Frontier Airlines 2008 Annual Report Download - page 135

(c) promptly after the assertion or occurrence thereof, notice of any Environmental Action against or of any noncompliance by
any Loan Party with any Environmental Law or Environmental Permit that could reasonably be expected to have a Material Adverse
Effect.
(d) promptly, such additional information regarding the business, financial or corporate affairs of any Loan Party, or compliance
with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time to time reasonably request; and
(e) promptly upon request of Administrative Agent or any Significant Lender a schedule listing all locations at which $1,000,000
or more of Equipment of any Loan Party is located.
6.03 Notices. Promptly notify the Administrative Agent and each Significant Lender:
(a) of the occurrence of any Default;
(b) of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect;
(c) of the occurrence of any ERISA Event;
(d) of the occurrence of any event for which the Borrower is required to make a mandatory repayment pursuant to Section
2.02(b);
(e) of a breach of the Use or Lose Rule; and
(f) of any material setoff, claims (including with respect to material environmental claims), withholdings or other defenses to
which any of the Collateral, or any of the Agents’ or the Lenders’ rights with respect to the Collateral, in any material respect, are
subject.
Each notice pursuant to this Section shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth
details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect
thereto. Each notice pursuant to Section 6.03(a) shall describe with particularity any and all provisions of this Agreement and any
other Loan Document that have been breached.
6.04 Payment of Obligations. Pay all taxes, assessments and other governmental charges imposed upon it or any of its properties or
assets or in respect of any of its income, businesses or franchises before any penalty accrues thereon, and all claims (including claims
for labor, services, materials and supplies) for sums that have become due and payable and that by law have or may become a Lien
upon any of its properties or assets, prior to the time when any penalty or fine shall be incurred with respect thereto; provided that no
such tax, assessment, charge or claim need be paid if it is being contested in good faith by appropriate proceedings promptly instituted
and diligently conducted, so long as (i) such reserve or other appropriate provision, if any, as shall be required in conformity with
GAAP shall have been made therefor and (ii) such proceedings conclusively operate to stay the sale of any portion of the Collateral to
satisfy such charge or claim.
6.05 Preservation of Existence, Etc. (a) Preserve, renew and maintain in full force and effect its legal existence and good standing
under the Laws of the jurisdiction of its organization except in a transaction permitted by Section 7.05 or 7.06; (b) take all reasonable
action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business,
except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew
all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably be expected to
have a Material Adverse Effect.
6.06 Maintenance of Properties. (a) Maintain, preserve and protect all of its material properties and equipment necessary in the
operation of its business in good working order and condition, ordinary wear and tear excepted; (b) make all necessary repairs thereto
and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse
Effect; and (c) use the standard of care typical in the industry in the operation and maintenance of its facilities.
6.07 Maintenance of Insurance. Maintain with financially sound and reputable insurance companies not Affiliates of the Borrower
(other than Cardinal Insurance Company, Cayman Ltd.), insurance or reinsurance in accordance with the terms of the Collateral
Documents and otherwise with respect to its properties and business against loss or damage of the kinds customarily insured against
by Persons engaged in the same or similar business, of such types and in such amounts as are customarily carried under similar
circumstances by such other Persons and providing for not less than 30 days’ prior notice to the Collateral Agent of termination,
modification, lapse or cancellation of such insurance or reinsurance. Each such policy of insurance shall (a) name the Collateral
Agent for the benefit of the Lenders as an additional insured thereunder as its interests may appear and (b) in the case of each business
interruption and casualty insurance policy, contain a loss payable clause or endorsement, satisfactory in form and substance to
Collateral Agent and each Significant Lender, that names Collateral Agent for the benefit of Lenders as the loss payee thereunder for
any covered loss.
6.08 Compliance with Laws. Comply in all material respects with the requirements of all Laws and all orders, writs, injunctions and
decrees applicable to it or to its business or property, except in such instances in which the failure to comply therewith could not
reasonably be expected to have a Material Adverse Effect.
Source: REPUBLIC AIRWAYS HOLDINGS INC, 10-K, March 16, 2009 Powered by Morningstar® Document Research℠