Document:

Exhibit

10.29

 

AMENDED AND RESTATED

GUARANTY

 

This AMENDED AND RESTATED GUARANTY (this “Guaranty”)

dated as of December 13, 2002 is made by WILLIS LEASE FINANCE CORPORATION, a

Delaware corporation (together with its successors and assigns, the

“Guarantor”), in favor of BARCLAYS BANK PLC, a public limited company organized

under the law of England and Wales, in its capacity as Deal Agent (as defined

below) and as a Class B Purchaser (as defined below), and FORTIS BANK

(NEDERLAND) N.V., in its capacity as a Class B Purchaser (as defined below).

 

RECITALS

 

WHEREAS, Willis Engine Funding LLC (“Issuer”) and The

Bank of New York, as Indenture Trustee (the “Indenture Trustee”), are party to

the Indenture dated as of September 12, 2002 as supplemented by the Series 2002-1

Supplement dated as of September 12, 2002 between the Issuer and the Indenture

Trustee (as so supplemented, the “Original Indenture”);

 

WHEREAS, in connection with the Original Indenture and

pursuant to the Class B Note Purchase Agreement dated as of September 12, 2002

(the “Original Class B Note Purchase Agreement”) among the Issuer, the

Guarantor, Barclays Bank PLC (together with its successors and assigns, in such

capacity, an “Original Class B Purchaser”), Fortis Bank (Nederland) N.V.

(together with its successors and assigns, an “Original Class B Purchaser” and

together with Barclays Bank PLC in its capacity as an Original Class B

Purchaser, the “Original Class B Purchasers”) and Barclays Bank PLC, as deal

agent (the “Deal Agent”), the Original Class B Purchasers purchased $20,000,000

aggregate principal amount of notes entitled Willis Engine Funding LLC Secured

Notes, Series 2002-1 Class B (the “Original Class B Notes”);

 

WHEREAS, in order to induce the Original Class B

Purchasers to purchase the Original Class B Notes, the Guarantor executed the

Guaranty dated as of September 12, 2002 (the “Original Guaranty”; and, together

with the Original Indenture, the Original Class B Note Purchase Agreement and

the Original Class B Notes, the “Original Transaction Documents”) for the

benefit of the Deal Agent and the Original Class B Purchasers;

 

WHEREAS, the Indenture Trustee, the Issuer, the

Guarantor, the Original Class B Purchasers and the Deal Agent have agreed to

amend and restate each of the Original Transaction Documents (the Original

Indenture as so amended and restated and as hereafter amended, restated,

supplemented or modified, the “Restated Indenture”);

 

WHEREAS, in connection with the amendment and

restatement of the Original Transaction Documents, the Issuer, the Guarantor,

Barclays Bank PLC (together with its successors and assigns, in such capacity,

the “Subclass B-2 Purchaser”; and, together with the Original Class B

Purchasers, the “Class B Purchasers”) and the Deal Agent have entered into the

Subclass B-2 Note Purchase Agreement dated as of even date herewith (the

“Subclass B-2 Note Purchase Agreement”) pursuant to which the Issuer has agreed

to sell and the Subclass B-2 Purchaser has agreed to purchase up to $5,000,000

aggregate principal amount of notes entitled Willis Engine Funding LLC Secured

Notes Series 2002-1 Subclass B-2 (the “Subclass B-2

 

 

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Notes”; and, together with the Original Class B Notes,

as the same are amended and restated, the “Class B Notes”);

 

WHEREAS, it is a condition to the effectiveness the

Subclass B-2 Note Purchase Agreement and of the amendment and restatement of

the Original Transaction Documents that the Guarantor amend and restate the

Original Guaranty in the form provided herein; and

 

WHEREAS, Guarantor is the owner of all of the capital

stock of Issuer and will obtain substantial direct and indirect benefit from

the amendment and restatement of the Original Transaction Documents and the

purchase of the Subclass B-2 Notes by the Subclass B-2 Purchaser.

 

NOW, THEREFORE, in consideration of the foregoing

recitals and other good and valuable consideration, the receipt and adequacy of

which is hereby acknowledged, and intending to be legally bound, the parties

hereto do hereby agree as follows:

 

AGREEMENT

 

Section

1.                                          Definitions.  Capitalized

terms used herein shall have the following meanings:

 

Guaranty

Amount:  As of any date of determination, an amount

equal to the excess of (A) the lesser of (i) the Class B Note Principal Balance

as of such date and (ii) 10% of the Outstanding Obligations as of such date

over (B) the Guaranty Deduction Amount as of such date.

 

Guaranty

Deduction Amount:  As of any date of determination, an amount

equal to the sum of (a) any amounts prior to or as of such date paid by

Guarantor pursuant to the Indemnification Agreement and (b) any amounts prior

to or as of such date paid by Guarantor to lessees, sublessees or other Persons

pursuant to the Guarantor’s obligations as surety with respect to the

obligations of Issuer or any Owner Trustee pursuant to any Lease.

 

Indebtedness: 

With respect to any Person means, without duplication, (a) any

obligation of such Person for borrowed money, including, without limitation,

(i) any obligation incurred through the issuance and sale of bonds, debentures,

notes or other similar debt instruments, and (ii) any obligation for borrowed

money which is non-recourse to the credit of such Person but which is secured

by any asset of such Person, (b) any obligation of such Person on account of

deposits or advances, (c) any obligation of such Person for the deferred

purchase price of any property or services, except accounts payable arising in

the ordinary course of such Person’s business, (d) any obligation of such

Person as lessee under a capital lease, (e) any Indebtedness of another secured

by a Lien on any asset of such Person, whether or not such Indebtedness is

assumed by such Person and (f) any obligation in respect of interest rate or

foreign exchange hedging agreements.

 

Indemnification

Agreement:  The Indemnification Agreement dated as of

September 12, 2002 between the Guarantor and the Indenture Trustee.

 

2

 

All other capitalized terms not otherwise defined

herein have the meanings set forth in the Restated Indenture.

 

Section

2.                                          Acknowledgment; Guaranty.  Guarantor

hereby unconditionally, absolutely and irrevocably guarantees to the Class B

Purchasers, up to an amount not exceeding the Guaranty Amount (items (i)

through (iii) collectively, the “Guaranteed Indebtedness”): (i) the full and

prompt payment of the principal balance of the Class B Notes and the

indebtedness represented thereby as and when due or at such earlier date as may

result from the acceleration thereof as a result of the occurrence of an Early

Amortization Event or an Event of Default under the terms of the Indenture;

(ii) the full and prompt payment of the interest on the outstanding principal

balance of the Class B Notes as and when due or at such earlier date as may

result from the acceleration thereof following an Early Amortization Event or

an Event of Default under the terms of the Indenture; and (iii) the full and

prompt payment of an amount equal to each and all of the payments and other

sums, when and as the same shall become due, required to be paid by the Issuer

to the Class B Purchasers under the terms of the Indenture.

 

Section

3.                                          Guaranty Unconditional.  The

obligations of Guarantor hereunder are irrevocable, absolute and unconditional,

irrespective of the value, genuineness, regularity, validity or enforceability

of the Guaranteed Indebtedness or any other circumstances which might otherwise

constitute a legal or equitable discharge or defense of a surety or guarantor.  No setoff, abatement, recoupment,

counterclaim, reduction or diminution of an obligation, or any defense of any

kind or nature (other than performance by Guarantor of its obligations

hereunder or the payment in full of the Guaranteed Indebtedness), which Guarantor

has or may have with respect to a claim under this Guaranty, shall be available

hereunder to Guarantor against the Class B Purchasers.

 

Section

4.                                          Payments.  All payments

to be made by Guarantor to or for the benefit of the Class B Purchasers

hereunder shall be made, in accordance with the written direction of each of

the Class B Purchasers, by wire transfer in lawful money of the United States

of America, in immediately available funds, and shall be accompanied by a

notice from Guarantor stating that such payments are made under this Guaranty.

 

Section

5.                                          Representations, Warranties and Covenants.  Guarantor hereby represents and warrants to the Class

B Purchasers that:

 

(a)                                  The Guarantor is a corporation duly

organized, validly existing and in good standing under the laws of the state of

its incorporation, has full corporate power to own its assets and to engage in

the activities in which it is now engaged and is duly qualified and in good

standing under the laws of each jurisdiction where the conduct of its

activities requires such qualification, if the failure to so qualify would have

a material adverse effect on the condition (financial or otherwise) of the

Guarantor;

 

(b)                                 The Guarantor has full power, authority

and legal right to execute, deliver and perform this Guaranty and has taken all

necessary action to authorize the execution, delivery and performance by it of

this Guaranty.  No consent, license,

permit, approval or authorization of, exemption by, notice or report to, or

registration, filing or declaration with, any Governmental Authority is

required for the execution, delivery and performance by the Guarantor of this

 

3

 

Guaranty which has not been obtained, made, given or

accomplished. This Guaranty has been duly executed and delivered by a duly

authorized representative of the Guarantor, and this Guaranty constitutes the

valid, legal and binding obligations of the Guarantor, enforceable against the

Guarantor in accordance with its respective terms, except as such enforcement

may be limited by (A) bankruptcy, insolvency, reorganization, moratorium or

other similar laws affecting creditors’ rights generally and (B) general

principles of equity (regardless of whether such enforcement is considered in a

proceeding in equity or at law);

 

(c)                                  The execution, delivery and performance

by the Guarantor of this Guaranty will not violate any provision of any law or

regulation applicable to the Guarantor, or of any order, judgment, award or

decree of any court, arbitrator or Governmental Authority applicable to the

Guarantor or the organizational documents of the Guarantor or any mortgage,

indenture, lease, contract or other agreement, instrument or undertaking to

which the Guarantor is a party or by which the Guarantor or any of its assets

may be bound, and will not result in, or require, the creation or imposition of

any lien on any of its property, assets or revenues pursuant to the provisions

of any such mortgage, indenture, lease, contract or other agreements,

instrument or undertaking;

 

(d)                                 No litigation, investigation or

administrative proceeding of or before any court, arbitrator or governmental

authority is pending or, to the Guarantor’s knowledge, threatened against the

Guarantor which if decided adversely to the Guarantor, would materially affect

the condition (financial or otherwise), business or operations of the

Guarantor, or the ability of the Guarantor to perform its obligations under

this Guaranty;

 

(e)                                  All approvals, authorizations, consents,

orders or other actions of any person, corporation or other organization, or of

any court, governmental agency or body or official, required in connection with

the execution, delivery and performance of this Guaranty by the Guarantor, have

been taken or obtained on or prior to the Effective Date;

 

(f)                                    The financial statements of Guarantor

dated as of December 31, 2001 (audited), a copy of which have been furnished to

the Deal Agent, fairly present the financial position and results of operations

for Guarantor for the dates and periods purported to be covered thereby, all in

accordance with GAAP, and there has been no Material Adverse Change in the

financial position or operations of Guarantor since the date of such financial

statements; and

 

(g)                                 Guarantor is not insolvent as of the

Effective Date and the incurrence of Guarantor’s obligations under this

Guaranty will not cause Guarantor: (i) to become insolvent; (ii) to be left

with unreasonably small capital for any business or transaction in which

Guarantor is presently engaged or plans to be engaged; or (iii) to be unable to

pay its debts as such debts mature.

 

Section

6.                                          Consents.  Guarantor

hereby consents that any or all of the following actions may be taken or things

done without notice to Guarantor and without affecting the liability of

Guarantor under this Guaranty:

 

A.                                   The time for Issuer’s performance of or

compliance with any of the terms of the Guaranteed Indebtedness may be

accelerated (upon an Event of Default), or extended or such

 

4

 

performance or compliance may be waived by the Deal

Agent (including, without limitation, the renewal, extension, acceleration

(upon an Event of Default) or other change in the time of payment, or other

terms of, the Guaranteed Indebtedness, such as an increase or decrease in the

rate of interest thereon); and

 

B.                                     The terms of any of the Guaranteed

Indebtedness or any term or condition in the Indenture may be amended as

provided for therein by the Issuer and Deal Agent, as the case may be, for the

purpose of adding any provisions thereto or changing in any manner the rights

or obligations of Issuer and/or Deal Agent thereunder.

 

Section

7.                                          Due Diligence.  Guarantor

acknowledges that it has, independently of and without reliance on the Deal

Agent, made its own credit analysis of Issuer and performed its own legal

review of this Guaranty, the Indenture, the Contribution and Sale Agreement,

each Class A Note Purchase Agreement, each Class B Note Purchase Agreement and

the Related Documents and all related documents and filings, and Guarantor is

not relying on the Deal Agent with respect to any of the aforesaid items.

Guarantor has established adequate means of obtaining from Issuer on a

continuing basis financial and other information pertaining to Issuer’s

financial condition. Guarantor agrees to keep adequately informed from such

means of any facts, events or circumstances which might in any way affect

Guarantor’s risks hereunder, and Guarantor further agrees that the Deal Agent

shall have no obligation to disclose to Guarantor information or material with

respect to Issuer acquired in the course of the Deal Agent’s relationship with

Issuer.

 

Section

8.                                          Tolling of Statute of Limitations. 

Guarantor agrees that any payment or performance of any of the terms of

the Guaranteed Indebtedness or other acts which tolls any statute of

limitations applicable to the Guaranteed Indebtedness shall also toll the

statute of limitations applicable to Guarantor’s liability under this Guaranty.

 

Section

9.                                          Waiver.  Guarantor hereby expressly

waives diligence, presentment, demand for payment, protest, benefit of any

statute of limitations affecting Issuer’s liability under the Class B Notes or

the Indenture or the enforcement of this Guaranty, discharge due to any

disability of Issuer, any defenses of Issuer to its obligations under the Class

B Notes or the Indenture not arising under the express terms of the Class B

Notes or the Indenture or from a material breach thereof by Deal Agent or a

Class B Purchaser which under the law has the effect of discharging Issuer from

the Guaranteed Indebtedness as to which this Guaranty is sought to be enforced,

the benefit of any act or omission by the Deal Agent or a Class B Purchaser

that directly or indirectly results in or aids the discharge of Issuer from any

of the Guaranteed Indebtedness by operation of law or otherwise, all notices

whatsoever, including, without limitation, notice of acceptance of this

Guaranty and the incurring of the Guaranteed Indebtedness, and any requirement

that the Deal Agent or a Class B Purchaser exhaust any right, power or remedy

or proceed against Issuer, the Collateral or any other guarantor of, or any

other Person liable for, any of the Guaranteed Indebtedness, or any portion thereof.

Guarantor specifically agrees that it will not be necessary or required, and

Guarantor shall not be entitled to require, that Deal Agent or a Class B

Purchaser file suit or proceed to assert or obtain a claim for personal

judgment against Issuer for the Guaranteed Indebtedness, or to make any effort

at collection or enforcement of the Guaranteed Indebtedness from Issuer or file

suit or proceed to obtain or assert a claim for personal judgment against

Guarantor or any other guarantor or other

 

5

 

party liable for the Guaranteed Indebtedness or make

any effort at collection of the Guaranteed Indebtedness from any such party or

exercise or assert any other right or remedy to which the Deal Agent or a Class

B Purchaser is or may be entitled in connection with the Guaranteed

Indebtedness or guaranty relating thereto or assert or file any claim against

the assets of Issuer, before or as a condition of enforcing the liability of

Guarantor under this Guaranty.

 

Section

10.                                   Certain Rights.  In pursuing

their rights under this Guaranty, the Class B Purchasers need not join

Guarantor in any suit against Issuer or join Issuer in any suit against

Guarantor.

 

Section

11.                                   Continuing Guaranty.  This Guaranty

shall be a continuing guaranty and any other guarantors of all or a portion of

the Guaranteed Indebtedness may be released without affecting the liability of

Guarantor hereunder.

 

Section

12.                                   Indemnity.  In addition

to and without limiting or impairing in any manner whatsoever Guarantor’s other

obligations under this Guaranty or any other document executed and delivered by

Guarantor to the Deal Agent or the Class B Purchasers, Guarantor agrees to

indemnify the Deal Agent and the Class B Purchasers from and against any and

all costs, expenses, losses and liabilities relating to claims by any third

parties growing out of or resulting from transactions contemplated by this

Guaranty (including, without limitation, enforcement of this Guaranty).

 

Section

13.                                   Notice.  The Deal Agent shall provide

Guarantor with a copy of any notice of default to Issuer as provided under the

Indenture; provided, however, the failure of Deal Agent to provide such notice

to Guarantor will not exonerate Guarantor of any Guaranteed Indebtedness. All

notices and communications under this Agreement shall be in writing personally

delivered, or sent by facsimile (with subsequent telephone confirmation of

receipt thereof) or sent by overnight courier service at the following

addresses: Guarantor, at its address at Willis Lease Finance Corporation, 2320

Marinship Way, Suite 300, Sausalito, CA 94965; and Deal Agent, at its address

at 200 Park Avenue, New York, New York 10166, Attention: Asset Securitization

Group or, as to each party, at such other address as shall be designated by

such party in a written notice to the other party complying as to delivery with

the terms of this Section 13. Notice shall be effective and deemed received (a)

two days after being delivered to the courier service, if sent by courier, (b)

upon receipt of confirmation of transmission, if sent by telecopy, or (c) when

delivered, if delivered by hand. All such notices and communications shall,

when hand delivered be effective upon delivery, when sent by courier be

effective on the next succeeding Business Day.

 

Section

14.                                   Reinstatement. 

Notwithstanding any provision in the Indenture or the Class B Notes to

the contrary, the liability of Guarantor hereunder shall be reinstated and

revived and the rights of the Class B Purchasers shall continue if and to the

extent that for any reason any payment by or on behalf of Issuer is rescinded

or must be otherwise restored by the Class B Purchasers, whether as a result of

any proceedings in bankruptcy or reorganization or otherwise, all as though

such amount had not been paid.  The

determination as to whether any such payment must be rescinded or restored

shall be made by the Class B Purchasers in their sole discretion; provided,

however, that if the Class B Purchasers choose to contest any such matter at

the request of Guarantor, Guarantor agrees to indemnify and hold harmless the

Class B Purchasers

 

6

 

from all costs and expenses (including, without

limitation, attorneys’ fees) related to such request.

 

Section

15.                                   No Waiver, Amendments, Etc.  No failure on

the part of the Class B Purchasers to exercise, no delay in exercising and no

course of dealing with respect to, any right hereunder shall operate as a

waiver thereof; nor shall any single or partial exercise of any right hereunder

preclude any other or further exercise thereof or the exercise of any other

right. The remedies herein provided are cumulative and not exclusive of any

remedies provided by law.  This Guaranty

may not be amended or modified except by written agreement between the

Guarantor and the Class B Purchasers and no consent or waiver hereunder shall

be valid unless in writing and executed in accordance with the provisions of

this Guaranty.

 

Section

16.                                   Compromise and Settlement.  No

compromise, settlement, release, renewal, extension, indulgence, change in,

waiver or modification of any of the terms of the Guaranteed Indebtedness or

the release of Guarantor or discharge of Issuer or Guarantor from the

performance of any of the terms of the Guaranteed Indebtedness shall release or

discharge Guarantor from this Guaranty.

 

Section

17.                                   Insolvency.  The voluntary

or involuntary liquidation, dissolution, sale or other disposition of all or

substantially all the assets and liabilities, receivership, insolvency,

bankruptcy, assignment for the benefit of creditors, reorganization, or other

proceeding affecting Issuer or Guarantor or the disaffirmance of the Class A

Notes, the Class B Notes or the Indenture, or Guarantor’s obligations hereunder

in any such proceeding shall not release or discharge Guarantor from this

Guaranty.

 

Section

18.                                   Expenses.  In addition

to its guaranty hereunder of the Guaranteed Indebtedness, Guarantor hereby

agrees to pay all costs and expenses, including, without limitation, attorneys’

fees, paid or incurred by the Class B Purchasers in collection or enforcing any

or all of the Guaranty Amount or in connection with the enforcement of this

Guaranty and in which the Class B Purchasers are the prevailing party.

 

Section

19.                                   Entire Agreement.  This Guaranty

and all documents mentioned or contemplated herein constitute and contain the

entire agreement of the parties and supersede any and all prior and

contemporaneous agreements, negotiations, correspondence, understandings and

communications between the parties, whether written or oral, respecting the

subject matter hereof.

 

Section

20.                                   Severability.  If any

provision of this Guaranty is held to be unenforceable for any reason, it shall

be adjusted, if possible, rather than voided in order to achieve the intent of

the parties to the extent possible. In any event, all other provisions of this

Guaranty shall be deemed valid and enforceable to the full extent possible.

 

Section

21.                                   Subordination of Indebtedness.  Any Indebtedness

or other obligation of Issuer now or hereafter held by or owing to Guarantor is

hereby subordinated in time and right of payment to all obligations of Issuer

to the Class B Purchasers; and such Indebtedness of Issuer to Guarantor is

assigned to the Class B Purchasers, as collateral security for this Guaranty

and the Guaranteed Indebtedness, and if the Class B Purchasers so request,

shall be collected, enforced

 

7

 

and received by Guarantor in trust for the Class B

Purchasers, and be paid over to the Class B Purchasers, on account of the

Outstanding Obligations of Issuer to the Class B Purchasers, but without

reducing or affecting in any manner the liability of Guarantor under the other

provisions of this Guaranty. Any notes now or hereafter evidencing such

Indebtedness of Issuer to Guarantor shall be marked with a legend that the same

are subject to this Guaranty and shall be delivered to the Class B

Purchasers.  Guarantor will, and the

Deal Agent is hereby authorized, in the name of Guarantor from time to time, to

execute and file financing statements and continuation statements and execute

such other documents and take such other action as Deal Agent deems necessary

or appropriate to perfect, preserve and enforce its rights hereunder.  Notwithstanding the foregoing, the right of

the Servicer to receive the Servicing Fee and receive reimbursement of Servicer

Advances is not subordinated except as may be provided in Section 3.2 of the

Series 2002-1 Supplement.

 

Section

22.                                   No Petition.  Guarantor

hereby covenants that it will not institute against the Issuer any bankruptcy,

reorganization, arrangement, insolvency or liquidation proceedings, or other

proceedings under any federal or state bankruptcy or similar law, at any time

other than on a date which is at least one year and one day after the last date

on which any Note under any Series was Outstanding.

 

Section

23.                                   Assignment; Governing Law.  This Guaranty

shall be binding upon and inure to the benefit of Guarantor and the Class B

Purchasers and each of their respective successors and assigns, except that

Guarantor shall not have the right to assign its rights hereunder or any

interest herein unless authorized by a writing executed by the Class B

Purchasers. The Guarantor hereby consents (a) to the Class B Purchasers

enforcing their rights and remedies hereunder and/or any other Owner or (b) to

the assignment of all of the Class B Purchasers rights and remedies hereunder

to any subsequent Noteholder or to the trustee under the Indenture. This

Guaranty shall be governed by, and construed in accordance with, the laws of

the State of New York, without regard to the conflicts of laws principles of

such jurisdiction.

 

Section

24.                                   Consent to Jurisdiction.  Guarantor hereby

irrevocably consents to the non-exclusive personal jurisdiction o f the state

and federal courts located in New York County, New York, solely for purposes of

any action, claim or other proceeding arising out of any dispute in connection

with this Guaranty, any rights or obligations hereunder or thereunder or the

performance of such rights and obligations. 

Guarantor hereby irrevocably consents to the service of a summons and

complaint and other process in any action, claim or proceeding brought by the

Class B Purchasers in connection with this Guaranty, any rights or obligations

hereunder or thereunder or the performance of such rights and obligations, on

behalf of itself or its property, in the manner specified in Section 13 above.  Nothing in this Section 24 shall affect the

right of the Class B Purchasers to serve legal process in any other manner

permitted by applicable law or affect the right of the Class B Purchasers to

bring any action or proceeding against Guarantor or its properties in the courts

of any other jurisdictions.

 

Section

25.                                   Termination of Guaranty.  This Guaranty

shall terminate upon payment in full of the Class B Notes and fulfillment of

all other Guaranteed Indebtedness in full; provided, however, this Section

shall not affect the obligations of Guarantor pursuant to Section 14 of this

Guaranty.

 

8

 

Section

26.                                   Waiver of Jury Trial. 

THE GUARANTOR AND THE CLASS B PURCHASERS HEREBY IRREVOCABLY WAIVE THEIR

RESPECTIVE RIGHTS TO A JURY TRIAL WITH RESPECT TO ANY ACTION, CLAIM OR OTHER

PROCEEDING ARISING OUT OF ANY DISPUTE IN CONNECTION WITH THIS GUARANTY, ANY

RIGHTS OR OBLIGATIONS HEREUNDER OR THEREUNDER OR THE PERFORMANCE OF SUCH RIGHTS

AND OBLIGATIONS.

 

Section

27.                                   Waiver of Specific Rights. GUARANTOR HEREBY IRREVOCABLY

WAIVES AND RELEASES ANY AND ALL RIGHTS IT MAY HAVE AT ANY TIME (WHETHER ARISING

DIRECTLY OR INDIRECTLY, BY OPERATION OF LAW, CONTRACT OR OTHERWISE) TO REQUIRE

THE MARSHALING OF ANY ASSETS OF ISSUER, WHICH RIGHT OF MARSHALING MIGHT

OTHERWISE ARISE FROM ANY SUCH PAYMENTS MADE OR OBLIGATIONS PERFORMED.

 

Section

28.                                   Subordination of Specific Rights. 

Guarantor hereby agrees that for so long as the Guaranteed Indebtedness

is outstanding, it shall not take any action to enforce any claim, right or

remedy which Guarantor may have against Issuer that arises hereunder, including

without limitation any claim, remedy or right of subrogation, reimbursement,

exoneration, or indemnification. Guarantor further agrees that any claim, right

or remedy which Guarantor may have against Issuer that arises hereunder,

including without limitation any claim, remedy or right of subrogation,

reimbursement, exoneration, or indemnification, shall be subordinated to the

prior payment of the Guaranteed Indebtedness.

 

Section

29.                                   Transfer.  In the event

of any transfer of any Class B Note, all rights of the transferor of such Class

B Note under this Guaranty in respect of such Class B Note shall, once the

transferee of such Class B Note has become the registered Holder of such Class

B Note, shall be assigned to, and shall be enforceable by, such transferee.

 

Section

30.                                   General Interpretive Principles. 

For purposes of this Guaranty except as otherwise expressly provided or

unless the context otherwise requires:

 

A.                                   the terms defined in this Guaranty have

the meanings assigned to them in this Guaranty and include the plural as well

as the singular, and the use of any gender herein shall be deemed to include

the other gender;

 

B.                                     accounting terms not otherwise defined

herein have the meanings assigned to them in accordance with Generally Accepted

Accounting Principles as in effect on the date hereof;

 

C.                                     references herein to “Sections”,

“Subsections”, “paragraphs”, and other subdivisions without reference to a

document are to designated Sections, Subsections, paragraphs and other

subdivisions of this Guaranty;

 

D.                                    a reference to a Subsection without

further reference to a Section is a reference to such Subsection as contained

in the same Section in which the reference appears, and this rule shall also

apply to paragraphs and other subdivisions;

 

9

 

E.                                      the words “herein”, “hereof’, “hereunder”

and other words of similar import refer to this Guaranty as a whole and not to

any particular provision; and

 

F.                                      the term “include” or “including” shall

mean without limitation by reason of enumeration.

 

Section

31.                                   Effect on Original

Guaranty.  The Issuer and each Class B Purchaser hereby

agree that as of the Effective Date the terms and provisions of the Original

Guaranty shall be and hereby are amended and restated in their entirety by the

terms and provisions of this Guaranty. 

Except as expressly set forth herein, this Guaranty shall not limit,

impair or otherwise affect the rights or remedies of any of the Class B

Purchasers under the Original Guaranty, and shall not amend, modify or

otherwise affect any of the terms and conditions contained in the Original

Guaranty, all of which are hereby ratified and confirmed and shall continue in

full force and effect.

 

[The Remainder of this

Page is Intentionally left Blank]

 

10

 

IN

WITNESS WHEREOF,

Guarantor has executed and delivered this Guaranty as of the date first written

above.

 

 

	

   

  	

  WILLIS LEASE FINANCE CORPORATION

  as Guarantor

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

  By

  	

   

  	

  /s/ DONALD A. NUNEMAKER

  	

   

  
	

   

  	

   

  	

   

  	

  Name:

  	

  Donald A. Nunemaker

  
	

   

  	

   

  	

   

  	

  Title:

  	

  Executive Vice President

  Chief Operating Officer

  
							

 

	

  ACCEPTED AND AGREED TO:

  
	

   

  	

   

  	

   

  
	

  BARCLAYS

  BANK PLC

  as Deal Agent and as a Class B Purchaser

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  By:

  	

   

  	

  /s/ PIERRE DULEYRIE

  	

   

  
	

   

  	

   

  	

  Name:  Pierre

  Duleyrie

  	

   

  
	

   

  	

   

  	

  Title:   

  Director

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  FORTIS

  BANK (NEDERLAND) N.V.

  as a Class B Purchaser

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  By:

  	

   

  	

  /s/ M.H. SCHIPPER

  	

   

  
	

   

  	

   

  	

  Name:  M.H.

  Schipper

  	

   

  
	

   

  	

   

  	

  Title:

  	

   

  
					

 

S-1Exhibit

10.30

EXECUTION COPY

 

 

 

AMENDED AND RESTATED

ADMINISTRATION AGREEMENT*

 

among

 

WILLIS ENGINE FUNDING

LLC,

as Issuer,

 

WILLIS LEASE FINANCE

CORPORATION,

as Servicer

 

BARCLAYS BANK PLC,

as Administrative Agent

 

and

 

THE BANK OF NEW YORK,

as Indenture Trustee

 

Dated as of December 13,

2002

 

 

*                      Portions of the material in

this Exhibit have been redacted pursuant to a request for confidential

treatment, and the redacted material has been filed separately with the

Securities and Exchange Commission (the “Commission”).  An asterisk has been placed in the precise

places in this Agreement where we have redacted information, and the asterisk

is keyed to a legend which states that the material has been omitted pursuant

to a request for confidential treatment.

 

 

 

 

This AMENDED AND RESTATED ADMINISTRATION AGREEMENT,

dated as of December 13, 2002 (the “Agreement”), among WILLIS ENGINE

FUNDING LLC, a Delaware limited liability company (the “Issuer”), WILLIS

LEASE FINANCE CORPORATION, a Delaware corporation (the “Servicer”), BARCLAYS

BANK PLC (the “Administrative Agent”) and THE BANK OF NEW YORK, a New York

banking corporation, as Indenture Trustee (the “Indenture Trustee”).

 

W I T N

E S S E T H:

 

WHEREAS, the Issuer, the Servicer, the Administrative

Agent and the Indenture Trustee are party to the Administration Agreement dated

as of September 12, 2002 (the “Original Administration Agreement”); and

 

WHEREAS, the Issuer, the Servicer, the Administrative

Agent and, with the unanimous consent of the Holders of the outstanding Willis

Engine Funding LLC Secured Notes, Series 2002-1, Class A and B, the Indenture

Trustee have agreed to amend and restate the Original Administration Agreement

in conjunction with the execution and delivery of the Amended and Restated Indenture

dated as of December 13, 2002 (as amended, restated, supplemented or otherwise

modified, the “Indenture”) between the Issuer and the Indenture Trustee.

 

NOW, THEREFORE, in consideration of the mutual

covenants contained herein, and other, good and valuable consideration, the

receipt and adequacy of which are hereby acknowledged, the parties agree as

follows:

 

SECTION 1.   Definitions.  Capitalized terms used and not otherwise

defined herein shall have the meanings assigned to such terms in the Indenture.

 

SECTION 2.   Appointment

and Authority of Administrative Agent. 

Subject to the terms and conditions set forth herein, the Indenture

Trustee, on behalf of the Noteholders, hereby appoints the Administrative Agent

to perform all of the activities set forth in Section 3 hereof.  By executing this Agreement, the

Administrative Agent hereby accepts such appointment.

 

SECTION 3.     Duties of the

Administrative Agent.  Subject to

the limitations set forth in this Agreement, the duties of the Administrative Agent

shall be limited to the following:

 

(a)                 Facilitation

of Transfer to Replacement Servicer.  Upon receipt of a copy of a notice that a Servicer Termination

Notice has been issued pursuant to Section 405(b) of the Indenture, the

Administrative Agent shall use reasonable efforts to locate a qualified

replacement Servicer to fulfill the duties of the then current Servicer in

accordance with, and subject to the terms and conditions set forth in, Section

405(b) of the Indenture.  The

Administrative Agent agrees to perform the duties set forth in Section 405(b)

of the Indenture.

 

(b)                Facilitation

of Transfer to Successor Indenture Trustee.  Upon receipt of a copy of the notice given

by the Indenture Trustee pursuant to Section 907 of the

 

 

Indenture, the Administrative Agent shall use reasonable efforts to

locate a qualified successor trustee to fulfill the duties of the then current

Indenture Trustee.

 

(c)                 Reserved.

 

(d)                The Administrative

Agent shall take all action required of it under the Indenture or the Series

2002-1 Supplement.  All such obligations

of the Administrative Agent set forth therein are incorporated herein by

reference and failure to take any such action shall constitute a breach of this

Agreement.

 

SECTION 4.   Standard

of Care; Conformity with Applicable Law; Liability of Administrative Agent.  (a) 

The Administrative Agent will perform its duties hereunder in accordance

with the same standard of care exercised by the Administrative Agent in the

conduct of similar affairs for its own account.

 

(b)                The Administrative

Agent will not, in performing its obligations hereunder, take any action that

would be in violation of any law, rule or regulation that may be applicable to

the Administrative Agent, its property or the services to be performed hereunder.

 

(c)                 The

Administrative Agent shall not (a) be liable for any action taken or omitted to

be taken by it under or in connection with this Agreement (except for its own

gross negligence or willful misconduct), or (b) be responsible in any manner for

any recital, statement, representation or warranty made by the Issuer,

Indenture Trustee or Servicer, or any officer thereof, contained in this

Agreement or in any other Related Document, or in any certificate, report,

statement or other document referred to or provided for in, or received by the

Administrative Agent under or in connection with, this Agreement or in any

other Related Document, or for the value of any Collateral or the validity,

effectiveness, genuineness, enforceability or sufficiency of any Related

Document, or for any failure of the Issuer, Indenture Trustee or Servicer or

any other party to any Related Document to perform its obligations thereunder

except to the extent set forth therein. 

The Administrative Agent shall be entitled to rely, and shall be fully

protected in relying, upon any writing, resolution, notice, consent,

certificate, affidavit, letter, telegram, facsimile or other document

reasonably believed by it to be genuine and correct and to have been signed or

sent by the proper Person or Persons, and upon advice and statements of legal

counsel, independent accountants and other experts selected by the

Administrative Agent.

 

SECTION 5.   Records.  The Administrative Agent shall maintain

appropriate books of account and records relating to services performed

hereunder, which books of account and records shall upon prior written notice

to the Administrative Agent be accessible for inspection at the offices of the

Administrative Agent by the Issuer, the Servicer and the Indenture Trustee, and

the agents of any of them, at such inspecting party’s expense during the

Administrative Agent’s normal business hours.

 

SECTION 6.   Indemnification.  (a) 

The Administrative Agent hereby agrees to indemnify and hold harmless

the Indenture Trustee, each Noteholder and their respective directors, officers

and shareholders (each an “Indemnified Party”) from and against any and

all damages, losses, liabilities, costs and expenses incurred by an Indemnified

Party resulting from 

 

2

 

the gross negligence or willful misconduct of the Administrative Agent

in performing (or failing to perform) its obligations under this

Agreement.  An Indemnified Party shall

immediately notify the Administrative Agent of any damages, losses,

liabilities, costs or expenses which an Indemnified Party has determined has

given or would give rise to a right of indemnification hereunder and the

Administrative Agent shall have the exclusive right to compromise or defend any

such liability or claim at its own expense, which decision shall be binding and

conclusive upon an Indemnified Party. 

Failure to give such notice shall not relieve the Administrative Agent

of its obligations hereunder; provided, however, that the Administrative

Agent shall not be liable or otherwise be held responsible for any damages,

losses, liabilities, costs or expenses resulting from the failure to give such

notice.  The Administrative Agent hereby

agrees to indemnify and hold harmless the Issuer from and against any and all

damages, losses, liabilities, costs and expenses incurred by the Issuer

resulting from the gross negligence or willful misconduct of the Administrative

Agent in performing its obligations under Section 2.2(c) of the Series 2002-1 Supplement.

 

(b)                The Issuer and the

Servicer shall jointly and severally indemnify and hold harmless the

Administrative Agent from and against any and all liabilities, obligations,

losses, damages, penalties, actions, judgments, suits, costs, expenses and disbursements

of any kind whatsoever which may at any time (including at any time following

the repayment of any Outstanding Obligations and the termination or resignation

of the related Administrative Agent) be imposed on, incurred by or asserted

against the Administrative Agent in any way relating to or arising out of this

Agreement or any document contemplated by or referred to herein or therein or

the transactions contemplated hereby or thereby or any action taken or omitted

by the Administrative Agent under or in connection with any of the foregoing; provided,

however, that neither the Issuer nor the Servicer shall be liable

for the payment to the Administrative Agent of any portion of such liabilities,

obligations, losses, damages, penalties, actions, judgments, suits, costs,

expenses or disbursements resulting solely from the Administrative Agent’s

gross negligence or willful misconduct.

 

SECTION 7.   Compensation.  As compensation for the performance of the

Administrative Agent’s obligations under this Agreement, the Issuer agrees to

pay quarterly in arrears, beginning with the third Payment Date following the

Closing Date, to the Administrative Agent a fee at the rate of

       %* per annum of the sum of the

Aggregate Note Principal Balance of all Series then Outstanding on the related

quarterly Payment Date; notwithstanding payment of such fee by the Servicer,

each of the parties hereto acknowledge that the Administrative Agent is the

agent of the Noteholders.  If the

Servicer fails to pay such fee, the Issuer shall pay such unpaid amounts from

amounts on deposit in the Series 2002-1 Series Account in accordance with the

provisions of Section 3.2 of the Series 2002-1 Supplement.  In addition, the Administrative Agent shall

also be entitled to be reimbursed in accordance with Section 3.2 of the Series

2002-1 Supplement for its expenses incurred in taking any actions required

pursuant to Section 405(b) of the Indenture.

 

SECTION 8.   Independence

of the Administrative Agent.  For

all purposes of this Agreement, the Administrative Agent shall be an agent of

the Noteholders and shall not be

 

*                                         This

redacted material has been omitted pursuant to a request for confidential

treatment, and the material has been filed separately with the Commission.

 

3

 

subject to the supervision of the Issuer, Servicer or Indenture Trustee

with respect to the manner in which it accomplishes the performance of its

obligations hereunder; provided, however, that the Administrative

Agent shall act in accordance with directions from the Requisite Global

Majority when required by the Indenture or the Related Documents.

 

SECTION 9.   No

Joint Venture.  Nothing contained in

this Agreement (i) shall constitute the Administrative Agent, the Issuer,

the Servicer and the Indenture Trustee as members of any partnership, joint

venture, association, syndicate, unincorporated business or other separate

entity, (ii) shall be construed to impose any liability as such on any of them

or (iii) shall be deemed to confer on any of them any express, implied or

apparent authority to incur any obligation or liability on behalf of the

others.

 

SECTION 10.  Other

Activities of the Administrative Agent. 

Nothing herein shall prevent the Administrative Agent or its Affiliates

from engaging in other businesses or, in its sole discretion, from acting in a

similar capacity as an administrator for any other Person even though such

Person may engage in business activities similar to those of the Issuer and/or

the Servicer.

 

 

SECTION 11.   Term

of Agreement; Resignation and Removal of Administrative Agent.  (a) 

This Agreement shall continue in force until all of the Outstanding

Obligations under the Indenture are paid in full, upon which event this

Agreement shall automatically terminate.

 

(b)                     The

Administrative Agent may resign its duties hereunder by providing each of the

Issuer, the Servicer and the Indenture Trustee with at least 60 days’ prior

written notice.

 

(c)                      The

Indenture Trustee, acting at the written direction of the Requisite Global

Majority, or of the Issuer, may remove the Administrative Agent immediately

upon written notice of termination to the Administrative Agent (with a copy to

each of the Issuer and the Servicer) if any of the following events shall occur:

 

(i)                                              the

Administrative Agent shall default in any material respect the performance of

any of its duties under this Agreement which failure continues unremedied for a

period of fifteen (15) days after the receipt by the Administrative Agent of

written notice thereof specifying with reasonable detail the default;

 

(ii)                                           a

court having jurisdiction in the premises shall enter a decree or order for

relief, and such decree or order shall not have been vacated within 60 days, in

respect of the Administrative Agent in any involuntary case under any

applicable bankruptcy, insolvency or other similar law now or hereafter in

effect or appoint a receiver, liquidator, assignee, custodian, trustee,

sequestrator or similar official for the Administrative Agent or any

substantial part of its property or order the winding-up or liquidation of its

affairs; or

 

(iii)                                        the

Administrative Agent shall commence a voluntary case under any applicable

bankruptcy, insolvency or other similar law now or hereafter in effect, shall consent

to the entry of an order for relief in an involuntary case under any such law,

or shall consent to the appointment of a receiver, liquidator, assignee,

trustee, custodian, sequestrator or similar official for the Administrative

Agent or any substantial part of its property, shall consent

 

4

 

to the taking of possession by any such official of any substantial

part of its property, shall make any general assignment for the benefit of

creditors or shall fail generally to pay its debts as they become due.

 

(d)                     No

resignation or removal of the Administrative Agent pursuant to this Section 11

shall be effective until (i) a successor Administrative Agent shall have been

appointed by the Requisite Global Majority (which successor shall also be

reasonably acceptable to the Issuer) and (ii) such successor Administrative

Agent shall have agreed in writing to be bound by the terms of this Agreement

in the same manner as the Administrative Agent is bound hereunder or as

otherwise approved by the Requisite Global Majority.  A copy of any such appointment and the agreement executed by such

successor Administrative Agent shall be promptly sent to each of the Issuer,

the Servicer and the Indenture Trustee.

 

SECTION 12.   Action

upon Termination; Resignation or Removal. 

Promptly upon the effective date of termination of this Agreement

pursuant to Section 11(a) of this Agreement or the resignation or removal of

the Administrative Agent pursuant to Section 11(b) or (c) of this

Agreement, respectively, the Administrative Agent shall be entitled to be paid

all fees and reimbursable expenses accruing to it to the date of such

termination, resignation or removal.  In

the event of the resignation or removal of the Administrative Agent pursuant to

Section 11(b) or (c) of this Agreement, respectively, the Administrative Agent

shall cooperate with the Indenture Trustee and take all reasonable steps

requested to assist the Requisite Global Majority and the Indenture Trustee in

making an orderly transfer of the duties of the Administrative Agent.

 

SECTION 13.   Notices.  Any notice, report or other communication

given hereunder shall be in writing and addressed as follows:

 

(a)                      If to the

Issuer, to:

 

Willis Engine Funding LLC

2320 Marinship Way

Sausalito, California  94965

Attention:  Counsel

Fax:     (415) 331-0607

 

with a copy to:

 

the Servicer and

Gibson, Dunn & Crutcher LLP

333 South Grand Avenue

Los Angeles, CA  90071

Attention:  Brian D. Kilb

Telephone:     (213) 229-7236

Fax:                (213)

229-7520

 

5

 

(b)                     If to the

Administrative Agent, to:

 

Barclays Bank PLC

200 Park Avenue

New York, New York 10166

Attn:  Asset Securitization Group

 

(c)                      If to the

Indenture Trustee, to:

 

The Bank of New York

101 Barclay Street

8th Floor West

Asset Backed Securities Unit

New York, New York  10286

Fax:     (212) 815-2493

 

(d)                     If to the

Servicer, to:

 

Willis Lease Finance Corporation

2320 Marinship Way, Suite 300

Sausalito, California  94965

Attention:  Counsel

Fax:     415/331-0607

 

with a copy to:

 

Gibson, Dunn & Crutcher LLP

333 South Grand Avenue

Los Angeles, CA  90071

Attention:  Brian D. Kilb

Telephone:     (213) 229-7236

Fax:                (213)

229-7520

 

(e)                      If to any

Noteholder, at the address set forth in the Note Register, or to such other

address as any party shall have provided to the other parties in writing.  Any notice required to be in writing

hereunder shall be deemed given if such notice is mailed by certified mail,

postage prepaid, or hand-delivered (or, in the case of the Issuer or the

Servicer, by internationally recognized courier service) to the address of such

party as provided above.

 

SECTION 14.   Amendments.  This Agreement may be amended from time to

time by the parties hereto, provided that any amendment must be accompanied by

the written consent of the Requisite Global Majority.  Prior to the execution of any amendment to this Agreement, the

Issuer will provide notice of any such amendment to each Rating Agency, if any.

 

SECTION 15.   Successors

and Assigns.  This Agreement may not

be assigned by the Administrative Agent except to an Affiliate unless (i) such

assignment is previously consented to in writing by the Indenture Trustee

(acting at the direction of the Control Party of

 

6

 

each Series), (ii) such assignee is reasonably acceptable to the

Issuer, and (iii) each Rating Agency, if any, shall have received prior notice

of each such assignment.

 

SECTION 16.   GOVERNING

LAW.  THIS AGREEMENT SHALL BE

CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT

REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND

REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH

LAWS WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES.

 

SECTION 17.   Consent

to Jurisdiction.  Any legal suit,

action or proceeding against any of the parties hereto arising out of or

relating to this Agreement, or any transaction contemplated hereby, may be

instituted in any federal or state court in New York County, State of New York,

and each of the parties hereto hereby waives any objection which it may now or

hereafter have to the laying of venue of any such suit, action or proceeding,

and, solely for the purposes of enforcing this Agreement, each of the Issuer

and the Servicer hereby irrevocably submits to the non-exclusive jurisdiction

of any such court in any such suit, action or proceeding.  Each of the Issuer and the Servicer hereby

irrevocably appoints and designates CT Corporation Systems, 1633 Broadway,

New York, New York 10019, its true and lawful attorney-in-fact and duly

authorized agent for the limited purpose of accepting service of legal process

and the Issuer agrees that service of process upon such party shall constitute

personal service of such process on such Person.  Each of the Issuer and the Servicer shall maintain the

designation and appointment of such authorized agent until all amounts payable

under this Agreement shall have been paid in full.  If such agent shall cease to so act, each of the Issuer and the

Servicer shall immediately designate and appoint another such agent

satisfactory to the Administrative Agent and shall promptly deliver to the

Administrative Agent evidence in writing of such other agent’s acceptance of

such appointment.

 

SECTION 18.   Headings.  The section headings hereof have been

inserted for convenience of reference only and shall not be construed to affect

the meaning, construction or effect of this Agreement.

 

SECTION 19.   Counterparts.  This Agreement may be executed in

counterparts, each of which when so executed shall together constitute but one

and the same agreement.

 

SECTION 20.   Severability.  Any provision of this Agreement that is

prohibited or unenforceable under any applicable law, rule or regulation or

that would result in the imposition of any fine or adverse regulatory or other

consequence in any jurisdiction shall be ineffective to the extent thereof

without invalidating the remaining provisions hereof and any such prohibition

or unenforceability in any jurisdiction shall not invalidate or render

unenforceable such provision in any other jurisdiction.

 

SECTION 21.    Agreement Not to File

Petition in Bankruptcy.  The

Administrative Agent hereby agrees that it shall not institute against, or join

any other person in instituting against, the Issuer any bankruptcy,

reorganization, arrangement, insolvency or liquidation proceeding, or other

proceeding under any insolvency, bankruptcy or similar law of any

 

7

 

jurisdiction, for one year and a day after the last date on which any

Note of any Series was Outstanding.

 

SECTION 22.   Binding

Effect Third-Party Beneficiaries. 

This Agreement will inure to the benefit of and be binding upon the

parties hereto.

 

SECTION 23.   Merger

and Integration.  Except as

specifically stated otherwise herein, this Agreement sets forth the entire

understanding of the parties relating to the subject matter hereof, and all prior

understandings, written or oral, are superseded by this Agreement.  This Agreement may not be modified, amended,

waived or supplemented except as provided herein.

 

SECTION 24.   Effect on

Original Administration Agreement. The Issuer, the Servicer, the

Administrative Agent and the Indenture Trustee hereby agree that as of the

Effective Date the terms and provisions of the Original Administration

Agreement shall be and hereby are amended and restated in their entirety by the

terms and provisions of this Agreement.

 

8

 

IN WITNESS WHEREOF, the parties have caused this

Administration Agreement to be duly executed and delivered as of the day and

year first above written.

 

	

   

  	

  WILLIS ENGINE FUNDING LLC, as Issuer

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

  /s/ MONICA J. BURKE

  
	

   

  	

   

  	

  Name:

  	

  Monica J. Burke

  
	

   

  	

   

  	

  Title:

  	

  Chief Financial Officer

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

  BARCLAYS BANK PLC, as Administrative Agent

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

  /s/ PIERRE DULEYRIE

  
	

   

  	

   

  	

  Name:

  	

  Pierre Duleyrie

  
	

   

  	

   

  	

  Title:

  	

  Director

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

  WILLIS LEASE FINANCE CORPORATION, as Servicer

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

  /s/ DONALD A. NUNEMAKER

  
	

   

  	

   

  	

  Name:

  	

  Donald A. Nunemaker

  
	

   

  	

   

  	

  Title:

  	

  Executive Vice President

  Chief Operating Officer

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

  THE BANK OF NEW YORK, not in its individual capacity

  but solely as Indenture Trustee

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

  /s/ SCOTT J. TEPPER

  
	

   

  	

   

  	

  Name:

  	

  Scott J. Tepper

  
	

   

  	

   

  	

  Title:

  	

  Assistant Vice President

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