Common use of Application in Default Clause in Contracts

Application in Default. Any amount referred to in Sections 8.4(a) or (b) or 8.5 hereof which is payable to the Sublessee shall not be paid to the Sublessee or, if it has been previously paid to the Sublessee, shall not be retained by the Sublessee, if at the time of such payment (a) in the case of Section 8.4 hereof, a Default or an Event of Default shall have occurred and be continuing or (b) in the case of Section 8.5 hereof, an Event of Default or a Default which after lapse of time would constitute an Event of Default of the character referred to in paragraph (a), (b) or (c) of Article 13 hereof shall have occurred and be continuing. In such event, all such amounts shall be paid to and held by the Sublessor as security for the obligations of the Sublessee to make payments hereunder. At such time as there shall not be continuing any Default or Event of Default or, in the case of payments pursuant to Section 8.5 hereof, any Event of Default or Default of the character referred to above, all such amounts at the time held by the Sublessor in excess of the amount, if any, which the Sublessor shall have elected to apply as above provided shall be paid to the Sublessee.

Application in Default. Any amount referred to in Sections 8.4(aparagraphs (i), (j) or (bk) or 8.5 hereof of this Section 10 which is payable to the Sublessee Lessee shall not be paid to the Sublessee Lessee or, if it has been previously paid to the SublesseeLessee, shall not be retained by the SublesseeLessee, if at the time of such payment (a) in the case of Section 8.4 hereof, a Default or an Event of Default, Potential Default shall have occurred and be continuing or (b) in the case of Section 8.5 hereof, an Event of Default or a Default which after lapse of time would constitute an Event of Default of the character referred to in paragraph under paragraphs (a), (bd) or (ch) of Article 13 hereof Section 18 hereof, Event of Loss or Event of Lease Termination shall have occurred and be continuing. In such event, all such amounts shall be paid to and held by the Sublessor Lessor as security for the obligations of the Sublessee to make payments hereunderLessee hereunder or, at the Lessor's option, applied by the Lessor toward payment of any of such obligations of the Lessee at the time due hereunder as the Lessor may elect. At such time as there shall not be continuing any Event of Default, Potential Default under the paragraphs (a), (d) or (h) of Section 18 hereof, Event of Loss or Event of Default or, in the case of payments pursuant to Section 8.5 hereof, any Event of Default or Default of the character referred to aboveLease Termination, all such amounts at the time held by the Sublessor Lessor in excess of the amount, if any, which the Sublessor Lessor shall have elected to apply as above provided shall be paid to the SublesseeLessee.