Delta Airlines 2006 Annual Report Download - page 194

(xvi) all property of any Credit Party held by the Administrative Agent or any other Secured Party, including all property
of every description, in the possession or custody of or in transit to the Administrative Agent or such Secured Party for any purpose, including
safekeeping, collection or pledge, for the account of such Credit Party or as to which such Credit Party may have any right or power;
(xvii) to the extent not otherwise included, all Proceeds of each of the foregoing, tort claims, insurance claims and other
rights to payment not otherwise included in the foregoing and products of the foregoing and all accessions to, substitutions and replacements for,
and rents and profits of, each of the foregoing;
provided, that “Collateral” shall not include (i) the Excluded Collateral provided that if and when any property shall cease to be Excluded
Collateral, such property shall be deemed at all times from and after the date such property ceased to be Excluded Collateral to constitute Collateral and (ii)
any General Intangibles or other rights arising under any contract, instrument, license or other document if the grant of a security interest therein would
constitute a breach or violation of a valid and effective restriction in favor of a third party, but only to the extent, and for so long as, in the case of clause
(ii)such restriction is not terminated or rendered unenforceable or otherwise deemed ineffective by any applicable law.
(b) [Reserved].
(c) To the extent a security interest hereunder would be created in any asset in which a security interest is created
under any Collateral Document, the rights, remedies and obligations of the relevant Credit Party and the Secured Parties with respect to such asset shall be
governed by such Collateral Document and not this Agreement.
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