Common use of Event of Loss and Replacement Clause in Contracts

Event of Loss and Replacement. (a) Any payment received by the Indenture Trustee with respect to the Engine as the result of an Event of Loss thereto shall be applied to the redemption of the Equipment Notes and to all other amounts payable hereunder by applying such funds in the following order of priority: first, to reimburse the Indenture Trustee for any reasonable out-of-pocket costs or expenses incurred in connection with such Event of Loss, second, to pay in full the aggregate amount of the payment or payments of unpaid Principal Amount, and unpaid interest and other amounts (as well as any interest on overdue Principal Amount, and to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due to the Note Holders under all Equipment Notes, all in the order of priority specified in clause "first" of Section 3.01 hereof, and third, if and to the extent required to be paid to the Lessee (or if directed by the Lessee, any Permitted Sublessee) in reimbursement of payment of Stipulated Loss Value pursuant to Section 11(d) of the Lease, to the Lessee (or if directed by the Lessee, any Permitted Sublessee), and otherwise as provided in clause "fourth" of Section 3.03 hereof; provided that, if a Replacement Engine is to be substituted for the Engine subject to such Event of Loss as provided in Section 11 of the Lease and Section 5.06 hereof, any proceeds which result from such Event of Loss and are paid to the Indenture Trust Indenture

Event of Loss and Replacement. (a) Any payment received by the Indenture Trustee with respect to the Engine Airframe or the Airframe and one or both Engines as the result of an Event of Loss thereto shall be applied to the redemption of the Equipment Notes and to all other amounts payable hereunder by applying such funds in the following order of priority: first, to reimburse the Indenture Trustee for any reasonable out-of-pocket costs or expenses incurred in connection with such Event of Loss, second, to pay in full the aggregate amount of the payment or payments of unpaid Principal Amount, and unpaid interest and other amounts (as well as any interest on overdue Principal Amount, and to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due to the Note Holders under all Equipment Notes, all in the order of priority specified in clause "first" of Section 3.01 hereof, and Trust Indenture third, if and to the extent required to be paid to the Lessee (or if directed by the Lessee, any Permitted Sublessee) in reimbursement of payment of Stipulated Loss Value pursuant to Section 11(d) of the Lease, to the Lessee (or if directed by the Lessee, any Permitted Sublessee), and otherwise as provided in clause "fourth" of Section 3.03 hereof; provided that, if a Replacement Engine is Airframe or a Replacement Airframe and one or more Replacement Engines are to be substituted for the Engine Airframe or the Airframe and one or both Engines subject to such Event of Loss as provided in Section 11 of the Lease and Section 5.06 hereof, any proceeds which result from such Event of Loss and are paid to the Indenture Trustee shall be held by the Indenture Trustee as part of the Trust Indenture Estate as security for the obligations of the Lessee under the Operative Documents and invested in accordance with the terms of Section 3.07 hereof and, unless theretofore applied in accordance with the provisions of the Lease and this Indenture, such proceeds shall, to the extent payable to the Lessee under the Lease, be released to the Lessee (or if directed by the Lessee, any Permitted Sublessee) upon or in connection with the replacement thereof as provided in such Sections.

Event of Loss and Replacement. (a) Any payment received by the Indenture Trustee with respect to the Engine Airframe or the Airframe and one or both Engines as the result of an Event of Loss thereto shall be applied to the redemption of the Equipment Notes and to all other amounts payable hereunder by applying such funds in the following order of priority: first, to reimburse the Indenture Trustee for any reasonable out-of-pocket costs or expenses incurred in connection with such Event of Loss, second, to pay in full the aggregate amount of the payment or payments of unpaid Principal Amount, and unpaid interest and other amounts (as well as any interest on overdue Principal Amount, and to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due to the Note Holders under all Equipment Notes, all in the order of priority specified in clause "first" of Section 3.01 hereof, and third, if and to the extent required to be paid to the Lessee (or if directed by the Lessee, any Permitted Sublessee) in reimbursement of payment of Stipulated Loss Value pursuant to Section 11(d) of the Lease, to the Lessee (or if directed by the Lessee, any Permitted Sublessee), and otherwise as provided in clause "fourth" of Section 3.03 hereof; provided that, if a Replacement Engine is Airframe or a Replacement Airframe and one or more Replacement Engines are to be substituted for the Engine Airframe or the Airframe and one or both Engines subject to such Event of Loss as provided in Section 11 Trust Indenture 48 - 43 - of the Lease and Section 5.06 hereof, any proceeds which result from such Event of Loss and are paid to the Indenture Trustee shall be held by the Indenture Trustee as part of the Trust Indenture Estate as security for the obligations of the Lessee under the Operative Documents and invested in accordance with the terms of Section 3.07 hereof and, unless theretofore applied in accordance with the provisions of the Lease and this Indenture, such proceeds shall, to the extent payable to the Lessee under the Lease, be released to the Lessee (or if directed by the Lessee, any Permitted Sublessee) upon or in connection with the replacement thereof as provided in such Sections .

Event of Loss and Replacement. (a) Any payment received by the Indenture Trustee with respect to the Engine Airframe or the Airframe and one or both Engines as the result of an Event of Loss thereto shall be applied to the redemption of the Equipment Notes and to all other amounts payable hereunder by applying such funds in the following order of priority: first, to reimburse the Indenture Trustee for any reasonable out-of-pocket costs or expenses incurred in connection with such Event of Loss, second, to pay in full the aggregate amount of the payment or payments of unpaid Principal Amount, and unpaid interest and other amounts (as well as any interest on overdue Principal Amount, and to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due to the Note Holders under all Equipment Notes, all in the order of priority specified in clause "first" of Section 3.01 hereof, and third, if and to the extent required to be paid to the Lessee (or if directed by the Lessee, any Permitted Sublessee) in reimbursement of payment of Stipulated Loss Value pursuant to Section 11(d) of the Lease, to the Lessee (or if directed by the Lessee, any Permitted Sublessee), and otherwise as provided in clause "fourth" of Section 3.03 hereof; provided that, if a Replacement Engine is Airframe or a Replacement Airframe and one or more Replacement Engines are to be substituted for the Engine Airframe or the Airframe and one or both Engines subject to such Event of Loss as provided in Section 11 Trust Indenture 48 - 43 - of the Lease and Section 5.06 hereof, any proceeds which result from such Event of Loss and are paid to the Indenture Trustee shall be held by the Indenture Trustee as part of the Trust Indenture Estate as security for the obligations of the Lessee under the Operative Documents and invested in accordance with the terms of Section 3.07 hereof and, unless theretofore applied in accordance with the provisions of the Lease and this Indenture, such proceeds shall, to the extent payable to the Lessee under the Lease, be released to the Lessee (or if directed by the Lessee, any Permitted Sublessee) upon or in connection with the replacement thereof as provided in such Sections.

Event of Loss and Replacement. (a) Any payment received by the Indenture Trustee with respect to the Engine Airframe or the Airframe and one or both Engines as the result of an Event of Loss thereto shall be applied to the redemption of Trust Indenture 50 - 45 - the Equipment Notes and to all other amounts payable hereunder by applying such funds in the following order of priority: first, to reimburse the Indenture Trustee for any reasonable out-of-pocket costs or expenses incurred in connection with such Event of Loss, second, to pay in full the aggregate amount of the payment or payments of unpaid Principal Amount, and unpaid interest and other amounts (as well as any interest on overdue Principal Amount, and to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due to the Note Holders under all Equipment Notes, all in the order of priority specified in clause "first" of Section 3.01 hereof, and third, if and to the extent required to be paid to the Lessee (or if directed by the Lessee, any Permitted Sublessee) in reimbursement of payment of Stipulated Loss Value pursuant to Section 11(d) of the Lease, to the Lessee (or if directed by the Lessee, any Permitted Sublessee), and otherwise as provided in clause "fourth" of Section 3.03 hereof; provided that, if a Replacement Engine is Airframe or a Replacement Airframe and one or more Replacement Engines are to be substituted for the Engine Airframe or the Airframe and one or both Engines subject to such Event of Loss as provided in Section 11 of the Lease and Section 5.06 hereof, any proceeds which result from such Event of Loss and are paid to the Indenture Trustee shall be held by the Indenture Trustee as part of the Trust Indenture Estate as security for the obligations of the Lessee under the Operative Documents and invested in accordance with the terms of Section 3.07 hereof and, unless theretofore applied in accordance with the provisions of the Lease and this Indenture, such proceeds shall, to the extent payable to the Lessee under the Lease, be released to the Lessee (or if directed by the Lessee, any Permitted Sublessee) upon or in connection with the replacement thereof as provided in such Sections.

Event of Loss and Replacement. (a) Any payment received by the Indenture Trustee with respect to the Engine Airframe or the Airframe and one or both Engines as the result of an Event of Loss thereto shall be applied to the redemption of the Equipment Notes and to all other amounts payable hereunder by applying such funds in the following order of priority: first, to reimburse the Indenture Trustee for any reasonable out-out- of-pocket costs or expenses incurred in connection with such Event of Loss, second, to pay in full the aggregate amount of the payment or payments of unpaid Principal Amount, and unpaid interest and other amounts (as well as any interest on overdue Principal Amount, and to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due to the Note Holders under all Equipment Notes, all in the order of priority specified in clause "first" of Section 3.01 hereof, and third, if and to the extent required to be paid to the Lessee (or if directed by the Lessee, any Permitted Sublessee) in reimbursement of payment of Stipulated Loss Value pursuant to Section 11(d) of the Lease, to the Lessee (or if directed by the Lessee, any Permitted Sublessee), and otherwise as provided in clause "fourth" of Section 3.03 hereof; provided that, if a Replacement Engine is Airframe or a Replacement Airframe and one or more Replacement Engines are to be substituted for the Engine Airframe or the Airframe and one or both Engines subject to such Event of Loss as provided in Section 11 of the Lease and Section 5.06 hereof, any proceeds which result from such Event of Loss and are paid to the Indenture Trustee shall be held by the Indenture Trustee as part of the Trust Indenture Estate as security for the obligations of the Lessee under the Operative Documents and invested in accordance with the terms of Section 3.07 hereof and, unless theretofore applied in accordance with the provisions of the Lease and this Indenture, such proceeds shall, to the extent payable to the Lessee under the Lease, be released to the Lessee (or if directed by the Lessee, any Permitted Sublessee) upon or in connection with the replacement thereof as provided in such Sections.

Event of Loss and Replacement. (a) Any payment received by the Indenture Trustee with respect to the Engine Airframe or the Airframe and one or both Engines as the result of an Event of Loss thereto shall be applied to the redemption of the Equipment Notes and to all other amounts payable hereunder by applying such funds in the following order of priority: first, to reimburse the Indenture Trustee for any reasonable out-of-pocket costs or expenses incurred in connection with such Event of Loss, second, to pay in full the aggregate amount of the payment or payments of unpaid Principal Amount, and unpaid interest and other amounts (as well as any interest on overdue Principal Amount, and to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due to the Note Holders under all Equipment Notes, all in the order of priority specified in clause "first" of Section 3.01 hereof, and third, if and to the extent required to be paid to the Lessee (or if directed by the Lessee, any Permitted Sublessee) in reimbursement of payment of Stipulated Loss Value pursuant to Section 11(d) of the Lease, to the Lessee (or if directed by the Lessee, any Permitted Sublessee), and otherwise as provided in clause "fourth" of Section 3.03 hereof; provided that, if a Replacement Engine is Airframe or a Replacement Airframe and one or more Replacement Engines are to be substituted for the Engine Airframe or the Airframe and one or both Engines subject to such Event of Loss as provided in Section 11 of the Lease and Section 5.06 hereof, any proceeds which result from such Event of Loss and are paid to the Indenture Trustee shall be held by the Indenture Trustee as part of the Trust Indenture Estate as security for the obligations of the Lessee under the Operative Documents and invested in accordance with the terms of Section 3.07 hereof and, unless theretofore applied in accordance with the provisions of the Lease and this Indenture, such proceeds shall, to the extent payable to the Lessee under the Lease, be released to the Lessee (or if directed by the Lessee, any Permitted Sublessee) upon or in connection with the replacement thereof as provided in such Sections .

Event of Loss and Replacement. (a) Any payment received by the Indenture Trustee with respect to the Engine as the result of an Event of Loss thereto shall be applied to the redemption of the Equipment Notes and to all other amounts payable hereunder by applying such funds in the following order of priority: first, to reimburse the Indenture Trustee for any reasonable out-of-pocket costs or expenses incurred in connection with such Event of Loss, second, to pay in full the aggregate amount of the payment or payments of unpaid Principal Amount, and unpaid interest and other amounts (as well as any interest on overdue Principal Amount, and to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due to the Note Holders under all Equipment Notes, all in the order of priority specified in clause "first" of Section 3.01 hereof, and third, if and to the extent required to be paid to the Lessee (or if directed by the Lessee, any Permitted Sublessee) in reimbursement of payment of Stipulated Loss Value pursuant to Section 11(d) of the Lease, to the Lessee (or if directed by the Lessee, any Permitted Sublessee), and otherwise as provided in clause "fourth" of Section 3.03 hereof; provided that, if a Replacement Engine is to be substituted for the Engine subject to such Event of Loss as provided in Section 11 of the Lease and Section 5.06 hereof, any proceeds which result from such Event of Loss and are paid to the Indenture Trust Indenture 48 - 43 - Trustee shall be held by the Indenture Trustee as part of the Trust Indenture Estate as security for the obligations of the Lessee under the Operative Documents and invested in accordance with the terms of Section 3.07 hereof and, unless theretofore applied in accordance with the provisions of the Lease and this Indenture, such proceeds shall, to the extent payable to the Lessee under the Lease, be released to the Lessee (or if directed by the Lessee, any Permitted Sublessee) upon or in connection with the replacement thereof as provided in such Sections.

Event of Loss and Replacement. (a) Any payment received by the Indenture Trustee with respect to the Engine Airframe or the Airframe and one or both Engines as the result of an Event of Loss thereto shall be applied to the redemption of the Equipment Notes and to all other amounts payable hereunder by applying such funds in the following order of priority: first, to reimburse the Indenture Trustee for any reasonable out-of-pocket costs or expenses incurred in connection with such Event of Loss, second, to pay in full the aggregate amount of the payment or payments of unpaid Principal Amount, and unpaid interest and other amounts (as well as any interest on overdue Principal Amount, and to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due to the Note Holders under all Equipment Notes, all in the order of priority specified in clause "first" of Section 3.01 hereof, and third, if and to the extent required to be paid to the Lessee (or if directed by the Lessee, any Permitted Sublessee) in reimbursement of payment of Stipulated Loss Value pursuant to Section 11(d) of the Lease, to the Lessee (or if directed by the Lessee, any Permitted Sublessee), and otherwise as provided in clause "fourth" of Section 3.03 hereof; provided that, if a Replacement Engine is Airframe or a Replacement Airframe and one or more Replacement Engines are to be substituted for the Engine Airframe or the Airframe and one or both Engines subject to such Event of Loss as provided in Section 11 of the Lease and Section 5.06 hereof, any proceeds which result from such Event of Loss and are paid to the Indenture Trustee shall be held by the Indenture Trustee as part of the Trust Indenture Estate as security for the obligations of the Lessee under the Operative Documents and invested in accordance with the Trust Indenture terms of Section 3.07 hereof and, unless theretofore applied in accordance with the provisions of the Lease and this Indenture, such proceeds shall, to the extent payable to the Lessee under the Lease, be released to the Lessee (or if directed by the Lessee, any Permitted Sublessee) upon or in connection with the replacement thereof as provided in such Sections.

Event of Loss and Replacement. (a) Any payment received by the Indenture Trustee with respect to the Engine as the result of an Event of Loss thereto shall be applied to the redemption of the Equipment Notes and to all other amounts payable hereunder by applying such funds in the following order of priority: first, to reimburse the Indenture Trustee for any reasonable out-of-pocket costs or expenses incurred in connection with such Event of Loss, second, to pay in full the aggregate amount of the payment or payments of unpaid Principal Amount, and unpaid interest and other amounts (as well as any interest on overdue Principal Amount, and to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due to the Note Holders under all Equipment Notes, all in the order of priority specified in clause "first" of Section 3.01 hereof, and third, if and to the extent required to be paid to the Lessee (or if directed by the Lessee, any Permitted Sublessee) in reimbursement of payment of Stipulated Loss Value pursuant to Section 11(d) of the Lease, to the Lessee (or if directed by the Lessee, any Permitted Sublessee), and otherwise as provided in clause "fourth" of Section 3.03 hereof; provided that, if a Replacement Engine is to be substituted for the Engine subject to such Event of Loss as provided in Section 11 of the Lease and Section 5.06 hereof, any proceeds which result from such Event of Loss and are paid to the Indenture Trustee shall be held by the Indenture Trustee as part of the Trust Indenture Estate as security for the obligations of the Lessee under the Operative Documents and invested in accordance with the terms of Section 3.07 hereof and, unless theretofore applied in accordance with the provisions of the Lease and this Trust Indenture 48 - 43 - Indenture, such proceeds shall, to the extent payable to the Lessee under the Lease, be released to the Lessee (or if directed by the Lessee, any Permitted Sublessee) upon or in connection with the replacement thereof as provided in such Sections.

Event of Loss and Replacement. (a) Any payment received by the Indenture Trustee with respect to the Engine Airframe or the Airframe and one or both Engines as the result of an Event of Loss thereto shall be applied to the redemption of Trust Indenture the Equipment Notes and to all other amounts payable hereunder by applying such funds in the following order of priority: first, to reimburse the Indenture Trustee for any reasonable out-of-pocket costs or expenses incurred in connection with such Event of Loss, second, to pay in full the aggregate amount of the payment or payments of unpaid Principal Amount, and unpaid interest and other amounts (as well as any interest on overdue Principal Amount, and to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due to the Note Holders under all Equipment Notes, all in the order of priority specified in clause "first" of Section 3.01 hereof, and third, if and to the extent required to be paid to the Lessee (or if directed by the Lessee, any Permitted Sublessee) in reimbursement of payment of Stipulated Loss Value pursuant to Section 11(d) of the Lease, to the Lessee (or if directed by the Lessee, any Permitted Sublessee), and otherwise as provided in clause "fourth" of Section 3.03 hereof; provided that, if a Replacement Engine is Airframe or a Replacement Airframe and one or more Replacement Engines are to be substituted for the Engine Airframe or the Airframe and one or both Engines subject to such Event of Loss as provided in Section 11 of the Lease and Section 5.06 hereof, any proceeds which result from such Event of Loss and are paid to the Indenture Trustee shall be held by the Indenture Trustee as part of the Trust Indenture Estate as security for the obligations of the Lessee under the Operative Documents and invested in accordance with the terms of Section 3.07 hereof and, unless theretofore applied in accordance with the provisions of the Lease and this Indenture, such proceeds shall, to the extent payable to the Lessee under the Lease, be released to the Lessee (or if directed by the Lessee, any Permitted Sublessee) upon or in connection with the replacement thereof as provided in such Sections.