Application of Payments During Existence of Event of Default. Any amount referred to in Section 7.05 that is payable to or retainable by Company shall not be paid to or retained by Company if at the time of such payment or retention an Event of Default or Payment Default has occurred and is continuing, but shall be held by or paid over to Loan Trustee as security for the obligations of Company under this Indenture and the Participation Agreement. When any such Event of Default or Payment Default ceases, such amount shall be paid to Company.
Appears in 23 contracts
Samples: Indenture and Security Agreement (Jetblue Airways Corp), Indenture and Security Agreement (Jetblue Airways Corp), Indenture and Security Agreement (Alaska Air Group, Inc.)
Application of Payments During Existence of Event of Default. Any amount referred to in Section 7.05 that is payable to or retainable by the Company shall not be paid to or retained by the Company if at the time of such payment or retention an Event of Default or Payment Default has shall have occurred and is be continuing, but shall be held by or paid over to the Loan Trustee as security for the obligations of the Company under this Indenture and the Participation Agreement. When Subject to Section 3.03, at such time as there shall not be continuing any such Event of Default or Payment Default ceasesDefault, such amount shall be paid to the Company.
Appears in 18 contracts
Samples: Note Purchase Agreement (American Airlines Inc), Note Purchase Agreement (American Airlines Inc), Note Purchase Agreement (American Airlines Inc)
Application of Payments During Existence of Event of Default. Any amount referred to in Section 7.05 that is payable to or retainable by the Company shall not be paid to or retained by the Company if at the time of such payment or retention an Event of Default or Payment Default has occurred and is continuing, but shall be held by or paid over to the Loan Trustee as security for the obligations of the Company under this Indenture and the Participation Agreement. When any such Event of Default or Payment Default ceases, such amount shall be paid to the Company.
Appears in 3 contracts
Samples: Indenture and Security Agreement (Spirit Airlines, Inc.), Indenture and Security Agreement (Spirit Airlines, Inc.), Indenture and Security Agreement (Spirit Airlines, Inc.)
Application of Payments During Existence of Event of Default. Any amount referred to in Section Section 7.05 that is payable to or retainable by Company shall not be paid to or retained by Company if at the time of such payment or retention an Event of Default or Payment Default has occurred and is continuing, but shall be held by or paid over to Loan Trustee as security for the obligations of Company under this Indenture and the Participation Agreement. When any such Event of Default or Payment Default ceases, such amount shall be paid to Company.
Appears in 2 contracts
Samples: Indenture and Security Agreement (Fedex Corp), Indenture and Security Agreement (Fedex Corp)
Application of Payments During Existence of Event of Default. Any amount referred to in Section 7.05 that is payable to or retainable by the Company shall not be paid to or retained by the Company if at the time of such payment or retention an Event of Default or Payment Default has shall have occurred and is be continuing, but shall be held by or paid over to Loan Trustee the Security Agent as security for the obligations of the Company under this Indenture Aircraft Security Agreement and the Participation AgreementIndenture. When At such time as there shall not be continuing any such Event of Default or Payment Default ceasesDefault, such amount shall be paid to the Company.
Appears in 1 contract
Samples: Aircraft Security Agreement (American Airlines Inc)
