THAT ARE
OUTSTANDING AS OF SUCH DATE SHALL BE CONVERTED INTO TERM LOANS IN ACCORDANCE
WITH SECTION 2.01(E).
(G)
ALL PREPAYMENTS OF THE PRINCIPAL AMOUNT OF THE LOANS PURSUANT TO
THIS SECTION 2.07 SHALL BE APPLIED FIRST TO SWING LINE LOANS, THEN TO OTHER BASE
RATE LOANS AND THEN TO LIBOR LOANS.
(H)
ANY RELEASE OF COLLATERAL IN CONNECTION WITH A PREPAYMENT IN
ACCORDANCE WITH THE PROVISIONS OF THIS SECTION 2.07 SHALL BE SUBJECT TO THE
APPLICABLE PROVISIONS OF THE LOAN DOCUMENTS, INCLUDING, WITHOUT LIMITATION,
SECTION 5(A) OF THE SECURITY AGREEMENT, SECTION 6.09 OF THE MORTGAGE, SECTION 22
OF THE APPLICABLE BENEFICIAL PLEDGE AGREEMENT, SECTION 6.09 OF THE APPLICABLE
OWNER TRUSTEE
32
MORTGAGE AND SECTION 3.3 OF THE LEASING SUBSIDIARY SECURITY ASSIGNMENTS.
THE
SECURITY AGENT, AT THE COST AND EXPENSE OF THE BORROWER, SHALL COOPERATE WITH
THE BORROWER IN EFFECTUATING ANY SUCH RELEASE.
SECTION 2.08.
USE OF PROCEEDS OF LOANS.
THE BORROWER WILL USE THE
PROCEEDS OF ANY LOAN TO BE MADE PURSUANT HERETO FOR THE PURCHASE OR REFINANCING
OF ENGINES AND EQUIPMENT AS CONTEMPLATED HEREIN, AS WELL AS FOR WORKING CAPITAL
AND GENERAL CORPORATE PURPOSES, SUBJECT TO SECTION 2.04.
SECTION 2.09.
PAYMENT OF LOANS.
ON THE TERM LOAN MATURITY DATE, OR IF
THE BORROWER ELECTS TO PREPAY ALL LOANS HEREUNDER ON AN EARLIER DATE PURSUANT TO
SECTION 2.07 ON THE DATE OF SUCH PREPAYMENT, THE BORROWER SHALL PAY TO THE
ADMINISTRATIVE AGENT FOR THE ACCOUNTS OF EACH OF THE BANKS THE FULL OUTSTANDING
PRINCIPAL AMOUNT OF ALL OF ITS LOANS TOGETHER WITH ACCRUED INTEREST THEREON AND
ALL OTHER AMOUNTS DUE WITH RESPECT THERETO OR OTHERWISE UNDER THIS AGREEMENT,
THE NOTES AND THE LOAN DOCUMENTS, SUBJECT TO ANY REQUIRED PREPAYMENT TO BE MADE
PRIOR THERETO UNDER THIS AGREEMENT.
SECTION 2.10.
INTEREST.
(A)
INTEREST SHALL ACCRUE ON THE UNPAID
PRINCIPAL AMOUNT OF EACH LOAN, FOR THE PERIOD COMMENCING ON THE DATE OF SUCH
LOAN UNTIL SUCH LOAN SHALL BE PAID IN FULL, AT THE FOLLOWING RATES PER ANNUM:
(I)
SUBJECT TO SECTION 2.10(C) DURING SUCH PERIODS AS SUCH LOAN IS A
LIBOR LOAN, FOR EACH INTEREST PERIOD RELATING THERETO, THE LIBOR RATE FOR SUCH
PERIOD PLUS THE APPLICABLE MARGIN; AND
(II)
DURING SUCH PERIODS AS SUCH LOAN IS A BASE RATE LOAN, THE BASE
RATE AS IN EFFECT FROM TIME TO TIME PLUS THE APPLICABLE MARGIN.
(B)
NOTWITHSTANDING THE FOREGOING, FROM AND AFTER THE OCCURRENCE AND
DURING THE CONTINUANCE OF A DEFAULT, THE BORROWER SHALL NOT BE PERMITTED TO
BORROW, CONVERT TO OR CONTINUE LIBOR LOANS.
(C)
FROM AND AFTER THE OCCURRENCE AND DURING THE CONTINUANCE OF AN
EVENT OF DEFAULT OR WITH RESPECT TO ANY AMOUNTS WHICH SHALL NOT BE PAID WHEN
DUE, THE BORROWER SHALL PAY INTEREST AT THE APPLICABLE POST-DEFAULT RATE ON ITS
LOANS OR ANY INSTALLMENT OF PRINCIPAL THEREOF, AND ON ANY OTHER AMOUNT PAYABLE
BY THE BORROWER HEREUNDER (INCLUDING INTEREST TO THE EXTENT PERMITTED BY LAW),
WHICH INTEREST SHALL CONTINUE TO ACCRUE AFTER THE FILING BY OR AGAINST THE
BORROWER OF A PETITION FOR RELIEF