Common use of Distribution and Application to Funding Party Balances of Remarketing Proceeds of Leased Property Clause in Contracts

Distribution and Application to Funding Party Balances of Remarketing Proceeds of Leased Property. (a) Any payments received by the Lessor as proceeds from the sale of any Leased Property sold pursuant to the Lessees' exercise of the Remarketing Option pursuant to Section 14.6 or 14.7 of the Lease, shall be distributed (or applied, in the case of clause third below) by the Lessor as promptly as possible (it being understood that any such payment received by the Lessor on a timely basis and in accordance with the provisions of the Lease shall be distributed on the date received in the funds so received) in the following order of priority: first, to the extent not previously deducted from such proceeds, to the Agent and the Funding Parties as reimbursement for any and all reasonable remarketing, sale, closing or other transfer costs, prorations or commissions (including broker fees, appraisal costs, legal fees and expenses and transfer taxes), paid or incurred by the Agent or any Funding Party and not reimbursed by the Lessees, pro rata according to the amount of such costs and fees; second, to the Lenders and the Lessor pro rata for application to all accrued and unpaid interest and Yield on, and outstanding principal of, their Loans and Allocated Amount in respect of all of the Leased Properties, an amount equal to all accrued and unpaid interest Yield on, and the outstanding principal of such Loans and Allocated Amount in respect of all of the Leased Properties; third, to the Lessor for application to the Lessor's Net Invested Amounts in respect of all of the Leased Properties, an amount equal to the Lessor's Net Invested Amounts in respect of all of the Leased Properties and all accrued and unpaid Yield thereon; fourth, to the Funding Parties pro rata for application to any other amount owing to the Funding Parties under the Operative Documents, an amount equal to such other amounts; and fifth, (i) if sold by a Lessee pursuant to Section 14.6 of the Lease, the excess, if any, to such Lessee, and (ii) otherwise, the excess, if any, to the Lessor.

Distribution and Application to Funding Party Balances of Remarketing Proceeds of Leased Property. (a) Any payments received by the Lessor as proceeds from the sale of any Leased Property sold pursuant to the Lessees' Lessee's exercise of the Remarketing Option pursuant to Section 14.6 or 14.7 of the Lease, shall be distributed (or applied, in the case of clause third below) by the Lessor as promptly as possible (it being understood that any such payment received by the Lessor on a timely basis and in accordance with the provisions of the Lease shall be distributed on the date received in the funds so received) in the following order of priority: first, to the extent not previously deducted from such proceeds, to the Agent and the Funding Parties as reimbursement for any and all reasonable remarketing, sale, closing or other transfer costs, prorations or commissions (including broker fees, appraisal costs, legal fees and expenses and transfer taxes), paid or incurred by the Agent or any Funding Party and not reimbursed by the LesseesLessee, pro rata according to the amount of such costs and fees; second, to the Lenders Lease Participant and the Lessor Lenders pro rata for application to all accrued and unpaid interest and Yield on, and outstanding principal of, their B Loans and Allocated Amount the B Percentage of the Lessor Invested Amounts in respect of all of the Leased Properties, an amount equal to all accrued and unpaid interest Yield on, their B Loans and the outstanding principal B Percentage of such Loans and Allocated Amount the Lessor Invested Amounts in respect of all of the Leased Properties; third, to the Lessor for application to the Lessor's Net Invested Amounts in respect of all of the Leased Properties, an amount equal to the Lessor's Net Invested Amounts in respect of all of the Leased Properties and all accrued and unpaid Yield thereonProperties; fourth, to the Funding Parties pro rata for application to any other amount owing to the Funding Parties under the Operative DocumentsDocuments (including accrued and unpaid interest on the Loans, accrued and unpaid Yield and any outstanding principal of the A Loans and the A Percentage of the Lessor Invested Amounts), an amount equal to such other amounts; and fifth, (i) if sold by a the Lessee pursuant to Section 14.6 of the Lease, the excess, if any, to such the Lessee, and (ii) otherwise, the excess, if any, to the Lessor.

Distribution and Application to Funding Party Balances of Remarketing Proceeds of Leased Property. (a) Any payments received by the Lessor as proceeds from the sale of any the Leased Property sold pursuant to after the Lessees' Lessee’s exercise of the Remarketing Option or received pursuant to Section 14.6 7.6, in each case so long as such payment is not a Construction Failure Payment (which shall be governed by paragraph (b) below) or 14.7 proceeds received from a sale of the Lease, Leased Property after the Lease Termination Date when no Event of Default has occurred (which sale after the Lease Termination Date shall be governed by paragraph (C) below) shall be distributed (or applied, in the case of clause third below) by the Lessor as promptly as possible (it being understood that any such payment received by the Lessor on a timely basis and in accordance with the provisions of the Lease shall be distributed on the date received in the funds so received) in the following order of priority: first, to the extent not previously deducted from such proceeds, to the Agent and Agent, the Funding Parties and the Lessee as reimbursement for any and all reasonable remarketing, carrying (including management fees, insurance, maintenance, security, build-out, utility, and tax charges, sale, closing or other transfer costs, prorations or commissions (including broker fees, appraisal costs, legal fees and expenses and transfer taxes), paid or incurred by the Agent or Agent, any Funding Party and not reimbursed by or the LesseesLessee, pro rata according to the amount of such costs and fees; second, to the Lenders and the Lessor pro rata for application to all accrued and unpaid interest and Yield on, and outstanding principal of, their Loans and the Allocated Amount in respect of all of the Leased PropertiesAmount, an amount equal to all accrued and unpaid interest Yield on, and the outstanding principal lesser of (i) such Loans and the Allocated Amount in respect of all of and (ii) the Leased PropertiesPermitted Lease Balance; third, to the Lessor for application to the Lessor's ’s Net Invested Amounts in respect of all of the Leased PropertiesAmount, an amount equal to the lesser of (i) the Lessor's ’s Net Invested Amounts in respect of all of the Leased Properties and all accrued and unpaid Yield thereon; fourth, to the Funding Parties pro rata for application to any other amount owing to the Funding Parties under the Operative Documents, an amount equal to such other amounts; and fifth, (i) if sold by a Lessee pursuant to Section 14.6 of the Lease, the excess, if any, to such Lessee, and (ii) otherwise, the excess, if any, Permitted Lease Balance minus the amount distributed pursuant to the Lessor.clause second above;

Distribution and Application to Funding Party Balances of Remarketing Proceeds of Leased Property. (a) Any For any payments received by the Lessor as proceeds from the sale of any Leased Property sold pursuant to after the Lessees' exercise of the Remarketing Option pursuant to Section 14.6 or 14.7 of the LeaseLease or received pursuant to Section 7.6, in each case so long as such payment is not a Construction Failure Payment (which shall be governed by paragraph (b) below) shall be distributed (or applied, in the case of clause third below) by the Lessor as promptly as possible (it being understood that any such payment received by the Lessor on a timely basis and in accordance with the provisions of the Lease shall be distributed on the date received in the funds so received) in the following order of priority: first, to the extent not previously deducted from such proceeds, to the Agent and the Funding Parties as reimbursement for any and all reasonable and documented remarketing, sale, closing or other transfer costs, prorations or commissions (including broker fees, appraisal costs, legal fees and expenses and transfer taxes), paid or incurred by the Agent or any Funding Party and not reimbursed by the Lesseesa Lessee, pro rata according to the amount of such costs and fees; second, to the Lenders and the Lessor pro rata for application to all accrued and unpaid interest and Yield on, and outstanding principal of, their Loans and the Allocated Amount in respect of all of the Leased PropertiesAmount, an amount equal to all accrued and unpaid interest Yield on, and the outstanding principal of such Loans and the Allocated Amount in respect of all of the Leased PropertiesAmount; third, to the Lessor for application to the Lessor's Net Invested Amounts in respect of all of the Leased PropertiesAmount, an amount equal to the Lessor's Net Invested Amounts in respect of all of the Leased Properties and all accrued and unpaid Yield thereonAmounts; fourth, to the Funding Parties pro rata for application to any other amount owing to the Funding Parties under the Operative Documents, an amount equal to such other amounts; and fifth, (i) if sold by a Lessee the Lessees pursuant to Section 14.6 of the Lease, the excess, if any, to such LesseeLessees, and (ii) otherwise, the excess, if any, to the Lessor.