Common use of Basic Rent Distribution Clause in Contracts

Basic Rent Distribution. Except as otherwise provided in Section 3.03, each installment of Interim Interest and Basic Rent as well as any installment of interest on overdue installments of Basic Rent, and any other moneys paid over by the Lessee or the Owner Trustee to the Indenture Trustee for such purpose, shall be distributed by the Indenture Trustee as promptly as possible (it being understood that any payments of Interim Interest and Basic Rent received by the Indenture Trustee on a timely basis and in accordance with the provisions of Section 3.6 of the Lease shall be distributed on the date received in the funds so received) in the following order of priority: first, so much of such installment as shall be required for the purpose shall be distributed and paid to the holders of the Equipment Notes of such series to pay in full the aggregate amount of the payment or payments of principal, Make- Whole Amount, if any, and interest (as well as any interest on overdue principal or interest) then due, such distribution to be made ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due with respect to each such Equipment Note bears to the aggregate amount of payments then due under all such Equipment Notes; and second, the balance, if any, of such installment remaining thereafter shall be distributed to the Owner Trustee for distribution in accordance with the terms of the Trust Agreement. The portion of each such installment distributed to a holder of an Equipment Note shall be applied by such holder in payment of such Equipment Note in accordance with the terms of Section 2.05.

Basic Rent Distribution. Except as otherwise provided in Section 3.03Sections 3.02 and 3.03 hereof, each installment of Interim Interest and Basic Rent as well as Rent, any installment payment of interest on overdue installments of Basic Rent, Rent [,any payment received from the Owner Participant pursuant to Section 7(cc) of the Participation Agreement](4) and any other moneys paid over by the Lessee or the Owner Trustee to the Indenture Trustee for such purpose, shall be distributed by the Indenture Trustee as promptly as possible (it being understood that any payments of Interim Interest and Basic Rent payment received by the Indenture Trustee on a timely basis and in accordance with the provisions of pursuant to Section 3.6 of the Lease 4.03 hereof shall be promptly distributed on the date received in the funds so received) in the following order of priority: firstFirst, (i) so much of such installment or payment as shall be required for the purpose shall be distributed and paid to the holders of the Equipment Notes of such series to pay in full the aggregate amount of the payment or payments of principal, Make- Whole Amount, if any, Principal Amount and interest and other amounts (as well as any interest on any overdue principal or interestPrincipal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due, such distribution due under all Series A Equipment Notes shall be distributed to be made the Note Holders of Series A ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due with respect to under each such Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; (ii) after giving effect to paragraph (i) above, so much of such installment or payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Note Holders of Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; and second(iii) after giving effect to paragraph (ii) above, so much of such installment or payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series C Equipment Notes shall be distributed to the Note Holders of Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Equipment Note bears to the aggregate amount of the payments then due under all Series C Equipment Notes; and Second, the balance, if any, of such installment remaining thereafter shall be distributed to the Owner Trustee for distribution free and clear of the Lien of this Indenture; provided, however, that if an Event of Default shall have occurred and be continuing, then such balance shall not be distributed as provided in this clause "Second" but shall be held by the Indenture Trustee as part of the Trust Indenture Estate and invested in accordance with Section 5.09 hereof until whichever of the following shall first occur: (i) all Events of Default shall have been cured or waived, in which event such balance shall be distributed as provided in this clause "Second" without reference to this proviso, (ii) Section 3.03 hereof shall be applicable, in which event such balance shall be distributed in accordance with the terms of the Trust Agreement. The portion of each such installment distributed to a holder of an Equipment Note shall be applied by such holder in payment provisions of such Equipment Note Section 3.03, or (iii) the 120th day after the receipt of such payment in accordance with the terms of Section 2.05.which case such payment shall be

Basic Rent Distribution. Except as otherwise provided ----------------------- in Section 3.033.03 or 3.05, each installment of Interim Interest and Basic Rent Rent, as well as any installment of interest on overdue installments of Basic Rent, Rent and any other moneys paid over by the Lessee or the Owner Trustee to the Indenture Trustee for such purpose, shall be distributed by the Indenture Trustee as promptly as possible (it being understood that any payments of Interim Interest and Basic Rent received by the Indenture Trustee on a timely basis and in accordance with the provisions of Section 3.6 of the Lease shall be distributed on the date received in the funds so received) in the following order of priority: first, so much of such ----- installment as shall be required for the purpose shall be distributed and paid to the holders of the Equipment Notes of such series to pay in full the aggregate amount of the payment or payments of principal, Make- Whole Amountpremium, if any, and interest (as well as any interest on overdue principal or interest) then due, such distribution to be made ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due with respect to each such Equipment Note bears to the aggregate amount of payments then due under all such Equipment Notes; and second, the balance, if any, of such installment remaining thereafter ------ shall be distributed to the Owner Trustee for distribution in accordance with the terms of the Trust Agreement. The portion of each such installment distributed to a holder of an Equipment Note shall be applied by such holder in payment of such Equipment Note in accordance with the terms of Section 2.05.

Basic Rent Distribution. Except as otherwise provided in Section 3.03, each installment of Interim Interest and Basic Rent as well as any installment of interest on overdue installments of Basic Rent, and any other moneys paid over by the Lessee or the Owner Trustee to the Indenture Trustee for such purpose, shall be distributed by the Indenture Trustee as promptly as possible (it being understood that any payments of Interim Interest and Basic Rent received by the Indenture Trustee on a timely basis and in accordance with the provisions of Section 3.6 of the Lease shall be distributed on the date received in the funds so received) in the following order of priority: first, so much of such installment as shall be required for the purpose shall be distributed and paid to the holders of the Equipment Notes of such series to pay in full the aggregate amount of the payment or payments of principal, Make- Make-Whole Amount, if any, and interest (as well as any interest on overdue principal or interest) then due, such distribution to be made ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due with respect to each such Equipment Note bears to the aggregate amount of payments then due under all such Equipment Notes; and second, the balance, if any, of such installment remaining thereafter shall be deemed released from the Lien of this Indenture and shall be distributed to the Owner Trustee for distribution in accordance with the terms of the Trust Agreement. The portion of each such installment distributed to a holder of an Equipment Note shall be applied by such holder in payment of such Equipment Note in accordance with the terms of Section 2.05.