Common use of Representations and Warranties Accurate; No Event of Default; No Adverse Change Clause in Contracts

Representations and Warranties Accurate; No Event of Default; No Adverse Change. On the Delivery Date, (A) the representations and warranties of Lessee contained in Section 7 hereof and in the Tax Indemnity Agreement shall be true and accurate as though made on and as of such date except to the extent that such representations and warranties relate solely to an earlier date (in which case such representations and warranties shall be true and accurate on and as of such earlier date), (B) no event shall have occurred and be continuing, or would result from the purchase, sale, lease or mortgage of the Aircraft, which constitutes (or would, with the passage of time or the giving of notice or both, constitute) a Lease Event of Default or an Indenture Event of Default, and (C) no material adverse change shall have occurred in the consolidated financial condition of Lessee and its subsidiaries from that shown in the consolidated financial statements of Lessee and its subsidiaries as of December 31, 1994.

Representations and Warranties Accurate; No Event of Default; No Adverse Change. On the Delivery Date, (A) the representations and warranties of Lessee contained in Section 7 hereof and in the Tax Indemnity Agreement shall be true and accurate as though made on and as of such date except to the extent that such representations and warranties relate solely to an earlier date (in which case such representations and warranties shall be true and accurate on and as of such earlier date), (B) no event shall have occurred and be continuing, or would result from the purchase, sale, lease or mortgage of the Aircraft, which constitutes (or would, with the passage of time or the giving of notice or both, constitute) a Lease Event of Default or an Indenture Event of Default, and (C) no material adverse change shall have occurred PARTICIPATION AGREEMENT [N397SW] -10- 16 in the consolidated financial condition of Lessee and its subsidiaries from that shown in the consolidated financial statements of Lessee and its subsidiaries as of December 31, 19941993.

Representations and Warranties Accurate; No Event of Default; No Adverse Change. On the Delivery Date, (A) the representations and warranties of Lessee contained in Section 7 hereof and in the Tax Indemnity Agreement shall be true and accurate as though made on and as of such date except to the extent that such representations and warranties relate solely to an earlier date (in which case such representations and warranties shall be true and accurate on and as of such earlier date), (B) no event shall have occurred and be continuing, or would result from the purchase, sale, lease or mortgage of the Aircraft, which constitutes (or would, with the passage of time or the giving of notice or both, constitute) a Lease Event of Default or an Indenture Event of Default, and (C) no material adverse change shall have occurred PARTICIPATION AGREEMENT [N396SW] -10- 16 in the consolidated financial condition of Lessee and its subsidiaries from that shown in the consolidated financial statements of Lessee and its subsidiaries as of December 31, 19941993.

Representations and Warranties Accurate; No Event of Default; No Adverse Change. On the Delivery Date, (A) the representations and warranties of Lessee contained in Section 7 hereof and in the Tax Indemnity Agreement shall be true and accurate as though made on and as of such date except to the extent that such representations and warranties relate solely to an earlier date (in which case such representations and warranties shall be true and accurate on and as of such earlier date), (B) no event shall have occurred and be continuing, or would result from the purchase, sale, lease or mortgage of the Aircraft, which constitutes (or would, with the passage of time or the giving of notice or both, constitute) a Lease Event of Default or an Indenture Event of Default, and (C) no material adverse change shall have occurred in the consolidated financial condition of Lessee and its subsidiaries from that shown in the consolidated financial statements of Lessee and its subsidiaries as of December 31, 19941995.