Document:

Exhibit 4.29

				AMENDMENT NO. 3 TO SERVICING AGREEMENT

				THIS AMENDMENT NO. 3 TO SERVICING AGREEMENT, dated as of February 1, 2017 (this “Amendment”), amends the Servicing Agreement dated as of October 2, 2007 (as amended and supplemented from time to time, the “Servicing Agreement”), by and among, BBAM AIRCRAFT MANAGEMENT LP (formerly known as Babcock & Brown Aircraft Management LLC), a Delaware limited partnership (“BBAM”), BBAM AIRCRAFT MANAGEMENT (EUROPE) LIMITED (formerly known as Babcock & Brown Aircraft Management (Europe) Limited), a company incorporated under the laws of Ireland (“BBAM (Ireland)” and together with BBAM, the “Servicer”), BABCOCK & BROWN AIR FUNDING I LIMITED, a limited liability company incorporated under the laws of Bermuda (the “Company”), and AMBAC ASSURANCE CORPORATION, a Wisconsin stock insurance company (the “Policy Provider”). Unless otherwise defined in or amended by the terms of this Amendment, capitalized terms used in this Amendment shall have the meanings assigned in the Servicing Agreement.

				W I T N E S S E T H:

				WHEREAS, the parties hereto have previously entered into the Servicing Agreement; and

				WHEREAS, the parties hereto have agreed to amend certain provisions of the Servicing Agreement on the terms set forth herein.

				NOW THEREFORE, for valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

				Section 1.   Amendment to Servicing Agreement.

				1.01   Section 9.01(a) to the Servicing Agreement shall be replaced in its entirety with the following:

				“(a) In consideration of the Servicer's performance of the Services, the Company agrees to pay to the Servicer servicing fees consisting of (i) the rent fee set forth in Section 9.03 (“Rent Fee”), and (ii) the sales fee set forth in Section 9.04 (“Sales Fee”).

				1.02   Section 9.02 to the Servicing Agreement shall be replaced in its entirety with “Reserved.”

				1.03   Section 9.03 to the Servicing Agreement shall be replaced in its entirety with the following:

				“(a) A Rent Fee shall be payable by the Company to the Servicer in arrears for each period commencing on the Closing Date (or, thereafter, the most recent Calculation Date) and ending on the next succeeding Calculation Date during the term of this Agreement (each such period, a “Fee Period”), such payment to be made no later than the Payment Date immediately following the end of each such Fee Period.

				The “Rent Fee” in respect of any Fee Period shall equal the sum of (x) three and one-half percent (3.50%) of the aggregate amount of the Rents actually paid by each Lessee and, if any Lessee fails to pay any Rent when due, amounts applied towards such payment (including the application of any security deposit to the payment of Rent) during such Fee Period or portion of such Fee Period in which the relevant Aircraft constitutes an Aircraft Asset, plus (y) $1,000 per Aircraft which constitutes an Aircraft Asset during such Fee Period.

				(b) Not less than four Business Days prior to each Payment Date immediately following the end of each Fee Period, the Servicer shall deliver a written notice to the Company specifying the amount of the Rent Fee payable in respect of such Fee Period.”

				1.04   Appendix A (Construction and Usage; Definitions) to the Servicing Agreement shall be amended by replacing the definition of “Fee Period” in its entirety with the following:

				“Fee Period” has the meaning assigned to such term in Section 9.03(a) of the Servicing Agreement.

				1.05   Appendix A (Construction and Usage; Definitions) to the Servicing Agreement shall be amended by deleting the definition of “Monthly Base Fee” in its entirety.

				1.06   Appendix A (Construction and Usage; Definitions) to the Servicing Agreement shall be amended by deleting the definition of “Rent Collected Fee” in its entirety.

			

				

			

				

			

 

	

				1.07   Appendix A (Construction and Usage; Definitions) to the Servicing Agreement shall be amended by deleting the definition of “Rent Payable Fee” in its entirety.

				1.08   Appendix A (Construction and Usage; Definitions) to the Servicing Agreement shall be amended by replacing the definition of “Servicing Fees” in its entirety with the following:

				“Servicing Fees” means the Sales Fee, the Rent Fee and any other fees payable to the Servicer under the Servicing Agreement.

				Section 2.   Agreement as to Effective Date. The parties hereto agree that the amendments contained herein shall be deemed in effect from and after January 1, 2017.

				Section 3.   Miscellaneous.

				3.01   Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

				3.02   Captions. Captions and section headings appearing herein are included solely for convenience of reference and are not intended to affect the interpretation of any provision of this Amendment.

				3.03   Counterparts. This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Amendment by signing any such counterpart. The terms and conditions of this Amendment shall be, and be deemed to be, part of the terms and conditions of the Servicing Agreement for any and all purposes.

				3.04   Governing Law. This Amendment shall be deemed a contract under the State of New York and for all purposes shall be governed by and construed in accordance with the laws of the State of New York.

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

					
								 

								
								BABCOCK & BROWN AIR FUNDING I LIMITED,
 as the Company

							
	
								 

								
								 

								
								 

							
	
								 

								
								By:

								
								 

							
	
								 

								
								 

								
								Name:

							
	
								 

								
								 

								
								Title: 

							
	
								 

								
								 

								
								 

							
	
								 

								
								BAM AIRCRAFT MANAGEMENT LP,
as the Servicer

							
	
								 

								
								 

								
								 

							
	
								 

								
								By:

								
								 

							
	
								 

								
								 

								
								Name:

							
	
								 

								
								 

								
								Title:

							
	
								 

								
								 

								
								 

							
	
								 

								
								BBAM AIRCRAFT MANAGEMENT (EUROPE) LIMITED,
 as the Servicer

							
	
								 

								
								 

								
								 

							
	
								 

								
								By:

								
								 

							
	
								 

								
								 

								
								Name:

							
	
								 

								
								 

								
								Title: 

							
	
								 

								
								 

								
								 

							
	
								 

								
								AMBAC ASSURANCE CORPORATION,
 as the Policy Provide

							
	
								 

								
								 

								
								 

							
	
								 

								
								By:

								
								 

							
	
								 

								
								 

								
								Name:

							
	
								 

								
								 

								
								Title:

							

				

			

				[Signature Page – Amendment No. 3 to Servicing Agreement]Exhibit 4.30 

				THIRD AMENDMENT TO
 AMENDED AND RESTATED FLY LEASING LIMITED MANAGEMENT AGREEMENT

				Amendment (this “Amendment”), dated as of February 1, 2017, to that certain Amended and Restated Fly Leasing Limited Management Agreement, dated as of December 28, 2012, by and among Fly Leasing Limited, a Bermuda exempted company (the “Company”), and Fly Leasing Management Co. Limited, a Bermuda exempted company (the “Manager”), as amended by the First Amendment to Amended and Restated Fly Leasing Limited Management Agreement, dated as of June 19, 2015, and the Second Amendment to Amended and Restated Fly Leasing Limited Management Agreement, dated as of July 27, 2016 (as amended, the “Agreement”). Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Agreement.

				W I T N E S S E T H:

				WHEREAS, Section 16.6 of the Agreement permits the parties thereto to amend the Agreement by means of a document signed by all parties; and

				WHEREAS, the parties hereto desire to amend the Agreement as provided herein.

				NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and agreements contained herein, and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be bound hereby, the parties hereto hereby agree as follows:

				1.   Definitions.

				(A) Section 1.1 of the Agreement is hereby amended by deleting the definitions of “Base Fee”, “Rent Collected Fee” and “Rent Payable Fee” in their entirety.

				(B) Section 1.1 of the Agreement is hereby amended by replacing the definition of “Fee Period” in its entirety with the following:

				“Fee Period has the meaning given to that term in clause 5.1(a)(1);”

				(C) Section 1.1 of the Agreement is hereby amended to include the following definition:

				“The Rent Fee in respect of any Fee Period shall equal the sum of (x) three and one-half percent (3.50%) of the aggregate amount of the Rents actually paid by each lessee and, if any lessee fails to pay any Rent when due, amounts applied towards such payment (including the application of any security deposit to the payment of Rent) during such Fee Period or portion of such Fee Period in which the relevant aircraft is held by B&B Air Funding or any of its Subsidiaries, plus (y) $1,000 per aircraft held by B&B Air Funding or any of its Subsidiaries during such Fee Period;”

				2.   Servicing Fees. Section 5.1(a)(1) of the Agreement is hereby deleted in its entirety and replaced with the following:

				“In respect of the aircraft in the Initial Portfolio and any other aircraft that the Company acquires that will be held by B&B Air Funding or any of its Subsidiaries or any other Subsidiary established by the Company for the purpose of entering into an aircraft securitization financing, the Company shall pay to the Manager a Rent Fee, payable by the Company to the Manager in arrears for each period commencing on the most recent Calculation Date and ending on the next succeeding Calculation Date during the term of this Agreement (each such period, a Fee Period), such payment to be made no later than the Payment Date immediately following the end of each such Fee Period.

			

				

			

				

			

 

	

				3.   Administrative Agency Fees. Section 5.1(c) of the Agreement is hereby deleted in its entirety and replaced with the following:

				“Administrative Agency Fees

				The Company shall pay to the Manager an Administrative Agency Fee initially equal to $750,000 per annum for each aircraft securitization financing established by the Company. Administrative Agency Fees shall be payable in arrears in equal monthly installments on each Payment Date. The amount of the Administrative Agency Fee payable for each aircraft securitization financing established by the Company shall be subject to adjustment as set forth in clause 5.1(d) and such other adjustments as may be agreed between the Company and the Manager from time to time during the term of this Agreement.”

				4.   Adjusting the Administrative Agency Fees. Section 5.1(d) of the Agreement is hereby deleted in its entirety and replaced with the following:

				“Adjusting the Administrative Agency Fees

				The amount of the Administrative Agency Fee payable for each aircraft securitization financing established by the Company under clause 5.1(c) shall be increased (but not decreased) annually by the percentage movement (if any) in the CPI from January 1 to December 31 of each calendar year.”

				5.   Credit for Servicing Fees Paid. Section 5.4 of the Agreement is hereby deleted in its entirety and replaced with the following:

				“Credit for Servicing Fees Paid

				Rent fees and administrative agency fees paid to BBAM under any Servicing Agreement or Administrative Agency Agreement shall be credited toward (and thereby reduce) the amount of Rent Fees and Administrative Agency Fees due and payable by the Company to the Manager pursuant to clauses 5.1(a)(1) and 5.1(c). Sales fees paid to BBAM under any Servicing Agreement shall be credited toward (and thereby reduce) the amount of Origination and Disposition Fees due and payable by the Company to the Manager pursuant to clause 5.1(b).”

				6.   Effect of Termination. Section 10.3(b)(2) of the Agreement is hereby deleted in its entirety and replaced with the following:

				“claim by the Manager in respect of accrued Rent Fees, Origination and Disposition Fees, Change of Control Fees and Administrative Agency Fees in respect of the period to termination and the Company shall pay to the Manager any such accrued Rent Fees, Origination and Disposition Fees, Change of Control Fees or Administrative Agency Fees (it being agreed that the amount of the Rent Fees payable to the Manager with respect to the Fee Period during which this Agreement is terminated shall be calculated to the end of such Fee Period);”

				7.   Effect of Amendment. This Amendment shall be effective as of January 1, 2017. Except as expressly set forth herein, the Agreement shall not by implication or otherwise be supplemented or amended by virtue of this Amendment, and shall remain in full force and effect, as amended hereby.

				8.   Entire Agreement. The Agreement, as amended hereby, constitutes the entire agreement of the parties relating to the subject matter hereof and supersedes all prior contracts or agreements, whether oral or written. To the extent that there is a conflict between the terms and provisions of the Agreement and this Amendment, the terms and provisions of this Amendment shall govern for purposes of the subject matter of this Amendment only.

				9.   Severability. Should any provision of this Amendment or the application thereof to any Person or circumstance be held invalid or unenforceable to any extent: (a) such provision shall be ineffective to the extent, and only to the extent, of such unenforceability or prohibition and shall be enforced to the greatest extent permitted by applicable law, (b) such unenforceability or prohibition in any jurisdiction shall not invalidate or render unenforceable such provision as applied (i) to other Persons or circumstances or (ii) in any other jurisdiction, and (c) such unenforceability or prohibition shall not affect or invalidate any other provision of this Amendment.

			

				

			

				

			

 

	

				10.   Governing Law. This Amendment, the legal relations between the parties hereto and the adjudication and the enforcement thereof, shall in all respects be governed by, and construed in accordance with, the laws (excluding conflict of laws rules and principles) of the State of New York applicable to agreements made and to be performed entirely within such State, including all matters of construction, validity and performance.

				11.   Amendments and Waivers. No provision of this Amendment may be amended other than in accordance with the terms of the Agreement.

				12.   Counterparts. This Amendment may be executed by facsimile signatures and in any number of counterparts with the same effect as if all signatory parties had signed the same document. All counterparts shall be construed together and shall constitute one and the same instrument.

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				IN WITNESS WHEREOF, this Amendment has been duly executed on the date first written above.

					
								FLY LEASING LIMITED

								
								 

							
	
								 

								
								 

								
								 

							
	
								By: 

								
								 

								
								 

							
	
								 

								
								Name:

								
								 

							
	
								 

								
								Title:

								
								 

							
	
								 

								
								 

								
								 

							
	
								FLY LEASING MANAGEMENT CO. LIMITED

							
	
								 

								
								 

								
								 

							
	
								By: 

								
								 

								
								 

							
	
								 

								
								Name:

								
								 

							
	
								 

								
								Title:

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