Common use of Proceeds Deficiency Drawing Clause in Contracts

Proceeds Deficiency Drawing. If at any time after the Acceleration of the Securities, there is a sale or other disposition of an ACS Group Aircraft (not including any ACS Group Aircraft acquired by way of contribution) or of an ACS Group Subsidiary that owns an ACS Group Aircraft (not including any ACS Group Aircraft acquired by way of contribution) by, on behalf of or at the direction of the Controlling Party, and there is a Deficiency Shortfall resulting therefrom (calculated as provided in Section 3.06(i)(ii)), the Cash Manager shall, prior to 12:00 p.m. (New York City time) on the third Business Day prior to the next succeeding Regular Distribution Date, instruct the Drawing Agent to request and the Drawing Agent, no later than 12:00 p.m. (New York City time) on the second Business Day prior to such Regular Distribution Date, shall request a Policy Drawing (each a "Deficiency Drawing") under the Policy in an amount equal to the Deficiency Shortfall (for payment into the Certificate Account) with respect to such Regular Distribution Date. Any request received after 12:00 p.m. (New York City time) on any Business Day shall be deemed to have been received by the Policy Provider on the next Business Day. Upon receipt of any such request, the Policy Provider or its fiscal agent shall, no later than 12:00 p.m. (New York City time) on the later of (i) the applicable Regular Distribution Date and (ii) the second Business Day following the Business Day on which the Policy Provider received the Drawing Agent's request referred to above, pay under the Policy, in respect of the Certificates, an amount equal to the Deficiency Shortfall for the Certificates with respect to such Regular Distribution Date. Upon receipt, the Pass Through Trustee shall direct the payment of the amount in the Certificate Account to the holders of the Certificates in payment of the Deficiency Shortfall therefor.

Proceeds Deficiency Drawing. If at any time after the an Acceleration of the SecuritiesNotes, there is a sale or other disposition of an ACS Group Aircraft (not including any ACS Group Aircraft acquired by way of contribution) or of an ACS Group Issuer Subsidiary that owns an ACS Group Aircraft (not including any ACS Group Aircraft acquired by way of contribution) ), in each case, by, on behalf of or at the direction of the Controlling Party, and there is a Deficiency Class G Shortfall resulting therefrom (calculated as provided in Section 3.06(i)(ii3.07(g)(ii)), the Cash Manager shall, prior to 12:00 p.m. (New York City time) on the third Business Day prior to the next succeeding Regular Distribution Payment Date, instruct the Drawing Agent Trustee to request and the Drawing AgentTrustee, no later than 12:00 p.m. (New York City time) on the second Business Day prior to such Regular Distribution Payment Date, shall request a Policy Drawing (each each, a "“Deficiency Drawing"”) under the Policy in respect of the Class G-1 Notes in an amount equal to the Deficiency Class G Shortfall with respect to such Payment Date (for payment into the Certificate related Note Account) with respect to on such Regular Distribution Payment Date. Any request received after 12:00 p.m. (New York City time) on any Business Day or on any day that is not a Business Day shall be deemed to have been received by the Policy Provider on the next Business Day. Upon receipt of any such request, the Policy Provider or its fiscal agent shall, no later than 12:00 p.m. (New York City time) on the later of (i) the applicable Regular Distribution Payment Date and (ii) the second Business Day following the Business Day on which the Policy Provider received the Drawing Agent's Trustee’s request referred to above, pay under the Policy, in respect of the Certificates, Policy an amount equal to the Deficiency Class G Shortfall for the Certificates Class G-1 Notes with respect to such Regular Distribution Payment Date. Upon receipt, the Pass Through Trustee shall direct the payment of the amount in the Certificate applicable Note Account to the holders of the Certificates Class G-1 Notes in payment of the Deficiency Class G Shortfall therefor.

Proceeds Deficiency Drawing. If at any time after an Event of Default with respect to the Acceleration Class G Notes (including, for the avoidance of the Securitiesdoubt, any Event of Default described in Section 4.01(d), (e), (f), (g) and (h)), there is a sale or other disposition of an ACS Group Aircraft (not including any ACS Group Aircraft acquired by way of contribution) or of an ACS Group Issuer Subsidiary that owns an ACS Group Aircraft (not including any ACS Group Aircraft acquired in each case, by way of contribution) by, or on behalf of of, or at the direction of, the Controlling Party after an Acceleration of the Controlling PartyNotes, and there is a Deficiency Class G Shortfall resulting therefrom (calculated as provided in Section 3.06(i)(ii3.07(h)(ii)), the Cash Manager shall, prior to 12:00 p.m. (New York City time) on the third Business Day prior to the next succeeding Regular Distribution Payment Date, instruct the Drawing Agent Trustee to request and the Drawing AgentTrustee, no later than 12:00 p.m. (New York City time) on the second Business Day prior to such Regular Distribution Payment Date, shall request a Policy Drawing (each each, a "“Deficiency Drawing"”) under the Policy in respect of the Class G-3 Notes (for payment into the related Note Account) in an amount equal to the Deficiency Class G Shortfall for the Class G-3 Notes with respect to such Payment Date (for payment into the Certificate related Note Account) with respect to on such Regular Distribution Payment Date. Any request received after 12:00 p.m. (New York City time) on any Business Day shall be deemed to have been received by the Policy Provider on the next Business Day. Upon receipt of any such request, the Policy Provider or its fiscal agent shall, no later than 12:00 p.m. (New York City time) on the later of (i) the applicable Regular Distribution Payment Date and (ii) the second Business Day following the Business Day on which the Policy Provider received the Drawing Agent's Trustee’s request referred to above, pay under the Policy, in respect of the Certificates, Class G-3 Notes an amount equal to the Deficiency Class G Shortfall for the Certificates Class G-3 Notes with respect to such Regular Distribution Payment Date. Upon receipt, the Pass Through Trustee shall direct the payment of the amount in the Certificate such Note Account to the holders Holders of the Certificates Class G-3 Notes in payment of the Deficiency Class G Shortfall therefor.

Proceeds Deficiency Drawing. If at any time after the Acceleration of the Securities, there is a sale or other disposition of an ACS Group Aircraft (not including any ACS Group Aircraft acquired by way of contribution) or of an ACS Group Subsidiary that owns an ACS Group Aircraft (not including any ACS Group Aircraft acquired by way of contribution) 103 by, on behalf of or at the direction of the Controlling Party, and there is a Deficiency Shortfall resulting therefrom (calculated as provided in Section 3.06(i)(ii)), the Cash Manager shall, prior to 12:00 p.m. (New York City time) on the third Business Day prior to the next succeeding Regular Distribution Date, instruct the Drawing Agent to request and the Drawing Agent, no later than 12:00 p.m. (New York City time) on the second Business Day prior to such Regular Distribution Date, shall request a Policy Drawing (each a "“Deficiency Drawing"”) under the Policy in an amount equal to the Deficiency Shortfall (for payment into the Certificate Account) with respect to such Regular Distribution Date. Any request received after 12:00 p.m. (New York City time) on any Business Day or any day that is not a Business Day shall be deemed to have been received by the Policy Provider on the next Business Day. Upon receipt of any such request, the Policy Provider or its fiscal agent shall, no later than 12:00 p.m. (New York City time) on the later of (i) the applicable Regular Distribution Date and (ii) the second Business Day following the Business Day on which the Policy Provider received the Drawing Agent's ’s request referred to above, pay under the Policy, in respect of the Certificates, an amount equal to the Deficiency Shortfall for the Certificates with respect to such Regular Distribution Date. Upon receipt, the Pass Through Trustee shall direct the payment of the amount in the Certificate Account to the holders of the Certificates in payment of the Deficiency Shortfall therefor.

Proceeds Deficiency Drawing. If at any time after the Acceleration of the Securities, there is a sale or other disposition of an ACS Group Aircraft (not including any ACS Group Aircraft acquired by way of contribution) or of an ACS Group Subsidiary that owns an ACS Group Aircraft (not including any ACS Group Aircraft acquired by way of contribution) by, on behalf of or at the direction of the Controlling Party, and there is a Deficiency Shortfall resulting therefrom (calculated as provided in Section 3.06(i)(ii)), the Cash Manager shall, prior to 12:00 p.m. (New York City time) on the third Business Day prior to the next succeeding Regular Distribution Date, instruct the Drawing Agent to request and the Drawing Agent, no later than 12:00 p.m. (New York City time) on the second Business Day prior to such Regular Distribution Date, shall request a Policy Drawing (each a "“Deficiency Drawing"”) under the Policy in an amount equal to the Deficiency Shortfall (for payment into the Certificate Account) with respect to such Regular Distribution Date. Any request received after 12:00 p.m. (New York City time) on any Business Day or any day that is not a Business Day shall be deemed to have been received by the Policy Provider on the next Business Day. Upon receipt of any such request, the Policy Provider or its fiscal agent shall, no later than 12:00 p.m. (New York City time) on the later of (i) the applicable Regular Distribution Date and (ii) the second Business Day following the Business Day on which the Policy Provider received the Drawing Agent's ’s request referred to above, pay under the Policy, in respect of the Certificates, an amount equal to the Deficiency Shortfall for the Certificates with respect to such Regular Distribution Date. Upon receipt, the Pass Through Trustee shall direct the payment of the amount in the Certificate Account to the holders of the Certificates in payment of the Deficiency Shortfall therefor.

Proceeds Deficiency Drawing. If at any time after the an Acceleration of the SecuritiesNotes, there is a sale or other disposition of an ACS Group Aircraft (not including any ACS Group Aircraft acquired by way of contribution) or of an ACS Group Issuer Subsidiary that owns an ACS Group Aircraft (not including any ACS Group Aircraft acquired by way of contribution) ), in each case, by, on behalf of or at the direction of the Controlling Party, and there is a Deficiency Class G Shortfall resulting therefrom (calculated as provided in Section 3.06(i)(ii3.07(h)(ii)), the Cash Manager shall, prior to 12:00 p.m. (New York City time) on the third Business Day prior to the next succeeding Regular Distribution DatePayment Date (other than the Final Maturity Date of the Class G1 Notes and the date of the Final Policy Election), instruct the Drawing Agent Trustee to request and the Drawing AgentTrustee, no later than 12:00 p.m. (New York City time) on the second Business Day prior to such Regular Distribution Payment Date, shall request a Policy Drawing (each each, a "“Deficiency Drawing"”) under the Policy in respect of the Class G-1 Notes in an amount equal to the Deficiency Class G Shortfall with respect to such Payment Date (for payment into the Certificate related Note Account) with respect to on such Regular Distribution Payment Date. Any request received after 12:00 p.m. (New York City time) on any Business Day or on any day that is not a Business Day shall be deemed to have been received by the Policy Provider on the next Business Day. Upon receipt of any such request, the Policy Provider or its fiscal agent shall, no later than 12:00 p.m. (New York City time) on the later of (i) the applicable Regular Distribution Payment Date and (ii) the second Business Day following the Business Day on which the Policy Provider received the Drawing Agent's Trustee’s request referred to above, pay under the Policy, in respect of the Certificates, Policy an amount equal to the Deficiency Class G Shortfall for the Certificates Class G-1 Notes with respect to such Regular Distribution Payment Date. Upon receipt, the Pass Through Trustee shall direct the payment of the amount in the Certificate applicable Note Account to the holders of the Certificates Class G-1 Notes in payment of the Deficiency Class G Shortfall therefor.