Excepted Payment definition

Excepted Payment means any of the following payments received by a Secured Party in respect of any Secured Obligation: (a) any payment received from the Collateral Agent pursuant to Section 8.2, and (b) any payment received by a Bank from the Bank Security Agent (except to the extent the Bank Security Agent shall be deemed to have received a Liquidation Payment and paid all or any portion thereof to one or more of the Banks).
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Excepted Payment. “Guaranteed Parties”, “Guaranty”, “Indemnitee”, “Lessee Collateral”, “Lessee Stock Pledge”, “Material Default”, “Maximum Recourse Amount”, “Mortgage”, “Operative Documents”, “Security Agreement”, “Sublessee Security Agreement “ and “Sublessee Stock Pledge “ in their entirety and substituting the following in lieu thereof:
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Excepted Payment means and include (i) any indemnity, expense reimbursement or other such payment (whether or not Supplemental Rent) payable under any Operative Document or XM Agreement directly to Owner Participant or Trust Company; (ii) insurance proceeds, if any, payable to Owner Trustee or Owner Participant under any Additional Insurance as permitted by Section 9(d) of the Lease; (iii) any payments under liability insurance policies for the benefit of Owner Participant, Lessor or Trust Company; (iv) any amount payable to Owner Participant pursuant to the Tax Indemnification Agreement or for the account of Owner Participant, Trust Company or Owner Trustee pursuant to Article VI or VII of this Participation Agreement; (v) that portion of Base Rent, Stipulated Loss Value and EBO Amount payments attributable to Tax Indemnification Agreement obligations of Lessee; (vi) any amount payable to Trust Company or Owner Participant pursuant to Section 17 of the Lease; (vii) any payments under any Effective Equity Wrap, Beneficial Interest Purchase Price or Deferred Payment Note for the benefit of the Owner Participant; (viii) any payments made to Owner Participant pursuant to any Operative Document or XM Agreement in connection with a purchase of all or any portion of the Beneficial Interest; (ix) interest payable by Lessee to Trust Company, Owner Trustee or Owner Participant on any of the amounts described in clauses (i) through (viii) above and (x) below; and (x) any amounts payable to Owner Participant, Owner Trustee or Trust Company in respect of any guaranty of the amounts or obligations to pay the amounts described in clauses (i) through (ix); together with the right to demand, collect, ▇▇▇ for, or exercise remedies to enforce against Lessee or Guarantors, or otherwise obtain amounts referred to in clauses (i) through (ix) of this definition.
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Examples of Excepted Payment in a sentence

  • Notwithstanding any other provision of this Agreement or the Security Documents, any Excepted Payment received at any time by the Agent shall be distributed promptly to the Person entitled to receive such Excepted Payment.

  • Anything in this Article IV or elsewhere in this Trust Agreement to the contrary notwithstanding, any Excepted Payment received at any time by the Owner Trustee shall be distributed promptly to the Person entitled to receive such Excepted Payment.

  • Notwithstanding any other provision of this Agreement or the Security Documents, any Excepted Payment received at any time by the Administrative Agent shall be distributed promptly to the Person entitled to receive such Excepted Payment.

  • Notwithstanding any other provision of this Agreement or the Operative Documents, any Excepted Payment received at any time by the Agent shall be distributed promptly to the Person entitled to receive such Excepted Payment pursuant to the Operative Documents.

  • Notwithstanding anything to the contrary contained in this Section 5, each Excepted Payment shall be promptly distributed to the Person to whom such Excepted Payment is owed in accordance with the Basic Documents.

  • If there is any disagreement between Administrative Agent and Lessor as to whether any amount is an Excepted Payment, Lessor, Lessee and Guarantor shall abide by Administrative Agent's determination with respect to such amount.

  • All Supplemental Rent including any Excepted Payment payable to any Person pursuant to any Operative Document or any ▇▇▇▇▇▇ Agreement shall be paid to such Person as provided in such Operative Document or ▇▇▇▇▇▇ Agreement.

  • Anything in this Article 4 or elsewhere in this Indenture to the contrary notwithstanding, any Excepted Payment received at any time by the Indenture Trustee shall be distributed as promptly as practicable to the Person entitled to receive such Excepted Payment.

  • Anything in this Article IV or elsewhere in this Trust Agreement to the contrary notwith­standing, any Excepted Payment received at any time by the Owner Trustee shall be distributed promptly to the Person entitled to receive such Excepted Payment.

  • Notwithstanding anything in this ----------------- Section 3 or elsewhere in this Trust Agreement to the contrary, any Excepted Payment received at any time by the Trust shall be distributed promptly to the Person entitled to receive such Excepted Payment and shall not constitute a part of the Collateral pursuant to the Security Documents and shall not be paid to the Account.

Related to Excepted Payment

  • Excepted Payments means and include (i)(A) any right, title or interest to any indemnity (whether or not constituting Supplemental Rent and whether or not a Lease Event of Default exists) payable to either the Owner Lessor, the Lessor Manager, the Trust Company, or the Owner Participant or to their respective Indemnitees and successors and permitted assigns (other than the Indenture Trustee) pursuant to Section 2.3, 9.1, 9.2, 11.1 or 11.2 of the Participation Agreement, and any payments under any Tax Indemnity Agreement (provided that Excepted Payments shall not include any Periodic Rent) or (B) any amount payable by the Facility Lessee to the Owner Lessor or the Owner Participant to reimburse any such Person for its costs and expenses in exercising its rights under the Operative Documents or the South Point Ground Lease, (ii)(A) insurance proceeds, if any, payable to the Owner Lessor or the Owner Participant under insurance separately maintained by the Owner Lessor or the Owner Participant with respect to the Facility as permitted by Section 3(b) of Schedule 5.31 to the Participation Agreement or (B) proceeds of personal injury or property damage liability insurance maintained under any Operative Document or the South Point Ground Lease for the benefit of the Owner Lessor or the Owner Participant, (iii) any amount payable to the Owner Participant as the purchase price of the Owner Participant's right and interest in the Member Interest, (iv) all other fees expressly payable to the Owner Participant under the Operative Documents, (v) any payments in respect of interest, or any payments made on an After-Tax Basis, to the extent attributable to payments referred to in clause (i) through (vi) above; (vii) any amounts paid to the Owner Lessor as reimbursement for amounts expended pursuant to Section 20 of the Facility Lease; (viii) proceeds of the items referred to in clause (i) through (vii) above; and (ix) any rights to demand, collect, sue for, or otherwise receive and enforce payment of the foreg▇▇▇g amounts, including under the Calpine Guaranty, but without limiting clause (v) of this definition above.

  • Permitted Payment as defined in Subsection 8.2(b).

  • Restricted Payment means any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interests in the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests in the Borrower or any Subsidiary or any option, warrant or other right to acquire any such Equity Interests in the Borrower or any Subsidiary.

  • Permitted Payments has the meaning specified in Section 7.06(b).

  • Restricted Payment Conditions is defined in Section 10.9.