Delivery of Appraisals. The Parent shall (1) within ten (10) Business Days prior to the last Business Day of March and September of each year, beginning with March 31, 2021 and (2) promptly (but in any event within thirty (30) days) following request by the Administrative Agent (acting at the direction of the Required Lenders) if an Event of Default has occurred and is occurring, deliver to the Administrative Agent one or more Appraisals determining the Appraised Value of the Collateral. In addition, on the date upon which any Additional Collateral is pledged as Collateral to the Collateral Agent for the benefit of the Secured Parties to secure the Obligations, but only with respect to such Additional Collateral, the Parent shall deliver to the Administrative Agent one or more Appraisals determining the Appraised Value of such Additional Collateral.
Delivery of Appraisals. The Borrower shall:
(1) on a date within 60 days prior to (A) March 15 of each year, beginning in 2021, (B) solely with respect to any Pledged Aircraft, Pledged Engines, Pledged Spare Parts and Pledged Ground Support Equipment, September 15 of each year, beginning with the first such date occurring at least 90 days after any such Collateral is first added to the Collateral and (C) solely with respect to any Pledged Spare Parts and Pledged Ground Support Equipment, June 15 and December 15 of each year, beginning with the first such date occurring at least 90 days after any such Collateral is first added to the Collateral;
(2) on the date upon which any Additional Collateral is pledged as Collateral, but only with respect to such Additional Collateral;
(3) promptly (but in any event within 45 days) following a request by the Administrative Agent if an Event of Default has occurred and is continuing; and
(4) promptly (but in any event within 45 days) following any Disposition or series of related Dispositions of Pledged Slots (other than any Disposition described in clause (d), (e)(ii), (e)(iv) or (f) of the definition of “Permitted Disposition”) comprising more than 15% of the aggregate Appraised Value of the Pledged Slots. deliver or cause to be delivered to the Administrative Agent one or more Appraisals establishing the Appraised Value of the Collateral; provided, however, that:
(i) the Borrower shall be required to deliver or cause to be delivered only an Appraisal with respect to the (w) Pledged Slots (in the case of clause (4) above), (x) Pledged Aircraft, Pledged Engines, Pledged Spare Parts and Pledged Ground Support Equipment (in the case of clause 1(B) above), (y) Pledged Spare Parts and Pledged Ground Support Equipment (in the case of clause 1(C) above) or (z) the applicable Additional Collateral (in the case of clause (2) above);
(ii) in connection with the pledging of any Additional Collateral, any Appraisal with respect to such Additional Collateral that is more than 90 days old as of the date on which such Additional Collateral is pledged hereunder shall not be deemed to satisfy the Appraisal requirement in clause (2) above; and
(iii) if any new spare Engine is pledged as Collateral and such new spare Engine is of the same make and model as any spare Engine then currently included (or being replaced) in the Collateral (any such Engine make and model, an “Existing Engine Type”), an Appraisal with respect to such new spare Engine shall only be r...
Delivery of Appraisals. No later than:
(1) commencing with the fiscal year ended December 31, 2024, each of (x) June 30 of each year and (y) a date to be selected by the Borrower from time to time between July 1 and December 31 of each year, but in any event, no earlier than five (5) months after the delivery of the appraisal set forth in clause (x) for such year; and
(2) the 45-day period following a written request by the Administrative Agent if an Event of Default has occurred and is continuing, the Borrower will deliver to the Administrative Agent one or more Appraisals establishing the Appraised Value of the Collateral (other than any cash or Cash Equivalents in the Collateral). For the avoidance of doubt, the Appraised Value of any Qualified Replacement Assets or Additional Collateral (other than any cash or Cash Equivalents) pledged by the Borrower or another Grantor that has not previously been included in an Appraisal shall be deemed to be zero until an Appraisal of such Qualified Replacement Assets or Additional Collateral has been delivered to the Administrative Agent. Subject to the next succeeding sentence, the Borrower shall deliver the Appraisals described above to the Administrative Agent and the Administrative Agent shall make such Appraisals available to the Lenders by posting such information on the confidential, non-public portion of Intralinks website on the Internet at xxxx://xxx.xxxxxxxxxx.xxx and/or on the DebtDomain website on the Internet at xxxx://xxx.xxxxxxxxxx.xxx. Information required to be delivered pursuant to this Section 5.06 by the Borrower shall be delivered pursuant to Section 10.01 and shall be deemed to contain material non-public information.
Delivery of Appraisals. (1) A single time during each calendar year, commencing in 2017, with respect to each category of Collateral; and
(2) within the 45-day period following a request by the Administrative Agent if an Event of Default has occurred and is continuing, the Borrower will deliver to the Administrative Agent one Appraisal establishing the Appraised Value of such Collateral (other than any cash or Cash Equivalents in the Collateral). For the avoidance of doubt, the Appraised Value of any Qualified Replacement Assets or Additional Collateral (other than any cash or Cash Equivalents) pledged by the Borrower or another Grantor that has not previously been included in an Appraisal shall be deemed to be zero until an Appraisal of such Qualified Replacement Assets or Additional Collateral has been delivered to the Administrative Agent. Subject to the next succeeding sentence, the Borrower shall deliver the Appraisals described above to the Administrative Agent and the Administrative Agent shall make such Appraisals available to the Lenders by posting such information on the confidential, non-public portion of the SyndTrak website on the Internet at xxxx://xxx.xxxxxxxx.xxx. Information required to be delivered pursuant to this Section 5.06 by the Borrower shall be delivered pursuant to Section 10.01 and shall be deemed to contain material non-public information.
Delivery of Appraisals. The Borrower shall:
(1) Within twenty (20) Business Days of March 31st and September 30th of each year, beginning with September 30, 2021;
(2) on the date upon which any Cure Collateral is pledged as Collateral to the Collateral Trustee, but only with respect to such Cure Collateral; and
(3) promptly (but in any event within 45 days) following a request by the Administrative Agent if an Event of Default has occurred and is continuing; deliver to the Administrative Agent and the Collateral Trustee one or more Appraisals establishing the Appraised Value of the Collateral; provided, however, that, in the case of clause (2) above, only an Appraisal with respect to the Cure Collateral shall be required to be delivered. The Borrower may from time to time cause subsequent Appraisals to be delivered to the Administrative Agent and the Collateral Trustee if it believes that any affected item of Collateral has a higher Appraised Value than that reflected in the most recent Appraisals delivered pursuant to this Section 5.07.
Delivery of Appraisals. (a) No later than:
(1) each of (x) June 30 of each year commencing June 30, 2024 and (y) a date to be selected by the Company from time to time between July 1 and December 31 of each year, but in any event no earlier than five months after the delivery of the Appraisals pursuant to clause (x) for such year; and
(2) the 45 day period following a request by the Trustee or the Collateral Trustee if an Event of Default has occurred and is continuing, the Company shall deliver to the Trustee and the Collateral Trustee one or more Appraisals establishing the Appraised Value of the Collateral (other than with respect to cash or Cash Equivalents).
(b) Within 10 business days after any Appraisal is delivered to the Trustee and Collateral Trustee pursuant to this Section 4.13, the Company shall (i) make copies of these Appraisals available on a private, restricted website to which noteholders, prospective investors, broker-dealers and securities analysts are given access, and (ii) make a summary of the aggregate appraised value set forth therein publicly available (unless, in the case of this clause (ii), the Company determines in its sole discretion that such information is not material with respect to the business and operations of the Parent and its subsidiaries, taken as a whole, in which case the Company may, but will not be required to, make such summary publicly available). For avoidance of doubt, the Company may (but shall not be required to) deliver Appraisals to the Trustee and the Collateral Trustee on additional dates with greater frequency than is required pursuant to the provisions above.
(c) For the avoidance of doubt, the Appraised Value of any Additional Collateral (other than any cash or Cash Equivalents) pledged by the Company or a Guarantor that has not previously been included in an Appraisal shall be deemed to be zero until an Appraisal of such Additional Collateral has been delivered to the Trustee and the Collateral Trustee.
(d) For the avoidance of doubt, the Company’s failure to deliver any Appraisal required by clause (a)(1) or (a)(2) above will be deemed to constitute an Event of Default for purposes of clause (3) under Section 6.01 hereof upon the expiration of the 60-day grace period as set forth in such Section (unless earlier cured).
Delivery of Appraisals. On:
(1) the date that is no later than 30 days prior to each six-month anniversary of the date of this Indenture;
(2) the date upon which any Qualified Replacement Assets or Cure Collateral is pledged as Collateral to the Collateral Trustee to secure Secured Debt Obligations, but only with respect to such Qualified Replacement Assets or Cure Collateral; and
(3) promptly (but in any event within 30 days) following a request by the Trustee or the Collateral Trustee if an Event of Default has occurred and is continuing, the Company will deliver to the Trustee and the Collateral Trustee one or more Appraisals establishing the Appraised Value of the Collateral. The Company will make copies of these Appraisals available on a private, restricted website to which the Trustee, Holders of Notes, prospective investors, broker-dealers and securities analysts are given access, subject to such individuals agreeing to confidentiality obligations reasonably acceptable to the Company for securities law purposes. In addition to clauses (1) through (3) above, the Company will deliver to the Trustee and the Collateral Trustee a copy of any Appraisal that is delivered to any other Secured Debt Representative or other holder of Secured Debt Obligations, but has not been or is not being delivered to the Trustee in accordance with clauses (1) through (3) above, within 10 Business Days of the date on which such Appraisal was given to such other Secured Debt Representative or holder of Secured Debt Obligations.
Delivery of Appraisals. (a) A single time during each calendar year, commencing in 2021, with respect to each category of Collateral; and
(b) Within the 45-day period following a request by the Controlling Party if an Event of Default has occurred and is continuing, the Company will deliver to the Trustee and the Collateral Agent one or more Appraisals establishing the Appraised Value of the Collateral (other than with respect to cash or Cash Equivalents in the Collateral) which, for avoidance of doubt, shall not be required to include an Appraisal of Gate Leaseholds. The Company will make copies of these Appraisals available on a private, restricted website to which noteholders, prospective investors, broker-dealers and securities analysts are given access. For avoidance of doubt, the Company may (but shall not be required to) deliver Appraisals to the Trustee and the Collateral Agent on additional dates with greater frequency than is required pursuant to the provisions above.
(c) For avoidance of doubt, the Appraised Value of any Additional Collateral (other than any cash or Cash Equivalents) pledged by the Company or another Grantor that has not previously been included in an Appraisal shall be deemed to be zero until an Appraisal of such Additional Collateral has been delivered to the Trustee and the Collateral Agent.
(d) For avoidance of doubt, the Company’s failure to deliver any Appraisal required by clauses (a) or (b) above will be deemed to constitute an Event of Default for purposes of clause (4) under Section 6.01 hereof upon expiration of the applicable grace period.
Delivery of Appraisals. The Borrower shall:
(1) within ten (10) Business Days of September 9, 2020;
(2) on the date upon which any Additional Collateral is pledged as Collateral to the Administrative Agent to secure the Obligations, but only with respect to such Additional Collateral; and
(3) promptly (but in any event within 45 days) following a request by the Administrative Agent if an Event of Default has occurred and is continuing; deliver to the Administrative Agent one or more Appraisals establishing the Appraised Value of the Collateral; provided, however, that in the case of clause (2) above, only an Appraisal with respect to the Additional Collateral shall be required to be delivered. The Borrower may from time to time cause subsequent Appraisals to be delivered to the Administrative Agent if it believes that any affected item of Collateral has a higher Appraised Value than that reflected in the most recent Appraisals delivered pursuant to this Section 5.07. UAL Term Loan Credit Agreement 2020
Delivery of Appraisals. The Parent shall (1) (x) with respect to Eligible Collateral other than Eligible Collateral constituting Qualified Receivables, within ten (10) Business Days prior to the last Business Day of March and September of each year, beginning with March 31, 2021, deliver to the Administrative Agent one or more Appraisals and (y) with respect to Eligible Collateral constituting Qualified Receivables, within ten (10) Business Days prior to the last Business Day of March, June, September and December of each year, beginning with December 31, 2020, deliver to the Administrative Agent one or more Valuation Certificates and (2) promptly (but in any event within thirty (30) days) following request by the Administrative Agent (acting at the direction of the Required Lenders) if an Event of Default has occurred and is occurring, deliver to the Administrative Agent one or more Appraisals, in each case of clauses (1) and (2) above, determining the Appraised Value of the relevant Collateral. In addition, on the date upon which any Additional Collateral is pledged as Collateral to the Collateral Agent for the benefit of the Secured Parties to secure the Obligations, but only with respect to such Additional Collateral, the Parent shall deliver to the Administrative Agent one or more Appraisals or Valuation Certificates, as applicable, determining the Appraised Value of such Additional Collateral.
