Document:

Exhibit 10.14

 

Execution
Copy

 

	
  Dated   3 November 2006

  

 

 

	
   

  	
  AERVENTURE LIMITED

  	
  (1)

  
	
   

  	
  as Borrower

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CALYON S.A.

  	
  (2)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  as Lender

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CALYON S.A.

  	
  (3)

  
	
   

  	
  as Security Trustee

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CALYON S.A.

  	
  (4)

  
	
   

  	
  as Agent

  	
   

  

 

 

FACILITY
AGREEMENT

relating to pre-delivery payments in respect 

of up to twelve (12) Airbus A319-100 Aircraft

and eighteen (18) Airbus A320-200 Aircraft

 

 

 

 

Contents

 

	
  Clause

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  1

  	
  Purpose and definitions

  	
  1

  
	
   

  	
   

  	
   

  
	
  2

  	
  The Facility Amount; Conversion
  Rights

  	
  10

  
	
   

  	
   

  	
   

  
	
  3

  	
  Conditions Precedent

  	
  11

  
	
   

  	
   

  	
   

  
	
  4

  	
  Advances

  	
  12

  
	
   

  	
   

  	
   

  
	
  5

  	
  Interest and Interest Periods;
  alternative interest rates

  	
  13

  
	
   

  	
   

  	
   

  
	
  6

  	
  Repayment and prepayment; withdrawal
  of Aircraft from Facility

  	
  14

  
	
   

  	
   

  	
   

  
	
  7

  	
  Expenses; VAT; stamp duty

  	
  16

  
	
   

  	
   

  	
   

  
	
  8

  	
  Payments and Taxes; accounts and calculations

  	
  17

  
	
   

  	
   

  	
   

  
	
  9

  	
  Representations and warranties

  	
  19

  
	
   

  	
   

  	
   

  
	
  10

  	
  Undertakings

  	
  21

  
	
   

  	
   

  	
   

  
	
  11

  	
  Equity Contribution

  	
  23

  
	
   

  	
   

  	
   

  
	
  12

  	
  Negative Pledge

  	
  24

  
	
   

  	
   

  	
   

  
	
  13

  	
  [Intentionally omitted]

  	
  24

  
	
   

  	
   

  	
   

  
	
  14

  	
  Financial Covenants

  	
  24

  
	
   

  	
   

  	
   

  
	
  15

  	
  Events of Default and Termination

  	
  25

  
	
   

  	
   

  	
   

  
	
  16

  	
  Indemnities

  	
  28

  
	
   

  	
   

  	
   

  
	
  17

  	
  Illegality; increased costs;
  mitigation

  	
  29

  
	
   

  	
   

  	
   

  
	
  18

  	
  Assignment, transfer and lending
  offices

  	
  31

  
	
   

  	
   

  	
   

  
	
  19

  	
  Notices and other matters

  	
  31

  
	
   

  	
   

  	
   

  
	
  20

  	
  Governing law

  	
  33

  
	
   

  	
   

  	
   

  
	
  21

  	
  Jurisdiction

  	
  33

  
	
   

  	
   

  	
   

  
	
  Schedule 1 The Lenders

  	
  34

  
	
   

  	
   

  	
   

  
	
  Schedule 2 Form of Drawdown
  Notice

  	
  35

  
	
   

  	
   

  	
   

  
	
  Schedule 3 Documents and
  evidence required as conditions precedent

  	
  37

  
	
   

  	
   

  	
   

  
	
  Schedule 4 Financial Schedules

  	
  38

  
				

 

 

THIS FACILITY AGREEMENT is dated 3 November 2006 (this “Agreement”)
and made BETWEEN:

 

(1)           AERVENTURE
LIMITED, a company incorporated and existing under
the laws of Ireland having its registered office at AerCap House, Shannon,
County Clare, Ireland (the “Borrower”);

 

(2)           CALYON
S.A., a société anonyme established
and existing under the laws of France acting through its registered office at
9, quai du President Paul Doumer, 92920 Paris La Défense, France in its
capacity as Lender;

 

(3)           CALYON
S.A., a société anonyme established
and existing under the laws of France acting through its registered office at
9, quai du President Paul Doumer, 92920 Paris La Défense, France in its
capacity as security trustee for and on behalf of the Lenders (in such capacity
the “Security Trustee” which expression
shall include any successor thereto); and

 

(4)           CALYON
S.A., a société anonyme established
and existing under the laws of France acting through its registered office at
9, quai du President Paul Doumer, 92920 Paris La Défense, France in its
capacity as agent for and on behalf of the Lenders (in such capacity the “Agent” which expression shall include any successor
thereto).

 

IT IS AGREED as follows:

 

1        Purpose and definitions

 

1.1       Purpose

 

This Agreement sets out the terms and
conditions upon which the Lenders have agreed to make available to the Borrower
a loan facility of up to the Maximum Loan Amount to be used for the purpose of
funding the obligations of the Borrower to make certain Pre-Delivery Payments
due to the Manufacturer pursuant to the Purchase Agreement.

 

1.2       Definitions

 

In this Agreement, unless the context
otherwise requires:

 

“Advance” means
each borrowing of a portion of the Commitment by the Borrower or (as the
context may require) the principal amount of such borrowing;

 

“AerCap” means
AerCap B.V., a company organised and existing under the laws of The Netherlands
whose registered office is at Evert van de Beekstraat 312, 1118 CX Schiphol
Airport, Amsterdam, The Netherlands;

 

“AerCap Holdings”
means AerCap Holdings C.V., a limited partnership (“commanditaire
vennootschap”) organised and existing under the laws of The Netherlands
whose registered office is at Evert van de Beekstraat 312, 1118 CX Schiphol
Airport, Amsterdam, The Netherlands or, as the case may be, following the
transfer of the entire issued share capital of AerCap to AerCap Holdings N.V.,
AerCap Holdings N.V., a “naamlooze vennootschap”
organised and existing under the laws of The Netherlands whose registered
office is at Evert van de Beekstraat 312, 1118 CX Schiphol Airport Amsterdam,
The Netherlands;

 

“AerCap Ireland”
means AerCap Ireland Limited a company incorporated and existing under the laws
of Ireland having its registered office at AerCap House, Shannon, County Clare,
Ireland;

 

“Airbus Letter Agreement”
means the letter agreement dated of even date herewith and made between the
Security Trustee, the Borrower and the Manufacturer pursuant to which the
Manufacturer has agreed to make an additional credit memorandum available in
respect of certain of the Aircraft, on the specific, and strictly confidential,
terms set out therein;

 

1

 

“Aircraft”
means, subject to clause 2.3, together (or, if the context so requires, one or
more of) the twelve (12) Airbus A319-100 and eighteen (18) Airbus A320-200
Aircraft which are the subject of the Purchase Agreement, and references in
this Agreement to “Aircraft N°1”, “Aircraft N°2”, “Aircraft N°3”, “Aircraft N°4”, “Aircraft N°5”, “Aircraft N°6”, “Aircraft N°7” ,
“Aircraft N°8”, “Aircraft N°9”,
“Aircraft N°10”, “Aircraft
N°11”, “Aircraft N°12”,
“Aircraft N°13”, “Aircraft N°14”,
“Aircraft N°15”, “Aircraft
N°16”, “Aircraft N°17”,
“Aircraft N°18”, “Aircraft
N°19”, “Aircraft N°20, “Aircraft N°21”, “Aircraft N°22”,
“Aircraft N°23”, “Aircraft
N°24”, “Aircraft N°25”,
“Aircraft N°26”, “Aircraft
N°27”, “Aircraft N°28”,
“Aircraft N°29” and “Aircraft N°30” shall be deemed to be references to each such
Aircraft in the order of their respective Delivery Dates and any reference to
an Aircraft herein shall be deemed to include the Manuals and Technical Records
and the Engines which are to be delivered with such Aircraft;

 

“Applicable Law”
means, in relation to:

 

(a)     any jurisdiction, any law,
regulation, regulatory requirement, judgment, order or direction or any other
act of any Government Entity of such jurisdiction; and

 

(b)     the European Union, any law,
regulation, directive, decision, regulatory requirement, judgment, order or
direction or any act of any EU Institution,

 

with which any Finance Party or the
Borrower is required to comply, or compliance with which is customary by
persons carrying on the same business either in the same jurisdiction(s) as
such Finance Party or the Borrower or as the case may be, in the European
Union;

 

“Basel Paper”
means the paper entitled “International Convergence of Capital Measurement and
Capital Standards” dated July 1988 and prepared by the Committee on
Banking Regulations and Supervisory Practices (now the Basel Committee on
Banking Supervision) as amended, modified or varied prior to the date hereof;

 

“Basel II Paper”
means the Revised Framework for International Convergence for Capital
Measurement and Capital Standards issued by the Basel Committee on Banking
Supervision in June 2004 and the proposals published by the European
Parliament and Council recasting Directives 2000/12/EC and 93/6/EEC (the Capital
Requirement Directives) and as amended and supplemented from time to time prior
to the date hereof;

 

“Borrower Group”
means the Borrower and its Subsidiaries from time to time;

 

“Break Funding Costs”
means any cost, loss or expense (excluding any loss of Margin) sustained or
incurred by any Lender in maintaining or funding all or any part of the
Loan or in liquidating or re-employing deposits from third parties acquired, or
contracted for, to fund all or any part of the Loan or any other amount
owing to the Lender;

 

“Break Funding Gains”
means any net monetary benefit which is actually realised by any Lender in
maintaining or funding all or any part of the Loan or in liquidating or re-employing
deposits from third parties acquired, or contracted for, to fund all or any part of
the Loan or any other amount owing to the Lender;

 

“Business Day”
means a day (other than a Saturday or Sunday or holiday scheduled by law) on
which banks are open for business in London, Paris, Amsterdam and New York
City;

 

“Business Plan”
means the five (5) year business plan of the Borrower as provided by the Borrower
to the Agent prior to the first Drawdown Date;

 

“Buyer Furnished Equipment”
means, in respect of any Aircraft, the buyer furnished equipment for that
Aircraft;

 

“Capital Adequacy
Requirement” means a request or requirement relating to the
maintenance of capital, including one which makes any change to, or is based on
any alteration in, the interpretation of the Basel Paper and/or the Basel II
Paper or which increases the amounts of capital required thereunder, other
than, with respect to any Lender, a request or requirement 

 

2

 

made by way of implementation of the Basle
Paper and/or the Basel II Paper in the manner in which it is being implemented
at the date hereof by the regulatory authority or authorities supervising such
Lender in the jurisdiction in which such Lender is incorporated or the
jurisdiction through which it is acting for the purposes of this Agreement;

 

“CFM” means CFM
International S.A.;

 

“CFM Engine Assignment”
means the engine warranties and engine credit assignment entered, or to be
entered, into between the Borrower, the Security Trustee and CFM;

 

“CFM General Terms
Agreement” means the general terms agreement, with reference number
9-4196, dated as of 31 August 2006, together with letter agreement no. 1
dated as of 31 August 2006, in each case between CFM and the Borrower;

 

“Change in Law”
means any enactment, introduction, adoption, abolition, making or variation of,
or any change in or in the interpretation, pursuant to a circular issued by a
Government Entity or judgment of a court, of, deletion from or amendment or
addition to, any Applicable Law, in each case, having the force of law in any jurisdiction;

 

“Commitment”
means in relation to the Lenders at any relevant time the Maximum Loan Amount
as reduced by any relevant term of this Agreement and so that, if at such time
the Commitment has been reduced to zero, references to the Commitment shall be
construed as a reference to the Commitment immediately prior to such reduction
to zero;

 

“Compliance Certificate”
means a certificate issued by a director for the time being of the Borrower
which confirms, at any relevant time, whether or not the Borrower has, at such
time, complied with the financial covenants set out in clause 14.2;

 

“Conversion Rights”
means the conversion rights granted by the Manufacturer to the Borrower
pursuant to the Purchase Agreement;

 

“Converted Aircraft”
has the meaning given to such term in clause 2.3.2;

 

“Default” means
any Event of Default or any event or circumstance which would, upon the giving
of a notice by the Agent and/or expiry of the relevant period and/or fulfilment
of any other condition, constitute an Event of Default;

 

“Delivery Date”
means, in respect of each Aircraft, the date on which the Manufacturer shall
tender such Aircraft for delivery to the Borrower, or to any other purchaser of
such Aircraft, and the Borrower, or such other purchaser, shall accept the
same, pursuant to and in accordance with the provisions of the Purchase
Agreement;

 

“Dollars” and “$” mean the lawful currency of the United States of America
and in respect of all payments to be made under this Agreement in Dollars mean
funds which are for same day settlement in the New York Clearing House
Interbank Payments System (or such other U.S. dollar funds as may at
the relevant time be customary for the settlement of international banking
transactions denominated in U.S. dollars);

 

“Drawdown Date”
means each date on which an Advance is or is to be made hereunder;

 

“Drawdown Notice”
means a notice in the form or substantially in the form of schedule 2,
duly completed with particulars of the relevant Advance;

 

“Drawdown Period”
means the period commencing on the date of this Agreement and ending on
whichever is the earlier of (i) the Final Repayment Date or (ii) the
date on which the Commitment is reduced to zero pursuant to any of
clauses 6.3 or 17.1;

 

“Due Date”
means, in respect of each Pre-Delivery Payment for an Aircraft, the date on
which such Pre-Delivery Payment is, at the date of this Agreement, scheduled to
become due and 

 

3

 

payable to the Manufacturer in accordance
with the Purchase Agreement, as set out in schedule 4;

 

“Engines” means (i) in
respect of any A319-100 Aircraft, the two CFM 56-5B6/P model (or any improved
or advanced version thereof) aircraft engines or, as the case may be, the
two IAE V2524-A5 model (or any improved or advanced version thereof) aircraft
engines to be delivered with such Aircraft and (ii) in respect of any
A320-200 Aircraft means the two CFM 56 5B4/P model (or any improved or advanced
version thereof) aircraft engines or, as the case may be, the two IAE
V2527-A5 model (or any improved or advanced version thereof) aircraft engines
to be delivered with such Aircraft;

 

“Engine Agreements”
means, together, the CFM General Terms Agreement and the IAE General Terms
Agreement, and “Engine Agreement” means either of
them;

 

“Engine Agreement Default”
means any event or circumstance which does or would, upon the giving of notice
and/or expiry of the relevant period and/or fulfilment of any other condition,  entitle an Engine Manufacturer to terminate
all or part of an Engine Agreement in accordance with the provisions
thereof;

 

“Engine Assignments”
means, together, the CFM Engine Assignment and IAE Engine Assignment, and “Engine Assignment” means either of them;;

 

“Engine Manufacturer”
means each of CFM and IAE, as the case may be;

 

“Equity Contribution”
means, in respect of an Aircraft, each (or the aggregate, as the context may require)
of the amounts specified in column 4 of the relevant paragraph of schedule 4,
subject to any adjustment being made to such amounts pursuant to clause 11;

 

“Event of Default”
means any of the events or circumstances described in clause 15.1;

 

“Excluded Taxes”
means:

 

(a)        any Tax
which is imposed on or suffered by the affected Finance Party, or payable to
the affected Finance Party in respect of a Tax with respect to, or measured by,
the income or capital gain of the affected Finance Party imposed by:

 

(i)         the
jurisdiction through which it is acting for the purposes of the Relevant
Documents, unless it is imposed or suffered in consequence of any failure by
any other party to any Relevant Document to perform any of its obligations
thereunder; or

 

(ii)        any other
jurisdiction, other than Ireland and any other jurisdiction in which the
Borrower is at the relevant time incorporated or at the relevant time has its
principal place of business, unless such Tax is imposed or suffered in
consequence of (A) any failure by any other party to any Relevant Document
to perform any of its obligations thereunder, (B) any other
connection between the Borrower and such jurisdiction, and/or (C) any
payment by the Borrower under the Relevant Documents being made from, within or
through such jurisdiction; or

 

(b)        any Tax
for which the affected Finance Party has actually been indemnified in full
pursuant to any other provision of any Relevant Document; or

 

(c)        any Tax
to the extent that such Tax would not have been imposed or suffered, or
otherwise would not have arisen, but for any breach by the affected Finance
Party of any of its express obligations under any of the Relevant Documents
(but excluding any breach in consequence of a failure by any other party to a
Relevant Document to perform any of its obligations thereunder); or

 

(e)        any Tax
to the extent that such Tax would not have been imposed or suffered but for any
misrepresentation made by the affected Finance Party under any of the Relevant 

 

4

 

Documents to which it is a party (but excluding any
breach in consequence of a failure by any other party to any Relevant Document
to perform any of its obligations thereunder); or

 

(f)         any Tax
which would not have been imposed or suffered but for a reasonably avoidable
delay or failure by the affected Finance Party in filing tax computations or
returns, or in paying any Tax, which:

 

(i)         it is
required by Applicable Law of the jurisdiction through which it is acting for
the purposes of the Relevant Documents to file or, as applicable, pay; or

 

(ii)        it is
required by any other Applicable Law to file or, as applicable, pay and:

 

(A)       the
Borrower (acting reasonably) has requested the affected Finance Party to make
such filing or, as applicable, pay such Tax, and

 

(B)       in the
case of the payment of a Tax, other than a Tax which is an Excluded Tax
pursuant to the other provisions of this definition, there has been advanced to
the affected Finance Party sufficient funds to enable it to pay the Tax in
full; or

 

(g)        any Tax
which arises solely from an act or omission which constitutes gross negligence
or wilful default by the affected Finance Party;

 

“Fee Letters”
means the letters between the Borrower, the Agent and the Security Trustee with
respect to certain fees, costs and expenses payable by the Borrower in
connection with the Relevant Documents;

 

“Final Purchase Price”
has the meaning given to such term in the Purchase Agreement Assignment;

 

“Final Repayment Date”
means 31 January 2010;

 

“Finance Parties”
means the Lenders, the Security Trustee and the Agent and “Finance
Party” shall mean any of them;

 

“Financial Indebtedness”
means any indebtedness for or in respect of:

 

(a)     moneys borrowed;

 

(b)    any amount raised by acceptance
under any acceptance credit facility;

 

(c)     any amount raised pursuant to any
note purchase facility or the issue of bonds, notes, debentures, loan stock or
any similar instrument;

 

(d)    the amount of any liability in
respect of any lease or hire purchase contract which would, in accordance with
GAAP, be treated as a finance or capital lease;

 

(e)     receivables sold or discounted
(other than any receivables to the extent they are sold on a non-recourse
basis);

 

(f)     any amount raised under any other
transaction (including any forward sale or purchase agreement) having the
commercial effect of a borrowing;

 

(g)    any derivative transaction entered
into in connection with protection against or benefit from fluctuation in any
rate or price (and, when calculating the value of any individual derivative
transaction, only the marked to market value of that derivative transaction
shall be taken into account);

 

5

 

(h)    any counter-indemnity obligation
in respect of a guarantee, indemnity, bond, standby or documentary letter of
credit or any other instrument issued by a bank or financial institution; and

 

(i)      the amount of any liability in
respect of any guarantee or indemnity for any of the items referred to in
paragraphs (a) to and including (h) above,

 

but excluding any counter-indemnity obligation of the
nature referred to in paragraph (h) above and/or any derivative
transaction referred to in paragraph (g) above, in each case, to the
extent that such obligations and liabilities under the corresponding instrument
are fully cash-collateralised.

 

“Financial Covenants”
has the meaning given to such term in clause 14.3;

 

“Government Entity”
means (i) any national, state or local government, (ii) any board,
commission, department, division, courts or agency or political sub-division
thereof, howsoever constituted, and (iii) any association, organisation or
institution (international or otherwise) of which any entity mentioned in (i) or
(ii) above is a member or to whose jurisdiction it is subject or in whose
activities it is a participant;

 

“IAE” means IAE
International Aero Engines AG;

 

“IAE Engine Assignment”
means the engine security assignment entered, or to be entered, into between
the Borrower and the Security Trustee, together with the engine consent and
agreement thereto executed by each of the Borrower, the Security Trustee and
IAE;

 

“IAE General Terms
Agreement” means the engine general terms agreement dated 10 August 2006
between IAE and the Borrower;

 

“Inactive Aircraft”
means any Aircraft in respect of which no Advances have been made pursuant to
this Agreement;

 

“Instructing Group”
has the meaning given to such term in the Trust Deed;

 

“Interest Payment Date”
means the last day of an Interest Period;

 

“Interest Period”
means in relation to any Advance or the Loan or any part thereof each
period for the calculation of interest in respect of such Advance or the Loan
or part thereof ascertained in accordance with clause 5.2;

 

“Last Scheduled Delivery
Date” means, in respect of each Aircraft, the last day of the
Scheduled Delivery Month for such Aircraft;

 

“Lenders” means
the institutions named in schedule 1 and includes their respective
successors, permitted Transferees and assigns and “Lender”
means any one of them;

 

“Lender’s Proportion”
means, in respect of any Lender, that percentage of the Commitment specified
opposite that Lender in schedule 1 and/or in any Substitution Certificate,
as the same may be reduced or increased pursuant to any Substitution
Certificate and/or further reduced or cancelled pursuant to the terms of this
Agreement;

 

“LIBOR” means,
in relation to any amount denominated in Dollars and for any period, the rate
for deposits in Dollars for that amount and for that period which is:

 

(a)     appearing on page 3750 (or
similar page, if the Telerate page 3750 is not or no longer available) for
Dollars on the Bridge/Telerate screen at or about 11:00 a.m. (London time)
on the Quotation Date relating to that period; or

 

(b)    if (a) does not apply, the
arithmetic mean (rounded to the nearest four decimal places) of the rates, as
supplied to the relevant Agent at its request, quoted by the Reference Banks 

 

6

 

to
leading banks in the European interbank market, at or about 11:00 a.m.
(London time) on the Quotation Date relating to that period, for the offering
of deposits in Dollars in an amount comparable with that amount and for a
period comparable to that period;

 

“Lien” means any
encumbrance or security interest whatsoever, howsoever created or arising,
including any right of ownership, security, mortgage, pledge, assignment by way
of security, charge, lease, lien, statutory right in rem, hypothecation, title
retention arrangement, attachment, levy, claim, right of detention or security
interest whatsoever, howsoever created or arising, or any right or arrangement
having a similar effect to any of the above;

 

“LoadAir” means
International Cargo Airlines Company KSC, a joint stock company incorporated in
Kuwait (commercial register number 109323 and registered at the Kuwait Chamber
of Commerce and Industry since 2005 under number 97424 with commercial licence
number Public Shareholder/57/2004) whose registered office is at Free Trade
Zone, Kuwait City 70655, Kuwait;

 

“Loan” means the
aggregate principal amount owing to the Lenders under this Agreement at any
relevant time;

 

“Mandatory Prepayment Event”
means any of the events or circumstances set out in clause 6.3;

 

“Manuals and Technical
Records” means together those records, logs, manuals, technical data
and other materials and documents relating to the Aircraft, together with any
amendments thereto, as shall be or are to be delivered pursuant to the Purchase
Agreement;

 

“Manufacturer”
means Airbus S.A.S., a Société par Actions
Simplifiée duly created and existing under French law having its
principal office at 1 rond-point Maurice Bellonte, 31707 Blagnac Cedex, France,
including its successors and assigns, in its capacity as Manufacturer together
with its successors in title and permitted assigns;

 

“Margin” means
one point six five per cent (1.65%) per annum;

 

“Maximum Loan Amount”
means one hundred and eighteen million nine hundred and twelve thousand two
hundred and eighty two Dollars ($118,912,282);

 

“Maximum Loan Outstanding”
means eighty five million eighty nine thousand four hundred and ninety seven
Dollars ($85,089,497);

 

“Net Aircraft Price”
means, in respect of each Aircraft, the Final Purchase Price for that Aircraft
net of all applicable credit memoranda and including (i) Buyer Furnished
Equipment up to a maximum of six hundred and eighty four thousand six hundred
and twenty three Dollars ($684,623) in respect of any A319-100 Aircraft and
seven hundred and sixty two thousand two hundred and twenty two Dollars
($762,222) in respect of any A320-200 Aircraft and (ii) Specification
Change Notices up to maximum of five hundred thousand Dollars ($500,000) of
Specification Change Notices in respect of any A319-100 Aircraft and five
hundred and seventy thousand Dollars ($570,000) in respect of any A320-200
Aircraft with each of the Dollar figures referenced in this definition being
calculated by reference to economic conditions prevailing as of January 2005
and by reference to a theoretical delivery of the relevant Aircraft in January 2005;

 

“Net Aircraft Price Maximum”
means

 

(a)     in respect of any A319-100
Aircraft, thirty three million two hundred thousand Dollars ($33,000,000); and

 

(b)     in respect of any A320-200
Aircraft, thirty six million seven hundred and fifty thousand Dollars ($36,500,000),

 

7

 

in each case, calculated by reference to
economic conditions prevailing as of January 2005 and by reference to a
theoretical delivery of such Aircraft in January 2005 and subject to
escalation at a maximum rate of three per cent (3.0%) per annum;

 

“Ownership Letter Agreement”
means the letter to be issued by AerCap Ireland in favour of the Security
Trustee pursuant to which AerCap Ireland will issue certain guarantees to the
Security Trustee in respect of the funding of the Borrower and give certain
confirmations in respect of AerCap Ireland’s ownership of the Borrower, such
letter to be in form and substance satisfactory to the Security Trustee,
acting reasonably;

 

“Pre-Delivery Payments”
means, in respect of each Aircraft, the payments to be made to the Manufacturer
in respect of such Aircraft prior to the Delivery Date therefor pursuant to the
Purchase Agreement, as more particularly set out for each Aircraft in schedule 3
to the Purchase Agreement Assignment, and “Pre-Delivery Payment”
means any one of such payments;

 

“Purchase Agreement”
means the purchase agreement dated 30 December 2005 and entered into
between the Borrower and the Manufacturer in relation to the Aircraft;

 

“Purchase Agreement
Assignment” means the security assignment relating to the Purchase
Agreement entered, or to be entered, into between the Borrower and the Security
Trustee, together with the consent and agreement thereto executed by each of
the Borrower, the Security Trustee and the Manufacturer;

 

“Purchase Agreement Default”
means any event or circumstance which does or would, upon the giving of notice
and/or expiry of the relevant period and/or fulfilment of any other condition,  entitle the Manufacturer to terminate all or part of
the Purchase Agreement in accordance with the provisions thereof;

 

“Quarterly Date”
means the last Business Day in each of March, June, September and December in
each calendar year throughout the Drawdown Period;

 

“Quotation Date”
means, in relation to an Interest Period or other period for which LIBOR is to
be determined, the date which is two Business Days prior to the first day of
the relevant Interest Period or other period or, if such day is not a Business
Day, the immediately preceding Business Day;

 

“Reference Banks”
means the London branches of Calyon, The Sumitomo Mitsui Banking Corporation
and Norddeutsche Landesbank Girozentrale;

 

“Relevant Documents”
means this Agreement, the Purchase Agreement, the Airbus Letter Agreement, each
Engine Assignment, the Purchase Agreement Assignment, the Trust Deed, the Fee
Letters, the Ownership Letter Agreement and each notice, acknowledgement, deed,
certificate, consent or other document issued pursuant to any of the foregoing
and any other which the Borrower and the Agent agree in writing shall be a
Relevant Document;

 

“Repayment Date”
means, subject to clause 8.2 and in respect of any Advance, the earlier of (i) the
Delivery Date for the Aircraft in respect of which such Advance is made, (ii) any
date on which the obligation of the Manufacturer to sell and of the Borrower to
purchase that Aircraft pursuant to the Purchase Agreement is cancelled or
otherwise terminated, (iii) any other date on which the Borrower becomes
obliged to repay or prepay such Advance in accordance with the terms hereof,
and (iv) the Final Repayment Date;

 

“Scheduled Delivery Month”
means, in respect of each Aircraft and subject to clause 6.2, the month in
which the delivery thereof is, as at the date of this Agreement, scheduled to
occur, as set out in schedule 4;

 

“Specification Change
Notice” or “SCN” means any
Specification Change Notice issued by the Borrower pursuant to the Purchase
Agreement;

 

8

 

“Subsidiary”
means, in relation to any person, any other person:

 

(a)        which is controlled, directly
or indirectly, by the first mentioned person (and, for this purpose, a person
shall be treated as being controlled by another if that other person is able to
direct its affairs and/or control the composition of its board of directors or
equivalent body);

 

(b)        more than half the issued
share capital of which is beneficially owned, directly or indirectly, by the
first mentioned person;

 

(c)        which is a Subsidiary of
another Subsidiary of the first mentioned person; or

 

(d)        where the beneficial interest
of such other person, if it is a trust, association or other unincorporated
organisation, is more than fifty per cent (50%) owned, directly or indirectly,
by the first mentioned person;

 

“Substitution Certificate”
has the meaning given to such term in the Trust Deed;

 

“Taxes” includes
all present and future taxes (including sales, use, excise, personal property
and other taxes), levies, imposts, duties, fees or governmental or other
charges of whatever nature together with interest thereon and penalties in
respect thereof, and “Tax” and “Taxation” shall be construed accordingly;

 

“Transferee” has
the meaning given to such term in the Trust Deed;

 

“Trust Deed”
means the trust deed of even date herewith, entered into between the Borrower,
the Lenders, the Agent and the Security Trustee; and

 

“Variation Notice”
has the meaning given to such term in clause 14.4.2.

 

1.3       Headings

 

Clause headings and the table of contents
are inserted for convenience of reference only and shall be ignored in the
interpretation of this Agreement.

 

1.4       Construction
of certain terms

 

In this Agreement, unless the context
otherwise requires:

 

1.4.1           references to clauses and schedules are to be construed as
references to the clauses of, and schedules to, this Agreement and references
to this Agreement include its schedules;

 

1.4.2           references to (or to any specified provision of) this Agreement or
any other document shall be construed as references to this Agreement, that
provision or that document as in force for the time being and as may be
amended from time to time in accordance with its terms and where consent is, by
the terms of any Relevant Document, required to be obtained as a condition to
such amendment being permitted, with the prior written consent of the relevant
parties;

 

1.4.3           references to a “regulation”
include any present or future regulation, rule, directive, requirement, request
or guideline (whether or not having the force of law) of any agency, authority,
central bank or government department or any self-regulatory or other national
or supra-national authority;

 

1.4.4           words importing the plural shall include the singular and vice
versa;

 

1.4.5           unless otherwise expressly stated, references to a time of day are
to Paris time;

 

9

 

1.4.6           references to a “person” shall
be construed as including references to an individual, firm, company,
corporation, unincorporated body of persons or any Government Entity or any of
its agencies;

 

1.4.7           references to “assets” include
all or part of any business, undertaking, real property, personal
property, uncalled capital and any rights (whether actual or contingent,
present or future) to receive, or require delivery of, any of the foregoing;

 

1.4.8           references to a “guarantee”
include references to an indemnity or other assurance against financial loss
including, without limitation, an obligation to purchase assets or services as
a consequence of a default by any other person to pay any Financial
Indebtedness and “guaranteed”
shall be construed accordingly;

 

1.4.9           references to the “equivalent” of
an amount specified in a particular currency (the “specified
currency amount”) shall be construed as a reference to the amount of
the other relevant currency which can be purchased with the specified currency
amount in the London foreign exchange market at or about 11 a.m. London
time on the day on which the calculation falls to be made for spot delivery as
determined by the Lenders; and

 

1.4.10         references to any enactment shall be deemed to include references to
such enactment as re-enacted, amended or extended.

 

2          The
Facility Amount; Conversion Rights

 

2.1       Agreement
to advance Loan

 

The
Lenders, relying upon each of the representations and warranties in
clause 9, agree to lend to the Borrower upon and subject to the terms of
this Agreement a principal sum of up to the Maximum Loan Amount. The obligation
of each Lender under this Agreement shall be to make its Lender’s Proportion of
each Advance on the Drawdown Date of such Advance.

 

2.2       Obligations
several

 

The
obligations of each Lender under this Agreement are several; the failure of any
Lender to perform such obligations shall not relieve any other Lender, the
Agent or the Borrower of any of their respective obligations or liabilities
under this Agreement nor shall the Agent be responsible for the obligations of
any Lender (except for its own obligations, if any, as a Lender) nor shall any
Lender be responsible for the obligations of any other Lender under this
Agreement.

 

2.3       Conversion
Rights

 

2.3.1     The Finance Parties acknowledge
that, pursuant to the Conversion Rights, the Borrower has the right, on the
terms and subject to the conditions set out in the Purchase Agreement, to convert
an A319-100 Aircraft to an A320-200 Aircraft and vice versa.

 

2.3.2     The Finance Parties agree to the
exercise by the Borrower of the Conversion Rights in the manner contemplated by
the Purchase Agreement, provided that:

 

(a)     the Borrower shall have given the
Agent as much notice as is practicably possible but in any event not less than
ten (10) Business Days’ written notice prior to exercising a Conversion
Right in respect of any Aircraft and shall specify the Aircraft which is the
subject of such Conversion Right (a “Converted Aircraft”);

 

(b)    the Manufacturer shall have provided
to the Borrower (with a copy to the Agent) the revised configuration of the Converted
Aircraft, together with the revised amounts of the relevant Pre-Delivery
Payments for the Converted Aircraft;

 

(c)     unless the Agent (acting on the
instructions of the Instructing Group) shall have otherwise agreed in writing,
the exercise of such Conversion Right shall not cause more than eighty per cent
(80%) of the Aircraft to be of the same type; and

 

10

 

(d)    the exercise of such Conversion
Right shall not cause the Maximum Loan Amount to be increased.

 

2.3.3     Following the exercise by the
Borrower of a Conversion Right in accordance with clause 2.3.2, the Agent shall
deliver to the Borrower a replacement schedule 4. Such replacement schedule shall,
when agreed by the Agent and the Borrower, in the absence of manifest error, be
conclusive and binding on the parties hereto. Following such agreement by the
Agent and the Borrower, all references in this Agreement to “schedule 4”
shall be deemed to be a reference to such replacement schedule.

 

3          Conditions Precedent

 

3.1       Documents and evidence

 

The
obligation of the Lenders to make the Commitment available shall be subject to
the conditions that, not later than three (3) Business Days before the day
on which the Drawdown Notice in respect of the first Advance is given, the
Agent shall have received the documents and evidence specified in schedule 3
in form and substance satisfactory to the Security Trustee and the Agent.

 

3.2       Advance
conditions precedent

 

The
obligation of the Lenders to make each Advance is subject to the conditions
that at the date of the Drawdown Notice and on the Drawdown Date in respect of
such Advance:

 

3.2.1           the Advance made shall not
result in the Loan exceeding the Maximum Loan Outstanding;

 

3.2.2           the representations and warranties
set out in clause 9.1 (other than the representations and warranties in
clauses 9.1.8 and 9.1.11, and so that the representation and warranty in
clause 9.1.10 shall for this purpose refer to the then latest audited
financial statements delivered to the Agent under clause 10.1) are true
and correct on and as of such dates as if each were made with respect to the
facts and circumstances existing at such dates;

 

3.2.3           the Agent shall have
received a Drawdown Notice for such Advance in accordance with clause 4.1;

 

3.2.4           no Default shall have
occurred; and

 

3.2.5           no Purchase Agreement
Default or Engine Agreement Default shall have occurred;

 

3.3        The obligation of the Lenders
to make each Advance is subject to the further conditions that, on the Drawdown
Date in respect of such Advance:

 

3.3.1           the Agent shall have
received from the Borrower (i) by 12 noon (Paris time) on the Drawdown
Date, a copy of the SWIFT message (MT103 or equivalent) in respect of the
payment of the Equity Contribution corresponding to such Advance and (ii) by
2.00pm (Paris time) on the Drawdown Date, payment of the Equity Contribution
corresponding to such Advance for onward disbursement by the Agent to the
Manufacturer to the account specified in clause 4.3 on the express
understanding that the Agent and each Lender waives any rights which it may have
to set off such amount against any other amounts then owing to the Agent or
such Lender under any other transaction to which the Agent and the Borrower or,
as the case may be, the relevant Lender and the Borrower, are party and
the Agent and each Lender hereby waives any and all such rights;

 

3.3.2           the Finance Parties shall
have approved the Final Purchase Price of the relevant Aircraft and the Agent
shall have received written confirmation from the Manufacturer as to the
Balance of the Final Purchase Price (as defined in the Purchase Agreement
Assignment) for the relevant Aircraft provided that to the extent that such
confirmation is contained in the executed consent and agreement of the Manufacturer
to the Purchase Agreement Assignment, and such executed consent and agreement
is received by the Agent on or prior 

 

11

 

to the
Drawdown Date for the first Advance hereunder, no separate written confirmation
shall be required in respect of the drawdown of any subsequent Advance;

 

3.3.3     in respect of the drawdown of the
first Advance for any Aircraft, the Agent shall have received copies of the
Borrower’s bank statements evidencing, to the reasonable satisfaction of the
Agent, the payment of any and all Equity Contributions made by the Borrower to
the Manufacturer in respect of that Aircraftprior to the Drawdown Date of such first
Advance; and

 

3.3.4     any other amounts due and owing by
the Borrower to any of the Finance Parties under this Agreement or otherwise to
any party to the Fee Letters, in each case, as at the Drawdown Date shall have
been paid in full.

 

3.4       Waiver of
conditions precedent

 

The conditions specified in this clause 3
are inserted solely for the benefit of the Lenders and may be waived in
whole or in part and with or without conditions by the Agent (acting on
the instructions of the Instructing Group) in respect of the first or any other
Advance without prejudicing the right of the Lenders to require fulfilment of
such conditions in whole or in part in respect of any other Advance.

 

4          Advances

 

4.1       Drawdown

 

Subject
to the terms and conditions of this Agreement an Advance shall be made
available to the Borrower following receipt by the Agent from the Borrower of a
Drawdown Notice not later than 12 noon on the third Business Day before the
proposed Drawdown Date. A Drawdown Notice shall be effective on actual receipt
by the Agent and, once given, shall, subject as provided in clause 5.5.1,
be irrevocable. For the avoidance of doubt, the Borrower may, subject to the
terms and conditions of this Agreement, issue Drawdown Notices in respect of
one or more Advances to be made on the same Drawdown Date.

 

4.2       Amount

 

4.2.1     Subject to clause 4.2.2 each
Advance shall be made in respect of one Pre-Delivery Payment on or prior to the
relevant Drawdown Date, and shall be for a maximum amount of the lesser of:

 

(a)     the amount of the relevant
Pre-Delivery Payment less any relevant Equity Contribution; and

 

(b)    the difference between (i) the
Maximum Loan Amount and (ii) the aggregate of the amount of the Loan
immediately prior to the Drawdown Date and the aggregate amount of any other
Advances to be made by the Lender on or prior to such Drawdown Date.

 

4.2.2     Only one Advance may be made
in respect of any Pre-Delivery Payment.

 

4.3       Application
of monies advanced

 

All
payments with respect to the Advances shall be made by the Lenders to the Agent
for further disbursement, without further notice from the Borrower, by the
Agent to the account of the Manufacturer with Calyon, account no. 31489
00020 00099175322 91 (or such other account of the Manufacturer with Calyon
from time to time).

 

4.4       Termination
of Commitment

 

Any part of
the Commitment undrawn and uncancelled at the end of the Drawdown Period shall
thereupon be automatically reduced to zero.

 

12

 

5          Interest and Interest Periods; alternative
interest rates

 

5.1       Normal
interest rate

 

Subject to clause 5.5, the Borrower shall
pay interest on each Advance or, as the case may be, the Loan in respect
of each Interest Period on the relevant Interest Payment Date at the rate per
annum determined by the Agent to be the aggregate of (a) the Margin and (b) one
month LIBOR.

 

5.2        Determination
of Interest Periods

 

Subject
to clause 5.5, each Interest Period shall be determined as follows:

 

5.2.1           the initial Interest Period
in respect of the first Advance shall commence on the Drawdown Date therefor
and have a duration of one month;

 

5.2.2           subject as otherwise
provided in this clause 5.2, subsequent Interest Periods in respect of the
first Advance shall commence on the expiry of the previous Interest Period
therefor and shall have a duration of one month;

 

5.2.3           the initial Interest Period
in respect of each subsequent Advance shall commence on the Drawdown Date
therefor and shall end on the same day as the then current Interest Period for
the first Advance ends; and

 

5.2.4           if the Interest Period for
an Advance would otherwise overrun a Repayment Date for that Advance, such
Interest Period shall terminate on that Repayment Date.

 

5.3       Interest
for late payment

 

If the Borrower fails to pay any sum
(including, without limitation, any sum payable pursuant to this clause 5.3) on
its due date for payment under this Agreement, the Borrower shall pay interest
on such sum from the due date up to the date of actual payment (after as well
as before judgement) at a rate and for periods determined by the Agent pursuant
to this clause 5.3. The period beginning on such due date and ending on such
date of payment shall be divided into successive periods of not more than one
month as selected by the Agent each of which (other than the first, which shall
commence on such due date) shall commence on the last day of the preceding such
period. The rate of interest applicable to each such period shall be the
aggregate (as determined by the Agent) of (a) two per cent (2%), (b) the
Margin, and (c) LIBOR. Interest under this clause 5.3 shall be due
and payable on the last day of each period determined by the Agent pursuant to
this clause 5.3 or, if earlier, on the date on which the sum in respect of
which such interest is accruing shall actually be paid.

 

5.4       Notification
of Interest Periods and interest rate

 

Unless expressly provided for in this
Agreement, the Agent shall notify the Borrower promptly of the duration of each
Interest Period or other period for the calculation of interest (or, as the
case may be, default interest) and of each rate of interest determined
under this clause 5.

 

5.5       Market
disruption; non-availability

 

5.5.1     If and whenever, at any time
prior to the commencement of any Interest Period, the Agent shall have
determined (which determination shall, in the absence of manifest error, be
conclusive) that:

 

(a)     adequate and fair means do not
exist for ascertaining LIBOR for such Interest Period; or

 

(b)    deposits in Dollars are not
available to the Lenders in the London Interbank Market in the ordinary course
of business in sufficient amounts to fund the Loan for such Interest Period or
that LIBOR does not accurately reflect the cost to the Lenders of obtaining
such deposits,

 

13

 

the
Agent shall forthwith give notice (a “Determination Notice”)
to the Borrower. A Determination Notice shall contain particulars of the
relevant circumstances giving rise to its issue. After the giving of any
Determination Notice the undrawn amount of the Commitment shall not be borrowed
until notice to the contrary is given to the Borrower by the Agent.

 

5.5.2     During the period of 15 days
after any Determination Notice has been given by the Lender under
clause 5.5.1, the Borrower shall enter into negotiations with a view to
agreeing an alternative basis (the “Substitute Basis”)
for making available or, as the case may be, maintaining the Loan. The
Substitute Basis may (without limitation) include alternative interest
periods, alternative currencies or alternative rates of interest but shall
include a margin above the cost of funds reasonably available to the Lenders
equivalent to the Margin. The Substitute Basis so certified shall be binding
upon the Borrower and shall take effect in accordance with its terms from the
date specified in the Determination Notice until such time as the Agent
notifies the Borrower that none of the circumstances specified in
clause 5.5.1 continues to exist (which the Agent shall do promptly upon
any determination by the Agent that none of such circumstances continues to
exist) whereupon the normal interest rate fixing provisions of this Agreement
shall apply.

 

5.5.3     In the event that the Borrower
and the Agent are unable to agree upon the Substitute Basis pursuant to the
procedure set out in clause 5.5.2, the Substitute Basis shall be such alternative
basis as the Agent shall certify, acting reasonably.

 

6        Repayment and prepayment; withdrawal of
Aircraft from Facility

 

6.1       Repayment

 

The
Borrower shall repay each Advance in full in one instalment on the Repayment
Date for such Advance.

 

6.2       Delivery
Date delay

 

In the event that the Delivery Date for any
Aircraft shall not have occurred on or before the Last Scheduled Delivery Date
therefor and provided that:

 

6.2.1           the Borrower shall have
given the Agent as much notice as is practicably possible but in any event not
less than ten (10) Business Days’ written notice prior to such Last
Scheduled Delivery Date of the likelihood of such non-occurrence;

 

6.2.2           the Manufacturer shall have
certified to the Borrower (with a copy to the Agent) such non-occurrence and
the revised scheduled Delivery Date for that Aircraft; and

 

6.2.3           such deferral shall not
cause the Loan to exceed the Maximum Loan Outstanding,

 

the Borrower
shall be entitled, subject to the proviso below, by written notice to the Agent
provided not later than three (3) Business Days prior to the Last
Scheduled Delivery Date for that Aircraft, to defer the Repayment Date for the
Advance in respect of that Aircraft. If, following any deferment, the Delivery
Date for an Aircraft is further delayed, provided that the conditions set out
in clauses 6.2.2 and 6.2.3 continue to be satisfied and subject to the proviso
below, the Borrower shall be entitled, by further written notice to the Agent
provided not later than three (3) Business Days prior to the previous revised
scheduled Delivery Date for that Aircraft, to further defer the Repayment Date
for the Advances in respect of that Aircraft.

 

PROVIDED ALWAYS THAT the Repayment Date for the Advance in respect of an Aircraft may not
be deferred to a date which is later than the earlier of the date falling three
(3) months after the Last Scheduled Delivery Date for that Aircraft and the
Final Repayment Date.

 

6.3       Mandatory
Prepayment

 

Each of the events and circumstances set
out below is a Mandatory Prepayment Event:

 

14

 

6.3.1           Seizure: all or substantially
all of the undertaking, assets, rights or revenues of, or shares in, the
Borrower are seized, expropriated, nationalised or compulsorily acquired by or
under the authority of any Government Entity; or

 

6.3.2           Consents and
Authorisations: any consent, authorisation, licence or approval of, or
registration with or declaration to any person required by the Borrower to
authorise, or required by the Borrower in connection with, the execution,
delivery, legality, validity, priority, enforceability, admissibility in
evidence or effectiveness of this Agreement or any other Relevant Document or
the performance by the Borrower of any of its material obligations thereunder
is modified in a manner which is, will or is likely to be materially
prejudicial to the rights, interests or position of the Lenders or is not
granted or is revoked, withdrawn or terminated or expires or is not renewed or
otherwise ceases to be in full force and effect in each case as a result of an
act or omission of the Borrower and such modification, failure to grant,
revocation, withdrawal, termination, expiry, non-renewal or cessation, if
capable of remedy, is not remedied within fifteen(15) Business Days of the
occurrence thereof; or

 

6.3.3           Purchase Agreement and
Engine Agreements: the Purchase Agreement or any Engine Agreement is terminated
or cancelled for any reason or otherwise ceases to constitute the legal, valid
and binding obligations of the parties thereto; or

 

6.3.4           Breach of Ownership Letter
Agreement: AerCap Ireland fails to honour any demand made under any of the
guarantees contained in the AerCap Ireland Ownership Letter or otherwise breaches
any of the provisions of the Ownership Letter Agreement.

 

Following
the occurrence of a Mandatory Prepayment Event the Agent may demand
repayment of the Loan and, if the Agent does demand that repayment, on the date
specified in that demand (which will not be earlier than the immediately succeeding
Business Day):

 

(a)     the Lenders’ obligations to make
available the Commitment shall be terminated whereupon the Lenders shall be
discharged from their obligation to make further Advances; and

 

(b)    the Loan and all interest accrued
and all other sums payable under this Agreement shall become immediately due
and payable forthwith.

 

6.4       Voluntary
Prepayment

 

6.4.1     Subject to the receipt by the
Agent of at least five (5) Business Days notice from the Borrower (such
notice being irrevocable), the Borrower shall have the right to prepay on any
Interest Payment Date:

 

(a)     the Loan or the Advance in
respect of any Aircraft, in each case in full; and/or

 

(b)     the Loan or the Advance in
respect of any Aircraft, in each case in part in integral multiples of five
million Dollars ($5,000,000).

 

6.4.2     The Borrower shall also have the
right to prepay the Advance in respect of an Aircraft and/or the Loan on any
date which is not an Interest Payment Date subject to the same conditions with
respect to notice and, in the case of any prepayment in part of the Loan
or the Advance in respect of any Aircraft, the minimum amount of such
prepayment set out in clause 6.4.1 being satisfied.

 

6.4.3     Any prepayment under clause 6.3,
clause 6.4.1, clause 16.2 or any other provision of this Agreement shall
be made together with (a) accrued interest to the date of prepayment; (b) any
additional amount payable under clauses 8.3.1, 16.1 and/or 16.3; and (c) all
other sums then due and payable by the Borrower to the Finance Parties under
this Agreement.

 

15

 

6.5       Effect of
prepayment

 

No amount prepaid may be reborrowed and, in the case of any
prepayment of the Loan in part pursuant to clause 6.4.1(b), any amount
prepaid shall be applied in reducing the repayment instalments under
clause 6.1 in inverse order of the dates on which such repayment
instalments are due. For the avoidance of doubt, the Maximum Loan Amount shall
not be increased by reason of such prepayment.

 

6.6       No other
prepayment

 

The Borrower may not prepay any
Advance, the Loan or any part thereof save as expressly provided for in
this Agreement.

 

6.7       Reduction
of Commitment in respect of Inactive Aircraft

 

The Borrower shall have the right, which may be
exercised at any time by the Borrower giving written notice to the Agent and
the Security Trustee, to withdraw any Inactive Aircraft specified in such
notice from the scope of this Agreement. In the event that the Borrower issues
any such written notice, the Inactive Aircraft specified therein shall
immediately cease to be “Aircraft” for the purposes of this Agreement; the
undrawn and uncancelled Commitment shall immediately be reduced by the amount
of the Advances which the Borrower would otherwise have been entitled to draw
in respect of such Inactive Aircraft and the Assigned Rights (as defined in the
Purchase Agreement Assignment) in respect of such Aircraft shall automatically,
and without further act, be re-assigned to the Borrower in accordance with
clause 4.3 of the Purchase Agreement Assignment.

 

7        Expenses; VAT; stamp duty

 

7.1       Expenses

 

The Borrower shall pay to the Agent on
demand:

 

7.1.1           all reasonable costs and
expenses (including, but not limited to, legal and out-of-pocket expenses)
incurred by the Finance Parties in connection with the negotiation,
preparation, execution and implementation of this Agreement and the other
Relevant Documents, as evidenced to the Borrower in writing by the relevant
Finance Party;

 

7.1.2           all reasonable costs and
expenses (including legal and out-of-pocket expenses) incurred by the Finance
Parties in connection with any amendment or extension of, or the granting of
any waiver or consent under, this Agreement or any of the other Relevant
Documents, as evidenced to the Borrower in writing by the relevant Finance
Party; and

 

7.1.3           all costs and expenses (including
legal and out-of-pocket expenses and, in the case of the Agent and the Security
Trustee only, including all reasonable expenses referable to the cost of
management time following the occurrence of an Event of Default) properly
incurred by the Finance Parties in contemplation of, or otherwise in connection
with, the enforcement or attempted enforcement of, or preservation or attempted
preservation of any rights under, this Agreement or any of the other Relevant
Documents, together with interest at the rate referred to in clause 5.3
from the date on which such expenses were incurred to the date of payment
(after as well as before judgement).

 

7.2       Value
added tax

 

All
fees, costs, losses and expenses payable by the Borrower under this
clause 7, clause 17, clause 18 or any other provision of this Agreement
and the other Relevant Documents shall be paid together with an amount equal to
any value added or equivalent Tax (but excluding Excluded Taxes) payable by the
relevant Finance Party in respect of such fees, costs, losses and expenses, in
addition to any other sum agreed to be paid by the Borrower under this
Agreement and the other Relevant Documents.

 

16

 

7.3    Stamp and
other duties

 

The Borrower shall pay all stamp,
registration or other documentary duties or Taxes (including any registration,
documentary duties or Taxes payable by, or assessed on, a Finance Party but
excluding Excluded Taxes) imposed on or in connection with this Agreement, any
other Relevant Document, the Loan or any Advance and shall indemnify the
Finance Parties on written demand by the relevant Finance Party against any
liability arising by reason of any delay or omission by the Borrower to pay
such duties or Taxes (other than Excluded Taxes).

 

8        Payments and Taxes; accounts and
calculations

 

8.1       No set-off
or counterclaim; distribution to the Lenders

 

All payments to be made by the Borrower
under this Agreement shall be made in full, without any set-off or counterclaim
whatsoever and, subject as provided in clause 8.3.1, free and clear of any
deductions or withholdings, in Dollars (except for costs, fees and expenses
which shall be payable in the currency in which they are incurred) on the due
date to the account of the Agent with Calyon Americas New York (CRLYUS33) in
favour of Calyon Paris (SWIFT Code: BSUIFRPPXXX), account number 0100383000100,
under reference “DTB/FS AerVenture PDP”, or such other account as the Agent may upon
not less than five (5) Business Days’ written notice from time to time
notify to the Borrower. Save where this Agreement specifically provides for a
payment to be made for the account of a particular Lender, in which case the
Agent shall distribute the relevant payment to the Lender concerned, or where
such payment is made to the Agent or to the Security Trustee for its own
account, payments to be made by the Borrower under this Agreement shall be for
the account of all the Lenders and the Agent shall forthwith distribute such
payments in like funds as are received by the Agent to the Lenders rateably in
accordance with their respective Lender’s Proportions.

 

8.2       Non-Business
Days

 

Whenever any amount hereunder shall become
due on a date which is not a Business Day, the due date therefor shall be the next
succeeding Business Day unless such day falls within the next calendar month,
in which case it shall be due and payable on the immediately preceding Business
Day and any amount of interest payable on such due date shall be adjusted.

 

8.3       Grossing-up
for Taxes

 

8.3.1     If at any time the Borrower is
required to make any deduction or withholding in respect of Taxes from any
payment due under this Agreement for the account of a Finance Party, the sum
due from the Borrower in respect of such payment shall be increased to the
extent necessary to ensure that, after the making of such deduction or
withholding, the relevant Finance Party receives on the due date for such
payment (and retains, free from any liability in respect of such deduction or
withholding) a net sum equal to the sum which it would have received had no
such deduction or withholding been required to be made and the Borrower shall
indemnify the relevant Finance Party against all losses, costs and expenses
incurred by it by reason of any failure of the Borrower to make any such
deduction or withholding or by reason of any increased payment not being made
on the due date for such payment. The Borrower shall promptly deliver to the
relevant Finance Party any receipts, certificates or other proof evidencing the
amounts (if any) paid or payable in respect of any such deduction or
withholding.

 

8.3.2     If the Borrower makes a payment
under clause 8.3.1 and the relevant Finance Party determines that it has received
or been granted a credit against or relief or remission for, or repayment of,
any Tax paid or payable by it in respect of or which takes account of the
deduction, withholding or other matter giving rise to such payment by the
Borrower, the relevant Finance Party shall, to the extent it determines that it
can do so without prejudice to the retention of the amount of such credit,
relief, remission or repayment, pay to the Borrower such amount as the relevant
Finance Party shall have determined to be attributable to such deduction or
withholding or other matter and which shall leave the relevant Finance Party
(after such payment), in an after-Tax position which it determines to be no
better or worse than it would have been in if the Borrower had not been required
to make such deduction or withholding or such other matter had not arisen. Nothing
herein contained shall:

 

17

 

(a)     interfere with the right of the
relevant Finance Party to arrange its Tax or other affairs in whatever manner
it thinks fit;

 

(b)    oblige the relevant Finance Party
to disclose any information relating to its Tax or other affairs or any
computations in respect thereof;

 

(c)     require the relevant Finance
Party to do anything that it determines would or may prejudice its ability
to benefit from any other credit, relief, remission or repayment to which it may be
entitled; or

 

(d)    require the relevant Finance Party
to give any priority as to the order in which it claims credits, relief,
remissions and repayments or in which it allocates to any person or liability
or class of persons or liabilities any credit, relief, remission or
repayment.

 

8.3.3     If the relevant Finance Party
makes any payment to the Borrower pursuant to clause 8.3.2 and such payment is
subsequently reviewed by internal auditors to that Finance Party, acting in
good faith and as experts, that the credit, relief, remission or repayment in
respect of which such payment was made was not available or has been withdrawn
or that it is unable to use such credit, relief, remission or repayment in
full, the Borrower shall reimburse the relevant Finance Party such amount as
the relevant Finance Party determines, in its sole opinion, is necessary to
place it in the same after-Tax position as it would have been in if such
credit, relief, remission or repayment had been obtained and fully used and
retained by the relevant Finance Party.

 

8.4       General
Tax indemnity

 

The Borrower shall indemnify the relevant Finance
Party against the actual amount of all Taxes (other than Excluded Taxes)
imposed or asserted by any Government Entity or other competent authority
against the relevant Finance Party with respect to: (a) the facility
hereunder granted to the Borrower, the Loan, any Advance or the transactions
contemplated by the Relevant Documents (or any of them) or (b) the
Aircraft or the purchase, ownership or delivery thereof or (c) the
Borrower engaging in business in, having or having had an office, branch or
permanent establishment in, or being or having been a citizen or resident of,
or domiciled in, or incorporated or created in or under the Applicable Laws of,
the jurisdiction imposing such Taxes.

 

8.5       Partial
payments

 

If, on any date on which a payment is due
to be made by the Borrower under this Agreement, the amount received from the
Borrower falls short of the total amount of the payment due to be made by the
Borrower on such date then, without prejudice to any rights or remedies
available to the relevant Finance Party under this Agreement, the relevant
Finance Party shall apply the amount actually received from the Borrower, or
from the exercise of its rights and powers under the Relevant Documents at any
time thereafter, in or towards discharge of the obligations of the Borrower
under this Agreement and the other Relevant Documents in such order as
circumscribed by the Trust Agreement, notwithstanding any appropriation made,
or purported to be made, by the Borrower.

 

8.6       Calculations

 

All interest and other payments of an
annual nature under this Agreement shall accrue from day to day and be
calculated on the basis of actual days elapsed and a 360 day year. In
calculating the actual number of days elapsed in a period which is one of a series of
consecutive periods with no interval between them or a period on the last day
of which any payment falls to be made in respect of such period, the first day
of such period shall be included but the last day excluded.

 

8.7       Certificates
conclusive

 

Any certificate or determination of the
Lenders as to any rate of interest or any amount payable 

 

18

 

under this Agreement shall, in the absence
of manifest error, be conclusive and binding, as to the amount from time to
time owing by the Borrower under this Agreement.

 

8.8    Excluded
Taxes

 

The provisions of clauses 7.2, 7.3, 8.3 and 8.4 shall
not apply, and the Borrower shall have no liability to any Indemnitee in
respect of, any Tax or any increased payment which is an Excluded Tax.

 

9        Representations and warranties

 

9.1        The Borrower represents and
warrants to the Finance Parties that:

 

9.1.1           Due incorporation

 

the Borrower is duly incorporated and
validly existing under the laws of Ireland as a limited liability company and
has power to carry on its business as it is now being conducted and as
contemplated by the Relevant Documents and to own its property and other
assets;

 

9.1.2           Corporate power to borrow

 

the Borrower has power to execute, deliver
and perform its obligations under the Relevant Documents to which it is a
party and to borrow the Commitment; all necessary corporate, shareholder and
other action has been taken to authorise the execution, delivery and
performance of the same and no limitation on the powers of the Borrower to
borrow shall be exceeded as a result of borrowings under this Agreement;

 

9.1.3           Binding obligations

 

this Agreement and the other Relevant
Documents constitute valid and legally binding obligations of the Borrower
enforceable in accordance with their respective terms except as the same may be
limited by applicable principles of equity, bankruptcy, insolvency, moratorium
or other similar laws affecting creditors’ rights generally and subject to the
qualifications set out in the legal opinions to be provided to the Finance
Parties in accordance with this Agreement;

 

9.1.4           Pari passu status

 

the obligations of the Borrower under this
Agreement and the other Relevant Documents to which it is a party are direct,
general and unconditional obligations of the Borrower and rank at least pari
passu with all other present and future unsecured and unsubordinated
obligations (including contingent obligations) of the Borrower, with the
exception of any such obligations which are mandatorily preferred by law and
not by contract;

 

9.1.5           No conflict with other
obligations

 

the execution and delivery of, the
borrowing of the Commitment under, the performance of its obligations under,
and compliance with the provisions of, the Relevant Documents to which the
Borrower is a party by the Borrower shall not (i) contravene any existing
Applicable Law or any judgement, decree or permit to which the Borrower is
subject, (ii) conflict with, or result in any breach of any of the terms
of, or constitute a default under, any agreement or other instrument to which
the Borrower is a party or is subject or by which it or any of its property is
bound, (iii) contravene or conflict with any provision of the Borrower’s
constitutional documents or (iv) result in the creation or imposition of
or oblige the Borrower to create any Lien on any of the Borrower’s undertaking,
assets, rights or revenues except to the extent provided for in the Relevant
Documents;

 

19

 

9.1.6           Consents obtained

 

every consent, authorisation, licence or
approval of, or registration with or declaration to, any Government Entity
required by the Borrower to authorise, or required by the Borrower in
connection with, the execution, delivery, validity, enforceability, priority or
admissibility in evidence of this Agreement and the other Relevant Documents to
which the Borrower is a party or the performance by the Borrower of its
obligations under this Agreement and the other Relevant Documents to which the
Borrower is a party has been obtained or made and is in full force and effect
and there has been no default in the observance of the conditions or
restrictions (if any) imposed in, or in connection with, any of the same;

 

9.1.7           No filings required

 

Save for the Engine Assignments and the
Purchase Agreement Assignment in respect of each of which particulars thereof
must be filed with the Irish Registrar of Companies in accordance with section 99
of the Irish Companies Act 1963 (as amended) within twenty one days after the
creation of the security thereunder, it is not necessary to ensure the
legality, validity, enforceability, priority or admissibility in evidence of
this Agreement or any other Relevant Document (or any of them) that it or any
other instrument be notarised, filed, recorded, registered or enrolled in any
court, public office or elsewhere under any Applicable Law or that any stamp,
registration or similar tax or charge be paid under any Applicable Law on or in
relation to this Agreement or any other Relevant Document (or any of them) and
this Agreement and the other Relevant Documents are in proper form for
their enforcement in the English courts (or, if any such action is necessary,
it has taken such action);

 

9.1.8           No litigation

 

no litigation, arbitration or
administrative proceeding is taking place, pending or, to the knowledge of the
officers of the Borrower, threatened against the Borrower that could reasonably
be expected to have a material adverse effect on the ability of the Borrower to
perform its obligations under the Relevant Documents to which it is a
party;

 

9.1.9           No defaults

 

the Borrower is not (nor would with the
giving of notice or lapse of time or the satisfaction of any other condition or
any combination thereof be) in breach of or in default under any agreement
relating to Financial Indebtedness to which it is a party or by which it may be
bound and no other Default has occurred and is continuing;

 

9.1.10         Financial statements correct
and complete

 

the opening accounts and financial
statements of the Borrower have been prepared in accordance with generally
accepted accounting principles and practices in Ireland which have been
consistently applied and present fairly and accurately the financial position
of the Borrower as at such date and the results of the operations of the
Borrower for the financial year ended on such date and, as at such date, the
Borrower did not have any significant actual liabilities or any losses which
are not disclosed by, or reserved against or provided for in, such financial
statements;

 

9.1.11         No material adverse change

 

there has been no material adverse change
in the financial position of the Borrower from that set forth in the financial
statements referred to in clause 9.1.10;

 

9.1.12         Choice of law

 

the choice by the Borrower of English law
to govern this Agreement and the other Relevant Documents to which it is a
party other than the CFM Engine Assignment and of New York law to govern the CFM
Engine Assignment and the submissions to jurisdiction by the Borrower as
provided herein and therein are valid and binding;

 

20

 

9.1.13         No immunity

 

the
Borrower, under applicable law, is subject to private commercial law and suit,
and neither the Borrower nor its properties or assets have any right of
immunity from suit or execution on the grounds of sovereignty in its state of
incorporation or any other jurisdiction or on any other grounds.

 

9.1.14         No withholding Taxes

 

no Taxes are imposed by withholding or
otherwise on any payment to be made by the Borrower under this Agreement or any
other Relevant Document (or any of them) and no Taxes are imposed on or by
virtue of the execution or delivery by the Borrower of this Agreement or any
other Relevant Document to which it is a party (or any of them) or any document
or instrument to be executed or delivered thereunder; and

 

9.1.15         Compliance with consents and
licences

 

every consent, authorisation, licence or
approval required by the Borrower in connection with the conduct of its
business and the ownership, use, exploitation or occupation of its property and
assets has been obtained and is in full force and effect and there has been no
default in the observance of the conditions and restrictions (if any) imposed
in, or in connection with, any of the same which would or may have an adverse
effect on the ability of the Borrower to perform its obligations under the
Relevant Documents.

 

9.2        Each Lender represents and
warrants that:

 

9.2.1

 

(a)     it is and will continue to be
(for so long as it is entitled to receive any payment from the Borrower under
this Agreement) a body corporate which is resident for the purpose of tax in a
Member State of the European Union (other than the Republic of Ireland) or any
jurisdiction which has a double tax treaty with the Republic of Ireland; and

 

(b)    interest under this Agreement is
not and will not be paid to it in connection with a trade or business which is
carried on by it in the Republic of Ireland through a branch or agency in the
Republic of Ireland; or

 

9.2.2           it is and will continue to
be (for so long as it is entitled to receive any payment from the Borrower
under this Agreement) a bank carrying on a bona fide banking business in the
Republic of Ireland within the meaning of Section 246 of the Irish Taxes
Consolidation Act 1997.

 

10        Undertakings

 

10.1      The Borrower undertakes with
each Finance Party that, from the date of this Agreement and so long as any
moneys are owing under this Agreement or remain available for drawing by the
Borrower, it shall:

 

10.1.1         Notice of Default

 

promptly
upon becoming aware of the same inform the Agent of any occurrence which
might adversely affect its ability to perform its obligations under this
Agreement and the other Relevant Documents to which it is a party and of any
Default or Purchase Agreement Default and, if so requested in writing by the
Agent from time to time, confirm to the Agent in writing that, save as
otherwise stated in such confirmation, no Default or Purchase Agreement Default
has occurred and is continuing;

 

10.1.2         Consents and licences

 

without prejudice to clauses 3 and 9.1, obtain or
cause to be obtained, maintain in full force and effect and comply in all
material respects with the conditions and restrictions (if any) imposed in, or
in connection with, every consent, authorisation, licence or approval of, or 

 

21

 

registration
with or declaration to, any Government Entity with which it is required to
comply in connection with the execution, delivery, validity, enforceability,
priority and admissibility in evidence of this Agreement and the other Relevant
Documents and the performance of its obligations thereunder and do, or cause to
be done, all other acts and things which may from time to time be
necessary or desirable under Applicable Law for the continued due performance
of all its obligations under this Agreement;

 

10.1.3         Use of proceeds

 

use the proceeds of drawings under this
Agreement exclusively for the purpose specified in clause 1.1;

 

10.1.4         Pari passu

 

ensure that its obligations under this Agreement
shall, without prejudice to the provisions of clause 6.3.4 of the Purchase
Agreement Assignment, at all times rank at least pari passu with all its other
present and future Financial Indebtedness (save and only to the extent that
such Financial Indebtedness is secured) with the exception of any obligations
which are mandatorily preferred by law and not by contract;

 

10.1.5         Financial statements

 

deliver or cause to be delivered to the
Security Trustee as soon as reasonably practicable        after the
same are available:

 

(a)     and in any event within one
hundred and eighty (180) days after the end of the Borrower’s financial year, a
copy of the Borrower’s audited unconsolidated financial accounts for the
relevant financial year;

 

(b)    and in any event within one
hundred and eighty (180) days after the end of AerCap Holdings’ financial year,
a copy of AerCap Holdings’ audited consolidated financial accounts for the
relevant financial year;

 

(c)     and in any event within ten (10) months
after the end of AerCap Ireland’s financial year, a copy of AerCap Ireland’s
unaudited consolidated financial accounts for the relevant year;

 

(d)    and in any event within forty five
(45) days after the end of each quarterly accounting period of the Borrower and
AerCap Holdings, a copy of the Borrower’s and AerCap Holdings’ unaudited
consolidated management accounts for the relevant quarterly period,

 

provided that the Borrower shall have no obligation
pursuant to this clause 10.1.5 to the extent that such accounts are published
on the AerCap website, within the applicable time periods specified above,

 

in each
case, prepared in accordance with US, Dutch or Irish GAAP;

 

10.1.6         Delivery of reports

 

deliver to the Agent, in each case at the
time of issue thereof, every report, circular, notice or like document issued
by the Borrower to its principal creditors generally;

 

10.1.7         Provision of further
information

 

provide the Agent with such financial and
other information concerning the Borrower, the shareholders in the Borrower and
their respective affairs, and such information concerning the Aircraft and the
Purchase Agreement, as the Agent may from time to time reasonably request
in the context of the Relevant Documents and the transactions contemplated
thereby;

 

22

 

10.1.8         Compliance with Applicable
Laws

 

comply with the terms and conditions of all Applicable
Laws which are relevant to the carrying on of its business and the performance
of its obligations under the Relevant Documents;

 

10.1.9         Filings and Further Assurance

 

take such action and execute such additional
documentation at its own cost and expense as is reasonably required by the
Agent to ensure the legality, validity, enforceability and admissibility in
evidence of any of this Agreement or any other Relevant Document to which it is
a party or perfect any or all security interests granted to any Finance Party pursuant
to a Relevant Document or any other instrument related thereto including
without limitation in circumstances where any of the same require to be
notarised, filed, recorded, registered or enrolled in any court, public office
or elsewhere under any Applicable Law or where any stamp, registration or
similar tax or charge is required to be paid under any Applicable Law on or in
relation thereto;

 

10.1.10       Corporate existence

 

maintain its
existence as a limited liability company existing under the laws of Ireland and
inform the Agent immediately and furnish it with all necessary evidence of
any change in its legal form, type and qualification to transact business as a
legal entity and of any material change in its business activities or in the
legal and corporate documents regulating its activities;

 

10.1.11       Buyer Furnished Equipment and
Modification

 

pay in full, on or prior to the Scheduled Delivery
Date for each Aircraft, for:

 

(a)     all buyer furnished equipment
installed or to be installed on that Aircraft prior to the Delivery Date; and

 

(b)    the cost of any modification to
that Aircraft which it may undertake or request the Manufacturer or any
other person to undertake prior to the Delivery Date; and

 

10.1.12       No dividends

 

not, and shall ensure that no member of the Borrower
Group shall, declare, make or pay any dividend, charge, fee or other
distribution (or interest on any unpaid dividend, charge, fee or other
distribution) (whether in cash or in kind) on or in respect of its share
capital (or any class of its share capital).

 

11        Equity Contribution

 

11.1      Details of the Equity
Contribution payable by the Borrower in respect of each Aircraft are set out in
column 4 of schedule 4.

 

11.2      To the extent that the Net
Aircraft Price in respect of any Aircraft is higher than the Net Aircraft Price
Maximum, the Equity Contribution for each Aircraft shall be increased
accordingly and the Borrower shall procure that each of AerCap Ireland, LoadAir
and/or the other shareholders in the Borrower at such time shall fund the
Borrower with cash amounts which will enable it to pay such increased Equity
Contribution to the Manufacturer, or, at the Security Trustee’s sole
discretion, shall provide other additional security satisfactory to the Finance
Parties.

 

11.3      In the event of any increase
being made to the Equity Contribution pursuant to this clause 11, each of the
Borrower, the Agent and the Security Trustee shall agree a substitute version
of schedule 4 which, when agreed in writing between the Borrower, the
Agent and the Security Trustee shall be conclusive and binding on the parties
to this Agreement and shall replace the existing schedule 4 for the
purposes of this Agreement and the other Relevant Documents.

 

23

 

12        Negative Pledge

 

12.1     No Pledging
of Shares

 

The Borrower hereby undertakes with each of
the Finance Parties that it will procure that neither AerCap Ireland, LoadAir
nor any other shareholder of the Borrower from time to time shall create any
Lien over their respective shareholdings in the Borrower in favour of any other
financing party as security for finance provided by such financing party to the
Borrower unless such security interest is created for the joint benefit of the
Finance Parties and such other financing party pursuant to arrangements whereby
the entire issued share capital of the Borrower is charged in favour of a security
trustee for the benefit of the Lenders and such other financing party, or,
pursuant to arrangements which are otherwise acceptable to the Finance Parties.

 

12.2    No Floating
Charge

 

The Borrower shall not, without the prior
written consent of the Security Trustee, create a floating charge (howsoever
described) over all, or substantially all, of its assets in favour of any
financing party or other third party creditor other than the Finance Parties.

 

12.3      To the extent that the Borrower,
from time to time, wishes to raise third party financing in connection with the
acquisition of any Aircraft, the Borrower agrees that such financing shall be
raised through a dedicated special purpose vehicle company. Notwithstanding the
prohibition contained in clause 12.2, the Lenders acknowledge that a floating
charge may be created by any such special purpose vehicle company for the
benefit of its financiers.

 

13      [Intentionally omitted]

 

14      Financial Covenants

 

14.1      In this clause 14, the following
terms have the following meanings:

 

“Cash” means
freely available cash (for the avoidance of doubt, excluding restricted cash)
held by the Borrower Group, determined in accordance with generally accepted
accounting principles consistently applied;

 

“Cash Out” means
the amount of Cash (including SG&A expenses (but excluding, for the
avoidance of doubt, any “hedging costs” i.e. any net swap interest or cap
premia) and any facilitation fee) disbursed by the Borrower Group from time to
time;

 

“Debt” means the
amount of Financial Indebtedness held by the Borrower Group from time to time;

 

“Net Gearing Ratio”
means Debt less Cash divided by Net Worth; and

 

“Net Worth”
means the excess of the total assets (excluding goodwill, intangible assets and
revaluation of fixed assets) over total liabilities of the Borrower Group, each
determined in accordance with generally accepted accounting principles
consistently applied;

 

14.2     The Borrower hereby undertakes
with each of the Finance Parties that, in respect of each of the calendar years
specified in the table below:

 

14.2.1      the Net Worth shall be at least equal to the figure specified for
such calendar year;

 

14.2.2      the Cash Out shall be no greater than the amount specified for such
calendar year; and

 

14.2.3      the Net Gearing Ratio shall be no greater than the figure specified
for such calendar year.

 

24

 

	
   

  	
   

  	
  2006

  	
   

  	
  2007

  	
   

  	
  2008

  	
   

  	
  2009

  	
   

  
	
  Net Worth ($million)

  	
   

  	
  35

  	
   

  	
  45

  	
   

  	
  80

  	
   

  	
  100

  	
   

  
	
  Cash Out ($million)

  	
   

  	
  5

  	
   

  	
  5

  	
   

  	
  6

  	
   

  	
  10

  	
   

  
	
  Net Gearing Ratio

  	
   

  	
  0.5

  	
   

  	
  3.5

  	
   

  	
  5

  	
   

  	
  8

  	
   

  

 

14.3      Each of the financial covenants
specified in clause 14.2 above (the “Financial Covenants”) shall be
tested on each Quarterly Date when the Borrower will be required to evidence
compliance with each such covenant to the satisfaction of the Security Trustee
including, without limitation, by reference to a Compliance Certificate. If so
requested by the Security Trustee at any time, because the Security Trustee
and/or any other Finance Party has reasonable grounds to believe that the
contents of any Compliance Certificate may not be true and correct, the
Borrower shall procure that its auditors confirm in writing to the Security
Trustee that the contents of that Compliance Certificate are true and correct.

 

14.4    Adjustment
of Financial Covenants

 

14.4.1      The Financial Covenants have been calculated on the basis that each
Aircraft:

 

(a)     is of the Aircraft Type; and

 

(b)     shall be delivered during the
Scheduled Delivery Month,

 

in each case as set out in schedule 4 as at the date of this
Agreement.

 

14.4.2      In the event that the Borrower exercises a Conversion Right in
accordance with clause 2.3, or the Delivery Date for an Aircraft is deferred in
accordance with clause 6.2, provided that at such time no Event of Default or
Mandatory Prepayment Event has occurred and is continuing, the Borrower may, by
notice in writing to the Security Trustee (a “Variation Notice”), request the Lenders
to adjust the Financial Covenants. The Variation Notice shall set out the
proposed adjusted Financial Covenants, taking into account the exercise of the
Conversion Right or deferral of Delivery Date, but otherwise using the same
methodology as was used to calculate the Financial Covenants on or prior to the
date of this Agreement.

 

14.4.3      The Lenders shall consider any such request pursuant to clause
14.4.2 in good faith and shall inform the Borrower within fifteen (15)
Business Days from the date of receipt of a Variation Notice as to whether the
proposed adjusted Financial Covenants have been approved. In the event that the
proposed adjusted Financial Covenants have not been approved, the Lenders agree
to consult with the Borrower in good faith for a further period of fifteen (15)
Business Days with a view to agreeing alternative adjusted Financial Covenants
acceptable to the Lenders.

 

14.4.4      In the event that the Lenders agree to amend the Financial Covenants
pursuant to clause 14.4.3, the Borrower and the Security Trustee shall execute
such documents as may be necessary to amend clause 14.2 accordingly. Each
Finance Party hereby irrevocably authorises the Security Trustee to execute any
such amendment on its behalf.

 

In this clause 14.4, “Aircraft Type” means an Airbus A319-100 aircraft or Airbus
A320-200 aircraft, as applicable.

 

15        Events of Default and Termination

 

15.1     Events of
Default

 

Each of the events and circumstances set out below is
an Event of Default:

 

25

 

15.1.1      the Borrower fails to make any
payment of (a) any scheduled payment in the currency and in the manner
stipulated in this Agreement or any other Relevant Document within (five) 5 Business
Days of the due date therefor or (b) any other amount due by it under this
Agreement or any other Relevant Document within ten (10) Business Days of
the due date thereof; or

 

15.1.2      without prejudice to clause 15.1.1
above, the Borrower fails to observe or perform any other covenants,
conditions, obligations, undertakings, provision or agreements contained in
this Agreement or any other Relevant Document, including, for the avoidance of
doubt, those contained in clauses 11 to 14 of this Agreement, and such default,
if capable of remedy, is not remedied within fifteen (15) Business Days of
notice from the Security Trustee to the Borrower requiring such remedy; or

 

15.1.3      if any representation or
warranty made or deemed to be made or repeated by or on behalf of the Borrower
in this Agreement or any other Relevant Document or in any document or
certificate furnished by the Borrower in connection herewith or therewith shall
prove to have been false or incorrect in any material respect on the date it
was made or deemed to be made or repeated and, if it is possible to remedy the
situation which caused such representation or warranty to be false or
incorrect, it is not remedied within fifteen (15) Business Days after notice by
the Security Trustee to the Borrower requiring the situation to be remedied
that it has been remedied to the Security Trustee’s satisfaction; or

 

15.1.4      the Borrower shall consent to
the appointment of a receiver, administrator, administrative receiver, trustee,
liquidator or examiner of itself or of a substantial part of its property
or shall admit in writing its inability to pay its debts generally as they fall
due or shall cease or declare its inability to carry on its business; or

 

15.1.5      the Borrower shall issue a
notice convening a meeting of its creditors or make any arrangement or
composition with, or any assignment for the benefit of, its creditors or any
moratorium or rescheduling affecting all or a substantial part of the
Financial Indebtedness of the Borrower is declared or imposed, or the Borrower
shall issue a notice or otherwise convene a meeting for the purpose of
considering a resolution, or a petition is presented or other steps, action or
proceedings are taken by the Borrower, for the winding up, bankruptcy,
liquidation, dissolution, administration, reorganisation, amalgamation or
insolvency of the Borrower or for an administration order in respect of the
Borrower; or

 

15.1.6      a petition is presented or other
steps, action or proceedings are taken by any person (other than the Borrower)
for the winding up, bankruptcy, liquidation, dissolution, administration,
reorganisation, amalgamation or insolvency of the Borrower or for an
administration order in respect of the Borrower other than a petition, steps,
action or proceedings which the Borrower proves to the satisfaction of the
Security Trustee has been presented, made or taken by such other person only
for frivolous or vexatious reasons and which is discharged or stayed within
thirty (30) days of the presentation or commencement thereof; or

 

15.1.7      an order, judgment or decree
shall be entered by any court, tribunal or authority of competent jurisdiction
for the winding up, bankruptcy, liquidation, dissolution, administration,
reorganisation or amalgamation of the Borrower or appointing, without the
consent of the Borrower (as appropriate), a receiver, administrator,
administrative receiver, trustee, liquidator or examiner of the Borrower or of
any substantial part of the Borrower’s (as appropriate) property, or
sequestering any substantial part of the property of the Borrower; or

 

15.1.8      the Borrower is declared
insolvent or bankrupt or is liquidated, wound up, dissolved, reorganised or
amalgamated by any court, tribunal or authority of competent jurisdiction other
than for the purposes of a solvent reconstruction or amalgamation, the terms of
which have received the prior written consent of the Security Trustee (such
consent not to be unreasonably withheld or delayed); or

 

15.1.9      the Borrower suspends or ceases
or makes a public announcement to suspend or cease to carry on its business; or

 

26

 

15.1.10    any event analogous to any of the
events specified in clauses 15.1.4, 15.1.5, 15.1.6, 15.1.7, 15.1.8 or 15.1.9
occurs in any jurisdiction to which the Borrower (as appropriate) is subject;
or

 

15.1.11    any
Financial Indebtedness of the Borrower in excess of (i) one million Dollars
($1,000,000) (or the equivalent thereof in any other currency), in respect of
the period up to Delivery of the first Aircraft or (ii) three million five
hundred thousand Dollars ($3,500,000) (or the equivalent thereof in any other
currency,) in respect of the period thereafter, is not paid when due after the
expiry of any originally applicable grace periods or becomes due and payable
prior to the date when it would otherwise have become due; or

 

15.1.12    the
validity or enforceability of any of the Relevant Documents shall at any time and
for any reason be contested by the Borrower or the Borrower shall otherwise
repudiate any of the Relevant Documents or do or cause or permit to be done any
act or thing evidencing an intention to repudiate any of the Relevant
Documents; or

 

15.1.13    a creditor attaches or takes
possession of, or a distress, execution, sequestration or other process is
levied or enforced upon or sued out against, any material part of the
undertakings, assets, rights or revenues of the Borrower and is not discharged
within any period of time provided in the relevant judgment or if no such
period is provided for, fourteen (14) days; or

 

15.1.14    the Borrower transfers or disposes
of all or a substantial part of its assets, whether by one or a series of
transactions, related or not, other than (i) any transfer or disposal of
an Aircraft (or groups of Aircraft) to a special purpose company (or companies)
where such transfer or disposal is made in order to enable the Borrower to
raise long-term financing for the acquisition cost of such Aircraft, (ii) any
pledging of the shares in the Borrower in the manner contemplated by clause
12.1 or (iii) any transfer or disposal of an Aircraft upon or following
the repayment in full of the Advance in respect of such Aircraft; or

 

15.1.15    the Security Trustee or Agent
receives written notice from (a) the Manufacturer that a Purchase
Agreement Default has occurred and is continuing under the Purchase Agreement
or (b) an Engine Manufacturer that an Engine Agreement Default has
occurred and is continuing under an Engine Agreement.

 

15.2  Declaration of
Default; Automatic Acceleration

 

Following the occurrence of an Event of
Default which is continuing, the Agent may, and if so requested by the
Instructing Group shall, without prejudice to any other rights of the Lenders hereunder,
by written notice to the Borrower declare that:

 

15.2.1      the Lenders’ obligation to make
available the Commitment shall be terminated whereupon the Lenders shall each
be discharged from their respective obligations to make further Advances;
and/or

 

15.2.2      the Loan and all interest
accrued and all other sums payable under this Agreement shall become due and
payable either forthwith or on any date specified in such notice, whereupon the
same shall immediately, or in accordance with terms of such notice, became so
due and payable,

 

PROVIDED ALWAYS THAT upon the occurrence of any of the
Events of Default specified in clauses 15.1.1(a), 15.1.4, 15.1.5, 15.1.6,
15.1.7, 15.1.8, 15.1.9 and 15.1.10 the Lenders’ commitment shall terminate
automatically upon the occurrence of such Event of Default, the Lenders shall
immediately be discharged from their respective obligations to make any further
Advances and the Loan and all interest accrued thereon shall upon the
occurrence of any such Events of Default become immediately due and payable.

 

On or at any time after the making of such
declaration, or upon the occurrence of any of the specific Events of Default
specified in the above proviso, the Agent shall be entitled to, to the
exclusion of the Borrower (and without prejudice to clause 5.3), select the
duration of Interest Periods.

 

27

 

16     Indemnities

 

16.1  Miscellaneous
indemnities

 

The
Borrower shall on demand indemnify each Finance Party, without prejudice to any
of their other rights under this Agreement and the other Relevant Documents,
against any loss (including loss of Margin), cost or expense which each Finance
Party shall certify as sustained or incurred by it as a consequence of:

 

16.1.1      any default in payment by the
Borrower of any sum under this Agreement or any other Relevant Document when
due (including, for the avoidance of doubt, any losses, costs or expenses which
the relevant Finance Party may incur by reason of the exercise by the
relevant Finance Party of its rights under the Relevant Documents consequent
upon the occurrence of such default); and

 

16.1.2      the occurrence of any other Event
of Default (including, for the avoidance of doubt, any losses, costs or
expenses which the Lender may incur by reason of the exercise by the
Lender of its rights under the Relevant Documents consequent upon the
occurrence of such Event of Default),

 

including,
in any such case, but not limited to, any Break Funding Losses or any other
amount owing to the relevant Finance Party but excluding any loss in respect of
which it has been indemnified pursuant to any other provision of the Relevant
Documents and any cost, loss or expense sustained or incurred by the Finance
Party in connection with any sale of the Aircraft and/or any sale or transfer
of the rights assigned to the relevant Finance Party under or pursuant to the
Purchase Agreement Assignment in each case following the occurrence of an Event
of Default, and as evidenced to the Borrower in writing by the relevant Finance
Party. In the event that any Finance Party realises a Break Funding Gain, such Finance
Party shall pay a sum equal to such Break Funding Gain to the Borrower promptly
upon realisation thereof.

 

16.2  Currency of
account; currency indemnity

 

16.2.1   No payment by the Borrower under this Agreement or any other
Relevant Document which is made in a currency other than the currency (the “Contractual Currency”) in which such payment is required to
be made pursuant to this Agreement or such other Relevant Document shall
discharge the obligation in respect of which it is made except to the extent of
the net proceeds in the Contractual Currency received by a Finance Party upon
the sale of the currency so received, after taking into account any premium and
costs of exchange in connection with such sale. For the avoidance of doubt a
Finance Party shall not be obliged to accept any such payment in a currency
other than the Contractual Currency nor shall a Finance Party be liable to the
Borrower for any loss or alleged loss arising from fluctuations in exchange
rates between the date on which such payment is so received by the Finance
Party and the date on which a Finance Party effects such sale, as to which a
Finance Party shall (as against the Borrower) have an absolute discretion.

 

16.2.2   If any sum due from the Borrower
under this Agreement or any other Relevant Document or any order or judgement
given or made in relation hereto or thereto is required to be converted from
the Contractual Currency or the currency in which the same is payable under
such order or judgement (the “first currency”)
into another currency (the “second currency”)
for the purpose of (a) making or filing a claim or proof against the
Borrower, (b) obtaining an order or judgement in any court or other
tribunal or (c) enforcing any order or judgement given or made in relation
to this Agreement or any other Relevant Document, the Borrower shall indemnify
and hold harmless each Finance Party from and against any loss suffered as a
result of any difference between (i) the rate of exchange used for such
purpose to convert the sum in question from the first currency into the second
currency and (ii) the rate or rates of exchange at which a Finance Party may in
the ordinary course of business purchase the first currency with the second
currency upon receipt of a sum paid to it in satisfaction, in whole or in part,
of any such order, judgement, claim or proof.

 

28

 

16.2.3   Any amount due from the Borrower
under the indemnity contained in this clause 16.2 shall be due as a
separate debt and shall not be affected by judgement being obtained for any
other sums due under or in respect of this Agreement or any other Relevant
Document and the term “rate of exchange”
includes any premium and costs of exchange payable in connection with the
purchase of the first currency with the second currency.

 

16.3  Funding indemnity

 

The
Borrower expressly acknowledges that the Lenders may, from time to time, enter
into funding arrangements and incur certain Financial Indebtedness for the
purposes of facilitating the transactions contemplated by this Agreement and
that all such arrangements may be terminated in the event that the
Borrower fails to draw down an Advance after a Drawdown Notice has been given
in respect thereof or any Advance or any part thereof is repaid or prepaid
otherwise than on an Interest Payment Date for that Advance. Accordingly, the
Borrower agrees that in the case of:

 

(a)     any repayment or prepayment of
all or part of any Advance being made otherwise than on an Interest
Payment Date for that Advance; and

 

(b)    any Advance not being made for any
reason after a Drawdown Notice has been given in respect thereof,

 

the
Borrower shall indemnify, and hereby agrees to indemnify, the Lenders and each
of them fully against the amount of any Break Funding Costs incurred by any
Lender as a result thereof. In the event that any Lender realises a Break
Funding Gain, such Lender shall pay a sum equal to such Break Funding Gain to
the Borrower promptly following realisation thereof.

 

17        Illegality; increased costs; mitigation

 

17.1      Illegality

 

If, at any time as a consequence of a Change in Law:

 

17.1.1   it is or shall become unlawful,
illegal, prohibited or contrary to any Applicable Law for any party to this
Agreement or any of the other Relevant Documents to participate, or continue to
participate in the transactions contemplated by this Agreement or the other
Relevant Documents or to perform a material obligation under and/or give
any required consent pursuant to this Agreement or any other Relevant Document
or to continue as a party to this Agreement or any other Relevant Document;

 

17.1.2   all or any part of this
Agreement or any other Relevant Document (other than the Purchase Agreement
Assignment or an Engine Assignment) is or becomes void, illegal, invalid or
unenforceable or of limited force and effect under any Applicable Law and the
same would or might reasonably be expected to result in the rights, title and
interests of the Finance Parties and the Borrower (or any of them) in and to
the Aircraft and/or under any Relevant Document being materially adversely
affected, based on advice received by the Security Trustee and shared with the
Borrower from reputable legal counsel in the relevant jurisdictions; or

 

17.1.3   all or any part of the
Purchase Agreement Assignment or an Engine Assignment is or becomes void,
illegal, invalid or unenforceable or of limited force and effect under any
Applicable Law,

 

then,
without prejudice to the Borrower’s obligations and the rights of the Finance
Parties in relation to the Aircraft and under the Relevant Documents, the
affected party shall serve notice of such event on the other parties hereto and
clause 17.4 shall apply and not later than the earlier of (a) the end
of the consultation period referred to in clause 17.4 and (b) the date on
which such Change in Law takes effect:

 

29

 

(a)        the obligations of the Lenders
to advance the Loan shall be terminated and all Commitments shall be reduced to
zero; and

 

(b)        the Borrower shall prepay the
Loan together with all other amounts then due and owing under this Agreement
and the other Transaction Documents.

 

17.2     Increased costs

 

If the result of any Change in Law or
Capital Adequacy Requirement is to:

 

17.2.1      increase the cost to, or impose an additional cost on, any Lender in
maintaining its obligations under this Agreement, in each case, other than in
respect of Taxes; and/or

 

17.2.2      reduce the amount payable or the effective return to any Lender
under this Agreement, other than as a result of any Tax payable by such Lender,

 

then, and in
each such case:

 

(a)     such Lender shall notify the
Borrower through the Agent in writing of such event promptly upon its becoming
aware of the same but in any case within three (3) months after the date
on which the Lender first became aware of the circumstances giving rise to the
Tax, increased cost, additional cost, reduction, payment or forgone return; and

 

(b)     the Borrower shall on demand pay
to the Agent for the account of such Lender the amount (which shall not include
Taxes) which such Lender specifies (in a certificate setting forth the basis of
the computation of such amount but not including any matters which such Lender
regards as confidential in relation to its funding arrangements) is required to
compensate such Lender for such increased cost, additional cost, reduction,
payment or forgone return.

 

17.3     Exclusions

 

The following are excluded from the
Borrower’s agreement to indemnify any particular Lender under clause 17.2:

 

17.3.1      any Loss which relates to any loss of anticipated profit or return
(including loss of Margin or margin);

 

17.3.2      any Loss which comprises the normal administrative costs and
expenses of any Lender (but excluding any such expenses caused directly by, or
incurred after, the occurrence of an Event of Default); or

 

17.3.3      any Loss which arises from an act or omission which constitutes
gross negligence or wilful default by such Lender.

 

PROVIDED
FURTHER THAT a Lender shall not be entitled
to make any claim to be indemnified for any Loss pursuant to clause 17.2
to the extent that it is actually compensated therefor by any party in
accordance with any other provision of the Relevant Documents.

 

17.4     Mitigation

 

If circumstances arise which would, or
would upon the giving of notice, result in:

 

17.4.1      the Borrower being required to make an increased payment to a Lender
pursuant to clause 8.3.1;

 

17.4.2      the reduction of a Lender’s Commitment to zero or the Borrower being
required to prepay the Loan pursuant to clause 17.1; or

 

30

 

17.4.3      the Borrower being required to make a payment to a Lender to
compensate a Lender for a liability to Taxes, increased or additional cost,
reduction, payment, forgone return or loss pursuant to clause 17.2,

 

then, without in any way limiting, reducing
or otherwise qualifying the obligations of the Borrower under clause 8 and
this clause 17, the Lenders and the Borrower, each acting in good faith,
shall consult for a maximum period of thirty (30) days with a view to
identifying what (if any) reasonable steps are open to them to mitigate or
remove such circumstances, provided however that a Lender shall not be obliged
to take any such steps if to do so might (in the opinion of that Lender) be
prejudicial to itself or be in conflict with its’ general banking policies or
involve it in expense or an increased administrative burden unless it is indemnified
to its satisfaction by the Borrower for such expenses or the costs associated
with such increased administrative burden. All costs and expenses reasonably
incurred by the Finance Parties in connection with such consultation process
and any resultant mitigating action shall be for the account of the Borrower.

 

18        Assignment, transfer and lending offices

 

18.1     Benefit
and burden

 

This
Agreement shall be binding upon, and enure for the benefit of, each Finance
Party and their respective successors.

 

18.2     Assignment,
transfer and lending offices

 

None of
the parties to this Agreement may assign or transfer all or any of its
rights and obligations hereunder, and no Lender may change its lending
office for the purpose hereof, other than pursuant to and in accordance with
clause 13 of the Trust Deed.

 

19        Notices and other matters

 

19.1     Notices

 

Every
notice, request, demand or other communication under this Agreement or any
other Relevant Document shall:

 

19.1.1      be in writing delivered personally or by first-class prepaid
letter (airmail if available) or by fax;

 

19.1.2      be deemed to have been received, subject as otherwise provided in
this Agreement or any other Relevant Document, in the case of a letter when
delivered and, in the case of a fax, when transmission of a complete copy is
confirmed by the sender through receipt of a facsimile confirmation showing the
correct number of pages having been sent received by the addressee (unless
the date of despatch is not a business day in the country of the addressee or
the time of despatch of any fax is after the close of business in the country
of the addressee in which case it shall be deemed to have been received at the
opening of business on the next such business day); and

 

19.1.3      be sent:

 

	
  (a)

  	
  to the
  Borrower at:

  
	
   

  	
   

  
	
   

  	
  AerVenture Limited

  
	
   

  	
  c/o AerCap Ireland Limited

  
	
   

  	
  AerCap House

  
	
   

  	
  Shannon Industrial Estate

  
	
   

  	
  Shannon

  
	
   

  	
  County Clare

  
	
   

  	
  Ireland

  
	
   

  	
  Fax:
          + 353 61723850

  
	
   

  	
  Attention: Company Secretary

  

 

31

 

	
   

  	
  with a copy to:

  
	
   

  	
   

  
	
   

  	
  AerCap B.V.

  
	
   

  	
  Evert van de Beekstraat 312

  
	
   

  	
  1118 CX Schiphol

  
	
   

  	
  The Netherlands

  
	
   

  	
   

  
	
   

  	
  Fax:  +31 20 655 9100

  
	
   

  	
  Attn: Group Treasurer

  
	
   

  	
   

  
	
  (b)

  	
  to the Agent
  and Security Trustee at:

  
	
   

  	
   

  
	
   

  	
  Calyon

  
	
   

  	
  9 Quai du Président Paul Doumer

  
	
   

  	
  92920 Paris La Défense Cedex

  
	
   

  	
  France

  
	
   

  	
   

  
	
   

  	
  Facsimile: (+33) 1 41 89 91 96
  and (+33) 1 41 89 85 75

  
	
   

  	
  Attention: Head of Transportation Group
  and DFS / MO

  
	
   

  	
   

  
	
  (c)

  	
  to each Lender at its address or telefax
  number specified in schedule 1 or in any relevant Substitution
  Certificate,

  

 

or to such other address or fax number as
is notified by one party to the other parties to this Agreement or any other
Relevant Document. Without prejudice to the validity of any notice given
pursuant to this clause 19.1, the recipient of any fax notice shall confirm
receipt of a legible version of such notice as soon as practicable after such
receipt.

 

19.2  Notices through the Agent

 

Every notice, request, demand or other
communication under this Agreement to be given by the Borrower to any other
party shall be given to the Agent for onward transmission as appropriate and to
be given to the Borrower shall (except as otherwise provided in this Agreement)
be given by the Agent.

 

19.3     No implied
waivers, remedies cumulative

 

No failure or delay on the part of a Finance
Party to exercise any power, right or remedy under this Agreement or any other
Relevant Document shall operate as a waiver thereof, nor shall any single or
partial exercise by a Finance Party of any power, right or remedy preclude any
other or further exercise thereof or the exercise of any other power, right or
remedy. The remedies provided in this Agreement and the other Relevant
Documents are cumulative and are not exclusive of any remedies provided by law.

 

19.4     English
translations

 

All certificates, instruments and other
documents to be delivered under or supplied in connection with this Agreement
and the other Relevant Documents shall be in the English language or shall be
accompanied by a certified English translation upon which the Finance Parties
shall be entitled to rely.

 

19.5     Severability

 

If at any time any provision of this
Agreement or any of the other Relevant Documents is or becomes illegal invalid
or unenforceable in any respect under the law of any jurisdiction neither the legality,
validity or enforceability of the remaining provisions hereof nor the legality,
validity 

 

32

 

or enforceability of such provision under
the law of any other jurisdiction shall in any way be affected or impaired
thereby.

 

19.6     Counterparts

 

This Agreement and the other Relevant
Documents may be executed in any number of counterparts and by the
different parties on separate counterparts, each of which when so executed and
delivered shall be an original, but all counterparts shall together constitute
one and the same instrument.

 

19.7     Third
parties

 

Any person who is not a party to this
Agreement and the other Relevant Documents shall have no right under the
Contracts (Rights of Third Parties) Act 1999 to enforce its terms. Subject to
any provision of any Relevant Document to the contrary, the consent of any
person who is not a party to this Agreement shall not be required to any
amendment, variation (including, without limitation, any release or compromise
of any liability) or termination of this Agreement or any other Relevant
Document.

 

20        Governing law

 

This Agreement is governed by and shall be
construed in accordance with English law.

 

21        Jurisdiction

 

21.1      For the benefit of the Finance
Parties, the parties hereto irrevocably agree that any legal action or
proceedings in connection with this Agreement may be brought in the
English courts, which shall have non-exclusive jurisdiction to settle any
disputes arising in connection with this Agreement. The parties hereto hereby
irrevocably and unconditionally submit to the non-exclusive jurisdiction of the
English courts. The submission to such jurisdiction shall not (and shall not be
construed so as to) limit the rights of any Finance Party to take proceedings
against any other party in any other court of competent jurisdiction, nor shall
the taking of proceedings in any one or more jurisdictions preclude the taking
of proceedings in any other jurisdiction, whether concurrently or not. The
Borrower irrevocably waives any objection it may now or hereafter have to
the laying of venue of any action or proceeding in any court and any loss it may now
or hereafter have that any action or proceeding has been brought in an
inconvenient forum.

 

21.2      For the benefit of the Finance
Parties, the Borrower hereby irrevocably and unconditionally waives: (a) any
immunity from the jurisdiction of the court mentioned in clause 21.1 and any
immunity from suit, judgment, execution, set-off, attachment, arrest, specific
performance, injunction or other judicial order or remedy to which it or any of
its assets may be entitled at present or in the future in any jurisdiction
in respect of any legal action or proceedings with respect to or in connection
with this Agreement; and (b) any objections to such jurisdiction on the
ground of venue or forum non conveniens
or any similar grounds.

 

21.3      The Borrower hereby irrevocably
designates, appoints and empowers Freshfields Bruckhaus Deringer whose current
address is at 65 Fleet Street, London EC4Y 1HS, England (Ref: DMP
Litigation/RFM) to receive for it and on its behalf service of process issued
out of the English courts in any legal action or proceedings arising out of or
in connection with this Agreement. If the agent referred to above ceases so to
act, or ceases to have a place of business in England, the Borrower shall
forthwith notify the Finance Parties thereof and appoint another person
resident in England reasonably acceptable to the Finance Parties to act as its
agent for service of process under this Agreement.

 

IN WITNESS whereof the parties to this Agreement have caused this Agreement to
be duly executed as a deed and delivered on the date first above written.

 

33

 

Schedule 1

 

The Lenders

 

	
  Name

  	
   

  	
  Address
  and fax number

  	
   

  	
  Lender’s
  Proportion

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  CALYON S.A.

  	
   

  	
  9, quai du President
  Paul Doumer

  	
   

  	
  100%

  
	
   

  	
   

  	
  92920 Paris La Défense

  	
   

  	
   

  
	
   

  	
   

  	
  France

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Facsimile: (+33) 1 41
  89 91 96

  	
   

  	
   

  
	
   

  	
   

  	
  and (+33) 1 41 89 85 75

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Attention: Head of Transportation Group
  and DFS / MO

  	
   

  	
   

  

 

34

 

Schedule 2

 

Form of
Drawdown Notice

 

To:      [Agent]

 

[Date]

 

Facility Agreement relating to
Pre-Delivery Payments in respect of up to 12 A319-100 and 18 A320-200 Aircraft
dated [•] November 2006
(the “Agreement”)

 

We refer to the above Agreement and hereby
give you notice that we wish to draw down an Advance of $[ ] on [   ].

 

[[Note: for all Advances
other than the two Advances to be made in respect of Aircraft 1 and the aggregate
Advance to be made in respect of Aircraft 2-5] [The funds are to
be credited on [•] to the
account of the Manufacturer with Calyon, account no. [               ].

 

[Note: for the two Advances
which are to be made in respect of Aircraft 1 and the aggregate Advance to be
made in respect of Aircraft 2-5] The funds are to be credited on
[•] to the account of
AerVenture n° [. ].

 

We confirm that:

 

(a)        such
Advance is made in respect of Aircraft No [  
] and is being paid in relation to [[Note:
for all Advances other than the two Advances to be made in respect of Aircraft
1 and the aggregate Advance to be made in respect of Aircraft 2-5] the partial funding of the Pre-Delivery Payment] in respect
of such Aircraft] [Note: for the two Advances which are to be
made in respect of Aircraft 1 and the aggregate Advance to be made in respect
of Aircraft 2-5]  as reimbursement of
the Pre-Delivery Payment payment[s] paid by the Borrower to the Manufacturer in
respect of [Aircraft 1] [Aircraft 2 to 5]];

 

(b)        no event
or circumstance has occurred and is continuing which constitutes either a
Default or a Purchase Agreement Default;

 

(c)        the
representations and warranties contained in clause 9.1 of the Agreement (other
than the representations and warranties contained in clauses 9.1.8 and 9.1.11,
and so that the representation and warranty in clause 9.1.10 shall for
this purpose refer to the then latest audited financial statements delivered to
the Agent under clause 10.1) are, and will on the Drawdown Date for the
Aircraft be, true and correct as if made with respect to the facts and
circumstances now and then existing;

 

(d)        the
borrowing to be effected by such Advance is within our corporate powers, has
been validly authorised by appropriate corporate action and shall not cause any
limit on our borrowings (whether imposed by statute, regulation, agreement or
otherwise) to be exceeded; and

 

(e)        [the
Equity Contribution of $ [•] in relation to the Aircraft has been paid by us to the
Manufacturer].

 

Words and expressions defined in the
Agreement shall have the same meanings where used in this notice.

 

35

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  For and on
  behalf of

  	
   

  
	
   

  	
  AERVENTURE
  LIMITED

  	
   

  

 

 

36

 

Schedule 3

 

Documents
and evidence required as conditions precedent

 

1           a
copy, certified as a true, complete and up-to-date copy by a Director or
Secretary of the Borrower, of the constitutive documents of the Borrower;

 

2           a
copy, certified as a true copy by a Director or Secretary of the Borrower, of
resolutions of the Board of Directors of the Borrower evidencing the Borrower’s
approval of this Agreement and the other Relevant Documents to which the
Borrower is a party and authorising its appropriate officers to execute and
deliver this Agreement and the other Relevant Documents to which the Borrower
is a party and to give all notices and take all other action required by the
Borrower under this Agreement and the other Relevant Documents together with a
certified copy of any power of attorney issued pursuant to such resolutions;

 

3           specimen
signatures, authenticated by a Director or the Secretary of the Borrower, of
the persons authorised in the resolutions of the Board of Directors referred to
in paragraph 2 above;

 

4           copies,
certified as a true copies by a Director or the Secretary of the Borrower, of
all consents, authorisations, licences and approvals (if any) required by the
Borrower to authorise, or required by the Borrower in connection with, the
execution, delivery, validity, enforceability and admissibility in evidence of
this Agreement and the performance by the Borrower of its obligations under
this Agreement and the other Relevant Documents;

 

5           each
of the Relevant Documents duly executed by each of the parties thereto;

 

6           a
copy, certified as a true copy by a duly authorised officer of the Borrower of
the Borrower’s opening accounts evidencing that the Borrower has a minimum of
fifty million Dollars ($50,000,000) in cash equity;

 

7           a
copy, certified by the Borrower and the Manufacturer or the relevant Engine
Manufacturer (as applicable) to be true, complete and up-to-date, of:

 

(a)        those
provisions of the Purchase Agreement which are assigned to the Security Trustee
pursuant to the Purchase Agreement Assignment; and

 

(b)        those
provisions of the Engine Agreements which are assigned to the Security Trustee
pursuant to the Engine Assignments;

 

8           written
confirmation from each of the Manufacturer and the Borrower that no Purchase
Agreement Default has occurred and that the Purchase Agreement remains in full
force and effect;

 

9           legal
opinions, each in form and substance satisfactory to the Lenders from:

 

(a)        McCann
Fitzgerald, in respect of matters of Irish law;

 

(b)        Norton
Rose, in respect of matters of English and French law;

 

(c)        Freshfields
Bruckhaus Deringer, New York, in respect of matters of New York law; and

 

(d)        in-house
counsel to the Manufacturer and each Engine Manufacturer;

 

10         receipt
by the Finance Parties of each of the fees, costs and expenses due by the
Borrower to the Finance Parties pursuant to each of the Fee Letters; and

 

11         no
Default shall have occurred; and

 

37

 

12         duly
executed letters of appointment from each of the Borrower and AerCap Ireland in
respect of, in the case of the Borrower, the appointment by the Borrower of its
agent of service of process pursuant to clause 21.3 of this Agreement, and in
the case of AerCap Ireland, the agent for service of process appointed by
AerCap Ireland pursuant to the Ownership Letter Agreement.

 

38

 

Schedule 4

Financial Schedules

 

 

	
  Aircraft

  Type

  	
   

  	
  Aircraft

  number

  	
   

  	
  Scheduled

  Delivery Month

  	
   

  	
  Due date of

  PDP

  	
   

  	
  Equity

  contribution

  	
   

  	
  Advance

  Amount

  	
   

  	
  PDP amount

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A319-100

  	
   

  	
  1

  	
   

  	
  November-07

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A319-100

  	
   

  	
  1

  	
   

  	
  November-07

  	
   

  	
  1-May-2006

  	
   

  	
  $

  	
  66 441,46

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  66 441,46

  	
   

  
	
  A319-100

  	
   

  	
  1

  	
   

  	
  November-07

  	
   

  	
  1-Aug-2006

  	
   

  	
  $

  	
  2 666 650,60

  	
   

  	
  $

  	
  165 556,72

  	
   

  	
  $

  	
  2 832 207,32

  	
   

  
	
  A319-100

  	
   

  	
  1

  	
   

  	
  November-07

  	
   

  	
  01-nov-06

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  2 832 207,32

  	
   

  	
  $

  	
  2 832 207,32

  	
   

  
	
  A319-100

  	
   

  	
  1

  	
   

  	
  November-07

  	
   

  	
  1-Feb-2007

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  849 662,19

  	
   

  	
  $

  	
  849 662,19

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  1 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  3 233
  092,06

  	
   

  	
  $

  	
  3 847
  426,23

  	
   

  	
  $

  	
  7 080
  518,29

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A319-100

  	
   

  	
  2

  	
   

  	
  December-07

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A319-100

  	
   

  	
  2

  	
   

  	
  December-07

  	
   

  	
  01-juin-06

  	
   

  	
  $

  	
  66 441,46

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  66 441,46

  	
   

  
	
  A319-100

  	
   

  	
  2

  	
   

  	
  December-07

  	
   

  	
  01-sept-06

  	
   

  	
  $

  	
  2 666 650,60

  	
   

  	
  $

  	
  165 556,72

  	
   

  	
  $

  	
  2 832 207,32

  	
   

  
	
  A319-100

  	
   

  	
  2

  	
   

  	
  December-07

  	
   

  	
  1-Dec-2006

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  2 832 207,32

  	
   

  	
  $

  	
  2 832 207,32

  	
   

  
	
  A319-100

  	
   

  	
  2

  	
   

  	
  December-07

  	
   

  	
  01-mars-07

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  849 662,19

  	
   

  	
  $

  	
  849 662,19

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  3 233
  092,06

  	
   

  	
  $

  	
  3 847
  426,23

  	
   

  	
  $

  	
  7 080
  518,29

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  3

  	
   

  	
  January-08

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  3

  	
   

  	
  January-08

  	
   

  	
  03-juil-06

  	
   

  	
  $

  	
  157 970,35

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  157 970,35

  	
   

  
	
  A320-200

  	
   

  	
  3

  	
   

  	
  January-08

  	
   

  	
  02-oct-06

  	
   

  	
  $

  	
  2 320 471,01

  	
   

  	
  $

  	
  969 380,73

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  
	
  A320-200

  	
   

  	
  3

  	
   

  	
  January-08

  	
   

  	
  01-janv-07

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  
	
  A320-200

  	
   

  	
  3

  	
   

  	
  January-08

  	
   

  	
  2-Apr-2007

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  986 955,52

  	
   

  	
  $

  	
  986 955,52

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  3 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  2 978
  441,35

  	
   

  	
  $

  	
  5 246
  188,00

  	
   

  	
  $

  	
  8 224
  629,35

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  4

  	
   

  	
  February-08

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  4

  	
   

  	
  February-08

  	
   

  	
  1-Aug-2006

  	
   

  	
  $

  	
  157 970,35

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  157 970,35

  	
   

  
	
  A320-200

  	
   

  	
  4

  	
   

  	
  February-08

  	
   

  	
  01-nov-06

  	
   

  	
  $

  	
  2 320 471,01

  	
   

  	
  $

  	
  969 380,73

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  
	
  A320-200

  	
   

  	
  4

  	
   

  	
  February-08

  	
   

  	
  1-Feb-2007

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  
	
  A320-200

  	
   

  	
  4

  	
   

  	
  February-08

  	
   

  	
  1-May-2007

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  986 955,52

  	
   

  	
  $

  	
  986 955,52

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  4 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  2 978
  441,35

  	
   

  	
  $

  	
  5 246
  188,00

  	
   

  	
  $

  	
  8 224
  629,35

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A319-100

  	
   

  	
  5

  	
   

  	
  February-08

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A319-100

  	
   

  	
  5

  	
   

  	
  February-08

  	
   

  	
  1-Aug-2006

  	
   

  	
  $

  	
  79 928,16

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  79 928,16

  	
   

  
	
  A319-100

  	
   

  	
  5

  	
   

  	
  February-08

  	
   

  	
  01-nov-06

  	
   

  	
  $

  	
  2 703 739,03

  	
   

  	
  $

  	
  195 901,80

  	
   

  	
  $

  	
  2 899 640,82

  	
   

  
	
  A319-100

  	
   

  	
  5

  	
   

  	
  February-08

  	
   

  	
  1-Feb-2007

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  2 899 640,82

  	
   

  	
  $

  	
  2 899 640,82

  	
   

  
	
  A319-100

  	
   

  	
  5

  	
   

  	
  February-08

  	
   

  	
  1-May-2007

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  869 892,25

  	
   

  	
  $

  	
  869 892,25

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  3 283
  667,19

  	
   

  	
  $

  	
  3 965
  434,86

  	
   

  	
  $

  	
  7 249
  102,06

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

39

 

	
  A319-100

  	
   

  	
  6

  	
   

  	
  June-08

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A319-100

  	
   

  	
  6

  	
   

  	
  June-08

  	
   

  	
  1-Dec-2006

  	
   

  	
  $

  	
  79 928,16

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  79 928,16

  	
   

  
	
  A319-100

  	
   

  	
  6

  	
   

  	
  June-08

  	
   

  	
  01-mars-07

  	
   

  	
  $

  	
  2 703 739,03

  	
   

  	
  $

  	
  195 901,80

  	
   

  	
  $

  	
  2 899 640,82

  	
   

  
	
  A319-100

  	
   

  	
  6

  	
   

  	
  June-08

  	
   

  	
  01-juin-07

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  2 899 640,82

  	
   

  	
  $

  	
  2 899 640,82

  	
   

  
	
  A319-100

  	
   

  	
  6

  	
   

  	
  June-08

  	
   

  	
  03-sept-07

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  869 892,25

  	
   

  	
  $

  	
  869 892,25

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  6 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  3 283
  667,19

  	
   

  	
  $

  	
  3 965
  434,86

  	
   

  	
  $

  	
  7 249
  102,06

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  7

  	
   

  	
  July-08

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  7

  	
   

  	
  July-08

  	
   

  	
  01-janv-07

  	
   

  	
  $

  	
  157 970,35

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  157 970,35

  	
   

  
	
  A320-200

  	
   

  	
  7

  	
   

  	
  July-08

  	
   

  	
  2-Apr-2007

  	
   

  	
  $

  	
  2 320 471,01

  	
   

  	
  $

  	
  969 380,73

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  
	
  A320-200

  	
   

  	
  7

  	
   

  	
  July-08

  	
   

  	
  02-juil-07

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  
	
  A320-200

  	
   

  	
  7

  	
   

  	
  July-08

  	
   

  	
  01-oct-07

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  986 955,52

  	
   

  	
  $

  	
  986 955,52

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  7 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  2 978
  441,35

  	
   

  	
  $

  	
  5 246
  188,00

  	
   

  	
  $

  	
  8 224
  629,35

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  8

  	
   

  	
  August-08

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  8

  	
   

  	
  August-08

  	
   

  	
  1-Feb-2007

  	
   

  	
  $

  	
  157 970,35

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  157 970,35

  	
   

  
	
  A320-200

  	
   

  	
  8

  	
   

  	
  August-08

  	
   

  	
  1-May-2007

  	
   

  	
  $

  	
  2 793 645,01

  	
   

  	
  $

  	
  496 206,73

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  
	
  A320-200

  	
   

  	
  8

  	
   

  	
  August-08

  	
   

  	
  1-Aug-2007

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  
	
  A320-200

  	
   

  	
  8

  	
   

  	
  August-08

  	
   

  	
  01-nov-07

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  986 955,52

  	
   

  	
  $

  	
  986 955,52

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  8 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  3 451
  615,35

  	
   

  	
  $

  	
  4 773
  014,00

  	
   

  	
  $

  	
  8 224
  629,35

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A319-100

  	
   

  	
  9

  	
   

  	
  September-08

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A319-100

  	
   

  	
  9

  	
   

  	
  September-08

  	
   

  	
  01-mars-07

  	
   

  	
  $

  	
  79 928,16

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  79 928,16

  	
   

  
	
  A319-100

  	
   

  	
  9

  	
   

  	
  September-08

  	
   

  	
  01-juin-07

  	
   

  	
  $

  	
  2 703 739,03

  	
   

  	
  $

  	
  195 901,80

  	
   

  	
  $

  	
  2 899 640,82

  	
   

  
	
  A319-100

  	
   

  	
  9

  	
   

  	
  September-08

  	
   

  	
  03-sept-07

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  2 899 640,82

  	
   

  	
  $

  	
  2 899 640,82

  	
   

  
	
  A319-100

  	
   

  	
  9

  	
   

  	
  September-08

  	
   

  	
  3-Dec-2007

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  869 892,25

  	
   

  	
  $

  	
  869 892,25

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  9 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  3 283
  667,19

  	
   

  	
  $

  	
  3 965
  434,86

  	
   

  	
  $

  	
  7 249
  102,06

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A319-100

  	
   

  	
  10

  	
   

  	
  November-08

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A319-100

  	
   

  	
  10

  	
   

  	
  November-08

  	
   

  	
  1-May-2007

  	
   

  	
  $

  	
  79 928,16

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  79 928,16

  	
   

  
	
  A319-100

  	
   

  	
  10

  	
   

  	
  November-08

  	
   

  	
  1-Aug-2007

  	
   

  	
  $

  	
  2 466 141,03

  	
   

  	
  $

  	
  433 499,80

  	
   

  	
  $

  	
  2 899 640,82

  	
   

  
	
  A319-100

  	
   

  	
  10

  	
   

  	
  November-08

  	
   

  	
  01-nov-07

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  2 899 640,82

  	
   

  	
  $

  	
  2 899 640,82

  	
   

  
	
  A319-100

  	
   

  	
  10

  	
   

  	
  November-08

  	
   

  	
  1-Feb-2008

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  869 892,25

  	
   

  	
  $

  	
  869 892,25

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  10 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  3 046
  069,19

  	
   

  	
  $

  	
  4 203
  032,86

  	
   

  	
  $

  	
  7 249
  102,06

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  11

  	
   

  	
  November-08

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  11

  	
   

  	
  November-08

  	
   

  	
  1-May-2007

  	
   

  	
  $

  	
  157 970,35

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  157 970,35

  	
   

  
	
  A320-200

  	
   

  	
  11

  	
   

  	
  November-08

  	
   

  	
  1-Aug-2007

  	
   

  	
  $

  	
  2 793 645,01

  	
   

  	
  $

  	
  496 206,73

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  
	
  A320-200

  	
   

  	
  11

  	
   

  	
  November-08

  	
   

  	
  01-nov-07

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  
	
  A320-200

  	
   

  	
  11

  	
   

  	
  November-08

  	
   

  	
  1-Feb-2008

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  986 955,52

  	
   

  	
  $

  	
  986 955,52

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  11 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  3 451
  615,35

  	
   

  	
  $

  	
  4 773
  014,00

  	
   

  	
  $

  	
  8 224
  629,35

  	
   

  

 

40

 

	
  A320-200

  	
   

  	
  12

  	
   

  	
  December-08

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  12

  	
   

  	
  December-08

  	
   

  	
  01-juin-07

  	
   

  	
  $

  	
  157 970,35

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  157 970,35

  	
   

  
	
  A320-200

  	
   

  	
  12

  	
   

  	
  December-08

  	
   

  	
  03-sept-07

  	
   

  	
  $

  	
  2 320 471,01

  	
   

  	
  $

  	
  969 380,73

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  
	
  A320-200

  	
   

  	
  12

  	
   

  	
  December-08

  	
   

  	
  3-Dec-2007

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  	
  $

  	
  3 289 851,74

  	
   

  
	
  A320-200

  	
   

  	
  12

  	
   

  	
  December-08

  	
   

  	
  03-mars-08

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  986 955,52

  	
   

  	
  $

  	
  986 955,52

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  12 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  2 978
  441,35

  	
   

  	
  $

  	
  5 246
  188,00

  	
   

  	
  $

  	
  8 224
  629,35

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A319-100

  	
   

  	
  13

  	
   

  	
  February-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A319-100

  	
   

  	
  13

  	
   

  	
  February-09

  	
   

  	
  1-Aug-2007

  	
   

  	
  $

  	
  93 414,87

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  93 414,87

  	
   

  
	
  A319-100

  	
   

  	
  13

  	
   

  	
  February-09

  	
   

  	
  01-nov-07

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  
	
  A319-100

  	
   

  	
  13

  	
   

  	
  February-09

  	
   

  	
  1-Feb-2008

  	
   

  	
  $

  	
  1 108 936,58

  	
   

  	
  $

  	
  1 858 137,76

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  
	
  A319-100

  	
   

  	
  13

  	
   

  	
  February-09

  	
   

  	
  1-May-2008

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  890 122,30

  	
   

  	
  $

  	
  890 122,30

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  13 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  4 669
  425,77

  	
   

  	
  $

  	
  2 748
  260,05

  	
   

  	
  $

  	
  7 417
  685,83

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  14

  	
   

  	
  January-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  14

  	
   

  	
  January-09

  	
   

  	
  02-juil-07

  	
   

  	
  $

  	
  173 271,98

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  173 271,98

  	
   

  
	
  A320-200

  	
   

  	
  14

  	
   

  	
  January-09

  	
   

  	
  01-oct-07

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  14

  	
   

  	
  January-09

  	
   

  	
  01-janv-08

  	
   

  	
  $

  	
  984 226,55

  	
   

  	
  $

  	
  2 382 133,37

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  14

  	
   

  	
  January-09

  	
   

  	
  1-Apr-2008

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  14 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  5 023
  858,45

  	
   

  	
  $

  	
  3 392
  041,35

  	
   

  	
  $

  	
  8 415
  899,80

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  15

  	
   

  	
  February-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  15

  	
   

  	
  February-09

  	
   

  	
  1-Aug-2007

  	
   

  	
  $

  	
  173 271,98

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  173 271,98

  	
   

  
	
  A320-200

  	
   

  	
  15

  	
   

  	
  February-09

  	
   

  	
  01-nov-07

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  15

  	
   

  	
  February-09

  	
   

  	
  1-Feb-2008

  	
   

  	
  $

  	
  984 226,55

  	
   

  	
  $

  	
  2 382 133,37

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  15

  	
   

  	
  February-09

  	
   

  	
  1-May-2008

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  15 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  5 023
  858,45

  	
   

  	
  $

  	
  3 392
  041,35

  	
   

  	
  $

  	
  8 415
  899,80

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A319-100

  	
   

  	
  16

  	
   

  	
  March-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A319-100

  	
   

  	
  16

  	
   

  	
  March-09

  	
   

  	
  03-sept-07

  	
   

  	
  $

  	
  93 414,87

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  93 414,87

  	
   

  
	
  A319-100

  	
   

  	
  16

  	
   

  	
  March-09

  	
   

  	
  3-Dec-2007

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  
	
  A319-100

  	
   

  	
  16

  	
   

  	
  March-09

  	
   

  	
  03-mars-08

  	
   

  	
  $

  	
  1 108 936,58

  	
   

  	
  $

  	
  1 858 137,76

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  
	
  A319-100

  	
   

  	
  16

  	
   

  	
  March-09

  	
   

  	
  02-juin-08

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  890 122,30

  	
   

  	
  $

  	
  890 122,30

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  16 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  4 669
  425,77

  	
   

  	
  $

  	
  2 748
  260,05

  	
   

  	
  $

  	
  7 417
  685,83

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  17

  	
   

  	
  February-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  17

  	
   

  	
  February-09

  	
   

  	
  1-Aug-2007

  	
   

  	
  $

  	
  173 271,98

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  173 271,98

  	
   

  
	
  A320-200

  	
   

  	
  17

  	
   

  	
  February-09

  	
   

  	
  01-nov-07

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  17

  	
   

  	
  February-09

  	
   

  	
  1-Feb-2008

  	
   

  	
  $

  	
  511 052,55

  	
   

  	
  $

  	
  2 855 307,37

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  17

  	
   

  	
  February-09

  	
   

  	
  1-May-2008

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  17 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  4 550
  684,45

  	
   

  	
  $

  	
  3 865
  215,35

  	
   

  	
  $

  	
  8 415
  899,80

  	
   

  

 

41

 

	
  A320-200

  	
   

  	
  18

  	
   

  	
  March-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  18

  	
   

  	
  March-09

  	
   

  	
  03-sept-07

  	
   

  	
  $

  	
  173 271,98

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  173 271,98

  	
   

  
	
  A320-200

  	
   

  	
  18

  	
   

  	
  March-09

  	
   

  	
  3-Dec-2007

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  18

  	
   

  	
  March-09

  	
   

  	
  03-mars-08

  	
   

  	
  $

  	
  984 226,55

  	
   

  	
  $

  	
  2 382 133,37

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  18

  	
   

  	
  March-09

  	
   

  	
  02-juin-08

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  18 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  5 023
  858,45

  	
   

  	
  $

  	
  3 392
  041,35

  	
   

  	
  $

  	
  8 415
  899,80

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  19

  	
   

  	
  March-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  19

  	
   

  	
  March-09

  	
   

  	
  03-sept-07

  	
   

  	
  $

  	
  173 271,98

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  173 271,98

  	
   

  
	
  A320-200

  	
   

  	
  19

  	
   

  	
  March-09

  	
   

  	
  3-Dec-2007

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  19

  	
   

  	
  March-09

  	
   

  	
  03-mars-08

  	
   

  	
  $

  	
  984 226,55

  	
   

  	
  $

  	
  2 382 133,37

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  19

  	
   

  	
  March-09

  	
   

  	
  02-juin-08

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  19 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  5 023
  858,45

  	
   

  	
  $

  	
  3 392
  041,35

  	
   

  	
  $

  	
  8 415
  899,80

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A319-100

  	
   

  	
  20

  	
   

  	
  April-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A319-100

  	
   

  	
  20

  	
   

  	
  April-09

  	
   

  	
  01-oct-07

  	
   

  	
  $

  	
  93 414,87

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  93 414,87

  	
   

  
	
  A319-100

  	
   

  	
  20

  	
   

  	
  April-09

  	
   

  	
  01-janv-08

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  
	
  A319-100

  	
   

  	
  20

  	
   

  	
  April-09

  	
   

  	
  1-Apr-2008

  	
   

  	
  $

  	
  871 338,58

  	
   

  	
  $

  	
  2 095 735,75

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  
	
  A319-100

  	
   

  	
  20

  	
   

  	
  April-09

  	
   

  	
  01-juil-08

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  890 122,30

  	
   

  	
  $

  	
  890 122,30

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  20 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  4 431
  827,77

  	
   

  	
  $

  	
  2 985
  858,05

  	
   

  	
  $

  	
  7 417
  685,83

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  21

  	
   

  	
  April-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  21

  	
   

  	
  April-09

  	
   

  	
  01-oct-07

  	
   

  	
  $

  	
  173 271,98

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  173 271,98

  	
   

  
	
  A320-200

  	
   

  	
  21

  	
   

  	
  April-09

  	
   

  	
  01-janv-08

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  21

  	
   

  	
  April-09

  	
   

  	
  1-Apr-2008

  	
   

  	
  $

  	
  511 052,55

  	
   

  	
  $

  	
  2 855 307,37

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  21

  	
   

  	
  April-09

  	
   

  	
  01-juil-08

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  21 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  4 550
  684,45

  	
   

  	
  $

  	
  3 865
  215,35

  	
   

  	
  $

  	
  8 415
  899,80

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  22

  	
   

  	
  April-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  22

  	
   

  	
  April-09

  	
   

  	
  01-oct-07

  	
   

  	
  $

  	
  173 271,98

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  173 271,98

  	
   

  
	
  A320-200

  	
   

  	
  22

  	
   

  	
  April-09

  	
   

  	
  01-janv-08

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  22

  	
   

  	
  April-09

  	
   

  	
  1-Apr-2008

  	
   

  	
  $

  	
  984 226,55

  	
   

  	
  $

  	
  2 382 133,37

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  22

  	
   

  	
  April-09

  	
   

  	
  01-juil-08

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  22 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  5 023
  858,45

  	
   

  	
  $

  	
  3 392
  041,35

  	
   

  	
  $

  	
  8 415
  899,80

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  23

  	
   

  	
  May-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  23

  	
   

  	
  May-09

  	
   

  	
  01-nov-07

  	
   

  	
  $

  	
  173 271,98

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  173 271,98

  	
   

  
	
  A320-200

  	
   

  	
  23

  	
   

  	
  May-09

  	
   

  	
  1-Feb-2008

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  23

  	
   

  	
  May-09

  	
   

  	
  1-May-2008

  	
   

  	
  $

  	
  984 226,55

  	
   

  	
  $

  	
  2 382 133,37

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  23

  	
   

  	
  May-09

  	
   

  	
  1-Aug-2008

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  23 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  5 023
  858,45

  	
   

  	
  $

  	
  3 392
  041,35

  	
   

  	
  $

  	
  8 415
  899,80

  	
   

  

 

42

 

	
  A320-200

  	
   

  	
  24

  	
   

  	
  May-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  24

  	
   

  	
  May-09

  	
   

  	
  01-nov-07

  	
   

  	
  $

  	
  173 271,98

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  173 271,98

  	
   

  
	
  A320-200

  	
   

  	
  24

  	
   

  	
  May-09

  	
   

  	
  1-Feb-2008

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  24

  	
   

  	
  May-09

  	
   

  	
  1-May-2008

  	
   

  	
  $

  	
  511 052,55

  	
   

  	
  $

  	
  2 855 307,37

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  24

  	
   

  	
  May-09

  	
   

  	
  1-Aug-2008

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  24 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  4 550
  684,45

  	
   

  	
  $

  	
  3 865 215,35

  	
   

  	
  $

  	
  8 415 899,80

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  25

  	
   

  	
  June-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  25

  	
   

  	
  June-09

  	
   

  	
  3-Dec-2007

  	
   

  	
  $

  	
  173 271,98

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  173 271,98

  	
   

  
	
  A320-200

  	
   

  	
  25

  	
   

  	
  June-09

  	
   

  	
  03-mars-08

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  25

  	
   

  	
  June-09

  	
   

  	
  02-juin-08

  	
   

  	
  $

  	
  984 226,55

  	
   

  	
  $

  	
  2 382 133,37

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  25

  	
   

  	
  June-09

  	
   

  	
  01-sept-08

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  25 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  5 023
  858,45

  	
   

  	
  $

  	
  3 392 041,35

  	
   

  	
  $

  	
  8 415 899,80

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A319-100

  	
   

  	
  26

  	
   

  	
  September-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A319-100

  	
   

  	
  26

  	
   

  	
  September-09

  	
   

  	
  03-mars-08

  	
   

  	
  $

  	
  93 414,87

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  93 414,87

  	
   

  
	
  A319-100

  	
   

  	
  26

  	
   

  	
  September-09

  	
   

  	
  02-juin-08

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  
	
  A319-100

  	
   

  	
  26

  	
   

  	
  September-09

  	
   

  	
  01-sept-08

  	
   

  	
  $

  	
  1 108 936,58

  	
   

  	
  $

  	
  1 858 137,76

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  
	
  A319-100

  	
   

  	
  26

  	
   

  	
  September-09

  	
   

  	
  1-Dec-2008

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  890 122,30

  	
   

  	
  $

  	
  890 122,30

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  26 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  4 669
  425,77

  	
   

  	
  $

  	
  2 748 260,05

  	
   

  	
  $

  	
  7 417 685,83

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A319-100

  	
   

  	
  27

  	
   

  	
  September-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A319-100

  	
   

  	
  27

  	
   

  	
  September-09

  	
   

  	
  03-mars-08

  	
   

  	
  $

  	
  93 414,87

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  93 414,87

  	
   

  
	
  A319-100

  	
   

  	
  27

  	
   

  	
  September-09

  	
   

  	
  02-juin-08

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  
	
  A319-100

  	
   

  	
  27

  	
   

  	
  September-09

  	
   

  	
  01-sept-08

  	
   

  	
  $

  	
  1 108 936,58

  	
   

  	
  $

  	
  1 858 137,76

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  
	
  A319-100

  	
   

  	
  27

  	
   

  	
  September-09

  	
   

  	
  1-Dec-2008

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  890 122,30

  	
   

  	
  $

  	
  890 122,30

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  27 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  4 669
  425,77

  	
   

  	
  $

  	
  2 748 260,05

  	
   

  	
  $

  	
  7 417 685,83

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  28

  	
   

  	
  September-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  28

  	
   

  	
  September-09

  	
   

  	
  03-mars-08

  	
   

  	
  $

  	
  173 271,98

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  173 271,98

  	
   

  
	
  A320-200

  	
   

  	
  28

  	
   

  	
  September-09

  	
   

  	
  02-juin-08

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  28

  	
   

  	
  September-09

  	
   

  	
  01-sept-08

  	
   

  	
  $

  	
  984 226,55

  	
   

  	
  $

  	
  2 382 133,37

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  28

  	
   

  	
  September-09

  	
   

  	
  1-Dec-2008

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  28 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  5 023
  858,45

  	
   

  	
  $

  	
  3 392
  041,35

  	
   

  	
  $

  	
  8 415
  899,80

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A320-200

  	
   

  	
  29

  	
   

  	
  October-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A320-200

  	
   

  	
  29

  	
   

  	
  October-09

  	
   

  	
  1-Apr-2008

  	
   

  	
  $

  	
  173 271,98

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  173 271,98

  	
   

  
	
  A320-200

  	
   

  	
  29

  	
   

  	
  October-09

  	
   

  	
  01-juil-08

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  29

  	
   

  	
  October-09

  	
   

  	
  01-oct-08

  	
   

  	
  $

  	
  511 052,55

  	
   

  	
  $

  	
  2 855 307,37

  	
   

  	
  $

  	
  3 366 359,92

  	
   

  
	
  A320-200

  	
   

  	
  29

  	
   

  	
  October-09

  	
   

  	
  01-janv-09

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  	
  $

  	
  1 009 907,98

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  29 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  4 550
  684,45

  	
   

  	
  $

  	
  3 865
  215,35

  	
   

  	
  $

  	
  8 415
  899,80

  	
   

  

 

43

 

	
  A319-100

  	
   

  	
  30

  	
   

  	
  September-09

  	
   

  	
  30-Dec-2005

  	
   

  	
  $

  	
  500 000,00

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  500 000,00

  	
   

  
	
  A319-100

  	
   

  	
  30

  	
   

  	
  September-09

  	
   

  	
  03-mars-08

  	
   

  	
  $

  	
  93 414,87

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  93 414,87

  	
   

  
	
  A319-100

  	
   

  	
  30

  	
   

  	
  September-09

  	
   

  	
  02-juin-08

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  
	
  A319-100

  	
   

  	
  30

  	
   

  	
  September-09

  	
   

  	
  01-sept-08

  	
   

  	
  $

  	
  871 338,58

  	
   

  	
  $

  	
  2 095 735,75

  	
   

  	
  $

  	
  2 967 074,33

  	
   

  
	
  A319-100

  	
   

  	
  30

  	
   

  	
  September-09

  	
   

  	
  1-Dec-2008

  	
   

  	
  $

  	
  0,00

  	
   

  	
  $

  	
  890 122,30

  	
   

  	
  $

  	
  890 122,30

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  30 Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  4 431
  827,77

  	
   

  	
  $

  	
  2 985
  858,05

  	
   

  	
  $

  	
  7 417
  685,83

  	
   

  

 

44

 

FACILITY AGREEMENT SIGNATURE PAGE

 

	
  THE BORROWER

  
	
   

  
	
  SIGNED, SEALED and DELIVERED

  	
  )

  
	
  by 

  	
   

  	
   

  	
  )

  
	
  the duly authorised attorney

  	
  )

  
	
  for and on behalf of

  	
  )

  
	
  AERVENTURE LIMITED

  	
  )

  
	
   

  	
   

  
	
  In presence of:

  	
   

  
	
   

  	
   

  
	
  Witness Name: 

  	
   

  	
   

  	
  )

  
	
   

  	
  )

  
	
  Witness Signature: 

  	
   

  	
   

  	
  )

  
	
   

  	
   

  
	
   

  	
   

  
	
  THE LENDER

  	
   

  
	
   

  	
   

  
	
  SIGNED for and on behalf of

  	
  )

  
	
  CALYON S.A.

  	
  )

  
	
   

  	
   

  
	
  THE SECURITY TRUSTEE

  	
   

  
	
   

  	
   

  
	
  SIGNED for and on behalf of

  	
  )

  
	
  CALYON S.A.

  	
  )

  
	
   

  	
   

  
	
  THE AGENT

  	
   

  
	
   

  	
   

  
	
  SIGNED for and on behalf of

  	
  )

  
	
  CALYON S.A.

  	
  )

  
							

 

45Exhibit 10.1 Material Contract

                                                                                        Exhibit 10.1

                                 The St. Lawrence Seaway Corporation
                                           55 South Avenue
                                     Indianapolis, IN 46204-1774
                                           (317) 639-5292

November 13, 2006

Mr. Jack C. Brown 55 South State Avenue Indianapolis, IN 46204

Dear Jack:

In  consideration  of your continued  service as a director of St. Lawrence Seaway  Corporation,  an
Indiana corporation (the "Company"), the Company hereby contractually agrees to provide you with the
indemnification  rights  currently  provided by the Company to its  directors,  as  described in the
Company's  articles and bylaws,  which are  incorporated  herein by reference.  Notwithstanding  any
future  amendments to the Company's  articles and bylaws,  the Company  hereby agrees to continue to
provide you with such indemnification  rights so long as you serve as a director of the Company, and
after such service is completed,  for so long as you are exposed to potential liability by reason of
your service as a director of the Company.

The rights granted to you by the Company in this agreement  shall not be deemed  exclusive of, or in
limitation of, any rights to which you may be entitled under  applicable  law, the Company  articles
and bylaws, or otherwise.

If this letter confirms your understanding of our agreement, please execute the enclosed counterpart
of this letter and return the executed counterpart to Company counsel.

Very truly yours,
ST. LAWRENCE SEAWAY CORPORATION

By:/s/ Daniel L. Nir
   --------------------------------------------------
     Daniel L. Nir, Its President and Treasurer

Accepted and agreed to this 13th day of November, 2006
                            ----        --------------

/s/ Jack C. Brown
------------------------------------------------------
Signature

Jack C. Brown
------------------------------------------------------
Print Name

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]