Delta Airlines 2006 Annual Report Download - page 171

5.19 Cash Management Systems.
Borrower will establish and will maintain until the Termination Date, the Cash Management Systems as described in Annex C.
5.20 Appraisals.
Each Credit Party shall provide the Administrative Agent access to its properties and to the Collateral in accordance with Section
1.12and permit the Administrative Agent to have an Appraiser conduct appraisals as set forth in Annex F.
6. NEGATIVE COVENANTS
Each Credit Party agrees that from and after the Closing Date until the Termination Date:
6.1 Mergers, Subsidiaries, Etc.
No Delta Company shall directly or indirectly, by operation of law or otherwise, merge or consolidate with any Person or acquire Stock
of any Person; provided, that (a) any Subsidiary may merge or consolidate with (i) Borrower or a Guarantor in a transaction in which Borrower or any
Guarantor is the surviving Person and (ii) if such Subsidiary is not a Guarantor, any other Delta Company, (b) Borrower may merge or consolidate with, or
acquire Stock of, any Person to effectuate an Investment permitted by Section 6.2in a transaction in which Borrower is the surviving Person, (c) any
Subsidiary may merge or consolidate with, or acquire Stock of, any Person to effectuate an Investment permitted by Section 6.2in a transaction in which a
Subsidiary is the surviving Person and (d) any Subsidiary may merge or consolidate with another Person in connection with any sale or other disposition of
such Subsidiary permitted pursuant to Section 6.8; provided, that such merger, consolidation or acquisition shall not result in the acquisition of Stock located
outside of the United States in an amount in excess of $25,000,000 in the aggregate.
6.2 Investments; Loans and Advances.
Except as otherwise expressly permitted by this Section 6.2,no Delta Company shall make or permit to exist any investment in, or make,
accrue or permit to exist loans or advances of money to, any Person, through the direct or indirect lending of money, holding of securities or otherwise (all of
the foregoing, “Investments”), except (without duplication):
(a) each Delta Company may hold Investments comprised of notes payable, or stock or other securities issued by Account Debtors
to such Delta Company pursuant to negotiated agreements with respect to settlement of such Account Debtor’s Accounts in the ordinary course of business,
consistent with past practices;
(b) each Delta Company may maintain its existing investments in its Subsidiaries as of the Closing Date summarized on
Disclosure Schedule 3.8 or 6.2;
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