Common use of Retention of Amounts by the Indenture Trustee Clause in Contracts

Retention of Amounts by the Indenture Trustee. If at the time of receipt by the Indenture Trustee of an installment of Periodic Rent (whether or not then overdue) or of payment of interest on any overdue installment of Periodic Rent, there shall have occurred and be continuing a Lease Indenture Event of Default, the Indenture Trustee shall retain such installment of Periodic Rent or payment of interest (to the extent not then required to be distributed pursuant to clause "First" of Section 3.1(a)) as part of the Indenture Estate and shall not distribute any such payment of Periodic Rent or interest pursuant to clause "Second" of Section 3.1(a) until such time as such Lease Indenture Event of Default shall be cured or waived or until such time as the Indenture Trustee shall have received written instructions from a Majority in Interest of Noteholders to make such a distribution; provided that such amounts must be returned to the Owner Lessor within six (6) months from the receipt thereof by the Indenture Trustee unless (i) the Indenture Trustee has declared the unpaid principal of all Lessor Notes due and payable (or such amounts shall have automatically become due and payable), pursuant to Section 4.2(a) and the Indenture Trustee is diligently pursuing any dispossessary remedies available under Section 4.3 hereof (unless such remedies are stayed or prevented by operation of law) or (ii) any other Lease Indenture Event of Default shall have occurred during the intervening period and be continuing, in which case, such six-month period will be restarted from the date such other Lease Indenture Event of Default shall have occurred. Upon the cure or waiver of such Lease Indenture Event of Default, withheld Periodic Rent shall, subject to clause (ii) of the immediately preceding sentence, be distributed to the Owner Lessor (to the extent that all payments to be distributed pursuant to clause "First" of Section 3.1(a) have been made), and no further withholding of Periodic Rent on account of such Lease Indenture Event of Default shall be effected.

Retention of Amounts by the Indenture Trustee. If at the time of receipt by the Indenture Trustee of an installment of Periodic Rent (whether or not then overdue) or of payment of interest on any overdue installment of Periodic Rent, there shall have occurred and be continuing a Lease Indenture Event of Default, the Indenture Trustee shall retain such installment of Periodic Rent or payment of interest (to the extent not then required to be distributed pursuant to clause "First" of Section 3.1(a)) as part of the Indenture Estate and shall not distribute any such payment of Periodic Rent or interest pursuant to clause "Second" of Section 3.1(a) until such time as the Indenture Trustee shall have received notice that there shall not be continuing any such Lease Indenture Event of Default shall be cured or waived or until such time as the Indenture Trustee shall have received written instructions from a Majority in Interest of Noteholders to make such a distribution; provided that such amounts must be returned to the Owner Lessor within six (6) months from the receipt thereof by the Indenture Trustee unless (i) the Indenture Trustee has declared the unpaid principal of all Lessor Notes due and payable (or such amounts shall have automatically become due and payable), pursuant to Section 4.2(a) and the Indenture Trustee is diligently pursuing any dispossessary remedies available under Section 4.3 hereof (unless such remedies are stayed or prevented by operation of law) or (ii) any other Lease Indenture Event of Default shall have occurred during the intervening period and be continuing, in which case, such six-month period will be restarted from the date such other Lease Indenture Event of Default shall have occurred. Upon the cure or waiver of such Lease Indenture Event of Default, withheld Periodic Rent shall, subject to clause (ii) of the immediately preceding sentence, be distributed to the Owner Lessor (to the extent that all payments to be distributed pursuant to clause "First" of Section 3.1(a) have been made), and no further withholding of Periodic Rent on account of such Lease Indenture Event of Default shall be effected.

Retention of Amounts by the Indenture Trustee. If at the time of receipt by the Indenture Trustee of an installment of Periodic Rent (whether or not then overdue) or of payment of interest on any overdue installment of Periodic Rent, there shall have occurred and be continuing a Lease an Indenture Event of Default, the Indenture Trustee shall retain such installment of Periodic Rent or payment of interest (to the extent such installment of Rent or payment of interest is not then required to be distributed pursuant to clause "“First" ” of Section 3.1(a)) as part of the Indenture Estate and shall not distribute any such payment of Periodic Rent or interest pursuant to clause "“Second" ” of Section 3.1(a) until such time as such Lease Indenture Event of Default shall be cured or waived or until such time as the Indenture Trustee shall have received written instructions from a Majority in Interest of Noteholders to make such a distribution; provided that such amounts must be returned to the Owner Lessor within six (6) months from the receipt thereof by the Indenture Trustee unless (i) the Indenture Trustee has declared the unpaid principal of all Lessor Notes due and payable (or such amounts shall have automatically become due and payable), ) pursuant to Section 4.2(a4.3(a) hereof and the Indenture Trustee is diligently pursuing any dispossessary remedies available under Section 4.3 4.3(b) hereof (unless such remedies are stayed or prevented by operation of law) or (ii) any other Lease Indenture Event of Default shall have occurred during the intervening period and be continuing, in which case, such six-month period will be restarted from the date such other Lease Indenture Event of Default shall have occurred. Upon the cure or waiver of such Lease Indenture Event of Default, withheld Periodic Rent shall, subject to clause (ii) of the immediately preceding sentence, be distributed to the Owner Lessor (to the extent that all payments to be distributed pursuant to clause "“First" ” of Section 3.1(a) have been made), and no further withholding of Periodic Rent on account of such Lease Indenture Event of Default shall be effected.

Retention of Amounts by the Indenture Trustee. If at the time of receipt by the Indenture Trustee of an installment any payment in respect of Periodic Base Rent or of Supplemental Rent under Sections 3(b)(ii), 3(b)(iv) or 3(c) of the Lease (whether or not then overdue) or of any payment in respect of interest on any overdue installment of Periodic Base Rent or of Supplemental Rent, or of any payment otherwise distributable pursuant to Section 5.6 or 5.7(a) hereof, there shall have occurred and be continuing a Lease Indenture Covered Default or Covered Event of DefaultDefault of which the Indenture Trustee shall have Actual Knowledge, the Indenture Trustee shall retain such installment of Periodic Rent or payment of interest amount (to the extent not then required to be distributed applied pursuant to clause "First" (a) of Section 3.1(a)5.1 hereof) as part of the Indenture Estate and shall not distribute any invest such payment of Periodic Rent or interest pursuant to clause "Second" amount in accordance with the terms of Section 3.1(a) until 9.10 hereof, and at such time as such Lease Indenture there shall not be continuing a Covered Default or Covered Event of Default shall be cured or waived or until such time as of which the Indenture Trustee shall have received written instructions from Actual Knowledge, the Indenture Trustee shall distribute such amount pursuant to clause (b) of Section 5.1 hereof (or as provided in Section 5.6 or 5.7(a) hereof in the case of any payment distributed pursuant to either such Section); provided, however, that, except during a Majority in Interest of Noteholders to make such a distribution; provided that Lessee OP Restricted Period, any such amounts must be returned to the Owner Lessor within six (6) months from the receipt thereof distributed by the Indenture Trustee unless pursuant to clause (ib) of Section 5.1 hereof (or as provided in Section 5.6 or 5.7(a) hereof in the case of any payment distributed pursuant to either such Section) within 180 days after the occurrence of such Covered Default or Covered Event of Default (or upon receipt of such amounts, if received thereafter) unless, on or prior to such 180th day, (1) the Indenture Trustee has shall have declared the unpaid principal of all Lessor Notes, or the Notes shall be deemed to have been declared, due and payable (or such amounts shall have automatically become due and payable), pursuant to Section 4.2(a6 hereof or (2) and the Indenture Trustee is diligently pursuing any dispossessary remedies available under Section 4.3 hereof (unless such remedies are stayed or prevented by operation of law) or (ii) any other Lease Indenture Event of Default shall have occurred during declared the intervening period Lease to be in default pursuant to Section 16 thereof and be continuing, in which case, such six-month period will be restarted from the date such other Lease Indenture Event of Default shall have occurred. Upon commenced the cure or waiver enforcement of its rights and remedies under such Lease Indenture Event of Default, withheld Periodic Rent shall, subject to clause (ii) of the immediately preceding sentence, be distributed to the Owner Lessor (to the extent that all payments to be distributed pursuant to clause "First" of Section 3.1(a) have been made), and no further withholding of Periodic Rent on account of such Lease Indenture Event of Default shall be effected16.