Delta Airlines 2010 Annual Report Download - page 195

the applicable Qualified L/C Provider and reasonably satisfactory to IAT and the Bond Insurer (a "Letter of Credit"), to be issued by a Qualified L/C
Provider in the aggregate amount of the Security Amount in favor of IAT, which Letter of Credit shall allow for multiple draws thereunder, and no less
frequently than once per calendar month. IAT may at any time draw upon such Letter of Credit or cause to be disbursed from the Escrow Account, as
applicable, an amount not to exceed (i) the aggregate amount of Delta Rent and Additional Rent due and payable as of the date of such draw or request for
disbursement, and (ii) if there has been a Delta Event of Default on or prior to the date of such draw, amounts due by Delta under this Agreement as a result of
such Event of Default and IAT's exercise of remedies in respect thereof, but in all cases only to the extent not otherwise paid by Delta or due as a credit to
Delta Rent pursuant to this Agreement as of the date of such draw or request for disbursement. Delta's obligation to cause a Letter of Credit to be issued, or to
make a Cash Deposit, pursuant to this Section 16.04 shall cease (x) permanently on the date on which no Series 6 Bonds are outstanding, and (y) provided that
no Holdback Trigger is then in effect, from the date on which Delta's Liquidity is in excess of the Liquidity Trigger for six (6) consecutive months as
confirmed by (i) the Liquidity Reports (as defined below) for such six (6) consecutive month period and (ii) all Form 10-Q filings made by Delta with the
SEC, or if not publicly available, as provided to the Bond Insurer, relating to such six (6) consecutive month period, subject to reinstatement on the next date
on which Delta's Liquidity is below the Liquidity Trigger or if a Holdback Trigger is then in effect. If there are Series 6 Bonds outstanding, Delta agrees to
provide to the Bond Insurer (i) monthly reports reflecting Delta's total Liquidity, within ten (10) Business Days following the end of each calendar month
(each, a "Liquidity Report"), and (ii) Delta's annual and quarterly Forms 10-K and 10-Q filed with the SEC, which shall be provided within ten (10) Business
Days following the filing thereof with the SEC. If there are Series 6 Bonds outstanding, the Bond Insurer shall be a third-party beneficiary of this Agreement
with respect to this Section 16.04.
80