Delta Airlines 2014 Annual Report Download - page 206

Each of the following will constitute a “ Termination Event ”
[***] CONFIDENTIAL PORTION OMITTED AND FILED SEPARATELY WITH THE COMMISSION PURSUANT TO
A REQUEST FOR CONFIDENTIAL TREATMENT
21.
TERMINATION
21.1
Termination Events
(1)
The Buyer or any of its Affiliates commences in any jurisdiction any case, proceeding or other action with
respect to the Buyer or any of its Affiliates or their properties relating to bankruptcy, insolvency,
reorganization, winding-
up, liquidation, dissolution or other relief from, or with respect to, or readjustment of,
its debts or obligations.
(2)
An action is commenced in any jurisdiction seeking the appointment of a receiver, trustee, custodian or other
similar official for the Buyer or any of its respective Affiliates or for all or any substantial part of their
respective assets, and such action remains unstayed, undismissed or undischarged for [***], or the Buyer or
any of its Affiliates makes a general assignment for the benefit of its creditors.
(3)
An action is commenced in any jurisdiction against the Buyer or any of its respective Affiliates seeking
issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of
their respective assets, and such action remains unstayed, undismissed or undischarged for [***].
(4)
The Buyer or any of its Affiliates becomes the object, in any jurisdiction, of a case, proceeding or action
similar or analogous to any of the events mentioned in Subclause 21.1(1), (2) or (3).
(5)
The Buyer or any of its Affiliates is generally not able, or is expected to be unable to, or will admit in writing
its inability to, pay its debts as they become due.
(6)
The Buyer or any of its Affiliates commences negotiations with significant creditors, existing or potential,
either with the intention of restructuring all or a substantial part of all of its outstanding obligations or in
preparation for a bankruptcy filing under the U.S. Bankruptcy Code.
(7)
The Buyer or any of its Affiliates fails to make (i) any payment required to be made under this Agreement or
any other material agreement between the Buyer or any of its Affiliates and the Seller or any of its Affiliates
when such payment is due, (ii) any Predelivery Payment required to be made under this Agreement when such
payment is due, (iii) payment of all or part of the Final Price of any Aircraft required to be made under this
Agreement; (iv) any payment to a Lessor with respect to any Leased Aircraft.
(8)
The Buyer repudiates, cancels or terminates this Agreement in whole or in part.
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