Application of Total Loss Proceeds Sample Clauses

Application of Total Loss Proceeds. All Net Total Loss Proceeds and Requisition Compensation received by the Lessor shall be retained in full by the Lessor and shall be applied as follows: FIRST: in retention by the Lessor of an amount equal to nought point nought one per cent. (0.01%) of the Net Total Loss Proceeds; SECOND: in payment to the Lessor of amounts equal to all or any part of the Termination Amount as at the date of the receipt by the Lessor of the Net Total Loss Proceeds which have not, on or before the date of application of the Net Total Loss Proceeds, been paid to the Lessor by or on behalf of the Lessee; THIRD: in or towards settlement of any other amounts then due and payable but unpaid by the Lessee to the Lessor under the Transaction Documents and any amounts then due and payable but unpaid by the Lessee to the Lessor under the Sister Ship Transaction Documents; and FOURTH: the remainder in payment to the Lessee by way of rebate of Rental.
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Application of Total Loss Proceeds. (a) Subject to Clause 4.7 (SUBSTITUTION OF AIRCRAFT), if any Total Loss Proceeds in respect of a Total Loss of an Aircraft are received by the Security Trustee prior to the occurrence of a Termination Event such Total Loss Proceeds, together with such amount of interest as may have accrued thereon, shall be applied promptly following such receipt in the following order: (i) in reimbursement of the Finance Parties and/or the Export Credit Agencies of any and all Expenses due and payable to any of the Finance Parties pursuant to any of the Transaction Documents relating to the Loan for such Aircraft in connection with the collection of such Total Loss Proceeds; (ii) in payment of an amount of up to the total amount of interest then due in respect of the Loan relating to such Aircraft to each of the National Agents in the proportions specified in the Loan Supplement relating to the relevant Aircraft for application by each National Agent in or towards payment of interest outstanding to the relevant Lenders in respect of the Loan relating to such Aircraft; (iii) in payment of an amount of up to the total amount of principal then due outstanding in respect of the Loan relating to such Aircraft to each of the National Agents in the proportions specified in the Loan Supplement relating to the relevant Aircraft for application by each National Agent in or towards payment of principal outstanding to the relevant Lenders in respect of the Loan relating to such Aircraft; (iv) in payment to each of the Representatives and each of the National Agents on behalf of the Lenders on a pro rata and pari passu basis in or towards settlement of the ECA Breakage Costs; and (v) any balance shall be paid to the relevant Export Lessee. (b) If the amount of Total Loss Proceeds to be applied in or towards payment of sums due pursuant to Clause 12.4(a) (ii) - (iv) above is insufficient to pay all such sums in full owing in each of sub-clauses 12.4(a) (ii) - (iv), as the case may be, then the amount so available shall be paid to each party entitled to receive such sums pursuant to each sub-clause on a pari passu basis and pro tanto to its respective interest in the total amount due and payable pursuant to each sub-clause, as the case may be. (c) If the Total Loss Proceeds are received after the occurrence of a Termination Event, the Total Loss Proceeds, together with such amount of interest as may have accrued thereon shall (provided no such Termination Event is continuing) be applied...
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Application of Total Loss Proceeds. Subject to the terms of the Deed of Proceeds and Priorities, all moneys received by the Lessor from insurers in respect of a Total Loss and all Requisition Compensation received by the Lessor shall be applied by the Lessor, taking into account the provisions of clause 23 as follows: 10.2.1 first, in retention by the Lessor of an amount equal to one per cent (1%) of the amount by which the Total Loss Proceeds exceed the applicable Termination Rent; 10.2.2 secondly, in or towards retention by the Lessor of an amount equal to the Termination Payment and any interest accrued in respect thereof; 10.2.3 thirdly, in or towards settlement of any other amounts owing by PPC to the Lessor under any Lease Document (including any interest due in respect thereof) including, but without limitation, Broken Funding Costs; 10.2.4 fourthly, if a Termination Event has occurred, in retention by the Lessor of any amounts in the reasonable opinion of the Lessor contingently due under this Agreement or any of the other Lease Documents, such amounts to be held by the Lessor on an interest bearing suspense account and applied by the Lessor against amounts becoming actually due to the Lessor on or prior to the Final Date, with any balance remaining on the day following the Final Date being applied in accordance with clause 10.2.5; and 10.2.5 fifthly, any balance remaining shall be paid to PPC by way of rebate of Rent, Provided that, if as a consequence of the application of the Total Loss Proceeds pursuant to clause 11 of the Deed of Proceeds and Priorities the Lessor receives, under such clause, less than the amount referred to in clause 10.2.1 above, PPC shall, on demand, pay to the Lessor an amount equal to such shortfall plus interest thereon at the Default Rate from and including the date of receipt of the Total Loss Proceeds by the Lessor (or the General Security Trustee, as the case may be) to but excluding the date of payment of that shortfall by PPC to the Lessor.
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Application of Total Loss Proceeds. All moneys received by the Lessor from insurers in respect of a Total Loss and all Requisition Compensation received by the Lessor shall be applied by the Lessor as follows: (a) firstly, in retention by the Lessor of an amount equal to any expenses, taxes or duties incurred by the Lessor in connection with the collection of such proceeds; (b) secondly, in retention by the Lessor of an amount equal to half of one per cent. (0.5%) of the amount by which the Total Loss Proceeds (after deducting the amount referred to in paragraph (a) above) exceed the Termination Payment; (c) thirdly, any balance remaining shall be paid to the Lessee by way of rebate of Rent.
Sample 1
Application of Total Loss Proceeds. All moneys received by the Lessor from insurers in respect of a Total Loss and all Requisition Compensation received by the Lessor shall be applied by the Lessor as follows: (a) first, in retention by the Lessor of an amount equal to one per cent. (1.0%) of the amount by which the Total Loss Proceeds exceed the applicable Termination Rent; (b) secondly, any balance remaining shall be paid to the Lessee by way of rebate of Rent.
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Application of Total Loss Proceeds. The proceeds of any policy of Insurance shall be applied in accordance with the provisions of this Agreement.
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Application of Total Loss Proceeds. (a) If any Total Loss Proceeds in respect of a Total Loss of an Aircraft are received prior to the occurrence of an Acceleration Event and such Aircraft has been substituted in accordance with the provisions of Clause 4.7 (Substitution of
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Related to Application of Total Loss Proceeds

  • Application of Net Proceeds The Company shall apply the net proceeds from the Offering received by it in a manner consistent with the application thereof described under the caption “Use of Proceeds” in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

  • Application of Net Liquidation Proceeds For all purposes under this agreement, Net Liquidation Proceeds received from a Servicer shall be allocated first to accrued and unpaid interest on the related Mortgage Loan and then to the unpaid principal balance thereof.

  • Application of Collateral Proceeds The proceeds and/or avails of the Collateral, or any part thereof, and the proceeds and the avails of any remedy hereunder (as well as any other amounts of any kind held by Lender, at the time of or received by Lender after the occurrence of an Event of Default hereunder) shall be paid to and applied as follows: (a) First, to the payment of out-of-pocket costs and expenses, including all amounts expended to preserve the value of the Collateral, of foreclosure or suit, if any, and of such sale and the exercise of any other rights or remedies, and of all proper fees, expenses, liability and advances, including reasonable legal expenses and attorneys’ fees, incurred or made hereunder by Lender, including, without limitation, Lender’s Expenses; (b) Second, to the payment to Lender of the amount then owing or unpaid on the Loans for any accrued and unpaid interest, the amounts which would have otherwise come due under Section 2.3(b)(ii), if the Loans had been voluntarily prepaid, the principal balance of the Loans, and all other Obligations with respect to the Loans (provided, however, if such proceeds shall be insufficient to pay in full the whole amount so due, owing or unpaid upon the Loans, then to the unpaid interest thereon, then to the amounts which would have otherwise come due under Section 2.3(b)(ii), if the Loans had been voluntarily prepaid, then to the principal balance of the Loans, and then to the payment of other amounts then payable to Lender under any of the Loan Documents); and (c) Third, to the payment of the surplus, if any, to Borrower, its successors and assigns, or to the Person lawfully entitled to receive the same.

  • Application of Insurance Proceeds Grantor shall promptly notify Lender of any loss or damage to the Collateral. Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty. All proceeds of any insurance on the Collateral, including accrued proceeds thereon, shall be held by Lender as part of the Collateral. If Lender consents to repair or replacement of the damaged or destroyed Collateral, Lender shall, upon satisfactory proof of expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration. If Lender does not consent to repair or replacement of the Collateral, Lender shall retain a sufficient amount of the proceeds to pay all of the Indebtedness, and shall pay the balance to Grantor. Any proceeds which have not been disbursed within six (6) months after their receipt and which Grantor has not committed to the repair or restoration of the Collateral shall be used to prepay the Indebtedness.

  • Distribution of Collateral Proceeds In the event that, following the occurrence or during the continuance of any Default or Event of Default, the Administrative Agent or any Lender, as the case may be, receives any monies in connection with the enforcement of any of the Security Documents, or otherwise with respect to the realization upon any of the Collateral, such monies shall be distributed for application as follows: (a) First, to the payment of, or (as the case may be) the reimbursement of the Administrative Agent, in its capacity as such, for or in respect of all reasonable costs, expenses, disbursements and losses which shall have been incurred or sustained by the Administrative Agent in connection with the collection of such monies by the Administrative Agent, for the exercise, protection or enforcement by the Administrative Agent of all or any of the rights, remedies, powers and privileges of the Administrative Agent under this Credit Agreement or any of the other Loan Documents or in respect of the Collateral or in support of any provision of adequate indemnity to the Administrative Agent against any taxes or liens which by law shall have, or may have, priority over the rights of the Administrative Agent to such monies; (b) Second, to all other Obligations in such order or preference as the Required Lenders may determine; provided, however, that (i) distributions shall be made (A) pari passu among Obligations with respect to the Administrative Agent’s Fee and all other Obligations and (B) with respect to each type of Obligation owing to the Lenders, such as interest, principal, fees and expenses, among the Lenders pro rata across all Tranches and (ii) the Administrative Agent may in its discretion make proper allowance to take into account any Obligations not then due and payable; (c) Third, upon payment and satisfaction in full in cash or other provisions for payment in full satisfactory to the Lenders and the Administrative Agent of all of the Obligations, to the payment of any obligations required to be paid pursuant to §9-615 of the UCC of the State of New York; and (d) Fourth, the excess, if any, shall be returned to the Borrower or to such other Persons as are entitled thereto.

  • Application of Proceeds Subject to the terms of the First Lien Intercreditor Agreement and the Second Lien Intercreditor Agreement, in each case, if executed, any amount received by the Administrative Agent or the Collateral Agent from any Credit Party (or from proceeds of any Collateral) following any acceleration of the Obligations under this Agreement or any Event of Default with respect to the Borrower under Section 11.4 shall be applied: (i) first, to the payment of all reasonable and documented costs and expenses incurred by the Administrative Agent or the Collateral Agent in connection with any collection or sale of the Collateral or otherwise in connection with any Credit Document, including all court costs and the reasonable fees and expenses of its agents and legal counsel, the repayment of all advances made by the Administrative Agent or the Collateral Agent hereunder or under any other Credit Document on behalf of any Credit Party and any other reasonable and documented costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Credit Document to the extent reimbursable hereunder or thereunder; (ii) second, to the Secured Parties, an amount (x) equal to all Obligations owing to them on the date of any distribution and (y) sufficient to Cash Collateralize all Letters of Credit Outstanding on the date of any distribution, and, if such moneys shall be insufficient to pay such amounts in full and Cash Collateralize all Letters of Credit Outstanding, then ratably (without priority of any one over any other) to such Secured Parties in proportion to the unpaid amounts thereof and to Cash Collateralize the Letters of Credit Outstanding; and (iii) third, any surplus then remaining shall be paid to the applicable Credit Parties or their successors or assigns or to whomsoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct; provided that any amount applied to Cash Collateralize any Letters of Credit Outstanding that has not been applied to reimburse the Borrower for Unpaid Drawings under the applicable Letters of Credit at the time of expiration of all such Letters of Credit shall be applied by the Administrative Agent in the order specified in clauses (i) through (iii) above. Notwithstanding the foregoing, amounts received from any Guarantor that is not an “Eligible Contract Participant” (as defined in the Commodity Exchange Act) shall not be applied to its Obligations that are Excluded Swap Obligations.

  • Application of Payments and Proceeds Upon Default If an Event of Default has occurred and is continuing, Bank shall have the right to apply in any order any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations. Bank shall pay any surplus to Borrower by credit to the Designated Deposit Account or to other Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency. If Bank, directly or indirectly, enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Bank of cash therefor.

  • Use of Insurance Proceeds In case the buildings, improvements or fixtures required to be insured in Section 6.1 or any part thereof shall be destroyed or damaged by fire or such other casualty required to be insured against, then and as often as the same shall happen, all proceeds of such insurance shall be available for and used with all reasonable dispatch by the Lessee in rebuilding, repairing, replacing or otherwise reinstating the buildings, improvements or fixtures so destroyed or damaged in a good and substantial manner according to the plan and elevation thereof, or according to such modified plan as shall be approved under Section 4.1(a), and to pay the rent due the Lessor. If the available insurance proceeds shall be insufficient for rebuilding, repairing, replacing or otherwise reinstating such buildings, improvements or fixtures in the manner provided in this section above, then the Lessee shall provide the balance of all funds required to completely rebuild, repair, replace or otherwise reinstate such buildings, improvements or fixtures. Lessee shall undertake promptly to reinstate the building or buildings, or portions thereof, so destroyed or damaged according to the original plan and elevation thereof, or according to such modified plan as shall be approved by Lessor pursuant to Section 4.1(a). If a casualty under this Section 6.1 shall occur in the last ten (10) years of the Term of this Lease, the Lessee shall have the option of notifying the Lessor that the Lessee does not intend to rebuild the buildings, improvements, or fixtures so destroyed, but rather elects to terminate the Lease as of the date of the casualty, by giving Lessor written notice at least thirty (30) days after the date of the casualty, and then Lessee will, at its own expense, pay all real property taxes and any assessments then outstanding and shall pay over all insurance proceeds to the Lessor, except if requested by Lessor, Lessee shall use the insurance proceeds to promptly remove from the Premises, all buildings, improvements and trade fixtures, and restore the Land then remaining to good, orderly and sanitary condition and even grade, and upon so doing the Lessee shall then surrender any remaining balance of the insurance proceeds (if any), surrender this Lease and Lessee shall be relieved of further performance under this Lease. If the available insurance proceeds shall be insufficient, then Lessee shall provide the balance of all funds required to remove from the Premises, all buildings, improvements and trade fixtures, and restore the Land then remaining to good, orderly and sanitary condition and even grade.

  • Application of Collections All collections for the Collection Period shall be applied by the Servicer as follows: (a) With respect to each Receivable (other than a Purchased Receivable or a Sold Receivable), payments by or on behalf of the Obligor, (other than Supplemental Servicing Fees with respect to such Receivable, to the extent collected) shall be applied to interest and principal in accordance with the Simple Interest Method. (b) All amounts collected that are payable to the Servicer as Supplemental Servicing Fees hereunder shall be deposited in the Collection Account and paid to the Servicer in accordance with Section 5.7(a).

  • Proceeds The Company shall use the proceeds from the issuance and sale of the Securities as set forth in “Use of Proceeds to issuer” in the Offering Circular.

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