Document:

364 DAY COMPETITIVE ADVANCE AND REVOLVING CREDIT FACILITY

 Exhibit 10.27 
  

  
 $1,400,000,000 
  
 364-DAY COMPETITIVE ADVANCE AND

  
 REVOLVING CREDIT FACILITY 
  
 among 
  
 RAYTHEON COMPANY 
  
 as the Borrower, 
  
 Raytheon Technical Services Company LLC and 
  
 Raytheon Aircraft Company, 
  
 each as a Guarantor, 
  
 THE
LENDERS NAMED HEREIN, 
  
 Bank of America, N.A., 
  
 as Syndication Agent, 
  
 Citicorp USA, Inc. and Credit Suisse First Boston, 
  
 as Documentation Agents, 
  
 and 
  
 JPMORGAN CHASE BANK, 
  
 as Administrative Agent, 
  
 Dated as of November 24, 2003 
  

  
 J.P. Morgan Securities INC. and 
  
 BANC of AMERICA SECURITIES LLC 
  
 as Joint Lead Arrangers and Joint Bookrunners 
  

 Table of Contents 
  

					
	 	  	 	  	Page

	 ARTICLE I   Definitions
	  	1
	 SECTION 1.01.
	  	Defined Terms	  	13
	 SECTION 1.02.
	  	Terms Generally	  	13
		
	 ARTICLE II   The Credits
	  	13
	 SECTION 2.01.
	  	Commitments	  	13
	 SECTION 2.02.
	  	Loans	  	13
	 SECTION 2.03.
	  	Competitive Bid Procedure	  	14
	 SECTION 2.04.
	  	Borrowing Procedure	  	16
	 SECTION 2.05.
	  	Evidence of Debt; Repayment of Loans	  	16
	 SECTION 2.06.
	  	Fees	  	17
	 SECTION 2.07.
	  	Interest on Loans	  	18
	 SECTION 2.08.
	  	Default Interest	  	18
	 SECTION 2.09.
	  	Alternate Rate of Interest	  	18
	 SECTION 2.10.
	  	Termination and Reduction of Commitments	  	19
	 SECTION 2.11.
	  	Conversion and Continuation of Revolving Credit Borrowings	  	19
	 SECTION 2.12.
	  	Prepayment	  	20
	 SECTION 2.13.
	  	Reserve Requirements; Change in Circumstances	  	21
	 SECTION 2.14.
	  	Change in Legality	  	22
	 SECTION 2.15.
	  	Indemnity	  	22
	 SECTION 2.16.
	  	Pro Rata Treatment	  	23
	 SECTION 2.17.
	  	Sharing of Setoffs	  	23
	 SECTION 2.18.
	  	Payments	  	23
	 SECTION 2.19.
	  	Taxes	  	24
	 SECTION 2.20.
	  	Assignment of Commitments Under Certain Circumstances; Duty to Mitigate	  	26
		
	 ARTICLE III   Representations And Warranties
	  	26
	 SECTION 3.01.
	  	Organization; Powers	  	26
	 SECTION 3.02.
	  	Authorization	  	27
	 SECTION 3.03.
	  	Enforceability	  	27
	 SECTION 3.04.
	  	Governmental Approvals	  	27
	 SECTION 3.05.
	  	Financial Statements	  	27
	 SECTION 3.06.
	  	No Material Adverse Change	  	27
	 SECTION 3.07.
	  	Litigation; Compliance with Laws	  	27
	 SECTION 3.08.
	  	Federal Reserve Regulations	  	28
	 SECTION 3.09.
	  	Investment Company Act; Public Utility Holding Company Act	  	28
	 SECTION 3.10.
	  	Tax Returns	  	28
	 SECTION 3.11.
	  	No Material Misstatements	  	28
	 SECTION 3.12.
	  	Employee Benefit Plans	  	28
	 SECTION 3.13.
	  	No Default	  	29
	 SECTION 3.14.
	  	Ownership of Property; Liens; Insurance	  	29
	 SECTION 3.15.
	  	Intellectual Property	  	29
	 SECTION 3.16.
	  	Labor Matters	  	29
	 SECTION 3.17.
	  	Environmental Matters	  	29
	 SECTION 3.18.
	  	Solvency	  	30

  

 i 

					
	 	  	 	  	Page

		
	 ARTICLE IV   Conditions Of Effectiveness and Lending
	  	30
	 SECTION 4.01.
	  	All Borrowings	  	30
	 SECTION 4.02.
	  	Effectiveness	  	31
		
	 ARTICLE V   Affirmative Covenants
	  	32
	 SECTION 5.01.
	  	Existence; Businesses and Properties	  	32
	 SECTION 5.02.
	  	Insurance	  	33
	 SECTION 5.03.
	  	Payment of Obligations; Taxes	  	33
	 SECTION 5.04.
	  	Financial Statements, Reports, etc	  	33
	 SECTION 5.05.
	  	Litigation and Other Notices	  	34
	 SECTION 5.06.
	  	Employee Benefits	  	34
	 SECTION 5.07.
	  	Maintaining Records; Access to Properties and Inspections	  	34
	 SECTION 5.08.
	  	Use of Proceeds	  	35
	 SECTION 5.09.
	  	Environmental Laws	  	35
		
	 ARTICLE VI   Negative Covenants
	  	35
	 SECTION 6.01.
	  	Liens	  	35
	 SECTION 6.02.
	  	Sale and Lease-Back Transactions	  	36
	 SECTION 6.03.
	  	Mergers, Consolidations and Sales of Assets	  	37
	 SECTION 6.04.
	  	Subsidiary Indebtedness	  	37
	 SECTION 6.05.
	  	Financial Covenants	  	37
		
	 ARTICLE VII   Events Of Default
	  	38
		
	 ARTICLE VIII   The Administrative Agent
	  	40
		
	 ARTICLE IX   Guarantee
	  	42
		
	 ARTICLE X   Miscellaneous
	  	43
	 SECTION 10.01.
	  	Notices	  	43
	 SECTION 10.02.
	  	Survival of Agreement	  	43
	 SECTION 10.03.
	  	Binding Effect	  	44
	 SECTION 10.04.
	  	Successors and Assigns	  	44
	 SECTION 10.05.
	  	Expenses; Indemnity	  	47
	 SECTION 10.06.
	  	Right of Setoff	  	47
	 SECTION 10.07.
	  	APPLICABLE LAW	  	48
	 SECTION 10.08.
	  	Waivers; Amendment	  	48
	 SECTION 10.09.
	  	Interest Rate Limitation	  	48
	 SECTION 10.10.
	  	Entire Agreement	  	48
	 SECTION 10.11.
	  	WAIVER OF JURY TRIAL	  	49
	 SECTION 10.12.
	  	Severability	  	49
	 SECTION 10.13.
	  	Counterparts	  	49
	 SECTION 10.14.
	  	Headings	  	49
	 SECTION 10.15.
	  	Jurisdiction; Consent to Service of Process	  	49
	 SECTION 10.16.
	  	Confidentiality	  	50
	 SECTION 10.17.
	  	Release of Guarantees	  	50
	 SECTION 10.18.
	  	Waiver and Consent of the Existing Credit Agreement	  	51

  

 ii 

 EXHIBITS 
  

			
		
	Exhibit A	  	Administrative Questionnaire
		
	Exhibit B	  	Form of Assignment and Acceptance
		
	Exhibit C	  	Form of Borrowing Request
		
	Exhibit D-1	  	Form of Competitive Bid Request
		
	Exhibit D-2	  	Form of Notice of Competitive Bid Request
		
	Exhibit D-3	  	Form of Competitive Bid
		
	Exhibit D-4	  	Form of Competitive Bid Accept/Reject Letter
		
	Exhibit E	  	Form of Opinion of Jay B. Stephens
		
	Exhibit F	  	Form of Opinion of Bingham McCutchen LLP

  
 SCHEDULES

  

			
		
	Schedule 2.01	  	Lenders and Commitments
		
	Schedule 3.01	  	Significant Subsidiaries
		
	Schedule 3.05	  	Financial Statements/Material Liabilities
		
	Schedule 3.07	  	Litigation
		
	Schedule 6.01	  	Existing Liens
		
	Schedule 6.04	  	Existing Subsidiary Indebtedness

  

 iii 

 364-DAY COMPETITIVE ADVANCE AND REVOLVING CREDIT FACILITY, dated as of November 24, 2003, among RAYTHEON
COMPANY, a Delaware corporation (the “Borrower”), RAYTHEON TECHNICAL SERVICES COMPANY LLC, a Delaware limited liability company, and RAYTHEON AIRCRAFT COMPANY, a Kansas corporation, each as a Guarantor (in such capacity, each a
“Guarantor” and, collectively, the “Guarantors”), the Lenders (as defined in Article I), J.P. MORGAN SECURITIES INC. and BANC OF AMERICA SECURITIES LLC, as joint lead arrangers and joint bookrunners (in such
capacity, the “Arrangers”), BANK OF AMERICA, N.A., as syndication agent (in such capacity, the “Syndication Agent”), CITICORP USA, INC. and CREDIT SUISSE FIRST BOSTON, as documentation agents (in such capacity, each
a “Documentation Agent” and, collectively, the “Documentation Agents”), and JPMORGAN CHASE BANK, a New York banking corporation, as administrative agent (in such capacity, the “Administrative
Agent”, and, collectively with the Syndication Agent, the “Agents”) for the Lenders. 
  
 The Borrower has requested the Lenders, and the Lenders have agreed, to extend credit in the form of Revolving Loans at any time and from time to time
prior to the Maturity Date, in an aggregate principal amount at any time outstanding not in excess of $1,400,000,000. The Borrower also has requested the Lenders to provide a procedure pursuant to which the Borrower may invite the Lenders to bid on
an uncommitted basis on short-term borrowings by the Borrower. The proceeds of the Loans are to be used by the Borrower for working capital and general corporate purposes of the Borrower and its Subsidiaries. 
  
 The Lenders are willing to extend such credit to the Borrower on the terms
and subject to the conditions set forth herein. Accordingly, the parties hereto agree as follows: 
  
 ARTICLE I 
  
 Definitions 
  
 SECTION
1.01.    Defined Terms. As used in this Agreement, the following terms shall have the meanings specified below: 
  
 “ABR Borrowing” shall mean a Borrowing comprised of ABR Loans. 
  
 “ABR Loan” shall mean any Loan bearing interest at the Alternate Base Rate in accordance with the
provisions of Article II. 
  
 “Administrative
Questionnaire” shall mean an Administrative Questionnaire in the form of Exhibit A. 
  
 “Affiliate” shall mean, when used with respect to a specified person, another person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the person specified. 
  
 “Agents”
shall have the meaning assigned to such term in the preamble. 
  
 “Agents’ Fees” shall have the meaning assigned to such term in Section 2.06(c). 
  
 “Aggregate Revolving Credit Exposure” shall mean the aggregate amount of the Lenders’ Revolving Credit Exposures. 

 “Agreement” shall mean this 364-Day Competitive Advance and Revolving Credit Facility,
as amended, supplemented or otherwise modified from time to time. 
  
 “Alternate Base Rate” shall mean, for any day, a rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Base CD Rate in effect on
such day plus 1% and (c) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%. If for any reason the Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that it is unable to
ascertain the Base CD Rate or the Federal Funds Effective Rate or both for any reason, including the inability or failure of the Administrative Agent to obtain sufficient quotations in accordance with the terms hereof, the Alternate Base Rate shall
be determined without regard to clause (b) or (c), or both, of the preceding sentence, as appropriate, until the circumstances giving rise to such inability no longer exist. Any change in the Alternate Base Rate due to a change in the Prime Rate,
the Base CD Rate or the Federal Funds Effective Rate shall be effective on the effective date of such change in the Prime Rate, the Base CD Rate or the Federal Funds Effective Rate, respectively. 
  
 “Applicable Percentage” shall mean, with respect to any
Eurodollar Loan (other than any Eurodollar Competitive Loan), with respect to any ABR Loan or with respect to the Facility Fees, as the case may be, with respect to the day of, and any day after, the Closing Date, the applicable percentage set forth
below under the caption “Eurodollar Spread”, “ABR Spread” or “Fee Percentage”, as the case may be, based upon the ratings by S&P and Moody’s, respectively, applicable on such date to the Index Debt;
provided, that, after the Maturity Date, the applicable percentage (Eurodollar Spread or ABR Spread) below shall be increased by 0.500% per annum 
  

							
	 	 	 Eurodollar Spread

	 	 ABR Spread

	 	 Fee Percentage

	 Category 1
	 	 	 	 	 	 
	 BBB+ or higher by S&P or Baa1 or higher by Moody’s
	 	0.625%	 	0.000%	 	0.125%
				
	 Category 2
	 	 	 	 	 	 
	 BBB by S&P or Baa2 by Moody’s
	 	0.725%	 	0.000%	 	0.150%
				
	 Category 3
	 	 	 	 	 	 
	 BBB–by S&P or Baa3 by Moody’s
	 	0.950%	 	0.000%	 	0.175%
				
	 Category 4
	 	 	 	 	 	 
	 BB+ by S&P or Ba1 by Moody’s
	 	1.275%	 	0.500%	 	0.225%
				
	 Category 5
	 	 	 	 	 	 
	 BB or lower by S&P or Ba2 or lower by Moody’s
	 	1.675%	 	1.000%	 	0.325%

  
 For purposes of this
definition, (i) if either Moody’s or S&P shall not have in effect a rating for the Index Debt (other than by reason of the circumstances referred to in the last sentence of this paragraph), then such rating agency shall be deemed to have
established a rating in Category 5; (ii) if the ratings established or deemed to have been established by Moody’s and S&P for the Index Debt shall fall within different Categories, the Applicable Percentage shall be based on the higher of
the two ratings 
  

 2 

 unless the ratings differ by more than one category, in which case the governing rating shall be the rating next below
the higher of the two; and (iii) if the ratings established or deemed to have been established by Moody’s and S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of Moody’s or S&P), such
change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the Applicable Percentage shall apply during the period commencing on the effective date of such change and ending on the date
immediately preceding the effective date of the next such change. If the rating system of Moody’s or S&P shall change, or if either such rating agency shall cease to be in the business of rating corporate debt obligations, the Borrower and
the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the non-availability of ratings from such rating agency and, pending the effectiveness of any such amendment, the Applicable Percentage shall
be determined by reference to the rating most recently in effect prior to such change or cessation. 
  
 “Arrangers” shall have the meaning assigned to such term in the preamble. 
  
 “Assignment and Acceptance” shall mean an assignment and acceptance entered into by a Lender and an
assignee, and accepted by the Administrative Agent, in the form of Exhibit B or such other form as shall be approved by the Administrative Agent. 
  
 “Base CD Rate” shall mean the sum of (a) the product of (i) the Three-Month Secondary CD Rate and (ii) Statutory Reserves and (b) the
Assessment Rate. The term “Statutory Reserves” shall mean a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve
percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board and any other domestic banking authority to which the Administrative Agent or any Lender (including any branch,
Affiliate, or other fronting office making or holding a Loan) is subject with respect to the Base CD Rate, for new negotiable nonpersonal time deposits in Dollars of over $100,000 with maturities approximately equal to three months. Statutory
Reserves shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. The term “Assessment Rate” shall mean for any date the annual rate (rounded upwards, if necessary, to the next 1/100
of 1%) most recently estimated by the Administrative Agent as the then current net annual assessment rate that will be employed in determining amounts payable by the Administrative Agent to the Federal Deposit Insurance Corporation (or any
successor) for insurance by such Corporation (or such successor) of time deposits made in Dollars at the Administrative Agent’s domestic offices. 
  
 “Board” shall mean the Board of Governors of the Federal Reserve System of the United States. 
  
 “Borrowing” shall mean a group of Loans of a single Type
made by the Lenders (or, in the case of a Competitive Borrowing, by the Lender or Lenders whose Competitive Bids have been accepted pursuant to Section 2.03) on a single date and as to which a single Interest Period is in effect. 
  
 “Borrowing Request” shall mean a request by the Borrower in
accordance with the terms of Section 2.04 and substantially in the form of Exhibit C. 
  
 “Business” shall have the meaning assigned to such term in Section 3.17. 
  
 “Business Day” shall mean any day other than a Saturday, Sunday or day on which banks in New York City are authorized or required by law
to close; provided, however, that, when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in Dollar deposits in the London interbank
market. 
  

 3 

 “Capital Lease Obligations” shall mean as to any person, the obligations of such person
to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance
sheet of such person under GAAP and, for the purposes of this Agreement, the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP. 
  
 A “Change in Control” shall be deemed to have occurred if
(a) any “person” or “group” as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) shall become the “beneficial owner” (as defined in Rules
13(d)-3 and 13(d)-5 under the Exchange Act), directly or indirectly, of more than 50% of the outstanding common stock of the Borrower, or (b) a majority of the seats (other than vacant seats) on the board of directors of the Borrower shall at any
time have been occupied by persons who were neither (i) nominated by the board of directors of the Borrower nor (ii) appointed by directors so nominated. 
  
 “Closing Date” shall mean November 24, 2003. 
  
 “Code” shall mean the Internal Revenue Code of 1986, as the same may be amended from time to time. 
  
 “Commitment” shall mean, with respect to each Lender, the
commitment of such Lender to make Revolving Loans hereunder in an aggregate principal and/or face amount not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Acceptance pursuant to
which such Lender became a party hereto, as the same may be (a) reduced from time to time pursuant to Section 2.10 or pursuant to Section 2.16, and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to
Section 10.04. The aggregate initial Commitments shall be $1,400,000,000. 
  
 “Competitive Bid” shall mean an offer by a Lender to make a Competitive Loan pursuant to Section 2.03. 
  
 “Competitive Bid Accept/Reject Letter” shall mean a notification made by the Borrower pursuant to Section 2.03(d) in the form of Exhibit
D-4. 
  
 “Competitive Bid Rate” shall mean, as to
any Competitive Bid made by a Lender pursuant to Section 2.03(b), (i) in the case of a Eurodollar Competitive Loan, the Margin, and (ii) in the case of a Fixed Rate Loan, the fixed rate of interest offered by the Lender making such Competitive Bid.

  
 “Competitive Bid Request” shall mean a
request made pursuant to Section 2.03 in the form of Exhibit D-1. 
  
 “Competitive Borrowing” shall mean a Borrowing consisting of a Competitive Loan or concurrent Competitive Loans from the Lender or Lenders whose Competitive Bids for such Borrowing have been accepted by the Borrower under
the bidding procedure described in Section 2.03. 
  
 “Competitive Loan” shall mean a Loan from a Lender to the Borrower pursuant to the bidding procedure described in Section 2.03. Each Competitive Loan shall be a Eurodollar Competitive Loan or a Fixed Rate Loan. 

 

 4 

 “Confidential Information Memorandum” shall mean the Confidential Information Memorandum
of the Borrower dated October 2003, as revised, amended, modified or otherwise supplemented prior to the date hereof. 
  
 “Consolidated EBITDA” shall mean, for any period, the sum of (a) Consolidated Net Income for such period and (b) the aggregate amounts
deducted in determining Consolidated Net Income in respect of (i) Consolidated Net Interest Expense for such period, (ii) income taxes, depreciation and amortization of the Borrower and its consolidated Subsidiaries for such period determined in
accordance with GAAP and (iii) write-offs of goodwill as required, or as would be required in the next succeeding fiscal year of the Borrower, by Statement of Financial Accounting Standards No. 142, Goodwill and Other Intangible Assets. 

 
 “Consolidated Interest Coverage Ratio” shall mean for any
period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Net Interest Expense for such period. 
  
 “Consolidated Net Income”: for any period, the consolidated net income (or deficit) of the Borrower and its consolidated Subsidiaries for
such period, determined in accordance with GAAP; provided that (i) for the fiscal quarter of the Borrower and its consolidated Subsidiaries ending June 29, 2003, such Consolidated Net Income shall be increased by an amount not to exceed
$100,000,000 for such fiscal quarter, representing one-time charges to the extent recorded in connection with the discontinued operations of Raytheon Engineers and Constructors with respect to such fiscal quarter and (ii) for the fiscal quarter of
the Borrower and its consolidated Subsidiaries ending September 28, 2003, such Consolidated Net Income shall be increased by an amount not to exceed $306,000,000 for such fiscal quarter, representing write-offs and charges to the extent recorded for
such quarter in connection with the Network Centric Systems business, the Technical Services business, and the discontinued operations of Raytheon Engineers and Constructors with respect to such fiscal quarter. 
  
 “Consolidated Net Interest Expense” shall mean, for any
period, net interest expense of the Borrower and its consolidated Subsidiaries for such period, determined in accordance with GAAP. 
  
 “Consolidated Net Tangible Assets” shall mean, as at any date of determination, the total amount of assets of the Borrower and the
Subsidiaries (less applicable depreciation, amortization and other valuation reserves) at such date, after deducting therefrom (a) all current liabilities of the Borrower and the Subsidiaries at such date and (b) all goodwill, trade names,
trademarks, patents, unamortized debt issuance fees and expenses and other like intangibles at such date. 
  
 “Contractual Obligations” shall mean, as to any person, any provision of any security issued by such person or of any agreement,
instrument or other undertaking to which such person is a party or by which it or any of its property is bound. 
  
 “Control” shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies
of a person, whether through the ownership of voting securities, by contract or otherwise, and “Controlling” and “Controlled” shall have meanings correlative thereto. 
  
 “Default” shall mean any event or condition which upon
notice, lapse of time or both would constitute an Event of Default. 
  
 “Dollars” or “$” shall mean lawful money of the United States of America. 
  
 “Environmental Laws” shall mean any and all foreign, Federal, state, local or municipal laws, rules, orders, regulations, statutes,
ordinances, codes, decrees, requirements of any Governmental 
  

 5 

 Authority or other applicable laws or regulations (including common law) regulating, relating to or imposing liability or
standards of conduct concerning protection of human health or the environment, as now or may at any time hereafter be in effect. 
  
 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as the same may be amended from time to time. 
  
 “ERISA Affiliate” shall mean any trade or business (whether
or not incorporated) that, together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code, or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under
Section 414 of the Code. 
  
 “ERISA Event” shall
mean (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations issued thereunder, with respect to a Plan; (b) the adoption of any amendment to a Plan that would require the provision of security pursuant to Section
401(a)(29) of the Code or Section 307 of ERISA; (c) the existence with respect to any Plan of an “accumulated funding deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived; (d) the filing
pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan; (e) the incurrence of any liability under Title IV of ERISA with respect to the termination of
any Plan or the withdrawal or partial withdrawal of the Borrower or any of its ERISA Affiliates from any Plan or Multiemployer Plan; (f) the receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating
to the intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan; (g) the receipt by the Borrower or any ERISA Affiliate of any notice that Withdrawal Liability is being imposed or a determination that a Multiemployer
Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA; and (h) the occurrence of a non-exempt “prohibited transaction” with respect to which the Borrower or any of its Subsidiaries is a
“disqualified person” (within the meaning of Section 4975) of the Code, or with respect to which the Borrower or any such Subsidiary could otherwise be liable. 
  
 “Eurocurrency Reserve Requirements” shall mean for any day as applied to a Eurodollar Loan, the aggregate
(without duplication) of the maximum rates (expressed as a decimal fraction) of reserve requirements in effect on such day (including basic, supplemental, marginal and emergency reserves) under any regulations of the Board or other Governmental
Authority having jurisdiction with respect thereto dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board) maintained by a member bank of the
Federal Reserve System. 
  
 “Eurodollar Base
Rate” shall mean with respect to each day during each Interest Period pertaining to a Eurodollar Loan, the rate per annum determined on the basis of the rate for deposits in Dollars for a period equal to such Interest Period commencing on
the first day of such Interest Period appearing on Page 3750 of the Telerate screen as of 11:00 A.M., London time, two Business Days prior to the beginning of such Interest Period. In the event that such rate does not appear on Page 3750 of the
Telerate screen (or otherwise on such screen), the “Eurodollar Base Rate” shall be determined by reference to such other comparable publicly available service for displaying eurodollar rates as may be selected by the Administrative
Agent or, in the absence of such availability, by reference to the rate at which the Administrative Agent is offered Dollar deposits at or about 11:00 A.M., New York City time, two Business Days prior to the beginning of such Interest Period in the
interbank eurodollar market where its eurodollar and foreign currency and exchange operations are then being conducted for delivery on the first day of such Interest Period for the number of days comprised therein. 
  
 “Eurodollar Borrowing” shall mean a Borrowing comprised of
Eurodollar Loans. 
  

 6 

 “Eurodollar Competitive Borrowing” shall mean a Borrowing comprised of Eurodollar
Competitive Loans. 
  
 “Eurodollar Competitive
Loan” shall mean any Competitive Loan bearing interest at a rate determined by reference to the Eurodollar Rate in accordance with the provisions of Article II. 
  
 “Eurodollar Loan” shall mean any Eurodollar Revolving Loan or Eurodollar Competitive Loan. 
  
 “Eurodollar Rate” shall mean with respect to each day during
each Interest Period pertaining to a Eurodollar Loan, a rate per annum determined for such day in accordance with the following formula (rounded upward to the nearest 1/100th of 1%): 
  
                     Eurodollar Base
Rate                     
 1.00—Eurocurrency Reserve Requirements 
  
 “Eurodollar Revolving Credit Borrowing” shall mean a Borrowing comprised of Eurodollar Revolving Loans. 
  
 “Eurodollar Revolving Loan” shall mean any Revolving Loan bearing interest at a rate determined by reference to the Eurodollar Rate in
accordance with the provisions of Article II. 
  
 “Event
of Default” shall have the meaning assigned to such term in Article VII. 
  
 “Excess Utilization Day” shall mean each day on which the Utilization Percentage exceeds 33.3%. 
  
 “Existing Credit Agreement” shall mean the 364-Day Competitive Advance and Revolving Credit Facility Credit Agreement, dated as of
November 25, 2002 (as amended, supplemented or otherwise modified through the date hereof), among Raytheon Company, as the borrower, Raytheon Technical Services Company and Raytheon Aircraft Company, as guarantors, the lenders from time to time
parties thereto, Bank of America, N.A., as syndication agent, and JPMorgan Chase Bank, as administrative agent. 
  
 “Facility Fee” shall have the meaning assigned to such term in Section 2.06(a). 
  
 “Federal Funds Effective Rate” shall mean, for any day, the
weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such
rate is not so published for any day that is a Business Day, the average of the quotations for the day of such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. 
  
 “Fee Letter” shall be the collective reference to (i) the
Fee Letter, dated October 7, 2003, between the Borrower, the Administrative Agent and J.P. Morgan Securities Inc. and (ii) the Fee Letter, dated October 7, 2003, between the Borrower, Bank of America, N.A., and Banc of America Securities LLC.

  
 “Fees” shall mean the Facility Fees and the
Agents’ Fees. 
  
 “Financial Officer” of any
corporation shall mean the chief financial officer, principal accounting officer, Treasurer, Assistant Treasurer or Controller of such corporation. 
  

 7 

 “Five-Year Credit Agreement” shall mean the Five-Year Credit Agreement, dated as of
November 28, 2001, as amended, supplemented or otherwise modified from time to time, among the Borrower, Raytheon Technical Services Company LLC, a Delaware limited liability company, and Raytheon Aircraft Company, a Kansas corporation, each as a
Guarantor, the several lenders from time to time parties thereto, J.P. Morgan Securities Inc. and Banc of America Securities LLC, as joint lead arrangers and joint bookrunners, Citicorp USA, Inc., Credit Suisse First Boston and Mizuho Financial
Group, each as a documentation agent, Bank of America, N.A, as the syndication agent, and JPMorgan Chase Bank, as the administrative agent. 
  
 “Fixed Rate Borrowing” shall mean a Borrowing comprised of Fixed Rate Loans. 
  
 “Fixed Rate Loan” shall mean any Competitive Loan bearing
interest at a fixed percentage rate per annum (expressed in the form of a decimal to no more than four decimal places) specified by the Lender making such Loan in its Competitive Bid. 
  
 “GAAP” shall mean generally accepted accounting principles applied on a consistent basis. 
  
 “Governmental Authority” shall mean any Federal, state,
local or foreign court or governmental agency, authority, instrumentality or regulatory body. 
  
 “Guarantee” of or by any person shall mean any obligation, contingent or otherwise, of such person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other liability of any
other person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligations of such person, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of)
such Indebtedness or liability or to purchase (or to advance or supply funds for the purchase of) any security for the payment of such Indebtedness or liability, (b) to purchase property, securities or services for the purpose of assuring the owner
of such Indebtedness or liability of the payment of such Indebtedness or liability or (c) to maintain working capital, equity capital or other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to
pay such Indebtedness or liability. 
  
 “Guarantor” shall have the meaning assigned to such term in the preamble. 
  
 “Hedge Agreements” shall mean all interest rate swaps, caps or collar agreements or similar arrangements dealing with interest rates or
currency exchange rates or the exchange of nominal interest obligations, either generally or under specific contingencies. 
  
 “Indebtedness” of any person shall mean, as at any date of determination, all indebtedness (including capitalized lease obligations) of
such person and its consolidated subsidiaries at such date that would be required to be included as a liability on a consolidated balance sheet (excluding the footnotes thereto) of such person prepared in accordance with GAAP applied on a basis
consistent with the application used in the financial statements referred to in Section 3.05. 
  
 “Index Debt” shall mean the senior, unsecured, non-credit enhanced, long-term indebtedness for borrowed money of the Borrower. 
  
 “Interest Payment Date” shall mean, with respect to any Loan, the last day of the Interest Period
applicable to the Borrowing of which such Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of more than three months’ duration, each day that would have been an Interest Payment Date had successive Interest
Periods of three months’ duration been applicable to such 
  

 8 

 Borrowing, and, in addition, except with respect to any ABR Loan, the date of any prepayment of such Loan or conversion
of such Loan to a Loan of a different Type. 
  
 “Interest
Period” shall mean (a) as to any Eurodollar Borrowing, the period commencing on the date of such Borrowing or on the last day of the immediately preceding Interest Period applicable to such Borrowing, as the case may be, and ending on the
numerically corresponding day (or, if there is no numerically corresponding day, on the last day) in the calendar month that is 1, 2, 3 or 6 months thereafter, as the Borrower may elect, (b) as to any ABR Borrowing, the period commencing on the date
of such Borrowing or on the last day of the immediately preceding Interest Period applicable to such Borrowing, as the case may be, and ending on the earlier of (i) the next succeeding March 31, June 30, September 30 or December 31 and (ii) subject
to Section 2.05(a), the Maturity Date and (c) as to any Fixed Rate Borrowing, the period commencing on the date of such Borrowing and ending on the date specified in the Competitive Bids in which the offer to make the Fixed Rate Loans comprising
such Borrowing was extended, which shall not be earlier than seven days after the date of such Borrowing or later than 360 days after the date of such Borrowing; provided, however, that, if any Interest Period would end on a day other
than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless, in the case of a Eurodollar Borrowing only, such next succeeding Business Day would fall in the next calendar month, in which case such Interest
Period shall end on the next preceding Business Day. Interest shall accrue from and including the first day of an Interest Period to but excluding the last day of such Interest Period. Notwithstanding anything to the contrary in this definition of
“Interest Period”, and except as provided in Section 2.05(a), any Interest Period that would otherwise extend beyond the Maturity Date shall end on the Maturity Date. 
  
 “Lender Affiliate” shall mean (a) any Affiliate of any Lender, (b) any person that is administered or
managed by any Lender or any Affiliate of any Lender and that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business and (c) with respect to any
Lender which is a fund that invests in commercial loans and similar extensions of credit, any other fund that invests in commercial loans and similar extensions of credit and is managed or advised by the same investment advisor as such Lender or by
an Affiliate of such Lender or investment advisor. 
  
 “Lenders” shall mean (a) the financial institutions listed on Schedule 2.01 (other than any such financial institution that has ceased to be a party hereto pursuant to an Assignment and Acceptance) and (b) any
financial institution that has become a party hereto pursuant to an Assignment and Acceptance. 
  
 “Lien” shall mean, with respect to any asset of any person, (a) any mortgage, deed of trust, lien, pledge, encumbrance, charge or security interest in or on such asset, (b) the interest of a vendor or
a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities that
constitute assets of such person, any purchase option, call or similar right of a third party with respect to such securities. 
  
 “Loans” shall mean the Revolving Loans and the Competitive Loans. 
  
 “Mandatorily Redeemable Equity Securities” shall mean the 17,250,000 equity security units, including any
remarketed securities, issued by the Borrower in May 2001. Each equity security unit consists of a contract to purchase shares of the Borrower’s common stock on May 15, 2004, and a mandatorily redeemable equity security, with a stated
liquidation amount of $50.00 due on May 15, 2004. The mandatorily redeemable equity security represents an undivided interest in the assets of RC Trust I, a Delaware business trust, formed for the purpose of issuing these securities and whose assets
consist solely of subordinated notes issued by the Borrower. 
  

 9 

 “Margin” shall mean, as to any Eurodollar Competitive Loan, the margin (expressed as a
percentage rate per annum in the form of a decimal to no more than four decimal places) to be added to or subtracted from the Eurodollar Rate in order to determine the interest rate applicable to such Loan, as specified in the Competitive Bid
relating to such Loan. 
  
 “Margin Stock” shall
have the meaning assigned to such term in Regulation U. 
  
 “Material Adverse Effect” shall mean a materially adverse effect on the business, assets, operations or condition, financial or otherwise, of the Borrower and the Subsidiaries taken as a whole. 
  
 “Materials of Environmental Concern” shall mean all
explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, urea-formaldehyde
insulation, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law. 
  
 “Maturity Date” shall mean the date which is 364 days after the Closing Date. 
  
 “Moody’s” shall mean Moody’s Investors Service,
Inc. 
  
 “Multiemployer Plan” shall mean a
multiemployer plan as defined in Section 4001(a)(3) of ERISA. 
  
 “Obligations” shall mean (a) the due and punctual payment of (i) the principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding,
regardless of whether allowed or allowable in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations, including Fees,
costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of
whether allowed or allowable in such proceeding) of the Borrower to the Lenders under this Agreement and (b) the due and punctual performance of all covenants, agreements, obligations and liabilities of the Borrower under or pursuant to this
Agreement. 
  
 “PBGC” shall mean the Pension
Benefit Guaranty Corporation referred to and defined in ERISA. 
  
 “Permitted Receivables Program” shall mean any receivables securitization program pursuant to which the Borrower or any of the Subsidiaries sells accounts receivable and related receivables to any non-Affiliate in a
“true sale” transaction; provided, however, that any related indebtedness incurred to finance the purchase of such accounts receivable is not includible on the balance sheet of the Borrower or any Subsidiary in accordance
with GAAP and applicable regulations of the Securities and Exchange Commission. 
  
 “person” shall mean any natural person, corporation, limited liability company, business trust, joint venture, association, company, partnership or government, or any agency or political subdivision
thereof. 
  
 “Plan” shall mean any employee
pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 307 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were
terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 
  

 10 

 “Prime Rate” shall mean the rate of interest per annum publicly announced from time to
time by the Administrative Agent as its prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective on the date such change is publicly announced as being effective. 
  
 “Property” shall have the meaning assigned to such term in
Section 3.17. 
  
 “Ratio Certificate” shall mean
a certificate, signed on behalf of the Borrower by a Financial Officer of the Borrower, delivered to the Administrative Agent on the Closing Date and as may be required by Section 5.04(c), and setting forth the calculations, in reasonable detail,
required to determine compliance with all covenants set forth in Sections 6.05 (a) and (b) on the Closing Date or on the last day of any fiscal quarter, as the case may be. 
  
 “Register” shall have the meaning given such term in Section 10.04(d). 
  
 “Regulation U” shall mean Regulation U of the Board as from
time to time in effect and all official rulings and interpretations thereunder or thereof. 
  
 “Regulation X” shall mean Regulation X of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof. 
  
 “Required Lenders” shall mean, at any time, the holders of
more than 50% of the Commitments then in effect or, if the Commitments have been terminated, the Aggregate Revolving Credit Exposure then outstanding. 
  
 “Responsible Officer” of any corporation shall mean any executive officer or Financial Officer of such corporation and any other officer
or similar official thereof responsible for the administration of the obligations of such corporation in respect of this Agreement. 
  
 “Revolving Credit Borrowing” shall mean a Borrowing comprised of Revolving Loans. 
  
 “Revolving Credit Exposure” shall mean, as to any Lender at
any time, an amount equal to the aggregate principal amount of all Revolving Loans held by such Lender then outstanding. 
  
 “Revolving Loans” shall mean the revolving loans made by the Lenders to the Borrower pursuant to Section 2.01. Each Revolving Loan shall
be a Eurodollar Revolving Loan or an ABR Loan. 
  
 “S&P” shall mean Standard & Poor’s Ratings Service. 
  
 “Significant Subsidiary” shall mean any Subsidiary that would be a “Significant Subsidiary” at such time, as such term is defined in Regulation S-X promulgated by the Securities and Exchange
Commission as in effect on the Closing Date. Notwithstanding Regulation S-X, each Guarantor will at all times be deemed to be a Significant Subsidiary. 
  
 “Solvent” when used with respect to any person, shall mean that, as of any date of determination, (a) the amount of the “present
fair saleable value” of the assets of such person will, as of such date, exceed the amount of all “liabilities of such person, contingent or otherwise”, as of such date, as such quoted terms are determined in accordance with
applicable federal and state laws governing determinations of the insolvency of debtors, (b) the present fair saleable value of the assets of such person will, as of such date, be greater than the amount that will be required to pay the liability of
such person on its debts as such debts become absolute and matured, (c) such person will not have, as of such date, an unreasonably small amount of capital with which to conduct its business, and (d) such person will be able 
  

 11 

 to pay its debts as they mature. For purposes of this definition, (i) “debt” means liability on a
“claim”, and (ii) “claim” means any (x) right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or
unsecured or (y) right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured or unmatured, disputed,
undisputed, secured or unsecured. 
  
 “Stockholders’
Equity” shall mean, as at any date of determination, the stockholders’ equity of the Borrower and its consolidated Subsidiaries as of such date, as determined in accordance with GAAP. 
  
 “subsidiary” shall mean, with respect to any person (herein
referred to as the “parent”), any corporation, partnership, association or other business entity (a) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or
more than 50% of the general partnership interests are, at the time any determination is being made, owned, controlled or held or (b) that is, at the time any determination is made, otherwise Controlled, by the parent or one or more subsidiaries of
the parent or by the parent and one or more subsidiaries of the parent. 
  
 “Subsidiary” shall mean any subsidiary of the Borrower. 
  
 “Term-out Loans” shall mean Loans the principal amount of which the Borrower allows to remain outstanding after the Maturity Date, but prior to the first anniversary of the Maturity Date, in
accordance with subsection 2.05(a). 
  
 “Three-Month
Secondary CD Rate” shall mean, for any day, the secondary market rate for three-month certificates of deposit reported as being in effect on such day (or, if such day shall not be a Business Day, the next preceding Business Day) by the
Board through the public information telephone line of the Federal Reserve Bank of New York (which rate will, under the current practices of the Board, be published in Federal Reserve Statistical Release H.15(519) during the week following such
day), or, if such rate shall not be so reported on such day or such next preceding Business Day, the average of the secondary market quotations for three-month certificates of deposit of major money center banks in New York City received at
approximately 10:00 a.m., New York City time, on such day (or, if such day shall not be a Business Day, on the next preceding Business Day) by the Administrative Agent from three New York City negotiable certificate of deposit dealers of recognized
standing selected by it. 
  
 “Total
Capitalization” shall mean, as at any date of determination, the sum of Total Debt at such date and Mandatorily Redeemable Equity Securities and Stockholders’ Equity at such date. 
  
 “Total Commitment” shall mean, at any time, the aggregate
amount of the Commitments, as in effect at such time. 
  
 “Total Debt” shall mean, at a particular date, all amounts which would be included as indebtedness (including capitalized leases) on a consolidated balance sheet of the Borrower and its consolidated Subsidiaries, determined
in accordance with GAAP. 
  
 “Transactions” shall
have the meaning assigned to such term in Section 3.02. 
  
 “Type”, when used in respect of any Loan or Borrowing, shall refer to the Rate by reference to which interest on such Loan or on the Loans comprising such Borrowing is determined. For purposes hereof, the term
“Rate” shall include the Eurodollar Rate and the Alternate Base Rate. 
  

 12 

 “Utilization Fee” shall have the meaning assigned to such term in Section 2.06(b).

  
 “Utilization Percentage” shall mean on any
day the percentage equivalent to a fraction (a) the numerator of which is the sum of the aggregate outstanding principal amount of (i) the Loans, (ii) the Loans (as defined under the Five-Year Credit Agreement) and (iii) the L/C Obligations (as
defined under the Five-Year Credit Agreement); and (b) the denominator of which is the sum of (y) the aggregate Commitments (or, on any day after termination of the Commitments, the aggregate Commitments in effect immediately preceding such
termination) and (z) the aggregate Commitments (as defined under the Five-Year Credit Agreement) (or, on any day after termination of the Commitments (as defined under the Five-Year Credit Agreement), the aggregate Commitments (as defined under the
Five-Year Credit Agreement) in effect immediately preceding such termination). 
  
 “Withdrawal Liability” shall mean liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of
Title IV of ERISA. 
  
 SECTION
1.02.    Terms Generally. The definitions in Section 1.01 shall apply equally to both the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding
masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. All references herein to Articles, Sections, Exhibits
and Schedules shall be deemed references to Articles and Sections of, and Exhibits and Schedules to, this Agreement unless the context shall otherwise require. Except as otherwise expressly provided herein, (a) any reference to this Agreement shall
mean this Agreement as amended, restated, supplemented or otherwise modified from time to time and (b) all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided,
however, that for purposes of determining compliance with the covenants contained in Article VI, all accounting terms herein shall be interpreted and all accounting determinations hereunder shall be made in accordance with GAAP as in effect
on the date of the Existing Credit Agreement and applied on a basis consistent with the application used in the financial statements referred to in Section 3.05. 
  
 ARTICLE II  
  
 The Credits 
  
 SECTION 2.01.    Commitments. Subject to the terms and conditions and relying upon the representations and warranties
herein set forth, each Lender agrees, severally and not jointly, to make Revolving Loans to the Borrower, at any time and from time to time on or after the Closing Date, and until the earlier of the Maturity Date and the termination of the
Commitment of such Lender in accordance with the terms hereof, in an aggregate principal amount at any time outstanding that will not result in (a)(i) such Lender’s Revolving Credit Exposure exceeding (ii) such Lender’s Commitment or
(b)(i) the aggregate amount of outstanding Loans exceeding (ii) the Total Commitment. Within the limits set forth in the preceding sentence, the Borrower may borrow, pay or prepay and reborrow Revolving Loans on or after the Closing Date and prior
to the Maturity Date, subject to the terms, conditions and limitations set forth herein. 
  
 SECTION 2.02.    Loans. (a) Each Revolving Loan shall be made as part of a Borrowing consisting of Loans made by the Lenders ratably in accordance with their respective Commitments;
provided, however, that the failure of any Lender to make any Loan shall not in itself relieve any other Lender of its obligation to lend hereunder (it being understood, however, that no Lender shall be responsible for the failure of
any other Lender to make any Loan required to be made by such other Lender). Each Competitive Loan shall be made in accordance with the procedures set forth in 
  

 13 

 Section 2.03. The Loans comprising any Borrowing shall be in an aggregate principal amount that is (i) an integral
multiple of $1,000,000 and not less than $10,000,000 or (ii) equal to the remaining available balance of the Total Commitment. 
  
 (b)    Subject to Sections 2.09 and 2.14, each Competitive Borrowing shall be comprised entirely of Eurodollar Competitive Loans or
Fixed Rate Loans, and each Revolving Credit Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request pursuant to Section 2.03 or 2.04, as applicable. Each Lender may at its option make any Eurodollar Loan by
causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.
Borrowings of more than one Type may be outstanding at the same time; provided, however, that the Borrower shall not be entitled to request any Borrowing that, if made, would result in more than 15 Eurodollar Borrowings outstanding
hereunder at any time. For purposes of the foregoing, Borrowings having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Borrowings. 
  
 (c)    Each Lender shall make each Loan to be made by it
hereunder on the proposed date thereof by wire transfer of immediately available funds to such account in New York City as the Administrative Agent may designate not later than 11:00 a.m., New York City time, and the Administrative Agent shall by
12:00 (noon), New York City time, credit the amounts so received to an account with the Administrative Agent designated by the Borrower in the applicable Borrowing Request or Competitive Bid Request, which account must be in the name of the Borrower
or, if a Borrowing shall not occur on such date because any condition precedent herein specified shall not have been met, return the amounts so received to the respective Lenders. 
  
 (d)    Unless the Administrative Agent shall have received notice from a Lender prior to the date of any
Borrowing that such Lender will not make available to the Administrative Agent such Lender’s portion of such Borrowing, the Administrative Agent may assume that such Lender has made such portion available to the Administrative Agent on the date
of such Borrowing in accordance with paragraph (c) above and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If the Administrative Agent shall have so made funds
available then, to the extent that such Lender shall not have made such portion available to the Administrative Agent, such Lender and the Borrower severally agree to repay to the Administrative Agent within one Business Day of demand therefor such
corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent at (i) in the case of the Borrower, the interest rate
applicable at the time to the Loans comprising such Borrowing and (ii) in the case of such Lender, a rate determined by the Administrative Agent to represent its cost of overnight or short-term funds (which determination shall be conclusive absent
manifest error). If such Lender shall repay to the Administrative Agent such corresponding amount, such amount shall constitute such Lender’s Loan as part of such Borrowing for purposes of this Agreement. 
  
 (e)    Notwithstanding any other provision of this
Agreement, the Borrower shall not be entitled to request any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date, unless the Borrower has given notice to extend payment of the principal amount of the
Loans until the first anniversary of the Maturity Date in accordance with subsection 2.05(a). 
  
 SECTION 2.03.    Competitive Bid Procedure. (a) In order to request Competitive Bids, the Borrower shall hand deliver or telecopy to the Administrative Agent a duly completed
Competitive Bid Request (i) in the case of a Eurodollar Competitive Borrowing, not later than 10:00 a.m., New York City time, four Business Days before the proposed date of such Borrowing and (ii) in the case of a Fixed Rate 
  

 14 

 Borrowing, not later than 10:00 a.m., New York City time, one Business Day before the proposed date of such Borrowing. A
Competitive Bid Request shall not be made within five Business Days after the date of any previous Competitive Bid Request. No ABR Loan shall be requested in, or made pursuant to, a Competitive Bid Request. A Competitive Bid Request that does not
conform substantially to the format of Exhibit D-1 may be rejected by the Administrative Agent and the Administrative Agent shall notify the Borrower of such rejection as promptly as practicable. Each Competitive Bid Request shall refer to this
Agreement and specify (i) whether the Borrowing being requested is to be a Eurodollar Competitive Borrowing or a Fixed Rate Borrowing; (ii) the date of such Borrowing (which shall be a Business Day); (iii) the number and the location of the account
to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); (iv) the aggregate principal amount of such Borrowing, which shall be a minimum of $10,000,000 and an integral multiple of
$1,000,000 and not greater than the Total Commitment then available; and (v) the Interest Period with respect thereto (which may not end after the Maturity Date unless the Borrower has given notice to extend payment of the principal amount of the
Loans until the first anniversary of the Maturity Date in accordance with subsection 2.05(a)). Promptly after its receipt of a Competitive Bid Request that is not rejected, the Administrative Agent shall by telecopy in the form set forth in Exhibit
D-2 invite the Lenders to bid to make Competitive Loans pursuant to the Competitive Bid Request. 
  
 (b)    Each Lender may make one or more Competitive Bids to the Borrower responsive to a Competitive Bid Request. Each Competitive Bid
by a Lender must be received by the Administrative Agent by telecopy in the form of Exhibit D-3, (i) in the case of a Eurodollar Competitive Borrowing, not later than 9:30 a.m., New York City time, three Business Days before the proposed date of
such Competitive Borrowing and (ii) in the case of a Fixed Rate Borrowing, not later than 9:30 a.m., New York City time, on the proposed date of such Competitive Borrowing. Competitive Bids that do not conform substantially to the format of Exhibit
D-3 may be rejected by the Administrative Agent, and the Administrative Agent shall notify the applicable Lender as promptly as practicable. Each Competitive Bid shall refer to this Agreement and specify (x) the principal amount (which shall be a
minimum of $5,000,000 and an integral multiple of $1,000,000 and which may equal the entire principal amount of the Competitive Borrowing requested by the Borrower) of the Competitive Loan or Loans that the Lender is willing to make, (y) the
Competitive Bid Rate or Rates at which the Lender is prepared to make such Loan or Loans and (z) the Interest Period applicable to such Loan or Loans and the last day thereof. 
  
 (c)    The Administrative Agent shall promptly notify the Borrower by telecopy of the Competitive Bid
Rate and the principal amount of each Competitive Loan in respect of which a Competitive Bid shall have been made and the identity of the Lender that shall have made each bid. 
  
 (d)    The Borrower may, subject only to the provisions of this paragraph (d), accept or reject any
Competitive Bid. The Borrower shall notify the Administrative Agent by telephone, confirmed by telecopy in the form of a Competitive Bid Accept/Reject Letter, whether and to what extent it has decided to accept or reject each Competitive Bid, (x) in
the case of a Eurodollar Competitive Borrowing, not later than 10:30 a.m., New York City time, three Business Days before the date of the proposed Competitive Borrowing and (y) in the case of a Fixed Rate Borrowing, not later than 10:30 a.m., New
York City time, on the proposed date of the Competitive Borrowing; provided, however, that (i) the failure of the Borrower to give such notice shall be deemed to be a rejection of each Competitive Bid, (ii) the Borrower shall not accept a
Competitive Bid made at a particular Competitive Bid Rate if the Borrower has decided to reject a Competitive Bid made at a lower Competitive Bid Rate, (iii) the aggregate amount of the Competitive Bids accepted by the Borrower shall not exceed (but
may be less than) the principal amount specified in the Competitive Bid Request, (iv) if the Borrower shall accept a Competitive Bid or Bids made at a particular Competitive Bid Rate but the amount of such Competitive Bid or Bids would cause the
total amount to be accepted by the Borrower to exceed the amount specified in the Competitive Bid Request, then the Borrower shall accept a portion of such Competitive Bid or Bids in an amount equal to 
  
  

 15 

 the amount specified in the Competitive Bid Request less the amount of all other Competitive Bids so accepted, which
acceptance, in the case of multiple Competitive Bids at such Competitive Bid Rate, shall be made pro rata in accordance with the amount of each such Bid and (v) except pursuant to clause (iv) above, no Competitive Bid shall be accepted for a
Competitive Loan unless such Competitive Loan is in a minimum principal amount of $5,000,000 and an integral multiple of $1,000,000; provided further, however, that if a Competitive Loan must be in an amount less than $5,000,000
because of the provisions of clause (iv) above, such Competitive Loan may be for a minimum of $1,000,000 or any integral multiple thereof, and in calculating the pro rata allocation of acceptances of portions of multiple Competitive Bids at a
particular Competitive Bid Rate pursuant to clause (iv) the amounts shall be rounded to integral multiples of $1,000,000 in a manner determined by the Borrower. A notice given by the Borrower pursuant to this paragraph (d) shall be irrevocable.

  
 (e)    The Administrative Agent shall
promptly notify each bidding Lender by telecopy whether or not its Competitive Bid has been accepted (and, if so, in what amount and at what Competitive Bid Rate), and each successful bidder will thereupon become bound, upon the terms and subject to
the conditions hereof, to make the Competitive Loan in respect of which its Competitive Bid has been accepted. 
  
 (f)    If the Administrative Agent shall elect to submit a Competitive Bid in its capacity as a Lender, it shall submit such
Competitive Bid directly to the Borrower at least one quarter of an hour earlier than the time by which the other Lenders are required to submit their Competitive Bids to the Administrative Agent pursuant to paragraph (b) above. 
  
 SECTION 2.04.    Borrowing Procedure. In
order to request a Borrowing (other than a Competitive Borrowing, as to which this Section 2.04 shall not apply), the Borrower shall hand deliver or telecopy to the Administrative Agent a duly completed Borrowing Request (a) in the case of a
Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before a proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 10:00 a.m., New York City time, on the day of a proposed Borrowing. Each
Borrowing Request shall be irrevocable, signed by or on behalf of the Borrower, and shall specify the following information: (i) whether the Borrowing then being requested is to be a Eurodollar Borrowing or an ABR Borrowing; (ii) the date of such
Borrowing (which shall be a Business Day); (iii) the number and location of the account to which funds are to be disbursed (which shall be an account that complies with the requirements of Section 2.02(c)); (iv) the amount of such Borrowing; and (v)
if such Borrowing is to be a Eurodollar Borrowing, the Interest Period with respect thereto; provided, however, that, notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the
requirements set forth in Section 2.02. If no election as to the Type of Borrowing is specified in any such notice, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified
in any such notice, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. The Administrative Agent shall promptly advise the Lenders of any notice given pursuant to this Section 2.04 (and the contents
thereof), and of each Lender’s portion of the requested Borrowing. 
  
 SECTION 2.05.    Evidence of Debt; Repayment of Loans. (a) The Borrower hereby agrees that the outstanding principal balance of each Revolving Loan shall be payable on the Maturity Date and the outstanding
principal balance of each Competitive Loan shall be payable on the last day of the Interest Period applicable thereto. Each Loan shall bear interest from and including the date of such Loan on the outstanding principal balance thereof as set forth
in Section 2.07. The Borrower may, upon written notice to the Administrative Agent given not more than 60 days and at least 15 days prior to the Maturity Date, extend the date upon which the principal amount of the Loans of the Lenders outstanding
as of the Maturity Date will be due and payable to the first anniversary of the Maturity Date. If the Borrower gives notice to the Administrative Agent in accordance with the preceding sentence, the Borrower hereby 
  

 16 

 unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal
amount of the Loans of such Lender on the first anniversary of the Maturity Date (or such earlier date on which the Loans become due and payable pursuant to Article VII). 
  
 (b)    Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender from time to time, including the amounts of principal and interest payable and paid by such Lender from time to time under this Agreement.

  
 (c)    The Administrative Agent shall
maintain accounts in which it will record (i) the amount of each Loan made hereunder, the Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the
Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender’s share thereof. 
  
 (d)    The entries made in the accounts maintained pursuant to paragraphs (b) and (c) of this Section
2.05 shall be prima facie evidence of the existence and amounts of the obligations therein recorded; provided, however, that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not
in any manner affect the obligations of the Borrower to repay the Loans in accordance with their terms. 
  
 (e)    Notwithstanding any other provision of this Agreement, in the event any Lender shall request and receive a promissory note
payable to such Lender and its registered assigns, the interests represented by such note shall at all times (including after any assignment of all or part of such interests pursuant to Section 10.04) be represented by one or more promissory notes
payable to the payee named therein or its registered assigns. 
  
 SECTION 2.06.    Fees. (a) The Borrower agrees to pay to the Administrative Agent for the account of each Lender a facility fee (a “Facility Fee”) for the period from and including the
Closing Date to the later of (i) the Maturity Date (or if the Borrower gives notice to the Administrative Agent pursuant to Section 2.05(a), the first anniversary of the Maturity Date) and (ii) the date the Commitments have been terminated and the
principal of and interest on each Loan, all Fees and all other expenses or amounts payable under this Agreement shall have been paid in full, computed at the Applicable Percentage on the average daily amount of the Commitments (whether used or
unused) or, after the Maturity Date or after the Commitments have been otherwise terminated hereunder, the average daily amount of the Loans outstanding, of such Lender during the period for which payment is made, payable quarterly in arrears on the
last day of each March, June, September and December and on the later of (i) the Maturity Date (or if the Borrower gives notice to the Administrative Agent pursuant to Section 2.05(a), the first anniversary of the Maturity Date) and (ii) the date
the Commitments have been terminated and the principal of and interest on each Loan, all Fees and all other expenses or amounts payable under this Agreement shall have been paid in full, commencing on the first of such dates to occur after the date
hereof. All Facility Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days. 
  
 (b)    The Borrower agrees to pay to the Administrative Agent for the ratable account of each Lender, a utilization fee (a
“Utilization Fee”) at a rate per annum equal to 0.125% for each Excess Utilization Day during the period for which payment is made on the outstanding Loans of such Lender on such Excess Utilization Day. Such Utilization Fees shall
be payable quarterly in arrears on the last day of each March, June, September and December and on the later of (i) the Maturity Date (or if the Borrower gives notice to the Administrative Agent pursuant to Section 2.05(a), the first anniversary of
the Maturity Date) and (ii) the date the Commitments have been terminated and the principal of and interest on each 
  

 17 

 Loan, all Fees and all other expenses or amounts payable under this Agreement shall have been paid in full, commencing on
the first of such dates to occur after the Closing Date. 
  
 (c)    The Borrower agrees to pay to each of the Agents or their Affiliates, for their own account, the fees set forth in the Fee Letter at the times and in the amounts specified therein (the “Agents’
Fees”). 
  
 (d)    All Fees shall be
paid on the dates due, in immediately available funds. Once paid, none of the Fees shall be refundable under any circumstances. 
  
 SECTION 2.07.    Interest on Loans. (a) Subject to the provisions of Section 2.08, the Loans comprising each ABR
Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when the Alternate Base Rate is determined by reference to the Prime Rate and over a year of 360 days at
all other times) at a rate per annum equal to the Alternate Base Rate plus the Applicable Percentage in effect from time to time. 
  
 (b)    Subject to the provisions of Section 2.08, the Loans comprising each Eurodollar Borrowing shall bear interest (computed on the
basis of the actual number of days elapsed over a year of 360 days) at a rate per annum equal to (i) in the case of each Revolving Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Applicable Percentage in
effect from time to time and (ii) in the case of each Competitive Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Margin offered by the Lender making such Loan and accepted by the Borrower pursuant to Section
2.03. 
  
 (c)    Subject to the provisions of
Section 2.08, each Fixed Rate Loan shall bear interest (computed on the basis of the actual number of days elapsed over a year of 360 days) at a rate per annum equal to the fixed rate of interest offered by the Lender making such Loan and accepted
by the Borrower pursuant to Section 2.03. 
  
 (d)    Interest on each Loan shall be payable on the Interest Payment Dates applicable to such Loan except as otherwise provided in this Agreement. Any change in the interest rate on a Loan resulting from a change in the
Alternate Base Rate or the Eurocurrency Reserve Requirements shall become effective as of the opening of business on the day on which such change becomes effective. The applicable Alternate Base Rate or Eurodollar Rate for each Interest Period or
day within an Interest Period, as the case may be, shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. 
  
 SECTION 2.08.    Default Interest. If the Borrower shall default in the payment of the
principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the
date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.07 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on
the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the sum of the Alternate Base Rate plus 2.00%.

  
 SECTION 2.09.    Alternate Rate of
Interest. In the event, and on each occasion, that on the day two Business Days prior to the commencement of any Interest Period for a Eurodollar Borrowing the Administrative Agent shall have determined that (a) Dollar deposits in the
principal amounts of the Loans comprising such Borrowing are not generally available in the London interbank market, or (b) the rates at 
  

 18 

 which such Dollar deposits are being offered will not adequately and fairly reflect the cost to Lenders having
Commitments representing at least 20% of the Total Commitment of making or maintaining Eurodollar Loans during such Interest Period, or (c) reasonable means do not exist for ascertaining the Eurodollar Rate, the Administrative Agent shall, as soon
as practicable thereafter, give written or telecopy notice of such determination to the Borrower and the Lenders. In the event of any such determination (other than any such determination pursuant to clause (b) of the preceding sentence, to the
extent the circumstances giving rise to such determination would also give Lenders the right to demand additional amounts pursuant to Section 2.13), until the Administrative Agent shall have advised the Borrower and the Lenders that the
circumstances giving rise to such notice no longer exist, (i) any request by the Borrower for a Eurodollar Revolving Credit Borrowing pursuant to Section 2.04 shall be deemed to be a request for an ABR Borrowing and (ii) any request by the Borrower
for a Eurodollar Competitive Borrowing pursuant to Section 2.03 shall be of no force and effect and shall be denied by the Administrative Agent. Each determination by the Administrative Agent hereunder shall be conclusive absent manifest error.

  
 SECTION 2.10.    Termination and
Reduction of Commitments. (a) The Commitments shall automatically terminate on the Maturity Date. 
  
 (b)    Upon at least three Business Days’ prior irrevocable written or telecopy notice to the Administrative Agent, the Borrower
may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Commitments; provided, however, that (i) each partial reduction of the Commitments shall be in an integral multiple of $1,000,000 and
in a minimum amount of $10,000,000 and (ii) the Total Commitment shall not be reduced to an amount that is less than the sum of the Aggregate Revolving Credit Exposure and the aggregate outstanding principal amount of the Competitive Loans at the
time. 
  
 (c)    Each reduction in the
Commitments hereunder shall be made ratably among the Lenders in accordance with their respective Commitments. The Borrower shall pay to the Administrative Agent for the account of the applicable Lenders, on the date of each termination or
reduction, the Facility Fees on the amount of the Commitments so terminated or reduced accrued to but excluding the date of such termination or reduction. 
  
 SECTION 2.11.    Conversion and Continuation of Revolving Credit Borrowings. The Borrower shall have the right at any time upon
prior irrevocable notice to the Administrative Agent (a) not later than 10:00 a.m., New York City time, on the day of conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 10:00 a.m., New York City time, three
Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period, and (c) not later than 10:00 a.m., New
York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Borrowing to another permissible Interest Period, subject in each case to the following: 
  
 (i)    each conversion or continuation shall be made pro
rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; 
  
 (ii)    if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting
Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02(b) regarding the principal amount and maximum number of Borrowings of the relevant Type; 
  

 19 

 (iii)    each conversion shall be effected by each Lender by recording for the
account of such Lender the new Loan of such Lender resulting from such conversion and reducing the Loan (or portion thereof) of such Lender being converted by an equivalent principal amount; accrued interest on any Eurodollar Loan (or portion
thereof) being converted shall be paid by the Borrower at the time of conversion; 
  
 (iv)    if any Eurodollar Borrowing is converted at a time other than the end of the Interest Period applicable thereto, the Borrower shall pay, upon demand, any amounts due to the Lenders pursuant
to Section 2.15; 
  
 (v)    subject to Section
2.05(a), any portion of a Borrowing maturing or required to be repaid in less than one month may not be converted into or continued as a Eurodollar Borrowing; and 
  
 (vi)    any portion of a Eurodollar Borrowing that cannot be converted into or continued as a Eurodollar
Borrowing by reason of the immediately preceding clause shall be automatically converted at the end of the Interest Period in effect for such Borrowing into an ABR Borrowing. 
  
 Each notice pursuant to this Section 2.11 shall be irrevocable and shall refer to this Agreement and specify (i) the
identity and amount of the Borrowing that the Borrower requests be converted or continued, (ii) whether such Borrowing is to be converted into or continued as a Eurodollar Borrowing or an ABR Borrowing, (iii) if such notice requests a conversion,
the date of such conversion (which shall be a Business Day) and (iv) if such Borrowing is to be converted into or continued as a Eurodollar Borrowing, the Interest Period with respect thereto (which, subject to Section 2.05(a), may not end after the
Maturity Date). If no Interest Period is specified in any such notice with respect to any conversion into or continuation as a Eurodollar Borrowing, the Borrower shall be deemed to have selected an Interest Period of one month’s duration. The
Administrative Agent shall advise the other Lenders of any notice given pursuant to this Section 2.11 and of each Lender’s portion of any converted or continued Borrowing. If the Borrower shall not have given notice in accordance with this
Section 2.11 to continue any Borrowing into a subsequent Interest Period (and shall not otherwise have given notice in accordance with this Section 2.11 to convert such Borrowing), such Borrowing shall, at the end of the Interest Period applicable
thereto (unless repaid pursuant to the terms hereof), automatically be continued into a new Interest Period as an ABR Borrowing. The Borrower shall not have the right to continue or convert the Interest Period with respect to any Competitive
Borrowing pursuant to this Section 2.11. 
  
 SECTION
2.12.    Prepayment. (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing (other than a Competitive Borrowing), in whole or in part, upon at least three Business Days’
prior written or telecopy notice (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Agent before 11:00 a.m., New York City time; provided, however, that each partial prepayment shall be in an
amount that is an integral multiple of $1,000,000 and not less than $10,000,000. The Borrower shall not have the right to prepay any Competitive Borrowing without the prior written consent of the relevant Lender. 
  
 (b)    In the event of any termination of the
Commitments, the Borrower shall repay or prepay all its outstanding Revolving Credit Borrowings on the date of such termination. In the event of any partial reduction of the Commitments, then (i) at or prior to the effective date of such reduction,
the Administrative Agent shall notify the Borrower and the Lenders of the Aggregate Revolving Credit Exposure and (ii) if the Aggregate Revolving Credit Exposure would exceed the available Total Commitment after giving effect to such reduction, the
Borrower shall, on the date of such reduction, repay or prepay Revolving Credit Borrowings in an amount sufficient to eliminate such excess. 
  

 20 

 (c)    Each notice of prepayment shall specify the prepayment date and the principal
amount of each Borrowing (or portion thereof) to be prepaid, shall be irrevocable and shall commit the Borrower to prepay such Borrowing by the amount stated therein on the date stated therein. All prepayments under this Section 2.12 shall be
subject to Section 2.15 but otherwise without premium or penalty. All prepayments of Eurodollar Loans under this Section 2.12 shall be accompanied by accrued interest on the principal amount being prepaid to the date of payment. 
  
 SECTION 2.13.    Reserve Requirements; Change in
Circumstances. (a) Notwithstanding any other provision of this Agreement, if after the date of this Agreement the adoption of, or any change in, applicable law or regulation or in the interpretation or administration thereof by any
Governmental Authority charged with the interpretation or administration thereof (whether or not having the force of law) shall impose, modify or deem applicable any reserve, special deposit or similar requirement against assets of, deposits with or
for the account of or credit extended by any Lender or shall impose on such Lender or the London interbank market any other condition affecting this Agreement or Eurodollar Loans or Fixed Rate Loans made by such Lender, and the result of any of the
foregoing shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan or Fixed Rate Loan, or to reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal, interest or otherwise)
by an amount deemed by such Lender to be material, then the Borrower will pay to such Lender upon demand such additional amount or amounts as will compensate such Lender for such additional costs incurred or reduction suffered. 
  
 (b)    If any Lender shall have determined that the
adoption after the date hereof of any law, rule, regulation, agreement or guideline regarding capital adequacy, or any change after the date hereof in any such law, rule, regulation, agreement or guideline (whether such law, rule, regulation,
agreement or guideline has been adopted) or in the interpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, or compliance by any Lender (or any lending office of such Lender)
or any Lender’s holding company with any request or directive regarding capital adequacy (whether or not having the force of law) of any Governmental Authority has or would have the effect of reducing the rate of return on such Lender’s
capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement or the Loans made by such Lender pursuant hereto to a level below that which such Lender or such Lender’s holding company could have
achieved but for such applicability, adoption, change or compliance (taking into consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy) by an amount deemed by such Lender to
be material, then from time to time the Borrower shall pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding company for any such reduction suffered. 
  
 (c)    A certificate of a Lender setting forth the amount
or amounts necessary to compensate such Lender or its holding company (including the calculation thereof) as specified in paragraph (a) or (b) above shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall
pay to such Lender the amount shown as due on any such certificate delivered by it within 10 days after its receipt of the same. 
  
 (d)    Failure or delay on the part of any Lender to demand compensation for any increased costs or reduction in amounts received or
receivable or reduction in return on capital shall not constitute a waiver of such Lender’s right to demand such compensation. The protection of this Section shall be available to each Lender regardless of any possible contention of the
invalidity or inapplicability of the law, rule, regulation, agreement, guideline or other change or condition that shall have occurred or been imposed. Notwithstanding any other provision of this Section, no Lender shall be entitled to demand
compensation hereunder in respect of any Competitive Loan if it shall have been aware of the event or 
  

 21 

 circumstance giving rise to such demand at the time it submitted the Competitive Bid pursuant to which such Loan was
made. 
  
 SECTION 2.14.    Change in
Legality. (a) Notwithstanding any other provision of this Agreement, if, after the date hereof, any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or
interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written notice to the Borrower and to the
Administrative Agent: 
  
 (i)    such Lender
may declare that Eurodollar Loans will not thereafter (for the duration of such unlawfulness) be made by such Lender hereunder (or be continued for additional Interest Periods and ABR Loans will not thereafter (for such duration) be converted into
Eurodollar Loans), whereupon such Lender shall not submit a Competitive Bid in response to a request for a Eurodollar Competitive Loan and any request for a Eurodollar Borrowing (or to convert an ABR Borrowing to a Eurodollar Borrowing or to
continue a Eurodollar Borrowing for an additional Interest Period) shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn (or a request to continue an ABR Loan as such for an
additional Interest Period or to convert a Eurodollar Loan into an ABR Loan, as the case may be); and 
  
 (ii)    such Lender may require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such
Eurodollar Loans shall be automatically converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. 
  
 In the event any Lender shall exercise its rights under (i) or (ii) above, all payments and prepayments of principal that would otherwise have been
applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such
Eurodollar Loans. 
  
 (b)    For purposes of
this Section 2.14, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan made by such Lender, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such
notice shall be effective on the date of receipt by the Borrower. 
  
 SECTION 2.15.    Indemnity. The Borrower shall indemnify each Lender against any loss or expense that such Lender may sustain or incur as a consequence of any event, other than a default by such Lender in the
performance of its obligations hereunder, that results in (i) such Lender receiving or being deemed to receive any amount on account of the principal of any Fixed Rate Loan or Eurodollar Loan prior to the end of the Interest Period in effect
therefor, (ii) the conversion of any Eurodollar Loan to an ABR Loan, or the conversion of the Interest Period with respect to any Eurodollar Loan, in each case prior to the end of the Interest Period in effect therefor or (iii) any Fixed Rate Loan
or Eurodollar Loan to be made by such Lender (including any Eurodollar Loan to be made pursuant to a conversion or continuation under Section 2.11) not being made after notice of such Loan shall have been given by the Borrower hereunder (any of the
events referred to in this sentence being called a “Breakage Event”). In the case of any Breakage Event, such loss shall include an amount equal to the excess, as reasonably determined by such Lender, of (i) its cost of obtaining
funds for the Eurodollar Loan or Fixed Rate Loan that is the subject of such Breakage Event for the period from the date of such Breakage Event to the last day of the Interest Period in effect (or that would have been in effect) for such Loan over
(ii) the amount of interest likely to be realized by such Lender in redeploying the funds released or not utilized by reason 
  

 22 

 of such Breakage Event for such period. A certificate of any Lender setting forth any amount or amounts that such Lender
is entitled to receive pursuant to this Section 2.15 shall be delivered to the Borrower and shall be conclusive absent manifest error. 
  
 SECTION 2.16.    Pro Rata Treatment. Except as provided in the two succeeding sentences with respect to Competitive
Borrowings and as required under Section 2.14, each Borrowing, each payment or prepayment of principal of any Borrowing, each payment of interest on the Loans, each payment of the Facility Fees, each reduction of the Commitments and each
continuation or conversion of any Borrowing to a Borrowing of any Type shall be allocated pro rata among the Lenders in accordance with their respective Commitments (or, if such Commitments shall have expired or been terminated, in accordance with
the respective principal amounts of their outstanding Loans). Each payment of principal of any Competitive Borrowing shall be allocated pro rata among the Lenders participating in such Borrowing in accordance with the respective principal amounts of
their outstanding Competitive Loans comprising such Borrowing. Each payment of interest on any Competitive Borrowing shall be allocated pro rata among the Lenders participating in such Borrowing in accordance with the respective amounts of accrued
and unpaid interest on their outstanding Competitive Loans comprising such Borrowing. For purposes of determining the available Commitments of the Lenders at any time, each outstanding Competitive Borrowing shall be deemed to have utilized the
Commitments of the Lenders (including those Lenders that shall not have made Loans as part of such Competitive Borrowing) pro rata in accordance with such respective Commitments. Each Lender agrees that in computing such Lender’s portion of any
Borrowing to be made hereunder, the Administrative Agent may, in its discretion, round each Lender’s percentage of such Borrowing to the next higher or lower whole Dollar amount. 
  
 SECTION 2.17.    Sharing of Setoffs. Each Lender agrees that if it shall, through the
exercise of a right of banker’s lien, setoff or counterclaim against the Borrower, or pursuant to a secured claim under Section 506 of Title 11 of the United States Code or other security or interest arising from, or in lieu of, such secured
claim, received by such Lender under any applicable bankruptcy, insolvency or other similar law or otherwise, or by any other means, obtain payment (voluntary or involuntary) in respect of any Revolving Loan or Loans as a result of which the unpaid
principal portion of its Revolving Loans shall be proportionately less than the unpaid principal portion of the Revolving Loans of any other Lender, it shall be deemed simultaneously to have purchased from such other Lender at face value, and shall
promptly pay to such other Lender the purchase price for, a participation in the Revolving Loans of such other Lender, so that the aggregate unpaid principal amount of the Revolving Loans and participations in Revolving Loans held by each Lender
shall be in the same proportion to the aggregate unpaid principal amount of all Revolving Loans then outstanding as the principal amount of its Revolving Loans prior to such exercise of banker’s lien, setoff or counterclaim or other event was
to the principal amount of all Revolving Loans outstanding prior to such exercise of banker’s lien, setoff or counterclaim or other event; provided, however, that, if any such purchase or purchases or adjustments shall be made
pursuant to this Section and the payment giving rise thereto shall thereafter be recovered, such purchase or purchases or adjustments shall be rescinded to the extent of such recovery and the purchase price or prices or adjustment restored without
interest. The Borrower expressly consents to the foregoing arrangements and agrees that any Lender holding a participation in a Revolving Loan deemed to have been so purchased may exercise any and all rights of banker’s lien, setoff or
counterclaim with respect to any and all moneys owing by the Borrower to such Lender by reason thereof as fully as if such Lender had made a Revolving Loan directly to the Borrower in the amount of such participation. 
  
 SECTION 2.18.    Payments. (a) The Borrower
shall make each payment (including principal of or interest on any Borrowing or any Fees or other amounts) hereunder not later than 12:00 (noon), New York City time, on the date when due in immediately available Dollars, without defense, setoff or
counterclaim. Each such payment shall be made to the Administrative Agent at its offices at 270 Park Avenue, New York, New York. 
  

 23 

 (b)    Whenever any payment (including principal of or interest on any Borrowing or
any Fees or other amounts) hereunder shall become due, or otherwise would occur, on a day that is not a Business Day, such payment may be made on the next succeeding Business Day, and such extension of time shall in such case be included in the
computation of interest or Fees, if applicable. 
  
 SECTION
2.19.    Taxes. (a) Any and all payments by the Borrower hereunder shall be made, in accordance with Section 2.18, free and clear of and without deduction for any and all current or future taxes, levies, imposts,
deductions, charges or withholdings, and all liabilities with respect thereto, excluding (i) income taxes imposed on the net income of the Administrative Agent or any Lender (or any transferee or assignee thereof, including a participation
holder (any such entity a “Transferee”)) and (ii) franchise taxes imposed on the net income of the Administrative Agent or any Lender (or Transferee), in each case by the jurisdiction under the laws of which the Administrative Agent
or such Lender (or Transferee) is organized or any political subdivision thereof (all such nonexcluded taxes, levies, imposts, deductions, charges, withholdings and liabilities, collectively or individually, being called “Taxes”).
If the Borrower shall be required to deduct any Taxes from or in respect of any sum payable hereunder to the Administrative Agent or any Lender (or any Transferee), (i) the sum payable shall be increased by the amount (an “additional
amount”) necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.19) the Administrative Agent or such Lender (or Transferee), as the case may be, shall receive
an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower shall make such deductions and (iii) the Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with
applicable law. 
  
 (b)    In addition, the
Borrower agrees to pay to the relevant Governmental Authority in accordance with applicable law any current or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies that arise from any payment made
hereunder or from the execution, delivery or registration of, or otherwise with respect to, this Agreement (“Other Taxes”). 
  
 (c)    The Borrower will indemnify the Administrative Agent and each Lender (or Transferee) for the full amount of Taxes and Other
Taxes paid by the Administrative Agent or such Lender (or Transferee), as the case may be, and any liability (including penalties, interest and expenses (including reasonable attorney’s fees and expenses)) arising therefrom or with respect
thereto, whether or not such Taxes or Other Taxes were correctly or legally asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability prepared by the Administrative Agent or a Lender (or
Transferee), or the Administrative Agent on its behalf, absent manifest error, shall be final, conclusive and binding for all purposes. Such indemnification shall be made within 30 days after the date the Administrative Agent or any Lender (or
Transferee), as the case may be, makes written demand therefor. 
  
 (d)    If the Administrative Agent or a Lender (or Transferee) receives a refund in respect of any Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid
additional amounts pursuant to this Section 2.19, it shall within 30 days from the date of such receipt pay over such refund to the Borrower (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this
Section 2.19 with respect to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent or such Lender (or Transferee) and without interest (other than interest paid by the relevant
Governmental Authority with respect to such refund); provided, however, that the Borrower, upon the request of the Administrative Agent or such Lender (or Transferee), shall repay the amount paid over to the Borrower (plus penalties,
interest or other charges) to the Administrative Agent or such Lender (or Transferee) in the event the Administrative Agent or such Lender (or Transferee) is required to repay such refund to such Governmental Authority. 
  

 24 

 (e)    As soon as practicable after the date of any payment of Taxes or Other Taxes
by the Borrower to the relevant Governmental Authority, the Borrower will deliver to the Administrative Agent, at its address referred to in Section 10.01, the original or a certified copy of a receipt issued by such Governmental Authority
evidencing payment thereof. 
  
 (f)    Without
prejudice to the survival of any other agreement contained herein, the agreements and obligations contained in this Section 2.19 shall survive the payment in full of the principal of and interest on all Loans made hereunder. 
  
 (g)    Each Lender (or Transferee) that is organized
under the laws of a jurisdiction other than the United States, any State thereof or the District of Columbia (a “Non-U.S. Lender”) shall deliver to each of the Borrower and the Administrative Agent two copies of either United States
Internal Revenue Service Form W-8BEN or Form W-8ECI, or, in the case of a Non-U.S. Lender claiming exemption from U.S. Federal withholding tax under Section 871(h) or 881(c) of the Code with respect to payments of “portfolio interest”, a
Form W-8BEN, or any subsequent versions thereof or successors thereto (and, if such Non-U.S. Lender delivers a Form W-8BEN, a certificate representing that such Non-U.S. Lender is not a bank for purposes of Section 881(c) of the Code, is not a
10-percent shareholder (within the meaning of Section 871(h)(3)(B) of the Code) of the Borrower and is not a controlled foreign corporation related to the Borrower (within the meaning of Section 864(d)(4) of the Code)), properly completed and duly
executed by such Non-U.S. Lender claiming complete exemption from, or reduced rate of, U.S. Federal withholding tax on payments by the Borrower under this Agreement. Such forms shall be delivered by each Non-U.S. Lender on or before the date it
becomes a party to this Agreement (or, in the case of a Transferee that is a participation holder, on or before the date such participation holder becomes a Transferee hereunder) and on or before the date, if any, such Non-U.S. Lender changes its
applicable lending office by designating a different lending office (a “New Lending Office”). In addition, each Non-U.S. Lender shall deliver such forms promptly upon the obsolescence or invalidity of any form previously delivered
by such Non-U.S. Lender. Notwithstanding any other provision of this Section 2.19(g), a Non-U.S. Lender shall not be required to deliver any form pursuant to this Section 2.19(g) that such Non-U.S. Lender is not legally able to deliver. 

 
 (h)    The Borrower shall not be required to indemnify
any Non-U.S. Lender or to pay any additional amounts to any Non-U.S. Lender, in respect of United States Federal withholding tax pursuant to paragraph (a) or (c) above to the extent that (i) the obligation to withhold amounts with respect to United
States Federal withholding tax existed under applicable laws and regulations on the date such Non-U.S. Lender became a party to this Agreement (or, in the case of a Transferee that is a participation holder, on the date such participation holder
became a Transferee hereunder) or, with respect to payments to a New Lending Office, the date such Non-U.S. Lender designated such New Lending Office with respect to a Loan; provided, however, that this paragraph (h) shall not apply
(x) to any Transferee or New Lending Office that becomes a Transferee or New Lending Office as a result of an assignment, participation, transfer or designation made at the request of the Borrower and (y) to the extent the indemnity payment or
additional amounts any Transferee, or any Lender (or Transferee), acting through a New Lending Office, would be entitled to receive (without regard to this paragraph (h)) do not exceed the indemnity payment or additional amounts that the person
making the assignment, participation or transfer to such Transferee, or Lender (or Transferee) making the designation of such New Lending Office, would have been entitled to receive in the absence of such assignment, participation, transfer or
designation or (ii) the obligation to pay such additional amounts would not have arisen but for a failure by such Non-U.S. Lender to comply with the provisions of paragraph (g) above. 
  
 (i)    Nothing contained in this Section 2.19 shall require any Lender (or any Transferee) or the
Administrative Agent to make available any of its tax returns (or any other information that it deems to be confidential or proprietary). 
  

 25 

 SECTION 2.20.    Assignment of Commitments Under Certain Circumstances; Duty to
Mitigate. (a) In the event (i) any Lender delivers a certificate requesting compensation pursuant to Section 2.13, (ii) any Lender delivers a notice described in Section 2.14 or (iii) the Borrower is required to pay any additional amount
to any Lender or any Governmental Authority on account of any Lender pursuant to Section 2.19, the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to transfer and assign,
without recourse (in accordance with and subject to the restrictions contained in Section 10.04), all of its interests, rights and obligations under this Agreement to an assignee which shall assume such assigned obligations (which assignee may be
another Lender, if a Lender accepts such assignment); provided that (x) such assignment shall not conflict with any law, rule or regulation or order of any court or other Governmental Authority having jurisdiction, (y) the Borrower shall have
received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld, and (z) the Borrower or such assignee shall have paid to the affected Lender in immediately available funds an amount equal to the sum
of the principal of and interest accrued to the date of such payment on the outstanding Loans of such Lender plus all Fees and other amounts accrued for the account of such Lender hereunder (including any amounts under Section 2.13 and Section
2.15); provided further that if prior to any such transfer and assignment the circumstances or event that resulted in such Lender’s claim for compensation under Section 2.13 or notice under Section 2.14 or the amounts paid pursuant to
Section 2.19, as the case may be, cease to cause such Lender to suffer increased costs or reductions in amounts received or receivable or reduction in return on capital, or cease to have the consequences specified in Section 2.14, or cease to result
in amounts being payable under Section 2.19, as the case may be (including as a result of any action taken by such Lender pursuant to paragraph (b) below), or if such Lender shall waive its right to claim further compensation under Section 2.13 in
respect of such circumstances or event or shall withdraw its notice under Section 2.14 or shall waive its right to further payments under Section 2.19 in respect of such circumstances or event, as the case may be, then such Lender shall not
thereafter be required to make any such transfer and assignment hereunder. 
  
 (b)    If (i) any Lender shall request compensation under Section 2.13, (ii) any Lender delivers a notice described in Section 2.14 or (iii) the Borrower is required to pay any additional amount to
any Lender or any Governmental Authority on account of any Lender, pursuant to Section 2.19, then, such Lender shall use reasonable efforts (which shall not require such Lender to incur an unreimbursed loss or unreimbursed cost or expense or
otherwise take any action inconsistent with its internal policies or legal or regulatory restrictions or suffer any disadvantage or burden deemed by it to be significant) (x) to file any certificate or document reasonably requested in writing by the
Borrower or (y) to assign its rights and delegate and transfer its obligations hereunder to another of its offices, branches or affiliates, if such filing or assignment would reduce its claims for compensation under Section 2.13 or enable it to
withdraw its notice pursuant to Section 2.14 or would reduce amounts payable pursuant to Section 2.19, as the case may be, in the future. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with
any such filing, assignment, delegation and transfer. 
  
 ARTICLE
III  
  
 Representations And Warranties

  
 To induce the Administrative Agent and the Lenders to enter
into this Agreement and to make the Loans, the Borrower represents and warrants to the Administrative Agent and each of the Lenders that: 
  
 SECTION 3.01.    Organization; Powers. The Borrower and each of the Significant Subsidiaries (a) is a corporation or limited
liability company duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (b) has all requisite power and authority to own its property and assets and to carry on its business as now conducted
and as proposed to be 
  

 26 

 conducted and (c) is qualified to do business in, and is in good standing in, every jurisdiction where such qualification
is required, except where the failure so to qualify could not reasonably be expected to result in a Material Adverse Effect. The Borrower has the corporate power and authority to execute, deliver and perform its obligations under this Agreement and
to borrow hereunder. Schedule 3.01 sets forth each Significant Subsidiary of the Borrower in existence on the Closing Date. 
  
 SECTION 3.02.    Authorization. The execution, delivery and performance by the Borrower of this Agreement and the
borrowings hereunder (collectively, the “Transactions”) (a) have been duly authorized by all requisite corporate and, if required, stockholder action and (b) will not (i) violate (A) any provision of law, statute, rule or
regulation, or of the certificate or articles of incorporation or other constitutive documents or by-laws of the Borrower or any Significant Subsidiary, (B) any order of any Governmental Authority or (C) any material provision of any material
indenture, agreement or other instrument to which the Borrower or any Significant Subsidiary is a party or by which any of them or any of their property is or may be bound, (ii) be in material conflict with, result in a material breach of or
constitute (alone or with notice or lapse of time or both) a material default under, or give rise to any right to accelerate or to require the prepayment, repurchase or redemption of any obligation under any such material indenture, agreement or
other instrument or (iii) result in the creation or imposition of any Lien upon or with respect to any property or assets now owned or hereafter acquired by the Borrower or any Significant Subsidiary. 
  
 SECTION 3.03.    Enforceability. This
Agreement has been duly executed and delivered by the Borrower and constitutes a legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with its terms. 
  
 SECTION 3.04.    Governmental Approvals. No
action, consent or approval of, registration or filing with or any other action by any Governmental Authority is or will be required in connection with the Transactions, except those which have been made or obtained. 
  
 SECTION 3.05.    Financial Statements. The
Borrower has heretofore furnished to the Lenders the consolidated balance sheet, statement of income and statement of cash flows of the Borrower and its Subsidiaries as of and for the fiscal year ended December 31, 2002, audited by and accompanied
by the opinion of PricewaterhouseCoopers LLP, independent public accountants. Such financial statements present fairly the financial condition and results of operations of the Borrower and its Subsidiaries as of such date and for such period and
were prepared in accordance with GAAP applied on a consistent basis. The unaudited consolidated balance sheet of the Borrower and its Subsidiaries as at March 30, 2003, June 29, 2003 and September 28, 2003, and the related unaudited consolidated
statements of income and cash flows for the three-month periods ended on such dates, present fairly the consolidated financial condition of the Borrower and its Subsidiaries as at such dates, and the consolidated results of its operations and its
consolidated cash flows for the three-month periods then ended (subject to normal year-end audit adjustments). All such financial statements, including the related schedules and notes thereto, have been prepared in accordance with GAAP applied
consistently throughout the periods involved (except as disclosed therein). Such financial statements and the notes thereto, and Schedule 3.05, when taken together, disclose all material liabilities, direct or contingent, of the Borrower and
its consolidated Subsidiaries as of the date thereof. 
  
 SECTION
3.06.    No Material Adverse Change. There has been no material adverse change in the business, assets, operations or condition, financial or otherwise, of the Borrower and the Subsidiaries, taken as a whole, since
December 31, 2002. 
  
 SECTION
3.07.    Litigation; Compliance with Laws. (a) Except as set forth on Schedule 3.07, there are not any actions, suits or proceedings at law or in equity or by or before any Governmental 
  

 27 

 Authority now pending or, to the knowledge of the Borrower, threatened against or affecting the Borrower or any
Subsidiary or any business, property or rights of any such person (i) that involve this Agreement or the Transactions or (ii) as to which there is a reasonable possibility of an adverse determination and that, if adversely determined, could
reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect. 
  
 (b)    None of the Borrower or any of the Subsidiaries or any of their respective material properties or assets is in violation of,
nor will the continued operation of their material properties and assets as currently conducted violate, any law, rule or regulation, or is in default with respect to any judgment, writ, injunction, decree or order of any Governmental Authority
(including any of the foregoing relating to the environment), where such violation or default could reasonably be expected to result in a Material Adverse Effect. 
  
 SECTION 3.08.    Federal Reserve Regulations. (a) Neither the Borrower nor any of the
Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of buying or carrying Margin Stock. 
  
 (b)    No part of the proceeds of any Loan will be used, whether directly or indirectly, and whether
immediately, incidentally or ultimately for any purpose that entails a violation of, or that is inconsistent with, the provisions of the Regulations of the Board, including Regulation U or X. Margin Stocks do not constitute 25% or more of the fair
market value of the assets of the Borrower and the Subsidiaries subject to the restrictions of Section 6.01. 
  
 SECTION 3.09.    Investment Company Act; Public Utility Holding Company Act. Neither the Borrower nor any Subsidiary is
(a) an “investment company”, or a company “controlled” by an “investment company”, as defined in, or subject to regulation under, the Investment Company Act of 1940 or (b) a “holding company” as defined in, or
subject to regulation under, the Public Utility Holding Company Act of 1935. 
  
 SECTION 3.10.    Tax Returns. Each of the Borrower and the Subsidiaries has filed or caused to be filed all Federal and all material state, local and foreign tax returns or materials
required to have been filed by it and has paid or caused to be paid all taxes shown to be due and payable by it on such returns and all assessments received by it, except taxes that are being contested in good faith by appropriate proceedings and
for which the Borrower or such Subsidiaries, as applicable, shall have set aside on its books adequate reserves in accordance with GAAP. 
  
 SECTION 3.11.    No Material Misstatements. Neither (a) the Confidential Information Memorandum nor (b) any other
information, report, financial statement, exhibit or schedule furnished in writing by or on behalf of the Borrower to the Administrative Agent or any Lender in connection with the negotiation of this Agreement or included herein or delivered
pursuant hereto contained, contains or will contain any material misstatement of fact or omitted, omits or will omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were, are or
will be made, not misleading; provided that to the extent any such information, report, financial statement, exhibit or schedule was based upon or constitutes a forecast or projection, the Borrower represents only that it acted in good faith
and utilized reasonable assumptions and due care in the preparation of such information, report, financial statement, exhibit or schedule. 
  
 SECTION 3.12.    Employee Benefit Plans. Each of the Borrower and its ERISA Affiliates is in compliance in all material
respects with the applicable provisions of ERISA and the Code and the regulations and published interpretations thereunder. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events,
could reasonably be 
  

 28 

 expected to result in a Material Adverse Effect. The present value of all benefit liabilities under all Plans (based on
those assumptions used to fund each such Plan) did not, as of January 1, 2002, the last certified annual valuation date before the Closing Date, exceed the fair market value of the assets of all Plans as of such date, and the present value of all
benefit liabilities of all underfunded Plans (based on those assumptions used to fund each such Plan) did not, as of the last certified annual valuation dates applicable thereto before the Closing Date, exceed by more than $280 million the fair
market value of the assets of all such underfunded Plans as of such dates. 
  
 SECTION 3.13.    No Default. Neither the Borrower nor any Subsidiary is in default under or with respect to any of its Contractual Obligations in any respect that has had or would reasonably
be expected to have a Material Adverse Effect. No Default or Event of Default has occurred and is continuing. 
  
 SECTION 3.14.    Ownership of Property; Liens; Insurance. The Borrower and each of its Significant Subsidiaries has title in
fee simple to, or a valid leasehold interest in, all its material real property, and good title to, or a valid leasehold interest in, all its other material property, and none of such property is subject to any Lien except as permitted by Section
6.01. The Borrower and each of its Subsidiaries maintains with financially sound and reputable insurance companies insurance on all its property in at least such amounts and against at least such risks (but including in any event public liability,
product liability and business interruption) as are usually insured against in the same general area by companies engaged in the same or a similar business, provided that nothing in this Section 3.14 shall preclude the Borrower or any
Subsidiary from being self-insured (to the extent deemed prudent by the Borrower or such Subsidiary and customary with companies in the same or similar business). 
  
 SECTION 3.15.    Intellectual Property. The Borrower and each of its Subsidiaries owns, is
licensed to use or otherwise has the right to use all Intellectual Property necessary for the conduct of its business as currently conducted, except where the failure of the Borrower and its Subsidiaries to have any such rights has had or would
reasonably be expected to have a Material Adverse Effect. To the knowledge of the Borrower, no material claim that would reasonably be expected to have a Material Adverse Effect if adversely decided, has been asserted and is currently active and
pending by any person (i) alleging that the business of the Borrower or its Subsidiaries as currently conducted infringes the Intellectual Property rights of a third party or (ii) challenging or questioning the use of any Intellectual Property of
the Borrower or its Subsidiaries or the validity or effectiveness of any Intellectual Property of the Borrower or its Subsidiaries. Except for such activities as may be subject to authorization and consent pursuant to 28 U.S.C. Section 1498 or
substantially equivalent law or regulation, to the Borrower’s knowledge, the operation of the businesses of the Borrower and its Subsidiaries as currently conducted do not infringe any valid and enforceable Intellectual Property rights of any
third party where a finding of such infringement would reasonably be expected to have a Material Adverse Effect. 
  
 SECTION 3.16.    Labor Matters. Except as, in the aggregate, has not had or would not reasonably be expected to have a Material
Adverse Effect: (a) there are no strikes or other labor disputes against the Borrower or any of its Subsidiaries pending or, to the knowledge of the Borrower, threatened; (b) hours worked by and payment made to employees of the Borrower and each of
its Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable law or regulation dealing with such matters; and (c) all payments due from the Borrower or any of its Subsidiaries on account of employee health and
welfare insurance have been paid or accrued as a liability on the books of the Borrower or the relevant Subsidiary, as applicable. 
  
 SECTION 3.17.    Environmental Matters. Except as, in the aggregate, has not had or would not reasonably be expected to have a
Material Adverse Effect: 
  

 29 

 (a)    the facilities and properties owned, leased or operated by the Borrower or any
Subsidiary (the “Properties”) do not contain, and have not previously contained, any Materials of Environmental Concern in amounts or concentrations or under circumstances that constitute or constituted a violation of, or could give
rise to liability under, any Environmental Law; 
  
 (b)    neither the Borrower nor any Subsidiary has received or is aware of any notice of violation, alleged violation, non-compliance, liability or potential liability regarding environmental matters or compliance with
Environmental Laws with regard to any of the Properties or the business operated by the Borrower or any Subsidiary (the “Business”), nor does any Responsible Officer of the Borrower have actual knowledge or a reasonable basis to
believe that any such notice will be received or is being threatened; 
  
 (c)    Materials of Environmental Concern have not been transported or disposed of from the Properties in violation of, or in a manner or to a location that could give rise to liability under, any Environmental Law, nor
have any Materials of Environmental Concern been generated, treated, stored or disposed of at, on or under any of the Properties in violation of, or in a manner that could give rise to liability under, any applicable Environmental Law; 

 
 (d)    no judicial proceeding or governmental or
administrative action is pending or, to the knowledge of any Responsible Officer of the Borrower, threatened, under any Environmental Law to which the Borrower or any Subsidiary is or will be named as a party with respect to the Properties or the
Business, nor are there any consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or judicial requirements outstanding under any Environmental Law with respect to the Properties or the
Business; 
  
 (e)    there has been no release
or threat of release of Materials of Environmental Concern at or from the Properties, or arising from or related to the operations of the Borrower or any Subsidiary in connection with the Properties or otherwise in connection with the Business, in
violation of or in amounts or in a manner that could give rise to liability under Environmental Laws; 
  
 (f)    the Properties and all operations at the Properties are in compliance, and have in the last five years been in compliance, with
all applicable Environmental Laws, and there is no contamination at, under or about the Properties or violation of any Environmental Law with respect to the Properties or the Business; and 
  
 (g)    neither the Borrower nor any Subsidiary has
assumed any liability of any other person under Environmental Laws. 
  
 SECTION 3.18.    Solvency. The Borrower is, and after giving effect to the incurrence of all Indebtedness and obligations being incurred in connection herewith will be and will continue to be, Solvent. 

 
 ARTICLE IV 
  
 Conditions Of Effectiveness and Lending  
  
 The obligations of the Lenders to make Loans (including the initial Borrowing) hereunder are subject to the satisfaction of
the following conditions: 
  
 SECTION
4.01.    All Borrowings. On the date of each Borrowing (other than, in the case of paragraph (b) below, a Borrowing that does not increase the aggregate principal amount of Loans 
  

 30 

 outstanding of any Lender) and on the date of the conversion of Revolving Loans to Term-out Loans in accordance with
Section 2.05(a): 
  
 (a)    The Administrative
Agent shall have received a notice of such Borrowing as required by Section 2.03 or 2.04, as applicable, or conversion as required by Section 2.05, as the case may be. 
  
 (b)    The representations and warranties set forth in Article III hereof shall be true and correct in
all material respects on and as of the date of such Borrowing or conversion, as the case may be, with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier
date. 
  
 (c)    At the time of and
immediately after such Borrowing or conversion, as the case may be, no Event of Default or Default shall have occurred and be continuing. 
  
 Each Borrowing and the conversion of Revolving Loans to Term-out Loans pursuant to Section 2.05(a) by the Borrower shall be deemed to constitute a
representation and warranty by the Borrower on the date of such Borrowing or conversion as to the matters specified in paragraphs (b) (except as aforesaid) and (c) of this Section 4.01. 
  
 SECTION 4.02.    Effectiveness. On the date of effectiveness (which may or may not be the
date of the initial Borrowing): 
  
 (a)    Credit Agreement. The Administrative Agent shall have received this Agreement, executed and delivered by the Administrative Agent, the Borrower, each Guarantor and each person listed on Schedule
2.01. 
  
 (b)    Legal Opinions.
The Administrative Agent shall have received, on behalf of itself and the Lenders and the Agents, the favorable written opinions of (i) Jay B. Stephens, Senior Vice President, Secretary and General Counsel of the Borrower and other appropriate
in-house counsel with respect to the Guarantors and (ii) Bingham McCutchen LLP, special counsel for the Borrower, substantially to the effect set forth in Exhibits E and F, respectively, each (A) dated the date of the initial Borrowing, (B)
addressed to the Administrative Agent, the Lenders and the Agents, and (C) covering such other matters relating to this Agreement and the transactions contemplated hereby as the Administrative Agent and the Syndication Agent may reasonably request
as a result of any change in law or regulation after the Closing Date relating to such transactions or any material change in facts previously disclosed to the Lenders, or disclosure of facts not previously disclosed to the Lenders, and the Borrower
hereby requests such counsel deliver such opinions. 
  
 (c)    Legal Matters. All legal matters incident to this Agreement, the Borrowings and extensions of credit hereunder shall be reasonably satisfactory to the Lenders and to Simpson Thacher & Bartlett, counsel
for the Administrative Agent and the Syndication Agent. 
  
 (d)    Closing Certificates. The Administrative Agent and the Syndication Agent shall have received (i) a copy of the certificate of incorporation, including all amendments thereto, of the Borrower and each
Guarantor, each certified by the relevant authority of the jurisdiction of organization, and a certificate as to the good standing of the Borrower and each Guarantor as of a recent date, from such relevant authority; (ii) a certificate of the
Secretary or Assistant Secretary of the Borrower and each Guarantor, each dated the Closing Date and certifying (A) that attached thereto is a true and complete copy of the by-laws of the Borrower or the relevant Guarantor, as 
  

 31 

 applicable, as in effect on the Closing Date and at all times since a date prior to the date of the resolutions described
in clause (B) below, (B) that attached thereto is a true and complete copy of resolutions duly adopted by the Board of Directors of the Borrower or the relevant Guarantor, as applicable, authorizing the execution, delivery and performance of this
Agreement and, in the case of the Borrower, the borrowings hereunder, and that such resolutions have not been modified, rescinded or amended and are in full force and effect, (C) that the certificate of incorporation of the Borrower or the relevant
Guarantor, as applicable, has not been amended since the date of the last amendment thereto shown on the certificate of good standing furnished pursuant to clause (i) above, and (D) as to the incumbency and specimen signature of each officer
executing this Agreement or any other document delivered in connection herewith on behalf of the Borrower or the relevant Guarantor, as applicable; (iii) a certificate of another officer of the Borrower or the relevant Guarantor, as applicable, as
to the incumbency and specimen signature of the Secretary or Assistant Secretary executing the certificate pursuant to (ii) above; and (iv) such other documents as the Lenders or Simpson Thacher & Bartlett, counsel for the Administrative Agent
and the Syndication Agent, may reasonably request. 
  
 (e)    Financial Officer’s Certificate. The Administrative Agent and the Syndication Agent shall each have received (i) a certificate, dated the date of the initial Borrowing and signed by a Financial Officer
of the Borrower, confirming compliance with the conditions precedent set forth in paragraphs (b) and (c) of Section 4.01 and (ii) a Ratio Certificate, setting forth the calculations, in reasonable detail, required to determine compliance with all
covenants set forth in Sections 6.05(a) and (b) on the Closing Date and on the date of the initial Borrowing. 
  
 (f)    Fees and Expenses. The Administrative Agent and the other Agents and their Affiliates shall have received all Fees and
other amounts due and payable on or prior to the Closing Date, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrower hereunder. 
  
 (g)    Existing Credit Agreement. The Existing
Credit Agreement shall have been terminated and the outstanding loans thereunder and accrued interest thereon and accrued and unpaid commitment fees owed thereunder shall have been paid in full. 
  
 ARTICLE V 
  
 Affirmative Covenants 
  

The Borrower covenants and agrees with each Lender that so long as this Agreement shall remain in effect and until the Commitments have been terminated
and the principal of and interest on each Loan, all Fees and all other expenses or amounts payable under this Agreement shall have been paid in full, unless the Required Lenders shall otherwise consent in writing, the Borrower will, and will cause
each of the Subsidiaries to: 
  
 SECTION
5.01.    Existence; Businesses and Properties. In the case of the Borrower and the Significant Subsidiaries: 
  
 (a)    do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights and
franchises, except as otherwise expressly permitted under Section 6.03; 
  
 (b)    comply in all material respects with all applicable laws, rules, regulations and decrees and orders of any Governmental Authority, whether now in effect or hereafter enacted; 
  

 32 

 and at all times maintain, preserve and protect all property material to the conduct of its business; and 
  
 (c)    comply with all Contractual Obligations except to
the extent that failure to comply therewith, in the aggregate, has not had or would not reasonably be expected to have a Material Adverse Effect. 
  
 SECTION 5.02.    Insurance. Keep its insurable properties adequately insured at all times by financially sound and reputable
insurers; and maintain such other insurance, to such extent and against such risks, including fire and other risks insured against by extended coverage, as is customary with companies in the same or similar businesses, provided that nothing
in this Section 5.02 shall preclude the Borrower or any Subsidiary from being self-insured (to the extent deemed prudent by the Borrower or such Subsidiary and customary with companies in the same or similar business). 
  
 SECTION 5.03.    Payment of Obligations;
Taxes. (a) Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material obligations (which, with respect to payment obligations, shall be any obligation of $50,000,000 or
greater) of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and adequate reserves with respect thereto shall, to the extent required by GAAP, have been set aside; and

  
 (b)    Pay and discharge promptly when due
all material taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials
and supplies or otherwise that, if unpaid, might give rise to a Lien upon such properties or any part thereof unless and to the extent the same are being contested in good faith by appropriate proceedings and adequate reserves with respect thereto
shall, to the extent required by GAAP, have been set aside. 
  
 SECTION 5.04.    Financial Statements, Reports, etc. In the case of the Borrower, furnish to the Administrative Agent and each Lender: 
  
 (a)    within 90 days after the end of each fiscal year, a consolidated balance sheet, statement of
income and statement of cash flows showing the financial condition and results of operations of the Borrower and its consolidated Subsidiaries as of and for the fiscal year then ended, all audited by PricewaterhouseCoopers LLP or other independent
public accountants of recognized national standing and accompanied by an opinion of such accountants (which shall not be qualified in any material respect) to the effect that such consolidated financial statements fairly present the financial
condition and results of operations of the Borrower and its consolidated Subsidiaries, as the case may be, on a consolidated basis in accordance with GAAP; 
  
 (b)    within 45 days after the end of each of the first three fiscal quarters of each fiscal year, a consolidated balance sheet,
statement of income and statement of cash flows showing the financial condition and results of operations of the Borrower and its consolidated Subsidiaries as of and for the fiscal quarter then ended and the then elapsed portion of the fiscal year,
all certified by a Financial Officer of the Borrower as fairly presenting the financial condition and results of operations of the Borrower, as the case may be, on a consolidated basis in accordance with GAAP, subject to normal year-end audit
adjustments; 
  
 (c)    concurrently with any
delivery of financial statements under paragraph (a) or (b) above, (i) a Ratio Certificate and (ii) a certificate of a Financial Officer of the Borrower certifying that no Event of Default or Default has occurred or, if such an Event of Default or
Default has 
  

 33 

 occurred, specifying the nature and extent thereof and any corrective action taken or proposed to be taken with respect
thereto; 
  
 (d)    promptly, after their
becoming available, copies of all financial statements, stockholders reports and proxy statements that the Borrower shall have sent to its stockholders generally, and copies of all registration statements filed by the Borrower under the Securities
Act of 1933, as amended (other than registration statements on Form S-8 or any registration statement filed in connection with a dividend reinvestment plan), and regular and periodic reports, if any, which the Borrower shall have filed with the
Securities and Exchange Commission (or any governmental agency or agencies substituted therefor) under Section 13 or Section 15(d) of the Securities and Exchange Act of 1934, as amended, or with any national securities exchange (other than those on
Form 11-K or any successor form); provided, that documents required to be delivered under this clause (d) which are made available on the internet via the EDGAR, or any successor, system of the Securities and Exchange Commission shall be
deemed delivered; and 
  
 (e)    promptly,
from time to time, such other information regarding the Borrower or any Significant Subsidiary (including the operations, business affairs and financial condition of the Borrower or any Significant Subsidiary), or compliance with the terms of this
Agreement, as the Administrative Agent or any Lender may reasonably request. 
  
 SECTION 5.05.    Litigation and Other Notices. Promptly upon any Responsible Officer of the Borrower obtaining knowledge of any of the following, furnish to the Administrative Agent
and each Lender written notice of the following: 
  
 (a)    any Event of Default or Default, specifying the nature and extent thereof and the corrective action (if any) taken or proposed to be taken with respect thereto; 
  
 (b)    the filing or commencement of, or any notice of
intention of any person to file or commence, any action, suit or proceeding, whether at law or in equity or by or before any Governmental Authority, against the Borrower or any Affiliate thereof that could reasonably be expected to result in a
Material Adverse Effect or materially impair the Borrower’s ability to perform its obligations under this Agreement; 
  
 (c)    any change in the ratings by S&P or Moody’s of the Index Debt; and 
  
 (d)    any development that has resulted in, or could
reasonably be expected to result in, a Material Adverse Effect. 
  
 SECTION 5.06.    Employee Benefits. (a) Comply in all material respects with the applicable provisions of ERISA and the Code and (b) furnish to the Administrative Agent and each Lender as soon as possible
after, and in any event within 30 days after any Responsible Officer of the Borrower or any ERISA Affiliate knows that, any ERISA Event has occurred that, alone or together with any other ERISA Event known to have occurred, could reasonably be
expected to result in liability of the Borrower in an aggregate amount exceeding $75,000,000 in any year, a statement of a Financial Officer of the Borrower setting forth details as to such ERISA Event and the action, if any, that the Borrower
proposes to take with respect thereto 
  
 SECTION
5.07.    Maintaining Records; Access to Properties and Inspections. Maintain financial records in accordance with GAAP and, upon reasonable notice, permit any representatives designated by the Administrative Agent
or any Lender to visit and inspect the financial records and the properties of the Borrower or any Significant Subsidiary during normal business hours and to discuss the 
  

 34 

 affairs, finances and condition of the Borrower or any Significant Subsidiary with the officers thereof and independent
accountants therefor. 
  
 SECTION
5.08.    Use of Proceeds. Use the proceeds of the Loans only for the purposes set forth in the preamble to this Agreement. 
  
 SECTION 5.09.    Environmental Laws. Except as, in the aggregate, has not had or would not reasonably be expected to have a
Material Adverse Effect: 
  
 (a)    Comply in
all material respects with, and undertake all reasonable efforts to ensure compliance in all material respects by all tenants and subtenants, if any, with, all applicable Environmental Laws, and obtain and comply in all material respects with and
maintain, and ensure that all tenants and subtenants obtain and comply in all material respects with and maintain, any and all licenses, approvals, notifications, registrations or permits required by applicable Environmental Laws. 
  
 (b)    Conduct and complete all investigations, studies,
sampling and testing, and all remedial, removal and other actions required under Environmental Laws and comply as required in all material respects with all lawful orders and directives of all Governmental Authorities regarding Environmental Laws.

  
 ARTICLE VI 
  
 Negative Covenants 
  
 The Borrower covenants and agrees with each Lender that, so long as this
Agreement shall remain in effect and until the Commitments have been terminated and the principal of and interest on each Loan, all Fees and all other expenses or amounts payable under this Agreement have been paid in full, unless the Required
Lenders shall otherwise consent in writing, the Borrower will not, and will not cause or permit any of the Subsidiaries to: 
  
 SECTION 6.01.    Liens. Create, incur, assume or permit to exist any Lien on any property or assets (including stock or
other securities of any person, including any Subsidiary) now owned or hereafter acquired by it or on any income or revenues or rights in respect of any thereof, except: 
  
 (a)    Liens on property or assets of the Borrower or any of its Subsidiaries existing on the date
hereof except, in the case of the Borrower, any such Lien securing Indebtedness for borrowed money in excess of $5,000,000 that is not set forth in Schedule 6.01, provided that all Liens permitted by this paragraph (a) shall secure
only those obligations which they secure on the date hereof; 
  
 (b)    any Lien existing on any property or asset prior to the acquisition thereof by the Borrower or any Subsidiary, provided that (i) such Lien is not created in contemplation of or in connection with such
acquisition and (ii) such Lien does not apply to any other property or assets of the Borrower or any Subsidiary; 
  
 (c)    Liens for taxes not yet past due or which are being contested in compliance with Section 5.03; 
  
 (d)    carriers’, warehousemen’s,
mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business and securing obligations that are not due and payable or which are being contested in compliance with Section 5.03; 
  

 35 

 (e)    pledges and deposits made in the ordinary course of business in compliance
with workmen’s compensation, unemployment insurance and other social security laws or regulations; 
  
 (f)    deposits to secure the performance of bids, trade contracts (other than for Indebtedness), leases (other than capital leases),
statutory obligations, surety and appeal bonds, advance payment bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 
  
 (g)    zoning restrictions, easements, rights-of-way, restrictions on use of real property and other
similar encumbrances incurred in the ordinary course of business which, in the aggregate, are not substantial in amount and do not materially detract from the value of the property subject thereto or interfere with the ordinary conduct of the
business of the Borrower or any of its Subsidiaries; 
  
 (h)    Liens upon any property acquired, constructed or improved by the Borrower or any Subsidiary which are created or incurred within 360 days of such acquisition, construction or improvement to secure or provide for
the payment of any part of the purchase price of such property or the cost of such construction or improvement, including carrying costs (but no other amounts), provided that any such Lien shall not apply to any other property of the Borrower
or any Subsidiary; 
  
 (i)    Liens on the
property or assets of any Subsidiary in favor of the Borrower; 
  
 (j)    extensions, renewals and replacements of Liens referred to in paragraphs (a) through (i) of this Section 6.01, provided that any such extension, renewal or replacement Lien shall be limited to the property
or assets covered by the Lien extended, renewed or replaced and that the obligations secured by any such extension, renewal or replacement Lien shall be in an amount not greater than the amount of the obligations secured by the Lien extended,
renewed or replaced; 
  
 (k)    any Lien of
the type described in clause (c) of the definition of the term “Lien” on securities imposed pursuant to an agreement entered into for the sale or disposition of such securities pending the closing of such sale or disposition;
provided such sale or disposition is otherwise permitted hereunder; 
  
 (l)    Liens arising in connection with any Permitted Receivables Program (to the extent the sale by the Borrower or the applicable Subsidiary of its accounts receivable is deemed to give rise to a
Lien in favor of the purchaser thereof in such accounts receivable or the proceeds thereof); and 
  
 (m)    Liens to secure Indebtedness if, immediately after the grant thereof, the aggregate amount of all Indebtedness secured by Liens
that would not be permitted but for this clause (m), when aggregated with the amount of Indebtedness permitted by Section 6.04(h), does not exceed the greater of (i) $100,000,000 or (ii) 15% of Consolidated Net Tangible Assets as shown on the most
recent consolidated balance sheet delivered pursuant to Section 3.05 or 5.04(a) or (b), as the case may be. 
  
 SECTION 6.02.    Sale and Lease-Back Transactions. Enter into any arrangement, directly or indirectly, with any person
whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease back such property; 
  

 36 

 provided, however, that the Borrower and the Subsidiaries may enter into any such transaction to the extent
the Lien on any such property would be permitted by Section 6.01(m). 
  
 SECTION 6.03.    Mergers, Consolidations and Sales of Assets. In the case of the Borrower, merge into or consolidate with any other person, or permit any other person to merge into or consolidate with it,
or sell, transfer, lease or otherwise dispose of, or permit the sale, transfer, lease or other disposition of (in one transaction or in a series of transactions) all or substantially all of its assets (including any Subsidiary), or agree to do any
of the foregoing; provided, however, that any person may merge into or consolidate with the Borrower in a transaction in which the Borrower is the surviving corporation if no Event of Default or Default shall have occurred and be
continuing or would occur immediately after giving effect thereto; provided, further, that nothing in this Section 6.03 shall prohibit the sale of the capital stock or assets of either or both Guarantors. 
  
 SECTION 6.04.    Subsidiary Indebtedness.
Permit any Subsidiary to create, incur, assume or permit to exist any Indebtedness, except: 
  
 (a)    Indebtedness existing on the date hereof and set forth in Schedule 6.04 and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding
principal amount thereof; 
  
 (b)    Indebtedness issued to the Borrower or any other Subsidiary; 
  
 (c)    Indebtedness incurred to finance the acquisition, construction or improvement of any fixed or capital assets, and extensions,
renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof; provided that such Indebtedness is incurred prior to or within 90 days after such acquisition or the completion of such
construction or improvement; 
  
 (d)    Indebtedness of any person that becomes a Subsidiary after the date hereof; provided that such Indebtedness exists at the time such person becomes a Subsidiary and is not created in contemplation of or in
connection with such person becoming a Subsidiary; 
  
 (e)    Indebtedness as an account party in respect of trade letters of credit; 
  
 (f)    Indebtedness arising in connection with any Permitted Receivables Program (to the extent the sale by the applicable Subsidiary
of its accounts receivable is deemed to be Indebtedness of such Subsidiary); 
  
 (g)    performance, advance payment, warranty and bid guarantees and other similar guarantees of payment (other than in respect of Indebtedness for borrowed money) made by a Subsidiary in the
ordinary course of business; and 
  
 (h)    other Indebtedness in an aggregate principal amount, when aggregated with the amount of all Indebtedness secured by Liens permitted by Section 6.01(m), not exceeding the greater of (i) $100,000,000 or (ii) 15% of
Consolidated Net Tangible Assets as shown on the most recent consolidated balance sheet delivered pursuant to Section 3.05 or 5.04(a) or (b), as the case may be. 
  
 SECTION 6.05.    Financial Covenants. (a) Debt to Capitalization. Permit Total Debt
to exceed (i) 55% of Total Capitalization at any time to but excluding June 28, 2004 and (ii) 50% of Total Capitalization at any time from and including June 28, 2004 and thereafter. 
  

 37 

 (b)    Consolidated Interest Coverage Ratio. Permit the Consolidated Interest
Coverage Ratio for any period of four consecutive fiscal quarters of the Borrower ending with any fiscal quarter (i) after the Closing Date until, but excluding, June 28, 2004 to be less than 2.5 to 1.0 and (ii) commencing June 28, 2004 and
thereafter to be less than 3.0 to 1.0. 
  
 ARTICLE VII 

 
 Events Of Default 
  
 In case of the happening of any of the following events (“Events of
Default”): 
  
 (a)    any
representation or warranty made or deemed made in or in connection with this Agreement or the borrowings hereunder, or any representation, warranty, statement or information contained in any report, certificate, financial statement or other
instrument furnished in connection with or pursuant to this Agreement, shall prove to have been false or misleading in any material respect when so made, deemed made or furnished; 
  
 (b)    default shall be made in the payment of any principal of any Loan when and as the same shall
become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or by acceleration thereof or otherwise; 
  
 (c)    default shall be made in the payment of any interest on any Loan or any Fee or any other amount (other than an amount referred
to in (b) above) due under this Agreement, when and as the same shall become due and payable, and such default shall continue unremedied for a period of three Business Days following notice thereof; 
  
 (d)    default shall be made in the due observance or
performance by the Borrower or any Subsidiary of any covenant, condition or agreement contained in Section 5.01(a), 5.05(a) or 5.08 or in Article VI; 
  
 (e)    default shall be made in the due observance or performance by the Borrower or any Subsidiary of any covenant, condition or
agreement contained in this Agreement (other than those specified in (b), (c) or (d) above) and such default shall continue unremedied for a period of 30 days after notice thereof from the Administrative Agent or any Lender to the Borrower;

  
 (f)    the Borrower or any Subsidiary
shall (i) fail to pay any principal or interest, regardless of amount, due in respect of any Indebtedness (excluding guarantees, which are covered by clause (ii) below) in a principal amount in excess of $50,000,000, when and as the same shall
become due and payable, or (ii) fail to make any payment under any guarantee, if the aggregate amount of the guaranteed obligations is in excess of $50,000,000, except to the extent the Borrower or such Subsidiary is contesting in good faith the
requirement to make such payment, or (iii) fail to observe or perform any other term, covenant, condition or agreement contained in any agreement or instrument evidencing or governing any such Indebtedness if the effect of any failure referred to in
this clause (iii) is to cause such Indebtedness to become due prior to its stated maturity; 
  
 (g)    an involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent jurisdiction seeking (i) relief in respect of the Borrower or any Significant
Subsidiary, or of a substantial part of the property or assets of the Borrower or a Significant Subsidiary, under Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal, state or foreign bankruptcy,
insolvency, receivership or similar 
  

 38 

 law, (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the
Borrower or any Significant Subsidiary or for a substantial part of the property or assets of the Borrower or a Significant Subsidiary or (iii) the winding-up or liquidation of the Borrower or any Significant Subsidiary; and such proceeding or
petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 
  
 (h)    the Borrower or any Significant Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking relief
under Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law, (ii) consent to the institution of, or fail to contest in a timely and
appropriate manner, any proceeding or the filing of any petition described in (g) above, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any
Significant Subsidiary or for a substantial part of the property or assets of the Borrower or any Significant Subsidiary, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a
general assignment for the benefit of creditors, (vi) become unable, admit in writing its inability or fail generally to pay its debts as they become due or (vii) take any action for the purpose of effecting any of the foregoing; 
  
 (i)    one or more judgments for the payment of money in
an aggregate amount in excess of $50,000,000 (to the extent not adequately covered by insurance as to which the insurance company has acknowledged coverage in writing) shall be rendered against the Borrower, any Subsidiary or any combination thereof
and the same shall remain undischarged for a period of 30 consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to levy upon assets or properties of the Borrower or any
Subsidiary to enforce any such judgment; 
  
 (j)    an ERISA Event shall have occurred that, in the reasonable opinion of the Required Lenders, when taken together with all other such ERISA Events that have occurred could reasonably be expected to result in a
Material Adverse Effect; 
  
 (k)    there
shall have occurred a Change in Control; or 
  
 (l)    the Guarantee contained in Article IX of this Agreement shall cease, for any reason (other than in accordance with Section 10.17), to be in full force and effect with respect to any Guarantor or the Borrower or
any Guarantor or any Affiliate of the Borrower or any Guarantor shall so assert; 
  
 then, and in every such event (other than an event with respect to the Borrower described in paragraph (g) or (h) above), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of
the Required Lenders shall, by notice to the Borrower, take either or both of the following actions, at the same or different times: (i) terminate forthwith the Commitments and (ii) declare the Loans then outstanding to be forthwith due and payable
in whole or in part, whereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and any unpaid accrued Fees and all other liabilities of the Borrower accrued hereunder, shall become forthwith due
and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein to the contrary notwithstanding; and in any event with respect to the Borrower
described in paragraph (g) or (h) above, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and any unpaid accrued Fees and all other liabilities of the Borrower
accrued hereunder, shall 
  

 39 

 automatically become due and payable, without presentment, demand, protest or any other notice of any kind, all of which
are hereby expressly waived by the Borrower, anything contained herein to the contrary notwithstanding. 
  
 ARTICLE VIII 
  
 The Administrative Agent 
  
 In order to
expedite the transactions contemplated by this Agreement, JPMorgan Chase Bank is hereby appointed to act as Administrative Agent on behalf of the Lenders. Each of the Lenders and each assignee of any such Lender hereby irrevocably authorizes the
Administrative Agent to take such actions on behalf of such Lender or assignee and to exercise such powers as are specifically delegated to the Administrative Agent by the terms and provisions hereof, together with such actions and powers as are
reasonably incidental thereto. The Administrative Agent is hereby expressly authorized by the Lenders, without hereby limiting any implied authority, (a) to receive on behalf of the Lenders all payments of principal of and interest on the Loans and
all other amounts due to the Lenders hereunder, and promptly to distribute to each Lender its proper share of each payment so received; (b) to give notice on behalf of each of the Lenders to the Borrower of any Event of Default specified in this
Agreement of which the Administrative Agent has actual knowledge acquired in connection with its agency hereunder; and (c) to distribute to each Lender copies of all notices, financial statements and other materials delivered by the Borrower
pursuant to this Agreement as received by the Administrative Agent. 
  
 Neither the Administrative Agent nor any of its directors, officers, employees or agents shall be liable as such for any action taken or omitted by any of them except for its or his own gross negligence or wilful misconduct, or be
responsible for any statement, warranty or representation herein or the contents of any document delivered in connection herewith, or be required to ascertain or to make any inquiry concerning the performance or observance by the Borrower of any of
the terms, conditions, covenants or agreements contained in this Agreement. The Administrative Agent shall not be responsible to the Lenders for the due execution, genuineness, validity, enforceability or effectiveness of this Agreement or any other
instruments or agreements. The Administrative Agent shall in all cases be fully protected in acting, or refraining from acting, in accordance with written instructions signed by the Required Lenders (or, when expressly required hereunder, all the
Lenders) and, except as otherwise specifically provided herein, such instructions and any action or inaction pursuant thereto shall be binding on all the Lenders. The Administrative Agent shall, in the absence of knowledge to the contrary, be
entitled to rely on any instrument or document believed by it in good faith to be genuine and correct and to have been signed or sent by the proper person or persons. Neither the Administrative Agent nor any of its directors, officers, employees or
agents shall have any responsibility to the Borrower on account of the failure of or delay in performance or breach by any Lender of any of its obligations hereunder or to any Lender on account of the failure of or delay in performance or breach by
any other Lender or the Borrower of any of their respective obligations hereunder or in connection herewith. The Administrative Agent may execute any and all duties hereunder by or through agents or employees and shall be entitled to rely upon the
advice of legal counsel selected by it with respect to all matters arising hereunder and shall not be liable for any action taken or suffered in good faith by it in accordance with the advice of such counsel. 
  
 The Lenders hereby acknowledge that the Administrative Agent shall be under
no duty to take any discretionary action permitted to be taken by it pursuant to the provisions of this Agreement unless it shall be requested in writing to do so by the Required Lenders. 
  
 Subject to the appointment and acceptance of a successor Administrative Agent as provided below, the Administrative Agent
may resign at any time by notifying the Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right, with the consent of the Borrower 
  

 40 

 (which consent shall not be unreasonably withheld), to appoint a successor. If no successor shall have been so appointed
by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor
Administrative Agent which shall be a bank with an office in New York, New York, having a combined capital and surplus of at least $500,000,000 or an Affiliate of any such bank. Upon the acceptance of any appointment as Administrative Agent
hereunder by a successor bank, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent and the retiring Administrative Agent shall be discharged from its duties and
obligations hereunder. After the Administrative Agent’s resignation hereunder, the provisions of this Article and Section 10.05 shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was
acting as Administrative Agent. 
  
 With respect to the Loans made
by it hereunder, the Administrative Agent in its individual capacity and not as Administrative Agent shall have the same rights and powers as any other Lender and may exercise the same as though it were not the Administrative Agent, and the
Administrative Agent and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not the Administrative Agent. 
  
 Each Lender agrees (a) to reimburse the Administrative Agent, on demand, in
the amount of its pro rata share (based on its Commitment hereunder) of any expenses incurred for the benefit of the Lenders by the Administrative Agent, including counsel fees, that shall not have been reimbursed by the Borrower and (b) to
indemnify and hold harmless the Administrative Agent and any of its directors, officers, employees or agents, on demand, in the amount of such pro rata share, from and against any and all liabilities, taxes, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever that may be imposed on, incurred by or asserted against it in its capacity as the Administrative Agent or any of them in any way relating to or arising out
of this Agreement or any action taken or omitted by it or any of them under this Agreement, to the extent the same shall not have been reimbursed by the Borrower, provided that no Lender shall be liable to the Administrative Agent or any such
other indemnified person for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from the gross negligence or wilful misconduct of the Administrative Agent
or any of its directors, officers, employees or agents. 
  
 Each
Lender acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into
this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall from time to time deem appropriate, continue to
make its own decisions in taking or not taking action under or based upon this Agreement, any related agreement or any document furnished hereunder. Each Lender further acknowledges that (i) the Syndication Agent and the Documentation Agents have no
duties or obligations as such under this Agreement and (ii) with respect to its Loans made or renewed by it, the Syndication Agent and each Documentation Agent shall have the same rights and powers under this Agreement as any Lender and may exercise
the same as though it were not an Agent, and the terms “Lender” and “Lenders” shall include the Syndication Agent and each Documentation Agent in its individual capacity. 
  

 41 

 ARTICLE IX 
  
 Guarantee 
  
 In order to induce the Lenders to extend credit hereunder and in consideration therefor, each Guarantor hereby, jointly and severally, unconditionally and
irrevocably guarantees, as a primary obligor and not merely as a surety, the Obligations. Each Guarantor further agrees that the Obligations may be extended or renewed, in whole or in part, without notice to or further assent from it, and that it
will remain bound upon its Guarantee hereunder notwithstanding any such extension or renewal of any Obligation. 
  
 Each Guarantor waives presentment to, demand of payment from and protest to the Borrower of any of the Obligations, and also waives notice of acceptance
of its obligations and notice of protest for nonpayment. The obligations of each Guarantor hereunder shall not be affected by the failure of any Lender or the Administrative Agent to assert any claim or demand or to enforce any right or remedy
against the Borrower under the provisions of this Agreement or otherwise, or, except as specifically provided therein, by any rescission, waiver, amendment or modification of any of the terms or provisions of this Agreement or any other agreement.

  
 Each Guarantor further agrees that its Guarantee hereunder
constitutes a promise of payment when due and not merely of collection, and waives any right to require that any resort be had by any Lender to any balance of any deposit account or credit on the books of any Lender in favor of the Borrower or any
other person. 
  
 The obligations of either Guarantor hereunder
shall not be subject to any reduction, limitation, impairment or termination for any reason, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever, by reason of the invalidity, illegality or
unenforceability of the Obligations, any impossibility in the performance of the Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of either Guarantor hereunder shall not be discharged or impaired or
otherwise affected by the failure of the Administrative Agent or any Lender to assert any claim or demand or to enforce any remedy under this Agreement or any other agreement, by any waiver or modification in respect of any thereof, by any default,
failure or delay, wilful or otherwise, in the performance of the Obligations, or by any other act or omission which may or might in any manner or to any extent vary the risk of either Guarantor or otherwise operate as a discharge of either Guarantor
as a matter of law or equity. 
  
 Each Guarantor further agrees
that its obligations hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Obligation is rescinded or must otherwise be restored by the
Administrative Agent or any Lender upon the bankruptcy or reorganization of the Borrower or otherwise. 
  
 In furtherance of the foregoing and not in limitation of any other right which the Administrative Agent or any Lender may have at law or in equity against
either Guarantor by virtue hereof, upon the failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, each Guarantor hereby promises to and
will, upon receipt of written demand by the Administrative Agent, forthwith pay, or cause to be paid, in immediately available Dollars the amount of such unpaid Obligation. 
  
 Anything herein to the contrary notwithstanding, the maximum liability of each Guarantor hereunder shall in no event exceed
the amount which can be guaranteed by such Guarantor under 
  

 42 

 applicable federal and state laws relating to the insolvency of debtors (after giving effect to the right of contribution
established in the paragraph below). 
  
 Each Guarantor hereby
agrees that to the extent that either Guarantor shall have paid more than its proportionate share of any payment made hereunder, such Guarantor shall be entitled to seek and receive contribution from and against the other Guarantor hereunder which
has not paid its proportionate share of such payment. Each Guarantor’s right of contribution shall be subject to the terms and conditions of the following paragraph. The provisions of this paragraph shall in no respect limit the obligations and
liabilities of either Guarantor to the Administrative Agent and the Lenders, and each Guarantor shall remain liable to the Administrative Agent and the Lenders for the full amount guaranteed by such Guarantor hereunder. 
  
 Upon payment by either Guarantor of any sums as provided above, all rights of
either Guarantor against the Borrower arising as a result thereof by way of subrogation or otherwise shall in all respects be subordinated and junior in right of payment to the prior indefeasible payment in full of all the Obligations. 

 
 ARTICLE X 
  
 Miscellaneous 
  
 SECTION 10.01.    Notices. Unless otherwise specified herein, notices and other communications provided for herein shall
be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows: 
  
 (a)    if to the Borrower or the Guarantors, at 870 Winter Street, Waltham, Massachusetts 02451-1449, Attention of Linda Hope
(Telecopy No. (781) 552-5158); with a copy to Stephen J. Iglowski at the same address; 
  
 (b)    if to the Administrative Agent, to JPMorgan Chase Bank, One Chase Manhattan Plaza, 8th Floor, New York, New York 10017, Attention of Doris Mesa (Telecopy No. (212) 552-5650), with a copy to
JPMorgan Chase Bank, at 270 Park Avenue, New York, New York 10017, Attention of Mr. Richard Smith (Telecopy No. (212) 270-5127); and 
  
 (c)    if to a Lender, to it at its address (or telecopy number) set forth in Schedule 2.01 or in the Assignment and Acceptance
pursuant to which such Lender shall have become a party hereto. 
  
 All notices
and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt if delivered by hand or overnight courier service or sent by telecopy or on the date
five Business Days after dispatch by certified or registered mail if mailed, in each case delivered, sent or mailed (properly addressed) to such party as provided in this Section 10.01 or in accordance with the latest unrevoked direction from such
party given in accordance with this Section 10.01. 
  
 SECTION
10.02.    Survival of Agreement. All covenants, agreements, representations and warranties made by the Borrower herein and in the certificates or other instruments prepared or delivered in connection with or
pursuant to this Agreement shall be considered to have been relied upon by the Lenders and shall survive the making by the Lenders of the Loans, regardless of any investigation made by the Lenders or on their behalf, and shall continue in full force
and effect as long as the principal of or any accrued interest on any Loan or any Fee or any other amount payable under this Agreement is 
  

 43 

 outstanding and unpaid and so long as the Commitments have not been terminated. The provisions of Sections 2.13, 2.15,
2.19 and 10.05 shall remain operative and in full force and effect regardless of the expiration of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Loans, the expiration of the
Commitments, the invalidity or unenforceability of any term or provision of this Agreement, or any investigation made by or on behalf of the Administrative Agent or any Lender. 
  
 SECTION 10.03.    Binding Effect. This Agreement shall become effective when it shall have
been executed by the Borrower and the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding
upon and inure to the benefit of the parties hereto and their respective permitted successors and assigns. 
  
 SECTION 10.04.    Successors and Assigns. (a) Whenever in this Agreement any of the parties hereto is referred to, such
reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of the Borrower, the Administrative Agent or the Lenders that are contained in this Agreement shall
bind and inure to the benefit of their respective successors and assigns. 
  
 (b)    Each Lender may assign to one or more assignees all or a portion of its interests, rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at
the time owing to it); provided, however, that (i) except in the case of an assignment to a Lender or a Lender Affiliate, (x) the Administrative Agent and (unless an Event of Default shall have occurred and be continuing) the Borrower
must give their prior written consent to such assignment (which consent shall not be unreasonably withheld) and (y) unless the Borrower and the Administrative Agent shall otherwise agree to a lower dollar amount, the amount of the Commitment of the
assigning Lender subject to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to the Administrative Agent) shall not be less than $10,000,000 (or the entire remaining amount of
the assigning Lender’s Commitment), unless such Lender is making a substantially simultaneous assignment to the same assignee pursuant to Section 10.04(b) of the Five-Year Credit Agreement in which case the aggregate of the amount of the
Commitment of the assigning Lender subject to the assignment under this Agreement and the amount of the commitment of the assigning Lender subject to the assignment under the Five-Year Credit Agreement shall not be less than $10,000,000, (ii) the
parties to each such assignment shall execute and deliver to the Administrative Agent an Assignment and Acceptance, together with a processing and recordation fee of $3,500 and (iii) the assignee, if it shall not be a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire. Upon acceptance and recording pursuant to paragraph (e) of this Section 10.04, from and after the effective date specified in each Assignment and Acceptance, which effective date shall be at
least five Business Days after the execution thereof, (A) the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Acceptance, have the rights and obligations of a Lender under this Agreement
and (B) the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the
remaining portion of an assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.13, 2.15, 2.19 and 10.05, as well as to any
Fees accrued for its account and not yet paid). Any assignment by a Lender of rights and/or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a
participation in such rights and/or obligations, as the case may be, in accordance with paragraph (f) of this Section 10.04. 
  

 44 

 (c)    By executing and delivering an Assignment and Acceptance, the assigning Lender
thereunder and the assignee thereunder shall be deemed to confirm to and agree with each other and the other parties hereto as follows: (i) such assigning Lender warrants that it is the legal and beneficial owner of the interest being assigned
thereby free and clear of any adverse claim and that its Commitment, and the outstanding balances of its Revolving Loans and Competitive Loans, in each case without giving effect to assignments thereof which have not become effective, are as set
forth in such Assignment and Acceptance, (ii) except as set forth in (i) above, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in
connection with this Agreement, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement or any other instrument or document furnished pursuant hereto, or the financial condition of the Borrower or
any Subsidiary or the performance or observance by the Borrower or any Subsidiary of any of its obligations under this Agreement or any other instrument or document furnished pursuant hereto; (iii) such assignee represents and warrants that it is
legally authorized to enter into such Assignment and Acceptance; (iv) such assignee confirms that it has received a copy of this Agreement, together with copies of the most recent financial statements referred to in Section 3.05 or delivered
pursuant to Section 5.04 and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such Assignment and Acceptance; (v) such assignee will independently and without reliance upon
the Administrative Agent, such assigning Lender or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement;
(vi) such assignee appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such
powers as are reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Agreement are required to be performed by it as a Lender. 
  
 (d)    The Administrative Agent, acting for this purpose
as an agent of the Borrower, shall maintain at one of its offices in The City of New York a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of,
and principal amount of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The Borrower, the Administrative Agent and the Lenders may treat each person whose name is recorded in the
Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary, and such entries in the Register shall be conclusive absent manifest error. The Register shall be available for
inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 
  
 (e)    Upon its receipt of a duly completed Assignment and Acceptance executed by an assigning Lender and an assignee, an
Administrative Questionnaire completed in respect of the assignee (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) above and, if required, the written consent of the Borrower
and the Administrative Agent to such assignment, the Administrative Agent shall (i) accept such Assignment and Acceptance, (ii) record the information contained therein in the Register and (iii) give prompt notice thereof to the Lenders and the
Borrower. No assignment shall be effective unless it has been recorded in the Register as provided in this paragraph (e). 
  
 (f)    Each Lender may without the consent of the Borrower or the Administrative Agent sell participations to one or more banks or
other entities in all or a portion of its rights and/or obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided, however, that (i) such Lender’s obligations under this
Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, (iii) the participating banks or other entities shall be entitled to the benefit of the cost
protection 
  

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 provisions contained in Sections 2.13, 2.15 and 2.19 (and shall have the duty to mitigate under Section 2.20) to the same
extent as if they were Lenders (provided, that unless such participation was consented to by the Borrower, each participating bank or other entity shall only be entitled to the benefit of the cost protection provisions contained in Sections
2.13, 2.15 and 2.19 to the same extent as its participating Lender) and (iv) the Borrower, the Administrative Agent and the Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and
obligations under this Agreement, and such Lender shall retain the sole right to enforce the obligations of the Borrower relating to the Loans and to approve any amendment, modification or waiver of any provision of this Agreement (other than
amendments, modifications or waivers decreasing any fees payable hereunder or the amount of principal of or the rate at which interest is payable on the Loans, extending any scheduled principal payment date or date fixed for the payment of interest
on the Loans or increasing or extending the Commitments). 
  
 (g)    Any Lender or participant may, in connection with any assignment or participation or proposed assignment or participation pursuant to this Section 10.04, disclose to the assignee or participant or proposed
assignee or participant any information relating to the Borrower furnished to such Lender by or on behalf of the Borrower; provided that, prior to any such disclosure of information designated by the Borrower as confidential, “Company
Private” or “Proprietary”, each such assignee or participant or proposed assignee or participant shall execute an agreement whereby such assignee or participant shall agree (subject to customary exceptions) to preserve the
confidentiality of such confidential information on terms no less restrictive than those applicable to the Lenders pursuant to Section 10.16. 
  
 (h)    Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to
secure obligations of such Lender, including without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such
pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
  
 (i)    Neither the Borrower nor, subject to Section 10.17, any Guarantor shall assign or delegate any of
its rights or duties hereunder without the prior written consent of the Administrative Agent and each Lender, and any attempted assignment without such consent shall be null and void. 
  
 (j)    Notwithstanding anything to the contrary contained herein, any Lender (a “Granting
Lender”) may grant to a special purpose funding vehicle (an “SPC”) of such Granting Lender, identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower, the option to
provide to the Borrower all or any part of any Loan that such Granting Lender would otherwise be obligated to make to the Borrower pursuant to Section 2.01 or 2.03(e), provided that (i) nothing herein shall constitute a commitment to make any
Loan by any SPC and (ii) if an SPC elects not to exercise such option or otherwise fails to provide all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof. The making of a Loan by an SPC
hereunder shall utilize the Commitment of the Granting Lender (and, if such Loan is a Competitive Loan, shall be deemed to utilize the Commitments of all the Lenders) to the same extent, and as if, such Loan were made by the Granting Lender. Each
party hereto hereby agrees that no SPC shall be liable for any indemnity or similar payment obligation under this Agreement (all liability for which shall remain with the related Granting Lender). In furtherance of the foregoing, each party hereto
hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding senior indebtedness of any SPC, it will not institute against, or join
any other person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or similar proceedings under the laws of the United States or any State thereof. In addition, notwithstanding
anything to the contrary contained in this Section 10.04 or in Section 10.16, any SPC may (i) with notice to, but without the prior written consent 
  

 46 

 of, the Borrower or the Administrative Agent and without paying any processing fee therefor, assign all or a portion of
its interests in any Loans to its Granting Lender or to any financial institutions providing liquidity and/or credit facilities to or for the account of such SPC to fund the Loans made by such SPC or to support the securities (if any) issued by such
SPC to fund such Loans and (ii) disclose on a confidential basis any non-public information relating to its Loans to any rating agency, commercial paper dealer or provider of a surety, guarantee or credit or liquidity enhancement to such SPC.

  
 SECTION 10.05.    Expenses;
Indemnity. (a) The Borrower agrees (i) to pay all reasonable out-of-pocket expenses incurred by the Agents and the Arrangers in connection with the syndication of the credit facilities provided for herein and the preparation and
administration of this Agreement or in connection with any amendments, modifications or waivers of the provisions hereof (whether or not the transactions hereby or thereby contemplated shall be consummated), including the reasonable fees, charges
and disbursements of Simpson Thacher & Bartlett, counsel for the Agents and (ii) to pay all out-of-pocket expenses incurred by any Agent, either Arranger or any Lender in connection with the enforcement or protection of its rights in connection
with this Agreement or in connection with the Loans made hereunder, including the fees, charges and disbursements of Simpson Thacher & Bartlett, counsel for the Agents, and, in connection with any such enforcement or protection, the fees,
charges and disbursements of any other counsel (including the allocated charges of in-house counsel) for any Agent or any Lender. The Borrower shall not be obligated to reimburse out-of-pocket legal expenses pursuant to the preceding sentence for
more than one law firm for the Agents incurred in connection with the preparation of this Agreement or in connection with any particular amendment, modification or waiver of the provisions hereof. 
  
 (b)    The Borrower agrees to indemnify each Agent, each
Arranger and each Lender, each Affiliate of any of the foregoing persons and each of their respective directors, officers, employees, advisors and agents (each such person being called an “Indemnitee”) against, and to hold each
Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including reasonable counsel fees, charges and disbursements, incurred by or asserted against any Indemnitee arising out of, in any way connected with,
or as a result of (i) the execution or delivery of this Agreement or any agreement or instrument contemplated thereby, the performance by the parties thereto of their respective obligations thereunder or the consummation of the Transactions and the
other transactions contemplated hereby, (ii) the use of the proceeds of the Loans or (iii) any claim, litigation, investigation or proceeding relating to any of the foregoing, whether or not any Indemnitee is a party thereto; provided that
such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses result from the gross negligence or wilful misconduct of such Indemnitee. 
  
 (c)    The provisions of this Section 10.05 shall remain
operative and in full force and effect regardless of the expiration of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Loans, the expiration of the Commitments, the invalidity or
unenforceability of any term or provision of this Agreement, or any investigation made by or on behalf of any Agent or any Lender. All amounts due under this Section 10.05 shall be payable on written demand therefor. 
  
 SECTION 10.06.    Right of Setoff. If an
Event of Default shall have occurred and be continuing, each Lender is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand,
provisional or final) at any time held and other indebtedness at any time owing by such Lender or any affiliate, branch or agency thereof to or for the credit or the account of the Borrower against any of and all the obligations of the Borrower now
or hereafter existing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such obligations may be 
  

 47 

 unmatured. The rights of each Lender under this Section are in addition to other rights and remedies (including other
rights of setoff) which such Lender may have. 
  
 SECTION
10.07.    APPLICABLE LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
  

SECTION 10.08.    Waivers; Amendment. (a) No failure or delay of the Administrative Agent or any Lender in exercising
any power or right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further
exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of
any provision of this Agreement or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) below, and then such waiver or consent shall be effective only in the specific
instance and for the purpose for which given. No notice or demand on the Borrower in any case shall entitle the Borrower to any other or further notice or demand in similar or other circumstances. 
  
 (a)    Neither this Agreement nor any provision hereof
may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders; provided, however, that no such agreement shall (i) decrease the principal amount of, or
extend the maturity of or any scheduled principal payment date or date for the payment of any interest on any Loan or the payment of any Facility Fee, or waive or excuse any such payment or any part thereof, or decrease the rate of interest on any
Loan, without the prior written consent of each Lender affected thereby, (ii) change or extend the Commitment or decrease the Facility Fees or Utilization Fees of any Lender without the prior written consent of such Lender, (iii) except in
accordance with Section 10.17, reduce or terminate the obligations of either Guarantor, without the prior written consent of each Lender or (iv) amend or modify the provisions of Section 2.16, the provisions of Section 10.04(i), the provisions of
this Section or the definition of the term “Required Lenders”, without the prior written consent of each Lender; provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the
Administrative Agent hereunder without the prior written consent of the Administrative Agent. 
  
 SECTION 10.09.    Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges
and other amounts which are treated as interest on such Loan under applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken,
received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and,
to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and the interest and Charges payable to such Lender in respect
of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender.

  
 SECTION 10.10.    Entire
Agreement. This Agreement and the Fee Letter constitute the entire contract among the parties relative to the subject matter hereof. Any other previous agreement among the parties with respect to the subject matter hereof is superseded by
this Agreement. Nothing in this Agreement, expressed or implied, is intended to confer upon any party other than the parties hereto and thereto any rights, remedies, obligations or liabilities under or by reason of this Agreement. 
  

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 SECTION 10.11.    WAIVER OF JURY TRIAL. EACH PARTY HERETO
HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH PARTY HERETO
(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND
THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.11. 
  

SECTION 10.12.    Severability. In the event any one or more of the provisions contained in this Agreement should be
held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The parties shall endeavor in good-faith
negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
  
 SECTION 10.13.    Counterparts. This
Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract, and shall become effective as
provided in Section 10.03. Delivery of an executed signature page to this Agreement by facsimile transmission shall be effective as delivery of a manually signed counterpart of this Agreement. 
  
 SECTION 10.14.    Headings. Article and
Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 
  
 SECTION 10.15.    Jurisdiction; Consent to Service of
Process. (a) The Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any New York State court or Federal court of the United States of America sitting in New York City,
and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that
all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Administrative Agent or any Lender may otherwise have
to bring any action or proceeding relating to this Agreement against the Borrower or its properties in the courts of any jurisdiction. 
  
 (b)    The Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any
objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any New York State or Federal court. Each of the parties hereto hereby irrevocably waives, to the
fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
  
 (c)    Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 10.01.
Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 
  

 49 

 (d)    The Administrative Agent, each Lender, the Borrower and each Guarantor hereby
irrevocably and unconditionally waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to in this Section any special, exemplary, punitive or consequential damages.

  
 SECTION
10.16.    Confidentiality. The Administrative Agent and each of the Lenders agrees to keep confidential (and to use its best efforts to cause its respective agents and representatives to keep confidential) the
Information (as defined below) and all copies thereof, extracts therefrom and analyses or other materials based thereon, except that the Administrative Agent, any Lender or any Lender Affiliate shall be permitted to disclose Information (a) to such
of its respective officers, directors, employees, agents, affiliates and representatives as need to know such Information, (b) to the extent requested by any regulatory authority or examining authority, (c) to the extent otherwise required by
applicable laws and regulations or by any subpoena or similar legal process, (d) in connection with any suit, action or proceeding relating to the enforcement of its rights hereunder, (e) to the extent permitted by Section 10.04(g), or (f) to the
extent such Information (i) becomes publicly available other than as a result of a breach of this Agreement or (ii) becomes available to the Administrative Agent or any Lender on a non-confidential basis from a source other than the Borrower. For
the purposes of this Section, “Information” shall mean all financial statements, certificates, reports, agreements and information (including all analyses, compilations and studies prepared by the Administrative Agent or any Lender
based on any of the foregoing) that are received from the Borrower or any Subsidiary and related to the Borrower, any Subsidiary or any employee, customer or supplier of the Borrower, other than any of the foregoing that were available to the
Administrative Agent or any Lender on a non-confidential basis prior to its disclosure thereto by the Borrower, and which are in the case of Information provided after the date hereof, clearly identified at the time of delivery as confidential,
“Company Private” or “Proprietary”. The provisions of this Section 10.16 shall remain operative and in full force and effect regardless of the expiration and term of this Agreement. Notwithstanding anything herein to the
contrary, any Lender (and any employee, representative or other agent of such Lender) may disclose to any and all persons, without limitation of any kind, such Lender’s U.S. federal income tax treatment and the U.S. federal income tax structure
of the transactions contemplated hereby relating to such Lender and all materials of any kind (including opinions or other tax analyses) that are provided to it relating to such tax treatment and tax structure. However, no disclosure of any
information relating to such tax treatment or tax structure may be made to the extent nondisclosure is reasonably necessary in order to comply with applicable securities laws. 
  
 SECTION 10.17.    Release of Guarantees. (a) Notwithstanding anything to the contrary contained
herein,            , so long as no Default or Event of Default shall have occurred and be continuing, the Guarantees created by Article IX of this Agreement automatically shall be
terminated and be of no further force or effect and the Administrative Agent is hereby irrevocably authorized by each Lender (without requirement of notice to or consent of any Lender) to take any action reasonably requested by the Borrower (it
being understood that the Administrative Agent shall not refuse to take any reasonable action) to further evidence or document such automatic release of the Guarantees created by Article IX of this Agreement, but in each case only (i) to the extent
necessary to permit the sale of all or substantially all of the stock or of all or substantially all of the assets of either Guarantor, (ii) to the extent necessary to permit the consummation of any transaction that has been consented to in
accordance with Section 10.08 or (iii) under the circumstances described in paragraph (b) below. 
  
 (b)    So long as no Default or Event of Default shall have occurred and be continuing, on the first date after the Closing Date on
which the Borrower has Index Debt of BBB or better from S&P and Baa2 or better from Moody’s, in each case on “stable watch” or the equivalent, the Guarantees created by Article IX of this Agreement automatically shall be
terminated and be of no further force or effect and the Administrative Agent is hereby irrevocably authorized by each Lender (without 
  

 50 

 requirement of notice to or consent of any Lender) to take any action reasonably requested by the Borrower (it being
understood that the Administrative Agent shall not refuse to take any reasonable action) to further evidence or document such automatic release of the Guarantees created by Article IX of this Agreement. 
  
 SECTION 10.18.    Waiver and Consent of the Existing
Credit Agreement. Each Lender which is a Lender (as defined under the Existing Credit Agreement) under the Existing Credit Agreement hereby (i) waives the requirement of Sections 2.10 and 2.12 of the Existing Credit Agreement that termination of
Commitments (as defined under the Existing Credit Agreement) and prepayments of Loans (as defined under the Existing Credit Agreement), respectively, may only be made upon at least 3 Business Days’ prior irrevocable written notice and (ii)
consents to the Borrower prepaying the Loans (as defined under the Existing Credit Agreement) and terminating the Commitments (as defined under the Existing Credit Agreement) under the Existing Credit Agreement on the date of effectiveness of this
Agreement. 
  
 [Remainder of page left blank intentionally;
Signature page to follow.] 
  
  

 51 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective
authorized officers as of the day and year first above written. 
  
 RAYTHEON COMPANY, 
 as the Borrower 
  
 By:    /s/    Richard A. Goglia 
         Vice President and Treasurer 
  
 RAYTHEON TECHNICAL SERVICES COMPANY 
 LLC, as a Guarantor 
  
 By:    /s/    Robert B. Shanks 
         Sr. V.P., General Counsel & Secretary 
  
 RAYTHEON AIRCRAFT COMPANY, 
 as a Guarantor 
  
 By:    /s/    Anthony F. O’Brien 
         VP—Chief Financial Officer 
  
 JPMORGAN CHASE BANK, 
 as a Lender and as Administrative Agent, 
  
 By:    /s/    Richard C. Smith 
         Vice President 
  
 BANK OF AMERICA, N.A., 
 as Syndication Agent and as a Lender 
  
 By:    /s/    Kenneth J. Beck 
         Principal 
  
 CITICORP USA, INC., 
 as Documentation Agent and as a Lender 
  
 By:    /s/    William G. Martens, III 
         Managing Director 
  
 CREDIT SUISSE FIRST BOSTON, 
 as Documentation Agent and as a Lender 
  
 By:    /s/    Jay
Chall 
         Director 
  
  

 52 

 Exhibit A to the 
 364-Day Credit Agreement 
  
 [Form of] 
 RAYTHEON COMPANY 
 ADMINISTRATIVE QUESTIONNAIRE* 
  
 (*Lenders party to the
364-Day Credit Agreement need to complete this form and submit the completed form as indicated below.) 
  
 Please provide the following details: 
  

	

 A) FULL LEGAL BANK NAME: 

  
 B) FULL LEGAL DOMESTIC LENDING OFFICE NAME AND ADDRESS: 
  

  

  

  
 FAX NUMBER: 

  
 TELEX NUMBER:              

  
 C) FULL LEGAL EURODOLLAR LENDING OFFICE NAME AND ADDRESS: 
  

  

  

  
 FAX NUMBER: 

  
 TELEX NUMBER:              

  
 D) FULL LEGAL COMPETITIVE LOAN LENDING OFFICE NAME AND ADDRESS: 
  

  

  

  
 FAX NUMBER: 

  
 TELEX NUMBER:              

  
 E) WHERE EXECUTION COPIES SHOULD BE SENT FOR SIGNATURE(S)**: 
  
 ADDRESS: 

  

  

  
 ATTN: 

 

  
 ; or 
  
 ELECTRONIC MAIL ADDRESS: 

  
 ** The Lender hereby acknowledges that, in the Administrative Agent’s discretion, documents for execution may be sent by electronic mail or posted to a web site
designated by the Administrative Agent. 
  
 Please fax
your completed questionnaire to Doris Mesa at 
 JPMorgan Chase Bank; fax (212) 552-5650. 
  

 F) WHERE CONFORMED (FINAL) COPIES SHOULD BE SENT: 

  

  

  
 ATTN: 

 

  

  
 G) FOR BUSINESS AND/OR CREDIT MATTERS: 
  
 CONTACT NAME/DEPT: 

  
 TELEPHONE NUMBER:
             

  
 FAX NUMBER:              

  
 ELECTRONIC MAIL ADDRESS:
             

  
 H) FOR ADMINISTRATIVE/OPERATIONS MATTERS: 
  
  
 CONTACT NAME/DEPT: 

  
 TELEPHONE NUMBER:
             

  
 FAX NUMBER:              

  
 ELECTRONIC MAIL ADDRESS:
             

  
 I) FOR COMPETITIVE BID REQUESTS: 
  
  
 CONTACT NAME/DEPT: 

  
 TELEPHONE NUMBER:
             

  
 FAX NUMBER:              

  
 ELECTRONIC MAIL ADDRESS:
             

  
 J) PAYMENT INSTRUCTIONS (PLEASE SPECIFY WHERE FUNDS, I.E. INTEREST, FEES, LOAN REPAYMENTS SHOULD BE WIRED): 
  
 BANK NAME:             

  
 ABA, CHIPS #:
             

  
 ACCOUNT #:              

  
 CREDIT TO (if applicable):
             

  
 REFERENCE:              

  
 ATTENTION:             

  

 Exhibit B to the 
 364-Day Credit Agreement 
  
 [Form of] 
 ASSIGNMENT AND ACCEPTANCE 
  
 Reference is made to the 364-Day Competitive Advance and Revolving Credit Facility, dated as of November 24, 2003 (as amended, restated, supplemented or
otherwise modified, the “Credit Agreement”), among Raytheon Company, as the Borrower, Raytheon Technical Services Company LLC, a Delaware limited liability company, and Raytheon Aircraft Company, a Kansas corporation, each as a
Guarantor, the several lenders from time to time parties thereto (the “Lenders”), J.P. Morgan Securities Inc. and Banc of America Securities LLC, as joint lead arrangers and joint bookrunners, Citicorp USA, Inc., and Credit Suisse
First Boston, each as a documentation agent, Bank of America, N.A, as the syndication agent, and JPMorgan Chase Bank, as the administrative agent for the Lenders. Terms defined in the Credit Agreement are used herein with the same meanings.

  
 1. The Assignor hereby sells and assigns, without recourse, to
the Assignee, and the Assignee hereby purchases and assumes, without recourse, from the Assignor, effective as of the Effective Date set forth below (but not prior to the registration of the information contained herein in the Register pursuant to
Section 10.04(e) of the Credit Agreement), the interests set forth below (the “Assigned Interests”) in the Assignor’s rights and obligations under the Credit Agreement, including, without limitation, the amounts and percentages
set forth below of (i) the Commitments of the Assignor on the Effective Date and (ii) the Loans owing to the Assignor which are outstanding on the Effective Date. Each of the Assignor and the Assignee hereby makes and agrees to be bound by all the
representations, warranties and agreements set forth in Section 10.04(c) of the Credit Agreement, a copy of which has been received by each such party. From and after the Effective Date (i) the Assignee shall be a party to and be bound by the
provisions of the Credit Agreement and, to the extent of the Assigned Interests, have the rights and obligations of a Lender thereunder and (ii) the Assignor shall, to the extent of the Assigned Interests, relinquish its rights and be released from
its obligations under the Credit Agreement. 
  
 2. This Assignment
and Acceptance is being delivered to the Administrative Agent together with (i) if the Assignee is organized under the laws of a jurisdiction outside the United States, the forms specified in Section 2.19(g) of the Credit Agreement, duly completed
and executed by such Assignee, (ii) if the Assignee is not already a Lender under the Credit Agreement, an Administrative Questionnaire in the form of Exhibit A to the Credit Agreement and (iii) a processing and recordation fee of $3,500.

  
 3. This Assignment and Acceptance shall be governed by and
construed in accordance with the laws of the State of New York. 
  
 Date of
Assignment: 
  
 Legal Name of Assignor: 
  
 Legal Name of Assignee: 
  
 Assignee’s Address for Notices: 

 Effective Date of Assignment 
 (may not be fewer than 5 Business 
 Days after the Date of Assignment): 
  

					
	 Facility/Commitment

	 	 Amount Assigned
 (Principal Amount Assigned and
Identifying information as to individual
Competitive Loans)

	 	 Percentage Assigned of Applicable
Facility/Commitment (set forth, to at least
8 decimals, as a percentage
of the
TotalCommitments)

	 Commitment
	 	$_____________	 	_________________%
	 Competitive Loans
	 	$_____________	 	_________________%
			
	 The terms set forth above are hereby agreed to:
	 	 	 	Accepted: */
	 	 	 	 	 
			
	 _______________________, as Assignor
	 	 	 	 JPMORGAN CHASE BANK,
 as Administrative
Agent

			
	 By:____________________
 Name:
 Title:
	 	 	 	 By:_________________________
 Name:
 Title:

			
	 _______________________, as Assignor
	 	 	 	RAYTHEON COMPANY, as the Borrower
			
	 By:____________________
 Name:
 Title:
	 	 	 	 By:_________________________
 Name:
 Title:

	*	To be completed to the extent consents are required under Section 11.04(b) of the Credit Agreement. 

  

 2 

 Exhibit C to the 
 364-Day Credit Agreement 
  
 [Form of] 
 BORROWING REQUEST 
  
 JPMorgan Chase Bank, as Administrative Agent for 
 the Lenders referred to
below, 
 270 Park Avenue 
 New York, NY 10017 
  
 Attention of [            ]

  
 [Date] 
  
 Ladies and Gentlemen: 
  
 The undersigned, Raytheon Company, a Delaware corporation (the “Borrower”), refers to the 364-Day
Competitive Advance and Revolving Credit Facility, dated as of November 24, 2003 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”), among the Borrower, Raytheon Technical Services Company LLC, a
Delaware limited liability company, and Raytheon Aircraft Company, a Kansas corporation, each as a Guarantor, the several lenders from time to time parties thereto (the “Lenders”), J.P. Morgan Securities Inc. and Banc of America
Securities LLC, as joint lead arrangers and joint bookrunners, Citicorp USA, Inc., and Credit Suisse First Boston, each as a documentation agent, Bank of America, N.A, as the syndication agent, and JPMorgan Chase Bank, as the administrative agent
for the Lenders (in such capacity, the “Administrative Agent”). Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. The Borrower hereby gives you
notice pursuant to Section 2.04 of the Credit Agreement that it requests a Revolving Borrowing under the Credit Agreement, and in that connection sets forth below the terms on which such Borrowing is requested to be made: 
  

	(A)	Date of Borrowing (which is a Business Day)
                                        
             

  

	(B)	Principal Amount of Borrowing*
                                        
             

  

	(C)	Interest rate basis**
                                        
             

  

	(D)	Interest Period and the last day thereof***
                                        
             

  

	(E)	Funds are requested to be disbursed to the Borrower’s account with JPMorgan Chase Bank (Account
No.                                       
              ) 

	*	Not less than $10,000,000 and in an integral multiple of $1,000,000, but in any event not exceeding the Total Commitment then available. 

  

	**	Specify Eurodollar Borrowing or ABR Borrowing. 

  

	***	Which shall be subject to the definition of “Interest Period” and end not latter than the Maturity Date. 

  

 Upon acceptance of any or all of the Loans offered by the Lenders in response to this request, the
Borrower shall be deemed to have represented and warranted that the applicable conditions to lending specified in Sections 4.01(b) and 4.01(c) of the Credit Agreement have been satisfied. 
  
 RAYTHEON COMPANY, 
  

By:                                      
                       
         Name: 
         Title: [Responsible Officer] 
  

 Exhibit D-1 to the 
 364-Day Credit Agreement 
  
 [Form of] 
 COMPETITIVE BID REQUEST 
  
 JPMorgan Chase Bank, as Administrative Agent for 
 the Lenders referred to
below, 
 270 Park Avenue 
 New York, N.Y. 10017 
  
 [Date] 
  
 Attention:
[                        ] 
  
 Dear Sirs: 
  
 The undersigned, Raytheon Company, a Delaware corporation (the “Borrower”), refers to the 364-Day Competitive Advance and Revolving Credit Facility, dated as of November 24, 2003 (as amended,
restated, supplemented or otherwise modified, the “Credit Agreement”), among the Borrower, Raytheon Technical Services Company LLC, a Delaware limited liability company, and Raytheon Aircraft Company, a Kansas corporation, each as a
Guarantor, the several lenders from time to time parties thereto (the “Lenders”), J.P. Morgan Securities Inc. and Banc of America Securities LLC, as joint lead arrangers and joint bookrunners, Citicorp USA, Inc., and Credit Suisse
First Boston, each as a documentation agent, Bank of America, N.A, as the syndication agent, and JPMorgan Chase Bank, as the administrative agent for the Lenders (in such capacity, the “Administrative Agent”). Capitalized terms used
herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. The Borrower hereby gives you notice pursuant to Section 2.03(a) of the Credit Agreement that it requests a Competitive Borrowing under
the Credit Agreement, and in that connection sets forth below the terms on which such Competitive Borrowing is requested to be made: 
  

	(A)	Date of Competitive Borrowing (which is a Business Day)
                                        
             

  

	(B)	Principal Amount of Competitive Borrowing1
                                        
             

  

	(C)	Interest rate basis2
                                        
             

  

	(D)	Interest Period and the last day thereof3
                                        
             

	1	Not less than $10,000,000 (and in integral multiples of $1,000,000) and not greater than the Total Commitment then available. 

  

	2	Eurodollar Loan or Fixed Rate Loan. 

  

	3	Which shall be subject to the definition of “Interest Period” and end not later than the Maturity Date. 

  

 Upon acceptance of any or all of the Loans offered by the Lenders in response to this request, the
Borrower shall be deemed to have represented and warranted that the conditions to lending specified in Sections 4.01(b) and 4.01(c) of the Credit Agreement have been satisfied. 
  
 Very truly yours, 
  

RAYTHEON COMPANY, 
  
 By:                                      
               
         Name: 
         Title:
[Responsible Officer] 
  

	

  

 Exhibit D-2 to the 
 364-Day Credit Agreement 
  
 [Form of] 
 NOTICE OF COMPETITIVE BID REQUEST 
  
 [Name of Lender] 
 [Address] 
  
 Attention: 
  
 [Date] 
  
 Dear Sirs: 
  
 Reference is made to the 364-Day Competitive Advance and Revolving Credit Facility, dated as of November 24, 2003 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”),
among Raytheon Company, as the Borrower, Raytheon Technical Services Company LLC, a Delaware limited liability company, and Raytheon Aircraft Company, a Kansas corporation, each as a Guarantor, the several lenders from time to time parties thereto
(the “Lenders”), J.P. Morgan Securities Inc. and Banc of America Securities LLC, as joint lead arrangers and joint bookrunners, Citicorp USA, Inc., and Credit Suisse First Boston, each as a documentation agent, Bank of America, N.A,
as the syndication agent, and JPMorgan Chase Bank, as the administrative agent for the Lenders (in such capacity, the “Administrative Agent”). Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Credit Agreement. The Borrower made a Competitive Bid Request on [                        ],
[            ], pursuant to Section 2.03(a) of the Credit Agreement, and in that connection you are invited to submit a Competitive Bid by [Date]/[Time].1 Your Competitive Bid must comply with Section 2.03(b) of the Credit Agreement and the terms set forth below on which the
Competitive Bid Request was made: 
  

	(E)	Date of Competitive Borrowing
                                        
             

  

	(F)	Principal amount of Competitive Borrowing
                                        
             

  

	(G)	Interest rate basis
                                        
             

  

	(H)	Interest Period and the last day thereof
                                        
             

  
 Very truly yours, 
  
 JPMORGAN CHASE BANK, as Administrative Agent, 
  

by
                                        
             
         Name: 
         Title:

  

	1	The Competitive Bid must be received by the Administrative Agent (i) in the case of Eurodollar Loans, not later than 9:30 a.m., New York City time, three Business Days before a
proposed Competitive Borrowing, and (ii) in the case of Fixed Rate Loans, not later than 9:30 a.m., New York City time, on the Business Day of a proposed Competitive Borrowing. 

 Exhibit D-3 to the 
 364-Day Credit Agreement 
  
 [Form of] 
 COMPETITIVE BID 
  
 JPMorgan Chase Bank, as Administrative Agent for 
 the Lenders referred to
below, 
 270 Park Avenue 
 New York, N.Y. 10017 
  
 [Date] 
  
 Attention:
[                        ] 
  
 Dear Sirs: 
  
 The undersigned, [Name of Lender], refers to the 364-Day Competitive Advance and Revolving Credit Facility, dated as of November 24, 2003 (as amended, restated, supplemented or otherwise modified, the “Credit
Agreement”), among Raytheon Company, as the Borrower, Raytheon Technical Services Company LLC, a Delaware limited liability company, and Raytheon Aircraft Company, a Kansas corporation, each as a Guarantor, the several lenders from time to
time parties thereto (the “Lenders”), J.P. Morgan Securities Inc. and Banc of America Securities LLC, as joint lead arrangers and joint bookrunners, Citicorp USA, Inc., and Credit Suisse First Boston, each as a documentation agent,
Bank of America, N.A, as the syndication agent, and JPMorgan Chase Bank, as the administrative agent for the Lenders (in such capacity, the “Administrative Agent”). Capitalized terms used herein and not otherwise defined herein
shall have the meanings assigned to such terms in the Credit Agreement. The undersigned hereby makes a Competitive Bid pursuant to Section 2.03(b) of the Credit Agreement, in response to the Competitive Bid Request made by the Borrower on
[                        ], [            ], and in that
connection sets forth below the terms on which such Competitive Bid is made: 
  

	(I)	Principal Amount1
                                        

  

	(J)	Competitive Bid Rate2
                                        

  

	(K)	Interest Period and last day thereof
                                        

  

	1	Not less than $5,000,000 or greater than the requested Competitive Borrowing and in integral multiples of $1,000,000. Multiple bids will be accepted by the Administrative Agent.

  

	2.	I.e., Eurodollar Rate + or –     %, in the case of Eurodollar Loans, or    %, in the case of Fixed Rate Loans. 

 The undersigned hereby confirms that it is prepared, subject to the conditions set forth in the Credit
Agreement, to extend credit to the Borrower upon acceptance by the Borrower of this bid in accordance with Section 2.03(d) of the Credit Agreement. 
  
 Very truly yours, 
  
 [Name of Lender], 
  
 By:                                      
               
         Name: 
         Title:

  

 Exhibit D-4 to the 
 364-Day Credit Agreement 
  
 [Form of] 
 COMPETITIVE BID ACCEPT/REJECT LETTER 
  
 JPMorgan Chase Bank, as Administrative Agent for 
 the Lenders referred to below, 
 270 Park Avenue 
 New
York, N.Y. 10017 
  
 [Date] 
  
 Attention: [            ]

  
 Dear Sirs: 
  
 The undersigned, Raytheon Company (the “Borrower”), refers to the 364-Day Competitive Advance and Revolving
Credit Facility, dated as of November 24, 2003 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”), among the Borrower, Raytheon Technical Services Company LLC, a Delaware limited liability company,
and Raytheon Aircraft Company, a Kansas corporation, each as a Guarantor, the several lenders from time to time parties thereto (the “Lenders”), J.P. Morgan Securities Inc. and Banc of America Securities LLC, as joint lead arrangers
and joint bookrunners, Citicorp USA, Inc., and Credit Suisse First Boston, each as a documentation agent, Bank of America, N.A, as the syndication agent, and JPMorgan Chase Bank, as the administrative agent for the Lenders (in such capacity, the
“Administrative Agent”). 
  
 In accordance with
Section 2.03(c) of the Credit Agreement, we have received a summary of bids in connection with our Competitive Bid Request dated              and in accordance with Section 2.03(d) of the
Credit Agreement, we hereby accept the following bids for maturity on [date]: 
  

					
	Principal Amount	 	Fixed Rate/Margin	 	Lender
	 $
 $
	 	[%]/[+/-. %]	 	 

  
 We hereby reject the
following bids: 
  

					
	Principal Amount	 	Fixed Rate/Margin	 	Lender
	 $
 $
	 	[%]/[+/-. %]	 	 

  
 The
$                         should be deposited in JPMorgan Chase Bank account number
[                        ] on [date]. 
  
 Very truly yours, 
  

RAYTHEON COMPANY, 
  
 By:                                      
   
         Name: 
         Title: 
  

 Exhibit E to the 
 364-Day Credit Agreement 
  
 [Form of] 
  
 Opinion of Jay B. Stephens* 
  
 [See Opinion] 
  

	*	Opinions may be divided between one or more in-house counsel to the Borrower and each Guarantor, as deemed appropriate by the Borrower. 

 Exhibit F to the 
 364-Day Credit Agreement 
  
 [Form of] 
  
 Opinion of Bingham McCutchen LLP for the
Borrower 
  
 [See Opinion]5TH AMENDED  & RESTATED PURCHASE & SALE AGREEMENT

 Exhibit 10.41 
  

  
 FIFTH AMENDED AND RESTATED 
 PURCHASE AND SALE AGREEMENT 
  
 Dated as of September 1, 2003 
  
 by and among 
  
 GENERAL AVIATION RECEIVABLES CORPORATION, 
 as Seller, 
  
 RAYTHEON AIRCRAFT RECEIVABLES CORPORATION, 
 as Transferor, 
  
 RAYTHEON AIRCRAFT CREDIT CORPORATION, 
 as Originator and as Servicer, 
  
 RECEIVABLES CAPITAL CORPORATION, 
 as Conduit Purchaser, 
  
 BANK OF AMERICA, N.A., 
 as Administrative Agent, as Administrator and as an Alternate
Purchaser, 
  
 and 
  
 THE OTHER ALTERNATE PURCHASERS 
 FROM TIME TO TIME PARTIES HERETO 
  

 TABLE OF CONTENTS 
  

							
	 	 	 	 	 	  	Page

	 ARTICLE I
	 	DEFINITIONS	  	2
				
	 SECTION 1.1
	 	 	 	 Certain Defined Terms
	  	2
				
	 SECTION 1.2
	 	 	 	 Other Terms
	  	26
				
	 SECTION 1.3
	 	 	 	 Computation of Time Periods
	  	26
			
	 ARTICLE II
	 	INVESTMENT AND SETTLEMENTS	  	26
				
	 SECTION 2.1
	 	 	 	 Transfer of Affected Assets; Intended Characterization
	  	26
				
	 SECTION 2.2
	 	 	 	 Request for Investment
	  	28
				
	 SECTION 2.3
	 	 	 	 Investment Procedures
	  	28
				
	 SECTION 2.4
	 	 	 	 [IS RESERVED AND IS SPECIFIED IN SCHEDULE I.]
	  	30
				
	 SECTION 2.5
	 	 	 	 Yield, Fees and Other Costs and Expenses
	  	30
				
	 SECTION 2.6
	 	 	 	 Deemed Collections
	  	30
				
	 SECTION 2.7
	 	 	 	 Payments and Computations, Etc
	  	30
				
	 SECTION 2.8
	 	 	 	 Reports
	  	31
				
	 SECTION 2.9
	 	 	 	 Blocked Accounts
	  	31
				
	 SECTION 2.10
	 	 	 	 Sharing of Payments, Etc
	  	33
				
	 SECTION 2.11
	 	 	 	 Right of Setoff
	  	34
				
	 SECTION 2.12
	 	 	 	 Settlement Procedures; Order of Application
	  	34
				
	 SECTION 2.13
	 	 	 	 [Reserved]
	  	36
				
	 SECTION 2.14
	 	 	 	 Application of Collections Distributable to the Seller; Permitted Dividends
	  	36
				
	 SECTION 2.15
	 	 	 	 Collections Held in Trust
	  	37
				
	 SECTION 2.16
	 	 	 	 Optional Repurchase by Transferor
	  	37
				
	 SECTION 2.17
	 	 	 	 Repurchase or Substitution of Receivables
	  	37
			
	 ARTICLE III
	 	ADDITIONAL ALTERNATE PURCHASER PROVISIONS	  	39
				
	 SECTION 3.1
	 	 	 	 Assignment to Alternate Purchasers
	  	39
				
	 SECTION 3.2
	 	 	 	 Downgrade of Alternate Purchaser
	  	40
				
	 SECTION 3.3
	 	 	 	 Non-Renewing Alternate Purchasers
	  	42
			
	 ARTICLE IV
	 	REPRESENTATIONS AND WARRANTIES	  	43
				
	 SECTION 4.1
	 	 	 	 Representations and Warranties of the Originator, the Transferor, the Seller and the Servicer
	  	43
				
	 SECTION 4.2
	 	 	 	 Additional Representations and Warranties of the Originator and the Servicer
	  	51
			
	 ARTICLE V
	 	CONDITIONS PRECEDENT	  	52

  

 -i- 

 TABLE OF CONTENTS 
 (cont’d) 
  

							
	 	 	 	 	 	  	Page

	 SECTION 5.1
	 	 	 	 Conditions Precedent to Closing and Investment
	  	52
				
	 SECTION 5.2
	 	 	 	 Additional Conditions Precedent to Investment
	  	56
			
	 ARTICLE VI
	 	COVENANTS	  	58
				
	 SECTION 6.1
	 	 	 	 Affirmative Covenants of the Originator, the Transferor, the Seller and the Servicer
	  	58
				
	 SECTION 6.2
	 	 	 	 Negative Covenants of the Originator, the Transferor, the Seller and the Servicer
	  	66
			
	 ARTICLE VII
	 	ADMINISTRATION AND COLLECTIONS	  	68
				
	 SECTION 7.1
	 	 	 	 Appointment of Servicer
	  	68
				
	 SECTION 7.2
	 	 	 	 Duties of Servicer
	  	70
				
	 SECTION 7.3
	 	 	 	 Blocked Account Arrangements
	  	72
				
	 SECTION 7.4
	 	 	 	 Enforcement Rights After Designation of New Servicer
	  	72
				
	 SECTION 7.5
	 	 	 	 Servicer Default
	  	73
				
	 SECTION 7.6
	 	 	 	 Servicing Fee
	  	75
				
	 SECTION 7.7
	 	 	 	 Protection of Ownership Interest of the Purchasers
	  	75
				
	 SECTION 7.8
	 	 	 	 Servicer Liability
	  	75
				
	 SECTION 7.9
	 	 	 	 Conflicts of Interest
	  	76
				
	 SECTION 7.10
	 	 	 	 Limitation of Servicer Authority
	  	76
				
	 SECTION 7.11
	 	 	 	 Servicer Information
	  	76
			
	 ARTICLE VIII
	 	EVENT OF DEFAULTS	  	77
				
	 SECTION 8.1
	 	 	 	 Event of Defaults
	  	77
				
	 SECTION 8.2
	 	 	 	 Remedies
	  	78
				
	 SECTION 8.3
	 	 	 	 Leased Aircraft Collateral
	  	79
			
	 ARTICLE IX
	 	INDEMNIFICATION; EXPENSES; RELATED MATTERS	  	79
				
	 SECTION 9.1
	 	 	 	 Indemnities by the Seller
	  	79
				
	 SECTION 9.2
	 	 	 	 Indemnity for Taxes, Reserves and Expenses
	  	82
				
	 SECTION 9.3
	 	 	 	 Taxes
	  	84
				
	 SECTION 9.4
	 	 	 	 Other Costs and Expenses; Breakage Costs
	  	84
				
	 SECTION 9.5
	 	 	 	 [Reserved]
	  	85
				
	 SECTION 9.6
	 	 	 	 Indemnities by the Servicer
	  	85
			
	 ARTICLE X
	 	THE ADMINISTRATIVE AGENT	  	86
				
	 SECTION 10.1
	 	 	 	 Appointment and Authorization of the Administrative Agent
	  	86

  

 -ii- 

 TABLE OF CONTENTS 
 (cont’d) 
  

							
	 	 	 	 	 	  	Page

	 SECTION 10.2
	 	 	 	 Delegation of Duties
	  	86
				
	 SECTION 10.3
	 	 	 	 Liability of the Administrative Agent
	  	86
				
	 SECTION 10.4
	 	 	 	 Reliance by the Administrative Agent
	  	87
				
	 SECTION 10.5
	 	 	 	Notice of Event of Default, Unmatured Event of Default, Servicer Default or Unmatured Servicer Default	  	87
				
	 SECTION 10.6
	 	 	 	 Credit Decision; Disclosure of Information by the Administrative Agent
	  	88
				
	 SECTION 10.7
	 	 	 	 Indemnification of the Administrative Agent
	  	88
				
	 SECTION 10.8
	 	 	 	 Administrative Agent in Individual Capacity
	  	89
				
	 SECTION 10.9
	 	 	 	 Resignation or Removal of Administrative Agent
	  	89
				
	 SECTION 10.10
	 	 	 	 Payments by the Administrative Agent
	  	90
				
	 SECTION 10.11
	 	 	 	 Administrative Agent to Hold Letters of Credit
	  	90
			
	 ARTICLE XI
	 	MISCELLANEOUS	  	91
				
	 SECTION 11.1
	 	 	 	 Term of Agreement
	  	91
				
	 SECTION 11.2
	 	 	 	 Waivers; Amendments
	  	91
				
	 SECTION 11.3
	 	 	 	 Notices; Payment Information
	  	92
				
	 SECTION 11.4
	 	 	 	 Governing Law; Submission to Jurisdiction; Appointment of Service Agent
	  	93
				
	 SECTION 11.5
	 	 	 	 Integration
	  	94
				
	 SECTION 11.6
	 	 	 	 Severability of Provisions
	  	94
				
	 SECTION 11.7
	 	 	 	 Counterparts; Facsimile Delivery
	  	94
				
	 SECTION 11.8
	 	 	 	 Successors and Assigns; Binding Effect
	  	94
				
	 SECTION 11.9
	 	 	 	 Waiver of Confidentiality
	  	98
				
	 SECTION 11.10
	 	 	 	 Confidentiality Agreement
	  	98
				
	 SECTION 11.11
	 	 	 	 No Bankruptcy Petition Against the Conduit Purchaser
	  	98
				
	 SECTION 11.12
	 	 	 	 No Bankruptcy Petition Against the Transferor and the Seller
	  	98
				
	 SECTION 11.13
	 	 	 	 No Recourse Against Conduit Purchaser, Stockholders, Officers or Directors
	  	99
				
	 SECTION 11.14
	 	 	 	 Tax Treatment
	  	99
				
	 SECTION 11.15
	 	 	 	 Independent Nature of Purchasers’ Rights; Miscellaneous
	  	100
				
	 SECTION 11.16
	 	 	 	 Limitation of Liability
	  	100
				
	 SECTION 11.17
	 	 	 	 Third Party Beneficiary
	  	100

  

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 TABLE OF CONTENTS 
 (cont’d) 
  

					
	 	  	 	  	Page

	 SECTION 11.18
	  	 Certain Understandings Regarding the Originator and the Transferor
	  	100
			
	 SECTION 11.19
	  	 Representation of the Conduit Purchaser
	  	101

  
 Schedules 
  

			
	 Schedule I
	 	Yield and Rate Periods
	 Schedule II
	 	Obligors, Subleases and Cash Deposits, Brazilian Operating Leases, Repossession Insurance, Subleases, Letters of Credit, Exempt Receivables and Extended Receivables
	 Schedule III
	 	Performance Guarantor Financial Covenants
	 Schedule IV
	 	Schedule of Receivables
	 Schedule V
	 	Schedule of Sub-Servicers
	 Schedule 4.1(g)
	 	List of Actions and Suits
	 Schedule 4.1(i)
	 	Location of Certain Offices and Records
	 Schedule 4.1(j)
	 	List of Subsidiaries, Divisions and Tradenames of the Transferor, the Seller and the Servicer; FEINs
	 Schedule 4.1(r)
	 	List of Blocked Account Banks and Blocked Accounts
	 Schedule 11.3
	 	Address and Payment Information

  
 Exhibits

  

			
	 Exhibit A
	  	 Form of Assignment and Assumption Agreement

	 Exhibit B
	  	 Credit and Collection Policies

	 Exhibit C
	  	 Form of Monthly Servicer Report

	 Exhibit D
	  	 Form of Assignments of Rents

	 Exhibit E
	  	 Microsoft Excel Report

	 Exhibit F
	  	 Form of Certificate of Perfection

	 Exhibit G
	  	 Form of Notice of Release

  
 Annexes

  

			
	 Annex A
	  	Minimum Capital Payments and Related Settlement Dates
	 Annex B
	  	Duties of the Servicer

  

 -iv- 

 FIFTH AMENDED AND RESTATED PURCHASE AND SALE AGREEMENT 
  
 This FIFTH AMENDED AND RESTATED PURCHASE AND SALE AGREEMENT, dated as of
September 1, 2003 (as amended, amended and restated, supplemented or otherwise modified from time to time, this “Agreement”), is by and among GENERAL AVIATION RECEIVABLES CORPORATION, a Delaware corporation (in its individual
capacity, “GARC”), as the Seller (in such capacity, together with its successors and permitted assigns, the “Seller”), RAYTHEON AIRCRAFT RECEIVABLES CORPORATION, a Kansas corporation (in its individual capacity,
“RARC”), as the Transferor (in such capacity, together with its successors and permitted assigns in such capacity, the “Transferor”), RAYTHEON AIRCRAFT CREDIT CORPORATION, a Kansas corporation (in its individual
capacity, “RACC”), as the Originator (in such capacity, together with its successors and permitted assigns in such capacity, the “Originator”), and as the initial Servicer (in such capacity, together with its
successors and permitted assigns in such capacity, the “Servicer”), RECEIVABLES CAPITAL CORPORATION, a Delaware corporation, as the Conduit Purchaser (the “Conduit Purchaser”), BANK OF AMERICA, N.A., a national
banking association (in its individual capacity, “Bank of America”), as the Administrative Agent for the Purchasers (in such capacity, together with its successors and permitted assigns in such capacity, the “Administrative
Agent”), BANK OF AMERICA, as the Administrator for the Conduit Purchaser (in such capacity, together with its successors and permitted assigns in such capacity, the “Administrator”) and BANK OF AMERICA, as an Alternate
Purchaser (in such capacity, together with its successors and permitted assigns in such capacity, an “Alternate Purchaser”), and the financial institutions from time to time parties hereto as Alternate Purchasers. 
  
 W I T N E S S E T H : 
  
 WHEREAS, RARC, RACC, the Conduit Purchaser, Bank of America, in its capacity
as managing facility agent, and the various other financial institutions from time to time party thereto, are parties to the Fourth Amended and Restated Purchase and Sale Agreement, dated as of March 8, 2002 (as heretofore amended, amended and
restated, supplemented or otherwise modified, the “Prior Purchase and Sale Agreement”); and 
  
 WHEREAS, the Seller has succeeded to certain of the Transferor’s rights and obligations under the Prior Purchase and Sale Agreement pursuant to the
terms of the Sale and Conveyance Agreement (as defined below); and 
  
 WHEREAS, the parties hereto desire to amend and restate the Prior Purchase and Sale Agreement in its entirety; and 
  
 WHEREAS, the Transferor and the Seller have entered into that certain Sale and Conveyance Agreement, dated as of September 1, 2003 (as amended, amended
and restated, supplemented or otherwise modified from time to time, the “Sale and Conveyance Agreement”), pursuant to which the Transferor has sold and conveyed to the Seller all of its right, title and interest in, to and under the
Receivables, the Contracts and the other Affected Assets (other than title to the Leased Aircraft) and in connection therewith has granted to the Seller a security interest in all of its right, title and interest in, to and under the Leased Aircraft
and the other Affected Assets; 

 NOW THEREFORE, in consideration of the premises and mutual covenants herein contained, the parties hereto
hereby agree to amend and restate the Prior Purchase and Sale Agreement as follows: 
  
 ARTICLE I 
  
 DEFINITIONS 
  
 SECTION 1.1 Certain Defined
Terms. As used in this Agreement, the following terms shall have the following meanings: 
  
 “Additional Capital Payments” means, on any Settlement Date, any and all amounts, if any, remaining in the Collection Account after giving effect to the application of Collections pursuant to
clauses (i) through (viii) in Section 2.12, in accordance with the priorities for payment set forth therein, and payable pursuant to and in accordance with the terms of clause (ix) of Section 2.12 which such
amounts shall be applied toward the repayment of the Net Investment until the Net Investment has been reduced to zero. 
  
 “Administrative Agent” is defined in the preamble. 
  
 “Administrative Agent Fee” has the meaning set forth in the Administrative Agent Fee Letter. 
  
 “Administrative Agent Fee Letter” means the confidential
letter agreement, dated the Closing Date, among the Seller, the Servicer and the Administrative Agent, as the same may be amended, amended and restated, supplemented or otherwise modified from time to time in accordance with its terms with the prior
written consent of the Control Party and, to the extent that any Aggregate Unpaids are then due and owing to the Insurer, the Insurer. 
  
 “Administrator” means Bank of America or an Affiliate thereof, as Administrator for the Conduit Purchaser, or Bank of America or an
Affiliate thereof, as administrator for any Conduit Assignee. 
  
 “Advance Payments” means each advance payment remitted by an Obligor to be deposited into the Collection Account and to be applied to the related Receivable as such advance payment becomes due, in accordance with the
priorities for payment set forth in Section 2.12. 
  
 “Adverse Claim” means a lien, security interest, charge or encumbrance, or other right or claim in, of or on any Person’s assets or properties in favor of any other Person (including any UCC financing statement or any
similar instrument filed against such Person’s assets or properties). 
  
 “Affected Assets” means, collectively, (a) each Aircraft and each Aircraft Fractional Share, (b) the Receivables, (c) the Related Security, (d) all rights and remedies (i) of the Transferor and the
Seller under the First Tier Agreement (including all security interests created or arising thereunder) and (ii) of the Seller under the Sale and Conveyance Agreement (including all security interests created or arising thereunder), (e) each Contract
related to a Receivable, (f) 
  

 -2- 

 each Security Agreement related to a Receivable and all rights in the collateral pledged thereunder, (g) each letter of
credit related to a Receivable, (h) all financing statements filed in favor of the Transferor against the Originator or filed in favor of the Seller against the Transferor in connection with any of the foregoing, (i) each Blocked Account and all
funds from time to time on deposit therein and each Blocked Account Agreement, (j) with respect to any Aircraft Fractional Share, all rights against Flight Options with respect thereto, and (k) all proceeds of each of the foregoing. For the
avoidance of doubt, when used in this Agreement or in any other Transaction Document with respect to any Raytheon Entity, “Affected Assets” shall include only such Raytheon Entity’s right, title and interest in, to and under the
property described in items (a) through (k). 
  
 “Affected
Party” means each Purchaser, the Administrative Agent, the Administrator, each Program Support Provider and their respective agents. 
  
 “Affiliate” means as to any Person, any other Person which, directly or indirectly, owns, is in control of, is controlled by, or is under
common control with, such Person, in each case whether beneficially, or as a trustee, guardian or other fiduciary. A Person shall be deemed to control another Person if the controlling Person possesses, directly or indirectly, the power to direct or
cause the direction of the management or policies of the other Person, whether through the ownership of voting securities or membership interests, by contract, or otherwise. 
  
 “Agent-Related Persons” means the Administrative Agent, together with its Affiliates, and the officers,
directors, employees, agents and attorneys-in-fact of such Persons and their respective Affiliates. 
  
 “Aggregate Collateral Value” means, as of the Cut-off Date, the aggregate amount of the sum of the Unpaid Balance of each Receivable
purchased by the Seller from RARC pursuant to the Sale and Conveyance Agreement. 
  
 “Aggregate Unpaids” means, at any time, an amount equal to the sum of (a) the aggregate unpaid Yield accrued and to accrue to maturity with respect to all Rate Periods at such time, (b) the Net
Investment at such time and (c) all other amounts owed (whether or not then due and payable) hereunder and under the other Transaction Documents by the Originator, the Transferor, the Seller or the Servicer to the Administrative Agent, the
Administrator, any of the Purchasers, the Insurer or any other Secured Party at such time. 
  
 “Agreement” is defined in the preamble. 
  
 “Aircraft” means each aircraft related to a Receivable and the related Contract, together with all other property used in the operation
of such Aircraft or reflecting use or maintenance of such Aircraft, including but not limited to all engines, propellers, instruments, avionics, equipment and accessories attached to, connected with, located in or removed from such Aircraft together
with any replacement airframe. 
  
 “Aircraft Fractional
Share” means an undivided interest in an Aircraft, which undivided interest has been sold pursuant to a Flight Options Contract, together with any replacement aircraft fractional share related to such Flight Options Contract. 
  

 -3- 

 “Alternate Purchaser” means Bank of America and any other financial institution that
shall become a party to this Agreement pursuant to Section 11.8. 
  
 “Alternate Purchaser Percentage” means, at any time, a fraction, expressed as a percentage, the numerator of which is the portion of the Net Investment funded by the Alternate Purchasers and the denominator of which is the
Net Investment at such time. 
  
 “Alternate Rate”
is defined in Section 2.4. 
  
 “Asset
Interest” is defined in Section 2.1(b). 
  
 “Assignment Amount” means, with respect to an Alternate Purchaser at the time of any assignment pursuant to Section 3.1, an amount equal to the least of (a) such Alternate Purchaser’s Pro Rata Share of the Net
Investment requested by the Conduit Purchaser to be assigned at such time; (b) such Alternate Purchaser’s unused Commitment (minus the unrecovered principal amount of such Alternate Purchaser’s investments in the Asset Interest
pursuant to the Program Support Agreement to which it is a party); and (c) in the case of an assignment, the sum of such Alternate Purchaser’s Pro Rata Share of the Conduit Purchaser Percentage of (i) the aggregate Unpaid Balance of the
Receivables (other than Defaulted Receivables), plus (ii) all Collections received by the Servicer but not yet remitted by the Servicer to the Administrative Agent, plus (iii) any amounts in respect of Deemed Collections required to be
paid by the Seller at such time, plus (iv) Yield to accrue through the end of the current Rate Period. 
  
 “Assignment and Assumption Agreement” means an Assignment and Assumption Agreement substantially in the form of Exhibit A.

  
 “Assignment Date” is defined in Section
3.1(a). 
  
 “Assignment of Rents” means each
Aircraft Security Agreement, Assignment of Rents and Proceeds under Aircraft Lease and Assignment, between among the Seller, the Transferor and the Administrative Agent, substantially in the form of Exhibit D, or such other agreement in form
and substance satisfactory to the Administrative Agent and the Control Party, together with any consent by the related Obligor as required pursuant to the related Aviation Authority or the related Contract, as applicable, in each case, as the same
may be amended, amended and restated, supplemented or otherwise modified through the Closing Date, and thereafter, pursuant to and in accordance with the terms of this Agreement. 
  
 “Available Funds” means, with respect to a Fiscal Month, (a) the sum of (without duplication) (i) all
interest payments received during such Fiscal Month into the Collection Account during such Fiscal Month with respect to the Receivables, plus (ii) any Recovery Proceeds received during such Fiscal Month, less (b) the sum of (i)
payments necessary under clauses (i), (ii), (iii), (iv) and (vi) of Section 2.12 on the next succeeding Settlement Date, plus (ii) the Unpaid Balance of any Receivables that became Defaulted
Receivables during such Fiscal Month. 
  
 “Aviation
Authority” means, with respect to any Aircraft, the FAA or any other Person or Official Body that is or shall from time to time be vested with the control and supervision of, or have jurisdiction over, the registration, airworthiness and
operation of aircraft or other matters relating to civil aviation in the jurisdiction of registration for aircraft. 
  

 -4- 

 “Bank of America” is defined in the preamble. 
  
 “Bankruptcy Code” means the Bankruptcy Reform Act of 1978,
11 U.S.C. §§ 101 et seq., as amended, and any regulations promulgated and rulings issued thereunder. 
  
 “Base Rate” is defined in Section 2.4. 
  
 “Blocked Account” means each account (including, without limitation, each Lockbox Account and the Collection Account) in the name of the
Seller and maintained by the Servicer at a Blocked Account Bank for the purpose of receiving Collections, as set forth in Schedule 4.1(r), or any account added as a Blocked Account pursuant to and in accordance with Section 4.1(r) and
which is subject to a Blocked Account Agreement. 
  
 “Blocked Account Agreement” means an agreement among the Seller, the Servicer, the Administrative Agent and a Blocked Account Bank, in form and substance satisfactory to the Administrative Agent and the Control Party, as
the same may be amended, amended and restated, supplemented or otherwise modified from time to time. 
  
 “Blocked Account Bank” means each of the banks set forth in Schedule 4.1(r), as such Schedule 4.1(r) may be modified
pursuant to Section 4.1(r). 
  
 “Blue Book
Value” is defined in Section 2.14(b)(v). 
  
 “Business Day” means any day excluding Saturday, Sunday and any day on which banks in New York, New York, Charlotte, North Carolina, Chicago, Illinois, San Francisco, California, Wichita, Kansas or Boston, Massachusetts are
authorized or required by law to close, and, when used with respect to the determination of any Offshore Rate or any notice with respect thereto, any such day which is also a day for trading by and between banks in United States dollar deposits in
the London interbank market. 
  
 “Capitalized
Lease” of a Person means any lease of property by such Person as lessee which would be capitalized on a balance sheet of such Person prepared in accordance with GAAP. 
  
 “Cash Reserve Account” is defined in Section 2.9(c). 
  
 “Cash Reserve Account Bank” means Bank of America, N.A.,
solely in such capacity. 
  
 “Certificate of
Perfection” means a certificate, substantially in the form attached hereto as Exhibit F or in such other form as is mutually agreed to by the Seller, the Servicer, the Administrative Agent and the Insurer, furnished by the Servicer
pursuant to Section 2.9(c). 
  
 “Change of
Control” means, with respect to (a) the Seller, the failure of the Transferor to own, free and clear of any Adverse Claim and on a fully diluted basis, one hundred percent (100%) of the outstanding shares of voting stock of the Seller; (b)
the Transferor, the failure of 
  

 -5- 

 RACC to own, free and clear of any Adverse Claim and on a fully diluted basis, one hundred percent (100%) of the
outstanding shares of voting stock of the Transferor; (c) RACC (if RACC is the Servicer), either (I) RACC ceases to be a wholly-owned subsidiary of the Performance Guarantor; or (II) RACC shall consolidate, merge, or convey or transfer its
properties and assets substantially as an entity to any Person unless either (1) (A) either (i) the surviving Person’s performance is either guaranteed by the Performance Guarantor or another entity having the same or higher creditworthiness
than the Performance Guarantor and in no event less than “A-” by S&P, “A3” by Moody’s and “A-” by Fitch, or (ii) the surviving Person has the same or higher creditworthiness than the Performance Guarantor and
in no event less than “A-” by S&P, “A3” by Moody’s and “A-” by Fitch and (B) the Person formed by such consolidation shall be organized and existing under the laws of the United States and shall expressly
assume, in an agreement in form and substance reasonably acceptable to each of the Administrative Agent and the Control Party, the performance of every covenant and obligation of the Servicer under the Transaction Documents to which it is a party or
(2) each of the Administrative Agent and the Control Party consents in writing prior to such action and (d) the Performance Guarantor, the acquisition by any Person, or two or more Persons acting in concert, of beneficial ownership (within the
meaning of Rule 13d-3 of the Securities and Exchange Commission under the Securities Exchange Act of 1934) of fifty percent (50%) or more of the outstanding shares of voting stock of the Performance Guarantor. 
  
 “Closing Date” means September 30, 2003. 
  
 “Code” means the Internal Revenue Code of 1986, as amended,
and any regulations promulgated and rulings issued thereunder. 
  
 “Collection Account” is defined in Section 2.9(a). 
  
 “Collection Account Bank” means the bank designated as such as set forth in Schedule 4.1(r), as such Schedule 4.1(r) may be modified pursuant to Section 4.1(r). 
  
 “Collections” means, with respect to Receivables, all cash
collections and other cash proceeds of Receivables from and after the Cut-off Date (including, without limitation, Advance Payments), including all finance charges, if any, and cash proceeds of Affected Assets, Related Security and all Deemed
Collections. 
  
 “Commercial Paper” means the
promissory notes issued or to be issued by the Conduit Purchaser (or its related commercial paper issuer if the Conduit Purchaser does not itself issue commercial paper) in the commercial paper market. 
  
 “Commitment” means, with respect to each Alternate
Purchaser, as the context requires, (a) the commitment of such Alternate Purchaser to make the Investment and to pay Assignment Amounts in accordance herewith in an amount not to exceed the amount described in the following clause (b), and
(b) the dollar amount set forth opposite such Alternate Purchaser’s signature on the signature pages hereof under the heading “Commitment” (or in the case of an Alternate Purchaser which becomes a party hereto pursuant to an
Assignment and Assumption Agreement, as set forth in such Assignment and Assumption Agreement), minus the dollar amount of any Commitment or portion thereof assigned by such Alternate Purchaser pursuant to 
  

 -6- 

 an Assignment and Assumption Agreement, plus the dollar amount of any increase to such Alternate Purchaser’s
Commitment consented to by such Alternate Purchaser prior to the time of determination; provided, however, that, except as otherwise provided in Section 3.3(b), in the event that the Facility Limit is reduced, the aggregate of the Commitments
of all the Alternate Purchasers shall be reduced in a like amount and the Commitment of each Alternate Purchaser shall be reduced in proportion to such reduction. 
  
 “Conduit Assignee” means any special purpose entity that finances its activities directly or indirectly
through asset backed commercial paper and is administered by Bank of America or any of its Affiliates and designated by Bank of America from time to time to accept an assignment from the Conduit Purchaser of all or a portion of the Net Investment.

  
 “Conduit Purchaser” means Receivables Capital
Corporation and any Conduit Assignee thereof. 
  
 “Conduit
Purchaser Percentage” means at any time, one hundred percent (100%), minus the Alternate Purchaser Percentage at such time. 
  
 “Contract” means, in relation to any Receivable, the collective reference to the promissory notes, security agreements, leases,
subleases, financing and security agreements, contracts, documents and instruments pursuant to which RACC has (i) lent such Obligor funds to purchase an Aircraft or, in the case of an Aircraft Fractional Share, an undivided interest in an Aircraft,
and such Obligor has agreed to make monthly or quarterly installment payments in respect of such purchase, or (ii) leased an Aircraft to such Obligor, in each case, as amended, amended and restated, supplemented or otherwise modified from time to
time pursuant to and in accordance with the terms thereof. 
  
 “Contract File” means, with respect to each Contract (which may consist of one or more separate files) (a) in the case of (i) loans (including those relating to each Aircraft Fractional Share), the original promissory note
and a copy of the recorded security agreement, (ii) leases, the original lease and either an assignment of rents and proceeds of any residual interest or a copy of the recorded Assignment of Rents, subject to the Investment Condition, and (iii)
conditional sales, if any, the original conditional sale agreement and a copy of the recorded security agreement, and in all cases (b) the original guaranty (if applicable), (c) copies of all amendments to any of the foregoing documents, (d) the
registration application of the related Obligor (or a legal opinion confirming the filing thereof) with respect to the related Aircraft, (e) the certificate of registration in favor of RARC or the related Obligor (or a legal opinion confirming that
RARC or such Obligor has title to the related Aircraft), (f) all related account/billing information, (g) a current insurance certificate or other evidence of insurance, (h) all related credit/customer financial information, (i) to the extent
applicable, copies of (x) all lease option agreements, (y) the associated purchase and sale agreement and (z) any associated assignment agreements, and (j) to the extent that such documents exist in the Contract File, all other agreements,
documents, certificates, reports, schedules and correspondence relating thereto. 
  
 “Control Party” means, (i) if no Insurer Default has occurred and is continuing, the Insurer, and (ii) if an Insurer Default has occurred and is continuing, the Administrative Agent. 
  

 -7- 

 “Corporate Services Provider” is defined in Section 11.13. 
  
 “CP Rate” is defined in Section 2.4. 
  
 “Credit and Collection Policy” means RACC’s credit and
collection policy or policies and practices, relating to Contracts and Receivables as in effect on the Closing Date and set forth in Exhibit B, as modified, from time to time, pursuant to and in accordance with Sections 6.1(a)(iv) and
6.2(c). 
  
 “Cut-off Date” means August
24, 2003. 
  
 “Deemed Collections” means any
Collections on any Receivable deemed to have been received pursuant to Section 2.6. 
  
 “Default Interest” is defined in Section 2.7. 
  
 “Defaulted Receivable” means, as determined at the end of each Fiscal Month, a Receivable (a) as to which any payment of principal or
interest, or part thereof, remains unpaid for 180 days or more from the original due date (excluding interest on arrears) for such Receivable; (b) as to which an Event of Bankruptcy has occurred and is continuing with respect to the Obligor thereof;
(c) which, consistent with the Credit and Collection Policy, should be written off as uncollectible; or (d) as to which the related Aircraft has been repossessed or the Servicer has initiated the repossession process (it being understood that
any Receivable (i) that became a Defaulted Receivable pursuant to clause (a) above during the previous Fiscal Month and has become less than 180 days past due by the end of such Fiscal Month, or (ii) for which an Eligible Substitute
Receivable has been substituted therefor as provided in Section 2.17 shall no longer be considered a Defaulted Receivable for the purpose of calculating Minimum Equity under this Agreement or the other Transaction Documents unless and until
one of the events described in clauses (a) through (d) subsequently occurs with respect thereto). 
  
 “Defaulting Alternate Purchaser” is defined in Section 2.3(e). 
  
 “Deferred Investment Amount” is defined in Section 2.9(c). 
  
 “Deferred Investment Return Date” is defined in Section
2.9(c). 
  
 “Deferred Investment Request
Date” is defined in Section 2.9(c). 
  
 “Delinquent Receivable” means a Receivable: (a) as to which any payment of principal or interest, or part thereof, remains unpaid for more than ninety (90) days from the original due date (excluding interest on arrears) for
such Receivable and (b) which is not a Defaulted Receivable. 
  
 “Dilution” means a reduction in the Unpaid Balance of any Receivable attributable to any non-cash items including credits, billing errors, sales or similar taxes, volume discounts, allowances, disputes, set-offs,
counterclaims, chargebacks, returned or repossessed goods, sales and marketing discounts, warranties, any unapplied credit memos and other adjustments that are made in respect of Obligors, except any write-off in respect of a Defaulted Receivable.

  

 -8- 

 “Dollar” or “$” means the lawful currency of the United States.

  
 “Downgrade Collateral Account” is defined in
Section 3.2(a). 
  
 “Downgrade Draw” is
defined in Section 3.2(a). 
  
 “Eligible
Investments” means any of the following investments denominated and payable solely in Dollars: (a) readily marketable debt securities issued by, or the full and timely payment of which is guaranteed by the full faith and credit of, the
federal government of the United States, (b) insured demand deposits, time deposits and certificates of deposit of any commercial bank rated “A-1+” by S&P, “P-1” by Moody’s and “A-1+” by Fitch, (c) no load
money market funds rated in the highest ratings category by each of the Rating Agencies (without the “r” symbol attached to any such rating by S&P), (d) commercial paper of any corporation incorporated under the laws of the United
States or any political subdivision thereof, provided that such commercial paper is rated “A-1+” by S&P, “P-1” by Moody’s and “A-1+” by Fitch (without the “r” symbol attached to any such rating
by S&P) and (e) until such time as either the Administrative Agent or the Control Party notifies the Servicer that such investment is no longer an “Eligible Investment”, the JPMorgan U.S. Government Money Market Fund so long as such
investments provide for daily liquidity and is rated “AAA” by S&P and “Aaa” by Moody’s. 
  
 “Eligible Receivable” means, as of the Closing Date, any Receivable: 
  
 (a) which (i) was originated by RACC in the ordinary course of its business and (ii) relates to an Aircraft
manufactured by RAC; 
  
 (b) (i) which
arises pursuant to a Contract and with respect to which each of the Raytheon Entities, as applicable, has performed all obligations then required to be performed by it thereunder, (ii) which has been billed to the relevant Obligor and (iii) which
arises pursuant to a Contract that (I) conforms in all material respects with RACC’s standard form contracts (copies of which have been provided, on or prior to the Closing Date, to the Administrative Agent and the Insurer) on or prior to the
Closing Date as such Contract may be modified (solely to the extent necessary to comply with applicable Law in such countries, or as recommended by Local Aviation Counsel so as to make such form more favorable to RACC) and (II) contains customary
remedies after default (including, without limitation, acceleration of payments and foreclosure rights);  
  
 (c) (i) with respect to which no portion has been or should have been written off as uncollectible in accordance with the terms of the
Credit and Collection Policy and (ii) which complies in all material respects with the Credit and Collection Policy existing on the Closing Date (including, without limitation, policies relating to writeoffs of any Receivable and the policies and
practices maintained by the Servicer’s computer system); 
  
 (d) (i) which, together with the related Leased Aircraft and the other Affected Assets, has been sold or contributed by the Originator to the Transferor pursuant to (and in accordance with) the First Tier Agreement,
(ii) which, together with the other Affected Assets (but not including the Transferor’s title to the related Leased Aircraft), has been sold by the Transferor to the Seller pursuant to (and in accordance with) the Sale and 
  

 -9- 

 
Conveyance Agreement, and (iii) with respect to which the Transferor has good and marketable title to the related Leased Aircraft and the Seller has good and
marketable title to such Receivables and the Related Security (other than title to the related Leased Aircraft), in each case, free and clear of all Adverse Claims (other than any Permitted Lien); 
  
 (e) which, together with the related Obligor, is listed on
the Schedule of Receivables; 
  
 (f) (I)
the Obligor of which (i) is not an Affiliate or employee of any of the Raytheon Entities, (ii) is not an Official Body, (iii) has not become the subject of an Event of Bankruptcy and (iv) has made at least one payment under the related Contract and
(II) in the case of an Aircraft Fractional Share, the Obligor of which and each of the other co-owners of the related Aircraft (A) is a “Citizen of the United States” (as such term is defined in the Federal Aviation Act) and (B) has
executed and filed with the FAA an “AC Form 8050-1 Aircraft Registration Application” covering such Aircraft showing each such Person’s undivided interest in the applicable Aircraft; 
  
 (g) [Reserved]; 
  
 (h) which under the related Contract and applicable Law is
freely assignable for the purposes of the transactions contemplated by this Agreement and the other Transaction Documents without the consent of, or notice to, the Obligor thereunder unless such consent has been obtained and is in effect or such
notice has been given; 
  
 (i) which,
together with the related Contract, is in full force and effect and constitutes the legal, valid and binding obligation of the related Obligor enforceable against such Obligor in accordance with its terms and is not subject to (i) to the knowledge
of the Seller and the Servicer after due inquiry, any litigation to which any Raytheon Entity or Flight Options is a party or as to which any Raytheon Entity or Flight Options has received notice or (ii) any dispute (other than litigation), offset,
counterclaim, rescission or other defense; 
  
 (j) which is denominated and payable only in Dollars in the United States; 
  
 (k) which is not a Defaulted Receivable; 
  
 (l) which is not a Delinquent Receivable; 
  
 (m) which, together with the related Contract, has not been, to the knowledge of the Seller and the Servicer after due inquiry,
compromised, adjusted, released or modified (including by the extension of time for payment or the granting of any discounts, allowances or credits), except as any such amendment, compromise, adjustment, release or modification is contained in the
Contract File related thereto (other than Receivables in respect of Aircraft Fractional Shares); 
  
 (n) which is either an “account”, “chattel paper” or a “general intangible” within the meaning of Article 9
of the UCC of all applicable jurisdictions; and, if the 
  

 -10- 

 
related Contract constitutes “chattel paper”, with respect to which (i) there is an original executed counterpart thereof in the related Contract
File and (ii) all other items in the related Contract File with respect thereto have been delivered to and are at all times, in the possession of the Servicer; 
  

(o) which is an “eligible asset” as defined in Rule 3a-7 under the Investment Company Act of 1940; 
  
 (p) which, together with the Contract related thereto, does
not, to the knowledge of the Seller and the Servicer, conflict with any Laws applicable thereto (including, Laws relating to truth in lending, fair credit billing, fair credit reporting, equal credit opportunity, fair debt collection practices and
privacy) and with respect to which no part of the Contract related thereto is in violation of any Law; 
  
 (q) the assignment of which under the First Tier Agreement by the Originator to the Transferor, under the Sale and Conveyance Agreement by
the Transferor to the Seller, and hereunder by the Seller to the Administrative Agent, does not violate, conflict or contravene any applicable Law or any contractual or other restriction, limitation or encumbrance; 
  
 (r) which (together with the Related Security and the
Affected Assets related thereto) has been the subject of either a valid transfer and assignment from, or the grant of a first priority perfected security interest therein, by the Seller to the Administrative Agent, subject to the Investment
Condition, on behalf of the Secured Parties, of all of the Seller’s right, title and interest therein, effective until the Final Payout Date (unless repurchased or substituted at an earlier date pursuant to and in accordance with the terms of
this Agreement); 
  
 (s) with respect to which
the Servicer is in possession of each item contained in the related Contract File; 
  
 (t) with respect to which (i) the related Obligor has insurance coverage in full force and effect, as required under the related Contract,
(ii) the Seller (or an Affiliate thereof) has insurance coverage in full force and effect with respect to contingent hull and liability and contingent war and liability and (iii) if so noted in Schedule II, the Seller (or an Affiliate
thereof) has repossession insurance in full force and effect; 
  
 (u) with respect to which, to the knowledge of the Seller and the Servicer, (i) the related Obligor has not violated or failed to comply with any Law and (ii) the Aircraft related thereto complies with all applicable
governmental aviation laws, regulations and rules; 
  
 (v) which, together with the related Contract, is in compliance with all applicable FAA laws and regulations and any other applicable Law; 
  
 (w) with respect to which each document, certificate, instrument and other agreement required to be on file with any Aviation Authority,
subject to the Investment Condition, has been filed and recorded (i) in order to transfer to and perfect the Seller’s 
  

 -11- 

 
interest in such Receivable and the other Affected Assets related thereto and (ii) in order to perfect the Administrative Agent’s interest in such
Receivable and the other Affected Assets related thereto; 
  
 (x) with respect to which the Seller (or the Servicer on behalf of the Seller) has, on or prior to the Closing Date, delivered to the Administrative Agent and the Insurer a true and accurate schedule of payments
(based on current interest rates); 
  
 (y) which,
if such Receivable arises under a Contract which is a lease, such lease (i) is a “triple net lease”, pursuant to which the related Obligor is responsible for the maintenance, taxes and insurance with respect to the related Aircraft in
accordance with the Credit and Collection Policy, (ii) contains a “hell or high water” or other similar clause, which such clause unconditionally obligates the related Obligor to make all payments thereunder, without deduction or setoff of
any kind, and (iii) is a non-cancelable contract and no portion of which has been or is (pursuant to the terms of such lease) subject to rejection, voluntary prepayment, early termination or non-assumption, prior to the original term of such lease
(other than in the case of voluntary prepayments, solely in accordance with the terms of such lease); 
  
 (z) as to which, to the knowledge of the Seller and the Servicer, no scheduled maintenance with respect to the Aircraft related thereto
has failed to be performed and completed in a timely fashion; 
  
 (aa) with respect to which, together with the related Contract thereto, any and all payments and deposits required to be made hereunder or under any other Transaction Document by the related Obligor are made free and
clear of, and without deduction for, any and all present or future taxes (including, without limitation, withholding taxes), levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto; 
  
 (bb) which arises under a Contract that requires payments to
be made on a monthly or quarterly basis; 
  
 (cc)
with respect to which, if the related Contract is a lease, the related Obligor has accepted the Aircraft and is in possession of the related Aircraft subject to the related lease and is not subleasing such Aircraft to any other Person, except as set
forth in Schedule II; 
  
 (dd) which, if
the related Contract is a lease, arises under a lease that (pursuant to its terms) is not a “consumer contract” (as such term is used in the applicable UCC); 
  
 (ee) with respect to which none of RACC, the Transferor nor the Seller has used any selection procedures
that identified such Receivable as being less desirable or valuable than other receivables arising under comparable leases or contracts originated by RACC with respect to selection of the Receivables to be purchased hereunder and under any of the
other Transaction Documents; 
  

 -12- 

 (ff) with respect to which the related Aircraft has not suffered a total loss and, any
damage that is less than a total loss with respect to such Aircraft has been repaired and, to the knowledge of the Seller and the Servicer, such Aircraft is in good working condition; 
  
 (gg) which is secured by the applicable Obligor’s entire interest in the related Aircraft or Aircraft
Fractional Share, as applicable; 
  
 (hh) with
respect to which (i) no cash deposit exists (other than cash deposits by those Obligors set forth in Schedule II, in the amounts set forth therein) and (ii) no letter of credit exists (other than the letters of credit set forth in Schedule
II and, on the Closing Date, which are in the possession of the Servicer, for the benefit of the Secured Parties); 
  
 (ii) with respect to which, together with the related Affected Assets, all written information provided by the Seller or the Servicer (or
any Affiliate thereof) to the Administrative Agent or the Insurer is true and correct in all material respects (it being understood that to the extent any such information was provided by an Obligor to the Seller or the Servicer (or any
Affiliate thereof), such information, to the knowledge of the Seller and the Servicer, has no inaccuracies); and 
  
 (jj) with respect to which the master data processing records of the Servicer contain codes which indicate the conveyances of such
Receivable from the Originator to the Transferor, from the Transferor to the Seller and from the Seller to the Administrative Agent, in each case as contemplated by the Transaction Documents. 
  
 “Eligible Substitute Receivable” is defined in Section
2.17(a). 
  
 “ERISA” means the Employee
Retirement Income Security Act of 1974, as the same may be amended from time to time. 
  
 “ERISA Affiliate” means any trade or business (whether or not incorporated) that, together with the Originator, the Transferor or the Seller, is treated as a single employer under Section 414(b) or
(c) of the Code, or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code. 
  
 “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations issued thereunder, with
respect to a Pension Plan; (b) the adoption of any amendment to a Pension Plan that would require the provision of security pursuant to Section 401(a)(29) of the Code or Section 307 of ERISA; (c) the existence with respect to any Pension Plan of an
“accumulated funding deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived; (d) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application for a waiver of the
minimum funding standard with respect to any Pension Plan; (e) the incurrence of any liability under Title IV of ERISA with respect to the termination of any Pension Plan or the withdrawal or partial withdrawal of the Originator, the Transferor or
the Seller or any of their ERISA Affiliates from any Pension Plan or Multiemployer Plan; (f) the receipt by the Originator, the Transferor or the 
  

 -13- 

 Seller or any of their ERISA Affiliates from the Pension Benefit Guaranty Corporation (as defined in ERISA) or a plan
administrator of any notice relating to the intention to termination any Pension Plan or Pension Plans or to appoint a trustee to administer any Pension Plan; (g) the receipt by the Originator, the Transferor or the Seller or any of their ERISA
Affiliates of any notice that Withdrawal Liability is being imposed or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA; and (h) the occurrence of a
non-exempt “prohibited transaction” with respect to which the Originator, the Transferor or the Seller or any of their respective ERISA Affiliates or any of their respective Subsidiaries is a “disqualified person” (within the
meaning of Section 4975) of the Code, or with respect to which the Originator, the Transferor or the Seller or any such Subsidiary could otherwise be liable. 
  
 “Event of Bankruptcy” means, with respect to any Person, (a) that such Person or any Subsidiary of such Person (i) shall generally not
pay its debts as such debts become due or (ii) shall admit in writing its inability to pay its debts generally or (iii) shall make a general assignment for the benefit of creditors; (b) any proceeding shall be instituted by or against such Person or
any Subsidiary of such Person declaring or seeking to adjudicate it as bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, receivership, adjustment, protection, relief or composition of it or its debts under any
law relating to bankruptcy, insolvency, liquidation, receivership, rehabilitation or reorganization or relief of debtors, or seeking the entry of an order for relief or the appointment of a custodian, agent, receiver, trustee or other similar
official for it or any substantial part of its property and, in the case of any such proceeding instituted against it (but not instituted by it), either such proceeding shall remain undismissed or unstayed for a period of sixty (60) days, or one of
the actions sought in such proceeding (including, without limitation, the entry of an order) for relief against, or the appointment of a receiver, trustee, custodian or other similar official for, it or for any substantial part of its property)
shall occur; or (c) such Person or any Subsidiary of such Person shall take any corporate, partnership or other similar action to authorize any of the actions set forth in the preceding clauses (a) or (b). 
  
 “Event of Default” is defined in Section 8.1.

  
 “Excluded Taxes” is defined in Section
9.3. 
  
 “Facility Limit” means two hundred
eighty-six million forty thousand one hundred three dollars and fifty-three cents ($286,040,103.53), as such amount may be reduced in accordance with Section 3.3; provided, that such amount may not at any time exceed the aggregate
Commitments then in effect. 
  
 “FAA” means the
Federal Aviation Administration of the United States, or any successor agency performing the duties thereof. 
  
 “FASB” is defined in Section 9.2. 
  
 “Federal Aviation Act” means Subtitle VII of Title 49 of the United States Code, and the rules and regulations promulgated thereunder, as
in effect on the Closing Date, and as modified or amended hereafter, or any subsequent legislation that supplements or supersedes such Subtitle. 
  

 -14- 

 “Federal Funds Rate” is defined in Section 2.4. 
  
 “Fee Letter” means a collective reference to the
Administrative Agent Fee Letter, the Purchaser Fee Letter and the Insurance Premium Letter. 
  
 “Final Payout Date” means the date on which the Net Investment has been reduced to zero, all accrued Servicing Fees have been paid in full and all other Aggregate Unpaids have been paid in full in
cash. 
  
 “First Tier Agreement” means the
Amended and Restated Intercompany Purchase and Contribution Agreement, dated as of September 1, 2003, between RACC and the Transferor, as the same may be amended, amended and restated, supplemented or otherwise modified from time to time in
accordance with the provisions of the Transaction Documents. 
  
 “Fiscal Month” means (i) so long as RACC (or an Affiliate of RACC) is acting as the Servicer, a fiscal month determined in accordance with the Performance Guarantor’s accounting policies or (ii) if RACC (or an
Affiliate of RACC) is not the Servicer, a calendar month. 
  
 “Fitch” means Fitch, Inc., or any successor that is a nationally recognized statistical rating organization. 
  
 “Flight Options” means Flight Options, LLC, a Delaware limited liability company. 
  
 “Flight Options Contract” means those purchase, management
and other agreements, pursuant to which Flight Options (or Raytheon Travel Air, as its predecessor in interest) has sold to an Obligor an Aircraft Fractional Share and agreed to the management (including interchange arrangements) with respect
thereto. 
  
 “Flight Options Management
Agreements” means (i) each management agreement constituting a Flight Options Contract and (ii) each other management agreement relating to an aircraft fractional share financed by RACC, pursuant to which Flight Options (or Raytheon Travel
Air, as its predecessor in interest) has agreed to the management of such aircraft fractional share. 
  
 “Flight Options Trigger Event” means, at any time, that either (i) an Event of Bankruptcy has occurred and is continuing with respect to
Flight Options, or (ii) obligors of five percent (5%) or more (by number) of receivables relating to the Flight Options Management Agreements have asserted or claimed in writing a default or an event of default (regardless of how described or named)
by Flight Options with respect to the management obligations of Flight Options under the related Flight Options Management Agreement and in each case such assertion or claim is continuing at such time. 
  
 “Fluctuation Factor” is defined in Section 2.4.

  
 “GAAP” means generally accepted accounting
principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the FASB or in such other statements by such accounting
profession, in effect from time to time. 
  

 -15- 

 “GARC” is defined in the preamble. 
  
 “Guaranty” means, with respect to any Person, any agreement
by which such Person assumes, guarantees, endorses, contingently agrees to purchase or provide funds for the payment of, or otherwise becomes liable upon, the obligation of any other Person, or agrees to maintain the net worth or working capital or
other financial condition of any other Person or otherwise assures any other creditor of such other Person against loss, including any comfort letter, operating agreement or take-or-pay contract and shall include the contingent liability of such
Person in connection with any application for a letter of credit. 
  
 “Indebtedness” means, without duplication, with respect to any Person, such Person’s (a) obligations for borrowed money, (b) obligations representing the deferred purchase price of property other than accounts payable
arising in the ordinary course of such Person’s business on terms customary in the trade, (c) obligations, whether or not assumed, secured by liens or payable out of the proceeds or products of property now or hereafter owned or acquired by
such Person, (d) obligations which are evidenced by notes, acceptances (including bankers acceptances), or other instruments, (e) Capitalized Lease obligations, (f) obligations for which such Person is obligated pursuant to a Guaranty, (g)
reimbursement obligations with respect to any letters of credit and (h) any other liabilities which would be treated as indebtedness in accordance with GAAP. 
  
 “Indemnified Amounts” is defined in Section 9.1. 
  
 “Indemnified Parties” is defined in Section 9.1. 
  
 “Insurance and Reimbursement Agreement” means that certain
Insurance and Reimbursement Agreement, dated as of the Closing Date, among the Insurer, the Transferor, the Seller, RACC, the Performance Guarantor and the Administrative Agent, as the same may be amended, amended and restated, supplemented or
otherwise modified from time to time in accordance with the provisions thereof. 
  
 “Insurance Policy” means that certain financial guaranty insurance policy number 42457, dated the Closing Date, by the Insurer in favor of the Administrative Agent, for the benefit of the Purchasers,
without giving effect to any amendment, amendment and restatement, supplement or other modification or replacement thereof that has not been consented to in writing by the Administrative Agent. 
  
 “Insurance Premium Letter” means that certain Premium Letter
Agreement, dated as of the Closing Date, between the Seller and the Insurer, without giving effect to any amendment, amendment and restatement, supplement or other modification or replacement thereof that has not been consented to in writing by the
Administrative Agent. 
  
 “Insurer” means (i)
MBIA Insurance Corporation, a New York stock insurance company; and (ii) any other replacement Insurer, acceptable to the Administrative Agent, subject only to the conditions for replacement set forth in the Insurance and Reimbursement Agreement.

  
 “Insurer Default” means (a) a default by the
Insurer of its obligations to pay any amount payable under the Insurance Policy by the second (2nd) Business Day
after such amount is due 
  

 -16- 

 and payable, (b) the occurrence of an Event of Bankruptcy with respect to the Insurer or (c) the New York State
Superintendent of Insurance shall have applied for an order to rehabilitate, liquidate or dissolve the Insurer, or shall have determined that the Insurer is insolvent, or that the Insurer shall have become subject to any of the actions set forth in
the definition “Event of Bankruptcy”. 
  
 “Interest Component” means, at any time of determination, the aggregate Yield accrued and to accrue through the end of the current Rate Period for the Portion of Investment accruing Yield calculated by reference to the CP
Rate at such time (determined for such purpose using the CP Rate most recently determined by the Administrator, multiplied by the Fluctuation Factor). 
  
 “Investment” is defined in Section 2.2. 
  

“Investment Condition” means that Security Agreements in favor of the Seller and the Administrative Agent have been fully signed and
properly filed with the FAA and other applicable Aviation Authorities with respect to Aircraft and Aircraft Fractional Shares constituting not less than ninety percent (90%) of the Aggregate Collateral Value. 
  
 “Investment Deficit” is defined in Section 2.3(e).

  
 “knowledge” means, with respect to a Person,
the actual knowledge of any responsible officer of such Person without any requirement of investigation or inquiry by such officer. 
  
 “Law” means any law (including, but not limited to, common law), the Federal Aviation Act, constitution, statute, treaty, regulation,
rule, ordinance, order, injunction, writ, decree, judgment or award of any Official Body. 
  
 “Leased Aircraft” means each Aircraft subject to a Contract which is a lease and title with respect to which is held or is purported to be held by the Transferor. 
  
 “Leased Aircraft Collateral” is defined in Section
8.3. 
  
 “Local Aviation Counsel” means (a)
with respect to each Aircraft which is registered with the FAA, Crowe & Dunlevy or, in certain cases, Harper Meyer, and (b) with respect to each Aircraft which is registered with an Aviation Authority (other than the FAA), special counsel in
respect of local law applicable to general aviation matters, which counsel shall be reasonably acceptable to each of the Administrative Agent and the Control Party. 
  
 “Lockbox Account” is defined in Section 2.9(b). 
  
 “Majority Purchasers” means, at any time, the Administrative
Agent and those Alternate Purchasers which hold Commitments aggregating in excess of sixty-six and two-thirds percent (66 2/3%) of the Facility Limit as of such date (or, if the Commitments shall have been terminated, the Administrative Agent and one or more Alternate Purchasers whose aggregate pro rata shares of the Net Investment exceed sixty-six
and two-thirds percent (66 2/3%) of the Alternate Purchaser Percentage of the Net Investment).

  

 -17- 

 “Material Adverse Effect” means any event or condition which would have a material
adverse effect on (a) the collectibility of the Receivables, (b) the condition (financial or otherwise), businesses or properties of the Transferor, the Seller, the Servicer or the Performance Guarantor, (c) the ability of the Originator, the
Transferor, the Seller, the Servicer or the Performance Guarantor to perform its respective obligations under the Transaction Documents to which it is a party, or (d) the interests of any of the Secured Parties under any Transaction Document.

  
 “Maximum Permitted Dividend Amount” means, at
any time prior to the Final Payout Date, twenty-three million five hundred seventy-eight thousand one dollars and seventeen cents ($23,578,001.17). 
  
 “Minimum Capital Payment” means, as of any Settlement Date, the amount (if any) necessary to cause the aggregate cumulative reductions in
the Investment to be equal to the corresponding amount set forth on Annex A with respect to such Settlement Date and all prior Settlement Dates. 
  
 “Minimum Equity” means, as of the end of any Fiscal Month, a fraction (expressed as a percentage) (a) the numerator of which is the
aggregate Unpaid Balance of the Receivables in which the Administrative Agent has an interest which are not Defaulted Receivables minus the Net Investment and (b) the denominator of which is the aggregate Unpaid Balance of the Receivables in
which the Administrative Agent has an interest which are not Defaulted Receivables. 
  
 “Monthly Servicer Report” means a report, substantially in the form attached hereto as Exhibit C or in such other form as is mutually agreed to by the Seller, the Servicer, the Administrative
Agent and the Insurer, furnished by the Servicer pursuant to Section 2.8 for each Fiscal Month. 
  
 “Moody’s” means Moody’s Investors Service, Inc., or any successor that is a nationally recognized statistical rating
organization. 
  
 “Multiemployer Plan” is defined
in Section 4001(a)(3) of ERISA. 
  
 “Net
Investment” at any time means (a) the sum of the cash amount paid to the Seller pursuant to Sections 2.2 and 2.3 less (b) the aggregate amount of Collections theretofore received and applied by the Administrative Agent to
reduce such Net Investment pursuant to Section 2.12; provided that the Net Investment shall be restored and reinstated in the amount of any Collections so received and applied if at any time the distribution of such Collections is
rescinded or must otherwise be returned for any reason. 
  
 “Non-Defaulting Alternate Purchaser” is defined in Section 2.3(e). 
  
 “Notice of Release” means a notice, substantially in the form attached hereto as Exhibit G or in such other form as is mutually
agreed to by the Seller, the Servicer, the Administrative Agent and the Insurer, furnished by the Control Party pursuant to Section 2.9(c). 
  

 -18- 

 “Obligor” means, with respect to any Receivable, the Person primarily obligated to make
payments in respect of such Receivable pursuant to a Contract. 
  
 “Official Body” means any government or political subdivision or any agency, authority, bureau, central bank, commission, department or instrumentality of any such government or political subdivision, or any court,
tribunal, grand jury or arbitrator; or any accounting board or authority (whether or not a part of government) which is responsible for the establishment or interpretation of national or international accounting principles, in each case whether
foreign or domestic. 
  
 “Offshore Rate” is
defined in Section 2.4. 
  
 “Originator”
is defined in the preamble. 
  
 “Originator
Obligations” is defined in Section 11.18. 
  
 “Overdue Rate” is defined in Section 2.7. 
  
 “Payee” is defined in Section 9.3. 
  
 “Payor” is defined in Section 9.3. 
  
 “Pension Plan” means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 307 of ERISA, and in
respect of which the Performance Guarantor or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 
  
 “Performance Guarantor” means Raytheon Company, a Delaware
corporation. 
  
 “Performance Guaranty” means
that certain Amended and Restated Guarantee, dated as of September 1, 2003, made by the Performance Guarantor in favor of the Administrative Agent, as the same may be amended, amended and restated, supplemented or otherwise modified from time to
time in accordance with the provisions of the Transaction Documents. 
  
 “Permissible Servicer Expenses” means commercially reasonable out of pocket fees and expenses incurred by the Servicer in connection with the repossession, refurbishment and re-marketing of the Aircraft securing any
Defaulted Receivable, including, without limitation, all such amounts paid by the Servicer to its Affiliates and other third parties for such services, but specifically excluding costs associated with the Servicer’s infrastructure, including
costs associated with its physical offices and employee salaries. 
  
 “Permitted Aircraft Lien” means, with respect to any Aircraft: 
  
 (A) any materialman’s, mechanic’s, workman’s, repairman’s or other similar Adverse Claim which (i) arises in favor of a Person contracted by and on behalf of the Obligor on the related Contract,
(ii) arises in the ordinary course of business and (iii) (X) has been released or bonded against (or other credit assurances provided) in favor of the Administrative Agent and the 
  

 -19- 

 Purchasers in an amount at least equal to the obligations secured by such Adverse Claim and otherwise in a manner
reasonably satisfactory to each of the Administrative Agent and the Control Party not more than sixty (60) days after the earliest date on which the Transferor, the Seller or the Servicer knew of such Adverse Claim or (Y) secures obligations which
are being contested in good faith by appropriate proceedings, so long as such proceedings do not involve any material danger of the sale, forfeiture or loss of such Aircraft or any interest therein, or 
  
 (B) any Adverse Claim which (i) is involuntary in nature, (ii) secures either
(X) state taxes not yet due by the Obligor on the related Contract or which are being contested in good faith by appropriate proceedings by the Obligor or (Y) any judgment or decree entered against such Obligor, (iii) secures obligations which are
immaterial in amount in relation to such Receivable and (iv) does not involve any material danger of the sale, forfeiture or loss of such Aircraft; or 
  
 (C) any Adverse Claim arising under the related Contract or under the Transaction Documents in favor of the Originator, the Transferor, the Seller and/or
the Administrative Agent, as applicable; or 
  
 (D) solely with
respect to any Aircraft as to which the Originator’s, the Transferor’s and/or the Seller’s interest is limited to an Aircraft Fractional Share, Adverse Claims on the undivided interest(s) in the related Aircraft which are not owned by
the related Obligor. 
  
 “Permitted Dividends”
means, distributions from the Seller to its stockholders, which at all times shall be subject to the provisions of Section 2.14, and which distributions shall be payable from Available Funds and in accordance with and subject to the
priorities for payment set forth in Section 2.12 (it being understood that at no time shall the aggregate amount of Permitted Dividends so distributed exceed the Maximum Permitted Dividend Amount). 
  
 “Permitted Lien” means a Permitted Aircraft Lien or a
Permitted Receivable Lien, as applicable. 
  
 “Permitted
Receivable Lien” means, with respect to any Receivable: 
  
 (A) if for any reason the Receivables are held to be the property of the Seller or if for any other reason the Transaction Documents are held or deemed not to effect an absolute sale of the Receivables to the Administrative Agent for the
benefit of the Purchasers, any Adverse Claim which (i) is involuntary in nature, (ii) secures state taxes not yet due by the Seller or which are being contested in good faith by appropriate proceedings by the Seller or any of its Affiliates (so long
as adequate reserves with respect thereto are maintained on the books of the Seller or such Affiliate in conformity with GAAP), (iii) secures obligations which are immaterial in amount in relation to the Receivables taken as a whole, (iv) does not
involve any material danger of the sale, forfeiture or loss of any Receivable, the Collections with respect thereto and the related Contract, and Aircraft or any other Material Adverse Effect and (v) does not have priority over the lien of the
Administrative Agent in such Receivable; or 
  
 (B) any Adverse
Claim created under the Transaction Documents in favor of the Transferor, the Seller and/or the Administrative Agent, as applicable. 
  

 -20- 

 “Person” means an individual, partnership, limited liability company, corporation, joint
stock company, trust (including a business trust), unincorporated association, joint venture, firm, enterprise, Official Body or any other entity. 
  
 “Portion of Investment” is defined in Section 2.4(a). 
  
 “Program Fee Rate” means a rate per annum specified as such in the Purchaser Fee Letter. 

 
 “Program Support Agreement” means and includes any
agreement entered into by any Program Support Provider providing for the issuance of one or more letters of credit for the account of the Conduit Purchaser (or any related commercial paper issuer that finances the Conduit Purchaser), the issuance of
one or more surety bonds for which the Conduit Purchaser (or such related issuer) is obligated to reimburse the applicable Program Support Provider for any drawings thereunder, the sale by the Conduit Purchaser (or such related issuer) to any
Program Support Provider of the Asset Interest (or portions thereof or participations therein) and/or the making of loans and/or other extensions of credit to the Conduit Purchaser (or such related issuer) in connection with its commercial paper
program, together with any letter of credit, surety bond or other instrument issued thereunder. 
  
 “Program Support Provider” means and includes any Person now or hereafter extending credit or having a commitment to extend credit to or
for the account of, or to make purchases from, the Conduit Purchaser (or any related commercial paper issuer that finances the Conduit Purchaser) or issuing a letter of credit, surety bond or other instrument to support any obligations arising under
or in connection with the Conduit Purchaser’s (or such related issuer’s) commercial paper program. 
  
 “Pro Rata Share” means, for an Alternate Purchaser, (a) the Commitment of such Alternate Purchaser, divided by (b) the sum of the
Commitments of all Alternate Purchasers (or, if the Commitments shall have been terminated, its pro rata share of the Alternate Purchaser Percentage of the Net Investment). 
  
 “Purchaser Fee Letter” means the confidential letter agreement, dated the Closing Date, among the Seller,
the Servicer, the Conduit Purchaser and the Administrative Agent, as the same may be amended, amended and restated, supplemented or otherwise modified from time to time in accordance with its terms and with written notice of each such modification
from the Servicer to the Insurer and each of the Rating Agencies (and, solely to the extent that such amendment, amendment and restatement, supplement or modification causes the per annum rate at which Yield is calculated to exceed the
equivalent of the Offshore Rate plus seventy-five basis points (0.75%) per annum, with the prior written consent of the Insurer). 
  
 “Purchaser(s)” means the Conduit Purchaser and/or the Alternate Purchasers, as the context may require. 
  
 “RAC” means Raytheon Aircraft Company, a Kansas corporation.

  
 “RAH” means Raytheon Aircraft Holdings, Inc.,
a Kansas corporation. 
  

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 “RACC” is defined in the preamble. 
  
 “RACC Intrust Bank Account” means, collectively, that
certain lockbox account, in the name of RACC and maintained at Intrust Bank, N.A., and any successor account thereto where collections in respect of RACC’s or RARC’s receivables are sent. 
  
 “RARC” is defined in the preamble. 
  
 “Rate Period” is defined in Section 2.4. 

 
 “Rate Type” is defined in Section 2.4. 

 
 “Rating Agencies” means Fitch, Moody’s and S&P.

  
 “Raytheon Aircraft and Affiliated Companies
Account” means, collectively, that certain account (bearing account number 0053321112) in the name of RAC and maintained at Fleet Bank, N.A, and any successor account thereto where collections in respect of RACC’s or RARC’s
receivables are sent. 
  
 “Raytheon Entities”
means each of the Performance Guarantor, RACC, RARC and the Seller. 
  
 “Raytheon Revolver” means the Five-Year Competitive Advance and Revolving Credit Facility Agreement, dated as of November 28, 2001, among the Performance Guarantor, as borrower, Raytheon Technical Services Company and RAC,
as guarantors, the lenders party thereto, JPMorgan Chase Bank, as administrative agent, and the other agents party thereto, as in effect on the Closing Date and as the same may be amended, amended and restated, supplemented or otherwise modified,
subject to the terms and provisions set forth in Schedule III of this Agreement. 
  
 “Raytheon Travel Air” means Raytheon Travel Air Company, a Kansas corporation. 
  
 “Receivable” means any indebtedness and other obligations owed to the Originator or to the Transferor or the Seller or any right of the
Originator or the Transferor or the Seller to payment from or on behalf of an Obligor, in respect of any scheduled payment of interest, principal or otherwise under a Contract related to a Receivable listed on the Schedule of Receivables, or any
right to reimbursement for funds paid or advanced by the Originator or the Transferor or the Seller on behalf of an Obligor under such Contract, whether constituting an account, chattel paper, payment intangible, instrument or general intangible
(whether or not earned by performance), together with all supplemental or additional payments required by the terms of such Contract with respect to insurance, maintenance, ancillary products and services and any other specific charges (including,
without limitation, the obligation to pay any finance charges, fees and other charges with respect thereto). 
  
 “Recipient” is defined in Section 2.10. 
  

“Records” means all Contracts and other documents, purchase orders, invoices, agreements, books, records and any other media,
materials or devices for the storage of 
  

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 information (including tapes, disks, punch cards, computer programs and databases and related property) maintained by the
Originator, the Transferor, the Seller or the Servicer with respect to the Receivables, any other Affected Assets or the Obligors. 
  
 “Recovery Proceeds” means, for each Defaulted Receivable at the end of each Fiscal Month, any payments received into the Collection
Account with respect to such Receivable following its classification and during its continuation as a Defaulted Receivable and after deduction of Permissible Servicer Expenses with respect to such Receivable which have not been previously paid to
the Servicer pursuant to Section 2.12 (including, but not limited to, any further installments paid, any payments in relation to past due amounts, any proceeds resulting from the trade-in of the related Aircraft or otherwise and any sales
proceeds following either the negotiated sale or repossession of the related Aircraft). 
  
 “Related Commercial Paper” means, at any time of determination, Commercial Paper, the proceeds of which are then allocated by the Administrator as the source of funding for the acquisition or
maintenance of, the Asset Interest. 
  
 “Related
Security” means with respect to any Receivable, as applicable, all of RACC’s (without giving effect to any transfer under the First Tier Agreement), the Transferor’s (without giving effect to any transfer under the Sale and
Conveyance Agreement) or the Seller’s (without giving effect to any transfer under this Agreement) right, title and interest in, to and under: 
  
 (a) any Aircraft or any Aircraft Fractional Share (including returned or repossessed Aircraft) and documentation or title evidencing the
shipment or storage of any Aircraft relating to any sale giving rise to such Receivable; 
  
 (b) all other security interests or liens and property subject thereto from time to time, if any, purporting to secure payment of such
Receivable, whether pursuant to the Contract related to such Receivable or otherwise, together with all financing statements and other filings authorized or signed, as applicable, by an Obligor relating thereto; 
  
 (c) the Contract and all letters of credit, guarantees,
indemnities, warranties, insurance (and proceeds and premium refunds thereof) or other agreements or arrangements of any kind from time to time supporting or securing payment of such Receivable, whether pursuant to the Contract related to such
Receivable or otherwise; 
  
 (d) all Records
related to such Receivable; and 
  
 (e) all
Collections on and other proceeds of any of the foregoing. 
  
 “Reporting Date” is defined in Section 2.8. 
  
 “Required Downgrade Assignment Period” is defined in Section 3.2(a). 
  
 “Restricted Payments” is defined in Section 6.2(k). 
  
 “Sale and Conveyance Agreement” is defined in the recitals. 
  

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 “Schedule of Receivables” means the listing of all Receivables and the Unpaid Balance
and accrued interest with respect thereto as of the Cut-off Date, as initially set forth in Schedule IV (or, in the case of an Eligible Substitute Receivable, as of the date such Eligible Substitute Receivable is substituted pursuant to the
terms of this Agreement) acquired by the Seller on or prior to the Closing Date, pursuant to the Sale and Conveyance Agreement, certified by the Transferor, the Seller and the Servicer, which list is, at all times, maintained by the Servicer for the
benefit of the Administrative Agent on behalf of the Secured Parties, as such list shall be amended, amended and restated, supplemented or otherwise updated or modified by the Servicer from time to time in connection with any repurchase or
substitution of any Receivable by the Seller or the Servicer, as applicable, pursuant to this Agreement and the other Transaction Documents (it being understood that if the Servicer fails to correctly update such Schedule of Receivables, such
Schedule of Receivables may be updated by the Control Party). 
  
 “Secured Parties” means a collective reference to the Administrative Agent, the Administrator, each Purchaser, the Insurer, each Indemnified Party and each Affected Party. 
  
 “Security Agreement” means each Uniform Commercial Code
financing statement and each other document, mortgage, charge, instrument, agreement or certificate (including, without limitation, any power of attorney granted by the Administrative Agent) which is or has been entered into pursuant to the terms of
this Agreement or otherwise to establish and/or perfect the security interest of the Administrative Agent on behalf of the Secured Parties (including the underlying security interests of the Originator, the Transferor and the Seller) in any Aircraft
or other Affected Asset or to otherwise protect the interests of the Administrative Agent, the Purchasers and the Insurer in any Aircraft or other Affected Asset. 
  
 “Seller” is defined in the preamble. 
  
 “Servicer” is defined in Section 7.1. 
  
 “Servicer Default” is defined in Section 7.5. 
  
 “Services” is defined in Section 7.2. 
  
 “Servicing Fee” means the fees payable to the Servicer from
Collections, in an amount equal to either (i) at any time when the Servicer is RACC or any of its Affiliates, eighty-five basis points (0.85%) per annum on the aggregate Unpaid Balances of the Receivables at the end of the immediately
preceding Fiscal Month, or (ii) at any time when the Servicer is not RACC or any of its Affiliates, the amount determined upon the written agreement of such Person, the Administrative Agent and the Control Party in accordance with the provisions of
Section 7.6, in each case payable in arrears on each Settlement Date from Collections in accordance with and subject to the priorities for payment set forth in Section 2.12. 
  
 “Settlement Date” means the second (2nd) Business Day following the related Reporting Date or such other day as the Seller, the Servicer, the Administrative Agent and the Control Party may from time
to time mutually agree in writing. 
  
 “S&P”
means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., or any successor that is a nationally recognized statistical rating organization. 
  

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 “Standard of Care” is defined in Section 7.2. 
  
 “Sub-Servicer” is defined in Section 7.1(d).

  
 “Subsidiary” means, with respect to any
Person, any corporation or other Person (a) of which securities or other ownership interests having ordinary voting power to elect a majority of the board of directors or other Persons performing similar functions are at the time directly or
indirectly owned by such Person or (b) that is directly or indirectly controlled by such Person within the meaning of control under Section 15 of the Securities Act of 1933. 
  
 “Taxes” shall have the meaning specified in Section 9.3. 
  
 “Termination Date” means the earlier of (a) unless the
Administrator elects otherwise, the date of termination of the related commitment of any Program Support Provider under a Program Support Agreement and (b) the Final Payout Date. 
  
 “Transaction Costs” is defined in Section 9.4(a). 
  
 “Transaction Documents” means, collectively, this Agreement,
the First Tier Agreement, the Sale and Conveyance Agreement, the Administrative Agent Fee Letter, the Purchaser Fee Letter, the Insurance Premium Letter, each Blocked Account Agreement, the Performance Guaranty, the Insurance and Reimbursement
Agreement, the Insurance Policy, each Assignment of Rents, each Security Agreement, and all of the other instruments, documents and other agreements executed and delivered by the Originator, the Transferor, the Seller, the Servicer or the
Performance Guarantor in connection with any of the foregoing. 
  
 “Transferor” is defined in the preamble. 
  
 “Transferor Obligations” is defined in Section 11.18. 
  
 “UCC” means the Uniform Commercial Code as in effect in the applicable jurisdiction or jurisdictions. 
  
 “Unmatured Event of Default” means an event which but for
the lapse of time or the giving of notice, or both, would constitute an Event of Default. 
  
 “Unmatured Servicer Default” means an event which but for the lapse of time or the giving of notice, or both, would constitute a Servicer Default. 
  
 “Unpaid Balance” of any Receivable means, at any time, the
unpaid principal amount thereof, as calculated at the end of the most recent Fiscal Month by the Servicer and as identified by the Servicer’s loan management system after giving effect to amortization and prepayment, as applicable. 

 
 “U.S.” or “United States” means the
United States of America. 
  

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 “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete
or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
  
 “Yield” is defined in Section 2.4. 
  
 SECTION 1.2 Other Terms. All terms defined directly or by incorporation herein shall have the defined meanings when used in any certificate or
other document delivered pursuant thereto unless otherwise defined therein. For purposes of this Agreement and all such certificates and other documents, unless the context otherwise requires: (a) accounting terms not otherwise defined herein, and
accounting terms partly defined herein to the extent not defined, shall have the respective meanings given to them under, and shall be construed in accordance with, GAAP; (b) terms used in Article 9 of the UCC in the State of New York, and not
specifically defined herein, are used herein as defined in such Article 9; (c) references to any amount as on deposit or outstanding on any particular date means such amount at the close of business on such day; (d) the words “hereof,”
“herein” and “hereunder” and words of similar import refer to this Agreement (or the certificate or other document in which they are used) as a whole and not to any particular provision of this Agreement (or such certificate or
document); (e) references to any Section, Schedule, Exhibit and Annex are references to Sections, Schedules, Exhibits and Annexes in or to this Agreement (or the certificate or other document in which the reference is made) and references to any
paragraph, subsection, clause or other subdivision within any Section or definition refer to such paragraph, subsection, clause or other subdivision of such Section or definition; (f) the term “including” means “including without
limitation”; (g) references to any Law refer to that Law as amended from time to time and include any successor Law; (h) references to any agreement refer to that agreement as from time to time amended or supplemented or as the terms of such
agreement are waived or modified in accordance with its terms; (i) references to any Person include that Person’s successors and permitted assigns; and (j) headings are for purposes of reference only and shall not otherwise affect the meaning
or interpretation of any provision hereof. 
  
 SECTION 1.3
Computation of Time Periods. Unless otherwise stated in this Agreement, in the computation of a period of time from a specified date to a later specified date, the word “from” means “from and including”, the words
“to” and “until” each means “to but excluding”, and the word “within” means “from and excluding a specified date and to and including a later specified date”. 
  
 ARTICLE II 
  
 INVESTMENT AND SETTLEMENTS 
  
 SECTION 2.1 Transfer of Affected Assets; Intended Characterization.
(a) Sale of Asset Interest. In consideration of the payment by the Administrative Agent (on behalf of either the Conduit Purchaser or the Alternate Purchasers as determined pursuant to Section 2.3) of the amount of the Investment on
the Closing Date and the Administrative Agent’s agreement (on behalf of either the Conduit Purchaser or the Alternate Purchasers as determined below) to make the payment to the Seller in accordance with Section 2.2, effective upon the
Seller’s receipt of payment for the Investment on the Closing Date, the Seller hereby sells, conveys, transfers and 
  

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 assigns to the Administrative Agent, on behalf of the Secured Parties, all of the Seller’s right, title and interest
in, to and under (i) all Receivables existing on the Cut-off Date and listed on the Schedule of Receivables (as such schedule may be amended, amended and restated, modified or supplemented from time to time in accordance with the terms of this
Agreement), and (ii) all other Affected Assets, whether existing on the Cut-off Date or thereafter arising at any time. 
  
 (b) Purchase of Asset Interest. Subject to the terms and conditions hereof, the Administrative Agent (on behalf of the applicable Secured Parties)
hereby purchases and accepts from the Seller, all of the Seller’s right, title and interest in, to and under the Receivables and all other Affected Assets sold, conveyed, transferred and assigned pursuant to Section 2.1(a). The
Administrative Agent’s right, title and interest in and to the Receivables and all other Affected Assets is herein called the “Asset Interest”. The Administrative Agent shall hold the Asset Interest (i) on behalf of the Conduit
Purchasers and/or the Alternate Purchasers, as applicable, in accordance with the Conduit Purchaser Percentage and the Alternate Purchaser Percentage, respectively, from time to time and (ii) on behalf of the Insurer and any other Secured Parties,
in each case, to secure payment of all amounts owed from time to time to the Secured Parties under the Transaction Documents and each Raytheon Entity’s performance of its obligations under the Transaction Documents. To the extent the
Administrative Agent holds the Asset Interest on behalf of the Alternate Purchasers, except as otherwise provided in Section 3.3(b), the Administrative Agent shall hold the Alternate Purchaser Percentage of the Asset Interest on behalf of
each Alternate Purchaser pro rata in accordance with its respective outstanding portion of the Net Investment funded by such Alternate Purchaser. 
  
 (c) Obligations Not Assumed. The foregoing sale, conveyance, transfer and assignment does not constitute and is not intended to result in the
creation, or an assumption by the Administrative Agent, the Administrator, any Purchaser or the Insurer, of any obligation of the Originator, the Transferor or the Seller, or any other Person under or in connection with the Receivables or any other
Affected Asset, all of which shall remain the obligations and liabilities of the Originator pursuant to the First Tier Agreement. 
  
 (d) Intended Characterization; Grant of Security Interest. 
  
 (i) The Seller, the Administrative Agent and the Purchasers intend that the sale, conveyance, transfer and
assignment of all of the Seller’s right, title and interest in, to and under the Receivables and the other Affected Assets to the Administrative Agent (on behalf of the Secured Parties) hereunder shall be treated as a sale for all purposes,
other than federal and state income tax purposes. If notwithstanding the intent of the parties, the sale, conveyance, transfer and assignment of the Seller’s right, title and interest in, to and under the Receivables and the other Affected
Assets to the Administrative Agent (on behalf of the Secured Parties) is not treated as a sale for all purposes, other than federal and state income tax purposes, the sale, conveyance, transfer and assignment of the Seller’s right, title and
interests in, to and under the Receivables and the other Affected Assets shall be treated as the grant of, and the Seller hereby does grant, a security interest in all of its right, title and interest in, to and under the Receivables and the other
Affected Assets to the Administrative Agent (on behalf of the Secured Parties) to secure the payment and performance of the Seller’s obligations to the Secured Parties hereunder and under the other Transaction Documents or as may be determined
in connection herewith or therewith by applicable Law. 
  

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 (ii) Each of the parties hereto further expressly acknowledges and agrees that the
Commitments of the Alternate Purchasers hereunder, regardless of the intended true sale nature of the overall transaction, are financial accommodations (within the meaning of Section 365(c)(2) of the Bankruptcy Code) to or for the benefit of the
Seller. The parties acknowledge that the foregoing sentence is not intended to have any effect on the intended true sale nature of the transfers pursuant to the each of the First Tier Agreement and the Sale and Conveyance Agreement. 
  
 (iii) Each of the parties hereto acknowledges that the
Transferor and the Seller intend that the sale, conveyance, transfer and assignment of all of the Transferor’s right title and interest in, to and under the Receivables and the other Affected Assets to the Seller under the Sale and Conveyance
Agreement to be true sales of the Affected Assets by the Transferor to the Seller for all purposes, and it is not the intention of the parties to the Assignments of Rents that the Leased Aircraft Collateral include any of the applicable Affected
Assets to the extent that the Sale and Conveyance Agreement effects a true sale thereof from the Transferor to the Seller. 
  
 SECTION 2.2 Request for Investment. Subject to the terms and conditions hereof, including Section 2.9(c) and Article V, in
consideration for the sale, conveyance, transfer and assignment of the Seller’s right, title and interest in, to and under the Receivables and the other Affected Assets to the Administrative Agent (on behalf of the Secured Parties) hereunder,
the Seller shall, by written request to the Administrative Agent and the Insurer, given by facsimile at least two (2) Business Days prior to the Closing Date, request the Administrative Agent (on behalf of the Conduit Purchaser or the Alternate
Purchasers as determined pursuant to Section 2.3) pay to the Seller an amount equal to two hundred eighty million four hundred thirty-one thousand four hundred seventy-four dollars and five cents ($280,431,474.05) (the
“Investment”) on the Closing Date. 
  
 SECTION
2.3 Investment Procedures. 
  
 (a) Upon the Administrative
Agent’s receipt of the request referred to in Section 2.2, the Administrative Agent will promptly notify the Conduit Purchaser, and the Conduit Purchaser shall instruct the Administrative Agent to accept or reject such request by notice
given to the Seller and the Administrative Agent by telephone or facsimile by no later than the close of its business on the Business Day following its receipt of such request. The request by the Seller referred to in Section 2.2 shall be
irrevocable and binding on the Seller, and the Seller shall indemnify the Administrative Agent and each Purchaser against any loss or expense incurred by such Purchaser, either directly or indirectly (including, in the case of the Conduit Purchaser,
through a Program Support Agreement) as a result of any failure by the Seller to satisfy, on or prior to the Closing Date, any of the terms or conditions set forth herein (including, but not limited to, the conditions set forth in Article V),
including any loss (including loss of profit) or expense incurred by the Administrative Agent or any Purchaser, either directly or indirectly (including, in the case of the Conduit Purchaser, pursuant to a Program Support Agreement) by reason of the
liquidation or reemployment of funds acquired by such Purchaser (or the applicable 
  

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 Program Support Provider(s)) (including funds obtained by issuing commercial paper or promissory notes or obtaining
deposits or loans from third parties) in order to fund the Investment. 
  
 (b) Alternate Purchaser’s Commitment. The Conduit Purchaser shall not have any obligation to fund the Investment. If the Conduit Purchaser has rejected the request for the Investment, the Administrative Agent shall so notify the
Alternate Purchasers and the Alternate Purchasers shall make the Investment, on a pro rata basis, in accordance with their respective Pro Rata Shares, subject to the terms and conditions of this Agreement. Notwithstanding anything contained
in this Section 2.3(b) or elsewhere in this Agreement to the contrary, no Alternate Purchaser shall be obligated to provide the Administrative Agent or the Seller with funds in connection with the Investment in an amount that would result in
the portion of the Net Investment then funded by it exceeding its Commitment then in effect (minus the unrecovered principal amount of such Alternate Purchaser’s investments in the Asset Interest pursuant to the Program Support Agreement to
which it is a party). The obligation of each Alternate Purchaser to remit its Pro Rata Share of the Investment shall be several from that of each other Alternate Purchaser, and the failure of any Alternate Purchaser to so make such amount available
to the Administrative Agent shall not relieve any other Alternate Purchaser of its obligation hereunder. 
  
 (c) Payment of Investment. On the Closing Date, the Conduit Purchaser or each Alternate Purchaser, as the case may be, shall remit its share of the
aggregate amount of the Investment (as set forth in Section 2.2) to the account of the Administrative Agent specified therefor from time to time by the Administrative Agent by notice to such Persons by wire transfer of same day funds.
Following the Administrative Agent’s receipt of funds from the applicable Purchasers as aforesaid, the Administrative Agent shall remit such funds received to the Seller’s account at the location indicated in Section 11.3, by wire
transfer of same day funds. 
  
 (d) [Reserved]. 

 
 (e) Defaulting Alternate Purchaser. If, by 2:00 p.m. (New York City
time), whether or not the Administrative Agent has advanced the amount of the Investment, one or more Alternate Purchasers (each, a “Defaulting Alternate Purchaser”, and each Alternate Purchaser other than any Defaulting Alternate
Purchaser being referred to as a “Non-Defaulting Alternate Purchaser”) fails to make its Pro Rata Share of the Investment available to the Administrative Agent pursuant to Section 2.3(c) or any Assignment Amount payable by it
pursuant to Section 3.1 (the aggregate amount not so made available to the Administrative Agent being herein called in either case the “Investment Deficit”), then the Administrative Agent shall, by no later than 2:30 p.m.
(New York City time) on the Closing Date or the applicable Assignment Date, as the case may be, instruct each Non-Defaulting Alternate Purchaser to pay, by no later than 3:00 p.m. (New York City time), in immediately available funds, to the account
designated by the Administrative Agent, an amount equal to the lesser of (i) such Non-Defaulting Alternate Purchaser’s proportionate share (based upon the relative Commitments of the Non-Defaulting Alternate Purchasers) of the Investment
Deficit and (ii) its unused Commitment. Each Defaulting Alternate Purchaser shall forthwith, upon demand, pay to the Administrative Agent for the ratable benefit of the Non-Defaulting Alternate Purchasers all amounts paid by each Non-Defaulting
Alternate Purchaser on behalf of such Defaulting Alternate Purchaser, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting Alternate 
  

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 Purchaser until the date such Non-Defaulting Alternate Purchaser has been paid such amounts in full, at the Overdue Rate.
In addition, if, after giving effect to the provisions of the immediately preceding sentence, any Investment Deficit with respect to any Assignment Amount continues to exist, each such Defaulting Alternate Purchaser shall pay interest to the
Administrative Agent, for the account of the Conduit Purchaser, on such Defaulting Alternate Purchaser’s portion of such remaining Investment Deficit, at the Overdue Rate, for each day from the applicable Assignment Date until the date such
Defaulting Alternate Purchaser shall pay its portion of such remaining Investment Deficit in full to the Conduit Purchaser. 
  
 SECTION 2.4 [IS RESERVED AND IS SPECIFIED IN SCHEDULE I.] 
  

SECTION 2.5 Yield, Fees and Other Costs and Expenses. All amounts due and payable by the Seller hereunder as Yield, or under any Fee Letter or
the Servicer Fees, shall be paid in accordance with and subject to the payment of priorities set forth in Section 2.12. Notwithstanding any limitation on recourse herein, the Seller shall pay, as and when due in accordance with this
Agreement, all amounts payable pursuant to Article IX. Nothing in this Agreement shall limit in any way the obligations of the Seller and the Performance Guarantor to pay the amounts set forth in this Section 2.5 or in Article
IX. The Administrative Agent agrees to notify the Servicer, no later than two (2) Business Days prior to the related Reporting Date, of the fees due and payable to the Administrative Agent and each Purchaser on the related Settlement Date;
provided, that the failure of the Administrative Agent to so notify the Servicer shall in no manner whatsoever, impact, affect or impair the Administrative Agent’s or any Purchaser’s right to receive any such amounts as calculated
by the Servicer in good faith on such Settlement Date. 
  
 SECTION
2.6 Deemed Collections. If on any day the Unpaid Balance of a Receivable is reduced or such Receivable is canceled as a result of any Dilution, the Seller shall be deemed to have received on such day a Collection of such Receivable in the
amount of such Dilution (as determined immediately prior to such Dilution) of such Receivable (if such Receivable is canceled) or, otherwise in the amount of such reduction, and the Seller shall pay to the Collection Account an amount equal to such
Deemed Collection and such amount shall be allocated by the Servicer and distributed as a Collection in accordance with and subject to the priorities for payment set forth in Section 2.12. 
  
 SECTION 2.7 Payments and Computations, Etc. All amounts to be paid or
deposited by the Seller, the Servicer or any other Raytheon Entity hereunder shall be paid or deposited in immediately available funds by wire transfer in accordance with the terms hereof no later than 11:00 a.m. (New York City time) on the day when
due; if such amounts are payable to the Administrative Agent (whether on behalf of any Purchaser or otherwise) or the Insurer they shall be paid or deposited in the account indicated under the heading “Payment Information” in Section
11.3, until otherwise notified by the Administrative Agent or the Insurer, as applicable. The Seller shall, to the extent permitted by Law, pay to the Administrative Agent, in accordance with the immediately preceding sentence, upon demand,
interest on all amounts not paid or deposited when due hereunder (such interest, the “Default Interest”) at a rate (such rate, the “Overdue Rate”) equal to the sum of two percent (2.00%) per annum plus
the Base Rate. Such Default Interest shall be distributed by the Administrative Agent (i) following the date and to the extent the Insurer paid such amounts not so paid or deposited when due hereunder to the 
  

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 Administrative Agent (for the benefit of the Purchasers or other applicable Secured Party) pursuant to the Insurance
Policy, to the Insurer pursuant to Section 2.12 or (ii) otherwise, to the Purchasers. All computations of Yield and all per annum fees hereunder shall be made on the basis of a year of 360 days for the actual number of days (including
the first but excluding the last day) elapsed. Any computations by the Administrative Agent or the Insurer of amounts payable by the Seller or the Servicer hereunder shall be binding upon the Seller, the Servicer and each other Raytheon Entity, as
applicable, absent manifest error. 
  
 SECTION 2.8 Reports.
By no later than 4:00 p.m. (New York City time) on the tenth (10th) Business Day after the end of each Fiscal Month,
or if such day is not a Business Day then on the next succeeding Business Day (each, a “Reporting Date”), the Servicer shall prepare and forward to the Administrative Agent, the Insurer and each of S&P and Moody’s a Monthly
Servicer Report, certified as to accuracy, by the Servicer. 
  
 SECTION 2.9 Blocked Accounts. (a) The Seller shall establish on or prior to the Closing Date and shall maintain a segregated account (the “Collection Account”), with a Blocked Account Bank pursuant to a Blocked
Account Agreement, which account shall bear a designation clearly indicating that the funds deposited therein are held for the benefit of the Administrative Agent, on behalf of the Secured Parties. The Administrative Agent shall have exclusive
dominion and control over the Collection Account and all monies, instruments and other property from time to time on deposit in the Collection Account; provided, however, that the Administrative Agent hereby agrees that it will not
terminate, assert its control, or give any notices with respect to the Collection Account without the prior written consent of the Insurer if at such time the Insurer is the Control Party (it being understood that the Administrative Agent
shall, prior to taking any of the foregoing actions at the direction of the Insurer, if the Insurer is the Control Party, be first indemnified, in accordance with Section 10.4, to its satisfaction by the Control Party for any such action
taken). The Servicer shall remit (or cause to be remitted) daily to the Collection Account, all Collections within five (5) Business Days (i) after deposit thereof into either of the Raytheon Aircraft and Affiliated Companies Account or the RACC
Intrust Bank Account and (ii) in the case of Collections otherwise received by any Raytheon Entity or any Affiliate of a Raytheon Entity, after identification by the Servicer of such funds as Collections. The Servicer shall cause the applicable
Blocked Account Bank to invest funds on deposit in the Collection Account in Eligible Investments maturing not later than the Business Day preceding the next Settlement Date. Earnings on such Eligible Investments shall be held in the Collection
Account until such amounts are to be paid and applied in accordance with and subject to the priorities for payment set forth in Section 2.12. On each Settlement Date, all funds on deposit in the Collection Account (other than Advance Payments
not then due and payable as identified in the related Monthly Servicer Report) shall be applied as Collections in accordance with and subject to the priorities for payment set forth in Section 2.12. On the Final Payout Date, any funds
remaining on deposit in the Collection Account shall be distributed in accordance with and subject to the priorities for payment set forth in Section 2.12. 
  
 (b) The Seller shall establish on or prior to the Closing Date and shall maintain segregated Lockbox Accounts (each, a
“Lockbox Account”), with a Blocked Account Bank pursuant to a Blocked Account Agreement, which accounts shall bear a designation clearly indicating that the funds deposited therein are held for the benefit of the Administrative
Agent, on behalf of the Secured Parties. The Administrative Agent shall have exclusive dominion and 
  

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 control over each Lockbox Account and all monies, instruments and other property from time to time on deposit therein;
provided, however, that the Administrative Agent hereby agrees that it will not terminate, assert its control, or give any notices with respect to any Lockbox Account without the prior written consent of the Insurer if at such time the
Insurer is the Control Party. The Servicer shall remit (or cause to be remitted) daily to the Collection Account all Collections received in any Lockbox Account. Funds on deposit in a Lockbox Account shall not be invested by the applicable Blocked
Account Bank, but rather shall be held in the Lockbox Account until such amounts are deposited into the Collection Account. 
  
 (c) The Seller shall establish on or prior to the Closing Date and the Administrative Agent shall maintain a segregated account (the “Cash Reserve
Account”), with the Cash Reserve Account Bank, which account shall be in the name of the Administrative Agent and shall bear a designation clearly indicating that the funds deposited therein are held in trust by the Administrative Agent,
for the benefit of the Secured Parties and the Seller. The Administrative Agent shall have exclusive dominion and control over the Cash Reserve Account and all monies, instruments and other property from time to time on deposit in the Cash Reserve
Account. On the date of the Investment hereunder, proceeds from the Investment in an amount equal to $19,756,076 (the “Deferred Investment Amount”) will be deposited into the Cash Reserve Account. The Cash Reserve Account Bank, at
the direction of the Administrative Agent, shall invest funds on deposit in the Cash Reserve Account in Eligible Investments maturing not later than the next Business Day. Earnings on such Eligible Investments shall be held in the Cash Reserve
Account until such amounts are to be paid in accordance with this Agreement. On any date after the date of the Investment hereunder that the Servicer delivers to the Control Party and the Administrative Agent (each such date, a “Deferred
Investment Request Date”), a Certificate of Perfection (i) if the Control Party (in its sole discretion) determines (such determination to be made within two (2) Business Days after the Deferred Investment Request Date), that the
Receivables and the other Affected Assets set forth in such Certificate of Perfection have satisfied each of the requirements set forth in this Agreement, the Control Party shall, within two (2) Business Days of its determination, issue a Notice of
Release to the Administrative Agent and, the Administrative Agent shall, within two (2) Business Days of its receipt of a Notice of Release, withdraw funds in the amount set forth in such Notice of Release (to the extent then on deposit in the Cash
Reserve Account) and remit such funds to the Seller (at the account set forth in Schedule 11.3 and (ii) if the Control Party determines that any of the Receivables or any other Affected Asset set forth in such Certificate of Perfection have
not satisfied the requirements set forth in this Agreement, the Control Party shall, within two (2) Business Days, so notify the Seller, the Servicer and the Administrative Agent as to which specific requirements have not been met, stating the
reasons for such failure to satisfy the requirements or that insufficient time was given to review the applicable documentation. If on the date that is six (6) months after the date of the Investment hereunder (the “Deferred Investment
Return Date”), the Investment Condition shall not have been satisfied (as determined by the Control Party in accordance with the terms of this Agreement), the Control Party shall notify the Administrative Agent, and the Administrative Agent
shall withdraw all amounts then on deposit in the Cash Reserve Account and remit such funds pro rata to the Purchasers, as their interests may appear for distribution in accordance with, and to be applied towards, clauses (v) and
(ix) of Section 2.12 (without giving effect to the parenthetical in clause (ix)) (it being understood that in the event that the entire Deferred Investment Amount is not paid to the Seller prior to the Deferred Investment
Return Date, the amount of the “Investment” as set forth in Section 2.2 shall be reduced by the amount of funds distributed to the Purchasers from the Cash Reserve Account). 
  

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 (d) Notwithstanding anything in this Agreement or any of the other Transaction Documents to the contrary,
each of the parties hereto, the Performance Guarantor and the Insurer hereby agree that the Cash Reserve Account Bank shall (i) not be liable to any such Person for any expense, claim, loss, damage or cost arising out of or relating to its
performance as Cash Reserve Account Bank other than those arising out of the Cash Reserve Account Bank’s gross negligence or willful misconduct or failure to comply with its obligations under this Agreement, (ii) in no event be liable for any
special, indirect, exemplary or consequential damages, including but not limited to lost profits, (iii) be excused from failing to act or delay in acting, and no such failure or delay shall give rise to any liability of the Cash Reserve Account
Bank, if: (a) such failure or delay is caused by circumstances beyond the Cash Reserve Account Bank’s reasonable control, including but not limited to, legal constraint, emergency conditions, action or inaction of governmental, civil or
military authority, fire, strike, lockout or other labor difficulties, war, riot, terrorism, flood, earthquake or other natural disaster, breakdown of public or private or common carrier communications or transmission facilities, equipment failure,
force majeure, court order or decree, the commencement of bankruptcy or other similar proceedings with respect to any Raytheon Entity or the Insurer or (b) such failure or delay resulted from Cash Reserve Account Bank’s reasonable belief that
the action would have violated any guideline, rule or regulation of any governmental authority, (iv) have no duty to inquire or determine whether any obligations of any party hereto have been satisfied or whether any of the parties hereto are in
default or whether the Control Party or the Administrative Agent are entitled to take any action or provide any notice hereunder or under any of the other Transaction Documents, and (v) be entitled to rely on notices and communications it believes
in good faith to be genuine and given by the appropriate party. The Servicer shall indemnify the Cash Reserve Account Bank against, and each of the parties hereto shall hold the Cash Reserve Account Bank harmless from, any and all liabilities,
claims, costs, expenses and damages of any nature in any way arising out of or relating to disputes or legal actions concerning this Agreement other than those arising out of the Cash Reserve Account Bank’s gross negligence or willful
misconduct. 
  
 SECTION 2.10 Sharing of Payments, Etc. If
any Purchaser (for purposes of this Section 2.10 only, being a “Recipient”) shall obtain any payment (whether voluntary, involuntary, through the exercise of any right of setoff, or otherwise) on account of the portion of the
Asset Interest owned by it (other than pursuant to the Purchaser Fee Letter, Section 3.3(b) or Article IX and other than as a result of the differences in the timing of the applications of Collections in accordance with and subject to
the priorities for payment set forth in Section 2.12 and other than a result of the different methods for calculating Yield) in excess of its ratable share of payments on account of the Asset Interest obtained by the Purchasers entitled
thereto, such Recipient shall forthwith purchase from the Purchasers entitled to a share of such amount participations in the portions of the Asset Interest owned by such Persons as shall be necessary to cause such Recipient to share the excess
payment ratably with each such other Person entitled thereto; provided, however, that if all or any portion of such excess payment is thereafter recovered from such Recipient, such purchase from each such other Person shall be
rescinded and each such other Person shall repay to the Recipient the purchase price paid by such Recipient for such participation to the extent of such recovery, together with an amount equal to such other Person’s ratable share (according to
the proportion of (a) the amount of such other Person’s required payment to (b) the total amount so recovered from the Recipient) of any interest or other amount paid or payable by the Recipient in respect of the total amount so recovered.

  

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 SECTION 2.11 Right of Setoff. Without in any way limiting the provisions of Section 2.10,
each of the Administrative Agent, each Purchaser and the Insurer is hereby authorized (in addition to any other rights it may have) at any time after the occurrence of the Termination Date due to the occurrence of an Event of Default or during the
continuance of an Unmatured Event of Default to set-off, appropriate and apply (without presentment, demand, protest or other notice which are hereby expressly waived) any deposits and any other indebtedness held or owing by the Administrative
Agent, such Purchaser or the Insurer to, or for the account of, the Seller against the amount of the Aggregate Unpaids owing by the Seller to such Person or to the Administrative Agent on behalf of such Person (even if contingent or unmatured).

  
 SECTION 2.12 Settlement Procedures; Order of
Application. On each Settlement Date, funds then on deposit in the Collection Account (other than Advance Payments not yet then due and payable as identified on the related Monthly Servicer Report or in such other instructions referred to below)
shall be released by the Collection Account Bank based on (i) prior to the delivery by the Administrative Agent of a “notice of control” (in accordance with the related Blocked Account Agreement) to the Collection Account Bank, the written
instructions of the Servicer received on the Reporting Date and (ii) on or after the delivery by the Administrative Agent of a “notice of control” to the Collection Account Bank, the written instructions of the Administrative Agent (which
shall be based upon written instructions provided to the Administrative Agent by the Control Party no later than the Business Day immediately preceding such Settlement Date), on such Settlement Date from the Collection Account for the following
purposes and in the following order of priorities, 
  
 (i) to the Servicer, unreimbursed Servicing Fees, if any; 
  
 (ii) to the Servicer, the Servicing Fee (to the extent not in excess of eighty-five basis points (0.85%) per annum on the aggregate Unpaid Balances of the Receivables at the end of the immediately preceding
Fiscal Month), and if the Servicer is not RACC or an Affiliate of RACC, Permissible Servicer Expenses (to the extent not previously reimbursed); 
  
 (iii) to the Insurer, if no Insurer Default has occurred and is continuing, the premium payable under the Insurance Premium Letter and all
amounts owed to the Insurer in connection with any transitioning of servicing to a successor Servicer (such amounts, in the aggregate, not to exceed one hundred fifty thousand dollars ($150,000)); 
  
 (iv) first, to the Purchasers, Yield accrued and unpaid
through the end of the immediately preceding Fiscal Month; provided, however, that in the event at any time on any Settlement Date the accrued and unpaid Yield shall exceed the amount which would have accrued at a per annum rate
equal to the Offshore Rate plus seventy-five basis points (0.75%) per annum, such excess shall be payable pursuant to clause (xi) of Section 2.12, and second, to the Insurer (to the extent previously paid by the Insurer
to the Administrative Agent on behalf of the Conduit Purchaser or the Alternate Purchaser) or 
  

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 to the Purchasers (to the extent not previously paid by the Insurer) all accrued and unpaid Yield (solely
to the extent such Yield did not exceed a per annum rate equal to the Offshore Rate plus seventy-five basis points (0.75%) per annum on such Settlement Date) due on previous Settlement Dates; 
  
 (v) first, to the Purchasers the Minimum Capital Payment if
any Minimum Capital Payment is due on such Settlement Date; and second, to the Insurer (to the extent previously paid by the Insurer to the Administrative Agent on behalf of the Conduit Purchaser or the Alternate Purchaser) or to the Purchasers (to
the extent not previously paid by the Insurer) all accrued and unpaid Minimum Capital Payments due on previous Settlement Dates; 
  
 (vi) to the Administrative Agent, the Administrative Agent Fee; 
  
 (vii) to the Insurer, amounts in or towards the reimbursement of claims paid under the Insurance Policy and,
if there is no Insurer Default then outstanding related to failure to pay amounts due under the Insurance Policy, any other unpaid amounts due to the Insurer; 
  

(viii) to the Servicer, (A) Permissible Servicer Expenses to the extent not previously reimbursed and (B) any Servicing Fee in excess
of the Servicing Fee paid pursuant to clause (ii) above; 
  
 (ix) to the Purchasers, Additional Capital Payments, to be applied toward the Minimum Capital Payments set forth on Annex A in the order of maturity until the Net Investment has been reduced to zero (it
being understood that the amount available for Additional Capital Payments pursuant to this clause (ix) shall be determined taking into account and after deduction for the amount of Permitted Dividends that would be payable pursuant to
the following clause (x) if no Additional Capital Payments were paid pursuant to this clause (ix)); 
  
 (x) subject to the satisfaction of each of the provisions of Section 2.14(b), to the Seller for distribution to its stockholders on
or after the first anniversary of the Closing Date, Permitted Dividends, if any, in an aggregate amount (including all other amounts, if any, previously paid to the Seller as Permitted Dividends) not to exceed the Maximum Permitted Dividend Amount
(it being understood that any amounts available as Permitted Dividends pursuant to this clause (x) shall be determined taking into account and after deduction for the amounts that would be payable pursuant to the following clause
(xi) if no Permitted Dividends were paid pursuant to this clause (x)); 
  
 (xi) first, any other amounts payable to the Purchasers, including, without limitation, any Indemnified Amounts and any Yield in excess of
a rate per annum equivalent of the Offshore Rate plus seventy-five basis points (0.75%) per annum, second, any other amounts payable to the Administrative Agent, and third, any other amounts payable, to the extent not previously
paid, to the Insurer; 
  

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 (xii) any amounts payable to the holders of any permitted subordinated interest in the
Receivables consented to by each of the Administrative Agent and, if applicable, the Insurer pursuant to Section 11.8; and 
  
 (xiii) any remaining amounts to the Seller. 
  
 SECTION 2.13 [Reserved]. 
  
 SECTION 2.14 Application of Collections Distributable to the Seller; Permitted Dividends. (a) The Servicer shall allocate and apply, on behalf of
the Seller, Collections distributable to the Seller hereunder first, to the payment or provision for payment of the Seller’s operating expenses and, thereafter, for the general corporate purposes of the Seller. 
  
 (b) Notwithstanding anything in this Agreement or in any of the other
Transaction Documents to the contrary, no amount of Collections shall be payable to the Seller as Permitted Dividends on any Settlement Date unless each of the following criteria are satisfied: 
  
 (i) such Settlement Date shall be a date occurring on or
after September 27, 2004; 
  
 (ii) the Minimum
Equity, calculated as of the end of the immediately preceding Fiscal Month, shall exceed thirteen percent (13%); 
  
 (iii) the Performance Guarantor shall have a controlling interest in Flight Options, unless each of the Administrative Agent and the
Control Party has previously given its written consent to a transfer of such controlling interest in Flight Options (it being understood that any decision made by such Person shall be made in good faith and in a commercially reasonable
manner) and the Servicer shall have provided each of the Rating Agencies with written notice of any transfer of such controlling interest; 
  
 (iv) as of the end of the immediately preceding Fiscal Month, the aggregate Unpaid Balance of all Receivables between 101 and 180 days
past due (excluding any past due interest on arrears) shall not exceed four percent (4%) of the aggregate of the Unpaid Balances of all Receivables; 
  
 (v) on such Settlement Date, the Net Investment shall represent no more than one hundred percent (100%) of the total value of (i) the
Aircraft as calculated with reference to the “Retail Value” of equivalent assets listed in the latest edition of the Aircraft Blue Book Price Digest published by PRIMEDIA Business Managers and Media (the “Blue Book Value”)
and (ii) Aircraft Fractional Shares as calculated with reference to the relevant share percentage applied to the Blue Book Value (it being understood that, in the event that either the Administrative Agent or the Control Party reasonably
determines that there is a material adverse change in the value of the Aircraft relative to the current Blue Book Value, such Person may request that desktop appraisals prepared by Back Aviation Solutions or another appraiser reasonably acceptable
to each of the Administrative Agent and the Control Party be obtained for such Aircraft, in which event such appraised value shall replace the Blue Book Value for purposes of making a determination pursuant to this clause (v); provided
that (y) the same Person shall not 
  

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 make such request more frequently than once per calendar year and (z) the aggregate annual cost of such
appraisals for which the Seller is responsible shall not exceed twenty thousand dollars ($20,000)); 
  
 (vi) on such Settlement Date (after giving effect to the payment of Permitted Dividends on such date) the aggregate amount of Collections
distributed to the Seller as Permitted Dividends shall not exceed the Maximum Permitted Dividend Amount; and 
  
 (vii) immediately prior to and immediately after giving effect to the application of Collections on such Settlement Date, no Event of
Default, Unmatured Event of Default or Servicer Default shall have occurred and be continuing. 
  
 (c) Notwithstanding anything in this Agreement or any other Transaction Document to the contrary, each of the parties hereto, the Performance Guarantor and the Insurer hereby expressly agree that any distributions of
the “Deferred Investment Amount” made directly from the Cash Reserve Account (as opposed to distributions made from Collections on deposit in the Collection Account) shall not be subject to the limitations on “Permitted
Dividends” set forth in this Section 2.14. 
  
 SECTION
2.15 Collections Held in Trust. So long as the Seller or the Servicer shall hold any Collections or Deemed Collections then or thereafter required to be paid by the Seller to the Servicer or the Collection Account or by the Seller or the
Servicer to the Administrative Agent or the Collection Account, it shall hold such Collections in trust, and, shall deposit (or cause to be deposited) such Collections or Deemed Collections within five (5) Business Days after its receipt thereof
into the Collection Account (or such other account as designated by the Administrative Agent at such time). The Net Investment shall not be deemed reduced by any amount held in trust or in the Collection Account unless and until, and then only to
the extent that, such amount is finally distributed to the Administrative Agent in accordance with and subject to the priorities for payment set forth in Section 2.12. 
  
 SECTION 2.16 Optional Repurchase by Transferor. As an administrative convenience, by providing the Administrative
Agent and the Insurer with ten (10) days’ prior written notice, the Transferor may on any Settlement Date on or after the date on which the aggregate Unpaid Balance of all Receivables (as calculated at the end of the immediately preceding
Fiscal Month) first becomes less than ten percent (10%) of the Investment and, so long as the repurchase price to be paid for the Receivables and all Affected Assets at such time is sufficient to pay in full the Net Investment at such time
plus accrued Yield and all other amounts owing to the Purchasers, the Administrative Agent, the Insurer (including in respect of the reimbursement of claims, if any, paid pursuant to the Insurance Policy) and the other Secured Parties,
purchase, in whole and not in part, all Receivables and other Affected Assets purchased (or substituted) for the benefit of the Secured Parties pursuant to this Agreement. 
  
 SECTION 2.17 Repurchase or Substitution of Receivables. (a) In the event that any representation or warranty relating
to any Receivable made as of the Closing Date was not true and correct in any material respect when made, which, at any time after the Closing Date, has a materially adverse impact on the collectibility of such Receivable or on the value of such
Receivable or the related Affected Assets taken as a whole, the Administrative Agent (with the 
  

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 prior written consent of the Control Party) may have the right at such time to, and at the written direction of the
Control Party at such time shall, require that: (i) the Seller repurchase the Purchasers’ interest in such Receivable by depositing into the Collection Account an amount equal to the Unpaid Balance of such Receivable plus accrued
interest thereon; or (ii) the Seller substitute another Eligible Receivable for such Receivable (an “Eligible Substitute Receivable”), which Eligible Substitute Receivable shall (A) have an Unpaid Balance (calculated as of the date
of substitution) equal to or greater than that of the then Unpaid Balance of the replaced Receivable and a remaining average life not more than ten percent (10%) greater than the remaining average life of such replaced Receivable, (B) be approved by
each of the Administrative Agent and the Control Party (in their respective reasonable credit judgment) as a Receivable acceptable for substitution hereunder, (C) satisfy the definition of “Eligible Receivable” at the time of such
substitution without regard to the Investment Condition and without regard to the reference to the Closing Date set forth at the beginning of the definition of Eligible Receivable, and (D) if (x) the Aircraft relating to the Receivable being
replaced is U.S. registered, the Aircraft relating to the substituted Receivable is also U.S. registered, (y) the Contract File for the Receivable being replaced contains recorded Security Agreements in favor of the Administrative Agent, then the
Contract File for the substituted Receivable will contain substantially equivalent recorded Security Agreements and (z) the Contract File for the Receivable being replaced does not contain any recorded Security Agreements in favor of the
Administrative Agent, then the Contract File for the substituted Receivable will not be required, on the date of substitution, to contain recorded Security Agreements (it being understood that (I) with respect to any Eligible Substitute
Receivable and the related Contract File referred to in clause (z), the Servicer shall, within six (6) months of the date of substitution and subject to terms set forth in Section 6.1(q), perform all actions with respect to such
Receivable, as would be required with respect to such Receivable if such Receivable were included on the Schedule of Receivables on the Closing Date, and (II) the Servicer shall direct the Obligor of each Eligible Substitute Receivable, not later
than the date of the substitution thereof, to make all payments on such Eligible Substitute Receivable to a Blocked Account or to the Collection Account). For the avoidance of doubt, a breach of the representation and warranty in Section
4.1(z) with respect to any Receivable will be deemed to have a material adverse effect on the value of such Receivable. 
  
 (b) With respect to each substitution pursuant to Section 2.17(a) above, the Servicer shall deliver (or cause to be delivered) to the
Administrative Agent and the Insurer, an updated Schedule of Receivables reflecting such substitution and the Servicer shall, subject to Section 2.17(a) above, have possession of each item required to be included in the related Contract File
with respect to such Eligible Substitute Receivable (and each such Eligible Substitute Receivable and all Affected Assets related thereto shall, subject to Section 2.17(a) above, be subject to the Administrative Agent’s security interest
for the benefit of the Secured Parties). The Administrative Agent shall authorize the filing of and/or execute such documents reasonably requested by the Servicer on behalf of the Seller in order to effect the reassignment and release of the
Receivable being repurchased or substituted pursuant to Section 2.17(a) above at such time and the Seller and the Servicer shall, subject to Section 2.17(a) above, take or cause to be taken all action (including delivery of the related
Contract File to a custodian pursuant to the terms of this Agreement and the authorization of the filing of financing statements in all applicable UCC jurisdictions with respect to any such Eligible Substitute Receivable) as may be reasonably
requested by either the Administrative Agent or the Control Party from time to time, to evidence, perfect and protect the Administrative Agent’s security interest (for the benefit of the Secured Parties) in any such Eligible Substitute
Receivable and all Affected Assets related thereto. 
  

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 ARTICLE III 
  
 ADDITIONAL ALTERNATE PURCHASER PROVISIONS 
  
 SECTION 3.1 Assignment to Alternate Purchasers. 
  
 (a) Assignment Amounts. At any time, if the Administrator on behalf of the Conduit Purchaser so elects, by written
notice to the Administrative Agent and the Servicer, the Servicer on behalf of the Seller hereby irrevocably requests and directs that the Conduit Purchaser assign, and the Conduit Purchaser does hereby assign, effective on the Assignment Date
referred to below all or such portions as may be elected by the Conduit Purchaser of its interest in the Net Investment and the Asset Interest at such time to the Alternate Purchasers pursuant to this Section 3.1; provided,
however, that no such assignment shall take place pursuant to this Section 3.1 at a time when an Event of Bankruptcy with respect to the Conduit Purchaser exists. No further documentation or action on the part of the Conduit Purchaser
or the Seller shall be required to exercise the rights set forth in the immediately preceding sentence, other than the giving of the notice by the Administrator on behalf of the Conduit Purchaser referred to in such sentence and the delivery by the
Administrative Agent of a copy of such notice to each Alternate Purchaser (the date of the receipt by the Administrative Agent of any such notice being the “Assignment Date”). Each Alternate Purchaser hereby agrees, unconditionally
and irrevocably and under all circumstances, without setoff, counterclaim or defense of any kind, to pay the full amount of its Assignment Amount on such Assignment Date to the Conduit Purchaser in immediately available funds to an account
designated by the Administrative Agent. Upon payment of its Assignment Amount, each Alternate Purchaser shall acquire an interest in the Asset Interest and the Net Investment equal to its pro rata share (based on the outstanding portions of
the Net Investment funded by it) of the Alternate Purchaser Percentage thereof. 
  
 (b) [Reserved]. 
  
 (c)
Administration of Agreement after Assignment from Conduit Purchaser to Alternate Purchasers following the Termination Date. After any assignment in whole by the Conduit Purchaser to the Alternate Purchasers pursuant to this Section 3.1
(and the payment of all amounts owing to the Conduit Purchaser in connection therewith), all rights of the Administrator set forth herein shall be given to the Administrative Agent on behalf of the Alternate Purchasers instead of the Administrator.

  
 (d) Payments to Administrative Agent’s Account.
After any assignment in whole by the Conduit Purchaser to the Alternate Purchasers pursuant to this Section 3.1, all payments to be made pursuant to this Agreement to the Conduit Purchaser shall be made to the Administrative Agent’s
account as such account shall have been notified to the Seller and the Servicer. 
  
 (e) Recovery of Net Investment. In the event that the aggregate of the Assignment Amounts paid by the Alternate Purchasers pursuant to this Section 3.1 on any Assignment Date occurring on or after the
Termination Date is less than the Net Investment of the Conduit 
  

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 Purchaser on such Assignment Date, then to the extent Collections thereafter received by the Administrative Agent
hereunder in respect of the Net Investment exceed the aggregate of the unrecovered Assignment Amounts and Net Investment funded by the Alternate Purchasers, such excess shall be remitted by the Administrative Agent to the Conduit Purchaser (or to
the Administrator on its behalf) for the account of the Conduit Purchaser. 
  
 SECTION 3.2 Downgrade of Alternate Purchaser. (a) Downgrades Generally. If at any time on or prior to the Termination Date, the short term debt rating of any Alternate Purchaser shall be “A-2”
or “P-2” from S&P or Moody’s, respectively, with negative credit implications, such Alternate Purchaser, upon request of the Administrative Agent, shall, within thirty (30) days of such request, assign its rights and obligations
hereunder to another financial institution (which institution’s short term debt rating shall be at least “A-2” or “P-2” from S&P or Moody’s, respectively, and which shall not be so rated with negative credit
implications and which is acceptable to the Conduit Purchaser and the Administrative Agent). If the short term debt rating of an Alternate Purchaser shall be “A-3” or “P-3”, or lower, from S&P or Moody’s, respectively
(or such rating shall have been withdrawn by S&P or Moody’s), such Alternate Purchaser, upon request of the Administrative Agent, shall, within five (5) Business Days of such request, assign its rights and obligations hereunder to another
financial institution (which institution’s short term debt rating shall be at least “A-2” or “P-2”, from S&P or Moody’s, respectively, and which shall not be so rated with negative credit implications and which is
acceptable to the Conduit Purchaser and the Administrative Agent). In either such case, if any such Alternate Purchaser shall not have assigned its rights and obligations under this Agreement within the applicable time period described above (in
either such case, the “Required Downgrade Assignment Period”), the Administrator on behalf of the Conduit Purchaser shall have the right to require such Alternate Purchaser to pay upon one (1) Business Day’s notice at any time
after the Required Downgrade Assignment Period (and each such Alternate Purchaser hereby agrees in such event to pay within such time) to the Administrative Agent an amount equal to such Alternate Purchaser’s unused Commitment (a
“Downgrade Draw”) for deposit by the Administrative Agent into an account, in the name of the Administrative Agent (a “Downgrade Collateral Account”), which shall be in satisfaction of such Alternate
Purchaser’s obligations to make the Investment and to pay its Assignment Amount upon an assignment from the Conduit Purchaser in accordance with Section 3.1; provided, however, that if, during the Required Downgrade
Assignment Period, such Alternate Purchaser delivers a written notice to the Administrative Agent of its intent to deliver a direct pay irrevocable letter of credit pursuant to this proviso in lieu of the payment required to fund the Downgrade Draw,
then such Alternate Purchaser will not be required to fund such Downgrade Draw. If any Alternate Purchaser gives the Administrative Agent such notice, then such Alternate Purchaser shall, within one (1) Business Day after the Required Downgrade
Assignment Period, deliver to the Administrative Agent a direct pay irrevocable letter of credit in favor of the Administrative Agent in an amount equal to the unused portion of such Alternate Purchaser’s Commitment, which letter of credit
shall be issued through an United States office of a bank or other financial institution (i) whose short term debt ratings by S&P and Moody’s are at least equal to the ratings assigned by such statistical rating organization to the
Commercial Paper and (ii) that is acceptable to the Conduit Purchaser and the Administrative Agent. Such letter of credit shall provide that the Administrative Agent may draw thereon for payment of the Investment or Assignment Amount payable by such
Alternate Purchaser which is not paid hereunder when required, shall expire no earlier than the Termination Date and shall otherwise be in form and substance acceptable to the Administrative Agent. 
  

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 (b) Application of Funds in Downgrade Collateral Account. If any Alternate Purchaser shall be
required pursuant to Section 3.2(a) to fund a Downgrade Draw, then the Administrative Agent shall apply the monies in the Downgrade Collateral Account applicable to such Alternate Purchaser’s Pro Rata Share of Investments required to be
made by the Alternate Purchasers, to any Assignment Amount payable by such Alternate Purchaser pursuant to Section 3.1 and to any purchase price payable by such Alternate Purchaser pursuant to Section 3.3(b) at the times, in the manner
and subject to the conditions precedent set forth in this Agreement. The deposit of monies in such Downgrade Collateral Account by any Alternate Purchaser shall not constitute an Investment or the payment of any Assignment Amount (and such Alternate
Purchaser shall not be entitled to interest on such monies except as provided below in this Section 3.2(b), unless and until (and then only to the extent that) such monies are used to fund Investments or to pay any Assignment Amount or
purchase price pursuant to Section 3.3(b) pursuant to the first sentence of this Section 3.2(b). The amount on deposit in such Downgrade Collateral Account shall be invested by the Administrative Agent in Eligible Investments and such
Eligible Investments shall be selected by the Administrative Agent in its sole discretion. The Administrative Agent shall remit to such Alternate Purchaser, on the last Business Day of each month, the income actually received thereon. Unless
required to be released as provided below in this Section 3.2(b), Collections received by the Administrative Agent in respect of such Alternate Purchaser’s portion of the Net Investment shall be deposited in the Downgrade Collateral
Account for such Alternate Purchaser. Amounts on deposit in such Downgrade Collateral Account shall be released to such Alternate Purchaser (or the stated amount of the letter of credit delivered by such Alternate Purchaser pursuant to Section
3.2(a) above may be reduced) within one (1) Business Day after each Settlement Date following the Termination Date to the extent that, after giving effect to the distributions made and received by the Purchasers on such Settlement Date, the
amount on deposit in such Downgrade Collateral Account would exceed such Alternate Purchaser’s Pro Rata Share (determined as of the day prior to the Termination Date) of the sum of all Portion of Investment then funded by the Conduit Purchaser,
plus the Interest Component. All amounts remaining in such Downgrade Collateral Account shall be released to such Alternate Purchaser no later than the Business Day immediately following the earliest of (i) the effective date of any
replacement of such Alternate Purchaser or removal of such Alternate Purchaser as a party to this Agreement, (ii) the date on which such Alternate Purchaser shall furnish the Administrative Agent with confirmation that such Alternate Purchaser shall
have short term debt ratings of at least “A-2” or “P-2” from S&P and Moody’s, respectively, without negative credit implications, and (iii) the Termination Date (or if earlier, the Termination Date in effect prior to any
renewal pursuant to Section 3.3 to which such Alternate Purchaser does not consent, but only after giving effect to any required purchase pursuant to Section 3.3(b)). Nothing in this Section 3.2 shall affect or diminish in any
way any such downgraded Alternate Purchaser’s Commitment to the Seller or the Conduit Purchaser or such downgraded Alternate Purchaser’s other obligations and liabilities hereunder and under the other Transaction Documents. 
  
 (c) Program Support Agreement Downgrade Provisions. Notwithstanding
the other provisions of this Section 3.2, an Alternate Purchaser shall not be required to make a Downgrade Draw (or provide for the issuance of a letter of credit in lieu thereof) pursuant to Section 3.2(a) at a time when such
Alternate Purchaser has a downgrade collateral account (or letter of credit in lieu thereof) established pursuant to the Program Support Agreement relating to the transactions contemplated by this Agreement to which it is a party in an amount at
least equal to its unused 
  

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 Commitment, and the Administrative Agent may apply monies in such downgrade collateral account in the manner described in
Section 3.2(b) as if such downgrade collateral account were a Downgrade Collateral Account. 
  
 SECTION 3.3 Non-Renewing Alternate Purchasers. (a) If at any time the Administrator requests that the Alternate Purchasers renew their Commitments
hereunder and some but less than all the Alternate Purchasers consent to such renewal within thirty (30) days of the Administrator’s request, the Administrator may arrange for an assignment to one or more financial institutions of all the
rights and obligations hereunder of each such non-consenting Alternate Purchaser in accordance with Section 11.8. Any such assignment shall become effective on the then-current Termination Date. Each Alternate Purchaser which does not so
consent to any renewal shall cooperate fully with the Administrator in effectuating any such assignment. 
  
 (b) If at any time the Administrator requests that the Alternate Purchasers extend the Termination Date hereunder and some but less than all the Alternate
Purchasers consent to such extension within thirty (30) days after the Administrator’s request, and if none or less than all the Commitments of the non-renewing Alternate Purchasers are assigned as provided in Section 3.3(a), then
(without limiting the obligations of all the Alternate Purchasers to make Investments and pay any Assignment Amount prior to the Termination Date in accordance with the terms hereof) the Conduit Purchaser may sell an interest in the Net Investment
and the Asset Interest hereunder for an aggregate purchase price equal to the lesser of (i) the maximum aggregate Assignment Amounts which would be payable if the Conduit Purchaser assigned its entire interest in the Asset Interest at that time
under Section 3.1, and (ii) the aggregate available Commitments of the non-renewing Alternate Purchasers, which purchase price shall be paid solely by the non-renewing Alternate Purchasers, pro rata according to their respective
Commitments. Following the payment of such purchase price, (x) the extended Termination Date shall be effective with respect to the renewing Alternate Purchasers, (y) the Facility Limit shall automatically be reduced by the aggregate of the
Commitments of all non-renewing Alternate Purchasers, and (z) this Agreement and the Commitments of the renewing Alternate Purchasers shall remain in effect in accordance with their terms notwithstanding the expiration of the Commitments of the
non-renewing Alternate Purchasers. Prior to the Termination Date, all amounts which, under Section 2.12 are to be applied in reduction of the Net Investment, up to the aggregate Net Investment sold to the non-renewing Alternate Purchasers as
described above in this Section 3.3(b), shall be distributed to the non-renewing Alternate Purchasers ratably according to the aggregate Investments held by them, in reduction of such Investments. On and after the Termination Date, each
non-renewing Alternate Purchaser shall be entitled to receive distributions as otherwise provided in Section 2.12, such that all distributions of Collections in accordance with and subject to the priorities for payment set forth in Section
2.12 thereafter shall be allocated among the non-renewing Alternate Purchasers and the other Alternate Purchasers in accordance with each such Alternate Purchaser’s pro rata share (based on its Investments as of the Termination Date)
of the Alternate Purchaser Percentage of the Net Investment. When (after the expiration of the Commitments of the non-renewing Alternate Purchasers) the aggregate of the Investments described above in this Section 3.3(b) shall have been
reduced to zero and all accrued Yield allocable thereto and all other Aggregate Unpaids owing to such Alternate Purchasers shall have been paid to such Alternate Purchasers in full, then such Purchasers shall cease to be parties to this Agreement
for any purpose. 
  

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 ARTICLE IV 
  
 REPRESENTATIONS AND WARRANTIES 
  
 SECTION 4.1 Representations and Warranties of the Originator, the Transferor, the Seller and the Servicer. Each of
the Originator, the Transferor, the Seller and the Servicer severally represents and warrants to the Secured Parties, that, on the Closing Date: 
  
 (a) Corporate Existence and Power. It (i) is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction
of incorporation, (ii) has all corporate power and all licenses, authorizations, consents and approvals of all Official Bodies required to carry on its business in each jurisdiction in which its business is now and proposed to be conducted (except
where the failure to have any such licenses, authorizations, consents and approvals would not individually or in the aggregate have a Material Adverse Effect) and (iii) is duly qualified to do business and is in good standing in every other
jurisdiction in which the nature of its business requires it to be so qualified, except where the failure to be so qualified or in good standing would not have a Material Adverse Effect. 
  
 (b) Corporate and Governmental Authorization; Contravention. The execution, delivery and performance by it of this
Agreement and the other Transaction Documents to which it is a party (i) are within its corporate powers, (ii) have been duly authorized by all necessary corporate and shareholder action, (iii) require no action by or in respect of, or filing with,
any Official Body or official thereof (except as contemplated by Sections 5.1(f), 5.1(g) and 7.7, all of which have been (or as of the Closing Date will have been) duly made and in full force and effect), (iv) do not contravene
or constitute a default under (A) its articles of incorporation or by-laws, (B) any Law applicable to it, (C) any contractual restriction binding on or affecting it or its property or (D) any order, writ, judgment, award, injunction, decree or other
instrument binding on or affecting it or its property, and (v) do not result in the creation or imposition of any Adverse Claim upon or with respect to its property or the property of any of its Subsidiaries (except as expressly provided by the
Transaction Documents). 
  
 (c) Binding Effect. Each of
this Agreement and the other Transaction Documents to which it is a party has been duly executed and delivered and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, subject to applicable
bankruptcy, insolvency, moratorium or other similar laws affecting the rights of creditors generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law). 
  
 (d) Perfection. In the case of (i) the Transferor, it is the owner of
each Leased Aircraft and, immediately prior to the transactions contemplated under the Sale and Conveyance Agreement, it is the owner of all of the Receivables and the Related Security (other than with respect to Aircraft or Aircraft Fractional
Shares related to Receivables the Contract with respect to which is a loan), and it holds a valid, perfected first priority security interest in all Aircraft or Aircraft Fractional Shares related to Receivables the Contract with respect to which is
a loan, in each case, free and clear of all Adverse Claims (other than any Permitted Lien) and upon the making of the Investment on the Closing Date, all financing statements and other documents required to be recorded or filed in order to perfect
and protect the interest of the Seller against all 
  

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 creditors of and purchasers from the Originator and the Transferor will have been duly filed in each filing office
necessary for such purpose and all filing fees and taxes, if any, payable in connection with such filings shall have been paid in full and (ii) the Seller, immediately after giving effect to the transactions contemplated under the Sale and
Conveyance Agreement, it is the owner of all of the Receivables and the Related Security, free and clear of all Adverse Claims (other than any Permitted Lien) and upon the making of the Investment on the Closing Date all financing statements and
other documents required to be recorded or filed in order to perfect and protect the interest of the Administrative Agent on behalf of the Secured Parties in the Receivables and other Affected Assets in connection therewith against all creditors of
and purchasers from the Originator, the Transferor and the Seller will have been duly filed in each filing office necessary for such purpose and all filing fees and taxes, if any, payable in connection with such filings shall have been paid in full.

  
 (e) Accuracy of Information. All information heretofore
furnished by it (including the Monthly Servicer Reports, any other reports delivered pursuant to Section 2.8 and its financial statements) to the Administrative Agent, the Administrator, any Purchaser or the Insurer for purposes of or in
connection with this Agreement, the other Transaction Documents, or any transaction contemplated hereby or thereby is, and all such information hereafter furnished by it to the Administrative Agent, the Administrator, any Purchaser or the Insurer
will be, true, complete and correct in every material respect, on the date such information is stated or certified, and no such item contains or will contain any untrue statement of a material fact or omits or will omit to state a material fact
necessary in order to make the statements contained therein, in the light of the circumstances under which they were made, not misleading (it being understood that with respect to any information received by the Seller or the Servicer from an
Obligor and furnished to the Administrative Agent, the Administrator, any Purchaser or the Insurer, the Seller and the Servicer, as applicable, represents that any such information, to its knowledge is true, complete and correct in every material
respect, on the date such information is stated or certified, and no such item contains or will contain any untrue statement of a material fact or omits or will omit to state a material fact necessary in order to make the statements contained
therein, in the light of the circumstances under which they were made, not misleading). 
  
 (f) Tax Status. It has (i) timely filed all federal, state and local tax returns or permitted extensions thereof in the United States and all other tax returns or permitted extensions thereof in foreign
jurisdictions required to be filed, (ii) paid or made adequate provision in accordance with GAAP for the payment of all taxes, assessments and other governmental charges and (iii) in the case of the Seller, accounted for the sale of the Asset
Interest hereunder, in its books and financial statements as sales, consistent with GAAP. 
  
 (g) Action, Suits. It is not in violation of any order of Official Body or arbitrator. Except as set forth in Schedule 4.1(g), there are no actions, suits, litigation or proceedings pending, or to its
knowledge, threatened, against or affecting it or any of its Affiliates or their respective properties, in or before any Official Body or arbitrator which could reasonably be expected to have a Material Adverse Effect. 
  
 (h) Use of Proceeds. In the case of the Seller, no proceeds of the
Investment will be used by it (i) to acquire any security in any transaction which is subject to Section 13 or 14 of the 
  

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 Securities Exchange Act of 1934, (ii) to acquire any equity security of a class which is registered pursuant to Section
12 of such act or (iii) for any other purpose that violates applicable Law, including Regulations T, U or X of the Federal Reserve Board. 
  
 (i) Principal Place of Business; Chief Executive Office; Location of Records. Its jurisdiction of incorporation (which is the only jurisdiction in
which it is incorporated), principal place of business, chief executive office and the offices where it keeps all its Records, are located at the address(es) described in Schedule 4.1(i) (and (a) with respect to the Originator and the
Transferor, it has been located at such locations at all times during the five-year period ending on the Closing Date and (b) with respect to the Seller, it has been located at such locations at all times since its incorporation) or such other
locations notified to the Administrative Agent and the Insurer in accordance with Section 7.7 in jurisdictions where all actions required by Section 7.7 have been taken and completed. 
  
 (j) Subsidiaries; Tradenames, Etc. With respect to the Transferor and
the Seller, as of the Closing Date: (i) it has no Subsidiaries (other than, with respect to the Transferor only, the Seller); (ii) it has operated only under its name set forth in the preamble to this Agreement, and has not changed its name, merged
with or into or consolidated with any other Person or been the subject of any proceeding under the Bankruptcy Code and (iii) Schedule 4.1(j) lists the correct federal employer identification number of the Transferor and the Seller. With
respect to the Servicer, as of the Closing Date: (i) has operated only under its name set forth in the preamble to this Agreement, and has not within five (5) years prior to the Closing Date, changed its name, merged with or into or consolidated
with any other Person or been the subject of any proceeding under the Bankruptcy Code, and (ii) Schedule 4.1(j) lists the correct federal employer identification number of the Servicer. 
  
 (k) Good Title. The Originator, the Transferor and the Seller intend
that (i) the sale, conveyance, transfer and assignment of all of the Originator’s right, title and interest in, to and under the Receivables and the other Affected Assets to the Transferor under the First Tier Agreement to be true sales of the
Affected Assets by the Originator to the Transferor for all purposes, providing the Transferor with the full risks and benefits of ownership of the Affected Assets (such that the Affected Assets would not be property of the Originator’s estate
in the event of an Event of Bankruptcy with respect to the Originator) and (ii) the sale, conveyance, transfer and assignment of all of the Transferor’s right, title and interest in, to and under the Receivables and the other Affected Assets to
the Seller under the Sale and Conveyance Agreement to be true sales of the Affected Assets by the Transferor to the Seller for all purposes, providing the Seller with the full risks and benefits of ownership of the Affected Assets (such that the
Affected Assets would not be property of the Transferor’s estate in the event of an Event of Bankruptcy with respect to the Transferor). Solely to the extent that (i) the First Tier Agreement does not effect a true sale of the Affected Assets
from RACC to the Transferor for all purposes and (ii) the Sale and Conveyance Agreement does not effect a true sale of the Affected Assets from the Transferor to the Seller for all purposes, as applicable, (A) the First Tier Agreement creates in
favor of the Transferor a legal, valid and enforceable security interest in the Affected Assets which security interest has been assigned by the Transferor to the Seller in accordance with the terms of the Sale and Conveyance Agreement and further
assigned by the Seller to the Administrative Agent (on behalf of the Secured Parties) in accordance with the terms of this Agreement; and the Sale and Conveyance Agreement creates in favor of the Seller a 
  

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 legal, valid and enforceable security interest in the Affected Assets which security interest has been assigned by the
Seller to the Administrative Agent (on behalf of the Secured Parties) in accordance with the terms of this Agreement. The Seller, the Administrative Agent and the Purchasers intend that the sale, conveyance, transfer and assignment of all of the
Seller’s right, title and interest in, to and under the Receivables and the other Affected Assets to the Administrative Agent (on behalf of the Secured Parties) hereunder shall be treated as a sale for all purposes, other than federal and state
income tax purposes. Solely to the extent that this Agreement does not affect a true sale of the Affected Assets from the Seller to the Administrative Agent (on behalf of the Secured Parties), this Agreement creates in favor of the Administrative
Agent (on behalf of the Secured Parties) a legal, valid and enforceable security interest in the Affected Assets, together with a security interest in any Affected Assets that were the subject of a true sale from the Originator to the Transferor
under the First-Tier Agreement or from the Transferor to the Seller under the Sale and Conveyance Agreement. No authorization, approval or other action by, and no notice to or filing with, any Official Body that has not already been taken or made
and which is in full force and effect, is required for the grants of security interest described in the immediately preceding sentence. Upon the Investment, the Administrative Agent (on behalf of the Secured Parties) shall acquire a legal, valid and
enforceable perfected first priority ownership interest in each Receivable and all other Affected Assets, that exist on the Closing Date, free and clear of any Adverse Claim (other than any Permitted Lien) or, if the Administrative Agent (on behalf
of the Secured Parties) does not acquire such a first priority ownership interest, then, upon the Investment, the Administrative Agent (on behalf of the Secured Parties) shall acquire a first priority perfected security interest in each Receivable
and all other Affected Assets, that exist on the Closing Date, free and clear of any Adverse Claim (other than any Permitted Lien). 
  
 (l) Nature of Receivables. Each Receivable listed on the Schedule of Receivables satisfies the definition of “Eligible Receivable” set
forth herein on the Closing Date. It has no knowledge of any fact (including any defaults by the Obligor thereunder on any other Receivable) that would cause it or should have caused it to expect any payments on such Receivable not to be paid in
full when due or that is reasonably likely to cause or result in any other Material Adverse Effect with respect to such Receivable. 
  
 (m) Credit and Collection Policy. Since August 31, 2003, there have been no material changes in the Credit and Collection Policy other than in
accordance with this Agreement. Since such date, no material adverse change has occurred in the overall rate of collection of the Receivables. In the case of the Transferor, the Seller and the Servicer, it has at all times materially complied with
the Credit and Collection Policy with regard to each Receivable and each Contract, and in the case of the Originator, it has at all times materially complied with each Receivable and each Contract, as applicable. 
  
 (n) Material Adverse Effect. With respect to the Originator, the
Transferor and the Servicer, since December 31, 2002, there has been no Material Adverse Effect, and with respect to the Seller, since its formation, there has been no Material Adverse Effect. 
  
 (o) No Event of Default. No event has occurred and is continuing and
no condition exists, or would result from the Investment or from the application of the proceeds therefrom, which constitutes an Event of Default or an Unmatured Event of Default. 
  

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 (p) Not an Investment Company or Holding Company. It is not, and is not controlled by, an
“investment company” within the meaning of the Investment Company Act of 1940, or is exempt from all provisions of such act. It is not a “holding company,” or a subsidiary or affiliate of a “holding company,” within the
meaning of the Public Utility Holding Company Act of 1935. 
  
 (q)
ERISA. Each of the Originator, the Transferor and the Seller and their ERISA Affiliates is in compliance in all material respects with the applicable provisions of ERISA and the Code and the regulations and published interpretations
thereunder. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events, could reasonably be expected to result in a Material Adverse Effect. The present value of all benefit liabilities
under all Pension Plans (based on those assumptions used to fund each such Pension Plan) did not, as of the last certified annual valuation date of January 1, 2002, exceed the fair market value of the assets of all Pension Plans as of such date, and
the present value of all benefit liabilities of all underfunded Pension Plans (based on those assumptions used to fund each such Pension Plan) did not, as of the last certified annual valuation dates applicable thereto before the Closing Date,
exceed by more than two hundred eighty million dollars ($280,000,000) the fair market value of the assets of all such underfunded Pension Plans as of such dates. However, it is anticipated that as of the next annual certification date of January 1,
2003, the present value of all benefit liabilities under all Pension Plans will exceed the fair market value of the assets of all Pension Plans and that there will be a material increase in the levels of underfundings. 
  
 (r) Blocked Accounts. The names and addresses of all the Blocked
Account Banks, together with the account numbers of the Blocked Accounts at such Blocked Account Banks, are as specified in Schedule 4.1(r) (or at such other Blocked Account Banks and/or with such other Blocked Accounts as have been approved
by the Administrative Agent and the Control Party in writing and for which Blocked Account Agreements have been executed in accordance with Section 7.3 and copies of which have been delivered to the Servicer, the Administrative Agent and the
Control Party). All Blocked Accounts are subject to Blocked Account Agreements. Within five (5) Business Days after the Closing Date, the Servicer will instruct all Obligors to make payments with respect to Receivables directly to a Blocked Account
or to the Collection Account or to post office boxes or lock-boxes to which only Blocked Account Banks have access. No funds other than Collections will be deposited into the Blocked Accounts, and, with respect to the Receivables, all amounts
received by any of the Originator, the Transferor, the Seller or the Servicer representing interest accrued thereon from the period on and after the Cut-Off Date through the Closing Date shall be deposited into the Collection Account within five (5)
Business Days after the Closing Date. 
  
 (s) Bulk Sales.
In the case of the Originator, the Transferor and the Seller, no transaction contemplated by this Agreement or the other Transaction Documents requires compliance with any bulk sales act or similar law. 
  
 (t) Transfers Under First Tier Agreement and Sale and Conveyance
Agreement. In the case of the Originator and the Transferor, each Receivable, the related Leased Aircraft and all other Affected Assets (other than Aircraft and Aircraft Fractional Shares related to a Receivable which arises under a Contract
which is a loan) have been purchased or the prior purchase has 
  

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 been reaffirmed, by it pursuant to, and in accordance with, the terms of the First Tier Agreement, and the Originator has
no further right, title or interest therein. In the case of the Transferor and the Seller, each Receivable and all Affected Assets (other than the Aircraft) have been sold or purchased, as applicable, by it pursuant to, and in accordance with, the
terms of the Sale and Conveyance Agreement, and the Transferor has no further right, title or interest therein (other than title with respect to the Leased Aircraft). 
  
 (u) Preference; Voidability. In the case of the Originator and the Transferor, the Transferor has given reasonably
equivalent value to the Originator, in consideration for the transfer to it by the Originator of the Originator’s interest in the Affected Assets, and such transfer has not been made for or on account of an antecedent debt owed by the
Originator to the Transferor and no such transfer is or may be voidable under any section of the Bankruptcy Code. In the case of the Transferor and the Seller, the Seller has given reasonably equivalent value to the Transferor, in consideration for
the transfer to it by the Transferor of the Transferor’s interest in the Affected Assets (other than title to the Leased Aircraft), and such transfer was not made for or on account of an antecedent debt owed by the Transferor to the Seller and
no such transfer is or may be voidable under any section of the Bankruptcy Code. 
  
 (v) Nonconsolidation. Each of the Transferor and the Seller is operated in such a manner that the separate corporate existence of each of the Transferor and the Seller, on the one hand, and the Originator or
any Affiliate thereof, on the other, would not be disregarded in the event of the bankruptcy or insolvency of any of the Originator or any Affiliate thereof, the Transferor or the Seller and, without limiting the generality of the foregoing:

  
 (i) each of the Transferor and the Seller is
a limited purpose corporation whose activities are restricted in its certificate of incorporation to activities related to purchasing or otherwise acquiring receivables (including the Receivables) and related assets and rights and conducting any
related or incidental business or activities it deems necessary or appropriate to carry out its primary purpose, including entering into agreements like the Transaction Documents; 
  
 (ii) neither the Transferor nor the Seller has engaged, or presently engages, in any activity other than
those activities expressly permitted hereunder and under the other Transaction Documents, nor has the Transferor or the Seller entered into any agreement other than this Agreement, the other Transaction Documents to which it is a party, and with the
prior written consent of each of the Administrative Agent and the Control Party, any other agreement necessary to carry out more effectively the provisions and purposes hereof or thereof; 
  
 (iii) (A) each of the Transferor and the Seller maintains
its own deposit account or accounts, separate from those of any of its Affiliates, with commercial banking institutions, (B) the funds of the Transferor and the Seller are not and have not been diverted to any other Person for any use other than the
corporate use of the Transferor or the Seller, as applicable and (C), except as may be expressly permitted by this Agreement and except, in the case of the Transferor only, in connection with the Performance Guarantor’s integrated cash
management system, the funds of the Transferor and the Seller are not and have not been commingled with those of any other Person; 
  

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 (iv) to the extent that the Transferor or the Seller contracts or does business with
vendors or service providers where the goods and services provided are partially for the benefit of any other Person, the costs incurred in so doing are fairly allocated to or among the Transferor or the Seller, as the case may be, and such entities
for whose benefit the goods and services are provided, and the Transferor and the Seller, as the case may be, and each such entity bears its fair share of such costs; and all material transactions between the Transferor or the Seller, as applicable,
and any of their respective Affiliates shall be only on an arm’s-length basis; 
  
 (v) each of the Transferor and the Seller maintains a principal executive and administrative office through which its business is
conducted and a telephone number and stationery through which all business correspondence and communication are conducted, in each case separate from those of its Affiliates; 
  
 (vi) each of the Transferor and the Seller conducts its affairs strictly in accordance with its certificate
of incorporation and observes all necessary, appropriate and customary corporate formalities, including (A) holding all regular and special stockholders’ and directors’ meetings appropriate to authorize all corporate action (which, in the
case of regular stockholders’ and directors’ meetings, are held at least annually), (B) keeping separate and accurate minutes of such meetings, (C) passing all resolutions or consents necessary to authorize actions taken or to be taken,
and (D) maintaining accurate and separate books, records and accounts, including intercompany transaction accounts; 
  
 (vii) all decisions with respect to its business and daily operations are independently made by the Transferor or the Seller, as
applicable (although the officer making any particular decision may also be an employee, officer or director of an Affiliate of the Transferor or the Seller, as applicable) and are not dictated by any Affiliate of the Transferor or the Seller (it
being understood that the Servicer, which is an Affiliate of the Transferor and the Seller, will undertake and perform all of the operations, functions and obligations of it set forth herein and it may appoint Sub-Servicers, which may be
Affiliates of the Transferor and the Seller, to perform certain of such operations, functions and obligations); 
  
 (viii) each of the Transferor and the Seller acts solely in its own corporate name and through its own authorized officers and agents, has
not held itself out as a “division” or “part” of any other Person, and no Affiliate of such Person shall be appointed to act as its agent, except as expressly permitted by this Agreement and the other Transaction Documents;

  
 (ix) no Affiliate of the Transferor or the
Seller advances funds to the Transferor or the Seller, other than as is otherwise expressly provided herein or in the other Transaction Documents, and no Affiliate of the Transferor or the Seller otherwise supplies funds to, or guaranties debts of,
the Transferor or the Seller; provided, however, that the Transferor, as an Affiliate of the Seller, may provide funds to the Seller in connection with the capitalization of the Seller; 
  

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 (x) other than organizational expenses and as expressly provided herein, each of the
Transferor and the Seller pays all expenses, indebtedness and other obligations incurred by it; 
  
 (xi) neither the Transferor nor the Seller guarantees, or is otherwise liable for, any obligation of any of their respective Affiliates;

  
 (xii) any financial reports required of the
Transferor and the Seller comply with generally accepted accounting principles and are issued separately from, but may be consolidated with, any reports prepared for any of their respective Affiliates; 
  
 (xiii) each of the Transferor and the Seller is adequately
capitalized to engage in the transactions contemplated in its certificate of incorporation; 
  
 (xiv) neither the Transferor nor the Seller acts as agent for the other or any Affiliate thereof, but instead presents itself to the
public as a corporation separate from each such member and independently engaged in the business of purchasing and financing Receivables; 
  
 (xv) each of the Transferor and the Seller maintains a five person board of directors, including at least one independent director who has
never been, and shall at no time be, a stockholder, director, officer, employee or associate, or any relative of the foregoing, of any Affiliate of the Transferor or the Seller (other than the Seller and any other bankruptcy-remote special purpose
entity formed for the sole purpose of securitizing, or facilitating the securitization of, financial assets of the Transferor or any Affiliate thereof), all as provided in its certificate of incorporation, and is otherwise reasonably acceptable to
the Administrative Agent and the Insurer; 
  
 (xvi) the bylaws or the certificate of incorporation of each of the Transferor and the Seller require (A) the affirmative vote of an independent director before a voluntary petition under Section 301 of the Bankruptcy Code may be filed by
such Person, and (B) such Person to maintain correct and complete books and records of account and minutes of the meetings and other proceedings of its stockholders and board of directors; and 
  
 (xvii) RACC hereby agrees that it will retain all ERISA
liabilities related to its employees who provide services to GARC or RARC, and GARC or RARC, respectively, will pay to RACC its pro rata share of ERISA contributions for RACC’s employees who provide services to GARC or RARC, respectively.

  
 Without limiting the foregoing, all of the factual statements
and assumptions relating to the Transferor and the Seller that are set forth in each of the “true sale” and “non-consolidation” opinions of Bingham McCutchen LLP, delivered pursuant to Section 5.1, are true and correct.

  
 (w) Representations and Warranties in other Transaction
Documents. Each of the representations and warranties made by it contained in any of the Transaction Documents (other 
  

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 than this Agreement) to which it is a party is true, complete and correct in all respects and it hereby makes each such
representation and warranty to, and for the benefit of, the Administrative Agent, the Administrator, the Purchasers and the Insurer, as if the same were set forth in full herein and each of the Originator and the Transferor hereby ratifies all of
the Transaction Documents previously executed by it and confirms that except as modified hereby, each such Transaction Document remains in full force and effect. 
  
 (x) No Servicer Default. No event has occurred and is continuing and no condition exists, or would result from the
Investment or from the application of the proceeds therefrom, which constitutes a Servicer Default or an Unmatured Servicer Default. 
  
 (y) Parties Necessary to Amend Prior Purchase and Sale Agreement. Each of the Originator and the Transferor hereby represents and warrants that all
parties necessary to amend and restate the Prior Purchase and Sale Agreement are parties to this Agreement. 
  
 (z) No Extension. The Originator, the Transferor, the Seller and the Servicer have not granted any payment extension of the terms of any Receivable
or any Contract related to any Receivable, nor any right on the part of the related Obligor to implement any extension, other than (i) extensions granted prior to the Cut-off Date which have been paid in full prior to the Cut-off Date or (ii) as
disclosed in the “Extended Receivables” section in Schedule II to a date no later than the maturity date for such Receivable set forth in Schedule IV. 
  
 (aa) No Defaults. The Originator, the Transferor, the Seller and the Servicer are not in default under any material
contract, lease agreement, instrument or commitment to which such Person is a party which has or would have a Material Adverse Effect. 
  
 (bb) Indonesian Aircraft. With respect to the Originator, the Transferor and the Servicer, title to the two (2) Indonesian Aircraft listed on
Schedule IV was transferred by Raytheon Aircraft Credit Special Purpose Company, a Kansas corporation (“RACSPC”), to RACC pursuant to bills of sale executed by RACSPC, subject to the assignment and novation in favor of RACC
of the underlying lease Receivables pursuant to novation agreements executed by RACSPC, RACC, RARC and the related lessees, in consideration for RACC’s repayment in full of the mortgage loans made by RACC, in the case of one Indonesian
Aircraft, and by RARC, in the case of the other, that were secured by the respective Indonesian Aircraft, which consideration was determined by RACSPC, RACC and RARC in good faith to be the fair market value of such Indonesian Aircraft. 

 
 SECTION 4.2 Additional Representations and Warranties of the Originator
and the Servicer. The Originator and the Servicer each for itself only represents and warrants on the Closing Date to the Administrative Agent, the Administrator, the Purchasers and the Insurer, which representation and warranty shall survive
the execution and delivery of this Agreement, that (a) each of the representations and warranties of the Originator and the Servicer (whether made in its individual capacity or as the Originator or the Servicer, as applicable) contained in any
Transaction Document to which it is a party is true, complete and correct and, if made by the Originator or the Servicer in its individual capacity, applies with equal force to the Originator or the Servicer, as applicable, in its capacity as the
Originator or the Servicer, as applicable, and the Originator and the Servicer each hereby makes each such representation and warranty to, and for 
  

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 the benefit of, the Administrative Agent, the Administrator, the Purchasers and the Insurer, as if the same were set
forth in full herein, and (b) without limiting the foregoing, all of the factual statements and assumptions relating to the Originator and the Servicer that are set forth in each of the “true sale” and “non-consolidation”
opinions of Bingham McCutchen LLP, delivered pursuant to Section 5.1, are true and correct. 
  
 ARTICLE V 
  
 CONDITIONS PRECEDENT 
  
 SECTION 5.1 Conditions
Precedent to Closing and Investment. The occurrence of the Closing Date, the effectiveness of the Commitments hereunder and the Investment shall be subject to the conditions precedent that (i) the Transferor and the Seller shall have paid in
full (A) all amounts required to be paid by either of them on or prior to the Closing Date pursuant to each of the Fee Letters and (B) the fees and expenses described in clause (a)(i) of Section 9.4 and invoiced prior to the Closing
Date, and (ii) each of (A) the Administrative Agent shall have received, for itself and each of the Purchasers and the Administrative Agent’s counsel, and (B) the Insurer shall have received, for itself and its counsel, an original (unless
otherwise indicated) of each of the following, each dated (if applicable) the Closing Date (unless otherwise indicated) and each in form and substance satisfactory to the Administrative Agent and the Insurer and each of their respective counsel
(unless otherwise indicated). 
  
 (a) A duly executed counterpart
of this Agreement, the First Tier Agreement, the Sale and Conveyance Agreement, the Administrative Agent Fee Letter, the Purchaser Fee Letter, the Insurance Premium Letter, the Performance Guaranty, the Insurance and Reimbursement Agreement, the
Insurance Policy and each of the other Transaction Documents to which each of the Originator, the Transferor, the Seller, the Servicer and the Performance Guarantor, as applicable, is a party (other than the Security Agreements, in which case the
Investment Condition shall have been satisfied with respect to such Security Agreements). 
  
 (b) A certificate of the secretary or assistant secretary of the Seller, certifying and (in the case of clauses (i) through (iii)) attaching as exhibits thereto, among other things: 
  
 (i) the articles of incorporation, charter or other
organizing document of the Seller (certified by the Secretary of State or other similar official of the Seller’s jurisdiction of incorporation or organization, as applicable, as of a recent date); 
  
 (ii) the by-laws of the Seller; 
  
 (iii) the resolutions of the board of directors or other
governing body of the Seller authorizing the execution, delivery and performance by the Seller of this Agreement, the Sale and Conveyance Agreement and the other Transaction Documents to be delivered by the Seller hereunder or thereunder and all
other documents evidencing necessary corporate action (including shareholder consents, if required) and government approvals, if any; and 
  

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 (iv) the incumbency, authority and signature of each officer of the Seller executing the
Transaction Documents or any certificates or other documents delivered hereunder or thereunder on behalf of the Seller. 
  
 (c) A certificate of the secretary or assistant secretary of each of the Originator, the Transferor and the Servicer certifying and (in the case of
clauses (i) through (iii)) attaching as exhibits thereto, among other things: 
  
 (i) the articles of incorporation, charter or other organizing document of each of the Originator, the Transferor and the Servicer
(certified by the Secretary of State or other similar official of its jurisdiction of incorporation or organization, as applicable, as of a recent date); 
  
 (ii) the by-laws of each of the Originator, the Transferor and the Servicer; 
  
 (iii) resolutions of the board of directors or other
governing body of each of the Originator, the Transferor and the Servicer authorizing the execution, delivery and performance by it of this Agreement, the Sale and Conveyance Agreement, the First Tier Agreement and the other Transaction Documents to
be delivered by it hereunder or thereunder and all other documents evidencing necessary corporate action (including shareholder consents, if required) and government approvals, if any; and 
  
 (iv) the incumbency, authority and signature of each officer
of the Originator, the Transferor and the Servicer executing the Transaction Documents or any certificates or other documents delivered hereunder or thereunder on its behalf. 
  
 (d) A good standing certificate for the Seller issued by the Secretary of State or a similar official of the Seller’s
jurisdiction of incorporation or organization, as applicable, and certificates of qualification as a foreign corporation issued by the Secretaries of State or other similar officials of each jurisdiction where such qualification is material to the
transactions contemplated by this Agreement and the other Transaction Documents, in each case, dated as of a recent date. 
  
 (e) A good standing certificate for each of the Originator, the Transferor and the Servicer issued by the Secretary of State or a similar official of its
jurisdiction of incorporation or organization, as applicable, and certificates of qualification as a foreign corporation issued by the Secretaries of State or other similar officials of each jurisdiction where such qualification is material to the
transactions contemplated by this Agreement and the other Transaction Documents, in each case, dated as of a recent date. 
  
 (f) Evidence of filing, acceptable to the Administrative Agent and the Insurer, of proper financing statements (Form UCC-1), filed on or before the
Closing Date naming the Seller, as debtor, in favor of the Administrative Agent, as secured party, for the benefit of the Secured Parties, or, subject to the Investment Condition, other similar instruments or documents as may be necessary or in the
reasonable opinion of the Administrative Agent or the Insurer desirable under the UCC of all appropriate jurisdictions or any comparable law to perfect the Administrative Agent’s ownership or security interest in all Receivables and the other
Affected Assets. 
  

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 (g) Evidence of filing, acceptable to the Administrative Agent and the Insurer, of proper financing
statements (Form UCC-1), filed on or before the Closing Date naming the Transferor, as debtor, the Seller, as secured party and the Administrative Agent, as assignee of secured party, or, subject to the Investment Condition, other similar
instruments or documents as may be necessary or in the reasonable opinion of the Administrative Agent or the Insurer desirable under the UCC of all appropriate jurisdictions or any comparable law to perfect the Seller’s ownership or security
interest in all Receivables and the other Affected Assets (other than with respect to any ownership interest in the related Aircraft or Aircraft Fractional Shares) and to perfect the Administrative Agent’s security interest in all Receivables
and the other Affected Assets. 
  
 (h) Evidence of filing,
acceptable to the Administrative Agent and the Insurer, of proper financing statements (Form UCC-1), filed on or before the Closing Date naming the Originator, as debtor, the Transferor, as secured party and the Administrative Agent, as assignee of
secured party, or, subject to the Investment Condition, other similar instruments or documents as may be necessary or in the reasonable opinion of the Administrative Agent or the Insurer desirable under the UCC of all appropriate jurisdictions or
any comparable law to perfect the Transferor’s ownership interest in the Affected Assets and to perfect the Administrative Agent’s security interest in the Affected Assets. 
  
 (i) Evidence of filing, acceptable to the Administrative Agent and the Insurer, of proper financing statements (Form UCC-3),
if applicable, filed on or before the Closing Date necessary to terminate all security interests and other rights of any Person (other than title to the Aircraft or Aircraft Fractional Shares, which shall remain in favor of the Transferor in the
case of Leased Aircraft or the Obligor in the case of loans) in Receivables and the other Affected Assets previously granted by the Seller. 
  
 (j) Evidence of filing, acceptable to the Administrative Agent and the Insurer, of proper financing statements (Form UCC-3), if applicable, filed on or
before the Closing Date necessary to terminate all security interests (other than any Permitted Lien) and other rights of any Person (other than Obligors) in Receivables or the other Affected Assets previously granted by the Transferor (other than
those filed in favor of Bank of America in connection with the Prior Purchase and Sale Agreement). 
  
 (k) Evidence of filing, acceptable to the Administrative Agent and the Insurer, of proper financing statements (Form UCC-3), if applicable, filed on or
before the Closing Date necessary to terminate all security interests (other than any Permitted Lien) and other rights of any Person (other than Obligors) in Receivables or the other Affected Assets previously granted by the Originator (other than
those filed in favor of Bank of America in connection with the Prior Purchase and Sale Agreement). 
  
 (l) Search reports from a third-party search company acceptable to the Administrative Agent and the Insurer, dated a date reasonably near the Closing
Date, listing all effective financing statements which name the Originator, the Transferor or the Seller (under 
  

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 their respective present names and any previous names) as debtor and which are filed in jurisdictions in which the
filings were made pursuant to clauses (f), (g) or (h) above and such other jurisdictions where the Administrative Agent or the Insurer may reasonably request, together with copies of such financing statements (none of which
shall cover any Receivables other Affected Assets), and similar search reports with respect to judgments, state tax liens, federal tax liens and liens of the Pension Benefit Guaranty Corporation in such jurisdictions, showing no such liens (other
than any Permitted Lien) on any of the Receivables or on the other Affected Assets. 
  
 (m) Evidence that each Blocked Account required to be established pursuant to this Agreement (including the Collection Account) has been established in accordance with the terms hereof, and executed copies of each of
the Blocked Account Agreements relating to each of the Blocked Accounts, and the Servicer shall have the processes in place to insure that all Collections from and after the Cut-off Date have been deposited in the Collection Account within five (5)
Business Days after the Seller’s or the Servicer’s receipt thereof. 
  
 (n) A favorable opinion, dated the Closing Date and addressed to the Administrative Agent, each Purchaser, the Insurer and each of the Rating Agencies, of Martin, Pringle, Oliver, Wallace & Bauer L.L.P., special
counsel to the Originator and the Transferor, covering certain UCC perfection and priority matters and such other matters as the Administrative Agent or Insurer may reasonably request. 
  
 (o) Favorable opinion(s), dated the Closing Date and addressed to the Administrative Agent, each Purchaser, the Insurer and
each of the Rating Agencies, of Bingham McCutchen LLP, special counsel to the Raytheon Entities, covering (i) certain UCC perfection and priority matters (based on UCC search reports) and certain corporate matters of the Seller including, but not
limited to, non-contravention, (ii) “true sale” and “non-consolidation” matters, (iii) enforceability matters and (iv) such other matters as the Administrative Agent or the Insurer may reasonably request. 
  
 (p) A favorable opinion, dated the Closing Date and addressed to the
Administrative Agent, each Purchaser, the Insurer and each of the Rating Agencies, of in-house counsel to each Raytheon Entity (other than the Seller) which is party to a Transaction Document, covering certain corporate matters, including, but not
limited to, non-contravention and such other matters as the Administrative Agent or the Insurer may reasonably request. 
  
 (q) A favorable opinion, dated the Closing Date and addressed to the Administrative Agent, each Purchaser and each of the Rating Agencies, of in-house
counsel to the Insurer, covering such matters as the Administrative Agent may reasonably request, in form and substance satisfactory to the Administrative Agent and its counsel. 
  
 (r) A Schedule of Receivables identifying all Receivables and the respective Unpaid Balance and accrued interest with
respect thereto as of the Cut-off Date, and such other information as the Administrative Agent or the Insurer may reasonably request. 
  
 (s) Satisfactory results of a review and audit of the Servicer’s collection, operating and reporting systems, the Credit and Collection Policy,
historical receivables data and accounts, 
  

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 including satisfactory results of a review of the Servicer’s operating location(s) and satisfactory review and
approval by the Administrative Agent and the Control Party of the Eligible Receivables in existence on the Cut-off Date and a written outside audit report of Ernst & Young or another nationally-recognized accounting firm satisfactory to the
Administrative Agent and the Insurer as to such matters. 
  
 (t)
Evidence of the appointment of CT Corporation System as agent for service of process as required by Section 11.4. 
  
 (u) Evidence from each of the Rating Agencies that (i) prior to giving effect to the issuance of the Insurance Policy, the transactions contemplated by
this Agreement have been rated to a level satisfactory to each of the Administrative Agent and the Insurer, and (ii) after giving effect to the issuance of the Insurance Policy, the transactions contemplated by this Agreement, have been rated
“AAA” (or its equivalent) by such Rating Agency. 
  
 (v)
A schedule (i) specifying the days on which Fiscal Months for the period from the Closing Date through December 31, 2003 will begin and end, and (ii) listing all days that are not Business Days during such period. 
  
 (w) Evidence that each of the parties to the Prior Purchase and Sale
Agreement shall have received all amounts owing to such Person immediately prior to giving effect to this Agreement. 
  
 (x) Such other approvals, documents, instruments, certificates and opinions as the Administrative Agent, the Administrator, any Purchaser or the Insurer
may reasonably request. 
  
 SECTION 5.2 Additional Conditions
Precedent to Investment. The Investment shall be subject to the additional conditions precedent that on the Closing Date the following statements shall be true, complete and correct (and the Seller by accepting any amount of the Investment shall
be deemed to have certified that): 
  
 (a) The representations
and warranties contained in Sections 4.1 and 4.2 are true, complete and correct on and as of such date. 
  
 (b) Each of (I) the Administrative Agent shall have received, for itself and each of the Purchasers and the Administrative Agent’s counsel, and (II)
the Insurer shall have received for itself and its counsel, each of the following documents or such other evidence thereof, as applicable, each in form and substance satisfactory to the Administrative Agent and the Insurer: 
  
 (i) evidence, in the form of a certificate from an
authorized officer of the Servicer, that (A) in the case of Receivables, the related Contract with respect to which is not a lease, an executed copy of such Contract and each related Security Agreement with respect thereto is in the possession of
the Servicer, (B) the Servicer is in possession of every other Security Agreement subject to clause (C) of this clause (i), and (C) notwithstanding clauses (B) and (C) of this clause (i), in the case of leases,
each Assignment of Rents in favor of the Administrative Agent is in possession of the Administrative Agent; 
  

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 (ii) evidence, in the form of a certificate from an authorized officer of the Servicer,
that, in the case of each Receivable related to a lease, an executed copy of an Assignment of Rents, covering any proceeds of any residual interest in such Aircraft, is in the possession of the Administrative Agent, and, if applicable, has been
filed with the FAA, or in the case of Aircraft registered under the laws of a jurisdiction other than the United States, the appropriate Aviation Authority or Official Body, subject to the satisfaction of the Investment Condition; 
  
 (iii) evidence, in the form of a certificate from an
authorized officer of the Servicer, that, in the case of each Receivable related to a loan, an executed original security agreement, made by the Obligor and assigned in favor of the Seller and the Administrative Agent, has been filed with the FAA,
or in the case of Aircraft registered under the laws of a jurisdiction other than the United States, the appropriate Aviation Authority or Official Body, subject to the satisfaction of the Investment Condition; 
  
 (iv) evidence in the form of a certificate from an
authorized officer of the Servicer that, with respect to each Receivable related to an Aircraft Fractional Share, (A) the Originator has assigned to the Transferor all of the Originator’s rights to require Flight Options to repurchase such
Aircraft Fractional Share upon the occurrence of a default under the related Contract by the related Obligor, (B) the Transferor has assigned such rights to the Seller and (C) the Seller has assigned such rights to the Administrative Agent; and

  
 (v) in the case of: 
  
 (A) each Aircraft with respect to which the related
Receivable arises under a loan, evidence of lien search results and a favorable opinion from Local Aviation Counsel, as special counsel to the Transferor and the Seller, dated on or prior to the Closing Date, addressed to the Administrative Agent,
each Purchaser and the Insurer, covering (i) certain perfection and priority matters under local law with respect to each Aircraft and (ii) such other matters as the Administrative Agent or the Insurer may reasonably request, in each case in form
and substance satisfactory to each of the Administrative Agent and the Control Party; 
  
 (B) (i) each Aircraft Fractional Share, evidence, in the form of an opinion from in-house counsel to the Transferor and the Seller, dated
the Closing Date, addressed to the Administrative Agent, each Purchaser and the Insurer, that the FAA bill of sale and the Transferor’s form documents which are required to properly evidence title in the Obligor’s name and reflect the
security interest therein, are in the related Contract File and contain accurate conveyance numbers, (ii) one Aircraft Fractional Share designated by the in-house counsel referred to in clause (i) above as having related documentation filed
with the FAA that is representative of those for other Aircraft Fractional Shares, evidence, in the form of an opinion from Local Aviation Counsel, as special counsel to the Transferor and the Seller, dated the Closing Date, addressed to the
Administrative Agent, each Purchaser and the Insurer that such representative documentation is in proper form for filing and recording with the FAA, and that no renewal or other filing 
  

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 will be required in order to maintain the perfection of such security interest (or if any such renewal or
filing is required, such opinion shall so specify), (iii) each Aircraft Fractional Share, searches from a third-party search company listing the liens of record, including the related security agreement, with respect to such Aircraft Fractional
Share, and (iv) one Aircraft Fractional share per Aircraft, evidence in the form of an opinion from in-house counsel to the Transferor and the Seller, dated the Closing Date, addressed to the Administrative Agent, each Purchaser and the Insurer
that, based on the results in clause (iii) of this Section 5.2(b)(v)(B), no liens on the related Aircraft Fractional Share are prior to the lien in favor of the Administrative Agent (on behalf of the Secured Parties), in each case, in
form and substance satisfactory to the Administrative Agent and the Control Party; and 
  
 (C) each Aircraft with respect to which the related Receivable arises under a lease, subject to the Investment Condition, evidence, in the
form of an opinion from Local Aviation Counsel, as special counsel to the Transferor and the Seller, dated the Closing Date, addressed to the Administrative Agent, each Purchaser and the Insurer, that (i) title to each related Aircraft as reflected
in the records of the FAA is vested in the Transferor and (ii) the related Assignment of Rents is in proper form for filing and recording with the FAA or applicable Aviation Authority or Official Body, and covering such other matters as the
Administrative Agent or the Control Party may reasonably request in each case, in form and substance satisfactory to the Administrative Agent and the Control Party. 
  
 (c) The Termination Date has not occurred. 
  
 ARTICLE VI 
  
 COVENANTS 
  
 SECTION 6.1 Affirmative Covenants of the Originator, the Transferor, the Seller and the Servicer. At all times from the date hereof to the Final
Payout Date, unless the Administrative Agent and the Control Party shall otherwise consent in writing: 
  
 (a) Reporting Requirements. Each of the Originator, the Transferor, the Seller and the Servicer shall maintain, for itself and each of its
Subsidiaries, a system of accounting established and administered in accordance with GAAP, and each of the Seller and the Servicer shall furnish (or cause to be furnished) to the Administrative Agent and the Insurer: 
  
 (i) Annual Reporting. As soon as available and in any
event within ninety (90) days after the end of each fiscal year of the Seller, an unaudited balance sheet of the Seller as of the end of such fiscal year and the related unaudited consolidated statements of income and retained earnings for such
fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on and certified by an authorized officer of the Seller. 
  

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 (ii) Notice of an Event of Default or an Unmatured Event of Default or a Servicer
Default; Etc. (A) As soon as possible and in any event within two (2) Business Days after the Servicer knows or should have known of the occurrence of an Event of Default or an Unmatured Event of Default or a Servicer Default, a statement of the
chief financial officer or chief accounting officer of the Servicer setting forth details of such Event of Default, Unmatured Event of Default or Servicer Default and the action which the Servicer proposes to take (or cause to be taken) with respect
thereto, which information shall be updated promptly from time to time; (B) promptly after the Servicer obtains knowledge thereof, notice of any litigation, investigation or proceeding that may exist at any time that could reasonably be expected to
result in a Material Adverse Effect or any litigation or proceeding relating to any Transaction Document; and (C) promptly after the occurrence thereof, notice of a Material Adverse Effect. 
  
 (iii) Change in Credit and Collection Policy and Debt
Ratings. Within ten (10) Business Days after the date any material change in or amendment to the Credit and Collection Policy is made, a copy of the Credit and Collection Policy then in effect indicating such change or amendment. Within five (5)
Business Days after the date of any change in the Performance Guarantor’s public or private debt ratings, if any, a written certification of such public or private debt ratings after giving effect to any such change. 
  
 (iv) Credit and Collection Policy. Within ninety (90)
days after the close of each of the Servicer’s fiscal years, a complete copy of the Credit and Collection Policy then in effect, if requested by the Administrative Agent or the Insurer. 
  
 (v) ERISA. Promptly upon the occurrence thereof,
written notice of any contribution failure with respect to any Pension Plan sufficient to give rise to a lien under Section 302(f) of ERISA. 
  
 (vi) Change in Accountants or Accounting Policy. Promptly, notice of any change in the accountants or accounting policy of the
Originator, the Transferor, the Seller or the Servicer. 
  
 (vii) Documents Provided to the Insurer. Any document, notice, certificate, report or information (including non-financial information) provided from time to time by any Raytheon Entity to the Insurer, at the
same time that the same is being provided to the Insurer. 
  
 (viii) Other Information. Such other information (including non-financial information) as the Administrative Agent, the Administrator or the Insurer may from time to time reasonably request with respect to any
Raytheon Entity or any of their respective Subsidiaries or Affiliates. 
  
 (ix) Annual UCC Opinions of Counsel. Within ninety (90) days after the beginning of each calendar year, beginning with the calendar year 2004, the Servicer on behalf of the Seller shall furnish to the
Administrative Agent (for the benefit of the Secured Parties) an opinion of counsel (which counsel shall not be in-house counsel to 
  

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 the Seller or any of its Affiliates) addressed to the Administrative Agent, each Purchaser and the
Insurer, either stating that, in the opinion of such counsel, such action has been taken with respect to the recording, filing, re-recording or re-filing of any financing statements and continuation statements under Article 9 of the UCC as are
necessary to maintain the security interests created by the First Tier Agreement, the Sale and Conveyance Agreement and this Agreement and reciting the details of such action or stating that, in the opinion of such counsel, no such action is
necessary to maintain such security interest, in all cases in form and substance satisfactory to each of the Administrative Agent and the Control Party. Such opinion of counsel shall also describe the recording, filing, re-recording and re-filing of
any financing statements and continuation statements that, in the opinion of such counsel, are required under Article 9 of the UCC to maintain such security interests. 
  
 (b) Conduct of Business; Ownership. Each of the Originator, the Transferor, the Seller and the Servicer shall, and
the Servicer shall cause each of its Subsidiaries to, carry on and conduct its business in substantially the same manner and in substantially the same fields of enterprise as it is presently conducted and do all things necessary to remain duly
organized, validly existing and in good standing as a domestic corporation in its jurisdiction of incorporation and maintain all requisite authority to conduct its business in each jurisdiction in which its business is conducted. Each of the
Transferor and the Seller shall at all times be (either directly or indirectly) a wholly-owned Subsidiary of RACC, and the Seller shall at all times be (either directly or indirectly) a wholly-owned Subsidiary of the Transferor. 
  
 (c) Compliance with Laws, Etc. Each of the Originator, the Transferor,
the Seller and the Servicer shall, and the Servicer shall cause each of its Subsidiaries to, comply with all Laws to which it or its respective properties may be subject and preserve and maintain its corporate existence, rights, franchises,
qualifications and privileges, except where any such noncompliance could not reasonably be expected to have a Material Adverse Effect. 
  
 (d) Furnishing of Information and Inspection of Records. Each of the Originator, the Transferor, the Seller and the Servicer (including each
Sub-Servicer) shall furnish to the Administrative Agent and the Insurer from time to time such information with respect to the Affected Assets as the Administrative Agent or the Insurer may reasonably request. Each of the Transferor, the Seller and
the Servicer shall, at any time and from time to time (and, if no Event of Default or Servicer Default has occurred, upon reasonable prior written notice from the Administrative Agent, the Administrator or the Insurer to the Servicer), permit each
of the Administrative Agent, the Administrator and the Insurer (or any of their respective agents), during regular business hours (i) to examine and make copies of and take abstracts from all books, records and documents (including computer tapes
and disks) relating to the Receivables or other Affected Assets, including the related Contracts and (ii) to visit the offices and properties of the Originator, the Transferor, the Seller or the Servicer, as applicable, for the purpose of examining
such materials described in clause (i), and to discuss matters relating to the Affected Assets or the Originator’s, the Transferor’s, the Seller’s, or the Servicer’s performance hereunder or under the Contracts and under
the other Transaction Documents to which such Person is a party with any of the officers, directors, employees or independent public accountants of the Originator, the Transferor, the Seller, or the Servicer, as applicable, having knowledge of such
matters. The costs and expenses of the first such audit in any calendar year incurred by the 
  

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 Control Party or, if an Insurer Default shall have occurred and be continuing, each of the Insurer and the Administrative
Agent, and all such audits after the occurrence of an Event of Default or a Servicer Default shall be paid by the Servicer. Notwithstanding anything to the contrary in this Agreement or any other Transaction Document, prior to the occurrence of a
Servicer Default the Servicer shall provide “read only” access to the data in the Servicer’s management information systems; provided that the Servicer shall not be required to provide access to such data to any of the
Administrative Agent’s and the Insurer’s employees who are not U.S. citizens. 
  
 (e) Keeping of Records and Books of Account. Each of the Originator, the Transferor, the Seller and the Servicer shall maintain and implement administrative and operating procedures (including an ability to
recreate records evidencing Receivables and related Contracts in the event of the destruction of the originals thereof), and keep and maintain, all documents, books, computer tapes, disks, records and other information reasonably necessary or
advisable for the collection of all Receivables (including records adequate to permit the daily identification of each new Receivable and all Collections of and adjustments to each existing Receivable). Each of the Originator, the Transferor, the
Seller and the Servicer shall give the Administrative Agent and the Insurer prompt notice of any material change in its administrative and operating procedures referred to in the previous sentence. All such records will be maintained at the offices
set forth in Schedule 4.1(i). 
  
 (f) Performance and
Compliance with Receivables and Contracts and Credit and Collection Policy. (i) The Originator shall, at its own expense, timely and fully perform and comply with all material provisions, covenants and other promises required to be observed by
it, if any, under the Contracts related to the Receivables; and (ii) each of the Transferor, the Seller and the Servicer shall timely and fully comply in all material respects with the Credit and Collection Policy in regard to each Receivable and
the related Contract. 
  
 (g) Notice of the Administrative
Agent’s Interest. In the event that the Originator, the Transferor or the Seller shall sell or otherwise transfer any interest in accounts receivable or any other financial assets (other than as contemplated by any of the Transaction
Documents), any computer tapes or files or other documents or instruments provided by the Servicer in connection with any such sale or transfer shall disclose the Transferor’s ownership interest in the Leased Aircraft, the Seller’s
ownership of the Receivables and the other Affected Assets (other than with respect to title to any Aircraft or Aircraft Fractional Shares) and the Administrative Agent’s security interest in the Affected Assets. 
  
 (h) Collections. The Servicer shall, within five (5) Business Days
after the Closing Date, instruct all Obligors to make payments with respect to Receivables directly to a Blocked Account or the Collection Account or to post office boxes or lock-boxes to which only Blocked Account Banks have access, and shall cause
all items and amounts relating to such Collections received in such post office boxes or lock-boxes to be removed and deposited into a Blocked Account on a daily basis. 
  
 (i) Collections Received. Each of the Originator, the Transferor, the Seller and the Servicer shall hold in trust for
the benefit of the Administrative Agent on behalf of the Secured Parties, and the Servicer shall remit (or cause to be remitted) daily to the Collection Account, all Collections within five (5) Business Days (i) after deposit thereof into either of
the Raytheon 
  

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 Aircraft and Affiliated Companies Account or the RACC Intrust Bank Account and (ii) in the case of Collections otherwise
received by any Raytheon Entity or any Affiliate of a Raytheon Entity, after identification by the Servicer of such funds as Collections. Notwithstanding anything to the contrary in this Agreement or in any other Transaction Document, the Servicer
shall, as soon as practicable following the Servicer’s receipt and identification of any cash collections or other cash proceeds deposited in the Collection Account not constituting Collections, and in any event within two (2) Business Days
after its identification thereof, notify the Administrative Agent and the Control Party in writing, and the Administrative Agent shall, within two (2) Business Days after its receipt of such notice, instruct the Blocked Account Bank maintaining the
Collection Account, to turn over to the Servicer such cash collections or other cash proceeds on deposit in the Collection Account not constituting Collections. Within five (5) Business Days after the Closing Date, the Servicer will instruct all
Obligors to make payments with respect to Receivables directly to a Blocked Account or to the Collection Account or to post office boxes or lock-boxes to which only Blocked Account Banks have access. With respect to the Receivables, all amounts
received by the Originator, the Transferor, the Seller and the Servicer representing interest accrued thereon from the period on and after the Cut-off Date shall be deposited into the Collection Account within five (5) Business Days after the later
of (i) the Closing Date and (ii) receipt thereof. 
  
 (j)
Blocked Accounts. Each Blocked Account shall at all times be subject to a Blocked Account Agreement. 
  
 (k) Sale Treatment. None of the Originator, the Transferor nor the Seller shall (i) account for (including for accounting and tax purposes), or
otherwise treat, the transactions contemplated by the First Tier Agreement or the Sale and Conveyance Agreement, as applicable, in any manner other than as a sale by the Originator of its right, title and interest in, to and under the Affected
Assets to the Transferor, or as a sale by the Transferor of its right, title and interest in, to and under the Receivables and its right, title and interest in, to and under the Affected Assets (other than the related Leased Aircraft) to the Seller,
as the case may be, or (ii) account for (other than for tax purposes) or otherwise treat the transactions contemplated hereby in any manner other than as a sale of the Asset Interest by the Seller to the Administrative Agent on behalf of the Secured
Parties. In addition, each of the Originator, the Transferor and the Seller shall disclose (in a footnote or otherwise) in all of its financial statements (including any such financial statements consolidated with any other Person’s financial
statements) the existence and nature of the transactions contemplated by the First Tier Agreement, the Sale and Conveyance Agreement and this Agreement and the ownership interest of the Seller and the security interest of the Administrative Agent,
on behalf of the Secured Parties, in the Affected Assets (it being understood that such financial statements shall not show the Seller as owner of any Aircraft or Aircraft Fractional Shares unless the Seller properly obtains title to such
Aircraft or Aircraft Fractional Shares). 
  
 (l) Separate
Business; Nonconsolidation. Neither the Transferor nor the Seller shall (i) engage in any business not permitted by its articles of incorporation or by-laws as in effect on the Closing Date or (ii) conduct its business or act in any other manner
which is inconsistent with Section 4.1(v). The officers and directors of the Transferor and the Seller (as appropriate) shall make decisions with respect to the business and daily operations of the Transferor and the Seller independent of and
not dictated by any other controlling Person. Each of the Originator, the 
  

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 Transferor, the Seller and the Servicer shall comply with the factual statements and assumptions applicable to it set
forth in each of the “true sale” and “non-consolidation” opinions of Bingham McCutchen LLP delivered pursuant to Section 5.1. 
  
 (m) Corporate Documents. Neither the Originator, the Transferor nor the Seller shall amend, alter, change or repeal its respective articles of
incorporation except with the prior written consent of each of the Administrative Agent and the Control Party. 
  
 (n) Ownership Interest, Etc. Each of the Transferor, the Seller and the Servicer shall, at its own expense, take all action necessary or desirable
to establish and maintain a valid and enforceable ownership interest in or, to the extent that the First-Tier Agreement, the Sale and Conveyance Agreement or this Agreement, as applicable, does not effect a true sale of the Affected Assets by such
Person, as the case may be, a valid and enforceable security interest in, the Receivables, the Related Security (other than the related Aircraft) and proceeds with respect thereto, and a first priority perfected security interest in the Affected
Assets to the extent a valid and enforceable ownership interest was not established in favor of the Transferor, the Seller and the Administrative Agent (on behalf of the Secured Parties), as applicable, in each case free and clear of any Adverse
Claim (other than any Permitted Lien), in favor of the Administrative Agent for the benefit of the Secured Parties, including taking such action to perfect, protect or more fully evidence the interest of the Administrative Agent, for the benefit of
the Secured Parties, as the Administrative Agent or the Insurer may reasonably request. If the Transferor or the Servicer fails to take any action required to establish, protect, or maintain the rights of the Administrative Agent in any Affected
Asset, subject to the Investment Condition, the Administrative Agent may (with the prior written consent of the Control Party) and at the written direction of the Control Party, shall, perform the same and all of the expenses of the Administrative
Agent shall be payable in accordance with Section 9.4(ii)(B). In addition, each of the Originator, the Transferor and the Seller hereby irrevocably authorizes the Administrative Agent at any time and from time to time to file in any filing
office in any Uniform Commercial Code jurisdiction any initial financing statements and amendments thereto covering the applicable Affected Assets. 
  
 (o) Enforcement of First Tier Agreement and Sale and Conveyance Agreement. The Transferor, on its own behalf and on behalf of the Administrative
Agent, each Purchaser and the Insurer, shall promptly enforce all covenants and obligations of the Originator contained in the First Tier Agreement, as may be directed from time to time by the Administrative Agent (with the prior written consent of
the Control Party) or by the Control Party (with prior written notice to the Administrative Agent). The Seller, on its own behalf and on behalf of the Administrative Agent, each Purchaser and the Insurer, shall promptly enforce all covenants and
obligations of the Transferor contained in the Sale and Conveyance Agreement as may be directed from time to time by the Administrative Agent (with the prior written consent of the Control Party) or by the Control Party (with prior written notice to
the Administrative Agent). The Transferor shall deliver to the Administrative Agent and the Insurer all consents, approvals, directions, notices, waivers and take other actions under the First Tier Agreement, as may be directed from time to time by
the Administrative Agent (with the prior written consent of the Control Party) or by the Control Party (with simultaneous written notice to the Administrative Agent). The Servicer (on behalf of the Seller but, for the avoidance of doubt, not RACC in
its individual capacity) shall deliver to the Administrative Agent and the Insurer all consents, approvals, directions, notices, waivers and take other actions under the First Tier Agreement and the Sale and Conveyance 
  

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 Agreement, as may be directed from time to time by the Administrative Agent (with the prior written consent of the
Control Party) or by the Control Party (with simultaneous written notice to the Administrative Agent). 
  
 (p) Insurance Requirements. The Originator, the Transferor, the Seller and the Servicer shall maintain or cause to be maintained (i) contingent
hull and liability and contingent war and liability gap insurance coverage, to include terrorism coverage so long as it is commercially available, for Aircraft in the possession of the related Obligors and Aircraft Fractional Shares and (ii) hull
and liability insurance coverage, to include terrorism coverage so long as it is commercially available, for Aircraft in the possession of the Servicer or its Affiliates, and, shall, on or prior to the first renewal of each such type of insurance
after the Closing Date, cause all such insurance coverage (and the insurance coverage required to be maintained by each Obligor) to provide that each of the Administrative Agent and the Insurer are named as an additional insured under all such
insurance coverage and the Administrative Agent is the loss payee (on behalf of the Secured Parties) under all such insurance coverage; provided, that upon the occurrence of an Event of Default, the Servicer shall cause (including by causing
Obligors to cause) the Administrative Agent and the Insurer to be named as an additional insured and the Administrative Agent to be named as loss payee (on behalf of the Secured Parties) under all such insurance coverage as soon as commercially
possible after the request of either the Administrative Agent or the Insurer. Without limiting the foregoing, the Servicer shall provide all notices and obtain all consents necessary to cause the insurance contemplated by clauses (i) and
(ii) of this paragraph to remain in full force and effect. 
  
 (q) Certain Post-Closing Agreements. The Originator, the Transferor, the Seller and the Servicer shall use commercially reasonable efforts for a period of six (6) months after the date of the Investment (or, in the case of an
Eligible Substitute Receivable, the date of substitution) to deliver evidence satisfactory to the Administrative Agent and the Control Party that all items related to Receivables (other than those exempt Receivables set forth in the “Exempt
Receivables” section in Schedule II), which as of the date of the Investment or, the date of substitution, as applicable, did not satisfy the requirements of perfection referred to in the definition of “Investment Condition”,
have been executed, recorded and delivered so that, with respect to such items all documents required to be recorded or filed in order to perfect and protect the interest of (i) the Seller against all creditors of and purchasers from the Originator
and the Transferor and (ii) the Administrative Agent of behalf of the Secured Parties against all creditors of and purchasers from the Originator, the Transferor and the Seller, will have been duly filed in each filing office necessary for such
purpose and all filing fees and taxes, if any, payable in connection with such filings shall have been paid in full; provided, that none of the Originator, the Transferor, the Seller or the Servicer shall be required to incur related costs in
respect of any such remaining items in an amount materially greater than the average cost per Aircraft incurred by any of the Originator, the Transferor, the Seller or the Servicer with respect to the items satisfying the Investment Condition as of
the date of the Investment. Notwithstanding the foregoing, if the long-term senior unsecured debt of the Performance Guarantor fails to be rated at least “BB+” by S&P, “Ba1” by Moody’s or “BB+” by Fitch, the
Originator, the Transferor, the Seller and the Servicer shall promptly cause Security Agreements in favor of the Seller and the Administrative Agent to have been fully signed and properly filed with the FAA and other applicable Aviation Authorities
with respect to all Aircraft and Aircraft Fractional Shares except for those Aircraft that are registered in a jurisdiction which does not 
  

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 provide for the filing of liens on aircraft similar to the lien to be created pursuant to the related Assignment of
Rents. Notwithstanding anything to the contrary contained in this Agreement or in any other Transaction Document, any term, provision or condition with respect to any requirement for a security interest or the perfection thereof with respect to any
Affected Asset, shall be deemed to be satisfied in all respects if the Investment Condition with respect thereto is satisfied as of the Closing Date, or the date of substitution, as applicable, and thereafter, the Originator, the Transferor, the
Seller and the Servicer are in compliance with their obligations pursuant to this Section 6.1(q) and Section 2.17(a)(ii)(D). 
  
 (r) FAA Requirements. The Transferor shall, so long as any Leased Aircraft is registered with the FAA, remain a “Citizen of the United
States” (as such term is defined in the Federal Aviation Act). 
  
 (s) Taxes. The Originator, the Transferor, the Seller and the Servicer, shall file all tax returns and permitted extensions thereof and reports required by Law to be filed by such Person and will promptly pay all taxes and
governmental charges at any time owing, except such as are being contested by it in good faith by appropriate proceedings and for which appropriate reserves have been established in accordance with GAAP. Each of the Originator, the Transferor, the
Seller and the Servicer, shall pay when due any taxes payable by it in connection with the Receivables and the other Affected Assets (other than any tax with respect to any Aircraft for which the related Obligor is responsible under the related
Contract). 
  
 (t) ERISA Matters. (a) Each of the
Originator, the Transferor, the Seller and the Servicer shall comply in all material respects with the applicable provisions of ERISA and the Code and (b) furnish to the Administrative Agent and Insurer as soon as possible after, and in any event
within thirty (30) days after any responsible officer of such Person or any ERISA Affiliate knows that, any ERISA Event has occurred that, alone or together with any other ERISA Event known to have occurred, could reasonably be expected to result in
liability of such Person in an aggregate amount exceeding seventy-five million dollars ($75,000,000) in any year, a statement of a financial officer of such Person setting forth details as to such ERISA Event and the action, if any, that such Person
proposes to take with respect thereto. 
  
 (u) List of Business
Days. The Servicer shall provide to the Administrator, the Administrative Agent and the Insurer, not later than December 1 of each calendar year beginning in 2003, a schedule specifying the days on which Fiscal Months during the next calendar
year will begin and end, and listing all days that are not Business Days during the next calendar year. 
  
 (v) Evidence of UCC Filings. Not later than sixty (60) days after the Closing Date, the Servicer shall provide to the Administrative Agent and the
Insurer search reports from a third-party search company (A) which reflect the filing in the applicable filing offices of the UCC financing statements filed pursuant to Article V and (B) attached to which are copies of such UCC financing
statements bearing the file-stamps of such filing offices. 
  

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 SECTION 6.2 Negative Covenants of the Originator, the Transferor, the Seller and the Servicer. At
all times from the date hereof to the Final Payout Date, unless each of the Administrative Agent and the Control Party shall otherwise consent in writing: 
  
 (a) No Sales, Liens, Etc. Except as expressly provided in the First Tier Agreement, the Sale and Conveyance Agreement and in this Agreement, (i)
none of the Originator, the Transferor, the Seller nor the Servicer shall, nor shall it permit any of its respective Subsidiaries to, sell, assign (by operation of law or otherwise) or otherwise dispose of, or create or suffer to exist any Adverse
Claim (other than any Permitted Lien) upon (or the filing of any financing statement) or with respect to any of the Affected Assets, or assign any right to receive income in respect thereof (other than in the case of the Transferor, the sales and
assignments expressly permitted pursuant to the Sale and Conveyance Agreement), and (ii) neither the Transferor nor the Seller shall issue any note, bond or similar security to, or sell, transfer or otherwise dispose of any of its property or other
assets to any other Person. 
  
 (b) No Extension or Amendment
of Receivables. Except as otherwise permitted in Section 7.2 and Annex B, none of the Originator, the Transferor, the Seller nor the Servicer shall extend, amend or otherwise modify the terms of any Receivable, or amend, modify or waive any term
or condition of any Contract related thereto. 
  
 (c) No Change
in Business or Credit and Collection Policy. Unless otherwise approved in accordance with Section 11.2, none of the Originator, the Transferor, the Seller nor the Servicer shall make any change in the character of its business or in the
Credit and Collection Policy, which change would, in either case, impair the collectibility of any Receivable or otherwise have a Material Adverse Effect. 
  
 (d) No Mergers; Subsidiaries, Etc. None of the Originator, the Transferor, the Seller or the Servicer shall consolidate or merge with or into, or
sell, lease or transfer all or substantially all of its assets to, any other Person, except as expressly provided or permitted by the terms of this Agreement, and in the case of any such action by the Servicer, prior to any such consolidation or
merger, the Servicer shall deliver to the Administrative Agent, each Purchaser, the Insurer and each of the Rating Agencies, (i) a certificate from its President and an opinion of counsel (who shall be reasonably acceptable to each of the
Administrative Agent and the Insurer) stating, inter alia, that all conditions and requirements under this Agreement and each other Transaction Document have been complied with and the agreement pursuant to which such new entity expressly
assumes the duties and obligations as Servicer hereunder is legal, binding and enforceable against such Person and all actions in respect of perfection and priority under the applicable UCC (including authorizing the filing of UCC-3 financing
statements) have been taken or will be taken prior to such consolidation or merger or that no such actions are required and (ii) other agreements, certificates and/or opinions of counsel as the Administrative Agent or the Control Party may
reasonably request. The Transferor shall not form or create any Subsidiary other than the Seller. The Seller shall not form or create any Subsidiary. 
  
 (e) Change in Payment Instructions to Obligors. None of the Originator, the Transferor, the Seller nor the Servicer shall add or terminate any bank
as a Blocked Account Bank or any account as a Blocked Account to or from those listed in Schedule 4.1(r) or make any change in its instructions to Obligors regarding payments to be made in respect of the Receivables, unless (i) such instructions are
to deposit such payments to an existing Blocked Account or to the Collection Account (or to a post office box or a lock-box covered by a Blocked Account Agreement) or (ii) each of the Administrative Agent and the Control Party shall have provided
their prior written consent to such addition, termination or change at least fifteen (15) 
  

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 days prior thereto and each of the Administrative Agent and the Control Party shall have received a Blocked Account
Agreement in form and substance reasonably satisfactory to each of the Administrative Agent and the Control Party executed by each new Blocked Account Bank or an existing Blocked Account Bank with respect to each new Blocked Account, post office box
or lock-box, as applicable. 
  
 (f) Deposits to Blocked
Accounts. None of the Originator, the Transferor, the Seller nor the Servicer shall deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Blocked Account or the Collection Account or to post office boxes or
lock-boxes to which only Blocked Account Banks have access, cash or cash proceeds other than Collections. 
  
 (g) Change of Name, Etc. None of the Originator, the Transferor nor the Seller shall change its name, identity or structure (including a merger),
its form of organization or its jurisdiction of incorporation, unless at least thirty (30) days prior to the effective date of any such change such Person delivers to the Administrative Agent and the Insurer (i) such documents, instruments or
agreements, executed by such Person as are necessary to reflect such change and to continue the perfection and priority of the Administrative Agent’s ownership interests or security interests in the Affected Assets and (ii) new or revised
Blocked Account Agreements executed by the Blocked Account Banks which reflect such change and enable the Administrative Agent to continue to exercise its rights contained in Section 7.3. 
  
 (h) Amendment to Transaction Documents. None of the Originator, the
Transferor, the Seller nor the Servicer shall amend, modify, or supplement any Transaction Document or waive any provision thereof, except in any case with the prior written consent of each of the Administrative Agent and the Control Party; nor
shall the Originator, the Transferor, the Seller or the Servicer take, or permit the Transferor or the Seller to take, any other action under any Transaction Document that could have a Material Adverse Effect or which is inconsistent with the terms
of this Agreement or any other Transaction Document. 
  
 (i)
Other Debt. Except as provided herein, neither the Transferor nor the Seller shall create, incur, assume or suffer to exist any indebtedness whether current or funded, or any other liability other than (i) in the case of the Transferor,
indebtedness of the Transferor representing the purchase price under the First Tier Agreement and fees, expenses and indemnities arising under the First Tier Agreement, the Sale and Conveyance Agreement and this Agreement, (ii) in the case of the
Seller, indebtedness of the Seller representing the purchase price under the Sale and Conveyance Agreement and fees, expenses and indemnities arising under the Sale and Conveyance Agreement and this Agreement and (iii) in the case of each of the
Transferor and the Seller, other indebtedness incurred in the ordinary course of its business in an amount not to exceed nine thousand five hundred dollars ($9,500) at any time outstanding. 
  
 (j) Payment to the Transferor. The Seller shall not acquire any
Receivable other than through, under, and pursuant to the terms of, the Sale and Conveyance Agreement, either as a capital contribution from the Transferor or in exchange for the payment by the Seller in cash, or a combination of the two of an
amount equal to the purchase price for such Receivable as required by the terms of the Sale and Conveyance Agreement. 
  

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 (k) Restricted Payments. Neither the Transferor nor the Seller shall (A) purchase or redeem any
shares of its capital stock, (B) prepay, purchase or redeem any Indebtedness, (C) lend or advance any funds or (D) repay any loans or advances to, for or from any of its Affiliates (the amounts described in clauses (A) through (D)
being referred to as “Restricted Payments”), except that the Seller may (1) make Restricted Payments out of funds received pursuant to Section 2.2 and Section 2.9(c) and (2) may make other Restricted Payments
(including the payment of Permitted Dividends) if, (i) each of the requirements set forth in Section 2.14 have been satisfied and (ii) after giving effect thereto, no Event of Default shall have occurred and be continuing. 
  
 ARTICLE VII 
  
 ADMINISTRATION AND COLLECTIONS 
  
 SECTION 7.1 Appointment of Servicer. 
  
 (a) The servicing, administering and collection of the Receivables and the
Affected Assets shall be conducted by the Person (the “Servicer”) so designated from time to time as Servicer in accordance with this Section 7.1. Each of the Originator, the Transferor, the Seller, the Administrative Agent,
the Insurer and the Purchasers hereby appoints as its agent the Servicer, from time to time designated pursuant to this Section 7.1, to enforce its respective rights and interests in and under the Affected Assets. To the extent permitted by
applicable law, each of the Originator, the Transferor and the Seller (to the extent such Person is not then acting as Servicer hereunder) hereby grants to any Servicer appointed hereunder an irrevocable power of attorney to take any and all steps
in the Originator’s, the Transferor’s and/or the Seller’s name and on behalf of the Originator, Transferor or the Seller as necessary or desirable, in the reasonable determination of the Servicer, to collect all amounts due under any
and all Receivables and the Affected Assets, including endorsing the Originator’s, the Transferor’s and/or the Seller’s name on checks and other instruments representing Collections and enforcing such Receivables and the related
Contracts and to take all such other actions set forth in this Article VII. Subject to the immediately following sentence, RACC is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer, pursuant to the
terms of this Agreement. RACC shall act as Servicer until the date which is one year and one day after the Final Payout Date, unless the Administrative Agent (with the prior written consent of the Control Party), or the Control Party (with prior
written notice to the Administrative Agent and each of the Rating Agencies), gives notice to RACC and the Transferor (in accordance with this Section 7.1) of the designation of a new Servicer following the occurrence of a Servicer Default.
Upon the occurrence of a Servicer Default, the Administrative Agent (with the prior written consent of the Control Party), or the Control Party (with prior written notice to the Administrative Agent and each of the Rating Agencies), may designate as
Servicer any Person (including itself) to succeed RACC or any successor Servicer, on the condition in each case that any such Person so designated shall agree to perform the duties and obligations of the Servicer pursuant to the terms hereof.

  
 (b) Upon the designation of a successor Servicer following the
occurrence of a Servicer Default as set forth above, the Servicer agrees that it will terminate its activities as Servicer hereunder in a manner which the Administrative Agent (with the prior written consent 
  

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 of the Control Party), or the Control Party (with prior written notice to the Administrative Agent), determines will
facilitate the transition of the performance of such activities to the successor Servicer, and the Servicer shall cooperate with and assist such successor Servicer. Such cooperation shall include providing all computer tapes and disks, documents,
instruments and other records relating to the Receivables and access to information technology personnel and transferring to any successor Servicer all cash amounts and documents or instruments relating to the Receivables held by the Servicer at the
time of the acceptance by such successor Servicer of the obligation to perform the Services and access to and transfer of records and use by the successor Servicer of all records necessary or desirable to collect the Receivables and the Related
Security. The Servicer shall be responsible for all costs incurred in connection with transitioning servicing to a successor Servicer as a result of a Servicer Default. 
  
 (c) The Servicer acknowledges that each of the Transferor, the Seller, the Administrative Agent, the Purchasers and the
Insurer have relied on the Servicer’s agreement to act as Servicer hereunder in making their decision to execute and deliver this Agreement and the other Transaction Documents to which it is a party. Accordingly, the Servicer agrees that it
will not voluntarily resign as Servicer. 
  
 (d) The Servicer may
delegate its duties and obligations hereunder to any Affiliate of RAH or any other third party sub-servicer, including, but not limited to, Flight Options (with respect to Aircraft Fractional Shares) and to each other sub-servicer listed (together
with the general servicing functions performed by such Person) in Schedule V (each, a “Sub-Servicer”), as such schedule shall be amended, amended and restated, supplemented or otherwise modified by the Servicer, and provided
to the Administrative Agent and the Control Party in connection with the addition of any new Sub-Servicer (together with the servicing function to be performed by such Sub-Servicer) or any change to the servicing functions provided by a Sub-Servicer
on such Schedule V, provided that, in each such delegation, (i) the Servicer shall remain primarily liable to the Transferor, the Seller, the Administrative Agent, the Purchasers and the Insurer for the performance of the duties and
obligations so delegated, (ii) the Transferor, the Seller, the Administrative Agent, the Purchasers and the Insurer shall have the right to look solely to the Servicer for such performance and (iii) the terms of any agreement with any Sub-Servicer
shall provide that the Administrative Agent (with the prior written consent of the Control Party) or the Control Party (with prior written notice to the Administrative Agent) may terminate such agreement upon the termination of the Servicer
hereunder by giving notice of its desire to terminate such agreement to the Servicer (and the Servicer shall provide appropriate notice to such Sub-Servicer). The Servicer shall be liable for any and all fees and expenses incurred by or through a
Sub-Servicer (but shall be entitled to reimbursement for any fees and expenses to the extent such fees and expenses constitute Permissible Servicer Expenses from related Recovery Proceeds and in accordance with the priorities for payment set forth
in Section 2.12) and no such Sub-Servicer shall have any rights to the Affected Assets or Collections for payment of any amounts owing to such Sub-Servicer or any other Person. The Servicer may appoint professional advisers, but shall
immediately notify the Administrative Agent and the Insurer of such appointment. 
  
 (e) If (i) a Flight Options Trigger Event has occurred, and (ii) the Insurer is not the Control Party, then notwithstanding any term or provision of any Transaction Document, the Control Party, with respect to the
Flight Options Contracts or with respect to any Receivable 
  

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 related to the Flight Options Contracts, shall have (and at its option may exercise) rights of the type contemplated by
Section 8.2(c), solely with respect to the applicable Flight Options Contracts. 
  
 SECTION 7.2 Duties of Servicer. (a) The Servicer shall take or cause to be taken all such action, including the services more specifically set forth on Annex B (collectively, the
“Services”) as may be necessary or advisable to collect each Receivable and the Affected Assets from time to time and except as otherwise expressly provided in Section 6.1(q), to maintain the perfection of the
Transferor’s, the Seller’s and the Administrative Agent’s respective interests in any Aircraft or Aircraft Fractional Shares, including, without limitation, maintenance of recordation with the FAA or other applicable Aviation
Authority, all in accordance with this Agreement and all applicable Law, and shall use such care and diligence at all times in the performance of the Services consistent with the care and diligence that it uses for servicing receivables for its own
account, and in no event shall use less than such care and diligence as is customary and reasonable in the general aviation finance industry (the “Standard of Care”). Without prejudice to the Standard of Care, the Servicer shall not
(i) be imputed with the knowledge of any Affiliate or any of such Affiliate’s directors, officers or employees or (ii) be obligated to take or refrain from taking any action that will violate applicable Law. The Servicer shall remit (or cause
to be remitted) daily to the Collection Account, all Collections within five (5) Business Days (i) after deposit thereof into either of the Raytheon Aircraft and Affiliated Companies Account or the RACC Intrust Bank Account and (ii) in the case of
Collections otherwise received by any Raytheon Entity or any Affiliate of a Raytheon Entity, after identification by the Servicer of such funds as Collections. The Servicer will not commingle funds collected with respect to the Affected Assets with
its own funds or the funds of any other Person except, prior to the occurrence of a Servicer Default, for security deposits related to Receivables. The Servicer shall hold (as trustee on behalf of the Administrative Agent, for the benefit of the
Secured Parties) all Collections and Advance Payments, prior to the deposit of the same into the Collection Account associated with the Receivables and the Affected Assets; upon the occurrence of a Servicer Default, the Administrative Agent (with
the prior written consent of the Control Party), or the Control Party (with prior written notice to the Administrative Agent), may require that the Servicer transfer all cash collateral related to Receivables to an account controlled by the
Administrative Agent and subject to a blocked account agreement in form and substance satisfactory to each of the Administrative Agent and the Control Party, and the Servicer, at its own expense, hereby agrees to cause the transfer of cash
collateral to be completed within thirty (30) days after such request to do so. In the event the Servicer shall be entitled (pursuant to the terms of the applicable Contract) to apply any portion of such cash collateral to any Receivable, such cash
collateral shall be deposited into the Collection Account for distribution as a “Collection” pursuant to and in accordance with Section 2.12. The Servicer may not extend, amend or otherwise modify the terms of any Contract (other
than as expressly set forth in Annex B) or adjust the Unpaid Balance of any Receivable. The Seller shall deliver to the Servicer and the Servicer shall hold in trust for the Seller and the Administrative Agent, on behalf of the Secured
Parties, in accordance with their respective interests, all Contract Files and all Records which evidence or relate to any Affected Asset, in each case in accordance with the Credit and Collection Policy and customary and reasonable standards in the
commercial aviation finance industry. Each promissory note, security agreement and lease relating to a Receivable will be marked with the following legend: “This document and all related documentation are subject to a Uniform Commercial Code
security agreement among Bank of America, N.A., as 
  
  

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 Administrative Agent (the “Administrative Agent”), Raytheon Aircraft Credit Corporation, Raytheon
Aircraft Receivables Corporation, General Aviation Receivables Corporation and certain of their affiliates, and financing statements evidencing the Administrative Agent’s security interest therein have been filed of record in the manner
provided for by the Uniform Commercial Code and other applicable law. The granting of another security interest in, or the sale of, this document and related documentation would, without consent of the Administrative Agent, violate the
Administrative Agent’s rights under such security agreement” (or such other legend acceptable to each of the Administrative Agent and the Control Party). Upon the occurrence of a Servicer Default, the Administrative Agent (with the prior
written consent of the Control Party), or the Control Party (with prior written notice to the Administrative Agent), may require that the Servicer transfer all Contract Files to a third party custodian acceptable to each of the Administrative Agent
and the Control Party (pursuant to a custodial agreement acceptable to each of the Administrative Agent and the Control Party), and the Servicer, at its own expense, hereby agrees to cause the transfer of the Contract Files to be completed within
thirty (30) days after such request to do so. The Servicer may use any legal action necessary to enforce collection of any Receivable as provided in this Agreement without the consent of the Administrator, the Administrative Agent, any of the
Purchasers or the Insurer; provided, that the Servicer shall not add the Administrator, the Administrative Agent, any of the Purchasers or the Insurer as a party to any litigation without the prior written consent of such Person.
Notwithstanding anything to the contrary contained herein, the Control Party (with prior written notice to the Administrative Agent), shall have the absolute and unlimited right to direct the Servicer (whether RACC or any other Person is the
Servicer) to commence or settle any legal action to enforce collection of any Receivable or to foreclose upon or repossess any Affected Asset. At any time when an Event of Default or a Servicer Default exists, each of the Administrative Agent and
the Control Party may notify any Obligor of the Administrative Agent’s interest, on behalf of the Secured Parties, in the Receivables and the other Affected Assets. 
  
 (b) Notwithstanding anything to the contrary contained in this Article VII, the Servicer, if not RACC, the Seller or
any Affiliate of RACC or the Seller, shall have no obligation to collect, enforce or take any other action described in this Article VII with respect to any indebtedness that is not included in the Asset Interest other than to remit to the
Collection Account the Collections and to deliver any documents related to any such indebtedness as described in this Agreement. 
  
 (c) (I) Prior to the occurrence of (x) a Servicer Default, or (y) an Unmatured Servicer Default, so long as the Performance Guarantor is rated at least
“BBB-” (or its equivalent) by each of the Rating Agencies, the Servicer shall deliver to the Administrative Agent and the Insurer (A) within 120 days after the last day of each fiscal year, a report of internationally recognized
independent accountants to the effect that the firm has made an examination of management’s assertion that the Servicer has maintained effective internal control over financial reporting and that firm has performed the agreed upon procedures
relating to settlements of receivables to be mutually agreed by the Servicer, the Administrative Agent and the Control Party and (B) within thirty (30) days of the end of each fiscal quarter, a Microsoft Excel download containing an extract from the
Servicer’s management information system substantially in the form of Exhibit E and (II) at all other times, the Servicer shall deliver the items referred to in clause (I)(B) on each Reporting Date. 
  

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 (d) Any payment by an Obligor in respect of any indebtedness owed by it to the Originator, the Transferor
or the Seller shall, except as otherwise specified by such Obligor (including in response to a Servicer query), required by contract or law or clearly indicated by facts or circumstances (including by way of example an equivalence of a payment and
the amount of a particular invoice), and unless otherwise instructed by the Administrative Agent and the Control Party, be applied as a Collection of any Receivable of such Obligor (starting with the oldest such Receivable) to the extent of any
amounts then due and payable thereunder before being applied to any other receivable or other indebtedness of such Obligor. 
  
 SECTION 7.3 Blocked Account Arrangements. Prior to the Closing Date, the Transferor, the Seller, the Servicer and the Administrative Agent shall
enter into a Blocked Account Agreement with each of the Blocked Account Banks, covering each Blocked Account, and the Servicer shall deliver original counterparts thereof to the Administrative Agent and the Insurer. Upon the occurrence of an Event
of Default or a Servicer Default, the Administrative Agent may (or at the written direction of the Control Party, shall) at any time thereafter give notice to any Blocked Account Bank that the Administrative Agent is exercising its rights under the
related Blocked Account Agreement to do any or all of the following: (i) to have the exclusive ownership and control of each related Blocked Account (and any related post office boxes or lock-boxes) transferred to the Administrative Agent and to
exercise exclusive dominion and control over the funds deposited from time to time therein, (ii) to have the proceeds that are sent to such Blocked Account (and any related post office boxes or lock-boxes) be redirected pursuant to its instructions
rather than deposited in the applicable Blocked Account, without the consent of the Transferor, the Seller or the Servicer and (iii) to take any or all other actions permitted under the related Blocked Account Agreement, without the consent of the
Transferor, the Seller or the Servicer. Each of the Transferor, the Seller and the Servicer hereby agrees that if the Administrative Agent, at any time, takes any action set forth in the preceding sentence, the Administrative Agent shall have
exclusive control of the proceeds (including Collections) of all Receivables, and each of the Transferor, the Seller and the Servicer hereby further agrees to take any other action that the Administrative Agent or the Control Party may reasonably
request to transfer such control. Any proceeds of Receivables received by the Transferor, the Seller or RACC, as Servicer or otherwise, thereafter shall be sent immediately to the Administrative Agent (or to such account as the Administrative Agent
may designate in writing from time to time). All such proceeds received by the Administrative Agent shall be distributed pursuant to and in accordance with the priorities for payment set forth in Section 2.12. 
  
 SECTION 7.4 Enforcement Rights After Designation of New Servicer. (a)
At any time following the designation of a Servicer (other than RACC or an Affiliate of RACC) pursuant to Section 7.1(a): 
  
 (i) the Servicer shall, at the Control Party’s request (with prior written notice to the Administrative Agent) and at the
Servicer’s expense, give notice of the Administrative Agent’s (on behalf of the Secured Parties), the Servicer’s, and/or the Purchasers’ ownership of the Receivables and (in the case of the Administrative Agent, the
Administrative Agent’s) interest in the Asset Interest to each Obligor and direct such Obligor to make payments under each Receivable directly to the Collection Account (or to such account as the Control Party (with the prior written consent of
the Administrative Agent, such consent not to be unreasonably withheld) may designate in writing from time 
  

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 to time to the Servicer and the Administrative Agent), except that if the Servicer fails to so notify any
Obligor, the Control Party (with prior written notice to the Administrative Agent) may so notify such Obligor; and 
  
 (ii) the Servicer shall, at the Control Party’s request (with prior written notice to the Administrative Agent) and at the
Servicer’s expense, (A) assemble all of the Records and shall make the same available to each of the Administrative Agent and the Control Party or any of their respective designees at a place selected by the Control Party (with prior written
notice to the Administrative Agent) or its related designee, and (B) segregate all cash, checks and other instruments received by it from time to time constituting Collections of Receivables in a manner acceptable to each of the Administrative Agent
and the Control Party and shall, promptly upon receipt, remit all such cash, checks and other instruments, duly endorsed or with duly executed instruments of transfer, to the Administrative Agent or the Control Party or their respective designees.

  
 (b) Each of the Originator, the Transferor, the Seller and the
Servicer hereby authorizes the Administrative Agent, and irrevocably appoints the Administrative Agent as its attorney-in-fact with full power of substitution and with full authority in the place and stead of the Originator, the Transferor, the
Seller or the Servicer, as applicable, which appointment is coupled with an interest, to take any and all steps in the name of the Originator, the Transferor, the Seller or the Servicer, as applicable, and on behalf of the Originator, the
Transferor, the Seller or the Servicer, as applicable, necessary or desirable, in the determination of the Administrative Agent or the Control Party, to collect any and all amounts or portions thereof due under any and all Receivables, the other
Affected Assets, the Related Security or the related Contracts, including endorsing the name of the Originator, the Transferor, the Seller or the Servicer on checks and other instruments representing Collections and enforcing such Raytheon
Entity’s rights with respect to the Receivables, the other Affected Assets, the Related Security and the related Contracts, subject to the terms and conditions of this Agreement, the other Transaction Documents and the related Contracts.
Notwithstanding anything to the contrary contained in this Section 7.4(b), none of the powers conferred upon such attorney-in-fact pursuant to the immediately preceding sentence shall subject such attorney-in-fact to any liability if any
action taken by it shall prove to be inadequate or invalid, nor shall they confer any obligations upon such attorney-in-fact in any manner whatsoever (it being understood that the Administrative Agent, as attorney-in-fact, shall only take the
actions set forth in this Section 7.4(b) after the occurrence of a Servicer Default). 
  
 SECTION 7.5 Servicer Default. The occurrence of any one or more of the following events shall constitute a “Servicer Default”: 
  
 (a) the Servicer (I) shall fail to remit (or cause to be remitted) to the Collection Account any Collections within five (5)
Business Days (i) after deposit thereof into either of the Raytheon Aircraft and Affiliated Companies Account or the RACC Intrust Bank Account and (ii) in the case of all other Collections otherwise received by any Raytheon Entity or any Affiliate
of a Raytheon Entity, after identification by the Servicer of such funds as Collections; provided that, in the case of any Collections deposited pursuant to clause (i) which the related Obligor failed to provide reasonably adequate
identification of the indebtedness to which the applicable payment relates, the Servicer shall fail to remit (or cause to be remitted) to the 
  

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 Collection Account such Collections within seven (7) Business Days, after such deposit or (II) shall fail to observe or
perform any term, provision, covenant (other than as set forth in clause (a)(I) above) (whether financial or otherwise), agreement, obligation or duty (including the Services) of the Servicer set forth in this Agreement or in any of the other
Transaction Documents to which it is a party, which failure, if capable of cure, shall fail to be cured (i) within the time period so specified for such term, provision, other covenant, agreement, obligation or duty or (ii) if no such time period is
so specified, within thirty (30) days of the earlier of the Servicer’s knowledge or notice of such failure; or 
  
 (b) any representation, warranty, certification or statement made or deemed made by the Servicer in this Agreement, any other Transaction Document to
which it is a party or in any other information, report or document delivered pursuant hereto or thereto shall prove to have been incorrect in any material respect when made or deemed made or delivered, and, if capable of cure, shall fail to be
cured within thirty (30) days of the earlier of the Servicer’s knowledge or notice thereof; or 
  
 (c) any Event of Bankruptcy shall occur (i) with respect to the Servicer or any other Raytheon Entity or any Subsidiary of the Servicer or (ii) with
respect to any Subsidiary of any Raytheon Entity, (solely with respect to this clause (ii)) the effect of which could reasonably be expected to have a Material Adverse Effect; or 
  
 (d) a Change of Control with respect to RACC shall have occurred; or 
  
 (e) an “Event of Default” under the Raytheon Revolver (as such term
is defined therein) shall have occurred that has not been cured within the time period provided for therein, if any, or waived by the required parties thereto; or 
  
 (f) if the Servicer is not RACC (or an Affiliate thereof), the long-term senior unsecured debt of the Servicer fails to be
rated at least “BBB” by S&P, “Baa2” by Moody’s or “BBB” by Fitch; or 
  
 (g) any Event of Default shall occur and be continuing; or 
  
 (h) the Servicer shall fail to submit a Monthly Servicer Report within ten (10) days after the due date therefor; or 
  
 (i) RACC shall resign as the Servicer; or 
  
 (j) Either RACC or RAC shall cease to be (a) directly or indirectly majority
owned by the Performance Guarantor or (b) actively involved in the business of financing and servicing aircraft related receivables, as applicable, in a substantially similar manner as that conducted on the Closing Date; or 
  
 (k) the Servicer shall cease to maintain access to a world-wide dealer
network substantially similar to the one maintained by the Servicer and its Affiliates on the Closing Date; or 
  

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 (l) any Person shall receive any indication or evidence that the Servicer has been involved in any
criminal activity that might result in the forfeiture of any substantial portion of the Servicer’s property to any Official Body; or 
  
 (m) an event set forth in Schedule III with respect to the Performance Guarantor shall have occurred and shall not have been waived in accordance
with the provisions for waiver set forth in Schedule III. 
  
 SECTION 7.6 Servicing Fee. The Servicer shall be paid a Servicing Fee in accordance with and subject to the priorities for payment set forth in Section 2.12. If the Servicer is not RACC or an Affiliate thereof, the
Administrative Agent (with the prior written consent of the Control Party), or the Control Party (with prior written notice to the Administrative Agent), by giving three (3) Business Days’ prior written notice to the Seller, may revise the
percentage used to calculate the Servicing Fee so long as the revised percentage will not result in a Servicing Fee that exceeds one hundred ten percent (110%) of the reasonable and appropriate out-of-pocket costs and expenses of such Servicer
incurred in connection with the performance of its obligations hereunder as documented to the reasonable satisfaction of each of the Administrative Agent and the Control Party. 
  
 SECTION 7.7 Protection of Ownership Interest of the Purchasers. Each of the Originator, the Transferor, the Seller
and the Servicer agrees that it shall, from time to time, at its own expense, promptly execute and deliver all instruments and documents and take all reasonable actions as may be necessary or as the Administrative Agent or the Control Party may
reasonably request in order to perfect or protect the Asset Interest or to enable the Administrative Agent, any of the Purchasers or the Control Party to exercise or enforce any of their respective rights hereunder. Without limiting the foregoing,
each of the Originator, the Transferor, the Seller and the Servicer shall, upon the request of the Administrative Agent or the Control Party, in order to accurately reflect this purchase and sale transaction or any other purchase and sale
transaction contemplated by any of the Transaction Documents, (i) file (and, if necessary, execute and/or authorize) such financing or continuation statements or amendments thereto or assignments thereof (as otherwise permitted to be filed pursuant
hereto) as may be requested by the Administrative Agent or the Control Party or as otherwise may be required under Section 6.2(g) and (ii) mark its respective master data processing records and other documents with a legend describing the
conveyances contemplated by the Transaction Documents. Each of the Originator, the Transferor, the Seller and the Servicer shall, upon request of the Administrative Agent, any of the Purchasers or the Control Party obtain such additional search
reports as the Administrative Agent, any of the Purchasers or the Control Party shall request. To the fullest extent permitted by applicable Law, the Administrative Agent shall be permitted to file (and, if necessary, execute) continuation
statements and amendments thereto and assignments thereof without the Originator’s, the Transferor’s, the Seller’s or the Servicer’s approval. Carbon, photographic or other reproduction of this Agreement or any financing
statement shall be sufficient as a financing statement. 
  
 SECTION 7.8 Servicer Liability. (a) Except as otherwise expressly provided herein (including, without limitation, pursuant to Section 6.1(p)) the Servicer shall not be liable for (i) the failure by any Obligor or guarantor
with respect to the Receivables or any other Person (other than the Servicer or any of its Sub-Servicer or delegates) to perform any of its obligations, (ii) 
  

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 the accuracy or completeness of any notices, reports or other communications (other than those from the Servicer or any
of its Sub-Servicers or delegates) and shall be entitled to rely upon all such notices, reports and communications, except to the extent that the Servicer has actual notice to the contrary or reasonably should have known if the Servicer had acted in
accordance with the Standard of Care and (iii) for any action or inaction taken at the written request or at the written direction of the Administrative Agent or the Control Party. The Servicer shall not be subject to any obligations or liabilities
other than to those set forth in the Transaction Documents. 
  
 (b) The Servicer shall be liable to the Purchasers, the Administrative Agent and Insurer for any and all direct (but not special, exemplary, punitive or consequential) losses arising out of, in connection with or related to, the failure of
the Servicer to perform its duties (including, but not limited to, the Services) and obligations with respect to the Services, but specifically excluding any losses on account of any non-payment by Obligors arising from the financial inability of
such Obligors to make payments or resulting from the gross negligence or willful misconduct of any Person seeking such payment. 
  
 SECTION 7.9 Conflicts of Interest. Each of the Administrative Agent, the Purchasers and the Insurer hereby acknowledges that the Servicer may from
time to time perform services for its own separate assets and businesses and those of the Performance Guarantor and other third parties. In the course of conducting such activities, the Servicer may have conflicts of interest and each of the parties
hereto acknowledges that if such a conflict of interest arises, the Servicer shall perform the Services in accordance with the Standard of Care, and in any event will not perform the Services in a manner that discriminates against any of the
Purchasers, the Administrative Agent or the Insurer. For the avoidance of doubt, notwithstanding the foregoing, the Servicer shall not be required to perform the Services in a manner that prefers any of the Purchasers, the Administrative Agent or
the Insurer. 
  
 SECTION 7.10 Limitation of Servicer
Authority. The Servicer shall have no authority or agency to make any representations or warranties or give any instructions on behalf of any of the Secured Parties. The Servicer shall have no authority or agency to enter into any binding or in
principle obligation on behalf of any of the Secured Parties, except to the extent expressly provided in this Agreement. The Servicer shall comply at all times with instructions of the Administrative Agent (with the prior written consent of the
Control Party, if the Administrative Agent is not the Control Party, and if such Person’s consent is required pursuant to the terms of this Agreement or any of the other Transaction Documents) or the Control Party, if the same are communicated
by a duly authorized person. The Servicer will not propose any transaction relating to or affecting any Receivable or any Contract, which transaction would (i) not be an arm’s-length transaction, (ii) not comply with the Standard of Care and
the Credit and Collection Policy or (iii) impair any of the rights of the Administrative Agent or any of the other Secured Parties under this Agreement or any other Transaction Document. 
  
 SECTION 7.11 Servicer Information. Neither the Administrative Agent nor the Insurer (nor any of their respective
agents) shall have any rights to information which is the property of the Servicer or have any right to amend the information in the Servicer’s management systems, except, in either case, as expressly set forth in this Agreement or any other
Transaction Document. Subject to Section 11.10, if either the Administrative Agent or the Insurer gains access to non-public information related to the Servicer, such Person agrees to keep such information confidential. 
  

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 ARTICLE VIII 
  
 EVENT OF DEFAULTS 
  
 SECTION 8.1 Event of Defaults. The occurrence of any one or more of the following events shall constitute a “Event of Default”:

  
 (a) any Raytheon Entity shall fail to observe or perform any
term, provision, covenant (whether financial or otherwise), agreement or obligation of such Person set forth in any of the Transaction Documents to which it is a party, which failure, if capable of cure, shall fail to be cured within thirty (30)
days of the earlier of such Person’s knowledge or notice thereof; 
  
 (b) any representation, warranty, certification or statement made or deemed made by any Raytheon Entity in this Agreement, any other Transaction Document to which it is a party or in any other information, report or document delivered
pursuant hereto or thereto shall prove to have been incorrect in any material respect when made or deemed made or delivered, and, if capable of cure, shall fail to be cured within thirty (30) days of the earlier of such Person’s knowledge or
notice thereof; or 
  
 (c) any Event of Bankruptcy shall occur (i)
with respect to the Servicer or any other Raytheon Entity or any Subsidiary of the Servicer or (ii) with respect to any Subsidiary of any Raytheon Entity (solely with respect to this clause (ii)), the effect of which could reasonably be
expected to have a Material Adverse Effect; or 
  
 (d) the
Administrative Agent, on behalf of the Secured Parties, shall for any reason fail or cease to have a valid and enforceable perfected first priority ownership or security interest in the Affected Assets, free and clear of any Adverse Claim (other
than any Permitted Lien); or 
  
 (e) a Servicer Default shall have
occurred and, within thirty (30) days after the giving notice by the Administrative Agent or the Control Party to the Servicer that the Servicer shall be replaced as a result of such Servicer Default, no successor Servicer reasonably satisfactory to
each of the Administrative Agent and the Control Party shall have accepted the duties of Servicer; or 
  
 (f) an “Event of Default” under the Raytheon Revolver (as such term is defined therein) shall have occurred that has not been cured within the
time period provided for therein, if any, or waived by the required parties thereto; or 
  
 (g) the failure of any Raytheon Entity (or any Subsidiary of any Raytheon Entity) to pay when due any amounts due under any agreement to which any such Person is a party and under which any Indebtedness greater than
fifty million dollars ($50,000,000) is governed; or the default by any Raytheon Entity (or any Subsidiary of any Raytheon Entity) in the performance of any term, provision or condition contained in any agreement to which any such Person is a party
and under which any Indebtedness owing by any Raytheon Entity (or any Subsidiary of any 
  

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 Raytheon Entity) greater than such amount was created or is governed, regardless of whether such event is an “event
of default” or “default” under any such agreement if the effect of such default is to cause such Indebtedness to become due and payable prior to its stated maturity; or any Indebtedness owing by any Raytheon Entity (or any Subsidiary
of any Raytheon Entity) greater than such amount shall be declared to be due and payable, required to be prepaid or accelerated (other than by a regularly scheduled payment) prior to the date of maturity thereof; or 
  
 (h) the entry of any judgment (a) against the Transferor or the Seller or (b)
for money in excess of fifty million dollars ($50,000,000) against any other Raytheon Entity, which such judgment shall not have been vacated, discharged, satisfied, stayed or bonded pending appeal within thirty (30) days from the date of entry
thereof; or 
  
 (i) a Change of Control with respect to the
Transferor or the Seller shall have occurred or, without the prior written consent of each of the Administrative Agent and the Control Party, a Change of Control with respect to any other Raytheon Entity shall have occurred; or 
  
 (j) this Agreement or any other Transaction Document to which any Raytheon
Entity is a party, or any provision hereunder or thereunder, shall cease to be the legal, valid and binding obligation of any such Person or shall cease to be in full force and effect, enforceable as against such Person, or any Raytheon Entity shall
so state in writing; or 
  
 (k) the long-term, senior unsecured
debt of the Performance Guarantor shall cease to be rated by S&P, Moody’s or Fitch or shall be rated below “BB+” by S&P, below “Bal” by Moody’s or below “BB+” by Fitch; or 
  
 (l) any draw shall occur under the Insurance Policy; or 
  
 (m) either the Transferor or the Seller becomes subject to the Investment
Company Act; or 
  
 (n) any Raytheon Entity shall assign any of
its rights or obligations under any of the Transaction Documents to which it is a party in violation of the terms of this Agreement or thereof; or 
  
 (o) an ERISA Event shall have occurred with respect to any Raytheon Entity that, in the reasonable opinion of the Control Party, when taken together with
all other ERISA Events that have occurred with respect to any Raytheon Entity could reasonably be expected to have a Material Adverse Effect; or 
  
 (p) the Net Investment and Yield, if any, shall not have been paid in full from Collections on or prior to the Settlement Date occurring in October 2014.

  
 SECTION 8.2 Remedies. Upon the occurrence of (a) an
Event of Default in clause (b) or clause (d) of Section 8.1 above, the Administrative Agent may (with the prior written consent of the Control Party) and at the written direction of the Control Party, shall, by notice to the
Seller and the Servicer, require that (i) the Seller repurchase each Receivable in respect of which such Event of Default arises by depositing into the Collection Account an amount equal to the 
  

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 Unpaid Balance of such Receivable and accrued interest thereon or (ii) the Seller substitute an Eligible Substitute
Receivable for such Receivable, in accordance with Section 2.17, (b) an Event of Default in clause (c) of Section 8.1 above with respect to the Transferor or the Seller, the Termination Date shall be deemed to have automatically
occurred and all Aggregate Unpaids shall be deemed to be immediately due and payable without presentment, demand, protest or other notice each of which are hereby expressly waived and (c) an Event of Default in Section 8.1 above (other than
as set forth in clause (a) of this Section 8.2), the Administrative Agent may (with the prior written consent of the Control Party) and at the written direction of the Control Party, shall, exercise all rights under all applicable Laws
in respect of the Receivable and the other Affected Assets related thereto, including declaring the Termination Date to have occurred, and have the right to foreclose on or dispose of the Affected Assets or any portion thereof or interests therein,
at one or more public or private sales called and conducted in any manner permitted by Law and to apply all proceeds of any such foreclosure or disposition as Collections pursuant to and in accordance with Section 2.12 (it being
understood that the Administrative Agent’s right to take any action with respect to any Aircraft shall be subject to the terms of the related Contract); provided, however, that the Administrative Agent shall not conduct (and
the Control Party shall not instruct) any public auction or accept any private sale contract with respect to all or any portion of the Affected Assets unless, not less than two (2) weeks prior thereto, the Administrative Agent (at the written
direction of the Control Party) shall have given the Seller and the Servicer written notice that the Administrative Agent (at the direction of the Control Party) intends to conduct a public auction or solicit or consider a private sale contract of
the Affected Assets or such portion thereof. The proceeds of such sale or liquidation shall be delivered to the Collection Account for distribution in accordance with and subject to the priorities for payment set forth in Section 2.12. For
the avoidance of doubt, except as may otherwise be specifically provided in Section 2.12 or Article IX of this Agreement or as provided in any other Transaction Document there shall be no recourse to any Raytheon Entity or any
Affiliate thereof as a result of the occurrence of any Event of Default. 
  
 SECTION 8.3 Leased Aircraft Collateral. If an Event of Default shall have occurred and be continuing, the Administrative Agent may (with the prior written consent of the Control Party) and at the written
direction of the Control Party, shall, by notice to the Transferor and the Servicer, request that the Transferor transfer any of its right, title or interest in or to the underlying collateral set forth in any Assignment of Rents (the
“Leased Aircraft Collateral”) or take such action as may be reasonably requested to permit the Administrative Agent, the Servicer or their respective designees to exercise any of their rights with respect to the Leased Aircraft
Collateral, all subject to any rights that the related Obligor may have under the lease related to such Aircraft. 
  
 ARTICLE IX 
  
 INDEMNIFICATION; EXPENSES; RELATED MATTERS 
  
 SECTION 9.1 Indemnities by the Seller. Without limiting any other rights which the Administrative Agent, the Administrator, any of the Purchasers, the Insurer, the Program Support Providers and each of their respective officers,
directors, employees, counsel and other agents (collectively, “Indemnified Parties”) may have hereunder or under applicable Law, the Seller hereby agrees to indemnify each Indemnified Party from and against any and all damages,
losses, 
  

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 claims, liabilities, costs and expenses, including reasonable attorneys’ fees (which such attorneys may be an employ
of any Indemnified Party) and disbursements (all of the foregoing being collectively referred to as “Indemnified Amounts”) awarded against or incurred by any of them in any action or proceeding between any Raytheon Entity
(including, in its capacity as the Servicer or any Affiliate of RACC acting as Servicer) and any of the Indemnified Parties or between any of the Indemnified Parties and any third party or otherwise arising out of or as a result of this Agreement,
the other Transaction Documents, the ownership or maintenance, either directly or indirectly, by the Administrative Agent, any Purchaser or the Insurer of the Asset Interest or any of the other transactions contemplated hereby or thereby,
excluding, however, (i) Indemnified Amounts to the extent resulting from gross negligence or willful misconduct on the part of such Indemnified Party (ii) recourse (except as otherwise specifically provided in this Agreement) for
uncollectible Receivables or (iii) any indirect, special, exemplary, punitive or consequential losses or damages. Without limiting the generality of the foregoing, the Seller shall indemnify each Indemnified Party for Indemnified Amounts relating to
or resulting from: 
  
 (a) any representation or warranty made by
any Raytheon Entity or any officers of any Raytheon Entity under or in connection with this Agreement, any of the other Transaction Documents, any Monthly Servicer Report or any other information or report delivered by any Raytheon Entity pursuant
hereto, or pursuant to any of the other Transaction Documents which shall have been incomplete, false, inaccurate, untrue or incorrect in any respect when made or deemed made (without regard to any materiality or knowledge qualification set forth in
any such representation or warranty); 
  
 (b) the failure by the
Seller or the Servicer to comply with any applicable Law with respect to any Receivable or the related Contract or related Aircraft, or the nonconformity of any Receivable or the related Contract or related Aircraft with any such applicable Law
(other than any noncompliance or nonconformity of any Aircraft for which the related Obligor is responsible under the related Contract); 
  
 (c) the failure (i) to vest and maintain vested in the Administrative Agent, on behalf of the Secured Parties, a first priority, perfected ownership
interest in the Asset Interest free and clear of any Adverse Claim or (ii) to create or maintain a valid and first priority, perfected security interest in favor of the Administrative Agent, for the benefit of the Secured Parties, in the Affected
Assets, free and clear of any Adverse Claim; 
  
 (d) the failure
to file, or any delay in filing, financing statements, continuation statements, amendments or other similar instruments or documents under the UCC or the Federal Aviation Act or any similar statute of any applicable jurisdiction or other applicable
laws with respect to any of the Affected Assets or the failure to file, or any delay in filing, any other Security Agreement; 
  
 (e) any dispute, claim, offset or defense (other than discharge in bankruptcy) of the Obligor to the payment of any Receivable (including a defense based
on such Receivable or the related Contract not being the legal, valid and binding obligation of such Obligor enforceable against it in accordance with its terms), or any other claim resulting from the sale of merchandise or services related to such
Receivable or the furnishing or failure to furnish such merchandise or services, or from any breach or alleged breach of any provision of the Receivables or the related Contracts restricting assignment of any Receivables; 
  

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 (f) any failure of any Raytheon Entity to perform its duties or obligations in accordance with the
provisions hereof or any other Transaction Document which is a party; 
  
 (g) any products liability claim or personal injury or property damage suit or other similar or related claim or action of whatever sort arising out of or in connection with Aircraft or Aircraft Fractional Shares which are the subject of
any Receivable; 
  
 (h) the transfer of an interest pursuant to
the terms of this Agreement in any Receivable other than an Eligible Receivable at the time of such transfer; 
  
 (i) the failure by any Raytheon Entity to comply with any term, provision or covenant contained in this Agreement or any of the other Transaction
Documents to which it is a party or to perform any of its respective duties or obligations under the Receivables or related Contracts; 
  
 (j) the failure of the Seller or the Servicer to pay when due any sales, excise or personal property taxes payable in connection with any of the
Receivables or any other Affected Asset (other than any tax with respect to any Aircraft for which the related Obligor is responsible under the related Contract); 
  
 (k) any repayment by any Indemnified Party of any amount previously distributed in reduction of Net Investment which such
Indemnified Party believes in good faith is required to be made to the extent that such amount was distributed to the Seller pursuant to Section 2.12; 
  
 (l) the commingling by the Seller or the Servicer of Collections at any time with any other funds; 
  
 (m) any investigation, litigation or proceeding related to this Agreement,
any of the other Transaction Documents, the use of proceeds of the Investment by the Seller or the Servicer, the ownership of the Asset Interest, or any Affected Asset; 
  
 (n) any failure of any Blocked Account Bank to remit any amounts held in the related Blocked Account or any related post
office boxes or lock-boxes pursuant to, and in accordance with, the terms hereof and of the applicable Blocked Account Agreement, whether by reason of the exercise of set-off rights or otherwise; 
  
 (o) any inability to obtain any judgment in or utilize the court or other
adjudication system of, any jurisdiction in which an Obligor may be located as a result of the failure of the Seller or the Servicer to qualify to do business or file any notice of business activity report or any similar report; 
  
 (p) any attempt by any Person to void, rescind or set-aside any transfer of
the Originator’s right, title and interest in the Affected Assets to the Transferor or any transfer of the Transferor’s right, title and interest in the Affected Assets to the Seller, whether under statutory provisions or common law or
equitable action, including any provision of the Bankruptcy Code or other insolvency law; 
  

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 (q) any action taken by the Seller or the Servicer in the enforcement or collection of any Receivable,
subject to Section 7.8 (with the same exculpatory language in Section 7.8 being applied to the Seller as if such Section 7.8 were also applicable to the Seller); 
  
 (r) the use of the proceeds of the Investment; or 
  
 (s) the transactions contemplated hereby being characterized as other than debt for the purposes of the Code; or 

 
 (t) any dispute or claim of any Person or third party related to or in
connection with the existence of more than one originally executed counterpart of a Contract constituting chattel paper. 
  
 SECTION 9.2 Indemnity for Taxes, Reserves and Expenses. (a) If the adoption of any Law or bank regulatory guideline or any amendment or change in
the administration, interpretation or application of any existing or future Law or bank regulatory guideline by any Official Body charged with the administration, interpretation or application thereof, or the compliance with any directive of any
Official Body (in the case of any bank regulatory guideline, whether or not having the force of Law) occurring after the Closing Date: 
  
 (i) shall subject any of the Affected Parties, or a lending office of an Affected Party, to any tax, duty or other charge (other than
Excluded Taxes) with respect to any of the Transaction Documents, the ownership, maintenance or financing of the Asset Interest, or payments of amounts due hereunder or thereunder, or shall change the basis of taxation of payments to any Affected
Party of amounts payable in respect of any of the Transaction Documents, the ownership, maintenance or financing of the Asset Interest, or payments of amounts due hereunder or thereunder or its obligation to advance funds hereunder or thereunder,
under a Program Support Agreement or the credit or liquidity support furnished by a Program Support Provider or otherwise in respect of any of the Transaction Documents, the ownership, maintenance or financing of the Asset Interest (except for
changes in the rate of income tax imposed on such Affected Party by the jurisdiction in which such Affected Party’s principal executive office is located); 
  
 (ii) shall impose, modify or deem applicable any reserve, special deposit or similar requirement (including
any such requirement imposed by the Board of Governors of the Federal Reserve System) against assets of, deposits with or for the account of, or credit extended by, any Affected Party or shall impose on any Affected Party or on the United States
market for certificates of deposit or the London interbank market any other condition affecting any of the Transaction Documents, the ownership, maintenance or financing of the Asset Interest, or payments of amounts due hereunder or thereunder or
its obligation to advance funds hereunder or thereunder, under a Program Support Agreement or the credit or liquidity support provided by a Program Support Provider or otherwise in respect of any of the Transaction Documents, the ownership,
maintenance or financing of the Asset Interest; or 
  

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 (iii) imposes upon any Affected Party any other condition or expense (including any loss
of margin, reasonable attorneys’ fees and expenses, and expenses of litigation or preparation therefor in contesting any of the foregoing) with respect to any of the Transaction Documents, the ownership, maintenance or financing of the Asset
Interest, or payments of amounts due hereunder or thereunder or its obligation to advance funds hereunder or thereunder or under a Program Support Agreement or the credit or liquidity support furnished by a Program Support Provider thereof or
otherwise in respect of any of the Transaction Documents, the ownership, maintenance or financing of the Asset Interest, 
  
 and the result of any of the foregoing is to increase the cost to or to reduce the amount of any sum received or receivable by such Affected Party with respect to any of
the Transaction Documents, the ownership, maintenance or financing of the Asset Interest, the Receivables, the obligations hereunder and thereunder, the funding of any purchases hereunder and thereunder or a Program Support Agreement, by an amount
deemed by such Affected Party to be material, then, upon notice by such Affected Party through the Administrative Agent, the Seller shall pay to the Collection Account, such additional amount or amounts as will compensate such Affected Party for
such increased cost or reduction. 
  
 (b) If any Affected Party
shall have determined that, the adoption of any applicable Law or bank regulatory guideline regarding capital adequacy, or any change therein, or any change in the interpretation or administration thereof by any Official Body, or any request or
directive regarding capital adequacy (in the case of any bank regulatory guideline, whether or not having the force of law) of any such Official Body, has or would have the effect of reducing the rate of return on capital of such Affected Party (or
its parent) as a consequence of such Affected Party’s obligations under the Transaction Documents or with respect thereto to a level below that which such Affected Party (or its parent) could have achieved but for such adoption, change, request
or directive (taking into consideration its policies with respect to capital adequacy) by an amount deemed by such Affected Party to be material, then, by such Affected Party through the Administrative Agent, the Seller shall pay to the Collection
Account within ten (10) days, such additional amount or amounts as will compensate such Affected Party (or its parent) for such reduction. For avoidance of doubt, any accounting interpretation, including, without limitation. Accounting Research
Bulletin No. 41, or any other interpretation of the Financial Accounting Standards Board (“FASB”), including FASB Interpretation No. 46: Consolidation of Variable Interest Entities, shall constitute an adoption, change, request or
directive subject to this Section 9.2(b). 
  
 (c) The
Administrative Agent shall promptly notify the Seller of any event of which it has knowledge, occurring after the date hereof, which will entitle an Affected Party to compensation pursuant to this Section 9.2; provided that no failure
to give or any delay in giving such notice shall affect the Affected Party’s right to receive such compensation. A notice by the Administrative Agent or the applicable Affected Party claiming compensation under this Section 9.2 and
setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error. In determining such amount, the Administrative Agent or any applicable Affected Party may use any reasonable averaging
and attributing methods. 
  

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 (d) Each party hereto hereby agrees that, subject to any adjustment as provided herein in the event of
any future change in applicable Law or regulation, so long as the transactions contemplated by this Agreement (after giving effect to the Insurance Policy) continue to be rated “AAA” (or its equivalent) by each of the Rating Agencies, in
no event shall the Yield plus any increased costs which are attributable to FASB Interpretation No. 46 exceed a rate per annum equivalent to the Offshore Rate plus seventy-five basis points (0.75%) per annum. 
  
 SECTION 9.3 Taxes. All payments and distributions made hereunder by
the Seller or the Servicer (each, a “Payor”) to the Insurer, any Purchaser, the Administrative Agent or any other Secured Party (each, a “Payee”) shall be made free and clear of and without deduction for any present
or future income, excise, stamp or franchise taxes and any other taxes, fees, duties, withholdings or other charges of any nature whatsoever imposed by any taxing authority on any Payee (or any assignee of such parties) (such non-excluded items
being called “Taxes”), but excluding franchise taxes and taxes imposed on or measured by the Payee’s net income or gross receipts (“Excluded Taxes”). In the event that any withholding or deduction from any
payment made by the Payor hereunder is required in respect of any Taxes, then such Payor shall: 
  
 (a) pay directly to the relevant authority the full amount required to be so withheld or deducted; 
  
 (b) promptly forward to the Administrative Agent and the Payee an official
receipt or other documentation satisfactory to the Administrative Agent evidencing such payment to such authority; and 
  
 (c) pay to the Collection Account for distribution to such Payee such additional amount or amounts as is necessary to ensure that the net amount actually
received by the Payee will equal the full amount such Payee would have received had no such withholding or deduction been required. 
  
 Moreover, if any Taxes are directly asserted against any Payee with respect to any payment received by such Payee hereunder, the Payee may pay such Taxes
and the Payor will promptly pay such additional amounts (including any penalties, interest or expenses) as shall be necessary in order that the net amount received by the Payee after the payment of such Taxes (including any Taxes on such additional
amount) shall equal the amount such Payee would have received had such Taxes not been asserted. 
  
 If the Payor fails to pay any Taxes when due to the appropriate taxing authority or fails to remit to the Payee the required receipts or other required
documentary evidence, the Payor shall indemnify the Payee for any incremental Taxes, interest, or penalties that may become payable by any Payee as a result of any such failure. 
  
 SECTION 9.4 Other Costs and Expenses; Breakage Costs. The Seller agrees upon receipt of a written invoice, to pay or
cause to be paid (to the Collection Account), and to save the Purchasers, the Administrative Agent and the Insurer harmless against liability for the payment of, all reasonable out-of-pocket expenses (including attorneys’, accountants’ and
other third parties’ fees and expenses, any filing fees and expenses (including without limitation, due diligence expenses) incurred by officers or employees of any Purchaser and/or the 
  

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 Administrative Agent and/or the Insurer) or intangible, documentary or recording taxes incurred by or on behalf of any
Purchaser or the Administrative Agent (i) in connection with the preparation, negotiation, execution and delivery of this Agreement, the other Transaction Documents and any documents or instruments delivered pursuant hereto and thereto and the
transactions contemplated hereby or thereby (including the perfection or protection of the Asset Interest) and (ii) from time to time (A) relating to any amendments, waivers or consents under this Agreement and the other Transaction Documents, (B)
arising in connection with any of the Purchaser’s, the Administrative Agent’s or the Insurer’s enforcement or preservation of rights (including, without limitation, the perfection, protection or maintenance of value (after the
occurrence of a Servicer Default) of the Asset Interest and other actions described in Section 6.1(n), in each case, to the extent that the Servicer has failed to perform such actions) or (C) arising in connection with any audit, dispute,
disagreement, litigation or preparation for litigation involving this Agreement or any of the other Transaction Documents (all of such amounts, collectively, “Transaction Costs”; it being understood that any Transaction Costs
paid by the Seller for the protection or maintenance of value (after the occurrence of a Servicer Default) of the Asset Interest shall be deemed to be Permissible Servicer Expenses for all purposes of this Agreement, and such Transaction Costs shall
be entitled to be reimbursed from any related Recovery Proceeds or pursuant to clause (viii) of Section 2.12). 
  
 SECTION 9.5 [Reserved]. 
  
 SECTION 9.6 Indemnities by the Servicer. (a) Without limiting any other rights which the Administrative Agent, any of the Purchasers, the Insurer
or the other Indemnified Parties may have hereunder or under applicable Law, but subject to the limitations contained in Section 7.8, the Servicer hereby agrees to indemnify and hold harmless on an after tax basis, each of the Indemnified
Parties from and against any and all Indemnified Amounts (but not including special, exemplary, punitive or consequential losses) arising out of or resulting from (whether directly or indirectly) (A) the failure of any information contained in any
Monthly Servicer Report (to the extent provided by the Servicer) to be true, complete and correct, or the failure of any other information provided to any Indemnified Party by, or on behalf of, the Servicer to be true, complete and correct, (B) the
failure of any representation, warranty or statement made or deemed made by the Servicer (or any of its officers) under or in connection with this Agreement or any other Transaction Document to which it is a party, to have been true, complete and
correct as of the date made or deemed made, (C) the failure by the Servicer to comply with any applicable Law with respect to any Receivable or the related Contract, (D) any dispute, claim, offset or defense of the Obligor to the payment of any
Receivable resulting from or related to the collection activities in respect of such Receivable not performed in accordance with the Standard of Care, or (E) any failure of the Servicer to perform its duties (including the Services) or obligations
in accordance with the Standard of Care or any other term or provision of this Agreement. The Servicer hereby agrees to pay each Indemnified Party such Indemnified Amounts promptly upon written demand from such Person (or the Administrative Agent on
behalf of such Person). 
  
 (b) Each Indemnified Party shall
promptly notify the Administrative Agent and the Insurer of any event of which it has knowledge, occurring after the date hereof, which will entitle an Indemnified Party to compensation pursuant to this Section 9.6; provided that no
failure to give or any delay in giving such notice shall affect the Indemnified Party’s right to receive such 
  

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 compensation. A notice by the Administrative Agent or the applicable Indemnified Party claiming compensation under this
Section 9.6 and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error. 
  
 ARTICLE X 
  
 THE ADMINISTRATIVE AGENT 
  
 SECTION 10.1 Appointment and Authorization of the Administrative Agent. Each Purchaser and the Insurer hereby irrevocably appoints, designates and authorizes the Administrative Agent to take such action on its
behalf under the provisions of this Agreement and each other Transaction Document and to exercise such powers and perform such duties as are expressly delegated to the Administrative Agent by the terms of this Agreement and any other Transaction
Document, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere in this Agreement or in any other Transaction Document, the Administrative Agent shall not have any
duties or responsibilities, except those expressly set forth in this Agreement, nor shall the Administrative Agent have or be deemed to have any fiduciary relationship with any Purchaser or the Insurer, and no implied covenants, functions,
responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Transaction Document or otherwise exist against the Administrative Agent. Without limiting the generality of the foregoing sentence, the use of the
term “agent” in this Agreement with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead, such term is used
merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties. 
  
 SECTION 10.2 Delegation of Duties. The Administrative Agent may execute any of its duties under this Agreement or any other Transaction Document by
or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. The Administrative Agent shall not be responsible for the negligence or misconduct of any agent or
attorney-in-fact that it selects with reasonable care. 
  
 SECTION
10.3 Liability of the Administrative Agent. No Agent-Related Person shall (a) be liable for any action taken or omitted to be taken by any of them under or in connection with this Agreement or any other Transaction Document or the
transactions contemplated hereby (except for its own gross negligence or willful misconduct), or (ii) be responsible in any manner to any Purchaser or the Insurer for any recital, statement, representation, warranty or covenant made by the
Transferor, the Seller or the Servicer, or any officer thereof, contained in this Agreement or in any other Transaction Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the
Administrative Agent under or in connection with, this Agreement or any other Transaction Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Transaction Document, or for any failure of
the Transferor, the Seller, the Servicer or any other party to any Transaction Document to perform its obligations hereunder or thereunder. No Agent-Related Person shall be under any obligation to any Purchaser or the Insurer to ascertain or to
inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Transaction Document, or to inspect the properties, books or records of the Transferor, the Seller or the Servicer or
any of their respective Affiliates. 
  

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 SECTION 10.4 Reliance by the Administrative Agent. (a) The Administrative Agent shall be entitled
to rely, and shall be fully protected in relying, upon any writing, resolution, notice, consent, certificate, affidavit, letter, telegram, facsimile, telex or telephone message, statement or other document or conversation believed by it to be
genuine and correct and to have been signed, sent or made by or on behalf of the proper Person or Persons, and upon advice and statements of legal counsel (including counsel to the Insurer, the Originator, the Transferor, the Seller or the Servicer
or the Performance Guarantor), independent accountants and other experts selected by the Administrative Agent or the Insurer. The Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or any
other Transaction Document unless it shall first receive such advice or concurrence of the Insurer (in the case where the Insurer is the Control Party) or Majority Purchasers (in the case where the Administrative Agent is the Control Party) as it
deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by the Insurer or the Purchasers, as applicable, against any and all liability and expense which may be incurred by it by reason of taking or continuing to
take any such action. The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Transaction Document in accordance with a request or consent of the Insurer (in the case
where the Insurer is the Control Party) and the Majority Purchasers (in the case where the Administrative Agent is the Control Party) or, if required hereunder, all Purchasers and such request and any action taken or failure to act pursuant thereto
shall be binding upon the Insurer and such Purchasers, as the case may be. 
  
 (b) For purposes of determining compliance with the conditions specified in Article V on the Closing Date, each Purchaser that has executed this Agreement and the Insurer shall be deemed to have consented to,
approved or accepted or to be satisfied with, each document or other matter either sent by the Administrative Agent to such Purchaser or the Insurer for consent, approval, acceptance or satisfaction, or required thereunder to be consented to or
approved by or acceptable or satisfactory to such Purchaser or the Insurer, as applicable. 
  
 SECTION 10.5 Notice of Event of Default, Unmatured Event of Default, Servicer Default or Unmatured Servicer Default. The Administrative Agent shall not be deemed to have knowledge or notice from any Raytheon
Entity, any Purchaser, the Servicer, or the Insurer of the occurrence of an Unmatured Event of Default, an Event of Default, an Unmatured Servicer Default or a Servicer Default, unless the Administrative Agent has received written notice from the
Insurer, a Purchaser or the Servicer referring to this Agreement, describing such Unmatured Event of Default, Event of Default, Unmatured Servicer Default or Servicer Default, and stating that such notice is a “Notice of Event of Default or
Unmatured Event of Default” or “Notice of Servicer Default or Unmatured Servicer Default,” as applicable. The Administrative Agent will notify the Purchasers and the Insurer of its receipt of any such notice. The Administrative Agent
shall (subject to Section 10.4) take, or refrain from taking, such action with respect to such Unmatured Event of Default, Event of Default, Unmatured Servicer Default or Servicer Default as may be requested by the Insurer (in the case where
the Insurer is the Control Party) or the Majority Purchasers (in the case where the Administrative Agent is the Control Party); provided, however, that, unless and until the Administrative Agent shall have received any such request,
the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Unmatured Event of Default, Event of Default, Unmatured Servicer Default or Servicer Default as it shall deem
advisable or in the best interest of the Purchasers. 
  

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 SECTION 10.6 Credit Decision; Disclosure of Information by the Administrative Agent. Each
Purchaser and the Insurer acknowledges that none of the Agent-Related Persons has made any representation or warranty to it, and that no act by the Administrative Agent hereinafter taken, including any consent to and acceptance of any assignment or
review of the affairs of the Transferor, the Seller or the Servicer or any of their respective Affiliates, shall be deemed to constitute any representation or warranty by any Agent-Related Person to any Purchaser or the Insurer as to any matter,
including whether the Agent-Related Persons have disclosed material information in their possession. Each Purchaser, including any Purchaser by assignment, and the Insurer represents to the Administrative Agent that it has, independently and without
reliance upon any Agent-Related Person and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, prospects, operations, property, financial and other condition and
creditworthiness of the Transferor, the Seller or the Servicer or any of their respective Affiliates, and all applicable bank regulatory laws relating to the transactions contemplated hereby, and made its own decision to enter into this Agreement
and to extend credit to the Seller hereunder. Each Purchaser and the Insurer also represents that it shall, independently and without reliance upon any Agent-Related Person and based on such documents and information as it shall deem appropriate at
the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Transaction Documents, and to make such investigations as it deems necessary to inform itself as to the
business, prospects, operations, property, financial and other condition and creditworthiness of the Transferor, the Seller or the Servicer. Except for notices, reports and other documents expressly herein required to be furnished to the Purchasers
and the Insurer by the Administrative Agent herein, the Administrative Agent shall not have any duty or responsibility to provide any Purchaser or the Insurer with any credit or other information concerning the business, prospects, operations,
property, financial and other condition or creditworthiness of the Transferor, the Seller or the Servicer or any of their respective Affiliates which may come into the possession of any of the Agent-Related Persons. 
  
 SECTION 10.7 Indemnification of the Administrative Agent. Whether or
not the transactions contemplated hereby are consummated, the Alternate Purchasers shall indemnify upon demand each Agent-Related Person (to the extent not reimbursed by or on behalf of the Seller and without limiting the obligation of the Seller to
do so), pro rata, and hold harmless each Agent-Related Person from and against any and all Indemnified Amounts incurred by it; provided, however, that no Alternate Purchaser shall be liable for the payment to any Agent-Related
Person of any portion of such Indemnified Amounts resulting from such Person’s gross negligence or willful misconduct, as finally determined by a court of competent jurisdiction; provided, however, that no action taken in
accordance with the directions of the Insurer (in the case where the Insurer is the Control Party) or the Majority Purchasers (in the case where the Administrative Agent is the Control Party) shall be deemed to constitute gross negligence or willful
misconduct for purposes of this Section 10.7. Without limitation of the foregoing, each Alternate Purchaser shall reimburse the Administrative Agent upon demand for its ratable share of any costs or out-of-pocket expenses (including
attorney’s fees) incurred by the Administrative Agent in connection with the preparation, negotiation, execution, delivery, administration, 
  

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 modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice
in respect of rights or responsibilities under, this Agreement, any other Transaction Document, or any document contemplated by or referred to herein, to the extent that the Administrative Agent is not reimbursed for such expenses by or on behalf of
the Seller. The undertaking in this Section 10.7 shall survive payment on the Final Payout Date and the resignation or replacement of the Administrative Agent. 
  
 SECTION 10.8 Administrative Agent in Individual Capacity. Bank of America (and any successor acting as Administrative
Agent) and its Affiliates may make loans to, issue letters of credit for the account of, accept deposits from, acquire equity interests in and generally engage in any kind of banking, trust, financial advisory, underwriting or other business with
any of the Originator, the Transferor, the Seller, the Servicer and the Performance Guarantor or any of their Subsidiaries or Affiliates as though Bank of America were not the Administrative Agent or an Alternate Purchaser hereunder and without
notice to or consent of any of the Purchasers or the Insurer. The Purchasers and the Insurer acknowledge that, pursuant to such activities, Bank of America or its Affiliates may receive information regarding the Originator, the Transferor, the
Seller, the Servicer and the Performance Guarantor or any of their respective Affiliates (including information that may be subject to confidentiality obligations in favor of such Person) and acknowledge that Bank of America (and its Affiliates)
shall be under no obligation to provide such information to them. With respect to its Commitment, Bank of America (and any successor acting as Administrative Agent) in its capacity as an Alternate Purchaser hereunder shall have the same rights and
powers under this Agreement as any other Alternate Purchaser and may exercise the same as though it were not the Administrative Agent or an Alternate Purchaser, and the term “Alternate Purchaser” or “Alternate Purchasers” shall,
unless the context otherwise indicates, include the Administrative Agent in its individual capacity. 
  
 SECTION 10.9 Resignation or Removal of Administrative Agent. (a) The Administrative Agent may resign as Administrative Agent upon thirty (30)
days’ notice to the Purchasers, the Insurer and each of the Rating Agencies. The Administrative Agent may be removed by the Control Party “for cause” upon thirty (30) days’ written notice from the Control Party to the Seller, the
Servicer, the Administrative Agent, each Purchaser and each of the Rating Agencies. For purposes of this Section 10.9(a), “for cause” means the occurrence and continuance of any of the following: 
  
 (i) an Event of Bankruptcy with respect to the
Administrative Agent; 
  
 (ii) the Administrative
Agent shall violate, in any material respect, any provision of this Agreement or any other Transaction Documents to which it is a party, which violation has not been cured (if capable of being cured) within thirty (30) days of the Administrative
Agent receiving notice from the Control Party of such violation; or 
  
 (iii) the occurrence of an act by the Administrative Agent that constitutes fraud, gross negligence, misappropriation of funds, willful misconduct, criminal activity or other material violation of law in the
performance of its obligations under this Agreement or any other Transaction Document to which it is a party or in any other agreement under which the Administrative Agent acts as an agent or secured party on behalf of the Control Party. 

 

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 (b) If the Administrative Agent resigns or is removed for cause pursuant to Section 10.9(a), any
successor Administrative Agent must be reasonably acceptable to each of the Majority Purchasers and the Insurer (if the Insurer is the Control Party). If the Insurer is the Control Party and the Insurer and the Majority Purchasers cannot agree on a
satisfactory successor within the thirty (30) day after such resignation or removal, then the Insurer may designate a successor Administrative Agent to act as secured party on behalf of the Secured Parties, and such successor Administrative Agent
shall have the rights (i) to exercise all rights and remedies of the Administrative Agent with respect to the Transaction Documents, including with respect to any Receivables or other Affected Assets or other property transferred or collateral
pledged under the Transaction Documents, (ii) to receive from the Raytheon Entities all payments required to be submitted to the Administrative Agent under the Transaction Documents, (iii) to maintain ownership and control of and to administer the
Collection Account and the allocations of payments from the funds on deposit therein and (iv) to possession of each letter of credit and each other instrument, document and certificate included in the Affected Assets. Such successor Administrative
Agent shall not, however, unless the Purchasers otherwise agree, be entitled to act as Administrator or otherwise administer the Transaction Documents on behalf of the Conduit Purchaser or in connection with any transfers from the Conduit Purchaser
to the Alternate Purchasers under this Agreement. The provisions of Article X shall insure to the benefit of such successor Administrative Agent to the extent of the rights, duties and obligations assumed by it. 
  
 (c) This Section 10.9 shall not limit the effect of any other Section
of this Article X. 
  
 SECTION 10.10 Payments by the
Administrative Agent. Unless specifically allocated to an Alternate Purchaser pursuant to the terms of this Agreement, all amounts received by the Administrative Agent shall be paid subject to and in accordance with the priorities for payment
set forth in Section 2.12. 
  
 SECTION 10.11
Administrative Agent to Hold Letters of Credit. After (i) the occurrence of a Servicer Default or (ii) such time as the Performance Guarantor ceases to be rated at least “BBB-” (or its equivalent) by each of the Rating Agencies, the
Servicer shall deliver to the Administrative Agent and thereafter the Administrative Agent, on behalf of the Secured Parties shall hold (or cause to be held by a third-party bailee acceptable to each of the Administrative Agent and the Control
Party) all letters of credit associated with any Receivables. 
  

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 ARTICLE XI 
  

MISCELLANEOUS 
  
 SECTION 11.1 Term of Agreement. This Agreement shall terminate on the Final Payout Date; provided, however, that (i) the rights and
remedies of the Administrative Agent, the Purchasers, the Administrator and the Insurer with respect to any representation and warranty made or deemed to be made by the Transferor or the Seller pursuant to this Agreement, (ii) the indemnification
and payment provisions of Article IX, (iii) the provisions of Section 10.7 and (iv) the agreements set forth in Sections 11.11 and 11.12, shall be continuing and shall survive any termination of this Agreement.

  
 SECTION 11.2 Waivers; Amendments. (a) No failure or
delay on the part of the Administrative Agent, the Purchasers, the Administrator, any Alternate Purchaser or the Insurer in exercising any power, right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial
exercise of any such power, right or remedy preclude any other further exercise thereof or the exercise of any other power, right or remedy. The rights and remedies herein provided shall be cumulative and nonexclusive of any rights or remedies
provided by law. 
  
 (b) Any provision of this Agreement
(including, without limitation, Schedule I) may be amended or waived if, but only if, such amendment or waiver is in writing and is signed by the Transferor, the Seller, the Servicer, the Administrative Agent and the Control Party;
provided, that if the Insurer is not the Control Party, no such amendment or waiver shall, unless signed directly by the Insurer: 
  
 (i) amend, modify or waive any provision of the Transaction Documents in any way which would reduce the fees, reimbursements and amounts
payable to the Insurer under the Transaction Documents (including any reimbursement obligations under the Insurance and Reimbursement Agreement or any rights to payment the Insurer has obtained due to the subrogation of the rights of the Purchasers
and the Administrative Agent to the Insurer) or delay the payment of any such amounts or eliminate any indemnification claim or any recourse which the Insurer has or may have against any party to the Transaction Documents; 
  
 (ii) amend, modify or waive any provisions of the
Transaction Documents (A) expressly relating to the rights of the Insurer or the representations, warranties, covenants and agreements in favor of the Insurer under the Transaction Documents, or (B) otherwise granting any privileges to the Insurer;

  
 (iii) modify any provision of Section
2.12 or, directly or indirectly, any of the substantive provisions of Section 2.12 (including, without limitation, the priority for payment or the distribution amounts set forth in Section 2.12), in any manner that adversely
affects the Insurer; provided, that nothing in this Agreement or any other Transaction Document shall require the consent of the Insurer to any change or modification to the definition of “Administrative Agent Fee Letter” or
“Purchaser Fee Letter” except as provided in such definitions; 
  

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 (iv) to the extent any Aggregate Unpaids are then due and owing to the Insurer, release
the Performance Guarantor from any of its obligations under the Performance Guaranty; 
  
 (v) to the extent any Aggregate Unpaids are then due and owing to the Insurer, amend, modify or waive the provisions relating to payments
of Permitted Dividends so as to relax the restrictions on such payments; or 
  
 (vi) to the extent any Aggregate Unpaids are then due and owing to the Insurer, release any Asset Interest or Affected Assets or any other pledged collateral from the security interests and liens created under the
Transaction Documents; 
  
 provided, further that
no such amendment or waiver shall, unless signed by each Alternate Purchaser directly affected thereby, (i) increase the Commitment of an Alternate Purchaser, (ii) reduce the Net Investment or rate of Yield to accrue thereon or any fees or other
amounts payable hereunder, (iii) postpone any date fixed for the payment of any scheduled distribution in respect of the Net Investment or Yield with respect thereto or any fees or other amounts payable hereunder or for termination of any
Commitment, (iv) change the percentage of the Commitments of Alternate Purchasers which shall be required for the Alternate Purchasers or any of them to take any action under this Section 11.2 or any other provision of this Agreement, (v)
release all or substantially all of the property with respect to which a security or ownership interest therein has been granted hereunder to the Administrative Agent or the Alternate Purchasers or (vi) extend or permit the extension of the
Termination Date (it being understood that a waiver of an Event of Default shall not constitute an extension or increase in the Commitment of any Alternate Purchaser); and provided, further, that the signature of the Transferor,
the Seller and the Servicer shall not be required for the effectiveness of any amendment which modifies the representations, warranties, covenants or responsibilities of the Servicer at any time when the Servicer is not RACC or any Affiliate of RACC
or a successor Servicer is designated pursuant to Section 7.1(a). In the event the Administrative Agent requests a Purchaser’s consent pursuant to the foregoing provisions and the Administrative Agent does not receive a consent (either
positive or negative) from the such Purchaser within ten (10) Business Days of such Purchaser’s receipt of such request, then such Purchaser (and its percentage interest hereunder) shall be disregarded in determining whether the sufficient
consent hereunder has been obtained. The Servicer shall provide promptly, and in any event within ten (10) Business Days after effectiveness, written notice to each of the Rating Agencies of each amendment to, or waiver of any term or provision of,
this Agreement. 
  
 SECTION 11.3 Notices; Payment
Information. Except as provided below, all communications and notices and payments provided for hereunder shall be in writing (including facsimile or electronic transmission or similar writing) and shall be given to the other party at its
address or facsimile number and, in the case of payments, sent by wire transfer pursuant to the wire transfer instructions for such party set forth in Schedule 11.3 or at such other address or facsimile number or pursuant to such other wire
transfer instructions as such party may hereafter specify in writing for the purposes of notice or payment to each other party hereto. Each such notice or other communication shall be effective (i) if given by facsimile, when such facsimile is

  

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 transmitted to the facsimile number specified in this Section 11.3 and confirmation is received, (ii) if given by
mail, three (3) Business Days following such posting, if postage prepaid and sent via U.S. certified or registered mail, (iii) if given by overnight courier, one (1) Business Day after deposit thereof with a national overnight courier service, or
(iv) if given by any other means, when received at the address specified in this Section 11.3. 
  
 SECTION 11.4 Governing Law; Submission to Jurisdiction; Appointment of Service Agent. 
  
 (a) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT
REFERENCE TO THE CONFLICTS OF LAW PRINCIPLES THEREOF OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). EACH OF THE ORIGINATOR, THE TRANSFEROR, THE SELLER AND THE SERVICER HEREBY SUBMITS TO THE NONEXCLUSIVE JURISDICTION
OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND OF ANY NEW YORK STATE COURT SITTING IN THE CITY OF NEW YORK FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER TRANSACTION
DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH OF THE ORIGINATOR, THE TRANSFEROR, THE SELLER AND THE SERVICER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER
HAVE TO THE LAYING OF THE VENUE OF ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. NOTHING IN THIS SECTION 11.4 SHALL AFFECT THE RIGHT OF
THE ADMINISTRATIVE AGENT, ANY OF THE PURCHASERS OR THE INSURER TO BRING ANY ACTION OR PROCEEDING AGAINST ANY OF THE ORIGINATOR, THE TRANSFEROR, THE SELLER OR THE SERVICER OR ANY OF THEIR RESPECTIVE PROPERTY IN THE COURTS OF OTHER JURISDICTIONS.

  
 (b) EACH OF THE PARTIES HERETO HEREBY WAIVES ANY RIGHT TO HAVE
A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG ANY OF THEM ARISING OUT OF, CONNECTED WITH, RELATING TO OR INCIDENTAL TO THE RELATIONSHIP BETWEEN THEM IN CONNECTION WITH THIS AGREEMENT OR THE OTHER
TRANSACTION DOCUMENTS. 
  
 (c) The Originator, the Transferor, the
Seller and the Servicer each hereby appoint CT Corporation System located at 111 8th Avenue, New York, New York
10011 as the authorized agent upon whom process may be served in any action arising out of or based upon this Agreement, the other Transaction Documents to which such Person is a party or the transactions contemplated hereby or thereby that may be
instituted in the United States District Court for the Southern District of New York and of any New York State court sitting in The City of New York by any Purchaser, the Administrative Agent, the Administrator or any successor or assignee of any of
them. 
  

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 SECTION 11.5 Integration. This Agreement contains the final and complete integration of all prior
expressions by the parties hereto with respect to the subject matter hereof and shall (together with the other Transaction Documents) constitute the entire agreement among the parties, hereto with respect to the subject matter hereof superseding all
prior oral or written understandings. 
  
 SECTION 11.6
Severability of Provisions. If any one or more of the provisions of this Agreement shall for any reason whatsoever be held invalid, then such provisions shall be deemed severable from the remaining provisions of this Agreement and shall in no
way affect the validity or enforceability of such other provisions. 
  
 SECTION 11.7 Counterparts; Facsimile Delivery. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same Agreement. Delivery by facsimile of an executed signature page of this Agreement shall be effective as delivery of an executed counterpart hereof. 
  
 SECTION 11.8 Successors and Assigns; Binding Effect. (a) This
Agreement shall be binding on the parties hereto and their respective successors and assigns; provided, however, that none of the Raytheon Entities or any of their respective Affiliates shall assign (or shall permit or cause the
assignment of) any of their respective rights, duties (including the Services, except duties delegated to a Sub-Servicer in accordance with and subject to the provisions of this Agreement) or obligations related to or in connection with this
Agreement or any of the other Transaction Documents, without the prior written consent the Administrative Agent and, if no Insurer Default has occurred and is continuing, the Insurer. Notwithstanding the foregoing, the Transferor shall be entitled
to sell no more than ninety-five percent (95%) of its interest in the Seller or the cash flow distributable thereto representing the Seller’s subordinated interest in the Receivables and the other Affected Assets constituting the difference
between the Unpaid Balance (as of the Closing Date) and the Investment (without giving effect to any reduction therein), and shall at all times retain at least five percent (5%) of the total of any such interest. Prior to the sale of any such
interest, the Administrative Agent and, if no Insurer Default has occurred and is continuing, the Insurer, shall have received evidence satisfactory to such Person that the subordinated interest so sold is the subject of a subordination agreement
and related legal opinions (including (i) an opinion to the effect that such sale will not result in adverse tax consequences to the Transferor, the Seller or any Purchaser and (ii) opinions affirming or reaffirming, after giving effect to such
sale, each of the “true sale” and “non-consolidation” opinions of Bingham McCutchen LLP delivered pursuant to Section 5.1), which subordination agreements and legal opinions in each case, shall be in form and substance
reasonably acceptable to the Administrative Agent and, if no Insurer Default has occurred and is continuing, the Insurer. Except as provided in Section 11.8 (b) below, no provision of this Agreement shall in any manner restrict the ability of
any Purchaser to assign, participate, grant security interests in, or otherwise transfer any portion of the Asset Interest. 
  
 (b) Any Alternate Purchaser may assign all or any portion of its Commitment and its interest in the Net Investment, the Asset Interest and its other
rights and obligations hereunder to any Person with the written approval of the Administrator, on behalf of the Conduit Purchaser, and the Administrative Agent. In connection with any such assignment, the assignor shall 
  

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 deliver to the assignee(s) an Assignment and Assumption Agreement, duly executed, assigning to such assignee a pro
rata interest in such assignor’s Commitment and other obligations hereunder and in the Net Investment, the Asset Interest and other rights hereunder, and such assignor shall promptly execute and deliver all further instruments and
documents, and take all further action, that the assignee may reasonably request, in order to protect, or more fully evidence the assignee’s right, title and interest in and to such interest and to enable the Administrative Agent, on behalf of
such assignee, to exercise or enforce any rights hereunder and under the other Transaction Documents to which such assignor is or, immediately prior to such assignment, was a party. Upon any such assignment, (i) the assignee shall have all of the
rights and obligations of the assignor hereunder and under the other Transaction Documents to which such assignor is or, immediately prior to such assignment, was a party with respect to such assignor’s Commitment and interest in the Net
Investment and the Asset Interest for all purposes of this Agreement and under the other Transaction Documents to which such assignor is or, immediately prior to such assignment, was a party and (ii) the assignor shall have no further obligations
with respect to the portion of its Commitment which has been assigned and shall relinquish its rights with respect to the portion of its interest in the Net Investment and the Asset Interest which has been assigned for all purposes of this Agreement
and under the other Transaction Documents to which such assignor is or, immediately prior to such assignment, was a party. No such assignment shall be effective unless a fully executed copy of the related Assignment and Assumption Agreement shall be
delivered to the Administrative Agent, the Servicer and the Seller. All costs and expenses of the Administrative Agent incurred in connection with any assignment hereunder shall be borne by the applicable assignor. No Alternate Purchaser shall
assign any portion of its Commitment hereunder without also simultaneously assigning an equal portion of its interest in the Program Support Agreement to which it is a party or under which it has acquired a participation. 
  
 (c) By executing and delivering an Assignment and Assumption Agreement, the
assignor and assignee thereunder confirm to and agree with each other and the other parties hereto as follows: (i) other than as provided in such Assignment and Assumption Agreement, the assignor makes no representation or warranty and assumes no
responsibility with respect to any statements, warranties or representations made in or in connection with this Agreement, the other Transaction Documents or any other instrument or document furnished pursuant hereto or thereto or the execution,
legality, validity, enforceability, genuineness, sufficiency or value or this Agreement, the other Transaction Documents or any such other instrument or document; (ii) the assignor makes no representation or warranty and assumes no responsibility
with respect to the financial condition of any Raytheon Entity or the performance or observance by any Raytheon Entity of any of their respective obligations under this Agreement, the other Transaction Documents or any other instrument or document
furnished by any Raytheon Entity pursuant hereto; (iii) such assignee confirms that it has received a copy of this Agreement, each other Transaction Document and such other instruments, documents and information as it has deemed appropriate to make
its own credit analysis and decision to enter into such Assignment and Assumption Agreement and to purchase such interest; (iv) such assignee will, independently and without reliance upon the Administrative Agent, or any of its Affiliates, or the
assignor and based on such agreements, documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement and the other Transaction Documents; (v) such
assignee appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under this 
  

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 Agreement, the other Transaction Documents and any other instrument or document furnished pursuant hereto or thereto as
are delegated to the Administrative Agent by the terms hereof or thereof, together with such powers as are reasonably incidental thereto and to enforce its respective rights and interests in and under this Agreement, the other Transaction Documents
and the Affected Assets; (vi) such assignee agrees that it will perform in accordance with their terms all of the obligations which by the terms of this Agreement and the other Transaction Documents are required to be performed by it as the assignee
of the assignor; and (vii) such assignee agrees that it will not institute against, or join any other Person in instituting against, or solicit or encourage any Person to institute against, the Conduit Purchaser or the Seller any proceeding of the
type referred to in Section 11.11 prior to the later of (a) date which is one year and one day after the payment in full of all Commercial Paper or other rated indebtedness of the Conduit Purchaser (or its related commercial paper issuer) and
(b) the Final Payout Date. 
  
 (d) Without limiting the foregoing,
the Conduit Purchaser may, from time to time, with prior or concurrent notice to the Seller and Servicer, in one transaction or a series of transactions, assign all or a portion of the Net Investment and its rights and obligations under this
Agreement and any other Transaction Documents to which it is a party to a Conduit Assignee. Upon and to the extent of such assignment by the Conduit Purchaser to a Conduit Assignee, (i) such Conduit Assignee shall be the owner of the assigned
portion of the Net Investment, (ii) the related administrator for such Conduit Assignee will act as the Administrator for such Conduit Assignee, with all corresponding rights and powers, express or implied, granted to the Administrator hereunder or
under the other Transaction Documents, (iii) such Conduit Assignee (and any related commercial paper issuer, if such Conduit Assignee does not itself issue commercial paper) and their respective liquidity support provider(s) and credit support
provider(s) and other related parties shall have the benefit of all the rights and protections provided to the Conduit Purchaser and its Program Support Provider(s) herein and in the other Transaction Documents (including any limitation on recourse
against such Conduit Assignee or related parties, any agreement not to file or join in the filing of a petition to commence an insolvency proceeding against such Conduit Assignee, and the right to assign to another Conduit Assignee as provided in
this paragraph), (iv) such Conduit Assignee shall assume all (or the assigned or assumed portion) of the Conduit Purchaser’s obligations, if any, hereunder or any other Transaction Document, and the Conduit Purchaser shall be released from such
obligations, in each case to the extent of such assignment, and the obligations of the Conduit Purchaser and such Conduit Assignee shall be several and not joint, (v) all distributions in respect of the Net Investment shall be made to the applicable
agent or the Administrator, as applicable, on behalf of the Conduit Purchaser and such Conduit Assignee on a pro rata basis according to their respective interests, (vi) the definition of the term “CP Rate” with respect to the
portion of the Net Investment funded with commercial paper issued by the Conduit Purchaser from time to time shall be determined in the manner set forth in the definition of “CP Rate” applicable to the Conduit Purchaser on the basis of the
interest rate or discount applicable to commercial paper issued by such Conduit Assignee (or the related commercial paper issuer, if such Conduit Assignee does not itself issue commercial paper) (rather than the Conduit Purchaser), (vii) the defined
terms and other terms and provisions of this Agreement and the other Transaction Documents shall be interpreted in accordance with the foregoing, and (viii) if requested by the Administrative Agent or Administrator with respect to the Conduit
Assignee, the parties will execute and deliver such further agreements and documents and take such other actions as the Administrative Agent or such Administrator may reasonably request to evidence and give effect 
  

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 to the foregoing. No assignment by the Conduit Purchaser to a Conduit Assignee of all or any portion of the Net
Investment shall in any way diminish the related Alternate Purchasers’ obligation under Section 2.3 to fund any Investment not funded by the Conduit Purchaser or such Conduit Assignee or to acquire from the Conduit Purchaser or such
Conduit Assignee all or any portion of the Net Investment pursuant to Section 3.1. 
  
 (e) In the event that the Conduit Purchaser makes an assignment to a Conduit Assignee in accordance with Section 11.8(d) above, the Alternate Purchasers: (i) if requested by Bank of America, shall terminate
their participation in the applicable Program Support Agreement to the extent of such assignment, (ii) if requested by Bank of America, shall execute (either directly or through a participation agreement, as determined by the Administrator) the
Program Support Agreement related to such Conduit Assignee, to the extent of such assignment, the terms of which shall be substantially similar to those of the participation or other agreement entered into by such Alternate Purchaser with respect to
the applicable Program Support Agreement (or which shall be otherwise reasonably satisfactory to Bank of America and the Alternate Purchasers), (iii) if requested by the Conduit Purchaser, shall enter into such agreements as requested by the Conduit
Purchaser pursuant to which they shall be obligated to provide funding to the Conduit Assignee on substantially the same terms and conditions as is provided for in this Agreement in respect of the Conduit Purchaser (or which agreements shall be
otherwise reasonably satisfactory to the Conduit Purchaser and the Alternate Purchasers), and (iv) shall take such actions as the Administrative Agent shall reasonably request in connection therewith. 
  
 (f) Each of the Originator, the Transferor, the Seller, the Servicer and the
Insurer hereby agrees and consents to the assignment by the Conduit Purchaser from time to time of all or any part of its rights under, interest in and title to this Agreement and the Asset Interest to any Program Support Provider. 
  
 (g) Notwithstanding anything to the contrary in this Section 11.8, (i)
no Purchaser may assign all or any portion of the Net Investment unless it has demonstrated to the reasonable satisfaction of the Administrative Agent that such assignment will not cause the aggregate number of Purchasers and other holders of
beneficial interests in the Net Investment (including any Persons holding participations in the Asset Interest) to exceed fifty (50) (determined in accordance with the Investment Company Act of 1940, as amended); and (ii) the Transferor shall not be
allowed to sell interests in the subordinated cash flow as described in Section 11.8(a) unless it has demonstrated to the reasonable satisfaction of the Administrative Agent and the Insurer that the beneficial owners of such interests,
together with all other beneficial owners of outstanding securities of the Seller (other than the persons referred to in clause (i) above) would not exceed fifty (50) (determined in accordance with the Investment Company Act of 1940, as
amended). For purposes of the foregoing, beneficial ownership by a company shall be deemed to be ownership by one person except that, if such company owns more than ten percent (10%) of the outstanding voting securities of the Seller and is, or but
for Section 3(c)(1) or 3(c)(7) of the Investment Company Act of 1940, would be an “investment company” as defined in such act, the beneficial ownership shall be deemed to be that of the holders of such company’s outstanding securities
(other than short-term paper). 
  

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 SECTION 11.9 Waiver of Confidentiality. Subject to the following sentence and Section
11.14, the Administrative Agent, each Purchaser, the Administrator and the Insurer agree to keep any non-public information related to the transactions contemplated by this Agreement and the Transaction Documents, received by it directly from
any Raytheon Entity, strictly confidential. Each of the Originator, the Transferor, the Seller and the Servicer hereby consents to the disclosure of any information with respect to it received by the Administrative Agent, any Purchaser, the
Administrator or the Insurer (a) to any other Purchaser or potential Purchaser, the Administrative Agent, the Insurer, any nationally recognized statistical rating organization rating Commercial Paper, any dealer or placement agent of or depositary
for Commercial Paper, the Administrator, any Program Support Provider or any of such Person’s counsel or accountants in relation to this Agreement or any other Transaction Document, (b) in connection with any litigation relating to any
Transaction Document, and (c) as may be required by applicable Law or order of a court of competent jurisdiction. 
  
 SECTION 11.10 Confidentiality Agreement. Each of the Originator, the Transferor, the Seller and the Servicer hereby agrees that during the term of
this Agreement and for two (2) years after the termination of this Agreement, it will not disclose the contents of this Agreement (other than in accordance with the filing requirements of the Securities and Exchange Commission, if any) or any other
Transaction Document or any other proprietary or confidential information of or with respect to any Purchaser, the Administrative Agent, the Insurer, the Administrator or any Program Support Provider to any other Person except (a) its auditors,
attorneys, employees or financial advisors (other than any commercial bank) and any nationally recognized statistical rating organization, provided such auditors, attorneys, employees, financial advisors or nationally recognized statistical rating
organizations are informed of the highly confidential nature of such information, (b) as otherwise required by applicable law or order of a court of competent jurisdiction, (c) in connection with any litigation relating to any Transaction Document,
or (d) pursuant to Section 11.14 or (e) an Obligor or its advisors, as required in connection with obtaining any consent required pursuant to the related Contract. 
  
 SECTION 11.11 No Bankruptcy Petition Against the Conduit Purchaser. Each of the Originator, the Transferor, the
Seller, the Servicer and the Performance Guarantor hereby covenants and agrees (and the Insurer, by its execution of this Agreement, expressly acknowledges) that, prior to the date which is one year and one day after the payment in full of all
outstanding Commercial Paper or other rated indebtedness of the Conduit Purchaser (or its related commercial paper issuer), it will not institute against, or join any other Person in instituting against, or solicit or encourage any Person to
institute against, the Conduit Purchaser any proceeding of a type referred to in the definition of Event of Bankruptcy. 
  
 SECTION 11.12 No Bankruptcy Petition Against the Transferor and the Seller. (a) Each of the Originator, the Transferor, the Seller, the Servicer
and the Performance Guarantor (and, so long as no Insurer Default has occurred and is continuing, each of the Administrative Agent and each Purchaser) hereby covenants and agrees (and the Insurer, by its execution of this Agreement, expressly
acknowledges) that, prior to the date which is one year and one day after the payment in full of all Aggregate Unpaids, it will not institute against or join any other Person in instituting against, or solicit or encourage any Person to institute
against, the Transferor any proceeding of a type referred to in the definition of Event of Bankruptcy. 
  

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 (b) Each of the Originator, the Transferor, the Seller, the Servicer and the Performance Guarantor (and,
so long as no Insurer Default has occurred and is continuing, each of the Administrative Agent and each Purchaser) hereby covenants and agrees (and the Insurer, by its execution of this Agreement, expressly acknowledges) that, prior to the date
which is one year and one day after the payment in full of all outstanding Aggregate Unpaids, it will not institute against, or join any other Person in instituting against, or solicit or encourage any Person to institute against, the Seller any
proceeding of a type referred to in the definition of Event of Bankruptcy. 
  
 SECTION 11.13 No Recourse Against Conduit Purchaser, Stockholders, Officers or Directors. Notwithstanding anything to the contrary contained in this Agreement or any other Transaction Document, the obligations
of the Conduit Purchaser under this Agreement and all other Transaction Documents are solely the corporate obligations of the Conduit Purchaser and shall be payable solely to the extent of funds received from the Seller in accordance herewith or
from any party to any Transaction Document in accordance with the terms thereof in excess of funds necessary to pay matured and maturing Commercial Paper. No recourse under any obligation, covenant or agreement of the Conduit Purchaser contained in
this Agreement shall be had against AMACAR Group, L.L.C. (the “Corporate Services Provider”) (or any Affiliate thereof), or any stockholder, employee, officer, director or incorporator of the Conduit Purchaser or beneficial owner of
any of them, as such, by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that this Agreement is solely a corporate obligation of the Conduit
Purchaser, and that no personal liability whatsoever shall attach to or be incurred by the Corporate Services Provider (or any Affiliate thereof), or the stockholder, employee, officer, director or incorporator of the Conduit Purchaser or beneficial
owner of any of them, as such, or any of them, under or by reason of any of the obligations, covenants or agreements of the Conduit Purchaser contained in this Agreement, or implied therefrom, and that any and all personal liability for breaches by
the Conduit Purchaser of any of such obligations, covenants or agreements, either at common law or at equity, or by statute or constitution, of the Corporate Services Provider (or any Affiliate thereof) and every such stockholder, employee, officer,
director or incorporator of the Conduit Purchaser or beneficial owner of any of them is hereby expressly waived as a condition of and consideration for the execution of this Agreement; provided, however, that the Conduit Purchaser
shall be considered to be an Affiliate of the Corporate Services Provider; and provided, further, that this Section 11.13 shall not relieve any such stockholder, employee, officer, director or incorporator of the Conduit
Purchaser or beneficial owner of any of them of any liability it might otherwise have for its own intentional misrepresentation or willful misconduct. 
  
 SECTION 11.14 Tax Treatment. Notwithstanding anything herein to the contrary, each party (and each employee, representative or other agent of each
party) hereto may disclose to any and all persons, without limitation of any kind, any information with respect to the “tax treatment” and “tax structure” (in each case, within the meaning of Treasury Regulation Section 1.6011-4)
of the transactions contemplated hereby and all materials of any kind (including opinions or other tax analyses) that are provided to any such party (or its representatives) relating to such tax treatment and tax structure; provided that with
respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of the transactions contemplated hereby as well as other information, this sentence shall only apply to such portions of
the document or similar item that relate to the tax treatment or tax structure of the transactions contemplated hereby. 
  

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 SECTION 11.15 Independent Nature of Purchasers’ Rights; Miscellaneous. The obligations of the
Purchasers under this Agreement and the other Transaction Documents are several and no Purchaser shall be responsible for the obligations or Commitments of any other Purchaser. Nothing contained in this Agreement or in any other Transaction
Document, and no action taken by any Purchaser, the Administrative Agent, the Administrator or the Insurer, pursuant to this Agreement or any other Transaction Document, shall be deemed to constitute any such Person as a partnership, an association,
a joint venture or any other kind of entity. The amounts payable at any time hereunder to the Administrative Agent, each Purchaser, the Administrator and the Insurer shall be a separate and independent debt. 
  
 SECTION 11.16 Limitation of Liability. No claim may be made by any
Raytheon Entity or any other Person against any of the Administrative Agent, any Purchaser or the Insurer or their respective Affiliates, directors, officers, employees, attorneys or agents for any special, indirect, consequential, exemplary or
punitive damages or losses in respect of any claim for breach of contract or any other theory of liability arising out of or related to the transactions contemplated by this Agreement or any other Transaction Document, or any act, omission or event
occurring in connection herewith or therewith; and each Raytheon Entity and the Servicer hereby waives, releases, and agrees not to sue upon any claim for any such damages or losses, whether or not accrued and whether or not known or suspected to
exist in its favor. 
  
 SECTION 11.17 Third Party
Beneficiary. Each of the parties hereby acknowledges and agrees that the Insurer (and its successors and assigns) is an express third party beneficiary of this Agreement and shall be entitled to rely on and directly enforce each of the
representations, warranties, covenants and agreements contained herein as if it were party hereto as the Insurer. 
  
 SECTION 11.18 Certain Understandings Regarding the Originator and the Transferor. Each of the parties hereto acknowledges and agrees that (a)
pursuant to the First Tier Agreement, the Originator incurred certain obligations and liabilities in favor of the Transferor (collectively, the “Originator Obligations”) which were assigned by the Transferor to the Seller pursuant
to the Sale and Conveyance Agreement and were assigned by the Seller to the Administrative Agent for the benefit of the Secured Parties pursuant to this Agreement, (b) pursuant to the Sale and Conveyance Agreement, the Transferor incurred certain
obligations and liabilities in favor of the Seller (collectively, the “Transferor Obligations”) which were assigned by the Seller to the Administrative Agent for the benefit of the Secured Parties pursuant to this Agreement and (c)
without derogating or otherwise modifying the express obligations of the Originator and the Transferor contained in this Agreement and the other Transaction Documents, the inclusion of the Originator and the Transferor as parties to this Agreement
is intended as an administrative convenience in order to (i) recognize the Secured Parties as the assignees of the Originator Obligations and Transferor Obligations, respectively, and (ii) restate such Originator Obligations and Transferor
Obligations as provided for herein for the purpose of confirming and ratifying such obligations, without the intent to expand such Originator Obligations and/or Transferor Obligations, as applicable. 
  

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 SECTION 11.19 Representation of the Conduit Purchaser. The Conduit Purchaser hereby represents and
warrants that, on the Closing Date: (i) it is the sole Purchaser funding the Investment and (ii) it would be deemed to constitute not more than one (1) beneficial owner of the Seller’s securities for purposes of Section 3(c)(1) of the
Investment Company Act of 1940, as amended. 
  
 [Signatures Follow]

  

 -101- 

 IN WITNESS WHEREOF, the parties hereto have
executed and delivered this Agreement as of the date first written above. 
  

			
	GENERAL AVIATION RECEIVABLES
CORPORATION, as Seller
		
	 By:
	 	 /s/ Andrew A. Matthews

	 Title:
	 	 President

	
	RAYTHEON AIRCRAFT RECEIVABLES
CORPORATION, individually and as
Transferor
		
	 By:
	 	 /s/ Andrews A. Matthews

	 Title:
	 	 President

	
	RAYTHEON AIRCRAFT CREDIT
CORPORATION, individually, as Originator
and as Servicer
		
	 By:
	 	 /s/ Andrew A. Mathews

	 Title:
	 	 President

  

 S-1 

			
	RECEIVABLES CAPITAL CORPORATION,
as Conduit Purchaser
		
	 By:
	 	 /s/ Evelyn Echevarria

	 Title:
	 	 Vice President

  

 S-2 

					
	 Commitment
	 	BANK OF AMERICA, N.A., as
Administrative Agent, as Administrator and as
an Alternate Purchaser
			
	 $286,040,103.53
	 	 By:
	 	 /s/ Erle R.L. Archer

	 	 	 Title:
	 	 Principal

  

 S-3 

			
	 ACKNOWLEDGED AND AGREED:
  
 MBIA INSURANCE CORPORATION

		
	 By:
	 	 /s/ Adam M. Garta

	 Title:
	 	 Assistant Secretary

  

 S-4 

			
	 ACKNOWLEDGED AND AGREED:
  
 RAYTHEON COMPANY, as Performance
Guarantor

		
	 By:
	 	 /s/ Richard A. Goglia

	 Title:
	 	 Vice President & Treasurer

  
  

 S-5 

 SCHEDULE I 
  

Section 2.4 of this Agreement shall be read in its entirety as follows: 
  
 SECTION 2.4 Determination of Yield and Rate Periods. (a) From time to time, for purposes of determining the Rate
Periods applicable to the different portions of the Net Investment and of calculating Yield with respect thereto, the Administrative Agent shall allocate the Net Investment to one or more tranches (each a “Portion of Investment”).
At any time, each Portion of Investment shall have only one Rate Period and one Rate Type. In addition, at any time when the Net Investment is not divided into more than one portion, “Portion of Investment” means 100% of the Net
Investment. 
  
 (b) From time to time the Administrative Agent
shall notify the Servicer and the Seller of the number of Portions of Investment and the Rate Type of each Portion of Investment. 
  
 (c) As used in this Section 2.4, the following terms shall have the following meanings (such meanings to be equally applicable to both the singular
and plural forms of the terms defined) 
  
 “Alternate
Rate” means, for any Rate Period for any Portion of Investment, an interest rate per annum equal to seventy-five basis points (0.75%) per annum above the Offshore Rate for such Rate Period; provided, however,
that in the case of: 
  
 (i) any Rate Period
which commences on a date other than a Settlement Date or which commences prior to the Administrative Agent receiving at least three (3) Business Days notice thereof, or 
  
 (ii) any Rate Period relating to a Portion of Investment which is less than five million dollars
($5,000,000), 
  
 the “Alternate Rate” for each day in such Rate
Period shall be an interest rate per annum equal to the Base Rate in effect on such day. The “Alternate Rate” for any date on or after the declaration of Termination Date pursuant to Section 8.2 shall be an interest
rate equal to two percent (2.00%) per annum above the Base Rate in effect on such day. 
  
 “Base Rate” means, for any day a fluctuating rate per annum equal to the higher of (a) the Federal Funds Rate for such day, plus 1/2 of one percent (1%) and (b) the rate of interest in
effect for such day as publicly announced from time to time by the Administrative Agent as its “prime rate”. The “prime rate” is a rate set by the Administrative Agent based upon various factors including the Administrative
Agent’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in the prime rate announced by the
Administrative Agent shall take effect at the opening of business on the day specified in the public announcement of such change. 
  
 “CP Rate” means, for any Rate Period for any Portion of Investment, the per annum rate equivalent to the weighted average cost (as
determined by the Administrator and which shall include commissions of placement agents and dealers, incremental carrying costs incurred with 
  

 Schedule I-1 

 respect to Commercial Paper maturing on dates other than those on which corresponding funds are received by the Conduit
Purchaser (or the related commercial paper issuer), other borrowings by the Conduit Purchaser (other than under any Program Support Agreement) and any other costs associated with the issuance of Commercial Paper) of or related to the issuance of
Commercial Paper that are allocated, in whole or in part, by the Conduit Purchaser or the Administrator to fund or maintain such Portion of Investment (and which may be also allocated in part to the funding of other assets of the Conduit Purchaser);
provided, however, that if any component of such rate is a discount rate, in calculating the “CP Rate” for such Portion of Investment for such Rate Period, the Conduit Purchaser shall for such component use the rate
resulting from converting such discount rate to an interest bearing equivalent rate per annum. 
  
 “Federal Funds Rate” means, for any day, the rate per annum (rounded upwards, if necessary, to the nearest 1/100 of one percent
(1%)) equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business
Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business
Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate charged to the Administrative Agent on such day on such transactions as determined by it. 
  
 “Fluctuation Factor” means 1.5. 
  
 “Offshore Rate” means for any Rate Period, a rate per
annum determined by the Administrative Agent pursuant to the following formula: 
  

					
	 Offshore Rate =
	 	 Offshore Base Rate

	  	 
	 	 	         1.00 - Eurodollar Reserve Percentage
	  	 

  
 Where, 
  
 “Offshore Base
Rate” means, for such Rate Period: 
  
 (a) the rate per annum (carried out to the fifth decimal place) equal to the rate determined by the Administrative Agent to be the offered rate that appears on the page of the Telerate Screen that displays an average British Bankers
Association Interest Settlement Rate (such page currently being page number 3750) for deposits in Dollars (for delivery on the first day of such Rate Period) with a term equivalent to such Rate Period, determined as of approximately 11:00 a.m.
(London time) two Business Days prior to the first day of such Rate Period, or 
  
 (b) in the event the rate referenced in the preceding Section 2.4(a) does not appear on such page or service or such page or
service shall cease to be available, the rate per annum (carried to the fifth decimal place) equal to the rate determined by the Administrative Agent to be the offered rate on such other page or other service that displays an average British
Bankers Association Interest Settlement Rate for deposits in 
  

 Schedule I-2 

 Dollars (for delivery on the first day of such Rate Period) with a term equivalent to such Rate Period,
determined as of approximately 11:00 a.m. (London time) two (2) Business Days prior to the first day of such Rate Period, or 
  
 (c) in the event the rates referenced in the preceding Sections 2.4(a) and (b) are not available, the rate per annum
determined by the Administrative Agent as the rate of interest at which Dollar deposits (for delivery on the first day of such Rate Period) in same day funds in the approximate amount of the applicable Portion of Investment to be funded by reference
to the Offshore Rate and with a term equivalent to such Rate Period would be offered by its London Branch to major banks in the offshore dollar market at their request at approximately 11:00 a.m. (London time) two (2) Business Days prior to the
first day of such Rate Period; and 
  
 “Eurodollar Reserve
Percentage” means, for any day during any Rate Period, the reserve percentage (expressed as a decimal, rounded upward to the next 1/100th of one percent (1%)) in effect on such day, whether or not applicable to any Purchaser, under
regulations issued from time to time by the Board of Governors of the Federal Reserve System for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to Eurocurrency
funding (currently referred to as “eurocurrency liabilities”). The Offshore Rate shall be adjusted automatically as of the effective date of any change in the Eurodollar Reserve Percentage. 
  
 “Rate Period” means, unless otherwise mutually agreed by the
Administrative Agent and the Servicer (on behalf of the Seller), (a) with respect to any Portion of Investment funded by the issuance of Commercial Paper, (i) initially the period commencing on (and including) the date of the initial purchase or
funding of such Portion of Investment and ending on (and including) the last day of the current Fiscal Month, and (ii) thereafter, each period commencing on (and including) the first day after the last day of the immediately preceding Rate Period
for such Portion of Investment and ending on (and including) the last day of the current Fiscal Month; and (b) with respect to any Portion of Investment not funded by the issuance of Commercial Paper, (i) initially the period commencing on (and
including) the date of the initial purchase or funding of such Portion of Investment and ending on (but excluding) the next following Settlement Date, and (ii) thereafter, each period commencing on (and including) a Settlement Date and ending on
(but excluding) the next following Settlement Date; provided, that 
  
 (A) any Rate Period with respect to any Portion of Investment (other than any Portion of Investment accruing Yield at the CP Rate) which would otherwise end on a day which is not a Business Day shall be extended to
the next succeeding Business Day; provided, however, if Yield in respect of such Rate Period is computed by reference to the Offshore Rate, and such Rate Period would otherwise end on a day which is not a Business Day, and there is no
subsequent Business Day in the same Fiscal Month as such day, such Rate Period shall end on the next preceding Business Day; 
  
 (B) in the case of any Rate Period for any Portion of Investment which commences before the Termination Date and would otherwise end on a
date occurring after the Termination Date, such Rate Period shall end on such Termination Date and the duration of each Rate Period which commences on or after the Termination Date shall be of such duration as shall be selected by the Administrative
Agent; and 
  

 Schedule I-3 

 (C) any Rate Period in respect of which Yield is computed by reference to the CP Rate may
be terminated at the election of, and upon notice thereof to the Seller by, the Administrative Agent any time, in which case the Portion of Investment allocated to such terminated Rate Period shall be allocated to a new Rate Period commencing on
(and including) the date of such termination and ending on (but excluding) the next following Settlement Date, and shall accrue Yield at the Alternate Rate. 
  
 “Rate Type” means the Offshore Rate, the Base Rate or the CP Rate. 
  
 “Yield” means: 
  
 (i) for any Portion of Investment during any Rate Period to the extent a Conduit Purchaser funds such Portion of Investment through the
issuance of Commercial Paper (directly or indirectly through a related commercial paper issuer), 
  

			
	 (CPR + PF + DF) x I x     D  

	                                       
 360

  
 (ii)
for any Portion of Investment funded by the Alternate Purchasers and for any Portion of Investment to the extent the Conduit Purchaser will not be funding such Portion of Investment through the issuance of Commercial Paper (directly or indirectly
through a related commercial paper issuer), 
  

			
	                  D  

	 AR x I x 360

  
 where: 
  

					
	 AR
	  	 =
	  	the Alternate Rate for such Portion of Investment for such Rate Period,
			
	 CPR
	  	 =
	  	the CP Rate for such Portion of Investment for such Rate Period (as determined by the Administrator on or prior to the fifth (5th) Business Day of the Fiscal Month next following such Rate
Period),
			
	 D
	  	 =
	  	the actual number of days during such Rate Period,
			
	 DF
	  	 =
	  	5.0 basis points per annum,
			
	 I
	  	 =
	  	the weighted average of such Portion of Investment during such Rate Period, and
			
	 PF
	  	 =
	  	the Program Fee Rate

  

 Schedule I-4 

 ; provided that (i) no provision of this Agreement shall require the payment or permit the collection of Yield in
excess of the maximum permitted by applicable law and (ii) that at all times after the declaration of the Termination Date pursuant to Section 8.2, Yield for all Portion of Investment shall be determined as provided in clause (ii) of
this definition; provided, however, that in the event that at any time the Yield shall exceed a per annum rate equal to the Offshore Rate plus seventy-five basis points (0.75%) per annum, such excess shall only be
payable pursuant to clause (xi) of Section 2.12 and shall not be guaranteed by the Insurance Policy. 
  
 (d) Offshore Rate Protection; Illegality. (i) If the Administrative Agent is unable to obtain on a timely basis the information necessary to
determine the Offshore Rate for any proposed Rate Period, then 
  
 (A) the Administrative Agent shall forthwith notify the Conduit Purchaser or Alternate Purchasers, as applicable, and the Servicer and the Seller that the Offshore Rate cannot be determined for such Rate Period, and

  
 (B) while such circumstances exist, none of
the Conduit Purchaser, the Alternate Purchasers or the Administrative Agent shall allocate any Portion of Investment with respect to Investments made during such period or reallocate any Portion of Investment allocated to any then existing Rate
Period ending during such period, to a Rate Period with respect to which Yield is calculated by reference to the Offshore Rate. 
  
 (ii) If, with respect to any outstanding Rate Period, the Conduit Purchaser or any of the Alternate Purchasers on behalf of which the
Administrative Agent holds any Portion of Investment notifies the Administrative Agent that it is unable to obtain matching deposits in the London interbank market to fund its purchase or maintenance of such Portion of Investment or that the
Offshore Rate applicable to such Portion of Investment will not adequately reflect the cost to the Person of funding or maintaining such Portion of Investment for such Rate Period, then (A) the Administrative Agent shall forthwith so notify the
Seller, the Servicer and the Purchasers and (B) upon such notice and thereafter while such circumstances exist none of the Administrative Agent, the Conduit Purchaser or the Alternate Purchasers, as applicable, shall allocate any other Portion of
Investment with respect to Investments made during such period or reallocate any Portion of Investment allocated to any Rate Period ending during such period, to a Rate Period with respect to which Yield is calculated by reference to the Offshore
Rate. 
  
 (iii) Notwithstanding any other
provision of this Agreement, if the Conduit Purchaser or any of the Alternate Purchasers, as applicable, shall notify the Administrative Agent that such Person has determined (or has been notified by any Program Support Provider) that the
introduction of or any change in or in the interpretation of any Law makes it unlawful (either for the Conduit Purchaser, such Alternate Purchaser, or such Program Support Provider, as applicable), or any central bank or other Official Body asserts
that it is unlawful, for the Conduit Purchaser, such Alternate Purchaser or such Program Support Provider, as applicable, to fund the 
  

 Schedule I-5 

 purchases or maintenance of any Portion of Investment accruing Yield calculated by reference to the
Offshore Rate, then (A) as of the effective date of such notice from such Person to the Administrative Agent, the obligation or ability of the Conduit Purchaser or such Alternate Purchaser or Program Support Provider, as applicable, to fund the
making or maintenance of any Portion of Investment accruing Yield calculated by reference to the Offshore Rate shall be suspended until such Person notifies the Administrative Agent that the circumstances causing such suspension no longer exist and
(B) each Portion of Investment made or maintained by such Person shall either (1) if such Person may lawfully continue to maintain such Portion of Investment accruing Yield calculated by reference to the Offshore Rate until the last day of the
applicable Rate Period, be reallocated on the last day of such Rate Period to another Rate Period and shall accrue Yield calculated by reference to the Base Rate; or (2) if such Person shall determine that it may not lawfully continue to maintain
such Portion of Investment accruing Yield calculated by reference to the Offshore Rate until the end of the applicable Rate Period, such Person’s share of such Portion of Investment allocated to such Rate Period shall be deemed to accrue Yield
at the Base Rate from the effective date of such notice until the end of such Rate Period. 
  
  

 Schedule I-6 

 SCHEDULE II 
  
 Obligors, Subleases and Cash Deposits, Brazilian Operating Leases, Repossession 
 Insurance, Subleases, Letters of Credit, Exempt Receivables and Extended Receivables 
  
 [To be agreed upon by the Administrative Agent, MBIA and the Performance Guarantor, 
 and provided by the Servicer] 
  

 Schedule II-1 

 SCHEDULE III 
  
 Performance Guarantor Financial Covenants 
  
 I. ADDITIONAL SERVICER DEFAULTS. So long as the Servicer is RACC or an Affiliate thereof, except as such provisions may be
otherwise deemed amended or waived as set forth in Part III of this Schedule III, it shall be a Servicer Default if either of the following events occurs: 
  
 (a) Debt to Capitalization. The Performance Guarantor shall permit Total Debt to exceed (i) 55% of Total Capitalization at any time from and after
the Closing Date to, but excluding, June 28, 2004 and (ii) 50% of Total Capitalization at any time from June 28, 2004 and thereafter; or 
  
 (b) Consolidated Interest Coverage Ratio. The Performance Guarantor shall permit the Consolidated Interest Coverage Ratio for any period of four
consecutive fiscal quarters of the Performance Guarantor ending with any fiscal quarter (i) after the Closing Date until, but excluding, June 28, 2004 to be less than 2.5 to 1.0 and (ii) commencing June 28, 2004 and thereafter to be less than 3.0 to
1.0. 
  
 II. DEFINED TERMS. 
  
 Capitalized terms in this Schedule III which are not otherwise defined in
this Agreement shall have the following definitions: 
  
 “Consolidated EBITDA” shall mean, for any period, the sum of (a) Consolidated Net Income for such period and (b) the aggregate amounts deducted in determining Consolidated Net Income in respect of (i) Consolidated Net
Interest Expense for such period, (ii) income taxes, depreciation and amortization of the Performance Guarantor and its consolidated Subsidiaries for such period determined in accordance with GAAP and (iii) write-offs of goodwill as required, or as
would be required in the next succeeding fiscal year of the Performance Guarantor, by Statement of Financial Accounting Standards No. 142, Goodwill and other Intangible Assets. 
  
 “Consolidated Interest Coverage Ratio” shall mean for any period, the ratio of (a) Consolidated EBITDA for
such period to (b) Consolidated Net Interest Expense for such period. 
  
 “Consolidated Net Income” shall mean for any period, the consolidated net income (or deficit) of the Performance Guarantor and its consolidated Subsidiaries for such period, determined in accordance with GAAP;
provided that (i) for the fiscal quarter of the Performance Guarantor and its consolidated Subsidiaries ending April 1, 2001, such Consolidated Net Income shall be increased by $325,000,000 representing one-time charges recorded in connection
with the discontinued operations of Raytheon Engineers and Constructors, (ii) for the fiscal quarter of the Performance Guarantor and its consolidated Subsidiaries ending July 1, 2001, such Consolidated Net Income shall be increased by an aggregate
amount not to exceed $272,000,000 for such fiscal quarter, representing additional one-time charges to the extent recorded in connection with the discontinued operations of Raytheon Engineers and Constructors during such fiscal quarter, (iii) for
the fiscal quarter of the Performance Guarantor and its consolidated Subsidiaries ending September 30, 2001, such Consolidated Net Income shall be increased by an 
  

 Schedule III-1 

 aggregate amount not to exceed $750,000,000 representing one-time charges recorded in connection with the inventory
write-down and valuation reserve related to various aircraft, (iv) for the fiscal quarter of the Performance Guarantor and its consolidated Subsidiaries ending June 30, 2002, such Consolidated Net Income shall be increased by an aggregate amount not
to exceed $450,000,000 for such quarter, representing one-time charges to the extent recorded in connection with the discontinued operations of Raytheon Engineers and Constructors with respect to such fiscal quarter and (v) for the fiscal quarter of
the Performance Guarantor and its consolidated Subsidiaries ending June 29, 2003, such Consolidated Net Income shall be increased by an amount not to exceed $100,000,000 for such fiscal quarter, representing one-time charges to the extent recorded
in connection with the discontinued operations or Raytheon Engineers and Constructors with respect to such fiscal quarter. 
  
 “Consolidated Net Interest Expense” shall mean, for any period, net interest expense of the Performance Guarantor and its consolidated
Subsidiaries for such period, determined in accordance with GAAP. 
  
 “Mandatorily Redeemable Equity Securities” shall mean the 17,500,000 equity security units, including any remarketed securities, issued by the Performance Guarantor in May 2001. Each equity security unit consists of a
contract to purchase shares of the Performance Guarantor’s common stock on May 15, 2004, and a mandatorily redeemable equity security, with a stated liquidation amount of $50.00 due on May 15, 2004. The mandatorily redeemable equity security
represents an undivided interest in the assets of RC Trust I, a Delaware business trust, formed for the purpose of issuing these securities and whose assets consist solely of subordinated notes issued by the Performance Guarantor. 
  
 “Stockholders Equity” shall mean, as at any date of
determination, the stockholders’ equity of the Performance Guarantor and its consolidated Subsidiaries as of such date, as determined in accordance with GAAP. 
  
 “Total Capitalization” shall mean, as at any date of determination, the sum of Total Debt at such date, the
dollar amount of Mandatorily Redeemable Equity Securities outstanding on such date as determined in accordance with GAAP, and Stockholders’ Equity at such date. 
  
 “Total Debt” shall mean, at a particular date, all amounts which would be included as indebtedness
(including capitalized leases) on a consolidated balance sheet of the Performance Guarantor and its consolidated Subsidiaries, determined in accordance with GAAP. 
  
 III. AMENDMENTS AND WAIVERS 
  
 It is understood and agreed that the above-described financial covenants of the Performance Guarantor as of the date hereof are equivalent to the
financial covenants and agreements of the Performance Guarantor set forth in Section 7.05 of the Raytheon Revolver. In the event that the Performance Guarantor requests from the banks party to the Raytheon Revolver an amendment or waiver of any such
financial covenant or agreement set forth in such Section 7.05, then (i) the Servicer shall provide a written request for such amendment or waiver to each of the Administrative Agent and the Insurer at the same time that the request for such
amendment or waiver under the Raytheon Revolver is requested, (ii) each of the Administrative 
  

 Schedule III-2 

 Agent and the Insurer will have the same amount of time (but, in no event, less than a period of five (5) Business Days)
to consider and give its approval or disapproval of such amendment or waiver as is given to the parties under the Raytheon Revolver to grant the approval or disapproval and (iii) if the Administrative Agent or the Insurer does not respond in the
time period specified in clause (ii), then the Administrative Agent or the Insurer, as applicable, shall be deemed to have given the same response as the required parties under the Raytheon Revolver. If both the Administrative Agent and the
Insurer agree in writing (or are deemed to have so agreed pursuant to the immediately preceding clause (iii)), with the response of the required parties under the Raytheon Revolver, the provisions of this Schedule III shall be deemed
automatically amended to conform to the revised covenants set forth in Section 7.05 of the Raytheon Revolver, and the Servicer will promptly distribute a revised version of this Schedule III (reflecting such revised covenants) to each of the
Administrative Agent and the Insurer. 
  

 Schedule III-3 

 SCHEDULE IV 
  
 Schedule of Receivables 
  
 [To be agreed upon by the Administrative Agent, MBIA and the Performance Guarantor, 
 and provided by the Servicer] 
  

 Schedule IV-1 

 SCHEDULE V 
  

List of Sub-Servicers 
  
 None 
  

 Schedule V 

 SCHEDULE 4.1(g) 
  
 List of Actions and Suits 
  
 Those matters described in the Performance Guarantor’s Quarterly Report on Form 10-Q for the quarter ended June 29, 2003. 
  

 4.1(g)-1 

 SCHEDULE 4.1(i) 
  
 Location of Certain Offices and Records of the 
 Transferor, the Seller and the Servicer 
  
 Principal Place of Business: 
  

			
	 The Transferor:
	 	 101 South Webb Road, Suite 300A, Wichita, Kansas 67207

		
	 The Seller:
	 	 101 South Webb Road, Suite 300B, P.O. Box 2985, Wichita, Kansas 67207

		
	 The Servicer:
	 	 101 South Webb Road, Suite 300, Wichita, Kansas 67207

		
	 Chief Executive Office:
	 	 
		
	 The Transferor:
	 	 101 South Webb Road, Suite 300A, Wichita, Kansas 67207

		
	 The Seller:
	 	 101 South Webb Road, Suite 300B, P.O. Box 2985, Wichita, Kansas 67207

		
	 The Servicer:
	 	 101 South Webb Road, Suite 300, Wichita, Kansas 67207

		
	 Location of Records:
	 	 
		
	 The Transferor:
	 	 101 South Webb Road, Suite 300A, Wichita, Kansas 67207

		
	 The Seller:
	 	 101 South Webb Road, Suite 300B, P.O. Box 2985, Wichita, Kansas 67207

		
	 The Servicer:
	 	 101 South Webb Road, Suite 300, Wichita, Kansas 67207

  

 4.1(i)-1 

 SCHEDULE 4.1(j) 
  
 List of Subsidiaries, Divisions and Tradenames of the Transferor, the Seller 
 and the Servicer; FEINs 
  

					
	 Subsidiaries:
	 	RARC:	    	 GARC

	 	 	GARC:	    	 None

			
	 Divisions:
	 	RARC:	    	 None

	 	 	GARC:	    	 None

	 	 	RACC:	    	 None

			
	 Tradenames:
	 	RARC:	    	 None

	 	 	GARC:	    	 None

	 	 	RACC:	    	 None

			
	 Federal Employer
	 	 	    	 
	 Identification Number:
	 	RARC:	    	 74-2819665

	 	 	GARC:	    	 20-0181291

	 	 	RACC:	    	 48-0619846

  
  

 4.1(j)-1 

 SCHEDULE 4.1(r) 
  
 List of Blocked Account Banks and Blocked Accounts 
  

			
	 Name of Blocked Account Bank

	 	 Blocked Account

	 JPMorgan Chase (Collection Account
 Bank)
 2 Chase Manhattan Plaza, 22nd Floor
 New York, New York 10005
 Attention: Frances Ruke
 Telephone: (212) 552-7040
	 	 323368867
 (Collection Account)

  
  

 4.1(r)-1 

 SCHEDULE 11.3 
  
 Address and Payment Information 
  
 If to the Conduit Purchaser: 
  

			
	 Receivables Capital Corporation

	 c/o AMACAR Group, L.L.C.
 6525 Morrison Boulevard, Suite 318
 Charlotte, North Carolina 28211

	 Attention:
	  	 Doris Hearn

	 Telephone:
	  	 704/365-0569

	 Facsimile:
	  	 704/365-1362

  

	
	 Payment Information:

	
	 Deutsche Bank, New York, NY

	 ABA No.: 021 001 033

	 BNF: BTCO as Depository for Bank of America

	 Account No.: 00 384 710

	 Ref: Raytheon Aircraft - RCC

	 Attention: Jessica Richmond

	
	 (with a copy to the Administrator)

  
 If to
the Seller: 
  

			
	 GENERAL AVIATION RECEIVABLES CORPORATION
 101 South Webb Road, Suite 300B
 P.O. Box 2985
 Wichita, Kansas 67207

	 Attention:
	  	 General Counsel

	 Telephone:
	  	 316/676-0438

	 Facsimile:
	  	 316/676-4636

	
	 Payment Information:
  
 JPMorgan Chase Bank
 ABA No.: 021 000 021
 SWIFT Code: CHAS8S33
 Account No.: 910-40032-763
 Ref: Raytheon Company
  
 (with a copy to the Administrator)

  

 11.3-1 

 If to the Transferor (to be provided in a separate notice): 
  

			
	 RAYTHEON AIRCRAFT RECEIVABLES CORPORATION
 101 South Webb Road, Suite 300A

	 Wichita, Kansas 67207

	 Attention:
	  	 General Counsel

	 Telephone:
	  	 316/676-6524

	 Facsimile:
	  	 316/676-4636

  
 If to
the Servicer: 
  

			
	 RAYTHEON AIRCRAFT CREDIT CORPORATION
 101 South Webb Road, Suite 300
 Wichita, Kansas 67207

	 Attention:
	  	 General Counsel

	 Telephone:
	  	 316/676-7673

	 Facsimile:
	  	 316/676-4636

  
 If to
the Administrative Agent: 
  

			
	 Bank of America, N.A.,
 as Administrative Agent
 231 South LaSalle Street, 16th Floor
 Chicago, Illinois 60697

	 Attention:
	  	 Banc of America Securities LLC

	 	  	 Global Structured Finance

	 	  	 Conduit Investment Management

	 Telephone:
	  	 312/828-3119

	 Facsimile:
	  	 312/453-3410

  
 If to
the Administrator: 
  

			
	 Bank of America, N.A.,
 as Administrator
 Hearst Tower
 19th Floor
 Charlotte, North Carolina 28255

	 Attention:
	  	 Banc of America Securities LLC

	 	  	 Global Structured Finance

	 	  	 Conduit Investment Management

	 Telephone:
	  	 704/386-8361

	 Facsimile:
	  	 704/387-2828

	 Attention:
	  	 Camille Zerbinos

  

 11.3-2 

 Payment Information: 
  
 If to the Administrative Agent for the Cash Reserve Account: 
  

			
	 Bank of America, N.A.
 Charlotte, North Carolina
 ABA: 053 000 196
 BNF: Bank of America as Agent for Receivables Capital
Corporation
 Raytheon Air Cash Reserve Account
 Account No.: 0006 8765 2978
 Ref: Raytheon Air Cash Reserve Funds

	 Attention:
	  	 Shawn Glanzer

	 Telephone:
	  	 704/388-2650

	 Facsimile:
	  	 704/387-2828

  
 If
otherwise to the Administrative Agent: 
  

			
	 Deutsche Bank
 ABA 021-001-033
 BTCO as depository for Bank of America, as Administrator

	 Account No:
	  	 00-384-710

	 Ref: Bank of America, as Administrator

	 Attention:
	  	 Jessica Richmond

  
 If to
the Insurer: 
  

			
	 MBIA Insurance Corporation
 113 King Street
 Armonk, New York 10504

	 Attention:
	  	 IPM/STF-Corporate

	   (with reference to Policy # 42457)

	 Telephone:
	  	 914/273-4545

	 Facsimile:
	  	 914/765-3810

  
 Payment Information: 
  

	
	 JPMorgan Chase Bank

	 New York, New York

	 ABA #021000021

	 for credit to MBIA Insurance Corporation

	 Premium Account #910-2-721-728

	 Re: Raytheon Securitization Policy No. 42457

  
  

 11.3-3 

 Exhibit A 
  

Form of Assignment and Assumption Agreement 
  
 Reference is made to the Fifth Amended and Restated Purchase and Sale Agreement dated as of September 1, 2003 (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Agreement”) by and among GENERAL AVIATION RECEIVABLES CORPORATION, a Delaware corporation, as seller (in such capacity, the “Seller”), RAYTHEON AIRCRAFT
RECEIVABLES CORPORATION, a Kansas corporation (“RARC”), as Transferor (in such capacity, the “Transferor”), RAYTHEON AIRCRAFT CREDIT CORPORATION, a Kansas corporation (“RACC”), as servicer (in such
capacity, the “Servicer”), RECEIVABLES CAPITAL CORPORATION, a Delaware corporation (together with the other Purchasers from time to time party thereto, the “Purchasers”), and BANK OF AMERICA, N.A., a national
banking association, as Administrative Agent (the “Administrative Agent”). Terms defined in the Agreement are used herein with the same meaning. 
  
 [                                    ] (the
“Assignor”) and
[                                        
    ] (the “Assignee”) agree as follows: 
  
 1. The Assignor hereby sells and assigns to the Assignee, without recourse and without representation or warranty, and the Assignee hereby purchases and assumes from the Assignor, an interest in and to all of the
Assignor’s rights and obligations under the Agreement and the other Transaction Documents. Such interest expressed as a percentage of all rights and obligations of the Alternate Purchasers, shall be equal to the percentage equivalent of a
fraction, the numerator of which is $[            ] and the denominator of which is the Facility Limit. After giving effect to such sale and assignment, the Assignee’s
Commitment will be as set forth on the signature page hereto. 
  
 2. [In consideration of the payment of $[                        ], being
[                    ]% of the existing Net Investment, and of
$[                    ], being
[                    ]% of the aggregate unpaid accrued Yield, receipt of which payment is hereby acknowledged, the Assignor hereby assigns to
the Administrative Agent for the account of the Assignee, and the Assignee hereby purchases from the Assignor, a [                    ]%
interest in and to all of the Assignor’s right, title and interest in and to the Net Investment.] 
  
 3. The Assignor (i) represents and warrants that it is the legal and beneficial owner of the interest being assigned by it hereunder and that such
interest is free and clear of any Adverse Claim; (ii) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Agreement, any other Transaction
Document or any other instrument or document furnished pursuant thereto or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Agreement or the Receivables, any other Transaction Document or any other
instrument or document furnished pursuant thereto; and (iii) makes no representation or warranty and assumes no responsibility with respect to the financial condition of any Raytheon Entity or the performance or observance by any Raytheon Entity of
any of its obligations under the Agreement, any other Transaction Document, or any instrument or document furnished pursuant thereto. 
  

 Exhibit A-1 

 4. The Assignee (i) confirms that it has received a copy of the Agreement and the First Tier Agreement
together with copies of the financial statements referred to in Section 6.1(a) of the Agreement, to the extent delivered through the date of this Assignment and Assumption Agreement (this “Assignment”), and such other documents and
information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment; (ii) agrees that it will, independently and without reliance upon the Administrative Agent, any of its Affiliates, the Assignor or
any other Alternate Purchaser and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Agreement and any other Transaction Document;
(iii) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Agreement and the other Transaction Documents as are delegated to the Administrative Agent by the
terms thereof, together with such powers and discretion as are reasonably incidental thereto; (iv) agrees that it will perform in accordance with the terms of the Agreement all of the obligations required to be performed by it as an Alternate
Purchaser thereunder; and (v) specifies as its address for notices and its account for payments the office and account set forth beneath its name on the signature pages hereof[; and (vi) attaches the forms prescribed by the Internal Revenue Service
of the United States of America certifying as to the Assignee’s status for purposes of determining exemption from United States withholding taxes with respect to all payments to be made to the Assignee under the Agreement or such other
documents as are necessary to indicate that all such payments are subject to such rates at a rate reduced by an applicable tax treaty]. 
  
 5. The effective date for this Assignment shall be the later of (i) the date on which the Administrative Agent receives this Assignment executed by the
parties hereto and receives the consent of the Administrator, on behalf of the Conduit Purchaser, and (ii) the date of this Assignment (the “Effective Date”). Following the execution of this Assignment and the consent of the
Administrator, on behalf of the Conduit Purchaser, this Assignment will be delivered to the Administrative Agent for acceptance and recording. 
  
 6. Upon such acceptance and recording, as of the Effective Date, (i) the Assignee shall be a party to the Agreement and, to the extent provided in this
Assignment, have the rights and obligations of an Alternate Purchaser thereunder, and (ii) the Assignor shall, to the extent provided in this Assignment, relinquish its rights and be released from its obligations under the Agreement. 
  
 7. Upon such acceptance and recording, from and after the Effective Date, to
the extent that the Agreement expressly requires the Administrative Agent to make payments to an Alternate Purchaser the Administrative Agent shall make all payments under the Agreement in respect of the interest assigned hereby (including, without
limitation, all payments in respect of such interest in Net Investment, Yield and fees) to the Assignee. The Assignor and Assignee shall make all appropriate adjustments in payments under the Agreement for periods prior to the Effective Date
directly between themselves. 
  

 Exhibit A-2 

 8. The Assignee shall not be required to fund hereunder an aggregate amount at any time outstanding in
excess of $[                    ], minus the aggregate outstanding amount of any interest funded by the Assignee in its capacity as a
participant under a Program Support Agreement. 
  
 9. The Assignor
agrees to pay the Assignee its pro rata share of fees in an amount equal to the product of (a) [            ] per annum and (b) the Commitment during the period after
the Effective Date for which such fees are owing and paid by the Seller pursuant to the Agreement. [Amounts paid under this section shall be credited against amounts payable to the Assignee under Section 19 of the Participation Agreement dated as of
[date] by and between Bank of America, National Association and [Alternate Purchaser] (and vice versa).] 
  
 10. THIS ASSIGNMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO THE CONFLICTS OF LAW
PRINCIPLES THEREOF OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
  
 11. This Assignment contains the final and complete integration of all prior expressions by the parties hereto with respect to the subject matter hereof and shall constitute the entire Assignment among the parties
hereto with respect to the subject matter hereof superseding all prior oral or written understandings with respect to such subject matter. 
  
 12. If any one or more of the covenants, agreements, provisions or terms of this Assignment shall for any reason whatsoever be held invalid, then such
covenants, agreements, provisions, or terms shall be deemed severable from the remaining covenants, agreements, provisions, or terms of this Assignment and shall in no way affect the validity or enforceability of the other provisions of this
Assignment. 
  
 13. This Assignment may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement. Delivery by facsimile of an
executed signature page of this Assignment shall be effective as delivery of an executed counterpart hereof. 
  
 14. This Assignment shall be binding on the parties hereto and their respective successors and assigns. 
  

 Exhibit A-3 

 IN WITNESS WHEREOF, the parties hereto have caused this Assignment and Assumption Agreement to be
executed by their respective officers thereunto duly authorized as of the date first above written 
  

			
	 [ASSIGNOR]

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

			
	 [ASSIGNEE]

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 Exhibit A-4 

 Address for notices and Account for payments: 
  

			
	 For Credit Matters:
	 	 For Administrative Matters:

		
	 Bank of America, N.A.,
 as Administrative Agent
 231 South LaSalle Street, 16th Floor
 Chicago, Illinois 60697
	 	 Bank of America, N.A.
 Hearst Tower
 19th Floor
 Charlotte, North Carolina 28255

		
	 Attention: Willem Van Beek
	 	 Attention: Camille Zerbinos

		
	 Telephone: 312/828-3119
 Telefax: 312/453-3410
	 	 Telephone: (704) 386-8361
 Telefax: (704) 388-0027

		
	 Account for Payments:
	 	 
		
	 Deutsche Bank
	 	 
		
	 ABA Number: 021-001-033
 Account Number: 00-384-710
 Attention: Jessica Richmond
	 	 
		
	                 Re:
[                    ]
	 	 
		
	Consented to this [            ] day of
[                                    ],
20    	 	Accepted this[            ] day of
[                                    ],
20    
		
	 Bank of America, N.A., as Administrator
	 	 Bank of America, N.A., as Administrative Agent

  

							
	 By:
	 	  

	 	 By:
	 	  

	 Name:
	 	 	 	 Name:
	 	 
	 Title:
	 	 	 	 Title:
	 	 

  

 Exhibit A-5 

 Exhibit B 
  

Credit and Collection Policies 
  
 The Servicer’s Credit and Collection Policy, relating to Contracts and Receivables, existing on the Closing Date hereof are as set forth in manuals
that were delivered by the Servicer to the Administrative Agent and the Insurer prior to the Closing Date. 
  
  

 Exhibit B-1 

 Exhibit C 
  

Form of Monthly Servicer Report 
  
 [To be agreed upon by the Administrative Agent, MBIA and the Performance Guarantor and to be provided by the Servicer] 
  
 [To include the monthly certifications listed under “Reports and
Information” on the Term Sheet.] 
  

 Exhibit C-1 

 Exhibit D 
  

Form of Assignments of Rents 
  
 [To be inserted] 
  

 Exhibit D-1 

 Exhibit E 
  

Microsoft Excel Report 
  
 [To be inserted] 
  

 Exhibit E-1 

 Exhibit F 
  

Form of Certificate of Perfection 
  
 [date] 
  
 Pursuant to and in accordance with Section 2.9(c) of that certain Fifth Amended and Restated Purchase and Sale Agreement, dated as of September 1, 2003, by and among Raytheon Aircraft Credit Corporation, as originator
and servicer, General Aviation Receivables Corporation, as seller, Raytheon Aircraft Receivables Corporation, as transferor, the Purchasers as defined therein, and Bank of America, N.A., as Administrative Agent, as Administrator and as Alternate
Purchaser and the other Alternate Purchasers from time to time party thereto (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Purchase and Sale Agreement”; capitalized terms used and not
defined herein shall have the respective meanings ascribed thereto in the Purchase and Sale Agreement), the Servicer hereby certifies to each of the Administrative Agent and each of the Secured Parties that: 
  

	(1)	All items related to the Receivables identified on Schedule 1 attached hereto (the “Subject Receivables”) which as of the date of the Investment did not
satisfy the requirements of perfection referred to in the definition of “Investment Condition” now have been executed, recorded and delivered as contemplated by Section 6.1(q) of the Purchase and Sale Agreement; and

  

	(2)	The amount requested to be disbursed from the Cash Reserve Account in respect of the Subject Receivables is
$             which is the lesser of (a) the current balance in the Cash Reserve Account minus the amount of any net loss incurred on any Eligible Investments made from funds
on deposit in the Cash Reserve Account to the extent not previously deducted from any prior payment to the Seller pursuant to Section 2.9(c) of the Purchase and Sale Agreement and (b)
$             [100% of the aggregate Unpaid Balance of the Subject Receivables]. 

  
 The Servicer hereby requests that the Control Party instruct the Administrative Agent to disburse the funds to which the Seller is entitled
pursuant to paragraph 2 above in accordance with the following instructions:
                                        
        . 
  

			
	 RAYTHEON AIRCRAFT CREDIT CORPORATION,
 as Servicer

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 Exhibit F-1 

 Exhibit G 
  

Form of Notice of Release 
  
 [date] 
  
 Pursuant to and in accordance with Section 2.9(c) of that certain Fifth Amended and Restated Purchase and Sale Agreement, dated as of September 1, 2003, by and among Raytheon Aircraft Credit Corporation, as originator
and servicer, General Aviation Receivables Corporation, as seller, Raytheon Aircraft Receivables Corporation, as transferor, the Purchasers as defined therein, and Bank of America, N.A., as Administrative Agent, as Administrator and as Alternate
Purchaser and the other Alternate Purchasers from time to time party thereto (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Purchase and Sale Agreement”; capitalized terms used and not
defined herein shall have the respective meanings ascribed thereto in the Purchase and Sale Agreement), the Control Party hereby instructs the Administrative Agent that: 
  

	(1)	In reliance upon the Certificate of Perfection dated as of
                     with respect to the Receivables identified on Schedule I hereto (the “Subject Certificate of
Perfection”, a copy of which is attached hereto), the amount authorized to be released to the Seller is $            . 

  
 The Control Party hereby directs and authorizes the Administrative Agent to disburse the
amount referred to in paragraph (1) above to the Seller in accordance with the instructions provided in the attached Subject Certificate of Perfection. 
  

			
	 [CONTROL PARTY]

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 Exhibit G-1 

 Annex A 
  
 Minimum Capital Payments and Related Settlement Dates 
  

			
	 Amount of Investment due

	 	 Related Settlement Date

	 $70,107,868.51
	 	The Settlement Date occurring in October 2005
	 $56,086,294.81
	 	The Settlement Date occurring in April 2007
	 $56,086,294.81
	 	The Settlement Date occurring in October 2008
	 $42,064,721.11
	 	The Settlement Date occurring in April 2010
	 $28,043,147.40
	 	The Settlement Date occurring in October 2011
	 $14,021,573.70
	 	The Settlement Date occurring in April 2013
	 $14,021,573.70
	 	The Settlement Date occurring in October 2014

  

 Annex A-1 

 Annex B 
  
 Duties of the Servicer 
  
 Standard of Care 
  
 In performing the Services, the Servicer shall comply with the Standard of Care. 
  
 Receivable Management 
  
 The Servicer shall take or cause to be taken all such actions as may be necessary or advisable to administer, service and collect each Receivable from time to time, all
in accordance with applicable laws, rules and regulations, with reasonable care and diligence, in accordance with the Standard of Care and solely in accordance with the Credit and Collection Policy. The Servicer shall enforce the rights and
interests of the Administrative Agent, the Purchasers and the Insurer in and under the Receivables and the Contracts and with respect to the Aircraft. 
  
 General services in connection with each Receivable 
  
 The Servicer shall: 
  

	 	•	Monitor the performance of the Obligor under the relevant Receivable; 

  

	 	•	Bring to the attention of each Obligor any concerns regarding the performance of the Obligor of its obligations under the relevant Contract; and 

  

	 	•	Remind the Obligor, where appropriate, of its obligations under the relevant Contract to provide periodic information. 

  
 Collections and Disbursements 
  
 The Servicer shall: 
  

	 	•	Prepare and issue invoices, notices and advices to each Obligor for all payments due including rents, deposits, reserves, fees, principal, interest, interest on past due amounts,
late payment charges, any payments due in respect of taxes and any other payments that may be due under the relevant Receivable; 

  

	 	•	Use reasonable administrative efforts to enforce payment of each Receivable in the event of non-payment by the relevant due date; 

  

	 	•	Direct all Obligors to remit payments relating to the Receivables solely to a post office box, lockbox or deposit account, in each case covered by a Blocked Account Agreement;

  

	 	•	Remit (or cause to be remitted) daily to the Collection Account, all Collections within five (5) Business Days (i) after deposit thereof into either of the Raytheon Aircraft and
Affiliated Companies Account or the RACC Intrust Bank Account and (ii) in the case of Collections otherwise received by any Raytheon Entity or any Affiliate of a Raytheon Entity, after identification by such the Servicer of such funds as
Collections. 

  

	 	•	Maintain appropriate records regarding payments made and payments due under each Receivable; 

  

 Annex B-1 

	 	•	Review from time to time the level of rents, payments of principal and interest, deposits, letters of credit and other amounts that may be adjusted under any Receivable that shall
include but not be limited to adjustments resulting from changes in the underlying interest rate; 

  

	 	•	Make all necessary adjustments as a result of such a review and amend its records appropriately; and 

  

	 	•	Provide for the timely drawing on any letters of credit, deposits, guarantees or other credit support held in relation to the relevant Receivable in each case using commercially
reasonable efforts to maximize the Collections with respect to such Receivable (except as otherwise expressly set forth in this Agreement). 

  
 Administrative Services 
  
 The Servicer shall: 
  

	 	•	Monitor receipts in and withdrawals from the Collection Account; 

  

	 	•	Calculate the amounts due to each party as directed by Section 2.12 of this Agreement and provide notice to the Administrative Agent of all payments due on each Settlement
Date; 

  

	 	•	With respect to any Receivable backed by a letter of credit, prepare any drawing request required under such letter of credit and, if the payment due under such Contract is not made
by the drawing deadline under such letter of credit, coordinate with the Administrative Agent or bailee possessing such letter of credit so as to make a drawing thereunder. The Servicer may maintain letters of credit and cash collateral as expressly
provided in this Agreement. Further, if the expiration date of any letter of credit related to any Receivable is not extended when a principal balance of such Receivable remains outstanding, the Servicer shall, or shall cause the appropriate
Raytheon Entity to, coordinate with the Administrative Agent or bailee possessing such letter of credit so as to draw the aggregate available amount under such letter of credit prior to the expiration thereof; 

  

	 	•	Use commercially reasonable efforts to monitor payment of taxes and other governmental charges with respect to the Receivables; 

  

	 	•	Use commercially reasonable efforts to monitor licensing, permits and other documentation required with respect to the Receivables; 

  

	 	•	File financing statements and continuation statements and other applicable documents to ensure the Administrative Agent maintains, subject to the Investment Condition, a first
priority, perfected security interest in the Receivables, Affected Assets and the Related Security; 

  

	 	•	Use commercially reasonable efforts to monitor and identify laws, rules and regulations applicable to the Receivables; and 

  

	 	•	Maintain an information management system with respect to the Receivables and the Collateral with substantially the same capability as the system maintained by the Servicer on the
Closing Date. 

  

 Annex B-2 

 Amendments to Documents 
  
 Except as otherwise provided in this Agreement or provided below, the Servicer may not extend, amend or otherwise modify the terms of any
Receivable, or amend, modify or waive any term or condition of any Contract related thereto, or extend, amend or otherwise modify the rights of the Seller other than: 
  

	 	•	Where the entire Receivable is being transferred to another entity affiliated with the current Obligor reflecting credit characteristics at least as favorable as those in effect
prior to such transfer; 

  

	 	•	The Obligor under an existing Aircraft Fractional Share substitutes the current collateral for another Aircraft Fractional Share of the same model type with prevailing market value
equal to or greater than the current collateral. The Servicer shall be entitled to amend the existing Contracts or enter into new Contracts provided that the principal financial terms of the Receivable, including, without limitation, the principal
amount thereof, remain unchanged and all other provisions of such Contract are at least as favorable as those prior to such amendment or entry into such new Contract and the Servicer takes all actions perfect or to maintain perfection as are
required by this Agreement; 

  

	 	•	To waive in accordance with the Standard of Care any late payment penalty or default interest that may accrue as a result of any late payment or other default;

  

	 	•	The Servicer shall use commercially reasonable practices in managing past due amounts owing in respect of Receivables. In that connection, the Servicer shall be permitted to
structure plans to bring not more than three months of past due amounts under a Receivable current over a repayment period not to exceed 180 days. For reporting purposes, such a Receivable will still be shown as past due until such past due amounts,
as rescheduled, have been repaid in full;  

  

	 	•	In the case of a prepayment of a Receivable in respect of an Aircraft Fractional Share in connection with the transfer of a portion of such Aircraft Fractional Share back to Flight
Options, to permit a release in the amount of the lien on the portion of such Aircraft Fractional Share so transferred pro rata with the amount of the Receivable prepayment; and  

  

	 	•	To extend the term of any Brazilian operating lease as set forth in the “Brazilian Operating Lease” section in Schedule II to a date no later than the Settlement Date
occurring in September 2014; provided that the Servicer simultaneously receives extended powers of attorney in favor of the Administrative Agent effective through a date no earlier than three (3) months after the new scheduled expiration date of
such lease. 

  
 Insurance Provisions

  
 The Servicer shall: 
  

	 	•	Monitor the performance of the obligations of Obligors relating to insurance (including hull values, war risks and liabilities) required by the relevant Contract;

  

	 	•	Bring to the attention of each Obligor any concerns regarding the nature of the prevailing insurances; 

  

	 	•	Obtain copies of associated documentation ensuring that they reflect the requirements of the relevant Contract; 

  

 Annex B-3 

	 	•	Obtain and maintain acceptable levels of contingent insurance coverage that become applicable if at any time there ceases to be acceptable insurance coverage for the relevant
Contract; and 

  

	 	•	In the event that any Aircraft is declared a total loss, the Servicer shall take all steps necessary to ensure that all funds due and payable to the loss payee under the insurances
are received and applied in the appropriate manner. 

  
 Enforcement 
  
 The Servicer shall take all commercially
reasonable steps in accordance with the Standard of Care following any default by an Obligor under any applicable Contract to preserve and enforce the rights of the Administrative Agent, the Purchasers and the Insurer under the relevant Contract.
Where the Servicer has declared an event of default thereunder, this shall include repossessing or taking possession of the relevant Aircraft and pursuing legal action with respect thereto. In the case of an Aircraft Fractional Share, upon the
request of the Administrative Agent (with the prior written consent of the Control Party), or the Control Party (with prior written notice to the Administrative Agent), the Servicer shall exercise its right to have Flight Options repurchase such
interest for a price based on fair market value at such time and apply such proceeds to the repayment of the related Receivable. 
  
 Repossession 
  
 At any time the Servicer deems it proper and lawful to repossess an Aircraft, the Servicer shall use its affiliates, dealers and sales representatives to take specific action to recover such Aircraft and transport
such Aircraft to a facility within the continental United States designated by the Servicer over which the Servicer has control, or any other facility or location that the Servicer considers appropriate. After repossession of an Aircraft, the
Servicer shall maintain the Aircraft free and clear of all Adverse Claims (other than any Permitted Lien). All previously unreimbursed costs and expenses associated with such repossession, to the extent comprising Permissible Servicer Expenses,
shall be payable to the Servicer pursuant to clause (viii) of Section 2.12 of this Agreement or, to the extent relating to a specific Receivable and outstanding at the time of the receipt of any related Recovery Proceeds, from such
Recovery Proceeds. 
  
 As part of this process, the Servicer shall: 
  

	 	•	Obtain information regarding the location of the Aircraft; 

  

	 	•	Prepare the information and documentation respecting the basis for the repossession; 

  

	 	•	Make arrangements to ensure that the Aircraft can be repossessed; 

  

	 	•	Make enquiries to ensure that the repossession can be effectuated without violating any laws, regulations or other pronouncements of any governmental authority and without violating
any rights of entities (including, without limitation, the related Obligors) that hold an interest in the Aircraft; 

  

	 	•	In no event shall the Servicer be required to undertake a repossession if it reasonably believes that to do so would be improper, unlawful, imprudent or otherwise inappropriate;

  

	 	•	Liaise with and instruct as appropriate legal counsel to effect the repossession of the Aircraft; 

  

 Annex B-4 

	 	•	Ensure that the Aircraft is airworthy and make arrangements to take possession of the Aircraft and transport it to an appropriate facility; 

  

	 	•	Deregister the Aircraft and reregister it in another jurisdiction if necessary; 

  

	 	•	Pay any necessary amounts due to permit the Aircraft to be transported to an appropriate facility; and 

  

	 	•	The Servicer shall be reimbursed for previously unreimbursed Permissible Servicer Expenses that it incurs in relation to the repossession of an Aircraft, including third party legal
fees and expenses, payment of outstanding liens, airport fees, pilot fees and expenses, required permits and licenses, air navigation fees, fuel and essential maintenance, through clause (viii) of Section 2.12, or to the extent
relating to a specific Receivable and outstanding at the time of the receipt of any related Recovery Proceeds, from such Recovery Proceeds. 

  
 Refurbishment 
  

	 	•	As soon as practicable following the date that the Aircraft is in the possession of the Servicer it shall, through its affiliates, dealers or representatives, analyze the technical
condition of the Aircraft. Where necessary a detailed technical inspection of the Aircraft shall be carried out; 

  

	 	•	The Servicer shall undertake all refurbishment work required for airworthiness by the FAA and the local aviation administration if the Aircraft is located at a facility outside the
United States; 

  

	 	•	The Servicer shall use its commercially reasonable judgment to undertake any refurbishment work that is deemed necessary to facilitate the sale of the Aircraft or where the price to
be paid by a prospective purchaser would be increased by an amount equal to not less than the cost of such refurbishment; 

  

	 	•	The Servicer shall perform any refurbishment tasks diligently and undertake in good faith to do so within commercially reasonable costs and timeframes; and 

 

	 	•	The Servicer shall be reimbursed for any previously unreimbursed Permissible Servicer Expenses, including costs relating to all reconditioning, repair, test flights, ferrying, air
navigation fees, pilot fees and expenses, required permits and licenses, repainting, recertification costs and other related services necessary or appropriate in order for the Aircraft to be remarketed effectively together with all inspection costs
and fees, through clause (viii) of Section 2.12 of this Agreement, and, to the extent relating to a specific Receivable and outstanding at the time of the receipt of any related Recovery Proceeds, from such Recovery Proceeds.

  
 Remarketing 
  
 For any Aircraft repossessed by the Servicer, the Servicer shall remarket such Aircraft. In
that connection, the Servicer shall: 
  

	 	•	Use commercially reasonable efforts to conduct a marketing effort to sell and/or lease the Aircraft comparable to the efforts the Servicer would use should the Aircraft form part of
its used aircraft inventory (such effort shall include advertisements in publications, direct mail, posting details on the internet and any other means that would be expected of a firm recognized in the business of selling similar aircraft);

  

 Annex B-5 

	 	•	In remarketing the Aircraft, the Servicer shall not favor aircraft owned or managed by it ahead of the Aircraft; 

  

	 	•	Provide details and specifications to any prospective purchaser; 

  

	 	•	Consider and evaluate all bona fide offers; 

  

	 	•	Accept any offer that results in the full repayment of the associated Receivable and accept the highest offer that it views as representative of the prevailing market for similar
aircraft; 

  

	 	•	Arrange for storing, hangaring, maintaining, repairing, demonstrating, insuring, fuelling, testing and ferrying the Aircraft as well as obtaining and paying for related Permissible
Servicer Expenses including permits, licenses, air navigation fees, pilot fees and expenses and other commercially reasonable costs as part of its remarketing effort including any sales commissions payable; and 

  

	 	•	Be reimbursed for all previously unreimbursed Permissible Servicer Expenses incurred with remarketing through clause (viii) of Section 2.12 of this Agreement or, to
the extent relating to a specific Receivable and outstanding at the time of the receipt of any related Recovery Proceeds, from such Recovery Proceeds. 

  
 Servicer Reports 
  
 Within ten (10) Business Days of the end of each Fiscal Month, the Servicer shall provide a Monthly Servicer Report containing details of: 
  

	 	•	All Receivables; 

  

	 	•	The aging of Receivables; 

  

	 	•	Any Contracts expiring during the previous Fiscal Month; 

  

	 	•	All prepayments; and 

  

	 	•	Number and dollar amount of: 

 delinquencies, 

losses, 
 defaults and 
 repossessed inventory 
  

 Annex B-6

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