Exhibit 10.31

 

Execution Copy

 

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT AND JOINDER
AGREEMENT

 

This FIRST AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT and
JOINDER AGREEMENT (this “Amendment”), is entered into as of December 13, 2006
and amends in certain respects that certain that Second Amended and Restated
Credit Agreement, dated as of June 29, 2006, 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 (individually, a “Bank”, and collectively, the “Banks”), NATIONAL
CITY BANK (“NatCity”), in its capacity as Administrative Agent for the Banks
(the “Administrative Agent”), FORTIS BANK (NEDERLAND) N.V. (“Fortis”), in its
capacity as Structuring Agent and Security Agent for the Banks (the “Security
Agent”), and CALYON NEW YORK BRANCH (the “Additional Bank”) (as the same may
from time to time be amended, supplemented or otherwise modified, the “Credit
Agreement”).

 

W I T N E S S E T H:

 

WHEREAS, the Borrower desires to prepay Fortis in full, and Fortis is willing to
withdraw as a Bank in connection with such prepayment and desires to resign as
Security Agent under the Credit Agreement;

 

WHEREAS, pursuant to Section 9.11 of the Credit Agreement, the Banks desire to
appoint NatCity as successor Security Agent, and the Borrower is willing to
consent to such appointment;

 

WHEREAS, the Additional Bank desires to join the Credit Agreement as an
Additional Bank pursuant to Section 10.01 of the Credit Agreement, and the
execution and delivery of this Amendment is a condition precedent to the
Additional Bank becoming a party to, and a Bank under, the Credit Agreement; and

 

WHEREAS, in connection with the foregoing transactions, the Borrower, the Agents
and the Banks desire to amend the Credit Agreement in certain respects, as
hereinafter provided;

 

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

 

Section 1.   Defined Terms. Capitalized terms used and not otherwise defined
herein shall have the respective meanings ascribed to them in the Credit
Agreement.

 

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Section 2.   Appointment and Consent.

 

Section 2.1.   Appointment of Security Agent. The Banks hereby jointly appoint
NatCity as successor Security Agent to Fortis pursuant to Section 9.11 of the
Credit Agreement, such appointment to become effective as provided in Section 5
of this Amendment; the Borrower hereby consents to such appointment and NatCity
hereby accepts such appointment. Pursuant to such appointment, NatCity shall
succeed to and shall become vested with the duties, rights, powers and
privileges of Fortis, as Security Agent, and, subject to the last sentence of
this Section 2(a), Fortis shall be discharged from all duties and liabilities as
Security Agent, in each case under the Credit Agreement and the other Loan
Documents. Concurrently with such discharge, Fortis hereby assigns to NatCity,
as successor Security Agent under the Loan Documents (the “Successor Agent”),
all of its rights, powers, entitlements, benefits and privileges as Security
Agent and beneficiary under the Security Documents, including without limitation
all Liens held by it as Security Agent. Fortis agrees to execute and deliver to
the Successor Agent from time to time, at the request of the Borrower or the
Successor Agent, and at the sole expense of the Borrower, such documents,
confirmations and instruments as shall be required or reasonably requested in
order to effectuate the intent and purposes of this Amendment, including,
without limitation, all assignments of Liens in favor of the Successor Agent.

 

Section 2.2.   Waiver. The Borrower and the Banks hereby waive the requirement
for 30 days’ prior written notice of resignation from the Security Agent
pursuant to Section 9.11 of the Credit Agreement.

 

Section 3.   Joinder of Additional Bank. The Borrower and the Agents (including
the Successor Agent) hereby agree as follows:

 

Section 3.1.   Joinder in the Credit Agreement. The Additional Bank hereby joins
the Credit Agreement and accepts and agrees to be bound by all of the terms and
conditions thereof, and the Borrower, the Administrative Agent and the Security
Agent (including the Successor Agent) hereby consent to such joinder in the
Credit Agreement by the Additional Bank. The Additional Bank confirms the
appointment and authorization of the Administrative Agent and the Security Agent
(including the Successor Agent) pursuant to Section 9.01 of the Credit Agreement
and expressly acknowledges to the Agents (including the Successor Agent) the
matters referred to in Section 9.03 of the Credit Agreement.

 

Section 3.2.   “Bank” under the Loan Documents. The Additional Bank shall
henceforth be deemed a “Bank” for all purposes of the Credit Agreement, the
Security Agreement and the other Loan Documents.

 

Section 3.3.   Obligations of the Borrower. The Obligations of the Borrower to
the Additional Bank shall be secured by the Collateral pursuant to the Security
Agreement and the other Loan Documents with all other Obligations of the
Borrower to all other Banks and the Agents in accordance with the Credit
Agreement, the Security Agreement and the other Loan Documents.

 

Section 3.4.   Commitment. The amount of the Additional Bank’s Commitment is
TWENTY MILLION Dollars ($20,000,000) and its Commitment Percentage is 9.22%.

 

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Section 3.5.   Notices. The address of the Additional Bank for purposes of
Section 11.09 of the Credit Agreement is 1301 Avenue of the Americas, New York,
New York 10019-6022, Attention: Charles Moran, unless changed in accordance with
the terms thereof.

 

Section 3.6.   Separate Joinder Agreement Not Required. This Section 3 shall be
in lieu of a separate Joinder Agreement required by Section 10.01 of the Credit
Agreement.

 

Section 4.   Amendments to Credit Agreement.

 

Section 4.1.   Amendment to Certain Defined Terms. Clause “(i)” of the
definition of “Asset Base” in Section 1.01 of the Credit Agreement is hereby
amended and restated in its entirety to read as follows:

 

“(I)   THE AGGREGATE AMOUNT INCLUDIBLE IN THE ASSET BASE OF NET BOOK VALUE OF
ELIGIBLE ENGINES AND ELIGIBLE EQUIPMENT (OTHER THAN ELIGIBLE PARTS) MANUFACTURED
BY THE SAME ACCEPTABLE MANUFACTURER AND OF THE MAKES AND MODELS SET FORTH ON
SCHEDULE 1.01(D) SHALL NOT EXCEED 25% OF THE ASSET BASE; PROVIDED, HOWEVER, THAT
THE AGGREGATE AMOUNT INCLUDIBLE IN THE ASSET BASE OF NET BOOK VALUE OF CFM56-7
SERIES ENGINES MAY CONSTITUTE UP TO 45% OF THE ASSET BASE;”

 

Section 4.2.   Amendment relating to Section 9.03. Section 9.03(a) is hereby
amended by deleting the word “not” from where it appears therein.

 

Section 4.3.   Amendment relating to Section 9.11. Section 9.11 of the Credit
Agreement is hereby amended by substituting the reference “Majority Banks” for
the reference in the second sentence thereof to “Banks”.

 

Section 4.4.   Amendment relating to Aggregate Revolving Loan Commitment. In
accordance with Section 2.01(a) of the Credit Agreement, the Borrower hereby
elects, and the Agents (including the Successor Agent) hereby consent, to
increase the Aggregate Revolving Loan Commitment to $217,000,000. Accordingly,
Schedule 1.01(a) to the Credit Agreement is hereby amended and restated in its
entirety to read as set forth in Schedule 1.01(a) annexed hereto.

 

Section 5.   Withdrawal of Fortis as a Bank. Fortis agrees that, upon receipt of
payment in full of all amounts owed to it under the Credit Agreement and the
other Loan Documents, its Commitment will be automatically terminated and it
will no longer be a “Bank” or “Structuring Agent” under the Credit Agreement and
any other Loan Document. Each of the Banks hereby acknowledges and agrees to the
prepayment of all amounts owed to Fortis and to Fortis’s withdrawal as a Bank
and as Structuring Agent under the Credit Agreement and the other Loan
Documents.

 

Section 6.   Effectiveness. The effectiveness of this Amendment shall be
conditioned upon the fulfillment to the satisfaction of the Administrative Agent
of each of the following conditions by no later than December 31, 2006:

 

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(i)

The Administrative Agent shall have received counterparts of this Amendment
executed by each of the parties required to execute the same pursuant to the
Credit Agreement and the other Loan Documents.

 

 

 

 

(ii)

The Administrative Agent shall have received confirmation from the Additional
Bank that all documentation required in connection with its joinder as an
Additional Bank under the Credit Agreement shall have been received.

 

 

 

 

(iii)

The Additional Bank shall have received a new promissory note duly executed by
the Borrower, and each Bank, whose Commitment is changed, as set forth on
Schedule 1.01(a) attached hereto, shall have received a substitute promissory
note duly executed by the Borrower in the amount of such changed Commitment.

 

 

 

 

(iv)

No Material Adverse Change shall have occurred since June 30, 2006.

 

 

 

 

(v)

The Administrative Agent shall receive written confirmation from Fortis that it
has received payment in full of all amounts owed to it under the Credit
Agreement and the other Loan Documents.

 

 

 

 

(vi)

Each of the Banks who shall have executed and delivered a counterpart to this
Amendment, or the Administrative Agent on behalf of such Bank, shall have
received the fee to which such Bank is entitled in accordance with Annex A
hereto.

 

Notwithstanding the foregoing, if any amendment set forth in Section 4 hereof or
any other provision hereof shall not become effective due to the failure to
satisfy a condition of this Section 6, that shall not limit the effectiveness
of any other provision hereof if the conditions to effectiveness thereof shall
be satisfied. For purposes of determining compliance with the conditions
specified in this Section 6, each Bank that has executed this Amendment shall be
deemed to have consented to, approved or accepted, or to be satisfied with, each
document or other matter either sent, or made available for inspection, by the
Administrative Agent to such Bank for consent, approval, acceptance or
satisfaction, or required thereunder to be consented to or approved by or
acceptable or satisfactory to the Administrative Agent and the requisite Banks
pursuant to the Credit Agreement.

 

SECTION 7.   REFERENCE TO AND EFFECT ON LOAN DOCUMENTS. ON AND AFTER THE
EFFECTIVE DATE OF THIS AMENDMENT, 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.

 

SECTION 8.   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

 

4

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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.

 

SECTION 9.   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.

 

SECTION 10.   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.

 

Section 11.   Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5-1401
AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW BUT OTHERWISE WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES.

 

SECTION 12.   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.

 

SECTION 13.   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.

 

SECTION 14.   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.

 

SECTION 15.   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.

 

SECTION 16.   ENTIRE AGREEMENT.  THIS AMENDMENT SETS FORTH THE ENTIRE

 

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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 executed
as of the date first above written.

 

 

BORROWER:

 

 

 

WILLIS LEASE FINANCE CORPORATION,

 

 

 

 

 

By:

/s/ Robert M. Warwick

 

 

Name:

Robert M. Warwick

 

 

Title:

Executive Vice President

 

 

 

Chief Financial Officer

 

SIGNATURE PAGE TO FIRST AMENDMENT TO

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

AND JOINDER AGREEMENT

 

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AGENTS:

 

 

 

FORTIS BANK (NEDERLAND) N.V.,

 

 

as Structuring Agent and Security Agent

 

 

 

 

 

By:

/s/ J.F.G.M. Wolfhagen

 

 

Name: J.F.G.M. Wolfhagen

 

 

Title: Director Portfolio Riskmanagement

 

 

 

 

 

By:

/s/ M.H. Schipper

 

 

Name: M.H. Schipper

 

 

Title:

 

SIGNATURE PAGE TO FIRST AMENDMENT TO

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

AND JOINDER AGREEMENT

 

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NATIONAL CITY BANK,

 

 

as Administrative Agent, Successor Agent and Swing Line Lender

 

 

 

 

 

By:

/s/ Christos Kytzidis

 

 

Name: Christos Kytzidis

 

 

Title: Senior Vice President

 

SIGNATURE PAGE TO FIRST AMENDMENT TO

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

AND JOINDER AGREEMENT

 

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BANKS:

 

 

 

CALYON NEW YORK BRANCH,

 

 

as Additional Bank

 

 

 

 

 

By:

/s/ Brian Bolotin

 

 

Name: Brian Bolotin

 

 

Title: Managing Director

 

 

 

 

 

By:

/s/ Charles Moran

 

 

Name: Charles Moran

 

 

Title: Director

 

SIGNATURE PAGE TO FIRST AMENDMENT TO

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

AND JOINDER AGREEMENT

 

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NATIONAL CITY BANK

 

 

 

 

 

By:

/s/ Christos Kytzidis

 

 

Name:

Christos Kytzidis

 

 

Title:

Senior Vice President

 

SIGNATURE PAGE TO FIRST AMENDMENT TO

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

AND JOINDER AGREEMENT

 

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CALIFORNIA BANK & TRUST,

 

 

 

 

 

By:

/s/ J. Michael Sullivan

 

 

Name: J. Michael Sullivan

 

 

Title: Vice President

 

SIGNATURE PAGE TO
JOINDER AGREEMENT AND AMENDMENT TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

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KfW

 

 

 

 

 

By:

/s/ Thomas Brehler

 

 

Name: Thomas Brehler

 

 

Title: First Vice President

 

 

 

 

 

By:

/s/ Andreas Roth

 

 

Name: Andreas Roth

 

 

Title:  Senior Project Manager

 

SIGNATURE PAGE TO
JOINDER AGREEMENT AND AMENDMENT TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

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CITY NATIONAL BANK

 

 

 

 

 

By:

/s/ Nanci Brusati Dias

 

 

Name: Nanci Brusati Dias

 

 

Title:  Senior Vice President

 

SIGNATURE PAGE TO
JOINDER AGREEMENT AND AMENDMENT TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

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ALLIANCE & LEICESTER COMMERCIAL
FINANCE PLC

 

 

 

 

 

By:

/s/ Martin Wells

 

 

Name: Martin Wells

 

 

Title:  Head of Aviation Finance

 

SIGNATURE PAGE TO
JOINDER AGREEMENT AND AMENDMENT TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

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CREDIT INDUSTRIEL ET COMMERCIAL,
NEW YORK BRANCH

 

 

 

 

 

By:

/s/ Alex Aupoix

 

 

Name: Alex Aupoix

 

 

Title:  Vice President

 

 

 

 

 

 

 

By:

/s/ Adrienne Molloy

 

 

Name: Adrienne Molloy

 

 

Title:  Vice President

 

SIGNATURE PAGE TO
JOINDER AGREEMENT AND AMENDMENT TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

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HSH NORDBANK AG, NEW YORK BRANCH

 

 

 

 

 

By:

/s/ Wolfgang Arbaczewski

 

 

Name:

Wolfgang Arbaczewski

 

 

Title:

Vice President – Transportation Americas

HSH Nordbank AG, New York Branch

 

 

 

 

 

By:

/s/ Klaus Bernhart

 

 

Name:

Klaus Bernhart

 

 

Title:

General Manager
HSH Nordbank AG, New York Branch

 

SIGNATURE PAGE TO
JOINDER AGREEMENT AND AMENDMENT TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

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STATE BANK OF INDIA, LOS ANGELES AGENCY

 

 

 

 

 

By:

/s/ K.S.S. Naidu

 

 

Name: Mr. K.S.S. Naidu

 

 

Title:  V.P. (Credit)

 

SIGNATURE PAGE TO
JOINDER AGREEMENT AND AMENDMENT TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

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LANDESBANKI ISLANDS HF.

 

 

 

 

 

By:

/s/ Hlynur Sigursveinsson

 

 

Name: Hlynur Sigursveinsson

 

 

Title:  Senior Manager

 

 

 

 

 

By:

/s/ Magnus Karlsson

 

 

Name: Magnus Karlsson

 

 

Title:  Senior Account Manager

 

SIGNATURE PAGE TO
JOINDER AGREEMENT AND AMENDMENT TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

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BNP PARIBAS

 

 

 

 

 

By:

/s/ Antoine Treguer

 

 

Name: Antoine Treguer

 

 

Title:  VP Aviation Finance Group

 

SIGNATURE PAGE TO
JOINDER AGREEMENT AND AMENDMENT TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

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FORTIS BANK (NEDERLAND) N.V.,

 

 

 

 

 

By:

/s/ J.F.G.M. Wolfhagen

 

 

Name: J.F.G.M. Wolfhagen

 

 

Title:  Director Portfolio Riskmanagement

 

 

 

 

 

 

 

By:

/s/ M.H. Schipper

 

 

Name: M.H. Schipper

 

 

Title:

 

SIGNATURE PAGE TO
JOINDER AGREEMENT AND AMENDMENT TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

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SCHEDULE 1.01(a)

 

COMMITMENT PERCENTAGES AND LOAN COMMITMENTS

 

Bank Name

 

Commitment

 

Commitment
Percentage

 

 

 

 

 

 

 

National City Bank

 

$

35,000,000

 

16.13

%

California Bank & Trust

 

$

25,000,000

 

11.52

%

KfW

 

$

25,000,000

 

11.52

%

Calyon New York Branch

 

$

20,000,000

 

9.22

%

City National Bank

 

$

20,000,000

 

9.22

%

Alliance & Leicester Commercial Finance Plc

 

$

20,000,000

 

9.22

%

Credit Industriel et Commercial, New York Branch

 

$

20,000,000

 

9.22

%

HSH Nordbank AG, New York Branch

 

$

15,000,000

 

6.91

%

State Bank of India, Los Angeles Agency

 

$

15,000,000

 

6.91

%

Landesbanki Islands hf.

 

$

12,000,000

 

5.53

%

BNP Paribas

 

$

10,000,000

 

4.60

%

 

 

 

 

 

 

Total

 

$

217,000,000

 

100.00

%

 

S-1

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