Common use of Other Dispositions Clause in Contracts

Other Dispositions. Notwithstanding the foregoing provisions of this Article, so long as an Event of Default shall have occurred and be continuing, any amount that would otherwise be payable to or for the account of, or that would otherwise be retained by, Lessee pursuant to this Article shall be paid to Lessor as security for the obligations of Lessee under this Lease and, at such time thereafter as no Event of Default shall be continuing, such amount shall be paid promptly to Lessee to the extent not previously applied by Lessor in accordance with the terms of this Lease or the other Operative Documents.

Appears in 6 contracts

Samples: Master Lease and Development Agreement (Eagle Usa Airfreight Inc), Lease and Development Agreement (Eagle Usa Airfreight Inc), Lease and Development Agreement (Huffy Corp)

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Other Dispositions. Notwithstanding the foregoing provisions of this ArticleARTICLE XI, so long as an Event of Default shall have occurred and be continuing, any amount that would otherwise be payable to or for the account of, or that would otherwise be retained by, the Lessee pursuant to this Article ARTICLE XI shall be paid to the Lessor as security for the obligations of the Lessee under this Lease and, at such time thereafter as no Event of Default shall be continuing, such amount shall be paid promptly to the Lessee to the extent not previously applied by the Lessor in accordance with the terms of this Lease or the other Operative Documents.

Appears in 1 contract

Samples: Lease Agreement (Minnesota Power Inc)

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