Exhibit 10.53

Execution Copy

FIFTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

THIS FIFTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”)
is entered into as of May 30, 2006 and amends in certain respects that Amended
and Restated Credit Agreement, dated as of June 29, 2004, by and among WILLIS
LEASE FINANCE CORPORATION, a Delaware corporation (the “Borrower”), each of the
financial institutions that is, or pursuant to the terms thereof may become, a
party as a Bank thereto (collectively, the “Banks”), NATIONAL CITY BANK, as
Administrative Agent for the Banks (the “Administrative Agent”), and FORTIS BANK
(NEDERLAND) N.V., as Structuring Agent and Security Agent for the Banks, as
amended by that certain First Amendment to Amended and Restated Credit
Agreement, dated as of September 24, 2004, that certain Second Amendment to
Amended and Restated Credit Agreement, dated as of December 9, 2004, that
certain Third Amendment to Amended and Restated Credit Agreement and Waiver,
dated as of November 11, 2005, and that certain Fourth Amendment to Amended and
Restated Credit Agreement, dated as of December 14, 2005 (as so amended, the
“Credit Agreement”).

W I T N E S S E T H:

WHEREAS, the Borrower has requested an extension of the Revolving Loan
Termination Date; and

WHEREAS, the Banks and the Agents are willing to agree to an extension of the
Revolving Loan Termination Date on and subject to the terms and conditions
hereinafter set forth;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto hereby agree as follows:

1.             DEFINED TERMS.  CAPITALIZED TERMS USED HEREIN AND NOT OTHERWISE
DEFINED HEREIN SHALL HAVE THE RESPECTIVE MEANINGS ASCRIBED TO THEM IN THE CREDIT
AGREEMENT.

2.             CREDIT AGREEMENT AMENDMENTS. THE BORROWER HEREBY AGREES, AND, IN
RELIANCE ON THE REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 3 HEREOF,
THE BANKS AND THE AGENTS HEREBY AGREE, EFFECTIVE AS OF THE DATE HEREOF, THAT THE
CREDIT AGREEMENT IS HEREBY AMENDED AS FOLLOWS:

(A)           SECTION 2.1(A) IS HEREBY AMENDED TO DELETE THE REFERENCE THEREIN
TO “MAY 31, 2006” AND TO SUBSTITUTE IN LIEU THEREOF “JUNE 30, 2006.”

3.             REPRESENTATIONS AND WARRANTIES.  THE BORROWER REPRESENTS AND
WARRANTS AS FOLLOWS:

(A)           THE MAKING AND PERFORMANCE OF THE AMENDMENT ARE WITHIN ITS POWER
AND AUTHORITY AND HAVE BEEN DULY AUTHORIZED BY ALL NECESSARY CORPORATE ACTION
AND DO NOT AND UNDER PRESENT LAW WILL NOT REQUIRE ANY CONSENT OR APPROVAL NOT
OBTAINED OF ANY OF ITS SHAREHOLDERS, OR ANY OTHER PERSON (INCLUDING, WITHOUT
LIMITATION, ANY GOVERNMENTAL AUTHORITY), DO NOT AND UNDER PRESENT LAW WILL NOT
VIOLATE ANY LAW, RULE, REGULATION, ORDER, WRIT, JUDGMENT, INJUNCTION, DECREE,
DETERMINATION OR AWARD, DO NOT VIOLATE ANY PROVISION OF ITS CHARTER OR BY-LAWS,
DO NOT AND WILL NOT RESULT IN ANY BREACH OF ANY MATERIAL AGREEMENT, LEASE OR
INSTRUMENT TO WHICH IT IS A PARTY, BY

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which it is bound or to which any of its assets are or may be subject, and do
not and will not give rise to any Lien upon any of its assets except the Lien in
favor of the Security Agent contemplated under the Loan Documents.  This
Amendment has been duly executed and delivered by the Borrower and constitutes
the legal, valid and binding obligation of the Borrower, enforceable against it
in accordance with its terms.

(B)           NO EVENT OF DEFAULT OR POTENTIAL DEFAULT HAS OCCURRED AND IS
CONTINUING, OR, AFTER GIVING EFFECT TO THIS AMENDMENT, SHALL EXIST.

(C)           ALL REPRESENTATIONS AND WARRANTIES SET FORTH IN THE LOAN DOCUMENTS
ARE TRUE AND CORRECT AS IF MADE ON AND AS OF THE DATE HEREOF, EXCEPT IN EACH
CASE FOR REPRESENTATIONS AND WARRANTIES WHICH BY THEIR TERMS ARE EXPRESSLY
APPLICABLE TO AN EARLIER DATE, IN WHICH EVENT SUCH REPRESENTATIONS AND
WARRANTIES SHALL BE TRUE AND CORRECT AS OF SUCH EARLIER DATE.

4.             LIMITATION OF AMENDMENT. THIS AMENDMENT SHALL BE LIMITED
PRECISELY AS WRITTEN AND SHALL NOT BE DEEMED (A) TO BE AN AMENDMENT, WAIVER OR
MODIFICATION OF ANY OTHER TERM OR CONDITION OF THE CREDIT AGREEMENT, ANY OTHER
LOAN DOCUMENT OR ANY OF THE INSTRUMENTS OR AGREEMENTS REFERRED TO IN ANY SUCH
DOCUMENT OR A WAIVER OF ANY EVENT OF DEFAULT OR POTENTIAL DEFAULT UNDER THE
CREDIT AGREEMENT, WHETHER OR NOT KNOWN TO THE AGENTS OR ANY OF THE BANKS OR
(B) TO PREJUDICE ANY OTHER RIGHT OR RIGHTS THAT THE AGENTS OR THE BANKS MAY NOW
OR IN THE FUTURE HAVE UNDER OR IN CONNECTION WITH THE CREDIT AGREEMENT, THE
NOTES, ANY OTHER LOAN DOCUMENT OR ANY OF THE INSTRUMENTS OR AGREEMENTS REFERRED
TO IN ANY SUCH DOCUMENT.

5.             REFERENCE TO AND EFFECT ON LOAN DOCUMENTS.  ON AND AFTER THE DATE
HEREOF, EACH REFERENCE IN THE CREDIT AGREEMENT TO “THIS AGREEMENT”, “HEREUNDER”,
“HEREOF”, “HEREIN” OR WORDS OF LIKE IMPORT, AND EACH REFERENCE IN THE OTHER LOAN
DOCUMENTS TO THE CREDIT AGREEMENT, SHALL MEAN AND BE A REFERENCE TO THE CREDIT
AGREEMENT AS AMENDED HEREBY.  THIS AMENDMENT SHALL CONSTITUTE A LOAN DOCUMENT
WITHIN THE DEFINITION THEREOF IN THE CREDIT AGREEMENT.

6.             REAFFIRMATION OF SECURITY INTEREST.  THE BORROWER HEREBY
REAFFIRMS AS OF THE DATE HEREOF EACH AND EVERY SECURITY INTEREST AND LIEN
GRANTED IN FAVOR OF THE SECURITY AGENT AND THE BANKS UNDER THE LOAN DOCUMENTS,
AND AGREES AND ACKNOWLEDGES THAT SUCH SECURITY INTERESTS AND LIENS SHALL
CONTINUE FROM AND AFTER THE DATE HEREOF AND SHALL REMAIN IN FULL FORCE AND
EFFECT FROM AND AFTER THE DATE HEREOF, IN EACH CASE AFTER GIVING EFFECT TO THE
CREDIT AGREEMENT AS AMENDED BY THIS AMENDMENT, AND THE OBLIGATIONS SECURED
THEREBY AND THEREUNDER SHALL INCLUDE THE BORROWER’S OBLIGATIONS UNDER THE CREDIT
AGREEMENT AS AMENDED BY THIS AMENDMENT.  EACH SUCH REAFFIRMED SECURITY INTEREST
AND LIEN REMAINS AND SHALL CONTINUE TO REMAIN IN FULL FORCE AND EFFECT AND IS
HEREBY IN ALL RESPECTS RATIFIED AND CONFIRMED.

7.             FURTHER ASSURANCES.  EACH OF THE PARTIES HERETO HEREBY AGREES, AT
THE SOLE COST AND EXPENSE OF THE BORROWER, TO DO SUCH FURTHER ACTS AND THINGS
AND TO EXECUTE, DELIVER AND ACKNOWLEDGE SUCH ADDITIONAL AGREEMENTS, POWERS AND
INSTRUMENTS AS ANY PARTY HERETO MAY REASONABLY REQUIRE TO CARRY INTO EFFECT THE
PURPOSES OF THIS AMENDMENT.

8.             COSTS AND EXPENSES.  THE BORROWER HEREBY AGREES TO PAY ALL COSTS
AND EXPENSES OF THE ADMINISTRATIVE AGENT (INCLUDING ATTORNEYS’ FEES AND
EXPENSES) INCURRED IN CONNECTION WITH THE NEGOTIATION, PREPARATION, EXECUTION
AND DELIVERY OF THIS AMENDMENT.

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9.             GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF CALIFORNIA,
WITHOUT REGARD TO CALIFORNIA OR FEDERAL PRINCIPLES OF CONFLICTS OF LAWS.

10.           SEVERABILITY.  THE INVALIDITY, ILLEGALITY OR UNENFORCEABILITY IN
ANY JURISDICTION OF ANY PROVISION IN OR OBLIGATION UNDER THIS AMENDMENT SHALL
NOT AFFECT OR IMPAIR THE VALIDITY, LEGALITY OR ENFORCEABILITY OF THE REMAINING
PROVISIONS OR OBLIGATIONS UNDER THIS AMENDMENT OR OF SUCH PROVISION OR
OBLIGATION IN ANY OTHER JURISDICTION.  TO THE EXTENT PERMITTED BY APPLICABLE
LAW, THE PARTIES HEREBY WAIVE ANY PROVISION OF LAW WHICH RENDERS ANY PROVISION
HEREOF PROHIBITED OR UNENFORCEABLE IN ANY RESPECT.

11.           COUNTERPARTS.  THIS AMENDMENT MAY BE EXECUTED IN TWO OR MORE
COUNTERPARTS (AND BY DIFFERENT PARTIES ON SEPARATE COUNTERPARTS), EACH OF WHICH
SHALL BE AN ORIGINAL, BUT ALL OF WHICH TOGETHER SHALL CONSTITUTE ONE AND THE
SAME INSTRUMENT.  EXECUTION AND DELIVERY OF THIS AMENDMENT BY FACSIMILE
TRANSMISSION SHALL CONSTITUTE EXECUTION AND DELIVERY OF THIS AMENDMENT FOR ALL
PURPOSES, WITH THE SAME FORCE AND EFFECT AS EXECUTION AND DELIVERY OF AN
ORIGINALLY MANUALLY SIGNED COPY THEREOF.  THIS AMENDMENT SHALL BE EFFECTIVE UPON
THE RECEIPT BY THE ADMINISTRATIVE AGENT OF COUNTERPARTS OF THIS AMENDMENT DULY
EXECUTED BY THE BORROWER, THE AGENTS AND EACH OF THE BANKS.

12.           HEADINGS; BINDING EFFECT.  THE HEADINGS OF THE SEVERAL SECTIONS OF
THIS AMENDMENT ARE INSERTED FOR CONVENIENCE ONLY AND SHALL NOT IN ANY WAY AFFECT
THE MEANING OR CONSTRUCTION OF ANY PROVISION OF THIS AMENDMENT.  THE PROVISIONS
OF THIS AMENDMENT SHALL INURE TO THE BENEFIT OF AND BE BINDING UPON THE PARTIES
HERETO AND THEIR RESPECTIVE PERMITTED SUCCESSORS AND ASSIGNS.

13.           CONSULTATION WITH ADVISORS.  THE BORROWER ACKNOWLEDGES THAT IT HAS
CONSULTED WITH COUNSEL AND WITH SUCH OTHER EXPERTS AND ADVISORS AS IT HAS DEEMED
NECESSARY IN CONNECTION WITH THE NEGOTIATION, EXECUTION AND DELIVERY OF THIS
AMENDMENT.  THIS AMENDMENT SHALL BE CONSTRUED WITHOUT REGARD TO ANY PRESUMPTION
OR ANY RULE REQUIRING THAT IT BE CONSTRUED AGAINST THE PARTY CAUSING THIS
AMENDMENT OR ANY PART HEREOF TO BE DRAFTED.

14.           ENTIRE AGREEMENT.  THIS AMENDMENT SETS FORTH THE ENTIRE
UNDERSTANDING AND AGREEMENT OF THE PARTIES HERETO IN RELATION TO THE SUBJECT
MATTER HEREOF AND SUPERSEDES ANY PRIOR NEGOTIATIONS AND AGREEMENTS AMONG THE
PARTIES RELATIVE TO SUCH SUBJECT MATTER.  NONE OF THE TERMS OR CONDITIONS OF
THIS AMENDMENT MAY BE CHANGED, MODIFIED, WAIVED OR CANCELED, ORALLY OR
OTHERWISE, EXCEPT AS PROVIDED IN THE CREDIT AGREEMENT.

[Remainder of page intentionally left blank; signatures on following pages]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed as of the date first above written.

BORROWER:

 

 

 

WILLIS LEASE FINANCE CORPORATION

 

 

 

 

 

By:

/S/

 

 

Name:

Robert M. Warwick

 

 

Title:

Executive Vice President and
Chief Financial Officer

 

Signature page 1 to
Willis Lease Finance Corporation
Fifth Amendment to Amended and Restated Credit Agreement

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AGENTS AND BANKS:

 

 

 

NATIONAL CITY BANK, as Administrative Agent

 

 

 

 

 

By:

/S/

 

 

Name:

Christos Kytzidis

 

 

Title:

 Senior Vice President

 

 

 

 

 

 

NATIONAL CITY BANK

 

 

 

 

 

By:

/S/

 

 

Name:

Christos Kytzidis

 

 

Title:

 Senior Vice President

 

Signature page 2 to
Willis Lease Finance Corporation
Fifth Amendment to Amended and Restated Credit Agreement

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FORTIS BANK (NEDERLAND) N.V., as Structuring Agent and Security Agent

 

 

 

 

 

By:

/S/

 

 

Name:

M. H. Schipper

 

 

Title:

Director

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/S/

 

 

Name:

J. F. G. M. Woflhagen

 

 

Title:

 

 

 

FORTIS BANK (NEDERLAND) N.V.

 

 

 

 

 

By:

/S/

 

 

Name:

M. H. Schipper

 

 

Title:

Director

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/S/

 

 

Name:

 

 

 

Title:

 

 

Signature page 3 to
Willis Lease Finance Corporation
Fifth Amendment to Amended and Restated Credit Agreement

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CALIFORNIA BANK & TRUST

 

 

 

 

 

By:

/S/

 

 

Name:

J. Michael Sullivan

 

 

Title:

Vice President

 

Signature page 4 to
Willis Lease Finance Corporation
Fifth Amendment to Amended and Restated Credit Agreement

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WELLS FARGO BANK, NATIONAL ASSOCIATION

 

 

 

 

 

By:

/S/

 

 

Name:

David M. Barnes

 

 

Title:

Senior Vice President

 

Signature page 5 to
Willis Lease Finance Corporation
Fifth Amendment to Amended and Restated Credit Agreement

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HSH NORDBANK AG, NEW YORK BRANCH

 

 

 

 

 

By:

/S/

 

 

Name:

 

 

 

Title:

 

 

 

 

 

 

 

 

 

 

By:

/S/

 

 

Name:

Sylvie Morvan

 

 

Title:

Vice President

 

Signature page 6 to
Willis Lease Finance Corporation
Fifth Amendment to Amended and Restated Credit Agreement

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CITY NATIONAL BANK

 

 

 

 

 

By:

/S/

 

 

Name:

Nanci Brusati Dias

 

 

Title:

Senior Vice President

 

Signature page 7 to
Willis Lease Finance Corporation
Fifth Amendment to Amended and Restated Credit Agreement

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LANDESBANKI ISLANDS HF.

 

 

 

 

 

By:

/S/

 

 

Name:

Halldor Hafsteinsson

 

 

Title:

Senior Manager Aviation Finance

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/S/

 

 

Name:

S. Elin Sigfusdottir

 

 

Title:

Managing Director Corporate Banking

 

Signature page 8 to
Willis Lease Finance Corporation
Fifth Amendment to Amended and Restated Credit Agreement

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IXIS CORPORATE & INVESTMENT BANK

 

 

 

 

 

By:

/S/

 

 

Name:

Thomas McGrath

 

 

Title:

Executive Director Leveraged & Acquisition Finance

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/S/

 

 

Name:

Andreas Herzog

 

 

Title:

Director Leveraged & Acquisition Finance

 

 

Signature page 9 to
Willis Lease Finance Corporation
Fifth Amendment to Amended and Restated Credit Agreement

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KAUPTHING BANK

 

 

 

 

 

By:

/S/

 

 

Name:

 

 

 

Title:

Deputy Managing Director Corporate Banking

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/S/

 

 

Name:

 

 

 

Title:

 

 

Signature page 10 to
Willis Lease Finance Corporation
Fifth Amendment to Amended and Restated Credit Agreement

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STATE BANK OF INDIA (LOS ANGELES AGENCY)

 

 

 

 

 

By:

/S/

 

 

Name:

Sanjiv Chadha

 

 

Title:

Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

STATE BANK OF INDIA (CALIFORNIA)

 

 

 

 

 

 

 

 

 

By:

/S/

 

 

Name:

Sunil K. Kowshal

 

 

Title:

Vice President and Manager

 

Signature page 11 to
Willis Lease Finance Corporation
Fifth Amendment to Amended and Restated Credit Agreement

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