoans, and accrued interest thereon, the Lessor’s Invested Amount and accrued Yield thereon and all other obligations of the Lessee owing to the Agent and the Funding Parties pursuant to the Operative Documents.

Appears in 1 contract

Samples: Master Agreement (Bank of New York Co Inc)

Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee and the Participants 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 Yield on with respect to interest on, and principal of, the Rent Assignment Contributions Loans in respect of such Leased Property and Yield on on, and principal of, the Lessor Amount due 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, the Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to 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 Property principal amount of, and subject to Articles XX accrued interest on, the A Loans and XXI the A Percentage of the LeaseLessor's Invested Amounts in respect of such Leased Property, if any, will be paid out of the Recourse Deficiency Amount, and the Lessee shall only be required to pay to the Administrative Agent 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 unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 the Lessee’s obligations 's obligation to purchase the such Leased Property under the Lease, 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 BalanceLoans in respect of such Leased Property, and accrued interest thereon, the Lessor's Invested Amounts in respect of such Leased Property, if any, and accrued Yield thereon and all other obligations of the Lessee owing to the Funding Parties in respect of such Leased Property.

Appears in 1 contract

Samples: Master Agreement (Choicepoint Inc)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessee, the Lessor and the Participants Lenders that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessee under the Lease shall be equal to the aggregate payments due and payable as Yield interest on the Rent Assignment Contributions Loans and Yield on the Lessor Amount due Amounts on each Basic Rent Payment Date; (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase any of the Leased Property Properties under the Lease, the Lease BalanceLoans, the Lessor Amounts, all accrued interest, Yield and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to the Participants Lessor and the Lenders 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 the Administrative Agent Lessor the proceeds of the sale of each of the Leased PropertyProperties, the Sale Option Recourse Amount with respect to the Leased Property Loan Balance and any amounts due pursuant to Article XIII hereof and Section 20.2 of the Master Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(iLease Balance); and (iv) upon an Event of Default resulting in an acceleration of the Lessee’s obligations 's obligation to purchase the Leased Property Properties under the Lease, 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 all other amounts then due from the Lessee to the Participants under the Operative Documents.

Appears in 1 contract

Samples: Participation Agreement (Symantec Corp)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee and the Participants that: (i) the amount and timing of installments of Basic Rent due and payable from time to time under the Lease shall be equal to the aggregate payments due and payable as Yield (A) Accrual Rent on the Rent Assignment Contributions and Yield on the Lessor Amount 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, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the Lease Balance, all accrued and unpaid Yield thereon, any Fees and all other obligations of Lessee owing to the Participants shall be paid in full by the 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 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 20.2 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount)Lease, together with all other amounts due and payable as Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(i5.3(d); and (iv) upon an Event of Default resulting in an acceleration of the Lessee’s obligations to purchase the Leased Property under the Lease, 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.

Appears in 1 contract

Samples: Transaction Agreement (Corning Inc /Ny)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee and the 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 Yield interest on the Rent Assignment Contributions Loans, Return on Capital and Yield on the Lessor Amount due Amounts on each Rent Payment Date; (iib) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, then the Lease BalanceLoans, the Capital, the Lessor Amounts, all accrued and unpaid interest, Return, Yield thereon, any and Fees and all other obligations of the Lessee owing to 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 the Administrative Agent 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 Article XIII hereof and Section 20.2 of the Lease; (d) upon the occurrence of a Lease Event of Default (which aggregate amounts may be less than the unpaid principal and an acceleration of the Rent Assignment Contributions and Lessor AmountLessee’s obligation to purchase the Property or pay the Property Cost), together with the amounts then due and payable by the Lessee under the Lease shall include all amounts necessary to pay in full the Property Balance plus all other amounts then due and payable as Supplemental Rent, but subject to from the right of Lessee under the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(i)Operative Documents; and (ive) upon an Event of Default resulting in an acceleration of Lessee’s obligations if the Lessee elects to purchase or is required to purchase the Leased Property under pursuant to Section 15.1, 16.2(e) or Article XVIII of the Lease, 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 Property Balance.

Appears in 1 contract

Samples: Participation Agreement (Adobe Systems Inc)

Amounts Due Under Lease. Anything Notwithstanding anything else herein or elsewhere to the contrary notwithstandingherein, it is the intention of Lessee Lessee, Lessor, Lender and Guarantor that, subject to the Participants 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 Yield on the Rent Assignment Contributions and Yield on the Lessor Amount due 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, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the LeaseProperty, the Lease Balanceoutstanding principal amount of the Loan and the Equity Investment, all accrued interest and unpaid Yield thereon, plus all costs and any Fees other amounts payable by Lessee under any Operative Document and all other obligations of Lessee owing to the Participants Lessor and Lender shall be paid in full by Lessee; (iii) if Lessee properly elects the Sale Remarketing Option with respect to or the Leased Property Surrender 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 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 20.2 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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)Obligation; and (iv) upon an Event of Default resulting in an any acceleration of the Termination Date and Lessee’s obligations obligation to purchase the Leased Property under the LeaseLease as 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 on a recourse basis shall include all amounts necessary to pay in full the Lease Balance.Loan, and 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:

Appears in 1 contract

Samples: Participation Agreement (Lennox International Inc)

Amounts Due Under Lease. Anything With respect to each Leased ----------------------- Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessees and the Participants 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 Yield with respect to interest on the Rent Assignment Contributions Loans in respect of such Leased Property and Yield on the Lessor Amount due Lessor's Invested Amounts in respect of such Leased Property on each Payment Date; (ii) if the related Lessee elects the Early Termination Option, the Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the related Lessee owing to 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 Property and subject to Articles XX and XXI Properties, will be paid out of the LeaseRecourse Deficiency Amount, Lessee and the Lessees shall only be required to pay to the Administrative Agent 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 14.6 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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)Lease; and (iv) upon an Event of Default resulting in an acceleration of Lessee’s obligations the Lessees' obligation to purchase the Leased Property Properties under the Lease, 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 BalanceLoans, and accrued interest thereon, the Lessor's Invested Amounts and accrued Yield thereon and all other obligations of the Lessees owing to the Funding Parties pursuant to the Operative Documents.

Appears in 1 contract

Samples: Master Agreement (Rowe Companies)

Amounts Due Under Lease. Anything else herein or ----------------------- elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessee, the Lessor, the Participants and the Participants Agent that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessee under the Lease shall be equal to the aggregate payments due and payable as Yield on to the Rent Assignment Contributions and Yield on the Lessor Amount due Participants in respect of their Participation Interests on each Payment Date; (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the Lease BalanceParticipation Interests, all accrued fees and unpaid Yield thereon, any Fees all of the interest on overdue amounts thereon and all other obligations of the Lessee owing to the Lessor, the Participants and the Agent shall be paid in full by the Lessee; (iii) if the Lessee properly elects the 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 the Administrative Agent 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 13 ---------- of this Participation Agreement and Section 22.2 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(iAsset Termination Value); and (iv) upon an Event of Default resulting in an acceleration of the Lessee’s obligations 's obligation to purchase the Leased Property under the Lease, 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 BalanceAsset Termination Value, plus all other amounts then due from the Lessee to the Participants, the Agent and the Lessor under the Operative Documents.

Appears in 1 contract

Samples: Participation Agreement (Vitesse Semiconductor Corp)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessee, the Lessor, the Certificate Holders and the Participants Lenders that: (i) the amount and timing of installments of Basic Rent due and payable from time to time under the Lease shall be equal to the aggregate payments due and payable as Yield Interest on the Rent Assignment Contributions Loans and Yield on the Lessor Amount due 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, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under Assets or, to the Leaseextent permitted, certain Equipment or a Facility or a Proposed Site, the Lease BalanceLoans, the Certificate Amounts, all accrued and unpaid Interest and Yield thereon, 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 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 20.2 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions Notes and Lessor AmountCertificates), together with all other amounts due and payable as Supplemental Rent, but subject to the right 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 obligations 's obligation to purchase the Leased Property Assets under the LeaseLease or 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, 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 terms and conditions of the Operative Agreements, plus all other amounts then due from the Lessee to the Participants under the Operative Agreements, 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)

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Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee and the Participants 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 Yield on with respect to interest on, and principal of, the Rent Assignment Contributions Loans in respect of the Leased Property and Yield on on, and principal of, the Lessor Amount due 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, the Purchase Option with respect to the Leased Property or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the Lease BalanceFunded Amounts in respect of the Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to 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 Property principal 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 the Administrative Agent 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 unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 the Lessee’s obligations 's obligation to purchase the Leased Property under the Lease, 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 BalanceLoans in respect of the Leased Property, and 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 Funding Parties in respect of the Leased Property.

Appears in 1 contract

Samples: Lease Agreement (Fidelity National Information Services, Inc.)

Amounts Due Under Lease. Anything Subject to Section 3.19, but anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee and Lessee, Lessor, the Participants and Agent 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 Yield on to the Rent Assignment Contributions and Yield on the Lessor Amount due Participants in respect of their Participation Interests on each Payment Date; (ii) if Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the entire Adjusted Lease BalanceBalance and the Participants’ Participation Interests therein, all accrued fees and unpaid Yield thereon, any Fees all of the interest on overdue amounts thereon and all other obligations of Lessee owing to Lessor, the Participants and Agent 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 LeaseRemarketing Option, Lessee shall only be required to pay to the Administrative Agent 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 13 of this Participation Agreement and Section 22.2 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as Supplemental Rent, but subject to the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(iAsset Termination Value); and (iv) upon an a Lease Event of Default resulting in an acceleration of Lessee’s obligations 's obligation to purchase the Leased Property under the Lease, 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 BalanceAsset Termination Value, plus all other amounts then due from Lessee to the Participants, Agent and Lessor under the Operative Documents.

Appears in 1 contract

Samples: Participation Agreement (Quantum Corp /De/)

Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessees and the Participants 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 Yield on with respect to interest on, and principal of, the Rent Assignment Contributions Loans in respect of such Leased Property and Yield on on, and principal of, the Lessor Amount due Lessor's Invested Amounts in respect of such Leased Property on each Payment Date; (ii) if the related Lessee elects the Early Termination Option, 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, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of such Lessee owing to 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 Property, will be paid out of the LeaseRecourse Deficiency Amount, and such Lessee shall only be required to pay to the Administrative Agent 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 unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 the related Lessee’s obligations 's obligation to purchase the such Leased Property under the Lease, the amounts then due and payable by such Lessee under the such Lease on a recourse basis shall include all amounts necessary to pay in full the Lease BalanceLoans in respect of such Leased Property, and 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 Funding Parties in respect of such Leased Property.

Appears in 1 contract

Samples: Master Agreement (Dollar General Corp)

Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessees and the Participants 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 Yield with respect to interest on the Rent Assignment Contributions Loans in respect of such Leased Property and Yield on the Lessor Amount due Lessor’s Invested Amounts in respect of such Leased Property on each Payment Date; (ii) if a Lessee elects the Early Termination Option, the Purchase Option with respect to any Leased Property or becomes obligated or otherwise elects to purchase the any Leased Property under the Lease, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of Lessee the Lessees owing to 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 subject the other amounts required to Articles XX and XXI be paid pursuant to Section 14.6 of the LeaseLease 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 (B) such Lessee shall only be required to pay to the Administrative Agent 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 in accordance with Section 20.2 14.6 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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)Lease; and (iv) upon an Event of Default resulting in an acceleration of Lessee’s obligations the Lessees’ obligation to purchase the Leased Property Properties under the Lease, the amounts then due and payable by Lessee the Lessees under the Lease on a recourse basis shall include all amounts necessary to pay in full the Lease BalanceLoans, and accrued interest thereon, the Lessor’s Invested Amounts and accrued Yield thereon and all other obligations of the Lessees owing to the Agent and the Funding Parties pursuant to the Operative Documents.

Appears in 1 contract

Samples: Master Agreement (Concord Efs Inc)

Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessees and the Participants 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 Yield with respect to interest on the Rent Assignment Contributions Loans in respect of such Leased Property and Yield on the Lessor Amount due Lessor's Invested Amounts in respect of such Leased Property on each Payment Date; (ii) if the related Lessee elects the Early Termination Option, the Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the related Lessee owing to 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 the Administrative Agent 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 14.6 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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)Lease; and (iv) upon an Event of Default resulting in an acceleration of Lessee’s obligations the Lessees' obligation to purchase the Leased Property Properties under the Lease, the amounts then due and payable by Lessee the Lessees under the Lease on a recourse basis shall include all amounts necessary to pay in full the Lease Balance.Loans, and accrued interest thereon, the Lessor's Invested Amounts and accrued Yield thereon

Appears in 1 contract

Samples: Master Agreement (Discount Auto Parts Inc)

Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee and the Participants 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 Yield on with respect to interest on, and principal of, the Rent Assignment Contributions Loans in respect of such Leased Property and Yield on on, and principal of, the Lessor Amount due 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, 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, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to 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 Property, will be paid out of the LeaseRecourse Deficiency Amount, and the Lessee shall only be required to pay to the Administrative Agent 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 unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 the Lessee’s obligations 's obligation to purchase the such Leased Property under the Lease, 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 BalanceLoans in respect of such Leased Property, and 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 Funding Parties in respect of such Leased Property.

Appears in 1 contract

Samples: Master Agreement (Ruby Tuesday Inc)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee and the Participants Lessor that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessee under the Lease shall be equal to the aggregate payments due and payable as with respect to Yield on the Rent Assignment Contributions and Yield on the Lessor Lessor's Invested Amount due on each Payment Date; (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the Lease BalanceLessor's Invested Amounts, all accrued and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to the Participants Lessor 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 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 20.2 14.6 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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)Lease; and (iv) upon an Event of Default resulting in an acceleration of the Lessee’s obligations 's obligation to purchase the Leased Property under the Lease, 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 BalanceLessor's Invested Amount and accrued Yield thereon and all other obligations of the Lessee owing to the Lessor.

Appears in 1 contract

Samples: Master Agreement (Marchfirst Inc)

Amounts Due Under Lease. Anything Notwithstanding anything else herein or elsewhere to the contrary notwithstandingherein, it is the intention of Lessee and Lessor that, subject to the Participants 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 Yield on the Rent Assignment Contributions and Yield on the Lessor Amount due on each Payment DateDate with respect to Yield on, and any principal of, the Equity Investment; (ii) if Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the LeaseProperty, the Lease Balanceoutstanding principal amount of the Equity Investment, all accrued and unpaid Yield thereon, plus all costs and any Fees other amounts payable by Lessee under any Operative Document and all other obligations of Lessee owing to the Participants Lessor shall be paid in full by Lessee; (iii) if Lessee properly elects the Sale Option with respect to Remarketing Option, the Leased Property principal 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 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 20.2 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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)Obligation; and (iv) upon an Event of Default resulting in an any acceleration of the Termination Date and Lessee’s obligations obligation to purchase the Leased Property under the LeaseLease as 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 on a recourse basis shall include all amounts necessary to pay in full the Lease BalanceEquity Investment and accrued Yield thereon and all other obligations of Lessee owing to Lessor.

Appears in 1 contract

Samples: Participation Agreement (Lennox International Inc)

Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessees and the Participants 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 Yield with respect to interest on the Rent Assignment Contributions Loans in respect of such Leased Property and Yield on the Lessor Lessor's Invested Amount due in respect of such Leased Property on each Payment Date; (ii) if a Lessee elects the Early Termination Option, the Purchase Option with respect to any Leased Property or becomes obligated or otherwise elects to purchase the any Leased Property under the Lease, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of Lessee the Lessees owing to 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 subject the other amounts required to Articles XX and XXI be paid pursuant to Section 14.6 of the LeaseLease 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 (B) such Lessee shall only be required to pay to the Administrative Agent 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 in accordance with Section 20.2 14.6 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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)Lease; and (iv) upon an Event of Default resulting in an acceleration of Lessee’s obligations the Lessees' obligation to purchase the Leased Property Properties under the Lease, the amounts then due and payable by Lessee the Lessees under the Lease on a recourse basis shall include all amounts necessary to pay in full the Lease BalanceLoans, and accrued interest thereon, the Lessor's Invested Amount and accrued Yield thereon and all other obligations of the Lessees owing to the Agent and the Funding Parties pursuant to the Operative Documents.

Appears in 1 contract

Samples: Master Agreement (Concord Efs Inc)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessee, the Certificate Holders, the Owner Trustee, the Lessor and the Participants Lenders that: (i1) 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 Yield interest on the Rent Assignment Contributions Loans and Yield on the Lessor Amount due Equity Amounts on each Payment Date, subject to Section 4(c); (ii2) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the Lease, the Lease BalanceLoans, the Equity Amounts, all accrued interest, Yield and unpaid Yield thereon, any Facility Fees thereon and all other obligations of the Lessee owing to the Participants Lessor, the Certificate Holders, the Owner Trustee and the Lenders shall be paid in full by the Lessor out of funds paid to the Lessor by the Lessee; (iii3) if the Lessee properly elects the Sale Option with respect to the Leased Property and subject to Articles XX and XXI of Property, the Lease, Lessee shall only be required to pay to the Administrative Agent Participants the proceeds of the sale of the Leased Property, the Sale Option Recourse Amount with respect to the Leased Property Final Rent Payment and any amounts due pursuant to Sections 13 and 14 hereof and Section 20.2 6(d) of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor AmountProperty Balance), together with all other amounts any accrued Basic Rent and Supplemental Rent then due and payable as 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)owing; and (iv4) upon an Event of Default resulting in an acceleration of the Lessee’s obligations 's obligation to purchase the Leased Property under the Lease, 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 Property Balance., plus all other amounts then due from the Lessee to the Participants under the Operative Documents. Participation Agreement

Appears in 1 contract

Samples: Participation Agreement (Cal Dive International Inc)

Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of the Lessee and the Participants 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 Yield on with respect to interest on, and principal of, the Rent Assignment Contributions Loans in respect of such Leased Property and Yield on on, and principal of, the Lessor Amount due 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, 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, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to 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 Property, will be paid out of the LeaseRecourse Deficiency Amount, and the Lessee shall only be required to pay to the Administrative Agent 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 unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 the Lessee’s obligations 's obligation to purchase the such Leased Property under the Lease, 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 BalanceLoans in respect of such Leased Property, and 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 Funding Parties in respect 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 to the contrary notwithstanding, it is the intention of Lessee the Lessees and the Participants 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 Yield with respect to interest on the Rent Assignment Contributions B Loans and the Synthetic Lease Loans in respect of such Leased Property and Yield on the Lessor Amount due Lessors Invested Amounts in respect of such Leased Property on each Payment Date; (ii) if the related Lessee elects the Early Termination Option, the Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the related Lessee owing to 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 Property and subject to Articles XX and XXI Properties, will be paid out of the LeaseRecourse Deficiency Amount, and the related Lessee shall only be required to pay to the Administrative Agent 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 14.6 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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)Lease; and (iv) upon an Event of Default resulting in an acceleration of Lessee’s obligations the related Lessees obligation to purchase the Leased Property Properties under the Lease, the amounts then due and payable by Lessee the Lessees under the Lease on a recourse basis shall include all amounts necessary to pay in full the B Loans and the Synthetic Lease BalanceLoans, and accrued interest thereon, the Lessors Invested Amounts and accrued Yield thereon and all other obligations of the Lessees owing to the Funding Parties pursuant to the Operative Documents and the Credit Agreement.

Appears in 1 contract

Samples: Master Agreement (Cornell Companies Inc)

Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessees and the Participants 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 Yield with respect to interest on the Rent Assignment Contributions Loans in respect of such Leased Property and Yield on the Lessor Amount due Lessor's Invested Amounts in respect of such Leased Property on each Payment Date; (ii) if the related Lessee elects the Early Termination Option, the Purchase Option with respect to a Leased Property or becomes obligated or otherwise elects to purchase the such Leased Property under the Lease, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of the related Lessee owing to 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 the Administrative Agent 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 14.6 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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)Lease; and (iv) upon an Event of Default resulting in an acceleration of Lessee’s obligations the Lessees' obligation to purchase the Leased Property Properties under the Lease, the amounts then due and payable by Lessee the Lessees under the Lease on a recourse basis shall include all amounts necessary to pay in full the Lease BalanceLoans, and accrued interest thereon, the Lessor's Invested Amounts and accrued Yield thereon and all other obligations of the Lessees owing to the Funding Parties pursuant to the Operative Documents.

Appears in 1 contract

Samples: Master Agreement (Dollar Tree Stores Inc)

Amounts Due Under Lease. Anything With respect to each Leased Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessees and the Participants 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 Yield on with respect to interest on, and principal of, the Rent Assignment Contributions Loans in respect of such Leased Property and Yield on on, and principal of, the Lessor Amount due 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, 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, the Lease BalanceFunded Amounts in respect of such Leased Property, all accrued interest and unpaid Yield thereon, any Fees thereon and all other obligations of such Lessee owing to 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 Property, will be paid out of the LeaseRecourse Deficiency Amount, and such Lessee shall only be required to pay to the Administrative Agent 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 unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 the related Lessee’s obligations 's obligation to purchase the such Leased Property under the related Lease, the amounts then due and payable by such Lessee under the such Lease on a recourse basis shall include all amounts necessary to pay in full the Lease BalanceLoans in respect of such Leased Property, and 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 Funding Parties in respect of such Leased Property.

Appears in 1 contract

Samples: Master Agreement (Dollar General Corp)

Amounts Due Under Lease. Anything With respect to the Leased Property, anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee and the Participants parties hereto that: (i) on each Scheduled Payment Date, with the exception of the Accreted Amount, 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 interest accrued and payable as Yield unpaid on the Rent Assignment Contributions outstanding Loans and Yield the Return accrued and unpaid on the Lessor Amount due on each Payment DateCapital Contribution; (ii) if Lessee if, pursuant to the Lease and the Partnership Agreement, the Limited Partner elects the Early Termination Option, to exercise the Purchase Option or becomes obligated or otherwise elects and causes Lessor to purchase notify Administrative Agent of its intent to pay the Leased Property under Loan on the LeaseLease Termination Date, the amount of payments from the Limited Partner and Lessee shall equal the Lease Balance, all accrued and unpaid Yield thereon, any Fees and all other obligations of Lessee owing to the Participants shall be paid in full by Lessee; (iii) if Lessee properly elects the Sale Option with respect is subject to the Leased Property and subject to Articles XX and XXI of Remarketing Obligation under the Lease, Lessee shall only be required (x) in the case of a sale to pay to a third party where the Administrative Agent Net Sales Proceeds equal or exceed the proceeds of the sale of the Leased PropertyMaximum Lessor Risk Amount, the Sale Option Recourse Amount with respect to Deficiency plus the Leased Property and any amounts due pursuant to Section 20.2 of Net Sales Proceeds shall equal the Lease Balance, (which aggregate amounts may y) in the case of a failure of a sale to a third party to be less than consummated under Section 14.1 where all of Lessee Disposition Conditions have been satisfied, the unpaid principal of the Rent Assignment Contributions and Lessor Amount), Lease Termination Amount together with all other amounts due and payable as Supplemental Rentthe Maximum Lessor Risk Amount, but subject to shall equal the right of the parties with respect to the Gross Proceeds as set forth at Section 5.3(d)(i)Lease Balance; and (iv) upon an a Lease Event of Default resulting in an acceleration of Lessee’s obligations 's obligation to purchase the Leased Property under Section 13.1 of the Lease, the amounts then due and payable by Lessee under the Lease on a recourse basis shall include all amounts necessary to pay in full equal the Lease Balance.

Appears in 1 contract

Samples: Participation Agreement (Gtech Holdings Corp)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee Lessee, Agent Lessor and the 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 Yield on the Tranche A Basic Rent Assignment Contributions and Yield on the Lessor Amount due Tranche B Basic Rent and Tranche C Equity Basic Rent on each Payment Date; (ii) if Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property Premises under the Lease, the Lease Balance, all accrued and unpaid Yield thereon, any Fees Balance and all other obligations of Lessee owing to 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 Agent Lessor the Administrative Agent 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 unpaid principal of the Rent Assignment Contributions and Lessor AmountLease Balance), together with all other amounts due and payable as 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 obligations 's obligation to purchase the Leased Property Premises under the Lease, 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 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 else herein in this Agreement or elsewhere in any of the other Operative Documents to the contrary notwithstanding, it is the intention of the Lessee and the Participants that: Lessor that (i) the amount Lessee shall be obligated, pursuant to the terms of the Lease, to pay Rent to the Lessor as and timing of installments when due under the Lease, including payment of Basic Rent due and payable from time to time under the Lease shall be equal to the aggregate payments due and payable as Yield on the Rent Assignment Contributions and Yield on the Lessor Amount due on each Rent Payment Date; , (ii) if the Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase the Leased Property under the LeaseLease or any of the other Operative Documents, the principal amount of the Lease BalanceBalance then outstanding, all interest accrued and unpaid Yield thereon, any Fees thereon and all other obligations of the Lessee owing to the Participants Lessor under the Operative Documents, shall be paid in full by Lessee; the Lessee and (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 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 20.2 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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 the Lessee’s obligations obligation to purchase the Leased Property under the Lease, 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, accrued interest and all other obligations of the Lessee under the Operative Documents. The foregoing notwithstanding, the parties hereto acknowledge and agree that the obligations of the Lessor hereunder and under the Lease and the other Operative Documents are limited as provided in Section 18.9 of the Lease.

Appears in 1 contract

Samples: Participation Agreement (Terremark Worldwide Inc)

Amounts Due Under Lease. Anything else herein or elsewhere to the contrary notwithstanding, it is the intention of Lessee the Lessees, the Company, the Lessor and the Participants Lenders that: (i) the amount and timing of installments of Basic Rent due and payable from time to time from the Lessees under the Lease shall be equal to the aggregate payments due and payable as Yield interest on the Rent Assignment Contributions and Yield Loans plus a yield on the Lessor Amount due on each Basic Rent Payment Date; (ii) if a Lessee elects the Early Termination Option, the Purchase Option or becomes obligated or otherwise elects to purchase any of the Leased Property Properties under the Lease, the Lease BalanceLoans, the Lessor Amount, all accrued interest, Yield and unpaid Yield thereon, any Fees fees thereon and all other obligations of Lessee the Lessees with respect to such Property owing to the Participants Lessor and the Lenders shall be paid in full by the Lessee; (iii) if any 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 the Administrative Agent Lessor the proceeds amounts required pursuant to Article XX of the sale of the Leased Property, the Sale Option Recourse Amount with respect to the Leased Property Master Lease and any amounts due pursuant to Section 20.2 of the Lease (which aggregate amounts may be less than the unpaid principal of the Rent Assignment Contributions and Lessor Amount), together with all other amounts due and payable as 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)Article XIII hereof; and (iv) upon an Event of Default resulting in an acceleration of any Lessee’s obligations 's obligation to purchase the Leased Property Properties under the Lease, 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 all other amounts then due from the Lessee to the Participants under the Operative Documents.

Appears in 1 contract

Samples: Participation Agreement (Multicare Companies Inc)

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