Common use of Proceeds of Leased Property Clause in Contracts

Proceeds of Leased Property. Any payments received by the Lessor or the Agent when an Event of Default exists (or has ceased to exist by reason of a rejection of the Lease in a proceeding with respect to a Lessee described in Article XII(f) of the Lease), as (i) proceeds from the sale of any or all of the Leased Property sold pursuant to the exercise of the Lessor's remedies pursuant to Article XIII of the Lease, or (ii) proceeds of any amounts from any insurer or any Governmental Authority in connection with an Event of Loss or Event of Taking shall if received by the Lessor be paid to the Agent as promptly as possible, and shall be distributed or applied in the following order of priority prior to the Release Date: first, to the Agent for any amounts reasonably expended by it in connection with such Leased Property or the Operative Documents and not previously reimbursed to it; second, to the Lenders pro rata for application to their Funding Party Balances in respect of all of the Leased Properties, an amount equal to such Funding Party Balances; third, to the Lessor for application to its Funding Party Balances in respect of all of the Leased Properties, an amount equal to such Funding Party Balances; and fourth, to the related Lessee or the Person or Persons otherwise legally entitled thereto, the excess, if any.

Proceeds of Leased Property. Any payments received by the Lessor or the Agent when an Event of Default exists (or has ceased to exist by reason of a rejection of the Lease in a proceeding with respect to a Lessee described in Article XII(fXII(k) or (l) of the Lease), as (i) proceeds from the sale of any or all of the Leased Property sold pursuant to the exercise of the Lessor's remedies pursuant to Article XIII of the Lease, or (ii) proceeds of any amounts from any insurer or any Governmental Authority in connection with an Event of Loss or Event of Taking shall if received by the Lessor be paid to the Agent as promptly as possible, and shall be distributed or applied in the following order of priority prior to the Release Date: first, to the Agent for any amounts reasonably expended by it in connection with such Leased Property or the Operative Documents and not previously reimbursed to it; second, to the Lenders Funding Parties pro rata in accordance with, and for application to to, their respective Funding Party Balances in respect of all such Leased Property or Properties (including both that portion of the A Loans and that portion of the B Loans allocated to such Leased Property or Properties); third, to the Funding Parties pro rata for application to any other amount owing to the Funding Parties under the Operative Documents, an amount equal to such Funding Party Balances; third, to the Lessor for application to its Funding Party Balances in respect of all of the Leased Properties, an amount equal to such Funding Party Balancesother amounts; and fourth, to the related Lessee or the Person or Persons otherwise legally entitled thereto, the excess, if any.

Proceeds of Leased Property. Any payments received by the Lessor --------------------------- or the Agent when an Event of Default exists (or has ceased to exist by reason of a rejection of the Lease in a proceeding with respect to a the Lessee described in Article XII(f) or (g) of the Lease), as (i) proceeds from the sale of any or all of the Leased Property sold pursuant to the exercise of the Lessor's remedies pursuant to Article XIII of the Lease, or (ii) proceeds of any amounts from any insurer or any Governmental Authority in connection with an Event of Loss or Event of Taking shall if received by the Lessor be paid to the Agent as promptly as possible, and shall be distributed or applied by the Agent in the following order of priority prior to the Release Date: first, to the Agent for any amounts reasonably expended by it in ----- connection with such any Leased Property or the Operative Documents and not previously reimbursed to it; second, to the Lenders pro rata for application to their Funding Party Balances in respect of all of the Leased PropertiesProperties (first to accrued and unpaid interest, second to outstanding principal and third to outstanding fees and expenses), an amount equal to such Funding Party Balancesthe outstanding principal, and accrued interest on, the Loans; third, to the Lessor for application to its Funding Party ----- Balances in respect of all of the Leased Properties, an amount equal to such Funding Party Balances; and fourth, to the related Indemnified Parties, on a pro rata basis, for ------ --- ---- any other amounts due to them under the Operative Documents; and fifth, to the Lessee or the Person or Persons otherwise ----- legally entitled thereto, the excess, if any; and on and after such Release Date such amounts shall be paid over to the Lessor and shall be distributed or applied by the Lessor, first to the Lessor for application to any amounts owed to it in respect of such Leased Property, and second to the Lessee or the Person or Persons otherwise legally entitled thereto, the excess, if any.

Proceeds of Leased Property. Any payments received by the Lessor or the Agent Lender when an Event of Default exists (or has ceased to exist by reason of a rejection of the Lease in a proceeding with respect to a the Lessee described in Article XII(fXIII(g) of the Lease), asas either or both: (i) proceeds from the sale of any or all of the Leased Property sold pursuant to the exercise of the Lessor's remedies pursuant to Article XIII XIV of the Lease, ; or (ii) proceeds of any amounts from any insurer or any Governmental Authority in connection with an Event of Loss or Event of Taking shall Loss; shall, if received by the Lessor Lessor, be paid to the Agent Lender as promptly as possible, and shall be distributed or applied in the following order of priority prior to the Release Date: first, to the Agent Lender for any amounts reasonably expended by it in connection with such the Leased Property or the Operative Documents and not previously reimbursed to it; second, to the Lenders pro rata Lender for application to their Funding Party Balances the accrued and unpaid interest on, Breakage Costs, if any, and the outstanding principal of, the Loan; third, to the Lessor in respect of all of the Leased Properties, an amount equal to the sum of (i) all Facility Rent due and unpaid under the Lease as of and prorated to the date of payment, plus (ii) the outstanding balance of the Contribution, plus (iii) any unpaid Supplemental Rent or unpaid portion of the Lease Balance; and fourth, to the Person or Persons legally entitled thereto, the excess, if any; and on and after the Release Date such Funding Party Balances; thirdamounts shall be paid over to the Lessor and shall be distributed by the Lessor first, to the Lessor for application to its Funding Party Balances in respect of all of any unpaid amounts owing to the Leased PropertiesLessor under the Operative Documents, an amount equal to such Funding Party Balances; and fourthsecond, to the related Lessee or the Person or Persons otherwise legally entitled thereto, the excess, if any.

Proceeds of Leased Property. Any payments received by the Lessor or the Agent Lender when an Event of Default exists (or has ceased to exist by reason of a rejection of the Lease in a proceeding with respect to a the Lessee described in Article XII(fXIII(g) of the Lease), asas either or both: (i) proceeds from the sale of any or all of the Leased Property sold pursuant to the exercise of the Lessor's remedies pursuant to Article XIII XIV of the Lease, ; or (ii) proceeds of any amounts from any insurer or any Governmental Authority in connection with an Event of Loss or Event of Taking shall Taking; shall, if received by the Lessor Lessor, be paid to the Agent Lender as promptly as possible, and shall be distributed or applied in the following order of priority prior to the Release Date: first, to the Agent Lender for any amounts reasonably expended by it in connection with such the Leased Property or the Operative Documents and not previously reimbursed to it; second, to the Lenders pro rata Lender for application the accrued and unpaid interest on the Note; third, to their Funding Party Balances in respect of all the Lender for Breakage Costs, if any, fourth, to the Lender for the outstanding principal of the Leased PropertiesNote; fifth, to the Lessor in an amount equal to the sum of (i) all accrued and unpaid Contribution Return prorated to the date of payment, plus (ii) the outstanding balance of the Contribution, plus (iii) any unpaid Supplemental Rent or unpaid portion of the Lease Balance; and sixth, to the Person or Persons legally entitled thereto, the excess, if any; and on and after the Release Date such Funding Party Balances; thirdamounts shall be paid over to the Lessor and shall be distributed by the Lessor first, to the Lessor for application to its Funding Party Balances in respect of all of any unpaid amounts owing to the Leased PropertiesLessor under the Operative Documents, an amount equal to such Funding Party Balances; and fourthsecond, to the related Lessee or the Person or Persons otherwise legally entitled thereto, the excess, if any.

Proceeds of Leased Property. Any payments received by the Lessor or --------------------------- the Agent when an Event of Default exists (or has ceased to exist by reason of a rejection of the Lease in a proceeding with respect to a Lessee described in Article XII(fXII (g) of the Lease), as (i) proceeds from the sale of any or all of the Leased Property sold pursuant to the exercise of the Lessor's remedies pursuant to Article XIII of the Lease, or (ii) proceeds of any amounts from any insurer or any Governmental Authority in connection with an Event of Loss or Event of Taking shall if received by the Lessor be paid to the Agent as promptly as possible, and shall be distributed or applied in the following order of priority prior to the Release Date: first, to the Agent for any amounts reasonably expended by it in ----- connection with such Leased Property or the Operative Documents and not previously reimbursed to it; second, to the Lenders Funding Parties pro rata for application to their Funding Party Balances in respect of all of the Leased Properties, an amount equal to such Funding Party Balances; third, to the Lessor for application to its ------ --- ---- Funding Party Balances in respect of all of the Leased Properties, an amount equal to such Funding Party Balances; and fourththird, to the related Lessee or the Person or Persons otherwise ----- legally entitled thereto, the excess, if any; and on and after such Release Date (and any application otherwise required under this Section 3 has been made) such amounts shall be paid over to the Lessor and --------- shall be distributed or applied by the Lessor, first to the Lessor for ----- application to any amounts owed to it in respect of such Leased Property, and second to the related Lessee or the Person or Persons otherwise legally entitled ------ thereto, the excess, if any.

Proceeds of Leased Property. Any payments received by the Lessor or the Agent when an Event of Default exists (or has ceased to exist by reason of a rejection of the Lease in a proceeding with respect to a Lessee described in Article XII(f) of the Lease)exists, as (i) proceeds from the sale of any or all of the Leased Property sold pursuant to the exercise of the Lessor's ’s remedies pursuant to Article XIII of the Lease, or (ii) proceeds of any amounts from any insurer or any Governmental Authority in connection with an Event of Loss or Event of Taking shall if received by the Lessor be paid to the Agent as promptly as possible, and shall be distributed or applied in the following order of priority prior to the Release Datepriority: first, to the Agent for any amounts reasonably expended by it in connection with such Leased Property or the Operative Documents and not previously reimbursed to it; second, to the Lenders and the Lessor pro rata for application to all accrued and unpaid interest and Yield on, and outstanding principal of, their Funding Party Balances Loans and the Allocated Amount in respect of all of the Leased Properties, an amount equal to all accrued and unpaid interest and Yield on, and outstanding principal of, such Funding Party BalancesLoans and the Allocated Amount; third, to the Lessor Funding Parties pro rata for application to its any other amount owing to the Funding Party Balances in respect of all of Parties under the Leased Properties, an amount equal to such Funding Party BalancesOperative Documents; and fourth, to the related Lessee or the Person or Persons otherwise legally entitled thereto, the excess, if any.

Proceeds of Leased Property. Any payments received by the Lessor or the Agent when an Event of Default exists (or has ceased to exist by reason of a rejection of the Lease in a proceeding with respect to a the Lessee described in Article XII(fXII(g) of the Lease), as (i) proceeds from the sale of any or all of the Leased Property sold pursuant to the exercise of the Lessor's remedies pursuant to Article XIII of the Lease, or (ii) proceeds of any amounts from any insurer or any Governmental Authority in connection with an Event of Loss or Event of Taking shall if received by the Lessor be paid to the Agent as promptly as possible, and shall be distributed or applied in the following order of priority prior to the Release Date: first, to the Agent for any amounts reasonably expended by it in connection with such Leased Property or the Operative Documents and not previously reimbursed to it; second, to the Lenders pro rata for application to their Funding Party Balances in respect of all of the such Leased PropertiesProperty, an amount equal to such Funding Party BalancesBalances in respect of such Leased Property; third, to the Lessor for application to its Funding Party Balances Balance in respect of all of the such Leased Properties, an amount equal to such Funding Party BalancesProperty; and fourth, to the related Lessee or the Person or Persons otherwise legally entitled thereto, the excess, if any; and on and after such Release Date such amounts shall be paid over to the Lessor and shall be distributed or applied by the Lessor, first to the Lessor for application to any amounts owed to it in respect of such Leased Property, and second to the Lessee or the Person or Persons otherwise legally entitled thereto, the excess, if any.

Proceeds of Leased Property. Any payments received by the Lessor or the Agent when an Event of Default exists (or has ceased to exist by reason of a rejection of the Lease in a proceeding with respect to a the Lessee described in Article XII(f) or (g) of the Lease), as (i) proceeds from the sale of any or all of the Leased Property sold pursuant to the exercise of the Lessor's remedies pursuant to Article XIII of the Lease, or (ii) proceeds of any amounts from any insurer or any Governmental Authority in connection with an Event of Loss or Event of Taking shall if received by the Lessor be paid to the Agent as promptly as possible, and shall be distributed or applied in the following order of priority prior to the Release Date: first, to the Agent for any amounts reasonably expended by it in connection with such any Leased Property or the Operative Documents and not previously reimbursed to it; second, to the Lenders pro rata for application to their Funding Party Balances in respect of all of the Leased PropertiesLoans (first to outstanding principal and second to accrued and unpaid interest), an amount equal to such Funding Party Balancesthe outstanding principal, and accrued interest on, the Loans; third, to the Lessor for application to its Funding Party Balances in respect of all of the Leased Properties, an amount equal to such Funding Party Balances; and fourth, to the related Indemnified Parties, on a pro rata basis, for any other amounts due to them under the Operative Documents; and fifth, to the Lessee or the Person or Persons otherwise legally entitled thereto, the excess, if any; and on and after such Release Date such amounts shall be paid over to the Lessor and shall be distributed or applied by the Lessor, first to the Lessor for application to any amounts owed to it in respect of such Leased Property, and second to the Lessee or the Person or Persons otherwise legally entitled thereto, the excess, if any.

Proceeds of Leased Property. Any payments received by the Lessor or the Agent when an Event of Default exists (or has ceased to exist by reason of a rejection of the Lease in a proceeding with respect to a Lessee described in Article XII(f) of the Lease)exists, as (i) proceeds from the sale of any or all of the Leased Property sold pursuant to the exercise of the Lessor's remedies pursuant to Article XIII of the Lease, or (ii) proceeds of any amounts from any insurer or any Governmental Authority in connection with an Event of Loss or Event of Taking shall if received by the Lessor be paid to the Agent as promptly as possible, and shall be distributed or applied in the following order of priority prior to the Release Datepriority: first, to the Agent for any amounts reasonably expended by it in connection with such Leased Property or the Operative Documents and not previously reimbursed to it; second, to the Lenders and the Lessor pro rata for application to all accrued and unpaid interest and Yield on, and outstanding principal of, their Funding Party Balances Loans and the Allocated Amount in respect of all of the Leased Properties, an amount equal to all accrued and unpaid interest and Yield on, and outstanding principal of, such Funding Party BalancesLoans and the Allocated Amount; third, to the Lessor for application to its Funding Party Balances Net Invested Amount in respect of all of the Leased Properties, together with all accrued and unpaid Yield thereon, an amount equal to such Net Invested Amount and accrued and unpaid Yield thereon; fourth, to the Funding Party BalancesParties pro rata for application to any other amount owing to the Funding Parties under the Operative Documents; and fourthfifth, to the related Lessee or the Person or Persons otherwise legally entitled thereto, the excess, if any.

Proceeds of Leased Property. Any payments received by the Lessor or the Agent when an Event of Default exists (or has ceased to exist by reason of a rejection of the Lease in a proceeding with respect to a the Lessee described in Article XII(f) or (g) of the Lease), as (i) proceeds from the sale of any or all of the Leased Property sold pursuant to the exercise of the Lessor's remedies pursuant to Article XIII of the Lease, or (ii) proceeds of any amounts from any insurer or any Governmental Authority in connection with an Event of Loss or Event of Taking shall if received by the Lessor be paid to the Agent as promptly as possible, and shall be distributed or applied by the Agent in the following order of priority prior to the Release Date: first, to the Agent for any amounts reasonably expended by it in connection with such any Leased Property or the Operative Documents and not previously reimbursed to it; second, to the Lenders pro rata for application to their Funding Party Balances in respect of all of the Leased PropertiesProperties (first to accrued and unpaid interest, second to outstanding principal and third to outstanding fees and expenses), an amount equal to such Funding Party Balancesthe outstanding principal, and accrued interest on, the Loans; third, to the Lessor for application to its Funding Party Balances in respect of all of the Leased Properties, an amount equal to such Funding Party Balances; and fourth, to the related Indemnified Parties, on a pro rata basis, for any other amounts due to them under the Operative Documents; and fifth, to the Lessee or the Person or Persons otherwise legally entitled thereto, the excess, if any; and on and after such Release Date such amounts shall be paid over to the Lessor and shall be distributed or applied by the Lessor, first to the Lessor for application to any amounts owed to it in respect of such Leased Property, and second to the Lessee or the Person or Persons otherwise legally entitled thereto, the excess, if any.