Delta Airlines 2010 Annual Report Download - page 200

ARTICLE 20.
INSURANCE
Section 20.01. IAT Insurance. Except as otherwise provided for in Section 20.02(b) with respect to certain construction work, IAT shall at all times
during the Term, purchase, provide and maintain in effect, all insurance (including coverages, limits, insureds and endorsements) required pursuant to the
Port/IAT Lease (but excluding the construction period insurance that was required of IAT during the original construction of Terminal 4 financed by the
Series 6 Bonds) and the Series 8 Bond Documents (including insurance in connection with the construction of the Phase I IAT Project, which shall be
purchased, provided and maintained by Delta in accordance with Section 20.02(b)), subject to any waivers or modifications thereof granted by the Port
Authority from time to time if permitted by Section 5.01. In addition, IAT shall at all times during the term include coastal windstorm insurance having
minimum limits of not less than $500,000,000, earthquake insurance having minimum limits of not less than $250,000,000 and flood hazard insurance having
minimum limits of not less than $50,000,000. The cost of such insurance under this Section 20.01 shall be included in the ATA Permitted O&M Expenses to
the extent not payable as Project Costs. IAT hereby waives any rights of subrogation IAT has, had, or may have against Delta to the extent such claims are
covered by such insurance.
Section 20.02. Property Insurance By Delta. (a) Delta shall, at all times during the Term, purchase, provide and maintain in effect, in its own name as
insured, insurance against all risks and hazards of physical loss and/or damage to Delta's trade fixtures, equipment and personal property (except its aircraft)
located in or on the Delta Premises including personal property financed with the proceeds of Terminal 4 Project Bonds in an amount adequate to cover 100%
of the replacement cost thereof, subject to commercially reasonable deductibles and exclusions, but in all cases in compliance with the requirements of the
Port/IAT Lease and as otherwise required by the Port Authority. Such insurance shall be endorsed: (i) to include the Port Authority, the City, the Trustee and
IAT as additional insureds, as their interests may appear; (ii) to provide that losses shall be adjusted with Delta and payable to Delta (provided that losses in
respect of personal property financed with the proceeds of Terminal 4 Project Bonds shall be used to replace such personal property); (iii) to provide that the
insurance coverage may only be canceled or materially altered in a manner adverse to the additional insureds after the insurer first provides at least 30 days'
prior written notice to the additional insureds (10 days notice in the case of non-payment); and (iv) to waive any and all rights of subrogation against the
additional insureds. Delta hereby waives any and all claims Delta has, had or may have against the additional insureds to the extent such claims are covered
by such insurance.
(b) Delta shall, at all times during the Term when Delta or its Construction Contractors are performing any construction work in or on the Delta Space
(including the installation of Delta's trade fixtures pursuant to Section 6.04 and any other construction or alteration work by Delta), either (x) purchase,
provide and maintain in effect, in its own name as insured, builders' risk (all risk) completed value insurance covering such construction work in an amount
adequate to cover 100% of the replacement cost of such construction work, or (y) at its option, cause its Construction Contractors to purchase, provide and
maintain in effect such builders' risk insurance while they are performing such construction work. Such insurance shall comply in all respects, including
coverages, limits, insureds and endorsements,
85