Distributions after Default. Subject to the provisions of Section 2.02 hereof, (i) all payments received and amounts realized by the Owner Trustee after an Indenture Event of Default shall have occurred and shall be continuing and after the Certificates shall have become or been declared due and payable pursuant to Section 7.02(b) or 7.02(c) of the Indenture or the Lease shall have been declared in default (including, without limitation, any amounts realized by the Owner Trustee or the Trustor from the exercise of any remedies pursuant to Section 17.01 of the Lease), as well as (ii) all funds then held or thereafter received by the Owner Trustee as part of this Trust Agreement, the Lease or otherwise, shall be distributed to the Indenture Trustee for distribution in accordance with the provisions of Article V of the Indenture.
Distributions after Default. Subject to the terms of Section 5.1, the proceeds received by the Owner Trustee from the exercise of any remedy under the Lease shall be distributed pursuant to Section 4.2 above. This Trust shall cease and terminate in accordance with the terms set forth in Section 8.1 and upon the final disposition by the Owner Trustee of all of the Trust Estate pursuant to this Section 4.4.
Distributions after Default. Subject to the terms of Section --------------------------- ------- 4.5, the proceeds received by Certificate Trustee from the exercise of any --- remedy under the Lease shall be distributed forthwith upon receipt by Certificate Trustee from Administrative Agent in the following order of priority: first, in ----- TRUST AGREEMENT the manner set forth in clause "first" of Section 3.2(c); second, in the manner -------------- --------------- ------ set forth in clause "second" of Section 3.2(c); third, so much of the remainder --------------- --------------- ----- for which provision as to the application thereof is contained in the Lease or any of the other Operative Documents (other than the Loan Documents) shall be applied and distributed in accordance with the terms of the Lease or such other Operative Document; and fourth, the balance, if any, shall be paid to the Person ------ lawfully entitled thereto. This Trust shall cease and terminate in accordance with the terms set forth in Section 6.1, upon the final disposition by ----------- Certificate Trustee of all of the Trust Estate pursuant to this Section 3.3. -----------
Distributions after Default. Following the occurrence and during the continuance of an Event of Default, Borrower shall cause its Subsidiaries to make Distributions directly to the Distribution Account in an amount sufficient to pay all of the outstanding Obligations in full.
Distributions after Default. Subject to the terms of Section 5.1 hereof, the proceeds received by the Owner Trustee from the exercise of any remedy under the Lease shall be distributed pursuant to Section 4.2 above. This Trust shall cease and terminate in accordance with the terms set forth in Section 8.1 and upon the final disposition by the Owner Trustee of all of the Trust Estate pursuant to this Section 4.4.
Distributions after Default. After the occurrence of a Master Lease Event of Default under Section 7.1.1 and until such Master Lease Event of Default is cured, no Tenant shall make any payments or distributions (including salaries, bonuses, fees, principal, interest, dividends, liquidating distributions, management fees, cash flow distributions or lease payments) to any Affiliate of any Tenant or any Guarantor, or any shareholder, member, partner or other equity interest holder of any Tenant, any Guarantor or any Affiliate of any Tenant or any Guarantor; provided, however, that Tenant may make payments or distributions directly to Guarantor and Tenant and Tenant’s Affiliates shall have the right to pay Facility-level operating expenses in the ordinary course of their respective businesses consistent with past practice including salaries, bonuses, equipment, vehicle and service contracts, maintenance expenses, general and administrative costs and other similar expenses.
Distributions after Default. 67 10.7.1 CHC.......................................................67 10.7.2 Guarantors and Pledged Entities...........................67 10.8 Affiliate Indebtedness..............................................68 10.9
Distributions after Default. In addition to receiving the Preferred Return and the Additional Preferred Return, if the Series T-1 Interest is transferred to any Person after and as a result of a default by the Initial Holder under the Southern Diversified Timber Loan, then commencing on the New Holder Date the holder of the Series T-1 Interest will become entitled to share in all distributions made to the Common Limited Partners by the Partnership under Article VI or Article XIV of the Partnership Agreement as if it were a Common Limited Partner. The holder of the Series T-1 Interest shall be deemed to have a Contingent Participating Interest as of the New Holder Date equal to the percentage equivalent of a fraction, the numerator of which is one percent (1%) of the Redemption and Liquidation Price, and the denominator of which is the excess of (A) the total Fair Market Value of the Partnership’s assets net of the Partnership’s liabilities as of the New Holder Date over (B) the Redemption and Liquidation Price, provided, however, that in no event shall the Contingent Participating Interest exceed one percent (1%) of the total Percentage Interests in the Partnership. For the avoidance of doubt, the calculation of the Contingent Participating Interest shall have no effect on the amount or priority of the Redemption and Liquidation Price. After the New Holder Date, the Percentage Interest of the Series T-1 Interest shall be subject to adjustment in the same manner as for Common Limited Partnership Interests to take into account admissions or withdrawals of additional partners, contributions and other similar events.
Distributions after Default. Subject to the provisions of Section 2.02 hereof, (i) all payments received and amounts realized by the Owner Trustee while an Indenture Event of Default exists and after the Certificates shall have become or been declared due and payable pursuant to Section 7.02(b) or 7.02(c) of the Indenture or the Lease shall have been declared in default (including, without limitation, any amounts realized by the Owner Trustee or the Trustor from the exercise of any remedies pursuant to Section 17.01 of the Lease), as well as (ii) all funds then held or thereafter received by the Owner Trustee as part of this Trust Agreement, the Lease or otherwise, shall be distributed to the Indenture Trustee.
Distributions after Default. Subject to the terms of Section 4.5 hereof, any and all proceeds received by the Trust from the exercise of any remedy under the Master Lease shall, after deduction of all expenses and disbursements of or made by the Trust in connection with the exercise of such remedy or otherwise due and owing to the Trust, including reasonable fees and expenses of the Trust, the Owner Trustee and their counsel (provided that, absent a legal conflict requiring otherwise, the fees of only one such counsel shall be included hereby), will be distributed to the Agent for distribution in accordance with the Loan Agreement and the Participation Agreement. This Trust shall cease and terminate in accordance with the terms set forth in Section 6.1, upon the final disposition by the Trust of all of the Trust Estate pursuant to this Section 3.2.
