Common use of Subordinated Loan Clause in Contracts

Subordinated Loan. The Borrower shall not pay or repay any amount under the Subordinated Loan Agreement while the Secured Obligations remain outstanding provided that upon delivery of an Aircraft and following payment and repayment of principal, interest, breakage costs and the amounts allocable to such Aircraft and all other amounts the due and owing under the Mortgage, the Borrower may repay amounts payable under the Subordinated Loan Agreement to the extent of available funds at such time.

Subordinated Loan. The Borrower shall not pay or repay any amount under the Subordinated Loan Agreement while the Secured Obligations remain outstanding provided outstanding; provided, however, that upon delivery of an the Aircraft and following the payment and repayment of principal, interest, breakage costs Break Amount and the amounts allocable to such the Aircraft and all other amounts the due and owing under the MortgageMortgage and the other Operative Documents in full, the Borrower may repay amounts payable under the Subordinated Loan Agreement to the extent of available funds at such time.