Final Advance. If (a) both (i) a Triggering Event shall have occurred and be continuing and (ii) a Performing Note Deficiency exists or (b) a Liquidity Event of Default shall have occurred and be continuing, the Liquidity Provider may, in its discretion, make a Final Advance whereupon (i) the Liquidity Provider shall have no further obligation to make Advances hereunder, (ii) all other outstanding Advances shall be automatically converted into Final Advances for purposes of determining the Applicable Liquidity Rate for interest payable thereon, and (iii) subject to Sections 2.7 and 2.9, all Advances, any accrued interest thereon and any other amounts outstanding hereunder shall become immediately due and payable to the Liquidity Provider.
Appears in 12 contracts
Sources: Irrevocable Revolving Credit Agreement (America West Airlines Inc), Irrevocable Revolving Credit Agreement (America West Airlines Inc), Irrevocable Revolving Credit Agreement (Midway Airlines Corp)
Final Advance. If (a) both (ia)(i) a Triggering Event shall have occurred and be continuing and (ii) there is a Performing Note Deficiency exists or (b) a Liquidity Event of Default shall have occurred and be continuing, the Liquidity Provider may, in its sole discretion, make a Final Advance whereupon (i) the Liquidity Provider shall have no further obligation to make Advances hereunder, (ii) all other outstanding Advances shall be automatically converted into Final Advances for purposes of determining the Applicable Liquidity Rate for interest payable thereon, and (iii) subject to Sections 2.7 and 2.9, all Advances, any accrued interest thereon and any all other amounts outstanding hereunder shall become immediately due and payable to the Liquidity Provider.
Appears in 3 contracts
Sources: Irrevocable Revolving Credit Agreement (Northwest Airlines Corp), Irrevocable Revolving Credit Agreement (Northwest Airlines Corp), Irrevocable Revolving Credit Agreement (Northwest Airlines Corp)
Final Advance. If (a) both (i) a Triggering Event shall have occurred and be continuing and (ii) a Performing Note Deficiency exists or (b) a Liquidity Event of Default shall have occurred and be continuing, the Liquidity Provider may, in its discretion, make a Final Advance whereupon (i) the Liquidity Provider shall have no further obligation to make Advances hereunder, (ii) all other outstanding Advances shall be automatically converted into Final Advances for purposes of determining the Applicable Liquidity Rate for interest payable thereon, and (iii) subject to Sections 2.7 2.07 and 2.92.09, all Advances, any accrued interest thereon and any other amounts outstanding hereunder shall become immediately due and payable to the Liquidity Provider.
Appears in 2 contracts
Sources: Irrevocable Revolving Credit Agreement (Federal Express Corp), Irrevocable Revolving Credit Agreement (Federal Express Corp)