Common use of Event of Loss; Optional Redemption Clause in Contracts

Event of Loss; Optional Redemption. Except as otherwise provided in Section 3.03, any payments received by the Indenture Trustee (i) with respect to the Aircraft as the result of an Event of Loss or (ii) in connection with any optional redemption of the Equipment Notes effected in accordance with the Operative Documents, shall be applied to redemption of the Equipment Notes, to payment of the Secured Obligations or to the Indenture Trustee or any Note Holder under the Participation Agreement by applying such funds in the following order of priority: First, (i) to reimburse the Indenture Trustee and the Note Holders for any reasonable costs or expenses incurred in connection with such redemption for which they are entitled to reimbursement, or indemnity by Owner, under the Operative Documents and then (ii) to pay any other amounts then due to the Indenture Trustee and the Note Holders under this Indenture, the Participation Agreement or the Equipment Notes (other than the amounts specified in clause Second below);

Event of Loss; Optional Redemption. Except as otherwise provided in Section 3.03, any payments received by the Indenture Trustee (i) with respect to the Aircraft as the result of an Event of Loss or (ii) in connection with any optional redemption of the Equipment Notes effected in accordance with the Operative Documents, shall be applied to redemption of the Equipment Notes, to payment of the Secured Obligations or to the Indenture Trustee or any Note Holder under the applicable Participation Agreement by applying such funds in the following order of priority: First, (i) to reimburse the Indenture Trustee and the Note Holders for any reasonable costs or expenses incurred in connection with such redemption for which they are entitled to reimbursement, or indemnity by Owner, under the Operative Documents and then (ii) to pay any other amounts then due to the Indenture Trustee and the Note Holders under this Indenture, the applicable Participation Agreement or the Equipment Notes (other than the amounts specified in clause Second below);

Event of Loss; Optional Redemption. Except as otherwise provided in Section 3.033.03 hereof, any payments received by the Indenture Trustee (i) with respect to the Aircraft (i) as the result of an Event of Loss or (ii) in connection with any optional redemption of the Equipment Notes effected in accordance with the Operative Documents, shall be applied to redemption of the Equipment Notes, to payment of the Secured Obligations or to the Indenture Trustee or any Note Holder under the Participation Agreement by applying such funds in the following order of priority: First, (i) to reimburse the Indenture Trustee and the Note Holders for any reasonable costs or expenses incurred in connection with such redemption for which they are entitled to reimbursement, or indemnity by Owner, under the Operative Documents and then (ii) to pay any other amounts then due to the Indenture Trustee and the Note Holders under this Indenture, the Participation Agreement or the Equipment Notes (other than the amounts specified in clause Second below);Notes; and

Event of Loss; Optional Redemption. (a) Except as otherwise provided in Section 3.033.03 hereof, any payments received by the Indenture Trustee (i) with respect to the Aircraft as the result of an Event of Loss or (ii) in connection with any optional a mandatory redemption of the Equipment Notes effected in accordance with pursuant to Section 6.01(a) following an Event of Loss respect to the Operative Documents, Aircraft shall be applied to redemption of the Equipment Notes, Notes and to payment of the all other Secured Obligations or to the Indenture Trustee or any Note Holder under the Participation Agreement by applying such funds in the following order of priority: First, (i) to reimburse the Indenture Trustee and the Note Holders Noteholders for any reasonable costs or expenses incurred in connection with such redemption for which they are entitled to reimbursement, or indemnity by Owner, under the Operative Documents and then (ii) to pay any other amounts then due (except as provided in clause "Second" below) to the Indenture Trustee Trustee, the Noteholders and the Note Holders other Indenture Indemnitees under this Indenture, the Participation Agreement or Agreement, the Equipment Notes (or any other than the amounts specified in clause Second below)Fundamental Documents;