RESPECTS AS ITS BUSINESS ON THE DATE OF THIS
AGREEMENT.
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SECTION 8.10.
USE OF PROCEEDS.
NOT USE OR PERMIT THE
DIRECT OR INDIRECT USE OF ANY PROCEEDS OF OR WITH RESPECT TO THE LOAN FOR THE
PURPOSE, WHETHER IMMEDIATE, INCIDENTAL OR ULTIMATE, OF "PURCHASING OR CARRYING"
(WITHIN THE MEANING OF REGULATION U) MARGIN STOCK.
SECTION 8.11.
OTHER AGREEMENTS.
NOT ENTER INTO ANY
AGREEMENT CONTAINING ANY PROVISION WHICH WOULD BE VIOLATED OR BREACHED BY THE
PERFORMANCE OF ITS OBLIGATIONS HEREUNDER OR UNDER ANY INSTRUMENT OR DOCUMENT
DELIVERED OR TO BE DELIVERED BY IT HEREUNDER OR IN CONNECTION HEREWITH OR WHICH
WOULD VIOLATE OR BREACH ANY PROVISION HEREOF OR OF ANY SUCH INSTRUMENT OR
DOCUMENT.
SECTION 8.12.
COMPLIANCE WITH APPLICABLE LAWS.
COMPLY,
AND CAUSE EACH OF ITS SUBSIDIARIES TO COMPLY, WITH THE REQUIREMENTS OF ALL
APPLICABLE LAWS, RULES, REGULATIONS, AND ORDERS OF ALL GOVERNMENTAL AUTHORITIES
(FEDERAL, STATE, LOCAL OR FOREIGN, AND INCLUDING, WITHOUT LIMITATION,
ENVIRONMENTAL LAWS, RULES, REGULATIONS AND ORDERS), A BREACH OF WHICH WOULD NOT
REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT, EXCEPT WHERE THE
BORROWER IS CONTESTING AN ALLEGED BREACH IN GOOD FAITH AND BY PROPER PROCEEDINGS
AND FOR WHICH THE BORROWER OR SUCH SUBSIDIARY IS MAINTAINING ADEQUATE RESERVES
IN ACCORDANCE WITH GAAP.
SECTION 8.13.
ENVIRONMENTAL MATTERS.
(A)
NOT PERMIT THE COLLATERAL OR ANY PORTION
THEREOF TO BE INVOLVED IN THE USE, GENERATION, MANUFACTURE, STORAGE, DISPOSAL OR
TRANSPORTATION OF HAZARDOUS MATERIAL EXCEPT IN COMPLIANCE WITH ALL ENVIRONMENTAL
LAWS.
(B)
KEEP AND MAINTAIN THE COLLATERAL AND EACH
PORTION THEREOF IN COMPLIANCE IN ALL MATERIAL RESPECTS WITH, AND NOT CAUSE OR
PERMIT THE COLLATERAL OR ANY PORTION THEREOF TO BE IN MATERIAL VIOLATION OF, ANY
ENVIRONMENTAL LAW.
(C)
IMMEDIATELY NOTIFY THE BANK IN WRITING OF:
(I)
ANY AND ALL ENFORCEMENT, CLEANUP,
REMOVAL OR OTHER GOVERNMENTAL OR REGULATORY ACTIONS COMPLETED, INSTITUTED OR
THREATENED, OR NOTIFICATIONS OF POTENTIAL LIABILITY ISSUED AGAINST THE
COLLATERAL PURSUANT TO THE APPLICATION OF ANY ENVIRONMENTAL LAWS;
(II)
ANY AND ALL CLAIMS MADE OR OVERTLY
THREATENED IN WRITING BY ANY PERSON AGAINST THE COLLATERAL RELATING TO DAMAGE,
CONTRIBUTION, COST RECOVERY, COMPENSATION, LOSS OR INJURY RESULTING FROM ANY
PRESENCE, RELEASE, DISCHARGE OR MIGRATION OF ANY HAZARDOUS MATERIAL (THE MATTERS
SET FORTH IN THIS CLAUSE (II) AND THE FOREGOING CLAUSE (I) BEING HEREINAFTER
REFERRED TO AS "ENVIRONMENTAL CLAIMS");
(III)
ANY AND ALL SETTLEMENT AGREEMENTS, CONSENT
DECREES OR OTHER COMPROMISES WHICH THE BORROWER SHALL ENTER INTO WITH RESPECT TO
ANY ENVIRONMENTAL CLAIMS; AND
(IV)
KNOWLEDGE BY BORROWER OF ANY OCCURRENCE OR
CONDITION ON ANY REAL PROPERTY ADJOINING OR IN THE VICINITY OF THE COLLATERAL
THAT COULD
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CAUSE THE COLLATERAL OR ANY PART THEREOF TO BE SUBJECT TO ANY MATERIAL
RESTRICTIONS ON THE OWNERSHIP, OCCUPANCY, TRANSFERABILITY OR USE THEREOF UNDER
ANY ENVIRONMENTAL LAW.
SECTION 8.14.
FINANCIAL COVENANT.
GUARANTOR COVENANTS
THAT IT WILL NOT PERMIT THE FIXED CHARGE COVERAGE RATIO FOR ANY COMPUTATION
PERIOD TO BE LESS THAN 1.50 TO 1.00.
SECTION 8.15.
TITLE TO AIRCRAFT COLLATERAL.
BORROWER
SHALL, AT ALL TIMES, HOLD GOOD AND MARKETABLE TITLE TO ALL