Document:

================================================================================
                                                                  EXECUTION COPY

                       AMENDED AND RESTATED LOAN AGREEMENT

                                   dated as of

                                 March 15, 2000

                                     between

                         MORGAN STANLEY AIRCRAFT FINANCE

                                       and

                        MORGAN STANLEY DEAN WITTER & CO.

================================================================================

<PAGE>

                                TABLE OF CONTENTS

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

                                                                            PAGE
                                    ARTICLE 1
                                   DEFINITIONS

SECTION 1.01.  Definitions.....................................................1

                                    ARTICLE 2
                                      LOANS

SECTION 2.01.  Loans ..........................................................4
SECTION 2.02.  Borrowings......................................................4
SECTION 2.03.  Termination of Commitment and Maturity of Loans.................5
SECTION 2.04.  Interest........................................................5
SECTION 2.05.  Repayment of Interest and Loans.................................5
SECTION 2.06.  MSAF Facility Covenant..........................................6
SECTION 2.07.  General Provisions as to Payments...............................6
SECTION 2.08.  Note  ..........................................................6

                                    ARTICLE 3
                                  MISCELLANEOUS

SECTION 3.01.  Notices.........................................................6
SECTION 3.02.  Amendments and Waivers..........................................7
SECTION 3.03.  No Bankruptcy Petition..........................................8
SECTION 3.04.  Successors and Assigns..........................................8
SECTION 3.05.  Governing Law; Submission to Jurisdiction.......................8
SECTION 3.06.  Counterparts; Effectiveness; Third Party Beneficiaries..........8
SECTION 3.07.  WAIVER OF JURY TRIAL............................................9
SECTION 3.08.  Entire Agreement................................................9
SECTION 3.09.  Captions........................................................9

EXHIBIT A - Form of Note.....................................................A-1

<PAGE>

           AMENDED AND RESTATED LOAN AGREEMENT dated as of March 15, 2000
between MORGAN STANLEY AIRCRAFT FINANCE, a Delaware statutory business trust
("MSAF") and MORGAN STANLEY DEAN WITTER & CO., a Delaware corporation ( "MSDW").

           WHEREAS, MSDW has agreed to make loans to MSAF;

           NOW, THEREFORE, the parties agree as follows:

                                    ARTICLE 1
                                   DEFINITIONS

           SECTION 1.01. Definitions. The following terms, as used in this
Agreement, have the following meanings:

           "Agreement" means this Loan Agreement, as amended and in effect from
time to time.

           "Business Day" means any day on which United States dollar deposits
may be traded on the London inter-bank market and commercial banks and foreign
exchange markets are open in New York, New York and London, England.

           "Commitment" means MSDW's obligation to make Loans to MSAF at any
time, up to a maximum of the Commitment Amount at such time.

           "Commitment Amount" means, at any time, the sum of (A) $30,000,000
less (B) the aggregate amount of outstanding Loans at such time.

           "Drawing" means any borrowing that MSAF makes under the MSAF
Facilities in order to make a payment of principal of or interest on MSAF's
securitization debt.

           "ILFC Agreement" means the Amended and Restated Custody and Loan
Agreement dated as of August 6, 1999 among MSAF, the other MSAF Lessors (as
defined therein) and International Lease Finance Corporation.

           "Indenture" means the indenture dated as of March 3, 1998 between
MSAF and Bankers Trust Company, pursuant to which the securitization debt of
MSAF is issued.

                                       1

<PAGE>

           "Indenture Default" means any time following the delivery of "Default
Notice" (as defined in the indenture) under the Indenture or during the
continuance of an "Acceleration Default" (as defined in the Indenture).

           "Intercreditor Agreement" means the Intercreditor Agreement dated as
of March 3, 1998 among MSDW, International Lease Finance Corporation and the
other MSAF Facility Providers (as defined therein).

           "Loan" means any loan made by MSDW to MSAF pursuant to Section
2.01(a) of this Agreement.

           "MSDW" has the meaning specified in the preamble to this Agreement.

           "MSDW Drawing Share" means on the occasion of any Drawing, the amount
which is equal to the product of (x) the applicable Total MSAF Facilities
Drawing Amount multiplied by (y) the fraction which is the quotient of (A) the
Commitment Amount immediately before such Drawing divided by (B) the aggregate
amounts committed and available for drawing under the MSAF Facilities
immediately before such Drawing.

           "MSDW Repayment Share" means, on each Payment Date, the amount which
is equal to the product of (x) the applicable Total MSAF Facilities Repayment
Amount multiplied by (y) the fraction which is the quotient of (A) outstanding
Loans immediately before the applicable repayment divided by (B) the aggregate
amounts outstanding and required to be repaid under the MSAF Facilities
immediately before such repayment.

           "MSAF" has the meaning specified in the preamble to this Agreement.

           "MSAF Facility" means (i) this Agreement, (ii) the ILFC Agreement and
(iii) any other credit or liquidity enhancement facility provided to MSAF that
ranks pari passu with this Agreement and the ILFC Agreement.

           "MSAF Facility Provider" means the provider of any MSAF Facility.

           "Note" means the promissory note of MSAF payable to the order of MSDW
substantially in the form of Exhibit A, evidencing MSAF's obligation to repay
the Loans.

                                       2

<PAGE>

           "Notice of Additional Borrowing" has the meaning specified in Section
2.02(c).

           "Notice of Borrowing" has the meaning specified in Section 2.02(a).

           "Notice of Repayment" has the meaning specified in Section 2.05(a).

           "Payment Date" means the 15th day of each month (or, if such day is
not a Business Day, the next succeeding Business Day).

           "Person" means an individual, a corporation, a limited liability
company, a partnership, an association, a trust or any other entity or
organization, including a government or political subdivision or an agency or
instrumentality of such government or political subdivision.

           "Subsidiary" means, as to any Person, any corporation or other entity
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.

           "Termination Date" means the earlier of the date (i) of the repayment
or defeasance (but not refinancing) of all of MSAF's securitization debt and
(ii) of the sale at any time by MSAF and its Subsidiaries of all aircraft owned
by MSAF and its Subsidiaries at such time.

           "Total MSAF Facilities Drawing Amount" means, at the time of each
Drawing, the total amount to be drawn by MSAF under the MSAF Facilities in order
to make a payment of principal of or interest on MSAF's securitization debt on
the next Payment Date.

           "Total MSAF Facilities Repayment Amount" means, on each Payment Date,
the total amount available to MSAF for the repayment of amounts outstanding
under the MSAF Facilities, after the payment of all amounts required to be paid
on such Payment Date pursuant to Section 3.08(a)(x) or, during an Indenture
Default, Section 3.08(b)(vi) of the Indenture.

           "United States" means the United States of America.

                                       3

<PAGE>

                                    ARTICLE 2
                                      LOANS

           SECTION 2.01. Loans. (a) MSDW agrees, on the terms and conditions set
forth in this Agreement, to make Loans to MSAF from time to time during the term
of this Agreement to enable MSAF to make a payment of principal of or interest
on MSAF's securitization debt; provided that the amount of any such Loan shall
not exceed the Commitment Amount in effect immediately before such Loan is made.

           (b) MSAF may borrow under this Section 2.01, repay Loans as provided
in Section 2.05 and reborrow under this Section 2.01, at any time during the
term of this Agreement.

           SECTION 2.02. Borrowings. (a) Not later than 8:30 P.M. (New York City
time) on the Business Day before the date of any Loan that MSAF wishes MSDW
to make, MSAF shall give MSDW notice (a "Notice of Borrowing"), specifying:

          (i)  the applicable Total MSAF Facilities Drawing Amount;

         (ii)  the amount of such Loan, which shall be equal to the related MSDW
               Drawing Share; and

        (iii)  the date (which shall be a Business Day) of such Loan.

           (b) Not later than 5:30 P.M. (New York City time) on the date of any
Loan specified in a Notice of Borrowing, MSDW shall make available the amount of
such Loan to MSAF, in lawful money of the United States in Federal or other
funds immediately available in New York City.

           (c) If, for any reason, on the date of any Loan MSAF does not receive
the full applicable Total Drawing Amount under the MSAF Facilities, not later
than 8:30 P.M. (New York City time) on the date of such Loan, MSAF may give MSDW
notice of an additional Loan (a "Notice of Additional Borrowing"), specifying:

          (i)  the shortfall in such Total MSAF Facilities Drawing Amount; and

          (ii) the amount of such additional Loan, which may be any amount up to
               the Commitment Amount; and

          (iii) the date (which shall be the next Business Day) of such
               additional Loan.

                                       4

<PAGE>

           (d) Not later than 5:30 P.M. (New York City time) on the date of any
additional Loan specified in a Notice of Additional Borrowing, MSDW shall make
available the amount of the applicable additional Loan to MSAF, in lawful money
of the United States in Federal or other funds immediately available in New York
City.

           SECTION 2.03. Termination of Commitment and Maturity of Loans. On the
Termination Date, the Commitment shall terminate and on the next Payment Date,
unless repaid earlier pursuant to Section 2.05, each Loan shall mature, and its
principal amount shall, to the extent that there are amounts available to MSAF
on such Payment Date after the payment of all amounts required to be paid on
such Payment Date pursuant to Section 3.08(a)(x) or, during an Indenture
Default, Section 3.08(b)(vi) of the Indenture, be due and payable (together with
any and all interest accrued thereon).

           SECTION 2.04. Interest. Each Loan shall bear interest on its
outstanding principal amount, for each day from the date such Loan is made until
it is repaid, at a rate of 3% per annum, on the basis of a 360-day year
consisting of twelve 30- day months.

           SECTION 2.05. Repayment of Interest and Loans. (a) On each Payment
Date, to the extent that there are amounts available to MSAF on such Payment
Date after the payment of all amounts required to be paid on such Payment Date
pursuant to Section 3.08(a)(x) or, during an Indenture Default, Section
3.08(b)(vi) of the Indenture, MSAF shall repay interest on and principal of
outstanding Loans in accordance with Section 3.08(a)(xi) or, during an Indenture
Default, Section 3.08(b)(vii) of the Indenture. Not later than 12:30 P.M. (New
York City time) on the second Business Day before each Payment Date on which
MSAF intends to repay any interest on or principal of Loans, MSAF shall give
MSDW notice (a "Notice of Repayment"), specifying:

          (i)  the Total MSAF Facilities Repayment Amount that it intends to
               repay on such Payment Date; and

          (ii) the MSDW Repayment Share.

            (b) On each Payment Date following a Notice of Repayment, MSAF shall
pay to MSDW the MSDW Repayment Share specified in such Notice of Repayment,
which shall be applied to repay:

          (i)  first, all interest then accrued in accordance with Section 2.04;
               and

          (ii) second, the principal amount of any Loans then outstanding.

                                       5

<PAGE>

           SECTION 2.06. MSAF Facility Covenant. MSAF covenants with MSDW that
it shall not at any time enter into any MSAF Facility unless the applicable MSAF
Facility Provider simultaneously becomes a party to the Intercreditor Agreement.

           SECTION 2.07. General Provisions as to Payments. MSAF shall make each
payment pursuant to Section 2.05 at the times specified in Section 3.06(d) of
the Indenture and at such place as MSDW shall specify by notice to MSAF.

           SECTION 2.08. Note. (a) MSAF's obligation to repay any Loans shall be
evidenced by the Note.

           (b) MSDW shall record the date and amount of each Loan and the date
and amount of each payment of principal made by MSAF with respect to each such
Loan by endorsing on the schedule forming a part of the Note appropriate
notations to evidence such information with respect to each such Loan then
outstanding; provided that MSDW's failure to make (or any error in making) any
such endorsement shall not affect MSAF's obligations under this Agreement or
under the Note. MSDW is hereby irrevocably authorized by MSAF so to endorse the
Note and to attach to and make a part of the Note a continuation of such
schedule as and when required.

                                    ARTICLE 3
                                  MISCELLANEOUS

           SECTION 3.01. Notices. Any notice, request or information required or
permissible under this Agreement will be in writing and in English. Notices will
be delivered in person or sent by fax, letter (mailed airmail, certified and
return receipt requested), or by expedited delivery addressed to the parties as
set forth below in this Section 3.01. In the case of a fax, notice will be
deemed received upon the date set forth on the confirmation of receipt produced
by the sender's fax machine immediately after the fax is sent. In the case of a
mailed letter, notice will be deemed received on the tenth day after mailing. In
the case of a notice sent by expedited delivery, notice will be deemed received
on the date of delivery set forth in the records of the Person which
accomplished the delivery. If any notice is sent by more than one of the above
listed methods, notice will be deemed received on the earliest possible date in
accordance with the above provisions. Notices will be addressed as follows:

                                       6

<PAGE>

                    if to MSAF, to:

                        Morgan Stanley Aircraft Finance
                        c/o Cabot Aircraft Services Limited
                        Regus House
                        Harcourt Centre
                        Harcourt Road
                        Dublin 2
                        Ireland
                        Attention: Mr. Kieran O'Keefe
                        Fax: 353-1-402-9496

                        with a copy to:

                        Morgan Stanley & Co. International Limited
                        25 Cabot Square
                        Canary Wharf
                        London E14 4QA
                        England, United Kingdom
                        Attention: Mr. Scott Peterson
                        Fax: 44-171-425 4328

                    if to Morgan Stanley, to:

                        Morgan Stanley Dean Witter & Co.
                        1585 Broadway
                        New York, New York 10036
                        United States of America
                        Attention: Ms. Dian Packard
                        Fax: 1-212-762-7337

or to such other address as either party shall from time to time designate in
writing to the other party.

           SECTION 3.02. Amendments and Waivers. (a) Any provision of this
Agreement may be amended or waived if, but only if, such amendment or waiver is
in writing and is signed, in the case of an amendment, by each party to this
Agreement, or in the case of a waiver, by the party against whom the waiver is
to be effective.

           (b) No failure or delay by either party in exercising any right,
power or privilege under this Agreement shall operate as a waiver of such right,
power or privilege nor shall any single or partial exercise of such right, power
or privilege

                                       7

<PAGE>

preclude any other or further exercise of such right, power or privilege or the
exercise of any other right, power or privilege. The rights and remedies
provided in this Agreement shall be cumulative and not exclusive of any rights
or remedies provided by law.

           SECTION 3.03. No Bankruptcy Petition. MSDW agrees that it shall not
take any steps for the purposes of procuring the appointment of any
administrative receiver or the making of any administrative order or for
instituting any bankruptcy, reorganization, arrangement, insolvency, winding-up,
liquidation, composition or any like proceedings under the laws of any
jurisdiction in respect of MSAF or in respect of any of MSAF's liabilities, as a
result of any claim or interest of MSDW under this Agreement.

           SECTION 3.04. Successors and Assigns. The provisions of this
Agreement shall be binding upon and inure to the benefit of the parties to this
Agreement and their respective successors and assigns; provided that neither
party may assign, delegate or otherwise transfer any of its rights and
obligations under this Agreement without the consent of the other party.

           SECTION 3.05.  Governing Law; Submission to Jurisdiction.  (a) This
Agreement shall be governed by and construed in accordance with the laws of the
State of New York.

            (b) The parties to this Agreement agree that any suit, action or
proceeding seeking to enforce any provision of, or based on any matter arising
out of or in connection with, this Agreement or the transactions contemplated by
this Agreement may be brought in the United States District Court for the
Southern District of New York or any other New York State court sitting in New
York City, and each of the parties hereby consents to the jurisdiction of such
courts (and of the appropriate appellate courts therefrom) in any such suit,
action or proceeding and irrevocably waives, to the fullest extent permitted by
law, any objection which it may now or in the future have to the laying of the
venue of any such suit, action or proceeding in any such court or that any such
suit, action or proceeding which is brought in any such court has been brought
in an inconvenient forum. Process in any such suit, action or proceeding may be
served on any party anywhere in the world, whether within or without the
jurisdiction of any such court. Without limiting the foregoing, each party
agrees that service of process on such party as provided in Section 3.01 shall
be deemed effective service of process on such party.

           SECTION 3.06. Counterparts; Effectiveness; Third Party Beneficiaries.
(a) This Agreement may be signed in any number of counterparts, each of which

                                       8

<PAGE>

shall be an original, with the same effect as if the signatures to each such
counterpart were upon the same instrument.

           (b) This Agreement shall become effective when (i) each party has
received a counterpart of this Agreement signed by the other party or facsimile
or other satisfactory confirmation that the other party has signed a counterpart
of this Agreement and (ii) MSDW has received the duly executed Note.

           (c) No provision of this Agreement is intended to confer upon any
Person other than the parties to this Agreement any rights or remedies under
this Agreement.

           SECTION 3.07. WAIVER OF JURY TRIAL. EACH PARTY TO THIS AGREEMENT
HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT.

           SECTION 3.08. Entire Agreement. This Agreement constitutes the entire
agreement between the parties with respect to the subject matter of this
Agreement and supersedes all prior agreements and understandings, both oral and
written, between the parties with respect to the subject matter of this
Agreement.

           SECTION 3.09. Captions. The captions used in this Agreement are
included for convenience of reference only and shall be ignored in the
construction or interpretation of this Agreement.

                                       9

<PAGE>

           IN WITNESS WHEREOF, each of the parties has caused this Agreement to
be duly executed by its authorized representative or officer, as applicable, as
of the day and year first above written.

                                                    MORGAN STANLEY AIRCRAFT
                                                      FINANCE

                                                    By: /s/ Brian J. Gill
                                                       -------------------------
                                                       Name:
                                                       Title:

                                                    MORGAN STANLEY DEAN WITTER &
                                                      CO.

                                                    By: /s/ Alexander Frank
                                                       -------------------------
                                                       Name:
                                                       Title:

<PAGE>

                                                                       EXHIBIT A

                                  FORM OF NOTE

                                                 Wilmington, Delaware
                                                 March 15, 2000

           For value received, MORGAN STANLEY AIRCRAFT FINANCE, a Delaware
statutory business trust ("MSAF"), promises to pay to the order of MORGAN
STANLEY DEAN WITTER & CO., a Delaware corporation ("MSDW"), the unpaid principal
amount of each Loan made by MSDW to MSAF pursuant to the Loan Agreement referred
to below, as provided in the Loan Agreement. MSAF promises to pay interest on
the unpaid principal amount of each such Loan on the dates and at the rate
provided for in the Loan Agreement. All such payments of principal and interest
shall be made in lawful money of the United States in Federal or other
immediately available funds at MSDW's address specified in or pursuant to
Section 3.01 of the Loan Agreement.

           All Loans made by MSDW and all repayments of the principal thereof
shall be recorded by MSDW by endorsing appropriate notations to evidence such
information with respect to each such Loan then outstanding on the schedule
forming a part of this Note, or on a continuation of such schedule attached to
and made a part of this Note; provided that the failure of MSDW to make (or any
error in making) any such endorsement shall not affect MSAF's obligations under
this Note or the Loan Agreement.

           This note is the Note referred to in the Amended and Restated Loan
Agreement dated as of March 15, 2000 between MSAF and MSDW (as amended and in
effect from time to time, the "Loan Agreement"). MSAF's obligations under this
Note are subordinated to various other obligations of MSAF, as set forth in the
Indenture. Capitalized terms used and not defined in this Note have the meanings
specified in the Loan Agreement.

                                                    MORGAN STANLEY AIRCRAFT
                                                      FINANCE

                                                    By:
                                                       -------------------------
                                                       Name:
                                                       Title:

<PAGE>

                         LOANS AND PAYMENTS OF PRINCIPAL

________________________________________________________________________________
                                         Amount of
                  Amount of              Principal
 Date                Loan                 Repaid                Notation Made By
________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________Execution Copy

                      SECURITY TRUST AGREEMENT SUPPLEMENT

Bankers Trust Company, as Security Trustee
Four Albany Street
New York, New York 10006                                          March 15, 2000

Attention:  Corporate Trust & Agency Services -
            Structured Finance

            Re: Security Trust Agreement, dated as of March 3, 1998
                ---------------------------------------------------

     Reference is made to the Security Trust Agreement, dated as of March 3,
1998 (the "Security Trust Agreement"), among MORGAN STANLEY AIRCRAFT FINANCE, a
Delaware business trust created under the Trust Agreement, as amended through
the date hereof, among MS Financing Inc., as depositor, Wilmington Trust
Company, as the Delaware Trustee, the Independent Trustees, the Alternate
Controlling Trustee and the Controlling Trustees party thereto, the ISSUER
SUBSIDIARIES party thereto, CABOT AIRCRAFT SERVICES LIMITED, a company
incorporated under the laws of Ireland, as the Administrative Agent, BANKERS
TRUST COMPANY, a New York banking corporation, as the Cash Manager,
INTERNATIONAL LEASE FINANCE CORPORATION, a corporation incorporated under the
laws of the State of California, as the Servicer, INTERNATIONAL LEASE FINANCE
CORPORATION, as credit facility provider under the Custody and Loan Agreement,
MORGAN STANLEY DEAN WITTER & CO., as credit facility provider under the Loan
Agreement, BANKERS TRUST COMPANY, not in its individual capacity (except as
otherwise provided in the Indenture), but solely in its capacity as trustee
under the Indenture, BANKERS TRUST COMPANY, not in its individual capacity, but
solely as the initial Reference Agent, and BANKERS TRUST COMPANY, not in its
individual capacity (except as otherwise provided pursuant to Sections 6.03(i)
and 6.03(ii) of the Security Trust Agreement), but solely as the initial
Security Trustee (the "Security Trustee"). Capitalized terms used herein and
not otherwise defined herein shall have the meanings assigned to them in the
Security Trust Agreement.

     The undersigned hereby agrees, as of the date first above written, to
become a Grantor under the Security Trust Agreement as if it were an original
party thereto and agrees that each reference in the Security Trust Agreement to
"Grantor" shall also mean and be a reference to the undersigned.

     The undersigned hereby assigns and pledges to the Security Trustee for its
benefit and the benefit of the Secured Parties, and hereby grants to the
Security Trustee for its benefit

<PAGE>

                                       2

and the benefit of the Secured Parties a security interest in, all of its
right, title and interest in and to:

          (a) all of the following (collectively, the "Non-Trustee Account
     Collateral"):

               (i) all of the Non-Trustee Accounts (to the extent permitted by
          applicable law) in such Grantor's name, all funds held or required by
          the terms of the Indenture and any Guarantor Indenture to be held
          therein and all certificates and instruments, if any, from time to
          time representing or evidencing such Non- Trustee Accounts;

               (ii) all notes, certificates of deposit, deposit accounts,
          checks and other instruments from time to time hereafter delivered to
          or otherwise possessed by the Security Trustee for or on behalf of
          such Grantor in substitution for or in addition to any or all of the
          then existing Non-Trustee Account Collateral; and

               (iii) all interest, dividends, cash, instruments and other
          property from time to time received, receivable or otherwise
          distributed in respect of or in exchange for any or all of the then
          existing Non-Trustee Account Collateral;

          (b) all of the following (collectively, the "Cash Collateral"):

               (i) all funds of such Grantor held or required by the terms of
          the Indenture to be held in the Accounts and all certificates and
          instruments, if any, from time to time representing or evidencing
          such funds;

               (ii) all notes, certificates of deposit, deposit accounts,
          checks and other instruments from time to time hereafter delivered to
          or otherwise possessed by the Security Trustee for or on behalf of
          such Grantor in substitution for or in addition to any or all of the
          then existing Cash Collateral; and

               (iii) all interest, dividends, instruments and other property
          from time to time received, receivable or otherwise distributed in
          respect of or in exchange for any or all of the then existing Cash
          Collateral;

          (c) all "investment property" (as defined in Section 9-115(1)(f) of
     the UCC) of such Grantor, and all of the following (the "Investment
     Collateral"):

               (i) all Permitted Account Investments made or acquired from or
          with the proceeds of any Non-Trustee Account Collateral or Cash
          Collateral of such Grantor from time to time and all certificates and
          instruments, if any, from time to time representing or evidencing
          such Permitted Account Investments;

<PAGE>

                                       3

               (ii) all notes, certificates of deposit, deposit accounts,
          checks and other instruments from time to time hereafter delivered to
          or otherwise possessed by the Security Trustee for or on behalf of
          such Grantor in substitution of or in addition to any or all of the
          then existing Investment Collateral; and

               (iii) all interest, dividends, instruments and other property
          from time to time received, receivable or otherwise distributed in
          respect of or in exchange for any or all of the then existing
          Investment Collateral; and

          (d) all of the following (the "Security Collateral"):

               (i) all shares of Stock from time to time acquired by such
          Grantor in any manner, and the certificates representing such shares
          and all dividends, cash, instruments and other property from time to
          time received, receivable or otherwise distributed in respect of or
          in exchange for any or all such shares; and

               (ii) all indebtedness from time to time owed to such Grantor by
          any MSAF Group Member and the instruments evidencing such
          indebtedness, and all interest, cash, instruments and other property
          from time to time received, receivable or otherwise distributed in
          respect of or in exchange for any or all of such indebtedness;

          (e) all of such Grantor's right, title and interest in all beneficial
     interests in any MSAF Group members from time to time acquired by such
     Grantor in any manner, all certificates, if any, from time to time
     representing all such beneficial interests and all distributions, cash,
     instruments and other property from time to time received, receivable or
     otherwise distributed in respect of or in exchange for any or all such
     beneficial interests (the "Beneficial Interest Collateral");

          (f) all of such Grantor's right, title and interest in and to all
     Leases to which such Grantor is or may from time to time be party and any
     leasing arrangements among MSAF Group Members with respect to such Leases
     (the "Assigned Leases"), including without limitation, (A) all rights of
     such Grantor to receive moneys due and to become due under or pursuant to
     such Assigned Leases, (B) all rights of such Grantor to receive proceeds
     of any Insurance, indemnity, warranty or guaranty with respect to such
     Assigned Leases, (C) claims of such Grantor for damages arising out of or
     for breach or default under such Assigned Leases and (D) the right of such
     Grantor to terminate such Assigned Leases, to perform thereunder and to
     compel performance and otherwise exercise all remedies thereunder, whether
     arising under such leases or by statute or at law or in equity; and

<PAGE>

                                       4

          (g) all proceeds of any and all of the foregoing collateral
     (including, without limitation, proceeds that constitute property of the
     types described in subsections (a), (b), and (c), above).

     The undersigned hereby makes each representation and warranty set forth in
Section 2.07 of the Security Trust Agreement (as supplemented by the attached
Annexes) and hereby agrees to be bound as a Grantor by all of the terms and
provisions of the Security Trust Agreement. Each reference in the Security
Trust Agreement to the Security Collateral, the Assigned Leases and the
Beneficial Interest Collateral shall be construed to include a reference to the
corresponding Collateral hereunder.

     The undersigned hereby agrees, together with the Issuer, jointly and
severally to indemnify the Security Trustee, its officers, directors, employees
and agents in the manner set forth in Section 9.01 of the Security Trust
Agreement.

     Attached hereto are duly completed copies of Annex I and Annex II.

     This Security Trust Agreement Supplement shall be governed by, and
construed in accordance with, the laws of the State of New York.

                                               Very truly yours,

                                               MSA II

                                               By: /s/ Brian J. Gill
                                                  -----------------------------
                                                  Name: Brian J. Gill
                                                  Title: Authorized Signatory

Acknowledged and agreed to
as of the date first above written:

BANKERS TRUST COMPANY,
  not in its individual capacity, but
  solely as the initial Security Trustee

By: /s/ Jenna Kaufman
   -----------------------------------
   Name:  Jenna Kaufman
   Title: Vice President

<PAGE>

                                                                        ANNEX I
                                                  SECURITY AGREEMENT SUPPLEMENT

                                  TRADE NAMES

    None

<PAGE>

                                                                       ANNEX II
                                                  SECURITY AGREEMENT SUPPLEMENT

                            CHIEF PLACE OF BUSINESS
                                      AND
                      CHIEF EXECUTIVE OR REGISTERED OFFICE

                                                       Chief Executive or
Name of Grantor         Place of Business              Registered Office
---------------         -----------------              -----------------
MSA II             c/o Wilmington Trust Company    c/o Wilmington Trust Company
                   100 North Market Street         100 North Market Street
                   Rodney Square North             Rodney Square North
                   Wilmington                      Wilmington
                   Delaware 19890                  Delaware 19890
                   USA                             USA

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}]]