BoeingBoy
Veteran
- Nov 9, 2003
- 16,512
- 5,865
- Banned
- #16
"With the employee cost cuts there will likely be a larger fleet and more jobs."
Interesting take on things. On the other side, here's something from the new agreement with the ATSB....
This letter agreement (the “Agreementâ€) confirms the terms under which Phoenix American Financial Services, Inc., as Loan Administrator (the “Loan Administratorâ€) acting on behalf of and for the benefit of the Air Transportation Stabilization Board (the “ATSBâ€) and Bank of America, N.A., as Tranche B Lender (together with the ATSB, the “Creditorsâ€) has, under the terms of the Loan Agreement referred to below and pursuant to the written request to enter into this Agreement by the Creditors to the Loan Administrator dated as of the date hereof, engaged Lazard Freres & Co. LLC (the “Investment Bankerâ€) as its financial adviser with respect to a possible Restructuring (as defined below), a possible Business Combination (as defined below), and such other financial and investment banking matters related to the Company (as defined below) which the Loan Administrator, the Creditors and the Investment Banker may agree in writing during the term of this engagement.
For purposes of this Agreement, the term “Restructuring†shall mean any recapitalization, reorganization, refinancing or restructuring of all or a portion of the Company's existing debt or other obligations that is achieved, without limitation, through a solicitation of waivers and consents, rescheduling of maturities, change in interest rates, repurchase, settlement or forgiveness, modification or amendment of terms, conversion of debt into equity, an exchange offer or issuance of new securities, sale or disposition of assets, securities or other interests, or other similar transaction or series of transactions, or the sale by the Company of any of its assets.
For purposes of this Agreement, the term “Business Combination†shall mean any transaction or series of related transactions involving, directly or indirectly, (i) an acquisition, merger, consolidation, or other business combination pursuant to which the business or assets of the Company are sold or combined with another company or any of such company’s subsidiaries, (ii) the acquisition by a buyer (which term shall include a “group†of persons as defined in Section 13(d) of the Securities Exchange Act of 1934, as amended), of equity interests or options, or any combination thereof constituting a controlling interest in the then outstanding stock of the Company or possessing a controlling interest in the then outstanding voting power of the Company, (iii) any other purchase or acquisition by a third party of all or a significant portion of the assets of the Company; or (iv) the formation of a joint venture or partnership by the Company with a third party or an investment by a third party in the Company that has the effect of transferring a controlling or significant minority interest in the Company to such third party.
Jim
Interesting take on things. On the other side, here's something from the new agreement with the ATSB....
This letter agreement (the “Agreementâ€) confirms the terms under which Phoenix American Financial Services, Inc., as Loan Administrator (the “Loan Administratorâ€) acting on behalf of and for the benefit of the Air Transportation Stabilization Board (the “ATSBâ€) and Bank of America, N.A., as Tranche B Lender (together with the ATSB, the “Creditorsâ€) has, under the terms of the Loan Agreement referred to below and pursuant to the written request to enter into this Agreement by the Creditors to the Loan Administrator dated as of the date hereof, engaged Lazard Freres & Co. LLC (the “Investment Bankerâ€) as its financial adviser with respect to a possible Restructuring (as defined below), a possible Business Combination (as defined below), and such other financial and investment banking matters related to the Company (as defined below) which the Loan Administrator, the Creditors and the Investment Banker may agree in writing during the term of this engagement.
For purposes of this Agreement, the term “Restructuring†shall mean any recapitalization, reorganization, refinancing or restructuring of all or a portion of the Company's existing debt or other obligations that is achieved, without limitation, through a solicitation of waivers and consents, rescheduling of maturities, change in interest rates, repurchase, settlement or forgiveness, modification or amendment of terms, conversion of debt into equity, an exchange offer or issuance of new securities, sale or disposition of assets, securities or other interests, or other similar transaction or series of transactions, or the sale by the Company of any of its assets.
For purposes of this Agreement, the term “Business Combination†shall mean any transaction or series of related transactions involving, directly or indirectly, (i) an acquisition, merger, consolidation, or other business combination pursuant to which the business or assets of the Company are sold or combined with another company or any of such company’s subsidiaries, (ii) the acquisition by a buyer (which term shall include a “group†of persons as defined in Section 13(d) of the Securities Exchange Act of 1934, as amended), of equity interests or options, or any combination thereof constituting a controlling interest in the then outstanding stock of the Company or possessing a controlling interest in the then outstanding voting power of the Company, (iii) any other purchase or acquisition by a third party of all or a significant portion of the assets of the Company; or (iv) the formation of a joint venture or partnership by the Company with a third party or an investment by a third party in the Company that has the effect of transferring a controlling or significant minority interest in the Company to such third party.
Jim
