Cure Collateral definition

Cure Collateral means (a) cash and Permitted Investments contemplated by clauses (2) and (14) of the definition thereof, pledged to the Collateral Trustee (and subject to an account control agreement in form and substance reasonably satisfactory to the Collateral Trustee) and (b) additional Routes, Slots, Gates Leaseholds, ground support equipment, airframes, engines, spare parts, Real Property Assets, flight simulators, QEC Kits or other assets of the Company designated as “Cure Collateral” in an Officers’ Certificate delivered by the Company to the Collateral Trustee and pledged on a Secured Debt Lien basis to the Collateral Trustee pursuant to arrangements reasonably satisfactory to the Collateral Trustee.

Cure Collateral shall have the meaning given to such term in the Collateral Trust Agreement; provided that (a) any Account of the Borrower or any Grantor pledged as Cure Collateral shall be an Eligible Account, (b) FAA Slots of the Borrower or any Grantor pledged as Cure Collateral shall be at an Eligible Airport, (c) Ground Support Equipment, Real Property Assets, QEC Kits, Tooling, Flight Simulators (each defined term in this clause (c) as defined in the Collateral Trust Agreement) and material intellectual property pledged as Cure Collateral shall be reasonably acceptable to the Administrative Agent, and (d) any Cure Collateral shall be subject only to Permitted Liens (excluding, at the time such assets become subject to such Lien, those referred to in clauses (5) and (11) of the definition of “Permitted Lien”).

Cure Collateral means (a) cash collateral pledged to the Collateral Agents (and held in a segregated account over which the Collateral Agents have sole and exclusive control), (b) the Ground Support Equipment (to the extent landlord lien waivers have been delivered to the Collateral Agents as required by Section 4.04(b) of the Security Agreement), (c) the Primary Slots, (d) the Eligible Accounts Receivable or (e) other assets of the Borrower or any Guarantor which shall be reasonably satisfactory to the Required Lenders, and all of which Ground Support Equipment, Primary Slots, Eligible Accounts Receivable or other assets shall (i) be valued by a new Appraisal Report or Field Audit, as the case may be, at the time the Borrower designates such assets as Eligible Collateral and (ii) be subject to a perfected first priority lien and/or mortgage (or comparable lien) in favor of the Collateral Agents (subject to junior liens permitted hereunder).

Examples of Cure Collateral in a sentence

• Amounts deposited pursuant to this Section 8.7 are referred to herein as the “Default Cure Collateral Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Default Cure Collateral Reserve Account”.

• In the event Borrower delivers to Lender any cash Debt Service Coverage Cure Collateral in accordance with the terms of this Agreement, Lender shall deposit such cash Debt Service Coverage Cure Collateral into the Debt Service Coverage Cure Reserve Account.

• If the Borrower deposits Cure Collateral to the Administrative Agent pursuant to Section 5.8(c), the Borrower shall cause such Cure Collateral to be deposited in the Collateral Account.

• Amounts deposited pursuant to this Section 8.1 (including the proceeds of any Letter of Credit delivered in accordance with the terms and conditions hereof as Debt Service Coverage Cure Collateral) are referred to herein as the “Debt Service Coverage Cure Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Debt Service Coverage Cure Reserve Account”.

• In the event that the Release Date shall not have occurred and there is an Event of Default which relates solely to an Individual Property (and no other Event of Default has occurred and is continuing), Borrower shall have the right to cure such Event of Default by paying to Lender an amount equal to the Release Price of such Individual Property to which such Event of Default relates for deposit into the Default Cure Collateral Reserve Account.

More Definitions of Cure Collateral

Cure Collateral means amounts designated or deemed to have been received by the Borrower and designated as Additional Collateral pursuant to Section 6.06(b).

Cure Collateral means Unrestricted Cash that is deposited in the Collateral Account pursuant to Section 5.8(c).

Cure Collateral shall have the meaning set forth in the Collateral Trust Agreement.

Cure Collateral means Additional Collateral provided pursuant to Section 4.14(b) in order to comply with Section 4.14.

Cure Collateral means (a) cash collateral and Qualified Permitted Investments pledged to the Collateral Agent (and held in segregated accounts at the Administrative Agent subject to Full Control Deposit Account Agreements and/or Full Control Securities Account Agreements, as the case may be), (b) amounts deemed to have been received by the Borrower and designated as Cure Collateral pursuant to Section 6.06(c) and (c) other assets (including aircraft, airframes, engines, spare parts, Group Support Equipment and Flight Simulators) of the Borrower or any Guarantor which shall be reasonably satisfactory to the Collateral Agent, and all of which assets shall (i) (other than Cure Collateral of the type described in clause (a) and (b) above) be valued by a new Appraisal Report or Field Audit, as the case may be, at the time the Borrower designates such assets as Cure Collateral and (ii) be subject to a perfected first priority (subject to Specified Permitted Collateral Liens) Lien and/or mortgage (or comparable Lien) in favor of the Collateral Agent and otherwise subject only to Permitted Collateral Liens.

Cure Collateral means (a) cash collateral and Qualified Permitted Investments pledged to the Collateral Agent (and held in segregated accounts at the Administrative Agent or the First Lien Administrative Agent subject to Full Control Deposit Account Agreements and/or Full Control Securities Account Agreements, as the case may be), (b) amounts deemed to have been received by the Borrower and designated as Cure Collateral pursuant to Section 6.06(b) and (c) other assets (including aircraft, airframes, engines, spare parts, Group Support Equipment and Flight Simulators) of the Borrower or any Guarantor which shall be reasonably satisfactory to the Collateral Agent, and all of which assets shall (i) (other than Cure Collateral of the type described in clause (a) and (b) above) be valued by a new Appraisal Report or Field Audit, as the case may be, at the time the Borrower designates such assets as Cure Collateral and (ii) be subject to a perfected second priority (subject to Specified Permitted Collateral Liens) Lien and/or mortgage (or comparable Lien) in favor of the Collateral Agent and otherwise subject only to Permitted Collateral Liens.

Cure Collateral has the meaning set forth in Section 4.2(f)(ix).