Common use of Credit for Amounts on Deposit Clause in Contracts

Credit for Amounts on Deposit. In the event of Prepayment of the principal components of the Lease Payments and Additional Rent in full pursuant to this Article X, such that the Trust Agreement shall be discharged by its terms as a result of such Prepayment, all amounts then on deposit in the Lease Payment Fund or the Insurance and Condemnation Fund shall be credited towards the amounts then required to be so prepaid.

Appears in 4 contracts

Samples: Lease Purchase Agreement, Lease Purchase Agreement, Lease Purchase Agreement

AutoNDA by SimpleDocs

Credit for Amounts on Deposit. In the event of Prepayment prepayment of the principal components of the Lease Payments and Additional Rent in full pursuant to under this Article X, such that the Trust Agreement shall be discharged by its terms as a result of such Prepaymentprepayment, all remaining amounts then on deposit in the Lease Payment Fund or the Insurance and Condemnation Reserve Fund shall be credited towards the amounts then required to be so prepaid.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Credit for Amounts on Deposit. In the event of Prepayment prepayment of the principal components of the Lease Payments and Additional Rent in full pursuant to under this Article X, X such that the Trust Agreement shall be discharged by its terms as a result of such Prepaymentprepayment, all amounts then on deposit in the Lease Payment Fund or the Insurance and Condemnation Fund shall be credited towards toward the amounts then required to be so prepaid.

Appears in 2 contracts

Samples: Lease/Purchase Agreement, Lease/Purchase Agreement

AutoNDA by SimpleDocs

Credit for Amounts on Deposit. In the event of Prepayment prepayment of the principal components of the Lease Payments and Additional Rent in full pursuant to under this Article X, X such that the Trust Agreement shall be discharged by its terms as a result of such Prepaymentprepayment, all amounts then on deposit in the Lease Payment Fund or and the Insurance and Condemnation Reserve Fund shall be credited towards toward the amounts then required to be so prepaid, provided that in no event shall amounts paid by the Insurer be used as a credit toward any payment or prepayment.

Appears in 1 contract

Samples: Lease/Purchase Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!