Document:

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                                                                    EXHIBIT 10.2

                   SECONDARY MARKETING AND SERVICES AGREEMENT

     This Secondary Marketing and Services Agreement ("Agreement") is made as of
April 19th, 2006 (the "Effective Date") by and between ebank Mortgage, LLC, a
Georgia limited liability company ("EBM") that is a subsidiary of ebank, a
federally chartered thrift, and Sunshine Mortgage Corporation, a Georgia
corporation ("SMC").

     WHEREAS, EBM is in the business of originating loans secured by residential
real estate ("Loans") for resale in the secondary market;

     WHEREAS, SMC is engaged in the business of originating mortgages,
warehousing mortgages pending sale and in performing related mortgage services
and desires to assist EBM;

     WHEREAS, EBM wishes to retain the services of SMC to perform various
services related to the origination of mortgage loans (the "Operations
Services") and to assist EBM in the sale of its mortgage loans in the secondary
market (the "Secondary Marketing Services");

     NOW, THEREFORE, in consideration of the premises and other good and
valuable consideration, the receipt and sufficiency of which is hereby expressly
acknowledged, the parties, intending to be legally bound, agree as follows:

     1.   Summary of Services

          a.   SMC's secondary marketing will make pricing available to the
               internet via pre-approved spreads to EBM. It will lock loans to
               various pre-approved investors such as Wells Fargo, Chase, Bear
               Stearns, Wachovia, HSBC, Thornberg, etc.

          b.   SMC's warehouse department will manage the flow of documents from
               the closing back to EBM, then to the warehouse lender. The SMC
               shipping department will oversee the subsequent funding by the
               warehouse lender to the investor. SMC will also provide EBM with
               a loan by loan accounting of the gain/loss on each loan as well
               as a summary of activity. SMC will also arrange for the temporary
               servicing of each loan with Dovenmuehle Mortgage, Inc. ("DMI")
               under a servicing agreement between DMI and EBM.

          c.   EBM will utilize the service of SMC's Document Control and Audit
               departments. The Document Control department will track the final
               Recorded Documents and Title Policy and their delivery to the
               investor. The Quality Control Department will perform those post
               closing quality control audit functions required by Fannie Mae
               and Freddie Mac that promote the soundness and safety of the
               loans that EBM originates.

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          d.   EBM will pay SMC a fee for each closed loan, which shall
               initially be $450 per loan, as determined through arms-length
               negotiations and based on market rates for such services.

     2.   Operations Services

          SMC will perform the following Operations Services consistent with
          EBM's policies and directions:

          a.   SMC will provide EBM an on-line pricing and product software
               system ("Mortgage Lock System"), via SMC's loan origination
               system ("Empower"), and an interest rate lock desk ("Lock Desk")
               which will accept, decline, hedge, sell and otherwise monitor
               forward loan locks on behalf of EBM, consistent with EBM's
               policies and directions and its systems of internal controls and
               such systems will be integrated with EBM's systems and controls.
               All duties required to "ship" loans to investors consistent with
               the terms of agreements between EBM and investors.

          b.   SMC, via Empower, will provide real time accounting of EBM's
               pipeline and hedge position and will inform EBM of pending rate
               lock expirations.

          c.   Perform due diligence reviews of closed loan packages and work
               with the closing agent to promptly correct any errors.

          d.   SMC shall make its loan origination system (Empower) available to
               EBM for use by EBM employees.

          e.   EBM's records in Empower shall not be available to any SMC
               employee except those employees and records required to perform
               the services specified in this agreement, and only for purposes
               of providing services to EBM hereunder.

          f.   SMC will perform "Quality Control" services on behalf of EBM as
               outlined in Exhibit B.

          g.   SMC will deliver the Quality Control report described in Exhibit
               B to EBM, with a copy to ebank.

          h.   SMC will collect Home Mortgage Disclosure Act ("HMDA") data on
               each loan entered into Empower and provide a monthly report to
               EBM and ebank consistent with the requirements of applicable
               regulatory authorities.

          i.   SMC will coordinate the correction of loan file deficiencies so
               that Loans are saleable in the secondary market.

          j.   SMC will track the receipt of each title policy and deed on each
               loan.

     3.   Secondary Marketing Services.

          SMC shall perform the following Secondary Marketing Services on behalf
          of EBM.

          a.   All duties required to "ship" loans to investors consistent with
               the terms of agreements between EBM and investors.

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          b.   SMC will assist in the development of products and investor
               relationships for EBM.

          c.   All duties required of EBM to "warehouse" loans prior to the sale
               in the secondary market consistent with EBM's agreements with its
               lenders.

          d.   SMC will assist EBM in executing loan sales on EBM's behalf and
               according to EBM's policies.

          e.   On each business day, SMC will provide EBM with a written report
               of mortgage loan commitments entered into on each day, including
               the following information on each loan:

                    -    mortgage loan amount;

                    -    interest rate;

                    -    type of proposed mortgage loan;

                    -    mortgage investor;

                    -    commitment expiration date, if applicable; and

                    -    any other relevant information.

          f.   SMC will provide a reconciliation of each Loan Sale to ensure
               that funds are accounted for properly and will provide a loan by
               loan and a consolidated report of sold loans to EBM daily.

          g.   SMC will track the receipt of each title policy and deed on each
               loan and deliver the same to the investor to which the loan was
               sold.

          h.   SMC will propose investor incentives deals for EBM's
               consideration.

     4.   Services Generally

          In providing services to EBM, SMC shall use the same care and skill as
          it uses in providing such services for SMC's own account. SMC will,
          during the Term of this Agreement, devote so much of its working time
          to the benefit of EBM as is commercially reasonable to fulfill its
          duties hereunder and to accomplish the intended purposes of this
          Agreement.

     5.   Duties of EBM

          During the Term of this Agreement, EBM will perform the following
          duties:

          a.   EBM will promptly inform SMC of any communication received from
               mortgage investors, regulatory agencies, or other relevant
               organizations that adversely affects SMC's or EBM's ability to
               perform their respective duties hereunder or which adversely
               affects EBM's or ebank's business, financial condition, results
               of operations or compliance with laws or regulations or
               agreements with third parties referred to herein, including,
               without limitation, borrowers and lenders.

          b.   EBM will determine and provide to SMC the interest rate lock,
               extension and renegotiation policies by which SMC's Lock Desk
               will abide in the management of EBM's mortgage loan pipeline.

          c.   EBM will provide SMC a written report which details all of EBM's
               mortgage investor relationships and contracts; and provide to SMC
               in writing any additional or subsequent investor relationships or
               contracts.

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          d.   EBM will execute and grant to SMC a Limited Power of Attorney to
               perform certain of the services that SMC provides hereunder as
               contemplated in this agreement.

          e.   EBM will provide SMC with EBM's Secondary Marketing and
               Procedures and Policy, attached hereto as Exhibit A and as the
               same may be changed by EBM from time to time and in effect, the
               terms of which shall be followed by SMC.

          f.   EBM will notify SMC of any changes in its Secondary Marketing
               Procedures and Policy prior to implementation.

     6.   Service Standards of SMC. The service standards for SMC are set forth
          in Exhibit B hereto.

     7.   Compensation.The parties have agreed, after a review of comparable
          market costs and through arms-length negotiations, that EBM shall
          compensate SMC in the amount of $450 for each closed loan. EBM shall
          pay SMC by the 30th of each month on loans closed the prior month.

     8.   Term and Termination. This Agreement shall commence on the Effective
          Date and shall continue for a term ("Term") of twelve (12) months.
          This Agreement shall automatically renew for subsequent twelve month
          periods unless and until one party gives notice to the other sixty
          (60) days before the end of the Term of its election to terminate this
          agreement. Notwithstanding the foregoing, either party may terminate
          this Agreement with ninety (90) days written notice to the other
          party. In any event, upon request of the Office of Thrift Supervision
          ("OTS") or ebank, this Agreement may be terminated immediately upon
          reasonable notice and without penalty to EBM should ebank become a
          "troubled" institution or is otherwise required by the OTS to
          terminate the Agreement, or upon receipt of notice of a change in
          control of SMC. In the event of termination or non-renewal, the
          parties shall cooperate to provide for an orderly transition or
          winding down of the services provided by SMC and to transfer all
          documents, records, and information to SMC's successor or as directed
          by EBM.

     9.   Representations and Warranties of EBM.

          a.   EBM is duly organized, validly existing and in good standing as a
               limited liability company under the laws of the State of Georgia
               and is duly qualified to transact business is or will be in
               compliance with the laws of each jurisdiction in which EBM does
               business, except where such qualification is not required or
               where the failure to be so qualified or remain in good standing
               would not have a material adverse effect on the enforceability,
               collectability, value or marketability of any Mortgage Loan or on
               the financial condition, results of operations or business
               ("Material Adverse Effect") of EBM or EBM's ability to perform
               its obligations hereunder.

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          b.   EBM has or will have the full power and authority to execute,
               deliver and perform its obligations under this Agreement and to
               enter into and consummate all transactions contemplated by this
               Agreement, pending regulatory approval, and has duly executed and
               delivered this Agreement, and assuming the due authorization,
               execution and delivery by SMC, this Agreement constitutes a
               legal, valid and binding obligation of EBM, enforceable against
               it in accordance with its terms, except as enforceability may be
               limited by bankruptcy, insolvence, reorganization or other
               similar laws affecting the enforcement of creditor's rights
               generally and by general principles of equity, regardless of
               whether such enforcement is considered in a proceeding in equity
               or law (the "Bankruptcy and Equity Exception").

          c.   The transaction contemplated by this Agreement and the
               performance of its obligations hereunder are in the ordinary
               course of EBM's business and have been duly authorized by all
               necessary corporate action.

          d.   Neither the execution and delivery of this Agreement, nor the
               consummation of the transactions contemplated hereby, nor the
               fulfillment of or compliance with the terms and conditions of
               this Agreement, will conflict with or result in a breach of any
               of the terms, conditions or provisions of EBM's Articles of
               Organization or Operating Agreement or any indenture, agreement
               or instrument to which EBM is now a party or by which it is
               bound, or constitute a default (whether with notice, lapse of
               time or both) or result in an acceleration under any of the
               foregoing, or result in the violation of any law to which EBM or
               its property is subject.

          e.   EBM can perform each and every covenant and agreement of EBM
               contained in this Agreement, and based upon its reasonable
               inquiry and diligent investigation, EBM does not believe, nor
               does it have notice, knowledge or any reason or cause to believe,
               that it cannot or will not perform each and every covenant and
               agreement of or by EBM in this Agreement.

          f.   There is no litigation or other proceedings pending against EBM,
               or, to EBM's knowledge, threatened, which seeks to enjoin or
               prohibit the execution, delivery, or enforceability of this
               Agreement, or which questions EBM's authority to perform its
               obligations hereunder in accordance with the terms hereof,or
               which is likely to have a material adverse effect on the
               financial condition of EBM.

          g.   No consent, approval, authorization or order of any Agency, other
               than the Office of Thrift Supervision and the FDIC, is required
               by the execution, delivery and performance by EBM of, or
               compliance by EBM with, this

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               Agreement or the consummation of the transactions contemplated by
               this Agreement.

     10.  Representations and Warranties of SMC.

          a.   SMC is duly organized, validly existing and in good standing as a
               corporation under the laws of the State of Georgia and is duly
               qualified to transact business is or will be in compliance with
               the laws of each jurisdiction in which SMC does business, except
               where such qualification is not required or where the failure to
               be so qualified or remain in good standing would not have a
               Material Adverse Effect upon SMC or SMC's ability to perform its
               obligations hereunder.

          b.   SMC has or will have the full power and authority to execute,
               deliver and perform its obligations, including but not limited to
               the license of Empower, under this Agreement and to enter into
               and consummate all transactions contemplated by this Agreement,
               pending regulatory approval, and has duly executed and delivered
               this Agreement, and assuming the due authorization, execution and
               delivery by EBM, this Agreement constitutes a legal, valid and
               binding obligation of SMC, enforceable against it in accordance
               with its terms, except as enforceability may be limited by the
               Bankruptcy and Equity Exception.

          c.   The transaction contemplated by this Agreement and the
               performance of its obligations hereunder are in the ordinary
               course of SMC's business and have been duly authorized by all
               necessary corporate action.

          d.   In the conduct of its services hereunder, SMC will comply with
               all applicable laws, including but not limited to the Bank
               Secrecy Act ("BSA") and Gramm-Leach Bliley Act ("GLBA") and will
               not take any actions that would constitute or lead to violations
               of law by EBM or ebank. SMC acknowledges its provision of
               services hereunder will be subject to OTS oversight and review.

          e.   Neither the execution and delivery of this Agreement, nor the
               consummation of the transactions contemplated hereby, nor the
               fulfillment of or compliance with the terms and conditions of
               this Agreement, will conflict with or result in a breach of any
               of the terms, conditions or provisions of SMC's articles or
               bylaws or any indenture, agreement or instrument to which SMC is
               now a party or by which it is bound, or constitute a default
               (whether with notice, lapse of time or both) or result in an
               acceleration under any of the foregoing, or result in the
               violation of any law to which SMC or its property is subject.

          f.   SMC can perform each and every covenant and agreement of SMC
               contained in this Agreement, and based upon its reasonable
               inquiry and

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               diligent investigation, SMC does not believe, nor does it have
               notice, knowledge or any reason or cause to believe, that it
               cannot or will not perform each and every covenant and agreement
               of or by SMC in this Agreement.

          g.   There is no litigation or other proceedings pending against SMC,
               or, to SMC's knowledge, threatened, which seeks to enjoin or
               prohibit the execution, delivery, or enforceability of this
               Agreement, or which questions SMC's authority to perform its
               obligations hereunder in accordance with the terms hereof, or
               which is likely to have a material adverse effect on the
               financial condition of SMC.

          h.   No consent, approval, authorization or order of any Agency is
               required by the execution, delivery and performance by SMC of, or
               compliance by SMC with, this Agreement or the consummation of the
               transactions contemplated by this Agreement.

          i.   SMC will maintain all books, records and other information (the
               "Records") regarding the services provided by SMC pursuant to or
               related to this Agreement. SMC shall, upon request, furnish EBM
               all Records and all other information and materials reasonably
               requested and necessary or appropriate for EBM to evaluate SMC's
               performance under this Agreement. All Records and other
               information regarding the services provided by SMC hereunder
               shall be available for inspection and examination by EBM, ebank
               and ebank's regulatory authorities during SMC's normal business
               hours.

          j.   SMC will maintain disaster recovery and contingency plans to
               protect and back-up its systems and records. SMC will immediately
               notify EBM in the event of any service disruptions, security
               breaches or other event that may interfere with or prohibit SMC
               from providing services or otherwise complying with its
               obligations hereunder.

          k.   SMC will conduct periodic reviews (at least once every 12 months)
               of its internal controls and will provide copies of the results
               of each such review to EBM, as well as copies of the results of
               any external audits. In addition, EBM reserves the right to
               contract for, and SMC will fully cooperate with, an independent
               party's audit of SMC (e.g. an SAS 70 review).

     11.  Confidential Information. EBM and SMC agree as follows:

          a.   SMC agrees, and will require its employees, officers, agents,
               contractors, subcontractors and representatives to protect and
               hold strictly confidential all information which it receives from
               EBM with respect to EBM's operations, its lenders, borrowers and
               other counterparties (the

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               "Confidential Information"). SMC will comply with EBM's privacy
               policies as in effect from time to time, provided however, that
               SMC may provide any such Confidential Information relating to EBM
               to any broker, trader or other third party on EBM's behalf, or to
               any federal, state, or other governmental agency lawfully
               requesting such information.

          b.   Each party (the "Receiving Party") acknowledges that it, its
               officers or employees, may receive from the other party (the
               "Disclosing Party") confidential disclosures or trade secrets,
               ("Intellectual Property") rightfully belonging to the Disclosing
               Party. The Receiving Party, on behalf of itself, its officers,
               and its employees, agrees not to utilize the Intellectual
               Property other than as contemplated by this Agreement.

     12.  Arbitration, Dispute Resolution. Notwithstanding the above, SMC and
          EBM agree that all marketing gains and losses flow to EBM. However,
          SMC agrees that financial losses caused by the negligence or poor
          performance of its employees are the responsibility of SMC and EBM
          agrees that financial losses caused by the negligence or poor
          performance if its employees are the responsibility of EBM.

               For the purpose of this Agreement, the parties agree that this
          transaction involves substantial interstate commerce. Except as
          otherwise specifically set forth below, and in lieu of rights to a
          jury trial and the right to assert a claim for punitive damages,
          attorney's fees and other matters more particularly described herein,
          any action, dispute, claim, counterclaim or controversy ("Dispute or
          Disputes") between the parties, including any claim based on or
          arising from an alleged tort, shall be resolved by arbitration as set
          forth below. The term "Disputes" shall include all actions, disputes,
          claims, counterclaims or controversies arising in connection with the
          terms of the Agreement, and action taken (or failure to take any
          action) in connection with any of the above, any past, present and
          future agreement between or among the parties, and any past, present
          or future transactions between or among the parties.

               All Disputes shall be submitted to binding arbitration in
          accordance with Title 9 of the U.S. Code and the Arbitration Rules for
          Commercial Arbitration (the "Rules") of the American Arbitration
          Association (the "AAA"). All defenses, including those defenses based
          on statutes of limitation, estoppels, waiver, laches, and similar
          doctrines, that would otherwise be applicable to any action brought by
          a party, shall be applicable in any such arbitration proceeding, and
          the commencement of an arbitration proceeding with respect to this
          Agreement shall be deemed the commencement of an action for such
          purposes.

               The arbitrator(s) may not award and the parties hereto waive any
          right to assert a claim, for interlocutory relief (including temporary
          or permanent injunctions), punitive damages, treble damages,
          penalties, or attorney's fees

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          and may not, without consent of the parties, consolidate the Dispute
          with other claims for arbitration.

               EBM and SMC shall be bound by the terms of this provision
          notwithstanding the termination of this Agreement.

     13.  Waiver. Failure of either party to insist, in one or more instances,
          on performance by the other in strict accordance with the terms and
          conditions of this Agreement shall not be deemed a waiver or
          relinquishment of any right granted in this Agreement or of the future
          performance of any such term or condition or of any other term or
          condition of this Agreement, unless such waiver is contained in a
          writing signed by the party making the waiver.

     14.  Definitions. As used herein, defined terms shall include both the
          singular and plural of each such term, any reference by gender shall
          include the other gender unless the context clearly requires
          otherwise, and the terms "include" or "including" shall mean without
          limitation by reason of any enumeration thereof.

     15.  Headings. The headings of sections and subsections hereof have been
          inserted for convenience of reference only and are not intended to,
          and shall not affect the meaning, construction or effect of this
          Agreement.

     16.  Amendments. Changes and/or amendments to this Agreement, other than
          changes in EBM's policies, procedures and directions, which EBM may
          change unilaterally, will be made only in writing and shall not be
          considered effective until approved and executed by authorized
          officers of EBM and SMC, and which, in the case of EBM, shall be EBM's
          chief executive officer who shall be the only officer of EBM
          authorized to execute such amendments or changes.

     17.  Assignment. SMC shall not assign this Agreement nor delegate its
          duties hereunder in any manner or by operation of law without the
          express written consent of EBM.

     18.  Governing Law. This Agreement shall be governed by and construed in
          accordance with the laws of the State of Georgia.

     19.  Notices. All notices, requests, demands and other communications
          required or permitted hereunder shall be in writing and shall be
          deemed to have been duly given if delivered, three days after mailing
          if mailed first class, certified mail, postage prepaid to:

               To EBM: ebank Mortgage, LLC
                       2401 Lake Park Dr., Ste.200
                       Smyrna, Ga. 30080

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                       Attention: President
                       Facsimile No 770-863-3991

                       with a copy to: ebank
                       2410 Paces Ferry Road
                       Suite 190
                       Atlanta, GA 30339
                       Attention: CEO
                       Facsimile No. 770-863-9228

               To SMC: Sunshine Mortgage Corporation
                       2401 Lake Park Dr., Ste. 300
                       Smyrna, Ga. 30080
                       Attention:
                       Facsimile No. 770-437-4145

          Either party may, from time to time, change the address to which
          notice is to be sent

     20.  Entire Agreement. This Agreement, including its Exhibit(s), sets forth
          the entire Agreement and understanding between EBM and SMC as to the
          subject matter of the Agreement.

     21.  Agreement and Counterparts. This Agreement and any amendments hereto
          may be executed in several counterparts, and when executed, shall
          constitute one agreement binding upon all parties hereto,
          notwithstanding that all are not signatories to the original or the
          same counterpart.

     IN WITNESS WHEREOF, the parties to this Agreement have recorded their
     signatures as of the date first written above.

ebank Mortgage, LLC                     Sunshine Mortgage Corporation

By: /s/ James L. Box                    By: /s/ Gary Rhineheart
    ---------------------------------       ------------------------------------
Printed Name: James L. Box              Printed Name: Gary Rhineheart
Title: Chief Executive Officer          Title: President

                                       10Ex-10.133

 

EXHIBIT 10.133

TIMCO AVIATION SERVICES, INC.,

f/k/a AVIATION SALES COMPANY,

Issuer,

THE SUBSIDIARY GUARANTORS NAMED HEREIN

and

HSBC BANK USA, NATIONAL ASSOCIATION

(as successor to HSBC Bank USA)

Trustee

SUPPLEMENTAL INDENTURE

Dated as of October 12, 2005

8.00% SENIOR SUBORDINATED CONVERTIBLE PIK NOTES DUE 2006

Supplementing the Indenture dated as of February 28, 2002 among TIMCO AVIATION SERVICES, INC.,
f/k/a AVIATION SALES COMPANY, and AVIATION SALES DISTRIBUTION SERVICES COMPANY, AVIATION SALES
LEASING COMPANY, TMAS/ASI, INC., AVS/M-1, INC., AVS/M-2, INC., AVS/M-3, INC., AVIATION SALES
PROPERTY MANAGEMENT CORP., TIMCO ENGINE CENTER, INC., WHITEHALL CORPORATION, TRIAD INTERNATIONAL
MAINTENANCE CORPORATION, AVS/CAI, INC., AIRCRAFT INTERIOR DESIGN, INC., HYDROSCIENCE, INC., TIMCO
ENGINEERED SYSTEMS, INC., AVSRE, L.P., and BRICE MANUFACTURING COMPANY, INC. as Guarantors, and
HSBC Bank USA, National Association (as successor to HSBC Bank USA) as Trustee, as such Indenture
was supplemented before the date hereof.

 

 

     THIS SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of October 12,
2005, among TIMCO Aviation Services, Inc., f/k/a Aviation Sales Company, a Delaware corporation
(the “Company”), Aviation Sales Distribution Services Company, Aviation Sales Leasing
Company, TMAS/ASI, Inc., AVS/M-1, Inc., AVS/M-2, Inc., AVS/M-3, Inc., Aviation Sales Property
Management Corp., Timco Engine Center, Inc., Whitehall Corporation, Triad International Maintenance
Corporation, AVS/CAI, Inc., Aircraft Interior Design, Inc., Hydroscience, Inc., Timco Engineered
Systems, Inc., AVSRE, L.P., and Brice Manufacturing Company, Inc. (collectively, the
“Subsidiary Guarantors”) and HSBC Bank USA, National Association, a national banking
corporation (as successor to HSBC Bank USA), as Trustee (the “Trustee”), under the
Indenture dated as of February 28, 2002, among the Company, certain of the Subsidiary Guarantors
and the Trustee, (as supplemented before the date hereof, the “Indenture”). Capitalized
terms used herein and not otherwise defined herein shall have the respective meanings assigned to
them in the Indenture.

W I T N E S S E T H:

     WHEREAS, the Company has issued its 8.00% Senior Subordinated Convertible PIK Notes due 2006
(the “Notes”) pursuant to the Indenture;

     WHEREAS, the Company has made an offer to Holders of the Notes (the “Early Conversion
Offer”) for the early conversion of the Notes into Company common stock, as more particularly
described in the Company’s Offering Circular dated August 17, 2005;

     WHEREAS, in connection with the Early Conversion Offer, the Company has requested that Holders
of the Notes deliver their consents with respect to amendments of certain provisions of the
Indenture;

     WHEREAS, Section 9.02 of the Indenture provides that, subject to certain restrictions, with
the consent of the Holders of at least a majority in principal amount of the Notes then outstanding
voting as a single class, the Company, when authorized by a resolution of its Board of Directors,
the Subsidiary Guarantors and the Trustee may, from time to time and at any time, enter into an
indenture or indentures supplemental to the Indenture for the purpose of adding any provisions to
or changing in any manner or eliminating any of the provisions of the Indenture or of any
supplemental indenture or of modifying in any manner the rights of the Holders of the Notes;

     WHEREAS, the Holders of not less than a majority in principal amount of the Notes outstanding
have duly consented to the proposed modifications set forth in this Supplemental Indenture in
accordance with Section 9.02 of the Indenture;

     WHEREAS, in accordance with Section 9.02 of the Indenture, the Company has heretofore
delivered or is delivering contemporaneously herewith to the Trustee (i) a copy of resolutions of
the Board of Directors of the Company, certified by the Secretary or an Assistant Secretary of the
Company, authorizing the execution, delivery and performance of this Supplemental Indenture, and
(ii) evidence of the written consent of the Holders referenced in the immediately preceding
paragraph;

 

 

WHEREAS, all conditions necessary to authorize the execution and delivery of this Supplemental
Indenture and to make this Supplemental Indenture valid and binding have been complied with or have
been done or performed; and

     NOW, THEREFORE, in consideration of the foregoing and notwithstanding any provision of the
Indenture which, absent this Supplemental Indenture, might operate to limit such action, the
parties hereto, intending to be legally bound hereby, agree as follows.

ARTICLE ONE

AMENDMENTS

     SECTION 1.01. Deleted Sections and Article. Subject to Section 2.01 hereof, the Indenture is
hereby amended by deleting in their entireties the current texts of the provisions of Sections
3.09, 4.03, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.15, 4.16, 4.17, 4.18, 5.01(a) — (b),
6.01(c) — (d), 6.03, and 11.04(b) — (d) and substituting for the texts of each of those provisions
the words “This provision is intentionally omitted.” Effective as of the date hereof, none of the
Company, the Subsidiary Guarantors, the Trustee or other parties to or beneficiaries of the
Indenture shall have any rights, obligations or liabilities under such deleted Sections or Article
and such Sections and Article shall not be considered in determining whether a Default or Event of
Default has occurred or whether the Company or any of the Subsidiary Guarantors has observed,
performed or complied with the provisions of the Indenture.

     SECTION 1.02. Deleted Definitions. Subject to Section 2.01 hereof, the Indenture is hereby
amended by deleting any definitions from the Indenture with respect to which references would be
eliminated as a result of the amendment of the Indenture pursuant to Section 1.01 hereof.

ARTICLE TWO

MISCELLANEOUS

     SECTION 2.01. Terms to Remain in Effect. Except as waived or amended hereby, all of the terms
of the Indenture shall remain and continue in full force and effect and are hereby confirmed in all
respects. From and after the date of this Supplemental Indenture, all references to the Indenture
(whether in the Indenture or in any other agreements, documents or instruments) shall be deemed to
be references to the Indenture as amended and supplemented by this Supplemental Indenture. On the
date the tenders of Notes pursuant to the Early Conversion Offer are accepted for payment this
Supplemental Indenture will become operative as of the date hereof.

     SECTION 2.02. Governing Law. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE
USED TO CONSTRUE THIS INDENTURE, THE NOTES AND THE SUBSIDIARY GUARANTEES WITHOUT GIVING EFFECT TO
APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION WOULD BE REQUIRED THEREBY.

2

 

     SECTION 2.03. Execution in Counterparts. This Supplemental Indenture may be executed in any
number of counterparts, each of which shall be an original; but such counterparts shall constitute
but one and the same instrument.

     SECTION 2.04. Trustee Not Liable. The recitals contained herein shall be taken as the
statement of the Company, and the Trustee assumes no responsibility whatsoever for their
correctness nor for the validity or sufficiency of this Supplemental Indenture or for the due
execution hereof by the Company.

     SECTION 2.05. Trustee Entitled to Benefits. Subject to Article One hereof, in entering into
this Supplemental Indenture, the Trustee shall be entitled to the benefit of every provision of the
Indenture relating to the conduct or affecting the liability of or affording protection to the
Trustee, whether or not elsewhere herein so provided.

     IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed all as of the date first written above.

	 	 	 	 	 
	 	TIMCO AVIATION SERVICES, INC., f/k/a
AVIATION SALES COMPANY

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 
	 	AVIATION SALES DISTRIBUTION SERVICES COMPANY

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 
	 	AVIATION SALES LEASING COMPANY

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 

3

 

	 	 	 	 	 

	 	 	 	 	 
	 	TMAS/ASI, INC.

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 
	 	AVS/M-1, INC.

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 
	 	AVS/M-2, INC.

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 
	 	AVS/M-3, INC.

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 
	 	AVIATION SALES PROPERTY MANAGEMENT CORP.

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 

4

 

	 	 	 	 	 

	 	 	 	 	 
	 	TIMCO ENGINE CENTER, INC.

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 
	 	WHITEHALL CORPORATION

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 
	 	TRIAD INTERNATIONAL MAINTENANCE CORPORATION

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 
	 	AVS/CAI, INC.

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 
	 	AIRCRAFT INTERIOR DESIGN, INC.

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 
	 	HYDROSCIENCE, INC.

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 

5

 

	 	 	 	 	 

	 	 	 	 	 
	 	TIMCO ENGINEERED SYSTEMS, INC.

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 
	 	AVSRE, L.P.

 	 
	 	By:  	Aviation Sales Property Management Corp.,
 	 
	 	 	its general partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                                                     /s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 
	 	BRICE MANUFACTURING COMPANY, INC.

 	 
	 	By:  	/s/ Roy T. Rimmer, Jr.
 	 
	 	 	Name:  	Roy T. Rimmer, Jr. 	 
	 	 	Title:  	Chairman, CEO 	 
	 

	 	 	 	 	 
	HSBC BANK USA, NATIONAL ASSOCIATION

(as successor to HSBC Bank USA) as Trustee

 	 
	By:  	/s/ Frank Godino
 	 
	 	Name:  	Frank Godino 	 
	 	Title:  	Vice President 	 
	 

6

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