Common use of Distribution and Application of Purchase Payment Clause in Contracts

Distribution and Application of Purchase Payment. The payment by the Lessee or the Construction Agent of: (a) the purchase price for a consummated sale of the Lessor’s interest in the Leased Property received by the Agent in connection with the Lessee’s exercise of the Purchase Option under Section 14.1 of the Lease or the Construction Agent’s exercise of its option to purchase the Lessor’s interest in the Leased Property under Section 5.3 of the Construction Agency Agreement, or (b) the payment payable in connection with the Lessee’s compliance with its obligation to purchase the Lessor’s interest in the Leased Property in accordance with Section 14.2 or 14.3 of the Lease, or (c) the Lease Balance in accordance with Section 10.1 or Section 10.2 of the Lease, shall be distributed by Agent as promptly as possible, to the Funding Parties pro rata for application to their respective Funding Party Balances.

Distribution and Application of Purchase Payment. The With respect to any Leased Property, the payment by the Lessee or the Construction Agent of: (a) the purchase price for a consummated sale of the Lessor’s interest in the such Leased Property received by the Agent in connection with the Lessee’s 's exercise of the Purchase Option or Partial Purchase Option under Section 14.1 14.1(a) or (b) of the Lease Lease, or the Construction Agent’s Lessee's exercise of its option to purchase the Lessor’s interest in the such Leased Property under Section 5.3 of the Construction Agency Agreement, or (b) the payment payable in connection with purchase price paid as a result of the Lessee’s 's compliance with its obligation to purchase the Lessor’s interest in the Leased Property in accordance with Section 14.2 or 14.3 of the Lease, or (c) the Lease a Leased Property Balance for a Leased Property in accordance with Section 10.1 or Section 10.2 of the Lease, shall be distributed by Agent as promptly as possiblepossible first, to the Funding Parties Lenders pro rata in accordance with, and for application to to, their respective Funding Party BalancesBalances in respect of such Leased Property and second, to the Lessor for application to its Funding Party Balance in respect of such Leased Property.

Distribution and Application of Purchase Payment. The With respect to any Leased Property, the payment by the Lessee or the Construction Agent of: (a) the purchase price for a consummated sale of the Lessor’s interest in the such Leased Property received by the Agent in connection with the Lessee’s 's exercise of the Purchase Option or Partial Purchase Option under Section 14.1 of the Lease Lease, or the Construction Agent’s Lessee's exercise of its option to purchase the Lessor’s interest in the such Leased Property under Section 5.3 of the Construction Agency Agreement, or (b) the payment payable in connection with the Lessee’s 's compliance with its obligation to purchase the Lessor’s interest in the Leased Property in accordance with Section 14.2 or 14.3 of the Lease, or (c) the Lease payment by the Lessee to Agent of the related Leased Property Balance therefor in accordance with Section 10.1 or Section 10.2 of the Lease, shall be distributed by Agent as promptly as possiblepossible first, to the Funding Parties Lenders pro rata in accordance with, and for application to to, their respective Funding Party BalancesBalances in respect of such Leased Property and second, to the Lessor for application to its Funding Party Balance in respect of such Leased Property.

Distribution and Application of Purchase Payment. The With respect to any Leased Property, the payment by the a Lessee or the Construction Agent of: (a) the purchase price for a consummated sale of the Lessor’s interest in the such Leased Property received by the Agent in connection with the such Lessee’s 's exercise of the Purchase Option or Partial Purchase Option under Section 14.1 of the Lease or such Lessee's or the Construction Agent’s 's exercise of its option to purchase the Lessor’s interest in the such Leased Property under Section 5.3 of the Construction Agency Agreement, or (b) the payment payable in connection with the such Lessee’s 's compliance with its obligation to purchase the Lessor’s interest in the Leased Property in accordance with Section 14.2 or 14.3 of the Lease, or (c) the Lease Leased Property Balance therefor in accordance with Section 10.1 or Section 10.2 of the Lease, shall be distributed by Agent as promptly as possible, to the Funding Parties pro rata in accordance with, and for application to to, their respective Funding Party BalancesBalances in respect of such Leased Property or Properties.