Delta Airlines 2010 Annual Report Download - page 164

ARTICLE 7.
RENT CHARGES, PAYMENTS
Section 7.01. Pre-DBO Rent. (a) Commencing as of the Effective Date and continuing until Phase I DBO, Delta shall promptly pay to IAT the amounts
and on the dates set forth on Schedule 7-1 (the "Pre-DBO Rent") for each Annual Period in respect of the rental for the Delta Premises (inclusive of any and
all charges for O&M Services) which amounts reflect the Initial Space Fee (as such term is defined in the Delta Space Permit) for that portion of the Delta
Premises currently occupied by Delta pursuant to the Delta Space Permit. Delta shall be entitled to the credits currently provided to Delta under the Delta
Space Permit in respect of the fees under the KLM License Agreement and the credits attributable to the Pavement Rehabilitation Project Credit, each as
described in the Delta Space Permit, which provisions shall survive termination of the Delta Space Permit. If, pursuant to Section 2.03, Additional Phase I
Gates and associated premises are included in the Delta Premises, the Pre-DBO Rent shall be increased in accordance with the same methodology illustrated
on Schedule 7-1, and if one or more Hardstand Positions are no longer included in the Delta Premises, the Pre-DBO Rent shall be reduced in accordance with
the same methodology illustrated on Schedule 7-1.
(b) If Phase I DBO does not occur on or before the date that is the end of the capitalized interest period for the Series 8 Bonds, in addition to the Rent
required to be paid pursuant to Section 7.01(a), Delta shall pay to IAT through Phase I DBO in respect of the rental for the Delta Premises (inclusive of
any and all charges for O&M Services) (i) the cost of all debt service (net of interest on any reserve and sinking fund accounts if such interest is available
for payment of such debt service) and financing costs payable in respect of the Series 8 Bonds, plus (ii) if Phase I DBO does not occur on or before
December 31, 2013, an amount equal to one-twelfth (1/12th) of the annual Series 8 First Additional Land Rent for each month until Phase I DBO occurs
(the "Interim Rent").
(c) If at any time prior to Phase I DBO any portion of the Phase I IAT Project is placed in service for federal income tax purposes, and provided that
Interim Rent is not yet due and payable as provided in Section 7.01(b), in addition to the Rent required to be paid pursuant to Section 7.01(a), Delta shall
pay to IAT as Additional Rent an amount equal to the amount of interest due and payable (net of interest on any reserve and sinking fund accounts if such
interest is available for payment of such debt service) on the portion of Series 8 Bonds equal to the aggregate cost of all such portions of the Phase I IAT
Project placed in service, as and when such interest is due and payable on the Series 8 Bonds.
Section 7.02. Delta Post-DBO Rent. (a) Commencing as of Phase I DBO, in lieu of the Pre-DBO Rent and the Interim Rent (if applicable), Delta shall
pay the Post-DBO Rent pursuant to Section 7.02(b), net of actual Terminal 4 Gate Use Fees and Terminal 4 Hardstand Use Fees to be credited against Post-
DBO Rent at the time any such payment of Post-DBO Rent is being made, on the first day of each month of each Annual Period by making payments thereof
to IAT pursuant to Section 7.06. Delta Rent shall be set annually in advance pursuant to the Budget, and reconciled in arrears in accordance with Section 7.04.
(b) Commencing as of Phase I DBO and continuing through the remainder of the Term, for each Annual Period, Delta shall pay to IAT, in accordance
with Section 7.02(a),
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