Common use of Manner of Payments Clause in Contracts

Manner of Payments. All Rent (other than Supplemental Rent payable to Persons other than Lessor, which shall be payable to such other Persons in accordance with written instructions furnished to Lessee by such Persons, as otherwise provided in any of the Operative Agreements or as required by law) shall be paid by Lessee to Lessor at its office at 000 Xxxxxx Xxxxxx, 00xx Xxxxx, Xxxxxxxx, XX 00000, Attention: Corporate Trust Department, provided, that so long as the Indenture shall not have been discharged pursuant to the terms thereof, Lessor hereby directs, and Lessee hereby agrees, that all Rent (excluding Excepted Property) payable to Lessor shall be paid from the Payment Account directly to the Indenture Trustee at the times and in funds of the type specified in this Section 3.5 at the office of the Indenture Trustee at Xxxxxx Square North, 0000 X. Xxxxxx Xxxxxx, Xxxxxxxxxx, XX 00000-0000, ABA No. 000000000, Account No. 64008-0, Ref: Trinity Rail-TRLIII 2003-1C, or at such other location in the United States of America as the Indenture Trustee may otherwise direct. All Rent shall be paid by Lessee to the recipient not later than 11:00 a.m. Chicago, Illinois time on the date of such payment in funds consisting of lawful currency of the United States of America, which shall be immediately available. Notwithstanding anything contained in this Lease to the contrary, any amounts received by any Person pursuant to distribution from any of the Accounts shall for all purposes hereof be deemed payment in satisfaction of the related obligation hereunder to which such distribution relates and any failure by Lessor, the Indenture Trustee or any Indemnified Party to receive from the Collateral Agent the full amount of any such distribution measured by reference to Basic Rent, Supplemental Rent or any component thereof shall be deemed a failure by Lessee to pay such Basic Rent or Supplemental Rent hereunder, as the case may be.

Appears in 3 contracts

Samples: Equipment Lease Agreement (Trinity Industries Inc), Equipment Lease Agreement (Trinity Industries Inc), Equipment Lease Agreement (Trinity Industries Inc)

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Manner of Payments. All Rent (other than Supplemental Rent payable to Persons other than Lessor, which shall be payable to such other Persons in accordance with written instructions furnished to Lessee by such Persons, as otherwise provided in any of the Operative Agreements or as required by law) shall be paid by Lessee to Lessor at its office at 000 Xxxxxx Xxxxxx, 00xx Xxxxx, Xxxxxxxx, XX 00000, Attention: Corporate Trust Department, provided, that so long as the Indenture shall not have been discharged pursuant to the terms thereof, Lessor hereby directs, and Lessee hereby agrees, that all Rent (excluding Excepted Property) payable to Lessor shall be paid from the Payment Account directly to the Indenture Trustee at the times and in funds of the type specified in this Section 3.5 at the office of the Indenture Trustee at Xxxxxx Square North, 0000 X. Xxxxxx Xxxxxx, Xxxxxxxxxx, XX 00000-0000, ABA No. 000000000, Account No. 64008067435-0000, Ref: Trinity Rail-TRLIII 2003TRLIV 2004-1C1A, or at such other location in the United States of America as the Indenture Trustee may otherwise direct. All Rent shall be paid by Lessee to the recipient not later than 11:00 a.m. Chicago, Illinois time on the date of such payment in funds consisting of lawful currency of the United States of America, which shall be immediately available. Notwithstanding anything contained in this Lease to the contrary, any amounts received by any Person pursuant to distribution from any of the Accounts shall for all purposes hereof be deemed payment in satisfaction of the related obligation hereunder to which such distribution relates and any failure by Lessor, the Indenture Trustee or any Indemnified Party to receive from the Collateral Agent the full amount of any such distribution measured by reference to Basic Rent, Supplemental Rent or any component thereof shall be deemed a failure by Lessee to pay such Basic Rent or Supplemental Rent hereunder, as the case may be.

Appears in 3 contracts

Samples: Equipment Lease Agreement (Trinity Industries Inc), Equipment Lease Agreement (Trinity Industries Inc), Equipment Lease Agreement (Trinity Industries Inc)

Manner of Payments. All Rent (other than Supplemental Rent payable to Persons other than Lessor, which shall be payable to such other Persons in accordance with written instructions furnished to Lessee by such Persons, as otherwise provided in any of the Operative Agreements or as required by law) shall be paid by Lessee to Lessor at its office at 000 Xxxxxx Xxxxxx, 00xx Xxxxx, Xxxxxxxx, XX 00000, Attention: Corporate Trust Department, provided, that so long as the Indenture shall not have been discharged pursuant to the terms thereof, Lessor hereby directs, and Lessee hereby agrees, that all Rent (excluding Excepted Property) payable to Lessor shall be paid from the Payment Account directly to the Indenture Trustee at the times and in funds of the type specified in this Section 3.5 at the office of the Indenture Trustee at Xxxxxx Square North, 0000 X. Xxxxxx Xxxxxx, Xxxxxxxxxx, XX 00000-0000, ABA No. 000000000, Account No. 6400864006-0, Ref: Trinity Rail-TRLIII 2003-1C1A, or at such other location in the United States of America as the Indenture Trustee may otherwise direct. All Rent shall be paid by Lessee to the recipient not later than 11:00 a.m. Chicago, Illinois time on the date of such payment in funds consisting of lawful currency of the United States of America, which shall be immediately available. Notwithstanding anything contained in this Lease to the contrary, any amounts received by any Person pursuant to distribution from any of the Accounts shall for all purposes hereof be deemed payment in satisfaction of the related obligation hereunder to which such distribution relates and any failure by Lessor, the Indenture Trustee or any Indemnified Party to receive from the Collateral Agent the full amount of any such distribution measured by reference to Basic Rent, Supplemental Rent or any component thereof shall be deemed a failure by Lessee to pay such Basic Rent or Supplemental Rent hereunder, as the case may be.

Appears in 3 contracts

Samples: Equipment Lease Agreement (Trinity Industries Inc), Equipment Lease Agreement (Trinity Industries Inc), Equipment Lease Agreement (Trinity Industries Inc)

Manner of Payments. All Rent (other than Supplemental Rent payable to Persons other than Lessor, which shall be payable to such other Persons in accordance with written instructions furnished to Lessee by such Persons, as otherwise provided in any of the Operative Agreements or as required by law) shall be paid by Lessee to Lessor at its office at 000 Xxxxxx Xxxxxx, 00xx Xxxxx, Xxxxxxxx, XX 00000, Attention: Corporate Trust Department, provided, that so long as the Indenture shall not have been discharged pursuant to the terms thereof, Lessor hereby directs, and Lessee hereby agrees, that all Rent (excluding Excepted Property) payable to Lessor shall be paid from the Payment Account directly to the Indenture Trustee at the times and in funds of the type specified in this Section 3.5 at the office of the Indenture Trustee at Xxxxxx Square North, 0000 X. Xxxxxx Xxxxxx, Xxxxxxxxxx, XX 00000-0000, ABA No. 000000000, Account No. 6400864007-0, Ref: Trinity Rail-TRLIII 2003-1C1B, or at such other location in the United States of America as the Indenture Trustee may otherwise direct. All Rent shall be paid by Lessee to the recipient not later than 11:00 a.m. Chicago, Illinois time on the date of such payment in funds consisting of lawful currency of the United States of America, which shall be immediately available. Notwithstanding anything contained in this Lease to the contrary, any amounts received by any Person pursuant to distribution from any of the Accounts shall for all purposes hereof be deemed payment in satisfaction of the related obligation hereunder to which such distribution relates and any failure by Lessor, the Indenture Trustee or any Indemnified Party to receive from the Collateral Agent the full amount of any such distribution measured by reference to Basic Rent, Supplemental Rent or any component thereof shall be deemed a failure by Lessee to pay such Basic Rent or Supplemental Rent hereunder, as the case may be.

Appears in 3 contracts

Samples: Equipment Lease Agreement (Trinity Industries Inc), Equipment Lease Agreement (Trinity Industries Inc), Equipment Lease Agreement (Trinity Industries Inc)

Manner of Payments. All Rent (other than Supplemental Rent payable to Persons other than Lessor, which shall be payable to such other Persons in accordance with written instructions furnished to Lessee by such Persons, as otherwise provided in any of the Operative Agreements or as required by law) shall be paid by Lessee to Lessor at its office at 000 Xxxxxx Xxxxxx, 00xx XxxxxXxxxxxx Square, XxxxxxxxHartford, XX 00000CT, 06103, Attention: Corporate Trust DepartmentAdministration, provided, that so long as the Indenture shall not have been discharged pursuant to the terms thereof, Lessor hereby directs, and Lessee hereby agrees, that all Rent (excluding Excepted Property) payable to Lessor shall be paid from into the Payment Account directly to the Indenture Trustee at the times and in funds of the type specified in this Section 3.5 at the office of the Indenture Trustee at Xxxxxx Square North000 X. XxXxxxx Street, 0000 X. Xxxxxx XxxxxxSuite 1960, XxxxxxxxxxChicago, XX 00000-0000IL 60603, ABA No. 000000000, Account No. 64008608775318, Attn: Xxxxxxxx Xxxxxxxx, Corporate Trust Services Division, Trust TRLI 2001-0, Ref: Trinity Rail-TRLIII 2003-1C1B, or at such other location in the United States of America as the Indenture Trustee may otherwise direct. All Rent shall be paid by Lessee to the recipient not later than 11:00 a.m. Chicago, Illinois time on the date of such payment in funds consisting of lawful currency of the United States of America, which shall be immediately available. Notwithstanding anything contained in this Lease to the contrary, any amounts received by any Person pursuant to distribution from any of the Accounts (as such term is defined in the Collateral Agency Agreement) shall for all purposes hereof be deemed payment in satisfaction of the related obligation hereunder to which such distribution relates and any failure by Lessor, the Indenture Trustee or any Indemnified Party to receive from the Collateral Agent the full amount of any such distribution measured by reference to Basic Rent, Supplemental Rent or any component thereof shall be deemed a failure by Lessee to pay such Basic Rent or Supplemental Rent hereunder, as the case may be.

Appears in 3 contracts

Samples: Equipment Lease Agreement (Trinity Industries Inc), Equipment Lease Agreement (Trinity Industries Inc), Equipment Lease Agreement (Trinity Industries Inc)

Manner of Payments. All Rent (other than Supplemental Rent payable to Persons other than Lessor, which shall be payable to such other Persons in accordance with written instructions furnished to Lessee by such Persons, as otherwise provided in any of the Operative Agreements or as required by law) shall be paid by Lessee to Lessor at its office at 000 Xxxxxx Xxxxxx225 Asylum Street, 00xx XxxxxGoodwin Square, XxxxxxxxHartford, XX 00000CT, 06103, Attention: Corporate Trust DepartmentXxxxxxxxx Xxxxx Xxxxxxxxxation, provided, that so Lease Agreement (TRLI 2001-1C) long as the Indenture shall not have been discharged pursuant to the terms thereof, Lessor hereby directs, and Lessee hereby agrees, that all Rent (excluding Excepted Property) payable to Lessor shall be paid from into the Payment Account directly to the Indenture Trustee at the times and in funds of the type specified in this Section 3.5 at the office of the Indenture Trustee at Xxxxxx Square North135 S. LaSalle Street, 0000 X. Xxxxxx XxxxxxSuite 1960, XxxxxxxxxxChicago, XX 00000-0000IL 60603, ABA No. 000000000071000000, Account Xxxxxxx No. 64008-02090067, Ref: Trinity Rail608775318 TRLI, Attn: Kristinx Xxxxxxxw, Corporate Txxxx Xxrvices Division, Trust TRLI 2000-TRLIII 2003-1C0X, or at such xx xx xxxh other location in the United States of America as the Indenture Trustee may otherwise direct. All Rent shall be paid by Lessee to the recipient not later than 11:00 a.m. Chicago, Illinois time on the date of such payment in funds consisting of lawful currency of the United States of America, which shall be immediately available. Notwithstanding anything contained in this Lease to the contrary, any amounts received by any Person pursuant to distribution from any of the Accounts (as such term is defined in the Collateral Agency Agreement) shall for all purposes hereof be deemed payment in satisfaction of the related obligation hereunder to which such distribution relates and any failure by Lessor, the Indenture Trustee or any Indemnified Party to receive from the Collateral Agent the full amount of any such distribution measured by reference to Basic Rent, Supplemental Rent or any component thereof shall be deemed a failure by Lessee to pay such Basic Rent or Supplemental Rent hereunder, as the case may be.

Appears in 2 contracts

Samples: Equipment Lease Agreement (Trinity Industries Inc), Equipment Lease Agreement (Trinity Industries Inc)

Manner of Payments. All Rent (other than Supplemental Rent payable to Persons other than Lessor, which shall be payable to such other Persons in accordance with written instructions furnished to Lessee by such Persons, as otherwise provided in any of the Operative Agreements or as required by law) shall be paid by Lessee to Lessor at its office at 000 225 Xxxxxx Xxxxxx, 00xx XxxxxXxxxxxx Xxxare, XxxxxxxxHartford, XX 00000CT, 06103, Attention: Corporate Trust DepartmentAdministration, provided, that so long as the Indenture shall not have been discharged pursuant to the terms thereof, Lessor hereby directs, and Lessee hereby agrees, that all Rent (excluding Excepted Property) payable to Lessor shall be paid from the Payment Account directly to the Indenture Trustee at the times and in funds of the type specified in this Section 3.5 at the office of the Indenture Trustee at Xxxxxx Square North, 0000 135 X. Xxxxxx XxXxxxx Xxxxxx, XxxxxxxxxxSuite 1960, XX 00000-0000Chicago, IL 60603, ABA No. 000000000071000000, Account No. 64008Xxcount 608775318, Attn: Krisxxxx Xxxxxxxx, Xxrporate Trust Services Division, Trust TRLI 2001-0, Ref: Trinity Rail-TRLIII 2003-1C1A, or at such other location in the United States of America as the Indenture Trustee may otherwise direct. All Rent shall be paid by Lessee to the recipient not later than 11:00 a.m. Chicago, Illinois time on the date of such payment in funds consisting of lawful currency of the United States of America, which shall be immediately available. Notwithstanding anything contained in this Lease to the contrary, any amounts received by any Person pursuant to distribution from any of the Accounts (as such term is defined in the Collateral Agency Agreement) shall for all purposes hereof be deemed payment in satisfaction of the related obligation hereunder to which such distribution relates and any failure by Lessor, the Indenture Trustee or any Indemnified Party to receive from the Collateral Agent the full amount of any such distribution measured by reference to Basic Rent, Supplemental Rent or any component thereof shall be deemed a failure by Lessee to pay such Basic Rent or Supplemental Rent hereunder, as the case may be.the

Appears in 1 contract

Samples: Equipment Lease Agreement (Trinity Industries Inc)

Manner of Payments. All Rent (other than Supplemental Rent ------------------ payable to Persons other than Lessor, which shall be payable to such other Persons in accordance with written instructions furnished to Lessee by such Persons, as otherwise provided in any of the Operative Agreements or as required by law) shall be paid by Lessee to Lessor at its office at 000 Xxxxxx Xxxxxx, 00xx Xxxxx, Xxxxxxxx, XX 00000[___________________________________________________], Attention: Corporate Trust Department[_______________], provided, that so long as the Indenture shall not have been -------- discharged pursuant to the terms thereof, Lessor hereby directs, and Lessee hereby agrees, that all Rent (excluding Excepted Property) payable to Lessor shall be paid from the Payment Account directly to the Indenture Trustee at the times and in funds of the type specified in this Section 3.5 at the office of the Indenture Trustee at Xxxxxx Square NorthXxx Xxxxxxxxxxxxx Xxxxx, 0000 X. Xxxxxx Xxxxxx, Xxxxxxxxxx, XX Xxxxxxxxxxxxx 00000-0000, ABA No. 000000000[_____________], Attn: Corporate Trust Services Division, Account No. 64008-0, Ref: Trinity Rail-TRLIII 2003-1C, # [______________] or at such other location in the United States of America as the Indenture Trustee may otherwise direct. All Rent shall be paid by Lessee to the recipient not later than 11:00 a.m. ______ __m. Chicago, Illinois time on the date of such payment in funds consisting of lawful currency of the United States of America, which shall be immediately available. Notwithstanding anything contained in this Lease to the contrary, any amounts received by any Person pursuant to distribution from any of the Accounts (as such term is defined in the Intercreditor Agreement) shall for all purposes hereof be deemed payment in satisfaction of the related obligation hereunder to which such distribution relates and any failure by the Lessor, the Indenture Trustee or any Indemnified Party to receive from the Collateral Agent the full amount of any such distribution measured by reference to Basic Rent, Supplemental Rent or any component thereof shall be deemed a failure by Lessee to pay such Basic Rent or Supplemental Rent hereunder, as the case may be.

Appears in 1 contract

Samples: Equipment Lease Agreement (General American Railcar Corp Ii)

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Manner of Payments. All Rent (other than Supplemental Rent payable to Persons other than Lessor, which shall be payable to such other Persons in accordance with written instructions furnished to Lessee by such Persons, as otherwise provided in any of the Operative Agreements or as required by law) shall be paid by Lessee to Lessor at its office at 000 Xxxxxx Xxxxxx225 Asylum Street, 00xx XxxxxGoodwin Square, XxxxxxxxHartford, XX 00000CT, 06103, Attention: Corporate Trust DepartmentCxxxxxxxx Xxxxx Xxxxxxxxxxxion, provided, that so long as the Indenture shall not have been discharged pursuant to the terms thereof, Lessor hereby directs, and Lessee hereby agrees, that all Rent (excluding Excepted Property) payable to Lessor shall be paid from the Payment Account directly to the Indenture Trustee at the times and in funds of the type specified in this Section 3.5 at the office of the Indenture Trustee at Xxxxxx Square North135 S. LaSalle Street, 0000 X. Xxxxxx XxxxxxSuite 1960, XxxxxxxxxxChicago, XX 00000-0000IL 60603, ABA No. 000000000071000000, Account No. 64008Xxxxxxx 008775318, Attn: Kristine Schossow, Corporate Truxx Xxxxxxes Division, Trust TRLI 2000-00X, Ref: Trinity Rail-TRLIII 2003-1C, or at such xx xx xxxx other location in the United States of America as the Indenture Trustee may otherwise direct. All Rent shall be paid by Lessee to the recipient not later than 11:00 a.m. Chicago, Illinois time on the date of such payment in funds consisting of lawful currency of the United States of America, which shall be immediately available. Notwithstanding anything contained in this Lease to the contrary, any amounts received by any Person pursuant to distribution from any of the Accounts (as such term is defined in the Collateral Agency Agreement) shall for all purposes hereof be deemed payment in satisfaction of the related obligation hereunder to which such distribution relates and any failure by Lessor, the Indenture Trustee or any Indemnified Party to receive from the Collateral Agent the full amount of any such distribution measured by reference to Basic Rent, Supplemental Rent or any component thereof shall be deemed a failure by Lessee to pay such Basic Rent or Supplemental Rent hereunder, as the case may be.

Appears in 1 contract

Samples: Equipment Lease Agreement (Trinity Industries Inc)

Manner of Payments. All Rent (other than Supplemental Rent payable to Persons other than Lessor, which shall be payable to such other Persons in accordance with written instructions furnished to Lessee by such Persons, as otherwise provided in any of the Operative Agreements or as required by law) shall be paid by Lessee to Lessor at its office at 000 Xxxxxx Xxxxxx, 00xx XxxxxXxxxxxx Square, XxxxxxxxHartford, XX 00000CT, 06103, Attention: Corporate Trust DepartmentAdministration, provided, that so long as the Indenture shall not have been discharged pursuant to the terms thereof, Lessor hereby directs, and Lessee hereby agrees, that all Rent (excluding Excepted Property) payable to Lessor shall be paid from the Payment Account directly to the Indenture Trustee at the times and in funds of the type specified in this Section 3.5 at the office of the Indenture Trustee at Xxxxxx Square North000 X. XxXxxxx Street, 0000 X. Xxxxxx XxxxxxSuite 1960, XxxxxxxxxxChicago, XX 00000-0000IL 60603, ABA No. 000000000, Account No. 64008608775318, Attn: Xxxxxxxx Xxxxxxxx, Corporate Trust Services Division, Trust TRLI 2001-0, Ref: Trinity Rail-TRLIII 2003-1C1A, or at such other location in the United States of America as the Indenture Trustee may otherwise direct. All Rent shall be paid by Lessee to the recipient not later than 11:00 a.m. Chicago, Illinois time on the date of such payment in funds consisting of lawful currency of the United States of America, which shall be immediately available. Notwithstanding anything contained in this Lease to the contrary, any amounts received by any Person pursuant to distribution from any of the Accounts (as such term is defined in the Collateral Agency Agreement) shall for all purposes hereof be deemed payment in satisfaction of the related obligation hereunder to which such distribution relates and any failure by Lessor, the Indenture Trustee or any Indemnified Party to receive from the Collateral Agent the full amount of any such distribution measured by reference to Basic Rent, Supplemental Rent or any component thereof shall be deemed a failure by Lessee to pay such Basic Rent or Supplemental Rent hereunder, as the case may be.

Appears in 1 contract

Samples: Equipment Lease Agreement (Trinity Industries Inc)

Manner of Payments. All Rent (other than Supplemental Rent payable to Persons other than Lessor, which shall be payable to such other Persons in accordance with written instructions furnished to Lessee by such Persons, as otherwise provided in any of the Operative Agreements or as required by law) shall be paid by Lessee to Lessor at its office at 000 Xxxxxx Xxxxxx, 00xx XxxxxXxxxxxx Square, XxxxxxxxHartford, XX 00000CT, 06103, Attention: Corporate Trust DepartmentAdministration, provided, that so Lease Agreement (TRLI 2001-1C) long as the Indenture shall not have been discharged pursuant to the terms thereof, Lessor hereby directs, and Lessee hereby agrees, that all Rent (excluding Excepted Property) payable to Lessor shall be paid from into the Payment Account directly to the Indenture Trustee at the times and in funds of the type specified in this Section 3.5 at the office of the Indenture Trustee at Xxxxxx Square North000 X. XxXxxxx Street, 0000 X. Xxxxxx XxxxxxSuite 1960, XxxxxxxxxxChicago, XX 00000-0000IL 60603, ABA No. 000000000, Account No. 64008-00000000, Ref: Trinity Rail-TRLIII 2003608775318 TRLI, Attn: Xxxxxxxx Xxxxxxxx, Corporate Trust Services Division, Trust TRLI 2001-1C, or at such other location in the United States of America as the Indenture Trustee may otherwise direct. All Rent shall be paid by Lessee to the recipient not later than 11:00 a.m. Chicago, Illinois time on the date of such payment in funds consisting of lawful currency of the United States of America, which shall be immediately available. Notwithstanding anything contained in this Lease to the contrary, any amounts received by any Person pursuant to distribution from any of the Accounts (as such term is defined in the Collateral Agency Agreement) shall for all purposes hereof be deemed payment in satisfaction of the related obligation hereunder to which such distribution relates and any failure by Lessor, the Indenture Trustee or any Indemnified Party to receive from the Collateral Agent the full amount of any such distribution measured by reference to Basic Rent, Supplemental Rent or any component thereof shall be deemed a failure by Lessee to pay such Basic Rent or Supplemental Rent hereunder, as the case may be.

Appears in 1 contract

Samples: Equipment Lease Agreement (Trinity Industries Inc)

Manner of Payments. (a) All Rent (other than whether Basic Rent or Supplemental Rent payable to Persons other than Lessor, which shall be payable to such other Persons in accordance with written instructions furnished to Lessee by such Persons, as otherwise provided in any of the Operative Agreements or as required by lawRent) shall be paid by the Lessee to Lessor at its office at 000 Xxxxxx Xxxxxx, 00xx Xxxxx, Xxxxxxxx, XX 00000, Attention: Corporate Trust Department, provided, that so long as the Indenture shall not have been discharged pursuant to the terms thereof, Lessor hereby directs, and Lessee hereby agrees, that all Rent (excluding Excepted Property) payable to Lessor shall be paid from the Payment Account directly to the Indenture Trustee at the times and in funds of the type specified in this Section 3.5 at the office of the Indenture Trustee at Xxxxxx Square North, 0000 X. Xxxxxx Xxxxxx, Xxxxxxxxxx, XX 00000-0000, ABA No. 000000000, Account No. 64008-0, Ref: Trinity Rail-TRLIII 2003-1C, or at such other location in the United States of America as the Indenture Trustee may otherwise direct. All Rent shall be paid by Lessee to the recipient not later than 11:00 a.m. Chicago, Illinois time on the date of such payment in funds consisting of lawful currency of the United States of America, which America in immediately available funds to the recipient not later than 12:00 noon (New York City time) on the date due. All Rent payable to the Lessor (other than Excepted Payments) shall be immediately available. Notwithstanding anything contained in this Lease paid by the Lessee to the contraryLessor at its account at Two International Placx, any amounts received by any Person pursuant Xxxxxx Xxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000, Xxxxxxx Xx.: 0000-014-7, or to distribution from any sucx xxxxx xxace as the Lessor shall notify the Lessee in writing; PROVIDED, HOWEVER, that so long as the Lien of the Accounts shall for all purposes hereof be deemed payment in satisfaction of the related obligation hereunder to which such distribution relates and any failure by LessorLoan Agreement has not been discharged, the Indenture Trustee or any Indemnified Party to receive from the Collateral Agent the full amount of any Lessor hereby irrevocably directs (it being agreed and understood that such distribution measured by reference to Basic Rent, Supplemental Rent or any component thereof direction shall be deemed a failure to have been revoked after the Lien of the Loan Agreement shall have been discharged pursuant to Section 8.1 thereof), and the Lessee agrees, that all Rent (other than Excepted Payments) payable to the Lessor shall be paid by wire transfer directly to the Agent's Account or to such other place as the Agent shall notify the Lessee in writing. Payments constituting Excepted Payments shall be made to the Person entitled thereto at the address for such Person set forth in the Participation Agreement, or to such other place as such Person shall notify the Lessee in writing. (b) Payments made to the Lessor from the Qualifying Security shall satisfy the Lessee's obligation to pay such amounts of Basic Rent or Supplemental Rent hereunder, to the extent of such payments. So long as the case may beLien of the Loan Agreement has not been discharged, no amount paid to the Lessor or the Owner Participant under or with respect to any Qualifying Letter of Credit maintained pursuant to Section 10.1 hereof or Section 7.7 of the Participation Agreement shall satisfy or be treated as performance of any of the Lessee's obligations under this Equipment Operating Lease or any other Operative Document or in any way limit or offset any amounts payable by the Lessee. (c) The Lessee hereby acknowledges and agrees that, anything to the contrary in this Equipment Operating Lease or the Loan Agreement notwithstanding, the Lessee's obligation to pay any Basic Rent, Walk Away Payment, Termination Value and amounts sized by reference to Termination Value under this Equipment Operating Lease (i) shall only be reduced by operation of the provisions of Section 3.3 of the Loan Agreement to the extent that amounts realized on the Collateral or the Payment Undertaking Collateral are actually distributed to or applied in satisfaction of obligations owing to the Lenders or the Lessor and (ii) shall not be reduced by the amount of any distributions to Old Dominion by operation of Section 3.3(c) or (d) of the Loan Agreement.

Appears in 1 contract

Samples: Equipment Operating Lease Agreement (Old Dominion Electric Cooperative)

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