Receipt Distribution and Application of Funds in the Indenture Estate Sample Clauses
Receipt Distribution and Application of Funds in the Indenture Estate. Section 3.01. [Reserved for Potential Future Use]
Section 3.02. Payment in Case of Redemption or Purchase of Certificates. Except as otherwise provided in Section 3.05, in the event the Certificates are redeemed or purchased in accordance with the provisions of Section 6.01 or 6.02, the Indenture Trustee will apply on the Redemption Date any amounts then held by it in the Indenture Estate and received by it from or on behalf of the Company or the Owner Trustee in the following order of priority: first, so much thereof as was received by the Indenture Trustee with respect to the amounts due to it pursuant to Section 9.06 shall be applied to pay the Indenture Trustee such amounts; second, so much thereof remaining as shall be required to pay an amount equal to the Redemption Price on the Outstanding Certificates pursuant to Section 6.01 or 6.02, as the case may be, on the Redemption Date shall be applied to the redemption or purchase of the Certificates on the Redemption Date; and third, the balance, if any, thereof remaining thereafter shall be distributed to the Owner Trustee to be held or distributed to the Owner Participant in accordance with the terms of the Lease, Participation Agreement and Trust Agreement.
Receipt Distribution and Application of Funds in the Indenture Estate. Section 3.01. [Reserved for Potential Future Use]
Section 3.02. Payment in Case of Redemption or Purchase of -------------------------------------------- Equipment Notes.
(a) So long as the Existing Equipment Notes are Outstanding, in --------------- the event the Equipment Notes [First Amended and Restated Trust Indenture and Security Agreement (1989 I)] are redeemed in accordance with the provisions of Section 6.01 or Section 6.02, the Indenture Trustee will apply on the Redemption Date any amounts then held by it in the Trust Indenture Estate and received by it from Lessee, in the following order of priority: first, so much of such aggregate amount as shall be required to ----- pay the Redemption Price pursuant to Section 6.01 or Section 6.02, as redemption of the Existing Equipment Notes on the Redemption Date; and second, the balance, if any, of such aggregate amount remaining ------ shall be distributed to the Owner Trustee, for distribution in accordance with the terms of the Lease and the Participation Agreement.
(b) On and after the issuance of the Pass Through Equipment Notes, except as otherwise provided in Section 3.05, in the event the Equipment Notes are redeemed or purchased in accordance with the provisions of Section 6.01, the Indenture Trustee will apply on the Redemption Date any amounts then held by it in the Indenture Estate and received by it from or on behalf of the Lessee or the Owner Trustee in the following order of priority: first, so much thereof as was received by the Indenture Trustee ----- with respect to the amounts due to it pursuant to Section 9.06 shall be applied to pay the Indenture Trustee such amounts; second, so much thereof remaining as shall be required to pay an ------ amount equal to the Redemption Price on the Series A-1 Pass Through Equipment Notes pursuant to Section 6.01 on the Redemption Date shall be applied to the redemption or purchase of the Series A-1 Pass Through Equipment Notes on the Redemption Date; third, so much thereof remaining as shall be required to pay an ----- amount equal to the Redemption Price on the Series B Pass Through Equipment Notes pursuant to Section 6.01 on the Redemption Date shall be applied to the redemption or purchase of the Series B Pass Through Equipment Notes on the Redemption Date; fourth, so much thereof remaining as shall be required to pay an ------ amount equal to the Redemption Price on the Series C-2 Pass Through Equipment Notes pursuant to Section 6.01 on the Redem...
Receipt Distribution and Application of Funds in the Indenture Estate