Dispositions of Aircraft; Total Loss. Upon any Total Loss or Disposition of an Aircraft or any Aircraft Interest, the Borrower shall prepay the Loans in an amount equal to (A) where such Total Loss or Disposition occurs during the Drawing Period, 100% of, and (B) where such Total Loss or Disposition occurs following the Drawing Period, 110% of, the product of (x) the Allocable Percentage in respect of such Aircraft and (y) the aggregate outstanding principal amount of the Loans immediately prior to such prepayment.
Dispositions of Aircraft; Total Loss. Upon any Total Loss or Disposition of an Aircraft or any Aircraft Interest (so long as no Trigger Event has occurred or is continuing in the case of a Disposition), the Borrower shall prepay such Drawings in an amount equal to (A) 100%, in the case of a Total Loss and (B) 105%, in the case of a Disposition, in each case of the product of (x) the Allocable Percentage in respect of such Aircraft and (y) the aggregate outstanding principal amount of the Drawings immediately prior to such prepayment. Such amounts shall be due and payable (a) in the case of a prepayment as the result of a Total Loss, upon the earlier of (A) the date that is 150 days after the date of such Total Loss and (B) receipt by the applicable Borrower Group Company of the insurance proceeds in respect of such Total Loss, or (b) in the case of a prepayment as the result of a Disposition, at the time of such Disposition.
Dispositions of Aircraft; Total Loss. Upon any Total Loss or any Disposition of a Portfolio Aircraft or any Aircraft Interest (unless, in the case of a Disposition, so long as no Event of Default has occurred and is continuing, the Borrower has substituted an Eligible Aircraft for such Portfolio Aircraft or Aircraft Interest pursuant to Section 6.08(b) or provided additional cash collateral as permitted in Section 5.12(c)), the Borrower shall prepay such Drawings in an amount equal to (A) 100%, in the case of a Total Loss and (B) 105%, in the case of a Disposition, in each case of the product of (x) the Allocable Percentage in respect of such Portfolio Aircraft and (y) the aggregate outstanding principal amount of the Drawings immediately prior to such prepayment. Such amounts shall be due and payable (a) in the case of a prepayment as the result of a Total Loss, upon the earlier of (A) the date that is 180 days after the date of such Total Loss and (B) receipt by the applicable Borrower Group Company of the insurance proceeds in respect of such Total Loss, or (b) in the case of a prepayment as the result of a Disposition, at the time of such Disposition.
Dispositions of Aircraft; Total Loss. Upon any Total Loss of an Aircraft or any Aircraft Interest, the Borrower and Fly Malta shall prepay the Loans in an amount equal to the product of (x) the Allocable Percentage in respect of such Aircraft and (y) the aggregate outstanding principal amount of the Loans immediately prior to such prepayment. Upon any Disposition of an Aircraft or any Aircraft Interest, the Borrower and Fly Malta shall prepay the Loans in an amount equal to the product of (i) the Allocable Percentage in respect of such Aircraft and (ii) the aggregate outstanding principal amount of the Loans immediately prior to such prepayment; provided, that, if immediately following such Disposition, the LTV Ratio is above the then applicable Required LTV Threshold, any Net Available Proceeds in excess of the foregoing amount up to the amount necessary to decrease the LTV Ratio to the then applicable Required LTV Threshold shall be applied to reduce the aggregate outstanding principal amount of all Loans, first to the Series A Loans and second to the Series B Loans, in each case in inverse order of maturity. Notwithstanding the immediately preceding sentence, with respect to any Disposition occurring after the Share Purchase Date, the Borrower may elect, in lieu of prepaying the Loans with respect to such Disposition (with four (4) Business Days prior written notice to the Administrative Agent), to deposit the Net Available Proceeds in relation to any such Disposition into the Disposition Account, and shall be permitted to use such Available Disposition Proceeds to acquire Substitute Aircraft that are Eligible Aircraft for a period of up to six (6) months following such Disposition subject to the terms of this Agreement, provided, that if on the date that is six (6) months following the date of such Disposition any amounts remain on deposit in the Disposition Account, such amounts shall be used to prepay the Loans as set forth herein. Such amounts shall be due and payable and applied in accordance with Section 2.18(a) (a) in the case of a prepayment as the result of a Total Loss, upon receipt by the applicable Borrower Group Company of the insurance proceeds in respect of such Total Loss, or (b) in the case of a prepayment as the result of a Disposition, at the time of such Disposition.
