Application of Payments During Existence of Event of Default. Any amount referred to in subsection (b), subsection (c) or subsection (d) which is payable to Lessee or its designee shall not be paid to Lessee or its designee (or, if it has been previously paid directly to Lessee, shall not be retained by Lessee), if at the time of such payment an Event of Default shall have occurred and be continuing, but shall be paid to and held by Lessor pursuant to Section 22 as security for the obligations of Lessee under this Lease, and at such time as there shall not be continuing any such Event of Default such amount shall be paid to Lessee or its designee.
Appears in 4 contracts
Samples: A320 Family Aircraft Purchase Agreement (American Airlines, Inc.), Purchase Agreement (American Airlines, Inc.), A320 Family Aircraft Purchase Agreement (Amr Corp)
