Common use of Application of Payments on an Event of Loss Clause in Contracts

Application of Payments on an Event of Loss. Any payments received at any time by the Lessor or the Lessee (other than insurance placed by the Owner Trustee or the Owner Participant pursuant to Section 10(b)) from any Governmental Authority, insurer or other Person (except the Lessee) as a result of the occurrence of an Event of Loss (without deduction of any amount which was set off or deducted therefrom as a result of a claim by any Person against the Lessee) shall be applied as follows: (i) all such payments shall be promptly paid to the Lessor for application pursuant to the following provisions of this Section 9(g), except that the Lessee may retain any amounts that would at the time be payable to the Lessee as reimbursement under the provisions of clause (ii) below; (ii) so much of such payments as shall not exceed the amount required to be paid by the Lessee pursuant to Section 9(c) shall be applied in reduction of the Lessee’s obligation to pay such amount if not already paid by the Lessee or, if already paid by the Lessee, shall be applied to reimburse the Lessee for its payment of such amount; and (iii) the balance, if any, of such payments in the case of payments from insurance carried by or on- behalf of the Lessee shall be paid to the Lessee or in the case of any other payments shall be divided between the Lessor and the Lessee as their respective interests may appear.

Application of Payments on an Event of Loss. Any payments received receivable (without regard to any right of setoff or other similar right of any Person against the Lessee) at any time by the Lessor or the Lessee (other than insurance placed by the Owner Trustee or the Owner Participant pursuant to Section 10(b)) from any Governmental Authoritygovernmental authority, insurer or other Person (except the Lessee) as a result of the occurrence of an Event of Loss (without deduction of any amount which was set off or deducted therefrom as a result of a claim by any Person against the Lessee) shall be applied as follows: (i) all such payments received at any time by the Lessee shall be promptly paid to the Lessor for application pursuant to the following provisions of this Section 9(g), except that the Lessee may retain any amounts that would at the time be payable to the Lessee as reimbursement under the provisions of clause (ii) below; (ii) so much of such payments as shall not exceed the amount required to be paid by the Lessee pursuant to Section 9(c) (ignoring, for this purpose, clause (ii) of the first sentence thereof) shall be applied in reduction of the Lessee’s 's obligation to pay such amount if not already paid by the Lessee or, if already paid by the Lessee, shall be applied to reimburse the Lessee for its payment of such amount; and (iii) the balance, if any, of such payments in the case of payments from insurance carried by or on- behalf of the Lessee shall be paid to the Lessee or in the case of any other payments remaining thereafter shall be divided between the Lessor and the Lessee as their respective interests may appear.

Application of Payments on an Event of Loss. Any My payments received at any time by the Lessor or the Lessee (other than insurance placed by the Owner Trustee or the Owner Participant pursuant to Section 10(b)) from any Governmental Authority, insurer or other Person (except the Lessee) as a result of the occurrence of an Event of Loss (without deduction of any amount which was set off or deducted therefrom as a result of a claim by any Person against the Lessee) shall be applied as follows: (i) all such payments shall be promptly paid to the Lessor for application pursuant to the following provisions of this Section 9(g), except that the Lessee may retain any amounts that would at the time be payable to the Lessee as reimbursement under the provisions of clause (ii) below; (ii) so much of such payments as shall not exceed the amount required to be paid by the Lessee pursuant to Section 9(c) (ignoring, for this purpose, clause (ii) of the first sentence thereof) shall be applied in reduction of the Lessee’s 's obligation to pay 6091. BXXXXXX. 1106.47:1 such amount if not already paid by the Lessee or, if already paid by the Lessee, shall be applied to reimburse the Lessee for its payment of such amount; and (iii) the balance, if any, of such payments in the case of payments from insurance carried by or on- behalf of the Lessee shall be paid to the Lessee or in the case of any other payments remaining thereafter shall be divided between bet'4een the Lessor and the Lessee Lessee, as their respective interests may appear.

Application of Payments on an Event of Loss. Any Except as otherwise provided in Section 9(c) hereof and subject to the provisions of the Security Deposit Agreement, payments received at any time by the Lessor or the Lessee (other than insurance placed by the Owner Trustee or the Owner Participant pursuant to Section 10(b)) from any Governmental Authority, insurer or other Person (except other than proceeds of insurance carried by or on behalf of the LesseeLessor pursuant to subsection 6.6(i)(iv) of the Participation Agreement) as a result of the occurrence of an Event of Loss (without deduction of any amount which was set off or deducted therefrom as a result of a claim by any Person against the Lessee) shall be promptly paid to the Lessor (or the Security Agent so long as the Security Deposit Agreement is in effect) and applied as follows: (i) all such payments shall be promptly paid to the Lessor for application pursuant to the following provisions of this Section 9(g), except that the Lessee may retain any amounts that would at the time be payable to the Lessee as reimbursement under the provisions of clause (ii) below; (ii) so much of such payments as shall not exceed the amount required to be paid by the Lessee pursuant to Section 9(c) hereof shall be applied in reduction of the Lessee’s 's obligation to pay such amount if the same has not already been paid by the Lessee or, if the same has already been paid by the Lessee, shall be applied to reimburse the Lessee for its payment of such amount; (ii) the balance, if any, of such payments from an insurer shall be paid over to the Lessee; and (iii) the balance, if any, of such payments in the case of payments other than from insurance carried by or on- behalf of the Lessee an insurer shall be paid to the Lessee or in the case of any other payments shall be divided between the Lessor and the Lessee as their respective interests in the Project may appear.

Application of Payments on an Event of Loss. Any payments received receivable (without regard to any right of setoff or other similar right of any Person against the Lessee) at any time by the Lessor or the Lessee (other than insurance placed by the Owner Trustee or the Owner Participant pursuant to Section 10(b)) from any Governmental Authority, insurer or other Person (except the Lessee, the Owner Trustee or the Owner Participant) as a result of the occurrence of an Event of Loss (without deduction of any amount which was set off or deducted therefrom as a result of a claim by any Person against the Lessee) shall be applied as follows: (i) all such payments received at any time by the Lessee shall be promptly paid to the Lessor for application pursuant to the following provisions of this Section 9(g), except that the Lessee may retain any amounts that would at the time be payable to the Lessee as reimbursement under the provisions of clause (ii) below; (ii) so much of such payments as shall not exceed the amount required to be paid by the Lessee pursuant to Section 9(c) (ignoring, for this purpose, clause (ii) of the first sentence thereof) shall be applied in reduction of the Lessee’s 's obligation to pay such amount if not already paid by the Lessee or, if already paid by the Lessee, shall be applied to reimburse the Lessee for its payment of such amount; and (iii) the balance, if any, of such payments in the case of payments from insurance carried by or on- behalf of the Lessee shall be paid to the Lessee or in the case of any other payments remaining thereafter shall be divided between the Lessor and the Lessee as their respective interests may appear.