1 unchanged sentence
(a) Other Information
−Removed: 10.1 Acceptance Certificate, dated April 20, 2022 with respect to Engines CFM56-5B3/2P Serial numbers 779999 and 779969 , incorporated by reference to Exhibit 10 .1 to the Company's Current Report on Form 8-K dated April 21 , 202 2 (Commission file No.
−Removed: 10.2 Bills of Sale, dated April 20, 2022 with respect to Engines CFM56-5B3/2P Serial numbers 779999 and 779969 , incorporated by reference to Exhibit 10.
−Removed: 2 to the Company's Current Report on Form 8-K dated April 21, 2022 (Commission file No.
−Removed: 10.3 Acceptance Certificate, dated April 13, 2022 with respect to Engines CFM56-5B3/2P Serial numbers 779476 and 779945, incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K dated April 28, 2022 (Commission file No.
−Removed: 10.4 Bills of Sale, dated April 13, 2022 with respect to Engines CFM56-5B3/2P Serial numbers 779476 and 779945, incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K dated April 28, 2022 (Commission file No.
−Removed: 10.5 Amendment No.
−Removed: 1 to Third Amended and Restated Credit Agreement by and between Air T, Inc, Jet Yard, LLC and Minnesota Bank & Trust dated June 9, 2022, incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K dated June 14, 2022 (Commission file No.
−Removed: 10.6 Form of Overline Promissory Note dated June 9, 2022, incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K dated June 14, 2022 (Commission file No.
−Removed: 10.7 Guarantee Acknowledgment dated June 9, 2022, incorporated by reference to Exhibit 10.3 to the Company's Current Report on Form 8-K dated June 14, 2022 (Commission file No.
+Added: Item 1.01 Entry into a Material Definitive Agreement
+Added: On November 8, 2022, Contrail entered into the Second Amendment to Master Loan Agreement with ONB.
+Added: The Amendment amends the Master Loan Agreement dated as of June 24, 2019, as amended.
+Added: The principal revisions made in the Amendment are:
+Added: (i) the tangible net worth covenant was revised to require that Contrail maintain a tangible net worth of at least $12.0 million at all times prior to March 31, 2024 and $15.0 million at all times on or following March 31, 2024;
+Added: and, (ii) that all proceeds from certain asset sales during the period beginning on October 1, 2022 and ending on March 31, 2023 be applied as prepayments on Term Loan G.
+Added: The effectiveness of the Amendment is conditioned on Contrail executing a Collateral Assignment of two Aircraft Engine Lease Agreements.
+Added: The form of Collateral Assignment is attached as an exhibit to the Amendment.
+Added: The foregoing summary of the terms of the Amendment is qualified in its entirety by reference to the form of Second Amendment to Master Loan Agreement with Exhibit filed as Exhibit 10.2 herewith, which is incorporated herein by reference.
+Added: Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
+Added: To the extent required by Item 2.03 of Form 8-K, the information contained in Item 1.01 is incorporated by reference into this Item 2.03.
+Added: 10.1 Form Promissory Note dated September 30, 2022, incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on October 4, 2022 (Commission file No.
+Added: 10.2 Second Amendment to Master Loan Agreement, dated November 10,2022 between Contrail Aviation Support, LLC and Contrail Aviation Leasing, LLC and Old National Bank.
31.1 Section 302 Certification of Chief Executive Officer and President
1 unchanged sentence
32.1 Section 1350 Certifications
−Removed: 101 The following financial information from the Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, formatted in XBRL (Extensible Business Reporting Language):
+Added: 101 The following financial information from the Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, formatted in XBRL (Extensible Business Reporting Language):
(i) Condensed Consolidated Statements of Income, (ii) the Condensed Consolidated Balance Sheets, (iii) the Condensed Consolidated Statements of Cash Flows, (iv) the Condensed Consolidated Statements of Stockholders Equity, and (v) the Notes to the Condensed Consolidated Financial Statements.
1 unchanged sentence
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
−Removed: August 12, 2022
+Added: November 10, 2022
/s/ Nick Swenson
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.