Document:

e60709081ex4_1.htm

    
 

    

    

    

    

    

    

    TRUST
SUPPLEMENT No. 2009-1A-O

    

    Dated as
of  July 1, 2009

    

    

    between

    

    WILMINGTON
TRUST COMPANY

    as
Trustee,

    

    

    and

    

    

    CONTINENTAL
AIRLINES, INC.

    

    to

    

    PASS
THROUGH TRUST AGREEMENT

    Dated as
of September 25, 1997

    

    

    $389,687,000

    

    Continental
Airlines Pass Through Trust 2009-1A-O

    9.000%
Continental Airlines

    Pass
Through Certificates,

    Series
2009-1A-O

    

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    TABLE OF CONTENTS

    
 

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                
                                                                  
                                                                    
                                                                      
                                                                        
                                                                          
                                                                            
                                                                              
                                                                                	 
      	
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                                                                                        ARTICLE I THE
      CERTIFICATES

                                                                                      	
                                                                                         

                                                                                        2

                                                                                      
	
                                                                                        Section 1.01.  The
      Certificates

                                                                                      	
                                                                                        2

                                                                                      
	
                                                                                         

                                                                                        ARTICLE II
      DEFINITIONS

                                                                                      	
                                                                                         

                                                                                        4

                                                                                      
	
                                                                                        Section
      2.01.  Definitions

                                                                                      	
                                                                                        4

                                                                                      
	
                                                                                         

                                                                                        ARTICLE III DISTRIBUTIONS;
      STATEMENTS TO CERTIFICATEHOLDERS

                                                                                      	
                                                                                         

                                                                                        10

                                                                                      
	
                                                                                        Section
      3.01.  Statements to Applicable
      Certificateholders

                                                                                      	
                                                                                        10

                                                                                      
	
                                                                                        Section
      3.02.  Special Payments Account

                                                                                      	
                                                                                        11

                                                                                      
	
                                                                                        Section
      3.03.  Distributions from Special Payments
      Account

                                                                                      	
                                                                                        12

                                                                                      
	
                                                                                        Section
      3.04.  Limitation of Liability for
      Payments

                                                                                      	
                                                                                        13

                                                                                      
	
                                                                                         

                                                                                        ARTICLE IV
      DEFAULT

                                                                                      	
                                                                                         

                                                                                        13

                                                                                      
	
                                                                                        Section
      4.01.  Purchase Rights of
      Certificateholders

                                                                                      	
                                                                                        13

                                                                                      
	
                                                                                        Section
      4.02.  Amendment of Section 6.05 of the Basic
      Agreement

                                                                                      	
                                                                                        14

                                                                                      
	
                                                                                         

                                                                                        ARTICLE V THE
      TRUSTEE

                                                                                      	
                                                                                         

                                                                                        15

                                                                                      
	
                                                                                        Section
      5.01.  Delivery of Documents; Delivery
      Dates

                                                                                      	
                                                                                        15

                                                                                      
	
                                                                                        Section
      5.02.  Withdrawal of Deposits

                                                                                      	
                                                                                        16

                                                                                      
	
                                                                                        Section 5.03.  The
      Trustee

                                                                                      	
                                                                                        16

                                                                                      
	
                                                                                        Section
      5.04.  Representations and Warranties of the
      Trustee

                                                                                      	
                                                                                        16

                                                                                      
	
                                                                                        Section
      5.05.  Trustee Liens

                                                                                      	
                                                                                        17

                                                                                      
	
                                                                                         

                                                                                        ARTICLE VI ADDITIONAL AMENDMENT;
      SUPPLEMENTAL AGREEMENTS

                                                                                      	
                                                                                         

                                                                                        18

                                                                                      
	
                                                                                        Section
      6.01.  Amendment of Section 5.02 of the Basic
      Agreement

                                                                                      	
                                                                                        18

                                                                                      
	
                                                                                        Section
      6.02.  Supplemental Agreements Without Consent of Applicable
      Certificateholders

                                                                                      	
                                                                                        18

                                                                                      
	
                                                                                        Section
      6.03.  Supplemental Agreements with Consent of Applicable
      Certificateholders

                                                                                      	
                                                                                        18

                                                                                      
	
                                                                                        Section
      6.04.  Consent of Holders of Certificates Issued under Other
      Trusts

                                                                                      	
                                                                                        18

                                                                                      
	
                                                                                         

                                                                                        ARTICLE VII TERMINATION OF
      TRUST

                                                                                      	
                                                                                         

                                                                                        19

                                                                                      
	
                                                                                        Section
      7.01.  Termination of the Applicable
      Trust

                                                                                      	
                                                                                        19

                                                                                      
	
                                                                                         

                                                                                        ARTICLE VIII MISCELLANEOUS
      PROVISIONS

                                                                                      	
                                                                                         

                                                                                        21

                                                                                      
	
                                                                                        Section 8.01.  Basic Agreement
      Ratified

                                                                                      	
                                                                                        21

                                                                                      
	
                                                                                        Section
      8.02.  GOVERNING LAW

                                                                                      	
                                                                                        21

                                                                                      
	
                                                                                        Section
      8.03.  Execution in Counterparts

                                                                                      	
                                                                                        21

                                                                                      
	
                                                                                        Section
      8.04.  Intention of Parties

                                                                                      	
                                                                                        21

                                                                                      
	
                                                                                         

                                                                                        Exhibit A    -           Form
      of Certificate

                                                                                      	 
      
	
                                                                                        Exhibit B    -           DTC
      Letter of Representations

                                                                                      	 
      
	
                                                                                        Exhibit C    -           Form
      of Assignment and Assumption Agreement

                                                                                      	 
      

                                                                              

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

      
        
           

        

        
           

          
            

          

        

        
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    This
Trust Supplement No. 2009-1A-O, dated as of July 1, 2009 (herein called the
“Trust
Supplement”), between Continental Airlines, Inc., a Delaware corporation
(the “Company”), and
Wilmington Trust Company (the “Trustee”), to the
Pass Through Trust Agreement, dated as of September 25, 1997, between the
Company and the Trustee (the “Basic
Agreement”).

    

    

    W I T N E S S E T H:

    

    WHEREAS,
the Basic Agreement, unlimited as to the aggregate principal amount of
Certificates (unless otherwise specified herein, capitalized terms used herein
without definition having the respective meanings specified in the Basic
Agreement) which may be issued thereunder, has heretofore been executed and
delivered;

    

    WHEREAS,
the Company currently owns 12 Boeing Aircraft (collectively, the “Owned Aircraft”) and
has obtained commitments from Boeing for the delivery of five additional
Aircraft (collectively, the “New Aircraft”,
together with the Owned Aircraft,  the “Applicable
Aircraft”);

    

    WHEREAS,
the Company intends to finance (i) each Owned Aircraft after the existing
security interest on such Owned Aircraft has been discharged and (ii) a portion
of the purchase price of the New Aircraft;

    

    WHEREAS,
with respect to each Applicable Aircraft, the Company will issue pursuant to an
Indenture, on a recourse basis, Equipment Notes (i) in the case of each Owned
Aircraft, to finance such Owned Aircraft after the existing security interest on
such Owned Aircraft has been discharged, and (ii) in the case of each New
Aircraft, to finance a portion of the purchase price of such New
Aircraft;

    

    WHEREAS,
the Trustee hereby declares the creation of the Continental Airlines Pass
Through Trust 2009-1A-O (the “Applicable Trust”)
for the benefit of the Applicable Certificateholders, and the initial Applicable
Certificateholders as the grantors of the Applicable Trust, by their respective
acceptances of the Applicable Certificates, join in the creation of the
Applicable Trust with the Trustee;

    

    WHEREAS,
all Certificates to be issued by the Applicable Trust will evidence fractional
undivided interests in the Applicable Trust and will convey no rights, benefits
or interests in respect of any property other than the Trust Property except for
those Certificates to which an Escrow Receipt has been affixed;

    

    WHEREAS,
the Escrow Agent and the Underwriters have contemporaneously herewith entered
into an Escrow Agreement with the Escrow Paying Agent pursuant to which the
Underwriters have delivered to the Escrow Agent the proceeds from the sale of
the Applicable Certificates, and have irrevocably instructed the Escrow Agent to
withdraw and pay funds from such proceeds upon request and proper certification
by the Trustee to purchase Equipment Notes

    

    
      
        
           

        

        
           

          
            

          

        

        
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    as the
conditions set forth in the NPA for such purchase are satisfied from time to
time prior to the Delivery Period Termination Date;

    

    WHEREAS,
the Escrow Agent on behalf of the Applicable Certificateholders has
contemporaneously herewith entered into a Deposit Agreement with the Depositary
under which the Deposits referred to therein will be made and from which it will
withdraw funds to allow the Trustee to purchase Equipment Notes from time to
time prior to the Delivery Period Termination Date;

    

    WHEREAS,
pursuant to the terms and conditions of the Basic Agreement as supplemented by
this Trust Supplement (the “Agreement”) and the
NPA, upon the financing of an Applicable Aircraft under the NPA, the Trustee on
behalf of the Applicable Trust, using funds withdrawn under the Escrow
Agreement, shall purchase one or more Equipment Notes having the same interest
rate as, and final maturity date not later than the final Regular Distribution
Date of, the Applicable Certificates issued hereunder and shall hold such
Equipment Notes in trust for the benefit of the Applicable
Certificateholders;

    

    WHEREAS,
all of the conditions and requirements necessary to make this Trust Supplement,
when duly executed and delivered, a valid, binding and legal instrument in
accordance with its terms and for the purposes herein expressed, have been done,
performed and fulfilled, and the execution and delivery of this Trust Supplement
in the form and with the terms hereof have been in all respects duly
authorized;

    

                          WHEREAS,
this Trust Supplement is subject to the provisions of the Trust Indenture Act of
1939, as amended, and shall, to the extent applicable, be governed by such
provisions;

    

    NOW
THEREFORE, in consideration of the premises herein, it is agreed between the
Company and the Trustee as follows:

     

    ARTICLE I

    THE
CERTIFICATES

     

    Section 1.01.  The
Certificates.  There
is hereby created a series of Certificates to be issued under the Agreement to
be distinguished and known as “Continental Airlines Pass Through Certificates,
Series 2009-1A-O” (hereinafter defined as the “Applicable
Certificates”).  Each Applicable Certificate represents a
fractional undivided interest in the Applicable Trust created
hereby.  The Applicable Certificates shall be the only instruments
evidencing a fractional undivided interest in the Applicable Trust.

    

    The terms
and conditions applicable to the Applicable Certificates are as
follows:

    

    (a)           The
aggregate principal amount of the Applicable Certificates that shall be
authenticated under the Agreement (except for Applicable Certificates
authenticated and delivered under Sections 3.03, 3.04, 3.05 and 3.06 of the
Basic Agreement) is $389,687,000.

    

    

    
      
        
           

        

        
           

          
            

          

        

        
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    (b)           The
Regular Distribution Dates with respect to any payment of Scheduled Payments
means January 8 and July 8 of each year, commencing on January 8, 2010, until
payment of all of the Scheduled Payments to be made under the Equipment Notes
has been made.

    

    (c)           The
Special Distribution Dates with respect to the Applicable Certificates means any
Business Day on which a Special Payment is to be distributed pursuant to the
Agreement.

    

    (d)           At
the Escrow Agent's request under the Escrow Agreement, the Trustee shall affix
the corresponding Escrow Receipt to each Applicable Certificate.  In
any event, any transfer or exchange of any Applicable Certificate shall also
effect a transfer or exchange of the related Escrow Receipt.  Prior to
the Final Withdrawal Date, no transfer or exchange of any Applicable Certificate
shall be permitted unless the corresponding Escrow Receipt is attached thereto
and also is so transferred or exchanged.  By acceptance of any
Applicable Certificate to which an Escrow Receipt is attached, each Holder of
such an Applicable Certificate acknowledges and accepts the restrictions on
transfer of the Escrow Receipt set forth herein and in the Escrow
Agreement.

    

    
      (e)    (i)    The
Applicable Certificates shall be in the form attached hereto as Exhibit
A.  Any Person acquiring or accepting an Applicable Certificate or an
interest therein will, by such acquisition or acceptance, be deemed to represent
and warrant to and for the benefit of the Company that either (i) the assets of
an employee benefit plan subject to Title I of the Employee Retirement Income
Security Act of 1974, as amended (“ERISA”), or of a plan
subject to Section 4975 of the Internal Revenue Code of 1986, as amended (the
“Code”), have
not been used to purchase or hold Applicable Certificates or an interest therein
or (ii) the purchase and holding of Applicable Certificates or an interest
therein is exempt from the prohibited transaction restrictions of ERISA and the
Code pursuant to one or more prohibited transaction statutory or administrative
exemptions.

    

    

    (ii)           The
Applicable Certificates shall be Book-Entry Certificates and shall be subject to
the conditions set forth in the Letter of Representations between the Company
and the Clearing Agency attached hereto as Exhibit B.

    

    (f)           The
“Participation Agreements” as defined in this Trust Supplement are the “Note
Purchase Agreements” referred to in the Basic Agreement.

    

    (g)           The
Applicable Certificates are subject to the Intercreditor Agreement, the Deposit
Agreement and the Escrow Agreement.

    

    (h)           The
Applicable Certificates are entitled to the benefits of the Liquidity
Facility.

    

    (i)           The
Responsible Party is the Company.

    

    

    
      
        
           

        

        
           

          
            

          

        

        
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    (j)           The
date referred to in clause (i) of the definition of the term “PTC Event of
Default” in the Basic Agreement is the Final Maturity Date.

    

    (k)           The
“particular sections of the Note Purchase Agreement”, for purposes of clause (3)
of Section 7.07 of the Basic Agreement, are Section 8.1 of each Participation
Agreement.

    

    (l)           The
Equipment Notes to be acquired and held in the Applicable Trust, and the related
Aircraft and Note Documents, are described in the NPA.

     

    ARTICLE II

    DEFINITIONS

     

    Section 2.01.  Definitions.  For
all purposes of the Basic Agreement as supplemented by this Trust Supplement,
the following capitalized terms have the following meanings (any term used
herein which is defined in both this Trust Supplement and the Basic Agreement
shall have the meaning assigned thereto in this Trust Supplement for purposes of
the Basic Agreement as supplemented by this Trust Supplement):

    

    Agreement:  Has
the meaning specified in the recitals hereto.

    

    Aircraft:  Means
each of the Applicable Aircraft or Substitute Aircraft in respect of which a
Participation Agreement is to be or is, as the case may be, entered into in
accordance with the NPA (or any substitute aircraft, including engines therefor,
owned by the Company and securing one or more Equipment Notes).

    

    Aircraft Purchase
Agreement:  Has the meaning specified in the NPA.

    

    Applicable
Aircraft:  Has the meaning specified in the recitals
hereto.

    

    Applicable
Certificate:  Has the meaning specified in Section 1.01 of
this Trust Supplement.

    

    Applicable
Certificateholder:  Means the Person in whose name an
Applicable Certificate is registered on the Register for the Applicable
Certificates.

    

    Applicable Closing
Date:  Has the meaning specified in Section 5.01(b) of this
Trust Supplement.

    

    Applicable Participation
Agreement:  Has the meaning specified in Section 5.01(b) of
this Trust Supplement.

    

    Applicable
Trust:  Has the meaning specified in the recitals
hereto.

    

    

    
      
        
           

        

        
           

          
            

          

        

        
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    Assignment and Assumption
Agreement:  Means the assignment and assumption agreement
substantially in the form of Exhibit C hereto executed and delivered in
accordance with Section 7.01 of this Trust Supplement.

    

    Basic
Agreement:  Has the meaning specified in the first paragraph of
this Trust Supplement.

    

    Boeing:  Means
The Boeing Company.

    

    Business
Day:  Means any day other than a Saturday, a Sunday or a day on
which commercial banks are required or authorized to close in Houston, Texas,
New York, New York, or, so long as any Applicable Certificate is Outstanding,
the city and state in which the Trustee, the Subordination Agent or any Loan
Trustee maintains its Corporate Trust Office or receives and disburses
funds.

    

    Certificate:  Has
the meaning specified in the Intercreditor Agreement.

    

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

    

    Class:  Has
the meaning specified in the Intercreditor Agreement.

    

    Closing
Notice:  Has the meaning specified in the NPA.

    

    Company:  Has
the meaning specified in the first paragraph of this Trust
Supplement.

    

    Continental Bankruptcy
Event: Has the meaning specified in the Intercreditor
Agreement.

    

    Controlling
Party:  Has the meaning specified in the Intercreditor
Agreement.

    

    Cut-off
Date:  Means the earlier of (a) the Delivery Period Termination
Date and (b) the date on which a Triggering Event occurs.

    

    Delivery Period Termination
Date:  Means the earlier of (a) December 31, 2009, and (b)
the date on which Equipment Notes issued with respect to all of the Aircraft (as
defined in the NPA) (including any Substitute Aircraft in lieu of the New
Aircraft (as

    

    
      
        
           

        

        
           

          
            

          

        

        
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    defined
in the NPA)) have been purchased by the Applicable Trust in accordance with the
NPA.

    

    Deposit
Agreement:  Means the Deposit Agreement dated as of July 1,
2009 relating to the Applicable Certificates between the Depositary and the
Escrow Agent, as the same may be amended, supplemented or otherwise modified
from time to time in accordance with its terms.

    

    Depositary:  Means
The Bank of New York Mellon, a bank chartered under the laws of the State of New
York.

    

    Deposits:  Has
the meaning specified in the Deposit Agreement.

    

    Distribution
Date:  Means any Regular Distribution Date or Special
Distribution Date as the context requires.

    

    Escrow
Agent:  Means, initially, Wells Fargo Bank Northwest, National
Association, and any replacement or successor therefor appointed in accordance
with the Escrow Agreement.

    

    Escrow
Agreement:  Means the Escrow and Paying Agent Agreement dated
as of July 1, 2009 relating to the Applicable Certificates, among the Escrow
Agent, the Escrow Paying Agent, the Trustee and Underwriters, as the same may be
amended, supplemented or otherwise modified from time to time in accordance with
its terms.

    

    Escrow Paying
Agent:  Means the Person acting as paying agent under the
Escrow Agreement.

    

    Escrow
Receipt:  Means the receipt substantially in the form annexed
to the Escrow Agreement representing a fractional undivided interest in the
funds held in escrow thereunder.

    

    Final Maturity
Date:  Means January 8, 2018.

    

    Final
Withdrawal:  Has the meaning specified in the Escrow
Agreement.

    

    Final Withdrawal
Date:  Has the meaning specified in the Escrow
Agreement.

    

    Final Withdrawal
Notice:  Has the meaning specified in Section 5.02 of this
Trust Supplement.

    

    Indenture:  Means
each of the separate trust indentures and mortgages relating to the Aircraft,
each as specified or described in a Closing Notice delivered pursuant to the NPA
or the related Participation Agreement, in each case as the same may be amended,
supplemented or otherwise modified from time to time in accordance with its
terms.

    

    

    
      
        
           

        

        
           

          
            

          

        

        
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    Intercreditor
Agreement:  Means the Intercreditor Agreement dated as of July
1, 2009 among the Trustee, the Liquidity Provider and Wilmington Trust Company,
as Subordination Agent and as trustee thereunder, as amended, supplemented or
otherwise modified from time to time in accordance with its terms.

    

    Investors:  Means
the Underwriters, together with all subsequent beneficial owners of the
Applicable Certificates.

    

    Liquidity
Facility:  Means, initially, the Revolving Credit Agreement
dated as of July 1, 2009 relating to the Applicable Certificates, between the
Liquidity Provider and Wilmington Trust Company, as Subordination Agent, as
agent and trustee for the Applicable Trust, and, from and after the replacement
of such agreement pursuant to the Intercreditor Agreement, the replacement
liquidity facility therefor, in each case as amended, supplemented or otherwise
modified from time to time in accordance with their respective
terms.

    

    Liquidity
Provider:  Means, initially, Goldman Sachs Bank USA, a
corporation organized under the Banking Law of the State of New York, and any
replacements or successors therefor appointed in accordance with the
Intercreditor Agreement.

    

    New
Aircraft:  Has the meaning specified in the recitals of this
Trust Supplement.

    

    Note
Documents:  Means the Equipment Notes with respect to the
Applicable Certificates and, with respect to any such Equipment Note, the
Indenture and the Participation Agreement relating to such Equipment
Note.

    

    Notice of Purchase
Withdrawal:  Has the meaning specified in the Deposit
Agreement.

    

    NPA:  Means
the Note Purchase Agreement dated as of July 1, 2009 among the Trustee, the
Company, the Escrow Agent, the Escrow Paying Agent and the Subordination Agent,
providing for, among other things, the purchase of Equipment Notes by the
Trustee on behalf of the Applicable Trust, as the same may be amended,
supplemented or otherwise modified from time to time, in accordance with its
terms.

    

    Other
Agreement:  Means the Basic Agreement as supplemented by a
Trust Supplement relating to the Additional Trust, if any.

    

    Owned
Aircraft:  Has the meaning specified in the recitals
hereto.

    

    Participation
Agreement:  Means each Participation Agreement to be entered
into, or entered into (as the case may be), by the Trustee pursuant to the NPA,
as the same may be amended, supplemented or otherwise modified in accordance
with its terms.

    

    

    
      
        
           

        

        
           

          
            

          

        

        
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    Pool
Balance:  Means, as of any date, (i) the original aggregate
face amount of the Applicable Certificates less (ii) the aggregate amount of all
payments made as of such date in respect of such Applicable Certificates or in
respect of Deposits other than payments made in respect of interest or premium
thereon or reimbursement of any costs or expenses incurred in connection
therewith.  The Pool Balance as of any date shall be computed after
giving effect to any special distribution with respect to unused Deposits,
payment of principal of the Equipment Notes or payment with respect to other
Trust Property and the distribution thereof to be made on that
date.

    

    Pool
Factor:  Means, as of any Distribution Date, the quotient
(rounded to the seventh decimal place) computed by dividing (i) the Pool Balance
by (ii) the original aggregate face amount of the Applicable
Certificates.  The Pool Factor as of any Distribution Date shall be
computed after giving effect to any special distribution with respect to unused
Deposits, payment of principal of the Equipment Notes or payment with respect to
other Trust Property and the distribution thereof to be made on that
date.

    

     Prospectus
Supplement:  Means the final Prospectus Supplement dated June
16, 2009 relating to the offering of the Applicable Certificates.

    

    Ratings
Confirmation:  Has the meaning specified in the Intercreditor
Agreement.

    

    Related Pass Through Trust
Agreement:  Means the Basic Agreement as supplemented by the
Trust Supplement No. 2009-1A-S dated as of the date hereof relating to the
Continental Airlines Pass Through Trust 2009-1A-S and entered into by the
Company and the Related Trustee, which agreement becomes effective upon the
execution and delivery of the Assignment and Assumption Agreement pursuant to
Section 7.01 of this Trust Supplement.

    

    Related
Trust:  Means the Continental Pass Through Trust 2009-1A-S, to
be formed under the Related Pass Through Trust Agreement.

    

    Related
Trustee:  Means the trustee under the Related Pass Through
Trust Agreement.

    

    Scheduled Closing
Date:  Has the meaning specified in the NPA.

    

    Scheduled
Payment:  Means, with respect to any Equipment Note, (i) any
payment of principal or interest on such Equipment Note (other than any such
payment which is not in fact received by the Trustee or the Subordination Agent
within five days of the date on which such payment is scheduled to be made) or
(ii) any payment of interest on the Applicable Certificates with funds drawn
under the Liquidity Facility, which payment in any such case represents the
installment of principal on such Equipment Note at the stated maturity of such
installment, the payment of regularly scheduled interest accrued on the unpaid
principal amount of such Equipment Note, or both; provided, however, that any
payment of principal, premium, if any, or interest

    

    
      
        
           

        

        
           

          
            

          

        

        
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    resulting
from the redemption or purchase of any Equipment Note shall not constitute a
Scheduled Payment.

    

    Special
Payment:  Means any payment (other than a Scheduled Payment) in
respect of, or any proceeds of, any Equipment Note or Collateral (as defined in
each Indenture).

    

    Substitute
Aircraft:  Has the meaning specified in the NPA.

    

    Transfer
Date:  Has the meaning specified in Section 7.01 of this Trust
Supplement.

    

    Triggering
Event:  Has the meaning assigned to such term in the
Intercreditor Agreement.

    

    Trust
Property:  Means (i) subject to the Intercreditor Agreement,
the Equipment Notes held as the property of the Applicable Trust, all monies at
any time paid thereon and all monies due and to become due thereunder, (ii)
funds from time to time deposited in the Certificate Account and the Special
Payments Account and, subject to the Intercreditor Agreement, any proceeds from
the sale by the Trustee pursuant to Article VI of the Basic Agreement of
any Equipment Note and (iii) all rights of the Applicable Trust and the Trustee,
on behalf of the Applicable Trust, under the Intercreditor Agreement, the Escrow
Agreement, the NPA and the Liquidity Facility, including, without limitation,
all rights to receive certain payments thereunder, and all monies paid to the
Trustee on behalf of the Applicable Trust pursuant to the Intercreditor
Agreement or the Liquidity Facility, provided that rights
with respect to the Deposits or under the Escrow Agreement, except for the right
to direct withdrawals for the purchase of Equipment Notes to be held herein,
will not constitute Trust Property.

    

    Trust
Supplement:  Has the meaning specified in the first paragraph
of this trust supplement.

    

    Trustee:  Has
the meaning specified in the first paragraph of this Trust
Supplement.

     

    
      Underwriters:  Means,
collectively, Morgan Stanley & Co. Incorporated, Goldman, Sachs & Co.
and Calyon Securities (USA) Inc.

    

    

    Underwriting
Agreement:  Means the Underwriting Agreement dated June 16,
2009 among the Underwriters, the Company and the Depositary, as the same may be
amended, supplemented or otherwise modified from time to time in accordance with
its terms.

    

    
      
        
           

        

        
           

          
            

          

        

        
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    ARTICLE III

    DISTRIBUTIONS;
STATEMENTS TO CERTIFICATEHOLDERS

     

    Section 3.01.  Statements to Applicable
Certificateholders.  (a)  On
each Distribution Date, the Trustee will include with each distribution to
Applicable Certificateholders of a Scheduled Payment or Special Payment, as the
case may be, a statement setting forth the information provided below (in the
case of a Special Payment, reflecting in part the information provided by the
Escrow Paying Agent under the Escrow Agreement).  Such statement shall
set forth (per $1,000 face amount Applicable Certificate as to (ii), (iii), (iv)
and (v) below) the following information:

    

    (i)           the
aggregate amount of funds distributed on such Distribution Date under the
Agreement and under the Escrow Agreement, indicating the amount allocable to
each source, including any portion thereof paid by the Liquidity
Provider;

    

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

    

    (iii)          the
amount of such distribution under the Agreement allocable to
interest;

    

    (iv)          the
amount of such distribution under the Escrow Agreement allocable to
interest;

    

    (v)           the
amount of such distribution under the Escrow Agreement allocable to unused
Deposits, if any; and

    

    
      (vi)          the Pool
Balance and the Pool Factor.

    

    

    With
respect to the Applicable Certificates registered in the name of a Clearing
Agency or its nominee, on the Record Date prior to each Distribution Date, the
Trustee will request that such Clearing Agency post on its Internet bulletin
board a securities position listing setting forth the names of all Clearing
Agency Participants reflected on such Clearing Agency’s books as holding
interests in the Applicable Certificates on such Record Date.  On each
Distribution Date, the Trustee will mail to each such Clearing Agency
Participant the statement described above and will make available additional
copies as requested by such Clearing Agency Participant for forwarding to
holders of interests in the Applicable Certificates.

    

    (b)           Within
a reasonable period of time after the end of each calendar year but not later
than the latest date permitted by law, the Trustee shall furnish to each Person
who at any time during such calendar year was an Applicable Certificateholder of
record a statement containing the sum of the amounts determined pursuant to
clauses (a)(i), (a)(ii), (a)(iii), (a)(iv) and (a)(v) above for such calendar
year or, in the event such Person was an Applicable Certificateholder of record
during a portion of such calendar year, for such portion of such year, and such
other items as are readily available to the Trustee and which an Applicable
Certificateholder shall reasonably request as necessary for the purpose of such
Applicable

    Certificateholder's
preparation of its U.S. federal income tax returns.  Such statement
and such other items shall be prepared on the basis of information supplied to
the Trustee by the Clearing

    

    
      
        
           

        

        
           

          
            

          

        

        
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    Agency
Participants and shall be delivered by the Trustee to such Clearing Agency
Participants to be available for forwarding by such Clearing Agency Participants
to the holders of interests in the Applicable Certificates in the manner
described in Section 3.01(a) of this Trust Supplement.

    

    (c)           If
the aggregate principal payments scheduled for a Regular Distribution Date prior
to the Delivery Period Termination Date differ from the amount thereof set forth
for the Applicable Certificates on page S-30 of the Prospectus Supplement, by no
later than the 15th day
prior to such Regular Distribution Date, the Trustee shall mail written notice
of the actual amount of such scheduled payments to the Applicable
Certificateholders of record as of a date within 15 Business Days prior to the
date of mailing.

     

    (d)           Promptly
following (i) the Delivery Period Termination Date, if there has been any change
in the information set forth in clauses (y) and (z) below from that set forth in
page S-30 of the Prospectus Supplement, and (ii) the date of any early
redemption of, or any default in the payment of principal or interest in respect
of, any of the Equipment Notes held in the Applicable Trust, or any Final
Withdrawal, the Trustee shall furnish to Applicable Certificateholders of record
on such date a statement setting forth (x) the expected Pool Balances for each
subsequent Regular Distribution Date following the Delivery Period Termination
Date, (y) the related Pool Factors for such Regular Distribution Dates and
(z) the expected principal distribution schedule of the Equipment Notes, in the
aggregate, held as Trust Property at the date of such notice.  With
respect to the Applicable Certificates registered in the name of a Clearing
Agency, on the Delivery Period Termination Date, the Trustee will request from
such Clearing Agency a securities position listing setting forth the names of
all Clearing Agency Participants reflected on such Clearing Agency's books as
holding interests in the Applicable Certificates on such date.  The
Trustee will mail to each such Clearing Agency Participant the statement
described above and will make available additional copies as requested by such
Clearing Agency Participant for forwarding to holders of interests in the
Applicable Certificates.

     

     

    (e)           The
Trustee shall provide promptly to the Applicable Certificateholders all material
non-confidential information received by the Trustee from the
Company.

     

    (f)           This
Section 3.01 supersedes and replaces Section 4.03 of the Basic Agreement, with
respect to the Applicable Trust.

     

    

    Section 3.02.  Special Payments
Account.  (a)  The
Trustee shall establish and maintain on behalf of the Applicable
Certificateholders a Special Payments Account as one or more accounts, which
shall be non-interest bearing except as provided in Section 4.04 of the Basic
Agreement.  The Trustee shall hold the Special Payments Account in
trust for the benefit of the Applicable Certificateholders and shall make or
permit withdrawals therefrom only as provided in the Agreement.  On
each day when one or more Special Payments are made to the Trustee under the
Intercreditor Agreement, the Trustee, upon receipt thereof, shall immediately
deposit the aggregate amount of such Special Payments in the Special Payments
Account.

     

    (b)  This
Section 3.02 supersedes and replaces Section 4.01(b) of the Basic Agreement in
its entirety, with respect to the Applicable Trust.

    

    
      
        
           

        

        
           

          
            

          

        

        
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    Section 3.03.  Distributions from Special
Payments Account.  (a)  On each Special Distribution
Date with respect to any Special Payment or as soon thereafter as the Trustee
has confirmed receipt of any Special Payments due on the Equipment Notes held
(subject to the Intercreditor Agreement) in the Applicable Trust or realized
upon the sale of such Equipment Notes, the Trustee shall distribute out of the
Special Payments Account the entire amount of such Special Payment deposited
therein pursuant to Section 3.02(a) of this Trust Supplement.  There
shall be so distributed to each Applicable Certificateholder of record on the
Record Date with respect to such Special Distribution Date (other than as
provided in Section 7.01 of this Trust Supplement concerning the final
distribution) by check mailed to such Applicable Certificateholder, at the
address appearing in the Register, such Applicable Certificateholder's pro rata share (based on the
Fractional Undivided Interest in the Applicable Trust held by such Applicable
Certificateholder) of the total amount in the Special Payments Account on
account of such Special Payment, except that, with respect to Applicable
Certificates registered on the Record Date in the name of a Clearing Agency (or
its nominee), such distribution shall be made by wire transfer in immediately
available funds to the account designated by such Clearing Agency (or such
nominee).

     

    (b)           The
Trustee shall, at the expense of the Company, cause notice of each Special
Payment to be mailed to each Applicable Certificateholder at his address as it
appears in the Register.  In the event of redemption or purchase of
Equipment Notes held in the Applicable Trust, such notice shall be mailed not
less than 15 days prior to the Special Distribution Date for the Special Payment
resulting from such redemption or purchase, which Special Distribution Date
shall be the date of such redemption or purchase.  In the case of any
Special Payments, such notice shall be mailed as soon as practicable after the
Trustee has confirmed that it has received funds for such Special Payment,
stating the Special Distribution Date for such Special Payment which shall occur
not less than 15 days after the date of such notice and as soon as practicable
thereafter.  Notices with respect to a Special Payment mailed by the
Trustee shall set forth:

     

    (i)           the
Special Distribution Date and the Record Date therefor (except as otherwise
provided in Section 7.01 of this Trust Supplement),

     

    (ii)           the
amount of the Special Payment for each $1,000 face amount Applicable Certificate
and the amount thereof constituting principal, premium, if any, and
interest,

     

    (iii)           the
reason for the Special Payment, and

     

    (iv)           if
the Special Distribution Date is the same date as a Regular Distribution Date,
the total amount to be received on such date for each $1,000 face amount
Applicable Certificate.

     

    If the
amount of premium, if any, payable upon the redemption or purchase of an
Equipment Note has not been calculated at the time that the Trustee mails notice
of a Special Payment, it shall be sufficient if the notice sets forth the other
amounts to be distributed and states that any premium received will also be
distributed.

    

    
      
        
           

        

        
           

          
            

          

        

        
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    If any
redemption of the Equipment Notes held in the Trust is canceled, the Trustee, as
soon as possible after learning thereof, shall cause notice thereof to be mailed
to each Applicable Certificateholder at its address as it appears on the
Register.

     

    (b)  This
Section 3.03 supersedes and replaces Section 4.02(b) and Section 4.02(c) of the
Basic Agreement in their entirety, with respect to the Applicable
Trust.

    

    Section 3.04.  Limitation of Liability for
Payments.  Section
3.09 of the Basic Agreement shall be amended, with respect to the Applicable
Trust, by deleting the phrase “the Owner Trustees or the Owner Participants” in
the second sentence thereof and adding in lieu thereof “the Liquidity
Provider”.

     

    ARTICLE IV

    DEFAULT

     

    Section 4.01.  Purchase Rights of
Certificateholders.  (a)
By acceptance of its Applicable Certificate, each Applicable Certificateholder
agrees that at any time after the occurrence and during the continuation of a
Certificate Buyout Event, if any Additional Certificates are issued pursuant to
the Additional Trust, each Additional Certificateholder (other than the Company
or any of its Affiliates), shall have the right to purchase all, but not less
than all, of the Applicable Certificates upon 15 days’ written notice to the
Trustee and each other Additional Certificateholder, on the third Business Day
next following the expiry of such 15-day notice period, provided that (A) if
prior to the end of such 15-day period any other Additional Certificateholder
(other than the Company or any of its Affiliates) notifies such purchasing
Additional Certificateholder that such other Additional Certificateholder wants
to participate in such purchase, then such other Additional Certificateholder
(other than the Company or any of its Affiliates) may join with the purchasing
Additional Certificateholder to purchase all, but not less than all, of the
Applicable Certificates pro rata based on the Fractional Undivided Interest in
the Additional Trust held by each such Additional Certificateholder and (B) if
prior to the end of such 15-day period any other Additional Certificateholder
fails to notify the purchasing Additional Certificateholder of such other
Additional Certificateholder's desire to participate in such a purchase, then
such other Additional Certificateholder shall lose its right to purchase the
Applicable Certificates pursuant to this Section 4.01(a).

    

    The
purchase price with respect to the Applicable Certificates shall be equal to the
Pool Balance of the Applicable Certificates, together with accrued and unpaid
interest thereon to the date of such purchase, without premium, but including
any other amounts then due and payable to the Applicable Certificateholders
under the Agreement, the Intercreditor Agreement, the Escrow Agreement or any
Note Document or on or in respect of the Applicable Certificates; provided, however, that no such
purchase of Applicable Certificates shall be effective unless the purchaser(s)
shall certify to the Trustee that contemporaneously with such purchase, such
purchaser(s) is (are) purchasing all of the Applicable Certificates pursuant to
the terms of the Agreement and the Other Agreement.  Each payment of
the purchase price of the Applicable Certificates referred to in the first
sentence hereof shall be made to an account or accounts designated by the
Trustee and each such purchase shall be subject to the terms of this Section
4.01.  Each Applicable Certificateholder agrees by its acceptance of
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    that (at
any time after the occurrence of a Certificate Buyout Event) it will, upon
payment from such Additional Certificateholder(s) of the purchase price set
forth in the first sentence of this paragraph, (i) forthwith sell, assign,
transfer and convey to the purchaser(s) thereof (without recourse,
representation or warranty of any kind except for its own acts), all of the
right, title, interest and obligation of such Applicable Certificateholder in
the Agreement, the Escrow Agreement, the Deposit Agreement, the Intercreditor
Agreement, the Liquidity Facility, the NPA, the Note Documents and all
Applicable Certificates and Escrow Receipts held by such Applicable
Certificateholder (excluding all right, title and interest under any of the
foregoing to the extent such right, title or interest is with respect to an
obligation not then due and payable as respects any action or inaction or state
of affairs occurring prior to such sale) (and the purchaser shall assume all of
such Applicable Certificateholder's obligations under the Agreement, the Escrow
Agreement, the Deposit Agreement, the Intercreditor Agreement, the Liquidity
Facility, the NPA, the Note Documents and all such Applicable Certificates and
Escrow Receipts), (ii) if such purchase occurs after a record date
specified in Section 2.03 of the Escrow Agreement relating to the
distribution of unused Deposits and/or accrued and unpaid interest on Deposits
and prior to or on the related distribution date thereunder, forthwith turn over
to the purchaser(s) of its Applicable Certificate all amounts, if any, received
by it on account of such distribution, and (iii) if such purchase occurs
after a Record Date relating to any distribution and prior to or on the related
Distribution Date, forthwith turn over to the purchaser(s) of its Applicable
Certificate all amounts, if any, received by it on account of such
distribution.  The Applicable Certificates will be deemed to be
purchased on the date payment of the purchase price is made notwithstanding the
failure of the Applicable Certificateholders to deliver any Applicable
Certificates and, upon such a purchase, (I) the only rights of the Applicable
Certificateholders will be to deliver the Applicable Certificates to the
purchaser(s) and receive the purchase price for such Applicable Certificates and
(II) if the purchaser(s) shall so request, such Applicable Certificateholder
will comply with all the provisions of Section 3.04 of the Basic Agreement to
enable new Applicable Certificates to be issued to the purchaser in such
denominations as it shall request.  All charges and expenses in
connection with the issuance of any such new Applicable Certificates shall be
borne by the purchaser thereof.

    

    As used
in this Section 4.01 and elsewhere in this Trust Supplement, the terms
“Additional Certificate”, “Additional Certificateholder”, “Additional Equipment
Notes” and “Additional Trust” shall have the respective meanings assigned to
such terms in the Intercreditor Agreement.

    

    (b)           This
Section 4.01 supersedes and replaces Section 6.01(b) of the Basic Agreement,
with respect to the Applicable Trust.

    

    Section 4.02.  Amendment of Section 6.05 of
the Basic Agreement.  Section
6.05 of the Basic Agreement shall be amended, with respect to the Applicable
Trust, by deleting the phrase “and thereby annul any Direction given by such
Certificateholders or the Trustee to such Loan Trustee with respect thereto,”
set forth in the first sentence thereof.

    

    
      
        
           

        

        
           

          
            

          

        

        
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    ARTICLE V

    THE
TRUSTEE

     

    Section 5.01.  Delivery of Documents;
Delivery Dates.  (a)  The
Trustee is hereby directed (i) to execute and deliver the Intercreditor
Agreement, the Escrow Agreement and the NPA on or prior to the Issuance Date,
each in the form delivered to the Trustee by the Company, and (ii) subject to
the respective terms thereof, to perform its obligations
thereunder.  Upon request of the Company and the satisfaction or
waiver of the closing conditions specified in the Underwriting Agreement, the
Trustee shall execute, deliver, authenticate, issue and sell Applicable
Certificates in authorized denominations equaling in the aggregate the amount
set forth, with respect to the Applicable Trust, in Schedule I to the
Underwriting Agreement evidencing the entire ownership interest in the
Applicable Trust, which amount equals the maximum aggregate principal amount of
Equipment Notes which may be purchased by the Trustee pursuant to the
NPA.  Except as provided in Sections 3.03, 3.04, 3.05 and 3.06 of the
Basic Agreement, the Trustee shall not execute, authenticate or deliver
Applicable Certificates in excess of the aggregate amount specified in this
paragraph.  The provisions of this Section 5.01(a) supersede and
replace the first sentence of Section 3.02(a) of the Basic Agreement, with
respect to the Applicable Trust.

    

    (b)           After
the Issuance Date, the Company may deliver from time to time to the Trustee a
Closing Notice relating to one or more Equipment Notes.  After receipt
of a Closing Notice and in any case no later than one Business Day prior to a
Scheduled Closing Date as to which such Closing Notice relates (the “Applicable Closing
Date”), the Trustee shall (as and when specified in the Closing Notice)
instruct the Escrow Agent to provide a Notice of Purchase Withdrawal to the
Depositary requesting (A) the withdrawal of one or more Deposits on the
Applicable Closing Date in accordance with and to the extent permitted by the
terms of the Escrow Agreement and the Deposit Agreement and (B) the payment of
all, or a portion, of such Deposit or Deposits in an amount equal in the
aggregate to the purchase price of such Equipment Notes to or on behalf of the
Company, all as shall be described in the Closing Notice.  The Trustee
shall (as and when specified in such Closing Notice), subject to the conditions
set forth in Section 2 of the NPA, enter into and perform its obligations under
the Participation Agreement specified in such Closing Notice (the “Applicable Participation
Agreement”) and cause such certificates, documents and legal opinions
relating to the Trustee to be duly delivered as required by the Applicable
Participation Agreement.  If at any time prior to the Applicable
Closing Date, the Trustee receives a notice of postponement pursuant to Section
1(e) or 1(f) of the NPA, then the Trustee shall give the Depositary (with a copy
to the Escrow Agent) a notice of cancellation of such Notice of Purchase
Withdrawal relating to such Deposit or Deposits on such Applicable Closing
Date.  Upon satisfaction of the conditions specified in the NPA and
the Applicable Participation Agreement, the Trustee shall purchase the
applicable Equipment Notes with the proceeds of the withdrawals of one or more
Deposits made on the Applicable Closing Date in accordance with the terms of the
Deposit Agreement and the Escrow Agreement.  The purchase price of
such Equipment Notes shall equal the principal amount of such Equipment
Notes.  Amounts withdrawn from such Deposit or Deposits in excess of
the purchase price of the Equipment Notes or to the extent not applied on the
Applicable Closing Date to the purchase price of the Equipment Notes, shall be
re-deposited by the Trustee with the Depositary on the Applicable Closing Date
in accordance with the terms of the Deposit Agreement.  The provisions
of this Section 5.01(b) supersede and replace the provisions of Section 2.02 of
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    Agreement
with respect to the Applicable Trust, and all provisions of the Basic Agreement
relating to Postponed Notes and Section 2.02 of the Basic Agreement shall not
apply to the Applicable Trust.

    

    (c)  The
Trustee acknowledges its acceptance of all right, title and interest in and to
the Trust Property to be acquired pursuant to Section 5.01(b) of this Trust
Supplement, the NPA and each Applicable Participation Agreement, and declares
that it holds and will hold such right, title and interest for the benefit of
all present and future Applicable Certificateholders, upon the trusts set forth
in the Agreement.  By its acceptance of an Applicable Certificate,
each initial Applicable Certificateholder, as a grantor of the Applicable Trust,
joins with the Trustee in the creation of the Applicable Trust.  The
provisions of this Section 5.01(c) supersede and replace the provisions of
Section 2.03 of the Basic Agreement, with respect to the Applicable
Trust.

    

    Section 5.02.  Withdrawal of
Deposits.  If
any Deposits remain outstanding on the Business Day next succeeding the Cut-off
Date, the Trustee shall promptly give the Escrow Agent notice that the Trustee's
obligation to purchase Equipment Notes under the NPA has terminated and instruct
the Escrow Agent to provide a notice of Final Withdrawal to the Depositary
substantially in the form of Exhibit B to the Deposit Agreement (the “Final Withdrawal
Notice”).

    

    Section 5.03.  The
Trustee.  (a)  Subject
to Section 5.04 of this Trust Supplement and Section 7.15 of the Basic
Agreement, the Trustee shall not be responsible in any manner whatsoever for or
in respect of the validity or sufficiency of this Trust Supplement, the Deposit
Agreement, the NPA or the Escrow Agreement or the due execution hereof or
thereof by the Company or the other parties thereto (other than the Trustee), or
for or in respect of the recitals and statements contained herein or therein,
all of which recitals and statements are made solely by the Company, except that
the Trustee hereby represents and warrants that each of this Trust Supplement,
the Basic Agreement, each Applicable Certificate, the Intercreditor Agreement,
the NPA and the Escrow Agreement has been executed and delivered by one of its
officers who is duly authorized to execute and deliver such document on its
behalf.

    

    (b)           Except
as herein otherwise provided and except during the continuation of an Event of
Default in respect of the Applicable Trust created hereby, no duties,
responsibilities or liabilities are assumed, or shall be construed to be
assumed, by the Trustee by reason of this Trust Supplement other than as set
forth in the Agreement, and this Trust Supplement is executed and accepted on
behalf of the Trustee, subject to all the terms and conditions set forth in the
Agreement, as fully to all intents as if the same were herein set forth at
length.

    

    Section 5.04.  Representations and
Warranties of the Trustee.  The
Trustee hereby represents and warrants that:

    

    (a)           the
Trustee has full power, authority and legal right to execute, deliver and
perform this Trust Supplement, the Intercreditor Agreement, the Escrow
Agreement, the NPA and the Note Documents to which it is or is to become a party
and has taken all necessary action to authorize the execution, delivery and
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    Supplement,
the Intercreditor Agreement, the Escrow Agreement, the NPA and the Note
Documents to which it is or is to become a party;

    

    (b)           the
execution, delivery and performance by the Trustee of this Trust Supplement, the
Intercreditor Agreement, the Escrow Agreement, the NPA and the Note Documents to
which it is or is to become a party (i) will not violate any provision of
any United States federal law or the law of the state of the United States where
it is located governing the banking and trust powers of the Trustee or any
order, writ, judgment, or decree of any court, arbitrator or governmental
authority applicable to the Trustee or any of its assets, (ii) will not
violate any provision of the articles of association or by-laws of the Trustee,
and (iii) will not violate any provision of, or constitute, with or without
notice or lapse of time, a default under, or result in the creation or
imposition of any lien on any properties included in the Trust Property pursuant
to the provisions of any mortgage, indenture, contract, agreement or other
undertaking to which it is a party, which violation, default or lien could
reasonably be expected to have an adverse effect on the Trustee's performance or
ability to perform its duties hereunder or thereunder or on the transactions
contemplated herein or therein;

    

    (c)           the
execution, delivery and performance by the Trustee of this Trust Supplement, the
Intercreditor Agreement, the Escrow Agreement, the NPA and the Note Documents to
which it is or is to become a party will not require the authorization, consent,
or approval of, the giving of notice to, the filing or registration with, or the
taking of any other action in respect of, any governmental authority or agency
of the United States or the state of the United States where it is located
regulating the banking and corporate trust activities of the Trustee;
and

    

    (d)           this
Trust Supplement, the Intercreditor Agreement, the Escrow Agreement, the NPA and
the Note Documents to which it is or is to become a party have been, or will be,
as applicable, duly executed and delivered by the Trustee and constitute, or
will constitute, as applicable, the legal, valid and binding agreements of the
Trustee, enforceable against it in accordance with their respective terms; provided, however, that
enforceability may be limited by (i) applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the rights of creditors
generally and (ii) general principles of equity.

    

    Section 5.05.  Trustee
Liens.  The
Trustee in its individual capacity agrees, in addition to the agreements
contained in Section 7.17 of the Basic Agreement, that it will at its own cost
and expense promptly take any action as may be necessary to duly discharge and
satisfy in full any Trustee's Liens on or with respect to the Trust Property
which is attributable to the Trustee in its individual capacity and which is
unrelated to the transactions contemplated by the Intercreditor Agreement or the
NPA.

    

    
      
        
           

        

        
           

          
            

          

        

        
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    ARTICLE VI

    ADDITIONAL
AMENDMENT; SUPPLEMENTAL AGREEMENTS

     

    Section 6.01.  Amendment of Section 5.02 of
the Basic Agreement.  Section
5.02 of the Basic Agreement shall be amended, with respect to the Applicable
Trust, by (i) replacing the phrase “of the Note Documents and of this Agreement”
set forth in paragraph (b) thereof with the phrase “of the Note Documents, of
the NPA and of this Agreement” and (ii) replacing the phrase “of this Agreement
and any Note Document” set forth in the last paragraph of Section 5.02 with
the phrase “of this Agreement, the NPA and any Note Document”.

    

    Section 6.02.  Supplemental Agreements
Without Consent of Applicable Certificateholders.  Without
limitation of Section 9.01 of the Basic Agreement, under the terms of, and
subject to the limitations contained in, Section 9.01 of the Basic Agreement,
the Company may (but will not be required to), and the Trustee (subject to
Section 9.03 of the Basic Agreement) shall, at the Company's request, at any
time and from time to time, (i) enter into one or more agreements supplemental
to the Escrow Agreement, the NPA or the Deposit Agreement, for any of the
purposes set forth in clauses (1) through (9) of such Section 9.01, and (without
limitation of the foregoing or Section 9.01 of the Basic Agreement) (a) clauses
(2) and (3) of such Section 9.01 shall also be deemed to include the Company's
obligations under (in the case of clause (2)), and the Company's rights and
powers conferred by (in the case of clause (3)), the NPA, and
(b) references in clauses (4), (6) and (7) of such Section 9.01 to “any
Intercreditor Agreement or any Liquidity Facility” shall also be deemed to refer
to “the Intercreditor Agreement, the Liquidity Facility, the Escrow Agreement,
the NPA or the Deposit Agreement” and (ii) enter into one or more agreements
supplemental to the Agreement, the Intercreditor Agreement or the NPA to provide
for the formation of a single Additional Trust, the issuance of Additional
Certificates, the purchase by the Additional Trust (if any) of applicable
Additional Equipment Notes and other matters incidental thereto or otherwise
contemplated by Section 2.01(b) of the Basic Agreement, subject to the
provisions of Section 4(a)(vi) of the NPA and Section 9.1 of the Intercreditor
Agreement.

    

    Section 6.03.  Supplemental Agreements with
Consent of Applicable Certificateholders.  Without
limitation of Section 9.02 of the Basic Agreement, the provisions of Section
9.02 of the Basic Agreement shall apply to agreements or amendments for the
purpose of adding any provisions to or changing in any manner or eliminating any
of the provisions of the Escrow Agreement, the Deposit Agreement, the Liquidity
Facility or the NPA or modifying in any manner the rights and obligations of the
Applicable Certificateholders under the Escrow Agreement, the Deposit Agreement,
the Liquidity Facility or the NPA; provided that the
provisions of Section 9.02(1) of the Basic Agreement shall be deemed to include
reductions in any manner of, or delay in the timing of, any receipt by the
Applicable Certificateholders of payments upon the Deposits.

    

    Section 6.04.  Consent of Holders of
Certificates Issued under Additional
Trust.  Notwithstanding
any provision in Section 6.02 or Section 6.03 of this Trust Supplement to the
contrary, no amendment or modification of Section 4.01 of this Trust Supplement
shall be effective unless the trustee for the Additional Trust, if any, affected
by such amendment or modification shall have consented thereto.

    

    
      
        
           

        

        
           

          
            

          

        

        
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    ARTICLE VII

    TERMINATION
OF TRUST

     

    Section 7.01.  Termination of the
Applicable Trust.  (a)  The
respective obligations and responsibilities of the Company and the Trustee with
respect to the Applicable Trust shall terminate upon the earlier of (A) the
completion of the assignment, transfer and discharge described in the first
sentence of the immediately following paragraph and (B) distribution to all
Applicable Certificateholders and the Trustee of all amounts required to be
distributed to them pursuant to the Agreement and the disposition of all
property held as part of the Trust Property; provided, however, that in no
event shall the Applicable Trust continue beyond one hundred ten (110) years
following the date of the execution of this Trust Supplement.

    

    Upon the
earlier of (i) the first Business Day following December 31, 2009 and (ii) the
fifth Business Day following the date on which a Triggering Event occurs (such
date, the “Transfer
Date”), or, if later, the date on which all of the conditions set forth
in the immediately following sentence have been satisfied, the Trustee is hereby
directed (subject only to the immediately following sentence) to, and the
Company shall direct the institution that will serve as the Related Trustee
under the Related Pass Through Trust Agreement to, execute and deliver the
Assignment and Assumption Agreement, pursuant to which the Trustee shall assign,
transfer and deliver all of the Trustee's right, title and interest to the Trust
Property to the Related Trustee under the Related Pass Through Trust
Agreement.  The Trustee and the Related Trustee shall execute and
deliver the Assignment and Assumption Agreement upon the satisfaction of the
following conditions:

    

    (i)           The
Trustee, the Related Trustee and each of the Rating Agencies then rating the
Applicable Certificates shall have received an Officer's Certificate and an
Opinion of Counsel dated the date of the Assignment and Assumption Agreement and
each satisfying the requirements of Section 1.02 of the Basic Agreement, which
Opinion of Counsel shall be substantially to the effect set forth below and may
be relied upon by the Beneficiaries (as defined in the Assignment and Assumption
Agreement):

    

    (I)           Upon
the execution and delivery thereof by the parties thereto in accordance with the
terms of the Agreement and the Related Pass Through Trust Agreement, the
Assignment and Assumption Agreement will constitute the valid and binding
obligation of each of the parties thereto enforceable against each such party in
accordance with its terms;

    

    (II)           Upon
the execution and delivery of the Assignment and Assumption Agreement in
accordance with the terms of the Agreement and the Related Pass Through Trust
Agreement, each of the Applicable Certificates then Outstanding will be entitled
to the benefits of the Related Pass Through Trust Agreement;

    

    (III)           The
Related Trust is not required to be registered as an investment company under
the Investment Company Act of 1940, as amended;

    

    

    
      
        
           

        

        
           

          
            

          

        

        
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    (IV)           The
Related Pass Through Trust Agreement constitutes the valid and binding
obligation of the Company enforceable against the Company in accordance with its
terms; and

    

    (V)           Neither
the execution and delivery of the Assignment and Assumption Agreement in
accordance with the terms of the Agreement and the Related Pass Through Trust
Agreement, nor the consummation by the parties thereto of the transactions
contemplated to be consummated thereunder on the date thereof, will violate any
law or governmental rule or regulation of the State of New York or the United
States of America known to such counsel to be applicable to the transactions
contemplated by the Assignment and Assumption Agreement.

    

    (ii)           The
Trustee and the Company shall have received (x) a copy of the articles of
incorporation and bylaws of the Related Trustee certified as of the Transfer
Date by the Secretary or Assistant Secretary of such institution and (y) a copy
of the filing (including all attachments thereto) made by the institution
serving as the Related Trustee with the Office of the Superintendent, State of
New York Banking Department for the qualification of the Related Trustee under
Section 131(3) of the New York Banking Law.

    

    Upon the
execution of the Assignment and Assumption Agreement by the parties thereto, the
Applicable Trust shall be terminated, the Applicable Certificateholders shall
receive beneficial interests in the Related Trust in exchange for their
interests in the Applicable Trust equal to their respective beneficial interests
in the Applicable Trust, and the Outstanding Applicable Certificates
representing Fractional Undivided Interests in the Applicable Trust shall be
deemed for all purposes of the Agreement and the Related Pass Through Trust
Agreement, without further signature or action of any party or Applicable
Certificateholder, to be certificates representing the same fractional undivided
interests in the Related Trust and its trust property.  By acceptance
of its Applicable Certificate, each Applicable Certificateholder consents to
such assignment, transfer and delivery of the Trust Property to the trustee of
the Related Trust upon the execution and delivery of the Assignment and
Assumption Agreement.

    

    In
connection with the occurrence of the event set forth in clause (B) above of the
first paragraph of this Section 7.01, notice of such termination, specifying the
Distribution Date upon which the Applicable Certificateholders may surrender
their Applicable Certificates to the Trustee for payment of the final
distribution and cancellation, shall be mailed promptly by the Trustee to
Applicable Certificateholders not earlier than the 60th day and
not later than the 15th day
next preceding such final Distribution Date specifying (A) the Distribution Date
upon which the proposed final payment of the Applicable Certificates will be
made upon presentation and surrender of Applicable Certificates at the office or
agency of the Trustee therein specified, (B) the amount of any such proposed
final payment, and (C) that the Record Date otherwise applicable to such
Distribution Date is not applicable, payments being made only upon presentation
and surrender of the Applicable Certificates at the office or agency of the
Trustee therein specified.  The Trustee shall give such notice to the
Registrar at the time such notice is given to Applicable
Certificateholders.  Upon presentation and surrender of the
Applicable

    

    
      
        
           

        

        
           

          
            

          

        

        
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    Certificates
in accordance with such notice, the Trustee shall cause to be distributed to
Applicable Certificateholders such final payments.

    

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

    

    (b)  The
provisions of this Section 7.01 supersede and replace the provisions of Section
11.01 of the Basic Agreement in its entirety, with respect to the Applicable
Trust.

     

    ARTICLE VIII

    MISCELLANEOUS
PROVISIONS

     

    Section 8.01.  Basic Agreement
Ratified.  Except
and so far as herein expressly provided, all of the provisions, terms and
conditions of the Basic Agreement are in all respects ratified and confirmed;
and the Basic Agreement and this Trust Supplement shall be taken, read and
construed as one and the same instrument.  All replacements of
provisions of, and other modifications of the Basic Agreement set forth in this
Trust Supplement are solely with respect to the Applicable Trust.

    

    Section 8.02.  GOVERNING
LAW.  THE AGREEMENT AND, UNTIL THE TRANSFER
DATE, THE APPLICABLE CERTIFICATES SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE.  THIS SECTION 8.02
SUPERSEDES AND REPLACES SECTION 12.05 OF THE BASIC AGREEMENT, WITH RESPECT TO THE APPLICABLE
TRUST.

    

    Section 8.03.  Execution in
Counterparts.  This
Trust Supplement may be executed in any number of counterparts, each of which
shall be an original, but such counterparts shall together constitute but one
and the same instrument.

    

    Section 8.04.  Intention of
Parties.  The
parties hereto intend that the Applicable Trust be classified for U.S. federal
income tax purposes as a grantor trust under Subpart E, Part I of Subchapter J
of the Internal Revenue Code of 1986, as amended, and not as a trust or
association taxable as a corporation or as a partnership.  Each
Applicable Certificateholder and Investor, by its acceptance of its Applicable
Certificate or a beneficial interest therein, agrees to treat the Applicable
Trust as a grantor trust for all U.S. federal, state and local income
tax

    

    
      
        
           

        

        
           

          
            

          

        

        
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    purposes.  The
powers granted and obligations undertaken pursuant to the Agreement shall be so
construed so as to further such intent.

    

    
      
        
           

        

        
           

          
            

          

        

        
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    IN
WITNESS WHEREOF, the Company and the Trustee have caused this Trust Supplement
to be duly executed by their respective officers thereto duly authorized, as of
the day and year first written above.

     

    
      
        	 	CONTINENTAL
      AIRLINES, INC.	 
	 	 	 	 
	
                 

              	
                By:
      

              	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 

      

       

    

    

     

    
       

      
        
          	 	
                  WILMINGTON
      TRUST COMPANY,

                  as Trustee

                	 
	 	 	 	 
	
                   

                	
                  By:
      

                	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 

        

         

      

    

    

    
      
        
           

        

        
           

          
            

          

        

        
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    EXHIBIT
A

    

    

    FORM OF
CERTIFICATE

    

    Certificate

    No.       

    

    [Unless
this certificate is presented by an authorized representative of The Depository
Trust Company, a New York corporation (“DTC”), to Issuer or
its agent for registration of transfer, exchange or payment, and any certificate
issued is registered in the name of Cede & Co. or in such other name as is
requested by an authorized representative of DTC (and any payment is made to
Cede & Co. or to such other entity as is requested by an authorized
representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch the registered owner hereof,
Cede & Co., has an interest herein.]*

    

    

    

    CONTINENTAL
AIRLINES PASS THROUGH TRUST 2009-1A-O

    

    Continental
Airlines Pass Through Certificate, Series 2009-1A-O

    Issuance
Date:  July 1, 2009

    

    Final
Maturity Date:  January 8, 2018

    

    Evidencing
A Fractional Undivided Interest In The Continental Airlines Pass Through Trust
2009-1A-O, The Property Of Which Shall Include Certain Equipment Notes Each
Secured By An Aircraft Owned By Continental Airlines, Inc.

    

    

    $[_____________]
Fractional Undivided Interest

    representing
0.0002566162% of the Trust per $1,000 face amount

    

    THIS
CERTIFIES THAT __________, for value received, is the registered owner of a
$___________ (___________________________________________________ DOLLARS)
Fractional Undivided Interest in the Continental Airlines Pass Through Trust
2009-1A-O (the “Trust”) created by
Wilmington Trust Company, as trustee (the “Trustee”), pursuant
to a Pass Through Trust Agreement, dated as of September 25, 1997 (the “Basic Agreement”),
between the Trustee and Continental Airlines, Inc., a Delaware corporation (the
“Company”),
as

    

    

    ____________________

    *           This
legend to appear on Book-Entry Certificates to be deposited with the Depository
Trust Company.

    

    
      
        
           

        

        
           

          
            

          

        

        
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    supplemented
by Trust Supplement No. 2009-1A-O thereto, dated as of July 1, 2009 (the
“Trust
Supplement” and, together with the Basic Agreement, the “Agreement”), between
the Trustee and the Company, a summary of certain of the pertinent
provisions of which is set forth below.  To the extent not otherwise
defined herein, the capitalized terms used herein have the meanings assigned to
them in the Agreement.  This Certificate is one of the duly authorized
Certificates designated as “Continental Airlines Pass Through Certificates,
Series 2009-1A-O” (herein called the “Certificates”).  This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement.  By virtue of its acceptance hereof, the
holder of this Certificate (the “Certificateholder”
and, together with all other holders of Certificates issued by the Trust, the
“Certificateholders”)
assents to and agrees to be bound by the provisions of the Agreement and the
Intercreditor Agreement.  The property of the Trust includes certain
Equipment Notes and all rights of the Trust to receive payments under the
Intercreditor Agreement and the Liquidity Facility (the “Trust
Property”).  Each issue of the Equipment Notes is secured by,
among other things, a security interest in an Aircraft owned by the
Company.

    

    The
Certificates represent Fractional Undivided Interests in the Trust and the Trust
Property and have no rights, benefits or interest in respect of any other
separate trust established pursuant to the terms of the Basic Agreement for any
other series of certificates issued pursuant thereto.

    

    Subject
to and in accordance with the terms of the Agreement and the Intercreditor
Agreement, from funds then available to the Trustee, there will be distributed
on January 8 and July 8 of each year (a “Regular Distribution
Date”) commencing January 8, 2010, to the Person in whose name this
Certificate is registered at the close of business on the 15th day preceding the
Regular Distribution Date, an amount in respect of the Scheduled Payments on the
Equipment Notes due on such Regular Distribution Date, the receipt of which has
been confirmed by the Trustee, equal to the product of the percentage interest
in the Trust evidenced by this Certificate and an amount equal to the sum of
such Scheduled Payments.  Subject to and in accordance with the terms
of the Agreement and the Intercreditor Agreement, in the event that Special
Payments on the Equipment Notes are received by the Trustee, from funds then
available to the Trustee, there shall be distributed on the applicable Special
Distribution Date, to the Person in whose name this Certificate is registered at
the close of business on the 15th day preceding the Special Distribution
Date, an amount in respect of such Special Payments on the Equipment Notes, the
receipt of which has been confirmed by the Trustee, equal to the product of the
percentage interest in the Trust evidenced by this Certificate and an amount
equal to the sum of such Special Payments so received.  If a Regular
Distribution Date or Special Distribution Date is not a Business Day,
distribution shall be made on the immediately following Business Day with the
same force and effect as if made on such Regular Distribution Date or Special
Distribution Date and interest shall accrue during the intervening
period.  The Trustee shall mail notice of each Special Payment and the
Special Distribution Date therefor to the Certificateholder of this
Certificate.

    

    Distributions
on this Certificate will be made by the Trustee by check mailed to the Person
entitled thereto, without presentation or surrender of this Certificate or the
making of any notation hereon, except that with respect to Certificates
registered on the Record Date in the name of a Clearing Agency (or its nominee),
such distribution shall be made by wire transfer.

    

    
      
        
           

        

        
           

          
            

          

        

        
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    Except as
otherwise provided in the Agreement and notwithstanding the above, the final
distribution on this Certificate will be made after notice mailed by the Trustee
of the pendency of such distribution and only upon presentation and surrender of
this Certificate at the office or agency of the Trustee specified in such
notice.

    

    The
Certificates do not represent a direct obligation of, or an obligation
guaranteed by, or an interest in, the Company or the Trustee or any affiliate
thereof.  The Certificates are limited in right of payment, all as
more specifically set forth on the face hereof and in the
Agreement.  All payments or distributions made to Certificateholders
under the Agreement shall be made only from the Trust Property and only to the
extent that the Trustee shall have sufficient income or proceeds from the Trust
Property to make such payments in accordance with the terms of the
Agreement.  Each Certificateholder of this Certificate, by its
acceptance hereof, agrees that it will look solely to the income and proceeds
from the Trust Property to the extent available for distribution to such
Certificateholder as provided in the Agreement.  This Certificate does
not purport to summarize the Agreement and reference is made to the Agreement
for information with respect to the interests, rights, benefits, obligations,
privileges, and duties evidenced hereby.  A copy of the Agreement may
be examined during normal business hours at the principal office of the Trustee,
and at such other places, if any, designated by the Trustee, by any
Certificateholder upon request.

    

    The
Agreement permits, with certain exceptions therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and
the rights of the Certificateholders under the Agreement at any time by the
Company and the Trustee with the consent of the Certificateholders holding
Certificates evidencing Fractional Undivided Interests aggregating not less than
a majority in interest in the Trust.  Any such consent by the
Certificateholder of this Certificate shall be conclusive and binding on such
Certificateholder and upon all future Certificateholders of this Certificate and
of any Certificate issued upon the transfer hereof or in exchange hereof or in
lieu hereof whether or not notation of such consent is made upon this
Certificate.  The Agreement also permits the amendment thereof, in
certain limited circumstances, without the consent of the Certificateholders of
any of the Certificates.

    

    As
provided in the Agreement and subject to certain limitations set forth therein,
the transfer of this Certificate is registrable in the Register upon surrender
of this Certificate for registration of transfer at the offices or agencies
maintained by the Trustee in its capacity as Registrar, or by any successor
Registrar, duly endorsed or accompanied by a written instrument of transfer in
form satisfactory to the Trustee and the Registrar, duly executed by the
Certificateholder hereof or such Certificateholder's attorney duly authorized in
writing, and thereupon one or more new Certificates of authorized denominations
evidencing the same aggregate Fractional Undivided Interest in the Trust will be
issued to the designated transferee or transferees.

    

    Under
certain circumstances set forth in Section 7.01 of the Trust Supplement, all of
the Trustee's right, title and interest to the Trust Property may be assigned,
transferred and delivered to the Related Trustee of the Related Trust pursuant
to the Assignment and Assumption Agreement.  Upon the effectiveness of
such Assignment and Assumption Agreement (the “Transfer”), the Trust
shall be terminated, the Certificateholders shall receive beneficial
interests

    

    
      
        
           

        

        
           

          
            

          

        

        
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    in the
Related Trust in exchange for their interests in the Trust equal to their
respective beneficial interests in the Trust, the Certificates representing
Fractional Undivided Interests in the Trust shall be deemed for all purposes of
the Agreement and the Related Pass Through Trust Agreement to be certificates
representing the same fractional undivided interests in the Related Trust and
its trust property.  Each Certificateholder, by its acceptance of this
Certificate or a beneficial interest herein, agrees to be bound by the
Assignment and Assumption Agreement and subject to the terms of the Related Pass
Through Trust Agreement as a Certificateholder thereunder.  From and
after the Transfer, unless and to the extent the context otherwise requires,
references herein to the Trust, the Agreement and the Trustee shall constitute
references to the Related Trust, the Related Pass Through Trust Agreement and
trustee of the Related Trust, respectively.

    

    The
Certificates are issuable only as registered Certificates without coupons in
minimum denominations of $1,000 Fractional Undivided Interest and integral
multiples thereof, except that one Certificate may be issued in a different
denomination.  As provided in the Agreement and subject to certain
limitations therein set forth, the Certificates are exchangeable for new
Certificates of authorized denominations evidencing the same aggregate
Fractional Undivided Interest in the Trust, as requested by the
Certificateholder surrendering the same.

    

    No
service charge will be made for any such registration of transfer or exchange,
but the Trustee shall require payment of a sum sufficient to cover any tax or
governmental charge payable in connection therewith.

    

    Each
Certificateholder and Investor, by its acceptance of this Certificate or a
beneficial interest herein, agrees to treat the Trust as a grantor trust for all
U.S. federal, state and local income tax purposes.

    

    The
Trustee, the Registrar, and any agent of the Trustee or the Registrar may treat
the person in whose name this Certificate is registered as the owner hereof for
all purposes, and neither the Trustee, the Registrar, nor any such agent shall
be affected by any notice to the contrary.

    

    The
obligations and responsibilities created by the Agreement and the Trust created
thereby shall terminate upon the distribution to Certificateholders of all
amounts required to be distributed to them pursuant to the Agreement and the
disposition of all property held as part of the Trust Property.

    

    Any
Person acquiring or accepting this Certificate or an interest herein will, by
such acquisition or acceptance, be deemed to have represented and warranted to
and for the benefit of the Company that either:  (i) the assets of an
employee benefit plan subject to Title I of the Employee Retirement Income
Security Act of 1974, as amended (“ERISA”), or of a plan
subject to Section 4975 of the Internal Revenue Code of 1986, as amended (the
“Code”), have
not been used to purchase or hold this Certificate or an interest herein or
(ii) the purchase and holding of this Certificate or an interest herein are
exempt from the prohibited transaction restrictions of ERISA and the Code
pursuant to one or more prohibited transaction statutory or administrative
exemptions.

    

    

    
      
        
           

        

        
           

          
            

          

        

        
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    THE
AGREEMENT AND, UNTIL THE TRANSFER, THIS CERTIFICATE SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN
ACCORDANCE WITH SUCH LAWS.  THE RELATED PASS THROUGH TRUST AGREEMENT
AND, FROM AND AFTER THE TRANSFER, THIS CERTIFICATE SHALL BE GOVERNED AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN
ACCORDANCE WITH SUCH LAWS.

    

    Unless
the certificate of authentication hereon has been executed by the Trustee, by
manual signature, this Certificate shall not be entitled to any benefit under
the Agreement or be valid for any purpose.

    

    IN
WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

     

     

    
      
        
          
            	 
      	
                    CONTINENTAL
      AIRLINES PASS THROUGH TRUST 2009-1A-O

                  
	 
      	 
      
	 
      	
                    By:

                  	
                    WILMINGTON
      TRUST COMPANY,

                    as
      Trustee

                  
	 
      	 
      
	 
      	 
      
	 
      	
                    By:

                  	 
      
	 
      	
                    Name:

                  	 
      
	 
      	
                    Title:

                  	 
      

          

        

      

    

    

    

    
      
        
           

        

        
           

          
            

          

        

        
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    FORM OF
THE TRUSTEE'S CERTIFICATE OF AUTHENTICATION

    

    

    This is
one of the Certificates referred to in the within-mentioned
Agreement.

     

     

    
       

      
        
          
            
              
                
                  	 
      	
                          
                            WILMINGTON
      TRUST COMPANY,

                                
      as Trustee

                          

                        
	 
      	 
      
	 
      	 
      
	 
      	
                          By:

                        	 
      
	 
      	
                           

                        	 Name:
	 
      	
                           

                        	Title:

                

              

            

          

        

      

      

    

    

    
      
        
           

        

        
           

          
            

          

        

        
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    EXHIBIT
B

    

    

    [DTC
Letter of Representations]

    

    
      
        
           

        

        
           

          
            

          

        

        
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    EXHIBIT
C

    

    

    FORM OF
ASSIGNMENT AND ASSUMPTION AGREEMENT

    Continental
Airlines Pass Through Trust 2009-1A-O

    

    ASSIGNMENT
AND ASSUMPTION AGREEMENT (2009-1A-O), dated ________ __, ____ (the “Assignment
Agreement”), between Wilmington Trust Company, a Delaware banking
corporation (“WTC”), not in its
individual capacity except as expressly provided herein, but solely as trustee
under the Pass Through Trust Agreement dated as of September 25, 1997 (as
amended or modified from time to time, the “Basic Agreement”), as
supplemented by the Trust Supplement No. 2009-1A-O dated as of July 1, 2009 (the
“Trust
Supplement” and together with the Basic Agreement, the “Agreement”) in
respect of the Continental Airlines Pass Through Trust 2009-1A-O (the “Assignor”), and
Wilmington Trust Company, a Delaware banking corporation, not in its individual
capacity except as expressly provided herein, but solely as trustee under the
Basic Agreement as supplemented by the Trust Supplement No. 2009-1A-S dated as
of July 1, 2009 (the “New Supplement”, and,
together with the Basic Agreement, the “New Agreement”)
in respect of the Continental Airlines Pass Through Trust 2009-1A-S (the “Assignee”).

    

    W I T N E
S S E T H:

    

    WHEREAS,
the parties hereto desire to effect on the date hereof (the “Transfer Date”) (a)
the transfer by the Assignor to the Assignee of all of the right, title and
interest of the Assignor in, under and with respect to, among other things, the
Trust Property and each of the documents listed in Schedule I hereto (the “Scheduled Documents”)
and (b) the assumption by the Assignee of the obligations of the Assignor (i)
under the Scheduled Documents and (ii) in respect of the Applicable Certificates
issued under the Agreement; and

    

    WHEREAS,
the Scheduled Documents permit such transfer upon satisfaction of certain
conditions heretofore or concurrently herewith being complied with;

    

    NOW,
THEREFORE, in consideration of the premises and of the mutual covenants and
agreements herein contained, the parties hereto do hereby agree as follows
(capitalized terms used herein without definition having the meaning ascribed
thereto in the Agreement):

    

    1.           Assignment.  The
Assignor does hereby sell, assign, convey, transfer and set over unto the
Assignee as of the Transfer Date all of its present and future right, title and
interest in, under and with respect to the Trust Property and the Scheduled
Documents and each other contract, agreement, document or instrument relating to
the Trust Property or the Scheduled Documents (such other contracts, agreements,
documents or instruments, together with the Scheduled Documents, to be referred
to as the “Assigned
Documents”), and any proceeds therefrom, together with all documents and
instruments evidencing any of such right, title and interest.

    

    

    
      
        
           

        

        
           

          
            

          

        

        
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    2.           Assumption.  The
Assignee hereby assumes for the benefit of the Assignor and each of the parties
listed in Schedule II hereto (collectively, the “Beneficiaries”) all
of the duties and obligations of the Assignor, whenever accrued, pursuant to the
Assigned Documents and hereby confirms that it shall be deemed a party to each
of the Assigned Documents to which the Assignor is a party and shall be bound by
all the terms thereof (including the agreements and obligations of the Assignor
set forth therein) as if therein named as the Assignor.  Further, the
Assignee hereby assumes for the benefit of the Assignor and the Beneficiaries
all of the duties and obligations of the Assignor under the Outstanding
Applicable Certificates and hereby confirms that the Applicable Certificates
representing Fractional Undivided Interests under the Agreement shall be deemed
for all purposes of the Agreement and the New Agreement to be certificates
representing the same fractional undivided interests under the New Agreement
equal to their respective beneficial interests in the trust created under the
Agreement.

    

    3.           Effectiveness.  This
Assignment Agreement shall be effective upon the execution and delivery hereof
by the parties hereto, and each Applicable Certificateholder, by its acceptance
of its Applicable Certificate or a beneficial interest therein, agrees to be
bound by the terms of this Assignment Agreement.

    

    4.           Payments.  The
Assignor hereby covenants and agrees to pay over to the Assignee, if and when
received following the Transfer Date, any amounts (including any sums payable as
interest in respect thereof) paid to or for the benefit of the Assignor that,
under Section 1 hereof, belong to the Assignee.

    

    5.           Further
Assurances.  The Assignor shall, at any time and from time to
time, upon the request of the Assignee, promptly and duly execute and deliver
any and all such further instruments and documents and take such further action
as the Assignee may reasonably request to obtain the full benefits of this
Assignment Agreement and of the rights and powers herein granted.  The
Assignor agrees to deliver any Applicable Certificates, and all Trust Property,
if any, then in the physical possession of the Assignor, to the
Assignee.

    

    6.           Representations and
Warranties.  (a)  The Assignee represents and
warrants to the Assignor and each of the Beneficiaries that:

    

    (i)           it
has all requisite power and authority and legal right to enter into and carry
out the transactions contemplated hereby and to carry out and perform the
obligations of the “Pass Through Trustee” under the Assigned
Documents;

    

    (ii)           on
and as of the date hereof, the representations and warranties of the Assignee
set forth in Section 7.15 of the Basic Agreement and Section 5.04 of the New
Supplement are true and correct.

    

    (b)           The
Assignor represents and warrants to the Assignee that:

    

    (i)           it
is duly incorporated, validly existing and in good standing under the laws of
the State of Delaware and has the full trust power, authority and legal right
under

    

    
      
        
           

        

        
           

          
            

          

        

        
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    the laws
of the State of Delaware and the United States pertaining to its trust and
fiduciary powers to execute and deliver this Assignment Agreement;

    

    (ii)           the
execution and delivery by it of this Assignment Agreement and the performance by
it of its obligations hereunder have been duly authorized by it and will not
violate its articles of association or by-laws or the provisions of any
indenture, mortgage, contract or other agreement to which it is a party or by
which it is bound; and

    

    (iii)           this
Assignment Agreement constitutes the legal, valid and binding obligations of it
enforceable against it in accordance with its terms, except as the same may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting the rights of creditors generally and by general
principles of equity, whether considered in a proceeding at law or in
equity.

    

    7.           GOVERNING
LAW.  THIS ASSIGNMENT AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK INCLUDING MATTERS
OF CONSTRUCTION, VALIDITY AND PERFORMANCE.

    

    8.           Counterparts.  This
Assignment Agreement may be executed in any number of counterparts, all of which
together shall constitute a single instrument.  It shall not be
necessary that any counterpart be signed by both parties so long as each party
shall sign at least one counterpart.

    

    9.           Third Party
Beneficiaries.  The Assignee hereby agrees, for the benefit of
the Beneficiaries, that its representations, warranties and covenants contained
herein are also intended to be for the benefit of each Beneficiary, and each
Beneficiary shall be deemed to be an express third party beneficiary with
respect thereto, entitled to enforce directly and in its own name any rights or
claims it may have against such party as such beneficiary.

    

    10.           Notice.   Promptly
following the Transfer Date, the Assignee shall notify the Depositary of the
occurrence of the assignment hereunder and the name and contact information of
the Assignee.

    

    
      
        
           

        

        
           

          
            

          

        

        
          BACK

        

      

    

    

    IN
WITNESS WHEREOF, the parties hereto, through their respective officers thereunto
duly authorized, have duly executed this Assignment Agreement as of the day and
year first above written.

     

    
      

      
        
          	 
      	
                  ASSIGNOR:

                
	 
      	 
      
	 
      	
                  WILMINGTON
      TRUST COMPANY, not in its individual capacity except as expressly provided
      herein, but solely as trustee under the Pass Through Trust Agreement and
      Trust Supplement in respect of the Continental Airlines Pass Through Trust
      2009-1A-O

                
	 
      	 
      
	 
      	
                  By:

                	 
      
	 
      	
                  Title:

                	 
      

        

      

      

      

      
        
          	 
      	
                  ASSIGNEE:

                
	 
      	 
      
	 
      	
                  WILMINGTON
      TRUST COMPANY, not in its individual capacity except as expressly provided
      herein, but solely as trustee under the Pass Through Trust Agreement and
      Trust Supplement in respect of the Continental Airlines Pass Through Trust
      2009-1A-S

                
	 
      	 
      
	 
      	
                  By:

                	 
      
	 
      	
                  Title:

                	 
      

        

      

    

    

    

    
      
        
           

        

        
           

          
            

          

        

        
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    Schedule
I

    

    

    Schedule
of Assigned Documents

    

    (1) Intercreditor
Agreement dated as of July 1, 2009 among the Trustee, the Liquidity Provider and
the Subordination Agent.

     

    (2) Escrow
and Paying Agent Agreement dated as of July 1, 2009 among the Escrow Agent, the
Underwriters, the Trustee and the Paying Agent.

     

    (3) Note
Purchase Agreement dated as of July 1, 2009 among the Company, the Trustee, the
Depositary, the Escrow Agent, the Paying Agent and the Subordination
Agent.

     

    (4) Deposit
Agreement dated as of July 1, 2009 between the Escrow Agent and the
Depositary.

     

    (5) Each of
the Operative Agreements (as defined in the Participation Agreement for each
Aircraft) in effect as of the Transfer Date.

     

     

     

    

      
        
           

        

        
           

          
            

          

        

        
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    Schedule
II

    

    

    Schedule
of Beneficiaries

    

    Wilmington
Trust Company, not in its individual capacity but solely as Subordination
Agent

    

    Wilmington
Trust Company, not in its individual capacity but solely as Paying
Agent

    

    Goldman
Sachs Bank USA, as Liquidity Provider

    

    The Bank
of New York Mellon, as Depositary

    

    Continental
Airlines, Inc.

    

    Morgan
Stanley & Co. Incorporated, as Underwriter

    

    Goldman,
Sachs & Co., as Underwriter

    

    Calyon
Securities (USA) Inc., as Underwriter

    

    Wells
Fargo Bank Northwest, National Association, as Escrow Agent

    

    Each of
the other parties to the Assigned Documentse60709081ex4_2.htm

     

    
      

      

      

      

      

      

      

      

      TRUST
SUPPLEMENT No. 2009-1A-S

      

      Dated as
of July 1, 2009

      

      

      between

      

      WILMINGTON
TRUST COMPANY

      as
Trustee,

      

      

      and

      

      

      CONTINENTAL
AIRLINES, INC.

      

      to

      

      PASS
THROUGH TRUST AGREEMENT

      Dated as
of September 25, 1997

      

      

      $389,687,000

      

      Continental
Airlines Pass Through Trust 2009-1A-S

      9.000%
Continental Airlines

      Pass
Through Certificates,

      Series
2009-1A-S

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      TABLE OF CONTENTS

      

      Page

      
        
          	
                   

                  ARTICLE I THE CERTIFICATES

                	
                   

                  5

                
	
                  Section 1.01.  The Certificates

                	
                  5

                
	
                   

                  ARTICLE II DEFINITIONS

                	
                   

                  7

                
	
                  Section 2.01.  Definitions

                	
                  7

                
	
                   

                  ARTICLE III DISTRIBUTIONS; STATEMENTS TO
      CERTIFICATEHOLDERS

                	
                   

                  15

                
	
                  Section 3.01.  Statements to Applicable
      Certificateholders

                	
                  15

                
	
                  Section 3.02.  Special Payments
      Account

                	
                  17

                
	
                  Section 3.03.  Distributions from Special Payments
      Account

                	
                  17

                
	
                  Section 3.04.  Limitation of Liability for
      Payments

                	
                  18

                
	
                   

                  ARTICLE IV DEFAULT

                	
                   

                  18

                
	
                  Section 4.01.  Purchase Rights of
      Certificateholders

                	
                  18

                
	
                  Section 4.02.  Amendment of Section 6.05 of the
      Basic Agreement

                	
                  21

                
	
                   

                  ARTICLE V THE TRUSTEE

                	
                   

                  21

                
	
                  Section 5.01.  Acquisition of Trust
      Property

                	
                  21

                
	
                  Section 5.02.  [Intentionally
      Omitted]

                	
                  22

                
	
                  Section 5.03.  The Trustee

                	
                  22

                
	
                  Section 5.04.  Representations and Warranties of
      the Trustee

                	
                  22

                
	
                  Section 5.05.  Trustee Liens

                	
                  23

                
	
                   

                  ARTICLE VI ADDITIONAL AMENDMENT; SUPPLEMENTAL
      AGREEMENTS

                	
                   

                  23

                
	
                  Section 6.01.  Amendment of Section 5.02 of the
      Basic Agreement

                	
                  23

                
	
                  Section 6.02.  Supplemental Agreements Without
      Consent of Applicable Certificateholders

                	
                  24

                
	
                  Section 6.03.  Supplemental Agreements with Consent
      of Applicable Certificateholders

                	
                  24

                
	
                  Section 6.04.  Consent of Holders of Certificates
      Issued under Additional Trust

                	
                  24

                
	
                   

                  ARTICLE VII TERMINATION OF TRUST

                	
                   

                  25

                
	
                  Section 7.01.  Termination of the Applicable
      Trust

                	
                  25

                
	
                   

                  ARTICLE VIII MISCELLANEOUS PROVISIONS

                	
                   

                  26

                
	
                  Section 8.01.  Basic Agreement
      Ratified

                	
                  26

                
	
                  Section 8.02.  GOVERNING LAW

                	
                  26

                
	
                  Section 8.03.  Execution in
      Counterparts

                	
                  26

                
	
                  Section 8.04.  Intention of
    Parties

                	
                  26

                

        

      

      

      
        
           

        

        
           

          
            

          

        

        
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      This Trust Supplement No. 2009-1A-S,
dated as of July 1, 2009 (herein called the “Trust Supplement”),
between Continental Airlines, Inc., a Delaware corporation (the “Company”), and
Wilmington Trust Company (the “Trustee”), to the
Pass Through Trust Agreement, dated as of September 25, 1997, between the
Company and the Trustee (the “Basic
Agreement”).

      

      W I T N E S S E T H:

      

      WHEREAS, the Basic Agreement, unlimited
as to the aggregate principal amount of Certificates (unless otherwise specified
herein, capitalized terms used herein without definition having the respective
meanings specified in the Basic Agreement) which may be issued thereunder, has
heretofore been executed and delivered;

      

      WHEREAS,
the Company currently owns 12 Boeing Aircraft (collectively, the “Owned Aircraft”) and
has obtained commitments from Boeing for the delivery of five additional
Aircraft (collectively, the “New Aircraft”,
together with the Owned Aircraft,  the “Applicable
Aircraft”);

      

      WHEREAS,
as of the Transfer Date (as defined below), the Company will have financed (i)
each Owned Aircraft after the existing security interest on such Owned Aircraft
has been discharged and (ii) a portion of the purchase price of the New
Aircraft;

      

      WHEREAS, as of the Transfer Date, with
respect to each Applicable Aircraft, the Company will have issued pursuant to an
Indenture, on a recourse basis, Equipment Notes (i) in the case of each Owned
Aircraft, to finance such Owned Aircraft after the existing security interest on
such Owned Aircraft has been discharged, and (ii) in the case of each New
Aircraft, to finance a portion of the purchase price of such New
Aircraft;

      

      WHEREAS, as of the Transfer Date, the
Related Trustee will assign, transfer and deliver all of such trustee's right,
title and interest to the trust property held by the Related Trustee to the
Trustee pursuant to the Assignment and Assumption Agreement (as defined
below);

      

      WHEREAS, the Trustee, effective only,
but automatically, upon execution and delivery of the Assignment and Assumption
Agreement, will be deemed to have declared the creation of the Continental
Airlines Pass Through Trust 2009-1A-S (the “Applicable Trust”)
for the benefit of the Applicable Certificateholders, and each Holder of
Applicable Certificates outstanding as of the Transfer Date, as the grantors of
the Applicable Trust, by their respective acceptances of such Applicable
Certificates, will join in the creation of the Applicable Trust with the
Trustee;

      

      WHEREAS, all Applicable Certificates
(as defined below) deemed issued by the Applicable Trust will evidence
fractional undivided interests in the Applicable Trust and will convey no
rights, benefits or interests in respect of any property other than the Trust
Property except for those Applicable Certificates to which an Escrow Receipt (as
defined below) has been affixed;

      

      
        
           

        

        
           

          
            

          

        

        
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      WHEREAS, upon the execution and
delivery of the Assignment and Assumption Agreement, all of the conditions and
requirements necessary to make this Trust Supplement, when duly executed and
delivered, a valid, binding and legal instrument in accordance with its terms
and for the purposes herein expressed, have been done, performed and fulfilled,
and the execution and delivery of this Trust Supplement in the form and with the
terms hereof have been in all respects duly authorized;

      

                            WHEREAS,
this Trust Supplement is subject to the provisions of the Trust Indenture Act of
1939, as amended, and shall, to the extent applicable, be governed by such
provisions;

      

      NOW THEREFORE, in consideration of the
premises herein, it is agreed between the Company and the Trustee as
follows:

       

      ARTICLE I

      THE
CERTIFICATES

       

      Section
1.01.  The
Certificates.  The
Applicable Certificates shall be known as “Continental Airlines Pass Through
Certificates, Series 2009-1A-S”.  Each Applicable Certificate
represents a fractional undivided interest in the Applicable Trust created
hereby.  The Applicable Certificates shall be the only instruments
evidencing a fractional undivided interest in the Applicable Trust.

      

      The terms and conditions applicable to
the Applicable Certificates are as follows:

       

      
        (a)           The
aggregate principal amount of the Applicable Certificates that shall be
initially deemed issued under the Agreement shall be equal to the aggregate
principal amount of “Outstanding” pass through certificates representing
fractional undivided interests in the Related Trust on the Transfer
Date.  Subject to the preceding sentence and Section 5.01 of this
Trust Supplement and except for Applicable Certificates authenticated and
delivered under Sections 3.03, 3.04, 3.05 and 3.06 of the Basic Agreement, no
Applicable Certificates shall be authenticated under the Agreement.

         

        (b)           The
Regular Distribution Dates with respect to any payment of Scheduled Payments
means January 8 and July 8 of each year, commencing on January 8, 2010, until
payment of all of the Scheduled Payments to be made under the Equipment Notes
has been made.

         

        (c)           The
Special Distribution Dates with respect to the Applicable Certificates means any
Business Day on which a Special Payment is to be distributed pursuant to the
Agreement.

         

        (d)           At
the Escrow Agent's request under the Escrow Agreement, the Trustee shall affix
the corresponding Escrow Receipt to each Applicable Certificate.  In
any

        
          
             

          

          
             

            
              

            

          

          
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          event,
any transfer or exchange of any Applicable Certificate shall also effect a
transfer or exchange of the related Escrow Receipt.  Prior to the
Final Withdrawal Date, no transfer or exchange of any Applicable Certificate
shall be permitted unless the corresponding Escrow Receipt is attached thereto
and also is so transferred or exchanged.  By acceptance of any
Applicable Certificate to which an Escrow Receipt is attached, each Holder of
such an Applicable Certificate acknowledges and accepts the restrictions on
transfer of the Escrow Receipt set forth herein and in the Escrow
Agreement.

        

         

        (e)           (i)           The
Applicable Certificates shall be in the form attached as Exhibit A to the
Related Pass Through Trust Supplement, with such appropriate insertions,
omissions, substitutions and other variations as are required or permitted by
the Related Pass Through Trust Agreement or the Agreement, as the case may be,
or as the Trustee may deem appropriate, to reflect the fact that the Applicable
Certificates are being issued under the Agreement as opposed to under the
Related Pass Through Trust Agreement.  Any Person acquiring or
accepting an Applicable Certificate or an interest therein will, by such
acquisition or acceptance, be deemed to represent and warrant to and for the
benefit of the Company that either (i) the assets of an employee benefit
plan subject to Title I of the Employee Retirement Income Security Act of
1974, as amended (“ERISA”), or of a plan
subject to Section 4975 of the Internal Revenue Code of 1986, as amended
(the “Code”),
have not been used to purchase or hold Applicable Certificates or an interest
therein or (ii) the purchase and holding of Applicable Certificates or an
interest therein is exempt from the prohibited transaction restrictions of ERISA
and the Code pursuant to one or more prohibited transaction statutory or
administrative exemptions.

         

            (ii)           The
Applicable Certificates shall be Book-Entry Certificates and shall be subject to
the conditions set forth in the Letter of Representations between the Company
and the Clearing Agency attached as Exhibit B to the Related Pass Through Trust
Supplement.

         

        (f)           The
“Participation Agreements” as defined in this Trust Supplement are the “Note
Purchase Agreements” referred to in the Basic Agreement.

         

        (g)           The
Applicable Certificates are subject to the Intercreditor Agreement, the Deposit
Agreement and the Escrow Agreement.

         

        (h)           The
Applicable Certificates are entitled to the benefits of the Liquidity
Facility.

         

        (i)           The
Responsible Party is the Company.

         

        (j)           The
date referred to in clause (i) of the definition of the term “PTC Event of
Default” in the Basic Agreement is the Final Maturity Date.

         

        
          
             

          

          
             

            
              

            

          

          
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        (k)           The
“particular sections of the Note Purchase Agreement”, for purposes of
clause (3) of Section 7.07 of the Basic Agreement, are Section 8.1 of each
Participation Agreement.

         

        (l)           The
Equipment Notes to be acquired and held in the Applicable Trust, and the related
Aircraft and Note Documents, are described in the NPA.

      

       

      ARTICLE II

      DEFINITIONS

       

      Section
2.01.  Definitions.  For
all purposes of the Basic Agreement as supplemented by this Trust Supplement,
the following capitalized terms have the following meanings (any term used
herein which is defined in both this Trust Supplement and the Basic Agreement
shall have the meaning assigned thereto in this Trust Supplement for purposes of
the Basic Agreement as supplemented by this Trust Supplement):

      
         

        Agreement:  Means
the Basic Agreement, as supplemented by this Trust Supplement.

         

        Aircraft:  Means
each of the New Aircraft or Substitute Aircraft in respect of which a
Participation Agreement is entered into in accordance with the NPA (or any
substitute aircraft, including engines therefor, owned by the Company and
securing one or more Equipment Notes).

         

        Aircraft Purchase
Agreement:  Has the meaning specified in the NPA.

         

        Applicable Aircraft:
Has the meaning specified in the recitals hereto.

         

        Applicable
Certificate:  Means any of the “Applicable Certificates” issued
by the Related Trust and that are “Outstanding” (as defined in the Related Pass
Through Trust Agreement) as of the Transfer Date (the “Transfer Date
Certificates”) and any Certificate issued in exchange therefor or
replacement thereof pursuant to the Agreement.

         

        Applicable
Certificateholder:  Means the Person in whose name an
Applicable Certificate is registered on the Register for the Applicable
Certificates.

         

        Applicable
Trust:  Has the meaning specified in the recitals
hereto.

         

        Assignment and Assumption
Agreement:  Means the assignment and assumption agreement
substantially in the form of Exhibit C to the Related Pass Through Trust
Supplement executed and delivered in accordance with Section 7.01 of the Related
Pass Through Trust Supplement.

         

        Basic
Agreement:  Has the meaning specified in the first paragraph of
this Trust Supplement.

        
          
             

          

          
             

            
              

            

          

          
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        Boeing:  Means
The Boeing Company.

         

        Business
Day:  Means any day other than a Saturday, a Sunday or a day on
which commercial banks are required or authorized to close in Houston, Texas,
New York, New York, or, so long as any Applicable Certificate is Outstanding,
the city and state in which the Trustee, the Subordination Agent or any Loan
Trustee maintains its Corporate Trust Office or receives and disburses
funds.

         

        Certificate:  Has
the meaning specified in the Intercreditor Agreement.

         

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

         

        Class:  Has
the meaning specified in the Intercreditor Agreement.

         

        Closing
Notice:  Has the meaning specified in the NPA.

         

        Company:  Has
the meaning specified in the first paragraph of this Trust
Supplement.

         

        Continental Bankruptcy
Event: Has the meaning specified in the Intercreditor
Agreement.

         

        Controlling
Party:  Has the meaning specified in the Intercreditor
Agreement.

         

        Cut-off
Date:  Means the earlier of (a) the Delivery Period
Termination Date and (b) the date on which a Triggering Event
occurs.

         

        Delivery Period Termination
Date:  Has the meaning specified in the Related Pass Through
Trust Supplement.

         

        Deposit
Agreement:  Means the Deposit Agreement dated as of July 1,
2009 relating to the Applicable Certificates between the Depositary and the
Escrow Agent, as the same may be amended, supplemented or otherwise modified
from time to time in accordance with its terms.

        
          
             

          

          
             

            
              

            

          

          
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        Depositary:  Means
The Bank of New York Mellon, a bank chartered under the laws of the State of New
York.

         

        Deposits:  Has
the meaning specified in the Deposit Agreement.

         

        Distribution
Date:  Means any Regular Distribution Date or Special
Distribution Date as the context requires.

         

        Escrow
Agent:  Means, initially, Wells Fargo Bank Northwest, National
Association, and any replacement or successor therefor appointed in accordance
with the Escrow Agreement.

         

        Escrow
Agreement:  Means the Escrow and Paying Agent Agreement dated
as of July 1, 2009 relating to the Applicable Certificates, among the Escrow
Agent, the Escrow Paying Agent, the Related Trustee (and after the Transfer
Date, the Trustee) and the Underwriters, as the same may be amended,
supplemented or otherwise modified from time to time in accordance with its
terms.

         

        Escrow Paying
Agent:  Means the Person acting as paying agent under the
Escrow Agreement.

         

        Escrow
Receipt:  Means the receipt substantially in the form annexed
to the Escrow Agreement representing a fractional undivided interest in the
funds held in escrow thereunder.

         

        Final Maturity
Date:  Means January 8, 2018.

         

        Final
Withdrawal:  Has the meaning specified in the Escrow
Agreement.

         

        Final Withdrawal
Date:  Has the meaning specified in the Escrow
Agreement.

         

        Indenture:  Means
each of the separate trust indentures and mortgages relating to the Aircraft,
each as specified or described in a Closing Notice delivered pursuant to the NPA
or the related Participation Agreement, in each case as the same may be amended,
supplemented or otherwise modified from time to time in accordance with its
terms.

         

        Intercreditor
Agreement:  Means the Intercreditor Agreement dated as of July
1, 2009  among the Related Trustee (and after the Transfer Date, the
Trustee), the  Liquidity Provider and Wilmington Trust Company, as
Subordination Agent and as trustee thereunder, as amended, supplemented or
otherwise modified from time to time in accordance with its terms.

         

        Investors:  Means
the Underwriters, together with all subsequent beneficial owners of the
Applicable Certificates.

        
          
             

          

          
             

            
              

            

          

          
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        Liquidity
Facility:  Means, initially, the Revolving Credit Agreement
dated as of July 1, 2009 relating to the Applicable Certificates, between the
Liquidity Provider and Wilmington Trust Company, as Subordination Agent, as
agent and trustee for the Applicable Trust, and, from and after the replacement
of such agreement pursuant to the Intercreditor Agreement, the replacement
liquidity facility therefor, in each case as amended, supplemented or otherwise
modified from time to time in accordance with their respective
terms.

         

        Liquidity
Provider:  Means, initially, Goldman Sachs Bank USA, a
corporation organized under the Banking Law of the State of New York, and any
replacements or successors therefor appointed in accordance with the
Intercreditor Agreement.

         

        New
Aircraft:  Has the meaning specified in the recitals of this
Trust Supplement.

         

        Note
Documents:  Means the Equipment Notes with respect to the
Applicable Certificates and, with respect to any such Equipment Note, the
Indenture and the Participation Agreement relating to such Equipment
Note.

         

        NPA:  Means
the Note Purchase Agreement dated as of July 1, 2009 among the Related Trustee
(and after the Transfer Date, the Trustee), the Company, the Escrow Agent, the
Escrow Paying Agent and the Subordination Agent, as the same may be amended,
supplemented or otherwise modified from time to time, in accordance with its
terms.

         

        Other
Agreement:  Means the Basic Agreement as supplemented by a
Trust Supplement relating to the Additional Trust, if any.

         

        Outstanding:  When
used with respect to Applicable Certificates, means, as of the date of
determination, all Transfer Date Certificates, and all other Applicable
Certificates theretofore authenticated and delivered under the Agreement, in
each case except:

         

        (i)           Applicable
Certificates theretofore canceled by the Registrar or delivered to the Trustee
or the Registrar for cancellation;

         

        (ii)           Applicable
Certificates for which money in the full amount required to make the final
distribution with respect to such Applicable Certificates pursuant to Section
11.01 of the Basic Agreement has been theretofore deposited with the Trustee in
trust for the Applicable Certificateholders as provided in Section 4.01 of the
Basic Agreement pending distribution of such money to such Applicable
Certificateholders pursuant to payment of such final distribution;
and

         

        (iii)           Applicable
Certificates in exchange for or in lieu of which other Applicable Certificates
have been authenticated and delivered pursuant to the
Agreement.

        
          
             

          

          
             

            
              

            

          

          
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        Owned
Aircraft:  Has the meaning specified in the recitals
hereto.

         

        Participation
Agreement:  Means each Participation Agreement entered into by
the Related Trustee pursuant to the NPA, as the same may be amended,
supplemented or otherwise modified in accordance with its terms.

         

        Pool
Balance:  Means, as of any date, (i) the original aggregate
face amount of the “Applicable Certificates” as defined in the Related Pass
Through Trust Agreement, less (ii) the aggregate amount of all payments
made as of such date in respect of such Certificates, the Applicable
Certificates (as defined in the Related Pass Through Trust Agreement) or the
Deposits, other than payments made in respect of interest or premium thereon or
reimbursement of any costs or expenses incurred in connec­tion
therewith.  The Pool Balance as of any date shall be computed after
giving effect to any special distribution with respect to unused Deposits,
payment of principal of the Equipment Notes, or payment with respect to other
Trust Property and the distribution thereof to be made on that
date.

         

        Pool
Factor:  Means, as of any Distribution Date, the quotient
(rounded to the seventh decimal place) computed by dividing (i) the Pool Balance
by (ii) the original aggregate face amount of the “Applicable Certificates” as
defined in the Related Pass Through Trust Agreement.  The Pool Factor
as of any Distribution Date shall be computed after giving effect to any special
distribution with respect to unused Deposits, payment of principal of the
Equipment Notes, or payment with respect to other Trust Property and the
distribution thereof to be made on that date.

         

        Prospectus
Supplement:  Means the final Prospectus Supplement dated June
16, 2009 relating to the offering of the Applicable Certificates.

         

        Ratings
Confirmation:  Has the meaning specified in the Intercreditor
Agreement.

         

        Related Pass Through Trust
Agreement:  Means the Basic Agreement as supplemented by the
Trust Supplement No. 2009-1A-O dated as of the date hereof (the “Related Pass Through Trust
Supplement”), relating to the Continental Airlines Pass Through Trust
2009-1A-O and entered into by the Company and the Related Trustee, as amended,
supplemented or otherwise modified from time to time in accordance with its
terms.

         

        Related
Trust:  Means the Continental Pass Through Trust 2009-1A-O,
formed under the Related Pass Through Trust Agreement.

         

        Related
Trustee:  Means the trustee under the Related Pass Through
Trust Agreement.

        

        
          
             

          

          
             

            
              

            

          

          
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        Scheduled
Payment:  Means, with respect to any Equipment Note, (i) any
payment of principal or interest on such Equipment Note (other than any such
payment which is not in fact received by the Trustee or any Subordination Agent
within five days of the date on which such payment is scheduled to be made) or
(ii) any payment of interest on the Applicable Certificates with funds drawn
under the Liquidity Facility, which payment in any such case represents the
installment of principal on such Equipment Note at the stated maturity of such
installment, the payment of regularly scheduled interest accrued on the unpaid
principal amount of such Equipment Note, or both; provided, however, that any
payment of principal, premium, if any, or interest resulting from the redemption
or purchase of any Equipment Note shall not constitute a Scheduled
Payment.

         

        Special
Payment:  Means any payment (other than a Scheduled Payment) in
respect of, or any proceeds of, any Equipment Note or Collateral (as defined in
each Indenture).

         

        Substitute
Aircraft:  Has the meaning specified in the NPA.

         

        Transfer
Date:  Means the moment of execution and delivery of the
Assignment and Assumption Agreement by each of the parties thereto.

         

        Transfer Date
Certificates:  Has the meaning specified in the definition of
“Applicable Certificates”.

         

        Triggering
Event:  Has the meaning assigned to such term in the
Intercreditor Agreement.

         

        Trust
Property:  Means (i) subject to the Intercreditor Agreement,
the Equipment Notes held as the property of the Applicable Trust, all monies at
any time paid thereon and all monies due and to become due thereunder,
(ii) funds from time to time deposited in the Certificate Account and the
Special Payments Account and, subject to the Intercreditor Agreement, any
proceeds from the sale by the Trustee pursuant to Article VI of the Basic
Agreement of any Equipment Note and (iii) all rights of the Applicable
Trust and the Trustee, on behalf of the Applicable Trust, under the
Intercreditor Agreement, the Escrow Agreement, the NPA and the Liquidity
Facility, including, without limitation, all rights to receive certain payments
thereunder, and all monies paid to the Trustee on behalf of the Applicable Trust
pursuant to the Intercreditor Agreement or the Liquidity Facility, provided that rights
with respect to the Deposits or under the Escrow Agreement will not constitute
Trust Property.

         

        Trust
Supplement:  Has the meaning specified in the first paragraph
of this trust supplement.

         

        Trustee:  Has
the meaning specified in the first paragraph of this Trust
Supplement.

        
          
             

          

          
             

            
              

            

          

          
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        Underwriters:  Means,
collectively, Morgan Stanley & Co. Incorporated, Goldman, Sachs & Co.
and Calyon Securities (USA) Inc.

         

        Underwriting
Agreement:  Means the Underwriting Agreement dated June 16,
2009 among the Underwriters, the Company and the Depositary, as the same may be
amended, supplemented or otherwise modified from time to time in accordance with
its terms.

      

       

      ARTICLE III

      DISTRIBUTIONS;
STATEMENTS TO CERTIFICATEHOLDERS

       

      Section
3.01.  Statements to Applicable
Certificateholders.  (a)  On
each Distribution Date, the Trustee will include with each distribution to
Applicable Certificateholders of a Scheduled Payment or Special Payment, as the
case may be, a statement setting forth the information provided below (in the
case of a Special Payment, reflecting in part the information provided by the
Escrow Paying Agent under the Escrow Agreement).  Such statement shall
set forth (per $1,000 face amount Applicable Certificate as to (ii), (iii), (iv)
and (v) below) the following information:

       

      (i)           the
aggregate amount of funds distributed on such Distribution Date under the
Agreement and under the Escrow Agreement, indicating the amount allocable to
each source, including any portion thereof paid by the Liquidity
Provider;

       

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

       

      (iii)           the
amount of such distribution under the Agreement allocable to
interest;

       

      (iv)           the
amount of such distribution under the Escrow Agreement allocable to
interest;

       

      (v)           the
amount of such distribution under the Escrow Agreement allocable to unused
Deposits, if any; and

       

      (vi)           the
Pool Balance and the Pool Factor.

    

    
      With respect to the Applicable
Certificates registered in the name of a Clearing Agency or its nominee, on the
Record Date prior to each Distribution Date, the Trustee will request that such
Clearing Agency post on its Internet bulletin board a securities position
listing setting forth the names of all Clearing Agency Participants reflected on
such Clearing Agency’s books as holding interests in the Applicable Certificates
on such Record Date.  On each Distribution Date, the Trustee will mail
to each such Clearing Agency Participant the statement

      
        
           

        

        
           

          
            

          

        

        
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      described
above and will make available additional copies as requested by such Clearing
Agency Participant for forwarding to holders of interests in the Applicable
Certificates.

      

      (b)           Within
a reasonable period of time after the end of each calendar year but not later
than the latest date permitted by law, the Trustee shall furnish to each Person
who at any time during such calendar year was an Applicable Certificateholder of
record a statement containing the sum of the amounts determined pursuant to
clauses (a)(i), (a)(ii), (a)(iii), (a)(iv) and (a)(v) above for such calendar
year or, in the event such Person was an Applicable Certificateholder of record
during a portion of such calendar year, for such portion of such year, and such
other items as are readily available to the Trustee and which an Applicable
Certificateholder shall reasonably request as necessary for the purpose of such
Applicable Certificateholder's preparation of its U.S. federal income tax
returns.  Such statement and such other items shall be prepared on the
basis of information supplied to the Trustee by the Clearing Agency Participants
and shall be delivered by the Trustee to such Clearing Agency Participants to be
available for forwarding by such Clearing Agency Participants to the holders of
interests in the Applicable Certificates in the manner described in Section
3.01(a) of this Trust Supplement.

      

      (c)           If
the aggregate principal payments scheduled for a Regular Distribution Date prior
to the Delivery Period Termination Date differ from the amount thereof set forth
for the Applicable Certificates on page S-30 of the Prospectus Supplement,
by no later than the 15th day
prior to such Regular Distribution Date, the Trustee (if the Related Trustee has
not already done so) shall mail written notice of the actual amount of such
scheduled payments to the Applicable Certificateholders of record as of a date
within 15 Business Days prior to the date of mailing.

      

      (d)           Promptly
following (i) the Delivery Period Termination Date, if there has been any change
in the information set forth in clauses (y) and (z) below from that set forth in
page S-30 of the Prospectus Supplement, and (ii) the date of any early
redemption or purchase of, or any default in the payment of principal or
interest in respect of, any of the Equipment Notes held in the Applicable Trust,
or any Final Withdrawal, the Trustee (if the Related Trustee has not already
done so) shall furnish to Applicable Certificateholders of record on such date a
statement setting forth (x) the expected Pool Balances for each subsequent
Regular Distribution Date following the Delivery Period Termination Date, (y)
the related Pool Factors for such Regular Distribution Dates and (z) the
expected principal distribution schedule of the Equipment Notes, in the
aggregate, held as Trust Property at the date of such notice.  With
respect to the Applicable Certificates registered in the name of a Clearing
Agency, on the Transfer Date, the Trustee (if the Related Trustee has not
already done so) will request from such Clearing Agency a securities position
listing setting forth the names of all Clearing Agency Participants reflected on
such Clearing Agency's books as holding interests in the “Applicable
Certificates” (as defined in the Related Pass Through Trust Agreement) on the
Delivery Period Termination Date.  The Trustee (if the Related Trustee
has not already done so) will mail to each such Clearing Agency Participant the
statement described above and will make available additional copies as requested
by such Clearing Agency Participant for forwarding to holders of interests in
the Applicable Certificates.

      
        
           

        

        
           

          
            

          

        

        
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      (e)           The
Trustee shall provide promptly to the Applicable Certificateholders all material
non-confidential information received by the Trustee from the
Company.

      

      (f)           This
Section 3.01 supersedes and replaces Section 4.03 of the Basic Agreement, with
respect to the Applicable Trust.

      

      Section
3.02.  Special Payments
Account.  (a)  The
Trustee shall establish and maintain on behalf of the Applicable
Certificateholders a Special Payments Account as one or more accounts, which
shall be non-interest bearing except as provided in Section 4.04 of the Basic
Agreement.  The Trustee shall hold the Special Payments Account in
trust for the benefit of the Applicable Certificateholders and shall make or
permit withdrawals therefrom only as provided in the Agreement.  On
each day when one or more Special Payments are made to the Trustee under the
Intercreditor Agreement, the Trustee, upon receipt thereof, shall immediately
deposit the aggregate amount of such Special Payments in the Special Payments
Account.

       

      (b)  This
Section 3.02 supersedes and replaces Section 4.01(b) of the Basic Agreement in
its entirety, with respect to the Applicable Trust.

       

      Section
3.03.  Distributions from Special
Payments Account.  (a)  On
each Special Distribution Date with respect to any Special Payment or as soon
thereafter as the Trustee has confirmed receipt of any Special Payments due on
the Equipment Notes held (subject to the Intercreditor Agreement) in the
Applicable Trust or realized upon the sale of such Equipment Notes, the Trustee
shall distribute out of the Special Payments Account the entire amount of such
Special Payment deposited therein pursuant to Section 3.02(a) of this Trust
Supplement.  There shall be so distributed to each Applicable
Certificateholder of record on the Record Date with respect to such Special
Distribution Date (other than as provided in Section 7.01 of this Trust
Supplement concerning the final distribution) by check mailed to such Applicable
Certificateholder, at the address appearing in the Register, such Applicable
Certificateholder's pro rata share (based on the Fractional Undivided Interest
in the Applicable Trust held by such Applicable Certificateholder) of the total
amount in the Special Payments Account on account of such Special Payment,
except that, with respect to Applicable Certificates registered on the Record
Date in the name of a Clearing Agency (or its nominee), such distribution shall
be made by wire transfer in immediately available funds to the account
designated by such Clearing Agency (or such nominee).

       

      (b)           The
Trustee shall, at the expense of the Company, cause notice of each Special
Payment to be mailed to each Applicable Certificateholder at his address as it
appears in the Register.  In the event of redemption or purchase of
Equipment Notes held in the Applicable Trust, such notice shall be mailed not
less than 15 days prior to the Special Distribution Date for the Special Payment
resulting from such redemption or purchase, which Special Distribution Date
shall be the date of such redemption or purchase.  In the case of any
Special Payments, such notice shall be mailed as soon as practicable after the
Trustee has confirmed that it has received funds for such Special Payment,
stating the Special Distribution Date for such Special Payment which shall occur
not less than 15 days after the date of such notice and as soon as practicable
thereafter.  Notices with respect to a Special Payment mailed by the
Trustee shall set forth:

      
        
           

        

        
           

          
            

          

        

        
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      (i)           the
Special Distribution Date and the Record Date therefor (except as otherwise
provided in Section 7.01 of this Trust Supplement),

       

      (ii)           the
amount of the Special Payment for each $1,000 face amount Applicable Certificate
and the amount thereof constituting principal, premium, if any, and
interest,

       

      (iii)           the
reason for the Special Payment, and

       

      (iv)           if
the Special Distribution Date is the same date as a Regular Distribution Date,
the total amount to be received on such date for each $1,000 face amount
Applicable Certificate.

       

      If the
amount of premium, if any, payable upon the redemption or purchase of an
Equipment Note has not been calculated at the time that the Trustee mails notice
of a Special Payment, it shall be sufficient if the notice sets forth the other
amounts to be distributed and states that any premium received will also be
distributed.

       

      If any
redemption of the Equipment Notes held in the Trust is canceled, the Trustee, as
soon as possible after learning thereof, shall cause notice thereof to be mailed
to each  Applicable Certificateholder at its address as it appears on
the Register.

       

      (b)  This
Section 3.03 supersedes and replaces Section 4.02(b) and Section 4.02(c) of the
Basic Agreement in their entirety, with respect to the Applicable
Trust.

      

      Section
3.04.  Limitation of Liability for
Payments.  Section
3.09 of the Basic Agreement shall be amended, with respect to the Applicable
Trust, by deleting the phrase “the Owner Trustees or the Owner Participants” in
the second sentence thereof and adding in lieu thereof “the Liquidity
Provider”.

       

      ARTICLE IV

      DEFAULT

       

      Section
4.01.  Purchase Rights of
Certificateholders.  (a)
By acceptance of its Applicable Certificate, each Applicable Certificateholder
agrees that at any time after the occurrence and during the continuation of a
Certificate Buyout Event, if any Additional Certificates are issued pursuant to
the Additional Trust, each Additional Certificateholder (other than the Company
or any of its Affiliates), shall have the right to purchase all, but not less
than all, of the Applicable Certificates upon 15 days’ written notice to the
Trustee and each other Additional Certificateholder, on the third Business Day
next following the expiry of such 15-day notice period, provided that (A) if
prior to the end of such 15-day period any other Additional Certificateholder
(other than the Company or any of its Affiliates) notifies such purchasing
Additional Certificateholder that such other Additional Certificateholder wants
to participate in such purchase, then such other Additional Certificateholder
(other than the Company or any of its Affiliates) may join with the purchasing
Additional Certificateholder to purchase all, but not

      
        
           

        

        
           

          
            

          

        

        
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      less than
all, of the Applicable Certificates pro rata based on the Fractional Undivided
Interest in the Additional Trust held by each such Additional Certificateholder
and (B) if prior to the end of such 15-day period any other Additional
Certificateholder fails to notify the purchasing Additional Certificateholder of
such other Additional Certificateholder's desire to participate in such a
purchase, then such other Additional Certificateholder shall lose its right to
purchase the Applicable Certificates pursuant to this Section
4.01(a).

      

      The
purchase price with respect to the Applicable Certificates shall be equal to the
Pool Balance of the Applicable Certificates, together with accrued and unpaid
interest thereon to the date of such purchase, without premium, but including
any other amounts then due and payable to the Applicable Certificateholders
under the Agreement, the Intercreditor Agreement, the Escrow Agreement or any
Note Document or on or in respect of the Applicable Certificates; provided, however, that no such
purchase of Applicable Certificates shall be effective unless the purchaser(s)
shall certify to the Trustee that contemporaneously with such purchase, such
purchaser(s) is (are) purchasing all of the Applicable Certificates pursuant to
the terms of the Agreement and the Other Agreement.  Each payment of
the purchase price of the Applicable Certificates referred to in the first
sentence hereof shall be made to an account or accounts designated by the
Trustee and each such purchase shall be subject to the terms of this Section
4.01.  Each Applicable Certificateholder agrees by its acceptance of
its Applicable Certificate that (at any time after the occurrence of a
Certificate Buyout Event) it will, upon payment from such Additional
Certificateholder(s) of the purchase price set forth in the first sentence of
this paragraph, (i) forthwith sell, assign, transfer and convey to the
purchaser(s) thereof (without recourse, representation or warranty of any kind
except for its own acts), all of the right, title, interest and obligation of
such Applicable Certificateholder in the Agreement, the Escrow Agreement, the
Deposit Agreement, the Intercreditor Agreement, the Liquidity Facility, the NPA,
the Note Documents and all Applicable Certificates and Escrow Receipts held by
such Applicable Certificateholder (excluding all right, title and interest under
any of the foregoing to the extent such right, title or interest is with respect
to an obligation not then due and payable as respects any action or inaction or
state of affairs occurring prior to such sale) (and the purchaser shall assume
all of such Applicable Certificateholder's obligations under the Agreement, the
Escrow Agreement, the Deposit Agreement, the Intercreditor Agreement, the
Liquidity Facility, the NPA, the Note Documents and all such Applicable
Certificates and Escrow Receipts), (ii) if such purchase occurs after a
record date specified in Section 2.03 of the Escrow Agreement relating to
the distribution of unused Deposits and/or accrued and unpaid interest on
Deposits and prior to or on the related distribution date thereunder, forthwith
turn over to the purchaser(s) of its Applicable Certificate all amounts, if any,
received by it on account of such distribution, and (iii) if such purchase
occurs after a Record Date relating to any distribution and prior to or on the
related Distribution Date, forthwith turn over to the purchaser(s) of its
Applicable Certificate all amounts, if any, received by it on account of such
distribution.  The Applicable Certificates will be deemed to be
purchased on the date payment of the purchase price is made notwithstanding the
failure of the Applicable Certificateholders to deliver any Applicable
Certificates and, upon such a purchase, (I) the only rights of the Applicable
Certificateholders will be to deliver the Applicable Certificates to the
purchaser(s) and receive the purchase price for such Applicable Certificates and
(II) if the purchaser(s) shall so request, such Applicable Certificateholder
will comply with all the provisions of Section 3.04 of the Basic Agreement
to

      
        
           

        

        
           

          
            

          

        

        
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      enable
new Applicable Certificates to be issued to the purchaser in such denominations
as it shall request.  All charges and expenses in connection with the
issuance of any such new Applicable Certificates shall be borne by the purchaser
thereof.

      

      As used
in this Section 4.01 and elsewhere in this Trust Supplement, the terms
“Additional Certificate”, “Additional Certificateholder”, “Additional Equipment
Notes” and “Additional Trust” shall have the respective meanings assigned to
such terms in the Intercreditor Agreement.

      

      (b)           This
Section 4.01 supersedes and replaces Section 6.01(b) of the Basic
Agreement, with respect to the Applicable Trust.

      

      Section
4.02.  Amendment of
Section 6.05 of the Basic Agreement.  Section 6.05
of the Basic Agreement shall be amended, with respect to the Applicable Trust,
by deleting the phrase “and thereby annul any Direction given by such
Certificateholders or the Trustee to such Loan Trustee with respect thereto,”
set forth in the first sentence thereof.

       

      ARTICLE V

      THE
TRUSTEE

       

      Section
5.01.  Acquisition of Trust
Property.  (a)  The
Trustee is hereby irrevocably authorized and directed to execute and deliver the
Assignment and Assumption Agreement on the date specified in Section 7.01 of the
Related Pass Through Trust Supplement, subject only to the satisfaction of the
conditions set forth in said Section 7.01.  The Agreement (except only
for this sentence and the immediately preceding sentence hereof, which are
effective upon execution and delivery hereof) shall become effective upon the
execution and delivery of the Assignment and Assumption Agreement by the Trustee
and the Related Trustee, automatically and without any further signature or
action on the part of the Company and the Trustee, and shall thereupon
constitute the legal, valid and binding obligation of the parties hereto
enforceable against each of the parties hereto in accordance with its
terms.  Upon such execution and delivery of the Assignment and
Assumption Agreement, the Related Trust shall be terminated, the Applicable
Certificateholders shall receive beneficial interests in the Applicable Trust in
exchange for their interests in the Related Trust equal to their respective
beneficial interests in the Related Trust and the “Outstanding” (as defined in
the Related Pass Through Trust Agreement) pass through certificates representing
fractional undivided interests in the Related Trust shall be deemed for all
purposes of the Agreement, without further signature or action of any party or
Certificateholder, to be Certificates representing the same Fractional Undivided
Interests in the Applicable Trust and Trust Property.  By acceptance
of its Applicable Certificate, each Applicable Certificateholder consents to and
ratifies such assignment, transfer and delivery of the trust property of the
Related Trust to the Trustee upon the execution and delivery of the Assignment
and Assumption Agreement.  The provisions of this Section 5.01(a)
supersede and replace the provisions of Section 2.02 of the Basic Agreement with
respect to the Applicable Trust, and all provisions of the Basic Agreement
relating to Postponed Notes or Section 2.02 of the Basic Agreement shall not
apply to the Applicable Trust.

      

      
        
           

        

        
           

          
            

          

        

        
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      (b)              The
Trustee, upon the execution and delivery of the Assignment and Assumption
Agreement, acknowledges its acceptance of all right, title and interest in and
to the Trust Property and declares that the Trustee holds and will hold such
right, title and interest for the benefit of all then present and future
Applicable Certificateholders, upon the trusts herein and in the Basic Agreement
set forth.  By the acceptance of each Applicable Certificate issued to
it under the Related Pass Through Trust Agreement and deemed issued under the
Agreement, each Holder of any such Applicable Certificate as grantor of the
Applicable Trust thereby joins in the creation and declaration of the Applicable
Trust.  The provisions of this Section 5.01(b) supersede and replace
the provisions of Section 2.03 of the Basic Agreement, with respect to the
Applicable Trust.

      

      Section 5.02.   [Intentionally
Omitted]

      

      Section
5.03.  The
Trustee.  (a)  Subject
to Section 5.04 of this Trust Supplement and Section 7.15 of the Basic
Agreement, the Trustee shall not be responsible in any manner whatsoever for or
in respect of the validity or sufficiency of this Trust Supplement, the Deposit
Agreement, the NPA or the Escrow Agreement or the due execution hereof or
thereof by the Company or the other parties thereto (other than the Trustee), or
for or in respect of the recitals and statements contained herein or therein,
all of which recitals and statements are made solely by the Company, except that
the Trustee hereby represents and warrants that each of this Trust Supplement,
the Basic Agreement, each Applicable Certificate, the Intercreditor Agreement,
the NPA and the Escrow Agreement has been executed and delivered by one of its
officers who is duly authorized to execute and deliver such document on its
behalf.

      

      (b)           Except
as herein otherwise provided and except during the continuation of an Event of
Default in respect of the Applicable Trust created hereby, no duties,
responsibilities or liabilities are assumed, or shall be construed to be
assumed, by the Trustee by reason of this Trust Supplement other than as set
forth in the Agreement, and this Trust Supplement is executed and accepted on
behalf of the Trustee, subject to all the terms and conditions set forth in the
Agreement, as fully to all intents as if the same were herein set forth at
length.

      

      Section
5.04.  Representations and
Warranties of the Trustee.  The
Trustee hereby represents and warrants, on the Transfer Date, that:

       

      (a)           the
Trustee has full power, authority and legal right to receive the Trust Property
assigned by the Related Trustee, assume the obligations under, and perform, the
Assignment and Assumption Agreement, this Trust Supplement, the Intercreditor
Agreement, the Escrow Agreement, the NPA and the Note Documents to which it is a
party and has taken all necessary action to authorize such receipt, assumption
and performance by it of this Trust Supplement, the Intercreditor Agreement, the
Escrow Agreement, the NPA and the Note Documents to which it is a
party;

       

      (b)           the
receipt of the Trust Property under the Assignment and Assumption Agreement and
the performance by the Trustee of the Assignment and Assumption Agreement, this
Trust Supplement, the Intercreditor Agreement, the Escrow
Agreement,

      

      
        
          
             

          

          
             

            
              

            

          

          
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        the NPA
and the Note Documents to which it is a party (i) will not violate any
provision of any United States federal law or the law of the state of the United
States where it is located governing the banking and trust powers of the Trustee
or any order, writ, judgment, or decree of any court, arbitrator or governmental
authority applicable to the Trustee or any of its assets, (ii) will not
violate any provision of the articles of association or by-laws of the Trustee,
and (iii) will not violate any provision of, or constitute, with or without
notice or lapse of time, a default under, or result in the creation or
imposition of any lien on any properties included in the Trust Property pursuant
to the provisions of any mortgage, indenture, contract, agreement or other
undertaking to which it is a party, which violation, default or lien could
reasonably be expected to have an adverse effect on the Trustee's performance or
ability to perform its duties hereunder or thereunder or on the transactions
contemplated herein or therein;

         

      

      (c)           the
receipt of the Trust Property under the Assignment and Assumption Agreement and
the performance by the Trustee of the Assignment and Assumption Agreement, this
Trust Supplement, the Intercreditor Agreement, the Escrow Agreement, the NPA and
the Note Documents to which it is a party will not require the authorization,
consent, or approval of, the giving of notice to, the filing or registration
with, or the taking of any other action in respect of, any governmental
authority or agency of the United States or the state of the United States where
it is located regulating the banking and corporate trust activities of the
Trustee; and

       

      (d)           the
Assignment and Assumption Agreement has been duly executed and delivered by the
Trustee and this Trust Supplement, the Intercreditor Agreement, the Escrow
Agreement, the NPA and the Note Documents to which it is a party have been, or
will be, as applicable, duly executed and delivered by the Trustee and
constitute, or will constitute, as applicable, the legal, valid and binding
agreements of the Trustee, enforceable against it in accordance with their
respective terms; provided, however, that
enforceability may be limited by (i) applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the rights of creditors
generally and (ii) general principles of equity.

      

      Section
5.05.  Trustee
Liens.  The
Trustee in its individual capacity agrees, in addition to the agreements
contained in Section 7.17 of the Basic Agreement, that it will at its own cost
and expense promptly take any action as may be necessary to duly discharge and
satisfy in full any Trustee's Liens on or with respect to the Trust Property
which is attributable to the Trustee in its individual capacity and which is
unrelated to the transactions contemplated by the Intercreditor Agreement or the
NPA.

       

      ARTICLE VI

      ADDITIONAL
AMENDMENT; SUPPLEMENTAL AGREEMENTS

       

      Section
6.01.  Amendment of Section 5.02 of
the Basic Agreement.  Section 5.02
of the Basic Agreement shall be amended, with respect to the Applicable Trust,
by (i) replacing the phrase “of the Note Documents and of this Agreement”
set forth in paragraph (b) thereof

      
        
           

        

        
           

          
            

          

        

        
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      with the
phrase “of the Note Documents, of the NPA and of this Agreement” and
(ii) replacing the phrase “of this Agreement and any Note Document” set
forth in the last paragraph of Section 5.02 with the phrase “of this
Agreement, the NPA and any Note Document”.

      

      Section
6.02.  Supplemental Agreements
Without Consent of Applicable Certificateholders.  Without
limitation of Section 9.01 of the Basic Agreement, under the terms of, and
subject to the limitations contained in, Section 9.01 of the Basic Agreement,
the Company may (but will not be required to), and the Trustee (subject to
Section 9.03 of the Basic Agreement) shall, at the Company's request, at
any time and from time to time, (i) enter into one or more agreements
supplemental to the Escrow Agreement, the NPA or the Deposit Agreement, for any
of the purposes set forth in clauses (1) through (9) of such
Section 9.01, and (without limitation of the foregoing or Section 9.01
of the Basic Agreement) (a) clauses (2) and (3) of such Section 9.01 shall
also be deemed to include the Company's obligations under (in the case of
clause (2)), and the Company's rights and powers conferred by (in the case
of clause (3)), the NPA, and (b) references in clauses (4), (6) and (7) of such
Section 9.01 to “any Intercreditor Agreement or any Liquidity Facility” shall
also be deemed to refer to “the Intercreditor Agreement, the Liquidity Facility,
the Escrow Agreement, the NPA or the Deposit Agreement” and (ii) enter into one
or more agreements supplemental to the Agreement, the Intercreditor Agreement or
the NPA to provide for the formation of a single Additional Trust, the issuance
of Additional Certificates, the purchase by the Additional Trust (if any) of
applicable Additional Equipment Notes and other matters incidental thereto or
otherwise contemplated by Section 2.01(b) of the Basic Agreement, subject to the
provisions of Section 4(a)(vi) of the NPA and Section 9.1 of the Intercreditor
Agreement.

      

      Section
6.03.  Supplemental Agreements with
Consent of Applicable Certificateholders.  Without
limitation of Section 9.02 of the Basic Agreement, the provisions of Section
9.02 of the Basic Agreement shall apply to agreements or amendments for the
purpose of adding any provisions to or changing in any manner or eliminating any
of the provisions of the Escrow Agreement, the Deposit Agreement, the Liquidity
Facility or the NPA or modifying in any manner the rights and obligations of the
Applicable Certificateholders under the Escrow Agreement, the Deposit Agreement,
the Liquidity Facility or the NPA; provided that the provisions of
Section 9.02(1) of the Basic Agreement shall be deemed to include
reductions in any manner of, or delay in the timing of, any receipt by the
Applicable Certificateholders of payments upon the Deposits.

      

      Section
6.04.  Consent of Holders of
Certificates Issued under Additional Trust.  Notwithstanding
any provision in Section 6.02 or Section 6.03 of this Trust Supplement to the
contrary, no amendment or modification of Section 4.01 of this Trust Supplement
shall be effective unless the trustee for the Additional Trust, if any, affected
by such amendment or modification shall have consented thereto.

      
        
           

        

        
           

          
            

          

        

        
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      ARTICLE VII

      TERMINATION
OF TRUST

       

      Section
7.01.  Termination of the
Applicable Trust.  (a)  The
respective obligations and responsibilities of the Company and the Trustee with
respect to the Applicable Trust shall terminate upon the distribution to all
Applicable Certificateholders and the Trustee of all amounts required to be
distributed to them pursuant to the Agreement and the disposition of all
property held as part of the Trust Property; provided, however, that in no
event shall the Applicable Trust continue beyond one hundred ten (110) years
following the date of the execution of this Trust Supplement.

      

      Notice of any termination, specifying
the Distribution Date upon which the Applicable Certificateholders may surrender
their Applicable Certificates to the Trustee for payment of the final
distribution and cancellation, shall be mailed promptly by the Trustee to
Applicable Certificateholders not earlier than the 60th day and
not later than the 15th day
next preceding such final Distribution Date specifying (A) the Distribution Date
upon which the proposed final payment of the Applicable Certificates will be
made upon presentation and surrender of Applicable Certificates at the office or
agency of the Trustee therein specified, (B) the amount of any such
proposed final payment, and (C) that the Record Date otherwise applicable to
such Distribution Date is not applicable, payments being made only upon
presentation and surrender of the Applicable Certificates at the office or
agency of the Trustee therein specified.  The Trustee shall give such
notice to the Registrar at the time such notice is given to Applicable
Certificateholders.  Upon presentation and surrender of the Applicable
Certificates in accordance with such notice, the Trustee shall cause to be
distributed to Applicable Certificateholders such final payments.

      

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

      

      (b)           The
provisions of this Section 7.01 supersede and replace the provisions of Section
11.01 of the Basic Agreement in its entirety, with respect to the Applicable
Trust.

      
        
           

        

        
           

          
            

          

        

        
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      ARTICLE VIII

      MISCELLANEOUS
PROVISIONS

       

      Section 8.01.  Basic Agreement
Ratified.  Except
and so far as herein expressly provided, all of the provisions, terms and
conditions of the Basic Agreement are in all respects ratified and confirmed;
and the Basic Agreement and this Trust Supplement shall be taken, read and
construed as one and the same instrument.  All replacements of
provisions of, and other modifications of the Basic Agreement set forth in this
Trust Supplement are solely with respect to the Applicable Trust.

      

      Section
8.02.  GOVERNING
LAW.  THE AGREEMENT AND THE APPLICABLE
CERTIFICATES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK.  THIS SECTION 8.02 SUPERSEDES AND REPLACES
SECTION 12.05 OF THE BASIC AGREEMENT, WITH RESPECT TO THE APPLICABLE
TRUST.

      

      Section
8.03.  Execution in
Counterparts.  This
Trust Supplement may be executed in any number of counterparts, each of which
shall be an original, but such counterparts shall together constitute but one
and the same instrument.

      

      Section
8.04.  Intention of
Parties.  The
parties hereto intend that the Applicable Trust be classified for U.S. federal
income tax purposes as a grantor trust under Subpart E, Part I of
Subchapter J of the Internal Revenue Code of 1986, as amended, and not as a
trust or association taxable as a corporation or as a
partnership.  Each Applicable Certificateholder and Investor, by its
acceptance of its Applicable Certificate or a beneficial interest therein,
agrees to treat the Applicable Trust as a grantor trust for all U.S. federal,
state and local income tax purposes.  The powers granted and
obligations undertaken pursuant to the Agreement shall be so construed so as to
further such intent.

      
        
           

        

        
           

          
            

          

        

        
          BACK

        

      

      IN WITNESS WHEREOF, the Company and the
Trustee have caused this Trust Supplement to be duly executed by their
respective officers thereto duly authorized, as of the day and year first
written above.

      

      
        	 
      	
                CONTINENTAL
      AIRLINES, INC.

              
	 
      	 
      
	 
      	 
      
	 
      	
                By:

              	 
      
	 
      	 
      	
                Name:

              	 
      
	 
      	 
      	
                Title:

              	 
      

      

      

      

      

      
        	 
      	
                WILMINGTON
      TRUST COMPANY,

                      as
      Trustee

              
	 
      	 
      
	 
      	 
      
	 
      	
                By:

              	 
      
	 
      	 
      	
                Name:

              	 
      
	 
      	 
      	
                Title:

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