Common use of Application of Payments During Existence of Certain Indenture Clause in Contracts

Application of Payments During Existence of Certain Indenture. Defaults and Events of Default. Any amount referred to in this Section 5.01 ------------------------------ which is payable to or retainable by Owner (or any Permitted Lessee) shall not be paid to or retained by Owner (or any Permitted Lessee) if at the time of such payment or retention an Indenture Default of the type described in Section 8.01(a)(i), 8.01(e) or 8.01(f) or any Indenture Event of Default shall have occurred and be continuing, but shall be held by or paid over to Indenture Trustee as security for the obligations of Owner (or such Permitted Lessee) under this Agreement and applied against Owner's obligations hereunder as and when due. At such time as there shall not be continuing any such Indenture Event of Default, such amount shall be paid to Owner to the extent not previously applied in accordance with the preceding sentence.

Application of Payments During Existence of Certain Indenture. Defaults and Events of Default. Any amount referred to in this Section 5.01 ------------------------------ 4.03 which is payable ----------------- to or retainable by Owner (or any Permitted Lessee) shall not be paid to or retained by Owner (or any Permitted Lessee) if at the time of such payment or retention an Indenture Default of the type described in Section 8.01(a)(i), 8.01(e) or 8.01(f) or any Indenture Event of Default shall have occurred and be continuing, but shall be held by or paid over to Indenture Trustee as security for the obligations of Owner (or such Permitted Lessee) under this Agreement and applied against Owner's obligations hereunder as and when due. At such time as there shall not be continuing any such Indenture Default or Indenture Event of Default, such amount shall be paid to Owner to the extent not previously applied in accordance with the preceding sentence.

Application of Payments During Existence of Certain Indenture. Defaults and Events of Default. Any amount referred to in this Section 5.01 ------------------------------ 4.03 which is payable ----------------- to or retainable by Owner (or any Permitted Lessee) shall not be paid to or retained by Owner (or any Permitted Lessee) if at the time of such payment or retention an Indenture Default of the type described in Section 8.01(a)(i), 8.01(e) or 8.01(f) or any Indenture Event of Default shall have occurred and be continuing, but shall be held by or paid over to Indenture Trustee as security for the obligations of Owner (or such Permitted Lessee) under this Agreement and applied against Owner's obligations hereunder as and when due. At such time as there shall not be continuing any such Indenture Default or Indenture Event of Default, such amount shall be paid to Owner to the extent not previously applied in accordance with the preceding sentence.. [Trust Indenture and Mortgage ([_________])]

Application of Payments During Existence of Certain Indenture. Defaults and Events of Default. Any amount referred to in this Section 5.01 ------------------------------ which is payable to or retainable by Owner (or any Permitted Lessee) shall not be paid to or retained by Owner (or any Permitted Lessee) if at the time of such payment or retention an Indenture Default of the type described in Section 8.01(a)(i), 8.01(e) or 8.01(f) or any Indenture Event of Default shall have occurred and be continuing, but shall be held by or paid over to Indenture Trustee as security for the obligations of Owner (or such Permitted Lessee) under this Agreement and applied against Owner's obligations hereunder as and when due. At such time as there shall not be continuing [Trust Indenture and Mortgage ([_________])] any such Indenture Event of Default, such amount shall be paid to Owner to the extent not previously applied in accordance with the preceding sentence.