SEC Contract Filing

Filing Date: 2022-03-01

Document Content:
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<TYPE>EX-10.24
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<FILENAME>exhibit1024paymentguaran.htm
<DESCRIPTION>EX-10.24
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<DIV><FONT size="1" style="font-size:1pt;color:white">1 PAYMENT GUARANTY This PAYMENT GUARANTY (as amended, restated, amended and restated, supplemented, and/or otherwise modified from time to time, this &#8220;Guaranty&#8221;), dated as of October 13, 2021 is made by ALLEGIANT TRAVEL COMPANY, a Nevada corporation (the &#8220;Company&#8221;), SFI EQUITY HOLDCO, INC., a Florida corporation (the &#8220;Borrower Parent&#8221;) and each of the Subsidiary Guarantors listed on Exhibit A attached hereto and made a part hereof (collectively, the &#8220;Subsidiary Guarantors&#8221;; together with the Company and the Borrower Parent, each individually, a &#8220;Guarantor&#8221;, and collectively, the &#8220;Guarantors&#8221;) in favor of WILMINGTON TRUST, NATIONAL ASSOCIATION, in its capacity as administrative agent (in such capacity, together with its successors and assigns, the &#8220;Administrative Agent&#8221;) for the benefit of those certain banks, financial institutions and other entities from time to time party thereto in the capacity of lenders (collectively, the &#8220;Lenders&#8221;) and the other Secured Parties (as defined in the Credit Agreement). RECITALS A. Sunseeker Florida, Inc., a Florida corporation (the &#8220;Borrower&#8221;) and the Company has entered into that certain Credit Agreement, dated as of the date hereof (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the &#8220;Credit Agreement&#8221;), by and among the Borrower, the Lenders, Castlelake Lending Opportunities, L.L.C., a Delaware limited liability company, as facility manager (the &#8220;Facility Manager&#8221;) and the Administrative Agent. B. Each Guarantor directly or indirectly owns and controls the Borrower or is otherwise affiliated with the Borrower, and each Guarantor will receive direct or indirect benefits from the extensions of credit and other transactions under the Credit Agreement. C. It is a requirement under the Credit Agreement that the Obligations (as defined therein) be guaranteed by the Guarantors, and the Guarantors are willing to irrevocably and unconditionally guarantee the Obligations. AGREEMENT NOW, THEREFORE, based upon the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and in order to induce the Secured Parties to make extensions of credit under the Credit Agreement and to enter into the Loan Documents, the Guarantors hereby jointly and severally agree as follows: SECTION 1. DEFINITIONS 1.1 Certain Defined Terms. As used in this Guaranty, the following terms shall have the following meanings unless the context otherwise requires: &#8220;Administrative Agent&#8221; is defined in the preamble. &#8220;Bankruptcy Code&#8221; has the meaning given in Section 2.1. </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white">2 4825-0005-3495, v. 4 &#8220;Borrower&#8221; is defined in the recitals. &#8220;Credit Agreement&#8221; is defined in the recitals. &#8220;Enforcement Costs&#8221; has the meaning given in Section 2.8. &#8220;Fraudulent Transfer Laws&#8221; has the meaning given in Section 2.2. &#8220;Guaranteed Obligations&#8221; has the meaning given in Section 2.1. &#8220;Guarantor&#8221; is defined in the preamble. &#8220;Guaranty&#8221; is defined in the preamble. &#8220;Lenders&#8221; is defined in the recitals. &#8220;Loan Party&#8221; means Borrower, Borrower Parent, Guarantor and any Obligee Guarantor that is party to the Loan Documents. &#8220;Obligations&#8221; has the meaning given in the Credit Agreement. &#8220;Obligee Guarantor&#8221; has the meaning given in Section 2.7. &#8220;Termination Date&#8221; means the date on which all Guaranteed Obligations have been paid in full. For the purposes of this definition, &#8220;paid in full&#8221; means the termination of all the Commitments, payment in full in cash, of all of the Obligations (other than any unasserted contingent reimbursement or indemnity obligations, and the payment in full in cash of all of the obligations due and payable under each of the Loan Documents. 1.2 Interpretation. (a) References to &#8220;Sections&#8221; shall be to Sections of this Guaranty unless otherwise specifically provided. (b) In the event of any conflict or inconsistency between the terms, conditions and provisions of this Guaranty and the terms, conditions and provisions of the Credit Agreement, the terms, conditions and provisions of this Guaranty shall prevail. (c) Unless otherwise defined herein or the context otherwise requires, terms used in this Guaranty, including its preamble and recitals, have the meanings provided in the Credit Agreement. (d) The rules of construction set forth in Sections 1.02 through 1.04 of the Credit Agreement, shall be applicable to this Guaranty mutatis mutandis. SECTION 2. THE GUARANTY 2.1 Guaranty of the Guaranteed Obligations. Subject to the provisions of Section 2.2, the Guarantors jointly and severally hereby irrevocably and unconditionally guaranty to the </FONT></DIV>
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