Delta Airlines 2012 Annual Report Download - page 323

SECTION 7.18 Counterparts . This Agreement may be executed in any number of counterparts (including by
facsimile), each of which when so executed and delivered will be deemed an original, but all such counterparts together will
constitute but one and the same instrument.
SECTION 7.19 Effectiveness . This Agreement will become effective upon the execution of a counterpart hereof
by each of the parties hereto and receipt by each party of written notification of such execution and written or telephonic
authorization of delivery thereof.
SECTION 7.20 Grantors and Additional Grantors . Delta represents and warrants that each Person who is a
Grantor on the date hereof has duly executed this Agreement. Delta will cause each Person that hereafter becomes a Grantor
or is required by any Secured Debt Document to become a party to this Agreement to become a party to this Agreement, for
all purposes of this Agreement, by causing such Person to execute and deliver to the Collateral Trustee a Collateral Trust
Joinder, whereupon such Person will be bound by the terms hereof to the same extent as if it had executed and delivered this
Agreement as of the date hereof. Delta shall promptly provide each Secured Debt Representative with a copy of each
Collateral Trust Joinder executed and delivered pursuant to this Section 7.20; provided , however , that the failure to so
deliver a copy of the Collateral Trust Joinder to any then existing Secured Debt Representative shall not affect the inclusion
of such Person as a Grantor if the other requirements of this Section 7.20 are complied with.
SECTION 7.21 Continuing Nature of this Agreement . This Agreement, including the subordination provisions
hereof, will be reinstated if at any time any payment or distribution in respect of any of the Priority Lien Obligations is
rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Priority
Lien Obligations or Priority Lien Representative or any representative of any such party (whether by demand, settlement,
litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Priority Lien
Obligations is recovered from any holder of Priority Lien Obligations or any Priority Lien Representative in an Insolvency
or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Lien Obligations or
Junior Lien Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral or any title
insurance policy required by any real property mortgage at any time after the date of the payment or distribution that is so
recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that holder of a Junior
Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders
of the Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien, to be applied in accordance with
Section 3.4. Until so delivered, such proceeds will be held by that Junior Lien Representative or that holder of a Junior Lien
Obligation, as the case may be, for the benefit of the holders of the Priority Lien Obligations and other Obligations secured
by a Permitted Prior Lien.
SECTION 7.22 Insolvency . This Agreement will be applicable both before and after the commencement of any
Insolvency or Liquidation Proceeding by or against any Grantor. The relative rights, as provided for in this Agreement, will
continue after the commencement of any such Insolvency or Liquidation Proceeding on the same basis as prior to the date of
the commencement of any such case, as provided in this Agreement.
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