Document:

Exhibit 10.31

 

WELLS FARGO CAPITAL FINANCE, INC.

2450 Colorado Ave., Suite 3000 West

Santa Monica, CA 90404

 

Dated as of January 24, 2011

 

HAWAIIAN AIRLINES, INC.

3375 Koapaka St., Ste. G-350

Honolulu, HI 96819

Attn: Chief Financial Officer and Controller

 

Re:  Waiver, Extension, and Amendment under Credit Agreement

 

Ladies and Gentlemen:

 

Reference is made to (a) that certain AMENDED AND RESTATED CREDIT AGREEMENT, dated as of December 10, 2010 (as amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”), by and among the lenders identified on the signature pages thereof (such lenders, together with their respective successors and permitted assigns, are referred to hereinafter each individually as a “Lender” and collectively as the “Lenders”), WELLS FARGO CAPITAL FINANCE, INC., a California corporation, as agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, “Agent”), HAWAIIAN HOLDINGS, INC., a Delaware corporation (“Parent”), and HAWAIIAN AIRLINES, INC., a Delaware corporation (“Borrower”), and (b) that certain Extension Under Credit Agreement, dated as of January 7, 2011 (the “Extension”), by and between Parent, Borrower, and Agent.  Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement.

 

Pursuant to Schedule 3.6 of the Credit Agreement and the provisions of the Extension, Borrower is required to deliver to Agent (a) a Control Agreement with respect to the Deposit Account of Borrower located at J.P. Morgan Chase Bank, N.A. by January 24, 2011 (the “Chase Control Agreement Requirement”), (b) a Collateral Access Agreement covering each Delta Location (the “Delta Collateral Access Agreement”) by February 8, 2011, (c) the Bellanca Aircraft Security Agreement, together with the other documents listed in Schedule 3.6(c) to the Credit Agreement, by January 24, 2011 (the “Bellanca Aircraft Security Agreement Deliverable Deadline”), and (d) amended and restated Control Agreements (or entered into other arrangements satisfactory to Agent) with respect to the Deposit Accounts and Securities Accounts of Borrower located at the financial institutions set forth in the table on Schedule A attached hereto for the applicable account numbers set forth opposite thereto by January 24, 2011 (the “Control Agreements Deliverable Deadline”).

 

Borrower has requested that Agent and the Required Lenders (a) waive the Chase Control Agreement Requirement, (b) amend clause (f) of Schedule 3.6 to provide that Borrower shall use commercially reasonable efforts to deliver to Agent the Delta Collateral Access Agreement, (c) extend the Bellanca Aircraft Security Agreement Deliverable Deadline to February 8, 2011, and (d) extend the Control Agreements Deliverable Deadline to February 8, 2011.  Agent and the Required Lenders are willing to grant the requested waiver, amendment, and extensions subject to the terms and conditions herein.

 

Accordingly, Parent, Borrower, Agent and the Required Lenders hereby agree as follows:

 

1.             Agent and the Required Lenders waive the Chase Control Agreement Requirement.

 

 

2.             Clause (f) of Schedule 3.6 to the Credit Agreement is hereby amended and restated in its entirety as follows:

 

“(f)          Borrower shall use commercially reasonable efforts to deliver to Agent a Collateral Access Agreement covering each Delta Location, in form, content, and substance satisfactory to Agent, duly executed, and in full force and effect;”

 

3.             The Bellanca Aircraft Security Agreement Deliverable Deadline is extended to February 8, 2011.

 

4.             The Control Agreements Deliverable Deadline is extended to February 8, 2011.

 

The waiver set forth herein in paragraph 1 above is limited to the specifics hereof, shall not apply with respect to any other facts or occurrences other than those on which the same are based, shall not excuse future non-compliance with the Credit Agreement or the other Loan Documents, and, except as expressly set forth herein, shall not operate as a waiver or an amendment of any right, power, or remedy of Agent or the Lenders, nor as a consent to or waiver of any further or other matter, under the Loan Documents.

 

Except as expressly set forth herein, this letter agreement shall not, by implication or otherwise, limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Lender Group under the Credit Agreement, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  Borrower hereby represents and warrants to Agent and the Lenders that as of the date hereof no Default or Event of Default has occurred and is continuing.  Nothing herein shall be deemed to entitle Borrower to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement in similar or different circumstances.

 

This letter agreement shall constitute a Loan Document, and, after the date hereof, any reference to the “Agreement” in the Credit Agreement or the “Credit Agreement” in any other Loan Document, shall mean the Credit Agreement as modified hereby.  This letter agreement shall be subject to the provisions regarding governing law, waiver of jury trial, jurisdiction and venue applicable to the Credit Agreement.

 

This letter agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.  Delivery of an executed counterpart of this letter agreement by telefacsimile or electronic mail shall be equally as effective as delivery of an original executed counterpart of this letter agreement.  Any party delivering an executed counterpart of this letter agreement by telefacsimile or electronic mail shall also deliver an original executed counterpart of this letter agreement, but the failure to do so shall not affect the validity, enforceability or binding effect of this letter agreement.

 

[signature pages follow]

 

 

IN WITNESS WHEREOF, the parties hereto have caused this letter agreement to be executed and delivered by their duly authorized officers.

 

 

	
 
    	
WELLS   FARGO CAPITAL FINANCE, INC.,
    
	
 
    	
a   California corporation, as Agent and as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Amelie Yehros
    
	
 
    	
Name:   
    	
Amelie   Yehros
    
	
 
    	
Title:   
    	
SVP
    

 

[SIGNATURE PAGE TO WAIVER, EXTENSION, AND AMENDMENT]

 

 

	
 
    	
BANK   OF HAWAII, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Marc Adelberger
    
	
 
    	
Name:   
    	
Marc   Adelberger
    
	
 
    	
Title:   
    	
Vice   President
    

 

[SIGNATURE PAGE TO WAIVER, EXTENSION, AND AMENDMENT]

 

 

	
 
    	
BURDALE   CAPITAL FINANCE, INC., as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Antimo Barbieri
    
	
 
    	
Name:
    	
Antimo   Barbieri
    
	
 
    	
Title:   
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
/s/   Steven Sanicola
    
	
 
    	
 
    	
Steven   Sanicola
    
	
 
    	
 
    	
Director
    

 

[SIGNATURE PAGE TO WAIVER, EXTENSION, AND AMENDMENT]

 

 

	
 
    	
HAWAIIAN   AIRLINES, INC., 
    
	
 
    	
a   Delaware corporation, as Borrower
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter R. Ingram
    
	
 
    	
Name:   
    	
Peter   R. Ingram
    
	
 
    	
Title:   
    	
Executive   Vice President, Chief Financial Officer and Treasurer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
HAWAIIAN   HOLDINGS, INC., 
    
	
 
    	
a   Delaware corporation, as Parent
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Peter R. Ingram
    
	
 
    	
Name:   
    	
Peter   R. Ingram
    
	
 
    	
Title:  
    	
Executive   Vice President, Chief Financial Officer and Treasurer
    

 

[SIGNATURE PAGE TO WAIVER, EXTENSION, AND AMENDMENT]Exhibit 10.44.3

 

Amendment N°4

 

to the Airbus A330/A350XWB Purchase Agreement

 

Dated as of January 31, 2008

 

Between

 

AIRBUS S.A.S.

 

And

 

HAWAIIAN AIRLINES, INC.

 

This Amendment N°4 (hereinafter referred to as the “Amendment”), entered into as of August 3, 2010, between Airbus S.A.S., organized and existing under the laws of the Republic of France, having its registered office located at 1, Rond-Point Maurice Bellonte, 31700 Blagnac, France (hereinafter referred to as the “Seller”), and Hawaiian Airlines, Inc. a corporation, organized and existing under the laws of the State of Delaware, United States of America, having its principal corporate offices located at 3375 Koapaka Street, Ste. G-350, Honolulu, Hawaii, 96819, USA (hereinafter referred to as the “Buyer”).

 

WITNESSETH

 

WHEREAS, the Buyer and the Seller have entered into an Airbus A330/A350XWB Purchase Agreement dated as January 31, 2008, which agreement, as previously amended and supplemented with all exhibits, appendices, and letter agreements and amendments, including Amendment No. 1 dated as of January 31, 2008, Amendment No. 2 dated as of November 27, 2009 and Amendment No 3 dated as of March 3, 2010 (collectively, the “Agreement”) relates to the sale by the Seller and the purchase by the Buyer of certain aircraft, under the terms and conditions set forth in said Agreement;

 

WHEREAS, capitalized terms used herein and not otherwise defined herein will have the meanings assigned to them in the Agreement. The terms “herein,” “hereof” and “hereunder” and words of similar import refer to this Amendment; and

 

WHEREAS, the Buyer and the Seller wish to amend some terms of the Agreement;

 

NOW, THEREFORE, IT IS AGREED AS FOLLOWS:

 

[**] — Confidential treatment has been requested for the bracketed portions.  The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.

 

Confidential

 

1

 

1.                                      DELIVERY SCHEDULE

 

1.1                                 One A330-200 Aircraft with an A330-200 Scheduled Delivery [**] of [**] 2013 is rescheduled to [**] 2011.

 

1.2                                 The first delivery table set forth in Clause 9.1.1 of the Agreement is deleted in its entirety and replaced with the delivery schedule table below between the QUOTE and UNQUOTE:

 

QUOTE

 

Aircraft N°1           [**] 2011

Aircraft N°2           [**] 2011

Aircraft N°3           [**] 2012

Aircraft N°4           [**] 2012

Aircraft N°5           [**] 2013

Aircraft N°6           [**] 2013

Aircraft N°7           [**] 2014

 

[**]

 

UNQUOTE

 

1.3                                 The A330-200 Aircraft identified in Clause 9.1.1 of the Agreement (as amended by this Amendment) with a [**] 2011 A330-200 Scheduled Delivery Quarter will have a Scheduled Delivery [**] of [**] 2011.

 

2.                                    [**]

 

3.                                    EFFECT OF THE AMENDMENT

 

3.1                                 The provisions of this Amendment are binding on both parties upon execution hereof and payment of the Predelivery Payments as per paragraph 2 above. The Agreement will be deemed to be amended to the extent herein provided, and, except as specifically amended hereby, will continue in full force and effect in accordance with its original terms. This Amendment supersedes any previous understandings, commitments, or representations whatsoever, whether oral or written, related to the subject matter of this Amendment.

 

3.2                                 Both parties agree that this Amendment will constitute an integral, nonseverable part of said Agreement, that the provisions of said Agreement are hereby incorporated herein by reference, and that this Amendment will be governed by the provisions of said Agreement, except that if the Agreement and this Amendment have specific provisions that are inconsistent, the specific provisions contained in this Amendment will govern.

 

[**] — Confidential treatment has been requested for the bracketed portions.  The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.

 

Confidential

 

2

 

4.                                    CONFIDENTIALITY

 

This Amendment is subject to the confidentiality provisions set forth in Clause 22.9 of the Agreement.

 

5.                                    COUNTERPARTS

 

This Amendment may be signed in separate counterparts.  Each counterpart, when signed and delivered (including counterparts delivered by facsimile transmission), will be an original, and the counterparts will together constitute one and the same instrument.

 

[**] — Confidential treatment has been requested for the bracketed portions.  The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.

 

Confidential

 

3

 

If the foregoing correctly sets forth your understanding, please execute the original and one (1) copy hereof in the space provided below.

 

Very truly yours,

 

AIRBUS S.A.S.

 

 

	
By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
Accepted and Agreed
    	
 
    
	
 
    	
 
    	
 
    
	
Hawaiian Airlines, Inc.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
and
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    

 

[**] — Confidential treatment has been requested for the bracketed portions.  The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.

 

Confidential

 

4

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