Common use of Reports, Certificates, etc Clause in Contracts

Reports, Certificates, etc. The Company will furnish, or cause to be furnished, to the Collateral Agent on or before the Closing Date, and each annual renewal of the applicable insurances, (i) a report, signed by a recognized independent firm of insurance brokers reasonably acceptable to the Collateral Agent which brokers may be regularly retained by the Company (the "Insurance Brokers"), describing in reasonable detail the property and liability insurance then carried and maintained with respect to the Collateral and stating the opinion of such firm that (A) such insurance complies with the terms hereof, (B) all premiums in connection with such insurance then due have been paid and (C) such insurance together with any self-insurance permitted hereby provides coverages against risks that are customarily insured against by Similar Carriers and that such coverages are in substantially similar forms, are of such types and have limits as are customarily carried by Similar Carriers; and (ii) a certificate of insurance evidencing the due compliance with the terms of this SECTION 2.04 relating to insurance with respect to the Collateral. To the extent that the insurance obligations of this SECTION 2.04 are satisfied in part with the coverage described in SECTION 2.04(F), the Insurance Broker's report and certificate need not certify such coverage but may instead refer to the FAA Certificate of Insurance (which the Insurance Broker shall attach to its report). The Company will cause such Insurance Broker to agree to advise the Collateral Agent in writing of any default in the payment of any premium and of any act or omission on the part of the Company of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the applicable Collateral and to advise the Collateral Agent in writing at least thirty (30) days (twenty (20) days in the case of lapse for nonpayment of premiums and seven (7) days in the case of war risk and allied perils coverage) prior to the cancellation (but not expiration), lapse for non-payment of premium or material adverse change of any insurance maintained pursuant to this SECTION 2.04; provided that if the war risk notice period specified above is not reasonably obtainable, the Company will cause the Insurance Broker to provide for as long a period of prior notice as shall then be reasonably obtainable. In the event that the Company shall fail to maintain or cause to be maintained insurance as herein provided, the Collateral Agent may, at its sole option, but shall be under no duty to, procure such insurance on behalf of the Company and, in such event, the Company shall, upon demand, reimburse the Collateral Agent for the cost thereof to the Collateral Agent, together with interest on such cost at the Overdue Rate from the date of such payment by the Collateral Agent to the date of reimbursement without waiver of any other rights the Collateral Agent may have; provided, however, that no exercise by the Collateral Agent of said option shall affect the provisions of this Security Agreement or the other Loan Documents, including the provisions that failure by the Company to maintain the prescribed insurance shall constitute an Event of Default. Upon receipt of any notices or reports, the Collateral Agent shall as promptly as practicable forward copies of the same to the Agent, the Loan Administrator, the Board and each of the Lenders. The Collateral Agent shall have no responsibility for independently verifying the accuracy or completeness of any information contained in any report or certificate provided by the Insurance Brokers.

Reports, Certificates, etc. The Company North American will furnish, or cause to be furnished, to the Collateral Agent on or before the Closing Datedate hereof, and each Grantor will furnish, or cause to be furnished, to the Collateral Agent on or before each annual renewal of the applicable insurances, (i) a report, signed by a recognized independent firm of insurance brokers reasonably acceptable to the Collateral Agent which brokers may be regularly retained by the Company such Grantor (the "Insurance Brokers"), describing in reasonable detail the property and liability insurance then carried and maintained with respect to the Collateral and stating the opinion of such firm that (A) such insurance complies with the terms hereof, (B) all premiums in connection with such insurance then due have been paid and (C) such insurance together with any self-insurance permitted hereby provides coverages against risks that are customarily insured against by Similar Carriers and that such coverages are in substantially similar forms, are of such types and have limits as are customarily carried by Similar Carriers; and (ii) a certificate of insurance evidencing the due compliance with the terms of this SECTION 2.04 Section 3.04 relating to insurance with respect to the Collateral. To the extent that the insurance obligations of this SECTION 2.04 Section 3.04 are satisfied in part with the coverage described in SECTION 2.04(FSection 3.04(f), the Insurance Broker's report and certificate need not certify such coverage but may instead refer to the FAA Certificate of Insurance (which the Insurance Broker shall attach to its report). The Company Such Grantor will cause such Insurance Broker to agree to advise the Collateral Agent in writing of any default in the payment of any premium and of any act or omission on the part of the Company such Grantor of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the applicable Collateral and to advise the Collateral Agent in writing at least thirty (30) days (twenty (20) days in the case of lapse for nonpayment of premiums and seven (7) days in the case of war risk and allied perils coverage) prior to the cancellation (but not expiration), lapse for non-payment of premium or material adverse change of any insurance maintained pursuant to this SECTION 2.04Section 3.04; provided that if the war risk notice period specified above is not reasonably obtainable, the Company such Grantor will cause the Insurance Broker to provide for as long a period of prior notice as shall then be reasonably obtainable. In the event that the Company such Grantor shall fail to maintain or cause to be maintained insurance as herein provided, the Collateral Agent may, at its sole option, but shall be under no duty to, procure such insurance on behalf of the Company such Grantor (and shall give notice to such Grantor of such event) and, in such event, the Company such Grantor shall, upon demand, reimburse the Collateral Agent for the cost thereof to the Collateral Agent, together with interest on such cost at the Overdue Rate interest rate determined in accordance with Section 2.7(e) of the Loan Agreement from the date of such payment by the Collateral Agent to the date of reimbursement without waiver of any other rights the Collateral Agent may have; provided, however, that no exercise by the Collateral Agent of said option shall affect the provisions of this Security Agreement or the other Loan Documents, including the provisions that failure by the Company such Grantor to maintain the prescribed insurance shall constitute an Event of Default. Upon receipt of any notices or reports, the Collateral Agent shall as promptly as practicable forward copies of the same to the Agent, the Loan Administrator, the Board and each of the Lenders. The Collateral Agent shall have no responsibility for independently verifying the accuracy or completeness of any information contained in any report or certificate provided by the Insurance Brokers.

Reports, Certificates, etc. The Company Such Grantor will furnish, or cause to be furnished, to the Collateral Agent on or before the Closing Effective Date, and each annual renewal of the applicable insurances, (i) a report, signed by a recognized an authorized representative of Aon Risk Services, Inc. or any other independent firm of insurance brokers reasonably acceptable to the Collateral Agent which brokers may be regularly retained by the Company such Grantor (the "“Insurance Brokers"”), describing in reasonable detail the property hull and liability insurance (and property insurance for detached engines, parts and other items) then carried and maintained with respect to the Collateral and stating the opinion of such firm that (A) such insurance complies with the terms hereof, (B) all premiums in connection with such insurance then due have been paid and (C) such insurance together with any self-insurance permitted hereby provides coverages against risks that are customarily insured against by Similar Certificated Air Carriers and that such coverages are in substantially similar forms, are of such types and have limits as are customarily carried by Similar Certificated Air Carriers; and (ii) a certificate of insurance evidencing the due compliance with the terms of this SECTION 2.04 Section 3.4 relating to insurance with respect to the Collateral. To the extent that the insurance obligations of this SECTION 2.04 Section 3.4 are satisfied in part with the coverage described in SECTION 2.04(F[Section 3.4(g)], the Insurance Broker's ’s report and certificate need not certify such coverage but may instead refer to the FAA Certificate of Insurance (which the Insurance Broker shall attach attached to its report). The Company Such Grantor will cause such Insurance Broker to agree to advise the Collateral Agent in writing of any default in the payment of any premium and of any act or omission on the part of the Company such Grantor of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the applicable Collateral and to advise the Collateral Agent in writing at least thirty (30) days (twenty (20) days in the case of lapse for nonpayment of premiums and seven (7) days in the case of war risk and allied perils coverage) prior to the cancellation (but not expiration), lapse for non-payment of premium or material adverse change of any insurance maintained pursuant to this SECTION 2.04Section 3.4; provided that if the war risk notice period specified above is not reasonably obtainable, the Company such Grantor will cause the Insurance Broker to provide for as long a period of prior notice as shall then be reasonably obtainable. In addition, such Grantor will also cause such Insurance Broker to deliver to the Collateral Agent on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by such Grantor to the Collateral Agent on the Effective Date except for changes in the report or the coverage consistent with the terms hereof. In the event that the Company such Grantor shall fail to maintain maintain, or cause to be maintained maintained, insurance as herein provided, the Collateral Agent may, at its sole option, but shall be under no duty to, procure such insurance on behalf of the Company such Grantor and, in such event, the Company such Grantor shall, upon demand, reimburse the Collateral Agent for the cost thereof to the Collateral Agent, together with interest on such cost at the Overdue Rate from the date of such payment by the Collateral Agent to the date of reimbursement without waiver of any other rights the Collateral Agent may have; provided, however, that no exercise by the Collateral Agent of said option shall affect the provisions of this Security Agreement or the other Loan Documents, including the provisions that failure by the Company such Grantor to maintain the prescribed insurance shall constitute an Event of Default. Upon receipt of any notices or reports, the Collateral Agent shall as promptly as practicable forward copies of the same to the Agent, the Loan Administrator, each of the Board Lenders and each of the LendersParticipants. The Collateral Agent shall have no responsibility for independently verifying the accuracy or completeness of any information contained in any report or certificate provided by the Insurance Brokers.

Reports, Certificates, etc. The Company will furnish, or cause to be furnished, to the Collateral Agent on or before the Closing Date, and each annual renewal of the applicable insurances, (i) a report, signed by a recognized an authorized representative of Aon Risk Services, Inc. or any other independent firm of insurance brokers reasonably acceptable to the Collateral Agent which brokers may be regularly retained by the Company (the "Insurance Brokers"), describing in reasonable detail the property hull and liability insurance (and property insurance for detached engines, parts and other items) then carried and maintained with respect to the Collateral and stating the opinion of such firm that (A) such insurance complies with the terms hereof, (B) all premiums in connection with such insurance then due have been paid and (C) such insurance together with any self-insurance permitted hereby provides coverages against risks that are customarily insured against by Similar Certificated Air Carriers and that such coverages are in substantially similar forms, are of such types and have limits as are customarily carried by Similar Certificated Air Carriers; and (ii) a certificate of insurance evidencing the due compliance with the terms of this SECTION Section 2.04 relating to insurance with respect to the Collateral. To the extent that the insurance obligations of this SECTION 2.04 are satisfied in part with the coverage described in SECTION 2.04(F), the Insurance Broker's report and certificate need not certify such coverage but may instead refer to the FAA Certificate of Insurance (which the Insurance Broker shall attach to its report). The Company will cause such Insurance Broker to agree to advise the Collateral Agent in writing of any default in the payment of any premium and of any act or omission on the part of the Company of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the applicable Collateral and to advise the Collateral Agent in writing at least thirty (30) days (twenty (20) days in the case of lapse for nonpayment of premiums and seven (7) days in the case of war risk and allied perils coverage) prior to the cancellation (but not expiration), lapse for non-payment of premium or material adverse change of any insurance maintained pursuant to this SECTION Section 2.04; provided that if the war risk notice period specified above is not reasonably obtainable, the Company will cause the Insurance Broker to provide for as long a period of prior notice as shall then be reasonably obtainable. In addition, the Company will also cause such Insurance Broker to deliver to the Collateral Agent on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by the Company to the Collateral Agent on the Closing Date except for changes in the report or the coverage consistent with the terms hereof. In the event that the Company shall fail to maintain or cause to be maintained insurance as herein provided, the Collateral Agent may, at its sole option, but shall be under no duty to, procure such insurance on behalf of the Company and, in such event, the Company shall, upon demand, reimburse the Collateral Agent for the cost thereof to the Collateral Agent, together with interest on such cost at the Overdue Rate from the date of such payment by the Collateral Agent to the date of reimbursement without waiver of any other rights the Collateral Agent may have; provided, however, that no exercise by the Collateral Agent of said option shall affect the provisions of this Security Agreement or the other Loan Documents, including the provisions that failure by the Company to maintain the prescribed insurance shall constitute an Event of Default. Upon receipt of any notices or reports, the Collateral Agent shall as promptly as practicable forward copies of the same to the Agent, the Loan Administrator, the Board Board, each of the Lenders and each of the LendersParticipants. The Collateral Agent shall have no responsibility for independently verifying the accuracy or completeness of any information contained in any report or certificate provided by the Insurance Brokers.

Reports, Certificates, etc. The Company Such Grantor will furnish, or cause to be furnished, to the Collateral Agent on or before the Closing Date, and each annual renewal of the applicable insurances, (i) a report, signed by a recognized independent firm of insurance brokers reasonably acceptable to the Collateral Agent which brokers may be regularly retained by the Company such Grantor (the "Insurance Brokers"), describing in reasonable detail the property and liability insurance then carried and maintained with respect to the Collateral and stating the opinion of such firm that (A) such insurance complies with the terms hereof, (B) all premiums in connection with such insurance then due have been paid and (C) such insurance together with any self-insurance permitted hereby provides coverages against risks that are customarily insured against by Similar Carriers and that such coverages are in substantially similar forms, are of such types and have limits as are customarily carried by Similar Carriers; and (ii) a certificate of insurance evidencing the due compliance with the terms of this SECTION 2.04 Section 3.04 relating to insurance with respect to the Collateral. To the extent that the insurance obligations of this SECTION 2.04 Section 3.04 are satisfied in part with the coverage described in SECTION 2.04(FSection 3.04(f), the Insurance Broker's report and certificate need not certify such coverage but may instead refer to the FAA Certificate of Insurance (which the Insurance Broker shall attach to its report). The Company Such Grantor will cause such Insurance Broker to agree to advise the Collateral Agent in writing of any default in the payment of any premium and of any act or omission on the part of the Company such Grantor of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the applicable Collateral and to advise the Collateral Agent in writing at least thirty (30) days (twenty (20) days in the case of lapse for nonpayment of premiums and seven (7) days in the case of war risk and allied perils coverage) prior to the cancellation (but not expiration), lapse for non-payment of premium or material adverse change of any insurance maintained pursuant to this SECTION 2.04Section 3.04; provided that if the war risk notice period specified above is not reasonably obtainable, the Company such Grantor will cause the Insurance Broker to provide for as long a period of prior notice as shall then be reasonably obtainable. In the event that the Company such Grantor shall fail to maintain or cause to be maintained insurance as herein provided, the Collateral Agent may, at its sole option, but shall be under no duty to, procure such insurance on behalf of the Company such Grantor (and shall give notice to such Grantor of such event) and, in such event, the Company such Grantor shall, upon demand, reimburse the Collateral Agent for the cost thereof to the Collateral Agent, together with interest on such cost at the Overdue Rate interest rate determined in accordance with Section 2.7(e) of the Loan Agreement from the date of such payment by the Collateral Agent to the date of reimbursement without waiver of any other rights the Collateral Agent may have; provided, however, that no exercise by the Collateral Agent of said option shall affect the provisions of this Security Agreement or the other Loan Documents, including the provisions that failure by the Company such Grantor to maintain the prescribed insurance shall constitute an Event of Default. Upon receipt of any notices or reports, the Collateral Agent shall as promptly as practicable forward copies of the same to the Agent, the Loan Administrator, the Board and each of the Lenders. The Collateral Agent shall have no responsibility for independently verifying the accuracy or completeness of any information contained in any report or certificate provided by the Insurance Brokers.