Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Company.
Appears in 9 contracts
Sources: Indenture and Security Agreement (Delta Air Lines, Inc.), Indenture and Security Agreement (Delta Air Lines, Inc.), Indenture and Security Agreement (Delta Air Lines, Inc.)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series AA Equipment Notes shall be distributed to Noteholders the Note Holders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, ;
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, and
(iii) after giving effect to clause “second” paragraph (ii) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to paragraph (xiiiSection 10.01(b) or (xiv) of Section 9.01) hereof), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 6 contracts
Sources: Note Purchase Agreement (United Airlines, Inc.), Note Purchase Agreement (United Airlines, Inc.), Note Purchase Agreement
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan the Indenture Trustee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, ;
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series B Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series B Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series B Equipment Notes;
(iii) after giving effect to paragraph (ii) above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, to the extent permitted by Law, on any overdue interest) then due under all Series C Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Companythe Note Holders of Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Equipment Note bears to the aggregate amount of the payments then due under all Series C Equipment Notes.
Appears in 6 contracts
Sources: Trust Indenture and Security Agreement, Trust Indenture and Security Agreement (Us Airways Inc), Trust Indenture and Security Agreement (Us Airways Inc)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; second, after giving effect to clause “first” above (if any Series B Equipment Notes shall have been issued hereunder and except as this clause “second” may be modified pursuant to paragraph (xiii) or (xiv) of Section 9.01), so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Company.
Appears in 5 contracts
Sources: Indenture and Security Agreement (Jetblue Airways Corp), Indenture and Security Agreement (Jetblue Airways Corp), Indenture and Security Agreement (Alaska Air Group, Inc.)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 3.02 and 3.043.03, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan the Indenture Trustee shall be promptly distributed in the following order of priority: first, (i) so much of such installment or payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA G Equipment Notes shall be distributed to Noteholders the Note Holders of Series AA Equipment Notes G ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA G Equipment Note bears to the aggregate amount of the payments then due under all Series AA G Equipment Notes; second, and (ii) after giving effect to clause “first” paragraph (i) above, so much of such installment or payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A C Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A C Equipment Note bears to the aggregate amount of the payments then due under all Series A C Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Company.
Appears in 4 contracts
Sources: Owned Aircraft Indenture (Us Airways Inc), Indenture and Security Agreement (Us Airways Inc), Indenture and Security Agreement (Us Airways Inc)
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to the Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; fourth, after giving effect to clause “third” above (if any Additional Series Equipment Notes of a specified series shall have been issued hereunder and except as this clause “fourth” may be modified pursuant to clause (xv) of Section 9.01 in connection with any issuance or redemption and issuance from time to time of Additional Series Equipment Notes of one or more series), so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series such series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentseries; and fourth¸ fifth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 4 contracts
Sources: Note Purchase Agreement (American Airlines Inc), Note Purchase Agreement (American Airlines Inc), Note Purchase Agreement (American Airlines Inc)
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; second, after giving effect to clause “first” above (if any Series B Equipment Notes shall have been issued hereunder and except as this clause “second” may be modified pursuant to clause (xv) of Section 9.01 in connection with the original issuance or subsequent redemption and issuance from time to time of Series B Equipment Notes), so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause “second” above (if any Additional Series Equipment Notes shall have been issued hereunder and except as otherwise provided in an amendment to this Indenture clause “third” may be modified pursuant to paragraph clause (xiii) or (xivxv) of Section 9.01) 9.01 in connection with the original issuance or subsequent redemption and issuance from time to time of Additional Series Equipment Notes), so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ fourth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 3 contracts
Sources: Indenture and Security Agreement (American Airlines Inc), Indenture and Security Agreement (American Airlines Inc), Indenture and Security Agreement (American Airlines Inc)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; thirdsecond, after giving effect to clause “secondfirst” above (if any Series B Equipment Notes shall have been issued hereunder and except as otherwise provided in an amendment to this Indenture clause “second” may be modified pursuant to paragraph (xiii) or (xivxv) of Section 9.01) 9.01 in connection with the original issuance or subsequent redemption and issuance from time to time of such Series B Equipment Notes), so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series B Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series B Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series B Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series B Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ third, the balance, if any, of such installment remaining thereafter shall be distributed to Company.
Appears in 3 contracts
Sources: Indenture and Security Agreement (Delta Air Lines Inc /De/), Indenture and Security Agreement (Delta Air Lines Inc /De/), Indenture and Security Agreement (Delta Air Lines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to the Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, after giving effect to clause “second” above (if any Additional Series Equipment Notes of a specified series shall have been issued hereunder and except as otherwise provided in an amendment to this Indenture clause “third” may be modified pursuant to paragraph clause (xiii) or (xivxv) of Section 9.01) 9.01 in connection with any issuance or redemption and issuance from time to time of Additional Series Equipment Notes of one or more series), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series such series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentseries; and fourth¸ fourth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 3 contracts
Sources: Note Purchase Agreement (American Airlines Inc), Note Purchase Agreement (American Airlines Inc), Note Purchase Agreement (American Airlines Inc)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series AA A-1 and Series A-2 Equipment Notes shall be distributed to Noteholders the Note Holders of Series AA Equipment Notes A-1 and Series A-2 ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA A-1 and Series A-2 Equipment Note bears to the aggregate amount of the payments then due under all Series AA A-1 and Series A-2 Equipment Notes; second, ;
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series A B Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A B Equipment Note bears to the aggregate amount of the payments then due under all Series A B Equipment Notes; third, ;
(iii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series C Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series C Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series C Equipment Notes; and
(iv) after giving effect to paragraph (iii) above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, to the extent permitted by Law, on any overdue interest) then due under all Series D Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Companythe Note Holders of Series D ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series D Equipment Note bears to the aggregate amount of the payments then due under all Series D Equipment Notes.
Appears in 3 contracts
Sources: Trust Indenture and Mortgage (Continental Airlines Inc /De/), Trust Indenture and Mortgage (Continental Airlines Inc /De/), Trust Indenture and Mortgage (Continental Airlines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series AA A-1 and Series A-2 Equipment Notes shall be distributed to Noteholders the Note Holders of Series AA Equipment Notes A-1 and Series A-2 ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA A-1 and Series A-2 Equipment Note bears to the aggregate amount of the payments then due under all Series AA A-1 and Series A-2 Equipment Notes; second, ;
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series A B Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A B Equipment Note bears to the aggregate amount of the payments then due under all Series A B Equipment Notes; third, ;
(iii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series C-1 and Series C-2 Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such C-1 and Series C-2 ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series C-1 and Series C-2 Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series C-1 and Series C-2 Equipment Notes; and
(iv) after giving effect to paragraph (iii) above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, to the extent permitted by Law, on any overdue interest) then due under all Series D Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Companythe Note Holders of Series D ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series D Equipment Note bears to the aggregate amount of the payments then due under all Series D Equipment Notes.
Appears in 3 contracts
Sources: Trust Indenture and Mortgage (Continental Airlines Inc /De/), Trust Indenture and Mortgage (Continental Airlines Inc /De/), Trust Indenture and Mortgage (Continental Airlines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, Section 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes Secured Certificates received by Loan the Indenture Trustee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes G Secured Certificates shall be distributed to Noteholders the Certificate Holders of Series AA Equipment Notes G ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note G Secured Certificate bears to the aggregate amount of the payments then due under all Series AA Equipment NotesG Secured Certificates; second, and
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes C Secured Certificates shall be distributed to Noteholders the Certificate Holders of Series A Equipment Notes C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note C Secured Certificate bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyC Secured Certificates.
Appears in 2 contracts
Sources: Trust Indenture and Security Agreement (Northwest Airlines Inc /Mn), Trust Indenture and Security Agreement (Northwest Airlines Corp)
Basic Distributions. Except as otherwise provided in Sections 3.02, Section 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes Secured Certificates received by Loan the Indenture Trustee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes Secured Certificates shall be distributed to Noteholders the Certificate Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note Secured Certificate bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, Secured Certificates;
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series B Secured Certificates shall be distributed to Noteholders the Certificate Holders of Additional Series Equipment Notes of such Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series B Secured Certificate bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes B Secured Certificates; and
(iii) after giving effect to paragraph (ii) above, so much of such Seriespayment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, provided that this clause “third” shall apply to each the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter C Secured Certificates shall be distributed to Companythe Certificate Holders of Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Secured Certificate bears to the aggregate amount of the payments then due under all Series C Secured Certificates.
Appears in 2 contracts
Sources: Trust Indenture and Security Agreement (Northwest Airlines Holdings Corp/Pred), Trust Indenture and Security Agreement (Northwest Airlines Corp)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, ;
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series B Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series B Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series B Equipment Notes;
(iii) after giving effect to paragraph (ii) above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, to the extent permitted by Law, on any overdue interest) then due under all Series C Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Companythe Note Holders of Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Equipment Note bears to the aggregate amount of the payments then due under all Series C Equipment Notes; and
(iv) if any Series D Equipment Notes have been issued, after giving effect to paragraph (iii) above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, to the extent permitted by Law, on any overdue interest) then due under all Series D Equipment Notes shall be distributed to the Note Holders of Series D ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series D Equipment Note bears to the aggregate amount of the payments then due under all Series D Equipment Notes.
Appears in 2 contracts
Sources: Trust Indenture and Mortgage (Atlas Air Inc), Trust Indenture and Mortgage (Continental Airlines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.023.02, 3.03 3.03 and 3.043.04, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, ,; after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Company.
Appears in 2 contracts
Sources: Indenture and Security Agreement (Fedex Corp), Indenture and Security Agreement (Fedex Corp)
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph clause (xiii) or (xivxv) of Section 9.01) ), so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ fourth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 2 contracts
Sources: Indenture and Security Agreement (American Airlines Inc), Indenture and Security Agreement (Amr Corp)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, ;
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest) then due under all Series B Equipment Notes shall be distributed to the Note Holders of Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes;
(iii) after giving effect to paragraph (ii) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to Section 10.01(b) hereof), so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest and (as well as any other interest on any overdue amountsOriginal Amount and, to the extent permitted by Law, on any overdue interest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 2 contracts
Sources: Trust Indenture and Mortgage (Hawaiian Holdings Inc), Trust Indenture and Mortgage (Continental Airlines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: firstFIRST, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA A-1 Equipment Notes and Series A-2 Equipment Notes shall be distributed to the Noteholders of Series AA A-1 Equipment Notes and Series A-2 Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA A-1 Equipment Note or Series A-2 Equipment Note bears to the aggregate amount of the payments then due under all Series AA A-1 Equipment Notes and Series A-2 Equipment Notes; secondSECOND, after giving effect to clause “"first” " above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; THIRD, after giving effect to clause "second" above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A C Equipment Notes shall be distributed to the Noteholders of Series A C Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A C Equipment Note bears to the aggregate amount of the payments then due under all Series A C Equipment Notes; thirdFOURTH, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) "third" above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series D Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series D Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series D Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series D Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ FIFTH, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 2 contracts
Sources: Indenture and Security Agreement (Delta Air Lines Inc /De/), Indenture and Security Agreement (Delta Air Lines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series AA Equipment Notes shall be distributed to Noteholders the Note Holders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, ;
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, ;
(iii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest) then due under all Series B Equipment Notes shall be distributed to the Note Holders of Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; and
(iv) after giving effect to paragraph (iii) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to Section 10.01(b) hereof), so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest and (as well as any other interest on any overdue amountsOriginal Amount and, to the extent permitted by Law, on any overdue interest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 2 contracts
Sources: Note Purchase Agreement (United Airlines, Inc.), Note Purchase Agreement (United Airlines, Inc.)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, ;
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest) then due under all Series B Equipment Notes shall be distributed to the Note Holders of Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; and
(iii) after giving effect to paragraph (ii) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to Section 10.01(b) hereof), so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest and (as well as any other interest on any overdue amountsOriginal Amount and, to the extent permitted by Law, on any overdue interest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 2 contracts
Sources: Note Purchase Agreement (United Airlines, Inc.), Note Purchase Agreement (United Airlines, Inc.)
Basic Distributions. Except as otherwise provided in Sections 3.02, Section 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series AA G-1 Equipment Notes and Series G-2 Equipment Notes shall be distributed to Noteholders the Note Holders of Series AA G-1 Equipment Notes and Series G-2 Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each all Series AA G-1 Equipment Notes and Series G-2 Equipment Notes held by such Note Holder bears to the aggregate amount of the interest payments then due under all Series AA G-1 Equipment Notes and Series G-2 Equipment Notes; second, ;
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series A C Equipment Notes shall be distributed to Noteholders the Note Holders of Series A C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series C Equipment Notes held by such Note Holder bears to the aggregate amount of interest payments then due under all Series C Equipment Notes;
(iii) after giving effect to paragraphs (i) and (ii) above, so much of such payment as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount then due under all Series G-1 Equipment Notes and Series G-2 Equipment Notes shall be distributed to the Note Holders of Series G-1 Equipment Notes and Series G-2 Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each all Series A G-1 Equipment Notes and Series G-2 Equipment Notes held by such Note Holder bears to the aggregate amount of the such payments then due under all Series A G-1 Equipment Notes and Series G-2 Equipment Notes; third, and
(iv) after giving effect to clause “second” above paragraphs (i), (ii) and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) Original Amount then due under all Additional Series C Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional all Series C Equipment Notes held by such Note of such Series Holder bears to the aggregate amount of the such payments then due under all Additional Series C Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 2 contracts
Sources: Trust Indenture and Mortgage (Jetblue Airways Corp), Trust Indenture and Mortgage (Jetblue Airways Corp)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; thirdsecond, after giving effect to clause “secondfirst” above (and except as otherwise provided in an amendment to this Indenture clause “second” may be modified pursuant to paragraph (xiii) or (xivxv) of Section 9.01) 9.01 in connection with the successive redemption of Series B Equipment Notes and issuance from time to time of new Series B Equipment Notes), so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series B Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series B Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series B Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series B Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ third, the balance, if any, of such installment remaining thereafter shall be distributed to Company.
Appears in 2 contracts
Sources: Indenture and Security Agreement (Delta Air Lines Inc /De/), Indenture and Security Agreement (Delta Air Lines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA A-1 Equipment Notes and Series A-2 Equipment Notes shall be distributed to the Noteholders of Series AA A-1 Equipment Notes and Series A-2 Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA A-1 Equipment Note or Series A-2 Equipment Note bears to the aggregate amount of the payments then due under all Series AA A-1 Equipment Notes and Series A-2 Equipment Notes; second, after giving effect to clause “"first” " above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause "second" above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A C Equipment Notes shall be distributed to the Noteholders of Series A C Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A C Equipment Note bears to the aggregate amount of the payments then due under all Series A C Equipment Notes; thirdfourth, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) "third" above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series E Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series E Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series E Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series E Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ fifth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Sources: Indenture and Security Agreement (American Airlines Inc)
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA A Equipment Notes shall be distributed to the Noteholders of Series AA A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA A Equipment Note bears to the aggregate amount of the payments then due under all Series AA A Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause “second” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A C Equipment Notes shall be distributed to the Noteholders of Series A C Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A C Equipment Note bears to the aggregate amount of the payments then due under all Series A C Equipment Notes; thirdand fourth, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause “second” above (if any Additional Series Equipment Notes shall have been issued hereunder and except as otherwise provided in an amendment to this Indenture clause “third” may be modified pursuant to paragraph clause (xiii) or (xivxv) of Section 9.01) 9.01 in connection with the original issuance or subsequent redemption and issuance from time to time of Additional Series Equipment Notes), so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ fourth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Sources: Indenture and Security Agreement (American Airlines Inc)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 3.03, 3.04 and 3.043.05, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA A-1 Equipment Notes and Series A-2 Equipment Notes shall be distributed to the Noteholders of Series AA A-1 Equipment Notes and Series A-2 Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA A-1 Equipment Note or Series A-2 Equipment Note bears to the aggregate amount of the payments then due under all Series AA A-1 Equipment Notes and Series A-2 Equipment Notes; second, after giving effect to clause “"first” " above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause "second" above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A C Equipment Notes shall be distributed to the Noteholders of Series A C Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A C Equipment Note bears to the aggregate amount of the payments then due under all Series A C Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Company.;
Appears in 1 contract
Sources: Indenture and Security Agreement (American Airlines Inc)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each all Series A Equipment Notes held by such Note Holder bears to the aggregate amount of the such payments then due under all Series A Equipment Notes; third, ;
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest) then due under all Series B Equipment Notes shall be distributed to the Note Holders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series B Equipment Notes held by such Note Holder bears to the aggregate amount of such payments then due under all Series B Equipment Notes; and
(iii) after giving effect to paragraphs (i) and (ii) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to Section 10.01(b) hereof), so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest and (as well as any other interest on any overdue amountsOriginal Amount and, to the extent permitted by Law, on any overdue interest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each all Additional Series Equipment Notes held by such Note of such Series Holder bears to the aggregate amount of the such payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 1 contract
Sources: Trust Indenture and Mortgage (Southwest Airlines Co)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 (S) 3.02 and 3.04(S) 3.03, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee Mortgagee shall be promptly distributed in the following order of priority: first, :
(a) so much of such payment as is required to pay in full the aggregate amount payment(s) of the payment or payments of principal amount Original Amount and interest (as well as and any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series AA A Equipment Notes shall be distributed to Noteholders the Note Holders of Series AA Equipment Notes A ratably, without priority of one over the other, in the proportion that the amount of such payment or payments payment(s) then due under each Series AA A Equipment Note bears to the aggregate total amount of the payments then due under all Series AA A Equipment Notes; second, ;
(b) after giving effect to clause “first” above(a) of this (S) 3.01, so much of such payment remaining as is shall be required to pay in full the aggregate amount payment(s) of the payment or payments of principal amount Original Amount and interest (as well as and any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series A B Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments payment(s) then due under each Series A B Equipment Note bears to the aggregate total amount of the payments then due under all Series A B Equipment Notes; third, and
(c) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xivb) of Section 9.01this (S) 3.01, so much of such payment remaining as is shall be required to pay in full the aggregate amount payment(s) of the payment or payments of principal amount Original Amount and interest (as well as and any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series C Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments payment(s) then due under each Additional Series C Equipment Note of such Series bears to the aggregate total amount of the payments then due under all Additional Series C Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 1 contract
Basic Distributions. Except as otherwise provided in Sections 3.023.03, 3.03 3.04 and 3.043.05, each periodic installment of Basic Rent, any payment by Company of regularly scheduled interest on overdue installments of principal or interest on the Equipment Notes Basic Rent and any payment received by the Loan Trustee pursuant to Section 8.03 shall be promptly distributed in the following order of priority: first, so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA A-1 Equipment Notes and Series A-2 Equipment Notes shall be distributed to the Noteholders of Series AA A-1 Equipment Notes and Series A-2 Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA A-1 Equipment Note or Series A-2 Equipment Note bears to the aggregate amount of the payments then due under all Series AA A-1 Equipment Notes and Series A-2 Equipment Notes; second, after giving effect to clause “"first” " above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause "second" above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A C Equipment Notes shall be distributed to the Noteholders of Series A C Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A C Equipment Note bears to the aggregate amount of the payments then due under all Series A C Equipment Notes; thirdfourth, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) "third" above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series D Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series D Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series D Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series D Equipment Notes; fifth, after giving effect to clause "fourth" above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series E Equipment Notes shall be distributed to the Noteholders of Series E Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such Series, provided that this clause “third” shall apply to payment or payments then due under each Series E Equipment Note bears to the aggregate amount of Additional the payments then due under all Series E Equipment Notes in order of priority of paymentNotes; and fourth¸ sixth, the balance, if any, of such installment remaining thereafter shall be distributed to Companythe Owner Trustee to be held or distributed in accordance with the terms of the Trust Agreement.
Appears in 1 contract
Sources: Trust Indenture and Security Agreement (American Airlines Inc)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes;
(ii) [reserved]; third, and TRUST INDENTURE 2023-1 19
(iii) after giving effect to clause “second” paragraph (i) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to paragraph (xiiiSection 10.01(b) or (xiv) of Section 9.01) hereof), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 1 contract
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; thirdsecond, after giving effect to clause “secondfirst” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series B Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series B Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series B Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series B Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Company.Notes;
Appears in 1 contract
Sources: Indenture and Security Agreement (Delta Air Lines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA A-1 Equipment Notes and Series A-2 Equipment Notes shall be distributed to the Noteholders of Series AA A- 1 Equipment Notes and Series A-2 Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA A-1 Equipment Note or Series A-2 Equipment Note bears to the aggregate amount of the payments then due under all Series AA A-1 Equipment Notes and Series A-2 Equipment Notes; second, after giving effect to clause “"first” " above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause "second" above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A C Equipment Notes shall be distributed to the Noteholders of Series A C Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A C Equipment Note bears to the aggregate amount of the payments then due under all Series A C Equipment Notes; thirdfourth, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) "third" above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series D Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series D Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series D Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series D Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ fifth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Sources: Indenture and Security Agreement (American Airlines Inc)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan the Indenture Trustee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, ;
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest) then due under all Series B Equipment Notes shall be distributed to the Note Holders of Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes;
(iii) after giving effect to paragraph (ii) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to Section 10.01(b) hereof), so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest and (as well as any other interest on any overdue amountsOriginal Amount and, to the extent permitted by Law, on any overdue interest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 1 contract
Sources: Trust Indenture and Security Agreement (Us Airways Inc)
Basic Distributions. Except as otherwise provided in Sections 3.02, Section 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each all Series A Equipment Notes held by such Note Holder bears to the aggregate amount of the such payments then due under all Series A Equipment Notes; third, and
(ii) after giving effect to clause “second” paragraph (i) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to paragraph (xiiiSection 10.01(b) or (xiv) of Section 9.01) hereof), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each all Additional Series Equipment Notes held by such Note of such Series Holder bears to the aggregate amount of the such payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 1 contract
Sources: Trust Indenture and Mortgage (United Air Lines Inc)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan the Indenture Trustee shall be promptly distributed in the following order of priority: first, (i) so much of such installment or payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, (ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such installment or payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series B Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series B Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series B Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ the balance(iii) after giving effect to paragraph (ii) above, if any, so much of such installment or payment remaining thereafter as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series C Equipment Notes shall be distributed to Companythe Noteholders of Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Equipment Note bears to the aggregate amount of the payments then due under all Series C Equipment Notes.
Appears in 1 contract
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, TRUST INDENTURE 22-1 (A and B) 20
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest) then due under all Series B Equipment Notes shall be distributed to the Note Holders of Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; and
(iii) after giving effect to paragraphs (i) and (ii) above, (and except as otherwise provided in an amendment to this Trust Indenture pursuant to Section 10.01(b) hereof), so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest and (as well as any other interest on any overdue amountsOriginal Amount and, to the extent permitted by Law, on any overdue interest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 1 contract
Sources: Note Purchase Agreement (Sun Country Airlines Holdings, Inc.)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, ;
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series B Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series B Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series B Equipment Notes;
(iii) after giving effect to paragraph (ii) above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, to the extent permitted by Law, on any overdue interest) then due under all Series C Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Companythe Note Holders of Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Equipment Note bears to the aggregate amount of the payments then due under all Series C Equipment Notes; and
(iv) after giving effect to paragraph (iii) above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, to the extent permitted by Law, on any overdue interest) then due under all Series D Equipment Notes shall be distributed to the Note Holders of Series D ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series D Equipment Note bears to the aggregate amount of the payments then due under all Series D Equipment Notes.
Appears in 1 contract
Sources: Trust Indenture and Mortgage (Continental Airlines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series AA G-1 and Series G-2 Equipment Notes and all Related Secured Obligations then due under all Related Series G-1 Equipment Notes and all Related Series G-2 Equipment Notes shall be distributed to Noteholders the Note Holders of Series AA G-1 and Series G-2 and to the Related Note Holders of the Related Series G-1 Equipment Notes and Related Series G-2 Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA G-1 Equipment Note, Series G-2 Equipment Note, Related Series G-1 Equipment Note and Related Series G-2 Equipment Note bears to the aggregate amount of the payments then due under all Series AA G-1 Equipment Notes; second, Series
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series A H Equipment Notes and all Related Secured Obligations then due under all Related Series H Equipment Notes shall be distributed to Noteholders the Note Holders of Series A H and to the Related Note Holders of the Related Series H Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A H Equipment Note and the Related Series H Equipment Note bears to the aggregate amount of the payments then due under all Series A H Equipment Notes and Related Series H Equipment Notes; third, ;
(iii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series I Equipment Notes of a specified and all Related Secured Obligations then due under all Related Series I Equipment Notes shall be distributed to Noteholders the Note Holders of Additional Series I and to the Related Note Holders of the Related Series I Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series I Equipment Note of such and Related Series I Equipment Note bears to the aggregate amount of the payments then due under all Additional Series I Equipment Notes and Related Series I Equipment Notes; and
(iv) after giving effect to paragraph (iii) above, so much of such Seriespayment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, provided that this clause “third” shall apply to each the extent permitted by Law, on any overdue interest) then due under all Series of Additional Series J Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter all Related Secured Obligations then due under all Related Series J Equipment Notes shall be distributed to Companythe Note Holders of Series J and Related Note Holders of the Related Series J Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series J Equipment Note and Related Series J Equipment Note bears to the aggregate amount of the payments then due under all Series J Equipment Notes and Related Series J Equipment Notes.
Appears in 1 contract
Sources: Trust Indenture and Mortgage (Continental Airlines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xivxv) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Company.
Appears in 1 contract
Sources: Indenture and Security Agreement (Delta Air Lines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series AA A-1 and Series A-2 Equipment Notes shall be distributed to Noteholders the Note Holders of Series AA Equipment Notes A-1 and Series A-2 ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA A-1 and Series A-2 Equipment Note bears to the aggregate amount of the payments then due under all Series AA A-1 and Series A-2 Equipment Notes; second, ;
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series A B Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A B Equipment Note bears to the aggregate amount of the payments then due under all Series A B Equipment Notes; third, ;
(iii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series C Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series C Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series C Equipment Notes; and
(iv) if any Series D Equipment Notes have been issued, after giving effect to paragraph (iii) above, so much of such Seriespayment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, provided that this clause “third” shall apply to each the extent permitted by Law, on any overdue interest) then due under all Series of Additional Series D Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Companythe Note Holders of Series D ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series D Equipment Note bears to the aggregate amount of the payments then due under all Series D Equipment Notes.
Appears in 1 contract
Basic Distributions. Except as otherwise provided in Sections 3.02, Section 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each all Series A Equipment Notes held by such Note Holder bears to the aggregate amount of the such payments then due under all Series A Equipment Notes; third, ;
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest) then due under all Series B Equipment Notes shall be distributed to the Note Holders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series B Equipment Notes held by such Note Holder bears to the aggregate amount of such payments then due under all Series B Equipment Notes; and
(iii) after giving effect to paragraphs (i) and (ii) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to Section 10.01(b) hereof), so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest and (as well as any other interest on any overdue amountsOriginal Amount and, to the extent permitted by Law, on any overdue interest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each all Additional Series Equipment Notes held by such Note of such Series Holder bears to the aggregate amount of the such payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 1 contract
Sources: Trust Indenture and Mortgage (United Air Lines Inc)
Basic Distributions. Except as otherwise provided in Sections Section 3.02, 3.03 Section 3.03, Section 3.04 and 3.04Section 3.05, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA G Equipment Notes shall be distributed to the Noteholders of Series AA G Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA G Equipment Note bears to the aggregate amount of the payments then due under all Series AA G Equipment Notes; second, after giving effect to clause “"first” " above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A C Equipment Notes shall be distributed to the Noteholders of Series A C Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A C Equipment Note bears to the aggregate amount of the payments then due under all Series A C Equipment Notes; third, after giving effect to clause “"second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) " above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series D Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series D Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series D Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series D Equipment Notes; fourth, after giving effect to clause "third" above, if any Series E Equipment Notes shall have been issued hereunder, so much of such Seriespayment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, provided to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series E Equipment Notes shall be distributed to the Noteholders of Series E Equipment Notes ratably, without priority of one over the other, in the proportion that this clause “third” shall apply to the amount of such payment or payments then due under each Series E Equipment Note bears to the aggregate amount of Additional the payments then due under all Series E Equipment Notes in order of priority of paymentNotes; and fourth¸ fifth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Sources: Indenture and Security Agreement (American Airlines Inc)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic scheduled payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount the Original Amount and interest (as well as any interest on any overdue principal amount payment of all or any portion of the Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series AA Senior Equipment Notes shall be distributed to Noteholders the Note Holders of Series AA such Senior Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Senior Equipment Note Note, bears to the aggregate amount of the payments then due under all Series AA Senior Equipment Notes; second, ;
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount the Original Amount and interest (as well as any interest on any overdue principal amount payment of all or any portion of the Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series A Junior Equipment Notes shall be distributed to Noteholders the Note Holders of Series A such Junior Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Junior Equipment Note bears to the aggregate amount of the payments then due under all Series A Junior Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Company.
Appears in 1 contract
Sources: Trust Indenture and Mortgage (Jetblue Airways Corp)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to the Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; 26 Indenture and Security Agreement (Spirit 2017-1 EETC) [Reg. No.] second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, after giving effect to clause “second” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; fourth, after giving effect to clause “third” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiixv) or (xivxvi) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “thirdfourth” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ fifth¸ the balance, if any, of such installment remaining thereafter shall be distributed to the Company. 27 Indenture and Security Agreement (Spirit 2017-1 EETC) [Reg. No.]
Appears in 1 contract
Sources: Indenture and Security Agreement (Spirit Airlines, Inc.)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes Secured Certificates received by Loan the Indenture Trustee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series AA Equipment Notes A Secured Certificates shall be distributed to Noteholders the Certificate Holders of Series AA Equipment Notes A ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series A Secured Certificates held by each Series AA Equipment Note Certificate Holder bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, A Secured Certificates;
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes B Secured Certificates shall be distributed to Noteholders the Certificate Holders of Series A Equipment Notes B, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series B Secured Certificates held by each Certificate Holder bears to the aggregate amount of the payments then due under all Series B Secured Certificates; and
(iii) after giving effect to paragraph (ii) above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest (as well as any interest on any overdue Principal Amount and, to the extent permitted by applicable Law, on any overdue interest) then due under all Series C Secured Certificates shall be distributed to the Certificate Holders of Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series C Secured Certificates held by each Series A Equipment Note Certificate Holder bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyC Secured Certificates.
Appears in 1 contract
Sources: Trust Indenture and Security Agreement (Northwest Airlines Inc /Mn)
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by Company the Owner of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause “second” above (if any Additional Series Equipment Notes of a specified series shall have been issued hereunder and except as otherwise provided in an amendment to this Indenture clause “third” may be modified pursuant to paragraph clause (xiii) or (xivxv) of Section 9.01) 9.01 in connection with any issuance or redemption and issuance from time to time of Additional Series Equipment Notes of one or more series), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series such series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentseries; and fourth¸ Indenture and Security Agreement fourth, the balance, if any, of such installment remaining thereafter shall be distributed to Companythe Owner.
Appears in 1 contract
Sources: Indenture and Security Agreement (Latam Airlines Group S.A.)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes;
(ii) [reserved];
(iii) [reserved]; third, and
(iv) after giving effect to clause “second” paragraph (i) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to paragraph (xiiiSection 10.01(b) or (xiv) of Section 9.01) hereof), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 1 contract
Sources: Trust Indenture and Mortgage (United Airlines, Inc.)
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph clause (xiii) or (xivxvi) of Section 9.01) ), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ fourth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to the Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, after giving effect to clause “second” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; fourth, after giving effect to clause “third” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series C Equipment Notes shall be distributed to the Noteholders of Series C Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Equipment Note bears to the aggregate amount of the payments then due under all Series C Equipment Notes; fifth, after giving effect to clause “fourth” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiixv) or (xivxvi) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “thirdfifth” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ sixth¸ the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Sources: Indenture and Security Agreement (Spirit Airlines, Inc.)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA G-1 Equipment Notes and Series G-2 Equipment Notes shall be distributed to Noteholders of Series AA G-1 Equipment Notes and Series G-2 Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA G-1 Equipment Note or Series G-2 Equipment Note bears to the aggregate amount of the payments then due under all Series AA G-1 Equipment Notes and Series G-2 Equipment Notes; second, after giving effect to clause “"first” " above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and other overdue amounts) then due under all Series C Equipment Notes shall be distributed to Noteholders of Series C Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Equipment Note bears to the aggregate amount of the payments then due under all Series C Equipment Notes; third, after giving effect to clause "second" above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A D Equipment Notes shall be distributed to Noteholders of Series A D Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A D Equipment Note bears to the aggregate amount of the payments then due under all Series A D Equipment Notes; thirdand fourth, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Company.
Appears in 1 contract
Sources: Indenture and Security Agreement (Delta Air Lines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) ), so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ fourth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Basic Distributions. Except as otherwise provided in Sections 3.02, Section 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes Secured Certificates received by Loan the Indenture Trustee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes A-1 Secured Certificates and Series A-2 Secured Certificates shall be distributed to Noteholders the Certificate Holders of Series AA Equipment Notes A-1 and A-2 ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series A-1 Secured Certificates and Series A-2 Secured Certificates held by each Series AA Equipment Note Certificate Holder bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, A-1 Secured Certificates and Series A-2 Secured Certificates;
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes B Secured Certificates shall be distributed to Noteholders the Certificate Holders of Series A Equipment Notes B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series B Secured Certificates held by each Series A Equipment Note Certificate Holder bears to the aggregate amount of the payments then due under all Series A Equipment NotesB Secured Certificates; third, [and]
(iii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series C Secured Certificates shall be distributed to Noteholders the Certificate Holders of Additional Series Equipment Notes of such Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series C Secured Certificates held by each Additional Series Equipment Note of such Series Certificate Holder bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes C Secured Certificates[.] [; and] [(iv) after giving effect to paragraph (iii) above, so much of such Seriespayment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, provided that this clause “third” shall apply to each the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter D Secured Certificates shall be distributed to Company.the Certificate Holders of Series D ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series D Secured Certificates held by each Certificate Holder bears to the aggregate amount of the payments then due under all Series D Secured Certificates. -- A319's and 757's]
Appears in 1 contract
Sources: Trust Indenture and Security Agreement (Northwest Airlines Corp)
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by Company the Owner of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause “second” above (if any Additional Series Equipment Notes of a specified series shall have been issued hereunder and except as otherwise provided in an amendment to this Indenture clause “third” may be modified pursuant to paragraph clause (xiii) or (xivxv) of Section 9.01) 9.1 in connection with any issuance or redemption and issuance from time to time of Additional Series Equipment Notes of one or more series), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series such series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentseries; and fourth¸ fourth, the balance, if any, of such installment remaining thereafter shall be distributed to Companythe Owner.
Appears in 1 contract
Sources: Indenture and Security Agreement (Latam Airlines Group S.A.)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA A Equipment Notes shall be distributed to the Noteholders of Series AA A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA A Equipment Note bears to the aggregate amount of the payments then due under all Series AA A Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A B Equipment Notes shall be distributed to the Noteholders of Series A B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A B Equipment Note bears to the aggregate amount of the payments then due under all Series A B Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiixv) or (xivxvi) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ fourth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Sources: Indenture and Security Agreement (Spirit Airlines, Inc.)
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to the Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; fourth, after giving effect to clause “third” above (if any Additional Series Equipment Notes of a specified series shall have been issued hereunder and except as this clause “fourth” may be modified pursuant to clause (xv) of Section 9.01 in connection with any issuance or redemption and issuance from time to time of Additional Series Equipment Notes of one or more series), so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series such series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentseries; and fourth¸ fifth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Basic Distributions. Except as otherwise provided in Sections 3.02, Section 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each all Series A Equipment Notes held by such Note Holder bears to the aggregate amount of the such payments then due under all Series A Equipment Notes; third, ;
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest) then due under all Series B Equipment Notes shall be distributed to the Note Holders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series B Equipment Notes held by such Note Holder bears to the aggregate amount of such payments then due under all Series B Equipment Notes;
(iii) after giving effect to paragraphs (i) and (ii) above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, to the extent permitted by Law, on any overdue interest) then due under all Series C Equipment Notes shall be distributed to the Note Holders of Series C Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series C Equipment Notes held by such Note Holder bears to the aggregate amount of such payments then due under all Series C Equipment Notes; and
(iv) after giving effect to paragraphs (i), (ii) and (iii) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to Section 10.01(b) hereof), so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any other interest on any overdue amountsOriginal Amount and, to the extent permitted by Law, on any overdue interest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each all Additional Series Equipment Notes held by such Note of such Series Holder bears to the aggregate amount of the such payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 1 contract
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, ;
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series B Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series B Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series B Equipment Notes;
(iii) after giving effect to paragraph (ii) above, so much of such such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, to the extent permitted by Law, on any overdue interest) then due under all Series C Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Companythe Note Holders of Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Equipment Note bears to the aggregate amount of the payments then due under all Series C Equipment Notes; and
(iv) if any Series D Equipment Notes have been issued, after giving giving effect to paragraph (iii) above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, to the extent permitted by Law, on any overdue interest) then due under all Series D Equipment Notes shall be distributed to the Note Holders of Series D ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series D Equipment Note bears to the aggregate amount of the payments then due under all Series D Equipment Notes.
Appears in 1 contract
Sources: Trust Indenture and Mortgage (Continental Airlines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) ), so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ fourth, the balance, if any, of such installment remaining thereafter shall be distributed to Company.
Appears in 1 contract
Sources: Indenture and Security Agreement (Delta Air Lines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, Section 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, ;
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series B Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series B Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series B Equipment Notes;
(iii) after giving effect to paragraph (ii) above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, to the extent permitted by Law, on any overdue interest) then due under all Series C Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Companythe Note Holders of Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Equipment Note bears to the aggregate amount of the payments then due under all Series C Equipment Notes; and
(iv) after giving effect to paragraph (iii) above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest (as well as any interest on any overdue Original Amount and, to the extent permitted by Law, on any overdue interest) then due under all Series D Equipment Notes shall be distributed to the Note Holders of Series D ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series D Equipment Note bears to the aggregate amount of the payments then due under all Series D Equipment Notes.
Appears in 1 contract
Sources: Trust Indenture and Mortgage (Continental Airlines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any TRUST INDENTURE 2020-1 overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, ;
(ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest) then due under all Series B Equipment Notes shall be distributed to the Note Holders of Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes;
(iii) after giving effect to paragraph (ii) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to Section 10.01(b) hereof), so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of Original Amount and interest and (as well as any other interest on any overdue amountsOriginal Amount and, to the extent permitted by Law, on any overdue interest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 1 contract
Basic Distributions. Except as otherwise provided in Sections 3.02, Section 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes Secured Certificates received by Loan the Indenture Trustee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes G Secured Certificates shall be distributed to Noteholders the Certificate Holders of Series AA Equipment Notes G ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note G Secured Certificate bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, G Secured Certificates;
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes B Secured Certificates shall be distributed to Noteholders the Certificate Holders of Series A Equipment Notes B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note B Secured Certificate bears to the aggregate amount of the payments then due under all Series A Equipment NotesB Secured Certificates; third, and
(iii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series C Secured Certificates shall be distributed to Noteholders the Certificate Holders of Additional Series Equipment Notes of such Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series C Secured Certificate bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyC Secured Certificates.
Appears in 1 contract
Sources: Trust Indenture and Security Agreement (Northwest Airlines Inc /Mn)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 3.02 and 3.043.03, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan the Indenture Trustee shall be promptly distributed in the following order of priority: first, (i) so much of such installment or payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, (ii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiii) or (xiv) of Section 9.01) above, so much of such installment or payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series B Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series B Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series B Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ the balance(iii) after giving effect to paragraph (ii) above, if any, so much of such installment or payment remaining thereafter as shall be required to pay in full the aggregate amount of the payment or payments of Principal Amount and interest and other amounts (as well as any interest on any overdue Principal Amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series C Equipment Notes shall be distributed to Companythe Note Holders of Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Equipment Note bears to the aggregate amount of the payments then due under all Series C Equipment Notes.
Appears in 1 contract
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to the Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, after giving effect to clause “second” above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; Indenture and Security Agreement (American Airlines 2019-1 Aircraft EETC) [Reg. No.] fourth, after giving effect to clause “third” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph clause (xiii) or (xivxv) of Section 9.01) ), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “thirdfourth” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ fifth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Sources: Trust Supplement
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; third, after giving effect to clause “second” above (if any Additional Series Equipment Notes of a specified series shall have been issued hereunder and except as otherwise provided in an amendment to this Indenture clause “third” may be modified pursuant to paragraph clause (xiii) or (xivxv) of Section 9.01) 9.01 in connection with any issuance or redemption and issuance from time to time of Additional Series Equipment Notes of one or more series), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series such series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentseries; and fourth¸ fourth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Sources: Indenture and Security Agreement (American Airlines Inc)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, after giving effect to clause “second” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; fourth, after giving effect to clause “third” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “thirdfourth” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ fifth, the balance, if any, of such installment remaining thereafter shall be distributed to Company.
Appears in 1 contract
Sources: Indenture and Security Agreement (Delta Air Lines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA A Equipment Notes shall be distributed to the Noteholders of Series AA A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA A Equipment Note bears to the aggregate amount of the payments then due under all Series AA A Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A B Equipment Notes shall be distributed to the Noteholders of Series A B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A B Equipment Note bears to the aggregate amount of the payments then due under all Series A B Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiixv) or (xivxvi) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the Indenture and Security Agreement (Spirit 2015-1 EETC) [Reg. No.] amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ fourth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Sources: Indenture and Security Agreement
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 and 3.04, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA G-1 Equipment Notes and Series G-2 Equipment Notes shall be distributed to Noteholders of Series AA G-1 Equipment Notes and Series G-2 Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA G-1 Equipment Note or Series G-2 Equipment Note bears to the aggregate amount of the payments then due under all Series AA G-1 Equipment Notes and Series G-2 Equipment Notes; second, after giving effect to clause “"first” " above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A C Equipment Notes shall be distributed to Noteholders of Series A C Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A C Equipment Note bears to the aggregate amount of the payments then due under all Series A C Equipment Notes; and third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to Company.
Appears in 1 contract
Sources: Indenture and Security Agreement (Delta Air Lines Inc /De/)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.03 3.03, 3.04 and 3.043.05, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA G Equipment Notes shall be distributed to the Noteholders of Series AA G Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA G Equipment Note bears to the aggregate amount of the payments then due under all Series AA G Equipment Notes; second, after giving effect to clause “"first” " above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and other overdue amounts) then due under all Series C Equipment Notes shall be distributed to the Noteholders of Series C Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series C Equipment Note bears to the aggregate amount of the payments then due under all Series C Equipment Notes; third, after giving effect to clause "second" above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A D Equipment Notes shall be distributed to the Noteholders of Series A D Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A D Equipment Note bears to the aggregate amount of the payments then due under all Series A D Equipment Notes; thirdfourth, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) "third" above, if any Series E Notes have been issued hereunder, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series E Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series E Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series E Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series E Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ fifth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Sources: Indenture and Security Agreement (American Airlines Inc)
Basic Distributions. Except as otherwise provided in Sections 3.02, Section 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes Secured Certificates received by Loan the Indenture Trustee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes A Secured Certificates shall be distributed to Noteholders the Certificate Holders of Series AA Equipment Notes A ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series A Secured Certificates held by each Series AA Equipment Note Certificate Holder bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, A Secured Certificates;
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes B Secured Certificates shall be distributed to Noteholders the Certificate Holders of Series A Equipment Notes B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series B Secured Certificates held by each Series A Equipment Note Certificate Holder bears to the aggregate amount of the payments then due under all Series A Equipment NotesB Secured Certificates; third, and
(iii) after giving effect to clause “second” paragraph (ii) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to paragraph (xiiiSection 10.01(b) or (xiv) of Section 9.01) hereof), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series Secured Certificates shall be distributed to Noteholders the Certificate Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each all Additional Series Equipment Note of such Series Secured Certificates held by each Certificate Holder bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanySecured Certificates.
Appears in 1 contract
Sources: Trust Indenture and Security Agreement (Northwest Airlines Corp)
Basic Distributions. Except as otherwise provided in Sections 3.02, Section 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes Secured Certificates received by Loan the Indenture Trustee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes G-2 Secured Certificates shall be distributed to Noteholders the Certificate Holders of Series AA Equipment Notes G-2 ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series G-2 Secured Certificates held by each Series AA Equipment Note Certificate Holder bears to the aggregate amount of the payments then due under all Series AA Equipment NotesG-2 Secured Certificates; second, and
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Principal Amount and interest and other amounts (as well as any interest on any overdue principal amount Principal Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes C-2 Secured Certificates shall be distributed to Noteholders the Certificate Holders of Series A Equipment Notes C-2 ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under all Series C-2 Secured Certificates held by each Series A Equipment Note Certificate Holder bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiii) or (xiv) of Section 9.01) so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyC-2 Secured Certificates.
Appears in 1 contract
Sources: Trust Indenture and Security Agreement (Northwest Airlines Inc /Mn)
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to the Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, after giving effect to clause “second” above, so much of such payment remaining as shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series B Equipment Notes shall be distributed to the Noteholders of Series B Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series B Equipment Note bears to the aggregate amount of the payments then due under all Series B Equipment Notes; fourth, after giving effect to clause “third” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph clause (xiii) or (xivxv) of Section 9.01) ), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “thirdfourth” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ fifth, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
Appears in 1 contract
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series AA A-1 and Series A-2 Equipment Notes shall be distributed to Noteholders the Note Holders of Series AA Equipment Notes A-1 and Series A-2 ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA A-1 and Series A-2 Equipment Note bears to the aggregate amount of the payments then due under all Series AA A-1 and Series A-2 Equipment Notes; second, ;
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series A B Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes B ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A B Equipment Note bears to the aggregate amount of the payments then due under all Series A B Equipment Notes; third, and
(iii) after giving effect to clause “second” above (and except as otherwise provided in an amendment to this Indenture pursuant to paragraph (xiiiii) or (xiv) of Section 9.01) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series C Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series C ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series C Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series C Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
Appears in 1 contract
Sources: Trust Indenture and Mortgage (Southwest Airlines Co)
Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes;
(ii) [reserved];
(iii) [reserved]; third, and
(iv) after giving effect to clause “second” paragraph (i) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to paragraph (xiiiSection 10.01(b) or (xiv) of Section 9.01) hereof), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Junior Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Junior Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Junior Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Junior Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
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Sources: Trust Indenture and Spare Parts Mortgage (Frontier Group Holdings, Inc.)
Basic Distributions. Except as otherwise provided in Sections Section 3.02, Section 3.03 and Section 3.04, each periodic payment by the Company of regularly scheduled installments of principal or interest on the Equipment Notes received by the Loan Trustee shall be promptly distributed in the following order of priority: first, so much of such payment as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series AA Equipment Notes shall be distributed to Noteholders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, after giving effect to clause “first” above, so much of such payment remaining as is required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Series A Equipment Notes shall be distributed to the Noteholders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; thirdsecond, after giving effect to clause “secondfirst” above (if any Series B Equipment Notes shall have been issued hereunder and except as otherwise provided in an amendment to this Indenture clause “second” may be modified pursuant to paragraph clause (xiii) or (xivxvi) of Section 9.01) 9.01 in connection with the original issuance or subsequent redemption and issuance from time to time of such Series B Equipment Notes), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount and interest (as well as any interest on any overdue principal amount and, to the extent permitted by applicable law, on any overdue interest and any other overdue amounts) then due under all Additional Series B Equipment Notes of a specified Series shall be distributed to the Noteholders of Additional Series B Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series B Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series B Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of paymentNotes; and fourth¸ third, the balance, if any, of such installment remaining thereafter shall be distributed to the Company.
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Basic Distributions. Except as otherwise provided in Sections 3.02, 3.02 and 3.03 and 3.04hereof, each periodic payment by Company of regularly scheduled installments of principal or interest on the Equipment Notes received by Loan Trustee the Mortgagee shall be promptly distributed in the following order of priority: first, :
(i) so much of such payment as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series AA Equipment Notes shall be distributed to Noteholders the Note Holders of Series AA Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due TRUST INDENTURE 2024-1 (AA and A) under each Series AA Equipment Note bears to the aggregate amount of the payments then due under all Series AA Equipment Notes; second, ;
(ii) after giving effect to clause “first” paragraph (i) above, so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Series A Equipment Notes shall be distributed to Noteholders the Note Holders of Series A Equipment Notes ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Series A Equipment Note bears to the aggregate amount of the payments then due under all Series A Equipment Notes; third, and
(iii) after giving effect to clause “second” paragraph (ii) above (and except as otherwise provided in an amendment to this Trust Indenture pursuant to paragraph (xiiiSection 10.01(b) or (xiv) of Section 9.01) hereof), so much of such payment remaining as is shall be required to pay in full the aggregate amount of the payment or payments of principal amount Original Amount and interest (as well as any interest on any overdue principal amount Original Amount and, to the extent permitted by applicable lawLaw, on any overdue interest and any other overdue amountsinterest) then due under all Additional Series Equipment Notes of a specified Series shall be distributed to Noteholders the Note Holders of Additional Series Equipment Notes of such Series ratably, without priority of one over the other, in the proportion that the amount of such payment or payments then due under each Additional Series Equipment Note of such Series bears to the aggregate amount of the payments then due under all Additional Series Equipment Notes of such Series, provided that this clause “third” shall apply to each Series of Additional Series Equipment Notes in order of priority of payment; and fourth¸ the balance, if any, of such installment remaining thereafter shall be distributed to CompanyNotes.
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