Application of Payments upon an Event of Loss. Subject to the --------------------------------------------- provisions of Section 12(d), and notwithstanding any rights of Lessor as owner of the Transponders, any payments received at any time by Lessor from any Governmental Body or other Person as a result of the occurrence of an Event of Loss with respect to a Transponder (including proceeds with respect to such Transponder from insurance, if any, but excluding proceeds from Additional Insurance with respect to such Transponder carried by Lessor, Owner Participant or Indenture Trustee) shall be applied as follows:
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Samples: Lease Agreement (Magellan International Inc), Lease Agreement (Magellan International Inc), Lease Agreement (Magellan International Inc)
Application of Payments upon an Event of Loss. Subject to the --------------------------------------------- provisions of Section 12(d), and notwithstanding any rights of Lessor as owner of the Transponders, any payments received at any time by Lessor from any Governmental Body or other Person as a result of the occurrence of an Event of Loss with respect to a Transponder (including proceeds with respect to such Transponder from insurance, if any, but excluding proceeds from Additional Insurance with respect to such Transponder carried by Lessor, Owner Participant or Indenture TrusteeAgent) shall be applied as follows:
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