Limitations on Certain Compensation. (a) Beginning on the Closing Date, and ending on the date that is one (1) year after the date on which the Loans are no longer outstanding, each Borrower Eligible Business and its Affiliates shall not pay any of each Borrower Eligible Business’s Corporate Officers or Employees whose Total Compensation exceeded $425,000 in calendar year 2019 or the Subsequent Reference Period (other than an Employee whose compensation is determined through an existing collective bargaining agreement entered into before March 1, 2020):
Appears in 12 contracts
Samples: Loan and Guarantee Agreement (Sun Country Airlines Holdings, Inc.), Loan and Guarantee Agreement (Mesa Air Group Inc), Loan and Guarantee Agreement
Limitations on Certain Compensation. (a) a. Beginning on the Closing Date, and ending on the date that is one (1) year after the date on which the Loans are Loan is no longer outstanding, each Borrower Eligible Business and its Affiliates shall not pay any of each Borrower Eligible Business’s Corporate Officers or Employees whose Total Compensation exceeded $425,000 in calendar year 2019 or the Subsequent Reference Period (other than an Employee whose compensation is determined through an existing collective bargaining agreement entered into before March 1, 2020):
Appears in 8 contracts
Samples: Loan and Guarantee Agreement, Loan and Guarantee Agreement, Loan and Guarantee Agreement
