Common use of Payment of Swap Breakage Gain Clause in Contracts

Payment of Swap Breakage Gain. The Junior Purchaser agrees that, so long as no Special Default or Event of Default shall have occurred and be continuing, it shall promptly pay to the Lessee at such account as the Lessee may specify any Swap Breakage Gain in respect of the Junior Notes, except that it may first deduct therefrom any amounts then due and payable to it under the Operative Documents and apply any amount so retained to the satisfaction thereof. Each Holder of a Junior Note may retain any Swap Breakage Gain that arises after the occurrence of a Special Default or an Event of Default as security for the obligations of the Owner until the earlier of (i) the date that such Special Default or Event of Default is cured by the Owner (or, if such Holder reasonably anticipates that its costs and expenses incurred in connection with such Special Default or Event of Default cannot be determined at such time, the earlier of (x) the date such costs and expenses can be determined and (y) five Business Days after the date such Special Default or Event of Default is cured), promptly following which date such amount shall be paid over to the Owner (or its designee), except that such Holder may first deduct therefrom any amounts then due and payable to it under the Operative Documents and apply any amount so retained to the satisfaction thereof, or (ii) the date that Section 5.07 of the Mortgage shall be applicable, promptly following which date such amounts shall be remitted to the Security Trustee for application as provided in such Section 5.07.

Payment of Swap Breakage Gain. The Junior Purchaser Loan Participant agrees that, so long as no Special Default or Event of Default shall have occurred and be continuing, it shall promptly pay to the Lessee Borrower at such account as the Lessee Borrower may specify any Swap Breakage Gain in respect of the Junior NotesLoan Certificates, except that it may first deduct therefrom any amounts then due and payable owing to it under the Operative Documents and apply any amount so retained to the satisfaction thereof. Each Holder of a Junior Note may retain any Swap Breakage Gain that arises after the occurrence of a Special Default or an Event of Default as security for the obligations of the Owner Borrower until the earlier of (i) the date that such Special Default or Event of Default is cured by the Owner Borrower (or, if such Holder reasonably anticipates that its costs and expenses incurred in connection with such Special Default or Event of Default cannot be determined at such time, the earlier of (x) the date such costs and expenses can be determined and (y) five Business Days after the date such Special Default or Event of Default is cured), promptly following which date such amount shall be paid over to the Owner (or its designee)Borrower, except that such Holder may first deduct therefrom any amounts then due and payable owing to it under the Operative Documents and apply any amount so retained to the satisfaction thereof, or (ii) the date that Section 5.07 9.07 of the Mortgage shall be applicable, promptly following which date such amounts shall be remitted to the Security Trustee for application as provided in such Section 5.079.07.

Payment of Swap Breakage Gain. The Junior Purchaser Each Senior Loan Participant agrees that, so long as no Special Default or Event of Default shall have occurred and be continuing, it shall promptly pay to the Lessee Borrower at such account as the Lessee Borrower may specify any Swap Breakage Gain in respect of the Junior NotesSenior Loan Certificates, except that it may first deduct therefrom any amounts then due and payable owing to it under the Operative Documents and apply any amount so retained to the satisfaction thereof. Each Holder of a Junior Note may retain any Swap Breakage Gain that arises after the occurrence of a Special Default or an Event of Default as security for the obligations of the Owner Borrower until the earlier of (i) the date that such Special Default or Event of Default is cured by the Owner Borrower (or, if such Holder reasonably anticipates that its costs and expenses incurred in connection with such Special Default or Event of Default cannot be determined at such time, the earlier of (x) the date such costs and expenses can be determined and (y) five Business Days after the date such Special Default or Event of Default is cured), promptly following which date such amount shall be paid over to the Owner (or its designee)Borrower, except that such Holder may first deduct therefrom any amounts then due and payable owing to it under the Operative Documents and apply any amount so retained to the satisfaction thereof, or (ii) the date that Section 5.07 9.07 of the Mortgage shall be applicable, promptly following which date such amounts shall be remitted to the Security Trustee for application as provided in such Section 5.079.07.

Payment of Swap Breakage Gain. The Junior Purchaser Each Tranche B Loan Participant agrees that, so long as no Special Default or Event of Default shall have occurred and be continuing, it shall promptly pay to the Lessee Borrower at such account as the Lessee Borrower may specify any Swap Breakage Gain in respect of the Junior NotesTranche B Loan Certificates, except that it may first deduct therefrom any amounts then due and payable owing to it under the Operative Documents and apply any amount so retained to the satisfaction thereof. Each Holder of a Junior Note Tranche B Loan Participant may retain any Swap Breakage Gain that arises after the occurrence of a Special Default or an Event of Default as security for the obligations of the Owner Borrower until the earlier of (i) the date that such Special Default or Event of Default is cured by the Owner Borrower (or, if such Holder reasonably anticipates that its costs and expenses incurred in connection with such Special Default or Event of Default cannot be determined at such time, the earlier of (x) the date such costs and expenses can be determined and (y) five Business Days after the date such Special Default or Event of Default is cured), promptly following which date such amount shall be paid over to the Owner (or its designee)Borrower, except that such Holder may first deduct therefrom any amounts then due and payable owing to it under the Operative Documents and apply any amount so retained to the satisfaction thereof, or (ii) the date that Section 5.07 9.07 of the Mortgage shall be applicable, promptly following which date such amounts shall be remitted to the Security Trustee for application as provided in such Section 5.079.07. Payment of Swap Breakage Gain shall not be required with respect to the Tranche B Loan Certificates should the Delivery Date be delayed or not occur.

Payment of Swap Breakage Gain. The Junior Purchaser Each Tranche A Loan Participant agrees that, so long as no Special Default or Event of Default shall have occurred and be continuing, it shall promptly pay to the Lessee Borrower at such account as the Lessee Borrower may specify any Swap Breakage Gain in respect of the Junior NotesTranche A Loan Certificates, except that it may first deduct therefrom any amounts then due and payable owing to it under the Operative Documents and apply any amount so retained to the satisfaction thereof. Each Holder of a Junior Note Tranche A Loan Participant may retain any Swap Breakage Gain that arises after the occurrence of a Special Default or an Event of Default as security for the obligations of the Owner Borrower until the earlier of (i) the date that such Special Default or Event of Default is cured by the Owner Borrower (or, if such Holder reasonably anticipates that its costs and expenses incurred in connection with such Special Default or Event of Default cannot be determined at such time, the earlier of (x) the date such costs and expenses can be determined and (y) five Business Days after the date such Special Default or Event of Default is cured), promptly following which date such amount shall be paid over to the Owner (or its designee)Borrower, except that such Holder may first deduct therefrom any amounts then due and payable owing to it under the Operative Documents and apply any amount so retained to the satisfaction thereof, or (ii) the date that Section 5.07 9.07 of the Mortgage shall be applicable, promptly following which date such amounts shall be remitted to the Security Trustee for application as provided in such Section 5.079.07.