Execution Version LOAN and GUARANTEE AGREEMENT Dated As of November 6, 2020 Among REPUBLIC AIRWAYS INC., As Borrower, the Guaran
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Execution Version LOAN AND GUARANTEE AGREEMENT dated as of November 6, 2020 among REPUBLIC AIRWAYS INC., as Borrower, the Guarantors party hereto from time to time, THE UNITED STATES DEPARTMENT OF THE TREASURY, and THE BANK OF NEW YORK MELLON, as Administrative Agent and Collateral Agent __________ TABLE OF CONTENTS Page ARTICLE I DEFINITIONS SECTION 1.01 Defined Terms ............................................................................................. 1 SECTION 1.02 Terms Generally......................................................................................... 31 SECTION 1.03 Accounting Terms; Changes in GAAP ........................................................... 31 SECTION 1.04 Rates ........................................................................................................ 32 SECTION 1.05 Divisions................................................................................................... 32 ARTICLE II COMMITMENTS AND BORROWINGS SECTION 2.01 Commitment.............................................................................................. 32 SECTION 2.02 Loans and Borrowings................................................................................. 32 SECTION 2.03 Borrowing Requests.................................................................................... 33 SECTION 2.04 [Reserved] ................................................................................................. 33 SECTION 2.05 [Reserved] ................................................................................................. 33 SECTION 2.06 Prepayments .............................................................................................. 33 SECTION 2.07 Reduction and Termination of Commitments .................................................. 34 SECTION 2.08 Repayment of Loans ................................................................................... 34 SECTION 2.09 Interest...................................................................................................... 34 SECTION 2.10 Benchmark Replacement Setting................................................................... 35 SECTION 2.11 Evidence of Debt ........................................................................................ 36 SECTION 2.12 Payments Generally .................................................................................... 37 SECTION 2.13 Sharing of Payments ................................................................................... 38 SECTION 2.14 Compensation for Losses ............................................................................. 38 SECTION 2.15 Increased Costs .......................................................................................... 39 SECTION 2.16 Taxes........................................................................................................ 40 SECTION 2.17 [Reserved] ................................................................................................. 43 SECTION 2.18 [Reserved] ................................................................................................. 43 SECTION 2.19 Mitigation Obligations; Replacement of Lenders ............................................. 43 ARTICLE III REPRESENTATIONS AND WARRANTIES SECTION 3.01 Existence, Qualification and Power ............................................................... 44 SECTION 3.02 Authorization; No Contravention .................................................................. 45 SECTION 3.03 Governmental Authorization; Other Consents ................................................. 45 SECTION 3.04 Execution and Delivery; Binding Effect ......................................................... 45 SECTION 3.05 Financial Statements; No Material Adverse Change ......................................... 45 SECTION 3.06 Litigation .................................................................................................. 45 SECTION 3.07 Contractual Obligations; No Default .............................................................. 45 SECTION 3.08 Property .................................................................................................... 46 SECTION 3.09 Taxes........................................................................................................ 46 i SECTION 3.10 Disclosure ................................................................................................. 46 SECTION 3.11 Compliance with Laws ................................................................................ 46 SECTION 3.12 ERISA Compliance .................................................................................... 46 SECTION 3.13 Environmental Matters ................................................................................ 47 SECTION 3.14 Investment Company Act............................................................................. 48 SECTION 3.15 Sanctions; Export Controls; Anti-Corruption; AML Laws................................. 48 SECTION 3.16 Solvency ................................................................................................... 48 SECTION 3.17 Subsidiaries ............................................................................................... 48 SECTION 3.18 Senior Indebtedness .................................................................................... 48 SECTION 3.19 Insurance Matters ....................................................................................... 48 SECTION 3.20 Labor Matters ............................................................................................ 48 SECTION 3.21 Insolvency Proceedings ............................................................................... 49 SECTION 3.22 Margin Regulations .................................................................................... 49 SECTION 3.23 Liens ........................................................................................................ 49 SECTION 3.24 Perfected Security Interests .......................................................................... 49 SECTION 3.25 US Citizenship ........................................................................................... 49 SECTION 3.26 Eligible Business Status............................................................................... 49 ARTICLE IV CONDITIONS SECTION 4.01 Closing Date Conditions .............................................................................. 50 SECTION 4.02 Additional Borrowing Conditions for First Borrowing...................................... 52 SECTION 4.03 Additional Borrowing Conditions for Second Borrowing .................................. 54 ARTICLE V AFFIRMATIVE COVENANTS SECTION 5.01 Financial Statements ................................................................................... 55 SECTION 5.02 Certificates; Other Information ..................................................................... 56 SECTION 5.03 Notices ..................................................................................................... 57 SECTION 5.04 Preservation of Existence, Etc....................................................................... 58 SECTION 5.05 Maintenance of Properties............................................................................ 58 SECTION 5.06 Maintenance of Insurance ............................................................................ 58 SECTION 5.07 Payment of Obligations ............................................................................... 58 SECTION 5.08 Compliance with Laws ................................................................................ 58 SECTION 5.09 Environmental Matters ................................................................................ 58 SECTION 5.10 Books and Records ..................................................................................... 58 SECTION 5.11 Inspection Rights........................................................................................ 59 SECTION 5.12 Sanctions; Export Controls; Anti-Corruption Laws and AML Laws.................... 59 SECTION 5.13 Guarantors; Additional Collateral.................................................................. 59 SECTION 5.14 Post-Closing Matters ................................................................................... 60 SECTION 5.15 Further Assurances ..................................................................................... 60 SECTION 5.16 Delivery of Appraisals and Valuation Certificates............................................ 60 SECTION 5.17 Ratings ..................................................................................................... 61 SECTION 5.18 Regulatory Matters ..................................................................................... 61 SECTION 5.19 Eligible Receivables.................................................................................... 61 ii ARTICLE VI NEGATIVE COVENANTS SECTION 6.01 [Reserved] ................................................................................................. 62 SECTION 6.02 Liens ........................................................................................................ 62 SECTION 6.03 Fundamental Changes ................................................................................. 62 SECTION 6.04 Dispositions............................................................................................... 62 SECTION 6.05 Restricted