Document:

Exhibit 10.16 Amendment No. 2 to Loan and Security Agreement with Bank of America

     

    
      
        	
                 EXHIBIT
                  10.16(g)

              
	
                AMENDMENT
                  NO. 2 TO

              
	
                 LOAN
                  AND SECURITY
                  AGREEMENT

              

      

    

    

    THIS
      AMENDMENT NO. 2 TO LOAN AND SECURITY AGREEMENT
      (this
      "Amendment"),
      dated
      as of the 21st day of March, 2007, made by and among

    

    BANK
      OF AMERICA, N.A.,
      a
      national banking association (the "Lender");
      

    

    CHAUTAUQUA
      AIRLINES, INC.,
      an
      Indiana corporation, REPUBLIC
      AIRWAYS HOLDINGS INC.,
      a
      Delaware corporation, REPUBLIC
      AIRLINE INC., an
      Indiana corporation, and SHUTTLE
      AMERICA CORPORATION,
      an
      Indiana corporation (the "Borrowers"),

    

    to
      the
      Loan and Security Agreement, dated December 9, 1998, as previously amended
      by
      the Joinder and Consolidated Amendment thereto, dated May 15, 2006 (such Loan
      and Security Agreement, as amended, modified, restated or supplemented from
      time
      to time, the "Loan
      Agreement"),
      between the Borrowers and the Lender. All capitalized terms used herein without
      definition shall have the meanings ascribed to such terms in the Loan
      Agreement.

     

    RECITALS

     

    A. Pursuant
      to the Loan Agreement, the Lender has agreed to make loans and extend credit
      to
      the Borrowers secured by all of the Collateral. As of the date of this
      Amendment, there are no Revolving Loans or Equipment Loans outstanding under
      the
      Loan Agreement and the Term Loan has been paid in full.

    

    B. The
      Borrowers have requested that the Lender extend the term of the Loan Agreement
      to March 31, 2009. The Lender has agreed to such request provided, among other
      things, (i) the Revolving Facility Amount be reduced to the sum of $15 million,
      (ii) the Borrowers agree that they may no longer request, and the Lender shall
      no longer be obligated to make, any Revolving Loans except solely for the
      purposes of paying any Obligations owing to the Lender when due, (ii) the
      obligation of the Lender to make any further Equipment Loans to the Borrowers
      be
      terminated, (iii) the Spare Parts Borrowing Base be reduced, (iv) an additional
      financial covenant be included in the Loan Agreement measuring the liquidity
      of
      the Borrowers, (v) the Borrowers pay to the Lender a quarterly facility fee
      during the term of the extended Loan Agreement, and (vi) the Loan Agreement
      is
      otherwise amended as herein set forth. 

    

    C. To
      accomplish the foregoing, the Borrowers and the Lender have agreed to enter
      into
      this Amendment.

    
 

    
      	
               STATEMENT
                OF AGREEMENT

            

    

     

    NOW,
      THEREFORE, in consideration of the premises and for other good and valuable
      consideration, the receipt and sufficiency of which are hereby expressly
      acknowledged, the Borrowers and the Lender hereby agree as follows:

    

    
      	
               ARTICLE
                I

            
	 
	
               AMENDMENTS
                TO LOAN AGREEMENT

            

    

     

    The
      Loan
      Agreement is hereby amended as follows:

    

    1.1. Definitions.
       Appendix
      A to the Loan Agreement is amended as follows:

    

    (a) The
      definition of "Spare Parts Advance Rate" is deleted in its entirety.

    

    (b) The
      definition of "Spare Parts Borrowing Base" is amended in its entirety to read
      as
      follows:

    

    "Spare
      Parts Borrowing Base
      - at any
      date of determination thereof, the sum of the following:

    

    (i) the
      aggregate value at such date of those Eligible Spare Parts consisting of ERJ
      Spare Parts which are Rotables times thirty percent (30%); plus
      

    

    (ii) the
      aggregate value at such date of those Eligible Spare Parts consisting of ERJ
      Spare Parts which are not Rotables times fifteen percent (15%),

    

    in
      each
      case with value calculated on the basis of the lower of (1) net book value,
      as
      calculated in accordance with GAAP, or (2) appraised orderly liquidation value
      based upon the Lender's most recent Spare Parts Collateral
      Appraisal."

    

    (c) The
      definition of "Revolver Facility Amount" is amended in its entirety to read
      as
      follows:

    

    "Revolver
      Facility Amount
      - At any
      date of determination thereof, the sum of $15,000,000, as such amount may be
      reduced by Borrower pursuant to Section 1.4 of the Agreement." 

    

    1.2. Credit
      Facility.
      Section
      1, Credit
      Facility,
      is
      amended as follows:

    

    (a) The
      first
      un-numbered paragraph is amended by deleting the figure "25,400,000" and by
      substituting in lieu thereof the figure "15,000,000".

    

    (b) Section
      1.1.1, Revolver
      Loans,
      is
      amended by adding the following sentence at the end thereof:

    

    "Notwithstanding
      any term or provision of this Agreement to the contrary, Borrower shall not
      request, and Lender shall not be obligated to make, any Revolver Loan to
      Borrower under this Agreement except a Revolver Loan that is deemed requested
      pursuant to Section 3.1.1(ii) of this Agreement that is used solely and
      exclusively for the purposes of paying an Obligation owing to Lender when
      due."

    

    (c) Sections
      1.1.2, Term
      Loan,
      and
      1.1.3, Equipment
      Loans,
      are
      each deleted in their entirety.

    

    1.3. Letters
      of Credit.
      Section
      1.2.1 is amended in its entirety to read as follows:

    

    "1.2.1 Issuance
      of Letters of Credit and Letter of Credit Guaranties.
      Lender
      agrees, for so long as no Default or Event of Default exists and subject to
      the
      provisions of Section 10 below, to issue Letters of Credit and Letter of Credit
      Guaranties, as requested by Borrower, provided that (a) the Letter of Credit
      Amount at any time shall not exceed the Revolver Facility Amount and (b) without
      Lender's consent in each instance, no Letter of Credit or Letter of Credit
      Guaranty may have an expiration date that is after the last day of the Original
      Term. Any amounts paid by Lender under any Letter of Credit Guaranty or in
      connection with any Letter of Credit shall be treated as Revolver Loans, shall
      be secured by all of the Collateral and shall bear interest and be payable
      at
      the same rate and in the same manner as the Revolver Loans."

    

    1.4. Use
      of
      Proceeds of Revolver Loans.
      Section
      1.3 is amended in its entirety to read as follows:

    

    "1.3 Use
      of
      Proceeds of Revolver Loans.
      Borrower shall use the proceeds of each Revolver Loan solely and exclusively
      for
      the purposes of paying an Obligation owing to Lender when due."

    

    1.5. Facility

      Fee.
      A new
      Section 2.2.6 is added as follows:

    

    "2.2.6 Facility
      Fee.
      On the
      first day of each calendar quarter, commencing on April 1, 2007 and continuing
      on the first day of each calendar quarter thereafter for so long as this
      Agreement is in effect, Borrower shall pay to Lender a quarterly facility fee
      of
      $15,000. Each installment of the facility fee shall be deemed fully earned
      when
      due and non-refundable once paid."

    

    1.6 Payment
      of Principal of Revolver Loans.
      Section
      4.2 is amended in its entirety to read as follows:

    

    "4.2 Payment
      of Principal of Revolver Loans.
      Any
      Revolver Loans made by Lender pursuant to this Agreement shall be paid by
      Borrower to Lender immediately upon the earlier of (a) one (1) Business Day
      after Lender's making thereof or (b) the termination of this Agreement by
      Borrower or Lender pursuant to Section 5 hereof."

    

    1.7. Mandatory
      Prepayments and Optional Prepayments.
      Sections 4.5 and 4.6 are each deleted in their entirety and in lieu thereof
      is
      substituted the phrase "RESERVED". 

    

    1.8. Term
      of Loan Agreement.
      Section
      5.2 is amended in its entirety to read as follows:

    

    "5.1 Term
      of Agreement.
      Subject
      to Lender's right to cease making Loans to Borrower during the existence of
      any
      Default or Event of Default, this Agreement shall be in effect for a period
      from
      the date of this Agreement until March 31, 2009 (the "Original Term"), unless
      terminated as provided in Section 5.2 hereof."

    

    1.9. Financial
      Covenants.
      Section
      9.3 is amended by adding an additional Section 9.3.3, Liquidity,
      as
      follows:

    

    "9.3.3 Liquidity.
      Borrower and its Subsidiaries shall maintain at all times unrestricted cash
      and
      Cash Equivalents of not less than $100,000,000."

    

    1.10. Conditions
      to Equipment Loans. Section 10.2 of the Loan Agreement is deleted in its
      entirety and in lieu thereof is substituted the phrase "RESERVED". 

    

    1.11. Compliance
      Certificate.
      Exhibit
      D attached to the Loan Agreement is deleted and in lieu thereof is substituted
      Exhibit D attached to this Amendment.

    

    1.12. Term
      Loan and Equipment Loans.
      All
      references in the Loan Agreement to the Term Loan and the Equipment Loans are
      deleted. 

     

     

    
      	
              ARTICLE
                II

            
	 
	
               REPRESENTATIONS
                AND WARRANTIES OF
                BORROWERS

            

    

     

    The
      Borrowers hereby jointly and severally represent and warrant to the Lender
      that
      as of the date hereof:

    

    2.1. Corporate
      Power and Authority.
      The
      execution and delivery by the Borrowers and the performance by them of the
      transactions herein contemplated: (i) are and will be within their respective
      powers; (ii) have been authorized by all necessary corporate action; and (iii)
      do not and will not (i) require any consent or approval of the shareholders
      of
      the Borrowers which has not been obtained; (ii) contravene any Borrower's or
      any
      of its respective Subsidiaries' charter, articles or certificate of
      incorporation or by-laws; (iii) violate, or cause any Borrower or any of its
      respective Subsidiaries to be in default under, any provision of any law, rule,
      regulation, order, writ, judgment, injunction, decree, determination or award
      in
      effect having applicability to such Borrower or any of its respective
      Subsidiaries; (iv) result in a breach of or constitute a default under any
      indenture or loan or credit agreement or any other agreement, lease or
      instrument to which any Borrower or any of its respective Subsidiaries is a
      party or by which it or its respective Properties may be bound or affected
      that
      may reasonably be expected to have a Material Adverse Effect; or (v) result
      in,
      or require, the creation or imposition of any Lien (other than Permitted Liens)
      upon or with respect to any of the Properties now owned or hereafter acquired
      by
      any Borrower or any of its respective Subsidi-aries.

    

    2.2. Compliance
      with the Loan Agreement and Other Loan Documents.
      Each
      Borrower is in compliance with all of the terms and provisions set forth in
      the
      Loan Agreement as amended hereby and in the other Loan Documents to be observed
      or performed by such Borrower, except where the failure of such Borrower to
      comply has been waived in writing by the Lender.

    

    2.3. Representations
      in Loan Agreement and other Loan Documents.
      The
      representations and warranties of the Borrowers set forth in the Loan Agreement
      as amended hereby and the other Loan Documents are true and correct in all
      material respects as of the date hereof except to the extent that such
      representations and warranties relate solely to or are specifically expressed
      as
      of a particular date or period which is past or expired as of the date
      hereof.

    

    2.4. No
      Event of Default.
      No
      Default or Event of Default exists.

    

    ARTICLE
      III

    

    MODIFICATION
      OF LOAN DOCUMENTS; 

    RELEASE
      OF CLAIMS BY BORROWERS

    

    3.1. Loan
      Documents.
      The
      Loan Agreement and each of the other Loan Documents are amended to provide
      that
      any reference to the Loan Agreement in the Loan Agreement or any of the other
      Loan Documents shall mean the Loan Agreement as amended by this Amendment,
      and
      as it is further amended, restated, supplemented or modified from time to
      time.

    

    3.2. Release
      of Claims.
      To
      induce the Lender to enter into this Amendment, and in consideration thereof,
      each Borrower hereby releases, acquits and forever discharges the Lender and
      the
      Lender's officers, directors, agents, employees, successors and assigns, from
      all liabilities, claims, demands, actions or causes of action of any kind (if
      any there be), whether absolute or contingent, due or to become due, disputed
      or
      undisputed, at law or in equity, that the Borrowers or any of them now has
      or
      ever had against the Lender arising under or in connection with the Loan
      Agreement, any of the other Loan Documents or otherwise.

    

    ARTICLE
      IV

    

    GENERAL

    

    4.1. Full
      Force and Effect.
      As
      expressly amended hereby, the Loan Agreement shall continue in full force and
      effect in accordance with the provisions thereof. As used in the Loan Agreement,
      "hereinafter", "hereto", "hereof" or words of similar import, shall, unless
      the
      context otherwise requires, mean the Loan Agreement as amended by this
      Amendment.

    

    4.2 Applicable
      Law.
      This
      Amendment shall be governed by and construed in accordance with the internal
      laws and judicial decisions of the State of North Carolina.

    

    4.3 Counterparts.
      This
      Amendment may be executed in one or more counterparts, each of which shall
      constitute an original, but all of which when taken together shall constitute
      but one and the same instrument.

    

    4.4 Expenses.
      The
      Borrower shall reimburse the Lender for all reasonable legal fees and expenses
      incurred by the Lender in connection with the preparation, negotiation,
      execution and delivery of this Amendment and all other agreements and documents
      or contemplated hereby.

    

    4.5. Headings.
      The
      headings in this Amendment are for the purpose of reference only and shall
      not
      affect the construction of this Amendment.

    

    4.6 Waiver
      of Jury Trial.
      TO THE
      FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE EXISTING BORROWER, THE JOINING
      BORROWERS AND THE LENDER EACH WAIVES THE RIGHT TO TRIAL BY JURY IN ANY ACTION,
      SUIT, PROCEEDING OR COUNTERCLAIM OF ANY KIND ARISING OUT OF OR RELATED TO THIS
      AMENDMENT, THE LOAN AGREEMENT OR THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS
      RELATED HERETO OR THERETO.

    

    

    [Signatures
      Begin on the Next Page]

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
      and delivered on the date first above written.

     

     

    
      	 	Borrowers:

    

    
      	 	 	 
	 	CHAUTAUQUA
              AIRLINES, INC.
	 
 	 
 	 
 
	 	By:  	/s/ Robert
              H.
              Cooper
	 	
              

            
	 	Title: EVP
              & CFO

 

      	 	 	 
	 	REPUBLIC
              AIRWAYS HOLDINGS INC.
	 
 	 
 	 
 
	 	By:  	/s/ Robert
              H.
              Cooper
	 	
              

            
	 	Title: EVP
              & CFO

    

    

    
      	 	 	 
	 	REPUBLIC
              AIRLINE INC.
	 
 	 
 	 
 
	 	By:  	/s/ Robert
              H.
              Cooper
	 	
              

            
	 	Title: EVP
              & CFO

    
      	 	 	 
	 	SHUTTLE
              AMERICA CORPORATION
	 
 	 
 	 
 
	 	By:  	/s/ Robert
              H.
              Cooper
	 	
              

            
	 	Title: EVP
              & CFO

    

     

    

    
      	 	Lender:

    

    
      	 	 	 
	 	BANK
              OF
              AMERICA, N.A.
	 	 (successor
              by assignment to Fleet
              Capital Corporation)
	 
 	 
 	 
	 	By:  	/s/ Bob
              Walker
	 	
              

            
	 	Title:
              SVP

    

     

    

     

    

    

    

     

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      D

    

    COMPLIANCE
      CERTIFICATE

    

    [Letterhead
      of Borrower]

    

    

    

    

    __________________,
      20__

    

    

    Bank
      of
      America, N.A.

    300
      Galleria Parkway, N.W., Suite 800 

    Atlanta,
      Georgia 30339

    Attention:
      Southeast Loan Administration

    

    Ladies
      and Gentlemen:

    

    The
      undersigned, the chief financial officer of Republic Airlines Holdings Inc.,
      a
      Delaware corporation and its Subsidiaries (individually and collectively,
      "Borrower"), gives this certificate to Bank of America, N.A. ("Lender") in
      accordance with the require-ments of Section 9.1.3 of that certain Loan and
      Security Agreement dated December 9, 1998, between Borrower and Lender (as
      amended from time to time, the "Loan Agreement"). Capitalized terms used in
      this
      Certificate, unless otherwise defined herein, shall have the meanings ascribed
      to them in the Loan Agreement.

    

    1. Based
      upon my review of the Consolidated balance sheets and statements of income
      of
      Borrower and its Subsidiaries for the Testing
      Period ending __________________, 19__, copies of which are attached hereto,
      I
      hereby certify that:

    

    (a) The
      Consolidated Fixed Charges Coverage Ratio for such Testing Period is ____ to
      1.0;  

    

    (b) The
      Consolidated Leverage Ratio as of the end of such Testing Period is _____ to
      1;
      and

    

    (c) The
      amount of unrestricted cash and Cash Equivalents as of the end of such Testing
      Period is $__________________. 

    

    2. No
      Default exists on the date hereof, other than: ________________
      __________________________________________________ [if
      none,
      so state];
      and

    

    3. No
      Event
      of Default exists on the date hereof, other than
      ____________________________________________________________ [if
      none,
      so state].

    

     

    REPUBLIC
      AIRWAYS HOLDINGS INC.  

    CHAUTAUQUA
      AIRLINES, INC.

    REPUBLIC
      AIRLINE INC.

    SHUTTLE
      AMERICA CORPORATION 

    ("Borrower")

    

    

    By:
      ____________________________________

    Chief
      Financial OfficerExhibit 10.39 Amendment No. 18 to Purchase Agreement DCT-014/2004 between Embraer
      and Republic Airline

     

    
      
        	
                EXHIBIT
                  10.39(r)

              
	
                CONFIDENTIAL
                  TREATMENT

              
	
                REQUESTED
                  PURSUANT TO RULE 24b-2

              
	
                 

              
	
                Certain
                  portions of this exhibit have been omitted pursuant to a request
                  for
                  confidential treatment under Rule 24b-2 of the Securities Exchange
                  Act of
                  1934. The omitted materials have been filed separately with the
                  Securities
                  and Exchange
                  Commission.

              

      

    

    
 

    AMENDMENT
      No. 18 TO PURCHASE AGREEMENT DCT-014/2004

    

    

    This
      Amendment No. 18 to Purchase Agreement DCT-014/2004, dated as of January 12,
      2007 (“Amendment No. 18”) relates to the Purchase Agreement DCT-014/2004 (the
“Purchase Agreement”) between Embraer - Empresa Brasileira de Aeronáutica S.A.
      (“Embraer”) and Republic Airline Inc. (“Buyer”) dated March 19, 2004 as amended
      from time to time (collectively referred to herein as “Agreement”). This
      Amendment No. 18 is between Embraer and Buyer, collectively referred to herein
      as the “Parties”.

    

    This
      Amendment No. 18 sets forth additional agreements between Embraer and Buyer
      relative *** Buyer’s exercise of an assigned option to purchase eight (8)
      Embraer 175 model aircraft.

    

    Except
      as
      otherwise provided for herein all terms of the Purchase Agreement shall remain
      in full force and effect. All capitalized terms used in this Amendment No.
      18,
      which are not defined herein shall have the meaning given in the Purchase
      Agreement. In the event of any conflict between this Amendment No. 18 and the
      Purchase Agreement the terms, conditions and provisions of this Amendment No.
      18
      shall control. 

    

    WHEREAS, 

    

    In
      connection with an amendment to the jet service agreement between US Airways,
      Inc., and Buyer, US Airways Group, Inc. (“US Airways Group”) desires to assign
      to Buyer, and Buyer desires to accept the assignment of, options to purchase
      eight (8) EMBRAER 175 model aircraft (the “Eight US Airways 175 Option
      Aircraft”) held by US Airways Group pursuant to the Amended and Restated
      Purchase Agreement DCT-021/03 between US Airways Group and Embraer (as amended,
      the “US Airways Purchase Agreement”);

    

    Embraer
      is willing to consent to the assignment of such options pursuant to the Second
      Option Aircraft Conversion, Purchase Right Assignment and Manufacturer’s Consent
      dated as of the date hereof, among US Airways Group, Buyer and Embraer (the
“US
      Airways 175 Assignment”), ***; and

    

    In
      connection with the Parties’ agreement above mentioned, the Parties have now
      agreed to amend the Purchase Agreement as provided for below:

    

    NOW,
      THEREFORE, for good and valuable consideration which is hereby acknowledged
      Embraer and Buyer hereby agree as follows:

     

    
      	 1.	 Firm
              Aircraft

    

    
      	 	
               

            

    

     

    
      	
              1.1

            	
              Buyer
                hereby exercises the option to purchase the Eight US Airways 175
                Option
                Aircraft. ***

            

    

    

    
      	
              1.2

            	
              The
                table containing the delivery schedule in Article 5.1 of the Purchase
                Agreement is hereby deleted in its entirely and replaced with the
                following:

            

    

    

    
      	
              Firm
                A/C

            	
              Delivery
                Month

            	
              ***

            	
              ***

            	
              Firm
                A/C

            	
              Delivery
                Month

            	
              ***

            	
              ***

            
	
              49

            	
              Jan
                07

            	
              ***

            	
              ***

            	
              68

            	
              ***

            	
              ***

            	
              ***

            
	
              50

            	
              ***

            	
              ***

            	
              ***

            	
              69

            	
              ***

            	
              ***

            	
              ***

            
	
              51

            	
              ***

            	
              ***

            	
              ***

            	
              70

            	
              ***

            	
              ***

            	
              ***

            
	
              52

            	
              ***

            	
              ***

            	
              ***

            	
              71

            	
              ***

            	
              ***

            	
              ***

            
	
              53

            	
              ***

            	
              ***

            	
              ***

            	
              72

            	
              ***

            	
              ***

            	
              ***

            
	
              54

            	
              ***

            	
              ***

            	
              ***

            	
              73

            	
              ***

            	
              ***

            	
              ***

            
	
              55

            	
              ***

            	
              ***

            	
              ***

            	
              74

            	
              ***

            	
              ***

            	
              ***

            
	
              56

            	
              ***

            	
              ***

            	
              ***

            	
              75

            	
              ***

            	
              ***

            	
              ***

            
	
              57

            	
              ***

            	
              ***

            	
              ***

            	
              76

            	
              ***

            	
              ***

            	
              ***

            
	
              58

            	
              ***

            	
              ***

            	
              ***

            	
              77

            	
              ***

            	
              ***

            	
              ***

            
	
              59

            	
              ***

            	
              ***

            	
              ***

            	
              78

            	
              ***

            	
              ***

            	
              ***

            
	
              60

            	
              ***

            	
              ***

            	
              ***

            	
              79

            	
              ***

            	
              ***

            	
              ***

            
	
              61

            	
              ***

            	
              ***

            	
              ***

            	
              80

            	
              ***

            	
              ***

            	
              ***

            
	
              62

            	
              ***

            	
              ***

            	
              ***

            	
              81

            	
              ***

            	
              ***

            	
              ***

            
	
              63

            	
              ***

            	
              ***

            	
              ***

            	
              82

            	
              ***

            	
              ***

            	
              ***

            
	
              64

            	
              ***

            	
              ***

            	
              ***

            	
              83

            	
              ***

            	
              ***

            	
              ***

            
	
              65

            	
              ***

            	
              ***

            	
              ***

            	
              84

            	
              ***

            	
              ***

            	
              ***

            
	
              66

            	
              ***

            	
              ***

            	
              ***

            	
              85

            	
              ***

            	
              ***

            	
              ***

            
	
              67

            	
              ***

            	
              ***

            	
              ***

            	
              86

            	
              Jul
                08

            	
              ***

            	
              ***

            

    

    _____________

    ***
      Confidential

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Note:
      The
      first 48 EMBRAER 170 Aircraft (Aircraft #1 to # 48) were already
      delivered.

    

    
      
        	2.	Attachment
                "B": *** is hereby***.
	 	 
	3.	
                Effect
                  of US Airways 175
                  Assignment:

              

      

    

     

    
      	
              3.1

            	
              Buyer’s
                sole rights against Embraer and obligations to Embraer with respect
                to the
                aircraft positions that are the subject the US Airways 175 Assignment
                shall be its rights and obligations with respect to the eight (8)
                firm
                order EMBRAER 175 Aircraft ***.

            

    

     

    
      	
              3.2

            	
              Buyer
                agrees that it has no rights ***
                in
                connection with the US Airways 175
                Assignment.

            

    

    

    All
      other
      provisions of the Agreement which have not been specifically amended or modified
      by this Amendment No. 18 shall remain valid in full force and effect without
      any
      change.

    

    

    [Remainder
      of page intentionally left in blank]

    _____________

    ***
      Confidential

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    IN
      WITNESS WHEREOF, EMBRAER and BUYER, by their duly authorized officers, have
      entered into and executed this Amendment No. 18 to Purchase Agreement to be
      effective as of the date first written above.

    

    
      	EMBRAER
              - Empresa Brasileira de Aeronáutica
              S.A.	 	 	Republic
              Airline Inc.
	 	 	 	 
	By
              /s/ Satoshi
              Yokota	 	 	By
              /s/ Bryan
              Bedford
	
              

            	 	 	
              

            
	Name:
              Satoshi
              Yokota
Title: Executive Vice President Engineering and
              Development
	 	 	Name:
              Bryan
              Bedford
Title: President

    
      	 	 	 	 
	By
              /s/ José
              Luis D.
              Molina	 	 	Date:
              January 12,
              2007
	
              

            	 	 	Place:
              Indianapolis
	
              Name:
                José
                Luis D. Molina
Title: Director of Contracts Airline Market

              Date: January 12th, 2007

              Place: Sao José
                Dos Campos,
                SP, Brazil

            	 	 	

    

     

    
      	 	 	 	 
	Witness:
              /s/
              Carlos Martins Dutra	 	 	Witness:
              /s/
              Lars-Erik Arnell
	
              

            	 	 	
              

            
	Name:
              Carlos
              Martins Dutra	 	 	Name:
              Lars-Erik
              Arnell

    

    

    Acknowledged
      and agreed by Republic Airways Holdings Inc. with respect to all terms of this
      Amendment No. 18 and all previous amendments, in its capacity as “Guarantor”
pursuant to the Guaranty by it to Embraer dated March 19, 2004.

    
 

    Republic
      Airways Holdings Inc.

    

      	 	 	 	 
	By
              /s/ Bryan
              Bedford	 	 	 
	
              

            	 	 	
            
	Name:
              Bryan
              Bedford
Title: President	 	 	 

    

     

    
      	 	 	 	 
	By
              /s/ Lars-Erik Arnell	 	 	 
	
              

            	 	 	
            
	Name:
              Lars-Erik Arnell
Title: Vice President of Corporate
              Development	 	 	 

    

    Date:
      January 12, 2007

    Place:
      Indianapolis

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