Lease Payment Allocation Amount definition
Lease Payment Allocation Amount means, (A) on each of the first three Weekly Allocation Dates that occur during each Monthly Collection Period, an amount equal to one-third of the Lease Payments scheduled to be paid on the Sale/Leaseback Leases, if any, over the immediately following Monthly Collection Period together with the shortfall, if any, in the amount required to be deposited to the Lease Payment Account pursuant to Section 10.1(b)(iii)(3) of the Indenture on any preceding Weekly Allocation Date (unless the related Lease Payment has already been paid in full or discharged) and (B) on the fourth and (if applicable) fifth Weekly Allocation Date that occurs during each Monthly Collection Period, the shortfall, if any, in the amount required to be deposited to the Lease Payment Account pursuant to Section 10.1(b)(iii)(3) of the Indenture on any preceding Weekly Allocation Date (unless the related Lease Payment has already been paid in full or discharged). The Servicer shall cause all Lease Payment Allocation Amounts to be remitted to the Lease Payment Account (including by transferring the title to any such account to the Master Issuer and/or causing such account to become the Lease Payment Account) on each Weekly Allocation Date. The Servicer shall apply amounts on deposit in the Lease Payment Account on any Business Day to make Lease Payments under Sale/Leaseback Leases on behalf of the Restaurant Holders and the Predecessor Restaurant Holders (in respect of Post-Closing U.S. Restaurants) in accordance with the Leases.
Examples of Lease Payment Allocation Amount in a sentence
On each Weekly Allocation Date, the Lease Payment Allocation Amount required to be paid on Sale/Leaseback Leases shall be withdrawn from the Concentration Account and deposited into the Lease Payment Account.