Bank Services, primarily consisting of cancelled check delivery, generated approximately 65%, 68% and 68% of AirNets total net revenues for the fiscal years ended December 31, 2006, 2005 and 2004, respectively. AirNets time-critical cancelled check delivery service allows its banking customers to reduce their float costs and related processing fees. AirNet also transports other items, such as proof of deposit transactions and interoffice mail, for many of the same bank customers. The U.S. banking industry, including commercial banks and third-party processors, represents AirNets largest category of customers. AirNets bank customers represent many of the nations largest bank holding companies

EX-4.52 4 l25426aexv4w52.htm EX-4.52 EX-4.52
 

EXHIBIT 4.52
[AirNet Systems, Inc. Letterhead]
March 30, 2007
Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549
         
 
  Re:   AirNet Systems, Inc. – Annual Report on Form 10-K for the fiscal year ended December 31, 2006
Ladies and Gentlemen:
AirNet Systems, Inc., an Ohio corporation (“AirNet”), is today filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2006 (the “Form 10-K”).
Pursuant to the provisions of Item 601(b)(4)(iii) of Regulation S-K, AirNet hereby agrees to furnish to the Commission, upon request, copies of those instruments and agreements defining the rights of holders of long-term debt of AirNet and of holders of long-term debt of AirNet’s consolidated subsidiaries, which are not being filed as exhibits to the Form 10-K. Such long-term debt does not exceed 10% of the total assets of AirNet and its subsidiaries on a consolidated basis.
Very truly yours,
AIRNET SYSTEMS, INC.
/s/ Gary W. Qualmann
Gary W. Qualmann
Chief Financial Officer, Treasurer and Secretary