Common use of Application of Payments During Existence of Event of Default Clause in Contracts

Application of Payments During Existence of Event of Default. Any amount referred to in this Section 3.5 which is payable to the Company (or any Lessee) shall not be paid to or retained by the Company (or such Lessee), if at the time of such payment or retention an Event of Default shall have occurred and be continuing, but shall be held by or paid over to the Collateral Agent as security for the Obligations and, if the aggregate unpaid principal amounts of the Loans shall be declared to be due and payable pursuant to the Credit Agreement, applied against the Obligations as and when due. Upon the earlier of (a) such time as there shall not be continuing any such Event of Default or (b) the termination of this Mortgage in accordance with Section 7.12, such amount, and any interest realized thereon pursuant to Section 6.1 hereof, shall be paid over to the Company (or such Lessee) to the extent not previously applied in accordance with the preceding sentence.

Application of Payments During Existence of Event of Default. Any amount referred to in this Section 3.5 which is payable to the Company (or any Lessee) shall not be paid to or retained by the Company (or such Lessee), if at the time of such payment or retention an Event of Default shall have occurred and be continuing, but shall be held by or paid over to the Collateral Agent as security for the Obligations and, if the aggregate unpaid principal amounts of the Loans Notes shall be declared to be due and payable pursuant to the Credit Agreement, applied against the Obligations as and when due. Upon the earlier of (a) such time as there shall not be continuing any such Event of Default or (b) the termination of this Mortgage in accordance with Section 7.128.1, such amount, and any interest realized thereon pursuant to Section 6.1 hereof, shall be paid over to the Company (or such Lessee) to the extent not previously applied in accordance with the preceding sentence.

Application of Payments During Existence of Event of Default. Any amount referred to in this Section 3.5 7.06 which is payable to or retainable by the Company Owner (or any Lessee) shall not be paid to or retained by the Company Owner (or such Lessee), ) if at the time of such payment or retention an Event of Default shall have occurred and be continuing, but shall be held by or paid over to the Collateral Agent Indenture Trustee as security for the Obligations and, if the aggregate unpaid principal amounts obligations of the Loans shall be declared to be due Owner (or such Lessee) under this Trust Indenture and payable pursuant to the Credit Agreement, applied against the Obligations Owner's obligations hereunder as and when due. Upon the earlier of (a) such time as there shall not be continuing any such Event of Default or (b) the termination of this Mortgage Trust Indenture in accordance with Section 7.1211.01 hereof, such amount, and any interest realized thereon pursuant to Section 6.1 hereof, amount shall be paid over to the Company Owner (or such Lessee) to the extent not previously applied in accordance with the preceding sentence.

Application of Payments During Existence of Event of Default. Any amount referred to in this Section 3.5 7.06 which is payable to or retainable by the Company Owner (or any Lessee) shall not be paid to or retained by the Company Owner (or such Lessee), ) if at the time of such payment or retention an Event of Default shall have occurred and be continuing, but shall be held by or paid over to the Collateral Agent Indenture Trustee as security for the Obligations and, if the aggregate unpaid principal amounts obligations of the Loans shall be declared to be due Owner (or such Lessee) under this Trust Indenture and payable pursuant to the Credit Agreement, applied against the Obligations Owner’s obligations hereunder as and when due. Upon the earlier of (a) such time as there shall not be continuing any such Event of Default or (b) the termination of this Mortgage Trust Indenture in accordance with Section 7.1211.01 hereof, such amount, and any interest realized thereon pursuant to Section 6.1 hereof, amount shall be paid over to the Company Owner (or such Lessee) to the extent not previously applied in accordance with the preceding sentence.

Application of Payments During Existence of Event of Default. Any amount referred to in this Section 3.5 which is payable to the Company (or any Lessee) shall not be paid to or retained by the Company (or such Lessee), if at the time of such payment or retention an Event of Default shall have occurred and be continuing, but shall be held by or paid over to the Collateral Agent as security for the Obligations and, if the aggregate unpaid principal amounts amount of the Loans Notes shall be declared to be due and payable pursuant to the Credit AgreementSection 4.2 hereof, applied against the Obligations as and when due. Upon the earlier of (a) such time as there shall not be continuing any such Event of Default or (b) the termination of this Mortgage in accordance with Section 7.128.1, such amount, and any interest realized thereon pursuant to Section 6.1 7.1 hereof, shall be paid over to the Company (or such Lessee) to the extent not previously applied in accordance with the preceding sentence.

Application of Payments During Existence of Event of Default. Any After the Lien of the Senior Mortgage shall have been discharged, any amount referred to in this Section 3.5 3.04 or Section 3.05 which is payable to or retainable by the Company (or any Lessee) shall not be paid to or retained by the Company (or such Lessee), if at the time of such payment or retention a Special Default or an Event of Default shall have occurred and be continuing, but shall be held by or paid over to the Collateral Agent Security Trustee as security for the Obligations and, if the aggregate unpaid principal amounts of the Loans shall be declared to be due and payable pursuant to the Credit Agreement, applied against the Obligations as and when dueObligations. Upon the earlier of (a) such time as there shall not be continuing any such Special Default or Event of Default or (b) the termination of this Mortgage in accordance with Section 7.127.01, such amount, and any interest realized thereon pursuant to Section 6.1 6.01 hereof, shall be paid over to the Company (or such Lessee) to the extent not previously applied in accordance with the preceding sentence.