Additional Covenants

Example Definitions of "Additional Covenants"
Additional Covenants. Section 4.29 Additional Covenants. (a) During the period from September 14, 2011 through March 31, 2012, without the consent of the holders of a majority in principal amount of the Notes outstanding, Issuers shall not directly or indirectly, or direct any of their Subsidiaries to, make any payment (other than their own fees and expenses) in respect of, any material litigation pending against any of the Issuers. (b) During the period from September 14, 2011 through... March 31, 2012, Parent shall not pay, nor cause any Subsidiary to pay, any amount in respect of any Permitted Second Lien Refinance Indebtedness, provided however, that Parent is 2 permitted to make payment of accrued interest on Permitted Second Lien Refinance Indebtedness by capitalizing such interest and adding it to the aggregate principal amount of Permitted Second Lien Refinance Indebtedness and to make payment of fees and expenses of counsel and the administrative agent and expenses of the lenders. (c) During the period from September 14, 2011 through March 31, 2012, without the consent of the holders of a majority in principal amount of the Notes outstanding, Issuers shall not directly or indirectly, or direct any of their Subsidiaries to, settle, compromise, modify, consent or otherwise resolve or terminate any material litigation with respect to which the Issuers are to receive any material financial benefits. (d) No later than October 15, 2011, Parent shall demonstrate to the reasonable satisfaction of the holders of a majority in principal amount of Notes outstanding that it has achieved a reduction (not including any reduction by virtue of any aircraft returned to the relevant lessor) resulting in annual aircraft lease expense by restructuring above-market leases to rates resulting in aggregate annualized cost reductions of at least $18 million for each of calendar years 2012 and 2013 compared to current costs for such leases. (e) No later than March 31, 2012, Issuers shall demonstrate to the reasonable satisfaction of the holders of a majority in principal amount of the Notes outstanding that Issuers expect to be in compliance with Section 4.19 of the Indenture for the reporting period ending March 31, 2012. (f) During the period from September 14, 2011 through March 31, 2012, Issuers shall not enter into any waiver or amendment with respect to the Second Lien Credit Agreement or the Second Priority Claims other than as provided in Article Four (b) hereof, without the prior written consent of the holders of a majority in principal amount of Notes outstanding, which consent shall not be unreasonably withheld or delayed. View More Arrow
All Definitions