Calculations in respect of Policy Drawings Sample Clauses

Calculations in respect of Policy Drawings. The Cash Manager shall make the following calculations or determinations in respect of the Policy:

Calculations in respect of Policy Drawings. The Cash Manager shall make the following calculations or determinations in respect of the Policy and the Class G Notes: (i) as soon as practicable after each Calculation Date, but in no event later than 12:00 p.m. New York City time on the date which is the third Business Day prior to each Payment Date, determine (after giving effect to the application of Available Collections in accordance with the applicable payment priorities set forth in Section 3.09, the application of LF Drawings to be made pursuant to the Initial Primary Liquidity Facility (or drawings under any Replacement Primary Liquidity Facility), any withdrawals from the Initial Primary Liquidity Reserve Account, any drawings under any other applicable Eligible Credit Facility and any withdrawals from any applicable Cash Collateral Account), whether a shortfall exists as of such Calculation Date in the Available Collections to make payment on the next succeeding Payment Date of Accrued Class G Interest (but not, for the avoidance of doubt, Certain Interest on Unpaid Interest) due on the Class G-3 Notes on such Payment Date (any such shortfall in respect of the Class G-3 Notes and any Payment Date, an “Interest Class G Shortfall” therefor); (ii) as soon as practicable after the Calculation Date next succeeding the date of a sale or other disposition of an Aircraft or of an Issuer Subsidiary which owns an Aircraft, but in no event later than 12:00 p.m. New York City time on the date which is the third Business Day prior to the next succeeding Payment Date, determine, the shortfall, if any, between the Class G Note Target Price (determined as of the date of disposition) of the disposed Aircraft (or of the Aircraft owned by the disposed Issuer Subsidiary) by or on behalf of, or at the direction of, the Controlling Party after an Acceleration of the Notes and the Net Sale Proceeds (as provided to the Cash Manager and the Policy Provider in a Written Notice from the Primary Servicer specifying the amounts of such proceeds) from the sale or other disposition of the relevant Aircraft (or of the Issuer Subsidiary owning such Aircraft) (the “Deficiency Class G Shortfall” with respect to the next succeeding Payment Date);

Calculations in respect of Policy Drawings. The Cash Manager shall make the following calculations or determinations in respect of the Policy and the Class G-1 Notes: (i) as soon as practicable after each Calculation Date, but in no event later than 12:00 p.m. New York City time on the date which is the third Business Day prior to each Payment Date, determine (after giving effect to all payments and transfers to be made with respect to such Payment Date and the application of Available Collections in accordance with the applicable payment priorities set forth in Section 3.09, the application of Facility Drawings to be made pursuant to the Initial Liquidity Facility (or drawings under any Replacement Liquidity Facility), any withdrawals from the Liquidity Facility Reserve Account or the Senior Cash Collateral Account (if established) and any withdrawals from the Cash Collateral Account, if any, pursuant to Section 3.01(q)), whether a shortfall will exist as of the next succeeding Payment Date in the Available Collections and such other amounts to make payment on such Payment Date of Accrued Class G Interest due on the Class G-1 Notes on such Payment Date (any such shortfall in respect of the Class G-1 Notes on any Payment Date, an “Interest Class G Shortfall” therefor); (ii) as soon as practicable after the Calculation Date next succeeding the date of a sale or other disposition of an Aircraft (not including any Aircraft acquired by way of