APPLICATION OF PAYMENTS DURING EXISTENCE OF DEFAULT. Any amount described in this Section 11 that is payable or creditable to, or retainable by, Lessee shall not be paid or credited to, or retained by, Lessee if at the time such payment, credit or retention would otherwise occur a Special Default shall have occurred and be continuing, but shall instead be held by or paid over to Lessor (or to Mortgagee so long as Mortgagee has not given notice to Lessee that the Lien of the Trust Indenture has been duly discharged) as security for the obligations of Lessee under this Lease and shall be invested pursuant to Section 4.4 hereof unless and until Lessor shall have demanded liquidated damages pursuant to Section 15.1.3 or 15.1.4 and such amount is applied, at the option of Lessor, or upon the written request of Lessee to Lessor, from time to time during the continuance of a Lease Event of Default, to Lessee's obligations under this Lease and the other Lessee Operative Agreements as and when due, it being understood that any such application shall be made to such obligations of Lessee as Lessor may determine in its sole discretion. At such time as there shall not be continuing any Special Default, such amount shall be paid to Lessee to the extent not previously applied in accordance with this Section 11.5.
APPLICATION OF PAYMENTS DURING EXISTENCE OF DEFAULT. Any amount referred to in this Section 10 which is payable or creditable to or retainable by Lessee shall not be paid or credited to or retained by Lessee if, at the time of such payment, credit or retention, a Lease Event of Default or Lease Default shall have occurred and be continuing hereunder but shall be paid to and held by Indenture Trustee and applied by it as provided in the Trust Indenture, or, if the Trust Indenture is no longer in effect, held by Lessor as security for the obligations of Lessee under this Lease and applied against Lessee's obligations hereunder as and when due; at such time as there shall not be continuing any such Lease Event of Default or Lease Default, or at such earlier time as Lessee shall have paid in full all Rent and other amounts due and payable hereunder and under the other Operative Agreements by Lessee, any remaining balance of such amount shall be paid to Lessee to the extent not previously applied in accordance with the preceding clause of this sentence.
APPLICATION OF PAYMENTS DURING EXISTENCE OF DEFAULT. Any amount referred to in this Section 10 which is payable to or retainable by Lessee shall not be paid to or retained by Lessee if at the time of such payment or retention a Default or an Event of Default shall have occurred and be continuing or if the Airline Services Agreement shall have been terminated or canceled or shall have been terminated in accordance with its terms, but shall be held by Lessor and applied in accordance with Section 28 hereof. At such time as there shall not be continuing any such Default or Event of Default and the Airline Services Agreement shall not have been terminated or canceled or shall not have terminated in accordance with its terms, such amount shall be paid to Lessee to the extent not previously applied in accordance with the preceding sentence.
APPLICATION OF PAYMENTS DURING EXISTENCE OF DEFAULT. Any amount referred to herein that is payable to Lessee shall not be paid to Lessee, or if it has been previously paid directly to Lessee, shall not be retained by Lessee, if at the time of such payment a Default or Event of Default shall have occurred and be continuing, but shall be paid to and held by Lessor as security for and may be applied to the obligations of Lessee under this Lease and, at such time as Lessor shall receive evidence in form and substance satisfactory to it that there is not continuing any such Default or Event of Default, all such amounts in excess of amounts so paid on obligations of Lessee shall be paid to Lessee.
APPLICATION OF PAYMENTS DURING EXISTENCE OF DEFAULT. Any amount referred to in this Section 10 which is payable or creditable to or retainable by Lessee shall not be paid or credited to or retained by Lessee if, at the time of such payment, credit or retention, a Lease Default or Lease Event of Default shall have occurred and be continuing hereunder but shall be paid to and held by Lessor as security for the obligations of Lessee under this Lease and, if Lessor declares this Lease to be in default pursuant to Section 15 or it shall otherwise become in default in accordance with its terms, applied against Lessee's obligations hereunder as and when due and at such time as there shall not be continuing any such Lease Default or Lease Event of Default, such amount shall be paid to Lessee to the extent not previously applied in accordance with the preceding sentence.
APPLICATION OF PAYMENTS DURING EXISTENCE OF DEFAULT. Any amount referred to in this Section 10 which is payable to or retainable by Lessee shall not be paid to or retained by Lessee if at the time of such payment or retention a Default shall have occurred and be continuing, but shall be held by or paid over to Lessor, as security for the obligations of Lessee under this Lease Agreement and the other Operative Documents to be held and applied pursuant to Section 13 and applied against Lessee's obligations hereunder as and when due. At such time as there shall not be continuing any Default, such amount shall be paid to Lessee to the extent not applied in accordance with the preceding sentence.
APPLICATION OF PAYMENTS DURING EXISTENCE OF DEFAULT. Any amount described in this Section 9 that is payable or creditable to, or retainable by, Lessee shall not be paid or credited to, or retained by, Lessee if at the time such payment, credit or retention would otherwise occur a Default or an Event of Default shall have occurred and be continuing, but shall instead be held by or paid over to Lessor as security for the obligations of Lessee under this Lease and the other Operative Agreements and applied to Lessee's obligations under this Lease and the other Operative Agreements as and when due. At such time as there shall not be continuing any Default or any Event of Default, such amount shall be paid to Lessee to the extent not previously applied in accordance with this Section 9.4.
APPLICATION OF PAYMENTS DURING EXISTENCE OF DEFAULT. Any amount described in this Section 3.3(k) that is payable or creditable to, or retainable by, the Borrower shall not be paid or credited to, or retained by, the Borrower if at the time such payment, credit or retention would otherwise occur a Payment Default, a Bankruptcy Default or any Event of Default shall have occurred and be continuing, but shall instead be held by or paid over to the Security Trustee (so long as the Lien of this Agreement has not been duly discharged) as security for the obligations of the Borrower under this Agreement and shall be invested and applied pursuant to Section 10.
APPLICATION OF PAYMENTS DURING EXISTENCE OF DEFAULT. Any amount referred to in this Section 14 or in Section 13 which is payable to the Lessee shall not be paid to the Lessee, or, if it has been previously paid directly to the Lessee, shall be held in trust by the Lessee and shall be promptly paid over to the Lessor Trustee, if at the time of such payment a Default or Event of Default has occurred and is continuing, and held by the Lessor Trustee as security for the obligations of the Lessee under this Lease and applied against the Lessee's obligations hereunder as and when due. Once no Default or Event of Default is continuing, such amount, to the extent not theretofore applied to the Lessee's obligations hereunder, shall be paid to the Lessee.
APPLICATION OF PAYMENTS DURING EXISTENCE OF DEFAULT. Any amount described in this Section 10 that is payable or creditable to, or retainable by, Lessee shall not be paid or credited to, or retained by, Lessee if at the time such payment, credit or retention would otherwise occur a Payment Default, a Bankruptcy Default or any Event of Default shall have occurred and be continuing, but shall instead be held by or paid over to Lessor, as security for the obligations of Lessee under this Lease and shall be invested and applied pursuant to Section 17.
