Frontier Airlines 2008 Annual Report Download - page 201

ARTICLE VIII
EVENTS OF DEFAULT AND REMEDIES
8.01 Events of Default. Any of the following shall constitute an Event of Default:
(a)Non-Payment. The Borrower or any other Loan Party fails to pay when and as required to be paid herein, any amount of principal
of, or interest on, the Term Loan, or when and as the same becomes due, any other amount payable hereunder or under any other
Loan Document; or
(b)Specific Covenants. The Borrower fails to perform or observe any term, covenant or agreement contained in any of Sections 6.03,
6.05, 6.07, 6.10, 6.11, 6.13, 6.14 or 6.15, or Article VII; or
(c)Other Defaults. Any Loan Party fails to perform or observe any other covenant or agreement (not specified in subsection (a) or (b)
above) contained in any Loan Document on its part to be performed or observed and such failure continues unremedied for five (5)
Business Days after the earlier of the date on which (A) a Responsible Officer becomes aware of such failure or (B) written notice
thereof shall have been given to the Borrower by the Lender; or
(d) Representations and Warranties. Any representation, warranty, certification or statement of fact made by or on behalf of the
Borrower or any other Loan Party herein, in any other Loan Document, or in any document delivered in connection herewith or
therewith shall be incorrect or misleading in any material respect when made; or
(e) Cross-Default on Indebtedness. Any event shall have occurred that permits any holder or holders (or a trustee or agent on behalf of
such holder or holders) of Indebtedness (other than Indebtedness hereunder) to demand the payment of such Indebtedness prior to
its stated maturity, or cash collateral in respect thereof; or
(f)Judgments. There is entered against any Loan Party or any Subsidiary (i) a final judgment or order for the payment of money in an
aggregate amount exceeding $100,000 (to the extent not covered by independent third-party insurance as to which the insurer is
rated at least “A” by A.M. Best Company, has been notified of such claim and does not dispute coverage), or (ii) any one or more
non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect and, in either case, there is a period of five (5) consecutive Business Days during which a stay of enforcement of
such judgment, by reason of a pending appeal or otherwise, is not in effect; or
(g) Invalidity of Loan Documents. Any provision of any Loan Document, at any time after its execution and delivery and for any
reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be valid and
binding on or enforceable against any Loan Party intended to be a party to it; any Loan Party files a motion or other pleading
seeking to challenge the validity of any Loan Document or the applicability or enforceability of any Loan Document or which seeks
to void, avoid, limit, or otherwise adversely affect the security interest created by or in any Loan Document or any payment made
pursuant thereto; or any Loan Party denies that it has any or further liability or obligation under any Loan Document, or purports to
revoke, terminate or rescind any Loan Document; or
Source: REPUBLIC AIRWAYS HOLDINGS INC, 10-K, March 16, 2009 Powered by Morningstar® Document Research℠