Exhibit 10.11

Execution Version

COMMITMENT INCREASE SUPPLEMENT

 

SUPPLEMENT, dated as of May 27, 2016, to the Second Amended and Restated Credit
Agreement, dated as of May 5, 2014, as amended by the First Amendment dated as
of June 1, 2015, by the Second Amendment dated as of the May 27, 2016 and as
further amended, supplemented or otherwise modified from time to time (the
“Credit Agreement”) among AIR LEASE CORPORATION, a Delaware corporation (the
“Borrower”), the several banks and other financial institutions or entities from
time to time parties thereto (the “Lenders”), and JPMORGAN CHASE BANK, N.A., as
administrative agent (the “Administrative Agent”).

 

W I T N E S S E T H:

 

WHEREAS, the Credit Agreement provides in Section 2.1(d) thereof that any Lender
may increase its Commitment under the Credit Agreement with the consent of the
Borrower and the Administrative Agent by executing and delivering to the
Borrower and the Administrative Agent a supplement to the Credit Agreement in
substantially the form of this Supplement; and

 

WHEREAS, each of the undersigned now desires to increase its Commitment under
the Credit Agreement;

 

NOW, THEREFORE, each of the undersigned hereby agrees as follows:

 

1.         Each of the undersigned agrees that, on the date this Supplement is
accepted by the Borrower and the Administrative Agent (or on such other date as
may be agreed upon among the undersigned, the Borrower and the Administrative
Agent), its Commitment shall be increased as specified on Annex A hereto.

 

2.         Each of the undersigned hereby confirms and agrees that the
Termination Date in respect of its Commitment is May 5, 2020.

 

3.         Terms defined in the Credit Agreement shall have their defined
meanings when used herein.

 

[Remainder of page left blank intentionally.]

 

 

--------------------------------------------------------------------------------

 

 

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed
and delivered by a duly authorized officer on the date first above written.

 

 

 

 

 

 

 

    

Bank of America, N.A.

 

 

 

 

 

 

 

 

By:

/s/ William Soo

 

 

 

Name: William Soo

 

 

 

Title: Director

 

 

[Signature Page to Commitment Increase Supplement]

--------------------------------------------------------------------------------

 

 

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed
and delivered by a duly authorized officer on the date first above written.

 

 

 

    

Citibank, N.A.

 

 

 

 

 

 

 

 

By:

/s/ Joseph Shanahan

 

 

 

Name: Joseph Shanahan

 

 

 

Title: Vice President

 

 

[Signature Page to Commitment Increase Supplement]

--------------------------------------------------------------------------------

 

 

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed
and delivered by a duly authorized officer on the date first above written.

 

 

 

    

BMO Harris Bank N.A, as a Lender

 

 

 

 

 

 

 

 

By:

/s/ Dan Ryan

 

 

 

Name: Dan Ryan

 

 

 

Title: Vice President

 

 

[Signature Page to Commitment Increase Supplement]

--------------------------------------------------------------------------------

 

 

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed
and delivered by a duly authorized officer on the date first above written.

 

 

 

    

BNP Paribas

 

 

 

 

 

 

 

 

By:

/s/ Robert Papas

 

 

 

Name: Robert Papas

 

 

 

Title: Director - Transportation Group-

 

 

 

Aviation Finance

 

 

 

 

 

 

 

 

By:

/s/ Eric Chilton

 

 

 

Name: Eric Chilton

 

 

 

Title: Managing Director

 

 

[Signature Page to Commitment Increase Supplement]

--------------------------------------------------------------------------------

 

 

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed
and delivered by a duly authorized officer on the date first above written.

 

 

 

    

Bank of the West, as Lender

 

 

 

 

 

 

 

 

By:

/s/ Camille Farnsworth-Schrader

 

 

 

Name: Camille Farnsworth-Schrader

 

 

 

Title: Vice President

 

 

 

 

 

 

 

 

By:

/s/ David G. Kronen

 

 

 

Name: David G. Kronen

 

 

 

Title: Director

 

 

[Signature Page to Commitment Increase Supplement]

--------------------------------------------------------------------------------

 

 

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed
and delivered by a duly authorized officer on the date first above written.

 

 

 

    

Industrial and Commercial Bank of China Limited,

 

 

New York Branch

 

 

 

 

 

 

 

 

By:

/s/ Jeffrey Roth

 

 

 

Name:

Jeffrey Roth

 

 

 

Title:

Director

 

 

 

 

 

 

 

 

By:

/s/ Shulin Peng

 

 

 

Name:

Shulin Peng

 

 

 

Title:

Managing Director

 

 

[Signature Page to Commitment Increase Supplement]

--------------------------------------------------------------------------------

 

 

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed
and delivered by a duly authorized officer on the date first above written.

 

 

 

    

CITIZENS BANK, NATIONAL ASSOCIATION,

 

 

as a Lender

 

 

 

 

 

 

 

 

By:

/s/ Darran Wee

 

 

 

Name:

DARRAN WEE

 

 

 

Title:

SENIOR VICE PRESIDENT

 

 

[Signature Page to Commitment Increase Supplement]

--------------------------------------------------------------------------------

 

 

Accepted this 27th day of
May, 2016

 

 

 

 

 

 

 

AIR LEASE CORPORATION

    

 

 

 

 

 

 

 

By:

/s/ Gregory B. Willis

 

 

 

Name: Gregory B. Willis

 

 

 

Title:   Senior Vice President &

 

 

 

Chief Financial Officer

 

 

 

 

[Signature Page to Commitment Increase Supplement]

--------------------------------------------------------------------------------

 

 

Accepted this 27th day of
May, 2016

 

 

 

 

 

JPMORGAN CHASE BANK, N.A., as Administrative Agent

    

 

 

 

 

 

 

 

By:

/s/ Gene Riego De Dios

 

 

 

Name: Gene Riego De Dios

 

 

 

Title:   Vice President

 

 

 

 

[Signature Page to Commitment Increase Supplement]

--------------------------------------------------------------------------------

 

 

Annex A

 

Increase in Commitments

 

Lender

    

Existing
Commitment

    

Amount of
Commitment Increase

    

New Total
Commitment

Bank of America, N.A.

 

$

150,000,000 

 

$

25,000,000 

 

$

175,000,000 

 

 

 

 

 

 

 

 

 

 

Citibank, N.A.

 

$

125,000,000 

 

$

50,000,000 

 

$

175,000,000 

 

 

 

 

 

 

 

 

 

 

BMO Harris Bank, N.A.

 

$

125,000,000 

 

$

25,000,000 

 

$

150,000,000 

 

 

 

 

 

 

 

 

 

 

Industrial and Commercial Bank of China Limited, New York Branch

 

$

40,000,000 

 

$

85,000,000 

 

$

125,000,000 

 

 

 

 

 

 

 

 

 

 

BNP Paribas

 

$

75,000,000 

 

$

15,000,000 

 

$

90,000,000 

 

 

 

 

 

 

 

 

 

 

Bank of the West

 

$

50,000,000 

 

$

10,000,000 

 

$

60,000,000 

 

 

 

 

 

 

 

 

 

 

Citizens Bank, N.A.

 

$

30,000,000 

 

$

10,000,000 

 

$

40,000,000 

 

 

 

 

 

 

 

 

 

 

Total:

 

$

595,000,000 

 

$

220,000,000 

 

$

815,000,000 

 

 

--------------------------------------------------------------------------------