Delta Airlines 2006 Annual Report Download - page 248

(j) that is in default and such default is reasonably likely to result in such Account Debtor’s failure to make
payment with respect to such Account; provided, that, without limiting the generality of the foregoing, an Account shall be deemed in
default upon the occurrence of any of the following:
(i) the Account is not paid within ninety (90) days following its original invoice date;
(ii) the Account Debtor obligated upon such Account suspends business, makes a general assignment for the benefit of
creditors or fails to pay its debts generally as they come due; or
(iii) a petition is filed by or against any Account Debtor obligated upon such Account under any bankruptcy law or any
other federal, state or foreign (including any provincial) receivership, insolvency relief or other law or laws for the
relief of debtors;
(k) that is the obligation of an Account Debtor if fifty percent (50%) or more of the Dollar amount
of all Accounts owing by that Account Debtor are ineligible under the other criteria set forth in clause (j)above;
(l) as to which the Lien of the Administrative Agent for the benefit of the Secured Parties is not a
first priority perfected Lien;
(m) as to which any of the representations or warranties in the Loan Documents with respect to such specific Account
are untrue;
(n) to the extent such Account is evidenced by a judgment, Instrument or Chattel Paper;
(o) to the extent such Account exceeds any credit limit established by the Administrative Agent, in its
reasonable credit judgment;
(p) except with respect to Credit Card Receivables, to the extent that such Account, together with all other
Accounts owing by such Account Debtor and its Affiliates as of any date of determination exceed 10% of all Eligible Accounts;
(q) that is payable in any currency other than Dollars;
(r) that arises from interline activity including services and billings performed between airlines (but
excluding the transportation of passengers) and the payment of which is handled through third party domestic or foreign clearing houses;
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