Document:

Exhibit 10.49

 

*** CERTAIN
CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND

FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE

COMMISSION
PURSUANT TO RULE 24B-2 OF THE

SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED

 

AMENDMENT NO. 1 TO LEASE AGREEMENT

(AIRCRAFT NO. 2)

 

This Amendment No. 1 to
Lease Agreement (Aircraft No. 2) (“Amendment”), dated as of November 10,
2008, is entered into by and between Pegasus Aviation Finance Company, a
Delaware corporation, having a mailing address at c/o AWAS Aviation
Services, Inc., One West Street, Suite 100-5, New York, NY 10004 (herein called “Lessor”), and Hawaiian
Airlines, Inc., a Delaware corporation, having its principal place of
business at 3375 Koapaka Street, Suite G350, Honolulu, Hawaii 96819
(herein called “Lessee”).

 

RECITALS

 

A.                                   Lessor and
Lessee have heretofore entered into a Lease Agreement (Aircraft No. 2)
dated as of October 21, 2008 which is being filed simultaneously herewith
(as the same may be supplemented, amended, novated or modified from time to
time, the “Lease”), pursuant to which Lessor has agreed to lease to Lessee one factory new Airbus Model A330-200
aircraft, together with two Rolls Royce Trent 772B engines installed thereon, as more
specifically described in the Lease Supplement attached to the Lease.

 

B.                                     The expected month for delivery of the
Aircraft pursuant to the Lease is April, 2011.

 

C.                                     Lessor and Lessee wish to amend the terms of
the Lease on the terms and conditions set forth herein.

 

D.                                    Capitalized terms used herein and not
otherwise defined herein shall have the meaning assigned to such terms in the
Lease and reference to “Articles” herein shall be construed to refer to
Articles of the Lease.

 

TERMS AND CONDITIONS

 

Therefore, in consideration
of the premises, and for good and valuable consideration, receipt of which is
hereby acknowledged, the parties hereto hereby agree as follows, with effect
from the date hereof:

 

1.                                       The reference in Article 2.2.1(ii) of the Lease to “February 1,
2010” is replaced by “April 1,
2009”.

 

*** Material has been omitted pursuant to a request for confidential
treatment and filed separately with the SEC

 

 

2.                                       The reference in Article 2.3.1 of
the Lease to “April, 2011”, is replaced by “May, 2010”.

 

3.                                        ANNEX I to Schedule 1 of the Lease is amended
and restated in its entirety as provided in Paragraph 1 of Schedule 1 hereto.

 

4.                                        Lessee represents and warrants to Lessor on
the date this Amendment is signed by Lessor and Lessee, that:

 

(i)                                     Lessee is a corporation duly organized and
existing in good standing under the laws of Delaware, has full power, authority
and legal right to own its properties and to carry on its business as presently
conducted and to perform its obligations under the Lease, as amended hereby,
holds all licenses, certificates and permits from all governmental authorities
necessary for the conduct of its business, and is duly qualified to do business
as a corporation in good standing in each jurisdiction in which the failure to
be so qualified would have a materially adverse effect on Lessee or on its
ability to perform its obligations under the Lease, as amended hereby.

 

(ii)                                  This Amendment has been duly authorized by
all necessary action on the part of Lessee, and neither the execution and
delivery hereof nor the consummation of the transactions contemplated hereby
nor compliance by Lessee with any of the terms and provisions hereof does or
will violate any provision of the articles of incorporation or by-laws of
Lessee or any law, rule, regulation, judgment, order or decree of any
government or governmental instrumentality or court having jurisdiction over
Lessee, or any of its activities or properties, or does or will result in any
breach of, or constitute any default under, or result in the creation of any
Lien upon any property of Lessee under, any indenture, mortgage, deed of trust,
conditional sale contract, loan or credit agreement, or other agreement or
instrument to which Lessee is a party or by which Lessee or its properties may
be bound or affected.

 

(iii)                               Neither the execution and delivery by Lessee
of this Amendment nor the performance by Lessee of any of the transactions
contemplated hereby require the consent, approval, order or authorization of,
or registration with, or the giving of notice to, the Aeronautics Authority or
any other domestic or foreign governmental authority, except for the approvals,
authorizations and consents that have heretofore been obtained, true and
complete copies of which have been delivered to Lessor.

 

(iv)                              This Amendment has been duly executed and
delivered by Lessee and constitutes the legal, valid, binding and enforceable
obligation of Lessee, except where the enforceability thereof may be limited by
applicable bankruptcy, insolvency or other laws affecting creditors’ rights
generally.

 

(v)                                 Lessee is a Certificated Air Carrier within
the meaning of Section 41102 of Title 49 of the United States Code
Annotated, and Lessor is entitled to the benefits and 

 

*** Material has been
omitted pursuant to a request for confidential treatment and filed separately
with the SEC

 

2

 

protections
of Section 1110 of the Bankruptcy Code (11 U.S.C. Section 1110) in
respect of the Aircraft leased to Lessee under the Lease, as amended hereby.

 

5.                                        Lessee shall cause this Amendment, so far as
required or permitted by applicable law or regulation, to be kept, filed,
registered and recorded at all times in accordance with Article 12 of the
Lease.

 

6.                                        On and after the date hereof of this
Amendment, each reference in the Lease to “this Lease”, “hereunder”, “hereof”,
or words of like import referring to the Lease shall mean and be a reference to
the Lease as amended by this Amendment. The Lease, except to the extent amended
by this Amendment, remains in full force and effect and is hereby in all
respects ratified and confirmed.

 

7.                                        This Amendment may be executed in any number
of counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same
agreement. Delivery of an executed counterpart of this Amendment by facsimile
shall be equally as effective as delivery of an originally executed counterpart.
Any party hereto delivering an executed counterpart of this Amendment by
facsimile shall also deliver an originally executed counterpart but the failure
to so deliver a manually executed counterpart shall not affect the validity,
enforceability or binding effect hereof.

 

8.                                        This Amendment shall in all respects be
governed by, and construed in accordance with, the internal laws of the State
of California, United States of America (without regard to any conflict of laws
rule that might result in the application of the laws of any other
jurisdiction), including all matters of construction, validity and performance.

 

*** Material has been
omitted pursuant to a request for confidential treatment and filed separately
with the SEC

 

3

 

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed by their respective authorized officers or representatives as of the
date first written above.

 

	
   

  	
  AWMS I

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HAWAIIAN AIRLINES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  

 

*** Material has been omitted pursuant to a request
for confidential treatment and filed separately with the SEC

 

4

 

[...***...]

 

*** Material has been omitted pursuant to a request
for confidential treatment and filed separately with the SEC

 

S-1

 

Schedule “1”

 

Intentionally omitted from
FAA filing counterpart as containing confidential financial information

 

*** Material has been omitted pursuant to a request
for confidential treatment and filed separately with the SEC

 

S-1Exhibit 10.50

 

Execution Version

 

AMENDMENT NUMBER ONE TO

AIRCRAFT LEASE AGREEMENT

 

Dated as of November 10,
2008

 

AMONG

 

C.I.T. LEASING CORPORATION

as Lessor

 

AND

 

HAWAIIAN AIRLINES, INC.

as Lessee

 

Concerning:

 

One (1) Airbus A330-200 Aircraft

Two (2) Rolls-Royce Trent 772B Engines

 

 

AMENDMENT NUMBER ONE TO AIRCRAFT
LEASE AGREEMENT

 

This
AMENDMENT NUMBER ONE TO AIRCRAFT LEASE AGREEMENT (this “Amendment”) is
dated as of November 10, 2008 and is entered into between C.I.T. LEASING
CORPORATION, a company organized
and existing under the applicable laws of the State of Delaware (“Lessor”) and HAWAIIAN AIRLINES,
INC., a company organized and
existing under the applicable laws of Delaware (“Lessee”).

 

RECITALS

 

WHEREAS,
Lessor and Lessee have previously entered into that certain Aircraft Lease
Agreement dated as of October 31, 2008 (as amended and supplemented to
date, the “Lease”);

 

WHEREAS,
pursuant to the Lease, Lessee has agreed to lease from Lessor one (1) Airbus
model A330-200aircraft, equipped
with two (2) Rolls-Royce Trent 772B engines (as more fully described and defined in the Lease, the “Aircraft”);

 

WHEREAS, Lessor and Lessee entered into a Side
Letter Agreement dated October 31, 2008 (the “Side Letter”), in
which Lessee was given the option to accelerate the Scheduled Delivery Date
from November 2010 to April 2010, and Lessee has elected to exercise
that option in accordance with the Side Letter; and

 

WHEREAS,
Lessee and Lessor desire to amend the provisions of the Lease as set forth
herein.

 

NOW, THEREFORE, for and in consideration of the premises and other good
and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, Lessor and Lessee hereby agree as follows:

 

AGREEMENT

 

1.             Definitions.  Capitalized terms not otherwise defined herein shall have the meanings given
to them in the Lease.

 

2.             Appendix 2A to Lease, Section 1.
 Section 1 of Appendix 2A to the
Lease is amended by deleting “November” and replacing it with “April”.

 

3.             Effectiveness of this
Amendment.  The modifications
and amendments to the terms of the Lease contained in and made by this
Amendment shall be effective as of the date hereof.

 

4.             No Other Modification.  Except as specifically provided herein,
all of the terms and conditions of the Lease, including but not limited to all
of Lessee’s obligations and liabilities set forth therein, remain unmodified
and are in full force and effect and the parties hereto hereby ratify the
same.  On and after the date hereof, each
reference in the Lease to “this Lease”, “hereunder”, “hereof”, or words of like
import referring to the Lease shall mean and be a reference to the Lease as
amended by this Amendment.

 

 

5.             Miscellaneous.

 

(a)       Governing Law.  THIS
AMENDMENT SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK, NEW YORK, U.S.A. APPLICABLE TO
CONTRACTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE WITHOUT REGARD
FOR CONFLICT OF LAW PRINCIPLES (OTHER THAN THE PROVISIONS OF SECTION 5-1401
OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).

 

(b)       Successors and Assigns. 
Subject to the provisions of Article 25 of the Lease, the terms and
provisions of this Amendment and each other Operative Document shall be binding
upon and inure to the benefit of Lessor and Lessee and their respective
successors and permitted assigns.

 

(c)       Counterparts.  This Amendment may be executed in
counterparts, each of which will constitute one and the same document.

 

(d)       Transaction Costs.  Each party hereto agrees to pay its own costs
and expenses incurred in connection with the preparation, execution and
delivery of this Amendment and any other documents delivered in connection
herewith, including without limitation, the fees, expenses and disbursements of
counsel.

 

(e)       Time is of the Essence.  Time and strict and punctual performance are
of the essence with respect to each provision of this Amendment.

 

(f)        Entire Agreement.  This Amendment
constitutes the entire agreement of Lessor and Lessee concerning the revisions
to the Scheduled Delivery Date and supersedes and cancels any and all previous
negotiations, arrangements, agreements, understandings or letters of interest
or intent with respect thereto.

 

(g)       Further Assurances.  Each of Lessor and Lessee hereby confirms for
the benefit of the other party that it will promptly and duly execute and
deliver any such further documents and assurances and take such further actions
as the other party hereto may from time to time reasonably request in order to
more effectively carry out the intent and purpose of this Amendment.

 

[SIGNATURE PAGE FOLLOWS]

 

 

IN
WITNESS WHEREOF, Lessor and Lessee have caused their duly authorized
representatives to execute and deliver this Amendment Number One to Aircraft
Lease Agreement as of the date first above written.

 

 

	
  HAWAIIAN
  AIRLINES, INC.

  	
   

  	
  C.I.T.
  LEASING CORPORATION

  
	
  Lessee

  	
   

  	
  Lessor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
   

  	
   

  

 

(Signature Page)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00153-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00153-of-00352.parquet"}]]