Delta Airlines 2006 Annual Report Download - page 170

5.16 ERISA/Labor Matters.
Borrower shall furnish the Administrative Agent (with sufficient copies for each of Lenders) each of the following:
(a) promptly and in any event within thirty (30) days of filing or receipt by Borrower, with respect to any Title IV Plan, copies of
the most recent annual reports or returns (IRS Form 5500), audited or unaudited financial statements and actuarial valuations with respect to such Plans;
(b) promptly and in any event within ten (10) days after Borrower, any Subsidiary of Borrower or any ERISA Affiliate knows or
has reason to know that a request for a minimum funding waiver under Section 412 of the Code has been filed with respect to any Title IV Plan or
Multiemployer Plan, a written statement of an officer of Borrower describing such waiver request and the action, if any, Borrower, its Subsidiaries and ERISA
Affiliates propose to take with respect thereto and a copy of any notice filed with the PBGC or the IRS pertaining thereto;
(c) simultaneously with the date that Borrower, any Subsidiary of Borrower or any ERISA Affiliate files a notice of intent to
terminate any Title IV Plan, a copy of each notice;
(d) promptly and in any event within three (3) days after Borrower, any Subsidiary of Borrower or any ERISA Affiliate receives
any adverse communication from a Governmental Authority which could result in an increase to or accelerate the payment of any liability with respect to a
Pension Plan, a copy of such notice; and
(e) simultaneously with the date that any Credit Party (i) commences or terminates negotiations with any collective bargaining
agent for the purpose of materially changing any collective bargaining agreement; (ii) reaches an agreement with any collective bargaining agent prior to
ratification for the purpose of materially changing any collective bargaining agreement; (iii) ratifies any agreement reached with a collective bargaining agent
for the purpose of materially changing any collective bargaining agreement; or (iv) becomes subject to a “cooling off period” under the auspices of the
National Mediation Board, notification of the commencement or termination of such negotiations, a copy of such agreement or notice of such ratification or a
“cooling off period,” as the case may be.
5.17 Maintenance of Liens and Collateral.
Each Credit Party, subject to Section 5.12, shall do or cause to be done all things necessary to preserve and keep in full force and effect
at all times the Liens securing the Obligations as provided in the Loan Documents.
5.18 Use of Proceeds.
The proceeds of the Loans and the Letters of Credit will be used by Borrower for the general corporate purposes of the Credit Parties.
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