Common use of Enforcement of Subordinated Claims Clause in Contracts

Enforcement of Subordinated Claims. (a) ENFORCEMENT BY THE HOLDERS OF THE SENIOR CLAIMS. At any Proceeding, until all Obligations shall have been indefeasibly paid in full, in cash or cash equivalent, the holders of the Senior Claims are hereby irrevocably authorized (but not required) to: (i) enforce claims comprising Subordinated Claims in the name of the Subordinated Party by proof of debt, proof of claim, suit or otherwise; (ii) collect any assets of any Owner Lessor distributed, divided or applied by way of dividend or payment, and any securities issued, in each case, on account of Subordinated Claims and apply the same, or the proceeds of any realization upon the same that the Indenture Estate in their discretion elect to effect, to Senior Claims until all Obligations shall have been indefeasibly paid in full, in cash or cash equivalent; provided, however, that the Lease Indenture Estate shall render any surplus to the Subordinated Party or its affiliates, as their interests appear, or interplead such surplus with a court of competent jurisdiction; (iii) vote claims comprising Subordinated Claims to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension; and (iv) take generally any action in connection with any such Proceeding which the Subordinated Party might otherwise take.

Enforcement of Subordinated Claims. (a) ENFORCEMENT BY THE HOLDERS OF THE SENIOR CLAIMSEnforcement by the Secured Parties. At any Proceeding, until all Obligations shall have been indefeasibly paid in full, in cash the Secured Parties (or cash equivalent, the holders Collateral Agent on behalf of the Senior Claims Secured Parties) are hereby irrevocably authorized (but not required) to: (i) enforce claims comprising Subordinated Claims in the name of the Subordinated Party Parties by proof of debt, proof of claim, suit or otherwise; (ii) collect any assets of any Owner Lessor Intercompany Borrower distributed, divided or applied by way of dividend or payment, and any securities issued, in each case, on account of Subordinated Claims and apply the same, or the proceeds of any realization upon the same that the Indenture Estate Secured Parties in their discretion elect to effect, to Senior Claims until all Obligations shall have been indefeasibly paid in full, in cash or cash equivalent; provided, however, that the Lease Indenture Estate Secured Parties shall render any surplus to the Subordinated Party Parties or its affiliatestheir Affiliates, as their interests appear, or interplead such surplus with a court of competent jurisdiction; (iii) vote claims comprising Subordinated Claims to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension; and (iv) take generally any action in connection with any such Proceeding which the Subordinated Party Parties might otherwise take.

Enforcement of Subordinated Claims. (a) ENFORCEMENT BY THE HOLDERS OF THE SENIOR CLAIMSEnforcement by the Secured Parties. At any Proceeding, until all Obligations shall have been indefeasibly paid in full, in cash the Secured Parties (or cash equivalent, the holders Collateral Agent on behalf of the Senior Claims Secured Parties) are hereby irrevocably authorized (but not required) to: (i) enforce claims comprising Subordinated Claims in the name of the Subordinated Party Parties by proof of debt, proof of claim, suit or otherwise; (ii) collect any assets of any Owner Lessor Intercompany Borrower distributed, divided or applied by way of dividend or payment, and any securities issued, in each case, on account of Subordinated Claims and apply the same, or the proceeds of any realization upon the same that the Indenture Estate Secured Parties in their discretion elect to effect, to Senior Claims until all Obligations shall have been indefeasibly paid in full, in cash or cash equivalent; providedPROVIDED, howeverHOWEVER, that the Lease Indenture Estate Secured Parties shall render any surplus to the Subordinated Party Parties or its affiliatestheir Affiliates, as their interests appear, or interplead such surplus with a court of competent jurisdiction; (iii) vote claims comprising Subordinated Claims to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension; and (iv) take generally any action in connection with any such Proceeding which the Subordinated Party Parties might otherwise take.

Enforcement of Subordinated Claims. (a) ENFORCEMENT BY THE HOLDERS OF THE SENIOR CLAIMSEnforcement by the Secured Parties. At any Proceeding, until all Obligations shall have been indefeasibly paid in full, in cash or cash equivalentfull and all Commitments shall have been terminated, the holders of the Senior Claims Secured Parties are hereby irrevocably authorized (but not required) to: (i) enforce claims comprising Subordinated Claims in the name of the Subordinated Party Parties by proof of debt, proof of claim, suit or otherwise; (ii) collect any assets of any Owner Lessor Intercompany Borrower distributed, divided or applied by way of dividend or payment, and any securities issued, in each case, on account of Subordinated Claims and apply the same, or the proceeds of any realization upon the same that the Indenture Estate Secured Parties in their discretion elect to effect, to Senior Claims until all Obligations shall have been indefeasibly paid in full, in cash or cash equivalentfull and all Commitments shall have been terminated; provided, however, that the Lease Indenture Estate Secured Parties shall render any surplus to the Subordinated Party Parties or its their affiliates, as their interests appear, or interplead such surplus with a any court of competent jurisdiction;. (iii) vote claims comprising Subordinated Claims to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension; and (iv) take generally any action in connection with any such Proceeding which the Subordinated Party Parties might otherwise take.