Certain Cure Rights. In the event of any default by ------------------- the Lessee in the payment when due (after giving effect to any applicable grace period) of any installment of Basic Rent due under any Lease, the Owner Participant (which term shall, except as otherwise expressly provided below, be deemed to include, solely for purposes of this Section 4.03, any holder of a Series B Certificate) may, within two Business Days after such default, without the consent or concurrence of any Certificate TRUST INDENTURE Holder, pay, as provided in Section 2.05, for application in accordance with Section 3.01 a sum equal to the amount of all (but not less than all) such overdue Basic Rent. In the event of any default by the Lessee in any obligation under any Lease other than the payment of Basic Rent, if such default can be remedied by the payment of money and the Owner Participant shall furnish the Owner Trustee with all funds necessary for remedying such default, the Owner Participant may, within five Business Days after the occurrence of such default, without the consent or concurrence of any Certificate Holder, instruct the Owner Trustee to exercise the Owner Trustee's rights under Section 20 of such Lease to perform such obligation on behalf of the Lessee (and the Owner Trustee hereby agrees to accept such instruction and, upon failure to do so, the holders of the Series B Certificates may exercise such right on the Owner Trustee's behalf). Solely for the purpose of determining whether there exists an Indenture Event of Default (a) any timely payment by the Owner Participant pursuant to, and in compliance with, the first sentence of this Section 4.03 shall be deemed to remedy (but solely for purposes of this Indenture) any default by the Lessee in the payment of installments of Basic Rent theretofore due and payable and to remedy (but solely for purposes of this Indenture) any default by the Owner Trustee in the payment of any amount of principal and interest due and payable under the Certificates and (b) any timely performance by the Owner Trustee (or the holders of the Series B Certificates) of any obligation of the Lessee under the relevant Lease pursuant to, and in compliance with, the second sentence of this Section 4.03 shall be deemed to remedy (but solely for purposes of this Indenture) any Lease Event of Default to the same extent that like performance by the Lessee itself would have remedied such Lease Event of Default (but no such remedy shall relieve the Lessee of...
Certain Cure Rights. If an event occurs that would be a Fund Event pursuant to Section 7.01(p)(i) that is quantifiable in Dollars in the reasonable judgment of the Capital Protection Provider, written notice (the “Tax Treatment Notice”) shall be submitted to the Fund by the Capital Protection Provider specifying the basis for such event (including the applicable Law, Change in Law or change in compliance by the Capital Protection Provider or the Guarantor with respect to such event) and a reasonable good faith estimate of the costs to the Capital Protection Provider or the Guarantor associated with such event. If the Fund provides irrevocable written notice (the “Reimbursement Notice”) of its intent to reimburse the Capital Protection Provider or the Guarantor for such costs in the amounts actually incurred on an after-tax basis within 15 Business Days after its receipt of the Tax Treatment Notice, it will reimburse the Capital Protection Provider or the Guarantor (as the case may be) the amount of such costs in the amounts actually incurred on an after-tax basis within 5 Business Days following demand for payment, and such event shall not constitute a Fund Event. In the event that the Fund fails to deliver the Reimbursement Notice within 15 Business Days of its receipt of the Tax Treatment Notice, such event shall be a Fund Event, effective as of the day upon which the Tax Treatment Notice was delivered. The failure of the Fund to pay such costs as provided in this Section 7.04 will be a Fund Event under Section 7.01(i) upon the expiration of the cure period set forth therein.
Certain Cure Rights. Notwithstanding anything to the contrary contained in Section 7.01, in the event that Borrower fails to comply with any Financial Covenant contained in Section 6.09, Holdco shall have the right, no later than 10 days after the delivery of a Notice of Intent to Cure, to issue Permitted Cure Securities for cash or otherwise make cash contribution to the capital of the Borrower in an aggregate amount not in excess of the minimum amount necessary to cure the relevant failure to comply with such Financial Covenant, the net cash proceeds of which shall be contributed to the common equity capital of Borrower (collectively, the “Cure Right”), and upon the receipt by Borrower of such cash (the “Cure Amount”), such Financial Covenant shall be recalculated giving effect to the following pro forma adjustments:
Certain Cure Rights. 61 SECTION 4.04. Remedies.............................................. 63 SECTION 4.05. Return of Aircraft, etc............................... 65 SECTION 4.06. Remedies Cumulative................................... 67 SECTION 4.07.
Certain Cure Rights. (a) Notwithstanding the provisions of Section 9.01 hereof, but without limiting the obligations of the Borrowers under Section 8.10(a) hereof, a breach by the Borrowers as of the last day of any fiscal quarter or any fiscal year of its obligations under said Section 8.10(a) shall not constitute an Event of Default hereunder (except for purposes of Section 6 hereof) until Credit Agreement ---------------- -103- the date (for purposes of this clause (a), the "Cut-Off Date") which is the ------------ earlier of the date thirty days after (a) the date the financial statements for the Borrowers and their Subsidiaries with respect to such fiscal quarter or fiscal year, as the case may be, are delivered pursuant to Section 8.01(a) or 8.01(b) hereof or (b) the latest date on which such financial statements are required to be delivered pursuant to said Section 8.01(a) or 8.01(b), provided -------- that, if following the last day of such fiscal quarter or fiscal year and prior to the Cut-Off Date, the Borrowers shall have received Cure Monies (and shall have applied the proceeds thereof to the prepayment of the Loans hereunder, which prepayment, in the case of Affiliate Subordinated Indebtedness, shall be effected in the manner provided in Section 8.14(a) hereof), or shall have prepaid the Loans hereunder from available cash, in an amount sufficient to bring the Borrowers into compliance with said Section 8.10(a) assuming that the Total Leverage Ratio, as of the last day of such fiscal quarter or fiscal year, as the case may be, were recalculated to subtract such prepayment from the aggregate outstanding amount of Indebtedness, then such breach or breaches shall be deemed to have been cured; provided, further, that breaches of Section 8.10 -------- ------- hereof (including pursuant to paragraph (b) below) may not be deemed to be cured pursuant to this Section 9.02 (x) more than three times during the term of this Agreement or (y) during consecutive fiscal quarters.
Certain Cure Rights. Notwithstanding any provision to the contrary contained in this Agreement or in any other Loan Document, upon written notice provided by the Borrowers to the Agent (the “Notice of Intent to Cure”) on or before the day on which financial statements are required to be delivered pursuant to Section 5.01(a)(iii) or 5.01(a)(iv), as applicable, for the fiscal period to which the Cure Proceeds (as defined below) are to be invested, and so long as no Event of Default (other than in respect of one or both Financial Covenants) shall then exist, the holders (direct or indirect) of the Equity Interests of the Holding Company may cure such violation(s) of the preceding subsections of this Section 5.03 by making a cash common equity investment, directly or indirectly (it being understood that any such investment shall be contributed promptly to the Borrowers), in the Holding Company in an amount equal to the applicable Consolidated EBITDA Shortfall (such investments, “Cure Proceeds”) not later than the date that is fifteen (15) Business Days after the date that the Borrowers are required to deliver the financial statements required by Section 5.01(a)(iii) or 5.01(a)(iv), as applicable, with respect to the fiscal period to which such Financial Covenant violation relates (such date, the “Cure Expiration Date”). Cure Proceeds shall be included in the calculation of Consolidated EBITDA solely for determining compliance with this Section 5.03 for the fiscal quarter to which the cure applies and for the three (3) subsequent fiscal quarters following such cure and shall be disregarded and shall not affect the calculation of Consolidated EBITDA for all other purposes (including the purpose of the calculation of other covenants or for the purpose of the calculation of the Applicable Rate); provided that, (x) no payment of Debt made with Cure Proceeds shall be given effect when determining compliance with this Section 5.03 as of the end of the fiscal quarter (but no other fiscal quarter) with respect to which such cure is made and (y) no Cure Proceeds shall count as cash or cash equivalents for purposes of determining the Consolidated Net Leverage Ratio when determining compliance with this Section 5.03 at any time. The cure rights described in this Section 5.03 (i) may only be exercised four (4) times during the term of this Agreement, (ii) may only be exercised two (2) times with respect to any fiscal year and (iii) may not be exercised with respect to consecutive fiscal quarte...
Certain Cure Rights. (a) A Default under Section 6.01(c)(ii) as of the last day of any fiscal quarter of the Borrower (the "APPLICABLE FQE") may be cured through cash equity or Subordinated Debt contributions not later than the tenth Domestic Business Day following the date on which financial statements for the period ending with the Applicable FQE are delivered (or, if such financial statements are not timely delivered in accordance with Section 5.01, the latest date permitted by Section 5.01 for such delivery). Solely for purposes of determining whether a Default exists under Section 6.01(c)(ii), (i) in respect of fiscal quarters ending FQE 06/03 through FQE 12/06, the amount of such contribution shall be deemed to be additional EBITDA of the Borrower for the fiscal quarter ending on the Applicable FQE and (ii) in respect of fiscal quarters beginning with the fiscal quarter ending FQE 3/07, the related prepayment will be given pro forma effect as if made on the first day of the period of four fiscal quarters ending on the Applicable FQE, but no additional EBITDA will be deemed to arise therefrom. No contribution will be given effect pursuant to this Section in an amount exceeding the amount necessary to avoid a Default under Section 6.01(c)(ii) at the Applicable FQE, it being understood that this Section does not limit the right of the partners to make equity or Subordinated Debt contributions. For avoidance of doubt, to the extent EBITDA of the Borrower is deemed increased for a fiscal quarter ending not later than FQE 12/06 by operation of this Section, such increase will be included in the calculation of EBITDA for any subsequent period of four consecutive fiscal quarters which includes such fiscal quarter.
Certain Cure Rights. (a) Notwithstanding the provisions of Section 9.01 hereof, but without limiting the obligations of the Borrowers under Section 8.10(a) hereof, a breach by the Borrowers as of the last day of any fiscal quarter or any fiscal year of its obligations under said Section 8.10(a) shall not constitute an Event of Default hereunder (except for purposes of Section 6 hereof) until the date (the "Cut-Off Date") which is the earlier of the date thirty days after (a) the date ------------ the financial statements for the Borrowers and their Subsidiaries with respect to such fiscal quarter or fiscal year, as the case may be, are delivered pursuant to Section 8.01(a) or 8.01(b) hereof or (b) the latest date on which such financial statements are required to be delivered pursuant to said Section 8.01(a) or 8.01(b), provided that, if following the last day of such fiscal -------- quarter or fiscal year and prior to the Cut-Off Date, the Borrowers shall have received Cure Monies (and shall have applied the proceeds Credit Agreement ----------------
Certain Cure Rights. Notwithstanding anything to the contrary contained in Section 7.01, in the event that the Borrower fails to comply with any Financial Covenant contained in Section 6.13, the Parent Guarantor shall have the right, no later than 15 Business Days after the delivery of a Notice of Intent to Cure, to issue Permitted Cure Securities to any Equity Investors only for cash in an aggregate amount not in excess of the minimum amount necessary to cure the relevant failure to comply with such Financial Covenant, the net cash proceeds of which shall be contributed to the common equity capital of the Borrower (collectively, the “Cure Right”), and upon the receipt by the Borrower of such cash (the “Cure Amount”), provided such Cure Amount is used to repay Loans under Section 2.05(a) within two Business Days of the issuance of the Permitted Cure Securities with respect thereto, such Financial Covenant shall be recalculated giving effect to the following pro forma adjustments:
Certain Cure Rights. (a) Notwithstanding anything to the contrary contained in Section 8.01, in the event that the Borrowers fail to comply with the Consolidated Fixed Charge Coverage Ratio covenant contained in Section 7.11 as of the end of any fiscal quarter or fiscal year, Holdings, at the sole option of the Borrowers, shall have the right, no later than 10 days after the date the financial statements with respect to such fiscal quarter or fiscal year are required to be delivered to the Administrative Agent pursuant to Section 6.01(a) or (b), to issue Equity Interests not constituting Disqualified Equity Interests in exchange for cash, or obtain other cash common or preferred equity contributions (not constituting Disqualified Equity Interests), in an aggregate amount not in excess of the minimum amount necessary to cure the relevant failure to comply with the Consolidated Fixed Charge Coverage Ratio covenant, the cash proceeds of which shall be contributed by Holdings in cash to the common or preferred equity (not constituting Disqualified Equity Interests) of U.S. Borrower (collectively, the “Cure Right”), and upon the receipt by U.S. Borrower of such cash (the “Cure Amount”), the Consolidated Fixed Charge Coverage Ratio covenant shall be recalculated giving effect to the following pro forma adjustments:
