|
|
|
|
Document Preview Intercreditor Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Intercreditor Agreement |
|||
|
Entities: |
American International Group Inc.; McGraw-Hill Companies Inc.; Wilmington Trust Co.; ATA Holdings Corp. |
|||
|
Date: |
2002 |
|||
|
Size: |
Preview shows 16KB of 184KB total |
|||
|
Price: |
$69 |
|||
|
ID: |
#137369 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
INTERCREDITOR AGREEMENT
Dated as of
March 28, 2002
AMONG
WILMINGTON TRUST COMPANY,
not in its individual capacity
but solely as Trustee under the
American Trans Air 2002-1A Pass Through Trust
and
American Trans Air 2002-1B Pass Through Trust,
AIG MATCHED FUNDING CORP.
as Class A Liquidity Provider
and Class B Liquidity Provider,
AND
WILMINGTON TRUST COMPANY,
not in its individual capacity except
as expressly set forth herein but
solely as Subordination Agent and Trustee
{PAGE}
TABLE OF CONTENTS
-----------------
{TABLE}
{CAPTION}
Page
----
{S} {C}
ARTICLE I DEFINITIONS............................................................................................2
ARTICLE II TRUST ACCOUNTS; CONTROLLING PARTY....................................................................20
SECTION 2.1 Agreement to Terms of Subordination; Payments from Monies Received Only....................20
SECTION 2.2 Trust Accounts.............................................................................21
SECTION 2.3 Deposits to the Collection Account and Special Payments Account............................22
SECTION 2.4 Distributions of Special Payments..........................................................22
SECTION 2.5 Designated Representatives.................................................................25
SECTION 2.6 Controlling Party..........................................................................26
ARTICLE III RECEIPT, DISTRIBUTION AND APPLICATION OF............................................................27
SECTION 3.1. Written Notice of Distribution............................................................27
SECTION 3.2. Distribution of Amounts on Deposit in the Collection Account..............................29
SECTION 3.3. Distribution of Amounts on Deposit Following a Triggering Event...........................31
SECTION 3.4 Other Payments.............................................................................33
SECTION 3.5. Payments to the Trustees and the Liquidity Providers......................................33
SECTION 3.6. Liquidity Facilities......................................................................33
ARTICLE IV EXERCISE OF REMEDIES.................................................................................39
SECTION 4.1. Directions from the Controlling Party.....................................................39
SECTION 4.2. Remedies Cumulative.......................................................................40
SECTION 4.3. Discontinuance of Proceedings.............................................................40
SECTION 4.4. Right of Certificateholders to Receive Payments Not to Be Impaired........................41
SECTION 4.5. Undertaking for Costs.....................................................................41
ARTICLE V DUTIES OF THE SUBORDINATION AGENT; AGREEMENTS OF TRUSTEES, ETC........................................41
SECTION 5.1. Notice of Indenture Default or Triggering Event...........................................41
SECTION 5.2. Indemnification...........................................................................42
SECTION 5.3. No Duties Except as Specified in Intercreditor Agreement..................................42
SECTION 5.4. Notice from the Liquidity Providers and Trustees..........................................42
ARTICLE VI THE SUBORDINATION AGENT..............................................................................43
SECTION 6.1. Authorization; Acceptance of Trusts and Duties............................................43
SECTION 6.2. Absence of Duties.........................................................................43
SECTION 6.3. No Representations or Warranties as to Documents..........................................43
SECTION 6.4. No Segregation of Monies; No Interest.....................................................43
SECTION 6.5. Reliance; Agents; Advice of Counsel.......................................................44
{/TABLE}
i
{PAGE}
{TABLE}
{CAPTION}
Page
----
{S} {C}
SECTION 6.6. Capacity in Which Acting..................................................................44
SECTION 6.7. Compensation..............................................................................44
SECTION 6.8. May Become Certificateholder..............................................................45
SECTION 6.9. Subordination Agent Required; Eligibility.................................................45
SECTION 6.10. Money to Be Held in Trust................................................................45
ARTICLE VII INDEMNIFICATION OF SUBORDINATION AGENT..............................................................45
SECTION 7.1. Indemnification...........................................................................45
ARTICLE VIII SUCCESSOR SUBORDINATION AGENT......................................................................46
SECTION 8.1. Replacement of Subordination Agent; Appointment of Successor..............................46
ARTICLE IX SUPPLEMENTS AND AMENDMENTS...........................................................................47
SECTION 9.1. Amendments, Waivers, Etc..................................................................47
SECTION 9.2. Subordination Agent Protected.............................................................49
SECTION 9.3. Effect of Supplemental Agreements.........................................................49
SECTION 9.4. Notice to Rating Agency...................................................................50
ARTICLE X MISCELLANEOUS.........................................................................................50
SECTION 10.1. Termination of Intercreditor Agreement...................................................50
SECTION 10.2. Intercreditor Agreement for Benefit of Trustees, Liquidity Providers and
Subordination Agent................................................................50
SECTION 10.3. Notices..................................................................................50
SECTION 10.4. Severability.............................................................................51
SECTION 10.5. No Oral Modifications or Continuing Waivers..............................................52
SECTION 10.6. Successors and Assigns...................................................................52
SECTION 10.7. Headings.................................................................................52
SECTION 10.8. Counterpart Form.........................................................................52
SECTION 10.9. Subordination............................................................................52
SECTION 10.10. GOVERNING LAW...........................................................................54
SECTION 10.11. Submission to Jurisdiction; Waiver of Jury Trial........................................54
SECTION 10.12. Transfer................................................................................54
SECTION 10.13. Subordination Agent's Liability.........................................................55
{/TABLE}
ii
{PAGE}
INTERCREDITOR AGREEMENT
-----------------------
INTERCREDITOR AGREEMENT dated as of March 28, 2002, among WILMINGTON
TRUST COMPANY, a Delaware banking corporation ("WTC"), not in its individual
capacity but solely as Trustee of each Trust (each as defined below), AIG
Matched Funding Corp., a Delaware corporation, as Class A Liquidity Provider and
Class B Liquidity Provider, and WTC, not in its individual capacity except as
expressly set forth herein, but solely as Subordination Agent and trustee
hereunder (in such capacity, together with any successor appointed pursuant to
Article VIII hereof, the "Subordination Agent").
WHEREAS, all capitalized terms used herein shall have the respective
meanings referred to in Article I hereof;
WHEREAS, pursuant to each Indenture (i) in the case of each Aircraft
that is owned by ATA at the time such Indenture is entered into (the "Owned
Aircraft"), ATA will issue on a recourse basis two series of Equipment Notes to
finance the purchase of such Aircraft and (ii) in the case of each Aircraft that
is leased to ATA pursuant to a related Lease at the time such Indenture is
entered into (the "Leased Aircraft"), the related Owner Trustee will issue on a
nonrecourse basis two series of Equipment Notes to finance the purchase of such
Aircraft;
WHEREAS, pursuant to the Financing Agreements, each Trust will acquire
Equipment Notes having an interest rate equal to the interest rate applicable to
the Certificates to be issued by such Trust;
WHEREAS, pursuant to each Trust Agreement, the Trust created thereby
proposes to issue a single class of Certificates (a "Class") bearing the
interest rate and having the final distribution date described in such Trust
Agreement on the terms and subject to the conditions set forth therein;
WHEREAS, the Company and Amtran have entered into two Certificate
Purchase Agreements (together, as amended, supplemented or otherwise modified in
accordance with their terms, the "Certificate Purchase Agreements"), each dated
as of March 26, 2002 with Nyala Funding LLC (the "Class A Purchaser") and PK
AirFinance US, Inc. (the "Class B Purchaser"), respectively, providing for the
purchase of the Class A Certificates and the Class B Certificates, respectively;
WHEREAS, the Company, Amtran, the Trustee, the Subordination Agent, the
Escrow Agent, the Liquidity Provider, the Paying Agent, the Class A Purchaser
and the Class B Purchaser concurrently herewith are entering into a Delayed
Funding Implementation Agreement, dated as of the date hereof (the "Delayed
Funding Implementation Agreement"), pursuant to which the parties thereto agree
to supplement and modify the Operative Agreements, as defined therein;
WHEREAS, the initial Liquidity Provider proposes to enter into the
Class A Liquidity Facility and the Class B Liquidity Facility with the
Subordination Agent, as agent for the respective Trustee of each of the two
Trusts, for the benefit of the Certificateholders of such Trust;
{PAGE}
2
WHEREAS, American International Group, Inc. will guarantee, pursuant to
two separate guarantee agreements dated as of the date hereof (each, a
"Guarantee Agreement") the payment obligations of AIG-MF under the Class A
Liquidity Facility and the Class B Liquidity Facility, respectively;
WHEREAS, it is a condition precedent to the purchase of the Class A
Certificates by the Class A Purchaser and of the Class B Certificates by the
Class B Purchaser that the Subordination Agent, the Trustees, and the Liquidity
Providers agree to the terms of subordination set forth in this Agreement in
respect of each Class of Certificates, and the Subordination Agent, the Trustees
and the Liquidity Providers, by entering into this Agreement, hereby acknowledge
and agree to such terms of subordination and the other provisions of this
Agreement.
NOW, THEREFORE, in consideration of the mutual agreements herein
contained, and of other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto agree as follows:
ARTICLE I
DEFINITIONS
For all purposes of this Agreement, except as otherwise expressly
provided or unless the context otherwise requires:
(1) the terms used herein that are defined in this Article have the
meanings assigned to them in this Article, and include the plural as well
as the singular;
(2) all references in this Agreement to designated "Articles",
"Sections" and other subdivisions are to the designated Articles, Sections
and other subdivisions of this Agreement;
(3) the words "herein", "hereof" and "hereunder" and other words of
similar import refer to this Agreement as a whole and not to any particular
Article, Section or other subdivision; and
(4) the term "including" shall mean "including without limitation".
"Acceleration" means, with respect to the amounts payable in respect of
the Equipment Notes issued under any Indenture, such amounts becoming
immediately due and payable by declaration or otherwise. "Accelerate",
|
End of Preview |
Home Intelligence Services Subscriptions News About Us