Document:

MANAGEMENT
		AGREEMENT

	  

	 

	  

	 among

	  

	 

	  

	 GENESIS
		FUNDING LIMITED,

	 as the
		Issuer

	  

	 

	  

	 THE
		ISSUER SUBSIDIARIES IDENTIFIED HEREIN,

	  

	 

	  

	 DEUTSCHE
		BANK TRUST COMPANY AMERICAS

	 in its
		capacity as the Trustee and the Security Trustee, 

	  

	 

	  

	 FINANCIAL
		GUARANTY INSURANCE COMPANY

	 as the
		Policy Provider,

	  

	 

	  

	 GENESIS
		LEASE LIMITED

	 as the
		Manager

	  

	 and

	  

	 PHOENIX
		AMERICAN FINANCIAL SERVICES, INC.

	 as the
		Replacement Manager

	  

	 

	  

	 Dated as
		of [  ], 2006

	  

	 

	 
 

	  

	 Table of
		Contents

	  

	 
		
		  	 	 	
				  Page

				  
	
				  ARTICLE
					 I DEFINITIONS
 	
				  1

				  
	
				  Section
					 1.01
 	
				  Definitions.

				  	
				  1

				  
	 	 
	
				  ARTICLE
					 II APPOINTMENT; ADMINISTRATIVE SERVICES
 	
				  4

				  
	
				  Section
					 2.01
 	
				  Appointment.

				  	
				  4

				  
	
				  Section
					 2.02
 	
				  Limitations.

				  	
				  5

				  
	
				  Section
					 2.03
 	
				  Issuer
					 Group Services.
 	
				  6

				  
	
				  Section
					 2.04
 	
				  Accounting
					 Services.
 	
				  10

				  
	
				  Section
					 2.05
 	
				  Additional
					 Services.
 	
				  12

				  
	
				  Section
					 2.06
 	
				  Additional
					 Aircraft.
 	
				  12

				  
	
				  Section
					 2.07
 	
				  New
					 Subsidiaries.
 	
				  12

				  
	
				  Section
					 2.08
 	
				  The
					 Issuer Group Responsibility.
 	
				  13

				  
	 	 
	
				  ARTICLE
					 III STANDARD OF PERFORMANCE; LIABILITY AND INDEMNITY
 	
				  13

				  
	
				  Section
					 3.01
 	
				  Standard
					 of Performance.
 	
				  13

				  
	
				  Section
					 3.02
 	
				  Liability
					 and Indemnity.
 	
				  13

				  
	 	 
	
				  ARTICLE
					 IV MANAGER UNDERTAKINGS
 	
				  15

				  
	
				  Section
					 4.01
 	
				  Manager
					 Undertakings.
 	
				  15

				  
	
				  Section
					 4.02
 	
				  Representations
					 of the Manager.
 	
				  18

				  
	
				  Section
					 4.03
 	
				  Competitors.

				  	
				  19

				  
	
				  Section
					 4.04
 	
				  Access.

				  	
				  19

				  
	 	 
	
				  ARTICLE
					 V UNDERTAKINGS OF THE ISSUER GROUP
 	
				  20

				  
	
				  Section
					 5.01
 	
				  Cooperation.

				  	
				  20

				  
	
				  Section
					 5.02
 	
				  Information.

				  	
				  20

				  
	
				  Section
					 5.03
 	
				  Scope of
					 Services
 	
				  20

				  

 

		 

		
		  
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				  Page 

				  
	
				  Section
					 5.04
 	
				  Ratification.

				  	
				  21

				  
	
				  Section
					 5.05
 	
				  Covenants.

				  	
				  21

				  
	
				  Section
					 5.06
 	
				  Ratification
					 by Subsidiaries.
 	
				  22

				  
	
				  Section
					 5.07
 	
				  Organization
					 and Standing .
 	
				  22

				  
	 	 
	
				  ARTICLE
					 VI MANAGEMENT FEES AND EXPENSES
 	
				  22

				  
	
				  Section
					 6.01
 	
				  Management
					 Fees.
 	
				  22

				  
	
				  Section
					 6.02
 	
				  Expenses.

				  	
				  23

				  
	
				  Section
					 6.03
 	
				  Payment
					 of Expenses.
 	
				  23

				  
	 	 
	
				  ARTICLE
					 VII TERM; REPLACEMENT OF OR RESIGNATION BY THE MANAGER
 	
				  24

				  
	
				  Section
					 7.01
 	
				  Term.

				  	
				  24

				  
	
				  Section
					 7.02
 	
				  Replacement
					 or Resignation.
 	
				  24

				  
	
				  Section
					 7.03
 	
				  Consequences
					 of Replacement or Resignation.
 	
				  27

				  
	
				  Section
					 7.04
 	
				  Survival.

				  	
				  27

				  
	 	 
	
				  ARTICLE
					 VIII ASSIGNMENT AND DELEGATION
 	
				  28

				  
	
				  Section
					 8.01
 	
				  Assignment
					 and Delegation.
 	
				  28

				  
	 	 
	
				  ARTICLE
					 IX MISCELLANEOUS
 	
				  28

				  
	
				  Section
					 9.01
 	
				  Notices.

				  	
				  28

				  
	
				  Section
					 9.02
 	
				  Governing
					 Law.
 	
				  30

				  
	
				  Section
					 9.03
 	
				  Jurisdiction.

				  	
				  30

				  
	
				  Section
					 9.04
 	
				  WAIVER
					 OF JURY TRIAL.
 	
				  30

				  
	
				  Section
					 9.05
 	
				  Counterparts;
					 Third Party Beneficiaries.
 	
				  30

				  
	
				  Section
					 9.06
 	
				  Entire
					 Agreement.
 	
				  30

				  
	
				  Section
					 9.07
 	
				  Table of
					 Contents; Headings.
 	
				  31

				  
	
				  Section
					 9.08
 	
				  Amendments.

				  	
				  31

				  

 

		 

		
		  
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				  Page

				  
	
				  Section
					 9.09
 	
				  No
					 Partnership
 	
				  31

				  
	
				  Section
					 9.10
 	
				  Concerning
					 the Security Trustee and the Trustee.
 	
				  31

				  
	
				  Section
					 9.11
 	
				  Restrictions
					 on Disclosure.
 	
				  31

				  
	
				  Section
					 9.12
 	
				  Power of
					 Attorney.
 	
				  32

				  
	 	 	 
	
				  SCHEDULES

				  	 
	 	 	 
	
				  SCHEDULE
					 1 -
					 Accounts

				  	 
	 	 	 
	
				  SCHEDULE
					 2 -
					 Issuer
					 Group Services Power of Attorney
 	 

 
 

	  

	 
		
		  iii
		

		

		
 

	 

	  

	 THIS
		MANAGEMENT AGREEMENT (this “Agreement”) dated as of [ ], 2006, is
		made among GENESIS FUNDING LIMITED (the “Issuer”), a Bermuda exempted
		company, each ISSUER SUBSIDIARY signatory to this Agreement or that becomes a
		party under Section 5.06 hereof (collectively with the Issuer, the “Issuer
		Group”), DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual
		capacity but solely as the trustee under the Indenture (the
		“Trustee”) and as the security trustee under the Security Trust
		Agreement (the “Security Trustee”), FINANCIAL GUARANTY INSURANCE
		COMPANY, as the policy provider (the “Policy Provider”), GENESIS
		LEASE LIMITED, in its capacity as Manager (the “Manager”) and PHOENIX
		AMERICAN FINANCIAL SERVICES, INC., in its capacity as Replacement Manager (the
		“Replacement Manager”).

	  

	 For the
		consideration set forth herein and other good and valuable consideration, the
		receipt of which is hereby acknowledged, the Manager, the Trustee, the Security
		Trustee, the Policy Provider, the Issuer and the other Issuer Group Members
		agree as follows:

	  

	 ARTICLE
		I

	  

	 DEFINITIONS

	  

	 Section
		1.01 Definitions. For
		purposes of this Agreement, the following terms have the following meanings.
		Unless otherwise defined herein, all capitalized terms used but not defined
		herein have the meanings assigned to such terms in the Indenture.

	  

	 “Affiliate”
		means a Person that directly, or indirectly through one or more intermediaries,
		controls or is controlled by, or is under common control with, the Person
		specified; provided, however, that the Issuer, the other Issuer Group Members,
		on the one hand, and the Trustee, the Security Trustee and the Manager, on the
		other hand, shall not be considered to be Affiliates of each
		other.

	  

	 “After-Tax
		Basis” means on a basis such that any payment received, deemed to have
		been received or receivable by any Person shall, if necessary, be supplemented
		by a further payment to that Person so that the sum of the two payments shall,
		after deduction of all U.S. federal, state, local and foreign Taxes, penalties,
		fines, interest, additions to Tax and other charges resulting from the receipt
		(actual or constructive) or accrual of such payments imposed by or under any
		U.S. federal, state, local or foreign law or Governmental Authority (after
		taking into account any current deduction to which such Person shall be
		entitled with respect to the amount that gave rise to the underlying payment)
		be equal to the payment received, deemed to have been received or
		receivable.

	  

	 “Aircraft
		Asset Expenses Budget” has the meaning assigned to such term in Section
		7.03(a)(i) of the Servicing Agreement.

	  

	 “Aircraft
		Assets” has the meaning assigned to such term in Appendix A to the
		Servicing Agreement. 

	  

	 “Approved
		Budget” has the meaning assigned to such term in Section 7.03(d) of the
		Servicing Agreement.

	 
		 

		

		
 

		
		  2
		

	 

	  

	 “Concentration
		Limits” has the meaning assigned to such term in Section 2.2(a) of
		Schedule 2.02(a) of the Servicing Agreement.

	  

	 “Competitor
		Control” has the meaning assigned to such term in the Servicing
		Agreement.

	  

	 “Conflicts
		Standard” has the meaning assigned to such term in Section 3.02(b) of the
		Servicing Agreement.

	  

	 “Consolidated
		Quarterly Draft Accounts” has the meaning assigned to such term in Section
		2.04(b)(ii) hereof.

	  

	 “Consolidating
		Quarterly Draft Accounts” has the meaning assigned to such term in Section
		2.04(b)(iii) hereof.

	  

	 “Dollars”
		or “$” means the lawful currency of the United States of
		America.

	  

	 “Draft
		Accounts” has the meaning assigned to such term in Section 2.04(b)(iii)
		hereof.

	  

	 “EU”
		means the European Union.

	  

	 “FAA”
		means the Federal Aviation Administration or any Governmental Authority or
		other Person, agency or other authority succeeding to the functions of the
		Federal Aviation Administration.

	  

	 “Fee
		Period” has the meaning assigned to such term in Section 6.01
		hereof.

	  

	 “Governmental
		Authority” means any court, administrative agency or commission or other
		governmental agency or instrumentality (or any Responsible Officer thereof),
		domestic, foreign or international, of competent jurisdiction including,
		without limitation, the EU.

	  

	 “Indenture”
		means the Trust Indenture dated as of [ ], 2006, among the Issuer, the Cash
		Manager, the Initial Liquidity Facility Provider, the Policy Provider, the
		Operating Bank and the Trustee.

	  

	 “Issuer
		Group Services” has the meaning assigned to such term in Section 2.01(a)
		hereof.

	  

	 “Key
		Personnel” means any of the chief executive officer, chief financial
		officer or chief operating officer of the Manager.

	  

	 “Lease”
		means any lease or other agreement or arrangement pursuant to which any Person
		(other than an Issuer Group Member) has the right to possession and use of any
		Aircraft.

	  

	 

		

		
 

		
		  3
		

	 

	  

	 “Lease
		Operating Budget” has the meaning assigned to such term in
		Section 7.03(a)(i) of the Servicing Agreement.

	  

	 “Ledgers”
		has the meaning assigned to such term in Section 2.04(b)(i)
		hereof.

	  

	 “Loss”
		means any and all damage, loss, liability and expense (including reasonable
		legal fees, expenses and related charges and costs of investigation);
		provided,
		however, that
		the term “Loss” shall not include any indemnified party’s
		management time or overhead expenses except for non-ordinary course management
		time or overhead expenses relating to such damage, loss, liability or
		expense.

	  

	 “Manager”
		means the Person, at the time of determination, appointed as the Manager under
		this Agreement. The initial Manager for the Issuer Group Services is Genesis
		Lease Limited. 

	  

	 “Management
		Fee” has the meaning assigned to such term in Section 6.01
		hereof.

	  

	 “Manager
		Delegate” has the meaning assigned to such term in Section 8.01(a)
		hereof.

	  

	 “Policy
		Provider Replacement Event” has the meaning assigned to such term in
		Section 7.02(d) hereof.

	  

	 “Quarter”
		means the fiscal quarter of each Issuer Group Member, as
		applicable.

	  

	 “Ratings”
		means the ratings assigned to the Securities by the Rating
		Agencies.

	  

	 “Reimbursable
		Expenses” has the meaning assigned to such term in Section 6.02(b)
		hereof.

	  

	 “Replacement
		Event” has the meaning assigned to such term in Section 7.02
		hereof.

	  

	 “Replacement
		Manager” has the meaning assigned to such term in the preamble
		hereof.

	  

	 “Schedule
		2.02(a)” has the meaning assigned to such term in Section 2.03(h)(viii)
		hereof.

	  

	 “Securities
		Act” means the U.S. Securities Act of 1933, as amended.

	  

	 “Service
		Providers” means the Persons providing services to the Issuer Group,
		including, without limitation, where the context admits, the Servicer and other
		Persons performing similar services or advising the Issuer Group.

	  

	 “Servicer
		Termination Event” means the occurrence of any of the events set forth in
		Section 10.02(b) of the Servicing Agreement.

	  

	 

		

		
 

		
		  4
		

	 

	  

	 “Standard
		of Care” has the meaning assigned to such term in Section 3.01 of the
		Servicing Agreement.

	  

	 “Standard
		of Performance” has the meaning assigned to such term in Section 3.01
		hereof.

	  

	 “Subsidiary”
		means, with respect to any Person, a corporation, company or other entity (i)
		more than 50% of whose outstanding shares or securities (representing the right
		to vote for the election of directors or other managing authority) are, or (ii)
		which does not have outstanding shares or securities (as may be the case in a
		partnership, joint venture or unincorporated association), but more than 50% of
		whose ownership interest representing the right to make decisions for such
		other entity is, now or hereafter owned or controlled, directly or indirectly,
		by such Person, but such corporation, company or other entity shall be deemed
		to be a Subsidiary only so long as such ownership or control
		exists.

	  

	 “U.S.
		Bankruptcy Code” has the meaning assigned to such term in
		Section 7.02(b)(iii) hereof.

	  

	 “Year”
		has the meaning assigned to such term in the Servicing Agreement.

	  

	 ARTICLE
		II

	  

	 APPOINTMENT;
		ADMINISTRATIVE SERVICES

	  

	 Section
		2.01 Appointment. (a)
		Each Issuer Group Member hereby appoints the Manager as the provider of the
		administrative and related services set forth in Section 2.03 hereof, the
		accounting services set forth in Section 2.04 hereof and the additional
		administrative services set forth in Sections 2.04, 2.05 and 2.06 hereof
		(collectively, the “Issuer Group Services”) to each Issuer Group
		Member on the terms and subject to the conditions set forth in this Agreement.
		In the event the Trustee or the Security Trustee receives any notice or
		instruction from the Manager with regard to any Issuer Group Services, the
		Trustee or the Security Trustee, as applicable, may regard such notice or
		instruction as given by the Issuer or any other Issuer Group Member unless
		previously notified otherwise in writing by the Issuer.

	  

	 (b) The
		Manager hereby accepts such appointments and agrees to perform the Issuer Group
		Services on behalf of the Issuer Group Members on the terms and subject to the
		conditions set forth in this Agreement. 

	  

	 (c) The
		Issuer Group Services do not include any service or matter that is the
		responsibility of the Servicer under the Servicing Agreement, the Reference
		Agent under the Reference Agency Agreement, the Cash Manager under the Cash
		Management Agreement (except as otherwise provided in the Cash Management
		Agreement or the Indenture) or the company secretaries of any Issuer Group
		Member.

	  

	 (d) The
		Issuer Group Services do not include any service or matter that falls under the
		categories of “investment business services” or “investment
		advice” under the Investment Intermediaries Act, 1995 or any other
		applicable provision of Irish law that would 

	  

	 

	 

	 
 

	 
		5
	 

	  

	 require
		such services to be performed by an entity that has obtained prior
		authorization from the Central Bank of Ireland.

	  

	 Section
		2.02 Limitations. (a)
		The Manager agrees (with respect to the Issuer Group Services) to comply with
		the terms of the articles of incorporation, bye-laws, trust agreements or
		similar constituting documents of each Issuer Group Member and all agreements
		to which any Issuer Group Member is a party (including all Related Documents);
		provided that
		copies of such documents and agreements are in the possession of, or can
		reasonably be obtained by, the Manager and, without prejudice to the foregoing,
		not to enter into, on behalf of any Issuer Group Member, any commitments, loans
		or obligations or charge, mortgage, pledge, encumber or otherwise restrict or
		dispose of the property or assets or expend any funds of any Issuer Group
		Member save, subject to the Indenture, (i) as expressly permitted by the terms
		of this Agreement or (ii) upon a Board Resolution. 

	  

	 (b) In
		connection with the performance of the Issuer Group Services (i) the Manager
		shall (A) have no responsibility for the failure of any other Person (other
		than any Person, other than the Trustee or Security Trustee, acting as a
		delegate of the Manager under this Agreement pursuant to Section 8.01 hereof)
		providing services directly to the Issuer Group to perform its obligations to
		the Issuer Group and (B) in all cases be entitled to rely upon the instructions
		of the Issuer Group with respect to any Issuer Group Services and upon notices,
		reports or other communications made by any Person providing services to the
		Issuer Group (other than any Affiliate of the Manager, except solely for this
		purpose GE Commercial Aviation Services shall not be an Affiliate of the
		Manager) and shall not be responsible for the accuracy or completeness of any
		such notices, reports or other communications except to the extent that the
		Manager has actual notice of any matter to the contrary and (ii) the Manager
		shall not be obligated to act in any manner that is reasonably likely to (A)
		violate any Applicable Law or (B) expose the Manager to any liabilities for
		which, in the Manager’s good faith opinion, adequate bond or indemnity has
		not been provided.

	  

	 (c)
		Subject to the limitations set forth in Section 2.02(a), in connection with the
		performance of the Issuer Group Services, the Manager is expressly authorized
		by the Issuer and each other Issuer Group Member, (i) to engage in and conclude
		commercial negotiations with the Persons providing services to the Issuer
		Group, including, without limitation, where the context admits, the Servicer,
		the Cash Manager, the Reference Agent and other Persons performing similar
		services or advising the Issuer Group (the “Service Providers”) and
		with their Responsible Officers, and (ii) after such consultation, if any, as
		the Manager deems necessary under the circumstances, to act on such Issuer
		Group Member’s behalf with regard to any and all matters requiring any
		action on the part of the Manager under the Servicing Agreement. The Issuer
		agrees that it will give the Manager and the Servicer 60 days prior Written
		Notice of any limitation or modification of the authority set forth in this
		Section 2.02(c).

	  

	 (d) The
		Manager may rely on the advice of any law firm, accounting firm, risk
		management adviser, tax adviser, insurance adviser, technical adviser, aircraft
		appraiser or other professional adviser appointed by the Issuer and any Person
		appointed in good faith by the Manager and shall not be liable for any claim by
		any Issuer Group Member to the extent that the Manager was acting in good faith
		upon the advice of any such persons.

	  

	 

		

		
 

		
		  6
		

	 

	  

	 (e)
		Notwithstanding the appointment of, and the delegation of authority and
		responsibility to, the Manager with respect to the Issuer Group Services, the
		Issuer and each other Issuer Group Member shall continue to have and exercise
		through its respective controlling trustees or board real and effective central
		control and management of all matters related to its ongoing business,
		operations, assets and liabilities, subject to matters that are expressly the
		responsibility of the Manager in accordance with the terms of this Agreement,
		and each Issuer Group Member shall at all times conduct its separate ongoing
		business in such a manner as the same shall at all times be readily
		identifiable from the separate business of the Manager, and none of the Issuer
		Group Members is merely lending its name to decisions taken by
		others.

	  

	 (f) Each
		Issuer Group Member hereby appoints the Issuer to act as its representative
		and, having been duly authorized to do so by each of its Subsidiaries, as the
		representative of each of its Subsidiaries with respect to any matter in
		respect of which any Issuer Group Member, or the Issuer Group as a whole, is
		required to or permitted to take any action pursuant to the terms of this
		Agreement. Accordingly, in connection with the performance of the Issuer Group
		Services, the Manager shall in all cases be entitled to rely on the
		instructions (or other actions) of the Issuer as representative of each Issuer
		Group Member.

	  

	 Section
		2.03 Issuer
		Group Services. The
		Manager hereby agrees to perform and provide the following services for each
		Issuer Group Member and its respective governing bodies:

	  

	 (a)
		administrative services:

	  

	 (i)
		except in such instances in which such preparation and distribution is required
		to be done by another party by Applicable Law or by another Service Provider
		under the Indenture or the Related Documents, preparation and distribution, at
		such time as shall be agreed with the Manager, of draft trustees or board
		meeting agendas and any other papers required in connection with such
		meetings;

	  

	 (ii)
		maintaining, or monitoring the maintenance of, the books, records, registers
		and associated filings of each Issuer Group Member, other than those required
		under Applicable Law to be maintained by the officers of the
		Issuer;

	  

	 (iii)
		providing any administrative assistance reasonably necessary to assist any
		Issuer Group Member in carrying out its obligations under the Indenture or the
		Related Documents, including providing timely notice of decisions to be made,
		or actions to be taken, under any of the Related Documents; provided that if
		the obligations of any Issuer Group Member under any of the Related Documents
		are only required upon receipt of notice to such Issuer Group Member or the
		Manager, then the Manager shall provide such administrative assistance only to
		the extent it has received such notice or is otherwise aware of such
		obligations and shall provide a copy of such notice to the Policy
		Provider;

	  

	 (iv)
		assisting the Issuer in arranging for directors and officers liability
		insurance for and on behalf of the Issuer and, where appropriate, each other
		Issuer Group Member;

	  

	 

		

		
 

		
		  7
		

	 

	  

	 (v) (A)
		procuring, at the direction of the Board, and coordinating the advice of, legal
		counsel, accounting, tax and other professional advisers at the expense of the
		relevant Issuer Group Member, to assist such Issuer Group Member in carrying
		out its obligations and (B) supervising, in accordance with instructions from
		such Issuer Group Member, such legal counsel, accounting, tax and other
		advisers; and

	  

	 (vi)
		providing assistance to the Servicer with respect to matters for which such
		assistance is contemplated by the Servicing Agreement or is reasonably
		necessary in order for the Servicer to perform its duties in accordance with
		the Servicing Agreement;

	  

	 (b) to
		the extent that (i) the following services are not provided by the other
		Service Providers, and (ii) the relevant information is in the possession of,
		or can be reasonably obtained by, the Manager to act as liaison with each of
		the Rating Agencies and the Policy Provider with respect to any decisions on
		behalf of the Issuer Group requiring a Rating Agency Confirmation or the
		consent of the Policy Provider, including, without limitation, informing each
		of the Rating Agencies and the Policy Provider from time to time of any
		material changes in the Portfolio, coordinating with the Issuer Group and the
		Service Providers and providing each of the Rating Agencies and the Policy
		Provider with such statistical and other information as they may from time to
		time reasonably request and to provide any notice to each of the Rating
		Agencies and the Policy Provider that the Issuer is required to provide
		pursuant to the Servicing Agreement or the Indenture (such information to be
		provided at the Issuer Group’s expense to the extent that providing such
		information requires services that are materially greater in scope than those
		being provided pursuant to the express terms of this Agreement);

	  

	 (c)
		providing assistance to the Issuer Group in procuring Lessee consents,
		novations and other documentation and in taking all other actions necessary in
		connection with the reissue or amendment of letters of credit;

	  

	 (d)
		providing assistance to the Issuer Group in the execution of (1) the
		acquisition of Pledged Shares and/or Aircraft under the Asset Purchase
		Agreement, (2) the re-lease and/or sale of the Aircraft, (3) the acquisition of
		Additional Aircraft, (4) Aircraft Conversions financed with the proceeds of
		Additional Notes or contributions from holders of the Class A Shares, (5)
		Refinancing Notes and (6) financing transactions relating to the Issuer Group
		after the Initial Closing Date, including:

	  

	 (i)
		coordinating with the Service Providers, legal and other professional advisers
		to monitor the protection of the Issuer Group’s interests and rights and
		coordinating the execution of documentation required at closings;

	  

	 (ii)
		providing qualified personnel to attend and provide administrative support
		(including the preparation of any certificates required pursuant to the
		Servicing Agreement and the Indenture) at the closings in connection with the
		acquisition of Pledged Shares and/or Aircraft under the Asset Purchase
		Agreement, sales or re-leases of the Aircraft and the acquisition of any
		Additional Aircraft, if required (it being understood that the Manager will not
		be obligated to provide legal counsel or legal or technical services to the
		Issuer Group);

	  

	 

		

		
 

		
		  8
		

	 

	  

	 (iii)
		coordinating with the Issuer Group and the Service Providers and assisting in
		the management of the closing process so that closings will occur on a timely
		basis;

	  

	 (iv)
		providing all necessary administrative support to complete any documentation
		and other related matters; and

	  

	 (v)
		appointing counsel and other professional advisers to represent the Issuer
		Group in connection with any such closings;

	  

	 (e)
		based on information produced or provided to it, preparing, filing and/or
		distributing, with the assistance of outside counsel and auditors or other
		professional advisors, if appropriate, all reports to be prepared, filed and/or
		distributed by any Issuer Group Member or its governing bodies, subject to the
		approval of the Board in the case of any annual information statement or
		quarterly information statement, including:

	  

	 (i)
		filings (including, without limitation, Uniform Commercial Code filings,
		filings with the FAA and filings pursuant to the Cape Town Convention) any
		Issuer Group Member is required to make in various jurisdictions and preparing
		such filings or monitoring counsel and advisers in connection with the
		preparation and filing of such materials;

	  

	 (ii)
		reports required or recommended by the Board to be distributed to investors
		(including press releases), and managing investor relations on behalf of the
		Issuer Group, and preparing or arranging for the preparation and distribution
		of such reports at the Issuer Group’s expense; and

	  

	 (iii)
		reports required to be filed with any Governmental Authorities, and preparing
		on behalf of any Issuer Group Member, or arranging for the preparation of, and
		arranging for the filing of any reports required to be filed with any other
		entity in order for such Issuer Group Member not to be in violation of
		Applicable Law or any applicable covenants; 

	  

	 (f) with
		respect to amendments:

	  

	 (i)
		reporting to the Board on the substance of any proposed amendments to any
		Related Documents known to the Manager; and

	  

	 (ii)
		subject to approval by the appropriate controlling trustees or board,
		coordinating with the Issuer Group’s legal counsel, the other parties
		thereto and their counsel the preparation and execution of any amendments to
		the Related Documents (other than amendments relating to the Aircraft or the
		Leases), and providing assistance in the implementation of such
		amendments;

	  

	 (g) to
		the extent reasonably requested by the Servicer, coordinating and providing
		assistance on behalf of the Issuer Group with the Servicer in the performance
		of the Servicer’s obligations under the Servicing Agreement;

	 
		 

		

		
 

		
		  9
		

	 

	  

	 (h)
		providing assistance to the Issuer with respect to matters for which action by
		the Issuer is required under the Servicing Agreement or the Indenture,
		including such assistance that may be necessary for the Issuer to:

	  

	 (i)
		comply with Sections 6.08, 7.03(a)(i) and 7.04 of the Servicing
		Agreement;

	  

	 (ii)
		comply with Sections 5.02, 5.03 and 6.11 of the Indenture;

	  

	 (iii)
		provide such instructions to the Servicer as the Servicer may require in
		interpreting the Indenture, the Concentration Limits and Annex 2 to the
		Servicing Agreement;

	  

	 (iv)
		direct the Servicer to amend the minimum hull and liability insurance coverage
		amounts in accordance with Annex 1 to the Servicing Agreement;

	  

	 (v)
		direct the Servicer as to whether settlement offers received by the Servicer
		with respect to claims for damage or loss in excess of $10,000,000 with respect
		to an Aircraft Asset are acceptable;

	  

	 (vi)
		review and request such periodic and other reports as the Servicer is obligated
		to provide under the Servicing Agreement;

	  

	 (vii)
		provide the Servicer with such information as the Servicer may reasonably
		request in connection with the Concentration Limits and certify to the Servicer
		whenever the proposed Aircraft-related transactions will result in the
		violation of such Concentration Limits;

	  

	 (viii)
		advise the Servicer as required by Section 3(c) of Schedule 2.02(a) of the
		Servicing Agreement (“Schedule 2.02(a)”); and

	  

	 (ix)
		request market research industry information from the Servicer in regard to
		valuations of Aircraft Assets in accordance with Section 6.1 of Schedule
		2.02(a);

	  

	 (i)
		informing the Board as soon as is reasonably practicable if the Manager
		believes that (i) net revenues generated by the Leases will be insufficient to
		satisfy the payment obligations of the Issuer Group and (ii) an Event of
		Default will result from such insufficiency, and to advise the Board as to any
		appropriate action to be taken (subject to the provisions of the Related
		Documents) with respect to such insufficiency and to cause the actions directed
		by the Board to be implemented so as to avoid an Event of Default, if it is
		possible to do so;

	  

	 (j)
		overseeing the general operation of any credit or liquidity enhancement
		facility provided for the benefit of the Issuer, including without limitation
		each Cash Collateral Account, the Initial Liquidity Facility and each Eligible
		Liquidity Facility (including without limitation monitoring the amounts
		committed and available for drawing, and outstanding and required to be repaid,
		under each such facility);

	  

	 

		

		
 

		
		  10
		

	 

	  

	 (k)
		determining whether it is necessary or appropriate at any time that the Issuer
		make a drawing under any back-up letter of credit of which the Issuer is the
		beneficiary and, if so, to administer such drawing on the Issuer’s
		behalf;

	  

	 (l)
		assisting in compliance by each Issuer Group Member with its obligations under
		Section 2.07 of the Security Trust Agreement with respect to the Non-Trustee
		Accounts, including notifying and instructing each Obligor (as defined in the
		Security Trust Agreement) to make payments directly to a Non-Trustee Account
		and seeking to procure bank consent letters in respect of such Non-Trustee
		Account; 

	  

	 (m)
		providing all necessary assistance and information reasonably available to the
		Manager to legal and other professional advisers to the Issuer Group in
		connection with any claim, action, proceeding or petition brought against any
		Issuer Group Member; 

	  

	 (n)
		establishing and maintaining on behalf of the Issuer a website and arrange for
		the publication thereon of all reports and other documents required or
		recommended by the Board to be distributed to investors; and

	  

	 (o)
		preparing, in a timely manner, the reports required by Section 2.14 of the
		Indenture based upon information supplied to the Manager by the Service
		Providers, where applicable, and provide such reports to the Trustee and the
		other Persons indicated in that section.

	  

	 Section
		2.04 Accounting
		Services. The
		Manager hereby agrees to perform and provide the following accounting
		services:

	  

	 (a)
		Budgeting
		Process. The
		Manager shall, in accordance with the procedures, policies and guidelines
		described below and on the basis of information generated by the Manager and
		information provided by the Service Providers and the Issuer
		Group:

	  

	 (i) in
		respect of each Year during the term of the Servicing Agreement (other than
		with respect to the fiscal year commencing on the Initial Closing Date), and on
		behalf of the Issuer Group, prepare and deliver to the Servicer, no later than
		the November 15th immediately preceding the commencement of such Year a
		proposed Lease Operating Budget and a proposed Aircraft Asset Expenses Budget
		for such Year together with reasonably detailed supporting information and the
		assumptions underlying such proposed Lease Operating Budget and Aircraft Asset
		Expenses Budget, such proposed Lease Operating Budget and Aircraft Asset
		Expenses Budget to be based, in part, on the information provided by the
		Servicer pursuant to Section 7.03(c) of the Servicing
		Agreement;

	  

	 (ii) on
		behalf of the Issuer Group, review, discuss and negotiate with the Servicer
		such proposed Lease Operating Budgets and Aircraft Asset Expenses Budgets, and
		make such adjustments proposed by the Servicer as the Manager, in consultation
		with the Board and with due regard for current market conditions, may deem
		appropriate; and 

	  

	 (iii)
		submit to the Servicer no later than the November 10th immediately preceding
		the commencement of such Year the Approved Budgets together with reasonably
		

	  

	 

	 

	 
 

	 
		11
	 

	  

	 detailed
		information regarding the Issuer’s underlying assumptions and provide a
		copy of such Approved Budgets to the Policy Provider.

	  

	 (b)
		Management
		Accounts and Financial Statements. The
		Manager shall, in accordance with the procedures, policies and guidelines
		described below and on the basis of information generated by the Manager and
		information provided by the Service Providers and the Issuer
		Group:

	  

	 (i)
		establish an accounting system and maintain the accounting ledgers of and for
		each Issuer Group Member in accordance with GAAP unless otherwise required by
		Applicable Law and specified by the Board (collectively, the
		“Ledgers”);

	  

	 (ii)
		prepare and deliver (within 40 days after the end of the relevant Quarter or,
		if the end of such Quarter coincides with the end of a Year, within 90 days
		after the end of such Year), with respect to the Issuer Group, on a
		consolidated basis, a draft balance sheet and draft statement of changes in
		shareholders’ equity or residual trust interest as of the end of each
		Quarter and Year, as applicable, and draft statements of income and cash flows
		for each Quarter and Year, as applicable (the “Consolidated Quarterly
		Draft Accounts”);

	  

	 (iii)
		prepare and deliver (within 40 days after the end of the relevant Quarter or,
		if the end of such Quarter coincides with the end of a Year, within 90 days
		after the end of such Year), with respect to the Issuer Group on a combined
		basis and such of the Issuer Group Members as specified by the Board in a
		written schedule provided to the Manager (which schedule may be updated by the
		Board to the Manager delivered at least 30 days prior to the commencement of
		the relevant Quarter) a draft balance sheet and statement of changes in
		shareholders’ equity or residual trust interest as of the end of each
		Quarter and Year, as applicable, with respect to such Issuer Group Member and
		draft statements of income and cash flows for such Quarter and Year, as
		applicable (the “Consolidating Quarterly Draft Accounts” and,
		together with the Consolidated Quarterly Draft Accounts the “Draft
		Accounts”). The Board shall specify the applicable legal requirements
		mandating the preparation of such Consolidating Quarterly Draft Accounts in the
		written schedule provided to the Manager pursuant to this section;

	  

	 (iv) as
		required by the Board, arrange and manage the quarterly review of the Draft
		Accounts by the Issuer Group’s auditors;

	  

	 (v)
		arrange for, coordinate with and assist the Issuer Group’s auditors in
		preparing annual audits;

	  

	 (vi)
		prepare or arrange for the preparation of and arrange for the filing of the
		Issuer Group’s tax returns in conjunction with the Issuer Group’s tax
		advisers after submission to the Board to the extent required by the Board or
		Applicable Law;

	  

	 (vii)
		liaise with the Servicer for the purpose of preparing the monthly and quarterly
		reports in accordance with Section 9 of Schedule 2.02(a); and

	  

	 

		

		
 

		
		  12
		

	 

	  

	 (viii)
		compare the expected cash flows of the Issuer Group and the budgets to actual
		results.

	  

	 (c)
		Other
		Reports. The
		Manager shall prepare the Draft Accounts in accordance with GAAP unless
		otherwise required by Applicable Law and specified by the Board. In connection
		with the preparation of the Consolidated Quarterly Draft Accounts, the Manager
		will, provide to the Board, at such times as the Board may require, a review
		report (as defined by the Statements on Standards for Accounting and Review
		Services issued by the American Institute of Certified Public Accountants) of
		the Issuer Group’s independent public accountants with respect to the
		financial statements of such Issuer Group Members for, or as of the end of,
		such Quarter, including in such report such accountants’ statement that,
		based on its review of such financial statements, it is not aware of any
		material modifications that should be made to such financial statements in
		order for them to be in conformity with GAAP or other applicable accounting
		principles; provided that,
		with respect to such financial statements for, or as of the end of, any Quarter
		(other than the last Quarter of any Year), in the event that the Issuer Group
		does not include (or cause to be included) any material disclosure required by
		GAAP or other applicable accounting principles to be included within footnotes
		to such financial statements, such review report may be qualified solely by
		stating that the only modification that should be made to such financial
		statements in order for them to be in conformity with GAAP or other applicable
		accounting principles is the inclusion of such disclosure; provided,
		further, that
		such qualification may not relate to any footnote to such financial
		statements.

	  

	 (d)
		Instructions. The
		Manager shall be entitled to request instructions from the Board as to general
		guidelines or principles to be followed in preparing Draft Accounts and as to
		amending or supplementing any such guidelines or principles. 

	  

	 Section
		2.05 Additional
		Services. The
		Manager will provide additional Issuer Group Services reasonably requested by
		the Board, including (a) providing assistance to the Hedge Services Provider as
		reasonably requested and (b) undertaking efforts to avoid any adverse change in
		the tax status of any Issuer Group Member. In addition, upon a request by any
		Issuer Group Member, the Manager will take such other actions as may be
		appropriate to facilitate such Issuer Group Member’s business operations
		and assist the relevant board of directors or controlling trustees in carrying
		out their obligations; provided that
		the Manager will not be obligated or permitted to take any action that might
		reasonably be expected to result in the business of such Issuer Group Member
		ceasing to be separate and readily identifiable from, and independent of, the
		Manager, and any of its Affiliates.

	  

	 Section
		2.06 Additional
		Aircraft. In the
		event that the Issuer Group shall acquire any Additional Aircraft, the Manager
		hereby agrees to provide the same Issuer Group Services with respect to all
		such Additional Aircraft.

	  

	 Section
		2.07 New
		Subsidiaries. The
		Manager shall be responsible for coordinating with outside legal counsel,
		auditors, tax advisers and other professional advisers with respect to all
		corporate and administrative matters relating to the formation, operation,
		corporate affairs and related matters with respect to all Subsidiaries which
		are or may become members of the Issuer Group, including identifying such
		outside advisers, a potential company secretary and candidates

	 
		
		   

		  

		  
 

		  
			 13
		  

		   
 
 

	  for
		director or trustee to the extent necessary, and shall be permitted to incur
		expenses in respect of such Subsidiaries without the Issuer Group’s
		consent up to such aggregate amount as shall be authorized by the Board from
		time to time. To the extent that the Manager shall deem it necessary or
		desirable (or shall have been instructed by the Servicer that it is necessary
		or advisable) in order for the Issuer Group to carry on its business, the
		Manager shall have the authority to assist in the formation of new Subsidiaries
		of the Issuer and to appoint any officer or director to any such Subsidiary
		without the consent of the Issuer Group, subject to the provisions of the
		Indenture and the Security Trust Agreement; provided that,
		in the case of directors, such directors are the same directors of the Issuer
		then in office unless otherwise required by applicable local law mandating a
		particular citizenship for directors. The Manager and its personnel may act as
		company secretary for any Subsidiary of the Issuer.

	  

	 Section
		2.08 The
		Issuer Group Responsibility. (a) The
		obligations of the Manager hereunder are limited to those matters that are
		expressly the responsibility of the Manager in accordance with the terms of
		this Agreement. Notwithstanding the appointment of the Manager to perform the
		Issuer Group Services, each Issuer Group Member shall remain responsible for
		all matters and decisions related to its business, operations, assets and
		liabilities.

	  

	 (b)
		Without derogating from the authority and responsibility of the Manager with
		respect to the performance of certain of the Issuer Group Services as set forth
		in this Agreement, it is hereby expressly agreed and acknowledged that the
		Manager is not authorized or empowered to make or enter into any agreement,
		contract or other legally binding arrangement, in respect of or relating to the
		business or affairs of any Issuer Group Member, or pledge the credit of, incur
		any indebtedness on behalf of or expend any funds of any Issuer Group Member
		other than as expressly permitted in accordance with the terms of this
		Agreement, all such authority and power being reserved to the appropriate
		Issuer Group Member or the Security Trustee, as the case may be.

	  

	 ARTICLE
		III

	  

	 STANDARD
		OF PERFORMANCE; LIABILITY AND INDEMNITY

	  

	 Section
		3.01 Standard
		of Performance. The
		Manager will devote the same amount of time and attention to, and will be
		required to exercise the same level of skill, care and diligence in the
		performance of, its services as it would if it were administering such services
		on its own behalf and perform the services required hereunder consistent with
		customary practices of an administrative agent that provides comparable
		services for a securitization of commercial jet aircraft and related assets
		(the “Standard of Performance”).

	  

	 Section
		3.02 Liability
		and Indemnity. (a) The
		Manager shall not be liable for any Losses or Taxes to or of, or payable by any
		Issuer Group Member at any time from any cause whatsoever or any Losses or
		Taxes directly or indirectly arising out of or in connection with or related to
		the performance by the Manager of this Agreement unless (i) such Losses or
		Taxes are the result of the Manager’s (or any Manager Delegate’s) own
		negligence, recklessness, willful misconduct, deceit or fraud or that of any of
		its directors, officers or employees, as the case may be or (ii) such Losses
		are directly caused by any representation or warranty by the Manager set
		

	  

	 

	 

	 
 

	 
		14
	 

	  

	 forth in
		Section 4.02 having proven to be false on the date hereof or a breach by the
		Manager of the express terms of this Agreement.

	  

	 (b)
		Notwithstanding anything to the contrary set forth in any other agreement to
		which any Issuer Group Member is a party, the Issuer and the other Issuer Group
		Members do hereby assume liability for and do hereby jointly and severally
		agree to indemnify, reimburse and hold harmless on an After-Tax Basis the
		Manager, its directors, officers, employees and agents and each of them from
		any and all Losses or Taxes that may be imposed on, incurred by or asserted
		against any of them arising out of, in connection with or related to the
		Manager’s performance under this Agreement (including any Losses or Taxes
		incurred by the Manager as a result of indemnifying any Person to whom it shall
		have delegated its obligations hereunder in accordance with Section 8.01
		hereof, but only to the extent the Manager would have been indemnified had it
		performed such obligations), except as a result of the negligence,
		recklessness, willful misconduct, deceit or fraud of the Manager (or any
		Manager Delegate) or any of its directors, officers or employees or as a result
		of any representation or warranty by the Manager set forth in Section 4.02
		having proven to be false on the date hereof or a breach by the Manager of the
		express terms of this Agreement. This indemnity shall not apply
		to:

	  

	 (i)
		Taxes imposed on net income by the revenue authorities of Ireland or Bermuda in
		respect of any payment by any Issuer Group Member to the Manager due to the
		performance of the Issuer Group Services; and

	  

	 (ii)
		Taxes imposed on net income of the Manager by any Government Authority other
		than the revenue authorities of Bermuda or Ireland to the extent such Taxes
		would not have been imposed in the absence of any connection of the Manager
		with such jurisdiction imposing such Taxes other than any connection that
		results from the performance by the Manager of its obligations under this
		Agreement. This indemnity shall expressly inure to the benefit of any director,
		officer, agent or employee of the Manager now existing or in the future and to
		the benefit of any successor of the Manager and shall survive the expiration of
		this Agreement.

	  

	 (c) The
		Manager agrees to indemnify, reimburse and hold harmless on an After-Tax Basis
		the Policy Provider and the Holders of the Notes for any Losses whatsoever
		which they or any of them may incur or be subject to in consequence of (x) the
		performance of the Issuer Group Services to the extent such Losses arise due to
		the willful misconduct, recklessness, negligence (or, in the case of the
		Replacement Manager, gross negligence), deceit or fraud of the Manager (or any
		Manager Delegate) or any of its directors, officers or employees, as the case
		may be, (y) a breach by the Manager (or any Manager Delegate) of the express
		terms of this Agreement (other than the performance of the Issuer Group
		Services but including the undertakings in Section 4.01 hereof) and (z) any
		representation or warranty by the Manager set forth in Section 4.02 hereof
		having proven to be false on the date hereof; provided that
		this indemnity shall not apply and the Manager shall have no liability in
		respect of Losses to the extent that they arise from (i) the willful
		misconduct, deceit or fraud of any Issuer Group Members or their respective
		directors, trustees or agents, (ii) any breach by the Manager of its
		obligations under this Agreement to the extent such breach is a result of a
		Service Provider’s failure to perform its obligations to the Issuer Group
		or a failure by the Issuer Group to comply 

	  

	 

	 

	 
 

	 
		15
	 

	  

	 with its
		obligations under this Agreement, (iii) any action that the Issuer Group
		requires the Manager to take pursuant to a direction but only to the extent
		that the Manager takes such action in accordance with such direction and in
		accordance with the provisions hereof, (iv) a refusal by the Issuer Group to
		take action upon a recommendation made in good faith by the Manager in
		accordance with the terms hereof or (v) in the case of Losses incurred by the
		Holders of the Notes, this indemnity shall be only for Losses that adversely
		affect the timing or amount of payments on the Notes.

	  

	 (d) The
		Manager agrees to indemnify, reimburse and hold harmless on an After-Tax Basis
		each of the Trustee, the Security Trustee and the Operating Bank and their
		respective trustees, directors, officers and agents for any Losses whatsoever
		which they or any of them may incur or be subject to in consequence of any
		breach of the terms of this Agreement by the Manager (or any Manager Delegate),
		the failure of any representation or warranty of the Manager set forth in
		Section 4.02 hereof to be true and correct on the date hereof or the willful
		misconduct, recklessness, gross negligence, deceit or fraud of the Manager (or
		any Manager Delegate) or any of its directors, officers or employees, as the
		case may be; provided, however, that this indemnity shall not apply and the
		Manager shall have no liability in respect of Losses to the extent that they
		arise from (i) the willful misconduct, deceit or fraud of the Trustee or
		Security Trustee, or their respective directors, trustees or agents, (ii) any
		breach by the Manager of its obligations under this Agreement to the extent
		such breach is solely a result of a Service Provider’s failure to perform
		its obligations to the Issuer Group or a failure solely by the Issuer Group to
		comply with its obligations under this Agreement, (iii) any action that the
		Trustee or the Security Trustee requires the Manager to take pursuant to a
		direction but only to the extent that the Manager takes such action in
		accordance with such direction and in accordance with the provisions hereof or
		(iv) a refusal by the Trustee or the Security Trustee to take action upon a
		recommendation made in good faith and consistent with the provisions relating
		to the Trustee or the Security Trustee under the Related Documents by the
		Manager in accordance with the terms hereof.

	  

	 (e) The
		Manager, the Issuer and the other Issuer Group Members, the Trustee and the
		Security Trustee acknowledge and agree that the terms of this Agreement
		contemplate that the Manager shall receive the Relevant Information in order
		for the Manager to make required credit and debit entries and to make the
		calculations and supply the information and reports required herein, and that
		the Manager will do the foregoing if and to the extent such information is so
		provided by such relevant parties and on the basis of such information, without
		undertaking any independent verification or recalculation of such information.
		

	  

	 ARTICLE
		IV

	  

	 MANAGER
		UNDERTAKINGS

	  

	 Section
		4.01 Manager
		Undertakings. The
		Manager hereby covenants with the Issuer Group that during the term of this
		Agreement it will conduct its business such that it is a separate and readily
		identifiable business from, and independent of, each Issuer Group Member and
		further covenants as follows:

	  

	 

		

		
 

		
		  16
		

		 
 

	 (a) if
		the Manager receives any money whatsoever, which money belongs to any Issuer
		Group Member, the Trustee or the Security Trustee or is to be paid to any
		Issuer Group Member, the Trustee or the Security Trustee or into any account
		pursuant to any Related Document or otherwise, it will hold such money in trust
		for such Issuer Group Member, the Trustee or the Security Trustee, as the case
		may be, and shall keep such money separate from all other money belonging to
		the Manager and shall as promptly as practicable thereafter pay the same into
		the relevant account in accordance with the terms thereof without exercising
		any right of setoff it may have; 

	  

	 (b) it
		will comply with any proper directions, orders and instructions which any
		Issuer Group Member may from time to time give to it in accordance with the
		provisions of this Agreement and the Indenture; provided that
		during the continuance of any Event of Default, the Manager shall comply only
		with the instructions of the Security Trustee as to all Issuer Group
		Services;

	  

	 (c) it
		will not knowingly fail to comply with any legal requirements in any material
		respect in the performance of the Issuer Group Services;

	  

	 (d) it
		will make all payments required to be made by it at any time and from time to
		time pursuant to this Agreement on the required date for payment thereof and
		shall turn over any amounts owed to the Security Trustee, the Issuer, any other
		Issuer Group Member or the Trustee without set-off or
		counterclaim;

	  

	 (e) it
		will not take any steps for the purpose of procuring the appointment of any
		administrative receiver or the making of an administrative order or for
		instituting any bankruptcy, reorganization, arrangement, insolvency, winding
		up, liquidation, composition or any like proceedings under the laws of any
		jurisdiction in respect of any Issuer Group Member or in respect of any of
		their respective liabilities, including, without limitation, as a result of any
		claim or interest of the Manager;

	  

	 (f) it
		will cooperate with each Issuer Group Member and its respective trustees,
		directors, officers and agents (with respect to the Issuer Group Services when
		no Event of Default has occurred and is continuing) and the Security Trustee
		and the Trustee (with respect to the Issuer Group Services following the giving
		of a Default Notice or during the continuance of an Acceleration), including by
		providing such information as may reasonably be requested, to permit such
		Persons to monitor the Manager’s compliance with its obligations under
		this Agreement;

	  

	 (g) it
		will observe all corporate formalities necessary to remain a legal entity
		separate and distinct from, and independent of, each Issuer Group
		Member;

	  

	 (h) it
		will maintain its assets and liabilities separate and distinct from each Issuer
		Group Member in such a manner that is not difficult to segregate, identify or
		ascertain; 

	  

	 (i) it
		will maintain records, books, accounts and minutes separate from those of each
		Issuer Group Member (except as otherwise set forth in the Related
		Documents);

	  

	 

		

		
 

		
		  17
		

	 

	  

	 (j) it
		will pay its obligations in the ordinary course of its business as a legal
		entity separate from each Issuer Group Member, except as otherwise required or
		permitted under the Indenture and the Security Trust Agreement;

	  

	 (k) it
		will keep its funds separate and distinct from the funds of each Issuer Group
		Member, and it will receive, deposit, withdraw and disburse such funds
		separately from the funds of each Issuer Group Member;

	  

	 (l) it
		will conduct its business in its own name, and not in the name of any Issuer
		Group Member;

	  

	 (m) it
		will not pay, assume, guarantee or become liable for any debt of, or otherwise
		pledge its assets for the benefit of, any Issuer Group Member, except as
		otherwise permitted under the Related Documents;

	  

	 (n) it
		will not hold out that it is a division of any Issuer Group Member or that any
		Issuer Group Member is a division of it;

	  

	 (o) it
		will not induce any third party to rely on the creditworthiness of any Issuer
		Group Member in order that such third party will be induced to contract with
		it;

	  

	 (p)
		correct any known misunderstanding regarding its separate
		identity;

	  

	 (q)
		maintain adequate capital in light of its contemplated business purpose,
		transactions and liabilities;

	  

	 (r)
		except with respect to any grantor trust, cause its board of directors or
		managers, as applicable, to meet at least annually or act pursuant to written
		consent and keep minutes of such meetings and actions;

	  

	 (s) it
		will not enter into any agreements between it and any Issuer Group Member that
		are more favorable to either party than agreements that the parties would have
		been able to enter into at such time on an arm’s-length basis with a
		non-affiliated third party, other than any Related Documents in effect on the
		date hereof (it being understood that the parties hereto do not intend by this
		covenant to ratify any self-dealing transactions); 

	  

	 (t) it
		will (i) forward promptly to the Servicer a copy of any material communication
		received from any Person in relation to any Lease or Aircraft; (ii) grant such
		access to the Servicer to its books of account, documents and other records and
		to its employees as may be reasonably necessary for the Servicer to perform its
		obligations in respect of any Lease or Aircraft under the Servicing Agreement;
		provided that
		the Servicer shall not have access to the minutes of the Manager’s board
		meetings and other confidential business information; and (iii) execute and
		deliver such documents and do such acts and things as the Servicer may
		reasonably request in order for the Servicer to perform its obligations under
		the Servicing Agreement; 

	  

	 

		

		
 

		
		  18
		

		 
 

	 (u) it
		shall perform all services in respect of the Aircraft Assets subject to, and in
		compliance with, the constraints and restrictions set forth in the Indenture;
		provided that,
		for the avoidance of doubt, the Manager shall not be required to meet any of
		the financial obligations of the Issuer under the Indenture; and

	  

	 (v)
		solely in the case of Genesis Lease Limited as Manager, it shall promptly
		notify the Issuer Group and the Policy Provider in writing if at any time any
		of the Key Personnel ceases to be an employee of the Manager. 

	  

	 Section
		4.02 Representations
		of the Manager. The
		Manager represents and warrants to the Issuer as follows: 

	  

	 (a)
		Authority. The
		Manager has all requisite power and authority to execute this Agreement and to
		consummate the transactions contemplated by this Agreement and to perform its
		obligations under this Agreement. All corporate acts and other proceedings
		required to be taken by the Manager to authorize the execution, delivery and
		performance of this Agreement and the consummation of the transactions
		contemplated by this Agreement and the performance of its obligations
		contemplated under this Agreement have been or on or before the date of
		entering into this Agreement will have been duly and properly
		taken.

	  

	 (b)
		Due
		Execution and Delivery. This
		Agreement has been duly and validly executed and delivered by the Manager and
		constitutes a legal, valid and binding obligation of the Manager, enforceable
		against it in accordance with its terms, except as such enforceability may be
		limited by (a) bankruptcy, insolvency, reorganization, moratorium or similar
		laws of general applicability affecting the enforcement of creditors’
		rights and (b) the application of general principles of equity (regardless of
		whether such enforceability is considered in a proceeding in equity or at law).
		

	  

	 (c)
		No
		Conflict. None
		of the execution and delivery of this Agreement by the Manager or the
		consummation of the transactions contemplated by this Agreement or performance
		by the Manager of any of its obligations under this Agreement, except in each
		case where such execution, consummation or performance could not reasonably be
		expected to result in a material adverse effect on the ability of the Manager
		to perform its obligations hereunder will (i) violate any provisions of the
		constituent documents of the Manager, (ii) violate any order, writ, injunction,
		judgment or decree applicable to the Manager or any of its properties or
		assets, (iii) violate in any material respect any Applicable Law or (iv) result
		in any conflict with, breach of or default (or give rise to any right of
		termination, cancellation or acceleration) under, any of the terms, conditions
		or provisions of any note, bond, mortgage, indenture, warrant or other similar
		instrument or any license, permit, material agreement or other material
		obligation to which the Manager is a party or by which the Manager or any of
		its properties or assets may be bound. The Manager is not subject to Competitor
		Control.

	  

	 (d)
		No
		Necessary Approval. No
		action, consent or approval by, or filing with, any Governmental Authority or
		any other regulatory or self-regulatory body, or any other Person, is required
		in connection with the execution, delivery or performance by the Manager of
		this Agreement or the consummation by the Manager of the transactions
		contemplated by this 

	  

	 

	 

	 
 

	 
		19
	 

	  

	 Agreement,
		except where the failure to do so, individually or in the aggregate, could not
		reasonably be expected to result in a material adverse effect on the ability of
		the Manager to perform its obligations hereunder. 

	  

	 Section
		4.03 Competitors. (a)
		Notices. The
		Manager hereby agrees that it will give the Issuer, the Replacement Manager,
		the Policy Provider and the Servicer Written Notice of the Manager being
		subject to Competitor Control by the close of the third Business Day following
		the date on which such Competitor Control occurs. The Manager also agrees to
		give the Issuer, the Replacement Manager and the Servicer Written Notice
		promptly after a responsible officer of the Manager obtains knowledge that a
		Competitor (as defined in the Servicing Agreement) controls or beneficially
		owns, directly or indirectly, 10% or more of any class of securities of the
		Manager (other than promissory notes or loan certificates or pass-through
		certificates in respect of promissory notes or loan certificates). The Manager
		agrees that it shall cooperate and coordinate with the Replacement Manager to
		enable the Replacement Manager to take over the duties of the Manager under
		this Agreement upon Competitor Control as contemplated by Section 7.02(a)
		hereof. Such cooperation and coordination shall include taking such actions as
		the Replacement Manager shall reasonably request and shall be at the
		Manager’s expense. 

	  

	 (b)
		Replacement
		Manager. The
		Replacement Manager hereby agrees that it will give the Issuer, the Manager,
		the Policy Provider and the Servicer Written Notice of the Replacement Manager
		being subject to Competitor Control by the close of the third Business Day
		following the date on which such Competitor Control occurs. Upon receipt of
		such Written Notice by the Issuer, the Manager, the Policy Provider and the
		Servicer, the Replacement Manager shall resign and a successor Replacement
		Manager shall be appointed by the Security Trustee.

	  

	 (c)
		Confidentiality. The
		Manager agrees to be bound by and perform the obligations of the Manager under
		the Servicing Agreement, including the obligations set forth in Section 13.04
		of the Servicing Agreement. 

	  

	 Section
		4.04 Access. The
		Manager, at such times as the Policy Provider may reasonably request (which
		requests shall be no more frequent than two times a year if an Event of Default
		(or an event that would become an Event of Default upon notice or the passage
		of time) or Servicer Termination Event has not occurred and is not continuing,
		shall make available to the Policy Provider and its agents (including the
		auditors), (i) reports, ledgers, documents and other records (including
		receipts, receipt records, journals and journal entries) to the extent
		reasonably available and other information on a “read only” basis (by
		way of hard copy or computer disc) related to the Aircraft or the Issuer’s
		business (copies of which the Policy Provider shall be entitled to take) and
		(ii) certain officers and employees of the Manager (including each of its Key
		Personnel), in either case, subject to their reasonable availability and
		without interfering with normal business operations, to enable the Policy
		Provider to monitor the performance of the Manager under this Agreement and the
		affairs of the Issuer; subject to Section 5.01 of the Servicing Agreement and
		Section 9.2 of Schedule 2.02(a) of the Servicing Agreement.

	  

	 

		

		
 

		
		  20
		

		 
 

	 ARTICLE
		V

	  

	 UNDERTAKINGS
		OF THE ISSUER GROUP

	  

	 Section
		5.01 Cooperation. The
		Issuer and the other Issuer Group Members shall use commercially reasonable
		efforts to cause any Service Provider to at all times cooperate with the
		Manager to enable the Manager to provide the Issuer Group Services, including
		providing the Manager with all powers of attorney as may be reasonably
		necessary or appropriate for the Manager to perform the Issuer Group Services
		in accordance with this Agreement.

	  

	 Section
		5.02 Information. The
		Issuer will provide the Manager with the following information in respect of
		itself and each other Issuer Group Member:

	  

	 (a)
		copies of all Related Documents, including the articles of incorporation,
		bye-laws, trust agreements (or equivalent documents) of each Issuer Group
		Member, and copies of all books and records maintained on behalf of each such
		Issuer Group Member;

	  

	 (b)
		details of all bank accounts and bank mandates maintained by any Issuer Group
		Member;

	  

	 (c)
		names of and contact information with respect to the Board or board for each
		Issuer Group Member;

	  

	 (d) such
		other information as is necessary to the Manager’s performance of the
		Issuer Group Services; and

	  

	 (e) a
		copy of any information provided to the Issuer Group pursuant to the Servicing
		Agreement; provided that
		such information as is referred to in this Section 5.02 (with the exception of
		paragraphs (d) and (e)) shall be provided to the Manager after the execution of
		this Agreement and, in respect of any amendment or changes to the information
		provided to the Manager after the execution of this Agreement, promptly
		following the effectiveness of such amendments or changes.

	  

	 Section
		5.03 Scope
		of Services. (a) In
		the event that any Issuer Group Member shall enter into any agreement,
		amendment or other modification of any Lease or shall take any other action
		that has the effect of increasing in any material respect the scope, nature or
		level of the Issuer Group Services to be provided under this Agreement
		(including pursuant to Section 2.05 hereof) without the Manager’s express
		prior written consent, the Issuer Group shall so notify the Manager and the
		Manager shall not be obligated to perform the affected Issuer Group Service to
		the extent of such increase unless and until the Manager and the Issuer Group
		shall agree on the terms of such increased Issuer Group Service (it being
		understood that (i) the Manager shall have no liability to any Issuer Group
		Member directly or indirectly arising out of, in connection with or related to
		the Manager’s failure to perform such increased Issuer Group Service prior
		to any such agreement and (ii) the Issuer Group shall not be permitted to
		engage another Person to perform the affected Issuer Group Service without the
		prior written consent of the Manager unless the Manager has indicated it is
		unable or unwilling to act in respect of the affected Issuer 

	  

	 

	 

	 
 

	 
		21
	 

	  

	 Group
		Service or the Manager requires payment of more than reasonable additional
		compensation for such additional Issuer Group Service).

	  

	 (b) In
		the event that the Issuer Group shall acquire Additional Aircraft, the Issuer
		Group shall so notify the Manager and the Manager shall be obligated to provide
		the Issuer Group Services with respect to such Additional Aircraft in
		accordance with Section 2.06 hereof.

	  

	 Section
		5.04 Ratification. The
		Issuer and the other Issuer Group Members hereby ratify and confirm and agree
		to ratify and confirm (and shall furnish written evidence thereof upon request
		of the Manager) any act or omission by the Manager with respect to any Issuer
		Group Services in accordance with this Agreement in the exercise of any of the
		powers or authorities conferred upon the Manager under the terms of this
		Agreement, it being expressly understood and agreed that none of the foregoing
		shall have any obligation to ratify and confirm, and expressly does not ratify
		and confirm, any act or omission of the Manager in violation of this Agreement,
		the Standard of Performance or for which the Manager is obligated (or would be
		obligated had any Issuer Group Member incurred any Losses) to indemnify any
		Issuer Group Member under Article III hereof.

	  

	 Section
		5.05 Covenants. Each of
		the Issuer and the other Issuer Group Members covenants with the Manager that,
		during the term of this Agreement, it will conduct its business such that it is
		a separate and readily identifiable business from, and independent of, the
		Manager and any of its Affiliates and further covenants as follows (it being
		understood that these covenants shall not prevent the Issuer Group from
		publishing financial statements that are consolidated with those of Genesis
		Lease Limited, if to do so is required by Applicable Law or accounting
		principles from time to time in effect):

	  

	 (a) it
		will observe all corporate formalities necessary to remain legal entities
		separate and distinct from, and independent of, the Manager, and any of its
		Affiliates;

	  

	 (b) it
		will maintain its assets and liabilities separate and distinct from those of
		the Manager;

	  

	 (c) it
		will maintain records, books, accounts and minutes separate from those of the
		Manager;

	  

	 (d) it
		will pay its obligations in the ordinary course of business as a legal entity
		separate from the Manager;

	  

	 (e) it
		will keep its funds separate and distinct from any funds of the Manager, and
		will receive, deposit, withdraw and disburse such funds separately from any
		funds of the Manager;

	  

	 (f) it
		will conduct its business in its own name, and not in the name of the
		Manager;

	  

	 

		

		
 

		
		  22
		

		 
 

	 (g) it
		will not agree to pay or become liable for any debt of the Manager, other than
		to make payments in the form of indemnity as required by the express terms of
		this Agreement;

	  

	 (h) it
		will not hold out that it is a division of the Manager, or that the Manager is
		a division of it;

	  

	 (i) it
		will not induce any third party to rely on the creditworthiness of the Manager
		in order that such third party will be induced to contract with
		it;

	  

	 (j) it
		will not enter into any transaction between it and the Manager that are more
		favorable to either party than transactions that the parties would have been
		able to enter into at such time on an arm’s-length basis with a
		non-affiliated third party, other than any agreements in effect on the date
		hereof (it being understood that the parties hereto do not intend by this
		covenant to ratify any self-dealing transactions); 

	  

	 (k) it
		will observe all material corporate or other procedures required under
		Applicable Law and under its constitutive documents;

	  

	 (l)
		except with respect to any grantor trust, cause its board of directors or
		managers, as applicable, to meet at least annually or act pursuant to written
		consent and keep minutes of such meetings and actions; and

	  

	 (m) it
		will observe all material corporate formalities necessary to keep its business
		separate and readily identifiable from, and independent of, each other Issuer
		Group Member, including keeping the funds, assets and liabilities of each
		Issuer Group Member separate and distinct from those of each other Issuer Group
		Member and by maintaining separate records, books, accounts and minutes for
		each Issuer Group Member. 

	  

	 Section
		5.06 Ratification
		by Subsidiaries. The
		Issuer hereby undertakes to procure that, if so requested by the Manager, any
		subsidiary of the Issuer formed or acquired after the date hereof, shall
		execute an agreement with the Manager adopting and confirming, as regards such
		subsidiary, the terms of this Agreement, and agreeing to ratify anything done
		by the Manager in connection herewith on the terms of Section 5.04.
		

	  

	 Section
		5.07 Organization
		and Standing . The
		Issuer is duly incorporated under the laws of Bermuda, and each other Issuer
		Group Member is duly formed and validly existing and, if relevant, in good
		standing under the laws of the jurisdiction in which it is legally created or
		formed. Each of the Issuer and each other Issuer Group Member is in compliance
		in all material respects with all terms of such Person’s constituent
		documents. 

	  

	 ARTICLE
		VI

	  

	 MANAGEMENT
		FEES AND EXPENSES

	  

	 Section
		6.01 Management
		Fees.
		(a) In
		consideration of the Manager’s performance of the Issuer Group Services,
		the Issuer agrees to pay to the Manager a per annum amount equal to
		

	  

	 

	 

	 
 

	 
		23
	 

	  

	 $400,000
		(the “Management Fee”) payable in arrears in equal monthly
		installments (each monthly payment, a “Management Fee”) on each
		Payment Date (until the resignation or removal of the Manager) for each period
		commencing on and including the Initial Closing Date (or, thereafter, the last
		of day of the immediately preceding period) and ending on but excluding the
		Calculation Date immediately preceding such Payment Date (each such period, a
		“Fee Period”); provided that, in the event that the Replacement
		Manager becomes the Manager hereunder, its Management Fee shall be a per annum
		amount equal to $660,000 payable in arrears in equal monthly installments on
		each Payment Date during the relevant Fee Period and such Management Fee shall
		be adjusted on each anniversary of the Initial Closing Date for annual cost of
		living adjustments (based on the consumer price index for the home office of
		the Replacement Manager) not to exceed 5% in any given year.

	  

	 Section
		6.02 Expenses. (a) The
		Manager shall be responsible for (i) all telephone, facsimile and
		communications costs and expenses directly relating to or associated with the
		Manager’s performance of its duties as set forth in this Agreement and
		(ii) all fees and expenses owed to aviation consultants hired to assist the
		Manager with the Issuer Group Services.

	  

	 (b)
		Subject to the provisions of Section 6.02(a), the Issuer Group shall be
		responsible for the following expenses incurred by the Manager in the
		performance of its obligations hereunder (“Reimbursable
		Expenses”):

	  

	 (i)
		reasonable out-of-pocket expenses, including travel, accommodation and
		subsistence and approved expenditures in respect of insurance coverage for the
		Manager;

	  

	 (ii)
		expenses expressly authorized by (i) the Board or (ii) any Person to whom such
		authority has been delegated, other than the Manager or its Affiliates; and
		

	  

	 (iii)
		expenses expressly authorized pursuant to other provisions of this
		Agreement.

	  

	 Section
		6.03 Payment
		of Expenses. No
		later than each Calculation Date, the Manager shall deliver a notice to the
		Issuer Group, setting forth the amounts of Reimbursable Expenses owed to the
		Manager pursuant to Section 6.02 of this Agreement through and including such
		Calculation Date (it being understood that if there are no such expenses the
		Manager will be under no obligation to provide such notice). The Issuer Group
		agrees to pay to the Manager an amount equal to all such Reimbursable Expenses
		on the next Payment Date following such Calculation Date.

	  

	 All
		fees, expenses and indemnity payments shall be paid in accordance with the
		priority of payments set forth in the Indenture. The parties hereto agree that
		they will have no recourse or claims against the assets of the Issuer Group to
		the extent that collections and other available funds are
		insufficient.

	  

	 

		

		
 

		
		  24
		

		 
 

	 ARTICLE
		VII

	  

	 TERM;
		REPLACEMENT OF OR RESIGNATION BY THE MANAGER

	  

	 Section
		7.01 Term. This
		Agreement shall have a term commencing on the Initial Closing Date and expiring
		on the later of (y) the first date on which there shall have been paid in full
		all amounts outstanding to be paid under the Notes and any similar obligations
		of the Issuer issued pursuant to any other indenture or similar agreement,
		including all obligations then due and payable under the Indenture and under
		the Policy Provider Documents (i.e., there
		shall be no Notes or similar obligations outstanding under the Indenture and
		under the Policy Provider Documents) and (z) the Final Maturity
		Date.

	  

	 Section
		7.02 Replacement
		or Resignation. (a) At
		any time during the term of this Agreement (i) the Issuer Group by a Board
		Resolution, shall be entitled to replace the then existing Manager performing
		the Issuer Group Services with a new Manager appointed by it (with the prior
		written consent of the Servicer, such consent not to be unreasonably withheld
		or delayed (it being understood that the Servicer may consider, among other
		factors, whether the proposed Manager is a “Competitor” (as defined
		in the Servicing Agreement) of the Manager)) on 120 days’ Written Notice
		to the Manager, the Trustee and the Security Trustee, except following the
		delivery of a Default Notice or during the continuance of an Acceleration
		Default (in which case all such powers shall be vested in the Security Trustee
		as provided in clause (ii) below), (ii) the Security Trustee (as directed by
		the Controlling Party) shall be entitled to replace the then existing Manager
		following the delivery of a Default Notice or during the continuance of an
		Acceleration Default with a new Manager appointed by it on 120 days’
		written notice, (iii) in the event that there is “Competitor Control”
		of the Manager in accordance with the Servicing Agreement, immediately upon the
		Manager giving notice pursuant to Section 4.03(a) hereof or upon Written Notice
		thereof by the Servicer to the Manager, the Trustee and the Security Trustee,
		the Manager shall be replaced by the Replacement Manager (a “Replacement
		Event”) and (iv) the Policy Provider shall be entitled to replace the then
		existing Manager upon the occurrence of a Policy Provider Replacement Event
		with a successor Manager appointed by the Policy Provider on 60 days’
		Written Notice. 

	  

	 (b) At
		any time during the term of this Agreement, the Manager shall be entitled to
		resign as the Manager performing the Issuer Group Services on 120 days’
		Written Notice to the Issuer, the Security Trustee and the Trustee
		if:

	  

	 (i) any
		Issuer Group Member shall fail to pay in full when due (A) any Management Fee
		or any Reimbursable Expenses and such failure continues for a period of 30
		days, in either case, after the effectiveness of Written Notice from the
		Manager of such failure or (B) any other amount payable to the Manager
		hereunder, and such failure continues for a period of 60 days after Written
		Notice from the Manager of such failure; provided that,
		in the event the Policy Provider shall timely pay in full the amounts set forth
		in clauses (A) and (B) hereof, the Manager shall not resign pursuant to this
		clause (i);

	  

	 (ii) any
		Issuer Group Member shall fail to perform or observe or shall violate in any
		material respect any material term, covenant, condition or agreement to be
		performed or

	  

	 

	 

	 
 

	 
		25
	 

	  

	  observed
		by it in respect of this Agreement and such failure continues for a period of
		30 days after the Issuer Group shall have received notice of such failure
		(other than with respect to payment obligations referred to in clause (b)(i) of
		this Section 7.02);

	  

	 (iii)
		solely in the case of the Replacement Manager, an involuntary proceeding shall
		be commenced or an involuntary petition shall be filed in a court of competent
		jurisdiction seeking relief in respect of the Issuer or any Issuer Group
		Member, or of a substantial part of the property or assets of the Issuer or any
		other Issuer Group Member, under Title 11 of the United States Code, as now
		constituted or hereafter amended (the “U.S. Bankruptcy Code”), or any
		other U.S. federal or state or foreign bankruptcy, insolvency, receivership or
		similar law, and such proceeding or petition shall continue undismissed for 120
		days or an order or decree approving or ordering any of the foregoing shall be
		entered or the Issuer or any other Issuer Group Member shall go into
		liquidation, suffer a receiver or mortgagee to take possession of all or
		substantially all of its assets or have an examiner appointed over it or if a
		petition or proceeding is presented for any of the foregoing and not discharged
		within 120 days; or 

	  

	 (iv)
		solely in the case of the Replacement Manager, the Issuer or any other Issuer
		Group Member shall (A) voluntarily commence any proceeding or file any petition
		seeking relief under the U.S. Bankruptcy Code, or any other U.S. federal or
		state or foreign bankruptcy, insolvency, receivership or similar law, (B)
		consent to the institution of, or fail to contest the filing of, any petition
		described in clause (b)(iii) of this Section 7.02, (C) file an answer admitting
		the material allegations of a petition filed against it in any such proceeding
		or (D) make a general assignment for the benefit of its creditors.

	  

	 (c) In
		the event that the Manager is terminated or resigns pursuant to Section 7.02(a)
		or Section 7.02(b), the Replacement Manager will be appointed as the Manager
		upon 60 days’ written notice unless (i) the Issuer, the Servicer and the
		Policy Provider unanimously agree to appoint a successor Manager that is not
		the Replacement Manager and (ii) following the occurrence and continuance of an
		Event of Default, the Security Trustee, subject to the consent of the Servicer
		(such consent not to be unreasonably withheld or delayed), chooses to appoint a
		successor Manager that is not the Replacement Manager; provided that upon the
		occurrence of a Replacement Event (x) the Manager shall immediately cease to
		perform all Issuer Group Services hereunder and shall have no further rights
		hereunder (except as provided below) and (y) (1) if such Replacement Event
		occurs at least 60 days following the Manager giving notice pursuant to Section
		4.03(a) hereof, the Replacement Manager shall immediately thereafter perform
		the Issuer Group Services hereunder and shall assume all of the rights and
		obligations of the Manager hereunder or (2) if such Replacement Event occurs
		less than 60 days following the Manager giving notice pursuant to Section
		4.03(a) hereof, the Replacement Manager shall immediately thereafter perform a
		portion of the Issuer Group Services to the extent it is reasonably capable of
		so doing and shall assume the corresponding portion of the rights and
		obligations of the Manager hereunder (and during such time, the Manager shall
		continue to have the rights and obligations of the Manager not so assumed by
		the Replacement Manager) and, upon the 60th day following such notice pursuant
		to Section 4.03(a) hereof, the Replacement Manager shall perform all of the
		Issuer Group Services and shall assume all of the rights and obligations of the
		Manager hereunder. The Replacement Manager shall not be liable to the Issuer,
		any other Issuer Group Member, the Policy Provider or the Security Trustee for
		the non-

	  

	 

	 

	 
 

	 
		26
	 

	  

	 performance
		of any portion of the Issuer Group Services that the Replacement Manager has
		not assumed prior to such 60th day as provided in the foregoing sentence.
		Notwithstanding the foregoing, no replacement of the Manager pursuant to
		Section 7.02(a) and no resignation by the Manager pursuant to Section 7.02(b)
		shall become effective prior to the date on which a successor Manager, that is
		not subject to Competitor Control and has otherwise been appointed in
		accordance with the provisions of this Agreement and the Servicing Agreement,
		shall have become a party to this Agreement and accepted appointment with
		respect to all the rights and obligations of the Manager hereunder as such
		successor Manager; provided that in
		the event that a successor Manager shall not have been appointed within 90 days
		after such resignation, the Manager may petition any court of competent
		jurisdiction for the appointment of a successor Manager that is not subject to
		Competitor Control and has otherwise been appointed in accordance with the
		provisions of this Agreement and the Servicing Agreement. Upon any such
		replacement or resignation, the Manager shall be entitled to the payment of any
		compensation owed to it hereunder and to the reimbursement of all Reimbursable
		Expenses incurred in connection with all services rendered by it hereunder, as
		provided in Section 6 hereof, and for so long as the Manager is continuing to
		perform any of the Issuer Group Services, the Manager shall be entitled to
		continue to be paid all amounts due to it hereunder, net of any amounts that
		shall have been finally adjudicated by a court of competent jurisdiction to be
		owed by the Manager to the Issuer Group or not to be due to the Manager, until
		a successor Manager shall have been appointed and shall have accepted such
		appointment. 

	  

	 (d) For
		purposes of Section 7.02(a) hereof, “Policy Provider Replacement
		Event” means:

	  

	 (i) the
		occurrence and continuance of a Default or Event of Default;

	  

	 (ii) the
		Manager shall fail in any material respect to perform any material Issuer Group
		Services in accordance with the Standard of Performance or otherwise materially
		breach any of its obligations under this Agreement and such failure or breach
		shall have a material adverse effect on the Holders or the Policy
		Provider;

	  

	 (iii) any
		representation or warranty made by the Manager under this Agreement or any
		Related Document to which it is a party shall prove to have been false or
		misleading in any material respect when made and such misrepresentation shall
		have a material adverse effect on the Holders or the Policy Provider or a
		material adverse effect on the ability of the Manager to perform its
		obligations under this Agreement;

	  

	 (iv) an
		involuntary proceeding shall be commenced or an involuntary petition shall be
		filed in a court of competent jurisdiction seeking relief in respect of the
		Manager or in respect of a substantial part of the property or assets of the
		Manager, under Title 11 of the United States Code, as now constituted or
		hereafter amended, or any other U.S. federal or state or foreign bankruptcy,
		insolvency, receivership or similar law, and such proceeding or petition shall
		continue undismissed for 60 days or an order or decree approving or ordering
		any of the foregoing shall be entered or the Manager shall go into liquidation,
		suffer a receiver or mortgagee to take possession of all or substantially all
		of its assets or have an examiner appointed over it or if a petition or
		proceeding is presented for any of the foregoing and not discharged within 60
		days; 

	 
		 

		

		
 

		
		  27
		

	 

	  

	 (v) the
		Manager shall (A) voluntarily commence any proceeding or file any petition
		seeking relief under Title 11 of the United States Code, as now constituted or
		hereafter amended, or any other U.S. federal or state or foreign bankruptcy,
		insolvency, receivership or similar law, (B) consent to the institution of, or
		fail within 60 days to contest the filing of, any petition described in clause
		(iv) of this definition, (C) file an answer admitting the material allegations
		of a petition filed against it in any such proceeding or (D) make a general
		assignment for the benefit of its creditors; or

	  

	 (vi) (A) with
		respect to the initial Manager, the initial Manager ceases to hold a majority
		of the series of shares of the Issuer entitled to elect directors of the Issuer
		and the initial Manager ceases, or the initial Manager gives notice that it
		intends to cease, to be actively involved in the aircraft ownership, advisory
		and management business (whether for the aircraft owned by it or its Affiliates
		or owned by others) or (B) with respect to any successor Manager, such Manager
		ceases, or such Manager gives notice that it intends to cease, to be actively
		involved in the administrative services business in connection with the
		securitization of commercial jet aircraft and related assets.

	  

	 Section
		7.03 Consequences
		of Replacement or Resignation. (a)
		Notices. (i)
		Following the replacement or resignation of the Manager pursuant to Section
		7.01 or 7.02, the Manager will promptly forward to the Issuer Group any notices
		in respect of the Issuer Group Services received by it during the year
		immediately following the replacement and resignation of the Manager pursuant
		to this Agreement. 

	  

	 (ii) The
		Issuer Group will notify promptly any relevant third party, including each
		Rating Agency, the Policy Provider, the Security Trustee, the Trustee, the Cash
		Manager and the Servicer, of the replacement and resignation of the Manager
		pursuant to this Agreement and will request that any such notices and
		accounting reports and communications thereafter be made or given directly to
		the entity engaged to serve as Manager, and to the other parties
		hereto.

	  

	 (b)
		Accrued
		Rights. The
		replacement and resignation of the Manager pursuant to this Agreement shall not
		affect the respective rights and liabilities of any party accrued prior to such
		termination in respect of any prior breaches hereof or otherwise.

	  

	 (c)
		Replacement. If the
		Manager is replaced or resigns, the Manager will cooperate with any person
		appointed to perform the relevant Issuer Group Services, including providing
		such person with all information and documents reasonably
		requested.

	  

	 Section
		7.04 Survival.
		Notwithstanding any replacement or resignation of the Manager or the expiration
		of this Agreement, the obligations of the Issuer Group and the Manager under
		Section 3.02, of the Manager under Section 4.01(e) (so long as the Notes are
		outstanding or any amounts owed to the Policy Provider remain outstanding),
		4.01(a), (g) through (s) and the first paragraph of such section, 4.03(b), 7.03
		and 9.11, and of the Issuer Group Members under Section 5.05 shall survive such
		replacement or resignation of the Manager or expiration, as the case may be.
		

	  

	 

	 

	 
 

	 
		28
	 

	  

	 ARTICLE
		VIII

	  

	 ASSIGNMENT
		AND DELEGATION

	  

	 Section
		8.01 Assignment
		and Delegation. (a)
		Except as provided in subsection (b) below, no party to this Agreement shall
		assign or delegate or otherwise subcontract this Agreement or all or any part
		of its rights or obligations hereunder to any Person without the prior written
		consent of the other parties hereto (such consent not to be unreasonably
		withheld) and, in the case of an assignment or delegation by the Manager, the
		consent of the Servicer (which consent shall not be unreasonably withheld to
		the same extent as applicable and on the same terms as consent to the Manager
		itself under the Servicing Agreement) and no party to this Agreement shall
		assign or delegate or otherwise subcontract to a “Competitor” of the
		Servicer (as defined in the Servicing Agreement), without the prior written
		consent of the Servicer; provided that the Issuer Group Members may assign
		their rights hereunder to the Security Trustee for the benefit of the Secured
		Parties under the terms of the Security Trust Agreement. Notwithstanding the
		foregoing, the Manager is entitled to delegate or subcontract all or a portion
		of the Issuer Group Services to any entity so long as such entity is not
		subject to Competitor Control (a “Manager Delegate”); provided that
		the Manager shall remain primarily liable hereunder. The Servicer shall be
		notified of any delegation or subcontracting to a Manager Delegate, and shall
		be entitled to deal with and rely upon such Manager Delegate as the Manager in
		respect of the portion of the Issuer Group Services so delegated to such
		Manager Delegate.

	  

	 (b) The
		Manager may assign its right to receive compensation for the performance of all
		or any part of the Issuer Group Services.

	  

	 (c)
		Without limiting the foregoing, any Person who shall become a successor by
		assignment or otherwise of any party hereto shall be required as a condition to
		the effectiveness of any such assignment or other arrangement to become a party
		to this Agreement. 

	  

	 (d) The
		Manager hereby acknowledges that the Issuer and the other Issuer Group Members
		have granted a security interest to the Security Trustee under the Security
		Trust Agreement in all of the Issuer Group’s rights, title and interest
		in, to and under this Agreement, and agrees that all of the Issuer Group’s
		rights may be exercised by the Security Trustee to the exclusion of the Issuer
		and any other person in the Issuer Group following notice to the Manager by the
		Trustee or the Policy Provider of the occurrence and continuance of an Event of
		Default (whether or not any other remedial action is or has been taken,
		including, but not limited to, the delivery of a Default Notice under the
		Indenture) and such right shall continue so long as such Event of Default shall
		continue. The Manager hereby consents to such grant of a security
		interest.

	  

	 ARTICLE
		IX

	  

	 MISCELLANEOUS

	  

	 Section
		9.01 Notices. All
		notices, consents, directions, approvals, instructions, requests and other
		communications required or permitted by this Agreement to be given to any
		Person 

	  

	 

	 

	 
 

	 
		29
	 

	  

	 shall be
		in writing, and any such notice shall become effective ten (10) days after
		being deposited in the mails, certified or registered, return receipt
		requested, with appropriate postage prepaid for first class mail, or if
		delivered by hand or courier service or in the form of a facsimile, when
		received (and, in the case of a facsimile, receipt of such facsimile is
		confirmed to the sender), and shall be directed to the address or facsimile
		number of such Person set forth below: 

	  

	 
		If to
		  the Issuer and the other Issuer Group Members, to: 

		 

		Genesis
		  Funding Limited

		[      
		  ]

		Ireland

		Attention:
		  [              
		  ]

		Fax:
		  [              
		  ]

		

		with
		  copies to:

		

		[                   
		  ]

		

		if to
		  the Manager, to:

		

		Genesis
		  Lease Limited

		[    
		  ]

		Ireland

		Fax:
		  [         
		       ]

		Attention:
		  [          
		      ]

		

		if to
		  the Trustee or the Security Trustee, to:

		

		Deutsche
		  Bank Trust Company Americas

		60 Wall
		  Street, 26th Floor

		MSNYC60-2606

		New
		  York, NY 10005

		Attention:
		  Lou Bodi

		Fax:
		  212-797-8606

		

		if to
		  the Policy Provider, to:

		

		Financial
		  Guaranty Insurance Company

		125 Park
		  Avenue

		New
		  York, NY 10019

		Attention:
		  Surveillance, Commercial Structured Finance

		Fax:
		  212-312-3220

		

		and if
		  to the Servicer, to:

		 

		

		

		
 

		
		  30
		

		
 
 

	  

	 GE
		Commercial Aviation Services Limited

	 [    
		]

	 Attention:
		[         
		     ]

	 Fax:
		[        
		      ]

	  

	 From
		time to time any party to such agreement may designate a new address or number
		for purposes of notice thereunder by notice to each of the other parties
		thereto.

	 
		 

		Section
		  9.02 Governing
		  Law. THIS
		  AGREEMENT SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
		  WITH, THE LAWS OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS OF CONSTRUCTION,
		  VALIDITY AND PERFORMANCE.

		 

		Section
		  9.03 Jurisdiction. Except
		  as otherwise expressly provided in this Agreement, the parties hereto agree
		  that any suit, action or proceeding seeking to enforce any provision of, or
		  based on any matter arising out of or in connection with, this Agreement or the
		  transactions contemplated hereby may be brought in the United States District
		  Court for the Southern District of New York or any other New York State court
		  sitting in New York City, and each of the parties hereby consents to the
		  jurisdiction of such courts (and of the appropriate appellate courts therefrom)
		  in any such suit, action or proceeding and irrevocably waives, to the fullest
		  extent permitted by law, any objection which it may now or hereafter have to
		  the laying of the venue of any such suit, action or proceeding in any such
		  court or that any such suit, action or proceeding which is brought in any such
		  court has been brought in an inconvenient forum. Process in any such suit,
		  action or proceeding may be served on any party anywhere in the world, whether
		  within or without the jurisdiction of any such court. Without limiting the
		  foregoing, each party agrees that service of process on such party as provided
		  in Section 9.01 shall be deemed effective service of process on such party.
		  

		 

		Section
		  9.04 WAIVER
		  OF JURY TRIAL. EACH OF
		  THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY
		  IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE
		  TRANSACTIONS CONTEMPLATED HEREBY.

		 

		Section
		  9.05 Counterparts;
		  Third Party Beneficiaries. This
		  Agreement may be signed in any number of counterparts, each of which shall be
		  an original, with the same effect as if the signatures thereto and hereto were
		  upon the same instrument. This Agreement shall become effective when each party
		  hereto shall have received a counterpart hereof signed by the other party
		  hereto. No provision of this Agreement is intended to confer upon any Person
		  other than the parties hereto any rights or remedies hereunder. The Servicer is
		  an express third party beneficiary of this Agreement and may enforce the
		  provisions hereof directly for its benefit.

		 

		Section
		  9.06 Entire
		  Agreement. Except
		  as set forth in the letter agreement dated the date hereof between the Manager
		  and the Replacement Manager with respect to the payment by the Manager of
		  back-up fees to the Replacement Manager, this Agreement constitutes the entire
		  agreement among the parties with respect to the subject matter of this
		  Agreement and supersedes 

		 

		

		

		
 

		
		  31
		

		 
 

	 all
		prior agreements and understandings, both oral and written, between the parties
		with respect to the subject matter of this Agreement. 

	  

	 Section
		9.07 Table
		of Contents; Headings. The
		table of contents and headings of the various articles, sections and other
		subdivisions of such agreement are for convenience of reference only and shall
		not modify, define or limit any of the terms or provisions of such agreement.
		

	  

	 Section
		9.08 Amendments. This
		Agreement may not be amended, supplemented or otherwise modified except in a
		writing executed by all parties hereto. To the extent that so doing would,
		directly or indirectly, affect the Servicer’s rights, obligations or
		liabilities (or potential liabilities) under this Agreement or the Servicing
		Agreement, this Agreement may not be amended without the consent of the
		Servicer. Prior to the execution of any such amendment, supplement or
		modification, the Security Trustee and the Trustee shall be entitled to receive
		an Officer’s Certificate to the effect that all conditions precedent to
		such amendment, modification or supplement, if any, have been
		satisfied.

	  

	 Section
		9.09 No
		Partnership. (a) It
		is expressly recognized and acknowledged that this Agreement is not intended to
		create a partnership, joint venture or other similar arrangement between any
		Issuer Group Member or Members on the one part and the Manager on the other
		part. It is also expressly understood that any actions taken on behalf of any
		Issuer Group Member by the Manager shall be taken as agent for such Issuer
		Group Member, either naming the relevant Issuer Group Member, or naming the
		Manager as agent for an undisclosed principal. No Issuer Group Member shall
		hold itself out as a partner of the Manager, and the Manager will not hold
		itself out as a partner of any Issuer Group Member. 

	  

	 (b) The
		Manager shall not have any fiduciary duty or other implied obligations or
		duties to any Issuer Group Member, any Lessee or any other Person arising out
		of this Agreement.

	  

	 Section
		9.10 Concerning
		the Security Trustee and the Trustee. It is
		expressly understood and agreed that neither the Security Trustee nor the
		Trustee shall have any liability in respect of the appointment, performance or
		nonperformance of the Manager, all such liability, if any, being expressly
		waived by the parties hereto and by any Person claiming by, through or under
		such parties.

	  

	 Section
		9.11  Restrictions
		on Disclosure. The
		Manager agrees that it shall not, prior to the termination or expiration of
		this Agreement or within the three (3) years after such termination or
		expiration, disclose to any Person any information stated in writing by an
		Issuer Group Member or the Servicer to be confidential or proprietary, whether
		of a technical, financial, commercial or other nature, received directly or
		indirectly from the Issuer Group or the Servicer regarding the Issuer Group or
		the Servicer or their respective businesses or the Aircraft.

	  

	 Notwithstanding
		anything herein to the contrary, the foregoing shall not be construed to
		prohibit (i) disclosure of any and all information that is or becomes publicly
		known, or information obtained by the Manager from sources other than an Issuer
		Group Member or the 

	  

	 

		

		
 

		
		  32
		

	 

	  

	 Servicer,
		(ii) disclosure of any and all information (A) if required to do so by any
		Applicable Law, (B) to any government agency or regulatory body having or
		claiming authority to regulate or oversee any respects of the Manager’s
		business or that of its affiliates, (C) pursuant to any subpoena, civil
		investigative demand or similar demand or request of any court, regulatory
		authority, arbitrator or arbitration to which the Manager or an affiliate or an
		officer, director, employer or shareholder thereof is a party, (D) in any
		preliminary or final offering circular, registration statement (including, for
		the avoidance of doubt, the Form F-1 Registration Statement under the
		Securities Act of 1933 dated [ ] filed on behalf of Genesis Lease Limited) or
		contract or other document pertaining to the transactions contemplated by this
		Agreement approved in advance by any Issuer Group Member or (E) to any
		affiliate, independent or internal auditor, agent, employee or attorney of the
		Manager having a need to know the same, provided that the Manager advises such
		recipient of the confidential nature of the information being disclosed, or
		(iii) any other disclosure authorized by any Issuer Group Member or the
		Servicer.

	  

	 Section
		9.12 Power
		of Attorney. The
		Issuer shall, and shall cause each other Issuer Group Member, to appoint the
		Manager and its successors, and its permitted designees and assigns, as their
		true and lawful attorney-in-fact pursuant to the form of Power of Attorney
		attached as Schedule 2 to this Agreement (with such modifications as are
		necessary under the laws of the jurisdictions in which such Persons are
		organized). The Manager shall be entitled to seek and obtain from the Issuer
		(and/or any other Issuer Group Member as appropriate) a power of attorney in
		respect of the execution of any specific action as the Manager requests which
		is required in connection with the Issuer Group Services. 

	  

	 

		

		
 

		
		  33
		

	 

	  

	 IN
		WITNESS WHEREOF, this Agreement has been duly executed on the date first
		written above.

	  

	 
		
		  	 	
				  GENESIS
					 FUNDING LIMITED,

				  as the
					 Issuer
 
	 	 
	 	 	 	 	
				  By: 

				  	 
	 	 	 	 	
				  Name: 

				  	 
	 	 	 	 	
				  Title: 

				  	 

 

		 

		
		  	 	 	 	
				  DEUTSCHE
					 BANK TRUST COMPANY AMERICAS,

				  not in
					 its individual capacity but

				  solely
					 as the Security Trustee

				  and the
					 Trustee
 
	 	 	 	 
	 	 	 	 	
				  By: 

				  	 
	 	 	 	 	
				  Name: 

				  	 
	 	 	 	 	
				  Title: 

				  	 

 
 

	  

	 

		
		  	 	 	 	
				  [ADDITIONAL
					 SUBSIDIARY ENTITIES 

				  - TO
					 COME]
 
	 	 	 	 	 	 

 
 

	  

	  

	 

		

		
 

		
		  34
		

	 

	 

		
		  	 	 	 	
				  GENESIS
					 LEASE LIMITED, 

				  as the
					 Manager
 
	 	 	 	 	 	 
	 	 	 	 	
				  By: 

				  	 
	 	 	 	 	
				  Name: 

				  	 
	 	 	 	 	
				  Title: 

				  	 

 

		

		
		  	 	 	 	
				  PHOENIX
					 AMERICAN FINANCIAL SERVICES, INC., 

				  as the
					 Replacement Manager
 
	 	 	 	 	 	 
	 	 	 	 	
				  By: 

				  	 
	 	 	 	 	
				  Name: 

				  	 
	 	 	 	 	
				  Title: 

				  	 

 

		

		
		  	 	 	 	
				  FINANCIAL
					 GUARANTY INSURANCE COMPANY,

				  as the
					 Policy Provider
 
	 	 	 	 	 	 
	 	 	 	 	
				  By: 

				  	 
	 	 	 	 	
				  Name: 

				  	 
	 	 	 	 	
				  Title: 

				  	 

 
 

	  

	 

		

		
 

		
		  
		

	 

	 
		SCHEDULE
		  1

		 

		ACCOUNTS

		 

		
		  
			 	
					 ACCOUNT
						NAME
 	
					  
 	
					  
 	
					 ACCOUNT
						NUMBER
 
	 	 	 	 
	
					 [LESSEE
						FUNDED ]
 	 	 	
					 [
						]
 
	 	 	 	 
	
					 [RENTAL
						ACCT]
 	 	
					 [
						]
 
	
					 [COLLECTIONS
						ACCT]
 	 	
					 [
						]
 
	
					 [EXPENSE
						ACCT]
 	 	 	
					 [
						]
 
	
					 [NOTE
						ACCT CLASS G]
 	 	
					 [
						]
 

 
 
 

	  

	 
		

		  

		  
 

		  
			 2
		  

		

		 

		SCHEDULE
		  2

		 

		ISSUER
		  GROUP SERVICES

		 

		POWER OF
		  ATTORNEY

		 

		OF

		 

		[GRANTOR]

		 

		WHEREAS
		  [GRANTOR], having its [registered] office at [insert address] (hereinafter
		  called the “Grantor”) desires to appoint GENESIS LEASE LIMITED having
		  its office at ________________ (the “Attorney”) as the true and
		  lawful attorney of the Grantor for and in the name of and on behalf of the
		  Grantor in such Attorney’s absolute discretion to execute each and every
		  Requisite Document and Requisite Act as defined below and do all or any of the
		  acts or things hereinafter mentioned.

		 

		KNOW ALL
		  MEN BY THESE PRESENTS that in consideration for the mutual promises and
		  benefits set forth in the Management Agreement (defined below) the Grantor does
		  hereby make, constitute and irrevocably and unconditionally appoint for the
		  period (the “Term”) as and from the date hereof until termination or
		  expiry of the Management Agreement among the Grantor, other Issuer Group
		  Members, Deutsche Bank Trust Company Americas, the Replacement Manager,
		  Financial Guaranty Insurance Company, as the policy provider and the Attorney,
		  dated as of [ ], 2006 (the “Management Agreement”) in accordance with
		  its terms the Attorney as a true and lawful attorney of the Grantor for and in
		  the name of and on behalf of the Grantor with absolute discretion to exercise,
		  do, execute and/or deliver all or any of the acts, documents and things
		  hereinafter mentioned that in to say:

		 

		
		  	 	
				  1.

				  	
				  To
					 negotiate, approve, settle the terms of, agree, make, sign, execute (whether
					 under hand or seal) and deliver all deeds, agreements, documents, commitments,
					 arrangements, instruments, applications, oaths, affidavits, declarations,
					 notices, confirmations, certificates, approvals, acceptances, deliveries and to
					 do all other acts, matters and things whatsoever which are in each case
					 necessary or desirable for the Attorney to do for and on behalf of the Grantor
					 in respect of the provision of the Issuer Group Services (as defined in and
					 contemplated by the Management Agreement) (each such document a “Requisite
					 Document” and each such act a “Requisite Act”).

				  

 

		 

		
		  	 	
				  2.

				  	
				  To make
					 such amendments, modifications and variations to the Requisite Documents and to
					 enter into ancillary documentation in respect thereof, all on such terms as any
					 such Attorney may, in its sole discretion, determine from time to time for and
					 on behalf of the Grantor; and to make, give, sign, execute and do all things
					 including, without limitation, any material acts which may be necessary in
					 order to effect the terms of such Requisite Documents or in connection with the
					 making, signature, executions and 
 

 

		 

		

		  

		  
 

		  
			 3
		  

		

		 

		delivery of the Requisite Documents or any other
		  documents required to be executed by the Grantor in connection therewith or the
		  performance of any acts, matters and things contemplated thereby or by the
		  Requisite Acts as may be necessary in accordance with the provision of the
		  Issuer Group Services.

		 

		
		  	 	
				  3.

				  	
				  To
					 nominate and appoint one or more substitutes as attorney or attorneys under it
					 for all and any of the purposes aforesaid and the appointment of same with
					 liberty to revoke.
 

 

		 

		
		  	 	
				  4.

				  	
				  To
					 acknowledge this Power of Attorney as the act and deed of the Grantor and
					 generally to do all other acts which may be necessary and desirable for
					 carrying the purpose of this Power of Attorney into effect.
 

 

		 

		IT IS
		  HEREBY DECLARED THAT: -

		 

		
		  	 	
				  (A)

				  	
				  The
					 Grantor hereby ratifies and confirms and agrees to ratify and confirm
					 whatsoever any Attorney shall do or cause to be done in, or by virtue of this
					 Power of Attorney as long an such act is not inconsistent with the terms of the
					 Management Agreement or this Power of Attorney or in violation of Applicable
					 Law.
 

 

		 

		
		  	 	
				  (B)

				  	
				  This
					 Power of Attorney shall be irrevocable for the Term and at all times both
					 before and after the Term shall be conclusive and binding upon the Grantor and
					 no person or corporation having dealings with any Attorney under this Power of
					 Attorney shall be under any obligation to make any inquiries as to whether or
					 not this Power of Attorney has been revoked and all acts hereunder shall be
					 valid and binding on the Grantor unless express notice of its revocation shall
					 have been received by such person or corporation.
 

 

		 

		
		  	 	
				  (C)

				  	
				  Subject
					 to the provisions of the Management Agreement the Grantor unconditionally
					 undertakes to indemnify and keep indemnified each Attorney and his agents, and
					 their respective successors and estates, against all actions, proceedings,
					 claims, costs, expenses and liabilities of whatsoever nature arising from the
					 exercise or purported exercise in good faith of any of the powers conferred on
					 each Attorney by this Power of Attorney.
 

 

		 

		
		  	 	
				  (D)

				  	
				  The
					 particular powers enumerated above shall be given the widest
					 interpretation.
 

 

		 

		
		  	 	
				  (E)

				  	
				  THIS
					 POWER OF ATTORNEY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
					 LAWS OF THE STATE OF NEW YORK.
 

 

		 

		

		
 

		
		  4
		

		 
IN
		  WITNESS WHEREOF the Grantor has caused this Power of Attorney duly executed by
		  the Grantor this ____ day of
		  [          ], 2006.

		

	  

	 
		
		  	 	 	 	 
	
				  SIGNED
					 BY:
 	
				   
 	 	
				   
 	 
	
				  For and
					 on behalf of

				  [GRANTOR]

				  in the
					 presence of:CASH MANAGEMENT
		AGREEMENT
	 

	 
		Dated as of
		[   ], 2006
	 

	 
		among
	 

	 
		GENESIS FUNDING
		LIMITED,
	 

	 
		as the Issuer

	 

	 
		THE ISSUER
		SUBSIDIARIES IDENTIFIED HEREIN,
	 

	 
		DEUTSCHE BANK
		TRUST COMPANY AMERICAS,
	 

	 
		in its capacity as
		the Trustee and the Security Trustee
	 

	 
		and
	 

	 
		DEUTSCHE BANK
		TRUST COMPANY AMERICAS,
	 

	 
		in its capacity as
		the Cash Manager
	 

	 
		
		  
		  

		

	 
		 
	 

	 
		 
	 

	 

	 
	 

	 

	 
		TABLE OF
		CONTENTS
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				  Page
				

			 
	
				
				  ARTICLE I
				  DEFINITIONS
				

			 	
				
				  1
				

			 
	
				
				  SECTION
				  1.01. Definitions
				

			 	
				
				  1
				

			 
	
				
				  SECTION
				  1.02. Construction and Usage
				

			 	
				
				  1
				

			 
	
				
				  ARTICLE II
				  APPOINTMENT; SERVICES
				

			 	
				
				  2
				

			 
	
				
				  SECTION
				  2.01. Appointment
				

			 	
				
				  2
				

			 
	
				
				  SECTION
				  2.02. Limitations
				

			 	
				
				  2
				

			 
	
				
				  SECTION
				  2.03. Cash Management Services
				

			 	
				
				  3
				

			 
	
				
				  SECTION
				  2.04. Other Services
				

			 	
				
				  6
				

			 
	
				
				  ARTICLE III
				  STANDARD OF PERFORMANCE; LIABILITY AND INDEMNITY
				

			 	
				
				  7
				

			 
	
				
				  SECTION
				  3.01. Standard of Performance
				

			 	
				
				  7
				

			 
	
				
				  SECTION
				  3.02. Liability and Indemnity
				

			 	
				
				  7
				

			 
	
				
				  ARTICLE IV
				  REPRESENTATIONS AND WARRANTIES
				

			 	
				
				  8
				

			 
	
				
				  SECTION
				  4.01. Related Documents
				

			 	
				
				  8
				

			 
	
				
				  ARTICLE V
				  CASH MANAGER UNDERTAKINGS
				

			 	
				
				  9
				

			 
	
				
				  SECTION
				  5.01. Covenants
				

			 	
				
				  9
				

			 
	
				
				  ARTICLE VI
				  UNDERTAKINGS OF THE ISSUER GROUP
				

			 	
				
				  10
				

			 
	
				
				  SECTION
				  6.01. Cooperation
				

			 	
				
				  10
				

			 
	
				
				  SECTION
				  6.02. Certain Modifications
				

			 	
				
				  10
				

			 
	
				
				  SECTION
				  6.03. Further Assurances
				

			 	
				
				  10
				

			 
	
				
				  SECTION 6.04
				  Accession by Subsidiaries
				

			 	
				
				  11
				

			 
	
				
				  SECTION 6.05
				  Covenants of the Issuer or Issuer Group Members
				

			 	
				
				  11
				

			 
	
				
				  ARTICLE VII
				  EFFECTIVENESS
				

			 	
				
				  12
				

			 
	
				
				  SECTION
				  7.01. Effectiveness
				

			 	
				
				  12
				

			 
	
				
				  ARTICLE VIII
				  FEES AND EXPENSES
				

			 	
				
				  12
				

			 
	
				
				  SECTION
				  8.01. Fees
				

			 	
				
				  12
				

			 
	
				
				  ARTICLE IX
				  TERM; REMOVAL OF OR RESIGNATION BY THE CASH MANAGER
				

			 	
				
				  12
				

			 
	
				
				  SECTION
				  9.01. Term and Survival
				

			 	
				
				  12
				

			 
	
				
				  SECTION
				  9.02. Removal of or Resignation by the Cash Manager
				

			 	
				
				  12
				

			 
	
				
				  SECTION
				  9.03. Consequences of Removal or Resignation
				

			 	
				
				  13
				

			 
	
				
				  ARTICLE X
				  APPOINTMENT OF SUCCESSOR CASH MANAGER
				

			 	
				
				  14
				

			 
	
				
				  SECTION
				  10.01. Appointment of Successor Cash Manager
				

			 	
				
				  14
				

			 
	
				
				  ARTICLE XI
				  ASSIGNMENT AND DELEGATION
				

			 	
				
				  14
				

			 
	
				
				  SECTION
				  11.01. Assignment and Delegation
				

			 	
				
				  14
				

			 
	
				
				  ARTICLE XII
				  MISCELLANEOUS
				

			 	
				
				  15
				

			 
	
				
				  SECTION
				  12.01. Restrictions on Disclosure
				

			 	
				
				  15
				

			 

 

	 
		 
	 

	 
		-i-
	 

	 
		 
	 

	 

	 
	 

	 

	 
			
				
				  SECTION
				  12.02. No Petition
				

			 	
				
				  15
				

			 
	
				
				  SECTION
				  12.03. Notices
				

			 	
				
				  15
				

			 
	
				
				  SECTION
				  12.04. Counterparts
				

			 	
				
				  16
				

			 
	
				
				  SECTION
				  12.05. Entire Agreement
				

			 	
				
				  17
				

			 
	
				
				  SECTION
				  12.06. Amendment and Waiver
				

			 	
				
				  17
				

			 
	
				
				  SECTION
				  12.07. Third-Party Beneficiaries
				

			 	
				
				  17
				

			 
	
				
				  SECTION
				  12.08. Method of Payment
				

			 	
				
				  17
				

			 
	
				
				  SECTION
				  12.09. Payment on Business Days
				

			 	
				
				  17
				

			 
	
				
				  SECTION
				  12.10. Severability
				

			 	
				
				  17
				

			 
	
				
				  SECTION
				  12.11. No Partnership
				

			 	
				
				  17
				

			 
	
				
				  SECTION
				  12.12. Governing Law
				

			 	
				
				  18
				

			 
	
				
				  SECTION
				  12.13. Jurisdiction
				

			 	
				
				  18
				

			 
	
				
				  SECTION
				  12.14 Concerning the Security Trustee and the Trustee
				

			 	
				
				  18
				

			 
	
				
				  SECTION
				  12.15 Concerning the Cash Manager
				

			 	
				
				  18
				

			 
	
				
				  SECTION
				  12.16 Limited Recourse
				

			 	
				
				  20
				

			 
	
				
				  SECTION
				  12.17 PATRIOT Act
				

			 	
				
				  20
				

			 

 

	 
		SCHEDULE 1 - Lessee
		Funded Accounts
	 

	 
		EXHIBIT A -
		Accession Agreement
	 

	 
		 
	 

	 
		-ii-
	 

	 
		 
	 

	 

	 
	 

	 

	 
		This CASH MANAGEMENT
		AGREEMENT, dated as of [  ], 2006 (this “Agreement”), is made among GENESIS
		FUNDING LIMITED, a Bermuda exempted company (the “Issuer”), each ISSUER SUBSIDIARY
		signatory to this Agreement or that accedes to this Agreement pursuant to an
		Accession Agreement in the form of Exhibit A hereto (an “Accession
		Agreement”); DEUTSCHE BANK TRUST
		COMPANY AMERICAS, not in its individual capacity but solely as the trustee
		under the Indenture (the “Trustee”) and as the security
		trustee under the Security Trust Agreement (the “Security Trustee”) and DEUTSCHE BANK TRUST
		COMPANY AMERICAS, in its capacity as Cash Manager (the “Cash Manager”).
	 

	 
		For the
		consideration set forth below and other good and valuable consideration, the
		receipt and sufficiency of which is hereby acknowledged, the parties hereto
		agree as follows:
	 

	 
		ARTICLE I
	 

	 
		Definitions
	 

	 
		SECTION 1.01.
		Definitions. All capitalized terms used and
		not otherwise defined in this Agreement have the respective meanings assigned
		to those terms in the Trust Indenture, dated as of o, 2006, between the Issuer, the Cash Manager, Deutsche
		Bank Trust Company Americas, as the Trustee and as the Operating Bank, PK
		AirFinance US, Inc., as the Initial Liquidity Facility Provider, and Financial
		Guaranty Insurance Company, as the Policy Provider (the “Indenture”) or, if not defined in
		the Indenture, in the Management Agreement (as defined in the
		Indenture).
	 

	 
		SECTION 1.02.
		Construction and
		Usage. In this
		Agreement, unless the contrary intention is stated:
	 

	 
		(a)
		“include”, “includes” and “including” shall be
		deemed to be followed by “without limitation” whether or not they are
		in fact followed by such words or words of like import;
	 

	 
		(b) any agreement or
		instrument or any law, rule or regulation of any Governmental Authority defined
		or referred to below means such agreement or instrument or such law, rule or
		regulation as from time to time amended, modified or supplemented, including
		(in the case of agreements or instruments) by waiver or consent and (in the
		case of such law, rule or regulation) by succession of any comparable successor
		law, rule or regulation and includes (in the case of agreements or instruments)
		references to all attachments to, and instruments incorporated in, such
		agreements or instruments;
	 

	 
		(c) references to a
		Person are also to its permitted successors and assigns; and
	 

	 
		(d)
		“agreement” and comparable terms
		refer to the agreement in which such term appears (including all exhibits and
		schedules to any such agreement) and not to any particular article, section,
		clause or other subdivision of, or attachment to, any such agreement.
	 

	 
		 
	 

	 

	 
	 

	 
	 
		ARTICLE II
	 

	 
		Appointment;
		Services
	 

	 
		SECTION 2.01.
		Appointment. (a) The Trustee and the
		Security Trustee hereby appoint the Cash Manager as their agent for the
		purposes of providing the bank account management, calculation and other
		services set forth in Section 2.03 hereof and in the Indenture and performing
		the other activities to be performed by the Cash Manager under the Indenture
		and the Initial Liquidity Facility (collectively, the “Cash Management
		Services”)
		and hereby delegate to the Cash Manager (except as otherwise specified in the
		Indenture or the Security Trust Agreement) their respective authority to
		administer the Accounts and to otherwise perform the Cash Management Services
		on the terms and subject to the conditions set forth in this Agreement. Each of
		the Trustee and the Security Trustee hereby directs the Cash Manager, in its
		capacity as such, to enter into and to perform the Cash Manager’s
		obligations under the Indenture, the Initial Liquidity Facility and the
		Reference Agency Agreement. Each Issuer Group Member acknowledges that it has
		assigned its rights, among other things, to administer the Non-Trustee Accounts
		and it rights and to draw upon the Initial Liquidity Facility and any other
		Eligible Liquidity Facility to the Security Trustee pursuant to the Security
		Trust Agreement and that pursuant to this Agreement the Security Trustee has
		appointed the Cash Manager its agent to administer the Non-Trustee Accounts and
		to administer and draw upon the Initial Liquidity Facility and any other
		Eligible Liquidity Facility. 
	 

	 
		(b) Each Issuer
		Group Member hereby appoints the Cash Manager as their agent for the purposes
		of providing the services set forth in Section 2.04 (collectively, the
		“Other
		Services”
		and, together with the Cash Management Services, the
		“Services”) and hereby delegates to the Cash Manager (except
		as otherwise specified in the Indenture or the Security Trust Agreement) their
		respective authority to perform the Other Services on the terms and subject to
		the conditions set forth in this Agreement.
	 

	 
		(c) The Cash Manager
		hereby accepts such appointments and agrees to perform the Cash Management
		Services on behalf of the Trustee and the Security Trustee and the Other
		Services on behalf of each Issuer Group Member, in each case on the terms and
		subject to the conditions set forth in this Agreement. Each party to this
		Agreement agrees that the Cash Manager, in performing the Cash Management
		Services, is acting exclusively as the agent of the Trustee and the Security
		Trustee and not in any agency or other capacity on behalf of any Issuer Group
		Member and that no Issuer Group Member has any right to direct the Cash Manager
		with respect to all or any aspect of the Cash Management Services.
	 

	 
		SECTION 2.02.
		Limitations. The Cash Manager agrees to
		comply with the terms of this Agreement, the Indenture, the Security Trust
		Agreement, the Reference Agency Agreement, the Initial Liquidity Facility and
		each relevant Eligible Liquidity Facility and without prejudice to the
		foregoing, not to enter into, on behalf of any Issuer Group Member, any
		commitments, loans or obligations or to charge, mortgage, pledge, encumber or
		otherwise restrict or dispose of the property or assets of such Issuer Group
		Member, except as expressly permitted by the terms of this Agreement, the
		Indenture or the Security Trust Agreement.
	 

	 
		 
	 

	 
		2
	 

	 
		 
	 

	 

	 
	 

	 
	 
		SECTION 2.03.
		Cash Management
		Services. The
		Cash Manager hereby agrees for the benefit of the Trustee and the Security
		Trustee to perform and provide the following bank account management,
		calculation and other services:
	 

	 
		(a) Indenture
		Obligations.
		The Cash Manager shall, in its capacity as such, execute and deliver, and
		perform the obligations of the Cash Manager under the Indenture in accordance
		with its terms. In particular and without limiting the foregoing:
	 

	 
		(i) The Accounts.
	 

	 
		(A) Establishment and Operations of
		Accounts. The
		Cash Manager shall take all reasonably necessary steps to ensure that the
		Operating Bank establishes and maintains (in accordance with Section 3.01(a) of
		the Indenture and as provided in the Security Trust Agreement) (1) on the
		Initial Closing Date (a) the Collections Account, (b) the Lessee Funded
		Accounts consisting of the separate accounts so designated on Schedule 1
		hereto, (c) the Security Deposit Account, (d) the Rental Account designated on
		Schedule 1 hereto, (e) the Expense Account, (f) one Note Account for the Class
		G-1 Notes, (g) the Aircraft Purchase Account, (h) the Capital Account, (i)
		the Class B Shareholder Account, (j) the Liquidity Facility Reserve Account,
		(k) the Initial Liquidity Payment Account, (l) the Budgeted Cash Reserve
		Account and (m) the Budgeted Cash Account and (2) on the Initial Closing Date
		and thereafter, as and when required by the Indenture or as specified in a
		Board Resolution delivered to the Cash Manager, the Trustee and the Security
		Trustee or, in the case of any Rental Account or any Lessee Funded Account, as
		requested by the Servicer under the Servicing Agreement, any Account referred
		to in Section 3.01(a)(ii) of the Indenture. The Cash Manager shall establish
		the Irish VAT Refund Account in the name of the Issuer at an Eligible
		Institution. Each such Account shall, when established, be operated in
		accordance with the applicable provisions of Section 3.01 of the Indenture and
		Section 2.06 of the Security Trust Agreement.
	 

	 
		(B) Replacement
		Account. If at
		any time the Security Trustee Accounts are no longer to be maintained by the
		then Operating Bank under the Security Trust Agreement, the Cash Manager shall
		take all reasonably necessary steps to ensure that the successor Operating Bank
		establishes and maintains the Accounts previously maintained by its predecessor
		(in each case with the same name and purposes as it had so been maintained) and
		those to be established and maintained thereafter. In addition, if, at any
		time, any Account ceases to be an Eligible Account, the Cash Manager shall,
		within ten Business Days after notice thereof, take all reasonably necessary
		steps to ensure that the Operating Bank establishes and maintains as an
		Eligible Account a new Account having the same name and purpose in accordance
		with the requirements of the Indenture.
	 

	 
		(C) Rental Account. With respect to any Rental
		Account, the Cash Manager shall determine, as provided in Section 3.01(g) of
		the Indenture, whether or not such Account is required to be established and
		maintained as a Non-Trustee Account.
	 

	 
		(D) Lessee Payment
		Instructions.
		The Cash Manager shall take all necessary steps to reasonably ensure that all
		funds on deposit in each Rental Account are, to the
	 

	 
		 
	 

	 
		3
	 

	 
		 
	 

	 

	 
	 

	 
	 
		extent required by
		the Indenture, transferred from such Rental Account to the Collections Account
		within one Business Day of receipt (or with respect to any Non-Trustee Account,
		within three Business Days of receipt) and identification thereof (other than
		certain limited amounts, if any, required to be left on deposit for local,
		legal or regulatory reasons).
	 

	 
		(E) Bank Account
		Statements. The
		Cash Manager shall take all reasonably necessary steps to ensure that the
		Operating Bank and each other bank at which a Non-Trustee Account is located
		shall furnish as of the close of business on each Calculation Date a statement
		providing the then current balance of each applicable Account to it as well as
		the Security Trustee, the Issuer, the Trustee, and the Servicer.
	 

	 
		(F) Maintaining the Non-Trustee
		Accounts and the Irish VAT Refund Account. The Cash Manager shall
		exercise all rights of the Issuer Group Members to instruct or otherwise
		communicate with the Eligible Institutions at which the Non-Trustee Accounts
		and the Irish VAT Refund Account are maintained and otherwise to administer the
		Non-Trustee Accounts and the Irish VAT Refund Account. 
	 

	 
		(G) Aircraft Conversion
		Account. The
		Cash Manager shall take all reasonably necessary steps to ensure that all funds
		on deposit in the Aircraft Conversion Account are, to the extent required by
		the Indenture, transferred from such Aircraft Conversion Account to the
		Collections Account and from the Collections Account to such Aircraft
		Conversion Account. 
	 

	 
		(H) Budgeted Cash
		Account. The
		Cash Manager shall take all reasonably necessary steps to ensure that all funds
		on deposit in the Budgeted Cash Account are, to the extent required by the
		Indenture, transferred from such Budgeted Cash Account to the Collections
		Account and, if applicable, from the Budgeted Cash Reserve Account to such
		Budgeted Cash Account or the Collections Account.
	 

	 
		(ii) Calculations. Pursuant to Section 3.07 of
		the Indenture, the Cash Manager shall, at the times and in the manner set forth
		therein, determine or calculate each of the amounts and provide the reports
		required to be determined, calculated or prepared by it pursuant to Sections
		3.07 of the Indenture. 
	 

	 
		(iii)
		Withdrawals and
		Transfers. The
		Cash Manager shall direct the Operating Bank to make the following withdrawals
		and transfers in accordance with the terms of the Indenture:
	 

	 
		(A) Closing Date Deposits,
		Withdrawals and Transfers. On each Closing Date, the Cash
		Manager shall direct each of the transfers described in Section 3.03 of the
		Indenture in accordance with such Section 3.03.
	 

	 
		(B) Interim Deposits, Transfers and
		Withdrawals.
		From time to time, the Cash Manager shall direct the Operating Bank to make the
		withdrawals and transfers, and the Cash Manager shall give the notices,
		provided for in Section 3.04 of the Indenture in accordance with such Section
		3.04.
	 

	 
		 
	 

	 
		4
	 

	 
		 
	 

	 

	 
	 

	 
	 
		(C) Interim Deposits and Withdrawals
		for Modification Payments or Dispositions of Aircraft. From time to time, the Cash
		Manager shall direct the Operating Bank to make the withdrawals and transfers
		provided for in Section 3.06 of the Indenture in accordance with such Section
		3.06.
	 

	 
		(D) Payment Date First Step
		Withdrawals and Transfers. On each Payment Date, the Cash
		Manager shall direct the Operating Bank to make the withdrawals and transfers
		provided for in Section 3.08 of the Indenture in accordance with such Section
		3.08.
	 

	 
		(E) Payment Date Second Step
		Withdrawals. On
		each Payment Date, after the withdrawals and transfers provided for in Section
		3.08 of the Indenture have been made at the direction of the Cash Manager
		(except as permitted in clause (F) below) the Cash Manager shall direct the
		Operating Bank to distribute funds on deposit in the Collections Account as
		provided in Section 3.09(a) of the Indenture and shall make such certifications
		to the Trustee as may be required hereunder in connection therewith.
	 

	 
		(F) DSCR Failure, Event of Default
		and Default Notice Withdrawals and Transfers. Notwithstanding anything to
		the contrary contained in Section 3.08 or 3.09 of the Indenture, following the
		earlier of (x) the Expected Final Payment Date or (y) the occurrence of a DSCR
		Failure, after the withdrawals and transfers provided for in Section 3.08 of
		the Indenture have been made, the Cash Manager shall direct the Operating Bank
		on each Payment Date to distribute funds on deposit in the Collections Account
		and the Expense Account in the amounts and in the order of priority provided
		for in Section 3.09(b) of the Indenture. In addition, notwithstanding anything
		to the contrary contained in Section 3.08 or 3.09(a) of the Indenture,
		following the delivery of a Default Notice to the Cash Manager or the Issuer
		pursuant to the Indenture or during the continuance of an Acceleration Default,
		after the withdrawals and transfers provided for in Section 3.08 of the
		Indenture have been made, the Cash Manager shall direct the Operating Bank to
		distribute funds on deposit in the Collections Account and the Expense Account
		in the amounts and in the order of priority provided for in Section 3.09(b) of
		the Indenture.
	 

	 
		(G) Defeasance/Redemption and
		Refinancing Transfers. The Cash Manager shall direct
		the Operating Bank to transfer from time to time amounts on deposit in the
		Defeasance/Redemption Account or, in the case of a Refinancing, the Refinancing
		Account to the applicable Note Account in connection with either the redemption
		of any class or subclass of Notes in accordance with Section 3.11 of the
		Indenture or the exercise of the defeasance provisions set forth in Article XI
		of the Indenture and shall give the notices provided for in Section 3.11 of the
		Indenture.
	 

	 
		(H) Currency
		Conversions. If
		and to the extent that the Issuer incurs any payment obligation or other cost
		in a currency other than U.S. dollars, the Cash Manager shall, to the extent
		practicable, convert U.S. dollars into such other currency at the then
		prevailing market rate as necessary to discharge such payment obligations or
		costs, at the expense of the Issuer in accordance with Section 12.07 of the
		Indenture.
	 

	 
		 
	 

	 
		5
	 

	 
		 
	 

	 

	 
	 

	 
	 
		(I) Investments of
		Cash. The Cash
		Manager shall take such actions pertaining to the investment and reinvestment
		of the funds on deposit in the Accounts as permitted by and in accordance with
		Section 3.02 of the Indenture.
	 

	 
		(iv) Policy Drawings. If, in accordance with the
		terms of Section 3.15 of the Indenture and the Policy, a Policy Drawing is
		required to be made, the Cash Manager shall direct the Trustee to make a
		request for such a Policy Drawing on the Policy Provider in accordance with
		such Section 3.15.
	 

	 
		(b) Records. The Cash Manager shall provide
		such information relating to the Accounts to the Security Trustee, the Trustee,
		the Policy Provider or the Rating Agencies as any of them may reasonably
		request from time to time and as required under the Indenture.
	 

	 
		(c) Reports. The Cash Manager shall (after
		consultation with the Manager) prepare and deliver the Monthly Reports,
		Quarterly Reports, and Annual Reports and
		such other statements, reports or documents required under Section 2.14 of the
		Indenture.
	 

	 
		SECTION 2.04.
		Other
		Services. The
		Cash Manager hereby agrees for the benefit of each Issuer Group Member to
		perform and provide the following services:
	 

	 
		(a) Monitoring the Service
		Providers. The
		Cash Manager shall provide the following services in respect of the performance
		of the Service Providers; provided that, for the avoidance of
		doubt, this clause shall not preclude the Issuer from being entitled to appoint
		other Persons to perform such services, and it report on such performance to
		the Board on a quarterly basis; including:
	 

	 
		(i) with respect to
		the Servicer:
	 

	 
		(A) monitoring and
		reviewing the information and other reports provided by the Servicer pursuant
		to the Servicing Agreement, including with respect to the status of Lease
		payments, Lessee receivables, Additional Rent payments, security deposits,
		adjustments of rentals and claims for maintenance contribution payments by
		Issuer Group Members in accordance with Lease terms (to the extent provided to
		the Cash Manager in a timely manner);
	 

	 
		(B) at the written
		request of the Issuer, assisting the Issuer in evaluating the Servicer’s
		performance relative to the Standard of Care and the Conflicts Standard;
		and
	 

	 
		(C) monitoring the
		compliance of the Servicer with its obligations under the Servicing Agreement;
		
	 

	 
		(ii) with respect to
		the other Service Providers, assisting in evaluating the performance and
		compliance of each Service Provider against its obligations under the relevant
		agreement.
	 

	 
		(b) Authorization of
		Payments. The
		Cash Manager shall authorize payment of certain bills and expenses (i) payable
		to legal and professional advisers authorized to be 
	 

	 
		 
	 

	 
		6
	 

	 
		 
	 

	 

	 
	 

	 
	 
		engaged or consulted
		pursuant to this Agreement or any other Related Document, (ii) to the extent
		required by the terms of the Servicing Agreement or the Indenture or (iii)
		approved by the Board in writing and to determine the Required Expense Amount
		and the amount of Permitted Accruals determined in accordance with the
		Indenture.
	 

	 
		(c) Oversee Liquidity Enhancement
		Facilities. The
		Cash Manager shall oversee the general operation of any credit or liquidity
		enhancement facility provided for the benefit of the Issuer, including without
		limitation each Cash Collateral Account, the Initial Liquidity Facility and any
		other Eligible Liquidity Facility (including without limitation monitoring the
		amounts committed and available for drawing, and outstanding and required to be
		repaid, under each such facility); provided, however, that nothing herein shall be
		construed to impose any obligation on the Cash Manager to monitor the
		compliance by the Issuer with any affirmative or negative covenants set forth
		in any such facility.
	 

	 
		(d) Professional
		Advice. The
		Cash Manager may, on behalf of the Issuer, retain and instruct legal counsel
		and accounting, tax and other professional advisers to represent and advise the
		Issuer when the Cash Manager considers in good faith that it is appropriate or
		necessary for such advisers to be appointed to protect the interests and rights
		of any Issuer Group Member or for the Cash Manager to comply with its
		obligations under this Agreement; provided, however, that in any one-month period,
		the Cash Manager shall not be permitted contractually to obligate the Issuer to
		pay fees to such advisers pursuant to this Section 2.03 or any other
		section of this Agreement relating to the engagement of advisers in an
		aggregate amount in excess of $100,000 without the prior written consent of the
		Board. 
	 

	 
		(e) Debt Service Coverage
		Ratio. In the
		event that the Cash Manager determines in accordance with the terms of the
		Indenture that a DSCR Failure has occurred, the Cash Manager shall inform each
		of the Issuer, the Trustee, the Policy Provider and the Rating Agencies that a
		DSCR Failure for the applicable Payment Date exists.
	 

	 
		ARTICLE III
	 

	 
		Standard of
		Performance; Liability and Indemnity
	 

	 
		SECTION 3.01.
		Standard of
		Performance.
		The Cash Manager will devote the same amount of time and attention to, and will
		be required to exercise the same level of skill, care and diligence in, the
		performance of its services as it would if it were administering such services
		on its own behalf.
	 

	 
		SECTION 3.02.
		Liability and
		Indemnity. (a)
		The Cash Manager shall not be liable for any Expenses or Taxes to or of or
		payable by any Issuer Group Member at any time from any cause whatsoever,
		unless caused by the Cash Manager’s own gross negligence, willful
		misconduct, deceit (or, with respect to the handling of finances, negligence)
		or that of any of its directors, officers, agents or employees, as the case may
		be.
	 

	 
		(b) Each of the
		Issuer and the other Issuer Group Members agrees to indemnify and hold harmless
		the Cash Manager, subject to and in accordance with the provisions of the
		Indenture, its respective directors, officers, agents and employees and each of
		them against 
	 

	 
		 
	 

	 
		7
	 

	 
		 
	 

	 

	 
	 

	 
	 
		any Expenses or
		Taxes whatsoever that they or any of them may incur or be subject to in
		consequence of this Agreement or any other Related Document or as a result of
		the performance of the functions and services provided for under this Agreement
		or any other Related Document (including any Expenses incurred by the Cash
		Manager as a result of its indemnifying any permitted delegee of any of its
		functions under this Agreement or any other Related Document) except as a
		result of gross negligence (or, with respect to the handling of finances,
		negligence), willful default, deceit or fraud of the Cash Manager or any of its
		directors, officers, agents or employees, as the case may be, and this
		indemnity shall expressly inure to the benefit of any existing or future
		director, officer, agent or employee of the Cash Manager and to the benefit of
		any successor of the Cash Manager under this Agreement and shall survive the
		termination or expiry of this Agreement.
	 

	 
		(c) Each of the
		parties to this Agreement acknowledges that the terms of this Agreement
		contemplate that the Cash Manager will receive certain information from other
		parties to the other Related Documents in order for the Cash Manager to be able
		to perform all or any part of the Services, that the Cash Manager will be able
		to perform the Services only to the extent such information is provided to the
		Cash Manager by the relevant parties and that the Cash Manager may conclusively
		rely on such information as it receives without undertaking any independent
		verification or recalculation of that information. The Cash Manager agrees that
		if it does not receive any such information it will promptly notify the party
		who was to provide such information of such failure.
	 

	 
		(d) Each of the
		parties to this Agreement acknowledges that (1) the Cash Manager will not be
		responsible for the acts or omissions of the Trustee or the Security Trustee so
		long as the same Person is not both the Cash Manager and the Trustee or the
		Security Trustee (as applicable) and (2) neither the Trustee nor the Security
		Trustee will be responsible for the acts or omissions of the Cash Manager so
		long as the same Person is not the Trustee or the Security Trustee (as
		applicable) and the Cash Manager.
	 

	 
		(e) The Cash Manager
		shall not be required to take any legal action on behalf of the Issuer or any
		Issuer Group Member.
	 

	 
		ARTICLE IV
	 

	 
		Representations
		and Warranties
	 

	 
		SECTION 4.01.
		Related
		Documents. Each
		of the Issuer and the other Issuer Group Members represents and warrants to the
		Cash Manager that it is not a party to any agreement affecting or otherwise
		relating to any of the Services other than the Related Documents and has
		provided to the Cash Manager a true and complete copy of each Related
		Document.
	 

	 
		 
	 

	 
		8
	 

	 
		 
	 

	 

	 
	 

	 
	 
		ARTICLE V
	 

	 
		Cash Manager
		Undertakings
	 

	 
		SECTION 5.01.
		Covenants. The Cash Manager hereby
		covenants with the Issuer, the Trustee, the Security Trustee and the other
		Issuer Group Members that, during the term of this Agreement:
	 

	 
		(a) if the Cash
		Manager receives any money whatsoever arising from any Related Document or any
		collateral security for any of the foregoing, which money belongs to any Issuer
		Group Member, the Trustee or the Security Trustee or is to be paid to any
		Issuer Group Member, the Trustee or the Security Trustee or into any Account
		pursuant to any Related Document or otherwise, it shall hold such money in
		trust for such Issuer Group Member, the Trustee or the Security Trustee, as the
		case may be, and shall forthwith upon receipt of such money pay the same to the
		Trustee for deposit into the relevant Account in accordance with the terms of
		the Indenture without exercising any right of setoff it may have; and shall in
		all events keep such money separate from all other money belonging to the Cash
		Manager;
	 

	 
		(b) it will comply
		with any proper directions, orders and instructions that the Trustee or the
		Security Trustee may from time to time give to it in writing in accordance with
		the provisions of this Agreement and the Indenture;
	 

	 
		(c) it will
		cooperate with the Trustee and the Security Trustee, including without
		limitation by providing such information as may reasonably be requested, to
		permit such Persons or its authorized agents to monitor the Cash Manager’s
		compliance with its obligations under this Agreement;
	 

	 
		(d) it will observe
		all corporate formalities necessary to remain a legal entity separate and
		distinct from, and independent of, each Issuer Group Member;
	 

	 
		(e) it will maintain
		its assets and liabilities separate and distinct from each Issuer Group Member
		in such a manner that is not difficult to segregate, identify or ascertain;
		
	 

	 
		(f) it will maintain
		records, books, accounts and minutes separate from those of each Issuer Group
		Member (except as otherwise set forth in the Related Documents);
	 

	 
		(g) it will pay its
		obligations in the ordinary course of its business as a legal entity separate
		from each Issuer Group Member, except as otherwise required or permitted under
		the Indenture and the Security Trust Agreement;
	 

	 
		(h) it will keep its
		funds separate and distinct from the funds of each Issuer Group Member, and it
		will receive, deposit, withdraw and disburse such funds separately from the
		funds of each Issuer Group Member;
	 

	 
		(i) it will conduct
		its business in its own name, and not in the name of any Issuer Group
		Member;
	 

	 
		 
	 

	 
		9
	 

	 
		 
	 

	 

	 
	 

	 
	 
		(j) it will not pay,
		assume, guarantee or become liable for any debt of, or otherwise pledge its
		assets for the benefit of, any Issuer Group Member, except as otherwise
		permitted under the Related Documents;
	 

	 
		(k) it will not hold
		out that it is a division of any Issuer Group Member or that any Issuer Group
		Member is a division of it;
	 

	 
		(l) it will not
		induce any third party to rely on the creditworthiness of any Issuer Group
		Member in order that such third party will be induced to contract with it;
		and
	 

	 
		(m) it will not
		enter into any agreements between it and any Issuer Group Member that are more
		favorable to either party than agreements that the parties would have been able
		to enter into at such time on an arm’s-length basis with a non-affiliated
		third party, other than any Related Documents in effect on the date hereof (it
		being understood that the parties hereto do not intend by this covenant to
		ratify any self-dealing transactions).
	 

	 
		ARTICLE VI
	 

	 
		Undertakings of
		the Issuer Group
	 

	 
		SECTION 6.01.
		Cooperation. The Security Trustee, the
		Trustee, the Issuer and the other Issuer Group Members shall at all times
		cooperate with the Cash Manager to enable the Cash Manager to provide the
		Services, including providing the Cash Manager with all powers of attorney and
		information as may reasonably be necessary or appropriate for the Cash Manager
		to perform the Services. In addition, as and to the extent requested by the
		Cash Manager, the Issuer and the other Issuer Group Members shall use
		commercially reasonable efforts to cause any Service Provider to at all times
		cooperate with the Cash Manager to enable the Cash Manager to provide the
		Services. The Cash Manager recognizes that certain instructions hereunder or
		under any other Related Document to be given by the Issuer may also require the
		approval of any Issuer Group Member. For the avoidance of doubt, the Cash
		Manager will be required to deal only with the Issuer in connection with any
		such approval. If the Issuer approves any particular action, the Cash Manager
		shall be entitled to assume and shall be fully protected in such assumption
		that any necessary approval of an Issuer Group Member to such action has been
		obtained. In connection therewith, each Issuer Group Member (other than the
		Issuer) hereby appoints the Issuer as its representative to provide
		instructions and approvals on its behalf to the Cash Manager.
	 

	 
		SECTION 6.02.
		Certain
		Modifications.
		The Issuer and the other Issuer Group Members shall not amend or modify the
		provisions of the Indenture, to the extent directly pertaining to the Services,
		without the consent of the Cash Manager, whose consent shall not unreasonably
		be withheld.
	 

	 
		SECTION 6.03.
		Further
		Assurances.
		Each of the Issuer and the other Issuer Group Members agrees that at any time
		and from time to time upon the written request of the Cash Manager, it shall
		execute and deliver such further documents and do such further acts and things
		as the Cash Manager may reasonably request in order to effect the purposes of
		this Agreement.
	 

	 
		 
	 

	 
		10
	 

	 
		 
	 

	 

	 
	 

	 
	 
		SECTION 6.04
		Accession by
		Subsidiaries.
		The Issuer hereby undertakes to procure that any subsidiary of the Issuer
		formed or acquired after the date of this Agreement shall execute an Accession
		Agreement.
	 

	 
		SECTION 6.05
		Covenants of the
		Issuer or Issuer Group Members. The Issuer covenants with the
		Cash Manager that, during the term of this Agreement, it shall conduct its
		business such that it is a separate and readily identifiable business from the
		Cash Manager and, to the extent possible, shall cause each Issuer Subsidiary to
		do the same, and further covenants as follows:
	 

	 
		(a) it will observe
		all corporate formalities necessary to remain legal entities separate and
		distinct from, and independent of, the Cash Manager, and any of its
		Affiliates;
	 

	 
		(b) it will maintain
		its assets and liabilities separate and distinct from those of the Cash
		Manager;
	 

	 
		(c) it will maintain
		records, books, accounts and minutes separate from those of the Cash
		Manager;
	 

	 
		(d) it will pay its
		obligations in the ordinary course of business as a legal entity separate from
		the Cash Manager;
	 

	 
		(e) it will keep its
		funds separate and distinct from any funds of the Cash Manager, and will
		receive, deposit, withdraw and disburse such funds separately from any funds of
		the Cash Manager;
	 

	 
		(f) it will conduct
		its business in its own name, and not in the name of the Cash Manager;
	 

	 
		(g) it will not
		agree to pay or become liable for any debt of the Cash Manager, other than to
		make payments in the form of indemnity as required by the express terms of this
		Agreement;
	 

	 
		(h) it will not hold
		out that it is a division of the Cash Manager, or that the Cash Manager is a
		division of it;
	 

	 
		(i) it will not
		induce any third party to rely on the creditworthiness of the Cash Manager in
		order that such third party will be induced to contract with it; and
	 

	 
		(j) it will not
		enter into any transaction between it and the Cash Manager that are more
		favorable to either party than transactions that the parties would have been
		able to enter into at such time on an arm’s-length basis with a
		non-affiliated third party, other than any agreements in effect on the date
		hereof (it being understood that the parties hereto do not intend by this
		covenant to ratify any self-dealing transactions).
	 

	 
		 
	 

	 
		11
	 

	 
		 
	 

	 

	 
	 

	 
	 
		ARTICLE VII
	 

	 
		Effectiveness
	 

	 
		SECTION 7.01.
		Effectiveness. The effectiveness of this
		Agreement shall be conditional upon:
	 

	 
		(i) with respect to
		the Issuer, the Cash Manager, the Security Trustee, the Trustee and the Issuer
		Subsidiaries set forth on the signature pages hereof, the execution hereof by
		those parties; and
	 

	 
		(ii) with respect to
		any entity which executes and delivers an Accession Agreement, the execution
		thereof and acknowledgment and agreement by the Issuer, the Cash Manager, the
		Security Trustee and the Trustee. The original parties hereto and each entity
		which becomes a party hereto by executing and delivering an Accession Agreement
		agree that such Accession Agreement shall be effective without the need for
		each other party hereto to execute such Accession Agreement in acknowledgment
		and agreement.
	 

	 
		ARTICLE VIII
	 

	 
		Fees and
		Expenses
	 

	 
		SECTION 8.01.
		Fees. In consideration of the Cash
		Manager’s performance of the Services, the Issuer shall pay to the Cash
		Manager customary fees and reimburse it for certain Expenses, all as provided
		by separate agreement between them.
	 

	 
		ARTICLE IX
	 

	 
		Term; Removal of
		or Resignation by the Cash Manager
	 

	 
		SECTION 9.01.
		Term and
		Survival. (a)
		Term. The term of this Agreement
		shall commence on the Initial Closing Date and expire on the date on which the
		Indenture terminates. During the term of this Agreement, neither the Trustee
		nor the Security Trustee shall remove the Cash Manager, and the Cash Manager
		shall not resign, except as expressly provided in this Article IX.
	 

	 
		(b) Survival. The respective obligations of
		the Issuer and the Cash Manager under Sections 3.02, 8.01 (to the extent any
		amounts due and owing through such date of termination remain unpaid), 9.03,
		12.01 and 12.02 shall survive the termination of this Agreement under this
		Section 9.01.
	 

	 
		SECTION 9.02.
		Removal of or
		Resignation by the Cash Manager.
	 

	 
		(a) At any time
		during the term of this Agreement, the Trustee (at the direction of the
		Controlling Party) or the Security Trustee (at the direction of the Controlling
		Party) shall be entitled to remove the then existing Cash Manager on not less
		than 30 days’ Written Notice to each other party to this Agreement.

	 

	 
		 
	 

	 
		12
	 

	 
		 
	 

	 

	 
	 

	 
	 
		(b) At any time
		during the term of this Agreement, the Issuer shall be entitled to remove the
		then existing Cash Manager on not less than 30 days’ Written Notice to the
		each other party to this Agreement if:
	 

	 
		(i) the Cash Manager
		shall fail in any material respect to perform any Services and such failure
		shall have a material adverse effect on the Issuer Group taken as a whole;
		or
	 

	 
		(ii) an involuntary
		proceeding shall be commenced or an involuntary petition shall be filed in a
		court of competent jurisdiction seeking relief in respect of the Cash Manager
		or of a substantial part of the property or assets of the Cash Manager under
		Title 11 of the United States Code, as now constituted or hereafter amended
		(the “U.S.
		Bankruptcy Code”), or any other U.S.
		Federal or state or foreign bankruptcy, insolvency, receivership or similar
		law, and such proceeding or petition shall continue undismissed for 90 days or
		an order or decree approving or ordering any of the foregoing shall be entered
		or the Cash Manager shall go into liquidation, suffer a receiver or mortgagee
		to take possession of all or substantially all of its assets or have an
		examiner appointed over it or if a petition or proceeding is presented for any
		of the foregoing and not discharged within 90 days; or 
	 

	 
		(iii) the Cash
		Manager shall (A) voluntarily commence any proceeding or file any petition
		seeking relief under the U.S. Bankruptcy Code, or any other U.S. Federal or
		state or foreign bankruptcy, insolvency, receivership or similar law, (B)
		consent to the institution of, or fail to contest the filing of, any petition
		described in clause (ii) above, (C) file an answer admitting the material
		allegations of a petition filed against it in any such proceeding, or (D) make
		a general assignment for the benefit of its creditors.
	 

	 
		(c) The Cash Manager
		may resign on 30 days’ Written Notice to each other party to this
		Agreement. Notwithstanding the foregoing, no resignation by or removal of the
		Cash Manager shall become effective until a successor Cash Manager has been
		appointed in accordance with Section 10.01; provided, however, that, if an instrument of
		acceptance by a successor Cash Manager has not been delivered pursuant to
		Section 10.01 within 60 days after the giving of such notice of resignation or
		removal, the Cash Manager may petition any court of competent jurisdiction for
		the appointment of a successor Cash Manager. Upon action by any party pursuant
		to the provisions of this Section 9.02, the Cash Manager shall be entitled to
		the payment of any compensation or reimbursement owed to it by the Issuer
		hereunder.
	 

	 
		 
	 

	 
		13
	 

	 
		 
	 

	 

	 
	 

	 
	 
		SECTION 9.03.
		Consequences of
		Removal or Resignation.
	 

	 
		(a) Notices and
		Communications.
		Following the removal of or resignation by the Cash Manager under Section
		9.02,
	 

	 
		(i) The Cash Manager
		shall promptly forward to the successor Cash Manager, the Issuer, the Trustee
		and the Security Trustee any notices and accounting reports received by it
		during the year immediately following any such removal or resignation.
	 

	 
		(ii) The Issuer
		shall notify promptly each other party to the Indenture and each Rating Agency,
		of such removal or resignation and shall request that all such notices and
		accounting reports and communications after any such removal or resignation be
		made or given directly to the successor Cash Manager or the Issuer.
	 

	 
		(iii) The Cash
		Manager shall cooperate with the successor Cash Manager, including providing
		such successor Cash Manager with all information and documents reasonably
		requested by such successor.
	 

	 
		(b) Accrued Rights. The removal of or resignation
		by the Cash Manager under Section 9.02 shall not affect the respective rights
		and liabilities of any party accrued prior to any such removal or resignation
		in respect of any prior breaches of this Agreement or otherwise. In addition,
		the respective obligations of the Issuer Group and the Cash Manager under
		Sections 3.02, 8.01 (to the extent any amounts due and owing through such date
		of removal or resignation remain unpaid), 9.03 and 12.01 shall survive any such
		removal or resignation.
	 

	 
		ARTICLE X
	 

	 
		Appointment of
		Successor Cash Manager
	 

	 
		SECTION 10.01.
		Appointment of
		Successor Cash Manager. In the event of the
		resignation by or removal of the Cash Manager pursuant to Section 9.02, the
		Issuer shall select, and the Trustee, the Security Trustee and each Issuer
		Group Member shall promptly appoint a successor Cash Manager, provided that no
		such appointment shall be effective unless the Issuer Group has obtained a
		Rating Agency Confirmation with respect to such appointment. Any successor Cash
		Manager appointed by each Issuer Group Member, the Trustee and the Security
		Trustee following resignation by or removal of the Cash Manager pursuant to the
		provisions of Section 9.02 shall execute and deliver to the Issuer Group, the
		Trustee and the Security Trustee, with a copy to the original Cash Manager, an
		instrument accepting such appointment. Thereupon, such successor Cash Manager
		shall, without any further act, deed or conveyance, become vested with all the
		authority, rights, powers, immunities, duties and obligations of the Cash
		Manager and with like effect as if originally named as Cash Manager under this
		Agreement.
	 

	 
		ARTICLE XI
	 

	 
		Assignment and
		Delegation
	 

	 
		 
	 

	 
		14
	 

	 
		 
	 

	 

	 
	 

	 
	 
		SECTION 11.01.
		Assignment and
		Delegation. (a)
		The Cash Manager may, with the consent of the Manager, delegate to the Manager
		the performance of any of the Cash Management Services, such delegation to be
		procured by delivery to the Trustee of a certificate in a form acceptable to
		the Trustee.
	 

	 
		(b) Except as set
		forth in this Section 11.01, none of the parties to this Agreement shall assign
		all or any of its rights under, or delegate all or any of its obligations
		under, this Agreement to any Person without the prior written consent of the
		other parties, except that the Issuer Group Members may assign their rights
		under this Agreement to the Security Trustee for the benefit of the Secured
		Parties under the Security Trust Agreement.
	 

	 
		(c) Without limiting
		the foregoing, any Person who becomes a successor by assignment or otherwise of
		the Issuer or the Cash Manager in accordance with this Section 11.01 shall be
		required as a condition to the effectiveness of any such assignment or other
		arrangement to become a party to this Agreement.
	 

	 
		ARTICLE XII 
	 

	 
		Miscellaneous
	 

	 
		SECTION 12.01.
		Restrictions on
		Disclosure. The
		Cash Manager agrees to keep confidential all documents, materials and other
		information relating to the Issuer Group Members that is within or comes into
		its possession or actual knowledge and agrees not to disclose any of the
		foregoing without the prior written consent of the party so affected;
		provided, however, that the foregoing shall not
		be construed to prohibit (a) disclosure of any and all information that is
		or becomes publicly known (other than as a result of disclosure by the Cash
		Manager) or information obtained by the Cash Manager from sources other than
		the Issuer Group Members, the Trustee or the Security Trustee,
		(b) disclosure of any and all information (i) if required to do so by
		any applicable statute, law, rule or regulation, (ii) to any government
		agency or regulatory or self-regulatory body having or claiming authority to
		regulate or oversee any aspects of the Cash Manager’s business or that of
		its Affiliates, (iii) pursuant to any subpoena, civil investigative demand
		or similar demand or request of any court, regulatory authority, arbitrator or
		arbitration to which the Cash Manager or any of its officers, directors,
		employers or shareholders is a party, (iv) in any preliminary or final
		offering circular, registration statement or contract or other document
		pertaining to the transactions contemplated by the Related Documents approved
		in advance by the Issuer Group or (v) to any Affiliate, independent or
		internal auditor, agent, employee or attorney of the Cash Manager having a need
		to know the same, provided that the Cash Manager advises
		such recipient of the confidential nature of the information being disclosed,
		(c) any other disclosure authorized by the Issuer, or (d) disclosure
		to the other parties to the transactions to the extent contemplated by the
		Related Documents.
	 

	 
		SECTION 12.02.
		No
		Petition. The
		Cash Manager agrees that it shall not institute against, or join any other
		Person in instituting against, the Issuer or the other Issuer Group Members any
		bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding,
		or other proceeding under any federal or state bankruptcy or similar law;
		provided, however, that 
	 

	 
		 
	 

	 
		15
	 

	 
		 
	 

	 

	 
	 

	 
	 
		nothing herein shall
		prohibit the Cash Manager from otherwise participating in any such process or
		proceeding instituted by any other Person. 
	 

	 
		SECTION 12.03.
		Notices. All notices, consents,
		directions, approvals, instructions, requests and other communications required
		or permitted by any agreement, instrument or other document to be given to any
		Person shall be in writing and become effective upon receipt and shall be
		directed to the address or facsimile number of such Person set forth below or
		as is designated by such Person from time to time in a notice given under this
		Section 12.03:
	 

	 
		If to the Issuer and
		the other Issuer Group Members, to it at:
	 

	 
		Genesis Funding
		Limited
	 

	 
		[  ]
	 

	 
		Ireland
	 

	 
		Attention:
		[  ]
	 

	 
		Fax:
		[  ]
	 

	 
		with a copy to the
		Manager:
	 

	 
		Genesis Lease
		Limited
	 

	 
		[  ]
	 

	 
		Ireland
	 

	 
		Fax:
		[  ]
	 

	 
		Attention:
		[  ]
	 

	 
		If to the Cash
		Manager to:
	 

	 
		Deutsche Bank Trust
		Company Americas
	 

	 
		60 Wall Street, 26th
		Floor
	 

	 
		MSNYC60-2606
	 

	 
		New York, NY
		10005
	 

	 
		With a copy
		to:
	 

	 
		[  ]
	 

	 
		If to the Trustee or
		the Security Trustee to:
	 

	 
		Deutsche Bank Trust
		Company Americas
	 

	 
		60 Wall Street, 26th
		Floor
	 

	 
		MSNYC60-2606
	 

	 
		New York, NY
		10005
	 

	 
		SECTION 12.04.
		Counterparts
		 This Agreement
		may be signed in any number of counterparts, each of which shall be an
		original, with the same effect as if the signatures thereto and hereto were
		upon the same instrument. This Agreement shall become effective when
		each
	 

	 
		 
	 

	 
		16
	 

	 
		 
	 

	 

	 
	 

	 

	 
		party hereto shall
		have received a counterpart hereof signed by the other party hereto. No
		provision of this Agreement is intended to confer upon any Person other than
		the parties hereto any rights or remedies hereunder.
	 

	 
		SECTION 12.05.
		Entire
		Agreement. This
		Agreement constitutes the entire agreement among the parties with respect to
		the subject matter of this Agreement and supersedes all prior agreements and
		understandings, both oral and written, between the parties with respect to the
		subject matter of this Agreement.
	 

	 
		SECTION 12.06.
		Amendment and
		Waiver. This
		Agreement may not be amended or supplemented nor may any of its provisions be
		waived except by an instrument in writing signed by the party against which the
		enforcement of the amendment, supplement or waiver shall be sought. No failure
		or delay of any party in exercising any power or right under this Agreement
		shall operate as a waiver of any such power or right, nor shall any single or
		partial exercise of any such right or power, or any abandonment or
		discontinuance of steps to enforce any such right or power, preclude any other
		or further exercise of such or any other right or power.
	 

	 
		SECTION 12.07.
		Third-Party
		Beneficiaries.
		The terms of this Agreement shall be binding upon, and inure to the benefit of,
		the parties and their respective successors and permitted assigns. Except as
		expressly set forth in this Agreement or as shall result from the inclusion of
		the Issuer Group’s rights under this Agreement in the Collateral, nothing
		in this Agreement, whether express or implied, shall be construed to give any
		Person (including any past, present or future employee of any Issuer Group
		Member or any of its Affiliates) other than the parties and their respective
		successors and permitted assigns any legal or equitable right or power under or
		in respect of this Agreement.
	 

	 
		SECTION 12.08.
		Method of
		Payment. All
		amounts required to be paid by any party to this Agreement to any other party
		(including in respect of any judgment or settlement) shall be paid in Dollars,
		by wire transfer, or other acceptable method of payment, of same day
		funds.
	 

	 
		SECTION 12.09.
		Payment on
		Business Days.
		If any payment under this Agreement is required to be made on a day other than
		a Business Day, such payment shall be made on the next succeeding Business Day,
		and no interest shall accrue on such payment.
	 

	 
		SECTION 12.10.
		Severability. Any provision of this
		Agreement that shall be prohibited or unenforceable in any jurisdiction shall,
		as to such jurisdiction, be ineffective to the extent of such prohibition or
		unenforceability without invalidating the remaining provisions of this
		Agreement and any such prohibition or unenforceability in any jurisdiction
		shall not invalidate or render unenforceable such provision in any other
		jurisdiction. To the extent permitted by applicable law, each of the parties to
		this Agreement waive any provision prohibited or unenforceable in any
		respect.
	 

	 
		SECTION 12.11.
		No
		Partnership.
		(a) It is expressly recognized and acknowledged that this Agreement is not
		intended to create a partnership, joint venture or other similar arrangement
		between any Issuer Group Member or Members on the one part and the 
	 

	 
		 
	 

	 
		17
	 

	 
		 
	 

	 

	 
	 

	 

	 
		Cash Manager on the
		other part. It is also expressly understood that any actions taken on behalf of
		any Issuer Group Member by the Cash Manager shall be taken as agent for such
		Issuer Group Member, either naming the relevant Issuer Group Member, or naming
		the Cash Manager as agent for an undisclosed principal. No Issuer Group Member
		shall hold itself out as a partner of the Cash Manager, and the Cash Manager
		will not hold itself out as a partner of any Issuer Group Member.
	 

	 
		(b) The Cash Manager
		shall not have any fiduciary duty or other implied obligations or duties to any
		Issuer Group Member, any Lessee or any other Person arising out of this
		Agreement.
	 

	 
		SECTION 12.12.
		Governing
		Law. THIS
		AGREEMENT SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
		WITH, THE LAWS OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS OF CONSTRUCTION,
		VALIDITY AND PERFORMANCE.
	 

	 
		SECTION 12.13.
		Jurisdiction. Except as otherwise expressly
		provided in this Agreement, the parties hereto agree that any suit, action or
		proceeding seeking to enforce any provision of, or based on any matter arising
		out of or in connection with, this Agreement or the transactions contemplated
		hereby may be brought in the United States District Court for the Southern
		District of New York or any other New York State court sitting in New York
		City, and each of the parties hereby consents to the jurisdiction of such
		courts (and of the appropriate appellate courts therefrom) in any such suit,
		action or proceeding and irrevocably waives, to the fullest extent permitted by
		law, any objection which it may now or hereafter have to the laying of the
		venue of any such suit, action or proceeding in any such court or that any such
		suit, action or proceeding which is brought in any such court has been brought
		in an inconvenient forum. Process in any such suit, action or proceeding may be
		served on any party anywhere in the world, whether within or without the
		jurisdiction of any such court. Without limiting the foregoing, each party
		agrees that service of process on such party as provided in Section 12.03 shall
		be deemed effective service of process on such party.
	 

	 
		SECTION 12.14
		Concerning the
		Security Trustee and the Trustee. In respect of the Security
		Trustee’s and Trustee’s performance of appointing the Cash Manager to
		provide the Cash Management Services, the Security Trustee and the Trustee
		shall be afforded all of the rights, protections, immunities and indemnities
		contained in the Security Trust Agreement and the Indenture, respectively, as
		if such rights, protections, immunities and indemnities were specifically set
		forth in this Agreement. It is expressly understood and agreed that neither the
		Security Trustee nor the Trustee (in such capacities) shall have any liability
		in respect of the appointment, performance or nonperformance of the Cash
		Manager (including without limitation, the payment of fees and Expenses to the
		Cash Manager), all such liability, if any, being expressly waived by the
		parties to this Agreement and by any Person claiming by, through or under such
		parties. The Issuer shall indemnify the Security Trustee and the Trustee (in
		such capacities) for any loss, cost or expense (including reasonable
		attorneys’ fees) incurred by the Security Trustee and the Trustee as a
		result of the negligence, bad faith or willful misconduct of the Cash Manager
		in the performance of its obligations hereunder.
	 

	 
		SECTION 12.15
		Concerning the
		Cash Manager.
	 

	 
		 
	 

	 
		18
	 

	 
		 
	 

	 

	 
	 

	 

	 
		(a) The Cash Manager
		undertakes to perform such duties and only such duties as are specifically set
		forth in this Agreement and the Indenture and no implied covenants or
		obligations shall be read into this Agreement or the Indenture against the Cash
		Manager.
	 

	 
		(b) None of the
		provisions of this Agreement or the Indenture shall require the Cash Manager to
		expend or risk its own funds or otherwise to incur any liability, financial or
		otherwise, in the performance of any of its duties hereunder, or in the
		exercise of any of its rights or powers if it shall have reasonable grounds for
		believing that repayment of such funds or indemnity satisfactory to it against
		such risk or liability is not assured to it.
	 

	 
		(c) The Cash
		Manager may conclusively rely and shall be fully protected in acting or
		refraining from acting upon any resolution, certificate, statement, instrument,
		opinion, report, notice, request, consent, order, approval or other paper or
		document believed by it to be genuine and to have been signed or presented by
		the proper party or parties. The Cash Manager shall not be bound to make any
		investigation into the facts or matters stated in any resolution, certificate,
		statement, instrument, opinion, report, notice, request, consent, entitlement
		order, approval or other paper or document.
	 

	 
		(d) The Cash Manager
		may consult with counsel and the advice or any opinion of counsel shall be full
		and complete authorization and protection in respect of any action taken or
		omitted by it hereunder in good faith and in accordance with such advise or
		opinion of counsel.
	 

	 
		(e) In no event
		shall the Cash Manager be liable for the selection of investments or for
		investment losses incurred thereon. The Cash Manager shall have no liability in
		respect of losses incurred as a result of the liquidation of any investment
		prior to its stated maturity or the failure of the Issuer or the Security
		Trustee (as applicable) to provide timely written investment direction.
	 

	 
		(f) The Cash Manager
		may execute any of the trusts or powers hereunder or perform any duties
		hereunder either directly or by or through agents, attorneys, custodians or
		nominees appointed with due care, and shall not be responsible for any willful
		misconduct or negligence on the part of any agent, attorney, custodian or
		nominee so appointed except any agent, attorney, custodian or nominee which is
		an Affiliate of Deutsche Bank Trust Company Americas (or any successor Cash
		Manager).
	 

	 
		(g) Notwithstanding
		anything hereunder to the contrary, any corporation into which the Cash Manager
		may be merged or converted or with which it may be consolidated, or any
		corporation resulting from any merger, conversion or consolidation to which the
		Cash Manager shall be a party, or any corporation succeeding to the business of
		the Cash Manager shall be the successor of the Cash Manager hereunder without
		execution or filing of any paper with any party hereto or any further act on
		the part of any of the parties hereto except where an instrument of transfer or
		assignment is required by law to effect such succession, anything herein to the
		contrary notwithstanding.
	 

	 
		 
	 

	 
		19
	 

	 
		 
	 

	 

	 
	 

	 

	 
		(h) Neither the Cash
		Manager nor any of its officers, directors, employees or agents shall be liable
		for any action taken or omitted under this Agreement or in connection herewith
		except to the extent caused by the Cash Manager’s own deceit, fraud,
		willful misconduct or gross negligence (or, with respect to the handling of
		finances, negligence) or that of any of its directors, officers, agents or
		employees. The parties (for itself and any Person claiming through it) hereby
		releases, waives, discharges and exculpates the Cash Manager for any action
		taken or omitted under this Agreement except to the extent caused by the Cash
		Manager’s own deceit, fraud, willful misconduct or gross negligence (or,
		with respect to the handling of finances, negligence) or that of any of its
		directors, officers, agents or employees. Anything in this Agreement to the
		contrary notwithstanding, in no event shall the Cash Manager be liable for
		special, indirect or consequential loss or damage of any kind whatsoever
		(including but not limited to lost profits), even if the Cash Manager has been
		advised of the likelihood of such loss or damage and regardless of the form of
		action.
	 

	 
		SECTION 12.16
		Limited
		Recourse.
	 

	 
		(a) In the
		event that the assets of the Issuer or any Issuer Group Member are
		insufficient, after payment of all other claims, if any, ranking in priority to
		the claims of the Cash Manager hereunder, to pay in full such claims of the
		Cash Manager, then the Cash Manager shall have no further claim against the
		Issuer or the relevant Issuer Group Member (as the case may be) in respect of
		any such unpaid amounts.
	 

	 
		(b) No recourse
		under any obligation, covenant or agreement of any party contained in this
		Agreement shall be had against any shareholder, officer or director of the
		relevant party as such, by the enforcement of any assessment or by any
		proceeding, by virtue of any statute or otherwise; it being expressly agreed
		and understood that this Agreement is a corporate obligation of the relevant
		party and no personal liability shall attach to or be incurred by the
		shareholders, officers, agents or directors of the relevant party as such, or
		any of them under or by reason of any of the obligations, covenants or
		agreements of such relevant party contained in this Agreement, or implied
		therefrom, and that any and all personal liability for breaches by such party
		of any of such obligations, covenants or agreements, either at law or by
		statute or constitution, of every such shareholder, officer, agent or director
		is hereby expressly waived by the other parties as a condition of and
		consideration for the execution of this Agreement.
	 

	 
		SECTION 12.17
		PATRIOT
		Act. The
		parties hereto acknowledge that, in order to comply with its obligations under
		the United States PATRIOT Act, Deutsche Bank Trust Company Americas is required
		to obtain, verify, and record certain information and documentation from the
		other parties hereto. Each of the parties hereby agree that it will provide
		Deutsche Bank Trust Company Americas with such information as it may request in
		order for it to satisfy the requirements of the United States PATRIOT
		Act.
	 

	 
		 
	 

	 
		 
	 

	 
		20
	 

	 
		 
	 

	 

	 
	 

	 

	 
		IN WITNESS WHEREOF,
		this Agreement has been duly executed as of the date first written
		above.
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  GENESIS
				  FUNDING LIMITED, as Issuer
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  

				  By 
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:

				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Title:
				

			 

 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  DEUTSCHE
				  BANK TRUST COMPANY AMERICAS, not in its individual capacity, but solely as the
				  Trustee and the Security Trustee, respectively
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  

				  By 
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:

				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Title:
				

			 

 

	 
		 
	 

	 
			
				
				

			 	
				
				   
				

			 	
				
				  

				  By 
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:

				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Title:
				

			 

 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  DEUTSCHE
				  BANK TRUST COMPANY AMERICAS, as the Cash Manager
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  

				  By 
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:

				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Title:
				

			 

 

	 
		 
	 

	 
			
				
				

			 	
				
				   
				

			 	
				
				  

				  By 
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:

				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Title:
				

			 

 

	 
		 
	 

	 

	 
	 

	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  [ISSUER
				  SUBSIDIARIES]
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  

				  By 
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:

				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Title:
				

			 

 

	 
		 
	 

	 

	 
	 

	 

	 
		SCHEDULE
		1
	 

	 
		THE LESSEE FUNDED
		ACCOUNTS
	 

	 
		 
	 

	 
			
				
				  ACCOUNT
				  NAME
				

			 	
				
				   
				

			 	
				
				  ACCOUNT
				  NUMBER
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 

 

	 
		 
	 

	 

	 
	 

	 

	 
		EXHIBIT
		A
	 

	 
		FORM OF ACCESSION
		AGREEMENT
	 

	 
		[DATE]
	 

	 
		We refer to the Cash
		Management Agreement dated as of o, 2006, among
		Genesis Funding Limited, as the Issuer, o, in its
		capacity as the Trustee, the Security Trustee and the Cash Manager, the
		Subsidiaries signatory thereto and all other Subsidiaries which have heretofore
		signed an Accession Agreement in substantially the form of this Accession
		Agreement (the “Cash Management Agreement”).
	 

	 
		We agree, as of the
		date of this Accession Agreement, to be considered a party to the Cash
		Management Agreement for all purposes, as if an original signatory to the Cash
		Management Agreement, and to be bound by the terms of the Cash Management
		Agreement.
	 

	 
		This Accession
		Agreement may be signed in any number of counterparts, each of which shall be
		an original, with the same effect as if the signatures thereto and hereto were
		upon the same instrument.
	 

	 
		IN WITNESS WHEREOF,
		this Accession Agreement has been duly executed on the date first written
		above.
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  [                                  ]

				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  

				  By: 
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:

				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Title:
				

			 

 

	 
		 
	 

	 
		ACCEPTED AND
		ACKNOWLEDGED:
	 

	 
		 
	 

	 
			
				
				  [    ],

				  as Cash Manager
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  

				  By: 
				

			 	
				
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				  Name:

				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				  Title:
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 

 

	 
		 
	 

	 

	 
	 

	 

	 
		 
	 

	 
			
				
				  GENESIS
				  FUNDING LIMITED,
				

				
				  as
				  Issuer
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  

				  By: 
				

			 	
				
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				  Name:

				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				  Title:
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 

 

	 
		 
	 

	 
			
				
				  [    ],

				  as Trustee and Security
				  Trustee
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  

				  By: 
				

			 	
				
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				  Name:

				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				  Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]