Document:

EX-10.33

 Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the
information subject to the confidentiality request. Omissions are designated as [*****]. A complete version of this exhibit has been filed separately with the Securities and Exchange Commission. 

Exhibit 10.33 
 EXECUTION VERSION 
 Date      April 2013 

CONCESIONARIA VUELA COMPAÑÍA DE AVIACIÓN, S.A.P.I. DE C.V. 

as Lessee 
 - and
- 
 AMENTUM AIRCRAFT LEASING NO. THREE LIMITED 
 as Lessor 
  

 
 AIRCRAFT
LEASE AGREEMENT 
  
  

in respect of one (1) Airbus A320-200 aircraft 
 bearing MSN 3543 

 INDEX 

 

							
	Clause	  	Page	 
			
	 1
	 	 INTERPRETATION
	  	 	1	  
			
	 2
	 	 REPRESENTATIONS AND WARRANTIES
	  	 	1	  
			
	 3
	 	 CONDITIONS PRECEDENT
	  	 	1	  
			
	 4
	 	 DELIVERY AND ACCEPTANCE
	  	 	1	  
			
	 5
	 	 PAYMENTS
	  	 	3	  
			
	 6
	 	 TAXATION
	  	 	5	  
			
	 7
	 	 QUIET ENJOYMENT
	  	 	8	  
			
	 8
	 	 LESSEE’S COVENANTS
	  	 	8	  
			
	 9
	 	 INSURANCE AND TOTAL LOSS
	  	 	8	  
			
	 10
	 	 MANUFACTURER’S WARRANTIES
	  	 	9	  
			
	 11
	 	 INDEMNITY
	  	 	10	  
			
	 12
	 	 RETURN OF AIRCRAFT
	  	 	10	  
			
	 13
	 	 DEFAULT
	  	 	10	  
			
	 14
	 	 ASSIGNMENT
	  	 	11	  
			
	 15
	 	 ILLEGALITY
	  	 	11	  
			
	 16
	 	 NOTICES
	  	 	11	  
			
	 17
	 	 DISCLAIMERS AND WAIVERS
	  	 	12	  
			
	 18
	 	 CONFIDENTIALITY
	  	 	13	  
			
	 19
	 	 LAW AND JURISDICTION
	  	 	13	  
		
	 APPENDIX 1 PART 1 DEFINITIONS
	  	 	16	  
		
	 APPENDIX 1 PART 2 CONSTRUCTION
	  	 	29	  
		
	 APPENDIX 2 DESCRIPTION OF AIRCRAFT
	  	 	31	  
		
	 APPENDIX 3 PART 1 LESSEE’S REPRESENTATIONS AND WARRANTIES
	  	 	32	  
		
	 APPENDIX 3 PART 2 LESSOR’S REPRESENTATIONS AND WARRANTIES
	  	 	34	  
		
	 APPENDIX 4 PART 1 LESSOR CONDITIONS PRECEDENT
	  	 	36	  
		
	 APPENDIX 4 PART 2 LESSEE CONDITIONS PRECEDENT
	  	 	40	  
		
	 APPENDIX 5 PART 1 ADDITIONAL PAYMENT PROVISIONS
	  	 	41	  
		
	 APPENDIX 5 PART 2 PAYMENT OF MAINTENANCE RESERVES
	  	 	43	  
		
	 APPENDIX 5 PART 3 REFUND OF MAINTENANCE RESERVES
	  	 	47	  
		
	 APPENDIX 6 LESSEE’S COVENANTS
	  	 	51	  
		
	 APPENDIX 7 PART 1 INSURANCE COVENANTS
	  	 	67	  
		
	 APPENDIX 7 PART 2 INSURANCE REQUIREMENTS
	  	 	71	  
		
	 APPENDIX 7 PART 3 TOTAL LOSS
	  	 	74	  
		
	 APPENDIX 7A PART 1 PRE-DELIVERY PROCEDURE
	  	 	76	  

							
		 	 APPENDIX 7A PART 2 DELIVERY CONDITION
	  	 	77	  
			
		 	 APPENDIX 7A PART 3 AIRCRAFT DOCUMENTS AT DELIVERY
	  	 	82	  
			
		 	 APPENDIX 8 PART 1 RETURN OF THE AIRCRAFT
	  	 	91	  
			
		 	 APPENDIX 8 PART 2 OPERATING CONDITION AT REDELIVERY
	  	 	95	  
			
		 	 APPENDIX 8 PART 3 AIRCRAFT DOCUMENTS AT REDELIVERY
	  	 	101	  
			
		 	 APPENDIX 9 PART 1 EVENTS OF DEFAULT
	  	 	111	  
			
		 	 APPENDIX 9 PART 2
	  	 	114	  
			
		 	 APPENDIX 10 ASSIGNMENT
	  	 	116	  
			
		 	 EXHIBIT A PART 1 ACKNOWLEDGEMENT OF ASSIGNMENT OF GUARANTEE
	  	 	119	  
			
		 	 EXHIBIT A PART 2 ACKNOWLEDGEMENT OF ASSIGNMENT OF LEASE
	  	 	121	  
			
		 	 EXHIBIT B FORM OF CERTIFICATE OF ACCEPTANCE
	  	 	123	  
			
		 	 EXHIBIT C PART 1 AIR TRAFFIC CONTROL LETTER
	  	 	126	  
			
		 	 EXHIBIT C PART 2 AIR TRAFFIC CONTROL LETTER
	  	 	127	  
			
		 	 EXHIBIT D DEREGISTRATION AND EXPORT POWER OF ATTORNEY
	  	 	128	  
			
		 	 EXHIBIT E QUIET ENJOYMENT LETTER
	  	 	130	  
			
		 	 EXHIBIT F FORM OF MONTHLY REPORT
	  	 	132	  
			
		 	 EXHIBIT G PROCESS AGENT POWER OF ATTORNEY (LESSEE)
	  	 	135	  
			
		 	 EXHIBIT H PROCESS AGENT POWER OF ATTORNEY (GUARANTOR)
	  	 	136	  

 THIS AIRCRAFT LEASE AGREEMENT is made on      April 2013 

BETWEEN: 
  

	(1)	CONCESIONARIA VUELA COMPAÑÍA DE AVIACIÓN, S.A.P.I. DE C.V. a company duly organised and validly existing under the laws of Mexico and having
its address at Av. Prolongación Paseo de la Reforma 490, Piso 1, Col. Santa Fe Pena Blanca, 01210 Mexico (“Lessee”) and 

  

	(2)	AMENTUM AIRCRAFT LEASING NO. THREE LIMITED, a company duly incorporated and validly existing under the laws of the Ireland and having its registered office at 28
Upper Mount Street, Dublin 2, Ireland (“Lessor”) 

 RECITALS: 

Lessor has agreed to lease and Lessee has agreed to take on lease the Aircraft upon the terms and subject to the conditions set out in this Agreement.

 NOW IT IS AGREED as follows: 
  

	1	INTERPRETATION 

  

	1.1	In this Agreement, unless the context otherwise provides, capitalised terms and expressions have the meanings given to them in Part 1 of Appendix 1 and the
conventions of construction and usage set out in Part 2 of Appendix 1 shall apply to this Agreement. 

  

	1.2	References to “this Agreement” include the Appendices and the Exhibits and accordingly Lessee and Lessor hereby agree to comply with the terms
of each such Appendix and Exhibit as if set out in this Agreement in full. 

  

	2	REPRESENTATIONS AND WARRANTIES 

  

	2.1	Lessee represents and warrants to Lessor in the terms set out in Part 1 of Appendix 3. 

 

	2.2	Lessor represents and warrants to Lessee in the terms set out in Part 2 of Appendix 3 on execution of this Agreement. 

 

	2.3	Lessor represents and warrants to Lessee in the terms set out in Part 3 of Appendix 3 on the Delivery Date and each Rent Date (save as set out therein).

  

	3	CONDITIONS PRECEDENT 

  

	3.1	Lessor’s obligation to deliver and lease the Aircraft under this Agreement is subject to satisfaction or waiver of each of the conditions precedent
specified in Part 1 of Appendix 4. 

  

	3.2	Lessee’s obligation to accept delivery of the Aircraft and to lease the Aircraft under this Agreement is subject to satisfaction or waiver of each of the
conditions precedent specified in Part 2 of Appendix 4. 

  

	4	DELIVERY AND ACCEPTANCE 

  

	4.1	The Parties shall follow the Pre-Delivery Procedure. 

  

	4.2	The Aircraft is scheduled to be delivered during the Scheduled Delivery Month. Lessor shall notify Lessee of the scheduled delivery date (the “Scheduled
Delivery Date”) no later than ten (10) Business Days prior to such date. 

	(a)	On the Scheduled Delivery Date, subject to the terms and conditions of this Agreement and satisfaction or, as the case may be, waiver, of the conditions precedent set
forth in Appendix 4, Lessor will tender the Aircraft for Delivery at the Delivery Location and Lessee will thereupon accept the Aircraft. 

  

	(b)	Immediately upon Delivery, the Aircraft shall be deemed to have been delivered to and accepted by Lessee in an “as is, where is” condition and shall become
subject to and governed by this Agreement and the Term shall commence and Lessee shall thereupon sign and deliver to Lessor the Certificate of Acceptance. For the avoidance of doubt, the execution and delivery of the Certificate of Acceptance by
Lessee shall without further act constitute absolute, unconditional and irrevocable acceptance by Lessee of the Aircraft under this Agreement. 

  

	4.3	Lessee will not be obliged to accept delivery of the Aircraft if it does not meet the Delivery Condition. If the Aircraft is not accepted by Lessee because the
Aircraft does not meet the Delivery Condition, Lessor shall have the option to remedy any discrepancies by reference to the Delivery Condition and, prior to the Final Delivery Date, offer the Aircraft for Delivery and (if the Aircraft then meets the
Delivery Condition) the Lessee will thereupon accept the delivery of the Aircraft at the Delivery Location in an “as is, where is” condition and the provisions of Clause 4.2(b) shall apply. 

 

	4.4	If the Aircraft is tendered for Delivery and meets the Delivery Condition on or before the Final Delivery Date, Lessee shall not be entitled for any reason
whatsoever to refuse to accept the Aircraft for all purposes of this Agreement (including, without limitation, refuse to execute and deliver to Lessor, the Certificate of Acceptance). 

 

	4.5	Lessor shall not be responsible for any Loss (including any loss of profit), arising from any delay in the delivery of, or failure to deliver, the Aircraft to
Lessee under this Agreement unless such delay or failure arises as a direct consequence of the wilful default, wilful misconduct or Gross Negligence of Lessor. 

 

	4.6	

  

	(a)	If the Aircraft has been tendered for delivery and meets the Delivery Condition on or before the Final Delivery Date, but notwithstanding its obligation under Clause
4.4 (and without prejudice to Lessor’s remedies in respect of such non-compliance), Lessee has not accepted delivery of the Aircraft on or prior to the Final Delivery Date, then Lessor may cancel the obligation contained in this Agreement to
lease the Aircraft to Lessee by giving notice in writing to Lessee to that effect and Lessee shall reimburse to Lessor forthwith on demand all amounts which the Lessor shall have expended since 17 February 2011 in order to be able to deliver
the Aircraft to the Lessee (including, without limitation, all documented costs and expenses related to putting the Aircraft in the Delivery Condition and reasonable costs and expenses related to preparation of this Agreement and other Transaction
Documents), together with interest on each amount so demanded at the rate specified in Clause 5.5 from the date of demand until the date of payment (both before and after any relevant judgment). 

 

	(b)	If Delivery does not occur on or prior to the Final Delivery Date for any reason other than a default by the Lessee (including, without limitation, pursuant to Clause
4.4), then Lessee may cancel the obligation contained in this Agreement to take the Aircraft on lease from Lessor by giving notice to Lessor in writing to that effect. 

 

	(c)	Upon the service of a notice of cancellation by Lessor or Lessee under this Clause 4.6, neither party shall have any obligations under this Agreement other than:
(i) in relation to Lessee, as specified in paragraph (a) above and in paragraph 3 of Part 2 of Appendix 9; and (ii) in relation to Lessor, if paragraph (b) above is applicable, Lessor shall return to Lessee any payments
previously made by Lessee to Lessor under this Agreement (without prejudice to Clause 5.7). 

  
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	5	PAYMENTS 

  

	5.1	Lessee shall pay to Lessor (or shall have paid to Lessor, as the case may be) the Deposit in cash (the “Cash Deposit”) in the following
instalments: 

  

	(a)	two hundred and ***** on 23 February 2011 (the receipt of which is hereby acknowledged); and 

 

	(b)	*****, no later than five (5) Business Days prior to the Delivery Date. 

 

	5.2	

  

	(a)	The Cash Deposit shall be placed by Lessor in an interest bearing account with HSH Nordbank AG, or any other person who may be the Security Trustee from time to time
and any interest earned on the Deposit (net of any Taxes) shall be added to and form part of the Deposit for all purposes of this Agreement (and shall be returned to Lessee upon return of the Deposit pursuant to and in accordance with the terms of
this Agreement). Lessor agrees to use reasonable endeavours to obtain interest on the Cash Deposit at the rate from time to time quoted by HSH Nordbank AG, or the Security Trustee, as applicable, to customers generally for deposits in an amount
equal to the Deposit and for a term equal to the Term. Lessee agrees that upon payment to Lessor, the Deposit shall irrevocably and unconditionally become the property of Lessor and Lessor shall be entitled to commingle the Deposit with
Lessor’s and/or its Affiliates’ general or other funds, and Lessor will not hold any such funds as agent or on trust for Lessee or in any similar fiduciary capacity. 

 

	(b)	At any time during the Term, and provided no Default has occurred which is continuing, Lessee shall have the option to substitute the Cash Deposit with a Letter of
Credit in an amount equal to the Deposit (“LC Amount”). Upon receipt of a Letter of Credit, Lessor shall, promptly and in any event within seven (7) Business Days following receipt of such Letter of Credit (and provided no
Default has occurred and is continuing at such time) refund to Lessee an amount equal to the remaining Cash Deposit which has not been applied by Lessor pursuant to Clause 5.5(a) or set off by Lessor pursuant to Clause 5.7 (without prejudice to
Lessee’s obligations under Clause 5.5(b)). 

  

	5.3	The Term shall be divided into successive periods (each, a “Rental Period”). The first Rental Period shall begin on the Delivery Date and each
subsequent Rental Period shall begin on the next following Rent Date. Each Rental Period shall end on (but not include) the date numerically corresponding to the date at which it commences and which falls one (1) month after the commencement of
that Rental Period, except that if there is no such numerically corresponding date in the relevant month, it will end on the last day of that month and provided that the last Rental Period shall end on the Expiry Date. 

 

	5.4	The Rent payable by Lessee to Lessor for each Rental Period shall be *****. Lessee will pay the first instalment of Rent for the first Rental Period to the
Lessor on the Delivery Date. Rent for each subsequent Rental Period shall be payable monthly in advance on each Rent Date. 

5.5 
  

	(a)	 If Lessee or the Guarantor fails to comply with any provision of the Transaction Documents, any Event of Default (including, without limitation, under
paragraph (q)(iv) of Part 1 of Appendix 9) shall have occurred and be continuing or any event of default (howsoever defined) shall have occurred and be continuing under any Other Agreement, in addition to all rights and remedies accorded to Lessor
elsewhere under the Transaction Documents or under any applicable law, Lessor may immediately or at any time thereafter, without prior notice to Lessee (but Lessor shall, without prejudice to Lessor’s

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 3 

	 	
rights or Lessee’s obligations under this Agreement, notify Lessee of any application by Lessor pursuant to this Clause 5.5, promptly after such application by Lessor), apply the Cash
Deposit (or, if applicable, make a drawing under the Letter of Credit) and/or the Maintenance Reserves, in each case, in or towards the payment or discharge of any matured obligation (including, without limitation, under paragraph 2(b) of Part 1 of
Appendix 5) owed by Lessee, the Guarantor or any Affiliate of Lessee under the Transaction Documents or any Other Agreement, in such order as Lessor sees fit and/or exercise any of the rights of set-off described in Clause 5.7, against all or part
of the Deposit and/or Maintenance Reserves. 

  

	(b)	If Lessor exercises the rights described in Clause 5.5(a) above, Lessee shall, following a demand in writing from Lessor, within ten (10) Business Days restore the
Cash Deposit, LC Amount (if applicable) and/or Maintenance Reserves to the level at which it stood immediately prior to such exercise. 

  

	5.6	If Lessee fails to pay any amount payable under any Transaction Document on the due date, Lessee will pay on demand from time to time to Lessor interest (both
before and after judgment) on that amount, from the due date to the date of payment in full by Lessee to Lessor, at the rate calculated by Lessor to be LIBOR plus *****. All such interest will be compounded monthly and calculated on the basis of the
actual number of days elapsed and a 360 day year. 

 5.7 

 

	(a)	Lessor may set off any matured obligation owed under any Transaction Document or any Other Agreement against any obligation (whether or not matured) owed by Lessor to
Lessee, regardless of the place of payment or currency. If the obligations are in different currencies, Lessor may convert either obligation at the market rate of exchange available in London or at its option New York for the purpose of the set-off.
If an obligation is unascertained or unliquidated, Lessor may in good faith estimate that obligation and set off in respect of the estimate, subject to the relevant party accounting to the other when the obligation is ascertained or liquidated.
Lessor will not be obliged to pay any amounts to Lessee under any Transaction Document so long as any sums which are then due from Lessee under the Transaction Documents or any Other Agreement remain unpaid and any such amounts which would otherwise
be due from Lessor hereunder will fall due only if and when Lessee has paid all such sums except to the extent Lessor otherwise agrees or sets off such amounts against such payment pursuant to the foregoing. 

 

	(b)	If any sum paid or recovered in respect of the liabilities of Lessee under any Transaction Document is less than the amount then due, Lessor may apply that sum to
amounts due under the Transaction Documents in such proportions and order and generally in such manner as Lessor may determine. 

  

	5.8	Except as otherwise provided in this Agreement, each party shall pay its own legal and professional costs in respect of the transactions contemplated by the
Transaction Documents. Lessee shall pay all costs associated with registering the Aircraft, the Bill of Sale, this Agreement, any documents contemplated under the Transaction Documents and the interests of Lessor (but not the Security Trustee or any
Lender) in the Aircraft in the State of Registration including, without limitation, the cost, if applicable, of notarising and apostilling this Agreement and the Bill of Sale. 

 

	5.9	Lessee’s obligations under this Agreement are absolute and unconditional irrespective of any contingency whatsoever including (but not limited to):

  

	(a)	any right of set-off, counterclaim, recoupment, defence or other right which either party to this Agreement may have against the other; 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 4 

	(b)	any unavailability of the Aircraft for any reason (except as a result of a Total Loss, following receipt by Lessor or the Security Trustee of the Agreed Value and any
other amounts due and owing as at the date of receipt by Lessor or Security Trustee of the Agreed Value pursuant to and in accordance with paragraph 2 of Part 3 of Appendix 7), including, but not limited to, a requisition of the Aircraft or any
prohibition or interruption of or interference with or other restriction against Lessee’s use, operation or possession of the Aircraft; 

  

	(c)	any lack or invalidity of title or any other defect in title, airworthiness, merchantability, fitness for any purpose, condition, design, or operation of any kind or
nature of the Aircraft for any particular use or trade, or for registration or documentation under the laws of any relevant jurisdiction, or in respect of or any damage to the Aircraft; 

 

	(d)	any insolvency, bankruptcy, reorganisation, concurso mercantil, arrangement, readjustment of debt, dissolution, liquidation or similar proceedings by or against Lessor,
Lessee or any other person; 

  

	(e)	any invalidity or unenforceability or lack of due authorisation of, or other defect in, any Transaction Document; and 

 

	(f)	any other cause which but for this provision would or might otherwise have the effect of terminating or in any way affecting any obligation of Lessee under, and in
accordance with the terms of, this Agreement. 

  

	5.10	The time stipulated in the Transaction Documents for all payments payable by Lessee thereunder and for the performance of Lessee’s other obligations under
the Transaction Documents will be of the essence. 

  

	5.11	If any payment under any Transaction Document falls due on a day which is not a Business Day, that payment will be due on the immediately preceding Business Day.

  

	5.12	Lessee shall comply with the additional payment provisions set out in Part 1 of Appendix 5. 

 

	5.13	Lessee shall pay Maintenance Reserves to Lessor upon the terms and subject to the conditions set out in Part 2 of Appendix 5. Lessee agrees that upon payment to
Lessor, all Maintenance Reserves shall irrevocably and unconditionally become the property of Lessor and Lessor shall be entitled to commingle the Maintenance Reserves with Lessor’s and/or its Affiliates’ general or other funds, and Lessor
will not hold any such funds as agent or on trust for Lessee or in any similar fiduciary capacity (without prejudice to the provisions set out Part 2 and Part 3 of Appendix 5). 

 

	5.14	Lessor will release funds to Lessee from the Maintenance Reserves upon the terms and subject to the conditions set out in Part 3 of Appendix 5.

  

	6	TAXATION 

 6.1 

 

	(a)	All payments by Lessee under or in connection with the Transaction Documents will be made without set-off or counterclaim, free and clear of and without deduction or
withholding for or on account of any Taxes (other than Lessor Taxes) unless such deduction or withholding is required by law in which event (but subject always to Clause 6.1(b)) Lessee shall: 

 

	 	(i)	deduct or withhold the amount legally required; 

  
 5 

	 	(ii)	pay to the relevant Government Entities within the period for payment permitted by applicable law the amount of the deduction or withholding; and

  

	 	(iii)	furnish to Lessor or the relevant Indemnitee after each payment an official receipt of the relevant Government Entities involved (or other evidence reasonably
acceptable to Lessor or such Indemnitee) for all amounts so deducted or withheld. 

  

	(b)	If Lessee is compelled by law to make any payment under or in connection with the Transaction Documents subject to any Tax (other than a Lessor Tax) and Lessor does not
actually receive for its own benefit on the due date a net amount equal to the full amount provided for under the Transaction Documents, Lessee will pay all necessary additional amounts to ensure receipt by Lessor of the full amount so provided for.

  

	6.2	Lessee will on demand pay and indemnify the Indemnitees against all Taxes (other than Lessor Taxes) levied or imposed against or upon Lessor or Lessee or any
other Indemnitee and relating to or attributable to Lessee, the Transaction Documents, including the payments due under the Transaction Documents, or the Aircraft directly or indirectly in connection with the importation, exportation, registration,
ownership, leasing, sub-leasing, wet-leasing, purchase, delivery, possession, use, operation, repair, maintenance, overhaul, transportation, landing, storage, presence or redelivery of the Aircraft or any part thereof or any rent, receipts,
insurance proceeds, income or other amounts arising therefrom. 

 6.3 

 

	(a)	If and to the extent that any sums payable to an Indemnitee by Lessee under any Transaction Document by way of indemnity or under this Clause 6 are insufficient, by
reason of any Taxes (other than Lessor Taxes) payable in respect of those sums, for the Indemnitee to discharge the corresponding liability to the relevant third party (including any Taxation authority), or to reimburse the Indemnitee for the cost
incurred by it to a third party (including any Taxation authority) Lessee will pay to that Indemnitee such sum as will after the Tax liability has been fully satisfied leave the Indemnitee with the same amount as it would have been entitled to
receive in the absence of that Tax liability together with interest on the amount of the deficit at the rate of interest stated in Clause 5.5 in respect of the period commencing on the date on which the payment of taxation is finally due until
payment by Lessee (both before and after judgment). 

  

	(b)	If and to the extent that any sums constituting (directly or indirectly) an indemnity to an Indemnitee but paid by Lessee to any person other than an Indemnitee are
treated as taxable in the hands of an Indemnitee, Lessee will pay to that Indemnitee such sum as will after the Tax liability has been fully satisfied indemnify that Indemnitee to the same extent as it would have been indemnified in the absence of
such Tax liability together with interest on the amount payable by Lessee under this Clause 6.3(b) at the rate of interest stated in Clause 5.5 in respect of the period commencing on the date on which the payment of taxation is finally due until
payment by Lessee (both before and after judgment). 

  

	6.4	Lessee will promptly pay: 

  

	(a)	all licence and registration fees, Taxes (other than Lessor Taxes) and other amounts of any nature imposed by any Government Entity upon or with respect to the Aircraft
including without limitation the importation, leasing, possession, use, operation or return of the Aircraft; 

  

	(b)	all rent, fees, charges, Taxes (other than Lessor Taxes) and other amounts in respect of any premises where the Aircraft or any Part thereof is located from time to
time; and 

  
 6 

	(c)	any and all charges incurred during the Term in connection with (i) the furnishing, issue or provision of information, directions and other facilities in
connection with the navigation or movement of aircraft (including the control or movement of vehicles in any part of an airport used for the movement of aircraft) and (ii) the landing, parking or taking off of aircraft at airports or for the
use of, or services provided at, airports (including, without limitation, all charges due to SENEAM), 

 except to
the extent such payment is being contested in good faith by appropriate proceedings, in respect of which adequate reserves have been provided by Lessee and the non-payment of which does not give rise to any risk of the Aircraft or any interest
therein being sold, forfeited, arrested, detained or otherwise lost or of civil or criminal liability on the part of any Indemnitee. 
  

	6.5	Lessee shall promptly pay any stamp or other documentary duties and Taxes (other than Lessor Taxes), and any notarial, translation or similar fees, to which this
Agreement or any other Transaction Document (other than any Mortgage) may be subject, or which is necessary for purposes of registration of this Agreement and the Bill of Sale with the Air Authority and Lessee shall pay to Lessor on demand the
amount of Losses which Lessor may incur as a result of any delay by Lessee in paying the same or any omission by the Lessee to pay the same. 

  

	6.6	If Lessee is liable to gross-up or indemnify under Clause 6.1 or Clause 6.2, then, without in any way limiting, reducing or otherwise qualifying any rights of
any Indemnitee or any obligations of Lessee under this Clause 6, Lessor shall: 

  

	(a)	promptly upon becoming aware of the liability arising notify Lessee thereof; and 

 

	(b)	in consultation in good faith with Lessee, for a period of up to thirty (30) days from the date of such notification, take such steps at the expense of Lessee as
may be open to it to mitigate the effects of such circumstances on Lessee, including, if requested by Lessee, the filing of any Tax form or return which any Indemnitee is legally able to file; 

provided that neither Lessor nor any Indemnitee shall be under any obligation to take or continue to take any such action or other steps
if an Event of Default has occurred and is continuing or if it is satisfied, in its absolute discretion, to do so would interfere with the right of Lessor or such Indemnitee to arrange its affairs (tax or otherwise) in whatever manner it thinks fit
or oblige Lessor or such Indemnitee to disclose any information relating to its affairs (tax or otherwise) or any computations in respect of Tax, or have a material adverse effect on its business, or operations or financial condition or reputation
or the financial basis under which, inter alia, the Transaction Documents have been entered into or would entail any cost or expense to Lessor or that Indemnitee (unless, in the case of any cost or expense, Lessor or that Indemnitee shall
have been indemnified or otherwise secured to its satisfaction) or is otherwise prejudicial to it. 
  

	6.7	If any Indemnitee in good faith determines that it has realised a tax benefit (by way of deduction, credit or otherwise) as a result of any payment for which
Lessee is responsible under this Clause 6, Lessor shall pay or use all reasonable endeavours to procure that the relevant Indemnitee pays to Lessee as soon as practicable after the tax benefit has been realised, an amount which the Indemnitee
determines will ensure that (after taking into account of the payment itself) such Indemnitee is in no better and no worse position than it would have been if the deduction had not applied. 

 

	6.8	 Without prejudice to the obligations of Lessee pursuant to Clause 6.1, Lessor will use reasonable endeavours to deliver to Lessee and will use
reasonable endeavours to procure that each other Indemnitee delivers to Lessee, as soon as reasonably practicable following receipt of Lessee’s written request therefor (accompanied by a copy of each requested document, any published
instructions for such document, and an English translation of each such document and instruction that is not in English), such forms, certifications and 

  
 7 

 
other documents as (i) an Indemnitee is entitled under applicable law to execute or obtain and (ii) are required by applicable law to permit Lessee to make any payment to or for the
account of such Indemnitee pursuant to this Agreement without withholding (or withholding at a reduced rate, as the case may be) any withholding Tax that Lessee would be required by any applicable law to withhold in the absence of such document
provided that nothing in this Clause 6.8 shall oblige Lessor or any other Indemnitee to take any action if in its reasonable opinion, acting in good faith, to do so would have a material adverse effect on its business, operations or reputation or
the financial basis on which the Transaction Documents have been entered into or would entail any cost or expense to Lessor or any other Indemnitee unless, in the case of any cost or expense, Lessee and each other Indemnitee shall have been
indemnified or otherwise secured to its satisfaction. Without prejudice to the generality of the foregoing provisions of this Clause 6.8, Lessor will use reasonable endeavours to provide to Lessee as soon as reasonably practicable after Delivery,
and in any event, no later than the first Rent Date falling after Delivery and on each anniversary of the Delivery Date falling during the Term, a statement from the Irish Tax Revenue Commissioners that Lessor is resident for tax purposes in
Ireland. 
  

	7	QUIET ENJOYMENT 

  

	7.1	Provided no Event of Default has occurred and is continuing under this Agreement, neither Lessor, the Lease Manager nor any person lawfully claiming by or
through Lessor or the Lease Manager will interfere with the quiet use, possession and enjoyment of the Aircraft by Lessee, but the exercise by Lessor, the Security Trustee or any Lender of its rights under or in connection with this Agreement or the
Assignment, in each case, pursuant to and in accordance with the terms of this Agreement or the Assignment (as the case may be) will not constitute such an interference. 

 

	7.2	Simultaneously with delivery of the Aircraft from Lessor to Lessee under this Agreement, Lessor shall procure that the Security Trustee provides to Lessee the
Quiet Enjoyment Letter subject to Lessee providing the Security Trustee with the Acknowledgement of the Assignment. 

  

	7.3	Lessor will not exercise any rights pursuant to the Deregistration Power of Attorney save where an Event of Default has occurred and is continuing.

  

	7.4	Lessor will not exercise any rights pursuant to the letter set out in Part 2 of Exhibit C save where an Event of Default has occurred and is continuing.

  

	7.5	Lessor will not exercise any rights pursuant to the letter set out in Part 1 of Exhibit C more frequently than quarterly, save where a Default has occurred and
is continuing. 

  

	8	LESSEE’S COVENANTS 

  

	8.1	Lessee hereby covenants with Lessor in the terms set out in Appendix 6. 

 

	9	INSURANCE AND TOTAL LOSS 

  

	9.1	Lessee hereby covenants with Lessor in the terms set out in Appendix 7. 

 

	9.2	The provisions of Part 3 of Appendix 7 shall apply if a Total Loss occurs or if there is any requisition for use or hire of the Aircraft, any Engine or Part
which does not constitute a Total Loss. 

  
 8 

	10	MANUFACTURER’S WARRANTIES 

  

	10.1	

  

	(a)	Pursuant to the terms of the Airframe Warranty Agreement and the Engine Warranties Agreement, with effect from the Delivery Date, Lessor will authorise Lessee to
exercise, such rights as Lessor may have in respect of the Airframe Warranties and the Engine Warranties respectively upon the terms and subject to the conditions contained in the Airframe Warranty Agreement and the Engine Warranties Agreement.

  

	(b)	Lessee shall give Lessor prompt written notice of any warranty claim which is settled with Lessee on the basis of a total or partial cash payment in excess of *****.
Lessee shall apply any cash payments whether above or below ***** to remedy the defect or, if any part of the cash payment has been made by the Manufacturer in respect of Lessee’s loss of use of the Aircraft, as compensation to Lessee for any
loss of use of the Aircraft arising as a result of such defect. Any cash payments to Lessee in respect of warranty claims which are not applied to the repair or remedy of defects in the Aircraft, and which are not in respect of compensation for loss
of use of the Aircraft during the Term due to a defect covered by such warranty, shall be for Lessor’s account and shall be paid by Lessee to Lessor. 

  

	(c)	Upon the occurrence of the earlier of an Event of Default or termination or expiry of the leasing of the Aircraft under this Agreement (each a “Termination
Event”): 

  

	 	(i)	all rights under the Airframe Warranties and the Engine Warranties will immediately revert to Lessor, including all claims thereunder (whether or not perfected except
(aa) to the extent necessary to reimburse Lessee the actual costs incurred by it for the repair of any defect or, (bb) if any part of the cash payment has been made by the Manufacturer in respect of Lessee’s loss of use of the Aircraft, to
compensate Lessee for any loss of use of the Aircraft suffered by it during the Term as a result of the defect) and Lessee will immediately take all steps and execute all documents required by Lessor to perfect such reversion; and

  

	 	(ii)	Lessor may retain for its own account any such proceeds previously paid to Lessor which would have been remitted to Lessee under this Clause 10 in the absence of such
Event of Default or such Termination Event (arising otherwise than as a result of an Event of Default), as the case may be, cause any proceeds of any pending claims to be paid to Lessor, rather than to Lessee and recover from Lessee the proceeds of
any such claims previously paid to Lessee to the extent that such claims relate to any defect in the Aircraft not fully and completely rectified by Lessee before such Event of Default or Termination Event (arising otherwise than as a result of an
Event of Default), as the case may be and, in the absence of such an Event of Default, not constituting compensation for loss of use during the Term. 

  

	10.2	To the extent any warranties relating to the Aircraft are made available under an agreement between any manufacturer, seller, subcontractor or supplier and
Lessee, Lessee will: 

  

	(a)	pay the proceeds of any claim thereunder in accordance with Clause 10.1 and pending such payment will hold the claim and the proceeds on trust for Lessor; and

  

	(b)	Lessee will take all such steps as are necessary at the end of the Term to ensure the benefit of any of those warranties which have not expired are vested in Lessor.

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 9 

	11	INDEMNITY 

  

	11.1	Lessee agrees to defend, indemnify and hold harmless the Indemnitees from and against any and all claims, proceedings, losses, liabilities, suits, judgments,
costs, expenses, penalties or fines (each a “Claim”) regardless of when the same is made or incurred, whether during or after the Term: 

  

	(a)	which may at any time be suffered or incurred directly or indirectly as a result of or connected with the possession, importation, delivery, performance, management,
ownership, registration, control, maintenance, condition, service, repair, overhaul, leasing, use, operation, storage, transport or return of the Aircraft, any Engine or Part (either in the air or on the ground) whether or not the Claim may be
attributable to any defect in the Aircraft, any Engine or any Part or to its design, testing or use or otherwise, and regardless of when the same arises or whether it arises out of or is attributable to any act or omission, negligent or otherwise,
of any Indemnitee; 

  

	(b)	which arise out of any act or omission which invalidates or which renders voidable any of the Insurances; and 

 

	(c)	which may at any time be suffered or incurred as a consequence of any design, article or material in the Aircraft, any Engine or any Part or its operation or use
constituting an infringement of patent, copyright, trademark, design or other proprietary right or a breach of any obligation of confidentiality owed to any person, 

but excluding any Claim in relation to a particular Indemnitee to the extent that such Claim: 

 

	 	(i)	is covered pursuant to another indemnity provision of any Transaction Document; or 

 

	 	(ii)	arises solely as a result of the wilful misconduct or Gross Negligence of that Indemnitee under any Transaction Document; or 

 

	 	(iii)	relates to Lessor Taxes or a Lessor Lien attributable to that Indemnitee; or 

 

	 	(iv)	arises solely as a result of any breach by that Indemnitee of any express obligation owed to Lessee under this Agreement or any other Transaction Document; or

  

	 	(v)	relates solely to either (a) any period or event occurring prior to the Delivery Date (save for any stamp duty or other Taxes imposed in connection with the
execution and/or registration of any of the Transaction Documents) or (b) any period commencing or event occurring after the Expiry Date and return of the Aircraft in the condition required by this Agreement and which is unrelated to any act or
omission of Lessee or the use or possession by Lessee of the Aircraft during the Term or the transactions contemplated by the Transaction Documents. 

  

	11.2	The indemnities contained in this Agreement will continue in full force after the Expiry Date. 

 

	11.3	All rights expressed to be granted to each Indemnitee (other than Lessor) under this Agreement are given to Lessor on behalf of each such Indemnitee.

  

	12	RETURN OF AIRCRAFT 

 The
provisions of Appendix 8 shall govern the parties’ respective rights and obligations regarding the return of the Aircraft. 
  

	13	DEFAULT 

  

	13.1	Each of the events specified in Part 1 of Appendix 9 will constitute an Event of Default and a repudiation of this Agreement by Lessee. 

 

	13.2	The provisions of Part 2 of Appendix 9 shall govern the respective rights and obligations of the parties following the occurrence of a Default or an Event of
Default. 

  
 10 

	13.3	If Lessee fails to comply with any provision of any Transaction Document, Lessor may, without being in any way obliged to do so or responsible for so doing and
without prejudice to the ability of Lessor to treat the non-compliance as an Event of Default, effect compliance on behalf of Lessee, whereupon Lessee shall become liable to pay immediately any sums expended by Lessor together with all costs and
expenses (including legal costs) in connection therewith. 

  

	13.4	The rights of Lessor under the Transaction Documents may be exercised as often as necessary, are cumulative and not exclusive of its rights under any law and may
be waived only in writing and specifically. Delay in exercising or non-exercise of any such right will not constitute a waiver of that right. 

  

	14	ASSIGNMENT 

  

	14.1	The provisions set out in Appendix 10 shall govern assignment and/or transfer of Lessee’s and Lessor’s rights and obligations under this Agreement.

  

	15	ILLEGALITY 

  

	15.1	If it becomes, or will become, illegal for either Lessor or Lessee to perform its obligations or to enforce its rights under any Transaction Document or to
participate in the transactions contemplated thereby, Lessor or Lessee (as the case may be) shall, promptly upon becoming aware of such cessation or illegality, notify the other party thereof (such notice being referred to herein as an
“Illegality Notice”). Subject to any restrictions imposed on the party affected by such illegality and provided that the rights of the other party are not adversely impacted by such illegality, the parties shall, following service
or receipt of an Illegality Notice, negotiate in good faith for a period (the “Consultation Period”) of up to thirty (30) days from the date of the Illegality Notice (or such shorter period as may end on the date on which such
illegality takes effect) with a view to restructuring the arrangements contemplated by the Transaction Documents so as to avoid such illegality. The party for whom it becomes illegal to perform its obligations or to enforce its rights under the
Transaction Documents or to participate in the transactions contemplated thereby shall reimburse the other parties involved in such consultations for their reasonable legal and other expenses incurred in connection with such consultations and the
implementation of arrangements (if any) agreed during such consultations. Lessee acknowledges that the Security Trustee or any Lender may, at no cost to Lessee, also participate in such consultations. 

 

	15.2	If no satisfactory arrangement for restructuring the transactions contemplated by the Transaction Documents is agreed by the end of the Consultation Period,
Lessor may, by written notice to Lessee, terminate the leasing of the Aircraft under this Agreement with effect from the date of such notice (if the illegality has become effective on or before such date) or otherwise with effect from the last
Business Day before the illegality takes effect, whereupon the Lessee shall forthwith redeliver the Aircraft to Lessor in accordance with Appendix 8. 

  

	16	NOTICES 

  

	16.1	All notices under, or in connection with, the Transaction Documents will, unless otherwise stated, be given in writing by letter or facsimile. Any such notice is
deemed effectively to be given as follows: 

  

	(a)	if by letter, when delivered personally or, if sent by registered post, on the third day after posting; and 

 

	(b)	if by facsimile, when transmitted and confirmed by the transmitting party’s fax machine. 

  
 11 

	16.2	The address, facsimile and telephone numbers of Lessee and Lessor are as follows: 

 

							
	(a)	  	Lessee:	  	Address:	  	 Av. Prolongación Paseo de la Reforma 490 Piso 1,
 Col. Santa Fe Pena Blanca,
 01210 Mexico

				
		  		  	Attn:	  	General Counsel/Director Juridico
		  		  	Facsimile:	  	+52 55 52 61 6460
		  		  	Telephone:	  	+52 55 52 61 6400
				
	(b)	  	Lessor:	  	Address:	  	 28 Upper Mount Street

Dublin 2
 Ireland

				
		  		  	Attn:	  	Company Secretary
		  		  	Facsimile:	  	+353 1 639 8118
		
		  	(with a copy to Amentum Capital Limited :
				
		  		  	Address:	  	 28 Upper Mount Street

Dublin 2
 Ireland

				
		  		  	Attn:	  	Company Secretary
		  		  	Facsimile:	  	+353 1 639 8118
		  		  	Telephone:	  	+353 1 6398111)

  

	16.3	All notices to be given under the Transaction Documents will be in English. All documents delivered to Lessor pursuant to the Transaction Documents will be in
English, or if not in English, will be accompanied by a certified English translation. 

  

	17	DISCLAIMERS AND WAIVERS 

  

	17.1	THE AIRCRAFT IS DELIVERED “AS IS, WHERE IS” AND LESSEE AGREES AND ACKNOWLEDGES THAT AS BETWEEN LESSOR, LESSEE AND THE INDEMNITEES NEITHER LESSOR
NOR ANY OTHER INDEMNITEE WILL HAVE ANY LIABILITY IN RELATION TO, AND NEITHER LESSOR NOR ANY OTHER INDEMNITEE HAS NOR WILL BE DEEMED TO HAVE MADE OR GIVEN, ANY WARRANTIES OR REPRESENTATIONS, EXPRESS OR IMPLIED, WITH RESPECT TO, THE AIRCRAFT,
INCLUDING BUT NOT LIMITED TO: 

  

	(a)	THE DESCRIPTION, AIRWORTHINESS, MERCHANTABILITY, FITNESS FOR ANY USE OR PURPOSE, VALUE, CONDITION, OR DESIGN, OF THE AIRCRAFT OR ANY PART; OR 

 

	(b)	ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY IN TORT, WHETHER OR NOT ARISING FROM LESSOR’S OR ANY OTHER INDEMNITEE’S NEGLIGENCE, ACTUAL OR IMPUTED; OR

  

	(c)	ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY FOR LOSS OF OR DAMAGE TO THE AIRCRAFT, FOR ANY LIABILITY OF LESSEE TO ANY THIRD PARTY, OR FOR ANY OTHER DIRECT,
INCIDENTAL OR CONSEQUENTIAL DAMAGES. 

  

	17.2	LESSEE HEREBY WAIVES, AS BETWEEN ITSELF AND EACH INDEMNITEE, ALL ITS RIGHTS IN RESPECT OF ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, ON THE PART OF ANY
INDEMNITEE AND ALL CLAIMS AGAINST EACH INDEMNITEE HOWSOEVER AND WHENEVER ARISING AT ANY TIME IN RESPECT OF OR OUT OF THE OPERATION OR PERFORMANCE OF THE AIRCRAFT. 

  
 12 

	17.3	LESSEE CONFIRMS THAT IT IS FULLY AWARE OF THE PROVISIONS OF THIS CLAUSE AND THE OTHER TERMS OF THIS AGREEMENT AND ACKNOWLEDGES THAT THE TERMS OF THIS AGREEMENT
HAVE BEEN AGREED AND THE RENT AND OTHER AMOUNTS HAVE BEEN CALCULATED NOTWITHSTANDING ITS PROVISIONS. 

  

	18	CONFIDENTIALITY 

  

	18.1	Lessor and Lessee agree that the Transaction Documents and information supplied pursuant to the Transaction Documents are to be kept confidential, subject to the
exceptions, set forth in this Clause 18. Neither party will disclose or permit its officers, agents or advisers to disclose any information from or in connection with the Transaction Documents without the consent of the other or to use any such
information for any purpose other than for the purpose of the transactions contemplated by the Transaction Documents, except: 

  

	(a)	for disclosures of the terms of the Transaction Documents and any information provided under this Agreement made by Lessor to any actual or potential assignee or
transferee permitted by Appendix 10 or to any actual or potential Lender or Security Trustee or to their respective professional advisers, provided that (i) Lessor has obtained a confidentiality undertaking in respect of such information from
each such person or (ii) such person is subject to a recognised duty of confidentiality; 

  

	(b)	for disclosures made by either party to its professional advisers, shareholders and any rating agency or as may be required by law or legal process or by the
administrative or regulatory requirements of any recognised stock exchange on which such party’s or its shareholders’ shares are listed; 

  

	(c)	for disclosures made by or on behalf of either party or any Indemnitee to any governmental or other official body in connection with the registration of any Transaction
Document, the Mortgage or the Assignment or otherwise reasonably advisable in order to establish, maintain, protect and enforce the rights and remedies of either party hereto or any Indemnitee under the Transaction Documents, the Mortgage or the
Assignment; 

  

	(d)	Lessee may deliver a copy of this Agreement to International Finance Corporation (“IFC”) pursuant to and in accordance with the facility agreement
between Lessee and the Guarantor and IFC and IFC may disclose this Agreement to its legal advisers and other professional advisers provided such persons are under a recognised duty of confidentiality or have executed a confidentiality undertaking or
to a rating agency or to any potential assignee or transferee of IFC, subject to the receipt by Lessee of a confidentiality undertaking from each such assignee or transferee, 

provided that notwithstanding the foregoing provisions of this Clause 18, Lessor may only disclose the Agreed Maintenance Programme to
third parties who are either bound by a duty of confidentiality or have executed a confidentiality undertaking. 
  

	19	LAW AND JURISDICTION 

  

	19.1	This Agreement, including any non-contractual obligations arising out of or in connection with, this Agreement is governed by and this Agreement shall be
construed in accordance with the laws of Ireland. 

  

	19.2	 The parties hereto irrevocably agree that any legal action or proceedings in connection with this Agreement may be brought in the courts of
Ireland. The parties further agree that any party may take proceedings against the other in the courts of the domicile of the 

  
 13 

	 	
parties or where the Aircraft is located, hereby waiving any jurisdiction not referred to in this Clause 19.2. The courts agreed to in this paragraph shall have jurisdiction to settle any
disputes arising out of or in connection with this Agreement. 

  

	19.3	Lessee hereby irrevocably designates, appoints and empowers Matsack Trust Limited, 70 Sir John Rogerson’s Quay, Dublin 2, Ireland, to receive for it and on
its behalf service of process issued out of the Irish courts in any legal action or proceeding arising out of or in connection with this Agreement and/or any other Transaction Document to which it is a party. 

 

	19.4	Each of the parties irrevocably waives any objection it may now or hereafter have to the laying of venue of any action or proceeding in any court and any claim
it may now or hereafter have that any action or proceeding has been brought in an inconvenient forum. 

  

	19.5	Each party irrevocably and unconditionally: 

  

	(a)	agrees that if the other brings legal proceedings against it or its assets in relation to this Agreement, no immunity from such legal proceedings will be claimed by it;

  

	(b)	waives any such right of immunity which it or its assets now has or may in the future acquire; and 

 

	(c)	consents generally in respect of any such proceedings to the giving of any relief or the issue of any process in connection with such proceedings including, without
limitation, the making, enforcement or execution against any property whatsoever (irrespective of its use or intended use) of any order or judgment which may be made or given in such proceedings. 

  
 14 

 IN WITNESS whereof the parties hereto have executed this Agreement on the date shown at the beginning
of this Agreement. 
 SIGNED on behalf of CONCESIONARIA VUELA 
 COMPAÑÍA DE AVIACIÓN, S.A.P.I DE C.V. 
  

			
	By:	 	 /s/ Fernando Suárez Gerard

	Name:	 	Fernando Suárez Gerard
	Title:	 	CFO
		
	By:	 	 /s/ Mario E. Geyne Pliego

	Name:	 	Mario E. Geyne Pliego
	Title:	 	Financial and Fleet Planning Director

 SIGNED on behalf of AMENTUM AIRCRAFT LEASING NO. THREE LIMITED 

 

			
	By:	 	 /s/ Mitchel Simpson

	Name:	 	Mitchel Simpson
	Title:	 	Chief Financial Officer

  
 15 

 APPENDIX 1 
 PART 1 
 DEFINITIONS 

““A” Check” means a package of scheduled maintenance tasks with repeat intervals up to 600 Flight Hours, 6 months and
500 Cycles (including any lesser tasks) performed by an Agreed Maintenance Performer in accordance with the Agreed Maintenance Programme. 

“Acknowledgement of Assignment of Guarantee” means the acknowledgement from the Guarantor to Lessor and the Security Trustee in respect
of the Assignment in the form of Part 1 of Exhibit A. 
 “Acknowledgement of Assignment of Lease” means the acknowledgement
from Lessee to Lessor and the Security Trustee in respect of the Assignment in the form of Part 2 of Exhibit A. 
 “Agreed Maintenance
Performer” means Lessee, Aeromantenimiento S.A. and any person which is approved by, and holds all necessary licences from, the Air Authority and holding a valid repair station certificate for maintenance work on the Airframe, Landing Gear,
APU, Engine and Parts issued by the FAA or EASA or, in respect of any “A” Check, any maintenance facility approved by the Air Authority. 
 “Agreed Maintenance Programme” means the Maintenance Programme for the Aircraft from time to time as approved by the Air Authority which shall be based on the Maintenance Planning
Document. 
 “Agreed Value” means with respect to the period from the Delivery Date up to but excluding the first anniversary
of the Delivery Date, ***** and thereafter reducing on each anniversary of the Delivery Date by an amount equal to ***** of the amount of the Agreed Value on the previous such anniversary or the Delivery Date as applicable. 

“Affiliate” means in relation to any person (the “First Person”): 

 

	(a)	any person controlled by the First Person; 

  

	(b)	any person who controls such First Person; 

  

	(c)	any person controlled by the same person who controls the First Person, 

 (and for this purpose “Control” means either the ownership of more than fifty per cent. (50%) of the voting share capital (or equivalent right of ownership) of a person or power to
direct its policies and management whether by contract or otherwise). 
 “Air Authority” means all and any of the authorities,
government departments, committees or agencies which under the laws of the State of Registration shall from time to time: 
  

	(a)	have control or supervision of civil aviation in that state; or 

  

	(b)	have jurisdiction over the registration, airworthiness or operation of, or other matters relating to, the Aircraft. 

“Aircraft” means the aircraft described in Appendix 2, (which term includes where the context admits a separate reference to the
Engines, Parts and Aircraft Documents) (but for the avoidance of doubt excludes any engine or part installed on the Aircraft title to which is not required by this Agreement to be passed to or vested in Lessor). 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 16 

 “Aircraft Documents” means all such technical data, documents, manuals and log books and
any other records relating to the Aircraft which Lessee is required to keep and maintain to comply with the regulations of the Air Authority and FAA and all additions, renewals, revisions and replacements from time to time made in accordance with
this Agreement and shall include: 
  

	(a)	without limitation, at Delivery, those documents delivered to Lessee by Lessor; and 

 

	(b)	at redelivery, those documents set out in Part 3 of Appendix 8. 

 “Airframe” means the Aircraft, excluding the Engines and Aircraft Documents. 

“Airframe Manufacturer” means Airbus S.A.S. 
 “Airframe Warranties” means the warranties in respect of the Aircraft specified in the Airframe Warranty Agreement. 
 “Airframe Warranty Agreement” means the airframe warranty agreement entered into or to be entered into on or prior to the Delivery Date between Lessee, Lessor, the Security Trustee and
the Airframe Manufacturer. 
 “Airworthiness Directive” or “AD” means any airworthiness directive issued or
endorsed by the FAA, the EASA and/or the Air Authority applicable to the Airframe, any Engine, any Part or the Aircraft Documents. 

“APU” means the auxiliary power unit installed on the Aircraft at Delivery and any replacement auxiliary power unit installed on the
Aircraft in accordance with this Agreement and in each case includes any attaching Part. 
 “APU Available Balance” shall have
the meaning ascribed to such term in part 2 of Appendix 5. 
 “APU Hours” means each hour or part of an hour during which the
APU is operated. 
 “APU Initial Balance” shall have the meaning ascribed to such term in part 2 of Appendix 5. 

“APU Performance Restoration” means a shop visit which restores performance and durability of the APU so as to return the APU to service
for a complete APU run interval and shall include a Heavy Repair (as defined in the Honeywell Shop Maintenance Philosophy) or APU overhaul as required by the APU manufacturer’s component maintenance manual. 

“Arranger” means HSH Nordbank AG, in its capacity as head arranger under Lessor’s financing arrangements. 

“Assignment” means any present or future assignment in favour of the Security Trustee of Lessor’s rights in respect of, amongst
other things, this Agreement, the Insurances, any Letter of Credit, the Guarantee, the Deposit and the Maintenance Reserves as security for Lessor’s obligation to the Lenders. 
 “Assignment of Insurances” means the assignment of Lessee’s rights, title, benefit and interest in and to the Insurances (other than the liability insurances) entered into or to be
entered into on or prior to the Delivery Date between Lessor as assignee and Lessee as assignor. 
 “Bill of Sale” means the
bill of sale transferring ownership of the Aircraft from the Airframe Manufacturer to Lessor. 
 “Business Day” means a day
(other than a Saturday or Sunday) on which business of the nature required by this Agreement is carried out in Ireland and Mexico or, where used in relation to payments, on which banks are open for business in Dublin, Ireland and New York.

  
 17 

 “Certificate of Acceptance” means a certificate of acceptance in respect of the Aircraft
duly executed by Lessee substantially in the form of Exhibit B. 
 ““C” Check” means a package of scheduled
maintenance tasks with repeat intervals of 20 months 6,000 Flight Hours or 4,500 Cycles performed by an Agreed Maintenance Performer in accordance with the Maintenance Planning Document in effect on the relevant date. 

“Claim” has the meaning given to it in Clause 11.1. 
 “Consolidated Text” means the Consolidated Text of the Convention and the Protocol attached to resolution No. 1 of the Final Act of the Diplomatic conference to adopt the Convention
and the Protocol held under the auspices of ICAOP and UNIDROIT at Cape Town, South Africa from 29 October to 16 November, 2001. 

“Convention” means the Convention on International Interests in Mobile Equipment signed in Cape Town, South Africa on 16 November,
2001. 
 “CPCP” means corrosion prevention and control programme. 
 “Cycle” means , in relation to the Airframe, one take-off and landing of the Aircraft, and in relation to an Engine, an APU, or a Landing Gear, or any fitted component installed in any of
the foregoing one take off and landing of any aircraft on which that Engine, APU, or Landing Gear or any other fitted component, as the case may be, is installed. 
 “Default” means any Event of Default and any event which with the giving of notice, lapse of time or determination of materiality would constitute an Event of Default. 

“Delivery” means delivery of the Aircraft by Lessor to Lessee under this Agreement. 

“Delivery Check Flight” has the meaning given to such term in Part 1 of Appendix 7A. 

“Delivery Condition” means the condition of the Aircraft as specified in Part 2 of Appendix 7A. 

“Delivery Date” means the date on which Delivery takes place. 
 “Delivery Location” means Lufthansa Technik Philippines facility in Manila, Philippines. 
 “Deposit” means the amount equal to ***** paid or payable to by Lessee to Lessor in cash or provided or to be provided by Lessee to Lessor by way of Letter of Credit, in each case, in
accordance with Clause 5. 
 “Deregistration Power of Attorney” means a deregistration and export power of attorney in the form
of Exhibit D or in such other form agreed by Lessor. 
 “Dollars” and “$” means the lawful currency of the
United States of America. 
 “EASA” means the European Aviation Safety Agency established by the European Parliament and the
Council of the European Union under Regulation (EC) Number 1592/2002 or any other organisation or authority that, under the laws of the European Union, shall from time to time have jurisdiction over, amongst other things, aircraft airworthiness and
aircraft safety standards for the European Union. 
 “Emergency Operations” means any deviation in an agreed flight path of the
Aircraft to a Prohibited Jurisdiction made solely in order to protect the Aircraft or the lives, safety and/or wellbeing of the passengers and crew and provided Lessee shall promptly remove the Aircraft from such Prohibited Jurisdiction upon
cessation of the conditions giving rise to the relevant flight path deviation. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 18 

 “EMMP” means the latest revision of the engine maintenance management programme of Lessee
for the Engines adapted from the latest revision of the Engine Manufacturer’s engine maintenance management programme. 

“Engine” means whether or not installed on the Aircraft: 

 

	(a)	each engine of the manufacture and model specified in Appendix 2 such engines being described as to serial numbers on the Certificate of Acceptance to be executed by
Lessee upon delivery of the Aircraft under this Agreement; and 

  

	(b)	any Suitable Replacement Engine which has replaced that engine in accordance with the terms of this Agreement, 

and in each case includes all modules and Parts from time to time belonging to or installed in that engine but excludes any Replaced Engine title to
which has passed to Lessee pursuant to this Agreement (and, for the avoidance of doubt, the term “Engine” excludes any engine installed on the Aircraft title to which is not required by this Agreement to be passed to or vested in
Lessor). 
 “Engine LLPs” means each or any of the Engine Manufacturer’s certified cyclic life controlled parts as
specified in the Engine Manufacturer’s “Time Limits Manual”. 
 “Engine Loss” means the occurrence of any of the
events referred to in the definition of “Total Loss” but with references therein to “Aircraft” being construed as references to any Engine. 
 “Engine Manufacturer” means IAE International Aero Engines AG. 
 “Engine
Performance Restoration” means, in respect of any Engine, the performance of a refurbishment of such Engine to clear it until its next anticipated Engine Performance Restoration (including, without limitation, the completion of a Level 3
Refurbishment on each of the high pressure turbine, the high pressure compressor and the combuster) in all cases in accordance with the maintenance procedures and soft times as defined in the EMMP (excluding any LRU’s on such Engine).

 “Engine Warranties” means, in respect of each Engine, the warranties in respect of those Engines specified in the Engine
Warranties Agreement. 
 “Engine Warranties Agreement” means the engine warranties agreement entered into or to be entered into
on or before the Delivery Date between the Engine Manufacturer, the Security Trustee, Lessor and Lessee. 
 “Event of Default”
means any of the events listed in Part 1 of Appendix 9. 
 “Expiry Date” means: 

 

	(a)	the Scheduled Expiry Date; or 

  

	(b)	the date on which the leasing of the Aircraft to Lessee is terminated or expressed to expire under and in accordance with the provisions of this Agreement; or

  

	(c)	the date on which Lessor receives the Agreed Value following a Total Loss. 

 “FAA” means the Federal Aviation Administration of the United States of America and any successor thereof. 
 “Facility Agent” means HSH Nordbank AG or such other institution or institutions as Lessor may from time to time advise Lessee in writing. 

“Final Delivery Date” means ***** or such later date as the parties may agree. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 19 

 “Financial Indebtedness” means any indebtedness for or in respect of: 

 

	(a)	moneys borrowed; 

  

	(b)	any amount raised by acceptance under any acceptance credit facility; 

  

	(c)	any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan stock or any similar instrument; 

 

	(d)	the amount of any liability in respect of any lease or hire purchase contract which would, in accordance with Mexican GAAP or IFRS (whichever methodology is used by
Lessee with respect to the preparation of its financial statements) be treated as a finance or capital lease; 

  

	(e)	receivables sold or discounted as a means of raising money (other than any receivables to the extent they are sold on a non-recourse basis); 

 

	(f)	any amount raised under any other transaction (including any forward sale or purchase agreement) having the commercial effect of a borrowing; 

 

	(g)	any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price (and, when calculating the value of any
derivative transaction, only the market to market value shall be taken into account); 

  

	(h)	any counter-indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary letter of credit or any other instrument issued by a bank or
financial institution; and 

  

	(i)	the amount of any liability in respect of any guarantee or indemnity for any of the items referred to in paragraphs (a) to (h) above.

 “Fleet Aircraft” means any other aircraft owned or operated by Lessee. 

“Flight Hour” means in relation to the Aircraft, each hour or part thereof (rounded up to two decimal places) elapsing from the moment
the wheels of the Aircraft leave the ground on take off until the wheels of the Aircraft next touch the ground and in relation to an Engine, a Landing Gear, an APU and a Part each hour or part thereof (rounded up to two decimal places) elapsing from
the moment the wheels of an aircraft on which that Engine, the Landing Gear, the APU or the Part, as the case may be, is installed leaves the ground on take off until the wheels of that aircraft next touch the ground. 

“Government Entity” means (a) any national government, political subdivision thereof, or local jurisdiction therein; or
(b) any instrumentality, board, commission, court, tribunal or agency of any thereof, however constituted; or (c) any association, organisation, or institution of which any of the above is a member or to whose jurisdiction any thereof is
subject or in whose activities any of the above is a participant. 
 “Gross Negligence” means an act or omission which is done
deliberately with intent to cause loss or damage or recklessly and with knowledge, that damage, death, delay, injury or loss would possibly result. 
 “Guarantee” means the guarantee dated the date of this Agreement executed by the Guarantor in favour of Lessor in respect of Lessee’s obligations to Lessor under the Transaction
Documents. 
 “Guarantor” means Controladora Vuela Compañía de Aviación, S.A.P.I. de C.V., a company
organised and validly existing under the laws of Mexico. 

  
 20 

 “Habitual Base” means Mexico or such other jurisdiction as agreed to by Lessor pursuant to
the terms of this Agreement. 
 “IDERA” means an irrevocable deregistration and export request authority in the form set out in
Annex 1 to the Convention. 
 “IFRS” means the International Financial Reporting Standards, being the guidelines and rules set
from time to time by the International Accounting Standard Board that companies and organisations can follow when compiling financial statements; 
 “Indemnitees” means: 
  

	(a)	each of Lessor, the Lease Manager, the Security Trustee, the Facility Agent, the Arranger and the Lenders, including, any of their respective successors and permitted
assigns, shareholders, Subsidiaries and Affiliates and their respective directors, officers, agents and employees; and 

  

	(b)	Lufthansa Technik AG and Lufthansa Technik Philippines Inc. (including their respective successors, and each of their respective employees, directors and officers) for:

  

	 	(i)	a period of ***** commencing on the Delivery Date; and 

  

	 	(ii)	the purposes of the aviation general legal liability insurance only (and it being agreed that none of the persons listed in this paragraph (b) shall constitute an
Indemnitee for any other purpose whatsoever) other than any claims arising out of or in connection with their capacity as manufacturer, repairer or servicing agent. 

 “Insurances” has the meaning given to it in paragraph 1 of Part 1 of Appendix 7. 

“International Interest” has the meaning given to it in the Convention. 
 “International Registry” has the meaning given to it in the Convention. 

“Landing Gear” means the landing gear assembly of the Aircraft including any attaching Part. 

“Landing Gear Overhaul” means a full overhaul of the Landing Gear as required by the Maintenance Planning Document and in accordance
with the manufacturer’s procedures. 
 “LC Amount” has the meaning given to such terms in Clause 5.2; 

“Lease Manager” means Amentum Capital Limited, a company incorporated in Ireland or such other entity the Lessor notifies to the Lessee.

 “Lenders” means such financial institution(s) which from time to time participate in the financing of the Aircraft for
Lessor and/or for whose benefit security over, or rights relating to, the Aircraft and/or this Agreement and/or the Insurances is granted by Lessor or at Lessor’s request. 
 “Lessor Lien” means: 
  

	(a)	any Assignment, any Mortgage and any security interest whatsoever from time to time created by or through Lessor in connection with the financing of the Aircraft; or

  

	(b)	any other security interest in respect of the Aircraft which results from acts of or claims against Lessor, the Lease Manager or their respective Affiliates or
Subsidiaries not related to the transactions contemplated by or permitted under this Agreement; or 

  

	(c)	liens in respect of the Aircraft for Lessor Taxes. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 21 

 “Lessor Taxes” means Taxes in respect of any Indemnitee: 

 

	(a)	imposed as a direct result of activities of that Indemnitee in the jurisdiction imposing the liability unrelated to the transactions contemplated by the Transaction
Documents, such Indemnitee’s dealings with Lessee or the use or operation of the Aircraft or any part thereof by Lessee; or 

  

	(b)	imposed on the net income, gross profits or gains of that Indemnitee by any Government Entity in the country of incorporation of the Indemnitee or any other
jurisdiction where that Indemnitee has a place of business, in each case unrelated to the transactions contemplated by the Transaction Documents, such Indemnitee’s dealings with Lessee or the use or operation of the Aircraft or any part thereof
by Lessee; or 

  

	(c)	imposed with respect to either (a) any period or event occurring prior to the Delivery Date (save for any stamp duty or other Taxes imposed in connection with the
execution and/or registration of any of the Transaction Documents) or (b) any period commencing or event occurring after the Expiry Date and unrelated to the transactions contemplated by the Transaction Documents or the use or operation of the
Aircraft or any part thereof by Lessee; or 

  

	(d)	imposed solely as a direct result of the Gross Negligence or wilful misconduct of that Indemnitee or breach by that Indemnitee of any of its express obligations to
Lessee and/or Guarantor under any of the Transaction Documents, but excluding any such breach which is attributable to or arises out of any breach by Lessee of its obligations under this Agreement or any other Transaction Document or any Event of
Default; or 

  

	(e)	imposed solely as a direct result of a voluntary or involuntary sale, transfer, assignment, novation or other disposition by such Indemnitee of all or part of an
interest in the Aircraft or any part thereof or this Agreement, save for the Assignment, the Mortgage and/or any such sale, transfer, assignment or disposition which has occurred directly or indirectly as a result of an Event of Default and/or any
such sale, assignment, transfer or disposition which has occurred with the consent of Lessee pursuant to Clause 6.6, Clause 15 or Clause 19; or 

  

	(f)	to the extent that the same are imposed or arise solely as a result of a Lessor Lien attributable to that Indemnitee; or 

 

	(g)	to the extent attributable to the failure of that Indemnitee to comply with Clause 6.8 of this Agreement; 

 

	(h)	to the extent that the same arise as a result of any financing arrangements entered into by such Indemnitee in connection with this Agreement and are not related to the
use, operation, leasing, maintenance, condition, design, defect, insurance or any other matters set forth in Clauses 11.1(a) to (c) inclusive of this Agreement; or 

 

	(i)	to the extent that the same are increased solely by reason of Lessor voluntarily changing, after the date of this Agreement the jurisdiction in which it is resident for
tax. 

 “Letter of Credit” means a letter of credit which meets the requirements set out in paragraph 2 of Part 1
of Appendix 5; 
 “Level 3 Refurbishment” has the meaning given to it in the latest revision of the Engine Manufacturer’s
engine management programme. 
 “LIBOR” means, in respect of the applicable period for the calculation of default interest
hereunder or in respect of any Rental Period for the calculation of Rent under Clause 5: 
  

	(a)	the applicable Screen Rate; or 

  
 22 

	(b)	if no Screen Rate is available for Dollars for the applicable interest period or Rental Period, as the case may be, the arithmetic mean (rounded upward to four decimal
places) of the rates, as supplied to the Lessor at its request, quoted by the Reference Banks to leading banks in the London interbank market, 

 for the offering of deposits in Dollars for the applicable interest period or Rental Period, as the case may be, as of 11.00 a.m. (London time) two (2) Business Days before the first day of such
period. 
 “Life Limited Part” means any Part that has a pre-determined life limit as mandated by Manufacturer, the Air
Authority, FAA, EASA or any other Government Entity, as the context requires, which requires any such Part to be discarded upon reaching such life limit. 
 “Loan Agreement” means the Loan Agreement dated 7 July 2008 between Lessor, as borrower and HSH Nordbank AG as arranger, original lender, the agent and the security trustee (as
amended and/or supplemented from time to time). 
 “Loss” means any cost, expense, financial liability, damage or monetary loss
of any kind. 
 “LRU” means a line replacement unit. 
 “Maintenance Planning Document” or “MPD” means the latest revision of the maintenance planning document issued by the Airframe Manufacturer in respect of the same type of
aircraft as the Aircraft. 
 “Maintenance Programme” means Lessee’s Air Authority approved maintenance programme for the
Aircraft in accordance with the Maintenance Planning Document encompassing scheduled maintenance (including block maintenance), condition monitored maintenance, and/or on-condition maintenance of Airframe, Engines and Parts, including but not
limited to, servicing, testing, preventive maintenance, repairs, structural inspections, system checks, overhauls, corrosion control, inspection and treatments. 
 “Maintenance Reserves” has the meaning given to it in Part 2 of Appendix 5. 

“Major Checks” means the 6 Year Check and the 12 Year Check. 
 “Mandatory Service Bulletin” means any service bulletin affecting the airworthiness or safety of the Aircraft which is issued by the Manufacturer and compliance with which is required
within a defined period of time. 
 “Manufacturer” means in respect of: (a) the Airframe, the Airframe Manufacturer; the
Engines, the Engine Manufacturer; and (c) with respect to a Part (other than a complete Engine), the manufacturer of such Part. 

“Mexico” means the United Mexican States. 
 “Mexican GAAP” means the generally accepted and consistently applied accounting principles and practices in the State of Incorporation. 

“Minimum Liability Coverage” means ***** or such higher amount carried by Lessee on its fleet policy. 

“Mortgage” means any present or future aircraft mortgage, pledge or security agreement made by Lessor in favour of the Security Trustee
in respect of the Aircraft. 
 “Other Agreements” means together 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 23 

	(a)	the lease agreement dated on or about the date hereof between the Lessor and Lessee with respect to the Airbus A320-200 aircraft with manufacturer’s serial number
3543; and 

  

	(b)	any other lease agreement entered into or to be entered into between Lessor (or any Affiliate of Lessor) with Lessee (or any Affiliate of Lessee).

 “Part” means whether or not installed on the Aircraft: 

 

	(a)	any component, furnishing or equipment (other than a complete Engine) furnished with the Aircraft at Delivery; and 

 

	(b)	any other component, furnishing or equipment (other than a complete Engine) title to which has passed to Lessor pursuant to this Agreement, 

but excludes any such items title to which has passed to Lessee pursuant to this Agreement (and for the avoidance of doubt the term
“Part” excludes any part installed on the Aircraft title to which is not required by this Agreement to be passed to or vested in Lessor). 
 “Permanent Repairs” means any and all repairs relating to the Aircraft which: 
  

	(a)	subject to (c) and (d) below, are of a permanent nature; 

  

	(b)	shall have been reviewed and completed in accordance with the latest revision of the Manufacturer’s published guidelines applicable at the time of repair and
supported by documentation evidencing accomplishment in accordance with FAA approved data (that is, the Manufacturer’s structural repair manual or the Manufacturer’s service bulletin or the Airframe Manufacturer’s written approval
(wherein a statement of no technical objection does not constitute the Airframe Manufacturer’s written approval and a statement of conformity to type certificate will be required)) or EASA or FAA STC (Supplemental Type Certificate) or otherwise
approved by the FAA and/or EASA; 

  

	(c)	shall be flush unless not available from the Airframe Manufacturer or the original equipment manufacturer; 

 

	(d)	shall be approved for unlimited continued service, without time limitations for removal, repair or replacement and shall have no special or distinct repetitive
inspection requirements, unless no such repair exists, in which case: 

  

	 	(i)	Lessee shall provide to Lessor, at the time the repair is being carried out, written confirmation from the Manufacturer that no further repair is currently available or
is reasonably capable of being developed within a reasonable period; and 

  

	 	(ii)	notwithstanding the written confirmation, Lessee shall carry out the repair with the least number of repeat inspections or the greatest time between and with the least
potential impact for future operators as is reasonably possible given Manufacturer’s guidelines. 

 “Permitted
Lien” means: 
  

	(a)	any lien for Taxes not assessed or, if assessed, not yet due and payable, or being contested in good faith by appropriate proceedings; 

 

	(b)	any lien of a repairer, mechanic, carrier, hangarkeeper or other similar lien arising in the ordinary course of business or by operation of law in respect of
obligations which are not overdue or are being contested in good faith by appropriate proceedings; and 

  

	(c)	any Lessor Lien, 

  
 24 

 but only if (in the case of both (a) and (b)) (i) adequate reserves have been provided by Lessee
for the payment of the Taxes or obligations; and (ii) such proceedings, or the continued existence of the lien, do not give rise to any likelihood of the sale, forfeiture, detention or other loss of the Aircraft or any interest therein or of
criminal liability or unindemnified civil liability on Lessor, the Security Trustee or any Lender. 
 “Permitted Sublease”
means a sublease in compliance with Clause 4.1(c) and (d) of Appendix 6. 
 “Permitted Sub-Lessee” means any of:

  

	(a)	Taca International Airlines, S.A.; 

  

	(b)	Aerovias Del Continente Americano S.A. AVIANCA; 

  

	(c)	Trans American Airlines, S.A.; 

  

	(d)	Lineas Aereas Costarricenses, S.A.; 

  

	(e)	Aviateca, S.A.; 

  

	(f)	Aerolineas Galapagos S.A. Aerogal; and 

  

	(g)	Spirit Airlines. 

 “Permitted
Transferee” means any person who (a) is not a competitor, or any Affiliate of a competitor, of Lessee; (b) is experienced in cross border leasing or owned or managed by a person who is so experienced; and (c) has a net worth
of at least ***** (or whose obligations under this Agreement are guaranteed by a person with at least such a net worth). 
 “PMA
Part” means a Part which has not been manufactured by the Airframe Manufacturer, the Engine Manufacturer or the manufacturer of the relevant replaced Part (as applicable) and is not approved by the Airframe Manufacturer or the Engine
Manufacturer for installation in the Aircraft or an Engine (as applicable). 
 “Pre-Delivery Procedure” means the procedure set
out in Part 1 of Appendix 7A. 
 “Process Agent Power of Attorney (Lessor)” means a process agent power of attorney
substantially in the form of Exhibit G or in such other form requested by Lessor. 
 “Process Agent Power of Attorney
(Guarantor)” means a process agent power of attorney substantially in the form of Exhibit H or in such other form requested by Lessor. 

“Prohibited Jurisdiction” means any jurisdiction which, at any relevant time, is subject to an embargo or sanction or prohibition order
(or any similar order or directive) of: 
  

	(a)	the United Nations Security Council or the European Union; or 

  

	(b)	the United States of America, 

 any which is
applicable to the Lessee or any Indemnitee or the ownership, leasing or financing of the Aircraft or the transactions contemplated by the Transaction Documents and which order or directive prohibits or restricts or could reasonably be interpreted to
prohibit or restrict the export (taking into account any exemptions which would be available and any operations to the extent that they are not absolutely prohibited or restricted) of the Aircraft to, and/or the use or operation of the Aircraft on
flights to, and/or from such jurisdiction. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 25 

 “Protocol” means the Protocol to the Convention on Matters Specific to Aircraft Equipment,
signed in Cape Town, South Africa on 16 November, 2001. 
 “Quiet Enjoyment Letter” means a letter from the Security
Trustee to Lessee in the form of Exhibit E. 
 “Recognition of Rights Agreement” means an agreement in form and substance
satisfactory to the Lessor and the Security Trustee (acting reasonably) concerning recognition of rights between Lessee, Lessor, the Security Trustee and any other owners, financiers or lessors of engines of the same make and model as the Engines
(or any other engines compatible therewith) operated by Lessee. 
 “Redelivery” means the redelivery of the Aircraft by Lessee
to Lessor in accordance with Appendix 8. 
 “Redelivery Date” means the date on which Redelivery occurs. 

“Redelivery Location” has the meaning given to it in Part 1 of Appendix 8. 
 “Reference Banks” means the principal London branches of HSH Nordbank AG, Barclays Bank plc and Citibank N.A. 
 “Reinsurances” has the meaning given to it in paragraph 1 of Part 1 of Appendix 7. 
 “Rent” means each amount calculated pursuant to Clause 5.4. 
 “Rental
Period” has the meaning given to it in Clause 5.3. 
 “Rent Date” means the first day of each Rental Period.

 “Replacement Part” means, in relation to any Part to be replaced under this Agreement, a component, furnishing or part
(other than a complete Engine) (provided that such component, furnishing or Part is not a PMA Part) that has the same or interchangeable specifications and modification status, is in as good an operating condition as, and a value, utility and
remaining life equal to or greater than, the Part to be replaced (assuming such replaced Part was in the condition and repair required by the terms of this Agreement) and which has not accumulated more than 110% of the accumulated calendar time,
Flight Hours and Cycles of the Aircraft and in respect of which title is capable of passing to Lessor free and clear of all Security Interests other than Permitted Liens. 
 “Return Condition” has the meaning given to it in Part 1 of Appendix 8. 

“Scheduled Delivery Date” means the date notified by Lessor to Lessee pursuant to Clause 4.2. 

“Scheduled Delivery Month” means *****. 
 “Scheduled Expiry Date” means the date falling sixty (60) months after the Delivery Date. 
 “Screen Rate” means the British Bankers’ Association Interest Settlement Rate for the relevant currency and period displayed on the appropriate page of the Bloomberg screen. If the
agreed page is replaced or service ceases to be available, Lessor may specify another page or service displaying the appropriate rate after consultation with Lessee. 
 “Security Interest” means any mortgage, charge, pledge, lien, assignment, hypothecation, right of set-off, right of detention or any agreement or arrangement having the effect of creating
a security interest other than a Permitted Lien. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 26 

 “Security Trustee” means HSH Nordbank AG, or such other institution or institutions as
Lessor may from time to time advise Lessee in writing. 
 “SENEAM” means Servicios a la Navegación en el Espacio
Aéreo Mexicano. 
 “State of Incorporation” means Mexico. 
 “State of Registration” means Mexico or such other jurisdiction as agreed to by Lessor pursuant to the terms of this Agreement. 
 “Subsidiary” means: 
  

	(a)	in relation to any reference to accounts, any entity whose accounts are consolidated with the accounts of Lessee in accordance with Mexican GAAP or IFRS;

  

	(b)	for any other purpose an entity from time to time: 

  

	 	(i)	of which another has direct or indirect control or owns directly or indirectly more than 50 per cent. of the voting share capital; or 

 

	 	(ii)	which is a direct or indirect subsidiary of another under the laws of the jurisdiction of its incorporation, 

(and for this purpose “control” means either the ownership of more than fifty per cent. (50%) of the voting share capital (or
equivalent right of ownership) of a person or power to direct its policies and management whether by contract or otherwise). 

“Suitable Replacement Engine” means an engine: 
  

	(a)	which is of the same model, and has the same thrust rating as, or is an improved or advanced version of, the Engine it replaces (the “Replaced
Engine”), approved by the Air Authority for installation and operational use on the Airframe in conjunction with the other Engine; 

  

	(b)	(unless otherwise agreed by Lessor, acting reasonably) which shall have undergone no more Engine Performance Restorations since new than the Replaced Engine; and

  

	(c)	which has a value and utility at least equal to the Replaced Engine assuming the Replaced Engine was in the condition and repair required by the terms of this
Agreement. 

 “Taxes” means all present and future taxes, levies, imposts, duties or charges of any nature
whatsoever, and wheresoever imposed, including (without limitation) any registration tax in respect of the Aircraft, any withholding taxes, any value added tax or any other tax in respect of added value and any franchise, transfer, sales, use,
business, occupation, excise, fuel, carbon, personal property, real property, stamp or other tax imposed by any Government Entity together with any penalties, additions to tax, fines or interest thereon and tax, taxes and taxation shall be construed
accordingly. 
 “Term” means the period commencing on the Delivery Date and ending on Expiry Date. 

“Termination Event” has the meaning assigned to it in Clause 10.1(c). 
 “Total Loss” has the meaning assigned to it in Part 3 of Appendix 7. 

“Transaction Documents” means this Agreement, the Engine Warranties Agreement, the Airframe Warranty Agreement, the Certificate of
Acceptance, the Assignment of Insurances, the Acknowledgement of Assignment of Lease, the Acknowledgement of Assignment of Guarantee, the Guarantee, the Deregistration Power of Attorney, the IDERA, the Process Agent Power of

  
 27 

 
Attorney (Lessor), the Process Agent Power of Attorney (Guarantor), the Quiet Enjoyment Letter and any other document which is entered into in connection with any of those agreements and is
designated as such by Lessor and Lessee. 
 “Wet Lease” means a lease agreement with respect to the Aircraft: 

 

	(a)	pursuant to which Lessee agrees to operate the Aircraft under its air operator’s certificate on behalf of a third party airline under terms where all payment,
operational (including crew), maintenance, re-delivery and insurance obligations under this Agreement and for the Aircraft remain the responsibility of Lessee and Lessee remains fully liable to comply with all such obligations under or in connection
with this Agreement; 

  

	(b)	where there is no change in the Habitual Base or the State of Registration; 

 

	(c)	pursuant to which it is specifically stated in such wet lease that such agreement is expressly subordinated to the terms of this Agreement, any Mortgage, any Assignment
and the interests of Lessor, the Security Trustee and the Lenders in and to the Aircraft, this Agreement, any Mortgage and any Assignment (as the case may be); 

 

	(d)	the term of which, when aggregated with (i) any renewals or extensions thereof and (ii) the term of any consecutive such lease agreements (if any and as
applicable), does not exceed 6 months unless Lessee shall have procured the consent of Lessor and the Security Trustee (which consent shall not be unreasonably withheld or delayed); and 

 

	(e)	pursuant to which the expiry date thereunder occurs on or before the Expiry Date and the termination of this Agreement for any reason whatsoever will automatically
result in such wet lease terminating and Lessor or (if applicable) the Security Trustee shall be entitled to promptly repossess and de-register the Aircraft thereafter. 

 “6 Year Check” means a 6 year check performed by an Agreed Maintenance Performer in accordance with the MPD in effect when such check is carried out and required to be performed at a
threshold/interval of 6 years which shall include all system, zonal and structural tasks with an interval of 6 years or lower, all Flight Hour or Cycles driven tasks which are not due to be carried out at 6 years as a result of utilisation but which
for planning and access reasons would be performed at this 6 year check, all lower level checks, cabin refurbishment, out of phase work and cleaning and repair. 
 “6 Year Check Available Balance” shall have the meaning ascribed to such term in Part 2 of Appendix 5. 
 “6 Year Check Initial Balance” shall have the meaning ascribed to such term in Part 2 of Appendix 5. 
 “12 Year Check” means a 12 year check performed by an Agreed Maintenance Performer in accordance with the MPD in effect when such check is carried out and required to be performed at a
threshold/interval of 12 years which shall include all system, zonal and structural tasks with an interval of 12 years or lower, all Flight Hour or Cycles driven tasks which are not due to be carried out at 12 years as a result of utilisation but
which for planning and access reasons would be performed at this 12 year check, all lower level checks, cabin refurbishment, out of phase work and cleaning and repair. 

  
 28 

 APPENDIX 1 
 PART 2 
 CONSTRUCTION 

 

	(a)	In this Agreement, unless the contrary intention is stated, a reference to: 

 

	 	(i)	each of “Lessor”, “Lessee”, “Guarantor” or any other person includes without prejudice to the provisions of this
Agreement any successor in title to it and any permitted assignee or transferee; 

  

	 	(ii)	words importing the plural shall include the singular and vice versa; 

  

	 	(iii)	any document shall include that document as amended, novated or supplemented; 

 

	 	(iv)	a law (1) includes any statute, decree, constitution, regulation, order, judgment or directive of any Government Entity; (2) includes any treaty, pact,
compact or other agreement to which any Government Entity is a signatory or party; (3) includes any judicial or administrative interpretation or application thereof and (4) is a reference to that provision as amended, substituted or
re-enacted; 

  

	 	(v)	a Clause, or a Recital or an Appendix or an Exhibit is a reference to a Clause, or recital of, or an appendix or an exhibit to, this Agreement;

  

	 	(vi)	an “amendment” includes a supplement, novation, restatement or re-enactment and “amended” will be construed accordingly;

  

	 	(vii)	an “approval” shall be construed as a reference to any approval, consent, authorisation, exemption, permit, licence, registration, filing or enrolment
by or with any competent authority; 

  

	 	(viii)	an “authorisation” includes an authorisation, consent, approval, resolution, licence, exemption, filing, registration or notarisation;

  

	 	(ix)	the words “other” and “otherwise” shall not be construed ejusdem generis with any foregoing words where a wider construction is
possible and the words “including” and “in particular” shall be construed as being by way of illustration or emphasis only and shall not be construed as, nor shall they take effect as, limiting the generality of any
foregoing words; and 

  

	 	(x)	“indebtedness” means indebtedness for or in respect of money borrowed or any other obligation for the payment or repayment of money.

  

	 	(xi)	In this Agreement a reference to a period of “months” is a reference to a period beginning in one calendar month and ending in the relevant calendar
month on the day numerically corresponding to the day of the calendar month in which the period started: 

provided that: 
  

	 	(i)	if the period started on the last Business Day in a calendar month or if there is no numerically corresponding day, the period shall end on the last Business Day in the
relevant calendar month; and 

  

	 	(ii)	if the numerically corresponding day is not a Business Day the period shall end on the preceding Business Day; 

  
 29 

	 	(iii)	(and “month” and “monthly” shall be construed accordingly). 

 

	 	(iv)	In this Agreement references to the “winding up”, “dissolution”, “examination” or “court protection”
of a company or corporation, or the appointment of a “liquidator”, “receiver”, “examiner” or “administrator” shall be construed so as to include any equivalent or analogous
proceedings or officer under the law of the jurisdiction in which such company or corporation is incorporated or established or any jurisdiction in which such company or corporation carries on business, including the seeking of liquidation,
winding-up, reorganisation, dissolution, administration, examination, arrangement, adjustment, protection or relief of debtors. 

  

	(b)	The headings in this Agreement are to be ignored in construing this Agreement. 

 

	(c)	If a provision of this Agreement is or becomes illegal, invalid or unenforceable in any jurisdiction, that will not affect: 

 

	 	(i)	the legality, validity or enforceability in that jurisdiction of any other provision of this Agreement; or 

 

	 	(ii)	the legality, validity or enforceability in any other jurisdiction of that or any other provision of this Agreement. 

 

	(d)	This Agreement may be executed in counterparts each of which will constitute one and the same document. 

 

	(e)	This Agreement and the other Transaction Documents are the sole and entire agreement between Lessor and Lessee in relation to the leasing of the Aircraft, and supersede
all previous agreements in relation to that leasing. 

  

	(f)	The terms of this Agreement may only be amended with the written consent of the parties hereto. 

 

	(g)	The rights of Lessor under the Transaction Documents may be exercised as often as Lessor considers appropriate, are cumulative and are in addition to its rights under
any law. The rights of Lessor against Lessee or in relation to the Aircraft (whether arising under this Agreement or any law) cannot be waived or varied other than by an express waiver or variation in writing. Any failure to exercise or any delay in
exercising any of such rights shall not operate as a waiver or variation of that or any other such right; any defective or partial exercise of any of such rights shall not preclude any other or further exercise of that or any other such right; and
no act or course of conduct or negotiation on Lessor’s part or on its behalf shall in any way preclude it from exercising any such right or constitute a suspension or any variation of any such right. 

  
 30 

 APPENDIX 2 
 DESCRIPTION OF AIRCRAFT 
  

			
	AIRCRAFT	  	
		
	MANUFACTURER:	  	Airbus S.A.S.
		
	MODEL:	  	A320-200
		
	SERIAL NUMBER:	  	3543
		
	MTOW	  	77 tons
		
	ENGINES	  	
		
	MANUFACTURER:	  	IAE International Aero Engines AG
		
	ENGINE TYPE:	  	V2527E-A5
		
	SERIAL NOS:	  	V12938 and V12972

  
 31 

 APPENDIX 3 
 PART 1 
 LESSEE’S REPRESENTATIONS AND WARRANTIES 

1      
  

	(a)	Each of Lessee and the Guarantor is a sociedad anõnima promotora de inversion de capital variable duly organised and validly existing under the laws of
the State of Incorporation and has the power to own its assets and carry on its business as it is being conducted and is the holder of all necessary licences required in connection therewith. 

 

	(b)	Each of Lessee and the Guarantor has the power to enter into and perform, and has taken all necessary corporate action to authorise the entry into, performance and
delivery of, the Transaction Documents to which it is a party and the transactions contemplated thereby and all other authorisations, consents, registrations and notifications required in connection with the entry into, performance, validity and
enforceability of, the Transaction Documents to which it is a party and the transactions contemplated thereby, have been (or will on or before the Delivery Date have been) obtained or effected (as appropriate) and are (or will on their being
obtained or effected be) in full force and effect except for any authorisations, consents, registrations or notifications listed in paragraph 4 of Part 1 of Appendix 4. 

 

	(c)	The Transaction Documents to which Lessee and/or the Guarantor is a party constitute each of Lessee’s and Guarantor’s legal, valid and binding obligations
enforceable in accordance with the terms thereof, except as enforcement may be limited by bankruptcy, insolvency, reorganisation and other laws generally affecting the rights of creditors. 

 

	(d)	The entry into, delivery and performance by each of Lessee and the Guarantor of, and the transactions contemplated by, the Transaction Documents do not and will not:

  

	 	(i)	conflict with any laws binding on Lessee or the Guarantor; or 

  

	 	(ii)	conflict with the constitutional documents of Lessee or the Guarantor; or 

  

	 	(iii)	conflict with or result in default under any document which is binding upon Lessee or the Guarantor or any of its assets. 

 

	(e)	Each of Lessee and the Guarantor is subject to civil and commercial law with respect to its obligations under the Transaction Documents to which it is a party and
neither Lessee, the Guarantor nor any of their respective assets is entitled to any right of immunity and the entry into, delivery and performance of the Transaction Documents constitute private and commercial acts. 

 

	(f)	     

  

	 	(i)	The consolidated financial statements of the Guarantor and the financial statements of Lessee most recently delivered to Lessor have been prepared in accordance with
Mexican GAAP or IFRS and fairly represent the financial condition of Lessee and the Guarantor as at the date to which they were drawn up; and 

  

	 	(ii)	 there has been no material adverse change in the financial condition of Lessee or the Guarantor since the date to which those financial statements were
drawn up and the financial and other information furnished by Lessee to Lessor in 

  
 32 

	 	
connection with the Transaction Documents does not contain any untrue statement or omit to state facts, the omission of which makes the statements therein, in the light of the circumstances under
which they were made, misleading, nor omits to disclose any material matter to Lessor and all forecasts and opinions contained therein were made on reasonable grounds after due and reasonable enquiry by Lessee or the Guarantor.

  

	(g)	No litigation, arbitration or administrative proceedings are pending or to Lessee’s knowledge threatened against Lessee or the Guarantor which, if adversely
determined, could reasonably be expected to have a material adverse effect upon the financial condition of Lessee or the Guarantor or the ability of Lessee or the Guarantor to perform its obligations under the Transaction Documents to which it is a
party. 

  

	(h)	The obligations of each of Lessee and the Guarantor under the Transaction Documents to which it is a party rank at least pari passu with all other present and
future unsecured and unsubordinated obligations (including contingent obligations) of Lessee and the Guarantor, with the exception of such obligations as are mandatorily preferred by law and not by virtue of any contract. 

 

	(i)	No Default has occurred and is continuing or might result from the entry into or performance of the Transaction Documents and no other event has occurred and is
continuing which constitutes (or with the giving of notice, lapse of time, determination of materiality or the fulfilment of any other applicable condition or any combination of the foregoing, might constitute) a material default under any document
which is binding on Lessee or the Guarantor or any of its assets. 

  

	(j)	Save as specified in any qualification as to matters of law in any legal opinion furnished to Lessor pursuant to and in accordance with this Agreement, it is not
necessary or advisable under the laws of the State of Registration, the Habitual Base or the State of Incorporation, in order to ensure the validity, effectiveness and enforceability of the Transaction Documents to which Lessee and/or the Guarantor
is a party or any Security Interest expressed to be created thereunder or to, establish, perfect or protect the property rights of Lessor in the Aircraft that the Transaction Documents to which Lessee and/or Guarantor is a party or any other
instrument relating thereto be filed, registered or recorded or that any other action be taken except for the filing of this Agreement and the Bill of Sale for registration with the Mexican Aeronautics Registry, or if any such filings,
registrations, recordings or other actions are necessary or advisable, the same have been effected or will have been effected or will have been applied for on or before the Delivery Date and under all such laws the property rights of Lessor in the
Aircraft have been fully established, perfected and protected. 

  

	(k)	Neither Lessee nor the Guarantor is in default in the payment of any Taxes of a material amount which have been assessed and demanded of it other than Taxes which
Lessee or the Guarantor is contesting in good faith by appropriate proceedings and in respect of which adequate reserves have been made and the non payment of which does not give rise to any material likelihood of the Aircraft being sold, arrested,
detained or otherwise lost. 

  

	(l)	Neither Lessee nor the Guarantor has engaged the services of a broker or similar representative or agent for the purposes of the Transaction Documents and the
transactions contemplated thereby. 

  

	2	The representations and warranties in Part 1 of this Appendix 3 and under any other Transaction Document will survive the execution of this Agreement and such
other Transaction Document and will be deemed to be repeated by Lessee on the Delivery Date and, with respect to those representations and warranties set out in (a) to (f), (h), (i), (j) and (m) above and any representations and
warranties contained in the Assignment of Insurances, on each Rent Date with reference to the facts and circumstances then existing. 

  
 33 

 APPENDIX 3 
 PART 2 
 LESSOR’S REPRESENTATIONS AND WARRANTIES ON SIGNING

 1      
  

	(a)	Lessor is a company duly incorporated and validly existing under the laws of Ireland and has the power to own its assets and carry on its business as it is now being
conducted. 

  

	(b)	Lessor has the power to enter into and perform, and has taken all necessary corporate action to authorise the entry into, performance and delivery of, this Agreement,
the Guarantee and the transactions contemplated by thereby. 

  

	(c)	This Agreement and the Guarantee constitute Lessor’s legal, valid and binding obligations enforceable against Lessor in accordance with their terms except as
enforcement may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganisation or other similar laws affecting creditors’ rights generally or by equitable principles. 

 

	(d)	The entry into and performance by Lessor of, and the transactions contemplated by, this Agreement and the Guarantee do not and will not: 

 

	 	(i)	conflict with any laws binding on Lessor; or 

  

	 	(ii)	conflict with the constitutional documents of Lessor; or 

  

	 	(iii)	conflict with or result in a default under any document which is binding upon Lessor or any of its assets. 

 

	(e)	So far as concerns the obligations of Lessor, all authorisations, consents, registrations and notifications required under the laws of Ireland in connection with the
entry into, performance, validity and enforceability of, and the transactions contemplated by, this Agreement and the Guarantee have been (or will on or before the Delivery Date have been) obtained or effected (as appropriate) and are (or will on
their being obtained or effected be) in full force and effect. 

  

	(f)	Lessor is subject to civil and commercial law with respect to its obligations under this Agreement and the Guarantee, and neither Lessor nor any of its assets is
entitled to any right of immunity and the entry into and performance of this Agreement and the Guarantee by Lessor constitute private and commercial acts. 

  

	(g)	Lessor has not engaged the services of a broker or similar representative or agent for the purposes of this Agreement, the Guarantee, or the transactions contemplated
thereby. 

  

	(h)	Lessor is a resident of Ireland for tax purposes. 

  
 34 

 APPENDIX 3 
 PART 3 
 LESSOR’S REPRESENTATIONS AND WARRANTIES ON DELIVERY AND
EACH 
 RENT DATE 
 1 
  

	(a)	Lessor is a company duly incorporated and validly existing under the laws of Ireland and has the power to own its assets and carry on its business as it is now being
conducted. 

  

	(b)	Lessor has the power to enter into and perform, and has taken all necessary corporate action to authorise the entry into, performance and delivery of, the Transaction
Documents to which it is a party and the transactions contemplated by thereby. 

  

	(c)	The Transaction Documents to which Lessor is a party constitute Lessor’s legal, valid and binding obligations enforceable against Lessor in accordance with their
terms except as enforcement may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganisation or other similar laws affecting creditors’ rights generally or by equitable principles. 

 

	(d)	The entry into and performance by Lessor of, and the transactions contemplated by, the Transaction Documents to which it is a party do not and will not:

  

	 	(i)	conflict with any laws binding on Lessor; or 

  

	 	(ii)	conflict with the constitutional documents of Lessor; or 

  

	 	(iii)	conflict with or result in a default under any document which is binding upon Lessor or any of its assets. 

 

	(e)	So far as concerns the obligations of Lessor, all authorisations, consents, registrations and notifications required under the laws of Ireland in connection with the
entry into, performance, validity and enforceability of, and the transactions contemplated by, the Transaction Documents have been (or will on or before the Delivery Date have been) obtained or effected (as appropriate) and are (or will on their
being obtained or effected be) in full force and effect. 

  

	(f)	Lessor is subject to civil and commercial law with respect to its obligations under the Transaction Documents to which it is a party, and neither Lessor nor any of its
assets is entitled to any right of immunity and the entry into and performance of the Transaction Documents to which it is a party by Lessor constitute private and commercial acts. 

 

	(g)	Lessor has not engaged the services of a broker or similar representative or agent for the purposes of the Transaction Documents or the transactions contemplated
thereby. 

  

	(h)	Lessor is a resident of Ireland for tax purposes. 

  

	2	The representations and warranties of Lessor in this Part 3 of Appendix 3 will survive the execution of this Agreement and will be deemed to be repeated at
Delivery and (other than the representation and warranty at (h) above) on each Rent Date. 

  
 35 

 APPENDIX 4 
 PART 1 
 LESSOR CONDITIONS PRECEDENT 

1 
  

	1.1	Receipt by Lessor from Lessee not less than two (2) Business Days prior to Delivery Date of the following satisfactory in form and substance to Lessor
(acting reasonably): 

  

	(a)	a corporate certificate of each of Lessee and the Guarantor signed by an authorised officer of the Lessee or the Guarantor (as applicable) to which is attached complete
and up to date copies of: 

  

	 	(i)	the constitutional documents (estatutos sociales) of Lessee or the Guarantor (as applicable); 

 

	 	(ii)	a resolution of the board of directors of Lessee or the Guarantor (as applicable) approving the terms of, and the transactions contemplated by, the Transaction
Documents to which Lessee or the Guarantor (as applicable) is a party, resolving that Lessee or the Guarantor (as applicable) enter into the Transaction Documents to which Lessee or the Guarantor (as applicable) is a party and authorising a
specified person or persons to execute the Transaction Documents to which Lessee or the Guarantor (as applicable) is a party; 

  

	 	(iii)	any power of attorney of Lessee or the Guarantor (as applicable) approved at the meeting of the directors referred to at (ii) above; and 

 

	 	(iv)	an incumbency certificate setting out the names and signatures of the persons specified by Lessee or the Guarantor (as applicable) in (ii) above.

  

	(b)	evidence that an opinion in such form as may be approved by Lessor and the Security Trustee and addressed to Lessor, the Security Trustee and the Lease Manager will be
issued on the Delivery Date by: 

  

	 	(i)	Lessee’s and Guarantor’s in house legal counsel in the State of Incorporation; 

 

	 	(ii)	Ritch Mueller, Lessor’s and the Security Trustee’s legal counsel in the State of Registration; and 

 

	 	(iii)	Lessor’s insurance advisers in relation to the Insurances (such opinion to be obtained by Lessor at Lessor’s cost); 

 

	(c)	evidence of the issue of each approval, licence and consent which may be required in relation to, or in connection with, the performance by each of Lessee and the
Guarantor of any of its obligations under the Transaction Documents (including, without limitation, the remittance by Lessee or the Guarantor (as applicable) to Lessor in US Dollars of all amounts payable under the Transaction Documents);

  

	(d)	copies of Lessee’s concession title, air operator’s certificate and all other licences, certificates and permits required by Lessee or the Guarantor in
relation to, or in connection with, the Transaction Documents to which it is a party and the leasing and/or operation (as the case may be) of the Aircraft; 

 

	(e)	the latest available consolidated financial statements of the Guarantor and the latest available financial statements of Lessee; 

  
 36 

	(f)	two letters, in the form of Part 1 of Exhibit C and Part 2 of Exhibit C, from Lessee addressed to SENEAM and each other relevant air traffic control authority pursuant
to which Lessee authorises the addressee to issue to Lessor, the Lease Manager and the Security Trustee, upon Lessor’s, the Lease Manager’s or the Security Trustee’s request (i) from time to time (subject always to Clause 7.5) in
the case of the letter set out in Part 1 of Exhibit C and (ii) upon the occurrence of an Event of Default which is continuing in the case of the letter set out in Part 2 of Exhibit C, a statement of account of all sums due by Lessee to the
authority in respect of all aircraft (including, without limitation, the Aircraft) operated by Lessee; 

  

	(g)	the IDERA and the Deregistration Power of Attorney; 

  

	(h)	the Process Agent Power of Attorney (Lessor) and the Process Agent Power of Attorney (Guarantor) and any other special power of attorney which Lessee or the Guarantor
is required to execute and deliver pursuant to the terms of any other Transaction Document; 

  

	(i)	all such documentation and information from Lessee and the Guarantor as requested by Lessor in respect of “Know Your Customer” checks, anti-money laundering
checks and other similar requirements; and 

  

	(j)	a letter from the process agent appointed by Lessee and Guarantor under each Transaction Document to accept service of process, accepting that appointment.

  

	1.2	Receipt by Lessor from Lessee on or prior to the Delivery Date (or in the case of the Deposit, the balance of the Cash Deposit at least five (5) days prior
to the Delivery Date) of the following satisfactory in form and substance to Lessor: 

  

	(a)	the Transaction Documents to which Lessee or the Guarantor is a party duly executed by Lessee or the Guarantor and the other parties thereto (other than Lessor), it
being acknowledged by each of Lessee and Lessor that Lessor will use all reasonable endeavours, subject to satisfaction of the conditions precedent contained in the Loan Agreement to arrange for the Security Trustee to execute the Transaction
Documents to which the Security Trustee is a party; 

  

	(b)	a signed copy of each opinion referred to it at 1.1(b) above; 

  

	(c)	all sums due to Lessor under the Transaction Documents on or before the Delivery Date including, without limitation, the Deposit and the first payment of Rent;

  

	(d)	certificates of insurance and reinsurance and an undertaking from Lessee’s insurance and reinsurance brokers evidencing compliance with the provisions of this
Agreement as to Insurances and Reinsurances; 

  

	(e)	the Certificate of Airworthiness for Export for the Aircraft issued by the Irish Aviation Authority, the temporary Certificate of Airworthiness for the Aircraft issued
by the Air Authority and the temporary registration marks for the Aircraft issued by the Air Authority (to the extent available); and 

  

	(f)	such other documents as Lessor may reasonably request. 

  

	1.3	The representations and warranties of Lessee under Part 1 of Appendix 3 of this Agreement and the representations and warranties of the Guarantor in any
Transaction Document to which it is a party are correct and would be correct if repeated at Delivery. 

  

	1.4	Receipt by Lessor of written confirmation from the Security Trustee that the Transaction Documents to which Lessee and/or the Guarantor is a party are in form
and substance satisfactory to the Lenders and accordingly the Aircraft will continue to be financed by such Lenders on terms and conditions satisfactory to Lessor and such confirmation being in full force and effect on the Delivery Date.

  
 37 

	1.5	Lessor having reviewed the Agreed Maintenance Programme under which it is proposed the Aircraft will be maintained. For the purposes of such review, Lessee shall
prior to the Delivery Date provide Lessor with all necessary information and documents as Lessor may reasonably require with respect to the Agreed Maintenance Programme. 

 

	2	The conditions specified in this Part 1 of Appendix 4 are for the benefit of Lessor and may be waived or deferred in whole or in part and with or without
conditions by Lessor. 

  

	3	If any original document or certified copy of any document specified in Part 1 of this Appendix 4 is provided to Lessor by facsimile copy or pdf copy on or prior
to Delivery, Lessee shall provide the original of each such document to Lessor as soon as reasonably possible after Delivery but in any event no later than ten (10) Business Days after Delivery. 

 

	4	As soon as reasonably practicable after Delivery, but in any event not later than the relevant day specified in column two below, Lessee shall provide the
following to Lessor: 

  

							
	 	  	Conditions Subsequent	  	Time Period
				
		  	(a)	  	A search certificate from the International Registry showing compliance by Lessee with the provisions at paragraph 4.4(b) of Appendix 6	  	Ten (10) Business Days
				
		  	(b)	  	Evidence that filing of this Agreement and the Bill of Sale and the Aircraft has been made on the Delivery Date with the Mexican Aeronautics Registry under the laws of the State of
Registration	  	On closing
				
		  	(c)	  	Evidence that all other filings, registrations, recordings and other actions have been or will be taken which are necessary or advisable to ensure the validity, effectiveness and
enforceability of the Transaction Documents, the Mortgage and the Assignment and any Security Interest expressed to be created thereunder and to protect the property rights of Lessor, and the Security Interests of the Security Trustee and the
Lenders in the Aircraft or any Part.	  	Ten (10) Business Days
				
		  	(d)	  	Certificate of Import stamped by relevant Government Entity in Mexico evidencing that any required import licence, and all customs formalities, relating to the import of the
Aircraft into the State of Registration will be complied with and that the import of the Aircraft into the State of Registration is exempt from Taxes	  	Ten (10) Business Days
				
		  	(e)	  	Certificate of registral status (certificado de estado registral) issued by the Mexican Aeronautics Registry, evidencing registration of the items provided in (b) and (c)
above.	  	Thirty (30) days
				
		  	(f)	  	Permanent Certificate of Airworthiness issued by the Air Authority	  	Ten (10) Business Days

  
 38 

							
	 	  	Conditions Subsequent	  	Time Period
				
		  	(g)	 	Permanent Certificate of Registration issued by the Air Authority	  	One hundred and fifty (150) days
				
		  	(h)	 	Inclusion of the Aircraft in Lessee’s Air Operator’s Certificate	  	Fifteen (15) days
				
		  	(i)	 	Bringdown opinion of Ritch Mueller, Lessor’s and the Security Trustee’s legal counsel in the State of Registration, concerning relevant filings at the DGAC and
International Registry	  	Ten (10) Business Days

  
 39 

 APPENDIX 4 
 PART 2 
 LESSEE CONDITIONS PRECEDENT 

1 
  

	1.1	Receipt by Lessee from Lessor not less than two (2) Business Days prior to the Delivery Date of the following satisfactory in form and substance to Lessee:

  

	(a)	a copy of the constitutional documents of Lessor certified by an officer of Lessor to be true, complete and up to date; 

 

	(b)	a copy of a resolution of the board of directors of Lessor approving the terms of, and the transactions contemplated by, the Transaction Documents to which Lessor is a
party, resolving that Lessor enter into the Transaction Documents to which Lessor is a party and authorising a specified person or persons to execute the Transaction Documents to which Lessor is a party. 

 

	1.2	Receipt by Lessee from Lessor on or prior to the Delivery Date of: 

  

	(a)	the Transaction Documents to which Lessor is a party (other than this Agreement) executed by Lessor; 

 

	(b)	the Quiet Enjoyment Letter; and 

  

	(c)	evidence that an opinion in such form as may be approved by Lessee (acting reasonably) and addressed to Lessee will be issued on the Delivery Date by McCann FitzGerald,
Lessor’s counsel in Ireland, as to the due execution and enforceability of this Agreement. 

  

	1.3	The representations and warranties of Lessor in Part 2 of Appendix 3 of this Agreement are correct and would be correct if repeated at Delivery.

  

	1.4	Following completion of the Pre-Delivery Procedure, Lessee shall have ascertained that the Aircraft meets the Delivery Condition. 

 

	2	The conditions precedent in this Part 2 of Appendix 4 are for the benefit of Lessee and may be waived or deferred in whole or in part and with or without
conditions by Lessee. 

  
 40 

 APPENDIX 5 
 PART 1 
 ADDITIONAL PAYMENT PROVISIONS 

 

	1	Payments 

 All payments by
Lessee to Lessor under the Transaction Documents will be made for value on the due dates in Dollars and in same day funds settled through the New York Clearing House System or such other funds as may for the time being be customary for the
settlement in New York City of international payments in Dollars by telegraphic transfer to such account as Lessor may advise Lessee in writing from time to time but no later than two (2) Business Days prior to the date on which any payment is
due by Lessee under any Transaction Document. 
  

	2	Letter of Credit Requirements 

  

	(a)	Each Letter of Credit shall: 

  

	 	(i)	be irrevocable and issued and payable by a bank acceptable to Lessor and the Security Trustee and in form and substance acceptable to Lessor and the Security Trustee
and, if Lessor requests (acting reasonably), confirmed by the London or New York branch of a major international bank acceptable to Lessor and the Security Trustee (each acting reasonably) as security for all payment obligations of Lessee to Lessor
under the Transaction Documents (including damages); 

  

	 	(ii)	remain in full force and effect and available for drawing by Lessor upon first demand at any time or number of times until the earlier of: (A) sixty (60) days
after the Scheduled Expiry Date; and (B) the date on which Lessee has redelivered the Aircraft to Lessor pursuant to and in accordance with this Agreement and complied with all of its obligations under the Transaction Documents (the
“Required LC Expiry Date”); 

  

	(b)	With the prior written consent of Lessor and the Security Trustee (such consent not to be unreasonably withheld or delayed), any Letter of Credit may have a validity
period or periods ending prior to the Required LC Expiry Date, provided that (i) such Letter of Credit shall, in each case, be renewed and delivered to Lessor not later than ten (10) Business Days prior to its expiry; and (ii) such
Letter of Credit shall remain in force at all times up to and including the Required LC Expiry Date. 

  

	(c)	If at any time during the Term, Lessor determines that the current issuing or confirming bank of the Letter of Credit is no longer an acceptable issuing or confirming
bank (whether by virtue of a material adverse change in its financial condition or for any other reason) Lessee shall promptly procure that, such Letter of Credit is replaced either by a Letter of Credit issued by another bank acceptable to Lessor
and the Security Trustee (each acting reasonably) and (if deemed appropriate by Lessor or the Security Trustee) confirmed by another bank acceptable to Lessor and Security Trustee or by an amount in cash equal to the Deposit (assuming no accrued
interest) upon the terms and subject to the conditions of Clause 5 of this Agreement. 

  

	3	Value Added Tax 

 Lessee
will pay to Lessor or the applicable Tax authority the amount of any value added tax, any sales or turnover tax, imposition or levy of a like nature (together “VAT”) chargeable in respect of any supply for VAT purposes under any
Transaction Document 

  
 41 

 
and each amount stated as payable by Lessee under any Transaction Document is exclusive of VAT (if any) and is accordingly to be construed as a reference to that amount plus any VAT in respect of
it. 
  

	4	Currency and Currency Indemnity: 

  

	(a)	If Lessor receives an amount in respect of Lessee’s liability under any Transaction Document or if such liability is converted into a claim, proof, judgment or
order in a currency other than the currency (the “contractual currency”) in which the amount is expressed to be payable under any Transaction Document: 

 

	 	(i)	Lessee will indemnify Lessor as an independent obligation against any loss arising out of or as a result of such conversion; 

 

	 	(ii)	if the amount received by Lessor, when converted into the contractual currency (at the market rate at which Lessor is able on the relevant date to purchase the
contractual currency in London or at its option New York with that other currency) is less than the amount owed in the contractual currency, Lessee will, forthwith on demand, pay to Lessor an amount in the contractual currency equal to the deficit;
and 

  

	 	(iii)	Lessee will pay to Lessor on demand any exchange costs and Taxes actually incurred by Lessor in connection with the conversion. 

 

	(b)	Lessee waives any right it may have in any jurisdiction to pay any amount under any Transaction Document in a currency other than that in which it is expressed to be
payable. 

  

	5	Certificates 

 Save where
expressly provided otherwise in the Transaction Documents, any certificate or determination made in accordance with the relevant provisions (if any) of the Transaction Documents by Lessor as to any rate of interest or as to any other amount payable
under the Transaction Documents will, in the absence of manifest error, be conclusive and binding on Lessee. 
  

	6	Information 

  

	(a)	If Lessee is required by any applicable law, or by any third party, to deliver any report or return in connection with any Taxes relating to the Aircraft or the
Transaction Documents, Lessee will complete the same within any applicable time period and in a manner satisfactory to Lessor and, if relevant, will state therein that Lessee is exclusively responsible for the use and operation of the Aircraft and
for any Taxes arising therefrom, and Lessee will, on request supply a copy of the report or return to Lessor; and 

  

	(b)	Lessee will, on request but not more frequently than once annually unless a Default has occurred and is continuing, furnish to Lessor evidence satisfactory to Lessor,
with respect to the Aircraft, that all Taxes and charges incurred by Lessee including without limitation all withholdings and payments due to SENEAM or any other relevant air traffic control or airport authorities, have been paid and discharged in
accordance with the terms governing payment of such amounts. 

  
 42 

 APPENDIX 5 
 PART 2 
 PAYMENT OF MAINTENANCE RESERVES 

 

	1	Amount 

  

	1.1	Lessee shall pay the following amounts (“Maintenance Reserves”) to Lessor (or to its order) by reference to each calendar month or part thereof
following the Delivery Date during the Term on the tenth (10th) day following the end of that calendar month: 

  

	(a)	in respect of the Airframe: 

  

	 	(i)	***** per calendar month or part thereof (the “Airframe 6 Year Maintenance Reserves”); and 

 

	 	(ii)	***** per calendar month or part thereof (the “Airframe 12 Year Maintenance Reserves”); 

 

	(b)	in respect of each Engine, ***** (or part thereof) operated by that Engine during any calendar month (“Engine Maintenance Reserves”);

  

	(c)	in respect of the Engine LLPs within each Engine, ***** accomplished by that Engine during that calendar month (together “Engine LLP Maintenance
Reserves”). The Engine LLP Maintenance Reserves are an aggregate amount of all Engine LLP’s, assume a ***** stub life and will be divided and held in sub accounts for each Engine LLP as per the Attachment 1 to Part 2 of this Appendix
5. 

  

	(d)	in respect of the APU, ***** for each APU Hour (or part thereof) accomplished by the APU during that calendar month (“APU Maintenance Reserves”); and

  

	(e)	in respect of the Landing Gear, ***** per calendar month or part thereof (“Landing Gear Maintenance Reserves”). 

 

	2	Adjustment 

  

	2.1	The amount of the Maintenance Reserves in paragraph 1 are specified in January 2011 Dollars and will be adjusted by the Lessor on 1 January of each year (or
in the case of the Engine LLP Maintenance Reserves at such later date as the Engine Manufacturer releases its annual Engine LLP prices, should the new annual prices not be available on 1 January of the relevant year) after the date of this
Agreement as follows: 

  

	(a)	the amount of the Maintenance Reserves (other than the Engine LLP Maintenance Reserves) shall be increased for inflation by a fixed amount of *****. The Engine LLP
Maintenance Reserves shall be subject to increases in the relevant manufacturer’s catalogue price; 

  

	(b)	if there is any variation, based upon the information provided in the monthly status reports (supported, if requested by Lessor, by the flight logbook entries or
aircraft systems readout) delivered pursuant to paragraph 2.2(c) of Appendix 6 for the preceding month from (i) the assumed Flight Hour to Cycle ratio of ***** (the “Assumed Ratio”) or (ii) the assumed engine derate of
***** (the “Assumed Derate”), the amount of the Engine Maintenance Reserves payable shall be adjusted in accordance with the applicable table set out in attachment 2 to part 2 of this Appendix 5. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 43 

	(c)	if Lessee does not issue a monthly status report pursuant to paragraph 2.2(c) of Appendix 6, Lessor will assume a zero derate and Flight Hour to Flight Cycle ratio of
1:1. 

  

	2.2	The amount of the Maintenance Reserves in paragraph 1 may be adjusted at any time by an amount determined by Lessor, if (i) any major change is made to the
Approved Maintenance Programme or the operating procedures relating to the Aircraft; (ii) there is, in the reasonable opinion of Lessor, any material change in the operating environment of Lessee in which the Aircraft is operated; or
(iii) if the certified thrust of the Engines (judged at Delivery) is increased through modification, upgrades or otherwise. 

  

	3	Starting Balances 

  

	3.1	As at Delivery, the balance of accrued maintenance reserve payments attributable to the Eligible Maintenance Events set out below is as follows:

  

			
	 Account
	 	 Amount

	6 Year Check	 	 *****
  
 “6 Year Check Initial Balance”.

		
	APU Performance Restoration	 	 *****
  
 “APU Initial Balance”.

  

	3.2	The amount calculated by Lessor to be the sum of the 6 Year Check Initial Balance and the accumulated balance of Airframe 6 Year Maintenance Reserves held by the
Lessor at any given time shall be referred to as the “6 Year Check Available Balance”. 

  

	3.3	The amount calculated by Lessor to be the sum of the APU Initial Balance and the accumulated balance of APU Maintenance Reserves held by the Lessor at any given
time shall be referred to as the “APU Available Balance”. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 44 

 Attachment 1 
 Engine LLP Maintenance Reserves Sub Accounts 
  

					
	 Item
	  	 P/N
	  	
Rate per FC in USD

	 Stage 1 (fan) disk
	  	*****	  	*****
			
	 Stub shaft (LPC)
	  	*****	  	*****
			
	 Stage 1.5 to 2.5 disk (LPC)
	  	*****	  	*****
			
	 Stage 3 to 8 disk (HPC)
	  	*****	  	*****
			
	 Stage 9 to 12 disk (HPC)
	  	*****	  	*****
			
	 Rear Shaft (HPC)
	  	*****	  	*****
			
	 Rear rotating seal (HPC)
	  	*****	  	*****
			
	 Stage 1 HPT disk
	  	*****	  	*****
			
	 Stage 1 HPT inner seal
	  	*****	  	*****
			
	 Stage 1 HPT outer seal
	  	*****	  	*****
			
	 Stage 2 HPT seal
	  	*****	  	*****
			
	 Stage 2 HPT disk
	  	*****	  	*****
			
	 Stage 2 HPT plate
	  	*****	  	*****
			
	 Stage 3 LPT disk
	  	*****	  	*****
			
	 Stage 4 LPT disk
	  	*****	  	*****
			
	 Stage 5 LPT disk
	  	*****	  	*****
			
	 Stage 6 LPT disk
	  	*****	  	*****
			
	 Stage 7 LPT disk
	  	*****	  	*****
			
	 Stage 3 LPT seal
	  	*****	  	*****
			
	 Stage 4 LPT seal
	  	*****	  	*****
			
	 Stage 5 LPT seal
	  	*****	  	*****
			
	 Stage 6 LPT inner seal
	  	*****	  	*****
			
	 Stage 6 LPT seal
	  	*****	  	*****
			
	 Stage 7 LPT seal
	  	*****	  	*****
			
	 LPT shaft
	  	*****	  	*****

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 45 

 Attachment 2 
 Engine Maintenance Reserve Adjustment for changes to Assumed Ratio 
  

																									
	 Actual Flight Hour to Cycle ratio
	  	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 
							
	 First Engine Maintenance Reserve
	  	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 

 Engine Derate Adjustment Table 

 

																																													
	 Engine Derate %
	  	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 
												
	 Adjustment Factors
	  	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 	 	 	*	**** 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 46 

 APPENDIX 5 
 PART 3 
 REFUND OF MAINTENANCE RESERVES 

 

	1	Eligible Maintenance Events 

  

	1.1	Lessor shall have no obligation to distribute the Maintenance Reserves (or the 6 Year Check Initial Balance and/or the APU Initial Balance, as the case may be)
accumulated pursuant to Part 2 of this Appendix 5 other than in respect of the following events (each an “Eligible Maintenance Event”), in each case, if approved in advance by Lessor as specified in paragraph 1.2 below:

  

	(a)	with respect to the 6 Year Check Available Balance, upon the accomplishment of the first 6 Year Check relating to the Airframe in accordance with the MPD (it being
agreed that the 6 Year Check Initial Balance shall only be made available to Lessee if the Airframe 6 Year Maintenance Reserves have been utilised in full first with respect to the first 6 Year Check); 

 

	(b)	with respect to the Landing Gear Maintenance Reserves, upon the accomplishment of any Landing Gear Overhaul in accordance with the MPD; 

 

	(c)	with respect to the Engine Maintenance Reserves, upon the accomplishment of the Engine Performance Restoration on the relevant Engine; 

 

	(d)	with respect to the Engine LLP Maintenance Reserves for an Engine LLP, upon the replacement of that Engine LLP in accordance with the Engine Manufacturer limits; and

  

	(e)	with respect to the APU Available Balance, upon accomplishment of APU Performance Restoration (it being agreed that APU Initial Balance shall only be made available to
Lessee if the APU Maintenance Reserves have been utilised in full first with respect to an APU Performance Restoration). 

  

	1.2	Lessee shall have obtained written approval from Lessor (which shall not be unreasonably withheld or delayed) in respect of the workscope for the relevant
Eligible Maintenance Event prior to the commencement of the relevant Eligible Maintenance Event. 

  

	1.3	Subject to paragraph 2.5, any remaining balance of the Maintenance Reserves on the expiry of the Term (unless the Term has terminated as a result of a Total Loss
of the Aircraft and Lessor has received the Agreed Value) shall be retained by Lessor as its sole property. 

  

	2	Release of Maintenance Reserves 

  

	2.1	     

  

	(a)	Lessee will provide Lessor with: 

  

	 	(i)	an invoice signed by Lessee in an amount equal to the relevant Maintenance Reserves to be refunded to Lessee; and 

 

	 	(ii)	 written confirmation from the Agreed Maintenance Performer within sixty (60) days after the completion of the relevant Eligible Maintenance Event
that such Eligible Maintenance Event has been completed and paid for in full, accompanied by such other supporting documentation and invoices evidencing the performance 

  
 47 

	 	
of the relevant work and receipt of payment in relation to the same (including but not limited to, invoices evidencing the cost of replacement of any Engine LLPs), as Lessor may reasonably
request in writing within fifteen (15) Business Days following receipt of an invoice from Lessee pursuant to paragraph (i) above, provided, however, that in the case of the performance of any Engine Performance Restoration, the supporting
documentation to be provided to Lessor hereunder shall be limited to a duly completed FAA Form 337 and last shop visit report attached to the relevant invoice (a “Confirmation”). 

 

	(b)	Other than as specifically provided in paragraph 2.3, the amount payable by Lessor to Lessee (and Lessee’s entitlement to claim the same from Lessor) with respect
to any Eligible Maintenance Event shall not exceed the then current balance of Maintenance Reserves (or in the case of an Airframe 6 Year Check and a APU Performance Restoration, the 6 Year Check Available Balance and the APU Available Balance
respectively) held by Lessor for the account of such Eligible Maintenance Event. 

  

	2.2	Provided that no Default has occurred and is continuing, Lessor shall promptly (and in any event within fifteen (15) Business Days) following the receipt of
a Confirmation make payment (such payment date, the “Reserve Payment Date”) in accordance with paragraph 2.3 below to Lessee, or upon receipt of written instructions from Lessee, to the Agreed Maintenance Performer accomplishing the
Eligible Maintenance Event. 

 2.3 
  

	(a)	If during the Term: 

  

	 	(i)	the Airframe undergoes a 6 Year Check, Lessor will on the relevant Reserve Payment Date pay the full amount, if any, of the Airframe 6 Year Check Maintenance Reserves
held by Lessor as at the time of the completion of the 6 Year Check, provided that, Lessee is entitled to claim the full amount of the Airframe 6 Year Check Maintenance Reserves at such time; 

 

	 	(ii)	an Engine undergoes its first Engine Performance Restoration and the actual cost thereof exceeds the then current balance of Engine Maintenance Reserves for that Engine
(and provided that Lessee would be entitled to claim the full amount of such cost from such Engine Maintenance Reserves, but for such shortfall), Lessor shall contribute towards such shortfall provided, however, that Lessor’s liability under
this paragraph 2.3(a)(ii) shall not exceed *****; 

  

	 	(iii)	the APU undergoes an APU Performance Restoration, Lessor will on the relevant Reserve Payment Date pay the full amount of the APU Maintenance Reserves held by Lessor as
at the time of completion of the APU Performance Restoration, provided that, Lessee is entitled to claim the full amount of the APU Performance Restoration Reserves at such time; and 

 

	 	(iv)	an Engine LLP is replaced pursuant to and in accordance with this Agreement, Lessor will on the relevant Reserve Payment Date pay the lesser of the amount of the Engine
LLP Maintenance Reserves held by Lessor for that Engine LLP at the date of its replacement and the amount specified in the Engine Manufacturer’s catalogue price list for that Engine LLP at such time and should there be a shortfall between the
Engine LLP Maintenance Reserves held by Lessor for that Engine LLP and the amount specified in the Manufacturer’s catalogue price list, in each case at the relevant time (and provided that Lessee would be entitled to claim the full amount such
cost from the applicable Engine LLP Maintenance Reserves, but for such shortfall), Lessor shall contribute towards the shortfall provided, however, that Lessor’s aggregate liability for all Engine LLPs under this paragraph 2.3 (a)(iv) shall not
exceed *****, 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 48 

 provided always that in no event shall payment be made in respect of: 

 

	 	(A)	components unless they are scheduled to be overhauled at that check and their lives are fully restored (and if this is not the case, a pro-rating payment adjustment
will be made in respect of overhauls or replacements that are made before the relevant component scheduled life limit); 

  

	 	(B)	any maintenance resulting from design faults or damage covered by warranty or caused by accidental damage, (subject as provided below) foreign objects, faulty
maintenance, abnormal wear and tear, operational mishandling or line related quick engine change (QEC) kit maintenance (unless such maintenance is carried out at a different facility to the relevant Airframe check) or LRU component maintenance;

  

	 	(C)	any cost items which are the costs of removal, reinstallation, transportation or are exchange or similar costs or charges; 

 

	 	(D)	any cost which is in excess of the relevant manufacturer’s list price for the relevant parts or maintenance work (other than handling charges); or

  

	 	(E)	any maintenance, overhaul, renewal, replacement or repair which is reimbursable out of any insurance claim, 

(collectively, “Excluded Maintenance Events”). If any Engine suffers any foreign objects damage and as a result an Engine
Performance Restoration is required to be carried out on that Engine, then Lessee shall provide Lessor with full details of the foreign object damage and if Lessor (acting reasonably) agrees that the performance of an Engine Performance Restoration
on the Engine is advisable and will not impact adversely on the Engine or the future marketability of the Aircraft, then any such Engine Performance Restoration shall not be an Excluded Maintenance Event. 

 

	(b)	For the avoidance of doubt, any remaining 6 year Check Initial Balance and APU Initial Balance will not be taken into account when calculating the amounts payable by
Lessor pursuant to paragraphs (a)(i) and (a)(iii) above. 

  

	(c)	If the documentation in paragraphs 2.1(a) and (b) above, as applicable, relating to the completion of an Eligible Maintenance Event has been received by Lessor on
or before the expiry of the Term and Lessor requests other supporting documentation evidencing the performance of the relevant work or Lessee has notified Lessor prior to the expiry of the Term that an Eligible Maintenance Event has been completed
and has not yet provided such documentation to Lessor, Lessee shall be entitled to receive payment in respect of such Eligible Maintenance Event at any time after the expiry of the Term. 

 

	2.4	If during the Term 

  

	(a)	the Aircraft suffers Total Loss and the Agreed Value is paid to Lessor, Lessor will pay an amount equal to the balance of Maintenance Reserves then held by Lessor to
Lessee; 

  

	(b)	an Engine suffers Engine Loss and is replaced by a Suitable Replacement Engine, title to which Lessor obtains in accordance with paragraph 3.3 of Appendix 6, Lessor
shall pay to Lessee and amount equal to the balance of Engine Maintenance Reserves for such Engine, provided that the Suitable Replacement Engine is fresh out of Engine Performance Restoration shop visit when it is installed on the Airframe. If such
Suitable Replacement Engine is not fresh out of Engine Performance Restoration when it is installed on the Airframe Lessor shall pay the Lessee an amount calculated as follows 

  
 49 

 ***** 
 Where 
 *****. 

 

	(c)	For the avoidance of doubt, any remaining 6 Year Check Initial Balance and APU Initial Balance will not be taken into account when calculating the amounts payable by
Lessor pursuant to paragraphs (a) and (b) above. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 50 

 APPENDIX 6 
 LESSEE’S COVENANTS 
  

	1	GENERAL COVENANTS 

  

	1.1	Information 

 Lessee will: 

 

	(a)	notify Lessor forthwith of the occurrence of any Event of Default under this Agreement and, upon the written request of Lessor, confirm to it that, save as specified in
such confirmation or as previously notified no such Event of Default has occurred and is continuing hereunder; and 

  

	(b)	furnish to Lessor: 

  

	 	(i)	as soon as possible, but in any event not later than ninety (90) days after the last day of each financial quarter, the consolidated financial statements for the
Guarantor and the financial statements for Lessee prepared by management for the financial quarter ending on such day; 

  

	 	(ii)	as soon as available but not in any event later than one hundred and twenty (120) days after the last day of each financial year of Lessee, the audited
consolidated balance sheet of the Guarantor as of such day and the audited balance sheet of Lessee as of such day and the audited consolidated profit and loss statement of the Guarantor and the audited profit and loss statement of Lessee, in each
case, for the year ending on such day (in Spanish with an English language copy to be provided within forty five (45) days thereafter), 

 unless in the case of (i) and (ii) above the same are available free of charge on Lessee’s or the Guarantor’s website notified in writing by Lessee to Lessor and provided further that
if there is a successful public offering of the Guarantor’s shares, then Lessee shall only provide the information at (i) above upon receipt of a request to do so from Lessor; 

 

	 	(iii)	at the same time as it is issued to the creditors generally of Lessee or the Guarantor, a copy of each notice or circular issued to Lessee’s or the
Guarantor’s creditors generally; and 

  

	 	(iv)	on request from time to time such other information regarding Lessee and/or the Guarantor as Lessor may reasonably request. 

 

	1.2	General 

 Lessee will:

  

	(a)	not make any substantial change in the nature of the business (it being agreed that an extension of Lessee’s route network is not a change in the nature of its
business for this purpose) in which it is engaged, will preserve its existence (other than in connection with a solvent reconstruction the terms of which have been approved by Lessor, such approval not to be unreasonably withheld), and will conduct
its business in accordance with all applicable laws; 

  

	(b)	ensure that no change will occur in the Habitual Base or the State of Registration of the Aircraft without the prior written consent of Lessor;

  
 51 

	(c)	procure that no person lawfully claiming by or through Lessee or which is an Affiliate or Subsidiary of Lessee or in respect of whom Lessee may exercise control whether
as a matter of law or contract or otherwise, will act in any manner inconsistent with its obligations under this Agreement and that all persons will comply with those obligations as if references to “Lessee” included a separate reference
to those persons; 

  

	(d)	ensure that its obligations under the Transaction Documents rank and will at all times rank at least pari passu with all its other present and future unsecured
indebtedness (save for obligations which are mandatorily preferred by operation of law and not by contract); 

  

	(e)	Lessee agrees from time to time to do and perform such other and further acts and execute and deliver any and such other instruments as may be required by law or
reasonably requested by Lessor to establish, maintain and protect the rights and remedies of Lessor under, and to carry out and effect the intent and purposes of, the Transaction Documents; and 

 

	(f)	if, during the Term, Lessee’s insurer agrees to provide an assignment of reinsurances to the lessor or financier of any other aircraft operated by Lessee, promptly
notify Lessor in writing of such circumstances and shall use commercially reasonable efforts to procure that such insurer provides an assignment of reinsurances on no less favourable terms to Lessor or Security Trustee. 

 

	1.3	Authorisations 

 Lessee
shall: 
  

	(a)	obtain and maintain in full force and effect all authorisations for the time being required by the laws or regulations of the State of Registration and any other
relevant jurisdiction to enable Lessee to perform its obligations under the Transaction Documents; and 

  

	(b)	obtain and promptly renew from time to time, and will promptly, upon written request, deliver to Lessor copies of all and any authorisation, approval, consent, licence,
exemption, registration, recording, filing or notarisation as may be necessary or in Lessor’s opinion (acting reasonably) desirable to ensure the validity, enforceability or priority of Lessee’s and the Guarantor’s liabilities and
obligations, and (to the extent within Lessee’s power and control) Lessor’s and the Security Trustee’s rights, under the Transaction Documents. 

 

	2	OPERATIONAL COVENANTS 

  

	2.1	Lawful and Safe Operation 

Lessee will: 
  

	(a)	not use the Aircraft or permit the Aircraft to be used: 

  

	 	(i)	in any manner contrary to any recommendation of the manufacturers of the Aircraft, any Engine or any Part or any recommendation or regulation of the Air Authority or
any applicable law; or 

  

	 	(ii)	for any purpose for which the Aircraft is not designed or reasonably suitable; or 

 

	 	(iii)	in a manner not covered by Insurances required under this Agreement (except for Emergency Operations); 

 

	(b)	ensure that the crew, mechanics and engineers employed in connection with the operation and maintenance of the Aircraft have the qualifications and hold the licences
and/or approvals required by the Air Authority and applicable law; 

  
 52 

	(c)	procure that the Aircraft is used solely in commercial or other operations for which Lessee is duly authorised by the Air Authority and applicable law;

  

	(d)	not use the Aircraft nor permit the Aircraft to be used for the carriage of: 

 

	 	(i)	whole animals living or dead except in the cargo compartments according to the International Air Transport Association regulations, and except domestic pet animals
carried in a suitable container to prevent the escape of any liquid and to ensure the welfare of the animal; or 

  

	 	(ii)	acids, toxic chemicals, other corrosive materials, explosives, nuclear fuels, nuclear wastes, or any nuclear assemblies or components, except as permitted for passenger
aircraft under the “Restriction of Goods” schedule issued by International Air Transport Association from time to time and provided that all the requirements for packaging or otherwise contained therein are fulfilled; or

  

	 	(iii)	any other goods, materials or items of cargo which could reasonably be expected to cause damage to the Aircraft and which would not be adequately covered by the
Insurances; or 

  

	 	(iv)	any illegal item or substance; 

  

	(e)	not utilise the Aircraft nor permit the Aircraft to be utilised for purposes of training, qualifying or re-confirming the status of cockpit personnel except for the
benefit of Lessee’s cockpit personnel, and then only if the use of the Aircraft for such purpose is not disproportionate to the use for such purpose of other aircraft of the same type operated by Lessee; 

 

	(f)	except for Emergency Operations, not cause or permit the Aircraft to proceed to, or remain at, any location in a Prohibited Jurisdiction or which is for the time being
the subject of a prohibition order (or any similar order or directive) by: 

  

	 	(i)	any Government Entity of the State of Registration and/or the Habitual Base; or 

 

	 	(ii)	any Government Entity of the country in which such location is situated; or 

 

	 	(iii)	any Government Entity having jurisdiction over Lessee, Lessor, the Security Trustee, the Lenders or the Aircraft 

and which order or directive prohibits or restricts or could reasonably be interpreted to prohibit or restrict the export (taking into
account any exemption which would be available and any operations to the extent that they are not absolutely prohibited or restricted) of the Aircraft to, and/or the use or operation of the Aircraft on flights to, and/or from such jurisdiction;

  

	(g)	obtain and maintain in full force all authorisations required for the use and operation of the Aircraft for the time being, and for the making of payments required by,
and the compliance by Lessee with its other obligations under, the Transaction Documents. 

  

	2.2	Information 

 Lessee will:

  

	(a)	subject to paragraph (c) below, keep Lessor informed as to current serial numbers of the Engines, the current serial number of the APU, any engine or auxiliary
power unit installed on the Aircraft and the location of any Engine or the APU removed from the Aircraft and the reasons for it being removed; 

  
 53 

	(b)	subject to paragraph (c) below, promptly furnish to Lessor all information Lessor from time to time reasonably requests regarding the Aircraft, any Engine, the APU
or any Part, its use, location and condition including, without limitation, the hours available on the Aircraft, the APU, the Landing Gear and any Engine until the next scheduled check, inspection, overhaul or shop visit, as the case may be;

  

	(c)	within ten (10) days after the end of each calendar month during the Term, provide Lessor with a monthly utilisation report on the Aircraft and each Engine in the
form specified in Exhibit F or such other form as may be required from time to time by Lessor (and the inclusion in such monthly report of the information referred to in paragraphs (a) and (b) above shall satisfy Lessee’s obligations
under those paragraphs); and 

  

	(d)	give Lessor not less than sixty (60) days written notice as to the time and location of all scheduled C Checks, Major Checks, any Engine Performance Restoration,
any APU Performance Restoration and any Landing Gear Overhaul and prompt prior notice of any non-scheduled or unplanned Engine Performance Restoration, APU Performance Restoration and any Landing Gear Overhaul. 

 

	2.3	Inspection: 

  

	(a)	Lessor, the Security Trustee, the Lease Manager and any person designated by Lessor, the Security Trustee or the Lease Manager (the “Inspecting
Parties”) may at any time visit, inspect, examine and survey the Aircraft, any Engine, any Part or the Aircraft Documents and for such purpose may, subject to any applicable insurance requirements and Air Authority regulation, travel on the
flight deck as observer; 

  

	(b)	Lessee will pay to Lessor on demand all reasonable out-of-pocket expenses incurred by the Inspecting Parties in connection with any such visit, inspection or survey
where there exists a Default in respect of Lessee’s maintenance covenants under this Appendix 6 or where the inspection is required following the occurrence of an Event of Default; and 

 

	(c)	no Inspecting Party will have a duty or liability to make or assume liability arising out of, any such visit, inspection or survey and so long as no Default has
occurred and is continuing, no Inspecting Party will exercise such right more than once annually (unless a shop visit or check has occurred in which case any Inspecting Party may inspect the Aircraft and the Aircraft Documents after any such shop
visit or check) other than at reasonable times and on reasonable notice and so as not to disrupt the normal commercial operations of Lessee. 

  

	2.4	Records 

 Lessee will:

  

	(a)	procure that accurate, complete and current records of all flights made by, and all maintenance carried out on, the Aircraft (including in relation to each Engine and
Part subsequently installed, before the installation) are kept in accordance with the requirements of the Air Authority, the FAA and EASA; keep the records in such manner as the Air Authority, the FAA and EASA may from time to time require, and
ensure that they comply with the recommendations of the manufacturers of the Aircraft, any Engine or any Part. The records will form part of the Aircraft Documents; 

 

	(b)	procure access to a revision service in respect of, and will maintain with appropriate revisions in English, all Aircraft Documents, records, logs, and other materials
required by applicable laws and best practice of major international air transport operators in respect of the Aircraft; 

  
 54 

	(c)	at Delivery and Redelivery and at each time that the Agreed Maintenance Programme is amended, maintain a cross reference list between all Maintenance Planning Document
tasks and the tasks in the Agreed Maintenance Programme; and 

  

	(d)	on request (but not more frequently than once a year provided no Default has occurred and is continuing) permit Lessor, the Lease Manager and any other person
designated by Lessor to electronically scan the Aircraft Documents. 

  

	3	MAINTENANCE COVENANTS 

  

	3.1	Maintenance and Repair 

Lessee will maintain and repair the Aircraft in the same manner as similar Fleet Aircraft without in any way materially discriminating
against the Aircraft and will in addition: 
  

	(a)	keep the Aircraft airworthy in all respects (except when undergoing maintenance repair, overhaul or modification pursuant to and in accordance with the provisions of
this Agreement where a certificate of release to service will return the Aircraft to an airworthy condition) and in good repair and condition; 

  

	(b)	not make any major change to the Agreed Maintenance Programme or the schedule of the Agreed Maintenance Programme unless: 

 

	 	(i)	required by the Air Authority or the Manufacturer; or 

  

	 	(ii)	consented to by Lessor, such consent not to be unreasonably withheld; 

  

	(c)	maintain the Aircraft in accordance with any requirements and recommendations of the Manufacturers and the Agreed Maintenance Programme through the Agreed Maintenance
Performer and perform (at the respective intervals provided in the Agreed Maintenance Programme) all checks on a ***** (no sampling permitted); 

  

	(d)	maintain and certify the Aircraft at an EASA and FAA approved maintenance facility acceptable to Lessor and maintain the Aircraft and the Aircraft Documents in
accordance with EASA and FAA Federal Air Regulations Part 129 and the Air Authority (except to the extent of any conflict with the Air Authority requirements) and as otherwise required by this Agreement; 

 

	(e)	comply with all mandatory inspection and modification requirements/recommendations, Airworthiness Directives, Mandatory Service Bulletins (which are either mandatory or
in respect of which Lessee is complying for its other Fleet Aircraft) and similar mandatory requirements applicable to the Aircraft, any Engine or Part having a compliance date during the Term and which are required by the Air Authority, the FAA
and/or EASA; 

  

	(f)	comply with all applicable laws and regulations of the Air Authority and other aviation authorities with jurisdiction over Lessee or the Aircraft, any Engine or Part
regardless of upon whom such requirements are imposed and which relate to the maintenance, condition, use or operation of the Aircraft or require any modification or alteration to the Aircraft, any Engine or Part; 

 

	(g)	maintain in good standing a current certificate of airworthiness (in the appropriate category for the nature of the operations of the Aircraft) for the Aircraft issued
by the Air Authority and will from time to time provide to Lessor a copy on request; 

  

	(h)	maintain current certification as to maintenance issued by or on behalf of the Air Authority in respect of the Aircraft and will from time to time provide to Lessor a
copy on request, such request to be given no more than once annually unless a Default has occurred and is continuing; and 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 55 

	(i)	procure promptly the replacement of any Engine or Part which has become time, cycle or calendar expired, lost, stolen, seized, confiscated, destroyed, damaged beyond
repair, unserviceable or permanently rendered unfit for use, with an engine or part complying with the conditions set out in paragraph 3.3(a) (subject to the terms of paragraph 3.3 (b) if applicable). 

 

	3.2	Removal of Engines and Parts 

 Lessee will ensure that no Engine or Part installed on the Aircraft is at any time removed from the Aircraft other than: 
  

	(a)	if replaced as expressly permitted by this Agreement; or 

  

	(b)	if the removal is of an obsolete item and is in accordance with the Agreed Maintenance Programme; or 

 

	(c)	

  

	 	(i)	during the course of maintaining, servicing, repairing, overhauling or testing that Engine or the Aircraft, as the case may be; or 

 

	 	(ii)	as part of a normal engine or part rotation programme; or 

  

	 	(iii)	for the purpose of making such modifications to the Engine or the Aircraft, as the case may be, as are permitted under this Agreement; 

and then in each case only if it is reinstalled or replaced by a Suitable Replacement Engine or Replacement Part complying with paragraph
3.3(a) below (and subject to the terms of paragraph 3.3(b) where applicable) as soon as practicable and in any event no later than the Expiry Date in the case of a Replacement Part and no later than three (3) months prior to the Expiry Date in
the case of a Suitable Replacement Engine. Without prejudice to the generality of the foregoing, Lessee may not replace an Engine with a Suitable Replacement Engine save in the case of a Total Loss of an Engine. 

 

	3.3	Installation of Engines and Parts 

  

	(a)	Subject always to paragraph 3.2 above, Lessee may install an engine or part on the Aircraft if: 

 

	 	(i)	in the case of an engine, it is a Suitable Replacement Engine; 

  

	 	(ii)	in the case of a part, it is a Replacement Part; 

  

	 	(iii)	in each case, it has become and remains the property of Lessor free from Security Interests and on installation on the Aircraft will without further act be subject to
the Mortgage and this Agreement; and 

  

	 	(iv)	in each case, Lessee has such details as to its source, maintenance records and life remaining as are required by the Air Authority and Lessee has for each Replacement
Part or Suitable Replacement Engine, such technical and maintenance records as would be included for the purposes of this Agreement in the Aircraft Documents in Part 3 of Appendix 8 for each such Suitable Replacement Engine or Replacement Part if
each such Suitable Replacement Engine or Replacement Part was then redelivered to Lessor pursuant to and in accordance with Appendix 8 of this Agreement; 

  
 56 

	(b)	Lessee will, if no Default has occurred which is continuing, be entitled to install any engine or part on the Aircraft by way of replacement notwithstanding paragraph
3.3(a) if: 

  

	 	(i)	there is not available to Lessee at the time and in the place that that engine or part is required to be installed on the Aircraft, a replacement engine or, as the case
may be, part complying with the requirements of paragraph 3.3(a); 

  

	 	(ii)	it would result in an unreasonable disruption of the operation of the Aircraft and/or the business of Lessee to ground the Aircraft until an engine or part, as the case
may be, complying with paragraph 3.3(a) becomes available for installation on the Aircraft; and 

  

	 	(iii)	as soon as practicable after installation of the same on the Aircraft but, in any event, no later than the Expiry Date in the case of a part and three (3) months
prior to the Expiry Date in the case of an engine, Lessee removes any such engine or part and replaces it with the Engine or Part replaced by it or by a Suitable Replacement Engine (if expressly permitted by paragraph 3.2 of this Appendix 6) or a
Replacement Part and otherwise complying with paragraph 3.3(a). 

  

	3.4	Non-Installed Engines and Parts 

 Lessee will: 
  

	(a)	ensure that any Engine or Part which is not installed on the Aircraft (or any other aircraft as permitted by this Agreement) is, except as expressly permitted by this
Agreement, properly and safely stored, and kept free from Security Interests; 

  

	(b)	notify Lessor whenever any Engine is removed from the Aircraft and, from time to time, on request procure that any person (other than an Agreed Maintenance Performer)
to whom possession of an Engine is given executes, prior to receipt of possession, a Recognition of Rights Agreement (or the relevant agreement with such person contains language substantially similar to the provisions of paragraph 3.8 of this
Appendix 6) each of which is enforceable by Lessor and the Security Trustee under the Contracts (Rights of Third Parties) Act 1999 under English law or pursuant to the relevant governing law of the relevant agreement; and 

 

	(c)	(notwithstanding the foregoing provisions of this sub-paragraph), be permitted, if no Default has occurred and is continuing, to install any Engine (provided any such
Engine continues to be maintained by the Agreed Maintenance Performer) or Part on an aircraft, or in the case of a Part, an engine: 

  

	 	(i)	owned and operated by Lessee free from Security Interests; or 

  

	 	(ii)	leased or hired to Lessee pursuant to a lease or conditional sale agreement on a long-term basis and on terms whereby Lessee has full operational control of that
aircraft or engine; or 

  

	 	(iii)	acquired by Lessee and/or financed or refinanced, and operated by Lessee, on terms that ownership of that aircraft or engine, as the case may be, pursuant to a lease or
conditional sale agreement, or a Security Interest therein, is vested in or held by any other person; 

 provided
that in all cases Lessee gives Lessor reasonable prior written notice and in the case of (ii) and (iii): 
  

	 	(A)	the terms of any such lease, conditional sale agreement or Security Interest will not have the effect of prejudicing the interests of Lessor, the Security Trustee or
the Lenders in that Engine or Part or the interests of Lessor, the Security Trustee and the Lenders in respect thereof under the Assignment and the Mortgage; and 

  
 57 

	 	(B)	the lessor under such lease, the seller under such conditional sale agreement or the holder of such Security Interest, as the case may be, has, prior to installation,
entered into a Recognition of Rights Agreement (or the lease, conditional sale agreement or the relevant security interest contains language substantially similar to the provisions of paragraph 3.8 of this Appendix 6) each of which is enforceable by
Lessor and the Security Trustee under the Contracts (Rights of Third Parties) Act 1999 under English law or pursuant to the relevant governing law of the relevant lease, conditional sale agreement or other security agreement.

  

	3.5	Equipment Changes 

  

	(a)	Lessee will not make any modification or addition to the Aircraft (each an “Equipment Change”), except for an Equipment Change which:

  

	 	(i)	is expressly permitted by this Agreement; or 

  

	 	(ii)	is required to in order to change the interior configuration of the Aircraft from 180Y to 174Y; or 

 

	 	(iii)	has the prior written approval of Lessor which approval will not be unreasonably withheld or delayed where the Equipment Change does not diminish or impair the value,
utility, condition, or airworthiness of the Aircraft; or 

  

	 	(iv)	arises as a result of the requirements of the Air Authority, the Manufacturer, EASA or FAA which Equipment Change shall be for the account of Lessee; or

  

	 	(v)	has a cost (including labour, overheads, engineering supplies, materials and third party costs) no greater than ***** and which is performed pursuant to the original
equipment manufacturer service bulletin; 

  

	(b)	So long as no Event of Default has occurred and is continuing, Lessee may remove any Equipment Change provided such removal does not diminish or impair the value,
utility, condition or airworthiness of the Aircraft; and 

  

	(c)	Lessor may require Lessee to remove any Equipment Change and to restore the Aircraft to its condition as it was prior to that Equipment Change except to the extent such
Equipment Change is required to comply with the Return Condition. 

  

	3.6	Title on an Equipment Change: 

  

	(a)	Title to all Engines and Parts installed on the Aircraft whether by way of replacement, as the result of an Equipment Change or otherwise (except those installed
pursuant to paragraph 3.3(b)) will on installation, without further act, vest in Lessor subject to the Mortgage, this Agreement and the Assignment free and clear of all other Security Interests. Lessee will at its own expense take all such steps and
execute, and procure the execution of, all such instruments as Lessor may require and which are necessary to ensure that title so passes to Lessor according to all applicable laws. At any time when requested by Lessor, Lessee will provide evidence
to Lessor’s satisfaction (including the provision, if required, to Lessor of one or more legal opinions, the cost of any English law opinion to be borne by Lessor) that title has so passed to Lessor. 

 

	(b)	Any Engine or Part at any time removed from the Aircraft will remain the property of Lessor until a replacement has been made in accordance with this Agreement and
until title in the Suitable Replacement Engine or Replacement Part, as applicable, has passed, according to applicable laws, to Lessor subject to the Mortgage, the Assignment and this Agreement free of all Security Interests whereupon title to the
replaced Engine or Part will pass to Lessee free and clear of Lessor Liens. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 58 

	3.7	Pooling of Parts 

 So long
as no Default has occurred and is continuing Lessee may lease, let or hire or charter or otherwise part with possession of a Part (on terms conferring no more than a contractual right against Lessee but not rights against the Part) pursuant to
pooling arrangements to which Lessee is a party and which either: 
  

	(a)	     

  

	 	(i)	are arrangements involving responsible, solvent scheduled commercial air carriers or aircraft operators or the manufacturers, servicers or suppliers of the Part; and

  

	 	(ii)	do not contemplate transfer of title to the pooled Part except where title to the relevant Replacement Part passes, in accordance with paragraph 3.3(a) above at the
same time to Lessor; or 

  

	(b)	are otherwise acceptable to Lessor in its sole discretion. 

  

	3.8	Title to Engines 

 Lessor
agrees, for the benefit of Lessee and for the benefit of any mortgagee, indenture trustee, or other holder of a security interest in any engine (other than an Engine) owned by Lessee, any lessor of any engine (other than an Engine) leased to Lessee
and any conditional vendor of any engine (other than an Engine) purchased by Lessee subject to a conditional sale agreement or any other security agreement, that no interest shall be created hereunder in any engine so owned, leased or purchased and
that neither Lessor, the Security Trustee or any Lender nor their successors or assigns will acquire or claim, as against Lessee or any such mortgagee, indenture trustee, lessor or conditional vendor or other holder of a security interest or any
successor or assignee of any thereof, any right, title or interest in such engine as the result of such engine being installed on the Airframe; provided however that such agreement of Lessor shall not be for the benefit of any such mortgagee,
indenture trustee, lessor or conditional vendor or other holder of a security interest or any successor or assignee of any thereof unless it has expressly agreed substantially on the same terms as set out herein or otherwise on terms satisfactory to
Lessor acting reasonably (which agreement may be contained in such lease, conditional sale or other security agreement, indenture or mortgage or in a Recognition of Rights Agreement) that neither it nor its successors or assigns will acquire, as
against Lessor, any right, title or interest in an Engine as a result of such Engine being installed on an airframe (other than the Airframe). 
  

	4	PRESERVATION OF ASSET 

  

	4.1	Sub-Leasing 

  

	(a)	Lessee shall not, without the prior written consent of Lessor, sublease, charter, hire or otherwise part with the possession or operational control of the Aircraft
except: 

  

	 	(i)	for testing, service, overhaul work, maintenance or repair or alterations, modifications or additions permitted under this Agreement; or 

 

	 	(ii)	so long as no Default is continuing (or may result from the proposed Wet Lease or Permitted Sublease), on terms of a Wet Lease or a Permitted Sublease.

  

	(b)	Lessee shall give Lessor written notice prior to entering into any Wet Lease, save where it is not operationally practicable to do so, in which case, Lessee shall give
Lessor written notice of any such Wet Lease as soon as reasonably practicable after entering into any such Wet Lease. 

  
 59 

	(c)	A sublease will only be a Permitted Sublease where Lessee has complied with the requirements of Clause 4.1(d) and: 

 

	 	(i)	the sublessee is a Permited Sublessee; and 

  

	 	(ii)	the proposed sublease: 

  

	 	(A)	does not permit further subleasing without the consent of Lessor; 

  

	 	(B)	does not have a term (including any extension options) that extends beyond the date falling one (1) month prior to the Expiry Date; and 

 

	 	(C)	the rights of the Permitted Sublessee under the sublease are expressly stated in the sublease to be subject and subordinate to this Agreement and to the rights and
interests of Lessor, the Lenders and the Security Trustee hereunder and the other Transaction Documents. 

  

	(h)	Prior to entry into the sublease: 

  

	 	(i)	Lessee shall give Lessor and the Security Trustee, no later than thirty (30) days prior to the proposed commencement of the sublease, a notice specifying the name
of the proposed sublessee (which shall be a Permitted Sublessee) and, if applicable, the name of any proposed new State of Registration and/or Habitual Base; 

 

	 	(ii)	Permitted Sublessee shall provide Lessor and the Security Trustee with an acknowledgment in writing, in form and substance satisfactory to Security Trustee, no later
than five (5) Business Days prior to delivery of the Aircraft under the relevant sublease, acknowledging that the rights of the sublessee under the sublease are subject and subordinate to this Agreement and to the rights and interests of the
Lessor, the Lenders and the Security Trustee under this Agreement and the other Transaction Documents and that the termination of this Agreement or the leasing of the Aircraft hereunder shall (without any further action) result in the termination of
the relevant sublease or the leasing of the Aircraft thereunder; 

  

	 	(iii)	Lessee shall provide Lessor and the Security Trustee with a satisfactory confirmation of the registration at the International Registry of: 

 

	 	(A)	any International Interest to be vested in Lessee under the sublease; and 

  

	 	(B)	an assignment of all of the associated rights and related International Interest of Lessee in favour of the Security Trustee, 

if either: 
  

	 	(1)	the new State of Registration or the jurisdiction of incorporation of the Permitted Sublessee is a Contracting State for the purposes of the Cape Town Convention; or

  

	 	(2)	the Permitted Sublessee is situated in a Contracting State for the purposes of Article 4 of the Cape Town Convention; 

 

	 	(iv)	if the new State of Registration is a Contracting State for the purposes of the Cape Town Convention, Lessee shall: (i) procure the execution of an IDERA by the
Permitted Sublessee irrevocably appointing the Security Trustee as its certified designee under the IDERA and, to the extent permitted by applicable law, its recordation by the relevant Air Authority, and authorising the Security Trustee to exercise
the remedies specified in Article 15(1) of the Cape Town Convention at Security Trustee’s sole discretion; and (ii) following recordation, deliver the IDERA to the Security Trustee; 

  
 60 

	 	(v)	Lessee shall provide to Lessor and the Security Trustee evidence satisfactory to Lessor and the Security Trustee (acting reasonably) that: 

 

	 	(A)	Lessee will remain in compliance with Appendix 7 during the term of the sublease; or 

 

	 	(B)	if the proposed sublease is to maintain insurance coverage during the term of the sublease, the proposed insurance coverage is on terms equivalent to the Insurances

  

	 	(vi)	Lessor and the Security Trustee shall be satisfied (acting reasonably) that: 

 

	 	(A)	the rights and interests of Lessor, the Lenders and the Security Trustee in respect of the Aircraft or any Transaction Document and the right to repossess the Aircraft
in the case of an Event of Default or an Event of Default (as defined under the Loan Agreement) (as applicable) will not be adversely affected by the subleasing; 

 

	 	(B)	the perfection of the interests of Lessor, the Lenders and the Security Trustee in respect of the Aircraft and under the Transaction Documents;

  

	 	(C)	if a new State of Registration or Habitual Base is proposed, that as compared to the State of Registration or Habitual Base, respectively, as at the Delivery Date, the
jurisdiction of the proposed new State of Registration and Habitual Base provides substantially equivalent or better protection for the rights of lessors, owners, lenders and mortgagees and imposes no less stringent aircraft maintenance standards
taken as a whole; 

  

	 	(D)	such sublease will not result in the imposition of, or increase in the amount of, any Tax, fees, costs or expenses for which Lessee does not then enter into a binding
agreement to indemnify, each Indemnitee to its satisfaction against such imposed or increased Taxes, fees, costs or expenses; and 

  

	 	(E)	the due execution by Lessee and the Permitted Sublessee of the proposed sublease and effectiveness of the subordination undertaking referred to in Clause 4.1(d)(ii)
above, 

 and Lessee shall provide such assistance as may be reasonably required to demonstrate sub-paragraphs
(A) to (E) above, including, but not limited to, procuring opinions from independent legal and/or tax counsel (and/or, as applicable, independent technical advisers) in each case acceptable to Lessor and the Security Trustee (acting
reasonably). 
  

	(e)	Where the Aircraft is subleased under a Permitted Sublease pursuant to this Clause 4.1: 

 

	 	(i)	the Aircraft may be registered with the Air Authority of the country in which the Permitted Sublessee is organised, subject to the satisfaction of the relevance
conditions of Clauses 4.1(c) and (d) above; and 

  

	 	(ii)	 upon the termination of any such sublease, at the election of Lessor, either (x) in connection with Redelivery under this Agreement, Lessee shall
procure that the Aircraft is deregistered from the then current jurisdiction of registration, or (y) Lessee shall procure that the Aircraft is re-registered in the State of Registration as at the Delivery Date and provide (1) a
confirmation in form and substance 

  
 61 

	 	
satisfactory to Lessor and the Security Trustee (acting reasonably) from counsel acceptable to the Security Trustee and addressed to Lessor and the Security Trustee that the relevant legal
opinion provided pursuant to Appendix 4, Part 1, Clause 1.1(b)(ii) remains valid, correct and applicable to such re-registration in such State of Registration and the rights and interests of Lessor, the Lenders and the Security Trustee or (2) a
new legal opinion, from counsel approved by Lessor and the Security Trustee (acting reasonably) on substantially similar terms to that set out in Appendix 4, Part 1, Clause 1.1(b)(ii). 

 

	(f)	Notwithstanding any sublease of the Aircraft, Lessee shall remain fully liable to perform its obligations under this Agreement and the other Transaction Documents to
which it is a party but to the extent the relevant Permitted Sublessee properly performs an obligation under the Permitted Sublease, Lessor agrees that such performance shall be regarded as discharging (to such extent) any corresponding obligations
of Lessee under the Transaction Documents to which it is a party. 

  

	(g)	Lessee shall (i) deliver to Lessor and the Security Trustee, within seven (7) Business Days after the date of execution of any Permitted Sublease, a duly
executed copy of it, (ii) not materially amend or vary the terms thereof without the prior approval of Lessor, and (iii) deliver to Lessor and the Security Trustee, within seven (7) Business Days after the date of execution of any
such material amendment, a duly executed copy of it. 

  

	(h)	If the International Interest vesting in Lessee under the Permitted Sublease has been registered at the International Registry, Lessee shall discharge the registration
and each registration of any related assignment promptly on request by Lessor or the Security Trustee or promptly following termination of the period of subleasing of the Aircraft under the sublease and redelivery of the Aircraft thereunder.

  

	(i)	If an event of default (howsoever described), or event which with the giving of notice, lapse of time or fulfilment of any other condition may constitute such an event,
is continuing under a Permitted Sublease whilst a Permitted Sublessee is in possession of the Aircraft, Lessee shall (i) promptly notify Lessor (with a copy to the Security Trustee) of the events and the steps that it is proposing to take to
enforce the terms of the Permitted Sublease and the steps that it is proposing to take to enforce the terms of the Permitted Sublease or recover possession of the Aircraft and (ii) take all such steps as Lessor or the Security Trustee may
instruct (acting reasonably). 

  

	(j)	Lessee shall pay on demand all reasonable costs and expenses associated with entering into a Permitted Sublease or change of State of Registration including the
reasonable costs and expenses of Lessor and the Security Trustee (including reasonable legal fees and expenses). 

  

	4.2	Title 

 Lessee will:

  

	(a)	not do or knowingly permit to be done or omit or knowingly permit to be omitted to be done any act or thing which might reasonably be expected to jeopardise the rights
of Lessor hereunder or as owner of the Aircraft or the rights of the Security Trustee as mortgagee of the Aircraft and as assignee under the Assignment or the validity, enforceability or priority of the Mortgage and the Assignment;

  

	(b)	on all occasions when the ownership of the Aircraft, any Engine or any Part is relevant, make clear to third parties that title is held by Lessor subject to the
Mortgage; 

  

	(c)	not at any time (i) represent or hold out Lessor, the Security Trustee, the Lease Manager or the Lenders as carrying goods or passengers on the Aircraft or as
being in any way connected or associated with any operation or carriage (whether for hire or reward or gratuitously) which may be undertaken by Lessee or (ii) pledge the credit of Lessor, the Lease Manager, the Security Trustee or the Lenders;

  
 62 

	(d)	ensure that there is always affixed, and not removed or in any way obscured, a fireproof plate (having dimensions of not less than 10 cm. x 7 cm.) in a reasonably
prominent position on the Aircraft and on each Engine stating: 

 “This Aircraft/Engine is owned by Amentum
Aircraft Leasing No. Three Limited, is operated by Concesionaria Vuela Compañía de Aviación, S.A.P.I de C.V., is subject to a mortgage in favour of [the Security Trustee] and may not be operated by any other person without the
prior written consent of [the Security Trustee]”; 
  

	(e)	not create or permit to exist any Security Interest upon the Aircraft, any Engine or any Part; 

 

	(f)	not do or permit to be done anything which may reasonably be expected to expose the Aircraft, any Engine or any Part to penalty, forfeiture, impounding, detention,
appropriation, damage or destruction and without prejudice to the foregoing, if any such penalty, forfeiture, impounding, detention or appropriation, damage or destruction occurs, give Lessor notice and use best endeavours to procure the immediate
release of the Aircraft, any Engine or the Part, as the case may be; 

  

	(g)	not abandon the Aircraft, any Engine or any Part; 

  

	(h)	pay and discharge or cause to be paid and discharged when due and payable or make adequate provision by way of security or otherwise for all debts, damages, claims and
liabilities which have given or may reasonably be expected to give rise to a Security Interest created by Lessee over or affecting the Aircraft, any Engine or any Part; and 

 

	(i)	not attempt, or hold itself out as having any power, to sell, lease or otherwise dispose of the Aircraft, any Engine or any Part. 

 

	4.3	Protection 

 Lessee will:

  

	(a)	maintain the registration of the Aircraft with the Air Authority reflecting (so far as permitted by applicable law) the respective interests of Lessor, and at
Lessor’s cost, the Security Trustee and the Lenders and not do or suffer to be done anything which might adversely affect that registration; and 

  

	(b)	do all acts and things (including, without limitation, making any filing or registration with the Air Authority or any other Government Entity) and execute and deliver
all documents (including, without limitation, any amendment to this Agreement) as may be required by Lessor: 

  

	 	(i)	at Lessor’s expense, following any change or proposed change in the ownership or financing of the Aircraft or in the manner of securing Lessor’s obligations
to the Security Trustee and Lenders and/or Lessee’s obligations to Lessor provided that any transfer complies with the provisions of Appendix 10 or are otherwise agreed to by Lessee; or 

 

	 	(ii)	following any modification of the Aircraft, any Engine or any Part or the permanent replacement of any Engine or Part in accordance with this Agreement, so as to ensure
that the rights of Lessor under this Agreement and the rights of the Security Trustee and the Lenders under the Mortgage and the Assignment in respect thereof apply with the same effect as before; or 

  
 63 

	 	(iii)	to establish, maintain, preserve, perfect and protect the respective rights of Lessor under this Agreement and as owner of the Aircraft and, at Lessor’s cost and
expense, the Security Trustee and the Lenders in the Mortgage and the Assignment. 

  

	4.4	Cape Town Convention 

  

	(a)	In this Agreement, the Convention and the Protocol shall be read and interpreted together as a single instrument as required by Article 6(1) of the Convention. In this
paragraph 4.4 the following expressions have the respective meanings given to them in Article 1 of the Consolidated Text: 

 aircraft engines 
 aircraft object 

assignment 

associated rights 

contract of sale 

creditor 

international interest 
 leasing agreement 
 registry authority 

security agreement 
 State of registry 
  

	(b)	Lessor and Lessee agree that: 

  

	 	(i)	without prejudice to paragraphs 4.1, 4.2 and 4.3 of this Appendix 6, the Aircraft shall be registered on the aircraft register of the State of Registration, which is
the State of registry for the purposes of the Convention; 

  

	 	(ii)	the Airframe is an airframe and, accordingly, is an aircraft object to which this Agreement relates for the purposes of the Convention and is an A320-200 aircraft with
manufacturer’s serial number 3543 and the Engines are aircraft engines and, accordingly, aircraft objects for the purposes of the Convention and are V2527E-A5 engines with manufacturer’s serial numbers V12938 and V12972;

  

	 	(iii)	the international interest of Lessor, as a creditor, in the Airframe and each of the Engines, being the lessor under a leasing agreement of an aircraft object, shall be
registered, with the consent of each of Lessor and Lessee, as an international interest under the Convention in each of the Airframe and the Engines, and such registration may be amended or extended prior to its expiry by either Lessor or Lessee,
with the consent in writing of the other, such consent not to be unreasonably withheld or delayed; 

  

	 	(iv)	the events which are referred to in Part 1 of Appendix 9 as Events of Default are events that constitute a default or otherwise give rise to the rights and remedies
specified in Articles 12 to 15 and 20 of the Consolidated Text; 

  
 64 

	 	(v)	Lessor shall have the remedies referred to in Articles 15(1) and 20(1) of the Consolidated Text; 

 

	 	(vi)	Lessor has power to dispose of the Airframe and the Engines for the purpose of Article 10(b) of the Consolidated Text subject to and in accordance with the Transaction
Documents; 

  

	 	(vii)	Lessee shall, on or prior to Delivery, execute and deliver to Lessor an IDERA in favour of the Lessor in the form annexed as an Annex to the Protocol;

  

	 	(viii)	Lessor may assign the associated rights (as defined in Article 1 of the Consolidated Text) under the Assignment or any other assignment permitted in accordance with
Appendix 10, which associated rights consist of all rights to payment or other performance by Lessee (as debtor) under this Agreement and are associated with the Airframe and the Engines being aircraft objects for the purposes of the Convention. Any
such assignment shall be made in accordance with and subject to the conditions specified in Appendix 10 and shall transfer to the relevant assignee the related international interests of Lessor; and 

 

	 	(ix)	Lessee shall cooperate with Lessor, at Lessee’s expense, with respect to effecting registration pursuant to the Convention of the international interests of any
Lender or the Security Trustee as creditor in respect of the security agreement and the assignment constituted by any Mortgage and any Assignment and of any associated agreement related to the ranking of priority between the various international
interests and/or the interests of Lessee; 

  

	(c)	If any of the Engines is replaced by a Suitable Replacement Engine pursuant to and in accordance with this Agreement, Lessor and Lessee shall, at Lessee’s expense
and on or prior to title to the Suitable Replacement Engine being vested in Lessor, take such steps as shall be available to them under the terms of the Convention and as are necessary: 

 

	 	(i)	to constitute in favour of Lessor as a creditor (being the lessor under a leasing agreement of an aircraft object) an international interest in the Suitable Replacement
Engine, including, for this purpose, entering into a supplement to this Agreement in such form as Lessor shall reasonably require providing that the Suitable Replacement Engine (which shall be identified in such supplement in the same manner as is
provided in paragraph 4.4(b)(ii)above) shall be leased by Lessor to Lessee with effect from title to the same vesting in Lessor under the contract of sale referred to in paragraph 4.4(c)(iii) below and that the Suitable Replacement Engine shall be
an Engine for the purposes of this Agreement; 

  

	 	(ii)	to register such international interest in accordance with Chapter V of the Consolidated Text; 

 

	 	(iii)	to enter into a contract of sale with respect to the Suitable Replacement Engine which complies with the formalities of Article 11 of the Consolidated Text;

  

	 	(iv)	to register the contract of sale with respect to the Suitable Replacement Engine in accordance with Chapter V of the Consolidated Text; 

 

	 	(v)	if required by any person who has acquired title to the Replaced Engine from Lessor, to enter into a contract of sale with respect to the Replaced Engine which complies
with the formalities of Article 11 of the Consolidated Text and consent to the registration of such contract of sale in accordance with Chapter V of the Consolidated Text; and 

 

	 	(vi)	 to subject the relevant Suitable Replacement Engine to the security constituted by any Mortgage, and to register the international interest of the
Security Trustee 

  
 65 

	 	
under any Mortgage in respect of such Suitable Replacement Engine in accordance with Chapter V of the Consolidated Text. 

 

	(d)	Without prejudice to any of the foregoing provisions of this paragraph 4.4, Lessee shall do or cause to be done (in conjunction with Lessor where necessary) any and all
acts which may be required or desirable in connection with the terms of the Convention, to the extent permitted by the law of the State of Registration, to register, perfect, preserve and/or enhance any international interests of Lessor and/or the
Security Trustee with respect to aircraft objects to which the Transaction Documents to which Lessee is a party relate. 

  

	(e)	Pursuant to Article XI, Option B of the Protocol and Article XXX(3) the parties hereby agree that the time period required by Article XI, Alternative B of the Protocol
shall be the twenty (20) day period referred to in article 92 of the Mexican Ley de Concursos Mercantiles in respect of any procedure referred to in said law. 

 4.5 
  

	(a)	If the State of Registration has ratified the terms of the Geneva Convention, do all acts and things in the State of Registration which Lessor may reasonably require to
preserve the title, rights and interest of Lessor, and, at Lessor’s cost, the Security Trustee, to and in the Aircraft within the jurisdiction of any state which is a party to the Geneva Convention. 

 

	(b)	In the event of any other enactments or provisions being made or becoming operative relating to recognition of rights in aircraft and which may apply to the Aircraft,
promptly do and join with Lessor and, if appropriate, the Security Trustee and the Lenders in doing all such acts or things as may be necessary or reasonably desirable to perfect recognition of the title, rights and interest of Lessor, the Security
Trustee and the Lenders in respect of the Aircraft. 

  

	4.6	Lessor’s Financing 

Lessee acknowledges that Lessor may at any time during the Term grant new or further Security Interests over the Aircraft and the benefit
of the Transaction Documents to the Lenders and the Security Trustee or any new or replacement lenders or security trustee as security for Lessor’s obligations to the Lenders or such new or replacement lenders. Lessee undertakes to provide all
reasonable assistance and co-operation to Lessor, any Lenders and any Security Trustee and their respective representatives and advisers (at Lessor’s cost) in connection with the perfection and maintenance of such Security Interests, including
(without limitation) the effecting of all necessary filings and registrations in the State of Registration and the Habitual Base and with the International Registry and Lessor agrees to take all reasonable steps available to it to ensure that such
assistance and co-operation will not interfere with Lessee’s commercial operations provided that any security interests or assignment in favour of new or replacement lenders shall comply with the provisions of Appendix 10. To the extent that
Lessor is aware of the identity of any new or replacement Lenders, Lessor shall (subject always to any duty of confidentiality) give Lessee the names of any such Lenders. 

 

	4.7	Costs 

 Unless otherwise
specified in the Transaction Documents, all costs associated with compliance by Lessee with its obligations under the Transaction Documents shall be for the account of Lessee. 

  
 66 

 APPENDIX 7 
 PART 1 
 INSURANCE COVENANTS 

 

	1	Lessee will maintain or cause to be maintained in full force during the Term, and thereafter as expressly provided by this Agreement, insurances in respect of
the Aircraft (the “Insurances” which expression includes, where the context so admits, any relevant reinsurance(s)). The Insurances will be effected and maintained on a non-discriminatory basis compared with similar aircraft in
Lessee’s fleet. The Insurances will be effected either: 

  

	(a)	on a direct basis with insurers of recognised standing who normally participate in aviation insurances in the leading international insurance markets and led by
internationally recognised and reputable underwriter(s); or 

  

	(b)	with a single internationally recognised and reputable insurer or group of internationally recognised and reputable insurers who does or do not retain the risk but
effects ***** reinsurance of all risks insured with reinsurers in the leading international insurance markets and through brokers each of internationally recognised standing in the international aviation insurance markets (the
“Reinsurances”). 

  

	2	Lessor’s current requirements as to required Insurances are as specified in Part 2 of this Appendix 7. Lessor or the Security Trustee may from time to time
upon reasonable consultation with Lessee and its insurance advisers stipulate other requirements (other than as to the level of the deductible or the Agreed Value) for the Insurances so that the scope and level of cover is maintained in line with
the prudent practice of reputable and experienced international operators of aircraft operating aircraft similar to the Aircraft and the interests of Lessor, the Security Trustee and the Lenders are protected in accordance with such practices.

  

	3	If at any time Lessor’s or the Security Trustee’s insurance brokers (acting reasonably) consider that any change in circumstances may occur or has
occurred which in the reasonable opinion of such brokers may materially affect or has materially affected the rights of Lessor and other Indemnitees in and to the Insurances, then Lessor, the Security Trustee and their brokers will consult with
Lessee and Lessee’s brokers regarding what action is required to protect the interests of the parties insured. If, following the consultation, Lessor’s or the Security Trustee’s insurance brokers (acting reasonably) consider that any
change should be made (other than as to the level of the deductible or the Agreed Value) having regard to the level and type of Insurances, and the terms and conditions thereof, then maintained by reputable and experienced international operators of
aircraft operating aircraft similar to the Aircraft, Lessee will then arrange or procure the arrangement of alternative cover satisfactory to Lessor’s and the Security Trustee’s insurance brokers (acting reasonably).

  

	4	Lessee will: 

  

	(a)	ensure that all legal requirements as to insurance of the Aircraft, any Engine or any Part which may from time to time be imposed by the laws of the State of
Registration, the Habitual Base or any state to, from or over which the Aircraft may be flown, in so far as they affect or concern the operation of the Aircraft, are complied with to ensure that (i) the Aircraft is not in danger of detention or
forfeiture, (ii) the Insurances remain valid and in full force and effect, and (iii) the interests of the Indemnitees in the Insurances and the Aircraft, the Engines or any Part are not thereby prejudiced; 

  
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 67 

	(b)	not use, cause or permit the Aircraft, any Engine or any Part to be used for any purpose or in any manner not covered by the Insurances or outside any geographical
limit imposed by the Insurances; 

  

	(c)	comply with the terms and conditions of each policy of the Insurances and not do, consent or agree to any act or omission which invalidates or might reasonably be
expected to invalidate the Insurances, or renders or might reasonably be expected to render void or voidable the whole or any part of any of the Insurances; or brings any particular liability within the scope of an exclusion or exception to the
Insurances; 

  

	(d)	not take out without the prior written approval of Lessor any insurance or reinsurance in respect of the Aircraft other than those required under this Agreement which
would prejudice the rights or interest of Lessor or any of the other Indemnitees under or in respect of the Insurances and in no event maintain hull insurance in an amount in excess of ***** of the Agreed Value from time to time, unless relating
solely to business interruption, profit commission and deductible risk; 

  

	(e)	commence renewal procedures on a timely basis prior to expiry of any of the Insurances and provide to Lessor: 

 

	 	(i)	if requested by Lessor, a written status report of renewal negotiations fourteen (14) days prior to each expiry date; 

 

	 	(ii)	faxed confirmation of completion of renewal prior to each expiry date; and 

 

	 	(iii)	certificates of insurance (and where appropriate certificates of reinsurance), and broker’s (and any reinsurance brokers’) letter of undertaking in a form
acceptable to Lessor and the Security Trustee (each acting reasonably) in English, detailing the coverage and confirming the insurers’ (and any reinsurers’) agreement to the specified insurance requirements of this Agreement within 7 days
after each renewal date; 

  

	(f)	on request, provide to Lessor copies of such other documents as Lessor may reasonably request evidencing the Insurances provided that nothing in this paragraph
(f) shall require Lessee to give to Lessor a copy of Lessee’s fleet policy; 

  

	(g)	on request but no more frequently than once a year, unless a Default has occurred and is continuing, provide to Lessor evidence that the Insurance premiums have been
paid; 

  

	(h)	not make or accept any modification or alteration to the Insurances material and adverse to the interests of any of the Indemnitees; 

 

	(i)	be responsible for any deductible under the Insurances; 

  

	(j)	provide any other insurance and reinsurance related information, or assistance, in respect of the Insurances as Lessor may reasonably request but no more frequently
than once a year, unless a Default has occurred and is continuing; and 

  

	(k)	promptly notify Lessor of: 

  

	 	(i)	any loss, theft, damage or destruction to the Aircraft, any Engine or any Part, or any modification to the Aircraft if the potential cost may exceed *****; and

  

	 	(ii)	any claim or other occurrence likely to give rise to a claim under the Insurances in excess of ***** and reasonably sufficient details of any negotiations with the
insurance brokers over any such claim. 

  
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 68 

	(l)	ensure or procure that insurance cover is maintained in accordance with the provisions of this Part 1 of this Appendix 7 in respect of an Engine at all times while it
is removed from the Airframe; and 

  

	(m)	maintain separate insurance cover in accordance with the provisions of this Part 1 of this Appendix 7 in respect of an Engine at all times while it is removed from the
Airframe. 

  

	5	If Lessee fails to maintain the Insurances in compliance with this Agreement, each of the Indemnitees will be entitled but not bound, (without prejudice to any
other rights of Lessor under this Agreement): 

  

	(c)	to pay the premiums due or to effect and maintain insurances satisfactory to it or otherwise remedy Lessee’s failure in such manner (including, without limitation
to effect and maintain an “owner’s interest” policy) as it considers appropriate. Any sums so expended by it will become immediately due and payable by Lessee to Lessor together with interest thereon at the rate specified in
Clause 5.5, from the date of expenditure by the relevant Indemnitee up to the date of reimbursement by Lessee; and 

  

	(d)	at any time while such failure is continuing to require the Aircraft to remain at any airport or to proceed to and remain at any airport designated by it until the
failure is remedied to its satisfaction. 

  

	6	Lessee shall effect and maintain liability insurance after the Expiry Date with respect to its liability under the indemnities in Clause 11 for such period as
Lessor may reasonably require (but in any event not more than two (2) years or until completion of the next scheduled Major Check, whichever is earlier) which provides for each Indemnitee to be named as additional insured. Lessee’s
obligation in this paragraph shall not be affected by Lessee ceasing to be lessee of the Aircraft and/or any of the Indemnitees ceasing to have any interest in respect of the Aircraft. 

 

	7	Application of Insurance Proceeds 

  

	(a)	All hull insurance payments up to and including the Agreed Value received as the result of a Total Loss occurring during the Term will be paid to the Security Trustee
(or if requested by the Security Trustee, to Lessor) and Lessor will pay or procure the payment of the balance of those amounts to Lessee after deduction of all amounts which may be or become payable by Lessee to Lessor under this Agreement.

  

	(b)	All insurance proceeds of any property damage or loss to the Aircraft, any Engine or any Part occurring during the Term not constituting a Total Loss and in excess of
***** will be paid to the Security Trustee (or if requested by the Security Trustee, to Lessor) and applied in payment (or to reimburse Lessee) for repairs or replacement property upon Lessor being satisfied (acting reasonably) that the repairs or
replacement have been or are to be effected in accordance with this Agreement and any balance remaining (after deducting therefrom any amount of such insurance proceeds paid by the insurers in respect of a claim by Lessee for compensation for its
loss of use of the Aircraft) may be retained by the Security Trustee or Lessor, as the case may be. Insurance proceeds in amounts below ***** may be paid by the insurer directly to Lessee. 

 

	(c)	All insurance proceeds in respect of third party liability will, except to the extent paid by the insurers to the relevant third party, be paid to the Security Trustee
or as directed by the Security Trustee, to Lessor to be paid directly in satisfaction of the relevant liability or to Lessee in reimbursement of any payment so made. 

 

	(d)	Notwithstanding paragraphs 7(a), (b) or (c), if at the time of the payment of any such insurance proceeds an Event of Default has occurred and is continuing, all
such proceeds will be paid to or retained by the Security Trustee (or if requested by the Security Trustee, to Lessor) to be applied toward payment of any amounts which may be or become payable by Lessee during any period when such Event of Default
is continuing in such order as Lessor sees fit or as Lessor may elect. 

  
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 69 

	(e)	To the extent that insurance proceeds are paid to Lessee, Lessee agrees to comply with the foregoing provisions of this paragraph 7 and apply or pay over such proceeds
as so required. 

  
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 APPENDIX 7 
 PART 2 
 INSURANCE REQUIREMENTS 

The Insurances required to be maintained are as follows: 
  

	(a)	HULL ALL RISKS of Loss or Damage whilst flying and on the ground with respect to the Aircraft on an “agreed value basis” for an amount not less than
the Agreed Value, and not greater than ***** of the Agreed Value from time to time, and with a deductible (other than in respect of a Total Loss) not exceeding ***** or such other amount agreed by Lessor from time to time; 

 

	(b)	HULL WAR AND ALLIED PERILS, covering such risks excluded from the Hull All Risks Policy to the fullest extent maintained by prudent, experienced international operators
of aircraft similar to the Aircraft and at least as extensive as AVB48B (or its equivalent in respect of liabilities, other than paragraph (b)) and LSW 555D (or its equivalent in respect of Hull) from the leading international insurance markets
including confiscation and requisition by the State of Registration for an amount not less than the Agreed Value and not greater than ***** of the Agreed Value from time to time; 

 

	(c)	SPARES ALL RISKS (INCLUDING WAR AND ALLIED PERILS) property insurance on all Engines and Parts when not installed on the Aircraft on an “agreed value”
basis for their full replacement value and including engine test and running risks; 

  

	(d)	AVIATION THIRD PARTY LEGAL LIABILITY to the fullest extent maintained by prudent, experienced international operators of aircraft similar to the Aircraft from leading
international insurance markets including but not limited to aircraft third party, passenger, baggage, cargo, mail and general third party legal liability for a Combined Single Limit of an amount not less than the Minimum Liability Coverage or such
higher amount as may be applicable to Lessee’s policy covering its Fleet Aircraft for the time being any one occurrence but in respect of products and completed operations this limit may be an aggregate limit for any and all losses occurring
during the currency of the policy and further limited to ***** (or such higher amount as may be applicable to Lessee’s policy covering its Fleet Aircraft) any one occurrence and in the aggregate in respect of personal injury coverage. War and
Allied Risks are also to be covered under Extended Coverage Endorsement AVN52E (or its equivalent) for an amount not less than ***** or such higher amount as may be applicable to Lessee’s policy covering its Fleet Aircraft for any one
occurrence and in the annual aggregate. Any aggregation of limits will be subject to limits being restored following any claims which have been paid; 

  

	(e)	all required hull, hull war and spares insurance (as specified in (a), (b) and (c)), so far as it relates to the Aircraft will: 

 

	 	(i)	name the Security Trustee as loss payee (in an amount up to and including the Agreed Value) in respect of a Total Loss and name Lessor, the Lease Manager, the Security
Trustee and the Lenders as additional assureds for their respective rights and interests; 

  

	 	(ii)	 provide that any loss (other than a Total Loss, the proceeds of which in an amount up to and including the Agreed Value will be payable to the Security
Trustee) will be settled with Lessee, subject to final prior approval of the Security Trustee and Lessor and will be payable in Dollars to the Security Trustee in an amount up to the Agreed Value for the account of all interests except where the
loss does not 

  
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 71 

	 	
exceed *****, and neither Lessor nor the Security Trustee has notified the insurers to the contrary, in which case the loss will be settled with and paid to Lessee; 

 

	 	(iii)	if separate Hull “all risks” and “war risks” insurances are arranged, include a 50/50 provision in accordance with market practice;

  

	(f)	all required liability insurances (as specified in (d) above) will: 

  

	 	(i)	include each of the Indemnitees as additional assureds for their respective rights and interests, warranted, each as to itself only, no operational interest;

  

	 	(ii)	include a Severability of Interest Clause which provides that the insurance, except for the limit of liability, will operate to give each assured the same protection as
if there was a separate policy issued to each assured; 

  

	 	(iii)	contain a provision confirming that the policy is primary without right of contribution from any other insurance which may be available to the additional assureds;

  

	(g)	all Insurances will: 

  

	 	(i)	provide cover denominated in Dollars and, in relation to liability insurance, in the currency of the claim; 

 

	 	(ii)	operate on a worldwide basis subject to such limitations and exclusions as Lessor may agree; 

 

	 	(iii)	acknowledge the insurer is aware that the Aircraft is owned by Lessor and is subject to the Mortgage and that the Insurances are subject to the Assignment and the
Assignment of Insurances; 

  

	 	(iv)	provide that the cover provided to each additional assured shall not be invalidated by any act or omission (including misrepresentation and non-disclosure) of any
person which results in a breach of any term, condition or warranty of the policy PROVIDED that the additional assured so protected has not caused, contributed to or knowingly condoned the said act or omission; 

 

	 	(v)	provide that the insurers will waive any rights of subrogation against the additional assureds; 

 

	 	(vi)	provide that the additional assureds will have no obligation or responsibility for the payment of any premiums due and that the insurers will not exercise any right of
set-off or counter-claim in respect of any premium due against the respective interests of the additional assureds other than outstanding premiums relating to the Aircraft, any Engine or Part the subject of the relevant claim;

  

	 	(vii)	except in respect of any provision for Cancellation or Automatic Termination specified in the policy or any endorsement thereof, the Insurances may only be cancelled or
materially altered in a manner adverse to the additional assureds by the giving of not less than thirty (30) days’ (7 days’ or such other period as is customary in respect of War and Allied Perils) notice in writing. Notice shall be
deemed to commence from the date such notice is given by the insurers to Lessee’s designated brokers. It is accepted that such notice will NOT, however, be given at normal expiry date of the Insurances or any endorsement;

  

	 	(viii)	 if Reinsurance is a requirement of this Agreement such Reinsurance will (i) be on the same terms as the original Insurances and will include the
provisions of this 

  
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Appendix (ii) provide that notwithstanding any bankruptcy, insolvency, liquidation, dissolution or similar proceedings of or affecting the reinsured that the reinsurers’ liability will
be to make such payments as would have fallen due under the relevant policy of Reinsurance if the reinsured had (immediately before such bankruptcy, insolvency, liquidation, dissolution or similar proceedings) discharged its obligations in full
under the original Insurance policies in respect of which the then relevant policy of Reinsurance has been effected; and (iii) contain a “cut-through” Clause in the following form (or otherwise, satisfactory to Lessor): “The
Reinsurers and the Reinsured hereby mutually agree that in the event of any claim arising under the Reinsurances in respect of a total loss or other claim where as provided by the Aircraft Lease Agreement dated 2011 and made between [Lessor] and
[Lessee] such claim is to be paid to the person named as designated loss payee under the primary Insurances, the Reinsurers will in lieu of payment to the Reinsured, its successors in interest and assigns pay to the person named as sole loss payee
under the primary Insurances effected by the Reinsured that portion of any loss due for which the Reinsurers would otherwise be liable to pay the Reinsured (subject to proof of loss), it being understood and agreed that any such payment by the
Reinsurers will (to the extent of such payment) fully discharge and release the Reinsurers from any and all further liability in connection therewith”; subject to such provisions not contravening any law of the State of Incorporation; and

  

	 	(ix)	include and insure the indemnity provisions of Clause 11 of this Agreement to the extent of the risks covered by the policies; 

 

	(h)	Lessee may maintain Insurances in respect of the Aircraft and any Engines for the purposes of this Agreement which incorporate the terms and conditions of Lloyd’s
Airline Finance Endorsement AVN67B (“AVN67B”) (or AVN67C) provided that Lessee will ensure that for the purposes of AVN67B (or AVN67C, as the case may be): 

 

	 	(i)	this Agreement, the Mortgage, the Assignment and the Assignment of Insurances are identified as “Contracts”; and 

 

	 	(ii)	the Indemnitees are named as the “Contract Parties”; 

  

	(i)	for so long as Insurance or Reinsurance is placed in the London market (it being agreed that, without prejudice to the obligations of Lessee pursuant to Part 1 of this
Appendix 7, Lessee is not obliged to place any Insurance or Reinsurance in the London market), in the event of any conflict or inconsistency between this Appendix and AVN67B (or its equivalent) (and subject always to compliance by Lessee with
(h) above), the relevant provisions of AVN67B (or its equivalent) shall be acceptable to Lessor for so long as, insurance Clause AVN67B (or its equivalent) represents, at the relevant time in the international insurance markets, best aviation
insurance practice; and 

  

	(j)	all insurances will contain a provision entitling Lessor or any additional assured to initiate a claim under any policy in the event of the refusal or failure of Lessee
to do so. 

  
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 APPENDIX 7 
 PART 3 
 TOTAL LOSS 

 

	1	For the purpose of this Agreement, “Total Loss” means with respect to the Aircraft (including for the purposes of this definition the Airframe):

  

	(a)	the actual or constructive total loss of the Aircraft (including any damage to the Aircraft which results in an insurance settlement on the basis of a total loss, or
requisition for use or hire which results in an insurance settlement on the basis of a total loss); or 

  

	(b)	it being destroyed, damaged beyond repair or permanently rendered unfit for normal use for any reason whatsoever; or 

 

	(c)	the requisition of title, or other compulsory acquisition, capture, seizure, deprivation, confiscation or detention for any reason of the Aircraft by the government of
the State of Registration, Habitual Base or other competent authority (whether de jure or de facto), but excluding requisition for use or hire not involving requisition of title; or 

 

	(d)	the hi-jacking, theft, condemnation, confiscation, seizure or requisition for use or hire of the Aircraft which deprives any person permitted by this Agreement to have
possession and/or use of the Aircraft of its possession and/or use for more than sixty (60) days. 

 2 

 

	(a)	If a Total Loss occurs prior to delivery of the Aircraft to Lessee, this Agreement will immediately terminate and except as expressly stated in this Agreement neither
party will have any further obligation or liability under this Agreement except that Lessor will return to Lessee any amounts of Rent or Deposit received by Lessor under this Agreement; and 

 

	(b)	If a Total Loss occurs after delivery of the Aircraft to Lessee, Lessee will pay the Agreed Value to Lessor on or prior to the earlier of: 

 

	 	(i)	the day falling sixty (60) days after the Total Loss; and 

  

	 	(ii)	the date of receipt of insurance proceeds in respect of that Total Loss. 

 Until the Agreed Value and all other amounts which are then due and owing by Lessee to Lessor pursuant to the Transaction Documents and any Other Agreement are received by Lessor, Lessee shall continue to
comply with its obligations hereunder to pay Rent. Once the Agreed Value and all other amounts which are then due and payable under this Agreement and the Transaction Documents and which are then due and payable under any Other Agreement have been
paid in full to Lessor, Lessee’s obligation hereunder for the payment of Rent shall cease as and from the date on which Lessor receives the Agreed Value and Lessor will pay to Lessee all Maintenance Reserves and any Deposit (plus interest
accrued thereon in accordance with this Agreement) then held by Lessor and return any Letter of Credit. 
  

	3	During any requisition for use or hire of the Aircraft, any Engine or Part which does not constitute a Total Loss: 

 

	(a)	the Rent and other charges payable under this Agreement will not be suspended or abated either in whole or in part, and Lessee will not be released from any of its
other obligations under this Agreement other than operational obligations with which Lessee is unable to comply solely by virtue of the requisition; and 

  
 74 

	(b)	so long as no Default has occurred and is continuing, Lessee will be entitled to any hire amounts paid by the requisitioning authority in respect of the Term. Lessee
will, as soon as practicable after the end of any such requisition, cause the Aircraft to be put into the condition required by this Agreement. Lessor will be entitled to all compensation payable by the requisitioning authority in respect of any
change in the structure, state or condition of the Aircraft arising during the period of requisition, and Lessor will apply such compensation in reimbursing Lessee for the cost of complying with its obligations under this Agreement in respect of any
such change, but so that, if any Default has occurred and is continuing, Lessor may apply the compensation or hire in or towards settlement of any amounts owing by Lessee under this Agreement. 

  
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 APPENDIX 7A 
 PART 1 
 PRE-DELIVERY PROCEDURE 

 

	1	Upon reasonable notice prior to the Scheduled Delivery Date, Lessor will make the Aircraft available to Lessee for inspection and during such inspection the
Lessee shall be permitted to: 

  

	(a)	inspect the Aircraft and its conformity with the Delivery Conditions specified herein; 

 

	(b)	to perform a maximum power assurance run on the Engines and an acceptance flight of the Aircraft of a maximum duration of two hours (the “Delivery Check
Flight”) taking off from and landing at the Delivery Location to demonstrate satisfactory operation of the Aircraft and its conformity with the Delivery Conditions set out herein; and 

 

	(c)	inspect the Engines by performing a complete hot and cold video borescope inspection (conducted after the Delivery Check Flight) of each Engine at Lessee’s cost.

  

	2	If Lessee notifies Lessor promptly of any non-conformity of the Aircraft with the Delivery Condition observed during the inspection or Delivery Check Flight (and
such non-conformity is recorded in the flight log in the case of a demonstration flight), Lessor will, at its cost, correct or procure the correction of such non-conformity as soon as reasonably practicable and make the Aircraft available for
re-inspection by Lessee. 

  

	3	The Delivery Check Flight shall be performed in accordance with the Manufacturer’s procedures in respect of demonstration flights for used aircraft (or such
other procedures acceptable to Lessor and Lessee). 

  

	4	The cost of the Delivery inspection (other than costs relating to (i) obtaining insurance for the Delivery Check Flight and (ii) Lessor’s
employees or representatives) shall be borne by Lessee. 

  

	5	Lessee is responsible for and shall indemnify and hold harmless the Indemnitees from and against all Losses arising from death or injury to any observer
representative or any employee of Lessee in connection with any demonstration flight or inspection of the Aircraft by Lessee save for any Losses arising out of or in connection with the gross negligence or wilful misconduct of any Indemnitee.

  
 76 

 APPENDIX 7A 
 PART 2 
 DELIVERY CONDITION 

 

	1	GENERAL CONDITION 

 Lessee
shall ascertain that the Aircraft meets the conditions set out in the following provisions of this Part 2 of Appendix 7A. 
 The
Aircraft shall: 
  

	(a)	be in airworthy and in good operating condition, conforming to EASA type design certification; and be clean by scheduled passenger airline standards;

  

	(b)	not have been operated in commercial passenger service since completion of the last C Check in accordance with the latest Maintenance Planning Document accomplished
prior to Delivery falling due for accomplishment within 20 months, 6,000 Flight Hours and 4,500 Cycles (whichever is the most limiting factor); 

  

	(c)	be free of damages, tears, stains and inappropriate markings and shall comply with relevant EASA fire resistance regulations; 

 

	(d)	have installed the full complement of systems, equipment, parts, accessories, furnishings and loose equipment functioning in accordance with the Airbus Aircraft
Inspection Report, the Aircraft Type Certificate and their intended use and in compliance with, and eligible for immediate operation under EU OPS 1 equipment standards; 

 

	(e)	have a currently valid airworthiness review certificate and certificate of airworthiness for export and a deregistration certificate; 

 

	(f)	meet all requirements for, and be eligible for immediate operations in full compliance with FAA Part 129 regulations; 

 

	(g)	have no leakage of fuel, oil, hydraulic fluid, or water which exceed the limits laid down in the Manufacturer’s applicable maintenance manual;

  

	(h)	comply with all EASA Airworthiness Directives which require compliance prior to Delivery; 

 

	(i)	be in its existing external livery; 

  

	(j)	have all signs and decals clean, secure and legible in English; 

  

	(k)	have no open, deferred, continued, carry over or placard log book items and have no temporary or time-limited structural repairs. No special or unique inspection or
check requirements which are specific to the Aircraft (as opposed to all aircraft of the same model) will exist with respect to the Aircraft; 

  

	(l)	have all non-structural repairs, modifications and alterations accomplished in accordance with Airframe Manufacturer’s service bulletins or Airframe
Manufacturer’s written approval (with a statement of conformity to type certificate data); and 

  

	(m)	have no less than the Aircraft flight manual approved design weights. 

  
 77 

	2	COMPONENTS 

  

	(a)	Each Flight Hour and Cycle controlled Hard Time Component (other than the Landing Gear and APU) shall have not less than 6,000 Flight Hours and 4,500 Cycles (or 100% of
Hard-Time life if this interval is less) of life remaining to the next scheduled removal, in accordance with the Agreed Maintenance Programme and the Maintenance Planning Document (including the “Airworthiness Limitations”). Each calendar
controlled Hard Time Component including safety equipment will have not less than 20 months or 100% life remaining (whichever is less) to the next scheduled removal in accordance with the Agreed Maintenance Programme and the Maintenance Planning
Document. Hard Time Components shall be supported by appropriate certification documentation indicating TSN, CSN, TSO and CSO such as EASA form 1 or FAA form 8130-3. For this purpose “Hard Time Component” means any component which
has a limited on-wing life in accordance with the Agreed Maintenance Programme and the Maintenance Planning Document and which can have life fully restored through appropriate maintenance. 

 

	(b)	Each Airframe Life-Limited Component will have not less than 6,000 Flight Hours and 4,500 Cycles and 20 months remaining to next scheduled removal in accordance with
the Agreed Maintenance Programme and the Maintenance Planning Document and Aircraft EASA type certificates and will be supported by certification documentation necessary to demonstrate traceability back to birth. For this purpose
“Airframe-Life Limited Component” means a component with an ultimate life which cannot be restored through appropriate maintenance. 

  

	(c)	Each “on-condition” and “condition-monitored” component will be serviceable and shall be supported by appropriate certification
documentation such as EASA form 1 or FAA form 8130-3 at the point of last installation on the Aircraft if replaced since Aircraft new delivery. The “condition-monitored” components shall be supported by an appropriate reliability
programme and data in accordance with the Agreed Maintenance Programme. 

  

	(d)	The installed components will have total Flight Hours and Cycles since new no more than 110% of the Aircraft total Flight Hours and Cycles since new.

  

	(e)	There shall be no PMA Parts on the Aircraft, save for consumable parts or parts used as consmetic items in the passenger cabin. For these purposes “consumable
parts” means any non-serialised item of aircraft material which is used only once and is not re-usable, such as (but not limited to) filters, seals, lubricants, cements, compounds, paints, chemicals, dyes and sealants.

  

	3	ENGINES 

 Each Engine
installed on the Aircraft (and each Engine LLP installed on an Engine) shall comply with the following: 
  

	(a)	have no less than 4,500 Cycles scheduled life remaining in respect of Engine Life Limited Parts and no more than 110% of the Aircraft total Flight Hours and Cycles
since new. Engine LLPs will be supported by certification documentation necessary to demonstrate traceability back to birth; 

  

	(b)	shall have accumulated no more than 7,000 Flight Hours and 7,000 Cycles since new; 

 

	(c)	shall be serviceable and capable of full rated performance without limitations throughout the entire operating envelop of the Aircraft as defined in the EASA AFM. Each
Engine shall have at least 25C sea level hot day exhaust gas temperature (“EGT”) margin; and 

  
 78 

	(d)	no Engine shall be on watch for any reason requiring any special or out of sequence inspection or reduced interval inspections or exhibit any adverse trends or indicate
a rate of performance deterioration that is higher than normal. 

  

	4	FUSELAGE, WINDOWS AND DOORS 

  

	(a)	The fuselage and doors will be free of major dents and abrasions exceeding the limits in the Manufacturer’s structural repair manual. 

 

	(b)	Windows will be free of major delamination and blemishes in excess of Maintenance Manual limits allowing continued in service operation without special inspection or
other action and will be properly sealed. 

  

	(c)	Doors will be free moving, correctly rigged and be fitted with serviceable seals. 

 

	(d)	All external repairs for the pressurised fuselage shall have been reviewed in accordance with the latest revision of the Manufacturer’s repair assessment programme
(if issued, and otherwise in accordance with the Manufacturer’s published guidelines) applicable at the time of repair and supported by certified documentation evidencing accomplishment in accordance with EASA or FAA approved data (that is, the
Manufacturer’s structural repair manual or the Manufacturer’s service bulletin or the Manufacturer’s written approval or FAA/EASA STC (Supplemental Type Certificate) or FAA Form 8110- 3/8100-9 approval or otherwise approved by the
EASA or FAA. 

  

	5	WINGS AND EMPENNAGE 

  

	(a)	The wings including nacelles and empennage will be free of major dents and abrasions, loose or pulled or missing rivets in excess of maintenance manual limits.

  

	(b)	The wings will be free of fuel leaks in accordance with the maintenance manual allowing continued in service operation without special inspection or other action.

  

	6	INTERIOR AND COCKPIT 

  

	(a)	The Aircraft shall be in 180Y configuration. 

  

	(b)	The Aircraft interior including cockpit, windows, main cabin and cargo compartments shall have been maintained in accordance with the Agreed Maintenance Programme will
be clean by normal industry standards, with all components free of excessive levels of foreign objects, dirt, grease, fluids, stains, grime, cracks, tears and rips and ready to be placed into immediate commercial airline operation;

  

	(c)	No less than 50 per cent (50%) of aisle seats shall have moveable armrests. 

 

	(d)	Interior panels (including overhead bins, sidewall and ceiling panels, bulkheads and cargo compartment panels), and related seals (including window seals) shall be
clean and substantially free of holes, cracks, temporary repairs and dents. 

  

	(e)	The Aircraft shall have reinforced a cockpit door. 

  

	(f)	All signs and decals shall be clean secure and legible in English. 

  

	(g)	Safety belts and harnesses shall be free of stains, discolouration, and fraying other than minor stains and discolouration. 

 

	(h)	Seats, lavatories and galleys shall be to an international airline standard and shall be fully serviceable, in good condition and repainted as necessary.

  
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	(i)	All panels and nets in the cargo compartment shall be in good condition; all rollers and cargo restraint / nets and moving mechanisms shall be serviceable; and all
compartments shall meet the then current the EASA and FAA fire regulations; all doors shall be rigged and functioning properly. 

  

	(j)	All interior placards shall be in the English language. 

  

	7	LANDING GEAR; WHEELS AND BRAKES 

  

	(a)	The Landing Gear and wheel wells will be clean, free of leaks and repaired as necessary and the Landing Gear shall have been stripped and repainted during any Landing
Gear Overhaul (if applicable). 

  

	(b)	Each installed Landing Gear shall have no less than 4,500 Cycles and 24 months (whichever is the most limiting factor) life remaining to the next scheduled removal in
accordance with Agreed Maintenance Programme and the Maintenance Planning Document. Life Limited Part within each installed Landing Gear shall have not more than 110% of the Airframe total Cycles since new and certificates and will be supported by
certification documentation necessary to demonstrate traceability back to birth. 

  

	(c)	The Landing Gear modification standard will meet the manufacturer requirements for an Aircraft maximum take-off weight as at Delivery. 

 

	8	AUXILIARY POWER UNIT 

  

	(a)	The APU will be serviceable in accordance with the requirements of the Maintenance Manual as evidenced by the Manufacturer’s maintenance manual tests and
inspections. 

  

	(b)	APU Life Limited Parts will be supported by certification documentation necessary to demonstrate traceability back to birth. 

 

	(c)	The APU will have not accumulated more than 7000 APU Hours of operation since new or last APU Performance Restoration. 

 

	9	AIRCRAFT SPECIFICATION 

The Aircraft will have the following specifications: 
  

	(a)	have the following operational weights: 77t MTOW, 66t MLW, 62.5t MZFW; 

  

	(b)	be capable of CATII/CATIII operations; 

  

	(c)	have noise level Stage 3; 

  

	(d)	have fuel and weight quantity indicators in kg; 

  

	(e)	be capable of RVSM operations; 

  

	(f)	incorporate SELCAL decoder; 

  

	(g)	have VHF 8.33kHz spacing; 

  

	(h)	incorporate ACARS/ATSU system; 

  

	(i)	incorporate EGPWS/TAWS system; 

  

	(j)	be capable of operating to and from airports up to 9200ft; 

  
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	(k)	be capable of operating to and from airports with OAT equal to ISA +40°C; 

 

	(l)	incorporate GPS navigation system capable for RNP operations; 

  

	(m)	incorporate an approved cockpit voice recorder that meets the standards of TSO-C123a or later revision; 

 

	(n)	incorporate a fixed 406MHz ELT and a portable 406MHz ELT; and 

  

	(o)	incorporate brake cooling fans. 

  

	10	AIRCRAFT DOCUMENTS 

 The
Aircraft shall be delivered with the Aircraft Documents listed in Part 3 of Appendix 7A (other than those documents listed in the Certificate of Acceptance as not delivered). 

  
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 APPENDIX 7A 
 PART 3 
 AIRCRAFT DOCUMENTS AT DELIVERY 

 

	1	Certificates 

  

	(a)	Certificate of Airworthiness; 

  

	(b)	Certificate of Registration; 

  

	(c)	Aircraft De-Registration Confirmation; 

  

	(d)	Export Certificate of Airworthiness issued by the last country of registry; 

 

	(e)	Noise Limitation Certificate (AFM page); 

  

	(f)	Burn Certificates (Cabin Interiors), unless maintained as per Manufacturer type certificated configuration, as follows: 

 

	 	(i)	Certification of compliance with fire blocking requirements as outlined in the applicable regulation; 

 

	 	(ii)	Bottom Seat cushions (including “in combination” burn certification), Passenger and Cabin attendant; 

 

	 	(iii)	Back rest cushions (including “in combination” burn certification), Passenger and Cabin attendant; 

 

	 	(iv)	Dress covers (including “in combination” burn certification), Passenger and Cabin attendant; 

 

	 	(v)	Carpets; 

  

	 	(vi)	Curtains; and 

  

	 	(vii)	Interior Surfaces (if refurbished). 

  

	2	Manuals 

  

	(c)	EASA/FAA Approval Airplane Flight Manual; 

  

	(d)	Weight and Balance Control and Supplements (in U.S. units), including last weigh paperwork; 

 

	(e)	Operations Manual (Manufacturer’s generic); 

  

	(f)	Quick Reference Handbook (Manufacturer’s generic); 

  

	(g)	Structural Repair Manual; 

  

	(h)	Aircraft Maintenance Manual; 

  

	(i)	Component Maintenance Manuals, (CMM, IPC, SRM) for the following cabin BFE, if such BFE is not factory installed and included in the Aircraft Manuals:

  
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	 	(i)	Galleys; 

  

	 	(ii)	Coffee Makers, Ovens, Hot Jugs and other galley equipment; 

  

	 	(iii)	Lavatories; 

  

	 	(iv)	Toilet Assemblies; 

  

	 	(v)	Closets; 

  

	 	(vi)	Class Dividers (if applicable); and 

  

	 	(vii)	Passenger Seats; 

  

	(j)	Aircraft Illustrated Parts Catalog (I.P.C.); 

  

	(k)	Aircraft Wiring List; 

  

	(l)	Aircraft Schematics Manual; 

  

	(m)	Engine CMM, IPC; 

  

	(n)	APU CMM, IPC; 

  

	(o)	Latest operator’s Maintenance Program; 

  

	(p)	Latest operator’s Minimum Equipment List; 

  

	(q)	Configuration Deviation List; and 

  

	(r)	Any other Manual originally delivered by Airbus to the Lessee, Technical documentation, Manuals). 

 

	3	Airworthiness Directives Documentation 

  

	(a)	The Aircraft shall have all records associated with AD compliance: 

  

	 	(i)	A complete and current applicable AD status list of each Airframe, appliance, Engine and APU Airworthiness Directive applicable to the Aircraft. This list shall
include, but not be limited to: 

  

	 	(1)	AD number and revision number; 

  

	 	(2)	AD title; 

  

	 	(3)	Aircraft serial number, Engine serial number, APU serial number, appliance serial number, as applicable; 

 

	 	(4)	Engineering documentation reference; 

  

	 	(5)	Manufacturer’s Service Bulletin reference and cross-references where appropriate; 

 

	 	(6)	Specify terminated or repetitive status; 

  

	 	(7)	Date of initial accomplishment; 

  

	 	(8)	Date of last maintenance accomplishment, if repetitive; 

  

	 	(9)	Name and serial number of the internal maintenance form used to document accomplishment, if applicable; 

  
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	 	(10)	The means by which compliance was accomplished (e.g., modified, repaired, inspected); and 

 

	 	(11)	Details of any alternate means of compliance, including references, intervals, and applicability. 

 

	(b)	The list shall be typed, certified and signed by an authorized quality assurance representative of last operator at Delivery or of Lessee at redelivery of the Aircraft,
and countersigned by Lessor at Delivery or by Lessee at redelivery of the Aircraft. The list shall also be delivered in workable electronic format. 

  

	(c)	Legible copies of the dirty fingerprint work card completion documents that accomplish each AD. If the AD is a repetitive inspection, documentation of the last
accomplishment is sufficient. These documents must have date of accomplishment, signature of a certified mechanic and/or inspector, and/or the mechanics/inspector’s certificate number or repair station number of the mechanic accomplishing the
work. 

  

	(d)	Exemptions or deviations granted by the FAA or EASA (or other applicable civil aviation authority with jurisdiction over the Aircraft) on AD compliance, including copy
of exemption request. 

  

	(e)	Items (c) and (d) will be provided in document packages for each AD. Each package will contain all documents relative to the AD/Aircraft combination, and
include copies of the AD. 

  

	4	Engineering Documentation 

  

	(a)	A current list (in paper and workable electronic format) of Airframe, appliance, Engine and APU Service Bulletins, Engineering Orders, major repairs and Supplemental
Type Certificates accomplished on the Aircraft, each Engine and the APU. For appliances, only AD related Service Bulletins and Engineering Orders are required. 

 

	(b)	Legible copies of the detailed dirty fingerprint work card accomplishment documentation for each Airframe, appliance, Engine and APU Service Bulletin, Engineering
Order, major repair and Supplemental Type Certificate accomplished on the Aircraft, each Engine and the APU, to include the following: 

  

	 	(i)	SB number and revision number; 

  

	 	(ii)	SB title; 

  

	 	(iii)	Aircraft serial number, Engine serial number, APU serial number, appliance serial number as applicable; 

 

	 	(iv)	Engineering documentation reference; 

  

	 	(v)	Manufacturer’s Service Bulletin reference and cross-references where appropriate; 

 

	 	(vi)	Specify terminated or repetitive status; 

  

	 	(vii)	Date of initial accomplishment of each portion of such engineering document; 

 

	 	(viii)	Date of last maintenance accomplishment, if repetitive; 

  

	 	(ix)	Name and serial number of the internal maintenance form used to document accomplishment, if applicable; and 

  
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	 	(x)	Statement of the means by which compliance was accomplished (e.g., modified, repaired, inspected). 

 

	(c)	EASA or FAA approvals (DER Form 8110-3 or Form 8100-9) for modifications or alterations not covered by manufacturer’s Service Bulletins (including appliances).

  

	(d)	A current copy of all Engineering documentation related to all Aircraft alterations, repairs and configuration changes. This shall include documentation for work done
by the previous owner(s) and operators(s), the manufacturer or any seller. 

  

	(e)	Data packages covering all non-manufacturer/non-FAA/non-EASA designed repairs or alterations, including the submittal to the FAA or EASA for an STC or Form 337, if
applicable. The data packages shall include the following: 

  

	 	(i)	engineering orders; 

  

	 	(ii)	drawings; 

  

	 	(iii)	parts lists; 

  

	 	(iv)	installation documentation; 

  

	 	(v)	engineering analysis as submitted to obtain the STC or Form 337 approval; 

  

	 	(vi)	all manual supplements (MM, IPC, WD, AFM); 

  

	 	(vii)	maintenance program supplements; and 

  

	 	(viii)	any and all reference documents referenced by documents contained in this section (4). 

 

	(f)	Engineering deviations records, if any, applicable to the airframe, Engines and APU, components and piece parts. 

 

	(g)	Digital Flight Data Recorder System technical description. 

  

	5	Aircraft Maintenance Status Summaries 

  

	(a)	Certified current Time in Service (Flight Hours & Cycles); 

  

	(b)	Certified maintenance status of the Aircraft, including Aircraft serial number, hours, cycles and days since major checks and applicable time remaining to major checks;

  

	(c)	Certified status of system, zonal and structural tasks, including SSI (including last accomplished and next due) and other scheduled tasks as per MPD number (in paper
and workable electronic format); 

  

	(d)	Certified current status for all life limited parts and hard time components for the Airframe, Landing Gears, Engines and APU, including back-to-birth history for all
Landing Gear and Engine life limited parts and, to the extent any Engine life limited parts (“Engine LLPs”) have been used in higher rated engines, a summary of the Engine Flight Hours and Engine Cycles consumed on each such Engine LLP by
use on such higher rated engines(s); 

  

	(e)	Certified listing of Aircraft, Landing Gear, Engine and APU components status to the extent required by the Air Authority or EASA by P/N – S/N – Description
Position –TSO - TSN, CSO – CSN, Total time, Total Cycles, next Due Time, including explanations of abbreviations; 

  
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	(f)	Certified status of all non-SB and Major Modifications/STC’s including acceptable State of Manufacture Certification and/or equivalent EASA or FAA approval;

  

	(g)	List of out of Phase Checks, Service Bulletins requiring continuous surveillance and Special Requirements (if any); 

 

	(h)	Declaration of Aircraft Accident/Incident Report and major repairs, if any; and 

 

	(i)	Structural repairs and damage report (including Dent & Damage Chart) for pressure vessel, and unpressurized areas. 

 

	6	Aircraft Maintenance Records 

  

	(a)	Aircraft maintenance log from the past 24 months; 

  

	(b)	Cabin maintenance log from the past 24 months; 

  

	(c)	A Checks - Complete work card packages, tally sheets, material data sheets and maintenance releases for a complete cycle of A Checks (or equivalent);

  

	(d)	C Checks - Complete work card packages, tally sheets, material data sheets and maintenance releases for a complete cycle of C Checks (or equivalent);

  

	(e)	Complete work card packages, tally sheets, material data sheets and maintenance releases for all major checks (or equivalent); 

 

	(f)	Last Weight & Balance Report including Schedule; 

  

	(g)	Last FDR parameter check; 

  

	(h)	Last Test Flight Report; and 

  

	(i)	Certified Cross reference list for each MPD task number vs. last operator’s Task Card number including date/time/cycles of last accomplished and next due.

  

	7	Configuration Status 

  

	(a)	EASA Approved and certified LOPA; 

  

	(b)	Galley Drawings; 

  

	(c)	Emergency, Safety and Loose Equipment Layout/Listing showing description, quantity, manufacturer, part number and location; 

 

	(d)	Inventory Listing of Avionics installed units; 

  

	(e)	Aircraft Major Equipment listing or current equipment list if not included in Weight and Balance Manual; 

 

	(f)	List of applicable STC’s; 

  

	(g)	Aircraft Detail Specification; and 

  

	(h)	Passenger/ Cargo Buyer Furnished Equipment List (including, but not limited to seats, galley, lavatories, entertainment, cargo handling, emergency equipment.).

  
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	8	Aircraft Historical Records 

  

	(a)	Copy of original Export Certificate of Airworthiness; 

  

	(b)	Manufacturer’s AD Report; 

  

	(c)	Manufacturer’s Inspection Report, Initial Equipment list; 

  

	(d)	Manufacturer’s repair/alteration report (at new delivery), or statement that no such report was produced; 

 

	(e)	Manufacturer’s SB Report; 

  

	(f)	Copies of all Supplemental Type Certificates; 

  

	(g)	Last Flight Data Recorder Read-out and calibration standards; 

  

	(h)	Weighing reports; and 

  

	(i)	Historical report showing cumulative times for last major inspection accomplishments, Engine changes, landing gear and APU changes, etc. 

 

	9	Engine Records 

  

	(a)	Engine log book or Engine Data Submittal; 

  

	(b)	Current Disk Sheet (LLP Sheet) signed and certified; 

  

	(c)	Manufacturer Delivery Documents; 

  

	(d)	Complete copies of all historical engine/ module shop visit reports and engine last shop visit report; 

 

	(e)	Copies of all dirty finger print shop work cards and material data sheets covering the last overhaul of each module; 

 

	(f)	On Wing Repair records; 

  

	(g)	Engine Log Book/ Master Records of Installation/Removals; 

  

	(h)	Last Borescope Report, including video if available; 

  

	(i)	Test Cell Run Report for any shop visit; 

  

	(j)	If the Engines have not been involved in an incident, certified Statement that Engines are not involved in an accident; 

 

	(k)	Certified “On-Watch” statement; 

  

	(l)	List of “On-Watch Items” items requiring repetitive inspections; 

 

	(m)	List of repetitive inspections that are not required by AD; 

  

	(n)	List of technical variances or maintenance requirements unique to the particular Engine; 

 

	(o)	Certified Accessory LRU List with Approved Release to Service Certification (FAA 8130-3 or JAA/EASA Form 1) for installed LRU’s; 

 

	(p)	Last engine run and power assurance report; 

  
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	(q)	All Life Limited Parts (“LLPs”) will have complete life traceability of time consumed (cycles and/or hours as applicable) since new. Such traceability shall
include historical removal and installation documentation of each LLP in respect of each Engine or module where such LLP had been installed and where time has been consumed. Each removal and installation document will evidence LLP total hours and
LLP total cycles accumulated in each Engine or module; 

  

	(r)	Each LLP will have a signed and certified cover page including engine or module total hours, total cycles, part total hours, total cycles and date for each removal and
installation depicting the life of the part since new. Notwithstanding, any LLPs replaced during the term of the lease will have the most recent FAA 8130-3 tag or JAA/EASA Form 1, as applicable, used to install such LLP into the applicable Engine or
module; 

  

	(s)	Engine Manufacturer’s or FAA approved data shall be provided for any discrepancies outside of the Engine Manufacturer’s Engine Manual shop limits that
documents approval for unlimited continued service, without time limitations for removal, repair or replacement, or have any special or distinct inspection requirements. The data shall include: 

 

	 	(i)	Approval form; 

  

	 	(ii)	Complete description of the discrepancy; and 

  

	 	(iii)	Supporting analysis and documentation; and 

  

	(t)	Engine Manufacturer’s, EASA or FAA approved data shall be provided for any repairs not in accordance with the Engine Manufacturer’s Engine Manual that
documents approval for unlimited continued service, without time limitations for removal, repair or replacement, or have any special or distinct inspection requirements. The data shall include: 

 

	 	(i)	Approval form; 

  

	 	(ii)	Complete description of repair; and 

  

	 	(iii)	Supporting analysis and documentation. 

  

	10	APU 

  

	(a)	Certified Statement on Status of APU; 

  

	(b)	In house modifications (if applicable); 

  

	(c)	Approved Release to Service Certification for installed units; 

  

	(d)	APU Log Book/ Master Record of Installation/ Removals; 

  

	(e)	Complete copies of all APU Shop Visit Reports & reason for removal; 

 

	(f)	Copies of all dirty finger print shop work cards and material data sheets covering the last overhaul of the APU; 

 

	(g)	Statement of APU hours to Aircraft Flying hours (if applicable); 

  

	(h)	Last APU Borescope Report; 

  

	(i)	Last Test Run Report for any shop visit; 

  
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	(j)	All Life Limited Parts will have complete life traceability of time consumed (cycles and/or hours as applicable) since new. Such traceability shall include historical
removal and installation documentation of each LLP in respect of each APU where such LLP had been installed and where time has been consumed. Each removal and installation document will evidence LLP total hours and LLP total Cycles accumulated in
each Engine or module; 

  

	(k)	Each LLP will have a signed and certified cover page including engine or module total hours, total Cycles, part total hours, total Cycles and date for each removal and
installation depicting the life of the part since new. Notwithstanding, any LLPs replaced during the term of the lease will have the most recent FAA 8130-3 tag or JAA/EASA Form 1, as applicable, used to install such LLP into the applicable APU;

  

	(l)	APU manufacturer’s, EASA or FAA approved data shall be provided for any discrepancies outside of the APU Manufacturer’s Engine Manual shop limits that
documents approval for unlimited continued service, without time limitations for removal, repair or replacement, or have any special or distinct inspection requirements. The data shall include: 

 

	 	(i)	Approval form; 

  

	 	(ii)	Complete description of the discrepancy; and 

  

	 	(iii)	Supporting analysis and documentation; and 

  

	(m)	APU manufacturer’s or FAA approved data shall be provided for any repairs not in accordance with the APU Manufacturer’s Engine Manual that documents approval
for unlimited continued service, without time limitations for removal, repair or replacement, or have any special or distinct inspection requirements. The data shall include: 

 

	 	(i)	Approval form; 

  

	 	(ii)	Complete description of repair; and 

  

	 	(iii)	Supporting analysis and documentation. 

  

	11	Components 

  

	(a)	Approved Release to Service Certification including either FAA 8130-3 or JAA/EASA Form 1 and last repair/overhaul records for hard time components (whether tracked on
an individual component basis or controlled as part of scheduled airframe check); and 

  

	(b)	Approved Release to Service Certification including either FAA 8130-3 or JAA/EASA Form 1 and last repair/ overhaul records for on condition and condition monitored
components. 

  

	12	Landing Gear 

  

	(a)	Approved Release to Service Certification for each fully built gear assembly, or major assemblies on each gear, as applicable, including either FAA 8130-3 or JAA/EASA
Form 1; 

  

	(b)	Last Shop Visit Report; and 

  

	(c)	Statement which indicates if the Aircraft operates with BSCU software L4.1 or L4.5. 

  
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	13	Repairs 

  

	(a)	Manufacturer’s or EASA approved data shall be provided for any discrepancies outside of Manufacturer’s Structural Repair Manual limits or applicable
Maintenance Manual limits that documents approval for unlimited continued service, without time limitations for removal, repair or replacement. There shall be no special or distinct inspection requirements; 

 

	(b)	all repairs will be in accordance with the Manufacturer’s Maintenance Manual and Manufacturer’s Structural Repair Manual, or will have Manufacturer’s or
EASA approved data. Repairs will not have any time limitations for removal, repair, or replacement. There shall be no special or distinct inspection requirements; 

 

	(c)	all repairs to the pressure vessel shall be documented in accordance with the repair assessment guidelines set forth in FAR 121.370 or the EASA equivalent;

  

	(d)	all repairs to un-pressured parts of the Aircraft shall be documented in accordance with the repair assessment guidelines set forth in FAR 121.370 or the EASA
equivalent; and 

  

	(e)	a repair and dent map shall be provided which includes the following: 

  

	 	(i)	Photo (if available) or drawing of the location, type and form of the repair; 

 

	 	(ii)	Details of the repair including dimensions of the damage, location, copies of the SRM if referenced, Form 8110-3 or Form 8100-9 if applicable, material utilized in the
repair, DER paperwork, and any engineering data utilized; and 

  

	 	(iii)	A diagram of sufficient size and detail to illustrate all repairs to the entire Aircraft to include fuselage, empennage, and wings as well as an additional separate map
of all dents on the aircraft. 

  

	14	Software 

  

	(a)	All software and databases associated with or relating to any electronic or avionic equipment, if any, shall be compliant with the manufacturer’s recommended
standards at time of delivery, except for Lessee customized or Lessee proprietary software and databases. Any proprietary software or databases shall be replaced by generic equivalents; 

 

	(b)	a certified listing of onboard loadable software and databases to include the following: 

 

	 	(i)	ATA chapter; 

  

	 	(ii)	nomenclature; 

  

	 	(iii)	part number; 

  

	 	(iv)	revision date; and 

  

	 	(v)	expiration date; 

  

	(c)	controlled diskettes or other seller provided physical media as appropriate for directly loading the software onto the Aircraft shall be provided as part of the
documentation (subject to express licensing or patent restrictions); and 

  

	(d)	procedures for obtaining downloadable software from the internet. 

  
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 APPENDIX 8 
 PART 1 
 RETURN OF THE AIRCRAFT 

 

	1	Return 

 On the Scheduled
Expiry Date or termination of the leasing of the Aircraft under this Agreement Lessee will, unless a Total Loss has occurred, at its expense, redeliver the Aircraft and Aircraft Documents to Lessor at an FAA or EASA approved maintenance facility at
a location in Mexico or European Union agreed between Lessor and Lessee or, in absence of any agreement, as specified by Lessor (the “Redelivery Location”), in a condition complying with Part of 2 of this Appendix 8, (the
“Return Condition”) free and clear of all Security Interests and Permitted Liens (other than Lessor Liens) and thereupon, at Lessor’s request cause the Aircraft to be deregistered by the Air Authority. 

 

	2	Pre-Redelivery Technical Report and Inspection 

 No later than six (6) months prior to the Scheduled Expiry Date, Lessee will provide Lessor with a technical report in a form to be agreed between Lessee and Lessor (each acting reasonably)
summarising the current specification and maintenance status of the Aircraft, the equipment fitted on the Aircraft and status of the Aircraft Documents and allow Lessor to perform an inspection of the Aircraft and the Aircraft Documents. 

 

	3	Aircraft Document Review 

At least ten (10) days prior to the Scheduled Expiry Date Lessee shall make all key Aircraft Documents available to Lessor for
review. 
  

	4	Final Inspection 

Immediately prior to Redelivery, Lessee will make the Aircraft available to Lessor and the Security Trustee for a full-systems functional
and operational inspection and other types of reasonable inspections based on the Aircraft type, age, use and other known factors with respect to the Aircraft (“Final Inspection”) in order to verify that the condition of the
Aircraft complies with this Agreement. The Final Inspection will take place in conjunction with the Major Check to be carried out prior to Redelivery and in no event less than 2 weeks prior to Redelivery in accordance with this Agreement and be long
enough to permit Lessor to: 
  

	(a)	perform a full inspection of the Aircraft Documents; 

  

	(b)	inspect the Aircraft and uninstalled Parts; 

  

	(c)	inspect the Engines (at Lessor’s cost), including without limitation (i) a hot and cold section video boroscope inspection of all areas (ii) engine
condition runs and (iii) trend monitoring data in accordance with the Engine Manufacturer’s maintenance manual; and 

  

	(d)	inspect the APU, including without limitation: 

  

	 	(i)	perform an APU condition run; and 

  

	 	(ii)	hot and cold section video borescope inspection of all areas. 

  
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 Any deviations from the Return Condition will be discussed in good faith between Lessor and
Lessee with a view to resolving each discrepancy prior to the Acceptance Flight (as defined in paragraph 5 below). 
 The cost of
the Final Inspection (including the cost of rectifying any deviations from Return Condition but excluding any costs relating to Lessor’s employees or representatives) shall be borne by Lessee and any defects or deficiencies found during such
inspection shall be rectified at Lessee’s cost. 
  

	5	Acceptance Flight 

Immediately prior to the redelivery of the Aircraft, Lessee will carry out for Lessor a demonstration flight in accordance with the
Manufacturers’ standard flight operation check flight procedures for in service aircraft (the “Acceptance Flight”), or, if agreed to in writing by Lessor, in accordance with an airline acceptance flight procedure, either of
which will be for the duration necessary to perform such acceptance flight procedures. The costs of such acceptance flight, up to a maximum duration of two (2) hours, will be on account of Lessee. 

 

	6	Non-Compliance 

 To the
extent that, at the time of the Acceptance Flight, the condition of the Aircraft does not comply with this Agreement, Lessee will at Lessor’s option: 
  

	(a)	immediately rectify the non-compliance and to the extent the non-compliance extends beyond the Expiry Date, the Term will be automatically extended and this Agreement
will remain in force until the non-compliance has been rectified; or 

  

	(b)	redeliver the Aircraft to Lessor and indemnify Lessor, and provide to Lessor’s satisfaction cash as security for that indemnity, against the cost of putting the
Aircraft into the condition required by this Agreement. 

 In respect of minor discrepancies in the Return
Condition, Lessor and Lessee shall negotiate in good faith with a view to agreeing arrangements whereby Lessee rectifies the discrepancies immediately after redelivery and if such arrangements are agreed between Lessee and Lessor the provisions of
paragraph (b) above shall not apply. 
  

	7	Redelivery 

Simultaneously with redelivery Lessee will provide to Lessor all documents necessary to export the Aircraft from the State of Registration
and Habitual Base (including, without limitation, a valid and subsisting export certificate of airworthiness stating the exceptions (if any) and applicable waivers from the Aircraft type certificate for the Aircraft) and required in relation to the
deregistration of the Aircraft with the Air Authority. 
  

	8	Acknowledgement 

 Provided
Lessee has complied with its obligations under this Agreement, following redelivery of the Aircraft by Lessee to Lessor at the Redelivery Location, Lessor will deliver to Lessee an acknowledgement confirming that Lessee has redelivered the Aircraft
to Lessor in accordance with this Agreement. 
  

	9	Maintenance Programme: 

  

	(a)	Prior to the Expiry Date and upon Lessor’s request, Lessee will provide Lessor or, subject always to Clause 18, its agents reasonable access to the Agreed
Maintenance Programme and the Aircraft Documents in order to facilitate the Aircraft’s integration into any subsequent operator’s fleet. 

  
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	(b)	Lessee will, if requested by Lessor to do so, before the return of the Aircraft deliver to Lessor a certified true current and complete copy of the Agreed Maintenance
Programme. Lessor agrees that it will not disclose the contents of the Agreed Maintenance Programme to any person or entity except to the extent necessary to monitor Lessee’s compliance with this Agreement and/or to bridge the maintenance
programme for the Aircraft from the Agreed Maintenance Programme to another programme after the Expiry Date. 

  

	(c)	If at redelivery, there are any missing or incomplete documents or records, Lessee will, at its cost and expense, re-accomplish, or cause to be re-accomplished, the
tasks necessary to produce such records prior to redelivery of the Aircraft. 

  

	10	Storage 

 Upon redelivery
of the Aircraft, Lessee shall if given at least thirty (30) days prior written notice by Lessor use its reasonable endeavours to assist Lessor having regard to, inter alia, Lessee’s space and operational requirements and any required
approvals, to store, maintain and insure the Aircraft at Lessor’s cost at Lessee’s principal operating base for a period not exceeding sixty (60) days from the redelivery of the Aircraft. For the avoidance of doubt, Lessee shall not
be required to store, maintain and insure the Aircraft under this paragraph, if Lessee reasonably determines that to do so would adversely affect its commercial operations. 

 

	11	Ferry Flight 

 Upon
redelivery of the Aircraft, Lessee will, at Lessor’s sole risk and expense, and provided that: (a) Lessor has irrevocably and unconditionally accepted Redelivery of the Aircraft as evidenced by the delivery to Lessee of a certificate
confirming technical acceptance in form and substance satisfactory to Lessee (acting reasonably) and has executed and delivered in escrow an acknowledgement confirming acceptance of the Aircraft satisfactory to Lessee (acting reasonably) with
instructions to release the same to Lessee immediately upon arrival of the Aircraft to the Ferry Flight destination; and (b) Lessee receives not less than thirty (30) days prior written notice from Lessor, fly the Aircraft from the
Redelivery Location to such location as Lessor may designate (the “Ferry Flight”) (provided that Lessee is licensed and fully authorized to do so by all relevant authorities). Lessee will provide insurance coverage for the duration
thereof equivalent to that provided by the policies required upon Appendix 7. The Lessor shall promptly reimburse Lessee the actual costs incurred by Lessee (without any element of Lessee profit or Lessee mark up) in performing such Ferry Flight,
including maintaining the insurances in connection therewith, upon presentation of appropriate invoices. 
  

	12	Fuel 

 Immediately after
redelivery of the Aircraft to Lessor, an adjustment will be made in respect of fuel on board on the Delivery Date and the Expiry Date at the price then prevailing at the Redelivery Location. 

 

	13	Rent 

 Within five
(5) Business Days after: 
  

	(a)	Redelivery in accordance with and in the condition required by this Agreement; or 

 

	(b)	payment to Lessor of the Agreed Value following a Total Loss after the Delivery Date; 

or in each case such later time as Lessor is satisfied that Lessee has irrevocably paid to Lessor all amounts which may then become
payable under this Agreement and any Other Agreement, Lessor will: 

  
 93 

	 	(i)	pay to Lessee the amount of any Rent received in respect of any period falling after the Redelivery Date or payment of the Agreed Value, as the case may be; and

  

	 	(ii)	if so requested by Lessee, return the balance of any Deposit (together with any interest accrued thereon pursuant to this Agreement) then held by Lessor.

  

	14	Warranties 

 Lessee shall
comply with its obligations under Clause 10. 

  
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 APPENDIX 8 
 PART 2 
 OPERATING CONDITION AT REDELIVERY 

On the Expiry Date the Aircraft, subject to fair wear and tear generally, will be in the condition set out below: 

 

	1	GENERAL CONDITION 

 The
Aircraft will: 
  

	(a)	be airworthy and in good operating condition, conforming to FAA or EASA type design certification and be clean by scheduled, passenger airline standards and will be
configured in the same configuration as at Delivery (except for the cabin which shall be 174Y) or such other configuration as Lessor may agree; 

  

	(b)	be returned with Lessor’s Engines and all Parts installed and with the same equipment as at Delivery, subject to replacements permitted under this Agreement;

  

	(c)	have installed the full complement of systems, equipment, parts, accessories, furnishings and loose equipment as normally installed in the Aircraft for continued
regular airline service operating within limits specified in the Manufacturer’s maintenance manual and functioning in accordance with their intended use and in compliance with operations under EU OPS 1, EASA Part M, or its successors equipment
standards; 

  

	(d)	have a currently valid certificate of airworthiness issued by the Air Authority and a valid export certificate of airworthiness (and a deregistration certificate)
issued by the Air Authority to such a country as will be specified by the Lessor and be in a condition qualifying for immediate issue of certificate of airworthiness pursuant to a Lessor specified EASA/EASA member state to EU OPS 1, EASA Part M, or
its successors standard; 

  

	(e)	have immediately prior to redelivery, completed a C Check and no structural, systems, zonal and CPCP Airframe inspections will be due within the next following 6,000
Flight Hours and 4,500 Cycles and 20 months in accordance with the Maintenance Planning Document; 

  

	(f)	be in compliance with all Airworthiness Directives issued by FAA and EASA existing as at the Expiry Date and Mandatory Service Bulletins (which are mandatory or in
respect of which Lessee is complying for its other Fleet Aircraft), which require compliance prior to the redelivery; 

  

	(g)	if any waivers, alternate means of compliance, dispensations, extensions or carryovers with respect to any Airworthiness Directives or mandatory orders are granted by
the Air Authority or permitted by the Agreed Maintenance Programme, the Lessee will nonetheless perform such Airworthiness Directives or mandatory orders as if such waivers, alternate means of compliance, dispensations or extensions did not exist;

  

	(h)	have installed all applicable original equipment manufacturer’s and manufacturer’s service bulletin kits received free of charge by the Lessee that are
appropriate for the Aircraft and to the extent not installed, those kits will be furnished free of charge to the Lessor; 

  

	(i)	at redelivery, be painted in Lessee’s exterior livery with such painting having been accomplished in accordance with the Airframe Manufacturer’s recommended
procedures for painting of aircraft; 

  
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	(j)	have all signs and decals clean, secure and legible; 

  

	(k)	meet the requirements of ICAO Annex 16, Chapter 3 noise compliance (as stated in the Air Authority issued noise certificate) without waiver or restriction;

  

	(l)	have no open, deferred, continued, carry over or placard log book items and have no temporary or time-limited structural repairs. No special or unique inspection or
check requirements which are specific to the Aircraft (as opposed to all aircraft of the same model) will exist with respect to the Aircraft; 

  

	(m)	be free of fuel, oil, hydraulic and pneumatic leaks in excess of maintenance manual limits allowing continued in service operation without special inspection. Hydraulic
and pneumatic leaks will be within maintenance manual limits for continued operation. Any temporary leak repairs will have been replaced by Permanent Repairs. All oil and hydraulic tanks and reservoirs and systems along with lavatory and potable
water tanks and systems shall have been freshly and full serviced; 

  

	(n)	have all non-structural repairs, modifications and alterations accomplished in accordance with Airframe Manufacturer’s service bulletins or Airframe
Manufacturer’s written approval (with a statement of conformity to type certificate data); 

  

	(o)	have no less than the Aircraft flight manual approved design weights; and 

  

	(p)	be in compliance with all Maintenance Planning Document structural tasks as single aircraft, without reliance upon the compliance status or structural sampling of the
other Fleet Aircraft. 

  

	1.2	The Lessee agrees if requested in writing by Lessor at least ninety (90) days prior to Redelivery to perform or cause to be performed, during the Final
Inspection, providing such work does not cause the planned grounding of the Aircraft to be extended or for Redelivery to be delayed, any other work reasonably requested by the Lessor to enable the Aircraft to be placed on another maintenance
programme and the Lessor shall reimburse the Lessee for the reasonable actual cost of such other work required by the Lessor at the Lessee’s best rate to third parties where the work is performed by Lessee or pay all costs incurred by Lessee
for such work where such work is performed by a third party. 

  

	2	COMPONENTS 

  

	(a)	Each Flight Hour and Cycle controlled Hard Time Component (other than the Landing Gear and APU) shall have not less than 6,000 Flight Hours and 4,500 Cycles (or 100% of
Hard-Time life if this interval is less) of life remaining to the next scheduled removal, in accordance with the Agreed Maintenance Programme and the Maintenance Planning Document (including the Airworthiness Limitations). Each calendar controlled
Hard Time Component including safety equipment will have not less than 20 months or 100% life remaining (whichever is less) to the next scheduled removal in accordance with the Agreed Maintenance Programme and the Maintenance Planning Document. Hard
Time Components shall be supported by appropriate certification documentation indicating TSN, CSN, TSO and CSO such as EASA/EASA form 1 or FAA form 8130-3. For this purpose “Hard Time Component” means any component which has a
limited on-wing life in accordance with the Agreed Maintenance Programme and the Maintenance Planning Document and which can have life fully restored through appropriate maintenance. 

 

	(b)	 Each Airframe Life-Limited Component will have not less than 6,000 Flight Hours and 4,500 Cycles and 20 months remaining to next scheduled removal in
accordance with the Agreed Maintenance Programme and the Maintenance Planning Document and Aircraft EASA type certificates and will be supported by certification documentation necessary to

  
 96 

	 	
demonstrate traceability back to birth. For this purpose “Airframe-Life Limited Component” means a component with an ultimate life which cannot be restored through appropriate
maintenance. 

  

	(c)	Each “on-condition” and “condition-monitored” component will be serviceable and shall be supported by appropriate certification
documentation such as EASA form 1 or FAA form 8130-3 at the point of last installation on the Aircraft if replaced since Aircraft new delivery. The “condition-monitored” components shall be supported by an appropriate reliability
programme and data in accordance with the Agreed Maintenance Programme. 

  

	(d)	The installed components will have total Flight Hours and Cycles since new no more than 110% of the Aircraft total Flight Hours and Cycles since new.

  

	(e)	There shall be no PMA Parts on the Aircraft, save for consumable parts. For these purposes “consumable parts” means any non-serialised item of aircraft
material which is used only once and is not re-usable, such as (but not limited to) filters, seals, lubricants, cements, compounds, paints, chemicals, dyes and sealants. 

 

	3	ENGINES 

 The original
Engine or Suitable Replacement Engine (in case of Total Loss) is in the configuration as permitted under this Agreement installed on the Aircraft shall comply with the following: 

 

	(a)	have no less than 4,500 Cycles scheduled life remaining in respect of Engine LLPs and no more than 110% of the Aircraft total Flight Hours and Cycles since new. Engine
Life Limited Parts will be supported by certification documentation necessary to demonstrate traceability back to birth. 

  

	(b)	will have accumulated no more than 7,000 Flight Hours and 7,000 Cycles since new or last Engine Performance Restoration shop visit. 

 

	(c)	shall be serviceable and capable of full rated performance without limitations throughout the entire operating envelop of the Aircraft as defined in the EASA AFM. Each
Engine shall have at least 25C sea level hot day EGT margin; 

  

	(d)	all items beyond the Engine Manufacturer’s in-service limits will be repaired; 

 

	(e)	will have just completed at the Redelivery Location on or about the Redelivery Date an all module, hot and cold section video borescope inspection. Lessee will also
have just completed in respect of each Engine an inspection of each magnetic chip detector, laboratory oil sample analysis, main oil screen and oil and fuel filter inspections. Any defects discovered in such inspections which exceed the Engine
Manufacturer’s in-service limits shall be corrected at the Lessee’s expense. No Engine shall be “on watch” for any reason requiring any special or out of sequence inspection or reduced interval inspections. Each such
Engine will comply with and have been maintained in accordance with the Agreed Maintenance Programme without waiver or exceptions. All items beyond the Engine manufacturer’s in-service limits shall be repaired; and 

 

	(f)	have trend or condition monitoring data over at least the previous year; if Engine trend or condition monitoring data indicates a rate of acceleration in performance
deterioration over at least the previous ninety days, which is higher than normal based on the maintenance experience of the Engine Manufacturer in operating the same model of engines, under similar conditions, the Lessee will, prior to redelivery,
cause to be corrected such conditions which are determined to have exceeded tolerances defined for such engines in the Manufacturer’s maintenance manual or are otherwise determined to be causing such performance deterioration.

  
 97 

	4	FUSELAGE, WINDOWS AND DOORS 

  

	(a)	The fuselage and doors will be free of major dents and abrasions, loose or pulled or missing rivets in excess of maintenance manual limits and all repairs are Permanent
Repairs. 

  

	(b)	Windows will be free of major delamination, blemishes and crazing in excess of maintenance manual limits allowing continued in service operation without special
inspection or other action and will be properly sealed. 

  

	(c)	Doors will be free moving, correctly rigged and be fitted with serviceable seals. 

 

	(d)	All external repairs for the pressurised fuselage shall have been reviewed in accordance with the latest revision of the Manufacturer’s repair assessment programme
(if issued, and otherwise in accordance with the Manufacturer’s published guidelines) applicable at the time of repair and supported by certified documentation evidencing accomplishment in accordance with EASA or FAA approved data (that is, the
Manufacturer’s structural repair manual or the Manufacturer’s service bulletin or the Manufacturer’s written approval or FAA/EASA STC (Supplemental Type Certificate) or FAA Form 8110- 3/8100-9 approval or otherwise approved by the
EASA or FAA. 

  

	5	WINGS AND EMPENNAGE 

  

	(a)	The wings including nacelles and empennage will be free of major dents and abrasions, loose or pulled or missing rivets in excess of maintenance manual limits and all
repairs are Permanent Repairs. 

  

	(b)	Unpainted surfaces will be in the same condition as at Delivery, fair wear and tear accepted. 

 

	(c)	The wings will be free of fuel leaks in accordance with the maintenance manual allowing continued in service operation without special inspection or other action. The
fuel tanks will have recently undergone an anti-fungal and biological growth contamination laboratory evaluation, with appropriate correction taken in accordance with the Manufacturer’s maintenance manual in the event excessive levels of
contamination are identified. 

  

	6	INTERIOR AND COCKPIT 

  

	(a)	The aircraft shall be in 174Y configuration or a configuration agreed between the Lessor and the Lessee. 

 

	(b)	The Aircraft interior including cockpit, windows, main cabin and cargo compartments shall have been maintained in accordance with the Agreed Maintenance Programme will
be clean by normal industry standards, with all components free of excessive levels of foreign objects, dirt, grease, fluids, stains, grime, cracks, tears and rips and ready to be placed into immediate commercial airline operation.

  

	(c)	No less than 50 per cent (50%) of aisle seats shall have moveable armrests. 

 

	(d)	The Aircraft shall have reinforced cockpit door. 

  

	(e)	The flight deck shall be clean, substantially free of stains and cracks in excess of maintenance manual limits allowing continued in service operation without special
inspection or other action and all systems shall function properly. 

  
 98 

	(f)	Soft furnishings including galley floor coverings, carpets, curtains, seat covers and seat cushions will be in good condition, freshly cleaned and free of stains and
meet EASA/FAA 25.853 and any subsequent EASA/FAA fire resistance regulations. 

  

	(g)	Interior panels (including overhead bins, sidewall and ceiling panels, bulkheads and cargo compartment panels), and related seals (including window seals) shall be
clean and substantially free of holes, cracks, temporary repairs and numerous dents. 

  

	(h)	All signs and decals shall be clean secure and legible. 

  

	(i)	Lessee’s logos, insignias and proprietary markings shall be removed and the surface restored or repainted such that no evidence of such items remains.

  

	(j)	Safety belts and harnesses shall be free of stains, discolouration, and fraying other than minor stains, discolouration and fraying. 

 

	(k)	Seats, lavatories and galleys shall be to an international airline standard and shall be fully serviceable, in good condition and repainted as necessary.

  

	(l)	All panels and nets in the cargo compartment shall be in good condition; all rollers and cargo restraint / nets and moving mechanisms shall be serviceable; and all
compartments shall meet the then current the EASA and FAA fire regulations; all doors shall be rigged and functioning properly; and the compartments shall be freshly painted. 

 

	(m)	All interior placards shall be in the English language. 

  

	7	LANDING GEAR; WHEELS AND BRAKES 

  

	(a)	The Landing Gear and wheel wells will be clean, free of leaks and repaired as necessary and the Landing Gear shall have been stripped and repainted during any Landing
Gear Overhaul (if applicable). 

  

	(b)	Each installed Landing Gear shall have no less than 4,500 Cycles and 24 months (whichever is the most limiting factor) life remaining to the next scheduled removal in
accordance with Agreed Maintenance Programme and the Maintenance Planning Document. Life Limited Part within each installed Landing Gear shall have not more than 110% of the Airframe total Cycles since new and certificates and will be supported by
certification documentation necessary to demonstrate traceability back to birth. 

  

	(c)	The Landing Gear modification standard will meet the manufacturer requirements for an Aircraft Maximum Take-Off Weight as of delivery. 

 

	(d)	The brakes will incorporate brake cooling fans. 

  

	(e)	The tyres, wheels and brakes will have on average, not less than half of their useful life remaining but in no case, less than 25% of their useful life remaining.

  

	(f)	The wheels and brakes of the Landing Gear shall be manufactured by either Goodrich or Messier. 

 

	8	AUXILIARY POWER UNIT 

  

	(a)	The APU will be serviceable in accordance with the requirements of the Maintenance Manual as evidenced by Maintenance Manual tests and inspections.

  

	(b)	APU Life Limited Parts will be supported by certification documentation necessary to demonstrate traceability back to birth. 

  
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	(c)	The APU will have not accumulated more than 4,000 APU Hours of operation since new or last APU Performance Restoration. 

 

	(d)	The APU will have completed a video borescope inspection prior to redelivery and any defects discovered in such inspection, which exceed the APU manufacturer in-service
limits, will be corrected. 

  

	9	CORROSION 

  

	(a)	The Aircraft shall be in compliance with the Manufacturer’s CPCP document, the CPCP requirements of the Maintenance Planning Document and FAA CPCP airworthiness
directive requirements. 

  

	(b)	The entire fuselage will be substantially free from corrosion and all mild and moderate corrosion found will be adequately cleaned and treated and all severe or
exfoliated corrosion shall be repaired in accordance with the Manufacturer’s structural repair manual. 

  

	10	WEIGHT AND BALANCE 

 The
weight and balance Schedule will be accurate, current and represent the Aircraft’s configuration at the time of redelivery. 
  

	11	FUEL TANKS AND SYSTEMS 

There will be no untreated or uncorrected fungus or corrosion including fungus or corrosion within the fuel tanks and fuel systems, and
the Lessee will ensure that all fuel tanks are tested for fungus or other contamination, rectified and treated when applicable and certified clear. 

  
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 APPENDIX 8 
 PART 3 
 AIRCRAFT DOCUMENTS AT REDELIVERY 

All Aircraft Documents will be in the condition as on Delivery, amended as required by the terms of this Agreement, by the Air Authority and by the EASA
and FAA up to the Redelivery Date. 
 All of the Aircraft Documents referred to in the preceding sentence will be made available at Redelivery
to the Lessor for inspection and will be in accordance with the regulations of the Air Authority. 
 The Aircraft Documents will include a list
of all tasks performed by the Lessee between Delivery and Redelivery. 
 The following documentation and information is part of the Aircraft and
is the property of the Lessor. The documentation shall be in English, complete, current, accurate and include the latest revisions. All documentation shall have the necessary stamps, endorsements, certifications and signatures where appropriate.
Workable electronic copies should be provided if available. 
 Bulk storage media (CD, DVD) shall be in an industry standard format, requiring
no proprietary or “fee added” software to access. 
 Any costs associated with decustomisation of manuals provided by the
Manufacturer’s online service shall be borne by Lessee. 
  

	(1)	Certificates 

  

	 	(c)	Certificate of Airworthiness; 

  

	 	(d)	Certificate of Registration; 

  

	 	(e)	Aircraft De-Registration Confirmation (if applicable); 

  

	 	(f)	Export Certificate of Airworthiness issued by the last country of registry; 

 

	 	(g)	Noise Limitation Certificate (AFM page); and 

  

	 	(h)	Burn Certificates (Cabin Interiors), unless maintained as per Manufacturer type certificated configuration, as follows: 

 

	 	(i)	Certification of compliance with fire blocking requirements as outlined in the applicable regulation; 

 

	 	(ii)	Bottom Seat cushions (including “in combination” burn certification), Passenger and Cabin attendant; 

 

	 	(iii)	Back rest cushions (including “in combination” burn certification), Passenger and Cabin attendant; 

 

	 	(iv)	Dress covers (including “in combination” burn certification), Passenger and Cabin attendant; 

 

	 	(v)	Carpets; 

  

	 	(vi)	Curtains; and 

  
 101

	 	(vii)	Interior Surfaces (if refurbished). 

  

	(2)	Manuals 

  

	 	(a)	EASA/FAA Approval Airplane Flight Manual; 

  

	 	(b)	Weight and Balance Manual and Supplements (in U.S. units), including last weigh paperwork; 

 

	 	(c)	Operations Manual (Manufacturer’s generic); 

  

	 	(d)	Quick Reference Handbook (Manufacturer’s generic); 

  

	 	(e)	Structural Repair Manual; 

  

	 	(f)	Aircraft Maintenance Manual; 

  

	 	(g)	Component Maintenance Manuals, (CMM, IPC, SRM) for the following cabin BFE, if such BFE is not factory installed and included in the Aircraft Manuals:

  

	 	(i)	Galleys; 

  

	 	(ii)	Coffee Makers, Ovens, Hot Jugs and other galley equipment; 

  

	 	(iii)	Lavatories; 

  

	 	(iv)	Toilet Assemblies; 

  

	 	(v)	Closets; 

  

	 	(vi)	Class Dividers (if applicable); and 

  

	 	(vii)	Passenger Seats; 

  

	 	(h)	Aircraft Illustrated Parts Catalog (I.P.C.) (Operator Customized), if Lessee uses a numbering system which differs from the system used by the Manufacturers, Lessee
will provide a certified cross reference listing, which shall include each part number used by Lessee and cross referenced to the Manufacturer’s part number; 

 

	 	(i)	Operator part number to manufacturer part number cross reference; 

  

	 	(j)	Aircraft Wiring List; 

  

	 	(k)	Aircraft Schematics Manual; 

  

	 	(l)	Engine CMM, IPC; 

  

	 	(m)	APU CMM, IPC; 

  

	 	(n)	Latest operator’s Maintenance Program; 

  

	 	(o)	Latest operator’s Minimum Equipment List; 

  

	 	(p)	Configuration Deviation List; and 

  

	 	(q)	Any other Manual originally delivered by Airbus to the Lessee, Technical documentation, Manuals). 

  
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	(3)	Airworthiness Directives Documentation 

  

	 	(a)	The Aircraft shall have all records associated with AD compliance: 

  

	 	(i)	A complete and current applicable AD status list of each Airframe, appliance, Engine and APU Airworthiness Directive applicable to the Aircraft. This list shall
include, but not be limited to: 

  

	 	(1)	AD number and revision number; 

  

	 	(2)	AD title; 

  

	 	(3)	Aircraft serial number, Engine serial number, APU serial number, appliance serial number, as applicable; 

 

	 	(4)	Engineering documentation reference; 

  

	 	(5)	Manufacturer’s Service Bulletin reference and cross-references where appropriate; 

 

	 	(6)	Specify terminated or repetitive status; 

  

	 	(7)	Date of initial accomplishment; 

  

	 	(8)	Date of last maintenance accomplishment, if repetitive; 

  

	 	(9)	Name and serial number of the internal maintenance form used to document accomplishment, if applicable; 

 

	 	(10)	The means by which compliance was accomplished (e.g., modified, repaired, inspected); and 

 

	 	(11)	Details of any alternate means of compliance, including references, intervals, and applicability. 

 

	 	(b)	The list shall be typed, certified and signed by an authorized quality assurance representative of last operator at Delivery or of Lessee at redelivery of the Aircraft,
and countersigned by Lessor at Delivery or by Lessee at redelivery of the Aircraft. The list shall also be delivered in workable electronic format. 

  

	 	(c)	Legible copies of the dirty fingerprint work card completion documents that accomplish each AD If the AD is a repetitive inspection, documentation of the last
accomplishment is sufficient. These documents must have date of accomplishment, signature of a certified mechanic and/or inspector, and/or the mechanics/inspector’s certificate number or repair station number of the mechanic accomplishing the
work. 

  

	 	(d)	Exemptions or deviations granted by the FAA or EASA (as applicable) on AD compliance, including copy of exemption request. 

 

	 	(e)	Items c) and d) will be provided in document packages for each AD. Each package will contain all documents relative to the AD/Aircraft combination, and include copies
of the AD. 

  

	(4)	Engineering Documentation 

  

	 	(a)	A current list (in paper and workable electronic format) of Airframe, appliance, Engine and APU Service Bulletins, Engineering Orders, major repairs and Supplemental
Type Certificates accomplished on the Aircraft, each Engine and the APU. For appliances, only AD related Service Bulletins and Engineering Orders are required. 

 

	 	(b)	Legible copies of the detailed dirty fingerprint work card accomplishment documentation for each Airframe, appliance, Engine and APU Service Bulletin, Engineering
Order, major repair and Supplemental Type Certificate accomplished on the Aircraft, each Engine and the APU, to include the following: 

  

	 	(i)	SB number and revision number; 

  
 103

	 	(ii)	SB title; 

  

	 	(iii)	Aircraft serial number, Engine serial number, APU serial number, appliance serial number as applicable; 

 

	 	(iv)	Engineering documentation reference; 

  

	 	(v)	Manufacturer’s Service Bulletin reference and cross-references where appropriate; 

 

	 	(vi)	Specify terminated or repetitive status; 

  

	 	(vii)	Date of initial accomplishment of each portion of such engineering document; 

 

	 	(viii)	Date of last maintenance accomplishment, if repetitive; 

  

	 	(ix)	Name and serial number of the internal maintenance form used to document accomplishment, if applicable; and 

 

	 	(x)	Statement of the means by which compliance was accomplished (e.g., modified, repaired, inspected). 

 

	 	(c)	FAA or EASA approvals (as applicable) for modifications or alterations not covered by manufacturer’s Service Bulletins (including appliances).

  

	 	(d)	A current copy of all Engineering documentation related to all Aircraft alterations, repairs and configuration changes. This shall include documentation for work done
by the previous owner(s) and operators(s), the manufacturer or any seller. 

  

	 	(e)	Data packages covering all non-manufacturer/non-EASA/non-FAA-designed repairs or alterations, including the submittal to the FAA or EASA for an STC or Form 337, if
applicable. The data packages shall include the following: 

  

	 	(i)	engineering orders; 

  

	 	(ii)	drawings; 

  

	 	(iii)	parts lists; 

  

	 	(iv)	installation documentation; 

  

	 	(v)	engineering analysis as submitted to obtain the STC or Form 337 approval; 

  

	 	(vi)	all manual supplements (MM, IPC, WD, AFM); 

  

	 	(vii)	maintenance program supplements; and 

  

	 	(viii)	any and all reference documents referenced by documents contained in this section (4); 

 

	 	(f)	Engineering deviations records, if any, applicable to the airframe, Engines and APU, components and piece parts. 

 

	 	(g)	Digital Flight Data Recorder System technical description. 

  
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	(5)	Aircraft Maintenance Status Summaries 

  

	 	(a)	Certified current Time in Service (Flight Hours & Cycles); 

  

	 	(b)	Certified maintenance status of the Aircraft, including Aircraft serial number, hours, cycles and days since major checks and applicable time remaining to major checks;

  

	 	(c)	Certified status of system, zonal and structural tasks, including SSI (including last accomplished and next due) and other scheduled tasks as per MPD number (in paper
and workable electronic format); 

  

	 	(d)	Certified status of CPCP (including last accomplished and next due); 

  

	 	(e)	Certified current status for all life limited parts and hard time components for the Airframe, Landing Gears, Engines and APU, including back-to-birth history for all
Landing Gear and Engine LLPs and, to the extent any Engine LLPs have been used in higher rated engines, a summary of the Engine Flight Hours and Engine Cycles consumed on each such Engine LLP by use on such higher rated engines(s);

  

	 	(f)	Certified listing of Aircraft, Landing Gear, Engine and APU components status to the extent required by the Air Authority or EASA by P/N – S/N – Description
Position TSO - TSN, CSO – CSN, Total time, Total Cycles, next Due Time, including explanations of abbreviations; 

  

	 	(g)	Certified status of all non-SB and Major Modifications/STC’s including acceptable State of Manufacture Certification and/or equivalent EASA or FAA approval;

  

	 	(h)	List of out of Phase Checks, Service Bulletins requiring continuous surveillance and Special Requirements (if any); 

 

	 	(i)	Declaration of Aircraft Accident/Incident Report and major repairs, if any; and 

 

	 	(j)	Structural repairs and damage report (including Dent & Damage Chart) for pressure vessel, and unpressurized areas. 

 

	(6)	Aircraft Maintenance Records 

  

	 	(a)	Aircraft maintenance log from the past 24 months; 

  

	 	(b)	Cabin maintenance log from the past 24 months; 

  

	 	(c)	A Checks - Complete work card packages, tally sheets, material data sheets and maintenance releases for a complete cycle of A Checks (or equivalent);

  

	 	(d)	C Checks - Complete work card packages, tally sheets, material data sheets and maintenance releases for a complete cycle of C Checks (or equivalent);

  

	 	(e)	Complete work card packages, tally sheets, material data sheets and maintenance releases for all major checks (or equivalent); 

 

	 	(f)	Documentation and records concerning the last Aircraft major structural inspection including CPCP Tasks and Structural Sampling Inspection; 

 

	 	(g)	Last Weight & Balance Report including Schedule; 

  

	 	(h)	Last FDR parameter check; 

  
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	 	(i)	Last Test Flight Report; and 

  

	 	(j)	Certified Cross reference list for each MPD task number vs. last operator’s Task Card number including date/time/cycles of last accomplished and next due.

  

	(7)	Configuration Status 

  

	 	(a)	EASA or FAA Approved and certified LOPA; 

  

	 	(b)	Galley Drawings; 

  

	 	(c)	Emergency, Safety and Loose Equipment Layout/Listing showing description, quantity, manufacturer, part number and location; 

 

	 	(d)	Inventory Listing of Avionics installed units; 

  

	 	(e)	Aircraft Major Equipment listing or current equipment list if not included in Weight and Balance Control and Cargo Loading Manual; 

 

	 	(f)	List of applicable STC’s; 

  

	 	(g)	Aircraft Detail Specification; 

  

	 	(h)	Passenger/ Cargo Buyer Furnished Equipment List (including, but not limited to seats, galley, lavatories, entertainment, cargo handling, emergency equipment.); and

  

	 	(i)	Electrical Load Analysis documents and data. 

  

	(8)	Aircraft Historical Records 

  

	 	(a)	Copy of original Export Certificate of Airworthiness; 

  

	 	(b)	Manufacturer’s AD Report; 

  

	 	(c)	Manufacturer’s Inspection Report, Initial Equipment list; 

  

	 	(d)	Manufacturer’s repair/alteration report (at new delivery), or statement that no such report was produced; 

 

	 	(e)	Manufacturer’s SB Report; 

  

	 	(f)	Copies of all Supplemental Type Certificates; 

  

	 	(g)	Last Flight Data Recorder Read-out and calibration standards; 

  

	 	(h)	Weighing reports; 

  

	 	(i)	Historical report showing cumulative times for last major inspection accomplishments, Engine changes, landing gear and APU changes, etc.; and 

 

	 	(j)	any other documents as per List of Technical Documents provided by Airbus at new delivery. 

 

	(9)	Engine Records 

  

	 	(a)	Engine log book or Engine Data Submittal; 

  
 106

	 	(b)	Current Disk Sheet (LLP Sheet) signed and certified; 

  

	 	(c)	Manufacturer Delivery Documents; 

  

	 	(d)	Complete copies of all historical engine/ module shop visit reports and engine last shop visit report; 

 

	 	(e)	Copies of all dirty finger print shop work cards and material data sheets covering the last overhaul of each module; 

 

	 	(f)	On Wing Repair records; 

  

	 	(g)	Engine Log Book/ Master Records of Installation/Removals; 

  

	 	(h)	Last Borescope Report, including video if available; 

  

	 	(i)	Last Test Cell Run Report for any shop visit; 

  

	 	(j)	If the Engines have not been involved in an incident, certified Statement that Engines are not involved in an accident; 

 

	 	(k)	Certified “On-Watch” statement; 

  

	 	(l)	List of “On-Watch Items” items requiring repetitive inspections; 

 

	 	(m)	List of repetitive inspections that are not required by AD; 

  

	 	(n)	List of technical variances or maintenance requirements unique to the particular Engine; 

 

	 	(o)	Certified Accessory LRU List with Approved Release to Service Certification (FAA 8130-3 or JAA/EASA Form 1) for installed LRU’s; 

 

	 	(p)	Engine Trend Monitoring data for the last 12 months of operation (it being agreed that Lessor and Lessee shall discuss in good faith the cost in connection with the
provision of such report prior to Redelivery); 

  

	 	(q)	Last engine run and power assurance report; 

  

	 	(r)	All Life Limited Parts (“LLPs”) will have complete life traceability of time consumed (cycles and/or hours as applicable) since new. Such traceability
shall include historical removal and installation documentation of each LLP in respect of each Engine or module where such LLP had been installed and where time has been consumed. Each removal and installation document will evidence LLP total hours
and LLP total cycles accumulated in each Engine or module; 

  

	 	(s)	Each LLP will have a signed and certified cover page including engine or module total hours, total cycles, part total hours, total cycles and date for each removal and
installation depicting the life of the part since new. Notwithstanding, any LLPs replaced during the term of the lease will have the most recent FAA 8130-3 tag or JAA/EASA Form 1, as applicable, used to install such LLP into the applicable Engine or
module; 

  

	 	(t)	Engine Manufacturer’s, EASA or FAA approved data shall be provided for any discrepancies outside of the Engine Manufacturer’s Engine Manual shop limits that
documents approval for unlimited continued service, without time limitations for removal, repair or replacement, or have any special or distinct inspection requirements. The data shall include: 

 

	 	(i)	Approval form; 

  
 107

	 	(ii)	Complete description of the discrepancy; and 

  

	 	(iii)	Supporting analysis and documentation; 

  

	 	(u)	Engine Manufacturer’s or FAA approved data shall be provided for any repairs not in accordance with the Engine Manufacturer’s Engine Manual that documents
approval for unlimited continued service, without time limitations for removal, repair or replacement, or have any special or distinct inspection requirements. The data shall include: 

 

	 	(i)	Approval form; 

  

	 	(ii)	Complete description of repair; and 

  

	 	(iii)	Supporting analysis and documentation. 

  

	(10)	APU 

  

	 	(a)	Certified Statement on Status of APU; 

  

	 	(b)	In house modifications (if applicable); 

  

	 	(c)	Approved Release to Service Certification for installed units; 

  

	 	(d)	APU Log Book/ Master Record of Installation/ Removals; 

  

	 	(e)	Complete copies of all APU Shop Visit Reports & reason for removal; 

 

	 	(f)	Copies of all dirty finger print shop work cards and material data sheets covering the last overhaul of the APU; 

 

	 	(g)	Statement of APU hours to Aircraft Flying hours (if applicable); 

  

	 	(h)	Last APU Borescope Report; 

  

	 	(i)	Last Test Run Report for any shop visit; 

  

	 	(j)	All Life Limited Parts will have complete life traceability of time consumed (cycles and/or hours as applicable) since new. Such traceability shall include historical
removal and installation documentation of each LLP in respect of each APU where such LLP had been installed and where time has been consumed. Each removal and installation document will evidence LLP total hours and LLP total Cycles accumulated in
each Engine or module; 

  

	 	(k)	Each LLP will have a signed and certified cover page including engine or module total hours, total Cycles, part total hours, total Cycles and date for each removal and
installation depicting the life of the part since new. Notwithstanding, any LLPs replaced during the term of the lease will have the most recent FAA 8130-3 tag or JAA/EASA Form 1, as applicable, used to install such LLP into the applicable APU;

  

	 	(l)	APU manufacturer’s, EASA or FAA approved data shall be provided for any discrepancies outside of the APU Manufacturer’s Engine Manual shop limits that
documents approval for unlimited continued service, without time limitations for removal, repair or replacement, or have any special or distinct inspection requirements. The data shall include: 

 

	 	(i)	Approval form; 

  
 108

	 	(ii)	Complete description of the discrepancy; and 

  

	 	(iii)	Supporting analysis and documentation; 

  

	 	(m)	APU manufacturer’s or FAA approved data shall be provided for any repairs not in accordance with the APU Manufacturer’s Engine Manual that documents approval
for unlimited continued service, without time limitations for removal, repair or replacement, or have any special or distinct inspection requirements. The data shall include: 

 

	 	(i)	Approval form; 

  

	 	(ii)	Complete description of repair; and 

  

	 	(iii)	Supporting analysis and documentation. 

  

	(11)	Components 

  

	 	(a)	Approved Release to Service Certification including either FAA 8130-3 or JAA/EASA Form 1 and last repair/overhaul records for hard time components (whether tracked on
an individual component basis or controlled as part of scheduled airframe check); and 

  

	 	(b)	Approved Release to Service Certification including either FAA 8130-3 or JAA/EASA Form 1 and last repair/ overhaul records for on condition and condition monitored
components. 

  

	(12)	Landing Gear 

  

	 	(a)	Approved Release to Service Certification for each fully built gear assembly, or major assemblies on each gear, as applicable, including either FAA 8130-3 or JAA/EASA
Form 1; 

  

	 	(b)	Last Shop Visit Report; and 

  

	 	(c)	Statement which indicates if the Aircraft operates with BSCU software L4.1 or L4.5. 

 

	(13)	Repairs 

  

	 	(a)	Manufacturer’s or EASA approved data shall be provided for any discrepancies outside of Manufacturer’s Structural Repair Manual limits or applicable
Maintenance Manual limits that documents approval for unlimited continued service, without time limitations for removal, repair or replacement. There shall be no special or distinct inspection requirements; 

 

	 	(b)	All repairs will be in accordance with the Manufacturer’s maintenance manual and Manufacturer’s Structural Repair Manual, or will have Manufacturer’s or
EASA approved data. Repairs will not have any time limitations for removal, repair, or replacement. There shall be no special or distinct inspection requirements; 

 

	 	(c)	All repairs to the pressure vessel shall be documented in accordance with the repair assessment guidelines set forth in FAR 121.370 or the EASA equivalent;

  
 109

	 	(d)	All repairs to un-pressured parts of the Aircraft shall be documented in accordance with the repair assessment guidelines set forth in FAR 121.370 or the EASA
equivalent; and 

  

	 	(e)	A repair and dent map shall be provided which includes the following: 

  

	 	(i)	Photo (if available) or drawing of the location, type and form of the repair; 

 

	 	(ii)	Details of the repair including dimensions of the damage, location, copies of the SRM if referenced, Form 8110-3 or Form 8100-9 if applicable, material utilized in the
repair, DER paperwork, and any engineering data utilized; 

  

	 	(iii)	A diagram of sufficient size and detail to illustrate all repairs to the entire Aircraft to include fuselage, empennage, and wings as well as an additional separate map
of all dents on the aircraft. 

  

	(14)	Software 

  

	 	(a)	All software and databases associated with or relating to any electronic or avionic equipment, if any, shall be compliant with the manufacturer’s recommended
standards at time of delivery, except for Lessee customized or Lessee proprietary software and databases. Any proprietary software or databases shall be replaced by generic equivalents; 

 

	 	(b)	A certified listing of onboard loadable software and databases to include the following: 

 

	 	(i)	ATA chapter; 

  

	 	(ii)	nomenclature; 

  

	 	(iii)	part number; 

  

	 	(iv)	revision date; and 

  

	 	(v)	expiration date; 

  

	 	(c)	Controlled diskettes or other seller provided physical media as appropriate for directly loading the software onto the Aircraft shall be provided as part of the
documentation (subject to express licensing or patent restrictions); and 

  

	 	(d)	Procedures for obtaining downloadable software from the internet. 

  
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 APPENDIX 9 
 PART 1 
 EVENTS OF DEFAULT 

 

	(a)	Lessee fails to make any payment of Rent or Agreed Value or Total Loss proceeds on the due date and such payment remains unpaid for three (3) Business Days after
the due date therefor; or 

  

	(b)	Lessee or the Guarantor fails to make any other payment (other than those specified in (a) above) under any of the Transaction Documents to which it is a party
within ten (10) days of Lessor’s written demand for such payment; or 

  

	(c)	Lessee fails to comply with any provision of Appendix 7 or any Insurance required to be maintained under that Appendix is cancelled or terminated or notice of
cancellation is given in respect of any such Insurance; or 

  

	(d)	Lessee or the Guarantor fails to comply with any other provision of any of the Transaction Documents to which it is a party and, if such failure is capable of remedy,
the failure continues for thirty (30) days after notice from Lessor to Lessee; or 

  

	(e)	any representation or warranty made (or deemed to be repeated) by Lessee or the Guarantor in or pursuant to any of the Transaction Documents to which it is a party or
in any document or certificate or statement delivered pursuant thereto is or proves to have been incorrect in any material respect when made or deemed to be repeated and if capable of remedy shall not have been remedied within thirty (30) days
after receipt by Lessee of written notice from Lessor; or 

  

	(f)	any Financial Indebtedness of Lessee or the Guarantor individually or in the aggregate in excess of ***** is not paid when due or on demand, if payable on demand, or
becomes due prior to the date when it would otherwise have become due; or the security for any such Financial Indebtedness becomes enforceable; or 

  

	(g)	any consent, authorisation, licence, certificate or approval of or registration with or declaration to any Government Entity in connection with any Transaction Document
(including, without limitation): 

  

	 	(i)	any authorisation required by Lessee or the Guarantor to obtain and transfer freely Dollars (or any other relevant currency) out of any relevant country; or

  

	 	(ii)	required by Lessee or the Guarantor to authorise, or in connection with, the execution, delivery, validity, enforceability or admissibility in evidence of any of the
Transaction Documents to which it is a party or the performance by Lessee or the Guarantor of its obligations thereunder; or 

  

	 	(iii)	the registration of the Aircraft; or 

  

	 	(iv)	any air operator certificate or concession title, 

 is withheld, or is revoked, suspended, cancelled, withdrawn, terminated or not renewed, or otherwise ceases to be in full force and in the case of (iv) is not reinstated within thirty (30) days
in circumstances where Lessor is satisfied (acting reasonably) that Lessee is using its best endeavours to reinstate the same and the revocation, suspension, cancellation, withdrawal, termination or non renewal is not related to any act, omission or
default of Lessee; or 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 111 

	(h)	     

  

	 	(i)	Lessee or the Guarantor is, or is deemed for the purposes of any relevant law to be, unable to pay its debts as they fall due or to be insolvent, or any responsible
officer or shareholder of Lessee or the Guarantor or any person authorised by any of the above to do so, admits the inability of Lessor or the Guarantor to pay its debts as they fall due; or 

 

	 	(ii)	Lessee or the Guarantor suspends making payments on all or any class of its debts or announces an intention to do so, or a moratorium is declared in respect of any of
its indebtedness; or 

  

	(i)	     

  

	 	(i)	any step (including petition proposal or convening a meeting of the shareholders or directors) is taken with a view to considering a resolution to present an
application for, or with a view to a composition, assignment or arrangement with any creditors of, or the rehabilitation, administration, custodianship, liquidation, or dissolution of Lessee or the Guarantor or any other insolvency proceedings
involving Lessee or the Guarantor; or 

  

	 	(ii)	any order is made or resolution passed for any such composition, assignment, arrangement, rehabilitation, administration, custodianship, liquidation consurso mercantil,
dissolution or insolvency proceedings, or Lessee or the Guarantor becomes subject to or enters into any of the foregoing; or 

  

	 	(iii)	any liquidator, trustee in bankruptcy, judicial custodian, statutory manager, compulsory manager, receiver, síndico, administrator, examiner or the like is
appointed in respect of Lessee or the Guarantor or any of its assets; 

 but excluding: (X) in each case, any
proceedings for the purposes of an amalgamation or reorganisation the terms of which shall have received the prior written approval of Lessor which approval will not be unreasonably withheld or delayed where Lessor is satisfied (acting reasonably)
that any such amalgamation or reorganisation will not have an adverse effect on Lessor’s or the Guarantor’s ability to perform its obligations under the Transaction Documents or on the rights of Lessor, the Security Trustee or the Lenders
under the Transaction Documents to which Lessee is a party, the Assignment or the Mortgage unless during or because of such amalgamation or reorganisation Lessee or the Guarantor becomes or is declared insolvent and (Y) in the case of any non
bona fide petition or action referred to in (i)(i) above taken by a creditor or creditors of Lessee or the Guarantor, Lessor is satisfied (acting reasonably) that each of Lessee or the Guarantor, as applicable, is using its best endeavours to
dismiss any such petition or action and the same is dismissed or discharged within sixty (60) days; or 
  

	(j)	     

  

	 	(i)	an administrative or other receiver or manager is appointed in respect of Lessee or the Guarantor or any part of its assets; or 

 

	 	(ii)	Lessee or the Guarantor requests any person to appoint such a receiver or manager; or 

 

	 	(iii)	any other steps are taken to enforce any Security Interest over all or any part of the assets of Lessee or the Guarantor; or 

 

	 	(iv)	any attachment, sequestration, requisa, distress or execution affects any assets of Lessee or the Guarantor and is not discharged within 14 days or where Lessor
is satisfied (acting reasonably) that Lessee or the Guarantor is using its best endeavours to discharge the same, within sixty (60) days; or 

  
 112

	(k)	there occurs in relation to Lessee or the Guarantor any event anywhere which, in the reasonable opinion of Lessor, corresponds with any of those mentioned in paragraphs
(h), (i) or (j); or 

  

	(l)	Lessee or the Guarantor suspends or ceases or threatens to suspend or cease to carry on all or a substantial part of its business; or 

 

	(m)	Lessee breaches the provisions set out in Appendix 10 paragraph 4 and/or the Guarantor breaches the provisions set out in clause 8.1 of the Guarantee; or

  

	(n)	Lessee or the Guarantor or any other person claiming by or through Lessee or the Guarantor challenges the property rights of Lessor as owner and lessor in respect of
the Aircraft or the security interests of the Security Trustee and the Lenders as mortgagee and as assignee under the Mortgage and the Assignment; or 

  

	(o)	any event or series of events occurs (including, without limitation, any litigation, arbitration or administrative proceedings are commenced against Lessee or the
Guarantor which, if adversely determined would have a material adverse effect on Lessee’s or the Guarantor’s ability to comply with its obligations under the Transaction Documents) which, in the reasonable opinion of Lessor might have a
material adverse effect on the ability of Lessee or the Guarantor to comply with its obligations under any of the Transaction Documents to which it is a party; or 

 

	(p)	any event of default (howsoever defined) is continuing beyond any applicable grace period under any Other Agreement; or 

 

	(q)	     

  

	 	(i)	the issuer of any Letter of Credit fails to make a payment under such Letter of Credit when due; or 

 

	 	(ii)	any Letter of Credit is not in full force and effect, or for any reason ceases to constitute the legal, valid and binding obligations of the issuer of such Letter of
Credit; or 

  

	 	(iii)	the occurrence of the event listed in paragraph (g)(i) above, with respect to the performance by the issuer of such Letter of Credit of its obligations under the
relevant Letter of Credit; and/or (y) paragraphs (h), (i), (j) or (k) above apply to the issuer of the relevant Letter of Credit (references in those paragraphs to Lessee being deemed to be to the issuer of such Letter of Credit);
and/or (z) the issuer of such Letter of Credit ceases or suspends its business operations; or 

  

	 	(iv)	the relevant Letter of Credit is not renewed within the time period specified in paragraph 2 of Appendix 5, 

unless, in the case of paragraphs (q)(ii), (iii) and (iv) above, the relevant Letter of Credit is replaced by a new Letter of
Credit complying with the requirements set out in paragraph 2 of Appendix 5 or with cash in an amount equal to the Deposit, in each case, pursuant to and in accordance with the provisions of this Agreement, and each reference in this paragraph
(q) to “the issuer” shall include a reference to any confirming bank for the Letter of Credit (if applicable); or 
  

	(r)	any air traffic control authority (or any authority on their behalf) or any other authority or airport notifies Lessor that there are navigation, landing, airport or
similar charges due from Lessee, and such charges remain outstanding for a period of thirty (30) days from the date of such notice or such longer period for payment specified in such notice provided however that the failure to pay the same
would give rise to the likelihood of a sale, forfeiture, detention or other loss of the Aircraft or an interest therein or to civil or criminal liability on Lessor, the Security Trustee or any Lender. 

  
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 APPENDIX 9 
 PART 2 
  

	1	Rights 

 If an Event of
Default occurs, Lessor may at its option (and without prejudice to any of Lessor’s other rights under this Agreement) at any time thereafter: 
  

	(a)	accept such repudiation and by notice to Lessee and with immediate effect terminate the letting of the Aircraft (but without prejudice to the continuing obligations of
Lessee under this Agreement), whereupon all rights of Lessee under this Agreement shall cease; and/or 

  

	(b)	proceed by appropriate court action or actions to enforce performance of this Agreement or to recover damages for breach of this Agreement; and/or

  

	(c)	either: 

  

	 	(i)	take possession of the Aircraft, for which purpose Lessor may enter any premises belonging to or in the occupation of or under the control of Lessee where the Aircraft
may be located, or cause the Aircraft to be redelivered to Lessor at Dublin Airport, Ireland (or such other location as Lessor may require); or 

  

	 	(ii)	by serving notice require Lessee to redeliver the Aircraft to Lessor at Dublin Airport, Ireland (or such other location as Lessor may require).

  

	2	Deregistration 

 If an
Event of Default occurs, Lessor may sell or otherwise deal with the Aircraft as if this Agreement had never been made and Lessee will at the request of Lessor take all steps necessary to effect (if applicable) deregistration of the Aircraft and its
export from the country where the Aircraft is for the time being situated and any other steps necessary to enable the Aircraft to be redelivered to Lessor in accordance with this Agreement. 

 

	3	Default Payments 

 If:

  

	(a)	an Event of Default occurs, and/or the Aircraft is not redelivered on the Expiry Date or the Aircraft is not delivered to and accepted by Lessee on the Scheduled
Delivery Date, other than as a result of any default by Lessor (save where such default arises as a result of any act, omission or default of Lessee or any Manufacturer and/or maintenance contractor). Lessee will indemnify Lessor on demand against
any loss (including loss of profit), damage, expense, cost or liability which Lessor may sustain or incur directly or indirectly as a result including but not limited to (but without duplication of amounts referred to in (i) to
(iv) below): 

  

	 	(i)	any loss of profit suffered by Lessor because of Lessor’s inability to place the Aircraft on lease with another lessee on terms as favourable to Lessor as this
Agreement or because whatever use, if any, to which Lessor is able to put the Aircraft upon its return to Lessor, or the funds arising upon a sale or other disposal of the Aircraft, is not as profitable to Lessor as this Agreement;

  

	 	(ii)	any amount of principal, interest, fees or other sums whatsoever paid or payable on account of additional funds borrowed in order to carry any unpaid amount;

  

	 	(iii)	any loss, premium, penalty or expense which may be incurred in repaying funds raised to finance the Aircraft or in unwinding any swap, forward interest rate agreement
or other financial instrument relating in whole or in part to Lessor’s financing of the Aircraft; and 

  
 114

	 	(iv)	any loss, cost, expense or liability actually sustained or incurred by Lessor owing to Lessee’s failure to redeliver the Aircraft on the date, at the place and in
the condition required by this Agreement; and 

  

	(b)	Lessor will use reasonable endeavours to mitigate any loss, damages, cost or expenses incurred by it as a result of the foregoing. 

  
 115

 APPENDIX 10 
 ASSIGNMENT AND TRANSFER 
  

	1	Security Interest 

 Lessee
will not assign, or create or permit to exist any Security Interest over any of its rights under this Agreement. 
  

	2	Lessor Assignment 

  

	(a)	Lessor shall, in connection with the financing of the Aircraft, be entitled to assign all or any of its rights under any of the Transaction Documents by way of
security. 

  

	(b)	Lessor may at any time assign all or any of its rights under the Transaction Document by way of security to any new or replacement lenders as contemplated by paragraph
4.6 of Appendix 6 of this Agreement provided that no such assignment by way of security shall impose on Lessee any additional obligation or liability, including, without limitation, Taxes, which exceeds the obligations or liabilities which would
have existed had such assignment not been made save where such obligation or liability arises due to a change in law or the interpretation or application of any law after the date of such assignment and save that Lessee’s indemnity obligations
under this Agreement shall not be deemed to be increased merely as a consequence of including any new or replacement lenders or security trustee in the list of Indemnitees. For the avoidance of doubt, the provisions of this paragraph 2(b) shall not
apply to any changes in Lenders or any other parties to the Loan Agreement made pursuant to and in accordance with the provisions of the Loan Agreement. 

  

	(c)	Lessor may assign all or any of its rights absolutely (otherwise than by way of security) under this Agreement and in the Aircraft to any Permitted Transferee provided
that Lessor will have no further obligations under this Agreement following such assignment (except any liability and obligations in respect of any retained rights) but, notwithstanding that assignment, will remain entitled to the benefit of each
indemnity under, and subject to the terms of, this Agreement. Lessee will comply with all reasonable requests of Lessor, its successors and assigns in respect of any assignment referred to above. Lessor will promptly notify Lessee of any assignment.
No such assignment shall impose on Lessee any additional obligation or liability, including, without limitation, Taxes, which exceeds the obligations or liabilities which would have existed had such assignment not been made save where such
obligation or liability arises due to a change in law or the interpretation or application of any law after the date of such assignment and save that Lessee’s indemnity obligations under this Agreement shall not be deemed to be increased merely
as a consequence of including the Permitted Transferee (and its related indemnitees as per the definition of “Indemnitee” set forth in Schedule 1 hereto) in the list of Indemnitees. 

 

	3	Lessor Transfer 

 Lessee
agrees that Lessor may at any time during the Term transfer its rights and obligations under this Agreement to any Permitted Transferee and upon completion of any such transfer Lessor will be released from and will have no further obligation under
this Agreement (except any liability and obligations in respect of any retained rights). Lessee will promptly execute all documents reasonably requested by Lessor to effect, perfect, record or implement any such transfer, and will promptly comply
with any other reasonably requests of Lessor, its successors and assigns in respect of any such transfer (including, without limitation, the execution of any novation agreement between Lessor, Lessee and the Permitted Transferee). No such transfer
shall impose on Lessee any additional obligation or liability, including, without limitation, Taxes, which exceeds the obligations or liabilities which would have existed had such transfer not been made save

  
 116

 
where such obligation or liability arises due to a change in law or the interpretation or application of any law after the date of such transfer and save that Lessee’s indemnity obligations
under this Agreement shall not be deemed to be increased merely as a consequence of including the Permitted Transferee (and its related indemnitees as per the definition of “Indemnitee” set forth in Schedule 1 hereto) in the list of
Indemnitees. 
 For the purposes of paragraphs 2 and 3 above, references to “law” includes any law which at the date of
the assignment or transfer, as the case may be, has been enacted but is not yet in force. 
  

	4	Lessee Transfer and Change of Control 

  

	(a)	Lessee shall not convey, transfer, lease or otherwise dispose of all or substantially all of its assets to any entity or person and/or assign or transfer its rights or
obligations (whether voluntarily or involuntarily, by merger or consolidation or by operation of law or otherwise) under this Agreement and/or the other Transaction Documents to which it is a party (each a “Lessee Disposal”) except
to a Successor Entity, and provided that the following conditions are satisfied: 

  

	 	(i)	such Successor Entity has a tangible net worth equal to or greater than the tangible net worth of Lessee immediately prior to such Lessee Disposal (determined in
accordance with Mexican GAAP or IFRS, whichever methodology is used by Lessee with respect to the preparation of its financial statements immediately prior to such Lessee Disposal); 

 

	 	(ii)	such Successor Entity’s obligations under this Agreement and the other Transaction Documents are guaranteed by the Guarantor or any Successor Entity thereof
(provided that the tangible net worth of such Successor Entity is equal to or greater than the tangible net worth of the Guarantor immediately prior to such transfer (determined in accordance with Mexican GAAP or IFRS, whichever methodology of
Guarantor with respect to the preparation of its financial statements immediately prior to such Lessee Disposal) in substantially the same form of the Guarantee; and 

 

	 	(iii)	where any such Lessee Disposal occurs other than in connection with a public offering of Lessee’s shares, the prior written consent of Lessor has been obtained
(which consent shall not be unreasonably withheld or delayed). 

  

	(b)	Lessee’s entitlement to effect a Lessee Disposal in accordance with paragraph (a) above, shall be further subject to the following conditions:

  

	 	(i)	Lessee shall give Lessor no less than thirty (30) days’ advance written notice of any proposed Lessee Disposal; 

 

	 	(ii)	Lessee and/or Successor Entity shall make such recordations and filings with any Government Entity as are reasonably necessary to evidence and/or perfect the right,
title and interest of Lessor and the Security Trustee in and to the Aircraft and the Transaction Documents; 

  

	 	(iii)	 the relevant Successor Entity shall either: (A) execute and deliver, or cause to be executed and delivered to Lessor an agreement in writing, in
form and substance satisfactory to Lessor and Security Trustee, which evidences the legal, binding and enforceable assumption by such Successor Entity of Lessee’s rights and obligations under this Agreement (or, if applicable, Guarantor’s
rights and obligations under the Guarantee) and/or the other Transaction Documents to which Lessee and/or Guarantor is a party; or (B) if the relevant Successor Entity, by operation of law becomes bound by this Agreement (or, if applicable, the
Guarantee) and the other Transaction Documents, such Successor Entity shall 

  
 117

	 	
deliver to Lessor an officer’s certificate confirming the same, and in each case Lessor shall have received a legal opinion in form and substance satisfactory to Lessor from independent
counsel satisfactory to Lessor; 

  

	 	(iv)	no Default shall have occurred and be continuing at the time of such Lessee Disposal or occur as a result of the same; 

 

	 	(v)	in connection with any Lessee Disposal, Lessee or the relevant Successor Entity shall pay all reasonable costs and expenses of Lessor and Security Trustee (including,
reasonable and documented legal fees and expenses) in relation to the evidencing and/or perfection of Lessor’s and the Security Trustee’s rights, title and interests in and to the Aircraft and the Transaction Documents; and

  

	 	(vi)	Lessee or the relevant Successor Entity shall provide such other evidence and/or enter into such documents reasonably requested by Lessor and Security Trustee in
connection with the evidencing and/or perfection of Lessor’s and the Security Trustee’s rights, title and interests in and to the Aircraft and the Transaction Documents. 

 

	(c)	For the purposes of this paragraph 4 of Appendix 10, “Successor Entity” means in relation to Lessee and the Guarantor, the surviving entity or person
formed by a consolidation or merger of any person with Lessee or Guarantor (as the case may be), provided that such surviving entity or person acquires all of the property, assets and stock of Lessee or the Guarantor (as applicable) and to whom the
rights and obligations of Lessee and/or the Guarantor under the relevant Transaction Documents may be transferred in accordance with the provisions of this Agreement or the Guarantee (as the case may be). 

 

	(d)	For the avoidance of doubt, the disposal by the shareholders of the Lessee of their respective shares (including any treasury shares which may be deemed to be held by
the Lessee) in the Lessee, including, without limitation, pursuant to a public offering shall not constitute a Lessee Disposal. 

  
 118

 EXHIBIT A 
 Part 1 
 ACKNOWLEDGEMENT OF ASSIGNMENT OF GUARANTEE 

 

	To:	HSH Nordbank AG, as Security Trustee 

 Amentum Aircraft Leasing No. Three Limited as Assignor 
 Airbus A320-200 aircraft bearing
manufacturer’s serial number 3543 
 The Guarantor acknowledges receipt of a notice (the “Notice”) of an assignment of
even date herewith (the “Assignment”) between the Assignor and the Security Trustee and of a copy of the Assignment. 
 Terms
and expressions defined or referred to in the Assignment (whether incorporated by reference to another document or otherwise) shall have the same meanings when used in this Acknowledgement. 

 

	1	In consideration of the payment to the Guarantor by the Security Trustee of ***** and of other good and valuable consideration, the receipt and sufficiency of
which the Guarantor acknowledges, the Guarantor confirms its agreement to the terms of the Assignment and irrevocably undertakes: 

  

	(a)	to pay all moneys that may be payable by it pursuant to the Guarantee in accordance with the terms of the Notice and the Guarantee; 

 

	(b)	that, if the Security Trustee issues to the Guarantor written notice (“Enforcement Notice”) stating that an Enforcement Event has occurred, the
Guarantor shall thereafter: 

  

	 	(i)	perform, observe and comply with all the Guarantor’s undertakings and obligations under the Guarantee in accordance with the terms thereof in the Security
Trustee’s favour and for the Security Trustee’s benefit and to the exclusion of the Assignor; 

  

	 	(ii)	if the Security Trustee so requests (and at no cost to the Guarantor, save where such Enforcement Event is attributable to an Event of Default (as defined in the
Operating Lease Agreement), enter into a Guarantee with the Security Trustee or the Security Trustee’s nominee on terms identical (mutatis mutandis) to the terms of the Guarantee; and 

 

	 	(iii)	not recognise the exercise by the Assignor of any of the Assignor’s rights and powers under the Guarantee unless and until requested to do so by the Security
Trustee and the Assignor confirms that the Guarantor shall not be in breach of its obligations under the Guarantee to the extent that the Guarantor complies with the provisions of this paragraph 1(c); and 

 

	(c)	to deliver to the Security Trustee a copy of any document, written information, notice, request or other communication given by it to the Assignor pursuant to the
Guarantee at the same time as to the Assignor. Such copy shall be notified to the Security Trustee in the manner set forth in the notice provisions of clause 9.12 of the Guarantee save that for this purpose the notice details of the Security Trustee
are: 

  

			
	Address:	  	Martensdamm 6
		  	24103 Kiel
		  	Germany
		
	Fax:	  	+49 431 900 6 12822
		
	Attention:	  	Restructuring / Transportation

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 119 

	2	Notwithstanding anything to the contrary in any Transaction Document, the Guarantor confirms that, without prejudice to any other persons constituting
“Indemnitees” as defined in the Operating Lease Agreement and subject to the relevant provisions of the Operating Lease Agreement, the Agent, the Security Trustee, the Arranger, the Lease Manager and any Lender constitute
“Indemnitees” under the Operating Lease Agreement and without prejudice to, and independent of, the Assignment and the Security Trustee’s rights thereunder, the Security Trustee on behalf of itself and each of the Agent, the Arranger,
the Lease Manager and, each Lender shall be entitled to rely on, make a claim directly under and/or otherwise enforce the Guarantee insofar as the relevant claim and/or other enforcement is in respect of the provisions of the Operating Lease
Agreement which are expressed to be in favour of such Indemnitees, as if the Guarantee had been granted in favour of the Indemnitees. 

 This Acknowledgement (and any non contractual obligations in connection with the same) is governed by, and shall be construed in accordance with the laws of England. 

 

			
	Yours faithfully	 	
		
	  
	 	
		
	  
	 	
		
	  
	 	 Date:            2011

	for and on behalf of	 	
	CONTROLADORA VUELA COMPAÑÍA DE AVIACIÓN S.A.P.I DE C.V.

  
 120

 EXHIBIT A 
 PART 2 
 ACKNOWLEDGEMENT OF ASSIGNMENT OF LEASE 

 

	To:	HSH Nordbank AG, as Security Trustee 

 Amentum Aircraft Leasing No. Three Limited as Assignor 
 Airbus A320-200 aircraft bearing
manufacturer’s serial number 3543 
 Lessee acknowledges receipt of a notice of assignment of even date herewith by the Assignor and
Security Trustee (“Notice”). In consideration of payment to Lessee by the Security Trustee and the Assignor of ***** and of other good and valuable consideration, receipt and sufficiency of which Lessee hereby acknowledges, Lessee
irrevocably agrees with the instructions contained in the Notice and as follows: 
  

	1	it confirms that any conditions required to be satisfied under clause 3.2 of the Operating Lease Agreement have been satisfied or unconditionally and irrevocably
waived by Lessee; 

  

	2	it shall pay all moneys that may be payable by it pursuant to the Operating Lease Agreement or any other Transaction Document to which the Lessee is a party and
shall perform its obligations, in each case in accordance with the terms of the Notice, the Operating Lease Agreement and the Transaction Documents; 

  

	3	it acknowledges and agrees that (a) prior to its receipt of an Enforcement Notice the Assignor shall, notwithstanding the assignment to the Security Trustee
contained in the Assignment, be entitled to exercise all rights relating to the Relevant Collateral subject to the terms of the Notice and the provisions of the Operating Lease Agreement and other Transaction Documents and (b) after receipt of
an Enforcement Notice the Assignor shall pay all moneys payable by it under or in relation to the Relevant Collateral to such account or accounts as the Security Trustee may from time to time designate and the Assignor shall cease to be entitled to
exercise any and all rights in or in relation to the Relevant Collateral and the Security Trustee shall exclusively be entitled to exercise any and all rights in or in relation to the Relevant Collateral in accordance with the provisions of the
Operating Lease Agreement and the Transaction Documents; 

  

	4	it hereby confirms that it consents to the terms of the Assignment, has not received notice of any interest of any third party in the Relevant Collateral or of
any security interest (howsoever called) in the Relevant Collateral except as created or contemplated by the Assignment and hereby confirms receipt of a copy of the Assignment; 

 

	5	notwithstanding anything to the contrary in any Transaction Document, Lessee confirms that, without prejudice to any other persons constituting
“Indemnitees” as defined in the Operating Lease Agreement and subject to the relevant provisions of the Operating Lease Agreement, the Agent, the Security Trustee, the Arranger, the Lease Manager and any Lender shall constitute
“Indemnitees” under the Operating Lease Agreement and the Security Trustee on behalf of itself and each of the Agent, the Arranger, the Lease Manager and each Lender shall be entitled to rely on all provisions of the Operating Lease
Agreement which are expressed to be in favour of such Indemnitees and to exercise all rights expressed to be granted to such parties thereunder in each case as if the same were set forth in full herein (subject to any limitations or conditions
contained therein); 

  

	6	it shall permit the Security Trustee to inspect the Aircraft on the same basis as set out in paragraph 2.3 of Appendix 6 and paragraph 4 of Appendix 8 of the
Operating Lease Agreement; and 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 121 

	7	it acknowledges the restrictions placed on the discretion of the Assignor pursuant to paragraph 3 of the Notice. 

Lessee confirms that it has received a copy of the Assignment together with such other documents and information as it has required in connection
therewith. 
  

	
	  

	
	  

	
	  

	for and on behalf of

 CONTROLADORA VUELA COMPAÑÍA DE AVIACIÓN S.A.P.I DE C.V. 
 Date:
             2011 

  
 122

 EXHIBIT B 
 FORM OF CERTIFICATE OF ACCEPTANCE 
 This Certificate of Acceptance relates to the operating
lease agreement (the “Agreement”) dated [—] 2011 and made between Amentum Aircraft Leasing No. Three Limited (the “Lessor”) and Concesionaria Vuela
Compañía de Aviación, S.A.P.I de C.V., (the “Lessee”) in respect of the one (1) Airbus A320-200 aircraft with manufacturer’s serial number 3543 and having two (2) IAE V2527E-A5 Engines with serial
numbers V12938 and V12972 installed thereon (as more particularly described in the Agreement as the “Aircraft”). 
 Unless
otherwise defined in this certificate, capitalised words and expressions used in this certificate shall have the same meanings as given to them in the Agreement. 
  

	1	The Aircraft has been delivered to us together with its Aircraft Documents on [—]. Delivery took place on that
date at [—], at [—] hours local time. 

  

	2	We confirm that we have inspected the Aircraft in accordance with the Pre-Delivery Procedure and the Aircraft meets all of the requirements necessary for us to
accept Delivery of it and that the Lessor has fully performed all of its obligations under the Agreement with respect to the Delivery and this Certificate of Acceptance constitutes conclusive proof of our unconditional and irrevocable acceptance of
the Aircraft under the Agreement. 

  

	3	We have no rights and/or claims against the Lessor with respect to the Delivery Condition of the Aircraft. 

 

	4	The Lessee confirms to the Lessor that, as at the time indicated above, being the Delivery Date: 

 

	(a)	the representations and warranties made by the Lessee in Part 1 of Appendix 3 to the Agreement remain true and correct; 

 

	(b)	no Default or Event of Default is continuing; 

  

	(c)	the Aircraft is insured as required by the Agreement; 

  

	(d)	Attached hereto as Annex 1 is the utilisation status of the Aircraft at Delivery; 

 

	(e)	[Save for the documents listed in Annex [—], the Lessee confirms that all documents listed in Part 3 of Appendix 7A of
the Agreement were delivered to it;] 

  

	(f)	Attached hereto as Annex [—] is a layout of passenger accommodation drawing showing the seating configuration of the
Aircraft on Delivery; 

  

	(g)	Attached hereto as Annex [—] is a list of emergency equipment delivered to Lessee on Delivery;

  

	(h)	Attached hereto as Annex [—] is a list of loose equipment delivered to Lessee on Delivery; [and]

  

	(i)	[Attached hereto as Annex [—] is a list of open items and discrepancies to be rectified on or before [—]]. 

  
 123

			
	CONCESIONARIA VUELA COMPAÑÍA DE AVIACIÓN, S.A.P.I DE C.V.
		
	By:	 	  

	Title:	 	  

		
	By:	 	  

	Title:	 	  

	
	Agreed and acknowledged
	
	AMENTUM AIRCRAFT LEASING NO. THREE LIMITED
		
	By:	 	  

	Title:	 	  

  
 124

 ANNEX 1 
 The utilisation status of the Aircraft at Delivery was as follows: 
 Airframe 

 

			
	 Aircraft Type
	  	
	 Manufacturer’s Serial Number
	  	
	 Aircraft Registration
	  	
	 Cabin Configuration
	  	
	 Total Flight Hours Since New
	  	
	 Total Cycles Since New
	  	

 Engines 
  

					
	 Position
	 	1	 	2
	 Engine Type
	 		 	
	 Serial Number
	 		 	
	 Total Flight Hours Since New
	 		 	
	 Total Cycles Since New
	 		 	

 APU 
  

			
	 APU Model
	  	
	 Serial Number
	  	
	 Total APU Hours
	  	
	 Total APU Cycles
	  	

 Landing Gear 
  

									
	 	  	LH Main
Landing Gear	  	Nose Landing
Gear	  	Centre body
Landing Gear	  	RH Main
Landing Gear
	 Part Number
	  		  		  		  	
	 Serial Number
	  		  		  		  	
	 Total Cycles
	  		  		  		  	

  
 125

 EXHIBIT C 
 PART 1 
 AIR TRAFFIC CONTROL LETTER 

 

	TO:	Servicios a la Navegación en el Espacio Aéreo Mexicano 

              2011 
 Dear Sirs

 One (1) Airbus A320-200 Aircraft MSN 3543 (the “Aircraft”) 
 In connection with an aircraft lease agreement dated 2011 between Amentum Aircraft Leasing No. Three Limited, (as lessor) (the “Lessor”) and Concesionaria Vuela
Compañía de Aviación, S.A.P.I de C.V., (as lessee) (the “Lessee”) (as may be amended, novated or supplemented from time to time) (the “Lease Agreement”), we hereby authorise you to issue to:

  

	(i)	the Lessor, at its address for notices being 28 Upper Mount Street, Dublin 2, Ireland (facsimile: +353 1 639 8118; Attention: Company Secretary); and

  

	(ii)	HSH Nordbank AG (as security trustee for certain financiers of the Aircraft) at its address for notices being Martensdamm 6, 24103 Kiel, Germany (facsimile: +49 431 900
6 12822; Attention: Restructuring / Transportation), 

 (together with the Lessee, the “Authorised Parties”),

 in each case upon their request, from time to time, a statement of account of all sums due by us to you, as at the date of each such request,
in respect of the Aircraft and any other aircraft operated by us. Any request which you receive from an Authorised Party shall not be construed by you as evidence that an Event of Default (under and as defined in the Lease Agreement) has occurred
and is continuing. 
 You shall only regard the authority herein in respect of an Authorised Party as having been revoked upon receipt of
written revocation signed by such Authorised Party and us confirming such revocation. 
  

	
	Yours faithfully
	
	  

	For and on behalf of

  

	
	CONCESIONARIA VUELA COMPAÑÍA DE AVIACIÓN, S.A.P.I DE C.V.

  
 126

 EXHIBIT C 
 PART 2 
 AIR TRAFFIC CONTROL LETTER 

 

	TO:	Servicios a la Navegación en el Espacio Aéreo Mexicano 

              2011 
 Dear Sirs

 One (1) Airbus A320-200 Aircraft MSN 3543 (the “Aircraft”) 

In connection with an aircraft lease agreement dated 2011 between Amentum Aircraft Leasing No. Three Limited (as lessor) (the “Lessor”) and Concesionaria
Vuela Compañía de Aviación, S.A.P.I de C.V., (as lessee) (the “Lessee”) (as may be amended, novated or supplemented from time to time) (the “Lease Agreement”), we hereby authorise you to issue
to: 
  

	(i)	the Lessor, at its address for notices being 28 Upper Mount Street, Dublin 2, Ireland (facsimile: +353 1 639 8118; Attention: Company Secretary); and

  

	(ii)	HSH Nordbank AG (as security trustee for certain financiers of the Aircraft) at its address for notices being Martensdamm 6, 24103 Kiel, Germany (facsimile: +49 431 900
6 12822; Attention: Restructuring / Transportation), 

 (together with the Lessee, the “Authorised Parties”),

 in each case upon their request, from time to time, a statement of account of all sums due by us to you, as at the date of each such request,
in respect of the Aircraft and any other aircraft operated by us. 
 You shall only regard the authority herein in respect of an Authorised
Party as having been revoked upon receipt of written revocation signed by such Authorised Party and us confirming such revocation. 
  

	
	Yours faithfully
	
	  

	
	  

	
	  

	For and on behalf of

	
	CONCESIONARIA VUELA COMPAÑÍA DE AVIACIÓN, S.A.P.I DE C.V.
	

  
 127

 EXHIBIT D 
 [TO BE GRANTED BEFORE A MEXICAN NOTARY PUBLIC IN SPANISH] 

DEREGISTRATION AND EXPORT POWER OF ATTORNEY 
 SPECIAL IRREVOCABLE POWER-OF-ATTORNEY FOR LAWSUITS AND COLLECTIONS AND FOR ACTS OF ADMINISTRATION IN FAVOUR OF EACH OF AMENTUM AIRCRAFT LEASING NO. THREE LIMITED, HSH NORDBANK AG, AND AMENTUM
CAPITAL LIMITED TO BE EXERCISED ON BEHALF OF THE GRANTOR OF SAID POWER OF ATTORNEY, CONCESIONARIA VUELA COMPAÑÍA DE AVIACIÓN, SOCIEDAD ANÓNIMA PROMOTORA DE INVERSIÓN DE CAPITAL VARIABLE ACCORDING TO THE
FOLLOWING 
 CLAUSES: 
  

	1	Mr. [                         
   ] in his capacity as LEGAL REPRESENTATIVE of CONCESIONARIA VUELA COMPAÑÍA DE AVIACIÓN, SOCIEDAD ANÓNIMA PROMOTORA DE INVERSIÓN DE CAPITAL VARIABLE (the “Lessee”), hereby grants in
favour of each of Amentum Aircraft Leasing No. Three Limited (the “Lessor”), HSH Nordbank AG and Amentum Capital Limited and each of their respective employees and representatives (with the right of substitution and re-substitution,
and with the right to revoke any substitution or re-substitution granted), acting jointly and severally as its true and lawful attorneys (each an “Attorney”), a SPECIAL POWER OF ATTORNEY IN AN IRREVOCABLE CHARACTER, as it is a
condition under a bilateral contract pursuant to the Lease Agreement entered into between Lessor and Lessee dated [—] 2011, (the “Lease”), in accordance with the provisions of
Article 2596 of the Civil Code for the Federal District and its related one of the Federal Civil Code and of the Civil Codes for all the States of the Mexican Republic in which this power of attorney shall be exercised, with general powers for
LAWSUITS AND COLLECTIONS and for ACTS OF ADMINISTRATION, under the terms of the first two paragraphs of Article 2554 and Article 2587 of the Civil Code for the Federal District and its related one of the Federal Civil Code and of the Civil Codes for
all the States of the Mexican Republic where this power shall be exercised, LIMITED WITH RESPECT TO ITS OBJECT, in order that, including, but not limited, each Attorney may, act on behalf of CONCESIONARIA VUELA COMPAÑÍA DE
AVIACIÓN, SOCIEDAD ANÓNIMA PROMOTARA DE INVERSION DE CAPITAL VARIABLE, and pursuant to the Laws of the United Mexican States carry out the necessary procedures, actions and proceedings to obtain the registration and cancellation of the
registration and export the aircraft which is subject to the Lease, being one (1) Airbus A320-200 aircraft with manufacturer’s serial number 3543 (the “Aircraft”), and the exportation of said Aircraft with any relevant
governmental or private authority or entity, including, without limitation, the General Direction of Civil Aviation, the Mexican Aeronautics Registry, the Secretaría de Hacienda y Crédito Público and the Sistema de
Administración Tributaria or before any other administrative or judicial authority in Mexico or in any other jurisdiction, or before any customs broker, in order for each Attorney to: 

 

	(a)	release, terminate and void any and all interest of the Lessee in respect of the Aircraft; 

 

	(b)	deregister and/or consent to the transfer (to any registry inside or outside Mexico or such other jurisdiction in which the Aircraft is, for the time being, registered)
of the registration of the Aircraft and all other engines, accessories or items in use at the time of such transfer thereon or therein or otherwise held or used in substitution or replacement therefor in whatsoever manner, such transfer to be on
such terms and conditions as may be determined by the Attorney in its absolute discretion; 

  

	(c)	 represent the Lessee wheresoever and whatsoever in all matters and affairs in connection with the registration, deregistration or re-registration of
the Aircraft (including on the 

  
 128

	 	
aircraft register maintained, for the time being, by the Mexican Aeronautics Registry (Registro Aeronáutico Mexicano) and the Dirección General de Aeronáutica
Civil) and/or any interest of the Lessee registered in any personal property security register; 

  

	(d)	remove the Aircraft from Mexico or any other jurisdiction and to submit a report to and apply for and obtain permits, licences or approvals from any governmental
authorities of Mexico (including, without limitation, the Mexican Aeronautics Registry (Registro Aeronáutico Mexicano) and the Dirección General de Aeronáutica Civil) or any such other jurisdiction with respect to
any of the above matters so that the Attorney is empowered to do and perform all things which the Lessee is now or would hereafter be entitled and empowered to do and perform, without any exception, in relation to those matters, all for the account
of the Lessee; 

  

	(e)	sign, seal (if appropriate), deliver, execute or otherwise perfect any and all documents, agreements, applications, consents or other instruments of whatsoever nature
as the Attorney considers in its absolute discretion necessary or desirable in connection with any or all of the matters referred to in (a) to (d) inclusive above; and 

 

	(f)	request any and all information with respect to registration status, servicing fees, taxes or any other type of payment status related to any procedures, process,
lawsuits, including without limitation, judicial or administrative, which may be necessary to be obtained by each Attorney in connection with the Lease, the Aircraft, any of its engines or its related equipment thereto, from the Dirección
General de Aeronáutica Civil (DGAC), Registro Aeronáutico Mexicano (RAM) and Servicios a la Navegación en el Espacio Aéreo Mexicano, (SENEAM). 

 

	2	Each Attorney is authorised to delegate to such person or persons as it may choose the exercise of any or all of the powers conferred on such Attorney hereunder.

  

	3	In this Power of Attorney words and expressions defined in the Lease shall have the same meanings when used in this Power of Attorney. 

 

	4	The powers conferred by the Lessee in this Power of Attorney are irrevocable pursuant Article 2596 of the Civil Code for the Federal District and its related one
of the Federal Civil Code and of the Civil Codes for all the States of the Mexican Republic in which this power of attorney shall be exercised, and unconditional and are granted for value and secure proprietary interests, as a condition to a
bilateral agreement as stated in paragraph 1 above, in and the performance of obligations owed to the respective donees and shall not terminate unless and until all obligations owing by the Lessee to the Lessor in relation to the Aircraft have been
irrevocably discharged in full in writing by Lessor and any and all amounts outstanding, or which may become outstanding, in relation to the Aircraft from the Lessee to the Lessor. 

 

	5	No failure or delay on the part of any Attorney to exercise, and no delay in exercising any right, power or privilege under this Power of Attorney shall operate
as a waiver thereof, nor shall the exercise of any right, power or privilege under this Power of Attorney preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 

 

	6	The powers as set out in this Power of Attorney shall become effective in accordance with the provisions hereof from the date hereof. 

 

	7	Any person dealing with an Attorney shall not be required to make any determination or require any further evidence as to whether the Attorney’s rights
hereunder have become exercisable. 

 Concesionaria Vuela Compañía de Aviación, S.A.P.I de C.V. has executed
this Power of Attorney as a deed on              2011. 

  
 129

 EXHIBIT E 
 QUIET ENJOYMENT LETTER 
  

			
	From:	  	HSH Nordbank AG
		
	To:	  	Concesionaria Vuela Compañía de Aviación, S.A.P.I de C.V.
		  	Av. Prolongación Paseo de la Reforma 490 Piso 1,
		  	Col. Santa Fe Pena Blanca,
		  	01210 Mexico

 Dated:              2011 

Dear Sirs 
 One Airbus A320-200 Aircraft
Manufacturer’s Serial Number 3543 
  

	1	We refer to the aircraft lease agreement dated [—] 2011 between Amentum Aircraft Leasing No. Three Limited (the
“Lessor”) and Concesionaria Vuela Compañía de Aviación S.A.P.I de C.V. (the “Lessee”) in respect of the leasing of one Airbus A320-200 aircraft with manufacturer’s serial number 3543 (the
“Aircraft”) (the “Lease”). 

  

	2	Words and expressions defined in the Lease shall, unless the context otherwise requires, have the same meanings where used in this letter.

  

	3	In consideration of the Lessee agreeing to enter into the acknowledgement of assignment of the Lease pursuant to a borrower security assignment dated on or about
the date hereof between the Lessor (as assignor) and HSH Nordbank AG (as assignee) in relation to the Aircraft (the “Borrower Security Assignment”), we hereby undertake that, so long as no Event of Default has occurred and is
continuing, neither we (nor anyone lawfully claiming through us) will interfere with the Lessee’s right to quiet use and possession of the Aircraft during the Term. The exercise by us of our rights under, or in connection with, the Lease or any
of the other Assigned Documents (as defined in the Borrower Security Assignment) to which the Lessee is a party in accordance with the terms of the Lease or such other Assigned Document, will not constitute such interference.

  

	4	The foregoing undertaking is not to be construed as restricting any of our rights as Security Trustee (i) to sell or otherwise dispose of the Aircraft to
such persons and on such terms as we consider appropriate (subject to any requirements or restrictions imposed by applicable law and subject, unless an Event of Default has occurred and is continuing, to the Lease and other Transaction Documents),
or (ii) (as assignee of the Lessor’s rights under the Lease) to enforce, in accordance with the provisions of the Lease and the other Transaction Documents, any of the Lessor’s rights under the Lease which are exercisable prior to the
occurrence of an Event of Default which is continuing. 

  

	5	The rights conferred by this letter are granted only to the Lessee and do not extend to any assignee or sub-lessee of the Lessee. 

 

	6	This letter shall be governed by, and construed in accordance with, the laws of England. 

  
 130

 Please acknowledge your agreement to the terms of this letter by counter-signature below. 

 

	
	Yours faithfully
	
	  

	For and on behalf of

	
	HSH NORDBANK AG (as Security Trustee)

	
	
	Agreed and accepted
	
	  

	
	  

	
	  

	For and on behalf of

	
	CONCESIONARIA VUELA COMPAÑÍA DE AVIACIÓN, S.A.P.I DE C.V.

  
 131

 EXHIBIT F 
 FORM OF MONTHLY REPORT 
  

			
	To:	  	Amentum Aircraft Leasing No. Three Limited
		
	From:	  	Concesionaria Vuela Compañía de Aviación, S.A.P.I de C.V.
		
	Aircraft:	  	Airbus A320-200 Aircraft
	
	Manufacturer’s Serial Number 3543
		
	Month of:	  	

 AIRFRAME 
  

	
	 Aircraft Total Flight Hours Since New:

	
	 Aircraft Total Cycles Since New:

	
	 Airframe Flight Hours Operated During Month:

	
	 Airframe Cycles Operated During Month:

	
	 Time Remaining to **     Check:

 ENGINES 
  

							
	Engine Serial Number:	  		  	Engine Serial Number:	  	
				
	New Aircraft MSN (if applicable):	  		  	New Aircraft MSN (if applicable):	  	
				
	Original Position:	  		  	Original Position:	  	
				
	Actual Location:	  		  	Actual Location:	  	
				
	Total Flight Hours Since New:	  		  	Total Flight Hours Since New:	  	
				
	Total Cycles Since New:	  		  	Total Cycles Since New:	  	
				
	Flight Hours During Month:	  		  	Flight Hours During Month:	  	
				
	Cycles During Month:	  		  	Cycles During Month:	  	
				
	Average Engine Derate During Month:	  		  	Average Engine Derate During Month:	  	

 Exact Flight Hours and Cycles since new of the Engine and the Airframe at the moment of removal/installation of Engine
during the month are to be recorded. 
 Note: If an Engine is removed or installed on another Aircraft (subject to the provisions of the
Agreement) it must be reported monthly on this form. 
 APU 

 

	
	 APU Serial Number:

	
	 Original Position:

	
	 Total Flight Hours Since New:

	
	 Total Cycles Since New:

	
	 Flight Hours Operated During Month:

	
	 Cycles Operated During Month:

  
 132

 Exact Flight Hours and Cycles since new of the APU and the Airframe at the moment of removal/installation of
the APU during the month are to be recorded. 
  

									
	 Landing Gear:
	  	Flight Hours
Since Overhaul:	  	Flight Hours
Since New:	  	Cycles Since
Overhaul:	  	Cycles Since
New:
	 RH Main:
	  		  		  		  	
					
	 Central Main:
	  		  		  		  	
					
	 LH Main:
	  		  		  		  	
					
	 Nose:
	  		  		  		  	

 Exact Flight Hours and Cycles since new of the Landing Gear and the Airframe at the moment of removal/installation of the
Landing Gear during the month are to be recorded. 
 Details of any engineering modifications or changes during the month: 

  
  

	
	  

  
   

 

	
	  

 Details of any Service Bulletins and Airworthiness Directives accomplished for during the month: 

  
  

	
	  

  
  

 

	
	  

 Details of any routine checks (A check and above) or replacement of major items (Engine, APU, Landing Gear) performed
during the month: 
   

 

	
	  

  
  

 

	
	  

  
 133

 Details of any incident, accident and damage to the Aircraft during the month: 

  
  

	
	  

  
  

 

	
	  

 Details of any upcoming major upcoming maintenance event (C and above, major modification or replacement of major items
as Engine, APU, Landing Gear) scheduled for the next 12 months: 
  

 

	
	  

  
  

 

	
	  

 Details of any claims under the Airframe Warranties or the Engine Warranties under *****: 

 
  

	
	  

  
  

 

	
	  

  

			
	Concesionaria Vuela Compañía de Aviación, S.A.P.I de C.V.

			
		
	Name:	 	  

		
	Title:	 	  

		
	Date:	 	  

		
	Name:	 	  

		
	Title:	 	  

		
	Date:	 	  

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 134 

 EXHIBIT G 
 [TO BE GRANTED BEFORE A MEXICAN NOTARY PUBLIC IN SPANISH] 
 PROCESS AGENT
POWER OF ATTORNEY (LESSEE) 

Mr. [                        
    ], in his capacity as Legal Representative of Concesionaria Vuela Compañía de Aviación, S.A.P.I de C.V., hereby grants in favour
of                             , with address at
                             [            ],
[            ], a special power of attorney, in accordance with the provisions of Article 2596 of the Civil Code for the Federal District and its related one of the Federal Civil Code and
of the Civil Codes for all the States of the Mexican Republic, with general powers for LAWSUITS AND COLLECTIONS and for ACTS OF ADMINISTRATION, under the terms of the first two paragraphs of Article 2554 and Article 2587 of the Civil Code for the
Federal District and its related one of the Federal Civil Code and of the Civil Codes for all the States of the Mexican Republic, but as broad as required by law to be exercised in any jurisdiction, in order to receive, in the name and on behalf of
Concesionaria Vuela Compañía de Aviación, S.A.P.I de C.V., any and all notifications, service of process and in general any type of documents, related to any procedures, process, lawsuits, including without limitation, judicial,
administrative or arbitration procedures, in connection with the Lease Agreement to be entered into by and between Amentum Aircraft Leasing No. Three Limited and Concesionaria Vuela Compañía de Aviación, S.A.P.I de C.V., or any
other document derived or related therewith, including to one (1) Airbus A320-200 with manufacturer’s serial number 3543 and to all and any other document related therewith. 
 This power of attorney, although special, is granted in the broadest way permitted by law, in order that the attorney-in-fact may receive any notice and documentation related to the transactions described
above. 
 Concesionaria Vuela Compañía de Aviación, S.A.P.I de C.V. 

[                         
   ] 
 Legal Representative 

  
 135

 EXHIBIT H 
 [TO BE GRANTED BEFORE A MEXICAN NOTARY PUBLIC IN SPANISH] 
 PROCESS AGENT
POWER OF ATTORNEY (GUARANTOR) 

Mr. [                        
    ], in his capacity as Legal Representative of Controladora Vuela Compañía de Aviación, S.A.P.I de C.V., hereby grants in favour of
                            , with address at
                             [            ],
[            ], a special power of attorney, in accordance with the provisions of Article 2596 of the Civil Code for the Federal District and its related one of the Federal Civil Code and
of the Civil Codes for all the States of the Mexican Republic, with general powers for LAWSUITS AND COLLECTIONS and for ACTS OF ADMINISTRATION, under the terms of the first two paragraphs of Article 2554 and Article 2587 of the Civil Code for the
Federal District and its related one of the Federal Civil Code and of the Civil Codes for all the States of the Mexican Republic, but as broad as required by law to be exercised in any jurisdiction, in order to receive, in the name and on behalf of
Controladora Vuela Compañía de Aviación, S.A.P.I de C.V., any and all notifications, service of process and in general any type of documents, related to any procedures, process, lawsuits, including without limitation, judicial,
administrative or arbitration procedures, in connection with the Guarantee to be entered into by and between Amentum Aircraft Leasing No. Three Limited and Concesionaria Vuela Compañía de Aviación, S.A.P.I de C.V., or any other
document derived or related therewith, including to one (1) Airbus A320-200 with manufacturer’s serial number 3543 and to all and any other document related therewith. 
 This power of attorney, although special, is granted in the broadest way permitted by law, in order that the attorney-in-fact may receive any notice and documentation related to the transactions described
above. 
 Controladora Vuela Compañía de Aviación, S.A.P.I de C.V. 

[                         
   ] 
 Legal Representative 

  
 136EX-10.34

 Exhibit 10.34 
 Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality request. Omissions are designated as [*****]. A
complete version of this exhibit has been filed separately with the Securities and Exchange Commission. 
 Execution Form

  
  

ENGINE LEASE 
 COMMON TERMS AGREEMENT 
  

 
 DATED AS OF 28
JUNE, 2007 
 BETWEEN 
 GE COMMERCIAL AVIATION SERVICES LIMITED 
 And 

CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 

 CONTENTS 

 

							
	SECTION	  	PAGE	 
			
	 1.
	 	 INTERPRETATION
	  	 	3	  
	 2.
	 	 REPRESENTATIONS AND WARRANTIES
	  	 	4	  
	 3.
	 	 CONDITIONS PRECEDENT
	  	 	4	  
	 4.
	 	 COMMENCEMENT
	  	 	4	  
	 5.
	 	 PAYMENTS
	  	 	5	  
	 6.
	 	 MANUFACTURER’S WARRANTIES
	  	 	15	  
	 7.
	 	 LESSOR’S COVENANTS
	  	 	16	  
	 8.
	 	 LESSEE’S COVENANTS
	  	 	17	  
	 9.
	 	 INSURANCE
	  	 	25	  
	 10.
	 	 INDEMNITY
	  	 	27	  
	 11.
	 	 EVENTS OF LOSS
	  	 	28	  
	 12.
	 	 RETURN OF ENGINES
	  	 	29	  
	 13.
	 	 DEFAULT
	  	 	31	  
	 14.
	 	 TRANSFER
	  	 	35	  
	 15.
	 	 MISCELLANEOUS
	  	 	36	  
	 16.
	 	 DISCLAIMERS AND WAIVERS
	  	 	40	  
	 17.
	 	 BROKERS AND OTHER THIRD PARTIES
	  	 	41	  

							
	 Schedule 1
	  	 Definitions
	  	 	43	  
	 Schedule 2
	  	 Representations and Warranties
	  	 	51	  
	 Schedule 3
	  	 Conditions Precedent
	  	 	53	  
	 Schedule 4
	  	 Pre-Delivery Procedures and Delivery Condition
	  	 	57	  
	 Schedule 5
	  	 Certificate of Acceptance
	  	 	58	  
	 Schedule 6
	  	 Procedures and Operating Condition at Redelivery
	  	 	60	  
	 Schedule 7
	  	 Insurance Requirements
	  	 	67	  
	 Schedule 8
	  	 Form of Lessee’s Legal Opinion
	  	 	71	  
	 Schedule 9
	  	 Events of Default
	  	 	74	  
	 Schedule 10
	  	 Form of Incident Statement
	  	 	78	  
	 Schedule 11
	  	 Recognition of Rights Agreement
	  	 	81	  
	 Schedule 12A
	  	 Form of Power of Attorney
	  	 	82	  
	 Schedule 12B
	  	 Form of Irrevocable Deregistration and export request Authorisation
	  	 	84	  
	 Schedule 13
	  	 Process Agent Power of Attorney
	  	 	85	  

  
 2 

 ENGINE LEASE 
 COMMON TERMS AGREEMENT 
 THIS COMMON TERMS AGREEMENT (this “CTA”)
is made as of June     , 2007 BETWEEN: 
  

	(1)	GE COMMERCIAL AVIATION SERVICES LIMITED (“GECAS”); and 

  

	(2)	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. (“Lessee”). 

 WHEREAS: 
  

	(A)	From time to time, Lessee or one of its Affiliates may wish to lease commercial aircraft engines and related equipment from GECAS or one of its Affiliates, and GECAS or
one of its Affiliates may wish to lease commercial aircraft engines and related equipment to Lessee or one of its Affiliates; 

  

	(B)	Each party hereto wishes to provide in one document for certain common terms and conditions, as hereinafter provided in this CTA, that will be applicable, unless
otherwise stated, to each such lease referred to in Recital (C); and 

  

	(C)	Each such lease transaction will be concluded only on the terms of an agreement entitled “Engine Lease Agreement,” which together with this CTA (which will be
incorporated into and become part of such Engine Lease Agreement), will constitute the Lease for the applicable Engine including such related equipment as identified therein, and will also constitute an International Interest within the meaning of
the Cape Town Convention recordable at the International Registry, as and to the extent such convention is applicable thereto. 

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

	1.	INTERPRETATION 

  

	1.1	Definitions 

 In the
Lease, capitalized words and expressions are defined in Schedule 1 (Interpretation) or in the Engine Lease Agreement, and the Lease shall be construed in accordance with such Schedule 1 and the Engine Lease Agreement.

  

	1.2	Construction 

  

	 	(a)	In the Lease, unless otherwise stated, a reference to: 

  

	 	(i)	“Lessor,” “Lessee,” “GECAS,” “Owner” or any other Person includes any of their successors and permitted assignees;

  

	 	(ii)	plural concepts shall include the singular and vice versa; 

  

	 	(iii)	any document (except this CTA, unless Lessor and Lessee otherwise expressly agree) shall include any changes to that document and any replacement for it;

  

	 	(iv)	a Section or a Schedule is a reference to a section of or a schedule to this CTA or the Engine Lease Agreement as so indicated; 

  
 3 

	 	(v)	any Regulation shall include any changes to that Regulation and any replacement for it; 

 

	 	(vi)	an obligation of a Person refers to any obligation that Person has under or in relation to the Lease; 

 

	 	(vii)	“includes,” “including”, “include” or similar terms shall not be construed as limiting and shall mean “including, without
limitation”; and 

  

	 	(viii)	in the event of a conflict between the provisions of the Engine Lease Agreement and the provisions of this CTA, the provisions of the Engine Lease Agreement shall
control. 

  

	 	(b)	Headings to Sections and Schedules in the Lease are not intended to affect their meaning. 

 

	2.	REPRESENTATIONS AND WARRANTIES. 

  

	2.1	Lessee’s Representations and Warranties. 

  

	 	(a)	Lessee hereby makes the representations and warranties set out in Section 1.1 of Schedule 2 (Representations and Warranties) as of the date of
execution of the Engine Lease Agreement and as of the Delivery Date thereunder, and Lessee understands that these statements must be true, both when the Engine Lease Agreement is executed and on the Delivery Date thereunder.

  

	2.2	Lessor’s Representations and Warranties. 

  

	 	(a)	Lessor hereby makes the representations and warranties set out in Section 1.2 of Schedule 2 (Representations and Warranties) as of the date of
execution of the Engine Lease Agreement and as of the Delivery Date thereunder, and Lessor understands that these statements must be true, both when the Engine Lease Agreement is executed and on the Delivery Date thereunder.

  

	3.	CONDITIONS PRECEDENT. Lessor need not deliver and start the leasing of the Engine under the Lease unless each of the Lessor Conditions Precedent is satisfied or
waived in writing by Lessor. If any of the Lessor Conditions Precedent is not satisfied, or waived by Lessor, on or before the Delivery Date and Lessor, in its absolute discretion, agrees to deliver the Engine to Lessee and to start the leasing of
the Engine, Lessee will ensure that such Lessor Condition Precedent is fulfilled within thirty (30) days after the Delivery Date, and Lessor may treat as an Event of Default the failure of Lessee to do so. Lessee need not accept and start the
leasing of the Engine under the Lease unless each of the Lessee Conditions Precedent is satisfied or waived in writing by Lessee. 

  

	4.	COMMENCEMENT 

  

	4.1	Leasing 

  

	 	(a)	Subject to Sections 3 (Conditions Precedent) and 4.4(Delayed Delivery), Lessor will lease that Engine to Lessee and Lessee will take that Engine on
lease for the Term, which shall commence on the Delivery Date, and which shall be evidenced by Lessee’s execution of (i) an Engine Lease Agreement for such Engine on or before the Delivery Date and (ii) any additional documents as
required by such Engine Lease Agreement. Lessor shall notify Lessee of the Scheduled Delivery Date in the Scheduled Delivery Month. 

  

	 	(b)	Lessee will be responsible for all risks associated with any loss of or damage to the Engine from the Rent Commencement Date until possession of the Engine is returned
to Lessor on the Return Occasion and Lessor executes and delivers to Lessee the acknowledgement contemplated by Section 12.4(Acknowledgement). 

  
 4 

	4.2	Pre-Delivery Procedure. Lessor and Lessee will follow the Pre-Delivery Procedure. 

 

	4.3	Delivery and Acceptance. After the Pre-Delivery Procedure has been completed and subject to Section 3 (Conditions Precedent):

  

	 	(a)	Lessor will tender delivery of the Engine to Lessee at the Delivery Location. 

 

	 	(b)	Lessee will accept the Engine and provide evidence of its acceptance by signing and delivering a Certificate of Acceptance to Lessor. 

Lessee’s acceptance of the Engine shall be regarded as absolute, unconditional and irrevocable. After Delivery, Lessee shall bear all
risk of loss for the Engine from any cause whatsoever. 
  

	4.4	Delayed Delivery. Lessor shall not be liable for any Losses suffered or incurred by Lessee, arising from or in connection with any delay in delivery or failure
to deliver the Engine (except to the extent such delay in delivery or failure to deliver the Engine is caused by Lessor’s gross negligence or willful misconduct). Lessor, may, but shall have no obligation to, tender delivery of any Engine to
Lessee after the Final Delivery Date if such Date is applicable under the Engine Lease Agreement. 

  

	5.	PAYMENTS 

  

	5.1	Deposit. Lessee shall pay Lessor any Deposit. 

  

	5.2	Rental Periods. The first Rental Period will start on the Rent Commencement Date and each subsequent Rental Period will start on the date immediately following
the last day of the previous Rental Period. Each Rental Period will end on the date immediately before the numerically corresponding day in the next month, except that: 

 

	 	(a)	if there is no numerically corresponding day in that month, it will end on the last day of that month; and 

 

	 	(b)	if a Rental Period would otherwise extend beyond the Expiry Date, it will end on the Expiry Date. 

 

	5.3	Rent 

  

	 	(a)	Time of Payment: Lessee will pay to Lessor or its order Rent in advance on each Rent Date. Lessor must receive value for the payment on each Rent Date. If a
Rental Period begins on a day which is not a Business Day, the Rent payable in respect of that Rental Period shall be paid on the Business Day immediately before that day. 

 

	 	(b)	Amount: The Rent payable during the Term shall be calculated in accordance with Schedule B of the Engine Lease Agreement. 

 

	5.4	Supplemental Rent; Maintenance Adjustment 

  

	 	(a)	 Amount: lf, under the Engine Lease Agreement, Lessee is required to pay Supplemental Rent or a Maintenance Adjustment or both, Lessee will pay
that Supplemental Rent and Maintenance Adjustment, at the rates referred to in the 

  
 5 

	 	
Engine Lease Agreement, to Lessor in relation to each calendar month (or part of a month) of the Term, on the fifteenth day following the end of that calendar month (except that the last payment
of Supplemental Rent during the Term shall be paid on the Expiry Date). 

  

	 	(b)	Adjustment: If, under the Engine Lease Agreement, Lessee is required to pay Supplemental Rent, the Supplemental Rent rates shall be adjusted after the Delivery
Date not more frequently than annually (with any such adjustment having retrospective application as appropriate to reflect the provisions of paragraphs (ii) and (iii) below) based on the following: 

 

	 	(i)	Annual Supplemental Rent Adjustment: by the Annual Supplemental Rent Adjustment, compounded annually commencing on the first anniversary of the Delivery Date.

  

	 	(ii)	Hour to Cycle Ratio Adjustment: Lessor and Lessee acknowledge that the Engine Supplemental Rent rate and the Engine LLP Supplemental Rent rate are based upon the
assumption that the Engine will operate on an Assumed Ratio. If that assumption proves to be incorrect at any time for any period of ***** consecutive months during the Term based upon Lessee’s actual operating experience during such *****, and
the hour to cycle ratio differs from the Assumed Ratio by more than ***** during such *****, (i) Lessor shall have the right, upon written notice to Lessee, to adjust the Engine Supplemental Rent rate and the Engine LLP Supplemental Rent rate
(in the case of a decrease in the ratio below the Assumed Ratio) and (ii) Lessor, upon written request from Lessee, will make that adjustment (in the case of an increase in the ratio above the Assumed Ratio). Any adjustment shall be based on a
table contained in the Engine Lease Agreement. Actual hour to cycle ratios may fall outside the ratios identified in that table. In that case, the actual values shall be determined by extrapolating the closest observed intervals in the table.

  

	 	(iii)	Engine-Thrust-Rating Adjustment: Lessor and Lessee acknowledge that any amounts of Engine Supplemental Rent payable by Lessee are based upon the assumption that
the Engines will operate at certain assumed engine thrust ratings. If that assumption proves to incorrect by more than ***** at any time for a period of ***** consecutive months during the Term based upon Lessee’s actual operating experience
during such ***** months, Lessor may make, and notify Lessee of, such adjustment as Lessor determines is necessary in its reasonable discretion to maintain the rates of Engine Supplemental Rent at levels which accurately reflect the costs associated
with obtaining relevant maintenance services at prevailing industry rates. 

  

	 	(iv)	Material Revision to Maintenance Program: If the Maintenance Program is materially revised, Lessor may make, following consultation with Lessee, an adjustment
(upwards or downwards as the case may be) which the parties, in good faith, determine is reasonable to maintain the Supplemental Rent at levels which accurately reflect the costs associated with obtaining relevant maintenance services at prevailing
industry rates. If the parties are unable to make such determination within thirty (30) days following the commencement of such consultation process, the same shall be submitted for review to an independent, internationally recognized
maintenance repair organization for determination and the parties shall he bound by such determination. 

  
 6 

	 	(c)	Lessor’s Property: Lessee acknowledges and agrees that Supplemental Rent is additional rent for the leasing of the Engine and not cash collateral or other
collateral security for Lessee’s maintenance obligations under the Lease. Once paid, all Supplemental Rent is the property of Lessor; without prejudice to Lessee’s rights to receive maintenance contributions pursuant to Section 7.2,
or its rights to receive the payments described in Section 5.12(d)(iv) in accordance with the provisions of such Section, and it is not refundable to Lessee under any circumstances whatsoever and Lessee has no interest therein whatsoever.

  

	 	(d)	Letter of Credit in Lieu of Cash Supplemental Rent: if Lessee is required to make payments of Supplemental Rent pursuant to the International Aircraft Lease
Agreement, then at Lessee’s request, Lessor shall consider with Lessee whether Lessor would be willing to accept Letter(s) of Credit from Lessee complying with Section 5.14 in lieu of requiring Lessee to make cash payments of Supplemental
Rent; provided no Default has occurred and is continuing, Lessor shall act reasonably in connection with such consideration and shall not refuse such request on an unreasonable basis. 

 

	5.5	Payments. All payments by Lessee to Lessor under the Lease will be made for value on the due date in Dollars and in immediately available funds by wire transfer
to the Lessor’s Account. 

  

	5.6	Withholding and Tax Credit 

  

	 	(a)	Withholding: Lessee must not deduct any amount from any of its payments under the Lease, for or on account of any Taxes, unless it is required by Law to do so,
in which case Lessee must: 

  

	 	(i)	deduct the minimum amount necessary to comply with the Law; 

  

	 	(ii)	pay Lessor an extra amount so that Lessor receives a net amount on the relevant payment date, that is equal to the amount that it would have received if the reduction
had not been made. The amount of any such payment to Lessor must take into account the tax treatment of that payment to Lessor applying the principles of Section 5.10(Indemnity Payments – After Tax Basis) such that Lessor shall be
in no worse position than it would have been if the deduction had not applied in the first place; 

  

	 	(iii)	pay the Tax to the relevant taxing authority according to relevant Law; and 

 

	 	(iv)	obtain a receipt (if one is available) from the relevant taxing authority and give it to Lessor. 

 

	 	(b)	Tax Credit: If Lessor, in good faith, determines that it has realized a tax benefit (by way of deduction, credit or otherwise) as a result of any payment which
Lessee has made under Section 5.6(a)(Withholding), Lessor shall pay to Lessee as soon as practicable after the tax benefit has been realized (but not before Lessee has made all payments and indemnities to Lessor required under this
Section), an amount which will ensure that (after taking account of the payment itself) Lessor is in no better and no worse position than it would have been if the deduction had not applied. 

Nothing in this Section 5.6(b) shall: 
  

	 	(i)	interfere with the right of Lessor to arrange its tax affairs in whatever manner it thinks fit; or 

 

	 	(ii)	oblige Lessor to disclose any information relating to its Tax affairs or any Tax computations. 

  
 7 

	5.7	Tax Indemnity 

  

	 	(a)	General: 

  

	 	(i)	Except as provided in Section 5.8 (Lessor Taxes), Lessee will on demand pay and indemnify each Tax Indemnitee against any and all Taxes levied or imposed
against or upon or payable by such Tax Indemnitee or Lessee and arising from, with respect to or in connection with the transactions pursuant to the Lease, including all Taxes relating or attributable to Lessee, the Lease or the Engine, directly or
indirectly, in connection with the importation, exportation, registration, ownership (but only to the extent relating to or attributable to or arising as a result of the possession, operation, use or maintenance of the Engine by Lessee), leasing,
subleasing, purchase, delivery, possession, use, operation, repair, maintenance, overhaul, transportation, landing, storage, presence or redelivery of the Engine or any part thereof or any rent, receipts, insurance proceeds, income, indemnification
payment or other amounts arising therefrom, or the making of any Equipment Change or the permanent replacement of any Engine. 

  

	 	(ii)	All Taxes indemnified pursuant to this Section 5.7(a) shall be paid by Lessee directly to the appropriate taxing authority (to the extent permitted by applicable
Law) at or before the time prescribed by applicable Law. 

  

	 	(iii)	Any amount payable by Lessee to a Tax Indemnitee pursuant to this Section 5.7(a) (General) shall be paid within ten days after receipt of a written demand
therefor from the relevant Tax Indemnitee accompanied by a written statement describing in reasonable detail the basis for such indemnity and the computation of the amount so payable. 

 

	 	(b)	Sales and Use Taxes: 

  

	 	(i)	Without limiting Section 5.7(a) (General) above, Lessee shall pay to Lessor (or, if permitted by applicable Law and if requested by Lessor, Lessee shall pay
to the relevant tax authority for the account of Lessor) all sales, use, rental, value added, goods and services and similar taxes (“Sales Taxes”) required to be paid to the tax authority of the jurisdiction in which the Delivery
Location is situated or to the jurisdiction of the Habitual Base or the State of Incorporation, or to the tax authority of any jurisdiction in which the Engine may be used, operated or otherwise located from time to time, with respect to the lease
of the Engine to Lessee, including any “supply” for Sales Tax purposes under the Lease, unless Lessee delivers to Lessor on or prior to the Delivery Date such exemption certificate or other document as may be required by applicable Law to
evidence Lessor’s entitlement to exemption from all Sales Taxes imposed by each such jurisdiction with respect to the lease of the Engine. 

  

	 	(ii)	Lessee will cooperate with Lessor in connection with the preparation and filing of any exemption application or similar document that is reasonably necessary or
desirable under applicable Law to avoid the imposition of any Sales Taxes with respect to the transactions contemplated by the Lease. 

  

	 	(iii)	The specific obligations with respect to sales and use taxes set forth in this Section 5.7(b) are in addition to, and are not in substitution for, Lessee’s
obligation to indemnify for sales and use taxes pursuant to Section 5.7(a) (General). 

  

	 	(c)	Lessee will also indemnify each Tax Indemnitee, on an After-Tax Basis, as set forth in the Section entitled “Special Tax Indemnity” in Schedule B of the
Engine Lease Agreement, and the provisions of Section 5.9 (Tax Contest and Information) shall apply thereto. 

  
 8 

	5.8	Lessor Taxes. Lessee is not required to indemnify any Tax Indemnitee under Section 5.7(a)(General) to the extent that the Tax arises because of:

  

	 	(i)	the gross negligence or wilful misconduct of such Tax Indemnitee or breach of the Lease or any other agreement delivered in connection herewith or therewith by such Tax
Indemnitee (except to the extent that such breach is attributable to the occurrence of a Default by Lessee); 

  

	 	(ii)	a Tax liability any Tax Indemnitee has which would have arisen even if the Lease had not been entered into; 

 

	 	(iii)	a Tax liability arising in connection with, charged on or calculated with respect to any Tax Indemnitee’s income, profits, gains, capital, net worth or capital
stock, or any franchise or similar Taxes imposed on any Tax Indemnitee by any Government Entity in a jurisdiction in which such Tax Indemnitee is organized, maintains an office or other fixed place of business or carries on business through a
permanent establishment; but excluding any Tax that is a sales tax or that is imposed by any government or taxing authority of any jurisdiction if and to the extent that such Tax results from (x) the use, operation, presence, registration or
location of the Engine or any Part in the jurisdiction imposing the Tax, or (y) the situs of organization, any place of business or any activity of Lessee or any other Person having use, possession or custody of the Engine or any Part in the
jurisdiction imposing the Tax; or 

  

	 	(iv)	a Tax liability with respect to any period or event occurring (x) prior to the Delivery Date or (y) after the Expiry Date and, in either case, unrelated to
Lessor’s dealings with Lessee or to the transactions contemplated by the Lease. 

  

	 	(v)	a Tax liability to the extent the same would not have arisen or been incurred but for the failure of a Tax Indemnitee to file proper and timely tax reports, returns,
declarations or other documents to the extent required of such Tax Indemnitee (except when such failure is due to Lessee’s failure to request the same and/or to provide timely and accurate information when requested by Lessor);

  

	 	(vi)	a Tax liability arising as a result of or in connection with any failure by a Tax Indemnitee to comply with any certification or other procedure required by governing
law of the jurisdiction imposing the Tax as a precondition to any exemption from, or reduction of, such Tax to which such Tax Indemnitee may be entitled, so long as (a) such Indemnitee is eligible to comply with such requirement, (b) such
procedure or compliance therewith would not expose such Tax Indemnitee to any risk of material adverse consequences and (c) Lessee provides such Tax Indemnitee with written notice of the relevant Tax and other the relevant certification or
procedure in sufficient time to allow such Tax Indemnitee to timely comply with such certification or procedure; 

  
 9 

	 	(vii)	a Tax liability arising as a result of or in connection with the voluntary or involuntary sale, assignment, transfer or other disposition by a Tax Indemnitee of the
Engine or any Part, this Lease, any loan secured by any of the foregoing or any right, title or interest of such Tax Indemnitee in or to any thereof other than as a result of or in connection with (a) the proper exercise of any remedy in
connection with any Event of Default, (b) an Event of Loss, or (c) the substitution, replacement, maintenance, repair, modification, improvement or pooling of an Engine or any Part; and 

 

	 	(viii)	Taxes imposed on a transferee of a Tax Indemnitee, to the extent the aggregate amount of such Taxes exceeds the aggregate amount of Taxes which would have been imposed
on the transferor Tax Indemnitee and indemnified against had there not been such transfer, under applicable laws in effect on the date of such transfer. 

 Lessee will also indemnify each Tax Indemnitee, on an After-Tax Basis, as set forth in the Section entitled “Special Tax Indemnity” in Schedule B of the Engine Lease Agreement.

  

	5.9	Mitigation: If circumstances are such that Lessor intends to claim indemnification from Lessee under Section 5.7 and no Default has occurred and is
continuing, Lessor shall, after consultation with Lessee and to the extent that it can do so lawfully and without prejudice to its own position and/or to Lessee’s indemnity and other obligations, consider and will agree what steps it might
reasonably take at Lessee’s expense with a view to mitigating the effect of such circumstances on Lessee. 

  

	5.10	Tax Contest. If Lessee disputes the payment of any Taxes payable by Lessor or any Tax Indemnitee or any loss of tax benefits as provided for by the Lease for
which Lessee is responsible under the Lease, Lessor will take such action as Lessee may reasonably request at Lessee’s expense to contest that payment or permit Lessee to contest such payment, but neither Lessor nor any Tax Indemnitee will be
obliged to take any such action which (x) Lessor or such Tax Indemnitee considers in its good faith determination (i) may prejudice it or (ii) in relation to income taxes, does not have a reasonable prospect of success or
(y) involves a sum of less than $25,000. 

  

	5.11	Tax Information 

  

	 	(i)	If Lessee is required by any applicable Law, or by any Government Entity or any taxing authority having jurisdiction over Lessee, to deliver any report or return in
connection with any Taxes for which Lessee would be obligated to indemnify Lessor or any other Tax Indemnitee under the Lease, Lessee will complete the same and, on request, supply a copy of the report or return to Lessor. 

 

	 	(ii)	If any report, return or statement is required to be made by Lessor or any other Tax lndemnitee with respect to any Tax for which there is an indemnity obligation of
Lessee under the Lease, and Lessee knows of, or reasonably should have known of, such return, report or statement, Lessee will promptly notify Lessor of the requirement and: 

 

	 	(y)	 if permitted by applicable Law, make and timely file such report, return or statement (except for any report, return or statement that Lessor has
notified Lessee that Lessor or any other Tax Indemnitee 

  
 10 

	 	
intends to prepare and file), prepare such return in such manner as will show Lessor as lessor of the Engine and the ownership of the Engine in Lessor if required or appropriate, and provide
Lessor upon request a copy of each such report, return or statement filed by Lessee, or 

  

	 	(z)	if Lessee is not permitted by applicable Law to file any such report, return or statement, Lessee will prepare and deliver to Lessor a proposed form of such report,
return or statement within a reasonable time prior to the time such report, return or statement is to be filed. 

  

	 	(iii)	Lessee will provide such information and documents as Lessor may reasonably request to enable Lessor or any other Tax Indemnitee to comply with its tax filing, audit
and litigation obligations. Lessor or any other Tax Indemnitee will provide such information or documents, at Lessee’s expense, that Lessee does not otherwise have as Lessee may reasonably request and which are necessary to enable Lessee to
comply with its obligations under the Lease (including Sections 5.6 (Withholding and Tax Credit) and 5.7 (Tax Indemnity) of the CTA and Schedule B of the Engine Lease Agreement). 

 

	5.12	Indemnity Payments - After-Tax Basis. The amount of any payment made under Section 5.7 (Tax Indemnity), Section 5.21 (Expenses) or
Section 10 (Indemnity) to or for the benefit of any Indemnitee, shall include such amount as may be necessary to hold such Indemnitee harmless on an After-Tax Basis from all Taxes required to be paid by such Indemnitee with respect to
such payment or indemnity (including any payments pursuant to this Section 5.12). 

  

	5.13	Lessor Obligations Following Expiry Date. Within ten (10) Business Days after the Expiry Date (unless Lessor reasonably determines that there is a material
likelihood of any payment made under the Lease being avoided (or otherwise rescinded) under Section 547 of the United States Bankruptcy Code of 1978, as amended, or any similar occurrence under any analogous provision of applicable United
States federal or state Law, in which case such period shall be extended to ninety-one (91) days) following: 

  

	 	(a)	redelivery of the Engine to Lessor in accordance with and in the condition required by the Lease; or 

 

	 	(b)	payment to Lessor of the Agreed Value following an Event of Loss after the Delivery Date; 

or in each case such later time as Lessor is reasonably satisfied that Lessee has irrevocably paid to Lessor all amounts which may then be
due and payable under the Lease and the Other Agreements and in each case so long as no other Default has occurred and is continuing: 
  

	 	(i)	Lessor will pay to Lessee the balance of the Deposit (if any); 

  

	 	(ii)	Lessor will pay to Lessee the amount of any Rent received in respect of any period falling after the date of redelivery of the Engine or payment of the Agreed Value, as
the case may be; 

  

	 	(iii)	Lessor will return to Lessee or cancel any Letter of Credit; and 

  

	 	(iv)	In the case of an Event of Loss, the amount by which any Supplemental Rent paid by Lessee in respect of the Engine under Section 5.4 exceeds any maintenance
contributions paid by Lessor in respect of the Engine under Section 7.2. 

  
 11 

	5.14	Net Lease 

 The Lease is a
net lease. The Lessee’s obligation to pay Rent and to perform all of its other obligations under the Lease is absolute and unconditional no matter what happens and no matter how fundamental or unforeseen the event, including any of the
following: (a) any right of set-off, counterclaim, recoupment, defense or other right which either party to the Lease may have against the other (including any right of reimbursement) or which Lessee may have against the Manufacturer, any
manufacturer or seller of or any Person providing services with respect to the Engine or any Part or any other Person, for any reason whatsoever; (b) any unavailability of the Engine for any reason, including a requisition of the Engine or any
prohibition or interruption of or interference with or other restriction against Lessee’s use, operation or possession of the Engine (whether or not the same would, but for this provision, result in the termination of the Lease by operation of
Law); (c) any lack or invalidity of title or any other defect in title, airworthiness, merchantability, fitness for any purpose, condition, design, or operation of any kind or nature of the Engine for any particular use or trade, or for
registration or documentation under the Law of any relevant jurisdiction, or any Event of Loss in respect of or any damage to the Engine, provided always that Lessee shall not be required to pay any Rent or Supplemental Rent for any subsequent
period following the occurrence of an Event of Loss in respect of the Aircraft and receipt by Lessor of the Agreed Value; (d) any insolvency, bankruptcy, reorganization, arrangement, readjustment of debt, dissolution, liquidation or similar
proceedings by or against Lessor, Lessee or any other Person; (e) any invalidity or unenforceability or lack of due authorization of, or other defect in, the Lease; (f) any Security Interests or Taxes; and/or (g) any other cause or
circumstance which but for this provision would or might otherwise have the effect of terminating or in any way affecting any obligation of Lessee under the Lease. Lessee acknowledges and agrees that it has used its own judgement in selecting the
Engine, and has not relied on Lessor or on any information supplied by Lessor, that Lessor is not a manufacturer of or dealer in engines and that Lessor has all of the rights and benefits of a lessor under a lease to which Section 2A-407 of the
UCC applies as provided in such Section 2A-407. 
 Except as expressly set forth elsewhere in the Lease, Lessee hereby
waives, to the extent permitted by applicable Law, any and all right which it may now have or which at any time hereafter may be conferred upon it, by statute or otherwise, to terminate, abate, cancel, quit, reduce, defer, suspend or surrender the
Lease or the Engine or any obligation imposed upon Lessee under the Lease (including payment of Rent or Supplemental Rent), 

Each payment of Rent or Supplemental Rent made by Lessee shall be final. Lessee will not seek to recover all or any part of any payment of
Rent or Supplemental Rent for any reason whatsoever except manifest error. 
 Nothing in this Section 5.14 will be construed
or otherwise deemed to limit Lessee’s right to institute separate legal proceedings against Lessor in the event of Lessor’s breach of the Lease subject to the provisions of Sections 7.1 and 16.3 of this Common Terms Agreement, or to
limit Lessee’s rights and remedies against any other Person. 
  

	5.15	Further Provisions regarding Deposit 

  

	 	(a)	 lf, under the Lease, Lessee is required to pay a Deposit, Lessee hereby grants a security interest in the Deposit to Lessor and the remaining
provisions of this Section shall apply. Lessee agrees that Lessor shall be entitled to commingle the Deposit with Lessor’s general or other funds, Lessor will have no obligation to pay any interest thereon and Lessor will not hold any such
funds as agent or in trust for Lessee or in 

  
 12 

	 	
any similar fiduciary capacity. In this regard, Lessee acknowledges and agrees that it is not located in the State of New York within the meaning of Section 7-101 1-c. (b) of the New
York General Obligations Law and, therefore, the requirements of Section 7-101 of the New York General Obligations Law to the effect that Lessor hold the Deposit in a separate, interest bearing account do not apply.

  

	 	(b)	If Lessee fails to comply with any provision of the Lease or the Other Agreements, or any Default shall have occurred and be continuing, in addition to all rights and
remedies accorded to Lessor elsewhere in the Lease or under Law in respect of the Deposit, Lessor may immediately or at any time thereafter, without prior notice to Lessee, apply all or part of the Deposit in or towards the payment or discharge of
any matured obligation owed and outstanding by Lessee or any Affiliate of Lessee under the Lease or the Other Agreements, in such order as Lessor sees fit, and/or exercise any of the rights of set-off described in Section 5.20 (Set-Off)
against all or part of the Deposit. 

  

	 	(c)	If Lessor exercises the rights described in Section 5.13(b) (Application of Deposit), Lessee shall, following a demand in writing from Lessor, immediately
restore the Deposit to the level at which it stood immediately prior to such exercise. 

  

	5.16	Letter of Credit 

  

	 	(a)	If, under the Lease, Lessee is required or elects to provide Lessor with a Letter of Credit, such Letter of Credit will be issued and payable by a Pre-Approved Bank or
another bank acceptable to Lessor in its sole and absolute discretion and in form and substance acceptable to Lessor in its sole and absolute discretion; provided, however, that if the form of the Letter of Credit is substantially in the form of
Schedule 13, then such form will be acceptable to Lessor, acting reasonably. 

  

	 	(b)	The Letter of Credit may have a validity period or periods ending prior to the Required LC Expiry Date, provided that (i) the Letter of Credit shall, in each case,
be renewed, extended or reissued and delivered to Lessor not later than 30 Business Days prior to its expiry (if not renewed or extended in such time, Lessor may draw on the Letter of Credit); and (ii) a Letter of Credit shall remain in force
at all times up to the Required LC Expiry Date unless replaced by a cash deposit in the amount required pursuant to the terms of the Lease. Lessee acknowledges and agrees that its failure to renew, extend or reissue the Letter of Credit when and as
provided in the foregoing sentence shall constitute an immediate Event of Default, which shall entitle Lessor to immediately draw upon the Letter of Credit in the full amount thereof. 

 

	 	(c)	If at any time during the Term, Lessor determines in its sole and absolute discretion that the current issuing or confirming bank for the Letter of Credit is no longer
an acceptable issuing or confirming bank (whether by virtue of a material adverse change in its financial condition, a decrease in any credit rating of its long-term unsecured debt obligations, or for any other reason), Lessor shall notify Lessee of
such fact and Lessee shall within ten (10) Business Days after the receipt of any such notice from Lessor cause the Letter of Credit to be replaced by a Letter of Credit issued by another bank acceptable to Lessor in its sole and absolute
discretion and (if requested by Lessor in its sole and absolute discretion) that such replacement Letter of Credit is confirmed by another bank acceptable to Lessor in its sole discretion. In exercising its sole discretion in this
Section 5.16(c), Lessor shall act reasonably at all times. 

  

	 	(d)	If Lessor makes a drawing under the Letter of Credit, Lessee shall, following receipt of a demand in writing by Lessor, immediately cause the maximum amount available
for drawing under the Letter of Credit to be restored to the level required under the Lease. 

  
 13 

	5.17	Guarantee. If, under the Engine Lease Agreement, Lessee is required to provide Lessor with a Guarantee, Lessee will on or prior to the Delivery Date provide
Lessor with the Guarantee. 

  

	5.18	Late Payment Interest. If Lessee fails to pay any amount due and payable under the Lease on the due date, Lessee will pay on demand from time to time to Lessor
interest (both before and after judgement) on that amount, from the due date to the date of payment in full by Lessee to Lessor, at the Interest Rate. All such interest will be compounded monthly and calculated on the basis of the actual number of
days elapsed in the month, assuming a 30 day month and a 360 day year. 

  

	5.19	Currency 

  

	 	(a)	Except for Losses suffered or incurred by Lessor, which shall be payable by Lessee to Lessor in the currency and in the amount in which such Loss is suffered or
incurred, all amounts payable to Lessor under the Lease shall be payable in Dollars in New York and payment in Dollars in New York is of the essence. Lessee must indemnify Lessor against any Loss Lessor suffers if: 

 

	 	(i)	Lessor receives an amount relating to Lessee’s obligations in a different currency from that in which payments should be made under the Lease; or

  

	 	(ii)	Lessee pays a judgement or claim in a different currency from that in which payments should be made under the Lease. 

 

	 	(b)	Lessee waives any right to pay any amount under the Lease in a currency which is different from the currency provided in the Lease. Notwithstanding any such receipt,
judgement or claim described in Section 5.17(a), Lessee shall have a separate obligation to pay, and Lessor shall have a separate claim against Lessee for, amounts to be indemnified by Lessee under this Section 5.17.

  

	5.20	Certificates. Except where expressly provided in the Lease, any certificate or determination by Lessor properly made in accordance with the provisions of this
Lease, as to any applicable rate of interest or as to any other amount payable under the Lease (other than Rent) will, in the absence of manifest error, be presumed to be correct. 

 

	5.21	Appropriation. If any sum paid or recovered by Lessor in respect of the liabilities of Lessee under the Lease is less than the amount then due, Lessor may apply
that sum to amounts due under the Lease in such proportions and order and generally in such manner as Lessor may determine in its sole discretion. 

  

	5.22	Set-off. Lessor may, without notice, set-off any obligations owed by Lessee under the Lease or under the Other Agreements against any obligation Lessor or any of
its Affiliates owes Lessee under the Lease or under the Other Agreements, regardless of the place of payment or currency. Promptly after making any such set-off, Lessor shall notify Lessee thereof, but failure to give such notice shall not affect
the effectiveness of any such set-off. If the obligations are in different currencies, Lessor may convert either obligation at the market rate of exchange available in New York. If the amount of an obligation is unknown, Lessor may, in good faith
and using reasonable assumptions, estimate the amount. Any difference between the estimated obligation and the actual obligation will be paid by either Lessor or Lessee, as appropriate, when the amount becomes known. 

  
 14 

	5.23	Expenses. Lessee will pay to Lessor promptly, after receipt of written demand, all reasonable and documented expenses (including all legal fees and expenses and
the fees and expenses of other professional advisers) that the Lessor suffers or incurs: 

  

	 	(a)	to deal with any amendments, extensions, consents or waivers that are required in connection with the Lease (but excluding any expenses incurred by Lessor or Owner in
connection with any change in the ownership or financing of the Engine or a change in the Lease that is otherwise requested by Lessor or Owner, and in each case unrelated to any consent, waiver or amendment requested by Lessee or any other act or
omission of Lessee) or to deal with any replacement of any Engine or Part (except for the replacement of an Engine by or at the request of Lessor prior to the Delivery Date); 

 

	 	(b)	to act upon any advice and obtain assistance to perfect the Lease in the State of Registry, the State of Incorporation and under the Cape Town Convention to the extent
applicable (and any other appropriate place); and 

  

	 	(c)	in contemplation of, or otherwise in connection with, the enforcement or preservation of any of Lessor’s rights under the Lease (including under Section 10)
(Indemnity)) or in respect of the repossession of any Engine. 

 All amounts payable pursuant to this
Section 5.23 will be paid in the currency in which they are incurred by Lessor. 
  

	5.24	Other Expenses. Lessee will promptly pay when due all Taxes, other than any Lessor Taxes described in Section 5.8, which it is required to pay and all other
amounts of any nature imposed by any Government Entity with respect to the Engine and/or the Lease except to the extent that the applicability, imposition and/or amount of any such Tax is being contested in good faith by appropriate proceedings in
respect of which adequate reserves have been provided by Lessee and non-payment or contest of which does not give rise to any material risk of the Engine or any interest therein being sold, forfeited or otherwise lost or any risk of criminal
liability on the part of Lessor or Owner. 

  

	6.	MANUFACTURER’S WARRANTIES 

  

	 	(a)	So long as no Event of Default has occurred which is continuing, Lessor shall, with effect from the Delivery Date, assign to Lessee and authorize Lessee to exercise
during the Term all manufacturers’ warranties in relation to the repair or remedy of any defect in the Engine (including compensation for loss of use of the Engine) and other product support for the Engine to the extent that such warranties and
product support are assignable by Lessor. In furtherance of the foregoing assignment, Lessor shall take such actions, at Lessor’s cost and expense, as Lessee may reasonably request to make such warranties and product support available to
Lessee. Lessee will give Lessor prompt written notice of any warranty claim that is settled with Lessee on the basis of a cash payment. To the extent that any manufacturer warranties are assignable in respect of the Engine, Lessor shall cause the
applicable manufacturer of the Aircraft or Engines, as the case may be, to give their respective consent to such assignment on the Delivery of the Engine. 

  

	 	(b)	If an Event of Default has occurred and is continuing Lessor may immediately recover from Lessee the proceeds of any warranty claims previously paid to Lessee to the
extent that such claims relate to any defect in the Engine not fully and completely rectified by Lessee before such Event of Default and Lessor may: 

  

	 	(i)	retain for its own account any such proceeds previously paid to Lessor which would have been remitted to Lessee under this Section 6 in the absence of such Event
of Default; and 

  

	 	(ii)	cause any proceeds of any pending claims to be paid to Lessor, rather than Lessee. 

  
 15 

 If Lessee cures such Event of Default prior to the termination of the leasing of the Engine
by Lessor, then Lessor shall release to Lessee any such proceeds not applied by Lessor in or towards remedying such Event of Default and which would otherwise have been received by Lessee under this Section 6 in the absence of such Event of
Default. 
  

	 	(c)	Lessee will take all steps as are necessary at the end of the Term to ensure that the benefit of any warranties relating to the Engine which have not expired is vested
in Lessor. 

  

	7.	LESSOR’S COVENANTS 

  

	7.1	Quiet Enjoyment. So long as no Event of Default has occurred and is continuing, Lessor will not nor will it permit any Person lawfully claiming by or through it
to interfere with or otherwise disturb Lessee’s right to quiet use and possession of the Engine during the Term. The proper exercise by Lessor of its rights of inspection or other rights provided to it under the Lease in the absence of an of
Event Default in accordance with the terms of the Lease shall not be considered to be a breach of the foregoing covenant. Lessee agrees that as between itself and Lessor its only right with respect to a default by Lessor under the Lease is to make a
claim against Lessor for actual damages resulting directly therefrom, subject to Section 16.3 hereof. Lessee hereby waives any and all other rights or remedies it may have under Section 2A-211 of the UCC or Section 2A-508 through
2A-522 of the UCC or otherwise. 

  

	7.2	Maintenance Contributions 

  

	 	(a)	If, under the Engine Lease Agreement for the’ Engine, Lessee is required to pay Supplemental Rent, then provided no Event of Default has occurred and is
continuing, Lessor will pay as maintenance contributions (as a separate and independent obligation and not as a return of Supplemental Rent), subject to Section 7.2(b) (Exclusions), the following amounts to Lessee or, at Lessee’s
written request, the applicable Maintenance Performer (it being understood and agreed, however, that no such Maintenance Performer shall be a third-party beneficiary of this Lease) by way of contribution to the cost of maintenance of the Engine,
UPON RECEIPT BY LESSOR, WITHIN SIX MONTHS AFTER COMMENCEMENT OF SUCH MAINTENANCE AND BEFORE THE EXPIRY DATE, of an invoice or other form of evidence of payment by Lessee reasonably satisfactory to Lessor together with supporting documentation
reasonably satisfactory to Lessor evidencing performance of the following work during a completed Engine shop visit when the Engine requires off-wing tear down and/or disassembly by the Maintenance Performer: 

 

	 	(i)	 Engine Life-Limited Parts: The Engine LLP Supplemental Rent payable by Lessee for the Engine will be designated and will be reimbursable solely
for the replacement of LLP in the Engine and Lessor will reimburse Lessee from the Engine LLP Supplemental Rent for the actual out-of-pocket materials cost :(without overhead, mark-up or profit factor)] of the LLP in connection with the replacement
of LLP in the Engine, with parts required for all other purposes or causes excluded, including those causes set forth in Section 7.2(b) (Exclusions). Reimbursement, excluding exchange fees and handling, packing and shipping charges, for
the replacement cost of LLP 

  
 16 

	 	
will be made up to the amount of the Engine LLP Supplemental Rent held by Lessor in respect of that Engine at the time of removal of the Engine from the Related Airframe to which it was attached
immediately prior to the replacement of LLP for which reimbursement is sought; 

  

	 	(ii)	Engine Refurbishment: With respect to the Engine Refurbishment of any Engine, the performance restoration, in accordance with the Lease, of such Engine, or a
module thereof, accomplished by a FAR Part 145-approved agency in accordance with the Manufacturer’s work scope planning guide, including all Manufacturer-recommended reliability SBs, alert SBs and FAA Ads (to the extent required during
such performance restoration shop visit and due for termination within the cyclic release period to a maximum of two years), the lesser of (A) the amount of that invoice and (B) the amount of the Engine Supplemental Rent held by Lessor in
respect of that Engine at the time of removal of the Engine from the Related Airframe to which it was attached immediately prior to the restoration. If a flight hour agreement has been entered into by Lessee in relation to the Engine (and consented
to by Lessor in writing), then this subparagraph (ii) shall only apply to the extent expressly agreed to by Lessee and Lessor in the applicable Engine Lease Agreement. 

 

	 	(b)	Exclusions. Lessor will not pay any maintenance contributions: 

  

	 	(i)	For repairs covered by insurance or warranty or arising as a result of accidents or incidents (whether or not eligible for recovery under Lessee’s insurance),
operational or maintenance mishandling or AD work (except as specifically provided in Section 7.2(a)(ii) (Engine Refurbishment); nor 

  

	 	(ii)	For repairs arising as a result of foreign object damage (“FOD”), the removal, installation, maintenance and repair of QEC and/or any elective replacement
(unless mutually agreed by Lessor and Lessee) of Parts not required under the Maintenance Program to be replaced as part of the maintenance described in Section 7.2(a)(i) (Engine Life-Limited Parts) and (ii) (Engine
Refurbishment), as the case may be. 

  

	 	(c)	Supplemental Rent Accounts. Separate accounts will be established for performance restoration and LLP. Lessee will be entitled to draw on the appropriate reserve
account, during the Term and for the purpose of meeting return conditions, to restore performance of the Engine or replace LLP to the extent that the account is in credit. Any costs for performance restoration or replacement of LLP in excess of the
reserves paid for such work will be the responsibility of Lessee. Without prejudice to Lessee’s rights to receive Maintenance Contributions in accordance with the provisions of the Lease, any balances in the Supplemental Rent accounts remaining
at the end of the Lease Term will be retained by Lessor. 

  

	8.	LESSEE’S COVENANTS 

  

	8.1	Duration: Lessee shall perform and comply, or cause its Permitted Sub-Lessee or Maintenance Performer to perform and comply, with its undertakings and covenants
in the Lease at all times during the Term. All such undertakings and covenants shall, except where expressly otherwise stated, be performed at the expense of Lessee. 

  
 17 

	8.2	Information 

 Lessee will:

  

	 	(a)	provide Lessor with a Technical Report for the Engine within ten (10) days after the end of each calendar month throughout the. Term and shall promptly provide
Lessor with such additional information in relation to such Technical Report(s) as Lessor may reasonably request.; 

  

	 	(b)	promptly provide or, as applicable, make available to Lessor the Financial Information (provided however, that if Lessee’s shares are listed on a recognized stock
exchange, such that Lessee’s Financial Information is generally available through Lessee’s investor website, then Lessee shall only be required to provide the Financial Information to Lessor to the extent to which Lessor is unable to
access such Financial Information on Lessee’s investor website); 

  

	 	(c)	promptly after the occurrence thereof, notify Lessor of any Event of Loss and of any event which is likely to result in an insurance claim in excess of the Damage
Notification Threshold and details of any negotiations with insurers or insurance brokers relating to such claim; 

  

	 	(d)	promptly after the occurrence thereof, notify Lessor of any Event of Default; 

 

	 	(e)	provide Lessor, upon request, with evidence that all Taxes and charges that are due and payable and were incurred by Lessee in connection with the Engine, its location
and its operations, have been paid in full (or are being contested in good faith by appropriate proceedings in respect of which adequate reserves have been provided by Lessee and non-payment of which does not give rise to any likelihood of the
Engine or any interest therein being sold, forfeited or otherwise lost or of criminal liability on the part of Lessor or Owner); 

  

	 	(f)	provide Lessor with such other information concerning the location, condition, use and operation of the Engine or concerning the business or financial affairs of
Lessee, as Lessor may from time to time reasonably request; provided that information pertaining to the financial affairs of Lessee shall not be requested by Lessor more frequently than quarterly where no Event of Default has occurred and is
continuing; and 

  

	 	(g)	notify Lessor, promptly, of any Engine Refurbishment not otherwise contemplated by the relevant Technical Report, 

 

	8.3	Lawful and Safe Operation. Lessee will operate the Engine for commercial purposes from the Delivery Date until the Return Occasion from a base within the State
of Registry or from such other base outside the State of Registry pursuant to a sub-lease or a wet-lease complying with Section 8.4(a) (Subleasing), provided, always that Lessee must not use or operate. the Engine or permit the Engine to
be used or operated: 

  

	 	(a)	in violation of any applicable Regulations or in a manner causing Lessor, Owner, any Financing Party or GECAS to be in violation of any applicable Regulations, except
where in extraordinary or exceptional circumstances (such as severe meteorological conditions or malfunction of the aircraft on which the Engine is located) and in order to preserve or protect the Engine, the Related Airframe or its passengers or
crew, Lessee operates the Engine to a destination which would violate such Regulations, provided that Lessee shall promptly take all necessary action to remove the Engine from such destination; 

  
 18 

	 	(b)	for any purpose for which the Engine was not designed or, subject to the provision in paragraph (a) of this Section 8.3, which is illegal;

  

	 	(c)	in any circumstances or place where the Engine is not covered by the Insurances; or 

 

	 	(d)	for purposes of training, qualifying or re-confirming the status of cockpit personnel except for the benefit of Lessee’s or a Permitted Sub-Lessees cockpit
personnel, and then only if the use of the Engine for such purpose is not disproportionate to the use for such purpose of other engine of the same type operated by Lessee or any Permitted Sub-Lessee, as the case may be. 

 

	8.4	Subleasing. AT NO TIME PRIOR TO THE RETURN OCCASION WILL LESSEE SUB-LEASE OR OTHERWISE GIVE POSSESSION OR CONTROL OF THE ENGINE TO, OR OTHERWISE PERMIT THE
ENGINE TO BE IN THE POSSESSION OR CONTROL OF, ANY OTHER PERSON EXCEPT: 

  

	 	(a)	where the Engine is delivered to a manufacturer or maintenance facility for work to be done on it as required or permitted under the Lease; or 

 

	 	(b)	to a Pre-Approved Sub-Lessee or to such other sub-lessee of the Engine to which Lessor consents in writing (in each case, a “Permitted Sub-Lessee”),
pursuant to a sub-lease to which Lessor consents in writing (a “Permitted Sub-Lease”) on such terms as Lessor may reasonably require, and provided always that no Event of Default shall have occurred and be continuing at the
commencement of such sublease and all reasonable out of pocket costs connected with Lessor’s review of the sub-lease and preparation, negotiation, execution and filing of all documents connected thereto shall be for Lessee’s account. Upon
giving Lessee at least five (5) Business Days’ notice, Lessor shall have the right to remove any of the Persons from the list of Pre-Approved Sub-Lessees from time to time if Lessor has reasonable cause to believe that the right, title or
interest of Lessor or Owner in the Engine would be materially adversely affected if the Engine were to be sub-leased to such Person or if Lessor has: reasonable concerns about such a Person’s solvency or ability to operate and maintain the
Engine in accordance with the Lease; or 

  

	 	(c)	as permitted under Section 8.11 (Removal or Engines and Parts). 

 

	 	(d)	Notwithstanding anything to the contrary set forth herein, Lessee shall be permitted to place the Engine on a Related Airframe which Lessee wet leases to a third party;
provided that, during such operations (i) the Related Airframe on which the Engine is installed shall be operated solely by regular employees of or contracted by Lessee possessing all current certificates and licenses that are required by
applicable Regulations, including by the State of Registry, and shall remain in the operational control and possession of Lessee, (ii) the Engine shall be subject to insurance coverage as provided for in the Lease, (iii) the Engine shall
be used and operated in accordance with the Lease and shall be maintained or caused to be maintained by Lessee in the manner required by this Lease, and (iv) the Engine shall not be subject to any change in State of Registry; and provided
always that, such arrangement is expressly subordinated to the Lease and the rights of Lessor and Owner thereunder and to the Engine. 

  

	8.5	Inspection 

  

	 	(a)	 Lessee will permit Lessor’s, Owner’s and the Financing Parties’ Representative representatives to inspect the Engine at any reasonable
time. Unless an Event of Default has occurred and is continuing, any such Person will give Lessee reasonable prior notice of such inspection and will ensure that it does not result in an

  
 19 

	 	
unreasonable disruption to the scheduled operation of such Engine. Lessee shall comply with the reasonable requests of Lessor’s, Owner’s and the Financing Parties’ Representative
representatives during the course of an inspection. 

  

	 	(b)	The cost of conducting an inspection shall be borne by Lessor, Owner or the Financing Parties, as the case may be, unless, (i) an Event of Default has occurred and
is continuing or (ii) if as a result of that inspection, Lessee is found to be in material default of its obligations under the Lease, in which case the cost shall be borne by Lessee. 

 

	 	(c)	No liability or obligation will be incurred by Lessor, Owner, Financing Parties’ Representative or the Financing Parties, as the case may be, by reason of
non-exercise by any of them of the inspection rights referred to in this Section 8.5. 

  

	8.6	Ownership; Property Interests; Related Matters 

  

	 	(a)	Lessee will: 

  

	 	(i)	fix and maintain Nameplates containing the Nameplate Inscription in a prominent position on each Engine; 

 

	 	(ii)	in any circumstance where such interests are relevant, take all reasonable steps to make sure that all relevant Persons know about the interests of Owner, Lessor and
Financing Parties’ Representative in the Engine; and 

  

	 	(iii)	pay all navigation charges, air traffic control charges, landing charges or other amounts of any nature imposed by any Government Entity with respect to Lessee, each
Related Airframe, each Engine and/or the Lease except to the extent that, in the reasonable opinion of Lessor, such payment is being contested in good faith by appropriate proceedings in respect of which adequate reserves have been provided by
Lessee and non-payment of which does not give rise to any material likelihood of the Engine or any interest therein being sold, forfeited or otherwise lost or of criminal liability on the part of Lessor or Owner. 

 

	 	(b)	Lessee will not: 

  

	 	(i)	represent that it is the owner of the Engine or that it has an economic interest (equivalent to ownership) in the Engine for Tax treatment or other purposes, except for
the election to consider the Engine as part of its assets under the Mexican Asset Tax Law (Ley del Impusto al Activo); 

  

	 	(ii)	take any action or fail to take any action, other than action required under the Lease (including under Section 7.1) (Quiet Enjoyment) to be taken by
Lessor, Affiliates of Lessor, Owner or a Financing Party, if such action or omission could result in a forfeiture or seizure of the Engine or otherwise similarly put Owner’s and/or Lessor’s and/or Financing Parties’
Representative’s rights or interests at risk; 

  

	 	(iii)	represent to others that Owner, Lessor or Financing Parties’ Representative is associated with or responsible for the business activities and/or flight operations
of Lessee; 

  

	 	(iv)	allow the Engine or Owner’s, Lessor’s or Financing Parties’ Representative’s interest in it or the Lease to become or remain subject to any Security
Interest (other than a Permitted Lien); or 

  

	 	(v)	allow the name of any Person to he placed on the Engine as a designation that could reasonably be interpreted as a claim of ownership or as a Security Interest;
provided that, Lessee may place thereon, or a Permitted Sub-Lessee to place thereon, its livery, colors and insignia. 

  
 20 

	8.7	General 

  

	 	(a)	Lessee will: 

  

	 	(i)	maintain its business as a commercial scheduled airline, will preserve its corporate existence (other than as permitted in connection with a solvent reorganization on
terms which shall have been previously approved in writing by Lessor and Section 8.7 (vii) below) and will maintain all rights, privileges, licenses and franchises material thereto or material to performing its obligations under the Lease;

  

	 	(ii)	not operate, maintain, insure or deal with, or keep records with respect to, the Engine in a manner which discriminates against the Engine adversely insofar as
Lessor’s, Owner’s or Financing Parties’ interests are concerned, when compared with the manner in which Lessee operates, maintains, insures or deals with, or keep records with respect to, similar engines or parts in Lessee’s
fleet; 

  

	 	(iii)	not change (1) the location of its chief executive office from that described in the heading of the Engine Lease Agreement, (ii) the designated service of
process agent set forth in Section 15.8(c), or (iii) otherwise be located (as defined in Section 9-103(3)(d) of the UCC) at any place in the United States other than the location described in Schedule 2, except upon ten (10)
days prior written notice thereof to Lessor; 

  

	 	(iv)	not liquidate or dissolve, except in the case where a mandatory liquidation occurs or pursuant to a solvent reorganization, consolidation or merger permitted hereunder
or with the prior written consent of Lessor which consent, in each case, shall not be unreasonably withheld; 

  

	 	(v)	not consolidate with or merge into or with any other corporation or other Person, and not convey, transfer, lease or otherwise dispose of all or substantially all of
its property and other assets to, or acquire all or any substantial part of the property or other assets or capital stock of (if such acquisition is analogous in either purpose or effect to a consolidation or merger), any corporation or other
Person, unless Lessee provides Lessor with not less than thirty (30) days prior written notice of such transaction describing such transaction in reasonable detail and providing Lessor with evidence reasonably satisfactory to Lessor
demonstrating that such transaction (x) shall not have any material adverse effect on the rights of Lessor, Owner or the Financing Parties’ Representative under or in respect of the Lease or the Engine; and all applicable requirements of
the Financing Documents shall have been complied with in connection therewith and (y) no Default shall have occurred and be continuing or shall occur as a result thereof; and 

 

	 	(vi)	act as both the importer and exporter of record and shall, at its expense, obtain and maintain all certificates, licenses, permits, approvals and other governmental
authorizations from time to time required for the use and operation of the Engine or which may be necessary to import, export or transport the Engine from the Delivery Location and to the Redelivery Location. 

  
 21 

	8.8	Records. Lessee will keep all Engine Documents; 

  

	 	(a)	in English; 

  

	 	(b)	according to prudent standard international practice airline practice of similar carriers to Lessee; and 

 

	 	(c)	in accordance with prudent standard international practice and so they meet the requirements of applicable Regulations (including at minimum all IAA and FAA
requirements, including specifically FAR 91.417) and Lessee’s Maintenance Program. 

  

	8.9	Protection. Lessee will: 

  

	 	(a)	take all actions requested by Lessor that are within Lessee’s control to keep each Related Airframe registered with the Air Authority; 

 

	 	(b)	make any and all filings required to be made with the Air Authority registry that are within its control and take all other actions within its control that are
necessary or advisable to reflect on the Air Authority registry or as otherwise appropriate under applicable Law any change in the ownership of the Engine, or in the interests of Lessor, Owner or the Financing Parties’ Representative in the
Lease or the Engine, any modification to the Engine (such as the permanent replacement of the Engine or Part in accordance with the Lease) or as a result of any change in applicable Regulations. Lessor will bear any costs incurred as a consequence
of a transfer by Lessor, Owner or the Financing Parties’ Representative of the interests of Lessor, Owner or the Financing Parties’ Representative in the Lease or the Engine or a change in the identity of Lessor, Owner or the Financing
Parties’ Representative (in each case, unrelated to the replacement of any Engine or Part or an Event of Default), and Lessee will bear any other costs incurred in complying with this Section 8.9, including in connection with the
replacement of any Engine or Part; 

  

	 	(c)	reasonably cooperate with the Lessor, Owner and/or any Financing Party, so that as soon as practicable from time to time registrations shall be made to permit the
interests of the Lessor, Owner and/or any Financing Party (or any of them) in connection with the Engine to be perfected and recorded as “international interests” under the Cape Town Convention in accordance and to the extent permitted
under applicable Law; and 

  

	 	(d)	take any actions reasonably requested by Lessor to ensure that the Cape Town Convention is applicable to the Lease and that the interests of any Indemnitee in relation
to the Engine are effectively registered at the International Registry in accordance and to the extent permitted under applicable Law. 

  

	8.10	Maintenance and Repair. Lessee will maintain, overhaul and repair the Engine (or arrange for the Engine to be maintained, overhauled and repaired, through the
Maintenance Performer), so that: 

  

	 	(a)	the Engine is kept in as good operating condition and repair as the condition of the Engine as at Delivery and after giving effect to any post-Delivery modifications,
repairs or maintenance paid for or otherwise provided by or on behalf of Lessor, except for ordinary wear and tear, for purposes of any Engine, ordinary wear and tear does not include POD, damage from accident, neglect and improper use, operation
and handling; 

  
 22 

	 	(b)	Lessee has a current certificate of airworthiness (issued by the Air Authority in the appropriate public transport category) for the Related Airframe;

  

	 	(c)	the Engine complies with (i) all applicable Regulations and the standards stipulated by FAR Part 121 Subpart I_ (or its JAA equivalent) and any other rules
and regulations of the FAA (or J AA) and in at least the same manner and with at least the some care, including record keeping, maintenance scheduling, modification status and technical condition, as is the case with respect to similar engines owned
or otherwise operated by Lessee and as if Lessee were to retain and continue operating the Engine in its fleet after the Expiry Date, including all maintenance to the Engine or any Part required to maintain all warranties, performance guaranties or
service life policies in full force and effect; and (ii) the requirements of all ADs and SBs designated by the State of Design or State of Registry as “mandatory,” and to be carried out before the Return Occasion or within the AD
Compliance Period; and 

  

	 	(d)	all maintenance and repair is carried out according to Lessee’s Maintenance Program in at least the same manner and with at least the same care, including Line
Maintenance, maintenance scheduling, modification status and technical condition, as is the case with respect to similar engines owned or otherwise operated by Lessee, provided always that such repair of any Part of the Engine shall not include DER
repairs. 

  

	8.11	Removal of Parts; Installation of Engine 

  

	 	(a)	General: Lessee must replace, at its sole expense, in accordance with Section 8.11(b) (Permanent Replacement) within ninety (90) days thereof,
any Part which is permanently removed from the Engine, provided, however, that any Engine which has suffered an Event of Loss shall be subject to Section 11.1 (Events of Loss). Any Part which otherwise is lost, stolen, destroyed, seized,
obsolete, confiscated, damaged beyond repair or permanently rendered unfit for any reason, must be replaced in accordance with Section 8.11(b). Any Engine may be installed on an aircraft Lessee owns, leases or wet leases in accordance with
Section 8.11(c) (Installation). Lessee shall obtain from any person to whom possession of an Engine is given, and from the lessor of any Related Airframe and from any holder of a Security Interest in any Related Airframe a Recognition of
Rights Agreement prior to the installation of such Engine on any Related Airframe unless the applicable lease/security document relating to such Related Airframe contains a provision whereby the lessor and/or owner of the Related Airframe recognize
the rights of lessors and owners of spare engines attached from time to time on the Related Airframe, subject to such provision being disclosed to Lessor and acceptable to Lessor in its reasonable discretion prior to such installation occurring.

  

	 	(b)	Permanent Replacement: If Lessee permanently replaces a Part, subject to any additional terms and conditions in the Lease: 

 

	 	(i)	the replacement part must be an OEM approved Part, be in good operating condition, be made by the same manufacturer as the Part it is replacing (to the extent possible
provided always that such replacement part shall be an OEM approved Part), have a value, warranty status and utility the same or better than the Part it is replacing, have as much useful life available until the next scheduled maintenance procedure,
be of the same or a more advanced make and model and of the same interchangeable modification status as the Part it is replacing; 

  

	 	(ii)	the replacement part must have become and remain, until replaced in accordance with this Section 8.11, the property of Owner free from Security Interests (other
than Permitted Liens), and subject to the applicable Financing Documents; and 

  

	 	(iii)	Lessee must have full details of the source and maintenance records of the replacement part. In the case of replacement life-limited serialized parts, documentation
shall be back to birth (and acceptable to Lessor acting reasonably or, if FAA/JAA requirements apply to such documentation, then such documentation shall be in compliance with the applicable FAA/JAA requirements) and in the case of serialized
rotable parts, shall have a complete service history in accordance with Aviation Authority or FAA requirements, whichever are more stringent. 

  
 23 

	 	(c)	Installation: An Engine may be installed on an aircraft which Lessee owns, leases or wet leases if: 

 

	 	(i)	no Event of Default has occurred and is continuing; 

  

	 	(ii)	Lessee has operational control over the Engine; 

  

	 	(iii)	Owner keeps the ownership of the Engine; 

  

	 	(iv)	the Engine does not become subject to a Security Interest and the Related Airframe is not subject to any Security Interest except a Permitted Lien or a lease or
Security Interest described in Section 8.11(a) (General) above; 

  

	 	(v)	Lessee obtains and delivers to Lessor a Recognition of Rights Agreement in respect of any Related Airframe on which the Engine is to be installed unless the applicable
lease/security document relating to such Related Airframe contains a provision whereby the lessor and/or owner of the Related Airframe recognize the rights of lessors and owners of spare engines attached from time to time on the Related Airframe ,
subject to such provision being disclosed to Lessor and acceptable to Lessor in its reasonable discretion; and 

  

	 	(vi)	the Engine is removed from the Related Airframe as soon as practicable under Lessee’s engine rotation program but not later than the Expiry Date;

  

	 	(d)	Temporary Replacement: Lessee may install any part on the Engine as a temporary replacement if: 

 

	 	(i)	no Event of Default has occurred and is continuing; 

  

	 	(ii)	there is not available a part complying with the requirements of the Lease for a replacement part; 

 

	 	(iii)	it would result in an unreasonable disruption of the operation of the Engine or the business of Lessee to have the Engine grounded until such time as a part complying
with the requirements of the Lease for a replacement part becomes available for installation; 

  

	 	(iv)	as soon as practicable after a part is installed on the Engine, but before the earlier of the next scheduled removal from service for the performance of an Engine
Refurbishment or major maintenance event or the Expiry Date, Lessee removes that part and replaces it with the original Part (or by a part which complies with Section 8.11(b) (Permanent Replacement)); and 

 

	 	(v)	the Insurance for the Engine is not adversely affected. 

  

	 	(e)	Pooling/Interchange: Lessee shall not subject any Engine or Part to any pooling, interchange, lease or similar arrangement unless Lessee obtains Lessor’s
prior written consent thereto, which consent shall not be unreasonably withheld. 

  
 24 

	8.12	Equipment Changes. Lessee will not make any modification or addition to the Engine (each an “Equipment Change”), except for an Equipment Change which:

  

	 	(i)	is required by Law or Regulation or is otherwise expressly permitted or required by the Lease; or 

 

	 	(ii)	has (x) a cost (including labor) of less than the Modification Approval Amount or (y) the prior written approval of Lessor, which approval shall not be
unreasonably withheld, and (z) in either case, does not diminish the condition, utility, airworthiness or value of the Engine. 

 So long as no Event of Default has occurred and is continuing, Lessee may remove or reverse any Equipment Change provided that the Equipment Change is not required pursuant to the terms of the Lease or to
maintain the Insurance and removal or reversal does not diminish the value, utility, airworthiness or condition of the Engine assuming that such Equipment Change was not made and that the Engine is maintained in accordance with the Lease.
Furthermore, Lessor may require Lessee to remove or reverse any Equipment Change prior to the Return Occasion so that, on the Expiry Date, the Engine is restored to the condition it was in prior to that Equipment Change. Any Equipment Change not so
removed or reversed becomes the property of Lessor or Owner, as the case may be, at the Expiry Date. 
  

	8.13	Title on an Equipment Change. Title to any Part that is installed on the Engine shall, except in the case of a temporary replacement of a Part, vest in Owner
solely by virtue of its attachment to the Engine and it shall then be subject to the Lease and, if applicable, the Financing Documents, as if it were attached to the Engine at Delivery. If so requested by Lessor, Lessee will provide a properly
executed bill of sale or similar instrument to evidence the vesting of good and marketable title, free and clear of any Security Interest (except Lessor Liens), to any such replaced part in Owner and all documents required under the Financing
Documents. After Lessor has determined that Lessee has permanently replaced any Part in accordance with Section 8.11(b) (Removal of Parts) and this Section 8.13, Lessor will, or will procure that Owner will, without recourse or
warranty (except as to the absence of Lessor’s Liens), transfer to Lessee or will procure that Owner will transfer to Lessee all of Lessor’s or Owner’s, as the case may be, rights to the Parts that has been replaced, on an AS IS,
WHERE IS basis, and will at Lessee’s expense provide or will procure that Owner provides a bill of sale or similar instrument as Lessee may reasonably request to evidence such transfer. Lessee shall indemnify, on an After-Tax Basis, Lessor,
Owner and each other Tax Indemnitee for all fees, expenses and Taxes incurred by Lessor, Owner or any other Tax Indemnitee in connection with any such transfer, except for Lessor Taxes. 

 

	8.14	Off-Wing Storage. If the Engine is not installed on any airframe for a continuous period in excess of 30 days, Lessee will store the Engine, at
Lessee’s sole cost, in accordance with the recommendations of Manufacturer and the FAA and the requirements of the Air Authority. 

  

	9.	INSURANCE 

  

	9.1	 Insurance. Lessee will maintain the Insurance in full force during the Term, and thereafter as expressly required in the Lease, which Insurance
shall comply with prudent industry practice for comparable operators, and shall be through such brokers and with such insurers as shall be acceptable to Lessor acting reasonably, and having such deductibles and subject to such exclusions as may be
approved by Lessor from time to time, which approvals shall not be 

  
 25 

	 	
unreasonably withheld. The Insurance shall in any event meet the requirements set forth in Schedule 7 (Insurance Requirements), which may be amended from time to time by Lessor
(acting reasonably) (other than in respect of the amount of any deductible or the amount of the “Agreed Value” as all such amendments to amounts shall require the prior written consent of Lessee) following a material change in
international aviation insurance practices so that the scope and level of cover is maintained, and the interests of Lessor and each Indemnitee are reasonably protected, in line with usual and customary industry practice. 

 

	9.2	Insurance Undertakings and information: Lessee will: 

  

	 	(a)	comply with the terms and conditions of each policy of any Insurance and not do, consent or agree to any act or omission which: 

 

	 	(i)	invalidates or may invalidate any Insurance; or 

  

	 	(ii)	renders or may render void or voidable the whole or any part of any Insurance; 

 

	 	(b)	not take out without the prior written approval of Lessor any insurance or reinsurance in respect of the Engine which adversely affects the Insurance required to be
maintained hereunder; 

  

	 	(c)	commence renewal procedures in a timely manner prior to expiry of any of the Insurance and provide to Lessor: 

 

	 	(i)	if requested by Lessor, in writing, a written status report of renewal negotiation 14 days prior to each expiry date; 

 

	 	(ii)	telecopy confirmation of completion of renewal prior to each policy expiry date; and 

 

	 	(iii)	certificates and broker’s letters which comply with Section 9.2(d). 

 

	 	(d)	on reasonable request, provide to Lessor copies of documents or other information evidencing the Insurances, including certificates of insurance (and where appropriate
certificates of reinsurance), and broker’s (and any reinsurance broker’s) letters of undertaking in a form acceptable to Lessor (acting reasonably), detailing the coverage and confirming compliance with the specified insurance requirements
of the Lease within seven (7) days after each renewal date; and 

  

	 	(e)	provide any other insurance and reinsurance related information, or assistance, in respect of the Insurance as Lessor may reasonably require. 

Nothing herein shall be deemed to prevent Lessee, at its expense, from carrying insurance covering the Engine or any Part in addition to
the Insurances required under this Section 9 or in reasonable amounts greater than those required under this Section 9; provided that any such Additional Insurance shall not adversely affect the rights of Lessor, Owner or any other
Additional Insured to make any claim or obtain recovery or coverage under any of the Insurances required to be maintained pursuant to this Section 9. The proceeds of any such Additional Insurance shall be paid directly to and shall be deemed
the sole property of Lessee. 

  
 26 

	9.3	Failure to Insure. If Lessee fails to maintain any of the Insurance in compliance with the Lease: 

 

	 	(a)	each of the Indemnitees will be entitled but not bound (without prejudice to any other rights of Lessor under the Lease) to pay the premiums due or to effect and
maintain insurance satisfactory to it or otherwise remedy Lessee’s failure in such manner (including, without limitation to effect and maintain an “owner’s interest” policy) as it considers appropriate. Any sums so expended by it
will become immediately due and payable by Lessee on demand by Lessor together with interest thereon at the Interest Rate, from the date of expenditure by it up to the date of reimbursement by Lessee; and 

 

	 	(b)	Lessor at any time while such failure is continuing to require the Engine to remain at any airport, or such other location where such Engine is then located, or to
proceed to and remain at any airport, or such other location designated by Lessor until the failure is remedied to its reasonable satisfaction. 

  

	9.4	Continuing Indemnity. Lessee shall effect and maintain Insurance after the Expiry Date with respect to its liability under Section 10 (Indemnity) for
two years, and such insurance shall name each Indemnitee as an additional insured. 

  

	9.5	Change. If at any time Lessor wishes to revoke its approval of any insurer, reinsurer, insurance or reinsurance, Lessor and/or its brokers will consult with
Lessee and Lessee’s brokers (as for the time being approved by Lessor) regarding whether that approval should he revoked to protect the interests of the parties insured. If, following such consultation, Lessor considers that any change should
be made, Lessee will then arrange or procure the arrangement of alternative cover satisfactory to Lessor acting reasonably. 

  

	10.	INDEMNITY 

  

	 	(a)	Except as provided in Section 10(b) below, Lessee agrees to indemnify and hold harmless each of the Indemnitees from and against all Losses which an Indemnitee may
at any time suffer or incur at any time, whether directly or indirectly, arising out of, related to or in any way connected with: 

  

	 	(i)	the ownership, maintenance, overhaul, service, repair, delivery, possession, transfer of ownership or possession, import, export, registration, control, storage,
modification, leasing, insurance, inspection, testing, design, subleasing, use, condition, redelivery or other matters relating to any Engine any Part or any Related Airframe (regardless of whether in the air or on the ground, and regardless of
whether such Losses are based on strict liability in tort, any act or omission, including the negligence, of any Indemnitee, or otherwise); or 

  

	 	(ii)	any breach by the Lessee of any of its obligations under the Lease, or with respect to any Engine, for any breach by Lessee of its obligations under any agreement for a
Related Airframe; or 

  

	 	(iii)	the design, testing or use of or any article or material in, any Engine or any Part or its use or operation, including any defect in design and regardless of whether it
is discoverable, and any infringement of patent, copyright, trademark, design or other proprietary right claimed by any Person or a breach of any obligation of confidentiality claimed to be owed to any Person. 

  
 27 

 For the avoidance of doubt, the reference to “ownership” in clause (i) shall
not require Lessee to indemnify Lessor in respect of (y) any defect in Lessor’s or Owner’s title to the Engine or any Losses arising as a result of, in connection with or relating to such defect, or (z) any decline in the
residual value of the Engine if Lessee shall have fully complied with its obligations under the Lease (subject to any applicable grace periods). 
  

	 	(b)	Notwithstanding the provisions of Section 10(a), Lessee is not required to indemnify any particular Indemnitee (provided that Lessor and its Subsidiaries and
Affiliates and its and their officers, directors and employees shall be treated as a single Indemnitee) under this Section, to the extent a particular Loss is: 

 

	 	(i)	caused by the wilful misconduct of or gross negligence of that Indemnitee, other than gross negligence imputed to such Indemnitee solely by reason of its interest in
the Engine or the Lease; 

  

	 	(ii)	caused by Lessor’s breach of the Lease; 

  

	 	(iii)	related to any Taxes (but without prejudice to any Indemnitee’s rights under any other provision of this Lease relating to Taxes); 

 

	 	(iv)	caused by an event which occurs before the commencement of the Term (except where the Loss is suffered during the Term as a result of a pre-Delivery defect in or
otherwise arises out of or relates to or is any way connected with the manufacture, design, maintenance, repair, rebuilding, overhaul or modification of the Engine); 

 

	 	(v)	caused by an event which occurs after the redelivery of the Engine to Lessor in compliance with the Lease and is not attributable to any act, omission, event or
circumstance occurring prior to such redelivery; 

  

	 	(vi)	caused by any sale, assignment, transfer or other disposition (whether voluntary or involuntary) by such lndemnitee of any Engine or any interest therein that is not a
replacement thereof under the Lease, and unless such sale, transfer or other disposition has resulted from or occurred following a Default; or 

  

	 	(vii)	consists of normal administrative costs, overhead and expenses of such Indemnitee (but excluding any such costs or expenses resulting from the occurrence of any Event
of Default); 

  

	 	(viii)	consists of costs or expenses for which Lessor has expressly agreed to be responsible under any other provision of the Lease; or 

 

	 	(ix)	consists of costs or expenses of entering into amendments not requested by Lessee or required hereunder. 

 

	11.	EVENTS OF LOSS 

  

	11.1	Events of Loss 

  

	 	(a)	If an Event of Loss occurs prior to Delivery of the Engine, the Lease will immediately terminate and except as expressly stated in the Lease neither party will have any
further obligation other than pursuant to Section 5.21 (Expenses) and Section 3 of Schedule 4 (Pre-Delivery Procedures and Delivery Condition Requirements), except that Lessor will return any Deposit to Lessee and
return to Lessee or cancel any Letter of Credit. 

  
 28 

	 	(b)	If an Event of Loss occurs after Delivery, Lessee will pay the Agreed Value to Lessor on or prior to the earlier of (i) thirty (30) days after the Event of
Loss and (ii) the date of receipt of insurance proceeds in respect of that Event of Loss. 

  

	 	(c)	Subject to the rights of any insurers and reinsurers or other third party, upon irrevocable payment in full to Lessor of the Agreed Value and all other amounts which
may be or become payable to Lessor under the Lease, and if Lessee requests such transfer, Lessor will, or will procure that Owner will, without recourse or warranty (except as to the absence of Lessor’s Liens) transfer to Lessee or will procure
that Owner transfers to Lessee legal and beneficial title, subject to no Lessor’s Liens (but otherwise without warranty), to the Engine, on an AS IS, WHERE IS basis, and will at Lessee’s expense, execute and deliver or will procure that
Owner executes and delivers such bills of sale and other documents and instruments as Lessee may reasonably request to evidence (on the public record or otherwise) such transfer, free and clear of all rights of Lessor and Owner and Lessor Liens.
Lessee shall indemnify Lessor, Owner and each other Tax Indemnitee for all fees, expenses and Taxes incurred by Lessor, Owner or any other Tax Indemnitee in connection with any such transfer, except for Lessor Taxes. 

 

	11.2	Requisition. During any requisition for use or hire of any Engine or Part which does not constitute an Event of Loss: 

 

	 	(a)	the Rent and other charges payable under the Lease will not be suspended or abated either in whole or in part, and Lessee will not be released from any of its other
obligations (other than operational obligations with which Lessee is unable to comply solely by virtue of the requisition); and 

  

	 	(b)	so long as no Default has occurred and is continuing or upon Lessee remedying such Default, Lessee will be entitled to any compensation paid by the requisitioning
authority in respect of such authority’s use of the Engine or such Part during the Term. Lessee will, as soon as practicable after the end of any such requisition, cause the Engine to be put into the condition required by the Lease. Lessor will
be entitled to all compensation payable by the requisitioning authority in respect of any change in the structure, state or condition of the Engine arising during the period of requisition, and Lessor will apply such compensation in reimbursing
Lessee for the cost of complying with its obligations under the Lease in respect of any such change, but, if any Default has occurred and is continuing, Lessor may apply the compensation in or towards settlement of any amounts owing by Lessee under
the Lease and/or under any Other Agreement, but if not so applied, shall pay the same to Lessee upon Lessee remedying any such Default and all other Defaults then existing. 

 

	12.	RETURN OF ENGINES 

  

	12.1	Return. On the Expiry Date or redelivery of the Engine pursuant to Section 13.2 (Rights and Remedies) or termination of the leasing of the Engine
under the Lease, Lessee will, unless an Event of Loss or any event which but for the passage of time would constitute an Event of Loss has occurred, redeliver the Engine and the Engine Documents at Lessee’s expense to Lessor at the Redelivery
Location, in accordance with the procedures and in compliance with the conditions set forth in Schedule 6 (Procedures and Operating Condition at Redelivery), free and clear of all Security Interests (other than Lessor Liens) and in a
condition qualifying for and having a valid and fully effective certification of airworthiness under FAR Part 121. 

  
 29 

	12.2	Non-Compliance. If at the time of Final inspection Lessee has not fully complied with any of its obligations under the Lease (including Schedule 6
(Procedures and Operating Condition at Redelivery) or Lessee fails to make the Engine available to Lessor on a timely basis for inspection and redelivery pursuant to Section 12.1 (Return) and such Schedule 6
(whether such failure is due to any act or omission of Lessee or any other circumstance whatsoever (other than (i) to the extent that the delay is caused by a failure on the part of Lessor to inspect the Engine for the purposes of the Final
Inspection in accordance with the Lease, except where that failure arises due to the occurrence of a Default by Lessee, or (ii) any request by Lessor to perform work, repair, maintenance or modification to the Engine other than as necessary to
meet the redelivery conditions set forth herein)), the Term shall be extended until the time when the Engine has been redelivered to Lessor in full compliance with the Lease, for the sole purpose of enabling such non-compliance or failure to be
promptly rectified, and during such extension period: 

  

	 	(a)	Lessee shall not use the Engine in flight operations except those related directly to the redelivery of the Engine to Lessor; 

 

	 	(b)	all Lessee’s obligations and covenants under the Lease will remain in full force until Lessee so redelivers the Engine; and 

 

	 	(c)	Lessee shall pay Rent to Lessor at a rate per month equal to: (i) the amount of Rent payable in respect of the last scheduled Rental Period for the first *****
days following the Scheduled Expiry Date, (ii) the amount of Rent payable in respect of the scheduled Rental Period plus ***** thereof for the ***** through to the ***** following the Scheduled Expiry Date and (iii) from and after the
***** day following the Scheduled Expiry Date, the amount of Rent payable in respect of the last scheduled Rental Period plus ***** thereof, in each case calculated on a per diem basis. 

Any such extension shall not prejudice Lessor’s right to treat such non-compliance or failure as an Event of Default at any time, and
to enforce such rights and remedies as may be available to Lessor in respect thereof under the terms of the Lease or applicable Law. Without limiting the generality of the foregoing, Lessee’s Rent obligation under paragraph (c) above shall
be without prejudice to Lessor’s rights to terminate the letting of the Engine and to indemnification pursuant to Section 13.3 (Default). 
 Lessor may elect (either on first tender of the Engine by Lessee or at any time during the said extension period) to accept redelivery of the Engine notwithstanding non-compliance with Section 12.1
or Schedule 6, in which case Lessee will indemnify Lessor on an After-Tax Basis, and provide cash to Lessor (in an amount satisfactory to Lessor) as security for that indemnity, in respect of the actual, out of pocket cost to Lessor of
putting the Engine into the condition required by the Lease. 
  

	12.3	Redelivery. Upon redelivery Lessee will provide to Lessor, upon Lessor’s request, all documents necessary to export the Engine from the State of Registry
(including a valid and subsisting export certificate of airworthiness for the Engine). 

  

	12.4	Acknowledgement. Provided Lessee has complied with its obligations under this Section 12 and Schedule 6 (Procedures and Operating Condition
at Redelivery), of the Lease, following redelivery of the Engine by lessee to Lessor at the Redelivery Location, Lessor will deliver to Lessee an acknowledgement confirming that lessee has redelivered the Engine to Lessor in accordance with the
Lease which acknowledgement shall be without prejudice to Lessor’s accrued and continuing rights under the Lease or any Other Agreement. 

  
 30 

	13.	DEFAULT 

  

	13.1	Events. The occurrence of any of the Events of Default will constitute a repudiation (but not a termination) of the Lease by Lessee (whether the occurrence of
any such Event of Default is voluntary or involuntary or occurs by operation of Law or pursuant to or in compliance with any judgement, decree or order of any court or any order, rule or regulation of any Government Entity).

  

	13.2	Rights and Remedies. If an Event of Default occurs and Lessee has not remedied such Event of Default, Lessor may at its option (and without prejudice to any of
its other rights under the Lease), at any time thereafter (without notice to Lessee except as required under applicable Law) and subject to compliance with non-waivable mandatory requirements of Law: 

 

	 	(a)	accept such repudiation and by notice to Lessee and with immediate effect cancel the leasing of the Engine (but without prejudice to the continuing rights and
obligations of the parties hereunder that survive cancellation), whereupon all rights of Lessee under the Lease shall cease; and/or 

  

	 	(b)	proceed by appropriate court action or actions to enforce performance of the Lease including the payment of all Rent and all other amounts payable by Lessee to Lessor
or any Indemnitee pursuant to the terms of the Lease; and/or 

  

	 	(c)	proceed by appropriate court action or actions to recover damages for the breach of the Lease which shall include (without duplication of recovery):

  

	 	(i)	all Rent and other amounts which are or become due and payable hereunder prior to the earlier to occur of the date Lessor sells or re-leases the Engine or receives
payment of the amount calculated pursuant to clause (ii) below; 

  

	 	(ii)	an amount equal to the aggregate Rent for the remainder of the Term (determined without reference to any right of Lessor to cancel the leasing of the Engine, whether or
not such right is exercised), discounted periodically (equal to instalment frequency) to present worth at the Discount Rate to the date of payment by Lessee to Lessor, less the applicable amount set forth below: 

 

	 	A.	in the event that Lessor has re-leased the Engine on terms (other than rental payment terms) which, taken as a whole, Lessor reasonably regards as being substantially
similar to the terms of the Lease, an amount equal to the aggregate basic rental payments to become due under such re-lease for the period coinciding with the remainder of the Term (determined without reference to any right of Lessor to cancel the
leasing of the Engine, whether or not such right is exercised), discounted periodically (equal to instalment frequency) to present worth at the Discount Rate to the date of payment by Lessee; or 

 

	 	B.	 in the event that Lessor has not re-leased the Engine or has sold the Engine or has re-leased the Engine on terms (other than rental payment terms)
which, taken as a whole, Lessor does not reasonably regard as being substantially similar to the terms of the Lease, an amount equal to the fair market rental value (determined pursuant to the Appraisal Procedure) of the Engine for the period
commencing with the date that Lessor reasonably anticipates that the Engine could be re-leased at such rental rate and ending with the date that 

  
 31 

	 	
the Term was scheduled to expire (determined without reference to any right of Lessor to cancel the leasing of the Engine, whether or not such right is exercised), discounted periodically (equal
to instalment frequency) to present worth at the Discount Rate to the date of payment by Lessee. 

  

	 	(iii)	all reasonable and documented costs and other incidental damages associated with Lessor’s exercise of its remedies hereunder or otherwise incurred by Lessor as a
result of an Event of Default, including repossession costs, reasonable legal fees, Engine storage, maintenance and insurance costs, and Engine re-lease or sale costs (including, in the case of a re-lease, any costs incurred to transition the Engine
to the next operator’s maintenance program), all such costs and incidental damages being referred to herein collectively as “Enforcement and Remarketing Costs”; 

 

	 	(iv)	any loss, premium, penalty or expense which may be incurred in repaying funds raised to finance the Engine or in unwinding any financial instrument relating in whole or
in part to Lessor’s financing of the Engine, all such amounts being referred to herein collectively as “Unwind Expenses”; 

  

	 	(v)	any loss, cost, expense or liability, or damage to Lessor’s residual interest in the Engine, sustained by Lessor due to Lessee’s failure to maintain the
Engine in accordance with the terms of this Agreement or Lessee’s failure to redeliver the Engine in the condition required by this Agreement, all such amounts being referred to herein collectively as “Engine Condition
Damages”; and 

  

	 	(vi)	such additional amount, if any, as may be necessary to place Lessor in the same economic position, on an After-Tax Basis, as Lessor would have been in if Lessee had
timely performed each of its obligations under this Agreement; and/or 

  

	 	(d)	either: 

  

	 	(i)	enter upon the premises where all or any part of the Engine is located and take immediate possession of and, at Lessor’s sole option in accordance with applicable
Law, remove the Engine, all without liability accruing to Lessor for or by reason of such entry or taking of possession whether for the restoration of damage to property, conversion or otherwise, caused by such entry or taking, except damages caused
by gross negligence or wilful misconduct; or 

  

	 	(ii)	by delivering notice to Lessee, require Lessee to redeliver the Engine to Lessor at GE’s On Wing Support facility in London, England (or such other location as
Lessor may require) on the date specified in such notice and in all respects in the condition required by the Lease upon the Return Occasion (it being understood that Lessee shall not delay any such return for the purpose of placing the Engine in
such condition, but shall nevertheless be liable to Lessor for the failure of the Engine to be in such condition); and/or 

  

	 	(e)	sell at private or public sale, as Lessor may determine, or hold, use, operate or lease to others the Engine as Lessor in its sole discretion may reasonably determine,
all free and clear of any rights of Lessee; and/or 

  
 32 

	 	(f)	by written notice to Lessee specifying a payment date (which shall be a date not earlier than five (5) Business Days following the date of such notice), Lessor may
demand that Lessee pay to Lessor, and Lessee shall pay to Lessor on the payment date specified in such notice (in lieu of the Rent due for the period commencing after the date specified for payment in such notice) the sum of the following amounts:

  

	 	(i)	all Rent and other amounts which are or are expected to become due and payable hereunder prior to the payment date specified by Lessor; 

 

	 	(ii)	an amount equalling the aggregate Rent for the remainder of the Term (determined without reference to any right of Lessor to cancel the leasing of the Engine, whether
or not such right is exercised), discounted periodically (equal to instalment frequency) to present worth at the Discount Rate to the payment date specified by Lessee to Lessor, less the applicable amount set forth below: 

 

	 	A.	in the event that Lessor has re-leased the Engine on terms (other than rental payment terms) which, taken as a whole, Lessor reasonably regards as being substantially
similar to the terms of the Lease, an amount equal to the aggregate basic rental payments to become due under such re-lease for the period coinciding with the remainder of the Term (determined without reference to any right of Lessor to cancel the
leasing of the Engine, whether or not such right is exercised), discounted periodically (equal to instalment frequency) to present worth at the Discount Rate to the date of payment by Lessee; or 

 

	 	B.	in the event that Lessor has not re-leased the Engine or has sold the Engine or has re-leased the Engine on terms (other than rental payment terms) which, taken as a
whole, Lessor does not reasonably regard as being substantially similar to the terms of the Lease, an amount equal to the fair market rental value (determined pursuant to the Appraisal Procedure) of the Engine for the period commencing with the date
that Lessor reasonably anticipates that the Engine could be re-leased at such rental rate and ending with the date that the Term was scheduled to expire (determined without reference to any right of Lessor to cancel the leasing of the Engine,
whether or not such right is exercised), discounted periodically (equal to instalment frequency) to present worth at the Discount Rate to the date of payment by Lessee; 

 

	 	(iii)	an amount equal to Lessor’s reasonably anticipated Enforcement and Remarketing Costs, Unwind Expenses and Engine Condition Damages; and 

 

	 	(iv)	such additional amount, if any, as may be necessary to place Lessor in the same economic position, on an After-Tax Basis, as Lessor would have been in if Lessee had
timely performed each of its obligations under this Agreement; 

  

	 	(v)	 it being understood that, to the extent that any of the foregoing amounts represents an estimate by Lessor of losses, damages, costs or expenses which
Lessor expects to incur, (y) Lessor shall adjust the amount thereof as needed to reflect the actual amount of such losses, damages, costs or expenses incurred by Lessor when substantially all of such amounts become known to Lessor, but Lessee
shall nevertheless be obligated to pay 

  
 33 

	 	
the amount demanded by Lessor (subject to such subsequent adjustment), and (z) notwithstanding the amount specified in such demand. Lessor shall be entitled to claim such other (and greater)
amount in any action against Lessee hereunder; and/or 

  

	 	(g)	draw upon the Deposit or the Letter of Credit and apply such amounts to any owing to Lessor hereunder and/or make demand against any Guarantor for any or all of the
foregoing. 

 In addition to the foregoing, Lessor shall be entitled to exercise such other rights and remedies as
may be available under applicable Law and Lessee shall be liable on an After-Tax basis for, and shall pay Lessor on demand: (i) ***** (by way of contribution to Lessor’s internal costs and expenses) following the occurrence of an Event of
Default under paragraph (a) of Schedule 9 and service by Lessor of a default notice on Lessee in respect of such Event of Default, regardless of whether or not such Event of Default is subsequently cured by Lessee after receipt of such
default notice (ii) interest on all unpaid amounts at the Interest Rate from the due date until the date of payment in full; (iii) all reasonable legal fees and other reasonable costs and expenses incurred by Lessor by reason of the
occurrence of any Event of Default or the exercise of Lessor’s remedies with respect thereto; and (iv) all reasonable expenses, disbursements, costs and fees incurred in (A) repossessing, storing, preserving, shipping, maintaining,
repairing and refurbishing the Engine or any Part to the condition required by Section 12 (Return of Engines) hereof and (B) preparing the Engine or Part for sale or lease, advertising the sale or lease of the Engine or Part and
selling or releasing the Engine or Part. 
 Lessor is hereby authorized and instructed, but shall have no obligation, to make any
expenditures which Lessor, in its sole discretion, considers advisable to repair and restore the Engine or Part to the condition required by such Section 12 hereof (it being understood that Lessee shall be liable for all such expenditures).

 Lessee hereby agrees that, in the event of the return to or repossession by Lessor of the Engine Part, any rights in any
warranty (express or implied) previously assigned to Lessee or otherwise held by Lessee shall without further act, notice or writing be assigned or reassigned Lessor, if assignable. 

No remedy referred to in this Section 13 is intended to be exclusive, but, to the extent permissible under the Lease or under
applicable Law, each shall be cumulative and in addition to any other remedy referred to above or otherwise available to Lessor at Law or in equity; and the exercise or beginning of exercise by Lessor of any one or more of such remedies shall not
preclude the simultaneous or later exercise by Lessor of any or all of such other remedies; provided, however, that nothing in this Section 13 shall be construed to permit Lessor to obtain a duplicate recovery of any element of damages to which
Lessor is entitled. No express or implied waiver by Lessor of any Default or Event of Default shall in any way be, or be construed to be, a waiver of any future or subsequent Default or Event of Default. 

 

	13.3	Power of Attorney: Lessee hereby appoints Lessor as the attorney-in-fact of Lessee, with full authority in the place and stead of Lessee and in the name of
Lessee or otherwise, for the purpose of carrying out the provisions of the Lease and taking any action and executing any instrument that Lessor may deem necessary or advisable to accomplish the purposes hereof; provided, however, that Lessor may
only take action or execute instruments under this Section 13 after an Event of Default has occurred and is continuing. Lessee hereby declares that the foregoing powers are granted for valuable consideration, constitute powers granted as security
for the performance of the obligations of Lessee hereunder and are coupled with an interest and shall be irrevocable. Without limiting the generality of the foregoing or any other rights of Lessor under the Lease, upon the occurrence and during the
continuation of an Event of Default, Lessor shall 

  
 34 

	 	
have the sole and exclusive right and power to (i) settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to or pertaining to the Engine, or the Lease and
(ii) make proof of loss, appear in and prosecute any action arising from any policy or policies of insurance maintained pursuant to the Lease, and settle, adjust or compromise any claims for loss, damage or destruction under, or take any other
action in respect of, any such policy or policies. 

  

	13.4	Sale or Re-Lease. If an Event of Default occurs and the leasing of the Engine under the Lease is terminated in accordance with the provisions hereof, Lessor may
sell or re-lease or otherwise deal with the Engine at such time and in such manner and on such terms as Lessor considers appropriate in its absolute discretion, free and clear of any interest of Lessee, as if the Lease had never been entered into.
Lessor shall have no duty or obligation to sell the Engine, and Lessor shall be obligated to attempt to re-lease the Engine only to the extent, if any, that it is required to do so pursuant to the terms hereof or under Article 2A of the UCC,
and Lessee hereby disclaims any right to compel Lessor to sell or otherwise re-lease the Engine. 

  

	13.5	Removal of Lease from the State of Registry. If an Event of Default occurs, Lessee will at the request of Lessor immediately take all steps necessary to enable
the Engine to be redelivered to Lessor in accordance with and free and clear of the Lease and Lessee hereby irrevocably and by way of security for its obligations under the Lease appoints (which appointment is coupled with an interest) Lessor as its
attorney-in-fact to execute and deliver any documentation and to do any act or thing not prohibited by Law required in connection with the foregoing during the continuance of an Event of Default. Without limiting the foregoing, Lessor may file with
the State of Registry the Lease Termination provided to Lessor under the Lease. 

  

	14.	TRANSFER 

  

	14.1	Lessee. LESSEE WILL NOT ASSIGN, DELEGATE OR OTHERWISE TRANSFER (VOLUNTARILY, INVOLUNTARILY, BY OPERATION OF LAW OR OTHERWISE) ANY OF ITS RIGHTS OR OBLIGATIONS
UNDER THE LEASE (INCLUDING THE ENGINE LEASE AGREEMENT OR THIS CTA), OR CREATE OR PERMIT TO EXIST ANY SECURITY INTEREST OVER ANY OF ITS RIGHTS UNDER THE LEASE (INCLUDING THE ENGINE LEASE AGREEMENT OR THIS CTA), AND ANY ATTEMPT TO DO SO SHALL BE NULL
AND VOID. The foregoing shall not be construed to prohibit a Permitted Sub-Lease. 

  

	14.2	Lessor. Lessor may, without the consent of Lessee, sell, assign, transfer or grant to any Person, any interest in all or any part of Lessor’s rights,
obligations, title or interest in any Engine, any Lease and/or any Rent, whereupon such Person shall become the “Lessor” for all purposes of this Lease, including the rights of assignment pursuant to this Section 14.2. Lessee agrees
to execute acknowledgments and other documents that may be reasonably requested by Lessor or any assignee hereunder (an “Assignee”). Each Assignee will have and may enforce all of the rights and benefits of Lessor transferred to it as if
such Assignee were in fact Lessor, including without limitation the rights to indemnification by Lessee and the right to be named as additional insured and loss payee with respect to the insurance policies maintained by Lessee pursuant to the Lease.
Lessor shall reimburse Lessee for all reasonable out of pocket costs and expenses incurred by Lessee in connection with any assignment or transfer under this Section 14.2. Any sale, assignment, transfer or other disposition pursuant to this
Section 14.2 shall not increase the obligations of Lessee under the Lease. Notwithstanding any such assignment or transfer, Lessor, Owner, Financing Parties’ Representative and each other Indemnitee shall continue to be entitled to
indemnification under Section 10 (Indemnity), and shall continue to be named as an additional insured under all Insurances referred to in Section 9 (Insurance) for a period of not less than two years after such transfer.

  
 35 

	14.3	Binding on Assignees. The terms and provisions of this Lease shall be binding upon and inure to the benefit of Lessor, Lessee and their respective successors and
permitted assigns. 

  

	14.4	Conditions 

 In connection
with any such assignment or transfer by Lessor: 
  

	 	(a)	Quiet Enjoyment: as a condition precedent to such assignment or transfer becoming effective, Lessor will procure that the transferee or any new owner of the
Engine (except where such new owner is also the “Lessor” under the Lease) or any new holder of a security interest over the Engine or any holder of an interest in the Engine or the Lease (by way of security or otherwise), as the case may
be, shall execute and deliver to Lessee a letter of quiet enjoyment in respect of Lessee’s use and possession of the Engine in a form substantially similar to Lessor’s covenant in Section 7.1, and other than in the case of an
assignment solely for security purposes, shall agree, in writing, for the benefit of Lessee to be bound by and perform all obligations of “Lessor” under the Lease; 

 

	 	(b)	Costs: Lessor shall reimburse to Lessee its reasonable out-of-pocket expenses (including reasonable legal fees and expenses) actually incurred in connection with
co-operating with Lessor in relation to any such assignment or transfer referred to in this Section 14, provided that (i) such expenses are substantiated to Lessor’s reasonable satisfaction and (ii) no Default has occurred and is
continuing; 

  

	 	(c)	No additional cost: Lessor shall not be entitled to assign the Lease if at the time of such assignment or transfer an increase in Lessee’s financial or
indemnity obligations would result, or Lessee’s rights in respect of the Lease or the Engine would be restricted or diminished in any material way without the express prior written consent of Lessee (which consent shall not be unreasonably
withheld ); 

  

	 	(d)	No alteration of terms: No such assignment or transfer may be made to the extent such assignment or transfer would increase the financial or indemnity
obligations of Lessee or diminish the rights of Lessee or result in the performance of its then existing obligations being materially more onerous unless and to the extent expressly consented to by Lessee in writing; 

 

	 	(e)	Credit: Lessor shall not, without the prior written consent of Lessee, assign or transfer its obligations under the Lease to an entity having a net worth of less
than ***** immediately after the assignment or transfer. This requirement shall not apply if post transfer, the Engine either continues to be managed by GECAS or the relevant assignee’s or transferee’s obligations to Lessee are supported
by guarantee otherwise) by an entity with a net worth of at least *****; and 

  

	 	(f)	Competitor of Lessee: No such assignment or transfer shall be made by Lessor to an airline or its parent company in competition with Lessee (in the sense that
(i) the airline operates a comparable service to that of Lessee on at least ***** of the routes operated by Lessee or (ii) the routes operated by such airline account for at least ***** of the revenue generated by Lessee on such routes).

  

	15.	MISCELLANEOUS 

  

	15.1	Survival. Lessee’s obligations under any provision of the Lease providing for an obligation on the part of Lessee to indemnify Lessor or any other
Indemnitee shall survive the expiration or any termination of the leasing of the Engine under the Lease and continue in full force and effect. Lessor’s obligations under any provision of the Lease providing for an obligation on

  
 36 

	 	
the part of Lessor to pay any amounts due and owing to Lessee following the termination of the leasing of the Engine under the Lease shall survive the expiration or any termination of the Lease
and continue in full force and effect. 

  

	15.2	Waivers, Remedies Cumulative. The rights of the parties under the Lease mar be exercised as often as necessary, are cumulative and not exclusive of its rights
under any Law; and may be waived only in writing and specifically by the party against whom enforcement of such provision is sought. A delay by any party in exercising, or non-exercise of, any such right will not constitute a waiver of that right.

  

	15.3	Delegation. Lessor may delegate to any Person all or any of the rights, powers or discretions vested in it by the Lease, and any such delegation may be made upon
such terms and conditions and subject to such regulations (including power to sub-delegate) as Lessor in its reasonable discretion thinks fit; provided however, that the exercise of any such rights, powers or discretions shall always remain
subject to and be exercised in accordance with the terms of the Lease and Lessee’s rights in respect thereof. 

  

	15.4	Severability. If a provision of the Lease is or becomes illegal, invalid or unenforceable in any jurisdiction, that will not affect the legality, validity or
enforceability in that jurisdiction of any other provision of the Lease or the legality, validity or enforceability in any other jurisdiction of that or any other provision of the Lease. 

 

	15.5	Remedy. If Lessee fails to comply with any provision of the Lease and such failure shall continue beyond any applicable cure period, Lessor may, without being in
any way obliged to do so or responsible for so doing and without prejudice to the ability of Lessor to treat such non-compliance as a Default, effect compliance on behalf of Lessee, whereupon Lessee shall become liable to pay upon demand any sums
expended by Lessor together with all costs and expenses (including reasonable legal fees and expenses) in connection with the noncompliance. 

  

	15.6	Time of Essence. The time stipulated for all payments and the prompt, punctual performance of all obligations under the Lease are of the essence.

  

	15.7	Notices. All notices under, or in connection with, the Lease will, unless otherwise stated, be given in writing by means of an overnight courier service or
facsimile. Any such notice is deemed effectively to be given when received by the recipient (or if receipt is refused by the intended recipient, when so refused). 

 The addresses and facsimile and telephone numbers of Lessee and Lessor are as set forth in the Engine Lease Agreement. 
  

	15.8	Governing Law; Jurisdiction; WAIVER OF JURY TRIAL 

  

	 	(a)	PURSUANT TO AND IN ACCORDANCE WITH SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW, THE PARTIES HERETO AGREE THAT THE LEASE IN ALL RESPECTS SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, UNITED STATES, AS APPLIED TO CONTRACTS TO BE PERFORMED WHOLLY WITHIN THE STATE OF NEW YORK (EXCLUSIVE OF SECTION 7-101 OF THE NEW YORK GENERAL OBLIGATIONS LAW
WHICH IS INAPPLICABLE TO THE LEASE) THE PARTIES AGREE THAT THE LEASE WAS EXECUTED AND DELIVERED IN THE STATE OF NEW YORK. 

  

	 	(b)	 Pursuant to and in accordance with Section 5-1402 of the New York General Obligations Law, Lessee and Lessor each agree that the United States
District Court for the Southern District of New York and any New York court sitting in the 

  
 37 

	 	
County of New York, New York, and all related appellate courts, are to have nonexclusive jurisdiction to settle any disputes arising out of or relating to the Lease and submits itself and its
property to the non-exclusive jurisdiction of the foregoing courts with respect to such disputes. 

  

	 	(c)	Without prejudice to any other mode of service, Lessee: 

  

	 	(i)	appoints Corporation Service Company (CSC), 1133 Avenue of the Americas, Suite 3100, New York, New York 10036, as its agent for service of process relating to any
proceedings before the New York courts in connection with the Lease and agrees to maintain the process agent in New York notified to Lessor; 

  

	 	(ii)	agrees that failure by a process agent to notify Lessee of the process shall not invalidate the proceedings concerned; 

 

	 	(iii)	consents to the service of process relating to any such proceedings by prepaid mailing of a copy of the process to Lessee’s agent at the address identified in
paragraph (i) or by prepaid mailing by air mail, certified or registered mail of a copy of the process to Lessee at the address set forth in Section 15.7. 

 

	 	(d)	Each of Lessor and Lessee: 

  

	 	(i)	waives to the fullest extent permitted by Law any objection which it may now or hereafter have to the courts referred to in Section 15.8(b) above on grounds of
inconvenient forum or otherwise as regards proceedings in connection with the Lease; 

  

	 	(ii)	waives to the fullest extent permitted by Law any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of
or relating to the Lease brought in the courts referred to in Section 15.8(b); and 

  

	 	(iii)	agrees that a final, non-appealable judgement or order of any court referred to in Section 15.8(b) in connection with the Lease is conclusive and binding on it and
may be enforced against it in the courts of any other jurisdiction. 

  

	 	(e)	Nothing in this Section 15.8 limits the right of either party to bring proceedings against the other in connection with the Lease in any other court of competent
jurisdiction or concurrently in more than one jurisdiction. 

  

	 	(f)	Each of Lessee and Lessor irrevocably and unconditionally: 

  

	 	(i)	agrees that if the other brings legal proceedings against it or its assets in relation to the Lease no sovereign or other immunity from such legal proceedings (which
will be deemed to include suit, court jurisdiction, attachment prior to judgement, attachment in aid of execution of a judgement, other attachment, the obtaining of judgement, execution of a judgement or other enforcement or legal process or remedy)
will be claimed by or on behalf of itself or with respect to its assets; and 

  

	 	(ii)	waives any such right of immunity which it or its assets now has or may in the future acquire and agrees that the foregoing waiver shall have the fullest extent
permitted under the Foreign Sovereign immunities Act of 1976 of the United States and is intended to be irrevocable for the purposes of such Act. 

  
 38 

	 	(g)	EACH OF LESSEE AND LESSOR HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY AND ALL RIGHTS TO A JURY TRIAL IN RESPECT OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR
ARISING OUT OF THE LEASE OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THE TRANSACTIONS CONTEMPLATED THEREBY OR THE LESSOR/LESSEE RELATIONSHIP BEING ESTABLISHED, including, without limitation, contract claims, tort claims, breach of
duty claims and other common law and statutory claims. Each of Lessor and Lessee represents and warrants that each has reviewed and voluntarily waives its jury trial rights following consultation with its legal counsel. THIS WAIVER IS IRREVOCABLE,
AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THE LEASE. In the event of litigation, this Section may be filed as & written consent to a trial by the court. 

 

	15.9	Sole and Entire Agreement; True Lease 

  

	 	(a)	Entire Agreement: The Lease is the sole and entire agreement between Lessor and Lessee in relation to the leasing of the Engine, and supersedes all previous
agreements in relation to that leasing. Any amendments to the Lease must be made in writing and signed on behalf of Lessor and Lessee. 

  

	 	(b)	True Lease: The parties intend and agree that the Lease: 

  

	 	(i)	constitutes a “true lease”, and not a “security interest” as defined in Section1-201(37) of the UCC; 

 

	 	(ii)	constitutes a “true lease” for United States Federal income tax purposes; and 

 

	 	(iii)	confers only a leasehold interest on Lessee in and to the Engine on and subject to the terms of the Lease, and no ownership or other interest with respect to the Engine
is provided to Lessee under the Lease. 

 Subject to Section 8.6(b), Lessee shall not file a tax return that
is inconsistent with the provisions of this Section 15.9(b). 
  

	15.10	Beneficiaries. The Lease shall be binding upon and inure to the benefit of Lessor, Lessee and their permitted successors and assigns. All rights expressed to be
granted to each Indemnitee (other than Lessor) under the Lease are given to Lessor on behalf of that Indemnitee, and each Indemnitee is an express third party beneficiary thereof. 

 

	15.11	Counterparts. The Lease may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one
and the same instrument. To the extent, if any, that the Lease constitutes chattel paper (as such term is defined in the UCC or similar legislation), no security interest in the Lease may be created through the transfer or possession of any
counterpart other than the original counterpart, which shall be identified as the counterpart designated as the “original” on the signature page of the Engine Lease Agreement by Financing Parties’ Representative, Owner or Lessor, as
the case may be. 

  

	15.12	Language. All notices to be given under the Lease will be in English. All documents delivered to Lessor pursuant to the Lease (including any documents to be
delivered pursuant to the Conditions Precedent) will be in English, or if not in English, will be accompanied by a certified English translation. 

  
 39 

	16.	DISCLAIMERS AND WAIVERS 

LESSOR AND LESSEE AGREE THAT THE DISCLAIMERS, WAIVERS AND CONFIRMATIONS SET FORTH IN SECTIONS 16.1 TO 16.4 BELOW SHALL APPLY AT ALL
TIMES DURING THE TERM. LESSEE’S ACCEPTANCE OF THE ENGINE IN ACCORDANCE WITH SECTION 4.3 (DELIVERY AND ACCEPTANCE) SHALL BE CONCLUSIVE EVIDENCE AS BETWEEN LESSOR AND LESSEE THAT LESSEE HAS FULLY INSPECTED THE ENGINE AND EVERY PART
THEREOF AND THAT THE ENGINE, THE PARTS AND THE ENGINE DOCUMENTS ARE TECHNICALLY ACCEPTABLE TO LESSEE AND SATISFY THE DELIVERY CONDITION REQUIREMENTS AND ARE IN SUITABLE CONDITION FOR DELIVERY TO AND ACCEPTANCE BY LESSEE. 

 

	16.1	Exclusion. THE ENGINE IS LEASED AND DELIVERED UNDER THE LEASE “AS IS, WHERE IS,” AND LESSEE AGREES AND ACKNOWLEDGES THAT:

  

	 	(a)	LESSOR WILL HAVE NO LIABILITY IN RELATION TO, AND LESSOR HAS NOT AND WILL NOT BE DEEMED TO HAVE ACCEPTED, MADE OR GIVEN (WHETHER BY VIRTUE OF HAVING DONE OR FAILED TO
DO ANY ACT, OR HAVING ACQUIRED OR FAILED TO ACQUIRE ANY STATUS UNDER OR IN RELATION TO THE LEASE OR OTHERWISE), ANY GUARANTEES, COVENANTS, WARRANTIES OR REPRESENTATIONS (OTHER THAN AS SET FORTH IN SCHEDULE 2 HERETO IN RELATION TO LESSOR),
EXPRESS OR IMPLIED, WITH RESPECT TO, THE ENGINE OR ANY PART OR ANY SERVICES PROVIDED BY LESSOR UNDER THE LEASE, INCLUDING (BUT NOT LIMITED TO) THE TITLE (EXCEPT AS AND TO THE EXTENT EXPRESSLY PROVIDED IN SECTION 7.1 (QUIET
ENJOYMENT)), DESCRIPTION, AIRWORTHINESS, COMPLIANCE WITH SPECIFICATIONS, OPERATION, MERCHANTABILITY, QUALITY, FREEDOM FROM INFRINGEMENT OF PATENT, COPYRIGHT, TRADEMARK OR OTHER PROPRIETARY RIGHTS, FITNESS FOR ANY PARTICULAR USE
OR PURPOSE, VALUE, DURABILITY, DATE PROCESSING, CONDITION, OR DESIGN, OR AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP, THE ABSENCE OF LATENT OR OTHER DEFECTS, WHETHER OR NOT DISCOVERABLE, OR AS TO ANY OTHER MATTER WHATSOEVER, EXPRESS OR
IMPLIED (INCLUDING ANY IMPLIED WARRANTY ARISING FROM A COURSE OF PERFORMANCE OR DEALING OR USAGE OF TRADE) WITH RESPECT TO THE ENGINE OR ANY PART OR. ANY SERVICES PROVIDED BY LESSOR UNDER THE LEASE; AND 

 

	 	(b)	LESSOR SHALL NOT HAVE ANY OBLIGATION OR LIABILITY WHATSOEVER TO LESSEE (WHETHER ARISING IN CONTRACT OR IN TORT, AND WHETHER ARISING BY REFERENCE TO NEGLIGENCE,
MISREPRESENTATION OR STRICT LIABILITY OF LESSOR OR OTHERWISE) FOR: 

  

	 	(i)	ANY LIABILITY, LOSS OR DAMAGE CAUSED OR ALLEGED TO BE CAUSED DIRECTLY OR INDIRECTLY BY THE ENGINE OR BY ANY INADEQUACY THEREOF OR DEFICIENCY OR DEFECT THEREIN OR BY ANY
OTHER CIRCUMSTANCE IN CONNECTION THEREWITH (EXCEPT FOR DIRECT DAMAGES DUE TO LESSOR’S BREACH AS AND TO THE EXTENT EXPRESSLY PROVIDED IN SECTION 7.1 (QUIET ENJOYMENT) HEREOF); 

 

	 	(ii)	THE USE, OPERATION OR PERFORMANCE OF THE ENGINE OR ANY RISKS RELATING THERETO; 

  
 40 

	 	(iii)	ANY INTERRUPTION OF SERVICE, LOSS OF BUSINESS OR ANTICIPATED PROFITS OR ANY OTHER DIRECT (EXCEPT FOR DIRECT DAMAGES DUE TO LESSOR’S BREACH AS PROVIDED IN SECTION
7.1), SPECIAL, INCIDENTAL, INDIRECT OR CONSEQUENTIAL LOSS OR DAMAGE; OR 

  

	 	(iv)	THE DELIVERY, OPERATION, SERVICING, MAINTENANCE, REPAIR, IMPROVEMENT OR REPLACEMENT OF THE ENGINE OR ANY PART. 

 

	16.2	Waiver. LESSEE HEREBY WAIVES, AS BETWEEN ITSELF AND LESSOR, ALL ITS RIGHTS IN RESPECT OF ANY CONDITION, WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, ON THE
PART OF LESSOR AND ALL CLAIMS AGAINST LESSOR HOWSOEVER AND WHENEVER ARISING AT ANY TIME IN RESPECT OF OR OUT OF ANY OF THE MATTERS REFERRED TO IN SECTION 16.1. 

 

	16.3	Disclaimer Of Consequential Damages. 

  

	 	(a)	LESSEE AGREES THAT IT SHALL NOT BE ENTITLED TO RECOVER, AND HEREBY DISCLAIMS AND WAIVES ANY RIGHT THAT IT MAY OTHERWISE HAVE TO RECOVER, FOR INTERRUPTION OF SERVICE,
LOSS OF BUSINESS, LOST PROFITS OR REVENUES OR CONSEQUENTIAL DAMAGES (AS DEFINED IN SECTION 2A-520 OF THE UCC OR OTHERWISE) OR ANY SPECIAL OR INDIRECT DAMAGES AS A RESULT OF ANY BREACH OR ALLEGED BREACH BY LESSOR OF ANY OF THE AGREEMENTS,
REPRESENTATIONS OR WARRANTIES OF LESSOR CONTAINED IN THE LEASE (INCLUDING A BREACH BY LESSOR UNDER SECTION 7.1). 

  

	 	(b)	LESSOR AGREES THAT IT SHALL NOT BE ENTITLED (EXCEPT AS OTHERWISE EXPRESSLY SET FORTH HEREIN) TO RECOVER, AND HEREBY DISCLAIMS AND WAIVES ANY RIGHT THAT IT MAY OTHERWISE
HAVE TO RECOVER CONSEQUENTIAL DAMAGES OR ANY SPECIAL DAMAGES AS A RESULT OF ANY BREACH OF ALLEGED BREACH BY LESSEE OF ANY OF THE AGREEMENTS, REPRESENTATIONS OR WARRANTIES OF LESSEE CONTAINED IN THE LEASE. 

 

	16.4	Confirmation. LESSEE CONFIRMS THAT IT IS FULLY AWARE OF THE PROVISIONS OF THIS SECTION 16 AND ACKNOWLEDGES THAT RENT AND OTHER AMOUNTS PAYABLE UNDER THE
LEASE HAVE BEEN CALCULATED BASED ON ITS PROVISIONS. 

  

	17.	BROKERS AND OTHER THIRD PARTIES 

  

	17.1	No Brokers. Each of the parties hereby represents and warrants to the other that it has not paid, agreed to pay or caused to be paid directly or indirectly in
any form, any commission, percentage, contingent fee, brokerage or other similar payments of any kind, in connection with the establishment or operation of the Lease, to any Person (other than fees payable to legal advisers or portfolio services).

  

	17.2	Indemnity. Each party agrees to indemnify and hold the other harmless from and against any and all claims, suits, damages, costs and expenses (including,
reasonable legal fees and expenses) asserted by any agent, broker or other third party for any commission or compensation of any nature whatsoever based upon the Lease or the Engine, if such claim, suit, damage, cost or expense arises out of any
breach by the indemnifying party, its employees or agents of Section 17.1. 

  
 41 

 IN WITNESS WHEREOF the parties hereto have duly executed and delivered this Common Terms Agreement on
the date shown at the beginning of the document. 
  

			
	GE COMMERCIAL AVIATION SERVICES LIMITED
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

  

			
	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 SCHEDULE 1 
 DEFINITIONS 
 The following words and expressions have the respective meanings set forth
below: 
 Act means the Federal Aviation Act of 1958, as amended, and as recodified in Title 49 U.S.C. pursuant to public Law
103-272, or any similar legislation of the United States enacted in substitution or replacement thereof. 
 AD or AD/CN means an
airworthiness directive or equivalent issued by the State of Design or the State of Registry. 
 Affiliate means as to any Person, any
other Person that, directly or indirectly, is in control of, is controlled by, or is under common control with, such Person. For purposes of this definition, “control” of a Person means the power, directly or indirectly, either to
(a) vote 50% or more of the securities having ordinary voting power for the election of directors (or persons performing similar functions) of such Person or (b) direct or cause the direction of the management and policies of such Person,
whether by contract or otherwise. 
 After-Tax Basis means in the case of any amount payable on an “After-Tax Basis” to or for
the benefit of any Person (including any amount payable pursuant to this definition), after deduction of the net amount of all Taxes required to be paid by such Person with respect to the receipt or accrual by it of such amount (and assuming that
such Person is subject to (i) United States federal income tax at the highest marginal statutory rate imposed on corporations in the highest taxable income bracket for the relevant period, (ii) United States state and local income taxes at
the composite of the highest marginal statutory rates imposed on such Person for the relevant period, as such composite rate shall be certified by a financial officer of such Person, and (iii) income taxes (if any) imposed by countries outside
the United States at the actual rates imposed on such Person), that Person receives the required amount. 
 Air Authority means the civil
aviation authority (howsoever described) of the State of Registry. 
 Appraisal Procedure means the following procedure for determining
the “fair market rental value” of the Engine: (a) Lessor shall, acting reasonably, select two (2) internationally recognized and independent engine appraisers who shall make a determination of “fair market rental value”
of the Engine based on customary market practices and procedures, and the “fair market rental value” assessed by such two appraisers shall be averaged to the extent to which there is a difference in the values assessed by such appraisers;
and (b) the reasonable fees and expenses of the appraisers shall be paid by Lessee. “Fair market rental value” shall mean the value determined by an appraisal completed on an “as-is” and “where-is” basis which
would be obtained in an arm’s length transaction between an informed and willing lessee under no compulsion to lease and an informed and willing lessor in possession and under no compulsion to lease, assuming a lease term equal to the remaining
Term of the Lease (determined without reference to any right of Lessor to cancel the leasing of the Engine whether or not such right is exercised). 
 Business Day means any day other than a Saturday, Sunday or other day on which banking institutions in New York, New York or Mexico City are authorized or required by Law to be closed. 

Cape Town Convention means the Convention on International Interests in Mobile Equipment and its Protocol on Matters Specific to Aircraft
Equipment, concluded in Cape Town on 16 November 2001. 
 Certificate of Acceptance means a certificate of acceptance in the form of
Schedule 5 (Certificate of Acceptance). 
 CSN means Engine Cycles since new. 

  
 43 

 CSO means Engine Cycles since overhaul. 
 CTA the meaning given in the heading of this Agreement. 
 Default means any Event of
Default or any event or circumstance which, with the giving of notice and/or lapse of time and/or determination of materiality and/or fulfillment of any other condition, would constitute an Event of Default. 

Delivery means delivery of the Engine by Lessor to Lessee under the Lease. 
 Delivery Date means the date on which Delivery occurs. 
 DER means a designated
engineering representative. 
 Dollars and $ means the lawful currency of the United States. 

EASA means the European Aviation Safety Agency. 
 EMM means the Manufacturer’s Engine Maintenance Manual. 
 Engine means each
Engine as defined in one or more Engine Lease Agreements, including any engine stand and any other equipment related to any Engine as described in and subject to that Engine Lease Agreement and in each case includes all modules and Parts from time
to time belonging to or installed in that Engine but excludes any properly replaced Part, title to which has passed to Lessee pursuant to the Lease. 
 Engine Cycle means operation of an Engine on a Related Airframe from and including a take-off to and including the landing of that Related Airframe. 

Engine Documents means the documents, data and records identified in the list attached to the Certificate of Acceptance, and any other documents
and records required in connection with Lessee’s obligations under Section 8.8 (Records), and all additions, renewals, revisions and replacements from time to time made to any of the foregoing in accordance with the Lease.

 Engine Flight Hour means each hour or part thereof an Engine is operated, elapsing from the moment the wheels of a Related Airframe on
which such Engine is installed leave the ground until the wheels of such Related Airframe next touch the ground. 
 Engine Lease Agreement
means an Engine Lease Agreement entered, or to be entered into, between Lessor and Lessee with respect to an Engine and any related equipment as further described therein. 
 Engine Refurbishment means, with respect to any Engine, the complete visual inspection and repair as necessary in accordance with the shop manual of the combustion section of an Engine in an engine
repair/overhaul station, including, (without limitation) complete unsticking of the high pressure turbine and low pressure turbine (including both high and low compressors); complete visual inspection, de-blading of discs as required; visual
inspections of all discs; verification that all snap diameters on discs are within limits; inspection of all blades for proper chord dimensions and cracking; repair or replacement of all blades below minimums; inspection and repair of stators as
necessary; blade-up of discs using new lock plates; assembly of rotors in the turbine; balance of all rotors; and installation of rotors in the Engine.] [Modified wording is necessary for Rolls-Royce engines: please refer to Engine
Management.] 
 Equipment Change has the meaning given in Section 8.12 (Equipment Change). 

Event of Default means any event or condition specified in Schedule 9 (Events of Default). 

  
 44 

 Event of Loss means with respect to any Engine: 

 

	 	(a)	the actual or constructive, compromised, arranged or agreed total loss of the Engine; or 

 

	 	(b)	the Engine being destroyed, damaged beyond reasonable economic repair as determined by Lessor (acting reasonably) or permanently rendered unfit for normal use for any
reason whatsoever; or 

  

	 	(c)	the Engine being condemned, confiscated or requisitioned for title, or title to the Engine being otherwise compulsorily acquired by the government of the State of
Registry or any other Government Entity, but excluding requisition for use not involving requisition of title; or 

  

	 	(d)	the Engine being hijacked, stolen, confiscated, detained, seized, condemned or requisitioned for use or hire for the lesser of (i) a period of more than
30 days (or 90 days in the case of requisition for use or hire by the government of the State of Registry) or (ii) a period equal to or exceeding the remaining balance of the Term; or 

 

	 	(e)	as a result of any rule, regulation, order or other action by the FAA or the Air Authority the use of the Engine by Lessee or any Permitted Sub-Lessee shall have been
prohibited for a period of twelve (12) consecutive months. 

 Expiry Date means the Scheduled Expiry Date or, if
earlier (i) the date when Lessor acting in accordance with the provisions of the Lease, terminates the leasing of the Engine to Lessee under the Lease, or (ii) subject to the provisions of Section 11.1 (Events of Loss) and 11.2
(Requisition), the date when Lessor receives the Agreed Value together with any other amounts then due and unpaid under the Lease and the Other Agreements following an Event of Loss; provided, that if the Term is extended pursuant to
Section 12.2 (Non-Compliance), the Expiry Date shall be extended to the date to which the Term is extended pursuant to Section 12.2. 
 FAA means the Federal Aviation Administration of the United States and any successor thereof. 
 FAR means the Federal Aviation Regulations set forth in Title 14 of the United States Code of Federal Regulations, as amended and modified from time to time. 

FAR Part 121 means Part 121 of the FAR, as amended or modified from time to time. 

FAR Part 145 means Part 145 of the FAR, as amended or modified from time to time. 

Final Inspection has the meaning given in Section 1.1 of Schedule 6 (Procedures and Operating Condition at Redelivery).

 Financial Indebtedness means any indebtedness in respect of: 

 

	 	(a)	moneys borrowed or raised; 

  

	 	(b)	any liability under any debenture, bond, note, loan stock, acceptance, documentary credit or other security; 

 

	 	(c)	the acquisition cost of any asset to the extent payable before or after the time of acquisition or possession (exclusive of trade payables); or

  

	 	(d)	any guarantee, indemnity or similar assurance against financial loss of any person in respect of the above. 

  
 45 

 Financial Information means: 

 

	 	(a)	as soon as available but not in any event later than 60 days after the last day of each fiscal quarter of Lessee, the consolidated financial statements of Lessee
(consisting of a balance sheet and statements of operations and of retained earnings and cash flows) prepared for the most recent previous fiscal quarter certified by a qualified financial officer of Lessee as being true and correct and fairly
presenting its financial condition and results of operation in accordance with GAAP (subject to year-end adjustments); and 

  

	 	(b)	as soon as available but not in any event later than 120 days after the last day of each fiscal year of Lessee, the audited combined financial statements of Lessee
(consisting of a balance sheet and statements of operations and of retained earnings and cash flows), prepared for the fiscal year then most recently ended certified by the independent auditors of Lessee without qualification.

 Financing Statements means UCC Financing Statements in respect of the Lease and the Engines leased thereunder prepared
in a form acceptable for filing with the applicable Government Entities in the state in which Lessee’s chief executive office is located (as the term “chief executive office” is defined in Article 9 of the UCC as in effect in
such state) and such other jurisdictions as Lessor shall reasonably require. 
 FOD means foreign object damage. 

GAAP means, unless otherwise agreed by Lessor and Lessee in writing, generally accepted accounting principles in the United Mexican States.

 GE Capital means General Electric Capital Corporation. 
 GECAS means either or both of GE Commercial Aviation Services, LLC and GE Commercial Aviation Services Limited. 
 Government Entity means (a) a national government, political subdivision thereof, or local jurisdiction therein; (b) any instrumentality, board, commission, court, or agency of any of the
above, however constituted; and (c) any association, organization, or institution of which any of the above is a member or to whose jurisdiction any thereof is subject or in whose activities any of the above is a participant. 

Guarantee means, if applicable, a guarantee in form and substance reasonably acceptable to Lessor, and references to the Guaranty include any
replacement or re-issued guaranty. 
 Habitual Base means the location of the Engine’s primary base of operation, as specified in
the Engine Lease Agreement. 
 IFSD means in-flight service difficulty. 
 Insurance means the insurance in respect of the Engine in form and substance satisfactory to Lessor, and includes any insurance and reinsurance required by Section 9 (Insurance) and
Schedule 7 (Insurance Requirements). 
 International Registry means the registry established pursuant to the Cape
Town Convention. 
 Law means and includes (a) any statute, decree, constitution, regulation, order, judgement or other directive of
any Government Entity; (b) any treaty, pact, compact or other agreement to which any Government Entity is a signatory or party; (c) any judicial or administrative interpretation or application of any Law described in (a) or
(b) above; and (d) any amendment or revision of any Law described in (a), (b) or (c) above. 

  
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 Lease means an Engine Lease Agreement for an Engine (of which this CTA forms a part), any schedules
or documents executed pursuant to the Schedules hereto or pursuant to the Engine Lease Agreement, any Lease Supplement to the Lease, and any side letters related to the Lease. 
 Lease Termination means a Certificate of Lease Termination, substantially in the form of Schedule 10 (Form of Lease Termination Certificate). 

Lessee Conditions Precedent means the conditions specified in Part B of Schedule 3 (Conditions Precedent). 

Lessor Conditions Precedent means the conditions specified in Part A of Schedule 3 (Conditions Precedent). 

Lessor Lien means any Security Interest whatsoever from time to time created by Lessor or Owner in connection with the financing of the Engine,
including the Financing Documents, and any other Security Interest in the Engine which results from acts or omissions of or claims against Lessor or Owner that do not relate to the transactions contemplated by the Lease and is not attributable to
Lessee. 
 Lessor Taxes means Taxes for which Lessee is not obligated to indemnify Lessor and/or Owner and/or a Financing Party as
provided in Section 5.8 (Lessor Taxes). 
 Letter of Credit means any letter of credit issued in relation to the Lease
pursuant to Section 5.14 (Letter of Credit) and any replacement or renewal of that letter of credit. 
 Line Maintenance
means with respect to any Engine, routine scheduled line maintenance of any Engine, including without limitation, preventive maintenance tests, system checks and related necessary work as recommended by Manufacturer or required by the Air Authority.

 LLP means life limited Parts. 
 Losses means any and all cost, expense (including any and all reasonable legal fees and expenses and the fees and expenses of other professional advisers), claims, proceedings, losses, liabilities,
obligations, damages (whether direct, indirect, special, incidental or consequential), suits, judgements, fees, penalties or fines (whether criminal or civil) of any kind or nature whatsoever, including any of the foregoing arising or imposed with
or without any Indemnitee’s fault or negligence, whether passive or active or under the doctrine of strict liability. 
 Maintenance
Adjustment means an amount as specified in the Engine Lease Agreement in respect of Engine Supplemental Rent and Engine LLP Supplemental Rent. 
 Maintenance Contributions means, as and if applicable, all amounts payable by Lessor pursuant to Section 7.2 (Maintenance Contributions). 

Maintenance Performer means such Person as is approved by the Air Authority to perform maintenance and/or modification services on commercial
aircraft engines, which Person shall be agreed by Lessee and Lessor to have recognized standing and experience, and suitable facilities and equipment to perform such services on aircraft engines of the same or improved model as the Engines.

 Maintenance Program means an Air Authority and FAA approved maintenance program for the Engine in accordance with the
Manufacturer’s specifications, service bulletins, planning documents, maintenance manuals and documents and encompassing scheduled maintenance, condition-monitored 

  
 47 

 
maintenance, and/or on-condition maintenance of Engines and Parts, including servicing, testing. preventive maintenance, repairs, structural inspections, system checks, overhauls, approved
modifications, engineering orders, ADs, corrosion control, inspections and treatments. 
 Manufacturer means the manufacturer of each
Engine or any separate item of Equipment as identified in Schedule A to each Engine Lease Agreement. 
 MPD means Manufacturer’s
Maintenance Planning Document. 
 Nameplate Inscription means the inscription to be included on the Nameplates as reasonably requested by
Lessor from time to time. 
 Nameplates means the fireproof plates to be installed on the Engine in accordance with Section 8.6(a).

 OEM means, in relation to any Part, the original equipment manufacturer of such Part. 

Other Agreements means any aircraft, engine or spare parts related lease or financing agreement or other agreement (including an aircraft, engine
or spare parts related loan, hire purchase, conditional sale, credit sale or security agreement) from time to time entered into between Lessor (or any Subsidiary, Associate or Affiliate of Lessor), on the one hand, and Lessee on the other hand.

 Part means, whether or not installed on any Engine: 
  

	 	(a)	any component, module, furnishing or equipment (other than a complete Engine or engine) incorporated or installed in or attached to or furnished with the Engine on the
Delivery Date or thereafter if paid for or otherwise provided by or on behalf of Lessor; and 

  

	 	(b)	any other component, furnishing or equipment (other than a complete Engine or engine), with effect from the time when title thereto has passed to Owner pursuant to the
Lease; 

  

	 	(c)	but excludes any such items title to which has passed to Lessee pursuant to the Lease. 

 Part 121 or FAR Part 121 means Part 121 of the FAR, as amended or modified from time to time. 
 Permitted Lien means: 
  

	 	(a)	any lien for Taxes not assessed or, if assessed, not yet due and payable, or being diligently contested in good faith by appropriate proceedings;

  

	 	(b)	any lien of a repairer, mechanic, hangar-keeper, airport or air navigation authority or other similar lien arising in the ordinary course of business by operation of
Law in respect of obligations which are not overdue or are being diligently contested in good faith by appropriate proceedings; 

  

	 	(c)	any Lessor Lien; 

  

	 	(d)	the rights of Lessor and Lessee respectively under the Lease; and 

  

	 	(e)	rights of others under any sub-lease or arrangements to the extent expressly permitted under Section 8.4 (Subleasing); 

but only if (in the case of both (a) and (b)) (i) adequate reserves have been provided by Lessee for the payment of such Faxes or obligations;
and (ii) such proceedings, or the continued existence of the lien. do not give rise to any risk of the sale, forfeiture or other loss of the Engine or any interest therein or of criminal liability on the part of Lessor or Owner. 

  
 48 

 Permitted Sub-Lease means any sub-lease of the Engine to a Permitted Sub-Lessee to which Lessor has
consented as provided for in Section 8.4(a) (Subleasing). 
 Permitted Sub-Lessee means any sub-lessee of the Engine to which
Lessor has consented as provided in Section 8.4(a) (Subleasing). 
 Person means any individual person, any form of corporate
or business association, trust, Government Entity, or organization or association of which any of the above is a member or a participant. 

Pre-Delivery Procedure means the procedure leading to Delivery as specified in Schedule 4 (Pre-Delivery Procedures and
Delivery Condition Requirements). 
 Protocol means the Protocol to the Cape Town Convention On Matters Specific To Aircraft
Equipment signed in November 2001, which is sometimes also referred to as the “Aircraft Equipment Protocol.” 
 QEC means quick
engine change kits as specified in the Engine Lease Agreement. 
 Recognition of Rights Agreement means an executed acknowledgement
substantially in the form of Schedule 11 (Recognition of Rights Agreement). 
 Regulations means any Law or
regulation, official directive or recommendation, mandatory requirement, or contractual undertaking, or airworthiness requirements or limitations, which applies to Lessee or the Engine and any Law or regulation, official directive or recommendation
or mandatory requirement which applies to Lessor, Owner, Financing Parties’ Representative or GECAS. 
 Related Airframe means with
respect to any Engine, the airframe, of the Related Airframe Type, on which such Engine is, or is to be, installed, as identified in the Engine Lease Agreement or otherwise, but such airframe shall be a Related Airframe only so long as the Engine is
so installed thereon, being installed thereon or being removed therefrom. 
 Related Airframe Type has the meaning given in the Engine
Lease Agreement. 
 Rental Period means each period ascertained in accordance with Section 5.2 (Rental Periods). 

Rent Date means the first day of each Rental Period. 
 Required LC Expiry Date means the date being ninety-one (91) days after the Expiry Date. 
 Return Occasion means the date on which the Engine is redelivered to Lessor in accordance with Section 12 (Return of Engines). 
 SB means service bulletin. 
 Scheduled Delivery Date is defined in the Engine Lease
Agreement or, if no such date is defined therein, the date notified to Lessee by Lessor pursuant to Section 4.1(a). 
 Scheduled
Delivery Month is defined in the Engine Lease Agreement. 
 Security Interest means any mortgage, chattel mortgage, security
interest, charge, pledge, lien, conditional sale agreement, title retention agreement, equipment trust agreement, encumbrance, assignment, hypothecation, right of detention, right of set-off or any other agreement or arrangement having the effect of
conferring security. 

  
 49 

 State of Design means the state having jurisdiction over the Person responsible for the type design
of the Engine or Part. 
 State of Incorporation means the state of organization of the applicable Person as identified in the heading of
the Engine Lease Agreement. 
 State of Registry means the state of registry of any Related Airframe as defined in the Engine Lease
Agreement. 
 Subsidiary means: 
  

	 	(a)	in relation to any reference to financial statements, any Person whose financial statements are consolidated with the accounts of Lessee in accordance with GAAP; and

  

	 	(b)	for any other purpose, an entity from time to time of which another has direct or indirect control or owns directly or indirectly more than 50 percent of the
voting share capital or similar equity interests. 

 Supplemental Rent means, as and if applicable, all amounts payable
under the Lease in respect of each of Engine Supplemental Rent and Engine LLP Supplemental Rent. 
 Taxes means any and all present and
future taxes, duties, withholdings, levies, assessments, imposts, fees and other governmental charges of all kinds (including any value added or similar tax and any stamp, documentary, license, registration or similar fees or tax) imposed by a
Government Entity, together with any penalties, fines, surcharges and interest thereon and any additions thereto. 
 Technical Report
means a monthly report of the Engine Flight Hours and Engine Cycles operated by the each Engine in respect of each calendar month in the form reasonably required by Lessor. 
 Term means the period commencing on the Delivery Date and ending on the Expiry Date. 

TSN means time (Engine Flight Hours) since new. 
 TSO means time (Engine Flight Hours) since overhaul. 
 UCC means the Uniform
Commercial Code as in effect in the State of New York. 
 United States means the United States of America. 

U.S.C. means the United States Code. 
 The terms Ad Compliance Period, Agreed Value, Annual Supplemental Rent Adjustment, Assumed Ratio, Damage Notification Threshold, Deductible Amount, Delivery Condition Requirements, Deposit, Delivery
Location, Discount Rate, Engine Cycles Restriction, Engine Flight Hours Restriction, Engine LLP Supplemental Rent, Engine Supplemental Rent, Final Delivery Date, Financing Documents, Financing Parties, Financing Parties Representative, Guarantor,
Indemnitee, Interest Rate, Lessee, Lessor, Lessor’s Account, Manufacturer, Minimum Component Calendar Life, Minimum Engine Cycles, Minimum Engine Flight Hours, Minimum Liability Coverage, Modification Approval Amount, Owner, Pre-Approved Bank,
Pre-Approved Sub-Lessee, Redelivery Location, Rent, Rent Commencement Date, Scheduled Delivery Date, Scheduled Delivery Month, Scheduled Expiry Date, Spares Deductible Amount, and Tax Indemnitee are all defined in the Engine Lease Agreement.

  
 50 

 SCHEDULE 2 

REPRESENTATIONS AND WARRANTIES 
  

	1.1	Lessee’s Representations and Warranties 

 Lessee’s representations and warranties to Lessor as of the date of execution of the Lease and the Delivery Date are as follows: 

 

	 	(a)	Status: It is duly organized as a company (sociedad anónima de capital variable), validly existing and in good standing (according to all Regulations
applicable to Lessee) in its State of Incorporation. 

  

	 	(b)	Licenses: It is an air carrier with a concession to transport passengers, mail and cargo throughout Mexico on scheduled flights, is registered, licensed or
otherwise certified by the Ministry of Communication and Transportation (Secretaría de Comunicaciones y Transportes) authorizing it to engage in such air transportation. 

 

	 	(c)	Non-Conflict: Execution, delivery and performance of the Lease do not contravene or breach any Regulation applicable to Lessee. 

 

	 	(d)	Power and Authority: It has all corporate and other power and authority to execute, deliver and perform the Lease, and the Lease has been duly authorized,
executed and delivered by Lessee. 

  

	 	(e)	Legal Validity: The Lease is its legal, valid and binding obligation, enforceable against Lessee in accordance with its terms, except to the extent the same may
be limited by insolvency, bankruptcy, moratorium and other laws affecting creditors’ rights in general and general principles of equity. 

  

	 	(f)	No Event of Default: No Event of Default has occurred and is continuing or would occur because of Delivery. 

 

	 	(g)	Litigation: It is not involved in any litigation or other dispute which, if adversely determined, would materially and adversely affect its financial condition
or its ability to perform its obligations under the Lease. 

  

	 	(h)	Financial Information: Its audited financial statements most recently delivered to Lessor: 

 

	 	(i)	have been prepared in accordance with GAAP; and 

  

	 	(ii)	are true and correct and present fairly the financial condition and results of operations of Lessee as at the date thereof and for the period then ending.

  

	 	(i)	Full Disclosure: Neither the audited financial statements referred to in paragraph (g) nor any other financial, operational or credit related information
provided to Lessor by Lessee for the purposes of the Lease contains as of the date thereof any untrue statement of a material fact or omits to state any material fact necessary in order to make the statements therein not misleading in the light of
the circumstances under which they were made. 

  

	 	(j)	Location: Lessee’s chief executive office (as that term is defined in Article 9 of the UCC) is located at the address set forth in the heading of the
Engine Lease Agreement; and the records of the Lessee concerning the Engine are maintained at such chief executive office or at the Habitual Base of the Engine. 

 

	 	(k)	Material Adverse Change: there has been no material adverse change in the financial condition or operations of Lessee or in the ability of Lessee to comply with
its obligations under the Lease since the date of the financial statements most recently provided to Lessor on or prior to the date of the Engine Lease Agreement. 

  
 51 

	1.2	Lessor’s Representations and Warranties 

 Lessor’s representations and warranties to Lessee as of the date of execution of the Lease and the Delivery Date are as follows: 

 

	 	(a)	Status: It is duly organized, validly existing and in good standing in its State of Incorporation and is an Affiliate of GE Commercial Aviation Services Limited.

  

	 	(b)	Non-Conflict: Execution, delivery and performance of the Lease do not contravene or breach any Regulation applicable to Lessor. 

 

	 	(c)	Power and Authority: It has all corporate and other power and authority to execute, deliver and perform the Lease, and the Lease has been duly authorized,
executed and delivered by Lessor. 

  

	 	(d)	Legal Validity: The Lease is its legal, valid and binding obligation, enforceable against Lessor in accordance with its terms. 

  
 52 

 SCHEDULE 3 

CONDITIONS PRECEDENT 

Part A - Lessor Conditions Precedent 
 The conditions precedent to Lessor’s obligation to deliver and to commence the leasing of the Engine are as follows. All documents delivered to Lessor pursuant to this Schedule 3 will be
in English, or if not in English will be accompanied by a certified English translation: 
  

	1.1	Preliminary Conditions 

 Lessor will
receive from Lessee, prior to the Scheduled Delivery Date, each of the following, reasonably satisfactory in form and substance to Lessor: 
  

	 	(a)	Opinion(s): if requested by Lessor, forms of the opinion(s) substantially conforming to Schedule 8 (Form of Lessee’s Legal Opinion) that
will be issued on the Delivery Date by legal counsel(s) reasonably acceptable to Lessor (which Lessor agrees may be Lessee’s in-house counsel) with respect to the laws of the State of Incorporation, the State of Registry and, if different from
the preceding jurisdictions, the Habitual Base and the state where Lessee is situated (as provided in Article 4 of the Cape Town Convention), including filing for due recordation of the Lease and the Financing Documents and filing of notice in
the International Registry, if applicable; 

  

	 	(b)	Approvals: (i) evidence that Lessee has elected to consider the Engine as part of its assets for the purpose of the Mexican Asset Tax Law (Ley del Impuesto
al Activo), in the form of a letter from Lessee to the Mexican Ministry of Finance and Public Credit in which Lessee makes such election, file-stamped to evidence receipt by such Ministry; and (ii) evidence of issue of all other applicable
approvals, licenses and consents, if any, which are required in relation to, or in connection with the performance by Lessee of any of its obligations under the Lease; 

 

	 	(c)	Import: evidence that any required license, and all customs formalities, relating to the import of the Engine into the Habitual Base have been obtained or
complied with, and that the import of the Engine into the Habitual Base is exempt from Taxes; 

  

	 	(d)	Process Agent: a letter from the process agent appointed by Lessee in the Lease accepting that appointment, together with a copy of a power of attorney granted
by Lessee to each such process agent in accordance with the requirements of Mexican law empowering such process agent to accept process on behalf of Lessee in connection with any legal proceeding in substantially the form of Schedule 13 (which
copy shall be certified by an officer of Lessee as a true and complete copy of the power of attorney); 

  

	 	(e)	Licenses: copies of Lessee’s air transport license; 

  

	 	(f)	Title: copies of the historical bills of sale for the Engine establishing valid title thereto; 

 

	 	(g)	UCC: Financing Statements with respect to the Lease and, if applicable, the Engine in a form reasonably acceptable to Lessor shall have been delivered by Lessee
to Lessor and Lessee hereby authorizes Lessor to file such Financing Statements duly completed in accordance with the terms of the Lease with the appropriate authority in each jurisdiction reasonably required by Lessor; 

 

	 	(h)	 Deregistration Authorisation: a notarised and legalized Power of Attorney substantially in the form of Schedule 12A and, if the Cape Town
Convention including Article XIII of the Protocol is applicable to this Lease, an irrevocable 

  
 53 

	 	
deregistration and export request authorisation substantially in the form of Schedule 12B attached in each case (in both English and Spanish) duly executed by Lessee and each shall comply
with the requirements of Mexican law and where necessary or advisable, shall be filed, registered and/or recorded with the appropriate authorities; 

  

	 	(i)	Letter of Credit (if applicable): the form of the Letter of Credit; 

 

	 	(j)	General: such other documents as Lessor may reasonably request. 

  

	1.2	Final Conditions 

  

	 	(a)	Final Documents: Lessor shall receive on or before the Delivery Date each of the following: 

 

	 	(i)	Certificate of Acceptance and Engine Lease Agreement: each of the Certificate of Acceptance and Engine Lease Agreement, dated and fully completed, and executed
by Lessee, and, in the case of the Engine Lease Agreement, filed (together with the CTA) for recording at the Air Authority ; 

  

	 	(ii)	Opinions: a signed original (or facsimile transmission thereof) of each of the opinions referred to in Section 1.1(a) of this Schedule 3, dated
the Delivery Date; 

  

	 	(iii)	Payments: all sums due to Lessor under the Lease on or before the Delivery Date, including the first payment of Rent and, if applicable, the balance of the
Deposit; 

  

	 	(iv)	Insurance: certificates of insurance, an opinion and undertaking from Lessee’s insurance broker and other evidence reasonably satisfactory to Lessor that
Lessee is taking the required steps to ensure due compliance with the provisions of the Agreement as to Insurance with effect on and after the Delivery Date; 

 

	 	(v)	Financial Information: the latest Financial Information of Lessee requested by Lessor; 

 

	 	(vi)	Letter of Credit (if applicable): the Letter of Credit; 

  

	 	(vii)	Guarantee (if applicable): the Guarantee, duly executed and delivered by the Guarantor, and an opinion of legal counsel acceptable to Lessor (which Lessor agrees
may be Lessee’s in-house counsel) in respect of the Guarantee in form and substance reasonably acceptable to Lessor and its legal counsel; 

  

	 	(viii)	Lessee’s Maintenance Program: such information and documents relating to the Lessee’s Maintenance Program as Lessor may reasonably require;

  

	 	(ix)	Filings: evidence that on the Delivery Date all filings, registrations, recordings and other actions have been or will be taken which are necessary or advisable
to ensure the validity, effectiveness and enforceability of the Lease and to protect the interests of Owner and, if applicable, the Financing Parties in the Engine or any Part and in the Lease, with notice thereof filed in the International
Registry, if applicable; 

  

	 	(x)	 Acknowledgement and Agreement re Assignment (if applicable): an acknowledgement of and certain agreements with respect to the assignment

  
 54 

	 	
by Lessor of this Lease to Owner and Financing Parties’ Representative in the form previously provided to Lessee or as Owner or Financing Parties Representative may otherwise reasonably
request; and 

  

	 	(xi)	Purchase Agreement: if applicable, the Purchase Agreement relating to the purchase by Lessor of the Engines from Lessee has been duly executed and delivered, the
delivery condition requirements have been satisfied in full and no default or breach of such Agreement has occurred or is continuing. 

  

	 	(b)	Representations/Warranties: the representations and warranties of Lessee in Schedule 2 (Representations and Warranties) shall be true and correct in
all material respects, and would be true and correct in all material respects if repeated on Delivery; and 

  

	 	(c)	No Event of Default: no Event of Default shall have occurred and be continuing on Delivery or could reasonably be expected to result from the leasing of the
Engine to Lessee under the Lease. 

  

	1.3	Conditions Subsequent to be satisfied by Lessee 

 Lessee shall comply with the following conditions subsequent: 
  

	 	(a)	No later than thirty (30) Business Days from the Delivery Date but prior to the operation of the Engine, provide evidence that Lessee has added the Engine to its
fleet; 

  

	 	(b)	No later than thirty (30) Business Days from but not including the Delivery Date, Lessee shall provide to Lessor evidence that Lessee has received all required
import licenses and customs clearances relating to the import of the Engine into the Habitual Base, which evidence shall include, but not be limited to, a copy of the temporary import license for the Engine (pedimento de importación);

  

	 	(c)	No later than forty-five (45) Business Days from the Delivery Date, Lessee shall provide Lessor with evidence reasonably satisfactory to Lessor that the Lease has
been filed with the Air Authority and as soon as the same shall become available, Lessee shall provide Lessor with a certified true copy of the Air Authority’s confirmation of the registration of the Lease; and 

 

	 	(d)	Prior to installing the Engine on any Related Airframe, Lessee shall obtain from any person to whom possession of an Engine is given, and from the lessor of any Related
Airframe and from any holder of a Security Interest in any Related Airframe, a Recognition of Rights Agreement unless the applicable lease/security document relating to such Related Airframe contains a provision whereby the lessor and/or owner of
the Related Airframe recognize the rights of lessors and owners of spare engines attached from time to time on the Related Airframe, subject to such provision being disclosed to Lessor and being acceptable to Lessor in its reasonable discretion
prior to such installation occurring. In addition, Lessee shall provide Lessor with a copy of the Certificate of Airworthiness and Registration for each Related Airframe prior to installation of the Engine on such Related Airframe.

 Part B - Lessee Conditions Precedent 
 The conditions precedent to Lessee’s obligation to accept and to commence the leasing of the Engine are as follows. All documents delivered to Lessee pursuant to this Schedule 3 will be
in English. 

  
 55 

	 	(a)	Final Documents: Lessee shall receive on or before the Delivery Date for the Engine each of the following: 

 

	 	(i)	Engine Lease Agreement: the applicable Engine Lease Agreement, dated and executed by Lessor and filed (together with the CTA) for recording at the Air Authority;
and 

  

	 	(ii)	Acknowledgement re Quiet Enjoyment: if Lessee is required to deliver an acknowledgement of or agreement with respect to the assignment by Lessor of the Lease to
Owner or Financing Parties’ Representative, an agreement by each such Person (Owner, Financing Parties’ Representative or both, as the case may be) as to itself to the effect set forth in Section 7.1 (Quiet Enjoyment);

  

	 	(b)	Representations/Warranties: the representations and warranties of Lessor in Schedule 2 (Representations and Warranties) shall be true and
correct in all material respects, and would be true and correct in all material respects if repeated on Delivery; and 

  

	 	(c)	Delivery Condition Requirements: tender by Lessor of delivery of the Engine incompliance with the Delivery Condition Requirements. 

  
 56 

 SCHEDULE 4 

PRE-DELIVERY PROCEDURES AND DELIVERY CONDITION 
 REQUIREMENTS 
  

	1.	Licenses 

  

	 	(a)	It is the responsibility of Lessee to obtain all licenses, permits or approvals necessary to export or transport the Engine from the Delivery Location.

  

	 	(b)	Lessor will provide Lessee with any required data and information relating to the Engine or Lessor as are reasonably available to Lessor for the purposes of obtaining
any such licenses, permits or approvals. 

  

	2.	Inspection 

  

	 	(a)	Subject to any applicable lease agreement or purchase agreement, Lessee may inspect the Engine (including a test cell or power assurance run) to ensure that the Engine
fulfils the Delivery Condition Requirements. 

  

	 	(b)	If Lessee’s inspection of the Engine shows that the Engine does not fulfil the Delivery Condition Requirements, Lessor will correct any defects and make the Engine
available for re-inspection by Lessee provided that, in Lessor’s reasonable opinion, it is not impracticable or prohibitively expensive to correct the defect. 

 

	 	(c)	If Lessor notifies Lessee that it does not intend to correct the defect, either party may terminate the Lease. 

If the Engine has been purchased from Lessee (or one of its Affiliates) by Owner and immediately leased back by Lessor to Lessee, the
provisions of this Section 2 shall not apply to the leasing of the Engine. 
  

	3.	Indemnity 

 Lessee is
responsible for and will indemnify each Indemnitee against all Losses arising from death or injury to any observer, representative or any employee of Lessee in connection with the inspection of the Engine whether or not such Losses arise out of or
are attributable to any act or omission, negligent or otherwise, of any Indemnitee other than the wilful misconduct of such Indemnitee. 

  
 57 

 SCHEDULE 5 

CERTIFICATE OF ACCEPTANCE 

This Certificate of Acceptance is delivered, on the date set out below by [LESSEE] (“Lessee”), to [Name of Lessor]
(“Lessor”), pursuant to the Common Terms Agreement, dated                     , between Lessor and Lessee and the Engine Lease
Agreement, dated                     , between Lessor and Lessee incorporation the terms of the Common Terms Agreement (the
“Agreement”). The capitalized terms used in this Certificate shall have the meaning given to such terms in the Agreement. 
  

	1.	DETAILS OF ACCEPTANCE 

 Lessee hereby
confirms to Lessor that Lessee has at [    ] o’clock on this      day of         ,         , at
                    , accepted delivery of the following: 
  

	(a)	[                    ] Engine: 

Manufacturer’s Serial Number:          

 

	(b)	Engine Document Check List: as attached hereto. 

  

	(c)	QEC Check List: as attached hereto. 

  

	(d)	LRU Check List: as attached hereto. 

  

	(e)	Other Accessories Check List: as attached hereto. 

  

	(f)	Engine stand/Engine cover: as attached hereto. 

  

	(g)	Data Plate certification: as attached hereto. 

  

	2.	HOURS AND CYCLES DATA (as of Delivery Date) 

 Engine: 
 Number of Engine Flight Hours since new:         
hours 
 Number of Engine Flight Hours since last refurbishment:          hours 

Number of Engine Flight Cycles since new:          cycles 
 Number of Engine Flight Cycles since last refurbishment:          cycles 
 Risk Sheet: 
 Hot Section Inspection: 

 

	Interval:	                     

 

	Time	Since (S/N         ):          

 

	Time	Remaining to First Restriction: 

  

									
	Hours:	 	  
	 		 	Restriction:	 	  

	Cycles:	 	  
	 		 	Restriction:	 	  

 Average Cycles in LLP (see attached Schedule):          

  
 58 

	3.	ACCEPTANCE: 

 Lessee
hereby confirms that the Engine, engine stand, QEC, Parts and Engine Documents described in this Certificate of Acceptance have been received; (ii) the Engine has been duly marked with the Nameplate in accordance with the terms of
Section 8.6(a) of the Lease; (iii) the Engine is insured as required by the Lease; (iv) the representations and warranties of Lessee referred to in Section 2.1 (Lessee’s Representations and Warranties) of the Lease
are hereby repeated with effect as of the date first above written; (v) having inspected the Engine, Lessee acknowledges that the Engine satisfies all conditions required for Lessee’s acceptance of delivery as set forth in the Lease; and
(vi) the execution and delivery of this Certificate signifies absolute and irrevocable acceptance by Lessee of the Engine for all purposes hereof and of the Lease. 
 IN WITNESS WHEREOF, Lessee and Lessor have, by their duly authorized representative, executed this Certificate of Acceptance on the date in paragraph 1 above. 

 

									
	LESSEE:	 		 	LESSOR:
					
	By:	 	  
	 		 	By:	 	  

	Title:	 	  
	 		 	Title:	 	  

  
 59 

 SCHEDULE 6 

PROCEDURES AND OPERATING CONDITION AT REDELIVERY 
 (Engines) 
 On the Return Occasion of the Engine, subject to ordinary wear and tear of a
kind and to an extent consistent with similar engines engaged in commercial airline operations, will be redelivered to Lessee in accordance with the proved ores and in any event in the condition set out below. 

 

	1.1	Final Inspection 

 Immediately prior to
the Return Occasion, Lessee will make the Engine available to Lessor for inspection (“Final Inspection”) in order to verify that the condition of the Engine complies with the Lease. The Final Inspection will include, and be long
enough to permit Lessor to: 
  

	 	(a)	inspect the Engine Documents; 

  

	 	(b)	observe a test cell run or an engine maximum power assurance run, at Lessor’s option, in accordance with the EMM, at Lessee’s cost; 

 

	 	(c)	following the test cell run or the engine maximum power assurance run, inspect the Engine and the uninstalled Parts, including a complete video borescope inspection of
all stages of (A) the low pressure and high pressure compressors (performed by cold section video borescope) and (B) the high pressure turbine and low pressure turbine modules (performed by hot section video borescope).

 Furthermore, Lessee acknowledges that the next operator of the Engine will need to inspect the Engine and the Engine Documents
prior to redelivery and Lessee hereby agrees to cooperate with Lessor and/or such next operator in order to coordinate and grant access for inspections and/or meetings as necessary. 
 Lessor is responsible for and will indemnify Lessee against all Losses arising from the death or injury to an observer or any employee of Lessor in connection with the inspection of the Engine under this
Clause 1.1 whether or not such Losses arise out of or are attributable to any act or omission, negligent or otherwise of Lessee. 
  

	1.2	General Condition 

 The Engine will:

  

	 	(a)	be in at least as good operating and physical condition, excluding normal wear and tear, as when delivered to Lessee by Lessor, subject to ordinary operating wear and
tear and changes and alterations properly made by Lessee as permitted under, and otherwise in accordance with, the Lease. The Engine will have been maintained to at least the same standard and modification status as other similar engines within
Lessee’s fleet. The Engine will be free of any concessions, technical variances, repairs or modifications not approved by Manufacturer, maintenance deferrals, carry-overs, extensions or any on-watch items requiring a special, reduced period or
out of sequence inspection or maintenance; 

  

	 	(b)	have a valid certificate of airworthiness and export certificate of airworthiness, if applicable; 

 

	 	(c)	be fully serviceable as evidenced by a FAA/EASA approved serviceability tag in accordance with the Maintenance Program and an FAA 8130-3 or JAR Form 1;

  
 60 

	 	(d)	be in such condition as to permit the immediate use in commercial airline service under the current regulations of the FAA and EASA (including FAA/EASA shop release
documentation if requested by Lessor); 

  

	 	(e)	have complete back to birth records acceptable to Lessor (acting reasonably) available for all LLP and components; 

 

	 	(f)	have engine trend monitoring data evidencing no adverse trends or rate of deterioration or operating abnormality which would require corrective action or a shop visit
in advance of next scheduled shop visit; 

  

	 	(g)	have an incident statement signed by Lessee which shall be substantially in the form set out in Schedule 10; 

 

	 	(h)	be operating within the limits established by Manufacturer; 

  

	 	(i)	be in compliance (either by means of repetitive inspection, modification or terminating action) with the FAA/EASA and Air Authority’s ADs and mandatory SBs the
compliance with which is required on or before the date Lessor accepts redelivery or completion on or before the 6th month following Lessor’s acceptance of redelivery, accompanied by records showing the method and date of compliance and
compliance documents showing accomplishment with no variance, extension, carry-overs or deferrals (other than those variances, extensions or deferrals which are applicable to all engines of like make and model as the Engine, if any). Any
airworthiness directives of the Air Authority, EASA or FAA which must be completed on a terminating action basis during the Term by the Lessee or are completed on a terminating action basis by Lessee on other engines of the same type in its fleet
will be performed on a terminating action basis by Lessee at Lessee’s cost; 

  

	 	(j)	have installed the full complement of equipment, parts, accessories, furnishings and loose equipment, including, but not limited to, QEC and engine build up (EBU)
parts, if any, as when originally delivered to Lessee and as normally installed in the Engine for continued regular service, and will be in the same external configuration as when originally delivered to Lessee except for any manufacturer, EASA, FAA
approved modifications or improvements or any other Engine changes permitted or required by the Lease; 

  

	 	(k)	have no open, deferred, continued, carry over or placarded log book items; and 

 

	 	(l)	have the Nameplate in accordance with the provisions of the Lease. 

  

	1.3	Components 

  

	(a)	Each Engine Flight Hour and Engine Cycle controlled Hard Time Component shall have not less than the Minimum Hard Time Component Flight Hours and the Minimum Hard Time
Component Cycles of life remaining to the next expected Engine Refurbishment based on the Manufacturer’s mean time between removals for such Engine and shall be supported by appropriate certification documentation indicating TSN, CSN, TSO and
CSO such as JAR form 1 or FAA form 8130-1; for this purpose “Hard Time Component” means any component which has a limited on-wing life in accordance with the Maintenance Programme and which can have life fully restored
through appropriate maintenance; 

  

	(b)	Each calendar-limited component including safety equipment will have not less than its Minimum Component Calendar Life remaining to the next scheduled removal in
accordance with the Maintenance Program; 

  

	(c)	Each “on-condition” and “condition-monitored” component will be serviceable; 

  
 61 

 If the Engine will not meet these conditions without a shop visit in the six months preceding
termination of the Lease, Lessee will consult with Lessor prior to committing the Engine to the shop and Lessor will re-evaluate the requirement for maximum time since shop visit based on the then current circumstances. All components (excluding
LLP) shall have a minimum of fifty percent (50%) life remaining (Engine Flight Hours, Engine Cycles or months whichever is applicable and most limiting). Average total time since new on installed components and Parts in the aggregate shall have
no more than one hundred ten percent (110%) of the total time on the Engine. 
  

	1.4	Engines: 

 Each Engine will: 

 

	 	(a)	have not less than the Minimum Engine Flight Hours life remaining to the next expected removal and each of the LLPs shall have not less than the Minimum Engine Cycles
release life remaining. The expected life remaining will be determined by the inspection and checks accomplished by Lessor in accordance with the Lease; 

  

	 	(b)	be free of all Security Interests, other than Security Interests granted by Lessor; 

 

	 	(c)	have undergone the inspections as set forth in Section 1.1(b) and (c) herein. If any inspection procedure identifies any Engine defect(s), Lessee will
immediately notify Lessor in writing, correct such defect(s) at Lessee’s cost and provide evidence satisfactory to Lessor that defects have been corrected in accordance with the EMM and the Maintenance Program; 

 

	 	(d)	be prepared for shipment by (i) capping and plugging all openings, (ii) preserving the Engine for 90 days or more storage and (iii) otherwise
preparing the Engine for shipment in accordance with Manufacturer’s recommendations; 

  

	 	(e)	be zero time since the last complete hot and cold section video borescope inspection in accordance with Manufacturer’s and the Related Airframe manufacturer’s
maintenance manual and will be in compliance with requirements of the EMM, Lessee’s operations specifications, and the requirements and recommendations of the Air Authority; 

 

	 	(f)	together with installed components, not be subject to any reduced frequency inspections in comparison to the Related Airframe manufacturer’s maintenance manual
limits; 

  

	 	(g)	immediately prior to redelivery, will have the required EGT Margin. In addition, the EGT Margin shall be sufficient, and the Engine shall otherwise be in a condition,
to permit the operation of the Engine for at least the Minimum Engine Flight Hours and the Minimum Engine Cycles until its next expected Engine Refurbishment. The Engine shall have performance characteristics consistent with engines of a similar
manufacturer, made, model, thrust, age and time since performance restoration and, if (i) fresh from an Engine Refurbishment, be zero time since a full parameter test cell run which will demonstrate, including at full take-off power,
performance characteristics consistent with Lessee’s approved Related Airframe operating requirements, or (ii) the Engine has been removed from an aircraft immediately prior to redelivery, will have performed a full parameter test cell run
or on-wing maximum power assurance run, at Lessor’s election, demonstrating maximum permitted power take-off performance as per Lessee’s Related Airframe operating requirement. In all cases, the engine condition monitoring (ECM) data will
be available for Lessor’s review, will cover periods of installation sufficient to have initialized a baseline on the trend plot and will exhibit no abnormal trends or acceleration in the deterioration of the performance of the Engine;

  
 62 

	 	(h)	Lessee will bear all costs of packaging, including the provision of an engine shipping stand, transportation, including the return of the engine stand to Lessee (if
applicable), insurance duties, taxes and other costs associated with the return of the Engine, Delivered Duty Paid (Incoterms 2000) to the Redelivery Location. Any vehicles and trailers used for shipment of the Engine shall be air ride
equipped. On a given shipment, such vehicle shall be dedicated to the Engine belonging solely to Lessor; except, that (i) the Engine or other related equipment may be off-loaded at the Redelivery Location without disturbing any of the
additional items included in such shipment; and (ii) Lessee shall not handle or reposition any of the additional items included in such shipment on such vehicle; 

 

	 	(i)	have no defect which places less than the Engine Flight Hours Restriction and the Engine Cycles Restriction of remaining life, each including in respect of LLPs,
pursuant to Manufacturer’s or Air Authority’s requirements until removal. 

  

	1.5	Engine Documents: 

 The Engine Documents
will: 
  

	 	(a)	be delivered by Lessee to Lessor, together with the records generated by Lessee and records maintained or obtained, or required to be maintained or obtained, under the
applicable rules and regulations of the Air Authority or any other applicable Law. With respect to any Part installed by Lessee during the Term and not removed prior to Redelivery, the records returned to Lessor will include: (i) part number,
description and serial number (if Part is serialized); (ii) historical record, including but not limited to (A) serviceability status at installation, (B) for a time-controlled Part, total time and cycles, time and cycles since
overhaul as may be applicable, and total time and cycles of the Engine at the time of Part installation, and (C) for an LLP, “back-to-birth” documentation tracing usage of the Part since new. The Engine Documents will be accurate and
complete and satisfy all other requirements so as to permit immediate use of the Engine under the rules and regulations of the Air Authority. At minimum, the Engine Documents shall include the following: 

 

	 	1.	Certified statement as to Engine Flight Hours and Engine Cycles since overhaul on each Engine module. 

 

	 	2.	Engine Log Book (as applicable to Lessee’s records keeping system). 

  

	 	3.	Engine Master Record (record of installation and removal and accumulated Engine Flight Hours and Engine Cycles). 

 

	 	4.	Accessory status (including description, part number, serial number, date and time installed, and current time since overhaul). 

 

	 	5.	Record of last overhaul (FAA Form 8130-3 or JAA Form One) for each of the accessory rotables requiring overhaul on a time specified basis.

  

	 	6.	Repair, overhaul and inspection records for each shop visit since and including the last overhaul of each module. 

 

	 	7.	Documents demonstrating installation and full traceability to new for each LLP. 

 

	 	8.	Engine condition monitoring report. 

  

	 	9.	Most recent engine borescope (if videotaped, include copy of video). 

  
 63 

	 	10.	Most recent fuel, oil sampling, magnetic chip detector and vibration survey results (as available). 

 

	 	11.	Most recent on-wing ground performance run. 

  

	 	12.	Last certified test cell run. 

  

	 	13.	Manufacturer delivery documents. 

  

	 	14.	Engine oil used. 

  

	 	15.	Any incidents during operation since last shop visit with action taken (e.g. IFSD/ FOD/ oil loss, etc.). 

 

	 	(b)	Summary Records. Lessee shall cause each of the following Engine Documents to be complete including any update required to reflect work performed in preparation for
return to Lessor. Each summary report shall be certified by signature of Lessee’s Director of Quality Assurance or Director of Quality Control as being a complete and accurate description of Engine status at return to Lessor.

  

	 	1.	AD/CN Applicability and Compliance Status. Listings will include all AD/CNs issued by the Air Authority against the model and series of each item and will clearly
identify any exemptions, waivers or alternate means of compliance granted by the Air Authority to the operator. In addition to other pertinent data, the documents shall include Manufacturer’s SB(s) reference, AD/CN and SB revision numbers,
method of compliance, date and time (Engine Flight Hours and Engine Cycles) of accomplishment, status (terminated, repetitive, open), and next due. 

  

	 	2.	Manufacturer SB Compliance Summary. Summary will clearly identify whether an SB was completed in full, in part or in variance to manufacturer data and shall detail
which portions were accomplished or the nature of any variance. 

  

	 	3.	List of Lessee Modifications Incorporated (EO’s, EA’s, FCD’s, etc.). In addition to other pertinent data, this document shall include operator document
reference, description, date and time of accomplishment. 

  

	 	4.	LLP Status Reports. In addition to other pertinent information, this document shall include description, location, manufacturer part number, manufacturer serial number,
total time (Engine Flight Hours and Engine Cycles), life limit and time remaining. 

  

	 	5.	Check/Inspection History (record of scheduled checks accomplished during the Term including date and time accomplished). 

 

	 	6.	Complete Status Summary for each special maintenance, modification or inspection program (corrosion prevention and control, supplemental inspection, aging engine, etc.)
in effect at time of return. 

  

	 	7.	Time-Controlled Components (TCC) Status Report. This shall address status of each TCC installed in the Engine. The list of TTCs shall be that listed in the MPD plus
those listed in the Maintenance Program. In addition to other pertinent information, this document shall include description, location, manufacturer part number, manufacturer serial number, date and Engine time at installation, current time since
overhaul (Engine Flight Hours and Engine Cycles), limit, and time remaining. 

  

	 	8.	List of currently installed Parts. In addition to other pertinent information, this document shall include description, location, manufacturer part number, manufacturer
serial number, date installed and aircraft time at installation. 

  
 64 

	 	(c)	The Engine Documents shall include the following AD/CNs, SBs and Modifications: 

 

	 	1.	AD/CN Accomplishment Records for all AD/CNs accomplished including task cards, engineering orders, drawings, shop cards, etc., as necessary to establish method of
compliance, quality control acceptance, and approval authority. Records shall be returned in dedicated AD/CN files segregated by Engine and Parts and shall be in AD/CN number order. Records for AD/CNs requiring repetitive accomplishment of identical
action may be restricted to initial and most recent accomplishment. 

  

	 	2.	SB Accomplishment Records for all SBs accomplished on the Engine and Parts including task cards, engineering orders, drawings, shop cards, etc., as necessary to
establish method of compliance, quality control acceptance, and approval authority. Records shall be returned in dedicated SB files segregated by the Engine and Parts and shall be in SB number order. Records for SBs requiring repetitive
accomplishment of identical action may be restricted to initial and most recent accomplishment. SBs carried out to satisfy AD requirements shall be returned with AD records and need not be duplicated in SB files. 

 

	 	3.	Modification Accomplishment Records for all modifications accomplished on the Engine and Parts including task cards, engineering orders, drawings, shop cards, etc., as
necessary to establish method of compliance, quality control acceptance and approval authority. Records shall be returned in dedicated modification files segregated by Engine and Parts and shall be organized in a fashion that allows documents for a
particular modification to be located quickly and efficiently. Modifications carried out to satisfy AD/CN requirements shall be returned with AD/CN records and need not be duplicated in modification files. 

 

	 	(d)	The Engine Documents shall include the following Quality Assurance Statements: 

 

	 	1.	Statement of total Engine Flight Flours and total Engine Cycles on the Engine at Engine transfer. 

 

	 	2.	Automated Record System procedures and Security Control (as applicable to Lessee’s records keeping system). 

 

	 	3.	List of Repair Stations used by Lessee including Part 145 Certification and Letter to Repair Stations authorizing release of records to Lessor upon request.

  

	 	4.	Report detailing Incidents or Accidents (if none, signed statement to that effect). 

 

	 	(e)	The Engine Documents shall include a list of all records and documentation transferred with the Engine. 

  
 65 

	1.6	Redelivery Acceptance. Upon redelivery as required by the Lease, Lessor will deliver to Lessee the acknowledgement required pursuant to Section 12.4
(Acknowledgement). 

  
 66 

 SCHEDULE 7 

INSURANCE REQUIREMENTS 
  

	1.1	Types of Insurance 

 The Insurances
required to be maintained are as follows: 
  

	 	(a)	Hull All Risks of loss or damage while flying, taxiing and on the ground with respect to the Engine on an agreed value basis for the Agreed Value and with a
deductible not exceeding the Deductible Amount or such other amount agreed by Lessor from time to time; 

  

	 	(b)	Hull War and Allied Perils, being such risks excluded from the Hull All Risks Policy, to the extent usual and customary from the leading international insurance
markets for comparable operators operating similar Engines in similar circumstances; 

  

	 	(c)	All Risks Coverage (including war and allied risk and spares insurance except when on the ground or in transit other than by air as is customarily available)
property insurance on all Engines and Parts when not installed on any aircraft, including engine test and running risks, on the basis of their fair market replacement value; provided, however, that Lessee shall carry all risk spares insurance with
respect to all Engines subject to an Engine Lease Agreement, which insurance shall include in-transit coverage, covering any damage which may occur while such Engine is in Lessee’s care, custody and control, but not then attached to an
aircraft, in a minimum amount not less than the Agreed Value for such Engine, with a deductible not exceeding the Spares Deductible Amount or such other amount agreed by Lessor from time to time; and 

 

	 	(d)	Comprehensive Aircraft Third Party, Property Damage, Passenger, Baggage, Cargo and Mail and Airline General Third Party (including Products) Legal Liability.
Coverage for a combined single limit (bodily injury/property damage) of an amount not less than the Minimum Liability Coverage for the time being for any one occurrence (but in respect of products and personal injury liability, this limit may be an
aggregate limit for any and all losses occurring during the currency of the policy). War and Allied Risks cover is to be maintained from leading international insurance markets (AVN 52D is the current London market language) and shall be for an
amount not less than the greater of (i) the Minimum Liability Coverage and (ii) the amount carried by Lessee in respect of similar aircraft owned or otherwise operated by Lessee. 

 

	 	(e)	Gross Up: When the Engine is installed on an aircraft, the insured agreed value of that aircraft shall be automatically increased by the amount of the Agreed
Value for such Engine, and shall be so noted on the insurance certificate. 

  

	1.2	Terms of Hull and Spares Insurance 

 All
required hull and spares insurance, so far as it relates to the Engine, will: 
  

	 	(a)	Additional Insureds: name Lessor, Owner, Financing Parties’ Representative and the Person serving as the Financing Parties’ Representative in its
individual capacity as additional insureds for their respective rights and interests (without imposing on any such Person any obligation imposed on the insured, including the liability to pay any calls, commissions or premiums);

  

	 	(b)	 Settlement of Losses: provide that any loss will be settled jointly with Lessor and Lessee, and will be payable in Dollars to Lessor, as sole
loss payee, for the account of 

  
 67 

	 	
all interests, except where the insurance payment does not exceed the Damage Notification Threshold, and no Default is in existence, in which case the loss will be settled with and paid to
Lessee; 

  

	 	(c)	50/50 Provision: if separated Hull “all risks” and “war risks” insurances are arranged, include a 50/50 provision in accordance with market
practice (AVS. 103 is the current London market language); 

  

	 	(d)	No Option to Replace: confirm that the insurers are not entitled to replace the Engine in the event of an insured Event of Loss. 

 

	1.3	Terms of Liability Insurance 

 All
required liability insurances will: 
  

	 	(a)	Additional Insureds: include each lndemnitee, as additional insureds for its respective rights and interests, warranted, each as to itself only, no operational
interest (without imposing on any such Person any obligation imposed on the insured, including the liability to pay any calls, commissions or premiums); 

  

	 	(b)	Severability: include a severability of interests clause which provides that the insurance, except for the limit of liability, will operate to give each insured
the same protection as if there was a separate policy issued to each insured; and 

  

	 	(c)	Primary Policy: contain a provision confirming that the policy is primary without right of contribution and the liability of the insurers will not be affected by
any other insurance of which Lessor, each lndemnitee or Lessee have the benefit so as to reduce the amount payable to the additional insureds under such policies. 

 

	1.4	Terms of All Insurances 

 All Insurances
will: 
  

	 	(a)	Prudent Industry Practice: be in accordance with prudent industry practice of persons operating similar engine in similar circumstances;

  

	 	(b)	Dollars: provide cover denominated in Dollars; 

  

	 	(c)	Worldwide: operate on a worldwide basis subject to such limitations and exclusions as Lessor may reasonably agree; 

 

	 	(d)	Breach of Warranty: provide that, in relation to the interests of each of the additional assureds, the Insurances will not be invalidated by any act or omission
by Lessee, or any other person other than the respective additional assureds seeking protection and shall insure the interests of each of the additional assureds regardless of any breach or violation by Lessee, or any other person other than the
respective additional assured seeking protection of any warranty, declaration or condition, contained in such insurances; 

  

	 	(e)	Subrogation: provide that the insurers will hold harmless and waive any rights of recourse or subrogation against the additional insureds. Upon indemnification
of an additional insured under Insurance, the insurers may, with the consent of such additional insured (such consent not to be unreasonably withheld) exercise subrogation rights; 

  
 68 

	 	(f)	Premiums: provide that the additional insureds will have no obligation or responsibility for the payment of any premiums due (but reserve the right to pay the
same should any of them elect so to do) and that the insurers will not exercise any right of set-off, counter-claim or other deduction, by attachment or otherwise, in respect of any premium due against the respective interests of the additional
insureds other than outstanding premiums relating to the any Engine or Part the subject of the relevant claim; 

  

	 	(g)	Cancellation/Change: provide that the Insurances will continue unaltered for the benefit of the additional insureds for at least 30 days after written
notice by registered mail or telex of any cancellation, change, event of non-payment of premium or installment thereof has been sent by insurer(s) to Lessor, or where an insurance broker is appointed to the insurance broker who shall promptly send
on such notice to Lessor, except in the case of war risks for which 7 days (or such lesser period as is or may be customarily available in respect of war risks or allied perils) will be given, or in the case of war between the 5 great powers or
nuclear peril for which termination is automatic; 

  

	 	(h)	Initiating Claims: contain a provision entitling any lndemnitee to initiate a claim under any policy in the event of the refusal or failure of Lessee to do so;
and 

  

	 	(i)	Indemnities: accept and insure the indemnity provisions of the Lease to the extent of the risks covered by the policies. 

 

	1.5	Deductibles 

 Lessee shall be responsible
for any and all deductibles under the Insurances. 
  

	1.6	Application of Insurance Proceeds 

 The
Insurances will be endorsed to provide for payment of proceeds as follows: 
  

	 	(a)	Event of Loss: all insurance payments received as the result of an Event of Loss occurring during the Term will be paid to Lessor as sole loss payee, and Lessor
will pay or cause to be paid any remaining balance of those amounts to Lessee after deduction of all amounts which may be or become payable by Lessee to Lessor under the Lease and the Other Agreements (including under Section 11.1(b));

  

	 	(b)	Exceeding Damage Notification Threshold: all insurance proceeds of any property, damage or loss to any Engine or any Part occurring during the Term not
constituting an Event of Loss and in excess of the Damage Notification Threshold will be paid to Lessor as sole loss payee, and applied in payment (or to reimburse Lessee) for repairs or replacement property upon Lessor being satisfied that the
repairs or replacement have been effected in accordance with the Lease. Any balance remaining shall he paid to or retained by Lessor or Owner, as the case may be; 

 

	 	(c)	Below Damage Notification Threshold: insurance proceeds in amounts below the Damage Notification Threshold shall be paid by the insurer directly to Lessee;

  

	 	(d)	Liability Proceeds: all insurance proceeds in respect of third party liability will be paid by the insurers to the relevant third party in satisfaction of the
relevant liability or to Owner, Lessor, Financing Partners’ Representative or Lessee, as the case may be, in reimbursement of any payment so made; 

  

	 	(e)	 Default: notwithstanding any of the foregoing paragraphs if at the time of the payment of any such insurance proceeds a Default has occurred and
is continuing, all 

  
 69 

	 	
such proceeds will be paid to Lessor, Owner or Financing Parties’ Representative, as the case may be, or retained to be applied toward payment of any amounts which may be or become payable
by Lessee in such order as Lessor or Owner, as the case may be, may elect until such time as no Default is continuing and then applied as described above; and to the extent that insurance proceeds are paid to Lessee, Lessee agrees to hold such
proceeds in trust and comply with the foregoing provisions and apply or pay over such proceeds as so required. 

  
 70 

 SCHEDULE 8 

FORM OF LESSEE’S [AND GUARANTOR’S] LEGAL OPINION 
 [DATE] 
 [CELESTIAL AVIATION TRADING 50 LIMITED] 

Ladies and Gentlemen: 
  

	 	1.1	You have asked us to render an opinion in connection with the transaction governed by or subject to, inter alia, the under-mentioned documents:

  

	 	(a)	the Engine Lease Agreement dated [                    ] (the
“Engine Lease Agreement”), between [Celestial Aviation Trading 50 Limited] (“Lessor”) and Concesionaria Vuela Compañía de Aviación, S.A. de C.V. (“Lessee”) in respect of one
[        ] engine with engine serial number [        ] (the “Engine”); 

 

	 	(b)	the Common Terms Agreement (as defined in the Engine Lease Agreement); 

  

	 	(c)	the By-laws of Lessee, public deed 92,750 dated October 27, 2004 granted before Mr. Emiliano Zubiría Maqueo, Public Notary 25 of the Federal District,
which contains the constitutional documents of the Lessee and of public deed 83,539 dated October 27, 2005, granted before Mr. José Visoso del Valle, Public Notary 92 of the Federal District, which contains amendments thereto which
have not been further amended through the date hereof; and 

  

	 	(d)	all other documents, approvals and consents of whatever nature and wherever kept which it was, in our judgment and to our knowledge, necessary or appropriate to examine
to enable us to give the opinion expressed below. 

 Words and expressions used and not otherwise defined herein
will bear the same meanings as defined in an Engine Lease Agreement. As used herein the term “Lease” means and includes the Engine Lease Agreement which incorporates the Common Terms Agreement (as defined therein). 

 

	2.	Having considered the documents listed in paragraph 1 above, and having regard to the relevant laws of Mexico we are pleased to advise that in our opinion:

  

	(a)	Lessee is a company (sociedad anónima de capital variable), duly organized, validly existing and in good standing under the laws of Mexico and has the
corporate power and all requisite governmental authority necessary to carry on its respective business as presently conducted; 

  

	(b)	Lessee has the corporate power to enter into and perform, and has taken all necessary corporate action to authorize the entry into, and the execution, delivery and
performance by it of, the Lease and the transactions contemplated by the Lease; 

  

	(c)	the entry into and performance by Lessee of, and the transactions contemplated by, the Lease do not and will not: 

 

	 	(i)	conflict with any Laws binding on Lessee; or 

  

	 	(ii)	conflict with the By-laws of Lessee; or 

  

	 	(iii)	conflict with or result in default under any agreement or instrument which is binding upon Lessee or any of its assets or result in the creation of any Security
Interest. 

  
 71 

	(d)	no authorizations, consents, licenses, approvals and registrations (other than those which have been obtained and of which copies are attached hereto) are necessary or
desirable to be obtained from any governmental or other regulatory authorities in Mexico or any other jurisdiction having jurisdiction over Lessee, its operations or its properties to enable Lessee: 

 

	 	(i)	to enter into and perform the transactions contemplated by the Lease; 

  

	 	(ii)	to import the Engine into Mexico for the duration of the Term; 

  

	 	(iii)	to operate the Engine in Mexico; or 

  

	 	(iv)	to make the payments provided for in the Lease; 

  

	(e)	except for the filing and recordation of the Lease with the Mexican Aeronautical Registry (Registro Aeronáutico Mexicano) of the Air Authority (which
filing will be made in accordance with the terms of the Lease), it is not necessary or desirable, to ensure the priority, validity and enforceability of all the obligations of Lessee under the Lease, as against Lessee and all third parties, or to
perfect the interests of Lessor, that the Lease be filed, registered, recorded or notarized in any public office or elsewhere or that any other instrument be signed, delivered, filed, registered or recorded, that any tax or duty be paid or that any
other action whatsoever be taken; 

  

	(f)	the Lease has been duly executed and delivered on behalf of Lessee and constitutes the legal, valid and binding obligation of Lessee, enforceable against Lessee in
accordance with its terms; 

  

	(g)	Mexican withholding tax may apply however the Lessee has initiated legal proceedings regarding the applicability of such tax. No other withholding or deduction of any
other Tax or other amount in respect of payments to be made by Lessee pursuant to the Lease; with respect to any withholdings, the provisions of Section 5.6 of the Lease are fully effective; and the arrangements contemplated by the Lease do not
give rise to Taxes in Mexico; 

  

	(h)	there is no applicable usury or interest limitation law in Mexico applicable to payments in accordance with the Lease; 

 

	(i)	there are no registration, stamp or other taxes or duties of any kind payable in Mexico in connection with the execution, performance or enforcement by legal
proceedings of the Lease; 

  

	(j)	the choice of New York law to govern the Lease will be upheld as a valid choice of law in any action in the competent courts of Mexico, pursuant to Article 1347A
of the Commerce Code (Código de Comercio), which provides, inter alia, that any judgment rendered outside Mexico maybe enforced by Mexican courts, provided that: 

 

	 	1)	such judgment is obtained in compliance with the legal requirements of the jurisdiction of the court rendering such judgment and in compliance with all legal
requirements of the Operative Documents; 

  

	 	2)	such judgment is strictly for the payment of a certain sum of money, based on an in personam (as opposed to an in rem) action; 

 

	 	3)	service of process was made personally on the defendant or on the appropriate process agent; 

 

	 	4)	such judgment does not contravene Mexican law, public policy of Mexico, international treaties or agreements binding upon Mexico or generally accepted principles of
international law; 

  
 72 

	 	5)	the applicable procedure under the laws of Mexico with respect to the enforcement of foreign judgments (including the issuance of a letter rogatory by the competent
authority of such jurisdiction requesting enforcement of such judgment and the certification of such judgment as authentic by the corresponding authorities of such jurisdiction in accordance with the laws thereof), is complied with;

  

	 	6)	the action in respect of which judgment is rendered is not the subject matter of a lawsuit among the same parties pending before a Mexican court;

  

	 	7)	such judgment is final in the jurisdiction where obtained; and 

  

	 	8)	the courts of such jurisdiction recognize the principles of reciprocity in connection with the enforcement of Mexican judgments in such jurisdiction.

  

	(k)	the consent to the jurisdiction by Lessee contained in the Lease is valid and binding on Lessee; 

The foregoing opinion is subject to the following qualifications: 

 

	1.	enforcement of the Lease may be limited by bankruptcy, concurso mercantil, insolvency, liquidation, reorganization, moratorium and other similar laws of general
application relating to or affecting the rights of creditors generally; 

  

	2.	in any proceedings brought to the courts of Mexico for the enforcement of the Lease against the Lessee, a Mexican court would apply Mexican procedural law in such
proceedings; 

  

	3.	in the event that any legal proceedings are brought in the courts of Mexico, a Spanish translation of the documents required in such proceedings, prepared by a
court-approved translator, would be approved by the court after the defendant had been given an opportunity to be heard with respect to the accuracy of the translation, and proceeding would thereafter be based upon the translated documents;

  

	4.	in a bankruptcy proceeding initiated in Mexico pursuant to the laws of Mexico labor claims, claims of tax authorities for unpaid taxes, social security quotas,
worker’s housing fund quotas and retirement fund quotas may have priority over claims of the Lessor; and 

 I
express no opinion as to any laws other that the laws of Mexico. 
 This opinion is furnished to you solely for your and your
successors’ and permitted assigns’ benefit and it is not to be transferred to anyone else nor is it to be relied upon by anyone else or for the purpose or quoted or referred to in any public document or filed with anyone without my prior
written consent. 
  

	
	Very truly yours,
	
	[                    ]
	
	General Counsel

  
 73 

 SCHEDULE 9 

EVENTS OF DEFAULT 
 Each
of the following events or conditions constitutes an Event of Default: 
  

	 	(a)	Non-payment: Lessee fails to make any payment of Rent, Supplemental Rent or any other amount payable under the Lease on the due date and such failure continues
for three (3) Business Days or more; or 

  

	 	(b)	Insurance: Lessee fails to comply with any provision of Section 9 or Schedule 7, or any insurance required to be maintained under the Lease is
cancelled or terminated, or a notice of cancellation is given in respect of any such insurance arising as a result of non-payment of insurance premium and such notice is not cancelled or rescinded or the relevant insurance substituted without lapse
of coverage within 10 Business Days of receipt by Lessee’s designated insurance broker; or 

  

	 	(c)	Breach: Lessee fails to comply with any other provision of the Lease not referenced in this Schedule 9 and, if such failure is in the opinion of Lessor
capable of remedy, such failure continues for 30 days after notice from Lessor to Lessee; or 

  

	 	(d)	Representation: any representation or warranty made (or deemed to be repeated) by Lessee in or pursuant to the Lease or in any document or certificate or
statement is or proves to have been incorrect in any material respect when made or deemed to be repeated and if capable of being cured, is not cured within 30 days following notice from Lessor to Lessee; or 

 

	 	(e)	Cross-Default: 

  

	 	(i)	any Financial Indebtedness of Lessee in excess of ***** is not paid when due after giving effect to any applicable grace periods; 

 

	 	(ii)	any such Financial Indebtedness becomes due or capable of being declared due prior to the date when it would otherwise have become due; or becomes due as a result of an
event of default or termination event, howsoever described, on the part of Lessee or any other Person prior to the date when it would otherwise have become due; or 

 

	 	(iii)	the security for any such Financial Indebtedness becomes enforceable; or 

  

	 	(iv)	any event of default or termination event, howsoever described, occurs under any Other Agreement, or any other lease, hire purchase, conditional sale or credit sale
agreement of Lessee and the same is not cured under the applicable grace period (if any); or 

  

	 	(f)	Approvals: any consent, authorization, licence, certificate or approval of or registration with or declaration to any Government Entity required to be obtained
or maintained by Lessee in connection with the Lease and/or the operation of the Engine (including any airline licence or air transport licence including authority to operate the Engine under Part 121 of the FARs, a Certificate of Convenience
and Necessity issued under the Act and an air carrier operating certificate issued under the Act) is modified in a materially prejudicial manner or is withheld, or is revoked, suspended, cancelled, withdrawn, terminated or not renewed, or otherwise
ceases to be in full force except where the unacceptable modification, withholding, revocation, suspension, cancellation, withdrawal, termination or non-renewal (i) of the Lessee’s authority to operate the Engine affects all operators of
engines of the same type as the Engine, or (ii) may in so far as the airline license or air transport license required by Lessee are concerned, be capable of being remedied by Lessee within 30 days of receipt of notice by Lessee of such
event occurring; or 

  
 74 

	 	(g)	Bankruptcy, etc: 

  

	 	(i)	Lessee consents to the appointment of a custodian, receiver, trustee or liquidator of itself or all or a material part of its property or its consolidated property, or
Lessee admits in writing its inability to, or is unable to, or does not, pay its debts generally as they come due, or makes a general assignment for the benefit of creditors, or Lessee files a voluntary petition in bankruptcy or voluntary petition
seeking reorganization in a proceeding under any bankruptcy or insolvency laws (as now or hereafter in effect), or an answer admitting the material allegations of a petition filed against Lessee in any such proceeding, or Lessee by voluntary
petition, answer or consent seeks relief under the provisions of any other bankruptcy, insolvency or other similar law providing for the reorganization or winding-up of debtors, or provides for an agreement, composition, extension or adjustment with
its creditors, or any board of directors or shareholder action is taken by Lessee in furtherance of any of the foregoing, whether or not the same is fully effected or accomplished; or 

 

	 	(ii)	An order, judgement or decree is entered by any court appointing, without the consent of Lessee, a custodian, receiver, trustee or liquidator of or sequestering any of
Lessee’s property, and any such order, judgement or decree of appointment or sequestration remains in effect, undismissed, unstayed or unvacated for a period of 60 days after the date of entry thereof or at any time an order for relief is
granted; or 

  

	 	(iii)	An involuntary petition against Lessee or other proceeding under the United States Federal Bankruptcy laws or other insolvency laws (as now or hereafter in effect) is
filed and is not withdrawn or dismissed within 60 days thereafter or at any time an order for relief is granted in such proceeding, or if, under the provisions of any law providing for reorganisation or winding-up of debtors which may apply to
Lessee, any court of competent jurisdiction assumes jurisdiction over, or custody or control of, Lessee or of all or any material part of Lessee’s property, and such jurisdiction, custody or control remains in effect, unrelinquished, unstayed
or unterminated for a period of 60 days or at any time an order for relief is granted in such proceeding; or 

  

	 	(h)	Suspension of Business: Lessee suspends or ceases or takes substantive steps to suspend or cease to carry on all or a material part of its business as a
commercial air carrier [(other than as a result of a labor dispute with Lessee’s employees); or 

  

	 	(i)	Rights and Remedies: Lessee or any other Person claiming by or through Lessee challenges the existence, validity, enforceability or priority of the Lease or the
rights of Lessor as lessor or of Owner as owner in respect of the Engine or Financing Parties’ Representative as holder of a first priority Security Interest in the Engine and the Lease; or 

 

	 	(j)	 Change of Control: without the previous consent in writing of Lessor (in circumstances where the consent of Lessor is required under the Lease
and has not been unreasonably withheld), any single Person or group of Persons (other than a Person that is a shareholder of Lessee, or as a group of Persons who are shareholders of Lessee, on the date of the Lease) acquires (i) the direct or
indirect ability to vote in excess of 50% of the voting shares of Lessee, or (ii) the direct or indirect ability to appoint or remove more than 50% of the directors with voting rights or officers of

  
 75 

	 	
Lessee or (iii) the direct or indirect ability to give effective directions with respect to and control the management and operations and financial policies and decisions of Lessee, with
which the directors or other equivalent officers of Lessee are obligated to comply; provided, for purposes of clarification, a bona fide initial public offering of up to 70% of the voting equity shares of the Lessee shall not be deemed a change of
control under this Schedule 9(j) unless and until a circumstance described in clause (i), (ii) or (iii) otherwise exists; or 

  

	 	(k)	Delivery: Lessee fails to comply with its obligation under Section 4 to accept delivery of the Engine; or 

 

	 	(i)	Adverse Change: any event or series of events occurs which, in the reasonable opinion of Lessor, could be expected to have a material adverse effect on the
financial condition, operations or prospects of Lessee or any Guarantor or on the ability of Lessee to comply with its obligations under the Lease or on the ability of any Guarantor to comply with its obligations under the Guarantee (if any); or

  

	 	(m)	Letter of Credit: 

  

	 	(i)	the issuer of the Letter of Credit (if any) fails to make any payment under that Letter of Credit when due and Lessor has not received a cash deposit from Lessee in
respect of the amount drawn down under the Letter of Credit; or 

  

	 	(ii)	any such Letter of Credit is not in full force or, for any reason ceases to constitute the legal, valid and binding obligation of the issuer and such Letter of Credit
has not been replaced by a cash deposit from Lessee in an amount corresponding to such Letter of Credit or has not been replaced by a substitute Letter of Credit complying with the provisions of Section 5.14; or 

 

	 	(iii)	any authorization required by the issuer to obtain and transfer freely Dollars is withheld, revoked, suspended, cancelled, withdrawn, terminated or not renewed or
otherwise ceases to be in full force and effect or paragraph (g) above applies to such issuer (references in those sub-paragraphs to Lessee being deemed to be to the issuer) and Lessor has not received a cash deposit from Lessee in an amount
corresponding to the sum available for draw down under the Letter of Credit upon Lessee becoming aware of any of the foregoing circumstances; or 

  

	 	(iv)	where applicable, any Letter of Credit is not renewed, extended or reissued within the time, or replaced when, required by Section 5.14; 

and each reference in this paragraph (m) to “the issuer” shall include a reference to any confirming bank for the Letter
of Credit. 
  

	 	(n)	Redelivery: Lessee fails to return the Engine to Lessor on the Expiry Date in accordance with Section 12; or 

 

	 	(o)	Litigation: a final, non-appealable judgment for the payment of money not covered by insurance in excess of ***** (or the equivalent thereof in other currencies)
shall be rendered against Lessee and the same shall remain undischarged for a period of 30 days, unless during such period, execution of such judgement shall have been effectively stayed by agreement of the parties involved or by court order or
such judgement shall have been adequately bonded; or 

  
 76 

	 	(p)	Guarantee: 

  

	 	(i)	any representation or warranty made by any Guarantor is or proves to have been incorrect in any material respect when made or deemed to be repeated and, if capable of
being cured, has not been so cured within 30 days following notice from Lessor to Guarantor or Guarantor fails to make any payment or comply with any other obligation under any Guarantee when due; or 

 

	 	(ii)	any Guarantor repudiates, revokes or claims in writing that it has no further obligations under any Guarantee or such Guarantee ceases to be in full force or, for any
reason, ceases to be the legal, valid and binding obligation of such Guarantor; or 

  

	 	(iii)	any of the events listed in paragraph (e)(i) or (g) above occurs in respect of any Guarantor (and for purposes of this paragraph(s), references in those
paragraphs to Lessee shall be deemed to be references to Guarantor); or 

  

	 	(q)	Unlawful: it becomes unlawful for Lessee to perform any of its obligations under the Lease or the Lease becomes wholly or partly invalid or unenforceable; or

  

	 	(r)	Transfer/Lessee Requirements: Lessee makes or permits any assignment or transfer of the Lease, or any interest herein, or of the right to possession of the
Engine or any Part, or any obligations under the Lease, or Lessee subleases the Engine, in any case except as expressly permitted in the Lease; or Lessee breaches any provision of Section 8.7 and if capable of being cured, has not been cured
within 30 days following notice from Lessor to Lessee; or 

  

	 	(s)	Engine Loss: Lessee fails to timely comply with its obligations under Sections 8.11(a) and 8.11(b) with respect to an Event of Loss.

  
 77 

 SCHEDULE 10 

FORM OF INCIDENT STATEMENT 
 PLEASE PRINT OUT AND TRANSFER TO AIRLINE LETTERHEAD. 
  

	1.	Engine Serial Number:              

 

	2.	Reason for Removal:              

 

					
	3.    	  	Utilization:	 	Engine TSN              CSN              at
1st installation.
		  		 	  
 Engine TSN
             CSN              at 1st removal.
  

Aircraft TSN              CSN
             at 1st installation.
  
 Aircraft TSN
             CSN              at 1st removal.
  

Engine TSN              CSN
             at 2nd installation. (If applicable)
  

Engine TSN              CSN
             at 2nd removal. (If applicable)
  

Aircraft TSN              CSN
             at 2nd installation. (lf applicable)
  

Aircraft TSN              CSN
             at 2nd removal. (If applicable)

  

	4.	Date of installation:                     , removal:
             at 1st installation/removal. 

Date of installation:
                    , removal:              at 2nd installation/removal.
(If applicable) 
  

	5.	Aircraft Tail #,              Position installed:
             at 1st installation/removal. 

Thrust rating at which the Engine was operated at 1st installation/removal -
             
 Aircraft Tail #,
             Position installed:              at 2nd installation/removal. 

Thrust rating at which the Engine was operated at 2nd installation / removal: (if applicable) -
             
  

	6.	Has the Engine, including any component(s) installed or replaced by the Operator during the term of the lease, been operated on any U.S. and/or Foreign Government or
military aircraft, been subjected to any extreme heat or other form of extreme stress, e.g. Major Engine failure, fire and extreme heat, or incident/accident as defined by lessee’s regulatory authority, been immersed in salt water, or otherwise
exposed to corrosive agents outside normal operation. YES          NO          

 

	7.	Have PMA/non-OEM material (S) or material (S) containing non-OEM repairs been installed onto the engine during the term of the lease.
YES          NO          

  

	8.	Have there been ANY Deviations from Manual (Including any OEM approved deviations) issued to the Engine, or any hardware or component(s) attached to the Engine, during
the term of the lease. YES          NO          

 Note : If Yes please provide supporting OEM documentation, CDR and FAA 8110-3 

  
 78 

	9.	Has the engine been returned to GEEL with the same inventory as at delivery, per the lease agreement? 

YES          NO         

 NOTE - GEEL WILL ADDITIONALLY PERFORM A FULL INVENTORY CONTROL CHECK AT ENGINE REDELIVERY HOUSEKEEPER. 

NB :- If you are returning any items that have been removed from the engine and are being shipped loose, they must have an accompanying
EASA Form 1/8130 Form. 
  

	10.	WWAS THE ENGINE OPERATED AND MAINTAINED IN ACCORDANCE WITH THE AMM? YES         
NO          

  

	11.	Were there any Deferred items noted during the term of the Lease? YES         
NO          

 If YES, list the Deferred items and provide
documentation. 
  

	
	  

  

	12.	Has the Engine experienced an EGT or RPM exceedence? YES         
NO          

 If YES, supply details of troubleshooting and
RECTIFICATION. 
  

	13.	Were any Service Bulletins incorporated during the term of the Lease? 

 YES          NO          
 If YES, list the SB’s complied with below and provide documentation of compliance to include maintenance log records, date of compliance, and technician sign off. 

 

	
	  

  

	14.	Were any Airworthiness Directives (or AMOC) incorporated during the term of the Lease? 

YES          NO         

 If YES, list the AD’s complied with below and provide documentation of compliance to include maintenance log records,
date of compliance, and technician sign off. 
  

	
	  

 Note - An Alternative Method of Compliance or adjustment of the AD compliance requirements may be used if
approved by the appropriate Air Regulatory Authority Manager as noted under the parent AD. Where an AMOC has been applied, the operator must provide supporting documentation showing compliance with the AMOC, and the approval documentation of any
such AMOC from the appropriate Air Regulatory Authority Aircraft Certification Office. 
  

	15.	Were any LLP’s replaced during the term of the Lease? 

 YES          NO          
 Note : If Yes please supply copies of original EASA Form 1/8130 and documents required per Section 2 reference          LLP replacement. 

  
 79 

	16.A.	Oil type used:                      

 

	     B.	Oil consumption rate:                     

  

	17.	Was the Engine properly stored (if applicable) in accordance with the AMM/Engine Manual during the Term of the Lease? 

YES          NO         

  

	18.	Was the Engine properly transported in accordance with the AMM/Engine Manual during the term of the lease? 

YES          NO         

  

	19.	Per Special Provision A70 in the IATA Dangerous Goods Regulation, the fuel system has been completely emptied of fuel and therefore is not subject to IATA regulations.

 YES         
NO          
  

	20.	Has a “C” Check been completed on the Engine iaw the applicable AMM/MPD and certified on the FAA 8130-3 or 

EASA Form One Release Certificate “C” Check accomplished.? 

YES          NO         

  

			
		
	Signature:	 	  

			
		
	Title:	 	  

					
			
	Date:	 	  
	 	

 

					
			 
		 		 	 
			 
		 		 	 
			 
		 		 	 
		
	Stamp:	 	

 
 

  
 80 

 SCHEDULE 11 

RECOGNITION OF RIGHTS AGREEMENT 
 RECOGNITION AGREEMENT dated             , 2007, among: (i) [Celestial Aviation Trading 50 Limited (Celestial)],; and
[                    ] (Airframe Lessor/Owner). 
 WHEREAS: 
 (A) [Airframe Lessor/Owner] is the lessor/owner of one or more [Airbus model
        ] aircraft, bearing manufacturer’s serial number(s) [        ] (the “Aircraft”) operated by Concesionaria Vuela Compañía de
Aviación, S.A. de C.V. (“Volaris”); and 
 (B) Celestial is the lessor and owner of one or more
[        ] engines, bearing manufacturer’s serial number(s) [        ] (the “Celestial Engine”) and is leasing them to Volaris. The Celestial Engines may
from time to time be installed upon the Aircraft. 
 NOW IT IS AGREED: 
 1. Celestial and GECAS hereby agree in favor of [Airframe Lessor/Owner] [and [        ] (as mortgagee of the Aircraft)] to recognize the rights and interests of
[Airframe Lessor/Owner] [and [        ] in the Aircraft and any engine owned/leased by [Airframe Lessor/Owner] and operated by Volaris. 
 2. Each of [Airframe Lessor/Owner] [and [        ] hereby undertakes: 
 (i) to recognize the rights and interests of Celestial and any creditor of Celestial in (a) any Celestial Engine installed on the Aircraft and (b) insurance proceeds payable in respect of any
Celestial Engine in excess of the agreed value of the Aircraft on which it is installed; and 
 (ii) not to claim or assert, as
against Celestial or any relevant creditor of Celestial, any right, title or interest in any Celestial Engine and such insurance proceeds arising by virtue of the installation of any Celestial Engine on the Aircraft. 

3. Each party hereto hereby agrees to waive, to the extent in conflict with this Recognition Agreement, the benefit of any contrary provisions of
applicable law. 
 4. This Recognition of Rights Agreement shall be governed by and construed in accordance with the laws of the State of New
York, USA. 
  

			
	[insert name of Airframe Lessor/Owner]
		
	By:	 	  

		
	Title:	 	  

  

									
	CELESTIAL AVIATION TRADING 50 LIMITED	 		 	GE COMMERCIAL AVIATION SERVICES LIMITED
					
	By:	 	  
	 		 	By:	 	  

					
	Title:	 		 		 	Title:	 	

  
 81 

 SCHEDULE 12A 

FORM OF POWER OF ATTORNEY 

PRIMERA.- El señor         , en su calidad de representante legal de CONCESIONARIA VUELA
COMPAÑÍA DE AVIACIÓN SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE, otorga en favor de GE COMMERCIAL AVIATION SERVICES LIMITED y [Financing Parties’ Representative], para ser ejercitado conjunta o separadamente, PODER
ESPECIAL CON CARÁCTER DE IRREVOCABLE, por ser condición en un contrato bilateral según lo previsto en el artículo dos mil quinientos noventa y seis del Código Civil para el Distrito Federal y su correlativo del
Código Civil Federal y de los Códigos Civiles de los Estados de la República Mexicana en donde se ejercite, con facultades generales para PLEITOS Y COBRANZAS y para ACTOS DE ADMINISTRACIÓN, en los términos de los
dos primeros párrafos del artículo dos mil quinientos cincuenta y cuatro y del artículo dos mil quinientos ochenta y siete del Código Civil para el Distrito Federal y su correlativo del Código Civil Federal y de
las Códigos Civiles de los Estados de la República Mexicana en donde se ejercite, LIMITADO EN CUANTO A SU OBJETO, para que en forma enunciativa mas no limitativa, en caso de incumplimiento o cualquier otra causa de terminación
según se establece en (i) el contrato de términos comunes de arrendamiento de motor de fecha      de          de         ,
celebrado per GE Commercial Aviation Services Limited y Concesionaria Vuela Campañía de Aviación, S.A. de C.V., y en (ii) el contrato de arrendamiento de motor de fecha      de
         de         , celebrado por         , en su carácter de arrendador y Concesionaria Vuela Compañía de
Aviación, S.A. de C.V., en su carácter de arrendatario, en relation con el motor modelo          con número de serie          actúe en
representación de Concesionaria Vuela Compañía de Aviación, S.A. de C.V. y Ileve a cabo las acciones, los trámites y procedimientos necesarios para la obtención de los permisos, derechos, información,
autorizaciones y aprobaciones requeridos para la cancelación de registros e inscripciones ante la Dirección General de Aeronáutica Civil y/o el Registro Aeronáutico Mexicano, así como para la entrega,
recuperación, exportación y transportacíon al extranjero de unmotor         , (        ), con número de serie del fabricante
    , (        ), así como para comparecer en representacíon de Concesionaria Vuela Campania de Aviación, S.A. de C.V., ante cualquier autoridad, instancia o entidad
competente, ya sea Gubernamental a Judicial o de otra indole con respecto de dicho propósito y para ejercitar todos aquellos derechos que de conformidad con las !eyes y reglamentos aplicables puedan asistir en la obtención de dichos
permisos, derechos, autorizaciones o aprobaciones en relacíon con dicho motor. Asimismo, en forma enunciativa más no limitativa, el apoderado queda facultado para: promover, solicitar y gestionar para que en representación de
Concesionaria vuela Compañía de Aviación, S.A. de C.V., lleve a cabo los trámites, procedimientos, y para que firmen cualesquiera documentos necesarios con respecto a cualesquiera seguros y/o para la cobranza de los
productos de seguros relacionados on motor         , (        ), con número de serie del fabricante         ,
(        ). 
 SEGUNDA. En el ejercicio de sus facultades la apoderada estará facultada para
sustituir total o parcialmente dichas facultades y revocar tales substituciones. 
 TERCERA. Este poder se otorga con el carácter de
irrevocable por ser un medio para cumplir con una obligación con traída con anterioridad. 
 CUARTA. Los apoderados,
indistintamente, podrán llevar a cabo los actos u operaciones que haga necesaria la naturaleza y objeto del presente poder, pudiendo firmar cuantos documentos públicos o privados sean menester para su cabal cumplimiento. Adicionalmente
estará autorizado para registrar, cancelar el registro y autorizar el registro o cancelación del registro de cualquier derecho derivado del motor         ,
(        ), con número de serie del fabricante         , (        ) en el Registro Internacional de conformidad con la
Convención de Cape Town. 
  

			
	Por:	 	  

		
	Cargo:	 	  

  
 82 

 UNIVERSAL ENGLISH TRANSLATION OF THE FORM OF POWER OF ATTORNEY IN SPANN 

First, Mr                     , in his capacity as
attorney in fact of CONCESIONARIA VUELA COMPAÑÍA DE AVIACIÓN, [SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE], hereby grants in favor of GE COMMERCIAL AVIATION SERVICES LIMITED and [Financing Parties’ Representative], to be
exercised jointly or severally, a SPECIAL POWER OF ATTORNEY IN AN IRREVOCABLE CHARACTER, as it is a condition set forth under certain bilateral agreement according to the provisions of article two thousand five hundred ninety-six of the of the Civil
Code for the Federal District and its related one of the Federal Civil Code and of the Civil Codes for all the States of the Mexican Republic in which this power of attorney shall be exercised, with general powers for LAWSUITS AND COLLECTIONS and
for ACTS OF ADMINISTRATION, under the terms of the first two paragraphs of article two thousand five hundred fifty-four and article two thousand five hundred eighty-seven of the Civil Code for the Federal District and its related one of the Federal
Civil Code and of the Civil Codes for all the States of the Mexican Republic in which this power shall be exercised, LIMITED WITH RESPECT TO ITS OBJECT, in order that as an enumeration but not as a limitation, in case there occurs an event of
default or any other termination event as set forth in (i) certain engine lease common terms agreement dated     ,                 , entered
into by and between GE Commercial Aviation Services Limited y Concesionaria Vuela Compañía de Aviación, S.A. de CV., and (ii) the engine lease agreement dated
                    , entered into and between          in its capacity as lessor and Concesionaria Vuela
Compañía de Aviación, S.A. de CV., in its capacity as lessee, in connection with an engine          (            ), with
manufacturers serial number          (        ), he/she acts on behalf of CONCESIONARIA VUELA COMPAÑÍA DE AVIACIÓN, SOCIEDAD ANÓNIMA DE
CAPITAL VARIABLE, and he/she carries out the necessary procedures, actions and proceedings for the obtainment of the permits, duties, information, authorizations and approvals required for the cancellation of registrations, records of the engine
with the Direction General of Civil Aeronautics and/or Mexican Aeronautics Registry, as well as for the delivery, recovery and exportation of an engine         
(        ), [with manufacturers serial number          (        ), as well as to appear on behalf of CONCESIONARIA VUELA
COMPAÑÍA DE AVIACIÓN SOC1EDAD ANÓNIMA DE CAPITAL VARIABLE, before any competent authority, instance or entity, whether Governmental or Judicial or of other kind with respect to such purpose and to exercise all those
rights that pursuant to the applicable laws and regulations may assist in the obtainment of such permits, duties, authorizations or approvals relating to such engine. Likewise, as an enumeration but not as a limitation the attorney in fact is
authorized to: promote, request and negotiate in order that on behalf of “LESSEE”, Concesionaria Vuela Compañía de Aviación, S.A. de C.V., he/she takes the necessary steps and carries out the procedures to execute any
documents that may be necessary with respect to any insurance and/or the collection of the proceeds under any related to an engine          (        ), manufacturers
serial number          (        ), [with certificate of registration with the United Mexican States]. 
 SECOND.- In exercise of his/her faculties the attorney in fact shall be authorized to substitute in whole or in part such faculties and revoke such substitutions. 

THIRD.- This power of attorney is granted in an irrevocable character as it is a mean to comply with an obligation previously assumed. 

FOURTH.- Each attorney in fact shall be authorized to carry out the acts or transactions that are necessary due to the nature and object of this power of
attorney, haying authority as well to execute the public or private documents that may be necessary for its full compliance 

  
 83 

 SCHEDULE 12B 

FORM OF IRREVOCABLE DE-REGISTRATION AND EXPORT REQUEST AUTHORISATION 
 Pursuant to Article XIII 
 Of the 
 Cape Town Convention and 
 Aircraft Equipment Protocol 

[Insert Date] 
  

	To:	[Insert Name of Registry Authority] 

  

	Re:	Irrevocable De-Registration and Export Request Authorisation 

 The undersigned is the registered [operator] [owner] of the [insert the engine manufacturer name and model number] bearing manufacturer’s serial number [insert manufacturer’s serial number] and
registration [number] [mark] [insert registration number/mark] (together with all installed, incorporated or attached accessories, parts and equipment, the “Engine”). 
 This instrument is an irrevocable de-registration and export request authorisation issued by the undersigned in favour of [insert name of lessor/creditor] (“the authorised party”) under the
authority of Article XIII of the Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Aircraft Equipment. In accordance with that Article, the undersigned hereby requests: 

 

	(i)	recognition that the authorised party or the person it certifies as its designee is the sole person entitled to: 

 

	 	(a)	[procure the de-registration of the Engine from the [insert name of aircraft register] maintained by the [insert name of registry authority] for the purposes of Chapter
III of the Convention on International Civil Aviation, signed at Chicago, on 7 December 1944,] and 

  

	 	(b)	procure the export and physical transfer of the Engine from [insert name of country]; and 

 

	(ii)	confirmation that the authorised party or the person it certifies as its designee may take the action specified in clause (i) above on written demand without the
consent of the undersigned and that, upon such demand, the authorities in [insert name of country] shall cooperate with the authorised party with a view to the speedy completion of such action. 

The rights in favour of the authorised party established by this instrument may not be revoked by the undersigned without the written consent of the
authorised party. 
 Please acknowledge your agreement to this request and its terms by appropriate notation in the space provided below and
lodging this instrument to 
 [insert name of registry authority]. 

  
 84 

 SCHEDULE 13 

PROCESS AGENT POWER OF ATTORNEY 
 UNICA.-CONCESIONARIA VUELA COMPAÑÍA DE AVIACIÓN SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE, según lo previsto en el artículo dos mil quinientos cincuenta y tres del
Código Civil para el Distrito Federal y su correlativo del Códigos Civil Federal y de los Códigos Civiles de los Estados de la República Mexicana en donde se ejercite otorga poder especial, a favor de Incluir
denominación de Agente de Proceso], con domicilio en [Incluir domicilio de Agente de Proceso], pero tan amplio como sea necesario en cuanto a las facultades que comprende para ser ejercitado en cualquier jurisdición, para que reciba,
en nombre y representación de CONCESIONAR1A VUELA COMPAÑÍA DE AVIACIÓN SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE, todas y cada una de las notificaciones, emplazamientos y en general documentos de cualquier
índole, en relación con cualquier procedimiento, incluyendo sin limitación, procedimientos judiciales, administrativos o arbitrales, en relación con (i) une contrato de términos comunes de arrendamiento de
motor de fecha      de          de         , celebrado por GE Comercial Aviation Services Limited y Concesionaria Vuela Compañía de
Aviación, S.A. de C.V., y (ii) el contrato de arrendamiento de motor de fecha      de          de         , celebrado por Celestial
Aviation trading 50 Limited, en su carácter de arrendador y Concesionaria Vuela Compañía de Aviación, S.A. de C.V., en su carácter de arrendatario, en relació con el motor modelo
         con número de serie         , o de cualquier documento derivado o que tenga relación con dichos instrumentos. 

El presente mandato, aunque especial, se otorga tan amplio, cumplido y bastante como en derecho se requiera, para que el apoderado pueda recibir toda
documentación relacionada con los negocios mencionados en el párrafo anterior, en forma expresamente establecida. 
 UNOFFICIAL
ENGLISH TRANSLATION OF THE FORM OF POWER OF ATTORNEY IN SPANISH 
 SOLE.         , SOCIEDAD
ANÓNIMA DE CAPITAL VARIABLE, according to the provisions of article two thousand five hundred and fifty three of the Civil Code for the Federal District and its related Federal Civil Code and of the Civil Codes for all the States of the
Mexican Republic in which this power of attorney shall be exercised hereby grants in favor of [INCLUDE NAME OF AGENT FOR SERVICE OF PROCESS], with address at [ADDRESS OF AGENT FOR SERVICE OF PROCESS] a SPECIAL POWER OF ATTORNEY, but as broad as
required by law to be exercised in any jurisdiction, in order to receive, in the name and on behalf of          SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE, any and all notifications, service of process and in
general any type of documents, related to any procedures, processes, lawsuits, including without limitation, judicial, administrative or arbitration procedures, in connection with (i) certain engine lease common terms agreement dated
    ,                  entered into by and between GE Commercial Aviation Services Limited y Concesionaria Vuela Compañía de
Aviación, S.A. de C.V., and (ii) the engine lease agreement dated                     , entered into by and between
        , in its capacity as lessor and Concesionaria Vuela Compañía de Aviación, S.A. de C.V, in its capacity as lessee, in connection with an
engine         (            ), with manufacturers serial number         
(        ) or any other document derived or related therewith. 
 This power of attorney, although
special, is granted in the broadest way permitted by law, in order that the attorney-in-fact may receive any documentation related to the transactions described above. 

  
 85

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