Document:

exv4w17

Exhibit 4.17

EXECUTION COPY

 

NOTE PURCHASE AGREEMENT

Dated as of June 28, 2011

Among

US AIRWAYS, INC.,

WILMINGTON TRUST COMPANY,

as Pass Through Trustee under each of the

Pass Through Trust Agreements

WILMINGTON TRUST COMPANY,

as Subordination Agent

WELLS FARGO BANK NORTHWEST, NATIONAL ASSOCIATION,

as Escrow Agent

and

WILMINGTON TRUST COMPANY,

as Paying Agent

 

 

 

INDEX TO NOTE PURCHASE AGREEMENT

	 	 	 	 	 
	 	 	Page	 
	SECTION 1. Financing of Aircraft
	 	 	3	 
	SECTION 2. Conditions Precedent
	 	 	5	 
	SECTION 3. Representations and Warranties
	 	 	6	 
	SECTION 4. Covenants
	 	 	9	 
	SECTION 5. Notices
	 	 	12	 
	SECTION 6. Expenses
	 	 	12	 
	SECTION 7. Further Assurances
	 	 	13	 
	SECTION 8. Miscellaneous
	 	 	13	 
	SECTION 9. Governing Law
	 	 	14	 

Schedules

	 	 	 

	Schedule I

	 	Aircraft
	Schedule II

	 	Trust Supplements
	Schedule III

	 	Required Terms

Annex

	 	 	 

	Annex A

	 	Definitions

Exhibits

	 	 	 

	Exhibit A

	 	Form of Closing Notice
	Exhibit B

	 	Form of Participation Agreement
	Exhibit C

	 	Form of Trust Indenture

 

 

NOTE PURCHASE AGREEMENT

          This NOTE PURCHASE AGREEMENT, dated as of June 28, 2011, among (i) US AIRWAYS, INC., a
Delaware corporation (the “Company”), (ii) WILMINGTON TRUST COMPANY (“WTC”), a
Delaware banking corporation, not in its individual capacity except as otherwise expressly provided
herein, but solely as trustee (in such capacity together with its successors in such capacity, the
“Pass Through Trustee”) under each of the three separate Pass Through Trust Agreements (as
defined below), (iii) WILMINGTON TRUST COMPANY, a Delaware banking corporation, as subordination
agent and trustee (in such capacity together with its successors in such capacity, the
“Subordination Agent”) under the Intercreditor Agreement (as defined below), (iv) WELLS
FARGO BANK NORTHWEST, NATIONAL ASSOCIATION, a national banking association, as Escrow Agent (in
such capacity together with its successors in such capacity, the “Escrow Agent”), under
each of the Escrow and Paying Agent Agreements (as defined below) and (v) WILMINGTON TRUST COMPANY,
a Delaware banking corporation, as Paying Agent (in such capacity together with its successors in
such capacity, the “Paying Agent”) under each of the Escrow and Paying Agent Agreements.

W I T N E S S E T H:

          WHEREAS, capitalized terms used but not defined herein shall have the meanings ascribed to
such terms in Annex A hereto;

          WHEREAS,
the Company is currently the owner of five (5) aircraft listed in Part A of
Schedule I hereto (the “Owned Aircraft”), certain of which are subject to an existing
security interest, and (ii) has obtained commitments from the Manufacturer pursuant to the Aircraft
Purchase Agreement for the delivery of the four Airbus A321-231 aircraft listed in Part B of
Schedule I hereto (together with any aircraft substituted therefor in accordance with the Aircraft
Purchase Agreement prior to the delivery thereof, the “New Aircraft” and, together with the
Owned Aircraft, the “Aircraft”);

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

          WHEREAS, pursuant to the Basic Pass Through Trust Agreement and each of the Trust Supplements
set forth in Schedule II hereto, and concurrently with the execution and delivery of this
Agreement, separate grantor trusts (collectively, the “Pass Through Trusts” and,
individually, a “Pass Through Trust”) have been created to facilitate certain of the
transactions contemplated hereby, including, without limitation, the issuance and sale of pass
through certificates pursuant thereto (collectively, the “Certificates”) to provide for a
portion of the financing of the Aircraft contemplated hereby;

          WHEREAS, the Company has entered into an underwriting agreement, dated as of June 21, 2011
(the “A and B Underwriting Agreement”) with the Underwriters named therein (the
“Underwriters”), which provides that the Company will cause the Pass Through Trustee under
the Class A Pass Through Trust (the “Class A Pass Through Trustee”), the Pass Through
Trustee under the Class B Pass Through Trust (the “Class B Pass Through Trustee”) to issue
and

 

 

sell the Class A Certificates and the Class B, respectively, to the Underwriters on the
Issuance Date and the Company has entered into an underwriting agreement, dated as of June 22, 2011
(the “C Underwriting Agreement” together with the A and B Underwriting Agreement, the
“Underwriting Agreements”) with the Underwriters, which provides that the Company will
cause the Pass Through Trustee under the Class C Pass Through Trust (the “Class C Pass Through
Trustee”) to issue and sell the Class C Certificates to the Underwriters on the Issuance Date;

          WHEREAS, concurrently with the execution and delivery of this Agreement, (i) the Escrow Agent
and the Depositary have entered into three Deposit Agreements, dated as of the Issuance Date, one
each relating to the Class A, Class B and Class C Pass Through Trust (together, the “Deposit
Agreements”) whereby the Escrow Agent agreed to direct the Underwriters to make certain
deposits referred to therein on the Issuance Date (the “Initial Deposits”) and to permit
the applicable Pass Through Trustees to make additional deposits from time to time thereafter (the
Initial Deposits together with such additional deposits are collectively referred to as the
“Deposits”) and (ii) the applicable Pass Through Trustees, Underwriters, Paying Agents and
Escrow Agents have entered into three Escrow and Paying Agent Agreements, dated as of the Issuance
Date, one each relating to the Class A, Class B and Class C Pass Through Trust (together, the
“Escrow and Paying Agent Agreements”), whereby, among other things, (a) the Underwriters
agreed to deliver an amount equal to the amount of the Initial Deposits to the Depositary on behalf
of the applicable Escrow Agent and (b) the applicable Escrow Agent, upon the Depositary receiving
such amount, agreed to deliver escrow receipts to be affixed to each Certificate;

          WHEREAS, upon receipt of a Closing Notice with respect to an Aircraft, subject to the terms
and conditions of this Agreement, the applicable Pass Through Trustees will enter into the
applicable Financing Agreements relating to such Aircraft;

          WHEREAS, upon the financing of each Aircraft, the Class A, Class B and Class C Pass Through
Trustees each will fund its purchase of Equipment Notes with the proceeds of one or more Deposits
withdrawn by the applicable Escrow Agent under the related Deposit Agreement bearing the same
interest rate as the Certificates issued by the applicable Pass Through Trust (or, if financed on
the Issuance Date, with a portion of the proceeds from the offering of the Certificates);

          WHEREAS, US Airways Group, Inc., a Delaware corporation, will guarantee the payment
obligations of the Company under the Trust Indentures, the Participation Agreements and the
Equipment Notes pursuant to a guarantee dated as of the date hereof; and

          WHEREAS, concurrently with the execution and delivery of this Agreement, (i) Natixis S.A., a
Société Anonyme, organized under the laws of the Republic of France, acting through its New York
Branch (the “Liquidity Provider”), has entered into two revolving credit agreements, one
each for the benefit of the Certificateholders of the Class A and Class B Pass Through Trusts, in
each case, with the Subordination Agent, as agent for the Pass Through Trustee on behalf of each
such Pass Through Trust (each such revolving credit agreement with the Liquidity Provider, a
“Liquidity Facility”) and (ii) the Pass Through Trustees, the Liquidity Provider and the
Subordination Agent have entered into the Intercreditor Agreement, dated as of the date hereof (as
amended by Amendment No. 1 to Intercreditor Agreement dated the date

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hereof, the “Intercreditor Agreement”) among the Class A and Class B Pass Through
Trustees, the Liquidity Provider and Wilmington Trust Company as Subordination Agent and Trustee.

          NOW, THEREFORE, in consideration of the foregoing premises and the mutual agreements herein
contained and other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto agree as follows:

          SECTION 1. Financing of Aircraft. (a) The Company confirms that (i) it currently
owns the Owned Aircraft and (ii) it has entered into the Aircraft Purchase Agreement with the
Manufacturer pursuant to which the Company has agreed to purchase, and the Manufacturer has agreed
to deliver, the New Aircraft in the months specified in Schedule I hereto, all on and subject to
terms and conditions specified in the Aircraft Purchase Agreement. The Company agrees to finance
the Aircraft in the manner provided herein, all on and subject to the terms and conditions hereof
and of the relevant Financing Agreements.

          (b) In furtherance of the foregoing, the Company agrees to give the parties hereto, the
Depositary and each of the Rating Agencies not less than two Business Days’ prior notice
substantially in the form of Exhibit A hereto (a “Closing Notice”) of the scheduled closing
date (the “Scheduled Closing Date”) (or, in the case of a substitute Closing Notice under
Section 1(e) or (f) hereof, one Business Day’s prior notice) in respect of the financing of each
Aircraft under this Agreement, which notice shall:

          (i) specify the Scheduled Closing Date of such Aircraft (which shall be a Business Day before
the Cut-off Date and, except as provided in Section 1(f) hereof, the date (the “Funding
Date”) on which the financing therefor in the manner provided herein shall be consummated);

          (ii) instruct each Pass Through Trustee being requested to purchase Equipment Notes pursuant
to such Closing Notice (the “Applicable Pass Through Trustees”) to enter into the
Participation Agreement included in the Financing Agreements with respect to such Aircraft in such
form and at such a time on or before the Funding Date specified in such Closing Notice and to
perform its obligations thereunder;

          (iii) instruct each of the Class A, Class B and Class C Pass Through Trustees to instruct the
relevant Escrow Agent to provide a Notice of Purchase Withdrawal to the Depositary with respect to
the Equipment Notes to be issued to such Pass Through Trustee in connection with the financing of
such Aircraft (except in the case of any such financing on the Issuance Date); and

          (iv) specify the aggregate principal amount of each series of Equipment Notes, if any, to be
issued, and purchased by the Applicable Pass Through Trustees, in connection with the financing of
such Aircraft scheduled on such Funding Date (which shall in all respects comply with the Required
Terms).

Notwithstanding the foregoing, in the case of any Aircraft to be financed hereunder on the Issuance
Date, the Closing Notice therefor may be delivered to the parties hereto on the Issuance Date.

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          (c) Upon receipt of a Closing Notice, the Applicable Pass Through Trustees shall, and shall
cause the Subordination Agent to, enter into and perform their respective obligations under the
Participation Agreement specified in such Closing Notice, provided that such Participation
Agreement and the Trust Indenture to be entered into pursuant to such Participation Agreement shall
be in the forms thereof annexed hereto in all material respects and, if modified in any material
respect, as to which Rating Agency Confirmation shall have been obtained from each Rating Agency by
the Company (to be delivered by the Company to the Applicable Pass Through Trustees on or before
the relevant Funding Date, it being understood that if Rating Agency Confirmation shall have been
received with respect to any Financing Agreements and such Financing Agreements are utilized for
subsequent Aircraft (or Substitute Aircraft) without material modifications, no additional Rating
Agency Confirmation shall be required); provided, however, that the relevant
Financing Agreements as executed and delivered shall not vary the Required Terms. Notwithstanding
the foregoing, a Trust Indenture may be modified to the extent required for the issuance of
Equipment Notes pursuant to Section 4(a)(v) of this Agreement, subject to the terms of such Section
and Section 9.1(c) of the Intercreditor Agreement. The Company shall pay the reasonable costs and
expenses of the Rating Agencies in connection with obtaining any such Rating Agency Confirmation.
With respect to each Aircraft, the Company shall cause WTC (or such other person that meets the
eligibility requirements to act as indenture trustee under the Trust Indenture) to execute as
Indenture Trustee the Financing Agreements relating to such Aircraft to which such Indenture
Trustee is intended to be a party, and shall concurrently therewith execute such Financing
Agreements to which the Company is intended to be a party and perform its respective obligations
thereunder. Upon the request of either Rating Agency, the Company shall deliver or cause to be
delivered to such Rating Agency a true and complete copy of each Financing Agreement relating to
the financing of each Aircraft together with a true and complete set of the closing documentation
(including legal opinions) delivered to the related Indenture Trustee, Subordination Agent and Pass
Through Trustee under the related Participation Agreement.

          (d) The Company agrees that all Equipment Notes issued pursuant to any Trust Indenture shall
initially be registered in the name of the Subordination Agent on behalf of the Applicable Pass
Through Trustee.

          (e) If, after giving any Closing Notice, there shall be a delay in the delivery of the New
Aircraft referred to therein, or if on the Scheduled Closing Date of the New Aircraft or Owned
Aircraft referred to therein the financing thereof in the manner contemplated hereby shall not be
consummated for whatever reason, the Company shall give the parties hereto and the Depositary
prompt notice thereof. Concurrently with the giving of such notice of postponement or
subsequently, the Company shall give the parties hereto and the Depositary a substitute Closing
Notice specifying the date to which the financing of such New Aircraft (or of another New Aircraft
of the same model in lieu thereof) or such Owned Aircraft shall have been re-scheduled (which shall
be a Business Day before the Cut-off Date on which the Escrow Agents shall be entitled to withdraw
one or more Deposits under each of the applicable Deposit Agreements to enable each of the Class A,
Class B and Class C Pass Through Trustees to fund its purchase of the related Equipment Notes).
Upon receipt of any such notice of postponement, each Applicable Pass Through Trustee shall comply
with its obligations under Section 5.01 of each of the Trust Supplements and thereafter the
financing of such New Aircraft or such Owned Aircraft, as specified in such substitute Closing
Notice, shall take place on the re-scheduled

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Closing Date therefor (all on and subject to the terms and conditions of the relevant
Financing Agreements) unless further postponed as provided herein.

          (f) Anything in this Section 1 to the contrary notwithstanding, the Company shall have the
right to accept delivery of a New Aircraft under the Aircraft Purchase Agreement on the Delivery
Date thereof by utilization of bridge financing of such New Aircraft and promptly thereafter give
the parties hereto and the Depositary a Closing Notice specifying a Funding Date not later than 90
days after the Delivery Date of such New Aircraft and no later than the Cut-off Date and otherwise
complying with the provisions of Section 1(b) hereof. All other terms and conditions of this Note
Purchase Agreement shall apply to the financing of any such New Aircraft on the re-scheduled
Funding Date therefor except the related Financing Agreements shall be amended to reflect the
original delivery of such New Aircraft to the Company.

          (g) If the scheduled delivery date from the Manufacturer for any New Aircraft is delayed more
than 30 days beyond the last day of the month set forth opposite such New Aircraft under the
heading “Scheduled Delivery Months” in Part B of Schedule I hereto, the Company may identify for
delivery a substitute aircraft therefor meeting the following conditions (a “Substitute
Aircraft”): (i) a Substitute Aircraft must be of the same model as the New Aircraft being
replaced and (ii) the Company shall be obligated to obtain Rating Agency Confirmation in respect of
the replacement of any New Aircraft by Substitute Aircraft. Upon the satisfaction of the
conditions set forth above with respect to a Substitute Aircraft, the New Aircraft to be replaced
shall cease to be subject to this Agreement and all rights and obligations of the parties hereto
concerning such New Aircraft shall cease, and such Substitute Aircraft shall become and thereafter
be subject to the terms and conditions of this Agreement to the same extent as such New Aircraft.

          (h) The Company shall have no liability for the failure of the Pass Through Trustees to
purchase Equipment Notes with respect to any Aircraft or Substitute Aircraft.

          (i) Anything herein to the contrary notwithstanding, the Company shall not have the right, and
shall not be entitled, at any time to request the issuance of Equipment Notes of any series to the
Class A, Class B or Class C Pass Through Trustee in an aggregate principal amount in excess of the
amount of the Deposits then available for withdrawal by the Escrow Agent under and in accordance
with the provisions of the related Deposit Agreement.

          SECTION 2. Conditions Precedent. The obligation of the Applicable Pass Through
Trustees to enter into, and to cause the Subordination Agent to enter into, any Participation
Agreement as directed pursuant to a Closing Notice and to perform its obligations thereunder is
subject to satisfaction of the following conditions:

          (a) no Triggering Event shall have occurred; and

          (b) the Company shall have delivered a certificate to each such Pass Through Trustee and the
Liquidity Provider stating (i) that such Participation Agreement and the other Financing Agreements
to be entered into pursuant to such Participation Agreement do not
vary the Required Terms and (ii) that any substantive modification of such Financing Agreements

5

 

from the forms of Financing Agreements attached to this Agreement do not materially and adversely
affect the Certificateholders or the Liquidity Provider, and such certification shall be true and
correct.

          Anything herein to the contrary notwithstanding, the obligation of each Pass Through Trustee
to purchase Equipment Notes shall terminate on the Cut-off Date.

          SECTION 3. Representations and Warranties. (a) The Company represents and warrants
that:

     (i) the Company is duly incorporated, validly existing and in good standing
under the laws of the State of Delaware and is a “citizen of the United States” as
defined in Section 40102(a)(15) of the Act, and has the full corporate power,
authority and legal right under the laws of the State of Delaware to execute and
deliver this Agreement and each Financing Agreement to which it will be a party and
to carry out the obligations of the Company under this Agreement and each Financing
Agreement to which it will be a party;

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

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

          (b) WTC represents and warrants that:

     (i) WTC is duly incorporated, validly existing and in good standing under the
laws of the State of Delaware and is a “citizen of the United States” as defined in
Section 40102(a)(15) of the Act, and has the full corporate power, authority and
legal right under the laws of the State of Delaware and the United States pertaining
to its banking, trust and fiduciary powers to execute and deliver this Agreement and
each Financing Agreement to which it will be a party and to carry out the
obligations of WTC, in its capacity as Subordination Agent, Pass Through Trustee or
Paying Agent, as the case may be, under this Agreement and each Financing Agreement
to which it will be a party;

     (ii) the execution and delivery by WTC, in its capacity as Subordination
Agent, Pass Through Trustee or Paying Agent, as the case may be, of this Agreement
and the performance by WTC, in its capacity as Subordination Agent, Pass Through
Trustee or Paying Agent, as the case may be, of its obligations
under this Agreement have been duly authorized by WTC, in its capacity as

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Subordination Agent, Pass Through Trustee or Paying Agent, as the case may be, and
will not violate its articles of association or by-laws or the provisions of any
indenture, mortgage, contract or other agreement to which it is a party or by which
it is bound; and

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

          (c) The Pass Through Trustee hereby confirms to each of the other parties hereto that its
representations and warranties set forth in Section 7.15 of the Basic Pass Through Trust Agreement
and Section 5.04 of each Trust Supplement are true and correct as of the date hereof.

          (d) The Subordination Agent represents and warrants that:

     (i) the Subordination Agent is duly incorporated, validly existing and in good
standing under the laws of the State of Delaware, and has the full corporate power,
authority and legal right under the laws of the State of Delaware and the United
States pertaining to its banking, trust and fiduciary powers to execute and deliver
this Agreement and each Financing Agreement to which it is or will be a party and to
perform its obligations under this Agreement and each Financing Agreement to which
it is or will be a party;

     (ii) this Agreement has been duly authorized, executed and delivered by the
Subordination Agent; this Agreement constitutes the legal, valid and binding
obligations of the Subordination Agent enforceable against it in accordance with its
terms, except as the same may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the rights of creditors
generally and by general principles of equity, whether considered in a proceeding at
law or in equity;

     (iii) none of the execution, delivery and performance by the Subordination
Agent of this Agreement contravenes any law, rule or regulation of the State of
Delaware or any United States governmental authority or agency regulating the
Subordination Agent’s banking, trust or fiduciary powers or any judgment or order
applicable to or binding on the Subordination Agent and do not contravene the
Subordination Agent’s articles of association or by-laws or result in any breach of,
or constitute a default under, any agreement or instrument to which the
Subordination Agent is a party or by which it or any of its properties may be bound;

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     (iv) neither the execution and delivery by the Subordination Agent of this
Agreement nor the consummation by the Subordination Agent of any of the transactions
contemplated hereby requires the consent or approval of, the giving of notice to,
the registration with, or the taking of any other action with respect to, any
Delaware governmental authority or agency or any federal governmental authority or
agency regulating the Subordination Agent’s banking, trust or fiduciary powers;

     (v) there are no Taxes payable by the Subordination Agent imposed by the State
of Delaware or any political subdivision or taxing authority thereof in connection
with the execution, delivery and performance by the Subordination Agent of this
Agreement (other than franchise or other taxes based on or measured by any fees or
compensation received by the Subordination Agent for services rendered in connection
with the transactions contemplated by the Intercreditor Agreement or any of the
Liquidity Facilities), and there are no Taxes payable by the Subordination Agent
imposed by the State of Delaware or any political subdivision thereof in connection
with the acquisition, possession or ownership by the Subordination Agent of any of
the Equipment Notes (other than franchise or other taxes based on or measured by any
fees or compensation received by the Subordination Agent for services rendered in
connection with the transactions contemplated by the Intercreditor Agreement or any
of the Liquidity Facilities); and

     (vi) there are no pending or threatened actions or proceedings against the
Subordination Agent before any court or administrative agency which
individually or in the aggregate, if determined adversely to it, would materially adversely affect
the ability of the Subordination Agent to perform its obligations under this
Agreement.

          (e) The Escrow Agent represents and warrants that:

     (i) the Escrow Agent is a national banking association duly incorporated,
validly existing and in good standing under the laws of the United States and has
the full corporate power, authority and legal right under the laws of the United
States pertaining to its banking, trust and fiduciary powers to execute and deliver
this Agreement, each Deposit Agreement and each Escrow and Paying Agent Agreement
(collectively, the “Escrow Agent Agreements”) and to carry out the
obligations of the Escrow Agent under each of the Escrow Agent Agreements;

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

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

          (f) The Paying Agent represents and warrants that:

     (i) the Paying Agent is duly incorporated, validly existing and in good
standing under the laws of the State of Delaware and has the full corporate power,
authority and legal right under the laws of the State of Delaware and the United
States pertaining to its banking, trust and fiduciary powers to execute and deliver
this Agreement and each Escrow and Paying Agent Agreement (collectively, the
“Paying Agent Agreements”) and to carry out the obligations of the Paying
Agent under each of the Paying Agent Agreements;

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

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

          SECTION 4. Covenants. (a) The Company covenants with each of the other parties
hereto that:

          (i) subject to Section 4(a)(iii) of this Agreement, the Company shall at all times maintain
its corporate existence and shall not wind up, liquidate or dissolve or take any action, or fail to
take any action, that would have the effect of any of the foregoing;

          (ii) the Company shall at all times remain a U.S. Air Carrier (as defined in the Financing
Agreements) and shall at all times be otherwise certificated and registered to the extent necessary
to entitle the Indenture Trustee to the rights afforded to secured parties of aircraft equipment
under Section 1110;

          (iii) Section 4.07 of each Trust Indenture is hereby incorporated by reference herein;

          (iv) the Company agrees to provide written notice to each of the parties hereto of the
occurrence of the Cut-off Date no later than one Business Day after the date thereof, such

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notice to refer specifically to the Pass Through Trustee’s obligation to assign, transfer and
deliver all of its right, title and interest to the Trust Property (as defined in each Pass Through
Trust Agreement) to the trustee of the Related Trust (as defined in each Pass Through Trust
Agreement) in accordance with Section 7.01 of each of the Trust Supplements;

          (v) the Company shall not (x) redeem and re-issue any Series B Equipment Notes or Series C
Equipment Notes, unless it shall have obtained written confirmation from each Rating Agency that
the reissuance or issuance of such Equipment Notes, as the case may be, will not result in (1) a
reduction of the rating for any Class of Certificates then rated by any Rating Agency that will
remain outstanding below the then current rating for such Class of Certificates or (2) a withdrawal
or suspension of the rating of any Class of Certificates then rated by any Rating Agency that will
remain outstanding. Any redemption or reissuance of the Series B Equipment Notes or Series C
Equipment Notes shall be subject to the terms of Section 9.1(c) of the Intercreditor Agreement; and

          (vi) If (x) the Depositary’s short-term unsecured debt rating or short-term issuer credit
rating, as the case may be, shall at any time fall below A-1+ from Standard & Poor’s Ratings
Services or P-1 from Moody’s Investors Service, Inc. (such minimum ratings, the “Depositary
Threshold Ratings”) or (y) the Company or the Depositary, in its sole discretion, gives written
notice to the other of its election that the Depositary be replaced, the Company shall, within 30
days after such event occurring, cause the Depositary to be replaced with a depositary bank (a
“Replacement Depositary”) on the following terms and preconditions:

          (A) the Replacement Depositary must meet the Depositary Threshold Ratings and the Company
shall have obtained written confirmation from each Rating Agency that such replacement will not
cause a reduction of any rating then in effect for any Class of Certificates by such Rating Agency
(without regard to any downgrading of any rating of the Depositary being replaced);

          (B) the Company shall pay all fees, expenses and other amounts then owing to the replaced
Depositary and, except as expressly provided in clause (C) below, the Company shall pay any
up-front fee of the Replacement Depositary and (without limitation of the foregoing) all
out-of-pocket expenses (including reasonable fees and expenses of legal counsel) of the parties
hereto (including without limitation all amounts payable to the Rating Agencies) incurred in
connection with such replacement;

          (C) solely in the case of the Depositary making an election in its discretion that it be
replaced (and without limitation of clause (A) above), (x) the notice given by the Depositary to
the Company shall nominate a Replacement Depositary, which shall satisfy all of terms and
preconditions of this Section 4(a)(vi) (and the Company shall have the right to utilize such
nominee as the Replacement Depositary or to select another Replacement Depositary), (y) the fees,
expenses, indemnities and other amounts payable to the Replacement Depositary upon its execution of
the Replacement Deposit Agreement or thereafter shall not to any extent exceed those which would
have been payable to the Depositary had such replacement not occurred (it being specifically
understood and agreed that any up-front fee of the Replacement Depositary shall be paid by the
replaced Depositary, provided that, if the Company selects a Replacement Depositary other than the
nominee of the replaced Depositary and the upfront fee

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of such selection exceeds that of such nominee, the Company shall pay such excess), and (without
limitation of the foregoing) the Depositary shall pay all out-of-pocket expenses (including
reasonable fees and expenses of legal counsel) of the parties hereto (including without limitation
all amounts payable to the Rating Agencies) incurred in connection with such replacement, and (z)
the Replacement Depositary shall be willing to enter into a Replacement Deposit Agreement for each
of the Class A, Class B and Class C Certificates with the Escrow Agent having the same terms and
conditions (including without limitation as to the interest to be paid on the Deposits) as the
Deposit Agreements to which the Depositary is a party; and

          (D) the Company or, in the case of the Depositary making an election that it be replaced
(unless the Company shall have selected such Replacement Depositary), the Depositary, shall cause
the Replacement Depositary to enter into a Replacement Deposit Agreement for each of the Class A,
Class B and Class C Certificates with the Escrow Agent (and, upon request of the Company the Escrow
Agent agrees to enter into any such Replacement Deposit Agreement) and shall cause the Replacement
Depositary to deliver to the Company and each Rating Agency legal opinions and other closing
documentation substantially similar in scope and substance as those that were delivered by the
Depositary being replaced in connection with the execution and delivery of the Deposit Agreement
being replaced.

          Upon satisfaction of the foregoing conditions, the Company shall instruct the Class A Pass
Through Trustee, the Class B Pass Through Trustee and the Class C Pass Through Trustee, and each
such Pass Through Trustee agrees, to execute and deliver to the Escrow Agent a duly completed
Withdrawal Certificate (as defined in the Escrow and Paying Agent Agreements) together with a
Notice of Replacement Withdrawal (as defined in the Escrow and Paying Agent Agreements).

          Each of the parties hereto agrees, at the Company’s request, to enter into any amendments to
this Agreement, the Escrow and Paying Agent Agreements and any other Operative Agreements as may be
necessary or desirable to give effect to the replacement of the Depositary with the Replacement
Depositary and the replacement of the Deposit Agreements with the Replacement Deposit Agreements.

          Upon the execution and delivery of the Replacement Deposit Agreements, the Replacement
Depositary shall be deemed to be the Depositary with all of the rights and obligations of the
Depositary hereunder and under the other Operative Agreements and the Replacement Deposit
Agreements shall be deemed to be the Deposit Agreements hereunder and under the other Operative
Agreements, except that the obligations of the replaced Depositary under its Deposit Agreements
resulting from the delivery of any Withdrawal Notice delivered thereunder shall remain in full
force and effect notwithstanding the execution and delivery of the Replacement Deposit Agreements.

          (vii) Promptly after the occurrence of a Triggering Event or an Indenture Default resulting
from the failure of the Company to make payments on any Equipment Note and on every Regular
Distribution Date while the Triggering Event or such Indenture Default shall be continuing, the
Company will, at the Subordination Agent’s request from time to time but in any event no more
frequently than once every three months, provide to the Subordination Agent a statement setting
forth the following information with respect to each Aircraft then subject to the

11

 

lien of a Trust Indenture: (A) whether the Aircraft are currently in service or parked in
storage, (B) the maintenance status of the Aircraft and (C) the location of the Engines (as defined
in the respective Trust Indentures to which such Aircraft are subject). As used in this sentence,
the terms “Triggering Event”, “Indenture Default”, “Regular Distribution Date” shall have the
respective meanings set forth in the Intercreditor Agreement as originally executed.

          (b) WTC, in its individual capacity, covenants with each of the other parties to this
Agreement that it will, immediately upon obtaining knowledge of any facts that would cast doubt
upon its continuing status as a “citizen of the United States” as defined in Section 40102(a)(15)
of the Act and promptly upon public disclosure of negotiations in respect of any transaction which
would or might adversely affect such status, notify in writing all parties hereto of all relevant
matters in connection therewith. Upon WTC giving any such notice, WTC shall, subject to Section
9.01 of any Trust Indenture then entered into, resign as Indenture Trustee in respect of such Trust
Indenture.

          SECTION 5. Notices. Unless otherwise specifically provided herein, all notices
required or permitted by the terms of this Agreement shall be in English and in writing, and any
such notice shall become effective upon being delivered personally or, if promptly confirmed by
mail, when dispatched by facsimile or other written telecommunication, addressed to such party
hereto at its address or facsimile number set forth below the signature of such party at the foot
of this Agreement or to such other address or facsimile number as such party may hereafter specify
by notice to the other parties.

          SECTION 6. Expenses. (a) The Company agrees to pay to the Subordination Agent when
due an amount or amounts equal to the fees payable to the Liquidity Provider under Section 2.03 of
each Liquidity Facility and the related Fee Letter (as defined in the Intercreditor Agreement)
multiplied by a fraction the numerator of which shall be the then outstanding aggregate amount of
the Deposits under the Deposit Agreements pertaining to the Class A and Class B Pass Through Trusts
and the denominator of which shall be the sum of (x) the then outstanding aggregate principal
amount of the Series A Equipment Notes and Series B Equipment Notes issued under all of the Trust
Indentures and (y) the then outstanding aggregate amount of the Deposits under the Deposit
Agreements pertaining to the Class A and Class B Pass Through Trusts.

          (b) So long as no Equipment Notes have been issued in respect of any Aircraft, the Company
agrees to pay (i) to the Subordination Agent when due (A) the amount equal to interest on any
Downgrade Advance (other than any Applied Downgrade Advance) payable under Section 3.07 of each
Liquidity Facility minus Investment Earnings while such Downgrade Advance shall be outstanding, (B)
the amount equal to interest on any Non-Extension Advance (other than any Applied Non-Extension
Advance) payable under Section 3.07 of each Liquidity Facility minus Investment Earnings while such
Non-Extension Advance shall be outstanding, (C) the amount equal to interest on any Special
Termination Advance (other than any Applied Special Termination Advance) payable under Section 3.07
of each Liquidity Facility minus Investment Earnings from such Special Termination Advance while
such Special Termination Advance shall be outstanding, and (D) any other amounts owed to the
Liquidity Provider by the Subordination Agent as borrower under each Liquidity Facility (other than
amounts due as repayment of advances thereunder or as interest on such advances, except to the

12

 

extent payable pursuant to clause (A), (B) or (C)), (ii) all compensation and reimbursement of
expenses, disbursements and advances payable by the Company under the Pass Through Trust
Agreements, (iii) all compensation and reimbursement of expenses and disbursements payable to the
Subordination Agent under the Intercreditor Agreement except with respect to any income or
franchise taxes incurred by the Subordination Agent in connection with the transactions
contemplated by the Intercreditor Agreement and (iv) in the event the Company requests any
amendment to any Operative Agreement, all reasonable fees and expenses (including, without
limitation, fees and disbursements of counsel) of the Escrow Agent and/or the Paying Agent in
connection therewith. For purposes of this Section 6(b), the terms “Applied Downgrade Advance”,
“Applied Non-Extension Advance”, “Applied Special Termination Advance”, “Downgrade Advance”,
“Investment Earnings”, “Non-Extension Advance” and “Special Termination Advance” shall have the
meanings specified in each Liquidity Facility.

          SECTION 7. Further Assurances. Each party hereto shall duly execute, acknowledge and
deliver, or shall cause to be executed, acknowledged and delivered, all such further agreements,
instruments, certificates or documents, and shall do and cause to be done such further acts and
things, in any case, as any other party hereto shall reasonably request in connection with its
administration of, or to carry out more effectually the purposes of, or to better assure and
confirm unto it the rights and benefits to be provided under, this Agreement.

          SECTION 8. Miscellaneous. (a) Provided that the transactions contemplated hereby
have been consummated, in whole or in part, and except as otherwise provided for herein, the
representations, warranties and agreements herein of the Company, the Subordination Agent, the
Escrow Agent, the Paying Agent and the Pass Through Trustee, and the Company’s, the Subordination
Agent’s, the Escrow Agent’s, the Paying Agent’s and the Pass Through Trustee’s obligations under
any and all thereof, shall survive the expiration or other termination of this Agreement and the
other agreements referred to herein.

          (b) This Agreement may be executed in any number of counterparts (and each of the parties
hereto shall not be required to execute the same counterpart). Each counterpart of this Agreement,
including a signature page executed by each of the parties hereto, shall be an original counterpart
of this Agreement, but all of such counterparts together shall constitute one instrument. Neither
this Agreement nor any of the terms hereof may be terminated, amended, supplemented, waived or
modified orally, but only by an instrument in writing signed by the party against which the
enforcement of the termination, amendment, supplement, waiver or modification is sought. The index
preceding this Agreement and the headings of the various Sections of this Agreement are for
convenience of reference only and shall not modify, define, expand or limit any of the terms or
provisions hereof. The terms of this Agreement shall be binding upon, and shall inure to the
benefit of, the Company and its successors and permitted assigns, the Pass Through Trustee and its
successors as Pass Through Trustee (and any additional trustee appointed) under any of the Pass
Through Trust Agreements, the Escrow Agent and its successors as Escrow Agent under the Escrow and
Paying Agent Agreements, the Paying Agent and its successors as Paying Agent under the Escrow and
Paying Agent Agreement and the Subordination Agent and its successors as Subordination Agent under
the Intercreditor Agreement.

13

 

          (c) This Agreement is not intended to, and shall not, provide any person not a party hereto
(other than the Underwriters, each of the beneficiaries of Section 6 hereof and the Depositary as a
beneficiary of Section 4(a)(vi)) with any rights of any nature whatsoever against any of the
parties hereto, and no person not a party hereto (other than the Underwriters, each of the
beneficiaries of Section 6 hereof and the Depositary as a beneficiary of Section 4(a)(vi)) shall
have any right, power or privilege in respect of, or have any benefit or interest arising out of,
this Agreement. To the extent that this Agreement expressly confers upon, gives or grants any
right, power, privilege, benefit, interest, remedy or claim to any of the beneficiaries of Section
6 hereof (including, but not limited to rights, powers, privileges, benefits, interests, remedies
and claims under Section 6) or to the Depositary with respect to Section 4(a)(vi), each such party
is hereby recognized as a third party beneficiary hereunder and may enforce any such right, power,
privilege, benefit, interest, remedy or claim.

          SECTION 9. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. THIS AGREEMENT IS BEING DELIVERED IN THE STATE
OF NEW YORK.

14

 

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

	 	 	 	 	 	 	 

	 	 	US AIRWAYS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Thomas T. Weir	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Thomas T. Weir

Title: Vice President and Treasurer	 	 
	 

	 	Address:
	 	111 West Rio Salado Parkway

Tempe, Arizona 85281

Attention: Treasurer

Facsimile: (480) 693-5886	 	 
	 
	 	 	 	 	 	 
	 	 	WILMINGTON TRUST COMPANY,	 	 
	 	 	not in its individual capacity, except as otherwise

provided herein, but solely as Pass Through Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Robert P. Hines, Jr.	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Robert P. Hines, Jr.

Title: Assistant Vice President	 	 
	 
	 

	 	Address:
	 	1100 North Market Street

Wilmington, Delaware 19890-1605

Attention: Corporate Trust

Administration

Facsimile: (302) 636-4140	 	 

15

 

	 	 	 	 	 	 	 

	 	 	WILMINGTON TRUST COMPANY,	 	 
	 	 	not in its individual capacity, except as otherwise

provided herein, but solely as Subordination Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Robert P. Hines, Jr.	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Robert P. Hines, Jr.

Title: Assistant Vice President	 	 
	 
	 

	 	Address:
	 	1100 North Market Street

Wilmington, Delaware 19890-1605

Attention: Corporate Trust

Administration

Facsimile: (302) 636-4140	 	 
	 
	 	 	 	 	 	 
	 	 	WELLS FARGO BANK NORTHWEST, NATIONAL ASSOCIATION,

as Escrow Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Scott Rosevear
	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Scott Rosevear

Title: Vice President	 	 
	 

	 	Address:
	 	299 South Main Street 

Salt Lake City, 12th Floor Utah 84111

Attention: Corporate Trust

Department

Facsimile: (801) 246-5053	 	 

16

 

	 	 	 	 	 	 	 

	 	 	WILMINGTON TRUST COMPANY,

as Paying Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Robert P. Hines, Jr.	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Robert P. Hines, Jr.

Title: Assistant Vice President	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:
	 	1100 North Market Street

Wilmington, Delaware 19890-1605

Attention: Corporate Trust

Administration

Facsimile: (302) 636-4140	 	 

17

 

SCHEDULE I to

Note Purchase Agreement

[to be updated]

Part A — OWNED AIRCRAFT

	 	 	 	 	 	 	 	 	 
	 	 	Registration	 	 	Manufacturer’s	 
	Aircraft Type	 	Number	 	 	Serial Number	 
	 
	 	 	 	 	 	 	 	 

Part B — NEW AIRCRAFT AND SCHEDULED DELIVERY MONTHS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Expected	 	 	Expected	 	 	 	 
	 	 	Registration	 	 	Manufacturer’s	 	 	Scheduled Delivery	 
	Aircraft Type	 	Number	 	 	Serial Number	 	 	Month	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 

Note Purchase Agreement 10-1

 

 

SCHEDULE II to

Note Purchase Agreement

TRUST SUPPLEMENTS

Trust Supplement dated as of the Issuance Date between the Company and the Pass Through Trustee in
respect of US Airways Pass Through Trust, Series 2011-1A-O.

Trust Supplement dated as of the Issuance Date between the Company and the Pass Through Trustee in
respect of US Airways Pass Through Trust, Series 2011-1B-O.

Trust Supplement dated as of the Issuance Date between the Company and the Pass Through Trustee in
respect of US Airways Pass Through Trust, Series 2011-1C-O.

Note Purchase Agreement 07-1

2

 

SCHEDULE III to

Note Purchase Agreement

REQUIRED TERMS

Note Purchase Agreement 10-1

 

 

SCHEDULE III TO

Note Purchase Agreement

REQUIRED TERMS

Equipment Notes

          Obligor:          US Airways

          Maximum Principal Amount:

          The initial principal amount and amortization schedule of the Series A, B and C Equipment
Notes issued with respect to an Aircraft shall be as set forth in the following table for that
Aircraft:

Airbus A321-231

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	N543UW
	 	 	Equipment Note Ending Balance	 	Scheduled Payments of Principal
	 	 	Series A	 	Series B	 	Series C	 	Series A	 	Series B	 	Series C
	 	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment
	Date	 	Note	 	Note	 	Note	 	Note	 	Note	 	Note
	At Issuance
	 	$	29,002,000.00	 	 	$	9,302,000.00	 	 	$	8,208,000.00	 	 	$	0.00	 	 	$	0.00	 	 	$	0.00	 
	October 22, 2011
	 	 	29,002,000.00	 	 	 	9,302,000.00	 	 	 	8,208,000.00	 	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2012
	 	 	29,002,000.00	 	 	 	9,302,000.00	 	 	 	8,208,000.00	 	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2012
	 	 	27,513,000.00	 	 	 	8,836,000.00	 	 	 	6,772,000.00	 	 	 	1,489,000.00	 	 	 	466,000.00	 	 	 	1,436,000.00	 
	April 22, 2013
	 	 	26,565,328.80	 	 	 	8,542,576.32	 	 	 	5,521,421.28	 	 	 	947,671.20	 	 	 	293,423.68	 	 	 	1,250,578.72	 
	October 22, 2013
	 	 	25,634,040.00	 	 	 	8,254,160.88	 	 	 	4,306,518.72	 	 	 	931,288.80	 	 	 	288,415.44	 	 	 	1,214,902.56	 
	April 22, 2014
	 	 	24,719,167.20	 	 	 	7,970,670.24	 	 	 	3,127,731.36	 	 	 	914,872.80	 	 	 	283,490.64	 	 	 	1,178,787.36	 
	October 22, 2014
	 	 	23,820,710.40	 	 	 	7,692,104.40	 	 	 	0.00	 	 	 	898,456.80	 	 	 	278,565.84	 	 	 	3,127,731.36	 
	April 22, 2015
	 	 	22,938,669.60	 	 	 	7,320,852.00	 	 	 	0.00	 	 	 	882,040.80	 	 	 	371,252.40	 	 	 	0.00	 
	October 22, 2015
	 	 	22,073,044.80	 	 	 	6,957,807.60	 	 	 	0.00	 	 	 	865,624.80	 	 	 	363,044.40	 	 	 	0.00	 
	April 22, 2016
	 	 	21,223,836.00	 	 	 	6,602,971.20	 	 	 	0.00	 	 	 	849,208.80	 	 	 	354,836.40	 	 	 	0.00	 
	October 22, 2016
	 	 	20,391,043.20	 	 	 	6,256,342.80	 	 	 	0.00	 	 	 	832,792.80	 	 	 	346,628.40	 	 	 	0.00	 
	April 22, 2017
	 	 	19,347,054.00	 	 	 	6,145,534.80	 	 	 	0.00	 	 	 	1,043,989.20	 	 	 	110,808.00	 	 	 	0.00	 
	October 22, 2017
	 	 	18,327,688.80	 	 	 	6,034,726.80	 	 	 	0.00	 	 	 	1,019,365.20	 	 	 	110,808.00	 	 	 	0.00	 
	April 22, 2018
	 	 	17,332,947.60	 	 	 	5,923,918.80	 	 	 	0.00	 	 	 	994,741.20	 	 	 	110,808.00	 	 	 	0.00	 
	October 22, 2018
	 	 	16,362,830.40	 	 	 	0.00	 	 	 	0.00	 	 	 	970,117.20	 	 	 	5,923,918.80	 	 	 	0.00	 
	April 22, 2019
	 	 	15,417,337.20	 	 	 	0.00	 	 	 	0.00	 	 	 	945,493.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2019
	 	 	14,496,468.00	 	 	 	0.00	 	 	 	0.00	 	 	 	920,869.20	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2020
	 	 	13,600,222.80	 	 	 	0.00	 	 	 	0.00	 	 	 	896,245.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2020
	 	 	12,728,601.60	 	 	 	0.00	 	 	 	0.00	 	 	 	871,621.20	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2021
	 	 	11,881,604.40	 	 	 	0.00	 	 	 	0.00	 	 	 	846,997.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2021
	 	 	11,059,231.20	 	 	 	0.00	 	 	 	0.00	 	 	 	822,373.20	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2022
	 	 	10,261,482.00	 	 	 	0.00	 	 	 	0.00	 	 	 	797,749.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2022
	 	 	9,488,356.80	 	 	 	0.00	 	 	 	0.00	 	 	 	773,125.20	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2023
	 	 	8,739,855.60	 	 	 	0.00	 	 	 	0.00	 	 	 	748,501.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2023
	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 	 	 	8,739,855.60	 	 	 	0.00	 	 	 	0.00	 

Note Purchase Agreement 10-1

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	N544UW
	 	 	Equipment Note Ending Balance	 	Scheduled Payments of Principal
	 	 	Series A	 	Series B	 	Series C	 	Series A	 	Series B	 	Series C
	 	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment
	Date	 	Note	 	Note	 	Note	 	Note	 	Note	 	Note
	At Issuance
	 	$	29,002,000.00	 	 	$	9,302,000.00	 	 	$	8,208,000.00	 	 	$	0.00	 	 	$	0.00	 	 	$	0.00	 
	October 22, 2011
	 	 	29,002,000.00	 	 	 	9,302,000.00	 	 	 	8,208,000.00	 	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2012
	 	 	29,002,000.00	 	 	 	9,302,000.00	 	 	 	8,208,000.00	 	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2012
	 	 	27,513,000.00	 	 	 	8,836,000.00	 	 	 	6,772,000.00	 	 	 	1,489,000.00	 	 	 	466,000.00	 	 	 	1,436,000.00	 
	April 22, 2013
	 	 	26,565,328.80	 	 	 	8,542,576.32	 	 	 	5,521,421.28	 	 	 	947,671.20	 	 	 	293,423.68	 	 	 	1,250,578.72	 
	October 22, 2013
	 	 	25,634,040.00	 	 	 	8,254,160.88	 	 	 	4,306,518.72	 	 	 	931,288.80	 	 	 	288,415.44	 	 	 	1,214,902.56	 
	April 22, 2014
	 	 	24,719,167.20	 	 	 	7,970,670.24	 	 	 	3,127,731.36	 	 	 	914,872.80	 	 	 	283,490.64	 	 	 	1,178,787.36	 
	October 22, 2014
	 	 	23,820,710.40	 	 	 	7,692,104.40	 	 	 	0.00	 	 	 	898,456.80	 	 	 	278,565.84	 	 	 	3,127,731.36	 
	April 22, 2015
	 	 	22,938,669.60	 	 	 	7,320,852.00	 	 	 	0.00	 	 	 	882,040.80	 	 	 	371,252.40	 	 	 	0.00	 
	October 22, 2015
	 	 	22,073,044.80	 	 	 	6,957,807.60	 	 	 	0.00	 	 	 	865,624.80	 	 	 	363,044.40	 	 	 	0.00	 
	April 22, 2016
	 	 	21,223,836.00	 	 	 	6,602,971.20	 	 	 	0.00	 	 	 	849,208.80	 	 	 	354,836.40	 	 	 	0.00	 
	October 22, 2016
	 	 	20,391,043.20	 	 	 	6,256,342.80	 	 	 	0.00	 	 	 	832,792.80	 	 	 	346,628.40	 	 	 	0.00	 
	April 22, 2017
	 	 	19,347,054.00	 	 	 	6,145,534.80	 	 	 	0.00	 	 	 	1,043,989.20	 	 	 	110,808.00	 	 	 	0.00	 
	October 22, 2017
	 	 	18,327,688.80	 	 	 	6,034,726.80	 	 	 	0.00	 	 	 	1,019,365.20	 	 	 	110,808.00	 	 	 	0.00	 
	April 22, 2018
	 	 	17,332,947.60	 	 	 	5,923,918.80	 	 	 	0.00	 	 	 	994,741.20	 	 	 	110,808.00	 	 	 	0.00	 
	October 22, 2018
	 	 	16,362,830.40	 	 	 	0.00	 	 	 	0.00	 	 	 	970,117.20	 	 	 	5,923,918.80	 	 	 	0.00	 
	April 22, 2019
	 	 	15,417,337.20	 	 	 	0.00	 	 	 	0.00	 	 	 	945,493.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2019
	 	 	14,496,468.00	 	 	 	0.00	 	 	 	0.00	 	 	 	920,869.20	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2020
	 	 	13,600,222.80	 	 	 	0.00	 	 	 	0.00	 	 	 	896,245.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2020
	 	 	12,728,601.60	 	 	 	0.00	 	 	 	0.00	 	 	 	871,621.20	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2021
	 	 	11,881,604.40	 	 	 	0.00	 	 	 	0.00	 	 	 	846,997.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2021
	 	 	11,059,231.20	 	 	 	0.00	 	 	 	0.00	 	 	 	822,373.20	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2022
	 	 	10,261,482.00	 	 	 	0.00	 	 	 	0.00	 	 	 	797,749.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2022
	 	 	9,488,356.80	 	 	 	0.00	 	 	 	0.00	 	 	 	773,125.20	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2023
	 	 	8,739,855.60	 	 	 	0.00	 	 	 	0.00	 	 	 	748,501.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2023
	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 	 	 	8,739,855.60	 	 	 	0.00	 	 	 	0.00	 

Note Purchase Agreement 07-1

2

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	N545UW
	 	 	Equipment Note Ending Balance	 	Scheduled Payments of Principal
	 	 	Series A	 	Series B	 	Series C	 	Series A	 	Series B	 	Series C
	 	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment
	Date	 	Note	 	Note	 	Note	 	Note	 	Note	 	Note
	At Issuance
	 	$	29,002,000.00	 	 	$	9,302,000.00	 	 	$	8,208,000.00	 	 	$	0.00	 	 	$	0.00	 	 	$	0.00	 
	October 22, 2011
	 	 	29,002,000.00	 	 	 	9,302,000.00	 	 	 	8,208,000.00	 	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2012
	 	 	29,002,000.00	 	 	 	9,302,000.00	 	 	 	8,208,000.00	 	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2012
	 	 	27,513,000.00	 	 	 	8,836,000.00	 	 	 	6,772,000.00	 	 	 	1,489,000.00	 	 	 	466,000.00	 	 	 	1,436,000.00	 
	April 22, 2013
	 	 	26,565,328.80	 	 	 	8,542,576.32	 	 	 	5,521,421.28	 	 	 	947,671.20	 	 	 	293,423.68	 	 	 	1,250,578.72	 
	October 22, 2013
	 	 	25,634,040.00	 	 	 	8,254,160.88	 	 	 	4,306,518.72	 	 	 	931,288.80	 	 	 	288,415.44	 	 	 	1,214,902.56	 
	April 22, 2014
	 	 	24,719,167.20	 	 	 	7,970,670.24	 	 	 	3,127,731.36	 	 	 	914,872.80	 	 	 	283,490.64	 	 	 	1,178,787.36	 
	October 22, 2014
	 	 	23,820,710.40	 	 	 	7,692,104.40	 	 	 	0.00	 	 	 	898,456.80	 	 	 	278,565.84	 	 	 	3,127,731.36	 
	April 22, 2015
	 	 	22,938,669.60	 	 	 	7,320,852.00	 	 	 	0.00	 	 	 	882,040.80	 	 	 	371,252.40	 	 	 	0.00	 
	October 22, 2015
	 	 	22,073,044.80	 	 	 	6,957,807.60	 	 	 	0.00	 	 	 	865,624.80	 	 	 	363,044.40	 	 	 	0.00	 
	April 22, 2016
	 	 	21,223,836.00	 	 	 	6,602,971.20	 	 	 	0.00	 	 	 	849,208.80	 	 	 	354,836.40	 	 	 	0.00	 
	October 22, 2016
	 	 	20,391,043.20	 	 	 	6,256,342.80	 	 	 	0.00	 	 	 	832,792.80	 	 	 	346,628.40	 	 	 	0.00	 
	April 22, 2017
	 	 	19,347,054.00	 	 	 	6,145,534.80	 	 	 	0.00	 	 	 	1,043,989.20	 	 	 	110,808.00	 	 	 	0.00	 
	October 22, 2017
	 	 	18,327,688.80	 	 	 	6,034,726.80	 	 	 	0.00	 	 	 	1,019,365.20	 	 	 	110,808.00	 	 	 	0.00	 
	April 22, 2018
	 	 	17,332,947.60	 	 	 	5,923,918.80	 	 	 	0.00	 	 	 	994,741.20	 	 	 	110,808.00	 	 	 	0.00	 
	October 22, 2018
	 	 	16,362,830.40	 	 	 	0.00	 	 	 	0.00	 	 	 	970,117.20	 	 	 	5,923,918.80	 	 	 	0.00	 
	April 22, 2019
	 	 	15,417,337.20	 	 	 	0.00	 	 	 	0.00	 	 	 	945,493.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2019
	 	 	14,496,468.00	 	 	 	0.00	 	 	 	0.00	 	 	 	920,869.20	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2020
	 	 	13,600,222.80	 	 	 	0.00	 	 	 	0.00	 	 	 	896,245.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2020
	 	 	12,728,601.60	 	 	 	0.00	 	 	 	0.00	 	 	 	871,621.20	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2021
	 	 	11,881,604.40	 	 	 	0.00	 	 	 	0.00	 	 	 	846,997.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2021
	 	 	11,059,231.20	 	 	 	0.00	 	 	 	0.00	 	 	 	822,373.20	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2022
	 	 	10,261,482.00	 	 	 	0.00	 	 	 	0.00	 	 	 	797,749.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2022
	 	 	9,488,356.80	 	 	 	0.00	 	 	 	0.00	 	 	 	773,125.20	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2023
	 	 	8,739,855.60	 	 	 	0.00	 	 	 	0.00	 	 	 	748,501.20	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2023
	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 	 	 	8,739,855.60	 	 	 	0.00	 	 	 	0.00	 

Note Purchase Agreement 07-1

3

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	N546UW
	 	 	Equipment Note Ending Balance	 	Scheduled Payments of Principal
	 	 	Series A	 	Series B	 	Series C	 	Series A	 	Series B	 	Series C
	 	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment
	Date	 	Note	 	Note	 	Note	 	Note	 	Note	 	Note
	At Issuance
	 	$	29,049,000.00	 	 	$	9,318,000.00	 	 	$	8,222,000.00	 	 	$	0.00	 	 	$	0.00	 	 	$	0.00	 
	October 22, 2011
	 	 	29,049,000.00	 	 	 	9,318,000.00	 	 	 	8,222,000.00	 	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2012
	 	 	29,049,000.00	 	 	 	9,318,000.00	 	 	 	8,222,000.00	 	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2012
	 	 	27,630,000.00	 	 	 	8,873,000.00	 	 	 	6,801,000.00	 	 	 	1,419,000.00	 	 	 	445,000.00	 	 	 	1,421,000.00	 
	April 22, 2013
	 	 	26,678,904.53	 	 	 	8,579,098.71	 	 	 	5,545,027.21	 	 	 	951,095.47	 	 	 	293,901.29	 	 	 	1,255,972.79	 
	October 22, 2013
	 	 	25,744,713.75	 	 	 	8,289,797.83	 	 	 	4,325,111.91	 	 	 	934,190.78	 	 	 	289,300.88	 	 	 	1,219,915.30	 
	April 22, 2014
	 	 	24,826,965.98	 	 	 	8,005,429.84	 	 	 	3,141,371.20	 	 	 	917,747.77	 	 	 	284,367.99	 	 	 	1,183,740.71	 
	October 22, 2014
	 	 	23,925,661.20	 	 	 	7,725,994.76	 	 	 	0.00	 	 	 	901,304.78	 	 	 	279,435.08	 	 	 	3,141,371.20	 
	April 22, 2015
	 	 	23,040,799.43	 	 	 	7,353,446.62	 	 	 	0.00	 	 	 	884,861.77	 	 	 	372,548.14	 	 	 	0.00	 
	October 22, 2015
	 	 	22,172,380.65	 	 	 	6,989,119.99	 	 	 	0.00	 	 	 	868,418.78	 	 	 	364,326.63	 	 	 	0.00	 
	April 22, 2016
	 	 	21,320,404.88	 	 	 	6,633,014.85	 	 	 	0.00	 	 	 	851,975.77	 	 	 	356,105.14	 	 	 	0.00	 
	October 22, 2016
	 	 	20,484,872.10	 	 	 	6,285,131.21	 	 	 	0.00	 	 	 	835,532.78	 	 	 	347,883.64	 	 	 	0.00	 
	April 22, 2017
	 	 	19,437,110.44	 	 	 	6,174,140.96	 	 	 	0.00	 	 	 	1,047,761.66	 	 	 	110,990.25	 	 	 	0.00	 
	October 22, 2017
	 	 	18,414,013.28	 	 	 	6,063,150.71	 	 	 	0.00	 	 	 	1,023,097.16	 	 	 	110,990.25	 	 	 	0.00	 
	April 22, 2018
	 	 	17,415,580.61	 	 	 	5,952,160.46	 	 	 	0.00	 	 	 	998,432.67	 	 	 	110,990.25	 	 	 	0.00	 
	October 22, 2018
	 	 	16,441,812.45	 	 	 	0.00	 	 	 	0.00	 	 	 	973,768.16	 	 	 	5,952,160.46	 	 	 	0.00	 
	April 22, 2019
	 	 	15,492,708.79	 	 	 	0.00	 	 	 	0.00	 	 	 	949,103.66	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2019
	 	 	14,568,269.63	 	 	 	0.00	 	 	 	0.00	 	 	 	924,439.16	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2020
	 	 	13,668,494.96	 	 	 	0.00	 	 	 	0.00	 	 	 	899,774.67	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2020
	 	 	12,793,384.80	 	 	 	0.00	 	 	 	0.00	 	 	 	875,110.16	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2021
	 	 	11,942,939.14	 	 	 	0.00	 	 	 	0.00	 	 	 	850,445.66	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2021
	 	 	11,117,157.98	 	 	 	0.00	 	 	 	0.00	 	 	 	825,781.16	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2022
	 	 	10,316,041.31	 	 	 	0.00	 	 	 	0.00	 	 	 	801,116.67	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2022
	 	 	9,539,589.15	 	 	 	0.00	 	 	 	0.00	 	 	 	776,452.16	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2023
	 	 	8,787,801.49	 	 	 	0.00	 	 	 	0.00	 	 	 	751,787.66	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2023
	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 	 	 	8,787,801.49	 	 	 	0.00	 	 	 	0.00	 

Note Purchase Agreement 07-1

4

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	N534UW
	 	 	Equipment Note Ending Balance	 	Scheduled Payments of Principal
	 	 	Series A	 	Series B	 	Series C	 	Series A	 	Series B	 	Series C
	 	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment
	Date	 	Note	 	Note	 	Note	 	Note	 	Note	 	Note
	At Issuance
	 	$	25,233,000.00	 	 	$	8,094,000.00	 	 	$	7,142,000.00	 	 	$	0.00	 	 	$	0.00	 	 	$	0.00	 
	October 22, 2011
	 	 	25,233,000.00	 	 	 	8,094,000.00	 	 	 	7,142,000.00	 	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2012
	 	 	24,554,000.00	 	 	 	7,875,000.00	 	 	 	6,949,000.00	 	 	 	679,000.00	 	 	 	219,000.00	 	 	 	193,000.00	 
	October 22, 2012
	 	 	23,696,770.61	 	 	 	7,610,309.02	 	 	 	5,833,051.23	 	 	 	857,229.39	 	 	 	264,690.98	 	 	 	1,115,948.77	 
	April 22, 2013
	 	 	22,855,070.55	 	 	 	7,349,473.66	 	 	 	4,750,269.57	 	 	 	841,700.06	 	 	 	260,835.36	 	 	 	1,082,781.66	 
	October 22, 2013
	 	 	22,028,507.47	 	 	 	7,093,179.40	 	 	 	3,700,789.25	 	 	 	826,563.08	 	 	 	256,294.26	 	 	 	1,049,480.32	 
	April 22, 2014
	 	 	21,217,081.35	 	 	 	6,841,426.24	 	 	 	2,684,610.29	 	 	 	811,426.12	 	 	 	251,753.16	 	 	 	1,016,178.96	 
	October 22, 2014
	 	 	20,420,792.23	 	 	 	6,594,214.15	 	 	 	0.00	 	 	 	796,289.12	 	 	 	247,212.09	 	 	 	2,684,610.29	 
	April 22, 2015
	 	 	19,639,640.08	 	 	 	6,267,970.24	 	 	 	0.00	 	 	 	781,152.15	 	 	 	326,243.91	 	 	 	0.00	 
	October 22, 2015
	 	 	18,873,624.91	 	 	 	5,949,294.80	 	 	 	0.00	 	 	 	766,015.17	 	 	 	318,675.44	 	 	 	0.00	 
	April 22, 2016
	 	 	18,122,746.71	 	 	 	5,638,187.87	 	 	 	0.00	 	 	 	750,878.20	 	 	 	311,106.93	 	 	 	0.00	 
	October 22, 2016
	 	 	17,387,005.50	 	 	 	5,334,649.41	 	 	 	0.00	 	 	 	735,741.21	 	 	 	303,538.46	 	 	 	0.00	 
	April 22, 2017
	 	 	16,472,605.89	 	 	 	5,232,474.81	 	 	 	0.00	 	 	 	914,399.61	 	 	 	102,174.60	 	 	 	0.00	 
	October 22, 2017
	 	 	15,580,911.75	 	 	 	5,130,300.22	 	 	 	0.00	 	 	 	891,694.14	 	 	 	102,174.59	 	 	 	0.00	 
	April 22, 2018
	 	 	14,711,923.09	 	 	 	5,028,125.61	 	 	 	0.00	 	 	 	868,988.66	 	 	 	102,174.61	 	 	 	0.00	 
	October 22, 2018
	 	 	13,865,639.88	 	 	 	0.00	 	 	 	0.00	 	 	 	846,283.21	 	 	 	5,028,125.61	 	 	 	0.00	 
	April 22, 2019
	 	 	13,042,062.15	 	 	 	0.00	 	 	 	0.00	 	 	 	823,577.73	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2019
	 	 	12,241,189.88	 	 	 	0.00	 	 	 	0.00	 	 	 	800,872.27	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2020
	 	 	11,463,023.08	 	 	 	0.00	 	 	 	0.00	 	 	 	778,166.80	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2020
	 	 	10,707,561.74	 	 	 	0.00	 	 	 	0.00	 	 	 	755,461.34	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2021
	 	 	9,974,805.87	 	 	 	0.00	 	 	 	0.00	 	 	 	732,755.87	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2021
	 	 	9,264,755.47	 	 	 	0.00	 	 	 	0.00	 	 	 	710,050.40	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2022
	 	 	8,577,410.54	 	 	 	0.00	 	 	 	0.00	 	 	 	687,344.93	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2022
	 	 	7,912,771.07	 	 	 	0.00	 	 	 	0.00	 	 	 	664,639.47	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2023
	 	 	7,270,837.07	 	 	 	0.00	 	 	 	0.00	 	 	 	641,934.00	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2023
	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 	 	 	7,270,837.07	 	 	 	0.00	 	 	 	0.00	 

Note Purchase Agreement 07-1

5

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	N536UW
	 	 	Equipment Note Ending Balance	 	Scheduled Payments of Principal
	 	 	Series A	 	Series B	 	Series C	 	Series A	 	Series B	 	Series C
	 	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment
	Date	 	Note	 	Note	 	Note	 	Note	 	Note	 	Note
	At Issuance
	 	$	25,604,000.00	 	 	$	8,213,000.00	 	 	$	7,247,000.00	 	 	$	0.00	 	 	$	0.00	 	 	$	0.00	 
	October 22, 2011
	 	 	25,604,000.00	 	 	 	8,213,000.00	 	 	 	7,247,000.00	 	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2012
	 	 	24,919,000.00	 	 	 	7,993,000.00	 	 	 	7,052,000.00	 	 	 	685,000.00	 	 	 	220,000.00	 	 	 	195,000.00	 
	October 22, 2012
	 	 	24,051,602.78	 	 	 	7,724,264.73	 	 	 	5,920,394.53	 	 	 	867,397.22	 	 	 	268,735.27	 	 	 	1,131,605.47	 
	April 22, 2013
	 	 	23,199,741.96	 	 	 	7,460,309.17	 	 	 	4,821,907.16	 	 	 	851,860.82	 	 	 	263,955.56	 	 	 	1,098,487.37	 
	October 22, 2013
	 	 	22,363,148.98	 	 	 	7,200,933.96	 	 	 	3,757,009.03	 	 	 	836,592.98	 	 	 	259,375.21	 	 	 	1,064,898.13	 
	April 22, 2014
	 	 	21,541,823.84	 	 	 	6,946,139.12	 	 	 	2,725,700.16	 	 	 	821,325.14	 	 	 	254,794.84	 	 	 	1,031,308.87	 
	October 22, 2014
	 	 	20,735,766.55	 	 	 	6,695,924.62	 	 	 	0.00	 	 	 	806,057.29	 	 	 	250,214.50	 	 	 	2,725,700.16	 
	April 22, 2015
	 	 	19,944,977.11	 	 	 	6,365,418.22	 	 	 	0.00	 	 	 	790,789.44	 	 	 	330,506.40	 	 	 	0.00	 
	October 22, 2015
	 	 	19,169,455.50	 	 	 	6,042,545.76	 	 	 	0.00	 	 	 	775,521.61	 	 	 	322,872.46	 	 	 	0.00	 
	April 22, 2016
	 	 	18,409,201.74	 	 	 	5,727,307.21	 	 	 	0.00	 	 	 	760,253.76	 	 	 	315,238.55	 	 	 	0.00	 
	October 22, 2016
	 	 	17,664,215.82	 	 	 	5,419,702.58	 	 	 	0.00	 	 	 	744,985.92	 	 	 	307,604.63	 	 	 	0.00	 
	April 22, 2017
	 	 	16,737,584.98	 	 	 	5,316,644.64	 	 	 	0.00	 	 	 	926,630.84	 	 	 	103,057.94	 	 	 	0.00	 
	October 22, 2017
	 	 	15,833,855.90	 	 	 	5,213,586.70	 	 	 	0.00	 	 	 	903,729.08	 	 	 	103,057.94	 	 	 	0.00	 
	April 22, 2018
	 	 	14,953,028.59	 	 	 	5,110,528.76	 	 	 	0.00	 	 	 	880,827.31	 	 	 	103,057.94	 	 	 	0.00	 
	October 22, 2018
	 	 	14,095,103.05	 	 	 	0.00	 	 	 	0.00	 	 	 	857,925.54	 	 	 	5,110,528.76	 	 	 	0.00	 
	April 22, 2019
	 	 	13,260,079.27	 	 	 	0.00	 	 	 	0.00	 	 	 	835,023.78	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2019
	 	 	12,447,957.25	 	 	 	0.00	 	 	 	0.00	 	 	 	812,122.02	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2020
	 	 	11,658,736.99	 	 	 	0.00	 	 	 	0.00	 	 	 	789,220.26	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2020
	 	 	10,892,418.51	 	 	 	0.00	 	 	 	0.00	 	 	 	766,318.48	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2021
	 	 	10,149,001.78	 	 	 	0.00	 	 	 	0.00	 	 	 	743,416.73	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2021
	 	 	9,428,486.82	 	 	 	0.00	 	 	 	0.00	 	 	 	720,514.96	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2022
	 	 	8,730,873.63	 	 	 	0.00	 	 	 	0.00	 	 	 	697,613.19	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2022
	 	 	8,056,162.20	 	 	 	0.00	 	 	 	0.00	 	 	 	674,711.43	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2023
	 	 	7,404,352.53	 	 	 	0.00	 	 	 	0.00	 	 	 	651,809.67	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2023
	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 	 	 	7,404,352.53	 	 	 	0.00	 	 	 	0.00	 

Note Purchase Agreement 07-1

6

 

Airbus A330-243

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	N284AY
	 	 	Equipment Note Ending Balance	 	Scheduled Payments of Principal
	 	 	Series A	 	Series B	 	Series C	 	Series A	 	Series B	 	Series C
	 	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment
	Date	 	Note	 	Note	 	Note	 	Note	 	Note	 	Note
	At Issuance
	 	$	51,905,000.00	 	 	$	16,648,000.00	 	 	$	14,690,000.00	 	 	$	0.00	 	 	$	0.00	 	 	$	0.00	 
	October 22, 2011
	 	 	51,905,000.00	 	 	 	16,648,000.00	 	 	 	14,690,000.00	 	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2012
	 	 	50,535,000.00	 	 	 	16,209,000.00	 	 	 	14,302,000.00	 	 	 	1,370,000.00	 	 	 	439,000.00	 	 	 	388,000.00	 
	October 22, 2012
	 	 	48,788,205.47	 	 	 	15,668,519.84	 	 	 	12,009,404.42	 	 	 	1,746,794.53	 	 	 	540,480.16	 	 	 	2,292,595.58	 
	April 22, 2013
	 	 	47,072,062.99	 	 	 	15,136,898.69	 	 	 	9,783,605.25	 	 	 	1,716,142.48	 	 	 	531,621.15	 	 	 	2,225,799.17	 
	October 22, 2013
	 	 	45,386,426.70	 	 	 	14,614,429.39	 	 	 	7,624,919.69	 	 	 	1,685,636.29	 	 	 	522,469.30	 	 	 	2,158,685.56	 
	April 22, 2014
	 	 	43,731,296.58	 	 	 	14,101,111.96	 	 	 	5,533,347.74	 	 	 	1,655,130.12	 	 	 	513,317.43	 	 	 	2,091,571.95	 
	October 22, 2014
	 	 	42,106,672.67	 	 	 	13,596,946.38	 	 	 	0.00	 	 	 	1,624,623.91	 	 	 	504,165.58	 	 	 	5,533,347.74	 
	April 22, 2015
	 	 	40,512,554.93	 	 	 	12,929,538.81	 	 	 	0.00	 	 	 	1,594,117.74	 	 	 	667,407.57	 	 	 	0.00	 
	October 22, 2015
	 	 	38,948,943.38	 	 	 	12,277,384.33	 	 	 	0.00	 	 	 	1,563,611.55	 	 	 	652,154.48	 	 	 	0.00	 
	April 22, 2016
	 	 	37,415,838.02	 	 	 	11,640,482.94	 	 	 	0.00	 	 	 	1,533,105.36	 	 	 	636,901.39	 	 	 	0.00	 
	October 22, 2016
	 	 	35,913,238.84	 	 	 	11,018,834.65	 	 	 	0.00	 	 	 	1,502,599.18	 	 	 	621,648.29	 	 	 	0.00	 
	April 22, 2017
	 	 	34,040,667.42	 	 	 	10,812,917.88	 	 	 	0.00	 	 	 	1,872,571.42	 	 	 	205,916.77	 	 	 	0.00	 
	October 22, 2017
	 	 	32,213,855.27	 	 	 	10,607,001.12	 	 	 	0.00	 	 	 	1,826,812.15	 	 	 	205,916.76	 	 	 	0.00	 
	April 22, 2018
	 	 	30,432,802.40	 	 	 	10,401,084.36	 	 	 	0.00	 	 	 	1,781,052.87	 	 	 	205,916.76	 	 	 	0.00	 
	October 22, 2018
	 	 	28,697,508.81	 	 	 	0.00	 	 	 	0.00	 	 	 	1,735,293.59	 	 	 	10,401,084.36	 	 	 	0.00	 
	April 22, 2019
	 	 	27,007,974.50	 	 	 	0.00	 	 	 	0.00	 	 	 	1,689,534.31	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2019
	 	 	25,364,199.47	 	 	 	0.00	 	 	 	0.00	 	 	 	1,643,775.03	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2020
	 	 	23,766,183.73	 	 	 	0.00	 	 	 	0.00	 	 	 	1,598,015.74	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2020
	 	 	22,213,927.26	 	 	 	0.00	 	 	 	0.00	 	 	 	1,552,256.47	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2021
	 	 	20,707,430.07	 	 	 	0.00	 	 	 	0.00	 	 	 	1,506,497.19	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2021
	 	 	19,246,692.16	 	 	 	0.00	 	 	 	0.00	 	 	 	1,460,737.91	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2022
	 	 	17,831,713.53	 	 	 	0.00	 	 	 	0.00	 	 	 	1,414,978.63	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2022
	 	 	16,462,494.19	 	 	 	0.00	 	 	 	0.00	 	 	 	1,369,219.34	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2023
	 	 	15,139,034.12	 	 	 	0.00	 	 	 	0.00	 	 	 	1,323,460.07	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2023
	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 	 	 	15,139,034.12	 	 	 	0.00	 	 	 	0.00	 

 Note Purchase Agreement 07-1

7

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	N285AY
	 	 	Equipment Note Ending Balance	 	Scheduled Payments of Principal
	 	 	Series A	 	Series B	 	Series C	 	Series A	 	Series B	 	Series C
	 	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment
	Date	 	Note	 	Note	 	Note	 	Note	 	Note	 	Note
	At Issuance
	 	$	51,864,000.00	 	 	$	16,636,000.00	 	 	$	14,678,000.00	 	 	$	0.00	 	 	$	0.00	 	 	$	0.00	 
	October 22, 2011
	 	 	51,864,000.00	 	 	 	16,636,000.00	 	 	 	14,678,000.00	 	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2012
	 	 	50,495,000.00	 	 	 	16,197,000.00	 	 	 	14,291,000.00	 	 	 	1,369,000.00	 	 	 	439,000.00	 	 	 	387,000.00	 
	October 22, 2012
	 	 	48,749,827.06	 	 	 	15,656,194.46	 	 	 	11,999,957.43	 	 	 	1,745,172.94	 	 	 	540,805.54	 	 	 	2,291,042.57	 
	April 22, 2013
	 	 	47,034,964.34	 	 	 	15,124,968.93	 	 	 	9,775,894.55	 	 	 	1,714,862.72	 	 	 	531,225.53	 	 	 	2,224,062.88	 
	October 22, 2013
	 	 	45,350,586.57	 	 	 	14,602,888.87	 	 	 	7,618,898.54	 	 	 	1,684,377.77	 	 	 	522,080.06	 	 	 	2,156,996.01	 
	April 22, 2014
	 	 	43,696,693.74	 	 	 	14,089,954.30	 	 	 	5,528,969.41	 	 	 	1,653,892.83	 	 	 	512,934.57	 	 	 	2,089,929.13	 
	October 22, 2014
	 	 	42,073,285.84	 	 	 	13,586,165.22	 	 	 	0.00	 	 	 	1,623,407.90	 	 	 	503,789.08	 	 	 	5,528,969.41	 
	April 22, 2015
	 	 	40,480,362.90	 	 	 	12,919,264.75	 	 	 	0.00	 	 	 	1,592,922.94	 	 	 	666,900.47	 	 	 	0.00	 
	October 22, 2015
	 	 	38,917,924.89	 	 	 	12,267,606.76	 	 	 	0.00	 	 	 	1,562,438.01	 	 	 	651,657.99	 	 	 	0.00	 
	April 22, 2016
	 	 	37,385,971.83	 	 	 	11,631,191.24	 	 	 	0.00	 	 	 	1,531,953.06	 	 	 	636,415.52	 	 	 	0.00	 
	October 22, 2016
	 	 	35,884,503.71	 	 	 	11,010,018.19	 	 	 	0.00	 	 	 	1,501,468.12	 	 	 	621,173.05	 	 	 	0.00	 
	April 22, 2017
	 	 	34,013,363.33	 	 	 	10,804,244.82	 	 	 	0.00	 	 	 	1,871,140.38	 	 	 	205,773.37	 	 	 	0.00	 
	October 22, 2017
	 	 	32,187,950.35	 	 	 	10,598,471.46	 	 	 	0.00	 	 	 	1,825,412.98	 	 	 	205,773.36	 	 	 	0.00	 
	April 22, 2018
	 	 	30,408,264.79	 	 	 	10,392,698.09	 	 	 	0.00	 	 	 	1,779,685.56	 	 	 	205,773.37	 	 	 	0.00	 
	October 22, 2018
	 	 	28,674,306.64	 	 	 	0.00	 	 	 	0.00	 	 	 	1,733,958.15	 	 	 	10,392,698.09	 	 	 	0.00	 
	April 22, 2019
	 	 	26,986,075.91	 	 	 	0.00	 	 	 	0.00	 	 	 	1,688,230.73	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2019
	 	 	25,343,572.59	 	 	 	0.00	 	 	 	0.00	 	 	 	1,642,503.32	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2020
	 	 	23,746,796.68	 	 	 	0.00	 	 	 	0.00	 	 	 	1,596,775.91	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2020
	 	 	22,195,748.20	 	 	 	0.00	 	 	 	0.00	 	 	 	1,551,048.48	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2021
	 	 	20,690,427.12	 	 	 	0.00	 	 	 	0.00	 	 	 	1,505,321.08	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2021
	 	 	19,230,833.46	 	 	 	0.00	 	 	 	0.00	 	 	 	1,459,593.66	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2022
	 	 	17,816,967.21	 	 	 	0.00	 	 	 	0.00	 	 	 	1,413,866.25	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2022
	 	 	16,448,828.38	 	 	 	0.00	 	 	 	0.00	 	 	 	1,368,138.83	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2023
	 	 	15,126,416.96	 	 	 	0.00	 	 	 	0.00	 	 	 	1,322,411.42	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2023
	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 	 	 	15,126,416.96	 	 	 	0.00	 	 	 	0.00	 

 Note Purchase Agreement 07-1

8

 

Airbus A320-214

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	N126UW
	 	 	Equipment Note Ending Balance	 	Scheduled Payments of Principal
	 	 	Series A	 	Series B	 	Series C	 	Series A	 	Series B	 	Series C
	 	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment	 	Equipment
	Date	 	Note	 	Note	 	Note	 	Note	 	Note	 	Note
	At Issuance
	 	$	23,283,000.00	 	 	$	7,468,000.00	 	 	$	6,590,000.00	 	 	$	0.00	 	 	$	0.00	 	 	$	0.00	 
	October 22, 2011
	 	 	23,283,000.00	 	 	 	7,468,000.00	 	 	 	6,590,000.00	 	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2012
	 	 	22,664,000.00	 	 	 	7,269,000.00	 	 	 	6,414,000.00	 	 	 	619,000.00	 	 	 	199,000.00	 	 	 	176,000.00	 
	October 22, 2012
	 	 	21,877,254.95	 	 	 	7,025,964.57	 	 	 	5,385,170.45	 	 	 	786,745.05	 	 	 	243,035.43	 	 	 	1,028,829.55	 
	April 22, 2013
	 	 	21,104,791.98	 	 	 	6,786,638.98	 	 	 	4,386,486.18	 	 	 	772,462.97	 	 	 	239,325.59	 	 	 	998,684.27	 
	October 22, 2013
	 	 	20,346,122.99	 	 	 	6,551,451.60	 	 	 	3,418,148.66	 	 	 	758,668.99	 	 	 	235,187.38	 	 	 	968,337.52	 
	April 22, 2014
	 	 	19,601,247.97	 	 	 	6,320,402.41	 	 	 	2,480,157.90	 	 	 	744,875.02	 	 	 	231,049.19	 	 	 	937,990.76	 
	October 22, 2014
	 	 	18,870,166.94	 	 	 	6,093,491.41	 	 	 	0.00	 	 	 	731,081.03	 	 	 	226,911.00	 	 	 	2,480,157.90	 
	April 22, 2015
	 	 	18,152,879.89	 	 	 	5,793,472.31	 	 	 	0.00	 	 	 	717,287.05	 	 	 	300,019.10	 	 	 	0.00	 
	October 22, 2015
	 	 	17,449,386.83	 	 	 	5,500,350.20	 	 	 	0.00	 	 	 	703,493.06	 	 	 	293,122.11	 	 	 	0.00	 
	April 22, 2016
	 	 	16,759,687.75	 	 	 	5,214,125.07	 	 	 	0.00	 	 	 	689,699.08	 	 	 	286,225.13	 	 	 	0.00	 
	October 22, 2016
	 	 	16,083,782.64	 	 	 	4,934,796.95	 	 	 	0.00	 	 	 	675,905.11	 	 	 	279,328.12	 	 	 	0.00	 
	April 22, 2017
	 	 	15,242,349.76	 	 	 	4,841,687.57	 	 	 	0.00	 	 	 	841,432.88	 	 	 	93,109.38	 	 	 	0.00	 
	October 22, 2017
	 	 	14,421,607.85	 	 	 	4,748,578.19	 	 	 	0.00	 	 	 	820,741.91	 	 	 	93,109.38	 	 	 	0.00	 
	April 22, 2018
	 	 	13,621,556.91	 	 	 	4,655,468.82	 	 	 	0.00	 	 	 	800,050.94	 	 	 	93,109.37	 	 	 	0.00	 
	October 22, 2018
	 	 	12,842,196.95	 	 	 	0.00	 	 	 	0.00	 	 	 	779,359.96	 	 	 	4,655,468.82	 	 	 	0.00	 
	April 22, 2019
	 	 	12,083,527.95	 	 	 	0.00	 	 	 	0.00	 	 	 	758,669.00	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2019
	 	 	11,345,549.94	 	 	 	0.00	 	 	 	0.00	 	 	 	737,978.01	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2020
	 	 	10,628,262.89	 	 	 	0.00	 	 	 	0.00	 	 	 	717,287.05	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2020
	 	 	9,931,666.81	 	 	 	0.00	 	 	 	0.00	 	 	 	696,596.08	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2021
	 	 	9,255,761.71	 	 	 	0.00	 	 	 	0.00	 	 	 	675,905.10	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2021
	 	 	8,600,547.58	 	 	 	0.00	 	 	 	0.00	 	 	 	655,214.13	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2022
	 	 	7,966,024.42	 	 	 	0.00	 	 	 	0.00	 	 	 	634,523.16	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2022
	 	 	7,352,192.24	 	 	 	0.00	 	 	 	0.00	 	 	 	613,832.18	 	 	 	0.00	 	 	 	0.00	 
	April 22, 2023
	 	 	6,759,051.03	 	 	 	0.00	 	 	 	0.00	 	 	 	593,141.21	 	 	 	0.00	 	 	 	0.00	 
	October 22, 2023
	 	 	0.00	 	 	 	0.00	 	 	 	0.00	 	 	 	6,759,051.03	 	 	 	0.00	 	 	 	0.00	 

Note Purchase Agreement 07-1

9

 

Trust Indenture

          Debt Rate (as such term is defined in clause (i) of the form of Trust Indenture and Security
Agreement marked as Exhibit C of the Note Purchase Agreement (the “Trust Indenture Form”)
for Series A (computed on the basis of a 360-day year consisting of twelve 30-day months, payable
semi-annually in arrears): 7.125%

          Debt Rate (as such term is defined in clause (i) of the Trust Indenture Form) for Series B
(computed on the basis of a 360-day year consisting of twelve 30 day months, payable semi-annually
in arrears): 9.750%

          Debt Rate (as such term is defined in clause (i) of the Trust Indenture Form) for Series C
(computed on the basis of a 360-day year consisting of twelve 30 day months, payable semi-annually
in arrears): 10.875%

	 	 	 

	Payment Due Rate:

	 	Debt Rate plus 2% per annum
	 
	 	 
	Payment Dates:

	 	April 22 and October 22
	 
	 	 
	Make-Whole Premiums:

	 	As provided in Article II of the Trust Indenture Form
	 
	 	 
	Redemption:

	 	As provided in Article II of the Trust Indenture Form
	 
	 	 
	All-risk hull insurance:

	 	Not less than the unpaid principal amount of the Equipment Notes relating to an Aircraft, together
with six months of interest accrued thereon, subject to US Airways’ right to self-insure on terms no
more favorable to US Airways in any material respect than those set forth in Section G of Annex B to
the Trust Indenture Form.

Participation Agreement

          Indenture Trustee, Subordination Agent, Liquidity Providers, Pass Through Trustees, Escrow
Agents and Note Holders indemnified against Expenses and Taxes to the extent set forth in Section 8
of the form of the Participation Agreement marked as Exhibit B to the Note Purchase Agreement.

          Prohibited Modifications

	1.	 	May not modify in any material adverse respect the Granting Clause of the Trust Indenture so
as to deprive the Note Holders or the Related Note Holders (as defined in the Trust Indenture)
of a first priority security interest in and mortgage lien on the Aircraft or, to the extent
assigned thereunder, US Airways’ rights under the Purchase Agreement (as defined in the Trust
Indenture) or to eliminate any of the obligations intended to be secured thereby or otherwise
modify in any material adverse respect as regards the interests of the Note Holders, the
Related Note Holder of a Related Series A Equipment Note, the Related Note Holder of a Related
Series B Equipment Note, the Related Note Holder of a Related Series C Equipment Note, the
Subordination Agent, the Liquidity Providers or the Indenture Trustee the provisions of
Article II or III or Section 4.05(c), 5.01, 5.02, 6.02, 10.01(a), 10.01(b)(vii),

Note Purchase Agreement 07-1

10

 

	 	 	11.01, 11.04, 11.11, 11.12 or 11.13 of the Trust Indenture or the definition of “Make-Whole
Amount” in Annex A to the Trust Indenture.

	2.	 	May not modify in any material adverse respect as regards the interests of the Note
Holders, the Subordination Agent, the Liquidity Providers or the Indenture Trustee the
provisions of Section 4.1.3, 4.1.8, 4.1.9, 4.1.10, 4.1.11, 6.1.3(b), 6.3, 10, 12.8(a) or
12.9 of the Participation Agreement, of the provisions of Section 4.1.2(x) of the
Participation Agreement so as to eliminate the requirement to deliver to the Loan
Participant or the Indenture Trustee, as the case may be, the legal opinions to be provided
to such Persons thereunder (recognizing that the lawyers rendering such opinions may be
changed) or of the provisions of Section 6.4.5(a)(ii) of the Participation Agreement as
regards the rights of the Indenture Trustee thereunder or otherwise modify the terms of the
Participation Agreement to deprive the Trustees, the Subordination Agent, the Liquidity
Providers or the Indenture Trustee of any indemnity or right of reimbursement in its favor
for Expenses or Taxes.

          Notwithstanding the foregoing, any form of Financing Agreement may be modified to correct or
supplement any such provision which may be defective or to cure any ambiguity or correct any
mistake, provided that any such action shall not materially adversely affect the interests
of the Note Holders, the Related Note Holder of a Related Series A Equipment Note, the Related Note
Holder of a Related Series B Equipment Note, the Related Note Holder of a Related Series C
Equipment Note, the Subordination Agent, the Liquidity Providers, the Indenture Trustee or the
Certificateholders.

Note Purchase Agreement 07-1

11

 

ANNEX A to

Note Purchase Agreement

DEFINITIONS

Note Purchase Agreement 10-1

 

 

ANNEX A to

Note Purchase Agreement

DEFINITIONS

          “Act” means 49 U.S.C. §§ 40101-46507.

          “Aircraft” has the meaning set forth in the second recital to the Note Purchase
Agreement.

          “Aircraft Purchase Agreement” means the [__], dated as of [__], as amended, between
the Company and the Manufacturer (including all exhibits thereto, together with all letter
agreements entered into that by their terms constitute part of such Purchase Agreement).

          “Applicable Pass Through Trustee” has the meaning provided in Section 1(b)(ii) of the
Note Purchase Agreement.

          “Bankruptcy Code” means the United States Bankruptcy Code, 11 U.S.C. §§ 101 et seq.

          “Basic Pass Through Trust Agreement” means the Pass Through Trust Agreement, dated
December 21, 2010, between the Company and Pass Through Trustee, as such agreement may be
supplemented, amended or modified, but does not include any Trust Supplement.

          “Business Day” means any day, other than a Saturday, Sunday or other day on which
commercial banks are authorized or required by law to close in New York, New York, Phoenix,
Arizona, Wilmington, Delaware or Salt Lake City, Utah.

          “Certificates” has the meaning set forth in the fourth recital to the Note Purchase
Agreement.

          “Certificateholder” means the Person in whose name a Certificate is registered in the
Register.

          “Class” means the class of Certificates issued by each Pass Through Trust.

          “Class A Certificates” means Certificates issued by the Class A Pass Through Trust.

          “Class B Certificates” means Certificates issued by the Class B Pass Through Trust.

          “Class C Certificates” means Certificates issued by the Class C Pass Through Trust.

          “Class A Pass Through Trustee” has the meaning set forth in the fifth recital to the
Note Purchase Agreement.

Note Purchase Agreement 10-1

 

 

          “Class B Pass Through Trustee” has the meaning set forth in the fifth recital to the
Note Purchase Agreement.

          “Class C Pass Through Trustee” has the meaning set forth in the fifth recital to the
Note Purchase Agreement.

          “Closing Notice” has the meaning set forth in Section 1(b) of the Note Purchase
Agreement.

          “Company” means US Airways, Inc., a Delaware corporation.

          “Cut-off Date” means the earlier of (a) the day after the Delivery Period Termination
Date and (b) the date on which a Triggering Event occurs.

          “Delivery Period Termination Date” means the earlier of (a) December 15, 2011 and (b)
the date on which Equipment Notes issued with respect to all of the Aircraft (including any
Substitute Aircraft in lieu of any New Aircraft) have been purchased by the Pass Through Trustees
in accordance with the Note Purchase Agreement.

          “Delivery Date” means the Business Day on which a New Aircraft is delivered to and
accepted by the Company.

          “Deposits” has the meaning set forth in the sixth recital to the Note Purchase
Agreement.

          “Deposit Agreements” has the meaning set forth in the sixth recital to the Note
Purchase Agreement.

          “Depositary” means The Bank of New York Mellon.

          “Depositary Threshold Ratings” has the meaning set forth in Section 4(a)(vi) of the
Note Purchase Agreement.

          “Equipment Notes” means and includes any equipment notes issued under any Trust
Indenture in the form specified in Section 2.01 thereof (as such form may be varied pursuant to the
terms of such Trust Indenture) and any Equipment Note issued under any Trust Indenture in exchange
for or replacement of any other Equipment Note.

          “Escrow Agent” has the meaning set forth in the first paragraph of the Note Purchase
Agreement.

          “Escrow Agent Agreements” has the meaning set forth in Section 3(e)(i) of the Note
Purchase Agreement.

          “Escrow and Paying Agent Agreements” has the meaning set forth in the sixth recital to
the Note Purchase Agreement.

          “FAA” means the Federal Aviation Administration of the United States.

Note Purchase Agreement 07-1

2

 

          “Financing Agreements” means, collectively, the Participation Agreement, the Trust
Indenture and the Equipment Notes issued thereunder.

          “Funding Date” has the meaning set forth in Section 1(b)(i) of the Note Purchase
Agreement.

          “Government Entity” means (a) any federal, state, provincial or similar government,
and any body, board, department, commission, court, tribunal, authority, agency or other
instrumentality of any such government or otherwise exercising any executive, legislative,
judicial, administrative or regulatory functions of such government or (b) any other government
entity having jurisdiction over any matter contemplated by the Operative Agreements or relating to
the observance or performance of the obligations of any of the parties to the Operative Agreements.

          “Guarantee” means the Guarantee dated as of June 28, 2011 from US Airways Group, Inc.

          “Indenture Trustee” has the meaning set forth in the Financing Agreements.

          “Initial Deposits” has the meaning set forth in the sixth recital to the Note Purchase
Agreement.

          “Intercreditor Agreement” has the meaning set forth in the ninth recital to the Note
Purchase Agreement.

          “Issuance Date” means the date of the original issuance of the Certificates.

          “Law” means (a) any constitution, treaty, statute, law, decree, regulation, order,
rule or directive of any Government Entity, and (b) any judicial or administrative interpretation
or application of, or decision under, any of the foregoing.

          “Liquidity Facility” has the meaning set forth in the ninth recital to the Note
Purchase Agreement.

          “Liquidity Provider” has the meaning set forth in the ninth recital to the Note
Purchase Agreement.

          “Manufacturer” means Airbus S.A.S., a société par actions simplifiée organized and
existing under the laws of the Republic of France, solely in its capacity as manufacturer or seller
of New Aircraft.

          “New Aircraft” has the meaning set forth in the second recital to the Note Purchase
Agreement.

          “Note Purchase Agreement” means the Note Purchase Agreement to which this Annex A is
attached.

Note Purchase Agreement 07-1

3

 

          “Notice of Purchase Withdrawal” with respect to each Deposit Agreement, has the
meaning set forth in Section 2.3 thereof.

          “Operative Agreements” means, collectively, the Pass Through Trust Agreements, the
Escrow and Paying Agent Agreements, the Deposit Agreements, the Liquidity Facilities, the
Intercreditor Agreement, the Equipment Notes, the Certificates and the Financing Agreements.

          “Owned Aircraft” has the meaning set forth in the second recital to the Note Purchase
Agreement.

          “Participation Agreement” means, the Participation Agreement substantially in the form
of Exhibit B to the Note Purchase Agreement.

          “Paying Agent Agreements” has the meaning set forth in Section 3(f)(i) of the Note
Purchase Agreement.

          “Pass Through Trust” has the meaning set forth in the fourth recital to the Note
Purchase Agreement.

          “Pass Through Trust Agreement” means each of the three separate Trust Supplements
referred to in the fourth recital to the Note Purchase Agreement, together in each case with the
Basic Pass Through Trust Agreement, each dated as of the Issuance Date, by and between the Company
and Pass Through Trustee.

          “Pass Through Trustee” has the meaning set forth in the first paragraph of the Note
Purchase Agreement.

          “Paying Agent” has the meaning set forth in the first paragraph of the Note Purchase
Agreement.

          “Person” means any individual, firm, partnership, joint venture, trust, trustee,
Government Entity, organization, association, corporation, limited liability company, government
agency, committee, department, authority and other body, corporate or incorporate, whether having
distinct legal status or not, or any member of any of the same.

          “Rating Agencies” means, collectively, at any time, each nationally recognized rating
agency which shall have been requested to rate the Certificates and which shall then be rating the
Certificates. The initial Rating Agencies will be Moody’s Investors Service, Inc. and Standard &
Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business.

          “Rating Agency Confirmation” means, with respect to (1) any Financing Agreement or (2)
a Substitute Aircraft, that has been modified in any material respect from the forms thereof
attached to the Note Purchase Agreement, a written confirmation from each of the Rating Agencies
that (1) the use of such Financing Agreement with such modifications or (2) the substituting of
such Substitute Aircraft for a New Aircraft, whichever of the foregoing shall in a particular case
require Rating Agency Confirmation, would not result in (i) a reduction of the rating for any Class
of Certificates then rated by the Rating Agencies below the then current

Note Purchase Agreement 07-1

4

 

rating for such Class of Certificates or (ii) a withdrawal or suspension of the rating of any
Class of Certificates then rated by the Rating Agencies.

          “Register” means the register maintained pursuant to Sections 3.04 and 7.12 of the
Basic Pass Through Trust Agreement with respect to each Pass Through Trust.

“Replacement Deposit Agreement” means, for each Class of Certificates, a deposit agreement
substantially in the form of the replaced Deposit Agreement for such Class of Certificates as shall
permit the Rating Agencies to confirm in writing their respective ratings then in effect for such
Class of Certificates (before the downgrading of such ratings, if any, as a result of the
downgrading of the Depositary, if applicable).

“Replacement Depositary” has the meaning set forth in Section 4(a)(vi) of the Note Purchase
Agreement.

          “Required Terms” means the terms set forth on Schedule III to the Note Purchase
Agreement.

          “Scheduled Closing Date” has the meaning set forth in Section 1(b) of the Note
Purchase Agreement.

          “Section 1110” means 11 U.S.C. § 1110 of the Bankruptcy Code or any successor or
analogous Section of the federal bankruptcy Law in effect from time to time.

          “Series A Equipment Notes” means the “Series A Equipment Notes” as defined in each
Trust Indenture entered into pursuant to the Note Purchase Agreement.

          “Series B Equipment Notes” means the “Series B Equipment Notes” as defined in each
Trust Indenture entered into pursuant to the Note Purchase Agreement.

          “Series C Equipment Notes” means the “Series C Equipment Notes” as defined in each
Trust Indenture entered into pursuant to the Note Purchase Agreement.

          “Subordination Agent” has the meaning set forth in the first paragraph of the Note
Purchase Agreement.

          “Substitute Aircraft” has the meaning set forth in Section 1(g) of the Note Purchase
Agreement.

          “Taxes” means all license, recording, documentary, registration and other similar fees
and all taxes, levies, imposts, duties, charges, assessments or withholdings of any nature
whatsoever imposed by any Taxing Authority, together with any penalties, additions to tax, fines or
interest thereon or additions thereto.

          “Taxing Authority” means any federal, state or local government or other taxing
authority in the United States, any foreign government or any political subdivision or taxing
authority thereof, any international taxing authority or any territory or possession of the United
States or any taxing authority thereof.

Note Purchase Agreement 07-1

5

 

          “Triggering Event” has the meaning assigned to such term in the Intercreditor
Agreement.

          “Trust Indenture” means the Trust Indenture and Security Agreement substantially in
the form of Exhibit C to the Note Purchase Agreement.

          “Trust Supplement” means an agreement supplemental to the Basic Pass Through Trust
Agreement pursuant to which (i) a separate trust is created for the benefit of the holders of the
pass through certificates of a class, (ii) the issuance of the pass through certificates of such
class representing fractional undivided interests in such trust is authorized and (iii) the terms
of the pass through certificates of such class are established.

          “Underwriters” has the meaning set forth in the fifth recital to the Note Purchase
Agreement.

          “Underwriting Agreement” has the meaning set forth in the fifth recital to the Note
Purchase Agreement.

“WTC” has the meaning set forth in the first paragraph of the Note Purchase Agreement.

Note Purchase Agreement 07-1

6

 

EXHIBIT A to

Note Purchase Agreement

FORM OF CLOSING NOTICE

Note Purchase Agreement 10-1

 

 

EXECUTION COPY

EXHIBIT A

TO

NOTE PURCHASE AGREEMENT

CLOSING NOTICE

Dated as of [_________]

To each of the addressees listed

     in Schedule A hereto

	 	 	 	 	 

	 

	 	Re:
	 	Closing Notice in accordance with Note Purchase
Agreement referred to below

Ladies and Gentlemen:

          Reference is made to the Note Purchase Agreement, dated as of June 28, 2011 among US Airways,
Inc. (the “Company”), Wilmington Trust Company, as Pass Through Trustee under each of the
Pass Through Trust Agreements (as defined therein) (the “Pass Through Trustee”), Wilmington
Trust Company, as Subordination Agent (the “Subordination Agent”), Wells Fargo Bank
Northwest, National Association, as Escrow Agent (the “Escrow Agent”), and Wilmington Trust
Company, as Paying Agent (the “Paying Agent”) (as in effect from time to time, the
“Note Purchase Agreement”). Unless otherwise defined herein, capitalized terms used herein
shall have the meanings set forth in the Note Purchase Agreement or, to the extent not defined
therein, the Intercreditor Agreement.

          Pursuant to Section 1(b) of the Note Purchase Agreement, the undersigned hereby notifies you,
in respect of the Airbus Model [_______] aircraft with manufacturer’s serial number [______] (the
“Aircraft”), of the following:

	(1)	 	The Scheduled Closing Date of the Aircraft is [_________];

	(2)	 	The Funding Date for the Aircraft shall be [__________]; and

	(3)	 	The aggregate amount of each series of Equipment Notes to be issued, and purchased by the
respective Pass Through Trustees referred to below (each, an “Applicable Pass Through
Trustee”), on the Funding Date, in connection with the financing of such Aircraft is as
follows:

          (a) the Class A Pass Through Trustee shall purchase Series A Equipment Notes in the amount of
$[__________];

 

 

-2-

	 	(b)	 	the Class B Pass Through Trustee shall purchase Series B Equipment Notes in the
amount of $[__________]; and
	 
	 	(c)	 	the Class C Pass Through Trustee shall purchase Series C Equipment Notes in the
amount of $[__________].

          The Company hereby instructs the Class A Pass Through Trustee to (i) execute a Withdrawal
Certificate in the form of Annex A hereto dated as of [__________] and attach thereto a Notice of
Purchase Withdrawal dated such date completed as set forth on Exhibit A hereto and (ii) deliver
such Withdrawal Certificate and Notice of Purchase Withdrawal to the applicable Escrow Agent.

          The Company hereby instructs the Class B Pass Through Trustee to (i) execute a Withdrawal
Certificate in the form of Annex A hereto dated as of [__________] and attach thereto a Notice of
Purchase Withdrawal dated such date completed as set forth on Exhibit B hereto and (ii) deliver
such Withdrawal Certificate and Notice of Purchase Withdrawal to the applicable Escrow Agent.

          The Company hereby instructs the Class C Pass Through Trustee to (i) execute a Withdrawal
Certificate in the form of Annex A hereto dated as of [__________] and attach thereto a Notice of
Purchase Withdrawal dated such date completed as set forth on Exhibit C hereto and (ii) deliver
such Withdrawal Certificate and Notice of Purchase Withdrawal to the applicable Escrow Agent.

          The Company hereby instructs each Applicable Pass Through Trustee to (i) purchase Equipment
Notes of a series and in an amount set forth opposite such Pass Through Trustee in clause (3) above
with a portion of the proceeds of the withdrawals of Deposits referred to in the applicable Notice
of Purchase Withdrawal referred to above and (ii) re-deposit with the Depositary the excess, if
any, of the amount so withdrawn over the purchase price of such Equipment Notes.

          The Company hereby instructs each Applicable Pass Through Trustee to (a) enter into the
Participation Agreement [____] dated as of [___________] among the Company, as Owner, and
Wilmington Trust Company, as Indenture Trustee and Loan Participant, (b) perform its obligations
thereunder and (c) deliver such certificates, documents and legal opinions relating to such Pass
Through Trustee as required thereby.

Yours faithfully,

US Airways, Inc.

	 	 	 	 	 

	By:

	 	 	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 

 

 

SCHEDULE A

Wilmington Trust Company, as

  Pass Through Trustee, Subordination

  Agent and Paying Agent

1100 North Market Street

Wilmington, Delaware 19890-1605

Attention: Corporate Trust Administration

Facsimile: (302) 636-4140

Wells Fargo Bank Northwest, National Association,

  as Escrow Agent

MAC: U1228-120

299 South Main Street, 12th Floor

Salt Lake City, Utah 84111

Attention: Corporate Trust Department

Facsimile: (801) 246-5053

The Bank of New York Mellon,

  as Depositary

101 Barclay Street, Floor 8W

New York, NY 10286

Attention: Corporate Finance, Mary Miselis, Vice President

Reference: US Airways 2011-1

Facsimile: (212) 815-5704

Standard & Poor’s Ratings Services

55 Water Street, 39th Floor

New York, New York 10041-0003

Attention: Philip A. Baggaley, CFA

Facsimile: (212) 438-7820

Moody’s Investors Service, Inc.

7 World Trade Center at 250 Greenwich Street

New York, New York 10007

Attention: Michael Mulvaney

Facsimile: 212-553-4661

 

 

Annex A

WITHDRAWAL CERTIFICATE

(Class ___)

Wells Fargo Bank Northwest, National Association,

as Escrow Agent

Ladies and Gentlemen:

          Reference is made to the Escrow and Paying Agent Agreement, dated as of June 28, 2011 (the
“Agreement”). We hereby certify to you that the conditions to the obligations of the undersigned
to execute a Participation Agreement pursuant to the Note Purchase Agreement have been satisfied.
Pursuant to Section 1.02(c) of the Agreement, please execute the attached Notice of Purchase
Withdrawal and immediately transmit by facsimile to the Depositary, at (212) 815-5704 (Attention:
Corporate Finance, Mary Miselis, Vice President).

          Capitalized terms used herein but not defined herein shall have the meanings set forth in the
Agreement.

	 	 	 	 	 
	 	Very truly yours,

WILMINGTON TRUST COMPANY, not in its individual

capacity but solely as Pass

Through Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated: As of [____________]

 

 

Annex A

NOTICE OF PURCHASE WITHDRAWAL

The Bank of New York Mellon,

  as Depositary

101 Barclay Street, Floor 8W

New York, NY 10286

Attention: Corporate Finance, Mary Miselis, Vice President

Reference: US Airways 2011-1

Telecopier: (212) 815-5704

Ladies and Gentlemen:

          Reference is made to the Deposit Agreement (Class A) dated as of June 28, 2011 (the
“Deposit Agreement”) between Wells Fargo Bank Northwest, National Association, as Escrow
Agent, and The Bank of New York Mellon, as Depositary (the “Depositary”).

          In accordance with Section 2.3(a) of the Deposit Agreement, the undersigned hereby requests
the withdrawal of the entire amount of the Deposit, $[_______], Account No. [____].

          The undersigned hereby directs the Depositary to pay the entire amount of the Deposit to
[___________________], Account No. [____], Reference: [_________] on [__________], upon the
telephonic request of a representative of the Pass Through Trustee.

	 	 	 	 	 
	 	WELLS FARGO BANK NORTHWEST,

NATIONAL ASSOCIATION,

as Escrow Agent

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated: As of [____________]

 

 

NOTICE OF PURCHASE WITHDRAWAL

The Bank of New York Mellon,

  as Depositary

101 Barclay Street, Floor 8W

New York, NY 10286

Attention: Corporate Finance, Mary Miselis, Vice President

Reference: US Airways 2011-1

Telecopier: (212) 815-5704

Ladies and Gentlemen:

          Reference is made to the Deposit Agreement (Class B) dated as of June 28, 2011 (the
“Deposit Agreement”) between Wells Fargo Bank Northwest, National Association, as Escrow
Agent, and The Bank of New York Mellon, as Depositary (the “Depositary”).

          In accordance with Section 2.3(a) of the Deposit Agreement, the undersigned hereby requests
the withdrawal of the entire amount of the Deposit, $[_______], Account No. [____].

          The undersigned hereby directs the Depositary to pay the entire amount of the Deposit to
[___________________], Account No. [____], Reference: [__________] on [__________], upon the
telephonic request of a representative of the Pass Through Trustee.

	 	 	 	 	 
	 	WELLS FARGO BANK NORTHWEST,

NATIONAL ASSOCIATION,

as Escrow Agent

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated: As of [____________]

Closing Notice 09-2

 

 

NOTICE OF PURCHASE WITHDRAWAL

The Bank of New York Mellon,

  as Depositary

101 Barclay Street, Floor 8W

New York, NY 10286

Attention: Corporate Finance, Mary Miselis, Vice President

Reference: US Airways 2011-1

Telecopier: (212) 815-5704

Ladies and Gentlemen:

          Reference is made to the Deposit Agreement (Class C) dated as of June 28, 2011 (the
“Deposit Agreement”) between Wells Fargo Bank Northwest, National Association, as Escrow
Agent, and The Bank of New York Mellon, as Depositary (the “Depositary”).

          In accordance with Section 2.3(a) of the Deposit Agreement, the undersigned hereby requests
the withdrawal of the entire amount of the Deposit, $[_______], Account No. [____].

          The undersigned hereby directs the Depositary to pay the entire amount of the Deposit to
[___________________], Account No. [____], Reference: [__________] on [__________], upon the
telephonic request of a representative of the Pass Through Trustee.

	 	 	 	 	 
	 	WELLS FARGO BANK NORTHWEST,

NATIONAL ASSOCIATION,

as Escrow Agent

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated: As of [____________]

Closing Notice 09-2

 

 

EXHIBIT B to

Note Purchase Agreement

FORM OF PARTICIPATION AGREEMENT

Note Purchase Agreement 10-1

 

 

EXHIBIT C to

Note Purchase Agreement

FORM OF INDENTURE

Note Purchase Agreement 10-1exv4w18

EXHIBIT B TO NOTE PURCHASE AGREEMENT

 

PARTICIPATION AGREEMENT [___]

Dated as of [_____________], 2011

Among

US AIRWAYS, INC.,

Owner,

and

WILMINGTON TRUST COMPANY,

Not in its individual capacity

except as expressly provided herein,

but solely as Indenture Trustee, Subordination Agent

under the Intercreditor Agreement and Pass Through Trustee

under each of the Applicable Pass Through Trust Agreements

 

[__] Airbus Model [_________] Aircraft

Bearing Manufacturer’s Serial No.[______]

and U.S. Registration No. N[_______]

 

 

 

CONTENTS

	 	 	 	 	 

	SECTION 1. DEFINITIONS AND CONSTRUCTION 
	 	 	2	 
	 
	 	 	 	 
	SECTION 2. SECURED LOANS; CLOSING 
	 	 	2	 
	2.1 Making of Loans and Issuance of Equipment Notes 
	 	 	2	 
	2.2 Closing 
	 	 	2	 
	 
	 	 	 	 
	SECTION 3. GUARANTEE 
	 	 	2	 
	 
	 	 	 	 
	SECTION 4. CONDITIONS PRECEDENT 
	 	 	3	 
	4.1 Conditions Precedent to the Obligations of the Pass
Through Trustees
	 	 	3	 
	4.2 Conditions Precedent to Obligations of Indenture Trustee 
	 	 	6	 
	4.3 Conditions Precedent to Obligations of Owner 
	 	 	7	 
	4.4 Post-Registration Opinion 
	 	 	8	 
	 
	 	 	 	 
	SECTION 5. REPRESENTATIONS AND WARRANTIES 
	 	 	8	 
	5.1 Owner’s Representations and Warranties 
	 	 	8	 
	5.2 WTC’s Representations and Warranties 
	 	 	11	 
	 
	 	 	 	 
	SECTION 6. COVENANTS, UNDERTAKINGS AND AGREEMENTS 
	 	 	14	 
	6.1 Covenants of Owner 
	 	 	14	 
	6.2 Covenants of WTC 
	 	 	15	 
	6.3 Covenants of Note Holders 
	 	 	16	 
	6.4 Agreements 
	 	 	17	 
	 
	 	 	 	 
	SECTION 7. CONFIDENTIALITY 
	 	 	20	 
	 
	 	 	 	 
	SECTION 8. INDEMNIFICATION AND EXPENSES 
	 	 	21	 
	8.1 General Indemnity 
	 	 	21	 
	8.2 Expenses 
	 	 	25	 
	8.3 General Tax Indemnity 
	 	 	26	 
	8.4 Payments 
	 	 	33	 
	8.5 Interest 
	 	 	33	 
	8.6 Benefit of Indemnities 
	 	 	33	 
	 
	 	 	 	 
	SECTION 9. ASSIGNMENT OR TRANSFER OF INTEREST 
	 	 	34	 
	9.1 Note Holders 
	 	 	34	 
	9.2 Effect of Transfer 
	 	 	34	 
	 
	 	 	 	 
	SECTION 10. SECTION 1110 
	 	 	34	 
	 
	 	 	 	 
	SECTION 11. CHANGE OF CITIZENSHIP 
	 	 	34	 
	 
	 	 	 	 
	11.1 Generally 
	 	 	34	 
	11.2 Indenture Trustee 
	 	 	35	 

PARTICIPATION AGREEMENT (2011-1)

i

 

	 	 	 	 	 

	SECTION 12. MISCELLANEOUS 
	 	 	35	 
	12.1 Amendments 
	 	 	35	 
	12.2 Severability 
	 	 	35	 
	12.3 Survival 
	 	 	35	 
	12.4 Reproduction of Documents 
	 	 	36	 
	12.5 Counterparts 
	 	 	36	 
	12.6 No Waiver 
	 	 	36	 
	12.7 Notices 
	 	 	36	 
	12.8 GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE
	 	 	37	 
	12.9 Third-Party Beneficiary 
	 	 	38	 
	12.10 Entire Agreement 
	 	 	38	 
	12.11 Further Assurances 
	 	 	38	 
	 
	 	 	 	 
	SCHEDULES AND EXHIBITS
	 	 	 	 
	 
	 	 	 	 
	SCHEDULE 1 — Accounts; Addresses
	 	 	 	 
	SCHEDULE 2 — Commitments
	 	 	 	 
	SCHEDULE 3 — Certain Terms
	 	 	 	 
	SCHEDULE 4 — Permitted Countries
	 	 	 	 
	 
	 	 	 	 
	EXHIBIT A —  Opinion of special counsel to Owner
	 	 	 	 
	EXHIBIT B —  Opinion of regulatory counsel to Owner
	 	 	 	 
	EXHIBIT C-1 — Opinion of special counsel to Indenture Trustee
and to the Applicable Pass Through Trustees
	 	 	 	 
	EXHIBIT C-2 — Opinion of special counsel to Indenture Trustee
and to the Applicable Pass Through Trustees
	 	 	 	 
	EXHIBIT D —  Opinion of special counsel in Oklahoma City, Oklahoma
	 	 	 	 
	[EXHIBIT E —  Opinion of special French counsel]1
	 	 	 	 

 

			
	1	 	Insert for New Aircraft.

PARTICIPATION AGREEMENT (2011-1)

ii

 

PARTICIPATION AGREEMENT [___]

     PARTICIPATION AGREEMENT [____], dated as of [____________], 2011 (this “Agreement”), among (a)
US AIRWAYS, INC., a Delaware corporation (“Owner”), (b) WILMINGTON TRUST COMPANY, a Delaware
banking corporation, not in its individual capacity, except as expressly provided herein, but
solely as Indenture Trustee (in its capacity as Indenture Trustee, “Indenture Trustee” and in its
individual capacity, “WTC”), (c) WILMINGTON TRUST COMPANY, not in its individual capacity, except
as expressly provided herein, but solely as Pass Through Trustee under each of the Applicable Pass
Through Trust Agreements (each, an “Applicable Pass Through Trustee”) and (d) WILMINGTON TRUST
COMPANY, not in its individual capacity, except as expressly provided herein, but solely as
Subordination Agent under the Intercreditor Agreement (“Subordination Agent”).

RECITALS

     A. [The Aircraft is currently owned by Owner.]2 [Owner and Airframe Manufacturer
have entered into the Purchase Agreement, pursuant to which, among other things, Airframe
Manufacturer has agreed to manufacture and sell to Owner and Owner has agreed to purchase from
Airframe Manufacturer, certain aircraft, including the Aircraft.]3

     B. Pursuant to each of the Pass Through Trust Agreements, the Pass Through Trusts were created
and the Pass Through Certificates were issued and sold.

     C. Each Applicable Pass Through Trustee has agreed to use a portion of the proceeds from the
issuance and sale of the Pass Through Certificates issued by each Applicable Pass Through Trust to
purchase from Owner, on behalf of the related Applicable Pass Through Trust, the Equipment Note
bearing the same interest rate as the Pass Through Certificates issued by such Pass Through Trust.

     D. Owner and Indenture Trustee, concurrently with the execution and delivery hereof, have
entered into the Trust Indenture for the benefit of the Note Holders, pursuant to which, among
other things, Owner agrees (1) to issue Equipment Notes, in the amounts and otherwise as provided
in the Trust Indenture, and (2) to mortgage, pledge and assign to Indenture Trustee all of Owner’s
right, title and interest in the Collateral to secure the Secured Obligations, including, without
limitation, Owner’s obligations under the Equipment Notes.

     E. The parties hereto wish to set forth in this Agreement the terms and conditions upon and
subject to which the aforesaid transactions shall be effected.

     NOW, THEREFORE, in consideration of the premises and the mutual agreements contained herein
and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

 

			
	2	 	Insert for Owned Aircraft.
	 
	3	 	Insert for New Aircraft.

PARTICIPATION AGREEMENT (2011-1)

1

 

SECTION 1. DEFINITIONS AND CONSTRUCTION

     Capitalized terms used but not defined herein (including in the initial paragraph and Recitals
above) shall have the respective meanings set forth or incorporated by reference, and shall be
construed and interpreted in the manner described, in Annex A to the Trust Indenture.

SECTION 2. SECURED LOANS; CLOSING

     2.1 Making of Loans and Issuance of Equipment Notes

     Subject to the terms and conditions of this Agreement, on the date hereof or on such other
date agreed to by the parties hereto (the “Closing Date”):

	 	(a)	 	Each Applicable Pass Through Trustee listed on Schedule 2 shall make a secured
loan to the Owner in the amount in Dollars opposite such Trustee’s name on Schedule 2;
and
	 
	 	(b)	 	The Owner shall issue, pursuant to and in accordance with the provisions of
Article II of the Trust Indenture, to the Subordination Agent as the registered holder
on behalf of each such Applicable Pass Through Trustee, one or more Equipment Notes,
dated the Closing Date, of the Series set forth opposite such Trustee’s name on
Schedule 2, in an aggregate principal amount equal to the amount of the secured loan
made by each such Applicable Pass Through Trustee.

     In addition, the Owner shall have the option after the Closing Date to redeem and reissue
Series B Equipment Notes and to redeem and reissue Series C Equipment Notes, subject to the terms
of the Note Purchase Agreement and the Intercreditor Agreement. If Series B or Series C are so
reissued after the Closing Date, the Note Holder of such Equipment Notes shall be entitled to
execute a counterpart to this Agreement and become a party hereto.

2.2 Closing

     (a) The Closing of the transactions contemplated hereby shall take place at the offices of
[__], or at such other place as the parties shall agree.

     (b) All payments pursuant to this Section 2 shall be made in immediately available funds to
such accounts set forth in Schedule 1 hereto.

SECTION 3. GUARANTEE

     The payment obligations of the Owner hereunder, under the Trust Indenture and the Equipment
Notes issued thereunder will be guaranteed by US Airways Group, Inc. on and subject to to the terms
and conditions of the Guarantee heretofore delivered to the Pass Through Trustees, the
Subordination Agent and the Indenture Trustee.

PARTICIPATION AGREEMENT (2011-1)

2

 

SECTION 4. CONDITIONS PRECEDENT

     4.1 Conditions Precedent to the Obligations of the Pass Through Trustees

     The obligation of each Applicable Pass Through Trustee listed on Schedule 2 to make the
secured loan described in Section 2.1(a) and to participate in the transactions contemplated by
this Agreement on the Closing Date is subject to the fulfillment, prior to or on the Closing Date,
of the following conditions precedent:

     4.1.1 Equipment Notes

     The Owner shall have tendered the Equipment Notes to be issued to such Applicable Pass Through
Trustees to the Indenture Trustee for authentication and the Indenture Trustee shall have
authenticated such Equipment Notes to be issued to such Applicable Pass Through Trustees and shall
have tendered the Equipment Notes to the Subordination Agent on behalf of such Pass Through
Trustee, against receipt of the loan proceeds, in accordance with Section 2.1.

     4.1.2 Delivery of Documents

     The Subordination Agent on behalf of each such Applicable Pass Through Trustee shall have
received executed counterparts or conformed copies of the following documents:

     (i) this Agreement;

     (ii) the Trust Indenture;

     (iii) the initial Trust Indenture Supplement;

     (iv) the broker’s report and insurance certificates required by Section 4.06 of the
Trust Indenture;

     (v) [the Consent and Agreement, the Engine Consent and Agreement and the French Pledge
Agreement;]4 [the Release;]5

     (vi) the Bills of Sale;

     (vii) (A) a copy of the Certificate of Incorporation and By-Laws of Owner and
resolutions of the board of directors of Owner and/or the executive committee thereof, in
each case certified as of the Closing Date, by the Secretary or an Assistant Secretary of
Owner, duly authorizing the execution, delivery and performance by Owner of the Operative
Agreements to which it is party required to be executed and delivered by
Owner on or prior to the Closing Date in accordance with the provisions hereof and thereof;
and (B) an incumbency certificate of Owner as to the person or persons authorized to execute
and deliver the Operative Agreements on behalf of Owner;

 

			
	4	 	Insert for New Aircraft.
	 
	5	 	Insert for Owned Aircraft.

PARTICIPATION AGREEMENT (2011-1)

3

 

     (viii) an Officer’s Certificate of Owner, dated as of the Closing Date, stating that
its representations and warranties set forth in this Agreement are true and correct as of
the Closing Date (or, to the extent that any such representation and warranty expressly
relates to an earlier date, true and correct as of such earlier date);

     (ix) the Financing Statements;

     (x) the following opinions of counsel, in each case dated the Closing Date:

     (A) an opinion of Latham & Watkins LLP, special counsel to Owner, substantially
in the form of Exhibit A;

     (B) an opinion of Squire, Sanders & Dempsey, L.L.P., regulatory counsel to
Owner, substantially in the form of Exhibit B;

     (C) the opinions of Morris James LLP, special counsel to Indenture Trustee and
to the Applicable Pass Through Trustees, each substantially in the form of Exhibits
C-1 and C-2;

     (D) an opinion of Daugherty, Fowler, Peregrin, Haught & Jenson, special counsel
in Oklahoma City, Oklahoma, substantially in the form of Exhibit D;

     (E) [an opinion of special French counsel for the Owner, with respect to the
French Pledge Agreement, substantially in the form of Exhibit E;]6 and

     (xi) a copy of a current, valid Standard Certificate of Airworthiness for the Aircraft
duly issued by the FAA [, together with a copy of a duly executed application for
registration of the Aircraft with the FAA in the name of the Owner.]7

     4.1.3 Perfected Security Interest

     On the Closing Date, after giving effect to the filing of the FAA Filed Documents, the
Financing Statements and the registration of the International Interest (or Prospective
International Interest) of the Indenture Trustee in the Airframe and each Engine with the
International Registry, Indenture Trustee shall have received a duly perfected first priority
security interest in all of Owner’s right, title and interest in the Aircraft, subject only to
Permitted Liens.

     4.1.4 Violation of Law

     No change shall have occurred after the date of this Agreement in any applicable Law that
makes it a violation of Law for (a) Owner, any Applicable Pass Through Trustee, Subordination Agent
or Indenture Trustee to execute, deliver and perform the Operative

 

			
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Agreements to which any of them is a party or (b) any Applicable Pass Through Trustee to make the
loan contemplated by Section 2.1, to acquire an Equipment Note or to realize the benefits of the
security afforded by the Trust Indenture.

     4.1.5 Representations, Warranties and Covenants

     The representations and warranties of each other party to this Agreement made, in each case,
in this Agreement and in any other Operative Agreement to which it is a party, shall be true and
accurate in all material respects as of the Closing Date (unless any such representation and
warranty shall have been made with reference to a specified date, in which case such representation
and warranty shall be true and accurate as of such specified date) and each other party to this
Agreement shall have performed and observed, in all material respects, all of its covenants,
obligations and agreements in this Agreement and in any other Operative Agreement to which it is a
party to be observed or performed by it as of the Closing Date.

     4.1.6 No Event of Default

     On the Closing Date, no event shall have occurred and be continuing, or would result from the
mortgage of the Aircraft, which constitutes a Default or an Event of Default.

     4.1.7 No Event of Loss

     No Event of Loss with respect to the Airframe or any Engine shall have occurred and no
circumstance, condition, act or event that, with the giving of notice or lapse of time or both,
would give rise to or constitute an Event of Loss with respect to the Airframe or any Engine shall
have occurred.

     4.1.8 Title

     Owner shall have good title [(subject to filing and recordation of the FAA Bill of Sale with
the FAA)]8 to the Aircraft, free and clear of all Liens, except Permitted Liens [and
subject to filing and recordation of the Release with the FAA]9.

     4.1.9 Certification

     The Aircraft shall have been duly certificated by the FAA as to type and airworthiness in
accordance with the terms of the Purchase Agreement.

     4.1.10 Section 1110

     Indenture Trustee shall be entitled to the benefits of Section 1110 (as currently in effect)
with respect to the right to take possession of the Airframe and Engines and to enforce any of its
other rights or remedies as provided in the Trust Indenture in the event of a case under
Chapter 11 of the Bankruptcy Code in which Owner is a debtor.

 

			
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     4.1.11 Filing

     On the Closing Date (a) the FAA Filed Documents shall have been duly filed for recordation (or
shall be in the process of being so duly filed for recordation) with the FAA in accordance with the
Act, (b) [the sale of the Airframe and Engines to the Owner and]10 the International
Interest (or Prospective International Interest) of the Indenture Trustee in the Airframe and
Engines granted (or to be granted) under the Trust Indenture shall have been registered with the
International Registry and there shall exist no registered International Interest with respect to
the Airframe or either Engine on the International Registry with a priority over the International
Interest of the Indenture Trustee therein, (c) each Financing Statement shall have been duly filed
(or shall be in the process of being so duly filed) in the appropriate jurisdiction and (d) the
Subordination Agent, on behalf of each Applicable Pass Through Trustee, shall have received a
printout of the “priority search certificate” from the International Registry relating to the
Airframe and each Engine showing no International Interest with a priority over the International
Interest of the Indenture Trustee therein.

     4.1.12 No Proceedings

     No action or proceeding shall have been instituted, nor shall any action be threatened in
writing, before any Government Entity, nor shall any order, judgment or decree have been issued or
proposed to be issued by any Government Entity, to set aside, restrain, enjoin or prevent the
completion and consummation of this Agreement or any other Operative Agreement or the transactions
contemplated hereby or thereby.

     4.1.13 Governmental Action

     All appropriate action required to have been taken prior to the Closing Date by the FAA, or
any governmental or political agency, subdivision or instrumentality of the United States, in
connection with the transactions contemplated by this Agreement shall have been taken, and all
orders, permits, waivers, authorizations, exemptions and approvals of such entities required to be
in effect on the Closing Date in connection with the transactions contemplated by this Agreement
shall have been issued.

     4.1.14 Note Purchase Agreement

     The conditions precedent to the obligations of the Applicable Pass Through Trustees and the
other requirements relating to the Aircraft and the Equipment Notes set forth in the Note Purchase
Agreement shall have been satisfied.

     4.2 Conditions Precedent to Obligations of Indenture Trustee

     The obligation of Indenture Trustee to authenticate the Equipment Notes on the Closing Date is
subject to the satisfaction or waiver by Indenture Trustee, on or prior to the Closing Date, of the
conditions precedent set forth below in this Section 4.2.

 

			
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     4.2.1 Documents

     Executed originals of the agreements, instruments, certificates or documents described in
Section 4.1.2 shall have been received by Indenture Trustee, except as specifically provided
therein, unless the failure to receive any such agreement, instrument, certificate or document is
the result of any action or inaction by Indenture Trustee.

     4.2.2 Other Conditions Precedent

     Each of the conditions set forth in Sections 4.1.4, 4.1.5, 4.1.6 and 4.1.10 shall have been
satisfied unless the failure of any such condition to be satisfied is the result of any action or
inaction by Indenture Trustee.

     4.3 Conditions Precedent to Obligations of Owner

     The obligation of Owner to participate in the transaction contemplated hereby on the Closing
Date is subject to the satisfaction or waiver by Owner, on or prior to the Closing Date, of the
conditions precedent set forth below in this Section 4.3.

     4.3.1 Documents

     Executed originals of the agreements, instruments, certificates or documents described in
Section 4.1.2 shall have been received by Owner, except as specifically provided therein, and shall
be satisfactory to Owner, unless the failure to receive any such agreement, instrument, certificate
or document is the result of any action or inaction by Owner. In addition, the Owner shall have
received the following:

     (i) (A) an incumbency certificate of WTC as to the person or persons authorized to
execute and deliver the Operative Agreements on behalf of WTC and (B) a copy of the
Certificate of Incorporation and By-Laws and general authorizing resolution of the board of
directors (or executive committee) or other satisfactory evidence of authorization of WTC,
certified as of the Closing Date by the Secretary or Assistant or Attesting Secretary of
WTC, which authorize the execution, delivery and performance by WTC of the Operative
Agreements to which it is a party; and

     (ii) an Officer’s Certificate of WTC, dated as of the Closing Date, stating that its
representations and warranties in its individual capacity or as Indenture Trustee, an
Applicable Pass Through Trustee or Subordination Agent, as the case may be, set forth in
this Agreement are true and correct as of the Closing Date (or, to the extent that any such
representation and warranty expressly relates to an earlier date, true and correct as of
such earlier date).

     4.3.2 Other Conditions Precedent

     Each of the conditions set forth in Sections 4.1.4, 4.1.5, 4.1.6, 4.1.7, 4.1.8, 4.1.9, 4.1.10,
4.1.11, 4.1.12 and 4.1.13 shall have been satisfied or waived by Owner, unless the failure of any
such condition to be satisfied is the result of any action or inaction by Owner.

PARTICIPATION AGREEMENT (2011-1)

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     4.4 Post-Registration Opinion

     Promptly upon [the registration of the Aircraft and]11 the recordation of the FAA
Filed Documents pursuant to the Act, Owner will cause Daugherty, Fowler, Peregrin, Haught & Jenson,
special counsel in Oklahoma City, Oklahoma, to deliver to Owner, each Pass Through Trustee and
Indenture Trustee a favorable opinion or opinions addressed to each of them with respect to such
[registration and]12 recordation.

SECTION 5. REPRESENTATIONS AND WARRANTIES

     5.1 Owner’s Representations and Warranties

     Owner represents and warrants to each Pass Through Trustee, Subordination Agent and Indenture
Trustee that:

     5.1.1 Organization; Qualification

     Owner is a corporation duly incorporated, validly existing and in good standing under the Laws
of the State of Delaware and has the corporate power and authority to conduct the business in which
it is currently engaged and to own or hold under lease its properties and to enter into and perform
its obligations under the Operative Agreements to which it is party. Owner is duly qualified to do
business as a foreign corporation in good standing in each jurisdiction in which the nature and
extent of the business conducted by it, or the ownership of its properties, requires such
qualification, except where the failure to be so qualified would not give rise to a Material
Adverse Change to Owner.

     5.1.2 Corporate Authorization

     Owner has taken, or caused to be taken, all necessary corporate action (including, without
limitation, the obtaining of any consent or approval of stockholders required by its Certificate of
Incorporation or By-Laws) to authorize the execution and delivery of each of the Operative
Agreements to which it is party, and the performance of its obligations thereunder.

     5.1.3 No Violation

     The execution and delivery by Owner of the Operative Agreements to which it is party, the
performance by Owner of its obligations thereunder and the consummation by Owner on the Closing
Date of the transactions contemplated thereby, do not and will not (a) violate any provision of the
Certificate of Incorporation or By-Laws of Owner, (b) violate any Law applicable to or binding on
Owner or (c) violate or constitute any default under (other than any violation or default that
would not result in a Material Adverse Change to Owner), or result in the creation of any Lien
(other than as permitted under the Trust Indenture) upon the Aircraft under, any indenture,
mortgage, chattel mortgage, deed of trust, conditional sales contract, lease,

 

			
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PARTICIPATION AGREEMENT (2011-1)

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loan or other
material agreement, instrument or document to which Owner is a party or by which Owner or any of
its properties is bound.

     5.1.4 Approvals

     The execution and delivery by Owner of the Operative Agreements to which Owner is a party, the
performance by Owner of its obligations thereunder and the consummation by Owner on the Closing
Date of the transactions contemplated thereby do not and will not require the consent or approval
of, or the giving of notice to, or the registration with, or the recording or filing of any
documents with, or the taking of any other action in respect of, (a) any trustee or other holder of
any Debt of Owner and (b) any Government Entity, other than (x) the filings, registrations and
recordations referred to in Section 5.1.6 and (y) filings, recordings, notices or other ministerial
actions pursuant to any routine recording, contractual or regulatory requirements applicable to it.

     5.1.5 Valid and Binding Agreements

     The Operative Agreements to which Owner is a party have been duly authorized, executed and
delivered by Owner and, assuming the due authorization, execution and delivery thereof by the other
party or parties thereto, constitute the legal, valid and binding obligations of Owner and are
enforceable against Owner in accordance with the respective terms thereof, except as such
enforceability may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium
and other similar Laws affecting the rights of creditors generally and general principles of
equity, whether considered in a proceeding at law or in equity.

     5.1.6 Registration and Recordation

     Except for [(a) the registration of the Aircraft with the FAA pursuant to the Act in the name
of Owner, (b) the filing with the FAA of the AC Forms 8050-135 with respect to the sale of the
Airframe and Engines to Owner and the International Interests (or Prospective International
Interests) granted under the Trust Indenture thereon and the filing with the FAA for recordation
(and recordation) of the FAA Filed Documents, (c) the registration of the International Interest
(or Prospective International Interest) in, and the sale to the Owner of, the Airframe and Engines
with the International Registry,]13 [(a) the filing with the FAA of the AC Forms
8050-135 with respect to the International Interests (or Prospective International Interests)
granted under the Trust Indenture on the Airframe and Engines, (b) the filing with the FAA for
recordation (and recordation) of the FAA Filed Documents, (c) the discharge of any International
Interest with the International Registry in the Airframe or Engines granted to secure the Existing
Financing and the registration with the International Registry of the International Interest (or
Prospective International Interest) in the Airframe and Engines,]14 (d) the filing of
the Financing Statements (and continuation statements relating thereto at periodic intervals), and
(e) the affixation of the nameplates referred to in Section 4.02(f) of the Trust Indenture, no
further action, including any filing or recording of any document (including any financing
statement in

 

			
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	14	 	Insert for Owned Aircraft.

PARTICIPATION AGREEMENT (2011-1)

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respect thereof under Article 9 of the UCC) is necessary in order to establish and
perfect Indenture Trustee’s security interest in the Aircraft as against Owner and any other
Person, in each case, in any applicable jurisdictions in the United States.

     5.1.7 Owner’s Location

     The Owner’s location (as such term is used in Section 9-307 of the UCC) is Delaware. The full
and correct legal name and mailing address of Owner are correctly set forth in Schedule 1 hereto in
the column “Address for Notices”.

     5.1.8 No Event of Loss

     No Event of Loss has occurred with respect to the Airframe or any Engine, and, to the Actual
Knowledge of Owner, no circumstance, condition, act or event has occurred that, with the giving of
notice or lapse of time or both gives rise to or constitutes an Event of Loss with respect to the
Airframe or any Engine.

     5.1.9 Compliance With Laws

     (a) Owner is a Citizen of the United States and a U.S. Air Carrier.

     (b) Owner holds all licenses, permits and franchises from the appropriate Government Entities
necessary to authorize Owner to lawfully engage in air transportation and to carry on scheduled
commercial passenger service as currently conducted, except where the failure to so hold any such
license, permit or franchise would not give rise to a Material Adverse Change to Owner.

     (c) Owner is not an “investment company” or a company controlled by an “investment company”
within the meaning of the Investment Company Act of 1940, as amended.

     5.1.10 Securities Laws

     Neither Owner nor any person authorized to act on its behalf has directly or indirectly
offered any beneficial interest or Security relating to the ownership of the Aircraft, or any of
the Equipment Notes or any other interest in or security under the Trust Indenture, for sale to, or
solicited any offer to acquire any such interest or security from, or has sold any such
interest or security to, any person in violation of the Securities Act.

     5.1.11 Broker’s Fees

     No Person acting on behalf of Owner is or will be entitled to any broker’s fee, commission or
finder’s fee in connection with the Transactions, other than the fees and expenses payable by Owner
in connection with the sale of the Pass Through Certificates.

PARTICIPATION AGREEMENT (2011-1)

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     5.1.12 Section 1110

     Indenture Trustee is entitled to the benefits of Section 1110 (as currently in effect) with
respect to the right to take possession of the Airframe and Engines and to enforce any of its other
rights or remedies as provided in the Trust Indenture in the event of a case under Chapter 11 of
the Bankruptcy Code in which Owner is a debtor.

     5.1.13 Cape Town

     The Owner is a Transacting User Entity (as defined in the regulations of the International
Registry); is “situated”, for the purposes of the Cape Town Treaty, in the United States; and has
the power to “dispose” (as such term is used in the Cape Town Treaty) of the Airframe and each
Engine. The [Bills of Sale for the Airframe and Engines constitute a “contract of sale” (as
defined in the Cape Town Treaty), and the]15 Trust Indenture, as supplemented by the
Trust Indenture Supplement in which such Airframe and Engines are listed, creates an International
Interest in such Airframe and Engines. The Airframe and each Engine are “aircraft objects” (as
defined in the Cape Town Treaty); and the United States is a Contracting State under the Cape Town
Treaty.

     5.2 WTC’s Representations and Warranties

     WTC represents and warrants (with respect to Section 5.2.10, solely in its capacity as
Subordination Agent) to Owner that:

     5.2.1 Organization, Etc.

     WTC is a Delaware banking corporation duly organized, validly existing and in good standing
under the Laws of the State of Delaware, holding a valid certificate to do business as a Delaware
banking corporation with banking authority to execute and deliver, and perform its obligations
under, the Applicable Pass Through Trustee Agreements and the Operative Agreements to which it is a
party.

     5.2.2 Corporate Authorization

     WTC has taken, or caused to be taken, all necessary corporate action (including, without
limitation, the obtaining of any consent or approval of stockholders required by Law or by its
Certificate of Incorporation or By-Laws) to authorize the execution and delivery by WTC, in its
individual capacity or as Indenture Trustee, a Pass Through Trustee or Subordination Agent, as the
case may be, of the Pass Through Trustee Agreements and the Operative Agreements to which it is a
party and the performance of its obligations thereunder.

     5.2.3 No Violation

     The execution and delivery by WTC, in its individual capacity or as Indenture Trustee, a Pass
Through Trustee or Subordination Agent, as the case may be, of the Pass Through Trustee

 

			
	15	 	Insert for New Aircraft.

PARTICIPATION AGREEMENT (2011-1)

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Agreements
and the Operative Agreements to which it is a party, the performance by WTC, in its individual
capacity or as Indenture Trustee, a Pass Through Trustee or Subordination Agent, as the case may
be, of its obligations thereunder and the consummation on the Closing Date of the transactions
contemplated thereby, do not and will not (a) violate any provision of the Certificate of
Incorporation or By-Laws of WTC, (b) violate any Law applicable to or binding on WTC, in its
individual capacity or (except in the case of any Law relating to any Plan) as Indenture Trustee, a
Pass Through Trustee or Subordination Agent, or (c) violate or constitute any default under (other
than any violation or default that would not result in a Material Adverse Change to WTC, in its
individual capacity or Indenture Trustee, a Pass Through Trustee or Subordination Agent), or result
in the creation of any Lien (other than the Lien of the Trust Indenture) upon any property of WTC,
in its individual capacity or as Indenture Trustee, a Pass Through Trustee or Subordination Agent,
or any of WTC’s subsidiaries under, any indenture, mortgage, chattel mortgage, deed of trust,
conditional sales contract, lease, loan or other agreement, instrument or document to which WTC, in
its individual capacity or as Indenture Trustee, a Pass Through Trustee or Subordination Agent, is
a party or by which WTC, in its individual capacity or as Indenture Trustee, a Pass Through Trustee
or Subordination Agent, or any of their respective properties is bound.

     5.2.4 Approvals

     The execution and delivery by WTC, in its individual capacity or as Indenture Trustee, a Pass
Through Trustee or Subordination Agent, as the case may be, of the Pass Through Trustee Agreements
and the Operative Agreements to which it is a party, the performance by WTC, in its individual
capacity or as Indenture Trustee, a Pass Through Trustee or Subordination Agent, as the case may
be, of its obligations thereunder and the consummation on the Closing Date by WTC, in its
individual capacity or as Indenture Trustee, a Pass Through Trustee or Subordination Agent, as the
case may be, of the transactions contemplated thereby do not and will not require the consent,
approval or authorization of, or the giving of notice to, or the registration with, or the
recording or filing of any documents with, or the taking of any other action in respect of, (a) any
trustee or other holder of any Debt of WTC or (b) any Government Entity, other than the filing of
the FAA Filed Documents and the Financing Statements.

     5.2.5 Valid and Binding Agreements

     The Pass Through Trustee Agreements and the Operative Agreements to which it is a party have
been duly authorized, executed and delivered by WTC and, assuming the due authorization, execution
and delivery by the other party or parties thereto, constitute the legal, valid and binding
obligations of WTC, in its individual capacity or as Indenture Trustee, a Pass Through Trustee or
Subordination Agent, as the case may be, and are enforceable against WTC, in its individual
capacity or as Indenture Trustee, a Pass Through Trustee or Subordination Agent, as the case may
be, in accordance with the respective terms thereof, except as such enforceability may be limited
by bankruptcy, insolvency, reorganization, receivership, moratorium or other similar Laws affecting
the rights of creditors generally and general principles of equity, whether considered in a
proceeding at law or in equity.

PARTICIPATION AGREEMENT (2011-1)

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     5.2.6 Citizenship

     WTC is a Citizen of the United States.

     5.2.7 No Liens

     On the Closing Date, there are no Liens attributable to WTC in respect of all or any part of
the Collateral.

     5.2.8 Litigation

     There are no pending or, to the Actual Knowledge of WTC, threatened actions or proceedings
against WTC, in its individual capacity or as Indenture Trustee, a Pass Through Trustee or
Subordination Agent, before any court, administrative agency or tribunal which, if determined
adversely to WTC, in its individual capacity or as Indenture Trustee, a Pass Through Trustee or
Subordination Agent, as the case may be, would materially adversely affect the ability of WTC, in
its individual capacity or as Indenture Trustee, a Pass Through Trustee or Subordination Agent, as
the case may be, to perform its obligations under any of the Indenture Trustee Agreements, the Pass
Through Trustee Agreements or the Subordination Agent Agreements.

     5.2.9 Securities Laws

     Neither WTC nor any person authorized to act on its behalf has directly or indirectly offered
any beneficial interest or Security relating to the ownership of the Aircraft or any interest in
the Collateral or any of the Equipment Notes or any other interest in or security under the
Collateral for sale to, or solicited any offer to acquire any such interest or security from, or
has sold any such interest or security to, any Person other than the Subordination Agent and the
Pass Through Trustees, except for the offering and sale of the Pass Through Certificates.

     5.2.10 Investment

     The Equipment Notes to be acquired by the Subordination Agent are being acquired by it for the
account of the Applicable Pass Through Trustees, for investment and not with a view to
any resale or distribution thereof, except that, subject to the restrictions on transfer set
forth in Section 9, the disposition by it of its Equipment Notes shall at all times be within its
control.

     5.2.11 Taxes

     There are no Taxes payable by any Applicable Pass Through Trustee or WTC, as the case may be,
imposed by the State of Delaware or any political subdivision or taxing authority thereof in
connection with the execution, delivery and performance by such Pass Through Trustee or WTC, as the
case may be, of this Agreement or any of the Pass Through Trustee Agreements (other than franchise
or other taxes based on or measured by any fees or compensation received by any such Pass Through
Trustee or WTC, as the case may be, for services rendered in connection with the transactions
contemplated by any of the Pass Through Trust Agreements), and there are no Taxes payable by any
Applicable Pass Through Trustee or WTC, as the case may be, imposed by the State of Delaware or any
political subdivision thereof in connection with

PARTICIPATION AGREEMENT (2011-1)

13

 

the acquisition, possession or ownership by any
such Pass Through Trustee of any of the Equipment Notes (other than franchise or other taxes based
on or measured by any fees or compensation received by any such Pass Through Trustee or WTC, as the
case may be, for services rendered in connection with the transactions contemplated by any of the
Pass Through Trust Agreements), and, assuming that the trusts created by the Pass Through Trust
Agreements will not be taxable as corporations, but, rather, each will be characterized as a
grantor trust under subpart E, Part I of Subchapter J of the Code or as a partnership under
Subchapter K of the Code, such trusts will not be subject to any Taxes imposed by the State of
Delaware or any political subdivision thereof.

     5.2.12 Broker’s Fees

     No Person acting on behalf of WTC, in its individual capacity or as Indenture Trustee, any
Applicable Pass Through Trustee or Subordination Agent, is or will be entitled to any broker’s fee,
commission or finder’s fee in connection with the Transactions.

SECTION 6. COVENANTS, UNDERTAKINGS AND AGREEMENTS

     6.1 Covenants of Owner

     Owner covenants and agrees, at its own cost and expense, with Note Holder and Indenture
Trustee as follows:

     6.1.1 Corporate Existence; U.S. Air Carrier

     Owner shall at all times maintain its corporate existence, except as permitted by Section 4.07
of the Trust Indenture, and shall at all times remain a U.S. Air Carrier.

     6.1.2 Notice of Change of Location

     Owner will give Indenture Trustee timely written notice (but in any event within 30 days prior
to the expiration of the period of time specified under applicable Law to prevent lapse of
perfection) of any change in its location (as such term is used in Section 9-307 of the UCC)
or legal name and will promptly take any action required by Section 6.1.3(c) as a result of such
relocation.

     6.1.3 Certain Assurances

     (a) Owner shall duly execute, acknowledge and deliver, or shall cause to be executed,
acknowledged and delivered, all such further agreements, instruments, certificates or documents,
and shall do and cause to be done such further acts and things, in any case, as Indenture Trustee
shall reasonably request for accomplishing the purposes of this Agreement and the other Operative
Agreements, provided that any instrument or other document so executed by Owner
will not expand any obligations or limit any rights of Owner in respect of the transactions
contemplated by any Operative Agreement.

     (b) Owner shall promptly take such action with respect to the recording, filing, re-recording
and refiling of the Trust Indenture and any supplements thereto, including, without

PARTICIPATION AGREEMENT (2011-1)

14

 

limitation, the
initial Trust Indenture Supplement, as shall be necessary to continue the perfection and priority
of the Lien created by the Trust Indenture.

     (c) Owner, at its sole cost and expense, will cause the FAA Filed Documents, the Financing
Statements and all continuation statements (and any amendments necessitated by any combination,
consolidation or merger of the Owner, or any relocation of its chief executive office) in respect
of the Financing Statements to be prepared and, subject only to the execution and delivery thereof
by Indenture Trustee, duly and timely filed and recorded, or filed for recordation, to the extent
permitted under the Act (with respect to the FAA Filed Documents) or the UCC or similar law of any
other applicable jurisdiction (with respect to such other documents). Indenture Trustee, and not
Owner, shall be responsible for any amendments to the foregoing documents and filings, recordings
and registrations thereof necessitated in any such case by any combination, consolidation or merger
of Indenture Trustee or change in the Indenture Trustee’s name, status, jurisdiction of
organization or address.

     (d) If the Aircraft has been registered in a country other than the United States pursuant to
Section 4.02(e) of the Trust Indenture, Owner will furnish to Indenture Trustee annually after such
registration, commencing with the calendar year after such registration is effected, an opinion of
special counsel reasonably satisfactory to Indenture Trustee stating that, in the opinion of such
counsel, either that (i) such action has been taken with respect to the recording, filing,
rerecording and refiling of the Operative Agreements and any supplements and amendments thereto as
is necessary to establish, perfect and protect the Lien created by the Trust Indenture, reciting
the details of such actions, or (ii) no such action is necessary to maintain the perfection of such
Lien.

     6.1.4 Securities Laws

     Neither Owner nor any person authorized to act on its behalf will directly or indirectly offer
any beneficial interest or Security relating to the ownership of the Aircraft or any interest in
any of the Equipment Notes or any other interest in or security under the Trust Indenture, for sale
to, or solicit any offer to acquire any such interest or security from, or sell any such interest
or
security to, any person in violation of the Securities Act or applicable state or foreign
securities Laws.

     6.1.5. Notice of Lease

     Owner shall give to Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services
LLC business, a copy of any notice regarding a lease of the Aircraft required to be given to the
Indenture Trustee pursuant to clause (w) of the first sentence of the penultimate paragraph of
Section 4.02(b) of the Mortgage, at the time such notice is given to Indenture Trustee, if at such
time Standard & Poor’s is then rating the Pass Through Certificates.

     6.2 Covenants of WTC

     WTC in its individual capacity or as Indenture Trustee, each Applicable Pass Through Trustee
or Subordination Agent, as the case may be, covenants and agrees with Owner as follows:

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     6.2.1 Liens

     WTC (a) will not directly or indirectly create, incur, assume or suffer to exist any Lien
attributable to it on or with respect to all or any part of the Collateral or the Aircraft, (b)
will, at its own cost and expense, promptly take such action as may be necessary to discharge any
Lien attributable to WTC on all or any part of the Collateral or the Aircraft and (c) will
personally hold harmless and indemnify Owner, each Note Holder, each of their respective
Affiliates, successors and permitted assigns, and the Collateral from and against (i) any and all
Expenses, (ii) any reduction in the amount payable out of the Collateral, and (iii) any
interference with the possession, operation or other use of all or any part of the Aircraft,
imposed on, incurred by or asserted against any of the foregoing as a consequence of any such Lien.

     6.2.2 Securities Act

     WTC in its individual capacity or as Indenture Trustee, an Applicable Pass Through Trustee or
Subordination Agent, will not offer any beneficial interest or Security relating to the ownership
of the Aircraft or any interest in the Collateral, or any of the Equipment Notes or any other
interest in or security under the Trust Indenture for sale to, or solicit any offer to acquire any
such interest or security from, or sell any such interest or security to, any Person in violation
of the Securities Act or applicable state or foreign securities Laws, provided that the foregoing
shall not be deemed to impose on WTC any responsibility with respect to any such offer, sale or
solicitation by any other party hereto.

     6.2.3 Performance of Agreements

     WTC, in its individual capacity and as Indenture Trustee, an Applicable Pass Through Trustee
or Subordination Agent, as the case may be, shall perform its obligations under the Pass Through
Trustee Agreements and the Operative Agreements in accordance with the terms thereof.

     6.2.4 Withholding Taxes

     WTC shall indemnify (on an after-tax basis) and hold harmless Owner against any United States
withholding taxes (and related interest, penalties and additions to tax) as a result of the failure
by WTC to withhold on payments to any Note Holder if such Note Holder failed to provide to
Indenture Trustee necessary certificates or forms to substantiate the right to exemption from such
withholding tax.

     6.3 Covenants of Note Holders

     Each Note Holder (including Subordination Agent) as to itself only covenants and agrees with
Owner and Indenture Trustee as follows:

     6.3.1 Withholding Taxes

     Such Note Holder (if it is a Non-U.S. Person) agrees to indemnify (on an after-tax basis) and
hold harmless Owner and Indenture Trustee against any United States withholding taxes (and related
interest, penalties and additions to tax) as a result of the inaccuracy or invalidity of

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any
certificate or form provided by such Note Holder to Indenture Trustee in connection with such
withholding taxes. Any amount payable hereunder shall be paid within 30 days after receipt by a
Note Holder of a written demand therefor.

     6.3.2 Transfer; Compliance

     (a) Such Note Holder will (i) not transfer any Equipment Note or interest therein in violation
of the Securities Act or applicable state or foreign securities Law; provided, that the
foregoing provisions of this section shall not be deemed to impose on such Note Holder any
responsibility with respect to any such offer, sale or solicitation by any other party hereto, and
(ii) perform and comply with the obligations specified to be imposed on it (as a Note Holder) under
each of the Trust Indenture and the form of Equipment Note set forth in the Trust Indenture.

     (b) Except for the transfer of the interests of each Applicable Pass Through Trustee in the
Equipment Notes to the trustee of the Related Trust (as defined in each Applicable Pass Through
Trust Agreement) in accordance with the related Applicable Pass Through Trust Agreement, each Note
Holder will not sell, assign, convey, exchange or otherwise transfer any Equipment Note or any
interest in, or represented by, any Equipment Note (it being understood that this provision is not
applicable to the Pass Through Certificates) unless the proposed transferee thereof first provides
Owner with both of the following:

     (i) a written representation and covenant that either (a) no portion of the funds it
uses to purchase, acquire and hold such Equipment Note or interest directly or indirectly
constitutes, or may be deemed under the Code or ERISA or any rulings, regulations or court
decisions thereunder to constitute, the assets of any Plan or (b) the transfer, and
subsequent holding, of such Equipment Note or interest shall not involve or give rise to a
transaction that constitutes a prohibited transaction within the meaning of Section 406 of
ERISA or Section 4975(c)(1) of the Code involving Owner, a Pass
Through Trustee, the Subordination Agent or the proposed transferee (other than a
transaction that is exempted from the prohibitions of such sections by applicable provisions
of ERISA or the Code or administrative exemptions or regulations issued thereunder); and

     (ii) a written covenant that it will not transfer any Equipment Note or any interest
in, or represented by, any Equipment Note unless the subsequent transferee also makes the
representation described in clause (i) above and agrees to comply with this clause (ii).

     6.4 Agreements

     6.4.1 Quiet Enjoyment

     Each Applicable Pass Through Trustee, Subordination Agent, each Note Holder and Indenture
Trustee each agrees as to itself with Owner that, so long as no Event of Default shall have
occurred and be continuing, such Person shall not (and shall not permit any Affiliate or other
Person claiming by, through or under it to) interfere with Owner’s rights in accordance with the
Indenture to the quiet enjoyment, possession and use of the Aircraft.

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     6.4.2 Consents

     Each Pass Through Trustee, Subordination Agent and Indenture Trustee each covenants and
agrees, for the benefit of Owner, that it shall not unreasonably withhold its consent to any
consent or approval requested of it under the terms of any of the Operative Agreements which by its
terms is not to be unreasonably withheld.

     6.4.3 Insurance

     Each Pass Through Trustee, Subordination Agent, Indenture Trustee and each Note Holder each
agrees not to obtain or maintain insurance for its own account as permitted by Section 4.06 of the
Trust Indenture if such insurance would limit or otherwise adversely affect the coverage of any
insurance required to be obtained or maintained by Owner pursuant to Section 4.06 of the Trust
Indenture.

     6.4.4 Extent of Interest of Note Holders

     A Note Holder shall not, as such, have any further interest in, or other right with respect
to, the Collateral when and if the principal and Make-Whole Amount, if any, of and interest on the
Equipment Note held by such Holder, and all other sums, then due and payable to such Holder
hereunder and under any other Operative Agreement, shall have been paid in full. The preceding
sentence shall not limit the rights of the Related Note Holders with respect to Related Secured
Obligations under the Trust Indenture, provided that a Related Note Holder shall not, as
such, have any further interest in, or other right with respect to, the Collateral when and if the
Related Secured Obligations attributable to the Related Equipment Note held by such Holder shall
have been paid in full.

     6.4.5 Foreign Registration

     Each Note Holder and Indenture Trustee hereby agree, for the benefit of Owner but subject to
the provisions of Section 4.02(b) of the Trust Indenture:

     (a) that Owner shall be entitled to register the Aircraft or cause the Aircraft to be
registered in a country other than the United States subject to compliance with the following:

     (i) each of the following requirements is satisfied:

	 	(A)	 	no Special Default or Event of Default shall have occurred and
be continuing at the time of such registration;
	 
	 	(B)	 	such proposed change of registration is made in connection with
a Permitted Lease to a Permitted Air Carrier; and
	 
	 	(C)	 	such country is a country with which the United States then
maintains normal diplomatic relations or, if such country is Taiwan, the United
States then maintains diplomatic relations at least as good as those in effect
on the Closing Date; and

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     (ii) the Indenture Trustee shall have received an opinion of counsel (subject to
customary exceptions) reasonably satisfactory to the Indenture Trustee addressed to
Indenture Trustee to the effect that:

     (A) such country would recognize the Owner’s ownership interest in the
Aircraft;

     (B) after giving effect to such change in registration, the Lien of the Trust
Indenture on the Owner’s right, title and interest in and to the Aircraft shall
continue as a valid and duly perfected first priority security interest and
International Interest and all filing, recording or other action necessary to
protect the same shall have been accomplished (or, if such opinion cannot be given
at the time of such proposed change in registration because such change in
registration is not yet effective, (1) the opinion shall detail what filing,
recording or other action is necessary and (2) the Indenture Trustee shall have
received a certificate from Owner that all possible preparations to accomplish such
filing, recording and other action shall have been done, and such filing, recording
and other action shall be accomplished and a supplemental opinion to that effect
shall be delivered to the Indenture Trustee on or prior to the effective date of
such change in registration);

     (C) unless Owner or the Permitted Air Carrier shall have agreed to provide
insurance covering the risk of requisition of use of the Aircraft by the government
of such country (so long as the Aircraft is registered under the laws of such
country), the laws of such country require fair compensation by the government of
such country payable in currency freely convertible into Dollars and freely
removable from such country (without license or permit, unless Owner
prior to such proposed reregistration has obtained such license or permit) for
the taking or requisition by such government of such use; and

     (D) it is not necessary, solely as a consequence of such change in registration
and without giving effect to any other activity of the Indenture Trustee (or any
Affiliate of the Indenture Trustee), for the Indenture Trustee to qualify to do
business in such jurisdiction as a result of such reregistration in order to
exercise any rights or remedies with respect to the Aircraft.

     (b) In addition, as a condition precedent to any change in registration Owner shall have given
to Indenture Trustee assurances reasonably satisfactory to Indenture Trustee:

	 	(i)	 	to the effect that the provisions of Section 4.06 of the Trust
Indenture have been complied with after giving effect to such change of
registration;
	 
	 	(ii)	 	of the payment by Owner of all reasonable out-of-pocket
expenses of each Note Holder and Indenture Trustee in connection with such
change of registry, including, without limitation (1) the reasonable fees and
disbursements of counsel to Indenture Trustee, (2) any filing or recording

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	 	 	 	fees, Taxes or similar payments incurred in connection with the change of
registration of the Aircraft and the creation and perfection of the security
interest therein in favor of Indenture Trustee for the benefit of Note Holders,
and (3) all costs and expenses incurred in connection with any filings
necessary to continue in the United States the perfection of the security
interest in the Aircraft in favor of Indenture Trustee for the benefit of Note
Holders; and
	 
	 	(iii)	 	to the effect that the tax and other indemnities in favor of
each person named as an indemnitee under any other Operative Agreement afford
each such person substantially the same protection as provided prior to such
change of registration (or Owner shall have agreed upon additional indemnities
that, together with such original indemnities, in the reasonable judgment of
Indenture Trustee, afford such protection).

     6.4.6 Interest in Certain Engines

     Each Note Holder and Indenture Trustee agree, for the benefit of each of the lessor,
conditional seller, mortgagee or secured party of any airframe or engine leased to, or purchased
by, Owner or any Permitted Lessee subject to a lease, conditional sale, trust indenture or other
security agreement that it will not acquire or claim, as against such lessor, conditional seller,
mortgagee or secured party, any right, title or interest in any engine as the result of such engine
being installed on the Airframe at any time while such engine is subject to such lease, conditional
sale, trust indenture or other security agreement and owned by such lessor or conditional seller or
subject to a trust indenture or security interest in favor of such mortgagee or secured party.

SECTION 7. CONFIDENTIALITY

     Owner, Note Holders and Indenture Trustee shall keep the Participation Agreement and Annex B
to the Trust Indenture confidential and shall not disclose, or cause to be disclosed, the same to
any Person, except (A) to prospective and permitted transferees of Owner’s, a Note Holder’s, the
Liquidity Provider’s, Indenture Trustee’s or other Indenture Indemnitee’s interest or their
respective counsel or special counsel, independent insurance brokers, auditors, or other agents who
agree to hold such information confidential, (B) to Owner’s, a Note Holder’s, the Liquidity
Provider’s, a Pass Through Trustee’s, Indenture Trustee’s or other Indenture Indemnitee’s counsel
or special counsel, independent insurance brokers, auditors, or other agents, Affiliates or
investors who agree to hold such information confidential, (C) as may be required by any statute,
court or administrative order or decree, legal process or governmental ruling or regulation,
including those of any applicable insurance regulatory bodies (including, without limitation, the
National Association of Insurance Commissioners), federal or state banking examiners, Internal
Revenue Service auditors or any stock exchange, (D) with respect to a Note Holder or any Pass
Through Trustee, to a nationally recognized rating agency for the purpose of obtaining a rating on
the Equipment Notes or the Pass Through Certificates or to support an NAIC rating for the Equipment
Notes or (E) such other Persons as are reasonably deemed necessary by the disclosing party in order
to protect the interests of such party or for the purposes of enforcing such documents by such
party; provided, that any and all disclosures permitted by

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clauses (C), (D), or (E) above
shall be made only to the extent necessary to meet the specific requirements or needs of the
Persons making such disclosures.

SECTION 8. INDEMNIFICATION AND EXPENSES

     8.1 General Indemnity

     8.1.1 Indemnity

     Whether or not any of the transactions contemplated hereby are consummated, Owner shall
indemnify, protect, defend and hold harmless each Indemnitee from, against and in respect of, and
shall pay on a net after-tax basis, any and all Expenses of any kind or nature whatsoever that may
be imposed on, incurred by or asserted against any Indemnitee, relating to, resulting from, or
arising out of or in connection with, any one or more of the following:

     (a) The Operative Agreements, the Pass Through Agreements, or the enforcement of any of the
terms of any of the Operative Agreements or the Pass Through Agreements;

     (b) The Aircraft, the Airframe, any Engine or any Part, including, without limitation, with
respect thereto, (i) the manufacture, design, purchase, acceptance, nonacceptance or rejection,
ownership, registration, reregistration, deregistration, delivery, nondelivery, lease, sublease,
assignment, possession, use or non-use, operation, maintenance, testing, repair, overhaul,
condition, alteration, modification, addition, improvement, storage, airworthiness, replacement,
repair, sale, substitution, return, abandonment, redelivery or other disposition of the Aircraft,
any Engine or any Part, (ii) any claim or penalty arising out of violations of applicable
Laws by Owner (or any Permitted Lessee), (iii) tort liability, whether or not arising out of
the negligence of any Indemnitee (whether active, passive or imputed), (iv) death or property
damage of passengers, shippers or others, (v) environmental control, noise or pollution and (vi)
any Liens in respect of the Aircraft, any Engine or any Part;

     (c) The offer, sale, or delivery of any Equipment Notes, Pass Through Certificates or any
interest therein or represented thereby; and

     (d) Any breach of or failure to perform or observe, or any other noncompliance with, any
covenant or agreement or other obligation to be performed by Owner under any Operative Agreement to
which it is party or any Pass Through Agreement or the falsity of any representation or warranty of
Owner in any Operative Agreement to which it is party or any Pass Through Agreement.

     8.1.2 Exceptions

     Notwithstanding anything contained in Section 8.1.1, Owner shall not be required to indemnify,
protect, defend and hold harmless any Indemnitee pursuant to Section 8.1.1 in respect of any
Expense of such Indemnitee:

     (a) For any Taxes or a loss of Tax benefit, whether or not Owner is required to indemnify
therefor pursuant to Section 8.3;

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     (b) Except to the extent attributable to acts or events occurring prior thereto, acts or
events (other than acts or events related to the performance by Owner of its obligations pursuant
to the terms of the Operative Agreements) that occur after the Trust Indenture is required to be
terminated in accordance with Section 11.01 of the Trust Indenture; provided, that nothing
in this clause (b) shall be deemed to exclude or limit any claim that any Indemnitee may have under
applicable Law by reason of an Event of Default or for damages from Owner for breach of Owner’s
covenants contained in the Operative Agreements or to release Owner from any of its obligations
under the Operative Agreements that expressly provide for performance after termination of the
Trust Indenture;

     (c) To the extent attributable to any Transfer (voluntary or involuntary) by or on behalf of
such Indemnitee of any Equipment Note or interest therein, except for out-of-pocket costs and
expenses incurred as a result of any such Transfer pursuant to the exercise of remedies under any
Operative Agreement;

     (d) To the extent attributable to the gross negligence or willful misconduct of such
Indemnitee or any related Indemnitee (as defined below) (other than gross negligence or willful
misconduct imputed to such person by reason of its interest in the Aircraft or any Operative
Agreement);

     (e) To the extent attributable to the incorrectness or breach of any representation or
warranty of such Indemnitee or any related Indemnitee contained in or made pursuant to any
Operative Agreement or any Pass Through Agreement;

     (f) To the extent attributable to the failure by such Indemnitee or any related Indemnitee to
perform or observe any agreement, covenant or condition on its part to be performed or observed in
any Operative Agreement or any Pass Through Agreement;

     (g) To the extent attributable to the offer or sale by such Indemnitee or any related
Indemnitee of any interest in the Aircraft, the Equipment Notes, the Pass Through Certificates, or
any similar interest, in violation of the Securities Act or other applicable federal, state or
foreign securities Laws (other than any thereof caused by acts or omissions of Owner);

     (h) (i) With respect to any Indemnitee (other than Indenture Trustee), to the extent
attributable to the failure of the Indenture Trustee to distribute funds received and distributable
by it in accordance with the Trust Indenture, (ii) with respect to any Indemnitee (other than the
Subordination Agent), to the extent attributable to the failure of the Subordination Agent to
distribute funds received and distributable by it in accordance with the Intercreditor Agreement,
(iii) with respect to any Indemnitee (other than the Pass Through Trustees), to the extent
attributable to the failure of a Pass Through Trustee to distribute funds received and
distributable by it in accordance with the Pass Through Trust Agreements, (iv) with respect to any
Indemnitee (other than the Escrow Agent), to the extent attributable to the failure of the Escrow
Agent to pay funds received and payable by it in accordance with any Escrow Agreement, (v) with
respect to any Indemnitee (other than the Paying Agent), to the extent attributable to the failure
of the Paying Agent to distribute funds received and distributable by it in accordance with any
Escrow Agreement, (vi) to the extent attributable to the failure of the Depositary to pay funds
payable by it in accordance with any Deposit Agreement, (vii) with respect to Indenture Trustee, to
the

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extent attributable to the negligence or willful misconduct of Indenture Trustee in the
distribution of funds received and distributable by it in accordance with the Trust Indenture,
(viii) with respect to the Subordination Agent, to the extent attributable to the negligence or
willful misconduct of the Subordination Agent in the distribution of funds received and
distributable by it in accordance with the Intercreditor Agreement, (ix) with respect to the Pass
Through Trustees, to the extent attributable to the negligence or willful misconduct of a Pass
Through Trustee in the distribution of funds received and distributable by it in accordance with
the Pass Through Trust Agreements, (x) with respect to the Escrow Agent, to the extent attributable
to the negligence or willful misconduct of the Escrow Agent in the payment of funds received and
payable by it in accordance with any Escrow Agreement and (xi) with respect to the Paying Agent, to
the extent attributable to the negligence or willful misconduct of the Paying Agent in the
distribution of funds received and distributable by it in accordance with any Escrow Agreement;

     (i) Other than during the continuation of an Event of Default, to the extent attributable to
the authorization or giving or withholding of any future amendments, supplements, waivers or
consents with respect to any Operative Agreement or Pass Through Agreement other than such as have
been requested by Owner or as are required by or made pursuant to the terms of the Operative
Agreements or Pass Through Agreements (unless such requirement results from the actions of an
Indemnitee not required by or made pursuant to the Operative Agreements or the Pass Through
Agreements);

     (j) To the extent attributable to any amount which any Indemnitee expressly agrees to pay or
such Indemnitee expressly agrees shall not be paid by or be reimbursed by Owner;

     (k) To the extent that it is an ordinary and usual operating or overhead expense;

     (l) For any Lien attributable to such Indemnitee or any related Indemnitee;

     (m) If another provision of an Operative Agreement or a Pass Through Agreement specifies the
extent of Owner’s responsibility or obligation with respect to such Expense, to the extent arising
from other than failure of Owner to comply with such specified responsibility or obligation; or

     (n) To the extent incurred by or asserted against an Indemnitee as a result of any “prohibited
transaction”, within the meaning of Section 406 of ERISA or Section 4975(c)(1) of the Code.

     For purposes of this Section 8.1, a Person shall be considered a “related” Indemnitee with
respect to an Indemnitee if such Person is an Affiliate or employer of such Indemnitee, a director,
officer, employee, agent, or servant of such Indemnitee or any such Affiliate or a successor or
permitted assignee of any of the foregoing.

     8.1.3 Separate Agreement

     This Agreement constitutes a separate agreement with respect to each Indemnitee and is
enforceable directly by each such Indemnitee.

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     8.1.4 Notice

     If a claim for any Expense that an Indemnitee shall be indemnified against under this Section
8.1 is made, such Indemnitee shall give prompt written notice thereof to Owner. Notwithstanding
the foregoing, the failure of any Indemnitee to notify Owner as provided in this Section 8.1.4, or
in Section 8.1.5, shall not release Owner from any of its obligations to indemnify such Indemnitee
hereunder, except to the extent that such failure results in an additional Expense to Owner (in
which event Owner shall not be responsible for such additional expense) or materially impairs
Owner’s ability to contest such claim.

     8.1.5 Notice of Proceedings; Defense of Claims; Limitations

     (a) In case any action, suit or proceeding shall be brought against any Indemnitee for which
Owner is responsible under this Section 8.1, such Indemnitee shall notify Owner of the commencement
thereof and Owner may, at its expense, participate in and to the extent that it shall wish (subject
to the provisions of the following paragraph), assume and control the defense thereof and, subject
to Section 8.1.5(c), settle or compromise the same.

     (b) Owner or its insurer(s) shall have the right, at its or their expense, to investigate or,
if Owner or its insurer(s) shall agree not to dispute liability to the Indemnitee giving notice of
such action, suit or proceeding under this Section 8.1.5 for indemnification hereunder or under any
insurance policies pursuant to which coverage is sought, control the defense of, any action, suit
or proceeding, relating to any Expense for which indemnification is sought pursuant to this Section
8.1, and each Indemnitee shall cooperate with Owner or its insurer(s) with respect thereto;
provided, that Owner shall not be entitled to control the defense of any such action, suit,
proceeding or compromise any such Expense during the continuance of any Event of Default. In
connection with any such action, suit or proceeding being controlled by Owner, such Indemnitee
shall have the right to participate therein, at its sole cost and expense, with counsel reasonably
satisfactory to Owner; provided, that such Indemnitee’s participation does not, in the
reasonable opinion of the independent counsel appointed by the Owner or its insurers to conduct
such proceedings, interfere with the defense of such case.

     (c) In no event shall any Indemnitee enter into a settlement or other compromise with respect
to any Expense without the prior written consent of Owner, which consent shall not be unreasonably
withheld or delayed, unless such Indemnitee waives its right to be indemnified with respect to such
Expense under this Section 8.1.

     (d) In the case of any Expense indemnified by the Owner hereunder which is covered by a policy
of insurance maintained by Owner pursuant to Section 4.06 of the Indenture, at Owner’s expense,
each Indemnitee agrees to cooperate with the insurers in the exercise of their rights to
investigate, defend or compromise such Expense as may be required to retain the benefits of such
insurance with respect to such Expense.

     (e) If an Indemnitee is not a party to this Agreement, Owner may require such Indemnitee to
agree in writing to the terms of this Section 8 and Section 12.8 prior to making any payment to
such Indemnitee under this Section 8.

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     (f) Nothing contained in this Section 8.1.5 shall be deemed to require an Indemnitee to
contest any Expense or to assume responsibility for or control of any judicial proceeding with
respect thereto.

     8.1.6 Information

     Owner will provide the relevant Indemnitee with such information not within the control of
such Indemnitee, as is in Owner’s control or is reasonably available to Owner, which such
Indemnitee may reasonably request and will otherwise cooperate with such Indemnitee so as to enable
such Indemnitee to fulfill its obligations under Section 8.1.5. The Indemnitee shall supply Owner
with such information not within the control of Owner, as is in such Indemnitee’s control or is
reasonably available to such Indemnitee, which Owner may reasonably request to control or
participate in any proceeding to the extent permitted by Section 8.1.5.

     8.1.7 Effect of Other Indemnities; Subrogation; Further
Assurances

     Upon the payment in full by Owner of any indemnity provided for under this Agreement, Owner,
without any further action and to the full extent permitted by Law, will be subrogated to all
rights and remedies of the person indemnified (other than in connection with any indemnity claim
such Indemnitee may have under Section 6.03 or 8.01 of the Trust Indenture) in respect of the
matter as to which such indemnity was paid. Each Indemnitee will give such further assurances or
agreements and cooperate with Owner to permit Owner to pursue such claims, if any, to the extent
reasonably requested by Owner and at Owner’s expense.

     8.1.8 Refunds

     If an Indemnitee receives any refund, in whole or in part, with respect to any Expense paid by
Owner hereunder, it will promptly pay the amount refunded (but not an amount in excess of the
amount Owner or any of its insurers has paid in respect of such Expense) over to Owner unless an
Event of Default shall have occurred and be continuing, in which case such amounts shall be paid
over to Indenture Trustee to hold as security for Owner’s obligations under the Operative
Agreements or, if requested by Owner, applied to satisfy such obligations.

     8.2 Expenses

     8.2.1 Invoices and Payment

     The Indenture Trustee, the Applicable Pass Through Trustees and the Subordination Agent shall
promptly submit to Owner for its prompt approval (which shall not be unreasonably withheld) copies
of invoices in reasonable detail of the Transaction Expenses for which it is responsible for
providing information as they are received (but in no event later than the 90th day after the
Closing Date). If so submitted and approved, the Owner agrees promptly, but in any event no later
than the 105th day after the Closing Date, to pay Transaction Expenses.

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     8.2.2 Payment of Other Expenses

     Owner shall pay (i) the ongoing fees and expenses of Indenture Trustee, and (ii) all
reasonable out-of-pocket costs and expenses (including the reasonable fees and disbursements of
counsel) incurred by Indenture Trustee or any Note Holder attributable to any waiver, amendment or
modification of any Operative Agreement to the extent requested by Owner.

     8.3 General Tax Indemnity

     8.3.1 General

     Except as provided in Section 8.3.2, Owner agrees that each payment paid by Owner under the
Equipment Notes, and any other payment or indemnity paid by Owner to a Tax Indemnitee under any
Operative Agreement, shall be free of all withholdings or deductions with respect to Taxes of any
nature (other than U.S. federal, state or local withholding taxes on, based on or measured by gross
or net income), and in the event that Owner shall be required by applicable law to make any such
withholding or deduction for any such payment (x) Owner shall make all such withholdings or
deductions, (y) the amount payable by Owner shall be increased so that after making all required
withholdings or deductions such Tax Indemnitee receives the same amount that it would have received
had no such withholdings or deductions been made, and (z) Owner shall pay the full amount withheld
or deducted to the relevant Taxing Authority in accordance with applicable law. Except as provided
in Section 8.3.2 and whether or not any of the transactions contemplated hereby are consummated,
Owner shall pay, indemnify, protect, defend and hold each Tax Indemnitee harmless from all Taxes
imposed by any Taxing Authority that may from time to time be imposed on or asserted against any
Tax Indemnitee or the Aircraft, the Airframe, any Engine or any Part or any interest in any of the
foregoing (whether or not indemnified against by any other Person), upon or with respect to the
Operative Agreements or the transactions or payments contemplated thereby, including but not
limited to any Tax imposed
upon or with respect to (x) the Aircraft, the Airframe, any Engine, any Part, any Operative
Agreement (including without limitation any Equipment Notes) or any data or any other thing
delivered or to be delivered under an Operative Agreement, (y) the purchase, manufacture,
acceptance, rejection, sale, transfer of title, return, ownership, mortgaging, delivery, transport,
charter, rental, lease, re-lease, sublease, assignment, possession, repossession, presence, use,
condition, storage, preparation, maintenance, modification, alteration, improvement, operation,
registration, transfer or change of registration, reregistration, repair, replacement, overhaul,
location, control, the imposition of any Lien, financing, refinancing requested by the Owner,
abandonment or other disposition of the Aircraft, the Airframe, any Engine, any Part, any data or
any other thing delivered or to be delivered under an Operative Agreement or (z) interest, fees or
any other income, proceeds, receipts or earnings, whether actual or deemed, arising upon, in
connection with, or in respect of, any of the Operative Agreements (including the property or
income or other proceeds with respect to property held as part of the Collateral) or the
transactions contemplated thereby.

     8.3.2 Certain Exceptions

     The provisions of Section 8.3.1 shall not apply to, and Owner shall have no liability
hereunder for, Taxes:

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     (a) imposed on a Tax Indemnitee by the federal government of the United States or any
Taxing Authority or governmental subdivision of the United States or therein (including any state
or local Taxing Authority) (i) on, based on, or measured by, gross or net income or gross or net
receipts, including capital gains taxes, excess profits taxes, minimum taxes from tax preferences,
alternative minimum taxes, branch profits taxes, accumulated earnings taxes, personal holding
company taxes, succession taxes and estate taxes, and any withholding taxes on, based on or
measured by gross or net income or receipts or (ii) on, or with respect to, or measured by, capital
or net worth or in the nature of a franchise tax or a tax for the privilege of doing business
(other than, in the case of clause (i) or (ii), sales, use, license or property Taxes);

     (b) imposed on a Tax Indemnitee by any Taxing Authority or governmental subdivision thereof or
therein outside of the United States (including any Taxing Authority in or of a territory,
possession or commonwealth of the United States) (i) on, based on, or measured by, gross or net
income or gross or net receipts, including capital gains taxes, excess profits taxes, minimum taxes
from tax preferences, alternative minimum taxes, branch profits taxes, accumulated earnings taxes,
personal holding company taxes, succession taxes and estate taxes, and any withholding taxes on,
based on or measured by gross or net income or receipts or (ii) on, or with respect to, or measured
by, capital or net worth or in the nature of a franchise tax or a tax for the privilege of doing
business (other than, in the case of clause (i) or (ii), (A) sales, use, license or property Taxes,
or (B) any Taxes imposed by any Taxing Authority (other than a Taxing Authority within whose
jurisdiction such Tax Indemnitee is incorporated or organized or maintains its principal place of
business) if such Tax Indemnitee would not have been subject to Taxes of such type by such
jurisdiction but for (I) the location, use or operation of the Aircraft, the Airframe, any Engine
or any Part thereof by an Owner Person within the jurisdiction of the Taxing Authority imposing
such Tax, or (II) the activities of any Owner Person in such jurisdiction, including, but not
limited to, use of any other aircraft by Owner in such jurisdiction, (III) the status of any Owner
Person as a foreign entity or as an entity owned in whole or in part by foreign persons, (IV) Owner
having made (or having been deemed to have made) payments to such Tax Indemnitee from the relevant
jurisdiction or (V) in the case of the Pass Through Trustees, the Note Holders or any related Tax
Indemnitee, the Owner being incorporated or organized or maintaining a place of business or
conducting activities in such jurisdiction);

     (c) on, or with respect to, or measured by, any trustee fees, commissions or compensation
received by the Pass Through Trustee, Subordination Agent or Indenture Trustee;

     (d) that are being contested as provided in Section 8.3.4 hereof;

     (e) imposed on any Tax Indemnitee to the extent that such Taxes result from the gross
negligence or willful misconduct of such Tax Indemnitee or any Affiliate thereof;

     (f) imposed on or with respect to a Tax Indemnitee (including the transferee in those cases in
which the Tax on transfer is imposed on, or is collected from, the transferee) as a result of a
transfer or other disposition (including a deemed transfer or disposition) by such Tax Indemnitee
or a related Tax Indemnitee of any interest in the Aircraft, the Airframe, any Engine or any Part,
any interest arising under the Operative Agreements or any Equipment Note or as a result of a
transfer or disposition (including a deemed transfer or disposition) of any interest in a
Tax Indemnitee (other than (A) a substitution or replacement of the Aircraft, the Airframe,
any

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Engine or any Part by an Owner Person that is treated for Tax purposes as a transfer or
disposition, or (B) a transfer pursuant to an exercise of remedies upon an Event of Default that
shall have occurred and have been continuing);

     (g) Taxes in excess of those that would have been imposed had there not been a transfer or
other disposition by or to such Tax Indemnitee or a related Tax Indemnitee described in paragraph
(f) above;

     (h) consisting of any interest, penalties or additions to tax imposed on a Tax Indemnitee as a
result of (in whole or in part) failure of such Tax Indemnitee or a related Tax Indemnitee to file
any return properly and timely, unless such failure shall be caused by the failure of Owner to
fulfill its obligations, if any, under Section 8.3.6 with respect to such return;

     (i) resulting from, or that would not have been imposed but for, any Liens arising as a result
of claims against, or acts or omissions of, or otherwise attributable to such Tax Indemnitee or a
related Tax Indemnitee that the Owner is not obligated to discharge under the Operative Agreements;

     (j) imposed on any Tax Indemnitee as a result of the breach by such Tax Indemnitee or a
related Tax Indemnitee of any covenant of such Tax Indemnitee or any Affiliate thereof contained in
any Operative Agreement or the inaccuracy of any representation or warranty by such Tax Indemnitee
or any Affiliate thereof in any Operative Agreement;

     (k) in the nature of an intangible or similar Tax (i) upon or with respect to the value or
principal amount of the interest of any Note Holder in any Equipment Note or the loan evidenced
thereby but only if such Taxes are in the nature of franchise Taxes or result from the Tax
Indemnitee doing business in the taxing jurisdiction and are imposed because of the place of
incorporation or the activities unrelated to the transactions contemplated by the Operative
Agreements in the taxing jurisdiction of such Tax Indemnitee;

     (l) imposed on a Tax Indemnitee by a Taxing Authority of a jurisdiction outside the United
States to the extent that such Taxes would not have been imposed but for a connection between the
Tax Indemnitee or a related Tax Indemnitee and such jurisdiction imposing such Tax unrelated to the
transactions contemplated by the Operative Agreements; or

     (m) Taxes relating to ERISA or Section 4975 of the Code.

     For purposes hereof, a Tax Indemnitee and any other Tax Indemnitees that are successors,
assigns, agents, servants or Affiliates of such Tax Indemnitee shall be related Tax Indemnitees.

8.3.3 Payment

     (a) Owner’s indemnity obligation to a Tax Indemnitee under this Section 8.3 shall equal the
amount which, after taking into account any Tax imposed upon the receipt or accrual of the amounts
payable under this Section 8.3 and any tax benefits actually recognized by such Tax Indemnitee as a
result of the indemnifiable Tax (including, without limitation, any benefits
recognized as a result of an indemnifiable Tax being utilized by such Tax Indemnitee as a
credit

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against Taxes not indemnifiable under this Section 8.3), shall equal the amount of the Tax
indemnifiable under this Section 8.3.

     (b) At Owner’s request, the computation of the amount of any indemnity payment owed by Owner
or any amount owed by a Tax Indemnitee to Owner pursuant to this Section 8.3 shall be verified and
certified by an independent public accounting firm selected by such Tax Indemnitee and reasonably
satisfactory to Owner. Such verification shall be binding. The costs of such verification
(including the fee of such public accounting firm) shall be borne by Owner unless such verification
shall result in an adjustment in Owner’s favor of 5% or more of the net present value of the
payment as computed by such Tax Indemnitee, in which case the costs shall be paid by such Tax
Indemnitee.

     (c) Each Tax Indemnitee shall provide Owner with such certifications, information and
documentation as shall be in such Tax Indemnitee’s possession and as shall be reasonably requested
by Owner to minimize any indemnity payment pursuant to this Section 8.3; provided, that
notwithstanding anything to the contrary contained herein, no Tax Indemnitee shall be required to
provide Owner with any Tax returns.

     (d) Each Tax Indemnitee shall promptly forward to Owner any written notice, bill or advice
received by it from any Taxing Authority concerning any Tax for which it seeks indemnification
under this Section 8.3. Owner shall pay any amount for which it is liable pursuant to this Section
8.3 directly to the appropriate Taxing Authority if legally permissible or upon demand of a Tax
Indemnitee, to such Tax Indemnitee within 30 days of such demand (or, if a contest occurs in
accordance with Section 8.3.4, within 30 days after a Final Determination (as defined below)), but
in no event more than one Business Day prior to the date the Tax to which such amount payable
hereunder relates is due. If requested by a Tax Indemnitee in writing, Owner shall furnish to the
appropriate Tax Indemnitee the original or a certified copy of a receipt for Owner’s payment of any
Tax paid by Owner or such other evidence of payment of such Tax as is acceptable to such Tax
Indemnitee. Owner shall also furnish promptly upon written request such data as any Tax Indemnitee
may reasonably require to enable such Tax Indemnitee to comply with the requirements of any taxing
jurisdiction unless such data is not reasonably available to Owner or, unless such data is
specifically requested by a Taxing Authority, is not customarily furnished by domestic air carriers
under similar circumstances. For purposes of this Section 8.3, a “Final Determination” shall mean
(i) a decision, judgment, decree or other order by any court of competent jurisdiction that occurs
pursuant to the provisions of Section 8.3.4, which decision, judgment, decree or other order has
become final and unappealable, (ii) a closing agreement or settlement agreement entered into in
accordance with Section 8.3.4 that has become binding and is not subject to further review or
appeal (absent fraud, misrepresentation, etc.), or (iii) the termination of administrative
proceedings and the expiration of the time for instituting a claim in a court proceeding.

     (e) If any Tax Indemnitee shall actually realize a tax savings by reason of any Tax paid or
indemnified by Owner pursuant to this Section 8.3 (whether such tax savings shall be by means of a
foreign tax credit, depreciation or cost recovery deduction or otherwise) and such savings is not
otherwise taken into account in computing such payment or indemnity such Tax Indemnitee shall pay
to Owner an amount equal to the lesser of (i) the amount of such tax
savings, plus any additional tax savings recognized as the result of any payment made pursuant

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to this sentence, when, as, if, and to the extent, realized or (ii) the amount of all payments
pursuant to this Section 8.3 by Owner to such Tax Indemnitee (less any payments previously made by
such Tax Indemnitee to Owner pursuant to this Section 8.3.3 (e)) (and the excess, if any, of the
amount described in clause (i) over the amount described in clause (ii) shall be carried forward
and applied to reduce pro tanto any subsequent obligations of Owner to make payments to such Tax
Indemnitee pursuant to this Section 8.3); provided, that such Tax Indemnitee shall not be required
to make any payment pursuant to this sentence so long as a Lease Event of Default of a monetary
nature has occurred and is continuing. If a tax benefit is later disallowed or denied, the
disallowance or denial shall be treated as a Tax indemnifiable under Section 8.3.1 without regard
to the provisions of Section 8.3.2 (other than Section 8.3.2 (f)). Each such Tax Indemnitee shall
in good faith use reasonable efforts in filing its tax returns and in dealing with Taxing
Authorities to seek and claim any such tax benefit.

8.3.4 Contest

     (a) If a written claim is made against a Tax Indemnitee for Taxes with respect to which Owner
could be liable for payment or indemnity hereunder, or if a Tax Indemnitee makes a determination
that a Tax is due for which Owner could have an indemnity obligation hereunder, such Tax Indemnitee
shall promptly give Owner notice in writing of such claim (provided, that failure to so notify
Owner shall not relieve Owner of its indemnity obligations hereunder unless such failure to notify
effectively forecloses Owner’s rights to require a contest of such claim) and shall take no action
with respect to such claim without the prior written consent of Owner for 30 days following the
receipt of such notice by Owner; provided, that, in the case of a claim made against a Tax
Indemnitee, if such Tax Indemnitee shall be required by law to take action prior to the end of such
30-day period, such Tax Indemnitee shall, in such notice to Owner, so inform Owner, and such Tax
Indemnitee shall take no action for as long as it is legally able to do so (it being understood
that a Tax Indemnitee shall be entitled to pay the Tax claimed and sue for a refund prior to the
end of such 30-day period if (i)(A) the failure to so pay the Tax would result in substantial
penalties (unless immediately reimbursed by Owner) and the act of paying the Tax would not
materially prejudice the right to contest or (B) the failure to so pay would result in criminal
penalties and (ii) such Tax Indemnitee shall take any action so required in connection with so
paying the Tax in a manner that is the least prejudicial to the pursuit of the contest). In
addition, such Tax Indemnitee shall (provided, that Owner shall have agreed to keep such
information confidential other than to the extent necessary in order to contest the claim) furnish
Owner with copies of any requests for information from any Taxing Authority relating to such Taxes
with respect to which Owner may be required to indemnify hereunder. If requested by Owner in
writing within 30 days after its receipt of such notice, such Tax Indemnitee shall, at the expense
of Owner (including, without limitation, all reasonable costs, expenses and reasonable attorneys’
and accountants’ fees and disbursements), in good faith contest (or, if permitted by applicable
law, allow Owner to contest) through appropriate administrative and judicial proceedings the
validity, applicability or amount of such Taxes by (I) resisting payment thereof, (II) not paying
the same except under protest if protest is necessary and proper or (III) if the payment is made,
using reasonable efforts to obtain a refund thereof in an appropriate administrative and/or
judicial proceeding. If requested to do so by Owner, the Tax Indemnitee shall appeal any adverse
administrative or judicial decision, except that the Tax Indemnitee shall not be required to pursue
any appeals to the United States Supreme Court. If
and to the extent the Tax Indemnitee is able to separate the contested issue or issues from
other

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issues arising in the same administrative or judicial proceeding that are unrelated to the
transactions contemplated by the Operative Agreements without, in the good faith judgment of such
Tax Indemnitee, adversely affecting such Tax Indemnitee, such Tax Indemnitee shall permit Owner to
control the conduct of any such proceeding and shall provide to Owner (at Owner’s cost and expense)
with such information or data that is in such Tax Indemnitee’s control or possession that is
reasonably necessary to conduct such contest. In the case of a contest controlled by a Tax
Indemnitee, such Tax Indemnitee shall consult with Owner in good faith regarding the manner of
contesting such claim and shall keep Owner reasonably informed regarding the progress of such
contest. A Tax Indemnitee shall not fail to take any action expressly required by this Section
8.3.4 (including, without limitation, any action regarding any appeal of an adverse determination
with respect to any claim) or settle or compromise any claim without the prior written consent of
the Owner (except as contemplated by Section 8.3.4(b) or (c)).

     (b) Notwithstanding the foregoing, in no event shall a Tax Indemnitee be required to pursue
any contest (or to permit Owner to pursue any contest) unless (i) Owner shall have agreed to pay
such Tax Indemnitee on demand all reasonable costs and expenses incurred by such Tax Indemnitee in
connection with contesting such Taxes, including, without limitation, all reasonable out of pocket
costs and expenses and reasonable attorneys’ and accountants’ fees and disbursements, (ii) if such
contest shall involve the payment of the claim, Owner shall advance the amount thereof (to the
extent indemnified hereunder) plus interest, penalties and additions to tax with respect thereto
that are required to be paid prior to the commencement of such contest on an interest-free
after-Tax basis to such Tax Indemnitee (and such Tax Indemnitee shall promptly pay to the Owner any
net realized tax benefits resulting from such advance including any tax benefits resulting from
making such payment), (iii) such Tax Indemnitee shall have reasonably determined that the action to
be taken will not result in any material risk of forfeiture, sale or loss of the Aircraft (unless
Owner shall have made provisions to protect the interests of any such Tax Indemnitee in a manner
reasonably satisfactory to such Tax Indemnitee) (provided, that such Tax Indemnitee agrees to
notify Owner in writing promptly after it becomes aware of any such risk), (iv) no Lease Event of
Default shall have occurred and be continuing unless Owner has provided security for its
obligations hereunder by advancing to such Tax Indemnitee before proceeding or continuing with such
contest, the amount of the Tax being contested, plus any interest and penalties and an amount
estimated in good faith by such Tax Indemnitee for expenses, and (v) prior to commencing any
judicial action controlled by Owner, Owner shall have acknowledged its liability for such claim
hereunder, provided that Owner shall not be bound by its acknowledgment if the Final Determination
articulates conclusions of law and fact that demonstrate that Owner has no liability for the
contested amounts hereunder. Notwithstanding the foregoing, if any Tax Indemnitee shall release,
waive, compromise or settle any claim which may be indemnifiable by Owner pursuant to this Section
8.3 without the written permission of Owner, Owner’s obligation to indemnify such Tax Indemnitee
with respect to such claim (and all directly related claims and claims based on the outcome of such
claim) shall terminate, subject to Section 8.3.4(c), and subject to Section 8.3.4(c), such Tax
Indemnitee shall repay to Owner any amount previously paid or advanced to such Tax Indemnitee with
respect to such claim, plus interest at the rate that would have been payable by the relevant
Taxing Authority with respect to a refund of such Tax.

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     (c) Notwithstanding anything contained in this Section 8.3, a Tax Indemnitee will not be
required to contest the imposition of any Tax and shall be permitted to settle or compromise any
claim without Owner’s consent if such Tax Indemnitee (i) shall waive its right to indemnity under
this Section 8.3 with respect to such Tax (and any directly related claim and any claim the outcome
of which is determined based upon the outcome of such claim), (ii) shall pay to Owner any amount
previously paid or advanced by Owner pursuant to this Section 8.3 with respect to such Tax, plus
interest at the rate that would have been payable by the relevant Taxing Authority with respect to
a refund of such Tax, and (iii) shall agree to discuss with Owner the views or positions of any
relevant Taxing Authority with respect to the imposition of such Tax.

8.3.5 Refund

     If any Tax Indemnitee shall receive a refund of, or be entitled to a credit against other
liability for, all or any part of any Taxes paid, reimbursed or advanced by Owner, such Tax
Indemnitee shall pay to Owner within 30 days of such receipt an amount equal to the lesser of (a)
the amount of such refund or credit plus any net tax benefit (taking into account any Taxes
incurred by such Tax Indemnitee by reason of the receipt of such refund or realization of such
credit) actually realized by such Tax Indemnitee as a result of any payment by such Tax Indemnitee
made pursuant to this sentence (including this clause (a)) and (b) such tax payment, reimbursement
or advance by Owner to such Tax Indemnitee theretofore made pursuant to this Section 8.3 (and the
excess, if any, of the amount described in clause (a) over the amount described in clause (b) shall
be carried forward and applied to reduce pro tanto any subsequent obligation of Owner to make
payments to such Tax Indemnitee pursuant to this Section 8.3). If, in addition to such refund or
credit, such Tax Indemnitee shall receive (or be credited with) an amount representing interest on
the amount of such refund or credit, such Tax Indemnitee shall pay to Owner within 30 days of such
receipt or realization of such credit that proportion of such interest that shall be fairly
attributable to Taxes paid, reimbursed or advanced by Owner prior to the receipt of such refund or
realization of such credit.

8.3.6 Tax Filing

     If any report, return or statement is required to be filed with respect to any Tax which is
subject to indemnification under this Section 8.3, Owner shall timely file the same (except for any
such report, return or statement which a Tax Indemnitee has timely notified the Owner in writing
that such Tax Indemnitee intends to file, or for which such Tax Indemnitee is required by law to
file, in its own name); provided, that the relevant Tax Indemnitee shall furnish Owner with any
information in such Tax Indemnitee’s possession or control that is reasonably necessary to file any
such return, report or statement and is reasonably requested in writing by Owner (it being
understood that the Tax Indemnitee shall not be required to furnish copies of its actual tax
returns, although it may be required to furnish relevant information contained therein). Owner
shall either file such report, return or statement and send a copy of such report, return or
statement to such Tax Indemnitee, or, where Owner is not permitted to file such report, return or
statement, it shall notify such Tax Indemnitee of such requirement and prepare and deliver such
report, return or statement to such Tax Indemnitee in a manner satisfactory to such Tax Indemnitee
within a reasonable time prior to the time such report, return or statement is to be filed.

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8.3.7 Forms

     Each Tax Indemnitee agrees to furnish from time to time to Owner or Indenture Trustee or to
such other person as Owner or Indenture Trustee may designate, at Owner’s or Indenture Trustee’s
request, such duly executed and properly completed forms as may be necessary or appropriate in
order to claim any reduction of or exemption from any withholding or other Tax imposed by any
Taxing Authority, if (x) such reduction or exemption is available to such Tax Indemnitee and (y)
Owner has provided such Tax Indemnitee with any information necessary to complete such form not
otherwise reasonably available to such Tax Indemnitee.

8.3.8 Non-Parties

     If a Tax Indemnitee is not a party to this Agreement, Owner may require the Tax Indemnitee to
agree in writing, in a form reasonably acceptable to Owner, to the terms of this Section 8.3 and
Section 15.8 prior to making any payment to such Tax Indemnitee under this Section 8.3.

8.3.9 Subrogation

     Upon payment of any Tax by Owner pursuant to this Section 8.3 to or on behalf of a Tax
Indemnitee, Owner, without any further action, shall be subrogated to any claims that such Tax
Indemnitee may have relating thereto. Such Tax Indemnitee shall cooperate with Owner (to the
extent such cooperation does not result in any unreimbursed cost, expense or liability to such Tax
Indemnitee) to permit Owner to pursue such claims.

     8.4 Payments

     Any payments made pursuant to Section 8.1 or 8.3 shall be due on the 60th day after demand
therefor and shall be made directly to the relevant Indemnitee or Tax Indemnitee or to Owner, in
immediately available funds at such bank or to such account as specified by such Indemnitee or Tax
Indemnitee or Owner, as the case may be, in written directives to the payor, or, if no such
direction shall have been given, by check of the payor payable to the order of, and mailed to, such
Indemnitee or Tax Indemnitee or Owner, as the case may be, by certified mail, postage prepaid, at
its address as set forth in this Agreement.

     8.5 Interest

     If any amount, payable by Owner, any Indemnitee or any Tax Indemnitee under Section 8.1 or 8.3
is not paid when due, the person obligated to make such payment shall pay on demand, to the extent
permitted by Law, to the person entitled thereto, interest on any such amount for the period from
and including the due date for such amount to but excluding the date the same is paid, at the
Payment Due Rate. Such interest shall be paid in the same manner as the unpaid amount in respect
of which such interest is due.

     8.6 Benefit of Indemnities

     The obligations of Owner in respect of all indemnities, obligations, adjustments and payments
in Section 8.1 or 8.3 are expressly made for the benefit of, and shall be enforceable by,

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the Indemnitee or Tax Indemnitee entitled thereto, notwithstanding any provision of the Trust
Indenture.

SECTION 9. ASSIGNMENT OR TRANSFER OF INTEREST

     9.1 Note Holders

     Subject to Section 6.3.2 hereof and Section 2.06 of the Trust Indenture, any Note Holder may,
at any time and from time to time, Transfer or grant participations in all or any portion of the
Equipment Notes and/or all or any portion of its beneficial interest in its Equipment Notes to any
person (it being understood that the sale or issuance of Pass Through Certificates by a Pass
Through Trustee shall not be considered a Transfer or participation); provided, that any
participant in any such participations shall not have any direct rights under the Operative
Agreements or any Lien on all or any part of the Aircraft or the Collateral and Owner shall not
have any increased liability or obligations as a result of any such participation. In the case of
any such Transfer, the Transferee, by acceptance of Equipment Notes in connection with such
Transfer, shall be deemed to be bound by (i) all of the covenants of Note Holders contained in the
Operative Agreements and (ii) certain terms of the Intercreditor Agreement as specified in such
Equipment Notes and/or Section 2.06 of the Trust Indenture.

     9.2 Effect of Transfer

     Upon any Transfer in accordance with Section 9.1 (other than any Transfer by any Note Holder,
to the extent it only grants participations in Equipment Notes or in its beneficial interest
therein), Transferee shall be deemed a “Note Holder,” for all purposes of this Agreement and the
other Operative Agreements, and the transferring Note Holder shall be released from all of its
liabilities and obligations under this Agreement and any other Operative Agreements to the extent
such liabilities and obligations arise after such Transfer and, in each case, to the extent such
liabilities and obligations are assumed by the Transferee; provided, that such transferring
Note Holder (and its respective Affiliates, successors, assigns, agents, servants, representatives,
directors and officers) will continue to have the benefit of any rights or indemnities under any
Operative Agreement vested or relating to circumstances, conditions, acts or events prior to such
Transfer.

SECTION 10. SECTION 1110

     It is the intention of each of the Owner, the Note Holders (such intention being evidenced by
each of their acceptance of an Equipment Note), and Indenture Trustee that Indenture Trustee shall
be entitled to the benefits of Section 1110 in the event of a case under Chapter 11 of the
Bankruptcy Code in which Owner is a debtor.

SECTION 11. CHANGE OF CITIZENSHIP

     11.1 Generally

     Without prejudice to the representations, warranties or covenants regarding the status of any
party hereto as a Citizen of the United States, each of Owner, WTC and Indenture Trustee agrees
that it will, immediately upon obtaining knowledge of any facts that would cast doubt

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upon its
continuing status as a Citizen of the United States and promptly upon public disclosure of
negotiations in respect of any transaction which would or might adversely affect such status,
notify in writing all parties hereto of all relevant matters in connection therewith.

     11.2 Indenture Trustee

     Upon WTC giving any notice in accordance with Section 11.1, Indenture Trustee shall (if and so
long as such citizenship is necessary under the Act as in effect at such time or, if it is not
necessary, if and so long as Indenture Trustee’s citizenship could have any adverse effect on
Owner, or any Note Holder), subject to Section 9.02 of the Trust Indenture, resign as Indenture
Trustee promptly upon its ceasing to be such a citizen.

SECTION 12. MISCELLANEOUS

     12.1 Amendments

     No provision of this Agreement may be amended, supplemented, waived, modified, discharged,
terminated or otherwise varied orally, but only by an instrument in writing that specifically
identifies the provision of this Agreement that it purports to amend, supplement, waive, modify,
discharge, terminate or otherwise vary and is signed by the party against which the enforcement of
the amendment, supplement, waiver, modification, discharge, termination or variance is sought.
Each such amendment, supplement, waiver, modification, discharge, termination or variance shall be
effective only in the specific instance and for the specific purpose for which it is given. No
provision of this Agreement shall be varied or contradicted by oral communication, course of
dealing or performance or other manner not set forth in an agreement, document or instrument in
writing and signed by the party against which enforcement of the same is sought.

     12.2 Severability

     If any provision hereof shall be held invalid, illegal or unenforceable in any respect in any
jurisdiction, then, to the extent permitted by Law, (a) all other provisions hereof shall remain in
full force and effect in such jurisdiction and (b) such invalidity, illegality or unenforceability
shall not affect the validity, legality or enforceability of such provision in any other
jurisdiction. If, however, any Law pursuant to which such provisions are held invalid, illegal or
unenforceable may be waived, such Law is hereby waived by the parties hereto to the full extent
permitted, to the end that this Agreement shall be deemed to be a valid and binding agreement in
all respects, enforceable in accordance with its terms.

     12.3 Survival

     The indemnities set forth herein shall survive the delivery or return of the Aircraft, the
Transfer of any interest by any Note Holder of its Equipment Note and the expiration or other
termination of this Agreement or any other Operative Agreement.

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     12.4 Reproduction of Documents

     This Agreement, all schedules and exhibits hereto and all agreements, instruments and
documents relating hereto, including, without limitation, (a) consents, waivers and modifications
that may hereafter be executed and (b) financial statements, certificates and other information
previously or hereafter furnished to any party hereto, may be reproduced by such party by any
photographic, photostatic, microfilm, micro-card, miniature photographic or other similar process,
and such party may destroy any original documents so reproduced. Any such reproduction shall be as
admissible in evidence as the original itself in any judicial or administrative proceeding (whether
or not the original is in existence and whether or not such reproduction was made by such party in
the regular course of business) and any enlargement, facsimile or further reproduction of such
reproduction likewise is admissible in evidence.

     12.5 Counterparts

     This Agreement and any amendments, waivers, consents or supplements hereto may be executed in
any number of counterparts (or upon separate signature pages bound together into one or more
counterparts), each of which when so executed shall be deemed to be an original, and all of which
counterparts, taken together, shall constitute one and the same instrument.

     12.6 No Waiver

     No failure on the part of any party hereto to exercise, and no delay by any party hereto in
exercising, any of its respective rights, powers, remedies or privileges under this Agreement or
provided at Law, in equity or otherwise shall impair, prejudice or constitute a waiver of any such
right, power, remedy or privilege or be construed as a waiver of any breach hereof or default
hereunder or as an acquiescence therein nor shall any single or partial exercise of any such right,
power, remedy or privilege preclude any other or further exercise thereof by it or the exercise of
any other right, power, remedy or privilege by it. No notice to or demand on any party hereto in
any case shall, unless otherwise required under this Agreement, entitle such party to any other or
further notice or demand in similar or other circumstances or constitute a waiver of the rights of
any party hereto to any other or further action in any circumstances without notice or demand.

     12.7 Notices

     Unless otherwise expressly permitted by the terms hereof, all notices, requests, demands,
authorizations, directions, consents, waivers and other communications required or permitted to be
made, given, furnished or filed hereunder shall be in writing (it being understood that the
specification of a writing in certain instances and not in others does not imply an intention that
a writing is not required as to the latter), shall refer specifically to this Agreement or other
applicable Operative Agreement, and shall be personally delivered, sent by facsimile or
telecommunication transmission (which in either case provides written confirmation to the
sender of its delivery), sent by registered mail or certified mail, return receipt requested,
postage prepaid, or sent by overnight courier service, in each case to the respective address, or
facsimile number set forth for such party in Schedule 1, or to such other address, facsimile or
other number as each party hereto may hereafter specify by notice to the other parties hereto.
Each such notice, request, demand, authorization, direction, consent, waiver or other communication
shall

PARTICIPATION AGREEMENT (2011-1)

36

 

be effective when received or, if made, given, furnished or filed (a) by facsimile or
telecommunication transmission, when confirmed, or (b) by registered or certified mail, three
Business Days after being deposited, properly addressed, with the U.S. Postal Service.

     12.8 GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE

     (a) THIS AGREEMENT SHALL IN ALL RESPECTS BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK,
INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE. THIS AGREEMENT IS BEING DELIVERED
IN THE STATE OF NEW YORK.

     (b) EACH PARTY HERETO HEREBY IRREVOCABLY AGREES, ACCEPTS AND SUBMITS ITSELF TO THE
NON-EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN THE CITY AND COUNTY OF NEW
YORK AND OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, IN CONNECTION WITH ANY LEGAL
ACTION, SUIT OR PROCEEDING WITH RESPECT TO ANY MATTER RELATING TO OR ARISING OUT OF OR IN
CONNECTION WITH THIS AGREEMENT.

     (c) EACH PARTY HERETO HEREBY IRREVOCABLY CONSENTS AND AGREES TO THE SERVICE OF ANY AND ALL
LEGAL PROCESS, SUMMONS, NOTICES AND DOCUMENTS OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH SUIT,
ACTION OR PROCEEDING MAY BE MADE BY MAILING COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE
PREPAID, AT THE ADDRESS SET FORTH PURSUANT TO SECTION 12.7. EACH PARTY HERETO HEREBY AGREES THAT
SERVICE UPON IT, OR ANY OF ITS AGENTS, IN EACH CASE IN ACCORDANCE WITH THIS SECTION 12.8(c), SHALL
CONSTITUTE VALID AND EFFECTIVE PERSONAL SERVICE UPON SUCH PARTY, AND EACH PARTY HERETO HEREBY
AGREES THAT THE FAILURE OF ANY OF ITS AGENTS TO GIVE ANY NOTICE OF SUCH SERVICE TO ANY SUCH PARTY
SHALL NOT IMPAIR OR AFFECT IN ANY WAY THE VALIDITY OF SUCH SERVICE ON SUCH PARTY OR ANY JUDGMENT
RENDERED IN ANY ACTION OR PROCEEDING BASED THEREON.

     (d) EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LAW,
AND AGREES NOT TO ASSERT, BY WAY OF MOTION, AS A DEFENSE, OR OTHERWISE, IN ANY LEGAL ACTION OR
PROCEEDING BROUGHT HEREUNDER IN ANY OF THE ABOVE-NAMED COURTS, THAT SUCH ACTION OR PROCEEDING IS
BROUGHT IN AN
INCONVENIENT FORUM, THAT VENUE FOR THE ACTION OR PROCEEDING IS IMPROPER OR THAT THIS AGREEMENT
OR ANY OTHER OPERATIVE AGREEMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS.

     (e) EACH PARTY HERETO HEREBY WAIVES ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR
CAUSE OF ACTION IN ANY COURT IN ANY JURISDICTION BASED UPON OR ARISING OUT OF OR RELATING TO THIS
AGREEMENT.

PARTICIPATION AGREEMENT (2011-1)

37

 

     12.9 Third-Party Beneficiary

     This Agreement is not intended to, and shall not, provide any person not a party hereto (other
than the Indenture Indemnitees (including the Related Note Holders), each of which is an intended
third party beneficiary with respect to the provisions of Section 8.1 (and, in the case of the Tax
Indemnitees, Section 8.3) and the persons referred to in Section 6.4.6, which are intended third
party beneficiaries with respect to such Section) with any rights of any nature whatsoever against
any of the parties hereto and no person not a party hereto (other than the Indenture Indemnitees
(including the Related Note Holders), with respect to the provisions of Section 8.1 (and, in the
case of the Tax Indemnitees, Section 8.3), and the persons referred to in Section 6.4.6 with
respect to the provisions of such Section) shall have any right, power or privilege in respect of
any party hereto, or have any benefit or interest, arising out of this Agreement.

     12.10 Entire Agreement

     This Agreement, together with the other Operative Agreements, on and as of the date hereof,
constitutes the entire agreement of the parties hereto with respect to the subject matter hereof,
and all prior or contemporaneous understandings or agreements, whether written or oral, among any
of the parties hereto with respect to such subject matter are hereby superseded in their
entireties.

     12.11 Further Assurances

     Each party hereto shall execute, acknowledge and deliver or shall cause to be executed,
acknowledged and delivered, all such further agreements, instruments, certificates or documents,
and shall do and cause to be done such further acts and things, in any case, as any other party
hereto shall reasonably request in connection with the administration of, or to carry out more
effectually the purposes of, or to better assure and confirm into such other party the rights and
benefits to be provided under this Agreement and the other Operative Agreements.

[This space intentionally left blank]

PARTICIPATION AGREEMENT (2011-1)

38

 

     IN WITNESS WHEREOF, each of the parties has caused this Participation Agreement to be duly
executed and delivered as of the day and year first above written.

	 	 	 	 	 	 	 

	 	 	US AIRWAYS, INC.,

      Owner	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	 
 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	WILMINGTON TRUST COMPANY,	 	 
	 

	 	 	 	not in its individual capacity, except as

expressly provided herein, but solely as Indenture

Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	 
 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	WILMINGTON TRUST COMPANY,	 	 
	 

	 	 	 	not in its individual capacity, except as

expressly provided herein, but solely as Pass

Through Trustee under the Pass Through Trust

Agreement for the US Airways Pass Through Trust,

2011-1A-O	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

			
	 	 	 
	PARTICIPATION AGREEMENT (2011-1)
	 	SIGNATURE PAGE

 

 

	 	 	 	 	 	 	 

	 	 	WILMINGTON TRUST COMPANY,	 	 
	 

	 	 	 	not in its individual capacity, except as

expressly provided herein, but solely as Pass

Through Trustee under the Pass Through Trust

Agreement for the US Airways Pass Through Trust,

2011-1B-O	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	 
 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	WILMINGTON TRUST COMPANY,	 	 
	 

	 	 	 	not in its individual capacity, except as

expressly provided herein, but solely as Pass

Through Trustee under the Pass Through Trust

Agreement for the US Airways Pass Through Trust,

2011-1C-O	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	 
 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	WILMINGTON TRUST COMPANY,	 	 
	 

	 	 	 	not in its individual capacity, except as

expressly provided herein, but solely as

Subordination Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	 
 

Name:
	 	 
	 

	 	 	 	Title:	 	 

			
	 	 	 
	PARTICIPATION AGREEMENT (2011-1)
	 	SIGNATURE PAGE

 

 

					
	 	 	 	 	SCHEDULE 1 — ACCOUNTS;
	 	 	 	 	ADDRESSES
	 	 	 	 	PARTICIPATION AGREEMENT [  ]

ACCOUNTS; ADDRESSES

	 	 	 	 	 
	 	 	Account for Payments	 	Address for Notices
	US Airways, Inc.

	 	US Airways, Inc.

JP Morgan Chase- New York, NY

Account No.: 708038021

ABA#: 021-000-021

Attention: Simon Little

Voice: 480-693-2822

Facsimile: 480-693-8953

Reference: US Airways 2011-1 EETC
	 	US Airways, Inc.

111 West Rio Salado Parkway 

Tempe, Arizona 85281

Attention: Vice President and Treasurer

Facsimile: (480) 693-5886

with
a copy to: Deputy General Counsel

Facsimile: (480) 693-5932

	 
	 	 	 	 
	Wilmington Trust Company, Indenture 

Trustee

	 	Wilmington Trust Company

Wilmington, Delaware 19890

Account No.: [___]

ABA#: 031100092

Attention: Corporate Trust Administration

Reference: US Airways 2011-1
	 	Wilmington Trust Company

1100 North Market Street

Wilmington, Delaware 19890-1605

Attention: Corporate Trust

Administration

Facsimile: (302) 636-4140
	 
	 	 	 	 
	Wilmington Trust Company, as 

Subordination Agent

	 	Wilmington Trust Company

Wilmington, Delaware 19890

Account No.: [___]

ABA#: 031100092

Attention: Corporate Trust Administration

Reference: US Airways 2011-1
	 	Wilmington Trust Company 

1100 North Market Street

Wilmington, Delaware 19890-1605

Attention: Corporate Trust

Administration

Facsimile: (302) 636-4140
	 
	 	 	 	 
	Wilmington Trust Company, as Pass 

Through Trustee for the 2011-1A Pass 

Through Trust

	 	Wilmington Trust Company

Wilmington, Delaware 19890

Account No.: [___]

ABA#: 031100092

Attention: Corporate Trust Administration

Reference: US Airways 2011-1
	 	Wilmington Trust Company 

1100 North Market Street

Wilmington, Delaware 19890-1605

Attention: Corporate Trust

Administration

Facsimile: (302) 636-4140
	 
	 	 	 	 
	Wilmington Trust Company, as Pass 

Through Trustee for the 2011-1B Pass 

Through Trust

	 	Wilmington Trust Company

Wilmington, Delaware 19890

Account No.: [___]

ABA#: 031100092

Attention: Corporate Trust Administration

Reference: US Airways 2011-1
	 	Wilmington Trust Company

1100 North Market Street

Wilmington, Delaware 19890-1605

Attention: Corporate Trust

Administration

Facsimile: (302) 636-4140

SCHEDULE 1 TO PARTICIPATION AGREEMENT (2011-1)

1

 

					
	 	 	 	 	SCHEDULE 2 — COMMITMENTS
	 	 	 	 	PARTICIPATION AGREEMENT [  ]

	 	 	 	 	 
	 	 	Account for Payments	 	Address for Notices
	Wilmington Trust Company, as Pass 

Through Trustee for the 2011-1C Pass 

Through Trust

	 	Wilmington Trust Company

Wilmington, Delaware 19890

Account No.: [___]

ABA#: 031100092

Attention: Corporate Trust Administration

Reference: US Airways 2011-1
	 	Wilmington Trust Company

1100 North Market Street

Wilmington, Delaware 19890-1605

Attention: Corporate Trust

Administration

Facsimile: (302) 636-4140

COMMITMENTS

	 	 	 	 	 
	 	 	Series of	 	Dollar Amount
	Pass Through Trustee	 	Equipment Notes	 	of Loan
	2011-1A

	 	Series A	 	 
	2011-1B

	 	Series B	 	 
	2011-1C

	 	Series C	 	 

SCHEDULE 2 TO PARTICIPATION AGREEMENT (2011-1)

1

 

					
	 	 	 	 	SCHEDULE 3 — CERTAIN TERMS
	 	 	 	 	PARTICIPATION AGREEMENT [  ]

CERTAIN TERMS

	 	 	 	 	 
	Defined Term	 	Definition	 
	Minimum Liability Insurance Amount
	 	$	500,000,000	 
	 
	Threshold Amount
	 	$	5,000,000	 

SCHEDULE 3 TO PARTICIPATION AGREEMENT (2011-1)

1

 

PERMITTED COUNTRIES

	 	 	 

	Argentina

	 	Luxembourg
	Australia

	 	Malaysia
	Austria

	 	Malta
	Bahamas

	 	Mexico
	Belgium

	 	Morocco
	Bolivia

	 	Netherlands
	Brazil

	 	Netherlands Antilles
	Canada

	 	New Zealand
	Chile

	 	Norway
	Colombia

	 	Panama
	Czech Republic

	 	People’s Republic of China
	Denmark

	 	Peru
	Egypt

	 	Philippines
	Ecuador

	 	Poland
	Finland

	 	Portugal
	France

	 	Republic of China (Taiwan)
	Germany

	 	Russia
	Greece

	 	Singapore
	Guatemala

	 	South Africa
	Hungary

	 	South Korea
	Iceland

	 	Spain
	India

	 	Sweden
	Indonesia

	 	Switzerland
	Ireland

	 	Thailand
	Italy

	 	Trinidad and Tobago
	Jamaica

	 	Turkey
	Japan

	 	United Kingdom
	Jordan

	 	Uruguay
	Kuwait

	 	Venezuela

SCHEDULE 4 TO PARTICIPATION AGREEMENT (2011-1)

1

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