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AYR » Topics » General Risks

These excerpts taken from the AYR 10-K filed Mar 2, 2009.
General Risks 
 
Our indebtedness subjects us to certain risks, including:
 
  •   substantially all of our aircraft leases serve as collateral for our secured indebtedness and the terms of certain of our indebtedness require us to use proceeds from sales of aircraft, in part, to repay amounts outstanding under such indebtedness;
 
  •   we may be required to dedicate a substantial portion of our cash flows from operations, if available, to debt service payments, thereby reducing the amount of our cash flow available to pay dividends, fund working capital, make capital expenditures and satisfy other needs;
 
  •   our failure to comply with the terms of our indebtedness, including restrictive covenants contained therein, may result in additional interest being due or defaults that could result in the acceleration of the principal, and unpaid interest on, the defaulted debt, as well as the forfeiture of the aircraft pledged as collateral; and
 
  •   non-compliance with loan to value ratios, interest coverage or debt service coverage ratios, or other financial tests, would limit or eliminate available cash flows from the assets financed under the relevant financing.
 
General
Risks 


 



Our indebtedness subjects us to certain risks, including:


 














































  •  
substantially all of our aircraft leases serve as collateral for
our secured indebtedness and the terms of certain of our
indebtedness require us to use proceeds from sales of aircraft,
in part, to repay amounts outstanding under such indebtedness;
 
  •  
we may be required to dedicate a substantial portion of our cash
flows from operations, if available, to debt service payments,
thereby reducing the amount of our cash flow available to pay
dividends, fund working capital, make capital expenditures and
satisfy other needs;
 
  •  
our failure to comply with the terms of our indebtedness,
including restrictive covenants contained therein, may result in
additional interest being due or defaults that could result in
the acceleration of the principal, and unpaid interest on, the
defaulted debt, as well as the forfeiture of the aircraft
pledged as collateral; and
 
  •  
non-compliance with loan to value ratios, interest coverage or
debt service coverage ratios, or other financial tests, would
limit or eliminate available cash flows from the assets financed
under the relevant financing.


 




This excerpt taken from the AYR 10-Q filed Nov 17, 2008.
General Risks
 
Our indebtedness subjects us to certain risks, including:
 
  •   substantially all of our aircraft leases serve as collateral for our secured indebtedness and the terms of certain of our indebtedness require us to use proceeds from sales of aircraft, in part, to repay amounts outstanding under such indebtedness;
 
  •   we may be required to dedicate a substantial portion of our cash flows from operations, if available, to debt service payments, thereby reducing the amount of our cash flow available to pay dividends, fund working capital, make capital expenditures and satisfy other needs;
 
  •   our failure to comply with the terms of our indebtedness, including restrictive covenants contained therein, may result in additional interest being due or defaults that could result in the acceleration of the principal, and unpaid interest on, the defaulted debt, as well as the forfeiture of the aircraft pledged as collateral;
 
  •   non-compliance with loan to value ratios, interest coverage or debt service coverage ratios, or other financial tests, would limit or eliminate available cash flows from the assets financed under the relevant financing; and
 
  •   we are not permitted to pay dividends on our common shares to the extent a default or an event of default exists under the Revolving Credit Facility.


57

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EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 2, 2009
10-Q
Nov 17, 2008

RELATED TOPICS for AYR:

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