Common use of Reports, Etc Clause in Contracts

Reports, Etc. On or before the Closing Date and annually following renewal of Debtors’ insurance coverage, and upon delivery of Aircraft Collateral under an Eligible Lease, Debtors will furnish to Collateral Agent a certificate of insurance evidencing the insurance coverage required by this Agreement and a broker letter signed by a firm of independent aircraft insurance brokers appointed by Debtors (or the lessee under an Eligible Lease). Debtors will cause such firm (and require the lessee under any Eligible Lease) to notify Collateral Agent and Administrative Agent, as promptly as practicable after such firm acquires knowledge of any notice of cancellation or material change in the insurance carried and maintained on the Aircraft and if such broker ceases to be the insurance broker to Debtors (or to the applicable lessee under the Eligible Lease). In the event that Debtors (or the lessee under any Eligible Lease) shall fail to maintain or to cause to be maintained insurance as herein provided, Collateral Agent (acting at the written direction of the Required Lenders), may at its option obtain such insurance (giving Debtors prompt written notice thereof) and, in such event, Debtors shall, upon demand, reimburse Collateral Agent, for the cost to Collateral Agent of such insurance, together with interest thereon at the rate specified in Section 2.07 of the Credit Agreement commencing with the date such cost was paid to the date of reimbursement. Notwithstanding anything to the contrary herein, insurance certificates providing the coverage and provisions indicated above shall be provided by Debtors to Collateral Agent; provided, however, Debtors shall be entitled to maintain insurance in respect of the Aircraft for the purposes of this Agreement which incorporates the terms and conditions of AVN.67B into such insurance. To the extent that any provision of AVN.67B conflicts or is otherwise inconsistent with the requirements of this Agreement relating to insurance coverage and evidence thereof, then (so long as it shall be general industry practice to insure aircraft that are financed or leased on the basis of such endorsement) such conflicting or inconsistent provisions of AVN.67B shall prevail and such endorsement shall be deemed to satisfy the requirements of this Agreement. In no event shall Collateral Agent have any responsibility to determine or monitor whether the Debtors’ insurance coverage (or the insurance coverage under an Eligible Lease) complies with the terms and conditions of this Section 2.08, such responsibility being the sole obligation of the Debtors.

Reports, Etc. On or before the Closing Date and annually following renewal of DebtorsGrantors’ insurance coverage, and upon delivery of Aircraft Collateral under an Eligible Lease, Debtors Grantors will furnish to Collateral Agent a certificate of insurance evidencing the insurance coverage required by this Agreement and a broker letter report signed by a firm of independent aircraft insurance brokers appointed by Debtors Grantors (or which brokers may be in the lessee under an Eligible Leaseregular employ of Grantors), stating the opinion of such firm that the insurance then carried and maintained on each Airframe, Engine and Spare Engine and the Pledged Spare Parts complies with the terms hereof and that the portion of such insurance that is commercial insurance provides coverages that are in substantially similar form, are of such types, and have limits within the range of limits as are customarily carried by similarly-situated U.S. carriers operating similar routes, and including a confirmation that the commercial insurance has been placed with insurers and identification of the primary claims lead. Debtors All information contained in such report shall be treated by Collateral Agent and each Lender and each of their affiliates, members and officers, directors, agents and employees in accordance with the confidentiality provisions of Section 10.03 of the Credit Agreement. Grantors will cause such firm (and require the lessee under any Eligible Lease) to notify Collateral Agent and Administrative Agenteach Lender of any act or omission on the part of a Grantor of which such firm has knowledge that might invalidate or render unenforceable, in whole or in part, any insurance on any Airframe, Engine or Spare Engine. Grantors will also cause such firm to notify Collateral Agent and each Lender as promptly as practicable after such firm acquires knowledge that an interruption of any notice of cancellation or material change in the insurance carried and maintained on the any Aircraft and if such broker ceases pursuant to be the insurance broker provisions of this Mortgage will occur. Such information may only be provided to Debtors (or to other Persons in accordance with the applicable lessee under the Eligible Lease). In the event that Debtors (or the lessee under any Eligible Lease) shall fail to maintain or to cause to be maintained insurance as herein provided, Collateral Agent (acting at the written direction confidentiality provisions of Section 10.03 of the Required Lenders), may at its option obtain such insurance (giving Debtors prompt written notice thereof) and, in such event, Debtors shall, upon demand, reimburse Credit Agreement. Upon request from Collateral Agent, for the cost to Grantors will provide Collateral Agent with copies of such insurance, together any certificates evidencing renewal of any insurance policies with interest thereon at respect to the rate specified in Section 2.07 Aircraft maintained by Grantors with any agency or regulatory body of the Credit Agreement commencing with the date such cost was paid to the date of reimbursement. Notwithstanding anything to the contrary herein, insurance certificates providing the coverage and provisions indicated above shall be provided by Debtors to Collateral Agent; provided, however, Debtors shall be entitled to maintain insurance in respect of the Aircraft for the purposes of this Agreement which incorporates the terms and conditions of AVN.67B into such insurance. To the extent that any provision of AVN.67B conflicts or is otherwise inconsistent with the requirements of this Agreement relating to insurance coverage and evidence thereof, then (so long as it shall be general industry practice to insure aircraft that are financed or leased on the basis of such endorsement) such conflicting or inconsistent provisions of AVN.67B shall prevail and such endorsement shall be deemed to satisfy the requirements of this Agreement. In no event shall Collateral Agent have any responsibility to determine or monitor whether the Debtors’ insurance coverage (or the insurance coverage under an Eligible Lease) complies with the terms and conditions of this Section 2.08, such responsibility being the sole obligation of the DebtorsUnited States government.

Reports, Etc. On or before the Closing Date and annually following renewal of Debtors’ Grantors' insurance coverage, and upon delivery of Aircraft Collateral under an Eligible Lease, Debtors Grantors will furnish to Collateral the Administrative Agent a certificate of insurance evidencing the insurance coverage required by this Agreement and a broker letter report signed by a firm of independent aircraft insurance brokers appointed by Debtors Grantors (or which brokers may be in the lessee under an Eligible Leaseregular employ of Grantors), stating the opinion of such firm that the insurance then carried and maintained on each Airframe, Engine and Spare Engine and the Pledged Spare Parts complies with the terms hereof and that the portion of such insurance that is commercial insurance provides coverages that are in substantially similar form, are of such types, and have limits within the range of limits as are customarily carried by similarly-situated U.S. carriers operating similar routes, and including a confirmation that the commercial insurance has been placed with insurers and identification of the primary claims lead. Debtors All information contained in such report shall be treated by the Administrative Agent and each Lender and each of their affiliates, members and officers, directors, agents and employees in accordance with the confidentiality provisions of Section 10.03 of the Credit Agreement. Grantors will cause such firm (and require the lessee under any Eligible Lease) to notify Collateral the Administrative Agent and each Lender of any act or omission on the part of a Grantor of which such firm has knowledge that might invalidate or render unenforceable, in whole or in part, any insurance on any Airframe, Engine or Spare Engine. Grantors will also cause such firm to notify the Administrative Agent, Agent and each Lender as promptly as practicable after such firm acquires knowledge that a cancellation of any notice of cancellation or material change in the insurance carried and maintained on the Aircraft and if such broker ceases any Airframe, Engine or Spare Engine pursuant to be the insurance broker provisions of this Mortgage will occur. Such information may only be provided to Debtors (or other Persons in accordance with the confidentiality provisions of Section 10.03 of the Credit Agreement. No less frequently than annually, but in any event prior to expiration of any insurance policy maintained in connection herewith, Grantors will provide the Administrative Agent with copies of any certificates evidencing renewal of any such insurance policies, which certificates evidence compliance by Grantors with the insurance requirements set forth herein and contain signatures of duly authorized representatives of Grantors' independent aircraft insurance brokers as may be reasonably acceptable to the applicable lessee under the Eligible Lease)Administrative Agent. In the event that Debtors (or the lessee under any Eligible Lease) Grantors shall fail to maintain or to cause to be maintained insurance as herein provided, Collateral the Administrative Agent (acting at the written direction of the Required Lenders), may at its option obtain such insurance (giving Debtors Grantors prompt written notice thereof) and, in such event, Debtors Grantors shall, upon demand, reimburse Collateral Agent, the Administrative Agent for the cost to Collateral the Administrative Agent of such insurance, together with interest thereon at the rate specified default interest rate, as set forth in Section 2.07 2.08 of the Credit Agreement Agreement, for the period commencing with the date such cost was paid to the date of reimbursement. Notwithstanding anything to the contrary herein, insurance certificates providing the coverage and provisions indicated above shall be provided by Debtors to Collateral Agent; provided, however, Debtors shall be entitled to maintain insurance in respect of the Aircraft for the purposes of this Agreement which incorporates the terms and conditions of AVN.67B into such insurance. To the extent that any provision of AVN.67B conflicts or is otherwise inconsistent with the requirements of this Agreement relating to insurance coverage and evidence thereof, then (so long as it shall be general industry practice to insure aircraft that are financed or leased on the basis of such endorsement) such conflicting or inconsistent provisions of AVN.67B shall prevail and such endorsement shall be deemed to satisfy the requirements of this Agreement. In no event shall Collateral Agent have any responsibility to determine or monitor whether the Debtors’ insurance coverage (or the insurance coverage under an Eligible Lease) complies with the terms and conditions of this Section 2.08, such responsibility being the sole obligation of the Debtors.

Reports, Etc. On The Grantor will furnish, or cause to be furnished, to the Collateral Agent on or before the Closing Date Date, and annually following each annual renewal of Debtors’ the applicable insurances, a report, signed by AON Risk Services of Illinois, Inc. or any other independent firm of insurance coverage, and upon delivery of Aircraft Collateral under an Eligible Lease, Debtors will furnish brokers reasonably acceptable to the Collateral Agent a certificate which brokers may be in the regular employ of the Grantor (the "Insurance Brokers"), describing in reasonable detail the hull and liability insurance evidencing (and property insurance for detached engines and parts) then carried and maintained with respect to each Aircraft, Engine and Spare Engine and stating the opinion of such firm that (i) such insurance coverage complies with the terms hereof, (ii) all premiums in connection with such insurance then due have been paid and (iii) such insurance provides coverages against risks that are customarily insured against by major U.S. air carriers and that such coverages are in substantially similar forms, are of such types and have limits as are customarily carried by major U.S. air carriers (but in no event less than what is required under the Credit Agreement with respect thereto); provided that all information contained in the foregoing report shall not be made available by the Collateral Agent to anyone except (A) to any Lender's or to prospective and permitted transferees of the Collateral Agent's or any Lender's interest or its respective counsel, independent certified public accountants, independent insurance brokers or other agents, who agree to hold such information confidential, (B) to the Collateral Agent's or any Lender's counsel or independent certified public accountants, independent insurance brokers or other agents who agree to hold such information confidential, (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation or (D) as may be necessary for purposes of protecting the interest of any such Person or for enforcement of this Agreement Mortgage by the Collateral Agent; provided, further, that any and a broker letter signed all disclosures permitted by a firm clause (C) above shall be made only to the extent necessary to meet the specific requirements or needs of independent aircraft insurance brokers appointed by Debtors (or the lessee under an Eligible Lease)Persons to whom such disclosures are hereby permitted. Debtors The Grantor will cause such firm (and require Insurance Broker to agree to advise the lessee under any Eligible Lease) to notify Collateral Agent and Administrative Agent, as the Lenders promptly as practicable after such firm acquires knowledge in writing of any notice default in the payment of any premium and of any act or omission on the part of the Grantor of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on such Aircraft or Spare Engine and to advise such Persons in writing at least 30 days (20 days in the case of lapse for nonpayment of premiums and 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 2.03; provided that if the notice period specified above is not reasonably obtainable, the Insurance Broker shall provide for as long a period of prior notice as shall then be reasonably obtainable. In addition, the Grantor will also cause such Insurance Broker to deliver to the Collateral Agent and the Lenders, 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 insurance carried and maintained same form as delivered by the Grantor to such parties on the Aircraft and if such broker ceases to be Closing Date except for changes in the insurance broker to Debtors (report or to the applicable lessee under coverage consistent with the Eligible Lease)terms hereof. In the event that Debtors (or the lessee under any Eligible Lease) Grantor shall fail to maintain or to cause to be maintained insurance as herein provided, the Collateral Agent (acting at the written direction of the Required Lenders)or any Lender may, may at its option obtain sole option, but shall be under no duty to, provide such insurance (giving Debtors prompt written notice thereof) and, in such event, Debtors the Grantor shall, upon demand, reimburse the Collateral AgentAgent or such Lender, for the cost thereof to the Collateral Agent of or such insuranceLender, as the case may be, together with interest thereon on such cost at a rate of interest equal to the rate specified Alternate Base Rate (as defined in Section 2.07 of the Credit Agreement commencing with Agreement) plus 5.25% from the date of such cost was paid payment by the Collateral Agent or such Lender to the date of reimbursement. Notwithstanding anything to reimbursement without waiver of any other rights the contrary herein, insurance certificates providing the coverage and provisions indicated above shall be provided by Debtors to Collateral AgentAgent or such Lender may have; provided, however, Debtors that no exercise by the Collateral Agent or such Lender, as the case may be, of said option shall be entitled affect the provisions of this Mortgage, including the provisions that failure by the Grantor to maintain the prescribed insurance in respect shall constitute an Event of the Aircraft for the purposes of this Agreement which incorporates the terms and conditions of AVN.67B into such insurance. To the extent that any provision of AVN.67B conflicts or is otherwise inconsistent with the requirements of this Agreement relating to insurance coverage and evidence thereof, then (so long as it shall be general industry practice to insure aircraft that are financed or leased on the basis of such endorsement) such conflicting or inconsistent provisions of AVN.67B shall prevail and such endorsement shall be deemed to satisfy the requirements of this Agreement. In no event shall Collateral Agent have any responsibility to determine or monitor whether the Debtors’ insurance coverage (or the insurance coverage under an Eligible Lease) complies with the terms and conditions of this Section 2.08, such responsibility being the sole obligation of the DebtorsDefault.

Reports, Etc. On or before the Closing Date and annually following renewal of DebtorsGrantors’ insurance coverage, and upon delivery of Aircraft Collateral under an Eligible Lease, Debtors Grantors will furnish to Collateral the Administrative Agent a certificate of insurance evidencing the insurance coverage required by this Agreement and a broker letter report signed by a firm of independent aircraft insurance brokers appointed by Debtors Grantors (or which brokers may be in the lessee under an Eligible Leaseregular employ of Grantors), stating the opinion of such firm that the commercial hull, spares and liability insurance then carried and maintained on each Airframe, Engine and Spare Engine and the Pledged Spare Parts complies with the terms hereof. Debtors All information contained in such report shall be treated by the Administrative Agent and each Lender and each of their affiliates, members and officers, directors, agents and employees in accordance with the confidentiality provisions of Section 10.03 of the Credit Agreement. Grantors will use commercially reasonable efforts to cause such firm (and require the lessee under any Eligible Lease) to notify Collateral the Administrative Agent and each Lender of any act or omission on the part of a Grantor of which such firm has knowledge that might invalidate or render unenforceable, in whole or in part, any insurance on any Airframe, Engine or Spare Engine. Grantors will use commercially reasonable efforts to also cause such firm to notify the Administrative Agent, Agent and each Lender as promptly as practicable after such firm acquires knowledge that a cancellation of any notice of cancellation or material change in the insurance carried and maintained on any Airframe, Engine or Spare Engine pursuant to this Mortgage will occur. Such information may only be provided to other Persons in accordance with the Aircraft and if such broker ceases to be confidentiality provisions of Section 10.03 of the insurance broker to Debtors (or to the applicable lessee under the Eligible Lease)Credit Agreement. In the event that Debtors (or the lessee under any Eligible Lease) Grantors shall fail to maintain or to cause to be maintained insurance as herein provided, Collateral the Administrative Agent (acting at the written direction of the Required Lenders), may at its option obtain such insurance (giving Debtors Grantors prompt written notice thereof) and, in such event, Debtors Grantors shall, upon demand, reimburse Collateral Agent, the Administrative Agent for the cost to Collateral the Administrative Agent of such insurance, together with interest thereon at the rate specified default interest rate, as set forth in Section 2.07 2.08 of the Credit Agreement Agreement, for the period commencing with the date such cost was paid to the date of reimbursement. Notwithstanding anything to the contrary herein, insurance certificates providing the coverage and provisions indicated above shall be provided by Debtors to Collateral Agent; provided, however, Debtors shall be entitled to maintain insurance in respect of the Aircraft for the purposes of this Agreement which incorporates the terms and conditions of AVN.67B into such insurance. To the extent that any provision of AVN.67B conflicts or is otherwise inconsistent with the requirements of this Agreement relating to insurance coverage and evidence thereof, then (so long as it shall be general industry practice to insure aircraft that are financed or leased on the basis of such endorsement) such conflicting or inconsistent provisions of AVN.67B shall prevail and such endorsement shall be deemed to satisfy the requirements of this Agreement. In no event shall Collateral Agent have any responsibility to determine or monitor whether the Debtors’ insurance coverage (or the insurance coverage under an Eligible Lease) complies with the terms and conditions of this Section 2.08, such responsibility being the sole obligation of the Debtors.

Reports, Etc. On Lessee will furnish, or cause to be furnished, to Lessor and each other Additional Insured on or before the Closing Delivery Date of any Aircraft and annually following on or before the renewal dates of Debtors’ insurance coverage, and upon delivery of Aircraft Collateral under an Eligible Lease, Debtors will furnish to Collateral Agent a certificate of insurance evidencing the insurance coverage required by this Agreement and a broker letter signed by a firm of independent aircraft insurance brokers appointed by Debtors Lessee's (or the lessee under an Eligible Leasesublessee's) relevant insurance policies during the Lease Term, a report, signed by (a) recognized independent firm of insurance brokers, which brokers may be regularly retained by Lessee (the "Insurance Brokers"), describing in reasonable detail the hull and liability insurance (and property insurance for detached engines and Related Engines) then carried and maintained with respect to the Aircraft. Debtors Lessee will cause such firm (Insurance Brokers to agree to advise Lessor and require the lessee under any Eligible Lease) to notify Collateral Agent and Administrative Agent, as promptly as practicable after such firm acquires knowledge each other Additional Insured in writing of any notice default in the payment of premium and to advise Lessor and each other Additional Insured at least thirty (30) days (seven (7) days in the case of any war risk and allied perils coverage) prior to the cancellation or material adverse change of any insurance maintained pursuant to this Section 11, provided that if the notice period specified above is not obtainable, the Insurance Brokers shall provide for as long a period of prior notice as shall then be obtainable. In addition, Lessee will also cause such Insurance Broker to deliver to Lessor and each other Additional Insured 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 the same as delivered by Lessee to such parties on the Delivery Date of the Aircraft to which it relates except for the changes in the insurance carried and maintained on report or the Aircraft and if such broker ceases to be coverage consistent with the insurance broker to Debtors (or to the applicable lessee under the Eligible Lease)terms hereof. In the event that Debtors (or the lessee under any Eligible Lease) Lessee shall fail to maintain or to cause to be maintained insurance as herein provided, Collateral Agent (acting at the written direction of the Required Lenders), Lessor may at its sole option obtain provide such insurance (giving Debtors prompt written notice thereof) and, in such event, Debtors Lessee shall, upon demand, reimburse Collateral Agent, Lessor as Supplemental Rent for the cost to Collateral Agent of such insurance, together with interest thereon at the rate specified in Section 2.07 of the Credit Agreement commencing with the date such cost was paid to the date of reimbursement. Notwithstanding anything to the contrary herein, insurance certificates providing the coverage and provisions indicated above shall be provided by Debtors to Collateral Agent; provided, however, Debtors shall be entitled to maintain insurance in respect of the Aircraft for the purposes of this Agreement which incorporates the terms and conditions of AVN.67B into such insurance. To the extent that any provision of AVN.67B conflicts or is otherwise inconsistent with the requirements of this Agreement relating to insurance coverage and evidence thereof, then (so long as it shall be general industry practice to insure aircraft that are financed or leased on the basis of such endorsement) such conflicting or inconsistent provisions of AVN.67B shall prevail and such endorsement shall be deemed to satisfy the requirements of this Agreement. In no event shall Collateral Agent have any responsibility to determine or monitor whether the Debtors’ insurance coverage (or the insurance coverage under an Eligible Lease) complies with the terms and conditions of this Section 2.08, such responsibility being the sole obligation of the Debtors.