OTHER
INFORMATION.
FURNISH TO THE BANK:
(A)
ANNUAL FINANCIAL STATEMENTS - AAR.
AS SOON
AS POSSIBLE, AND IN ANY EVENT WITHIN 120 DAYS AFTER THE CLOSE OF EACH FISCAL
YEAR ENDED MAY 31, CONSOLIDATED FINANCIAL STATEMENTS OF AAR, WILL BE AVAILABLE
ON THE INTERNET.
(B)
QUARTERLY FINANCIAL STATEMENTS - AAR.
AS
SOON AS AVAILABLE, AND IN ANY EVENT WITHIN FORTY-FIVE (45) DAYS AFTER THE CLOSE
OF EACH FISCAL QUARTER, CONSOLIDATED FINANCIAL STATEMENTS OF AAR WILL BE
AVAILABLE ON THE INTERNET.
(C)
QUARTERLY COVENANT COMPLIANCE CERTIFICATE.
WITHIN TEN (10) BUSINESS DAYS OF THE MAKING AVAILABLE ON EDGAR OR THE INTERNET
OF THE ANNUAL FINANCIAL STATEMENTS REFERENCED IN SECTION 8.1(A) OR THE QUARTERLY
FINANCIAL STATEMENTS REFERENCED IN SECTION 8.1(B), FURNISH TO THE BANK A DULY
COMPLETED CERTIFICATE IN THE FORM OF ATTACHED EXHIBIT B (A "COVENANT COMPLIANCE
CERTIFICATE") DATED THE DATE OF SUCH FINANCIAL STATEMENTS AND SIGNED BY AN
AUTHORIZED OFFICER OF AAR, WHICH COVENANT COMPLIANCE CERTIFICATE SHALL (I) AS OF
THE END OF EACH FISCAL YEAR OF AAR, CONTAIN A COMPUTATION OF, AND SHOW
COMPLIANCE WITH THE FINANCIAL RATIO CONTAINED IN SECTION 8.14 AS OF THE END OF
SUCH FISCAL YEAR, AND (II) STATE THAT NO EVENT OF DEFAULT HAS OCCURRED AND IS
CONTINUING, OR, IF THERE IS ANY SUCH EVENT, DESCRIBES IT AND THE STEPS, IF ANY,
BEING TAKEN TO CURE IT.
(D)
NOTICE OF DEFAULT.
IMMEDIATELY UPON
LEARNING OF THE OCCURRENCE OF AN EVENT OF DEFAULT, PROVIDE WRITTEN NOTICE
THEREOF WHICH DESCRIBES THE SAME AND THE STEPS BEING TAKEN BY THE BORROWER TO
CURE SUCH EVENT OF DEFAULT.
(E)
INSURANCE CERTIFICATES.
AT THE TIME OF THE
INITIAL DISBURSEMENT OF ANY OF THE LOANS, AND FROM TIME-TO-TIME THEREAFTER, AS
REASONABLY REQUESTED BY BANK, A CERTIFICATE OF INSURANCE AND BROKER'S
UNDERTAKING EVIDENCING COMPLIANCE WITH THE INSURANCE REQUIREMENTS OF THE
SECURITY AGREEMENT
(F)
BORROWING BASE REPORT.
UPON AND IN
CONJUNCTION WITH ANY REQUEST FOR A DISBURSEMENT OF A REVOLVING LOAN AND WITHIN
TEN (10) BUSINESS DAYS AFTER ANY AIRCRAFT CEASES TO BE AN ELIGIBLE AIRCRAFT, AND
WITHIN TWENTY (20) DAYS AFTER THE END OF EACH CALENDAR MONTH, BORROWER SHALL
PROVIDE TO THE BANK A CURRENT CALCULATION OF THE BORROWING BASE IN FORM AND
SUBSTANCE REASONABLY SATISFACTORY TO THE BANK ("BORROWING BASE REPORT").
(G)
OTHER INFORMATION.
SUCH OTHER INFORMATION
CONCERNING THE BORROWER OR THE GUARANTOR AS THE BANK MAY REASONABLY REQUEST FROM
TIME TO TIME.
SECTION 8.2.
EXISTENCE AND FRANCHISES.
EXCEPT AS
OTHERWISE EXPRESSLY PERMITTED IN THIS AGREEMENT, MAINTAIN AND CAUSE BORROWER TO
MAINTAIN IN FULL FORCE AND AFFECT ITS EXISTENCE AND ALL RIGHTS, LICENSES, LEASES
AND FRANCHISES NECESSARY TO THE CONDUCT OF ITS BUSINESS, OTHER THAN SUCH RIGHTS,
LICENSES, LEASES AND FRANCHISES THE FAILURE OF WHICH TO MAINTAIN WOULD NOT
REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT.
SECTION 8.3.
BOOKS, RECORDS AND INSPECTIONS.
MAINTAIN COMPLETE AND ACCURATE BOOKS AND RECORDS, PERMIT THE BANK TO HAVE ACCESS
TO SUCH BOOKS AND RECORDS, AND PERMIT THE
19
BANK, AT THE BANK'S EXPENSE, TO INSPECT THE PROPERTIES AND OPERATIONS OF THE
BORROWER