Document:

[MHC LOGO]               McGovern, Hurley, Cunningham, LLP
[GRAPHIC OMITTED]        Chartered Accountants

                        CONSENT OF INDEPENDENT AUDITORS

TO:         NORTHWESTERN MINERAL VENTURES INC.
            ("NORTHWESTERN")

AND TO:     BERNS & BERNS, COUNSELORS AT LAW

AND TO:     U.S. SECURITIES & EXCHANGE COMMISSION

FROM:       MCGOVERN, HURLEY, CUNNINGHAM, LLP

RE:         NORTHWESTERN MINERAL VENTURES INC. - AUDITED ANNUAL FINANCIAL
            STATEMENTS FOR THE PERIODS ENDED DECEMBER 31, 2005, 2004, AND 2003

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

We hereby consent to the inclusion of our report dated March 3, 2006 in
connection with our audits of the consolidated financial statements of
Northwestern as at December 31, 2005 and 2004 and for the periods ended
December 31, 2005, 2004, and 2003 in Northwestern's Annual Report on Form 20-F
for the year ended December 31, 2005 ("Form 20-F"), for the purposes of filing
same with the U.S. Securities and Exchange Commission.

Dated this 29th day of June, 2006.

                                MCGOVERN, HURLEY, CUNNINGHAM, LLP

                                /s/ McGovern, Hurley, Cunningham, LLP
                                -------------------------------------

                                Chartered Accountants

     2005 Sheppard Avenue East, Suite 300, Toronto, Ontario, Canada, M2J 5B4
                Telephone: (416) 496-1234 - Fax: (416) 496-0125 -
                 E-Mail: info@mhc-ca.com - Website: www.mhc-ca.com[LETTERHEAD OMITTED]
WATTS, GRIFFIS and MCOUAT
Consulting Geologists and Engineers

                                                                   June 16, 2006

                             CONSENT OF EXPERT/FIRM

TO:         Northwestern Mineral Ventures Inc.

AND TO:     Berns & Berns, Counselors at Law

AND TO:     U.S. Securities and Exchange Commission (the "Securities Regulator")

Gentlemen:

     RE: A SUMMARY OF THE FORMER OPEMISCA EXPLORERS LIMITED URANIUM PROPERTY
                          IN CHARLEVOIX COUNTY, QUEBEC

Reference is made to a summary report entitled "A Summary of the Former Opemisca
Explorers Limited Uranium Property in Charlevoix County, Quebec" dated May 12,
2006 (the "Summary Report") which we prepared for NORTHWESTERN MINERAL VENTURES
INC. (the "Corporation").

We hereby consent to the filing of the Summary Report with the Securities
Regulator, and to the written disclosure of the Summary Report and the inclusion
of extracts therefrom or a summary thereof in the Corporation's Annual Report on
Form 20-F for the year ended December 31, 2005 ("Form 20-F"). We reserve the
right to review such disclosures to ensure that our comments are contextually
accurate.

We further agree to being named as an expert in the Form 20-F.

Dated this 16 day of June, 2006.

                                                    Sincerely,

                                            WATTS, GRIFFIS AND MCOUAT LIMITED

                                            /s/ Joe Hinzer

                                            Per: Joe Hinzer, P.Geo.
JH/ls                                            President

[LETTERHEAD OMITTED]
Watts, Griffis and McOuat
Consulting Geologists and Engineers

                                                                   June 16, 2006

                             CONSENT OF EXPERT/FIRM

TO:       Northwestern Mineral Ventures Inc.

AND TO:   Berns & Berns, Counselors at Law

AND TO:   U.S. Securities & Exchange Commission (the "Securities Regulator")

Gentlemen:

   RE: TECHNICAL REVIEW OF THE PICACHOS SILVER-GOLD AND BASE METALS PROSPECTS,
                          WESTERN DURANGO STATE, MEXICO

Reference is made to the technical report entitled "A Technical Review of the
Picachos Silver-Gold and Base Metals Prospects, Western Durango State, Mexico"
dated 24 November, 2004 (the "Technical Report") which we prepared for
NORTHWESTERN MINERAL VENTURES INC. (the "Corporation").

We hereby consent to the filing of the Technical Report with the Securities
Regulator, and to the written disclosure of the Technical Report and the
inclusion of extracts therefrom or a summary thereof in the Corporation's
Annual Report on Form 20-F for the year ended December 31, 2005 ("Form 20-F").
We reserve the right to review such disclosures to ensure that our comments
are contextually accurate.

We further agree to being named as an expert in the Form 20-F.

Dated this 16 day of June, 2006.

                                                    Sincerely,

                                            WATTS, GRIFFIS AND McOUAT LIMITED

                                            /s/ Joe Hinzer

                                            Per: Joe Hinzer, P.Geo.
JH/ls                                            PresidentCLAUDE JOBIN, P.ENG., M.SC.
                              PROFESSIONAL ENGINEER

                                     CONSENT

TO:      NORTHWESTERN MINERAL VENTURES INC.

AND TO:  BERNS & BERNS, COUNSELORS AT LAW

AND TO:  U.S. SECURITIES & EXCHANGE COMMISSION
         (THE "SECURITIES REGULATOR")

FROM:    CLAUDE JOBIN, P.ENG., M.SC.

RE:      TECHNICAL EVALUATION REPORT 43-101, NORTHWESTERN MINERAL VENTURES INC.
         URANIUM PROPERTIES, NIGER, WEST AFRICA
--------------------------------------------------------------------------------

Reference is made to the technical report (the "TECHNICAL REPORT") dated 2 May,
2006 entitled "Technical Evaluation Report 43-101, Northwestern Mineral Ventures
Inc. Uranium Properties, Niger, West Africa", which we prepared for Northwestern
Mineral Ventures Inc. (the "CORPORATION").

We hereby consent to the filing of the Technical Report with the Securities
Regulator, and to the written disclosure of the Technical Report and the
inclusion of extracts therefrom or a summary thereof in the Corporation's Annual
Report on Form 20-F for the year ended December 31, 2005 ("Form 20-F"). We
reserve the right to review such disclosures to ensure that our comments are
contextually accurate.

We further agree to being named as an expert in the Form 20-F.

Dated this      day of June, 2006.

                                            ---------------------------
                                            Claude Jobin, P.Eng., M.Sc.
                                            Professional Engineer

               159 Des Saules Ouest, Quebec, Quebec G1L 1E3 Canada
                              Tel-Fax: 418-623-4171[LETTERHEAD OMITTED]
                             CANALASKA VENTURES LTD.

                                     CONSENT

TO:         NORTHWESTERN MINERAL VENTURES INC.

AND TO:     BERNS & BERNS, COUNSELORS AT LAW

AND TO:     U.S. SECURITIES & EXCHANGE COMMISSION
            (THE "SECURITIES REGULATOR")

FROM:       CANALASKA VENTURES LTD.

RE:         DESCRIPTION OF PROPERTY, CANALASKA VENTURES LTD., WATERBURY LAKE
            PROJECT, ATHABASCA BASIN, SASKATCHEWAN, CANADA
-------------------------------------------------------------------------------

Reference is made to the summary report (the "SUMMARY REPORT") entitled
"Description of Property, CanAlaska Ventures Ltd., Waterbury Lake Project,
Athabasca Basin, Saskatchewan, Canada".

We hereby consent to the filing of the Summary Report with the Securities
Regulator, and to the written disclosure of the Summary Report and the
inclusion of extracts therefrom or a summary thereof in the Corporation's
Annual Report on Form 20-F for the year ended December 31, 2005 ("Form 20-F").
We reserve the right to review such disclosures to ensure that our comments are
contextually accurate.

We further agree to being named as an expert in the Form 20-F.

Dated this 28 day of June, 2006.

                                            CANALASKA VENTURES LTD.

                                            Per: /s/ Karl Schimann
                                                ------------------
                                               Dr. Karl Schimann, P.Geo., Ph.D.
                                               Exploration Manager, Uranium
STable of Contents
EXHIBIT
4.7

	
		
	

PASS THROUGH
TRUST AGREEMENT

dated as of
              ,
        

between

JETBLUE
AIRWAYS CORPORATION

and

WILMINGTON TRUST
COMPANY,

as Trustee

	
				
	

JetBlue Airways Pass
Through Trust, Series
                
 Pass
Through Certificates, Series                 

	
				
	

	
		
	

Table of Contents
Reconciliation and tie between JetBlue
Airways Pass Through Trust Agreement, Series
         dated as of
                              ,
and the Trust Indenture Act of 1939. This reconciliation does not
constitute part of the Pass Through Trust
Agreement.

				
	Trust
Indenture Act
 of 1939 Section 			Pass Through
Trust
Agreement
Section
	310(a)(1)			7.08
	      (a)(2)			7.08
	312(a)			3.05;
8.01; 8.02
	313(a)			7.06;
8.03
	314(a)			8.04(a), (c) &
(d)
	      (a)(4)			8.04(e)
	      (c)(1)			1.02
	      (c)(2)			1.02
	      (d)(1)			7.13;
11.01
	      (d)(2)			7.13;
11.01
	      (d)(3)			2.01
	      (e)			1.02
	315(b)			7.02
	316(a)(last
sentence)			1.04(c)
	      (a)(1)(A)			6.04
	      (a)(1)(B)			6.05
	      (b)			6.06
	      (c)			1.04(e)
	317(a)(1)			6.03
	      (b)			7.13
	318(a)			12.06
	

Table of Contents
TABLE OF
CONTENTS

										
	 			 			Page
	ARTICLE
I     DEFINITIONS					2	

	Section
1.01.			Definitions					2	

	Section
1.02.			Compliance Certificates and Opinions					9	

	Section 1.03.			Form of Documents Delivered to
Trustee					9	

	Section 1.04.			Directions
of Certificateholders					9	

	ARTICLE
II    ORIGINAL ISSUANCE OF CERTIFICATES; ACQUISITION OF EQUIPMENT
NOTES					10	

	Section 2.01.			Issuance of
Certificates; Acquisition of Equipment Notes					10	

	Section 2.02.			Withdrawal of
Deposits					11	

	Section 2.03.			Acceptance
by Trustee					11	

	Section
2.04.			Limitation of Powers					11	

	ARTICLE
III    THE CERTIFICATES					12	

	Section
3.01.			Title, Form, Denomination and Execution of
Certificates					12	

	Section
3.02.			Restrictive Legends					12	

	Section 3.03.			Authentication of
Certificates					13	

	Section
3.04.			Transfer and Exchange					13	

	Section 3.05.			Global, Book-Entry and Definitive
Certificates					14	

	Section
3.06.			[Intentionally Omitted.]					15	

	Section 3.07.			Mutilated, Destroyed, Lost or Stolen
Certificates					15	

	Section
3.08.			Persons Deemed Owners					15	

	Section 3.09.			Cancellation					16	

	Section 3.10.			Temporary
Certificates					16	

	Section
3.11.			Limitation of Liability for
Payments					16	

	Section 3.12.			ERISA
Legend					16	

	ARTICLE
IV    DISTRIBUTIONS; STATEMENTS TO
CERTIFICATEHOLDERS					17	

	Section
4.01.			Certificate Account and Special Payments
Account					17	

	Section
4.02.			Distributions from Certificate Account and Special
Payments Account					17	

	Section
4.03.			Statements to Certificateholders					18	

	Section 4.04.			Investment of Special Payment
Moneys					19	

	ARTICLE
V    THE COMPANY					19	

	Section
5.01.			Maintenance of Corporate Existence					19	

	Section 5.02.			Consolidation, Merger,
etc					19	

	ARTICLE
VI    DEFAULT					20	

	Section
6.01.			Events of Default					20	

	Section
6.02.			Incidents of Sale of Equipment
Notes					22	

	Section 6.03.			Judicial
Proceedings Instituted by Trustee; Trustee May  Bring
Suit					22	

	Section 6.04.			Control by
Certificateholders					23	

	Section
6.05.			Waiver of Past Defaults					23	

	Section 6.06.			Right of Certificateholders to Receive
Payments Not to Be Impaired					23	

	Section
6.07.			Certificateholders May Not Bring Suit Except Under
Certain Conditions					23	

	Section
6.08.			Remedies Cumulative					24	

	ARTICLE
VII    THE TRUSTEE					24	

	Section
7.01.			Certain Duties and Responsibilities					24	

	Section 7.02.			Notice of Defaults					24	

	Section 7.03.			Certain Rights of
Trustee					25	

	

i

Table of Contents

										
	 			 			Page
	Section 7.04.			Not
Responsible for Recitals or Issuance of
Certificates					25	

	Section
7.05.			May  Hold Certificates					25	

	Section 7.06.			Money Held in
Trust					26	

	Section 7.07.			Compensation
and Reimbursement					26	

	Section
7.08.			Corporate Trustee Required;
Eligibility					27	

	Section
7.09.			Resignation and Removal; Appointment of
Successor					27	

	Section
7.10.			Acceptance of Appointment by
Successor					28	

	Section 7.11.			Merger,
Conversion, Consolidation or Succession to
Business					28	

	Section
7.12.			Maintenance of Agencies					28	

	Section 7.13.			Money for Certificate Payments to Be
Held in Trust					29	

	Section
7.14.			Registration of Equipment Notes in Name of Subordination
Agent					29	

	Section
7.15.			Representations and Warranties of
Trustee					29	

	Section
7.16.			Withholding Taxes Information
Reporting					30	

	Section
7.17.			Trustee's Liens					31	

	Section 7.18.			Preferential Collection of
Claims					31	

	ARTICLE
VIII    CERTIFICATEHOLDERS' LISTS AND REPORTS BY
TRUSTEE					31	

	Section 8.01.			The
Company to Furnish Trustee with Names and Addresses of
Certificateholders					31	

	Section
8.02.			Preservation of Information Communications to
Certificateholders					31	

	Section
8.03.			Reports by Trustee					31	

	Section
8.04.			Reports by the Company					31	

	ARTICLE
IX    SUPPLEMENTAL AGREEMENTS					32	

	Section
9.01.			Supplemental Agreements Without Consent of
Certificateholders					32	

	Section
9.02.			Supplemental Agreements with Consent of
Certificateholders					33	

	Section
9.03.			Documents Affecting Immunity or
Indemnity					34	

	Section
9.04.			Execution of Supplemental
Agreements					34	

	Section 9.05.			Effect
of Supplemental Agreements					34	

	Section
9.06.			Conformity with Trust Indenture Act					34	

	Section 9.07.			Reference in Certificates to
Supplemental Agreements					34	

	ARTICLE
X    AMENDMENTS TO INDENTURES AND FINANCING
DOCUMENTS					34	

	Section
10.01.			Amendments and Supplements to Indentures and Financing
Documents					34	

	ARTICLE
XI    TERMINATION OF TRUST					35	

	Section
11.01.			Termination of the Trust					35	

	ARTICLE
XII    MISCELLANEOUS PROVISIONS					37	

	Section 12.01.			Limitation on Rights of
Certificateholders					37	

	Section
12.02.			Certificates Nonassessable and Fully
Paid					37	

	Section
12.03.			Notices					37	

	Section
12.04.			Governing Law					38	

	Section
12.05.			Severability of Provisions					38	

	Section 12.06.			Trust Indenture Act
Controls					38	

	Section 12.07.			Effect
of Headings and Table of Contents					38	

	Section 12.08.			Successors and
Assigns					38	

	Section 12.09.			Benefits
of Agreement					38	

	Section
12.10.			Legal Holidays					38	

	Section
12.11.			Counterparts					38	

	Section
12.12.			Intention of
Parties					38	

	

Exhibit  A –
Form of Certificate
Exhibit  B – Form of Assignment and
Assumption Agreement
Exhibit  C – Form of Notice to
Withholding Agent

ii

Table of Contents
PASS THROUGH TRUST
AGREEMENT

THIS PASS THROUGH TRUST AGREEMENT, dated as of
___________,
____ (the
‘‘Agreement’’), between JETBLUE
AIRWAYS CORPORATION, a Delaware corporation, and WILMINGTON
TRUST COMPANY, as Trustee, is made with respect to the formation of
JetBlue Airways Pass Through Trust, Series
________ and
the issuance of JetBlue Airways Pass Through Trust, Series
________ Pass
Through Certificates representing fractional undivided interests in the
Trust.

W I T N E S S E T H:

WHEREAS, the Company has obtained commitments from
________ for
the delivery of
_____________________
aircraft (collectively, the
‘‘Aircraft’’);

WHEREAS,
the Company intends to finance or refinance the acquisition of the
Aircraft through separate secured loan transactions in which the
Company will own such Aircraft;

WHEREAS, in the case of
each Aircraft, the Company will issue pursuant to an Indenture, on a
recourse basis, three series of Equipment Notes to finance or refinance
a portion of the purchase price of such Aircraft;

WHEREAS, the Trustee, upon execution and delivery of this
Agreement, hereby declares the creation of the Trust for the benefit of
the Certificateholders, as the grantors of the Trust, by their
respective acceptances of the Certificates, join in the creation of
this Trust with the Trustee;

WHEREAS, all Certificates to
be issued by the Trust will evidence Fractional Undivided Interests in
the Trust and will convey no rights, benefits or interests in respect
of any property other than the Trust Property except for those
Certificates to which an Escrow Receipt has been affixed;

WHEREAS, the Escrow Agent and the Underwriters have
contemporaneously herewith entered into an Escrow Agreement with the
Escrow Paying Agent pursuant to which the Underwriters have delivered
to the Escrow Agent the proceeds from the sale of the Certificates and
have irrevocably instructed the Escrow Agent to withdraw and pay funds
from such proceeds upon request and proper certification by the Trustee
to purchase Equipment Notes;

WHEREAS, the Escrow Agent on
behalf of the Certificateholders has contemporaneously herewith entered
into a Deposit Agreement with the Depositary under which the Deposits
referred to therein will be made and from which it will withdraw funds
to allow the Trustee to purchase Equipment Notes from time to time
prior to the Delivery Period Termination Date;

WHEREAS,
pursuant to the terms and conditions of this Agreement and the Note
Purchase Agreement, upon or following delivery of an Aircraft, the
Trustee on behalf of the Trust, using funds withdrawn under the Escrow
Agreement, may purchase an Equipment Note having the same interest rate
as, and final legal distribution date not later than the final Regular
Distribution Date of, the Certificates issued hereunder and shall hold
such Equipment Note in trust for the benefit of the
Certificateholders;

WHEREAS, to facilitate the sale of
Equipment Notes to, and the purchase of Equipment Notes by, the Trustee
on behalf of the Trust, the Company has duly authorized the execution
and delivery of this Agreement as the
‘‘issuer’’, as such term is defined in
and solely for purposes of the Securities Act, of the Certificates to
be issued pursuant hereto and as the
‘‘obligor’’, as such term is defined in
and solely for purposes of the Trust Indenture Act of 1939, as amended,
with respect to all such Certificates and is undertaking to perform
certain administrative and ministerial duties hereunder and is also
undertaking to pay the ongoing fees and expenses of the Trustee;

WHEREAS, all of the conditions and requirements necessary to
make this Agreement, when duly executed and delivered, a valid, binding
and legal instrument, enforceable in accordance with its terms and for
the purposes herein expressed, have been done, performed and fulfilled,
and the execution and delivery of this Agreement in the form and with
the terms hereof have been in all respects duly authorized; and

WHEREAS, this Agreement, as amended or supplemented from time
to time, will be subject to the provisions of the Trust Indenture Act
of 1939, and shall, to the extent applicable, be governed by such
provisions;

1

Table of Contents

NOW, THEREFORE, in consideration of
the mutual agreements herein contained, and of other good and valuable
consideration the receipt and adequacy of which are hereby
acknowledged, the parties hereto agree as follows:

ARTICLE  I

DEFINITIONS

Section
1.01.    Definitions.    For all purposes of this
Agreement, except as otherwise expressly provided or unless the context
otherwise requires:

(1)    the terms used in
this Agreement, including in the recitals to this Agreement, that are
defined in this Article have the meanings assigned to them in this
Article, and include the plural as well as the singular;

(2)    all other terms used herein which are
defined in the Trust Indenture Act, either directly or by reference
therein, or by the rules promulgated under the Trust Indenture Act,
have the meanings assigned to them therein;

(3)    all references in this Agreement to
designated ‘‘Articles’’,
‘‘Sections’’,
‘‘Subsections’’ and other subdivisions are to
the designated Articles, Sections, Subsections and other subdivisions
of this Agreement;

(4)    the words
‘‘herein’’, ‘‘hereof' and
‘‘hereunder’’ and other words of similar import
refer to this Agreement as a whole and not to any particular Article,
Section, Subsection or other subdivision; and

(5)    unless the context otherwise requires,
whenever the words ‘‘including’’,
‘‘include’’ or
‘‘includes’’ are used herein, it shall be
deemed to be followed by the phrase ‘‘without
limitation’’.

‘‘Above-Cap
Liquidity Facility’’ means, initially, the ISDA
Master Agreement, dated as of the date hereof, between the
Subordination Agent, as agent and trustee for the Class
______ Trust, and the initial
Class  __ Above-Cap Liquidity Provider, together
with the Schedule and Confirmation attached thereto, relating to the
Class  __ Certificates, and, from and after
replacement of such ISDA Master Agreement pursuant to the Intercreditor
Agreement, the Replacement Above-Cap Liquidity Facility (as defined in
the Intercreditor Agreement) therefor, if any, in each case as amended,
supplemented or otherwise modified from time to time in accordance with
its terms.

‘‘Above-Cap Liquidity
Provider’’ means
_________________
or any Replacement Above-Cap Liquidity Provider which has issued a
Replacement Above-Cap Liquidity Facility (each as defined in the
Intercreditor Agreement) to replace the Class  __
Above-Cap Liquidity Facility pursuant to Section
__ of the Intercreditor Agreement.

‘‘Affiliate’’ means, with
respect to any specified Person, any other Person directly or
indirectly controlling or controlled by or under direct or indirect
common control with such Person. For the purposes of this definition,
‘‘control’’ means the power, directly or
indirectly, to direct the management and policies of such Person,
whether through the ownership of voting securities or by contract or
otherwise, and the terms ‘‘controlling’’ and
‘‘controlled’’ have meanings correlative to the
foregoing.

‘‘Agent
Members’’ means members of, or participants in,
DTC.

‘‘Agreement’’ has
the meaning specified in the initial paragraph hereto.

‘‘Aircraft’’ has the meaning
specified in the Note Purchase Agreement.

‘‘Aircraft Purchase
Agreement’’ has the meaning specified in the Note
Purchase Agreement.

‘‘Applicable Funding
Date’’ has the meaning specified in Section
2.01(b).

‘‘Applicable Participation
Agreement’’ has the meaning specified in
Section  2.01(b).

‘‘Assignment and
Assumption Agreement’’ means the assignment and
assumption agreement substantially in the form of Exhibit  B
hereto to be executed and delivered in accordance with Section
11.01.

2

Table of Contents
‘‘Authorized
Agent’’ means any Paying Agent or Registrar for
the Certificates.

‘‘Avoidable
Tax’’ means a state or local tax (i)  upon
(w) the Trust, (x) the Trust Property, (y) Certificateholders or (z)
the Trustee for which the Trustee is entitled to seek reimbursement
from the Trust Property, and (ii)  which would be avoided if the
Trustee were located in another state, or jurisdiction within a state,
within the United States. A tax shall not be an Avoidable Tax if the
Company shall agree to pay, and shall pay, such tax.

‘‘Book-Entry Certificate’’
means, with respect to the Global Certificate, a beneficial interest in
the Global Certificate, ownership and transfers of which shall be made
through book entries as described in Section 3.05.

‘‘Business Day’’ means any
day other than a Saturday, a Sunday or a day on which commercial banks
are required or authorized to close in Darien, Connecticut, New York,
New York, Wilmington, Delaware or, so long as any Certificate is
outstanding, the city and state in which the Trustee or any Loan
Trustee maintains its Corporate Trust Office or receives and disburses
funds.

‘‘Certificate’’
means any one of the certificates executed and authenticated by the
Trustee, substantially in the form of Exhibit  A hereto.

‘‘Certificate Account’’
means the account or accounts created and maintained pursuant to
Section  4.01(a).

‘‘Certificate
Owner’’ means, with respect to the Certificates,
for purposes of Section  3.05, a Person who owns a Book-Entry
Certificate.

‘‘Certificateholder or
Holder’’ means the Person in whose name a
Certificate is registered in the Register.

‘‘Class
        Certificate’’ has the meaning
specified in the Intercreditor Agreement.

‘‘Class
        Certificateholder’’ means, at any
time, any holder of one or more pass through certificates issued by the
JetBlue Airways Pass Through Trust, Series
__________.

‘‘Class
        Certificate’’ has the meaning
specified in the Intercreditor Agreement.

‘‘Class
        Certificateholder’’ means, at any
time, any holder of one or more pass through certificates issued by the
JetBlue Airways Pass Through Trust, Series
__________.

‘‘Clearing Agency’’ means an
organization registered as a ‘‘clearing
agency’’ pursuant to Section  17A of the Exchange
Act.

‘‘Clearing Agency
Participant’’ means a broker, dealer, bank, other
financial institution or other Person for whom from time to time a
Clearing Agency effects, directly or indirectly, book-entry transfers
and pledges of securities deposited with the Clearing Agency.

‘‘Code’’ means the Internal
Revenue Code of 1986, as amended from time to time, and the Treasury
Regulations promulgated thereunder.

‘‘Company’’ means JetBlue
Airways Corporation, a Delaware corporation, or its successor in
interest pursuant to Section  5.02, or (only in the context of
provisions hereof, if any, where such reference is required for
purposes of compliance with the Trust Indenture Act) any other
‘‘obligor’’ (within the meaning of the Trust
Indenture Act) with respect to the Certificates.

‘‘Controlling Party’’ has
the meaning specified in the Intercreditor Agreement.

‘‘Corporate Trust Office’’
with respect to the Trustee or any Loan Trustee, means the office of
such trustee in the city at which at any particular time its corporate
trust business shall be principally administered.

‘‘Cut-off Date’’ means the
earlier of (a)  the Delivery Period Termination Date and
(b)  the date on which a Triggering Event occurs.

‘‘Definitive Certificates’’
has the meaning specified in Section  3.05.

3

Table of Contents
‘‘Delivery Period
Termination Date’’ means the earlier of (a)
_____________,
or, if the Equipment Notes relating to all of the Aircraft (or
Substitute Aircraft in lieu thereof) have not been purchased by the
Trustee and the Other Trustees on or prior to such date due to any
reason beyond the control of the Company and not occasioned by the
Company's fault or negligence,
_____________
and (b)  the date on which Equipment Notes issued with respect to
all of the Aircraft (or Substitute Aircraft in lieu thereof) have been
purchased by the Trustee and the Other Trustees in accordance with the
Note Purchase Agreement.

‘‘Deposits’’ has the meaning
specified in the Deposit Agreement.

‘‘Deposit
Agreement’’ means the Deposit Agreement dated as
of
_________________
relating to the Certificates between the Depositary and the Escrow
Agent, as the same may be amended, supplemented or otherwise modified
from time to time in accordance with its terms.

‘‘Depositary’’ means
_______________________________________.

‘‘Direction’’ has the
meaning specified in Section  1.04(a).

‘‘Distribution Date’’ means
any Regular Distribution Date or Special Distribution Date as the
context requires.

‘‘DTC’’ means The Depository
Trust Company, its nominees and their respective successors.

‘‘Equipment Notes’’ means
the equipment notes issued under the Indentures.

‘‘ERISA’’ means Employee
Retirement Income Security Act of 1974, as amended from time to
time.

‘‘Escrow Agent’’
means, initially, Wilmington Trust Company.

‘‘Escrow Agreement’’ means
the Escrow and Paying Agent Agreement dated as of
___________,
____ relating to the Certificates, among
the Escrow Agent, the Escrow Paying Agent, the Trustee and the
Underwriters, as the same may be amended, supplemented or otherwise
modified from time to time in accordance with its terms.

‘‘Escrow Paying Agent’’
means the Person acting as paying agent under the Escrow Agreement.

‘‘Escrow Receipt’’ means the
receipt substantially in the form annexed to the Escrow Agreement
representing a fractional undivided interest in the funds held in
escrow thereunder.

‘‘Event of
Default’’ means an Indenture Default under any
Indenture pursuant to which Equipment Notes held by the Trust were
issued.

‘‘Exchange Act’’
means the United States Securities Exchange Act of 1934, as amended
from time to time, or any successor thereto.

‘‘Final Legal Distribution
Date’’ means
___________,
____.

‘‘Final
Withdrawal’’ has the meaning specified in the
Escrow Agreement.

‘‘Final Withdrawal
Date’’ has the meaning specified in the Escrow
Agreement.

‘‘Final Withdrawal
Notice’’ has the meaning specified in
Section  2.02.

‘‘Financing
Documents’’ with respect to any Equipment Note,
means the Indenture and the Participation Agreement relating to such
Equipment Note.

‘‘Fractional Undivided
Interest’’ means the fractional undivided interest
in the Trust that is evidenced by a Certificate relating to such
Trust.

‘‘Funding Date’’
has the meaning specified in the Note Purchase Agreement.

‘‘Funding Notice’’ has the
meaning specified in the Note Purchase Agreement.

‘‘Global Certificates’’
means certificates representing the Book-Entry Certificate delivered to
and held by a Clearing Agency or its nominee.

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‘‘Indenture’’
means each of the separate trust indentures and mortgages relating to
the Aircraft, each as specified or described in a Funding Notice
delivered pursuant to the Note Purchase Agreement or the related
Participation Agreement, in each case as the same may be amended,
supplemented or otherwise modified from time to time in accordance with
its terms.

‘‘Indenture
Default’’ with respect to any Indenture, means any
Event of Default (as such term is defined in such Indenture).

‘‘Intercreditor Agreement’’
means the Intercreditor Agreement dated as of
___________,
____ among the Trustee, the Other Trustees,
the Liquidity Providers, the liquidity providers relating to the
Certificates issued under (and as defined in) the Other Pass Through
Trust Agreements, the Policy Provider, and Wilmington Trust Company, as
Subordination Agent and as trustee thereunder, as amended, supplemented
or otherwise modified from time to time in accordance with its
terms.

‘‘Investors’’
means the Underwriters together with all subsequent beneficial owners
of the Certificates.

‘‘Issuance
Date’’ means the date of the original issuance of
the Certificates.

‘‘Letter of
Representations’’ means, with respect to the
Certificates, an agreement between the Company, the Trustee and the
initial Clearing Agency substantially in the form attached as an
exhibit hereto, as such letter may be modified or supplemented, or any
successor letter thereto.

‘‘Liquidity
Facilities’’ means the Primary Liquidity Facility
and the Above-Cap Liquidity Facility.

‘‘Liquidity Providers’’
means the Primary Liquidity Provider and the Above-Cap Liquidity
Provider.

‘‘Loan
Trustee’’ with respect to any Equipment Note or
the Indenture applicable thereto, means the bank or trust company
designated as trustee under such Indenture, together with any successor
to such trustee appointed pursuant thereto.

‘‘Note Purchase Agreement’’
means the Note Purchase Agreement dated as of
________________
among the Trustee, the Other Trustee, the Company, the Escrow Agent,
the Escrow Paying Agent and the Subordination Agent, providing for,
among other things, the purchase of Equipment Notes by the Trustee on
behalf of the Trust, as the same may be amended, supplemented or
otherwise modified from time to time, in accordance with its terms.

‘‘Notice of Purchase
Withdrawal’’ has the meaning specified in the
Deposit Agreement.

‘‘Officer's
Certificate’’ means a certificate signed
(a)  in the case of the Company, by any Vice President or more
senior officer of the Company or, (b)  in the case of a Loan
Trustee, a Responsible Officer of such Loan Trustee, as the case may
be.

‘‘Opinion of
Counsel’’ means a written opinion of legal counsel
who (a)  in the case of counsel for the Company may be (i)
the General Counsel of the Company, (ii)  Vedder, Price,
Kaufman  & Kammholz, P.C., (iii)  Nixon Peabody LLP or
(iv)  such other counsel designated by the Company and reasonably
acceptable to the Trustee and (b)  in the case of counsel for any
Loan Trustee may be such counsel as may be designated by any of them
whether or not such counsel is an employee of any of them, and who
shall be reasonably acceptable to the Trustee.

‘‘Other Pass Through Trust
Agreements’’ means the other JetBlue Airways
________ Pass
Through Trust Agreements relating to the JetBlue Airways Pass Through
Trust, Series
________ and
the JetBlue Airways Pass Through Trust, Series
________, each
dated the date hereof.

‘‘Other
Trustee’’ means each trustee under the Other Pass
Through Trust Agreements, and any successor or other trustee appointed
as provided therein.

‘‘Other
Trusts’’ means the JetBlue Airways Pass Through
Trust, Series
________ and
JetBlue Airways Pass Through Trust, Series
________ each
created on the date hereof.

‘‘Outstanding’’ when used
with respect to Certificates, means, as of the date of determination,
all Certificates theretofore authenticated and delivered under this
Agreement, except:

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(i)    Certificates
theretofore canceled by the Registrar or delivered to the Trustee or
the Registrar for cancellation;

(ii)    Certificates for which money in the full
amount required to make the final distribution with respect to such
Certificates pursuant to Section  11.01 hereof has been
theretofore deposited with the Trustee in trust for the Holders of such
Certificates as provided in Section  4.01 pending distribution of
such money to such Certificateholders pursuant to payment of such final
distribution; and

(iii)    Certificates in
exchange for or in lieu of which other Certificates have been
authenticated and delivered pursuant to this Agreement.

‘‘Participation Agreement’’
means each Participation Agreement to be entered into by the Trustee
pursuant to the Note Purchase Agreement, as the same may be amended,
supplemented or otherwise modified in accordance with its terms.

‘‘Paying Agent’’ means the
paying agent maintained and appointed for the Certificates pursuant to
Section  7.12.

‘‘Permitted
Investments’’ means obligations of the United
States of America or agencies or instrumentalities thereof for the
payment of which the full faith and credit of the United States of
America is pledged, maturing in not more than 60 days after the date of
acquisition thereof or such lesser time as is required for the
distribution of any Special Payments on a Special Distribution
Date.

‘‘Person’’ means
any person, including any individual, corporation, limited liability
company, partnership, joint venture, association, joint-stock company,
trust, trustee, unincorporated organization, or government or any
agency or political subdivision thereof.

‘‘Policy’’ has the meaning
specified in the Intercreditor Agreement.

‘‘Policy Provider’’ has the
meaning specified in the Intercreditor Agreement.

‘‘Policy Provider
Agreement’’ has the meaning specified in the
Intercreditor Agreement.

‘‘Policy Provider
Amounts’’ has the meaning specified in the
Intercreditor Agreement.

‘‘Policy Provider
Default’’ has the meaning specified in the
Intercreditor Agreement.

‘‘Pool
Balance’’ means, as of any date, (i)  the
original aggregate face amount of the Certificates less (ii)  the
aggregate amount of all payments made in respect of such Certificates
other than payments made in respect of interest, Break Amount or
premium thereon or reimbursement of any costs or expenses incurred in
connection therewith. The Pool Balance as of any Distribution Date
shall be computed after giving effect to the payment of principal, if
any, on the Equipment Notes or other Trust Property held in such Trust
and the distribution thereof to be made on such Distribution Date and
the distribution of the Final Withdrawal to be made on such
Distribution Date.

‘‘Pool
Factor’’ means, as of any date, the quotient
(rounded to the seventh decimal place) computed by dividing (i)
the Pool Balance as at such date by (ii)  the original aggregate
face amount of the Certificates. The Pool Factor as of any Distribution
Date shall be computed after giving effect to the payment of principal,
if any, on the Equipment Notes or other Trust Property and the
distribution thereof to be made on such Distribution Date and the
distribution of the Final Withdrawal to be made on such Distribution
Date.

‘‘Primary Liquidity
Facility’’ means, initially, the Revolving Credit
Agreement dated as of
_______________
relating to the Certificates, between the Primary Liquidity Provider
and the Subordination Agent, as agent and trustee for the Trustee, and,
from and after the replacement of such Agreement pursuant to the
Intercreditor Agreement, the Replacement Primary Liquidity Facility (as
defined in the Intercreditor Agreement) therefor, if any, in each case
as amended, supplemented or otherwise modified from time to time in
accordance with their respective terms.

‘‘Primary Liquidity
Provider’’ means, initially,
____________________
or any Replacement Primary Liquidity Provider which has issued a
Replacement Primary Liquidity Facility (each as 

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defined in the Intercreditor Agreement) to
replace the Class  ____ Primary
Liquidity Facility pursuant to Section
_____ or
_____ of the Intercreditor
Agreement.

‘‘Prospectus’’ means the
prospectus dated
________________,
____, as supplemented by the prospectus
supplement dated
________________,
____, relating to the offer and sale of the
Certificates and the certificates issued under the Other Pass Through
Trust Agreements.

‘‘PTC Event of
Default’’ means any failure to pay within ten
Business Days of the due date thereof: (i)  the outstanding Pool
Balance on the Final Legal Distribution Date (unless the Subordination
Agent shall have made a drawing under the Policy in an aggregate amount
sufficient to pay the outstanding Pool Balance and shall have
distributed such amount to the Trustee) or (ii)  interest due on
the Certificates on any Distribution Date (unless the Subordination
Agent shall have made an Interest Drawing or Drawings (as defined in
the Intercreditor Agreement), a withdrawal or withdrawals pursuant to
Section  ____ of the Intercreditor
Agreement, or a drawing under the Policy, with respect thereto in an
aggregate amount sufficient to pay such interest and shall have
distributed such amount to the Trustee).

‘‘Record Date’’ means
(i)  for Scheduled Payments to be distributed on any Regular
Distribution Date, other than the final distribution,
___________,
___________,
___________
or
___________
(whether or not a Business Day) immediately preceding such Regular
Distribution Date, and (ii)  for Special Payments to be
distributed on any Special Distribution Date, other than the final
distribution, the _____ day (whether
or not a Business Day) preceding such Special Distribution Date.

‘‘Register and Registrar’’
mean the register maintained and the registrar appointed pursuant to
Sections  3.04 and 7.12.

‘‘Regular
Distribution Date’’ with respect to distributions
of Scheduled Payments in respect of the Certificates, means each date
designated as a Regular Distribution Date in the Certificates issued
pursuant to this Agreement, until payment of all the Scheduled Payments
to be made under the Equipment Notes held in the Trust have been made;
provided, however, that, if any such day shall not be
a Business Day, the related distribution shall be made on the next
succeeding Business Day.

‘‘Related Pass
Through Trust Agreement’’ means the Pass Through
Trust Agreement relating to the JetBlue Airways Pass Through Trust,
Series
___________,
dated the date hereof, between the Company and the institution acting
as trustee thereunder, which agreement becomes effective upon the
execution and delivery of the Assignment and Assumption Agreement
pursuant to Section 11.01.

‘‘Related
Trust’’ means the JetBlue Airways Pass Through
Trust, Series
___________,
formed under the Related Pass Through Trust Agreement.

‘‘Related Trustee’’ means
the trustee under the Related Pass Through Trust Agreement.

‘‘Responsible Officer’’ with
respect to the Trustee and any Loan Trustee, means any officer in the
Corporate Trust Office of the Trustee, Loan Trustee or any other
officer customarily performing functions similar to those performed by
the persons who at the time shall be such officers, respectively, or to
whom any corporate trust matter is referred because of his knowledge of
and familiarity with a particular subject.

‘‘Scheduled Payment’’ with
respect to any Equipment Note, means (i)  any payment of
principal or interest on or in respect of such Equipment Note (other
than any such payment which is not in fact received by the
Subordination Agent within ten Business Days of the date on which such
payment is scheduled to be made) due from the obligor thereon or
(ii)  any payment of interest on the Certificates with funds
drawn under any Liquidity Facility or any payment of interest on or
principal of the Certificates with funds drawn under the Policy, which
payment in any such case represents the installment of principal at the
stated maturity of such installment of principal on such Equipment
Note, the payment of regularly scheduled interest accrued on the unpaid
principal amount of such Equipment Note, or both; provided
that any payment of principal, premium, if any, or interest resulting
from the redemption or purchase of any Equipment Note shall not
constitute a Scheduled Payment.

‘‘SEC’’ means the Securities
and Exchange Commission, as from time to time constituted or created
under the United States Securities Exchange Act of 1934, as amended,
or, if at any time after 

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the execution of this instrument such
Commission is not existing and performing the duties now assigned to it
under the Trust Indenture Act, then the body performing such duties on
such date.

‘‘Securities
Act’’ means the United States Securities Act of
1933, as amended from time to time, or any successor thereto.

‘‘Special Distribution
Date’’ means each date on which a Special Payment
is to be distributed as specified in this Agreement; provided,
however, that, if any such day shall not be a Business Day,
the related distribution shall be made on the next succeeding Business
Day.

‘‘Special Payment’’
means any payment (other than a Scheduled Payment) in respect of, or
any proceeds of, any Equipment Note or Collateral (as defined in each
Indenture) or Special Redemption Premium.

‘‘Special Payments Account’’
means the account or accounts created and maintained pursuant to
Section  4.01(b).

‘‘Special Redemption
Premium’’ means the premium payable by the Company
in respect of the Final Withdrawal pursuant to the Note Purchase
Agreement.

‘‘Subordination
Agent’’ has the meaning specified in the
Intercreditor Agreement.

‘‘Substitute
Aircraft’’ has the meaning specified in the Note
Purchase Agreement.

‘‘Tax’’ means all license,
recording, documentary, registration and other similar fees and all
taxes, levies, imposts, duties, charges, assessments or withholdings of
any nature whatsoever imposed by any Taxing Authority, together with
any penalties, additions to tax, fines or interest thereon or additions
thereto.

‘‘Taxing
Authority’’ means any federal, state or local
government or other taxing authority in the United States, any foreign
government or any political subdivision or taxing authority thereof,
any international taxing authority or any territory or possession of
the United States or any taxing authority thereof.

‘‘Transfer Date’’ has the
meaning specified in Section  11.01.

‘‘Triggering Event’’ has the
meaning assigned to such term in the Intercreditor Agreement.

‘‘Trust’’ means the trust
created by this Agreement, the estate of which consists of the Trust
Property.

‘‘Trust Indenture
Act’’ means the United States Trust Indenture Act
of 1939, as amended from time to time, or any successor thereto.

‘‘Trust Property’’ means
(i)  the Equipment Notes held as the property of the Trust and,
subject to the Intercreditor Agreement, all monies at any time paid
thereon and all monies due and to become due thereunder, (ii)
funds from time to time deposited in the Certificate Account and the
Special Payments Account and, subject to the Intercreditor Agreement,
any proceeds from the sale by the Trustee pursuant to Article  VI
hereof of any Equipment Note and (iii)  all rights of the Trust
and the Trustee, on behalf of the Trust, under the Intercreditor
Agreement, the Escrow Agreement, the Note Purchase Agreement, the
Policy and the Liquidity Facilities, including, without limitation, all
rights to receive certain payments thereunder, and all monies paid to
the Trustee on behalf of the Trust pursuant to the Intercreditor
Agreement, the Policy or the Liquidity Facilities, provided
that rights with respect to the Deposits or under the Escrow Agreement,
except for the right to direct withdrawals for the purchase of
Equipment Notes to be held herein, will not constitute Trust
Property.

‘‘Trustee’’
means Wilmington Trust Company, or its successor in interest, and any
successor or other trustee appointed as provided herein.

‘‘Trustee's Liens’’
has the meaning specified in Section  7.17.

‘‘Underwriters’’ means the
several underwriters listed as such in the Underwriting Agreement.

‘‘Underwriting Agreement’’
means the Underwriting Agreement dated
_________,
____ among the Underwriters and the
Company, as the same may be amended, supplemented or otherwise modified
from time to time in accordance with its terms.

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‘‘Unindemnified
Tax’’ means (i)  any Tax imposed on the net
income, net worth or capital, or any franchise Tax or similar doing
business Tax, of the Trustee, (ii)  any withholding Tax imposed
by the United States (including, without limitation, any withholding
Tax imposed by the United States which is imposed or increased as a
result of the Trustee failing to deliver to the Company any certificate
or document necessary to establish that payments under this Agreement
are exempt from withholding Tax), and (iii)  any Avoidable
Tax.

Section 1.02.    Compliance Certificates and
Opinions. Upon any application or request (except with respect to
matters set forth in Article  II) by the Company, any Loan
Trustee to the Trustee to take any action under any provision of this
Agreement, the Company, such Loan Trustee, as the case may be, shall
furnish to the Trustee (i)  an Officer's Certificate
stating that, in the opinion of the signers, all conditions precedent,
if any, provided for in this Agreement relating to the proposed action
have been complied with and (ii)  an Opinion of Counsel stating
that in the opinion of such counsel all such conditions precedent, if
any, have been complied with, except that in the case of any such
application or request as to which the furnishing of such documents is
specifically required by any provision of this Agreement relating to
such particular application or request, no additional certificate or
opinion need be furnished.

Every certificate or opinion with
respect to compliance with a condition or covenant provided for in this
Agreement (other than a certificate provided pursuant to Section
8.04(d)) shall include:

(1)a statement that
each individual signing such certificate or opinion has read such
covenant or condition and the definitions in this Agreement relating
thereto;

(2)a brief statement as to the nature
and scope of the examination or investigation upon which the statements
or opinions contained in such certificate or opinion are based;

(3)a statement that, in the opinion of each such
individual, he has made such examination or investigation as is
necessary to enable him to express an informed opinion as to whether or
not such covenant or condition has been complied with; and

(4)a statement as to whether, in the opinion of
each such individual, such condition or covenant has been complied
with.

Section 1.03.    Form of Documents Delivered
to Trustee. In any case where several matters are required to be
certified by, or covered by an opinion of, any specified Person, it is
not necessary that all such matters be certified by, or covered by the
opinion of, only one such Person, or that they be so certified or
covered by only one document, but one such Person may certify or give
an opinion with respect to some matters and one or more other such
Persons as to other matters and any such Person may certify or give an
opinion as to such matters in one or several documents.

Where
any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or
other instruments under this Agreement or, in respect of the
Certificates, this Agreement, they may, but need not, be consolidated
and form one instrument.

Section
1.04.    Directions of Certificateholders. (a) Any
direction, consent, request, demand, authorization, notice, waiver or
other action provided by this Agreement to be given or taken by
Certificateholders (a ‘‘Direction’’) may
be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Certificateholders in person
or by an agent or proxy duly appointed in writing; and, except as
herein otherwise expressly provided, such action shall become effective
when such instrument or instruments are delivered to the Trustee and,
where it is hereby expressly required pursuant to this Agreement, to
the Company or any Loan Trustee. Proof of execution of any such
instrument or of a writing appointing any such agent or proxy shall be
sufficient for any purpose of this Agreement and conclusive in favor of
the Trustee, the Company and any Loan Trustee, if made in the manner
provided in this Section.

(b)    The fact and date of the
execution by any Person of any such instrument or writing may be proved
by the certificate of any notary public or other officer of any
jurisdiction authorized to take acknowledgments of deeds or administer
oaths that the Person executing such instrument acknowledged to him the
execution thereof, or by an affidavit of a witness to such execution
sworn to 

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before any such notary or such other officer
and where such execution is by an officer of a corporation or
association or a member of a partnership, on behalf of such
corporation, association or partnership, such certificate or affidavit
shall also constitute sufficient proof of his authority. The fact and
date of the execution of any such instrument or writing, or the
authority of the Person executing the same, may also be proved in any
other reasonable manner which the Trustee deems sufficient.

(c)    In determining whether the Certificateholders of the
requisite Fractional Undivided Interests of Certificates Outstanding
have given any Direction under this Agreement, Certificates owned by
the Company or any Affiliate thereof shall be disregarded and deemed
not to be Outstanding for purposes of any such determination. In
determining whether the Trustee shall be protected in relying upon any
such Direction, only Certificates which the Trustee knows to be so
owned shall be so disregarded. Notwithstanding the foregoing,
(i)  if any such Person owns 100% of the Certificates
Outstanding, such Certificates shall not be so disregarded, and
(ii)  if any amount of Certificates so owned by any such Person
have been pledged in good faith, such Certificates shall not be
disregarded if the pledgee establishes to the satisfaction of the
Trustee the pledgee's right so to act with respect to such
Certificates and that the pledgee is not the Company or any Affiliate
thereof.

(d)    For all purposes of this Agreement, all
Certificates shall vote and take all other actions of
Certificateholders together as one series of Certificates.

(e)    The Company may at its option, by delivery of an
Officer's Certificate to the Trustee, set a record date to
determine the Certificateholders entitled to give any Direction.
Notwithstanding Section  316(c) of the Trust Indenture Act, such
record date shall be the record date specified in such Officer's
Certificate, which shall be a date not more than 30 days prior to the
first solicitation of Certificateholders in connection therewith. If
such a record date is fixed, such Direction may be given before or
after such record date, but only the Certificateholders of record at
the close of business on such record date shall be deemed to be
Certificateholders for the purposes of determining whether
Certificateholders of the requisite proportion of Outstanding
Certificates have authorized or agreed or consented to such Direction,
and for that purpose the Outstanding Certificates shall be computed as
of such record date; provided that no such Direction by the
Certificateholders on such record date shall be deemed effective unless
it shall become effective pursuant to the provisions of this Agreement
not later than one year after such record date.

(f)    Any
Direction by the Holder of any Certificate shall bind the Holder of
every Certificate issued upon the transfer thereof or in exchange
therefor or in lieu thereof, whether or not notation of such Direction
is made upon such Certificate.

(g)    Except as otherwise
provided in Section  1.04(c), Certificates owned by or pledged to
any Person shall have an equal and proportionate benefit under the
provisions of this Agreement, without preference, priority or
distinction as among all of the Certificates.

ARTICLE  II

ORIGINAL ISSUANCE OF
CERTIFICATES;
ACQUISITION OF EQUIPMENT NOTES

Section
2.01.    Issuance of Certificates; Acquisition of Equipment
Notes.    (a) The Trustee is hereby directed (i)  to
execute and deliver the Intercreditor Agreement, the Escrow Agreement,
the Policy Provider Agreement and the Note Purchase Agreement on or
prior to the Issuance Date, each in the form delivered to the Trustee
by the Company and (ii)  subject to the respective terms thereof,
to perform its obligations thereunder. Upon request of the Company and
the satisfaction or waiver of the closing conditions specified in the
Underwriting Agreement, the Trustee shall execute, deliver,
authenticate, issue and sell Certificates in authorized denominations
equaling in the aggregate the amount set forth, with respect to the
Trust, in Schedule  ___ to the Underwriting
Agreement evidencing the entire ownership interest in the Trust, which
amount equals the maximum aggregate principal amount of Equipment Notes
which may be purchased by the Trustee pursuant to the Note Purchase
Agreement. Except as provided in Sections  3.04, 3.05, 3.07 and
3.10 hereof, the Trustee shall not execute, authenticate or deliver
Certificates in excess of the aggregate amount specified in this
paragraph.

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(b)    On or after the Issuance Date,
the Company may deliver from time to time to the Trustee a Funding
Notice relating to one or more Equipment Notes. After receipt of a
Funding Notice and in any case no later than one Business Day prior to
a Funding Date as to which such Funding Notice relates (the
‘‘Applicable Funding Date’’) (or, if the
Issuance Date is an Applicable Funding Date, on the Issuance Date), the
Trustee shall (as and when specified in the Funding Notice) instruct
the Escrow Agent to provide a Notice of Purchase Withdrawal to the
Depositary requesting (A)  the withdrawal of one or more Deposits
on the Applicable Funding Date in accordance with and to the extent
permitted by the terms of the Escrow Agreement and the Deposit
Agreement and (B)  the payment of all, or a portion, of such
Deposit or Deposits in an amount equal in the aggregate to the purchase
price of such Equipment Notes to or on behalf of the Company, as the
case may be, issuing such Equipment Notes, all as shall be described in
the Funding Notice; provided that, if the Issuance Date is an
Applicable Funding Date, such purchase price shall be paid from a
portion of the proceeds of the sale of the Certificates. The Trustee
shall (as and when specified in such Funding Notice), subject to the
conditions set forth in Section  ___ of the
Note Purchase Agreement, enter into and perform its obligations under
the Participation Agreement specified in such Funding Notice (the
‘‘Applicable Participation Agreement’’)
and cause such certificates, documents and legal opinions relating to
the Trustee to be duly delivered as required by the Applicable
Participation Agreement. If at any time prior to the Applicable Funding
Date, the Trustee receives a notice of postponement pursuant to
Section  ___ of the Note Purchase Agreement,
then the Trustee shall give the Depositary (with a copy to the Escrow
Agent) a notice of cancellation of such Notice of Purchase Withdrawal
relating to such Deposit or Deposits on such Applicable Funding Date.
Upon satisfaction of the conditions specified in the Note Purchase
Agreement and the Applicable Participation Agreement, the Trustee shall
purchase the applicable Equipment Notes with the proceeds of the
withdrawals of one or more Deposits made on the Applicable Funding Date
in accordance with the terms of the Deposit Agreement and the Escrow
Agreement (or, if the Issuance Date is the Applicable Funding Date with
respect to such Applicable Participation Agreement, from a portion of
the proceeds of the sale of the Certificates). The purchase price of
such Equipment Notes shall equal the principal amount of such Equipment
Notes. Amounts withdrawn from such Deposit or Deposits in excess of the
purchase price of the Equipment Notes or to the extent not applied on
the Applicable Funding Date to the purchase price of the Equipment
Notes, shall be re-deposited by the Trustee with the Depositary on the
Applicable Funding Date in accordance with the terms of the Deposit
Agreement.

Section 2.02.    Withdrawal of
Deposits.    If any Deposits remain outstanding on the Business
Day next succeeding the Cut-Off Date, (i) (A)  the Trustee shall
give the Escrow Agent notice that the Trustee's obligation to
purchase Equipment Notes under the Note Purchase Agreement has
terminated and instruct the Escrow Agent to provide a notice of Final
Withdrawal to the Depositary substantially in the form of
Exhibit  ___ to the Deposit Agreement (the
‘‘Final Withdrawal Notice’’) and
(B)  the Trustee will make a demand upon the Company under the
Note Purchase Agreement for an amount equal to the Special Redemption
Premium, if applicable, such payment to be made on the Final Withdrawal
Date.

Section 2.03.    Acceptance by
Trustee.    The Trustee, upon the execution and delivery of this
Agreement, acknowledges its acceptance of all right, title and interest
in and to the Trust Property and declares that the Trustee holds and
will hold such right, title and interest for the benefit of all then
present and future Certificateholders, upon the trusts herein set
forth. Subject to Section  7.14, the Trustee shall take all
actions reasonably necessary to effect the registration of all such
Equipment Notes in the name of the Subordination Agent. By its payment
for and acceptance of each Certificate issued to it under this
Agreement, each Certificateholder as grantor of the Trust thereby joins
in the creation and declaration of the Trust.

Section
2.04.    Limitation of Powers.    The Trust is
constituted solely for the purpose of making the investment in the
Equipment Notes, and, except as set forth herein, the Trustee shall not
be authorized or empowered to acquire any other investments or engage
in any other activities including without limitation purchasing any
Equipment Note issued in connection with the redemption of outstanding
Equipment Notes under any Indenture and, in particular, the Trustee
shall not be authorized or empowered to do anything that would cause
such Trust to fail to qualify as a ‘‘grantor 

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trust’’ for federal income tax
purposes (including as subject to this restriction, acquiring any
Aircraft (as defined in the respective Indentures) by bidding such
Equipment Notes or otherwise, or taking any action with respect to any
such Aircraft once acquired).

ARTICLE
III

THE CERTIFICATES

Section
3.01.    Title, Form, Denomination and Execution of
Certificates.    (a) Each Certificate will represent a
Fractional Undivided Interest in the Trust, shall be issued in fully
registered form without coupons and shall be substantially in the form
set forth as Exhibit  A hereto, with such appropriate insertions,
omissions, substitutions and other variations as are required or
permitted by this Agreement and may have such letters, numbers or other
marks of identification and such legends or endorsements placed thereon
as may be required to comply with the rules of any securities exchange
or as may, consistently herewith, be determined by the Trustee or the
officers executing such Certificates, as evidenced by the
Trustee's or officer's execution of the Certificates
(provided that such letters, numbers or other marks of identification
and such legends or endorsements are in a form acceptable to the
Company). Any portion of the text of any Certificate may be set forth
on the reverse thereof, with an appropriate reference thereto on the
face of the Certificate. At the Escrow Agent's request under the
Escrow Agreement, the Trustee shall affix the corresponding Escrow
Receipt to each Certificate. In any event, any transfer or exchange of
any Certificate shall also effect a transfer or exchange of the related
Escrow Receipt. Prior to the Final Withdrawal Date, no transfer or
exchange of any Certificate shall be permitted unless the corresponding
Escrow Receipt is attached thereto and also is so transferred or
exchanged. By acceptance of any Certificate to which an Escrow Receipt
is attached, each Holder of such a Certificate acknowledges and accepts
the restrictions on transfer of the Escrow Receipt set forth herein and
in the Escrow Agreement.

(b)    The Certificates shall be
issued only in fully registered form without coupons and only in
minimum denominations of $1,000 and integral multiples of $1,000 in
excess thereof, except that one Certificate may be issued in a
different denomination. Each Certificate shall be dated the date of its
authentication. The aggregate Fractional Undivided Interest of
Certificates shall not at any time exceed
$___________.

(c)    The Certificates shall be in registered form and shall be
typed, printed, lithographed or engraved or produced by any combination
of these methods or may be produced in any other manner, all as
determined by the officers executing such Certificates, as evidenced by
their execution of such Certificates.

Section
3.02.    Restrictive Legends.    Each Global
Certificate shall bear the following legend on the face thereof:

UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (‘‘DTC’’), TO THE TRUSTEE OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IN EXCHANGE FOR THIS CERTIFICATE IS REGISTERED IN
THE NAME OF CEDE  & CO. OR IN SUCH OTHER NAME AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE
TO CEDE  & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH
AS THE REGISTERED OWNER HEREOF, CEDE  & CO., HAS AN INTEREST
HEREIN.

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TRANSFERS OF THIS
CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR'S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS CERTIFICATE SHALL BE LIMITED
TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN
SECTION  3.05 OF THE PASS THROUGH TRUST AGREEMENT REFERRED TO
HEREIN.

Section 3.03.    Authentication of
Certificates.    (a) On the Issuance Date, the Trustee shall
duly execute, authenticate and deliver Certificates in authorized
denominations equaling in the aggregate the amount set forth, with
respect to the Trust, in Schedule  ___ to
the Underwriting Agreement, evidencing the entire ownership of the
Trust, which amount equals the maximum aggregate principal amount of
Equipment Notes which may be purchased by the Trustee pursuant to the
Note Purchase Agreement.

(b)    No Certificate shall be
entitled to any benefit under this Agreement or be valid or obligatory
for any purpose, unless there appears on such Certificate a certificate
of authentication substantially in the form provided for herein
executed by the Trustee by the manual signature of one of its
authorized signatories, and such certificate upon any Certificate shall
be conclusive evidence, and the only evidence, that such Certificate
has been duly authenticated and delivered hereunder.

(c)    Certificates bearing the manual or facsimile signature of
an individual who was, at the time when such signature was affixed,
authorized to sign on behalf of the Trustee shall be valid and binding
obligations of the Trust notwithstanding that such individual has
ceased to be so authorized prior to the authentication and delivery of
such Certificates or did not hold such office on the date of such
Certificates.

Section 3.04.    Transfer and
Exchange.    The Trustee shall cause to be kept at the office or
agency to be maintained by it in accordance with the provisions of
Section  7.12 a register (the
‘‘Register’’) of the Certificates in
which, subject to such reasonable regulations as it may prescribe, the
Trustee shall provide for the registration of such Certificates and of
transfers and exchanges of such Certificates as herein provided. The
Trustee shall initially be the registrar (the
‘‘Registrar’’) for the purpose of
registering such Certificates and transfers and exchanges of such
Certificates as herein provided. The Company, upon notice to the
Trustee, may change the Registrar at any time.

All Certificates
issued upon any registration of transfer or exchange of Certificates
shall be valid obligations of the Trust, evidencing the same interest
therein, and entitled to the same benefits under this Trust Agreement,
as the Certificates surrendered upon such registration of transfer or
exchange.

A Certificateholder may transfer a Certificate, or
request that a Certificate be exchanged for Certificates in an
aggregate Fractional Undivided Interest equal to the Fractional
Undivided Interest of such Certificate surrendered for exchange of
other authorized denominations, by surrender of such Certificate to the
Trustee with the form of transfer notice thereon duly completed and
executed, and otherwise complying with the terms of this Agreement,
including providing evidence of compliance with any restrictions on
transfer, in form satisfactory to the Trustee and the Registrar. No
such transfer shall be effected until, and such transferee shall
succeed to the rights of a Certificateholder only upon, final
acceptance and registration of the transfer by the Registrar in the
Register. Prior to the registration of any transfer by a
Certificateholder as provided herein, the Trustee shall treat the
person in whose name the Certificate is registered as the owner thereof
for all purposes, and the Trustee shall not be affected by notice to
the contrary. Furthermore, DTC shall, by acceptance of a Global
Certificate, agree that transfers of beneficial interests in such
Global Certificate may be effected only through a book-entry system
maintained by DTC (or its agent) and that ownership of a beneficial
interest in the Certificate shall be required to be reflected in a book
entry. When Certificates are presented to the Registrar with a request
to register the transfer thereof or to exchange them for other
authorized denominations of a Certificate in a Fractional Undivided
Interest equal to the aggregate Fractional Undivided Interest of
Certificates surrendered for exchange, the Registrar shall register the
transfer or make the exchange as requested if its requirements for such
transactions are met.

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To permit registrations of transfers and
exchanges in accordance with the terms, conditions and restrictions
hereof, the Trustee shall execute and authenticate Certificates at the
Registrar's request. No service charge shall be made to a
Certificateholder for any registration of transfer or exchange of
Certificates, but the Trustee shall require payment of a sum sufficient
to cover any tax or governmental charge that may be imposed in
connection with any transfer or exchange of Certificates. All
Certificates surrendered for registration of transfer or exchange shall
be canceled and subsequently destroyed by the Trustee.

Section 3.05.    Global, Book-Entry and Definitive
Certificates.    (a)   Except for one Certificate that may
be issued in a denomination of other than an even multiple of $1,000,
except as provided in the following sentence, the Certificates may be
issued at the option of the Company in the form of one or more
typewritten Global Certificates representing the Book-Entry
Certificates of such class, to be delivered to DTC, the initial
Clearing Agency, by the Trustee on behalf of the related Trust. In the
case of the issuance of Global Certificates, such Global Certificates
delivered to DTC shall initially be registered on the Register in the
name of Cede  & Co., the nominee of the initial Clearing
Agency, and no Certificate Owner will receive a definitive certificate
representing such Certificate Owner's interest in the
Certificates, except as provided in Subsection  (d) below. As to
Global Certificates, unless and until definitive, fully registered
Certificates (the ‘‘Definitive
Certificates’’) have been issued pursuant to
Subsection  (d) below:

(i)    the
provisions of this Section  3.05 shall be in full force and
effect;

(ii)    the Company, the Paying
Agent, the Registrar and the Trustee may deal with the Clearing Agency
for all purposes (including the making of distributions on the Global
Certificates);

(iii)    to the extent that
the provisions of this Section  3.05 conflict with any other
provisions of this Agreement, the provisions of this Section
3.05 shall control;

(iv)    the rights of
Certificate Owners shall be exercised only through the Clearing Agency
and shall be limited to those established by law and agreements between
such Certificate Owners and the Clearing Agency and/or the Clearing
Agency Participants; and until Definitive Certificates are issued
pursuant to Subsection  (d) below, the Clearing Agency will make
book-entry transfers in respect of the Book-Entry Certificates among
the Clearing Agency Participants and receive and transmit distributions
of principal, interest and premium, if any, on the Global Certificates
to such Clearing Agency Participants;

(v)    Global Certificates may be transferred in
whole, but not in part, and in the manner provided in Section
3.04, by the Clearing Agency holding such Global Certificates to a
nominee of such Clearing Agency, or by such Clearing Agency to a
successor Clearing Agency that has been selected or approved by the
Company or to a nominee of such successor Clearing Agency; and

(vi)    whenever this Agreement requires or
permits actions to be taken based upon instructions or directions of
Certificateholders evidencing a specified percentage of the Fractional
Undivided Interests in the Trust, the Clearing Agency shall be deemed
to represent such percentage only to the extent that it has received
instructions to such effect from Clearing Agency Participants owning or
representing, respectively, such required percentage of the Book-Entry
Certificates and has delivered such instructions to the Trustee.
Neither the Company nor the Trustee shall have any obligation to
determine whether the Clearing Agency has in fact received any such
instructions.

(b)    Whenever notice or other communication to
the Certificateholders is required under this Agreement, unless and
until Definitive Certificates shall have been issued pursuant to
Subsection  (d) below, the Trustee shall give all such notices
and communications specified herein to be given to Certificateholders
to the Clearing Agency.

(c)    The Trustee shall enter into
the applicable Letter of Representations with respect to the Global
Certificates and fulfill its responsibilities thereunder.

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(d)    If with respect to the Global
Certificates (i)  the Company advises the Trustee in writing that
the Clearing Agency that holds such Global Certificates is no longer
willing or able to discharge properly its responsibilities and the
Trustee or the Company is unable to locate a qualified successor,
(ii)  the Company, at its option, advises the Trustee in writing
that it elects to terminate the book-entry system through the Clearing
Agency or (iii)  after the occurrence of an Event of Default,
Certificate Owners of Book-Entry Certificates evidencing Fractional
Undivided Interests aggregating not less than a majority in interest in
the Trust, by Act of such Certificate Owners delivered to the Company
and the Trustee, advise the Company, the Trustee and the Clearing
Agency through the Clearing Agency Participants in writing that the
continuation of a book-entry system through the Clearing Agency
Participants is no longer in the best interests of the Certificate
Owners, then the Trustee shall notify all Certificate Owners, through
the Clearing Agency, of the occurrence of any such event and of the
availability of Definitive Certificates. Upon surrender to the Trustee
of all the Global Certificates held by the Clearing Agency, accompanied
by registration instructions from the Clearing Agency Participants for
registration of Definitive Certificates in the names of Certificate
Owners, the Trustee shall issue and deliver the Definitive Certificates
in accordance with the instructions of the Clearing Agency. Neither the
Company, the Registrar, the Paying Agent nor the Trustee shall be
liable for any delay in delivery of such instructions and may
conclusively rely on, and shall be protected in relying on, such
registration instructions. Upon the issuance of Definitive
Certificates, the Trustee shall recognize the Persons in whose names
the Definitive Certificates are registered in the Register as
Certificateholders hereunder. Neither the Company nor the Trustee shall
be liable if the Trustee or the Company is unable to locate a qualified
successor Clearing Agency.

(e)    Until such time as no
Certificates remain Outstanding, the Registrar shall retain copies of
all letters, notices and other written communications received pursuant
to this Section  3.05. The Trustee, if not the Registrar at such
time, shall have the right to inspect and make copies of all such
letters, notices or other written communications at any reasonable time
upon the giving of reasonable written notice to the Registrar.

Section 3.06.    [Intentionally Omitted.]

Section 3.07.    Mutilated, Destroyed, Lost or Stolen
Certificates.    If (a)  any mutilated Certificate is
surrendered to the Registrar or the Registrar receives evidence to its
satisfaction of the destruction, loss or theft of any Certificate and
(b)  there is delivered to the Registrar and the Trustee such
security, indemnity or bond, as may be required by them to save each of
them harmless, then, in the absence of notice to the Registrar or the
Trustee that such destroyed, lost or stolen Certificate has been
acquired by a protected purchaser, and provided that the requirements
of Section  8-405 of the Uniform Commercial Code in effect in any
applicable jurisdiction are met, the Trustee shall execute,
authenticate and deliver, in exchange for or in lieu of any such
mutilated, destroyed, lost or stolen Certificate, a new Certificate or
Certificates, in authorized denominations and of like Fractional
Undivided Interest and bearing a number not contemporaneously
outstanding.

In connection with the issuance of any new
Certificate under this Section  3.07, the Trustee may require the
payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in relation thereto and any other expenses
(including the fees and expenses of the Trustee and the Registrar)
connected therewith.

Any duplicate Certificate issued pursuant
to this Section  3.07 shall constitute conclusive evidence of the
appropriate Fractional Undivided Interest in the Trust, as if
originally issued, whether or not the lost, stolen or destroyed
Certificate shall be found at any time.

The provisions of this
Section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Certificates.

Section
3.08.    Persons Deemed Owners.    Prior to due
presentment of a Certificate for registration of transfer, the Trustee,
the Registrar and any Paying Agent may treat the Person in whose name
any Certificate is registered (as of the day of determination) as the
owner of such 

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Certificate for the purpose of receiving
distributions pursuant to Article  IV and for all other purposes
whatsoever, and none of the Trustee, the Registrar or any Paying Agent
shall be affected by any notice to the contrary.

Section
3.09.    Cancellation.    All Certificates surrendered
for payment or transfer or exchange shall, if surrendered to the
Trustee or any agent of the Trustee other than the Registrar, be
delivered to the Registrar for cancellation and shall promptly be
canceled by it. No Certificates shall be authenticated in lieu of or in
exchange for any Certificates canceled as provided in this Section,
except as expressly permitted by this Agreement. All canceled
Certificates held by the Registrar shall be destroyed and a
certification of their destruction delivered to the Trustee.

Section 3.10.    Temporary
Certificates.    Until Definitive Certificates are ready for
delivery, the Trustee shall authenticate temporary Certificates.
Temporary Certificates shall be substantially in the form of Definitive
Certificates but may have insertions, substitutions, omissions and
other variations determined to be appropriate by the officers executing
the temporary Certificates, as evidenced by their execution of such
temporary Certificates. If temporary Certificates are issued, the
Trustee will cause Definitive Certificates to be prepared without
unreasonable delay. After the preparation of Definitive Certificates,
the temporary Certificates shall be exchangeable for Definitive
Certificates upon surrender of the temporary Certificates at the office
or agency of the Trustee designated for such purpose pursuant to
Section  7.12, without charge to the Certificateholder. Upon
surrender for cancellation of any one or more temporary Certificates,
the Trustee shall execute, authenticate and deliver in exchange
therefor a like face amount of Definitive Certificates of authorized
denominations. Until so exchanged, the temporary Certificates shall be
entitled to the same benefits under this Agreement as Definitive
Certificates.

Section 3.11.    Limitation of
Liability for Payments.    All payments and distributions made
to Certificateholders in respect of the Certificates shall be made only
from the Trust Property and only to the extent that the Trustee shall
have sufficient income or proceeds from the Trust Property to make such
payments in accordance with the terms of Article  IV of this
Agreement. Each Certificateholder, by its acceptance of a Certificate,
agrees that it will look solely to the income and proceeds from the
Trust Property for any payment or distribution due to such
Certificateholder pursuant to the terms of this Agreement and that it
will not have any recourse to the Company, the Trustee, the Loan
Trustees, the Liquidity Providers or the Policy Provider, except as
otherwise expressly provided herein or in the Intercreditor
Agreement.

The Company is a party to this Agreement solely for
purposes of meeting the requirements of the Trust Indenture Act, and
therefore shall not have any right, obligation or liability hereunder
(except as otherwise expressly provided herein).

Section
3.12.    ERISA Legend.    All Certificates issued
pursuant to this Agreement shall bear a legend to the following effect
(the ‘‘ERISA Legend’’) unless the
Company and the Trustee determine otherwise consistent with applicable
law:

‘‘BY ITS ACQUISITION HEREOF,
THE HOLDER REPRESENTS THAT (A)  NO PLAN ASSETS HAVE BEEN USED TO
PURCHASE THIS CERTIFICATE OR AN INTEREST HEREIN OR (B)  THE
PURCHASE AND HOLDING OF THIS CERTIFICATE OR AN INTEREST HEREIN IS
EXEMPT FROM THE PROHIBITED TRANSACTION RESTRICTIONS OF ERISA AND THE
CODE PURSUANT TO ONE OR MORE PROHIBITED TRANSACTION STATUTORY OR
ADMINISTRATIVE EXEMPTIONS. THE PASS THROUGH TRUST AGREEMENT CONTAINS A
PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF
THIS CERTIFICATE IN VIOLATION OF THE FOREGOING
RESTRICTIONS.’’

By acceptance of any Certificate
bearing the ERISA Legend, each Holder of such a Certificate
acknowledges the restrictions on transfer of such Certificate set forth
in this Agreement and agrees that it will transfer such Certificate
only as provided in this Agreement. The Trustee shall not register a
transfer of any Certificate unless such transfer complies with the
restrictions on transfer, if any, of such Certificate set forth in such
legend.

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ARTICLE
IV

DISTRIBUTIONS; STATEMENTS TO
CERTIFICATEHOLDERS

Section 4.01.    Certificate Account and Special
Payments Account.    (a) The Trustee shall establish and
maintain on behalf of the Certificateholders a Certificate Account as
one or more non-interest-bearing accounts. The Trustee shall hold the
Certificate Account in trust for the benefit of the Certificateholders,
and shall make or permit withdrawals therefrom only as provided in this
Agreement. On each day when a Scheduled Payment is made to the Trustee
under the Intercreditor Agreement, the Trustee upon receipt thereof
shall immediately deposit the aggregate amount of such Scheduled
Payment in the Certificate Account.

(b)    The Trustee shall
establish and maintain on behalf of the Certificateholders a Special
Payments Account as one or more accounts, which shall be non-interest
bearing except as provided in Section  4.04. The Trustee shall
hold the Special Payments Account in trust for the benefit of the
Certificateholders and shall make or permit withdrawals therefrom only
as provided in this Agreement. On each day when one or more Special
Payments are made to the Trustee under the Intercreditor Agreement and
upon the payment of the Special Redemption Premium to the Trustee under
the Note Purchase Agreement, the Trustee, upon receipt thereof, shall
immediately deposit the aggregate amount of such Special Payments in
the Special Payments Account.

(c)    The Trustee shall cause
the Subordination Agent to present to the related Loan Trustee of each
Equipment Note such Equipment Note on the date of its stated final
maturity or, in the case of any Equipment Note which is to be redeemed
in whole pursuant to the related Indenture, on the applicable
redemption date under such Indenture.

Section
4.02.    Distributions from Certificate Account and Special
Payments Account.    (a) On each Regular Distribution Date or as
soon thereafter as the Trustee has confirmed receipt of the payment of
all or any part of the Scheduled Payments due on such date, the Trustee
shall distribute out of the Certificate Account the entire amount
deposited therein pursuant to Section  4.01(a). There shall be so
distributed to each Certificateholder of record on the Record Date with
respect to such Regular Distribution Date (other than as provided in
Section  11.01 concerning the final distribution) by check mailed
to such Certificateholder, at the address appearing in the Register,
such Certificateholder's pro rata share (based on the Fractional
Undivided Interest in the Trust held by such Certificateholder) of the
total amount in the Certificate Account, except that, with respect to
Certificates registered on the Record Date in the name of Cede &
Co., as nominee for DTC, such distribution shall be made by wire
transfer in immediately available funds to the account designated by
DTC.

(b)    On each Special Distribution Date with respect to
any Special Payment or as soon thereafter as the Trustee has confirmed
receipt of any Special Payments due on the Equipment Notes held in the
related Trust or realized upon the sale of such Equipment Notes or
receipt of the Special Redemption Premium, the Trustee shall distribute
out of the Special Payments Account the entire amount of such Special
Payment deposited therein pursuant to Section  4.01(b). There
shall be so distributed to each Certificateholder of record on the
Record Date with respect to such Special Distribution Date (other than
as provided in Section  11.01 concerning the final distribution)
by check mailed to such Certificateholder, at the address appearing in
the Register, such Certificateholder's pro rata share (based on
the Fractional Undivided Interest in the Trust held by such
Certificateholder) of the total amount in the Special Payments Account
on account of such Special Payment, except that, with respect to
Certificates registered on the Record Date in the name of Cede &
Co., as nominee for DTC, such distribution shall be made by wire
transfer in immediately available funds to the account designated by
DTC.

(c)    The Trustee shall cause notice of each Special
Payment to be mailed to each Certificateholder at his address as it
appears in the Register. In the event of redemption or purchase of
Equipment Notes held in the Trust, such notice shall be mailed not less
than 20 days prior to the Special Distribution Date for the Special
Payment resulting from such redemption or purchase, which 

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Special Distribution Date shall be the date
of such redemption or purchase. In the event of the payment of a
Special Redemption Premium by the Company to the Trustee under the Note
Purchase Agreement, such notice shall be mailed, together with the
notice by the Escrow Paying Agent under Section
____ of the Escrow Agreement, not less than
20 days prior to the Special Distribution Date for such amount, which
Special Distribution Date shall be the Final Withdrawal Date. In the
case of distributions pursuant to Section
____ of the Intercreditor Agreement, the
Trustee will mail notice to the Certificateholders stating the Special
Distribution Date, the related Record Date, the amount of such
distribution and the reason for such distribution. In the case of any
other Special Payments, such notice shall be mailed as soon as
practicable after the Trustee has confirmed that it has received funds
for such Special Payment, stating the Special Distribution Date for
such Special Payment which shall occur not less than 20 days after the
date of such notice and as soon as practicable thereafter. Notices
mailed by the Trustee shall set forth:

(i)    the Special Distribution Date and the
Record Date therefor (except as otherwise provided in Section
11.01),

(ii)    the amount of the Special
Payment for each $1,000 face amount Certificate and the amount thereof
constituting principal, premium, if any, and interest,

(iii)    the reason for the Special Payment,
and

(iv)    if the Special Distribution Date
is the same date as a Regular Distribution Date, the total amount to be
received on such date for each $1,000 face amount Certificate.

If the amount of (i)  premium, if any, payable upon the
redemption or purchase of an Equipment Note or (ii)  the Special
Redemption Premium, if any, has not been calculated at the time that
the Trustee mails notice of a Special Payment, it shall be sufficient
if the notice sets forth the other amounts to be distributed and states
that any premium received will also be distributed.

If any
redemption of the Equipment Notes held in the Trust is canceled, the
Trustee, as soon as possible after learning thereof, shall cause notice
thereof to be mailed to each Certificateholder at its address as it
appears on the Register.

Section
4.03.    Statements to
Certificateholders.    (a)  On each Distribution Date, the
Trustee will include with each distribution to Certificateholders of a
Scheduled Payment or Special Payment, as the case may be, a statement
setting forth the information provided below (in the case of a Special
Payment, including any Special Redemption Premium, reflecting in part
the information provided by the Escrow Paying Agent under the Escrow
Agreement). Such statement shall set forth (per $1,000 face amount
Certificate as to (ii), (iii), (iv) and (v) below) the following
information:

(i)    the aggregate amount of
funds distributed on such Distribution Date hereunder and under the
Escrow Agreement, indicating the amount allocable to each source
including any portion thereof paid by the Liquidity Providers and/or
the Policy Provider;

(ii)    the amount of
such distribution hereunder allocable to principal and the amount
allocable to Break Amount (as defined in the Intercreditor Agreement)
and premium (including the Special Redemption Premium), if any;

(iii)    the amount of such distribution
hereunder allocable to interest;

(iv)    the
amount of such distribution under the Escrow Agreement allocable to
interest;

(v)    the amount of such
distribution under the Escrow Agreement allocable to unused
Deposits;

(vi)    the Pool Balance and the
Pool Factor; and

(vii)    Three-Month LIBOR
for the current and immediately preceding Interest Periods.

With
respect to the Certificates registered in the name of Cede & Co.,
as nominee for DTC, on the Record Date prior to each Distribution Date,
the Trustee will request that DTC post on its Internet bulletin board a
securities position listing setting forth the names of all Agent
Members 

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reflected on DTC's books as holding
interests in the Certificates on such Record Date. On each Distribution
Date, the Trustee shall mail to each such Agent Members the statement
described above and will make available additional copies as requested
by such Agent Members for forwarding to holders of interests in the
Certificates.

(b)    Within a reasonable period of time after
the end of each calendar year but not later than the latest date
permitted by law, the Trustee shall furnish to each Person who at any
time during such calendar year was a Certificateholder of record a
statement containing the sum of the amounts determined pursuant to
clauses (a)(i), (a)(ii), (a)(iii), (a)(iv) and (a)(v) above for such
calendar year or, in the event such Person was a Certificateholder of
record during a portion of such calendar year, for such portion of such
year, and such other items as are readily available to the Trustee and
which a Certificateholder shall reasonably request as necessary for the
purpose of such Certificateholder's preparation of its federal
income tax returns. Such statement and such other items shall be
prepared on the basis of information supplied to the Trustee by the
Agent Members and shall be delivered by the Trustee to such Agent
Members to be available for forwarding by such Agent Members to the
holders of interests in the Certificates in the manner described in
Section  4.03(a).

(c)    Promptly following (i)
any change in the information set forth in clauses (x), (y) and (z)
below from that set forth in page
_____ of the Prospectus, and
(ii)  any early redemption or purchase of, or any default in the
payment of principal or interest in respect of, any of the Equipment
Notes held in the Trust, or any Final Withdrawal, the Trustee shall
furnish to Certificateholders of record on such date a statement
setting forth (x) the expected Pool Balances for each subsequent
Regular Distribution Date following the Delivery Period Termination
Date, (y) the related Pool Factors for such Regular Distribution Dates
and (z) the expected principal distribution schedule of the Equipment
Notes, in the aggregate, held as Trust Property at the date of such
notice. With respect to the Certificates registered in the name of Cede
& Co., as nominee for DTC, on the Delivery Period Termination Date,
the Trustee will request that DTC post on its Internet bulletin board a
securities position listing setting forth the names of all Agent
Members reflected on DTC's books as holding interests in the
Certificates on such date. The Trustee will mail to each such Agent
Member the statement described above and will make available additional
copies as requested by such Agent Member for forwarding to holders of
interests in the Certificates.

Section
4.04.    Investment of Special Payment Moneys.    Any
money received by the Trustee pursuant to Section  4.01(b)
representing a Special Payment which is not distributed on the date
received shall, to the extent practicable, be invested in Permitted
Investments by the Trustee pending distribution of such Special Payment
pursuant to Section  4.02. Any investment made pursuant to this
Section  4.04 shall be in such Permitted Investments having
maturities not later than the date that such moneys are required to be
used to make the payment required under Section  4.02 on the
applicable Special Distribution Date and the Trustee shall hold any
such Permitted Investments until maturity. The Trustee shall have no
liability with respect to any investment made pursuant to this
Section  4.04, other than by reason of the willful misconduct or
negligence of the Trustee. All income and earnings from such
investments shall be distributed on such Special Distribution Date as
part of such Special Payment.

ARTICLE
V

THE COMPANY

Section 5.01.    Maintenance
of Corporate Existence.    The Company, at its own cost and
expense, will do or cause to be done all things necessary to preserve
and keep in full force and effect its corporate existence, except as
permitted by Section  5.02.

Section
5.02.    Consolidation, Merger, etc.    The Company
shall not consolidate with or merge into any other Person under
circumstances in which the Company is not the surviving corporation, or
convey, transfer or lease in one or more transactions all or
substantially all of its assets to any other Person, unless:

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(a)    such Person is organized,
existing and in good standing under the Laws of the United States, any
State of the United States or the District of Columbia and, upon
consummation of such transaction, such Person will be a U.S. Air
Carrier (as defined in the Financing Documents); and

(b)    the Person formed by such consolidation or into which the
Company is merged or the Person which acquires by conveyance, transfer
or lease substantially all of the assets of the Company as an entirety
shall execute and deliver to the Trustee a duly authorized, valid,
binding and enforceable agreement in form and substance reasonably
satisfactory to the Trustee containing an assumption by such successor
corporation or Person of the due and punctual performance and
observance of each covenant and condition of this Agreement, the Other
Pass Through Trust Agreement and each Financing Document to be
performed or observed by the Company.

Upon any consolidation or
merger, or any conveyance, transfer or lease of substantially all of
the assets of the Company as an entirety in accordance with this
Section  5.02, the successor corporation or Person formed by such
consolidation or into which the Company is merged or to which such
conveyance, transfer or lease is made shall succeed to, and be
substituted for, and may exercise every right and power of, the Company
under this Agreement with the same effect as if such successor
corporation or Person had been named as the Company herein. No such
conveyance, transfer or lease of substantially all of the assets of the
Company as an entirety shall have the effect of releasing any successor
corporation or Person which shall have become such in the manner
prescribed in this Section  5.02 from its liability in respect of
this Agreement and any Financing Document to which it is a party.

ARTICLE VI

DEFAULT

Section
6.01.    Events of Default. (a) Exercise of
Remedies.    Upon the occurrence and during the continuation of
any Indenture Default under any Indenture, with ten days' written
notice to the Trustee and each Certificateholder, the Trustee may, to
the extent it is the Controlling Party at such time (as determined
pursuant to the Intercreditor Agreement), direct the exercise of
remedies as provided in the Intercreditor Agreement.

(b)    Purchase Rights of Certificateholders.    By
acceptance of its Certificate, each Certificateholder agrees that at
any time after the occurrence and during the continuation of a
Triggering Event,

[(i)    each Class
__ Certificateholder shall have the right to purchase
all, but not less than all, of the Certificates and the Class
__-__ Certificates upon ten days'
written notice to the Trustee, the Other Trustees and each other Class
__ Certificateholder, provided that (A)
if prior to the end of such ten-day period any other Class
__ Certificateholder notifies such purchasing Class
__ Certificateholder that such other Class
__ Certificateholder wants to participate in such
purchase, then such other Class __ Certificateholder may
join with the purchasing Class __ Certificateholder to
purchase all, but not less than all, of the Certificates and the Class
__-__ Certificates pro rata based on the
Fractional Undivided Interest in the Class __ Trust held
by each such Class __ Certificateholder and (B)  if
prior to the end of such ten-day period any other Class
__ Certificateholder fails to notify the purchasing Class
__ Certificateholder of such other Class __
Certificateholder's desire to participate in such a purchase,
then such other Class __ Certificateholder shall lose its
right to purchase the Certificates and the Class
__-__ Certificates pursuant to this
Section  6.01(b); and

(ii)    whether
or not any Class __ Certificateholders exercise their
right to purchase pursuant to clause (i) above, the Policy Provider, if
it is then the Controlling Party, shall have the right to purchase all,
but not less than all, of the Certificates and the Class
__-__ Certificates upon ten days'
written notice to the Trustee, the Other Trustee and the
Certificateholders; provided, that if any Class __
Certificateholder has previously exercised the right to purchase all of
the Class __-__ and Class
__-__ Certificates, such holder may refuse
to sell the Class __-__ and Class

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__-__
Certificates to the Policy Provider if all of the holders of the Class
__-__ and Class
__-__ Certificateholders release the Policy
Provider from all of its obligations under the Policies with respect to
such Class __-__ and Class
__-__ Certificates (and return or cause the
return of such Policies to the Policy Provider); provided, further,
that such holder may not refuse such sale so long as (x)  all
Policy Provider Amounts have not been paid in full and (y)
sixteen months have passed from the occurrence of the initial
Triggering Event.

The purchase price with respect to the
Certificates and the Class __-__
Certificates shall be equal to the Pool Balance of the Certificates,
together with accrued and unpaid interest thereon to the date of such
purchase, plus Break Amount, if any, and including any other amounts
then due and payable to the Certificateholders under this Agreement,
the Intercreditor Agreement, the Escrow Agreement or any Financing
Document or on or in respect of the Certificates plus the
amount payable in connection with the purchase of the Class
__-__ Certificates pursuant to Section
6.01(b) of the Other Pass Through Trust Agreement for the Class
__-__ Certificates; provided,
however, that (i)  if such purchase occurs after the
record date specified in Section
_____ of the Escrow Agreement
relating to the distribution of unused Deposits and accrued and unpaid
interest thereunder, such purchase price shall be reduced by the
aggregate amount of unused Deposits and interest to be distributed
under the Escrow Agreement (which deducted amounts shall remain
distributable to, and may be retained by, the Certificateholder as of
such Record Date) and (ii)  if such purchase occurs after a
Record Date, such purchase price shall be reduced by the amount to be
distributed hereunder on the related Distribution Date (which deducted
amounts shall remain distributable to, and may be retained by, the
Certificateholder as of such Record Date); provided,
further, that no such purchase of Certificates shall be
effective unless the purchaser(s) shall certify to the Trustee that
contemporaneously with such purchase, such purchaser(s) is purchasing,
pursuant to the terms of this Agreement all of the Certificates and
pursuant to the Other Pass Through Trust Agreement relating to the
Class __-__ Certificates, all of the Class
__-__ Certificates. Each payment of the
purchase price of the Certificates referred to in the first sentence
hereof shall be made to an account or accounts designated by the
Trustee and relevant Other Trustee, as applicable, and each such
purchase shall be subject to the terms of this Section  6.01(b).
Each Certificateholder agrees by its acceptance of its Certificate that
it will, subject to Section  3.04 hereof, upon payment from such
Class __ Certificateholder(s) or the Policy Provider, as
the case may be, of the purchase price set forth in the first sentence
of this paragraph, forthwith sell, assign, transfer and convey to the
purchaser(s) thereof (without recourse, representation or warranty of
any kind except for its own acts), all of the right, title, interest
and obligation of such Certificateholder in this Agreement, the Escrow
Agreement, the Deposit Agreement, the Intercreditor Agreement, the
Liquidity Facilities, the Policy, the Financing Documents and all
Certificates and Escrow Receipts held by such Certificateholder
(excluding all right, title and interest under any of the foregoing to
the extent such right, title or interest is with respect to an
obligation not then due and payable as respects any action or inaction
or state of affairs occurring prior to such sale) and the purchaser
shall assume all of such Certificateholder's obligations under
this Agreement, the Escrow Agreement, the Deposit Agreement, the
Intercreditor Agreement, the Liquidity Facilities, the Policy, the
Financing Documents and all such Certificates and Escrow Receipts. The
Certificates will be deemed to be purchased on the date payment of the
purchase price is made notwithstanding the failure of the
Certificateholders to deliver any Certificates (whether in the form of
Definitive Certificates or beneficial interests in Global Certificates)
and, upon such a purchase, (i)  the only rights of the
Certificateholders will be to deliver the Certificates to the
purchaser(s) and receive the purchase price for such Certificates and
(ii)  if the purchaser(s) shall so request, such
Certificateholder will comply with all the provisions of Section
3.04 hereof to enable new Certificates to be issued to the purchaser in
such denominations as it shall request. All charges and expenses in
connection with the issuance of any such new Certificates shall be
borne by the purchaser thereof.

As used in this Section
6.01(b), the terms ‘‘Class __
Certificate’’, ‘‘Class __
Certificateholder’’, ‘‘Class
__ Trust’’, and ‘‘Class
__ Trustee’’ shall have the respective
meanings assigned to such terms in the Intercreditor
Agreement.]

[OR]

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[(i)    each
Certificateholder shall have the right to purchase all, but not less
than all, of the Class __ Certificates and the Class
__ Certificates upon ten days' written notice to
the Trustee, the Other Trustees and each other Certificateholder,
provided that (A) if prior to the end of such ten-day period any other
Certificateholder notifies such purchasing Certificateholder that such
other Certificateholder wants to participate in such purchase, then
such other Certificateholder may join with the purchasing
Certificateholder to purchase all, but not less than all, of the Class
__ Certificates and the Class __
Certificates pro rata based on the Fractional Undivided Interest in the
Trust held by each such Certificateholder and (B) if prior to the end
of such ten-day period any other Certificateholder fails to notify the
purchasing Class __ Certificateholder of such other
Certificateholder's desire to participate in such a purchase,
then such other Certificateholder shall lose its right to purchase the
Class __ Certificates and the Class __
Certificates pursuant to this Section 6.01(b); and

(ii)    whether or not any Certificateholders
exercise their right to purchase pursuant to clause (i) above, the
Policy Provider, if it is then the Controlling Party, shall have the
right to purchase all, but not less than all, of the Class
___ Certificates and the Class __
Certificates upon ten days' written notice to the Other Trustees
and the Class __ and Class __
Certificateholders; provided, that if any Certificateholder has
previously exercised the right to purchase all of the Class
__ and Class __ Certificates, such holder
may refuse to sell the Class __ and Class
__ Certificates to the Policy Provider if all of the
holders of the Class __ and Class __
Certificateholders release the Policy Provider from all of its
obligations under the Policies with respect to such Class
__ and Class __ Certificates (and return or
cause the return of such Policies to the Policy Provider); provided,
further, that such holder may not refuse such sale so long as
(x)  all Policy Provider Amounts have not been paid in full and
(y) sixteen months have passed from the occurrence of the initial
Triggering Event.

The purchase price with respect to the Class
__ Certificates and the Class __
Certificates shall be the amounts set forth in Section 6.01(b) of the
Other Pass Through Trust Agreements. Such purchase shall be subject to
the terms set forth in Section 6.01(b) of the Other Pass Through Trust
Agreements.]

Section 6.02.    Incidents of
Sale of Equipment Notes.    Upon any sale of all or any part of
the Equipment Notes made either under the power of sale given under
this Agreement or otherwise for the enforcement of this Agreement, the
following shall be applicable:

(1)    Certificateholders and Trustee May
Purchase Equipment Notes.    Any Certificateholder, the Trustee
in its individual or any other capacity or any other Person may bid for
and purchase any of the Equipment Notes, and upon compliance with the
terms of sale, may hold, retain, possess and dispose of such Equipment
Notes in their own absolute right without further accountability.

(2)    Receipt of Trustee Shall Discharge
Purchaser.    The receipt of the Trustee making such sale shall
be a sufficient discharge to any purchaser for his purchase money, and,
after paying such purchase money and receiving such receipt, such
purchaser or its personal representative or assigns shall not be
obliged to see to the application of such purchase money, or be in any
way answerable for any loss, misapplication or non-application
thereof.

(3)    Application of Moneys
Received upon Sale.    Any moneys collected by the Trustee upon
any sale made either under the power of sale given by this Agreement or
otherwise for the enforcement of this Agreement shall be applied as
provided in Section  4.02.

Section
6.03.    Judicial Proceedings Instituted by Trustee; Trustee
May  Bring Suit.    If there shall be a failure to make
payment of the principal of, premium, if any, or interest on any
Equipment Note, then the Trustee, in its own name and as trustee of an
express trust, as holder of such Equipment Notes, to the extent
permitted by and in accordance with the terms of the Intercreditor
Agreement and the Financing Documents, shall be entitled and empowered
to institute any suits, actions or proceedings at law, in equity or
otherwise, for the collection of the sums so due and unpaid on such
Equipment Notes and may prosecute any such claim or proceeding to
judgment or final decree with respect to the whole amount of any such
sums so due and unpaid.

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Section 6.04.    Control by
Certificateholders.    Subject to Section  6.03 and the
Intercreditor Agreement, the Certificateholders holding Certificates
evidencing Fractional Undivided Interests aggregating not less than a
majority in interest in the Trust shall have the right to direct the
time, method and place of conducting any proceeding for any remedy
available to the Trustee with respect to the Trust or pursuant to the
terms of the Intercreditor Agreement, or exercising any trust or power
conferred on the Trustee under this Agreement or the Intercreditor
Agreement, including any right of the Trustee as Controlling Party
under the Intercreditor Agreement or as holder of the Equipment Notes,
provided that:

(1)    such Direction
shall not be in conflict with any rule of law or with this Agreement
and would not involve the Trustee in personal liability or expense,

(2)    the Trustee shall not determine that the
action so directed would be unjustly prejudicial to the
Certificateholders not taking part in such Direction, and

(3)    the Trustee may take any other action
deemed proper by the Trustee which is not inconsistent with such
Direction.

Section 6.05.    Waiver of Past
Defaults.    Subject to the Intercreditor Agreement, the
Certificateholders holding Certificates evidencing Fractional Undivided
Interests aggregating not less than a majority in interest in the Trust
(i)  may on behalf of all of the Certificateholders waive any
past Event of Default hereunder and its consequences or (ii)  if
the Trustee is the Controlling Party, may direct the Trustee to
instruct the applicable Loan Trustee to waive any past Indenture
Default under any Indenture and its consequences, and thereby annul any
Direction given by such Certificateholders or the Trustee to such Loan
Trustee with respect thereto, except a default:

(1)    in the deposit of any Scheduled Payment or
Special Payment under Section  4.01 or in the distribution of any
payment under Section  4.02 on the Certificates, or

(2)    in the payment of the principal of
(premium, if any) or interest on the Equipment Notes, or

(3)    in respect of a covenant or provision
hereof which under Article  IX cannot be modified or amended
without the consent of each Certificateholder holding an Outstanding
Certificate affected thereby.

Upon any such waiver, such default
shall cease to exist with respect to the Certificates and any Event of
Default arising therefrom shall be deemed to have been cured for every
purpose and any direction given by the Trustee on behalf of the
Certificateholders to the relevant Loan Trustee shall be annulled with
respect thereto; but no such waiver shall extend to any subsequent or
other default or Event of Default or impair any right consequent
thereon. Upon any such waiver, the Trustee shall vote the Equipment
Notes issued under the relevant Indenture to waive the corresponding
Indenture Default.

Section 6.06.    Right of
Certificateholders to Receive Payments Not to Be
Impaired.    Anything in this Agreement to the contrary
notwithstanding, including, without limitation, Section  6.07
hereof, but subject to the Intercreditor Agreement, the right of any
Certificateholder to receive distributions of payments required
pursuant to Section  4.02 hereof on the Certificates when due, or
to institute suit for the enforcement of any such payment on or after
the applicable Regular Distribution Date or Special Distribution Date,
shall not be impaired or affected without the consent of such
Certificateholder.

Section
6.07.    Certificateholders May Not Bring Suit Except Under
Certain Conditions.    A Certificateholder shall not have the
right to institute any suit, action or proceeding at law or in equity
or otherwise with respect to this Agreement, for the appointment of a
receiver or for the enforcement of any other remedy under this
Agreement, unless:

(1)    such
Certificateholder previously shall have given written notice to the
Trustee of a continuing Event of Default;

(2)    Certificateholders holding Certificates
evidencing Fractional Undivided Interests aggregating not less than
25% of the Trust shall have requested the Trustee in writing to
institute such action, suit or proceeding and shall have offered to the
Trustee indemnity as provided in Section  7.03(e);

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(3)    the Trustee
shall have refused or neglected to institute such an action, suit or
proceeding for 60 days after receipt of such notice, request and offer
of indemnity; and

(4)    no direction
inconsistent with such written request shall have been given to the
Trustee during such 60-day period by Certificateholders holding
Certificates evidencing Fractional Undivided Interests aggregating not
less than a majority in interest in the Trust.

It is understood
and intended that no one or more of the Certificateholders shall have
any right in any manner whatsoever hereunder or under the Certificates
to (i)  surrender, impair, waive, affect, disturb or prejudice
any property in the Trust Property or the lien of any Indenture on any
property subject thereto, or the rights of the Certificateholders or
the holders of the Equipment Notes, (ii)  obtain or seek to
obtain priority over or preference with respect to any other such
Certificateholder or (iii)  enforce any right under this
Agreement, except in the manner herein provided and for the equal,
ratable and common benefit of all the Certificateholders subject to the
provisions of this Agreement.

Section
6.08.    Remedies Cumulative.    Every remedy given
hereunder to the Trustee or to any of the Certificateholders shall not
be exclusive of any other remedy or remedies, and every such remedy
shall be cumulative and in addition to every other remedy given
hereunder or now or hereafter given by statute, law, equity or
otherwise.

ARTICLE  VII

THE
TRUSTEE

Section 7.01.    Certain Duties and
Responsibilities.    (a) Except during the continuation of an
Event of Default, the Trustee undertakes to perform such duties as are
specifically set forth in this Agreement, and no implied covenants or
obligations shall be read into this Agreement against the Trustee.

(b)    In case an Event of Default has occurred and is continuing,
the Trustee shall exercise such of the rights and powers vested in it
by this Agreement, and use the same degree of care and skill in their
exercise, as a prudent man would exercise or use under the
circumstances in the conduct of its own affairs.

(c)    No
provision of this Agreement shall be construed to relieve the Trustee
from liability for its own negligent action, its own negligent failure
to act, or its own willful misconduct, except that

(1)    this Subsection shall not be construed to
limit the effect of Subsection (a)  of this Section; and

(2)    the Trustee shall not be liable for any
error of judgment made in good faith by a Responsible Officer of the
Trustee, unless it shall be proved that the Trustee was negligent in
ascertaining the pertinent facts.

(d)    Whether or not herein
expressly so provided, every provision of this Trust Agreement relating
to the conduct or affecting the liability of or affording protection to
the Trustee shall be subject to the provisions of this Section.

Section 7.02.    Notice of Defaults.    As
promptly as practicable after, and in any event within 90 days after,
the occurrence of any default (as such term is defined below)
hereunder, the Trustee shall transmit by mail to the Company, the Loan
Trustees and the Certificateholders in accordance with Section
313(c) of the Trust Indenture Act, notice of such default hereunder
known to the Trustee, unless such default shall have been cured or
waived; provided, however, that, except in the case
of a default on the payment of the principal, premium, if any, or
interest on any Equipment Note held in the Trust, the Trustee shall be
protected in withholding such notice if and so long as the board of
directors, the executive committee or a trust committee of directors
and/or Responsible Officers of the Trustee in good faith determine that
the withholding of such notice is in the best interests of the
Certificateholders. For the purpose of this Section, the term
‘‘default’’ means any event that is, or
after notice or lapse of time or both would become, an Event of
Default.

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Section 7.03.    Certain
Rights of Trustee.    Subject to the provisions of
Section  315 of the Trust Indenture Act:

(a)    the
Trustee may rely and shall be protected in acting or refraining from
acting in reliance upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent,
order, bond, debenture or other paper or document believed by it to be
genuine and to have been signed or presented by the proper party or
parties;

(b)    any request or direction of the Company
mentioned herein shall be sufficiently evidenced by a written
description of the subject matter thereof accompanied by an
Officer's Certificate and an Opinion of Counsel as provided in
Section  1.02 of this Agreement;

(c)    whenever in the
administration of this Agreement the Trustee shall deem it desirable
that a matter be proved or established prior to taking, suffering or
omitting any action hereunder, the Trustee (unless other evidence be
herein specifically prescribed) may, in the absence of bad faith on its
part, rely upon an Officer's Certificate of the Company or any
Loan Trustee;

(d)    the Trustee may consult with counsel and
the advice of such counsel or any Opinion of Counsel shall be full and
complete authorization and protection in respect of any action taken,
suffered or omitted by it hereunder in good faith and in reliance
thereon;

(e)    the Trustee shall be under no obligation to
exercise any of the rights or powers vested in it by this Agreement at
the Direction of any of the Certificateholders pursuant to this
Agreement, unless such Certificateholders shall have offered to the
Trustee reasonable security or indemnity against the cost, expenses and
liabilities which might be incurred by it in compliance with such
Direction;

(f)    the Trustee shall not be bound to make any
investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, bond, debenture or other paper or
document;

(g)    the Trustee may execute any of the trusts or
powers under this Agreement or perform any duties under this Agreement
either directly or by or through agents or attorneys, and the Trustee
shall not be responsible for any misconduct or negligence on the part
of any agent or attorney appointed with due care by it under this
Agreement;

(h)    the Trustee shall not be liable with respect
to any action taken or omitted to be taken by it in good faith in
accordance with the Direction of the Certificateholders holding
Certificates evidencing Fractional Undivided Interests aggregating not
less than a majority in interest in the Trust relating to the time,
method and place of conducting any proceeding for any remedy available
to the Trustee, or exercising any trust or power conferred upon the
Trustee, under this Agreement; and

(i)    the Trustee shall
not be required to expend or risk its own funds in the performance of
any of its duties under this Agreement, or in the exercise of any of
its rights or powers, if it shall have reasonable grounds for believing
that repayment of such funds or adequate indemnity against such risk is
not reasonably assured to it.

Section 7.04.    Not
Responsible for Recitals or Issuance of Certificates.    The
recitals contained herein and in the Certificates, except the
certificates of authentication, shall not be taken as the statements of
the Trustee, and the Trustee assumes no responsibility for their
correctness. Subject to Section  7.15, the Trustee makes no
representations as to the validity or sufficiency of this Agreement,
any Equipment Notes, the Intercreditor Agreement, the Deposit
Agreement, the Escrow Agreement, the Certificates or any other
Financing Document, except that the Trustee hereby represents and
warrants that this Agreement has been, and the Intercreditor Agreement,
the Note Purchase Agreement, the Escrow Agreement and each Certificate
will be, executed, authenticated and delivered by one of its officers
who is duly authorized to execute, authenticate and deliver such
document on its behalf.

Section 7.05.    May
Hold Certificates.    The Trustee, any Paying Agent, Registrar
or any of their Affiliates or any other agent in their respective
individual or any other capacity may become the owner or pledgee of
Certificates and, subject to Sections  310(b) and 311 of the
Trust Indenture Act, if 

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applicable, may otherwise deal with the
Company or the Loan Trustees with the same rights it would have if it
were not Trustee, Paying Agent, Registrar or such other agent.

Section 7.06.    Money Held in Trust.    Money
held by the Trustee or the Paying Agent in trust hereunder need not be
segregated from other funds except to the extent required herein or by
law and neither the Trustee nor the Paying Agent shall have any
liability for interest upon any such moneys except as provided for
herein.

Section 7.07.    Compensation and
Reimbursement.    The Company agrees:

(1)    to pay, or cause to be paid, to the
Trustee from time to time reasonable compensation for all services
rendered by it hereunder as set forth in a written fee letter dated the
date hereof between the Company and the Trustee, which letter is
incorporated herein by reference (which compensation shall not be
limited by any provision of law in regard to the compensation of a
trustee of an express trust);

(2)    except
as otherwise expressly provided herein, to reimburse, or cause to be
reimbursed, the Trustee upon its request for all reasonable
out-of-pocket expenses, disbursements and advances incurred or made by
the Trustee in accordance with any provision of this Agreement
(including the reasonable compensation and the expenses and
disbursements of its agents and counsel), except any such expense,
disbursement or advance as may be attributable to its undertaking its
normal administrative functions, or its negligence, willful misconduct
or bad faith or as may be incurred due to the Trustee's breach of
its representations and warranties set forth in Section  7.15;
and

(3)    to indemnify, or cause to be
indemnified, the Trustee for, and to hold it harmless against, any
loss, liability, expense or Tax (other than for or with respect to any
Unindemnified Tax) incurred without gross negligence, willful
misconduct or bad faith, on its part, arising out of or in connection
with the acceptance or administration of this Trust, including the
costs and expenses of defending itself against any claim or liability
in connection with the exercise or performance of any of its powers or
duties hereunder, except for any such loss, liability or expense
incurred by reason of the Trustee's breach of its covenants
hereunder or under any Financing Document to which it is a party or its
representations and warranties set forth in Section  7.15 or in
any other Financing Document, the authorization or giving or
withholding of any future amendments, supplements, waivers or consents
with respect hereto or any of the Financing Documents, which
amendments, supplements, waivers or consents are not required pursuant
to the terms of the Financing Documents and not requested by the
Company, any loss of tax benefits, any Unindemnified Tax, or increase
in tax liability under any tax law whether or not the Company is
required to indemnify thereof or pursuant to this Agreement or any
costs associated with overhead or normal administration hereunder or
any voluntary resignation pursuant to Section  7.09.

With
respect to paragraph (3) above, the Trustee shall notify the Company
promptly of any claim for which it may seek indemnity and the Company
shall make payment on any such claim within 30 days of written demand
thereof (delivered together with supporting documentation). The Company
shall defend the claim and the Trustee shall cooperate in the defense.
The Trustee may have separate counsel with the consent of the Company
and the Company will pay the reasonable fees and expenses of such
counsel. The Company need not pay for any settlement made, in
settlement or otherwise, without its consent.

With respect to
any Tax other than an Unindemnified Tax, the Trustee shall be entitled
to reimbursement from, and shall have a lien prior to the Certificates
upon, the Trust Property for any such Tax incurred without negligence,
bad faith or willful misconduct, on its part, arising out of or in
connection with the acceptance or administration of such Trust (other
than any Tax attributable to the Trustee's compensation for
serving as such), including any costs and expenses incurred in
contesting the imposition of any such Tax. If the Trustee reimburses
itself from the Trust Property of such Trust for any such Tax, it will
mail a brief report within 30 days setting forth the circumstances
thereof to all Certificateholders as their names and addresses appear
in the Register.

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Section 7.08.    Corporate
Trustee Required; Eligibility.    There shall at all times be a
Trustee hereunder which shall be eligible to act as a trustee under
Section  310(a) of the Trust Indenture Act and shall have a
combined capital and surplus of at least $75,000,000 (or a combined
capital and surplus in excess of $5,000,000 and the obligations of
which, whether now in existence or hereafter incurred, are fully and
unconditionally guaranteed by a corporation organized and doing
business under the laws of the United States, any state or territory
thereof or of the District of Columbia and having a combined capital
and surplus of at least $75,000,000). If such corporation publishes
reports of conditions at least annually, pursuant to law or to the
requirements of federal, state, territorial or District of Columbia
supervising or examining authority, then for the purposes of this
Section  7.08, the combined capital and surplus of such
corporation shall be deemed to be its combined capital and surplus as
set forth in its most recent report of conditions so published.

In case at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section  7.08 to act as
Trustee, the Trustee shall resign immediately as Trustee in the manner
and with the effect specified in Section  7.09.

Section
7.09.    Resignation and Removal; Appointment of
Successor.    (a) No resignation or removal of the Trustee and
no appointment of a successor Trustee pursuant to this Article
shall become effective until the acceptance of appointment by the
successor Trustee under Section  7.10.

(b)    The
Trustee may resign at any time as trustee by giving prior written
notice thereof to the Company, the Authorized Agents and the Loan
Trustees. If an instrument of acceptance by a successor Trustee shall
not have been delivered to the Company, the Authorized Agents, the Loan
Trustees and the Trustee within 30 days after the giving of such notice
of resignation, the resigning Trustee may petition any court of
competent jurisdiction for the appointment of a successor Trustee.

(c)    The Trustee may be removed at any time by Direction of the
Certificateholders holding Certificates evidencing Fractional Undivided
Interests aggregating not less than a majority in interest in the Trust
delivered to the Trustee and to the Company and the Loan Trustees.

(d)    If at any time:

(1)    the
Trustee shall fail to comply with Section  310 of the Trust
Indenture Act, if applicable, after written request therefor by the
Company or by any Certificateholder who has been a bona fide
Certificateholder for at least six months; or

(2)    the Trustee shall cease to be eligible
under Section  7.08 and shall fail to resign after written
request therefor by the Company or by any such Certificateholder;
or

(3)    the Trustee shall become incapable
of acting or shall be adjudged a bankrupt or insolvent or a receiver of
the Trustee or of its property shall be appointed or any public officer
shall take charge or control of the Trustee or of its property or
affairs for the purpose of rehabilitation, conservation or
liquidation;

then, in any case, (i)  the Company may
remove the Trustee or (ii)  any Certificateholder who has been a
bona fide Certificateholder for at least six months may, on behalf of
itself and all others similarly situated, petition any court of
competent jurisdiction for the removal of the Trustee and the
appointment of a successor Trustee.

(e)    If a Responsible
Officer of the Trustee shall obtain actual knowledge of an Avoidable
Tax which has been or is likely to be asserted, the Trustee shall
promptly notify the Company and shall, within 30 days of such
notification, resign hereunder unless within such 30-day period the
Trustee shall have received notice that the Company has agreed to pay
such tax. The Company shall promptly appoint a successor Trustee in a
jurisdiction where there are no Avoidable Taxes.

(f)    If the
Trustee shall resign, be removed or become incapable of acting or if a
vacancy shall occur in the office of the Trustee for any cause, the
Company shall promptly appoint a successor Trustee. If, within one year
after such resignation, removal or incapability, or other occurrence of
such vacancy, a successor Trustee shall be appointed by Direction of
the Certificateholders holding Certificates evidencing Fractional
Undivided Interests aggregating not less than a majority in interest

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in the Trust delivered to the Company, the
Loan Trustees and the retiring Trustee, and the Company approves such
appointment, which approval shall not be unreasonably withheld, then
the successor Trustee so appointed shall, forthwith upon its acceptance
of such appointment, become the successor Trustee and supersede the
successor Trustee appointed as provided above. If no successor Trustee
shall have been so appointed as provided above and accepted appointment
in the manner hereinafter provided, any Certificateholder who has been
a bona fide Certificateholder for at least six months may, on behalf of
himself and all others similarly situated, petition any court of
competent jurisdiction for the appointment of a successor Trustee.

(g)    The successor Trustee shall give notice of the resignation
and removal of the Trustee and appointment of the successor Trustee by
mailing written notice of such event by first-class mail, postage
prepaid, to the Certificateholders as their names and addresses appear
in the Register. Each notice shall include the name of such successor
Trustee and the address of its Corporate Trust Office.

Section 7.10.    Acceptance of Appointment by
Successor.    Every successor Trustee appointed hereunder shall
execute and deliver to the Company, the Authorized Agents and the Loan
Trustees and to the retiring Trustee an instrument accepting such
appointment, and thereupon the resignation or removal of the retiring
Trustee shall become effective and such successor Trustee, without any
further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee; but, on
request of the Company or the successor Trustee, such retiring Trustee
shall execute and deliver an instrument transferring to such successor
Trustee all such rights, powers and trusts of the retiring Trustee and
shall duly assign, transfer and deliver to such successor Trustee all
Trust Property held by such retiring Trustee hereunder, subject
nevertheless to its lien, if any, provided for in Section  7.07.
Upon request of any such successor Trustee, the Company, the retiring
Trustee and such successor Trustee shall execute and deliver any and
all instruments containing such provisions as shall be necessary or
desirable to transfer and confirm to, and for more fully and certainly
vesting in, such successor Trustee all such rights, powers and
trusts.

No institution shall accept its appointment as a Trustee
hereunder unless at the time of such acceptance such institution shall
be qualified and eligible under this Article  VII.

Section 7.11.    Merger, Conversion, Consolidation or
Succession to Business.    Any corporation into which the
Trustee may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion
or consolidation to which the Trustee shall be a party, or any
corporation succeeding to all or substantially all of the corporate
trust business of the Trustee, shall be the successor of the Trustee
hereunder, provided such corporation shall be otherwise
qualified and eligible under this Article  VII, without the
execution or filing of any paper or any further act on the part of any
of the parties hereto. In case any Certificates shall have been
executed or authenticated, but not delivered, by the Trustee then in
office, any successor by merger, conversion or consolidation to such
authenticating Trustee may adopt such execution or authentication and
deliver the Certificates so executed or authenticated with the same
effect as if such successor Trustee had itself executed or
authenticated such Certificates.

Section
7.12.    Maintenance of Agencies.    (a) There shall
at all times be maintained an office or agency in the location set
forth in Section  12.03 where Certificates may be presented or
surrendered for registration of transfer or for exchange, and for
payment thereof and where notices and demands to or upon the Trustee in
respect of such certificates or this Agreement may be served;
provided, however, that, if it shall be necessary
that the Trustee maintain an office or agency in another location
(e.g., the Certificates shall be represented by Definitive
Certificates and shall be listed on a national securities exchange),
the Trustee will make all reasonable efforts to establish such an
office or agency. Written notice of the location of each such other
office or agency and of any change of location thereof shall be given
by the Trustee to the Company, the Loan Trustees (in the case of any
Loan Trustee, at its address specified in the Financing Documents or
such other address as may be notified to the Trustee) and the
Certificateholders. In the event that no such office or agency shall be
maintained or no such notice of location or of change of location shall
be given, presentations and demands may be made and notices may be
served at the Corporate Trust Office of the Trustee.

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(b)    There shall at all times be a
Registrar and a Paying Agent hereunder with respect to the
Certificates. Each such Authorized Agent shall be a bank or trust
company, shall be a corporation organized and doing business under the
laws of the United States or any state, with a combined capital and
surplus of at least $75,000,000, or, if the Trustee shall be acting as
the Registrar or Paying Agent hereunder, a corporation having a
combined capital and surplus in excess of $5,000,000, the obligations
of which are guaranteed by a corporation organized and doing business
under the laws of the United States or any state, with a combined
capital and surplus of at least $75,000,000, and shall be authorized
under such laws to exercise corporate trust powers, subject to
supervision by Federal or state authorities. The Trustee shall
initially be the Paying Agent and, as provided in Section  3.04,
Registrar hereunder with respect to the Certificates. Each Registrar
shall furnish to the Trustee, at stated intervals of not more than six
months, and at such other times as the Trustee may request in writing,
a copy of the Register maintained by such Registrar.

(c)    Any corporation into which any Authorized Agent may be
merged or converted or with which it may be consolidated, or any
corporation resulting from any merger, consolidation or conversion to
which any Authorized Agent shall be a party, or any corporation
succeeding to the corporate trust business of any Authorized Agent,
shall be the successor of such Authorized Agent hereunder, if such
successor corporation is otherwise eligible under this Section, without
the execution or filing of any paper or any further act on the part of
the parties hereto or such Authorized Agent or such successor
corporation.

(d)    Any Authorized Agent may at any time
resign by giving written notice of resignation to the Trustee, the
Company and the Loan Trustees. The Company may, and at the request of
the Trustee shall, at any time terminate the agency of any Authorized
Agent by giving written notice of termination to such Authorized Agent
and to the Trustee. Upon the resignation or termination of an
Authorized Agent or in case at any time any such Authorized Agent shall
cease to be eligible under this Section  (when, in either case,
no other Authorized Agent performing the functions of such Authorized
Agent shall have been appointed), the Company shall promptly appoint
one or more qualified successor Authorized Agents, reasonably
satisfactory to the Trustee, to perform the functions of the Authorized
Agent which has resigned or whose agency has been terminated or who
shall have ceased to be eligible under this Section. The Company shall
give written notice of any such appointment made by it to the Trustee
and the Loan Trustees; and in each case the Trustee shall mail notice
of such appointment to all Certificateholders as their names and
addresses appear on the Register.

(e)    The Company agrees to
pay, or cause to be paid, from time to time to each Authorized Agent
reasonable compensation for its services and to reimburse it for its
reasonable expenses as set forth in the letter agreement referred to in
Section  7.07 hereof.

Section 7.13.    Money
for Certificate Payments to Be Held in Trust.    All moneys
deposited with any Paying Agent for the purpose of any payment on
Certificates shall be deposited and held in trust for the benefit of
the Certificateholders entitled to such payment, subject to the
provisions of this Section. Moneys so deposited and held in trust shall
constitute a separate trust fund for the benefit of the
Certificateholders with respect to which such money was deposited.

The Trustee may at any time, for the purpose of obtaining the
satisfaction and discharge of this Agreement or for any other purpose,
direct any Paying Agent to pay to the Trustee all sums held in trust by
such Paying Agent, such sums to be held by the Trustee upon the same
trusts as those upon which such sums were held by such Paying Agent;
and, upon such payment by any Paying Agent to the Trustee, such Paying
Agent shall be released from all further liability with respect to such
money.

Section 7.14.    Registration of Equipment
Notes in Name of Subordination Agent.    The Trustee agrees that
all Equipment Notes to be purchased by the Trust shall be issued in the
name of the Subordination Agent or its nominee and held by the
Subordination Agent in trust for the benefit of the Certificateholders,
or, if not so held, the Subordination Agent or its nominee shall be
reflected as the owner of such Equipment Notes in the register of the
issuer of such Equipment Notes.

Section
7.15.    Representations and Warranties of
Trustee.    The Trustee hereby represents and warrants that:

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(a)    the Trustee is a Delaware
banking corporation organized and validly existing in good standing
under the laws of the State of Delaware;

(b)    the Trustee
has full power, authority and legal right to execute, deliver, and
perform this Agreement, the Intercreditor Agreement, the Escrow
Agreement, the Note Purchase Agreement and the Financing Documents to
which it is a party and has taken all necessary action to authorize the
execution, delivery, and performance by it of this Agreement, the
Intercreditor Agreement, the Escrow Agreement, the Note Purchase
Agreement and the Financing Documents to which it is a party;

(c)    the execution, delivery and performance by the Trustee of
this Agreement, the Intercreditor Agreement, the Escrow Agreement, the
Note Purchase Agreement and the Financing Documents to which it is a
party (i)  will not violate any provision of United States
federal law or the law of the State of Delaware where it is located
governing the banking and trust powers of the Trustee or any order,
writ, judgment, or decree of any court, arbitrator or governmental
authority applicable to the Trustee or any of its assets, (ii)
will not violate any provision of the articles of association or
by-laws of the Trustee, or (iii)  will not violate any provision
of, or constitute, with or without notice or lapse of time, a default
under, or result in the creation or imposition of any lien on any
properties included in the Trust Property pursuant to the provisions of
any mortgage, indenture, contract, agreement or other undertaking to
which it is a party, which violation, default or lien could reasonably
be expected to have an adverse effect on the Trustee's
performance or ability to perform its duties hereunder or thereunder or
on the transactions contemplated herein or therein;

(d)    the
execution, delivery and performance by the Trustee of this Agreement,
the Intercreditor Agreement, the Escrow Agreement, the Note Purchase
Agreement, and the Financing Documents to which it is a party will not
require the authorization, consent, or approval of, the giving of
notice to, the filing or registration with, or the taking of any other
action in respect of, any governmental authority or agency of the
United States or the State of Delaware regulating the banking and
corporate trust activities of the Trustee;

(e)    this
Agreement, the Intercreditor Agreement, the Escrow Agreement, the Note
Purchase Agreement, and the Financing Documents to which it is a party
have been duly executed and delivered by the Trustee and constitute the
legal, valid, and binding agreements of the Trustee, enforceable
against it in accordance with their respective terms, provided that
enforceability may be limited by (i)  applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting the
rights of creditors generally and (ii)  general principles of
equity, regardless of whether applied in a proceeding in equity or at
law; and

(f)    the statements made by it in a Statement of
Eligibility on Form  T-1 supplied or to be supplied to the
Company in connection with the registration of any Certificates are and
will be true and accurate subject to the qualifications set forth
therein; and that such statement complies and will comply in all
material respects with the requirements of the Trust Indenture Act and
the Securities Act.

Section 7.16.    Withholding
Taxes Information Reporting.    (a) The Trustee, as trustee of
the grantor trust created by this Agreement, shall exclude and withhold
from each distribution of principal, premium, if any, and interest and
other amounts due under this Agreement or under the Certificates any
and all withholding taxes applicable thereto as required by law. The
Trustee agrees to act as such withholding agent and, in connection
therewith, whenever any present or future taxes or similar charges are
required to be withheld with respect to any amounts payable in respect
of the Certificates, to withhold such amounts and timely pay the same
to the appropriate authority in the name of and on behalf of the
Certificateholders, that it will file any necessary withholding tax
returns or statements when due, and that, as promptly as possible after
the payment thereof, it will deliver to each such Certificateholder
appropriate documentation showing the payment thereof, together with
such additional documentary evidence as such Certificateholders may
reasonably request from time to time. The Trustee agrees to file any
other information reports as it may be required to file under United
States law.

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(b)    In the event the Trust is
characterized as a partnership for U.S. federal income tax purposes,
the Company shall (i)  file, mail or deliver (or cause to be
filed, mailed or delivered) Internal Revenue Form 1065 and any other
federal, state or local income tax returns or reports required to be
filed, delivered or mailed by the Trust to any taxing authority or any
person treated as a partner and (ii)  indemnify the Trust against
any costs, expenses or penalties imposed on the Trust arising from the
classification of the Trust as a partnership.

Section
7.17.    Trustee's Liens.    The Trustee in its
individual capacity agrees that it will at its own cost and expense
promptly take any action as may be necessary to duly discharge and
satisfy in full any mortgage, pledge, lien, charge, encumbrance,
security interest or claim (‘‘Trustee's
Liens’’) on or with respect to the Trust Property which
is attributable to the Trustee either (i)  in its individual
capacity and which is unrelated to the transactions contemplated by
this Agreement, the Intercreditor Agreement, the Note Purchase
Agreement or the Financing Documents, or (ii)  as Trustee
hereunder or in its individual capacity and which arises out of acts or
omissions on the part of the Trustee which are not contemplated by this
Agreement.

Section 7.18.    Preferential Collection
of Claims.    The Trustee shall comply with Section
311(a) of the Trust Indenture Act, excluding any creditor relationship
listed in Section  311(b) of the Trust Indenture Act. If the
Trustee shall resign or be removed as Trustee, it shall be subject to
Section  311(a) of the Trust Indenture Act to the extent provided
therein.

ARTICLE
VIII

CERTIFICATEHOLDERS' LISTS AND REPORTS BY
TRUSTEE

Section 8.01.    The Company to Furnish
Trustee with Names and Addresses of Certificateholders.    The
Company will furnish to the Trustee within 15 days after each Record
Date with respect to a Scheduled Payment, and at such other times as
the Trustee may request in writing within 30 days after receipt by the
Company of any such request, a list, in such form as the Trustee may
reasonably require, of all information in the possession or control of
the Company as to the names and addresses of the Certificateholders, in
each case as of a date not more than 15 days prior to the time such
list is furnished; provided, however, that so long as
the Trustee is the sole Registrar, no such list need be furnished; and
provided further, however, that no such list
need be furnished for so long as a copy of the Register is being
furnished to the Trustee pursuant to Section  7.12.

Section 8.02.    Preservation of Information
Communications to Certificateholders.    The Trustee shall
preserve, in as current a form as is reasonably practicable, the names
and addresses of Certificateholders contained in the most recent list
furnished to the Trustee as provided in Section  7.12 or
Section  8.01, as the case may be, and the names and addresses of
Certificateholders received by the Trustee in its capacity as
Registrar, if so acting. The Trustee may destroy any list furnished to
it as provided in Section  7.12 or Section  8.01, as the
case may be, upon receipt of a new list so furnished.

Section
8.03.    Reports by Trustee.    Within 60 days after
_______ of each year
commencing with the first full year following the issuance of the
Certificates, the Trustee shall transmit to the Certificateholders, as
provided in Section  313(c) of the Trust Indenture Act, a brief
report dated as of such
_______, if required
by Section  313(a) of the Trust Indenture Act.

Section
8.04.    Reports by the Company.    The Company
shall:

(a)    file with the Trustee, within 30 days after the
Company is required to file the same with the SEC, copies of the annual
reports and of the information, documents and other reports (or copies
of such portions of any of the foregoing as the SEC may from time to
time by rules and regulations prescribe) which the Company is required
to file with the SEC pursuant to Section  13 or Section
15(d) of the Securities Exchange Act of 1934, as amended; or, if the
Company is not required to file information, documents or reports
pursuant to either of such sections, then to file with the Trustee and
the SEC, in accordance with rules and regulations prescribed by the
SEC, such of the supplementary and periodic information, documents and
reports which may be required pursuant to 

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Section  13 of the Securities Exchange
Act of 1934, as amended, in respect of a security listed and registered
on a national securities exchange as may be prescribed in such rules
and regulations;

(b)    file with the Trustee and the SEC, in
accordance with the rules and regulations prescribed by the SEC, such
additional information, documents and reports with respect to
compliance by the Company with the conditions and covenants provided
for in this Agreement, as may be required by such rules and
regulations, including, in the case of annual reports, if required by
such rules and regulations, certificates or opinions of independent
public accountants, conforming to the requirements of Section
1.02;

(c)    transmit to all Certificateholders, in the manner
and to the extent provided in Section  313(c) of the Trust
Indenture Act such summaries of any information, documents and reports
required to be filed by the Company pursuant to Subsections (a) and (b)
of this Section  8.04 as may be required by rules and regulations
prescribed by the SEC; and

(d)    furnish to the Trustee, not
less often than annually, a brief certificate from the principal
executive officer, principal financial officer, any Vice President (or
more senior ranking officer) or the principal accounting officer as to
his or her knowledge of the Company's compliance with all
conditions and covenants under this Agreement (it being understood that
for purposes of this paragraph (d), such compliance shall be determined
without regard to any period of grace or requirement of notice provided
under this Agreement).

ARTICLE
IX

SUPPLEMENTAL AGREEMENTS

Section
9.01.    Supplemental Agreements Without Consent of
Certificateholders.    Without the consent of the
Certificateholders, the Company may (but will not be required to), and
the Trustee (subject to Section  9.03) shall, at the
Company's request, at any time and from time to time, enter into
one or more agreements supplemental hereto or, if applicable, to the
Intercreditor Agreement, the Escrow Agreement, the Note Purchase
Agreement, the Deposit Agreement, the Policy, the Policy Provider
Agreement or any Liquidity Facility in form satisfactory to the
Trustee, for any of the following purposes:

(1)    to evidence the succession of another
corporation to the Company and the assumption by any such successor of
the covenants of the Company herein contained or of the Company's
obligations under the Note Purchase Agreement, the Policy Provider
Agreement or any Liquidity Facility; or

(2)    to add to the covenants of the Company for
the benefit of the Certificateholders, or to surrender any right or
power conferred upon the Company in this Agreement, the Note Purchase
Agreement, the Policy, the Policy Provider Agreement or any Liquidity
Facility; or

(3)    to correct or supplement
any provision in this Agreement, the Intercreditor Agreement, the
Escrow Agreement, the Deposit Agreement, the Note Purchase Agreement,
the Policy, the Policy Provider Agreement or any Liquidity Facility
which may be defective or inconsistent with any other provision herein
or therein or to cure any ambiguity or correct any mistake or to modify
any other provision with respect to matters or questions arising under
this Agreement, the Escrow Agreement, the Deposit Agreement, the Note
Purchase Agreement, the Intercreditor Agreement, the Policy, the Policy
Provider Agreement or any Liquidity Facility, provided that
any such action shall not materially adversely affect the interests of
the Certificateholders; or

(4)    to modify,
eliminate or add to the provisions of this Agreement to such extent as
shall be necessary to continue the qualification of this Agreement
(including any supplemental agreement) under the Trust Indenture Act or
under any similar Federal statute hereafter enacted, and to add to this
Agreement such other provisions as may be expressly permitted by the
Trust Indenture Act, excluding, however, the provisions referred to in
Section  316(a)(2) of the Trust Indenture Act as in effect at the
date as of which this instrument was executed or any corresponding
provision in any similar Federal statute hereafter enacted; or

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(5)    to evidence and
provide for the acceptance of appointment under thus Agreement by the
Trustee of a successor Trustee and to add to or change any of the
provisions of this Agreement as shall be necessary to provide for or
facilitate the administration of the Trust, pursuant to the
requirements of Section  7.10; or

(6)    to provide the information required under
Section  7.12 and Section  12.03 as to the Trustee;

provided, however, that no such
supplemental agreement shall adversely affect the status of any Trust
as a grantor trust under Subpart  E, Part  I of
Subchapter  J of Chapter  1 of Subtitle  A of the
Internal Revenue Code of 1986, as amended, for U.S. federal income tax
purposes.

Section 9.02.    Supplemental Agreements
with Consent of Certificateholders.    With the consent of the
Certificateholders holding Certificates (including consents obtained in
connection with a tender offer or exchange offer for the Certificates)
evidencing Fractional Undivided Interests aggregating not less than a
majority in interest in the Trust, by Direction of said
Certificateholders delivered to the Company and the Trustee and the
consent of the Policy Provider, the Company may, and the Trustee
(subject to Section  9.03) shall, enter into an agreement or
agreements for the purpose of adding any provisions to or changing in
any manner or eliminating any of the provisions of this Agreement, the
Intercreditor Agreement, any Liquidity Facility, the Policy and the
Policy Provider Agreement, the Escrow Agreement, the Deposit Agreement
or the Note Purchase Agreement to the extent applicable to such
Certificateholders or of modifying in any manner the rights and
obligations of such Certificateholders under this Agreement, the
Intercreditor Agreement, any Liquidity Facility, the Policy and the
Policy Provider Agreement, the Escrow Agreement, the Deposit Agreement
or the Note Purchase Agreement; provided, however,
that no such agreement shall, without the consent of the
Certificateholder of each Outstanding Certificate affected thereby:

(1)    reduce in any manner the amount of, or
delay the timing of, any receipt by the Trustee (or, with respect to
the Deposits, the Certificateholders) of payments on the Equipment
Notes or other Trust Property held in the Trust or on the Deposits or
distributions that are required to be made herein on any Certificate,
or change any date of payment on any Certificate, or change the place
of payment where, or the coin or currency in which, any Certificate is
payable, or impair the right to institute suit for the enforcement of
any such payment or distribution on or after the Regular Distribution
Date or Special Distribution Date applicable thereto; or

(2)    permit the disposition of any Equipment
Note included in the Trust Property except as permitted by this
Agreement or the Intercreditor Agreement, or otherwise deprive such
Certificateholder of the benefit of the ownership of the Equipment
Notes in the Trust; or

(3)    reduce the
specified percentage of the aggregate Fractional Undivided Interests of
the Trust which is required for any such supplemental agreement, or
reduce such specified percentage required for any waiver of compliance
with certain provisions of this Agreement or certain defaults hereunder
and their consequences provided for in this Agreement; or

(4)    waive, amend or modify Section  2.4,
or ___ of the Intercreditor Agreement, in a manner
adverse to the Certificateholders; or

(5)    modify any of the provisions of this
Section  9.02 or Section  6.05, except to increase any such
percentage or to provide that certain other provisions of this
Agreement cannot be modified or waived without the consent of the
Certificateholder of each Certificate affected thereby;
or

(6)    terminate or modify the Policy;
or

(7)    adversely affect the status of any
Trust as a grantor trust under Subpart E, Part I of Subchapter J of
Chapter 1 of Subtitle A of the Internal Revenue Code of 1986, as
amended, for U.S. federal income tax purposes.

It shall not be
necessary for any Direction of Certificateholders under this Section to
approve the particular form of any proposed supplemental agreement, but
it shall be sufficient if such Direction shall approve the substance
thereof.

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Section 9.03.    Documents
Affecting Immunity or Indemnity.    Except for the performance
of its covenants herein, if in the opinion of the Trustee any document
required to be executed by it pursuant to the terms of Section
9.01 or 9.02 affects adversely any interest, right, duty, immunity or
indemnity in favor of the Trustee under this Agreement, the Trustee may
in its discretion decline to execute such document.

Section
9.04.    Execution of Supplemental Agreements.    In
executing, or accepting the additional trusts created by, any agreement
permitted by this Article or the modifications thereby of the trusts
created by this Agreement, the Trustee shall be entitled to receive,
and shall be fully protected in relying upon, an Opinion of Counsel
stating that the execution of such supplemental agreement is authorized
or permitted by this Agreement.

Section
9.05.    Effect of Supplemental Agreements.    Upon
the execution of any agreement supplemental to this Agreement under
this Article, this Agreement shall be modified in accordance therewith,
and such supplemental agreement shall form a part of this Agreement for
all purposes; and every Holder of a Certificate theretofore or
thereafter authenticated and delivered hereunder shall be bound
thereby.

Section 9.06.    Conformity with Trust
Indenture Act.    Every supplemental agreement executed pursuant
to this Article  shall conform to the requirements of the Trust
Indenture Act as then in effect.

Section
9.07.    Reference in Certificates to Supplemental
Agreements.    Certificates authenticated and delivered after
the execution of any supplemental agreement pursuant to this
Article  may bear a notation in form approved by the Trustee as
to any matter provided for in such supplemental agreement; and, in such
case, suitable notation may be made upon Outstanding Certificates after
proper presentation and demand.

ARTICLE
X

AMENDMENTS TO INDENTURES AND FINANCING DOCUMENTS

Section 10.01.    Amendments and Supplements to
Indentures and Financing Documents.    In the event that the
Trustee, as holder (or beneficial owner through the Subordination
Agent) of any Equipment Note in trust for the benefit of the
Certificateholders or as Controlling Party under the Intercreditor
Agreement, receives (directly or indirectly through the Subordination
Agent) a request for a consent to any amendment, modification, waiver
or supplement under any Indenture, any other Financing Document, any
Equipment Note or any other related document, the Trustee shall
forthwith send a notice of such proposed amendment, modification,
waiver or supplement to each Certificateholder registered on the
Register as of the date of such notice and the Policy Provider. The
Trustee shall request from the Policy Provider or if a Policy Provider
Default has occurred and is continuing, Certificateholders a Direction
as to (a)  whether or not to take or refrain from taking (or
direct the Subordination Agent to take or refrain from taking) any
action which a holder of such Equipment Note or as Controlling Party
has the option to direct, (b)  whether or not to give or execute
(or direct the Subordination Agent to give or execute) any waivers,
consents, amendments, modifications or supplements as a holder of such
Equipment Note or a Controlling Party and (c)  how to vote (or
direct the Subordination Agent to vote) any Equipment Note if a vote
has been called for with respect thereto. Provided such a request for
Certificateholder Direction shall have been made, in directing any
action or casting any vote or giving any consent as the holder of any
Equipment Note (or in directing the Subordination Agent in any of the
foregoing), (i)  other than as Controlling Party, the Trustee
shall vote for or give consent to any such action with respect to such
Equipment Note in the same proportion as that of (A)  the
aggregate face amounts of all Certificates actually voted in favor of
or for giving consent to such action by such Direction of
Certificateholders to (B)  the aggregate face amount of all
Outstanding Certificates and (ii)  as Controlling Party, the
Trustee shall vote [jointly with the Class
_-_ Trustee (as defined in the Intercreditor
Agreement)] as directed in such Certificateholder Direction
[by the Certificateholders [and Class
_-_ Certificateholders] evidencing a Fractional
Undivided Interest [(as defined herein and in the Class
_-_ Trust Agreement (as defined in the Intercreditor
Agreement))] aggregating not less than a majority in interest in
the 

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Trust [and the Class
_-_ Trust (as defined in the Intercreditor Agreement),
voting as one class.] For purposes of the immediately preceding
sentence, a Certificate shall have been ‘‘actually
voted’’ if the Holder of such Certificate has delivered
to the Trustee an instrument evidencing such Holder's consent to
such Direction prior to two Business Days before the Trustee directs
such action or casts such vote or gives such consent. Notwithstanding
the foregoing, but subject to Section  6.04 and the Intercreditor
Agreement, the Trustee may, in its own discretion and at its own
direction, consent and notify the relevant Loan Trustee of such consent
(or direct the Subordination Agent to consent and notify the Loan
Trustee of such consent) to any amendment, modification, waiver or
supplement under the relevant Indenture, any other Financing Document,
any Equipment Note or any other related document, if an Event of
Default hereunder shall have occurred and be continuing, or if such
amendment, modification, waiver or supplement will not materially
adversely affect the interests of the Certificateholders.

ARTICLE  XI

TERMINATION OF TRUST

Section 11.01.    Termination of the
Trust.    The respective obligations and responsibilities of the
Company and the Trustee with respect to the Trust shall terminate upon
the earlier of (A)  the completion of the assignment, transfer
and discharge described in the first sentence of the immediately
following paragraph and (B)  distribution to all Holders of
Certificates and the Trustee of all amounts required to be distributed
to them pursuant to this Agreement and the disposition of all property
held as part of the Trust Property; provided,
however, that in no event shall the Trust continue beyond one
hundred ten (110) years following the date of the earliest execution of
this Trust Agreement.

Upon the earlier of (i)  the first
Business Day after
_____________,
____, or, if later, the fifth Business Day
following the Delivery Period Termination Date and (ii)  the
fifth Business Day following the date on which a Triggering Event
occurs (such date, the ‘‘Transfer
Date’’), or, if later the date on which all of the
conditions set forth in the immediately following sentence have been
satisfied, the Trustee is hereby directed (subject only to the
immediately following sentence) to, and the Company shall direct the
institution that will serve as the Related Trustee under the Related
Pass Through Trust Agreement to, execute and deliver the Assignment and
Assumption Agreement, pursuant to which the Trustee shall assign,
transfer and deliver all of the Trustee's right, title and
interest to the Trust Property to the Related Trustee under the Related
Pass Through Trust Agreement. The Trustee and the Related Trustee shall
execute and deliver the Assignment and Assumption Agreement upon the
satisfaction of the following conditions:

(i)    The Trustee, the Related Trustee and each
of the Rating Agencies then rating the Certificates shall have received
an Officer's Certificate and an Opinion of Counsel dated the date
of the Assignment and Assumption Agreement and each satisfying the
requirements of Section  1.02, which Opinion of Counsel shall be
substantially to the effect set forth below and may be relied upon by
the Beneficiaries (as defined in the Assignment and Assumption
Agreement):

(a)    upon the execution and
delivery thereof by the parties thereto in accordance with the terms of
this Agreement and the Related Pass Through Trust Agreement, the
Assignment and Assumption Agreement will constitute the valid and
binding obligation of each of the parties thereto enforceable against
each such party in accordance with its terms;

(b)    upon the execution and delivery of the
Assignment and Assumption Agreement in accordance with the terms of
this Agreement and the Related Pass Through Trust Agreement, each of
the Certificates then Outstanding will be entitled to the benefits of
the Related Pass Through Trust Agreement;

(c)    the Related Trust is not required to be
registered as an investment company under the Investment Company Act of
1940, as amended;

(d)    the Related Pass
Through Trust Agreement constitutes the valid and binding obligation of
the Company enforceable against the Company in accordance with its
terms; and

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(e)    neither the
execution and delivery of the Assignment and Assumption Agreement in
accordance with the terms of this Agreement and the Related Pass
Through Trust Agreement, nor the consummation by the parties thereto of
the transactions contemplated to be consummated thereunder on the date
thereof, will violate any law or governmental rule or regulation of the
State of New York or the United States of America known to such counsel
to be applicable to the transactions contemplated by the Assignment and
Assumption Agreement.

(ii)    The Trustee and
the Company shall have received (x) a copy of the articles of
incorporation and bylaws of the Related Trustee certified as of the
Transfer Date by the Secretary or Assistant Secretary of such
institution and (y) a copy of the filing (including all attachments
thereto) made by the institution serving as the Related Trustee with
the Office of the Superintendent, State of New York Banking Department
for the qualification of the Related Trustee under Section
131(3) of the New York Banking Law.

Upon the execution of the
Assignment and Assumption Agreement by the parties thereto, the Trust
shall be terminated, the Certificateholders shall receive beneficial
interests in the Related Trust in exchange for their interests in the
Trust equal to their respective beneficial interests in the Trust, and
the Outstanding Certificates representing Fractional Undivided
Interests in the Trust shall be deemed for all purposes of this
Agreement and the Related Pass Through Trust Agreement, without further
signature or action of any party or Certificateholder, to be
certificates representing the same fractional undivided interests in
the Related Trust and its trust property. By acceptance of its
Certificate, each Certificateholder consents to such assignment,
transfer and delivery of the Trust Property to the trustee of the
Related Trust upon the execution and delivery of the Assignment and
Assumption Agreement.

In connection with the occurrence of the
event set forth in clause (B)  above, notice of such termination,
specifying the Distribution Date upon which the Certificateholders may
surrender their Certificates to the Trustee for payment of the final
distribution and cancellation, shall be mailed promptly by the Trustee
to Certificateholders not earlier than the 60th day and not later than
the 20th day next preceding such final Distribution Date specifying
(A)  the Distribution Date upon which the proposed final payment
of the Certificates will be made upon presentation and surrender of
Certificates at the office or agency of the Trustee therein specified,
(B)  the amount of any such proposed final payment, and
(C)  that the Record Date otherwise applicable to such
Distribution Date is not applicable, payments being made only upon
presentation and surrender of the Certificates at the office or agency
of the Trustee therein specified. The Trustee shall give such notice to
the Registrar at the time such notice is given to Certificateholders.
Upon presentation and surrender of the Certificates in accordance with
such notice, the Trustee shall cause to be distributed to
Certificateholders such final payments.

In the event that all of
the Certificateholders shall not surrender their Certificates for
cancellation within six months after the date specified in the
above-mentioned written notice, the Trustee shall give a second written
notice to the remaining Certificateholders to surrender their
Certificates for cancellation and receive the final distribution with
respect thereto. No additional interest shall accrue on the
Certificates after the Distribution Date specified in the first written
notice. In the event that any money held by the Trustee for the payment
of distributions on the Certificates shall remain unclaimed for two
years (or such lesser time as the Trustee shall be satisfied, after
sixty days' notice from the Company, is one month prior to the
escheat period provided under applicable law) after the final
distribution date with respect thereto, the Trustee shall pay to each
Loan Trustee the appropriate amount of money relating to such Loan
Trustee and shall give written notice thereof to the Company.

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ARTICLE
XII

MISCELLANEOUS PROVISIONS

Section
12.01.    Limitation on Rights of
Certificateholders.    The death or incapacity of any
Certificateholder shall not operate to terminate this Agreement or the
Trust, nor entitle such Certificateholder's legal representatives
or heirs to claim an accounting or to take any action or commence any
proceeding in any court for a partition or winding up of the Trust, nor
otherwise affect the rights, obligations, and liabilities of the
parties hereto or any of them.

Section
12.02.    Certificates Nonassessable and Fully
Paid.    Except as set forth in the last sentence of this
Section  12.02, Certificateholders shall not be personally liable
for obligations of the Trust, the Fractional Undivided Interests
represented by the Certificates shall be nonassessable for any losses
or expenses of the Trust or for any reason whatsoever, and
Certificates, upon authentication thereof by the Trustee pursuant to
Section  3.03, are and shall be deemed fully paid. No
Certificateholder shall have any right (except as expressly provided
herein) to vote or in any manner otherwise control the operation and
management of the Trust Property, the Trust, or the obligations of the
parties hereto, nor shall anything set forth herein, or contained in
the terms of the Certificates, be construed so as to constitute the
Certificateholders from time to time as partners or members of an
association. Neither the existence of the Trust nor any provision
herein is intended to or shall limit the liability the
Certificateholders would otherwise incur if the Certificateholders
owned Trust Property as co-owners, or incurred any obligations of the
Trust, directly rather than through the Trust.

Section
12.03.    Notices.    (a) Unless otherwise
specifically provided herein, all notices required under the terms and
provisions of this Agreement shall be in English and in writing, and
any such notice may be given by United States mail, courier service or
telecopy, and any such notice shall be effective when received or, if
made, given, furnished or filed by facsimile or telecommunication
transmission, when received unless received outside of business hours,
in which case on the next opening of business on a Business Day,

		if to the Company, to:

		JetBlue Airways
Corporation
 118-29 Queens Blvd.
Forest Hills, NY 11375

		Attention: Vice President—Corporate Finance

Facsimile: 718-709-3639

		with a copy to:

		JetBlue Airways Corporation
 118-29 Queens Blvd.

Forest Hills, NY 11375

		Attention: General Counsel

Facsimile: 718-709-3631

		if to the Trustee, to:

		Wilmington Trust Company
 Rodney Square North
 1100
North Market Street
 Wilmington, Delaware 19890-0001

		Attention: Corporate Trust Administration
 Facsimile:
(302) 636-4140
 Telephone: (302) 636-6000

(b)    The
Company or the Trustee, by notice to the other, may designate
additional or different addresses for subsequent notices or
communications.

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(c)    Any notice or communication to
Certificateholders shall be mailed by first-class mail to the addresses
for Certificateholders shown on the Register kept by the Registrar.
Failure so to mail a notice or communication or any defect in such
notice or communication shall not affect its sufficiency with respect
to other Certificateholders.

(d)    If a notice or
communication is mailed in the manner provided above within the time
prescribed, it is conclusively presumed to have been duly given,
whether or not the addressee receives it.

(e)    If the
Company mails a notice or communication to the Certificateholders, it
shall mail a copy to the Trustee and to the Paying Agent at the same
time.

(f)    Notwithstanding the foregoing, all communications
or notices to the Trustee shall be deemed to be given only when
received by a Responsible Officer of the Trustee.

(g)    The
Trustee shall promptly furnish the Company with a copy of any demand,
notice or written communication received by the Trustee hereunder from
any Certificateholder or Loan Trustee.

Section
12.04.    Governing Law.    THIS AGREEMENT HAS BEEN
DELIVERED IN THE STATE OF DELAWARE AND THIS AGREEMENT AND THE
CERTIFICATES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF DELAWARE AND THE OBLIGATIONS, RIGHTS AND REMEDIES
OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH
LAWS.

Section 12.05.    Severability of
Provisions.    If any one or more of the covenants, agreements,
provisions or terms of this Agreement shall be for any reason
whatsoever held invalid, then such covenants, agreements, provisions,
or terms shall be deemed severable from the remaining covenants,
agreements, provisions or terms of this Agreement and shall in no way
affect the validity or enforceability of the other provisions of this
Agreement or the Trust, or of the Certificates or the rights of the
Certificateholders thereof.

Section 12.06.    Trust
Indenture Act Controls.    This Agreement is subject to the
provisions of the Trust Indenture Act and shall, to the extent
applicable, be governed by such provisions.

Section
12.07.    Effect of Headings and Table of
Contents.    The Article and Section headings herein and the
Table of Contents are for convenience only and shall not affect the
construction hereof.

Section 12.08.    Successors
and Assigns.    All covenants, agreements, representations and
warranties in this Agreement by the Trustee and the Company shall bind
and, to the extent permitted hereby, shall inure to the benefit of and
be enforceable by their respective successors and assigns, whether so
expressed or not.

Section 12.09.    Benefits of
Agreement.    Except as otherwise provided in this Agreement,
nothing in this Agreement or in the Certificates, express or implied,
shall give to any Person, other than the parties hereto and their
successors hereunder, and the Certificateholders, any benefit or any
legal or equitable right, remedy or claim under this Agreement.

Section 12.10.    Legal Holidays.    In any case
where any Regular Distribution Date or Special Distribution Date
relating to any Certificate shall not be a Business Day, then
(notwithstanding any other provision of this Agreement) payment need
not be made on such date, but may be made on the next succeeding
Business Day with the same force and effect as if made on such Regular
Distribution Date or Special Distribution Date, and no interest shall
accrue during the intervening period.

Section
12.11.    Counterparts.    For the purpose of
facilitating the execution of this Agreement and for other purposes,
this Agreement may be executed simultaneously in any number of
counterparts, each of which counterparts shall be deemed to be an
original, and all of which counterparts shall constitute but one and
the same instrument.

Section 12.12.    Intention of
Parties.    The parties hereto intend that the Trust be
classified for U.S. federal income tax purposes as a grantor trust
under Subpart E, Part I of Subchapter J of the 

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Internal Revenue Code of 1986, as amended,
and not as a trust or association taxable as a corporation or as a
partnership. Each Certificateholder and Investor, by its acceptance of
its Certificate or a beneficial interest therein, agrees to treat the
Trust as a grantor trust for all U.S. federal, state and local income
tax purposes. The powers granted and obligations undertaken pursuant to
this Agreement shall be so construed so as to further such intent.

* * *

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IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed by their respective
officers thereunto duly authorized as of the day and year first written
above.

		JETBLUE AIRWAYS
CORPORATION

		By:   ______________________________

Name:
Title:

		WILMINGTON TRUST COMPANY, as
Trustee

		By:   ______________________________

Name:
Title:

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EXHIBIT
A

FORM OF CERTIFICATE

REGISTERED

No.   ____________

UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(‘‘DTC’’), TO THE TRUSTEE OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IN EXCHANGE FOR THIS CERTIFICATE IS REGISTERED IN THE NAME OF
CEDE  & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO
CEDE  & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH
AS THE REGISTERED OWNER HEREOF, CEDE  & CO., HAS AN INTEREST
HEREIN.

TRANSFERS OF THIS CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR
TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR'S NOMINEE AND TRANSFERS
OF PORTIONS OF THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN SECTION
3.05 OF THE PASS THROUGH TRUST AGREEMENT REFERRED TO HEREIN.

BY ITS ACQUISITION HEREOF, THE HOLDER REPRESENTS
THAT (A)  NO PLAN ASSETS HAVE BEEN USED TO PURCHASE THIS
CERTIFICATE OR AN INTEREST HEREIN OR (B)  THE PURCHASE AND
HOLDING OF THIS CERTIFICATE OR AN INTEREST HEREIN IS EXEMPT FROM THE
PROHIBITED TRANSACTION RESTRICTIONS OF ERISA AND THE CODE PURSUANT TO
ONE OR MORE PROHIBITED TRANSACTION STATUTORY OR ADMINISTRATIVE
EXEMPTIONS. THE PASS THROUGH TRUST AGREEMENT CONTAINS A PROVISION
REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS
CERTIFICATE IN VIOLATION OF THE FOREGOING RESTRICTIONS.

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GLOBAL CERTIFICATE

JETBLUE
AIRWAYS PASS THROUGH TRUST, SERIES
____

JetBlue
Airways
 Pass Through Certificate,
 Series
____

Final Legal
Distribution Date:
____________
___, _____

evidencing a fractional undivided interest in a trust, the
property of which includes certain equipment notes each secured by an
Aircraft owned by JetBlue Airways Corporation.

having a face
amount of
$[__________]
representing
[_____]% of the
Trust per $1,000 face amount

THIS CERTIFIES THAT
____________________,
for value received, is the registered owner of a Fractional Undivided
Interest having a face amount of
$_______________
(_______________
dollars) in the JetBlue Airways Pass Through Trust, Series
_________
(the ‘‘Trust’’) created pursuant to a
Pass Through Trust Agreement, dated as of
____________,
____ (the
‘‘Agreement’’), between Wilmington Trust
Company (the ‘‘Trustee’’) and JetBlue
Airways Corporation, a corporation incorporated under Delaware law (the
‘‘Company’’), a summary of certain of
the pertinent provisions of which is set forth below. To the extent not
otherwise defined herein, the capitalized terms used herein have the
meanings assigned to them in the Agreement. This Certificate is one of
the duly authorized Certificates designated as JetBlue Airways Pass
Through Certificates, Series
_________’’
(herein called the ‘‘Certificates’’).
This Certificate is issued under and is subject to the terms,
provisions, and conditions of the Agreement. By virtue of its
acceptance hereof the Certificateholder of this Certificate assents to
and agrees to be bound by the provisions of the Agreement and the
Intercreditor Agreement. The property of the Trust includes an interest
in certain Equipment Notes and all rights of the Trust to receive
payments under the Intercreditor Agreement, the Policy and any
Liquidity Facility (the ‘‘Trust
Property’’). Each issue of the Equipment Notes is
secured by, among other things, a security interest in the Aircraft
owned by the Company.

The Certificates represent fractional
undivided interests in the Trust and the Trust Property, and have no
rights, benefits or interest in respect of any assets or property other
than the Trust Property.

Subject to and in accordance with the
terms of the Agreement and the Intercreditor Agreement, from and to the
extent of funds then available to the Trustee, there will be
distributed on each (i)
__________,
__________,
__________
and
__________
and (ii)  in the case of any payment of principal or interest on,
or with respect to, any Equipment Note received by the Subordination
Agent after the date on which such payment is scheduled to be made, but
within ten Business Days of such scheduled payment date, the date of
receipt of such payment by the Trustee if received by noon and if
later, the next Business Day (each a ‘‘Regular
Distribution Date’’), commencing on
_____________,
_____, to the Person in whose name
this Certificate is registered at the close of business on the Record
Date immediately preceding the Regular Distribution Date, an amount in
respect of the Scheduled Payments due on such Regular Distribution Date
on the Equipment Notes, the receipt of which has been confirmed by the
Trustee, equal to the product of the percentage interest in the Trust
evidenced by this Certificate and an amount equal to the sum of such
Scheduled Payments. Subject to and in accordance with the terms of the
Agreement and the Intercreditor Agreement, in the event that Special
Payments on the Equipment Notes are received by the Trustee, from funds
then available to the Trustee, there shall be distributed on the
applicable Special Distribution Date, to the Person in whose name this
Certificate is registered at the close of business on the
_____ day preceding the Special
Distribution Date, an amount in respect of such Special Payments on the
Equipment Notes, the receipt of which has been confirmed by the
Trustee, equal to the product of the percentage interest in the Trust
evidenced by this Certificate and an amount equal to the sum of such
Special Payments so received. If a Regular Distribution Date or Special
Distribution Date is not a Business Day, distribution shall be made on
the immediately following Business Day with the same force and effect
as if made on such Regular Distribution Date or Special Distribution
Date. The Trustee shall mail notice of each Special Payment and the
Special Distribution Date therefor to the Certificateholder of this
Certificate.

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The Certificates do not represent a direct
obligation of, or an obligation guaranteed by, or an interest in, the
Company or the Trustee or any of their affiliates. The Certificates are
limited in right or payment, all as more specifically set forth on the
face hereof and in the Agreement. All payments or distributions made to
Certificateholders under the Agreement shall be made only from the
Trust Property and only to the extent that the Trustee shall have
sufficient income or proceeds from the Trust Property to make such
payments in accordance with the terms of the Agreement. Each
Certificateholder of this Certificate, by its acceptance hereof, agrees
that it will look solely to the income and proceeds from the Trust
Property to the extent available for distribution to such
Certificateholder as provided in the Agreement. This Certificate does
not purport to summarize the Agreement and reference is made to the
Agreement for information with respect to the interests, rights,
benefits, obligations, proceeds, and duties evidenced hereby. A copy of
the Agreement may be examined during normal business hours at the
principal office of the Trustee, and at such other places, if any,
designated by the Trustee, by any Certificateholder upon request.

The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of
the Company and the rights of the Certificateholders under the
Agreement at any time by the Company and the Trustee with the consent
of the Certificateholders holding Certificates evidencing Fractional
Undivided Interests aggregating not less than a majority in interest in
the Trust. Any such consent by the Certificateholder of this
Certificate shall be conclusive and binding on such Certificateholder
and upon all future Certificateholders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange hereof or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in
certain limited circumstances, without the consent of the
Certificateholders of any of the Certificates.

As provided in
the Agreement and subject to certain limitations therein set forth, the
transfer of this Certificate is registrable in the Register upon
surrender of this Certificate for registration of transfer at the
offices or agencies maintained by the Trustee in its capacity as
Registrar, or by any successor Registrar, in the Borough of Manhattan,
the City of New York, duly endorsed or accompanied by a written
instrument of transfer in form satisfactory to the Trustee and the
Registrar duly executed by the Certificateholder hereof or such
Certificateholder's attorney duly authorized in writing, and
thereupon one or more new Certificates of authorized denominations
evidencing the same aggregate Fractional Undivided Interest in the
Trust will be issued to the designated transferee or transferees.

Except as otherwise provided in the Agreement and notwithstanding
the above, the final distribution on this Certificate will be made
after notice mailed by the Trustee of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the
office or agency of the Trustee specified in such notice.

Under
certain circumstances set forth in Section  11.01 of the
Agreement, all of the Trustee's right, title and interest to the
Trust Property may be assigned, transferred and delivered to the
Related Trustee of the Related Trust pursuant to the Assignment and
Assumption Agreement. Upon the effectiveness of such Assignment and
Assumption Agreement (the ‘‘Transfer’’),
the Trust shall be terminated, the Certificateholders shall receive
beneficial interests in the Related Trust in exchange for their
interests in the Trust equal to their respective beneficial interests
in the Trust, the Certificates representing Fractional Undivided
Interests in the Trust shall be deemed for all purposes of the
Agreement and the Related Pass Through Trust Agreement to be
certificates representing the same fractional undivided interests in
the Related Trust and its trust property. Each Certificateholder, by
its acceptance of this Certificate or a beneficial interest herein,
agrees to be bound by the Assignment and Assumption Agreement and
subject to the terms of the Related Pass Through Trust Agreement as a
certificateholder thereunder. From and after the Transfer, unless and
to the extent the context otherwise requires, references herein to the
Trust, the Agreement and the Trustee shall constitute references to the
Related Trust, the Related Pass Through Trust Agreement and trustee of
the Related Trust, respectively.

The Certificates are issuable
only as registered Certificates without coupons in minimum
denominations of $1,000 Fractional Undivided Interest and integral
multiples of $1,000 in excess 

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thereof except that one Certificate may be in
a different denomination. As provided in the Agreement and subject to
certain limitations therein set forth, the Certificates are
exchangeable for new Certificates of authorized denominations
evidencing the same aggregate Fractional Undivided Interest in the
Trust, as requested by the Certificateholder surrendering the same.

No service charge will be made for any such registration of transfer
or exchange, but the Trustee shall require payment by the Holder of a
sum sufficient to cover any tax or governmental charge payable in
connection therewith.

The Trustee, the Registrar, and any agent
of the Trustee or the Registrar may treat the person in whose name this
Certificate is registered as the owner hereof for all purposes, and
neither the Trustee, the Registrar, nor any such agent shall be
affected by any notice to the contrary.

The obligations and
responsibilities created by the Agreement and the Trust created thereby
shall terminate upon the distribution to Certificateholders of all
amounts required to be distributed to them pursuant to the Agreement
and the disposition of all property held as part of the Trust
Property.

UNTIL THE TRANSFER, THE AGREEMENT AND THIS CERTIFICATE
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF DELAWARE AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS,
FROM AND AFTER THE TRANSFER, THE AGREEMENT AND THIS CERTIFICATE SHALL
BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

Unless the certificate of authentication hereon has been executed by
the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.

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IN WITNESS WHEREOF, the Trustee has
caused this Certificate to be duly executed.

Dated:________________,
_____

		JETBLUE
AIRWAYS PASS THROUGH TRUST, SERIES
_________

		By: WILMINGTON TRUST COMPANY,
not in its
individual capacity but solely as Trustee

		By:   ______________________________________
Name:
Title:

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[FORM OF THE TRUSTEE'S
CERTIFICATE OF AUTHENTICATION]

This is one
of the Certificates referred
 to in the within-mentioned
Agreement.

		WILMINGTON TRUST COMPANY, not
in its individual capacity but solely as Trustee

		By:   __________________________________
        Authorized
Officer

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FORM OF TRANSFER NOTICE

FOR
VALUE RECEIVED the undersigned registered holder hereby sell(s),
assign(s) and transfer(s) unto

Insert Taxpayer
Identification No.

	
		
	

	
		
	

please print
or typewrite name and address including zip code of assignee

	
		
	

the within Certificate and
all rights thereunder, hereby irrevocably constituting and
appointing

	
		
	

attorney to transfer
said Certificate on the books of the Trustee with full power of
substitution in the
premises.

				
	Date:   ______________________________			[Name
of
Transferor]
	 			NOTE:
The signature must correspond with
 the name as written upon the
face of the
 within-mentioned instrument in every particular,

without alteration or any change
whatsoever.
	Signature
Guarantee:   __________________			 
	

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EXHIBIT
B

FORM OF ASSIGNMENT AND ASSUMPTION AGREEMENT

JetBlue
Airways Pass Through Trust, Series
_________

ASSIGNMENT AND ASSUMPTION AGREEMENT, dated
__________,
____, (the
‘‘Agreement’’), between Wilmington Trust
Company, a Delaware banking corporation
(‘‘WTC’’), not in its individual
capacity except as expressly provided herein, but solely as trustee
under the Pass Through Trust Agreement dated as of
__________,
____, (as amended, modified or otherwise
supplemented from time to time, the ‘‘Pass Through Trust
Agreement’’) in respect of the JetBlue Airways Pass
Through Trust, Series
_________
(the ‘‘Assignor’’), and Wilmington Trust
Company, a Delaware banking corporation, not in its individual capacity
except as expressly provided herein, but solely as trustee under the
Pass Through Trust Agreement dated as of
___________
__, ______ (the
‘‘New Pass Through Trust Agreement’’) in
respect of the JetBlue Airways Pass Through Trust, Series
_________
(the ‘‘Assignee’’).

W I T N E S S E T H:

WHEREAS, the parties hereto desire to effect on the date
hereof (the ‘‘Transfer Date’’)
(a)  the transfer by the Assignor to the Assignee of all of the
right, title and interest of the Assignor in, under and with respect
to, among other things, the Trust Property and each of the documents
listed in Schedule  I hereto (the ‘‘Scheduled
Documents’’) and (b)  the assumption by the
Assignee of the obligations of the Assignor (i)  under the
Scheduled Documents and (ii)  in respect of the Certificates
issued under the Pass Through Trust Agreement; and

WHEREAS, the Scheduled Documents permit such transfer upon
satisfaction of certain conditions heretofore or concurrently herewith
being complied with;

NOW, THEREFORE, in consideration of
the premises and of the mutual covenants and agreements herein
contained, the parties hereto do hereby agree as follows (capitalized
terms used herein without definition having the meaning ascribed
thereto in the Pass Through Trust Agreement):

1.    Assignment.    The Assignor does hereby sell,
assign, convey, transfer and set over unto the Assignee as of the
Transfer Date all of its present and future right, title and interest
in, under and with respect to the Trust Property and the Scheduled
Documents and each other contract, agreement, document or instrument
relating to the Trust Property or the Scheduled Documents (such other
contracts, agreements, documents or instruments, together with the
Scheduled Documents, to be referred to as the ‘‘Assigned
Documents’’), and any proceeds therefrom, together with
all documents and instruments evidencing any of such right, title and
interest.

2.    Assumption.    The Assignee hereby
assumes for the benefit of the Assignor and each Certificateholder
(collectively, the ‘‘Beneficiaries’’)
all of the duties and obligations of the Assignor, whenever accrued,
pursuant to the Assigned Documents and hereby confirms that it shall be
deemed a party to each of the Assigned Documents to which the Assignor
is a party and shall be bound by all the terms thereof (including the
agreements and obligations of the Assignor set forth therein) as if
therein named as the Assignor. Further, the Assignee hereby assumes for
the benefit of the Assignor and the Beneficiaries all of the duties and
obligations of the Assignor under the Outstanding Certificates and
hereby confirms that the Certificates representing Fractional Undivided
Interests under the Pass Through Trust Agreement shall be deemed for
all purposes of the Pass Through Trust Agreement and the New Pass
Through Trust Agreement to be certificates representing the same
fractional undivided interests under the New Pass Through Trust
Agreement equal to their respective beneficial interests in the trust
created under the Pass Through Trust Agreement.

3.    Effectiveness.    This Agreement shall be
effective upon the execution and delivery hereof by the parties hereto,
and each Certificateholder, by its acceptance of its Certificate or a
beneficial interest therein, agrees to be bound by the terms of this
Agreement.

4.    Payments.    The Assignor hereby
covenants and agrees to pay over to the Assignee, if and when received
following the Transfer Date, any amounts (including any sums payable as
interest in respect thereof) paid to or for the benefit of the Assignor
that, under Section  1 hereof, belong to the Assignee.

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5.    Further
Assurances.    The Assignor shall, at any time and from time to
time, upon the request of the Assignee, promptly and duly execute and
deliver any and all such further instruments and documents and take
such further action as the Assignee may reasonably request to obtain
the full benefits of this Agreement and of the right and powers herein
granted. The Assignor agrees to deliver the Global Certificates, and
all Trust Property, if any, then in the physical possession of the
Assignor, to the Assignee.

6.    Representations and
Warranties.    (a) The Assignee represents and warrants to the
Assignor and each of the Beneficiaries that:

(i)    it has all requisite power and authority
and legal right to enter into and carry out the transactions
contemplated hereby and to carry out and perform the obligations of the
‘‘Pass Through Trustee’’ under the Assigned
Documents;

(ii)    on and as of the date
hereof, the representations and warranties of the Assignee set forth in
Section  7.15 of the New Pass Through Trust Agreement are true
and correct.

(b)    The Assignor represents and warrants to
the Assignee that:

(i)    it is duly
incorporated, validly existing and in good standing under the laws of
the State of Delaware and has the full trust power, authority and legal
right under the laws of the State of Delaware and the United States
pertaining to its trust and fiduciary powers to execute and deliver
this Agreement;

(ii)    the execution and
delivery by it of this Agreement and the performance by it of its
obligations hereunder have been duly authorized by it and will not
violate its articles of association or by-laws or the provisions of any
indenture, mortgage, contract or other agreement to which it is a party
or by which it is bound; and

(iii)    this
Agreement constitutes the legal, valid and binding obligations of it
enforceable against it in accordance with its terms, except as the same
may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting the rights of creditors generally
and by general principles of equity, whether considered in a proceeding
at law or in equity.

7.    GOVERNING LAW.    THIS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW
OF THE STATE OF NEW YORK INCLUDING MATTERS OF CONSTRUCTION, VALIDITY
AND PERFORMANCE, WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF
LAWS.

8.    Counterparts.    This Agreement may be
executed in any number of counterparts, all of which together shall
constitute a single instrument. It shall not be necessary that any
counterpart be signed by both parties so long as each party shall sign
at least one counterpart.

9.    Third Party
Beneficiaries.    The Assignee hereby agrees, for the benefit of
the Beneficiaries, that its representations, warranties and covenants
contained herein are also intended to be for the benefit of each
Beneficiary, and each Beneficiary shall be deemed to be an express
third party beneficiary with respect thereto, entitled to enforce
directly and in its own name any rights or claims it may have against
such party as such beneficiary.

* * *

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IN WITNESS WHEREOF, the parties
hereto, through their respective officers thereunto duly authorized,
have duly executed this Assignment as of the day and year first above
written.

		ASSIGNOR:

		WILMINGTON
TRUST COMPANY, not in its individual capacity except as expressly
provided herein, but solely as trustee under the Pass Through Trust
Agreement in respect of the JetBlue Airways Pass Through Trust
_________

		By:   __________________________________
Title:

		ASSIGNEE:

		WILMINGTON
TRUST COMPANY, not in its individual capacity except as expressly
provided herein, but solely as trustee under the Pass Through Trust
Agreement in respect of the JetBlue Airways Pass Through Trust
_________

		By:   __________________________________
Title:

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SCHEDULE  I

SCHEDULE OF
ASSIGNED DOCUMENTS

		
	(1) 	[Intercreditor Agreement dated as
of
_____________,
_____ among the Trustee, the Other
Trustee, the Policy Provider, the Liquidity Providers, the liquidity
provider, if any, relating to the Certificates issued under (and as
defined in) the Other Pass Through Trust Agreements and the
Subordination Agent.

		
	(2) 	Escrow and
Paying Agent Agreement (Class ____) dated
as of
_____________,
_____ among the Escrow Agent, the
Underwriters, the Trustee and the Paying Agent.

		
	(3) 	Note Purchase Agreement dated as of
_____________,
_____ among the Company, the
Trustee, the Other Trustee, the Depositary, the Escrow Agent, the
Paying Agent and the Subordination Agent.

		
	(4) 	Deposit Agreement (Class
____) dated as of
_____________,
_____ between the Escrow Agent and
the Depositary.

		
	(5) 	The Policy
(Class____) dated
_____________,
_____, as defined in the
Intercreditor Agreement.

		
	(6) 	The
Policy Provider Agreement dated
_____________,
_____, as defined in the
Intercreditor Agreement.

		
	(7) 	The
Revolving Credit Agreement
(_________)
dated as of
_____________,
_____ between the Subordination
Agent and the Primary Liquidity Provider.

		
	(8) 	The Class
___ Above-Cap Liquidity Facility dated
_____________,
_____, as defined in the
Intercreditor Agreement.

		
	(9) 	Each of
the Operative Agreements (as defined in the Participation Agreement for
each Aircraft) in effect as of the Transfer
Date.]

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EXHIBIT
C

FORM OF NOTICE TO DESIGNATE NOMINEE AS WITHHOLDING
AGENT

(Treas. Reg. §  1.1445-8(f); 17 C.F.R.
240.10b-17(b)(1))

		[DATE]

National Association of Securities Dealers, Inc.
 Market
Operations
 80 Merritt Blvd.
 Trumbull, CT 06611

			
		Re: 	JetBlue Airways Pass Through Trust,
Series
_________

Pass Through Certificates, Series
_________

With respect to distributions to be made on [INSERT
DISTRIBUTION DATE] to holders of the above-referenced Pass Through
Certificates in the amount of
$____________
per $1,000 principal amount of Certificate, we hereby designate the
appropriate nominees to withhold from amounts distributable to any
non-U.S. Person such amounts as required by Section  1446 of the
Internal Revenue Code of 1986, as amended. The term
‘‘non-U.S. Person’’ means any person or entity
that, for U.S. federal income tax purposes, is not a ‘‘U.S.
Person.’’ ‘‘U.S. Person’’ for this
purpose means a citizen or resident of the United States, a
corporation, partnership or other entity created or organized under the
laws of the United States or any political subdivision thereof, or an
estate or trust, the income of which is subject to U.S. federal income
taxation regardless of its source. The date of record for determining
holders of Certificates entitled to receive the distribution on
[INSERT DISTRIBUTION DATE] is [INSERT RELATED RECORD
DATE].

		Very truly
yours,

1

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