Application of Payments from Governmental Authorities for Requisition of Title Sample Clauses

Application of Payments from Governmental Authorities for Requisition of Title. Any payments received at any time by Lessor or Lessee from any governmental authority or other Person with respect to any Event of Loss, other than a requisition for use by the Government not constituting an Event of Loss, will be applied as follows:
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Application of Payments from Governmental Authorities for Requisition of Title. Any payments (other than insurance proceeds the application of which is provided for in Article 8 hereof) received at any time by Sublessor or Sublessee from any governmental authority or other Person with respect to any Event of Loss resulting from the condemnation, confiscation, theft or seizure of, or requisition of title to or use of any item of Equipment will be applied as follows:
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Application of Payments from Governmental Authorities for Requisition of Title. The Lessor Trustee shall receive the entire amount payable by any governmental authority or instrumentality or agency thereof with respect to a Casualty resulting from the condemnation, confiscation or seizure of, or requisition of title to or use of any Item of Equipment. Such amount, after deducting all expenses, including attorneys' fees, incurred by the Lessor Trustee in or as a result of such condemnation proceedings (the "NET CONDEMNATION AWARD") shall be applied promptly as follows: so much of such payments as shall not exceed the Stipulated Loss Value of such Item of Equipment required to be paid by the Lessee pursuant to Section 14.1(a) shall be applied in reduction of the Lessee's obligation to pay such Stipulated Loss Value to the extent not already paid by the Lessee, and, to the extent already paid by the Lessee and if no Default or Event of Default exists, shall be applied to reimburse the Lessee for its payment of such Stipulated Loss Value. The balance, if any, of such payments shall be paid over to the Lessee.
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Application of Payments from Governmental Authorities for Requisition of Title. Any payments (other than insurance proceeds the application of which is provided for in Article 12 hereof) received at any time by the Lessor or the Lessee from any governmental authority or other entity with respect to an Event of Loss resulting from the condemnation, confiscation, or seizure or requisition of title to or use of an Aircraft, Airframe, Engines or Propellers, will be applied as follows: (A) If such payments are received with respect to an Event of Loss relating to an Airframe and installed Engines or Propellers, (i) unless the same are replaced pursuant to Section 11.1(x), only so much of such payments as shall not exceed the amounts due under Section 11.1(A) and (B) shall be applied in reduction of the Lessee's obligation to pay such amounts, if not already paid by the Lessee, or if already paid by the Lessee, shall be applied to reimburse the Lessee for its payment of such amounts, and the balance, if any, of such payments remaining thereafter will be paid over to or retained by the Lessee or (ii) if such property is replaced pursuant to Section 11.1(x), such payments shall be paid over to, or retained by, Lessee, at such time as Lessee shall have replaced such property in accordance with the provisions of Section 11.1(x); and (B) If such payments are received with respect to an Engine or Propeller under the circumstances described in Section 11.2, all such payments shall be paid over to the Lessee, at such time as the Lessee shall have replaced such Engine or Propeller in accordance with the provisions of said Section 11.2. Any amount referred to in clause (A) or (B) above which is payable to Lessee shall not be paid to the Lessee if at the time of such payment an Event of Default shall have occurred and be continuing, but shall be held by the Lessor as security for the obligations of Lessee under this Lease and such amount shall be paid to Lessee at such time as there no longer exists any Event of Default. ARTICLE 12
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Application of Payments from Governmental Authorities for Requisition of Title. Any payments (other than insurance proceeds the application of which is provided for in Section 13) received at any time by Lessor, Lessee or any Permitted Sublessee from any governmental authority or other Person with respect to any Event of Loss, other than a requisition for use by the Government not constituting an Event of Loss, will be applied as follows:
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Application of Payments from Governmental Authorities for Requisition of Title. Any payments (other than insurance proceeds) received at any time by Secured Party or Debtor from any governmental authority or other entity with respect to condemnation, confiscation, theft or seizure of, or requisition of title to or use of the Alabama Project or Collateral, shall be applied either (a) in reduction of Debtor's obligations under the Promissory Note, subject, however, to the Debtor's set off rights described in Section 2 hereof and in the Promissory Note or (b) to the replacement of Collateral or rebuilding of the Alabama Project, with any remaining balance to Debtor.
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Application of Payments from Governmental Authorities for Requisition of Title. Any payments (other than insurance proceeds the application of which is provided for in Section 11) received at any time by Lessor or by Lessee from any governmental authority or other person with respect to an Event of Loss resulting from the condemnation, confiscation, theft or seizure of, or requisition of title to or use of the Airframe or any Engine, other than a requisition for use by the United States Government or any instrumentality or agency thereof (for purposes of this Section 10 called the "Government") not constituting an Event of Loss, will be applied as follows:
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Related to Application of Payments from Governmental Authorities for Requisition of Title

  • Authorization of Governmental Authorities No action by (including any authorization, consent or approval), in respect of, or filing with, any governmental authority or regulatory body is required for, or in connection with, the valid and lawful authorization, execution, delivery and performance by it of this Agreement, subject to, in the case of the Debtors, the entry by the Bankruptcy Court of the Approval Order.

  • Notices from Governmental Authority promptly, and in any event within 30 days of receipt thereof, copies of any notice to the Company or any Subsidiary from any Federal or state Governmental Authority relating to any order, ruling, statute or other law or regulation that could reasonably be expected to have a Material Adverse Effect; and

  • Compliance with Legal Requirements; Governmental Authorizations (a) Except as set forth in Schedule 3.14:

  • Compliance; Governmental Authorizations The Seller has complied in all material respects with all applicable Federal, state, local or foreign laws, ordinances, regulations and orders. The Seller has all Federal, state, local and foreign governmental licenses and permits necessary in the conduct of the Subject Business the lack of which would have a material adverse effect on the Buyer's ability to operate the Subject Business after the Closing on substantially the same basis as presently operated, such licenses and permits are in full force and effect, no violations are or have been recorded in respect of any thereof and no proceeding is pending or threatened to revoke or limit any thereof. None of such licenses and permits shall be affected in any material respect by the transactions contemplated hereby.

  • Authority; Compliance With Other Agreements and Instruments and Government Regulations The execution and delivery by Borrower of the Loan Documents to which it is a Party and payment of the Obligations have been duly authorized by all necessary corporate or company action, as applicable, and do not and will not:

  • Compliance with Law; Governmental Authorizations To the best of Seller’s knowledge, Seller is in compliance with all federal, state and local laws, authorizations, licenses and permits of any governmental authority and all governmental orders affecting the properties and assets of Seller, including federal, state and local: (i) Occupational Safety and Health Laws; (ii) private investigatory and other similar laws; (iii) the Fair Credit Reporting Act and similar state and local laws; and (iv) laws regarding or relating to trespass or violation of privacy rights. Seller has not been charged with violating, nor to the knowledge of Seller, threatened with a charge of violating, nor, to the knowledge of Seller, is Seller under investigation with respect to a possible violation of any provision of any federal, state or local law relating to any of, properties or assets.

  • No Governmental Consents No governmental, administrative or other third party consents or approvals are required, necessary or appropriate on the part of Subscriber in connection with the transactions contemplated by this Agreement.

  • Compliance with Government Regulations The Company covenants that if any share of Common Stock required to be reserved for purposes of exercise or conversion of Warrants require, under any federal or state law or applicable governing rule or regulation of any national securities exchange, registration with or approval of any governmental authority, or listing on any such national securities exchange, before such shares may be issued upon exercise, the Company will use its commercially reasonable efforts to cause such shares to be duly registered, approved or listed on the relevant national securities exchange, as the case may be.

  • COMPLIANCE WITH LEGAL REQUIREMENTS; GOVERNMENTAL AUTHORIZATIONS

  • COMPLIANCE WITH GOVERNMENTAL RULES AND REGULATIONS; RECORDS The Trust assumes full responsibility for its compliance with all securities, tax, commodities and other laws, rules and regulations applicable to it.

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