Non-Insurance Payments Received on Account of an Event of Loss. Any amounts, other than insurance proceeds in respect of damage or loss not constituting an Event of Loss (the application of which is provided for in Annex B), received at any time by Mortgagee or Owner from any Government Entity or any other Person in respect of any Event of Loss will be applied as follows:
(i) If such amounts are received with respect to the Airframe, and any Engine installed thereon at the time of such Event of Loss, upon compliance by Owner with the applicable terms of Section 4.05(c) with respect to the Event of Loss for which such amounts are received, such amounts shall be paid over to, or retained by, Owner;
(ii) If such amounts are received with respect to an Engine (other than an Engine installed on the Airframe at the time such Airframe suffers an Event of Loss), upon compliance by Owner with the applicable terms of Section 4.04(e) with respect to the Event of Loss for which such amounts are received, such amounts shall be paid over to, or retained by, Owner;
(iii) If such amounts are received, in whole or in part, with respect to the Airframe, and Owner makes, has made or is deemed to have made the election set forth in Section 4.05(a)(ii), such amounts shall be applied as follows: first, if the sum described in Section 4.05(a)(ii) has not then been paid in full by Owner, such amounts shall be paid to Mortgagee to the extent necessary to pay in full such sum; and second, the remainder, if any, shall be paid to Owner.
Non-Insurance Payments Received on Account of an Event of Loss. Any amounts, other than insurance proceeds in respect of damage or loss not constituting an Event of Loss (the application of which is provided for in Annex B), received at any time by the Collateral Agent or the Company from any Government Entity or any other Person in respect of any Event of Loss shall be held by, or (unless the Company shall be entitled to retain such amounts as provided below) paid over to, the Collateral Agent and will be applied as follows:
(i) If such amounts are received with respect to the Airframe, and an Engine installed on the Airframe at the time of such Event of Loss, upon compliance by the Company with the applicable terms of Section 3.05(c) with respect to the Event of Loss for which such amounts are received, such amounts shall be paid over to, or retained by, the Company;
(ii) If such amounts are received with respect to an Engine (other than an Engine installed on the Airframe at the time the Airframe suffers an Event of Loss), upon compliance by the Company with the applicable terms of Section 3.04(e) with respect to the Event of Loss for which such amounts are received, such amounts shall be paid over to, or retained by, the Company; and
(iii) If such amounts are received, in whole or in part, with respect to the Airframe, and the Company makes, has made or is deemed to have made the election set forth in Section 3.05(a)(ii), such amounts shall be applied as follows: first, if the sum described in Section 3.05(a)(ii) has not then been paid in full by the Company, such amounts shall be applied by the Collateral Agent to the extent necessary to pay in full such sum; and second, the remainder, if any, shall be paid to the Company.
Non-Insurance Payments Received on Account of an Event of Loss. Any amounts, other than insurance proceeds in respect of damage or loss not constituting an Event of Loss (the application of which is provided for in Annex B), received at any time by
Non-Insurance Payments Received on Account of an Event of Loss. Any amounts, other than insurance proceeds in respect of damage or loss not constituting an Event of Loss (the application of which is provided for in Annex B), received at any time by the Administrative Agent or the Borrower from any Governmental Authority or any other Person in respect of any Event of Loss shall be applied, paid or released in accordance with Section 2.12 of the Credit Agreement and, as to insurance proceeds, Annex B hereto (and, to the extent required under such Section 2.12 of the Credit Agreement or such Annex B hereto, shall be held by, or paid over to, the Administrative Agent pending such application, payment or release).
Non-Insurance Payments Received on Account of an Event of Loss. Any amounts, other than insurance proceeds in respect of damage or loss not constituting an Event of Loss, received at any time by the Administrative Agent or the Borrower from any government entity or any other Person in respect of any Event of Loss will be applied in prepayment of the Credit Facility to the extent (but only to the extent) such prepayment is required in order for the Borrower to continue to comply with the Financial Covenants. Any such prepayment shall be made together with interest thereon, breakfunding costs and the costs and expenses provided for in Section 14.5.
Non-Insurance Payments Received on Account of an Event of Loss. As between the Lessor and the Lessee, any payments on account of an Event of Loss (other than insurance proceeds or other payments the application of which is provided for in this Section 11 or elsewhere in the Lease, as the case may be, or payments in respect of damage to the business or property of the Lessee) with respect to the Engine received at any time by the Lessor or by the Lessee from any Government Entity or other Person will be applied as follows:
(a) so much of such payments as shall not exceed the amounts required to be paid by the Lessee pursuant to Section 11.1(b) hereof shall be applied in reduction of the Lessee's obligation to pay such amounts, to the extent not already paid by the Lessee, and, after such amounts required to be paid to the Lessor pursuant to Section 11.1(b) above shall be paid in full, shall be applied to reimburse the Lessee for such amounts up to the full amount thereof, and
(b) the balance, if any, of such payment remaining thereafter shall be applied to reimburse the Lessee and the Lessor for their reasonable costs (including reasonable attorney's fees), if any, of procuring such payments, and
(c) the balance remaining, if any, shall then be distributed between the Lessor and the Lessee as their interests may appear.
Non-Insurance Payments Received on Account of an Event of Loss. Any payments on account of an Event of Loss (other than proceeds of insurance maintained or paid for by the Head Lessee) with respect to the Facility received at any time by the User Head Lessor, the Head Lessor, the Head Lessee, the Lessee, or any permitted sublessee or any other Person from any Governmental Authority or other Person during the Lease Term shall be paid in accordance with the provisions of Section 9(b) of the Lease. After the Lease Term, the Head Lessee shall be entitled to all such payments on account of an Event of Loss. Any payments with respect to the Facility received by the User Head Lessor, the Head Lessor, the Head Lessee, the Lessee, or any permitted sublessee or any other Person from any Governmental Authority or other Person during the Lease Term with respect to damage to or interference with the use or operation of the Facility, not constituting an Event of Loss with respect to the Facility, shall be paid over to, or retained by, the Head Lessee, subject to the rights (if any) therein of the Lessee or any permitted sublessee.
Non-Insurance Payments Received on Account of an Event of Loss. As between the Lessor and the Lessee, any payments on account of an Event of Loss (other than insurance proceeds or other payments the application of which is provided for in this Section 8 or elsewhere in this Lease, as the case may be, or payments in respect of damage to the business or property of the Lessee) with respect to the Aircraft, an Engine or any Part received at any time by the Lessor or by the Lessee from any governmental authority or other Person will be applied as follows:
(i) if such payments are received with respect to an Event of Loss as to the Aircraft, and the Airframe or the Airframe and the Engines or engines installed thereon are being replaced by the Lessee pursuant to Section 8(a)(i), such payments shall be paid over to, or retained by, the Lessee, provided that if the Lessee has not completed such replacement, such payments shall be paid over to, or retained by, the Lessor as security, and upon completion of, or in connection with a closing for, such replacement, be paid over to or retained by the Lessee;
(ii) if such payments are received with respect to an Event of Loss to an Engine or Part that has been or is being replaced by the Lessee pursuant to the terms hereof, such payments shall be paid over to, or retained by, the Lessee; and
Non-Insurance Payments Received on Account of an Event of Loss. As between Agent and Grantor, any payments on account of an Event of Loss (other than insurance proceeds, condemnation awards, or other payments the application of which is provided for in this Section 3.4, or elsewhere in this Security Agreement, as the case may be, or payments in respect of damage to the business or property of Grantor) with respect to any Aircraft, any Engine, any Rotor Blade, any Rotor, or any Part received at any time by Agent or by Grantor from any governmental authority or other Person will be applied as follows:
(i) in respect of any property damage or loss constituting an Event of Loss, for which Grantor does not elect, pursuant to Section 3.4(a)(i), to provide a Replacement Airframe (together with the same number of Replacement Engines as the number of Engines, if any, which were subject to such Event of Loss), such payments shall be paid over to Agent and applied by Agent in accordance with the priority of payments set forth in Section 2.4(b) of the Credit Agreement; and
(ii) in respect of any property damage or loss constituting an Event of Loss, for which Grantor does elect, pursuant to Section 3.4(a)(i), to provide a Replacement Airframe (together with the same number of Replacement Engines as the number of Engines, if any, which were subject to such Event of Loss), such payments shall be paid over to and held in an account for which Agent is the depository bank or that is subject to a Control Agreement in favor of Agent, and shall be applied to pay (or to reimburse Grantor) for such Replacement Airframe and Replacement Engines, and any remaining amounts shall be applied in accordance with the priority of payments set forth in Section 2.4(b) of the Credit Agreement.
Non-Insurance Payments Received on Account of an Event of Loss. Any amounts, other than insurance proceeds in respect of damage or loss not constituting an Event of Loss, received at any time by the Administrative Agent or the Borrower from any government entity or any other Person in respect of any Event of Loss will be applied in prepayment of the Credit Facility to the extent (but only to the extent) such prepayment is required in order for the Borrower to continue to comply with the covenants in Sections 10.1(a)(xvi) through (xxi) of this Agreement. Any such prepayment shall be made together with interest thereon, breakfunding costs and the costs and expenses provided for in Section 14.5.
