Document:

exv4w4

Exhibit 4.4

INTERCREDITOR AGREEMENT

(2010-1)

Dated as of July 2, 2010

among

U.S. BANK TRUST NATIONAL ASSOCIATION

as Trustee of the

Delta Air Lines Pass Through Trust 2010-1A

NATIXIS S.A., ACTING VIA ITS NEW YORK BRANCH

as Class A Liquidity Provider,

and

U.S. BANK TRUST NATIONAL ASSOCIATION

as Subordination Agent

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Table of Contents

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 	 	 ARTICLE I
	 	 	 	 
	 	 	 
	 	 	 	 
	 	 	DEFINITIONS
	 	 	 	 
	 	 	 
	 	 	 	 
	Section 1.01.
	 	Definitions

	 	 	2	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE II
	 	 	 	 
	 	 	 
	 	 	 	 
	 	 	TRUST ACCOUNTS; CONTROLLING PARTY
	 	 	 	 
	 	 	 
	 	 	 	 
	Section 2.01.
	 	Agreement to Terms of Subordination; Payments from Monies Received Only

	 	 	21	 
	Section 2.02.
	 	Trust Accounts

	 	 	22	 
	Section 2.03.
	 	Deposits to the Collection Account and Special Payments Account

	 	 	23	 
	Section 2.04.
	 	Distributions of Special Payments

	 	 	23	 
	Section 2.05.
	 	Designated Representatives

	 	 	24	 
	Section 2.06.
	 	Controlling Party

	 	 	25	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE III
	 	 	 	 
	 	 	 
	 	 	 	 
	 	 	 RECEIPT, DISTRIBUTION AND APPLICATION OF
	 	 	 	 
	 	 	 AMOUNTS RECEIVED
	 	 	 	 
	 	 	 
	 	 	 	 
	Section 3.01.
	 	Written Notice of Distribution

	 	 	27	 
	Section 3.02.
	 	Distribution of Amounts on Deposit in the Collection Account

	 	 	29	 
	Section 3.03.
	 	Other Payments

	 	 	31	 
	Section 3.04.
	 	Payments to the Trustees and the Liquidity Providers

	 	 	31	 
	Section 3.05.
	 	Liquidity Facilities

	 	 	31	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE IV
	 	 	 	 
	 	 	 
	 	 	 	 
	 	 	EXERCISE OF REMEDIES
	 	 	 	 
	 	 	 
	 	 	 	 
	Section 4.01.
	 	Directions from the Controlling Party

	 	 	38	 
	Section 4.02.
	 	Remedies Cumulative

	 	 	40	 
	Section 4.03.
	 	Discontinuance of Proceedings

	 	 	41	 
	Section 4.04.
	 	Right of Certificateholders and the Liquidity Providers to Receive Payments Not to Be Impaired

	 	 	41	 

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	 	 	 	 	Page
	 	 	 ARTICLE V
	 	 	 	 
	 	 	 
	 	 	 	 
	 	 	 DUTIES OF THE SUBORDINATION AGENT;
	 	 	 	 
	 	 	 AGREEMENTS OF TRUSTEES, ETC.
	 	 	 	 
	 	 	 
	 	 	 	 
	Section 5.01.
	 	Notice of Indenture Event of Default or Triggering Event

	 	 	41	 
	Section 5.02.
	 	Indemnification

	 	 	42	 
	Section 5.03.
	 	No Duties Except as Specified in Intercreditor Agreement

	 	 	43	 
	Section 5.04.
	 	Notice from the Liquidity Providers and Trustees

	 	 	43	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE VI
	 	 	 	 
	 	 	 
	 	 	 	 
	 	 	THE SUBORDINATION AGENT
	 	 	 	 
	 	 	 
	 	 	 	 
	Section 6.01.
	 	Authorization; Acceptance of Trusts and Duties

	 	 	43	 
	Section 6.02.
	 	Absence of Duties

	 	 	44	 
	Section 6.03.
	 	No Representations or Warranties as to Documents

	 	 	44	 
	Section 6.04.
	 	No Segregation of Monies; No Interest

	 	 	44	 
	Section 6.05.
	 	Reliance; Agents; Advice of Counsel

	 	 	44	 
	Section 6.06.
	 	Capacity in Which Acting

	 	 	45	 
	Section 6.07.
	 	Compensation

	 	 	45	 
	Section 6.08.
	 	May Become Certificateholder

	 	 	45	 
	Section 6.09.
	 	Subordination Agent Required; Eligibility

	 	 	45	 
	Section 6.10.
	 	Money to Be Held in Trust

	 	 	45	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE VII
	 	 	 	 
	 	 	 
	 	 	 	 
	 	 	SUCCESSOR SUBORDINATION AGENT
	 	 	 	 
	 	 	 
	 	 	 	 
	Section 7.01.
	 	Replacement of Subordination Agent; Appointment of Successor

	 	 	46	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE VIII
	 	 	 	 
	 	 	 
	 	 	 	 
	 	 	SUPPLEMENTS AND AMENDMENTS
	 	 	 	 
	 	 	 
	 	 	 	 
	Section 8.01.
	 	Amendments, Waivers, Etc

	 	 	47	 
	Section 8.02.
	 	Subordination Agent Protected

	 	 	51	 
	Section 8.03.
	 	Effect of Supplemental Agreements

	 	 	51	 
	Section 8.04.
	 	Notice to Rating Agencies

	 	 	52	 
	 	 	 
	 	 	 	 
	 	 	ARTICLE IX
	 	 	 	 
	 	 	 
	 	 	 	 
	 	 	MISCELLANEOUS
	 	 	 	 
	 	 	 
	 	 	 	 
	Section 9.01.
	 	Termination of Intercreditor Agreement

	 	 	52	 
	Section 9.02.
	 	Intercreditor Agreement for Benefit of Trustees, Liquidity Providers and
Subordination Agent

	 	 	52	 
	Section 9.03.
	 	Notices

	 	 	52	 

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	 	 	 	 	Page
	Section 9.04.
	 	Severability

	 	 	53	 
	Section 9.05.
	 	No Oral Modifications or Continuing Waivers

	 	 	53	 
	Section 9.06.
	 	Successors and Assigns

	 	 	54	 
	Section 9.07.
	 	Headings

	 	 	54	 
	Section 9.08.
	 	Counterparts

	 	 	54	 
	Section 9.09.
	 	Subordination

	 	 	54	 
	Section 9.10.
	 	Governing Law

	 	 	55	 
	Section 9.11.
	 	Submission to Jurisdiction; Waiver of Jury Trial; Waiver of Immunity

	 	 	55	 
	Section 9.12.
	 	Non-Petition

	 	 	56	 

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INTERCREDITOR AGREEMENT

          This INTERCREDITOR AGREEMENT, dated as of July 2, 2010, is made by and among U.S. BANK TRUST
NATIONAL ASSOCIATION, a national banking association (in its individual capacity, together with its
successors and permitted assigns, “U.S. Bank”), not in its individual capacity but solely as
trustee of the Class A Trust (such term and other capitalized terms used herein without definition
being defined as provided in Article I); NATIXIS S.A., a société anonyme organized under the laws
of France, acting via its New York Branch (“Natixis”), as Class A Liquidity Provider, and U.S. BANK
TRUST NATIONAL ASSOCIATION, not in its individual capacity except as expressly set forth herein,
but solely as Subordination Agent and trustee hereunder (in such capacity, together with any
successor appointed pursuant to Article VII, the “Subordination Agent”).

          WHEREAS, pursuant to each Indenture, Delta will issue on a recourse basis Equipment Notes
secured by the related Aircraft, not more than two series of which Equipment Notes shall be
outstanding at any time;

          WHEREAS, pursuant to each Participation Agreement, each Trust then in existence will acquire
Equipment Notes having an interest rate identical to the interest rate applicable to the
Certificates issued by such Trust;

          WHEREAS, pursuant to the Class A Trust Agreement, the Trust created thereby proposes to issue
the Class A Certificates bearing the interest rate and having the final distribution date described
in the Class A Trust Agreement on the terms and subject to the conditions set forth therein;

          WHEREAS, Delta may in the future enter into a Trust Supplement with respect to the Class B
Trust in connection with the issuance of the Class B Certificates to provide financing for the
purchase by the Class B Trustee of the Series B Equipment Notes, if issued in respect of, and
secured by a security interest in, the Aircraft;

          WHEREAS, pursuant to the Underwriting Agreement, the Underwriters propose to purchase the
Class A Certificates;

          WHEREAS, the Class A Liquidity Provider proposes to enter into a revolving credit agreement
with the Subordination Agent, as agent and trustee for the Trustee of the Class A Trust for the
benefit of the Certificateholders of the Class A Trust; and

          WHEREAS, it is a condition precedent to the obligations of the Underwriters under the
Underwriting Agreement that the Subordination Agent, the Class A Trustee and the Class A Liquidity
Provider agree to the terms of subordination set forth in this Agreement in respect of each Class
of Certificates, and the Subordination Agent, the Class A Trustee and the Class A Liquidity
Provider, by entering into this Agreement, hereby acknowledge and agree to such terms of
subordination and the other provisions of this Agreement;

          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:

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ARTICLE I

DEFINITIONS

          Section 1.01. Definitions. (a) The definitions stated herein apply equally to the
singular and the plural forms of the terms defined.

     (b) All references in this Agreement to designated “Articles”, “Sections” and other
subdivisions are to the designated Articles, Sections and other subdivisions of this Agreement.

     (c) The words “herein”, “hereof” and “hereunder” and other words of similar import refer to
this Agreement as a whole and not to any particular Article, Section or other subdivision.

     (d) 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”.

     (e) All references in this Agreement to a Person shall include successors and permitted
assigns of such Person.

     (f) For purposes of this Agreement, unless the context otherwise requires, the following
capitalized terms shall have the following meanings:

          “Acceleration” means, with respect to the amounts payable in respect of the Equipment Notes
issued under any Indenture, such amounts becoming immediately due and payable by declaration or
otherwise. “Accelerate”, “Accelerated” and “Accelerating” have meanings correlative to the
foregoing.

          “Actual Disposition Event” means, in respect of any Equipment Note: (i) the sale or
disposition by the applicable Loan Trustee of the Aircraft securing such Equipment Note for cash,
(ii) the occurrence of the mandatory redemption date for such Equipment Note following an Event of
Loss (as defined in such Indenture) with respect to such Aircraft or (iii) the sale by the
Subordination Agent of such Equipment Note for cash.

          “Administration Expenses” has the meaning specified in clause “first” of Section 3.02.

          “Advance” means, with respect to any Liquidity Facility, any Advance as defined in such
Liquidity Facility.

          “Affiliate” means, with respect to any Person, any other Person directly or indirectly
controlling, 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 or cause the direction of 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.

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          “Agreement” means this Intercreditor Agreement, as it may be amended, supplemented or
otherwise modified from time to time.

          “Aircraft” means, with respect to each Indenture, the “Aircraft” referred to therein.

          “Appraisal” has the meaning specified in Section 4.01(a)(iv).

          “Appraised Current Market Value” of any Aircraft means the lower of the average and the median
of the three most recent Post-Default Appraisals of such Aircraft.

          “Appraisers” means Aircraft Information Systems, Inc., BK Associates, Inc. and Morten Beyer &
Agnew, Inc. or, so long as the Person entitled or required hereunder to select such Appraiser acts
reasonably, any other nationally recognized appraiser reasonably satisfactory to the Subordination
Agent and the Controlling Party.

          “Available Amount” means, with respect to any Liquidity Facility on any drawing date, subject
to the proviso contained in the first sentence of Section 3.05(g), an amount equal to (a) the
Stated Amount of such Liquidity Facility at such time, less (b) the aggregate amount of each
Interest Drawing honored by the Liquidity Provider under such Liquidity Facility on or prior to
such date that has not been reimbursed or reinstated as of such date; provided that, following a
Downgrade Drawing, a Non-Extension Drawing, a Special Termination Drawing or a Final Drawing under
such Liquidity Facility, the Available Amount of such Liquidity Facility shall be zero.

          “Bankruptcy Code” means the United States Bankruptcy Code, 11 United States Code §§101
et seq., as amended, or any successor statutes thereto.

          “Basic Agreement” means that certain Pass Through Trust Agreement, dated as of November 16,
2000, between Delta and U.S. Bank, as successor in interest to State Street Bank and Trust Company
of Connecticut, National Association, as the same may be amended, supplemented or otherwise
modified from time to time in accordance with its terms, but does not include any Trust Supplement.

          “Business Day” means, with respect to the Certificates of any Class, any day other than a
Saturday, or a Sunday or a day on which commercial banks are required or authorized to close in New
York, New York, Atlanta, Georgia, Wilmington, Delaware, or, so long as any Certificate is
outstanding, the city and state in which any Trustee, the Subordination Agent or any related Loan
Trustee maintains its Corporate Trust Office or receives and disburses funds, and that, solely with
respect to draws under any Liquidity Facility, also is a “Business Day” as defined in such
Liquidity Facility.

          “Cash Collateral Account” means the Class A Cash Collateral Account or the Class B Cash
Collateral Account, as applicable.

          “Certificate” means a Class A Certificate or, if issued, a Class B Certificate, as applicable.

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          “Certificate Buy-Out Event” means that a Delta Bankruptcy Event has occurred and is continuing
and either of the following events has occurred: (A) (i) the 60-Day Period has expired, and
(ii) Delta has not entered into one or more agreements under Section 1110(a)(2)(A) of the
Bankruptcy Code to perform all of its obligations under all of the Indentures and cured defaults
under all of the Indentures in accordance with Section 1110(a)(2)(B) of the Bankruptcy Code or, if
it has entered into such agreements, has at any time thereafter failed to cure any default under
any of the Indentures in accordance with Section 1110(a)(2)(B) of the Bankruptcy Code; or (B) prior
to the expiry of the 60-Day Period, Delta shall have abandoned any Aircraft.

          “Certificateholder” means, with respect to any Class of Certificates, the Person in whose name
a Certificate is registered in the Register for the Certificates of such Class.

          “Citizen of the United States” has the meaning specified for such term in Section 40102(a)(15)
of Title 49 of the United States Code or any similar legislation of the United States enacted in
substitution or replacement therefor.

          “Class” means a single class of Certificates issued by a Trust pursuant to a Trust Agreement.

          “Class A Cash Collateral Account” means, in respect of the Class A Liquidity Facility, an
Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible
Institution, which shall be the Subordination Agent if it so qualifies, into which amounts shall be
deposited as referred to in Section 3.05(f).

          “Class A Certificateholder” means, at any time, any Certificateholder of one or more Class A
Certificates.

          “Class A Certificates” means the certificates issued by the Class A Trust, substantially in
the form of Exhibit A to the Class A Trust Agreement, and authenticated by the Class A Trustee,
representing Fractional Undivided Interests in the Class A Trust, and any certificates issued in
exchange therefor or replacement thereof pursuant to the terms of the Class A Trust Agreement.

          “Class A Liquidity Expenses” means all Class A Liquidity Obligations other than (i) the
principal amount of any Drawings under the Class A Liquidity Facility and (ii) any interest accrued
on any Class A Liquidity Obligations.

          “Class A Liquidity Facility” means, initially, the Revolving Credit Agreement (2010-1A), dated
as of the date hereof, between the Subordination Agent, as agent and trustee for the Class A
Trustee, and Natixis and, from and after the replacement of such agreement pursuant hereto, the
Replacement Liquidity Facility therefor, if any, in each case as amended, supplemented or otherwise
modified from time to time in accordance with its terms; provided that, for purposes of any
obligation of Delta, no amendment, modification or supplement to, or substitution or replacement
of, any Class A Liquidity Facility shall be effective unless consented to by Delta.

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          “Class A Liquidity Obligations” means all principal, interest, fees and other amounts owing to
the Class A Liquidity Provider under the Class A Liquidity Facility, Section 4.02 of the
Participation Agreements or the applicable Fee Letter.

          “Class A Liquidity Provider” means Natixis, together with any Replacement Liquidity Provider
that has issued a Replacement Liquidity Facility to replace the Class A Liquidity Facility pursuant
to Section 3.05(c) or 3.05(e).

          “Class A Trust” means the Delta Air Lines Pass Through Trust 2010-1A created and administered
pursuant to the Class A Trust Agreement.

          “Class A Trust Agreement” means the Basic Agreement, as supplemented by Trust Supplement No.
2010-1A thereto, dated as of the date hereof, governing the creation and administration of the
Delta Air Lines Pass Through Trust 2010-1A and the issuance of the Class A Certificates, as the
same may be amended, supplemented or otherwise modified from time to time in accordance with its
terms.

          “Class A Trustee” means U.S. Bank, not in its individual capacity except as expressly set
forth in the Class A Trust Agreement, but solely as trustee under the Class A Trust Agreement,
together with any successor trustee appointed pursuant thereto.

          “Class B Adjusted Interest” means, as of any Current Distribution Date: (I) any interest
described in clause (II) of this definition accrued prior to the immediately preceding Distribution
Date which remains unpaid and (II) the sum of (A) interest determined at the Stated Interest Rate
for the Class B Certificates for the period commencing on, and including, the immediately preceding
Distribution Date (or, if the Current Distribution Date is the first Distribution Date, the Closing
Date) and ending on, but excluding, the Current Distribution Date, on the Eligible B Pool Balance
on such Current Distribution Date and (B) the sum of interest for each Series B Equipment Note with
respect to which, or with respect to the Aircraft with respect to which such Equipment Note was
issued, a disposition, distribution, sale or Deemed Disposition Event has occurred since the
immediately preceding Distribution Date (but only if no such event has previously occurred with
respect to such Series B Equipment Note), determined at the Stated Interest Rate for the Class B
Certificates for each day during the period commencing on, and including, the immediately preceding
Distribution Date (or, if the Current Distribution Date is the first Distribution Date, the Closing
Date) and ending on, but excluding, the date of the earliest of such disposition, distribution,
sale or Deemed Disposition Event with respect to such Series B Equipment Note or such Aircraft, as
the case may be, on the principal amount of such Series B Equipment Note calculated pursuant to
clause (B)(i), (ii), (iii) or (iv), as applicable, of the definition of Eligible B Pool Balance.

          “Class B Cash Collateral Account” means, in respect of the Class B Liquidity Facility, an
Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible
Institution, which shall be the Subordination Agent if it so qualifies, into which amounts shall be
deposited as referred to in Section 3.05(f), if and when such account is created.

          “Class B Certificateholder” means, at any time, any Certificateholder of one or more Class B
Certificates.

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          “Class B Certificates” means any Certificates issued by the Class B Trust, if and when
created, representing Fractional Undivided Interests in the Class B Trust.

          “Class B Liquidity Expenses” means all Class B Liquidity Obligations other than (i) the
principal amount of any Drawings under the Class B Liquidity Facility and (ii) any interest accrued
on any Class B Liquidity Obligations.

          “Class B Liquidity Facility” means, if and when executed and delivered in connection with the
issuance of the Class B Certificates, a facility consisting of one or more instruments provided by
the Class B Liquidity Provider in the form of a revolving credit agreement or such other form
(which may include a letter of credit, surety bond, financial insurance policy or guaranty) as may
be determined in connection with such issuance to cover interest payments on the Class B
Certificates in a face amount equal to the Required Amount for the Class B Certificates and, from
and after the replacement of such facility pursuant hereto, the Replacement Liquidity Facility
therefor, if any, in each case as amended, supplemented or otherwise modified from time to time in
accordance with its terms; provided that, for purposes of any obligation of Delta, no
Class B Liquidity Facility and no amendment, modification or supplement to, or substitution or
replacement of, any Class B Liquidity Facility shall be effective unless consented to by Delta.

          “Class B Liquidity Obligations” means all principal, interest, fees and other amounts owing to
the Class B Liquidity Provider under the Class B Liquidity Facility, Section 4.02 of the
Participation Agreements or the applicable Fee Letter.

          “Class B Liquidity Provider” means the initial provider of any Class B Liquidity, if any,
together with any Replacement Liquidity Providers that have issued a Replacement Liquidity Facility
to replace the Class B Liquidity Facility pursuant to Section 3.05(c) or 3.05(e).

          “Class B Related Terms” means (i) the following defined terms: (a) Class B Adjusted Interest,
Class B Cash Collateral Account, Class B Certificateholder, Class B Certificates, Class B Liquidity
Expenses, Class B Liquidity Facility, Class B Liquidity Obligations, Class B Liquidity Provider,
Class B Trust, Class B Trustee, Refinancing Certificateholders, Refinancing Certificates,
Refinancing Equipment Notes, Refinancing Trust, Refinancing Trust Agreement, Refinancing Trustee
and Series B Equipment Notes; and (b) Final Legal Distribution Date and Stated Interest Rate solely
to the extent that such terms relate to the Class B Certificates or the Class B Liquidity Facility;
and (ii) any other provision hereof (including any other defined term or term defined by reference
to any Liquidity Facility) to the extent it applies to any of the terms specified in foregoing
clause (i).

          “Class B Trust” means the Delta Air Lines Pass Through Trust 2010-1B, if and when created,
administered pursuant to the Class B Trust Agreement.

          “Class B Trust Agreement” means the Basic Agreement, as supplemented by a trust supplement, if
and when executed and delivered, governing the creation and administration of the Class B Trust and
the issuance of any Class B Certificates, as the same may be amended, supplemented or otherwise
modified from time to time in accordance with its terms.

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          “Class B Trustee” means U.S. Bank, not in its individual capacity except as expressly set
forth in the Class B Trust Agreement, if any, but solely as trustee under the Class B Trust
Agreement, together with any successor trustee appointed pursuant thereto.

          “Closing Date” means July 2, 2010.

          “Code” means the Internal Revenue Code of 1986, as amended from time to time, and Treasury
Regulations promulgated thereunder.

          “Collateral” means, with respect to any Indenture, the “Collateral” referred to therein.

          “Collection Account” means the Eligible Deposit Account established by the Subordination Agent
pursuant to Section 2.02(a) in and from which the Subordination Agent shall make deposits and
withdrawals in accordance with this Agreement.

          “Consent Period” has the meaning specified in Section 3.05(d).

          “Controlling Party” means the Person entitled to act as such pursuant to the terms of
Section 2.06.

          “Corporate Trust Office” means, with respect to any Trustee, the Subordination Agent or any
Loan Trustee, the office of such Person in the city at which, at any particular time, its corporate
trust business shall be principally administered.

          “Current Distribution Date” means a Distribution Date specified as a reference date for
calculating the Expected Distributions with respect to the Certificates of any Trust as of such
Distribution Date.

          “Delivery Period Termination Date” has the meaning specified in the Note Purchase Agreement.

          “Deemed Disposition Event” means, in respect of any Equipment Note, the continuation of an
Indenture Event of Default in respect of such Equipment Note without an Actual Disposition Event
occurring in respect of such Equipment Note for a period of four years from the date of the
occurrence of such Indenture Event of Default.

          “Delta” means Delta Air Lines, Inc., a Delaware corporation, and its successors and permitted
assigns.

          “Delta Bankruptcy Event” means the occurrence and continuation of any of the following:

     (a) Delta consents to the appointment of or the taking of possession by a receiver,
trustee or liquidator of itself or of a substantial part of its property, admits in writing
its inability to pay its debts generally as they come due or makes a general assignment for
the benefit of creditors;

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     (b) Delta files a voluntary petition in bankruptcy or a voluntary petition or an answer
seeking reorganization, liquidation or other relief as a debtor in a case under any bankruptcy
laws or insolvency laws (as in effect at such time) or an answer admitting the material
allegations of a petition filed against Delta as a debtor in any such case, or Delta seeks
relief as a debtor by voluntary petition, answer or consent, under the provisions of any other
bankruptcy or other similar law providing for the reorganization or winding-up of corporations
(as in effect at such time), or Delta seeks an agreement, composition, extension or adjustment
with its creditors under such laws; or

     (c) an order, judgment or decree is entered by any court of competent jurisdiction
appointing, without the consent of Delta, a receiver, trustee or liquidator of Delta or
sequestering any substantial part of its property, or granting any other relief in respect of
Delta as a debtor under any bankruptcy laws or insolvency laws (as in effect at such time),
and any such order, judgment or decree of appointment or sequestration remains in force
undismissed, unstayed and unvacated for a period of 90 days after the date of entry thereof;
or

     (d) a petition against Delta as a debtor in a case under the federal bankruptcy laws or
other insolvency laws (as in effect at such time) is filed and not withdrawn or dismissed
within 90 days thereafter, or if, under the provisions of any law providing for reorganization
or winding-up of corporations that applies to Delta , any court of competent jurisdiction
assumes jurisdiction, custody or control of Delta or of any substantial part of its property
and such jurisdiction, custody or control remains in force unrelinquished, unstayed and
unterminated for a period of 90 days.

          “Delta Provisions” has the meaning specified in Section 8.01(a).

          “Deposit Agreement” means, subject to Section 5 of the Note Purchase Agreement, the Deposit
Agreement (Class A), dated as of the date hereof, between the Escrow Agent and the Depositary, as
the same may be amended, modified or supplemented from time to time in accordance with the terms
thereof.

          “Depositary” means, subject to Section 5 of the Note Purchase Agreement, The Bank of New York
Mellon, as depositary under the Deposit Agreement.

          “Deposits” has the meaning set forth in the Deposit Agreement.

          “Designated Representatives” means the Subordination Agent Representatives, the Trustee
Representatives and the LP Representatives identified under Section 2.05.

          “Distribution Date” means a Regular Distribution Date or a Special Distribution Date.

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

          “Downgrade Drawing” has the meaning specified in Section 3.05(c).

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          “Downgrade Event” with respect to any Liquidity Facility has the meaning specified in such
Liquidity Facility.

          “Downgraded Facility” has the meaning specified in Section 3.05(c).

          “Drawing” means an Interest Drawing, a Final Drawing, a Non-Extension Drawing, a Special
Termination Drawing or a Downgrade Drawing, as the case may be.

          “DTC” means The Depository Trust Company.

          “Eligible B Pool Balance” means, as of any date of determination, the excess of (A) the Pool
Balance of the Class B Certificates as of the immediately preceding Distribution Date (or, if such
date of determination is on or before the first Distribution Date after the date of issuance of the
Class B Certificates, the original aggregate face amount of the Class B Certificates) (after giving
effect to distributions made on such date of determination) over (B) the sum of, with respect to
each Series B Equipment Note, one of the following amounts, if applicable: (i) if there has
previously been a sale or disposition by the applicable Loan Trustee of the applicable Aircraft for
cash under the Indenture pursuant to which such Series B Equipment Note was issued, the outstanding
principal amount of such Series B Equipment Note that remains unpaid as of such date of
determination subsequent to such sale or disposition and after giving effect to any distributions
of the proceeds of such sale or disposition applied under such Indenture to the payment of such
Series B Equipment Note, (ii) if there has previously been an Event of Loss (as defined in such
Indenture) with respect to the applicable Aircraft to which such Series B Equipment Note relates,
the outstanding principal amount of such Series B Equipment Note that remains unpaid as of such
date of determination subsequent to the scheduled date of mandatory redemption of such Series B
Equipment Note following such Event of Loss and after giving effect to the distributions of any
proceeds in respect of such Event of Loss applied under such Indenture to the payment of such
Series B Equipment Note, (iii) if such Series B Equipment Note has previously been sold for cash by
the Subordination Agent, the excess, if any, of (x) the outstanding amount of principal and
interest as of the date of such sale by the Subordination Agent of such Series B Equipment Note
over (y) the purchase price received with respect to such sale of such Series B Equipment Note for
cash (net of any applicable costs and expenses of such sale) or (iv) if a Deemed Disposition Event
has occurred with respect to such Series B Equipment Note, the outstanding principal amount of such
Series B Equipment Note; provided, however, that if more than one of the clauses (i), (ii), (iii)
and (iv) is applicable to any one Series B Equipment Note, only the amount determined pursuant to
the clause that first became applicable shall be counted with respect to such Series B Equipment
Note.

          “Eligible Deposit Account” means either (a) a segregated account with an Eligible Institution
or (b) a segregated trust account with the corporate trust department of a depository institution
organized under the laws of the United States of America or any one of the states thereof or the
District of Columbia (or any U.S. branch of a foreign bank), having corporate trust powers and
acting as trustee for funds deposited in such account, so long as any of the securities of such
depository institution has a Long-Term Rating of at least A- or its equivalent from S&P or at least
A3 or its equivalent from Moody’s. An Eligible Deposit Account may be maintained with the
Subordination Agent or a Liquidity Provider so long as the

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Subordination Agent or such Liquidity Provider is an Eligible Institution; provided that the
Subordination Agent, in its individual capacity, or such Liquidity Provider shall have waived all
rights of set-off and counterclaim with respect to such account.

          “Eligible Institution” means (a) the corporate trust department of the Subordination Agent or
any Trustee, as applicable, or (b) a depository institution organized under the laws of the United
States of America or any one of the states thereof or the District of Columbia (or any U.S. branch
of a foreign bank), which has a Long Term Rating from each Rating Agency of at least A- or its
equivalent by S&P or at least A3 or its equivalent by Moody’s.

          “Eligible Investments” means investments in (a) obligations of the United States government or
agencies thereof, or obligations guaranteed by the United States government, (b) open market
commercial paper of any corporation incorporated under the laws of the United States or any state
thereof having a Short-Term Rating of at least A-1 or its equivalent by S&P or at least P-1 or its
equivalent by Moody’s, (c) certificates of deposit issued by commercial banks organized under the
laws of the United States or of any political subdivision thereof (or any United States branch of a
foreign bank) having a combined capital and surplus in excess of $500,000,000 which banks or their
holding companies have a Long-Term Rating of at least A or its equivalent by S&P or at least A2 or
its equivalent by Moody’s; provided, however, that the aggregate amount at any one time invested in
certificates of deposit issued by any one bank shall not be in excess of 5% of such bank’s capital
and surplus, (d) Dollar denominated offshore certificates of deposit issued by, or offshore time
deposits with, any commercial bank described in clause (c) or any subsidiary thereof, and
(e) repurchase agreements with any financial institution having combined capital and surplus of at
least $500,000,000 with any of the obligations described in clauses (a) through (d) as collateral.
If none of the above investments is available, the entire amounts to be invested may be used to
purchase Federal funds from an entity described in clause (c). All Eligible Investments must be
held in an Eligible Deposit Account. Any of the investments described herein may be made through
or with, as applicable, the bank acting as Trustee or its Affiliates.

          “Equipment Note Special Payment” means a Special Payment on account of the redemption,
purchase or prepayment of all of the Equipment Notes issued pursuant to an Indenture.

          “Equipment Notes” means, at any time, the Series A Equipment Notes and, if issued, the
Series B Equipment Notes and in either case, any Equipment Notes issued in exchange therefor or
replacement thereof pursuant to the terms of the Indentures.

          “Escrow Agent” means U.S. Bank National Association, as escrow agent under each Escrow and
Paying Agent Agreement, together with its successors in such capacity.

          “Escrow and Paying Agent Agreement” means the Escrow and Paying Agent Agreement (Class A)
dated as of the date hereof between the Escrow Agent, the Underwriters, the Class A Trustee and the
Paying Agent, as the same may be amended, modified or supplemented from time to time in accordance
with the terms thereof.

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          “Escrow Receipts” has the meaning assigned to such term in the Escrow and Paying Agent
Agreement.

          “Excess Liquidity Obligations” means, with respect to an Indenture, the amounts payable under
clauses (a), (b), (c), (d), (e) and (f) of Section 2.14 of such Indenture.

          “Expected Distributions” means, with respect to the Certificates of any Trust on any Current
Distribution Date, the difference between (A) the Pool Balance of such Certificates as of the
immediately preceding Distribution Date (or, if the Current Distribution Date is the first
Distribution Date after the date of issuance of such Certificates, the original aggregate face
amount of the Certificates of such Trust) and (B) the Pool Balance of such Certificates as of the
Current Distribution Date calculated on the basis that (i) the principal of any Non-Performing
Equipment Notes held in such Trust has been paid in full and such payments have been distributed to
the holders of such Certificates, (ii) the principal of any Performing Equipment Notes held in such
Trust has been paid when due (whether at stated maturity or upon prepayment or purchase or
otherwise, but without giving effect to any Acceleration of Performing Equipment Notes) and such
payments have been distributed to the holders of such Certificates and (iii) the principal of any
Equipment Notes formerly held in such Trust that have been sold pursuant to the terms hereof has
been paid in full and such payments have been distributed to the holders of such Certificates, but
in the case of the Class A Certificates, without giving effect to any reduction in the Pool Balance
as a result of any distribution attributable to Deposits occurring after the immediately preceding
Distribution Date (or, if the Current Distribution Date is the first Distribution Date, occurring
after the initial issuance of the Class A Certificates). For purposes of calculating Expected
Distributions with respect to the Certificates of any Trust, any Premium paid on the Equipment
Notes held in such Trust which has not been distributed to the Certificateholders of such Trust
(other than such Premium or a portion thereof applied to the payment of interest in respect of the
Certificates of such Trust or the reduction of the Pool Balance of such Trust) shall be added to
the amount of such Expected Distributions.

          “Expiry Date” with respect to any Liquidity Facility, has the meaning specified in such
Liquidity Facility.

          “Fee Letter” means any fee letter entered into among the Subordination Agent, Delta and a
Liquidity Provider and “Fee Letters” has a correlative meaning.

          “Final Distributions” means, with respect to the Certificates of any Trust on any Distribution
Date, the sum of (x) the aggregate amount of all accrued and unpaid interest on such Certificates
(excluding, in the case of the Class A Certificates, interest, if any, payable with respect to the
Deposits) and (y) the Pool Balance of such Certificates as of the immediately preceding
Distribution Date (less, in the case of the Class A Certificates, the amount of Deposits as of such
preceding Distribution Date other than any portion of such Deposits thereafter used to acquire
Equipment Notes pursuant to the Note Purchase Agreement). For purposes of calculating Final
Distributions with respect to the Certificates of any Trust, any Premium paid on the Equipment
Notes held in such Trust which has not been distributed to the Certificateholders of such Trust
(other than such Premium or a portion thereof applied to the payment of interest on the
Certificates of such Trust or the reduction of the Pool Balance of such Trust) shall be added to
the amount of such Final Distributions.

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          “Final Drawing” has the meaning specified in Section 3.05(i).

          “Final Legal Distribution Date” means (i) with respect to the Class A Certificates, January 2,
2020 and (ii) with respect to the Class B Certificates, a date to be determined as such for the
Class B Certificates.

          “Fractional Undivided Interest” means the fractional undivided interest in a Trust that is
represented by a Certificate relating to such Trust.

          “Indenture” means each of the Indenture and Security Agreements entered into by the Loan
Trustee and Delta pursuant to the Note Purchase Agreement, in each case as the same may be amended,
supplemented or otherwise modified from time to time in accordance with its terms.

          “Indenture Event of Default” means, with respect to any Indenture, any Event of Default (as
such term is defined in such Indenture) thereunder.

          “Interest Drawing” has the meaning specified in Section 3.05(a).

          “Interest Payment Date” means, with respect to any Liquidity Facility, each date on which
interest is due and payable under such Liquidity Facility on a Downgrade Drawing, Non-Extension
Drawing, Special Termination Drawing or Final Drawing thereunder, other than any such date on which
interest is due and payable under such Liquidity Facility only on an Applied Provider Advance (as
such term is defined in such Liquidity Facility).

          “Investment Earnings” means investment earnings on funds on deposit in the Trust Accounts net
of losses and the Subordination Agent’s reasonable expenses in making such investments.

          “Lending Office” has the meaning specified in the applicable Liquidity Facility.

          “Lien” means any mortgage, pledge, lien, charge, claim, disposition of title, encumbrance,
lease, sublease or security interest of any kind, including, without limitation, any of the
foregoing arising under any conditional sales or other title retention agreement.

          “Liquidity Event of Default”, with respect to any Liquidity Facility, has the meaning
specified in such Liquidity Facility.

          “Liquidity Expenses” means the Class A Liquidity Expenses and the Class B Liquidity Expenses.

          “Liquidity Facility” means, at any time, the Class A Liquidity Facility or the Class B
Liquidity Facility, as applicable.

          “Liquidity Obligations” means the Class A Liquidity Obligations and the Class B Liquidity
Obligations.

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          “Liquidity Provider” means, at any time, the Class A Liquidity Provider or, if the Class B
Liquidity Facility shall have been provided, the Class B Liquidity Provider, as applicable.

          “Loan Trustee” means, with respect to any Indenture, the bank, trust company or other
financial institution designated as loan trustee thereunder, and any successor to such loan
trustee.

          “Long-Term Rating” means, for any entity (a) in the case of Moody’s, the long-term senior
unsecured debt rating of such entity and (b) in the case of S&P, the long-term issuer credit rating
of such entity.

          “LP Incumbency Certificate” has the meaning specified in Section 2.05(c).

          “LP Representatives” has the meaning specified in Section 2.05(c).

          “Majority in Interest of Noteholders”, with respect to any Indenture, has the meaning
specified in such Indenture.

          “Minimum Sale Price” means, with respect to any Aircraft or the Equipment Notes issued in
respect of such Aircraft, at any time, the lesser of (1) in the case of the sale of an Aircraft,
80%, or in the case of the sale of such Equipment Notes, 90%, of the Appraised Current Market
Value of such Aircraft and (2) the sum of the aggregate Note Target Price of such Equipment Notes
and an amount equal to the Excess Liquidity Obligations in respect of the Indenture under which
such Equipment Notes were issued.

          “Moody’s” means Moody’s Investors Service, Inc.

          “Non-Controlling Party” means, at any time, any Trustee or Liquidity Provider which is not the
Controlling Party at such time.

          “Non-Extended Facility” has the meaning specified in Section 3.05(d).

          “Non-Extension Drawing” has the meaning specified in Section 3.05(d).

          “Non-Performing Equipment Note” means an Equipment Note issued pursuant to an Indenture that
is not a Performing Equipment Note.

          “Note Purchase Agreement” means the Note Purchase Agreement, dated as of the date hereof,
among Delta, the Class A Trustee, the Escrow Agent, the Subordination Agent and the Paying Agent,
as amended, supplemented or otherwise modified from time to time in accordance with its terms.

          “Note Target Price” means, for any Equipment Note issued under any Indenture, (i) the
aggregate outstanding principal amount of such Equipment Note, plus (ii) the accrued and unpaid
interest thereon, together with all other sums owing on or in respect of such Equipment Note under
such Indenture (including, without limitation, enforcement costs incurred by the Subordination
Agent in respect of such Equipment Note).

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          “Officer’s Certificate” of any Person means a certification signed by a Responsible Officer of
such Person.

          “Operative Agreements” means this Agreement, the Liquidity Facilities, the Fee Letters, the
Indentures, the Trust Agreements, the Participation Agreements, the Equipment Notes and the
Certificates, together with all exhibits and schedules included with any of the foregoing.

          “Outstanding” means, when used with respect to each Class of Certificates, as of the date of
determination, all Certificates of such Class theretofore authenticated and delivered under the
related Trust Agreement, except:

     (i) Certificates of such Class theretofore canceled by the Registrar (as defined in
such Trust Agreement) or delivered to the Trustee thereunder or such Registrar for
cancellation;

     (ii) all of the Certificates of such Class for which money in the full amount required
to make the Final Distribution with respect to such Certificates pursuant to Section 11.01
of such Trust Agreement has been theretofore deposited with the related Trustee in trust for
the holders of such Certificates as provided in Section 4.01 of such Trust Agreement,
pending distribution of such money to such Certificateholders pursuant to such Final
Distribution payment; and

     (iii) Certificates of such Class in exchange for or in lieu of which other Certificates
of such Class have been authenticated and delivered pursuant to such Trust Agreement;

provided, however, that in determining whether the holders of the requisite Fractional Undivided
Interest of such Certificates have given any request, demand, authorization, direction, notice,
consent or waiver hereunder, any Certificates owned by Delta or any of its Affiliates shall be
disregarded and deemed not to be Outstanding except that, in determining whether the Trustee of the
applicable Trust shall be protected in relying upon any such request, demand, authorization,
direction, notice, consent or waiver, only Certificates that such Trustee knows to be so owned
shall be so disregarded. Notwithstanding the foregoing, (x) if Delta and its Affiliates own 100%
of the Certificates of any Class, such Certificates shall not be so disregarded and (y) if any
amount of such Certificates owned by Delta and its Affiliates have been pledged in good faith, such
Certificates shall not be disregarded if the pledgee establishes to the satisfaction of the
applicable Trustee the pledgee’s right so to act with respect to such Certificates and that the
pledgee is not Delta or any of its Affiliates.

          “Overdue Scheduled Payment” means any Scheduled Payment which is not in fact received by the
Subordination Agent within five days after the Scheduled Payment Date relating thereto.

          “Participation Agreement” means, with respect to each Indenture, the “Participation Agreement”
referred to therein, as the same may be amended, supplemented or otherwise modified from time to
time in accordance with its terms.

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          “Payees” has the meaning specified in Section 2.04(c).

          “Paying Agent” means U.S. Bank Trust National Association, as paying agent under each Escrow
and Paying Agent Agreement, together with its successors in such capacity.

          “Paying Agent Account” has the meaning assigned to such term in the Escrow and Paying Agent
Agreements.

          “Payment Default”, with respect to any Indenture, has the meaning specified in such Indenture.

          “Performing Equipment Note” means an Equipment Note issued pursuant to an Indenture with
respect to which no Payment Default has occurred and is continuing (without giving effect to any
Acceleration); provided, that in the event of a bankruptcy proceeding in which Delta is a debtor
under the Bankruptcy Code, (i) any payment default occurring before the date of the order for
relief in such proceeding shall not be taken into consideration during the 60-Day Period (or such
longer period as may apply under Section 1110(b) of the Bankruptcy Code) (the “Section 1110
Period”), (ii) any payment default occurring after the date of the order for relief in such
proceeding shall not be taken into consideration if such payment default is cured under
Section 1110(a)(2)(B) of the Bankruptcy Code before the later of 30 days after the date of such
default or the expiration of the Section 1110 Period and (iii) any payment default occurring after
the Section 1110 Period will not be taken into consideration if such payment default is cured
before the end of the grace period, if any, set forth in the related Indenture.

          “Performing Note Deficiency” means any time that less than 65% of the then aggregate
outstanding principal amount of all Equipment Notes are Performing Equipment Notes.

          “Person” means 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 Class, as of any date, (i) the
original aggregate face amount of the Certificates of such Class less (ii) the aggregate amount of
all distributions made in respect of such Certificates of such Class or (in the case of the Class A
Certificates) in respect of Deposits, other than distributions made as of such date in respect of
interest or Premium or reimbursement of any costs or expenses incurred in connection therewith.
The Pool Balance as of any Distribution Date with respect to each Class shall be computed after
giving effect to any distribution with respect to unused Deposits (in the case of the Class A
Certificates), the payment of principal, if any, on the Equipment Notes or payment with respect to
other Trust Property held in the related Trust and the distribution thereof to be made on such
date.

          “Post-Default Appraisal” has the meaning specified in Section 4.1(a)(iv).

          “Premium” means any “Make-Whole Amount” as such term is defined in any Indenture.

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          “Proceeding” means any suit in equity, action at law or other judicial or administrative
proceeding.

          “PTC Event of Default” means, with respect to each Trust Agreement, the failure to distribute
within 10 Business Days after the applicable Distribution Date: (i) the outstanding Pool Balance
of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or
(ii) interest scheduled for distribution on such Certificates on any Distribution Date (unless, in
the case of the Class A Trust Agreement or the Class B Trust Agreement, the Subordination Agent
shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a
Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay
such interest and shall have distributed such amount to the Trustee entitled thereto).

          “Rating Agencies” means, with respect to any Class of Certificates, collectively, at any time,
each nationally recognized rating agency which shall have been requested to rate such Class of
Certificates and which shall then be rating such Class of Certificates. The initial Rating
Agencies for the Class A Certificates will be Moody’s and S&P.

          “Ratings Confirmation” means, with respect to any action proposed to be taken, with respect to
any Class of Certificates, a written confirmation from each of the Rating Agencies that such action
would not result in (i) a reduction of the rating for such Class of Certificates below the then
current rating for such Class of Certificates or (ii) a withdrawal or suspension of the rating of
such Class of Certificates.

          “Refinancing Certificateholders” has the meaning specified in Section 8.01(c).

          “Refinancing Certificates” has the meaning specified in Section 8.01(c).

          “Refinancing Equipment Notes” has the meaning specified in Section 8.01(c).

          “Refinancing Trust Agreement” has the meaning specified in Section 8.01(c).

          “Refinancing Trust” has the meaning specified in Section 8.01(c).

          “Refinancing Trustee” has the meaning specified in Section 8.01(c).

          “Register”, with respect to any Trust, has the meaning ascribed to such term in the Trust
Agreement for such Trust.

          “Regular Distribution Dates” means each January 2 and July 2, commencing on January 2, 2011;
provided, however, that, if any such day shall not be a Business Day, the related distribution
shall be made on the next succeeding Business Day without additional interest.

          “Replacement Depositary” has the meaning specified in the Note Purchase Agreement.

          “Replacement Liquidity Facility” means, for any Liquidity Facility, an irrevocable revolving
credit agreement (or agreements) in substantially the form of the replaced

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Liquidity Facility, including reinstatement provisions, or in such other form (which may
include a letter of credit, surety bond, financial insurance policy or guaranty) as shall permit
the Rating Agencies to confirm in writing their respective ratings then in effect for the
Certificates of the Class with respect to which such Liquidity Facility was issued (before
downgrading of such ratings, if any, as a result of the downgrading, if any, of the applicable
Liquidity Provider), in a face amount (or in an aggregate face amount) equal to the applicable
Required Amount and issued by a Person (or Persons) having Short-Term Ratings issued by the
applicable Rating Agencies that are equal to or higher than the Threshold Rating specified in
clause (i) of the definition of Threshold Rating or if such Person (or Persons) does not have a
Short-Term Rating from a given applicable Rating Agency, a Long-Term Rating issued by such
applicable Rating Agency that is equal to or higher than the Threshold Rating specified in
clause (ii) of the definition of Threshold Rating. Without limitation of the form that a
Replacement Liquidity Facility otherwise may have pursuant to the preceding sentence, a Replacement
Liquidity Facility for any Class of Certificates may have a stated expiration date earlier than 15
days after the Final Legal Distribution Date of such Class of Certificates so long as such
Replacement Liquidity Facility provides for a Non-Extension Drawing as contemplated by
Section 3.05(d) hereof.

          “Replacement Liquidity Provider” means a Person (or Persons) who issues a Replacement
Liquidity Facility.

          “Required Amount” means, with respect to each Liquidity Facility or the Cash Collateral
Account for any Class, for any day, the sum of the aggregate amount of interest, calculated at the
rate per annum equal to the Stated Interest Rate for the related Class of Certificates on the basis
of a 360-day year comprised of twelve 30-day months, that would be distributable on such Class of
Certificates on each of the three successive Regular Distribution Dates immediately following such
day, in each case calculated on the basis of the Pool Balance of such Class of Certificates on such
date and without regard to expected future distributions of principal on such Class of
Certificates.

          “Responsible Officer” means (i) with respect to the Subordination Agent and each of the
Trustees, any officer in the Corporate Trust Department or similar department of the Subordination
Agent or such 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, and (ii) with respect to any Liquidity Provider, any authorized officer of such Liquidity
Provider.

          “S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC
business.

          “Scheduled Payment” means, with respect to any Equipment Note, (i) any payment of principal or
interest on such Equipment Note (other than an Overdue Scheduled Payment) or (ii) any distribution
in respect of interest on such Equipment Note to the Certificateholders of Certificates of the
corresponding Class of Certificates with funds drawn under the Liquidity Facility for such Class or
withdrawn from the Cash Collateral Account for such Class, which payment in the case of clause (i)
or clause (ii) represents an installment of

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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.

          “Scheduled Payment Date” means, with respect to any Scheduled Payment, the date on which such
Scheduled Payment is scheduled to be made.

          “Section 2.04 Fraction” means, with respect to any Special Distribution Date, a fraction, the
numerator of which shall be the amount of principal of the applicable Series A Equipment Notes and
Series B Equipment Notes being redeemed, purchased or prepaid on such Special Distribution Date,
and the denominator of which shall be the aggregate unpaid principal amount of all Series A
Equipment Notes and Series B Equipment Notes outstanding as of such Special Distribution Date.

          “Series A Equipment Notes” means the equipment notes, if any, issued pursuant to each
Indenture by Delta and authenticated by the Loan Trustee thereunder, and designated “Series A
Equipment Notes” thereunder, and any such Equipment Notes issued in exchange therefor or
replacement thereof pursuant to the terms of such Indenture.

          “Series B Equipment Notes” means the equipment notes, if any, issued pursuant to each
Indenture by Delta and authenticated by the Loan Trustee thereunder, and designated “Series B
Equipment Notes” thereunder, and any such Equipment Notes issued in exchange therefor or
replacement thereof pursuant to the terms of such Indenture.

          “60-Day Period” means 60-day period specified in Section 1110(a)(2)(A) of the Bankruptcy Code.

          “Short-Term Rating” means, for any entity, (a) in the case of Moody’s, the short-term senior
unsecured debt rating of such entity and (b) in the case of S&P, the short-term issuer credit
rating of such entity.

          “Special Distribution Date” means, with respect to any Special Payment, the Business Day
chosen by the Subordination Agent pursuant to Section 2.04(a) for the distribution of such Special
Payment in accordance with this Agreement.

          “Special Payment” means any payment (other than a Scheduled Payment) in respect of, or any
proceeds of, any Equipment Note or Collateral.

          “Special Payments Account” means the Eligible Deposit Account created pursuant to
Section 2.02(a) as a sub-account to the Collection Account.

          “Special Termination Drawing” has the meaning assigned to such term in Section 3.05(k).

          “Special Termination Notice” with respect to any Liquidity Facility has the meaning assigned
to such term (if such term is used therein) in such Liquidity Facility.

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          “Stated Amount” with respect to any Liquidity Facility, means the Maximum Commitment (as
defined in such Liquidity Facility) of the applicable Liquidity Provider thereunder.

          “Stated Expiration Date” has the meaning specified in Section 3.05(d).

          “Stated Interest Rate” means with respect to the Class A Certificates, 6.20% per annum, and
(ii) with respect to the Class B Certificates, the rate per annum determined as such for the
Class B Certificates.

          “Subordination Agent” has the meaning specified in the introductory paragraph to this
Agreement.

          “Subordination Agent Incumbency Certificate” has the meaning specified in Section 2.05(a).

          “Subordination Agent Representatives” has the meaning specified in Section 2.05(a).

          “Tax” and “Taxes” means all governmental fees (including, without limitation, license, filing
and registration fees) and all taxes (including, without limitation, franchise, excise, stamp,
value added, income, gross receipts, sales, use and property taxes), withholdings, assessments,
levies, imposts, duties or charges, of any nature whatsoever, together with any related penalties,
fines, additions to tax or interest thereon imposed, withheld, levied or assessed by any country,
taxing authority or governmental subdivision thereof or therein or by any international authority,
including any taxes imposed on any Person as a result of such Person being required to collect and
pay over withholding taxes.

          “Termination Notice” has the meaning specified in the Liquidity Facility.

          “Threshold Rating” means (i) a Short-Term Rating of P-1 in the case of Moody’s and A-1 in the
case of S&P and (ii) in the case of any entity that does not have a Short-Term Rating from any or
all of the Rating Agencies, then in lieu of such Short-Term Rating from any such Rating Agency or
Rating Agencies, a Long-Term Rating of A2 in the case of Moody’s and A in the case of S&P.

          “Treasury Regulations” means regulations, including proposed or temporary regulations,
promulgated under the Code. References herein to specific provisions of proposed or temporary
regulations shall include analogous provisions of final Treasury Regulations or other successor
Treasury Regulations.

          “Triggering Event” means (x) the occurrence of an Indenture Event of Default under all of the
Indentures resulting in a PTC Event of Default with respect to the most senior Class of
Certificates then Outstanding, (y) the Acceleration of all of the outstanding Equipment Notes;
provided that, with respect to the period prior to the Delivery Period Termination Date, the
aggregate principal balance of such Equipment Notes is in excess of $150,000,000 or (z) the
occurrence of a Delta Bankruptcy Event.

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          “Trust” means the Class A Trust or, if created, the Class B Trust.

          “Trust Accounts” has the meaning specified in Section 2.02(a).

          “Trust Agreement” means the Class A Trust Agreement or the Class B Trust Agreement.

          “Trust Property”, with respect to any Trust, has the meaning specified in the Trust Agreement
for such Trust.

          “Trust Supplement” means an agreement supplemental to the Basic Agreement pursuant to which
(i) a separate trust is created for the benefit of the holders of Certificates of a Class, (ii) the
issuance of the Certificates of a Class representing Fractional Undivided Interests in such trust
is authorized and (iii) the terms of the Certificates of such Class are established, as such
agreement may from time to time be supplemented, amended or otherwise modified.

          “Trustee” means the Class A Trustee or, if the Class B Trust shall have been created, the
Class B Trustee.

          “Trustee Incumbency Certificate” has the meaning specified in Section 2.05(b).

          “Trustee Representatives” has the meaning specified in Section 2.05(b).

          “Unapplied Provider Advance” has the meaning specified in the applicable Liquidity Facility.

          “Underwriters” means Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC.

          “Underwriting Agreement” means the Underwriting Agreement, dated June 28, 2010 among the
Underwriters and Delta, as the same may be amended, supplemented or otherwise modified from time to
time in accordance with its terms.

          “United States” means the United States of America.

          “U.S. Bank” has the meaning specified in the introductory paragraph of this Agreement.

          “Withdrawal Notice” has the meaning specified in Section 3.05(d).

          “Written Notice” means, from the Subordination Agent, any Trustee or Liquidity Provider, a
written instrument executed by the Designated Representative of such Person. An invoice delivered
by the Liquidity Providers pursuant to Section 3.01 in accordance with its normal invoicing
procedures shall constitute Written Notice under such Section.

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ARTICLE II

TRUST ACCOUNTS; CONTROLLING PARTY

          Section 2.01. Agreement to Terms of Subordination; Payments from Monies Received Only.
(a) Each of the Class A Trustee and, upon accession hereto, the Class B Trustee hereby (i)
acknowledges and agrees to the terms of subordination and distribution set forth in this Agreement
in respect of each Class of Certificates and (ii) agrees to enforce such provisions and cause all
payments in respect of the Equipment Notes held by the Subordination Agent and the Liquidity
Facilities to be applied in accordance with the terms of this Agreement. In addition, each of the
Class A Trustee and, upon accession hereto, the Class B Trustee hereby agrees to cause the
Equipment Notes purchased by the related Trust to be registered in the name of the Subordination
Agent or its nominee, as agent and trustee for such Trustee, to be held in trust by the
Subordination Agent solely for the purpose of facilitating the enforcement of the subordination and
other provisions of this Agreement.

          (b) Except as otherwise expressly provided in the next succeeding sentence of this Section
2.01(b), all payments to be made by the Subordination Agent hereunder shall be made only from
amounts received by it that constitute Scheduled Payments, Special Payments and other payments
under the Operative Agreements, including payments under Section 4.02 of the Participation
Agreements and Section 2.14 of the Indentures, and only to the extent that the Subordination Agent
shall have received sufficient income or proceeds therefrom to enable it to make such payments in
accordance with the terms hereof. Each of the Class A Trustee and, upon accession hereto, the
Class B Trustee and the Subordination Agent hereby agrees, and each Certificateholder, by its
acceptance of a Certificate, and each Liquidity Provider, by entering into the Liquidity Facility
to which it is or will be a party, has agreed or will agree, as applicable, to look solely to such
amounts to the extent available for distribution to it as provided in this Agreement, (in the case
of the Class A Certificateholders only) the Deposits or the applicable Trust Agreement, as the case
may be, and that none of the Trustees, the Loan Trustees or the Subordination Agent is personally
liable to any of them for any amounts payable or any liability arising under this Agreement, any
Trust Agreement, any Liquidity Facility or such Certificate, except (in the case of the
Subordination Agent) as expressly provided herein or (in the case of the Trustees) as expressly
provided herein and in each Trust Agreement or (in the case of the Loan Trustees) as expressly
provided in any Operative Agreement.

          (c) Notwithstanding anything to the contrary in this Agreement and in the other Operative
Agreements, the Certificates do not represent indebtedness of the related Trust, and references in
this Agreement and the Operative Agreements to accrued interest or principal amounts payable on the
Certificates of any Class are included only for computational purposes. For purposes of such
computations, the Certificates of any Class shall be deemed to be comprised of interest and
principal components, with the principal component deemed to be the Pool Balance, and the interest
component deemed to equal interest accruing at the Stated Interest Rate for such Class of
Certificates from (i) the later of (1) the date of the issuance thereof and (2) the most recent but
preceding Distribution Date to which such interest was distributed (ii) to, but excluding, the
applicable date of determination, such interest to be considered payable in arrears and to be
calculated on the basis of a 360-day year comprised of twelve 30-day months.

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          Section 2.02. Trust Accounts. (a) Upon the execution of this Agreement, the
Subordination Agent shall establish and maintain in its name (i) the Collection Account as an
Eligible Deposit Account, bearing a designation clearly indicating that the funds deposited therein
are held in trust for the benefit of the Trustees, the Certificateholders and the Liquidity
Providers, and (ii) as a sub-account in the Collection Account, the Special Payments Account as an
Eligible Deposit Account, bearing a designation clearly indicating that the funds deposited therein
are held in trust for the benefit of the Trustees, the Certificateholders and the Liquidity
Providers. The Subordination Agent shall establish and maintain the Cash Collateral Accounts
pursuant to and under the circumstances set forth in Section 3.05(f). Upon such establishment and
maintenance under Section 3.05(f), the Cash Collateral Accounts shall, together with the Collection
Account, constitute the “Trust Accounts” hereunder. Without limiting the foregoing, all monies
credited to the Trust Accounts shall be, and shall remain, the property of the relevant Trust(s).

          (b) Funds on deposit in the Trust Accounts shall be invested and reinvested by the
Subordination Agent in Eligible Investments selected by Delta or its designated representative if
such investments are reasonably available and have maturities no later than the earlier of (i) 90
days following the date of such investment and (ii) the Business Day immediately preceding the
Regular Distribution Date or the date of the related distribution pursuant to Section 2.04, as the
case may be, next following the date of such investment; provided, however, that, following the
making of a Non-Extension Drawing under any Liquidity Facility, the Subordination Agent shall
invest and reinvest the amounts in the applicable Cash Collateral Account in Eligible Investments
pursuant to the written instructions of the Liquidity Provider funding such Drawing, and provided
further, however, that upon the occurrence and during the continuation of a Triggering Event, the
Subordination Agent shall invest and reinvest the amounts on deposit in the Trust Accounts (other
than amounts in the Cash Collateral Accounts as a result of a Non-Extension Drawing, which shall be
governed by the foregoing proviso) in Eligible Investments in accordance with the written
instructions of the Controlling Party. Unless otherwise expressly provided in this Agreement
(including, without limitation, with respect to Investment Earnings on amounts on deposit in the
Cash Collateral Accounts, Section 3.05(f)), any Investment Earnings shall be deposited in the
Collection Account when received by the Subordination Agent and shall be applied by the
Subordination Agent in the same manner as the other amounts on deposit in the Collection Account
are to be applied. The Subordination Agent’s reasonable fees and expenses actually incurred in
making such investments and any losses incurred in such investments shall be charged against the
principal amount invested. The Subordination Agent shall not be liable for any loss resulting from
any investment, reinvestment or liquidation required to be made under this Agreement other than by
reason of its willful misconduct or negligence. Eligible Investments and any other investment
required to be made hereunder shall be held to their maturities except that any such investment may
be sold (without regard to its maturity) by the Subordination Agent without instructions whenever
such sale is necessary to make a distribution required under this Agreement. Uninvested funds held
hereunder shall not earn or accrue interest.

          (c) The Subordination Agent shall possess all right, title and interest in all funds on
deposit from time to time in the Trust Accounts and in all proceeds thereof (including all income
thereon, except as otherwise expressly provided herein with respect to Investment Earnings). The
Trust Accounts shall be held in trust by the Subordination Agent under the sole

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dominion and control of the Subordination Agent for the benefit of the applicable Trustee, the
applicable Certificateholders and the applicable Liquidity Provider, as the case may be. If, at
any time, any of the Trust Accounts ceases to be an Eligible Deposit Account, the Subordination
Agent shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, to
which a Rating Agency may consent) establish a new Collection Account, Special Payments Account or
Cash Collateral Account, as the case may be, as an Eligible Deposit Account and shall transfer any
cash and/or any investments to such new Collection Account, Special Payments Account or Cash
Collateral Account, as the case may be. So long as the Subordination Agent is an Eligible
Institution, the Trust Accounts shall be maintained with it as Eligible Deposit Accounts.

          Section 2.03. Deposits to the Collection Account and Special Payments Account. (a)
The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all
Scheduled Payments received by it (other than any Scheduled Payment which by the express terms
hereof is to be deposited to a Cash Collateral Account).

          (b) The Subordination Agent shall, on each day when one or more Special Payments are made to
the Subordination Agent as holder of the Equipment Notes, deposit in the Special Payments Account
the aggregate amount of such Special Payments.

          Section 2.04. Distributions of Special Payments. (a) Notice of Special Payment.
Except as provided in Section 2.04(c) below, upon receipt by the Subordination Agent, as registered
holder of the Equipment Notes, of any notice of a Special Payment (or, in the absence of any such
notice, upon receipt by the Subordination Agent of a Special Payment), the Subordination Agent
shall promptly give notice thereof to each Trustee and the Liquidity Providers. The Subordination
Agent shall promptly calculate the amount of the proceeds of any redemption or purchase of any
Equipment Note or the amount of any Overdue Scheduled Payment or the proceeds of Equipment Notes or
Collateral, as the case may be, comprising such Special Payment under the applicable Indenture or
Indentures and shall promptly send to each Trustee and the Liquidity Providers a Written Notice of
such amount and the amount allocable to each Trust. Such Written Notice shall also set the
distribution date for such Special Payment (a “Special Distribution Date”), which shall be the
Business Day which immediately follows the later to occur of (x) the 15th day after the date of
such Written Notice or (y) the date the Subordination Agent has received or expects to receive such
Special Payment. Amounts on deposit in the Special Payments Account shall be distributed in
accordance with Sections 2.04(b) and 2.04(c) and Article III hereof, as applicable.

          For the purposes of the application of any Special Payment in respect of any Equipment Note to
be distributed on any Special Distribution Date in accordance with Section 3.02 hereof, so long as
no Indenture Event of Default shall have occurred and be continuing under any Indenture:

          (i) clause “second” thereof shall be deemed to read as follows: “second, accrued and unpaid
Liquidity Expenses then overdue plus an amount equal to all accrued and unpaid Liquidity Expenses
not yet overdue multiplied by the Section 2.04 Fraction shall be distributed to the Liquidity
Providers pro rata on the basis of the amount of Liquidity Expenses owed to each Liquidity
Provider”;

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          (ii) clause “third” thereof shall be deemed to read as follows: “third, (i) such amount as
shall be required to pay accrued and unpaid interest then overdue on all Liquidity Obligations (at
the rate, or in the amount, provided in the applicable Liquidity Facility) plus an amount equal to
the amount of accrued and unpaid interest on the Liquidity Obligations not yet overdue multiplied
by the Section 2.04 Fraction and (ii) if one or more Special Termination Drawings have been made
under the Liquidity Facilities, the outstanding amount of such Special Termination Drawings shall
be distributed to the Liquidity Providers, pro rata on the basis of the amounts owed to each
Liquidity Provider”;

          (iii) clause “seventh” thereof shall be deemed to read as follows: “seventh, such amount as
shall be required to pay accrued, due and unpaid interest at the Stated Interest Rate on the
outstanding Pool Balance of the Class A Certificates, together with (without duplication) any other
accrued and unpaid interest at the Stated Interest Rate on the outstanding principal amount of the
Series A Equipment Notes held in the Class A Trust being redeemed, purchased or prepaid, in each
case excluding interest, if any, payable with respect to the Deposits relating to the Class A Trust
shall be paid to the Class A Trustee”;

          (iv) clause “eighth” thereof shall be deemed to read as follows: “eighth, such amount as
shall be required to pay any accrued, due and unpaid Class B Adjusted Interest to the holders of
the Class B Certificates shall be paid to the Class B Trustee”; and

          (v) clause “tenth” thereof shall be deemed to read as follows: “tenth, such amount as shall
be required to pay in full accrued, due and unpaid interest at the Stated Interest Rate on the
outstanding Pool Balance of the Class B Certificates which was not previously paid pursuant to
clause “eighth” above to the holders of the Class B Certificates, together with (without
duplication) any other accrued and unpaid interest at the Stated Interest Rate on the outstanding
principal amount of the Series B Equipment Notes held in the Class B Trust and being redeemed,
purchased or prepaid, shall be paid to the Class B Trustee”.

          (b) Investment of Amounts in Special Payments Account. Any amounts on deposit in the
Special Payments Account prior to the distribution thereof pursuant to Section 2.04 or 3.02 shall
be invested in accordance with Section 2.02(b). Investment Earnings on such investments shall be
distributed in accordance with Article III hereof.

          (c) Certain Payments. Except for amounts constituting Liquidity Obligations which
shall be distributed as provided in Section 3.02, the Subordination Agent will distribute promptly
upon receipt thereof (i) any indemnity payment or expense reimbursement received by it from Delta
in respect of any Trustee, any Liquidity Provider, the Paying Agent, the Depositary or the Escrow
Agent (collectively, the “Payees”) and (ii) any compensation received by it from Delta
under any Operative Agreement in respect of any Payee, directly to the Person entitled thereto,
provided that if such Payee has previously received from the Collection Account such payment,
compensation or reimbursement, then the Subordination Agent shall deposit such amount in the
Collection Account.

          Section 2.05. Designated Representatives. (a) With the delivery of this Agreement,
the Subordination Agent shall furnish to the Class A Liquidity Provider and the Class A Trustee,
and from time to time thereafter may furnish to each Liquidity Provider and

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each Trustee, at the Subordination Agent’s discretion, or upon any Liquidity Provider’s or
Trustee’s request (which request shall not be made more than one time in any 12-month period), a
certificate (a “Subordination Agent Incumbency Certificate”) of a Responsible Officer of the
Subordination Agent certifying as to the incumbency and specimen signatures of the officers of the
Subordination Agent and the attorney-in-fact and agents of the Subordination Agent (the
“Subordination Agent Representatives”) authorized to give Written Notices on behalf of the
Subordination Agent hereunder. Until each Liquidity Provider and Trustee receives a subsequent
Subordination Agent Incumbency Certificate, it shall be entitled to rely on the last Subordination
Agent Incumbency Certificate delivered to it hereunder.

          (b) With the delivery of this Agreement (or in the case of the Class B Trustee, upon the
accession hereto), each Trustee shall furnish to the Subordination Agent, and from time to time
thereafter may furnish to the Subordination Agent, at such Trustee’s discretion, or upon the
Subordination Agent’s request (which request shall not be made more than one time in any 12-month
period), a certificate (with respect to each such Trustee, a “Trustee Incumbency Certificate”) of a
Responsible Officer of such Trustee certifying as to the incumbency and specimen signatures of the
officers of such Trustee and the attorney-in-fact and agents of such Trustee (with respect to each
such Trustee, the “Trustee Representatives”) authorized to give Written Notices on behalf of such
Trustee hereunder. Until the Subordination Agent receives a subsequent Trustee Incumbency
Certificate from a Trustee, it shall be entitled to rely on the last Trustee Incumbency Certificate
with respect to such Trustee delivered to it hereunder.

          (c) With the delivery of this Agreement (or in the case of the Class B Liquidity Provider,
upon the accession hereto), each Liquidity Provider shall furnish to the Subordination Agent, and
from time to time thereafter may furnish to the Subordination Agent, at such Liquidity Provider’s
discretion, or upon the Subordination Agent’s request (which request shall not be made more than
one time in any 12-month period), a certificate (with respect to each such Liquidity Provider, an
“LP Incumbency Certificate”) of a Responsible Officer of such Liquidity Provider certifying as to
the incumbency and specimen signatures of the officers of such Liquidity Provider and the
attorney-in-fact and agents of such Liquidity Provider (with respect to each such Liquidity
Provider, the “LP Representatives” and, together with the Subordination Agent Representatives and
the Trustee Representatives, the “Designated Representatives”) authorized to give Written Notices
on behalf of such Liquidity Provider hereunder. Until the Subordination Agent receives a
subsequent LP Incumbency Certificate from a Liquidity Provider, it shall be entitled to rely on the
last LP Incumbency Certificate with respect to such Liquidity Provider delivered to it hereunder.

          Section 2.06. Controlling Party. (a) Subject to Section 8.01(b), the Trustees and
the Liquidity Providers hereby agree that, with respect to any Indenture at any given time, the
Loan Trustee thereunder will be directed: (i) so long as no Indenture Event of Default has
occurred and is continuing thereunder, in taking, or refraining from taking, any action under such
Indenture or with respect to the Equipment Notes issued thereunder by a Majority in Interest of
Noteholders of such Equipment Notes (provided that, for so long as the Subordination Agent is the
registered holder of such Equipment Notes, the Subordination Agent shall act with respect to this
clause (i) in accordance with the directions of the Trustees (in the case of each such Trustee,
with respect to the Equipment Notes issued under such Indenture and held as Trust Property of such
Trust) constituting, in the aggregate, directions with respect to an outstanding principal

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amount of such Equipment Notes that, if held by such Trustees directly, would make such
Trustees a Majority in Interest of Noteholders), and (ii) after the occurrence and during the
continuance of an Indenture Event of Default thereunder, in taking, or refraining from taking, any
action under such Indenture or with respect to such Equipment Notes issued thereunder, including
exercising remedies thereunder (including Accelerating the Equipment Notes issued thereunder or
foreclosing the Lien created thereunder on the Aircraft securing such Equipment Notes), by the
Controlling Party.

          (b) Subject to paragraph (c) below, the “Controlling Party” shall be (x) the Class A Trustee
and (y) upon payment of Final Distributions to the holders of Class A Certificates, the Class B
Trustee. For purposes of giving effect to the provisions of Section 2.06(a) and this Section
2.06(b), the Trustees (other than the Controlling Party) irrevocably agree (and the
Certificateholders (other than the Certificateholders represented by the Controlling Party) shall
be deemed to agree by virtue of their purchase of Certificates) that the Subordination Agent, as
record holder of the Equipment Notes, and subject always to the provisions of Section 2.06(a) and
Article VIII, shall exercise its voting rights in respect of the Equipment Notes so held by the
Subordination Agent as directed by the Controlling Party and any vote so exercised shall be binding
upon the Trustees and all Certificateholders.

          The Subordination Agent shall give Written Notice to all of the other parties to this
Agreement promptly upon a change in the identity of the Controlling Party. Each of the parties
hereto agrees that it shall not exercise any of the rights of the Controlling Party at such time as
it is not the Controlling Party hereunder; provided, however, that nothing herein contained shall
prevent or prohibit any Non-Controlling Party from exercising such rights as shall be specifically
granted to such Non-Controlling Party hereunder and under the other Operative Agreements.

          (c) Notwithstanding the foregoing, at any time after 18 months from the earliest to occur of
(i) the date on which the entire Available Amount as of such date under any Liquidity Facility
shall have been drawn (for any reason other than a Downgrade Drawing or a Non-Extension Drawing but
including a Final Drawing, a Special Termination Drawing or a Downgrade Drawing or Non-Extension
Drawing that has been converted into a Final Drawing under such Liquidity Facility) and remains
unreimbursed, (ii) the date on which the entire amount of any Downgrade Drawing or Non-Extension
Drawing under any Liquidity Facility shall have become and remain “Applied Downgrade Advances” or
“Applied Non-Extension Advances”, as the case may be, under and as defined in such Liquidity
Facility and (iii) the date on which all Equipment Notes under all Indentures shall have been
Accelerated (provided that (x) with respect to the period prior to the Delivery Period
Termination Date, such Equipment Notes have an aggregate outstanding principal balance of in excess
of $150,000,000, and (y) in the event of a bankruptcy proceeding under the Bankruptcy Code in which
Delta is a debtor, any amounts payable in respect of Equipment Notes which have become immediately
due and payable by declaration or otherwise shall not be considered Accelerated for purposes of
this sub-clause (iii) until the expiration of the 60-Day Period or such longer period as may apply
under Section 1110(a)(2)(B) or Section 1110(b) of the Bankruptcy Code), the Liquidity Provider with
the greatest amount of unreimbursed Liquidity Obligations owed to it (so long as such Liquidity
Provider has not defaulted in its obligation to make any Drawing under its Liquidity Facility)
shall have the right to elect, by Written Notice to the Subordination Agent and each of the

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Trustees, to become the Controlling Party hereunder with respect to any Indenture at any time
from and including the last day of such 18-month period.

          (d) [Reserved].

          (e) The exercise of remedies by the Controlling Party under this Agreement shall be expressly
limited by Sections 4.01(a)(ii) and 4.01(a)(iii) hereof.

          (f) The Controlling Party shall not be entitled to require or obligate any Non-Controlling
Party to provide funds necessary to exercise any right or remedy hereunder.

          (g) Notwithstanding anything contained herein, neither the Controlling Party nor the
Subordination Agent shall be authorized or empowered to do anything that would cause any Trust to
fail to qualify as a “grantor trust” for federal income tax purposes.

ARTICLE III

RECEIPT, DISTRIBUTION AND APPLICATION OF

AMOUNTS RECEIVED

          Section 3.01. Written Notice of Distribution. (a) No later than 3:00 P.M. (New York
City time) on the Business Day immediately preceding each Distribution Date, each of the following
Persons shall deliver to the Subordination Agent a Written Notice setting forth the following
information as at the close of business on such Business Day:

          (i) With respect to the Class A Certificates, the Class A Trustee shall separately set
forth the amounts to be paid in accordance with clause “first” (to reimburse payments made
by such Trustee or the Class A Certificateholders, as the case may be, pursuant to subclause
(ii) or (iv) of clause “first”) of Section 3.02 hereof, subclauses (ii) and (iii) of clause
“sixth” of Section 3.02 hereof and clauses “seventh” and “ninth” of Section 3.02 hereof;

          (ii) With respect to the Class B Certificates, if issued, the Class B Trustee shall
separately set forth the amounts to be paid in accordance with clause “first” (to reimburse
payments made by such Trustee or the Class B Certificateholders, as the case may be,
pursuant to subclause (ii) or (iv) of clause “first”) of Section 3.02 hereof, subclauses
(ii) and (iii) of clause “sixth” of Section 3.02 hereof and clauses “eighth”, “tenth” and
“eleventh” of Section 3.02 hereof;

          (iii) With respect to each Liquidity Facility, the Liquidity Provider thereunder shall
separately set forth the amounts to be paid to it in accordance with subclauses (iii) and
(iv) of clause “first” of Section 3.02 hereof, clause “second” of Section 3.02 hereof,
clause “third” of Section 3.02 hereof, clause “fourth” of Section 3.02 hereof and clause
“fifth” of Section 3.02 hereof; and

          (iv) The Trustee of each Trust in existence as of such Distribution Date shall set
forth the amounts to be paid in accordance with clause “sixth” of Section 3.02 hereof.

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          (b) At such time as a Trustee or a Liquidity Provider shall have received all amounts owing to
it (and, in the case of a Trustee, the Certificateholders for which it is acting) pursuant to
Section 3.02 hereof, as applicable, and, in the case of a Liquidity Provider, its commitment or
obligations under the related Liquidity Facility shall have terminated or expired, such Person
shall, by a Written Notice, so inform the Subordination Agent, Delta and each other party to this
Agreement.

          (c) As provided in Section 6.05, the Subordination Agent shall be fully protected in relying
on any of the information set forth in a Written Notice provided by any Trustee or any Liquidity
Provider pursuant to paragraphs (a) and (b) above and shall have no independent obligation to
verify, calculate or recalculate any amount set forth in any Written Notice delivered in accordance
with such paragraphs.

          (d) Any Written Notice delivered by a Trustee, a Liquidity Provider or the Subordination
Agent, as applicable, pursuant to Section 3.01, if made prior to 10:00 A.M. (New York City time) on
any Business Day shall be effective on the date delivered (or if delivered later on a Business Day
or if delivered on a day that is not a Business Day shall be effective as of the next Business
Day). Subject to the terms of this Agreement, the Subordination Agent shall as promptly as
practicable comply with any such instructions; provided, however, that any transfer of funds
pursuant to any instruction received after 10:00 A.M. (New York City time) on any Business Day may
be made on the next succeeding Business Day.

          (e) In the event the Subordination Agent shall not receive from any Person any information set
forth in paragraph (a) above which is required to enable the Subordination Agent to make a
distribution to such Person pursuant to Section 3.02 hereof, the Subordination Agent shall request
such information and, failing to receive any such information, the Subordination Agent shall not
make such distribution(s) to such Person. In such event, the Subordination Agent shall make
distributions pursuant to clauses “first” through “eleventh” of Section 3.02 to the extent it shall
have sufficient information to enable it to make such distributions, and shall continue to hold any
funds remaining on the terms hereof, including Section 2.02(b), after making such distributions,
until the Subordination Agent shall receive all necessary information to enable it to distribute
any funds so withheld, and upon receipt of the information necessary to distribute any funds so
withheld, the Subordination Agent shall distribute such funds.

          (f) On such dates (but not more frequently than monthly) as any Liquidity Provider or any
Trustee shall request, but in any event automatically at the end of each calendar quarter, the
Subordination Agent shall send to such party a written statement reflecting all amounts on deposit
with the Subordination Agent pursuant to Section 3.01(e).

          The notices required under this Section 3.01(a) may be in the form of a schedule or similar
document provided to the Subordination Agent by the parties referenced therein or by any one of
them, which schedule or similar document may state that, unless there has been a prepayment of the
Equipment Notes, such schedule or similar document is to remain in effect until any substitute
notice or amendment shall be given to the Subordination Agent by the party providing such notice.

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          Section 3.02. Distribution of Amounts on Deposit in the Collection Account. Except as
otherwise provided in Sections 2.04, 3.01(e), 3.03, 3.05(b) and 3.05(k), amounts on deposit in the
Collection Account (including amounts on deposit in the Special Payments Account) shall be promptly
distributed on each Regular Distribution Date (or, in the case of any amount described in Sections
2.04(a) or 2.04(b), on the Special Distribution Date thereof) in the following order of priority
and in accordance with the information provided to the Subordination Agent pursuant to Section
3.01(a):

     first, such amount as shall be required to reimburse (i) the Subordination Agent
for any reasonable out-of-pocket costs and expenses actually incurred by it (to the extent not
previously reimbursed) or reasonably expected to be incurred by it for the period ending on the
next succeeding Regular Distribution Date (which shall not exceed $150,000 unless approved in
writing by the Controlling Party and accompanied by evidence that such costs are actually
expected to be incurred) in the protection of, or the realization of the value of, the Equipment
Notes or any Collateral, shall be applied by the Subordination Agent in reimbursement of such
costs and expenses, (ii) any Trustee for any amounts of the nature described in clause (i) above
actually incurred by it under the applicable Trust Agreement (to the extent not previously
reimbursed), shall be distributed to such Trustee, (iii) any Liquidity Provider for any amounts
of the nature described in clause (i) above actually incurred by it (to the extent not
previously reimbursed), shall be distributed to such Liquidity Provider, and (iv) any Liquidity
Provider or any Certificateholder for payments, if any, made by it to the Subordination Agent or
any Trustee in respect of amounts described in clause (i) above actually incurred by it (to the
extent not previously reimbursed) (collectively, the “Administration Expenses”), shall be
distributed to such Liquidity Provider or the applicable Trustee for the account of such
Certificateholder, in each such case, pro rata on the basis of all amounts described in clauses
(i) through (iv) above;

     second, such amount as shall be required to pay all accrued and unpaid Liquidity
Expenses owed to each Liquidity Provider (other than amounts distributed pursuant to clause
“first” of this Section 3.02) shall be distributed to the Liquidity Providers pro rata on the
basis of the amount of Liquidity Expenses owed to each Liquidity Provider;

     third, such amount as shall be required to pay (i) the aggregate amount of accrued
and unpaid interest on all Liquidity Obligations (at the rate, or in the amount, provided in the
applicable Liquidity Facility), and (ii) if one or more Special Termination Drawings have been
made under the Liquidity Facilities, the outstanding amount of each such Special Termination
Drawing that has not been converted into a Final Drawing, pro rata on the basis of the amounts
owed to each Liquidity Provider;

     fourth, such amount as shall be required (A) if any Cash Collateral Account had
been previously funded as provided in Section 3.05(f), unless (i) on such Distribution Date a
Performing Note Deficiency exists and a Liquidity Event of Default shall have occurred and be
continuing with respect to the relevant Liquidity Facility or (ii) a Final Drawing shall have
occurred with respect to such Liquidity Facility, to fund such Cash Collateral Account up to its
Required Amount shall be deposited in such Cash Collateral Account, (B) if any Liquidity
Facility shall become a Downgraded Facility or a Non-Extended Facility at a time when
unreimbursed Interest Drawings under such Liquidity Facility have reduced the Available Amount
thereunder to zero, unless (i) on such Distribution Date a Performing Note

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     Deficiency exists and a Liquidity Event of Default shall have occurred and be continuing
with respect to the relevant Liquidity Facility or (ii) a Final Drawing shall have occurred with
respect to such Liquidity Facility, to fund such Cash Collateral Account up to its Required
Amount shall be deposited in the related Cash Collateral Account, and (C) if, with respect to
any particular Liquidity Facility neither subclause (A) nor subclause (B) of this clause
“fourth” is applicable, to pay or reimburse the Liquidity Provider in respect of such Liquidity
Facility in an amount equal to the outstanding amount of all Liquidity Obligations then due
under such Liquidity Facility (other than amounts distributed pursuant to clauses “first”,
“second” or “third” of this Section 3.02), pro rata on the basis of the amounts of all such
fundings and/or unreimbursed Liquidity Obligations payable to each Liquidity Provider;

     fifth, if, with respect to any particular Liquidity Facility, any amounts are to be
distributed pursuant to either subclause (A) or (B) of clause “fourth” above, then the Liquidity
Provider with respect to such Liquidity Facility shall be paid the excess of (x) the aggregate
outstanding amount of unreimbursed Advances (whether or not then due) under such Liquidity
Facility over (y) the Required Amount for the relevant Cash Collateral Account without
duplication of any amounts distributed pursuant to clauses “first”, “second”, “third”, and
“fourth” of this Section 3.02, pro rata on the basis of such amounts in respect of such
Liquidity Provider;

     sixth, such amount as shall be required to reimburse or pay (i) the Subordination
Agent for any Tax (other than Taxes imposed on compensation paid hereunder), expense, fee,
charge or other loss incurred by, or any other amount payable to, the Subordination Agent in
connection with the transactions contemplated hereby (to the extent not previously reimbursed),
shall be applied by the Subordination Agent in reimbursement of such amount, (ii) each Trustee
for any Tax (other than Taxes imposed on compensation paid under the applicable Trust
Agreement), expense, fee, charge or other loss incurred by, or any other amount payable to, such
Trustee under the applicable Trust Agreements (to the extent not previously reimbursed), shall
be distributed to such Trustee, and (iii) each Certificateholder for payments, if any, made by
it pursuant to Section 5.02 hereof in respect of amounts described in clause (i) above (without
duplication of any amounts distributed pursuant to subclause (iv) of clause “first” of this
Section 3.02) shall be distributed to the applicable Trustee for the account of such
Certificateholder, in each such case, pro rata, without duplication, on the basis of all amounts
described in clauses (i) through (iii) above;

     seventh, such amount as shall be required to pay in full accrued and unpaid
interest at the Stated Interest Rate on the Pool Balance of the Class A Certificates (excluding
interest, if any, payable with respect to the Deposits) shall be distributed to the Class A
Trustee;

     eighth, such amount as shall be required to pay unpaid Class B Adjusted Interest to
the holders of the Class B Certificates shall be distributed to the Class B Trustee;

     ninth, such amount as shall be required to pay in full Expected Distributions to
the holders of the Class A Certificates on such Distribution Date shall be distributed to the
Class A Trustee;

     tenth, such amount as shall be required to pay in full accrued and unpaid interest
at the Stated Interest Rate on the Pool Balance of the Class B Certificates which was not

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     previously paid pursuant to clause “eighth” above to the holders of the Class B
Certificates shall be distributed to the Class B Trustee;

     eleventh, such amount as shall be required to pay in full Expected Distributions to
the holders of the Class B Certificates on such Distribution Date shall be distributed to the
Class B Trustee; and

     twelfth, the balance, if any, of any such amount remaining thereafter shall be held
in the Collection Account for later distribution in accordance with this Article III.

          With respect to clauses “first” and “sixth” above, no amounts shall be reimbursable to the
Subordination Agent, any Trustee, any Liquidity Provider or any Certificateholder for any payments
made by any such Person in connection with any Equipment Note that is no longer held by the
Subordination Agent (to the extent that such payments relate to periods after such Equipment Note
ceases to be held by the Subordination Agent).

          Section 3.03. Other Payments. (a) Any payments received by the Subordination Agent
for which no provision as to the application thereof is made in this Agreement shall be distributed
by the Subordination Agent (i) in the order of priority specified in Section 3.02 hereof and (ii)
to the extent received or realized at any time after the Final Distributions for each Class of
Certificates have been made, in the manner provided in clause “first” of Section 3.02 hereof.

          (b) Notwithstanding the priority of payments specified in Section 3.02, in the event any
Investment Earnings on amounts on deposit in any Cash Collateral Account resulting from an
Unapplied Provider Advance are deposited in the Collection Account or the Special Payments Account,
such Investment Earnings shall be used to pay interest payable in respect of such Unapplied
Provider Advance to the extent of such Investment Earnings.

          (c) If the Subordination Agent receives any Scheduled Payment after the Scheduled Payment Date
relating thereto, but prior to such payment becoming an Overdue Scheduled Payment, then the
Subordination Agent shall deposit such Scheduled Payment in the Collection Account and promptly
distribute such Scheduled Payment in accordance with the priority of distributions set forth in
Section 3.02; provided that, for the purposes of this Section 3.03(c) only, each reference in
clause “ninth” and "eleventh” of Section 3.02 to “Distribution Date” shall be deemed to refer to
such Scheduled Payment Date.

          Section 3.04. Payments to the Trustees and the Liquidity Providers. Any amounts
distributed hereunder to any Liquidity Provider shall be paid by wire transfer of funds to the
address such Liquidity Provider shall provide to the Subordination Agent. The Subordination Agent
shall provide a Written Notice of any such transfer to the applicable Liquidity Provider at the
time of such transfer. Any amounts distributed hereunder by the Subordination Agent to any Trustee
that is not the same institution as the Subordination Agent shall be paid to such Trustee by wire
transfer of funds at the address such Trustee shall provide to the Subordination Agent.

          Section 3.05. Liquidity Facilities. (a) Interest Drawings. If on any
Distribution Date, after giving effect to the subordination provisions of this Agreement, the
Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in
respect of accrued interest on the Class A Certificates or the Class B Certificates (at the Stated
Interest

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Rate for such Class of Certificates) (other than any amount of interest which was due and
payable on the Class A Certificates on such Distribution Date but which remains unpaid due to the
failure of the Depositary to pay any amount of accrued interest on the Deposits on such
Distribution Date), then, prior to 12:30 p.m. (New York City time) on such Distribution Date, (i)
the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”) under
the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser
of (x) an amount sufficient to pay the amount of such accrued interest shortfall (at the applicable
Stated Interest Rate for such Class of Certificates) and (y) the Available Amount under such
Liquidity Facility, and shall upon receipt of such amount pay such amount to the Trustee with
respect to each such Class of Certificates in payment of such accrued interest shortfall.

          (b) Application of Interest Drawings. Notwithstanding anything to the contrary
contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an
Interest Drawing under the Class A Liquidity Facility and all amounts withdrawn by the
Subordination Agent from the Class A Cash Collateral Account, and payable in each case to the Class
A Certificateholders or the Class A Trustee, shall be promptly distributed to the Class A Trustee,
and (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under
the Class B Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class
B Cash Collateral Account, and payable in each case to the Class B Certificateholders or the Class
B Trustee, shall be promptly distributed to the Class B Trustee.

          (c) Downgrade Drawings. Each Liquidity Provider will promptly, but in any event
within ten days of its receipt of notice thereof, deliver notice of any downgrading of its debt
ratings to the Subordination Agent and Delta. If at any time a Downgrade Event occurs with respect
to any Liquidity Provider, within 10 days after such downgrading (but not later than the expiration
date of each Liquidity Facility issued by such Liquidity Provider in respect of which the Downgrade
Event occurs (a “Downgraded Facility”)), such Liquidity Provider or Delta may arrange for a
Replacement Liquidity Provider to issue and deliver a Replacement Liquidity Facility to the
Subordination Agent. If a Downgraded Facility has not been replaced in accordance with the terms
of this paragraph, the Subordination Agent shall, on such 10th day (or if such 10th day is not a
Business Day, on the next succeeding Business Day) (or, if earlier, on the expiration date of such
Downgraded Facility), request a drawing in accordance with and to the extent permitted by such
Downgraded Facility (such drawing, a “Downgrade Drawing”) of all available and undrawn amounts
thereunder. Amounts drawn pursuant to a Downgrade Drawing shall be maintained and invested as
provided in Section 3.05(f). Subject to Section 3.05(e)(iii), the applicable Liquidity Provider
may also arrange for a Replacement Liquidity Provider to issue and deliver a Replacement Liquidity
Facility at any time after such Downgrade Drawing so long as such Downgrade Drawing has not been
reimbursed in full to such Liquidity Provider.

          (d) Non-Extension Drawings. If any Liquidity Facility with respect to any Class of
Certificates is scheduled to expire on a date (the “Stated Expiration Date”) prior to the date that
is 15 days after the Final Legal Distribution Date for such Class of Certificates, then no earlier
than the 60th day and no later than the 40th day prior to the then applicable Stated Expiration
Date, the Subordination Agent shall request in writing that such Liquidity Provider

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extend the Stated Expiration Date to the earlier of (i) the date that is 15 days after the
Final Legal Distribution Date for such Class of Certificates and (ii) the date that is the day
immediately preceding the 364th day after the last day of the Consent Period (unless the
obligations of such Liquidity Provider thereunder are earlier terminated in accordance with such
Liquidity Facility). Whether or not the applicable Liquidity Provider has received a request from
the Subordination Agent, such Liquidity Provider shall by notice (the “Consent Notice”) to the
Subordination Agent, during the period commencing on the date that is 60 days prior to the then
effective Stated Expiration Date (or if earlier, the date of such Liquidity Provider’s receipt of
such request, if any, from the Subordination Agent) and ending on the date that is 25 days prior to
such Stated Expiration Date (the “Consent Period”) advise the Subordination Agent whether, in its
sole discretion, it agrees to so extend the Stated Expiration Date; provided that such
extension shall not be effective with respect to such Liquidity Provider if, by notice (the
“Withdrawal Notice”) to the Subordination Agent prior to the end of the Consent Period, such
Liquidity Provider revokes its Consent Notice. If a Liquidity Provider advises the Subordination
Agent on or before the end of the Consent Period that such Stated Expiration Date shall not be so
extended or fails to irrevocably and unconditionally advise the Subordination Agent on or before
the end of the Consent Period that such Stated Expiration Date shall be so extended or gives a
Withdrawal Notice to the Subordination Agent prior to the end of the Consent Period (and, in each
case, if such Liquidity Provider shall not have been replaced in accordance with Section 3.05(e)),
the Subordination Agent shall, on the date on which the Consent Period ends (or as soon as possible
thereafter but prior to the Stated Expiration Date), in accordance with and to the extent permitted
by the terms of the expiring Liquidity Facility (a “Non-Extended Facility”), request a drawing
under such expiring Liquidity Facility (such drawing, a “Non-Extension Drawing”) of all available
and undrawn amounts thereunder. Amounts drawn pursuant to a Non-Extension Drawing shall be
maintained and invested in accordance with Section 3.05(f). If any amounts shall be drawn pursuant
to a Non-Extension Drawing and, within 30 days thereafter, the applicable Liquidity Provider shall
not have been replaced, then at any time following the 45th day after such Non-Extension Drawing,
such Liquidity Provider may, by written notice to the Subordination Agent, agree to reinstate the
applicable Liquidity Facility on the terms of the existing related Liquidity Facility for a period
ending on the 364th day after the end of the Consent Period; provided, however,
that in such event such Liquidity Provider shall reimburse the Subordination Agent for any costs
actually incurred by or on behalf of the Subordination Agent in drawing pursuant to the
Non-Extension Drawing and funding the Cash Collateral Account or otherwise in connection with the
Non-Extension Drawing.

          (e) Issuance of Replacement Liquidity Facility. (i) Subject to Section 3.05(e)(iii)
and the agreements, if any, in the applicable Fee Letter, at any time, Delta may, at its option and
at its own expense, with cause or without cause, arrange for a Replacement Liquidity Facility to
replace any Liquidity Facility for any Class of Certificates (including any Replacement Liquidity
Facility provided pursuant to Section 3.05(e)(ii)); provided, however, that if the initial
Liquidity Provider is replaced it shall be replaced with respect to all Liquidity Facilities under
which it is a Liquidity Provider. If such Replacement Liquidity Facility is provided at any time
after a Downgrade Drawing, a Non-Extension Drawing or a Special Termination Drawing has been made,
all funds on deposit in the relevant Cash Collateral Account resulting from such Downgrade Drawing
or Non-Extension Drawing will be returned to the Liquidity Provider being replaced.

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          (ii) If any Liquidity Provider shall determine not to extend its Liquidity Facility in
accordance with Section 3.05(d), then such Liquidity Provider may, at its option, arrange for a
Replacement Liquidity Facility to replace such Liquidity Facility during the period no earlier than
40 days and no later than 25 days prior to the then effective Stated Expiration Date of such
Liquidity Facility. At any time after a Non-Extension Drawing has been made under any Liquidity
Facility, the Liquidity Provider thereunder may, at its option, arrange for a Replacement Liquidity
Facility to replace the Liquidity Facility under which such Non-Extension Drawing has been made.

          (iii) No Replacement Liquidity Facility arranged by Delta or a Liquidity Provider in
accordance with clause (i) or (ii) above or pursuant to Section 3.05(c), respectively, shall become
effective and no such Replacement Liquidity Facility shall be deemed a “Liquidity Facility” under
the Operative Agreements, unless and until (A) each of the conditions referred to in sub-clauses
(iv)(x) and (z) below shall have been satisfied, (B) if such Replacement Liquidity Facility shall
materially adversely affect the rights, remedies, interests or obligations of the Class A
Certificateholders or the Class B Certificateholders under any of the Operative Agreements, the
applicable Trustee shall have consented, in writing, to the execution and issuance of such
Replacement Liquidity Facility and (C) in the case of a Replacement Liquidity Facility arranged by
a Liquidity Provider under Section 3.05(e)(ii) or pursuant to Section 3.05(c), such Replacement
Liquidity Facility is reasonably acceptable to Delta.

          (iv) In connection with the issuance of each Replacement Liquidity Facility, the Subordination
Agent shall (x) prior to the issuance of such Replacement Liquidity Facility, obtain written
confirmation from each Rating Agency that such Replacement Liquidity Facility will not cause a
reduction, withdrawal or suspension of any rating then in effect for any Class of Certificates by
such Rating Agency (without regard to any downgrading of any rating of the Liquidity Provider being
replaced pursuant to Section 3.05(c)), (y) pay all Liquidity Obligations then owing to the replaced
Liquidity Provider (which payment shall be made first from available funds in the applicable Cash
Collateral Account as described in Section 3.05(f), and thereafter from any other available source,
including, without limitation, a drawing under the Replacement Liquidity Facility) and (z) cause
the issuer of the Replacement Liquidity Facility to deliver the Replacement Liquidity Facility to
the Subordination Agent, together with a legal opinion opining that such Replacement Liquidity
Facility is an enforceable obligation of such Replacement Liquidity Provider.

          (v) Upon satisfaction of the conditions set forth in clauses (iii) and (iv) of this Section
3.05(e) with respect to a Replacement Liquidity Facility, (1) the replaced Liquidity Facility shall
terminate, (2) the Subordination Agent shall, if and to the extent so requested by Delta or the
Liquidity Provider being replaced, execute and deliver any certificate or other instrument required
in order to terminate the replaced Liquidity Facility, shall surrender the replaced Liquidity
Facility to the Liquidity Provider being replaced and shall execute and deliver the Replacement
Liquidity Facility and any associated Fee Letter, (3) each of the parties hereto shall enter into
any amendments to this Agreement necessary to give effect to (a) the replacement of the applicable
Liquidity Provider with the applicable Replacement Liquidity Provider and (b) the replacement of
the applicable Liquidity Facility with the applicable Replacement Liquidity Facility, and (4) the
applicable Replacement Liquidity Provider shall be deemed to be a Liquidity Provider with the
rights and obligations of a Liquidity Provider

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hereunder and under the other Operative Agreements and such Replacement Liquidity Facility
shall be deemed to be a Liquidity Facility hereunder and under the other Operative Agreements.

          (f) Cash Collateral Accounts; Withdrawals; Investments. In the event the
Subordination Agent shall draw all Available Amounts under the Class A Liquidity Facility or the
Class B Liquidity Facility pursuant to Section 3.05(c), 3.05(d), 3.05(i) or 3.05(k), or in the
event amounts are to be deposited in the Class A Cash Collateral Account or the Class B Cash
Collateral Account pursuant to subclause (A) or (B) of clause “fourth” of Section 3.02, amounts so
drawn or to be deposited, as the case may be, shall be deposited by the Subordination Agent in the
Class A Cash Collateral Account or the Class B Cash Collateral Account, as applicable. All amounts
on deposit in each Cash Collateral Account shall be invested and reinvested in Eligible Investments
in accordance with Section 2.02(b).

          On each Interest Payment Date (or, in the case of any Special Distribution Date with respect
to the distribution of a Special Payment, on such Special Distribution Date), Investment Earnings
on amounts on deposit in each Cash Collateral Account with respect to any Liquidity Facility (or in
the case of any Special Distribution Date with respect to the distribution of a Special Payment, so
long as no Indenture Event of Default shall have occurred and be continuing under any Indenture, a
fraction of such Investment Earnings equal to the Section 2.04 Fraction) shall be deposited in the
Collection Account (or, in the case of any Special Distribution Date with respect to the
distribution of a Special Payment, the Special Payments Account) and applied on such Interest
Payment Date (or Special Distribution Date, as the case may be) in accordance with Section 3.02 or
3.03 (as applicable). The Subordination Agent shall deliver a written statement to Delta and each
Liquidity Provider one day prior to each Interest Payment Date and Special Distribution Date
setting forth the aggregate amount of Investment Earnings held in the Cash Collateral Accounts as
of such date. In addition, from and after the date funds are so deposited, the Subordination Agent
shall make withdrawals from such accounts as follows:

     (i) on each Distribution Date, the Subordination Agent shall, to the extent it shall
not have received funds to pay accrued and unpaid interest due and owing on the Class A
Certificates (at the Stated Interest Rate for the Class A Certificates) (other than any
amount of interest which was due and payable on the Class A Certificates on such
Distribution Date but which remains unpaid due to the failure of the Depositary to pay any
amount of accrued interest on the Deposits on such Distribution Date) after giving effect to
the subordination provisions of this Agreement, withdraw from the Class A Cash Collateral
Account, and pay to the Class A Trustee, an amount equal to the lesser of (x) an amount
necessary to pay accrued and unpaid interest (at the Stated Interest Rate for the Class A
Certificates) on the Class A Certificates and (y) the amount on deposit in the Class A Cash
Collateral Account;

     (ii) on each Distribution Date, the Subordination Agent shall, to the extent it shall
not have received funds to pay accrued and unpaid interest due and owing on the Class B
Certificates (at the Stated Interest Rate for the Class B Certificates) after giving effect
to the subordination provisions of this Agreement, withdraw from the Class B Cash Collateral
Account, and pay to the Class B Trustee, an amount equal to the lesser of (x) an amount
necessary to pay accrued and unpaid interest (at the Stated Interest Rate for

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     the Class B Certificates) on such Class B Certificates and (y) the amount on deposit in
the Class B Cash Collateral Account;

     (iii) on each date on which the Pool Balance of the Class A Trust shall have been
reduced by payments made to the Class A Certificateholders pursuant to Section 3.02 hereof
or pursuant to Section 2.03 of the Escrow and Paying Agent Agreement, the Subordination
Agent shall withdraw from the Class A Cash Collateral Account such amount as is necessary so
that, after giving effect to the reduction of the Pool Balance on such date (and any
reduction in the amounts on deposit in the Class A Cash Collateral Account resulting from a
prior withdrawal of amounts on deposit in the Class A Cash Collateral Account on such date)
and any transfer of Investment Earnings from such Cash Collateral Account to the Collection
Account or the Special Payments Account on such date, an amount equal to the sum of the
Required Amount (with respect to the Class A Liquidity Facility) plus (if on a Distribution
Date not coinciding with an Interest Payment Date) Investment Earnings on deposit in such
Cash Collateral Account (after giving effect to any such transfer of Investment Earnings)
will remain on deposit in the Class A Cash Collateral Account and shall first, pay such
withdrawn amount to the Class A Liquidity Provider until the Class A Liquidity Obligations
owing to the Class A Liquidity Provider shall have been paid in full, and second, deposit
any remaining withdrawn amount in the Collection Account;

     (iv) on each date on which the Pool Balance of the Class B Trust shall have been
reduced by payments made to the Class B Certificateholders pursuant to Section 3.02 hereof,
the Subordination Agent shall withdraw from the Class B Cash Collateral Account such amount
as is necessary so that, after giving effect to the reduction of the Pool Balance on such
date (and any reduction in the amounts on deposit in the Class B Cash Collateral Account
resulting from a prior withdrawal of amounts on deposit in the Class B Cash Collateral
Account on such date) and any transfer of Investment Earnings from such Cash Collateral
Account to the Collection Account or the Special Payments Account on such date, an amount
equal to the sum of the Required Amount (with respect to the Class B Liquidity Facility)
plus (if on a Distribution Date not coinciding with an Interest Payment Date) Investment
Earnings on deposit in such Cash Collateral Account (after giving effect to any such
transfer of Investment Earnings) will remain on deposit in the Class B Cash Collateral
Account and shall first, pay such withdrawn amount to the Class B Liquidity Provider until
the Class B Liquidity Obligations owing to such Liquidity Provider shall have been paid in
full, and second, deposit any remaining withdrawn amount in the Collection Account;

     (v) if a Replacement Liquidity Facility for any relevant Class of Certificates shall be
delivered to the Subordination Agent following the date on which funds have been deposited
into the Cash Collateral Account for such Class of Certificates, the Subordination Agent
shall withdraw all amounts remaining on deposit in such Cash Collateral Account and shall
pay such amounts to the replaced Liquidity Provider, if any, until all Liquidity Obligations
owed to such Person shall have been paid in full, and deposit any remaining amount in the
Collection Account; and

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     (vi) following the (x) payment of Final Distributions or (y) the Final Legal
Distribution Date with respect to any Class of Certificates covered by a Liquidity Facility,
on the date on which the Subordination Agent shall have been notified by the Liquidity
Provider for such Class of Certificates that the Liquidity Obligations owed to such
Liquidity Provider have been paid in full, or, if earlier, the first Business Day after such
Final Legal Distribution Date, the Subordination Agent shall withdraw all amounts on deposit
in the Cash Collateral Account in respect of such Class of Certificates, if any, and shall
deposit such amounts in the Collection Account.

          (g) Reinstatement. With respect to any Interest Drawing under the Liquidity Facility
for any relevant Trust, upon the reimbursement of the applicable Liquidity Provider for all or any
part of the amount of such Interest Drawing, together with any accrued interest thereon, the
Available Amount of such Liquidity Facility shall be reinstated by an amount equal to the amount of
such Interest Drawing so reimbursed to the applicable Liquidity Provider but not to exceed the
Stated Amount for such Liquidity Facility; provided, however, that the Available Amount of such
Liquidity Facility shall not be so reinstated in part or in full at any time if (x) both a
Performing Note Deficiency exists and a Liquidity Event of Default shall have occurred and be
continuing with respect to the relevant Liquidity Facility or (y) a Final Drawing, Downgrade
Drawing, Non-Extension Drawing or Special Termination Drawing shall have occurred with respect to
such Liquidity Facility or an Interest Drawing shall have been converted into a Final Drawing. In
the event that, with respect to any particular Liquidity Facility, (i) funds are withdrawn from the
related Cash Collateral Account pursuant to clause (i) or (ii) of Section 3.05(f) or (ii) such
Liquidity Facility shall become a Downgraded Facility or a Non-Extended Facility at a time when
unreimbursed Interest Drawings under such Liquidity Facility have reduced the Available Amount
thereunder to zero, then funds received by the Subordination Agent at any time, other than (x) any
time when both a Performing Note Deficiency exists and a Liquidity Event of Default shall have
occurred and be continuing with respect to such Liquidity Facility or (y) any time after a Final
Drawing shall have occurred with respect to such Liquidity Facility shall be deposited in such Cash
Collateral Account as and to the extent provided in clause “fourth” of Section 3.02 and applied in
accordance with Section 3.05(f).

          (h) Reimbursement. The amount of each drawing under the Liquidity Facilities shall be
due and payable, together with interest thereon, on the dates and at the rates, respectively,
provided in the Liquidity Facilities.

          (i) Final Drawing. Upon receipt from a Liquidity Provider of a Termination Notice
with respect to its applicable Liquidity Facility, the Subordination Agent shall, not later than
the date specified in such Termination Notice, in accordance with the terms of such Liquidity
Facility, request a drawing under such Liquidity Facility of all available and undrawn amounts
thereunder (a “Final Drawing”). Amounts drawn pursuant to a Final Drawing shall be maintained and
invested in accordance with Section 3.05(f).

          (j) Adjustments of Stated Amount. Promptly following each date on which the Required
Amount of the Liquidity Facility for a relevant Class of Certificates is reduced as a result of a
reduction in the Pool Balance with respect to such Certificates or otherwise, the Subordination
Agent shall, if any such Liquidity Facility provides for reductions of the Stated Amount of such
Liquidity Facility and if such reductions are not automatic, request such

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Liquidity Provider for such Class of Certificates to reduce such Stated Amount to an amount
equal to the Required Amount with respect to such Liquidity Facility (as calculated by the
Subordination Agent after giving effect to such payment). Each such request shall be made in
accordance with the provisions of the applicable Liquidity Facility.

          (k) Special Termination Drawing. Upon receipt from a Liquidity Provider of a Special
Termination Notice with respect to any Liquidity Facility, the Subordination Agent shall, not later
than the date specified in such Special Termination Notice, in accordance with the terms of such
Liquidity Facility, request a drawing under such Liquidity Facility of all available and undrawn
amounts thereunder (a “Special Termination Drawing”). Amounts drawn pursuant to a Special
Termination Drawing shall be maintained and invested in accordance with Section 3.05(f) hereof.

          (l) Relation to Subordination Provisions. Interest Drawings under the Liquidity
Facilities and withdrawals from the Cash Collateral Accounts, in each case, in respect of interest
on the Certificates of any Class, will be distributed to the Trustee for such Class of
Certificates, notwithstanding Sections 2.01(b) and 3.02.

          (m) Assignment of Liquidity Facility. The Subordination Agent agrees not to consent
to the assignment by any Liquidity Provider of any of its rights or obligations under any Liquidity
Facility or any interest therein unless (i) Delta shall have consented to such assignment and (ii)
each Rating Agency shall have provided a Ratings Confirmation with respect to each Class of
Certificates then rated by such Rating Agency in connection with such assignment; provided, that
the Subordination Agent shall consent to such assignment if the conditions in the foregoing clauses
(i) and (ii) are satisfied, and the foregoing is not intended to and shall not be construed to
limit the rights of any initial Liquidity Provider under Section 3.05(e)(ii).

ARTICLE IV

EXERCISE OF REMEDIES

          Section 4.01. Directions from the Controlling Party. (a) (i) Following the
occurrence and during the continuation of an Indenture Event of Default under any Indenture, the
Controlling Party shall direct the Subordination Agent, as the holder of the Equipment Notes issued
under such Indenture, which in turn shall direct the Loan Trustee under such Indenture, in the
exercise of remedies available to the holders of such Equipment Notes, including, without
limitation, the ability to vote all such Equipment Notes held by the Subordination Agent in favor
of Accelerating such Equipment Notes in accordance with the provisions of such Indenture. Subject
to Section 4.01(a)(iii), if the Equipment Notes issued pursuant to any Indenture have been
Accelerated following an Indenture Event of Default with respect thereto, the Controlling Party may
direct the Subordination Agent to sell, assign, contract to sell or otherwise dispose of and
deliver all (but not less than all) of such Equipment Notes to any Person at public or private
sale, at any location at the option of the Controlling Party, all upon such terms and conditions as
the Controlling Party may reasonably deem advisable and in accordance with applicable law.

          (ii) Following the occurrence and during the continuation of an Indenture Event of Default
under any Indenture, in the exercise of remedies pursuant to such Indenture, the

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Loan Trustee under such Indenture may be directed to lease the related Aircraft to any Person
(including Delta) so long as the Loan Trustee in doing so acts in a “commercially reasonable”
manner within the meaning of Article 9 of the Uniform Commercial Code as in effect in any
applicable jurisdiction (including Sections 9-610 and 9-627 thereof).

          (iii) Notwithstanding the foregoing, so long as any Certificates remain Outstanding, during
the period ending on the date which is nine months after the earlier of (x) the Acceleration of the
Equipment Notes issued pursuant to any Indenture or (y) the occurrence of a Delta Bankruptcy Event,
without the consent of each Trustee (other than the Trustee of any Trust all of the Certificates of
which are held or beneficially owned by Delta and/or its Affiliates), no Aircraft subject to the
Lien of such Indenture or such Equipment Notes may be sold if the net proceeds from such sale would
be less than the Minimum Sale Price for such Aircraft or such Equipment Notes.

          (iv) Upon the occurrence and continuation of an Indenture Event of Default under any
Indenture, the Subordination Agent will obtain three desktop appraisals from the Appraisers
selected by the Controlling Party setting forth the current market value, current lease rate and
distressed value (in each case, as defined by the International Society of Transport Aircraft
Trading or any successor organization) of the Aircraft subject to such Indenture (each such
appraisal, an “Appraisal” and the current market value appraisals being referred to herein as the
“Post-Default Appraisals”). For so long as any Indenture Event of Default shall be continuing
under any Indenture, and without limiting the right of the Controlling Party to request more
frequent Appraisals, the Subordination Agent will obtain updated Appraisals on the date that is 364
days from the date of the most recent Appraisal (or if a Delta Bankruptcy Event shall have occurred
and is continuing, on the date that is 180 days from the date of the most recent Appraisal) and
shall (acting on behalf of each Trustee) post such Appraisals on DTC’s Internet bulletin board or
make such other commercially reasonable efforts as the Subordination Agent may deem appropriate to
make such Appraisals available to all Certificateholders.

          (b) Following the occurrence and during the continuance of an Indenture Event of Default under
any Indenture, the Controlling Party shall take such actions as it may reasonably deem most
effectual to complete the sale or other disposition of the relevant Aircraft or Equipment Notes.
In addition, in lieu of any sale, assignment, contract to sell or other disposition, the
Controlling Party may maintain or cause the Subordination Agent to maintain possession of such
Equipment Notes and continue to apply monies received in respect of such Equipment Notes in
accordance with Article III hereof. In addition, in lieu of such sale, assignment, contract to
sell or other disposition, or in lieu of such maintenance of possession, the Controlling Party may
direct the Subordination Agent to, subject to the terms and conditions of the related Indenture,
instruct the Loan Trustee under such Indenture to foreclose on the Lien on the related Aircraft or
to take any other remedial action permitted under such Indenture or under any applicable law.

          (c) If following a Delta Bankruptcy Event and during the pendency thereof, the Controlling
Party receives a proposal from or on behalf of Delta to restructure the financing of any one or
more of the Aircraft, the Controlling Party shall promptly thereafter give the Subordination Agent,
each Trustee and each Liquidity Provider that has not made a Final Drawing notice of the material
economic terms and conditions of such restructuring proposal

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whereupon the Subordination Agent acting on behalf of each Trustee shall post such terms and
conditions of such restructuring proposal on DTC’s Internet bulletin board or make such other
commercially reasonable efforts as the Subordination Agent may deem appropriate to make such terms
and conditions available to all Certificateholders. Thereafter, neither the Subordination Agent
nor any Trustee, whether acting on instructions of the Controlling Party or otherwise, may, without
the consent of each Trustee and each Liquidity Provider that has not made a Final Drawing, enter
into any term sheet, stipulation or other agreement (a “Restructuring Arrangement”) (whether in the
form of an adequate protection stipulation, an extension under Section 1110(b) of the Bankruptcy
Code or otherwise) to effect any such restructuring proposal with or on behalf of Delta unless and
until the material economic terms and conditions of such restructuring proposal shall have been
made available to all Certificateholders and each Liquidity Provider that has not made a Final
Drawing for a period of not less than 15 calendar days (except that such requirement shall not
apply to any such term sheet, stipulation or other agreement that is to be effective on or as of
any date occurring during the 60-Day Period and that is initially effective for a period not
exceeding three months from the expiry of the 60-Day Period (an “Interim Restructuring
Arrangement”)). The foregoing provisions of this Section 4.01(c): (i) shall not apply to any
extension of a Restructuring Arrangement with respect to which such provisions have been complied
with in connection with the original entry thereof if the possibility of such extension has been
disclosed in satisfaction of the notification requirements of such provisions and such extension
shall not amend or modify any of the other terms and conditions of such Restructuring Arrangement
and (ii) shall apply to the initial extension of an Interim Restructuring Arrangement beyond the
three months following the expiry of the 60-Day Period but not to any subsequent extension of such
Interim Restructuring Arrangement, if the possibility of such subsequent extension has been
disclosed in satisfaction of the notification requirements of such provisions and such subsequent
extension shall not amend or modify any of the other terms and conditions of such Interim
Restructuring Arrangement. In the event that any Certificateholder gives irrevocable notice of the
exercise of its right to purchase all (but not less than all) of the Class of Certificates
represented by the then Controlling Party pursuant to the applicable Trust Agreement, prior to the
expiry of the 15-day notice period specified above, such Controlling Party may not direct the
Subordination Agent or any Trustee to enter into any such restructuring proposal with respect to
any of the Aircraft, unless and until such Certificateholder shall fail to purchase such Class of
Certificates on the date that it is required to make such purchase.

          Section 4.02. Remedies Cumulative. To the extent permitted by applicable law, each
and every right, power and remedy given to the Trustees, the Liquidity Providers, the Controlling
Party or the Subordination Agent specifically or otherwise in this Agreement shall be cumulative
and shall be in addition to every other right, power and remedy herein specifically given or now or
hereafter existing at law, in equity or by statute, and each and every right, power and remedy
whether specifically herein given or otherwise existing may, subject always to the terms and
conditions hereof, be exercised from time to time and as often and in such order as may be deemed
expedient by any Trustee, any Liquidity Provider, the Controlling Party or the Subordination Agent,
as appropriate, and the exercise or the beginning of the exercise of any right, power or remedy
shall not be construed to be a waiver of the right to exercise at the same time or thereafter any
other right, power or remedy. No delay or omission by any Trustee, any Liquidity Provider, the
Controlling Party or the Subordination Agent in the exercise of any right, remedy or power or in
the pursuit of any remedy shall, to the extent permitted by applicable law,

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impair any such right, power or remedy or be construed to be a waiver of any default or to be
an acquiescence therein.

          Section 4.03. Discontinuance of Proceedings. In case any party to this Agreement
(including the Controlling Party in such capacity) shall have instituted any Proceeding to enforce
any right, power or remedy under this Agreement by foreclosure, entry or otherwise, and such
Proceeding shall have been discontinued or abandoned for any reason or shall have been determined
adversely to the Person instituting such Proceeding, then and in every such case each such party
shall, subject to any determination in such Proceeding, be restored to its former position and
rights hereunder, and all rights, remedies and powers of such party shall continue as if no such
Proceeding had been instituted.

          Section 4.04. Right of Certificateholders and the Liquidity Providers to Receive Payments
Not to Be Impaired. Anything in this Agreement to the contrary notwithstanding but subject to
each Trust Agreement, the right of any Certificateholder or any Liquidity Provider, respectively,
to receive payments hereunder (including, without limitation, pursuant to Section 3.02) when due,
or to institute suit for the enforcement of any such payment on or after the applicable
Distribution Date, shall not be impaired or affected without the consent of such Certificateholder
or such Liquidity Provider, respectively.

ARTICLE V

DUTIES OF THE SUBORDINATION AGENT;

AGREEMENTS OF TRUSTEES, ETC.

          Section 5.01. Notice of Indenture Event of Default or Triggering Event. (a) If the
Subordination Agent shall have knowledge of an Indenture Event of Default or a Triggering Event,
the Subordination Agent shall promptly give notice thereof to the Rating Agencies, Delta, the
Liquidity Providers and the Trustees by telegram, cable, facsimile or telephone (to be promptly
confirmed in writing), unless such Indenture Event of Default or Triggering Event shall have been
cured or waived. For all purposes of this Agreement, in the absence of actual knowledge, the
Subordination Agent shall not be deemed to have knowledge of any Indenture Event of Default or
Triggering Event unless notified in writing by Delta, one or more Trustees, one or more Liquidity
Providers or one or more Certificateholders; and “actual knowledge” (as used in the foregoing
clause) of the Subordination Agent shall mean actual knowledge of an officer in the Corporate Trust
Office of the Subordination Agent.

          (b) Other Notices. The Subordination Agent will furnish to each Liquidity Provider
and each Trustee, promptly upon receipt thereof, duplicates or copies of all reports, notices,
requests, demands, certificates, financial statements and other instruments furnished to the
Subordination Agent as registered holder of the Equipment Notes or otherwise in its capacity as
Subordination Agent to the extent the same shall not have been otherwise directly distributed to
such Liquidity Provider or such Trustee, as applicable, pursuant to any other Operative Agreement.

          (c) Securities Position. Upon the occurrence of an Indenture Event of Default, the
Subordination Agent shall instruct the Trustees to, and the Trustees shall, request

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that DTC post on its Internet bulletin board a securities position listing setting forth the
names of all the parties reflected on DTC’s books as holding interests in the Certificates.

          (d) Reports. Promptly after the occurrence of a Triggering Event or an Indenture
Event of Default resulting from the failure of Delta to make payments on any Equipment Note and on
every Regular Distribution Date while the Triggering Event or such Indenture Event of Default shall
be continuing, the Subordination Agent will provide to the Trustees, the Liquidity Providers, the
Rating Agencies and Delta a statement setting forth the following information:

               (i) after a Delta Bankruptcy Event, with respect to each Aircraft, whether such Aircraft is
(A) subject to the 60-Day Period, (B) subject to an election by Delta under Section 1110(a) of the
Bankruptcy Code, (C) covered by an agreement contemplated by Section 1110(b) of the Bankruptcy Code
or (D) not subject to any of (A), (B) or (C);

               (ii) to the best of the Subordination Agent’s knowledge, after requesting such information
from Delta, (A) whether the Aircraft are currently in service or parked in storage, (B) the
maintenance status of the Aircraft and (C) the location of the Engines (as defined in the
Indentures);

               (iii) the current Pool Balance of each Class of Certificates, the Eligible B Pool Balance and
the outstanding principal amount of all Equipment Notes;

               (iv) the expected amount of interest which will have accrued on the Equipment Notes and on the
Certificates as of the next Regular Distribution Date;

               (v) the amounts paid to each Person on such Distribution Date pursuant to this Agreement;

               (vi) details of the amounts paid on such Distribution Date identified by reference to the
relevant provision of this Agreement and the source of payment (by Aircraft and party);

               (vii) if the Subordination Agent has made a Final Drawing or a Special Termination Drawing
under any Liquidity Facility;

               (viii) the amounts currently owed to each Liquidity Provider;

               (ix) the amounts drawn under each Liquidity Facility; and

               (x) after a Delta Bankruptcy Event, any operational reports filed by Delta with the bankruptcy
court which are available to the Subordination Agent on a non-confidential basis.

          Section 5.02. Indemnification. The Subordination Agent shall not be required to take
any action or refrain from taking any action under Article IV unless the Subordination Agent shall
have received indemnification against any risks that may be incurred in connection therewith in
form and substance reasonably satisfactory to it, including, without limitation,

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adequate advances against costs (including fees and expenses) that may be incurred by it in
connection therewith. The Subordination Agent shall not be required to take any action under
Article IV, nor shall any other provision of this Agreement or any other Operative Agreement be
deemed to impose a duty on the Subordination Agent to take any action, if the Subordination Agent
shall have been advised by outside counsel that such action is contrary to the terms hereof or is
otherwise contrary to law. Under no circumstances shall the Subordination Agent be required to
expend or risk its own funds or otherwise incur any financial liability in performing its duties or
exercising its rights or powers hereunder if it shall have reasonable grounds for believing that
repayment of such funds is not assured to it.

          Section 5.03. No Duties Except as Specified in Intercreditor Agreement. The
Subordination Agent shall not have any duty or obligation to take or refrain from taking any action
under, or in connection with, this Agreement, except as expressly provided by the terms of this
Agreement; and no implied duties or obligations shall be read into this Agreement against the
Subordination Agent. The Subordination Agent agrees that it will, in its individual capacity and
at its own cost and expense (but without any right of indemnity in respect of any such cost or
expense) promptly take such action as may be necessary duly to discharge all Liens on any of the
Trust Accounts or any monies deposited therein that are attributable to the Subordination Agent in
its individual capacity and that are unrelated to the transaction contemplated hereby and by the
other Operative Agreements.

          Section 5.04. Notice from the Liquidity Providers and Trustees. If any Liquidity
Provider or Trustee has notice of an Indenture Event of Default or a Triggering Event, such Person
shall promptly give notice thereof to all other Liquidity Providers and Trustees and to the
Subordination Agent; provided, however, that no such Person shall have any liability hereunder as a
result of its failure to deliver any such notice.

ARTICLE VI

THE SUBORDINATION AGENT

          Section 6.01. Authorization; Acceptance of Trusts and Duties. Each of the Class A
Trustee and, upon the accession hereto, the Class B Trustee hereby designates and appoints the
Subordination Agent as the agent and trustee of such Trustee under the applicable Liquidity
Facility (if any) and authorizes the Subordination Agent to enter into the applicable Liquidity
Facility as agent and trustee for such Trustee. Each of the Liquidity Providers and the Trustees
hereby designates and appoints the Subordination Agent as the Subordination Agent under this
Agreement. U.S. Bank accepts the trusts and duties hereby created and applicable to it and agrees
to perform such duties, but only upon the terms of this Agreement and agrees to receive, handle and
disburse all monies received by it in accordance with the terms hereof. The Subordination Agent
shall have no liability hereunder except (a) for its own willful misconduct or negligence, (b) as
provided in Section 2.02 and the last sentence of Section 5.03, (c) for liabilities that may result
from the inaccuracy of any representation or warranty of the Subordination Agent made in its
individual capacity in any Operative Agreement and (d) as otherwise expressly provided herein or in
the other Operative Agreements.

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          Section 6.02. Absence of Duties. The Subordination Agent shall have no duty to see to
any recording or filing of this Agreement or any other document, or to see to the maintenance of
any such recording or filing.

          Section 6.03. No Representations or Warranties as to Documents. The Subordination
Agent shall not be deemed to have made any representation or warranty as to the validity, legality
or enforceability of this Agreement or any other Operative Agreement or as to the correctness of
any statement contained herein or therein (other than the representations and warranties of the
Subordination Agent made in its individual capacity under any Operative Agreement), except that the
Subordination Agent hereby represents and warrants that each of said specified documents to which
it is a party has been or will be duly executed and delivered by one of its officers who is and
will be duly authorized to execute and deliver such document on its behalf. The
Certificateholders, the Trustees and the Liquidity Providers make no representation or warranty
hereunder whatsoever.

          Section 6.04. No Segregation of Monies; No Interest. Any monies paid to or retained
by the Subordination Agent pursuant to any provision hereof and not then required to be distributed
to any Trustee or any Liquidity Provider as provided in Articles II and III or deposited into one
or more Trust Accounts need not be segregated in any manner except to the extent required by such
Articles II and III and by law, and the Subordination Agent shall not (except as otherwise provided
in Section 2.02) be liable for any interest thereon; provided, however, that any payments received
or applied hereunder by the Subordination Agent shall be accounted for by the Subordination Agent
so that any portion thereof paid or applied pursuant hereto shall be identifiable as to the source
thereof.

          Section 6.05. Reliance; Agents; Advice of Counsel. The Subordination Agent shall not
incur any liability to anyone in acting upon any signature, instrument, notice, resolution,
request, consent, order, certificate, report, opinion, bond or other document or paper believed by
it to be genuine and believed by it to be signed by the proper party or parties. As to the Pool
Balance of any Trust as of any date, the Subordination Agent may for all purposes hereof rely on a
certificate signed by any Responsible Officer of the applicable Trustee, and such certificate shall
constitute full protection to the Subordination Agent for any action taken or omitted to be taken
by it in good faith in reliance thereon. As to any fact or matter relating to the Liquidity
Providers or the Trustees the manner of ascertainment of which is not specifically described
herein, the Subordination Agent may for all purposes hereof rely on a certificate, signed by any
Responsible Officer of the applicable Liquidity Provider or Trustee, as the case may be, as to such
fact or matter, and such certificate shall constitute full protection to the Subordination Agent
for any action taken or omitted to be taken by it in good faith in reliance thereon. In the
administration of the trusts hereunder, the Subordination Agent may (a) execute any of the trusts
or powers hereof and perform its powers and duties hereunder directly or through agents or
attorneys and (b) consult with counsel, accountants and other skilled Persons to be selected and
retained by it. The Subordination Agent shall not be liable for anything done, suffered or omitted
in good faith by it in accordance with the advice or opinion of any such counsel, accountants or
other skilled Persons acting within such counsel’s, accountants’ or Person’s area of competence (so
long as the Subordination Agent shall have exercised reasonable care and judgment in selecting such
Persons).

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          Section 6.06. Capacity in Which Acting. The Subordination Agent acts hereunder solely
as agent or trustee herein and not in its individual capacity, except as otherwise expressly
provided herein and in the Operative Agreements.

          Section 6.07. Compensation. The Subordination Agent shall be entitled to such
compensation, including reasonable expenses and disbursements, for all services rendered hereunder
as Delta and the Subordination Agent may agree from time to time in writing and shall have a
priority claim to the extent set forth in Article III on all monies collected hereunder for the
payment of such compensation, to the extent that such compensation shall not be paid by others.
The Subordination Agent agrees that it shall have no right against any Trustee or any Liquidity
Provider for any fee as compensation for its services as agent under this Agreement. The
provisions of this Section 6.07 shall survive the termination of this Agreement.

          Section 6.08. May Become Certificateholder. The institution acting as Subordination
Agent hereunder may become a Certificateholder and have all rights and benefits of a
Certificateholder to the same extent as if it were not the institution acting as the Subordination
Agent.

          Section 6.09. Subordination Agent Required; Eligibility. There shall at all times be
a Subordination Agent hereunder that is a Citizen of the United States, a bank, trust company or
other financial institution organized and doing business under the laws of the United States or any
state thereof and eligible to act as a trustee under Section 310(a) of the Trust Indenture Act of
1939, as amended, and that has a combined capital and surplus of at least $75,000,000 (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 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 $75,000,000). If such bank, trust
company or other financial institution or such corporation publishes reports of condition 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 6.09 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 condition so published.

          In case at any time the Subordination Agent shall cease to be eligible in accordance with the
provisions of this Section 6.09, the Subordination Agent shall resign immediately in the manner and
with the effect specified in Section 7.01.

          Section 6.10. Money to Be Held in Trust. All Equipment Notes, monies and other
property deposited with or held by the Subordination Agent pursuant to this Agreement shall be held
in trust for the benefit of the parties entitled to such Equipment Notes, monies and other property
and the Subordination Agent, in its individual capacity, hereby waives all rights of set-off and
counterclaim with respect to all such property.

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ARTICLE VII

SUCCESSOR SUBORDINATION AGENT

          Section 7.01.
Replacement of Subordination Agent; Appointment of Successor. (a) The
Subordination Agent or any successor thereto must resign if at any time it fails to comply with
Section 6.09 and may resign at any time without cause by giving 60 days’ prior written notice to
Delta, the Trustees and the Liquidity Providers. The Controlling Party or Delta (only so long as
no Indenture Event of Default has occurred or is continuing) may remove the Subordination Agent for
cause by so notifying the Subordination Agent and may appoint a successor Subordination Agent. The
Controlling Party (or the party that would be the Controlling Party if an Indenture Event of
Default had occurred) shall remove the Subordination Agent if:

     (1) the Subordination Agent fails to comply with Section 6.09;

     (2) the Subordination Agent is adjudged bankrupt or insolvent or files a bankruptcy
petition;

     (3) a receiver of the Subordination Agent shall be appointed or any public officer
shall take charge or control of the Subordination Agent or its property or affairs for the
purpose of rehabilitation, conservation or liquidation; or

     (4) the Subordination Agent otherwise becomes incapable of acting.

          If the Subordination Agent resigns or is removed or if a vacancy exists in the office of
Subordination Agent for any reason (the Subordination Agent in such event being referred to herein
as the retiring Subordination Agent), the Controlling Party (or the party that would be the
Controlling Party if an Indenture Event of Default had occurred) shall promptly appoint a successor
Subordination Agent. If a successor Subordination Agent shall not have been appointed within 60
days after such notice of resignation or removal, the retiring Subordination Agent, one or more of
the Trustees or one or more of the Liquidity Providers may petition any court of competent
jurisdiction for the appointment of a successor Subordination Agent to act until such time, if any,
as a successor shall have been appointed as provided above.

          A successor Subordination Agent shall deliver (x) a written acceptance of its appointment as
Subordination Agent hereunder to the retiring Subordination Agent and (y) a written assumption of
its obligations hereunder and under each Liquidity Facility to each party hereto, upon which the
resignation or removal of the retiring Subordination Agent shall become effective, and the
successor Subordination Agent shall have all the rights, powers and duties of the Subordination
Agent under this Agreement. The successor Subordination Agent shall mail a notice of its
succession to Delta, the Liquidity Providers and the Trustees. The retiring Subordination Agent
shall promptly transfer its rights under each of the Liquidity Facilities and all of the property
and all books and records, or true, complete and correct copies thereof, held by it as
Subordination Agent to the successor Subordination Agent.

          If the Subordination Agent fails to comply with Section 6.09 (to the extent applicable), one
or more of the Trustees or one or more of the Liquidity Providers may petition a

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court of competent jurisdiction for the removal of the Subordination Agent and the appointment
of a successor Subordination Agent.

          Notwithstanding the foregoing, no resignation or removal of the Subordination Agent shall be
effective unless and until a successor has been appointed. No appointment of a successor
Subordination Agent shall be effective unless and until the Rating Agencies shall have delivered a
Ratings Confirmation with respect to each Class of Certificates then rated by the Rating Agencies.

          (b) Any corporation, bank, trust company or other financial institution into which the
Subordination Agent may be merged or converted or with which it may be consolidated, or any
corporation, bank, trust company or other financial institution resulting from any merger,
conversion or consolidation to which the Subordination Agent shall be a party, or any corporation,
bank, trust company or other financial institution succeeding to all or substantially all of the
corporate trust business of the Subordination Agent, shall be the successor of the Subordination
Agent hereunder, provided that such corporation, bank, trust company or other financial institution
shall be otherwise qualified and eligible under Section 6.09, without the execution or filing of
any paper or any further act on the part of any of the parties hereto, except that such
corporation, bank, trust company or other financial institution shall give prompt notice of such
transaction to the Liquidity Providers and Delta.

ARTICLE VIII

SUPPLEMENTS AND AMENDMENTS

          Section 8.01. Amendments, Waivers, Etc. (a) This Agreement may not be supplemented,
amended or modified without the consent of each Trustee (acting, except in the case of any
amendment pursuant to Section 3.05(e)(v) or any amendment contemplated by the last sentence of this
Section 8.01(a), with the consent of holders of Outstanding Certificates of the related Class
evidencing Fractional Undivided Interests in the related Trust aggregating not less than a majority
in interest in such Trust or as otherwise authorized pursuant to the relevant Trust Agreement
(including, without limitation, without the consent of the Certificateholders to the extent
permitted thereby, Section 9.01 thereof)), the Subordination Agent and each Liquidity Provider;
provided, however, that this Agreement may be supplemented, amended or modified without the consent
of any Trustee or the Subordination Agent in order (i) to cure any ambiguity or omission or to
correct any mistake, (ii) to correct or supplement any provision, or (iii) to make any other
provision in regard to matters or questions arising hereunder that will not materially adversely
affect the interests of any Trustee or the holders of the related Class of Certificates, and
without the consent of any Liquidity Provider if such supplement, amendment or modification is in
accordance with Section 8.01(c) or 8.01(d); provided further, however, that, if such supplement,
amendment or modification (x) would directly or indirectly amend, modify or supersede, or otherwise
conflict with, Section 2.02(b), 3.05(c), 3.05(e), 3.05(f), 3.05(m), 4.01(a)(ii) or 4.01(c), this
proviso of Section 8.01(a), the last sentence of Section 8.01(a), Section 8.01(c), 8.01(d) or 9.06
(collectively, the “Delta Provisions”), (y) would otherwise affect the interests of any potential
Replacement Liquidity Provider or replacement Depositary or of Delta with respect to Delta’s
ability to replace any Liquidity Facility or the Depositary or with respect to Delta’s payment
obligations under any Operative Agreement or (z) is made pursuant to

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the last sentence of this Section 8.01(a) or pursuant to Section 8.01(c) or pursuant to Section
8.01(d), then such supplement, amendment or modification shall not be effective without the
additional written consent of Delta. Notwithstanding the foregoing, without the consent of each
Certificateholder affected thereby and each Liquidity Provider, no supplement, amendment or
modification of this Agreement may (i) reduce the percentage of the interest in any Trust evidenced
by the Certificates issued by such Trust necessary to consent to modify or amend any provision of
this Agreement or to waive compliance therewith or (ii), except as provided in the last sentence of
this Section 8.01(a) or Section 8.01(c) or Section 8.01(d), modify Section 2.04, 3.02 or 3.03
hereof relating to the distribution of monies received by the Subordination Agent hereunder from
the Equipment Notes or pursuant to the Liquidity Facilities. Nothing contained in this Section
8.01(a) shall require the consent of a Trustee at any time following the payment of Final
Distributions with respect to the related Class of Certificates. If the Replacement Liquidity
Facility for any Liquidity Facility is to be comprised of more than one instrument as contemplated
by the definition of the term “Replacement Liquidity Facility”, then each party hereto agrees to
amend this Agreement and the other Operative Agreements to incorporate appropriate mechanics for
multiple Liquidity Facilities for a single Trust.

          (b) In the event that the Subordination Agent, as the registered holder of any Equipment
Notes, receives a request for its consent to any amendment, supplement, modification, approval,
consent or waiver under such Equipment Notes, the Indenture pursuant to which such Equipment Notes
were issued or the related Participation Agreement or other related document, (i) if no Indenture
Event of Default shall have occurred and be continuing with respect to such Indenture, the
Subordination Agent shall request directions with respect to each series of such Equipment Notes
from the Trustee of the Trust which holds such Equipment Notes and shall vote or consent in
accordance with the directions of such Trustee and (ii) if any Indenture Event of Default shall
have occurred and be continuing with respect to such Indenture, the Subordination Agent will
exercise its voting rights as directed by the Controlling Party, subject to Sections 4.01 and 4.04.
Notwithstanding the foregoing, without the consent of each Liquidity Provider and each
Certificateholder holding Certificates representing a Fractional Undivided Interest in the
Equipment Notes under the applicable Indenture held by the Subordination Agent, no such amendment,
supplement, modification, approval, consent or waiver shall (i) reduce the principal amount of,
Premium, if any, or interest on, any Equipment Note under such Indenture; (ii) change the date on
which any principal amount of, Premium, if any, or interest on any Equipment Note under such
Indenture, is due or payable; (iii) create any Lien with respect to the Collateral subject to such
Indenture prior to or pari passu with the Lien thereon under such Indenture except such as are
permitted by such Indenture; provided that, without the consent of each Certificateholder,
no such amendment, supplement, modification, approval, consent or waiver shall modify Section 3.03
or Section 9.02(a)(3) of such Indenture or deprive any Certificateholder of the benefit of the Lien
of such Indenture on such Collateral, except as provided in connection with the exercise of
remedies under Article IV of such Indenture; (iv) reduce the percentage of the outstanding
principal amount of the Equipment Notes under such Indenture the consent of whose holders is
required for any supplemental agreement, or the consent of whose holders is required for any waiver
of compliance with certain provisions of such Indenture or of certain defaults thereunder or their
consequences provided for in such Indenture; or (v) make any change in Section 4.05 or Section 9.02
of such Indenture, except to provide that certain other provisions of such Indenture cannot be
modified or waived without the consent of each holder of an Equipment Note under such Indenture
affected thereby.

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          (c) If Series B Equipment Notes, with respect to all of the Aircraft for which Series B
Equipment Notes are at the time outstanding, are redeemed and new Equipment Notes of corresponding
series are to be issued in accordance with the terms of Section 2.11(b) of each Indenture and
Section 4(a)(v) of the Note Purchase Agreement, such series of new Equipment Notes (the
“Refinancing Equipment Notes”) shall be issued to a new pass through trust (a “Refinancing Trust”)
that issues a class of pass through certificates (the “Refinancing Certificates”) to
certificateholders (the “Refinancing Certificateholders”) pursuant to a pass through trust
agreement (a “Refinancing Trust Agreement”) with a trustee (a “Refinancing Trustee”). A
Refinancing Trust, a Refinancing Trustee and the Refinancing Certificates shall be subject to all
of the provisions of this Agreement in the same manner as the Trust, the Trustee and the
Certificates of the Class corresponding to the series of the refinanced Equipment Notes, including,
the subordination of the Refinancing Certificates to the extent provided herein to the
Administration Expenses, the Liquidity Obligations and the Class A Certificates. Such issuance of
Refinancing Equipment Notes and Refinancing Certificates and the amendment of this Agreement as
provided below shall require Ratings Confirmation with respect to the Class A Certificates and
shall not materially adversely affect any of the Trustees in their individual capacities or any of
the Liquidity Providers. This Agreement shall be amended by written agreement of Delta and the
Subordination Agent to give effect to the issuance of the Refinancing Certificates subject to the
following terms and conditions:

     (i) the Refinancing Trustee shall be added as a party to this Agreement;

     (ii) the definitions of “Certificate”, “Class”, “Class B Certificates”, “Final Legal
Distribution Date”, “Trust”, “Trust Agreement” and “Controlling Party” (and such other
applicable definitions) shall be revised, as appropriate, to reflect such issuance (and the
subordination of the Refinancing Certificates and the Refinancing Equipment Notes);

     (iii) the Refinancing Certificates may have the benefit of credit support similar to
the initial Class B Liquidity Facility, if any, or different therefrom and claims for fees,
interest, expenses, reimbursement of advances and other obligations arising from such credit
support may rank pari passu with similar claims in respect of the initial Class B Liquidity
Facility, if any;

     (iv) the Refinancing Certificates cannot be issued to Delta but may be issued to any of
Delta’s Affiliates so long as such Affiliate shall have bankruptcy remote and special
purpose provisions in its certificate of incorporation or other organizational documents and
any subsequent transfer of the Refinancing Certificates to any Affiliate of Delta shall be
similarly restricted; and

     (v) the scheduled payment dates on the Refinancing Equipment Notes shall be the Regular
Distribution Dates.

          The issuance of the Refinancing Certificates in compliance with all of the foregoing terms of
this Section 8.01(c) shall not require the consent of any of the Trustees or the holders of Class A
Certificates. Each of the Liquidity Providers hereby agrees and confirms that it shall be deemed
to consent to any issuance and amendment in accordance with this Section 8.01(c) and any such
issuance and amendment shall not affect any of its respective

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obligations under the applicable Liquidity Facility, provided that a condition to the issuance of any
Refinancing Certificates shall be the payment in full of all amounts owed to the Class B Liquidity
Provider, if any, and the termination of the Class B Liquidity Facility, if any, upon the issuance
of the Refinancing Certificates. The Subordination Agent shall deliver to each Trustee and each
Liquidity Provider a copy of the amendments made to this Agreement and all opinions, certificates
and other documents delivered in connection with the issuance of any Refinancing Certificates.

          (d) Pursuant to the terms of Section 2.02 of each Indenture and Section 4(a)(v) of the Note
Purchase Agreement, Series B Equipment Notes, which shall be subordinated in right of payment to
the Series A Equipment Notes to the extent provided in the applicable Indenture, may be issued at
any time. Series B Equipment Notes issued under any Indenture shall be issued to the Class B Trust
that issues Class B Certificates to Class B Certificateholders pursuant to a Class B Trust
Agreement with the Class B Trustee. The issuance of the Class B Certificates and the amendment of
this Agreement as provided below (x) shall require Ratings Confirmation with respect to the Class A
Certificates, (y) if the Class B Certificates are to have the benefit of a Class B Liquidity
Facility and the Required Amount of the Class B Liquidity Facility would, at any date of
determination, exceed the amount set forth in Schedule A attached hereto for the date most recently
preceding such date of determination (assuming that, as of such date of determination, the Pool
Balance of the Class B Certificates has been reduced by all Expected Distributions on the Class B
Certificates in respect of all Distribution Dates prior to such date of determination), shall
require the prior written consent of the Class A Liquidity Provider and (z) shall not materially
adversely affect the Class A Trustee in its individual capacity. This Agreement shall be amended
by written agreement of Delta and the Subordination Agent to give effect to the issuance of any
Class B Certificates, provided that the following terms and conditions shall apply to any such
amendment:

          (i) each of the Class B Trustee and (if applicable) the Class B Liquidity Provider shall be
added as a party to this Agreement, all Class B Related Terms shall be revised, as appropriate, to
reflect the issuance of the Class B Certificates and become effective upon the accession hereto of
the Class B Trustee and (if applicable) the Class B Liquidity Provider, and the terms “Final Legal
Distribution Date” and “Stated Interest Rate” shall be revised to specify such date and rate for
the Class B Certificates;

          (ii) in the event that Class B Certificates are issued prior to the Delivery Period
Termination Date, the definitions of Deposit Agreement, Escrow and Paying Agent Agreement, Escrow
Agent, Escrow Receipts, Paying Agent, Paying Agent Account, Expected Distributions, Final
Distributions and Pool Balance (and any other applicable definition) and the related provisions
hereof shall be appropriately revised to reflect any applicable deposit and escrow arrangement in
relation to the Class B Certificates;

          (iii) the Class B Certificates may be rated by the Rating Agencies;

          (iv) if the Class B Certificates are to have the benefit of a Class B Liquidity Facility,
Section 3.05 and any other provisions hereof shall be revised to the extent necessary to reflect
the terms and conditions of the Class B Liquidity Facility, provided that such revisions shall not
materially adversely affect the Class A Liquidity Provider;

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          (v) the Class B Certificates cannot be issued to Delta but may be issued to any of Delta’s
Affiliates so long as such Affiliate shall have bankruptcy remote and special purpose provisions in
its certificate of incorporation or other organizational documents and any subsequent transfer of
the Class B Certificates to any Affiliate of Delta shall be similarly restricted; and

          (vi) the scheduled payment dates on Series B Equipment Notes shall fall on a Regular
Distribution Date; and

          (vii) nothing contained in this Section 8.01(d) shall permit any amendment that is otherwise
prohibited by the second sentence of Section 8.01(a) unless, in the case of clause (ii) thereof,
the Class A Certificateholders and the Class A Liquidity Provider (as determined in the Class A
Liquidity Provider’s reasonable judgment) shall not be adversely affected with respect to the
distribution of monies received by the Subordination Agent hereunder from the Equipment Notes or
pursuant to the Class A Liquidity Facility.

          The issuance of the Class B Certificates in compliance with all of the foregoing terms of this
Section 8.01(d) shall not require the consent of any of the Class A Trustee or the Class A
Certificateholders. The Class A Liquidity Provider hereby agrees and confirms that it shall be
deemed to consent to the issuance of the Class B Certificates and amendment in accordance with this
Section 8.01(d) and any such issuance and amendment shall not affect any of its obligations under
the Class A Liquidity Facility. The Subordination Agent shall deliver to the Class A Trustee and
the Class A Liquidity Provider a copy of the amendments made to this Agreement and all opinions,
certificates and other documents delivered in connection with the issuance of the Class B
Certificates.

          (e) The parties hereto acknowledge that the Class B Related Terms have been included herein in
contemplation of the issuance of Class B Certificates pursuant to Section 8.01(d) hereof. The
parties hereto agree that prior to such issuance, the Class B Related Terms (other than as provided
in Section 8.01(d) above and this Section 8.01(e)) shall be of no effect and shall be disregarded.

          Section 8.02. Subordination Agent Protected. If, in the reasonable opinion of the
institution acting as the Subordination Agent hereunder, any document required to be executed by it
pursuant to the terms of Section 8.01 adversely affects any right, duty, immunity or indemnity with
respect to such institution under this Agreement or any Liquidity Facility, the Subordination Agent
may in its discretion decline to execute such document.

          Section 8.03. Effect of Supplemental Agreements. Upon the execution of any amendment,
consent or supplement hereto pursuant to the provisions hereof, this Agreement shall be and shall
be deemed to be modified and amended in accordance therewith and the respective rights, limitations
of rights, obligations, duties and immunities under this Agreement of the parties hereto and
beneficiaries hereof shall thereafter be determined, exercised and enforced hereunder subject in
all respects to such modifications and amendments, and all the terms and conditions of any such
supplemental agreement shall be and be deemed to be part of the terms and conditions of this
Agreement for any and all purposes. In executing or accepting any supplemental agreement permitted
by this Article VIII, the Subordination Agent shall be

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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 8.04. Notice to Rating Agencies. Promptly following its receipt of each
amendment, consent, modification, supplement or waiver contemplated by this Article VIII, the
Subordination Agent shall send a copy thereof to each Rating Agency.

ARTICLE IX

MISCELLANEOUS

          Section 9.01. Termination of Intercreditor Agreement. Following payment of Final
Distributions with respect to each Class of Certificates and the payment in full of all Liquidity
Obligations to the Liquidity Providers and provided that there shall then be no other amounts due
to the Certificateholders, the Trustees, the Liquidity Providers and the Subordination Agent
hereunder or under the Trust Agreements, and that the commitment of the Liquidity Providers under
the Liquidity Facilities shall have expired or been terminated, this Agreement shall terminate and
shall be of no further force or effect. Except as aforesaid or otherwise provided, this Agreement
and the trusts created hereby shall continue in full force and effect in accordance with the terms
hereof.

          Section 9.02. Intercreditor Agreement for Benefit of Trustees, Liquidity Providers and
Subordination Agent. Subject to the second sentence of Section 9.06 and the provisions of
Section 4.04 and 8.01, nothing in this Agreement, whether express or implied, shall be construed to
give to any Person other than the Trustees, the Liquidity Providers and the Subordination Agent any
legal or equitable right, remedy or claim under or in respect of this Agreement.

          Section 9.03. Notices. Unless otherwise expressly specified or permitted by the terms
hereof, all notices required or permitted under the terms and provisions of this Agreement shall be
in English and in writing, and any such notice may be given by United States 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 United States 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 such transmission was received),

if to the Subordination Agent, to:

U.S. Bank Trust National Association

One Federal Street, 3rd Floor

Boston, Massachusetts 02110

Attention: Corporate Trust Administration

Ref.: Delta 2010-1 EETC

Telephone: (617) 603-6553

Telecopy: (617) 603-6683

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if to any Trustee, to:

U.S. Bank Trust National Association

300 Delaware Avenue, 9th Floor

Mail Code EX-DE-WDAW

Wilmington, Delaware 19801

Attention: Corporate Trust Services

Ref.: Delta 2010-1 EETC

Telephone: (302) 576-3703

Telecopy: (302) 576-3717

if to the Class A Liquidity Provider, to:

NATIXIS S.A., acting via its New York Branch

Attention: Lily Cheung

9 West 57th Street, 34th Floor

New York, NY 10019

Telephone: (212) 891-1948

Telecopy: (212) 891-1900

Lily.Cheung@us.natixis.com

with a copy to:

NATIXIS S.A., acting via its New York Branch

Attention: Martha Sealy

1251 Avenue of the Americas

New York, NY 10020

Telephone: (212) 872-5031

Telecopy: (347) 402-3031

Martha.Sealy@us.natixis.com

cc: Delta 2010_1_Report@us.natixis.com

          Any party, by notice to the other parties hereto, may designate additional or different
addresses for subsequent notices or communications. Whenever the words “notice” or “notify” or
similar words are used herein, they mean the provision of formal notice as set forth in this
Section 9.03.

          Section 9.04. Severability. To the extent permitted by applicable law, 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 9.05. No Oral Modifications or Continuing Waivers. No terms or provisions of
this Agreement may be changed, waived, discharged or terminated orally, but only by an instrument
in writing signed by the party or other Person against whom enforcement of the change, waiver,
discharge or termination is sought and any other party or other Person whose consent is required
pursuant to this Agreement and any waiver of the terms hereof shall be effective only in the
specific instance and for the specific purpose given.

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          Section 9.06. Successors and Assigns. All covenants and agreements contained herein
shall bind and inure to the benefit of, and be enforceable by, each of the parties hereto and the
successors and permitted assigns of each, all as herein provided. In addition, the Delta
Provisions shall inure to the benefit of Delta and its successors and permitted assigns, and
(without limitation of the foregoing) Delta is hereby constituted, and agreed to be, an express
third party beneficiary of the Delta Provisions.

          Section 9.07. Headings. The headings of the various Articles and Sections herein and
in the Table of Contents hereto are for convenience of reference only and shall not define or limit
any of the terms or provisions hereof.

          Section 9.08. Counterparts. This Agreement may be executed in any number of
counterparts (and each party shall not be required to execute the same counterpart). Each
counterpart of this Agreement including a signature page or pages executed by each of the parties
hereto shall be an original counterpart of this Agreement, but all of such counterparts together
constitute one instrument.

          Section 9.09. Subordination. (a) As between the Liquidity Providers, on the one
hand, and the Trustees (and any Refinancing Trustees) and the Certificateholders (and any
Refinancing Certificateholders), on the other hand, and as among the Trustees (and any Refinancing
Trustees) and the related Certificateholders (and any Refinancing Certificateholders) this
Agreement shall be a subordination agreement for purposes of Section 510 of the United States
Bankruptcy Code, as amended from time to time.

          (b) Notwithstanding the provisions of this Agreement, if prior to the payment in full to the
Liquidity Providers of all Liquidity Obligations then due and payable any party hereto shall have
received any payment or distribution in respect of Equipment Notes or any other amount under the
Indentures or other Operative Agreements which, had the subordination provisions of this Agreement
been properly applied to such payment, distribution or other amount, would not have been
distributed to such Person, then such payment, distribution or other amount shall be received and
held in trust by such Person and paid over or delivered to the Subordination Agent for application
as provided herein.

          (c) If any Trustee, any Liquidity Provider or the Subordination Agent receives any payment in
respect of any obligations owing or amounts distributable hereunder (or, in the case of the
Liquidity Providers, in respect of the Liquidity Obligations), which is subsequently invalidated,
declared preferential, set aside and/or required to be repaid to a trustee, receiver or other
party, then, to the extent of such payment, such obligations or amounts (or, in the case of the
Liquidity Providers, such Liquidity Obligations) intended to be satisfied shall be revived and
continue in full force and effect as if such payment had not been received.

          (d) The Trustees (on behalf of themselves and the holders of Certificates), the Liquidity
Providers and the Subordination Agent expressly confirm and agree that the payment priorities and
subordination specified in Articles II and III shall apply in all circumstances, notwithstanding
(x) the fact that the obligations owed to the Trustees are secured by certain assets and the
Liquidity Obligations may not be so secured or (y) the occurrence of a Delta Bankruptcy Event or
any similar event or occurrence relating to any other Person (it being

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expressly agreed that the payment priorities and subordination specified in Articles II and
III shall apply whether or not a claim for post-petition or post-filing interest is allowed in the
proceedings resulting from such Delta Bankruptcy Event or other event or occurrence). The Trustees
expressly agree (on behalf of themselves and the holders of Certificates) not to assert priority
over the holders of Liquidity Obligations (except as specifically set forth in Section 3.02) due to
their status as secured creditors in any bankruptcy, insolvency or other legal proceeding.

          (e) Each of the Trustees (on behalf of themselves and the holders of Certificates), the
Liquidity Providers and the Subordination Agent may take any of the following actions without
impairing its rights under this Agreement:

     (i) obtain a Lien on any property to secure any amounts owing to it hereunder,
including, in the case of the Liquidity Providers, the Liquidity Obligations;

     (ii) obtain the primary or secondary obligation of any other obligor with respect to
any amounts owing to it hereunder, including, in the case of the Liquidity Providers, any of
the Liquidity Obligations;

     (iii) renew, extend, increase, alter or exchange any amounts owing to it hereunder,
including, in the case of the Liquidity Providers, any of the Liquidity Obligations, or
release or compromise any obligation of any obligor with respect thereto;

     (iv) refrain from exercising any right or remedy, or delay in exercising any right or
remedy, which it may have; or

     (v) take any other action which might discharge a subordinated party or a surety under
applicable law;

provided, however, that the taking of any such actions by any of the Trustees, the Liquidity
Providers or the Subordination Agent shall not prejudice the rights or adversely affect the
obligations of any other party under this Agreement.

          Section 9.10. Governing Law. THIS AGREEMENT HAS BEEN DELIVERED IN THE STATE OF NEW
YORK AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK,
INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE.

          Section 9.11. Submission to Jurisdiction; Waiver of Jury Trial; Waiver of Immunity.
(a) Each of the parties hereto, to the extent it may do so under applicable law, for purposes
hereof and of all other Operative Agreements hereby (i) irrevocably submits itself to the
non-exclusive jurisdiction of the courts of the State of New York sitting in the City of New York
and to the non-exclusive jurisdiction of the United States District Court for the Southern District
of New York, for the purposes of any suit, action or other proceeding arising out of this
Agreement, the subject matter hereof or any of the transactions contemplated hereby brought by any
party or parties hereto or thereto, or their successors or permitted assigns and (ii) waives, and
agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or
proceeding, that the suit, action or proceeding is brought in an inconvenient forum, that the

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venue of the suit, action or proceeding is improper or that this Agreement or the subject
matter hereof or any of the transactions contemplated hereby may not be enforced in or by such
courts.

          (b) EACH OF THE PARTIES HERETO HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF
ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY DEALINGS BETWEEN
THEM RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT AND THE RELATIONSHIP THAT IS BEING
ESTABLISHED, including, without limitation, contract claims, tort claims, breach of duty claims and
all other common law and statutory claims. Each of the parties warrants and represents that it has
reviewed this waiver with its legal counsel, and that it knowingly and voluntarily waives its jury
trial rights following consultation with such legal counsel. TO THE EXTENT PERMITTED BY APPLICABLE
LAW, THIS WAIVER IS IRREVOCABLE AND CANNOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THIS WAIVER
SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT.

          (c) To the extent that any Liquidity Provider or any of its properties has or may hereafter
acquire any right of immunity, whether characterized as sovereign immunity or otherwise, and
whether under the United States Foreign Sovereign Immunities Act of 1976 (or any successor
legislation) or otherwise, from any legal proceedings, whether in the United States or elsewhere,
to enforce or collect upon this Agreement, including, without limitation, immunity from suit or
service of process, immunity from jurisdiction or judgment of any court or tribunal or execution of
a judgment, or immunity of any of its property from attachment prior to any entry of judgment, or
from attachment in aid of execution upon a judgment, each of the Class A Liquidity Provider and,
upon the accession hereto, the Class B Liquidity Provider, hereby irrevocably and expressly waives
any such immunity, and agrees not to assert any such right or claim in any such proceeding, whether
in the United States or elsewhere.

          Section 9.12. Non-Petition. Each Liquidity Provider covenants that until one year and
one day after the Equipment Notes have been paid in full, it shall not acquiesce, petition or
otherwise invoke or cause or join in invoking or causing any Trust or any other Person to invoke
the process of any governmental authority for the purpose of commencing or sustaining a case
(whether voluntary or not) against such Trust under any bankruptcy, insolvency or similar law or
appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar
official of such Trust or any substantial part of its property or ordering the winding up or
liquidation of the affairs of such Trust.

[Remainder of Page Intentionally Left Blank]

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

	 	 	 	 	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION,
 as Trustee for
the Class A Trust

 	 
	 	By:  	/s/
Alison D.B. Nadeau
 	 
	 	 	Name:  	Alison D.B. Nadeau 	 
	 	 	Title:  	Vice President 	 
	 
	 	NATIXIS S.A., ACTING VIA ITS NEW YORK BRANCH,

as Class A Liquidity Provider

 	 
	 	By:  	/s/
Jerome Le Jamtel
 	 
	 	 	Name:  	Jerome Le Jamtel 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	
/s/ Lily Cheung
 	 
	 	 	Name:  	Lily Cheung 	 
	 	 	Title:  	Director
Natixis 	 
	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION,
 as
Subordination Agent

 	 
	 	By:  	/s/
Alison D.B. Nadeau
 	 
	 	 	Name:  	Alison D.B. Nadeau 	 
	 	 	Title:  	Vice President 	 
	 

Intercreditor Agreement (2010-1)

(2010-1 EETC)

 

 

Schedule A

	 	 	 	 	 
	Class B Liquidity Facility	 
	Date	 	Maximum Dollar Amount	 
	July 2, 2010
	 	$	12,641,235	 
	 
	January 2, 2011
	 	 	12,376,673	 
	 
	July 2, 2011
	 	 	11,082,867	 
	 
	January 2, 2012
	 	 	10,205,463	 
	 
	July 2, 2012
	 	 	9,356,005	 
	 
	January 2, 2013
	 	 	8,534,493	 
	 
	July 2, 2013
	 	 	7,814,160	 
	 
	January 2, 2014
	 	 	7,119,360	 
	 
	July 2, 2014
	 	 	6,379,274	 
	 
	January 2, 2015
	 	 	5,661,912	 
	 
	July 2, 2015
	 	 	4,966,792	 
	 
	January 2, 2016
	 	 	4,296,429	 
	 
	July 2, 2016
	 	 	3,832,951	 
	 
	January 2, 2017
	 	 	3,393,904	 
	 
	July 2, 2017
	 	 	0	 
	 

Intercreditor Agreement (2010-1)

(2010-1 EETC)exv4w5

Exhibit 4.5

      

REVOLVING CREDIT AGREEMENT

(2010-1A)

Dated as of July 2, 2010

between

U.S. BANK TRUST NATIONAL ASSOCIATION,

as Subordination Agent,

as agent and trustee for the trustee of

Delta Air Lines Pass Through Trust 2010-1A,

as Borrower

and

NATIXIS S.A., ACTING VIA ITS NEW YORK BRANCH

as Liquidity Provider

Delta Air Lines Pass Through Trust 2010-1A

Delta Air Lines

Pass Through Certificates,

Series 2010-1A

 

Revolving Credit Agreement (Class A)

(2010-1 EETC)

 

 

Table of Contents

	 	 	 	 	 	 	 
	 	 	 	 	Page
	Article I

	 
	DEFINITIONS

	Section 1.01

	 	Definitions
	 	 	1	 
	 
	 	 	 	 	 	 
	Article II

	 
	AMOUNT AND TERMS OF THE COMMITMENT

	Section 2.01

	 	The Advances
	 	 	8	 
	Section 2.02

	 	Making of Advances
	 	 	8	 
	Section 2.03

	 	Fees
	 	 	11	 
	Section 2.04

	 	Reduction or Termination of the Maximum Commitment
	 	 	11	 
	Section 2.05

	 	Repayments of Interest Advances, the Special Termination Advance or the
Final Advance
	 	 	11	 
	Section 2.06

	 	Repayments of Provider Advances
	 	 	12	 
	Section 2.07

	 	Payments to the Liquidity Provider Under the Intercreditor Agreement
	 	 	13	 
	Section 2.08

	 	Book Entries
	 	 	13	 
	Section 2.09

	 	Payments from Available Funds Only
	 	 	13	 
	Section 2.10

	 	Extension of the Expiry Date; Non-Extension Advance
	 	 	13	 
	 
	 	 	 	 	 	 
	Article III

	 
	OBLIGATIONS OF THE BORROWER

	Section 3.01

	 	Increased Costs
	 	 	14	 
	Section 3.02

	 	Intentionally omitted
	 	 	15	 
	Section 3.03

	 	Withholding Taxes
	 	 	15	 
	Section 3.04

	 	Payments
	 	 	16	 
	Section 3.05

	 	Computations
	 	 	17	 
	Section 3.06

	 	Payment on Non-Business Days
	 	 	17	 
	Section 3.07

	 	Interest
	 	 	17	 
	Section 3.08

	 	Replacement of Borrower
	 	 	18	 
	Section 3.09

	 	Funding Loss Indemnification
	 	 	19	 

Revolving Credit Agreement (Class A)

(2010-1 EETC)

i

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	Section 3.10

	 	Illegality
	 	 	19	 
	Article IV

	 
	CONDITIONS PRECEDENT

	 
	Section 4.01

	 	Conditions Precedent to Effectiveness of Section 2.01
	 	 	20	 
	Section 4.02

	 	Conditions Precedent to Borrowing
	 	 	21	 
	Article V

	 
	COVENANTS

	Section 5.01

	 	Affirmative Covenants of the Borrower
	 	 	21	 
	Section 5.02

	 	Negative Covenants of the Borrower
	 	 	22	 
	 
	 	 	 	 	 	 
	Article VI

	 
	LIQUIDITY EVENTS OF DEFAULT AND SPECIAL TERMINATION

	 
	Section 6.01

	 	Liquidity Events of Default
	 	 	22	 
	 
	 	 	 	 	 	 
	Article VII

	 
	MISCELLANEOUS

	Section 7.01

	 	No Oral Modifications or Continuing Waivers
	 	 	23	 
	Section 7.02

	 	Notices
	 	 	23	 
	Section 7.03

	 	No Waiver; Remedies
	 	 	24	 
	Section 7.04

	 	Further Assurances
	 	 	24	 
	Section 7.05

	 	Indemnification; Survival of Certain Provisions
	 	 	24	 
	Section 7.06

	 	Liability of the Liquidity Provider
	 	 	24	 
	Section 7.07

	 	Certain Costs and Expenses
	 	 	25	 
	Section 7.08

	 	Binding Effect; Participations
	 	 	25	 
	Section 7.09

	 	Severability
	 	 	26	 
	Section 7.10

	 	Governing Law
	 	 	27	 
	Section 7.11

	 	Submission to Jurisdiction; Waiver of Jury Trial; Waiver of Immunity
	 	 	27	 
	Section 7.12

	 	Counterparts
	 	 	28	 
	Section 7.13

	 	Entirety
	 	 	28	 
	Section 7.14

	 	Headings
	 	 	28	 

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	 	 	 	 	Page
	Section 7.15

	 	Liquidity Provider’s Obligation to Make Advances
	 	 	28	 
	Section 7.16

	 	Head Office Obligations
	 	 	28	 

	 	 	 	 	 

	Annex I

	 	-
	 	Form of Interest Advance Notice of Borrowing
	Annex II

	 	-
	 	Form of Non-Extension Advance Notice of Borrowing
	Annex III

	 	-
	 	Form of Downgrade Advance Notice of Borrowing
	Annex IV

	 	-
	 	Form of Final Advance Notice of Borrowing
	Annex V

	 	-
	 	Form of Special Termination Advance Notice of Borrowing
	Annex VI

	 	-
	 	Form of Notice of Termination
	Annex VII

	 	-
	 	Form of Notice of Special Termination
	Annex VIII

	 	-
	 	Form of Notice of Replacement Subordination Agent

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REVOLVING CREDIT AGREEMENT

(2010-1A)

     This REVOLVING CREDIT AGREEMENT (2010-1A), dated as of July 2, 2010, is made by and between
U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, not in its individual
capacity but solely as Subordination Agent (such term and other capitalized terms used herein
without definition being defined as provided in Article I) under the Intercreditor Agreement (as
defined below), as agent and trustee for the Class A Trustee (in such capacity, together with its
successors in such capacity, the “Borrower”), and NATIXIS S.A. (“Natixis”), a French société
anonyme, acting via its New York Branch (the “Liquidity Provider”).

W I T N E S S E T H:

     WHEREAS, pursuant to the Class A Trust Agreement, the Class A Trust is issuing the Class A
Certificates; and

     WHEREAS, the Borrower, in order to support the timely payment of a portion of the interest on
the Class A Certificates in accordance with their terms, has requested the Liquidity Provider to
enter into this Agreement, providing in part for the Borrower to request in specified circumstances
that Advances be made hereunder;

     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. (a) The definitions stated herein apply equally to both
the singular and the plural forms of the terms defined.

          (b) All references in this Agreement to designated “Articles”, “Sections”, “Annexes” and other
subdivisions are to the designated Article, Section, Annex or other subdivision of this Agreement,
unless otherwise specifically stated.

          (c) The words “herein”, “hereof” and “hereunder” and other words of similar import refer to
this Agreement as a whole and not to any particular Article, Section, Annex or other subdivision.

          (d) 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”.

          (e) All references in this Agreement to a Person shall include successors and permitted
assigns of such Person.

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          (f) For the purposes of this Agreement, unless the context otherwise requires, the following
capitalized terms shall have the following meanings:

     “Advance” means an Interest Advance, a Final Advance, a Provider Advance, an Unapplied
Provider Advance, an Applied Provider Advance, a Special Termination Advance, an Applied Special
Termination Advance or an Unpaid Advance, as the case may be.

     “Agreement” means this Agreement, as the same may be amended, supplemented or otherwise
modified from time to time in accordance with its terms.

     “Applicable Liquidity Rate” has the meaning specified in Section 3.07(g).

     “Applicable Margin” means (a) with respect to any Interest Advance, Final Advance, Applied
Provider Advance or Applied Special Termination Advance, 4.00% per annum, (b) with respect to any
Unapplied Provider Advance, the rate per annum specified in the Fee Letter or (c) with respect to
any Special Termination Advance, the rate per annum specified in the Fee Letter.

     “Applied Downgrade Advance” has the meaning specified in Section 2.06(a).

     “Applied Non-Extension Advance” has the meaning specified in Section 2.06(a).

     “Applied Provider Advance” means an Applied Downgrade Advance or an Applied Non-Extension
Advance.

     “Applied Special Termination Advance” has the meaning assigned to such term in Section 2.05.

     “Base Rate” means a fluctuating interest rate per annum in effect from time to time, which
rate per annum shall at all times be equal to the weighted average of the rates on overnight
Federal funds transactions with members of the Federal Reserve System arranged by Federal funds
brokers, as published for each day in the period for which the Base Rate is to be determined (or,
if such day is not a Business Day, for the preceding Business Day) by the Federal Reserve Bank of
New York, or if such rate is not so published for any day that is a Business Day, the average of
the quotations for such day for such transactions received by the Liquidity Provider from three
Federal funds brokers of recognized standing selected by it (and reasonably satisfactory to Delta)
plus one-quarter of one percent (0.25%).

     “Base Rate Advance” means an Advance that bears interest at a rate based upon the Base Rate.

     “Borrower” has the meaning specified in the introductory paragraph to this Agreement.

     “Borrowing” means the making of Advances requested by delivery of a Notice of Borrowing.

     “Business Day” means 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, Atlanta, Georgia,

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Wilmington, Delaware, or, so long as any Class A Certificate is outstanding, the city and
state in which the Class A Trustee, the Borrower or any related Loan Trustee maintains its
Corporate Trust Office or receives or disburses funds, and, if the applicable Business Day relates
to any Advance or other amount bearing interest based on the LIBOR Rate, on which dealings are
carried on in the London interbank market.

     “Consent Period” has the meaning specified in Section 2.10.

     “Covered Taxes” means any Taxes imposed by the United States, or any political subdivision or
taxing authority thereof or therein, that are required by law to be deducted or withheld from any
amounts payable to the Liquidity Provider under this Agreement other than (i) any Tax on, based on
or measured by net income, franchises or conduct of business, (ii) any Tax imposed, levied,
withheld or assessed as a result of any connection between the Liquidity Provider and the United
States or such political subdivision or taxing authority, other than a connection arising solely
from the Liquidity Provider’s having executed, delivered, performed its obligations or received a
payment under, or enforced, any Operative Agreement, (iii) any Tax attributable to the inaccuracy
in or breach by the Liquidity Provider of any of its representations, warranties or covenants
contained in any Operative Agreement to which it is a party or the inaccuracy of any form,
certificate or document furnished pursuant thereto, (iv) any withholding Taxes imposed by the
United States except to the extent such withholding Taxes would not have been required to be
deducted or withheld from payments hereunder but for a change after the date hereof in the U.S.
Internal Revenue Code or the Treasury Regulations thereunder that affects the exemption for income
that is effectively connected with the conduct of a trade or business within the United States,
(v) any withholding Taxes imposed by the United States which are imposed or increased as a result
of the Liquidity Provider failing to deliver to the Borrower any form, certificate or document
(which form, certificate or document, in the good faith judgment of the Liquidity Provider, it is
legally entitled to provide) which is reasonably requested by the Borrower to establish that
payments under this Agreement are exempt from (or entitled to a reduced rate of) withholding Tax,
or (vi) any change in the Lending Office without the prior written consent of Delta (such consent
not to be unreasonably withheld).

     “Downgrade Advance” means an Advance made pursuant to Section 2.02(b)(ii).

     “Downgrade Event” means a downgrading of the Liquidity Provider’s Short-Term Rating issued by
either Rating Agency (or if the Liquidity Provider does not have a Short-Term Rating issued by a
given Rating Agency, the Long-Term Rating issued by such Rating Agency) below the applicable
Threshold Rating.

     “Effective Date” has the meaning specified in Section 4.01. The delivery of the certificate
of the Liquidity Provider contemplated by Section 4.01(e) shall be conclusive evidence that the
Effective Date has occurred.

     “Excluded Taxes” means (a) Taxes imposed on the overall net income of the Liquidity Provider,
(b) Taxes imposed on the “effectively connected income” of its Lending Office, (c) Covered Taxes
that are indemnified pursuant to Section 3.03 hereof, and (d) Taxes described in clauses (i)
through (vi) in the definition of “Covered Taxes”.

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     “Expenses” means liabilities, losses, damages, costs and expenses (including, without
limitation, reasonable fees and disbursements of legal counsel), provided that Expenses
shall not include any Taxes other than sales, use and V.A.T. taxes imposed on fees and expenses
payable pursuant to Section 7.07.

     “Expiry Date” means July 1, 2011, initially, or any date to which the Expiry Date is extended
pursuant to Section 2.10.

     “Final Advance” means an Advance made pursuant to Section 2.02(c).

     “Increased Cost” has the meaning specified in Section 3.01.

     “Intercreditor Agreement” means the Intercreditor Agreement, dated as of the date hereof,
among the Trustees, the Liquidity Provider, the liquidity provider under each Liquidity Facility
(other than this Agreement), if any, and the Subordination Agent, as the same may be amended,
supplemented or otherwise modified from time to time in accordance with its terms.

     “Interest Advance” means an Advance made pursuant to Section 2.02(a).

     “Interest Period” means, with respect to any LIBOR Advance, each of the following periods:

     (i) the period beginning on the third Business Day following either (A) the Liquidity
Provider’s receipt of the Notice of Borrowing for such LIBOR Advance or (B) the date of the
withdrawal of funds from the Class A Cash Collateral Account for the purpose of paying
interest on the Class A Certificates as contemplated by Section 2.06(a) hereof and, in each
case, ending on the next numerically corresponding day in the sixth calendar month after the
first day of the applicable Interest Period; and

     (ii) each subsequent period commencing on the last day of the immediately preceding
Interest Period and ending on the numerically corresponding day in the sixth calendar month
after the first day of the applicable Interest Period;

provided, however, that if (x) the Final Advance shall have been made pursuant to
Section 2.02(c) or (y) other outstanding Advances shall have been converted into the Final Advance
pursuant to Section 6.01(a), then the Interest Periods shall be successive periods of one month
beginning on (A) the third Business Day following the Liquidity Provider’s receipt of the Notice of
Borrowing for such Final Advance (in the case of clause (x) above) or (B) the Regular Distribution
Date following such conversion (in the case of clause (y) above).

     “Lending Office” means the lending office of the Liquidity Provider through which it acts for
purposes of this Agreement, which is presently located at 9 West 57th Street,
35th Floor, New York, New York 10019, or such other lending office as the Liquidity
Provider from time to time shall notify the Borrower as its lending office hereunder;
provided that the Liquidity Provider shall not change its Lending Office without the prior
written consent of Delta (such consent not to be unreasonably withheld).

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     “LIBOR Advance” means an Advance bearing interest at a rate based upon the LIBOR Rate.

     “LIBOR Rate” means, with respect to any Interest Period, (a) the interest rate per annum equal
to the rate per annum at which deposits in Dollars are offered in the London interbank market as
shown on the Reuters Screen LIBOR01 (or such other page or screen as may replace such Reuters
Screen) at approximately 11:00 a.m. (London time) on the day that is two Business Days prior to the
first day of such Interest Period, for a period comparable to such Interest Period, or (b) if no
such rate appears on such Reuters Screen (or otherwise as aforesaid), the interest rate per annum
equal to the average (rounded up, if necessary, to the nearest 1/100th of 1%) of the rates per
annum at which deposits in Dollars are offered by the Reference Banks (or, if fewer than all of the
Reference Banks are quoting a rate for deposits in Dollars for the applicable period and amount,
such fewer number of Reference Banks) at approximately 11:00 a.m. (London time) on the day that is
two Business Days prior to the first day of such Interest Period to prime banks in the London
interbank market for a period comparable to such Interest Period and in an amount approximately
equal to the principal amount of the LIBOR Advance to be outstanding during such Interest Period,
or (c) if none of the Reference Banks is quoting a rate for deposits in Dollars in the London
interbank market for such a period and amount, the interest rate per annum equal to the average
(rounded up, if necessary, to the nearest 1/100th of 1%) of the rates at which deposits in Dollars
are offered by the principal New York offices of the Reference Banks (or, if fewer than all of the
Reference Banks are quoting a rate for deposits in Dollars in the New York interbank market for the
applicable period and amount, such fewer number of Reference Banks) at approximately 11:00 a.m.
(New York time) on the day that is two Business Days prior to the first day of such Interest Period
to prime banks in the New York interbank market for a period comparable to such Interest Period and
in an amount approximately equal to the principal amount of the LIBOR Advance to be outstanding
during such Interest Period, or (d) if none of the principal New York offices of the Reference
Banks is quoting a rate for deposits in Dollars in the New York interbank market for the applicable
period and amount, the Base Rate.

     “Liquidity Event of Default” means the occurrence of either (a) the Acceleration of all of the
Equipment Notes (provided that, with respect to the period prior to the Delivery Period
Termination Date, the aggregate principal balance of such Equipment Notes is in excess of
$150,000,000) or (b) a Delta Bankruptcy Event.

     “Liquidity Indemnitee” means the Liquidity Provider, its directors, officers, employees and
agents, and its successors and permitted assigns.

     “Liquidity Provider” has the meaning specified in the introductory paragraph to this
Agreement.

     “Maximum Available Commitment” means, subject to the proviso contained in the third sentence
of Section 2.02(a), at any time of determination, (a) the Maximum Commitment at such time less
(b) the aggregate amount of each Interest Advance outstanding at such time; provided that
following a Provider Advance, a Special Termination Advance or a Final Advance, the Maximum
Available Commitment shall be zero.

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     “Maximum Commitment” means $41,850,000, as the same may be reduced from time to time in
accordance with Section 2.04(a).

     “Non-Extension Advance” means an Advance made pursuant to Section 2.02(b)(i).

     “Notice of Borrowing” has the meaning specified in Section 2.02(e).

     “Notice of Replacement Subordination Agent” has the meaning specified in Section 3.08.

     “Participation” has the meaning specified in Section 7.08(b).

     “Performing Note Deficiency” means any time that less than 65% of the then aggregate
outstanding principal amount of all Equipment Notes are Performing Equipment Notes.

     “Permitted Transferee” means any Person that:

     (a) is not a commercial air carrier, Delta or any affiliate of Delta; and

     (b) is any one of:

     (1) a commercial banking institution organized under the laws of the United States or
any state thereof or the District of Columbia;

     (2) a commercial banking institution that (x) is organized under the laws of France,
Germany, The Netherlands, Switzerland or the United Kingdom, (y) is entitled on the date it
acquires any Participation to a complete exemption from United States federal income taxes
for all income derived by it from the transactions contemplated by the Operative Agreements
under an income tax treaty, as in effect on such date, between the United States and such
jurisdiction of its organization and (z) is engaged in the active conduct of a banking
business in such jurisdiction of its organization, holds its Participation in connection
with such banking business in such jurisdiction and is regulated as a commercial banking
institution by the appropriate regulatory authorities in such jurisdiction; or

     (3) a commercial banking institution that (x) is organized under the laws of Canada,
France, Germany, Ireland, Japan, Luxembourg, The Netherlands, Sweden, Switzerland or the
United Kingdom and (y) is entitled on the date it acquires any Participation to a complete
exemption from withholding of United States federal income taxes for all income derived by
it from the transactions contemplated by the Operative Agreements under laws as in effect on
such date by reason of such income being effectively connected with the conduct of a trade
or business within the United States.

     “Prospectus Supplement” means the Prospectus Supplement dated June 28, 2010, relating to the
Class A Certificates, as such Prospectus Supplement may be amended or supplemented.

     “Provider Advance” means a Downgrade Advance or a Non-Extension Advance.

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     “Rate Determination Notice” has the meaning specified in Section 3.07(g).

     “Reference Banks” means the principal London offices of: Barclays Bank plc; Citibank, N.A. and
Natixis; and such other or additional banking institutions as may be designated from time to time
by mutual agreement of Delta and the Liquidity Provider.

     “Regulatory Change” means (x) the enactment, adoption or promulgation, after the date of this
Agreement, of any law or regulation by a United States federal or state government or by any
government having jurisdiction over the Liquidity Provider, or any change, after the date of this
Agreement, in any such law or regulation, or in the interpretation thereof by any governmental
authority, central bank or comparable agency of the United States or any government having
jurisdiction over the Liquidity Provider charged with responsibility for the administration or
application thereof, that shall impose, modify or deem applicable, or (y) the compliance by the
Liquidity Provider (or its head office) with any applicable direction or requirement (whether or
not having the force of law) of any central bank or competent governmental or other authority,
after the date of this Agreement, with respect to: (a) any reserve, special deposit or similar
requirement against extensions of credit or other assets of, or deposits with or other liabilities
of, the Liquidity Provider including, or by reason of, the Advances, or (b) any capital adequacy
requirement requiring the maintenance by the Liquidity Provider of additional capital in respect of
any Advances or the Liquidity Provider’s obligation to make any such Advances or (c) any Taxes
(other than Excluded Taxes) with respect to the amounts payable or paid to the Liquidity Provider
or any change in the basis of taxation of any amounts payable to the Liquidity Provider (other than
in respect of Excluded Taxes).

     “Replenishment Amount” has the meaning specified in Section 2.06(b).

     “Required Amount” means, for any day, the sum of the aggregate amount of interest, calculated
at the rate per annum equal to the Stated Interest Rate for the Class A Certificates on the basis
of a 360-day year comprised of twelve 30-day months, that would be payable on the Class A
Certificates on each of the three successive semiannual Regular Distribution Dates immediately
following such day or, if such day is a Regular Distribution Date, on such day and the succeeding
two semiannual Regular Distribution Dates, in each case calculated on the basis of the Pool Balance
of the Class A Certificates on such day and without regard to expected future distributions of
principal on the Class A Certificates.

     “Special Termination Advance” means an Advance made pursuant to Section 2.02(d), other than
any portion of such Advance that becomes an Applied Special Termination Advance.

     “Special Termination Notice” means the Notice of Special Termination substantially in the form
of Annex VII to this Agreement.

     “Termination Date” means the earliest to occur of the following: (i) the Expiry Date;
(ii) the date on which the Borrower delivers to the Liquidity Provider a certificate, signed by a
Responsible Officer of the Borrower, certifying that all of the Class A Certificates have been paid
in full (or provision has been made for such payment in accordance with the Intercreditor Agreement
and the Class A Trust Agreement) or are otherwise no longer entitled to the benefits of this
Agreement; (iii) the date on which the Borrower delivers to the Liquidity Provider a

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certificate, signed by a Responsible Officer of the Borrower, certifying that a Replacement
Liquidity Facility has been substituted for this Agreement in full pursuant to Section 3.05(e) of
the Intercreditor Agreement; (iv) the fifth Business Day following the receipt by the Borrower of a
Termination Notice or a Special Termination Notice from the Liquidity Provider pursuant to Section
6.01(a) or 6.01(b), as applicable; and (v) the date on which no Advance is or may (including by
reason of reinstatement as herein provided) become available for a Borrowing hereunder.

     “Termination Notice” means the Notice of Termination substantially in the form of Annex VI to
this Agreement.

     “Unapplied Provider Advance” means any Provider Advance other than an Applied Provider
Advance.

     “Unpaid Advance” has the meaning specified in Section 2.05.

     For the purposes of this Agreement, the following terms shall have the respective meanings
specified in the Intercreditor Agreement:

     “Acceleration”, “Certificate”, “Class A Cash Collateral Account”, “Class A Certificates”,
“Class A Certificateholders”, “Class A Trust”, “Class A Trust Agreement”, “Class A Trustee”,
“Class B Certificates”, “Closing Date”, “Collection Account”, “Corporate Trust Office”, “Delta”,
“Delta Bankruptcy Event”, “Distribution Date”, “Dollars”, “Downgraded Facility”, “Equipment Notes”,
“Fee Letter”, “Final Legal Distribution Date”, “Indenture”, “Interest Payment Date”, “Investment
Earnings”, “Liquidity Facility”, “Loan Trustee”, “Long-Term Rating”, “Non-Extended Facility”,
“Operative Agreements”, “Participation Agreements”, “Performing Equipment Note”, “Person”, “Pool
Balance”, “Rating Agencies”, “Regular Distribution Date”, “Replacement Liquidity Facility”,
“Responsible Officer”, “Series A Equipment Notes”, “Scheduled Payment”, “Short-Term Rating”,
“Special Payment”, “Stated Interest Rate”, “Subordination Agent”, “Taxes”, “Threshold Rating”,
“Trust Agreement”, “Trustee”, “Underwriters”, “Underwriting Agreement”, and “United States”.

ARTICLE II

AMOUNT AND TERMS OF THE COMMITMENT

     Section 2.01 The Advances. The Liquidity Provider hereby irrevocably agrees, on the
terms and conditions hereinafter set forth, to make Advances to the Borrower from time to time on
any Business Day during the period from the Effective Date until 12:00 noon (New York City time) on
the Expiry Date (unless the obligations of the Liquidity Provider shall be earlier terminated in
accordance with the terms of Section 2.04(b)) in an aggregate amount at any time outstanding not to
exceed the Maximum Commitment.

     Section 2.02 Making of Advances. (a) Each Interest Advance shall be made by the
Liquidity Provider upon delivery to the Liquidity Provider of a written and completed Notice of
Borrowing in substantially the form of Annex I, signed by a Responsible Officer of the Borrower,
such Interest Advance to be in an amount not exceeding the Maximum Available

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Commitment at such time and used solely for the payment when due of interest with respect to
the Class A Certificates at the Stated Interest Rate therefor in accordance with Section 3.05(a)
and 3.05(b) of the Intercreditor Agreement. Each Interest Advance made hereunder shall
automatically reduce the Maximum Available Commitment and the amount available to be borrowed
hereunder by subsequent Advances by the amount of such Interest Advance (subject to reinstatement
as provided in the next sentence). Upon repayment to the Liquidity Provider in full or in part of
the amount of any Interest Advance made pursuant to this Section 2.02(a), together with accrued
interest thereon (as provided herein), the Maximum Available Commitment shall be reinstated by an
amount equal to the amount of such Interest Advance so repaid, but not to exceed the Maximum
Commitment; provided, however, that the Maximum Available Commitment shall not be
so reinstated at any time if (x) both a Performing Note Deficiency exists and a Liquidity Event of
Default shall have occurred and be continuing or (y) a Final Advance, a Downgrade Advance, a
Non-Extension Advance or a Special Termination Advance shall have occurred.

          (b) (i) A Non-Extension Advance shall be made by the Liquidity Provider if this Agreement is
not extended in accordance with Section 3.05(d) of the Intercreditor Agreement unless a Replacement
Liquidity Facility to replace this Agreement shall have been previously delivered to the Borrower
in accordance with said Section 3.05(d), upon delivery to the Liquidity Provider of a written and
completed Notice of Borrowing in substantially the form of Annex II, signed by a Responsible
Officer of the Borrower, in an amount equal to the Maximum Available Commitment at such time, and
shall be used to fund the Class A Cash Collateral Account in accordance with Sections 3.05(d) and
3.05(f) of the Intercreditor Agreement.

          (ii) A Downgrade Advance shall be made by the Liquidity Provider upon the occurrence of a
Downgrade Event (as provided for in Section 3.05(c) of the Intercreditor Agreement) unless a
Replacement Liquidity Facility to replace this Agreement shall have been previously delivered to
the Borrower in accordance with said Section 3.05(c), upon delivery to the Liquidity Provider of a
written and completed Notice of Borrowing in substantially the form of Annex III, signed by a
Responsible Officer of the Borrower, in an amount equal to the Maximum Available Commitment at such
time, and shall be used to fund the Class A Cash Collateral Account in accordance with Sections
3.05(c) and 3.05(f) of the Intercreditor Agreement.

          (c) A Final Advance shall be made by the Liquidity Provider following the receipt by the
Borrower of a Termination Notice from the Liquidity Provider pursuant to Section 6.01(a) upon
delivery to the Liquidity Provider of a written and completed Notice of Borrowing in substantially
the form of Annex IV, signed by a Responsible Officer of the Borrower, in an amount equal to the
Maximum Available Commitment at such time, and shall be used to fund the Class A Cash Collateral
Account (in accordance with Sections 3.05(f) and 3.05(i) of the Intercreditor Agreement).

          (d) A Special Termination Advance shall be made in a single Borrowing upon the receipt by the
Borrower of a Special Termination Notice from the Liquidity Provider pursuant to Section 6.01(b),
by delivery to the Liquidity Provider of a written and completed

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Notice of Borrowing in substantially the form of Annex V, signed by a Responsible Officer of
the Borrower, in an amount equal to the Maximum Available Commitment at such time, and shall be
used to fund the Class A Cash Collateral Account (in accordance with Section 3.05(f) and
Section 3.05(k) of the Intercreditor Agreement).

          (e) Each Borrowing shall be made by notice in writing (a “Notice of Borrowing”) in
substantially the form required by Section 2.02(a), 2.02(b), 2.02(c) or 2.02(d), as the case may
be, given by the Borrower to the Liquidity Provider. If a Notice of Borrowing is delivered by the
Borrower in respect of any Borrowing no later than 12:30 p.m. (New York City time) on a Business
Day, upon satisfaction of the conditions precedent set forth in Section 4.02 with respect to such
requested Borrowing, the Liquidity Provider shall make available to the Borrower, in accordance
with its payment instructions, the amount of such Borrowing in Dollars and immediately available
funds, before 4:00 p.m. (New York City time) on such Business Day or before 12:30 p.m. (New York
City time) on such later Business Day specified in such Notice of Borrowing. If a Notice of
Borrowing is delivered by the Borrower in respect of any Borrowing after 12:30 p.m. (New York City
time) on a Business Day, upon satisfaction of the conditions precedent set forth in Section 4.02
with respect to such requested Borrowing, the Liquidity Provider shall make available to the
Borrower, in accordance with its payment instructions, the amount of such Borrowing in Dollars and
immediately available funds, before 1:00 p.m. (New York City time) on the first Business Day next
following the day of receipt of such Notice of Borrowing or on such later Business Day specified by
the Borrower in such Notice of Borrowing. Payments of proceeds of a Borrowing shall be made by
wire transfer of immediately available funds to the Borrower in accordance with such wire transfer
instructions as the Borrower shall furnish from time to time to the Liquidity Provider for such
purpose. Each Notice of Borrowing shall be irrevocable and binding on the Borrower. Each Notice
of Borrowing shall be effective upon delivery of a copy thereof to the Liquidity Provider at the
address and in the manner specified in Section 7.02 hereof.

          (f) Upon the making of any Advance requested pursuant to a Notice of Borrowing in accordance
with the Borrower’s payment instructions, the Liquidity Provider shall be fully discharged of its
obligation hereunder with respect to such Notice of Borrowing, and the Liquidity Provider shall not
thereafter be obligated to make any further Advances hereunder in respect of such Notice of
Borrowing to the Borrower or to any other Person (including the Class A Trustee or any Class A
Certificateholder). If the Liquidity Provider makes an Advance requested pursuant to a Notice of
Borrowing before 12:00 noon (New York City time) on the second Business Day after the date of
payment specified in Section 2.02(e), the Liquidity Provider shall have fully discharged its
obligations hereunder with respect to such Advance and an event of default shall not have occurred
hereunder. Following the making of any Advance pursuant to Section 2.02(b), 2.02(c) or 2.02(d) to
fund the Class A Cash Collateral Account, the Liquidity Provider shall have no interest in or
rights to the Class A Cash Collateral Account, such Advance or any other amounts from time to time
on deposit in the Class A Cash Collateral Account; provided that the foregoing shall not
affect or impair the obligations of the Subordination Agent to make the distributions contemplated
by Section 3.05(e) or 3.05(f) of the Intercreditor Agreement. By paying to the Borrower proceeds
of Advances requested by the Borrower in accordance with the provisions of this Agreement, the
Liquidity Provider makes no

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representation as to, and assumes no responsibility for, the correctness or sufficiency for
any purpose of the amount of the Advances so made and requested.

     Section 2.03 Fees. The Borrower agrees to pay to the Liquidity Provider the fees set
forth in the Fee Letter.

     Section 2.04 Reduction or Termination of the Maximum Commitment. (a) Automatic
Reduction. Promptly following each date on which the Required Amount is reduced as a result of
a reduction in the Pool Balance of the Class A Certificates, the Maximum Commitment shall
automatically be reduced to an amount equal to such reduced Required Amount (as calculated by the
Borrower). The Borrower shall give notice of any such automatic reduction of the Maximum
Commitment to the Liquidity Provider and Delta within two Business Days thereof. The failure by
the Borrower to furnish any such notice shall not affect any such automatic reduction of the
Maximum Commitment.

          (b) Termination. Upon the making of any Provider Advance, Special Termination Advance
or Final Advance hereunder or the occurrence of the Termination Date, the obligation of the
Liquidity Provider to make further Advances hereunder shall automatically and irrevocably
terminate, and the Borrower shall not be entitled to request any further Borrowing hereunder.

     Section 2.05 Repayments of Interest Advances, the Special Termination Advance or the Final
Advance. Subject to Sections 2.06, 2.07 and 2.09 hereof, the Borrower hereby agrees, without
notice of an Advance or demand for repayment from the Liquidity Provider (which notice and demand
are hereby waived by the Borrower), to pay, or to cause to be paid, to the Liquidity Provider
(a) on each date on which the Liquidity Provider shall make an Interest Advance, the Special
Termination Advance or the Final Advance, an amount equal to the amount of such Advance (any such
Advance, until repaid, is referred to herein as an “Unpaid Advance”), plus (b) interest on the
amount of each such Unpaid Advance in the amounts and on the dates determined as provided in
Section 3.07; provided that if (i) the Liquidity Provider shall make a Provider Advance at
any time after making one or more Interest Advances which shall not have been repaid in accordance
with this Section 2.05 or (ii) this Liquidity Facility shall become a Downgraded Facility or
Non-Extended Facility at any time when unreimbursed Interest Advances have reduced the Maximum
Available Commitment to zero, then such Interest Advances shall cease to constitute Unpaid Advances
and shall be deemed to have been changed into an Applied Downgrade Advance or an Applied
Non-Extension Advance, as the case may be, for all purposes of this Agreement (including, without
limitation, for the purpose of determining when such Interest Advance is required to be repaid to
the Liquidity Provider in accordance with Section 2.06 and for the purposes of Section 2.06(b));
provided, further, that amounts in respect of a Special Termination Advance
withdrawn from the Class A Cash Collateral Account for the purpose of paying interest on the Class
A Certificates in accordance with Section 3.05(f) of the Intercreditor Agreement (the portion of
the outstanding Special Termination Advance equal to the amount of any such withdrawal, but not in
excess of the outstanding Special Termination Advance, being an “Applied Special Termination
Advance”) shall thereafter (subject to Section 2.06(b)) be treated as an Interest Advance under
this Agreement for purposes of determining the Applicable Liquidity Rate for interest payable
thereon; and provided, further,

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that if, following the making of a Special Termination Advance, the Liquidity Provider
delivers a Termination Notice to the Borrower pursuant to Section 6.01(a), such Special Termination
Advance (including any portion thereof that is an Applied Special Termination Advance) shall
thereafter be treated as a Final Advance under this Agreement for purposes of determining the
Applicable Liquidity Rate for interest payable thereon. The Borrower and the Liquidity Provider
agree that the repayment in full of each Interest Advance, Special Termination Advance and Final
Advance on the date such Advance is made is intended to be a contemporaneous exchange for new value
given to the Borrower by the Liquidity Provider. For the avoidance of doubt, interest payable on
an Interest Advance, Special Termination Advance or the Final Advance shall not be regarded as
overdue unless such interest is not paid when due under Section 3.07.

     Section 2.06 Repayments of Provider Advances. (a) Amounts advanced hereunder in
respect of a Provider Advance shall be deposited in the Class A Cash Collateral Account and
invested and withdrawn from the Class A Cash Collateral Account as set forth in Sections 3.05(c),
3.05(d), 3.05(e) and 3.05(f) of the Intercreditor Agreement. Subject to Sections 2.07 and 2.09,
the Borrower agrees to pay to the Liquidity Provider, on each Regular Distribution Date, commencing
on the first Regular Distribution Date after the making of a Provider Advance, interest on the
principal amount of any such Provider Advance, in the amounts determined as provided in Section
3.07; provided, however, that amounts in respect of a Provider Advance withdrawn
from the Class A Cash Collateral Account for the purpose of paying interest on the Class A
Certificates in accordance with Section 3.05(f) of the Intercreditor Agreement (the amount of any
such withdrawal being (y), in the case of a Downgrade Advance, an “Applied Downgrade Advance” and
(z) in the case of a Non-Extension Advance, an “Applied Non-Extension Advance” and together with an
Applied Downgrade Advance, an “Applied Provider Advance”) shall thereafter (subject to Section
2.06(b)) be treated as an Interest Advance under this Agreement for purposes of determining the
Applicable Liquidity Rate for interest payable thereon; provided, further,
however, that if, following the making of a Provider Advance, the Liquidity Provider
delivers a Termination Notice to the Borrower pursuant to Section 6.01(a), such Provider Advance
shall thereafter be treated as a Final Advance under this Agreement for purposes of determining the
Applicable Liquidity Rate for interest payable thereon. Subject to Sections 2.07 and 2.09,
immediately upon the withdrawal of any amounts from the Class A Cash Collateral Account on account
of a reduction in the Required Amount, the Borrower shall repay to the Liquidity Provider a portion
of the Provider Advances in a principal amount equal to such reduction, plus interest on the
principal amount so repaid as provided in Section 3.07.

          (b) At any time when an Applied Provider Advance or Applied Special Termination Advance (or
any portion thereof) is outstanding, upon the deposit in the Class A Cash Collateral Account of any
amount pursuant to clause “fourth” of Section 3.02 of the Intercreditor Agreement (any such amount
being a “Replenishment Amount”) for the purpose of replenishing or increasing the balance thereof
up to the Required Amount at such time, (i) the aggregate outstanding principal amount of all
Applied Provider Advances and Applied Special Termination Advances (and of Provider Advances and
Special Termination Advances treated as Interest Advances for purposes of determining the
Applicable Liquidity Rate for interest payable thereon) shall be automatically reduced by the
amount of such Replenishment Amount, and (ii) the aggregate outstanding principal amount of all
Unapplied Provider Advances shall be automatically increased by the amount of such Replenishment
Amount.

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          (c) Upon the provision of a Replacement Liquidity Facility in replacement of this Agreement in
accordance with Section 3.05(e) of the Intercreditor Agreement, as provided in Section 3.05(f) of
the Intercreditor Agreement, amounts remaining on deposit in the Class A Cash Collateral Account
after giving effect to any Applied Provider Advance on the date of such replacement shall be
reimbursed to the Liquidity Provider, but only to the extent such amounts are necessary to repay in
full to the Liquidity Provider all amounts owing to it hereunder.

     Section 2.07 Payments to the Liquidity Provider Under the Intercreditor Agreement. In
order to provide for payment or repayment to the Liquidity Provider of any amounts hereunder, the
Intercreditor Agreement provides that amounts available and referred to in Articles II and III of
the Intercreditor Agreement, to the extent payable to the Liquidity Provider pursuant to the terms
of the Intercreditor Agreement (including, without limitation, Section 3.05(f) of the Intercreditor
Agreement), shall be paid to the Liquidity Provider in accordance with the terms thereof (but, for
the avoidance of doubt, without duplication of or increase in any amounts payable hereunder).
Amounts so paid to the Liquidity Provider shall be applied by the Liquidity Provider in the order
of priority required by the applicable provisions of Articles II and III of the Intercreditor
Agreement and shall discharge in full the corresponding obligations of the Borrower hereunder.

     Section 2.08 Book Entries. The Liquidity Provider shall maintain in accordance with
its usual practice an account or accounts evidencing the indebtedness of the Borrower resulting
from Advances made from time to time and the amounts of principal and interest payable hereunder
and paid from time to time in respect thereof; provided, however, that the failure
by the Liquidity Provider to maintain such account or accounts shall not affect the obligations of
the Borrower in respect of Advances.

     Section 2.09 Payments from Available Funds Only. All payments to be made by the
Borrower under this Agreement shall be made only from the amounts that constitute Scheduled
Payments, Special Payments and other payments under the Operative Agreements, including payment
under Section 4.02 of the Participation Agreements and payments under Section 2.14 of the
Indentures, and only to the extent that the Borrower shall have sufficient income or proceeds
therefrom to enable the Borrower to make payments in accordance with the terms hereof after giving
effect to the priority of payments provisions set forth in the Intercreditor Agreement. The
Liquidity Provider agrees that it will look solely to such amounts to the extent available for
distribution to it as provided in the Intercreditor Agreement and this Agreement and that the
Borrower, in its individual capacity, is not personally liable to it for any amounts payable or
liability under this Agreement except as expressly provided in this Agreement, the Intercreditor
Agreement or any Participation Agreement. Amounts on deposit in the Class A Cash Collateral
Account shall be available to the Borrower to make payments under this Agreement only to the extent
and for the purposes expressly contemplated in Section 3.05(f) of the Intercreditor Agreement.

     Section 2.10 Extension of the Expiry Date; Non-Extension Advance. No earlier than the
60th day and no later than the 40th day prior to the then effective Expiry Date (unless such Expiry
Date is on or after the date that is 15 days after the Final Legal Distribution Date for the Class
A Certificates), the Borrower shall request that the Liquidity Provider extend the Expiry

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Date to the earlier of (i) the date that is 15 days after the Final Legal Distribution Date
for the Class A Certificates and (ii) the date that is the day immediately preceding the 364th day
occurring after the last day of the Consent Period (as hereinafter defined). Whether or not the
Borrower has made such request, the Liquidity Provider shall advise the Borrower no earlier than
the 40th day (or, if earlier, the date of the Liquidity Provider’s receipt of such request, if any,
from the Borrower) and no later than the 25th day prior to the then effective Expiry Date (such
period, the “Consent Period”), whether, in its sole discretion, it agrees to so extend the Expiry
Date. If the Liquidity Provider advises the Borrower on or before the date on which the Consent
Period ends that such Expiry Date shall not be so extended, or fails to irrevocably and
unconditionally advise the Borrower on or before the date on which the Consent Period ends that
such Expiry Date shall be so extended (and, in each case, if the Liquidity Provider shall not have
been replaced in accordance with Section 3.05(e) of the Intercreditor Agreement), the Borrower
shall be entitled on and after the date on which the Consent Period ends (but prior to the then
effective Expiry Date) to request a Non-Extension Advance in accordance with Section 2.02(b)(i) and
Section 3.05(d) of the Intercreditor Agreement.

ARTICLE III

OBLIGATIONS OF THE BORROWER

     Section 3.01 Increased Costs. Without duplication of any rights created by Section
3.03, if as a result of any Regulatory Change there shall be any increase by an amount reasonably
deemed by the Liquidity Provider to be material in the actual cost to the Liquidity Provider of
making, funding or maintaining any LIBOR Advances or its obligation to make any such LIBOR Advances
or there shall be any reduction by an amount reasonably deemed by the Liquidity Provider to be
material in the amount receivable by the Liquidity Provider under this Agreement or the
Intercreditor Agreement in respect thereof, and in case of either such an increase or reduction,
such event does not arise from the gross negligence or willful misconduct of the Liquidity
Provider, from its breach of any of its representations, warranties, covenants or agreements
contained herein or in the Intercreditor Agreement or from its failure to comply with any such
Regulatory Change (any such increase or reduction being referred to herein as an “Increased Cost”),
then, subject to Sections 2.07 and 2.09, the Borrower shall from time to time pay to the Liquidity
Provider an amount equal to such Increased Cost within 10 Business Days after delivery to the
Borrower and Delta of a certificate of an officer of the Liquidity Provider describing in
reasonable detail the event by reason of which it claims such Increased Cost and the basis for the
determination of the amount of such Increased Cost; provided that the Borrower shall be
obligated to pay amounts only with respect to any Increased Costs accruing from the date 120 days
prior to the date of delivery of such certificate. Such certificate, in the absence of manifest
error, shall be considered prima facie evidence of the amount of the Increased Costs for purposes
of this Agreement; provided that any determinations and allocations by the Liquidity
Provider of the effect of any Regulatory Change on the costs of maintaining the Advances are made
on a reasonable basis. For the avoidance of doubt, the Liquidity Provider shall not be entitled to
assert any claim under this Section 3.01 in respect of or attributable to Excluded Taxes. The
Liquidity Provider will notify the Borrower and Delta as promptly as practicable of any event
occurring after the date of this Agreement that will entitle the Liquidity Provider to compensation
under this Section 3.01. The Liquidity Provider agrees to investigate all

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commercially reasonable alternatives for reducing any Increased Costs and to use all
commercially reasonable efforts to avoid or minimize, to the greatest extent possible, any claim in
respect of Increased Costs, including, without limitation, by designating a different Lending
Office, if such designation or other action would avoid the need for, or reduce the amount of, any
such claim; provided that the foregoing shall not obligate the Liquidity Provider to take
any action that would, in its reasonable judgment, cause the Liquidity Provider to take any action
that is not materially consistent with its internal policies or is otherwise materially
disadvantageous to the Liquidity Provider or that would cause the Liquidity Provider to incur any
material loss or cost, unless the Borrower or Delta agrees to reimburse or indemnify the Liquidity
Provider therefor. If no such designation or other action is effected, or, if effected, such
notice fails to avoid the need for any claim in respect of Increased Costs, Delta may arrange for a
Replacement Liquidity Facility in accordance with Section 3.05(e) of the Intercreditor Agreement.

     Notwithstanding the foregoing provisions, in no event shall the Borrower be required to make
payments under this Section 3.01: (a) in respect of any Regulatory Change proposed by any
applicable governmental authority (including any branch of a legislature), central bank or
comparable agency of the United States or the Liquidity Provider’s jurisdiction of organization or
in which its Lending Office is located and pending as of the date of this Agreement; (b) if a claim
hereunder in respect of an Increased Cost arises through circumstances peculiar to the Liquidity
Provider and that do not affect similarly organized commercial banking institutions in the same
jurisdiction generally that are in compliance with the law, rule, regulation or interpretation
giving rise to the Regulatory Change relating to such Increased Cost; (c) if the Liquidity Provider
shall fail to comply with its obligations under this Section 3.01 or (d) if the Liquidity Provider
is not also seeking payment for similar increased costs in other similarly situated transactions
related to the airline industry.

     Section 3.02 Intentionally omitted.

     Section 3.03 Withholding Taxes. (a) All payments made by the Borrower under this
Agreement shall be made without deduction or withholding for or on account of any Taxes, unless
such deduction or withholding is required by law. If any Taxes are so required to be withheld or
deducted from any amounts payable to the Liquidity Provider under this Agreement, then, subject to
Sections 2.07 and 2.09, the Borrower shall pay to the relevant authorities the full amount so
required to be deducted or withheld and, without duplication of any rights created by Section 3.01,
if such Taxes are Covered Taxes, pay to the Liquidity Provider such additional amounts as shall be
necessary to ensure that the net amount actually received by the Liquidity Provider (after
deduction or withholding of all Covered Taxes) shall be equal to the full amount that would have
been received by the Liquidity Provider had no withholding or deduction of Covered Taxes been
required. The Liquidity Provider agrees to use reasonable efforts (consistent with applicable
legal and regulatory restrictions) to change the jurisdiction of its Lending Office if making such
change would avoid the need for, or reduce the amount of, any such additional amounts that may
thereafter accrue and would not, in the reasonable judgment of the Liquidity Provider, be otherwise
materially disadvantageous to the Liquidity Provider. If the Liquidity Provider receives a refund
of, or realizes a net Tax benefit not otherwise available to it as a result of, any Taxes for which
additional amounts were paid by the Borrower pursuant to

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this Section 3.03, the Liquidity Provider shall pay to the Borrower (for deposit into the
Collection Account) the amount of such refund (and any interest thereon) or net benefit.

     The Liquidity Provider will (i) provide (on its behalf and on behalf of any participant
holding a Participation pursuant to Section 7.08) to the Borrower (x) on or prior to the Effective
Date two valid completed and executed copies of Internal Revenue Service Form W-8BEN or W-8ECI
(whichever is applicable), including thereon a valid U.S. taxpayer identification number (or, with
respect to any such participant, such other form or documentation as may be applicable) covering
all amounts receivable by it in connection with the transactions contemplated by the Operative
Agreements and (y) thereafter from time to time such additional forms or documentation as may be
necessary to establish an available exemption from withholding of United States Tax on payments
hereunder so that such forms or documentation are effective for all periods during which it is the
Liquidity Provider and (ii) provide timely notice to the Borrower if any such form or documentation
is or becomes inaccurate. The Liquidity Provider shall deliver to the Borrower such other forms or
documents as may be reasonably requested by the Borrower or required by applicable law to establish
that payments hereunder are exempt from or entitled to a reduced rate of Covered Taxes.

          (b) All payments (including, without limitation, Advances) made by the Liquidity Provider
under this Agreement shall be made free and clear of, and without reduction for or on account of,
any Taxes. If any Taxes are required to be withheld or deducted from any amounts payable to the
Borrower under this Agreement, the Liquidity Provider shall (i) within the time prescribed therefor
by applicable law pay to the appropriate governmental or taxing authority the full amount of any
such Taxes (and any additional Taxes in respect of the additional amounts payable under clause (ii)
hereof) and make such reports or returns in connection therewith at the time or times and in the
manner prescribed by applicable law, and (ii) pay to the Borrower an additional amount which (after
deduction of all such Taxes) will be sufficient to yield to the Borrower the full amount which
would have been received by it had no such withholding or deduction been made. Within 30 days
after the date of each payment hereunder, the Liquidity Provider shall furnish to the Borrower the
original or a certified copy of (or other documentary evidence of) the payment of the Taxes
applicable to such payment.

     If any exemption from, or reduction in the rate of, any Taxes required to be borne by the
Liquidity Provider under this Section 3.03(b) is reasonably available to the Borrower without
providing any information regarding the holders or beneficial owners of the Certificates, the
Borrower shall deliver the Liquidity Provider such form or forms and such other evidence of the
eligibility of the Borrower for such exemption or reductions (but without any requirement to
provide any information regarding the holders or beneficial owners of the Certificates) as the
Liquidity Provider may reasonably identify to the Borrower as being required as a condition to
exemption from, or reduction in the rate of, such Taxes.

     Section 3.04 Payments. Subject to Sections 2.07 and 2.09, the Borrower shall make or
cause to be made each payment to the Liquidity Provider under this Agreement so as to cause the
same to be received by the Liquidity Provider not later than 1:00 p.m. (New York City time) on the
day when due. The Borrower shall make all such payments in Dollars, to the Liquidity Provider in
immediately available funds, by wire transfer to the account of Natixis S.A., acting

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via its New York Branch, [       ]; or to such other U.S. bank account as the Liquidity
Provider may from time to time direct the Subordination Agent.

     Section 3.05 Computations. All computations of interest based on the Base Rate shall
be made on the basis of a year of 365 or 366 days, as the case may be, and all computations of
interest based on the LIBOR Rate shall be made on the basis of a year of 360 days, in each case for
the actual number of days (including the first day but excluding the last day) occurring in the
period for which such interest is payable.

     Section 3.06 Payment on Non-Business Days. Whenever any payment to be made hereunder
shall be stated to be due on a day other than a Business Day, such payment shall be made on the
next succeeding Business Day and no additional interest shall be due as a result (and if so made,
shall be deemed to have been made when due). If any payment in respect of interest on an Advance
is so deferred to the next succeeding Business Day, such deferral shall not delay the commencement
of the next Interest Period for such Advance (if such Advance is a LIBOR Advance) or reduce the
number of days for which interest will be payable on such Advance on the next Interest Payment Date
for such Advance.

     Section 3.07 Interest. (a) Subject to Sections 2.07 and 2.09, the Borrower shall
pay, or shall cause to be paid, without duplication, interest on (i) the unpaid principal amount of
each Advance from and including the date of such Advance (or, in the case of an Applied Provider
Advance or Applied Special Termination Advance, from and including the date on which the amount
thereof was withdrawn from the Class A Cash Collateral Account to pay interest on the Class A
Certificates) to but excluding the date such principal amount shall be paid in full (or, in the
case of an Applied Provider Advance or Applied Special Termination Advance, the date on which the
Class A Cash Collateral Account is fully replenished in respect of such Advance) and (ii), to the
extent permitted by law, any other amount due hereunder (whether fees, commissions, expenses or
other amounts or installments of interest on Advances or any such other amount) that is not paid
when due (whether at stated maturity, by acceleration or otherwise) from and including the due date
thereof to but excluding the date such amount is paid in full, in each such case, at the interest
rate per annum for each day that such amount remains overdue and unpaid equal to the Applicable
Liquidity Rate for such Advance or such other amount, as the case may be, as in effect for such
day, but in no event in any case referred to in clause (i) or (ii) above at a rate per annum
greater than the maximum rate permitted by applicable law; provided, however, that,
if at any time the otherwise applicable interest rate as set forth in this Section 3.07 shall
exceed the maximum rate permitted by applicable law, then to the maximum extent permitted by
applicable law any subsequent reduction in such interest rate will not reduce the rate of interest
payable pursuant to this Section 3.07 below the maximum rate permitted by applicable law until the
total amount of interest accrued equals the absolute amount of interest that would have accrued
(without additional interest thereon) if such otherwise applicable interest rate as set forth in
this Section 3.07 had at all relevant times been in effect.

          (b) Except as provided in Section 3.07(e), each Advance will be either a Base Rate Advance or
a LIBOR Advance as provided in this Section 3.07. Each such Advance will be a Base Rate Advance
for the period from the date of its borrowing to (but excluding) the third Business Day following
the Liquidity Provider’s receipt of the Notice of Borrowing for such

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Advance. Thereafter, such Advance shall be a LIBOR Advance; provided that a Provider
Advance shall always be a LIBOR Advance unless the Borrower elects otherwise.

          (c) Each LIBOR Advance shall bear interest during each Interest Period at a rate per annum
equal to the LIBOR Rate for such Interest Period plus the Applicable Margin for such LIBOR Advance,
payable in arrears on the last day of such Interest Period and, in the event of the payment of
principal of such LIBOR Advance on a day other than such last day, on the date of such payment (to
the extent of interest accrued on the amount of principal repaid.

          (d) Each Base Rate Advance shall bear interest at a rate per annum equal to the Base Rate plus
the Applicable Margin for such Base Rate Advance, payable in arrears on each Regular Distribution
Date and, in the event of the payment of principal of such Base Rate Advance on a day other than a
Regular Distribution Date, on the date of such payment (to the extent of interest accrued on the
amount of principal repaid).

          (e) Each outstanding Unapplied Non-Extension Advance shall bear interest in an amount equal to
the Investment Earnings plus the Applicable Margin on amounts on deposit in the Class A Cash
Collateral Account for such Unapplied Non-Extension Advance on the amount of such Unapplied
Non-Extension Advance, from time to time, payable in arrears on each Regular Distribution Date.

          (f) Each amount not paid when due hereunder (whether fees, commissions, expenses or other
amounts or installments of interest on Advances but excluding Advances) shall bear interest, to the
extent permitted by applicable law, at a rate per annum equal to the Base Rate plus 2.0% per annum
until paid.

          (g) If at any time, the Liquidity Provider shall have determined (which determination shall be
conclusive and binding upon the Borrower, absent manifest error) that, by reason of circumstances
affecting the relevant interbank lending market generally, the LIBOR Rate determined or to be
determined for such Interest Period will not adequately and fairly reflect the cost to the
Liquidity Provider (as conclusively certified by the Liquidity Provider, absent manifest error) of
making or maintaining Advances, the Liquidity Provider shall give facsimile or telephonic notice
thereof (a “Rate Determination Notice”) to the Borrower. If such notice is given, then the
outstanding principal amount of the LIBOR Advances shall be converted to Base Rate Advances
effective from the date of the Rate Determination Notice; provided that the Applicable
Liquidity Rate in respect of such Base Rate Advances shall be increased by one per cent (1.00%).
The Liquidity Provider shall withdraw a Rate Determination Notice given hereunder when the
Liquidity Provider determines that the circumstances giving rise to such Rate Determination Notice
no longer apply to the Liquidity Provider, and the Base Rate Advances shall be converted to LIBOR
Advances effective as the first day of the next succeeding Interest Period after the date of such
withdrawal. Each change in the Base Rate shall become effective immediately. The rates of interest
specified in this Section 3.07 with respect to any Advance or other amount shall be referred to as
the “Applicable Liquidity Rate”.

     Section 3.08 Replacement of Borrower. Subject to Section 5.02, from time to time and
subject to the successor Borrower’s meeting the eligibility requirements set forth in Section 6.09
of the Intercreditor Agreement applicable to the Subordination Agent, upon the effective date

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and time specified in a written and completed Notice of Replacement Subordination Agent in
substantially the form of Annex VIII (a “Notice of Replacement Subordination Agent”) delivered to
the Liquidity Provider by the then Borrower, the successor Borrower designated therein shall become
the Borrower for all purposes hereunder.

     Section 3.09 Funding Loss Indemnification. The Borrower shall pay to the Liquidity
Provider, upon the request of the Liquidity Provider, such amount or amounts as shall be sufficient
(in the reasonable opinion of the Liquidity Provider) to compensate it for any loss, cost or
expense incurred by reason of the liquidation or redeployment of deposits or other funds acquired
by the Liquidity Provider to fund or maintain any LIBOR Advance (but excluding loss of the
Applicable Margin or anticipated profits) incurred as a result of:

     (1) Any repayment of a LIBOR Advance on a date other than the last day of the Interest
Period for such Advance; or

     (2) Any failure by the Borrower to borrow a LIBOR Advance on the date for borrowing
specified in the relevant notice under Section 2.02.

     Section 3.10 Illegality. Notwithstanding any other provision in this Agreement, if
any change in any law, rule or regulation applicable to or binding on the Liquidity Provider, or
any change in the interpretation or administration thereof by any governmental authority, central
bank or comparable agency charged with the interpretation or administration thereof, or compliance
by the Liquidity Provider with any request or directive (whether or not having the force of law) of
any such authority, central bank or comparable agency shall make it unlawful or impossible for the
Liquidity Provider to maintain or fund its LIBOR Advances, then upon notice to the Borrower and
Delta by the Liquidity Provider, the outstanding principal amount of the LIBOR Advances shall be
converted to Base Rate Advances (a) immediately upon demand of the Liquidity Provider, if such
change or compliance with such request, in the reasonable judgment of the Liquidity Provider,
requires immediate conversion; or (b) at the expiration of the last Interest Period to expire
before the effective date of any such change or request. The Liquidity Provider will notify the
Borrower and Delta as promptly as practicable of any event that will or to its knowledge is
reasonably likely to lead to the conversion of LIBOR Advances to Base Rate Advances under this
Section 3.10; provided that a failure by the Liquidity Provider to notify the Borrower or
Delta of an event that is reasonably likely to lead to such a conversion prior to the time that it
is determined that such event will lead to such a conversion shall not prejudice the rights of the
Liquidity Provider under this Section 3.10. The Liquidity Provider agrees to investigate all
commercially reasonable alternatives for avoiding the need for such conversion, including, without
limitation, designating a different Lending Office, if such designation or other action would avoid
the need to convert such LIBOR Advances to Base Rate Advances; provided that the foregoing
shall not obligate the Liquidity Provider to take any action that would, in its reasonable
judgment, cause the Liquidity Provider to incur any material loss or cost, unless the Borrower or
Delta agrees to reimburse or indemnify the Liquidity Provider therefor. If no such designation or
other action is effected, or, if effected, fails to avoid the need for conversion of the LIBOR
Advances to Base Rate Advances, Delta may arrange for a Replacement Liquidity Facility in
accordance with Section 3.05(e) of the Intercreditor Agreement.

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ARTICLE IV

CONDITIONS PRECEDENT

     Section 4.01 Conditions Precedent to Effectiveness of Section 2.01. Section 2.01 of
this Agreement shall become effective on and as of the first date (the “Effective Date”) on which
the following conditions precedent have been satisfied (or waived by the appropriate party or
parties):

          (a) The Liquidity Provider shall have received on or before the Closing Date each of the
following, and in the case of each document delivered pursuant to paragraphs (i), (ii) and (iii),
each in form and substance satisfactory to the Liquidity Provider:

          (i) This Agreement and the Fee Letter duly executed on behalf of the Borrower and, in
the case of the Fee Letter, Delta;

          (ii) The Intercreditor Agreement duly executed on behalf of each of the parties thereto
(other than the Liquidity Provider);

          (iii) Fully executed copies of each of the Operative Agreements executed and delivered
on or before the Closing Date (other than this Agreement, the Fee Letter and the
Intercreditor Agreement);

          (iv) A copy of the Prospectus Supplement and specimen copies of the Class A
Certificates;

          (v) An executed copy of each opinion (other than the negative assurance letters of the
Vice President — Deputy General Counsel of Delta and of Kilpatrick Stockton LLP, special
counsel to Delta and the opinion and the negative assurance letter of Shearman & Sterling
LLP, special counsel to the Underwriters) delivered on the Closing Date pursuant to the
Underwriting Agreement (in the case of each such opinion, either addressed to the Liquidity
Provider or accompanied by a letter from the counsel rendering such opinion to the effect
that the Liquidity Provider is entitled to rely on such opinion as of its date as if it were
addressed to the Liquidity Provider); 

          (vi) An executed copy of each document, instrument, certificate and opinion delivered
on or before the Closing Date pursuant to the Class A Trust Agreement, the Intercreditor
Agreement and the other Operative Agreements (in the case of each such opinion, either
addressed to the Liquidity Provider or accompanied by a letter from the counsel rendering
such opinion to the effect that the Liquidity Provider is entitled to rely on such opinion
as of its date as if it were addressed to the Liquidity Provider); and

          (vii) An agreement from Delta, pursuant to which (x) Delta agrees to provide copies of
quarterly financial statements and audited annual financial statements to the Liquidity
Provider (which Delta may provide in an electronic format by electronic mail or making such
available over the internet) and (y) Delta agrees to allow the

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Liquidity Provider to discuss the transactions contemplated by the Operative
Agreements with officers and employees of Delta.

          (b) On and as of the Effective Date no event shall have occurred and be continuing, or would
result from the entering into of this Agreement or the making of any Advance, which constitutes a
Liquidity Event of Default.

          (c) The Liquidity Provider shall have received payment in full of the fees and other sums
required to be paid to or for the account of the Liquidity Provider on or prior to the Effective
Date pursuant to the Fee Letter.

          (d) All conditions precedent to the issuance of the Certificates under the Trust Agreements
shall have been satisfied or waived, all conditions precedent to the effectiveness of the other
Liquidity Facilities, if any, shall have been satisfied or waived, and all conditions precedent to
the purchase of the Class A Certificates by the Underwriters under the Underwriting Agreement shall
have been satisfied (unless any of such conditions precedent under the Underwriting Agreement shall
have been waived by the Underwriters).

          (e) The Borrower and Delta shall have received a certificate, dated the Effective Date signed
by a duly authorized representative of the Liquidity Provider, certifying that all conditions
precedent specified in this Section 4.01 have been satisfied or waived by the Liquidity Provider.

     Section 4.02 Conditions Precedent to Borrowing. The obligation of the Liquidity
Provider to make an Advance on the occasion of each Borrowing shall be subject to the conditions
precedent that the Effective Date shall have occurred and, prior to the time of such Borrowing, the
Borrower shall have delivered a Notice of Borrowing which conforms to the terms and conditions of
this Agreement.

ARTICLE V

COVENANTS

     Section 5.01 Affirmative Covenants of the Borrower. So long as any Advance shall
remain unpaid or the Liquidity Provider shall have any Maximum Commitment hereunder or the Borrower
shall have any obligation to pay any amount to the Liquidity Provider hereunder, the Borrower will,
unless the Liquidity Provider shall otherwise consent in writing:

          (a) Performance of Agreements. Subject to Sections 2.07 and 2.09, punctually pay or
cause to be paid all amounts payable by it under this Agreement and the Intercreditor Agreement and
observe and perform in all material respects the conditions, covenants and requirements applicable
to it contained in this Agreement and the Intercreditor Agreement.

          (b) Reporting Requirements. Furnish to the Liquidity Provider with reasonable
promptness, such other information and data with respect to the transactions contemplated by the
Operative Agreements as from time to time may be reasonably requested by

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the Liquidity Provider; and permit the Liquidity Provider, upon reasonable notice, to
inspect the Borrower’s books and records with respect to such transactions and to meet with
officers and employees of the Borrower to discuss such transactions.

          (c) Certain Operative Agreements. Furnish to the Liquidity Provider, with reasonable
promptness, copies of such Operative Agreements entered into after the date hereof as from time to
time may be reasonably requested by the Liquidity Provider.

     Section 5.02 Negative Covenants of the Borrower. Subject to the first and fourth
paragraphs of Section 7.01(a) of the Intercreditor Agreement and Section 7.01(b) of the
Intercreditor Agreement, so long as any Advance shall remain unpaid or the Liquidity Provider shall
have any Maximum Commitment hereunder or the Borrower shall have any obligation to pay any amount
to the Liquidity Provider hereunder, the Borrower will not appoint or permit or suffer to be
appointed any successor Borrower without the prior written consent of the Liquidity Provider, which
consent shall not be unreasonably withheld or delayed.

ARTICLE VI

LIQUIDITY EVENTS OF DEFAULT AND SPECIAL TERMINATION

     Section 6.01 Liquidity Events of Default. (a) If any Liquidity Event of Default has
occurred and is continuing and there is a Performing Note Deficiency, the Liquidity Provider may,
in its discretion, deliver to the Borrower a Termination Notice, the effect of which shall be to
cause (i) this Agreement to expire at the close of business on the fifth Business Day after the
date on which such Termination Notice is received by the Borrower, (ii) the Borrower to promptly
request, and the Liquidity Provider to promptly make, a Final Advance in accordance with Section
2.02(c) hereof and Section 3.05(i) of the Intercreditor Agreement, (iii) all other outstanding
Advances to be automatically converted into Final Advances for purposes of determining the
Applicable Liquidity Rate for interest payable thereon and (iv) subject to Sections 2.07 and 2.09,
all Advances, any accrued interest thereon and any other amounts outstanding hereunder to become
immediately due and payable to the Liquidity Provider.

          (b) If the aggregate Pool Balance of the Class A Certificates is greater than the aggregate
outstanding principal amount of the Series A Equipment Notes (other than any Series A Equipment
Notes previously sold by the Borrower or with respect to which the Aircraft related to such Series
A Equipment Notes has been disposed of by the Loan Trustee) at any time during the 18-month period
ending on July 2, 2018, the Liquidity Provider may, in its discretion, deliver to the Borrower a
Special Termination Notice, the effect of which shall be to cause (i) the obligation of the
Liquidity Provider to make Advances hereunder to terminate on the fifth Business Day after the date
on which such Special Termination Notice is received by the Borrower and Delta, (ii) the Borrower
to promptly request, and the Liquidity Provider to promptly make, a Special Termination Advance in
accordance with Section 2.02(d) hereof and Section 3.05(k) of the Intercreditor Agreement, and
(iii) subject to Sections 2.07 and 2.09, all Advances (including, without limitation, any Provider
Advance and Applied Provider Advance), to be automatically treated as Special Termination Drawings
(as defined in the Intercreditor Agreement).

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ARTICLE VII

MISCELLANEOUS

     Section 7.01 No Oral Modifications or Continuing Waivers. No terms or provisions of
this Agreement may be changed, waived, discharged or terminated orally, but only by an instrument
in writing signed by the Borrower and the Liquidity Provider and any other Person whose consent is
required pursuant to this Agreement; provided that no such change or other action shall
affect the payment obligations of Delta or the rights of Delta without Delta’s prior written
consent; and any waiver of the terms hereof shall be effective only in the specific instance and
for the specific purpose given.

     Section 7.02 Notices. Unless otherwise expressly specified or permitted by the terms
hereof, all notices, requests, demands, authorizations, directions, consents, waivers or documents
required or permitted under the terms and provisions of this Agreement shall be in English and in
writing, and given by United States registered or certified mail, courier service or facsimile, and
any such notice shall be effective when delivered (or, 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 such transmission was received) addressed as follows:

If to the Borrower, to:

U.S. BANK TRUST NATIONAL ASSOCIATION

One Federal Street, 3rd Floor

Boston, Massachusetts 02110

Attention: Corporate Trust Administration

Ref: Delta 2010-1A EETC

Telephone: (617) 603-6553

Telecopy: (617) 603-6683

If to the Liquidity Provider, to:

NATIXIS S.A., acting via its New York Branch

Attention: Lily Cheung

9 West 57th Street, 34th Floor

New York, New York 10019

Telephone: (212) 891-1948

Telecopy: (212) 891-1900

Lily.Cheung@us.natixis.com

and

NATIXIS S.A., acting via its New York Branch

Attention: Martha Sealy

1251 Avenue of the Americas

New York, New York 10020

Telephone: (212) 872-5031

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Telecopy: (347) 402-3031

Martha.Sealy@us.natixis.com

cc: Delta 2010_1_Report@us.natixis.com.

     Any party, by notice to the other party hereto, may designate additional or different
addresses for subsequent notices or communications. Whenever the words “notice” or “notify” or
similar words are used herein, they mean the provision of formal notice as set forth in this
Section 7.02.

     Section 7.03 No Waiver; Remedies. No failure on the part of the Liquidity Provider to
exercise, and no delay in exercising, any right under this Agreement shall operate as a waiver
thereof; nor shall any single or partial exercise of any right under this Agreement preclude any
other or further exercise thereof or the exercise of any other right. The remedies herein provided
are cumulative and not exclusive of any remedies provided by law.

     Section 7.04 Further Assurances. The Borrower agrees to do such further acts and
things and to execute and deliver to the Liquidity Provider such additional assignments,
agreements, powers and instruments as the Liquidity Provider may reasonably require or deem
advisable to carry into effect the purposes of this Agreement and the other Operative Agreements or
to better assure and confirm unto the Liquidity Provider its rights, powers and remedies hereunder
and under the other Operative Agreements.

     Section 7.05 Indemnification; Survival of Certain Provisions. The Liquidity Provider
shall be indemnified hereunder to the extent and in the manner described in Section 4.02 of the
Participation Agreements. In addition, the Borrower agrees to indemnify, protect, defend and hold
harmless each Liquidity Indemnitee from and against all Expenses of any kind or nature whatsoever
(other than any Expenses of the nature described in Sections 3.01, 3.03, 3.09 or 7.07 or in the Fee
Letter (regardless of whether indemnified against pursuant to said Sections or in such Fee
Letter)), that may be imposed on or incurred by such Liquidity Indemnitee, in any way relating to,
resulting from, or arising out of or in connection with, any action, suit or proceeding by any
third party against such Liquidity Indemnitee and relating to this Agreement, the Fee Letter, the
Intercreditor Agreement or any Participation Agreement; provided, however, that the
Borrower shall not be required to indemnify, protect, defend and hold harmless any Liquidity
Indemnitee in respect of any Expense of such Liquidity Indemnitee to the extent such Expense is
(i) attributable to the gross negligence or willful misconduct of such Liquidity Indemnitee or any
other Liquidity Indemnitee, (ii) an ordinary and usual operating overhead expense,
(iii) attributable to the failure by such Liquidity Indemnitee or any other Liquidity Indemnitee to
perform or observe any agreement, covenant or condition on its part to be performed or observed in
this Agreement, the Intercreditor Agreement, the Fee Letter or any other Operative Agreement to
which it is a party or (iv) otherwise excluded from the indemnification provisions contained in
Section 4.02 of the Participation Agreements. The provisions of Sections 3.01, 3.03, 3.09, 7.05
and 7.07 and the indemnities contained in Section 4.02 of the Participation Agreements shall
survive the termination of this Agreement.

     Section 7.06 Liability of the Liquidity Provider. (a) Neither the Liquidity Provider
nor any of its officers, employees or directors shall be liable or responsible for: (i) the use
which

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may be made of the Advances or any acts or omissions of the Borrower or any beneficiary
or transferee in connection therewith; (ii) the validity, sufficiency or genuineness of documents,
or of any endorsement thereon, even if such documents should prove to be in any or all respects
invalid, insufficient, fraudulent or forged; or (iii) the making of Advances by the Liquidity
Provider against delivery of a Notice of Borrowing and other documents which do not comply with the
terms hereof; provided, however, that the Borrower shall have a claim against the
Liquidity Provider, and the Liquidity Provider shall be liable to the Borrower, to the extent of
any damages suffered by the Borrower that were the result of (A) the Liquidity Provider’s willful
misconduct or gross negligence in determining whether documents presented hereunder comply with the
terms hereof or (B) any breach by the Liquidity Provider of any of the terms of this Agreement or
the Intercreditor Agreement, including, but not limited to, the Liquidity Provider’s failure to
make lawful payment hereunder after the delivery to it by the Borrower of a Notice of Borrowing
complying with the terms and conditions hereof.

          (b) Neither the Liquidity Provider nor any of its officers, employees or directors or
affiliates shall be liable or responsible in any respect for (i) any error, omission, interruption
or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in
connection with this Agreement or any Notice of Borrowing delivered hereunder or (ii) any action,
inaction or omission which may be taken by it in good faith, absent willful misconduct or
negligence (in which event the extent of the Liquidity Provider’s potential liability to the
Borrower shall be limited as set forth in the immediately preceding paragraph), in connection with
this Agreement or any Notice of Borrowing.

     Section 7.07 Certain Costs and Expenses. The Borrower agrees promptly to pay, or
cause to be paid, (a) the reasonable fees, expenses and disbursements of Pillsbury Winthrop Shaw
Pittman LLP, special counsel for the Liquidity Provider, in connection with the preparation,
negotiation, execution, delivery, filing and recording of the Operative Agreements, any waiver or
consent thereunder or any amendment thereof and (b) if a Liquidity Event of Default occurs, all
out-of-pocket expenses incurred by the Liquidity Provider, including reasonable fees and
disbursements of counsel, in connection with such Liquidity Event of Default and any collection,
bankruptcy, insolvency and other enforcement proceedings in connection therewith. In addition, the
Borrower shall pay any and all recording, stamp and other similar taxes and fees payable or
determined to be payable in the United States in connection with the execution, delivery, filing
and recording of this Agreement, any other Operative Agreement and such other documents, and agrees
to save the Liquidity Provider harmless from and against any and all liabilities with respect to or
resulting from any delay in paying or omission to pay such taxes or fees.

     Section 7.08 Binding Effect; Participations. (a) This Agreement shall be binding
upon and inure to the benefit of the Borrower and the Liquidity Provider and their respective
successors and permitted assigns, except that neither the Liquidity Provider (except as otherwise
provided in this Section 7.08) nor (except as contemplated by Section 3.08) the Borrower shall have
the right to assign, pledge or otherwise transfer its rights or obligations hereunder or any
interest herein, subject to the Liquidity Provider’s right to grant Participations pursuant to
Section 7.08(b).

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          (b) The Liquidity Provider agrees that it will not grant any participation (including,
without limitation, a “risk participation”) (any such participation, a “Participation”) in or to
all or a portion of its rights and obligations hereunder or under the other Operative Agreements,
unless all of the following conditions are satisfied: (i) such Participation is to a Permitted
Transferee, (ii) such Participation is made in accordance with all applicable laws, including,
without limitation, the Securities Act of 1933, as amended, the Trust Indenture Act of 1939, as
amended, and any other applicable laws relating to the transfer of similar interests and (iii) such
Participation shall not be made under circumstances that require registration under the Securities
Act of 1933, as amended, or qualification of any indenture under the Trust Indenture Act of 1939,
as amended. Notwithstanding any such Participation, the Liquidity Provider agrees that (1) the
Liquidity Provider’s obligations under the Operative Agreements shall remain unchanged, and such
participant shall have no rights or benefits as against Delta or the Borrower or under any
Operative Agreement, (2) the Liquidity Provider shall remain solely responsible to the other
parties to the Operative Agreements for the performance of such obligations, (3) the Liquidity
Provider shall remain the maker of any Advances, and the other parties to the Operative Agreements
shall continue to deal solely and directly with the Liquidity Provider in connection with the
Advances and the Liquidity Provider’s rights and obligations under the Operative Agreements,
(4) the Liquidity Provider shall be solely responsible for any withholding Taxes or any filing or
reporting requirements relating to such Participation and shall hold the Borrower and Delta and
their respective successors, permitted assigns, affiliates, agents and servants harmless against
the same and (5) neither Delta nor the Borrower shall be required to pay to the Liquidity Provider
any amount under Section 3.01 or Section 3.03 greater than it would have been required to pay had
there not been any grant of a Participation by the Liquidity Provider. The Liquidity Provider may,
in connection with any Participation or proposed Participation pursuant to this Section 7.08(b),
disclose to the participant or proposed participant any information relating to the Operative
Agreements or to the parties thereto furnished to the Liquidity Provider thereunder or in
connection therewith and permitted to be disclosed by the Liquidity Provider; provided,
however, that prior to any such disclosure, the participant or proposed participant shall
agree in writing for the express benefit of the Borrower and Delta to preserve the confidentiality
of any confidential information included therein (subject to customary exceptions).

          (c) Notwithstanding the other provisions of this Section 7.08, the Liquidity Provider may
assign and pledge all or any portion of the Advances owing to it to any Federal Reserve Bank or the
United States Treasury as collateral security pursuant to Regulation A of the Board of Governors of
the Federal Reserve System and any Operating Circular issued by such Federal Reserve Bank;
provided that any payment in respect of such assigned Advances made by the Borrower to the
Liquidity Provider in accordance with the terms of this Agreement shall satisfy the Borrower’s
obligations hereunder in respect of such assigned Advance to the extent of such payment. No such
assignment shall release the Liquidity Provider from its obligations hereunder.

     Section 7.09 Severability. To the extent permitted by applicable law, 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

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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 7.10 Governing Law. THIS AGREEMENT HAS BEEN DELIVERED IN THE STATE OF NEW
YORK AND THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE
OF NEW YORK, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE.

     Section 7.11 Submission to Jurisdiction; Waiver of Jury Trial; Waiver of Immunity.
(a) Each of the parties hereto, to the extent it may do so under applicable law, for purposes
hereof hereby (i) irrevocably submits itself to the non-exclusive jurisdiction of the courts of the
State of New York sitting in the City of New York and to the non-exclusive jurisdiction of the
United States District Court for the Southern District of New York, for the purposes of any suit,
action or other proceeding arising out of this Agreement, the subject matter hereof or any of the
transactions contemplated hereby brought by any party or parties hereto or thereto, or their
successors or permitted assigns and (ii) waives, and agrees not to assert, by way of motion, as a
defense, or otherwise, in any such suit, action or proceeding, that the suit, action or proceeding
is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper
or that this Agreement or the subject matter hereof or any of the transactions contemplated hereby
may not be enforced in or by such courts.

          (b) THE BORROWER AND THE LIQUIDITY PROVIDER EACH HEREBY AGREE TO WAIVE THEIR RESPECTIVE RIGHTS
TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY
DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT AND THE RELATIONSHIP THAT IS
BEING ESTABLISHED, including, without limitation, contract claims, tort claims, breach of duty
claims and all other common law and statutory claims. The Borrower and the Liquidity Provider each
warrant and represent that it has reviewed this waiver with its legal counsel, and that it
knowingly and voluntarily waives its jury trial rights following consultation with such legal
counsel. TO THE EXTENT PERMITTED BY APPLICABLE LAW, THIS WAIVER IS IRREVOCABLE, AND CANNOT BE
MODIFIED EITHER ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS,
RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT.

          (c) To the extent that the Liquidity Provider or any of its properties has or may hereafter
acquire any right of immunity, whether characterized as sovereign immunity or otherwise, and
whether under the United States Foreign Sovereign Immunities Act of 1976 (or any successor
legislation) or otherwise, from any legal proceedings, whether in the United States or elsewhere,
to enforce or collect upon this Agreement, including, without limitation, immunity from suit or
service of process, immunity from jurisdiction or judgment of any court or tribunal
or execution of a judgment, or immunity of any of its property from attachment prior to any
entry of judgment, or from attachment in aid of execution upon a judgment, the Liquidity Provider
hereby irrevocably and expressly waives any such immunity, and agrees not to assert any such right
or claim in any such proceeding, whether in the United States or elsewhere.

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     Section 7.12 Counterparts. This Agreement may be executed in any number of
counterparts (and each party shall not be required to execute the same counterpart). Each
counterpart of this Agreement including a signature page or pages executed by each of the parties
hereto shall be an original counterpart of this Agreement, but all of such counterparts together
shall constitute one instrument.

     Section 7.13 Entirety. This Agreement and the Intercreditor Agreement constitute the
entire agreement of the parties hereto with respect to the subject matter hereof and supersede all
prior understandings and agreements of such parties.

     Section 7.14 Headings. The headings of the various Articles and Sections herein and
in the Table of Contents hereto are for convenience of reference only and shall not define or limit
any of the terms or provisions hereof.

     Section 7.15 Liquidity Provider’s Obligation to Make Advances. EXCEPT AS EXPRESSLY
SET FORTH IN THIS AGREEMENT, THE OBLIGATIONS OF THE LIQUIDITY PROVIDER TO MAKE ADVANCES HEREUNDER,
AND THE BORROWER’S RIGHTS TO DELIVER NOTICES OF BORROWING REQUESTING THE MAKING OF ADVANCES
HEREUNDER, SHALL BE ABSOLUTE, UNCONDITIONAL AND IRREVOCABLE, AND SHALL BE PAID OR PERFORMED, IN
EACH CASE STRICTLY IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT.

     Section 7.16 Head Office Obligations. The Liquidity Provider is Natixis S.A., a
French bank (“Natixis”), acting through its New York Branch. The Liquidity Provider hereby agrees
that, notwithstanding the place of booking or its jurisdiction of incorporation or organization,
the obligations of the Liquidity Provider hereunder are also the obligations of the head office of
Natixis in Paris, France (the “Head Office”). Accordingly, any beneficiary of this Agreement will
be able to proceed directly against the Head Office, if the Liquidity Provider defaults in its
obligations to such beneficiary under this Agreement.

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     IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and
delivered by their respective officers thereunto duly authorized as of the date first set forth
above.

	 	 	 	 	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION, not in its
individual capacity but solely as Subordination

Agent, as agent and trustee for the Class A Trust, as

Borrower

 	 
	 	By:  	/s/
Alison D.B. Nadeau
 	 
	 	 	Name:  	Alison D.B. Nadeau 	 
	 	 	Title:  	Vice President 	 
	 
	 	NATIXIS S.A., ACTING VIA ITS NEW YORK BRANCH, as
Liquidity Provider

 	 
	 	By:  	/s/
Jerome Le Jamtel
 	 
	 	 	Name:  	Jerome Le Jamtel 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	
/s/ Lily Cheung
 	 
	 	 	Name:  	Lily Cheung 	 
	 	 	Title:  	Director
Natixis 	 
	 

Signature Page

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ANNEX I to

REVOLVING CREDIT AGREEMENT

FORM OF INTEREST ADVANCE NOTICE OF BORROWING

INTEREST ADVANCE NOTICE OF BORROWING

     The undersigned, a duly authorized signatory of the undersigned borrower (the “Borrower”),
hereby certifies to NATIXIS S.A., acting via its New York Branch (the “Liquidity Provider”), with
reference to the Revolving Credit Agreement (2010-1A), dated as of July 2, 2010, between the
Borrower and the Liquidity Provider (the “Liquidity Agreement”; the terms defined therein and not
otherwise defined herein being used herein as therein defined or referenced), that:

     (1) The Borrower is the Subordination Agent under the Intercreditor Agreement.

     (2) The Borrower is delivering this Notice of Borrowing for the making of an Interest
Advance by the Liquidity Provider to be used for the payment of the interest on the Class A
Certificates which is payable on                     , ___(the “Distribution Date”) in accordance
with the terms and provisions of the Class A Trust Agreement and the Class A Certificates,
which Advance is requested to be made on                     , ___. The Interest Advance should be
remitted to [insert wire and account details].

     (3) The amount of the Interest Advance requested hereby (i) is $                    , to be
applied in respect of the payment of the interest which is due and payable on the Class A
Certificates on the Distribution Date, (ii) does not include any amount with respect to the
payment of principal of, or premium on, the Class A Certificates, or principal of, or
interest or premium on the Class B Certificates, if issued, (iii) was computed in accordance
with the provisions of the Class A Certificates, the Class A Trust Agreement and the
Intercreditor Agreement (a copy of which computation is attached hereto as Schedule I),
(iv) does not exceed the Maximum Available Commitment on the date hereof and (v) has not
been and is not the subject of a prior or contemporaneous Notice of Borrowing.

     (4) Upon receipt by or on behalf of the Borrower of the amount requested hereby,
(a) the Borrower will apply the same in accordance with the terms of Section 3.05(b) of the
Intercreditor Agreement, (b) no portion of such amount shall be applied by the Borrower for
any other purpose and (c) no portion of such amount until so applied shall be commingled
with other funds held by the Borrower.

     The Borrower hereby acknowledges that, pursuant to the Liquidity Agreement, the making of the
Interest Advance as requested by this Notice of Borrowing shall automatically reduce, subject to
reinstatement in accordance with the terms of the Liquidity Agreement, the Maximum Available
Commitment by an amount equal to the amount of the Interest Advance requested to be made hereby as
set forth in clause (i) of paragraph (3) of this Notice of

Revolving Credit Agreement (Class A)

(2010-1 EETC)

 

 

Borrowing and such reduction shall automatically result in corresponding reductions in
the amounts available to be borrowed pursuant to a subsequent Advance.

     IN WITNESS WHEREOF, the Borrower has executed and delivered this Notice of Borrowing as of the
___day of                     , ___.

	 	 	 	 	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION, as

Subordination Agent, as Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Revolving Credit Agreement (Class A)

(2010-1 EETC)

I-2

 

SCHEDULE I TO INTEREST ADVANCE NOTICE OF BORROWING

[Insert Copy of Computations in accordance with Interest Advance Notice of Borrowing]

Revolving Credit Agreement (Class A)

(2010-1 EETC)

I-3

 

ANNEX II to

REVOLVING CREDIT AGREEMENT

FORM OF NON-EXTENSION ADVANCE NOTICE OF BORROWING 

NON-EXTENSION ADVANCE NOTICE OF BORROWING

     The undersigned, a duly authorized signatory of the undersigned subordination agent (the
“Borrower”), hereby certifies to NATIXIS S.A., acting via its New York Branch (the “Liquidity
Provider”), with reference to the Revolving Credit Agreement (2010-1A), dated as of July 2, 2010,
between the Borrower and the Liquidity Provider (the “Liquidity Agreement”; the terms defined
therein and not otherwise defined herein being used herein as therein defined or referenced), that:

     (1) The Borrower is the Subordination Agent under the Intercreditor Agreement.

     (2) The Borrower is delivering this Notice of Borrowing for the making of the Non-Extension
Advance by the Liquidity Provider to be used for the funding of the Class A Cash Collateral Account
in accordance with Section 3.05(d) of the Intercreditor Agreement, which Advance is requested to be
made on                     , ___. The Non-Extension Advance should be remitted to [insert wire and account
details].

     (3) The amount of the Non-Extension Advance requested hereby (i) is $                    , which
equals the Maximum Available Commitment on the date hereof and is to be applied in respect of the
funding of the Class A Cash Collateral Account in accordance with Sections 3.05(d) and 3.05(f) of
the Intercreditor Agreement, (ii) does not include any amount with respect to the payment of the
principal of, or premium on, the Class A Certificates, or principal of, or interest or premium on,
the Class B Certificates, if issued, (iii) was computed in accordance with the provisions of the
Class A Certificates, the Liquidity Agreement, the Class A Trust Agreement and the Intercreditor
Agreement (a copy of which computation is attached hereto as Schedule I) and (iv) has not been and
is not the subject of a prior or contemporaneous Notice of Borrowing under the Liquidity Agreement.

     (4) Upon receipt by or on behalf of the Borrower of the amount requested hereby, (a) the
Borrower will deposit such amount in the Class A Cash Collateral Account and apply the same in
accordance with the terms of Sections 3.05(d) and 3.05(f) of the Intercreditor Agreement, (b) no
portion of such amount shall be applied by the Borrower for any other purpose and (c) no portion of
such amount until so applied shall be commingled with other funds held by the Borrower.

     The Borrower hereby acknowledges that, pursuant to the Liquidity Agreement, (A) the making of
the Non-Extension Advance as requested by this Notice of Borrowing shall automatically and
irrevocably terminate the obligation of the Liquidity Provider to make further Advances under the
Liquidity Agreement and (B) following the making by the Liquidity Provider of the Non-Extension
Advance requested by this Notice of Borrowing, the Borrower shall not be entitled to request any
further Advances under the Liquidity Agreement.

Revolving Credit Agreement (Class A)

(2010-1 EETC)

 

 

     IN WITNESS WHEREOF, the Borrower has executed and delivered this Notice of Borrowing as
of the ___day of                     , ___.

	 	 	 	 	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION, as

Subordination Agent, as Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Revolving Credit Agreement (Class A)

(2010-1 EETC)

II-2

 

SCHEDULE I TO NON-EXTENSION ADVANCE NOTICE OF BORROWING

[Insert Copy of computations in accordance with Non-Extension Advance Notice of Borrowing]

Revolving Credit Agreement (Class A)

(2010-1 EETC)

II-3

 

ANNEX III to

REVOLVING CREDIT AGREEMENT

FORM OF DOWNGRADE ADVANCE NOTICE OF BORROWING 

DOWNGRADE ADVANCE NOTICE OF BORROWING

     The undersigned, a duly authorized signatory of the undersigned subordination agent (the
“Borrower”), hereby certifies to NATIXIS S.A., acting via its New York Branch (the “Liquidity
Provider”), with reference to the Revolving Credit Agreement (2010-1A), dated as of July 2, 2010,
between the Borrower and the Liquidity Provider (the “Liquidity Agreement”; the terms defined
therein and not otherwise defined herein being used herein as therein defined or referenced), that:

     (1) The Borrower is the Subordination Agent under the Intercreditor Agreement.

     (2) The Borrower is delivering this Notice of Borrowing for the making of the Downgrade
Advance by the Liquidity Provider to be used for the funding of the Class A Cash Collateral Account
in accordance with Section 3.05(c) of the Intercreditor Agreement by reason of the downgrading of
the Short-Term Rating, or, if the Liquidity Provider does not have a Short-Term Rating from the
applicable Rating Agency, the Long-Term Rating, of the Liquidity Provider issued by such Rating
Agency below the applicable Threshold Rating, which Advance is requested to be made on                     ,
___. The Downgrade Advance should be remitted to [insert wire and account details].

     (3) The amount of the Downgrade Advance requested hereby (i) is $                    , which equals
the Maximum Available Commitment on the date hereof and is to be applied in respect of the funding
of the Class A Cash Collateral Account in accordance with Sections 3.05(c) and 3.05(f) of the
Intercreditor Agreement, (ii) does not include any amount with respect to the payment of the
principal of, or premium on, the Class A Certificates, or principal of, or interest or premium on,
the Class B Certificates, if issued, (iii) was computed in accordance with the provisions of the
Class A Certificates, the Class A Trust Agreement and the Intercreditor Agreement (a copy of which
computation is attached hereto as Schedule I) and (iv) has not been and is not the subject of a
prior or contemporaneous Notice of Borrowing under the Liquidity Agreement.

     (4) Upon receipt by or on behalf of the Borrower of the amount requested hereby, (a) the
Borrower will deposit such amount in the Class A Cash Collateral Account and apply the same in
accordance with the terms of Sections 3.05(c) and 3.05(f) of the Intercreditor Agreement, (b) no
portion of such amount shall be applied by the Borrower for any other purpose and (c) no portion of
such amount until so applied shall be commingled with other funds held by the Borrower.

     The Borrower hereby acknowledges that, pursuant to the Liquidity Agreement, (A) the making of
the Downgrade Advance as requested by this Notice of Borrowing shall automatically and irrevocably
terminate the obligation of the Liquidity Provider to make further Advances

Revolving Credit Agreement (Class A)

(2010-1 EETC)

 

 

under the Liquidity Agreement and (B) following the making by the Liquidity Provider of
the Downgrade Advance requested by this Notice of Borrowing, the Borrower shall not be entitled to
request any further Advances under the Liquidity Agreement.

     IN WITNESS WHEREOF, the Borrower has executed and delivered this Notice of Borrowing as of the
___day of                     , ___.

	 	 	 	 	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION, as

Subordination Agent, as Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Revolving Credit Agreement (Class A)

(2010-1 EETC)

III-2

 

SCHEDULE I TO DOWNGRADE ADVANCE NOTICE OF BORROWING

[Insert Copy of computations in accordance with Downgrade Advance Notice of Borrowing]

Revolving Credit Agreement (Class A)

(2010-1 EETC)

III-3

 

ANNEX IV to

REVOLVING CREDIT AGREEMENT

FORM OF FINAL ADVANCE NOTICE OF BORROWING

FINAL ADVANCE NOTICE OF BORROWING

     The undersigned, a duly authorized signatory of the undersigned borrower (the “Borrower”),
hereby certifies to NATIXIS S.A., acting via its New York Branch (the “Liquidity Provider”), with
reference to the Revolving Credit Agreement (2010-1A), dated as of July 2, 2010, between the
Borrower and the Liquidity Provider (the “Liquidity Agreement”; the terms defined therein and not
otherwise defined herein being used herein as therein defined or referenced), that:

     (1) The Borrower is the Subordination Agent under the Intercreditor Agreement.

     (2) The Borrower is delivering this Notice of Borrowing for the making of the Final
Advance by the Liquidity Provider to be used for the funding of the Class A Cash Collateral
Account in accordance with Section 3.05(i) of the Intercreditor Agreement by reason of the
receipt by the Borrower of a Termination Notice from the Liquidity Provider with respect to
the Liquidity Agreement, which Advance is requested to be made on                     , ___. The
Final Advance should be remitted to [insert wire and account details].

     (3) The amount of the Final Advance requested hereby (i) is $                    , which equals
the Maximum Available Commitment on the date hereof and is to be applied in respect of the
funding of the Class A Cash Collateral Account in accordance with Sections 3.05(f) and
3.05(i) of the Intercreditor Agreement, (ii) does not include any amount with respect to the
payment of principal of, or premium on, the Class A Certificates, or principal of, or
interest or premium on, the Class B Certificates, if issued, (iii) was computed in
accordance with the provisions of the Class A Certificates, the Class A Trust Agreement and
the Intercreditor Agreement (a copy of which computation is attached hereto as Schedule I)
and (iv) has not been and is not the subject of a prior or contemporaneous Notice of
Borrowing.

     (4) Upon receipt by or on behalf of the Borrower of the amount requested hereby,
(a) the Borrower will deposit such amount in the Class A Cash Collateral Account and apply
the same in accordance with the terms of Sections 3.05(f) and 3.05(i) of the Intercreditor
Agreement, (b) no portion of such amount shall be applied by the Borrower for any other
purpose and (c) no portion of such amount until so applied shall be commingled with other
funds held by the Borrower.

     The Borrower hereby acknowledges that, pursuant to the Liquidity Agreement, (A) the making of
the Final Advance as requested by this Notice of Borrowing shall automatically and irrevocably
terminate the obligation of the Liquidity Provider to make further Advances under

Revolving Credit Agreement (Class A)

(2010-1 EETC)

 

 

the Liquidity Agreement and (B) following the making by the Liquidity Provider of the
Final Advance requested by this Notice of Borrowing, the Borrower shall not be entitled to request
any further Advances under the Liquidity Agreement.

     IN WITNESS WHEREOF, the Borrower has executed and delivered this Notice of Borrowing as of the
___day of                     , ___.

	 	 	 	 	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION, as

Subordination Agent, as Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[* Bracketed language may be included at Borrower’s option.]

Revolving Credit Agreement (Class A)

(2010-1 EETC)

IV-2

 

SCHEDULE 1 TO FINAL ADVANCE NOTICE OF BORROWING

[Insert Copy of Computations in accordance with Final Advance Notice of Borrowing]

Revolving Credit Agreement (Class A)

(2010-1 EETC)

IV-3

 

ANNEX V to

REVOLVING CREDIT AGREEMENT

FORM OF SPECIAL TERMINATION

ADVANCE NOTICE OF BORROWING

SPECIAL TERMINATION ADVANCE NOTICE OF BORROWING

     The undersigned, a duly authorized signatory of the undersigned borrower (the “Borrower”),
hereby certifies to NATIXIS S.A., acting via its New York Branch (the “Liquidity Provider”), with
reference to the Revolving Credit Agreement (2010-1A), dated as of July 2, 2010, between the
Borrower and the Liquidity Provider (the “Liquidity Agreement”; the terms defined therein and not
otherwise defined herein being used herein as therein defined or referenced), that:

     (1) The Borrower is the Subordination Agent under the Intercreditor Agreement.

     (2) The Borrower is delivering this Notice of Borrowing for the making of the Special
Termination Advance by the Liquidity Provider to be used for the funding of the Class A Cash
Collateral Account in accordance with Section 3.05(k) of the Intercreditor Agreement by
reason of the receipt by the Borrower of a Special Termination Notice from the Liquidity
Provider with respect to the Liquidity Agreement, which Advance is requested to be made on
                                        .

     (3) The amount of the Special Termination Advance requested hereby (i) is
$                    , which equals the Maximum Available Commitment on the date hereof and is to
be applied in respect of the funding of the Class A Cash Collateral Account in accordance
with Section 3.05(k) of the Intercreditor Agreement, (ii) does not include any amount with
respect to the payment of principal of, or premium on, the Class A Certificates, or
principal of, or interest or premium on, the Class B Certificates, if issued, (iii) was
computed in accordance with the provisions of the Class A Certificates, the Class A Trust
Agreement and the Intercreditor Agreement (a copy of which computation is attached hereto as
Schedule I) and (iv) has not been and is not the subject of a prior or contemporaneous
Notice of Borrowing.

     (4) Upon receipt by or on behalf of the Borrower of the amount requested hereby,
(a) the Borrower shall deposit such amount in the Class A Cash Collateral Account and apply
the same in accordance with the terms of Section 3.05(f) of the Intercreditor Agreement,
(b) no portion of such amount shall be applied by the Borrower for any other purpose and
(c) no portion of such amount until so applied shall be commingled with other funds held by
the Borrower.

     The Borrower hereby acknowledges that, pursuant to the Liquidity Agreement, (A) the making of
the Special Termination Advance as requested by this Notice of Borrowing shall automatically and
irrevocably terminate the obligation of the Primary Liquidity Provider to make

Revolving Credit Agreement (Class A)

(2010-1 EETC)

 

 

further Advances under the Liquidity Agreement; and (B) following the making by the
Liquidity Provider of the Special Termination Advance requested by this Notice of Borrowing, the
Borrower shall not be entitled to request any further Advances under the Liquidity Agreement.

     IN WITNESS WHEREOF, the Borrower has executed and delivered this Notice of Borrowing as of the
___day of                     , ___.

	 	 	 	 	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION, as

Subordination Agent, as Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Revolving Credit Agreement (Class A)

(2010-1 EETC)

V-2

 

SCHEDULE 1 TO SPECIAL TERMINATION ADVANCE NOTICE OF BORROWING

[Insert Copy of Computations in accordance with Special Termination Advance Notice of Borrowing]

Revolving Credit Agreement (Class A)

(2010-1 EETC)

V-3

 

ANNEX VI to

REVOLVING CREDIT AGREEMENT

FORM OF NOTICE OF TERMINATION

NOTICE OF TERMINATION

	 	 	 

	 

	 	[Date]

U.S. Bank Trust National Association,

     as Subordination Agent,

     as Borrower

225 Asylum Street

Goodwin Square

Hartford, Connecticut 06103

Attention: Corporate Trust Division

	Re:	 	Revolving Credit Agreement, dated as of July 2, 2010, between U.S. Bank Trust National Association, as
Subordination Agent, as agent and trustee for the Delta Air Lines Pass Through Trust 2010-1A, as Borrower,
and Natixis S.A., acting via its New York Branch (the “Liquidity Agreement”)

Ladies and Gentlemen:

     You are hereby notified that pursuant to Section 6.01(a) of the Liquidity Agreement, by reason
of the occurrence and continuance of a Liquidity Event of Default and the existence of a Performing
Note Deficiency (each as defined in the Liquidity Agreement), we are giving this notice to you in
order to cause (i) our obligations to make Advances (as defined in the Liquidity Agreement) under
such Liquidity Agreement to terminate at the close of business on the fifth Business Day after the
date on which you receive this notice and (ii) you to request a Final Advance under the Liquidity
Agreement pursuant to Section 2.02(c) of the Liquidity Agreement and Section 3.05(i) of the
Intercreditor Agreement (as defined in the Liquidity Agreement) as a consequence of your receipt of
this notice.

Revolving Credit Agreement (Class A)

(2010-1 EETC)

 

 

     THIS NOTICE IS THE “NOTICE OF TERMINATION” PROVIDED FOR UNDER THE LIQUIDITY AGREEMENT.
OUR OBLIGATIONS TO MAKE ADVANCES UNDER THE LIQUIDITY AGREEMENT WILL TERMINATE AT THE CLOSE OF
BUSINESS ON THE FIFTH BUSINESS DAY AFTER THE DATE ON WHICH YOU RECEIVE THIS NOTICE.

	 	 	 	 	 
	 	Very truly yours,

NATIXIS S.A., ACTING VIA ITS NEW YORK BRANCH,

as Liquidity Provider

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

	cc:	 	U.S. Bank Trust National Association, as Class A Trustee
Delta Air Lines, Inc.

Revolving Credit Agreement (Class A)

(2010-1 EETC)

VI-2

 

ANNEX VII to

REVOLVING CREDIT AGREEMENT

FORM OF NOTICE OF SPECIAL TERMINATION

NOTICE OF SPECIAL TERMINATION

[Date]

U.S. Bank Trust National Association,

     as Subordination Agent,

     as Borrower

225 Asylum Street

Goodwin Square

Hartford, Connecticut 06103

Attention: Corporate Trust Division

	Re:	 	Revolving Credit Agreement, dated as of July 2,
2010, between U.S. Bank Trust National Association, as
Subordination Agent, as agent and trustee for the
Delta Air Lines Pass Through Trust 2010-1A, as
Borrower, and Natixis S.A., acting via its New York
Branch (the “Liquidity Agreement”)

Ladies and Gentlemen:

     You are hereby notified that pursuant to Section 6.01(b) of the Liquidity Agreement, by reason
of the aggregate Pool Balance of the Class A Certificates exceeding the aggregate outstanding
principal amount of the Series A Equipment Notes (other than any Series A Equipment Notes
previously sold or with respect to which the Aircraft related to such Series A Equipment Notes has
been disposed of) during the 18-month period prior to July 2, 2018, we are giving this notice to
you in order to cause (i) our obligations to make Advances (as defined in the Liquidity Agreement)
under such Liquidity Agreement to terminate on the fifth Business Day after the date on which you
receive this notice and (ii) you to request a Special Termination Advance under the Liquidity
Agreement pursuant to Section 2.02(d) of the Liquidity Agreement and Section 3.05(k) of the
Intercreditor Agreement (as defined in the Liquidity Agreement) as a consequence of your receipt of
this notice.

Revolving Credit Agreement (Class A)

(2010-1 EETC)

 

 

     THIS NOTICE IS THE “NOTICE OF SPECIAL TERMINATION” PROVIDED FOR UNDER THE LIQUIDITY
AGREEMENT. OUR OBLIGATIONS TO MAKE ADVANCES UNDER THE LIQUIDITY AGREEMENT WILL TERMINATE AT THE
CLOSE OF BUSINESS ON THE FIFTH BUSINESS DAY AFTER THE DATE ON WHICH YOU RECEIVE THIS NOTICE.

	 	 	 	 	 
	 	Very truly yours,

NATIXIS S.A., ACTING VIA ITS NEW YORK BRANCH,

as Liquidity Provider

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

	cc:	 	U.S. Bank Trust National Association, as Class A Trustee
Delta Air Lines, Inc.

Revolving Credit Agreement (Class A)

(2010-1 EETC)

VII-2

 

ANNEX VIII to

REVOLVING CREDIT AGREEMENT

FORM OF NOTICE OF REPLACEMENT SUBORDINATION AGENT

NOTICE OF REPLACEMENT SUBORDINATION AGENT

[Date]

Attention:

	Re:	 	Revolving Credit Agreement, dated as of July 2, 2010, between U.S.
Bank Trust National Association, as Subordination Agent, as agent
and trustee for the Delta Air Lines Pass Through Trust 2010-1A, as
Borrower, and Natixis S.A., acting via its New York Branch (the
“Liquidity Agreement”)

Ladies and Gentlemen:

     For value received, the undersigned beneficiary hereby irrevocably transfers to:

[Name of Transferee]

[Address of Transferee]

all rights and obligations of the undersigned as Borrower under the Liquidity Agreement referred to
above. The transferee has succeeded the undersigned as Subordination Agent under the Intercreditor
Agreement referred to in the first paragraph of the Liquidity Agreement, pursuant to the terms of
Section 7.01 of the Intercreditor Agreement.

     By this transfer, all rights of the undersigned as Borrower under the Liquidity Agreement are
transferred to the transferee and the transferee shall hereafter have the sole rights and
obligations as Borrower thereunder. The undersigned shall pay any costs and expenses of such
transfer, including, but not limited to, transfer taxes or governmental charges.

     This transfer shall be effective as of [specify time and date].

	 	 	 	 	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION, as

Subordination Agent, as Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Revolving Credit Agreement (Class A)

(2010-1 EETC)

VIII-1

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