RESPECT),
IN EACH CASE, AS OF THE DATE WHEN MADE OR DEEMED MADE.
(F)
THE LOAN DOCUMENTS AND THE ORDERS SHALL, FOR ANY REASON, CEASE TO
CREATE A VALID LIEN ON ANY OF THE COLLATERAL PURPORTED TO BE COVERED THEREBY OR
SUCH LIEN SHALL CEASE TO BE A PERFECTED LIEN HAVING THE PRIORITY PROVIDED FOR
HEREIN AND IN THE ORDERS, OR ANY BORROWER SHALL SO ALLEGE IN ANY PLEADING FILED
IN ANY COURT OR ANY PROVISION OF ANY LOAN DOCUMENT SHALL, FOR ANY REASON, CEASE
TO BE VALID AND BINDING ON EACH BORROWER PARTY THERETO (OR ANY BORROWER SHALL
CHALLENGE THE ENFORCEABILITY OF ANY LOAN DOCUMENT OR SHALL ASSERT IN WRITING, OR
ENGAGE IN ANY ACTION OR INACTION BASED ON ANY SUCH ASSERTION, THAT ANY PROVISION
OF ANY OF THE LOAN DOCUMENTS HAS CEASED TO BE OR OTHERWISE IS NOT VALID, BINDING
AND ENFORCEABLE IN ACCORDANCE WITH ITS TERMS).
(G)
A FINAL UNSTAYED POSTPETITION JUDGMENT OR JUDGMENTS FOR THE
PAYMENT OF MONEY IN EXCESS OF $4,000,000 IN THE AGGREGATE AT ANY TIME ARE
OUTSTANDING AGAINST ONE OR MORE OF THE BORROWER S (WHICH JUDGMENTS ARE NOT
COVERED BY INSURANCE POLICIES AS TO WHICH LIABILITY HAS BEEN ACCEPTED BY THE
INSURANCE CARRIER), AND THE SAME ARE NOT, WITHIN THIRTY (30) DAYS AFTER THE
ENTRY THEREOF, DISCHARGED OR BONDED PENDING APPEAL, OR SUCH JUDGMENTS ARE NOT
DISCHARGED PRIOR TO THE EXPIRATION OF ANY SUCH STAY.
(H)
ANY CHANGE OF CONTROL OCCURS.
(I)
ANY AIR CARRIER SHALL CEASE TO BE A CERTIFICATED AIR CARRIER.
(J)
IN THE CASE OF ANY SLOTS OR GATE INTERESTS, ANY APPLICABLE
AVIATION AUTHORITY MODIFIES, SUSPENDS, REVOKES, TERMINATES, CANCELS OR OTHERWISE
TAKES ANY ACTION THAT
38
ADVERSELY AFFECTS ANY BORROWER'S PERMITS OR ANY BORROWER'S USE OR OCCUPATION OR
MAINTENANCE OF OR OTHER INTEREST IN SUCH SLOTS AND GATE INTERESTS DUE TO ANY
BORROWER'S FAILURE TO ABIDE BY APPLICABLE LAW OR ANY CONTRACT GOVERNING THE USE
OF SUCH SLOTS AND GATE INTERESTS, OR ANY BORROWER OTHERWISE CEASES TO USE,
OCCUPY OR MAINTAIN SUCH SLOTS AND GATE INTERESTS, AND WITH RESPECT TO GATE
INTERESTS AND ANY SLOT OTHER THAN A SLOT AT NEW YORK LAGUARDIA AIRPORT, ANY
EVENT REFERRED TO IN THIS CLAUSE (J) COULD REASONABLY BE EXPECTED TO HAVE A
MATERIAL ADVERSE EFFECT.
(K)
ANY ERISA EVENT SHALL HAVE OCCURRED WITH RESPECT TO ONE OR MORE
PLANS, BUT ONLY TO THE EXTENT THAT SUCH ERISA EVENT, TOGETHER WITH ALL OTHER
ERISA EVENTS THAT HAVE OCCURRED, COULD REASONABLY BE EXPECTED TO HAVE A MATERIAL
ADVERSE EFFECT.
(L)
ANY OF THE CASES SHALL BE DISMISSED (OR THE BANKRUPTCY COURT
SHALL MAKE A RULING REQUIRING THE DISMISSAL OF THE CASES) OR CONVERTED TO A CASE
UNDER CHAPTER 7 OF THE BANKRUPTCY CODE, OR ANY BORROWER SHALL FILE ANY PLEADING
REQUESTING ANY SUCH RELIEF; A TRUSTEE UNDER CHAPTER 7 OR CHAPTER 11 OF THE
BANKRUPTCY CODE, A RESPONSIBLE OFFICER OR AN EXAMINER WITH ENLARGED POWERS
RELATING TO THE OPERATION OF THE BUSINESS (POWERS BEYOND THOSE SET FORTH IN
SECTION 1106(A)(3) AND (4) OF