Common use of Distribution of Payments after Lease Event of Default Clause in Contracts

Distribution of Payments after Lease Event of Default. (a) During the continuance of a Lease Event of Default and subject to clauses (b) and (c) below, all proceeds from the sale of all or any part of any one or more Properties shall be distributed by the Administrative Agent in the following order of priority: first, so much of such payment or amount as shall be required to pay or reimburse the Administrative Agent and the Agent Lessor for any tax, fees, expense, indemnification or other loss incurred by the Administrative Agent or the Agent Lessor (to the extent incurred in connection with any duties as the Administrative Agent or Agent Lessor, as the case may be), shall be distributed to the Administrative Agent and the Agent Lessor without priority of one over the other for their own accounts in accordance with the amount of such payment or amount payable to such Person; second, so much of such payments or amounts as shall be required to pay the Lenders and the Lessors the amounts payable to them pursuant to any expense reimbursement or indemnification provisions of the Operative Documents shall be distributed to each such Lender and Lessor without priority of one over the other in accordance with the amount of such payment or payments payable to each such Person;

Distribution of Payments after Lease Event of Default. (a) During All amounts received by the Agent during the continuance of a Lease Event of Default and subject to clauses (b) and (c) belowDefault, all proceeds from the sale of all or any part of any one or more Properties shall shall, except as provided in Section 7.6, be distributed by the Administrative Agent in the following order of priority: first, so much of such payment or amount as shall be required to pay or reimburse the Administrative Agent and the Agent Lessor for any tax, fees, expense, indemnification expense or other loss incurred by the Administrative Agent or (to the Agent Lessor (extent not previously reimbursed and to the extent incurred in connection with any duties as the Administrative Agent or Agent Lessor, as the case may beAgent), shall be distributed to the Administrative Agent and the Agent Lessor without priority of one over the other for their its own accounts in accordance with the amount of such payment or amount payable to such Personaccount; second, so much of such payments or amounts as shall be required to pay the Agent the amounts payable to it pursuant to any expense reimbursement or indemnification provisions of the Operative Documents shall be distributed to the Agent; Participation Agreement third, so much of such payments or amounts as shall be required to pay the then existing or prior Lenders and the Lessors Lessor the amounts payable to them pursuant to any expense reimbursement or indemnification provisions of the Operative Documents shall be distributed to each such Lender and Lessor without priority of one over the other in accordance with the amount of such payment or payments payable to each such Person;; fourth, to the Lessor to pay in full the Lessor Balance then to the Lenders to pay in full any outstanding Loan Balance; and fifth, the balance, if any, of such payment or amounts remaining thereafter shall be promptly distributed to, or as directed by, the Lessee.

Distribution of Payments after Lease Event of Default. (a) During the continuance of a Lease Event of Default and subject to clauses clause (b) and (c) below, all proceeds from the sale of all or any part of any one or more Properties the Property shall be distributed by the Administrative Agent in the following order of priority: first, so much of such payment or amount as shall be required to pay or reimburse the Administrative Agent and the Agent Lessor Certificate Holder for any tax, fees, expense, indemnification or other loss incurred by the Administrative Agent or the Agent Lessor Certificate Holder (to the extent incurred in connection with any duties as the Administrative Agent or Agent LessorCertificate Holder, as the case may be), shall be distributed to the Administrative Agent and the Agent Lessor Certificate Holder without priority of one over the other for their own accounts in accordance with the amount of such payment or amount payable to such Person; second, so much of such payments or amounts as shall be required to pay the Lenders and the Lessors Certificate Holders the amounts payable to them pursuant to any expense reimbursement or indemnification provisions of the Operative Documents shall be distributed to each such Lender and Lessor Certificate Holder without priority of one over the other in accordance with the amount of such payment or payments payable to each such Person;

Distribution of Payments after Lease Event of Default. (a) During All amounts received by the Agent during the continuance of a Lease Event of Default and subject to clauses (b) and (c) belowDefault, all proceeds from the sale of all or any part of any one or more Properties shall shall, except as provided in SECTION 7.6, be distributed by the Administrative Agent in the following order of priority: firstFIRST, so much of such payment or amount as shall be required to pay or reimburse the Administrative Agent and the Agent Lessor for any tax, fees, expense, indemnification expense or other loss incurred by the Administrative Agent or (to the Agent Lessor (extent not previously reimbursed and to the extent incurred in connection with any duties as the Administrative Agent or Agent Lessor, as the case may beAgent), shall be distributed to the Administrative Agent and the Agent Lessor without priority of one over the other for their its own accounts in accordance with the amount of such payment or amount payable to such Personaccount; secondSECOND, so much of such payments or amounts as shall be required to pay the Agent the amounts payable to it pursuant to any expense reimbursement or indemnification provisions of the Operative Documents shall be distributed to the Agent; THIRD, so much of such payments or amounts as shall be required to pay the then existing or prior Lenders and the Lessors Lessor the amounts payable to them pursuant to any expense reimbursement or indemnification provisions of the Operative Documents shall be distributed to each such Lender and Lessor without priority of one over the other in accordance with the amount of such payment or payments payable to each such Person;; FOURTH, to the Lessor to pay in full the Lessor Balance then to the Lenders to pay in full any outstanding Loan Balance; and FIFTH, the balance, if any, of such payment or amounts remaining thereafter shall be promptly distributed to, or as directed by, the Lessee.

Distribution of Payments after Lease Event of Default. (a) During the continuance of a Lease Event of Default and subject to clauses clause (b) and (c) below, all proceeds from the sale of all or any part of any one or more Properties the Property and the Defeasance Deposit Collateral shall be distributed by the Administrative Agent in the following order of priority: first, so much of such payment or amount as shall be required to pay or reimburse the Administrative Agent and the Agent Lessor for any tax, fees, expense, indemnification or other loss incurred by the Administrative Agent or the Agent Lessor (to the extent incurred in connection with any duties as the Administrative Agent or Agent Lessor, as the case may be), shall be distributed to the Administrative Agent and the Agent Lessor without priority of one over the other for their own accounts in accordance with the amount of such payment or amount payable to such Person; second, so much of such payments or amounts as shall be required to pay the Lenders and the Lessors Investors the amounts payable to them pursuant to any expense reimbursement or indemnification provisions of the Operative Documents Agreements shall be distributed to each such Lender and Lessor Investor without priority of one over the other in accordance with the amount of such payment or payments payable to each such Person;; third, to the Lenders for application to pay in full the Loan Balance, pro rata among the Lenders without priority of one over the other in the proportion that the Participant Balance of each such Lender bears to the aggregate Participant Balances of all