Common use of Payments and Distributions Clause in Contracts

Payments and Distributions. In the event of any Proceeding, until all Obligations shall have been indefeasibly paid in full, in cash or cash equivalent, any payment or distribution of any kind or character, whether in cash, property or securities, which, but for the subordination provisions of this Agreement would otherwise be payable or deliverable upon or in respect of Subordinated Claims, shall instead be paid over or delivered to the Lease Indenture Trustee in accordance with Article III and no holder of Subordinated Claims shall receive any such payment or distribution or any benefit therefrom.

Payments and Distributions. In the event of any Proceeding, until all Obligations shall have been indefeasibly paid in full, in cash or cash equivalent, any payment or distribution of any kind or character, whether in cash, property or securities, which, but for the subordination provisions of this Agreement would otherwise be payable or deliverable upon or in respect of Subordinated Claims, shall instead be paid over or delivered to the Lease Indenture Trustee Collateral Agent in accordance with Article III and no holder of Subordinated Claims shall receive any such payment or distribution or any benefit therefrom.

Payments and Distributions. In the event of any Proceeding, until all Obligations shall have been indefeasibly paid in full, in cash or cash equivalentfull and all Commitments shall have been terminated, any payment or distribution of any kind or of character, whether in cash, property or securities, which, which but for the subordination provisions of this Agreement would otherwise be payable or deliverable upon or in respect of Subordinated Claims, shall instead be paid over or delivered to the Lease Indenture Trustee Collateral Agent in accordance with Article III and no holder of Subordinated Claims shall receive any such payment or distribution or any benefit therefrom.