Common use of Rent Distribution Clause in Contracts

Rent Distribution. Except as otherwise provided in Section 3.03 hereof, each installment of Basic Rent, any payment of interest on overdue installments of Basic Rent and any payment received by the Indenture Trustee pursuant to Section 4.03 hereof and pursuant to Section 18(b) or 18(c) of the Participation Agreement shall be promptly distributed in the following order of priority: (i) so much of such installment or payment as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Secured Certificates shall be distributed to the Certificate Holders of Series A ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Secured Certificate bears to the aggregate amount of the payments then due under all Series A Secured Certificates; (ii) after giving effect to paragraph (i) above, so much of such installment or payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Secured Certificates shall be distributed to the Certificate Holders of Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Secured Certificate bears to the aggregate amount of the payments then due under all Series B Secured Certificates; and (iii) after giving effect to paragraph (ii) above, so much of such installment or payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series C Secured Certificates shall be distributed to the Certificate Holders of Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Secured Certificate bears to the aggregate amount of the payments then due under all Series C Secured Certificates; and Second: the balance, if any, of such installment remaining thereafter shall be distributed to the Owner Trustee; provided, however, that if an Event of Default shall have occurred and be continuing, then such balance shall not be distributed as provided in this clause "Second" but shall be held by the Indenture Trustee as part of the Trust Indenture Estate and invested in accordance with Section 5.09 hereof until whichever of the following shall first occur: (i) all Events of Default shall have been cured or waived, in which event such balance shall be distributed as provided in this clause "Second" without reference to this proviso, (ii) Section 3.03 hereof shall be applicable, in which event such balance shall be distributed in accordance with the provisions of such Section 3.03, or (iii) the 120th day after the receipt of such payment in which case such payment shall be distributed as provided in this clause "Second" without reference to this proviso.

Rent Distribution. Except as otherwise provided in Section 3.03 hereof3.3, each installment payment of Basic Rent, Rent under the Lease as well as any payment of interest on overdue installments of Basic Rent under the Lease, and any payment other monies paid over by Lessee or Borrower to Agent for such purpose, shall be distributed as promptly as possible (it being understood that any payments of Basic Rent received by Agent under the Indenture Trustee pursuant to Section 4.03 hereof Lease on a timely basis and pursuant to Section 18(b) or 18(c) in accordance with the provisions of the Participation Agreement Lease shall be promptly distributed on the date received in the funds so received) in the following order of priority: : first, (ia) so much of such installment or payment as shall be required an amount equal to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, (to the extent permitted by applicable law, on any Applicable Laws and Regulations) overdue interest and any other overdue amountsinterest) then due under all Series on the Loans evidenced by the Class A Secured Certificates Notes shall be distributed and paid to the Certificate Holders of Series Lenders holding Class A ratably, without priority of one over the otherNotes pro rata, in the proportion that the unpaid principal amount of Loans evidenced by the Class A Notes held by each such payment or payments then due under each Series Lender bears to the aggregate unpaid balance of the Loans evidenced by the Class A Secured Certificate bears Notes and (b) an amount equal to the aggregate amount of the payments then due under all Series A Secured Certificates; (ii) after giving effect to paragraph (i) above, so much payment of such installment or payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, (to the extent permitted by applicable law, on any Applicable Laws and Regulations) overdue interest and any other overdue amountsinterest) then due under all Series on the Loans evidenced by the Class B Secured Certificates Notes shall be distributed and paid to the Certificate Holders Lenders holding Class B Notes pro rata, in proportion that the unpaid principal amount of Series Loans evidenced by the Class B ratablyNotes held by each such Lender bears to the aggregate unpaid balance of the Loans evidenced by the Class B Notes, in each case, without priority of one Lender or one class over another; second, an amount equal to the otheraggregate amount of principal then due on the Loans evidenced by the Class A Notes shall be paid and distributed to the Lenders holding Class A Notes pro rata among the Lenders holding Class A Notes, without priority of one such Lender over another, in the proportion that the unpaid principal amount of the Loans evidenced by the Class A Notes held by each such payment or payments then due under each Series B Secured Certificate Lender bears to the aggregate unpaid principal amount of the payments then due under all Series B Secured Certificates; and (iii) after giving effect to paragraph (ii) above, so much of such installment or payment remaining as shall be required to pay in full Loans evidenced by the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series C Secured Certificates shall be distributed to the Certificate Holders of Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Secured Certificate bears to the aggregate amount of the payments then due under all Series C Secured CertificatesClass A Notes; and Second: third, the balance, if any, of such installment payment remaining thereafter shall be distributed to the Owner Trustee; provided, however, that if an Event of Default shall have occurred and be continuing, then such balance shall not be distributed as provided in this clause "Second" but shall be held by the Indenture Trustee as part of the Trust Indenture Estate and invested in accordance with Section 5.09 hereof until whichever of the following shall first occur: (i) all Events of Default shall have been cured or waived, in which event such balance shall be distributed as provided in this clause "Second" without reference to this proviso, (ii) Section 3.03 hereof shall be applicable, in which event such balance shall be distributed in accordance with Section 3.2(b) of the provisions of such Section 3.03, or (iii) the 120th day after the receipt of such payment in which case such payment shall be distributed as provided in this clause Trust Agreement."Second" without reference to this proviso.

Rent Distribution. Except as otherwise provided in Section 3.03 hereof, each installment of Basic Rent, any payment of interest on overdue installments of Basic Rent and any payment received by the Indenture Trustee pursuant to Section 4.03 hereof and pursuant to Section 18(b) or 18(c) of the Participation Agreement shall be promptly distributed in the following order of priority: (i) so much of such installment or payment as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Secured Certificates shall be distributed to the Certificate Holders of Series A ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Secured Certificate bears to the aggregate amount of the payments then due under all Series A Secured Certificates; (ii) after giving effect to paragraph (i) above, so much of such installment or payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Secured Certificates shall be distributed to the Certificate Holders of Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Secured Certificate bears to the aggregate amount of the payments then due under all Series B Secured Certificates; and (iii) after giving effect to paragraph (ii) above, so much of such installment or payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series C Secured Certificates shall be distributed to the Certificate Holders of Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Secured Certificate bears to the aggregate amount of the payments then due under all Series C Secured Certificates; and Second: the balance, if any, of such installment remaining thereafter shall be distributed to the Owner Trustee; provided, however, that if an Event of Default shall have occurred and be continuing, then such balance shall not be distributed as provided in this clause "Second" but shall be held by the Indenture Trustee as part of the Trust Indenture Estate and invested in accordance with Section 5.09 hereof until whichever of the following shall first occur: (i) all Events of Default shall have been cured or waived, in which event such balance shall be distributed as provided in this clause "Second" without reference to this proviso, (ii) Section 3.03 hereof shall be applicable, in which event such balance shall be distributed in accordance with the provisions of such Section 3.03, or (iii) the 120th day after the receipt of such payment in which case such payment shall be distributed as provided in this clause "Second" without reference to this proviso.and