Remarketing Proceeds. All proceeds of any Remarketing, net of sales, -------------------- use, property, excise, ad valorem, or similar taxes ("Remarketing Proceeds") -------------------- shall be SBCC's property and shall, except as provided under Section 11(c), if received by Viisage, be immediately remitted to SBCC by Viisage, in the form in which they were received. Except for Systems Remarketed pursuant to Section 11(c), Viisage will be entitled to retain out of Remarketing Proceeds for any System the amount of Viisage's direct costs of Remarketing for such System (including sales commissions) up to five percent (5%) of the original purchase price paid by SBCC for such System, plus (ii) such of Viisage's documented direct costs as have been approved by SBCC and incurred in connection with the services covered under Section 11(d) and Section11(e). Viisage will not be entitled to any additional Remarketing Proceeds except as provided under Section 11(m) or as otherwise agreed by SBCC in writing.
Remarketing Proceeds. To the extent the Remarketing Agent has remarketed Series A Notes and has received funds representing a payment for such Series A Notes (the "Remarketing Proceeds") from the purchasers thereof, the Remarketing Agent will promptly forward the Remarketing Proceeds by wire transfer (or in such other manner as is acceptable to the Remarketing Agent) to the holders tendering such Series A Notes for purchase (or, if required pursuant to Section 3.08(b) of the Series A Note Agreement, to the Paying Agent). Except as otherwise provided below with respect to Bank Notes, until such transfer, all such Remarketing Proceeds shall be deposited in a separate, segregated account of the Remarketing Agent (or, if transferred to the Paying Agent as provided in the Series A Note Agreement, in a separate, segregated account of the Paying Agent) for application in accordance with the applicable provisions of Section 3.08(b) of the Series A Note Agreement, and until so applied shall be held in trust for the benefit of the holders tendering such Series A Notes for purchase. Notwithstanding any provision to the contrary herein or in the Series A Note Agreement, for so long as the Series A Notes are held pursuant to a book-entry system maintained by DTC, payments of Remarketing Proceeds with respect to such Series A Notes shall be made pursuant to the rules and procedures established by DTC and its Participants.
Remarketing Proceeds. All proceeds of any Remarketing, net -------------------- of sales, use, property, excise, ad valorem, or similar taxes ("Remarketing Proceeds") shall be Buyer's property and shall, if ------------------------ received by Seller, be immediately remitted to Buyer by Seller, in the form in which they were received. However, Seller will be entitled to receive such of its documented out-of-pocket costs as have been approved by Buyer and incurred in connection with the Remarketing of such Equipment, but in no event will the aggregate of such amounts (exclusive of Equipment transportation costs) recoverable by Seller with respect to any item of Equipment exceed thirty percent (30%) of the Remarketing Proceeds for such Equipment.
Remarketing Proceeds. Remarketing Proceeds shall have the -------------------- meaning given to such term in Section 13.3 hereof.
Remarketing Proceeds. Remarketing Proceeds shall mean the -------------------- gross proceeds of resale or re-lease of any Equipment. The gross proceeds of any re-lease of Equipment shall be calculated on a present value basis using the formula set forth in the definition of Purchase Price. Any Remarketing Proceeds in excess of the Net Investment Value realized upon any sale or releasing of any Equipment shall be divided between DVI and ADAC as follows: ten percent (10%) to DVI, ninety percent (90%) to ADAC.
Remarketing Proceeds. All proceeds of any Remarketing, net -------------------- of sales, use, property, excise, ad valorem, or similar taxes ("Remarketing Proceeds") ----------------------
Remarketing Proceeds. To the extent the Remarketing Agent has remarketed Series A Notes and has received Remarketing Proceeds from the purchasers thereof, the Remarketing Agent will promptly forward the Remarketing Proceeds by wire transfer (or in such other manner as is acceptable to the Remarketing Agent) to the holders tendering such Series A Notes for purchase (or, if required pursuant to Section 3.08(b), to the Paying Agent). Except as otherwise provided below with respect to Bank Notes, until such transfer, all such Remarketing Proceeds shall be deposited in a separate, segregated account of the Remarketing Agent (or, if transferred to the Paying Agent, in a separate, segregated account of the Paying Agent) for application in accordance with the provisions of this Section 3.08, and until so applied shall be held for the benefit of the holders tendering such Series A Notes for purchase. Upon the reasonable written request of the Borrower, the Remarketing Agent (and the Paying Agent, if applicable) shall provide to the Borrower evidence that all Remarketing Proceeds have been maintained in a separate, segregated account. If within ten Business Days of the aforementioned request by Borrower, the Paying Agent cannot provide evidence that Remarketing Proceeds have been segregated, or if the Remarketing Proceeds have been commingled with other moneys, the Borrower shall be entitled, in either case, to remove the Paying Agent without obtaining the consent of the Bank or any other party. Notwithstanding any provision to the contrary herein, for so long as the Series A Notes are held pursuant to a book-entry system maintained by DTC, payments of Remarketing Proceeds with respect to such Series A Notes shall be made pursuant to the rules and procedures established by DTC and its Participants.
Remarketing Proceeds. None of the proceeds obtained in connection with the remarketing and sale of Equipment from a non-defaulted Lease pursuant to the Remarketing Agreement shall be used in any way for Reserve Pool purposes. In the event of a Lease default, the net proceeds of any remarketing shall be applied to the Reserve Pool in accordance with Section 4 (a) of the Remarketing Agreement.
Remarketing Proceeds. On each Settlement Date, Remarketing Proceeds from the immediately preceding month shall be remitted as follows:
(i) FIRST, to the Residual Lender in payment of Residual Interest due and payable on such Settlement Date to the extent such Residual Interest has not been paid with other funds of the Borrower available for such purpose;
(ii) SECOND, to the Residual Lender in payment of the outstanding principal amount of the Residual Advance made in connection with the Residual Lease Pool containing the Lease which relates to the Remarketed Equipment giving rise to such Remarketing Proceeds;
(iii) THIRD, to the Residual Lender, until the Residual Advances have been paid in full, to the extent such Remarketing Proceeds include Excess Remarketing Proceeds, 50% of such Excess Remarketing Proceeds shall be applied to the Residual Advances which relate to Residual Lease Pools which contain Leases having the earliest maturity dates; and
(iv) FOURTH, any Remarketing Proceeds (including Excess Remarketing Proceeds) remaining after the payment in full of the amounts described in clauses (i) and (iii) above shall be remitted to the Borrower.
Remarketing Proceeds. For purposes of clarification, any proceeds derived with respect to the Off-Lease Aircraft (including, without limitation, any Net Liquidation Proceeds arising from a Defaulted Contract), shall be deemed “Contract Receivables” and disbursed in accordance with the provisions of Section 5.11 of this Agreement. Additionally, any and all such proceeds so derived with respect to the Off-Lease Aircraft shall be subject to the Servicing Fee in accordance with the provisions of Section 5.07 of this Agreement.
