Contingent Payment Events. Within three (3) Business Days of the receipt by the Parent or any of its Subsidiaries of any Net Proceeds from a Contingent Payment Event under a Loyalty Program Agreement, which Net Proceeds, together with the aggregate amount of Net Proceeds previously received from Contingent Payment Events, are in excess of $5,000,000, the Borrower shall prepay the Loans in an amount equal to 100% of such Net Proceeds.
Appears in 15 contracts
Samples: Loan and Guarantee Agreement (Jetblue Airways Corp), Loan and Guarantee Agreement (Frontier Group Holdings, Inc.), Loan and Guarantee Agreement (American Airlines, Inc.)
Contingent Payment Events. Within three (3) Business Days of the receipt by the Parent or any of its Subsidiaries of any Net Proceeds from a Contingent Payment Event under a Loyalty Program Agreement, which Net Proceeds, together with the aggregate amount of Net Proceeds previously received from Contingent Payment Events, are in excess of $5,000,000, 5,000,000 the Borrower shall prepay the Loans in an amount equal to 100% of such Net Proceeds.
Appears in 2 contracts
Samples: Loan and Guarantee Agreement (Sun Country Airlines Holdings, Inc.), Loan and Guarantee Agreement
