Common use of APPLICATION OF PAYMENTS DURING DEFAULT Clause in Contracts

APPLICATION OF PAYMENTS DURING DEFAULT. Any amount described in this ss. 10 that is payable or creditable to, or retainable by, Lessee shall not be paid or credited to, or retained by, Lessee if a Special Default or Event of Default exists when such payment, credit, or retention would otherwise occur, but shall instead be held by or paid over to Lessor as security for Lessee's obligations under this Lease and the other Lessee Operative Agreements, and shall be invested pursuant to ss. 4.4 hereof, unless and until such amount is applied, at the option of Lessor, or upon Lessee's written request to Lessor, from time to time during the existence of an Event of Default, to Lessee's obligations under this Lease as and when due (any such application shall be made to such Lessee obligations as Lessor determines in its sole discretion). If and when no Special Default and no Event of Default exists, such amount shall be paid to Lessee to the extent not previously applied in accordance with this ss. 10.9.

APPLICATION OF PAYMENTS DURING DEFAULT. Any amount described in this ss. (S) 10 that is payable or creditable to, or retainable by, Lessee shall not be paid or credited to, or retained by, Lessee if a Special Default or Event of Default exists when such payment, credit, or retention would otherwise occur, but shall instead be held by or paid over to Lessor (or to Mortgagee if Mortgagee has not notified Lessee that the Mortgage has been discharged) as security for Lessee's obligations under this Lease and the other Lessee Operative Agreements, and shall be invested pursuant to ss. (S) 4.4 hereof, unless and until such amount is applied, at the option of Lessor, or upon Lessee's written request to Lessor, from time to time during the existence of an a Lease Event of Default, to Lessee's obligations under this Lease as and when due (any such application shall be made to such Lessee obligations as Lessor determines in its sole discretion). If and when no Special Default and no Event of Default exists, such amount shall be paid to Lessee to the extent not previously applied in accordance with this ss. (S) 10.9.

APPLICATION OF PAYMENTS DURING DEFAULT. Any amount described in this ss. 10 (S) 11 that is payable or creditable to, or retainable by, Lessee shall not be paid or credited to, or retained by, Lessee if a Special Default or Event of Default exists when such payment, credit, or retention would otherwise occur, but shall instead be held by or paid over to Lessor (or to if Mortgagee has not notified Lessee that the Lien of the Mortgage has been discharged) as security for Lessee's obligations under this Lease, and shall be invested pursuant to (S) 4.4 unless and until such amount is applied, at Lessor's option, from time to time during the existence of a Lease Event of Default, to Lessee's obligations under this Lease and the other Lessee Operative Agreements, and shall be invested pursuant to ss. 4.4 hereof, unless and until such amount is applied, at the option of Lessor, or upon Lessee's written request to Lessor, from time to time during the existence of an Event of Default, to Lessee's obligations under this Lease Agreements as and when due (any such application shall to be made to such obligations of Lessee obligations as Lessor determines in its sole discretion). If and when no Special Default and no Event of Default exists, such amount shall be paid to Lessee to the extent not previously applied in accordance with this ss. 10.9(S) 11.5.