Common use of Interest Drawings Clause in Contracts

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA Certificates, the Class A Certificates or the Class B Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”) under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (x) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (y) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 4 contracts

Samples: Note Purchase Agreement (United Airlines, Inc.), Intercreditor Agreement (United Airlines, Inc.), Intercreditor Agreement (United Airlines, Inc.)

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Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA Certificates, the Class A Certificates or the Class B A Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”) under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (x) an amount sufficient to pay the amount of such accrued interest shortfall (at the applicable Stated Interest Rate for such Class of Certificates) and (y) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall upon receipt of such amount pay such amount to the Trustee with respect to each such Class of Certificates in payment of such accrued interestinterest shortfall.

Appears in 3 contracts

Samples: Intercreditor Agreement (Delta Air Lines, Inc.), Intercreditor Agreement (Jetblue Airways Corp), Intercreditor Agreement (Delta Air Lines Inc /De/)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A-1 Certificates, the Class A A-2 Certificates, the Class B Certificates, the Class C-1 Certificates or the Class B C-2 Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 1:00 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”"INTEREST DRAWING") under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (yii) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 3 contracts

Samples: Intercreditor Agreement (Continental Airlines Inc /De/), Intercreditor Agreement (Continental Airlines Inc /De/), Intercreditor Agreement (Continental Airlines Inc /De/)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A Certificates, the Class A B Certificates or the Class B C Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. 12:00 noon (New York City time) on the Business Day following such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”"INTEREST DRAWING") under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (yii) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 3 contracts

Samples: Intercreditor Agreement (Continental Airlines Inc /De/), Intercreditor Agreement (Northwest Airlines Corp), Intercreditor Agreement (Continental Airlines Inc /De/)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A-1 Certificates, the Class A A-2 Certificates, the Class B Certificates or the Class B C Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 1:00 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an "Interest Drawing") under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for each such Class of Certificates) and (yii) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall upon receipt of such amount pay such amount to the Trustee with respect to each such Class of Certificates in payment of such accrued interestinterest as provided in Section 3.06(b).

Appears in 2 contracts

Samples: Intercreditor Agreement (Delta Air Lines Inc /De/), Intercreditor Agreement (Delta Air Lines Inc /De/)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A-1 Certificates, the Class A A-2 Certificates, the Class B Certificates or the Class B C Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 1:00 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”"INTEREST DRAWING") under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (yii) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 2 contracts

Samples: Intercreditor Agreement (Continental Airlines Inc /De/), Intercreditor Agreement (Continental Airlines Inc /De/)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA Certificates, the Class A Pass Through Certificates or the Class B Pass Through Certificates (at the Stated Interest Rate for such Class of Pass Through Certificates), then, prior to 12:30 p.m. 12:00 noon (New York City time) on the Business Day following such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an "Interest Drawing") under the Liquidity Facility with respect to such Class of Pass Through Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Pass Through Certificates) and (yii) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Pass Through Trustee with respect to such Class of Pass Through Certificates in payment of such accrued interest.

Appears in 2 contracts

Samples: Intercreditor Agreement (Federal Express Corp), Intercreditor Agreement (Federal Express Corp)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A Certificates, the Class A B Certificates or the Class B C Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. 12:00 noon (New York City time) on the Business Day following such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an "Interest Drawing") under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (yii) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 2 contracts

Samples: Intercreditor Agreement (America West Airlines Inc), Intercreditor Agreement (America West Airlines Inc)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA Certificates, the Class A Certificates or the Class B Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. 10:00 a.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”) under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (x) an amount sufficient to pay the amount of such accrued interest shortfall (at the applicable Stated Interest Rate for such Class of Certificates) and (y) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall upon receipt of such amount pay such amount to the Trustee with respect to each such Class of Certificates in payment of such accrued interestinterest shortfall.

Appears in 2 contracts

Samples: Intercreditor Agreement (American Airlines Inc), Intercreditor Agreement (American Airlines Inc)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A Certificates, the Class A B Certificates or the Class B C Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 1:00 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”"INTEREST DRAWING") under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (yii) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 1 contract

Samples: Intercreditor Agreement (Continental Airlines Inc /De/)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A-1 Certificates, the Class A A-2 Certificates, the Class B Certificates or the Class B C Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. 12:00 noon (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawingdrawing or payment, an "Interest Drawing") under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (yii) the Available Amount at such time under such Liquidity Facility, and (ii) and, upon receipt by the Subordination Agent thereof, shall pay such amount amounts to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 1 contract

Samples: Intercreditor Agreement (United Air Lines Inc)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA Certificates, the Class A Certificates or the Class B Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”) under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (x) an amount sufficient to pay the amount of such accrued interest shortfall (at the applicable Stated Interest Rate for such Class of Certificates) and (y) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall upon receipt of such amount pay such amount to the Trustee with respect to each such Class of Certificates in payment of such accrued interest.interest shortfall. American Airlines Aircraft EETC

Appears in 1 contract

Samples: Intercreditor Agreement (American Airlines Inc)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A Certificates, the Class A B Certificates or the Class B C Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. (New 1:00 p.m.(New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an "Interest Drawing") under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (yii) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 1 contract

Samples: Intercreditor Agreement (Us Airways Inc)

Interest Drawings. If on any Distribution -------------------- ----------------- Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A-1 Certificates, the Class A A-2 Certificates or the Class B Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. 12:00 noon (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawingdrawing or payment, an "Interest Drawing") under ---------------- the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (yii) the Available Amount at such time under such Liquidity Facility, and (ii) and, upon receipt by the Subordination Agent thereof, shall pay such amount amounts to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 1 contract

Samples: Intercreditor Agreement (United Air Lines Inc)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA Certificates, the Class A Certificates or or, if applicable, the Class B Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 12:00 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”) under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (x) an amount sufficient to pay the amount of such accrued interest shortfall (at the applicable Stated Interest Rate for such Class of Certificates) and (y) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interestinterest shortfall.

Appears in 1 contract

Samples: Intercreditor Agreement (United Airlines, Inc.)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A Certificates, the Class A B Certificates or the Class B C Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. 12:00 noon (New York City time) on the Business Day following such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”"INTEREST DRAWING") under the each Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) the Stated Portion (with respect to such Liquidity Facility) of an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (yii) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 1 contract

Samples: Intercreditor Agreement (Continental Airlines Inc /De/)

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Interest Drawings. If on any -------------------- ----------------- Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A Certificates, the Class A B Certificates or the Class B C Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 1 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an "Interest Drawing") under the Liquidity ---------------- Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and or (yii) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 1 contract

Samples: Intercreditor Agreement (Midway Airlines Corp)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA Certificates, the Class A Certificates or the Class B Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. P.M. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”) under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (x) an amount sufficient to pay the amount of such accrued interest shortfall (at the applicable Stated Interest Rate for such Class of Certificates) and (y) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall upon receipt of such amount pay such amount to the Trustee with respect to each such Class of Certificates in payment of such accrued interestinterest shortfall.

Appears in 1 contract

Samples: Intercreditor Agreement (Alaska Air Group, Inc.)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A Certificates, the Class A B Certificates or the Class B C Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. 12:00 noon (New York City time) on the Business Day following such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an "Interest Drawing") under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (yii) the Maximum Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 1 contract

Samples: Intercreditor Agreement (Continental Airlines Inc /De/)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA Certificates, the Class A Certificates or the Class B Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”) under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (x) an amount sufficient to pay the amount of such accrued interest shortfall (at the applicable Stated Interest Rate for such Class of Certificates) and (y) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall upon receipt of such amount pay such amount to the Trustee with respect to each such Class of Certificates in payment of such accrued interestinterest shortfall.

Appears in 1 contract

Samples: Intercreditor Agreement (Delta Air Lines Inc /De/)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A Certificates, the Class A B Certificates or the Class B C Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. 12:00 noon (New York City time) on the Business Day following such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”"INTEREST DRAWING") under the each Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (yii) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 1 contract

Samples: Intercreditor Agreement (Continental Airlines Inc /De/)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A Certificates, the Class A B Certificates or the Class B C Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 1 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an "Interest Drawing") under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (yii) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

Appears in 1 contract

Samples: Intercreditor Agreement (Midway Airlines Corp)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA Certificates, the Class A Certificates or the Class B Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”) under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (x) an amount sufficient to pay the amount of such accrued interest shortfall (at the applicable Stated Interest Rate for such Class of Certificates) and (y) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall upon receipt of such amount pay such amount to the Trustee with respect to each such Class of Certificates in payment of such accrued interest.interest shortfall. Amended and Restated Intercreditor Agreement (2019-1)

Appears in 1 contract

Samples: Intercreditor Agreement (Jetblue Airways Corp)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA A Certificates, the Class A B Certificates or the Class B C Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. 12:00 noon (New York City time) on the Business Day following such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an "Interest Drawing") under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (xi) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (yii) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.respect

Appears in 1 contract

Samples: Intercreditor Agreement (America West Airlines Inc)

Interest Drawings. If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class AA Certificates, the Class A Certificates or the Class B Certificates (at the Stated Interest Rate for such Class of Certificates), then, prior to 12:30 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”) under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (x) an amount sufficient to pay the amount of such accrued interest shortfall (at the applicable Stated Interest Rate for such Class of Certificates) and (y) the Available Amount under such Liquidity Facility, and (ii) the Subordination Agent shall upon receipt of such amount pay such amount to the Trustee with respect to each such Class of Certificates in payment of such accrued interestinterest shortfall.

Appears in 1 contract

Samples: Intercreditor Agreement (Jetblue Airways Corp)

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