Common use of Available Proceeds Clause in Contracts

Available Proceeds. All Casualty Proceeds and Condemnation Awards (both as defined in the Indenture, and which are collectively defined in the Indenture as "Available Proceeds") shall be remitted and paid to the Trustee by the Lessee, the Lessor or ADESA, as applicable, for deposit in the Casualty Account (as defined and established under the Indenture) for disbursement, all as provided for in Section 6.3 of the Indenture. Until such time as the Lessee, the Lessor, ADESA or any of their respective agents or representatives have remitted and paid any Available Proceeds to the Trustee, such Person shall hold such proceeds in trust for the benefit of the Trustee. In the event that at any time during the Lease Term, the Indenture has been terminated, the Lessor shall, for purposes of this Article, be treated as the Trustee, and shall deposit and disburse any Available Proceeds in substantially the manner provided for in Section 6.3 of the Indenture as if it were the Trustee.