Common use of Basic Distributions Clause in Contracts

Basic Distributions. Except as otherwise provided in ------------------- Section 3.03 hereof, each periodic payment of principal or interest on the Equipment Notes received by the Indenture Trustee shall be promptly distributed in the following order of priority: First, (i) so much of such payment 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 A-1 Equipment Notes, all Series A-2 Equipment Notes and all Series A-3 Equipment Notes shall be distributed to each Noteholder of Series A-1 Equipment Notes, Series A-2 Equipment Notes and Series A-3 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 A-1 Equipment Notes, all Series A-2 Equipment Notes and all Series A-3 Equipment Notes held by such Noteholder bears to the aggregate amount of the payments then due under all Series A-1 Equipment Notes, all Series A-2 Equipment Notes and all Series A-3 Equipment Notes;

Basic Distributions. Except as otherwise provided in ------------------- Section 3.03 hereof, each periodic payment of principal or interest on the Equipment Notes received by the Indenture Trustee shall be promptly distributed in the following order of priority: First, (i) so much of such payment 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 A-1 Equipment Notes, all Series A-2 Equipment Notes and all Series A-3 A-2 Equipment Notes shall be distributed to each Noteholder of Series A-1 Equipment Notes, Series A-2 Equipment Notes and Series A-3 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 all Series A-1 Equipment Notes, all Series A-2 Equipment Notes and all Series A-3 A-2 Equipment Notes held by such Noteholder bears to the aggregate amount of the payments then due under all Series A-1 Equipment Notes, Notes and all Series A-2 Equipment Notes and all Series A-3 Equipment Notes;