Document:

Exhibit 10.20

 

DEVELOPMENT AND PROTECTED DEVELOPMENT RIGHTS
AGREEMENT

 

THIS DEVELOPMENT AND PROTECTED
DEVELOPMENT RIGHTS AGREEMENT (the "Agreement") is entered into this 23rd day of April, 2014,
by and between Solar Wind Energy Tower, Inc., a Nevada corporation, (the "Developer") and the City of San Luis,
an Arizona municipal corporation (the "City"). This Agreement is entered into pursuant to City Resolution Number
1053.

 

RECITALS

 

A.WHEREAS, A.R.S. §
9-500.05 authorizes the City to enter into development agreements and A.R.S. § 9-1201 authorizes the City to enter into a
protected right development plan with landowners and persons having an interest in real property that is located in the City; and

 

B.WHEREAS, Solar Wind
Energy Tower, Inc., has an interest in 640 acres of property in the municipal limits of City (the "Property") located
between County 24th, County 25th, Ave. D, and Ave. C, which is more specifically described herein; and

 

C.WHEREAS, the Property
was the subject of a preannexation development agreement with San Luis Port II Industrial Park L.L.C. dated April 27, 2011; and

 

D.WHEREAS, this Agreement
is consistent with the portions of the City's General Plan applicable to the Property on the date this Agreement is executed;

 

E.WHEREAS, Developer
and City desire to see the ultimate development of the Property for the project proposed by Developer, as set forth in this agreement
which will have a significant and positive impact upon the City and its residents; and

 

F.WHEREAS, the City's
governing body has authorized execution of this Agreement by Resolution No. 1053

 

NOW, THEREFORE, the parties agree as follows:

 

AGREEMENT

ARTICLE 1. DEFINITIONS

 

The following terms shall
have the meanings set forth below whenever used in this Agreement, except where the context clearly indicates otherwise:

 

1.1. Certificate of Completion as used in this Agreement,
shall mean a final written acceptance of the completed and inspected project issued by the Public Works Department. A certificate
of completion will not be issued until the entire project is completed in conformance with the Agreement and accepted by the City.

 

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1.2. City shall mean and refer to the City of San Luis, an Arizona municipal
corporation, and any successor public body or entity.

1.3. Developer
shall mean and refer to Solar Wind Energy Tower, Inc. and/or its wholly owned subsidiaries, Solar Wind Energy, Inc., a Delaware
corporation or Arizona Green Power, LLC, an Arizona limited liability company.

1.4. Improvements
shall mean and refer to all public and private improvements which may be constructed from time to time on the Property, including,
without limitation, all structures, buildings, roads, driveways, parking areas, walls, landscaping and other improvements of any
type or kind, or any other alteration of the natural terrain to be built by the Developer or the City, as the case may be, pursuant
to the terms of this Agreement.

1.5. Property
as used in this Agreement shall mean and refer to all of the real property which is legally described in Exhibit A.

1.6. Protective
Development Right Plan and Schedule of Performance shall mean and refer to that schedule of performance agreed to by
the City and the Developer as set forth in Exhibit B attached hereto.

1.7. Tower
shall mean the solar wind tower project Developer proposes for the Property to generate electric power.

ARTICLE 2. DEVELOPMENT PLAN

2.1. Duration
of Protected Development Rights. The term of this Agreement shall continue and exist from the effective date of this
Agreement for a period of three years pursuant to the provisions of A.R.S. § 9-1203.A. Subject to the provisions of A.R.S.
§9-1203.B, the commencement of construction of the initial construction phase during the term of this Agreement shall entitle
the development of the Tower project to a two year extension of the term of this Agreement. Any building permit(s) issued shall
be subject to the provisions of A.R.S. §91203 .D.

2.2. Schedule
of Performance. The City and the Developer intend that the planning and development of the Property shall be achieved pursuant
to the Schedule of Performance attached hereto as Exhibit B.

2.3.
Approval and Processing of Plans. The City hereby acknowledges and agrees that development of the Property may occur over
a span of a number of years and will require the City's ongoing participation in the review and approval of modifications and
amendments to any site plans, infrastructure plans, drainage plans, design plans, building plans, grading permits, building permits,
archaeological and historic preservation review and disposition, and other plans, permit applications and inspections which are
a part of the City's current building and development requirements (hereinafter collectively called "Approval Requests").
City approves the Conceptual Plan attached hereto as Exhibit C for the development of the Property and agrees that
said Plan can be built by Developer consistent with the current zoning on the Property as a conditional use permit, or new zoning
to be obtained by Developer in accordance with City's rules regulations and ordinances and that it is consistent with the General
Plan of the City. The City agrees to timely process and support any rezoning application or conditional use permit application
submitted by the Developer to the City for the development of the Property in accordance with the Conceptual Plan. Developer will
be entitled to build the heights, densities, and intensity of uses as shown on Exhibit C, provided that all development
and zoning processes are complied with by Developer. In order to provide for expedited approval, permitting, and inspections,
it is agreed that City may engage appropriate consultants and professionals, in its sole discretion. Developer agrees to reimburse
City for those costs in accordance with the provisions of section 2.4 below.

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2.4. Review Process.
The City acknowledges the necessity for expeditious review by the City of all plans and other materials ("Submitted Materials")
submitted by the Developer to the City hereunder or pursuant to any zoning procedure, permit procedure, or other governmental
procedure pertaining to the development of the Property and agrees to use its reasonable efforts accomplish such an expeditious
review of the Submitted Materials whenever possible. As stated in Section 2.3 above, it is agreed that City may engage appropriate
consultants and professionals, including professionals to design and manage the construction of the improvements provided in Article
3, in its, sole discretion. Developer agrees to reimburse City
for all such costs and expenses. The City shall additionally be entitled to recover the administrative cost of staff time spent
by the Public Works Department with respect to plan review, permitting, and inspections. Billing for this time shall be by time
at the hourly rate of pay, plus benefits, of the person or persons performing work. Failure to render payment within twenty days
of the date of billing shall subject Developer to a service charge of 2 percent per month until such sums have been paid.

 

2.5. Manager's Power
to Consent. The City hereby acknowledges and agrees that any unnecessary delay hereunder would adversely affect the Developer
and/or the development of the Property, and hereby authorizes and empowers the City Manager to consent to any and all requests
of the Developer requiring the consent of the City hereunder without further action of the City Council, except for any actions
requiring City Council approval as a matter of law.

 

2.6. Conflict with
Prior Pre-Annexation Agreements. The City agrees in the event of any conflict between the provisions of this Agreement and
the City's preannexation development agreement with San Luis Port II Industrial Park L.L.C. dated April 27, 2011, any other development
agreement, or any other type of agreement with City as a party pertaining the Property, the terms and provisions of this Agreement
shall control.

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ARTICLE 3. TOWER WATER

 

Developer will develop a well or series
of wells on the Property to the specifications of City. Those specifications shall be with the understanding the wells will
need to supply untreated City water to the Tower in the amounts and for the period of time stated below. To this end the
specifications will provide for sufficient number of wells and sufficient depth and capacity to prudently be able to provide
water at 8,000 acre feet a year for 50 years with an understanding that the Developer or its successors shall be responsible
for such future replacement wells or future improvements to existing wells such that water can be supplied in the quantities
and for the time provided herein. The City agrees the Developer shall take delivery of untreated City water at the well(s)
and Developer shall construct the necessary infrastructure to transfer said City water to such location as determined by the
Developer for Developer's intended use of the Property. Developer also agrees to either build the infrastructure needed to
accept and treat gray water from the City wastewater treatment plant on Ave. D as an augmenting supply of water by the City,
or the infrastructure needed to have said gray water be injected so as to recharge the aquifer. Said wells and related
infrastructure and equipment shall be dedicated to the City along with appropriate easements for operation and maintenance by
the City. Subject to Federal and State regulation and the ability of the City to maintain a 150 year adequate water supply to
its residents and property owners, the City agrees to provide untreated City water and/or gray water to the Tower at the rate
of 8,000 acre feet of water per year for a period of 50 years as provided herein. Developer agrees to pay any and all costs
associated with any application for modification of the Arizona Department of Water Resources Decision and Order AWS No.
2011-003 for adequate water supply pursuant to subsection IV.4 of said Decision necessitated due to any committed demand
provided for herein. Payment of said costs shall be subject to the billing provisions as set forth in Section 2.4 above. City
agrees to work with Developer and/or its successors or assigns to supply water to the Property after this initial term has
expired. Untreated City water shall be initially supplied to Developer at the rate of $1.15 per thousand gallons, with a cost
of living adjustment as set forth below. The terms and conditions of provision of City water may be determined by
separate agreement between the City and Developer. Payment shall be subject to the provisions for billing as set forth in
Section 2.4 above. Developer agrees to supply and pay for all electric power needed to operate the wells providing untreated
City water, or the pumps providing gray water, to the Tower. Any and all storage, treatment, pressurization, purification, or
other water systems, save and except the wells on the Property, or improvements at the City's wastewater treatment plant, for
delivery of City water/or gray water to the Tower shall be the property and the responsibility of Developer or its successors
or assigns. The disposal of any brine or other byproducts of purification of water for tower operations shall not be through
the wastewater systems of City and shall be the responsibility of Developer or its successors.

 

Cost of Living Index Adjustment. At the end
of the fifth year after the date of provision of City water to the Tower begins, and each subsequent five years from that date,
the charge for water service shall be adjusted for the succeeding five (5) years in direct proportion to any increase in the cost
of living index from the base index (as defined below) to the last date prior to the anniversary date for which the index is published.
The cost of living index shall mean the United States Department of Labor's Bureau of Labor Statistics Consumer Price Index for
the Consumer Price Index excluding rent for the City of Phoenix, Arizona. The base index for the Consumer Price Index shall be
the index published for the month and year that water service is initiated, which the parties agree is agreed base index. If the
above-mentioned index shall subsequently cease to be published, City shall use such an index that is substantially similar in nature
to the present publication, and an adjustment to reflect that substantially similar index, if necessary, shall be made.

 

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ARTICLE 4. ROADWAYS AND EASEMENTS

 

4.1 24th
and Ave. D. Developer agrees to develop appropriate turn lanes, and traffic signalization on Ave. E at County 24th
and acquire such rights of way as may be needed and develop County 24th from Ave. E to Ave. D as a four lane
road and Ave, D from County 24th to the entry to the Tower site as a four lane road pursuant to the construction standards
and specifications for a major Arterial Street as set forth in the Yuma County Public Works Standards. The remainder of Ave. D
to County 25th Street shall be developed as a Major Collector with a right of way width of 80 feet. Developer agrees
to dedicate sufficient right of way such that this remainder from the entry to the Tower site on Ave. D to County 25th
Street shall be 55 feet in width from Section 13, Township 11 South, Range 24 West, Gila and Salt River Base and Meridian, Official
Records of Yuma County, Arizona. Developer agrees to be responsible for the relocation of Arizona Public Service Company power
poles as may be necessary.

 

4.2 24th
from D to C. Developer agrees to dedicate right of way on the northern edge of the Property along the County 24th
alignment from Ave. D to Ave. C in the width of 75 feet.

 

4.3 25th
from D to C. Developer agrees to dedicate right of way on the southern edge of the Property along the County 25th
alignment from Ave. D to Ave. C in the width of 75 feet.

 

4.4 Ave. C. Developer
agrees to dedicate right of way on the eastern edge of the Property along the Ave. C alignment in the width of 75 feet.

 

4.5. Traffic Study.
City shall provide for a traffic study and Developer agrees to reimburse City for said study pursuant to the reimbursement provisions
of Section 2.4 above, and develop and construct such additional roadway improvements or signalization, in addition to the improvements
stated above, as may be shown as needed by such study, or as agreed upon by the City and Developer, subject to Section 4.6 below.

 

4.6 Interior of Property.City
shall not require any right of way dedications or easements for public roadway or other purposes within the interior of the Property,
except as provided by Article 3 above.

 

4.7 Easements for
Transmission of Power. City agrees to provide Developer with the use of the City's existing right of way and easements on
Ave. D, to the extent that sufficient property rights exist such that transmission lines can safely and properly exist without
interference in other uses within the rights of way and/or easements, and can be established without interference in the use or
development of neighboring properties, and to work with Developer to obtain such additional rights of way or easements for the
transmission of electricity from the tower to such points as may be needed to connect to an appropriate electrical transmission
grid.

 

4.8 Street Lights.Developer agrees
to install street lights on Ave, D from the intersection with 24th street to the intersection with 25th
street and to establish a Street Lighting Improvement District.

 

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ARTICLE 5. UTILITY SERVICE

 

City agrees to provide
water and wastewater utility service to the Property, subject to the provisions of Article 3 above, in accordance with its ordinances,
rules, regulations, and rates.

 

ARTICLE 6.INDEMNIFICATION

 

6.1Developer agrees to defend, indemnity and hold harmless
City, its officers, officials and employees ("Indemnified Group") for liability from and against claims, damages,
losses and expenses of any nature whatsoever (including but not limited to reasonable attorney fees, court costs, the costs of
appellate proceedings, and all claim adjusting and handling expense), relating to, arising out of, resulting from or alleged to
have resulted from the Developer's acts, errors, mistakes or omissions relating to any action or inaction of the Developer under
this Agreement, including but not limited to work or services in the performance of this Agreement by any subcontractor or anyone
directly or indirectly employed by or contracting with the Developer or a subcontractor or anyone for whose acts any of them may
be liable.

6.2If any claim, action or proceeding is brought against
the Indemnified Group, by reason of any event that is the subject of this Agreement, Developer (at its sole cost and expense) shall
pay, resist or defend such claim or action on behalf of the Indemnified Group by the attorney of the Developer, or if covered by
insurance, Developer's insurer, all of which must be approved by City, which approval shall not be unreasonably withheld or delayed.
The City shall cooperate with all reasonable efforts in the handling and defense of such claim. Notwithstanding the foregoing,
the City may engage its own attorney to defend or assist in its defense, and the Developer shall pay the reasonable costs and expenses
thereof.

 

6.3Any settlement of claims must fully release and discharge
the Indemnified Group from any liability for such claims. The release and discharge shall be in writing and shall be subject to
approval by the City, which approval shall not be unreasonably withheld or delayed. If Developer neglects or refuses to defend
any of the Indemnified Group as required by this Agreement, any recovery or judgment against the Indemnified Group for a claim
covered by this Agreement shall conclusively establish Developer's liability to the Indemnified Group in connection with such recovery
or judgment. If the City desires to settle such dispute, the City shall be entitled to settle such dispute in good faith and Developer
shall be liable for the amount of such settlement, and all expenses in connection with such settlement.

 

6.4Insurance provisions set forth in this Agreement are
separate and independent from the indemnity provisions of this Agreement and shall not be construed in any way to limit the scope
and magnitude of the indemnity provisions of this Agreement. The indemnity provisions of this Agreement shall not be construed
in any way to limit the scope and magnitude and applicability of the insurance provisions of this Agreement.

 

6.5The indemnity provisions of this Agreement shall survive
the termination of this Agreement.

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ARTICLE 7. SUBAGREEMENTS

 

 

7.1Subordinate Development Agreements. The City and
Developer hereby acknowledge that the development of the Property may be accomplished by Developer through a series of other agreements
and arrangements. In connection therewith, it is anticipated and contemplated by the parties that there may be a desire to negotiate
and enter into separate and subordinate development agreements with the City and/or Developer with respect to infrastructure Improvements,
uses, plan approvals and other similar matters which may be the subject of separate agreements between the City and/or Developer.
Upon the request of Developer the City shall timely meet with and negotiate with Developer such other agreements and arrangements
necessary for the development of the Property.

 

ARTICLE 8. MEDIATION AND DEFAULT

 

8.1Representatives. To further the cooperation of
the parties in implementing this Agreement, the City and Developer each shall designate and appoint a representative to act as
a liaison between the City and its various departments and the Developer. The initial representative for the City (the "City
Representative") shall be the City Manager and the initial representative for the Developer shall be its project manager,
as identified by the Developer from time to time (the "Developer Representative"). The representatives shall be available
at all reasonable times to discuss and review the performance of the parties to this Agreement and the development of the Property.

 

8.2Mediation. If a dispute arises out of or relates
to this Agreement, or the breach thereof, and if the dispute cannot be settled through negotiation, the parties agree first to
try to settle the dispute through mediation before resorting to arbitration, litigation or some other dispute resolution procedure.
In the event that the parties cannot agree upon the selection of a mediator within seven (7) days, either party may request the
presiding judge of the Superior Court of Yuma County to assign a mediator from a list of mediators maintained by the Arizona Municipal
Risk Retention Pool.

 

8.3Default. Failure or unreasonable delay be any
party to perform any term or provision of this Agreement for a period of ten (10) days after written notice thereof from another
party shall constitute a default under this Agreement. If the default is of a nature which is not capable of being cured within
ten (10) days, the cure shall be commenced within such period, and diligently pursued to completion. The notice shall specify
the nature of the alleged default and the manner in which the default may be satisfactorily cured. In the event of a default hereunder
by any party, the non-defaulting party shall be entitled to all remedies at both law and in equity, including, without limitation,
specific performance and the right to perform the obligation(s) of which the defaulting party is in default and to immediately
seek reimbursement from the defaulting party of all sums expended in order to cure such default, together with interest on all
such sums from the date said sums are expended by the non-defaulting party for the purpose of curing the default to the date such
sums are paid in full.

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ARTICLE
9. TERMINATION

 

9.1Development Rights in the Event of Termination. Upon
the termination of this Agreement as provided herein, the Developer shall have no further rights to develop the Property pursuant
to this Agreement.

 

ARTICLE 10.CONFLICT OF INTEREST; REPRESENTATIVES
NOT INDIVIDUALLY LIABLE

 

10.1. Conflict of Interest.
Pursuant to Arizona law, rules and regulations, no member, official or employee of the City shall have any personal interest, direct
or indirect, in this Agreement, nor shall any such member, official or employee participate in any decision relating to this Agreement
which affects his or her personal interest or the interest of any corporation, partnership or association in which he or she is,
directly or indirectly, interested.

 

10.2. No Personal Liability.
No member, official or employee of the City shall be personally liable to Developer, or any successor or assignee, (a) in the event
of any default or breach by the City, (b) for any amount which may become due to the Developer or its successor or assign, or (c)
pursuant to any obligation of the City under the terms of this Agreement.

 

ARTICLE 11.FUTURE AGREEMENTS

 

It is anticipated and
contemplated by the parties that there may be a desire to negotiate and enter into separate independent agreements for the benefit
of both Developer and City. To this end the parties hereto agree to negotiate in good faith with regards to such agreements. Subject
to availability of power, federal and state regulation, and to such contractual commitments and obligations that might
exist, Developer agrees to negotiate with the City in good faith to supply electric power to the City, in the event City should
gain legal authority to provide electric utility service pursuant to A.R.S. §§9-511 et seq., at its best fixed rate
for twenty (20) years from the date of this Agreement.

 

ARTICLE 12.MISCELLANEOUS PROVISIONS

 

12.1. Notices.
All notices and communications provided for herein, or given in connection herewith, shall be validly made if in writing and delivered
personally or sent by registered or certified United States Postal Service mail, return receipt requested, postage prepaid to:

 

	 	If to the City:	Ralph Velez, City Manager

P.O. Box 1170 1090 Union St.

San Luis, Arizona, 85349

	 	 	 
	 	If to the Developer: 	Ron Pickett

        President

        Solar Wind Energy Tower, Inc.

        1997 Annapolis Exchange Parkway

        Suite 300

        Annapolis, Maryland 21401 

	 	 	 

 

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or to such other addresses as either party may from time to time
designate in writing and deliver in a like manner. Any such change of address notice shall be given at least ten (10) days before
the date on which the change is to become effective. Notices given by mail shall be deemed delivered 72 hours following deposit
in the United States Postal Service in the manner set forth above.

 

12.2. Waiver. No
delay in exercising any right or remedy shall constitute a waiver thereof, and no waiver by the parties of the breach of any provision
of this Agreement shall be construed as a waiver of any preceding or succeeding breach of the same or of any other provision of
this Agreement.

 

12.3. Headings.
The descriptive headings of the paragraphs of this Agreement are inserted for convenience only, and shall not control or affect
the meaning or construction of any of the provisions of the Agreement.

 

12.4. Authority.
The undersigned represent to each other that they have full power and authority to enter into this Agreement, and that all necessary
actions have been taken to give full force and effect to this Agreement. The Developer represents and warrants that it is duly
formed and validly existing and is in good standing under applicable state laws. The Developer and the City warrant to each other
that the individuals executing this Agreement on behalf of their respective parties are authorized and empowered to bind the party
on whose behalf each individual is signing. The Developer represents to the City that by entering into this Agreement, the Developer
has bound the Property and all persons and entities having any legal or equitable interest therein to the terms of the Agreement.

 

12.5. Entire Agreement.
This Agreement, including the following exhibits, constitutes the entire agreement between the parties. This provision applies
only to the entirety of this Agreement only; additional and separate zoning stipulations and agreements with the City may apply
to the Property, and this provision has no effect on them.

 

Exhibit A          Legal Description of Property

Exhibit B          Schedule of Performance

Exhibit C          Conceptual Plan

 

12.6. Amendment of the
Agreement. This Agreement may be amended, in whole or in part and with respect to all or any portion of the Property, only
with the mutual written consent of the parties to this Agreement or by their successors in interest or assigns. The City shall
record the amendment or cancellation in the official records of the Yuma County Recorder.

 

12.7. Severability.
If any other provision of the Agreement is declared void or unenforceable, such provision shall be severed from this Agreement,
which shall otherwise remain in full force and effect.

 

12.8. Governing
Law. The laws of the State of Arizona shall govern the interpretation and enforcement of this Agreement. The parties
agree that the jurisdiction and venue for any action commenced in connection with this Agreement shall be proper only in a
court of competent jurisdiction located in Yuma County, Arizona, and the parties hereby waive any right to object to such
jurisdiction and venue. This agreement shall be subject to the provisions of A.R.S. §38-511.

 

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12.9. Recordation of Agreement and Subsequent
Amendment; Cancellation. This Agreement, and any amendment or cancellation of it shall be recorded in the official records
of the Yuma County Recorder no later than ten (10) days after the City and the Developer execute such agreement, amendment, or
cancellation, as required by A.R.S. § 9-500.05.

 

12.10. Attorneys' Fees
and Costs. If either party brings a legal action either because of a breach of this Agreement or to enforce a provision of
this Agreement, the prevailing party will be entitled to reasonable attorneys' fees and court costs.

 

12.11. Notice of Conveyance
or Assignment. The Developer shall give notice to the City of any sale of the entire Property at least ten (10) days prior
to the effective date of the sale.

 

12.12. No Third-Party
Beneficiaries. There are no third-party beneficiaries to this Agreement, and no person or entity not a party hereto shall have
any right or cause of action hereunder.

 

12.13. No Agency Created.
Nothing contained in this Agreement shall create any partnership, joint venture, or agency relationship between the parties.

 

12.14. Non-Liability
of City Officials and Employees. Except for mandamus and other special actions, no member, official or employee of the City
shall be personally liable to Developer, or any successor in interest, in the event of any default or breach by the City or for
any amount that may become due to the Developer or successor, or under any obligation under the terms of this Agreement.

 

12.15. Successors and
Assigns. The City agrees Developer upon written notice to the City may transfer or assign its rights and obligations under
this Agreement to another entity or entities and Developer's successors and assigns shall be entitled to the rights granted to
Developer herein and for performance of the Developer's obligations as set forth herein.

 

IN WITNESS WHEREOF, the
parties have executed this Agreement as of the day and year first above written.

 

 

 

 

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	STATE OF ARIZONA	}
	 	} SS.
	County of YUMA	}

 

 

The foregoing instrument was acknowledged before me this 23rd day of April, 2014, by Gerardo Sanchez,
Mayor of the City of San Luis, Arizona, a municipal corporation.

 

	 	/s/ Angelica Cifuentes
	 	Notary Public
	 	[seal]

 

My commission expires: 05/11/15

 

 

 

 

	STATE OF ARIZONA	}
	 	} SS.
	County of YUMA	}

 

 

The foregoing instrument was acknowledged before me this 23rd day of April, 2014, by Ron Rickett,
President, on behalf on Solar Wind Energy Tower, Inc., a Nevada corporation

 

	 	/s/ Angelica Cifuentes
	 	Notary Public
	 	[seal]

 

My commission expires: 05/11/15

 

 

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EXHIBIT A

 

Section 13,
Township 11 South, Range 24 West, Gila and Salt River Base and Meridian, Official
Records of Yuma County, Arizona, consisting of approximately 640 acres

 

 

 

 

 

 

 

    	13

    	 

    

 

Schedule of Performance

 

Solar Wind Energy Tower, Inc. Project

 

San Luis, Arizona

 

DEVELOPMENT SCHEDULE OF DEVELOPER

 

PRECONSTRUCTION PHASE 12 to 36 months following approval of Development
and Protected Development Rights Agreement.

 

		·	Perform on-site cultural cultural assessment, if applicable

		·	Perform on-site environmental & habitat assessment, if applicable

		·	Complete National Environmental Policy Act (NEPA) Environmental Impact Statement, if applicable

		·	Conduct sub-surface geological testing, if applicable

		·	Complete final site plan

		·	Prepare site: including onsite & offsite grading, utilities and paving

		·	Commence construction

 

INITIAL CONSTRUCTION PHASE 12-18 months following Preconstruction
Phase

 

		·	Complete site work and construct support facilities, including but not limited to roadways, parking areas, and utility lines
needed for construction of Tower purposes

		·	Complete Tower foundation

 

TOWER CONSTRUCTION PHASE 18-24 months following Initial Construction
Phase Complete Tower base and wind tunnels

 

		·	Complete Tower

		·	Install Equipment

		·	Complete grid connection

		·	Complete all roads, including development of County 24th and Avenue D improvements driveways, parking areas, walls,
landscaping, support buildings and other structures for the operation of the Facility

 

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COMMISSIONING AND START UP PHASE 6-9 months following completion
of construction

 

SCHEDULE OF GOVERNMENTAL APPROVALS

 

1)City agrees to timely and expeditiously process any application
for rezoning and/or a conditional use permit for the Developer's Project. Developer agrees to pay all application and advertising
costs associated with any rezoning and/or conditional use permit.

 

2)City agrees to timely and expeditiously process any building
or developmental permit applications submitted to the City for the Developer's Project. Developer agrees to pay all fees and costs
associated with the review and processing of such permit applications including the payment of outside consultants retained by
the City.

 

 

 

 

 

 

 

 

 

 

 

    	15EX-4.1

 Exhibit 4.1 

Execution Version 
 PASS THROUGH
TRUST AGREEMENT 
 Dated as of September 16, 2014 

between 
 AMERICAN AIRLINES, INC.

 and 
 WILMINGTON TRUST
COMPANY 
 as Trustee 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	PAGE	 
	ARTICLE I.	  
	DEFINITIONS	  
			
	Section 1.01	 	 Definitions
	  	 	2	  
	Section 1.02	 	 Compliance Certificates and Opinions
	  	 	12	  
	Section 1.03	 	 Form of Documents Delivered to Trustee
	  	 	12	  
	Section 1.04	 	 Directions of Certificateholders
	  	 	13	  
	
	ARTICLE II.	  
	ORIGINAL ISSUANCE OF CERTIFICATES;	  
	ACQUISITION OF TRUST PROPERTY	  
			
	Section 2.01	 	 Amount Unlimited; Issuable in Series
	  	 	14	  
	Section 2.02	 	 Acquisition of Equipment Notes
	  	 	17	  
	Section 2.03	 	 Acceptance by Trustee
	  	 	19	  
	Section 2.04	 	 Limitation of Powers
	  	 	19	  
	
	ARTICLE III.	  
	THE CERTIFICATES	  
			
	Section 3.01	 	 Form, Denomination and Execution of Certificates
	  	 	19	  
	Section 3.02	 	 Authentication of Certificates
	  	 	20	  
	Section 3.03	 	 Temporary Certificates
	  	 	20	  
	Section 3.04	 	 Transfer and Exchange
	  	 	21	  
	Section 3.05	 	 Book-Entry and Definitive Certificates
	  	 	21	  
	Section 3.06	 	 Mutilated, Destroyed, Lost or Stolen Certificates
	  	 	23	  
	Section 3.07	 	 Persons Deemed Owners
	  	 	24	  
	Section 3.08	 	 Cancellation
	  	 	24	  
	Section 3.09	 	 Limitation of Liability for Payments
	  	 	24	  
	Section 3.10	 	 CUSIP Numbers
	  	 	25	  
	
	ARTICLE IV.	  
	DISTRIBUTIONS; STATEMENTS TO CERTIFICATEHOLDERS	  
			
	Section 4.01	 	 Certificate Account and Special Payments Account
	  	 	25	  
	Section 4.02	 	 Distributions from Certificate Account and Special Payments Account
	  	 	26	  
	Section 4.03	 	 Statements to Certificateholders
	  	 	27	  
	Section 4.04	 	 Investment of Special Payment Moneys
	  	 	28	  
	
	ARTICLE V.	  
	THE COMPANY	  
	Section 5.01	 	 Maintenance of Corporate Existence
	  	 	28	  
	Section 5.02	 	 Consolidation, Merger, Etc.
	  	 	29	  

  
 i 

							
	
	ARTICLE VI.	  
	DEFAULT	  
			
	Section 6.01	 	 Indenture Events of Default and Triggering Events
	  	 	29	  
	Section 6.02	 	 Incidents of Sale of Equipment Notes
	  	 	31	  
	Section 6.03	 	 Judicial Proceedings Instituted by Trustee; Trustee May Bring Suit
	  	 	31	  
	Section 6.04	 	 Control by Certificateholders
	  	 	32	  
	Section 6.05	 	 Waiver of Past Defaults
	  	 	32	  
	Section 6.06	 	 Right of Certificateholders to Receive Payments Not to Be Impaired
	  	 	33	  
	Section 6.07	 	 Certificateholders May Not Bring Suit Except Under Certain Conditions
	  	 	33	  
	Section 6.08	 	 Remedies Cumulative
	  	 	34	  
	Section 6.09	 	 Discontinuance of Proceedings
	  	 	34	  
	Section 6.10	 	 Undertaking for Costs
	  	 	34	  
	
	ARTICLE VII.	  
	THE TRUSTEE	  
			
	Section 7.01	 	 Certain Duties and Responsibilities
	  	 	35	  
	Section 7.02	 	 Notice of Defaults
	  	 	35	  
	Section 7.03	 	 Certain Rights of Trustee
	  	 	36	  
	Section 7.04	 	 Not Responsible for Recitals or Issuance of Certificates
	  	 	37	  
	Section 7.05	 	 May Hold Certificates
	  	 	37	  
	Section 7.06	 	 Money Held in Trust
	  	 	37	  
	Section 7.07	 	 Compensation and Reimbursement
	  	 	37	  
	Section 7.08	 	 Corporate Trustee Required; Eligibility
	  	 	38	  
	Section 7.09	 	 Resignation and Removal; Appointment of Successor
	  	 	39	  
	Section 7.10	 	 Acceptance of Appointment by Successor
	  	 	40	  
	Section 7.11	 	 Merger, Conversion, Consolidation or Succession to Business
	  	 	41	  
	Section 7.12	 	 Maintenance of Agencies
	  	 	41	  
	Section 7.13	 	 Money for Certificate Payments to Be Held in Trust
	  	 	43	  
	Section 7.14	 	 Registration of Equipment Notes in Trustee’s Name
	  	 	43	  
	Section 7.15	 	 Representations and Warranties of Trustee
	  	 	43	  
	Section 7.16	 	 Withholding Taxes; Information Reporting
	  	 	44	  
	Section 7.17	 	 Trustee’s Liens
	  	 	45	  
	Section 7.18	 	 Preferential Collection of Claims
	  	 	45	  
	Section 7.19	 	 Capacity in Which Acting
	  	 	45	  
	
	ARTICLE VIII.	  
	CERTIFICATEHOLDERS’ LISTS AND REPORTS BY TRUSTEE	  
			
	Section 8.01	 	 The Company to Furnish Trustee with Names and Addresses of Certificateholders
	  	 	45	  
	Section 8.02	 	 Preservation of Information; Communications to Certificateholders
	  	 	45	  
	Section 8.03	 	 Reports by Trustee
	  	 	46	  
	Section 8.04	 	 Reports by the Company
	  	 	46	  

  
 ii 

							
	
	ARTICLE IX.	  
	SUPPLEMENTAL AGREEMENTS	  
			
	Section 9.01	 	 Supplemental Agreements Without Consent of Certificateholders
	  	 	47	  
	Section 9.02	 	 Supplemental Agreements with Consent of Certificateholders
	  	 	49	  
	Section 9.03	 	 Documents Affecting Immunity or Indemnity
	  	 	50	  
	Section 9.04	 	 Execution of Supplemental Agreements
	  	 	50	  
	Section 9.05	 	 Effect of Supplemental Agreements
	  	 	50	  
	Section 9.06	 	 Conformity with Trust Indenture Act
	  	 	50	  
	Section 9.07	 	 Reference in Certificates to Supplemental Agreements
	  	 	50	  
	
	ARTICLE X.	  
	AMENDMENTS TO INDENTURES AND OTHER NOTE DOCUMENTS	  
			
	Section 10.01	 	 Amendments and Supplements to Indentures and Other Note Documents
	  	 	50	  
	
	ARTICLE XI.	  
	TERMINATION OF TRUSTS	  
			
	Section 11.01	 	 Termination of the Trusts
	  	 	51	  
	
	ARTICLE XII.	  
	MISCELLANEOUS PROVISIONS	  
			
	Section 12.01	 	 Limitation on Rights of Certificateholders
	  	 	52	  
	Section 12.02	 	 Certificates Nonassessable and Fully Paid
	  	 	53	  
	Section 12.03	 	 Registration of Equipment Notes in Name of Subordination Agent
	  	 	53	  
	Section 12.04	 	 Notices
	  	 	53	  
	Section 12.05	 	 Governing Law
	  	 	54	  
	Section 12.06	 	 Severability of Provisions
	  	 	54	  
	Section 12.07	 	 Trust Indenture Act Controls
	  	 	54	  
	Section 12.08	 	 Effect of Headings and Table of Contents
	  	 	55	  
	Section 12.09	 	 Successors and Assigns
	  	 	55	  
	Section 12.10	 	 Benefits of Agreement
	  	 	55	  
	Section 12.11	 	 Legal Holidays
	  	 	55	  
	Section 12.12	 	 Counterparts
	  	 	55	  
	Section 12.13	 	 Communication by Certificateholders with Other Certificateholders
	  	 	55	  
	Section 12.14	 	 Normal Commercial Relations
	  	 	55	  
	Section 12.15	 	 No Recourse Against Others
	  	 	56	  

  
 iii 

 Reconciliation and tie between American Airlines Pass Through Trust Agreement, dated as of September 16,
2014 and the Trust Indenture Act of 1939. This reconciliation does not constitute part of the Pass Through Trust Agreement. 
  

							
	 Trust Indenture Act of 1939 Section
	  	Pass Through Trust Agreement Section	 
	 310(a)(1)
	 		  	 	7.08	  
	 (a)(2)
	 		  	 	7.08	  
	 312(a)
	 		  	 	7.12; 8.01; 8.02	  
	 313(a)
	 		  	 	8.03	  
	 313(b)
	 		  	 	8.03	  
	 314(a)(1)-(3)
	 		  	 	8.04(a)-(c)	  
	 (a)(4)
	 		  	 	8.04(d)	  
	 (c)(1)
	 		  	 	1.02	  
	 (c)(2)
	 		  	 	1.02	  
	 (d)(1)
	 		  	 	1.02; 7.13; 11.01	  
	 (d)(2)
	 		  	 	1.02; 7.13; 11.01	  
	 (d)(3)
	 		  	 	1.02; 2.01	  
	 (e)
	 		  	 	1.02	  
	 315(b)
	 		  	 	7.02	  
	 315(c)
	 		  	 	7.01(b)	  
	 316(a)(last sentence)
	 		  	 	1.04(c)	  
	 (a)(1)(A)
	 		  	 	6.04	  
	 (a)(1)(B)
	 		  	 	6.05	  
	 (b)
	 		  	 	6.06	  
	 (c)
	 		  	 	1.04(d)	  
	 317(a)(1)
	 		  	 	6.03	  
	 (b)
	 		  	 	7.13	  
	 318(a)
	 		  	 	12.07	  

  
 iv 

 PASS THROUGH TRUST AGREEMENT 

This PASS THROUGH TRUST AGREEMENT, dated as of September 16, 2014 (the “Basic Agreement”), between American Airlines, Inc., a
Delaware corporation, and Wilmington Trust Company, a Delaware trust company, as Trustee, is made with respect to the formation from time to time of separate American Airlines Pass Through Trusts, and the issuance from time to time of separate
series of Pass Through Certificates representing fractional undivided interests in the respective Trusts. 
 WITNESSETH: 

WHEREAS, from time to time, the Company and the Trustee may enter into one or more Trust Supplements (this and certain other defined terms
used herein are defined in Section 1.01) pursuant to which the Trustee shall declare the creation of a separate Trust for the benefit of the Holders of the series of Certificates to be issued in respect of such Trust, and the initial Holders of
the Certificates of such series, as the grantors of such Trust, by their respective acceptances of the Certificates of such series, shall join in the creation of such Trust with the Trustee; 

WHEREAS, all Certificates to be issued in respect of each separate Trust will be issued as a separate series pursuant to this Agreement, will
evidence fractional undivided interests in such Trust and will have no rights, benefits or interests in respect of any other separate Trust or the property held therein, subject, however, to the provisions of any Intercreditor Agreement to which one
or more Trusts may be a party and to any provisions to the contrary in any applicable Trust Supplement; 
 WHEREAS, from time to time,
pursuant to the terms and conditions of this Agreement with respect to each separate Trust formed hereunder, the Trustee on behalf of such Trust shall purchase one or more issues of Equipment Notes, or notes issued by a separate trust or other
entity secured by Equipment Notes, having the identical interest rate as, and final maturity dates not later than the final Regular Distribution Date of, the series of Certificates issued in respect of such Trust and, subject to the terms of any
related Intercreditor Agreement and to any terms to the contrary in any applicable Trust Supplement, shall hold such Equipment Notes in trust for the benefit of the Certificateholders of such Trust; 

WHEREAS, to facilitate the sale of Equipment Notes to, and the purchase of Equipment Notes by, the Trustee on behalf of each Trust created
from time to time pursuant to this Agreement, the Company as the “issuer”, as such term is defined in and solely for purposes of the Securities Act, of the Certificates to be issued in respect of each Trust and as the “obligor”,
as such term is defined in and solely for purposes of the Trust Indenture Act, has duly authorized the execution and delivery of this Basic Agreement and is undertaking to perform certain administrative and ministerial duties hereunder and is also
undertaking to pay the fees and expenses of the Trustee; and 
 WHEREAS, this Agreement, as supplemented from time to time, is subject to
the provisions of the Trust Indenture Act and shall, to the extent applicable, be governed by such provisions; 

  
 1 

 NOW, THEREFORE, in consideration of the mutual agreements herein contained, and of other good and
valuable consideration the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I. 

DEFINITIONS 
 Section 1.01
Definitions. For all purposes of this Basic Agreement, except as otherwise expressly provided or unless the context otherwise requires: 

(1) the terms used herein that are defined in this Article I have the meanings assigned to them in this Article I, and include
the plural as well as the singular; 
 (2) all other terms used herein that are defined in the Trust Indenture Act, either
directly or by reference therein, or by the rules promulgated under the Trust Indenture Act, have the meanings assigned to them therein; 

(3) all references in this Basic Agreement to designated “Articles”, “Sections”, “Subsections”
and other subdivisions are to the designated Articles, Sections, Subsections and other subdivisions of this Basic Agreement; 

(4) the words “herein”, “hereof” and “hereunder” and other words of similar import refer to this
Basic Agreement as a whole and not to any particular Article, Section, Subsection or other subdivision; 
 (5) unless the
context otherwise requires, whenever the words “including”, “include” or “includes” are used herein, it shall be deemed to be followed by the phrase “without limitation”; and 

(6) the term “this Agreement” (as distinguished from “this Basic Agreement”) refers, unless the context
otherwise requires, to this Basic Agreement as supplemented by the Trust Supplement creating a particular Trust and establishing the series of Certificates issued or to be issued in respect thereof, with reference to such Trust and such series of
Certificates, as this Basic Agreement as so supplemented may be further supplemented with respect to such Trust and such series of Certificates. 

Act: Has the meaning, with respect to any Certificateholder, specified in Section 1.04(a). 

Affiliate: Means, with respect to any specified Person, any other Person directly or indirectly controlling or controlled by or
under direct or indirect common control with such Person. For the purposes of this definition, “control”, when used with respect to any specified Person, means the power, directly or indirectly, to direct the management and policies of
such Person, whether through the ownership of voting securities or by contract or otherwise, and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

  
 2 

 Agreement: Has the meaning specified in Section 1.01(6). 

Aircraft: Means one or more aircraft, including engines therefor, owned by or leased to the Company and securing one or more
Equipment Notes. 
 Authorized Agent: Means, with respect to the Certificates of any series, any Paying Agent or Registrar
for the Certificates of such series. 
 Avoidable Tax: Has the meaning specified in Section 7.09(e). 

Basic Agreement: Means this Pass Through Trust Agreement, as the same may from time to time be supplemented, amended or
modified, but does not include any Trust Supplement. 
 Book-Entry Certificates: Means, with respect to the Certificates of
any series, Certificates of such series ownership and transfers of which shall be made through book entries as described in Section 3.05. 

Business Day: Means, with respect to the Certificates of any series, any day other than a Saturday, a Sunday or a day on which
commercial banks are required or authorized to close in New York, New York, Dallas, Texas, or, so long as any Certificate of such series is outstanding, the city and state in which the Trustee or any related Loan Trustee maintains its Corporate
Trust Office or receives and disburses funds. 
 Certificate: Means any one of the certificates executed and authenticated by
the Trustee, substantially in the form specified in the relevant Trust Supplement. 
 Certificate Account: Means, with
respect to the Certificates of any series, the account or accounts created and maintained for such series pursuant to Section 4.01(a) and the related Trust Supplement. 

Certificateholder or Holder: Means, with respect to the Certificates of any series, a Person in whose name a Certificate of
such series is registered in the Register for Certificates of such series. 
 Certificate Owner: Means, with respect to the
Certificates of any series, for purposes of Section 3.05, a Person who owns a Book-Entry Certificate of such series. 

Clearing Agency: Means an organization registered as a “clearing agency” pursuant to Section 17A of the
Securities Exchange Act of 1934, as amended. 
 Clearing Agency Participant: Means a broker, dealer, bank, other financial
institution or other Person for whom from time to time a Clearing Agency effects, directly or indirectly, book-entry transfers and pledges of securities deposited with the Clearing Agency. 

Company: Means American Airlines, Inc., a Delaware corporation, or its successor in interest pursuant to Section 5.02.

  
 3 

 Controlling Party: Means, with respect to the Certificates of any series, the
Person entitled to act as such pursuant to the terms of the related Intercreditor Agreement. 
 Corporate Trust Office:
Means, with respect to the Trustee or any Loan Trustee, the office of such trustee in the city at which at any particular time its corporate trust business shall be principally administered. 

Cut-off Date: Means, with respect to the Certificates of any series, the date designated as such in the Trust Supplement
establishing such series. 
 Definitive Certificates: Has the meaning, with respect to the Certificates of any series,
specified in Section 3.05(a). 
 Direction: Has the meaning specified in Section 1.04(a). 

Distribution Date: Means any Regular Distribution Date, Special Distribution Date or Initial Regular Distribution Date. 

Equipment Note: Means, with respect to any Trust, any one of the notes, certificates or instruments issued pursuant to any
Indenture and described as “Equipment Notes” in, or on a schedule attached to, the Trust Supplement in respect of such Trust and to be held by the Trustee as part of such Trust, including any Equipment Note (as so defined) issued under the
applicable Indenture in replacement thereof or substitution therefor. 
 ERISA: Means the Employee Retirement Income Security
Act of 1974, as amended from time to time, or any successor federal statute. 
 Escrow Account: Has the meaning, with respect
to any Trust, specified in Section 2.02(b). 
 Escrowed Funds: Has the meaning, with respect to any Trust, specified in
Section 2.02(b). 
 Event of Default: Means, in respect of any Trust, an Indenture Event of Default under any Indenture
pursuant to which Equipment Notes held by such Trust were issued and such other event as may be designated under the related Trust Supplement as an “Event of Default”. 

Fractional Undivided Interest: Means the fractional undivided interest in a Trust that is evidenced by a Certificate relating
to such Trust. 
 Holder: Has the meaning specified in the definition of “Certificateholder or Holder”. 

Indenture: Means, with respect to any Trust, each of the one or more separate trust indenture and security agreements or trust
indenture and mortgages or similar documents described in, or on a schedule attached to, the Trust Supplement and an indenture having 

  
 4 

 
substantially the same terms and conditions which relates to a Substitute Aircraft, as each such indenture may be amended or supplemented in accordance with its respective terms; and
“Indentures” means all of such agreements. 
 Indenture Event of Default: Means, with respect to any Indenture, any
Event of Default (as such term is defined in such Indenture). 
 Initial Regular Distribution Date: Means, with respect to
the Certificates of any series, the first Regular Distribution Date on which a Scheduled Payment is to be made. 

Intercreditor Agreement: Means (a) any agreement by and among the Trustee, as trustee with respect to one or more Trusts,
one or more Liquidity Providers, if applicable, and a Subordination Agent providing, among other things, for the distribution of payments made in respect of Equipment Notes held by such Trusts, or (b) such other agreement or agreements
designated as an “Intercreditor Agreement” in the Trust Supplement relating to any Trust. 
 Issuance Date: Means,
with respect to the Certificates of any series, the date of the issuance of such Certificates. 
 Lease: Means any lease
between an Owner Trustee, as the lessor (or such other Person acting as the lessor), and the Company, as the lessee, referred to in the related Indenture, as such lease may be amended, supplemented or otherwise modified in accordance with its terms;
and “Leases” means all such Leases. 
 Letter of Representations: Means, with respect to the Certificates of any
series, an agreement among the Company, the Trustee and the initial Clearing Agency substantially in the form attached as an Exhibit to the related Trust Supplement, as such letter may be modified or supplemented, or any successor letter thereto.

 Liquidity Facility: Means, with respect to the Certificates of any series or any Equipment Notes, (a) any revolving
credit agreement, letter of credit, bank guarantee, insurance policy, surety bond or financial guaranty or any other type of agreement or arrangement for the provision of insurance, a guarantee or other credit enhancement or liquidity support
relating to the Certificates of such series between a Liquidity Provider and a Subordination Agent or one or more other Persons, as amended, replaced, supplemented or otherwise modified from time to time in accordance with its terms and, if
applicable, the terms of any Intercreditor Agreement, or (b) such other agreement or agreements designated as a “Liquidity Facility” in the Trust Supplement relating to any Trust. 

Liquidity Provider: Means, with respect to the Certificates of any series, a bank, insurance company, financial institution or
other Person that agrees to provide a Liquidity Facility for the benefit of the holders of Certificates of such series. 

Loan Trustee: Means, with respect to any Equipment Note or the Indenture applicable thereto, the bank, trust company or other
financial institution designated as loan or indenture trustee under such Indenture, and any successor to such Loan Trustee as such trustee; and “Loan Trustees” means all of the Loan Trustees under the Indentures. 

  
 5 

 Note Documents: Means, with respect to the Certificates of any series, the
Equipment Notes with respect to such Certificates and, with respect to such Equipment Notes, the related Indenture, Note Purchase Agreement, and, if the related Aircraft is leased to the Company, the related Lease and the related Purchase Agreement
Assignment (as defined in the related Lease), if any, and, if the Parent has guaranteed the obligations of the Company under any such Equipment Notes or Leases, the Parent Guarantee. 

Note Purchase Agreement: Means, with respect to the Certificates of any series, any note purchase, refunding, participation or
similar agreement providing for, among other things, the purchase of Equipment Notes by the Trustee on behalf of the relevant Trust; and “Note Purchase Agreements” means all such agreements. 

Officer’s Certificate: Means a certificate signed, (a) in the case of the Company, by the Chairman or Vice Chairman
of the Board of Directors, the President, any Executive Vice President, any Senior Vice President, any Vice President or the Treasurer of the Company or (b) in the case of the Trustee or an Owner Trustee or a Loan Trustee, a Responsible Officer
of the Trustee or such Owner Trustee or such Loan Trustee, as the case may be. 
 Opinion of Counsel: Means a written opinion
of legal counsel who (a) in the case of counsel for the Company may be (i) a senior attorney of the Company one of whose principal duties is furnishing advice as to legal matters, (ii) Latham & Watkins, LLP or (iii) such
other counsel designated by the Company and reasonably acceptable to the Trustee and (b) in the case of any Owner Trustee or any Loan Trustee, such counsel as they may designate, whether or not such counsel is an employee of any of them, and
who shall be reasonably acceptable to the Trustee. 
 Outstanding: When used with respect to Certificates of any series,
means, as of the date of determination, all Certificates of such series theretofore authenticated and delivered under this Agreement, except: 

(i) Certificates of such series theretofore cancelled by the Registrar or delivered to the Trustee or the Registrar for
cancellation; 
 (ii) all of the Certificates of such series if money in the full amount required to make the final
distribution with respect to such series pursuant to Section 11.01 hereof has been theretofore deposited with the Trustee in trust for the Holders of the Certificates of such series as provided in Section 4.01, pending distribution of such
money to such Certificateholders pursuant to payment of such final distribution payment; and 
 (iii) Certificates of such
series in exchange for or in lieu of which other Certificates of such series have been authenticated and delivered pursuant to this Agreement. 

  
 6 

 Owner Participant: Means, with respect to any Equipment Note, the “Owner
Participant”, if any, as referred to in the Indenture pursuant to which such Equipment Note is issued and any permitted successor or assign of such Owner Participant; and “Owner Participants” at any time of determination means all of
the Owner Participants thus referred to in the Indentures. 
 Owner Trustee: Means, with respect to any Equipment Note, the
“Owner Trustee”, if any, as referred to in the Indenture pursuant to which such Equipment Note is issued, not in its individual capacity but solely as trustee; and “Owner Trustees” means all of the Owner Trustees party to any of
the related Indentures. 
 Parent: Means American Airlines Group, Inc., a Delaware corporation, or any other Person that
directly or indirectly controls the Company, in each case together with its successors and assigns. For the purposes of this definition, “control” means the power, directly or indirectly, to direct or cause the direction of the management
and policies of the Company, whether through the ownership of voting securities or by contract or otherwise. 
 Parent
Guarantee: Means, with respect to the Certificates of any series, a guarantee by the Parent of the obligations of the Company under any Equipment Notes or any Leases related to Equipment Notes to be acquired and held in the Trust as to which the
Certificates of such series represent fractional undivided interests. 
 Paying Agent: Means, with respect to the
Certificates of any series, the paying agent maintained and appointed for the Certificates of such series pursuant to Section 7.12. 

Permitted Investments: Means obligations of the United States of America or agencies or instrumentalities thereof for the
payment of which the full faith and credit of the United States of America is pledged, maturing in not more than 60 days after the date of acquisition thereof or such lesser time as is required for the distribution of any Special Payments on a
Special Distribution Date. 
 Person: Means any person, including any individual, corporation, limited liability company,
partnership, joint venture, association, joint-stock company, trust, trustee, unincorporated organization, or government or any agency or political subdivision thereof. 

Pool Balance: Means, with respect to the Certificates of any series as of any date, except to the extent otherwise provided in
the applicable Trust Supplements, (i) the original aggregate face amount of the Certificates of such series less (ii) the aggregate amount of all distributions made in respect of such Certificates other than distributions made in respect
of interest or premium or reimbursement of any costs or expenses incurred in connection therewith. The Pool Balance as of any Regular Distribution Date or Special Distribution Date with respect to such series shall be computed after giving effect to
the payment of principal, if any, on the Equipment Notes or other Trust Property held in the Trust and the distribution thereof to be made on such date. 

  
 7 

 Pool Factor: Means, with respect to any series of Certificates as of any date,
except to the extent otherwise provided in the applicable Trust Supplement, the quotient (rounded to the seventh decimal place, with 0.00000005 being rounded upward) computed by dividing (i) the Pool Balance of such series as of such date by
(ii) the original aggregate face amount of the Certificates of such series. The Pool Factor as of any Regular Distribution Date or Special Distribution Date with respect to such series shall be computed after giving effect to the payment of
principal, if any, on the Equipment Notes or other Trust Property held in the Trust relating to such series and the distribution thereof to be made on such date. 

Postponed Notes: Means, with respect to any Trust or the related series of Certificates, the Equipment Notes to be held in such
Trust as to which a Postponement Notice shall have been delivered pursuant to Section 2.02(b). 
 Postponement Notice:
Means, with respect to any Trust or the related series of Certificates, an Officer’s Certificate of the Company (i) requesting that the Trustee temporarily postpone purchase of the related Equipment Notes to a date later than the Issuance
Date of such series of Certificates, (ii) identifying the amount of the purchase price of each such Equipment Note and the aggregate purchase price for all such Equipment Notes, (iii) setting forth the reasons for such postponement and
(iv) with respect to each such Equipment Note, either (a) setting or resetting a new Transfer Date (which shall be on or prior to the applicable Cut-off Date) for payment by the Trustee of such purchase price and issuance of the related
Equipment Note (subject to subsequent change from time to time in accordance with the relevant Note Purchase Agreement), or (b) indicating that such new Transfer Date (which shall be on or prior to the applicable Cut-off Date) will be set by
subsequent written notice not less than one Business Day prior to such new Transfer Date (subject to subsequent change from time to time in accordance with the relevant Note Purchase Agreement). 

Potential Purchaser: Has the meaning, with respect to any Certificateholder, specified in Section 6.01(d). 

Purchasing Certificateholder: Has the meaning, with respect to any Certificateholder, specified in Section 6.01(d). 

Rating Agency: Has the meaning specified in the Intercreditor Agreement. 

Record Date: Means, with respect to any Trust or the related series of Certificates, (i) for Scheduled Payments to be
distributed on any Regular Distribution Date, other than the final distribution with respect to such series, the 15th day (whether or not a Business Day) preceding such Regular Distribution Date, or such other date as shall be specified for such
series in the applicable Trust Supplement, and (ii) for Special Payments to be distributed on any Special Distribution Date, other than the final distribution with respect to such series, the 15th day (whether or not a Business Day) preceding
such Special Distribution Date, or such other date as shall be specified for such series in the applicable Trust Supplement. 

  
 8 

 Register: Has the meaning, with respect to the Certificates of any series,
specified in Section 3.04. 
 Registrar: Has the meaning, with respect to the Certificates of any series, specified in
Section 3.04 and includes the registrar appointed pursuant to Sections 3.04 and 7.12. 
 Regular Distribution Date:
Means, with respect to distributions of Scheduled Payments in respect of any series of Certificates, each date designated as such in this Agreement, until payment of all the Scheduled Payments to be made under the Equipment Notes held in the Trust
have been made or until such Equipment Notes have been redeemed or otherwise prepaid in full. 
 Request: Means a request by
the Company setting forth the subject matter of the request accompanied by an Officer’s Certificate and an Opinion of Counsel as provided in Section 1.02 of this Basic Agreement. 

Responsible Officer: Means, with respect to any Trustee, any Loan Trustee and any Owner Trustee, any officer in the Corporate
Trust Department or similar department of the Trustee, such Loan Trustee or such Owner Trustee, as the case may be, or any other officer customarily performing functions similar to those performed by the persons who at the time shall be such
officers or to whom any corporate trust matter is referred because of his knowledge of and familiarity with a particular subject. 

Responsible Party: Means, with respect to the Certificates of any series, the Company or the other Person designated as such in
the related Trust Supplement. 
 Scheduled Payment: Means, with respect to any Equipment Note, except to the extent otherwise
provided in the applicable Trust Supplement, (i) any payment of principal or interest on such Equipment Note (other than any such payment which is not in fact received by the Trustee or the applicable Subordination Agent within five days after
the date on which such payment is scheduled to be made) or (ii) any distribution in respect of principal or interest on such Equipment Note to the Holders of the Certificates of any series with funds drawn under the Liquidity Facility for such
series (other than any such payment which is not in fact received by the Trustee or the applicable Subordination Agent within five days after the date upon which payment is scheduled to be made), which payment in the case of clause (i) or
clause (ii) represents an installment of principal on such Equipment Note at the stated maturity of such installment, or the payment of regularly scheduled interest accrued on the unpaid principal amount of such Equipment Note, or both;
provided, however, that any payment of principal, premium, if any, or interest resulting from the redemption or purchase of any Equipment Note shall not constitute a Scheduled Payment. 

SEC: Means the Securities and Exchange Commission, as from time to time constituted or created under the Securities Exchange
Act of 1934, as amended, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties on such date. 

  
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 Securities Act: Means the Securities Act of 1933, as amended. 

Selling Certificateholder: Has the meaning, with respect to any Certificateholder, specified in Section 6.01(d). 

Special Distribution Date: Means, with respect to the Certificates of any series, each date on which a Special Payment is to be
distributed as specified in this Agreement. 
 Special Payment: Means, except to the extent otherwise provided in the
applicable Trust Supplement, (i) any payment (other than a Scheduled Payment) in respect of, or any proceeds of, any Equipment Note held in a Trust or the Collateral or Trust Indenture Estate, as the case may be (in each case, as defined in
each Indenture relating to such Trust), (ii) the amounts required to be distributed pursuant to the last paragraph of Section 2.02(b), or (iii) the amounts required to be distributed pursuant to the penultimate paragraph of
Section 2.02(b). 
 Special Payments Account: Means, with respect to the Certificates of any series, the account or
accounts created and maintained for such series pursuant to Section 4.01(b) and the related Trust Supplement. 

Specified Investments: Means, with respect to any Trust, unless otherwise specified in the related Trust Supplement,
(i) obligations of the United States Government or agencies thereof, or obligations guaranteed by the United States Government, (ii) open market commercial paper of any corporation incorporated under the laws of the United States of
America or any State thereof rated at least P-2 or its equivalent by Moody’s Investors Service, Inc. or at least A-2 or its equivalent by Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC
business (including the Trustee if such conditions are met), (iii) certificates of deposit issued by commercial banks organized under the laws of the United States or of any political subdivision thereof having a combined capital and surplus in
excess of $500,000,000 which banks or their holding companies have a rating of A or its equivalent by Moody’s Investors Service, Inc. or A2 or its equivalent by Standard & Poor’s Ratings Services, a Standard & Poor’s
Financial Services LLC business (including the Trustee if such conditions are met); provided, however, that the aggregate amount at any one time so invested in certificates of deposit issued by any one bank shall not exceed 5% of such bank’s
capital and surplus, (iv) U.S. dollar denominated offshore certificates of deposit issued by, or offshore time deposits with, any commercial bank described in clause (iii) above or any subsidiary thereof, and (v) repurchase agreements
with any financial institution having combined capital and surplus of at least $500,000,000 (including the Trustee if such conditions are met) with any of the obligations described in clauses (i) through (iv) as collateral; provided
further that if all of the above investments are unavailable, the entire amounts to be invested may be used to purchase federal funds from an entity described in clause (iii) above; and provided further that no investment shall be eligible as a
“Specified Investment” unless the final maturity or date of return of 

  
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such investment is on or before the Special Distribution Date next following the Cut-off Date for such Trust by at least 15 days. The Trustee is hereby authorized, in making or disposing of any
investment described herein, to deal with itself (in its individual capacity) or with any one or more of its Affiliates, whether it or such Affiliate is acting as an agent of the Trustee or for any third person or dealing as principal for its own
account. 
 Subordination Agent: Has the meaning, with respect to the Certificates of any series, specified therefor in the
relevant Intercreditor Agreement. 
 Substitute Aircraft: Means, with respect to any Trust, any Aircraft of a type specified
in this Agreement and, at the election of the Company, substituted prior to the applicable Cut-off Date, if any, pursuant to the terms of this Agreement. 

Transfer Date: Has the meaning, with respect to the Certificates of any series, assigned to that term or any of the terms
“Delivery Date”, “Funding Date” or “Closing Date” in any relevant Note Purchase Agreement, and in any event refers to any such date as it may be changed from time to time in accordance with the terms of such Note
Purchase Agreement. 
 Triggering Event: Has the meaning, with respect to the Certificates of any series, specified therefor
in the relevant Intercreditor Agreement. 
 Trust: Means, with respect to the Certificates of any series, the separate trust
created under this Agreement. 
 Trust Indenture Act: Except as otherwise provided in Section 9.06, means, with respect
to any particular Trust, the Trust Indenture Act of 1939, as amended and in force at the date as of which the related Trust Supplement was executed. 

Trust Property: Means, with respect to any Trust, except to the extent otherwise provided in the applicable Trust Supplement,
(i) subject to any related Intercreditor Agreement, the Equipment Notes held as the property of such Trust, all monies at any time paid thereon and all monies due and to become due thereunder, (ii) debt instruments issued by the Company in
accordance with the first paragraph of Section 2.02(b), (iii) funds from time to time deposited in the related Escrow Account, the related Certificate Account and the related Special Payments Account and, subject to any related
Intercreditor Agreement, any proceeds from the sale by the Trustee pursuant to Article VI hereof of any Equipment Note referred to in clause (i) above, (iv) all rights of such Trust and the Trustee, on behalf of the Trust, under any
Intercreditor Agreement or Liquidity Facility, including, without limitation, all rights to receive all monies and other property payable thereunder, and (v) all monies or other property receivable under any Intercreditor Agreement or Liquidity
Facility for such Trust. 
 Trust Supplement: Means an agreement supplemental hereto pursuant to which (i) a separate
Trust is created for the benefit of the Holders of the Certificates of a series, (ii) the issuance of the Certificates of such series representing fractional undivided interests in such Trust is authorized and (iii) the terms of the
Certificates of such series are established, as such agreement may from time to time be supplemented, amended or otherwise modified. 

  
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 Trustee: Means, with respect to any particular Trust, the institution executing
this Agreement as the Trustee, or its successor in interest, and any successor or other trustee appointed as provided herein (it being understood that the same institution need not act as the Trustee in respect of all of the Trusts created pursuant
to this Basic Agreement and the Trust Supplements) , in each case, not in its individual capacity but solely as trustee under this Agreement. 

Trustee’s Liens: Has the meaning specified in Section 7.17. 

Section 1.02 Compliance Certificates and Opinions. Upon any application or request (except with respect to matters set forth in Article
II) by the Company, any Owner Trustee or any Loan Trustee to the Trustee to take any action under any provision of this Basic Agreement or, in respect of the Certificates of any series, this Agreement, the Company, such Owner Trustee or such Loan
Trustee, as the case may be, shall furnish to the Trustee (i) an Officer’s Certificate stating that, in the opinion of the signer or signers, all conditions precedent, if any, provided for in this Basic Agreement or this Agreement relating
to the proposed action have been complied with and (ii) an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request
as to which the furnishing of such documents is specifically required by any provision of this Basic Agreement or this Agreement relating to such particular application or request, no additional certificate or opinion need be furnished. Every
certificate or opinion with respect to compliance with a condition or covenant provided for in this Basic Agreement or, in respect of the Certificates of any series, this Agreement (other than a certificate provided pursuant to Section 8.04(d))
or any Trust Supplement shall include: 
 (1) a statement that each individual signing such certificate or opinion has read
such covenant or condition and the definitions in this Basic Agreement or this Agreement relating thereto; 
 (2) a brief
statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

(3) a statement that, in the opinion of each such individual, he has made such examination or investigation as is necessary to
enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (4)
a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 
 Section 1.03
Form of Documents Delivered to Trustee. In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion
of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an 
 opinion with respect to
some matters and one or more other such Persons as to other matters and any such Person may certify or give an opinion as to such matters in one or several documents. 

  
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 Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Basic Agreement or, in respect of the Certificates of any series, this Agreement, they may, but need not, be consolidated and form one instrument. 

Section 1.04 Directions of Certificateholders. (a) Any direction, consent, request, demand, authorization, notice, waiver or other
action provided by this Agreement or in respect of the Certificates of any series to be given or taken by Certificateholders (a “Direction”) may be embodied in and evidenced by one or more instruments of substantially similar tenor signed
by such Certificateholders in person or by an agent or proxy duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, when
it is expressly required pursuant to this Agreement, to the Company or any Loan Trustee. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the
Certificateholders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent or proxy shall be sufficient for any purpose of this Agreement and conclusive in favor of the Trustee, the
Company and the related Loan Trustee, if made in the manner provided in this Section 1.04. 
 (b) The fact and date of the execution by
any Person of any such instrument or writing may be proved by the certificate of any notary public or other officer of any jurisdiction authorized to take acknowledgments of deeds or administer oaths that the Person executing such instrument
acknowledged to him the execution thereof, or by an affidavit of a witness to such execution sworn to before any such notary or such other officer, and where such execution is by an officer of a corporation or association or a member of a
partnership, on behalf of such corporation, association or partnership, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of
the Person executing the same, may also be proved in any other reasonable manner which the Trustee deems sufficient. 
 (c) In determining
whether the Certificateholders of the requisite Fractional Undivided Interests of Certificates of any series Outstanding have given any Direction under this Agreement, Certificates owned by the Company, any related Owner Trustee, any related Owner
Participant or any Affiliate of any such Person shall be disregarded and deemed not to be Outstanding for purposes of any such determination. In determining whether the Trustee shall be protected in relying upon any such Direction, only Certificates
which the Trustee knows to be so owned shall be so disregarded. Notwithstanding the foregoing, (i) if any such Person owns 100% of the Certificates of any series Outstanding, such Certificates shall not be so disregarded, and (ii) if any
amount of Certificates of any series owned by any such Person have been pledged in good faith, such Certificates shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect
to such Certificates and that the pledgee is not the Company, any related Owner Trustee, any related Owner Participant or any Affiliate of any such Person. 

  
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 (d) The Company may, at its option, by delivery of an Officer’s Certificate to the Trustee,
set a record date to determine the Certificateholders in respect of the Certificates of any series entitled to give any Direction. Notwithstanding Section 316(c) of the Trust Indenture Act, such record date shall be the record date specified in
such Officer’s Certificate, which shall be a date not more than 30 days prior to the first solicitation of Certificateholders of the applicable series in connection therewith. If such a record date is fixed, such Direction may be given before
or after such record date, but only the Certificateholders of record of the applicable series at the close of business on such record date shall be deemed to be Certificateholders for the purposes of determining whether Certificateholders of the
requisite proportion of Outstanding Certificates of such series have authorized or agreed or consented to such Direction, and for that purpose the Outstanding Certificates of such series shall be computed as of such record date; provided, however,
that no such Direction by the Certificateholders on such record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Agreement not later than one year after such record date. Nothing in this paragraph
shall be construed to prevent the Company from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by
any Person be deemed cancelled and of no effect). 
 (e) Any Direction by the Holder of any Certificate shall bind the Holder of every
Certificate issued upon the transfer thereof or in exchange therefor or in lieu thereof, whether or not notation of such Direction is made upon such Certificate. 

(f) Except as otherwise provided in Section 1.04(c), Certificates of any series owned by or pledged to any Person shall have an equal and
proportionate benefit under the provisions of this Agreement, without preference, priority or distinction as among all of the Certificates of such series. 

(g) The Company and the Trustee may make reasonable rules for action by or at a meeting of Certificateholders. 

ARTICLE II. 
 ORIGINAL ISSUANCE OF
CERTIFICATES; 
 ACQUISITION OF TRUST PROPERTY 

Section 2.01 Amount Unlimited; Issuable in Series. (a) The aggregate face amount of Certificates that may be authenticated and
delivered under this Basic Agreement is unlimited. The Certificates may be issued from time to time in one or more series and shall be designated generally as the “Pass Through Certificates”, with such further designations added or
incorporated in such title for the Certificates of each series as are specified in the related Trust Supplement. Each Certificate shall bear upon its face the designation so selected for the series to which it belongs. All Certificates of the same
series shall be substantially identical except that the Certificates of a series may differ as to denomination and as may otherwise be provided in the Trust Supplement establishing the Certificates of such series. Each series of Certificates issued
pursuant to this Agreement will evidence fractional undivided interests in the related Trust and, except as may be specified in any Intercreditor Agreement or in the applicable Trust Supplement, will have no rights, benefits or interests in respect
of any other Trust or the Trust Property held therein. All Certificates of the same series shall be in all respects equally and 

  
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ratably entitled to the benefits of this Agreement without preference, priority or distinction on account of the actual time or times of authentication and delivery, all in accordance with the
terms and provisions of this Agreement. 
 (b) The following matters shall be established with respect to the Certificates of each series
issued hereunder by a Trust Supplement executed and delivered (x) by and between the Company and the Trustee, or (y) if the Parent will guarantee the obligations of the Company under any Equipment Notes or any Leases related to Equipment
Notes to be acquired and held in the Trust formed by such Trust Supplement, by and among the Parent, the Company and the Trustee: 

(1) the formation of the Trust as to which the Certificates of such series represent fractional undivided interests and its
designation (which designation shall distinguish such Trust from each other Trust created under this Basic Agreement and a Trust Supplement); 

(2) the specific title of the Certificates of such series (which title shall distinguish the Certificates of such series from
each other series of Certificates created under this Basic Agreement and a Trust Supplement); 
 (3) subject to
Section 2.01(a) hereof, any limit upon the aggregate face amount of the Certificates of such series which may be authenticated and delivered under this Basic Agreement (which limit shall not pertain to Certificates authenticated and delivered
upon registration of transfer of, or in exchange for, or in lieu of, other Certificates of the series pursuant to Sections 3.03, 3.04, 3.05(d) and 3.06); 

(4) the Cut-off Date with respect to the Certificates of such series and the related Trust; 

(5) the Regular Distribution Dates applicable to the Certificates of such series; 

(6) the Special Distribution Dates applicable to the Certificates of such series; 

(7) if other than as provided in Section 3.04 or Section 7.12(b), the Registrar or the Paying Agent for the
Certificates of such series, including any Co-Registrar or additional Paying Agent; 
 (8) if other than as provided in
Section 3.01, the denominations in which the Certificates of such series shall be issuable; 
 (9) if other than United
States dollars, the currency or currencies (including composite currencies or currency units) in which the Certificates of such series shall be denominated or payable, in whole or in part; 

the specific form of the Certificates of such series (including the interest rate applicable thereto) and whether or not Certificates of such
series are to be issued as Book-Entry Certificates and, if such Certificates are to be Book-Entry Certificates, the form of Letter of Representations, if any (or, in the case of any 

  
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Certificates denominated or payable in a currency other than United States dollars and if other than as provided in Section 3.05, whether and the circumstances under which beneficial owners
of interests in such Certificates in permanent global form may exchange such interests for Certificates of such series and of like tenor of any authorized form and denomination); 

(10) a description of the Equipment Notes, and, if applicable, of any notes issued by a trust or other entity secured by
Equipment Notes, to be acquired and held in the Trust formed by such Trust Supplement and of the related Aircraft, if determined, and Note Documents, if determined; 

(11) provisions with respect to the terms for which the definitions set forth in Article I hereof or the terms of any Section
hereof, including Section 11.01 hereof, permit or require further specification in the related Trust Supplement; 
 (12)
any restrictions (including legends) in respect of ERISA or tax matters; 
 (13) the acceptance of appointment by the
institution named to act as Trustee with respect to such Trust, if different from the institution executing this Basic Agreement or its successor; 

(14) whether such series will be subject to an Intercreditor Agreement and, if so, the specific designation of such
Intercreditor Agreement and the rights of Potential Purchasers upon the occurrence of a Triggering Event; 
 (15) whether
such series will have the benefit of a Liquidity Facility or any interest rate swap, interest rate cap, option, forward contract or other derivative contract or other form of credit enhancement and, if so, any terms appropriate thereto; 

(16) whether the Parent will guarantee the obligations of the Company under any Equipment Notes or any Leases related to
Equipment Notes to be acquired and held in the Trust formed by such Trust Supplement and, if so, the specific form of such Parent Guarantee or Parent Guarantees and a statement that the Parent shall be an “obligor” as such term is defined
in and solely for purposes of the Trust Indenture Act and shall be required to comply with those provisions of this Agreement compliance with which is required by an “obligor” under the Trust Indenture Act; 

(17) whether there will be a deposit agreement, escrow agreement or other arrangement prior to the delivery of one or more
Aircraft or the commencement of the Lease in respect of one or more Aircraft and, if so, any terms appropriate thereto; 

(18) the extent, if any, to which the Company may acquire Certificates and deliver such Certificates or cash to the respective
Trusts and obtain the release of Equipment Notes or other Trust Property held by such Trusts; 
 (19) if the Certificates of
such series are to be issued in bearer form, the forms thereof and any other special terms relating thereto; 

  
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 (20) the “Responsible Party” for purposes of directing the Trustee to
make Specified Investments; and 
 (21) any other terms of the Certificates of such series or any related Parent Guarantee
(which terms shall not be inconsistent with the provisions of the Trust Indenture Act but may modify, amend, supplement or delete any of the terms of this Basic Agreement), including any terms of the Certificates of such series which may be required
or advisable under United States laws or regulations or advisable (as determined by the Company) in connection with the marketing of Certificates of the series. 

(c) At any time and from time to time after the execution and delivery of this Basic Agreement and a Trust Supplement forming a Trust and
establishing the terms of Certificates of a series, Certificates of such series shall be executed, authenticated and delivered by the Trustee to the Person or Persons specified by the Company upon request of the Company and upon satisfaction or
waiver of any conditions precedent set forth in such Trust Supplement or in any other document to which a Trustee is a party relating to the issuance of the Certificates of such series. 

Section 2.02 Acquisition of Equipment Notes. Unless otherwise specified in the related Trust Supplement: 

(a) On or prior to the Issuance Date of the Certificates of a series, the Trustee shall execute and deliver the related Note Purchase
Agreements in the form delivered to the Trustee by the Company. Unless otherwise specified in the related Trust Supplement, the Trustee shall issue and sell such Certificates, in authorized denominations and in such Fractional Undivided Interests,
so as to result in the receipt of consideration in an amount equal to the aggregate purchase price of the Equipment Notes (and/or, if applicable, any notes issued by a trust or other entity secured by Equipment Notes) contemplated to be purchased by
the Trustee under the related Note Purchase Agreements and, concurrently therewith (unless the Company shall have delivered to the Trustee the Postponement Notice relating to one or more Postponed Notes pursuant to Subsection (b) below), the
Trustee shall purchase, pursuant to the terms and conditions of the Note Purchase Agreements, such Equipment Notes (except Postponed Notes, if any)(or other notes) at a purchase price equal to the amount of such consideration so received. Except as
provided in Sections 3.03, 3.04, 3.05 and 3.06 hereof, the Trustee shall not execute, authenticate or deliver Certificates of such series in excess of the aggregate amount specified in this paragraph. The provisions of this Subsection (a) are
subject to the provisions of Subsection (b) below. 
 (b) If on or prior to the Issuance Date with respect to a series of Certificates
the Company shall deliver to the Trustee a Postponement Notice relating to one or more Postponed Notes, the Trustee shall postpone the purchase of such Postponed Notes and shall deposit into an escrow account (as to the related Trust, the
“Escrow Account”) to be maintained as part of the related Trust an amount equal to the purchase price of such Postponed Notes (the “Escrowed Funds”). The portion of the Escrowed Funds so deposited with respect to any particular
Postponed Notes shall be invested (a) by the Trustee at the direction and risk of, and for the benefit of, the Responsible Party in Specified Investments or (b) if provided in the Trust Supplement relating to such series of Certificates
and subject to the terms and conditions set 

  
 17 

 
forth therein, in debt instruments of the Company, in each case (i) maturing no later than any scheduled Transfer Date relating to such Postponed Notes, or (ii) if no such Transfer Date
has been scheduled, maturing on the next Business Day, or (iii) if subsequent to the giving of the applicable Postponement Notice the Company has given notice to the Trustee that such Postponed Notes will not be issued, maturing on the next
applicable Special Distribution Date, if such investments are reasonably available for purchase. The Trustee shall make withdrawals from the Escrow Account only as provided in this Agreement. Upon request of the Company on one or more occasions and
the satisfaction or waiver of the closing conditions specified in the applicable Note Purchase Agreements on or prior to the related Cut-off Date, the Trustee shall purchase the applicable Postponed Notes, on the terms specified in such Note
Purchase Agreements, with the Escrowed Funds withdrawn from the Escrow Account. 
 The Trustee shall hold all Specified Investments until
the maturity thereof and will not sell or otherwise transfer Specified Investments. If Specified Investments held in an Escrow Account mature prior to any applicable Transfer Date, any proceeds received on the maturity of such Specified Investments
(other than any earnings thereon) shall be reinvested by the Trustee at the written direction and risk of, and for the benefit of, the Responsible Party in Specified Investments maturing as provided in the preceding paragraph. 

Subject to the provisions of the Intercreditor Agreement, any earnings on Specified Investments received from time to time by the Trustee
shall be promptly distributed to the Responsible Party. The Responsible Party shall pay to the Trustee for deposit to the relevant Escrow Account an amount equal to any net losses on any Specified Investments made at its direction and risk as
incurred. On any Regular Distribution Date in respect of the Certificates of any series occurring prior to the date of purchase of any Postponed Notes by the Trustee, the Responsible Party will pay (in immediately available funds) to the Trustee an
amount equal to the interest that would have accrued on such Postponed Notes if such Postponed Notes had been purchased on the later of the Issuance Date or the previous Regular Distribution Date in respect of the Certificates of such series to, but
not including, such Regular Distribution Date. On the first Regular Distribution Date in respect of the Certificates of any series following the purchase of any Postponed Notes by the Trustee, the Responsible Party will pay (in immediately available
funds) to the Trustee an amount equal to the interest that would have accrued on such Postponed Notes if such Postponed Notes had been purchased on the later of the Issuance Date or the previous Regular Distribution Date in respect of the
Certificates of such series to, but not including, the date of the purchase of such Postponed Notes by the Trustee. 
 If, in respect of the
Certificates of any series, the Company notifies the Trustee prior to the Cut-off Date that any Postponed Notes will not be issued on or prior to the Cut-off Date for any reason, on the next Special Distribution Date for such Certificates occurring
not less than 15 days following the date of such notice, (i) the Responsible Party shall pay (in immediately available funds) to the Trustee for deposit in the related Special Payments Account, an amount equal to the interest that would have
accrued on the Postponed Notes designated in such notice from the later of the Issuance Date or the previous Regular Distribution Date in respect of the Certificates of such series to, but not including, such Special Distribution Date and
(ii) the Trustee shall transfer an amount equal to that amount of Escrowed Funds that would have been used to purchase the Postponed Notes designated in such notice and the amount paid by the Responsible Party pursuant to the immediately
preceding clause (i) to the related Special Payments Account for distribution as a Special Payment in accordance with the provisions hereof. 

  
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 If, on such Cut-off Date, an amount equal to less than all of the Escrowed Funds (other than
Escrowed Funds referred to in the immediately preceding paragraph) has been used to purchase Postponed Notes, on the next Special Distribution Date occurring not less than 15 days following such Cut-off Date (i) the Responsible Party shall pay
to the Trustee for deposit in such Special Payments Account, in immediately available funds, an amount equal to the interest that would have accrued on such Postponed Notes contemplated to be purchased with such unused Escrowed Funds (other than
Escrowed Funds referred to in the immediately preceding paragraph) but not so purchased from the later of the Issuance Date or the previous Regular Distribution Date in respect of the Certificates of such series to, but not including, such Special
Distribution Date and (ii) the Trustee shall transfer such unused Escrowed Funds and the amount paid by the Responsible Party pursuant to the immediately preceding clause (i) to such Special Payments Account for distribution as a Special
Payment in accordance with the provisions hereof. 
 Section 2.03 Acceptance by Trustee. The Trustee, by the execution and delivery
of a Trust Supplement creating a Trust and establishing a series of Certificates, shall acknowledge its acceptance of all right, title and interest in and to the Trust Property to be acquired pursuant to Section 2.02 hereof and the related Note
Purchase Agreements and shall declare that the Trustee holds and will hold such right, title and interest for the benefit of all then present and future Certificateholders of such series, upon the trusts herein and in such Trust Supplement set
forth. By the acceptance of each Certificate of such series issued to it under this Agreement, each initial Holder of such series as grantor of such Trust shall thereby join in the creation and declaration of such Trust. No Certificateholder of any
series shall have legal title to any part of the Trust Property of the related Trust. 
 Section 2.04 Limitation of Powers. Each
Trust shall be constituted solely for the purpose of making the investment in the Equipment Notes provided for in the related Trust Supplement, and, except as set forth herein or in such related Trust Supplement, the Trustee shall not be authorized
or empowered to acquire any other investments or engage in any other activities. Except to the extent otherwise provided in the applicable Trust Supplement, the Trustee shall not be authorized or empowered to do anything that would cause such Trust
to fail to qualify as a “grantor trust” for federal income tax purposes (including as subject to this restriction, acquiring any Aircraft (as defined in the related Indentures) by bidding such Equipment Notes or otherwise, or taking any
action with respect to any such Aircraft once acquired). 
 ARTICLE III. 

THE CERTIFICATES 
 Section 3.01
Form, Denomination and Execution of Certificates. Except to the extent otherwise specified in the applicable Trust Supplement, the Certificates of each series shall be issued in fully registered form without coupons and shall be substantially
in the form specified in such Trust Supplement, with such omissions, variations and insertions as are permitted by this Agreement, and may have such letters, numbers or other marks of identification and such

  
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legends or endorsements placed thereon as may be required to comply with any applicable laws, rules, regulations or the rules of any securities exchange on which such Certificates may be listed
or to conform to any usage in respect thereof, or as may, consistently herewith, be determined by the Trustee or the officers executing such Certificates, as evidenced by the Trustee’s or such officers’ execution of the Certificates. 

Except as provided in Section 3.05, the definitive Certificates of such series shall be typed, printed, lithographed or engraved or
produced by any combination of these methods or may be produced in any other manner permitted by the rules of any securities exchange on which the Certificates may be listed, all as determined by the officers executing such Certificates, as
evidenced by their execution of such Certificates. 
 Except as otherwise provided in the related Trust Supplement, the Certificates of each
series shall be issued in minimum denominations of $1,000 or integral multiples thereof except that one Certificate of such series may be issued in a different denomination. The Certificates of such series shall be executed on behalf of the Trustee
by manual or facsimile signature of a Responsible Officer of the Trustee. Certificates of any series bearing the manual or facsimile signature of an individual who was, at the time when such signature was affixed, authorized to sign on behalf of the
Trustee shall be valid and binding obligations of the Trustee, notwithstanding that such individual has ceased to be so authorized prior to the authentication and delivery of such Certificates or did not hold such office at the date of such
Certificates. 
 Section 3.02 Authentication of Certificates. (a) Except to the extent otherwise specified in the applicable
Trust Supplement, on the Issuance Date, the Trustee shall duly execute, authenticate and deliver Certificates of each series in authorized denominations equaling in the aggregate the aggregate face amount of the Equipment Notes that may be purchased
by the Trustee pursuant to the related Note Purchase Agreements, and evidencing the entire ownership of the related Trust. Thereafter, the Trustee shall duly execute, authenticate and deliver the Certificates of such series as herein provided. 

(b) No Certificate of any series shall be entitled to any benefit under this Agreement, or be valid for any purpose, unless there appears on
such Certificate a certificate of authentication substantially in the form set forth in the Trust Supplement relating to such series of Certificates executed by the Trustee by manual signature, and such certificate of authentication upon any
Certificate shall be conclusive evidence, and the only evidence, that such Certificate has been duly authenticated and delivered hereunder. All Certificates of any series shall be dated the date of their authentication. 

Section 3.03 Temporary Certificates. Until definitive Certificates are ready for delivery, the Trustee shall execute, authenticate and
deliver temporary Certificates of each series. Temporary Certificates of each series shall be substantially in the form of definitive Certificates of such series but may have insertions, substitutions, omissions and other variations determined to be
appropriate by the officers executing the temporary Certificates of such series, as evidenced by their execution of such temporary Certificates. If temporary Certificates of any series are issued, the Trustee will cause definitive Certificates of
such series to be prepared without unreasonable delay. After the preparation of definitive Certificates of such series, the temporary Certificates shall be exchangeable for definitive Certificates upon surrender of such temporary

  
 20 

 
Certificates at the Corporate Trust Office or the office or agency of the Trustee designated for such purpose pursuant to Section 7.12, without charge to the Certificateholder. Upon
surrender for cancellation of any one or more temporary Certificates, the Trustee shall execute, authenticate and deliver in exchange therefor a like face amount of definitive Certificates of like series, in authorized denominations and of a like
Fractional Undivided Interest. Until so exchanged, such temporary Certificates shall be entitled to the same benefits under this Agreement as definitive Certificates of such series. 

Section 3.04 Transfer and Exchange. The Trustee shall cause to be kept at the office or agency to be maintained by it in accordance
with the provisions of Section 7.12 a register (the “Register”) for each series of Certificates in which, subject to such reasonable regulations as it may prescribe, the Trustee shall provide for the registration of Certificates of
such series and of transfers and exchanges of such Certificates as herein provided. The Trustee shall initially be the registrar (the “Registrar”) for the purpose of registering such Certificates of each series and transfers and exchanges
of such Certificates as herein provided. 
 All Certificates issued upon any registration of transfer or exchange of Certificates of any
series shall be valid obligations of the applicable Trust, evidencing the same interest therein, and entitled to the same benefits under this Agreement, as the Certificates of such series surrendered upon such registration of transfer or exchange.

 Upon surrender for registration of transfer of any Certificate at the Corporate Trust Office or such other office or agency, the Trustee
shall execute, authenticate and deliver, in the name of the designated transferee or transferees, one or more new Certificates of like series, in authorized denominations of a like aggregate Fractional Undivided Interest. 

At the option of a Certificateholder, Certificates may be exchanged for other Certificates of like series, in authorized denominations and of
a like aggregate Fractional Undivided Interest, upon surrender of the Certificates to be exchanged at any such office or agency. Whenever any Certificates are so surrendered for exchange, the Trustee shall execute, authenticate and deliver the
Certificates that the Certificateholder making the exchange is entitled to receive. Every Certificate presented or surrendered for registration of transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in form
satisfactory to the Trustee and the Registrar duly executed by the Certificateholder thereof or its attorney duly authorized in writing. 

Except to the extent otherwise provided in the applicable Trust Supplement, no service charge shall be made to a Certificateholder for any
registration of transfer or exchange of Certificates, but the Trustee shall require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer or exchange of Certificates. All Certificates
surrendered for registration of transfer or exchange shall be cancelled and subsequently destroyed by the Trustee. 
 Section 3.05
Book-Entry and Definitive Certificates. (a) The Certificates of any series may be issued at the option of the Company in the form of one or more typewritten Certificates representing the Book-Entry Certificates of such series, to be
delivered to The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, the Company. In such case, the 

  
 21 

 
Certificates of such series delivered to The Depository Trust Company shall initially be registered on the Register in the name of Cede & Co., the nominee of the initial Clearing Agency,
and no Certificate Owner will receive a definitive certificate representing such Certificate Owner’s interest in the Certificates of such series, except as provided in Subsection (d) below. As to the Certificates of any such series (other
than the one Certificate or such series issued in a denomination of other than an even multiple of $1,000), unless and until definitive, fully registered Certificates (the “Definitive Certificates”) have been issued pursuant to Subsection
(d) below: 
 (1) the provisions of this Section 3.05 shall be in full force and effect; 

(2) the Company, the Paying Agent, the Registrar and the Trustee may deal with the Clearing Agency for all purposes (including
the making of distributions on the Certificates); 
 (3) to the extent that the provisions of this Section 3.05 conflict
with any other provisions of this Agreement (other than the provisions of any Trust Supplement expressly amending this Section 3.05 as permitted by this Basic Agreement), the provisions of this Section 3.05 shall control; 

(4) the rights of Certificate Owners shall be exercised only through the Clearing Agency and shall be limited to those
established by law and agreements between such Certificate Owners and the Clearing Agency Participants; and until Definitive Certificates are issued pursuant to Subsection (d) below, the Clearing Agency will make book-entry transfers among the
Clearing Agency Participants and receive and transmit distributions of principal, interest and premium, if any, on the Certificates to such Clearing Agency Participants; 

(5) such Certificates of such series may be transferred in whole, but not in part, and in the manner provided in
Section 3.04, by the Clearing Agency holding such Certificates to a nominee of such Clearing Agency, or by such Clearing Agency to a successor Clearing Agency that has been selected or approved by the Company or to a nominee of such successor
Clearing Agency; and 
 (6) whenever this Agreement requires or permits actions to be taken based upon instructions or
directions of Certificateholders of such series holding Certificates of such series evidencing a specified percentage of the Fractional Undivided Interests in the related Trust, the Clearing Agency shall be deemed to represent such percentage only
to the extent that it has received instructions to such effect from Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in Certificates of such series and has delivered such
instructions to the Trustee. None of the Company, the Parent or the Trustee or any agent of any of them shall have any obligation to determine whether the Clearing Agency has in fact received any such instructions. 

(b) Whenever notice or other communication to the Certificateholders of a series is required under this Agreement, unless and until Definitive
Certificates shall have been issued pursuant to Subsection (d) below, the Trustee shall give all such notices and communications specified herein to be given to Certificateholders of such series to the Clearing Agency. 

  
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 (c) Except as otherwise provided in the related Trust Supplement, the Trustee shall enter into
the applicable Letter of Representations with respect to each series of Certificates and fulfill its responsibilities thereunder. 
 (d) If
with respect to the Certificates of any series (i) the Company advises the Trustee in writing that the Clearing Agency is no longer willing or able to discharge properly its responsibilities and the Trustee or the Company is unable to locate a
qualified successor, (ii) the Company, at its option, advises the Trustee in writing that it elects to terminate the book-entry system through the Clearing Agency or (iii) after the occurrence of an Event of Default, Certificate Owners of
Book-Entry Certificates of such series evidencing Fractional Undivided Interests aggregating not less than a majority in interest in the related Trust, by Act of such Certificate Owners delivered to the Company and the Trustee, advise the Company,
the Trustee and the Clearing Agency through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency Participants is no longer in the best interests of the Certificate Owners of such
series, then the Trustee shall notify all Certificate Owners of such series, through the Clearing Agency, of the occurrence of any such event and of the availability of Definitive Certificates. Upon surrender to the Trustee of all the Certificates
of such series held by the Clearing Agency, accompanied by registration instructions from the Clearing Agency Participants for registration of Definitive Certificates in the names of Certificate Owners of such series, the Trustee shall issue and
deliver the Definitive Certificates of such series in accordance with the instructions of the Clearing Agency. Neither the Company, the Registrar, the Paying Agent nor the Trustee shall be liable for any delay in delivery of such instructions and
may conclusively rely on, and shall be protected in relying on, such registration instructions. Upon the issuance of Definitive Certificates of such series, the Trustee shall recognize the Persons in whose names the Definitive Certificates are
registered in the Register as Certificateholders hereunder. Neither the Company nor the Trustee shall be liable if the Trustee or the Company is unable to locate a qualified successor Clearing Agency. 

(e) The provisions of this Section 3.05 may be made inapplicable to any series or may be amended with respect to any series in the
related Trust Supplement. 
 Section 3.06 Mutilated, Destroyed, Lost or Stolen Certificates. If (i) any mutilated Certificate is
surrendered to the Registrar, or the Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Certificate, and (ii) there is delivered to the Registrar and the Trustee such security, indemnity or bond as may be
required by them to save each of them and the Company harmless, then, in the absence of notice to the Registrar or the Trustee that such destroyed, lost or stolen Certificate has been acquired by a protected purchaser (within the meaning of Article
8 of the Uniform Commercial Code in effect in any applicable jurisdiction), and provided that the requirements of Section 8-405 of the Uniform Commercial Code in effect in any applicable jurisdiction are met, the Trustee shall execute,
authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate or Certificates of like series, in authorized denominations and of like Fractional Undivided Interest and bearing a
number not contemporaneously outstanding. 

  
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 In connection with the issuance of any new Certificate under this Section 3.06, the Trustee
shall require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee and the Registrar) connected therewith. 

Any duplicate Certificate issued pursuant to this Section 3.06 shall constitute conclusive evidence of the appropriate Fractional
Undivided Interest in the related Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. 

The provisions of this Section 3.06 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to
the replacement or payment of mutilated, destroyed, lost or stolen Certificates. 
 Section 3.07 Persons Deemed Owners. Prior to due
presentment of a Certificate for registration of transfer, the Company, the Trustee, the Registrar and any Paying Agent shall deem and treat the Person in whose name any Certificate is registered (as of the day of determination) on the Register as
the owner of such Certificate and the Certificateholder for the purpose of receiving distributions pursuant to Article IV and for all other purposes whatsoever, and none of the Company, the Trustee, the Registrar or any Paying Agent shall be
affected by any notice to the contrary. All payments or distributions made to any such Person shall be valid and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable on any such Certificate.

 Unless otherwise provided with respect to any Certificates pursuant to Section 2.01(b), the Company, the Parent, any other obligor
upon any Certificates and any Affiliate of any thereof may acquire, tender for, purchase, own, hold, become the pledgee of and otherwise deal with any Certificates. 

Section 3.08 Cancellation. All Certificates surrendered for payment or transfer or exchange shall, if surrendered to the Trustee or any
agent of the Trustee other than the Registrar, be delivered to the Registrar for cancellation and shall promptly be cancelled by it. No Certificates shall be authenticated in lieu of or in exchange for any Certificates cancelled as provided in this
Section 3.08, except as expressly permitted by this Agreement. All cancelled Certificates held by the Registrar shall be destroyed and a certification of their destruction delivered to the Trustee. 

Section 3.09 Limitation of Liability for Payments. All payments and distributions made to Certificateholders of any series in respect
of the Certificates of such series shall be made only from the Trust Property of the related Trust and only to the extent that the Trustee shall have sufficient income or proceeds from such Trust Property to make such payments in accordance with the
terms of Article IV of this Agreement. The Certificates do not represent indebtedness of the related Trusts, and references herein or in any Trust Supplement to interest accruing on any Certificates are intended for purposes of computation only.
Each Certificateholder, by its acceptance of a Certificate, agrees that it will look solely to the income and proceeds from the Trust Property of the related Trust for any payment or distribution due to such Certificateholder pursuant to the terms
of this Agreement and that it will not have any recourse to the Company, the Trustee, the Loan Trustees, any Owner Trustee or any Owner Participant except as otherwise expressly provided in this Agreement, in any Note Document or in any related
Intercreditor Agreement. 

  
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 The Company is a party to this Agreement solely for purposes of meeting the requirements of the
Trust Indenture Act, and therefore shall not have any right, obligation or liability hereunder, or under the terms of any Trust Supplement or any Certificates (except as otherwise expressly provided herein or therein). 

Section 3.10 CUSIP Numbers. The Certificates may include “CUSIP” numbers (if then generally in use), and if so, the Trustee
may use the CUSIP numbers in notices in respect of the Certificates; provided, however, that any such notice may state that no representation is made as to the correctness or accuracy of the CUSIP number printed in the notice or on the Certificates,
that reliance may be placed only on the other identification numbers printed on the Certificates, and any such notice shall not be affected by any defect or omission of such CUSIP numbers. 

ARTICLE IV. 
 DISTRIBUTIONS;
STATEMENTS TO CERTIFICATEHOLDERS 
 Section 4.01 Certificate Account and Special Payments Account. (a) The Trustee shall
establish and maintain on behalf of the Certificateholders of each series a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold such Certificate Account in trust for the benefit of the Certificateholders of such
series, and shall make or permit withdrawals therefrom only as provided in this Agreement or any Intercreditor Agreement. On each day when a Scheduled Payment is made to the Trustee or the Subordination Agent, as the case may be, as holder of the
Equipment Notes issued under the related Indenture, with respect to the Certificates of any series, the Trustee, upon receipt of the payments to it, shall immediately deposit the aggregate amount of such Scheduled Payment in the applicable
Certificate Account. 
 (b) The Trustee shall establish and maintain on behalf of the Certificateholders of each series a Special Payments
Account as one or more accounts, which shall be non-interest bearing except as provided in Section 4.04. The Trustee shall hold the Special Payments Account in trust for the benefit of the Certificateholders of such series and shall make or
permit withdrawals therefrom only as provided in this Agreement or any Intercreditor Agreement. On each day when one or more Special Payments are made to the Trustee or the Subordination Agent, as the case may be, as holder of the Equipment Notes
issued under the related Indenture or to the Trustee pursuant to the last two paragraphs of Section 2.02(b) with respect to the Certificates of any series, the Trustee, upon receipt of the payments to it, shall immediately deposit the aggregate
amount of such Special Payments in the applicable Special Payments Account. 
 (c) The Trustee shall present (or, if applicable, cause the
Subordination Agent to present) to the Loan Trustee to which an Equipment Note relates such Equipment Note on the date of its stated final maturity or, in the case of any Equipment Note which is to be redeemed or purchased in whole pursuant to the
related Indenture, on the applicable redemption or purchase date under such Indenture. 

  
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 Section 4.02 Distributions from Certificate Account and Special Payments Account.
(a) Subject to the provisions of any Intercreditor Agreement, on each Regular Distribution Date with respect to a series of Certificates or as soon thereafter as the Trustee has confirmed receipt of the payment of all or any part of the
Scheduled Payments due on the Equipment Notes held in the related Trust on such date, the Trustee shall distribute out of the applicable Certificate Account the entire amount deposited therein pursuant to Section 4.01(a). There shall be so
distributed to each Certificateholder of record of such series on the Record Date with respect to such Regular Distribution Date (other than as provided in Section 11.01 concerning the final distribution) by check mailed to such
Certificateholder, at the address appearing in the Register, such Certificateholder’s pro rata share (based on the aggregate Fractional Undivided Interest in the related Trust held by such Certificateholder) of the total amount in the
applicable Certificate Account, except that, with respect to Certificates registered on the Record Date in the name of a Clearing Agency (or its nominee), such distribution shall be made by wire transfer in immediately available funds to the account
designated by such Clearing Agency (or such nominee). 
 (b) Subject to the provisions of any Intercreditor Agreement, on each Special
Distribution Date with respect to any Special Payment with respect to a series of Certificates or as soon thereafter as the Trustee has confirmed receipt of any Special Payments due on the Equipment Notes held in the related Trust or realized upon
the sale of such Equipment Notes, the Trustee shall distribute out of the applicable Special Payments Account the entire amount of such applicable Special Payment deposited therein pursuant to Section 4.01(b). There shall be so distributed to
each Certificateholder of record of such series on the Record Date with respect to such Special Distribution Date (other than as provided in Section 11.01 concerning the final distribution) by check mailed to such Certificateholder, at the
address appearing in the Register, such Certificateholder’s pro rata share (based on the aggregate Fractional Undivided Interest in the related Trust held by such Certificateholder) of the total amount in the applicable Special Payments Account
on account of such Special Payment, except that, with respect to Certificates registered on the Record Date in the name of a Clearing Agency (or its nominee), such distribution shall be made by wire transfer in immediately available funds to the
account designated by such Clearing Agency (or such nominee). 
 (c) The Trustee shall, at the expense of the Company, cause notice of each
Special Payment with respect to a series of Certificates to be mailed to each Certificateholder of such series at his address as it appears in the Register. Subject to the provisions of any Intercreditor Agreement: (i) in the event of
redemption or purchase of Equipment Notes held in the related Trust, such notice shall be mailed not less than 15 days prior to the Special Distribution Date for the Special Payment resulting from such redemption or purchase, which Special
Distribution Date shall be the date of such redemption or purchase; (ii) in the event that the Trustee receives a notice from the Company pursuant to Section 2.02(b) that Postponed Notes will not be purchased by the Trustee, such notice of
Special Payment shall be mailed as soon as practicable after receipt of such notice from the Company and shall state the Special Distribution Date for such Special Payment, which shall occur 15 days after the date of such notice of Special Payment
or (if such 15th day is not practicable) as soon as practicable thereafter; (iii) in the event that any Special Payment is to be made pursuant to the last paragraph of Section 2.02(b), such notice of Special Payment shall be mailed on the
Cut-off Date (or, if such mailing on the Cut-off Date is not practicable, as soon as practicable after the Cut-off Date) and shall state the Special 

  
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Distribution Date for such Special Payment, which shall occur 15 days after the date of such notice of Special Payment or (if such 15th day is not practicable) as soon as practicable thereafter;
and (iv) in the case of any other Special Payments, such notice of Special Payment shall be mailed as soon as practicable after the Trustee has confirmed that it has received funds for such Special Payment and shall state the Special
Distribution Date for such Special Payment, which shall occur 15 days after the date of such notice of Special Payment or (if such 15th day is not practicable) as soon as practicable thereafter. Notices mailed by the Trustee as provided in the
paragraphs above shall set forth: 
 (i) the Special Distribution Date and the Record Date therefor (except as otherwise
provided in Section 11.01); 
 (ii) the amount of the Special Payment (taking into account any payment to be made by the
Responsible Party pursuant to Section 2.02(b)) for each $1,000 face amount Certificate and the amount thereof constituting principal, premium, if any, and interest; 

(iii) the reason for the Special Payment; and 

(iv) if the Special Distribution Date is the same date as a Regular Distribution Date for the Certificates of such series, the
total amount to be received on such date for each $1,000 face amount Certificate. 
 If the amount of premium, if any, payable upon the
redemption or purchase of an Equipment Note has not been calculated at the time that the Trustee mails notice of a Special Payment, it shall be sufficient if the notice sets forth the other amounts to be distributed and states that any premium
received will also be distributed. 
 If any redemption or purchase of the Equipment Notes held in any Trust is cancelled, the Trustee, as
soon as possible after learning thereof, shall cause notice thereof to be mailed to each Certificateholder of the related series at its address as it appears on the Register. 

Section 4.03 Statements to Certificateholders. (a) On each Regular Distribution Date and Special Distribution Date, the Trustee
will include with each distribution to Certificateholders of the related series a statement, giving effect to the distribution to be made on such Regular Distribution Date or Special Distribution Date, and, except to the extent otherwise provided in
the applicable Trust Supplement, setting forth the following information (per $1,000 aggregate face amount of Certificate as to (i) and (ii) below): 

(i) the amount of such distribution allocable to principal and the amount allocable to premium, if any; 

(ii) the amount of such distribution allocable to interest; and 

(iii) the Pool Balance and the Pool Factor of the related Trust. 

With respect to the Certificates registered in the name of a Clearing Agency or its nominee, on the Record Date prior to each Regular
Distribution Date and Special Distribution Date, the Trustee will request from the Clearing Agency a securities position listing setting forth 

  
 27 

 
the names of all the Clearing Agency Participants reflected on the Clearing Agency’s books as holding interests in the Certificates on such Record Date. On each Regular Distribution Date and
Special Distribution Date, the applicable Trustee will mail to each such Clearing Agency Participant the statement described above and will make available additional copies as requested by such Clearing Agency Participants for forwarding to holders
of interests in the Certificates. 
 (b) Within a reasonable period of time after the end of each calendar year but not later than the
latest date permitted by law, except to the extent otherwise provided in the applicable Trust Supplement, the Trustee shall furnish to each Person who at any time during such calendar year was a Certificateholder of record a statement containing the
sum of the amounts determined pursuant to clauses (a)(i) and (a)(ii) above with respect to the related Trust for such calendar year or, in the event such Person was a Certificateholder of record during a portion of such calendar year, for the
applicable portion of such year, and such other items as are readily available to the Trustee and which a Certificateholder may reasonably request as necessary for the purpose of such Certificateholder’s preparation of its federal income tax
returns. With respect to Certificates registered in the name of a Clearing Agency or its nominee, such statement and such other items shall be prepared on the basis of information supplied to the Trustee by the Clearing Agency Participants and shall
be delivered by the Trustee to such Clearing Agency Participants to be available for forwarding by such Clearing Agency Participants to the holders of interests in the Certificates. 

Section 4.04 Investment of Special Payment Moneys. Any money received by the Trustee pursuant to Section 4.01(b) representing a
Special Payment which is not distributed on the date received shall, to the extent practicable, be invested by the Trustee in Permitted Investments selected by the Company in telephonic (confirmed in writing) or written instructions to the Trustee
pending distribution of such Special Payment pursuant to Section 4.02. Any investment made pursuant to this Section 4.04 shall be in such Permitted Investments having maturities not later than the date that such moneys are required to be
used to make the payment required under Section 4.02 on the applicable Special Distribution Date and the Trustee shall hold any such Permitted Investments until maturity. Absent receipt of instructions from the Company, such Special Payment
shall remain uninvested by the Trustee pending receipt of investment instructions. The Trustee shall have no liability with respect to any investment made pursuant to this Section 4.04, other than by reason of the willful misconduct or
negligence of the Trustee. All income and earnings from such investments shall be distributed on such Special Distribution Date as part of such Special Payment. 

ARTICLE V. 
 THE COMPANY 

Section 5.01 Maintenance of Corporate Existence. The Company, at its own cost and expense, will 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 specifically permitted in Section 5.02; provided, however, that the Company shall not be required to preserve any right
or franchise if the Company shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company. 

  
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 Section 5.02 Consolidation, Merger, Etc. (a) The Company shall not consolidate with or
merge into any other Person under circumstances where the Company is not the surviving Person or convey, transfer or lease substantially all of its assets as an entirety to any Person unless the Person formed by such consolidation or into which the
Company is merged or the Person that acquires by conveyance, transfer or lease substantially all of the assets of the Company as an entirety shall be organized and validly existing under the laws of the United States of America or any state thereof
or the District of Columbia, and such Person shall execute and deliver to the Trustee an agreement in form and substance reasonably satisfactory to the Trustee containing an assumption by such successor Person of the due and punctual performance and
observance of each covenant and condition of this Agreement. 
 (b) Upon any consolidation or merger, or any conveyance, transfer or lease
of substantially all of the assets of the Company as an entirety in accordance with this Section 5.02, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made
shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Agreement with the same effect as if such successor Person had been named as the Company herein. 

(c) The Trustee may receive an Officer’s Certificate and an Opinion of Counsel of the Company as conclusive evidence that any such
consolidation, merger, conveyance, transfer or lease, and any such assumption, complies with the provisions of this Section 5.02. 

ARTICLE VI. 
 DEFAULT 

Section 6.01 Indenture Events of Default and Triggering Events. (a) If in respect of any Trust, any Indenture Event of Default
shall occur and be continuing, then, and in each and every case, so long as such Indenture Event of Default shall be continuing, and subject to the provisions of any Intercreditor Agreement, the Trustee may vote all of the Equipment Notes issued
under the related Indenture and held in such Trust, and, upon the direction of the Certificateholders holding Certificates evidencing Fractional Undivided Interests in such Trust aggregating not less than a majority in interest in such Trust, the
Trustee shall vote not less than a corresponding majority of such Equipment Notes in favor of directing the Loan Trustee under such Indenture to declare the unpaid principal amount of the Equipment Notes then outstanding to which such Indenture
Event of Default relates and accrued interest thereon to be due and payable under, and in accordance with the provisions of, the relevant Indenture. In addition, if an Indenture Event of Default shall have occurred and be continuing under any
Indenture, subject to the provisions of any Intercreditor Agreement, the Trustee may in accordance with the relevant Indenture vote the Equipment Notes held in the Trust to which such Indenture Event of Default relates to direct the Loan Trustee
regarding the exercise of remedies provided in such Indenture. 
 (b) In addition, after an Indenture Event of Default shall have occurred
and be continuing with respect to any Equipment Note, subject to the provisions of any Intercreditor Agreement and the applicable Trust Supplement, the Trustee may in its discretion, and upon the direction of the Certificateholders holding
Certificates evidencing Fractional Undivided Interests 

  
 29 

 
aggregating not less than a majority in interest in the related Trust shall, by such officer or agent as it may appoint, sell, convey, transfer and deliver such Equipment Note or Equipment Notes,
without recourse to or warranty by the Trustee or any Certificateholder, to any Person. In any such case, the Trustee shall sell, assign, contract to sell or otherwise dispose of and deliver such Equipment Note or Equipment Notes in one or more
parcels at public or private sale or sales, at any location or locations at the option of the Trustee, all upon such terms and conditions as it may reasonably deem advisable and at such prices as it may reasonably deem advisable, for cash. If the
Trustee so decides or is required to sell or otherwise dispose of any Equipment Note pursuant to this Section, the Trustee shall take such of the actions described above as it may reasonably deem most effectual to complete the sale or other
disposition of such Equipment Note. Notwithstanding the foregoing, any action taken by the Trustee under this Section shall not, in the reasonable judgment of the Trustee, be adverse to the best interests of the Certificateholders of such series.

 (c) If an Intercreditor Agreement is applicable, upon the occurrence and during the continuation of any Indenture Event of Default under
any Indenture, the Trustee may, to the extent it is the Controlling Party at such time (as determined pursuant to the related Intercreditor Agreement), direct the exercise of remedies as provided in such related Intercreditor Agreement. 

(d) If an Intercreditor Agreement is applicable, by acceptance of its Certificate, each Certificateholder agrees that at any time after the
occurrence and during the continuation of a Triggering Event, each Certificateholder of Certificates of certain series (each, a “Potential Purchaser” and, collectively, the “Potential Purchasers”) may have certain rights to
purchase the Certificates of one or more other series, all as set forth in the Trust Supplement applicable to the Certificates held by such Potential Purchaser. The purchase price with respect to the Certificates of any series, and the procedure for
such purchase, shall be specified in such Trust Supplement or the applicable Intercreditor Agreement. By acceptance of its Certificate, each Certificateholder (each, a “Selling Certificateholder” and, collectively, the “Selling
Certificateholders”) of a series that is subject to purchase by Potential Purchasers, all as set forth in the Trust Supplement applicable to the Certificates held by the Selling Certificateholders, agrees that, at any time after the occurrence
and during the continuance of a Triggering Event, it will, upon payment of the applicable purchase price by one or more Potential Purchasers (upon such purchase, a “Purchasing Certificateholder”), forthwith sell, assign, transfer and
convey to such Purchasing Certificateholder (without recourse, representation or warranty of any kind except for its own acts) all of the right, title, interest and obligation of such Selling Certificateholder in this Agreement, any related
Intercreditor Agreement, any related Liquidity Facility, the related Note Documents and all Certificates of such series held by such Selling Certificateholder (excluding all right, title and interest under any of the foregoing to the extent such
right, title or interest is with respect to an obligation not then due and payable as respects any action or inaction or state of affairs occurring prior to such sale) and the Purchasing Certificateholder shall assume all of such Selling
Certificateholder’s obligations under this Agreement, any related Intercreditor Agreement, any related Liquidity Facility and the related Note Documents. The Certificates of such series will be deemed to be purchased on the date payment of the
purchase price is made notwithstanding the failure of any Selling Certificateholder to deliver any Certificates of such series and, upon such a purchase, (i) the only rights of the Selling Certificateholders will be to deliver the Certificates
to the Purchasing Certificateholder and receive the purchase price for such Certificates of such series and (ii) if the 

  
 30 

 
Purchasing Certificateholder shall so request, such Selling Certificateholder will comply with all of the provisions of Section 3.04 hereof to enable new Certificates of such series to be
issued to the Purchasing Certificateholder in such denominations as it shall request. All charges and expenses in connection with the issuance of any such new Certificates shall be borne by the Purchasing Certificateholder. 

Section 6.02 Incidents of Sale of Equipment Notes. Upon any sale of all or any part of the Equipment Notes held in the Trust made
either under the power of sale given under this Agreement or otherwise for the enforcement of this Agreement, the following shall be applicable: 

(1) Certificateholders and Trustee May Purchase Equipment Notes. Any Certificateholder, the Trustee in its individual or any
other capacity or any other Person may bid for and purchase any of the Equipment Notes held in the Trust, and upon compliance with the terms of sale, may hold, retain, possess and dispose of such Equipment Notes in their own absolute right without
further accountability. 
 (2) Receipt of Trustee Shall Discharge Purchaser. The receipt of the Trustee making such sale
shall be a sufficient discharge to any purchaser for its purchase money, and, after paying such purchase money and receiving such receipt, such purchaser or its personal representative or assigns shall not be obliged to see to the application of
such purchase money, or be in any way answerable for any loss, misapplication or non-application thereof. 
 (3) Application
of Moneys Received Upon Sale. Any moneys collected by the Trustee upon any sale made either under the power of sale given by this Agreement or otherwise for the enforcement of this Agreement shall be applied as provided in Section 4.02. In the
event that the proceeds of such sale of Equipment Notes are less than the principal amount of the Certificates of such series Outstanding, the Certificateholders shall have no claim for such shortfall against the Company, the Trustee or any other
Person including the related Owner Trustee or related Owner Participant, if any. 
 Section 6.03 Judicial Proceedings Instituted by
Trustee; Trustee May Bring Suit. If there shall be a failure to make payment of the principal of, premium, if any, or interest on any Equipment Note held in the related Trust, or if there shall be any failure to pay Rent (as defined in the
relevant Lease) under any Lease when due and payable, then the Trustee, in its own name and as trustee of an express trust, as holder of such Equipment Notes, to the extent permitted by and in accordance with the terms of any related Intercreditor
Agreement and any related Note Documents (subject to rights of the applicable Owner Trustee or Owner Participant, if any, to cure any such failure to pay principal of, premium, if any, or interest on any Equipment Note or to pay Rent under any Lease
in accordance with the applicable Indenture and to the rights of the Lessee under any applicable Lease), shall be entitled and empowered to institute any suits, actions or proceedings at law, in equity or otherwise, for the collection of the sums so
due and unpaid on such Equipment Notes or under such Lease and may prosecute any such claim or proceeding to judgment or final decree with respect to the whole amount of any such sums so due and unpaid. 

  
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 All rights of action and of asserting claims under this Agreement, or under any of the
Certificates, may be prosecuted and enforced by the Trustee without the possession of any of such Certificates or the production thereof in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee
shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys,
shall be for the ratable benefit of the Certificateholders of the related series. 
 In any proceedings brought by the Trustee (and also any
proceedings involving the interpretation of any provision of this Agreement, any Trust Supplement, any Intercreditor Agreement or any Liquidity Facility to which the Trustee shall be a party) the Trustee shall be held to represent all the
Certificateholders of the related series, and it shall not be necessary to make any such Certificateholders parties to any such proceedings. 

Section 6.04 Control by Certificateholders. Subject to Section 6.03 and any related Intercreditor Agreement, the
Certificateholders holding Certificates of a series evidencing Fractional Undivided Interests aggregating not less than a majority in interest in the related Trust shall have the right to direct the time, method and place of conducting any
proceeding for any remedy available to the Trustee with respect to such Trust or pursuant to the terms of such Intercreditor Agreement or any Liquidity Facility to which such Trustee is a party, or exercising any trust or power conferred on the
Trustee under this Agreement or such Intercreditor Agreement or Liquidity Facility, including any right of the Trustee as Controlling Party under such Intercreditor Agreement or as holder of the Equipment Notes held in the related Trust; provided
that: 
 (1) such Direction shall not in the opinion of the Trustee be in conflict with any rule of law or with this
Agreement, and such Direction would not involve the Trustee in personal liability or expense unless such Certificateholders shall have offered to the Trustee reasonable security or indemnity against the cost, expenses and liabilities which might be
incurred by it in compliance with such Direction; 
 (2) the Trustee shall not determine that the action so directed would be
unjustly prejudicial to the Certificateholders of such series not taking part in such Direction; 
 (3) the Trustee may take
any other action deemed proper by the Trustee which is not inconsistent with such Direction; and 
 (4) if an Indenture Event
of Default under a related Indenture shall have occurred and be continuing, such direction shall not obligate the Trustee to vote more than a corresponding majority of the related Equipment Notes held by the Trust in favor of directing any action by
the related Loan Trustee with respect to such Indenture Event of Default. 
 Section 6.05 Waiver of Past Defaults. Subject to any
related Intercreditor Agreement, the Certificateholders holding Certificates of a series evidencing Fractional Undivided Interests aggregating not less than a majority in interest in the related Trust (i) may on behalf of all of the

  
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Certificateholders of such series waive any past default or Event of Default hereunder and its consequences or (ii) if the Trustee is the Controlling Party, may direct the Trustee to
instruct the applicable Loan Trustee to waive any past Indenture default, Indenture Event of Default or, if applicable, the corresponding Lease default, under any related Indenture and its consequences, and thereby annul any Direction given by such
Certificateholders or the Trustee to such Loan Trustee with respect thereto, except a default: 
 (1) in the deposit of any
Scheduled Payment or Special Payment under Section 4.01 or in the distribution of any payment under Section 4.02 on the Certificates of a series; or 

(2) in the payment of the principal of, premium, if any, or interest, if any, on the Equipment Notes held in the related Trust;
or in respect of a covenant or provision hereof which under Article IX hereof cannot be modified or amended without the consent of each Certificateholder holding an Outstanding Certificate of the series affected thereby. 

Upon any such waiver, such default shall cease to exist with respect to the Certificates of such series and any Event of Default arising
therefrom shall be deemed to have been cured for every purpose in respect of such series and any direction given by the Trustee on behalf of the Certificateholders of such series to the relevant Loan Trustee shall be annulled with respect thereto;
but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. Upon any such waiver, the Trustee shall vote the Equipment Notes issued under the relevant Indenture to waive the
corresponding Indenture Event of Default (and, if applicable, the corresponding Lease default). 
 Section 6.06 Right of
Certificateholders to Receive Payments Not to Be Impaired. Anything in this Agreement (including Section 6.07) to the contrary notwithstanding, but subject to any related Intercreditor Agreement, the right of any Certificateholder to
receive distributions of payments required pursuant to Section 4.02 hereof on the applicable Certificates when due, or to institute suit for the enforcement of any such payment on or after the applicable Regular Distribution Date or Special
Distribution Date, shall not be impaired or affected without the consent of such Certificateholder. 
 Section 6.07 Certificateholders
May Not Bring Suit Except Under Certain Conditions. A Certificateholder of any series shall not have the right to institute any suit, action or proceeding at law or in equity or otherwise with respect to this Agreement for the appointment of a
receiver or for the enforcement of any other remedy under this Agreement, unless: 
 (1) such Certificateholder previously
shall have given written notice to the Trustee of a continuing Event of Default; 
 (2) Certificateholders holding
Certificates of such series evidencing Fractional Undivided Interests aggregating not less than 25% of the related Trust shall have requested the Trustee in writing to institute such action, suit or proceeding and shall have offered to the Trustee
indemnity as provided in Section 7.03(e); 

  
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 (3) the Trustee shall have refused or neglected to institute any such action,
suit or proceeding for 60 days after receipt of such notice, request and offer of indemnity; and 
 (4) no direction
inconsistent with such written request shall have been given to the Trustee during such 60-day period by Certificateholders holding Certificates of such series evidencing Fractional Undivided Interests aggregating not less than a majority in
interest in the related Trust. 
 Except to the extent provided in any applicable Intercreditor Agreement or in any applicable Trust
Supplement, it is understood and intended that no one or more of the Certificateholders of any series shall have any right in any manner whatsoever hereunder or under the related Trust Supplement or under the Certificates of such series to
(i) surrender, impair, waive, affect, disturb or prejudice any property in the Trust Property of the related Trust, or the lien of any related Indenture on any property subject thereto, or the rights of the Certificateholders of such series or
the holders of the related Equipment Notes, (ii) obtain or seek to obtain priority over or preference with respect to any other such Certificateholder of such series or (iii) enforce any right under this Agreement, except in the manner
provided in this Agreement and for the equal, ratable and common benefit of all the Certificateholders of such series subject to the provisions of this Agreement. 

Section 6.08 Remedies Cumulative. Every right or remedy given hereunder to the Trustee or to any of the Certificateholders of any
series shall not be exclusive of any other right or remedy or remedies, and every such right or remedy shall be cumulative and in addition to every other right or remedy given hereunder or now or hereafter given by statute, law, equity or otherwise.
No delay or omission by the Trustee or of any such Certificateholder in the exercise of any right, remedy or power or in the pursuance of any remedy shall impair any such right, power or remedy or be construed to be a waiver of any default on the
part of the applicable Owner Trustee, if any, or the Company, as the case may be, or to be an acquiescence therein. 
 Section 6.09
Discontinuance of Proceedings. If the Trustee or any Certificateholder of any Series institutes any proceeding to enforce any right, power or remedy under the related Trust, and such proceeding is discontinued or abandoned for any reason or
is determined adversely to the Trustee or such Certificateholder, then and in every such case the applicable Owner Trustee, if any, and the applicable Indenture Trustee, the Trustee, the Certificateholders of such Series and the Company shall,
subject to any determination in such proceeding, be restored to their former positions and rights under such Trust with respect to the Trust Property and all rights, remedies and powers of the Trustee and such Certificateholders shall continue as if
no such proceeding had been instituted. 
 Section 6.10 Undertaking for Costs. All parties to this Agreement, and each
Certificateholder by acceptance of a Certificate, shall be deemed to have agreed that, in any suit for the enforcement of any right or remedy under this Agreement, or in any suit against the Trustee for any action taken, suffered or omitted by it as
Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs against any such party litigant, in the manner and to the extent provided in the Trust Indenture Act or by any
other applicable law; provided, however, that neither this Section 6.10 nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company. 

  
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 ARTICLE VII. 

THE TRUSTEE 
 Section 7.01
Certain Duties and Responsibilities. (a) Except during the continuance of an Event of Default in respect of a Trust, (1) the Trustee undertakes to perform such duties in respect of such Trust as are specifically set forth in this
Agreement, the Intercreditor Agreement and the Note Documents, and no implied covenants or obligations shall be read into such agreements against the Trustee; and (2) in the absence of bad faith on its part, the Trustee may conclusively rely,
as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Agreement; but in the case of any such certificates or
opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Agreement. 

(b) In case an Event of Default in respect of a Trust has occurred and is continuing, the Trustee shall exercise such of the rights and powers
vested in it by this Agreement in respect of such Trust, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 

(c) No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent
failure to act, or its own willful misconduct, except that: 
 (1) this Subsection (c) shall not be construed to limit
the effect of Subsection (a) of this Section 7.01; and 
 (2) the Trustee shall not be liable for any error of
judgment made in good faith by a Responsible Officer of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts. 

(d) Whether or not herein expressly so provided, every provision of this Agreement relating to the conduct or affecting the liability of or
affording protection to the Trustee shall be subject to the provisions of this Section 7.01. 
 Section 7.02 Notice of Defaults.
As promptly as practicable after, and in any event within 90 days after, the occurrence of any default (as such term is defined below) hereunder known to the Trustee, the Trustee shall transmit by mail to the Company, any related Owner Trustees, any
related Owner Participants, the related Loan Trustees and the Certificateholders holding Certificates of the related series, in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, notice of such default hereunder
known to the Trustee, unless such default shall have been cured or waived; provided that, in the case of defaults not relating to the payment of money, the Trustee shall not give such notice until the earlier of the time at which such default
becomes an Event of Default and the expiration of 60 days from the occurrence of such default; and provided, however, that, except in the case of a default in the payment of the 

  
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principal, premium, if any, or interest on any Equipment Note, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a
trust committee of directors and/or Responsible Officers of the Trustee in good faith shall determine that the withholding of such notice is in the interests of the Certificateholders of the related series. For the purpose of this Section 7.02
in respect of any Trust, the term “default” means any event that is, or after notice or lapse of time or both would become, an Event of Default in respect of that Trust or a Triggering Event under any Intercreditor Agreement. 

Section 7.03 Certain Rights of Trustee. Subject to the provisions of Section 315 of the Trust Indenture Act: 

(a) the Trustee may rely and shall be protected in acting or refraining from acting in reliance upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 

(b) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Request; 

(c) whenever in the administration of this Agreement or any Intercreditor Agreement the Trustee shall deem it desirable that a matter be
proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officer’s Certificate of the
Company, any related Owner Trustee or any related Loan Trustee; 
 (d) the Trustee may consult with counsel and the advice of such counsel
or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(e) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Agreement or any Intercreditor
Agreement at the Direction of any of the Certificateholders pursuant to this Agreement or any Intercreditor Agreement, unless such Certificateholders shall have offered to the Trustee reasonable security or indemnity against the cost, expenses and
liabilities which might be incurred by it in compliance with such Direction; 
 (f) the Trustee shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document; 

(g) the Trustee may execute any of the trusts or powers under this Agreement or any Intercreditor Agreement or perform any duties under this
Agreement or any Intercreditor Agreement either directly or by or through agents or attorneys, and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it under this
Agreement or any Intercreditor Agreement; 
 (h) the Trustee shall not be liable with respect to any action taken or omitted to be taken by
it in good faith in accordance with the Direction of the Certificateholders holding Certificates of any series evidencing Fractional Undivided Interests aggregating not less than a 

  
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majority in interest in the related Trust relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred
upon the Trustee, under this Agreement or any Intercreditor Agreement; and 
 (i) the Trustee shall not be required to expend or risk its
own funds in the performance of any of its duties under this Agreement, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk is not
reasonably assured to it. 
 Section 7.04 Not Responsible for Recitals or Issuance of Certificates. The recitals contained herein and
in the Certificates of each series, except the certificates of authentication, shall not be taken as the statements of the Trustee, and the Trustee assumes no responsibility for their correctness. Subject to Section 7.15, the Trustee makes no
representations as to the validity or sufficiency of this Basic Agreement, any Equipment Notes, any Intercreditor Agreement, any Liquidity Facility to which the Trustee may be a party, the Certificates of any series, any Trust Supplement or any Note
Documents, except that the Trustee hereby represents and warrants that this Basic Agreement has been, and each Trust Supplement, each Certificate, each Note Purchase Agreement, each Intercreditor Agreement and any such Liquidity Facility of, or
relating to, each series will be, executed and delivered by one of its officers who is duly authorized to execute and deliver such document on its behalf. 

Section 7.05 May Hold Certificates. The Trustee, any Paying Agent, Registrar or any of their Affiliates or any other agent, in their
respective individual or any other capacity, may become the owner or pledgee of Certificates and, subject to Sections 310(b) and 311 of the Trust Indenture Act, if applicable, may otherwise deal with the Company, the Parent, any Owner Trustees, any
Owner Participants or the Loan Trustees with the same rights it would have if it were not Trustee, Paying Agent, Registrar or such other agent. 

Section 7.06 Money Held in Trust. Money held by the Trustee or the Paying Agent in trust under this Agreement need not be segregated
from other funds except to the extent required herein or by law and neither the Trustee nor the Paying Agent shall have any liability for interest upon any such moneys except as provided for herein or in the applicable Trust Supplement. 

Section 7.07 Compensation and Reimbursement. The Company agrees: 

(1) to pay, or cause to be paid, to the Trustee from time to time such compensation for all services rendered by it hereunder
as the Company and the Trustee may agree in writing from time to time (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); and 

(2) except as otherwise expressly provided herein or in any Trust Supplement, to reimburse, or cause to be reimbursed, the
Trustee upon its request for all reasonable out-of-pocket expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Basic Agreement, any Trust Supplement, any Intercreditor Agreement or any
Liquidity Facility to which the Trustee may be a party (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to the
Trustee’s negligence, willful misconduct or bad faith or as may be incurred due to the Trustee’s breach of its representations and warranties set forth in Section 7.15; and 

  
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 (3) to indemnify, or cause to be indemnified, the Trustee, solely in its
individual capacity, for, and to hold it harmless against, any loss, liability, tax (other than any tax referred to in the next paragraph or any tax attributable to the Trustee’s compensation for serving as such), cost or expense incurred
without negligence, willful misconduct or bad faith on its part, arising out of or in connection with the acceptance or administration of any Trust, including the costs and expenses of (a) defending itself against any claim or liability in
connection with the exercise or performance of any of its powers or duties hereunder or under any Trust Supplement or (b) contesting the imposition of any such tax, except in each case for any such loss, liability, tax, cost or expense incurred
by reason of the Trustee’s breach of its representations and warranties set forth in Section 7.15 or in any Trust Supplement or the Trustee’s failure to perform any of its obligations hereunder or under any Trust Supplement. The
Trustee shall notify the Company promptly of any claim or tax for which it may seek indemnity. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have separate counsel with the consent of the Company
and the Company will pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made or any taxes paid, in settlement or otherwise, without its consent. 

The Trustee shall be entitled to reimbursement from, and shall have a lien prior to the Certificates of each series upon, all property and
funds held or collected by the Trustee in its capacity as Trustee with respect to such series or the related Trust for any tax incurred without negligence, bad faith or willful misconduct, on its part, arising out of or in connection with the
acceptance or administration of such Trust (other than any tax attributable to the Trustee’s compensation for serving as such), including any costs and expenses incurred in contesting the imposition of any such tax. The Trustee shall notify the
Company of any claim for any tax for which it may seek reimbursement. If the Trustee reimburses itself from the Trust Property of such Trust for any such tax, it will mail a brief report within 30 days setting forth the amount of such tax and the
circumstances thereof to all Certificateholders of such series as their names and addresses appear in the Register. 
 Section 7.08
Corporate Trustee Required; Eligibility. Each Trust shall at all times have a Trustee which shall be a bank, trust company or other financial institution organized and doing business under the laws of the United States or any state thereof,
shall be eligible to act as a trustee under Section 310(a) of the Trust Indenture Act and shall have a combined capital and surplus of at least $100,000,000 (or a combined capital and surplus in excess of $5,000,000 and the obligations of
which, whether now in existence or hereafter incurred, are fully and unconditionally guaranteed by a corporation organized and doing business under the laws of the United States or any state or territory thereof or the District of Columbia and
having a combined capital and surplus of at least $100,000,000). If such bank, trust company or other financial institution or such corporation publishes reports of conditions at least annually, pursuant to law or to the requirements of federal,
state, territorial or District of Columbia supervising or examining authority, then for the purposes of this Section 7.08 the combined capital and surplus of such bank, trust company or other financial institution or such corporation shall be
deemed to be its combined capital and surplus as set forth in its most recent report of conditions so published. 

  
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 In case at any time the Trustee shall cease to be eligible in accordance with the provisions of
this Section 7.08 to act as Trustee of any Trust, the Trustee shall resign immediately as Trustee of such Trust in the manner and with the effect specified in Section 7.09. If the Trustee has or shall acquire a conflicting interest within
the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Agreement. 

Section 7.09 Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of
a successor Trustee of any Trust pursuant to this Article VII shall become effective until the acceptance of appointment by the successor Trustee under Section 7.10. 

(b) The Trustee may resign at any time as Trustee of any or all Trusts by giving prior written notice thereof to the Company, the Authorized
Agents, any related Owner Trustees and the related Loan Trustees. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Company, any related Owner Trustees and the Trustee within 30 days after the giving of such
notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

(c) The Trustee may be removed at any time as Trustee of any Trust by Direction of the Certificateholders of the related series holding
Certificates of such series evidencing Fractional Undivided Interests aggregating not less than a majority in interest in such Trust delivered to the Trustee and to the Company, any related Owner Trustees and the related Loan Trustees. 

(d) If at any time in respect of any Trust: 

(1) the Trustee shall fail to comply with Section 310(b) of the Trust Indenture Act, if applicable, after written request
therefor by the Company or by any Certificateholder who has been a bona fide Certificateholder for at least six months; or 

(2) the Trustee shall cease to be eligible under Section 7.08 and shall fail to resign after written request therefor by
the Company or by any such Certificateholder; or 
 (3) the Trustee shall become incapable of acting or shall be adjudged a
bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation;
then, in any such case, (i) the Company may remove the Trustee or (ii) any Certificateholder of the related series who has been a bona fide Certificateholder for at least six months may, on behalf of itself and all others similarly
situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee of such Trust. 

(e) If a Responsible Officer of the Trustee shall obtain actual knowledge of an Avoidable Tax (as defined below) in respect of any Trust which
has been or is likely to be 

  
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asserted, the Trustee shall promptly notify the Company and shall, within 30 days of such notification, either relocate the administration of the Trust to another jurisdiction as described in the
definition of “Avoidable Tax” or resign as Trustee of such Trust hereunder unless within such 30-day period the Trustee shall have received notice that the Company has agreed to pay such tax. Provided that there is a corporation in a
jurisdiction where there are no Avoidable Taxes that is willing to act as Trustee and is eligible under Section 7.08, the Company shall promptly after any such resignation by such Trustee appoint a successor Trustee of such Trust in a
jurisdiction where there are no Avoidable Taxes. As used herein, an “Avoidable Tax” in respect of such Trust means a state or local tax: (i) upon (w) such Trust, (x) the Trust Property of such Trust,
(y) Certificateholders of such Trust or (z) the Trustee for which the Trustee is entitled to seek reimbursement from the Trust Property of such Trust, and (ii) which would be avoided if the Trust were administered in a different
jurisdiction in the United States or if the Trustee were located in another state, or jurisdiction within a state, within the United States. A tax shall not be an Avoidable Tax in respect of any Trust if the Company or any Owner Trustee shall agree
to pay, and shall pay, such tax. 
 (f) If the Trustee shall resign, be removed or become incapable of acting as Trustee of any Trust or if
a vacancy shall occur in the office of the Trustee of any Trust for any cause, the Company shall promptly appoint a successor Trustee of such Trust. If, within one year after such resignation, removal or incapability, or other occurrence of such
vacancy, a successor Trustee of such Trust shall be appointed by Direction of the Certificateholders of the related series holding Certificates of such series evidencing Fractional Undivided Interests aggregating not less than a majority in interest
in such Trust delivered to the Company, any related Owner Trustees, the related Loan Trustee and the retiring Trustee, then the successor Trustee of such Trust so appointed shall, with the approval of the Company of such appointment, which approval
shall not be unreasonably withheld, forthwith upon its acceptance of such appointment, become the successor Trustee of such Trust and supersede the successor Trustee of such Trust appointed by the Company as provided above. If no successor Trustee
shall have been so appointed by the Company as provided above and accepted appointment in the manner hereinafter provided, the resigning Trustee or any Certificateholder who has been a bona fide Certificateholder of the related series for at least
six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee of such Trust. 

(g) The successor Trustee of a Trust shall give notice of the resignation and removal of the Trustee and appointment of the successor Trustee
by mailing written notice of such event by first-class mail, postage prepaid, to the Certificateholders of the related series as their names and addresses appear in the Register. Each notice shall include the name of such successor Trustee and the
address of its Corporate Trust Office. 
 Section 7.10 Acceptance of Appointment by Successor. Every successor Trustee appointed
hereunder shall execute and deliver to the Company and to the retiring Trustee with respect to any or all Trusts an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee with respect to such Trust or
Trusts shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to such Trust or Trusts; but, on request
of the Company or the successor Trustee, such retiring Trustee 

  
 40 

 
shall execute and deliver an instrument transferring to such successor Trustee all such rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such
successor Trustee all Trust Property held by such retiring Trustee in respect of such Trusts hereunder (subject nevertheless to its lien, if any, provided for in Section 7.07) and all books and records, or true, correct and complete copies
thereof, held by such retiring Trustee in respect of such Trusts hereunder. Upon request of any such successor Trustee, the Company, the retiring Trustee and such successor Trustee shall execute and deliver any and all instruments containing such
provisions as shall be necessary or desirable to transfer and confirm to, and for more fully and certainly vesting in, such successor Trustee all such rights, powers and trusts. 

If a successor Trustee is appointed with respect to one or more (but not all) Trusts, the Company, the predecessor Trustee and each successor
Trustee with respect to any Trust shall execute and deliver a supplemental agreement hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all of the rights, powers, trusts and duties of the predecessor
Trustee with respect to the Trusts as to which the predecessor Trustee is not retiring shall continue to be vested in the predecessor Trustee, and shall add to or change any of the provisions of this Basic Agreement and the applicable Trust
Supplements as shall be necessary to provide for or facilitate the administration of the Trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental agreement shall constitute such Trustees as
co-Trustees of the same Trust and that each such Trustee shall be Trustee of separate Trusts. 
 No institution shall accept its appointment
as a successor Trustee hereunder unless at the time of such acceptance such institution shall be qualified and eligible under this Article VII. 

Section 7.11 Merger, Conversion, Consolidation or Succession to Business. Any corporation into which the Trustee may be merged or
converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust
business of the Trustee, shall be the successor of the Trustee hereunder, provided that such corporation shall be otherwise qualified and eligible under this Article VII, without the execution or filing of any paper or any further act on the part of
any of the parties hereto. In case any Certificates shall have been executed or authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such
execution or authentication and deliver the Certificates so executed or authenticated with the same effect as if such successor Trustee had itself executed or authenticated such Certificates. 

Section 7.12 Maintenance of Agencies. (a) With respect to each series of Certificates, there shall at all times be maintained an
office or agency in the location set forth in Section 12.04 or at such other location as may be specified in the applicant Trust Supplement where Certificates of such series may be presented or surrendered for registration of transfer or for
exchange, and for payment thereof, and where notices and demands to or upon the Trustee in respect of such Certificates or this Agreement may be served; provided that, if it shall be necessary that the Trustee maintain an office or agency in another
location with respect to the Certificates of any series (e.g., the Certificates of such series shall be represented by Definitive Certificates and shall be listed on a national securities exchange), the Trustee will make all

  
 41 

 
reasonable efforts to establish such an office or agency. Written notice of the location of each such other office or agency and of any change of location thereof shall be given by the Trustee to
the Company, any Owner Trustees, the Loan Trustees (in the case of any Owner Trustee or Loan Trustee, at its address specified in the Note Documents or such other address as may be notified to the Trustee) and the Certificateholders of such series.
In the event that no such office or agency shall be maintained or no such notice of location or of change of location shall be given, presentations and demands may be made and notices may be served at the Corporate Trust Office of the Trustee. 

(b) There shall at all times be a Registrar and a Paying Agent hereunder with respect to the Certificates of each series. Each such Authorized
Agent shall be a bank, trust company or other financial institution organized and doing business under the laws of the United States or any state thereof, with a combined capital and surplus of at least $100,000,000 (or combined capital and surplus
in excess of $5,000,000, the obligations of which are fully and unconditionally guaranteed by a corporation organized and doing business under the laws of the United States or any state or territory thereof or the District of Columbia, with a
combined capital and surplus of at least $100,000,000), and shall be authorized under such laws to exercise corporate trust powers, subject to supervision by federal or state authorities. The Trustee shall initially be the Paying Agent and, as
provided in Section 3.04, Registrar hereunder with respect to the Certificates of each series. Each Registrar other than the Trustee shall furnish to the Trustee, at stated intervals of not more than six months, and at such other times as the
Trustee may request in writing, a copy of the Register maintained by such Registrar. 
 (c) Any corporation, bank or trust company into
which any Authorized Agent may be merged or converted or with which it may be consolidated, or any corporation, bank or trust company resulting from any merger, consolidation or conversion to which any Authorized Agent shall be a party, or any
corporation, bank or trust company succeeding to the corporate trust business of any Authorized Agent, shall be the successor of such Authorized Agent, if such successor is otherwise eligible under this Section 7.12, without the execution or
filing of any paper or any further act on the part of the parties hereto or such Authorized Agent or such successor. 
 (d) Any Authorized
Agent may at any time resign by giving written notice of resignation to the Trustee, the Company, any related Owner Trustees and the related Loan Trustees. The Company may, and at the request of the Trustee shall, at any time terminate the agency of
any Authorized Agent by giving written notice of termination to such Authorized Agent and to the Trustee. Upon the resignation or termination of an Authorized Agent or in case at any time any such Authorized Agent shall cease to be eligible under
this Section 7.12 (when, in either case, no other Authorized Agent performing the functions of such Authorized Agent shall have been appointed), the Company shall promptly appoint one or more qualified successor Authorized Agents, reasonably
satisfactory to the Trustee, to perform the functions of the Authorized Agent which has resigned or whose agency has been terminated or who shall have ceased to be eligible under this Section 7.12. The Company shall give written notice of any
such appointment made by it to the Trustee, any related Owner Trustees and the related Loan Trustees; and in each case the Trustee shall mail notice of such appointment to all Certificateholders of the related series as their names and addresses
appear on the Register for such series. 

  
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 (e) The Company agrees to pay, or cause to be paid, from time to time to each Authorized Agent
such compensation for its services as the Company and the Trustee may agree in writing from time to time and to reimburse it for its reasonable expenses to the extent set forth in Section 7.07(2). 

Section 7.13 Money for Certificate Payments to Be Held in Trust. All moneys deposited with any Paying Agent for the purpose of any
payment on Certificates shall be deposited and held in trust for the benefit of the Certificateholders entitled to such payment, subject to the provisions of this Section 7.13. Moneys so deposited and held in trust shall constitute a separate
trust fund for the benefit of the Certificateholders with respect to which such money was deposited. 
 The Trustee may at any time, for the
purpose of obtaining the satisfaction and discharge of this Agreement or for any other purpose, direct any Paying Agent to pay to the Trustee all sums held in trust by such Paying Agent, such sums to be held by the Trustee upon the same trusts as
those upon which such sums were held by such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

Section 7.14 Registration of Equipment Notes in Trustee’s Name. Subject to the provisions of any Intercreditor Agreement and
Section 12.03 hereof, the Trustee agrees that all Equipment Notes to be purchased by any Trust, Specified Investments, if any, to be held by the Trustee on behalf of a Trust and Permitted Investments, if any, to be held by the Trustee on behalf
of a Trust shall be issued in the name of the Trustee as trustee for the applicable Trust or its nominee and held by the Trustee in trust for the benefit of the Certificateholders of such series, or, if not so held, the Trustee or its nominee shall
be reflected as the owner of such Equipment Notes, Specified Investments or Permitted Investments, as the case may be, in the register of the issuer of such Equipment Notes, Specified Investments or Permitted Investments, as the case may be. In no
event shall the Trustee invest in, or hold, Equipment Notes, Specified Investments or Permitted Investments in a manner that would cause the Trustee not to have the ownership interest in (or a securities entitlement with respect to) such Equipment
Notes, Specified Investments or Permitted Investments under the applicable provisions of the Uniform Commercial Code in effect where the Trustee holds such Equipment Notes, Specified Investments or Permitted Investments or other applicable law then
in effect. 
 Section 7.15 Representations and Warranties of Trustee. The Trustee hereby represents and warrants that: 

(a) the Trustee is a trust company duly organized and validly existing in good standing under the laws of the State of Delaware; 

(b) the Trustee has full power, authority and legal right to execute, deliver and perform this Agreement, any Intercreditor Agreement, any
Liquidity Facility, the Certificates and the Note Purchase Agreements and has taken all necessary action to authorize the execution, delivery and performance by it of this Agreement, any Intercreditor Agreement, any Liquidity Facility, the
Certificates and the Note Purchase Agreements; 

  
 43 

 (c) the execution, delivery and performance by the Trustee of this Agreement, any Intercreditor
Agreement, any Liquidity Facility, the Certificates and the Note Purchase Agreements (i) will not violate any provision of any United States federal law governing its trust powers or the law of the state of the United States where such Trustee
is located and which governs the trust powers of the Trustee or any order, writ, judgment, or decree of any court, arbitrator or governmental authority applicable to the Trustee or any of its assets, (ii) will not violate any provision of the
charter or by-laws of the Trustee, and (iii) will not violate any provision of, or constitute, with or without notice or lapse of time or both, a default under, or result in the creation or imposition of any lien on any properties included in
the Trust Property pursuant to the provisions of any mortgage, indenture, contract, agreement or other undertaking to which it is a party; 

(d) the execution, delivery and performance by the Trustee of this Agreement, any Intercreditor Agreement, any Liquidity Facility, the
Certificates and the Note Purchase Agreements will not require the authorization, consent, or approval of, the giving of notice to, the filing or registration with, or the taking of any other action in respect of, any governmental authority or
agency of the United States or the state of the United States where such Trustee is located and regulating the corporate trust activities of the Trustee, other than the filing of a Statement of Eligibility on Form T-1 in connection with the
registration of any Certificates; 
 (e) this Agreement, any Intercreditor Agreement, any Liquidity Facility, the Certificates and the Note
Purchase Agreements have been or will be duly executed and delivered by the Trustee and constitute or upon such execution and delivery will constitute the legal, valid and binding agreements of the Trustee, enforceable against it in accordance with
their respective terms; provided, however, that enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the rights of creditors generally, and (ii) general principles of
equity; and 
 (f) the statements made by it in a Statement of Eligibility on Form T-1 supplied or to be supplied to the Company in
connection with the registration of any Certificates are and will be true and accurate subject to the qualifications set forth therein; and that such statement complies and will comply in all material respects with the requirements of the Trust
Indenture Act and the Securities Act. 
 The representation and warranties set forth above shall be deemed to be made by the Trustee on each
Issuance Date, except as otherwise provided in the applicable Trust Supplement. 
 Section 7.16 Withholding Taxes; Information
Reporting. As to the Certificates of any series, the Trustee, as trustee of the related grantor trust created by this Agreement, shall exclude and withhold from each distribution of principal, premium, if any, and interest and other amounts due
under this Agreement or under the Certificates of such series any and all withholding taxes applicable thereto as required by law. The Trustee agrees to act as such withholding agent and, in connection therewith, whenever any present or future taxes
or similar charges are required to be withheld with respect to any amounts payable in respect of the Certificates of such series, to withhold such amounts and timely pay the same to the appropriate authority in the name of and on behalf of the
Certificateholders of such series, that it will file any necessary withholding tax returns or statements when due, and that, as promptly as possible after the payment thereof, it 

  
 44 

 
will deliver to each such Certificateholder of such series appropriate documentation showing the payment thereof, together with such additional documentary evidence as such Certificateholders may
reasonably request from time to time. The Trustee agrees to file any other information reports as it may be required to file under United States law. 

Section 7.17 Trustee’s Liens. The Trustee in its individual capacity agrees that it will, in respect of each Trust created by this
Agreement, at its own cost and expense (and without right of indemnity hereunder, including Section 7.07), promptly take any action as may be necessary to duly discharge and satisfy in full any mortgage, pledge, lien, charge, encumbrance,
security interest or claim (“Trustee’s Liens”) on or with respect to the Trust Property of such Trust which is attributable to the Trustee either (i) in its individual capacity and which is unrelated to the transactions
contemplated by this Agreement or the related Note Documents or (ii) as Trustee hereunder or in its individual capacity and which arises out of acts or omissions which are not contemplated by this Agreement. 

Section 7.18 Preferential Collection of Claims. The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding
any creditor relationship listed in Section 311(b) of the Trust Indenture Act. If the Trustee shall resign or be removed as Trustee, it shall be subject to Section 311(a) of the Trust Indenture Act to the extent provided therein. 

Section 7.19 Capacity in Which Acting. The Trustee acts hereunder and under any Trust not in its individual capacity but solely as
trustee except as expressly provided herein or in the related Trust Supplement. 
 ARTICLE VIII. 

CERTIFICATEHOLDERS’ LISTS AND REPORTS BY TRUSTEE 

Section 8.01 The Company to Furnish Trustee with Names and Addresses of Certificateholders. With respect to the Certificates of each
series, the Company will furnish (or cause to be furnished) to the Trustee within 15 days after each Record Date with respect to a Scheduled Payment (and, in any case, at intervals of not more than six months), and at such other times as the Trustee
may request in writing within 30 days after receipt by the Company of any such request, a list, in such form as the Trustee may reasonably require, of all information in the possession or control of the Company as to the names and addresses of the
Certificateholders of such series, in each case as of a date not more than 15 days prior to the time such list is furnished; provided, however, that so long as the Trustee is the sole Registrar for such series, no such list need be furnished; and
provided further, that no such list need be furnished for so long as a copy of the Register is being furnished to the Trustee pursuant to Section 7.12. 

Section 8.02 Preservation of Information; Communications to Certificateholders. The Trustee shall preserve, in as current a form as is
reasonably practicable, the names and addresses of Certificateholders of each series contained in the most recent list furnished to the Trustee as provided in Section 7.12 or Section 8.01, as the case may be, and the names and addresses of
Certificateholders of each series received by the Trustee in its capacity as Registrar, if so acting. The Trustee may destroy any list furnished to it as provided in Section 7.12 or Section 8.01, as the case may be, upon receipt of a new
list so furnished. 

  
 45 

 Section 8.03 Reports by Trustee. Within 60 days after May 15 of each year commencing
with the first full year following the issuance of any series of Certificates, the Trustee shall transmit to the Certificateholders of such series, as provided in Section 313(c) of the Trust Indenture Act, a brief report dated as of such
May 15, if required by and in compliance with Section 313(a) of the Trust Indenture Act. The Trustee shall also transmit to Certificateholders such reports, if any, as may be required pursuant to Section 313(b) of the Trust Indenture
Act at the times and in the manner provided pursuant thereto and to Section 313(c) thereof. 
 Section 8.04 Reports by the
Company. The Company shall: 
 (a) file with the Trustee, within 30 days after the Company is required to file the same with the SEC,
copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the SEC may from time to time by rules and regulations prescribe) which the Company is required to file with the
SEC pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934, as amended; or, if the Company is not required to file information, documents or reports pursuant to either of such sections, then to file with the Trustee and the
SEC, in accordance with rules and regulations prescribed by the SEC, such of the supplementary and periodic information, documents and reports which may be required pursuant to section 13 of the Securities Exchange Act of 1934, as amended, in
respect of a security listed and registered on a national securities exchange as may be prescribed in such rules and regulations; provided, that the Company may fulfill the requirements of this Section 8.04(a) by providing the material
described herein in an electronic format by electronic mail or accessible over the internet; 
 (b) file with the Trustee and the SEC, in
accordance with the rules and regulations prescribed by the SEC, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants of the Company provided for in this Agreement, as may be
required by such rules and regulations; 
 (c) transmit to all Certificateholders, in the manner and to the extent provided in
Section 313(c) of the Trust Indenture Act, such summaries of any information, documents and reports required to be filed by the Company pursuant to subsections (a) and (b) of this Section 8.04 as may be required by rules and
regulations prescribed by the SEC; and 
 (d) furnish to the Trustee, not less often than annually, a brief certificate from the principal
executive officer, principal financial officer or principal accounting officer as to his or her knowledge of the Company’s compliance with all conditions and covenants of the Company under this Agreement (it being understood that for purposes
of this paragraph (d), such compliance shall be determined without regard to any grace period or requirement of notice provided under this Agreement). 

  
 46 

 ARTICLE IX. 

SUPPLEMENTAL AGREEMENTS 
 Section
9.01 Supplemental Agreements Without Consent of Certificateholders. Without the consent of any Certificateholders, the Company may (but will not be required to), and the Trustee (subject to Section 9.03) shall, at the Company’s
request, at any time and from time to time, enter into one or more agreements supplemental hereto or, if applicable, to an Intercreditor Agreement, a Note Purchase Agreement, a Liquidity Facility or a Parent Guarantee, for any of the following
purposes: 
 (1) to provide for the formation of a Trust, the issuance of a series of Certificates and other matters
contemplated by Section 2.01(b) or to add, or to change or eliminate, any provision affecting a series of Certificates not yet issued, including to make appropriate provisions for a Parent Guarantee; or 

(2) to evidence the succession of another Person to the Company and the assumption by any such successor of the covenants of
the Company contained in this Agreement or of the Company’s obligations under any Intercreditor Agreement, any Note Purchase Agreement or any Liquidity Facility or, if applicable, to evidence the succession of another Person to the Parent and
the assumption by any such successor of the covenants of the Parent contained in this Agreement or of the Parent’s obligations under any Parent Guarantee; or 

(3) to add to the covenants of the Company or the Parent for the benefit of the Certificateholders of any series, or to
surrender any right or power conferred upon the Company or the Parent in this Agreement, any Note Purchase Agreement, any Intercreditor Agreement, any Liquidity Facility or any Parent Guarantee; or 

(4) to cure any ambiguity or to correct any mistake or inconsistency contained in the Certificates of any series, in this Basic
Agreement or in any related Trust Supplement, any Intercreditor Agreement, any Note Purchase Agreement, any Liquidity Facility or any Parent Guarantee; or 

(5) to make or modify any other provision in regard to matters or questions arising under the Certificates of any series, this
Basic Agreement or any related Trust Supplement, any Intercreditor Agreement, any Note Purchase Agreement, any Liquidity Facility or any Parent Guarantee as the Company may deem necessary or desirable and that will not materially adversely affect
the interests of the related Certificateholders; or 
 (6) to comply with any requirement of the SEC, any applicable law,
rules or regulations of any exchange or quotation system on which the Certificates of any series are listed or of any regulatory body; or 

(7) to modify, eliminate or add to the provisions of this Agreement, any Intercreditor Agreement, any Liquidity Facility or any
Parent Guarantee to such extent as shall be necessary to continue or obtain the qualification of this Agreement (including any supplemental agreement), any Intercreditor Agreement, any Liquidity Facility or any Parent Guarantee under the Trust
Indenture Act or under any similar Federal statute 

  
 47 

 
hereafter enacted, and to add to this Agreement, any Intercreditor Agreement, any Liquidity Facility or any Parent Guarantee such other provisions as may be expressly permitted by the Trust
Indenture Act, excluding, however, the provisions referred to in Section 316(a)(2) of the Trust Indenture Act as in effect at the date as of which this Basic Agreement was executed or any corresponding provision in any similar Federal statute
hereafter enacted; or 
 (8) to evidence and provide for the acceptance of appointment by a successor Trustee under this
Agreement, any Intercreditor Agreement, any Note Purchase Agreement, any Indenture, any Liquidity Facility or any Parent Guarantee with respect to one or more Trusts and to add to or change any of the provisions of this Agreement, any Intercreditor
Agreement, any Liquidity Facility or any Parent Guarantee as shall be necessary to provide for or facilitate the administration of the Trust hereunder and thereunder by more than one Trustee, pursuant to the requirements of Section 7.10, or to
provide multiple Liquidity Facilities with respect to one or more Trusts; or 
 (9) to provide the information required under
Section 7.12 and Section 12.04 as to the Trustee; or 
 (10) to add to or change any of the provisions of the
Certificates of any series, this Basic Agreement or any Trust Supplement to such extent as shall be necessary to facilitate the issuance of Certificates of such series in bearer form or to facilitate or provide for the issuance of Certificates of
such series in global form in addition to or in place of Certificates in certificated form; or 
 (11) to provide for the
delivery of agreements supplemental hereto or the Certificates of any series in or by any means of any computerized, electronic or other medium, including without limitation by computer diskette; or 

(12) to correct or supplement the description of any property constituting property of such Trust; or 

(13) to modify, eliminate or add to the provisions of this Basic Agreement, any Trust Supplement or any applicable Note
Purchase Agreement in order to reflect the substitution of a Substitute Aircraft for any aircraft; or 
 (14) to comply with
any requirement of the SEC in connection with the qualification of this Agreement, any Parent Guarantee or any other agreement or instrument related to the Certificates of any series under the Trust Indenture Act; or 

(15) to make any other amendments or modifications hereto, provided that such amendments or modifications shall only apply to
Certificates of one or more series to be thereafter issued; 
 provided, however, that, except to the extent otherwise provided in the applicable
supplemental agreement, unless there shall have been obtained from each Rating Agency written confirmation that such supplemental agreement would not result in a reduction of the rating for any class of Certificates below the then current rating for
such class of Certificates or a withdrawal or 

  
 48 

 
suspension of the rating of any class of Certificates, the Company shall provide the Trustee with an opinion of counsel (i) if an Event of Default shall have occurred and be continuing, to
the effect that such supplemental agreement will not cause the Trust to become an association taxable as a corporation for United States federal income tax purposes or (ii) in other circumstances, to the effect that such supplemental agreement
will not cause the Trust to be treated as other than a grantor trust for United States federal income tax purposes. 
 Section 9.02
Supplemental Agreements with Consent of Certificateholders. With respect to each separate Trust and the series of Certificates relating thereto, with the consent of the Certificateholders holding Certificates of such series (including
consents obtained in connection with a consent solicitation, tender offer or exchange offer for the Certificates) evidencing Fractional Undivided Interests aggregating not less than a majority in interest in such Trust, by Direction of said
Certificateholders delivered to the Company and the Trustee, the Company and, if applicable, the Parent may (with the consent of the Owner Trustees, if any, relating to such Certificates, which consent shall not be unreasonably withheld), but shall
not be obligated to, and the Trustee (subject to Section 9.03) shall, enter into an agreement or agreements supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this
Agreement, any Intercreditor Agreement, any Liquidity Facility or any Parent Guarantee to the extent applicable to such Certificateholders or of modifying in any manner the rights and obligations of such Certificateholders under this Agreement, any
Intercreditor Agreement, any Liquidity Facility or any Parent Guarantee; provided, however, that no such agreement shall, without the consent of the Certificateholder of each Outstanding Certificate adversely affected thereby: 

(1) reduce in any manner the amount of, or delay the timing of, any receipt by the Trustee of payments on the Equipment Notes
held in such Trust or distributions that are required to be made herein on any Certificate of such series, or change any date of payment on any Certificate of such series, or change the place of payment where, or the coin or currency in which, any
Certificate of such series is payable (other than as provided for in such Certificate), or impair the right to institute suit for the enforcement of any such payment or distribution on or after the Regular Distribution Date or Special Distribution
Date applicable thereto; or 
 (2) except as permitted by this Agreement or the applicable Intercreditor Agreement or
Liquidity Facility, permit the disposition of any Equipment Note included in the Trust Property of such Trust or otherwise deprive such Certificateholder of the benefit of the ownership of the Equipment Notes in such Trust; or 

(3) alter the priority of distributions specified in the relevant Intercreditor Agreement, if any, in a manner materially
adverse to the interests of the Certificateholders of any series; or 
 (4) modify any of the provisions of this
Section 9.02 with respect to such series of Certificates, except to increase the specified percentage of the aggregate Fractional Undivided Interests of such Trust that is required for any supplemental agreement as set forth therein, or to
provide that certain other provisions of this Agreement cannot be modified or waived without the consent of the Certificateholder of each Certificate of such series affected thereby; or 

  
 49 

 (5) cause any Trust to become an association taxable as a corporation for United
States federal income tax purposes. 
 It shall not be necessary for any Direction of such Certificateholders under this Section 9.02
to approve the particular form of any proposed supplemental agreement, but it shall be sufficient if such Direction shall approve the substance thereof. 

Section 9.03 Documents Affecting Immunity or Indemnity. If in the opinion of the Trustee any document required to be executed by it
pursuant to the terms of Section 9.01 or 9.02 affects any interest, right, duty, immunity or indemnity in favor of the Trustee under this Basic Agreement or any Trust Supplement, the Trustee may in its discretion decline to execute such
document. 
 Section 9.04 Execution of Supplemental Agreements. In executing, or accepting the additional trusts created by, any
supplemental agreement permitted by this Article IX or the modifications thereby of the trusts created by this Agreement, the Trustee shall be entitled to receive, and shall be fully protected in relying upon, an Opinion of Counsel stating that the
execution of such supplemental agreement is authorized or permitted by this Agreement. 
 Section 9.05 Effect of Supplemental
Agreements. Upon the execution of any agreement supplemental to this Agreement under this Article IX, this Agreement shall be modified in accordance therewith, and such supplemental agreement shall form a part of this Agreement for all purposes,
and every Certificateholder of each series theretofore or thereafter authenticated and delivered hereunder shall be bound thereby to the extent applicable to such series. 

Section 9.06 Conformity with Trust Indenture Act. Every supplemental agreement executed pursuant to this Article IX shall conform to
the requirements of the Trust Indenture Act as then in effect. 
 Section 9.07 Reference in Certificates to Supplemental Agreements.
Certificates of each series authenticated and delivered after the execution of any supplemental agreement applicable to such series pursuant to this Article IX may bear a notation in form approved by the Trustee as to any matter provided for in such
supplemental agreement; and, in such case, suitable notation may be made upon Outstanding Certificates of such series after proper presentation and demand. 

ARTICLE X. 
 AMENDMENTS TO
INDENTURES AND OTHER NOTE DOCUMENTS 
 Section 10.01 Amendments and Supplements to Indentures and Other Note Documents. In the event
that the Trustee, as holder (or beneficial owner through the Subordination Agent) of any Equipment Notes (or as a prospective purchaser of any Postponed Notes) in trust for the benefit of the Certificateholders of any series or as Controlling Party
under an Intercreditor Agreement, receives (directly or indirectly through the Subordination Agent) a request for a consent to any amendment, modification, waiver or supplement under any Indenture or other

  
 50 

 
Note Document, subject to Section 9.01 hereof, the Trustee shall forthwith send a notice of such proposed amendment, modification, waiver or supplement to each Certificateholder of such
series registered on the Register as of the date of such notice. The Trustee shall request from the Certificateholders of such series a Direction as to (a) whether or not to take or refrain from taking (or direct the Subordination Agent to take
or refrain from taking) any action which a holder of (or, with respect to Postponed Notes, a prospective purchaser of) such Equipment Note has the option to direct, (b) whether or not to give or execute (or direct the Subordination Agent to
give or execute) any waivers, consents, amendments, modifications or supplements as a holder of (or, with respect to Postponed Notes, a prospective purchaser of) such Equipment Note or a Controlling Party and (c) how to vote (or direct the
Subordination Agent to vote) any Equipment Note (or, with respect to a Postponed Note, its commitment to acquire such Postponed Note) if a vote has been called for with respect thereto. Provided such a request for Certificateholder Direction shall
have been made, in directing any action or casting any vote or giving any consent as the holder of any Equipment Note (or in directing the Subordination Agent in any of the foregoing), (i) other than as Controlling Party, the Trustee shall vote
for or give consent to any such action with respect to such Equipment Note (or Postponed Note) in the same proportion as that of (A) the aggregate face amount of all Certificates actually voted in favor of or for giving consent to such action
by such Direction of Certificateholders to (B) the aggregate face amount of all Outstanding Certificates and (ii) as Controlling Party, the Trustee shall vote as directed in such Certificateholder Direction by the Certificateholders of
such series evidencing a Fractional Undivided Interest aggregating not less than a majority in interest in the Trust. For purposes of the immediately preceding sentence, a Certificate shall have been “actually voted” if the Holder of such
Certificate has delivered to the Trustee an instrument evidencing such Holder’s consent to such Direction prior to one Business Day before the Trustee directs such action or casts such vote or gives such consent. Notwithstanding the foregoing,
but subject to Section 6.04 and any Intercreditor Agreement, the Trustee may, with respect to the Certificates of any series, in its own discretion and at its own direction, consent and notify the relevant Loan Trustee of such consent (or
direct the Subordination Agent to consent and notify the Loan Trustee of such consent) to any amendment, modification, waiver or supplement under any related Indenture or any other related Note Document if an Event of Default hereunder shall have
occurred and be continuing or if such amendment, modification, waiver or supplement will not materially adversely affect the interests of the Certificateholders of such series. 

ARTICLE XI. 
 TERMINATION OF TRUSTS

 Section 11.01 Termination of the Trusts. In respect of each Trust created by the Basic Agreement as supplemented by a related
Trust Supplement, the respective obligations and responsibilities of the Company and the Trustee and, if applicable, the Parent with respect to such Trust shall terminate upon the distribution to all Holders of Certificates of the series of such
Trust and the Trustee of all amounts required to be distributed to them pursuant to this Agreement and the disposition of all property held as part of the Trust Property of such Trust; provided, however, that in no event shall such Trust continue
beyond the final expiration date determined as provided in such Trust Supplement. 

  
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 Notice of any termination of a Trust, specifying the applicable Regular Distribution Date (or
applicable Special Distribution Date, as the case may be) upon which the Certificateholders of any series may surrender their Certificates to the Trustee for payment of the final distribution and cancellation, shall be mailed promptly by the Trustee
to Certificateholders of such series not earlier than 60 days and not later than 15 days preceding such final distribution specifying (i) the Regular Distribution Date (or Special Distribution Date, as the case may be) upon which the proposed
final payment of the Certificates of such series will be made upon presentation and surrender of Certificates of such series at the office or agency of the Trustee therein specified, (ii) the amount of any such proposed final payment, and
(iii) that the Record Date otherwise applicable to such Regular Distribution Date (or Special Distribution Date, as the case may be) is not applicable, payments being made only upon presentation and surrender of the Certificates of such series
at the office or agency of the Trustee therein specified. The Trustee shall give such notice to the Registrar at the time such notice is given to Certificateholders of such series. Upon presentation and surrender of the Certificates of such series
in accordance with such notice, the Trustee shall cause to be distributed to Certificateholders of such series amounts distributable on such Regular Distribution Date (or Special Distribution Date, as the case may be) pursuant to Section 4.02.

 In the event that all of the Certificateholders of such series shall not surrender their Certificates for cancellation within six months
after the date specified in the above-mentioned written notice, the Trustee shall give a second written notice to the remaining Certificateholders of such series to surrender their Certificates for cancellation and receive the final distribution
with respect thereto. No additional interest shall accrue on the Certificates of such series after any Regular Distribution Date (or Special Distribution Date, as the case may be) of such series, as specified in the first written notice. In the
event that any money held by the Trustee for the payment of distributions on the Certificates of such series shall remain unclaimed for two years (or such lesser time as the Trustee shall be satisfied, after 60 days’ notice from the Company, is
one month prior to the escheat period provided under applicable law) after the final distribution date with respect thereto, the Trustee shall pay to each Loan Trustee the appropriate amount of money relating to such Loan Trustee for distribution as
provided in the applicable Indenture or other Note Documents and shall give written notice thereof to any related Owner Trustees and the Company. 

ARTICLE XII. 
 MISCELLANEOUS
PROVISIONS 
 Section 12.01 Limitation on Rights of Certificateholders. (a) The insolvency, death or incapacity of any
Certificateholder of any series shall not operate to terminate this Agreement or the related Trust, nor entitle such Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or commence any proceeding in
any court for a partition or winding up of the Trust, nor otherwise affect the rights, obligations and liabilities of the parties hereto or any of them. No Certificateholder of any series shall be entitled to revoke the related Trust. 

  
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 (b) No transfer, by operation of law or otherwise, of any Certificate or other right, title and
interest of any Certificateholder in and to the applicable Trust Property or under the related Trust shall operate to terminate the Trust or entitle such Certificateholder or any successor or transferee of such Certificateholder to an accounting or
to the transfer to it of legal title to any part of such Trust Property. 
 Section 12.02 Certificates Nonassessable and Fully Paid.
Certificateholders of each series shall not be personally liable for obligations of the related Trust, the Fractional Undivided Interests represented by the Certificates of such series shall be nonassessable for any losses or expenses of such Trust
or for any reason whatsoever, and Certificates of such series upon authentication thereof by the Trustee pursuant to Section 3.02 are and shall be deemed fully paid. No Certificateholder of such series shall have any right (except as expressly
provided herein) to vote or in any manner otherwise control the operation and management of the related Trust Property, the related Trust, or the obligations of the parties hereto, nor shall anything set forth herein, or contained in the terms of
the Certificates of such series, be construed so as to constitute the Certificateholders of such series from time to time as partners or members of an association. 

Section 12.03 Registration of Equipment Notes in Name of Subordination Agent. If a Trust is party to an Intercreditor Agreement, the
Trustee agrees that all Equipment Notes to be purchased by such Trust may be issued in the name of the Subordination Agent under such Intercreditor Agreement or its nominee and held by such Subordination Agent in trust for the benefit of the
Certificateholders, or, if not so held, such Subordination Agent or its nominee shall be reflected as the owner of such Equipment Notes in the register of the issuer of such Equipment Notes. 

Section 12.04 Notices. (a) Unless otherwise expressly specified or permitted by the terms hereof or in the applicable Trust
Supplement with respect to any Trust created thereby, all notices required or permitted under the terms and provisions of this Basic Agreement or such Trust Supplement shall be in English and in writing, and any such notice may be given by U.S.
mail, courier service or facsimile or any other customary means of communication, and any such notice shall be effective when delivered (or, if mailed, three Business Days after deposit, postage prepaid, in the first class U.S. mail and, if
delivered by facsimile, upon completion of transmission and confirmation by the sender (by a telephone call to a representative of the recipient or by machine confirmation) that the transmission was received), if to the Company, to: 

American Airlines, Inc. 
 4333 Amon
Carter Blvd. 
 Fort Worth, Texas 76155 

Attention: Treasurer 
 Telephone:
(817) 963-1234 
 Facsimile: (817) 967-4318 

  
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 if to the Trustee, to: 

Wilmington Trust Company 
 1100
North Market Street 
 Wilmington, Delaware 19890 

Attention: Corporate Client Services 

Telephone: 302-636-6472 

Facsimile: 302-636-4149 
 Email:
avogelsong@wilmingtontrust.com 
 (b) The Company or the Trustee, by notice to the other, may designate additional or different addresses
for subsequent notices or communications. 
 (c) Any notice or communication to Certificateholders of any series shall be mailed by
first-class mail to the addresses for Certificateholders of such series shown on the Register kept by the Registrar and to addresses filed with the Trustee for Certificate Owners of such series. Failure so to mail a notice or communication or any
defect in such notice or communication shall not affect its sufficiency with respect to other Certificateholders or Certificate Owners of such series. 

(d) If a notice or communication is mailed in the manner provided above, it is conclusively presumed to have been duly given, whether or not
the addressee receives it. 
 (e) If the Company mails a notice or communication to the Certificateholders of such series, it shall mail a
copy to the Trustee and to each Paying Agent for such series at the same time. 
 (f) The Trustee shall promptly furnish the Company with a
copy of any report, demand, notice or written communication received by the Trustee hereunder from, or sent or furnished by the Trustee hereunder to any Certificateholder, Certificate Owner, Owner Trustee, Loan Trustee, Liquidity Provider,
Subordination Agent or other Person. 
 Section 12.05 Governing Law. THIS BASIC AGREEMENT HAS BEEN DELIVERED IN THE STATE OF NEW YORK
AND THIS BASIC AGREEMENT, TOGETHER WITH ALL TRUST SUPPLEMENTS AND CERTIFICATES, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER AND THEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 12.06
Severability of Provisions. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

Section 12.07 Trust Indenture Act Controls. This Agreement is subject to the provisions of the Trust Indenture Act and if any provision
of this Agreement limits, qualifies or conflicts with another provision which is required to be included in this Agreement by the Trust Indenture 

  
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Act, the required provision shall control. If any provision of this Agreement modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter
provision shall be deemed to apply to this Agreement as so modified, or to be excluded, as the case may be, whether or not such provision of this Agreement refers expressly to such provision of the Trust Indenture Act. 

Section 12.08 Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for
convenience only and shall not affect the construction hereof. 
 Section 12.09 Successors and Assigns. All covenants, agreements,
representations and warranties in this Agreement by the Trustee and the Company shall bind and, to the extent permitted hereby, shall inure to the benefit of and be enforceable by their respective successors and assigns, whether so expressed or not.
Any request, notice, direction, consent, waiver or other instrument or action by any Certificateholder shall bind the successors and assigns of such Certificateholder. 

Section 12.10 Benefits of Agreement. Nothing in this Agreement or in the Certificates of any series, express or implied, shall give to
any Person, other than the parties hereto and their successors hereunder, and the Certificateholders of each series, any benefit or any legal or equitable right, remedy or claim under this Agreement, except as provided expressly herein. 

Section 12.11 Legal Holidays. In any case where any Regular Distribution Date or Special Distribution Date relating to any Certificate
of any series shall not be a Business Day with respect to such series, then (notwithstanding any other provision of this Agreement) payment need not be made on such date, but may be made on the next succeeding Business Day with the same force and
effect as if made on such Regular Distribution Date or Special Distribution Date, and no interest shall accrue during the intervening period. 

Section 12.12 Counterparts. For the purpose of facilitating the execution of this Agreement and for other purposes, this Agreement may
be executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an original, and all of which counterparts shall constitute but one and the same instrument. 

Section 12.13 Communication by Certificateholders with Other Certificateholders. Certificateholders of any series may communicate with
other Certificateholders of such series with respect to their rights under this Basic Agreement, the related Trust Supplement or the Certificates of such series pursuant to Section 312(b) of the Trust Indenture Act. The Company, the Trustee and
any and all other persons benefitted by this Agreement shall have the protection afforded by Section 312(c) of the Trust Indenture Act. 

Section 12.14 Normal Commercial Relations. Anything contained in this Agreement to the contrary notwithstanding, the Trustee and any
Certificateholder, or any bank or other Affiliate of any such party, may conduct any banking or other financial transactions, and have banking or other commercial relationships, with the Company, the Parent and any of their Affiliates fully to the
same extent as if this Agreement were not in effect, including without limitation the making of loans or other extensions of credit to the Company, the Parent and any of their Affiliates for any purpose whatsoever, whether related to any of the
transactions contemplated hereby or otherwise. 

  
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 Section 12.15 No Recourse Against Others. No past, present or future director, officer,
employee, agent, member, manager, trustee or stockholder, as such, of the Company, the Parent or any successor Person or any Affiliate of any thereof shall have any liability for any obligations of the Company, the Parent or any successor Person or
any Affiliate of any thereof, either directly or through the Company, the Parent or any successor Person or any Affiliate of any thereof, under the Certificates, this Agreement or any Parent Guarantee or for any claim based on, in respect of or by
reason of such obligations or their creation, whether by virtue of any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise. By accepting a Certificate, each
Certificateholder agrees to the provisions of this Section 12.15 and waives and releases all such liability. Such waiver and release shall be part of the consideration for the issue of the Certificates. 

[Remainder of page intentionally left blank] 

  
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 IN WITNESS WHEREOF, the parties have caused this Pass Through Trust Agreement to be duly executed
by their respective officers thereunto duly authorized as of the day and year first written above. 
  

			
	AMERICAN AIRLINES, INC.
		
	By:	 	/s/ Thomas T. Weir        
	Name:	 	Thomas T. Weir
	 Title:
	 	Vice President and Treasurer

  

			
	 WILMINGTON TRUST COMPANY,

as Trustee

		
	By:	 	/s/ Adam R. Vogelsong        
	Name:	 	Adam R. Vogelsong
	 Title:
	 	Vice President

 [Signature Page to Pass Through Trust Agreement]

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