Predelivery Funding. On the date hereof, the proceeds from the issuance of the Applicable Certificates will be deposited in the Deposit Accounts on behalf of the Escrow Agent. Pursuant to the terms of the Deposit Agreement and the Note Purchase Agreement, a portion of the proceeds from the issuance of the Applicable Certificates will be withdrawn from the Deposit Account on any date on which an Owner Trustee (in the case of a Leased Aircraft) or the Company (in the case of an Owned Aircraft) issues Equipment Notes with respect to an Aircraft.
Predelivery Funding. During the period between the date of issuance of Equipment Certificates by the Owner Trustee in respect of Federal Express Corporation Trust No. N_____FE and the delivery date of the related Aircraft, such Equipment Certificates will not be secured by such Aircraft or the related Lease, but will be secured by the Collateral Account. Pursuant to the related Indenture, the Owner Trustee will deposit the proceeds from the sale of the related Equipment Certificates into the Collateral Account for the benefit of the related Indenture Trustee. Sums deposited in the Collateral Account will be invested as set forth in the Related Indenture.
Predelivery Funding. During the period between the date of issuance of Equipment Notes by the Owner Trustee in respect of NWA Trust Nos. NWA 1997 G, NWA 1997 H, NWA 1997 I, NWA 1997 J, NWA 1997 K and NWA 1997 L, and the earliest to occur of (i) the date of sale to an Owner Trustee of the related Aircraft, (ii) the date of assumption by the Company of the Equipment Notes and (iii) the date of redemption of the Equipment Notes under Section 2.10(c), 2.10(d) or 2.10(e) of the Indenture, such Equipment Notes will not be secured by such Aircraft or the related Lease, but will be secured by the Prefunding Collateral Account. Pursuant to the related Indenture, the Loan Trustee on behalf of the related Owner Trustee will deposit the proceeds from the sale of the related Equipment Notes into the Prefunding Collateral Account for the benefit of the Loan Trustee. Sums deposited in each Prefunding Collateral Account will be invested as set forth in the related Indenture.
Predelivery Funding. 8 SECTION 3.08. ERISA.............................................. 8 SECTION 3.09. Registered Global Certificate...................... 8 ARTICLE IV MISCELLANEOUS
Predelivery Funding. 8 SECTION 3.08. ERISA.................................................... 9 SECTION 3.09.
Predelivery Funding. During the period between the date of issuance of Equipment Certificates by the Owner Trustee in respect of Federal Express Corporation Trust Nos. N670FE, N671FE, N672FE, N673FE, N674FE, N581FE, N583FE and N584FE and the Aircraft Delivery Date for the related Aircraft, such Equipment Certificates will not be secured by such Aircraft or the related Lease, but will be secured by each Collateral Account. Pursuant to the related Indenture, the Indenture Trustee on behalf of the related Owner Trustee will deposit the proceeds from the sale of the related Equipment Certificates into each Collateral Account. Sums deposited in each Collateral Account will be invested as set forth in the Related Indenture.
Predelivery Funding. During the period between the date of issuance of Equipment Certificates by the Owner Trustee in respect of Federal Express Corporation Trust Nos. N585FE, N676FE, N677FE, N678FE, N679FE, N680FE, N681FE, N682FE, N620FE, N621FE and N623FE and the Aircraft Delivery Date for the related Aircraft, such Equipment Certificates will not be secured by such Aircraft or the related Lease, but will be secured by the related Collateral Account. Any such Equipment Certificates that are outstanding following the Aircraft Delivery Date for the related Aircraft and are required to be prepaid on the Series C Prepayment Date pursuant to Section 6.02(a)(viii) of the related Indenture shall be secured by the related Collateral Account to and including the Series C Prepayment Date. Pursuant to the related Indenture, the Indenture Trustee on behalf of the related Owner Trustee will deposit the proceeds from the sale of the related Equipment Certificates into the related Collateral Account. Sums deposited in each Collateral Account will be invested as set forth in the Related Indenture.
Predelivery Funding. During the period between the date of issuance of Equipment Certificates by the Owner Trustee in respect of Federal Express Corporation Trust No. N_____FE and the delivery date of the related Aircraft, such Equipment Certificates will not be secured by such Aircraft or the related Lease, but will be secured by the Collateral Account. Pursuant to the related Indenture, the Owner Trustee will deposit the proceeds from the sale of the related Equipment Certificates into the Collateral Account for the benefit of the related Indenture Trustee. Sums deposited in the Collateral Account will be invested in: (a) direct obligations of the United States of America or obligations fully guaranteed by the United States of America; (b) commercial paper rated A- 1/P-1 by Standard & Poor's Ratings Group and Xxxxx'x Investors Service, Inc., respectively or, if such ratings are unavailable, rated by any nationally recognized rating organization in the United States equal to the highest rating assigned by such rating organization; (c) overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers; and (d) overnight repurchase agreements with respect to the securities described in clause (a) above entered into with an office of a bank or trust company which is located in the United States of America of any bank or trust company which is organized under the laws of the United States or any state thereof and has capital, surplus and undivided profits aggregating at least $500 million. The Company will pay to the Indenture Trustee on demand any losses on such investments. On the delivery date of such Aircraft, upon satisfaction or waiver of the conditions to the Indenture Trustee's release of amounts in the Collateral Account, the Indenture Trustee will release such amounts. Such amounts will be applied by the Indenture Trustee in accordance with the related Participation Agreement to pay a portion of the purchase price for such Aircraft on the delivery date thereof. The Company will pay to the Indenture Trustee on such delivery date the excess, if any, of the portion of the purchase price for such Aircraft required to be paid by the Indenture Trustee over the amounts released from the Collateral Account net of investment earnings (which will be paid to the Company). The Company is obligated to cause the proceeds of the Equipment Certificates to be utilized to acquire such Aircraft in all circumstances other than the failure of t...
Predelivery Funding. During the period between the date of issuance of Equipment Certificates by the Owner Trustee in respect of Federal Express Corporation Trust No. N663FE and the delivery date of the related Aircraft, such Equipment Certificates will not be secured by such Aircraft or the related Lease, but will be secured by the Collateral Account. Pursuant to the related Indenture, the Owner Trustee will deposit the proceeds from the sale of the related Equipment Certificates into the Collateral Account for the benefit of the related Indenture Trustee. Sums deposited in the Collateral Account will be invested in direct obligations of the United States of America or obligations fully guaranteed by the United States of America and the Company will pay to the Indenture Trustee on demand any losses on such investments. On the delivery date of such Aircraft, upon satisfaction or waiver of the conditions to the Indenture Trustee's release of amounts in the Collateral Account, the Indenture Trustee will release such amounts. Such amounts will be applied by the Indenture Trustee in accordance with the related Participation Agreement to pay a portion of the purchase price for such Aircraft on the delivery date thereof.
