Common use of Non-Insurance Payments Received on Account of an Event of Loss Clause in Contracts

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 amountsAs between the Collateral Agent and the Company, other than insurance proceeds in respect any payments on account of damage or loss not constituting an Event of Loss (other than insurance proceeds or other payments the application of which is provided for in Annex B)Section 3.6 hereof, or elsewhere in this Mortgage, as the case may be, or payments in respect of damage to the business or property, of the Company) with respect to any Airframe, Engine or Part received at any time by the Collateral Agent or by the Company from any Government Entity governmental authority 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 if such amounts payments are received with respect to the Airframean Event of Loss as to any Aircraft, and an Engine the relevant Airframe or the relevant Airframe and Engines or engines installed on the Airframe at the time of such Event of Loss, upon compliance thereon are being replaced by the Company pursuant to Section 3.5(a) hereof, such payments shall be paid over to, or retained by, the Collateral Agent as security and upon completion of such replacement (or upon the closing therefor) and compliance with the applicable terms provisions of Section 3.05(cSections 3.5(a) and (c) with respect to the Event of Loss for which such amounts payments are receivedmade, such amounts shall be paid over to, to or retained by, by the Company; (ii) If if such amounts payments are received with respect to an Engine (other than Event of Loss to an Engine installed on the Airframe at the time the Airframe suffers or Part (not involving an Event of Loss), upon compliance Loss as to an Airframe) that has been or is being replaced by the Company with the applicable terms of pursuant to Section 3.04(e3.4(e) with respect to the Event of Loss for which such amounts are receivedhereof, such amounts payments shall be paid over to, or retained by, the Company; and (iii) If if such amounts payments are received, in whole or in part, received with respect to an Event of Loss as to an Aircraft, if the Airframe, relevant Airframe or the relevant Airframe and the Company makes, Engines or engines installed thereon has made not or is deemed to have made the election set forth in not been and will not be replaced as contemplated by Section 3.05(a)(ii)3.5(a) hereof, such amounts payments 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 prepayment required pursuant to pay in full such sum; Section 3.2(b) of the Credit Agreement and secondthe payment of any other Obligations then due and payable and thereafter, the remainderbalance, if any, of such payment shall be promptly paid to over to, or retained by, the Company.

Non-Insurance Payments Received on Account of an Event of Loss. Any amountsAs between the Collateral Agent and the Company, other than insurance proceeds in respect any payments on account of damage or loss not constituting an Event of Loss (other than insurance proceeds or other payments the application of which is provided for in Annex B)Section 3.6 hereof, or elsewhere in this Mortgage, as the case may be, or payments in respect of damage to the business or property, of the Company) with respect to any Airframe, Engine or Part received at any time by the Collateral Agent or by the Company from any Government Entity govern­mental authority 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 if such amounts payments are received with respect to the Airframean Event of Loss as to any Aircraft, and an Engine the relevant Airframe or the relevant Airframe and Engines or engines installed on the Airframe at the time of such Event of Loss, upon compliance thereon are being replaced by the Company pursuant to Section 3.5(a) hereof, such payments shall be paid over to, or retained by, the Collateral Agent as security and upon completion of such replacement (or upon the closing therefor) and compliance with the applicable terms provisions of Section 3.05(cSections 3.5(a) and (c) with respect to the Event of Loss for which such amounts payments are receivedmade, such amounts shall be paid over to, to or retained by, by the Company; (ii) If if such amounts payments are received with respect to an Engine (other than Event of Loss to an Engine installed on the Airframe at the time the Airframe suffers or Part (not involving an Event of Loss), upon compliance Loss as to an Airframe) that has been or is being replaced by the Company with the applicable terms of pursuant to Section 3.04(e3.4(e) with respect to the Event of Loss for which such amounts are receivedhereof, such amounts payments shall be paid over to, or retained by, the Company; and (iii) If if such amounts payments are received, in whole or in part, received with respect to an Event of Loss as to an Aircraft, if the Airframe, relevant Airframe or the relevant Airframe and the Company makes, Engines or engines installed thereon has made not or is deemed to have made the election set forth in not been and will not be replaced as contemplated by Section 3.05(a)(ii)3.5(a) hereof, such amounts payments 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 prepayment required pursuant to pay in full such sum; Section 3.2(b) of the Credit Agreement and secondthe payment of any other Obligations then due and payable and thereafter, the remainderbalance, if any, of such payment shall be promptly paid to over to, or retained by, the Company.

Non-Insurance Payments Received on Account of an Event of Loss. Any amountsAs between the Collateral Agent and the Company, other than insurance proceeds in respect any payments on account of damage or loss not constituting an Event of Loss (other than insurance proceeds or other payments the application of which is provided for in Annex B)Section 3.6 hereof, or elsewhere in this Mortgage, as the case may be, or payments in respect of damage to the business or property, of the Company) with respect to the Aircraft, an Engine or any Part received at any time by the Collateral Agent or by the Company from any Government Entity governmental authority 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 if such amounts payments are received with respect to an Event of Loss as to the AirframeAircraft, and an Engine installed on the Airframe at or the time of such Event of Loss, upon compliance Airframe and the Engines or engines installed thereon are being replaced by the Company pursuant to Section 3.5(a) hereof, such payments shall be paid over to, or retained by, the Collateral Agent as security and upon completion of such replacement (or upon the closing therefor) and compliance with the applicable terms provisions of Section 3.05(cSections 3.5(a) and (c) with respect to the Event of Loss for which such amounts payments are receivedmade, such amounts shall be paid over to, to or retained by, by the Company; (ii) If if such amounts payments are received with respect to an Engine (other than Event of Loss to an Engine installed on the Airframe at the time the Airframe suffers or Part (not involving an Event of Loss), upon compliance Loss as to the Airframe) that has been or is being replaced by the Company with the applicable terms of pursuant to Section 3.04(e3.4(e) with respect to the Event of Loss for which such amounts are receivedhereof, such amounts payments shall be paid over to, or retained by, the Company; and (iii) If if such amounts payments are received, in whole or in part, received with respect to an Event of Loss as to the AirframeAircraft, if the Airframe or the Airframe and the Company makes, Engines or engines installed thereon has made not or is deemed to have made the election set forth in not been and will not be replaced as contemplated by Section 3.05(a)(ii)3.5(a) hereof, such amounts payments shall be applied as follows: first, if to the sum described in prepayment of the Notes required pursuant to Section 3.05(a)(ii2.8(b) has not of the Credit Agreement and the payment of any other Obligations then due and payable and after the Notes and such other Obligations shall have 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 secondfull, the remainderbalance, if any, of such payment shall be promptly paid to over to, or retained by, the Company.

Non-Insurance Payments Received on Account of an Event of Loss. Any amountsAs between the Collateral Agent and the Company, other than insurance proceeds in respect any payments on account of damage or loss not constituting an Event of Loss (other than insurance proceeds or other payments the application of which is provided for in Annex B)Section 3.6 hereof, or elsewhere in this Mortgage, as the case may be, or payments in respect of damage to the business or property, of the Company) with respect to any Airframe, Engine or Part received at any time by the Collateral Agent or by the Company from any Government Entity governmental authority 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 if such amounts payments are received with respect to the Airframean Event of Loss as to any Aircraft, and an Engine the relevant Airframe or the relevant Airframe and Engines or engines installed on the Airframe at the time of such Event of Loss, upon compliance thereon are being replaced by the Company pursuant to Section 3.5(a) hereof, such payments shall be paid over to, or retained by, the Collateral Agent as security and upon completion of such replacement (or upon the closing therefor) and compliance with the applicable terms provisions of Section 3.05(cSections 3.5(a) and (c) with respect to the Event of Loss for which such amounts payments are receivedmade, such amounts shall be paid over to, to or retained by, by the Company; (ii) If if such amounts payments are received with respect to an Engine (other than Event of Loss to an Engine installed on the Airframe at the time the Airframe suffers or Part (not involving an Event of Loss), upon compliance Loss as to an Airframe) that has been or is being replaced by the Company with the applicable terms of pursuant to Section 3.04(e3.4(e) with respect to the Event of Loss for which such amounts are receivedhereof, such amounts payments shall be paid over to, or retained by, the Company; and (iii) If if such amounts payments are received, in whole or in part, received with respect to an Event of Loss as to an Aircraft, if the Airframe, relevant Airframe or the relevant Airframe and the Company makes, Engines or engines installed thereon has made not or is deemed to have made the election set forth in not been and will not be replaced as contemplated by Section 3.05(a)(ii)3.5(a) hereof, such amounts payments 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 prepayment required pursuant to pay in full such sum; Section 4.02(e) of the Credit Agreement and secondthe payment of any other Obligations then due and payable and thereafter, the remainderbalance, if any, of such payment shall be promptly paid to over to, or retained by, the Company.