Common use of Meaning of Actually Received Clause in Contracts

Meaning of Actually Received. As used herein with respect to payments, “actually received” and words of like effect will include not only payments made directly from NAI or any Applicable Purchaser, but also amounts paid by others on NAI’s behalf, amounts realized by way of setoff, amounts realized upon the disposition of collateral under any documents that may be given from time to time to secure NAI’s obligations under the Lease or Purchase Agreement (net of the costs of disposition and further net of any amounts that must be returned to NAI or any third party having an interest in such collateral), and the fair market value of any property or services accepted in lieu of a cash payment (though it is understood that nothing herein contained will require BNPPLC to accept property or services in lieu of a cash payment required by the Operative Documents and that BNPPLC will not agree to accept property or services in lieu of any cash Distributable Payment without the Participants’ prior written consent). Also, with respect to Base Rent included in the definition of Net Cash Flow, any Base Rent that BNPPLC receives as calculated in the Lease during a Fixed Rate Lock Period will be deemed the “actual receipt” of Base Rent as adjusted in accordance with the definition of “Base Rent” set forth above. The phrase “actually received” will not, however, include amounts received by BNPPLC from any of the Participants or from any affiliate of BNPPLC unless the context otherwise indicates. Finally, if payments due to BNPPLC from NAI are reduced only because of credits attributable to a reduction of BNPPLC’s taxes not subject to indemnification by NAI, as described in subparagraph 4(C)(4) of the Lease, then the payments that BNPPLC would have received but for the credits will be considered as having been actually received by BNPPLC for purposes of this Agreement.

Meaning of Actually Received. As used herein with respect to payments, “actually received” and words of like effect will include not only payments made directly from NAI LRC or any Applicable Purchaser, but also amounts paid by others on NAILRC’s behalf, amounts realized by way of setoff, amounts realized upon the disposition of or through the application of collateral under the Pledge Agreement or any other documents that may be given from time to time to secure NAILRC’s obligations under the Lease or Purchase Agreement (net of the costs of disposition and further net of any amounts that must be returned to NAI LRC or any third party having an interest in such collateral), and the fair market value of any property or services accepted in lieu of a cash payment (though it is understood that nothing herein contained will require BNPPLC to accept property or services in lieu of a cash payment required by the Operative Documents and that BNPPLC will not agree to accept property or services in lieu of any cash Distributable Payment without the Participants’ prior written consent). Also, with respect to Base Rent included in the definition of Net Cash Flow, any Base Rent that BNPPLC receives as calculated in the Lease during a Fixed Rate Lock Period will be deemed the “actual receipt” of Base Rent as adjusted in accordance with the definition of “Base Rent” set forth above. The Such phrase “actually received” will not, however, include amounts received by BNPPLC from any of the Participants or from any affiliate of BNPPLC unless the context otherwise indicates. Finally, if payments due to BNPPLC from NAI LRC are reduced only because of credits attributable to a reduction of BNPPLC’s taxes not subject to indemnification by NAILRC, as described in subparagraph 4(C)(4) of the Lease, then the payments that BNPPLC would have received but for the credits will be considered as having been actually received by BNPPLC for purposes of this Agreement.